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INTERNATIONAL 






--«■ . 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 




** 


Paris, Safurday-Sunday, July 23-24, 1994 


No. 34.648 


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U.S. Disputes Clinton Orders Airlift as UN Pleads for Help on Rwanda 


U.S. Military 
Opens ‘Race 
Against Time’ 







On Stance of 
Bosnia Serbs 

Reply to Peace Plan, 
Was i Disappointing l 
Perry Says in Zagreb 

Compiled try Ow Staff From Dispatches ' 

- ZAGREB, Croatia — - In an apparent 
sign of an emerging rift, the U.S. defense 
secretary, W illiam J. Perry, disputed on 
Friday the Russian view that the Bosnian 
Serbs had given a “rather positive” re- 
sponse to the latest peace plan. 

With the plan stalled, fighting flared in 
Bosnia on several fronts. United Nations 
^officials reported. 

Mr. Perry, in Zagreb for talks with 
NATO and UN peacekeeping c ommand , 
ers, said that the Serbs’ reaction was “not a 
positive answer but a disapp ointin g an . 
swer, and it is going to greatly complicate 
the path ahead.” 

But he said that the international com- 
munity would take no new action over 
Bosnia-Heizegovina until after a July 30 
meeting of the five-nation Contact Group 
that drafted the peace plan. 

Foreign ministers from the plan’s spon- 
soring countries — the United States, 
France, Britain, Germany and Russia — 
are to meet in Geneva that day to discuss 
the consequences of the Bosnian Serbs’ 
refusal to back the partition plan. 

The current proposal would give a Mus- 
tim-Croat federation 51 percent of Bosnia 
and leave the Serbs, who now hold about 
70 percent, with 49 percent. • 

Mr. Perry, who aborted a trip to Saraje- 
vo after shelling Thursday forced the air- 
port’s closure, also confirmed a possible 
lifting of the arms embargo for the benefit 
of Muslim-led Bosnian government forces. 

A lifting of the embargo was cine option 
under discussion if the Bosnian Serbs' re- 
jection of the plan proved definitive, he 
said. 

Prime Minister Haris Sflajdzic of Bos- • 
nia, who met with Mr. Perry in Zagreb, 
stressed his government’s continued “un- 
jVonditionaT support for the plan. ' 

But asked if there was any way his tide 
would negotiate with the Sobs over. Sort 
ders, Mr. Sflajcbric said, 'The answer is 
no.” . 

The Serbs did not rgect the partition' 
plan outright but attached conditions that 
would require substantial - renegotiation. 
The Muslims and Croatshave accepted the 

See BOSNIA, Page 4 



With more than a million Rwandan refugees crowding into four makeshift camps in Goma, Zaire, disease and exhaustion are taking a severe toll. 

In Refugee Camps, Scenes from the Inferno 


By Barry James 

■ Tnumadand Hendd Tribune 

: With cholera and other diseases spread- 
ing through Dantesque refugee camps on 
the binder of Zaire, the UN secretary-* 
general, 'Butros Butros GhaE. made a des- 
perate appes! Friday for $434 minio n in 
aid for Rwandans. ■ * : - 

^President Bfll'Oinunr ordered an “irri* 
mediate and massive increase in our efforts 
in the region” to hdp allay “what could be 
the world’s worst humanitarian crisis in a 
generation.” 

' ion 


specific tasks around the Zairian town of 
Goma, where more than a million refugees 


are Irving in appalling conditions, “we 
have not had a single positive response, 
and it’s getting very late,” said a spokes- 
woman for the United Nations High Com- 
missioner for Refugees. “In this emergen- 
cy, we expect a major contribution from 
every single country in the.worid." 

' In four teeming .refugee . camps near 
Goma, [people- were dying of disease .and 
exhaustion faster than aid workers could 
count them. Trafficjams of trucks carrying 
bodies built up on their way to mass 
graves. 

People tied scarves over their faces to 
keep out the stench of corpses and excre- 
ment- Medical workers said cholera could 


kill thousands more because of the short- 
age of clean water and medical supplies. 

Most people were surviving on slimy 
water collected from Lake Kivu, which is 
heavily pofluted. The aid agencies were 
able to deliver only a fraction of the food 
needed, and the airport runway ai Goma 
_jyas bnsdring up as heavy transport planes 
arrived with supplies. 

Mr. Butros Ghaii said the refugee exo- 
dus forced him to seek $434 million for 
immediate humanitarian needs rather than 
the $274 million initially estimated. 

He said the tragedy was reaching “un- 
imaginable proportions.” 

The secretary-general added that propa- 


ganda broadcasts by clandestine radio sta- 
tions run by the exiled Rwandan govern- 
ment had fanned hatred and fear. 

“Retreating soldiers have urged and 
forced whole populations to leave then- 
homes and follow them into exile he said. 
“In some cases, massacres have even been 
perpetrated deliberately in order to create 
situations of panic, chaos and fear.” 

There was no sign that the hatred was 
abating. Tutsi refugees in Zaire, who fled 
earlier to escape the Hutu massacre of up 
to 500,000 of their fellow tribespeople and 
moderate Hutu, said they were temfied of 

See RWANDA, Page 4 


U.S. and North Korea Set 
5 for Nuclear Talks 


Aug. 


resuming talks was busi n es slik e. “A work- 
ing-tevd contact took place in New York 
on July 21 at which the tides agreed to 
resume the talks, in Geneva on Aug. 5,” 
said a spokesman for the North Korean 
Foreign Ministry in a statement carried by 
the official Korean Central News Agency. 

American officials said they still have 
little understanding of what is happening 
in North Korea’s rnhng circles in the after- 
math of the leader's death. His son, Kim 
Jong H, is widely expected to succeed him. 

Winston Lord, U.&. assistant secretary 
of state; said Wednesday, “Wc have no 
reason to believe that anyone but Kim 
Jong D wfll become the successor.” But he 
added that “if anybody gives you flat as- 
surances or predictions of what’s happen- 
ing m North Korea, immediately distrust 
Em.” 

Kim Jong E has not been publicly 
named in any of the announcements that 
have been coming out of North Korea. 



Kiosk 


Islamic Group Claims 
Argentine Bombing 

Roam 

BUENOS AIRES — An Islamic 
group called Followers of God claimed 
responsibility for the bombing of a Jew- 
ish oenter in Buenos Aires on Monday in 
wEch 100 people are dead or missing, an 
Argentine security officer said Friday. 

Israeli intelligence services informed 
Buenos Aires of the claim by the group, 
which was based in southern Lebanon. 
Argentines protest the attack. Page 3. 


Book Review 


Page 7. 



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Ion Diftra ’Agmc Frw^Pre-rte 

ASEAN WELCOME — The Thai deputy foreign minister, Stain Pttsuwan, 
left; the Burmese foreign minister, U Ohn Gy aw, and the Cambodian 
foreign minister, Prince Norodom Sirmicb, right, at ASEAN talks. Page 4. 


Fri.doM 


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By R. Jeffrey Smith 

Woshtngtcm Pott Service 

WASHINGTON — US. and North 
Korean officials will resume high-level 
diplomatic negotiations on nuclear and 
political matters in Geneva on Ang. 5, 
slightly later than the Clinton administra- 
tion had preferred. 

The date was set at a working-level 
meeting in New York on Thursday, a de- 
velopment hailed by U.S. officials as a sign 
that North Korea, despite the death of 
President Kim E Sung, remains committed 
to resolving Western allegations that it is 
building an arsenal of nuclear weapons. 

The late North Korean president had per- 
‘ >n»ny approved the talks, but his death 
raised questions about how quickly they 
might resume. 

the Geneva talks were suspended on 
■ July 9 after only one day so that the chief 
North Korean negotiator, Kang Sok Ju, 
could return to Pyongyang for the funeraL 
‘ The session did not produce break- 
throughs on any aspect of Washington’s 
demand that North Korea eliminate its 
nuclear capability, but U.S. officials re- 
mained optimistic. 

The United States is offering diplomatic 
and economic concessions to the North 
Koreans, including assistance^ shifting to 
the less threatening light-water nuclear 
technology. 

Speaking of the agreement to resume 
negotiations, a U.S. government analyst 
said, "This is not a suijHise.” 

The analyst said senior North Korean 
officials had given every indication from 
the moment of the announcement of Mr. 

Kim's death that they y • “ — 

Praise the Wayside Pulpit! Road to Heaven or Hell Is Well Posted 

ed oWasm” of the United States since the ^ X 

leader’s death,. Instead, it gave prominent 
play to President Bill Chnton’s message of 
condolence as a “signal to thetf own peo- 
: pie that engagement with the United Stales 
is the policy,” the analyst sajd- _ • 

JThe North Korean announcement Fn- 
diy that the two sides had set a date for 


From 6 A’ to 6 Gytch’: 1,006 Pages of Nothing but Slang 


. By Ken Ringle : 

Washington Pott Service 

WASHINGTON — Jonathan E. 
Lighter wears the wiy, dyspeptic look of a 
python digesting what he though! was an- 
other snake, but discovered too late was 
the front end of an elephant 
The 45-year-old lexicographer has just 


it of the 
of his 


H um a n ities with 1.006 pages of his just- 
- published Random House Historical Dic- 
tionary of American Slang. That’s the first 
of three volumes. He’s been working on it 
for more than 25 years. 

If he had spent the same amount of time 
and effort- writing “explosive best-sellers 
detailing the exploits of Hollywood celeb- 


rities,” Mr. Lighter mused, “who knows? 
Wealth, fame, perhaps even tenure might 
have ah been mine.” 

Instead he pursued a youthful obsession 
with nonstandard English usage into the 
mirror-world of meanings, trying to track 
down and define slang expressions used 
over the past three centuries. 

If you believe language is organic and 


ever changing, he said, “bow do you really 
know what a word means, especially when 
someone else is saying it?” 

In the end he suggested even the most 
exhaustive scholarship comes to depend 
on “a flash of direct, intuitive insight” 

His 20,000-odd published insights ex- 

See SLANG, Page 4 


By John H. Cushman Jr. 

Setr York Tunes Service 

WASHINGTON — President Bill Clin- 
ton ordered the Pentagon on Friday to 
mount an enormous, urgent airlift of relief 
supplies into Africa in an attempt to con- 
trol the catastrophe facing more than a 
million refugees from Rwanda. 

The relief mission was described by the 
chairman of the Joint Chiefs of Staff, Gen- 
eral John M. Shalikashvili. as a race 
against time; but with every minute lolling 
another death at the cholera-infested 
camps in Zaire, officials said it would take 
several days for the operation to reach its 
height 

“We’re going to be doing everything we 
can, but there is going to be a' time lag 
here.” said J. Brian Atwood bead of the 
U.S. Agency for International Develop- 
ment 

Mr. Clinton, calling the crisis possibly 
“the world’s worst humanitarian crisis in a 
generation,” defended American relief ef- 
forts so far. “From the beginning of this 
tragedy, the United States has been in the 
forefront of the international community’s 
response,” be said 

Officials said that 20 million packages of 
oral rehydra lion salts, the first-aid treat- 
ment for cholera victims, would be deliv- 
ered within two days, with other food and 

French officials say tfs the rest of the world's 
tarn to act in the Rwandan crisis. Page 4. 

medical equipment following right behind 
Two military transport planes were al- 
ready bound for Zaire, and expected to 
arrive Saturday. One carried medical sup- 
plies and the other hauled six forklifts. 

Beginning on Saturday, officials said, 42 
flights would leave carrying nearly 1,500 
tons of food and other supplies requested 
by international relief agencies. The Penta- 
gon is also considering dropping daily 
food rations by parachute be ginning Sun- 
day. 

The biggest problem of all is to provide 
an adequate supply of clean water to the 
refugees along with other sanitation equip- 
ment. That is likely to take many days. 

To move water, trucks, filtration equip- 
ment and other heavy supplies into the 
remote areas where the refugees have con- 
centrated requires creating a logistical 
chain with its central base in Uganda, its 
collection points in Germany and its front 
lines at the underequipped airfields in 
Zaire. 

In all, the expanded relief effort is ex- 
pected to cost about $100 million beyond 
the $150 million or so already spent by the 
United States since the Rwandan crisis 
began in April. 

A UN spokesman said it was hoped that 
the United States would come up with 
even more aid at a pledging conference in 
Geneva next week in response to a plea 
from Secretary-General Butros Butros 
Ghaii. 

About 1 .500 U.S. military personnel are 
expected to be involved vrithin a week, 
including about 200 in Zaire and several 
hundred more in Uganda where the Penta- 
gon plans to set up the stepping stone on 
the airfield at Entebbe, the hub for the 
round-the-clock airlift to come. 

Deputy Defense Secretary John 
Deutsch said the Pentagon would take on 
the following logistical tasks; 

• Airports: Air traffic control must be 
pul into the airfields at Goma and Bnkavu 
m Zaire and perhaps at other smaller air- 
fields near the refugee centers, letting them 
operate around the dock. Military security 
will have to be provided. 

■ Ground logistics: Unloading equip- 
ment, trucks for distribution, survey teams 
to assess where the supplies are most need- 
ed and computer systems to track the sup- 
plies. 

• The hub at Entebbe: Controlling all 
flights, refueling the planes, keeping sup- 
plies in warehouses and distributing them 
to the refugee centers will all be handled 
there, beginning in a few days. The Enteb- 
be bub, officials said, would significantly 
speed the flow of materials to the refugees. 

Mr. Clinton also called for a “full con- 
tingent’' of UN peacekeepers to be sent to 
Rwanda to provide security for dvilians 
who want to return to their homeland. The 
Associated Press reported earlier from 

The U.S. goal, Mr. Clinton said, is to 
relieve the suffering as quickly as possible 
and to enable the safe return of refugees to 
Rwanda. 


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By Peter Applebome 

Hew York Tima Sertke 

LITTLE ROCK, Arkansas —Consider 
the church sign — highway haiku for the 
Bible ML ... 

The messa ge may be hard sell, (“In Or- 
der to Get to Hefl You Have to Step Over 
Jesus”), we lcoming (“Free Faith Lifts Ev- 
ery Sunday") or the Gospel According to 
Nashville (“Lei Jesus Fix Your Achy 
Breaky Heart”). 

U can be inspirational (“No Jesus No 
Love; Know Jesus Know Love”), folksy 
(“Don’t Be a Boo-Bird in God’s Flock of 
Team Players") or informative (“Heaven’s 

p St] 


Directions — Turn RighL Go 

Yl_.« ^ m nn « ih am vuiWw* 


But in a region where public displays of 
.faith are as much apart of the landscape as 
anti-Clinton bumper stickers and barbe- 


cue joints, roadside religion is as Southern 
as Alabama-Auburn football or hot corn- 
bread. 

“They’re sort of like urban rumors or 
something,” said David Ward, pastor and 
church sign tender at the Unity Missionary 
Baptist Church here. “They just sort of 
pass around." 

The church sign can be an internally 
with a big yellow cross like the 
L's church. It 


one at Mr. Ward's church. It can be a 
mobile highway road sign with an arrow 
pointing to the church like the one Betty 
Yon, the church secretary, changes every 
week at the Pineview Baptist Church in 
West Columbia, South Carolina. 

Or it can even be an electronic message 
board like the one at Peachtree Baptist 
Church in Atlanta, which recently read. 


“Being Bom Again Means Being Plugged 
Into a New Power Source." 

All that matters is that the letters can be 
rearranged as often as needed to spread the 
Good word in the competition to recruit 
bodies and save souls that is religion in the 
South. 

“We use it as a sort of wayside pulpit." 
said Perry Ginn, pastor of Peachtree Bap- 
tist Church in Atlanta. 

Southern churches are hardly the only 
ones that nse signs to do more than give the 
time for Sunday services, the preacher’s 
name and the sermon topic. Rodger Love- 
ing. vice president of the J.M. Stewart 
Corp„ die nation's largest purveyor of 
church sigm says be has customers from 
Hawaii to Iceland catering to “drive-by 
congregations." 


But just as an English visitor, Sir Wil- 
liam Archer, opined at the beginning of the 
century: “The South is by along way the 
most simply and sincerely religious coun- 
try that I ever was in." religion has always- 
helped define what is distinctive about the 
South. 

Even now, religion is far more conspicu- 
ous a part of lire in the South than it is 
anywhere else in the Uni ted States. Ac- 
cording to a poll of 1,839 adults this year 
conducted by the Institute for Research in 
Social Science at the University of North 
Carolina for The Atlanta Journal-Consti- 
tution, almost half of Southerners say this 
is a Christian country and the government 
should make laws to keep it that way. 

Only a third of those outside the South 
say so. Asked if there’s a devil, four of five 


Southerners and three of four non-Sou Lh- 
eraers said yes. Asked if they read the 
Bible at home in the past week, half of the 
Southerners and a third of the non-South- 
eraers said yes. 

In addition, the fundamentalist and 
evangelical Christian congregations that 
dommaie the South are far more likely to 
spread the Word on a sign that could just 
as well advertise “Shorty's Bait and Tack- 
le" than are the Mainline Protestant or 
Catholic churches that are more common 
in other parts of the country. 

Your basic church sign message hews 
pretty closely to what the pastor might say 
m his sermon. There are Ten Command- 
ments church signs like “God Gave Ten 

See SOUTH, Page 4 


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Page 2 


INTERNATIONAL HERALD TRIBUTE, SATURPAY-SUNPAY, JULY 23-24, 1994 


Last Big Bio 


WORLD BRIEFS 


■p 


into view from the dark side of Jiyiter 


neuters imu >» vm. — - . . 

SYDNEY — Astronomers were was L% 

treated to a Eery finale on Friday as Earth, and as time goes on the npp 

_ _ _ . - J > .i « - — n .lll nmni 91 





the last big fragment of the dying corn- 
ea Shoemaker-Levy 9 smashed into the 
battered surface of Jupiter. 


will grow." 

■ Scramble to Process the Data 


intersect Earth’s- “ “ v ,a T7"' Instead, it appeareu. -- 

csgassn?. 

_j_1 e t a the comet said. This is a typical prob- wt ” an observer said. . • 


impact in the Jovian atmosphere. 


miles per second ipu jbuvu«*« 
second) Wednesday. j 
Instead, it apprared that the 


Kathy Statytrof the Washington 




^ 14V munon miles 

i sfflsstissaSi -essm 


has gone deep," said Peter McGregor 
of Australian National University, an 
astronomer at the Siding Spring Ob- 
servatory. “It’s pretty impressive,” he 
said. . . 

He said the impact zone spinning 


msnts mio me ju»«w — , 

Teny Z. Martin of NASA’s J« IW- 
s»n Laboratory m California sard the 
craft’s fight-detecting infrared mstm- 
Riant the entry of Fispncnt 


rs.7is® ‘■sssssi— wsaxsss. 

ssm asSSir 81 ® 2 BsssraMss* 

Even the U.S. Congress felt the un- ra ^/®^ n ^ a ^ S ^ ortcd ^ partidSm the smaller fragment that H on Monday, and Fragment 

•■■■••• 


Democrats to Forge 


‘Less Bureaucratic 


AMERICAN 

TOPICS 


Health Care Bill 


U.S. Swats at Nations 
That Bug-Spray Hanes 


By Ann Devroy 
and David S. Broder 

Washington Post Serriee 

WASHINGTON — Demo- 
cratic congressional leaders 
have told President Bill Clinton 
they will write new health care 
legislation that would phase in 
universal coverage over a longer 
period than the White House 
wants and with a “less bureau- 
cratic approach.” officials said. 

The statement by the leaders 
and explanations by White 
House officials indicate there 
are not enough votes to pass 
Mr. Clinton’s plan. But George 
J. Mitchell, the Senate majority 
leader. Thomas S. Foley, the 
House speaker and Richard A. 


Gephardt, the House majority 
leader, said the president and 
the Democratic leadership re- 
main committed to covering aU 
Americans and continue to be- 
lieve that some sort of system 
tha t requires individuals, busi- 
nesses or a combination to pro- 
vide insurance will be in at feast 
the House legislation. 

Harold Ickes, deputy chief of 
staff ai the White House and 
coordinator of health care poli- 
cy, said the leaders told the 
president, first lady Hillary 
Rodham Clinton and their se- 
nior advisers that after assess- 
ing voter preferences and the 
votes in Congress, they were 
committed to coining up with 
“a new approach” in “a new 
spirit” that would be “less bu- 
reaucratic, and provide for a 
longer phase-in period” for uni- 
versal coverage. 

Mr. Clinton had called for all 
Americans to be covered by 
1998, but even the versions of 
the legislation in the various 
committees delay that because 


of the cost and complexities in- 
volved. . ... 

Mr. Ickes said the adminis- 
tration continued to believe 
that the only way to provide 
universal coverage and control 
costs is through mandates re- 
quiring businesses to pay for 
insurance. Many members of 
Congress oppose the idea. 

Mr. Foley said the legislation 
the House will write under its 
new approach would likely have 
mandates; Mr. Mitchell was 
more oblique about the Senate 
version's provisions. 

Mr. Foley said he would 
bring to the floor a bill, based 
largely on the measure reported 
from the House Ways and 
Means Committee, including a 
requirement that all employers 
buy health insurance for their 
workers. 

The Washington Democrat 
said he thought the House 
could pass a bill with such man- 
dates. But he added that he 
plans to “stretch out” the time- 
table and perhaps reduce the 
employers' share of the cost be- 
low the 80 percent level recom- 


U.S. lawmakers are seeking 
to curb the spraying of insecti- 
cide aboard airplanes by re- 
leasing a list of countries that 
follow tire practice. The fist 
contains 24 foreign countries 
and the U.S. territory of 
American Samoa. 


These countries require air- 
lines to spray inside plane 
cabins to kill insects shortly 
before they land. Ventilation 
systems sometimes are turned 
off as flight attendants release 
the chemical into the air, al- 
lowing it to settle on passen- 
gers and crew. 

“The stuff in those cans 
that flight attendants spray 
out over your heads or send 
out through plane ventilation 
systems is not an air-freshen- 
er,” said Senator Patrick Lea- 
hy, Democrat of Vermont “It 
is a pesticide commonly 
known as Black Knight Roach 
Killer.” 

Most people suffer no more 
iVinn mil d discomfort, but the 
chemical can cause difficulties 
for people with breathing 
problems and chemical sensi- 
tivities, Senator Leahy said. 

The United States banned 
spraying on domestic flights . 
in 1979 after the federal Cen- 
ters for Disease Control found 
it was not effective in prevent- 
ing the spread of disease or 
insects. 

At least 24 countries and 
Samoa require the spraying, 
officials said. They are Costa 
Rica, Madagascar, Antigua, 
Belize, Congo, Granada, 
Mauritius. Seychelles, Yemen, 
Mexico, Mozambique, Cape 
Verde, the Dominican Repub- 
lic, India, New Caledonia, St. 
Lucia, Jamaica, Argentina, 
Barbados, Chile, El Salvador, 
Kenya, Nicaragua and Trim- 
dad and Tobago. 


mended by the president. 

Mr. Mitchell, on the other 
hand, was vague on the issue of 
so-called employer mandates, 
saying he had not ruled them 
out or in. The Senate Labor and 
Human Resources Committee 
included mandates in its draft 
bill, but the Finance Committee 
did not, and many Democratic 
senators have joined Bob Dole, 
the minority leader, in pro* 
noundng mandates dead in the 
Senate. . , 

Democrats at a House whips 
meeting earlier said that head 
counts showed them well short 
of a majority for mandates. 

The congressional leaders 
and White House officials said 
no details of what would be 
produced by tbeir new ap- 
proach were discussed and that 
Mr. Clinton agreed to await 
what the House and Senate 
leaders produce in the next j 
week to 10 days. 

Mr. Ickes said the group 
agreed only on the “principles” 
— coverage for all Americans 
that cannot be taken away, is 
affordable and offers choices to 
patients, and a health care sys- 
tem tha t controls costs and em- 
phasizes primary and preven- 
tive care. 

Mr. Foley said it was “fair to 
conclude" based on the meeting 
and their canvassing of the 
. House and Senate that Con- 
gress had to focus on a different 
approach than Mr. Clinton’s to 
health care, but one that had 
the same goal of coverage for 
everyone. 

Agreement between the pres- 
. ident and the Democratic con- 
i gressioual leaders, however, is 
, no assurance of final passage of 
. a plan acceptable to the presi- 
. dent The House has been un- 
able so far to count enough 
votes to pass an employer man- 
— I date, ana the inclusion of abor- 
tion coverage could encounter 
additional opposition. 

Mr. Mitchell said he hoped to 
have a draft of the final bill 
ready by next weekend, and 
House leaders said privately 
that an early Senate vote for or 
against mandates could influ- 
ence the outcome of the battle 


Republican Says 
TopTVNetworks 
Bade Democrats 


New York Tunes Serriee 

LOS ANGELES — Accusing 
the major television networks of 
favoring the Democrats, the 
Republican national c ha i rman 
said that his party’s plan to 
broadcast health care commer- 
cials paid for by Ross Perot had 
been stalled because the net- 
works refused to sell the time. 

“It wills me no end that the 
networks will give Hillary Clin- 
ton — not sdl her, give her — 
two hours on ‘Good Morning 
America’ to advocate their idea 
of health care reform,” the Re- 
publican chairman, Haley Bar- 
bour, said at the opening of his 
party’s summer meeting here. 

But Democratic officials lat- 
er said that they, too, had been 
rebuffed in their efforts to buy 
blocks of time to promote Presi- 
dent Bill Clinton’s health care 
proposal. 


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Talks Rejected by Nigeria Od XJmon 

, lAGOSfRonas) —Nig eria’s arila. 

:sssa5aS^lsifiK , sssa»; 

Charges for proclaiming hnnself president in 

say, it has noainattd IbUn but his 
taitffr layswirity look him away ou July 6- 


auvou * * voow 

BnMF /Reuters) — A senior Roman Catholic cardinal said on 
ROMEy j. , xT.«:nnc iwuilntinn conference set for 




campaign speameaac 
outcome of the Cairo 


and culturally aavamxu, o . 

■“llftSlSSKJrESSi Vatican win take partis ; 

: «£5ed* SSfaSSs to his* coutml 

aborfrobm asks ftatestotai with the health consequences of, 
botched abortions. 


UUU4IVU .. 

Infant Dies as Mother Plays Pachinko 

. i • v : luni tr» a Ml 


TOKYO (Reuters) — A 2-;year-oId Ja; 
while his mother played pachinko, or pm 


sc boy left in a car- 
died from the heat, . 


thepolice said Friday. 
Tney said the 26-ye 


Mid the 26-year-old mother returned to her cafat N*; , 
a in.i ■ tuvirc bi finii the bov dead. The < 


. ^»III PirftiM rc -TV” 

iMpcfecsaid the mother had left 
♦hat the car had run out of gasoRhu. 


R omania Chief Undergoes Operation 

- ■ ' 1: : 1 . . .A - j J -i. T«. USaami ItttiiM UlP.lIt 


BUCHAREST (Renters) — President Ion Biescu underwait — 
surgery far an acute case of gaHstdiies Friday and may he ^ 

bedridden for 10 days, a hospital offirial au<L • •• — - 

Mr. Diestiu, 64, was admitted-tothe EEas 
Wednesday mghfcsuffering from severe cramps, which were later 
diagnosed aspain from gallstones, the hospittfs general manager - 
said/Ihegallstones were removed m an bqudoflg : ‘ ' 

Mr. Biescu took power after the ouster and execution m 1989 of . 
the dictator Nicolae Ceausescu. ..... • : 


GrciCSkwaVTbr Anodawd Riem 

BANKENSTE1N LIVES? — - Three Greenpeace members, at bottom, descending 
from the World Bank bnadmg in Washington after imfarimg a huge banner to protest 
lending by the bank that the group asserts contributes to environmental damage. 


Rains Tri^er Hong Kong Flooding ■ = 

. HONG KONG f AFP) —Torrential rains deluged Hong Kong ^ t • 

on Friday, Mg m ajor streets into rivers arid isolating many|j : .. 
rural villages. ' ■ • . : ! . ■ . : '-"- 


save the giant panda. Sydney 
Butler, executive director of 
the American Zoo and Aquar- 
ium Association, said an ini- 
tial $100,000 in equipment 
and money will arrive shortly 
in Beijing. 


Short Takes 
A coalition of 26 zoos in the 
United States and Canada is 
trying to raise $30 million to 
help finance China's efforts to 


WiMOfe officials say fires 
and hot, dry weather in south- 
ern Arizona may be why peo- 
ple have been seeing more 
mountain lions, including one 
that attacked and nearly 
dragged off a 2-year-dtd boy 
camping with bis family in the 
Tonto National Forest. 
Plucked to safety by his fa- 


ther, the boy suffered a gash 
in his ear that required 10 
stitches. Another mountain 
lion wandered through a Trio- 
son neighborhood and pawed 
at the window of a dwelling 
before heading back into the 
desert 


If yon wart to get ahead in 
the streamlined post-Cold 
War Central Intelligence 
Agency, you can wear red 
suits and stand on your head 
half the day, as long as yon 
know your job, R- James 
Woolsey Jr, director of the 


Central Intelligence Agency, 
said nr a. radio interview; T 
couldn't care less about the 
eccentricities, as long as you 
are superb and innovative and 
honest at doing your job.” Mr. 
Woolsey, aiming to defuse 
growing congressional pres- 
sure for deep cuts in the esti- 
mated $28 bmion-aryear intel- 
ligence budget, said, “We’re 
cutting out a lot of levels of 
management. Intelligence 
agencies, I think, to some ex- 
tent have and should have a 
tolerance for eccentricity.” 


Unto 300 mflHmetera(Iito^«LO*r^iwaww»»w ^ J . :■ 
since late Thursday , arid forecasters predicted It would continue ^ 

well mto Saturday. ... , , " 

Thirty-two nights into or out of Bong Kong were delayed, .. 
diverted or canceled, while one death was attributed to the storm, . _ 
th at a 22-year-old woman vtiiose car spun off the road. 


FortheRfecoid ... ■ rz; 

A Roman CathoBc businessman was shot and MW Friday by 1 

• fi»i^ marirwl gnhmen in an anai tinent that he was taring with his ^ ^ , 

Protestant girlfriend in a Belfast Protestant district, the pohee ^ . 
said. (-Arr; 


International Herald Tribune. 


TRAVEL UPDATE 


I 

Race Issue Comes to Fore in Simpson Case 


South France Air Controllers Strike 


By Seth Mydans 

New York Tunes Serriee 

LOS ANGELES — O. J. Simpson has 
never been easy to categorize. In his public 
and private fives, he crossed the color line 
to become what marketers call race neu- 
tral. Now, as a murder defendant, he is 
creating confusion and divisions among 
blades here over his role and symbolism. 

From Joe Hicks of the Southern Chris- 
tian Leadership Conference, who insists 
that race plays no part in the case, to 
Dennis Scnatzman of the Los Angeles Sen- 

m Ln LIa/iLt cove 


tineL, a newspaper run by blacks, who says 
the case is “all about race," it is hard to 


find complete agreement 
“It’s a Rorschach cm race and 


Patific Western Umyershy 

2875 S. KhQ Street HonoMu, Hi 96&£ 


in their diamber, where voting 
is scheduled for the week of 
Aug. 8 —just before Congress’s 
scheduled summer recess. 


said Kimberly Crenshaw, a professor of 
constitutional law at the University of Cal- 
ifornia at Los Angeles. 

In the early stages of the investigation of 
the killing s of Mr. Simpson’s former wife, 
Nicole Brown Simpson, and her friend 
Ronald L. Goldman, race was a “sleeper 
issue,” said the professor, mostly unrecog- 
nized among ihe rapid developments. Both 

victims were white. 

But the issue has emerged in recent 
weeks as the defense team has become 
more aggressive in its efforts to influence 
public opinion. 

The Field Poll, a California opinion re- 
search agency, reported that while 62 per- 


cent of whites believed that Mr. Simpson 
was “very likely or somewhat likely” to be 
guilty, only 38 percent of blacks agreed. 

The survey of 847 Californians, con- 
ducted by telephone from July 12 to July 
17, had a mar gin of error of plus or minus 
3.5 percentage points. 

Of the respondents, 58 were black; the 
margin of error for blacks on the question 
regarding Mr. Simpson’s guilt was plus or 
minu s 13 percentage points. 

Mr. Simpson's Lawyers raised the issue 
of race by suggesting to reporters for 
Newsweek andNew Yorker magazines 
that a police detective on the case, Mark 
Fuhnnan, had racist tendencies and could 
have planted evidence against Mr. Simp- 
son. 

But Robert Shapiro, the lead lawyer for 
Mr. Simpson, said this week: “Race is not 
an m this case, and I will not bring it 
up, and anyone who speculated on that is 
just speculating on their own, and the 
speculation is incorrect” 

Legal experts said they believed that the 
defense made the allegation to try to influ- 
ence potential jurors with material that 
'might be inadmissib le in court. But experts 
in jury selection said careful pretrial ques- 
tioning should weed out biased, jurors, 
whether black or white. 

Jo- Elian Dimitrius, a jury consultant, 
said the extraordinary pretrial publicity. 


rather than the issue of race, would be the 
biggest challeng e in selecting an unbiased 
jury. 

The mere spectacle of a prominent blade 
man charged with murder was enough to 
touch, off cries of racial Was among some 
blades here. 

“This is not a murder case, it’s a civil 
rights case," said a caller to a radio show/ 

But Mr. Skrtpsoo was not a “member of 
the dub” for politically active blacks, said 
Alvin Pcrassaint, a professor of psychiatry 
at Harvard Medical School, and did not at 
first win their strong support. ( 

“It’s the same way a lot of blacks sop- 
ported Clarence Thomas even though they 
were opposed to his views,” Mr. Poussaint 
said. “Ifitimatdy they supported Mm be- 
cause he was a black man under at t ack.” 

The more vigorously Mr. Simpson -has 
been pursued by the criminal justice sys- 
tem, the “blacker” he has become,' Mr. 
Schatzman said. 


southern ■ 

France began a tbreeday stoke f nqay, wrong ainmra to caned . * ^ 
scores of flights and causing nugor delays for passengers to ana * - • 
from Majorca and mainland Spain. - ■ l t . 

Air Inter, France’s m domestic airime, canceled 60 percent - _ 

of its flights to and from southern French cities. By uang larger 

.1 jSrl AT <1,. Mmamms ffiohK it cniH it honed to honor , , . 


ot its tugnts to ana irom suulucui *■*««-* ““'T j — 

planes for some of toe remaining flights, it said it hoped tohOTPJ v r „ 

55 percent of its reservations. Affected destinations ractadeo -- 

*♦ it* i — . ^ K ?XA- XRmM Ainon/m mn T .VftfL ■ ■ . - 


■ '100 Percent Nol Gnftty’ 

Mr. Simp son pleaded “absolutely, 100 
percent not guilty” Friday to the slayings 
of his ex-wife ana her friend. The Associat- 
ed Press reported from Los Angeles. Mr. 
Simpson made the plea in a' strong, firm 
voice at his Superior Coart arraignment 
before the supervising judge, Cecil Mills. 


55 percent ot its -reservations. /\ue»vcu 

Corsica, Nice, Toulon, Marseille, Nlmes, Ayignon and Lyon. . . ■-.**«- 

AOM,asmsdkitoniH; saiditwascancefiiiginOTethMihdrrt*;;^-- , 

its fHrihts between Paris and Nice. TAT, a partner of Bnbsb^^— ^ 
Airways, cancded 59 of 162 flights in the affectirf region. Aff - ^ 
France said all its domestic and international flights w*® - 
operate- normally except for about halfwits Paris-Ni<te. flights. » 5^ 
KLM Royal Dutch Airlines said it had suspended its ffightsjo- v _ 
Lyon, Nice and Marseille. ' (AP* r: 

The U5. Stale Denartment has warned Americans to ayooap^^ 
travel to Algeria, and has advised those already there to leave itt % \ 
they lack “effective protection.” The travel warning also or^; ^ 
Americans residing in Algeria to “exercise maximum cautioa mui ■ ja ^ 
to re-evahiate their personal security practices.” - .. 

The Far Eastern port oT Vbrtvostok has become the r7. 

Russian city hit by a. tophtoeria ^ridemic, with 700 cases and « J-, £ c L : - 
deaths reported recently in the region, the Itar-Tass press agency , 
said F riday - Ph ysicians in Vladivostok Mamed the out bre ak my 
unsanitary conmtions and the miration of people to and froi”]«j ^ . J . 

r^ion, Itar-Tass said. 

Japan MrMies says toe TnmSpoert IVtodstry hffi allowed il ' • C?- 
iv yWi service between Kansai International Airport in Osaka ^ 

Los Angdk It^ will operate seven weekly flights from Sept. 4usmg , ^ - 
Boeing 747-400 aircraft, a spoketanan said Friday. JAL4gP<>» : 
received a p p r oval to increaseitom .11 to 14 the number of. wtduy 4 - 

flights between Osaka and Honolulu and from three to seven on . - 

the Osaka-Guam route via Saipan: Kansai Airport is to opar^^W.; 
eariy September. 




To call from country to country, or back to the U.S., dial the WorldPhone number of the country you’re calling from. 

u v»ci j . ... rvLnrXjdtiM \™.niro - - ■ Q0O-99-001 


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NorwaytCO ' _ 800-19912 

Panama 108 

Military Ww* 1 - - 2810-108 

FnntgnayF '008-11-800 

Pw^ri iH^fc af Lima, dad 190 first) 001-190 


SpmnfOO - ' ■ - ■ • 90O-99JWH 

SLLnda 191-9974)001. 

Sweden (CO* 020^795-922 

SwtaerlandfCO* 1«4»222 

Trtnldjul &r Tobago ” *’ 

tSFEOAL PHONES ONLY) . 

United KragdomfCO , - . 

lb call ihe U.S using BT 0800-89-0222 

bolt the US. usmgMEJjdJM 0500690222 
To call anywhere other tlan the US0500«?06CKn 
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U5. Vli^n lsIandst CO 1^00-888^000 

YatioiQ CitytCO 172-1022 

Venezuela** : ' 800-11140 


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V ... Use your MO Card.'- local telephone card or call collect.. jB at the same low raus. 

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*SM***y i ; puhba rh.™ "tih . Rjic -11 aO .v^n ,n Mcmm. t Imcnui'wiid emer 

. * Kw wjibKr IruiruHkre'rh. Okms nun np* 'kT-’* "• tl '" w P h, ’ ni ' 


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imprime par Offprint, 73 ruede I’Evangite 75018 Paris. 










■ rue-irs-rr T-- 


APOLITICAL NOTES A 


Mine will Receive Top Civilian Modal 


WASHINGTON —Robert H. Michel, is retiring as 
the leader of House Republicans, and Laos Riridand, the. 
president of America’s largest labor organization, the AFL~ 
CIO, are among nine Americans who wBL be awarded the 
Presidential Medal of Freedom, the nation’sirighest civilian 
award. 

The White House said President Bill CKntrn? graft present 
the medals at a ceremony Au& 8. The other honorees are: 

• Herbal Block, the Washington Post' cartoonist better 
known by his pen name, H^block. Hehasamtribmedtothe 
newspapers editorial page for nearly half a century, naming 
nnmerotis journalism awards, including the Pulitrer Prize. ■- 

• Cesar Ch&vez, the late founder of the' United Farm 

he became one of the leaders. in the 

United States. 

• Arthur Flemming, who served in fcd e n rt government 
under every president from Fr anklin Delano Roosevelt to 
Ronald Reagan, including terms as secretary of health, educa- 
tion and welfare, chaimum of the White House Conference on 
Aging and chairman of the CSvfl Rights CommMon. 

• R- Sargent Shriver, the first director of the Peace Corps. 
He later ran President Lyndon B„ Johnson’s Office of Eco- 
nomic Opportunity and served as ambassador to Fnmce and 
chairman of the Special Olympics. 

a James Grant, executive director of Un i ccf , 

a Dorothy Height, a cjvQ rights activist for a half century. 

a Barbara Jordan, a former, member of congre ss from 
Texas and a professor who advanced- civil rig hts and rthirs in 
government. (AP) 


Government Not Ltabfo In Radiation Suit 


LOS ANGELES — Bringing tut cud to an acrimonious 
chapter in U.S. nuclear history, a federal judge has ruled 
against six men who claimed they contracted cancer from 
exposure to radiation at the Nevada Test Site, an infamous 
stretch of restricted desert north of Las Vegas. 

U.S. District Judge PMBip Pro ruled that the government 
was immune to lawsuits in such matters and therefore he had 
no jurisdiction to rule in the case. He went cm to say that there 
was not enough evidence to show that thecancers— ranging 
from a brain tumor to multiple myeloma — were caused by 
government negligence or that they stemmed from exposure 
to radiation. 

The case, decided in Las Vegas, was the last of the major 
lawsuits against the government stemming from nuclear 
weapons testing. The majority of the cases, along with annual 
demonstrations by anti-nuclear activists, focused on the arid 
expanse of desert where atomic weapons were tested above 
ground in the 1950s and early 1960s. 

Of the five major cases, the government has won four. The 
fifth is being appealed. Stewart Udaft, a former secretary of 
the interior who brought many of ' the cases against the 
government, including the one deckled this week, said the 
decision “dams the door shut” on future *nits against the 
government . (LAT) 

Kmnddy Cmtw IbClow to Autonomy 

WASHINGTON — President Ctiman has signed broad 
legislation transferring full control of the Kennedy Center 
from the National rak Santo' to the center’s board of 
trustees. 

“This is something the board and management of the 
Kennedy Center should be able to do as well or better than 
anyone m the country,” the center chairman, James D. 
Wolfensohn, who lobbied heavily for full autonomy. He said 
the change was needed to rectify an “inefficient and ineffec- 
tive” system of management. 

The law is one df the last steps toward ending die dual 
management' of the die performing arts complex, which, 
opened in 1971. Fully expecting the restructuring to be 
approved this summer, the center has started the transition, 
which is expected to be completed no later than September 
1995, the beginning of the renter’s 25th anniversary. 

The center has 3.5 mQfion visitors a year. : :•* (WP) 

Quote /Unquote ... 

Kathleen dcLaski. a Defense Department spokeswoman, 
acknowledging that hackers Lad broken into Pentagon com- 
puters through the Internet communications network: “I 
want to stress that the c«w™*nd and control of the Defense 
Department is in so danger.” (Reuters) 


Judge Delays Suit to Study Issue of Clinton’s Immunity 


Away From Politics 


• Air traffic controllen switched on the nation’s first wind- 
shear radar system, allowing th e m to give pilots earlier warn- 
ings of the dangerous shifting winds. The system at Houston 
Intercontinental Airport is the first of 47 Doppler radars to be 
i nataTlgd nationwide at airports in areas prone to storms. 

• Rain off the Florida coast kept Columbia and itsmmagerie 
of sea creatures and bugs in orbit an extra day, and will make 
shuttle endurance champions out of seven astronauts. Be- 
cause of storms, the National Aeronautics and Space Admin- 
istration prohibited the space shuttle from touching down on 
the landing strip at Cape Canaveral, Florida. 

• The Christian Science Church named David ; Cook editor erf 
the Christian Science Monitor, radaons Richard Caltam, 
who was named editor-at-large. McCook wffl also 'oversee 

Sthe church’s radio news broadcasts, the first time that both 
* the paper and the Monitor’s radio staff have reported to the 
same editor. - . . ‘ 

• AnlrantommipleatogidltytokiHngawomMibydousmg 
her with gasoline and setting her afire m whai the proscootor 
in JadcsamSteT Florida, called “a spontaneous act of barba- 

aSMsassaassSES 

J- to nav for gasoline. When the woman ret urn ed, 
Mn EtaSfaSJS* sp£wd her with fud, then chased her 
with a lighter until be set her ablaze. _ 

• An army sergeant was fomd gidlty of nmrdennga female 

{£*<££.»? w*«| 


tJ? TraSeSu. The Alaska 'Department of FiA and 
id that a return of 46.1 mfflkm sockeye 
W'l&ded * harvest of 32.3 million fish. Last spnng, 
S f hl !f n ^^t ^SSTreturn of 56 nriffion fish and a 


mind Mario Dessuti 


- LEATHER S 
;■ TRADITION 


By Sharon LaFraniere 

Washington Post Service 

WASHINGTON— A U.S. judge in 
Little Rock, Arkansas, said she will 
decide whether President Bill Clinton 
is immune from civil lawsuit while in 
office before allowing Paula Corbin 
Jones’s complaint against him to pro- 
ceed. It was a significant legal victory 
for Mr. Clinton, who is. accused of 
violating Mis. Jones’s civil rights by 
sexually harassing her in 1991. 

District Judge Susan Webber 
Wright said that the issue of presiden- 
tial immunity deserved priority be- 


cause lawsuits can distract the presi- 
dent from his constitutional duties. 

She said Mrs. Jones is but “a single 
individual” who is seeking relief “of a 
purely personal nature.” She also not- 
ed that Mrs. Jones waited nearly three 
years to sue, suggesting she could tol- 
erate further delay while the immunity 
issue is resolved. 

Judge Wright said Mr. Clinton, who 
wants to postpone the proceedings un- 
til he is out of office, was seeking “a 
fundamental protection from suit pre- 
viously unrecognized in any court.” 

In 1982, the Supreme Court ruled 
that Richard Nixon was not legally 


liable for acts within the “outer perim- 
eter" of his official responsibility as 
president No court has ever decided 
whether a sitting president could be 
sued for conduct that purportedly oc- 
curred before be took office, the judge 
said. 

Mr. Clinton may or may not prevail, 
the judge wrote, but he ciearly “raises 
significant and important constitu- 
tional issues, the resolution of which 
will directly impact the institution of 
the presidency.” 

The judge rejected the argument 
made by Mrs. Jones’s attorneys that 


U.S. procedural rules prevent her from 
considering the immunity issue firsL 
Mrs. Jones’s attorneys contended that 
Mr. Clinton must Tile a single motion 
that covered all the possible grounds 
for dismissal, including immuni ty 

“Certainly that is one way to handle 
a case, but it is not the only way it can 
be done.” Judge Wright said. 

Robert S. Barnett, Mr. Clinton’s at- 
torney, said be was pleased with the 
ruling. Joseph Cammarata, one of 
Mrs. Jones’s attorneys, said the judge 
did not reject his legal reasoning, but 
simply chose a different option on how 
to proceed. 


Attorneys predicted ihat Mr. Clin- 
ton’s claim of immu nity would ulti- 
mately be heard before the Supreme 
Court. Judge Wright said her decision 
would be immediately appealable. She 
gave Mr. Bennett until Aug. 10 to file 
his argument. 

Mrs. Jones, a former Arkansas stare 
clerical employee, alleged that as gov- 
ernor Mr. Clinton made sexual ad- 
vances and exposed himself to her 
while she was working at a 1991 state- 
sponsored conference. She also said 
Mr. Clinton and a state policeman 
violated her civil rights ana defamed 
her. 


Dedsionto Consult UN First 
Puts Off Any Haiti Invasion 




■ By Douglas Jehl 

Ne* York Times Service 

WASHINGTON — Presi- 
- dent Bill Clinton’s move to seek 
explicit UN authorization for 
force to oust Haiti’s nubtaiy 
leaders is likely to pul off any 
military action untfilate August 
at least, according to senior 
American officials. 

The decision reflects a sense 
of diminished urgency within 
the admtms tf u tiQn now that the 
flood of refugees from Haiti has 
dwindled to a trickle, the offi- 
cials said. 

They said it also shows Mr. 
Clinton’s uneasiness about tak- 
ing unilateral nulitaiy action 
even within the hemisphere un- 
less be sees no alternative. 

By seeking formal approval 
from the United Nations to use 
“aft means necessary” to re- 
move Haiti’s leaders from pow- 
er, Mr. CBnton hopes first to 
persuade the Haitian military 
that the United States is not 
alone in its insistence that they 
step down or face attack. 

The White House hope is that 
a UN endorsement would final- 
ly give credibility to months of 
American threats, which Haiti’s 
leaders have appeared to dis- 
count If Haiti’s nulitaiy leaders 
still refuse to leave, tbe officials 
said, advance approval by the 
Security Cornual might at least 
minimize the political risk to an 
invasion that is now being 
fiercely opposed by many in 
Congress, the Amer ican public 
and m Latin America. 

Taking toe matter before the 
Security Council raises the dan- 
ger that one of the other perma- 
nent members could veto it 

Hie administration is follow- 
ing much tbe same path as Pres- 
ident George Bush took nearly 
four years ago in seeking to per- 
suade President Saddam Hus- 
sein. of Iraq to withdraw from 
Kuwait 


Even as Madeleine K. Al- 
bright the U.S. representative 
at toe United Nations, outlined 
the plan on Thursday for the 
first time, administration offi- 
cials were expressing confi- 
dence that mounting impa- 
tience among other countries at 
the intransigence of Haiti’s 
leaders would lead the Security 
Council to give its backing. 

If U.S. citizens in Haiti sud- 
denly fall into peril or if Haiti’s 
leaders begin widespread at- 
tacks On civ ilians wi thin the 
next several weeks, the officials 
said, the president might still 
launch an invasion without UN 
approval. 

They said, however, he had 
concluded that the best course 
was to seek a go-ahead from toe 
Security Council, even if that 
meant waiting well into August 
to line up support and persuade 
other countries to join at least 
in small n umb ers in an Ameri- 
can-dominated invasion force. 

Under toe ad minis ! 
two-stage plan, the Security 
Council would give its blessing 
to efforts by the United States 
and other member states to do 
whatever necessary to restore 
the legitimate government of 
Haiti. At toe same time, it 
would authorize a UN peace- 
keeping force once toe govern- 
ment was restored. 

In practice, that would allow 
U.S. forces to play the domi- 
nant role in an invasion of Haiti 
authorized by the United Na- 
tions, rh«n to disarm and dis - 
man tle that country’s mOitaiy 
and finally to hand over power 
as soon as possible to the UN 
peacekeeping mission, in which 
American troops would play a 
small pan. 

Thai plan, they said, had 
been crafted with attention to 
the lessons of Somalia, when 
the abandonment of an Ameri- 
can-led effort to disarm waning 
■dans left U.S. forces in pern 
and tbe country still in anarchy. 


Many details about the U-S. 
plfln for Haiti remain unre- 
solved, including whether toe 
United States would ask toe Se- 
curity Council to set a specific 
deadline for Haiti's military 
leaders to step down. 

But American officials ex- 
pressed confidence that the 15- 
member group would endorse, 
perhaps by the end of next week 
and probably by early next 
month, the threat to use “all 
means necessary” to force Hai- 
ti’s leaders from power. 

While China has usually been 
un enthusiastic about military 
intervention by others and Rus- 
sia has used discussions on Hai- 
ti to press for sending its own 
peacekeepers to Georgia, toe 
officials said they did not be- 
lieve either country would 
block the U.S. plan. 

Among Latin American 
countries who now bold seats 
on the Security Council, Brazil 
is known to have reservations 
about an invasion, but U.S. of- 
ficials said Mrs. Albright's 
meeting Thursday with her Bra- 
zilian counterpart had left them 
hopefuL 

They also were confident that 
Argentina, which has joined 
with the United States. Canada, 
Venezuela and France in con- 
sultations about how to end toe 
standoff in Haiti, would ulti- 
mately support Washington. 

No previous American presi- 
dent ever sought UN approval 
in advance for military action 
within the Western Hemi- 
sphere. 

■ Israeli and Dutch Roles? 

An Israeli official said toe 
United States asked Israel to 
join a peacekeeping force in 
Haiti if one is organized. The 
Associated Press reported Fri- 
day from Jerusalem. 

A spokesman at the Dutch 
Defense Ministry confirmed 
that his government had re- 
ceived a similar U.S. request 


u i 


W ,41 







*’ i. '/lPV-J'/ 








1 D ■ 






Eduwdndi Baui/Tbe A-oocutcd Pm* 

Two members of Argentina’s Jewish c ommuni ty attending the protest in Buenos Aires. 

100,000 Argentines Protest Fatal Bombing 

The Associated Pnss med Yousif, 31, an Iraqi detained while trying to 

BUENOS AIRES — Outraged over toe bomb- cross the border to Brazil in Paso de los Libres. 
ing of a Jewish center that killed at least 42 He was still in custody Thursday night. 

ETfc JHiSS An Israeli Foreign Ministry official, Dov 

m 10 demMd die pture of thosc Schmorak, said he believed the attack originated 

ounu ill* For tin from outside Argentina, “from the Middle East.” 

Ten blocks away, the search for bodies conun- ^ added, “It’s difficult to imagine there wasn’t 
ued. But hopes of finding survivors m toe rubble local heto " B 

dwindled. Sixty-five people were missing and at £_ F \ , .... . , . . 

least 206 were injured m Monday’s explosion, The seven-story building that was leveled 

officials said. 

“The strongest possibility is that it’s a car 
bomb,” said an official at the Israeli Embassy. 

Israeli intelligence agents and toe FBI are aiding 
the investigation. 

Judge Juan Josi Galeano questioned Moham- 


housed offices of toe Argentine Jewish Mutual 
Association and the Delegation of Argentine 
Jewish Associations. 

President Carlos Satil Menem, his cabinet and 
leaders from nearly every sector of Argentine 
society attended toe march. 



NEW FALL 
COLLECTION 

ESCADA 

In Paris 

Also, Sales 
on Summer Collection 

Marie-Marline 

8, me de S&vres, j 

Ptrto VUi 


Evwy Saturday 
Contact 
FredRonan 
Tel.: (331) 
46 3793 91 
Fax:: (33 1 } 
4637 9370 
oryournearesl 
iHT office 
or representative 


AMSTERDAM 


HAESJE CLAES 

IgoJ Dneh GotAhaj O dm from loneK utff 

ToL 624 W9S. Caurvcfcre rtcormxnltd. 
At major ewdlecnk. 

NtASSBHEMROODClfEUW 


* 


Doavcfc 9394 Aimivdara 
OmXNM. DUTCH CUSM ‘ 
luadi/Dtarnr.Opw; T2 noavlOpja. 
ftLOT 55S066&. <*ns*s'cc.ocap*L 

- PUOSZnd 

AUX LYONNAIS 

T t o d ManJ fcfato cooldng in txjtwrfc 1900 
(beer. EmBaN vrinet & nHr«d wotera. 
3Z, St Mmc.T«L:(>) 43M6S<M. 

HUBSftfi 

NEWRJRSTENBBfG 

Amrfm Mfcmw* of the W* 


La LA ROCHEUE 

La pabten a trouv6 son raefer* 
Obad fam m M, ihdUi, M«nw Often, 


PAWS 15th 

IE WESTERN 

Tlw falnm hr loom, 
of i 

AiwkiinLTwWw a* rkihm 
Ferry &prau Mem hckjdng a 
dxkm J md non cdumb 

writfi ooM «d bwN» 



PRICE. 


j- o i> ‘hi - :** -M $ K 

IX. W 'dr Brrri 

il aw? 1 ‘ 1H:W - • • 


IE PETIT ZINC 

HwfTanuui ll(*«wnl 

faring 5K3on>ipfcida*W». J( 0 *enal 
aiWno. Goni value for mow, MaMoned 
in ewy flu^o. 1 1, ni* SoiaiJjnoi). 
T^426T lamLOpanB^dor^^*” 

LE MUNKHE 

Tha Bramrio of Iha Vi. , , 
SperitAeE eefi fe'itoBB*’, seabed 

BmoA ropna x Gewowteritt. 

Ttr^ZAl.iaJD. 

YUGARAJ 

Holed ca b«J hdoi reScwort.ni Frorsa 
kr *e hedog goifej (dr rondBoned). 14, 
cue D«pta?Tj23sS4.91 . 

MBS 7ft 

LA PETITE CHAISE 

Defame coma at the dial its tarort In 
Pm. Mom 170 FF daly. 36.raedoGrendh 
•faL (1)4733.1335 

THOUMIEUX 

Spaciaiihec el South W»i Cord* tfa 
j ja i ml £ nwnrirt 6u conh da cnw. Ak 

Mb kwoSiJes Termini 




MBS 17 ft 

AL GOLDEN BERG 

MA haingi - Itartoal - Cream cfeoa band 
and lax homnmoda - Cheeta eaea & a fa 
trad. Jawiih »pac. 69 Av. de Wogmm. 
TA4Z37J4^Ka»d^upiBwfch§i 


CHEZ FRED 

OneoFfecfclanbissoiofPDfe. 
fr*nd» fucHcnd crohre, 190babd 
Hi 457430^8 

IE QOS SAiNTE-MARIE 

mdlH flaiwand famot, 

on a pednhtan wall. Cain dw o w h ew - 
IiodilBool aim, near Etoik and Forte 
MoiSoi. t. plow Charlm FiHian Td.: 
4627J3J7.-, 


DAMEOPATACCA 

Tu*wn . BaL tinijm hr hn hod, iwtl 
hUora. 00153 R»b, R«93.T75te31086 


KKVANSARAY 

T»bdi£ Ml ipecjohie, lobster bar. bni 
sedood lataurani. I si loor MoWcnJr ?. 
TeL; 5 128843. Af conSfaned. BOn-Opera 

Noo>3ml£ 6 pA-lajn., nap* Smany. 


AMSTERDAM 

CROSSROADS NTERNAT10NAL CKJR- 
CH WertJenomfrietonaJ & Cwamrteal Sun- 
day Service 1000 am. 4 TlaTjum/Kids 
Wd co m a. Da Cuoatatraoi 3, S. Amstot da m 
No. 02B40-1 5316 Or 02503-41 399. 

KIEV 

INTERNATIONAL CR1ST1AN ASSEMBLY 
CAOO) An EvargaBeaMntef-denomlnaltonal 
FelcwaNp mee&w. m 1030 tm. in 
KbV% Couid of Tratle Untons buBdina 16 
Khmachatk Street. Contact Pastor Eldon 
Brawn at (7044) 244*3376 or 3502 
LYON 

LYON CHRSTIAN PELLOWSHP.1 bto (UB 
PJ_ Bemabr, 69100 Vfcurbarra Sundays 
7500 pm. TaL- 72 36 36 52. 

MILAN 

AIL SANTS CHURCH 
dumg MtooDon wi 

Mtano to ffia Chepd or ma usoma raun. 
Communion Sundays at 10-.30 and 
tm 1930. Suxfey School, YoUh 
Cw*a.Cofae, study noupa and 
oommurtty actjvUoa. Al are we lc om e ! Cat! 
(02)6652258. 

MUNICH 

NTSTNATIONAL COhMUNTY CHLBCK 
B«roeteaL Bblo Baievina aatvtcas in EfxS- 
ah A.'fspjn Sundew at Shuter S 1 . 10 (tfe 
Therenanstr.) (069)^4574. 

MONTE CARLO 

1NTL FELLOWSHIP. B Rue Louto-NoOri. 
Sunday Worship 11:00 & 6 p.m. 
ToL 92.1 asaoa 

PAMS and 5UBURB5 
auMANUEL BAPTIST CHURCH. 56 Rue 
dsa Bons-Hatslne. RuaiLMatm arson. An 
Bangefical tor tie Engfch epon k ng 
community located in the wraslem 
subutisS. 9U5; Worehip: 1Q45. ChAtort 
Chinch ad Numery. YcUh mriisWas Dr. BO. 
Tbomas, pastor. Call 47.51.29.63 or 
4749.1529 fertnfcwhafav. 

HOPE NTERNATIONAL (XURCH (Etun- 
yfcaJ). Sun fc» am. Hati Onon Metal : 
SpianadB da La OUense. TaL 47.735354 
or 47,75.1 427. 

THE SCOTS KIRK JPRESSYTWIAN) 17. 
iub BatonL 75000 Paris. Metro FD Roose- 
vet Farrdy service & Suiday School X 1030 
am. away Sunday. Alwr a toom a . For irfaim- 
(fan 48784791. 

SAINT JOSEPH'S CHURCH (Roman 
Catholic). Masses Saturday Evening 
630 pm, Suiday. 50. awenuB Hoche. Pas 
Bth. Tel: 42272B&. Metro; Charles de 
GatAa-Etoda. 

^GtodtsPowhtwThWWortd^Uii- 
tarian Unhwaafet Worship Service wth Rev. 
Art Lester. Jura 12, al 12 noon. Foyer de 
TAme, 7 bis. me du Paseur Wagner, Pans 
lie Bassfe. Alemate sendee vdh Rev. 
Trevor Jones Juw 26 al mantels hcmeRe; 
igfaua educafen far teens aid chicken. ChSd 
care. M o d M kn and apirtltai gtwih graips. 
Social activities. For informalion call: 
43.795937 or 42.77S6.77. 

THE CCNS5WATWE JEWISH CCMAJM- 

TY r Parts -Adah Shalom- ™tes you to jon 

Uiem tor Rogh Hadnnah and Yam Kfapu 
services. For derails and sears, phone 
45^84J6 or Mte Adah Shatom, 22 us. 
tub das BefesftuiBs. 750IG Pais. 

STRASBOURG 

ST. ALBAN (An^ear^ a lE^se des Domn- 
cans. Eucharist 1030 am. comer BM. de o 
Vlaoire & me de runiuersfee. Strasbourg 
(33)88350340. 

TIRANE 

NTERNATIONAL PROTESTANT ASS3I' 
BLY, Wadanom na fanal & Eongaical Sa- 
vices Suv 1030 sm, 530 pm. Wed a00 
(un ftu gaMy stym Shyrt. Td'Fw 355-42- 
42372 0fS2B2. 

TOKYO 

ST. PAUL INTERNATIONAL LUTHERAN 
CHURCH, near Mabuta Sin. TeL- 3261- 
374U WMrjp Serauc R3D am. SuidatS. 


TOKYO UMON CHURCH near Omolesan- 
do afcway ste. TeL 34000047. Worehto aar- 
voes Smday I0i00 emonfy. 

USA 

H you world Bm a tee BUa oouse Cy mai. 
deasa comasc 1 /EGLKe da CHRIST. P.O. 
Bor 5ia Sauaoalndtona 47881 USA 
VIENNA 

VENNA CHRISTWJ CENTBT, A CHARS- 
MATIC FELLOWSHIP FOR VIENNA'S IN- 
TERNATIONAL COMMUNITY, * Engteh 
Languaga ' Ttans-dano mraa fonal, moos at 
Haigassa T7. 1070 Vienna. 630 pm Every 
Sunday. EVERYONE IS WELCOME. For 
more Wcematton cat 43-1-318-7410. 

THE EPISCOPAL CHURCHES 
OF EUROPE (AngEcon) 

PARIS and SUBURBS 

THE AFRICAN CATHEDRAL OF THE HO- 


George Vor Aha Mareeau. 

FLORENCE 

ST. JANES’ CHURCH Srn 9 am Rte I & 
11 am. Rite II. Via Bernardo RuceHal 9, 
50123 . Ftorenco. ttaly.Tet:39i5S2944 17. 

FRANKFURT 

CHURCH OF CHRIST THE KING (EpfaCO- 
paVAngleari} Sux Holy C o mmunion 9 & 11 
am Stnday School and Nursery 10A5 am 
Sebasdan Wra St 22. 80323 FrankfarL Ger- 
many. U1, 2, 3 Miquel-ABae. Tat 49/B9 
560184 

GENEVA 

EMMANUEL CHURCH 1st, M A 5Bh Sun. 
10 am. Eueharel 4 2nd A 4h Sivt Morning 
Prayer. 3 rue de Morthoux. 1201 Qerwua, 
Swtzeriand TeL: 41/22 732 8D 78. 

MUNICH 

THE CHURCH OF THE ASCENSION, Sul 
11:45 a.m. Holy Eucharist and Sunday 
School Nursery Care provided SeyOorhstras- 
se 4. 81545 Munich (Hartecrtng), Germany. 
TeL 49B9 64 81 85 

ROME 

ST. PAUL'S wrrHW-TTe-WALLS. Sun 030 
am. Eueharid Rte J; 1Q3D am Choral 
Eu^arslntell:1030amChiicriSdDOltar 
chiiwi & Nursery care provided: 1 pm. Spa- 
rash Eucharist Vra Napol 58, 00184 Ftoma. 
TeL 396488 3339 or 3»474 35®. 
WATERLOO 

ALL SAINTS' CHURCH 1st Sin. 9 & 11:15 
am Hriy EucftareS wifi Ctddren's Chapsl at 
t!:lEAIefterSi«Jays:ll:l5am.HolyEu- 
chant and Sufaay SdvoL 583 Chaussae de 
Louvara. Chin. Bwguri TaL 32/2 3843B8. 
WIESBADEN 

THE CHURCH OF ST. AUGUSTINE OF 
CANTEFfiURY, Sin 10 am FpmN Eucha- 
rist Frankfurter StraEse 3. Wiesbaden. Ger- 
many. TeL 4051 1 30 06.74 

EUROPEAN 

BAPTIST CONVENTION 
BARCELONA 

FAITH FEaOYJSHIP INTERNATIONAL 
rree&erSOOam.BonaNcMaBapElCrv'- 
di Carer de la CwtaUfaBaiaguer 40 Pastor 
Lance Sonfan, Pn-43M05B. 

RERUN 

INTERNATIONAL BAPTIST CHURCH. 
BERLIN. Roftertug S*. 13. (SteoNai. B«e 
study 1045. Hotshp at 1200 eadi Stntey. 
Charles A Warlord. Pastor. TeL 030-774- 
4670. 

BONN/KdtN 

THE INTERNATIONAL BAPTIST CHURCH 
of BONNKOLN, Htenau Ssasee 9. Kfih. 
worship IfO p.m. Cahm Hogue. Pastor. 
TeL 102236} 47021. 


BRATISLAVA 

BtotaShfaylnEn^sh 

Pafisady Bepfist Church Zfaskaho 2 1830- 
1745. Cortad Pastor Jozap Kutack. Tel: 
318779 

BREMEN 

NTERNATONAL BAPTIST CHURCH {En- 
gfish language) meals al Bangateh-Frefc* 
chieh Kreuzgamalnde. HohanloheslraBEa 
Hernianrv8oB»Str. (Brand the comer ten 
tie Batmtof) Sunday worehfa 1730 Ernest 
D. Water, pastor. TeL 04791-12B77. 
BUCHAREST 

INTERNATIONAL BAPTIST CHURCH. 
8ncta Ftape Runt 22. 330 pm Contact Pea- 
tor Mfca Kemper. Tel 312 3860. 

BUDAPEST 

frtemsftjnel Barts! Fetawhlp. II Bnfao u. 56 
train entrance Tapotearwl u. 7. tenedUely 
behtod trart artrenca). 1030 BUe study. &00 
pm Pastor Bob Zbtodsa TaL 1158116. 

Reached by txa 11. 

BULGARIA 

INTERNATIONAL BAPTIST CHURCH. 
World Trade Center, 36, Drahan Trantov 
EM. Worship 1130. James Duka, Pastor. 
TaL 704367. 

CELLE/ HANNOVER 

INTERNATIONAL BAPTIST CHURCH. 
MrrtnAen St rasse 45. Ceie 1300 Mtorshp. 
1400 Bble Sbdy. Pastor Wan CampbeL Ph. 
(05141)46418 

DARMSTADT 

DARMSTAOT/EBERSTADT BAPTIST MIS- 
SION. BUe study & Worship Sunday 1030 
am. St a dwtosion Da-Bxretsa, Boescheiar. 
22. Bble study 93a worahfa 10>4S. Pastor 
Jim Wstob. TeL 0615^6008216. 

DUS 5 ELDORF 

NTERNATIONAL BAPTIST CHURCH. En- 
glish. as. 10«I worship 11:05. ChMtel'5 

churhandnursay.MeelsaltheHematcinal 
School, Lwchtertourger Kindiureg 2J>44al- 
serewerih. Fnendy tofamshp. Al denomra- 
lions welcome. Dr. W j. Delay. Pasior. 
TeL 021 1M00 157. 

FRANKFURT 

NTEHNATIONAL CHRISTIAN FELLOW- 
SUP Euangefsch-Freidrehidie Gemelnda 
Sddenentr. 11-1 a 6380 Bad Hamburg, (to- 
na/Far 061 73^2728 servng the FranMurt 
and Taurus areas. Germany. Sunday wor- 
ship 09:45. r«sery + SuidBy-shool 1(HX). 
women's btoto studat Hoiaegroups - Sur- 
day + Wednesday 1930. Pasior M. Levey, 
member Eurepwn Baptist Corwertkn. "De- 
dare Hs ^oty amongst ihe nations.' 

BETHEL INTERNATIONAL BAPTfST 
CHURCH Am Datfasteg 92. Frankhrt ai«L 
Suvtoy woshp 1 1*0 am. and 630 pm. Dr. 
Thomas W. HA pastor. TeL 06B««55a. 

HAMBURG 

INTERNATIONAL BAPTIST CHURCH 
OF HAMBURG meets at TABEA FEST- 
SAAt, AM 1SFELD 19. Hamburg-Ostdor! 
BUe study tl 1130& Worship al 1230 eatfa 
Stefay. Tel: 040020616 

HEIDELBERG 

GRACE INTERNATIONAL BAPTIST 
CHURCH, todustne Sir 11. 6802 Sandhau- 
sen. Ktestuor 09:45, Worertp 1130. Paster 
Par HendrtXL TaL- 06224-52295. 

HOLLAND 

TTWITY BWT1ST SS. 930. WetShp 1030. 
nursery, warm loSorvship. Meats al 
Bioemcamplaan 54 In Waseenaar. 
TeL 01761-78024. 

MOSCOW 

NTEHNATIONAL BAPTIST FELLOWSHIP 
Means 1100: Kno Center BuUng 15 Dre- 
DnetmuMlQ)0 UL 5(h Root, Hai 8, Metro 
Siaon B anfaa bya Pastor Brad StamcyPh- 
8395) 1503299- 


MUNICH. 

INTERNATIONAL BAPTIST CHURCH OF 
MUNICH. Hofcstr. g EnoSsh Language Sar- 
vtoac. BMs study ism Worship Sendee 
17«a Pastort phono; 8808634. 

PRAGUE 

Marn all on a l BapBM FetawNp meets ai lha 
Czech Baptist Chinch Vravadska A 68. 
Prague 3. At metro slop JWhoz Portebrad 
Sunday a.m. 11:00 Paator: Bob Ford 
(02)311 0693. 

WUPPERTAL 

Intamedonar Baptist Church. Engfish. Ger- 
man. Persian. Wor*ip 1030 am, Saterstr. 
21. Wi^pertal - Ebertetd. Al denomin a tions 
welcome. Hans-Dleter Freund, pastor. 
TsL0202W6B83B4. 

ZURICH 

INTERNATIONAL BAPTIST CHURCH at 
W&denswH (Zurich). Switzerland. Polar 
Jenkins Lelgrubenatr. 11 CH-8805 
Rlchterswil. Worship Services Sunday 
momtogs tiro TaL i-TOBSIZ 

ASSOC OF INnaflJRCHK 
IN EUROPE ft MIDEAST 

BERLIN 

AMERICAN CHURCH IN BERLIN, cor. of 
Ctay A9ee & Po tad amer Sir, &S. 930 am, 
WorsMp 11 am TeL- CO«13a»1. 

BRUSSELS 

THE INTERNATIONAL PROTESTANT 
CHURCH OF BRUSSELS. Sunday School 
930 am and Chuth 10:45 am Kaftytborn 
19 (at the Int- School). Tel.: 673.05.81. 
Bus 95. Tram 94. 

COPENHAGEN 

NTERNATIONAL CHURCH ol Copenhagen, 
27 Farvergade. Vertov, near R&ftns. S&fay 
10:154 Vteshp 1T30. TaL 316247BS. 

FRANKFURT 

TRMTY LLHVCRAN CHURCH Nfaetongen 
Abe 54 (Aodgs ten Burner Hoapta), Sin- 
day Schod 930. wortftfa T1 am. TaL- (069) 
£09478 of 51 2552. 

GENEVA 

EV. LUTHERAN CHURCH rf Geneva. 20 
me Verdana Sunday worship 930. to Ger- 
man 1133 to Engfeh. Tei: (Q22J 3105089. 

JERUSALEM 

LUTHERAN CHURCH of the Redeemer, OM 
City. Murlslan Rd. EngSsh worshp Sun. 9 
am. At are we to a n e . Tel- tCB) 281-049. 

LONDON 

AMERICAN CHURCH n London at 79 T«- 
tertoam Cl. Rd Wl. Worship a 9.00, SS St 
10.00 am. Sung werttop N 1 1 am Goodga 
SLTiiwTet 071-5802791. 

PARIS 

AMERICAN CHURCH IN PARIS- Worship 
1130 am 65. Qua dOsay, Pans 7. Bus 63 
al doer. Mara Akna-Marceau or InuaUes. 

STOCKHOLM 

IMMANUEL CHURCH. Worahip Christ in 
Swedish. English, or Korean. 11:00 am. 
Sunday. Birger Jarlsg. al Kunasiensg. 
17. 46/08/ 15 12 25 « 727 for more 
nfat ma aort. 

VIENNA 

VIENNA COMMUNITY CHURCH Sunday 
worship in English 11:30 A.M., Sunday 
school, rrinsery. H&national. a 6 denomine- 
tons weksmo. Doratoseigasse 16. Mama 1. 
WARSAW 

WARSAW INTERNATIONAL CHURCH, 
pmesw En^h tankage eapaDfaiss, Sun- 
days 1130 am (Sept-May). 10 am (June- 
Aug.]: Suiday School 9^5 (Sept-May) UL 
Btetowa21. TeL 43-29-70. 

ZURICH 

WTEFNATONAL PROTESTANT CHURCH 
Engfch spewing, wwtettp seniice. Sunday 
School & Nureery. Sundays 1 1 30 a.m„ 
Scharaengasse 25. TeL (01)2825525. 


tt y- V V H 5 S. 





*ir* *ir-r- -j^tturtftfi^ni-n-a^Tti-nnnnmmnriAnnnnnuanit.** 



Burma in ASEAN? It May Be in the Cards 

West Fears Membership Would Ease Pressure on the Regime 


By Michael Richardson 

Imernarimd Herald Tribune 

BANGKOK — Burma was welcomed 
Friday as a potential member of the Asso- 
ciation of Sooth East Asian Nations de- 
rite concern from Western countries with 
ties to the ASEAN group that such 
action would reduce pressure on the Bur- 
mese military regime to end political re- 
pression. 

U Ota Gyaw, tile Burmese foreign min- 
ister, attended the opening session of the 
amnia! meeting of foreign ministers of 
ASEAN as a guest of Thailand. 

■ With foreign ministers attending from 
Vietnam and Laos as observers and the 
foreign minister of Cambodia as a guest, it 
was the first tune that ministers from all 10 
countries of Southeast Asia had been at an 
ASEAN conference. Members are Indone- 
sia, Malaysia, the Philippines, Singapore, 
Thailand and Brunet 

Nguyen Manh Camh, the Vietnamese 
foreign minister, said his country was 
"now actively making practical prepara- 
tions to become a full member of ASfcAN 
soon.” Some ASEAN officials predicted 
that this could occur within two or three 
years. 

During the Cold War, ASEAN and the 
three nations of Indochina were on oppo- 
site sides, while Burma was in self-imposed 
isolation. However, as the Indochinese 
states and Burma moved away from state 
socialism and adopted market-opening 


policies in recent years, differences with 
ASEAN woe sharply reduced. 

ASEAN’s trade with, and investment in, 
the four neighboring countries, all of 
Much have rich natural resources and 
cheap labor, has increased substantially. 

“The trend, as never before, is toward 
greater regionalism” and “a truly regional 
community of nations of Southeast Asia,** 
said Prasong Soonsiri, the Thai foreign 
minister. 

Welcoming U Ohn Gyaw’s presence, he 
saw? that Southeast Asian regionalism 
might in the foreseeable future be expand- 
ed to include the Indochinese countries 
and Burma since they were ^progressively 
advancing toward market-onented econo- 
mies.” Other ASEAN ministers expressed 
similar sentiments. 

“While expansion of ASEAN member- 
ship wil] no doubt lead to adjustments in 
consultation and deriaon-making proce- 
dures, an expanded ASEAN will mean a 
more dynamic Southeast Asia, which in 
turn will fuel the ongoing energy which 
pervades the Asia-Pacific” region, said S. 
Jayabumar. Singapore's foreign minister. 

However, the united States and Austra- 
lia — winch will join tire European Union, 
Japan, South Korea, Canada and New 
Zealand next week in Bangkok for annual 
talks with ASEAN — recently expressed 
reservations about the group’s policy of 
“constructive engagement” with Burma. 

Gareth Evans. Australia’s foreign minis- 


ter. said Thursday that the Burmese junta 
had not done enough to improve human 
and political rights to justify being invited 
to the ASEAN meeting. 

Winston Lord, the U.S. assistant secre- 
tary of stale for East Asian and Pacific 
affairs, said in Washington on Wednesday 
that American policy toward Burma was 
“more one of ostracism” than engagement 
He said the Clinton administration had 


seen no real signs of progress in human 
rights in Burma “and 


we think there’s 
some dangers to overly engaging than and 
perhaps suggesting legitimacy versus our 
policy.” 

Mr. Lord urged ASEAN to press the 
Burmese military regime to hold talks with 
the detained opposition leader. Daw Aung 
San Suu Kyi, on political reform. Daw 
Aung San Suu Kyi, who was awarded the 
Nobel Peace Prize in 1991. on Wednesday 
began her sixth year under house arrest in 
Rangoon. 

She led the opposition National League 
for Democracy to a landslide victory in the 
1 990 elections, but the military ignored the 
result and refused to transfer power. 

Thai officials said the Burmese military 
government had taken a number of steps 
m the past year to improve the situation 
and was now ready to open direct talks 
with the United Nations. This “indicates 
that the Burmese government is ready to 
cooperate with the outside world,” Mr. 
PRtsong said. 


Rwanda's 

Refugees 


United Nations estimates 
of refugees who have fled 
Rwanda as of Thursday . 



Bukavu 

200,000 


w 460,500\ 
Ngara 


400,000 
Uvira 

Lake Tanganyika 


No Doubts 
la Paris 


•ii 



Rwanda 


By Joseph Fitchetl 




Japan Conservatives to Join Anti-Nuclear Protest 


Source: UN High Commisskjnor for Refugees 


MmatHaul HaaU TYttume 


PARIS — French officials 
say that up to 2 mil l i on more 
Rwandans are liable to flee to 
in the coming weeks, pos- 
sibly doubling the crushing 
weight of refugees there, as 
French troops puff backhand 
finally leave their security zone . 
in Rwanda. 

Tte Hum population, fearing 
fresh onslaughts by the new 
Tutsi-controlled rulers of 
Rwanda, will be tempted to 
seek the safety of the dosea 
foreign territory. 

The worsening humanitarian 
crisis is unlikely to modify rig - 
mficantiy French determina*. 
tion to use the cessation of hos- 
tilities as the occasion for a 
c fcatn exit by its armed forces, 
ending an Intervention that fi- 
nally won international support- 
only after it was completed. 

In the view of French; t: 
makers, the rest of the 
can now be expected to take up , 
the rdief challenges in the wake 
of a slaughter that France akxne^ 






Reuters 

TOKYO — The conservative 
Liberal Democratic Party of Ja- 
pan has accepted an invitation 
from Prime Minister Tomiichi 
Murayama’s Socialists to take 
part m a rally against nuclear 
arms next month, party officials 
said Friday. 

fa an effort to solidify his 
unusual alliance with the Liber- 
al Democrats, Mr. Murayama 
declared this week that his So- 
cial Democratic Party would no 
longer fight on constitutional 


grounds to scrap the country’s 

militar y 

Now the Liberal Democratic 
Party has accepted a Socialist 
invitation to take part in an 
annual rally of the Japan Con- 
gress Against Atomic and Hy- 
drogen Bombs; or Gensuikin. 
from Aug. 3 to 6. 

In addition, the president of 
the liberal Democrats, Yohei 
Kono, Mr. Murayama’s deputy 
and foreign minister, has said 
his party will not seek to revise 
Japan’s pacifist constitution, as 


called for in the party’s plat- 
form. 

The liberal Democratic Par- 
ty, which returned to govern- 
ment in a coalition with the 
Socialists on June 30 after los- 
ing power last August, has long 
campaigned to rewrite the U.S.- 
drafted constitution. 

More than 8,000 Japanese 
anti-nuclear activists and dele- 
gations from international 
groups are to take part in the 
anti-nuclear rally in Hiroshima, 
where the United States 


dropped the first atomic bomb. 
Traditionally, the Liberal Dem- 
ocrats refuse to attend Geasuir 
kin events because the Social- 
ists sponsor the organization. 

Gensuikin officials said they 
hoped the party's move would 
be a step toward the group’s 
goal of a law to bdp “ tuboku - 
ska” people who suffer from 
exposure to radiation. 

The government recognizes 
340,000 hibakusha, but the 
anti-nuclear camp says the 
number is far larger. 


RWANDAj bi the Camps, Scenes from the inferno 

was putting the agency’s reputation an the fine 
by saying he thought it safe for the refugees to 


Christopher Urges Patience for Syria- Israel Pact 


Coutiaoed from Page 1 

renewed attacks by marauding soldiers of the 
defeated Hutu army. 

Reporters saw one man being savagely 
clubbed after a rumor spread that Tutsi were 
poisoning water supplies to kill Hutu. The bodies 
of several others who had dearly been beaten to 
death lay nearby. 

The massacres began after the Rwandan presi- 
dent, Juvtnal Habyarimana, was killed m an 
airplane crash on April 6. His followers in the 
defeated government have taken his body to 
Zaire, along with Rwanda’s cash reserves, and 
Reuters reported that they were staying not with 
tiie refugees but in tile priciest holds in the 
vital, Kinshasa. 

new government in Rwanda, which the 


capita! 

The 


Hutu refugees fear is led by Tutsi supremacists 
l the refugees to return 


By John M. Goshko 

Washington Part Service 

SHANNON, Ireland — Secretary of 
State Warren M. Christopher said Friday 
that be believed there was a great opportu- 
nity for progress in the peace talks between 
Israel and Syria, buz he also warned that it 
would take considerable time to close the 
gaps which are still dividing the two adver- 
saries. 

Mr. Christopher gave that assessment to 
reporters aboard his airplane while return- 
ing home from a weeklong Middle East 
visit that included two days of talks with 
Hafez Assad, the president of Syria. He 
said that both Mr. Assad and the Israeli 


prime minister, Yitzhak Rabin, bad asked 
him to resume his mediating role quickly, 
and that be had agreed to return to the 
region in early August 

“We should not expect a significant 
breakthrough in the near future,” Mr. 
Christopher said. “I do think there’s a 
great opportunity to make progress on the 
Syrian trade. But while there’s opportuni- 
ty, the gaps are considerable.” 

Mr. Christopher acknowledged that 
there was a substantial difference between 
the agonizingly slow pace of the Syrian- 
Israeli talks and the dramatic break- 
through in IsraePs current negotiations 
with Jordan. 


President Bill Clinton is to hold a White 
House summit meeting Monday between 
Mr. Rabin and King Hussein of Jordan 
that is expected to conclude with a declara- 
tion ending the 46-year state of hostilities 
between Israel and Jordan. 


■ Israeli Troops Kfll Palestinian 

Israeli troops killed a Palestinian man 
during a riot Friday in the West Bank, The 
Associated Press reported. 

Meanwhile, thousands of Palestinian 
opponents of the pence prdeess demon- 
strated in Gaza, defying threats by Pales- 
tinian authorities to crack down on oppo- 
sition. 


out to kifi them, called on 
on Friday, assuring them they had nothing to 
fear if they had not taken part in the massacres. 
The prime minister, Faustin Twagjramungp, a 
Hutu, said the aid agencies should offer food on 
Rwandan soil as anmeentive for the refugees to 
return, _ , , 

Ray Wilkinson, a spokesman for the High 
Commissioner for Refugees in Goma, said he 


return. 

Mr. Butros Ghafi said he had asked a senior 
aide to go to Rwanda to discuss the return of the 
refugees and the coordination of humanitarian 
aid. 

He saidxt was the government's responsibility 
“to ensure drat there is neither reveage nor 
reprisals, and that all Rwandese can return in 
absolute safety to their homes.” 

“The drde of suspicion and ethnic hate must 
be broken,” be added. • 

But the Patriotic Front's assurances fdl mostly 
on deaf ears, with only a few hundred refugees 
derating Friday dial they would sooner trust 
their hra with tbe new regime in Rwanda than 
face starvation and cholera in the festering refu- 
gee MH l jw ■’ 

French officials said the Patriotic Front had 
it conditions on the return of people to their 


intervmedto limit. 

Appeals on Friday by the 
Clinton administration, the 
United Nations and others for 
France to leave its forces in 
place in' Rwanda beyond their 
slated withdrawal date of Aug. 
21 will fall on deaf ears in Paris, 
French officials said Friday. 

Asked if France might have 
second thoughts, a French pofi- 
cymaker said: “Not at all. 

. His terse verdict reflected a 
mood in Paris forged during', 
weeks when France acied inde- 
pendently in Rwanda,' sent in 
peacekeeping troops without 
waiting for a cease-fire and held 


asccantyzonctoprevenlgeno--' 
Until now.rrencb actions - 


in chiding a requirement that they be 

nOyhave 


illiterate iwH that pQjOTlber n f thfir famil y 1 

belonged to the Rwandan armed forces. A for- 
mer go ver nm ent official said he was afraid the 
Front would kill any Hutu who could read or 
writer 


SLANG: A New Dictionary Runs From 6 A 9 to ( Gytch y 


Coatinned from I*ge J 

tended from “A” (as in “you bet 
your fat A!”) to “gytoh,” a 


Secretary Reframes U.S. Obligation in Rwanda 


1950-esque term meaning “to 
steal” C*Doa’t 


By Elaine Sciolino 

New Turk Tima Service 


SHANNON, Ireland — Sec- 
retary of State Warren M. 
Christopher said Friday that 
genocide was occurring in 
Rwanda but that tbe United 
States and other nations have 
no legal obligation to stop it 
In remarks to reporters cn 
route to Washington from Da- 
mascus, Mr. Christopher also 
said that the United States, 
Russia and the Europeans must 
now decide how to penalize the 


Bosnian Serbs following their 
rejection of a plan for peace. 

And be hinted that King 
Hussein of Jordan and Prune 
Minister Yitzhak Ratal of Isra- 
el may announce a declaration 
ending their 45-year of a state 
of war when they meet publicly 
for the first time at the White 
House on Monday. 


Mr. Christopher’s statements 
panda 3b 


on Rwanda illustrate how the 
Clinton administration has 
framed the issue of responsibil- 
ity for ending the crisis there in 
legal, not moral, terms. 


Asked whether the murder of 
up to a million people in Rwan- 
da constituted genocide, he 
said, “Yes, I think that actions 
in Rwanda do constitute geno- 
cide.” But he added that inter- 
national law does not require 
outside countries to take steps 
to stop it. 

“The international communi- 
ty as a whole has a general obli- 
gation to do what they can to 
avoid genocide, bnt it does not 
impose on the United States or 
any other country a specific ob- 
ligation to go into that country 


and to prevent the genocide, 
of force, or 


other by the use 
otherwise,” he said. 


As for the Middle East, Mr. 
Christopher said that he felt he 
had made enough progress on 
this trip to justify his return to 
the region in the beginning of 
August. 


know what 
he ever did with all the hubcaps 
we used to gytefa”). They come 
from a dazzling galaxy of liter- 
ary citations, from Ambrose 
Bierce to “Wayne’s World." 

“Blubberbutf ’ (a grossly fat 
person), “chiphead” (a comput- 
er enthusiast), “diddhbopper” 
(a young street hoodlum) and 


But he also acknowledged 
that “there are significant gaps” 
between Israel and Syria and 
that no one should expec, any 
“dramatic breakthrough in the 
near future." 


“doodly-squat” (the least bit) 
make the book, as do “doofus” 
(a fool), “fopdoodle” (a block- 
head) and “garbonzas” (“Boot- 
sie's not just another humon- 
gous set of garbonzas”). 


FAMOUS DIETERS By Matt Gaffney 


ACROSS 
1 Yacht spot 
7 Greenspan's 
domain 

13 Haifa hi 

19 Coordinates 

20 Olympic 
gymnastics 
powerhouse 

22 Mexican state 
south of Jalisco 

23 Get a grip on 

24 Dieting 
Supreme Court 
Justice 

26 Telly on the 
felly 

27 Aesir member 

28 Springfield 
familv, with 
-The" 

29 Radio choice 

31 Teach 

35 Damage, so co 
speak 

3 f> Add aroma to 

37 Hardly art 

39 River through 
Leeds 

43 Set the price 

45 Gaps to be 


60 On with 

61 Nationality 


suffix 


62 Amandine 
Dupin'* pen 
name 

63 Mother of 
Salome 


66 No good 
68 Dieting 

industrialist 

72 Sucker seeker 
75 Officially, 
Alcatraz had 
none 


76 Cubemeister 
Rubik 

80 Live 

81 1935 Cagney 
film 


84 MissWebbof 
“Our Town- 

85 Speaking role 
for Rocky Lane 

86 Fisher's gear 

87 Virgil hero 
90 Manuscript 

end. 


108 Some ryper 
Abbr. 

J10 Winter 

Olympics sight 

J13 Overwhelms 

117 Actress 
Swenson 

119 Cassette top 

120 Dieting 
Founding 
Father 

124 With 
114-Down, ship 
of song 

125 A hairline can 
do it 

126 “Happy 
Hooker’ 
Hollander 

127 One way to lie 

128 Ross and others 

129 Socialites 

130 Miss Universe. 
*■& 


48 Dieting comic 
51 Not too badly 
53 Physicist Georg 

55 April mailing 

56 Word with ad 


57 PeJesal figur 


58 Festival of 
deliverance 


91 Bigrig 

92 Dieting actor 
95 Marchnonoree. 

for short 
99 Pan of Italy 

100 Individual 

101 Recorded 
103 Greek god’s 

blood 

105 Wear out 


Solution to Puzzle of July 16-17 



DOWN 

1 McLartvand 
the Knife 

2 Dispense 

Carefully 

3 Dieting baseball 
phyer 

4 Bom 

5 Bit of romance 

6 Refuse 

7 Like taken 
paths 

8 Denzel “St. 
Elsewhere" 
co-star 

9 Touches up 

10 Cool off 

11 Word before 
and after “to" 

12 Do alternative 



© New Tori Tunes Edited by WiR Shorts. 


13 Terli 

14 Bas 


ketbalL 
slangiiy 

15 Selected athlete 


32 German 
pronoun 

33 "Doru 

Her Two 
Husbands’ 


16 Fancy wheels 

17 Dodona 


message 
18 Physics 
calculation 
21 Michaels and 
Martino 
25 Laps 
27 Scott Turow 
book 

30 Midwest 


meguampus: 


34 Knight time 

38 Govl program 
for the 
unemployed 

40 Unemployed 

41 Hike 

42 Lay (in) 

43 Sale condition 

44 Kind of water 

46 Quartets 

47 Tuesday type 

49 Heamhrob 
singer Randy 

50 Matriculate 

52 Former 


54 Touchy one 

58 Little Fr. 

59 Kind of meat 

63 Where Goti 
resides 

64 "Careless Love" 
novelist Alice 

65 Art photos 

67 New couples 

69 Indiana Senator 
Richard 

70 Got a new 
roomer 

71 Bygone notable 

72 Stan of a Victor 
Herbert title 

73 Revolted 

74 Revoher 

77 Dieting Prime 
Minister 


78 Nobodv,in 

ancient Rome 

79 Garfield's pal 

82 Benefited from 

83 Bright, 
colorwise 

88 Nay sayer 

89 Pants part 

93 Adds on 

94 Karlovy Vary is 
one 

96 City north of 
Livorno 

97 Cry of honor, 
in the comics 

98 1984 Paul 
McCartney 
song 

102 Ruling groups 


104 Algonquian 
language 

106 Set 

ID? ■- of God- 

109 Insomnia cause 

111 Kind of system 

112 Barbecued item 

115 Biting comment 

114 See 124- Across 

115 Branch 

216 Driver’s license 
mfo 

1 18 Relative of the 
midge 

121 Onetime Indian 
government 

122 — goi hi" 

123 Aflame 

124 Kid 


424 Moroccans Amnestied 

Reuters 

RABAT — A total of 424 
prisoners granted amnesty by 
King Hassan II have been 
freed, the Moroccan Human 
Rights Association said. 


The ctzltnral focus of slang in 
Britain, America, Australia and 
elsewhere, “has always inclined 
toward the ignoble,” Mr. 
Lighter says in the dictionary’s 
lengthy and intriguing intro- 
duction. 

“An opposing ptcture.of the 
real wood could as well be 
evoked by reflecting upon die 
rich Enghsh vocabulary of faith 
and philanthropy," be wrote. 
“However, such a rendering 
would be no more accnrate, 
though admittedly more reas- 
suring." 

Slang terms for sexual or- - 
gans, bodily functions and eth- 
nic deririon make up the largest 
categories in the dictionary, he ' 
says, reflecting a timeless irrev- 
erence characteristic of slang in 
general The F-word alone gets 
12 pages. 

Volume 2 of Mr. lighter’s 


nma, bow many volumes does 


he expect to sell? 

“WeB, so far ” he deadpan- 


Random House in 1996 
letters H through R, and Vol- 
ume 3 the following year filling 
out the alphabet At 550 a vol- 


ned, “I know erf 11/ 

The lengthy project by the 
University of Tennessee Eng- 
fish teacher was underwritten m 
part by three grants bom the 
National Endowment of the 
Humanities totaling nearly 
5400,000. 

The endowment ch a i rman , 
Sheldon Hackney, wondered 
whimsically this week “what 
this dictionary is supposed to 
do" for the federal government 
in return for the money. 

“Perhaps by capturing an 
these words and putting than in 
a cage we have somehow de- 
fanged them," heisauL 

But American slang, said Mr. 
lighter, “is like a wilderness 
where words jump bum behind 
a bush whenever they fed like 
it." 

He added: “It’s always bur- 
geoning and it can never be 
tamed. Tm just trying to make a 
decent map of the territory.” 


~ride. 

aroused only indifference and 
fears, and outright criticism in 
some cases, among its Weston 
affies and most Amcan govern- 
ments. . 

The dilemma that will follow 
• French forces* withdrawal from 
Rwandan territory is dean “As 
our troops pull back in stages," 
an official said, “the local popu- 
lations will panic and flee de- 
spite everything we’re doing to 
make cooler heads prevail” 

French officials have sought, 
to persuade the new govern-’ 
mentof Rwanda to do whatever 
neoessary to reassure the Hutu 
living under French protection. 

Otherwise, they point out. 
the government could have a 
semi-permanent country of 
Rwandan Hutu living just 
across the border in Zaire. 

Paris is determined to avoid 
being drawn into an unwieldy 
mix of military action and mul- 
tilateral diplomacy of the sort 
that had disastrous results for 
the United States in Somalia. 

Describing the French deri- 
sion-making process, an official 
said President Francois Mitter- 
rand ordered action shortly af- 
ter the fighting started. Stand- 
ing to greet an African visitor, 
Mr. Mitterrand. 76 and suffer- 


y_. 
V - . 


ing bran a painful cancer, was 
informed that Betai 


SOUTH; Bible Belt’s Road to Paradise Is Well Posted g 


Continued tan Page 1 

Commandments Not Ten Suggestions.” There 
are snippets of song or verse Hke “What a Friend 
We Have in Jesus.” Some are church sig ns to 
ponder, like “Is Jesus Your Hope or Your Ex- 
cuse?” Others could be country nnijp c songs like 
“You Can’t Walk Wito God tf Yon Run With the 
Devfl." 


Sometimes they have the stem, “Onward 
Christian Soldiers” sound of Pat Buchanan at 


the 1992 Republican Convention (“One on 
God’s Side Is a Majority") or an unyiel ding sense 

nf MnUu fUDnAM rM 1 Cl - 


of fundamentalist probity (“Partial Obedience is 
l- More often they strive for an 


Disobedience”). 


awestruck sense of roadside rapture (“Jesus 

Me and 


Asked the Impossible, Did the Ihcredib! 

Loved the Unlovable”) or are supposed to 
the wayward bade to the path (“Seven 
Without Prayer Makes One Weak"). 

There are Christmas signs (“From IBs First 
Manger Cry to His Last Cry on the Cross* He 
Loves Us Still”), Mother's Day signs (“An 
Ounce of Mother Is Worth a Pound of Preach- 
and riddle signs (“CH-CH — What’s Miss- 
*UR”). 

purvey folk wisdom rather than biblical 



South Carolina; “Some People’s Minds Are Like 
Concrete — Mixed Up ana Set One Way.” 

Church rign connoisseurs say there is an art to 
them. 

“You’re potting up something in- 15 words, or 
in a few words, and to say something in those few 
words is pretty difficult,” said Mr. Ward of 
Unity Missionary Baptist Church here. “Like 
General Eisenhower raid one time, Tf an order 
can be misunderstood, it will be rmsundexstood.’ 
So if a slogan can be taken more than one way, it 
will be." 

A good church sign (“A Christian Who Rests, 
Rusts’ 7 ) is -a. model of clarity and compression, 
but somefi — — 

confusing. 

spiritual si 

recently had to look twice to get the 
(“Your Choice Hoover Eureka Uprights) outtiSe 
tbe Macedonia Baptist Church m Pensacola. It 

was only the notation at the bottom — $49 

that made it dear the sign was not offering 
comfort for the soul, but instead was hawking 
vacuum cleaners at the strip shopping center 
non door. 


ormed that Belgian troops 
had withdrawn from the Rwan- 
dan capital’s airport, causing 
uncertainties about a possible 
airlift for French civilians. 

“Send two companies and 
seize the airport,” Mr. Mitter- 
rand replied. 

“And evacuate French na- 
tionals?" an aideaskecL 
“I said seine the airport; well 
see about the rest later on,” the 
resident said. That night 
'reach forces secured the air- 
port, only to leave a few 
utter when Belgium started 
European exodus. 


2 Missing Envoys 
Surface in Algeria 


Agence Fmna-Proxe 

ALGIERS ; — The ambassa- 
dors of Yemen and Oman in 
Algeria, who had been irmaang 
for a week and were reported to 

have been kidnapped, have 
been found ^afe and well," Al- 
gerian security officials said late 
Friday. 

Their Moroccan driver and a 
Yemeni guest of theirs who also 
had been missing were reported 


troth like the pithy One recently displayed at the Oh well, as Mrs. Yon’s sign has said, “God 
Greater Highway Church of Christ in Marion, doesn’t call the qualified, he qualifies the called.” 


to be safe as 
The men were last seen in the . 
fundamentalist stronghold of 
Kh&nis d Khechna, near Ak 
giera, on. July 15. Their burned; 
vehicle had been found in ih& 
area. 


BOSNIA: U.S. Disputes Russian View on Serbs’ Reply to Partition Plan 


CoBthned from Page 1 


by 


plan but refuse any further b 
“Tune is being bought far the 
the Contact Group,” a senior UN officii 
said. “But we can't let them prevaricate too 
long if the intention was to disperse West- 
ern polity once again. We shouldn’t let 
that happen. 1 ’ 

Mr. Perry was completing a weeklong 
> through southeastern Europe to assess 
'tiny options in Bosnia after the Serbi- 
an response. . .. . 

With fighting picking up, the Sar^evo 
airlift remained suspended Friday. Relief 
flights had been canceled Thursday after 


small arms fire ini three planes, including a 
U-S. C-141 transporter. 


out 

was 



The Associated Press reported. At 
one non aboard was wounded.] 

Kris Janowski, a Spokesman for the UN 
High Commissioner for Refugees, raid a 
decision would be made Sunday on whether 
to resume flights to Sax^evo on Monday. : 

There was an increase in artillery fire 
around. Zavidovid, a government-held, 
town in northeastern Bosnia. There was 
also heavy fighting in the northwest 
The five big powers had demanded a 


shnjrfe “yes" to a map for Bosnia’s parti-, 
bop along ethnic fas theoSyvraySak 

P™**** action, sucP 
tightening of an international embargo. - 

on Friday, a special session of ? '■> 
approved sta»eth«i«l s* and :: 
noisin' i 


air 


strengthened sea and 

-ails, for the first time 

that allows Ger- 
to join allies fighting overseas, 
proved 424 to 48 with 
of ^ government and the main 
*B1 give German sitas 
fr W to challenge 

^W«jamsttheSeSSniSS«eo i . ' 
Yugoslavia. (Reurer^AFP, AP). 












EVTEKJVATIQNAL HERALD TRIBUNE, SATURDAY-SUNDAY, JULY 23-24, 1994 


Page 5 


Reports Tie Italian Leader’s Firm to Bribes 


VaSay Khckv/lfec AMoaned Pro* 

Alexander Solzhenitsyn, with Us wife, Nutalia^sigmiigabookfor a fan Friday in Moscow after a two-month train trip. 

A Crusader’s Blustery Return to Moscow 


/-< 

’u- 


I'W* 


-- 1- 






By Michael Specter 

New York Timer Service 

MOSCOW — At long last, 
after 20 years of exile and a 
p two-month rail trip across the 
troubled land from which be 
was expelled, Alexander L Sol- 
zhenitsyn, Russia’s mournful 
sage, returned to his nation’s 
capital 

More than a thousand peo- 
ple, kept quietly at their dis- 
tance by dozens of armed riot 
police, waited in the rain at 
Yaroslavl station to greet the 
75-year-old writer who has sav- 
aged the current state of the 
country with almost as much 
intensity as he used when at- 
tacking communism. 

“Russia is in very serious 
trouble,” he said as the rain 
started to pour onto his audi- 
ence. “There are groans bellow- 
ing across -this co untry. ” 

Mr. Solzhenitsyn said he had 
taken the meandering ra3 trip 
— which started in Ma gadan, 
the center of the gulags be wrote 
about with such penetrating ef- 
fectiveness — to begin a cru- 
sade for the spiritual rebirth of 
Russia. 

There was little, however, to 
warm the spirit at the Yaroslavl 
station this week, as hundreds 
of feverish reporters and televi- 
sion camtfa crews jostled to get 
. 4 a picture of him. 

“Get back; badc,^ snapped 
the mayor of ' Moscow; Yuri 
Luzhkov, who had come to wel- 


come Mr. Solzhenitsyn borne. 
“If you don’t get out of the way, 
he will never come off that 
train.” 

When he did emerge from the 
private rail car in which he has 
lived with his wife and two erf 
his sons for the last two months, 
the writer spoke as he has 
throughout his journey, indig- 
nation building ax the often pa- 
thetic state of the country to 
which he has returned. 

T have met many wonderful 
people through this long jour- 
ney,” he shouted through the 
ram. “Students, farmers, fac- 
tory workers. People who live in 
slums, doctors and teachers 
who work without pay for their 
fdlow countrymen.” 

“I hope today I can start to 
bring their message to the ears 
of the leaders in Moscow,” he 
continued, his outrage starting 
to show. 

‘ '“These days our country is 
collapsing into itself. 1 never 
thought the exit from commu- 
nism would be painless, but no- 
body would have known it 
would be this painful,” Mr. Sol- 
zhenitsyn said. 

“The state again does not ful- 
fill hs. obligation to its people,” 
he said. “Our children are de- 
fenseless against (he scourge of 
corruption. Crime threatens to 
strangle our country. We can- 
not say we have democracy- 
bere. No democracy is like 

this.”---. 


Yeltsin Defies Duma 
On Privatization 






By Fred Hiatt 

Washington Post Service 

MOSCOW — President Bo- 
ris N. Yeltsin launched on Fri- 
day a new phase of Russia’s 
large-scale privatization pro- 
gram, defying Parliament, 
which had rejected the' same 
program a day earlier. 

The new program is intended 
to accelerate the seQ-dff of 
state-owned factories and at- 
tract more foreign investment 
as Russia continues its transi- 
tion to a free-maiket economy. 

Shares will now be sold for 
money, rather than for the pri- 
vatization vouchers that every 
citizen received during the first 
stage of the program. Factories 
will be allowed to keep marc of 
the proceeds to reinvest and 
modernize, instead of t u rn i n g 
most of the money over to the 
government. 

4 Mr. Yeltsin’s decision to pro- 
ceed by decree “testifies to his 
political will to pursue a strate - 
. gjc course of market reform,” 
the president's spokesman said. 

But it also testified to the 
weak position of Russia’s Par- 
liament and raised the possibili- 
ty of future confrontation be- 
tween the president and the 
State Duma, as the lower house 
of the legislature is known- 

The Duma first rqected the 
privatization plan July 13, with 

many pro-Communist legisla- 
tors particularly upset that land 


would now be privatized along 
with the buildings on it Legis- 
lators then began negotiating 
with Anatoli B. Chubais, a dep- 
uty prime minister and the pri- 
vatization chief, in search of an 
acceptable compromise. 

They came up with an 
amended verson of the plan 
that satisfied the speaker of the 
Duma, Jvan Rybkm. But after 
emotional debate Thursday, the 
plan still fdl 13 votes short of 
the required 225 needed to pass 
a bin. 

Mr. Chubais welcomed Mr. 
Yeltsin's decision to bypass the 
Duma. 

Stffl, be said that amend- 
ments suggested by the Duma 
as part of the failed compro- 
mise would be included in the 
president's program “as much 
as possible.” 

The first phase of privatiza- 
tion began in August 1992, 
when Mr. Yeltsin decreed that 
every Russian citizen would re- 
ceive a voucher with a nominal 
value of 10,000 rubles. Most of 
those 148 million vouchers have 
now been invested, either di- 
rectly into enterprises or into 
stock funds. According to the 
government, 40 mfllion Rus- 
sians - have become stockhold- 
ers, 1 million are proprietors 
and the private sector now ac- 
counts for more than half of 
Russia’s gross naripnalprodnct 


Britain Sets 15-Year Terms 
For Killers of 2-Year-01d 


Reuters 

> who killed 2-; 


y S atlSSym in custo& the British gwhment 

“jot \Sbles and Robert/ITwii^^ 

led toddler from a shopping”*** and beat and tortured. him 

to ^ were scntenoed to 

over police and prison 
in a statement that the two shouldserve at least 15 

that period expires the home secretary of the 
yg paio ie board as to the risk 
cannot release the boys 

X n “ CSM,rily " J ““ a " hef 

of the whether it was safe to release 

release at that 

pc," the statement said. 


ig a 

was fairly standard Solzheni- 
tsyn text 

Leading intellectuals here 
have been bard on the bearded, 
thunderously indignant writer. 
They consider bis. oratory hol- 
low, his tune past,' and his mis- 
sion undear. He said on his 
arrival, as he has repeatedly 
wnw he returned to Russia, that 


vend in his belief that the seem- 
ingly invincible Soviet state 
would crumble from the weight 
of its deceptions. 

As a result he is a man whom 
all factions wish to claim — at 
least in part — as theirs. Na- 
tionalists see in him the true 
believer for a greater Russia. 
Despite his denunciations of 
them, reformers see a man who 


he has no desire and no willing- can hdp the citizen understand 
ness to accept an overtly polio- the value of democracy. 


cal role. 

And despite the condescen- 
sion about his return and the 
doubt about bis possible effec- 
tiveness, few Russians possess 
the moral authority of the ab- 
stemious recluse who never wa- 


A spokesman for President 
Boris N. Yeltsin said that Mr. 
Yeltsin would soon meet with 
(he writer, although the date 
has not been seL And Parlia- 
ment has invited Mr. Solzheni- 
tsyn to address it. 


By John Tagliabue 

New York Tines Service 

ROME — Two Italian news- 
magazines are reporting that 
anti-corruption magistrates 
have produced witnesses impli- 
cating the big Fininvest corpo- 
ration of Prime Minister Sih-io 
Berlusconi in a recently uncov- 
ered net of widespread corrupt 
business practices. 

The witnesses, who are offi- 
cials of the auditing unit of the 
Italian Treasury known as the 
Finance Guard, have reported- 
ly confessed to magistrates in 
Milan the details of a wide- 
spread system under which 
guard auditors regularly pock- 
eied large amounts of illegal 
payments from private corpora- 
tions in exchange for turning a 
blind eye toward fraudulent 
bookkeeping practices and tax 
reporting methods. 

The magazines allege that on 
July 13, as evidence was emerg- 
ing that would have implicated 
several senior officials of Mr. 
Berlusconi's Fininvest business 
e m pir e , the prime iwinisrgr act- 
ed to pass a decree that would 
have in effect bound the hands 
of the investigating magistrates. 

The reports, which will be 
published by the weekly news- 
magazines Panorama and 
Espresso in their coming issues, 
were released Friday ahead of 
publication. 

According to the reports, one 
of the suspects named by nu- 
merous witnesses is Salvatore 
Sdascia, the director of central 
financing at Fininvest. The wit- 
nesses allege that on numerous 
occasions he paid large sums of 
money for favorable auditing of 
Fininvest companies. 

In its report. Espresso said 
that on the day Mr. Berlusconi’s 
cabinet was approving the de- 
cree. a lawyer for Mr. Sdascia, 
Oreste Dommioni, sought un- 
successfully to arrange for Mr. 
Sdascia to meet voluntarily 
with Antonio Di Pietro, the top 


anti-corruption magistrate. Mr. 
Dominion: did not return calls 
to his Milan office. 

The decree unleashed a storm 
of protest, and marked Mr. Ber- 
lusconi's first crisis since taking 
office in May. On Monday, in a 
humiliating retreat, he said the 
edict would be scrapped. 

Meeting Friday, the cabinet 
approved a draft bill for parlia- 
mentary approval to replace the 
decree.' It would allow corrup- 
tion suspects to be held in cus- 
tody before trial The cabinet 
spokesman, Giuliano Ferrara, 
said the bill contained changes 
“that take account of public 
opinion-" 

Antonio Tajani, the prime 
minister’s spokesman, denied 
that passage of the earlier de- 
cree had been in any way linked 
to the investigation of Fininvest 
officials. 

According to the magazine 
reports, one of the key witness- 
es, Francesco Nanocchio, a 
guard auditor, was arrested last 
April on suspicion he pocketed 
a $1,600 share of bribes paid by 
Mr. Sdascia after a favorable 
audit of EdUnord, a real estate 
group controlled by Mr. Berlus- 
coni's younger brother, Paolo. 
Paolo Berlusconi is scheduled 
to stand trial on other corrup- 
tion charges later this year. 

In subsequent questioning, 
Mr. Nanocchio reportedly told 
investigators he had received a 
SI 5 , 000 share of illegal pay- 
ments to auditors paid by Mb'. 
Sciasda in connection with an 
examination of the books of the 
Telepiu pay-television channeL 
The channel which is partly 
owned by Fininvest, has been 
under investigation because of 
an ownership dispute. 

In further testimony. Mr. 
Nanocchio also implicated a 
former guard official, Alfredo 
Carugno, who is now employed 
by Mr. Sdascia at Fininvest 

One guard official Giuseppe 
Lichen, who audited Video- 
time, another Fininvest compa- 


To protest the decree, Mr. Di 
Pietro and his team asked for 
reassigment to other cases. 

The Finance Guard revela- 
tions came as a bitter blow to 
the investigating team. The 
magistrates have leaned heavily 
on the financial expertise of 
guard auditors in their two- 
and-a- half-year corruption in- 
vestigations, which have impli- 
cated thousands of 
businessmen and politicians. In 


ny, reported pocketing $62,000 
in two installments from Mr. 

Sdascia. Another official Mar- 
co Spazzoli, described bribes 
paid in connection with audits 
of the Mediolanum insurance 
group, in which Fininvest bolds 
a share, the reports said. 

Fininvest is fully owned by 
Mr. Berlusconi who surren- 
dered day-to-day management 
to a team of executives when he 
entered politics earlier this year. 

The now-revoked cabinet de- 
cree sharply limited the kinds of his threat last week to step 
suspects who could be jailed down if the decree wore not 
while a criminal investigation revoked. Mr. Di Pietro de- 
continues. It eliminated corrup- non need unnamed suspects 
dan, graft and other white-col- who he said were “buying the 
lar crimes like fraud, from the people to whom we have en- 
preventive detention category, trusted our investigations.” 


3 German Youths Jailed 
In s Hunt for Foreigners 5 

The Assocuued Press 

BERLIN — Three young rightists were sentenced Friday to up 
to three- and-a-half years in prison for their role in a “hum for 
foreigners” in Magdeburg. 

Hie juvenile court in Magdeburg imposed sentences longer 
ihan prosecutors had requested in an attempt to deter a repeat of 
(he riot during May in which about 60 rightists, many wielding 
knives, chased foreigners through the city center. 

The police were criticized for takin g six hours to quell the 
Magdeburg riots. The trouble was sparked in the middle of the 
day when Turkish immigrants and other foreigners rushed to the 
defense of a group of African refugees being chased down a main 
street by rightists. 

Judge Evelyn Majstrak sentenced one of the riot leaders, Steve 
Abichl 20, to three-and-a-half years in prison, a year longer than 
the prosecution bad requested. He had a record of violence. The 
court gave a three-year sentence to Stefan Werner, 19. and 30 
months to Marco Dlugas, 20. 

The trial was the first for a series of young rightists accused in 
the attack. 

Meanwhile, in Koblenz, prosecutors announced charges against 
18 rightists accused of supporting the uliranationalist German 
Alternative; a group declared illegal in 1992. 

The authorities say bans of such groups and heightened police 
action have helped reduce the number of violent attacks on 
foreigners, refugees and others. Attacks rose steeply after German 
reunification in 1990. 


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SnbuW. Start Easing the RiehrPoor Divide Now 

THE WASHINGTON POST 


CIA, Still Unaccountable 


; R. James Woolsqr, the director of Cen- 
tral Intelligence, acknowledges some wel- 
come truths about his agency, but still 
manages to date around the root cause 
of many of its problems. The CIA badly 
needs reforms, as Mr. Woolsey says. The 
laudable patriotism of many career offi- 
cers is too often mingled with elitism, 
arrogance and the protective camaraderie 
of a college fraternity. 

And yes, this old-boy system helps 
explain the agency’s failure over a nine- 
year period to expose Aldrich Ames, the 
trusted initiate who betrayed secrets and 
lives for S2 million from Moscow. In a 
speech, Mr. Woolsey has vowed to “strip 
bare and to evaluate” the operations di- 
rectorate that permitted this scandal 

But afos, the director seemingly cannot 
bring hims elf to deal as frankly with the 
culture of secrecy that deprives his agen- 
cy of that essential safeguard: account- 
ability. The CIA budget, incredibly, is 
still legally secret So is its testimony to 
Congress’s Select Committee on Intelli- 
gence. That committee’s chairman. Rep- 
resentative Dan Glickman, Democrat of 
Kansas, has belatedly teamed up with 
Representative Robert Torricelli Demo- 
crat of New Jersey, to propose formal 


sentative Henry Hyde, Republican of Illi- 
nois. who adds that there is no need to 
publicize a figure already available to six 
congressional committees. 

Mr. Hyde's formulation is offensive 
because it implies that Congress is better 
able than the voters to handle informa- 
tion about their government. Experience 
has shown the opposite. It has also shown 
that trusting the old-boy network on 
Capitol Hill to monitor the old-boy oper- 
ation at Langley would be folly. 

in any event, there is no real case to be 
made for a secrecy that does not exist 
The information is all over Capitol Hill 
It cannot be kept from a determined foe 
or, for that matter, from anyone in gos- 
siping range of a member of Congress. In 
fact through carelessness, one of those 
ax committees inadvertently disclosed 
the total ($28 billion), as reported in The 
New York Times on Thursday. Moreover, 
former CIA Director Robert Gates testi- 
fied in 1991 that he had “no problem" 
with disclosing the total budget figure. 

Congress approved resolutions in 
1991 and 1992 urging disclosure. Sc why 
does President Bill Clinton favor shut- 


disclosure of the aggregate budget of the 
CIA and all other intelligence activities. 


CIA and all other intelligence activities. 
But even this modest, long-overdue 
amendment was rejected by the House 
on Tuesday, by a 221-194 vote. 

Defenders of secrecy solemnly argue 
that Americans cannot be trusted with 
this figure because they might make igno- 
rant and invidious distinctions between 
various services or different modes of 


Besides, the Cold War isn’t over, the 
bear is only sleeping, according to Repre- 


does President BUI Clinton favor shut- 
ters? A plausible explanation is that his 
a dmini stration, like those before it, 
fears the curiosity of the taxpayers. 
Once the numbers are publicized, the 
American people may want to know 
more about the spy agency's inability to 
redefine a new role, its past exaggera- 
tion of Co mmunist strength, its failure 
to promote qualified women, or its du- 
plication of intelligence work by the 
other agencies in the “black budget” 

A little knowledge, as Congressman 
Hyde somehow failed to observe, is truly 
a dangerous thing. 

— THE NEW YORK TIMES. 


No 'Religious’ Monolith 


So much said about politics involves 
generalizations that quickly pass into ste- 
reotypes. One of these involves “evangeli- 
cal Christians,” also known as “fundamen- 
talists” or “the religious right” AH these 
groups exist but they are not interchange- 
able. “Evangelicals” are not the same as 
“f undamentalis ts,'* and many evangelicals 
and f nndamenlaKs ts do not regar d tfaem- 
selves as part of the “religious right" 

This point was driven home recently by 
a survey involving the Virginia Senate 
race, conducted by Mason-Dixon Politi- 
cal/Media Research. The poll pointed out 
that those who talk about the political 
conservatism of evangelical or “bom 
again” Christians are actually tailring 
about the conservatism of white evangeli- 
cal Christians. African-Americans are 
even more likely than whites to describe 
themselves as evangelical or “bom again.” 
but this does not mean that they are sup- 
porters of the conservative Christian right. 
The poll found that while 53 percent of 
Virginia's black voters called themselves 
evangelical or “bom again” Christians — 
words which, of course, can mean very 
different things to different people — 
only 3 percent said they supported the 
Christian Coalition, Pat Robertson’s well- 
organized conservative group. 

Even more shocking to the convention- 
al wisdom were the poll’s findings about 


the political views of white evangelicals, 
particularly as regards the Senate race. 
White evangelicals are commonly de- 
scribed as the backbone of Oliver North's 
coalition, but their attitudes are far from 
monolithic. According to the Mason- 
Dixon survey. Mr. North was the favored 
candidate of 37 percent of the white 
evangelicals. Senator Chuck Robb of 27 
percent, former state Attorney General 
Marshall Coleman of 22 percent and for- 
mer Governor Doug Wilder of 3 percent. 
Among while evangelicals- in other words, 
Mr. North is drawing less support than 
Barry Goldwater or George McGovern 
got in their campaigns for president. 

There are two useful lessons. Those out- 
side the world of evangelical or fundamen- 
talist Christians need to exercise discern- 
ment. Just as it is wrong to make gross 
generalizations about “blacks” or “Jews” 
or “Muslims” or “Asians,” so is it wrong to 
offer sweating remarks about “evangeli- 
cals” or “t>om a gain* ” Similarly, those 
who claim to speak politically for “evan- 
gelicals” or “Christians” ought to exercise 
restraint. Mr. Robertson, for example, 
does speak for some people, but he does 
not represent a whole rehgjous communi- 
ty. Many in that community object to 
having others automatically translate their 
religious views into political commitments. 

— THE WASHINGTON POST. 


What Do These Folks Eat? 


In the beginning, the Center for Sci- 
ence in the Public Interest lamented, and 
documented, the sins of fast food. (High 
fat, high sodium, high cholesterol.) Then 
the nonprofit research group moved on to 
analyze Italian food (Mgb rat, high sodi- 
um, high cholesterol) and Chinese food 
(ditto, with the piquant detail that a plate 
of kung pao chicken has as much fat as 
six cheeseburgers). It detoured briefly off 
ethnic restaurants to deliver the verdict 


on movie popcorn (bad, bad, bad, espe- 
cially for the bean) but returned trium- 
phantly the other day to its original 
theme with a study on Mexican restau- 
rants. The results, as headlined in its 
news release: “New Study Says Mexican 
Restaurant Food ’Makes Chinese and 
Italian Look Good.’ ” 

What, a hungry and self-indulgent na- 
tion may ask, do these folks at CSPI eat? 

Michael Jacobson, the center’s execu- 
tive director, says there has been a strong 
dement of kill-the- messenger in the re- 
sponse to his group’s methodical efforts 
to give people nutritional information 
about those foods that do not come with 
the government’s handy new nutrient la- 
bels. “People don't want to hear bad 
things about things they like, whether it's 
their daughter or their food,” he says. 
“They don't want their pleasant experi- 
ence intruded on by some inconvenient 
fact.” Unlabeled food, of course, is main- 
ly restaurant food, and restaurant food 
tends to mean food that people eat when 
they are out having a good time. 


“We’re not saying never go to this type 
of restaurant,” Mr. Jacobson says, pa- 
tiently. “We want people to have infor- 
mation.” True, the Mexican food study 
went so far as to note that it is almost 
impossible to eat healthfully off a Mexi- 
can menu, since nearly everything except 
the chicken fajitas and salsa contains 
more sodium than the government re- 
commends you have in a day. A beef 
chimichanga dinner, the leading offend- 
er, contains 20 teaspoons of Fat. How 
might this fit into a healthful diet? It 
wouldn't, Mr. Jacobson concedes: “I’ve 
never had a beef chimichanga in my life, 
and I probably never wtO.” He does not 
eat premium ice cream, and he think s he 
may have ordered kung pao chicken twice 
in the past five years, to share — although 
in the wake of the kung pao chicken study 
he will probably order it “less.” 

Mr. Jacobson says the group would con- 
sider these reports a success if restaurants 
followed the lead Of fast food outlets in 
inching toward a healthier selection of 
offerings. Market farces make this likely. 
Movie theaters, for example, are already 
backing off the dreaded coconut ofl. 

At tne risk of displaying the depth of 
our denial though, we hope that scien- 
tists and chefs are taking into account the 
possibility that people know that these 
terrible, wonderful ethnically diverse 
manifestations of the national cuisine are 
bad for them and that they eat the stuff 
because they like it. 

— THE WASHINGTON POST. 



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N EW HAVEN, Connecticut — Five 
years after the B erlin Wall fell and the 


IN years after the B erlin Wall fell and the 
Cold War ended, a more intractable cleav- 
age T flaslrad by that conflict has become 
ap p a r ent: the demographic divide. Thomas 
Malthus, the overpopulation prophet rath- 
er th^n Adam Smith, the champion of free 
markets, has become the relevant thinker 
for the times ahead. 

The 5 J billion inhabitants of this globe 
are adding 95 milli on more people every 
year. We add almost a billion people each 
decade. The World Health Organization 
and the UN Population Fund estimate that 
by the year 2025 nearly 9 billion people will 
live on Earth, and between 10 and 14 bQHon 
by 2050. The implications of tins base trend 
for consumption, production, markets, edu- 
cation, services, the environment, invest- 
ment, and war and peace are fundamental 

Hus increase in population is not occur- 
ring evenly across the planet. Ninety-five 
percent of the forecasted doubling of world 
population will take place in the poorer 
reaches of the globe — in India, China, 
Central America and Africa. In most tidier 
societies, the populations are either slow- 
growing or even (as in Italy, France and 


By Paul Kennedy 


cent of Sweden’s population is over 65). 
Demographic growth is dramatically lopsid- 
ed. At the same time, the planet’s capital, 
sdentists, universities and research and de- 
velopment are located in the danographi- 
cally slow-growing or stagnant societies. 

The impulses, ideas, cultural images, 
technology and funds that shape the socio- 
economic life of all humanity in these times 
emanate to the young and crowded world 
from Silicon Valley, Atlanta, Hollywood, 
London, Zurich and Tokyo. By contrast, 
capital, infrastructure, research and devel- 
opment, universities and health care sys- 
tems are di sinte grating, and natural re- 
sources are being depleted most rapidly, in 
those countries where populations axe grow- 


then iiwffl be done for usty nature, .and it 
will be done brutally and without pity-- 
But to meet that challenge we wffl need to 
employ all our ingenuity and. talents. It is 
simply not tiie case that it is too hqpetes to 
try^^i^fOTCMiiq^weredOTipyed the 

tens of ♦homtatidu of scientists and Clteui^US 

now released from the Cold War challenge to 
look for solutions to the demographic divide? 
Snlirtinn? mnlri range from tmtydramatiC 

breakthroughs in solar energy systems to low- 
level, sustainable village-based technologies 
that already show promise in many devdep- 
ing countries. What if the rich countries a***- 


By Anthony Lewis 

^EWYORK-TlwSatecJ 
IN Bosnia would not take "yes 


AH tins i m plie s a change in priorities, but 


that is only likely if we possess political 
leaders with global vision and a wflhngness 


The anarchic collapses of Rwanda and 
Somalia offer, perhaps, a premonition of 
what is to come in places where the popula- 
tion. is far larger and the infrastructure far 


worse than at the turn of the 20th century. 
In sain, there is today a vast demograph- 


Japan) in absolute decline. 

Some parts of the globe are becoming 
increasingly adolescent (60 percent of Ke- 
nya's population is under 15) while others 
are becoming increasingly geriatric (20 per- 


Paul Kennedy, historian and author of 
u The Rise and Fad of Great Powers** and 
"Preparing for the 21st Century,** is co-direc- 
tor of an Independent Working Group on the 
Future of the United Nations. Appointed by 
UN Secretary-General Burns Butros Ghali, 
the group is chaired by former German Presi- 
dent Richard von Weizsdcker and former Pa- 
kistani Prime Minister Moreen QuereshL 


In sain, there is today a vast demograph- 
ic-technological fault line. On one side are 
the fast-growing, adolescent, undercapital- 
ized, undereducated societies; on the other 
the rich, technologically inventive yet demo- 
graphicaJly aging populations. 

Perhaps the most glaring cleavage ties 
along the Mediterranean, between Southern 
Europe and North Africa. But there are othr 


between the Slavic and non-Slavicpeople of 
Asia, between Australia and Indonesia. 

The greatest challenge that global society 
faces is preventing this fault tine from erupt- 
ing into a world-shaking crisis. I agree with 
the Nobel scientist Henry Kendall, who 


argues that “if we do not stabilize popula- 
tion with justice, with humanity and mercy. 


leaders with global vision and a wiUingness 
to articulate huger, universal principles. 

For now, leaders in democratic societies 
focus primarily on t he most immediate con- 
cerns of jobs and cr awling out of a recession 
that negativdy affects : their political for- 
tunes. And even if they come to comprcr 
bend the nature of the long-term challenge 
- — which will hit front pages and television 
screens in September when the United Na- 
tions convenes in Cairo its most important 
global meeting on population in 20 years — 
they will not be able to effect a change of 
priorities unless supported by a concerned 
and inteHigeat citizenry. 

That is why, in the end, change wfll come 
only if die average person recognizes, as 
most now do with respect to environmental 
issues, that only a jjjobal transnational re- 
sponse to the growing demographic divide . 
from rich and poor societies alike will give 
the planet a chance to survive. Otherwise: 
the coming deluge of people is certain tc 
swamp all other concerns in the 21st centu- 
ry. Then, hope will be hard to come by.. 

Los Angeles Tbma Syndicate. 


for an answer. A peace proposal 
offered to let them keep most of 
the fruits of their aggression and 
genocide, indeed to legitimize 
£ose conquests. But for people 
inflamed by tbcdrug^fhyper- 
fltfl ftfmaiicm. that was not enough. 

Russia wifl now try to persuade 
than to change their- mmd. Fad- 
ing that, and hope is slim, the 
conflict will enter a dangerous 
new phase: It will see America 
more deeply involved. ■ 

From the beginning of the Ser- 
bian aggression, in Croatia in 
1991, U-S. adminis trations kept 
their distance. George Bush left h 
to the feckless Europeans. Bill 
rimron spoke of a c tin g against 
the Serbs, made a feint in that 
direction, then stepped back. 

Last February, Mr. Clinton 
moved toward real involvement. 
He joined Russia, Britan, France 
and Germany in trying to draft a 
peace plan. The result was the 
proposal to jjve the Bosxuair 
MnsKmx and Croats 51 percent at 

the territory, the Serbs 49 percent. 

“We’re not saying that this is a. 
just peace or tfiai it meets the ; 
principle of stopping aggression,” 
a semor Clinton administration 
official has told me. “But it does 
mitigate the. damage. And it pre- 
serves Bosnia as a single state.” 

- A just outcome would mean 
reffine hack Serbian ooncmests en- 


The Case for Reving an Old Inter-Malay Formula 


tirdy, and letting Muslims and 
Croats return to areas from winch 
they were expelled. Thai would 
require fame on the scale of the 


H ONG KONG — The alpha- 
bet soup of initials of actual 


1 X bet soup of initials of actual 
or proto organizations involving 
all or parts of East Asia and the 
Pacific is confuting enough al- 
ready. In addition to ASEAN, 
AFTA, APEC and EAEC there is 
a dutch of “growth triangles” 
with their own acronyms encom- 
passing combinations of Jobore, 
Riau, Medan. Penang, Singapore, 
Phuket, Manado, Davao, etc. 

So as foreign ministers of the 
Association of South East Asian 
Nations met tins week in Bang- 
kok for their annual discussion of 
regional issues with themselves 
and, later, their ever expanding 
group of “dialogue partners” in 
the Asian Regional Forum, it is 
worth easting (he minti back a 
generation to the granddaddy of 
regional concepts, Maphitindo. 

That early ’60s vision aimed at 
reconciling conflicts between and 
within Malaysia, Indonesia and 
the Philippines, under a pan-Ma- 
lay umbrella that never became 
more than a gleam in the eye, 
although there were strands of it in 
the formation of ASEAN in 1967. 

But it is looking relevant again 
in the context of the power bal- 
ance in the region, and there are 
even ti g ns of commercial alli- 
ances being formed to reflect it. 

Four of ASEAN’s six states are 
predominantly ethnic Malay, and 
its peoples are mostly the inhabit- 
ants of the archipelago that 
stretches in a great arc from 
northern Sumatra to northern 
Luzon. Yet its preoccupations 
have been largely with the affairs 
of mainland Southeast Asia, and 
its bonds have been primarily pro- 
tided by the com m ercial anti fam- 
ily links of ethnic Chinese commu- 
nities, and the legacies of Western 
and Japanese imperialism. 

Past mainland dominance of 
ASEAN issues is no surprise. The 
association formed as an anti- 


By Philip Bo wring 


Communist league and later was 
primarily concerned with Viet- 
nam arid Cambodia. High on the 
current list of ASEAN issues is 
m gftgwnwnt with Burma. 

This is convenient. Thailand 
and Singapore have strong com- 
inertial interests in the develop- 
ment of links there. Malaysia and 
Indonesia are happy to see Burma 
as a useful issue on which to dis- 
pute US. and European attempts 

to malfg human ri ghts an 
for interference in others’ affairs. 

Burma, like Vietnam, Cambo- 
dia and Laos, is a candidate for 


If the future of ASEAN mem- 
bers is to be in trade groupings, it 
wffl surely be in much bigger ones 


involvingat least one major trade 
power. That means either the 


The three phi* Brunei 
hare dearer identity of 
interests with each other 
than with Thailand, 


future enlargement of ASEAN. A 
positive attitude toward Burma 
fits with Chinese strategic objec- 
tives and Thailand’s aim of devel- 
oping northward trade. 

But how relevant is all this to 
the nations of the peninsula and 
archipelago? It helps present an 
image of unity and utility within 
ASEAN, but what does that do 
for the security and trade con- 
cerns of the majority? 

The goal of an ASEAN free 
trade area (AFTA) within 15 years 
is making snail’s pace progress. It 
is taken seriously by very few man- 
ufacturers when planning invest- 
ments. Ministerial statements give 
illusions of progress, but on the 
ground it is irrelevant. Regional 
trade is growing fast, but for rea- 
sons which have nothing to do 
with AFTA. An ASEAN enlarged 
for political reasons would make 
AFTA even more urekvant 


power. That means either the 
Asia-Pacific Economic Coopera- 
tion forum, involving the United 
States and Japan, or the narrower 
East Asian Economic Caucus, ex- 
cluding the United States: 

Meanwhile on the political 
front, the biggest future issue by a 
very long way fating die Malay 
members of ASEAN is the South 
China Sea, a matter of marginal 
concern to Thailand and Burma 
and not one on which they would 
care to risk their relations with 
China. Malaysia, the PbaUppiaes 
and Brand all face direct Qim ese 
threats to adjacent waters and un- 
dersea resources as well as to the 
Spratly Islands, where their danns 
overiap those of the Vietnamese. 

Although Indonesia is not di- 
rectly involved in die Sooth Chi- 
na Sea, it has every reason to keep 
China as far away as possible, 
including from its gas fields, 
which lie dose to the farthest tint- ■ 
h of China’s claims. 

This is not a minor matter. Chi- 
na’s “historic” claims treat the 
Malay peoples as if they never 
existed, but history (other than in 
China’s racist verson) dearly re- 
cords that Malays were sailing 
these waters long before Chinese. 
Trade between: Cbma and Souths 
east Asia was in die hands .of Ma- 
lays and Indians before Chinese 
gained sufficient seafaring ability 
U) reach the Malacca Strait. . 

The four Malay nations also 
have a strong domestic reason for 
closer cooperation. Although sep- 
a ratism is only a minor at 

present, the mHppines’ troubles 
m Mindanao and Sain, Indone- 


existence wffl be kept under con- 
trol only by mntnal cooperation. : 

They may need tocare far more 
about things than what is 
h ap pe nin g in die Sian , states or 
on the lhairCairibodian border. 


sia’s in Atjeh and Timor, Malay- 
sia’s in Sabah, and Brunei’s very 


Trivializing the Clinton Presidency 


There have been hints of old 
problems resurfacing, with an out- 
. break of min or rows such as be- 
tween the 'Ptimppinu and lodode- 
sia over a conference on Timor. 
Present leaders are d etermi ned 
enough to keep a fid on them. 
President Fidel Ramos has tried 
especially bard to prove a flood 
neighbor. But greater 
may need to be pobfidy placed in 
future on how much these nations 
have in oommon and how impor- 
tant each ootfs stability add terri- 
torial integrity is. to die Others. A 
Maphitindo fonnn nngfrt hdp. ; s 
“ On a positive note, awss-ba£-. _ 
der uTKanres have been forming. 5 
Barito Pacific, Indonesia’s big- 
gest timber group, has put assets 
into a Maliiysian company arid 
has plans for joint developments 
in Kalimantan. Malaysian plan- 
tation companies axe Ibtiting at 
bi g in vestments in I ndc m e szaj and ; 
Kuala Lumpur stockbrokers axe 
setting up shop in Jakarta. . 

Tire trend appears to-have the 
blessing of mdigeaous ehtes. That . 
does not apply yet to the Philip- 
pines — ■ although there are Ma- 
nflarBnmti finks. Aialgwerlevd,;.: 
interconnections include a' huge ^ 
number of Indonesian workers in - 
western Malaysia and Fttipmas in 
Sabah. Filipino drilled wotkExsare 
filling labor market gaps in Jakarj 
ta, .and local cross-tieas tra de , for' 
example between Dtivap in die 
southern fhHippines and Manado 
m northern Sulawesi, is reviving. . 

There are still plenty of rival- 
ries and suspicions between huge, 
poor but firmly secular Indonesia 
and small, rich Malaysia, widt hs 
large non-Malay population but 
stronger Islamic identity. The 
Philippines, with its domestic 

pranaatp afions and C atholic and 
A me ri c a n lin k a g e s, has a hand 
tune identifying with Us neigh- 
bors, however dose their tan- 


rial said, which is not in the cards. 

Some degree of additional inter- 
national force is likdy now in any 
• event. A series of escalating mea- 
sures is planned to persuade die 
Serin to accqrt the peace map. 

11k dan extends safe areas 
around Sarajevo. and Gorazde to 
other, government-held islands in 
. eastern Bosnia. It calls for stricter 
: enforcement, which means readier 
use of air power. NATO may also 
. aet to cat the supply route from 
Serbia, across the Drina River. 
Pressure will jrow to lift the *irm 
embargo ^on Bosnia. 

• The Bosnian Seths would no 
dotdiLretaBate^ making life even 
more difficult for the United Na- 
" tiori protection force: The UN 
forcemay hare, to be redeployed. ‘ 

.The Bcsniairaaiiy would tiyto 
regain tcroteffy. “Our assessment 
- is that if the peace effort faHs this 
Jne aiound/’ .the administration 
~ official said, “the war will inevi- 
;; fafit^escalate.” -v 

Some oppose the whole idea of 
the peace juan.as unworkable and 
morally unacceptable in its con- 
... oessiens.tdSecbs, David Gompert, 


W ASHINGTON —Did you 
hear the one about Bill 


Clinton and the Pope? Mr. din 
ton offers to take the Pope fish 


By Edwin M. Yoder Jr. 


ton offers to take the Pope fish- 
ing. A breeze comes up and 
blows the Pope’s hat away from 
the boat “Don’t worry,” says 
Mr. Clinton, “Til get it" He 
steps out of the boat and walks 
across the lake to retrieve the 
haL The next day’s headlines 
say: Clinton Can’t Swim. 

The joke shows that Mr. Clin- 
ton’s daily drubbing by the 


press is working its way into 
folk humor — a danger for him. 


it may be, but a greater danger 
to the press and the country. 

Rarely has the capriciousness 
erf the coverage been more strik- 
ingly evident than when Presi- 
dent Clinton addressed the Na- 
tional Governors’ Association 
in Boston about health care re- 
form. In answer to a question 
(How universal is “universal”?), 
he gave one of those pohey- 
wonk answers to which he is 
occasionally prone: He distin- 
guished between goals (100 per- 
cent} and statistical reality: 
“We know we’re not going to 
get right at 100 percent but we 
know that you've gpt to get 
somewhere in the ballpark of 95 
percent or upwards.” 

He illustrated the point by cit- 
ing compulsory school atten- 
dance laws that mandate school- 
ing up to a cer tain age although, 
as be said, a small percentage of 
school -age children for one rea- 
son or another fall through the 
cracks. Which is not an aigu- 
ment against univeisaliiy, merely 
a gloss on the meaning of a term. 

This gloss, however, was in- 


stantly and mindlessly trans- 
formed by gotcha journalism 
into a “Clinton Can’t Swim” 
story. Naturally, Bob Dole and 
other Republicans^ were quid: to 
exploit the confusion. The spin 
generated three-alarm headlines 
whose point was that Mr. Clin- 
ton was once again contradict- 
ing hims elf or retreating from 
thegoal of universality. 

The treatment the same day 
an ABCs evening news was typi- 
cal ABC devoted its entire seg- 
ment on Mr. CKnton’s appear- 
ance before the governors to the 
stoiy that he might hare wob- 
bled, ignoring the exceptional 
clarity and cogency of ms de- 
fense of his health care package. 

Even if he intended a calculat- 
ed wobble, signaling a willing- 
ness to compromise, the story 
was a gross distortion. ABC 
chums that “more Americans get 
their news from ABC than from 
any other source.” If that is true, 
we’re in deep trouble. 

What might the stoiy look like 
with Mr. Clinton’s substantive 
points taken more seriously? 

His plan is premised an the 
assumption that there are two 
ways to achieve universal cover- 
age (however defined), winch 80 
percent of the American people 
teE pollsters they favor. One is a 
Canadian-styie single-payer sys- 
temic which a government agen- 
cy, asm Medicare, is the insurer 
and funds the system with tax- 
ation. The other option, chosen 
by Mr. Clinton, is to preserve 
private insurance and require 


employers — the usual suppBexs 
of health insurance since Worid 
Warn— to offer coverage. Here 
is a basic choice and thoe is no 
way to weasel around it 
Moreover, at one-screnlb of 
GNP, American health care is 
the costfiest on the planet but 
leaves 30 to 40 milhon people 
uninsured at arty given time; mad 
millions of others fearful of be- 
ing dropped for one reason or 
another. Meanwhile, medical en- 
titlements (Medicare, especially) 
are growing so fast in p roport i on 
to the rest of the budget that 
health care costs, on the present 
trend, will devour all ebe: - 
Again, choices are dear. You 
can raise taxes, or continue to 
borrow. Or you can try, as Mr. 
Clinton proposes, to contain ris- 
ing costs in the public sector by a 
so-called “global budget” (an an- 
nual ceding) and in the private 
sector by setting up “purchasing 
cooperatives” to mass consumcr 
power and stimulate more com- 
petition in insurance pricing, 
Basic choices are being ob- 
scured by a massive lobbying 
campaign by the insurance in- 
dustry, organiz ed medicine, the 
elder lobby and other seif-inter- 
ested parties, muddling the is- 
sues with sloganeering about 
“govanment control,” “social- 
ism" and “rationing.” 

Meanwhile, the tiresome ritu- 
als of gotcha journalism are re- 
inforcing. not dispelling, the slo- 
ganeering and con/nskm. The 
fate of Mr. CUn ton’s compelling 
remarks to the gpvemofsw Bos- 
ton is a prime example — anoth- 
er “Clinton Can’t Swim” stoiy. 
Washington Post Writers Group. 


The three pins Brunei have 
more obvious lang-tenn identity 
of interests with each other than 
with Thadand, let alone with a 
much enlarged ASEAN. That is 
irot to suggest ^impending. new 
animosities, or to dt^xtte fheval- 
ue of the growth of bilateral trade 
between Malaysia and ThaHand. 
But if EAEC may make sense in a. 
tripolar trade worid, soaMa- 
phnindo (maybe with a Japanese 
alliance) may make more strate- 
gy sense than ASEAN in a mnl- 
tipolar Asia without the United 

States as its guardian angel 

International Herald Tribune. 


poses m the current issue of For- 
eign Affahs that instead the pow- 
_ era “conduct a cold war against 
Serbia” until its. virus of “fiendish 
nationafism” is eradicated. 

As in tiie Cold War with the 
Soviet Union, Mr. Gompert ar- 
gues, itwould bring about political 
change. Isolation, and facts peue- - 
tinting propaganda, would laid 
tbeSaraan people to turn against 
■ the leader who started the aggres- 
sion,^ Slobodan MUbsevic: 

Tire . administra tion official I 
spoke with rejected Mr. Gomperf s 
analogy to the Cold War. Here, he 
said, a real war is going on — and 
it wfll continue for nany years, 
perhaps decades, if the intema- 
tigaalorumminity does not bring it 
to ah end. Britain and France 
would withdraw from the present 
UN force: “The suffering would 
beprolongsd far a generation.” 

Mr. Granpert does spett out 
seme of the past faihues of leader- 
ship in Washington and in Europe. A 
When accords were readied in 
London in 1992, he says, the Stabs 
flagrantly violated them and no- 


posed tiie use erf American air 
power “lest it anger die Serbs.” 

Bui wink admitting some mis- 
takes durin g the Bush years, Mr: 
Gonmert ducks the decisive one: 
Mr. Bush’s tragic failure to chal- 
lenge tiwjbnhu Serbian on 
Ctoatia'in 1991. The aggressors 
and murderers among the Sabs 
took heart from, that and from 
later we akn ess, and their intransi- 
gence still flourishes. - * 

The New York Times. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


1894c Tanff Deadlock 1944: Hea for Lf^alty 

VV V?««r irAfltf ■ 'am a.' T __ — 


NEW YORK - — The deadlock 
between the two Houses of Con- 
gress over the Tariff Bill causes 
despair in mercantile and manu- 
facturing circles. Stocks were 
comparatively stiff, but it is the 
stiffness of death. The result is 
absolute stagnation on Wall 
Street. The oountzy is impover- 
ished,. so tbat there is no new 
buying power, even if the situa- 
tion were surib as to encemrage the 

hope of higher prices. ' 


iwmwan pressing HE 

1919s Washington Riots many, this information 

~ . “cck of a new arm 


WASHINGTON — The Capital 
is still aflame over therace riots 
of last night tJofy 21], arid there 
is virtually martial law. Shooting 
still prevaflS over the entire city. 
There is indiscriminate .firing 
from windows, and. continual 
dashes in street cars between 
whites and blacks. : 


LONDON — [From bur New 
-Yodc edition:] Adolf Hitler's 
swift purge of rebellious officers 
has spread to the fighting fronts 
in Russia, France and ^possibly 
Italy, with eight eastern front 
co mm anders arrested or -ousted, 
reports from the French frontier 
declared tonight [July 231. Dis- 
closing that the anti-Hitier 
drone attempting, a coop d’etat j 
perh aps extended to generals ac - 1 
tivdy battling the giant ADied 
“fltaiadrcr pressing upon Ger- 
many,' this information came on 
the heels of a new qppeal from 
tne Nazi command for firm loy- 
alty from German soldiers; Un- 
reports persisted of 
street dashes, supporting specu- 
lation that the ends was not yet 
over, and there were evidences of 
sagging morale among German 
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ART 

Sarurdoy-Suwdfl)' 
July 23-24, 1994 
Page 7 


A Modern Dynasty of Architects 

By David Galloway tionaiytn their insistence on rejected trends and ism while costly for most diems. Gou- 

B IELEFELD Genna^ jdumrwting aD barriers be- striving to be aesthetically and fried moved on to lighter, 

nv Tn the 'medieval t9Kea altar and the con- technically “up to date." more streamlined techniques, 

tradition of the Bau- 6^**“®- He and his son For all their individual dif- though like his father and 
master who saw no ' Gottfried first collaborated in Terences, the Bielefeld survey sons, he continued to cultivate 


>• *,v - 




By David Galloway 

B ielefeld, Germa- 
ny — In the medieval 
tradition of the Bau- 
master, who saw no 
conflict between the plan of a' 
work and the muddy boots of 
the bidding site, architectural 
dynasties were common 
enough. Skills, jealously 
guarded professional secrets 
and lists of clients were fre- 
quently passed from father to 
son, as in all crafts. Cathedrals 
and palaces, even as late as the 
19th century, might well con- 
sume the s kills of generations. 
No modern architectural clan 
can compete with the BOhms, 
who have produced five archi- 
tects in three generations. 

Their achievements are 
presently being explored at 
the Bielefeld Knastnalle (until 
Aug. 14), with family projects 
that range from 1918 to 1994. 
Domenikus B&hm was cele- 
brated above all for Ins eccle- 
siastical buildings, influenced 
by Expressionism and revolu- 


tionary in their insistence on 
dimrnatmg all barriers be- 
tween the- altar and the con- 
gregation. He and his son 
Gottfried first collaborated in 
1949, when they rebuilt the 
first of many bombed-out 
churches. 

Neither hither nor son un- 
derstood such assignments as 
routine or creatively inhibit- 
ing. Far mare, they saw the 
donee to bring the past and 
the present into fruitful dia- 
logue. Both of them intuitive- 
ly grasped the transcendent 
quality of space itself, so that 
even tbdr secular buildings 
often project a sacral aura. 
Domenikn^ who died in 1955, 


in the tradition of the Baroque 
— also a guiding principle in 
the new Deutsche Bank head- 
quarters that 74-year-old 
Gottfried Bdhm designed for 
Luxembourg. His sons — Ste- 
phan, Peter and Paal — seem 
determined to cany on a fam- 
ily idiom which has staunchly 


.a.-. -. 




,r i . 

-i-. 


■ ' 1 



. . .7 • IZkC ;■ '■ •-;•* ' v * 

Gottfried B&hm*s drawing for St Anna's, Hammem. a M 


rejected trends and isms while 
striving to be aesthetically and 
technically “up to date." 

For all their individual dif- 
ferences, the Bielefeld survey 
makes dear that there is a 
consistent and deep-rooted 
family aesthetic at work. It 
originates in a sense of crafts- 
manship even older than the 
practice of architecture as a 
profession. Domenikus 
Bfibm’s father was a contrac- 
tor Who built according to his 
own plans; two of his undes 
were weavers, and six of bis 
cousins became architects. 
Gottfried, who received the 
coveted Pricker Prize in 1986, 
married an architect who is 
active in the family practice. 

Gottfried origindly intend- 
ed to become a sculptor, while 
Stephan first studied music 
ana Peter painting before they 
decided, after all, to follow in 
the family footsteps. The 
works rtf the 1960s that first 
brought Gottfried B5hm in- 
ternational recognition are 
unmistakably “sculptural" in 
approach. 

The most famous of these is 
the pilgrimage church at Ne- 
viges. east of Dtisseldorf, 
where the architect conceived 
a dense, crystalline structure 
that to rise organically 
from the hilly landscape. 
Completed in 1968, the struc- 
ture’s folded and interlocking 
un dMt attest to the continuing 
influence of Expressionist ar- 
chitecture, though the light- 
flooded clarity of the interior 
spades a more reductionist 
language. Constructed of 
poured concrete, the church 
belies the hardness and poten- 
tial banality of its material. 

Typically, Gottfried BGhm 
pushed the technique, origi- 
nally fawned as a cost-effec- 
tive on-site expedient, to an 
exacting degree of craftman- 
sinp. Such buildings were lit- 
erally handcrafted with the 
exactitude of the cabinetmak- 
er and ultimately proved too 


costly for most diems. Gott- 
fried moved on to lighter, 
more streamlined techniques, 
though like his father and 
sons, be continued to cultivate 
a p reference for the warm 
tones and variegated texture 
of brick. 

The feeling for texture, for 
the intricate play of light and 
shadow, of dense and trans- 
parent mate rials, is dramati- 
cally communicated in the 
drawings of the five archi- 
tects. Here, one can best ap- 
preciate the conceptual sub- 
tlety of their achievements, 
and the Bielefeld show re- 
stricts itself almost entirely to 
this preliminary graphic 
phase. 

Though there is little dan- 
ger that viewers would con- 
fuse the bulky forms rendered 
by Domenikus Bfihm, often 
beneath brooding graphite 
clouds, with the sensuous ge- 
ometries of his grandson Pe- 
ter, something of a family sig- 
nature is recognizable 
throughout the generations. A 
solidity, a sense for crafts- 
manship. a lack of manner- 
ism, a sensibility to detail are 
among the haHinaHrs So, loot, 
is an undisguised love of mon- 
umentality — a quality that, 
particularly in modern Ger- 
man architecture, can arouse 
disconcerting ideological 
overtones. 

This, however, is not a mon- 
umentality that oppresses or 
intimidates, but one that ani- 
mates and inspires. The un- 
derlying humanist is at once 
apparent in the drawings, with 
their vivid feeling for space 
and for vista as an experien- 
tial quality of the bu3t work. 
It is not the building as a soli- 
tary monument but the build- 
ing as an arena for human 
activity that offers the primar 
ry focus here. 

David Galloway is an art 
critic and free-lance curator 
based in Wuppertal, Germany. 







M’ 4 * % A"- 

% fV h 

"i ft? 


Georges Lemmen’s portrait of the Serruys sisters, painted in 1894, was his last work in the Pointillist technique. 

Belgian Reply to Impressionism 

L ONDON — How could we have dramatic. Impressionism may have in- later, with reflections in the water curious- 
missed it so long? With no stone spired the idea of a light palette but other- ly rendered in different colors, does not 
left unturned in and around Im- wise it does not come into iL qualify as Impressionist either. The Poin- 

pressionism, its avatars in Bdenim Nor does it really in a view of the sea tiUist technique creates a mosaic effect. 


Nam June Paik Joins the Mainstream 


... ....... 


By Ken Sbulwran 




M ilan — wtai 
happens when- *he • 
language of she 
avant-garde is less 
audacious the language of 
common use? What happens 
what a public evolves beyond 
the visions of its prophets? 

The avant-garde prophet has 
essentially two choices: He can 
cease to function as a viable 
matrix of art, or he can sidle 
from the fringe of popular con- 
sciousness into the teeming 
mainstream. At the Araogario 
space at Palazzo Reale in Mi- 
lan, Nam June Paik has opted 
for the latter. 

“Nam June Paik: The Sha- 
man of Video," a collection of 
12 video installations on view 
through Oct. 9, might very well 
have horrified the 62-year-old 
Korean-born artist had he seen 

' £ In th<rr960s, fresh with a de- 
gree in the history of music and 
art from the University of To- 


kyo — where he wrote Ins se- 
nior thesis on the composer Ar- 
nold Schoenberg — ■ Paik had 
jnsi; begun Ms first experiments 
with video art. In 1963. In Wup- 
pertal, Germany, Baflc, who at 
.the time was more composer 
than visual artist, created a 
sculpture out of .13 television 
monitors, using an electromag- 
net to distort the simultaneous 
images on all of the sets, hi 
1965, he first used a portable 
video camera In one of . his 
sculptures. 

In the two decades that fol- 
lowed, Paik explored an entire- 
ly new course of art, using both 
as his medium and subject an 
invention that would soon dom- 
inate not only commmacatkms 
but life on Earth. Inherently op- 
timistic, with an underlying 
current of Mrpersanal brand of 
Oriental Marxian, Park's video- 
sculptures and installations dis- 
mantled television, both fignra- 
tivdyand literally. 

In the 1980s, contemporary 
. and popular culture caught up 
with rak. The banks of televi- 


sion monitors that swayed in 
detached ecstasy above the 
dance floor at Studio 54, the 
television stores that panted 
video cameras at shoppers hop- 
ing to lure them in si de, the fre- 
netic pace of MTV, all these 
were real-life realizations of 
Falk’s intuitive and innovative 
video prophecies. At times. 
Park’s video art even seemed 
tame in comparison 

“The sculptures and installa- 
tions in this show are far less 
intellectual then they once 
would have been," says Donri- 
nique Stella, one of the curators 
of the Milan exhibit “This 
time, Paik is aiming toward a 
larger public." 

Park's having gone pop has 
definitely not co mpromi sed Ms 
craftsmanship. Tire works cm 
display are ail aesthetically 
pleasing and approachable. In 
“Cello” (1994), a homage to 
Park’s 1960s collaboration with 
the cdhst Charlotte Moorman, 
Paik sets & cello in the middle of 
Ms composition and frames it 
with six rows of television mon- 


BOOKS 


the shadow of the 

7 PANTHER: 

Huey Newton and the Price 
7 > of Black Power in America 

By Hugh Pearson. 422 pages. 
.?■ $24. Addison-Wesky. 

Reviewed by 

Michael K a z i n 

O NCE upon a time, Huey 
Percy Newton was a revolu- 
tionary hero. At the end of the 
1960s, his elegant mulatto face 
and trim, muscular body 
gleamed from countless posters, 
underground newspaw** ,jam- 
eographed leaflets and buttons. 
Newton had recruited 
J nal members of tos Hack Fn- 
> ther Party for Sdf-Defaise with 
the audacity of a Ore Guevara. 


IM 1 — — — 

cd white police force to disarm 
him. After one confrontation m 
1967 ended in a policemans 
death, Newton went to prison 
he issued forceful, roman- 


veal how Newtonaod Ms organi- 
zation abased the power they 
wielded. 

Newton, who dubbed himself 
Servant of the People, sabo- 
taged, in Pearson’s view, whatev- 
er good Ms party had accom- 
plished. After getting out of jail 
on a technicality in 1970, be be- 
came a cocaine addict and ca- 
reened through a life erf extreme 
contradictions. In public, he 
ceased talk about “offing pigs," 
journeyed to Yale for a senes of 
debates, and made alfiaaoes with 
local liberal Democrats; private- 
ly, he styled hrmsdf the don erf a 
black Mafia- In 1974, he fled to 
Cuba to escape charges of kiOmg 
a prostitute and pistol-whipping 
his tailor. Aube age of 32, New- 
ton had destroyed Ms pofitical 
career, hi 1989, he made a final 


demanding free chunks of crack, 
the erstwMle revolutionary was 
shot to death by a gang member. 

Pearson, a black 
with tire Pacific News 


perceived as failures. The Bm- 
tbers were launched in 1966. 

Newton rooted Ms party in 
the str e ets, but he never shed the 
self-destructive habits of that 
segment of the underclass and 
mistrusted any followers who 
questioned Ms drug-binges and 


ly criticizes the ’60s left and the 
media for “elevating the rudest, 
most outlaw dement of Made 
America as the true keepers of 
die flame in all it means to be 
Made" People who are that 
damaged cannot lead a success- 
ful movem en t for social dwnp» 
The conception of Pearson's 
book is thus a laudable one. He 
successfully treads the fine be- 
tweea cBsnissmg the Panthers as 


itors that follow the concentric 
contours of the instrument The 
video images are dear, exuding 
warm, primary colors in a 
soothing, almost underwater 

rhy thm 

In *TV Garden,” Paik effects 
a subtle, almost subconscious 
harmony between green leafy 
plants and a series of television 
monitors whose images, modu- 
lated fight and strangely gur- 
gling sound track flow through 
the vegetation as naturally as a 
mountain stream. The state- 
ment, that television and video 
have evolved into an indelible 
dement of human conscious- 
ness, has already been made. 
With Ms message long dissemi- 
nated and absorbed, the Paik 
who fashioned the video sculp- 
tures at Milan seems less inter- 
ested in illustrating his vision 
than in embellishing the public 
scenery. And this be does ex- 
tremely well. 

Ken Shubnan is an American 
writer based in Italy. 


a hand erf thugs and apologizing 
for their offenses by referring to 
the angiy topper of tire times. 
He fails, however, to explain 
why thousands of college stu- 
dents and others in the growing 
blade middle class were attract- 
ed to Newton’s party or why 
Huey was still a boo to the thou- 
sands who viewed Ms casket and 
attended his funeral. 

And Pearson's presentation 
lacks the empirical rigor a sub- 
ject this controversial demands. 

Michael Kazin. a teacher ar 
American University and author 
of the forthcoming book, “ The 
Populist Persuasion.- An Ameri- 
can History” wrote this for The 
Washington Post 


L ONDON — How could we have 
missed it so long? With no stone 
left unturned in and around Im- 
pressionism, its avatars in Belgium, 
somehow escaped our scrutiny. “Impres- 
sionism to Symbolism. The Belgian Avant- 
Garde 1880-1900 " at the Royal Academy 
until Ocl 2, is the surprise of the season. 

Not least, perhaps, because it has so 
Kttle to do with Impressionism- The Poin- 
tillist fad that the discovery of Seurat’s 
work, exhibited in Brussels in 1887, was to 

SQUREN MELHJAN 

trigger briefly was no more than a ripple 
over the waters of a complex pool of cre- 
ative energy. If there is one common de- 
nominator behind the seething activity re- 
vealed by this remarkable show, it is how 
easily the Belgian painters parried tire on- 
slaught of French Impressionism. 

A still lifi painted by Henri de B racke- 
teer in themia-1 880s illustrates the curious 
outcome of conscious resistance. This was 
at a time, we are assured in the catalogue, 
when the artist’s production underwent a 
marked decline. If so, his decline was ad- 
mirable. Two deep faience dishes filled 
with fruit and bread and a jug are done in 
thick touches of bright paint. These give 
the still life a jewel-like effect set off by the 
white tablecloth. Except for a certain 
sketchiness, the elaborate composition 
with its attention 10 minute details, such as 
a glassy reflection on tire neck of tire blue 
jug, is a world apart from Impressionis m. 

So is a still life painted in 1882 by James 
Ensor. Vegetables piled on a table, as in 
some picture by the I7tb-cenniry Flemish 
artist Frans Snyders, are painted in vibrant 
light colors. The table itself stands against 
a wall done in irregular dabs of nonde- 
script grayish brown. A small window 
above the table is reduced to a dark hole, 
with a g la s s boule on the windowsill 
gleaming out of the blackness. The effect is 


dramatic. Impressionism may have in- 
spired the idea of a light palette but other- 
wise it does not come into iL 

Nor does it really in a view of the sea 
painted by Ensor in 1884 in an unrelated 
style, or m one of his masterpieces, the 
“Tower of LissCTrege," painted in 1890. A 
wide open plain looks like a spread of 
emerald green dots spiked by blackish 
strips under an unreal sky. Without the 
small Gothic tower in the middle, the pic- 
ture would not be instantly identifiable as 
a landscape. Abstractionism is dose, with 
a visionary quality. Impressionist, Neo- 
Impressionist? Not remotely. It defies cat- 
egorization, like so many other works. 

Even prolonged exposure to Impres- 
sionism m its own homeland seemed to 
leave Belgian artists unaffected. Fdicien 
Raps, bora in Namur in 1833, had settled 
in Paris for good by 1874. He must have 
seal every single Impressionist exhibition. 

But in “Snow at Thoz£e." a marvelous 
landscape of 1 885 on loan from the Credit 
Communal de Belgique, not a trace of it 
can be detected. Dark trees on a strip of 
land surrounded by water look like expres- 
sive shadows under the glow of a wintry 
sky. A deeply poetic atmosphere emanates 
from the scene. 

A similar mood inspired a landscape in a 
different style by Thfo van Rysselberghe. 
Painted in 1882, when the artist was only 
20, the “Pool in Kempen” is as simple in its 
composition as it is subtle in feeling and in 
tire handling of detail The sky, all in 
nuances of faceted white and grey, is mas- 
terly. B ehin d the immediate influence of 
the Barbizan school there lies the heritage 

Rysselberghe to make a 180-degree turn- 
about The artist dutifully set out to apply 
the lessons erf Pointillism but be did not go 
any further than adopting the technique of 
juxtaposed color dots. Other than that the 
portrait of Anna Boch painted in 1892 is 
an academic exercise. Vastly superior, a 
view of the Scheldt estuary done a year 


ART EXHIBITIONS 


lata, with reflections in the water curious- 
ly rendered in different colors, does not 
qualify as Impressionist either. The Poin- 
tillist technique creates a mosaic effect, 
neat and precise. 

Other painters put the technique to a 
different use. In 1890, Georges Lemrnen 
turned to Pointillism to paint pictures in 
which linear detail is important, a perfect 
paradox. A “View of the River Thames. 
The Elevator,” dating from 1892 or 1894, 
shows a carefully done construction at left, 
of which part is outlined against the sky. 
The glowing red band of a sloping roof and 
as intensely yellow short strip at the foot 
of the construction give it a surreal touch. 

The portrait of the Serruys sisters paint- 
ed in August- September 1894 was the art- 
ist’s last work in tins technique. He used it 
to execute & work of quasi-photographic 
predskm for which it was never intended. 
The folds on tire smocks, done with geo- 
metrical rigor, give it a sculptural feel 
strangely combined with intensely glowing 
colors. This, again, has a surreal touch — 
one of the women has a hypnotical stare: 

A literary strain was creeping into Bel- 
gian painting. Some pictures tell stories for 
which the script has yet lobe written. “The 
Man who Passes” by Georges Le Bran 
done in 1900 in charcoal on paper has a 
touch of Seurat’s maniere noire, but it is 
relentless in its precise detail. In the elabo- 
rate interior of a house, a man is seen 
through a doorway at the back of a room, 
vanishing into a side passage. An oppres- 
sive. closed-in feel is contrived. 

“La NuiL” done in 1908 by Lhan Spil- 
ti&ert, has an even more marked literary 
slant Ail in shades of black and gray, it 
shows the tiny figure of a top-hatted man 
fumbling his way on a wet sidewalk along 
an enormous construction. Odd and inex- 
plicable, it looks like a still from a movie. 
As a painting, it does not go very far. Only 
the idea counts. The 20th century was 
overtaking Belgian art. 


The isamu 

noguchi 

garden 

museum 


32-37 Vernon Boulevard 
l.on« Island City. 

Neu York 11106 

H edf>e-d;n .Saturdays and Sundays. 
H AM-ftPM April throuph Nov ember 
Out 3110 work-- In Isamu Nouuchi on 
display in 12 "aOcrics and a sculpture 
garden 


Far transportation information: <7 US) 20-1-70S8 





July 7- August 22 


“...btits 20th year 
one of the great 
American achievements.' 
-John Russell 


newauthor 8 

” PUBLISH YOUR WOTK 
all subjects considered 

Write Of aandgw te 

UINB1VA press 


A UTH ORS 

In IK PnWHi Yimt I m* 

UlV VfhiKfr AKMlctt'd 
InrlmtinR Rrligfcjn. Knqpaphy. 
rJriklrurS SimVx. Cuom 
7 niWiml Hnl IV<ii» 
AVON IKJOKS flT?.- 

‘ -VA. I ’ark Ifawd. 

Unirbirt SWI ! ilk. Enj^ind 
lUrmf a-r ftrfj&Jx'fh Amk'tHfrm. 


Iolanthe « Gilbert & Sullivan 

Ariadne auf Naxos - Richard Strauss 

L’lncoxonazione di Popped • Monrevcrdi 
H Barbiere di SivigjUa. - Rossini 


607-547-2255 


Bo* 191 * Coopetsfown, NY • 13326 


1994, 

30th Anniversary 
of the Fondation Maeght 


Georges Braque 


5 July - 15 October 1994 

Fondation Maeght 

06570 Saint-Pau!. France 
Tel.: (331 93 32 81 63 - Fax: (.33) 93 32 53 22 


Arts & Antiques 

Every Saturday 
Contact Fred Ronan 
Tel.: (33 1)46 37 93 91 
Fax: (33 1)46 3793 70 
or your nearest IHT office or representative 



KV v VS 5S. 






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Page 8 





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International Herald Tribune, Sacurday-Sunday, July 23-24, 1994 


Page 9 



THE TRIB INDEX: 113 

International -Herald Tribune World Stock Index©, composed of 
280 internationally investable stocks from 25 countries, compiled 
by Btoomberg Business Nevus. Jan. 1, 1992 «.1 00: 
t2o : ; 



ftsJa/PacHic 


Appm weighting: 32% . - 
CtoEE 130.78 Piavj 132JK 


150 


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Gtosa:1K53Prev_M14b8 




F M A M 
1993 

J : J 

19M 

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19SS 1994 

9 North America 


Latin America 

Approx, weighting: 26% 
Causa 9358 PrewjBB.lt 
150 

n 

Approx, wefghfcig: 5%' Ml 

Ctoa: 1 1644 Pirn.* 114,75 lEttl 



The Max tracks US. dollar values o 1 stadia n Tokyo, Nw York, London, and 
Argentina. Australia. Austria. Belgium, Bnd, Canada. CWte, Denmark, Finland, 
Franca, G erma ny . Hong Kong, My, Mex ic o. NeBierlanila. Hair Zaaftnd. Norway, 
Singapore, Spain, S weden. swRawtad and Wenaanle. Ar Tokyo. New York and 
London, tae tod&x is composed of the so tap issues In (arms of market capbaBzotion. 
otherwise Fro ten tap stocks am tracked. 


1 Industrial Sectors 1 


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Pm. - % 


to 


% 


don 

das* dung* 


dow 

dm 

dmp 

Energy 

1 12-30 

11190 +0.36 

Capital Goods 

; 115.42 

11456 

+1.02 

UflHea 

119.79 

120.09 -025 

RnrHstetMs 

127.57 

126.45 

+069 

Finance 

T1&54 

117.45 -0.77 

Consoner Goods 

98.80 

9639 

-009 

Sendees 

' 11893 

111166 +023 

Hscefeneous - 

128 £8 

128.16 

4041 

For mom Inhumation abort tin Max. e booklet Is avateWa free rt charge. 


Wits to Trib Indue, 181 Aybuub Charles do Gautie, 92521 NsuBy Cedes, Fiance. 


. . OWwrniitonal HeraM Tribune 


Dollar 
Awaits 
Fed Move 

Witt Rate Rise 
Follow the Talk? 

Ctxnpikd by Our Staff From Dispoidta 

NEW YORK — The dollar 
finished with mixed results Fri- 
day as investors pondered 
whether a U.S. rate increase 
was im mi ne n t after several gov- 
ernment officials spoke out in 
support of the currency. 

The dollar finished in New 
York a! 1.5980 Deutsche marks, 
up from 1.5925 DM Thursday, 
and at 98.95 yen, down from 
99.15 yen. The dollar rose to 
13552 Swiss francs from 13477 
and to 5.4800 French francs 
from 5.4435. The pound edged 
up to 51.5276 from Si >5240. 

Alan Greenspan, the chair- 
man of the Federal Reserve 
Board, reiterated Friday that it 
was "dearly in our interests to 
have a strong dollar.” 

But although be acknowl- 
edged the dollar’s movements 
sometimes played a “quite im- 
portant* 1 role in determining 
central bank policy, he said tbe 
Fed would not raise interest 
rates merely to stabilize the cur- 
rency. 

The dollar fell back after Mr. 
Greenspan’s comments because 
they were seen as less suggestive 
of a near-term rate increase 
than statements he made earlier 
in the week. 

But investors were reluctant 
to push the dollar down far be- 
cause Mr. Greenspan’s remarks 
closely mirrored the stance tak- 
en by Treasury officials and 
other members erf President BOl 
Clinton’s administration this 
week. 

Although government offi- 
cials have made sporadic efforts 
to talk up the dollar before, this 
rime investors began to believe 
the government was serious 
about supporting its currency 
because the Treasury and the 
central bank shared the same 
theme. 

"This is the first time since 

See DOLLAR, Pmge 10 


Facing Exile to Brighton 

Choice lor American Express Workers 


By James Hansen 

laurnarional Herald Tribune 

MILAN — American com- 
panies, often inclined to be- 
lieve that "united states" are 
a good idea anywhere, have 
been more intent on treating 
the European Union as a sin- 
gle market than native com- 
panies. Now. American Ex- 
press is giving 1,000 of its 
employees in Europe a 
chance to be even more pan- 
European than they might 
want. 

American Express is asking 
local employees across the 
Continent to make a hard 
choice: remain in glamorous 
capitals like Rome. Madrid 
and Paris but lose their jobs, 
or accept a job-saving trans- 
fer to Brighton, the pleasant 
but less cosmopolitan resort 
city in the south of England. 

In one of the first cases of 
so-called international mobil- 
ity, the American credit card 
company is proposing to 
avoid layoffs at Continental 
processing centers by trans- 
ferring excess personnel to its 
European headquarters in tbe 
English seaside town, where 
more staff is required, the 
company said. 


The transfers are part of a 
broad American Express plan 
that calls for personnel cuts at 
1 6 regional “back office" cen- 
ters in major European cities. 
It will affect more than a 

1.000 of the company's 8,000 
employees on the Continent. 

Although it has become 
routine for multinationals to 

r So far, we’ve 
been lucky with 
the weather.’ 

An American Express 
executive 

bounce their executives 
around the globe, the Ameri- 
can Express personnel in- 
volved are midlevel adminis- 
trative employees. 

The transfer package 
worked out between Ameri- 
can Express and its European 
labor unions offers employ- 
ees a one-time payment of 

510.000 to cover moving ex- 
penses, assistance with hous- 
ing costs over a three-year pe- 
riod and a free one-year 
course in English. 

The company is offering a 
series of “familiarization 


tours" to prove to Continen- 
tal employees that there is life 
after Dover. About 150 have 
already visited Brighton. 
“And so far, we’ve been lucky 
with the weather,” an Ameri- 
can Express executive said. 

According to David Miller, 
the company’s rice president 
for human resources/ Europe, 
none of the company’s em- 
ployees has so far accepted 
the plan, but, be said, “the 
first feedback is good.” 

“Obviously, not everyone 
is going to go for this."' Mr. 
Miller said. 

The transfer plan is volun- 
tary but, at about a third of 
the rites where it is in effect, if 
it does not achieve the pro- 
posed savings in personnel 
costs, the alternative is a gen- 
eral reduction in working 
hours — and pay — for all 
hourly staff. 

In Rome, where transfer is 
being offered to 143 of Amer- 
ican Express’s 700 local em- 
ployees, an officer of Fxsac- 
Cgil, the Italian banking and 
credit workers union, said 
“Some of the younger, more 
adventurous people may be 
interested,” but that “enthu- 
siasm is not widespread.” 


China Rejects 
Textile Quotas 
And Warns U.S. 


Reuters 

BEIJING — China on Fri- 
day castigated tbe United 
States for slashing its quota on 
Chinese textile imports and 
warned of a possible trade war. 

According to Chinese media, 
Washington decided to cut Chi- 
na’s textile quotas as of July 1 in 
retaliation for an estimated S2 
billion of Chinese textiles that 
Washington says come into the 
United States each year bearing 
labels saying they come from 
other countries. 

No percentage or dollar value 
of the quota reduction was dis- 
closed. U.S. Embassy officials 
could not be reached for com- 
ment. 

“The United States is tramp- 
ling on the Chinese-U.S. bilat- 
eral agreement on textile trade 
by cutting import quotas with- 
out presenting enough proof,” a 
Foreign Trade Ministry spokes- 
man was quoted as telling the 
official China Daily. 

China said the unilateral 

a uo la reduction was ordered 
espite an agreement reached in 
January that both sides said 
had averted a trade war. In that 


deal, the rides set new measures 
to halt quota-busting by Chi- 
nese textile companies and limit 
the skyrocketing growth of Chi- 
nese textile exports. 

“China is willing to bold con- 
sultations again and reach satis- 
factory solutions," the ministry 
spokesman was quoted as tell- 
ing the Xinhua news agency. 

“Otherwise, the Chinese side 
will reserve the right to make a 
further response.” He added 
“The U.S. ride will be held re- 
sponsible for all the conse- 
quences arising therefrom on 
the bilateral trade. The cuts are 
unjustifiable.” 

China sold textiles and cloth- 
ing valued at S7.2 billion to the 
United States in 1993, U.S. fig- 
ures show. 

The deputy U.S. trade repre- 
sentative, Charlene Barsbefsky, 
on Thursday reiterated Wash- 
ington’s long-standing de- 
mands that China open up its 
markets, remove trade barriers 
and crack down on violations of 
intellectual property rights. 

Beijing and Washington are 
expected to begin charting a 
new relationship next week. 


Sales of PowerBook Help Pull Apple Back to Profit 


Cmpiledby Our Staff From Dispatches 

NEW YORK — Apple Com- 
puter Inc. said Friday that high- 
er profit "Mqnns and lower re- 
structuring costs helped pull the 
company bade to profit in the 
third quarter of its financial 
year. 

Apple said it earned a net 
$138.1 million, reversing from a 
loss of $1883 million in the 
third quarter of 1993. Revenue 
was $2.15 bilHon, up from $13 
trillion a year ago. 

Tbe company said brisk sales 
of its PowerBook 500 line of 
notebook personal computers 
and Power Macintosh comput- 


ers were responsible for the 
bulk of the revenue gain. 

Apple's gross profit margin 
rose to 26.7 percent in the third 
quarter from 24 percent in the 
second quarter. 

“We are pleased to see indus- 
try support budding around the 
Power Macintosh,” said Mi- 
chad Spin dler, Apple’s presi- 
dent and chief executive officer. 

The company also said 
“ chang in g business conditions** 
allowed it to lower its estimate 
of the total cost of restructur- 
ing. In the 1993 quarter, the 
company took a charge of 
5320.9 rnHSoa for estimated 


costs associated with restruc- 
turing. But a readjustment of 
that estimate added $126.9 mil- 
lion to net income. 

“Over the last quarter we 
have improved our financial 
model, controlled our costs, 
and managpri our working capi- 
tal extremely weH,” Mr. Spu- 
dler said. 

(AP, Reuters, Kni&t-Ridder) 

■ Bankers Trust Net Slides 

Bankers Trust New York 
Coip. said Friday its second- 
quarter earnings fell 28 percent 
as ris in g interest rates and vola- 
tile worldwide stock and bond 


markets took a toll on trading 
revenue, news agencies reported. 

The seventh-largest U.S. 
banking company said net in- 
come fen to $181 million from 
$251 million a year earlier. 

Trading revenue, or income 
made directly from the stock 
and bond markets, fell to 5124 
million from $405 million in the 
1993 quarter. Trading-related 
revenue, which includes com- 
missions, fell to $121 million 
from $122 million. 

Revenue from Bankers 
Trust’s client financial risk man- 
agement business was dented by 


losses in tbe derivatives market 
incurred by corporate clients like 
Procter & Gamble Co. and Gib- 
son Greetings Inc. 

The company did not dis- 
close exact figures on the im- 
pact of trading in derivatives, 
which are instruments like in- 
terest rate swaps that derive 
their price from a security, 
stock or commodity. 

Trading aside. Bankers 
Trust's asset quality showed 
continued improvement in the 
quarter. There was no addition 
to the credit loss reserve in the 
quarter. 

( Bloomberg, Knigfu-Ridder) 


r 

r» 

id 


ECONOMIC SCENE 


BigPa; 


By John Holusha 

New York Tima Service . . 

G ARY, Indiana . — 
The blast furnaces, 

rolling mills and 

slab carriers at 
UJ5. Steed’s lakefront plant 
here are running flat out these 

days, producing coil after coil 

of sheet steel Tor the automo- 
tive, appliance and container 
industries. 

The six-mile-long (10 kilo- 
meters) plant, despite the lat- 
est technology, is struggling to 
keep up with demand — 
which is precisely the way the 
UjS. Steel International Inc. 
unit of USX Coip. and other 
big American steelmakers 
planned it 

After a decade of collapsing 
markets, bankruptcies by the 
dozens, mill closings and lay- 
offs in the hundreds of thou- 
sands, prosperity has returned 
to the American steel indus- 

try. This time, the industry is 
prepared to let some business 

slip away rather than gear up 

to meet a peak demand that 
ma y be fleeting. 

Although the social costs 
over two decades have been 
staggering in terms of lost jobs 
and economically ravaged 
mill towns, big steel’s ma- 
keover is reaping big payoffs. 
The industry is expected to 



earn SI billion this year, com- 

pared with losses of about 
$350 million in 1993. 

- Inland Steel Industries Inc. 
and AK Steel have just report- 
ed -strong second-quarter 
profits, reversing losses a 
earlie r. And USX’ 5 UJS. 

Group is expected to soon re- 

port earnings in tbe range of 



NYT 


mestic mills are flooded with 

orders from the American in- 

dustrial heartland. 

Analysis estimate that the 
nation’s integrated steel mills 

— those that convert raw ma- 

terial such as iron ore, cool 
and limestone into finished 

sled — operated at 96 percent 

of capacity last year. Fore- 

casts are that the industry will 
operate at 97 percent of ca- 
pacity this year and 98 percent 
m 1995. 

“The steel industry is in 
pretty good shape for at least 
the next five to 10 years,” said 
Harry W. Paxton, a former 
Steel executive and now a pro- 
fessor at Carnegie Mellon uni- 
versity. “They cut back on 
manpower, put in new equip- 
ment and did a whole bunch of 
things to improve cm quality." 

Steel has even started to re- 
claim same of the market 
share lost to plastics and other 

materials in automobiles and 

appliances. A shortage of suit- 
able timber may provide a 
long-sought opportunity for 
sled to replace wood in some 
residential instruction. 

Yet any assessment must be 
tempered with caution. Some 
analysts say the industry’s fi- 
nancial position was weak- 

See STEEL, Page 13 


CURRENCY & INTEREST RATES 


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Air France Rivals to Examine 
EU Bailout Approval Terms 


r 


Bloomberg Business News 

PARIS — The European Commission is virtu- 
ally certain to approve next week a massive 
government bailout of Air France. The question 
is, on what conditions? 

European Union airlines, their lawyers and 
other parties interested in EU policy on state aid 
are eager to see the terms under which the com- 
mission allows France to give its national airline 
20 billion francs ($3.7 billion) to keep it flying. 

An official in Brussels, who spoke on condi- 
tion of anonymity, said the commission would 
attach the fofiowmg conditions: 

• Limits on tbe size of Air France’s fleet and 
routes served. The carrier will not be able to 
increase its fleet beyond the 146 planes it already 
has, and it will cot be able to expand the Europe- 
an routes it serves. 

• The money may not be used for the French 
domestic carrier, Air Inter, an Air France unit. 
That carrier competes with British Airways’ 
French sabsidiaiy, TAT. 

• No funding beyond the 20 billion francs 
promised will be allowed for the period of the 
restructuring, three years. Also, the funding will 
be awarded in three tranches, with the commis- 
sion having to approve the second and third 
tranches before they can be awarded. 

• Air France must sell its Meridien hotel 
chain, a sale that is already in tbe works. 

• Air France must mum to tbe French govern- 


ment tiie 1.5 billion francs raised for the carrier in 
1993. That payment was the subject of a com- 
plaint filed with tbe EU by British Airways. 

The French government also is expected to 
drop restrictions on the number of flights by 
other European airlines into Orly airport south 
of Paris, although it is not yet clear when those 

AEtafia’s rhtoinup” peas over the horizon to a priva- 
tized company wftfa foreign affiances. Plage 11. 

restrictions will be dropped or whether there 
would be a complete end to all restrictions. 

Air France's rivals are particularly keen to see 
limits on capacity, or the number of available 
seats, and fares. 

The greatest fear of its rivals is that the French 
carrier will simply use the package of aid to fund 
operations, allowing it to match low faxes of 
competitors by subsidizing flights with the res- 
cue money. Instead, they say. Air France should 
use the funds only to restructure — and that 
would involve cutting the work force. 

Over tbe last year, the EU has come under 
strong pressure from carriers including British 
Airways and KLM Royal Dutch Airlines to level 
the playing field by banning state aid. 

The commission said last month it would 
phase out all aid by 1997. 


Geneva Wins 
Trade Agency 
Over Bonn 

The Associated Press 

GENEVA — This 
French-speaking city has 
defeated Bonn as the seat 
of the new World Trade 
Organization, in a mayor 
setback to German hopes 
of becoming an interna- 
tional diplomatic center. 

After weeks of dithering, 
a WTO panel decided Fri- 
day that the new organiza- 
tion should lake over the 
headquarters of the Gener- 
al Agreement ou Tariffs 
and Trade, offered free. 

The recommendation by 
the WTO subcommittee on 
finance and administration 
was adopted at an after- 
noon session of the WTO 
preparatory committee. 

A statement said both of- 
fers were “largely compara- 
ble in quality” but that Ge- 
neva had the edge as it was 
host to other international 
organizations and would 
aid a smooth transition 
from GATT to tbe WTO. 

The WTO is to start life 
in January. 


Mercedes-Benz Expects 
Stronger 1994 Results 


Compiled by Our Staff From Dupaiches 

STUTTGART— In its most 
optimistic assessment of earn- 
ings this year, Mercedes-Benz 
AG an Friday predicted “sub- 
stantially belter" results for 
1994. 

The prediction added 2.5 per- 
cent to the share price of Daim- 
ler-Benz AG, toe parent of 
Mercedes and the largest indus- 
trial conglomerate in Germany. 
Daimler shares finished at 772 
Deutsche marks ($494) on tbe 
Frankfurt Stock Exchange, up 
from 753 marks on Thursday. 

Mercedes attributed the ex- 
pected rise in profit to the suc- 
cess of the new C-dass model 
introduced last summer, and a 
gradual recovery in demand for 
new cars. 

“WeH report a substantially 
better result for 1994,” said 
Helmut Werner, chief executive 
of Daimler’s biggpst subsidiary. 
“We’re proceeding according to 
the plan on which we agreed. 
It's a good statement, and 
shows that we’re on the right 
track.” 

The brighter outlook for 
Mercedes reflects a broader im- 
provement for the market as a 


whole. A number erf its Europe- 
an competitors, including Re- 
nault SA, Volvo AB and Fiat 
SpA, have reported higher re- 
sults for the first part of the 
year. 

The company’s optimistic 
prediction comes despite an ex- 
pected drop in sales in the seo- 


Economies am gathering steam in 
France and Britain. Page 11. 


ond half of the year. While 
strong sales in the United States 
helped sales erf new cars climb 
37 percent in the first half of 
1994, Mr. Werner warned that 
sales in the second half would 
faD short erf last year’s level. 

Mr. Werner also said the 
company plans to hammer out 
an agreement by the end of tbe 
month to absorb the bus opera- 
tions of Karl Kaessbohrer 
Fakrzeuge GmbH, ehmmaling 
its biggest domestic competitor 
in the bus market 

Mr. Werner indicated it was 
too early to predict whether the 
company would make a profit 
this year. Analysts have predict- 
ed a profit 

(Bloomberg, AP) 


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Tin ‘•cc4H«im1i>Kinnnl>*i , fla(!iniinnnAnfinnBniifc>b 


Page 10 


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


** 




MARKET DIARY 


Dow Inches Higher 
In Damp Mood 


Compiled by Otr Staff From Disptndta 

NEW YORK — U.S. stocks 
posted a slight gain Friday as 
expectations of an economic 
slowdown dampened optimism 
about earnings at Apple Com- 
puter Inc. ana Microsoft Corp. 

As long as concern persists 
that the Federal Reserve will 
raise interest rates and curtail 
economic growth, even robust 
earnings at technology bell- 
wethers aren’t enough to rally 


U.S. Stock* 


an industry group, let alone the 
entire market, said Philip Ta- 
sho, portfolio manager at Sbaw- 
mut Investment Advisers. 

The Dow Jones industrial av- 
erage ended 2.59 points higher 
at 3,735.04, ending the week 
with a loss of 18.77 points as 
de clining issues narrowly over- 
took advancing issues on die 
New York Stock Exchange. 
Volume totaled 262.5 million 
shares. 

A decline in McDonald’s also 
pressured die Dow. The shares 
fell 1% to 26ft even though the 
fast-food chain said second- 


quarter earnings rose 12 per- 
cent. The results matched ex- 
pectations. but Peter Oakes, a 
Merrill Lynch analyst, down- 
graded the stock, citing “a con- 
tinued erosion in McDonald's 
same-store sales trend and more 
impressive eamings growth in 
other sectors of the market” 

Some issues were getting a 
boost from good earnings re- 
ports, but investors remained 
cautious about a potential in- 
crease in short-term interest 
rates. 

Apple Computer jumped 2% 
to 30ft after it said lower costs 
and increased shipments of its 
new Power Macintosh comput- 
er helped it post net income that 
was above expectations. 

Shares of Microsoft gained 2 
13/16 to 50 9/16 after the com- 
pany said earnings for its first 
quarter ending Sept. 30 would 
be between 24 percent and 30 
percent higher than last year’s. 

Optimism about Microsoft 
gave a boost to other software 

stocks. 

Eastman Kodak rallied 1% to 
49ft. 

(Bloomberg, AP) 


DOLLAR: Awaiting Rate Moves 


Continued from Page 9 
Clinton took office that the 
Fed. the Treasury and the 
White House are all on the 
same side about the dollar, ” 
said Angelo Evangelista, vice 
president for currency trading 
at Bank of America. 

Mr. Evangelista said the 
thought the Clinton administra- 
tion had reversed its dollar poli- 
cy because the currency’s weak- 
ness had contributed to a slump 
in the bond market That slump 
drove up the low interest rates 


Foreign Exchange 


that were central to Mr. Clin- 
ton's plan for stimulating the 


dollars which are not being re- 
cycled into Treasuries,” said 
Gary Sakamoto of NatWest 
Markets. 

The dollar was held back 
against the yen because traders 
were concerned that talks 
aimed at opening Japanese 
markets to U.S. goods would 
not bear fruit, leaving Japan’s 
$60 billion trade surplus 

with the U.S. intact. 

A report that Japanese offi- 
cials wpold walk away from 
trade talks with tbe United 
States this weekend if its com- 
promise proposal was not ac- 
cepted fueled those fears. 

The dollar has been extreme- 


economy and reducing the fed- 
lentit. 


ly susceptible to any talk of 
*ija 


eralde 


But Treasury bond prices 
red to slui 


continued to slump Friday on 
sentiment that Mr. Greenspan's 
remarks pointed to a rate in- 
crease sooner rather than later. 

“The open question of 
whether they have done enough 
on interest rates is really spook- 
ing the fixed-income markets,” 
said Adrian Cunningham, cur- 
at UBS 


rency economist 


5S Ltd. 

price of the benchmark 
30-year Treasury bond lost 
7/32 point, to 84 21/32, taking 


the yield to 7.56 percent, up 
: Thursday. 


from 7.54 percent ' 

“The market is awash with 


trade problems with Japan, be- 
cause that country's burgeoning 
trade surplus with the United 
States has been blamed for the 
dollars recent plunge to post- 
war lows against the yen. 

Japanese exporters also are 
continuing to sell dollars far 
yen to repatriate profits, which 
also kept a lid on the dollar. 

“Last week, the dollar was 
teetering at the edge of the 
abyss,” said Marc Cohen, man- 
aging director at C-Wave Capi- 
tal Management, a currency- 
trading fund in Fort Lee, New 
Jersey. 

(Bloomberg, Knight-Ridder, AP, 
Reuters) 


VaAngdg^dhm 


ju*» n 





NYSE Most Actives 


Telef 

VoL tflgh 
81202 41ft 

LOW 

4116 

Loot 

41* 

aia. 

McDnldS 

f'/v* 1^1 

24% 

26* 

—1ft 

Compoo* 

50973 31* 

30ft 

30ft 

— ift 

TdMax 

40408 57* 

5516 

S7ft 

+ ift 

IBM 

* 1 1 ',W '- i 

61ft 

41* 

—1 

Humana 

^ * TmTHI 

17ft 

18* 

+ift 

Otase 

7*2* 

37ft 

37ft 

-ft 

Ollcorp 

i f ’ r • *■ 

40 

40Vi 

to 

PNC 

25759 28* 

20ft 

28ft 

-ft 

K mart 

23068 14* 

16ft 

16ft 


F+neDee 


40ft 

40ft 

—1ft 

LevttJ 

bWTmITI 

7% 

Bto 

—1ft 

PepsiC 

20308 Xft 
19857 2M6 

10 

30ft 


WMXTC 

28ft 

29 

—ft 

AT4T 

19825 54ft 

53ft 

54ft 

-ft 


AMEX Most Actives 


XO-Ltd 

AExsi 

omtsits 

Honwis 

AlTKtlj 

accos 

ViOCTTl rt 
OwtMed 
RortoOo 
Vtocwtc 


21907 Wji 


18701 BV 


Vo L Mali LOW 
Z»83 lft, 1ft, 

» 

5669 Sto 6ta 

3751 IM 18V„ 

3497 41ft, «■ 

3462 22 21% 

3060 4<A 4ft 

2980 1ft m 


a 


& 

iav* 

§ 

ft 


—ft. 


—ft 

—ft 


NASDAQ Most Actives 



VoL Mod 

LOW 

f «le» 

an. 

Micxfts 

95072 50ft 

47ft 

50ft. 

+ T*h 


83171 14ft 

ISVu 

15ft. 

-ft. 

Applet 

49914 31 Ate 
42855 20ft 

30 

18ft 

31 

20ft 

+3 

+m 



1ft 

2ft 

—an 


32760 20ft 

20ft 

W! 


Intel 

32724 60 

sm 

— to*, 


27053 2Sft 

24ft 

25ft, 



26334 7ft 

4ft 

7ft 

USHSthi 

24938 37ft 

35ft 

37ft 

+ift 

FalCor 


22 

22ft 


imaDv 

10ft 

19 

+cs 

TefOriA 

23772 22ft 

21* 

22ft, 

♦ft. 

Lotus 

22460 32ft 

30ft 

31ft 

— 16. 

OmdCr 

22326 nte 

<*• 

•h. 

♦ft. 


Martlet 


NY36 

Aim 


hi muttons. 


Today 

4:M 

26094 

15357 

262J8 




Dow Jones Averages 


Open Htah Low Lost 0*9. 


Indus 3742.16 374248 3734.68 3735X4 -M9 
Trans 1654.97 1607X4 1597.38 1606.12 -8JB 
UM 18X77 183.10 1BZJS 103.10 -0.92 
Comp 1290.71 1»$J9 1993.41 1997.90 -Ud 


Standard A Poor's Indexes 


Industrials 

Tramp. 

Utilities 

Finance 

SP 500 

5P1D0 


HMl LOW 
529.39 527 .S! 
38U6 38445 
156X1 135.13 
4677 4153 

wm 499 n 

421J4 WM 


Ctese 

5349 

306.13 

15544 


453.11 

420« 


a 

+ 088 

+ UB 

-HUM 
UnUL 
+ 0J0 
+ 033 


NYSE Indexes 


Mob law Lost aw. 


Compo6in 

■ndusrWs 

TrtmSO. 

uwv 

F ranc* 


250.71 MS 2MJ4 -D.18 
309.32 308-25 30074 -0-22 
245-31 24346 24437 -0,93 
507.05 90646 20639 *0.19 
21148 71046 2114X2 *038 


NASDAQ Indexes 


Mat) 


Composite 

Mdustiiats 

Banfcs 


TrartSfl. 


71637 71432 716.14 -1.11 
776.75 77448 72147 — 0J9 

748.13 76537 76746 -034 
an JO 88X82 091.93 * 733 

934.14 93X24 93341 —033 

71626 71336 71X40 -XJ5 


Dow tlonos Bond A 


30 Bands 
10 utilities 
10 Induatrlals 


9731 

9334 

10149 


— 004 

— 017 
+ O10 


AMEX Stock Index 


Men low 

m w o 


ais. 

4021 


NYSE Diary 


Advanced 
DacOned 
Unchanged 
Taw issues 
New Hiatts 
New Laws 


1105 

987 

751 

2843 

34 

56 


1111 

76S 


AMEX Diary 


Declined 
Unchcmged 
Total issues 
Now Matts 
New Laws 


275 

229 

Z75 

274 

263 

234 

813 

797 

2 

4 

9 

T3 


NASDAQ Diary 


Advanced 

Declined 


Tow Issues 
NewHlDM 
New Lew 


1 so 

1913 

1923 

5072 

65 


1553 
1533 
1990 
5076 
. 66 


Spot Commo dW ee 


Commodity 
Aluminum, Id 
Cooper etetfrutytlc, D> 

iron FOB. ton 
Lead, lb 
Silver, trov az 
Steel (scrap), ton 
Ijaa 

Zinc, lb 


Today 

0673 

1.19 

21100 

038 

£M 

11947 




0483 

213* 

038 

£33 

11947 

3449 

0*75 


EUROPEAN FUTURES 


Metals 


CIO** _ 
Bid Ask 


A LUMI NU M CHlEk Otwdel 
“ " per metric tee 


BM Art 


Delian 

spaw 


apar Utta> 14K00 

Forward 150930 1S11X0 

COPPER CATHODES CHlSl 
Delian pw metric tan 
Spot 35D630 2JWJ0 

Forward 2SKW 251A00 

LEAD 

Doltan per metric tea 

ss as 

NICKEL 

Dottars per metrfctw 
Seat 6755X0 628030 

SS«rd 624500 629MB 

TIN 

Pollen Per wetrictad 

Spot 52X30 32*0X0 

Forward 


jULm 


1153100 

Grade] 


2531X0 3532X0 
2539X0 254000 


ow nil anto ft 
600X9 <01X0 


6290X6 000X0 
6385X0 6390X0 


53OSX0 5315X0 


zmc» p*del HW ion*e> 
~ pef msTnc mh 


3345X0 325540 
5420X0 5430X0 


DoSmpef 

SUrd 


96650 Wtt 0 
991X0 99100 


97650 977X0 
1001X0 1002X0 


Financial 


HUH 

MKHCTH STERLING fUFFKl 
OBMW-ptaef impel 
lea 9458 


Dec 


Dec 


Jun 


94X6 UnctL 
9691 Uneh. 
93X1 —0X2 

9176 — 0X2 
91X0 —0X3 

9194 —0X3 
9170 —0X1 
91X1 Uneh. 
71X1 Uneh. 
9110 LMctr. 
9071 —0X3 

90J6_— 0X8 


73X0 9271 

92X4 92* 

92X9 91X2 

9174 9147 

9154 91X0 

91X4 71X9 

91.13 91X9 

9096 9092 

_ 90X2 9030 

Eat. volume: 31416 Open M-- 50280 
M8QNTH EURODOLLARS CUFF® 

SI mMon - Mi aHM pet 
Sep 94X3 94X2 9C77 —0X5 

Dec 94.15 94.14 94.11 —0X4 

Mar 93.91 9U1 93X7 —0X3 

J«a N.T. N.T. 93X7 —0X4 

sen n.t. N.T. ntn —am 

Eat. volume: 200: 3*44X11. 

LONG GILT (LIFFH3 

esMOO - M> • 32Bdi el 100 pd 
Sep WM2 ICQ-22 1BM9 — 04B 

Dec M.T. N.T, 102-04 — (KM 

Eat. volume: 51X72. Open InL: 114X35. 
GERMAN GOVERNMENT BUND (LIFT'D 
OM2MW-Nl4tM»PCt 
Sep 94.15 9346 91X6 —0X6 

Dec 93X0 7LR 93X9 —0X6 

Est volume: K8X72. Open tat: 18A1B4 
10-YEAR FRENCH GOV. BONDS (MATIF1 
FT5MXM uts^OO — <U4 

SS iis^ JS8 ^ =2S 

JO N.T. N.T. N.T. Uneh. 

Eat. vehime: 1U429. Open hit.; 1S5497. 

oSr^% R ?««s <UFF,n 

945S 

Si? 

93J0 
9343 

N.T. 

N.T. 


Am 




mso 

944 a 
94J9 
9612 
9351 
9172 
93X2 
93X1 
K.T. 
N.T. 


95.11 —0X4 

9SJTI —ex* 
94X2 —aw 
94X7 —0.10 

9430 — 0.10 

94X1 —an 
93X2 —aw 
9165 — 008 

93A5 — «X7 

9125 —0X8 
93X9 — 0J8 
92X6 —0X0 


Est volume: 12L765.0M I (rt.: 802,172. 
SMOOTH PIBOR (MATtF) 

FFSmlMen-pts at 1M pet 
SOP 94X7 94X3 94XS +0X5 

Dec 94X6 94X1 9424 +005 

Mar MXB 94X3 94X6 +DX3 

JOB 91X9 93X1 93X4 + 0X2 

Sep 9347 93X9 9341 UrK*. 

Dec 93X8 93X3 93X2 — 0X2 

Mar 9114 9119 9111 —0X3 

Joe 93X1 9272 9255 —2X4 

EoLvehme: 32X55. Open InL: 126454. 


Industrials 


HM Low Le 
GASOIL (IPS) 

UJLdoUanper metric ton-Mef 120 ten 

151X0 15325 15425 15425 +075 
ISgjr ISLS 0 I 9|ff I 'M n o + us 
W1J5 159X0 161X9 161X0 +1X2 
NOV 16375 16175 16175 16175 + 2X0 

DOC 165X0 163X0 165X0 169JD +1X5 


Oct 


Kfeh Law Lost Settle Ctfte 


JB2 747X0 165XD 187X9 I62X 0 +125 

Feb N.T. N.T. N.T. 16650 +225 

Mar 164X0 U4X0 164X9 164X0 +225 

EM. volume: 11409. OnenW. 10277 


Sep 17X4 -17X1 17X5 1744 +al6. 

S3 1776 17X» 1773 1775 + 0.1B 

17X7 1779 17X3 17X3 +0.17 

17X1 .174* 17X3 17X5 +015 

17X3 1723 T7XB 17X8 +0.17 

17X5 17X5 17X5 17X2 +0.17 


NOV 

Dec 


Feb 


Bit. volume: 33204. Open kit 29X83 


Stock Indexes 


HM Lew den ON bop 
FTSEWOCUFF® 


- « ^ Sgg tm 

Est. volume: U242. open bit.: 52AM. 

CAC 42 CMATIF} 


Jul " 205X0 2052X0 205X00 —112* 

AM 2991X0 2*42X0 2M1X0 —12^ 

. I»fi fuss 3 S 3 

MW • H-T. N.T. 2MSL5B -U00 

Eat. volume: 30X42. Oped Mx 7L30L 

Sovrcaa: Motif, Assac/atmL Press, 
London Into Financial Future* 
into Patnftom Bxehaam 


Dt vf dUda 


. INCREASED 

aaggffs § s 

HF Financial Q .15 

§ 3 

Stwltan BnCP Q .15 

SPECIAL 

Park View Fed - JO 

SS^fSdvtaarv I 5 

‘ INITIAL 


M *19 

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*3 *17 
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CENIT BnCP • 
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resist 

Cincinnati G6E 
Oa-aa Bk Concord 

Cohadcd BncOrpA 

Cromaton Knowles 

Hawefl ind 
Inti Game 
Int e r a l ul ePwr 
tmeMere fife Carp 

l^rnemnCorv 

Corp 



Natl Q JO 


To Our Readers 

NASDAQ stock prices were 
not available for tni* edition 
because of technical problems 



Quaker Sees Flat Four* Quarter 

CHICAGO 

tiem in Brazfl aad dis yp'???° g prqectiott excluded a 


f 


Appeal Helped %lheon Bid 

WASHINGTON CW^- 
hadlSf^to^ytheon bid 

“with every Brazilian leader 1 roet, from the president down. 

Southwestern Bell Profit Surges 14% 

■ _ . *. /.am i&wtWriem MI Chu Sniil 



AUV . 

company earned S38SJ: nilGa^ori S4‘ 
cento aSTinS quartet, 31 p«cmt more tfaan yep- 
profit of^Sl nriffion, or 49 cento a dare, after a $43 nriDicat 
charge to refinance loajg-tenn debt. 

Kodak Splits Office Imaging Division 

ROCHESTER, New York (Bloomberg) — Eastman Kodak- 
Co;, continuing a reorganization, said Friday it was breaking ito ; 

office- imaging division into two businesses. _ 

Richard t.fcouxns, ereculive vice president of the company's 
imaging group, wffl head the new businesses, Kodakaud, Edgar J- 
Greco, vice president and general manager of office imaging, 
plans to r e ti re Sept 1. 


Westinghouse Profit Shnnps 11% 


PITTSBURGH (Bloomberg) — Westinghoose Electric Corp. 
said Friday that second-quarter earni n gs fell 11 percent became 
of die continuing downturn in electronics and. power-generation. 

Westinghouse posted net income of $75 million, down frmn $84 
miffinn, m the second quarter last year. Revenue fefl to S2.1MUon 
from $12 bilUon. 




More Kidder Officials Expected to Quit in Fraud 


By Sylvia Nasar 

New York Tima Service 

NEW YORK — Further executive res- 
itions are expected soon at Kidder, 
abody & Co., the troubled brokerage 
company owned by General Electric Co^ 
informed sources said. 

The resignations could , come even be- 
fore the findings of a three-month internal 
investigation into tbe Joseph Jett case are 
made public in a week or two. 

Mr. Jett was dismissed as head of the 
government-bond trading desk in April 


and accused by the company of fabricating 


$350 milli on m profits with phony trades. 

chief ex 


The GE chairman and chief executive 
officer, John F. Welch Jr, would not give 
nam es in an interview. But asked who 
would be leaving Kidder because of the 
scandal, he said, “Things are going to hap- 
pen, obviously. That’s all I can tefl you.*’ 
While officials have not indicated which 
Kidder executives might depart, the inves- 
tigation has focused on how any action of 
such proportions could have escaped de- 
tection of Mr. Jett’s supervisors. 


The scandal has already forced the resig- 
nation of Michael A_ Carpenter, who was 
Kidder's chief executive. 


Exide to Buy Spain’s Battery-Maker 

BLOOM FIELD HILLS, Michigan (Bloombog) — Exide 
Corp., tho'U-S. manufacturer of lead aetd batteries, said it had 
agreed to buy the Spanish battery maker Socscdad Espafiola del 
Acumulador Tudor SA from its majority shareholder Banco 
Espaikd de Crtdito SA (Banesio) for $230 milfinn in shares. 

txide plans to launch its tender offer as soon as the Spanish - 
Securities CommissBon anaoves the agreement. The pmdtase' 
{pves Exide 57 pocmt me company and furthers its recent push 
into the E uropean maricet • . 

Kellogg Earn mg s Rise 6>2% 

BATTLE CREEK, Midraan (Bloomberg) — Kellogg Co said ; 
Friday that earimogs rose &2 percent in the swxmd quarter as the 
conmany made wbridwide efforts to improve opetaticaa Hke ; 
product distribution and plant efficiency. 

The cereal riant said net income rose to $lS15‘m31ioh, or 68 
cents ashare, from $142.7 mDSon, 62 cento, a year eariier. Results 
fra last year Mrs. Smith's pies and Argentine snack-food 

operations, both of which have since been sokl 






The report summarizing tbe findings <rf 
GFs in tonal investigation, headed by an 
outride counsel, Gary G. Lynch, will as- 
sign blame solely to Mr. Jett, according to 
those familiar with the report. 

But a major focus of the report is the 
manner in which Mr. Jett was supervised 
and the circumstances surrounding his hir- 
ing and promotion to managing < 


For die Record 


Medaphb Coip^a provider of medicalrmanageanehi services, 
agreed to acquire Advacareilnc, a medical Wiling and manage- 
ment company, far $95 imlEon in stock and debt. ( Bloomberg) 
Thebond of New York Times Co. tfpi eyed the construction of 
a $315 mflEaa printing and_distributx»i plant in CoUcge Point, 
Queens, to replace operations in ntidtown ^Mtahattam The new 
plant will allow the use of addrm advertiringand news sections of 
the daily paper. . . (NYT) 



WORLD STOCK MARKETS 


Afloat* fiance Aw* My 33 


Amsterdam 

ABN Amro HW 5630 5*40 

ACF HoUHno 45J0 45 

Aooon 97 M 96 

Ahold 4620 _4+» 


AMEV 
Bob-Wesaoncti 
CSM 
DSM 
Ebevter 
FoWcw 
Glst-Bmcadea 

HBG 

Ma l n rta n 

IHC Cakmd 
IntarMurtcr 
inti Nederland 
KLM 
KNPBT 
KPN 




Oo*L 
Pakhotd 
PMltaa 

Polmrnm 

Robtn 
Bodamoo 
Rallnco 
Boronta . 
Rovol Dutch 
Stark 
Uni few 
VanOntmsrvn 
VNU 


WoUWKhTMr 11570 114X0 


Brussels 


AG Fin 
Almanll 
Arhad 
Barca 
BBL 
Bataeit 
CBR 
CMB 
CNF 
Cock anil 
Cotwxa 
coir 


2530 25SS 
7510 7600 
4790 4490 
2300 2300 

4160 4145 




Etactrohel 

Etoctrptlna 

GIB 

GBL 

Gevaert 

Giavanjoi 

immatwi 

KrxOettxmX 

Mowra 


moo i . 

2400 2370 
2000 2000 
189 182 

59*0 5920 
7300 7180 
1264 1258 
5210 5B00 
3400 3305 
1362 1360 
<150 4180 
9520 9550 


Pmnrfta 
Ractleel 
Royal* Beige 


2970 2940 
*660 6600 
1470 1470 
1IB75 10200 
3200 3090 
SD6 500 
5410 5640 


SocGcnBanquC' 2100 8130 


SocGan 
SaRno 
Sol wav 
Tasaondarl* 
Tractabei 
UCB 

Union Mbifere 
WMonsUta 


ave 2305 2250 
H 74200 U100 
14200 14050 
9810 9740 

9980 10000 
23973 23725 

2570 2563 

7400 7390 




Frankfurt 


AEG ton II 

AlcoMSEL 353X0361. 
Allianz Hold 2515 W 

Altana 591 995 

Aim 1000 1002 

BASF 310303X0 

Bow _ Mixoaaa 

Bay. Hypo bank 438 433 




BHF Bank 
BMW 


406 AW 
873 SO 


Comment*** 341X0337X0 
Conflnontai 264X02SUo 


264X0! 

DoUnfer Benz 772 7S3 
□ammo 500 482 

Dt Babcock 2OJ0 23 1 
DwtsdtaBenk 732X0 731 
□ouokn 486 480 

DrestJnw Bonk 389 386 
F Mtfm u aW* 306 306 

F Knn» Huesdi 216 212 


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1 1 1 1 1. -I 

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Kail Sab 
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KOUfftaf ... 

KHD 149X0146X0 

KtotcfcmrWftrketoXD 151 





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Mauiesncain 

Metaltaesell 

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924 919 

X 1X0 19590 
438 430 

443 436 
203 199 

3010 3010 
702 775 
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332X0 230 

4594SUS 


CtaMPrev. 



Helsinki 

Aimr-YMvma _J22 123 
Enso-GvtwJt 
Hutitamakl 
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Metro 
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Reooto 

5tackfncnn 


4180 <120 
170 160 
11 JO 1160 
125 123 

170 170 

500 493 

70 69 

96 96 

211 205 




Hong Kong 

Bk East Agio 31 XD 3230 
Camay Pacific 12.10 12J0 
OnuncKona 3i20 34JO 
Oibw Ltaht Pwr 39 JO 40 
Dairy Farm Inn HL80 10X5 
Hang Lima Dew 1340 13.10 
Hano Sana Bank 54 54X0 
Handenan Land 3X50 32X0 
HK Ahrens. 4 SJO 44J0 
HK China Gas V42S 14J0 

HK Electric 23X5 23 

HK Land 19X5 19X5 

HKReatty Trust 2aw 21.10 
H5BC Holdings 89X0 19X5 
HKSBang Htls 11J0 11X0 
HK Tafecomm IS 14X0 

hk Parry 14J0 eb 

Nutctl Whampoa 34A0 34.10 
HysanDmr 21X0 7135 

Jonfln* Math. 62J5 61J5 
Jardlne Str Hid 2290 22X0 
Kowlaan AHolor u isxo 

MmKtarfai Orient 10.10 KL20 
Miramar Hotel 20JQ tojo 
H ow world Dev 23JB 2ZJV 
9HK Prop* 47X0 47X0 

St* lux 2X6 2X6 

SwtniPacA 59J5 6025 
Tai awung Pros 11X0 12 

TVE 3X0 160 

Wharf Hold 31 30.90 

Wing On Ca Inti 11X0 10X0 

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22X0 2335 
118 118 


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128X0 126 

243S 24X0 

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TIB MK 
4530 4178 
100 1M 
26 86X0 
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2735 27X0 
198 2BS 
5536X1 


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5J? 5X4 


2.9B 3 

2X7 2X6 


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BAA 

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Bank ScntlaM 1X7 1X7 

Barclays 5 M 5X6 

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BAT 
BET 

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BOC Group 
Boots 
Bawaiar 
BP , 

Bril Almays 
Brircas 
Brfi staff 

Brit Telecom 
BTR 


155 5X3 

4X3 425 


1.16 1.13 

121 3.14 


7X3 728 

525 521 


439 438 

413 4X7 


... 430 

279 279 


1X0 1 

190 3X2 


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423 432 


435 

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438 

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118 222 
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528 521 

US 181 


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Gem Acc 
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Hanson 
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225 

184 

6.10 

£75 

421 

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Maries Sp 
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142 

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426 

470 


445 

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1650 


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Severn Trent 
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Smith Neohew 
SmlthKHneB 
Smith rwHI 
Sun Alliance 
Tata 81 Lyle 
Tosco _ 

Thorn EMI 
Tomkins 
TSB Group 
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Wellcom* 1 
wwtbreod 




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£33 

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166 

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n: 311420 


Madrid 


BBV 2960 2950 

Beo Central Htw. 
co Santander 


Bomstag 

CEPSA 

Dnxiados 

Endesa 

Brents 

iBerdraio 


5000 4978 


1 Q 00 moo 

JW 3)00 

niry ZP3D 

5910 5820 
IBS 183 
910 m 
4865 4030 
3273 TIM 
1850 1815 
UtOMerallrtex : 30J5 


Tetatanla 


Milan 


Banco Comm 


1 ££<& 




Creditai 

entchom 

Fortin 

Ferfln Risp 

Flat SPA 

FlnmeccaitGe 

Generau 

IFI 

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SIP 4575 4560 

SME »0 3920 

SdO 2560 2565 

Stunda 3650037750 

5 tat 5600 550 

Toro Assl Rls> 306SD 22950 


3£i3S?i&’ 


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Alcan Aluminum 33» 33W 
Btnk.Momraal J3U 


Beil Canada 
Bombardier B 
Combi or 


46M. 4216 
2066 2BV7 
17W 1716 

716 TA 


Dombdan Text A 
Donahue A 
MacMinan Bl 
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716 716 

12V6 12W 

19V. 1? 

B4 816 
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19* 19* 
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17* 17* 
18* 12* 
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BIC 
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Bouvaues 
SS»+GD 

Cents 
Charoeors 
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dub Med 
EK-Aquttalne 
EH^cnafl 
Euro Disney 
Gen. Eoux 
Havas 

1 metal — _. 

Laforgecoppee 440 442Xfl 
Lesrcmd 6229 6420 

Lyon. Eoux 525 531 

Orecrt (L'J lg? 1217 

UVXAH. 831 845 

Motro+tohetta 117 117 

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Paribas 388388X0 

PBCWneY Inti 165X0 161 JB 
Pernod- R! card 337 337X0 
Peugeot B3i 

Plnoull Prim 903 893 

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WvPoulMKA 1252013650 
Raft St. Louis 1646 1646 
Saint Gabaln 226 m 
!ra.B. 502 509 

Ste Generate »0 sn 
Swz 295 

ThotraorvCSF U&2816O10 
Total 302JO 313 

UJLP. 156X0 156J0 

Volga 283 287 




Sao Paulo 


Boko do Brasil 21 21 

Bouse 8X0 8-S5 

Bradesco 681 670 

Brahma 250 «0 

canto 78X9 7a 

EtatroOnas 216226X2 

ItouhgnCB 21 D 205 

LWtf 245 260 

Por on apowfBa u.w isjh 

Petrouras ntsonsjo 
Souzacruz sxoo SM 

TaJebras 4130 42X0 

Tfleip 365 349 

Usiminas 1X1 1X3 

Vale Ria Deer 1071U5O 
Varffl HA. 95X0 




Singapore 


Fraser Neove 
Genii no 
Golden Hop* PI 

Haw Par .... 

Hum* industries £35 £35 
Indtarte .£55 5X0 

KOPPel 
KLKmwrg 
Lum Chong 
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OCBCtarHai 


7J0 773 
£55 6-50 
11.10 11.W 
16X0 14X0 
1930 1930 
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120 128 


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1X4 1X8 
£80 1X5 
13X0 1180 
630 625 
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10X0 10J0 
£10 535 
180 3J8 
12J0 1280 
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1S90 15X0 
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1110 11U 
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yw8|s Ttm^jid .: IBM 


Ctaee Prev. 


Procardia AF 

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119 118 

115 112 
50 49J0 
122 120 
161 159 

VC 141 
405 395 

108 106 
3R0 371 


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Votva 


1X7 

095 0X7 
429 429 


Sydney 

Anwar 930 930 

AXZ 412 409 

BHP 1248 12X0 

Bora! 

BaugalnvBte 

Cotas My or — - — 

Conxrfco 5 5 

CRA 18J0 18J6 

CSft 478 474 

Faster, Brew 1.10 1.10 

fttSStiS* ilSi« 

minT" 0 ” & is 

Nat Aust Bank 10.98 10X6 

News Cara 687 8JB 

Nina Network 418 410 

N Broken Hill 3X2 3X0 

POCDurtOP 452 454 

Pioneer Irill 3U5 3X0 

Nnrndv PotaWnn 2.11 2 X» 

^ ?S 

473 472 
469 467 


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; Banking 

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Tokyo 

AkaiEledr, 492 495 

Asaht Chemical 767 70 

Asafti Gfcro 1200 ISO 

Bank at Tokyo 1541 1548 

Brktacstane 1590 1600 

Canon 1760 1770 

costa 1240 1240 

□m Ntoeon Print I860 1890 

Ddwa House 1480 V4» 

Daftra Securities 1630 1620 


Fanuc 
Full Bank 
Fun Photo 
FmrtsB 
HJtoctll 
HTtocnl CaOta 


ivr rem 
2240 2270 


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Japan Airlines 
Kafena 
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Mr 5 " 

Matsu Elec ird 
M atsu Elec Wta 
MitSuMHBfc 
MltaubfeMKOMl 
Mhsubfahl Elec 
Mitsubishi Hev 
Mitsubishi Core 
MlTsul and Co 

Mttsutashl 

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TOSO HOT 
M00 1010 
895 904 

1770 1800 


725 733 

% Si 

ISO 1210 
939 945 
735 _73B 


T7M 1760 
1140 1130 


NEC 

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599 698 
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1210 1210 
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Olympus Op K cd IMS 1140 

Ptadldr 

Ricoh 
Sanyo Elec 
Stara 
SWmaa 
StunetroChem 
Sony 

So mi tamo Bk 
SortftamaCnem 
Semi Marine 
Sumitomo Metrt 
TOM Cara 
TatahoMaiKM 
TakedaOwm 
TDK 
Tank? 

Tokyo Marine 
Tokyo Elec Pw 
Toppan Printing 
Ind. 


2910 2910 
953 962 

574 582 

1800 ISM 
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2110 2130 
SOSO 5950 
1950 1900 
531 832 

915 936 
292 293 

652 648 
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4430 4500 
533 574 

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763 775 
2170 2190 
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U.S. FUTURES 

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E«rttv Silver A 
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Fletcher Chall A 
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Hoillnaer 

Horsham 
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Sceptre Has 13* 1396 

SeotfsHosp JP6 B6 
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Sears Can 796 7V, 

Shell Can 41 40* 

Sherrftt Gordon T2H 12* 
SHL Svstemftee 896 8* 

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3X5 1X9 Dec 94 239 ft 24094 133ft 

£64* 337 Mats 3X4 £4516 329* 


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285 233 MOV 95 234ft 234ft 2 B* 

2859^ 23794X4 95 238V6 139 236* 

270 ft 239ft Sap 95 ZJ9 230* 239 

243 225* Dec 95 241 247* 2X0* 

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7X5 589*McrW 371 £77 £73* 

7iB* SJI*M0V9S58J £82 £79* 

7X6* 5J1* JX9S £85 SXS* £81* 

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£79 £78 Sep 95 

6J0* 578 ft Nov 95 £24* £14* £81* 

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


F&gell 

EUROPE 








. j LONDON— Official figures' 
.. . _ ~ v - ■flggested Friday that the Brit- 
"* ; .. v economy Lad returned to 

r- : m growth rates of the boom years 
p . ’\i?l the end of the 1980s, and 

l#;> p„ * Zenaeth Clarice, the chancellor 
' '%\\J Exchequer, pledged to 
*•' ' -insure continued growth. 

.. L'' r,m .? The Central Statistical Office 
•\ * _ ‘V. aid gross domestic product 
<* . rew a seasonally adjusted 0.9 
ercent in the second quarter 

• • rom the first quarter. In the 

• * irst quarter, GDP rose 0.7 per- 

* .:. c . ;enL 

The country’s domestic out- 
» ut was up 3.3 percent from a 
ittapL car earlier in the second quar- 
rS.3r, compared with 2.9 percent 
‘ the first quarter. 

Excluding oil and gas pro- 
notion, the economy grew “0.8 
’ ""percent in the second quarter, 
^ , r 2.7 percent year-oit-year. 

The data surpassed expect*- 
■ ons. 

The Central Statistical Office 
i . i iid total GDP was now 52 
• Qjjfcweent higher than at the 
T ough of the last recession in 

* "-^vic first quarter of 1992. 

-- :• ~ Mr. Clarke welcomed the 


nu 




.pickup in growth, which he said 
was notfstrongcr than at any 
tone since the eoun try's recov- 
t^begmin the second quarter 

. .-“We are seeing the sort of 
~reeovicty.we.want to see — 
steady, increasingly broadly 
based with unenquoyment fall- 
ing »wd inflation re maining 
low,” Mr. Qajke said 

“I intend to make sure we 
cum this favorable combination 
not into a boom,' which goes 
bust, but into an upswing, 
winch lasts for many years.” 

The government predicts 
GDP growth of Z75 percent for 
1994. David Coleman, an econ- 
omist at the Canadian Imperial 
Bank Of Commerce, said the 
target was realistic in view of 
the figures. 

The statistical office said that 
total GDP was now 1.5 percent 
higher than it was in the second 
quarter of 1990, just before the 
economy went into recession. 

But some economists say 
growth may slow under the 
weight of tax increases that 
effect in ApriL 

{Reuters, AFP) 




Manufacturing Output 
^rench Recovery 



Agave Fnmee-Prate 

\ ? PARIS — The French econo- 


who benefited daring the last 
few months from a payment of 



.v ^ Manufacturing output rose exporting to a recovering Euro- 
2 percent in May from April, maotet- 
le official statistical institute Customs figures published 
/ilvr h^rfSEE said. Industrial output, Thursday showed that French 
minding the construction and exports had risen 32 p e 
- ” ~ -ablic-woria sectors but in- 
- -• -mding manufacturing enemy, 

.Tr-iod and agriculture, rose 03 
sreent 

' Activity in the car in 
: .creased 1.1 percent, INI 

-- a zid. 


Pirelli Tires Rolling Again in Italy 

But Political Tunnoil Creates Uncertainty for CEO 


By John Tagliabue 

New York Times Semce 
MILAN — It took a near- 
disaster at Pirefli SpA, Italy’s 
giant rubber company, to 
bring Marco Tronchetti Pro- 
vera to the hdm. 

Rapid expansion in Europe 
and the United States in the 
1980s spawned a mountain of 
debt, and by 1992, when Mr. 
Tronchetti took over as chief 
executive in the midst of re- 
cession, the company’s an- 


chors of tires and electrical 
cables were foundering. 

The success of Mr. Tron- 
chetti, 46, in refloating Pirelli 
made him just about the most 
taOced-about man in Italian 
business while boosting the 
company's sagging shares. 

This year, the question is 
whether Mr. Tronchetti is 
tough enough to face down 
what may be a stiff er chal- 
lenge — keeping Pirelli from 
sinking in the new storms in 
Italian politics. 


the company's electric cable 
division, on which many ana- 
lysts say the future of the com- 
pany as a whole rests. 

And they have come when 
retrenchment and a strike at 
the company’s tire division in 
the United States, Pirelli Arm- 
strong lire Corp„ are high- 
lighting survival risks con- 
fronting all in the industry 
except giants like MrcheUn 
Tire Carp., Goodyear Tire & 
Rubber Co. and Bridgestone 

Chip. 

For all this, investors re- 
main bullish about PireUL The 
stock showed a 9 percent in- 
crease in the first half of July, 
though since then, the stock 
—like nearly all other stocks 
traded in Milan — it has been 
buffeted by the near-collapse 
of the government of Silvio 
Beriusconi. It closed Friday at 
3,460 lire ($3.50) a share, up 
60. 

Pirelli is the world’s thiid- 
largest maker of optical fiber 


_ _ t op 

They* threaten to swamp his cables, and Mr. Tronchetti 's 
strategic plan for the future of strategic plan is this: He badly 


wants to acquire a sizable 
slake in Telecom Italia, a 
company still on the govern- 
ment's drawing board as part 
of its work to privatize the 
state-controlled telecommuni- 
cations industry. 

The acquisition, be says, 
would ensure the nation of a 
major telecommunications 
company with the scale to 
compete when Europe's tele- 
communications monopolies 
break up. It would also pre- 
serve a base for Pirelli's cable 
manufacturing. 

“I think it important there 
be movement on both wings 
of the business,” said Luca 
Comi, a share analyst at Mi- 
lan’s Iniereuropa brokerage. 
“But Telecom is very impor- 
tant, also at a psychological 
level Optical fibers is where 
the company is lagging , and it 
would provide PnetiTwith a 
privileged access channel." 

Italian politicians take a 
different view. With Telecom 
going public this fall, Mr. 



tty :SfB8tafom of. Pira&s 1993 safes by product category. 


Motorcycle and farm 
machinery Cresand 
other products 19% 


Source: Company reports 


\ 'v A* ** -gjfier • . 
rfjai- v ■ 

.. q.; _ iTi r T, ** . \ 



Automobile 
Bras 55% 


industrial 
andcommarcLaJ 
vehicle tires. 28% 


The New Yori, Time. 


Tronchetti is under assault by 
two key groups. 

One is the state industries’ 
professional managers, wor- 
ried about their jobs if an ag- 
gressive industrial sharehold- 
er of the likes of Pirelli with 
dear business goals assumes a 
major share. 

The other is made up of 
small businesses central to the 
uneasy coalition that keeps 
the right-wing government of 
Mr. Berlusconi in power. 

The small businesses have 
long feared the weight of large 
industrial concerns. 

In Rome, legislators are ac- 
cusing Mr. Tronchetti of try- 
ing to transform what had 
been a public monopoly into a 
private one and have vowed to 
block any attempt by Pirelli to 
obtain a controlling share of 
Telecom. 

Mr. Tronchetti rejects all 
such charges. 

“Liberalization will cause 
two phenomena; First win be 
a lowering of rates, and sec- 
ond, a reduction of everyone’s 
market share. We’ve got to 
seize the opportunity, or Italy 
risks becoming marginalized, 
forced to cede development to 
third parties.” 

If history is any guide, Mr. 
Tronchetti is a master at seiz- 
ing opportunity. A graduate 
of the management school of 
Bocconi University. Mr. 
Tronchetti got his start in the 
S320 million-a-year family 
business, f^Tnfin SpA trad- 
ing in raw materials. 

After a spell in London as a 
trainee with a sea transport 
company, be returned to set 
up a shipping agency, and at 
28 he married Leopoldo Pirel- 
li’s daughter. They have since 
separated. 


Investor’s Europe 


Frankfurt 

OAX ■ 

2309 — 



London 
FTSE 100 Index 
3509%- 
.3400 


F-bnrsrr j 

.1993 



F M A M J J 
1983 ' 


F M A UJJ 
1893 ■ 


Bcchange:' 

index- 

AEX 

Friday' 
■dose : 
403.02 

Prev, . 

€3bs»'- ■ Change 
399.04 -+1.00 

Amsterdam 

erased* 

Stec k lndex . . 

7^96.10 

7,475.79 +0.27 

Froddiat ' 

OAX 

2,15028 

2,11330 +1.76 

Frtmkfim 

FAZ 

80&23 

800.56 +0S6 

HeteinW . 

HEX 

1,834.02 

1^16.57 +0J6. 

London 

Financial Times 30 

2,42520 

2,404.70 ■ +0.85 

London ' 

FTSE 100 

3,114.70 . 

3,095^0 +0.63' 

Madrid 

Genera! Index 

307.05 

30408 +0.98 

mm 

MIS 

1,18000 

1,16300. 44.46 

Paris 

CACAO 

2,041.41 

2,053.78 -0.60 

StoddKrfm 

Aflaamvaeridan 

1301^7 

1,88609 - +087 

Vienna 

Stock index 

453.94 

454^2 -0.06. 

Zurich . ; 

SBS 

924.44. 

917.26 +0.78 

Sources: Rentiers, AFP 


[mcmalimal Herald Tnhn 

Very briefly: 


• Glaxo Hnlifings PLC, the British drugs company, said it filed suit 
in the United States against Novophann Ltd. of Canada, charging 
infringement of its patent on the anti-ulcer drug Zantac. 

• The Commonwealth of Independent Stales’ industrial output fell 
an average of 27.6 percent in the first half from a year earlier. 

• Russia entered the capitalist phase of its privatization program 
Friday, allowing Russians to buy shares in cash and private 
investors to take control of privatized businesses. 

• BfG Bank AG, the German unit of Cr&fit Lyonnais of France, 
said it bought the 30 percent stake in Berlin-based Deutsche 
Handebbank AG it didn't already own from TreuhandanstalL 

• BankgeseOschaftBer&n AG wants to raise its 60 percent stake in 
Braunsdnreig-Hannoyersdie Hypothekenbanfc AG to 100 percent. 

• Germany’s trade surplus narrowed to 5 billion Deutsche marks 
(S3 billion) in May from a revised 6.7 billion DM in ApriL 

• Polish media venture NTP Plus SA partly owned by U.S. 
cosmetics heir Ronald Lauder’s Central European Media Enter- 
prises Group, has won 12 regional television licenses in Poland. 

• European Union average annual inflation was 3.2 percent in 

June, unchanged for a fourth consecutive month, the EU statistics 
office said. AFP, AFX. Bloomberg, Return 


.tin 

; to 107 billion francs, die 
amount since April 


£3 Alitalia’s CEO Peers Over the Horizon 


Total output has not yet re- 
wered to levels achieved he- 
re the recession but has risen 
_ otbruousty since November. 
■'--’French car manufacturers. 


The Economics Ministry said 
the figures showed thal tne re- 
covery was “robust and acceler- 
ating" and that gross domestic 
produrt might show growth of 1 
percent in the second quarter 
alone. The government is ex- 
pected to forecast , growth for 
the whole year of 1.4 percent 


Reuters 

ROME — Die state airline 
AHtalia, emerging from deep fi- 
nancial troublesT wants to ex- 
pand alliances with foreign air- 
lines and move to privatization, 
its chairman, Renalo Riverso, 
said Friday. 

Mr. Riverso, a former com- 
puter industry executive, was 


appointed this year to overhaul aims to trim costs by 700 billion 
the airiine, lire ($444 million) over the next 

Die timing gT,f * method of three years and improve pro- 
Alitalia’s privatization are still ductivity by a quarter, 
undear because a cost-cutting Alitalia, whose losses soaied 
and reorganization plan is just 


getting under way, he said. 

Mr. Riverso, 60, said much 
would depend on the outcome 
of the restructuring plan, which 


NYSE 

Fkfdfty*s dosing . 

Tables Include die nationwide prices up to 
, the closing on WaH Street aid do not reflect 
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twentyfold to 337 billion lire 
last year during a recession and 
price war. took a big step this 
month on the road to restruc- 
turing with an agreement to 
shed 1,570 jobs. 

Mr. Riverso said he should be 
able to take stock by the end of 
1995 as to how soon privatiza- 
tion can begin. “In my mind, 
the end of 1995 will be a key 
point,* he said. “We will be able 
to assess Alitalia’s situation and 
see if we can go or not.” 

Die cuts to the 20,000-strong 
work force fell well short of 
Alitalia's initial target of elimi- 


nating 4,000 jobs. But Mr. Ri- 
verso welcomed the cuts, saying 
they helped generate agreement 
on the need to rescue the com- 
pany. 

The cuts go along with a radi- 
cal shakeup of the route struc- 
ture and fleet to make Alitalia 
more flexible and efficient and 
to put it back in touch with the 
market, he said. 

Executives expect the airline 
to have a loss again this year but 
hope for a profit in 1995. 

Tighter forms erf cooperation 
with any future partner, such as 
cross-shareholdings, could 
come later if needed. 

“We must prove to ourselves 
that it works and we can create 
synergies,” the chairman said. 


ITT Must Moke CigaBid 


Bloomberg Business News 

MILAN — ITT Corp. 
must make a public bid for 
as many Ciga Hotel SpA 
shares as it already owns, 
Italy’s stock market regula- 
tor Consob said Friday. 

If the bid is fully sub- 
scribed, it would cost l i t • 
about 250 billion lire ($160 
million) and result in ITT 
owning about half of the 
shares in the luxury chain. 

A Consob director said 
the agency had not derided 
whether the bid would have 


to be for the 20.3 percent 
stake that ITT held at the 
time of Ciga's general meet- 
ing this month or the 24 per- 
ce nt it holds now. 

ITTs Sheraton Hotels di- 
vision tried and failed to buy 
Ciga hotels this year but 
then began buying shares on 
the market. 

Under Italian law. when a 
buyers accumulates more 
than 15 percent of a compa- 
ny without a public offer, it 
must make an offer for an 
equal amount of shares. 


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Page 12 


** 


/ 


NASDAQ 


Friday’s 4 p.m. 

TWs list compiled by the ap, consists of the l.rOQ 
most traded aocurrt&s in terms of dollar value. It is 
updated twice a year. 


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79*6 20%, ^ ft 
23% 23ft -4k 
79% 20b -1 

M xb — % 
15b ISM —16 
8*6 8 ft - 
36b 36b— 1 ft 
17b 17b —Jft 
12 12%. -ft 

14% 14*6 — b 
X 47% — 1 

32 - 32ft - 
Xb MW— b 
Xft Mb —ft 
T5 IS . _ 
IDh 19% 



4336 AgrdQXftd. 


»ft — U 
38% 38% — % 


Sft 0% 


AMEX 


FHcKay*s Cfosfaig 

Tables indude the nationwide prices up to 
the dosing on Wail Street and do not reflec 
date trades elsewhere. Me The Associated Press 


12 

HH* LOW Slock 


C6v YU PE 100s HUh UtwUMCh'ge 


Vi AAA In wt _ 

14% 9*6 AMC 
ZSMMftAWpf IJ5 62 
5 lVu ARC 

26% X ARMFpt 2d8 10J 

3 IV,. ASH Dt 9d 

75% 6 1*. ATT Fd 2jle 4.0 

S*6 4 AdcCom _ 

T/ta lftAchon 
6% 4 AttmRsc _ 

6% 2 AdvRn 
15% 9MAd9Moo 

4 ftAdvMedT _ 

10% 3% AdAAd pf _ 

5M 3 AdvPhOt 
2*h 2%Aeroson 
16% 7 1 /. AJrWot - 

7ft SUAIamgq 
5% 3ft Alena n _ 

18% 16 AHaeonn 1A4 Sd 

17% 4 AUdKjH _ 

11% 7%AHouH 
Aft 3 AUhaln 
11 4% AtoklGr 

"-SgSgmt" 


- 234 8 

20 377 Xft 
5 10ft 
_ X 1% 
14 20 12H 

I00u25ft 


H 734 3% 

_ 12 23*6 


6J 


71, 4UAmdhi 
IV„ VjAmhlth 
14% 9MAPS4P2 
»%16%APstRT 
25% 20 V, ABkCT 
27% 15% Aments 
.8% 2ft Air, Ecu 1 
TV,, l%AExpl 
14% 3*6 AIM B4 
6% 13% AIM X 
4ft 1 1 % AIM X n 
5 11% AIMffin 
Xft 14*6 AMZCA 
-4% AftAmPogn 
9% 6% AREIttv n 
13V, 7%Aftestr 
5% ZbASoE 
13% tbAmpal 
7ft AmpcB Hit 
40 9%Andrw 
A IftAngMtg 
7% 3*hAnuhca 
14b SftAnreann 
4*6 3H7u AnzLd 
11% 6ft ArkHjt 
lib 4 Artrvtti 

to ^aST 

7% 5 Ationrti 
.ft WAIISCM 
18ft AftAodua" 
3% VuAiUre 
»% 6 Aurora 
2ft 7'uAaoon 


_ 58 18V 

22 153 5% 

19 2D 2% 
15 Z1 6% 
17 741 2ft 
45 31 13% 

z 5 ^ 

_ 105 7ft 
6 10 7ft 

* IS & 

_ 247 5% 

- 485 17b 

4 15 4’JA, 

12 26 8ft 

_ 174 4% 

_ 738 6ft 
_ 2100 9 
_ X Vu 
_ 5S69 6ft 

- 57? * 


Xft Xft —'A 
10ft 10ft * ft 
lft. 1% _ 

12ft 12% -« 
25% 25ft * A 
3V6 3% *b 
23ft 23ft — b 

7% 12 Z 
6 6 — % 
2 A 2ft Mh 
13b 13ft _ 


3% 2ft * Vu 


2ft 2ft V Z 

» g Jih 
Sft Sft — Vh 
17V, 17b — % 
4iVu 407u —ft. 


c 



a*J . 

4ft 4ft _ 

iT ^ -ft 

Zx 6(2 Z?: 

'%, Oft -Vm 
11% 11% *W 
169* lAft _ 

§ % XV, —A 
27 — % 

3% 3% -V* 

!ft IB! 

*!! 

12ft 12ft -ft 
19ft 20 -ft 
7b 7ft -ft 
6% 69, _ 

8b BA _ 


8*6 8% -b 
ft *V» -ft 
16 16b - ft 

Sb 5ft -ft 
7ft 7U -ft 
9% 9% —ft 
4% 4ft - 
6% 69h _ 

4% 4ft -ft 
2ft 2ft — ft 

A ft z 

7b 

2ft TVu _ 


- 30 


17% 11ft BAT 5 .47 e U - 

02b 70*4 BMC _ n 

75 19 BodorM 33 3.1 16 

lift 5%0OtAr - - 

5b SftBOUw _ a 

23ft 19ft BanFd 1.01 e 80 17 
2Sft2lftBTcv7%mjg BA _ 
76% 21 ft BT CV7% 1.90 U - 
V, VeBOTTVHI 
2ft IVuBonynSh 
Wbl4bBoiYU> 
lVu ftEwisfr „ _ 

70ft 5V, BCryRG S _ 34 

18%.10%BovMea JO 1.7 32 
4’VuJ'VuBcydu ~ - 

7U3"/ y BSHKpi*l _ _ 
36ft 79% BSMRK n 2JH 6J - 
2% lftBeardCo _ - 

3v u ftBeknoc 
Mb 15 BertChE 
Sb dftBwEye 
104 8?%Ber«Ca 
16ft (ftBotawdl 

n% 19%Bm££u 

tot is££i 

15ft 11 BlkBlOO 

is iiaKSiq 
IP hllbWLKl 
15 ribSma 

30 A 20% Blew no 
4lftl3%BtoumA 
i«ftl3%Bod(Se 
Mb BWBawVoi 
»%17%Bow(A 
sb IWBowmr 
78% 17% Bovine 
9b 7UB«rf*E 
l?W 7 ft Bremen 


— ■ ““ Zy? 


17% 79% 

23% X% — A 
5*4 S% -ft 

JVi 4% - 




- 19 


Zlb - 
_ XV. — % 
*6 ft — Vu 
lOft 1 ■%,—%. 
30b 20*6 — % 
V* Vi *% 
18ft 19 — b 

17% 18 -ft 

4b 4b 

tot' : 

ft Bft, - Vu 


2 DOS 2L4 


M -'t*h-S 


ar 13 fi 


'ft 0 - 


. . □ 6lB _ 
J9o 4.7 - 

5S S3 fi 

JO U74 


1J4 8J 


J2 4J 13 

J6 17 9 
44 7J 1? 


.... 32 IJ 17 

4'Vu IftHrWldVW D5P 1.1 




dVr, 2YuL.._ 

3Vu lUBuimn 


IX 7J Z 


7b 

85 » -3 

6 6 —ft 

1b lb —ft 
20% S0*6 ■" *6 
1854 78% _ 

1ft IV, , _ 

11b 11% — b 
lift 11% -ft 
lib lift *% 
lift fib .. 
Xft »% - % 
39ft 40, —ft 
14ft 14% —ft 
lift 11% -ft 
17b 17% _ 

2'Vu 7*4 — Vu 
21b 21 '6—1%. 
Bft 8% —ft 
15% 15% —ft 
4ft 4% _ 

13% 13% _ 

3 3. 

1ft Ift _ 


J0ftl4%CPXCp 
7ft 4bQlPn 

S y, 7ft a M _ 
A avuCMICp 


D40 44 
DielOd 


3% t J ‘vuCX TTErrT 


itft llftCVBFn 
Sft lftCVDFnn 
|//„ ft, CVS 

72 37ftCcbh«n 
27b MbCaoteAs 
1 v, VuCalprOP 
3".'„ lVuCfflW 
lift i2ViC amDrn 
Kb WftCamor* 
12*4 ID CMarce 
259,16 Conoco 

F?g 

14ft I’hCorrrtH 


J3b 2D 


M 18ft 17ft 10% -ft 
52 5b 5*6 5% _ 

154 0 7ft 7*6 —A 

302 6 Sft Sft 

202 lb lift 1b -Vu 


^luljft ISft 15% -% 


2»ii l'V H 1% -v H 
S — V B 

498 S 52% 52% • 1 


2Q 

.9 

7 

41 

21*6 

21% 

21*6 — b 


_ 

20 

b 

K 

b— Vu 



_ 

141 

lVu 

1% 

IV, 

Vu 



. 

14 

13M 

U 

13!* 

»b 

_20 

ID 

12 

U 

X 

70% 

21 — % 

ja 


22 

11*6 

Mb 

lift 

- % 

AO 



14 

20% 

20 

20% 

»% 

X OB 

93 

47 

18 

lib 

lift 

lift 


1.08 

1 M 

,a 

V 

t 

>4 

X 

9 

11 

12% 

Bft 

II 

lift 

Bft 

11 

isb 

Bft 

-ft 
• b 


13 Mam 
High low 3uch 


Dhr Yld PE 1*5 Htoh Lm-LcTestOToe 


13 Mam 
-am La* Stock 


DftYMggMX Mflh LoaLpweQfx J HWI Urn Stock 


I 12 

I Kn. 


Pft tm pe lox Htoh LowLqqrqrpe 


n Mam: 
not Lot Stock 


OhYMjt Mite Htoh LowUeutfCH'x 


UOr YW PE 


Wph LwrLiABlOYx 


SJ» »■« S 11 g 
Z _ 706 

M 2.1 19 IX 
140a 7.0 

_ 13 
D8 J 11 


% 


8ft 4»ACenrTcr» _ _ 284 

2^5l7V^^Sfc : n ,, 1J0 7D Z JP 

fl 40bCnSprD 2.00 Jd _ 3 

ft 7 OvOn 461 8.1 _ 91 

9ft SftOwdAl _ X , 7 

S% 1 QlDavA _ 40 145 

5V, TYuOiDme _ *0 44 

M%13 QjpEn _ 17 30B 

28 lTftQwIMed _ _ 3462 

14% 8 Chfpwr .11 J It TO 

f b 6 OwySIt* _ 918701 

ft 25ft amv Ida 3D 12 1 

%13bOAef _ _ 70 

A 24 Chflrtfpt 1J1 74 _ 43 

7ft 3fta>0es . „ 17 IIS 

29 TCb gi^ 1J0 63 _ 


ib ib, 
20ft 20ft 


1^ 


z 

xfcztt 

22b _ 

13& ZIft 

ra:?: 

30% —ft 

1 ?* z 

to** 
8% — % 


.160 33 


<htS 


X 4% 4% 4b — b ’Vu 
if 12 ft 72% 12b —ft 15b 
20 2V U 2n<u 7*, -Vu- % 


73 


Z * SS 

.10 Id 14 404 
_ 34 72 


z“ \P 


_ 13 


D U 9 


9ft AbOZEST 
8*6 (JJGtthe 
44ft XbOeaC i 
5 ViCftig 

8% 6 Coa5® 

7ft lftCopnOm 
2214 13b Cow .. 

25r%, 1 6'AColA pfAckZJO _ _ 

10U, TbCoIREJ 10.15c _ 7 

10*6 7*6Co4uEna J4tl0J 11 

7% 6ftCmdAan die 4D _ _ 

25V, 12%G uimMi _ _ 10 

2B’A OACanvrpi 2J01 _ 10 *24 

9 AftCnvsfE _ M 6 

T-’« 1 ACarNGn _ 154 

ISA A CCBcshn 25 U - 100 

17ft 12ft ODSS 66 41 258 176 

aft 13 CrnCP a _ 16 14 

21*613 C«nCr .12 ,7 15 80 

Sft TbOiHcAm _ _ IS 

27% 20% Crystal _ _ 2 

179h 12%QAtce D4 4.1 _ 61 

3V. 2bCUSimd _ 13 5 

Aft wcvcomn _ - 5X 


to -ft 
ito"* 


12% TftGahnai 
IBb 

toftuiSSn 

Sft 1*6GaytC«vt 
20% 10%Gdmsc S 
10% 7 GnMicr 
13% 8ftG«7vDr 
26ft lyViC ^SS, 
17*6 llbGtcW^ 
19ft 14ft G(c*n» 

4% JVuG&rabi 
I7ftl[ftg*5nvn 
14ft 6 Sobimk 
3% lAGoVnaeo 
6ft SftGotdcpA I 


.»% —ft 


.10 1 J 
40a JJ 


I 5 ? 

S H 

Me 2d 


_ 22 3 Mb 

L6 « 218 ISV, 

12 * 26 V* 

- . ~ it rib 


%8A5R 

jdSgt M 

TnSllCM^IEn 43a 6.9 
3n 

to ROSSo 

31ft 21 A Media 


1444 

24% 24% Z4S 

7 7b 




B 


332 


u5 12* +» 


m 15-3 




9b —ft 
1 816 _ 

1 43 -ft 


75b — % 


T' i «• 

IS 7AGtdwSam 
X XVSGcrHypp 

14». 10% Graham 

3ft IftGranog 
7% 4AGrenm 
7 3ftGmTWn 
22 . 


497 14% 
IX lb 
51 5*6 

5 U6A 
75 4ft 
la V„ 


. .MbAiratOP 
AftSMuMocAk 

2% UbJT 

IM b? 


.12b iS 

.15# jf 


32 19 





w .. 

37b Xft -ft 
lib 12. _ 

■ft Jft — fi 

27V, 27% —ft 

lb 1*6 Z 

fi KUfc 

Irth 14V, _ 

lb 


5ft _ 


!3 


.9V, 4*60 
lift 4M0 


72 3.1 


846 Sft -ft 
22% 22% —ft 
16% 16% —ft 
A A +b- 


16% 1S’A 
16% 16ft 


16*6 I Aft 
Zft 2ft 
25V, 25% 
15% ISA 


25*6 - 

2AU - 

to da 

to z 
6% - 
12% —ft 
4*6 *% 
6b - 

i^-« 
1SW — % 
16A -ft 
M% —ft 
2% —ft 
25** - A 
15*6 —ft 
2V, — Vu 

1ft 


5% IVui 
4J6 2%l 
3% 2*hl 
5% y/u 

12ft 4b 

8U 5*hHMGDof 
8% 4AHMG 
9 AAHoJEP 
3% TVjHoilHty 

tf'WSSSSX, 

7b JbHaneOr 
r* »HmvOir 
■Vu VuHotwtS 
l'%» dj.Haken 
5 2ui,Hartvn 
Mb 5b Herald 
21% _ *• Harvard 


.47 e SD _ 




fft-ih 


ID « 


4D«e34d 


Z fi 


S7t 7.1 28 


5 

h 15 .« 

ss « :S 

3% 3b 

to to A« 

15 S Xft 

7 2|J 12% 


% 

totoS s s 

0b 7 Moot* 

13 B MooaB _ 

15H PtMMftl _ 

3 lbMoranF _ 

3ft IVuMS^PWt 
7 5AM5J96WT 


’Sitozg 


12* 


« 8 - 
AM AM _ 

13 »ft -ft 
10 i5 


12b AbFfttSvx 
9ft 3bPraWn 

"ft Wot 

73 A 21 PrpdLof ZAO 
Bb 5 PresRA 40 
4%PWRB 

7V% 5ft Proper 

3*6 2%Prvuna 

17ftl4APbSt7 
20b I7ftPbSt8 
30A15%Pb8t9 
18b 15 Pb5l0 

16 HU 

14b 1 
lift 1 


s . 
11 ^ 




F 


%'RMSS? '*■ “ 

lift 8% Muni In 36 U 

to 
fi* 


JM tf- 


1% >VuOi tnd 


Sft IbDdujTatl 
2 ftDOaJtwt 
Bft A DaniHd 
Aft IVuDatamt 
10b (ftTMoram 
TbTVuDavstr 
4 IftDavst wt 
8ft SbDaxur 

13% 7V,I3econit 
Bb 5’ADetElC 
25b 21 DdLabi 
Z7V, ITftDevnE 
5% 2’Vu r 


Zi# A 

_ - 149 


_ 10 
J4 II f 
431 6D IS 
26 ID 13 
.12 J 26 
_ IS 


762 

145 

12 


9b _ 

19% 9ftl 

70 2A( 

9b KDivCom 

10 b 4%DanTlC 
16% 11 SrP ptaa 


_ 20 
_ 34 
_ 17 
_ 11 

1J7 Z * 
32 7.0 71 


_ - _ ■■OU7fl""» 

l^h 9%DrVtNY 


dfa 7D Z 103 


2*6Ducom 
11*6 SftDwptex 
A Ptocamn 

4 1 A ra M 

48V,37bBm^'p7 


JO 6J - 


1%, 1JA. IV, . - Vu 

2% 2 ft 1ft — Vu 

ift ib ift— vu 
7*6 7% 7b —ft 

3*6 3 3*„ -Vu 

4% 4% 4ft _ 

4ft 4% CVj, — Vu 
2 ib lull, _ 
6% Aft Aft— ft 
47 lib 11% lift— % 
64 Aft AA Aft - ft 
16 25 ZVu 25 -1ft 
70 Xft Xft Xft -ft 
IS 4% 4b 4% _ 

514 1ft IVw Ift, — Vu 
31 3ft ?■ 3ft -fu 
X 17 16% 17 -ft 

It 7ft 7*6 7% — % 
27 1ft 1 IV. -V. 
10 10, 10 IB 

40 11% lift nu -% 
1 15% ISft 15b -ft 
37 8% flft Bft 4ft 
“ 9% 9% 9% _ 

9% 9% 9ft —ft 

4% 4% 4% _ 


19ft 10%t..__„. 
4% ftWthPro 

ftp 6 


B^HamloQ JO a — 

all jduHaWTCn — 

1 S'm l^irttfUncn 1J9 94 

?7 ^ ’z 4 

16b Sb Hondo 

14% BVjHoOOHI JO 3D 


14% SftHooeHl 
% VwHdl wtS 
,3b 1 HouoSto 


« to * ¥ ‘ 

a as* 1 - 

to ’Sft^S 

14W - 

PI! » +s 

ig* 


lib SbMunvst 
ISbIlftMunAZn 
V, lBftMynrtnd 
ft73bW=C_ 
AVuMTHCom 

^ tew. 

10ft MhNWJOTS 

J& 


* r 4 

D7» 4d 


= 5 IS 


FA 3 ICNBio 
12% rftt&t 

4Vm 2 Identlx 

38*629 H |<t£^'b. IS 
jobuft- ~ -*■ " 

4% 1 aril 


k-J-K-L 


Jl% eftmoten 
"lnetMkl 


tl 

129 


.5% ift Jft —ft 


36 liVjj Mu lVu — % 


11% 9% 

14% 0*6 Indian 
25% TftlnMcm 

.8. JftbferOfa 


- ,s " s n 

S z 

Me72 - ^ 

- Z » 
.120 Id 5 AS 


t 




aSSlBbNWfC 

" 

13% 4b 

17*6 9ft! 

29ft 22 *6 NY Tim 

l?b 

9 4%NAAdvn 

15ft TUNAvSc 
13% 7%HCdOo 

.7% SftNumac 

l5*6MftNftj*f 


to to :* 

S -- 

19% lto "+Vh 

to to-g 

20W 20% — b 

toto + + 'fi 

6b ib 

to to-« 
irj f z 

77 27% -ft 



16% He -(( ■ 
igi isb _ 

]Fir + 5 

i» i» —% 


VlDHTTahOnds „A42 

»io T7ur«> — 47 

, T2ftTh*rR« n ..lie 1.1. 

■ 11 ThrmDtf —erf 

I z 3* 
eraser „ z §o 

h tMSSP 421 ? ff 

. 'bTSS* — 

Sips, 


94 19*6 19 19b -ft 

10 14% 14ft 14% -ft 

33 fib X ZS — b 
TO 8 .7% 0 -ft 

& -14%. U 14 



— V, 


to » -G 

to 3'$-* 




iso id -a 


V . 37% 

FSS 

43 43 — b 

Oft Oft _ 
5b 5% -b 
' AVu -l 




iVfiiS 

2% n% _b 



J* & fa 


to to +,i 


530 6J 

nfi°S 

S2 fd 




Hft 




]to to t* 


8% 

1ft* 

6b 4 . 

¥ v **$5£c b 


_ 15 36 

TrMIKfL _ 112 

iTtBA QOS MO S3 _ JO 

D5a 7d _ » 

- - .3 


17% 12% 12ft -ft 

-v 


3ifi 

■ «*154 


to- 


730 S3 


28% llbRewmi JO* z? 

to toSKte. .v z 


3 » 





MhRsrtm 



1JD 14D 


3^ 




1 


■0*943 •- C Ift, 


I*! 


Z^ 


t » tosr - is m 3 

JAb ld ^ T2Q 
|t 6 J Z 10 


ABb 73 
Die 2d 


Said 

36 AS 


ft 


- i3 iso IS i I 

J6 33 10 3 21% 21*6 21% — % 

32 15% 15ft ISft _ 

7 37 36b 3£*h -b 


% .■Hob,*" 30 * 


DA 3D 12 
7.75 *7 _ 


4%1"A,I 
7% i . 

_ . 7%a*W( 
47% 17% Elan _ 
X% KftEJanwrt 
JiVi 20% Eton uh 
10b AbEMoraa 
Bft 2ftSdnar 
9% 8%EU%tti 


D7 J 77 510A 11% 11% lift -ft 
— 35 lift lift lift -ft 


Xft ZSftENSCM 
19b OftENSCOs 
13% B6BW0« 
6% JvhEfWTTC 
Zlb 7ftEnzoBi 


JOB 2/ 10 „ . . . 

- - 5 2ft Zft 2b — 

„ 65 24 7ft 7b 7ft —ft 

_ - 2J5 tlhdl'Vu T%— «W 

_ » 344 X% 33b 34% *% 

- - 10 19*6 19% 19ft -ft 

_ - 31 24% 24*6 24b -ft 
_ 21 27 9b 9% 9b _ 

_ _ 43 4% 2b 2% —ft 

D8e 5J _ 60 8% 8% 8% - 

_ 5 30 6*6 6b 6b _ 

1J0 4D _ 388 33 Xb Xb— 1 

_ _ 3751 18*6 18Vu 18% —ft 
10 7ft 7% 7ft _ 


3 




3 ® to to^-“ 


MU 13! 

ito toggss 

lSftlObEquudl 

13*6 SftEfctLvA 
16% 6UE1ZLDV 
Tv. ftEvrJenn 
21 IflVEm 
36U Xft Ptdjincb 
7V. 4ftFeetRr 
is 7ft Fa lean 
39% llftF*rBd 
79*6 61 ft Firm 
19% l7bFftlFh! 


2J0 1&2 52 
1D0 162 - 
1D0 1AD - 
D8C 44 _ 


3*6 ( Vi 8ft 9*6 -ft 
710 17 I6U 16b — *h 

10 1510 15 15% -ft 

30 9% 9% 7ft -ft 
2 ID 10 10 

X Uft 14 14% -ft 


6% iVulnFnrwt 
13% 7%lnlLc4ry 

3S» 

6ft 3% IRIS 
Ift ft hit Ted 

b V-tntrsr Wt 

38ft 14ft IvaxCp 
10ft Abjcdaten 
lift 4bj«t8efl 
13. Bft Jeneint 

* JS* 

i30*, 

lib Aft-.- _ 
lift iViKVPtl A 
S% 4 KautHW 
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z r J 


= fi 


Die J 


« ft : 
.»% ID 

iS 

2% 

zo nrfh -fi 

its 

4 * »dt 


lSftl 
14% 1 
15b 
75% 


■ i nmurK 


I3ft —ft 

'M 

tozxs 

7*6 -ft 




- 4 


1... 

10% 

iim 

12b 

12b 

m 

!to 

12 % 

Ito 

ito 


IIM III 
11% 111. 
rib lib -ft 

12% 12% -b 
12% IZVC 
13% 129 
11% lii _ 
ITA IZb -ft 


Si-1 


.We 


JM A 


z z » ta 

- _ 73 7% 


•18B 42 10 


uS -*S 

15V, 15b -S 

H* J 1 '* +¥• 

to 9b “5 

•Oft 40ft 
6b 7b -U 
Mh 7% -ft 
*b 4% —ft 



S JOD 3 
AMU 
B JO I0D 
Sys _ 


» ^SUSfc 


DO 4D I? 
J8e 4d 9 


71 -* -^Fto-% 


| 14% 14% 


{ to tossa 


7*6 4%HCntTl 
J3%TO FjtCDy 
164 lXftFTEmp 
lSbl3%FlFAM 
10% MhFtlbcr 
UK 7%fiscnp 
9V, JftFJonten 
a., lAftFlePUt 
MVifibFWlck 
T2 Mb Fluke 

WBBf 

4% iWRr 

to totoBS, 

Bb SbFrkAdvn 
6% (ftFrkREn 

& ?bSEiS, n n 

iv, aear 

Bft SbFresntob 


_ 4% 6% 4% -ft 

JBe 3.7 11 H ft III ft —ft 

_ - X % U ft -Vu 

X 2.1 13 la 17*6 17% 17Y, *% 

D4 10 15 8 Xb 32b Xb — ft 

_ 21 561 6Vj 5% 6% -*6 

_. .. 72 9 9 0 ^ 

_ H X 27% 27% 27% -ft 

120 62 - 0 76 75% 76 _ 

„ _ 300 14% 16% 16b — % 

die ID _ 236 10M 10b 10% —ft 

- (J _ TOP* 10% 10% We 


D9 0J 
.10 Id 


JO 2D M 

** at 


Z s 

1.16 6J 13 
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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JULY 23-24, 1994 


Japan Warns 
China Not to Use 
Its New Satellite 



Page 13 

asia/pacific 


Raters 

TOKYO — Japanese offi- 
cials accused China on Friday 
of violating international regu- 
lations by launching a satellite 
into orbit near a Japanese one, 
and they threatened to take 
“appropriate measures” if the 
satellite’s relay unit was 
switched on. 

An official of the Ministry of 
Posts and T dccommunications 
here said that t ransmissi ons 
from the Chinese Apstar 1 com- 
munications satellite, launched 
Thursday despite Tokyo’s 
strong protests, would interfere 
with a nearby Japanese relay 
satellite. 

“We’ll immediately take ap- 
propriate measures if f!hina 
switches cm the satellite’s tran- 
sponders and causes transmis- 
sion interference with our satel- 
lite,” the official said. 

He declined to elaborate. He 
said the Chinese satellite was 
expected to start transmittingia 

- about a month. 

- Japan charges that Chinn de- 
fied rules of the United Nations 
International Telecommunica- 
tion Union, a 182-nation body 

“Because Japan bad^pdaced 
its sateffite earlier than China, 
the international rules oblige 
China to secure consent from 
us, but there has been no action 
whatsoever from China,” the 
Tokyo Posts and Telecommuni- 
cations official said. 

The Apstar I, owned by the 


Chinese-controlled APT Satel- 
lite consortium based in Hong 
Kong, has contracts to carry 
television signals for Western 
media giants. 

• China said it was placing the 
satellite at 131 degrees east lon- 
gitude, above the northeastern 
tip of <T*ina, between the Sa- 
knra 3a satellite .used by Nip- . 
pan Telegraph & Telephone 
Co., which is at 132 degrees 
east; and Russia’s Rnnsat, at 
130 degrees. 

Since May 1993, Japan has 
been asking China either to 
change the Apstar l's planned 
position or refrain from tiring 
band widths used by Sakura 3a. 

Phina is p ramraing its satel- 
lite launch business as a cost- 
saving alternative to more ex- 
pensive systems in other parts 
of the world. The Apstar I was 

r t into space by a Long March 
rocket from die 
space center. 

Among customers for the 
Apstar l are Tomer Broadcast- 
ing System’s CNN, the spons- 
caster ESPN Aria and Viacom 
International. 

Also on board are HBO Asia, 
Discovery Communications, 
TVB International and Reuters 
Televirion. 

The Japanese-Chnaese con- 
troversy raises some complex is- 
sues for Apstar Vs media cus- 
tomers, which are trying to gam 
exposure in Aria equal to that 
of the region’s industry leader, 
STAR-TV. 


For Salomon, a 'Problem’ 

Complaints Pile Up at Hong Kong Unit 


By Susan AntilJa 

New York Tima Service 

NEW YORK — Salomon Inc. had plenty 
of problems to disclose Thursday as it report- 
ed a quarterly earnings plunge of more than 
$200 nriffion. But there was one headache the 
firm did not discuss. At Salomon Brothers, 
the brokerage unit, it’s called “the Hong 
Kong problem.” 

Since March, 10 investors who had been 
served by a broker in the Hong Kong office 
have filed arbitration complaints against the 
firm. 

Among other things, the investors contend 
that Betty Wu, the looker, sold them inappro- 
priate investments not intended for retail cus- 
tomers and that m some cases rite sold the 
securities to investors in the United States, 
where, they say, she is not licensed to do 
business. 

Jonathan Kord Laymaim, a New York 
lawyer representing six investors who have 
filed a gainst Salomon and Ms. Wu, estimates 
that the firm could be liable feu* as much as 
$40 nriffion if a panel of arbitrators roles 
against it, 

Robert Baker, a spokesman for Salomon, 
said in reference to covering potential prob- 
lems from Ms. Wu’s customers: “We believe 
onr legal reserves are adequate.” 

The other bad news for Salomon Brothers 
had already been signaled before die compa- 
ny said Thursday it had a $204 million 
loss in the second quarter. Salomon issued a 
warning on July 6 that the quarter’s news 
would be bad. 

But for investors who did business with Ms. 
Wu, Salomon’s losses were not the issue. 
Thor concern is that they were sold fixed- 
income securities in late 1993 and early 1994 
that were far riskier than they had been ad- 
, vised. 

These securities included mortgage-backed 
securities known as CMOs, or collateralized 
mortgage obligations. 

In TnarVe+ing mMwiak mailtvt tO the plain- 


tiffs, Salomon Brothers Hong Kong Ltd. said 
the securities were “very liquid* in most 
cases, that they were “very safe" credits and 
that “there is always a bid price for any of 
these bonds.” 

The securities had “no credit risk and no 
market risk,” the material added. 

So it came as something of a surprise to Ms. 
Wu’s clients when they began to get margin 
calls in early March for more cash to cover 
potential losses. The calls, in some cases, were 
for three times the amount they had initially 
invested. 

On March 11, three days after Ms. Wu had 


Investors are seeking 
arbitration after getting big 
margin «»11» for what were 
billed as Very safe’ 
investments. 


sent a message requesting $258, 1 10 from Paul 
Lang, a Hong Kong investor, Mr. Lang re- 
ceived a letter from William H. Heyman, 
Salomon’s managing director in charge of 
retail accounts, threatening legal action if the 
margin money was not forthcoming. 

Mr. Baker, the spokesman, said, “Salomon 
Brothers has a very small retail business limit- 
ed to high-net- worth clients.” Salomon, he 
said, felt that “our diems are knowledgeable 
and able to appreciate the risks of their in- 
vestments.” 

But Mr. l-a gemann said that a sophisticat- 
ed investor would have known to hedge posi- 
tions in these types of securities, in which the 
investors were putting up very little cash to 
make big bets, in this case at ratios of between 
90-to-l and 95-to-l. 

Such a bet leaves an investor exposed to the 
possibility of big and sudden losses. His cli- 
ents did not take such precautions, be said. 


Shenzhen 
Regulator 
Under Fire 

Bloomberg Butinas Me** 

SHENZHEN — Shenzhen’s 
top securities regulator is no 
longer reporting for duty, a 
spokesman for the regulatory 
authority said Friday. 

The spokesman was contact- 
ed after Hong Kong newspa- 
pers reported that Wang Lin, 
head of the Shenzhen Securities 
and Exchange Commission, 
had been arrested by Hong 
Kong immigration officers after 
trying to enter the territory with 
a suspicious passport 

Mr. Wang was arrested early 
this month and sent batik to 
China, where he is under inves- 
tigation. the reports said. 

“Wang isn’t working at pre- 
sent, and you won't be able to 
reach him,” said a spokesman 
from his office, who declined to 
be identified. 

Mr. Wang’s troubles are just 
the latest blow to tbe already 
slumping confidence in the 
Shenzhen market. Prices for lo- 
cally owned shares are in a tail- 
spin, and trading in fordgn- 
held shares is comatose. 

Many investors have blamed 
slack regulation for leaving the 
stock market fiat, so the idea 
that Mr. Wang might have been 
involved in any indiscretions 
will do little to cheer those who 
own shares listed in Shenrfien 

“It’s suddenly dawned on in- 
vestors that playing the stock 
market can be risky, said Ceng 
Jian, a fund manager with the 
investment arm of Shanghai 
Wangguo Securities. “The 
short-term outlook is not good, 
and in the next six months we 
could see some smaller broking 
houses going out of business.” 


| Investor’s Asia 

Hong Kong 

Singapore 

Tokvo 


Hang Seng 

Straits Times Nikkei 225 


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■ 1904 • . 

■ ■ 1994 


1994 


©cchangB.--’. 

Index ■ 

Friday 

Prev. 

% 



Gloss 

Close 

Change 

Hong Kong 

■Haig Seng 

9,15239 

9,117.66 

+0.39 

Singapore 

Straits Times 

2,m2Z 

woe. 51 

-0.42 

Sydney - 

ASOrCfiharies * 

2.052.50 

2.049 20 

+0.16 

.Tokyo . 

• Nikket225 

20,452^0 20,622.90 

-0.78 

[ Kuala Lumpur Composite 

1,000.46 

996.38 • 

+0,41 

Bangkok 

SET 

1,348.05 

1.342.01 

+0.45 

Seoul 

GomposHe Slock ■ 

939.08 

935.35 • 

+0.40 

faipel 

Weaned Price 

6^436.60 

6.577.70 

-1.23 

Manila 

RSE 

2,708.15 

2,648.54 

+2.25 

Jakarta 

Stock Index 

459.06 

461.14 

-0.45 

New Zealand 

NZSE-40 

2.026.27 

2.03&20 

-0.49 

Bombay 

Mafonaf Index 

1^44^3 

1^43^7 

+0.06 

Sources: Reuters. AFP 


Inlrrru:»ffu1 HnaU Tnhunc 

Very briefly: 


• Singapore Airlines Ltd. wifi move part of its accounting opera- 
tions to China to beat rising costs and a labor shortage. 

• Fanuc Ltd, which makes numerical control equipment, raised its 
pretax profit forecast for the first six months of its financial year 
to 1 1 billion yen ($111 million) from 9.8 billion yen; the figure is 
still 6 percent below the year-earlier level 

• Telstra Cbtp^ an Australian state-owned communications com- 
pany, plans to spend 267 million Australian dollars (S197 million j 
to expand International Communications Corp., a Philippine tele- 
phone company in which it has a 40 percent stake. 

• Rank Commercial Ltd said it would drop its 501 million 
Australian dollar bid for Foodland Associated Ltd. if it cannot 
persuade a federal court to lift an injunction blocking the deal. 

• Sapporo Breweries Ltd raised its pretax profit forecast for 1 994 
to 1 1 j billion yen from 1 1.1 billion yen, saying hot weather was 
causing stronger-than -expected demand for beer. 

Bloomberg, A?. Knight- RtJJcr, AFT. Reuters 


Clampdown in Hong Kong 


Bloomberg BusinessNews 

HONG KONG — Licenses wffi be required 
for tbe retail sector of tbe foreign-exchange mar- 
ket starling at the end of September; a regulatory 
official said Friday. 

The executive director of the Securities and 
Futures Commissian, Michael Wu, said the ac- 
tion bad been taken in response to a flood of 
complaints. 

At present, almost anyone can set up shop in 
Hong Kang and trade m foreign exchange. In 
fact, securities officials said they are not even, 
sure how many such operations mere are. 

■* “The range of abuse,” he said. **was from f]y- 
, by-nights — companies taking client assets and 
dosing shop, turning off client accounts, abuse 
of discretionary authority — - to outright 'fraud!” • 

Under the new regulations, all telephone 
transactions will be tape-recorded to make com- 
mission investigations easier, and there will be an 
arbitration system. 


STEEL: Revamped and Prosperous U.S. Industry Sets the Standard in Efficiency and Cost 

company in Exton, Pennsyiva- 


The commission wDl impose education or 
work-experience requirements on applicants 
seeking licenses and demand that carfi company 
nominate at least one “responsible director" with 
at least three-years’ experience in the foreign- 
exchange industry and three years in senior 
management 

Tbe larger, wholesale side of the foreign ex- 
change b usiness wifi be exempt from the new 
rules. This inehidase already licensed financial 
institutions such as banks, Mr. Wu said. Also 
exempt wifi be foreign currency instruments, 
such as options, which are listed on a central 
exchange. 

The commission warned potential customers 
wanting to trade an die retail level that, until the 
new rules are in effect, “extreme care will have to 
be taken” to avoid losses to “unscrupulous trad- 
ers who might have to ’dose shop’ ” if their 
license applications are rqected. 


Continued from Page 9 

ened by the losses and debt tak- 
en on during during tbe 1980s 
and that steel has huge pension 
liabilities that have yet to be 
financed. 

The ’‘voluntary-restraint 
agreements" that limited im- 
ports in tbe 1980s expired in 
1992, bat the industry has con- 
tinued to try to Until imports by 
fifing complaints that many im- 
ports are being sold at less than 
thdr cost of production. 

“The American steel industry 
is, on average, the most produc- 
tive in the world in terms of 
man-hours per finished ton of 
sted,” said Christopher Plum- 
mer, a steel analyst with Re- 
source Strategies, a consulting 


nia. For every ton of steel pro- 
duced, American steelmakers 
expend 53 man-hours, com- 
pand with S.6 for the Japanese 
and Canadian industries and 
5.7 in Britain, France and Ger- 
many, Mr. Plummer said. 

But this progress has come at 
a cost to many workers. The 
industry’s employment in the 
United States peaked at 
650,000 in 1953. Four decades 
later, the total is close to 
175,000. Some companies, in- 
cluding U-S. Sted, have five re- 
tired workers for every active 
one. 

During the plant’s peak em- 
ployment at Gary Works in 
1 953, as many as 30,000 earned 
sane of the highest wages and 


best benefits in blue-collar 
America. The wages were still 
good, at S2937 an hour, in 
1992, but far fewer were receiv- 
ing them. 

The cavernous buildings here 
seem almost devoid of humans. 
Employment totals close to 
8,000, but few workers are on 
the plant floors where solid 
steel is processed. Steelworkers 
today run plants from comput- 
erized. air-conditioned control 
rooms. 

The industry’s geography has 
also changed. 

In tbe traditional American 
steelmaking regions, primarily 
the Mbnongabda River valley 
near Pittsburgh and along the 
Mahoning River near Youngs- 
town, Ohio, mills were built to 


be dose to the sources of iron ore 
and metallurgical coal 

Today, American steel’s cen- 
ter of gravity is in northern In- 
diana. 

Companies that once boasted 
of makin g every sted product 
from “nails to rails” have con- 
ceded low-value items such as 
concrete reinforcement bars to 
foreign steelmakers and tbe 
small U-S. mills producing steel 
from scrap. 

One of the key technological 
changes for American steel- 
makers has been the installation 
of continuous casters, machines 
that turn molten metal into sol- 
id slabs that can be handled and 
while still red-hot. 
previous method, in use 
since the earliest days, was to 


pour molten metal into individ- 
ual molds, wait for it to cool, 
strip off die mold and rebeat 
the sled for processing. 

In recent years, the United 
Sledworkers union negotiated 
contracts that gave the compa- 
nies more flexibility in assign- 
ing workers. In return the union 
has gained, among other things, 
the right to name one of the 
company’s directors. 

Together, continuous casting 
and greater labor flexibility 
have produced sizable cost re- 
ductions. The Economic Strate- 
gy Institute, a Washington- 
based research organization, 
said in a recent report that the 
labor portion of steel costs had 
declined from $262 a ton in 
1982 to $161 a ton in 1992. 


INTERNATIONAL CLASSIFIED 


PERSONALS 


MAY W 1MD HEUT of Jew to 

odorad. flfarSed, Vwed aid prcienwd 
through out toe world, nwodto- 
«*er/Soa*d heart of Jm pray far 
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pray far us. 5o« Jude hdp of the 
fopdss,. pray far «. Anwi. Swjhi 
prayer nna troei a day by *» «■» 
day your prayer uM be jsreyrad. lt 
hot now beer known to W. 


announcements 


Attention visitors 
from the U.S. I 



If you enjoy rearing the IHT 
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Same-day defivery avcflaHe 
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JUCS ANONYMOUS &*£* 

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MOVING 


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FOB A REE ESTIMATE CALL. 


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452 31 11 
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Saturday-Swiday. 

July 23 - 24 , 1994 
Page 14 


FIRST COLUMN 


You Are 
What You 
Dare to Risk 


Bond Markets Botto 


“ i m pni rw i — TT iTriniwir rnn i Tt i— w_ . 

_ V .ri-- * ■ 


Totat .items. U.6. deter terms, aver one month to June 30JS94 


By lain Jenkins 


Y OU are 46 years old, married 
and in full- or part-time employ- 
ment. Your income is 550,000 
per annum, a reasonable com- 
pensation for the degree you spent four 
years or more at college to obtain. You 
are, as you have probably guessed by now, 
a statistic. 

More precisely, you are a typical fund 
investor — a refugee Erom the pa»es of the 
new fact book published by the U.S. mu- 
tual fund industry’s representative body, 
the Investment Company Institute (IC1). 

While data dumping of the “most com- 
mon characteristic” variety renders the 
ICI’s new missive far from a compulsive 
page turner, the book provides dearly 
written and useful information about the 
slate of today’s fund industry. 

Easily the most interesting chapter is 
“Shareholder Perceptions of Investment 
Risk.” The ICI conducted its own survey 
into investors’ attitudes regarding the 
risks inherent in mutual fund investing, 
and it is pioneering research. Indeed, al- 
though regulators require all kinds of 
warnings to be slapped on investment lit- 
erature, it seems that few investors really 
pay attention to that bald statement — 
“Investment values may go down as well 
as up” — until they see their own invest- 
ment begin to go down. 

The ICI survey essentially classifies in- 
vestors by the amount of money they are 
prepared to lose. It reveals that 16 percent 
of fund investors are of the “daring inde- 
pendent” type. They are risk-oriented and 
more likely to invest in shares than bonds. 
A further 16 percent are daring, but only 
with money they are prepared to lose. 

The biggest single group <29 percent) of 
investors is “conservative disinterested. 
These people do not consider playing the 
stock market exciting, but are more share- 
than bond-oriented because their primary 
objective is long-term capital gain. It is, in 
our view, these people who are the most 
likely to get rich. 


O VER the past six months, bond 
investors have been battered 
and bruised by the market’s 
steep falL Few things like it have 
been seen since the oil price shocks of the 
1960s. But for the first rime since Febru- 
ary, an upturn in prices is causing a new 
note of optimism to creep into the market. 

Behind the rally is a ferocious battle for 
the “hearts and minds” of the investment 
community. In one comer are the “bulls.” 
who say that inflation, which initially 
spooked the market, is nowhere to be seen. 
In the other are the “bears,” who see 
inflation lurking behind every number. 

Buying in recent weeks has been ner- 
vous. Bond investors no longer know who 
or what to believe. They don’t want to 
miss the bottom of the market but, equal- 
ly they don't want to get sucked into a 
“bear market rally” which will collapse 
a Min in a few weeks time. 

Terence Prideaux, director of Kemper 
Investment Management in London, is 
convinced that the rally is part of a re- 
assertion of fundamentals. He believes 
bonds have become cheap. “It makes me 
angry when I hear people pointing to 
inflation as the explanation for the bond 
market falls. Where is this inflation? 
Economists can’t And any,” he says. 

Mr. Prideaux pointed to consensus eco- 
nomic forecasts, which have been revised 
in recent weeks, and which show little or 
no pick-up in inflation, to defend his view. 

North American inflation is expected to 
stay unchanged at 3.2 percent for 1995, 
while European inflation is expected to 
come down by 0.1 percent to 2.9 percent, 
analysts say. Only Asian inflation is ex- 
pected to increase slightly. 

But Nick Knight, market strategist at 
Nomura International in London, warns: 


in interest rates that prompted the bond 
market collapse. 

Since then, better-than-expected 
growth from Germany and a steady rise in 
commodity prices have helped stoke the 
fire. Headlines about Brazilian coffee har- 
vests and soaring coffee prices have added 
to the mood of fear that commodity prices 
might also drive inflation higher. 

The results for anyone owning bonds or 
fixed-income mutual funds have been 
frightening. Total return since the begin- 
ning of the year in local currency terms are 
negative in virtually all markets. Bntarn is 
down 12.6 percent. Cananda 1056 per- 
cent. Ireland 9.61 percent and the United 
Stales 4.95 percent 

But Alison Cottrell, an economist at 
Midland Global Markets in London, 
doesn’t buy the inflation argument: “Big 
upturns in inflation usually come from 
major outside events tike an oil pace 
shock or a currency halving in value, she 
said. “Soaring coffee prices arent it. 


August, but few believe it will spark off 
another bond market sell-off. 

Kevin Gardner, an economist at Mor- 
gan Stanley in London, sees some upturn 
in inflation but says it will not be much: 
“Investors are still likely to remain ner- 
vous until they are confident about the 


W JJ7 3J8 


[2J7 Z83 £79 £76 2J55 


Zlfin 2.11 


JO. m M -1 -53-2.06 -*.73 - 


“The rot seems to have stopped as long 
ith U S. Ti 


as nothing goes wrong with U.S. Treasmys 
again,” Miss Cottrell continued, Howev- 
er; the investor is still cautious about going 
into the market. It takes a lot of courage. So 
far this year, the best poUcyhasbeen to sit 
on your hands and do nothing- 
Key to a recovery in world bonds is me 
United States. The pattern has been for 
European, Japanese and emerging-market 
bonds to exaggerate the trend of US- 

^ nnMilrc hot 


Treasurys. Only in the past few weeks has 
the European market stows 


“Don’t get sucked into false optimism. 

' ’ r bonds,” ' 


M.B. 


“There is no hurry to buy bonds,” he 
said. “The best strategy is to sell into 
market rallies. We are now in a bear phase 
where there are rallies, but they are to be 
sold into, not sucked into. However, ral- 
lies can go on for some time which is 
worrying for the bear.” 

Essentially, the inflation argument is 
that as growth picks up, inflation will 
follow in its footsteps. Then, governments 
will be forced to raise interest rates to 
combat rising prices. 

Indeed, it was signs of rapid economic 
growth in the United States earlier this 
year, followed by the early-February rise 


me tuiuiAi*Lu » nm »»■ any signs of 

decoupling. However, this link could t&Sr 
sert itself if any surprises in U.S. inflation 
or monetary policy are around the corner. 

Nick Stamenkovic, an economist at 
DKB International, the Japanese bank, 
thinks that the shocks are over. “If we do 
see the U.S. Treasury market stabilize, 
then bond yields will fall in Europe, he 
said. “There will be a rally in second half 
of the year, but it won’t get to the level we 
saw in January.” . ... _ 

Equally, monetary policy is unlikely to 
cause a surprise. The market is already 
discounting a further rise in U-S- interest 
rates by 25 basis points. A move by the 
Federal Reserve is expected some time in 


international Bonds 


Page 15 Hard times in emerging martets 
The renaissance of junk 
Nordic countries in crisis ^ 

Page 17 The synthetic rout 
Fund vs. direct investment 


MI. U'armiei 

argument against bonds is “the; high re- 
turn on physical capital.” This isthe re- 
turn that companies can get from in or 
assets. It is expected to reach levels not 
seen since the 1960’s in many developed 
economies, which should boost dividends. 

“The economic environment is telling 
you to buy equities over bonds ” he added. 

But once again the “bulls” have a 
counter-argument. They expect the bond 
market crash and the nse in interest rates 
to slow the pace of economic recovery. 
This could dampen any limited apis of 
inflation, which m turn could give bonds a 
much needed fillip. ... 

“The excitement of the kquidity-dnven 
bond buying frenzy last yearhad the effect 
of bringing forward growth,” said Mr. Pri- 
deaux, at Kemper “Now the increase m 
interest rates may bring about a s ma ll sur- 
prise on the downside by shaving growth” 

Mr. Prideaux said the best value for U.S. 

dollar investors is in Australia, Canada, 
New Zealand, Ireland and Finland. Japa- 
nese and German bonds, he said, look 
unattractive because of the weak dollar. 

Another option for the dollar investor is 
emerging-market bonds. Mare Wa n h a m - 
mer, director of fixed income ai fund 
managers Foreign & Colonial in London, 
says: “A lot of non- traditional emerging 
market investors came into the market last 
year. They bought an overly optimistic 
story. Whim things went wrong they over- 
rented and de-leveraged. Now, there is 
some good value out there. 

For the non-dollar investor, the best bets 
may be “core” European countries such as 
Germany, France and Holland. “There is 
s till a lot of uncertainty, but the key is to 
buy markets that lode out of synch with 
their fundamentals, such as Germany,” 
said Nigel Richardson, head of bond re- 
search at Yamakhi International. 

“Overall,” continued Mr. Richardsdon, 
“fundamentals are beginning to re-assert 
themselves. At some stage, the rally may 
run into profit-taking, but reality does at 
last seem to be settling in.” 

That view is shared by more and more 
analysts, which suggests that the worst for 
globk bond markets may be over. 







Total rfe turns :cca» currency terms, evor one month to Ju-.e 3o. <9. 






- “ 

JO -JO -.VS -.42' -.43 Vi 



Mr 


ap,- 

3 * 2 ; 



. . 

Soume: Kemper investment Management 




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be safe in the knowledge that there's no chance of that 
big one gening away? 


l »imp sum investment starts from as little as U.S.51,000 (or 
equivalent in any freely convertible currency), and the 
Fund can be linked to our Monthly Investment Plan from 
only U.S.SlOO a month. 


WHY INVESCO? 


By investing in the INVE5CO Premier Select Global Bond 
Fund, you can benefit from our wealth of experience in 
world bond markets. Part of our Premier Select range of 
Luxembourg registered funds. Global Bond Fund is 
designed to provide capital growth from an internationally 
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The Fund i$ denominated in U.S. Dollars and the income 
from the portfolio is ’rolled-up’ to enhance the value of 
the Shares, as is any premium derived from writing 
covered call options. 


INVESCO is an independent world-wide group with well- 
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the world. Our sole business is investment management 
and we have approximately U.S.S10.6 billion invested 
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For more details on how you can benefit by investing in 
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coupon below or contact our 5ales Support Team. 


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4 


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


Pig* 15 



’ '4* 


^Emermiiflr’ 


By Conrad de AenSe 


Debt Hurt by 'Mature’ Woes 



T P H 2DES of people who 
have bought . emerging market 
bon^ have also bought the the- 

bc ®*^uld nor be 
s^c^tiWe to nsmg interest rates in the 
grctnre m arkets. Economic and political 
apace in much of the 




; « v .' 

Vi 

:: V'S: 

•r- :1 

'•• -.™. ' * ?! 

* V:"^- 

- v 

^ rr - *' 


drewhere. Or so it was thought. ■ 
Itvrajfad until hie Jsmnny.whcn 
bonds m Europe and the United States 



with them, and hard. 

. Bradys, which are sovereign bonds uar- 
tially baied by USL government paper 
have fallen roughly 20 percent in total 

“tVonla fKJnt - - •*• i < . . — 


•T._ 


* 


•-*» 


bonds would follow U.S. Treasure,” said 
Joyce Chang, a director in the emendna 
markets reyarcfa dqartment at Salomon 


- ' '*-i\ 


■ -‘.'jv . 

JT - ' 




for people theoretically to say there would 
be no nqpact from rising rates on Treasure 
bm nobody really Imew what would happen 
when interest rates went up. It m«V» mote 
of a difference than fundamentals.” 

Actually, it shouldn't have come as' too 
great a shock. Yields on emergin g nioAft 
debt more often than not are quoted as 
torcads over US. Treasury yields, rather 
than in absolute terns. The yield onAmaa- 
can 10-year notes rose from less than 52 
percent to almost 15 percent over several 
months. Hard Worid issues would hot have 
done comparatively worse if their yields had 
risen by 23 percentage points as wdL 

w You can t look at growth in emer g in g 
markets and say They’re mvmim^ put 
your money here, 1 ” remarked E3- 
Ali, a fund manager at Foreign A ryd ^rpa i 
Emerging Markets in. London. “Since 
they’re defined in terms of what they. give 
as a premium above Treasuzys, there’s a 
Hunt to what they can do. Even if the 
spread is the same, it doesn’t mean you 
can’t lose money.” 

She added that Tor the spreads of the 
Latin issuers to narrow. you’d have to have 
a good improvement in the underlying 
credit story.” 

But the pilot isn’t imfrMmg quite that : 
way. The juggernaut of economic and po- 
litical reform in emerg i n g markets, once 
seen as unstoppable, has come upon some 
roadblocks, and in some places, notably 
Venezuela, it seems to have hung a U-turn. 

Venezuela’s president last month sus- 
pended some c o nstit ut ional freedoms, im- 
posed price and foreign-exchange controls 
and pm the banking system undra gouera- 
ment control After tradinglast year abbve 



Source: jjp. Margin 


arr 


70 cents on the dollar, its Brady bonds 
di ppe d below 40 cents early this week. 

“We’ve heard die view that no me has 
really' known what’s going on there for 
nmc months,” Miss H-Afi said. “People 
who say it’s getting better don’t know, ft’s 
reafiy a crap shoot, a gambler's market, not 
an investors market; 

Mexico has been hurt by a simmering 
peasant rebellion in the poverty-stricken 
south, and by the assassination of the rul- 
ing party’s candidate for next month’s 
presidential election, Lms Dcmaldo Coto- 
ao Murrieta. Meanwhile, a political un- 
known, Diego Fernfindez de CevaHos, has 
leaped to popularity, threatening the Insti- 
tutional Revolutionary Party’s 60-year 
hold an power. The result has beat a 
reticence among foreigners to keep send- 
ing in their money. : 

“inflows to the country have slowed 
down a little and th&trade deficit’s rising,” 
observed Elizabeth Morrissey, managing 
partner of tnawmwr international Consul- 
tants in Washington. “However, infla- 
tion's down to single digits. There arc signs 
of life dure, but I don’t think Mexico’s 
going to do anything until the election’s 
over. People want to be sure what they’re 
buying.” 

: Mexico, in a way, is (he victim of its own 
success. The outade world has been de- 
manding political reform, but now that it 
has occurred to the point that a relative 
unknown may actually be elected presi- 
dent, the market is judgsd by some to carry 
too much uncertainty. 


“The political risk in Mexico is grossly 
exaggerated,” Miss H-Afi said. “Mexico’s 
paying the price of bang south of the 
border. In terms of the reforms in place, 
that is vezy mnch on track. This is going to 
be a truly free, democratic election.” 

Although they have done worse this year 
than fuD-flcdgcd Brady bonds. Miss Mor- 
rissey sees neat potential in the bonds of 
“pre-Brady 8 countries. 

“Some of the countries that haven't ac- 
tually signed Brady deals ya are real inter- 
esting,” she said. “As they get finalized, 
prices go op if the deals are seen as being 
‘ far the countries and good for die 
People who buy this paper do it 
because the uurestroctured debt has the 
largest potential for gain.” She said the 
sovereign debt of Peru, Panama and Ecua- 
dor shows the most potential over the next 
few years. 

Some of the best opportunities may exist 
outride Latin America. Miss Chang called 
Morocco “probably one of the best emerg- 
ing market debt stories.” Economic growth 
is m double digits, she noted, while infla- 
tion is running at a mild 4 percent to 5 
percent. She is also positive on India, 
which has a bustling economy, a strong 
domestic capital market and rising foreign 
currency reserves. 

One curiosity in the routing of emerging 
market debt is the relative resilience of 
Eurobonds, a $40 bdlicm market in corpo- 
rate debt dominated by Mexican and Bra- 
zilian issuers. This year, the average issue 
has only lost 7 percent in total return, J.P. 
Morgan’s figures show. 

“Private-sector bonds don’t tend to be 
hit neatly as badly as government bonds 
because the political risk factor doesn’t 
seem to weigh as heavily in investors’ 
minds,” Miss Morrissey reckoned. “The 
fact that Eurobonds weren’t hit as hard 
shows people really hare confidence in 
these economies over the next year." 

Analysts at Morgan expect Latin Euro- 
bonds to do well in the second half, due to 
a combination of political and economic 
factors. 

- “With reduced volatility in U.S. interest 
rates, a redaction in political uncertainty 
following the election in Mexico, and fa- 
vorable medium-lam prospects for rating 
upgrades in Mexico and Argentina, we 
expect spread tightening and rising new- 
issue volume in the second half of the year, 
especially after the Mexican election,” 
stated a recent Morgan report. 


The Money Report is edited by 
Martin Baker 


Returns on U.S. Bonds 

Corpora* ■. ■ CuMMiimm • Ow ***** 



Source: Mommgstar Inc. 


IruenMiooal Herald Tribune. NksIk fcou 


Junk Bonds Enduring the Storm Well 


By Judith Retak 


S HARP rises in interest 
rates, waves of selling, 
and the controversy 
over derivatives have 
combined to make it a miser- 
able year so far for U.S. bond 
investors. But amid the carnage, 
junk bonds — once maligned, 
then marveled at, then ma- 
ligned again — are gaining 
some fresh respect. 

Bond prices fall when interest 
rates go up, and all categories of 
bonds have been hard hit this 
year. Bat high-yield braids, as 
some money managers and ana- 
lysts prefer to call junk bonds, 
hare managed to escape some cf 
the damage, because they are 
more influenced by credit risk 
than by interest rates. 

The average higb-yield bond 
fund was down 2L31 percent at 
the half-year mark, according 
to Monringst&r. the Chicago- 
based, fund data group- But the 
super-safe, top-rai- 
LS. Treasury braid funds 
fared much worse, losing 5.23 
perc e nt during the same period. 

Even more ironic, the riskier 
these junk bonds are, the better 
they have been doing. 

The Merrill Lynch high-yield 
bond indexes show that bonds 
rated BB by Standard & Poor’s 
(the top rating fra bonds con- 
sidered to have a speculative 
dement) were down 2J>3 per- 
cent for the first half of this 
year, while the riskier B sector. 


the largest part of the junk mar- 
ket, slipped only .47 percent. 

The didest sector of all, the 
gro*n> of triple, double and sin- 
gle C- rated issues, actually rose 
5.48 percent rax average. 

“We’re not a bunch of gun- 
slingers," said Bruce Monrad, 
co-manager of the Northeast 
Investors Trust, which is lead- 
ing the high-yield category with 
a total return of 3.9 percent fra 
theyear as oflast week. “But we 
took more credit risk than inter- 
est rate risk.” 

A key point in Mr. Morurad's 
strategy was to put almost half 
of his assets in junk bonds rated 
B or lower, including defaulted 
issues. A third of that was in 
deeply depressed cyclical com- 
panies such as paper manufac- 
turers Stone Container Corp. 
and Gaylord Container Corp., 
and commodity chemicals pro- 
ducer Rexene Corp., where he 
picked up bonds fra anywhere 
from S3 cents to 70 cents on the 
dollar. 

He bet correctly that as the 
U.S. economy picked up steam, 
these firms would be able to pass 
price increases along to their 
customers, improving their cre- 
ditworthiness and makin g it eas- 
ier to pay off their debt. 

Other successful junk bond 
pickers use criteria which show 
just how arcane this category 
can be. “We don’t want to limit 
ourselves to ratings only, "said 
Charles Carlson, who has 
roughly 12 percent of the assets 
in his $40 million Greenspring 
Fund in high-yield bonds. 


One of his best performers has 
been Civic Center Holdings, a 
well-regarded company whose 
reputation was sumed when its 
parent, a natural gas distributor, 
filed for bankruptcy. Civic Cen- 
ter, whose unrated bonds are 
currently yielding 12.8 percent, 
has never missed a payment “If 
it weren't for its parent, they 
would have been an investment- 
grade group,” said Mr. Carlson, 
who adds that junk bonds are 
“misunderstood.” 

The economic upturn in the 
U.S. has substantially reduced 
the risk of default, say analysts, 
making junk bonds less risky. 

“There have only been six so 
far this year, compared to 98 in 
all of 1991," said James Parrish, 
manag ing director of specula- 
tive bond ratings for Moody’s. 
Mr. Parrish said be expected 
default levels to remain low for 
the rest of 1994. 

The improving economy will 
also boost ratings on junk 
bonds already out on the mar- 
ket from “speculative” to “in- 
vestment" grade, predict ana- 
lysts. Mr. Parrish warned, 
however, that the credit quality 
of some new issues is going 
down. That means issuers wifi 
have to sweeten their offers 
with higher yields to attract in- 
vestors, with the trade-off bong 
more painstakin g research in 
order lor potential buyers. 

And where will investors be 
shopping? Mr. Parrish said that 
Moody’s has a positive outlook 
on the home building industry, 
which has been buoyed by lov. 


mortgage raxes, as well as the 
savings and loan sector. 

Ban Geer, who runs the Met 
Life-State Street High Yield 
Bond fund, pointed out that not 
all junk issuers are financially 
shaky. Cable television and 
communications companies 
traditionally tap the high-yield 
marketplace for huge amounts 
of cash to finance rapid expan- 
sion and acquisitions, he said. 

The gaming b usiness is an- 
other example. Mr. Geer cited 
gaming concerns Circus Circus 
Enterprises Inc. and Bally En- 
tertainment Corp. as examples 
of high-yield bond issuers 
which have paid off reliably for 
investors. 


BRIEFCASE 


"l: Mora Good Ntws for 
ZZ: Fund Tracto-Ahoncs . 

" • : There are diligent — some 

say neurotic — traders who 
r " ’ ■ want to do business 24 hours a 
:rz day. Hie Jade White A Co. dis- 

— __ cxmnt brokerage in SanT>iego is 
• r ' ’ offering a way to accommodate 

• - them: Global link, a non-stop 

• i - - fund trading service. 

- -- r John Rekcn thaler of the 

fund-tracking service Monting- 

- - : star reports that Global Link 

- connects buyers and sellerc of 
fund shares any hour of the day 

’ or night. 

- “Customers will be able to 

f--* ; • exchange shares of open-end 

-■ and closed-end funds at what- 

. -r ever price the buyer and scller 

. agree upon,” Mr. Reken thaler 

.? said, “even at a discount orpre- 

jl. • mhnn to net asset value.” 

: ; ff, for example, the Tokyo 

stock maikct were crashing, an 
r \ American shareholder in a Jap- 
an ese- equity mutual fund 
Would normally have to wail 
-■ until the dose ra the U.S. mar- 
ket the next trading day. to un- 
load his shares, if he so chose. 

Using the White service, the 
. < investor would have the crarve- 
nierice of being able to panic on 

a : 


the spot, without having to wait 
all those agonizing horns. 

Emerging Markets 
Plunge Hi First Half . 

. Tbe first half was not a good 
onefra emerging stock: markets. 
A suryey by Kfehnan Interna- , 
tional Consultants showed that 
a number, of the larger ones, 
including many of those fre- 
quented by westerners, had 
largeloasesin U.S. dollar teens. 

In Asia, the markets in Thai- 
land, Indonesia and Malaysia 
lost between 20 and 25 percent 
of their. value in dollars, report- 
ed the consulting group, winch' 
specializes in the newer stock 
and bond markets. The Chinese 
B-share index lost a huge 423 
percent in the half. . 

The wnaTler European mar- 
kets were all losers, except for; 
Hungary, which eked out an _8 
percent increase. In Latin 
America, Venezuela fell 29 per- 
cent, and Argentina and Matir 
co were each , down dose to 20 
percent. Bot Cokmabia had a 
heartening gain of 44 potent, 
and Peru and Chile were up 
more than 15 percent 

The best place to be was sub- 
Saharan Africa, where every 
market rose in dollar, terms. 


Political Tides are Dampening the Nordic Market 


By Rupert Bruce 


P OLITICAL risk is 
hanging like a dark 
dotal over the Nordic 
bond markets. In the 
two most active, Sweden and 
Denmark, looming general 
dectians arc creating uncertain- 
ty and depressing prices. 

The worst case is Sweden. On 
July l,the chief executive of one 
of Sweden’s largest domestic in- 
vestors, Skandia Forsakrings 

AB, said he would not be buying 

any more government bonds ua- 
til the politicians decided what 

Be sector defidL^^^vras^aken 
as a thinly veiled attack on the 
Social Democrats, who many 
say are expected to win in Sep- 
tember's general election. 

Bjorn Wolrath, Skandia’s 
chid executive, voiced the con- 
cerns of many. “Skandia will . 
not buy Swedish (state) bonds 
until sudi time as' the pohti- . 
dans, in a credible way, begin 
to take seriously the accelerat- 
ing state debt” he said. “I really 
do not fed that I have a man- 
date from (Skandia’s) owners to 
go in and buy Swedish bonds, 


considering the big risk that im- 
plies today.” 

The turmoil threw a spotlight 
on the other Nordic braid mar- 
kets such as Denmark, Finland, 
and Norway, which experi- 
enced similar economic prob- 
lems in the 1980s. Since then 
some have reformed more suc- 
cessfully than others. 

Currently, say analysts, pro- 
fessional investors regard the 
Swedish government's rickety 
finances as being likely to stoke 
up inflation. Inflation is a 
bond’s worst enemy because it 
erodes the values of both the 
final capital repayment and the 
interest payments, or coupons. 
There are even nratterings that 
the government might not be 
able to repay debt at alL 

Carnegie, a Swedish invest- 
ment bank, has recently pub- 
lished a pamphlet by Elizabeth 
Langby. an American academic 
who lias lived and worked in 
Sweden, about the govern- 
ment’s parlous finances. Her 
worst- case scenario is of the 
doomsday variety. 

It anticipates that Swedish 
prihtidans will fail to take the 
harsh measures needed to sort 
out stale finances, and that in a 


. .fist s« iuortfo-t994,in parent 

' •. Sms/ ' 

\ . . — - . • tarns • 

rr?.73 

, ^ 

few years time, a large bond 
issue might fail as investors be- 
come less and less willing to buy 
bonds. 

She writes: “There is a risk 
that Sweden would progress 
from being an “inflation risk" 
to also being a credit risk.” 

Erik Fait, an economist at 
Carnegie in Stockholm, believes 
the braid market’s present ner- 
vousness is exacerbated by the 
popularity of the Social Demo- 
crat party, which looks set to 
take office from the present 
center-right coalition govern- 
ment in the September general 
election. 


“I think the market is con- 
cerned about the dear advantage 
in the opinion polls fra the So- 
cial Democrats," be said. “They 
have until now consistently re- 
sisted giving details of any sav- 
ings in the budget They think 
that all the deficit problems are 
due to high unemployment" 

SEBanken. the Swedish hank, 
forecasts that the country’s gov- 
ernment will run a public sector 
deficit of 13 percent of gross 
domestic product tins year. 

Denmark's economy and 
public sector finances are in 
much better shape, say some 
analysts. It started reforming its 
economy in 1987. Kdd Holm, 
senior economist at I diman 
Brothers in London, said Den- 
mark has reformed a tax system 
that created artificially low bor- 
rowing costs, particularly in 
housing. Denmark is now re- 
covering from recession. 

Still, according to Mr. Holm, 
Denmark’s bonds are overshad- 
owed by the forthcoming gener- 
al election, which must be 
called before the year end. Once 
that is over, he says, anew gov- 
ernment could illustrate its fi- 
nancial rectitude by small cuts 


in government spending. In 
such a scenario, bond prices 
might rise from current levels, 
where the benchmark bond 
yidds a little over 8 percent. 

The bond markets in Finland 
and Norway are much smaller 
than those in Sweden or Den- 
mark and, fra this reason, are 
often overlooked by interna- 
tional investors. Finland has 
many of the same economic 
problems as Sweden, note some 
observers. Both have high un- 
employment — 20 percent in 
Finland and 8 percent in Swe- 
den. 

Norway is in some ways eco- 
nomically cimiiar to Denmark. 
It also started a reform program 
in the 1980s, although a year 
later, in 1988. Mr. Holm said 
Norway now represents a play 
on oil prices and the U.S. dol- 
lar. As a major oil exporter, its 
government’s finances improve 
with a rising ail prices or with a 
rising dollar. 

Of the larger markets, some 
analysts still recommend Swe- 
den, for those who are able to 
court risk in return for higher 
rewards. Denmark is widely fa- 
vored as a safer investment. 


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Page 16 


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


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INVESTING IN NEW 
INFRASTRUCTURE FOR EUROPE 


SKADDEN 
ARPS 
SLATE 
MEAGHER & 
FLOM 


BERLIN - NOVEMBER 3 & 4 

HcralbSSributtc 


For further information on the jjj 
conference, please contact: 

Brenda Er d ma n n Hagerty 
Intemadoaal Herald Tnbuoe 
Long Acn^ Loa^o»-Wp 2 E 9JH, England • 
Teb <44 71) 836 4802 •• 

Fax: (44 71) 836 0717 


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THE MONEY REPORT 


, Derivatives Come in Fixed-Income Wrappers 


; tyDjgjby tamer 

A T FIRST glance, structured 
waws appear the same as any 
otiffir band. The investor's aim jg 
to protect principle and receive 
■ «8nim;moome, although things don’t al- 
ways tnm out that way. 

: however. Un- 

C 2 nservativc cousins, 

■ J?TJcmred bonds are firmly rooted in the 
- nighty-geared derivatives market 

■ njeaQ s they can “be put to a variety 

■ Of mYCStmcnt uses —from he dgmp ao^ncr 
' losses to gearing up risk. 

Although now finding favor with privaje 
investors. structured bonds were « rijfr.«Uy 
- designed to protect corporate investors 
; agamst adverse movements in finanring 
costs. If a corporation needed to protect a 
‘ loan against a possible rise in interest tales, ■ 


for erampte, a bank or finance company 
would be called upon to structure a bond 
whose income grew when interest rates n»&; 

Structured bonds can also be used to 
caver commodities. A corporation sensi- 
tive to the cost of, say, oil or coffce» win use 
a structured bond to avoid being hurt by 
future price, movements. 

Paul van dex Maas, head of the struc- 
tured derivatives department ax Nomura 
International in London, says that, in their 
. most basic form* structured bonds amply 
use the cash from standard fixed-income 
560^11694088011 exposnre to highly geared 
derivatives. 

‘This involves laying out more money 
than going directly mto derivatives, bui it 
cuts the risk,” he said. 

Not surprisingly, the growing awareness 
among investors of the different ways de- 
rivatives can be used is encouraging them 
to use structured bonds for speculation 


rather' than purely for risk management. 
Their big attraction is that they can be 
tailored to cover almost any view an inves- 
tor takes of the market, Mr. van der Maas 
said.. 

“If you think the CAC-40 is going to go 
pp, or that the difference between the CAC 
and the DAX will drop, you can structure 
a hood that performs when that happens,” 
he said. This flexibiliiy is by no means 
limited to stock markets either. 

When equity and bond markets become 
difficult to gauge, as the)’ are currently, the 
temptation for investors to look to other, 
sometimes more predictable markets, in- 
creases. An investor might be unable to 
guess whether the Dow Jones Industrial 
Average is set to rise or fall, for example, 
but he might have a hunch that coffee 
prices are about to increase. A structured 
bond can be created to cover this. 

Robin Baldwin, managing director of 


London Bond Broking, says that although 
demand for structured bonds is increasing, 
fashions for particular types of bonds 
change very quickly. 

“When the gold price goes through one 
Of its periodic upturns, you suddenly find 
bonds appearing to cover it.” he says. 

As with all derivatives-based products. 


losses. But surprisingly, as the volume of 
trading in bonds and equities has fallen 
because markets have become less certain, 
structured bond business is still growing. 
This is mainly because they can be adapted 
to suit most market views, whether they are 
bullish, bearish or simply flat. 

Whereas investors were using structured 
bands speculatively last year, they are now- 
using them defensively, said. Mr.van der 
Maas. 

“Last year it seemed dear that interest 


rates were going to move down," he said. 
“Thai happened to an extent. But where 
interest rates went up. some investors 
showed losses. Since then, the type of busi- 
ness rather than the quantity of sales has 
changed. People are less keen to take 
chances. Whereas before they were pre- 
pared to risk their principle, now they want 
to protect it” 

Some analysts are surprised by the 
growing popularity of structured bonds 
and are skeptical about their possible 
benefits. They say the bond “wrapping” is 
aimed at encou rag in g cautious investors 
into entering highly-geared markets which 
they might otherwise avoid. 

One analyst, who insisted on anonym- 
ity, said that structured bonds are an ex- 
pensive way of buying derivatives and that 
investors would be better off takings more 
direct route into the market. Others insist 
that structured bonds have two distinct 
advantages. 


The first benefit, according to that view, 
is administration. Baltics atm investment 
houses dealing in structured bonds are 
able to monitor the market constantly — 
something that even sophisticated retail 
investors may not have time to do. Second- 
ly, in cases where the original investment is 
guaranteed, the bond wrapping shifts the 
risk from the investor to the bond issuer. 

As structured bonds are put to yet wider 
uses, however, one cloud on their horizon is 
the threat of new rules governing the way 
derivatives are managed. A number of huge 
losses made by the treasury departments of 
large corporations in recent years has raised 
fears that many investors are taking risks in 
this complex market without fully under- 
standing what they are doing. 

Analysts warn individual investors to 
educate themselves on the nuts and bolts 
of derivatives, as well as on their many 
nuances, before entering the structured 
bond market. 


To ‘Fund’ or not to ‘Fund’: That’s the Bond Investor’s Question 


By Michael D. McNfckle 


O NCE upon atone, be- 
fore there were mutu- 
al funds, wise people 
squirreled away their 
• savings in stocks, bonds, gold 
Vand cash. Now, say some m&r- 
Vket analysts, the kind of returns 
; that fueled the explosion otmu- 
- tnal funds in the first place may 
be a thing of the past. 

Indeed, some investors won- 
- der whether they mighi do bet- 
; ter on their own. the old fash- 
■ ioned way. Only now it's called 
* asset allocation, and the game 
' has changed. 

Picking & good investment- 
' grade bond 30 years, ago was 
■ relatively simple. Today, there 
■ are scores of hybrid and deriva- 
! tive bonds. Some, of course, axe 
■ safer than others. But is it better 
; to let a fund manager sort it out, 
- or to go it alone? 

Investors smarting from the 
‘ lackluster performance of U.S. 
- bond funds ova- the past six 
: months may be ready to give up 
- on them. Not so fast, say some 
; experienced market watchers. 

■ While there may be attractive 
- individual braids to be had, 

! they say, such plays do not offer 
many of the same advantagesas 
; a mutual fund. ' 

Frank X. Como, president of 
; the Queens, New York-based 
FJCC. Investors Coip. newslet- 
- ter, has his eye an about SO 
! hoods right now. Buthe warns 
-fpiai individuals investing in 
' bonds face many pitfalls. 


■ ■ 


“We liquidated our portfolio 
last September, because we saw 
these higher interest rates com- 
ing through,” he said. “And 
right now, there are some de- 
cent individual braids. “But it’s 
not reaHy the way to go for the 
individual investor — at this 
time, or at any time. 

“You’re better off going with 
the bond mutual funds. .The 
reason is that they give yoa bet- 
ter diversity.” 

■ - For one thing , trading costs 
may be prohibitive far individ- 
ual investors. Mr. Curzio said 
that each' bond purchased can - 
cost between S10 and S20 in 
broker commissions. Mean- 
while, other observers note, in- 
dradnal bonds may not be as 
liquid as mutual fund shares. 

Anthony Bade, a vice presi- 
dent and quantitative analyst 
for the Vanguard Group, said 
that the average retail investor 
may not understand some of 
the arcana of bond markets, 
such -as bow to weigh yield 
against risk, and how to gauge 
riskin tbe first place. 

Municipal bonds, because of 
their tax benefits, are another 
investment that retail investors 
who are disenchanted with 

But those tooking into . iodivi^ 
ual “muni” bonds would do 
well to read the fine print, warn 
some observers. 

“This is classic " noted Mr. 
Boric. “People trill go out and 
buy 10- or 20-year municipal 
braids cause tiro want to lock 
in a nice rate, but they never 


pay attention to the fact that 
the bond is callable ” 

f!aTlpb te bonds enable the is- 
suer to call them in — or, pay 
off the debt — after a certain 
number of years has passed. 
When interest rates fall, issuers 
of .callable bonds often choose 
this option and then issue new 
bonds at a lower rate. 

In a scenario like this, Mr, 
Bode said, the investor some- 
times winds up fcrildmg the 
braid only for two or three 
years. Thai, when the bond is 
called, he or she has to reinvest 
the money at lowo- rates. 

Individuals looking to rfmg 
the braid market may not fare 
much better. Mark Halbert, 
presttent of the Alexandria, 
Virginia based-Hulbert Finan- 
cial Digest, which tracks the 
performance of investment 
newsletters, notes that the prod- 
ucts he monitors haven't had 

nmrii hw»3f fn tfmfng the tvwrt 

markets ova any lengthy peri- 
od. 

“What’s interesting, actually, 
is that none, if you look at them 
on a pure timing basis, none of 
them has added value," he said. 
“On the whole, braid market 
timing hasn’t really worked. ” 

So, what’s a disillusioned 
braid fund investor to do? De- 
spite all the pitfalls, analysts 
say, there dm be some advan- 
tages to owning individual 
bonds in certain situations. 

An analysis by Mr. Jiorie sev- 
eral years ago found that ova a 
period of five years, individual 
bonds beat bond mutual funds 


- - in pert^ Jma 30. -SB pwogh June 30, W. 


Bond 


A Familiar Investment , 
But What Is It, Really? 


By Martin Bak£^ 


:.: : ^4^r- 
••.•'aV— 
y lb.*— 
5^2'“ 


Upper Taxable 
Bond Funds 
Average' 


B ONDS are the finan- 
cial equivalent of a ma- 
jor food group: With- 
out them, many 
individual investors feel that 
they aren't getting a balanced 
investment diet. But what are- 
bonds? 

They are bought and sold in 
their millions, but small inves- 
tors and readers are constantly 
asking for basic information on 
these securities — often after 
they have already committed 
capital to them. 

leaving aside direct invest- 
ments in bonds, the market in 
pooled investments through the 
medium of mutual funds is huge. 
According to statistics produced 
by DWS, the mutual fund aim 
of Deutsche Bank, bond funds, 
including short-term bond and 
money market funds, accounted 
for more than half of the 2.16 
trillion Deutsche mark ($08 
trillion) European mutual fund 
market at the end Of 1993. Bond 
funds made up more than a third 
of the U.S. fund market, and 
nearly 40 percem of the Japa- 
nese fund market 
Clearly, small investors, who 
are the most common users of 
mutual funds, like bonds. But 
equally evident there is confu- 
sion in the minds of some inves- 
tors who, reasonably enough, 
ima gin e that entities such as 


i v. i. • * i i . ... I.. . J i .i 1 * 

- r ..r;#? ’A?, S d ■ tf-' ■ f -"y . a 

1 : j y list CsantSfencSs IBM •• 


Source: Upper Analytical Services: Safamon Brothers 


by roughly l.S percentage 
points annually when interest 
rates were higher at the end of 
the period than when it began. 
The exact gam depended on the 
nature and timing of the inter- 
est rate increase. 

Mr. Jiorie noted that an indi- 
vidual bond holder who holds 
the issue to maturity gets the 
interest income, and rail face 
value of the bond. Fund manag- 
ers, on the other hand, often roll 
ova the braids in the portfolio 
before maturity, thus foregoing 
the maturity value. 

On the other hand, when in- 
terest rates are Iowa at the end 
of the period, the braid funds do 
better than the individual 
bonds. One study noted that in 


periods longer than five years, 
recouping the bond's maturity 
value becomes progressively 
less important as re-invested in- 
terest adds up. 

For those willing to take the 
plunge, Mr. Curzio mentioned 
several interesting plays, mainly 
deeply discounted investment 
grade bonds. 

He cited the AT&T 2001, 
currently a $900 a bond yield- 
ing S.7 percent, the Bell South 
Telephone 2003, a $920 bond 
yielding 6.8 percent, and the 
Dupont 2001 at $920 with a 
current yield of 6 j percent as 
examples. 

Mr. Curzio said that with 
these bonds, the investor is only 
locked in for six or seven years. 


faaermDOoa] Herald Tribune 

and “even if the rates go up, 
these braids are not going to 
depreciate that much, because 
you're going to get back par at 
maturity date. ” 

He added that he liked some 
dosed-end bond funds that are 
selling at below net asset value, 
such as the Dreyfus Strategic 
Government Income fund, the 
Global Government Fins fund, 
and the Putnam Dividend In- 
come fund 

“If interest rates turn,” he 
said, “not only will we be get- 
ting in 10 percent, 9 percent 
yield we’re going to recoup that 
10 percent. So, well be getting 
19 percent. That’s why we favor 
closed-end funds (ova individ- 
ual bonds) right now. " 


“guaranteed bonds” and “high 
income bonds” are really, in 
fact, bonds. 

So, let’s set the record 
straight. 

“Real” bonds are issued by 
corporations or governments. 
They typically offer a stream of 
income fra a period of years. The 
income is usually set at a fixed 
level. Wh»t '.-cries is the price at 
which you buy the income 
stream. Some analysts like to di- 
vide the cost of buying the bond 
by the price and call it the yield. 
This they compare to interest 
rates on bank deposit accounts 
and other investment media 
competing fra our money. 

“Guaranteed” bonds are usu- 
ally mutual funds that invest in 
derivatives contracts, promis- 
ing that investors' capital will 
be returned after a number of 
years. Investor confusion about 
the difference between a bond 
and a fund using derivatives 
callin g itself a bond has been 
heightened by the recent trend 
for new fund launches to be 
sold to traditional bond inves- 
tors. The managers are seeking 
to tap the liquidity of the huge 
bond market. 

“High Income” and other 
such names are just that — 
names invented by marketing 
people to persuade investors 
that they are buying something 
that has the relative solidity of a 
bond. 

Caveat emptor. 













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ti V V SP 8 5 B. 






Page 16 


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Page 18 


INTERNATIONAL HERALD TRIBUNE, SATURPAY-SUTVDAY, JULY 23-24^1994 



SPORTS 


The prograi 
will focus c 
relecoi 
transport; 


On Cement in New York , a Summertime 

— 4 . i n .1 VT VaJi Hannan Knt nmv OP.tK tf) C3JTY his OW 



iVfw 7iw* Tima Service 

NEW YORK —Bright orange pucks kept soaring 
off the cement and whistling past Daniel Berth- 
iaume, the starting goal tender for the New Jersey 
Roclrin Rollers. 

After one too many pucks had settled _ into the net, 
many of the 6,000 fans who had |Mtt *e 
Byrne Meadowlands Arena to support ihsu new 
«am turned their hoots from Berthjaume and ihwr 
eyes toward the player with the big brown ponytail 
sitting at the end of the New Jersey bench. 

Manon Rheaume, the first woman to play in the. 
National Hockey League, sneaked a shy peek at the 
fans sitting directly behind Berthjaume. 

And then the backup goal lender, 22, braced her- 
self because she knew the chant was coming. 

“We warn the chick! We want the chick!” The 
fans, politically incorrect but cheerfully affection- 


ate, were hoping to see Rheaume replace Berth- 
iaume in goal. 

Orange pucks? Cement surfaces? A woman goalie 
on wheels? Sounds Eke a siighUy whacky hockey 
fantasy, and that is a pretty good description of the 
Roller Hockey International League, now in its 

second season. 

“Everyone out here is having a baD and living a 
little bit of a dream,” said Joe Van Ness, 29, a 
forward with the Rockin Rollers. “Roller hockey is a 
sport that young kids can really relate to.’ 

The league, which plays its 22-game season be- 
tween June and August and seems 10 have «xv«l a 
niche among fans between the ages of 13 and 2U, is 
averaging 4,1 15 spectators per contest. 

“There are so many things that people come here 
to see," said Van Ness, who is a stick-boy for the 


New York Rangers but now gets to cany his own 
stick in competition. 

One of the attractions is Nick Fotiu, a former 
Ranger who is now the team’s head coach, general 
manager and part-time player. 

Most of the players in the league are current or- 
former minor-league ice hockewpl^ws. Although 
they earn little money, many Rffl 
seen in the United States and Canada on ESPN, 
offer minor leaguers a chance to stay m shape, hone 

their Frills and gain additional exposure. 

Stockpiled with considerable talent ■ — like Berih- 
iaume, who played more than 200 1 NHL &mes the 
past three seasons for Ottawa, Winnipeg and Los 
Ankeles: Lain Duncan, 30. a forward who played for 
Winnipeg from 1987-91, and defensanan ChnsBe- 

langer, who played one game for the Edmonton Odere 

ini 993 —the Rockin Rollers (6-6) should be making 


somenoise.by the end of. their 22-game regular 
“And then of course, there’s Manon,” said Van 
Ness. “She’s a real trig attraction wherever she goes- 
Rheaume, bora and reared in Lac Beauport, Quo- 
bee, became an international celebrity during the 
last NHL preseason when she started a game m goal 
for the Tampa Bay Lightning. _ ' •. 

She has become a fan f avontc at the Meadow- 
lands, and a showpiece, if not a. g i mmic k, for the. 
entire league, making appearances at NHL and RHl 
functions; on talk shows and at trading card shews. 

Rheaume, who played in the league's AU-Star 
Game in Vancouver, British Columbia, on July 9, was 
a major reason 16,708 fans showed up for that game* 
“It maVA me fed wonderful when the fans cheer 
for me like they do,” said Rheaume. “But when they 
start yelling, *We want the chick/ 1 really don t Uke 
■ that. I know they're trying to be nice, but it make® 
me fed really bad for Daniel because hes a great 


goaltenda. We’re teammate, and our fans should 

Skt for an of us the same. 


freer tor an w 

aged nearly Ivgoals per game. . V. .! 

»i«* Meadowlands, there are also cheerleaders, 
RolteWata who leap over brand new 
daredevTl KOiwn>niu pv-ciey^ace mascot who 

them Into the stands. . . 

^^•SSTpIayer on a 
^jinpkSp team would earn rou S^ r 1 f^ 0 ’ ‘ 
At. ... nno to pet rich playing roller fcockej 



bammemship team wouia cam - 


Maddux 
Lifts Braves 
Past Cards 


The Associated Press 

Nobody has ever won three 
Cy Young Awards in a row. 
Not Tom Seaver, not Roger 
Clemens, not Steve Carlton, not 
Sandy Koufax, not Jim Palmer. 

Greg Maddux is likely to 
change that, however. Maddux 
threw a five-hitter and lowered 
his earned run average to 1.71 


NL ROUNDUP 


— more than one run per nine 
inning s lower than any other 
starter — as the Atlanta Braves 
beat the farHinals. 6-1. for a 


split of Thursday night’s dou- 
bleheader : 


• in St. Louis. 

It was his third consecutive 
complete game, his major- 
leagu e-leading eighth, and his 
13th victory, tying him for the 
lead with Montreal's 
KenHHL . . , 

Maddux struck out eight and 
walked none, retiring 14 batters 
in a row in one stretch, as the 
Braves snapped a three-game 


losing streak* and dropped into 
vith idle Mon- 


a first-place tie with 
treal in the NL East. 

In the last three games, Mad- 
dux has allowed four runs on 20 
hits. 

Sl Louis won the first 
6-3, on a three-hitter by 



Who 


Los Angeles Drum rmas ^uu 9 wu 
And(jq>MedalL<^ 

The AaoaaudFnss " ' " - 


rhrimPlDeUa'TtaAvmMredPrt** 


Mike Stanley, the Yankees’ catcher, easily pot the tage on Spike Owen of the Angels, who had tried to score on a first-inning triple by Jim 


oHWrcs, but virtually conceded 
the second by matching 


Ills OUAMW WJ |II„W. . .. . U Mad- 
dux with John Frascatore, mak- 
ing his major-league debut. 

Frascatore was called up 
from Triple-A Louisville on a 
one-shot basis due to the rare 
six-game series necessitated by 


Sizzling White Sox Coo 



consecutive ndnouts in AgriL 


Frascatore gave up all six 
runs on seven hits in 3V> in- 
nings, including a two-run 
home run by Fred McGriff in 
the first anda three-run shot by 
Javier Lopez in the fourth. 

Astros 13, Pirates ft In Hous- 
ton, Ken Caminili drove in four 
runs against Pittsburgh and An- 
dujar Cedcno hit a three-run 
homer to help Pete Harnisch 
win bis fifth straight start 

Harnisch is unbeaten since 
returning from the 15-day dis- 
abled list on June 30. He gave 
up two runs and five hits in 
seven innings. 


The Associated Press 

Unfortunately for Albert Belle and 
the Cleveland Indians, one man’s hot 
streak can’t beat one team’s hot streak. 

Belle homered for the third straight 
night but it wasn’t enough to prevent 
the Indians from falling another game 


AL ROUNDUP 

.The White Sox beat the 


G 


behind Chicago. The White Sox beat tne 
Indians, 6-5, Thursday in the opener of a 
four-game series in Cleveland between 
the top two teams in the AL Central. 

Frank Thomas bit his 35th homer for 
the White Sox, who have won 17 of 21 
overall and 11 of their last 12 on the 
road. The Indians, meanwhile, have lost 
four erf five. 

Chicago now leads Cleveland by three 
games, its largest lead since May 30. 


First baseman Eddie Murray’s throw- 
ing error led to Chicago’s tying and go- 
ahead runs in the eighth. The White Sox, 
trailing 5-4, started the eighth with an- 
gles by Julio Franco and Robin Ventura. 

Murray then slipped as he fielded 
Warren Newson’s bunt and threw wildly 
iast first, letting one run score. Mike 
aValliere’s sacrifice fly made it 6-5. 
“The grass was wet, and when Eddie 
tried to make the throw, he was off- 
balance,” said the losing pitcher, Dennis 
Martinez. “You cannot blame one guy. 
With the kind of team they are, in a 
situation like that, they find a way to get 
the runs in.” 

Wilson Alvarez gave up five runs — 
four of them unearned — and six hits in 
7% innings. He retired the last 14 hitters 
he faced. 


The 


was bereft of any allega- 
tions of cheating or corking. It was last 
Friday night, when Cleveland opened a 
- ^ ' .that Belle’s bat was 

game at the request of 
jer, Gene Lamont. 

to be doctored and 

_idedfor 10 days, but he 
to play — and play well 


Ji mmy Key became 
in the 



senes at 
removed from 
the White Sox 
The bat was 
Belle was 
has continu 


the winningest 
pitcher in the majors. ___ 

New York moved 21 games ow -500 
for the first time since Aug. 8, 1987, and 
opened a 3 Vi-gamc lead on Baltimore — 


— while appealing 

Blue Jays 9, Rangers 3: Paul Molitor 

hit a pair of two-run homers and scored 
four runs as Toronto stopped visiting 
Texas for its fifth straight victory and 
moved six games under 300 for the first 
time in a month. 

Yankees II, Angels 7: In A n a h e im , 
California, Jim Leyxitz bad three RBIs, 
Mike GaUcgo drove in two runs with a 
homer and a double and New York’s 


from a 3-2 defic« in the . 

on Mike Aldrete’s sacrifice fly, then de- 
feating visiting Baltimore in the mnth on 

<- -- — - — Damu'e nnoV im the middle 


The Associated Press . 

LOS ANGELES — Qaudio TaffareL-hailed as a hero in 
BrazDTs World Cup '*#*****& 

who returned his victory medal ^SS^hootoui 

home in suburban Santa Ana. . w ■ . U t 

“Whm I talked to Mm,” the Mesocan-bom cabbie said, I 
said I thought twice about going bade to^Mexioo. We were. - 

idrint But inside me it wasn’t to do tbaL .... 

Tflanoo watched the final last Sunday on television brwaore ■ 
he could not afford a ticket. He had been rooting for Brazil . 
after Mexico was eliminated in an earlier round. 

The next morning Taffard and his _wife and daughter 
stepped into Blanco’s cab, riding from a hotel m Anahom to 

. Fullerton, California. . . . . 

Blanco knew die man looked familiar, but <»uldn’t place 
him. He said it clicked when they arrived at the hotel .and 
Taffard asked him to go to the back entrana to avoid ithe -j 
crush of fans. Blanco then went home forbreakf^md amp. 
Wheahe rctunifid to his car, he saw a pink-and-black fanny . 

pack in dm back seat In om pouch, hefomd key chai^a^ 4 

Sc dips with ti»Brazflian Dag In another, hefound passports I 
with visas for Taffard. Ins wife i md daughter. ■ I 

Then, in the bade pockd, Blanco saw a nbbpn, and &- 
tached to it^ was »gdwSW- And then he counted out the . 
$60,000 in cadtaammed ipto the pack. ■ . . — 4 

«I thought. This is aJot<rfmcmey,”’ BIanco said. “That’s 1 
-wheal started diaKag add just-grtth^ very; very nervous. 1 1 
- was rtitnkmg T have to go back ““^IvSi^hdon in d : 

heSd^r Out cart radio that pofioe. woe looking & the J v 
driver vho had^gjven Taffard a ride that manning Blanco T 

radioed that he was. an to way. 1 

At thehotd, police sored the l 
indeed ra meeting the soccer atarj w, 
for a BraziHan television station. - . . 

“After his mterview he diode my hand a nd gave me a pretty 
tight hug saying there.' were notr many poopte-fik* me are *| 

aram^BIa^^said. ‘Tbea-he gawtiie a ?we^erwith his I 
autograph, he riffled my videota p es arid he signed my T-shirt 
that Iwas wearing” a 

Blanco also recaved a SL000 reward. • 


Gerommo Berroa’s single im the middle 
that scored Mike Bordick from 


second. 

Brewers 7, Twins 3s Tim Brewers 
scored all of their runs with two outs and 
Bill Wegman broke a personal three- 
game losing skid in stopping Minnesota 
in Milwaukee. 

Jose Valentin hit a three-run homer in 
the eighth and fdlow rookies Matt 
Mieske and Mike Matheny hit homers 
off Jim Deshaies in the second. 


- Walter Zenga and Giutinca Faglinca, Italy’s leading goal; 
keepers, have swapped fefctiJS;T!» Associated Press reported 
-Friday from Rome, citing press reports. - 

After 13 seasons with Inter na ti on ale of Milan, Ze^a has 
sumed with Sampdoria of Genoa, press rgxjrts said Friday. 
Moving from Sampdoria to winter is Tagnuca, who was the 

Cup squad bm \ 

lost his Job on the national team to Pagtiuca, 27 . - 


DENNIS THE MENACE PEANUTS 


CAEVIN AND HOBBES 



50 MERE I AM RIDING 
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The Associated Press •■ 

FRANKFURT — Germany . 
the United States and Spain 
won their angles matches far an 
unbeatable 2-0 points lead ai 
the Federation Cnp tennis. tour- 
nament Friday, qualifying for 

the semi f inals 

France, the No. 3 seed, was 
having problems. France's Julie 
Halard fought through three 
Sets to win, 6-3, 3-6, 6-^against 
•Bulgaria's Katerina Maleeva. 

; Mary Fierce, the wodd No. 8, 
•won her first set 7-6 (8-6), but 
-Bulgaria’s Magdelena Maleeva 
! won the next two sets, 6-4, 6-4, 
-leaving the doubles later to de- 
‘cade the winner. 

■ Germany was first to finish 
with, Sabine Hack defeating 
South Africa's Etna Resnach 6- 
-3, 6-4. Her teammate Anke 
; Huber then quickly dispatched 
■the Sonth African Joannette 
fEniger, 6-1, 6-2. 

■' Mary Joe Fernandez of the 
-United States played a patient 
game of long volleys, letting her 
-opponent Petra Ritter of Aus- 
tria make the mis takes. Fernan- 
dez won, 6-2, 6-4. 

* But Lindsay Davenport, the 
.wodd No. 6, dropped the first 
•set to Austria’s Judith Wiesner, 
2-6, then fought bade hard to 
■win the next two sets, 6-2, 6-2. 

; Spain, the first seed and de- 
fending champion, also had dif- 
ficulty against Japan. 

Conchita Martinez defeated 
Naoko Sawamatsu, 6-3, 6-4. 
But Arantxa Sfinchcz Vjcario 
struggled through three sets 
withJapan’s Kimiko Date, ft 
bally winning 6-2, 2-6* 8-6. Fed- 
eration Gup rules require that 
the last set of a match .he won 
by two games rather than by a 
tiebreaker. 

. “I was thfntrrcg it was going 
-to he a tiebieak, but then they 
told me it was going to be a long 
one,” Sanchez Vkario said. 

■ Davis Cop Format for *95 

• Spain was seeded first for 
next year’s revamped competi- 
tion on Friday and drew an 
iaray match a gainst Bulgaria, . 
Reuters reported. 

The 1995 event wfll be played 
along Davis Cup lines, with the ' 
eight teams that reached the 
quarterfinals this week in 
Frankfurt going directly into 
next year’s world Group. 

The eight second-round los- 
ers earned spots in Group One. 

The ties will be determined 
by four angles and a doubles 
match over two days, April 22 
and 23. 

Following the first round ties 
in both groups next year, the 
losers of the four in the World 
Group will play the winners in 


Group One ’ to decide World 

Group placcs-in 1996.. . 

The losers of the Group One 
ties will face the winners of re- 
gional qualifying competitions 
who will be fighting to get into 
Group One. 

The United States is seeded 
second next year and wffl play 
at home against Austria. Third- 
seeded Germany will be at 
home against Japan .while 
France, the fourth seed, wBl be 
at home against South Africa. 

A total of 83 countries have 
entered the 1995 competition. 
AH but the 16 top nations will 
be involved in regional qualify- 
ing events. 

Two survivors from the Euro- 
Africa zone and one each from 
the American Asian z on es 
will earn promotion matches to 
get into Group One for 1996. 

The Federation Cop has been 
played since its inception in 
1963 as a straight knockout 
event involving 32 teams played 
over one week. 





Peter Dqont/IW Anoouol Pros 

Piotir Ugrumov daubing toward victory and second place overall Friday in the tune triaL 


Tour Time-Trial Victory 
Lifts Ugrumov to 2d Place 


By Samuel Abt 

lnunaicnol Herald Tribune 

AVORIA Z, France — Strike 
the French flag and raise the 
Latvian. 

To general astonishment, 
Piotr Ugrumov rode to victory 
Friday in an individual time tri- 
al in the Tour de France and 
rose to a secure second place 
overall, replacing Richard Vir- 
enque, before the race ends 
Sunday in Paris. 

Ugrumov, a 33-year-old Lat- 
vian who rides for the Gewiss 
team, completed a remarkable 
three days in the three- week 
Tour. Wednesday be finished 
second in a two-man final 
sprint and beat on his handle- 
bars in frustration, Thursday be 
finished first after a solo break- 
away and Friday he over- 
whelmed the field in an Alpine 
race against the dock. 

His was a victory & la Indur- 
ain: one minute 38 seconds fast- 
er than Marco Pantani in sec- 
ond place, a vast 3:16 over Big 
Mig himself in third place and 
3:50 over Luc Leblanc in fourth 
place. Nobody else among the 
119 riders finished within 4 
minutes of Ugrumov. 


On Eve of the 1994 Games, Where’s the Goodwill? 


By Lee Hockstader 
and Patrick Tracey 

Was hi n gton Peat Service 

ST. PETERSBURG — The Ameri- 
can was bang snide. "Thu has been a 
unique opportunity for the Russians 
. to make all the nwRmlrrec that they 
could ever make/* he said. 

The Russian was huffy. "These 
Pepsi-Cola signs don’t change a 
thing ,” he said. “They may capture 
our markets, but they’ll never win our 
hearts.” .. 

The Goodwill Games are supposed 
to be diplomacy-bydiscus, a celebra- 
tion of major-power churnminess, 
proof positive that deep down, all the 
worid? people are the same — among 
other dubious propositions. 

So why can’t the Americans stop 
kno cking the Russians’ skills as orga- 
nizers? And where do the Russians get 
off badnKxnhmg Pepsi? 

Such is the slightly sour .spirit in Sl 
P etersburg, site cf the third edition of 
the Goodwill Games, the quadrennial 
athletic and media extravaganza con- 
ceived by the entrepreneur Ted Turner 
a decade ago, when Washington and 
Moscow were still on snarling te rms . 

Following Olympic Gaines m Mos- 
cow and Los Angeles, which were 
each "boycotted by the rival country. 
Turner created the Goodwill Games 
as a politics-free celebration of friend- 
ly athletic rivalry. Although the 1986 
Goodwill Games in Moscow and the 
1990 Games in Seattle each lost mon- 


ey, they added considerably to 
Tuiner's ex p a n ding Awnm and paid 
off in publicity both for Tomer and 
the hok cities. 

But as thousands of visitors and 
athlff frs arrive in this city of 5 minion 
for the opening of the 17-day Games 
Saturday, the promise of feats on the 
field is being overshadowed for now 
by nagging concerns over security, 
public indifference, ticket sales so 
anemic they may have to be given 
away and a swimming pool that so far 
looks unswimmable. 

[Swimming, the showcase event of 
Saturday’s opening day, win be pushed 
bade a day because of renovation de- 
lays at the pod, officials said Friday, 
The Associated Press reported. 

[A t^rhwiral ram mi n re decided Fri- 
day to hold the event in two sessions 
on Sunday. Officials said all other 
events would be held as scheduled.] 

Hi ghligh ts of these Games win in- 
dude the men's 100-meter dash, in 
which the world record-holder, Leroy 
Burrell, will face the former wodd 
record-holder and a feOow American, 
Carl Lewis. In the 200-meter race, the 
world champion, Frank Fredericks of 
Namibia, will take on Britain’s John 
Regis and the Americans Michael 
Johnson and M3ce Marsh. 

In the women’s long jump, Jackie 
Joyner-Kersee of the United States, 
the two-time wodd champion, will 
face Genmaay’s Heike Dredhsler, also 
a two-time champion, in one of track 
and field’s longest-running rivalries. 


And in men’s basketball, the United 
Stales has assembled what Coach 
George Raveling calls a collegiate 
dream team that wiO be a favorite. 

Beyond the competition on the fidd 
is the nearly audible clash of cultures 
as swarms of can-do, computerized, 
forward-planning Americans collide 
with soulful, long-suffering, wail-to- 
the-last-possiblo-inmute Russians. 

“Here, there’s no Ticketron, no 
Ticket Master, no record-keeping, no 
credit cards over the phone,* said a 
slightly exasperated Jack Kelly, presi- 
dent of the Goodwill Games. Kelly 
was e xplainin g his unsuccessful at- 
tempt to get the Russians, who will 
keep all proceeds from the gate, to put 
tickets on sale early. 

Turner Broadcasting System, owner 
of the Games, is expecting to lose 
several millio n dollars on the Games, 
not as much as the $26 million it lost 
in Seattle. Kelly cited high costs of 
doing business in Rnssia as well as the 
withdrawal of a number of sponsors 
after the uprising in Moscow Last f aZL 

Nonetheless, Kelly failed to con- 
vince the Russians to start selling tick- 
ets months in advance. They went on 
sale only this week, and a paltry 
18,000 of the 330,000 available far 
Russians have been sold so far. In 
fact, ticket sales are so weak that city 
officials announced Friday that the 
prices for Russians (but not foreign- 
ers) would be cut by half. 

"The heartless, accurate machine of 


American business is of course more 
efficient,” said Rudolph Nezvetsky, 
the Russian Games spokesman with 
the dim view of Pepsi, a major spon- 
sor. “Here, a lot of things may sot get 
done on time, but they do get done.” 

In the past several days, the city has 
looked more the host of a steamroller 
convention than a sporting spectacu- 
lar, so numerous are the road crews 
and street-repairing machines in the 
city’s thoroughfares. 

The federal and city governments 
have sunk an estimated $70 milli on 
into polishing up the city — a huge 
amount of money by Russians stan- 
dards and an amo unt a pp roxi mately 
equal to Turner's own in ves tm ent. 

“This is the first time SL Petersburg 
will be rep r ese n ted on the TV screens 
of the world,” said Nezvetsky. “Before 
it was always Moscow and the Krem- 
lin. Now it will be SL Petersburg and 
the Hermitage and the Bronze Horse- 
man.” 

City officials are also looking at the 
Games as an opportunity to offset a 
tidal wave of publicity about crime 
and lawlessness in Sl Petersburg. 
With up to 20,000 visitors expected — 
including President Boris N. Yeltsin, 
who will attend the opening ceremo- 
ny, and New York Governor Mario 
Cuomo, who as the host of the 1998 
Games in New York City will attend 
the dosing ceremony — the police 
have been bolstered by extra Interior 
Ministry troops and army cadets. 


He covered the uphill 47.5 
kilometers (29.5 miles) in one 
hour, 22 minutes. 59 seconds in 
intermittent rain from Guses to 
Morzine-Avoriaz. His speed of 
343 kilometers an hour was 
rapid over three climbs rated 
third, second and first category 
in length, steepness and general 
difficulty, not including wet 
roads. 

Third overall before this 19th 
of 21 stages, the Latvian now is 
second. 5:39 behind Indurain. 
Moving up from fourth place to 
third was Pantani, an Italian 
who rides for Carrera. He ranks 
7:19 behind Indurain. 

Dropping from second place 
overall to fifth was Virenque. a 
Frenchman with Festina, who 
had a terrible day and nearly 
crashed turning a comer. He 
finished 18th, losing 6:04. 

“Time-trialing isn’t my 
thing,” Virenque said after he 
crossed the line in heavy rain. 
Only 24, he has years to im- 
prove and should be a contend- 
er in many Tours to come. 

Leblanc, his fellow French- 
man and Festina teammate, 
rose from fifth overall to fourth. 
10:3 behind Indurain and 7 sec- 
onds ahead of Virenque. 

“I'll be happy with fourth 
place when we reach Paris," 
said Leblanc, 27, thereby help- 
ing to explain his perennial un- 
der achievement 

The major mystery at the fin- 
ish was why Indurain, a Span- 
iard who rides for Banesto, had 
been beaten by more than three 
minutes. In the first individual 
time trial, on July II, he beat 
the since-departed Tony Ro- 
ming w by 2 min utes and the 
rest of the field by more than 4. 
Ugrumov lost 6:04 there. 

it was partly the cold rain, 
which Indurain detests, he ex- 
plained later. “I didn't want to 
take any risks in the descents in 
the rain.” be said. “When I 
heard about halfway how far 
ahead Ugrumov was, I just rode 
at a safe pace.” 

At a news conference, be also 
cited a lack of passion in a Tom- 
in which he iced his fourth con- 
secutive victory more than a 
week ago. 

“My motivation isn't the 
same when I've got the race 
won,” he said. He noted that, 
when be was cruising to easy 
victory last year, he lost the sec- 
ond time trial to Rominger. 

Fatigue also played a part, 
Indurain continued. “Like ev- 
erybody, Pm tired. You don’t 
finish a Tour without feeling 
tired. But I'm no more tired 
than usual.” 

Whatever the reason. Ugru- 
mov was absolutely superior 
Friday. 

He rode steadily, smoothly 
and, of course, speedily over the 
first climb, 4.9 kilometers long 
with a grade of 6.3 percent, and 


never faltered over the second, 
10.7 kilometers long with a 
grade of 5 percent, or the last, 
12.4 kilometers long with a 
grade of 6.7 percenL He seemed 
untroubled by the wel roads, 
the rain running down his face 
and the tens of thousands of 
fans screaming encouragement 
and Happing flags in his way. 

After a strong second place 
to Indurain in last year’s Giro 
d'ltalia, Ugrumov expected to 
have a fine season this year. But 
he broke his collarbone in a 
crash late this spring and has 
been working the last two 
months to return to form. 

Besides the 6:04 by which be 
trailed in the first time trial, he 
lost more than 6 minutes to In- 
durain in the Pyrenees. Only in 
the last three days, as this 81st 
Tour moved through the Alps, 
has the Latvian been able to 
halve his defiriL Barring acci- 
dent or illness to Indurain, 
Ugrumov will not gel much 
nearer than 5:39. 


Shida Signs 
New Deal With 
NFL Dolphins 

The Associated Press 

DAVIE Florida — Don 
Shula has signed a contract 
in his 25th year with the 
National Football League’s 
Miami Dolphins that will 
give him a minority owner- 
ship and let him coach 
through 1996 unless he de- 
cides to run the team from 
the front office. 

“It will be Don’s deci- 
sion.” the Dolphins' owner, 
H. Wayne Huizenga, said 
on Thursday. “He can 
coach as long as he wants. 

The announcement cam e 
a week after Shula, 64, the 
coach with the most vic- 
tories in NFL history, hint- 
ed that he might not coach 
past this year when his con- 
tract expired. 

While the new contract 
didn’t specify when Simla 
would stop coaching, be 
sounded eager to stay on 
the field. 

“Some of the things 
about retirement or going 
up to the front office have 
been blown out of propor- 
tion and exaggerated,'* 
Shula said. “I feel good. I’m 
healthy. I'm looking for- 
ward to coaching this year 
and in the remaining years 
of my contracL” 

He would become vice 
president and director of 
football operations if he 
moved upstairs. 


-I I -rn ITTT 


NHL to Meet Monday on Keenan 


BASEBALL 


Major League Standings 

AMERICAN LEAGUE 


New York Rangers and their former coach, Mike Keenan. 

“I have today directed that a hearing win be hdd bn the matter 
July 25, 1994 at the League office in New York,” Bettman said in a 
sta temen t released cm Thursday. “Further, I have also directed all 
parties involved to refrain from any further public statements on 
this matter until it is resolved.” 

The Ranger s asked Bettman to step in after Keenan a nno u n ced 
last Friday that he was no longer the coach of the New York club, 
/■iftftntng the Rangers had breached Ms contract Two days later, 
he was named head coach and general manager of the St Louis 
Bines. The Rangers also filed an eight-count lawsuit in Manhattan 
pideral Court calling Keenan a “faithless employee” and seeking 
unspecified damages and a court order to bar him from leaving. 
Keenan has maintained that the Rangers breached Ms contract by 
failing to make a bonus payment by a deadlin e. 

Giants’ Taylor Linked to Mob Probe 

NEWARK, New Jersey (AP) —the former New York Giants 
linebacker Lawrence Taylor has been subpoenaed to testify next 
week before a state grand jury investigating organized crane, 
according to a newspaper report- _ 

The Star-Ledger said, however, m a front-page story on lnurv 
day that the retired National Football League star was not a target 

not to be identified told the newspaper that 

the grand jury was nearing the end of m mvwngation of Geno- 
vese crime f amil y operations in New Jerse y. Taylor was named 
two years ago in a report by a state commission investigating the 
influence of organized crime on bars. 

2 NBA Games Planned for Japan 

■vrpw YORK ( API — P. J. Cariesiino, the former Seton Hall 
basketball coach, will make his National Basketball Association 
coaching debut in Japan, where the Portland Trail Blazers wffl 

the Los AageteOipp^ in a two- 
EanKSeriesin Japan on Nov. He series, the Hurt tone osn years 
SteSftas Steams to Japan for a seasotwpemng senes, 
concludes the following night. 

FortbeRecord 

. - 5 J. 26 will defend his two world heavyweight 

Michael Moorer, ^^^ heavyweight champion George 




ti^WBA and WBC titles he won in April with a maj< onty 


SJJSrr ^ he played for Afleticode Madrid. (AP) 

Gold Cup, the soccer championship for the 
The CONC ACAI* i*o« raribbean ration, is to be 




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mcft Thome** OS). C lg— low* Bcflc O). 
Mktnota NO on Mt-ft • 9 

Milwaukee m M NX-7 11 1 

Demotes. WURs 14) CM WaJBeefc; Wegman, 
lenasJok M> <md Mctoenv. W - -Wsom on. 7-3. 
L— Onshate* HI H fti MJiwo ta . Alack 
(121. Krhefc W. Milwaukee. MMc (Ml, 
Manway (I), Js. Vtomtta QU. 

Texas ON IN NS— 3 t 1 

Taranto Ml ni Ox— 9 N 1 

Laarr,WNlesfc» (7) and J. Ortiz; Hentoerv 
Cox C7> and Knorr. W— Hantaan. BM. l^-Leanr, 
M. Sv-Cnx m. HRs— Twos. Omr 2 It). To- 
ranteh Mottor 2 (111. ScMM Ml. 

Now York Nl IN an— 11 15 2 

Cotttorato m IN m— 7 is • 

Key. x H e rn a n d ez (7). wtramon (II and 
Stanley; FMey, Lavrts (5>. Masrano 17} and 
C Turner, DalasanNo in. w— Key, is-2. 
L-FWn.M. Sw-WVsunan ML HRs— New 
YorfeGancoo f5).CDfltomia B. joefuon (ill. 
Snoxr IS). 

MATtOMAI. LEA0UE 
FHem 

AHaan IN BN N»-3 S • 

XL LOati ZN 20# 00 »— 4 12 1 

Smoltz, Slaatcn (7},Otsan (S)andO'Brfan; 
OOvares m) T. McGrtft W-OHwoiw, K 
L— Smoltz, Ha 

Secsad Same 

ABanta 7N m m-* t ■ 

Sturts NO w no— l s l 

S. Maddux and J. Loam; Frascataro Evers- 
ontl WLMuntfnr (®, Htmyon and Paonani. 
W—G. Maddux. 154. L — f uacc*o r«. 0-1. 
HRs— Atkrta. MeGHff «J, A Loon CD). 
PIW NarBfc ON IN ITS- i 12 2 

IlMfca 2N 221 »0x— O 17 • 

Z. South. R ob ertson (4), Dewey (■> and 
Stoooht; Hamttch. Hampfan W. To. Jonas 
m and Servats W— HambdV M L-2. 
Smith, **. Hlb*— Ptttsbundi, Merced (71. 
Kkm ML Houston. Servais (SL Cedeno IS). 


r esti n g. 3 :40; 5»Choriy Mattel. Franco. No»t- 
malL 4:12. 

& Vladimir PouMkov, Russia Carrera 
4:24; 7, Enrtc Zalna ll«v. G ewhn. 4:17; 0. 
Joan^roncois B e rnard. Franca Banesto, 
4:31; S, Alex Znlle. Sw i tzerland. ONCE. 4 ;4V; 
10. Roberto Conti. Italy, Lamora 4:54. 

Overall staedteas: L Minuet fadurofci. 
Sootn, Banesto, *3 Hours, 3 minutes 5> sec- 
onds; l Piotr Itorumov, Latvia Gewiss. 5 
mtoutosJ Te ocopdibObtoB; xmu cu Pa n tont 
ltotv,CorTT«ra,7:lV; 4, Luc LeWonc Franca 
Festina WSQ; £ Rickard vireaaua Franca 
Festina TRIE 

4, Roberto Contt Italy. COMG. 12:2*; 7, 
Alberto EHL Italy, GB-MB, 2B:T7; £ Alex 
Zone, SwHzertanaONCE, 20 JS: *. Odo Bolts. 
Germany, Toietaxn, 25: W; lavtodlmlr Port- 
nfim, Russia Carrera 35:20. 


CRICKET 


FIRST TEST 

Soon Afrtca vs. Eeotona second day at DOM 
Friday, at LonTs 
South Africa ftrst tantaos: 2S7 
Engtato first tontoas: 141-7 




CFL Standings 


Eastern Dfvtstae 

W L T PF PAPtS 

Bommont 110 44 A2 2 

Toronto I I 0 » « 2 

Winnipeg 1 1 > 70 59 2 

Ottawa 1 2 0 79 NO 2 

Sh n r ep o rt 0 2 0 44 7S 0 

Hamilton 0 3 0 50 *2 0 


BrlLCotamWa 
Las Vegas 
Edmonton 


0 TZJ 63 6 

0 44 <8 < 

0 04 02 4 

0 <3 30 2 

O 51 54 2 

D 44 51 2 


Thuraday’a Line Scores 

AMERICAN LEASUE 

•oOksore . no 0*0 m-a i e 

Ortdend NO MB 011—4 7 0 

McDonald. MflJ*(4L Bdtoora UHmd IWIes; 
Dorflna Letoor W. Edantov tf) and Stekt- 
Dach. W4— Edcerrisr, M L — Bchhom. 54. 
CMCOfO 022 DIO «*-< II 2 

O ereton d «04 no mts « l 

Alvarez. McGaMI IS), Assenmocftor (9). 
It. I tman d w ID and UVURn; Da Mortt- 
aez end Pena w-*lvarabn-£lj-Oa Motif 


CYCLING 


Tour de France 

Results Friday el ne 19lk stage, from 
amts to m n tu L m 4W Nor ctmhBo) 
tartWdart tfaae trial wflh cyclist c o aotry. 
team and w b n Tn g time; L Piotr Ugrumov. 
Udvta Gewiss, ) Sours, 22 mbwtes. 59 sec- 
onds; a Marco Pantani, Maty, Carrera I min- 
ute. 31 sec o nds Debtad; £ Miguel Indurain. 
Spain. Banesta 3:14; 4. Luc Lebtona France. 


British Columbia 42, Hamilton 25, OT 

ESCORTS & GUIDES 

BRGRAV1A 
ORCHIDS 

LONDON MBS BCOKTMaCY 
OBIT CABS WBG0NE 

UK 071 589 5237 


CHICAGO Ac tt va to d Joe Hall outfletder. 
from 1540V dtoetoled list and optioned Mm to 
Birmlngnam SL. Birmingham retaased Sant 
T outer, m inoirtrr 

CL EVE LAND— Put MorttaotXpMeftor.on 
15 ■Gm cBsahJM list. RecoHed Jerry DlPato. 
pitcher, and Mora Lenta. infleMtor, from 

Chortatta I U Oc4taned Jerry DIPoto. pitcher. 

to Chorion*. 

KANSAS CITY— Acttvtrted Gary GaettL 
(Mrd bassmaa from uetor dtaerted IW. Op- 
tioned (tab Mltodd. Pttener, to Omaha AA. 

SEATTLE— Aeartred5hBMfi Basklanltrii- 
er.from PtiltodeWUotorminor league etaver 
to be named toter. Announoed inaf *Mt WII, 
pitcher, edeared waivers and was sent out- 
ricdit to Jacksoavliia SL. 

TEXAS A ctiva t e d Ockflbe MeDowlL «»Jf- 
fMder. from 15dav dbabtod DsL Optioned Da- 
vid Ktadsa outtwaer, ta OMchama Otv. AA. 

Notional Loae oe 

CINCINNATI— Recoiled Scott Service, 
nl tetter, tram indtanapofls. AA. DcsWioted 
Rich DeLada pitcher, for assignment. 

FLORIDA— Pat Dave Maoodaru Inflelder. 
on I5dov dto ot dad MsL 

PITTSBURGH— Pul John Wehner. tnfleld- 
er.an 15dor dbrtded list. Recalled Tony Wo- 
mack. mn okler. tram Buflola 


ST. LOUIS— Sant John Froscatore. pitcher, 
to Louisville, AA. Recalled Tom uraanLpHm- 
tr. tram LortsviUe. 

BASKETBALL 

Natloant Basketball Assoctotlao 

BOSTON— Extended contract of Chris 
Font couch. 

LOS ANGELES— Stoned Trevor Ruffki, 
guard. 

SEATTLE— Nomad WoUv Walker presi- 
dent and general monooer. 

FOOTBALL 

Hattanoi Footoon Laagne 

ATLANTA— Agreed to terms with Scott 
Cesa defen s ive Dock. 

BUFFALO— Waived Greg Polerra. run- 
nWip back, end Tom Oohrlna offensive Hoe- 
man. 

CLEVELAND— Reieosed Greg Briggs, 
safety; Joe MonttonL Hnetxxfter; and Dean 
Lytle, running cock. Signed Randy Baldwin, 
kick returner-naming back, end Mario Jolm- 
soa and Jeff Cummins, defensive linemen. 
Released Nolee Musiatoa. comerboek, end 
Tim Mytes. defensive Hnemon 

DENVER— Announced that Scott vouohn. 
oftenslve l tooman,hos left comp. Nomad Ren- 
nle Lee nod George warttop summer minority 
■ -» — 

HIIBt IO. 

DETROIT— Signed Shone Bonnam, defen- 
sive end. and Tony Semple, guard. 

GREEN BAY— Released Christopher Pe- 
rm, offensive tackle, and Lionel Crawhrd. 
•ride receiver. Stoned Ty Detmer. auorter- 
bock, ond Tim Houdc safety. Wolved Lleneil 

Crawford, wide receiver. 

HOUSTON— Mike Muntnok. guard, retired. 

INDIANAPOLIS— Put Aaron Cox. wide re- 
ceiver, on Inactive Ust. Reltcaed AI Edwards, 
wide receiver. Re-stoned Den Molkoeiskl, 
Quarterback. Stoned David Tate, defensive 
back; Alex Gordon, linebacker, and AI Ed- 


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words, wide receiver. Claimed Mon Friar, 
wide receiver, off waivers. 

I— A. RAIDERS— Stoned Dou« Thomas, 
wide receiver, end Matt Elliott, offensive Ikie- 
mon. Cut Keith FranfcUn. Unebackar. 

LA. RAMS— Released Ruisefl wnlte. run- 
ning back. Stoned Johnny Bailey, running 

Bora-kick in tamer. 

MIAMI— Extended c ontract o! Eddie 
Jones, general manager and executive vice 
president, through 1995 wi Hi on option lor 1996. 
Stoned Colvin Jackson, cornertmm. 

NEW ORLEANS— Agreed to terms with 
Sam Mills and DeMond Winston, linebackers, 
on I -veer con t racts. Agreed to terms wftft 
Winfred Tubbs, itaebockar, on 3-vear con- 
tract. 

SLY. GIANTS— Signed Storav Dillard, de- 
fensive tackle. 

N.Y. JETS— Agreed to terms with Leu Ben- 
tottL defensive tackle. 

PHILADELPHIA— Agreed ta terms wWh 
Gree Townsend, defensive end, on a 1-vear 
contract. 

PITTSBURGH— Stoned Ernie Mills, wide 
receiver. 

SAN FRANCISCO— signed Jon Baker and 
Watt Campbell, defensive linemen; Rixty 
Boraor ml Bret Kworta. oftenslve linemen; 
Carlton Lance and Mike Salmon, safeties; 
Shown bo Wright-Fair, rumble back; Bill 
Musarave, auarterbock; and Derrel Craw- 
lord, Unebackar. Waived Saniev Beach ana 
Tony HargaJn. wide rece i vers; Brian Bol- 
linger, offensive lineman, and Aloe Millers 
tackle. Released ine rights to Cory Fleming, 
wide receiver. Stoned Kevin MltthaiL Antho- 
ny Peterson and Lee W o oda l l linebackers; 
and Tvrorme D rak eford. comeraock, to 3- 
year contracts. 

SAN DIEGO— Stoned Eric Moten. offensive 
guard, to a 2-year cent ro d . 

SEATTLE— Stoned Kevin Mawoe. center. 


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0 North American Trust. 
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Pactftc Trust 


d Podflc Trust, 
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0 Janan Fund. 

w Managed Trust 

d Gartmore Japan Worm 
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Page 20 


BNTERNATIONAL HERALD TRIBUNE, SATURPAY-SUNDAY, JULY 23-24, 1994 


DAVE BARRY 


What’s That Again? 


With a Sigh, Israel Gives Up Sinai Treasure 

— — • — — ^ — im»< tn p»i ftsti mans ; they ere psn 


PEOPLE 


Magaxme’s 'Johe'Fmk 


A /TIAM1 — fm sitiing in a 
1V1 small, brightly lit room in 
New York Gty, facing a TV 
camera, grinning enthusiasti- 
cally and having a conversation 
with perky voices in my ear. 

I’m doing what’s called a 
“satellite media tout'’ to pro- 
mote a book. For three straight 
hours Tve been talking to perky 
TV News Teams all over the 
country, one after another, for 
about five minutes apiece. Tne 
only person in the room with 
me is Gary, the cameraman. I 

can’t see the News Teams; l ean 

only hear them via an earpiece. 
They all tend to ask the same 
questions, so I’ve been saying 
the same things over and over 
and over. 

“So Dave!” a perky news 
voice is saying. “Tell us about 
the squirrel in the woman’s toi- 
let!" The News Teams love this 
story. 

Gary the cameraman winces. 
He has heard the toilet squirrel 
story about 29 times today. 

“Ha ha!” I say to the camera, 
as though I am delighted to be 
telling this story yet again, 
whereas in fact I would rather 
be undergoing vasectomy via 
tire iron. But I plunge ahead, 
because it is my job. as an au- 
thor, to get my book mentioned 
on the TV news. It’s not easy. 


tries to be cool and act as 
though nothing has happened. 

I help him out by shouting, 
“WHAT? WHAT DID YOU 
SAY 7 ” 

He’still trying to gloss over it 
and get on with the interview, 
but now he’s starting to giggle, a 
problem that only gets worse 
when his wrislwatch, suddenly 
and mysteriously, as though 
possessed by demons, springs 
off his wrist and clatters noisily 
across the table. 

Literature: It’s my life. 


By Clyde Haberman 

New York Tima Soviet 

J ERUSALEM — Even now, years 
after they waved farewell, many 
Israelis find it emotionally difficult to 
let go of the Sinai Peninsula. 

They held it for 15 years, from 1 967, 
when their army captured it from the 
Egyptians in the Arab-Israeli war, un- 
Jfl 1982, when it went back under a 
peace treaty between Israel and 
Egypt 

A dozen years later, many here talk 
wistfully about the wilderness they 
lost These people indude those more 
than willing to give up land in the 
name of peace. For (hem, Sinai repre- 

, - a n;k1» a nil 


longs to the Palestimans; they are Pjrt 
o£ heritage,” said ProfessorNaow 
Jubeh, an archaeologist at Bit A* 1 


, • - y 


JUUCUp QIMJBXVAVQ— ’ 

University in- the West Bank*- 
Does that include material puiay 


■ - J* fv UfcV - 


Now I*ro in Denver, and Tm 
on a TV talk show with a coun- 
try and western band from — 
get ready — Singapore. They’re 
promoting their new record, 
“You Caned the Buttocks of 
My Heart." No, I'm kidding 
about the song title, but the 
band is real They’re called 
"Matthew and the Ma n d arin s." 

i !nr4 in thft 


UOUAi VI — ’ - * j 

sented magic and mystery, Bible and 
beach front: a getaway place that of- 
fered that most elusive commodity in 
this postage stamp of a country, wide- 
open space. 

Maybe that is why they have been 
flodking to the Israel Museum in Jeru- 
salem for their first, and last, glimpse 
of archaeological artifacts that Israeli 
researchers discovered beneath the de- 
sert and are now handing over to their 


ITIUiLUV Tl — — ' 

and they’ve just arrived in the 
United States on a tour to pro- 
mote goodwill for Singapore. 
They do a pretty good version 
of “Margarita vine," but public- 
ity-wise Fm wondering how 
well they’ll do here, going head- 
to-head with big names such as 
Barbra Streisand. 



r- 




Jewish in character? 

■ “Of course,” Jubeh rep bcd \^£~ 
faeritagphasa Jewish eonpw^- 

of our society has always been Jew- 

Israeli archaeologists, that argu- 
mentis, stripped of 
hogwash. fakeTthe Dead 
Sd Yaakov Mesborcr, the chief CUI ^~ 
tor at the Israel Museum, wheremany 
of the 2,000 : year-old scrolls are 

S1< ^mxeis no question touh# * 
Jewish treasure*” he_sa«L It «•» 


; * ■ ■«»> 

• *• ,* • 

4 • ' * 


Egyptian counterparts. 

It is apparent that bad it not been 
r Israeli archaeologists poking 


1 Finish talking to the current 
News Team, and immediately I 
hear a new one in my ear. 

“Dave!" a perky voice says. 
“What’s the deal with these toi- 
let squirrels?” Gary the camera- 
man slumps. I think even the 
camera is slumping. 

“Ha ha!” I say, and plunge 
ahead. 


It’s several days, and several 
cities, later, and Fm in Milwau- 


: 

kee, being interviewed on a I y 
show about books. The host is 
trying to ask me a question that 
begins “When did you first 
start,” but he messes up and 
combines the beginning of 
“first” and the end of “start” 
into one word, so that his ques- 
tion comes out: “When did you 
(comical bathroom word).” 

He says this very cleany. He 


Now I’m sitting in a TV stu- 
dio in Portland, Oregon, wait- 
ing to go on a TV talk show. 
The other guests are Allen 
Ginsberg, the famous poet, and 
Charlotte, a dog employed by 
the local fire department to 
sniff out gasoline and other 
chemicals used in arson. 

“Where’s Allen Ginsberg?” I 
ask somebody. 

“Here,” says a little old man 
who has been sitting right next 
to me for 10 minu tes. 

“Ha ha!” I remark, suavely. 

Ginsberg, who is on a book 
tour, announces that he is very 
tired, then lies down on the stu- 
dio floor and goes to sleep. 
Charlotte the Arson Dog, on 
the other hand, is energetic, 
bounding around the studio, 
deliriously happy to meet peo- 
ple. She is not on a book tour. 

Now Fm home, all done with 
the book tour. I don’t talk much 
these days. Mainly I sleep. 

Knlglit-Ridder Newtpopm 


for Israeli archaeologists poking 
through Sinai, most of the material 
would still be covered by sand. They 
expanded knowledge about desert so- 
cieties, turning up ancient oil lamps, 
burial masks, urns, funerary steles, 
arrowheads, necklaces and bits of 
sandstone etched with characters of a 
primitive alphabet going back 3,500 
years. 

But while Israel may have done the 
rtigginpi Egypt had the legitimate 
claim to ownershm of the finds. And 
when it firmly said it wanted the thou- 
sands of pieces back, the Israelis 
agreed. Most of the material was 
shipped to Cairo over the last year, 
the rest will be sent by December after 
a final cataloguing. 

To the professionals, this reverse 
archaeological exodus is a milestone. 
It is not that institutions or individ- 
uals have never before given back ob- 
jects to people from another country 
laying claim to them. 

AsMartin Weyl, the director of the 
Israel Museum, put it, “This is the 
first time I know of in the 20th century 
that as the result of a political agree- 
ment between two countries, cultural 
property is being returned.” 

Through the years, the Sinai arti- 
facts remained in storerooms here. 
With the transfer near, though, offi- 


A fifth-century B.C. gold-plated burial mask at the Israel Museum. 


ESSSPSfKSSS 

Dead Sea in the West Bank- 
Legal questions anse as well. 

example, unlike the EgyP tl ® D ?» 
Palestinians have never had thorown 
state In recent amumes, the West 
Hank was suocessivdy controlteaDy 
the Ottomans, the British, the Jorda- 
nians and the Israelis, but never tte 


"'T5 — — 

To Amuse Paris Major 

Just kidding, said die maga- 
rine. But Jacqnes Chirac, the | 
mayvr of Pans, waro t amused f 
bv a cover photo showing him 

jmnping over a . sob T a lr lur l 
sfiteaml he is stung LeNouvd 
Observateur for a symbolic one 

franc. The photo Js genuine, 
both the mayor and dteweddy 

taken in 1978 when Chirac jok- 
ingly posed jumpjngthemrn- 
SSeduring an official vmttoa 

subway station. What nked the 

mayor, a fflcely presidential can- 
didate next year, was that the 
photograph was used .this jredc 
tofflustrate a cover story titled, 
"The France That Cheats.” 

□ 

A pen-and-ink sketch by 


rials decided the time had come to put 
some of the more dramatic pieces on 
display. These included a reconstruc- 
tion of family tombs, circular stone 
structures that still stand in southern 
Sinai and are 5,000 years old. 

Two weeks ago, the exhibition “Si-, 
□ai: A Farewell for Peace” opened at 
the Israel Museum, where it is sched- 
uled to continue until Sept 12. Jimg- 
ing from the large crowds on the first 
weekend, it seems safe to say that 
while Israelis no longer hold Sinai, it 
still holds them. 

Delighted at the way things have 
turned out, the Egyptians say they 
want to brig the exhibition early next 
year to Cairo, Alexandria and Luxor, 
and eventually to a new museum be- 
ing built in E3 Arish, on the Mediterra- 
nean near the Israeli border. 

Although they are too polite to say 
so publicly, officials in Cairo were 
dubious at first that Israel would keep 
the agreement. But they say unhesitat- 
ingly now that all promises have been 

^It is a good example by the Israelis 
to give it all back," said Mohammed 
Abdd-Maksud, who is in charge of 
northern Sinai for the Egyptian An- 
tiquities Organization, a government 


agency. “We would like others to fol- 
low this example in otherparts of the 
world.” 


: Inevitably, the Israeli agreement 
with Egypt raises questions about 
whether a precedent has been set with 
regard to other territories that Israel 
captured in 1967: the Golan Heights, 
which Syria Is demanding back, and 
the Gaza Ship. and the west Bank, 
Which the Palestinians want for their 
hoped-for independent state. 

The two spheres.of the West Bank 
—known to Israelis by their names of 
biblical origin, Judea and Samaria ■— 
are of incalculable religious, historical 
and cultural importance. 

Archaeological finds there indude 
remnants of ancient synagogues and 
the Dead Sea Scrolls. It is almost mi- 
possible to imagine Israel readily ac- 
ceding to demands from the Palestin- 
ians that anything found in the West 
Bank belongs to than. 

Palestinians are already presang 
such rfaims, calling them a loped, 
extension of their agreement with Is- 
rael on self-rule, winch went into ef- 
fect recently in Gaza and the West 
Bank town of Jericho. • -J 

“Everything discovered, here be- 


Palestinians. . . - 

“They cannot claim something that 
they never owned,” Meshorer said, n 
such ex post facto damns were at- - 
lowed, he argued, then brad shoojd 
be allowed to retrieve valuable Mbli- 
catera. objects taken by the Turks tc> 
I stanb ul when they controlled the 
area. " _ 

So delicate is this issue that Israel 
and the Palestine Liberation Or^uu- 
■rwrion dedded in their Gaza-Jencbo 
agreement to set it aside for several 
years, along with other volatile mat- 
ters like the fate of Jerusalem. 

. By comparison, Sinai is a sea of 
tranqiriTHty, and Egyptian and Israeh 

lot* to continued coopera- 
tion/ 

Avncr Goren,an Israeli arch aeolo- 
gist who supervised Sind dig? from 

1968 to 1982, taOsnostalgicanyofks 

years in the wilderness, where his diflr 
dren were brought up among the Bed- 
ouins. 

- “There is a kit of sentimental at- 
tachment to Sinai,” he said, adding 
that he “would love to go-badr? for 

is fine with Abdd-Maksnid. 
Once Egypt grts., everything back, he 
rowt, there is no reason why. Israelis, 
too, may not return to explore some 
more. 


A pen-and-ink sketch by ■ 
Beatrix Fotter sold at- auction 
for £24,200 ($37,450) in Lon- 
don, Christie’s said. Justin 
Schiller, a U^. collector, 
bought the work, the “Guinea 
PigGsudeoers.^ Christie’s sad 
the price was a record for a 
Potter illustration at auction. 

b ' 

Rose Kennedy received 104 . 

pink roses on Friday from her 
Edward M. Kennedy, as she 
celebrated her 104th birthday in 
Hyamiisport, Massachusetts. 
The Kennedy dan . will gather 
fra- a family bash on Saturday. 

a r - • 

Abdal Seraad-IsBMfl, 70, i , 
Malay sian- newspaperman, has9 
.won the 1994 Ramon Magsay- 
say award for jour n al i s m , htcra- 
tme and tbe creative communi- 
cation aits, the awards board 
said in Manila. 

□ 


Ifeiic 

i 1-r 


' New York Qty plans to re-, 
name Central Park Reservoir 
after Jacqoefine Kennedy Chas- 
sis, the DaSy News says. Ha- 
san, Join F. Kennedy Jr., came 
up with the- idea mid Mayer 
GSuHani improved it 
Mis. Onassis, who cued in May, 
fived just (docks from the reser- 
voir and was often seen walking 
and jogging around' it .. . 


international 

..CLASSIFIED 


Appears on Pages'? &. 13 


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By William Grimes 

Mew York Tima Service 


F OR nearly 30 years, the drive-in movie 
theater has struggled. Squeezed, by 
multiplexes, videocassettes and urban 
sprawl, it has at times seemed to teeter on 
the verge of extinction. In 1958, there were 
more than 4,000 drive-in screens. Today, 
there are 837. 

But do not mourn its passing quite yet. 
Although the number of screens nation- 
wide continues to decline, the drastic attri- 
tion of the 1980s has eased, say industry 
experts and theater owners. In large areas 
of the United States, the old-fashioned 
drive-in not only survives but prospers. 

This is only fitting for a cultural form that 
manages to combine three of Americas 
greatest inventions: film, cars and fast food. 

“This year, everybody’s been doing pret- 
ty good,” said Mike Reed, the manager of 
the Twin Drive-in in Independen ce, Mis - 
souxi, a first-run theater with two screens. 

Missouri is a hotbed of drive-in culture. 
The Kansas City area alone has four drive- 
ins, all of them prospering. Taking a cue 


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from the indoor competition, the 1-70 
Driven in Kansas Qty reemdy b ecaine a 
multiplex, going from one to four screens. 

Tins boom contrasts sharply wfiH states 
like New Jersey; which lost its last drive-m 
in 1991, a cruel blow, considering that _the 
first drive-in theater opened m Camden, 
New Jersey, in 1933. 

“AkHofdrivewnsdosedmthe 1980s, but 
not because people weren't going,” said Jim 
Kozak, a spokesman for the Natio nal As so- 
datioa of Theater Owners. “They were to- 
cated in such good spots, usnallyjn the 
middle of the suburbs, that the land became 
too valuable fohold on tix The ones that are 
still in busness are quite popular.” 

In general, the drive-in has declined in 
around cities and in areas with colder 
weather and short outdoor seasons. It has 
held on in the rural South, in parts of the 
Midwest, and through** 11 the Sun Belt. . 

“People tfrinV you’re doomed , if you 
don’t have a 20-screen multiplex,” said 
Ray Greene, the editor of Box Officemag- 
azinc, a trade publication. “That’s true in 


big cities; but ifs not true in ont-of-the- £ 

,W ^Vhere the drivem has Survived it h^ 5- ” 
- clone roly adtaing to traditional values. ; ' • 
First and foremost; it is ohemj. 1 

■Tt woiks here in Carisbad because the — 
town iS' middle to low income, and we 
charge $5 pU cartoad,” said Brad Light, r.- 
thc owner of the Fiesta Drive-In m Caris- 
bad, New Mexico, a theater that dosed in . 
1970 but reopened four years ago. - , r 
get 10 people m there and, hey, tints a 50- - 
cent movie.’* ' 

■ a Anyone who thinks of drive-ins as ar* . - 
chaic should consult the Japanese, who r . 
• love them. The 9»xhika Co. has set up. . 
right drive-ins iq Japan ^mnee 1981, threetrf 
them ha the Tokyo area. These are drive- - • 
ins with adifference, however. Land values 
in Japan are so high that the drive-ms — 
operate on parking- lots, which otherwhK 
would be empty at mght I" 


A truck on blocks serves as thepirqjecr 
m booth. Concessions kiosks and the. i 


turn, booth. Concessions kiosks and the 1 
screen are rolled onto the lot at dusk, tiiar . 
rolksd off after the last movie. ' ’ 


ft Ed 


^ ' ABSET AccessNumbas 
How to cafl around the world. 

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OaOMaO <a* 


a Imagine a world where you can call country to country as easUy as you can from home. And 

reach the US. directly from over 125 countries. Converse with someone who doesn’t speak your 
language, since ifs translated instantly. Call your clients at 3 turn, knowing they’ll get the message in 
your voice at a more polite hour. All this is now possible with MKE 1 , 

To use these services, dial the ABET Access Number of the country you’re in and you’ll get all the 

help you need With these Access Numbers and your AIKT Calling Card, international calling has never been easier. 

If you don't have an ABET Calling Card or vouti like more infoimation on AKT global services, just call us using die 

convenient Access Numbers on your right. 




Armenia* 4, 

Austria*** 

Uri gl mn* 

Bulgaria 

Croatia?* 

Czech Rep 

Denmark* 

Finland* 

Prance 

Germany 

Greece* 

Hungary* 

tadandha 

Ireland 


1-U00-881-011 
♦ 10811 

018-872 

800-1111 

000-117 

001-801-10 

pQ»-m 

009-U 

11 * 

8004011 

000911 

, 105-11- 

235-2872 

axHnn-m 
- -430-430 

0080-10288-Q 
001^991-1111 
EUROPE 

. 8a14111 

022W4TU 
0800-100-10. 
00-180WJ01Q 
994M011 

00- 420-00101 
8001-0010 

9800 - 100-10 
: .19A-0011 

0130^)010 

. .00800-1311 

ooa-8ooohu 

999-001 

1- 800^50-000 


COUNTRY ACCESS NUMBER 

Italy* 172-1011 

y whw-Mftdn- 15500-11 

TWimmflc 8*196 

Laxembourg - - . ■■ 08004 ) 111 : 

Macedonia, F.YJL of 99-800:4288 

Main* 0800-890010 

MTOcrtY ' 19*-0011 

Ma bcria mfag - 06022-9111 

Mocror 800-190-11 

Poland**** 0*010-480-0111 


COUNTRY ACCESS NUMBER 


PocmgT 


BnariarQMoaoowJ 

flovaUft 


Sweden* 

Swtacdand* 

Pg. 

Ukraine* 


09017 -1-288 
01-8004288 
15V9042 
0042800101 
900-99-0041 
020-799-611 
155-00- 11 
050089-0011 
8 *100-11 


Brazfl - 

Cbfle ~ ■ . 

Cotoribia 

CosnRlca*»- - ' • 

Ecuador*. 

BSalvadofte 

Guatemala* 

Gnyana*** 

Hboduraaw - ■ - ■ 
Mexico*** 9! 

M pmi M g y ^ UwMgpgJ 

, Pamima 
• 'Peru* 

Suriname . 

Uruguay ■ 

' Vensairia**' 


000-8010 

00*-0312 

980-11-0010 ' 

-- 1M .. 

119 
190 ■ 
190 


95-8004624240 

f) 17* 

. ■ : 109 


191 
156 
OtMMO 
'-S0-O11-120 1 : 


CAMBEAK . 

Bahamaa " 1-800-872-2881 


_ . . 3^ , - 

.V * , ( 'J 


MIDDLE EAST 


Bahrain 

Cyprus* 


Kuwait . 

Lebanon (Bdrnt) 


. . 800KX)1 
oaigoQio 
177-100-2727 

800i288 


. 5andhAr^)la 

Twikey 

UAEr*’ 


0800-011-77 

l«j0-10 

00-800-12277 

800-121 


AMERICAS 

AiHtanfaa* OOMOMOM1U 

Bdtoe* •: 555 

BoBvEr ‘ 0-800*1112 


Bermuda* 1-80M72J881 

BdllshVJ. 1-800872-2851 

Cayman islands 1-800672-2881 - 

. Grenada- 1-800^72-2881 

Haar • Miw&zz&y 

Jamalcn ; - : 0800^72-2881 

NetiLAnfll.., . 001-TOW2-2881 
SLKiraVNevia _ - 1-800^72-2881 

‘ AERKA 

Egypt* (Calrol 9MHMOO . 

GaboaT . OOa-OQI 

famhb* ~ ' ~ •• ■ 00111 

KenpT ! • OBQfrlO 

tl&eria - 797-797 

Sontii Africa 0-800-99-0123 










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