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PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON JPOST 


Paris, Saturday-Sunday, June 18-19, 1994 



No. 34.618 


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Missing After German y begins lts Defense Triumphantly fGood 0 men, 

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With Murder 

Agreement to Surrender 
Apparently Breached 
^4s Simpson Disappears 

l ompilrd by Our Staff From Dispatch t3 

LOS ANGELES — 0. J. Simpson, the most 
bntliant professional football player of his gen- 
eration. went on the run Friday just before he 
was to be arraigned on charges of murdering his 
former wife and a waiter whose corpses were 
found outside her home. 

A Los Angeles police official stunned a press 
conference with the announcement that Mr. 
Simpson was a fugitive from justice. "The Los 
Angeles Police Department right now is active- 
ly searching for Mr. Simpson," said the official, 
David Gascon. “The Los .Angeles Police De- 
partment is also very unhappy with the activi- 
ties surrounding his failure to surrender." 

Mr. Gascon said, “We hope to have him in 
custody soon." 

Through his lawyer, Robert Shapiro. Mr. 
Simpson had agreed to surrender for a formal 
arraignment in a Los Angeles court. 

Then, a few minutes before Mr. Simpson’s 
scheduled appearance at police headquarters, 
Mr. Gascon conducted a press conference, 
where he declared that Mr. Simpson had disap- 
peared. 

The charges — which could carry the death 
penalty — came as a shock because "of the quiet 
dignity Mr. Simpson projected in a public life 
that followed his athletic career. In recent years 
he was an actor in movies and television and a 
sports commentator — a famili ar and reassur- 
ing presence. 

The formal complaint against Mr. Simpson, 
filed earlier Friday, alleged that he “did wilful- 
!}. Jnlau fully and with malice and afore- 
ihr.ught. murder Nicole Brown Simpson, a hu- 
man being." 

“It is further alleged that in the commission 
and attempted commission of the above of- 
fense. said defendant, Orenthal James Simp- 
son. personally used a deadly and dangerous 
weapon. To wit: a knife," the felony complaint 
contended. 

The same charge was repealed for the murder 
of Ronald Lyle Goldman, the waiter. 

Investigators had made no secret of the fact 
-- mce the murders Sunday nigh t that Mr. Simp- , 
4 ; \ was 2 prime suspect in the killing of 
Simpson, 35, and Mr. Goldman, 25. 

In the days that followed the killings, the 
police leaked details erf their investigation: the 

See QJ-, Page 4 


Russia to Sign 
Wednesday for 
New NATO Ties 


Compiled ty Ow Staff From Dispatches 

BRUSSELS — Foreign Minister Andrei V. 
Kozyrev of Russia is to sign the Partnership for 
Peace accord here Wednesday, initiating a post- 
Cold War relationship that is expected eventu- 
aliv to far exceed a basic cooperation program 
with the North Atlantic Treaty Organization. 

A NATO spokesman, FJorem Swijssen, said 
Friday that the Russians had informed the 
alliance that Mr. Kozyrev intended to sign the 
accord at a ceremony Wednesday at NATO 
headuuarters. 

He' said that the U.S. secretary of state, 
Warren M. Christopher, and other allied for- 
eign ministers would attend the ceremony. 

Russia and NATO will also issue a document 
on the relationship they want to develop be- 
yond a basic partnership, officials said. 

One diplomat, who asked not to be named, 
said that this would in volve_ consultations on 
European political and military matters, on 
. nuclear ■inns and safety issues and on prevent- 
ing the spread of arms of mass destruction to 
unstable governments. 

Russian and NATO officials will begin draft- 
ing a text during the weekend. 

NATO officials again stressed that Russia 
would not be given a say in how the alliance is 
run. 

"As to direct participation in NATO bod- 
ies." a diplomat said. The answer is dearly, 
•No!' ” 

Nor will NATO yield to a demand by Mos- 
cow that it scale back its role as Europe's 
principle posi-Cold War security organization. 
Moscow has demanded that the alliance place 

See NATO, Page 4 




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Bolivia's Luis Cristaldo pressuring the German midfielder Stefan Effenberg mi Friday in the World Gup opener in Chicago. 


• • : By Ian Thomsen 

International Herald ’ TrSnatP ^ "■ ' ■■ 

CHICAGO — Defending champion Ger- . 
many opened the World Cup on Friday with . 
a UO victory over. Bolivia, a result -morc-- 
exdting than the score might have indicated, 
and therefore flhmrinating to the largely un~, 
certain American audience. 

The Germans were skittish in the opening/ 
minutes of thrir first meaningful game since 
losing the European Championship to Den- 
mark two years ago. No doubt the surround- 
ings added to their nerves. Remnants of 
streamers and teenage Americans in strange 
costumes were stih being cleared when the 
Gennanswandered across the field practical- 
ly. unno ticed — the defending champions, 
masters of the world's greatest game. 

They had been deprived of tbor traditional 
. stadium warmup fay a ceremony of unques- 
tioned enthusiasm and a revealing pointless- 
ness. And so the spirit was exactly right, the' 
best anyone could nope for. Joao Havdange, 
the Brasilian president of the international 
soccer federation, FIFA, was applauded 
while President BOl Clinton was received 
with a bass of booing: but then ignorance is 
bliss. 

thisWririd Grp^finaUy coalesced outsidtetf 
Soldier Field as the majority of spectators — 
apparently suburban Americans — found 
themselves merging with the ethnic cultures 
which happily will assume a professorialrole 
over the ensuing month. For those Americans 
who genuinely love their Milquetoast version 
of the game, the singing and flag-waving 
passion was something foreign and-never 
properly explained — now it was here among 
them, chanting and dancing. Inside the stadi- 
um the loudest roar came up after the Ameri- 
can national anthem — not out erf rivalry but 
rather in spirit, in the proper spirit. 

Then, suddenly, it was here. The game was 
in play and the Germans, already in a lather 
before the opening whistle, were slow to es- 
tablish their strengths. The referee, Arturo . 
Brizio of Mexico, was not so hesitant — - 

See CUP, Page 23 . 


U.S, Prepares to Ship Military Supplies to Rwanda 


By Thomas W. Lipprnan 

Washington Post Service 

WASHINGTON — Shipments erf limited 
amounts of U.S. military equipment to African 
peacekeeping troops in Rwanda are set to begin 
Sunday, but there are growing fears that the 
ethnic carnage in Rwaada will spill over into 
Burundi before the_ptx.cek«pcr a ore fully de- 
ployed, Clinton administration officials said. 

Stung by criticism that it has done too little, 
too late to stop the mass killing in Rwanda, the 
administration presented officials from three 


agencies at a White House briefing to stress that 
Washington has contributed more than $115 
million in humanitarian aid to Rwanda and 
Burundi in the current fiscal year, and that 
more is coming. 

They stressed the difficulty of deciding what 
to do and who should do it in Rwanda, aJawles* 
couuuy with .io effective guveroineat, with 
□unions of desperate people fleeing the fighting 
mid fragile neighbors apprehensive about ac- 
tions that might affect them. 

Speaking on condition that they not be iden- 


tified, the officials recounted what they said 
were the administration's efforts to rally an 
international community paralyzed by the ex- 
tent of the killing, and to marshal assistance for 
the hundreds of thousands of Rwandans , who 
have fled their country since civil war erupted 
April 6. if ..- . ...A: 

j "We even paid for removing corpses from 
Lake Victoria," one of the officials said, ex- 
plaining that it was a health precaution. 

But loey said the aid effort, and the work of 
Ghanaian and other African peacekeeping 


■ troops, could easily be overwhelmed by anew 
outbreak of violence between the same Hutu 
and Tutsi tribal groups in Burundi if an esti- 
mated 2 million Rwandans fleeing rebel troops 
cross the; border into BonmdL 
Burundi /had' its own mass bloodletting in! 
. fighting between Tins s a&f JJntjis lustfall after 
the eouQtry*s first wedy elected president was; 
overthrown in a coup. The current, Rwandan 
-crisis erupted when the replacement president 

See RWANDA, Page 4 


Carter Says; 
U.S. Unsure 

White Houseand Asums 
Want to Knew North 
Has Ghenlnto Pressure 


By David E Sailer 

- Hen/ York Timas: Seeritx 

. SEOUL —In a perplexingead to his mission 
to North Korea, former President Jimmy Car- 
ter embraced the country’s 82-year old leader, 
Khn n Sung, on Priday and_called the trip "a 
good omen fcnr the future," whfle- the. white 
House and the Asian allies straggled to under- 
stand if the North: had given, in or simply 
muddied Ihccase for Umteofllations sanctions. 

The unusual sTgbi ofaforuKr president ne- 
gotiating directly with the dictator who started 
the Korean War 44 years ago took "another 
-strange twist when Mr.. Carter reassured bis 
host that the White House had "stopped the 
- sanction activity in the Uni led Nations^ related 
to' the North's nuclear p rogr am . Mr. Khn was 
obviously pleased. ' “ . ’ 

' Bat bmirs later, Mr. Garter was contiadicted 
by the White House ^spokeswoman. Dee Deo 
Myers, and Jjy' the Qihton ^’administration’s . 
chief coordinator dm Korean issues, Robert L- 
CntiluccL Mr. Gafiucci said l»w^4iying to 
verify, through di plomatic the exiict . 

meaning erf Mr. Kim’s vague promises to oj»n 
up his country's, nodear fadEths after b> gb ' 
iwel official tafts whh Washiagton. ' 

Until they caft detenrane if the p romises 
cou&hnte a new initiative. Mr., GaDucdisaid,: 

"we are going to continue coosuhatkms in New . j 
York on a sanctions resoIatioE." , » -• 

- Simflarfy ; as ti»y were headed oat an Mr. 

Kim’s yacht, Mr, Carter said the Clinton ad- * .. 
rmnistration had‘^provirionaByagreed”to.go. 
ahead with the high-lcvd talks that North Ko-^ : -• 
^ea'haslongcfclnanded- , . : • 

Bui" American officials said thererwiotdd Jre : 
no sucfa : talks unless they determined that Mr. " 
Kim had .actually affeed to “freeze” the . 

' North’s nudear program, assuring riiatit could 
not produce more weapons from the nuclear 
fud it has recently extracted fremt its largest 
reactor. Still, there were reports that Mr Gal- ' 
lucd might soon meet ascakxr North Korean 
official. . ■■■*".,■ • • -j .. . . r'. •. 

. - . There was suspicion , jUa- ntighi . 

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Islamic Vigilante Justice 

Critics Say Pakistani Blasphemy Laws 
Fud a Rise in Religious Fanaticism . / 








By John Ward Anderson 

Washington Post Service 

LAHORE, Pakistan — It was a classic 
gangland-style shooting, but the targets were 
not Mafia dons, drugs dealers or informants. 
They were Christian defendants in an Islamic 
blasphemy trial, and the gunmen were reli- 
gious fanatics. 

The victims, including 13-year-old SaJamat 
Masih, were standing at a bus stop here two 
months ago when three men on a motorcycle 
drove by and sprayed them with blasts from a 
pump-action shotgun and a small caliber pis- 
tol according to police reports. 

Salamat, the youngest person ever to be 
charged with blasphemy in Pakistan, where 
the crime carries a mandatory death sentence, 
was shot in the hand and dived under a 
nearby car. A co-defendant, Manzoor Masih, 
40 and the father of 10 children, was fatally 
shot in the back, side and bead, and another 
co-defendant, Rehmat Masih, 37. was criti- 
cally wounded in the stomach. John Joseph, a 
social worker who had been accompanying 
the trio, was shot through the neck and jaw. 

Tt was a state of frenzy," said the defen- 
dants' attorney, Naeem Shakir, who ran to 
the scene from his office shortly after the 


against a rise in religious fanaticism, the other 
against the counuys blasphemy laws. 

Critics charge that the laws —which man- 
date death for anyone who “by any hnputa- : 
tion, innuendo,' or insinuation, directly or 
indirectly, defiles the sacred name of the 
Holy Prophet Mohammed" — are being 
abused by Muslim fundamentalists to harass 
Christians and other minoriti es. 

Although no one has been executed under 
the lows, aides say that they are routinely 
abased by fanatics to settle personal scores. 
Frequently, they say, blasphemy cases hinge 
on flimsy evidence and end up pitting the 
testimony of Muslims —who account for 97 
percent of Pakistan's 126 million people — 
against the word of minorities. . 

Suspects often are jailed without being 
officially charged and held for years without 
bond mule religious extremists whip local 
Muslims into a frenzy, malfing a safe and fair 
trial almost impossible. 

The victims arc not always minorities. Two 
weeks after the bos stop assault, a devout 
Muslim doctor in the town of Gigranwala. 
about 120 kilometers (75 miles) north of 
Lahore, was killed by a frenzied mob after he 
slipped at his home and accidentally burned a 


r o » auti yuu* • 

" United Nailcais mspectflra-to^ 
country did constitute progress, but onlyui the 
nanowest sense. Until Monday, when the 
North Korean government announced it .was 
leavmg the International Atomic Eaetgy Agen- 
cy- tire continued presence of those inspectors 
was taken as the fuffiUxnent of a trcaty obliga- 
tion. •' -■ • . 

In Seoul, officials said Mr..' Carter’s -trijp of- 
fered some new opportunities, btit was also 
filled with risks, and they dearly feared that 
Mr. Carter was not in dammaha of the com-' 

. plcxities of North-South. relations. 

“I . think that tbe-UJ5> has the same view we 
do, a mix of concern and expectation," a top 
South Korean official said. Friday. Several 
Asian -diplomat* said Friday that the. Clinton 
admimstration wasxai^u unprepared for ne- 
gotiations through Mr. Carter, who wasostensi- 
My on a private visit. . 

The C StosimUbo, one of South Korea's most 
prominent newspapers, said in the edition pre- 
pared for Saturday that South Korea “could 
not hide the bewildennehf at sudi a turn of 
events.” 'j • 

"That isnothing new in the North Korean 
proposal" it said. It added that “for an adrain- 
istratum that has been emphasizing its dose 
cooperation with Washington, h was difficult 
to mac us dissatisfaction with Clinton'’ for 
speaking. before sorting out the North’s inten- 
tions. 

JS:^ ^ Mr. Kim's statements, 
janrailarly as., they filter down through the 

hahfru vt .i tr “ 








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'Rethink’ Sought on AIDS Research 


American Juries Are Suddenly Becoming Stingier 


PARIS l Reuters) — Dr. Luc Montagnier, 
the co-discoi’erer of the AIDS virus, called 
Friday for a drastic rethinking of research to 
overcome failures in the hunt for a vaccine 
and treatments. In a speech to health minis- 
ters, the French scientist said that although 
he was not discouraged by what he called 


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Lebanon ...USS 1.50 U.S. Mil. (Eur.)Sl.lO 


“meager" -results, researchers “must first 
cany out a heart-rending rethink of our 
beliefs.” He said efforts were needed to 
make vaccines against what he called the 
more central dements of the virus. 


Crossword 


Down 
$ 34.88 

i£. 3.776.78 

The Dollar 

New Yt UK 

DM 

Pound 

Yen 

FF 


PageS. 


Up ^ 
0.46% ■*’ 

112^7 V 

nwrtxoi 

— 

"l'52 

103.3S 

56658 


By Richard Perez-Pena 

■ V ^ H l’w* Tuna Service 

NEW Y ORK — In this land of big lawsuits, 
the growtn of mulumillion-dollar jury awards 
has been halted: Junes nationwide have be- 
come markedly tougher on people who sue 
doctors, insurance companies and other deep- 
pockets defendants, siding less often with 
plaintiffs. 

In 1992, plaintiffs won 52 percent of the 
persona] injury cases decided by jury verdicts, 
down from 63 percent in 1989. according to 
Jury Verdict Research, a legal publishing con- 
cern in Horsham. Pennsylvania, that is the only 
one nationally to compile such data. And there 
are indications that the downward trend con- 
tinued last year. 

The research also indicates that, despite the 
occasional colossal award that generates great 
publicity and revives claims that juries have run 
amok, the size of awards has leveled off. 

Theories abound as to why the shift has 


occurred, but the most widely accepted seems 
to be that criticism leveled at juries and iheir 
peredved largesse by two of the most affluent 
defendants — the medical profession and the 
insurance industry ' — has sunk in! - 
“There's been such a campaign by the insur- 
ance industry, by people like Dan Quayle, say- 
ing these ins awards are killing our society." 
said Brian Sheoker. editorial director erf Jury 
Verdict Research- “People see this in the media, 
and when they get on juries they think, Tm not 
going to contribute to this.' " 

James F, McHugh, an associate justice of the 
Massachusetts Superior Court, said, “There’s 
less of a sense among juries that it’s other 
people’s money we’re dealing with.” . 

Jurors, he added, “are aware that we all pay 
these costs” in the form of insurance premiums. 

The odd tea of this altitude, lawyers and 
judges say, is in personal injury-cases, in which 
individual plaintiffs are often pitted against 
corporate defendants and, almost invariably, 
spine t the defendants’ insurance companies. 


By contrast, practitioners say, jUTO^’. attitudes 
have not changed in cases of contraa dfeputes 
or fraud suits, for example; thaftend-to^niCffle 
company against another. - " 

Some lawyers, like Stephan Peskm, president 

erf the New York. State Trial LawyettfAssoda- . 
lira, say they have seen no end«*w erf grater 
jury skepticism regarding^ pKdtiffs’ claims. 
“Jurors still do what’s right,* fee said. “I think 

1 1 ‘ - ~~ filterarl 


through sane very obseryant tSto.’* ' 

But the nnmbetf^jXHnt 1 

trial in peramal injaIy^niC’^^ I ^■ I ^^ 
ably litdc, nevar riang^j^wg 
f allino belmw W TMreent In aOV VftSf, Then ISffiC 


"Tw seen a khkl;<*^tonsa , yat«m imwng- 
jurors, and yOT get d^a^an^rert&^ tto 
you m^rnb r.&ra 

Supreme Cwrt. "Juttxs ^ss^.toey'ra vay «a- 
ceroed about tfib higty^oicts’yoii.tead about 




r 5 Maenoam — and 
t^re yety cmcermto about the high costsfS 

health care and insurance." ■ ot 

Cha ™ n °f the medi- 
ral malpiattice ooaumttec of the New VWv 

C^myLawyers Assocdition, said, “N w h2 

■■iSSSSk C°aa- 

ssas&.-gyss 

Bar Association, sitid tdev^n^rf 8814 ? 111 ' 








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international herald tribune, saturday-sunday, JBNE 18-19, 1994 


Moscow Mayor’s Star on Rise 

Is He a National Power or Just a Local Boss? 

By Fred Hiatt Russia’s largest brewery and sever- owned factories and stores to be 

Washington Post Service al real-estate and hotel ventures. sold off — in pan to workers at 

MOKXW - The standoff be The mayor or his deputies often 
Iw ^ n . Prestdent Boris N. Yeltsin turn up on the boards of joint ven- ^at every hioh«t bid- 

andmeholdover Congress of Pco- turesld companies thai do busi- 

^® s , E ^P UQes was nearing a dimax ness with the city, according to an- * r, l h Jji; n o 

Sf* ** a funrin 8 legislator de- other newspaper. Novaya Gazeta. nronenv his 

man ? d ° n nation *l television which said that documents do not or - n 

7" dismissal of Mayor Yuri make dear whether the officials are wa /l n Sf c ?,-? mnwor 

Luzhkov of Moscow, a Yeltsin toy- doing this as private individuals or Mr- warned 

*£., , on behalf o[ ihc city govemmenL 


doing this as private individuals or 
on behalf of the city govemmenL 

Suddenly, from off-camera, a “The mayor has turned Moscow 
opontmg, derisive “Ho-ho-ho!” cut into a virtual fiefdom. monopoliz- 
through the speaker’s complaint. 

Astonished, the legislators fell si- 
tea as the mayor himself, gripping frvwff to 

the lectern, dismissed their de- ne ® lu 

™5t. v stick his finger in 

unly the voters of Moscow can . 

Tire me," Mr. Luzhkov said with every pie. It S 
supreme confidence. . * 

More than a year later, the Con- cXlOruon. 
gress of People’s Deputies is gone. An American lawyer 
Moscow s obstreperous City Coun- 
cil is gone and Mr. Luzhkov him- * — 

iT** 1 ^ ms f iv ! I baJ ? mg all commerce and transport," 

rasSwfiS “ “Z; 

55 «SS srasSSSS 

me ? U °M have changed from a struggle be- 
YelLsin° lenlliJ SUCCCSSOr 10 Mr tween reformers and Communists 

To some, Moscow’s mayor has » f “ “SS” for ^ Sp ° Us ° f 
emerged as a hero, a scrapper who PJSf*. y .' . „„„„ nnai 

plunges into the icy Moscow River out t££?Xre but^ 

pl^ho^Kt^srovi^es JJaimfor- Moscow - caUcd for 111051 stalc_ 

ganized crime bosses and traders 

from Armenia and Azerbaijan. 

whom many Russians view as wily. — 

dark-skinned speculators. 

To others, Mr. Luzhkov is a des- 1 
pm ruling over a corrupt adimnis- 
(ration who stymies entrepreneur- 
ship and investment by keeping his ,, , 

hands in every possible venture. He By Steve Vogel 

controls everything from the sale Of Washington Pest Service 

valuable land to the appearance of HAMBURG — Some “ ave 

neighborhood shopfronts — shown up unannounced at the door 
launching plans for grand sky- of the Paulus Church in Hamburg s 
scrapers and amusement parks blue-collar Allona neighborhood, 
while many city roads are practical- nervously asking for help. Ojhers 
lv impassable due to potholes. have been brought by neighbors. 

Certainly, for anyone wanting to 

do business or make deab in Mos- ^ f “ m ^ Gerra *, Jlce. 
cow — and one-third of forc‘d ^ unsuccessful asylum- 
mvestment m Russia ends up here foreigners who came to 

— he is the man to see. Germany looking for a new home 

The mayor often seems to enjoy , n*nn«is to stav have 

playing the role oT aU.S.-style ma- mmed down by a country 

chine boss — “Rjcharf L Luzh- had i{& rai of refugces and 

j. <■ — i" 

mayor. Richard J. Daley. m g ut acrass ^ country, more and 

To an audience of Annan m0f£ ^yium- seekers have been 
btisinessmenihis week, Mr. Luzh- saacuaxy by churches, such 

k t wd , d n °t^ toapoto^efor they had come as 

the mine, comipuon and murky ^ ^ ^ memory 

legal structure lhal di«;«wra|e j given ^mary during the 
many investors. Instead, he berated ^ ^ ^ shame lhal nol 

American businesses for lagging rf 0 nc — a growing num* 

behind their European counter- ^ Q f c hurcbes are making use o! 

* ,a £n, m u,v ^ ting h ??- t 4, dvil disobedience to resist an asy- 

Those who really want to do view as inhumane 

business ^ fact do business, solv- Ending t0 public 

^nSL^ C ^ P Sd ei ^Thev re? UD about asylum-seekers flood 

another, be saiu. “They set up ; n o f^miany from Eastern Europe 

joint vraimres. which ^ always JJf rica ^ olbcr areas, the Parlia 
successful and always reap prof mfim ^ Bona vote d t0 sharp!; 

; u Th.Mo K owci^ r ,~ sgjr“M£i 

afflah SBsssssS 

!SS. - 5S— * 


f He’s trying to 
stick his Huger in 
every pie. It’s 
extortion/ 

An American lawyer 


or leasing dty-owned property his 
way, refused to go along. 

Mr. Chubais accused (he mayor 
of breaking the law. He warned 
that the mayor was provoking a 
“social explosion" among workers. 
Finally, he appealed to the nation’s 
top prosecutor, demanding that 
Mr. Luzhkov be charged with crim- 
inal negligence. 

Moscow's mayor would not 
yield. When Prime Minister Viktor 
S. Chernomyrdin ordered Mr. 
Luzhkov to get in line, Mr. Luzh- 
kov still refused And last Friday, 
Mr. Yeltsin sided with the man 
who had stood by his side during 
the bloody confrontation last fau 
with the congress. 

Many lawyers and businessmen 
complain that Mr. Luzhkov’s insis- 
tence on keeping the city bureau- 
cracy involved in so many commer- 
cial enterprises opens the door to 
corruption. “It’s pay as you go," an 
American lawyer said. 

“He’s trying to slick his finger in 
every pie,” said another. “It’s ex- 
tortion" 

Mr. Luzhkov dismissed all alle- 
gations of corruption in city gov- 
ernment as absurd. He said his ef- 
forts to develop business in 
Moscow were only intended to in- 
crease city revenues. 


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Madrid^hakes Up 1 ^ e :^^^»^ sn r'S! 

MADRID fAP) — The tn™ sK5r ? f :i’fSjce < Lid paranuliUO 
most of the senior coaunaodcnof^J^ tbeir search for a 
Guard on Friday as the authorities con funds. , fhre{ . 

Ova Guard chief accused of getting the dismissals ^ thr 


deputy firedors of tile OvU were 

o&l^MtitmalpoUce^^ooerandnis v 

of their duties earlier in tlw wedt. . wcK conadered ctojj * f 


UUViauwuu vw IT | | 

Israel Won’t Free 1,300 Pf 

sign a pledge to give up violence. - • Palestinian prisoners under 


army statement said. “Their remamn^ is of their own ’■«i 


dri diSSom 


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the medicine s manraacraren ruuy.- -j *h- noisoning ap- 

A- spokesman for *e 

pcarJioSveonly one bottk ct ^SSiSSS^SiS^ parent 

company had recalled ah unopraod bot^sof . spiking was 

company, state^owned Rbone-Poulrac Ro^, »id a 

“neitha- linked to the product nor a manufacturing error, but ceruu , 

c riminal acL r ; ... • .. 7 j ’ „ 7 L:— i«o jess than an 


._,u VkabcHT RntEimm -TV Awieiawl Erav. 

GOING NATIVE — President Boris N. Yeltsin trying on local dothing b KyzyL m eastern Russia. 


Churches Take on Bonn Over Asylum-Seekers 


U.S. May Punish Pilots in ^Shootdown 

WASHINGTON (LAT) —The Climon administration isTadng pres- 
sure over whetbrn- kj disdpline the pflbts of the US. wurptos dm 1 slpt 
down a pair of, American hOcopia^ in the no-fhghi 
northern Iraq two" mahths ago, accordmg ’to. sources farruftar with me 
case. 


By Steve Vogel 

Washington Post Service 

HAMBURG — Some have 


go underground after they are 
turned down. 

“The churches must show the 
state that what it has done is un- 


" ninut "' u ' sate that what u has done is un- 

shown^im^our^at thedMr said Wolfram snuffer, pas- 

of the Paulus Church in Hamburg s J Paulus. a Lutheran church 
blue-collar Allona n«8hborhoi^ a leadillg ro lc in 

nervously asking for help, .Others actuary to asylum- 

have been 5j^2 lt n T<t5 Hamburg. “It may be the 

fnends or other contacts. They all . . ^ right." 

nitni the unv thine: a place to . ... i. .lu,.. 


law with defusing tensions that had 
led to a rise of neo-Nazi violence. 
Pastor Stauffer instead sees dark 
parallels with the past- 


or losing their lives or their liberty 
if they returned to their homelands. 

“If I hadn’t come to the church, I 
would have been out on the street 


.... r with my children,” said a woman . — . — e — - , : — r 

“The deterioration of rights for J by Paulus for have thus far been unwilling to ap- 

refugees, dial's the my it was for ^ aulboriti€S prebend those under protecuon of 

the Imk rinnnff I hi*. Third Reich. ... um l u AuhJim nlthnnoh thpv hitve no 


churches most active in protecting 
refugees are located in poorer 
ndgbborboods, such as Altona, an 
ethnically mixed noghborhood. _ 
Fearing bad publicity, the police 


A formal repon.on tne rnaqenL on us wq». ^ 

military inv^gatio^isocpcctcdto^nm 

lead firiner pilot, rdying on.^ visual obsmanon; Kmaoqk the hetKM^jre 
lor Iraqi ^ 


— . , naj enurenes. rruuauuu ouu 

They are unsuccessful “y^ 111 "' has sprung up around Germa- 
seekers, foreigners who came to c^Xatkg at both the local 
Germany looking for a new home ^ ^ levd providc re fu- 

but whose requests to stay have pMS 


that has taken a leading role in during the Third Reich." 

organizing sanctuary to asylum- ^ Pastor buffer. “More and 

seekers in Hamburg “It may be the ^ ^ t^en away, and hSnes. owned by 

law. but it’s not right." r t finally Seir lives were taken away. fi 2TS 

An tnform^network of about why lhe changes to the asy- ml OMhir- 

200 churches, Protestant and Catb- him law ui year were an alarm botn are tun, one oar 


inree hkhuiu ouuimi>m r; — , — . * , 

agreed .o la.her say. “n« chord. 


l«al protection. “We have legally 
adopted asylum policies in Gmma- 
ny that everyone should follow. 
That goes for the churches as weU," 
Interior Minister Manfred Kanther 


but whose requests to stay nave . . . . 

8 “Civil disobedience simply is .... 
that has had its fill of reh^osMd a strong in Germany, but 

is deporting them in ever-tnereas- noncl j K .i ess a strong movement has 

in® numbers. , developed.” said a spokesman for 

But across the country, more and lobb , ■ 


lum law last year were an alarm . ^ f|0m Togo ^6 an- Interior Minister Manfred Kanther 

that our democracy could become famDyhom Tur- has warned. - • 

undone. ^ On a recent evening in Hamburg, 

Officials in Bonn say that those ^Ve're building a network, but leaders from, more than a dozen 
being evicted are not political but vve need more hiding places,” said churches gathered to discuss strate- 
economic refugees, people seeking peter Hueltemann, another pastor gy. ..... 

a piece of the fabled German good at Paulus. Pastors and church activists dis- 

life, facing no threat other than Many parishioners are willing to pissed how to cajole parishioners 
poverty in their homelands. Asy- nut up refugees for a week or two, into providing hiding places, how 
i. sUcnntA >hk nnint- u.., u.n, a. of nnivutino to raise monev and where to find 


But across the country, more ana in i^bvine poverty in their homelands. Asy- put up refugees for a week or two. mro proviumg immi e — - 

more asylum-seekers have been . f^—inpr^nphts. lum supporters dispute this, point- but balk al the idea of providing to raise money and where to find 

given sanctuary by churches, such f A df JSi churclU in Hamburg ing to deponed Kurds who they say shelter for an indefinite period ^ympathe^lawyers doetorsto 
as Paulus, where they had come as • Mvlum-seekera. ac- were mistreated upon their return while .the church works to obtam donate medical and k^al services, 

a tel resort, invoking »>? m««P * » Turkey. Wiqm. .. . . "LS2L“S5t 


Thud R^-udshmeitai not 

more was done — a growing num- ^ m Cologne. 

ber of churches are making use of , n_vnria last month, fearing 


to Turkey. legal papers. Some of those attending said 

Th* Panins Church has hidden Most parishioners support lhe they were motivated at least m part 

program, o^ering cash tunable to by a sense of shame that the diuich 

years, all of whom, P Pastor house refugpes thermelves. aaordr. ^ U10p “ 

Wf^T^intains. were in danger ing to pastors. Many of the posing the Third Re«*. 


dvil disobedience to resist an asy- 


ln Bavaria last month, fearing 
that police were preparing a raid. 


ICKol LMUrad- — . * \ • 

Most parishioners support die they were motivated at least m part 
program, offering cash if unable to by a sense of shame that the dmreh 


meniDCn UlU iWWiuiua a uui um *"W uiMwjr"—. — -TJ. f ■„ 

Defense Sectemry William J. Perry is aamng imder pressm from 
some Gi militeiy offioera to court-martial the^piloroo 
neshgence- But (he air force chief of staff; General Merrill A. McPeak^ is 
said to be strongly opposedto any such actios, on grotmdsjhat the pilot s 
TTwgf«fa> was understandaMe undear the rules of war; The.- deos»cm| is 
expected to beu-difficuitooe for an admimstraikm that already has npd 
its problans with "the uniformed scnvx&rr - ' \ 

China Proposes MssxttiBoit Deaths 

- -TAIPEI (AP) -=r- China invited Taiwan on Friday to high-level taUts jto 
mt»d a rift caused^ fry the murder of 24 Taw-anise tourists puja. 
pleasurcboaL . . • . . - ■- 

The kMhgs an March 31 soared relations between the. two govern- _ 
meats after seven years in whkh-Taiwan and. Giimi _had begun- to ease 
• tensions and promote trade and tourism: China imtiaHy dairaed the 4 
deaths were accidental but later changed itseaqpfariatwn, and on Sunday 
a Chinese court eonvicted three men oT roWii% kffling andfrummg ; th(c 
tourists. It sentenced them to death, frnt rda tires of the vmuns contend 
the trial was a cover-up of higher-level culprits. - ... ’ 

A statement from China’s semi-affidal Assodabon for- Reutiojos 
Across the Taiwan Straits acknowledged that the m t m te rs ha d damaged 
the blossoming dfccnte and said tbat “an urgent highrievd -meettug"^ 
needed. Nodate was proposed, but China said tbemeetingscouW be bqtd 
in Taipei,.Begingoir.dsewhere.._:. . . ’ . . • - . - > 

Jakarta Couri Aflows Stncfent Apj^ 


■ maintains, were in danger ing to pastors. 


1, Rue de la Paix, Paris 


Last year, icspondui , io pubhc w pf0 _ 

anger about asy^^s^kers flood- ^ a Kurxiish ^pie and their 
ingGermMy fromE^teni EmoTC, didd ^ ^ been given refuge 
Afnca and other an^, J® JjjJ*. inside. The Kurds have since gone 
ment in Bonn voted to sharply . with the help of the 

tighten its liberal laws affording JjV ° 
foreigners asylum andi w * make it Ncariy a year after the new asy- 
^crfOT the gowr^entto deport lmn ^ went into effect last July, 
those rejected. Almost 95 pwerat ^ declared it a 

^ flh JiSLTrf great success. More than 161,000 
and the pdice haw st^edup foreigners sought asylum in Ger- 
forts to apprehend those trying to during the fust three months 

of 1993; oidy 44,000 came in the 

1 same period this year, a drop of 72 
percenL 

Many more rejected asylum- 
seekers are being deponed; 5,583 
were sent home in 1990, 10,798 in 
1992 and 35,915 in 1993. 

The government credits the new 


on Friday invited students convicted of insnfring Pre^fcnt Suharto to 
appeal a decision a high court to extend 'thtii sentenced 



Medical 

Emergency? 

We're here for you 24/2*. Simply 
call the American Hospital of Paris 
Emergency Service at 47 47 70 15. 
We'U ensure that die highest quality 
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you or your loved ones immediately. 
The American Hospital of Paris offers 
complete medical and surgical care. 
Expertise in more than 40 specialities. 

A comfonable, well equipped 
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please call our 

Welcome Service at 46 41 27 27 i 
during weekdays from 9 io 6. 


American Hospital of Paris 

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92202 Ncu illy Cedex 
TeL: (1) 46 4125 25 


EUROPEAN 

TOPICS 

Father-like Justice, 
And Bobby Is Slapped 

When a British constable, 
Steve GiucotL caught up with a 
smart -mouthed 14-year-old who 
had been harassing an elderly 
couple, he did what be would 
have done to one of his own sons 
— 1 m slapped him. 

But the teenager charged the 
42-vear-old officer with assault 
Anci now Constable GuscotL, 
who has 20 years of unblemished 
service, has' been ordered to pay 
fines and compensation of £150 
($230). He faces a disciplinary 
hearing and may lose his job. 

In a story with echoes of the 
Singapore caning controversy, 
the constable has become a hero 
to many people who are dis- 
turbed about the rise of crime 
and who long for a bit of old- 
fashioned discipline. 

Police switchboards have been 
overwhelmed by calls oF support 
for the officer.' who is ba»d in 
Minehead. west of London. Sev- 
eral British tabloids set up their 
own hotlines to take calls. The 
Sun said it took nearly 55,000 
calls, The Daily Mirror, more 
than 20,000. almost all in the 
bobby's favor. 

“There is a growing sense to- 
day,” The Tunes said in an edito- 
rial “that decent behavior is as 
likely to be penalized as reward- 
ed. and that the legal system 
tends arbitrarily to make victims 
of wrongdoers.” 


A police union spokesman, 
Dick Coyles, added that Consta- 
ble Guscott bad fallen victim to 
“a dilemma that all police offi- 
cers face when they try to enforce 
standards of behavior that ap- 
pear to have gone out of fashion, 
such as respect and consider- 
ation for the elderly." 

Around Europe 

What’s love got to do with it? 
Not much anymore, according to 
a new survey in Germany. 

Today’s Germans are more 
cynical about love, have lower 
expectations, and find it harder 
and harder to utter the words “I 
love you," according to the sur- , 
vey, for the weekly Focus. 

Twenty years ago, nearly half j 
of Germans agreed with (he sen- 
tcnce, “I believe in great and 
eternal love." The figure today is 
27 percenL Germans also appear 
to be applying tougher stan- 
dards. In 1974. 38 percent said 
that they had found their own 
“great and eternal love;" while 
45 percent had not. in this year’s 
survey, only 16 percent had 
found their great love and 73 
percent had not 

Reasons died for the trend: 
The rising divorce rate has creat- 
ed a growing number of young 
people skeptical about “lasting 
love"; today’s “me sodety” does 
not promote the idea of sacrific- 
ing for another; and people find 
it harder to express their feelings 
honestly. 

The Roman CathoBc Church in 
Portugal s planning to issue spe- 
cial identity cards to priests. Fake 
priests, it seems, are increasingly 
common, particularly at vaca- 


tion time, when they come in, 
bear confessions; and then run 
off with the contents of the col- 
lection baskeL 

There appear to be as many 
short-lived new pub&ations on 
French newsstands these days as 
there are people aaUqg-for mon- 
ey on the Mfetro. But one new 
publication has quickly carved 
what looks like a lasting niche: 
Only months after its launching, 
Infos du Monde, a dear takeoff 
of some of America’s more sen- 
sational supermarket tabloids,, 
has sates of 230,000 a week. 

With blaring headlines about 
the “Woman with Three Brains" 
dr the “Man as Thin as a Credit 
Card,” Infos du Monde is hard 
to overlook — or to take Very 
seriously. 

Some stories seem to be re- 
treads of American tabloid fare 
— “authentic" photos of an ag- 
ing John F. Kennedy; a 'story 
about babies smuggled into the . 
United States inside watermel- 
ons but others are a veritable 
sideshow of French inventive- 
ness; the boy whose mouth has 
been stuck open for two years 
(“Ifs practical when I go to the 
dentist" he says), or the man 
who lives with an ax stuck in his 
head (hats are a problem). 

With a look of injured inno- 
cence, Stephane de Rosnay, the 
weekly’s creator, told a reporter 
for Le Point that of course every- 
thing in the paper is true. Many 
readers evidently believe: News- 
stand salespeople say some cli- 
ents think Infos -du Monde is 
published by the ever-scnwious 
Le Monde. : 

Brian Knowlton 


senten ced for .insulting Mr, .Suharto from , six months each id terms 
ranging from eight to Hmooths- Iosnlting the head of state carries a 
maximum penalty of six years in jaiL " ■ .i 
• The studentswere arrested during a protestatthe Partiament building 
on Dec. Mat wffich demonstrators demanded thai.agjedatsessiondf the. 
People’s Consultative Asemhly examine btunaa rights abuses under the 
Suharto administration. A lawyer for the group said the Students, were, 
considering whether to appeaL “ : «■ . 

TRAVEL UPDATE 

i ; — ^ — - — ■ -. ■ > -.1 

Wanning Up the Welcome in irance • 

- PARIS (AFP)_— French tourist industry officials hirye begun another 
campaign to induce their countrymen to warm upJthe^ Crato welcome for 

visitors- ' #• *- . • . . f 

In termn that would be fipniHar to .generations.!"- foreign visitors, the 
campaign organizers lamented “the indifference, the lack of openness. 
Lbemabihty to adapt to new demands, the ihcongnwi^ 
laugnag es and habits” tiMtti ihey said, existed in eve^.taincb pf. ihe 
tourist arid transportotioasccrors. • --' 

It was not jiist the tourist profesaonals who cam&'jh for critiasm: 
traders, bureaucrats, service industry .workers and die .population as- a 
whole were severdy reprimanded. With the niqhber of French-speakejs 
around the world continuing' to decline, the campaign’s organizers are 
setting upa series of initiatives, induding mpltiEngnal telephone services 
to help foreign visitors. Multilingual teams will beset up in Paris airporjs 
and on the dty Mfetio and railway artworks. . f - 
A network of roadbloda on roods into the Oty- business district jn 
. London after two Iridi Rqmblican Army bombings -will be kept on j 
because they help ease traffic jams and cut crime. The City corporation^ 
said Friday that crime in the “Square Mile" felLfey 17 percent last year 
after the introduction of the traffic checks last year- (Reuters) 

KLM Royal Dufdk Afttioes said its partner, Air UK, would take ovn- 
operation <rf ELM’S four times daily service between Amsterdam arid 
Manchester, England, on Oct 30. Air UK wDIuseaFokker 100 instead 6f 
ELM’S Boeing 737, which will be used oii other European routes. (AFX) 
The Naples efry bnscoofNny has dedared war quticket forgers who are 
costing it S62 million a year in lost fares, Italian newspapers reported 
Friday. They quoted ctar council members arid bus company officials fn 
- Naples as saying the Camorra, the -Naples -version. -of the Mafia, was 
behind a racket teat sold the fake tickets through 'newsstands and tobacco 
shops. ‘ 


A es^or fire in an ondosea tamel being built, beneath the Great Belt 
- waterway at the mouth of the Baltic las halteddriHing work for at least to 
days on Denmark’s rail-and-road ffxed-link project. The project, the 
biggest construction enterprise in Danish history, is due for completion 
sometime in 1996. - . - , ( (Reuters) 



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THE AMERICAS/ ©PI©§€ HE1 


S|;5S* . Clintons’ Critic Had Windfall of His Own President 

Gets Delay 


"tit 




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>11 Boat Deal 


By Stephen Labaton 

<Vfv Kw* Tuna Seni ee 

WASHINGTON — Almost evny day for 
-■ weeks. Senator Alfonse M. D’Amato has risen 
- on the Senate floor to deride Hillary Rodham 
Clin ion’s profits in commodity trades and ex- 
,.bort ins colleagues to approve ha»rtq «* to ex- 
■ amine the investments. 

Nowit wms out that Mr. D’Amato, Republi- 
.ican of New York, has also m ad e a remarkable 
profit in a speculative foray. 

Mr. D’Amato, the leading Senate critic of the 
,CKnt 0 ns‘ finances. madeS37.125 in a single day 
. last June in an initial public sale of stock in a 
small California company called Computer 
.Marketplace. 

• The senator is the rankmg Republican on the 
Banking Committee, which regulates WaD 
■■ Street and ovosees the Securities and Exchange 
Commission. His highly profitable trading was 


made possible by a Long Island brokerage firm 
that at the time had fraud charges pending 
against it by the Securities and Exchange Com- 
mission and that has since been fined and 
sanctioned severely. 

The senator said Thursday that bis broker at 
the fixm bad bought 4,500 shares of Computer 
Marketplace at $4 a share and sold them later 
that same day at $1X25 a share. The stock has 
since fallen as low as SI a share. It dosed 
Thursday at S3. 

As the computer company’s underwriter, the 
brokerage firm, Stratton Oakmont of Lake Suc- 
cess, New York, could decide who could buy 
the stock. The. Computer Marketplace shares 
were specifically allotted to the senator’s ac- 
count by his broker, and they were unavailable 
to ordinary investors. 

Initial public offerings involve a limited 
number of shares that are sold to a few select 
buyers, often favorite customers. New offerings 


commonly show immediate profits, sometimes 
quite substantial. Investors who buy and later 
sell in the first day's trading often Have a risk- 
free investment. 

There is no evidence that the senator’s trad- 
ing violated any laws. Other members of Con- 
gress, including the House speaker, Thomas S. 
Fdey, Democrat of Washington, Have made 
significant profits from initial offerings. 

' Mr. D'Amato tried Thursday to distinguish 
Ins investment record from Mrs. Clinton's, who 
pariayed a $ 1,000 investment in commodities 
futures into nearly $ 100,000 more than a de- 
cade ago. 

“I am no Hillary Clinton,” he said. “I wish 
the Clintons had been as forthcoming as I have 
been.” 

The senator found himself throwing out the 
same two explanations as the first lady: Not all 
of his investments were winners, and the trades 
were executed by somebody else. - 


In Replying 
To Lawsuit 







GENTLY DOWN THE STREET — Alan N3sson and his unde, Mike Nilsson, using a canoe to 
Heavy rain fefi at the rate of an inch an hour, causing flash flood warnings across the Iron 


Daa PoMT./'n* Aooctad Pin* 

aromxl Virginia, Minnesota, 
in northeast Minnesota. 


Away From Politics 


•Juries choosing between life 
and a death sentence for comirtednnirderers 
must be told when a fife term would allow no 
chance of parole, the Supreme Court ruled. 
The court, by a vote of 7 to 2, struck down a 
South Carolina law that barred juries from 
learning about a defendant’s inefigihffity for 
parole if sentenced to fife instead of death. 
• As many as five people hare been Ued in 
fishing boat accidents in the last year that 
may nave been caused when their nets be- 
came « tang led with submarines. Represen- 
tative Jokne Unsocld, Democrat of Washing- 
ton, asked the navy secretary, John Dalton, to 
come Bp with a way of warning of the pres- 
ence or submarines. 


• Inai 

les pofice labor dispute, Police Protective 
I -«>g pe leaders have agreed to a tentative 
contract proposed by Mayor Richard Rior- 
dan and other city officials, but the deal still 
faces significant opposition on the City 
CouncaL Sources said the contract offer ac- 
cepted by the union board of directors would 
cost the city about $10 million more than the 
deal officers voted down in May. 

• General MBs Inc. halted shipments of 
Cheerios and other cereals made of oats treat- 
ed with an unapproved pesticide, but said 
that the food was safe and that boxes already 
in stores would not be recalled. Shipments of 
Cheerios, Lucky Charms, Oatmeal Crisp and 
Kaboora made from properly treated oats 
will resume in a few days. 

• Tie Cififoraa gnatcatcber has been tempo- 


rarily placed back on (he federal threatened 
species list by the same judge who ordered the 
bird removed from the list two months ago. 
In a ruling May 2, Judge Stanley Spodrin of 
U.S. District Court ordered the gnatcatcber 


meat had faded to make available to the 
public all the data it relied upon when it 
declared the gnatcatcher threatened. Interior 
Secretary Brace Babbitt responded by mak- 
ing the information public. 

• Diesel ex hanst could be responsible for 
causing more than 1,000 cases of lung cancer 
a year, die California Air Resources Board 
has tentatively concluded. The move in- 
creases pressure on the state to tighten its 
already stringent regulations on buses, trucks 
and other vehicles that run on diesel fuel. 

AP, Reuters. LA7 


ludent Appe 

, I - -- j_- \ 

5-^' 



- -.-j 


cans 



on Health Bill 


rc-. -• 



. By Adam Oyrner . . 

■ New York Tima Serrkr 

WASHINGTON — ? At the urg- 
tg o i Representative Newt Ging- 
; their deputy leader, House 
rlkans are trying to keep 
care legislation bum reach- 
ing die House floor in & form that 
couldpMS. 

Despite criticism front Demo- 
"crata and even from one Republi- 
can who - accused Mr. Gingoch erf 

Gingnch sod Thursday that R* 
publicans should vote against 
amendments that might broaden 
the support far a bill the House 
Ways sod Means Committee is 




A lew Ham later. Republican 
committee members followed that 
"prescription; an .14 opposed an 
’ ’amendment to soften the bin’s im- 
' p££'oti'siba& business by provid- 
’Srig taX credits to offset their new 
insurance costs. 

'** But ;Mi. Gingrich’s hardball 
- 'strategy backfired when Demo- 


do^nn&andvotixlunanimous- 
‘Tyfora series <rf amendments, even 
toaugh some made it dear they did 
not Hkelhemand might alter 
'•tateri Several said that Mr. Ging- 

■ “rich's moves had. unified them. . 

. •' „ - - • _ Mt Gingrid i’s comments con- 

• L - r . :orr; -finned in pm accusations of ob- 
f, .^tmcri nwkm that Democrats -have 
• Jevatedat Republican leaders, ay- 
irtog theywere manfio g moderates 
•in that party, and Mocking com- 

■ pomueon any healthcare mlL But 




ur» ^ ^ 


“what they mean by bipartisan is us 
caving in. 

Mr. Gingrich said members of 
bis parly were reasting “selling out 
your prmoples to pass one ML” 

He said be told Republican 
members of the House ways and 
Means Committee that “they 
should do what they think is effec- 
rive m minimisin g the prospect that 

the Gibbons biff will pass.” The 
committee’s bill was proposed by 
its acting chairman. Representative 
Sam M. Gibbons, Democrat of 
Florida. 

The Gibbons bill would seek to 
provide health insurance for all 
Americans by requiring employers 
to pay most of the cost of premi- 
ums for their workers and by creat- 
ing a new form of Medicare; the 
casting health program for the d- 
deriy, to indnde the unemployed 
and others not reached 

^^^Thereia no point in i 
it so it will pass,” Mr. 
aid. “It's a bad bflL 
wrong.” He said the bin would 
cause "bigger government, bigger 
bureaucracy and higher taxes for 
worse health care." 

-Mr. Gin grich, who is all but cer- 
tain to become minority leade r af- 
ter the November elections, con- 
firmed a complaint made on 
Wednesday by Representative 
Fred Granay, Republican of Iowa, 
fit tire -committee meeting, Mr. 
Grendy said Gingrich had urged 


that an amendment suggested by 
Mr. Grandy not be offered because 
the taxes it involved might be used 
against Republican candidates. 

Mr. Grendy agreed not to pro- 
pose the amendment in the com- 
mittee meeting, but he said, “To see 
health care preempted by politics, 
even in die mart nm, is unsettling.’' 

Senators have not made similar 
complaints in public. But if they 
are guaranteed anonymity some 
senators in both parties say that 
presidential politics and a desire lo 


deny Mr. Clinton success have 
driven Republicans to oppose com- 
promising on health care. 

Others insist that they merely 
feel very strongly that Mr. Clin- 
ton's proposal for national health 
in su r ance and various Democratic 
alternatives would be bad for the 
country. They usually focus on the 
damage to small business they fore- 
see if employers are required to buy 
insurance for their workers — an 
element the Democratic bills have 
in common. 



■iSSTi itty O’Shea’s 

•'THE IRISH PUB 




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■?. if a beccHtting dearer anddear- 
,-er that they are intoested in frus- 
. hating action,” said Rroresenta- 
Xive Richard A. Gephardt of 
'Missouri, tlx: Democratic leader. 
While Republicans often claimed 
;.ffaat they wasted bipartisan coop- 
«atibn, he^ ^smd,^ ;“fhdr.real inten- 
ition is to, unfortunately, not do 

' Mr. GqAardt said, 

■were ac&qrfib: JYobots.” 

. J In anintermsw, Mr. Gingrich, of 
Gepxgia^ rcsppnded, *T tbmk it is 
Voy sad to see Gephardt reduced 
to a Ctiritcm Jevd erf dishonesty.” 
He said Rqjtdilicans had repeated- 
ly offered to woric with Democrats 
on health- cave legislation, but 




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LITTLE ROCK, Arkansas — a 
federal judge has given Preskiem 
Bill Qin ion until Aug. 5 to respond 
to a sexual harassment lawsuit 
while she decides whether he has 
immunity in the case. 

Judge Susan Webber Wright erf 
U.S. District Court said she expect- 
ed to decide before then whether to 
“put everything dse on the back 
burner until the immunity issue is 
resolved.” 

Judge Wright held a telephone 
conference on Thursday with law- 
yers for Mr. Clinton and Paula 
Corbin Jones, the former Arkansas 
stale employee who sued him, over 
whether the president must reply 
Wore the courts have 
whether be can be sued. 

Mr. Clinton's attorney, Robert 
S. Bennett, said from Washington 
that be planned to file a motion 
claiming immunity for the presi- 
dent because ‘This court has no 
authority to bear this case, based 
on constitutional grounds.” 

The Supreme Court has ruled 
that presidents bave immunity 
from being sued for actions taken 
while in office, but it is not dear 
whether they can be sued for ac- 
tions taken before becoming presi- 
dent. Mr. Clinton was governor of 
Arkansas when the harassment in- 
cident is said to have occurred 
Mr. Bennett has said he migh t 
aigue that a president cannot be 
held accountable for actions that 
preceded his term as president He 
asked that the immunity question 
be settled before any response to 
the specifics of the lawsuit are filed. 

Mrs. Jones’s lead attorney, Gil- 
bert Davis of Fairfax, Virginia, op- 
the request saying his client 
aright to see a response before 
the immunity question was settled 
Judge Wnght said it would be 
unusual to allow the president to 
file only the immunity motion. But 
Mr. Barnett contended there was 
legal precedent for that 
Mrs. Jones filed her soil in U.& 
District Court in Little Rock on 
May 6 . Under court rules, Mr. 
Qin ton had until July 15 to file 
court papers responding to the alle- 
gations. Judge Wright extended the 
deadline until Aug. 5. 

Mrs. Jones alleges that Mr. Clin- 
ton made unwanted sexual ad- 
vances in a Little Rock hotel room 
in 1991. 


POLITICAL NOTES 


Whitewaters Political Theater 

WASHINGTON — The hearings on ihc 
Whitewater affair in the Senaie and the House of 
Representatives this summer will not be fact-find- 
ing sessions so much as a political scrimmage. 

Any doubt about that was dispelled this" week 
when the Democrats, by a vote in (he Senate and 
by an agreement of party leaders in the House, 
insisted that the hearings be limited to aspects of 
the case not likely to embarrass President Bill 
Clinton and his wife. Hillary. Republicans re- 
sponded with shouts of cover-up. 

As the situation now stands, the Senate and 
House Banking Committees will hold separate 
public hearings beginning next month. The hear- 
ings will be limited to matters the special prosecu- 
tor. Robert B. Fiske Jr„ will deal with in an 
interim report to be made public this month. 

That report involves questions that have arisen 
only since Mr. Clinton became president, like the 
circumstances of the death of Vincent W. Foster 
Jr., who was deputy While House counsel, and the 
way die Ginlon administration investigated the 
failure of the Madison Guaranty Savings and 
Loan Association. 

Questions about the Clintons* investment in the 
Whitewater real -estate venture, their relationship 
with Madison Guaranty when Ginlon was gover- 
nor of Arkansas, Mrs. Clinton's speculation in 
commodities futures and many other mailers will 
have to wait at least until next year. 

The script for the hearings beginning next 
month is predictable. Republicans will ask the 
witnesses one question after another about forbid- 
den topics. The Democratic chairmen, Senator 
Donald W. Riegle Jr. of Michigan and Represen- 
tative Henry B. Gonzalez of Texas will nile the 
questions out of order. Then a furious argument 
wfll ensue. 

Republicans think this will make the Democrats 
look as if they are protecting the president. Demo- 
crats think it will make the Republicans appear to 
be bullies. Democrats stand behind Mr. Fiske's 
argument that hearing on questions he has not 
finished investigating would undermine his inqui- 
ry. Republicans say they want lo fulfill their con- 
stitutional responsibility to engage in oversight 
into activities by the executive branch. 

But when Republicans were in the White House, 
Democrats in Congress were only too happy to 
investigate the Watergate and Iran-contra rases 


simultaneously with inquiries by special prosecu- 
tors. And the' matters mi which the Republicans 
want to hold quick hearings occurred long before 
Mr. Clinton became president. . N YT > 


IBS, Keep Thy Records Straight 

WASHINGTON — The Internal Revenue Ser- 
vice. which demands that taxpayers be able to 
produce records to back up all claims of income 
and deductions, could not live up to that standard 
itself, according to a study made public by the 
General Accounting Oflice'of Congress. 

In its report, the second annual examination of 
the IRS's financial statements, the accounting of- 
fice was “unable to express an opinion on the 
reliability” of what tbe agency said because of 
missing records, "ineffective internal controls and 
unreliable information.” 

But the accounting office did find Thursday thar 
the IRS had made improvements in many areas 
since last year, and Lhai although the agency's 
records were not good enough to assure there were 
no "material misstatements” in its financial state- 
ments. the spot checks had found no such mis- 
statements. wp) 

Homosexuals Can Seek Asylum 

WASHINGTON — Attorney General Janet 
Reno has issued an order that would allow homo- 
sexuals from other countries to seek political asy- 
lum in the United States if I hey can prove that they 
were victims of government persecution solely 
because of their sexual preference. 

Tbe decision on Thursday affected only a few 
pending immigration cases. Justice Department 
officials said they did not know whether it would 
lead to as increase in the number of gay men and 
lesbians from abroad who would apply for refugee 
status on the ground that they would be persecut- 
ed if thev returned borne. 


Quote/tlnquote 


Representative John Kasich, Republican of 
Ohio, shortly after the House's 234-io- 192 vote on 
Thursday to terminate the Interstate Commerce 
Commission: ”We actually on the floor of the 
House eliminated a functioning piece of the feder- 
al government.” (AP) 


Mrs. Jones s lead attorney, Gil- ___ _ _ _ 

Elbe Bridge Where Armies Mel Is History 

had a rieht to sec a response before ^ " 


Reuters ’ * 

BERLIN — German road au- 
thorities blew np the historic but 
decaying Torgau Bridge, where 
American and Soviet armies joined 
forces finally to defeat Nazi Ger- 
many, the police said Friday. 

A Torgau poice spokesman ctm- 
firmed a report on German radio 
that one xftgnvri of the 124-year- 
old bridge spanning the Elbe River. 
150 kilometers (90 miles) south of 
Berlin, was blown up by highway 
engineers late Thursday. 

He said the rest of the 
which has been closed to 


since a new bridge running next to 
it was completed last year, would 
be destroyed in tbe near future. 

A local group had worked to 
keep the bridge intact as a monu- 
ment. But authorities said that it 
would have cost twice as much to 


repair the bridge as to tear it down. 

American and Soviet army veter- 
ans recently celebrated the 49th an- 
niversary of their famous meeting 
on rite bridge on April 25, 1945, 
before a final onslaught on remain- 
ing Nazi forces. 


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Page 4 


INTERNATIONAL HERALD TRIBUNE, SATURPAY-SUNPAY. JUNE 13*19, 1994 


Pm a Candidate, Belgian Says 


Dehaene Tries to Shore Up Status in EU Race 


By Tom Buerkle 

International Herald Tribme 

BRUSSELS — Prune Minister 
Jean-Luc Dehaene of Belgium for- 
mally declared his candidacy for 
the presidency of the European 
Commission oh Friday, a move de- 
signed to shore up his front-runner 
status and increase the pressure on 
his Dutch counterpart and chief 
opponent, Ruud Lubbers, to step 
aside. 

After a meeting of Belgium's 
Council of Ministers, the govern- 
ment issued a statement saying it 
“gives its support to Prime Minis - 
ter Jean-Luc Dehaene and hopes 
there will be agreement on his 
name” during the meeting of Euro- 
pean Union leaders in Corfu, 
Greece, next Friday and Saturday. 

The announcement merely stat- 
ed in public what everyone in the 
European Union has known pri- 
vately for weeks, that Mr. Dehaene 
was competing with the other de- 
clared candidates. Mr. Lubbers 
and Leon Brittan. the EU trade 


his candidacy peaked with the en- 
dorsement of Germany and France 
at the end of May. 

Mr. Dehaene said contacts with 
EU leaders had revealed doubts 
about whether Belgium's shaky 
four-party coalition government 
would support his departure to the 

FI i Pipnitnw aaf-nnj “I n-inlixl hi 


EU executive agency. “I wanted to 
put an end to those doubts." he 
said. 


Mr. Lubbers has raised the pros- 
pect of a deadlock at Corfu by 
waging a determined and public 
campaign. He has sought to rally 
support from smaller EU countries 
by attacking French-German ef- 
forts to dominate the Union. 


commissioner. 

But by abandoning his charac- 
teristic silence. Mr. Dehaene 
sought to stop the steady erosion of 
his position that has occurred since 


Mi. Lubbers showed no signs of 
throwing in the towel, lobbying his 
case with Prime Minister Silvio 
Berlusconi of Italy. But he sounded 
a cooperative note in a statement 
issued by his office after the Bel- 
gian declaration. 

“Mr. Lubbers has taken notice of 
the candidacy of Mr. Dehaene. and 
he expects an open and democratic 
discussion about the three candi- 
dates." it said. “The Dutch objec- 
tive is to reach a consensus at the 
summit in Corfu." 


EU officials said Mr. Lubbers 
was certain to come under immense 
pressure to step aside, particularly 
from within the Christian Demo- 
cratic Party to which both he a*d 
Mr. Dehaene belong. 

The two men will participate in a 
party meeting in Brussels next 
Wednesday along with Chancellor 
Helmut Kohl of Germany, a keen 
supporter of Mr. Dehaene. and 
Wilfried Martens, the party leader 
and former Belgian prime minister 
who groomed Mr. Dehaene for 
power. 

Mr. Dehaene had not been ex- 
pected to declare his candidacy be- 
fore Corfu because his position at 
home would be weakened in the 
event that he lost the European 

post. 

He said he acted Friday out of 
courtesy to his government col- 
leagues and was not certain of vic- 
tory. It was “perfectly possible." he 
said, that EU leaders would pick 
another candidate or fail to reach a 
decision at Corfu. But he warned 
that failure would be a public-rela- 
tions disaster for the Union and 
enrage the European Parliament, 
which must approve the president. 



areiKpy ripsed jolhett£ 


hereof* . 

\ “Readiness-: 
we will have 


Geneva Urging UN Offspring to Stay 


By Robert L. Kroon 

Special to the HeraU Tribune 

GENEVA — Bonn and Geneva 
are putting out rival welcome mats 
in an attempt to capture the United 
Nations' newest offspring — the 
World Trade Organization and its 
500 international civil servants. 


Next Jan. 1. the World Trade 
Organization will take over from 
the Genera] Agreement on Tariffs 
and Trade, which voted itself out of 
existence after the successful con- 
clusion of the tariff-cutting Uru- 
guay Round In December. 

For all of its 48 years as the 


Flames Sprayed 
At Ulster School 


promoter and arbiter of free trade, 
die GATT has bad its headquarters 
in Geneva's international quarter, 
along with the the European head- 
quarters of the United Nations and 
scores of other international orga- 
nizations. 

Germany is the only major Euro- 
pean country with no UN institu- 
tion, and Bonn is t tying hard to 
lure the new organization. 

Economics Minister Gunter 
Rexrodl has offered the World 
Trade Organization the landmark 
Wasserwerk building, now the 
Bundestag seal, which will be va- 
cated when the government and 
Parliament move to Berlin. 

The German government says it 


will also pick up the tab for moving 
the Geneva staff and their families 
to Bonn, and it has thrown in a 
package of tax-free perks and dip- 
lomatic privileges as well as finan- 
cial help for Third World govern- 
ments that cannot afford dual 
missions in Berlin and Bonn. 

Until the early 1980s. Geneva, 
where 40 percent er the population 
of 300,000 consists of foreigners, 
ignored any challenge to its stature 
as the world’s premier neutral con- 
ference center and mediation site. 

In postwar years. Geneva grew 
fat and smug on Cold War .summit 
meetings and hot war disputes, plus 
more than 200 annual conferences 


The Associated Press 

BELFAST — A man sprayed 
flames at a classroom of teenage 
students on Friday, seriously 
wounding three boys, the school's 
headmaster said. 

“The man entered the grounds of 
the school and went straight to the 
exam ball with what appeared to be 
a fire extinguisher." said the Sulli- 


van Upper School headmaster. 
John Young. “He used it as some 
sort of flame thrower. 


on everything from eradicating the 
tse-tse fly to saving the ozone layer. 

The city’s profitable conference 
monopoly was Erst dented in (he 
early ’80s, when the United Na- 
tions transferred some institutions 
to Vienna under the prodding of 
the then secretary-general. Kurt 
Waldheim, an Austrian. 

In 1992 came another shock 
when The Hague won the sear of 
the new Inspectorate for Chemical 
Weapons, followed by the Interna- 
tional War Crimes Tribunal for the 
former Yugoslavia. 

In ihese times of strained bud- 
gets. Geneva, one of the world's 
most expensive cities, has become a 
luxury the nearly broke United Na- 
tions can no longer afford, and the 
Swiss have been slow to offer any 
incentives to stay. 

One of the problems is the au- 
tonomous status of the “Republic 
and Canton or Geneva" in the 
Swiss confederation, which foots 
the bill for Geneva’s airport and 
other big-ticket projects. Bern 
tends to consider French-speaking 
Geneva as a sort of Swiss Monte 
Carlo with international preten- 
sions that often clash with the 
country's innate Europhobia. 

But Bonn's bid for the WTO has 
shaken both Bern and Geneva out 
of their torpor. Hardly a day after 
Germany posted its official candi- 


dacy. the Sw’ss countered with an 
uncommonly generous offer. 

If the World Trade Organization 
sticks to the GATT premises, the 
federal government promised to 
waive the annual rent of 350.000 
Swiss francs (S250.000). Geneva 
will throw in a new WTO confer- 
ence hall for 750 delegates and a 
SI5 million garage for 400 cars. 

Diploma Lie perks would also be 
extended to lower-rank officials, 
and for the first time a tax-free 
shop would open for all Geneva 
diplomats. 

To match Bonn’s offer to desti- 
tute countries, a “Maison du Sud" 
will rise near the Palais des Na- 
tions. where delegates from the 40 
poorest nations "will find office 
space at “reasonable prices." 

This has brought a sigh of relief 
from an overwhelming majority of 
GATT staff members, who are 
against relocation. 

“Most of us don't speak Ger- 
man. and we don’t like Bonn's 
rainy climate." one top GATT offi- 
cial said. “TTiere's the problem of 
changing schools and selling our 
villas, which is not easy in the cur- 
rent tight market." 

Next month, the WTO’s “prepa- 


Ch ina Criticizes 
HongKongPlan 
To Inform Public 


NATO: Kozyrev to Sign Agreement 


BEUING — China on Friday 
attacked measures announced by 
the Hong Kong government to give 
people lunited access to official in- 
formation. saving such changes 
could only be made after agree- 
ment with Beijing. 

The Chinese press agency Xin- 
hua quoted a Foreign Ministry 
spokesman, Shen Guofang. as say- 
ing the measures “violated provi- 
sions of the Sino- British Joint Dec- 
laration." 

On Thursday. Hong Kong's 
chief secretary. Anson Chan, un- 
veiled a code of practice de tailin g 
what information the public would 
hare access (a 


CoBtraned from Page 1 

itself under the Conference on Se- 
curity and Cooperation in Europe, 
a largely consultative group of 
about 50 nations. 

The anno uncement that Mr. Ko- 
zyrrv would come to Brussels end- 
ed months of uncertainty about 
whether Russia would join NA- 


TO’s partnership program, on 
which the allian ce has built its post- 
Cohl War security plans. 

Eighteen former Warsaw pact al- 
lies and former Soviet republics 
have signed partnership accords 
that open the way for such thins as 
join I exercises and Western hop in 
drafting mili tary budgets and con- 
verting arms factories to civilian 
purposes. 

But Russia, pressured by anti- 
Western hard-liners, has balked at 


meat&ra 
and 


bat- Arid 
would in 


Mr. Shen said. "The measures signing a base framework accord, 
invol ve major changes to the opera- ax S uin §. m5t ^ i f< ? s P? dai c 9 nsul ‘ 


lion or government departments in 
Hons Kong, which is detrimental 
to Hong Kongs smooth transi- 
tion." 

He said that in accordance with 
the Joint Declaration, such matters 
should be discussed in the Sino- 
Briiisb Join! Liaison Group. The 


tative lies rdlecting its claim to 
superpower status. 

At a June 10 meeting in Istanbul, 
the NATO foreign ministers again 
insisted that Russia must sign a 
pa rtn er sh ip deal before there can 


be any discussion of broadening . bit Us 
the relationship. wbmi 

NATO’s bid to open'up to Mos- n*T ( 

cow is being watched nervously in pfotg 
other East European capitals, w ent te 
where there are fears that a special 
NATO-Rnss'an deal might lead 10 
a new division in Europe. ■ ' 

But NATO has ruled out “ttnotfc- ; mean 
er Yalta agreement." It argues that. - 'and 
special relations with Moscow.be- most 
yond a partnership win be In the -most- 
security interests of the affiance - bat / 
and of Russia’s immediate neigh- would 
bors. 

NATO's East European partner- 
ship initiative was launched by the Jhrar l 
NATO leaders at a Brussels sum- ishing 
nrit meeting in January. Ihatv 

The bilateral accords offend by s* 1 ®® 
the program provide no security ap M 
guarantee for any' East European “ na l 
nation. But they are being present- 
ed as a fust step. toward NATO - 
membership for some countries in 
Eastern Europe. 

Russia objected strenuously, at 
the Istanbul meeting, to the alli- 
ance's plans for enlargement. M p 

(AP. Reuters) . 


SokSets fipat 
crificaijobs, 
mono. 

Ttie - # . 
fail the destof 
wtaitheara 
era! Gordon 




iheir top 

ishing touches iad *:sensoi 
that wflffikdy opearaauyis^ 
atious to women but tjot as m 
as Mr. /West hadproposttL The 
final . re c omrn e ndat MmsyiTphfe; 


tamarily coBegml 


ratory committee." made up of the 
GATTs 120-nation membership, 
will decide chi organization’s future 
home. 


terms for Hong K one's handover RWANDA: U.S. Sends Aid 


terms for Hong Kong's handover 
to China in 1997. and the joint 
liaison group is charged with ar- 
ranging details of the move. Its 
work has been stalled by the dis- 
pute over Governor Chris Patten’s 
planned electoral reforms in Hong 
Kong 


Mr. ftriy ~ 
and General 
settled on. .■ 

Cmhananny officials jay that 
the generals wa^fikBy coossifel ' 
Few subjects are tfflke sensitiw 


don of womesri/mtD 




women itKtne Gdf 
ing hefipeptos 

trucks, quieted many sfaytks, and. 


Marymount School 

Paris 


ISLAM: 

Vigilante Justice 


^ director by Secret^ of Sate Warren M. 

of the U-S. Agency for Intonation- Christopher in Istanbul last week- 


id Development, to undertake a ’2d 


study of these and other fragile tration was now willing to say that 
societies to figure out why they are w fcat is happening in Rwanda 


We would like to thank the following for their generous 
contributions to our Marymount Milestone Campaign, 
the school’s first capital fund drive in its 70-year history 7 : 

Corvo Ltd. 

IBM International Foundation 
Joel Dean Foundation 
The NutraSweet Company 
Raskob Foundation 
Services Petrolders Schlumberger 
Tendler Beretz International, Inc. 
Triton France S.A. 


Continued from Page 1 
by a small but powerful clergy." 
said I -A. Rehman. director ofThc 
private Human Rights Commis- 
sion of Pakistan. “The police throw 
you in jail, the entire community 
becomes hostile to you, and the 
courts are afraid to gram bad be- 
cause mullahs demonstrate and 
publish posters. And now, what’s 
worse, the hotheads in the commu- 
nity are being provoked into taking 
the lives of innocent people." 

The blasphemy Jaws were en- 
acted by former President Moham- 
med Zia ul-Haq in 1986. Original- 
ly, the laws allowed for life 
imprisonment or death. But in 
1992, under the government of 
Prime Minister Nawaz Sharif, a 
special religious court ruled that 
the death penalty was mandatory, 
and the ruling became law when 
Pakistan's Senate unanimously re- 
fused to strike it down. 


Contained from Page 1 Atwood to "start putting together a 

of Burundi and the president of ^oeconoimc and political eariy 

Rwanda died in a suspicious plane <0 h ^ women aMK Guff W*£ tpmrw- 

crash in the Rwandan capital Ki- ^ s ^ >c,cties “ d - 

gallon April 6. g™*"* ^ rCSOUrCCS 

President Bill Clinton has in- Taking their cue from comments 
struct^ J. BnaD Aiwood. director bv Secretary of State Warren M. w craec'sffyii« combafaircraUand , 

of the US. Agency for InteroatioD- Christopher in Istanbul last week- *rvmg]&o*xd waB “P* ; - t,- 

al Development, to undertake a end. the officials said the adnrinis- But Ae armv and ite manne. . 
study of these and other fragile ^lion was now willing to say that «“*“ ^ 

societies to figure out why they are what is happeningm Rwanda m°st ali^ vmti. and they haw 

one plane crash away from mass mcels ^ legffl definj[ioa fought tend to keep, women OOVOf : 

slaughter or one bad rainy season cjde. ml an try, armor, artillery ana spe- 

away from famine," an official at ^ Christopher, responding to amorces 
the briefing sard. critidsra that the aSstration . 

“This ethnic conflict is centuries insisted on referring to “acts of _ ™P m moved to 
old," she said. Groups such as the genocide" rather than genocide to , 10 

Hums and Tutsis “have to be avoid having to act on a treaty . 

trained in tolerance, and in how to commitment to put a stop to it, said nzle ' bfJreawott^ • 

share power in what has been a that “if there is any particular mag - cnlrom certain mil itary jobs'; 
winner-lake-aO political tradition.” ic in calling it genocide. I have no woe : dangooBs.; . 

She said Mr. Clinton directed Mr. hesitancy in saying that-" J v “- rq)*aced the rulfririw^ 

a definition of ground combat ffiSF 
bars women from units thal engageT 
the enemy on the ground wiS r 

U.J .: Former Football Star Charged 


one plane crash away from mass mcels Ae legflI Jefinicfoa of gno- 
slaughter or one bad rainy season 


away from famine," an official at 
the briefing said 

“This ethnic conflict is centuries 


Mr. Christopher, responding to 
criticism that the administration 
insisted on referring to “acts of 


old” she said. Groups such as the genocide" rather than genocide to 


Hutus and Tutsis “have to be avoid having to act on a treaty 


trained in tolerance, and in how to commitment to put a stop to it, said 
share power in what has been a that “if there is any particular mag- 


winner-lake-aD political tradition.” 
She said Mr. Clinton directed Mr. 


ic in calling it genocide. I have no 
hesitancy in saying that-” 


Conti m md from Page 1 

discovery erf bloody work gloves, 
one at the scene of the crime, an- 
other outside Mr. Simpson’s man- 


Trophy as the best college player in 
the country. 

He was drafted No. 1 into the 
National Football League by the 


sion; blood stains at the murder Buffalo BIDS and spent most of his 
scene that matched Mr. Simpson’s 1 1- year pro career m Buffalo, New 

^ TT__ r . V 1. UL. -1 _ 


According to the Pakistan Hu- 
man Rights Commission. 121 peo- 
ple were charged under the blas- 
phemy laws from 1986 through 
July 1993. Most of the cases are 
pending, but a handful of suspects 
have been convicted and sentenced 
to death. 


type. The police said it appeared 
that Mr. Goldman had put up a 
fierce struggle before be was killed. 
The owner of the restaurant said 
that Mr. Goldman had gone to 
Mrs. Simpson’s house to deliver a 
pair of glasses she had forgotten at 
the restaurant 

Then there was the recollection 
that Mr. Simpson had battered his 
wife in a 1989 incident. Docu- 
ments, which include the original 


Thanks to their support and that of corporations 
previously recognized, as well as that of the entire 
Marymount family, we have successfully completed our auditorium 
and science Mioratory’ renovations. 


Among those on death row are a 
Christian who was convicted solely 
on the testimony of the complain- 
ant, and despite the testimony of 
two witnesses who contradicted the 
prosecution's story. 


police reports, said officers had 
found her cowerine in the hiichec 


found her cowering in the bushes, 
bruised and bloodied and afraid for 
her life. Prosecutor involved in 
that case said Mr. Simpson, who 
did not serve jail time, got off too 
lightly. 


York. He also played for the San 
Francisco 49ers and was inducted 
into the Pro Football Hah of Fame 
in 1985. 

He had five consecutive 1,000- 
yard seasons and became the fust 
runner to go over 2,000 yards in a 
season with 2,003 yards in 1973. 
His trademark was speed, power 
and agility. 

Mr. Simpson had single gam* 
bests of 273 yards a gainct the Dg. 
trait Lions in 1976 and 250 yards 
against the New England Patriots 
in 1973. 

F ollow ing his professional foot- 
ball career, he was much sought 
after as an actor, both for Holly- 


direct physical contact with &e‘ 
peracimd of a hostile force; -Mri-r 
Aspin ordered the sovioes fio- A- - 
port by May 1 which units could be 
opened to women. - ■ 

Most jobs in the navy andjrir; ‘ 
force are now open to women. Evgq v a 
the Marine Corps, which has on!y4 - 
percent women, plans to opea'33 
previously closed fields, mostly air- ' 
plane ana helicopter main t enanc e 
jobs and headquarters positions a 
senior Defense Department official 
said. r \jif- 

But some generals are Yeoom-" 
mending that, at least for now^nff ; 
more jobs be opened beyond /the 1 
7,000 additional po s iti ons in about " 
half a dozen areas for wonuar’on - 
active duty that the army an- ~ 
nousced in January. 



prosecution's story. "SMjy* wood movies and for widely broad- 

pnmxu j After pleading guilty to a charae cast advertisements. 

But it was the bus-stop ambush of battery, Mr. Simpson was placed His film credits include “The 

that galvanized opposition to tbe on probation and ordered to per- Towering Inferno" (1974V “Th e 
blasphemy laws. There have been form 120 hours of community ser- Klansman" (1974), “KiDer Force" 
no arrests in the shooting. vice and donate $500 to a center for (1975). “A Killing Affair” < 1977), 

“ It was a really shocking, barbar- ^f^red women. He was also re- ^Thc Cassandra Crossing" ( 1 977V 
ic and intolerable act," said Iqbal t l mrcd 1 . 10 undergo psychological ^apncom One” {1978}. ‘'Fire- 
Haider, Pakistan's minister for law. prosecutor, P ow '^ (jff ffi , “Goldie and tbe 

justice and parliamentary affairs. Robert L. nngcL said Mr. Simpson Bo*« (1979), “Goldie and the 
He said that the cabinet of Prime not P”>P«ly fulfill the commu- «*er Go to Hollywood" (1981), 
Minister Benazir Bhutto bad ap- scmcc requirement and did Hambone and Hillie” (1984) and 
graved draft changes in the bias- ™. fl PP ear to *ak« *e punishment student Exchange" (1987). 


TORT: | 

Not So Generous 


THL K’l 
IVr^ 


proved draft changes in the bias- take the punishment 

pbemy law to curb “abuse of the se, ?? us ^ . .. 

law, in the sense of false all egaliems Sun P Soa *- 


and fabricated cases.” The pro- , , 

rvwed changes call for anorovai bv At ^rep 50 * 1 s funeral on 


posed changes call for approval by , ™F son 5 ““cral on 

a court before the police can appre- Thiirsd^, Mr. Sunpson held hands 
hend a blasphemy suspecL and im- ^ ^ *9 * JusTm * 6 - and girl, 
misonment for up to 10 years for ^7“^/ y ’.. 
S^one.convictedoflodgingafalse 


SinT 

p boarded a flight for Chicago. In 


The three defendants shot at the Eos Angeles, the police studied 


He also appeared in “Naked 

i^. and ils “Na- 

ked Gun 24 in 1991. 

The best known of tbe television 

ads were the ones he did for the 

Hertz rental car company. 

Late Friday, Hertz said it was 
shocked and saddened" by the 
owrges against the man who has 
been an advertising spokesman for 
the company since 1975. 


Confined from Page 1 

makes them tend to look askanceat 
the cases that are in front of tiwniT 1 • 
. But people in the legal profes- 
sion agree that the dnft m. jmy - 
sentiments is not a resnlt or.au . 
increase in frivolous lawsdt&Vv: 

Iq medical malpractice, if ifiy-- 
thing, the quality of cases has got- 
ten better, said Justice Freedmani . 
who has tried numerous medical 
^P ractice and products rMalhf 


“Plaintiffs know that these cases 
v<ay costly and tim«xx»snnF . 
^8. he said, adding that he^ 
thought thq' had become more re- 
luctant to sue, . 


bus stop, who were not related, clothing, step and other items be- “Obviously, Hertz has no plans 

were imprisoned m May 1993 after [ongmg 10 Mr. Simpson, searching fo ufikre Mr. Simpson in adverbs- govcmmmt^en^^^t!^ 
a cleric in their village north of for blood stains or other clues, ‘°8> Hertz said in a statemoH aaS^but tSsi^nh 
Lahore claimed to have seen them while in Chicago, another group of ffpre ll s headquarters in Parte not chan<«*ri ga P bas 

nenw rhunkx of brick to write bias- officers hunted for a oossihle miir- Ridae. New Jfiraev _ c “ aj ^8 e£ ^ recent years. - 


Marymount School 

72, Boulevard de la Saussaye 
92200 Neuilly-sur-Seine, France 
Tel: 33/1 46 24 10 51 Fax: 33/1 46 37 07 50 


a cleric in their village north of for blood stains or other clues, m 8. T ’ Hertz said in a statement 
Lahore claimed to have seen them while in Chicago, another group of fr ? m il5 headquarters in Paris 
using chunks of brick to write bias- officers hunted for a possible mur- Ridge. New Jersey, 
p heinous slogans on die wall of his der weapon in a field near a hold MP. Reuters, LAT, W?) 

mrsaue. The cleric said he immedi- where Mr. Simpson spent a few 

aiely erased the writing. But human hours Monday. ' 

rights activists and the trio’s attor- Mr. Simpson exploded onto the 

nev said that the allegation was national sports scene in 1967 as he To subscr&« i n Gotmonv 

false, claiming that Salamat, who jed the University of Sonlhera Cal- 

was then 12, and Manzoor Masih {fornia to a national college foot- Q13n ' 

were illiterate and did not know ball title as a r unning back. The 03 

how to write. noct season he won the Heisman j 


To subseriba l n Gmony 

fusi cqR, tofl free, 

0130 84 85 85 


Jmy Verdict Research’s f%ores 
show an e^cdally stark shiftrnt 
junes sympathies in cases ipvote 
mg premises liability and me^ - 
malpractice, which m recent years 
hare accounted for 25 percent of nQ ' 

P««aal injuiy triaK Premises B-- 
ability, including slto-and-faB 
cases, is invtrfced iwiea sorieoM is 
injured on someone rise’s property. . 









«*als 
Comb 


DSTERNATIONAL HERALD TRIBUNE. SATURDAY-SUNDAY, JUNE 18-19, 1994 


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IT: 

<> G*«* 


Sources Dry Up in D-Day Towel Caper 


By Ruth Marcus 

Wax kington Pan Seirice 

WASHINGTON — In 1944. ihey sionned 
Normandy carrying packs and guns. This 
time, some invaders apparently hit the beach- 
es toting ienycloth. 

To wjt: $562 worth of towels and bath- 
robes, some with insignia from the aircraft 
carrier George Washington, the ship that 
ferried . President BiD Clinton, 40 White 
House hides and 23 members of the White 
House press corps across the English Chan- 
nel 1 

A memorandum circulated to White House 
staff from the scheduling office listed the 
missingi terns as relayed from the ship’s exec- 
utive officer 

• 13 blue towels with the ship’s insignia, 
worth 5,11 each. 

• 4 bathrobes with the ship's insignia, 
worth $35 each. 

• 12 plain white bathrobes, worth $15 
apiece. 

1 ’• 55 white towels, worth $1.80 apiece. 

’They provided those items for our use, 
not as souvenirs,'’ the memorandum noted. 

Those who may be hanging the ship’s tow- 


els in their guest bathrooms are asked to 
remit the money, forthwith. A senior admin- 
istration official said the memorandum 
would also be distributed to members of the 
press corps. 

In the meantime, Ricki Stidman. the head 
of rite scheduling office, wrote a personal 
check for the full amount to the military to 
make sure the taxpayers were not out any 
funds. 

With memories of a White House aide's 
helicopter golf outing still fodder for talk 
show jokes, the case or the missing towels was 
not exactly what the White House needed. A 
Republican member erf Congress who ob- 
tained a copy of the memorandum delighted- 
ly appended it to a press release headlined, 
“White House Staff Steals From Aircraft 
Carrier.’* 

This is more than just petty theft, it is a 
continuation of an attitude which has been 
put forth from day one with this White 

House.” said Representative Dan Burton, 
Republican of Indiana. 

The White House staff said if the robes and 
towels were missing, they were sure it was 
part of a mix-up. II seems the staff had forked 


over $1! for thongs to use in the shower and a 
toiletries kit and found the robes and towels 
alongside on their stateroom beds. 

Some staff may have assumed they were 
pari of the deal — after all, free baseball caps. 
T-shirts and other such goodies are routinely 
showered on the White House staff and the 
reporters who travel with them. 

Mark Gearan, the White House communi- 
cation director, said there was "some confu- 
sion over what was covered in the cost and 
which items were complimentary." 

If there was confusion, no such confused 
individuals could be found Thursday. Offi- 
cials said no staff members had come forward 
with checks. 

"No, I didn't take my towel." said one 
official, adding that be was “willing to go on 
the box." or take a lie-detector test, to prove 
there was no malfeasance on his part. 

Still, the official added: "The bathrobe is a 
stretch. 1 don't think anybody thought thev 
bought a bathrobe." 

Some senior officials pointed fingers of 
blame at the traveling press. “I would remind 
you that your colleagues were on board." one 
official said. 


AMERICAN 

TOPICS 


N.Y. Police Get the Word: 
Better Shape Up, or Else 

Are New- York’s Finest also New York's 
•fattest? Police Commissioner W illiam Brat- 
ton plans to put the department on a new diet 
this fall. It includes physical exams for all 
recruits, stricter fitness testing for police 
academy graduation, and stricter standards 
for the 31,000 policemen already wearing 
badges. 

Mr. Bratton said, “Imagine John Q. Public 
- s e e in g that 300rpounder and saying to him- 
self, ‘How the hejl can that person help me?* ” 

Last month the commissioner, who took 
over in January, watched a videotape of re- 
cruits lumbering through an obstacle course. 
He saw overweight cadets literally bouncing 
off a 5-foot-high wall they were supposed to 
scale in .simulated pursuit of a criminal 

The chief of personnel Michael Julian, is 
developing policies that will screen soft appli- 
cants through body-fat, grqvstrengih and 
r unning tests, as well as maintain standards 
on the existing force with periodic physicals. 


Short Takes 

A cre w man on a sport fishing boat was 
missing after being pulled overboard into the 
Atlantic off Morebcad City, North Carolina, 
while trying to haul in a large blue marlin 
daring a fishing tournament. Coast Guard 
and U.S. Navy ships searched through the 
night for Chris Bowie, 41, of Ocean City, 
Maryland, who went overboard around mid- 
day 60 mOes (about 100 kilometers) offshore. 
He was not wearing a life jacket Blue marlin, 
which can weigh more than 1,000 pounds 
(450 kilograms) and reach 14 feet (425 me- 
ters), are known as ferocious fighters. 

The snnBpox virus, which was singled out 
for destruction at the end of last year, will 
survive in freezers in Moscow and Atlanta for 
at least another year. Some health officials 
had sought to destroy the remaining stocks of 
the virus to reduce the cost of preserving it 
and to avoid the threat of an accidental 
escape from a laboratory of seizure by terror- 
ists. Some scientists, however, say the virus 
could yield useful knowledge about other 
diseases. Smallpox itself was declared eradi- 
cated in 1980 through a worldwide vaccina- 
tion program conducted by die World Health 
Organization. Next May, the organization 
w01 make a final decision on what to do with 
the virus. 

Former President Ronald Reagan never got 
overseas in World War II serving as an army 


air force captain making training films in 
Hollywood. The reason, says Edmund Mor- 
ris, who is working on a biography of Mr. 
Reagan, was poor eyesight As a reserve lieu- 
tenant. Mr. Reagan underwent a physical 
examination Nov. 13, 1941, and was declared 
"permanently incapacitated for active duty 
due to compound myopic astigmatism — 
bilateral severe — distant vision 6/200 both 
eyes without glasses." This meant. Mr. Mor- 
ns writes in a letter to The Washington Post, 
that should he lose his glasses in battle, "a 
hostile body dearly visible to normal-sighted 
soldiers at 200 feet would have to approach lo 
6 feet before Mr. Reagan focused on it." 

There have been three icons of American 
style during my lifetime: Audrey Hepburn, 
Grace Kelly and Jacqueline Kennedy Onas- 
sis," Emily Pragpr writes in The New York 
Times. "For 40 years, these three women 
represented a kind of apotheosis of female 
beauty, background and achievement.” Miss 
Prager notes that they were all born in 1929. 
to wealthy or prominent families. "They all 
achieved worldwide recognition by age 30: 
one had married a prince, one had married a 
senator with presidential aspirations and one 
played princesses in the movies, and could 
nave been one as far as we were concerned." 
They “made elegance look accessible. On 
them, couture looked real — comfortable, 
wearable, right." And “all three died too 
young." 

international Herald Tribune 


BOOKS 


THE RAPE OF EUHOPA: 
Hie Fate of Europe’s Trea- 
sures In the Third Reich 
; and die Second World War 

* By Lynn H. Nicholas. 498 pages. 

'ReViewedJby 1 ' '* r : : ? 

• Christopher Hitchens ’ 

I N its mqorkey, this bodk is an 
account of the most barbaric 
.assault on the theory and practice 
•of art since the destruction of the 
Great library at Alexandria. In its 
- minor key. it is the story of a small 
but satisfying revenge. 

To begin, then, with the minor. 
• By 1933, when Hrllef s regime was 
still in its infamy, the Nazis had 
-already promulgated the idea of 
"d^jenerate art" and had purged 
. and desecrated many galleries and 
museums throughout Germany. 
Some of what they stole was then 
. resold on the international market 
-in order to rase hard currency. Al- 
fred Ban, director of the Museum of 
-Modem Art in New York, wrote a 
• three-part essay denouncing tins 
.robbery and ptriHstmism but could 
. not find any American pnWisberfar 
his audacious attack on the National 


Socialist "New Order." Only Lin- 
coln Kirstdn, in his small avant- 
garde review Hound and Horn, gave 
space to Barr’s prophetic writing on 
the menace to culture that was 
posed by Hitlerism. Twelve years 
Wr, Private Lincoln Kirsten of the 
•U-S. Army unearthed the hiding 
-ptace.-of tbe -Ghent altaipjece,-pan 
of the treasure that had been hidden 
by the Nazis in disused inures and 
cellars all over Gennany. 

To the major key: Nazism was 
obsessed by art and "culture” but 
was almost by definition incapable 
of creating anything that could be 
recognized as such. It was, howev- 
er. capable both of destroying an 
and of plundering it. Thus we nave 
the grotesque spectacle of the 
bloated Reichsmarschall Herman 
Goring, strutting through the mu- 
seums and galleries of a conquered 
Europe and helping himself with all 
the discrimination of a jackdaw. 
The image calls to mind H.L 
Mencken’s invocation of a gorilla 
trying to play the violin. 

Lynn H. Nicholas, a former cura- 
tor at the National Gallery, follows 
the fate of masterpieces from the 
beginning of the Nazi regime 
through toe pillage of war to sorting 
through the wreckage at the end. 


(The story isn’t oven Many were 
lost, many may still be hidden.) In 
one mine shaft near the cathedral 
town of Aachen, the Allies retrieved 
the following: 600 old masters from 
the museums of the Rhineland, 100 
sculptures, the manuscript of Bee- 
thoven's Sixth Symphony, the mas- 
Sive ohk dooiStrf an ancient church 
in Cologne and the relics of Charle- 
magne. Hus unsorted box of Euro- 
pean antiquity was not just a Nazi 
idea of an "art collection"; it was 
also the insurance policy of some 
war criminals. It was discovered be- 
cause, attached to many Allied divi- 
sions was a liaison officer, unique in 
history, known as "the Monuments 
man." Not the least fascinating pan 
of Nicholas's astounding book is her 
account of this' little corps d 'elite 
i hut, aimed with a knowledge of 
prewar Europe and a love of an. 
combed through one shattered city 
after another in search of (he patri- 
mony erf a continent. 

-The cover picture, which is a 
haunting shot of the Grande Ga- 
len e at the Louvre, its walls 
stripped and its paintings removed 
from their frames, shows what "the 
Monuments men" were up against 
Entire national museums were 
emptied four years before any Al- 
lied soldier set foot in Europe.' And 


when they did, another difficulty 
presented itself. The Nazis and 
their collaborators were not above 
“digging in" on a historic site and 
in effect challenging the Allies to 
blow them out of a treasury or 
museum. In some cases, such as 
Paris, Hitler’s scorched-earth or- 
ders were disobeyed by conscien- 
tious German officers on the spot. 
Florence, as we know, was not so 
fortunate. The fate of other gems of 
architecture makes almost unbear- 
able reading. 

Yet this rich and detailed book, 
which is sure to become the stan- 
dard work on the subject, contains 
more moments of pleasure than de- 
spair. 

Christopher Hitchens, critic at 
large for Vanity Fair and author of 
“ Imperial Spoils: The Curious Case 
of the Elgin Marbles, ” wrote this for 
The Washington Pqsl 


U.S. Begins 
New Policy 
On Haitians 


Vn )VvA Times Service 

KINGSTON. Jamaica — The 
first shipboard processing of Hai- 
tians' applications for asylum un- 
der a new Gin ton administration 
polity began aboard a U.S. Navy 
hospital vessel moored here. 

Thursday morning, 35 Haitians 
picked up from leaky wooden sail- 
boats were put on board the ship, 
the Comfort. 

in keeping with the new policy 
for handling the requests for asy- 
lum on ships or on land outside the 
United Slates, the 1,000-bed vessel 
was filled with interpreters and im- 
migration officials ready to weigh 
the stories of the Haitians and de- 
cide whether they would be sent 
back or granted refugee status and 
allowed to come to the United 
States or other countries. 

Previously, the United Slates 
had sent back Haitians intercepted 
at sea without hearings. 

Human rights advocates, who 
had fought die policy of returning 
the Haitians picked up at sea, were 
watching the new procedures with 
concern, waiting to see if they 
would simply prove to be a more 
elaborate mechanism for sending 
the Haitians back. 


Guatemala Signs 
Refugee Accord 
With the Rebels 

Reuters 

OSLO — Representatives of the 
Guatemalan government and left- 
ist guerrillas signed an agreement 
here Friday on resettling refugees, 
which was seen as an important 
step toward ending a conflict in 
which more than 100,000 people 
have been killed. 

Hie two sides signed the accord 
in the mansion where Israeli and 
Palestinian delegations initialed 
their peace agreement on limited 
Palestinian autonomy last August. 
The agreement Friday sets out 
terms for resettling about 60,000 
Guatemalans in Mexico, most of 
them living in refugee camps, and 
perhaps a million people forced 
from their homes within Guatema- 
la 

The accord guarantees the safety 
of returnees, raises chances of re- 
covering abandoned homes and 
lands, eases bureaucratic hurdles 
for those without documents and 
vows to protect the culture of 
groups like the Mayan Indians. 

The two sides also said they had 
made progress on setting up a aim- 
mission to examine responsibility 
for human rights abuses during the 
war. Besides the 100.000 people 
. who have died, an estimated 40.000 
have "disappeared." 

Counterfeit Ring; Broken Up 

MUNICH — German and Aus- 
trian policemen have broken up an 
international counterfeit ring and 
seized the equivalent of $2.6 mil- 
lion in fake currency, officials said 
Friday. The Bavarian Criminal Of- 
fice said four men had been arrest- 
ed, including an Italian racehorse 
owner living in Berlin. 


The Vatican Reports a Surplus 


Revjcn 

Vatican CITY — The Vati- 
can. long secretive about money, 
discussed the state of its finances 
on Friday and said it had posted a 
budget surplus of SU million in 
1 993 after 23 years of deficits. 

The Holy See's financial state- 
ment was presented at a news con- 
ference in a week when Pope John 
Paul fl told Roman Catholic cardi- 
nals that the time had come to 
debunk the “myth" that the Vati- 
can was fabulously rich. 

Cardinal Edmund Szoka. presi- 
dent of the watchdog Prefecture for 
the Economic Affairs of the Holy 
See. said the accounts had been 
certified by outside auditors and 
were the most open and detailed 
the Vatican had compiled. 

“There is total and complete 
transparency.” said Cardinal 
Szoka, a former archbishop of Oc- 
troi l 

The statement showed expendi- 
ture of S 167.5 million against in- 
come of SI69 million, much of it 
from investments, real-estate hold- 
ings in Italy and contributions 
from the faithful 

Cardinal Szoka said it was the 
first time since the Holy See began 
publishing a budget in 1970 that 
there had not been a deficit The 
annual deficit hit a peak of $87.5 
million in 1991. 

He said the Holy See bad only 
"very, very modest reserves when 
one considers that it is (he center of 
the whole church of some 950 mil- 
lion Catholics and thousands of di- 
oceses.” 

He said the Vatican's artistic 
treasures, like Michelangelo’s Pie- 
la, were a common heritage that the 
church looked after for the enjoy- 
ment of all. 

The Holy See's budget covers the 
Catholic Church’s central adminis- 
tration, its diplomatic missions as 
well as Vatican radio, the newspa- 
per L'Osservatore Romano and the 


Vatican's printing and publishing 
houses. 

It does not include the Vatican 
bank, officially the Institute for Re- 
ligious Works, which has under- 
gone major restructuring after a 
damaging scandal in 1982. Cardi- 
nal Szoka insisted that the bank 


was “not a body erf the Holy See" 
and that its money was not the 
Vatican’s. 

The Holy See has in the past 
drawn on "Peter's Pence." a special 
annual collection in churches 
around the world that dates back 
12 centuries, to cover its deficits. 


A T-Shirt Offers 
Painful Reminder 
In Singapore 

Reuters 

SINGAPORE — A Singapore 
entrepreneur hopes a new T-shin 
illustrating offenses carrying the 
caning penalty will prove a stroke 
of marketing genius. 

A businessman. Lira Tien How, 
43. has manufactured T-shirts 
bearing the message, "Spare the 
Rod and Spoil the Child,*’ the Sin- 
gapore Straits Times reported Fri- 
day. 

Singapore gained international 
attention when it sentenced an 
American teenager, Michael P. 
Fay. on March 3 to be caned for 
spray-painting cars and other of- 
fenses committed last September. 
He received four strokes of a rattan 
cane on May 5 and will be released 
from prison June 21. 

The T-shirts, priced at $16.25 
each, went on sale Friday at il 
hotels and Changj International 
Airport. The back of the shirt fea- 
tures an illustration of bare but- 
tocks with several slashes above a 
list or the offenses punishable by 
caning: rape, vandalism, road bul- 
lying. possession of firecrackers 
and arms and illegal entry by for- 
eigners. 


i.i 



The 

International Herald Tribune 
would like to thank the 
following companies 
& organizations 
for their support 
ofthe series on Greece 
published on the occasion 
ofthe Hellenic Presidency 
ofthe European Union 



EMflOPlKH 

COMMERCIAL BANK 

IONIAN BANK 

Hellenic Tourism 
Organization 


i am tot vnjta nuc ami 



NEW AUTHORS 

PUBLISH YOUR WORK 

ALL SUBJECTS CONSIDERED 
Authors World-wide Invited 
Wrtte or send your manuscript to 

MINERVA PRESS 

2 OLD BR0MFT0NR0. LONDON SW7XQ 




POP GHART By Nancy Scandrett Ross 


- ACROSS 

- 1 Rodeo rope 
*- 6- City norik of - 
„ -- DcsMotncs - 
i 10 Scb. supportm 

14 Esau's wife 
18 '.Travel seprion ' 
•' advertiser ” 
r 19 ——wire : - 
.20 “Efektra" . 
i - baritone 
. 2 t.Ariny mascot 
22 ROB'S 
'24 BRIDGETS 
26-Neighbor of - 
, Scot. -• 

27 JOHN'S 

29 Escapee . *' 

30 Anarchist 
Goldman 

33 Gladly; in olden 
t&ties 

34 Nighl ramblers 

J5 AsurAfrica.'link 
37 Otg.bnce 
.. .hradedby.-.'- 
Lewis Strauss , 
.40 Half of D 
.41 Conceit 
_42 £jt^gerai£Jlr’s J 

. 43' Yiiccifiber 
_4* : NANCYJS ; - . ; 

48 TKw're decked 
aicHectpbims 
• 49"itecofd >:•' •- 
> - - -rsoUecnona 
' 50- Adam'was hi? -■ - 
father.. 

51 YeUow- 


- 55 Pale 
55 Cockatoo 
cousin 

57'Approved 
• . model: Abbr. 

58 Contrary gjd 
‘ 59" Seventh Muslim 
month 

61 Gercbwin’s 

■- ItaPiiy?" 

63 Flustered one 
. .. 67 Loan staple 
69 BRANFORD'S 
. 72 Actress . . 
Charlotte 
73 Monotonous 
75 Organic 
compound 

76" people 

g?" 

-- 78 Adolescent 
79 Engine starter: 

Abbr. . 

81 Stage actor 
Edmund and 
others " 

S3 Group with the 
hit “Waterloo’ 
86 Silk wrap 
■87-Vier minus eins 
. 89 .Jumping-off 

? oun? 
ines 

91 JEFFS 
94 tnmsfreeand 
others . 

- 95 Rain protector 
98 Be in the red ■ 

; 99 Unit of sound 
-109 Road curve 




i-'' SdfotJoa’to Pbsdefif June 13-12 


*-•315 

v.-* 





:“ r \ & r 4+-: 

• n ~* ir 

.A' - 



:101 Liturgical music 
102 Removes to a 
distance 
104 And that's 
■ not all 

106 Fliers’ org. 

107 Behave 
arrogantly 

108 LAURA’S, , 

112 “To their 

golden eyes’: 
Shakespeare 
115 JAMIE LEE’S 
117 CHRISTIE'S 

120 German donkey 

121 Shake awake 

122 Ship to Colchis 

123 Renaissance 

instruments 

124 Give a hand 

125 Snack 

126 Longtime New 
Yorker editor 

127 Worth of the 
stage 

DOWN 

; l:*The. Women" 
playwright 

. 2 Straight 

arrow 

3 MARLA'S 

4 Part of R^-VJ*. 
SBrnins great 

6 Sam Shepard's 

ofthe 

Mind’ 

7 Pen lass 

-. 8 “Did you 1 

9 Typeface line 

10 Signup early . 

11 Four. Prefix 

. 12 Enzyme suffix 
13 Muscles . . 

J4 Jeanne's k?ve 
15 Firth of Tay port 
■ 16 Birch-family 
trees.,- 

17 Lord of San 
Simeon ‘ 

20 Study of light 
23 Due point: 

Abbr. 

25 Nonplus - 
28 Changes 

course, 

nautical])' _ . 

.31 Rubber region • 
J2 van tier-. • % - 
Rohe. 



O Hew York Tones Edited by Will Shorts. 


34 Provide space 
for 

35 -Hindu god 

36 Osiris's We 

37 Cordial 

38 Folk singer 
Andersen • 

39 Channel port 

45 Certain 
reporters 

46 Garlic's wife in. 
“Pagiiaeci" 

47 Crowning point 

52 SHARPS 

53 Scope* 

54 Gtyinthc. 
Crusades 

56 Neighbor of 
Algeria , 


57 Caressed 
60 O.T. book after 
Isa. 

62 Big-band 
vocalist Wynn 

64 Hypochon- 
driac's 

preoccupation 

65 Gifts for fathers 

66 Margaret’s 
father's 
monogram 

67 Sets 

68 Militarily fit 

. 70 “I wander’d till 

"-Arnold 

71 Heavy tool 
74 Deep blue 


77 Mason or 
Norman 
80 Xjclmzit 
obwny , c.g. 

82 Longtime 

84 Stayed 

85 Office abbr,. 

87 Decline 

88 Some whiskies 

89 New Hampshire 

sure flower 

90 Personal quirks 

92 Raymond 
Smullyan topic 

93 Roundedand 
notched, as a 
leaf 

95 Softened 

96 Words before 
cannon or wire 


*7 Pupil's 
protect'n ,n 
103 Pastoral poem 

105 “Zigeunerliebe" 

compeer 

106 Durham 
campus: Abbr. 

108 Heat measures. 

fur short 
10 4 * Spanish peso 

110 Quiche 

ingredients 

111 Greek letters 

113 Ball 

114 European 
tongue 

116 Kanga's child 

115 Big name in 
New Haven 

H° Sob coal 


RELIGIOUS SERVICES 


AMSTERDAM 

CROSSROADS INTERNATIONAL CHUR- 
CH litedenwnnatanal 3 Evangeteal Star- 
day Service 10:30 am & 11:30 am/ Kkte 
Welcome. De Cuserstraal 3. S Amsterdam 
Wo. 02940-15316 Cr 0250*41399. 

MILAN 

ALL SANTS CHURCH (Angkwi&cw^ 
dunng restoration wiS met at Vale Mario- 36, 
Mfcro in the Chapel d the Oriotne trsfua 
Holy Communion Sundays ai 10:30 and 
Wednesday a) 1930. SuKfay Schorl Voulh 
Fefiow 3 >j). Crete, Coffee, study gmupa, and 
community activities. AU are wefcomeJ Cafl 
(02)655 2258. 

MUNICH 

INTERNATIONAL COMMUNITY CHURCH, 


THE EPISCOPAL CHURCHES 
OF EUROPE (Angfon) 


PARIS and SUBURBS 

THE AMERICAN CATHEDRAL OF THE HO- 


Theresiienar. 1(089)1 

MONTE CARLO 

INTL FELLOWSHIP. 9 Rue Louis-Noian. 
Sunday Worship 11:00 3 6 p.m. 
TeL 92.165600. 

PARIS and SUBURBS 

HOPE INTERNATIONAL CHURCH (Ewtn- 
). Sin ft30 am Hc<eJ Ofcn Metro 1 : 
* La Defense. T el- 47735334 
or 47.75.1 4.27. 

THE SCCmS KIRK (PRESS YTE RIAN) 17. 
n* Bayard. 75000 Pans. Mara FD Roose- 
vet. Family service & Sunday Sotool al 1030 
am every Sunday. Al weboma For nlorma- 
tton48 7B47 94. 

SAINT JOSEPH'S CHURCH (Roman 
Catholic I . Masse? Saiurday Evening B 1 30 
p.m.. Sunday. 9:45. 11-00. 12:15 and 
6:30 pm. BO. avenue Hoche. Pans Bih. 
TeL; 4227.28.56. Metro: Chafes de Gautte - 
Elate 

"The Gfts ol [he Prwr n the Uwd Wortr : Uni- 
tarian Uvversefist Wbrehp Servwe wlh Rav. 
Ail Lesler. June 12. ai 12 noon. Foyer de 
TAme. 7 bis, rue du Paste'.* Wacref- Pans 
11 b. W Basrie. Alternate sarvw with Rev. 
Train* Jones Jme 26 a memtor's homa. Re- 
IgkXB education lor teens and chidren. ChU 
care Medtebcn ard sprtuaf grw.ih groups. 
Social activities For mlormaiion call: 
43.79,9037 or 42.77 K.77. 

STRASBOURG 

ST. ALBAN (Anglican) ai rEgfae des Domnt- 
cans. Euchansl 1020 am comer BM. da la 
VtcJoire & rue de rUniversfle. Slrasb>3um 
(33)883503 40. 

TIRANE 

INTERNATIONAL PROTESTANT ASSEM- 
BLY. WerderK*reifeiar*a & EvangrtaA Ser- 
vices: Sin. 1030 cun. 5*U pm. Wed. 500 
pm Rruga MysVm Shyri ToYFax 355-42- 
43372 or 33262. 

TOKYO 

ST. PAUL INTERNATIONAL LUTHERAN 
CHURCH, near lidabashi Sm. Tel.- 3261- 
3740. Wcrslip Servce. 3 30 <un 5undays 

TOKYO UNION CHURCH, near Omotesan- 
doeutMoysia Tel. 3400017. Wtrertp sen 
was Sunday 8306 11 DO am. SS at 945 
am 

USA 

H you mU ftp a free Bble course by mat. 
please confect- LTGUSE * CHRIST. PO. 
Box 513. Sauifcri. Indiana 47881 U $A 

VIENNA 

VIEWJA CHRISTIAN CENTER. A CHARIS- 
MATIC FELLOWSHIP FOR VIENNA'S IN- 
TERNATIONAL COMMUNITY. * Erflfch 
Language " Trans-denerwaicnal. meets at 
Hafcgasse 1?. 1070 Vienna. 6tn pm Every 
Sunday. EVERYONE <S WELCOME For 
more ntormEton cat 43-1-31&-74 10. 


George V cr Atom Marceau. 

FLORENCE 

ST. JAMES' CHURCH Sun 9 am. Rto I a 
11 am Rile II. Via Bernardo Rucellar 9, 
50133. Florence. Itaty TeL. 3365 20 44 17. 

FRANKFURT 

CHURCH OF CHRIST THE KING 
(Epscopai/An^cari) Sun Holy Ccmnirion 3& 
uamSuntySdwdandNtcsary 1045 am. 
Sebastian Fthz SL 22, 60323 Frariourt, Genna- 
ny. ui . 2, 3 MqueWiea, TeL 40 KB 58 01 84. 
GENEVA 

EMWANuacHURCH 1st, M A 5#i Sun. 10 
a.m Euchanst A 2nd & 4lh Sui. Morning 
Prayer. 3 nte de Mcnfiout, 1201 Geneva, SwJ- 
zertnd. TeL: 4102 732 80 7& 

MUNICH 

THE CHURCH OF THE ASCENSION. Sun. 
11.45 am Hdy Eucharist and Sunday School 
Nursery Care provided. Seybolhstrasse 4. 
81545 Munch (HartacNng), Germany. TeL: 
•1989648185. 

ROME 

ST. PAULS WTTWN- THE -WALLS, 9m. 830 
e m. Holy Eucharist Roe 1: 10:30 am Choral 
Bxhanst Rto It; 1030 am Chuth School tar 
chAdren & Nuraew care provided; 1 pm Spani- 
sh Euchanst Via Napoi 58. 00184 Roma. 
Tel; 396 488 3339 or 395 474 39B9. 

WATERLOO 

ALL SAINTS' CHURCH, 1 si Sum 9 8 11:15 
am Holy Euchanst wdi ChUrerls Chapel 0 1 
1 1-IS Al other Sundays 11:15 am Holy Eu- 
charfg and Suiday School. 563 Chaussee da 
Louvain. Ohan, Betfgun. TeL 302 384-3556. 

WIESBADEN 

TFC CHURCH OF ST. AUGUSTINE OF CAN- 
TERBURY. Sm. 10 a.m. Famly Eucharist. 
Frankfurter Sttasse 3, Wiesbaden, Germany. 
Tel- 496113056.74. 


EUROPEAN 

BAPTIST CONVENTION 


ANTWERP 

INTL BAPTIST CHURCH oflera Engfteti 
lervioss ai tOOd am. & 61X1 pm Sunday. 
Rev. DJ. Abernathy, Pastor & members mad 
al Finish House Chapel, Halielei 69. 
Into- (33) 3. 44& 3017. EteJpum. 

BARCELONA 

FAITH FELLOWSHIP INTERNATIONAL 
meets ai 1600. Bona Nova Baptist Church 
Garrer de la dual de Bateguer 40 Pastor 
La-x» Borden, Ph. 410-1661. 

BERLIN 

INTERNATIONAL BAPTIST CHURCH. 
BERLIN. Rdthentwg Sir. 13. (StegltZ). Bite 
study 10.45, woretfe ai 12.00 earn Sunday. 
Chaites A. Warlord. Pas or. Tel: 030-774- 
4670, 

BONN/KOLN 

THE INTERNATIONAL BAPTIST CHURCH 
OF BcmKOLN. Rtiietaau Sbaase 9. Hah. 
Worshp too p.m Calvin Hogue, Pastor. 
TeL- ( 02236 J 4 ( 7021 . 

BRATISLAVA 

Bite Study nEngfch 

Pafeady Etaptai Ctuth Zrttaeho ? 1630- 
1745. 


BREMEN 

INTERNATIONAL BAPTIST CHURCH (En- 
flteh language) meets at EvangriotvFreldr- 
chfich Kreuzgemeinde. Hohentoheslrasse 
HermanoBose-Str. (around the comer from 
Ihs BahntoO Sunday wmship 17XW Ernest 
D. Waker. pastor. TeL 0479M2877. 
BUCHAREST 

INTERNATIONAL BAPTIST CHURCH. 
Ebeda Popa Ru3u 22. 300 pm Contact B> 
Ffchardson. TeL 01091-61. 

BUDAPEST 

rtemabonal Baptel Fefcwvdip. H Btaito u 56 
(mata ertwra Tapobsanw u. 7, imnedtately 
behind Irort ertonx). 1030 Bite sludy. 600 
pm Pastor Bob Zbinden. TeL: 1156116. 
ReachedbybuBll. 

BULGARIA 

INTERNATIONAL BAPTIST CHUHCH, 
World Trade Center. 36. Drahan TzarAov 
BNd. Worship iioo. Janes DiAe, Pastor. 
TeL 704367. 

CELLE/ HANNOVER 
INTERNATIONAL BAPTIST CHURCH. 
Wtadmubn Strasse 45. Cato 1300 Wtarehp. 
1400 Btie Study, Pastor Wart Campbei, Rl 
(05141)46416 

DARMSTADT 

DARMSTADTIffiERSTABT BAPTIST MIS- 
SJON- Bite study & Worship Suiday 1030 
am Sla cfcn i ssiun Da-CberetadL Bueschebtr. 
22. Etibte study 930, wotshf) 10:45. Pa^or 
Jrn Watt). TeL (£155-6009218. 

DU5SELDORF 

NTEFS'iATlONAL BAPTIST CHURCH En- 
glish. 1030, worehip 1105. ChAdren's 
ctirch and nusety. Meets at rte tot B matbnal 
School. Lauchtenburaer Klrchweg 2,D-Ka»- 
serswerth. Friendy ieicwdiip. AU oenomna- 
tions welcome. Dr. W.J. Deiay, Pasior. 
TaLOZIIHO0 157, 

FRANKFURT 

INTERNATIONAL CHRISTIAN FELLOW- 
SHIP EvaipeSsch-Fretachicrie Gemetede, 
Sodenastr. 11-18, 6380 Bad Horrtoujg. pho- 
nelFar. L61 73-62723 serving the FrarMurt 
and Taunus areas. Germany. Sunday wor- 
ship 09:45, misery + Sunday-school 1030. 
vmmenTB btota stuefes. Houst^jroupe - Sun- 
day + Wednesday 1930 Pastor M. Levey, 
member European Baptist Ccntomtan. "D&- 
dare His glory amongst Dhe nsbons.* 

BETHEL INTERNATIONAL BAPTIST 
CHURCH. Am Oachsberg 92. Franldurl aM 
Suncfey worahip 1 1 30 am and 600 pm. Dr- 
Thcmas W. Ht pasta. Tel: 06EH54S»9. 
HAMBURG 

INTERNATIONAL BAPTIST CHURCH 
OF HAMBURG meets al TABEA FEST- 
SAAL, AM ISFELD 19. Hamburg<lsWoff. 
study aM 1 30 & Worehp al 1230 each 
riy. Tel: 040B20616. 

HOLLAND 

THNnY BAPTIST SS. 930, Worshjp T03a 
nursery, warm fellowship. Meets at 
Bloemcamptean 54 in Wassenaar. 
TaL:O1751-7a024. 

MOSCOW 

MTERNATIONAL BAPTIST FBL.OWSHIP 
Meeting 1100; Kino Center BiASng 15&uz- 
DrudtaifcovskByaULEih Root, HalS, Mafro 
Station Barricednaya Pastor Brad Stamey Hi. 
(095)1503293. 

MUNICH 

INTERNATIONAL BAPTIST CHURCH OF 
MUNICH, HoLstr. 9 Englsh LangiOne Ser- 
vices. Stole study 1630. Worsttp Sejvica 
1740. Pastor's phere €908534. 

PARIS and SUBURBS 

EMMANUEL BAPTIST CHURCH, 56 Rue 
des Bons-Raisins, RueiFMalmateon. An 
Evangelical dweh tty the Enofcdi speaking 
community located in the western 
aixrb&Sil 9:45. Wbratip: 1045. CNUraTs 
Chtstfi and Nueery. Yotih mWariBs Dr. BC. 
Thomas, pastor. Call 47.51.29.63 or 
47.49.1529 tar (tarnation 


PRAGUE 

htamatonaf Btast Fefawshp meats at toe 
Czech Baptist Church V'mohradska 9 68, 
Prague 3. Al metro slop Jirihoz Pudetxad 
Sunday a.m. 11:00 Pastor: Bob Ford 
(02)311 0693. 

WUPPERTAL 

International Baptist Church. Englsh. Ger- 
man. Persian. Worship 10:30 sm, Setastr. 
21. Wuppertal - EtaerteU. Al denominations 
welcome. Hans-Dreter ft aurrd, pastor. 
TeLQ2CeJ4eee384. 

ZURICH 

INTERNATIONAL BAPTIST CHURCH erf 
wadenpwi (Zunch). SMteertand, Rosertoeig- 
slrasse 4. Worship Services Sunday 
momtogs 1 1 30. Tel: 1 -700261 Z. 


ASSOC OF INTT CHURCHES 
IN EUROPE & MIDEAST 


Sunday. 


BERLIN 

AMERICAN CHURCH IN BERLIN, cor. o> 
Clay Alee 8 Rotsdam e r Sir., S.S. 930 am. 
Worship 1 1 am Tel.- 03t>81 32021. 

BRUSSELS 

THE INTERNATIONAL PROTESTANT 
CHURCH OF BRUSSELS. Smday School 
930 am and Church KM5 am Kedtenbeiq, 
19 (at Ihe Ini. School). TeL: 673.05.8 f. 
Bus 95. Tram 94. 

COPENHAGEN 
NTERNATTONAL CHURCH <rf( 

27 Favegadfi. Vertov, near ! 

10 15 & Warship 1 1 30 . TeL 3 1624785 . 

FRANKFURT 

TTUNTIY LUTHERAN CHURCH, Ntoefunaen 
Alee 54 (Aooss from Burger HospSat). suv 
day School 930. worehip 11 am TeL (06^ 
589478 a: 51255a 

GENEVA 

EV. LUTHERAN CHURCH ol Geneva. 20 
rue VenJaine. Sunday wwshp 930. In Ger- 
man llOOn Engfeh. Tet (022) 3103039. 

JERUSALEM 

LUTHERAN CHURCH of toe Hedfeoner. CW 
City. Miroslan Rd. Englsh worship Sun. 9 
am. Alars welcome. TeL (02) 281-049. 

LONDON 

AMERICAN CHURCH In London at 79 Tot- 
tenham a. Pd WJ. WoraNp at 9XXL SS X 
10 00 am. SiTO worship al 11 am Goodge 
SL Tuba Tet 071 -580 2791. 

PARIS 

AMERICAN CHURCH IN PARIS WbrsHb 
1130 am 65, Qua tTOreay, Pans 7. Bus 63 
at door. Metro Alna-Marceau or kwaldes. 
STOCKHOLM 

IMMANUEL CHURCH. Worship Christ to 
Swedish, English, or Korean. 11:00 am. 
Sunday. Birger Jadsg. al Kunasiensg- 
17. 46/ 08/ 15 12 25 * 727 tor more 
■tarnation. 

VIENNA 

VIENNA COMMUNITY CHURCH, Sunday 
worship In English 11:30 AM., Sunday 
school, nursery. rtemafionaL all denomna- 
tons wetiame. Dorttheergassa 16, Vienna 1. 

WARSAW 

WARSAW INTERNATIONAL CHURCH. 
Protestant EngfehbnguageeJoatriates.su> 
days 1100 ant (SepiAtey). lOam. (Jme- 
Aug); Sunday School 955 (Sepl-Mey) UL 

Modowa 21 TeL 43-29-70. 

ZURICH 

wtefnational prcteswnt church 

)*sh apeakng. worloho service, Sunday 
tool S Nursery. Sundays 11:30 tom.. 
i. TeL- (01) 2825535. 


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.Page 6 



Hcralh 


international m 


tribune 

8USHKU »mi THE NMV YORK T1MKS AND THE W.villlSCTON PlIsT 



A World Growing Richer 


I growth. Far ^J3SK>nishiogly rapid economic 

oXto^LT 1 " 1 <*“& il *** n « be* 
fe S TP? OT 8 few «**«* ^ 

! S7S?2 late20th century has been 
more widespread than 
» SnflihJJ. “ blslor y- It » easy to lose sight 

w2JTX i y , P n amid 1116 ““t 

’ srateT^L^f dech ? e “ the former Soviet 

1 SfiE? ^ failure of the rich- 

• rax countries to regain their hi ah srowih 

‘ tteU? 1040?f?‘i? Ul i5f “ 11,31 since 

! 512S ^ *“ bum much better in 

j most places for most people. 

tJfK* Sr0wlh “ “casured in dollars. 
!^H^ 3tcs mto olbcr and much more 

• Kw fT r ^ ucr hea3lh 3011 lt,n s« 

. ™. less harsh physical labor, greater eco- 
;nomic security. There are drawbacks, like 
.aevetopnKms threats to the environment 
, and the dismaying tendency of governments 

• to spend loo much of their new wealth on 
' Jr 8 ®*** 05 - B UI a “ hardly Pollyannaish to sav 
■ tnai the balance remains strongly in favor of 
; the essential human values. 

, Person has nearly doubled in 

uie United States in the past generation, h has 
done more than that in many other countries. 
•In China, income has more than doubled in 


two categories: the ones that have been entan- 
gled in long wars, and most of those in .Africa. 
And yet even among the Africans there are 
notable exceptions. Botswana has been grow- 
ing faster than some of the Asian stars. 

But the locus of the most spectacular 

growth rates in this decade is Asia. Why? 
Scholars and politicians have devoted im- 
mense efforts to trying to understand why 
some economies grow faster than others and 
to applying the lessons to the rest. The search 
for the magic formula is now focused on eight 
or nine Asian examples that are shooting 
ahead in the great race. Is it because they 
emphasize exports? Or is it because they dis- 
tort the market in their favor with govern- 
ment-managed industrial policies? 

Experts differ. But whatever else they may 
be doing, the countries growing most rapidly 
axe almost always those that have put more 
money and more effort into education than 
the other countries at their income level. 
They are the societies that educate not an 
elite but the general population, ft seems to 
be a general rule in rich and poor countries 
alike that the process of economic growth 
begins in the classroom. 

— THE WASHINGTON POST. 


Sidestepping Whitewater 


Senate Democrats are rushing toward a 
partisan cover-up of the Whitewater affair. 
They have voted to bold narrowly circum- 
scribed hea rings in die Senate Banking Com- 
mittee. which they dominate. They are there- 
fore likely to prolong the agony of the 
president they hope to protect. 

By a 56-10-43 vote, the Senate decided to 
limit hearings next month to three elements of 
the case. One is the U.S. Park Police's investi- 
gation into the death of Vincent Foster Jr., the 
deputy White House counsel. Two, the way in 
which members of the White House staff dis- 
posed of Mr. Foster's Whitewater files. Three, 
whether White House officials tried to manipu- 
late Treasury Department investigations into 
Madison Guaranty Savings and Loan. 

This agenda focuses only on White House 
behavior after Bill Clinton became president 
and exdudes far more important questions 
about what happened in Arkansas before be 
and Mrs. Clinton reached the White House. 

To recapitulate; Did James McDougal, a 
Clinton crony who beaded Madison, receive 
.favorable treatment from a bank regulator 
appointed by then Governor Clinton? Were 
Madison funds used to pay off Mr. Clinton's 
1984 campaign debt? Were funds in Madison 
accounts diverted to Whitewater Develop- 
ment Company? How much did the Clintons 
pay for their half share of Whitewater? Did 
they receive financial benefits that they 
should have reported as taxable income? 

In short, the Democrats have chosen to 
ignore precisely those dealings that have 
raised suspicions that the Clintons may have 
•profited from favors dispensed by people who 
■pad something to gain from them. They have 


also shown no interest in Mrs. Clinton's com- 
modities trading, or in the possibility that an 
artful broker may have given her favorable 
treatment. The special counsel investigating 
Whitewater. Robert Fiske. has likewise shown 
Utile interest in this issue. 

The Democrats say their timid agenda re- 
sults from a desire not to undermine Mr. 
Fiske's inquiries. They also promise to get to 
the Arkansas questions next year — safely 
after the midterm elections. 

In March, The New York Times argued 
against a partisan circus and agreed that hear- 
ings should be delayed until Mr. Fiske got his 
feel on (he ground. But we also said the delay 
should be measured in weeks, not months. 
Mr. Fiske has now had time to learn the bastes 
of the case, both in Washington and in Arkan- 
sas; it is bard to see how a broad congressional 
inquiry could seriously hinder him. It might 
even help: past congressional hearings have 
made the prosecutor's case even stronger. 

We also noted that Mr. Fiske could not 
expect Congress to abdicate its oversight re- 
sponsibilities. The banking committees have a 
legitimate interest in the behavior of federal 
bonk regulators and the Arkansas bank regu- 
lators in regard to Madison and its dubious 
lending practices. 

House Democrats are expected to follow the 
Senate’s narrow path. This path does not serve 
the public or the president It leaves unan- 
swered questions that voters desene to have 
answered It prolongs the uncertainty that has 
damaged this presidency from day one of the 
Whitewater affair, and hands the Republicans 
a new — and legitimate — cover-up issue. 

— THE HEW YORK TIMES. 


Poor Mother, Poor Child 


Every year nearly 400,000 Americans are 
bom to girls with no high school diplomas, no 
husbands and few prospects. Eighty percent 
erf those babies will know poverty and more 
likely than not. be cruelly affected by its 
pathologies. Many of them mil replicate their 
mothers' lives and become single parents 
themselves. Soon they will be responsible for 
one out of every three children bom in the 
country. But not financially responsible. 
Last year benefits Tot families begun by poor 
teenagers cost the United States S34 billion. 
The price that those young mothers and their 
children have paid for being bom into pover- 
ty is beyond counting 

This week President Bill Clinton intro- 
duced his plan to "end welfare as we know it" 
and get such youngsters off the dole and into 
jobs. But how can they be persuaded not to 
become pregnant in the first place? The solu- 
tion is as easy to stale as it is bard to execute: 
give them a good reason not to. 

Most adolescents know how to avoid preg- 
nancy. According to a report from the Alan 
Guttmacher Institute, the pregnancy rate 
amo ng sexually experienced teenagers actual- 
ly fell by 19 percent from 1972 and 1990. But 


because the proportion of teenagers who have 
had intercourse grew during that time, the 
overall number of pregnancies stayed the 
same, about a million a year. 

Two-thirds of teenagers use some method 
of contraception the first time they have sex. 
But because there is a gap between sexual 
initiation and marriage (if, indeed, they do 
marry), they run a big risk of out-of-wedlock 
pregnancy. Making contraceptives easily avail- 
able to adolescents, then, may help —but it is 
not enough. Neither, dearly, is preaching absti- 
nence. Neither, so far. is preaching responsibil- 
ity, especially to people whose own parents 
have taken little responsibility for them. 

Going after absentee fathers for child sup- 
port, as Mr. Clinton proposes, is one way to 
impose responsibility. Providing grams to 
schools and community programs so they can 
institute teen pregnancy prevention pro- 
grams, as he also proposes, is also promising. 
But what America's poorest teenagers need 
most is a Tervenu and well-grounded, belief 
that postponing pregnancy can mean an edu- 
cation. a job and, above all. a way out of 
poverty and into the American mainstream. 

— THE SEW YORK TIMES. 


Other Comment 


Beware of 'Repressed Memory’ 

Organized medicine has finally started to 
grapple with the thorny issue of repressed 
memory of childhood sexual abuse. The 
House of Delegates of the American Medical 
Association passed a resolution on Wednes- 
day declaring Aid) memories, often retrieved 
by hypnosis or other therapeutic methods, to 
be of ‘'uncertain authenticity." A few months 
ago, the board of trustees of the American 
Psychiatric Association stated that there is 
“no completely accurate" means of verifying 
such memories without corroboration. These 
actions respond to growing evidence that 


some psychotherapists have planted false 
memories in vulnerable pa lieuts. 

The AMA report is properly cautious, not- 
ing that childhood abuse has often been ig- 
nored by practitioners in the past. It urges 
doctors to address the needs of patients re- 
porting such abuse "quite apart from the truth 
or falsity of any claims." 

The AMA action is fine, but it has no teeth. 
It is now incumbent on the slate boards thaL 
license therapists tc bring closer oversight to 
psychotherapy, which is largely unregulated. 
Too many f amili es have been tom apart by 
apparently imagined memories. 

— Los Angeles Times. 



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SATURDAY-SUNDAY, JUNE 18-19, 1994 


OPINION 




- ? 


W ashington — Africa is a 
continent of immensity. Its 
deserts, waterfalls and vast interior 
spaces dwarf those of other regions. 
So now do its political contradic- 
tions. While South Africa astonishes 
the world by staginga peaceful tran- 
sition to democracy and black-and- 
white role. Rwanda plunges deeper 
into blade -on- black genocide. Zaire 

and other countries totter on the 
brink of collapse as nation-states. 

South Africa, a pariah stale while 
ruled by its white minority, has been 
able to contain its political strife 
well enough to earn Ihepromise of a 
beLter tomorrow. To the north, in 
black-ruled states, coDective murder 
and misrule have become not irregu- 
lar occurrences. 

Racial ideologues will be tempted 
to explain this contrast in terms of 
black inferiority and savagery. But 
the hollowness of such racism is 
shown by ihe South African experi- 
ence. That nation's 5 million whites, 
who comprise 1 5 percent of the 
ulation. dramatically acknowl 
the falsity of the myths of racial supe- 
riority at the voting booths in April- 
Black Africa now faces the need 
to do something similar — to give 
up myths and political systems bufli 
on false premises that ruin their citi- 
zens’ lives. They should examine the 
fact that the South African experi- 
ence is not just the work of Nelson 
Mandela and F.W. de Klerk, but 
also of history, geography and poli- 
tics in the broadest sense. 

The first set of assumptions that 
Africa must deal with date back to 
the colonial era and the wave of 
independence that followed it four 
decades ago. It was widely assumed 
that the horrors of colonialism and 
the struggle for independence had 
forged a lasting national unity in the 
member states of the Organization of 
African Unity that would flower with 
the departure of the colonialists. 

But in their different ways South 
Africa and Rwanda illuminate how 
far from reality that conventional 
wisdom was. Apartheid, a national 
invention of the whiLe Afrikaner 
tribe, triggered a genuine national 
response — black resistance and a 
genuine South African nationalism 
across racial lines. 

The force of colonialism, import- 
ed from Europe, and the national- 
ist responses that it triggered with- 
ered quickly after independence. 
For much of Africa, the future be- 


Bv Jim Hoagland 


gan to go backward, toward tribal 
warfare and despotism- 
The white Afrikaners are the de- 
scendants of tire Boers who trekked 
into the dry interior to preserve the 
fiercely egalitarian traditions of their 
group. The Afrikaners set down strict 
apartheid barriers to divide them- 
selves from blacks and allowed no 
one across the line, no matter bow- 
wealthy, cultured or patriotic a black 
might be. In that sense, the Afrika- 
ners m? 1 ' 1,1 ! 8 *"- their oppression was 
idativdy “democratic.* 

But colonial role to the north was 
built on favoring certain ethnic 
groups, usually minorities, and us- 
ing them to rule over the other 
tribes. That is what the Belgians did 
with iheTutsis, who make up about 
IS percent of Rwanda's population 


and have beat slaughtered merciless- 
ly by vengeful Hutu militia units. 
Whatever tire immediate trigger for 
tires genocide, its roots run mto tire, 
colonial past and further back. =■ 

Colonialism did not offer unre- 
lenting and equal oppression to all 
Africans, as much post-in depen- 
dence literature and histoty main- 
tain, Same tribes benefited from co- 
lonial rule and now, as the T unas 
have, pay a tcmbleand unfair price.; 
The story is the same in country ■ 
after country, through tribal dis- 
crimmatiou or violence". 

Equally damaging to hopes for a 
fresh slan is the lingering bdkf that 
black Africa won its independeoce- 
from the colonial powers by the- 
force of arms: in wars of national 
liberation. That is only partly trite: 


- The borders of most African states - 
as they exist today were created by 
: the cokmialisis. Tire slates they en- 
dose were given" their independence 
‘when tbc colonial powers found it" 
uneoonpnucToonitinue u> rule them. 

■ The ^exceptions are Algeria, "the. For- 
. ; -tugu«e terntdriesand Kenya. 

Arid now cme more: South Africa. 
Jdr.-Maridda and his African: Ra- 
tional Congress forged an effective 
political opposmon to aparthekl 
■ r that the Afrikaners eventually: had 
-to accept into the government in 
. Took and difficult negotiations. 

- -The South African whiles did 

■ not simply dump Enropean-style 

G overnment structures into the 
ands of their favorite Africans, 
and run for the door. (For oce thing, 

' there was no door — no country in , 
would have- taken them back 
.) They resisted fiercely 


until 

On the myth 1960s 

Sal Africans 

~*s!S!SSS£SSSS^m 


impost bor- 
ders d 

But genocide in ^ 

negotiation with ea f^- ot ^ WDr ti 
SEaof Africa’s 
Until now, that seaneri 'f&n 
bfe Bat South Africa has shown 
that African miracles am 
' despite the predictions ^ disaster 

once myths are jettisoned. . 

- . The Woshingm Post. 


ixjjen- ' ■ ■' ' ‘ • - 

£ Spires Stand Mute Where the World Faded to Help 


W ASHINGTON — After 15 
years of reporting on tire vio- 
lence that produces refugees around 
the world, I am familiar with tire 
carnage of war, the smell of dead 
bodies and the butchery of innocent, 
civilians. What I saw m Rwanda is 
different from anything I have ever 
seen before. 

I know the mind goes numb when 
confronted with estimates that be- 
tween a quarter million and half a 
million defenseless people of all 
ages have been killed because they 
are ethnic Tutsi. Maybe it is human 
nature that the immensity of this 
crime can be comprehended only in 
the small details. 

Hundreds of thousands of people 
have been singled out and butchered 
because the shape of the nose or the 
height of the frame seems to identify 
them as members of an ethnic group 
to be erased from existence. 

In village after village, heaps of 
bodies lay un buried, melting into a 
morass after weeks of decay in the 
tropical heat; it is difficult" for the 
visitor to distinguish where one 
body ends and another begins in the 
chaotic mounds of death. Clearly 
risible at other locations is the new- 
ly turned din indicating the exis- 
tence of mass graves, where the vic- 
tims will never be counted. 

The killers in Rwanda are discov- 


By Roger Winter 


ering what the Nazis discovered half 
a century before them: the truth of 
this ultimate crime against human- 
ity can be difficult to keep buried. 
Random arms and legs, demanding 
attention, have somehow manag ed 
to pop up through the loose soil of 
newly dug grave pits. 

Despite the decomposition, it is 
often easy to discern how people 
died. Some succumbed to bullet 
wounds. Most victims I saw woe 
hacked or bludgeoned with mar 
chetes, handsaws, screwdrivers, 

hammers or naD -spiked dubs widd- 

ed by militia gangs. This was low- 
tech genocide (hat was nonetheless 
systematic and thorough. 

We are relearning in Rwanda 
what we learned in Europe 50 years 
ago: genocide entails madly brilliant 
p lannin g and is predicated on cost- 
efficiem killing. 

At locations 1 investigated, the 
breasts of women and the genitals of 
men and infant boys were routinely 
cut off or lacerated. Countless ba- 
bies were dismembered. The logic of 
genocide requires that the young in 
particular not be spared. 

During my travel inside a country 
I have known well and visited regu- 
larly for yean, I saw that thousands 
of families died trapped and cower- 


ing in village churches, to which 
they had instinctively fled fra 1 pro- 
tection. In St. Vincent's Church in 
Nyamata, like so many other 
churches in so many other towns, 
some bodies were ripped by the 
fragments of band grenades lobbed 
in through thewindows- Others who 
were huddled in the churches died 
the low-budget way, by machetes. 

Rwandans are a largely Christian 
people, and now the church steeples 
towering over most hushed towns 
have been transformed into markers 
that fix the exact locations of en- 
trapment and slaughter, not unlika 
the incinerator towers homing omi-. 
nously over the concentration 
camps in Germany and Poland. 

In the village of Musaza, all that is 
left of the bunt of the Tutsi popula- 
tion, upon {^inspection," is a mote 
pile erf dothes. You have to search 
norther inside (he church's school 
rooms for the bodies that those 
<dotbes used to cover. Men,' women, 
children and infants wore rounded 
up and forced to. atrip. That they 
were slaughtered, leaving b ehind in 
a scattered heap their clothes, their 
shoes, their water buckets and their 
straw steeping mats as a final testi- 
mony that they ever existed. 

I sifted through the strewn per- 


sonal effects. examining private let- 
ters, r f amily photos ?na identity 
cards for dues. It seemed as if (he 
inanimate items were des 
trying to cryout, much uke 

of shoes. and spectacJesJeft —~ 
by Jewish genocide victims that are 
now on display ati the Holocaust 
Museum in Washington. 

One personal tetter I recovered, 
written with neat .penmanship by a 
female named Josephine in toe local 
tflngiragfc , Kinyarwanda, described 

r^fcs^^^ind pain,” and ado, 
“Are thechOdren all right?” I doubt 
chat the chfldres are all right. 

International pohcyinaxers have 
tried hard to avoid the troth about 
Rwanda. Perhaps half of a country's 
ethnic ntinoritypopidatiaa has been 
exterminated -since Easter, yet the - 
United States and tbc United Na- 
trons have reused officially to call ir 
genocide because:, the word carries 
Heavy legal obligations. The Geno- 
cide Convention tf 1948 declares 
that genodde-is a crime and legally 
obliges the United States and other 
signatories to lake action to stop it 
or protect its victims... 

The vtriier is director of the- U.S. 
Committee for Refugees, a prime 
hwwniarimaajau^ 
this comment lolhe Woshinston Post. 


Drugs: Washington’s Anti-Dope Effort Needs a Shot in the Arm 


N EW YORK — Charles Scfaumer of New 
York calls the administration's decision 
“unwise, untimely and unusually dangerous." 
Roben G. Torricelli of New Jersey calls il 
"surrender and retreat." 

The two men have several things in common 
aside from the smoke rising gently from their 
ears. Both are Democrats, both head commit- 
tees in the House of Representatives, both are 
committed to the war against drugs, and both 
intend to get the unwise, dangerous, untimely 
act of surrender and retreat reversed fast 
The decision was to break the U.S. radar link 
that allowed Colombia and Peru to trad: drug- 
carrying planes to bases inside their country. 

Three years ago the Bush administration per- 
suaded them that the link was essential to than, 
and to the wider tracking network .connecting 
South America, Central America and the Ca- 
ribbean. Washington was right. The radar in- 
formation became important to the anti-drug 
work of Colombia, Peru and the United States. 

So on May 1, after three years, the Clinton 
administration cut it off. Lawyers in Defense 
and Justice, and some in State, decided that if 


By A, M. Rosenthal 


any drug planes were shot down, under Ameri- 
can law families of shot-down traffickers could 
_sne the United States and American officials, 
could be arrested — maybe even put to death! 

Deputy Attorney General Jamie S. Gorehck 
wrote Samuel Berger, deputy national security 
adviser, that it was “imperative" to cut the 
radar link. WelL When traffickers found that 
no more radar information was going to Co- 
lombia or Peru, the sound of drug planes be- 
came louder in the Andes. South Americans 
thought the cutoff was a double cross that 
threatened their national security and stability, 
not to mention the lives of officials and politi- 
cians who had trusted the American word. 

Mr. Schumer and Mr. Torricelli act fast Mr. 
Torricelli will hold a hearing next Wednesday 
in his Latin American subcommittee. Mr. 
Schumer, a comer in New York politics (poten- 
tial candidate for mayor, governor or one after 
the other), is moving to amend the section in 
the U JS. Criminal Code that makes it an offense 


to interfere with a foreign-registered plane. 

The section was an ami-terrorist measure.' 
How odd to say suddenly that the 1984 statute 
applies to planes that refuse to land os orders 
in red-hot drag areas. 

..The two congressmen said separaieiy-that 
ah- 'amendment to plug the newly discovered 
drug loophole would whip through. Congress; 
particularly if Bill Clinton asked for-tL - 

A few questions tickle the mind. Why did not • 
government lawyers voice their fears about li- 
ability suits before Washington made the radar 
proposals, or during the past three years? Why 
did not their political masters tty to get the law . 
changed fast before the radar link was broken? 

Last week Washington tried palch-up: the 
South Americans would get the radar inform®: 
don if they promised not to shoot down planes. 
The Colombians are less interested in destroying 
planes en route (only two or three have been 
downed) than in tradoag them to base. But they 
could picture drag pilots Dying eerily sure, for 
the first time in drug-war history, that nobody 
would be erode enooygh to shoot at tban- What 

planet did these Americans come, from? 


For anti-dra 
the questions 


around the world 
tup to fane answer:; the Clin- 


ton Ht rfi wwnn Tpn g Jmri-rin'rr^t. 

ics work abroad. Budget cuts for that work 
have, heavily hit the Drag Enforcement Agen- 
cy. Customs, (ht Coast Guard and the State 
Deportment- En that atmosphere, .officials 
-who never appreciated the value e/t interdic- 
tion fed free to ehgilge jh something like the 
radar-cuttmg escapade. ■" 

Among a number of tati-dnjgwwkers. Pres- 
ident Clinton gets good marks for personal 
interest. But they are unhappy about his follow- 

of drug policyfwiio has, the dcareand duty to 
Site at the prestdeat’s anldes when it is going 
wrong. I can help, them there; nobody. 

So not only does ihe ami-dn^ effort^ ^snJIer 
but the prcsiacDE suddenly faces another seri- 
ous flip-flop sitoation; created try himself or his 
.staff — an error that has "to.be reversed if his 
word is to be trusted^ in Latin America, But if he 
its in a call to Mr. Schumer and Mr. Toracel- 
• can hdp bun fast. ' 

• The New York Times. - 


puts ini 
n, thqy i 


Soccer: It’s Frustration, Hatred, Nationalism and a Great Game 


L ONDON — What is it about foot- 
/ ball that makes its followers be- 
have so badly? By "football," I refer 
to the sport (hat people of all nations 
except the United States understand 
by that name: the one you play with 
your feel. The game has a century- 
lon| history of violence. 

Other spons, even the most brutal 
do not regularly occasion riots. Other 
sports do not maintain a global death 
toll of their spectators. As far as I 
know, no other sport has caused a war 
— the “Soccer War” between Hondu- 
ras and El Salvador erupted after a 
World Cup qualifying match in 1969. 

1 write as a student of the game's 
more hysterical manifesu lions. 

Twelve years ago, L an American 
resident in England, was about to 


His face, which was 
initially welcoming, 
snapped shut, became 
focused, s harp like a 
point, with a hatred so 
intense that it was 
exhilarating to behold. 


board a train that was being system- 
atically taken to bits by fans from 
Liverpool inside it Tables, seats, a 
door, an overhead coat rack, a toilet 
seat — all were being hurled out, item 
by item, as panicky British Rail offi- 
cials called for police reinforcements. 
An elementary instinct of self-preser- 
vation prevented me from boarding 
the tram — I took the next one, on 
which only half the carriages were 
being torn apart 

But 1 had witnessed a revealing 
moment. While one pari of English 
society might satisfy Americans’ no- 
tions of how the British are meant to 
behave — drinking Indian tea with 
milk in china cups while eating cu- 
cumber sandwiches on a Saturday af- 
ternoon — another segment is rioting 
in the name of a sporting event. Anx- 
ious that I was sussing an important 
aspect of my hosts' culture, i have 
been attending games ever since. 

The violence, of course, is not the 
preserve of the English alone. In the 
last 10 years there have been soccer 


By Bill Buford 


riots in nearly every country partici- 
pating in the World Cup. 

I offer an example from (he 1988 
European Championship in Germa- 
ny. Toe second week featured a game 
in Dussddorf between England and 
the Netherlands. Both were, and still 
are, notorious for their violent fol- 
lowings, and the prediction was that 
there would be trouble. 

The prediction turned out to be 
largely correct, although the trouble 
was not between the English and the 
Dutch — in nry experience, amiable 
pants with blond hair and big bellies 
who seemed always to be snihng (per- 
haps because, at the tune, their team 
was always winning) — but between 
the English and their German hosts. 

I had never met a German hooli- 
gan, and I wanted to. During a lull in 
a small riot, I crossed a police line 
and sought out a young man who had 
come from causing trouble and was 
dearly on his way to engendering 
more. He was about 20 years old, wiry 
and muscular and very alert. His mus- 
cles were taut, like an athlete's. He was 
agile, primed for fight or flight. 

That woe straw Englisb supporters 

around the comer whom the German 
and his mates 1 intended to surprise He 
was so preoccupied by this prospect 
that be didn’t notice me as l ap- 
proached. To geL ins attention, I actu- 
ally had to Up him on the shoulder. 

There was then, across the features 
of his face, an intriguing metamor- 
phosis. He turned, assuming that I 
was a friend, saw that I was not, 
became puzzled, confused, until, skrw^ 
ly, be realized that I was an English 
speaker. His face, which was initially 
welcoming, snapped shut, became fo- 
cused. sharp like a point, with a ha- 
tred so intense that it was exhilarat- 
ing to behold — the kind of pure, 
uncomplicated haired that can free a 
person to do terrible things. 

He cursed, spat into my face and 
dropped to the ground to pick up a 
stone that he dearly intended to 
crush into my forehead. 1 am not a 
nationalist, nor am I Endfch, arid in 
tire circumstances I did what arty rea- 
sonable person in my position would 

have done; I ran. 

But I remained captivated by that 
instant, involuntary hatred — the pu- 
rity of iL How do you learn to hate 
like that? Wbal images were in his 


bead and where did they come from? 
What movies or comic books or bits 
of overheard conversation? 

What shaped this view, with the 
power of an instinct,’ that to be an 
En glishman such a bad thing 
that it required halting any person 
who had the misfortune of bong one? 

Two years later I was in Sardinia 
for the 1990 World Cup. The occa- 
sion was another match between 
England and the Netherlands. Again, 
the prediction was that there would 
be terrible scenes of (rouble. And 
again there were terrible scenes of . 
trouble, but not between the English 
and Dutch supporters — who were 
still blond, still fat, still insistently 
amiable (although their team was 
then usually losing) — but, again, 
between the English and (heir hosts, 
in tins case tire Italian police. 

The police, in trying to contain . 
the English fans, resorted to tear 
gas, then dogs and eventually guns. 
The fans, chased by hundreds of 
men in uniform, rampaged through 
the streets breaking windows, kick- 
ing in car doors, throwing stones, 
smashing up shops and, in general, . ; - 
exhibiting that special kind of na- 
tionalistic pride with which (he Eng- 
lish male has so consisteatiy distm- 
guisbed himself in his global travels. 

This went on for a long time until, 
suddenly, something strange hap- 
pened. The Italian police retreated. U 
was a trick; they were regrouping in 
order to ambush the troublanakere.^ 
But none of the English fans under- 
stood. Instead (hey thought {hat they " ‘ 
had defeated the Italian police. In 
effect, they had defeated the Italian 
army. In taeir collective fantasy, they 
bad defeated Mussolini. They began 
chanting “England!” over and over, r 

It was a celebration of victory. 
That is when! understood what l-wos 
witnessing. These silly men — 19 or 
20 or 21 years old, despised at home, : 
ridiculed in the press — badly wanted 
an England to defend 

They didn’t want Europe^ they . 
wanted war. They wanted a nation 
they could belong to and .fight for,. 

even i/ tire firfit was this absurd street ; 

theater with local Italian police. 

What does any of tins have to do 
with the sport? I still haven't found • 
a gratifying one-tine explanation.;;' 
Maybe it doesn't exisL lnstead'1 


offer four interrelated observations. 

• Being a supporter of any sport 
is an act of mtero-aationalism. lt 

. satisfies an appetite to belong to. 
something — a team, a tribe, avia- 
tion — bigger, than any of us. 

’■ • Soccer exaggerates this micro- 
nationalism because it is played at 
an international level more often 
than other sports. 

• Because il is organized around 
the principle of frustration, soccer 
exaggerates a crowd’s behavior — 
that quality of frenzy, the essential 
element in' nationalism. American 
sports — basketball, football and 
even baseball — are structured around 
gratifying the spectator points are 
scored with some regularity. Soccer is 
structured around deprivation; a fan’s 
experience is to wait and wait for a 
goal that .in many matches. never 
comes. Frustration, deprivation, deni- 
al. They are the essential features of 
the game whose greatest moment is 
when, against all odds, the ball, finally, 
hits the back of the net. 

• The highly irrational, mindless 
little nationalist waxs.that ^witnessed, 
m DQssddorf and Sardinia were; on. 
some level, merely magnified ver- 


sions of what takes place among all 
^ In a stadjtim; 

"Maybe.; And,.. $s_ the 

the prKMt^^^d^p is unKkefyto 
be as vfctent as previous ones, if only 
because the. English, (hose charming 
ambassadors of ravffized Europe, did 

recall whrat^n the 1990 
World Cup, England lost to Germa- 
ny in the, sermBnals. I, by then a 
devoted 1 foOqwer of the game, was 
devastated, so '‘miserable that I can 
still recall every detail of that terrible 
day: the weather, the dothes I wore, 
"the food I ate, the conversations I 
had, indudiflo the one with a neigh- 
bor who couldn't understand why I 
had.taken h all so badly — after aQ, 
he pointed out, rritnot even English . 
It was .the only ..time I ever con- 
“plated giving tro my passport. 
.. Jit was all I could i ’ 
him one in the nose. 


t do not to bop 


The writer, etEtor of the literary 
magazine Gnmta, is author of * Among 

(heJJmgs, about his Ircneb with Brit- 
ish hooligans. He contributed thi — 
merit to The New York Tones. 


r corn- 


stacked it \ 


furniture out of (he 

up in the unddle of the street, and set 

ffe to i t- There «* * huge blaze 

awnenamved.^ This time it 
was not a Wadt man but a Chinan^ 


IN OUB PAGESt 100, 75 AM? 50 YEARS AG O 

1894 : Anxiely in Berlin 

BERLIN — Tbe concentration of 
Russian troops on the German fron- 
tier is again awakening serious anxi- 
-etv in military aides. The frontier, 
which is 140 mites tent is guarded 
throughout the entire' distance by a 
strong cordon of troops whose mis- 
sion it is to rigorously exclude every- 
one who cannot comply with the se- 
vtrc regulations which exist lor ihe 
control of the traffic with- Germany. 

But the greatest anxiety of the Great 
General Staff here ur the masses, of . 

wtD taoSjn at the 
Koenigspjaa that it is Russia’s inten- 
tiavUK' instant war is declared, to 
hurl enormous bodies" of cavalry 
across tbe German frontier. : ’• 

1919: Rioting in London 

LdNDON— Ritita«has token <sn 
a gain - ha Poplar, London.- A large 
' ■' of-; men- attacked a house m 

" street, deared the 


i 


naman s bome up completely. 

1944: Allies Take Elba 

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*-* - - INTERNATIONAL HERALD TRIBUNE. SATURDAY-SUNDAY, JUNE 18»19, 1994 

Paris Finds No Backing on Rwanda Force [ 


Page 7 “ 


By William Drozdiak 

Wai hiegiort Pan Service 

PARIS — As ethnic violence 
continue*! in Rwanda, France 
Failed to win commitments Friday 
from its principal allies in Europe 
and Africa to engage in direct mili- 
tary intervention and halt the 
slaughter that has claimed an esti- 
mated 500,000 lives. 

in spite of the world-wide ex- 
pressions of shock and horror at 
the genocide unfolding in the heart 
of Africa,' there appeared to be lit- 
tle enthusiasm on the part of other 
countries to respond to France’s 
plea for an urgent ‘'humanitarian'* 
military mission. 

The Western European Union, 
the 10-nation defense group, held 
an emergency meeting in Brussels 
at the request of France and Italy. 
But .Belgium, the former colonial 
power in Rwanda, said it would not 
send troops, and other countries 
expressed wariness about getting 
drawn into the conflict. 


Only France expressed a com- 
mitment to send troops, diplomats 
said. Italy said it would “not ex- 
clude" such a commitment but 
made no promises. Britain said it 
could provide SO trucks and the 
Dutch offered a field hospital and 
air transport, but no soldiers. 

While lamenting the “culpable 
inaction" of the international com- 
munity, France has said that it will 
not act aione. Besides soliciting 
help from European countries. 
Foreign Minister Alain Juppi flew 
to Senegal and the Ivoty Coast to 
drum up support for the mflitary 
operation among France’s former 
African colonies. 

French military officials say the 
government is prepared to send a 
battalion and reinforce it up to 
2,000 troops to set up security 
zones for refugees and to prevent 
warfare from spreading into neigh- 
boring Burundi a nd Tanzania. 

Diplomats said the United States 
supported the idea of setting up 


enclaves to shield the refugees, and 
had agreed to press for United Na- 
tions approval But French officials 
said that while UN backing would 
be welcome, they did not want their 
soldiers to be shackled by the kind 
of confining mandate that has 
turned UN soldiers on the ground 
into helpless bystanders. 

French officials said the military 
operation could last up to two 
months, until a 5, 500- member UN 
aid mission was fully deployed. 

“This will last for some time and 
we realize we could gel drawn into 
hostile fire," a senior official said. 
“So we want to be sure that our 
troops have the means and the 
mandate to protect themselves and 
the refugees." 

French sources acknowledged 
that such a mission would be ex- 
tremely difficult, given the hostility 
of the Tutsi-dominated Rwandan 
Patriotic Front, which now con- 
trols most Rwandan territory. 

Rebel leaders have strongly op- 


An Armed Refugee Uprising 

Rwandans Riot as UN Seeks Surrender of Hutu Leader 


By Keith B. Richburg 

Washington Pott Service 

NAIROBI — Thousands of Rwandan refugees 
at a camp in northwestern Tanzania have armed 
themselves with machetes, knives and sucks, rioted 
and threatened to kill foreign relief workers after 
United Nations officials objected to the presence 
in the camp of a Hutu leader suspected of orches- 
trating massacres of Tutsi tribesmen. 

UN officials and aid workers here say the upris- 
ing at Benaco, the world’s hugest refugee camp, 
has forced the suspension of relief activities and 
food distribution, as most of the dozens of foreign- 
ers have fled the camp for the nearby Tanzanian 
border town of Ngara. 

Brenda Barton, a spokesman in Nairobi for the 
World Food Program, said the rioting and threats 
against foreigners would probably continue to dis- . 
rupt food distributions, since most agencies han- 
dling food supplies on Thursday pulled their staff 
members oat of the camp to Ngara, about an 
hour’s drive away. 

“There's a problem with this Hutu killer at large, 
and there was this threat of retaliation against any 
white faces," she said. 

Panes Moumtzis, a spokesman for the UN High 
Commissioner for Refugees in Nairobi, said the 
standoff was continuing, as the refugees refused to 
turn over the man, identified as Jean-Bapuste 
Gatete, a local government official from southern 
Rwanda who is suspected of having orchestrated 
the massacre of thousands of Tutsis in his town by 
the local paramOitary militia. 

The Benaco camp bouses more than 300,000 
Rwandan refugees, members of the majority Hutu 
tribe fleeing an advance by predominantly Tutsi 
rebels, and of the minority Tutsi tribe, who became 
targets of ethnic daughter by Hutus after the 
country’s Hutu president was killed April 6 in a 
suspicious plane crash. 

Dozens of Hutu extremists linked to the massa- 


cres are believed to have accompanied the one-day 
flight into Tanzania last month of a quarter-mil- 
lion Rwandans. As the refugees crossed the border, 
Tanzanian troops disarmed them, making a huge 
stack of machetes. 

During that initial exodus, Tanzanian authori- 
ties at the border detained about 14 Hutus suspect- 
ed of being militia killers, but aid officials say most 
have been released and are living inside Benaco 


posed any intervention led by 
France. They accuse the French 
government of arming and training 
the Hutu government forces which, 
by most accounts, have perpetrated 
most of the atrocities and genoddal 
acts since the mass killings began 
two months ago. 

•it is obvious the French au- 
thorities arc partly responsible,” 
Major General Paul Kagame, the 
military chief of the Tutsi rebel 
group, said in an interview with the 
Paris daily Le Figaro. “France 
trained the militias and the army 
and it did not condemn the mur- 
derers. France is clearly partial and 
the return of its soldiers would only 
complicate the situation." 

Mr. Juppd contends that France 
is acting exclusively oa humanitar- 
ian grounds and has no intention of 
becoming embroiled in the fighting 
on one side or the other. 

After rejecting intervention for 
the last two months, French diplo- 
mats and military offi cials say, the 
government's position in favor of 
immediate action was prompted by 
a massacre of 160 orphans Satur- 
day. 

"That was the last straw," a se- 
nior French official said “We 
know the hour is late but we can no 
longer stand by doing nothing." 

Before embarking in search of 
support from France’s allies in 
West Africa, Mr. Juppi referred to 
tite dangers of an expanding war 
zone. 

“Tanzania and Burundi are tak- 
ing in a flood of refugees and for 
the latter country, especially, the 
risks of destabilization are great," 
he said 



A southern Yemeni militiaman distributing weapons Friday to civilians in Aden. Ground attacks around Aden havelK^re^rt^L 

North Yemenis Bombard Populous Parts of Aden 


ADEN, Yemen (Reuters) — Northern Ye- 
meni troops fired shells and rockets inio 
crowded districts, of Aden on Friday. 

A southern military statement said north- 
ern Yemeni forces ringing the port city, capi- 
tal of the breakaway southern Yemeni state, 
blasted its northern suburbs at random. At 


least four people were killed in the barrage on 
Friday, and officials said at least 54 people 
died in a bombardment on Thursday. 

The military statement said the barrage 
coincided with ground attacks by northern 
troops on fronts around Aden, 

Families in die northern districts of Aden 


Those suspected Hutu extremists, along with 
other suspected militiamen living in Benaco camp, 
are believed responsible for a number of killing s in 
the camp in recent days. “There had been prob- 
lems with subversive elements," Miss Barton said. 
At least four refugees are believed to have been 
killed at Benaco. 

The release of Mr. Gatete, considered a leader 
because of his past position inside Rwanda, 
proem ted UN refugee officials at Benaco to call 
together community leaders to ask that be be 
removed from camp, Mr. Moumtzis said. He said 
as many as 5,000 aimed Rwandan refugees then 
surrounded the UN officials, throwing stones and 
threatening to kill them, and Tanzanian police 
rushed in and fired into the air to disperse the 
crowd. 

He said the refugees shouted that Mr. Gatete 
was me of them and that foreigners would be 
killed if they tried to remove their leader. 

Mr. Moumtzis said the situation remained un- 
settled since Mr. Gatete was still in the camp, and 
the United Nations, under its rules, cannot be seen 
to be harboring a mass murderer. 

"We don’t want to take under our mandate 
people involved in ItiUmgs," Mr. Moumtzis said. 

TTje presence of posable Hutu militia murderers 
inside the camp has presented a troublesome prob- 
lem to relief agencies, which want to provide for 
the refugees but not to shelter Hutus who fled the 
oncoming rebels to escape retribution for crimes 
against Tutsis. 


started an exodus to safer areas farther south 
id the city. Thousands of refugees fleeing 
fighting have swollen the city's population to 
over 400,000 from the 350,000 who lived 
there before the civil war began on May 4, 
splintering a four-year-old union between 
former North and South Yemen. 


Franklin D. Murphy, Publisher and Educator, Dies 


New York Tuna Semce 

Franklin D. Murphy, 78. a leader in medi- 
cine, higher education, the arts and publish- 
ing, died of lung cancer Thursday in Lo* 
Angeles. He was chairman and chief execu- 
tive of Tunes Mirror Company in Los Ange- 
les from 1968 through 1980. 

Robert Erburu. who succeeded Mr. Mur- 
phy as chairman^ president and chief execu- 
tive of Tunes Minor, praised Mr. Murphy 
for his “drive, passion and commitment to 
every project," his insistence on “impeccable 
standards of business ethics" and his "broad 
perspective that integrated art. history and 
social concerns with the work of a major 
media and information company.” 

A native of Kansas City, Missouri and a 
physician, Mr. Murphy became dean of the 
school of medicine at the University of Kan- 
sas in 1948 at the age of 32. He was appoint- 
ed chancellor of the University of Kansas 
three years later. 

From I960 to 1968. he served as chancel- 
lor of the University of California at Los 
Angeles. When he resigned, he denied to 
reporters that his departure after eight years 


was motivated by the rising frictions between 
the university and the administration of 
Governor Ronald Reagan. 

But Mr. Murphy had been one of the more 
outspoken university figures in criticizing 
budget cuts imposed by the Reagan adminis- 
tration. One year before resigning, Mr. Mur- 
phy had told the regents bluntly, "1 do not 
intend to preside at the liquidation or sub- 
stantial erosion of the quality that 50 years of 
effort have created." 

His fascination with the visual arts led him 
to serve as chairman of the National Gallery 
of Art in Washington, and to become a 
founder of the Los Angeles County Museum 
of Art at its present site. He was also a trustee 
of Lhe Ahmanson Foundation and trustee 
emeritus of the J. Paul Getty Trust. 

Yohanan Bader, a Founder 
Of the Israeli Likud Party 

JERUSALEM (AP) — Yohanan Bader, 
93, a founding father of Israel’s rightist Li- 
kud party and a former guerrilla fighter, died 
Friday. 

A lawyer born in Krakow. Poland. Mr. 
Bader served 28 years in the Knesset in the 


opposition led by Menachem Begin and re- 
tired when the party rose to power in 1977. 
He was active on the Parliament's finance 
committee and served on the Bank of Israel’s 
advisory board. 

He escaped the Nazis by fleeing to Russia 
and later joined the Irgun, die underground 
group founded by Mr. Begin that used terror 
tactics to fight British rulers in Palestine. 

Manos Hadjidakis, Wrote 
Music for ‘Never on Sunday' 

Monos Hadjidakis, 68, a composer who 
won an Oscar for his music in the hit film 
“Never on Sunday," died Wednesday after a 
heart attack in Athens. 

A spokesman at Evangelismos Hospital 
said that Mr. Hadjidakis had died from res- 
piratory problems caused by a swelling of the 
lungs after his heart attack. Mr. Hadjidakis 
underwent a triple heart bypass operation in 
May 1993 in London and had since suffered 
from bean problems. (Reuters) 

William Elgin Swinton, 93, 

Canadian Paleontologist 

William Elgin Swinton, 93, a paleontolo- 


gist whose writings included a seminal text- 
book on dinosaurs in 1934, died Sunday in 
Toronto. 

Mr. Swinton. a fellow of the Royal Society 
of Canada, was emeritus professor of zoolo- 
gy at the University of Toronto, where he 
taught in the 1960s. At the time, he also 
served as director of life sciences at the Royal 
Ontario Museum. He also helped to set up 
the Ontario Science Center. (NYT) 

The Reverend James M. Demske, 72, a 
Jesuit priest and an expert on Existentialist 
philosophy who led an expansion of Canisius 
College in Buffalo, New York, as its presi- 
dent from 1 966 until last year, died Wednes- 
day in Buffalo. 

Bernard Moltessier, 69, a yachtsman who 
sailed one-and-a-half times around the world 
alone and nonstop in 1968-1969, died Thurs- 
day at his home near Paris. He had suffered 
from prostate cancer for five years. 

Roy Allen, 74, one erf the first black televi- 
sion producers and directors in the United 
States, died of cancer May 30 in Clinton, 
Massachusetts. 


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* YOU dm this cwfcde, fo may be yardmer - FOR MARRIAGE. 



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INTERNATIONAL HERALD TRIBUNE 


Salurdav-Sundav, 
June 18-19, 1994 
Page 8 



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//<y* />vntf.T/r mtw/t and door ring, which fetched Si 00.000; early 15th-century Ming dish, sold for £240,000. 

Discoveries in Chinese Art 


JWCT 

L 


International Herald Tribune 

L ONDON — The myth of 
China’s art as a mono- 
lithic entity springing out 
of nowhere and living its 
own life in splendid isolation never 
sounded terribly convincing. Il has 
now become untenable. Three grip- 
ping shows mounted by dealers m 
London and New York bring out 
material, much of it unrecorded, 
that challenges it more vigorously 
Lhan ever. 

At Eskenazfs, in London, the 
subject is “Yuan and early Ming 
blue and white” on view' until July 

SOUREN MELBOAN 

8. ft makes one wonder why West- 
ern museums have not thought of 
doing something of the kind before 
when so many unrecorded pieces 
have come to light. 

The appearance of blue and white 
porcelain is one of the great enigmas 
in Chinese cultural history. Sudden- 
ly. some time under the Yuan Dy- 
nasty (1279-1368) set up by the 
Mongol conquerors, an entirely new 
aesthetic vision prevailed in the an 
form dearest to the Chinese heart 
after calligraphy and painting. 

Sizes became considerably larger 
than they had been in Song times, 
potting sturdier and thicker. A 
whole range of shapes were bor- 
rowed from Iran — drinking mugs, 
inkwells, candlesticks, basins with 
tall sides tapering and curving out 
at the rim, of which there is a splen- 
did hitherto unrecorded instance at 


Eskenazi's. More curiously, the 
rules governing design changed 
overnight. Patterns were bandied 
with a new concern for symmetry 
and covered the entire surface. 

Not least, they restored to a color 
effect, blue on white or, more rare- 
ly, white on blue, that has no prece- 
dent in China. The Chinese called 
the blue ‘‘Islamic.” or Hua. In the 
Middle East, the vessels were im- 
mensely admired- One large dish in 
the show turned up in Syria in the 
late 1970s. Another dish, auctioned 
in London in December 1978. car- 
ries the mark of Shah Abbas I 
(1589-1629), who donated it with 
many others to the Sun shrine of 
Sh eikh Safi Ad-Din Ardebili in 
northwestern Iran. A third one bas 
the ownership mark of the Mogul 
emperor of India. Alamgir. 

These sold smoothly. The Damas- 
cus dish, unique for its iconography, 
incomprehensible in Chinese terms 

but perfectly understandable in Per- 
sian terms (it is a stylized illustration 
of a pool transcribing a standard 
literary image), sold in the region of 
£200.000 ($300,000). A European 
buyer ignored a break — he would 
not find another piece like this one. 
The small dish from Ardebil went 
for about £150.000 two days before 
the show opened: The Japanese col- 
lection seems to have panicked at 
the idea a competitor might gel iL 

One-third of the objects on offer 
have been sold for about £1 3 mil- 
lion. The masterpiece, with purely 
Chinese motifs — a dish with 
primus, bamboo, and pine branches 


auction sales 


IN FRANCE 


B DROUOT RICHELIEU 

P Riip nrmmt- 7H00P Paris - TW • fl 


9, Rue Drouot 75009 Paris -TeL: (1)48 00 20 2a 
Monday, June 20, 1994 

Room 3 at 2.15 p.m. - JEWELL RY - Sale order by the Tribunal de 
Committee de Paris. Experts: MM. Deduut and Stetten. De Sevin. ADER 
TAJ AN. 12. rue Fjvart. 75002 PARIS. Tel : » 1 » 42 t>l 80 07 - Fax: 
f 1 1 -12 61 39 ?7. In NEW YORK please contact Ketty Maisonrouge ft Co. 
Inc. 16 East 65th Street, fifth floor, N Y. 10021. Phone: 1212) 737 35 97 / 
737 38 13 ■ Fax. i 212 • 8il 14 34. 

Friday, June 24, 1994 

Room 10 at 11 a.m. - PAINTINGS. At 2 p.m. - ART DF.CO - ART 
NOUVF.AU. BARON-R1BEYRE, 5. rue de Provence. 7S0O9 PARIS. 
Tef.: 1 1.1 42 46 00 77- Fat Hi 45 23 22 91 

Monday, June 27, 1994 

Rooms 5 & 6 ai 2 pm - M ODERN PAINTINGS - ART NOUVEAU - ART 
DECO. MILLON-ROBERT, 19, rue de la Grange Baiefiere. 75009 PARIS. 
Tel.: 1 1) 48 00 tip 44 - Fax: ( li-*8 00 98 58 

Room II Jl 2.15 p.m. - JEWELLKY - OitfETS DE VTFWNE - ANCIENT 
AND MODERN SILVERWARE. Experts: Mrs Beauvais, M. Fromanger. Mrs 
V&nnique Franutnger. ADER TAJ AN, 1 2. rue Favan, 75002 PARIS. TeL: 
<T) 42 61 80 07 - But tl) 42 61 jW 57. In NEW YORK please contact 
Kelly Mafccmroufle ft Co. Inc. 16 East n5th Street, fifth floor. N.Y. 10021. 
Phone: i212t 35 ^ ■' T3" 38 13 - Fax: ■ 21 2 ■ 861 to 34. 

Friday, July 1st, 1994 

Room 16 at 3 p.m - OLD MASTER PAINTINGS. Expert: M. Turquin. 
.ADER T-VAN, J2, rue Fatart, 75002 PARLS. Tel.: <1 > 42 61 80 07 - Fax- 
1 1.) 42 61 39 57. In NEW YORK please contact Kcny Maisonrouge A Ga. 
Inc. 16 Fast 65th Street, fifth floor. N.Y. 10O21 Phone (2I2i 747 35 97 / 
737 38 13 - Fax t212i86l 14 34. 


HOTEL GEORGE V 

31, avenue George V, 75008 Paris 


12, RUE FAVART 

75002 PARIS, 


TEL (33.1) 42 61 80 07 
FAX: (33.1) 42 61 3957 


Monday, June 27, 1994 

Salon *La Pads" at 8 p.m. - IM PORT ANT MODERN PAINTINGS rnduded 
16 major works by Bernard BUFFET ( 1947-195 U from the former Andre 
Fried, 10 gouaches and watercolors by Salvador DALI from Mrs R. 
Collection. Experts. MM. Padlti and de Louvencourt M. Bailie. On view: 
Saturday. June 25. 11 a.m. - 7 p.m., Sunday, June 26, II xjti. - 8 p.m.. 
Monday, lune 27. 11 a_m. - 3 p.m. ADERTftjAN, 12, rue Favan, 75002 
PARIS. Tel.: U> 42 61 80 67 - Fax i.l.i 42 61 V) 57. In NEW YORK 
please contact Keny Maaonrou^c Sc Co. Inc. 16 East 65th Street, fifth 
floor, N.Y. 10021. Phone: C2I2i 737 35 97 / 757 38 13 - Fax: (2121 

861 M H 

Tuesday, June 28, 1994 

Salon “VendOrne” at 8 p.m. - IMPORTANT OLD MASTER PAINTINGS, 
mainly "Vierge a 1' Enfant avec Saint Jean Baptiste de PONTORMO'. 
Experts; MM. Turquin. Ryaux, Herdhebaut and Latreille. On view; 
Saturday, June 25. 2 p m. - 7 p.m., Sunday, June 26. 2 pan. -8 pjn.. 
Mi mtlav. June 27, 11 a.m. - R pm.. Tuesday, June 28, 10 am - 3p.m. 
ADER T<\)AN, 12, rue Favart, 75 002 PARLS. TeL: i ll 42 61 80 07 - Fax 
1 l.t 42 tiJ 39 57. In NEW YORK please contact Ketty Maisonrouge ft Co. 
Inc iu Em 63lh Street, fifth floor. N.Y. 10021. Phone <2121 737 35 97 / 
757 3B 13 - Fax t212) «il 14 34. 

Wednesday, June 29, 1994 

Salon “Vendflme" at 2.?0 p.m ■ I8th Cent. FRENCH SOFT? AST 
PORCELAIN tfnim Dr R. Collection and other.! mainly: VINCENNES, 
M:VKfc>. CHANTILLY. MFNNFCY. Experts M C. Lcfohvre. assisted hy 
Lr.nLs Lefdivre. At 4 pm. - IHth AND 19th Cent. FURNITURE AND 
OHJETS DART. Experts: MM. IMUce, Lc Fuel and IX- L’Espee. At 6 pan. - 
EASTERN ART FROM MAISON PF.KKET-VIUFKT iMaLson founded in 
IWitt l“lh 1 .. 19ih Cent. FURNITURE AND OHJETS D'AKT. Sale nn.ler ly 
the- Tnixinn! de Gnnmenr de Dim. Expert: M Dirtier. On view: Saturday. 
June 25, 2 pm - "t pm, Sunday. |une 26. 2 pm - 8 pm. Munday, June 
27. 11 a m. • 8 pm, Tuesday. June 2H. Ill am -3pm.. Wednesday. June 
29. 10 a m. - 12 a.m. ADER TAJAN, 12. rue Fat-art, 751*12 PARIS Tel: 1 1) 
42 i«l Hn iC ■ Fax. ( It 42 i'll 3 1 * 5 7 In NEW YORK phase c«miaci. Ketty 
Mais» inrmige ft Ct- Int 16 Ejsi 65ih Street, fifth floor. N.Y. l«12i. 
i'lunie: t2I2> 7,37 35 'P ‘ ”37 .VI I.? - Fax. I2I2» ».l M 3 1 . 


— was. comparatively speaking, not 
expensive at £240.000. In 10 or 15 
years, pieces of that caliber will have 
vanished from the market altogeth- 
er. 

The greater the novelty’, the great- 
er the commercial impacL The sea- 
son’s hit is James Lolly's show on 
view in New York at 41 East 54ih 
Street until June 25. With only a few 
more days to go, the total sold since 
June I adds up to almost S4 million. 
94 percent in value of the 64 pieces 
on offer, leaving only right objects 
available. Lally confesses he is sur- 
prised. He thought the jades that 
make up two- thirds of the show 
would be too esoteric to sell quickly. 

Esoteric they may be. But to any- 
one interested in the origins of one 
of the world’s great civilizations they 
hold an irresistible appeal. The 
Hongshan culture, as it is known 
after the main site, was identified in 
1986. and its jades, such as the as- 
tonishing pendant in Lally s exhibi- 
tion. are broadly dated 10 about 
3800 to 2700 B. C. Scholars see them 
as the ancestors of the first recogniz- 
ably Chinese jades created several 

centuries later. IT that idea should 
gain acceptance, the implications 
would be revolutionary. 

The Hongshan culture was cen- 
tered in Liaoning, outside the Chi- 
nese world until at least the eighth 
century. The area may have been 
Turkic or Mongol. More details will 
undoubtedly emerge in coming 
years. In the meantime, objects such 
as the highly stylized mask carved in 
low relief, one of only three known 
so far with the suggestion of a face, 
have an aura of mystery. The price 
quoted to those miring inquiries on 
June I, $75,000. did not stop the 
pendant from going within minutes 
of the opening. 

The same enthusiasm greeted the 
objects of the Liangzhu culture. Its 
most extraordinary objects were ex- 
cavated at Fanshan in 1986. They 
are considered to date from 3300 to 
2250 B. C. Here the connection with 
the earliest fully developed histori- 
cal culture of China, that erf the 
Slang Dynasty is unquestionable. 
Small jade objects are engraved with 
tightly incised, highly stylized 
masks. One of these, only 225 inch- 
es (5.5 centimeters) wide, was re- 
served before the opening by an 
“Asian” buyer, as Lally puis it to 
protect bos identity. Confirmation 
followed the moment the show 
opened, the $80,000 asking price 
notwithstanding — no such piece 
has ever appeared in the Western 
market. 


The greatest revelation in the 
discoveries relating 10 the Liangzhu 
culture is the fact that the vessels 
known as cong — cylinders encased 
in square section walls — were al- 
ready bring produced long before 
the Shang. The Liangzhu congs 
with discreetly suggested faces can 
be of breathtaking beauty. Such 
was the Lally vessel. 15.9 centime- 
ters high. Here too the object, car- 
rying a stiff S280.000 price tag. was 
nevertheless sold before the open- 
ing. It went to a Japanese collector. 



months old. A man of unbounded 
sentiment, Strichen took lasting 
pride in his European roots. At the 
turn erf the century be went to 
London and Paris to make Ms 
reputation as a painter and pho- 
tographer. He then capitalized on 
it m New York, first in die pages 
of Alfred Stieglitz’s Camera Work 
magazine, later in Vogue and Van- 
ity Fair. 

In World War I, Strichen re- 
turned to Fiance m the American 
Expeditionary Force, command- 
ing a photo reconnaissance 
group. When the United States 
entered Worfd War II he was 63. 
He nevertheless talked his way 
into a navy ct tr n TT i ksinn, beading 
the “Stricken group” of navy 


titled "The Famflv ttlibuJwjSb 
Gramfe'^ 

outdated at ^ Aa»aqia A>- r : 

mestic imperialistic. "i W 

A scooafl disfearzo im e s, 
Oiristian^^fcrCf^C 
pbotoageDcy w «od 
liberation - Bwfepsper.ylte; ficlt.j 
that • ihe : y 


T HE spaie of supposedly 
“ clandestine” excavations 
that have been going on 
for the past two decades 
have not just revealed previously un- 
known cultures. They have also 
brought 10 light some objects of a 
beauty hitherto unmatched in some 
of (he familiar styles. Nothing quite 
like the 46-centirnetcr bronze mask 
holding a door ring bad ever ap- 
peared among the Han Period (206 
B. C.-A. D. 220) finds. This is one of 
the great masterpieces of Chinese 
art At $100,000. the asking price. 
Lally had no trouble persuading an 
American collector to go for it on 
the opening day. 

Discoveries are being made from 
much more recent times as well. 
This is true of the 18th century, 
when China was more susceptible 
than ever to outside influence. 
Some striking examples of this may 
be seen at the Oriental An Gallery 
in London where the selling show 
of Chinese an is on until June 24. 

The art of paimed enamel vessels 
is one that emered China around 
1700. if not a little earlier. In this 
era of accelerating East-West con- 
tacts. ihere were some remarkable 
cases of interchange. A pair of bal- 
uster vases painted with a floral 
design on an imperial yellow 
ground carry the mark of the Qian- 
long reign (1736-1795). The shape 
is of Chinese origin, but it appears 
here in its interpretation by North 
European goldsmiths who gave it a 
hexagonal section. The Chinese 
artist borrowed this back and a 
German buyer found the pair, pre- 
viously not reproduced in print, 
impossible to resist at £9,000. Tibet 
occasionally served as a model not 
just Tor export ware, but for ritual 
Buddhist objects such as 1 he cloi- 
sonne enamel reliquary probably 
commissioned by QuianJong for a 
Lamaist temple ra Beijing. 

There is still much to discover 
about this 6,000 year-old culture. 


After the war, Strichen became 
director of photography at the 
Museum of Modern Art in New 
York. He had already produced 
two MOMA exhibitions on war- 
time propaganda themes: “Road 
to Victory” and “Power in the 
Pacific.” Now be sought to use 
pictures 10 promote peace. 

His first effort, to show the 
horror of the Korean War, with 
photos by David Douglas Dun- 
can, disappointed him. “People 
flocked in great numbers to see 
it,” he said. “They found some 
pictures revolting, some deeply 
moving [but] they left the exhibi- 
tion and promptly forgot iL" 

S THCHEN had been talk- 
ing with his brother-in- 
law, the poet Carl Sand- 
burg. about an exhibition 
that they began to call “The Fam- 
ily of Man.” Strichen found the 
expression in a speech by Abra- 
ham Lincoln. He persuaded Nel- 
son Rockefeller, with the blessing 
of MOMA's director. Rene d’Har- 
non court, to pul in> some money- 
work began in 1953. .As principal 
asastanL he hired Wayne Miller, 
one of the photographers of his 
navy group. In Wayne he found 
the son be had never had. 

Miller went through 2 minion 
pictures in the next two years. 
Together they boiled them down 



Edward Steichen. in 1971. two years before his death. 


to 10,000 and (hen to a final 503, 
from 68 countries, by 273 photog- 
raphers. “The Family ot Man" 
opened at MOMA on Jan. 24, 
1955, and has since been seen by 
9 million viewers in 69 countries. 

After a meeting with Grand 
Duchess Charlotte of Luxem- 
bourg at the White House in 
1963, Stricken decided to give a 
copy of the exhibition to his na- 
tive land, bnt the Grand Duchy, 
tgrlrinp both funds and imagina- 
tion, didn't know what to make of 
the gift It langrished. deteriorat- 
ing, until Rosen Krieps, a Luxem- 
bourg joumalisL embarrassed the 
government into action. In 1 989 a 
National Audiovisual Center was 
created, headed by Jean Bade. * 

Back knew what to do. He 
called .Anne Cartier-Bresson, 
conservator of photographs for 
the Gty of Paris, an internation- 
ally known expert. She was ap- 
palled by ibe condition cf “The 
Family of Man” and arranged for 
Silvia Be^elli. her former stu- 


dent. to bead a restoration team 
of five. It took them three years. 
The government has now invest- 
ed S3 miDion in the project, not to 
mention the cost of restoring the 
war-damaged cbflseau. 

Bade derided to road test the 
show’s appeal, first in Toulouse. 
The curator Jean Dieuzaitie ar- 
ranged to house “Fanxfly^in a 
former refectory of the Jadbltizt 
convent. Thirty thousand visitors 
came in three months. ■' 

The final tryout was m Japan. 
In 1956, “FOM” had paid a visit 
to Tokyo, Steichen along with it 
As a gesture of goodwill, he added 
60 photos by Japanese {Aotogra- 
phecs and withdrew five relating to 
the atom bomb — to StSoce the ' 
emperor to visit the show. .• . 

The exhibition made an indeli- 
ble impression on Goto Kuramo- 
chi. then 15. Now an internation- 
al dealer in photography and 
exhibitions, he brought the Show 
to Japan late last year, to Tokyo 
and Hiro shima There it was 


1 . chose the pictures 
reafiy 

thcn L Tig xjje efee 

Hajr 

bhkm was designed araritearit 

tie 

co nu ibale d to “The FsnaD-cf , 

fortunaSy, there was 
the original catalogue; aa'«fcf-‘: 
eighr flat remains attoorieCSed^ 
Thus st'iW*" g»***Tt 
ry, although his only 
in “Family’’ is one of j» oottietV: 
Perhaps he pkmnedit ; 

Lmtastbam& the a 
exhibition cf 

emmChL 

OrirefoBtaise, Noflyeai; to*** v 
LuxesnbonrA tiffs' & €u&sdrf~ 
Capitri rf Bttppt; tflrit 3wffl.be^~ : 

a**™*- :1 " 

John G. Morris rj a fonnefpk : .. 
tore editor of The New YttdrWm ;\ 
and fanner Paris corresponde/df# 5 
National Geogrcphic. . 


An Artistic Look 


at Depression ^ 


By Ken Shulman 


V ENICE — The alchemist, 
who transmutes base 
metals — and base in- 
stincts — into gold. The 
gamblez, who buttresses his intellect 
with a series of abstract rules to 
confront a universe with no rules. 
The collector who builds a barrier of 
wdLordered objects to waQ out cha- 


os. The traitor who betrays the reali- 
ty he is unable to change. The build- 
er who erects structure after 
structure in a frenetic, obsessive raoe 
against nothingness. 

These are some of the masks that 
personify the unfathomable rela- 
tionship between mental illness and 
creativity and the five movements of 
a polyphonic exhibition in Venice 
about an and depression, entitled 


ART EXHIBITIONS 


puis 


un reve plus loin 


Td Prefer Not To: Five Rooms 
About Depression and Art." 

Hie title of this exhibition comes 
from H erman Mdvflje’s “Bartieby 
the Scrivener," a stay whose pro- 
tagonist is a thoroughly depresed 
shipping dak whose psychic stale 

im pede^ him fmm making any dflfli- 

ston, even the simplest At Venice's 
Museo Cotter through July 3, Td 
Prefo- Not To" is a stimulating 
antbdogical show that examines the 
diaphanous and visceral relation- 
ship between artistic creation and 


ties, poetry or m the arts; ans beUk 
choly," wrote Aristodejaha^tk 
kmata.” “And some of tiNBi to 




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June 7 - July 30, Monday to Saturday, 10 a.m.-7 p.m. 


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ANDREW ENGAMELLS 

In the Mind's Eye 

Cityscapes and Landscapes - Real and Imagined 
Architectural Watercolours, Drawings and Etchings 

22 JuLe - 15 July 

C ata lo gue available, price 050 



1 

yv"TT r 


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Weekdays 10 - 5.00pm Saturday 10 - 4.00pm 


Oliva, former Venice Biennale direc- 
tor, the show projects a spectrum of 
artworks that spans five centuries, 
beginning with Titian, Pontormo 
and Giorgione, and fanning into the 
contemporary age with Jams Koun- 
ellis, Jim Dine and Andy WaxhoL 
“I began thinking about the rap- 
DOrt between art and denrnKinrtm 


the 1 970s, when I was writing about 
the Mannerists,” Bonilo Oliva said. 
“I realized that the Mannerists' 
style was the response of a de- 
pressed mind confronted with the 
discomfort of living in a chanj jp 
and disorganized world.” 

The relationship between depres- 
sion — or melancholy —and art has 
been observed since classical times. 
“AD truly noteworthy men. be they 
disti n g ui s he d in philosophy, pofr- 


ANTIQUES 


by the black bile.” A host ‘of 
cval. Renaissance, a nd nw ftrfti 
thinkers including Mkfadangti&r 
Kant, Rousseau and Jong hast 
placed the same .deScate, ' 
symbiosis in their wx&Dgs* 

Td Prefer Not To" fan™ 
btogi^dncal aMMabaae^ 
cho-soaok)gicaltTeat^^Nori 
make a substantial statement; 
the’ ' ”* 


At brat^Vlhe 


ness. and 

show castsa narrow, 
asficeof common 
depression in ait. Yri tKs is 
and brighttoouj^h to he cf iniete^ 
This is not a show abci^^; 
pressed artists, dr about 


uuu. uc wyraamg, sa 

Oliva, who has Jris own 
feel tlepressed" after 


ORIENTAL ANTIQUES 


Wa tMirand van Japanesa AAiqiHs ot 
the EUq tmd Maip FatfodK 

Sabuna. hnari. Japanese ctotsorev, 
txnoss. Sanud wrerts, atfo(p and annar. 
(l«i cantwy trough 19#i oanuy.) 

FLYING CftANES AKIMUES, LID. : 

10S0 Second Avaiue. QaBBfy ass 

New York. N.Y. 10022 
Tat (2132234600 - Fa* 02132234601 


COLLECTORS 


tor of die Vemce Keamafe. I 

have tried to do is 'to 
serin of artworks that ilhistratrii 
particular menral i 
stale of depression. 

With five, manageable rociffljr 
each <rf whidi is dominated-fe^.a» 
of the five archetypri %rit!U|jaioB7' 
ated wtto depression' 



HARRY PANE 
wishes to purchase old 

CARTIER 

objects: 

docks, cigarette case*, powder . 
desk accessories, photo francs, etc. 

Please contact: 

OBSIDIAN, London 
Tel: 071 -930 8606 Fac 071-839 5834 


Albrecht D0rert45f*a^ 
“MdencoBa I,” Luaci-Fbinafl^s 
1968 “Goncetta Spaziale, 
and Enzo Cucchi’s 
“Uccdlo Nero.** 


ral and thematic ^ 

tcncies and OYerlappingarcini^^ 
We. Souk . of the groupings -at* 
tenuons, and at least two 
rooms — the cdlsabr 


their artworits without i ury 
coherence. One gets a sena^ 
^dftefm Not Tb”V«m^ 
Bomto Oliva's visual vrisi 0 ttr;bf 


attempt to illustrate 
intriguing and very topicalTbem^ 
SttU, it is a diow; thatma£e$flba 


*C* i *i 0 


1 , Ia\ii nn 



















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International Herald Tribune, Saturday-Sunday, June 18-19, 1994 



Page 9 



THE TRIB INDEX: 112.27® 

International Herald Tribune World Stock Index O, composed of 
280 interna tionaHy invastable stocks from 25 countries, compiled 
by BtoOmberg Business News. Jan. 1, 1992 = 100. 

- 120 



1983 

1994 

1993 

1994 

j North Ametica 


Latin America 


Appro. Mkjhfev 26% 
Qora; 93.17 Pro.: 9333 

BbB 

Approx, weighting: 5% 
Oosk 11M4PIBVJ 114.18 

SH 



The into tacks US. okttr values of stocks it Tokyo, Now Yortc, London, and 
AfgMtfna, Auslrala, Austria, Baigium, Brazil, Canada, CMa. Demnork, Fuitetd. 
Franco, Gonnany, Kong Kong, Italy, llanca, Nattaulands, New Zestand , Norway, 
Singapore, Spain, Sweden. O wte artand and Venezuela. For Tokyo. Now York and 
London, the Max is oampasod of the 20 top issues ki terms of market cBpOaSzattoe. 
mhetwlse melon top stocks are tacked. 


j tndustriat Sectors 1 


W. Pm. % 

' dose dost dtssgs 


FA 

dote 

Prt*L 

dm 

* 

mage 

Energy 

110S0 110.46 +0.40 

Capkal Goods 

114.41 

11179 

+054 

USte 

.11737 117.14 +0.71 

RmIMkWs 

12634 

125.49 

+0.60 

fhance 

11636 11622 +0.64 

Consuraer Goods 

9639 

9 737 

+0.43 

Sendees 

11631 11679 +002 

■sedmooi 

124.73 

12651 

+039 

For imwMxmaliDnaboidiha index, a boddel e avaSahte free of chaiye. 

Wftr to TrS) Index, 181 Avenue Charles de Gavlh. 9ZS21 NeuByCgdex, France. 


• r. .-'.I il, c. 1C. - . 


© fntenwtionaJ HanU Titax» 

^•-. ■ r-’: : '»•. 


Procedo 
Executive 
Arrested 
For Fraud 

Compiled by Oar Swff From Dispatches 
FRANKFURT — The chief ex- 
ecutive of Procedo Geselischafi fQr 
Exportfactoring was arrested Fri- 
day, and an accounting firm said 
documents issued in its name h ad 
been forged as pan of the fraud 
case revolving around Balsam AG. 

Dieter KUndworth, Procedo’s 
chief executive and co-owner, was 
arrested in Wiesbaden and charged 
with being pan of an elaborate Bal- 
sam scheme to fraudulently obtain 
hundreds of millions of Deutsche 
marks in credit. 

Meanwhile, Arthur Andersen & 
Co. said invoice certificates issued 
in its name on behalf of Procedo or 
Balsam AG had been forged. 

The invoices were presented to 
Procedo’s and Balsam’s creditor 
banks, the accounting company 
added. 

Arthur Andersen said it was 
made aware on June 3 that Procedo 
had received a certificate on June I 
of ag invoice allegedly issued by 
Arthur Andersen. 

It said later h found out that 
many more such certificates had 
been sent, allegedly from Arthur 
Andersen's office in Sl Louis to 
either Procedo or another firm. 

Last week, the top manag ement 
of the bankrupt floor-maker Bal- 
sam AG were arrested on charges 
of credit fraud. Prosecutors allege 
that Balsam obtained at least pan 
of loans totaling 1.9 billion DM (SI 
billion) from Procedo on bogus in- 
voices. 

On Friday, a Bielefeld court re- 
fused to release Friedd Balsam, the 
majority owner of the company, 
who claimed he was wrongfully de- 
tained. Balsam’s chief financial of- 
ficer has confessed to charges. 

Horst Schmiedeskamp, the pub- 
lic prosecutor, said that Mr. Klind- 
worth was himself part of the plan 
to defraud a group of creditors that 
included every large Goman b ank 
Procedo, after lending Balsam at 
least 1.9 billion DM, that tuned lo 
its banks and obtained loans from 
them that were secured on its cred- 
its to Balsam. 

(Bloomberg, AFX, Reuters) 


SAS’s Japan Test Case 

Its Job Cuts in Tokyo Spread Shock Waves 


By Steven BrulJ 

Jniemauvna! Herald Tribune 

TOKYO — The left lapel of Yorinobu Outfli’s 
suit still sports the diamond-studded pin he was 
given five years ago after 25 years with Scandina- 
vian Airlines System. Bui now. Mr. Otani. like 
other Japanese employees who learned abruptly 
last week that they had become too expensive to 
keep on the payroll, feels duped. 

“1 had pride in this company until last week.” 
said Mr. Otani, head of the passenger sales division 
in Tokyo. “But now 1 feel deeply betrayed.” 

Japanese companies — or foreign ones doing 
business here — are not supposed to sack workers. 
It is legal, of course, to do so. Bui most Japanese 
cut staff only as a last resort Even then, they do so 
discreetly, demoting workers of transferring them 
to remote offices; the humiliation is usually suffi- 
cient to make employees quit 

So when SAS announced last week that it want- 
ed its entire Japanese staff of 141 to accept early 
retirement the event drew national attention. Re- 
sentment among workers was exacerbated because 
the airline said it would rehire 31 employees under 
less generous tarns. Most of the Japanese workers 
went on strike Although they returned to work on 
Friday — to prevent outsiders from taking their 
jobs, they say — others were handing out protest 
leaflets at Narita Airport and the Ministry of 
Transport. 

“If SAS can get away with this, then it will 
spread to other companies, not only airlines.” Mr. 
Otani said Friday. 

The move by SAS, which has been running 
deficits for the past four years, is extreme by 
Japanese standards and is likely to be settled 
eventually in the courts. No matter what the judg- 
ment, though, analysts say Japanese workers will 
have to leatn to accept a more hard-edged deal as 
the cornuy becomes increasingly exposed to inter- 
national competition. 

“It’s a conflict between economic reality and the 


Japanese social contract — and economic reality 
will win out in die end,” said Hanio Shimada, an 
economist at Kdo University in Tokyo. “Japanese 
labor practices will look completely different in 
five to 10 years.” 

The signs, in fact, are already on the walL 
Japanese bookstores are crammed with treatises on 
corporate re-engineering; and everyone from com- 
pany presidents to politicians are talking about the 
need to get rid of deadwood in the work force and 
make it easier for employees to change companies 
mid-career. 

Economists say there may be as many as 2 
million employees of Japanese companies who 
have no economic necessity. They are tolerated 
because, unlike SAS. major Japanese companies 
cannot afford to be seen slashing staff in ways 
commonplace in the West Instead, companies 
have worked around the margins — cutting over- 
time and bonuses and reducing luring of new 
graduates. Female employees and foreign workers 
have borne the brunt of reduced job opportunities. 

But even though the longest recession in Japan’s 
postwar history is showing signs of aiding, econo- 
mists say the nation's remarkably low 2.8 percent 
unemployment rate will continue to climb, per- 
haps as high as 4 percent. As it does, the practice of 
lifetime employment, predicated on fast economic 
growth that has become untenable in Japan's ma- 
ture economy, also will come under pressure. 

“During the fast-growth period of the 1960s and 
70s, elimin ating jobs was never even a consider- 
ation,” Mr. Shimada said “But now companies 
face a huge challenge from global competition,” he 
said, noting that the end of the Cold War had 
brought an additional 2 billion workers onto the 
labor market. 

Takeshi Nagano, president of Nikkeiren, the 
Japan Federation of Employers Associations, 
sounded a warning early this month when he said 

See SAS, Page U 


Falling Dollar 
And Inflation 
Hit U.S. Bonds 


Compiled by Our Staff From Dispatches 

NEW YORK — A negative re- 
port about the denial’s prospects 
and fears of inflation spurred by 
rising commodity prices combined 
to push UJ5. bond prices sharply 
lower Friday. 

The benchmark 30-year bond 
dosed off 31/32 point, at 85 26/32, 
which raised its yield to 7.45 per- 
cent from 7.35 percent Thursday. 

The dollar was more than 2 pfen- 
nig lower in New York after the 
Conference Board's chief econo mic 
said the dollar could fall more than 
10 percent by the end of next year. 

Meanwhile, the Commodity Re- 
search Bureau’s index of 21 prices, 
closely watched as an inflation in- 
dicator, rose a sharp 1 .91 points, to 
239.18. 

A falling doDar and rising com- 
modity prices say “to me it’s going 
to be inflationary” for the econo- 
my. said John DeAngdis, a senior 
trader at UBS Securities. 

The combination “smells like in- 
flation,’' said James Hale, senior 
Fixed-income strategist at MMS In- 
ternational in San Francisco. 

“There's still a lot of bearish sen- 
timent out there,'* said Ray 
Goodner at IDS Financial Sendees 
in Minneapolis. Chances that 
bonds will rally are slim b ec ause 
people are taking advantage of anv 
upticks in bond prices to sell their 
holdings, Mr. Goodner said. 

Despite an international chorus 


of government officials assuring 
markets that inflation was not a 
problem in recent days, there seems 
to be a move away from bonds and 
into equity investments, anal ysts 

said. European bond prices were 
stable Friday after sharp falls on 
Thursday, but Asian bonds fdL 
Rob Hayward, economic advisor 
at Bank of America in London, 
said “people are becoming more 
interested* in direct investment in 
industry. 

Similarly, George Magnus, econ- 

See BONDS, Page 10 


Hollywood Has Talent for Multimedia 


By Bernard Weinraub 

New York Times Service 

LOS ANGELES — One of AT&T Corp.'s 
highest-ranking executives will join Creative 
Artists Agency, the Hollywood talent agency, 
in an unexpected move that advances the con- 
vergence of entertainment, information and 
communications. 

The executive, Robert Kavner. 50. is the 
former chief financial officer of AT&T Corp. 
and now heads the telecommunications giant's 
expanding multimedia efforts. 

When he joins Creative Artists Agency on 
July 1. Mr. Kavner will be in charge of seeking 
opportunities for directors, writers and per- 


formers in the rapidly expanding arena linking 
personal computers to on-line services involv- 
ing. at the outset, education, shopping, films 
and video games. 

Both Hollywood and Wall Street were sur- 
prised by the appointment of Mr. Kavner, one 
of four AT&T executive vice presidents. 

But for Michael Ovitz, the chairman of Cre- 
ative Artists Agency, this was yet another brash 
move that has turned him into probably the 
most formidable dcalmakcr in Hollywood. 

The move clearly placed rival talent agencies 
— as well as studios — on notice that the so- 
called information superhighway was now an 
integral pan of Hollywood's future. 


Some rival agents said that the appointment 
of Mr. Kavner was perhaps less beneficial to 
Creative Artist Agency’s clients than to Mr. 
Ovitz, who now faces the prospect of becoming 
an even bigger dealmaker and a virtual invest- 
ment banker in sharing pacts between technol- 
ogy companies and studios. 

In announcing Mr. Kavnei's appointment, 
Mr. Ovitz said: “The technology driving the 
changes in our industry is evolving very, very 
quickly. We are seeing the convergence of cre- 
ativity and communications technology in ways 
that deliver entertainment and information ser- 
vices more quickly, more fully and with greater 
ease for the consumer than ever before.” 


Share Offering 
In Mondadori 
Oversubscribed 

Reuters 

MILAN — Bids from inves- 
tors amounted to four times 
the available stock in Prime 
Minister Silvio Berlusconi’s 
Mondadori publishing compa- 
ny, in which a majority stake 
went on sale Friday. 

Amoldo Mondadori EdT 
lore, Italy’s largest publishing 
company, had put 66 mini on 
common shares, or 51 percent 
of its total capital, up for sale 
at 15,000 Hre (S9.40) a share. 

The sale was part of a reor- 
ganization of the business- 
man-politician’s Fininvest me- 
dia empire decided on before 
he won power in general dec 
lions in March. 

“Requests for shares by 
June 16 were equal to four 
times the amount on offer,” 
Mediobanca SpA, global coor- 
dinator of the share offer, said. 

The share float, which re- 
duces Mr. Berlusconi's holding 
in the publidier to 47 percent, 
was open for just two days. 

With Mondadori boosting 
its profit nearly 50 percent, to 
87 biQion lire (S53 nriHion), last 
year, the success of the share 
offer had been expected. 


ECONOMIC SCENE 


U.S. Consumer Spending Heads Down 



By Keith Bradsher . . 

Sew York Tunes Sendee 

ASHINGTON — America's 
constnneis are starting to cut 
bade their spending, slowing 
. . the economy’s expansion. The 

drop, economists say, is the result of h ig her 
interest rates, declining savings and the evap- 

- oration of pent-up demand as families have 
. splurged on cars and other goods over the last 

year. 

' The Federal Reserve has attributed to the 
drop with four increase this year in short- 
term interest rates, which have pushed up 
borrowing rates. This has put an end to 

- windfalls for homeowners who bad been tak- 
ing advantage of low interest rates late last 

: year mid eariy tins year to refinance that 
vfeq ancn ttMet-lte^towdown comes after a year 
j *c ; in which growth fa consumer spending out- 
stripped growth fa income. 

W eakening consumer spending on big- 
ticket purchases such as cars and household 
appliances is already beginning to hint some 
sectors of the econom y , although few if any 
people are predicting another recession. 

* The 45-employee Hiwasse Manufacturing 
Co. fa Jrcksonville, Arkansas, for exanqrie, 
jjat e v eryone oh overtime just two months 
ago arid and hired five new workers, but still 
had an eight-week backlog of . orders for 


1 diyds. That has shrunk to four weeks, ;and 
manag ement' Is beginning to worry. 

• Weak saleT can be traced to people tike 
Eihranl J. Manns, 44, a farmer factory pro- 
duction supervisor fa Stratford, GcsnuxtisnL 
Although Mr. Manus recently found work as 
a teacher after two factories dosed and put 


him out of work, he is snti trying to rebuild 
his savings and deckled last month not to buy 
a 5189 outdoor barbecue grQL 
Recent government date showing falling 
retail sales in Apifl and May, a drop m overall 
personal consumption spending u April a 
slight rise in buaness inventories fa April and 
a yearlong fall in household savings rates also 
reflect the erosion in consumer spending 
As a result, some economists are trimming 
slightly their estimates of economic growth 
for the rest of the year. A survey of corporate 
economists this month, before the govern- 
ment released statistics providing some of the 
strongest evidence of slackening spending. 


Die new evidence of 
slowing could reassure. 
Wall Street and the 
Federal Reserve that the 
economy will not 
overheat. 


found that the consensus forecast for eco- 
nomic growth fa the fourth quarter of tins 
year had dropped by a tenth of a percentage 
point, to an animal rate of 18 percent. 

The change was significant not because of 
its size but because of the direction of the 
revision, said Robert J. Eggjert, who conduct- 
ed the survey for Blue Chip Economic Indica- 
tors, a newsletter fa Sedbna, Arizona. The 
fear that sparked inflationary concerns in 
financial markets and at the Federal Reserve 


Board was that economic growth would con- 
tinue at the 5 percent rate of the last half of 
Iasi year. 

Economic growth of 3 percent is still not 
bad, said Alin Blinder, a member of the 
White House Conned of Economic Advisers. 
President Bill Ginion recently nominated 
him to become the next vice chairman of the 
Federal Reserve. 

The new evidence of slowing — if it contin- 
ues — could finally begin to reassure Wall 
Street and the Federal Reserve that the econ- 
omy will not overheat, feeding inflation. That 
new co nfid e nc e could send the stock market 
higher and long-term interest rates lower. 

The economic indicators also suggest that 
there wfll be little pressure for immediate 
further interest-rate increases by the Fed. 
“The growth of activity is downshif ting to a 
mare sustainable pace after the more rapid 
pace that we had at the end of last year,” 
Treasury Secretary Lloyd Bentsen said' in an 
interview. “I don’t see any pressure on the 
Fed to increase those rates.” 

That sustainable pace is supported by oth- 
er sectors of the economy — like business 
spending cat new. factory equipment — that 
are still doing wed. suggesting that any drop 
in growth wul not be dramatic. But slower 
growth may also be bad news for Main Street, 
meaning fewer jobs in the coming months for 
the 8 million unemployed Americans. 

As usual, a few contrary economic indica- 
tors muddy the picture. Strong growth in jobs 
tiiis spring suggests that many families are 
earning more money, and two surveys of 
retail stores this month suggest that sales may 
bounce back from drops fa April and May. 


THE CARD 
THAT SPEAKS YOUR 
LANGUAGE. 


CURRENCY & INTEREST RATES 


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June 17 

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534 
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30-year Tmary bond 733 

MHTW Lmeh 3»4ay FuadyaKt 156 


3-nmdtiCD* 
comm, paper MO Days 
3-mam TnoKffY MM 
MrearTraaoryWl 

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432 

470 

439 

435 

576 

460 

667 

733 

735 

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Bank bate rata 
Catliaaey . 
V-fMaH, Interbank 
3-soam lotartssk 
tatati Interbank 
10-yaarCUt 


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MnonJ; Agents- HqMrTtanr (Para); Bane of- Tokyo (Tokyo).- Sorot Bank af Canada 
_ (Torontoh jMF (SOP), Otner data from Ttaumrs onJAP. 


Dtsmatreoe 
COHmaaov 
l-mtah intarbnrik 
MMrtfc latartwk 
mwntn l aiw utt* 
l»-y*or oavenunes 
Germany 
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441 tfl 

630 630 

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535 SIS 
535 535 

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4 >. 4 .. 

5ft 5ft 

5 « 5». 

6ft 8 . 7 * 


lotervantiaa rata 530 530 

CaB money 5. *. 5ft 

1-nwBfti {fitertenk 5ft Sft 

i-montt toterba* 5ft 5ft 

Faioatb hrtertaek 5ft Sft 

1 6-year OAT 772 737 

Sources: Reuters. Bteombare. ttemi: 
Lynch. Ban* of Tokyo, Commerzbank, 
Greenweil Montagu. CrttS) Lyonneii 

Gold 

Zurfdi 
T nminn 

New Vor* 

us. cUkn eer ounce. London official flx- 
AWJ Zurich and New York anetUno Ondcias- 
"B Prices; New York Come* (Avgust) 
Source: Reuten. 




— ■ - uf- 


[ COUNTRIES 

ACCESS NUMBERS 

New - Bulgaria A 

00-800-10 ;Q 

Iceland -ii 

999-003 

Egypt ±T. 

356-^777 

Antigua O 

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Antigua • 

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Argentina 

001-800-777-1111 

Austria +■ 

022-9034)14 

Bahamas 

1-800-389-21 1 1 

Barbados A 

1-800-877-8000 

j Belgium + 

078-11-0014 

Belize (Hotel) 

556 

Belize |PTT pay phones) o 

■4 

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Bolivia 

0800-3333 

Brazil 

0008016 

British Virgin Islands A 

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Bulgaria A 

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Chile 

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Iceland +12 

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Israel + 

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Italy +• 

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Jamaica nl- 

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89197 

lu«embourg 

oeoo-0115 

Me»JCO 

95-800 877-8000 

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AJH. 

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— tuo 

385.73 

387 Ji 

+ 1JB 

38850 

39270 

+ 6JD 


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St. Lucia S 
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Hi 

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900-994)013 

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INTERNATIONAL HERALD TRIBUNE, SATIIUMY-SUNDAY, JUNE 18-19, 1994 


MARKET DIARY 



Blue Chips Slump 
On Inflation Fears 


Compiled by Our Staff From Dispatches 

NEW YORK — U.S. slocks 
slumped Friday as a weak dollar 
and rising commodity prices point- 
ed to higher inflation and interest 
rales. 

The Dow Jones industrial aver- 
age slid 34.56 points to 3.776.7S. 


U.S. Stocks 


But for the week as a whole, the 
average gained 3 J3 points. 

Retail oil electric utility, soft 
drink and financial slocks posted 
the largest losses. 

Some 373.43 million shares 
changed hands on the New York 
Stock Exchange, the highest since 
April 21 and up sharply from 
254.89 million on Thursday. Fri- 
day’s simultaneous expiration of 
individual stock options, stock-in- 
dex options and index futures — 
known as “triple witching" — 
boosted trading. 

More than 13 slocks fell for ev- 
ery eight that rose on the New York- 
Stock Exchange. 

Oil stocks fell amid concern that 
recent increases in crude oil prices 
will hurt refining and marketing 
profits, while oil-drilling shares 
climbed along with crude prices. 
Speculation about possible in- 
creases in inflation lifted gold 
stocks. Cold, a key inflation ba- 
rometer. rose $6.20 an ounce for 
delivery in August to S393.70. 


Stocks sank along with bonds, 
with yields on the benchmark 30- 
year Treasury bond climbing to 
7.45 percent from 736 percent 
Thursday and this weeks low of 
7.31 percent, recorded on Tuesday. 

There’s "tremendous confusion 
about the direction of the economy, 
and therefore inflation and interest 
rates.” said Philip Roth, chief tech- 
nical analyst at Dean Witter Reyn- 
olds. 

The dollar tumbled after a pri- 
vate economist at the Conference 
Board, a business research group, 
predicted that the U.S. currency 
would weaken during the next two 
years. 

Meanwhile, a University of 
Michigan consumer sentiment in- 
dex rose to 943 in June from 92.S 
in May. stirring concern that rapid 
economic growth will translate into 
rising inflation, hurting the value of 
bonds. 

The Commodity Research Bu- 
reau index of 21 'key commodity 
prices gained 2.1 to 239.38. a 3’'- 
year high. 

Chevron fell 1 to 43* 4. Royal 
Dutch Petroleum dropped 1 to 
107‘%. and Mobil Coro, fell J * to 
84V 

Chemical stocks, most of which 
suffered from higher feedstock 
prices, also declined. DuPont Co. 
fell J j to 60V Union Carbide Corp. 
dropped 'a to 69'?. and Dow 
Chemical eased ■'* to 69K 

t Bloomberg. AP) 


BONDS: Prices Are Pulled Down 


The Dow 


Daily- closings of the 
Dow Jones industrial average 



3500 


D J 
1993 


M A M J 
1994 


NYSE Most Actives 



VoL 

Mah 

Law 

Last 

OH 1. 

Unisys 

XU5I 

9+. 

9 

e 

_ 

WalMori 

$5746 

75 

24'- 

74'v 

X. 

AT&T 

50450 

57 

56' < 

So' 1 

1 8 

Gen Els 

J5965 

M'-i 

47V. 

J7\. 


EMC s 

J4397 

lJJ'J 

13' 4 

!<♦'. 

* 1 

E.c«wi 

40419 

59'. 

56' • 

ST. 


Merck 

28791 

31 1 « 

20': 

30'* 


GrMpir 

38697 

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KP. 

SJ". 

— 'i 

Compaq s 

I815Z 

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32". 

33 

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—1 

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27661 

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20' * 



Open High Low lab Oi*. 


influx 

Trans 

Uin 

Como 


MOr U UI76I 377531 377*64 —34.88 
1646 U 1606.75 1649.09 1651.40 —9.05 
195.41 1B5.SJ T 82.51 J823I —264 
1330 04 1379 36 1JI T J6 1317.74 — 1 118 


Standard & Poor’s Indexes 


Industrials 

Tronso. 

Utilities 

Finance 

5P500 

SP100 


High Low dose Ch’ge 
537.06 531.98 5333)1 +1313 
401.30 38929 37951 4- 9JO 
1HL42 15732 15841 —144 
46.94 46.13 46.13 — 0J3 
44257 45847 45865 — 133 
438.71 42405 434317 +DJD 


NYSE Indexes 


HAh Law LOB dig. 


Com senile 
indusJrials 
Tran so. 
Utility 
Ftncmco 


755 70 153 JB 75138 — 1-71 
21163 311.48 311 48 —108 
253.46 350.50 25004 -1.13 
200.21 707 33 707.23 —1 48 
719JD 71758 71741 —1.53 


NASDAQ Indexes 


High Law Last OKL 


ConwaoiK- 

Inausiriais 

Bcrv-.s 
insorars;.- 
R nance 
Tronsp. 


.1551 779.06 729.08 —559 
745.79 740JJ9 740 09 -5.23 
7*4.70 762.95 7617S -1.67 

431.19 fXLK 92JJ7 - 055 
954J4 94630 04X30 — *38 
699.40 *93.90 695.BO —266 


AMEX Sleek Index 


High low Last Ohs. 
447.54 tP.44 44026 —153 


Dow Jones Bond Averages 


j 30 Bonos 
id uiilifies 
10 Industrial* 


Clou 

9959 

9551 

101.48 


am 
— 0.18 
— 0.17 
—0.18 


NASDAQ Most Actives ' NYSE Diary 


Metals 


PiE*hJtn 
Bid Art 


Close . . 

Bid 

ALUMINUM CWKJh GfWfc) 

Forward M 7 DJO 

COPPER CATHODES f OmdeJ 

Mton K ' rw ^5fl l ^43 8 jio 240100 240XCM 
Forward 7445.00 26463X1 2417310 24TU0 

5353)0 5363)0 

FdSrord 55950 5903X1 5S2i» 55U» 

NICKEL 

Forward So 654000 648000 M8M0 

B«lar»Pfr«rtJcjBa wuo 

Forward 566000 M65JD0 566500 567000 
ZINC (Wcctar HU Gradal 

SST Vtrm W , n m 9753)0 9773» 
Forworn 10D9JM 101 IM 100OJX) 10O2JB 


Stock Indexes 

i Ntah Low CUM aow 

ptse waira 

eSNrHBNW 

£ 8S8 3SS 3® -i 

X *5M 30570 38210 —213 

Est volume: 22 JM. Open W-: MAST. 

j cACdo t wrnn 

T^B^9223» 1WXD0 —M0 

9 80 1S5 =B 

g «W! W:=fB 

35 fXT. ixT. WiIJO -AN 

esLmtanu 28i30L Ooen laL: 
wjm: Main. Associate* * £” *■ 
uSSuinn Ftaandot Futons Endtaoo* 
lanPutratmgaExatutv*- ■ 


Financial 


High Low Clou Clew 

3-MONTH STERLING ILlFFE) 

KSOAOH-ptanf mpef 


Sep 

M4S 

MJ4 

9X37 

+ 0JB 

Dec 

9183 

9173 

9175 

— tun 

Mar 

9114 

9364 

9108 

4-861 

Jun 

9152 

9243 

9145 

-jun 

H9 

9ZJD3 

*169 

9163 

BtW 

Dec 

9158 

9146 

9148 

-nm 

Mar 

9165 

91.15 

VL16 

4M 

Jun 

9105 

9062 

9066 

+ 861 

5ep 

ma 

90-71 

9034 

UlKfL 

Dec 

9045 

9066 

9SL5T 

— on 

Mar 

9041 

9034 

9034 

Unch. 

Jun 

Join 

90.12 

90.13 

+ 064 


Industrials 

iggb Law uzxf 5eHte Oitoe 

BRENT CRUP S OlLjjMP . ' 

US. OOllan vtr UKTtHM 0 i UN; 

Aos 77.42 1X75 T760 TTjJt +MJ 

Tt* , 7 * ja *7 1727 T7J7 + 065 

173 1 6Mt 1730 1731 +WJ 

T73I 1467 173) 1731 +066 

T760 it* 1730 T7.18 +00 

TTJV 9 4 a 1X97 17.10 +035 

IS us t7» tjW 

Umf 1X98 1643 1XSB 1738 +0J3 

iSr l&W 1M2 1455 1 7JJt + MZ 

EsL vewnw: 34300 . OcoaM. UU4I 


Od 

Nov 

low 

Jan 


TltHTl 

GA50IL(IPE3 
Ui donors war 
Jol 15735 

ABB 15935 

Sep 1ML58 

I ocr 1633S 


low Los sent* am 


Est. volume: 42308 . Open Int.: 506 , 155 . 


JWWONTH EURODOLLARS (LIFER) 
II ml 1 1 km - pn oiiM pet 


Sen 

9 X 96 

9464 

9461 

+ 0 JO 

D«C 

9 X 25 

9421 

9 X 19 

+ 063 

Mar 

9 X 00 

9 X 00 

9198 

+ 005 

Jam 

9362 

9170 

9368 

+ 006 

S 4 P 

N.T. 

N.T. 

9343 

+ 033 


16435 
DM 1673 U 

Jon 147 JXI 

FOB U&B0 

EsL veiurae: 


meMctaa-WxalWtOBi 

15735 15735 — OlSO 
156.75 15935 15935 UW 9 L 
15 B 35 16040 J 6 SUB - 03 S 
16 U 9 W 335 1612 S —035 
16335 16435 16525 (Inch. 
U 535 1673 U 167 JO —025 
16550 1673 X 1 1673)0 —050 
MS DO 16500 M &35 - 030 
104 * 4 . OoenlnL 9 L 465 


(Dividends 


Esi. volume: 437 Open kit: 5573 . 


Continued from Page 9 

omist at S.G. Warburg Securities in 
London, said his firm had “heard 
from one major asset management 
company" that “funds are being 
wound up and put into venture 
capital projects and real assets." 
Among hard assets showing 


Foreign Exchange 


gains on Friday, gold rose S6.20 an 
ounce, to S393.70 on the Commod- 
ity Exchange, while crude oil 
surged 80 cents a barreL to S20.7 1 , 
on the New York Mercantile Ex- 
change. 

Oil has risen from S 14.08 a bane] 
in March. It got a boost this week 
when the Organization of Petro- 
leum Exporting Countries decided 
to maintain its output at the cur- 
rent level of about 24.8 million bar- 
rels a day, which is slightly above 
the cartel’s official ceiling of 24.32 1 
million barrels. 

In other commodities activity, 
soybean and com prices at the Chi- 
cago Board of Trade soared amid 
forecasts for extremely hot and dry 
Midwest weather. 

Wiih inflation fears already un- 
dermining U.S. bonds and there- 
fore putting pressure on the dollar, 
Gail Fosler, a Conference Board 


economist said the currency could 
fail below 1.50 Deutsche marks by 
the end of J995. It rumbled to 
1.6095 DM in New York on Friday 
from 1,6322 DM on Thursday. The 
Conference Board is a business- 
funded research organization. 

The dollar also was quoted at 
101690 ven. down from 103.335 on 
Thursday. It also fell to 13552 Swiss 
francs from 1.3708 and to 53005 
French francs from 5365S. The 
pound rose to 5 1 .5345 from S 1 .5 1 98. 

Ms. Fosler. writing m Standard & 
Poor's Corp.’s CreditWeek publica- 
tion due for release Monday, said 
“exchange rate trends suggest the 
possibility, but by no means the 
inevitability of some near-term dol- 
lar appreciation against the yen.” 
But she said that dollar/ mark mod- 
els yielded a roughly 10 percent de- 
cline in the dollar over the next 18 
months. 

Ms. Fosler said that to reverse the 
expected trend of a weaker dollar, 
"the U-S. would have to adopt a 
high real interest-rate policy that 
would set as a clear priority reducing 
inflation at the expense of growth." 
Bul she said, neither the Federal 
Reserve Board “nor the political cli- 
mate now support such a shift” 



VaL High 

Lav* 

Last 

Chg. | 

ID 0 Cm ; 

oii»S 

t' 1 

8 

— 6 . i 

LDDS i 

48116 15>4 

u 

15 ’* 

— 1 ; , 


347 SS IS'* 

I 5 A 6 

15 : - 

— ' ■ | 


317 X 3 5 >. 

3 '* 

3 

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JCum 

M 794 X* 

43 '* 

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Mrjli % 

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52 ". 


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28178 IB* 

17 

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2713 X 40 '-. 

55 ". 

60 

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26695 74 ' : 

24 

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— 1 . 


75819 IS': 

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15 . 

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2 & 69 J 13 '* 

17 ’* 

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25090 10 - 

s' . 



CVHICnfr 

739 c, 1 26 '- 

25 ’. 


— - 1 — -| 

MCI s 

207*3 74 ' « 




j AMEX Most Actives 


Vol Kgh 

Law 

Lull 

Chg. 


IS 79 SJ 15 '* 


5 

— 8 h. 


28605 23 :. 

28 - , 

78 ’. 

. • j 


11163 1 )'* 

10 ’s 

II' , 

■ -M 

E<bLA 

59 X 7 I'll 

1 '. 

i, 



STS) S'! 

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4 ' * 

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4944 4 'y 

5 * ! 

6 ' > 


^mdhl 

4043 6 hi 

A B 

4 1 j 

1 „ 

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3987 46 r *„ 

4 .x:., 

45 : = 

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Wthlrd 

3759 12 

11 . 

12 

■ ' 4 

Mi Tim 

3683 24 -v 

24 >* 

24 *. 


Market Soles 


Acr-ano -3 

C->airv«; 

Uncnaneod 
Total iSiucri 
flew Higns 


One Pirn, 

763 1164 

1429 9M 
636 77) 

7023 2846 

47 44 


43 


4] 


AMEX Diary 


MONTH EUROMARKS 
OM1 million - pti of 108 pet 
Sep 95JJ7 9530 

Dec 94*5 947V 

MOT 9460 94JD 

Jim 9431 9413 

Scp 9330 9180 

Dec 9146 9X55 

Mir 9147 9X76 

Jim 9127 9117 

Sen 9107 9196 

Dec 925* 9274 

Mar 9X71 9X59 

Jim VX5J 9X42 

Est. volume: a 1.216. Open 


(UFFEJ 


9SL03 —0371 

9481 Unch. 
94S7 — am 

*414 Unch. 
9254 Ur>Ch. 
9158 +93)1 

9X39 —am 

9118 —CLOT 
9X96 — 0JH 

9274 — OJO 

9X59 —055 

9Z43 —005 

Int.: 87X743. 


Company 

Per Amt 

Pay 

rue 

IRREGULAR 



First SI FtaSvs 

_ JB 

T-l 

MS 

GreatNar ironOrv 

. 60 

6 -X 

709 

Mexico Fund Inc 

. JSi 7 

6-30 

7-29 

WonKamM CAMMt 

. 66 

600 

7-15 


STOCK SPLIT 


Coventry Caro 2 tar 1 spur 
Mia am M*e Svi a (or l sont 


INCREASED 


1 Metro Bnatn 
Texas lustrum 


_H 6-27 
2S 6-29 


7-6 

7-18 



Today 

Prev. 


3:30 

cum. 

NYSE 

379 J 4 

309 J 7 « 

Arne* 

29 JO 

21550 

Nasdaq 

224 J 8 

25535$ 


Declined 
Unchanged 
Told lUin', 

New Highs 

New Low* 


257 WJ 

336 305 

Z39 725 

837 E33 

19 IS 

19 IB 


NASDAQ Diary 


•advanced 

DecLncd 
Untftanaed 
Toiai issues 
New 

New Low-, 


One Prcv. 

13*3 1439 

1*37 1601 

WS0 2003 
5050 5043 

*6 66 

99 IDT 


Spot Commodities 


Commodity 
Aluminum, lb 
Collet), Braz~ib 
Copper eleciraivilc. lb 
Iren FOB. Ion 
Lead, lb 
SiNer. ira* oz 
Steel is croo ). ton 
Tin. lb 
Zinc lb 


Today 

0A54 

US 

1.15 

21 X 00 

0X6 

iflO 

134.33 

3.7639 

0.4736 


Prev. 
0643 
1 .18 
1.15 
7133)0 
0-36 
5465 
13433 
17528 
0.4775 


3-MONTH PIBOR (MATIP] 

FF5 ml I Bon -ptsoMM pet 

~ KS 

— <L06 
— 106 
—on* 

— 0JJ4 

—046 

— 0X5 

— CDS 

Est. volume: 57585. Open Inu 180647. 


American FedBA Q AS 7-21 

Comcten Props Tr Q W M 600 7 -M 


84 


SOP 

9 X 47 

9 X 39 

9 X 39 

Dec 

9424 

9 X 10 

9 X 11 

MOT 

9163 

93 L 7 B 

9178 

Jun 

9158 

93*44 

*144 

Sen 

93 J 0 

9115 

911 * 

Dec 

TMIJ 

9264 

9164 

Mar 

9289 

9273 

9273 

Jun 

9188 

9255 

9259 


LONO GILT (UFFEJ 

QOhWM ■ Pt» & SMS Of 100 PO 

Jon M tQU 10^0 

zz M SI iw 

Est. volume: 65557 . Ooen bit.: 131 A 2 & 


GERMAN GOVERNMENT BUND HJFFEJ 

DM 25O0N - Ptl ollOO PO 

Sep 9173 9078 9 L 11 — 

eSc 9 Q 53 9050 9046 —US 

Est. volume: 137661 Ooen ML: 9 156 . 191 . 


16 -YEAR FRENCH GOV. BONDS (MAT 1 F 1 

FFsauno-phofiMPcf 

Sep 11470 11370 11 X 78 — 074 

Dec 11 X 60 11 X 86 11 X 83 —074 

Mar 11 XSS 1 IXS 0 mm -rQM 

Jan N.T. N.T. M.T. Undv 

Est. volume: 71 X 469 . Open InL: I 2 SJ 4 A 


Cotiea & Steer RIIV 
i Equitable R 5 Shod 
Fhs) Fed Savs Co 
i FronkfloMA IrttTF 
FrankUnMD TF 
, FmnkltaMl MtsTF 
i Franfclln M W InsTF 

• FroakURMOTF 
FronkHnNC TF 

< FrankHoNj TF 
.' FronkllnNY InsTF 

• FreaknnNY Inlerm 
; FrankllnOH InsTF 

FranknuoRTF 

• FronUlnPA 
HeWgMeym 
Justin Indus 
Kmtane Infl Inc 
Lennar Cam 
Natl Servha lad 

. Nucor Carp 
Omen Mutt-Govt 
pioneer Ftn Svs 
Plenum Pet 
; PLM Equip GrFdl 
PLM EculP GrFdll 
; PLM Equip GrFdl li 
Pru Ealnca A 
PruHl YWP 1 » 

Sun Distrttwl A 
: Sun DhtfrOMl B 


.17 7-1 

JD 7 6-30 


Q 
a 

O JB MO 
M JB 5 6-71 
M 3151 4-22 
M 3357 6 X 1 
M * 3)98 4-71 
M 3155 6-72 
M JH* 6-22 
M 3)55 6-72 
M JW9 6® 
M 3 H 4 6-71 
M JM* 6-21 
M 3 H 1 6-22 
M Ml HI 
o m 7 -M 
Q M VO 
o .m S3 
O JOS 1-5 
Q 33 6-27 

o ms mo 

M J 052 6 - 3 * 
O XPS 7-7 
OXI-3 
Q sn 6-30 
Q AO 6-30 
Q M 6%' 
Q 3)7 6-23 
M 3)725 M 0 
MJJ 9 U 6 7-1 
M 3 a 7-1 


7- 8 
8-15 
TO 
6-21 
6-22 
6-ZI 
6-7J 
6-22 
6-22 
6-22 
6-22 
vn 

6- 71 
6-22 
6-21 

8 - 20 
7-6 

8-17 

8-15 

7-7 

811 

7-8 

7- 15 

7- 12 

8- 1S 
8-15 
8-15 
M0 
MS 
7-29 
TO 


i -(Deludes jh from ecpttot gams 


a-atamal; B-payoMe la Copadtaa funds; 
maatbly; o-auarferfy; t-semhnmaf 



\ 


f 


active trading . 

Chicago-based Qnako- decided to cormnail & & . 

»bc Swiss Food giaotw 

comment- motuh, Gerber axepw^a S17 ^too WW«ao^, : . ! ,^( 
the Swiss '^ w * rmcai& 1 




it. 


ATLANTA (AP) — ; 
resume doing busiioss in Sooth Amra, nrany_BgnL_ 

because of the coumxy ? s < apaitW - : 

Executives told Presideni Nelson 
conmanv would estabfish an pfito 

Beveraw Services, a South African ; 

technical services to CbcaiQ&^totde^-.v-^. 

The Atlanta-based mwhmbv also intends to ^umajne- act«n- ^,. j 

poliaes to promote i 

executive' — M 


M: 


► said. ' t j 

. _ je Finns Required j 

WASHINGTON (Bhxanbag) — The TSmr mlcd ; 

.-■j .t— _n t -i - ~* wv n<* flOTnpff me* 1 

ithemw^T 


Intel Seen 

SANTA (XARA, GtBforma 




S , is expected to cut pric»5’il* Wp*^^ 

as 25 percent in >«•: 

. consumers, that m e a ns lower pm» on_ajosoi^eo®|^|erj^^£^^;.; 
in time for Christmas. • • -/ "• '■ i'-‘ ■■ ■ r <- : ~ ■■ -d'.Cy .:. : 

Intd, whose nricroprocesst^s are the braihx ^ 

the worid’s persond cwBpaters, is exposed tosheb the. suit ^ 

Mak^iJ IfimuTHy IVnrnim tnfDVI a mm fr nnt jl Wr *Htirifcriots: v£. 


Jo 

! ,U 
\po 


me win iu » u w^wvu w,< 

high-cod 100MHz PattountoS750 achgi ftcaii;. 
of 1,000, according to a report to be pnbludied 
Inc., a leading market research firm. . ;• 


OTTAWA (AFF^ — Omsumea- prices j ^ " - - 

year decline of O^pdcenlinM^, 

1955, the govanment reported Friday, t 
T he decline was attributed largely lo ti _ __ 

taxes charged by die federal gpvenuBon and severifl " p i o vijiaa i gbwa^ . . v 
meats as part of their strategy to stop cigarette snxig^ii^ frora the, 
United States. - • '• r-.-l'y. . vV 

A reduction in iheproriiiaaIsak»iaxiftQQebec^to 6Ji>«5rbentfro*. i V” 
8 percent — was also a major factor m theOveraBde^ne m ate d s nsa mer' .?■> 
price index, die statistics office said, .J : ; 


.*• 


Bertelsmann to Buy N. Y. Times Women’s Ma ga zine s 


By Geraldine Fabrikant 

New York Times Service 

NEW YORK — The U.S. publishing arm of 
Bertelsmann AG, the German media giant, has 


agreed to acquire a group of magazines from 
Co. 


I Reuters, Bloomberg. AFX} 


The New York Times Co. that are directed 
primarily at the women's market 
The best-known or the publications are Fam- 
ily Circle and McCall’s, but the unit Lhat is 
being sold, the Women's Magazines Group, 
also includes Fitness, American HomeStyle. 
Child, Mary Emraerling's Country. Custom 
Builder and others. 


The price of the deal was not disclosed, but 
several industry experts pul the figure at S250 
million to 5400 million. 

Although the magazines are profitable, they, 
like many other women's publications, have 
faced increasing competition for readers and 
dollars. 

The Bertelsmann unit, Gruner & Jahr USA 
Publishing, already owns YM, a magazine 
aimed at teenage girls, which competes directly 
with Seventeen, published by K-I1I Magazines. 

Through aggressive promotion and a fine- 
tuning of YM's editorial content to appeal to 


contemporary teens. Gruner & Jahr has been 
able to expand the magazine's circulation to 1 .8 
milli on from 900,000 in the last 18 months. 


The acquisition of the New York Times pub- 
lications will make Gruner & Jahr a strong 
force in the women's magazine field. The other 
leaders are Good Housekeeping and Red book, 
both owned by Hearst Cotp4 Tie Ladies' 
Home Journal and Better Homes and Gardens, 
both owned by Meredith Corp-, and Woman’s 
Day, owned bv the French media conmanv 
Hachene FilbacchL 


WASHINGTON (Bloomberg) —The Senate approved rdirf forThir ; f* 
ILS. express-package industry that could end op savmg customers " 
billions of doUars. ’ . " ' .'j \£\ r 

A provision in a Federal Aviation Administration fnMnig bill passed " - 
Thursday night would prohibit states from setting mo^^regnlaticns chi - 
the express industry, beaded by giants United PmcdScrviceand EoderaJ, - - 
&qjressCoip. Almost 40 states now have tlteir own li^ilaticHisgqvciidi^" 
the rales, routes and services for intrastate transport of packages. : , 

It is unclear how soon the industry might receive relief, but suppqiriei& .^:V- 
hope it wiB dear Congress this year. ' 


-'•i- 


For the Record 




Delta Air lines lac. said Friday the Departznent of Justice had cleared 
its plan to purchase qiace aboard YirgjnAlIantic Airways fights between 

the United States and . the Britain. (Reuters ) 

Anheuser-Bosch Cos^ sedting to ifl)qreaseits pnesenc^inJChina, said it 
agned a letter of mteut to acquire 80-perceat of Wuhaat China-based 
aongde Brewery, based in Wuhan. ' - V* (Bloomberg) 

Texas Instruments Inc. boosted its quarterly cub .ctividaid by 39 
percent, to 25 cents a share, the tint increase since 1^7. “Management 
decided it was time," a company spokesman said. (Blownbern) 


i — 

: >i" 


i a:--’ 

1 ■’ ,*j- : ■ 


• V!: 

i M"- 




rc,. 


,*>-4 

~~c 


*--• 


WORLD STOCK MARKETS 


Agcncr Franc* Prana Ju* 17 


Amsterdam 


abn Amro Hid 

58.90 

59 JO 

ACF Holdlnu 

4440 

44 

Aegon 

95* 

9X10 

Ahold 

46.70 

-LSI) 

Ak20 Nobel 

705 206.70 

AMEV 

7060 

71 JO 


3860 

39.10 

CSM 

6X60 

65* 

D5M 

12X20 12X30 

Elsevier 

159* 16260 


15* 

1520 

Gtsl-Brocodes 

46J0 

47.10 

HBG 

318 

318 

Helneken 

210 20950 


71* 

7120 

Hunter Dceslaa 

74 

7320 

IHCCakmd 

36J50 

3620 

Inter Mueller 

79* 

B0 

mrt Nederland 

7X70 

7 7 JO 

KUW 

49 JO 

50.10 

KNPBT 

45J0 

4S.9U 

KPN 

49 JO 

49.70 

NedUovd 

67 

67.IU 

Oce Grlnlen 

7260 

73 


46.10 

«/* 

Philips 

51.10 

51* 

Polygram 

7X70 

7520 

Robeco 

118.10 118* 

Radamco 

58* 

SB* 

Ratlnco 

120 12050 

Rorenln 

8750 

88* 


197 JO 19BJ0 

Storti 

4X20 

4620 


18950 19170 

Van Ommerwn 

50.90 

50* 


Waiivn/Kluwer 10740 10941 


ism 1 


Brussels 


AG Fin 

2615 

2705 


7690 

7690 


4550 

4580 


2250 

2190 


4165 

4130 


24550 25000 

CBR 

12450 12300 

CMB 

2380 


CNP 

2125 

2150 

Cacfcerlll 

184 

183 


57* 

57* 


7620 

7570 


1374 

1356 

Elactraisel 

5740 

57* 




GIB 

1500 

1520 

GBL 

4240 



9150 



4600 

4700 


3100 



6640 

6650 


1550 

1570 



PtWfflrfln 

3010 

3050 

Redtcet 

500 

502 


5150 



8340 

82* 

SocGen BdgMrue 

2265 

22* 




14725 1502} 


10175 10I0D 


9930 

9880 


24000 24100 

Union MinJere 

2675 

2650 

wooomUIS 

NA 

7010 

Current Stodc index : 755X21 
Previous : 7561 JO 


AEG 


Altana 
A ska 
BASF 
Barer 


Frankfurt 

1741017450 

Allianz HoM 2380 2396 

610 620 
1004 10BS 
30X50 299 

3577035420 
Bar. Hypo bank 415 477 

Bov VftnHmOk 45X50 4J3 

BBC 68S 660 

BHF Bank 
BMW 

Cofnmerztxjr* 

Continental 

Daimler Ben* 

Deouua 
Di Babcock 
Oeutsetie Bonk 
Douaias 
Orndner Bank 

FeWnwahi* 

F Kruoo Hoescfl 

Harneiufr 


BBC — 

S450 398 
777 S) 776 
323 325 
240 239 
727 727 

466 «S 
21931900 
73273X80 
535 5« 

376 380 
300 305 
2M 2 M 
332 328 
595 400 
IU0 1048 
334 336 

876 878 
218 220 
370 376 
140 140 

594 JO 594 
51051 &5D 
13500 134 

Kioeckner Warka 142 143 

Unde 878 8*0 

LuffiMmso 

MAN 

Mmnesmann 
M»talleeseii 
Muencn Rueck 
Porvch* 

Preussaa 
PWA 
RWE 

RheOimetaii 
Scherlna 


Henkel 
Haehilef 
Haechst 
Hotzmcnn 
Harlen 
IWKA 
v.cjM Salt 
r.anfaai 
Katifhof 
KHD 


176 177 
398 396 
40740X50 
211 217 

2815 2810 
758 758 

43443040 
23050 226 

42442X20 
298 297 
1002 1027 


5EL 

Siemens 

Thysscn 

VarJa 

veba 

VEW 

Vkjg 

Volkswagen 
Welia 
DAXI 


370 366 

661.70641.10 
2B1SL50 
307 306 

4955049850 
378 378 

456J046150 
457 450 
925 916 


Helsinki 


Amer-Yhfyrna 

Erao-Gutzeii 

Huhtamahl 

K.O.P. 

Kvmmenc 

Metro 

Nokia 

Pohlota 

Repoia 

Stockmann 


126 124 

40 39X0 

I 83 178 

11.10 II 
112 108 
165 169 

m m 
70 67 

88 B5J0 
215 215 




Hong Kong 


Bk East Asia 36 35 

Cathay Pacific 11.10 11.10 
Cheung Kona 3425 3650 
CNna Light Pwr 4259 4058 
Dairy Farm Infl 10.20 lo:«f 
Hang Lung Dev 1X90 13 

Hang Seng Bank 55 5X50 
Henderson Land 3850 3X50 
HK Air Ena. 4X58 42 

HK China Gas 15.10 lSJO 
HK Electric 2470 2410 
HK Land 20.40 20J0 

HK Really Trust 2X1B 22 
HSBC Holdings 8550 as 
HK Shang Hits 1150 12 

HK Telecomm 1510 1510 
HK Ferrv 13A0 13JB 

Hutch Whampoa 3850 3175 
Hyson Dev 21JS9 3X70 
Jardlne Moth. 5950 5d_W 
Jordlne Sir Hkl 2950 7970 
Kowtoon Motor 1480 14.90 
Mandarin Ortenf 11 JO 1X90 
Miramar Hotel 21.40 2150 
New World Dev ZL60 7Xf» 
SHK Proas 47.75 4775 

stelu* 3J3 X38 

Swire Pac A 57 59 

Toi CMuna Prp* llio 11.90 
TVE 350 350 

Wharf HeU 28JO 29 JO 
Wing On Co inti 1140 1170 
Wknsar Inti. 1150 1150 




Johannesburg 


AECI 

25 2&50 

Aliech 

121 

123 

Anglo Amer 

237 

242 

Barlows 




9 

9 

BuHels 

48 

48 


1I5JD11&J0 

Drlefontoln 

6X50 6L50 

Gcncor 

11* 

11.70 

GFSA 

119 

no 

Harmony 

24* 25* 


28 77* 

KlOO? 

S5J0 55* 

nmSxhiic Gro 

34 

33 


43* 43* 

Rusc+at 

101 

99 


VJ 

Vi 

51 Helens 

NA 

44 


2SJ5 2135 

Western Dee® 

198 

187 



London 


Abbav Nan 

X23 

X32 

Allied Lvqns 

5* 

X71 

Aria Wiggins 

2-67 

172 

Argyll Groan 

151 

152 

Ass Brtt Foods 

5.14 

5.15 

BAA 

VJ6 

9J9 

BAc 

AM 

445 

Bonk Scotland 

1* 

1 JD 

Barclays 

162 

5J6 

Bau 

5.17 

115 

BAT 

X07 

X10 

DET - 

1.17 

1.16 

Blue Circle 

m 

176 

BOC Group 

7J1 

733 

Boats 

127 

523 

Banater 

*M 

433 

BP 

4.11 

XOB 

Bril Airways 

3.98 

197 

Brit Gas 

U>7 


Brtf 5 teal 

1J3 

136 

Bril Telecom 

177 

173i 

BTR 

164 

163 

Cable Wire 

O* 

4J2 

Cadbury Scb 

4J» 

444 

Caradon 

298 

3.13 

Coats VI vwm 

130 

233 

Comm union 

5J5 

117 

Courtaulds 

SJD 

5.05 

ECC Group 

3J4 

133 

Enterprise Oil 

X1S 

4 

Eurotunnel 

285 

105 



CtaMPrev. 

F Isons 

i* 

164 


2J9 

232 

GEC 

297 

33)2 


55* 

5* 

Glaxo 

sn 

5.79 

Grand Met 

X30 

X22 

GRE 

Ul 

134 

Guinness 

43/ 

464 

GU5 

568 

535 


2-52 

252 

Hlllsdawn 

161 

i* 

HSBC HMgs 

777 

728 

ICI 

764 

7J6 


465 

X59 

Kingfisher 

5L07 

5JD 

Lodbroke 

161 

162 

Land Sec 

X16 

6J6 

Laparte 

7.45 

752 


1.49 

1* 


X24 

X38 

Lloyds Bank 

563 

557 

Marks Sp 

Aid 

XH 

MEPC 

X17 

433 

Nan Power 

X27 

430 

Nat West 

A70 

X76 

NthWSt Water 

XB/ 

XK5 


XI9 

623 

PBO 

A28 

629 

Pllklngton 

1JS 

137 


466 

X92 


2.98 

3 

RankOrg 

197 

199 

Reckltl Cal 

5jn 

564 

Reef land 

X// 

AM 

Read Inti 

7JS 

X15 


466 

4-70 

RMC Group 

8-20 

X14 


IJ» 

1J9 

Rottunn (until 

195 

4 

Roval Scot 

X29 

X23 

RTZ 

8* 

855 

Smnsbury 

XI/ 

4 01 

Scot Newcos 

5.17 

5.10 


367 

162 

Stairs 

1.17 

1.1B 




Shell 

7.06 

7.13 

Siebe 

5* 

565 

Smith Neohew 

1* 

161 

SmlthKIine B 

XI? 

X18 

Smith tWH> 

AM 

X87 




Tale A Lyle 

4 

X03 


229 

223 


1069 

1062 

Tomkins 

2J2 

738 


7.25 

734 

Untlnver 

9.98 

1009 

U Id Biscuits 

121 

125 

VodafOne 

547 

110 


11.13 

41 

Wellcome 

X03 

XOB 

wniibread 

533 

5* 

williams Hdgs 

3* 

3J2 

Willis Corroon 

167 

154 

F.T, |Q laMtejr ; B 

190 



: 302260 

Previous : nDl 



1 Madrid 


BBV 

3045 

38* 


M9S 

27» 

Banco Saptandei 

4030 

4050 


I0U 

1055 

CEPSA 

29* 

3100 


20* 

2090 

Endesa 

6090 

6000 


237 

255 

Iberdrola 

936 

965 


3950 

4000 


36* 

3600 

Telefonica 

1005 

1800 

«5JB5srr*S5S“ i31 “' 

Milan 


BmcoComm 

EZ3 

C71 


■ J 

■cil 


i7. 


1088 

e l a 

CIR 

2420 

2440 

Grad llol 

7110 

2090 

Enicnem 

2900 

2900 


1889 

*890 

Fortin Rise 

1200 

1195 

Flat SPA . 

6255 

6220 


1970 

1920 

Generali 

43000 41iS0 


i:;.. 11 



ifesteas 


Hul 



Mediobanca 

iMf-ltik'H 

ftteflfedUon 

1378 

tiiiM 

Olivetti 

2380 

24* 

Pirelli 


4895 

RAS 

26000 24800 


10170 100 70 

Solpsm 

4005 

39* 

San Paolo Torinc 

9910 100* 

SIP 

4150 

4130 

5ME 



Snla 


F— II 

S Banda 


SM 


1.- 1 

Tara Assl Rl so 

27400 27400 

MIB Mb : 1129 



Previous : 1132 



Montreal 


Alcan Aluminum 



Bank. Montreal 



Bell Canada 



Bombardier B 

20'A 


Camblor 

1918 

iP) 


CtaMPrev. 


Cascades 
Dominion Text A 
Donohue A 
MacMillan Bl 
nail Bk Canada 
Power Com. 
Quebec Tel 
Quetoecor A 
QuebecorB 
Telcalobe 
Uni vo 
Vtdeatran 


7*8 m 
616 6*k 

im iim 
16*b 171 m 
8H BH 
20 U. 204 
20>4 20V. 

17 TFK 

17 17=6 
1816 18U. 
6W V* 
I2*k 1295 


Vtstssttitst? 


Paris 


Accor 672 

Air Liquid* 754 

Alcatel Alstham 591 

Axa 338 

Bancalre (ael 
BIC 
BNP 

Bouygues 
B3N-GD 
Correfour 
C.CF. 

Cerus 
Charaeurs 
Cl merits Franc 
Club Med 
Elf-Aquttalno 
EH-Sanafl 
Euro Disney 
Gan . Earn 
Havas 

i metal . _ 

Lafarge Coppee 3985D3985Q 
Legrand 6810 6820 

Lwm. Eoux NA N.A. 

Oreal tL‘) 1110 1108 

L.VJMJ-L 840 S3S 

Mafro-Hachette las 105.90 

Michel In B 22850 224 

Moulinex 137 13650 

Paribas 369 36950 

Pechlnev Infl 151 JO 14758 

Pernod- Rl card 376 37X40 

Peugeot 758 m 

Pmaull Print 872 884 

Rod la tldimque 4795046750 
127 130 


515 529 

1230 1229 
246 243 

598 577 

817 821 

1778 1817 
212 71950 
10650 106 

1365 1360 
30130950 
395 403 

39X9039250 
819 829 

35 3S.I5 
2247 2249 
41750 416l10 
545 551 


Rb-Peulenc A 
Rail. Si. Louis 
Saint Gotxdn 

Sf H 

5te Generate 


Thranson-CSF 


Total 

UJLF. 

Valeo 

.C 40 


Sao Paulo 


Banco da Brasil 41 40 

Banesno 1950 1850 

Brodesoo 1X10 M5B 

Brahma 555 £55 

Cemlg 165 165 

Elctrobrcn 48S 482 

llpuhonco 470L08455J» 

Ugm 545 500 

Pa ro n cp onema 40 ^ 

Petrebra s 245 229 

Sauca Cna 12JD01X4BO 

Twebros 92 8430 

TateM 835 785 

Usiminas 258 257 


Vote Rio Dace 24750228.99 

vwlg NA 234 


Singapore 

Cerebas 

a tv Dev. 

DBS 

Fraser Nea re 
Genfins 
Golden Hone PI 
Haw Par 
Hume Industries 


Kb. 

Lum Chang 
Malayan Bankg 
OCHC foreign 
OUB 
OUE 

Sambawana 


S^Tnarlla 
S me Darby 
SIA foreign 
S 'sera Land 
SJwre Press 

Sinn Steamship 

|>we Telecomm X40 148 

S Iroirs Trading X7A 3J0 

UQB lardgn 12 1XS 

UOL 250 X19 

^ajjsin^mLiaaAa 


8 8.N 
750 7A5 
11.10 11.20 
1670 I&90 
1850 1&J0 
259 258 
110 110 
S70 570 
555 555 
11.10 11 JO 
160 354 
1.49 149 

850 870 
1350 1130 
AIS 415 
860 855 
NA NA 
555 440 
4JB 406 
1X20 12 

750 750 
15.90 1X90 

350 358 


Stockholm 


aqa 67 346 

Aua A 590 597 

Attra A 158 168 

Alias Casco 9050 99 

Electrolux fl 367 376 

Ericsson 400 39* 



Close Prev. 

Esselte-A 

109 

111 

Handelsbanken 

98 

95 

Investor B 

1/4 

178 

Norsk Hvdro 

222232* 

Procardia AF 

121 


Sandvlk B 

111 

113 

SCA-A 

107 

108 

S-E Banhen 

4X80 47* 

SkondloF 

104 

109 

Skanska 

161 

165 

SKF 

143 

139 

5 taro 

378 

308 

TralleboroBF 

108 


Volvo 

704 

717 


181831 

1 Sydney 


Amcor 

9J0 

9.18 

ANZ 

AM 

X12 

BHP 

1832 

18* 

Bora) 

369 

366 


nfte 

DBS 


4J7 


Comal ca 

5JS 

530 

CRA 

18* 

1862 

CSR 

<un 

431 

Fosters Brew 

u* 

MB 

Goodman Field 

136 

136 

ICI Australia 

I1J02 

n 

Magellan 

1.95 

1.90 

MIM 

3JM 


Nat Aust Bank 

10.94 

BO.S0 


883 


Nine Network 

465 


N Broken Hill 

3.44 

330 

Pac Dunlop 

436 

X18 

Pioneer Inn 

Z92 

290 

Nmndv PcseWan 

7.24 

237 


134 

135 

Santas 

2.91 


TNT 

264 


Western MMrea 

835 


Wostpac Bonk Ino 

465 

462 

Woods 1 do 

AM 

469 

^MSTSSar :aos,JB 

1 Tokyo 


Akol Electr 

530 

519 

AsaM Chemical 
Asahl Glass 
Banket Tokyo 

780 

1290 

1610 

788 

1290 

1620 

Brldaestane 

Canon 

16* 

1800 

1650 

1800 

Casta 



Dal Nippon Prim 

1930 

1950 

Dahwa House 

1540 

15* 

Dohrra Securilles 

ie* 

1820 

Fonuc 



Fu]l Bank 

2330 


Full Photo 

2330 

11 

Fulltsu 

II* 

lirll 

Hitachi 

1090 


Hitachi Cable 

910 


Honda 

1930 


Ho Yokaito 

5110 


■ tachu 

740 


Japan Airlines 

745 

737 

Kallma 

994 


Kond fewer 



Kawasaki Steel 

406 

406 

Kirin Brewery 

1190 


Komatsu 

vm 

973 

Kubota 

738 

740 

Kyocera 

7070 

6920 

Mahv Elec inds 

1900 


Matsu Elec wb 

1170 

1170 

MHsutelshlBk 

2710 


MitsiuBisni Kasei 

537 


Mitsubishi Elec 

7D1 

693 

Mitsubishi Hev 

79B 


MHnibbtil Caro 

1220 

1190 

Mitsui and Co 


■ II 

Mlliukosli' 

1080 

1060 

Mitsumi 

1920 

19* 

NEC 

13« 

1280 

NGK insulators 

1110 

1070 

Nlkka Securities 

1390 

1350 

Nioaan Kogaku 

1090 

1110 

Nippon on 

767 

772 

Nippon Steel 

367 

3* 


662 

6* 

Nissan 

B79 

8fl 


2*90 

24* 

NTT 8450a 64*0 

Olympus Optical 

1710 

1200 

Ptomer 

3040 

3010 

Rkoti 

995 

987 

Sanyo Elec 

598 

5» 

Shore 

HbO 

78* 

5hbnazu 

767 

7* 

Shlnetsu Ov«ti 

2300 

2290 


63* 

6310 

Sumitomo Bk 

21* 

21* 

Sum|toma Chem 

548 

5J6 

Suml Marine 

986 

984 

Sumitomo Metal 

399 

296 

TolselCorp 

696 

6196 

Telstw Marine 

875 

I II 

TakedaChem 

1200 

1190 

TDK 

4950 

<930 

Tel|ln 

5* 


Tokyo Mari bb 

13* 


Tokyo Elec Pw 

SIM 


Topm Pruning 

1520 

1480 

Toray Ino. 

770 


Toshiba 

891 


Tovotg 

7710 

2178 

Tama tern sec 

o: jf 10a 

1000 

992 

Sasiss 1 




Oast Prev, 



Toronto 


Ablflbl Price 

17 

17 

Aonlco Eagle 

1646 

!*<■% 

Air Canada 

64% 

44% 

Alberta Energy 

211m 

2H* 

Am Barrtck Res 

341% 

33V. 

BCE 

464% 

47 

Bk Nava Scotia 

24 Vj 

25 

BC Gas 

UU. 

14’4 

BC Telecom 

234% 

23 

Bromalea 

023 

023 

Brunswick 

946 

■ I 

CAE 

69% 

Wvm 

Camdev 

4.90 

fVi 

CIBC 

29 


Canadian Pacific 

201% 

204% 

Con Tire A 

m% 

114% 

Cantor 

17 

179% 

Cara 

185 


CCLlndB 

V 

9 

Ctoeafcx 

5M 


Camlnco 

2296 

22 K 

Camvest Expl 

y l, ■ 

744% 

CSAMot A 

1 tPl 

114% 



2D4% 

Dylex A 

■ i V .J 

032 

Echo Bay Minas 

ins"! 

149) 

Eauitv Sliver A 

■ i V* ' ■ 

032 

FCA Inti 


330 

Fed !nd A 

64% 

69% 

Fletcher Call A 

174% 

179% 

FPI 

Mfc 

5V» 

Centra 


067 

GuHCda Res 


44% 

Hceslntl 


139% 

Hemlo GId Mines 


m 

Hollinoer 


mm 

Horsham 


lu,* 

Hudson's Bay 


Sure 

imasco 

PK - J 

344% 

Inca 

Fa 

354% 

Jiawock 

159% 

1546 

Lobatt 

219% 


Lablaw Co 

21 U 


Mackenzie 

■ 

8 


59 

tm 

Maple Leat 

12 

12 

Maritime 

249% 

25 

Mark Res 

B%t 

846 

Motion A 

771% 

719% 

Noma Ind A 



Noronda Inc 


25 

Naranda Forest 

i£ 


Noroen Energy 

ns 


Nthn Telecom 


424% 

Nova Coro 

IC 

111% 

Oshowo 

rtf’ 

194% 

Prowrin A 


34% 

Placer Dome 

n; 

304% 

poco Petroleum 

c 





ft av rock 



Rcnateaice 



Rogers B 

it 

194% 

Rofitmans 

c 

67 

Royal Braik Can 



Sceatre Res 

I3W 

134% 




Seagram 



Sears Can 

7 


Shell Can 

«v% 


Sherrtn Garden 

119% 


SHL Systemhse 

94% 

■■ ■ 

Sautham 






Slelca A 

79% 

8 

Talisman Energ 

77*% 





Thom Mv, 

154% 


Toronto Dwin 

2014 


Tarstar B 

74 

24 

Transotta UHI 

14V% 


TraiuCda Pipe 

174% 


Triton Flnl A 


X15 

Trtmac 


154% 

TrizecA 

■ kl 


UMcarp Energy 


127 



Zurich 


AdialntlB 



Ahnulsse B new 



BBC Brwn Bov B 

1198 

1205 

CtoaGetcvB 

839 


C5 Homines B 

533 

550 

ElektrowB 

365 


Fischer B 

1375 

1350 

interdlscounl B 

776S 





Land Is Gvr R 

807 


Moevenglck B 

458 



1133 

1145 

Oerilk. Buclvte R 

138 

142 

Poruesa Hid B 

1670 

1620 

EoeteHcfff PC 

6590 

6670 

Satra Republic 

125 

m 

SandazB 



ScMndter b 



Suizer PC 

925 


Surveillance B 

1900 


Swiss Bnk Coro B 

379 

385 


ten 

565 

SwtesaSrR 

768 

767 

UBS B 

1115 

1140 

Winterthur B 

690 

no 

Zurich AssB 

5B$ IBM* : 9JS69 
prevUta : 94532 

132% 

NA 



See our 

EdkHXrtian D ir ectory 

every Tuesday 


U.S. FUTURES 


Season Season 
htah Law 


Ooen hBgh Low Close 'Dig OoJnt 


Grains 


WHEAT 


txnw 


336 

2.96 

JW 94 US”: 

3374. 

13* 




3J» 


145 

141 

1C -OJO*. 13.7*1 

165 

109 

Dec 94 155 

157 

3524% 

1534.- 031 'v 

ZL607 

1644% 

171 

Mar 95 157'Ji 

339"% 

336 

1564j — OJDta 

3326 

3364% 

1164% May 95 330 

150 

148 

148 

66 

14241, 

111 

-M 95 



3ja 

308 


140 -009 


ltlli -(L00 1 /, 12562 
3 M — (LOO'v 7^435 
351 V; — CUXl 1 /, 6,761 
151 W rOJUpM t.259 
X46 -0JB n 
X30 -OOOUi 53 


Dec 05 

Esi. sales. 17* nvi's. bAm 84.99* 

Thu-saowilnf *(L»9l on 599 
WHEAT IKBOTJ ifloOBu mVwrwv Mm 
355 X97 JKM 143 US'ii XU 

355*6 33C In Son 94 US 1C iO 

160 112911 Dec 94 3529) 155 151 

3JF^ X2S Mar 95 3533* 155^1 151 

146'h XTIhMay 95 
35334 3J2rtAji95 
Es*. soles NA Thu’s, sate 75*7 
Thu's ooen mi 38JI91 up 483 
CORN (CBOTJ SDBDUunMiiniura- flaaprs pareuiNH 
116M 141 JUI94 X84 2559, IBPa 183’* ♦ 101V5 04061 

191' A 2.40 Vi Seo M X80 in ’4 17BH: V9 *102^ 41,094 

275 X369.Dec*4 174 277 273^ 275 -OJUVSlOLOfl 

XflOVj X46WAnnr75 2J*V) Z8JV1 7JBV, TJOf, *0M 1X103 

XMVj 253 Mav9S Id's X85 353 181»i ,031316 1,990 

XM'« XS4 4u)95 183 XB5W 253 2541s ,03l3<-i 3501 

xro 255 Sep 75 ZW ZTOVi 2M Z7D -0JJ2V, 47 

251 '4 183 Dec 95 X«Vi TjB TMV i 251 rOm'u 3573 

Esi. sates B0/«ra tn/s. sales 66583 
Ttw* s open kit J53J29 us 206 
SOYBEANS (CBOT) uawirmmni-almnriNnl 
750 5J4Vi Jul94 7.10 7.15 »J)6Vi 7.11 ,0J)f4>l 40J83 

7JS tM Aua 94 7.10 7.13V, 73M 73»><, .in 19532 

7J»v, 6.17 Sep 94 7311 7316 AM 7J»v, *0J»I6 10, M0 

757 'Ti S55 , -.N0tf 94 A9I AT9 A87 A» »ai5 7X1)9 

A9BV, A13 Jan 95 A96>q T3M A92M4 AW »X129j 4920 

73)2 , A 4H Mar 95 7311 7315 A96 731234 *0.10 1758 

73DV> 621 May 95 6.99V, 7315V, *58 7314 *11116 1505 

7JH 674 JmvS *5»y, 7316^ 699 73H *0.1746 1569 

6509a 551 V, Nov 95 AM 640 634 6J4M *03MV, 1519 

Est. soles HA Thu's, sale* 50.265 
Thu’s open lot 157535 up 4H 
SOYBEAN MEAL (CBOT) 140 ms- Man bw u 
2303)0 l.K-VOJulM 20650 20850 204.70 7063)0 
10400 Aug 96 20AB0 30L7Q 20550 2073)0 
183. ID Sen 94 20650 20880 30550 20A90 
launoaw 20400 207J0 20450 206.20 

ITSLRTOecW 70S. JO SB? JO *W)C 20630 

173 31Jon95 70550 20750 20440 70640 +150 1570 

181310 Mar 95 705.00 20730 2B5J10 70670 *X30 1.746 

1 81 3)0 May 95 20450 30650 3000 305 JO *X40 

18X003UIW 705.00 205.00 205330 70600 *150 

Esi. solas NA -nWASdes 23576 
Thu' 5 Open W 85.925 up 232 
SOYBEAN CIS (CSOT) luoib-iUlnaTlHBs 


Semen 

Season 







High 

Low 

Open 

High 

Low 

aou 

ChO OP. tat 

1206 


120) 

12* 

1X01 

1X02 

♦ 0* 

4289 

1200 



12* 

1203 

11.98 

*023 

1671 

11* 

1057 Od 95 

1169 

11.89 

1139 

11-90 

*023 

■17 

1130 

ULHM<r96 




11.90 

*0* 

« 

Est. sales 11.958 Thu’s. Mies 11694 





aft 354 





COOSA 

INCSE) IDmrtif muornn 




14M 

999 Jul 94 

1345 

1380 

1345 

1365 


1450 

1485 

1IB0 SCP «4 

1390 

14)7 

1*9 

1402 

*9 41*0 , 




l«S3 

14* 



1S« 

1077 Mar 95 

1455 

1481 

I4S5 

1471 

-A 

MK7 

1570 

1078 May 95 

1488 

1488 

1488 

1490 

tB 

2.941 

1593 

1225 Jul 95 




15)1 

*8 

2346 

1350 

1265 Sep 95 




1532 


1,170 

1570 

1290 Dec 95 




1565 


LW 

1408 

1350 Mar 96 




1596 

9 8 

3 


1X211 





Thu-sescn^! 72JI9S 

off 266 





ORANGEJUKH (NCTM lSAD0K>^-«R.wr 

to- 



135.00 

8X00 Jui 9* 

8935 

90* 

BB* 

89* 

♦ 0* 

7*1 

134* 

9365 Sen 94 

91* 

92* 

90* 

9225 

-120 

IriW 

13X00 

95. ID Nov W 

93.75 

9X/4 

93* 

9X75 

-035 

1,753 

13200 

9730 Jan 95 

9fc* 

9X90 

95* 

9X55 

-065 

LI* 

12X25 

9830 M«r 95 

98.00 

9885 

97* 

98* 

-0* 

■/JUO 


1 OB* May VS 100JJ0 

100* 

ma* 

10-95 

♦ 025 

51 


105* Jul 95 




102* 

♦ 0* 

15 


IDS* ftp 95 




104* 

♦ 0* 



Nov *5 




104* 

♦ 0* 


Estate AOOO Hu’xate 

AI0B 





( tiki's open tat 23*3 

UP 376 







Metals 




HI GRADE COPPER (NCMX 

turn 





7X10 Jun 94 

m* 

113* 

111.90 





74* Jul 94 

112* 

111* 

HUS 



111.95 

7X90 Sep 94 

112* 

11190 

11X10 

11365 

♦ 235 21,043 

110.10 

7SJ5D6C94 

110* 

111* 

11025 

HI* 

♦ 1* 

7621 

10030 

7X90 Jan 95 




111.10 

*165 

297 

107 JB 

7100 Feb 95 




11060 

+ 1* 



7X00 Mar 95 

109* 

110* 

109.10 





7X85 May 95 






7&8 


78* Jill 95 




10825 




75* Aug 95 

112* 

112* 

11240 





77.10 Sep 95 







9220 

75.70 Od 95 




11X65 

♦ 1.95 

272 


77 J5 Nov 95 




112* 

♦ 2* 

239 

10X80 

88* Dec 95 

105* 

105* 

105* 

106* 

+ 1* 

752 


U* Jan 96 




10X* 

♦ 1* 



42JDMO-V6 








91.13 Aar 96 




10965 

♦ 165 

74 


22X00 

71DUB0 

20750 

2BM0 


* 1JD 22509 
*X» 18509 

*xao mm 

*250 6274 

timsijm 


20750 
707 JO 
20600 


3082 

3055 

30J4 

2954 

2887 

3055 

2030 

203)5 

2785 

2496 


2155 Jul 94 28317 2034 2030 28.U 
21 55 Aug 94 2010 2037 71B5 28.12 


*029 14465 

.. *026 14372 

2X40 Sep 94 2000 2025 283)0 2006 -036 llj« 

v.-.l‘50ct 96 2765 783M 2761 27J9 

23-00 Dec 94 2750 27J8 2760 275* 

2X65 Oral 95 27 JO 77 JO 2755 77 J3 

I670MV96 27.-9 27.60 27JS VM 

24.62 May 95 77.20 2750 27 JO 27X2 

2465 Jut 95 27 JO 27.40 2720 27 J6 

2550 Aug 95 27 JO 77 JD 27 JO Z7J0 


Est sate NA TWAUJeC. 17J43 
Tim’s opal Int BX4S1 all 1738 


*029 1.132 
• 0J4 22 ,9 1 9 
*037 X791 
*035 2^74 
*129 1.731 
*051 362 

♦030 71 


Livestock 


CATTLE (CMSt) *0600 »»- cents oer ts. 
7627 6X30JW194 65381 65.15 6452 

6X15 Aua 9* 4AI5 6422 4165 

65.7DOdN 67 JO <7.92 6750 

6750 Dec 94 68.95 WJS 6087 

673PFHI93 6960 7U0 *"60 

<960 Apr 95 71.12 71 JO 7US 

6690 JUT 95 6&3S 6435 6015 

Est. sate HL281 nVisate 11.176 
Thu'S Open W 7X816 UP 1063 

PEED ER CATTLE (CMSU XMOOte-cwna 
BUO 71. IB Aug 94 7X50 7X65 7125 

71 381 Sop 94 7X10 7X20 71JS 


7X87 
74.10 
7430 
742S 
7X10 
71 JO 


6X10 
6X97 
6762 
69X7 
70.17 
71 J3 
68.15 


*008 1929 
-418 31645 
-400 1X697 
*025 10811 

• 9-25 73)45 
-OS X266 
♦025 626 


iBi.ro 

SIS 

BOBO 

7X50 

■095 

8025 

MJ5 


70950094 7X05 7123 TIM 

71*0 Nov 94 7X18 7X45 7XDS 


JSJ7 

5140 

4975 

5050 

SOSO 


7X75 May 9 5 73311 7X10 7100 

7X95 Jan 96 74J5 7A40 7415 

72L»Mar96 71*5 7X50 7X35 

7145 Apr 96 71*5 71S8 7J45 

M ite 139 Thu's, sate X2S3 
Thu's open kit I45IS up 339 
HOGS (GMBU *AM8te.-roi»sPw«i. 

5*27 4SJ0Jun94 4092 49.10 4050 

4X30 Jul 94 0.95 49 JH OJO 

MJDAuOH *-10 4035 4765 

42.45 Dd 94 44.85 44.90 4462 

43315 DeC 94 44J0 44.90 4460 

41 10 Fed M 4420 HA7 44.15 
4020 Apr 95 43J0 4X45 4325 

4768Jun95 4075 4075 4055 

47^314 9S J 48;^ *27 4047 

- 4633 Thu’s. «Jes 5J*9 

Thu’s open inf 27.201 OR 612 
PORK BELLIES (C7AOU 48680 te - avid n 
4100 39J8JUIW 44.15 CLUB 

ran 3075AU094 4380 4190 4250 

39.10 Feb 95 *50 48.95 4805 

3U0Mor95 

JX68MOV95 «J0 BUD 47JB 

5050 Jul *5 

w, 47.75 AUO 95 . 

EsLsaies 1631 Thu " a sate 3632 
mftaSnW 8648 QH H7 


Mr Is 
7262 
TUB 
7XD7 
7X42 
7118 
7420 
7X3 
7X58 


-023 7627 
-032 2684 
-040 X30B 
-007 1 .754 
♦050 1 

-OJS 598 
67 

♦020 « 


51 JO 
49J» 
EsLsGes 


49JB 

4092 

ATI 

4A72 

4670 

4427 

4X25 

4060 

*27 


♦ 010 1.IU 
*005 0,112 
*028 8,104 
*03)2 4J40 
X28B 
♦020 798 
*025 420 

—002 73 


61.15 

4090 

6160 

5X00 

5025 


<195 

41H 

4825 

4760 

BUD 

5090 

BUD 


-025 1629 
— C.H) A034 

*ojs an 

37 

-OJO 31 
II 
7 


Food 


rnpFGEC (NCSE1 V^alte 
tSi 64.90 Jul 94 1^25 

48-50 Sap 94 13X75 
77. 10 DSC 94 13168 
78.90 Mar 95 |ML» 
8150 May « 127.90 
8S.0SJUI95 IBL50 
l2inu 89.005*>n , _ 
Est. sate 11686 ThMAKd* 
nM’sapgi -g . 

jyciAR-WORU) 11 INCSE) i 

lUfi 9.1 5 Jul 9* 1X42 

1X6D 9.0 Oct 94 1XG 

1110 9.17 Mar 95 1X» 


14X90 

14060 

13660 

I3A50 

13060 

I25JN 


13X75 131.75 
I3A50 IE-75 
13460 13160 
«12S UWO 
13000 127.90 

I2L50 12X58 


16634 


13470 

IKJO 

137.90 

130.10 

12925 

12025 

12725 


*165 8656 

* U0 26617 

* 1.15 1X713 

• 1.61 7642 

• 161 1689 

>173 194 

1173 38 


1X4S 1X35 
IX* IX* 
13317 II3B 


1U6 

1X42 

12.06 


— 03M 27,1*5 
‘0.01 73613 
■ n ni « ,»4i 


Thus open rrl CJ2S pH 163 


1686 

536.5 

5525 

5905 

9976 

1646 


(NCMX) sung troy az. 
51 L5 Jun 94 

•CBTfl 

Mr troy 

3713 Jul 94 

549J 

565.0 

5490 

5410 Aw M 

55X0 

S5BjB 

55±U 





3802 DOC 94 
40 U) Jan 95 

56X0 

5770 

56X0 

4IX5A6ar95 

57X0 



4IBJ)May95 58X0 

500 

5850 

4280 Jul 95 
4920 Sep 95 

5910 

5950 

930 

539 J) Doc 95 
5750 Jan 96 
SNLOMa-96 

60X0 

6073 

6020 


S7X5 


5976 


6061 
6106 
6116 
6286 
5756 

61X0 

B». sates 39600 Thu's, sates 3368S 
ThtTsooenint 1266* up 1516 
KA^HUM (NMEK) nwva-wwnwnnn. 
437.00 3?3»JulM 40670 41X20 40A00 411.10 
435.IMI 368.00 Oct M *9.90 41660 409.90 41460 

43960 374.80 Jon *5 41460 41860 41460 41620 

478jn 37030 Apr 95 41140 41930 415* 41X30 

Ear. sate HA Thu's, sate 2617 
Thu's open inf OL457 oil 358 
GOLD (NCMX) IMvarOL-teknmrvayoL 
41720 337*Jun«4 38X90 39X00 3S7JO 39160 

38660 3B63»Jut«4 39X30 

41100 341 .50 Aug 94 38X50 39560 38X50 39370 

41760 34460 Oct 94 39120 397 JO 39120 39670 

«X» 34360 Dec 94 3*460 *130 374* 3*9.90 

41160 36150 Fee 95 39920 40220 29920 <0* 

41760 36420 Apr 95 40X70 «W.J8 40470 *5.90 

*MJD 361 JO JunTS 407 JQ 411* 407 JO 41060 

41X50 380* Aua 95 41420 

41X30 4102 0OC19S 41X10 

42960 400J0 Dec 91 41820 42060 41820 SOM 

<2420 41220 Feb 96 <26.10 

Apr 96 43020 

EP.Wte 50600 Thu'xtete VM» 

Thu's Open kn 1406T7 UP 1093 


♦ 114 T 

*1X3 66203 

♦ 132 

♦ 1X4 2X34S 

♦ 1X5 1X123 

♦1X5 32 

♦ 1X7 X918 
■*136 X241 
♦146 1.224 

♦ 1*1 439 

♦ 142 2684 

♦ 142 1 

♦ 142 3 


4 520 11,715 
+ S* 9249 

♦ 5* 1,218 

♦ 5* 1,175 


♦620 8S7 

*620 

*420 71,109 
♦620 5,276 
*420 24660 
»&2D 4*»V 

♦ 430 6.782 

♦ 620 X4S6 

♦ 620 IJ28 

♦ 6* 7682 

*6* 4,519 
♦440 533 

+ 6J0 717 


Finanaai 


US T. DILLS (CMBR3 It mBtev mol HB DCS 
9626 9M6Jvn9« 95*4 9564 9562 9563 4681 

9668 9463 Sap 94 9X39 9X39 9533 KJ6 -40121,24 

96.10 9425 Dec 94 HJ9 94J9 94.72 9423 -03M 7J» 

9SJB 9XWMPT9S 9155 9155 9467 9467 —067 IMS 

Est. sates NA ’Flu's, sate 1961 
Thtricpaitit 34699 up SU 

5 VR. TREASURY (CBOT) tiaojmom- aax32naiarmsct 
1 13-051 m-075 JunMlOS-25 105-26 104-115 105-145- 04$ 32664 
110-195102-17 Sep 94104-275 104-30 104-13 104-165- 07 155,285 
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ESTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JUNE 18-19, 1994 


Page 11 


YW and SEAT Near 
Bailout Agreement 


Corporate Raiding , Russian Style 


saray 

' ■*-='• rsn nand 


MADRID — Talks on Friday 
between Volkswagen AG and the 
Spanish Industry Ministry over 
funding (or Vw’s unprofitable 
Spanish subsidiary, Sodedad Espa- 
flola de Auiomdvxles de Tuiismo 
SA, made progress, but the sides 
have to meet next week to discuss 
details, a VW spokesman said Fri- 
day. 

Minister Juan Manuel Eguia- 
garay and VW rb^i ra w n Ferdi- 
nand Piech made substantial pro- 
gress toward agreeing to Spanish 
state aid to SEAT, Otto Wads, 
the spokesman, said after the meet- 
ing. 

“TheJaetjhat the talks were sus- 
pended doesn't mean they won’t 
come to a successful conclusion," 
be said. , 

Juan Ignacio Motto, deputy min- 


ister of industry and energy, said: 
“We just need to fine-tune some 
technical aspects of the agreement, 
which will be done in lower-level 
talks neat week. The agreement 
should be closed the following 
week," 

Mr. Eg thagara y last week turned 
down Vws request lor the govern- 
ment to meet die cost of layoffs at 
SEAT, but is willing to provide 
technical development funds in di- 
rect proportion to the parent com- 


rect proportion to the parent corn- 
parry’s investment. 

VW is presenting its own plans 
for SEAT to the government. 


Job Cuts Seen 
AsEutocopter 
Posts a Loss 


AFP- Exit] News 

PARIS — Eurocopter, a 
□nit of Deutsche Aerospace 
AG and Aerospatiale, said 
Friday it planned to cut the 
equivalent of 1,000 to 1.200 
fuH-time jobs by the end of 
1995 to offset a forecast sales 
fall. 


Its chairman, Jean-Fran$ois 
Bigay, said total employment 
would fall to 9,300 or 9,500 
from 101500 at the end of 1993. 
. Me. A'gayabosaid the com- 


pany had a net loss of 462 
mtihon French francs fS83 


miltion French francs ($83 
minion) in 1993 on sales of 
10.05 WHoa francs. 

He said the coaspary ex- 
pects a loss of ‘less than 200 
nriffion francs” in 1994 on 
sales of 8.7 billion francs and 
expects to break even in 1995. 

Meanwhile, in the United 
States, Boeing Helicopters 
said that it would cot about 
one- third of its 6,800 jobs at its 
manufacturing plant near 
Philadelphia over the next 
two-andAmo-half years. 

The drvisao, part of the Se- 
attle-based aircraft maker 
Boeing Co.’s Defense and 
Space Group, said it anticipat- 
ed rW-Kninp business in 1996 
and 1997. 


Under the agreement, the Span- 
ish government would grant 30 bil- 
lion pesetas ($222 million) to fund 
research and development projects 
at SEAT. 

The government of Catalonia, 
the autonomous region where 
SEAT is located, has already 
agreed to provide 8 billion pesetas. 

This week, Mr. Piech threatened 
more layoffs at SEAT if the govern- 
ment funds did not materialize. 

Mr. Piech had reportedly been 
seeking 67 biUioQ pesetas in Span- 
ish government aid to help cover 
the cost of more than 4,500 layoffs 
already under way at SEAT. 

Mr. Eguiagaray has repeatedly 
refused to direct public funds to 
pay for layoffs at SEAT, saying 
such handouts would violate Euro- 
pean Union directives against gov- 
ernment subsidies. 

The compromise was being 
stitched together after months of 
high-level meetings that have cen- 
tered mi Spanish funds being used 
to finance as many as 30 SEAT 
proposed prefects. 

The government bailout is seen 
as the onty way to staunch the 
losses at SEAT and keep it an inde- 
pendent biami and not run afoul of 
the European Commisaon. 

(Reuters, Bloomberg) 


By Craig Mellow 

Speciai to the Herald Tribune 

MOSCOW — “We bad only one strategy,” 
says Leonid Skopisov, deputy director of the 
Moscow financial firm NIPEK. “To buy ev- 
erything we could.** 

With few other investors interested in own- 
ing Russian heavy industry, NIPEK’s limited 
capital turned out to go a long way. Through 
voucher auctions ana cash purchases, Mr. 
Skoptsov said, the firm has acquired a domi- 
nant or outright majority share is about 100 
former Soviet state enterprises. Most of these 
operate in meat-and-poiatoes industries such 
as shipbuilding and ml field construction. 

But NIPEKs most prominent acquisition 
is 23 percent of the Urals Factory of Heavy 
Machine Building, or Uralmash. at a price of 
just under $500,000. 

Uralmash was a cherished symbol of the 
Soviet idea of progress, its stamp presses and 
excavators foisted upon socialist industry 
from Prague to Beijing. The last Soviet prime 
minister, Nikolai I. Ryzhkov, had been Ural- 
mash’s general director of production. Now 
the plant promises to be an important lest 
case for Russian capitalism. 

The mood outride Uralmash' s gates in 
Ekaterinburg, a two-hour flight east of Mos- 


cow, is grim. Most of the work force has been 
furloughed for two or three months and had 
not been paid for two or three months before 
that. An elderly nurse from the factory kin- 
dergarten laments its loss to budget cuts. “My 
heart hurts,” she mumbles, shuffling away. 

Bui Uralmash also has hidden strengths. 
Neatly unique among Soviet industrial show- 
cases, it produced almost entirely for the 
civilian sector. Its current cash crunch is due 
less (o disappearing markets than to custom- 
era having no money to pay with. 

No Jess important, Lhe 4 1 -year-old general 
director, Viktor Kbrovin, heads a young 
manage ment team that seems interested in 
facing the future rather than avoiding it. 

Most Russian industrialists still consider 
that the more employees they have, the bet- 
ter. Uralmash, by contrast, is aggressively 
unbundling the conglomerate mammoth left 
to it by central planning. Gose to 50 “small 
enterprises” have been spun off, bringing the 
core factory’s bead count down from 55.000 
to 22,000. 

Notice has been taken by Caterpillar Inc„ 
whk±j has formed a joint venture with Ural- 
mash to produce oil drilling equipment. Ural- 
mash officials say an agreement is also pend- 


ing with Austria’s First Alpina to make 
machine tools. 

Part of Mr. Korovin's modernity has been 
a tolerant attitude toward NIPEK. He met 
tbe press jointly with NIPEK's reclusive 
Georgian mastermind, Kakha Bendnkidze, 
and ceded the firm two seats out of seven on 
Uralmash ’s board of directors. 

Andrei Lutsenko, tbe plant official in 
charge of privatization, plainly sees the raid- 
ers as a force only until Uralmash finds an 
investor who can actually invest. “Foreign 
investors would think is advance how they 
can help the plant.” he comments addly. 
“Not just buy because it’s cheap.” 

A capital input of $100 million, Mr. Lut- 
senko estimates, “would help us solve many 
of our immediate problems.** 

Mr. Skoptsov also pays tbe most polite 
respect to Uralmash management. But he 
does not intend to be gotten rid of so easily. 

“Tbe enterprise has a liquidation value of 
$300 million.” be observes, just a hint omi- 


: Frankfurt*/; Paris 

DAX . ‘V>?; Vs •• 1<fe.I*!eK .,?.CAC,4Q" ‘ ' 

. =■ V! " «; VLjSft- - ^ v <■ i 




nously. “And we bought one-quarter of it for 
half a motion. We’re thankful to Zhirinovsky 


half a motion. We’re thankful to Zhirinovsky 
and all tbe other reasons everybody is 
afraid,” he said, referring to the extreme 
rightist politician. “They let us beggars be- 
come capitalists.” 






Sources: Reuters, AFP 


Iraenuotns] Herald Tribute 


Ruhrkohle Profit Slumps 25.8% 


Bloomberg Business News 

ESSEN, Germany — Ruhrkohle 
AG, Germany’s largest hard coal 
mining company, said Friday that 
net profit slumped 25.8 percent in 
1993, and it announced plans to cut 
15,000 jobs by the end of the de-- 
cade. 


marks ($30 milli on) in 1993 from it can consider paying a dividend to 


Sweden Prices 
Pharmacia 


Very briefly: 


Last year sales drt 
cent, to 23.41 billion 


Without state subsidies, contri- 
butions from profitable group units 


Compiled by Ov Staff From Dispatckes 

STOCKHOLM — Sweden’s In- 


“Thc year 1993 was a very diffi- 
cult year for Ruhikohle, especially 
because of the crisis in the steel 
industry,” Chief Executive Heinz 
Horn said at the annual news con- 
ference, “The company's situation 
wiQ remain under strain in 1994.” 

Ruhikohle said that net profit 
dropped to 49 minion Deutsche 


66 mfllinn DM a year earlier. shareholders. 

, , . ... Mr. Horn also said that to reach OI T 

J5l ** gpal of raising productivity by Share Issue 

cent, 10 23.41 billion DM. about 2J percent a year, Ruhr- 

Without State subsidies, COmri- kohle Will hftve lO CUl 15,000 coal- Compiled by Ov So# From Dispatches 
buttons from profitable group units m i nin g jobs by 2000. Including its STOCKHOLM — Sweden’s In- 
snd tbe inclusion of hidden re- other activities in power plant engi- dustry Ministry said on Friday that 
serves, Ruhrkohle remains deep in neering. chemicals, trading and real it had priced each share of Pbarma- 
ihe red. Its mam coal-mining unit estate. Ruhrkohle now employs da AB, the drngmako’, medical 
merely broke even, and the compa- about 1 1 1,000 people. equipment and biotechnology 

ny carried over losses of 68 mfluon Mr. Horn said the company's fu- company it is privatizing, at 120 
DM from 1992 in its balance sheet. was secure as a result of tbe kronor (S 15.27) for institutional 

government's approval last month buyers. 

Mr. Horn said that once the of a plan to guarantee German coal The Swedish public will be etigt- 
main business returned to profit, mines the annual sale of 35 million ble to purchase shares for 1 10 kro- 
Rnhrkohle would have to repay the tons of hard coal to domestic elec- nor, ha wri on a previously an- 
gpveroment 33 billion DM before trical utilities through 2005. nounced discount of 10 kronor. 


• Arfanespace's 64th Ariane rocket placed three satellites in orbit in the 
European company’s first launch since a January failure. A communica- 
tions satellite of the International Telecommunications Satellite Oreurf- 
zatko and two small, experimental satellites for the British Defense 
Research Agency were released into scat*. 


SAS: Airline’s Job Cutbacks in Japan Spread Shock and Disillusionment 


Gootfamed from Page 19 

entry-level salaries would have to 
be reduced if more young workers 
were to find jobs, something trade 
unions wanted would lead to lower 

maim, life insarance^rompanies 
and dty banks have already frozen 
salaries for new recruits, while or- 
ganized labor accepted an unprece- 
dented freeze oo wages ia exchange 
for job security in its annual wage 
offensive last spring. 

Tbe environment is especially se- 


vere for Ji 
denedbyhi 


inese airlines, bur- 
yen-based costs and 


facing cut-throat competition from 
lean American carriers across the 


lots who are paid a fraction of their 
Japanese countetparts- 
Rudi Schwab, SAS’s general 


Tbe sharp appreciation of the 

S and generous fringe benefits 
boosted the average cost for 


Pacific and low-cost camera in 
Asia. 


manager for Japan and Korea, said ^ 

yields on its daily flights from To- 6X0655 $ 1 00.000, he said. 

I /-> .1 14 ...' l ■ i n 


Japan's biggest international 
carrier, Japan Air Lines, has all but 
admitted that it cannot compete on 
certain rentes with Japan-based 
staff. It is shifting more of its pas- 
sengers to a subsidiary staffed with 
Thai stewardesses and foreign pi- 


kyo to Copenhagen were “compar- 
atively good.” but slashing costs 
here was indispensable to the com- 
pany’s global restructuring “The 
human aspect is deeply regrettable, 
but if you have a company that's 
bleeding, it’s the obligation of man- 
agement to pm a stop to it,” he 
said. 


Management’s goal is to trim 1.0 
billion yen ($10 million) in annual 
operating costs by the end of this 
year. It plans to subcontract cargo- 
handling and passenger-checking 
functions, rebase air hostesses from 
Japan to Scandinavia and auto- 
mate more back-office transactions 
in Tokyo. 


The Swedish public mil be eligi- 
ble to purchase shares for 1 10 kro- 
nor, based on a previously an- 
nounced discount of 10 kronor. 

A total of 47-5 minion shares will 
be placed with individual investors, 
while 243 million will be placed 
with institutions, the ministry said, 
adding that berth offerings were 
oversubscribed. 

Pharmacia shares dosed at 12) 
kronor on lhe Stockholm exchange 
on Thursday after having hovered 
near 125 kronor during the bidding 
period of tbe last sewal weeks. 

The Industry Ministry said it has 
collected over 23 billion kronor (S3 
billion) from the first phase of its 
privatization program. 

Trading in American depositary 
receipts of Pharmacia began Friday 
on the US Nasdaq electronic ex- 
change. (Reuters, AFX. Bloomberg) 


• Spanish chemical industry workers and employers signed a tentative 
agreement for a 3 percent salary rise directly affecting 180.000 workers 
and indirectly affecting 70,000 more A final pact is expected on June 30. 

• Uzbekistan plans to intiodoce a permanent currency unit, the sum, on 
July 1, worth 1.000 interim currency units, or sum-coupons. 

• Tbe Etaupean CaomraioD reimposed duties on Malaysian-made color 
television sets. Malaysian televisions passed a 2.3 million European 
Currency Unit ($2.7 million) ceiling. Similar measures wore taken in 
connection with ethylene polymer bags and similar containers from 
Malaysia and Thailand. 

• LVMHMo§tHennessy Loois VuHtonSA predicted its net profit would 
be up 30 percent in the first half, based on a 22 percent rise in sales for the 
five months through May. The luxury-goods company cited growth in 
Europe and Asia. LVMH earned 935 million French francs ($ 168 million) 
in the first half of 1993. 

• Gob Medfcemnee SA said sales rose to 4.20 billion francs is the six 
months to April the first half of lhe company’s financial year, from 3,89 
billion a year earlier. 

• Den norske Bank, SknAnraka FnskiMa Baoken AB, Union Bank of 
Finland Ltd. and Unibank AS decided to dissolve their formal coopera- 
tion under Lbc name Scandinavian Banking Partners. SE-Banken said the 
move reflected & change in the Nordic banking market 

• Turkey aims to slash inflation to 20 percent next year and achieve 3 
percent growth under a plan proposed to the International Monetary 
Find. Inflation was running at a 1 17.8 percent rate in May, and the 
economy is not expected to grow this year. The government proposed 
high interest rates to combat inflation and stabilize the lira. 

• Bofora AB, a unit of the defense-and- technology conglomerate Celsius 
Industries AB, plans a restructuring that wiD involve several hundred job 

CUtS. Reuters. Kmgftt-RuUer. AFX, Bloomberg, AFP 


ym 


FrtduV CMnv ** 1 

Tables Include the nattomikte prices up to 


the cfosH 
late trades 


on Watt Street and do not reflect 
sewhere. Vlo The Associated Press 





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If 



such VabsSwiBsy. Tbe toUl fee shall be tbewan of the anxmils 
: » allocated la the relevant jw Bbl if Uwto^wwiola aHocated 
AaB fid) to *ero then no pei&nnniee fceahdl he payable. Tbe 
~ allocation riwB not resume until the Net Asset Value per share 
I shall exceed the hipest Net Asset V alue per share previously 
attained as al any previous 1st January. 


ralculation method of tbe peifenaro fte wB be sppSe^ 
- as (nun January H 1994” , it DSD 2^1J,7I* 


The performance ice is payable within 10 days after the. end of 
; JhejSr.’’ :... 

Fnr.the Gosapassyz 

BAJVQDE Dfe GGSIMW BWHOWD BE BOTHSCBBiJ LUXEMBOURG 

ailfcratewBdriiii.i iirlSmwia 

L-fiSSiUXEMBOt/BC- 


debis 

Immobilienmanagement 


Potsdam er Platz Project 

Participation Competition for Selecting Firms for Carcass, Roof, Cladding Work and Lift Installations 


We are supervising the construction of new city permises on 
the Potsdamer Platz in Berlin on behalf of Daimler-Benz AG. 


The project Is divided up into 4 sub-projects and 17 
individual buildings: 


There will be a limited invitation to tender for the 
following services as part of a participation review under 
the control of VOD/A. 


Please enclose the following documents with the 
application as evidence of capability. 


-- r-rftWtl 


Bldg 

Use 

i 

A1 

Office 

33.000 i 

A2 

Residential 

25.500 ! 

A3 

Residential 

6.000 ; 

A4 

Residential 

14.500 ; 

A5 

Hotel 

30.000 • 

UG 

Car paiVstores/tech bldg services 

32.200 

m 

Office/retail 

20.000 

B2 

Office/ retail 

2.700 ’ 

B3 

Office' retail 

11.500 • 

B4 

Office/rerall 

18.100 ! 

B5 

Retail/residential 

21.700 ; 

B6 

Office/retail 

18.300 < 

B7 

Offic^/retail 

18.300 • 

B8 

Residential/retail 

18.500 

B9 

Residential 

lO.oOO | 

UG 

Car park/stores/tech bldg services 

1 07.000 J 

Cl 

Office 

43.400 

Dl 

Casino 

8.000 ; 

D2 

Theatre 

13.500 t 

■ 


1. Carcass work 

2. Cladding 

3. Waterproofing of roofs 

4. Lift installations 


The services will be awarded separately in accordance 
with headings 1 to 4. 


1. Turnover of company in last 3 trading years in relation 
to comparable services. 

2. References with details of contract size and contract 
dates. 

3. Number of employees broken down into occupational 
category. 

4. Technical resources available. 


The building sponsor reserves the right to select applicants 
without constraint. 


It is planned to award the building services separately for 
individual buildings nr groups of buildings. 


Applications must be sent in writing by 24.6.94 to our 
company in charge of project control: 


Planned completion rimes: 


Building C 
Building A2 - A5 
Building B5 - Bu 
Building A l/Bl 
Building DI -D2 


January 95 - November 96 
Ma> °5 - November 90 
lulv 95- April 97 
September 95 - June 97 
November 95 - February 97 


Building B3-4 October 9o - May 98 


DREES & SOMMER AG 

Projektmanagement und teen n is the Beratung 

ObentrautstraBe 72 

D- 1 0963 Berlin 

Tel.: 030/21 50 95-0 

Fax: 030/21 50 95 20 















































Page 12 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JUNE 18-19, 199* 


NYSE 


12 warm 
HW LOW an* 


Si* I 12 Mourn 

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Friday's dosing 

Tables include the nationwide prices up to 
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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JUNE 18-19, 1994 


Page 13 — 


ASIA/PACIFIC 


Thailand to Double 
Gas Imports From 
Other Asian States 


By Michael Richardson 

Jraenumpna/ Herald Tribute 

SINGAPORE — Thailand will 
s las h oil imports and is negotiating 
with Southeast Asian countries to 
more than double its imports of 
n a tur al gas in the next few years; 
according to officials and oil com- 
pany executives. 

They said that Burma was Ekdy 

to be the first for 1 

to Thailand, fol 
Malayan or Vie tnam . 

Rare. Sookawe&h, president of 
downstream oil business in the Pe- 
trol ram Authority of Thailand, 
said gas use in Thailand was ex- 
pected to more than double by the 
end of the decade, to 2 billion cubic 
feel a day from around 900 million 


by other 


at jjresenL 


said Thailand would reduce 
its reliance an imported oil and 
meet public demand for wider use 
of low-pollution fuel by increasing 
the share of gas jn the country's 
energy consumption to 25 percent 
by 2000 from 17 percent in 1993. 

The authority is responsible for 
baying gas from .producers in Thai- 
land and delivering it by pipeline to 
end users, mainly power utilities 
and large industries. The authority 
is also responsible for negotiating 
with overseas suppliers. 

Mr. Pala spoke at an oil confer- 
ence co-sponsored by the Interna- 
tional Herald Tribune and the OD 


He said Thafland was negotiat- 
ing with Burma to bii 
pipeline from the Gulf 
ban and would soon open 
riaas wUh Malaysia on the possible 
1 ctf liquefied gas by tanker, 
d’s own proven reserves 


of gas. mainly in the Gulf of Thai- 
land, amount to around 15 trillion 
cubic feet, enough to last only 
about 20 years at the rate of con- 
sumption forecast for the end of 
the decade. 

Total SA of France is the opera- 
tor of the Martaban gas field in 
Burma, with a 525 percent stake. 
Unocal Corp. of the United Suites 
has the other 47 J percent share. 

Melchior de Mathard, Total’s 
chief repr e s en tative for Southeast 
Asia, said the Martaban gas field in 
Burma had proven reserves of at 
least 4 triHion cubic feeL 

He said that if a sale price and 
other commercial terms could be 
agreed with Thailand, it would take 
between two and three years to 
bring the field into production and 
to build a 400- kilometer (250-mile) 
pipeline to Thailand. 

Analysts said the military gov- 
ernment in Rangoon was eager for 
the project to proceed, seeing it as a 
source of hard currency and a 
means of further breaking efforts 
by the United States and other 
Western countries to isolate Bur- 
ma. 

Burmese apportion groups have 
campaigned against the project on 
the grounds tut it would provide 
revenue for the Junta, which «»»» 
to power in 1988 after crushing a 
pro-democracy uprising. 

Tile pipefine would pass through 
' southeast Burma conlest- 
by members of the Karen mi- 
nority seeking autonomy from 


Capitalism 9 s Rough Edge 

Mongolia Making a Difficult Transition 


The pipeline is expected to carry 
around 250 anHioo cubic feet of gas 
a day. 


China Plant 
Under Study 
By Toyota 

CtmtpiMljOmSii&FmMDbriadtB 

TOKYO — Toyota Motor 
Corp. sad Friday it was con- 
sidering making cars in China 
in a joint venture with Tianjin 
Automobile Industrial Corp. 

“We are studying the issue 
from several angles, but noth- 
ing concrete has bran decid- 
ed,” a Toyota spokesman said. 

TheTfowo Kejzai Shiinbun 
newspaper said Toyota ex- 
pected to start with produc- 
tion of engines and transmis- 
sions in 1$95 — and to sell 

150.000 units the following 
yew — before starting to make 
complete automobiles. 

Tlaxgin Automobile made 
46,700 Daihatsu Motor Co. 
Charade cars and 36,000 Dai- 
hatsu Hijra commercial vehi- 
cles in the year that ended in 
March and plans to make 

46.000 Charades and 32,000 
Hqets in the current year. 

Toyota, which owns 16 per- 
cent of Daihatsu, also supplies 
technical asastance to odd 
Cup Automobile Corp., which 
manufactures vans in Shen- 
yang. Gold Cup made 4,400 
vans in 1993. 

Separately, a U.S. negotia- 
tor said in Tokyo that Japan 
and, die -United States had 
faded tpagrce in their latest 
talks op Japanese government 
procurement- of telecommuni- 
cations equipment The nego- 
tiator,^ who asked not to be 
identified, said Charlene Bar- 
shefsky, the deputy ILSL trade 
representative, would oome to 
Tokyo next week for more 

tatlca. " 

. (Rollers, AFX AFP) 


Bloomberg Business News 

ULAN BATOR — When 
Mongolia opened up to the 
world in 1990, its leaders hoped 
hordes of deep- pocketed West- 
ern investors would descend on 
the vast Central Asian state. 
They are still hoping 

The first nation in Asia to 
dump Manual economics, Mon- 
golia needed cash desperately to 
ease the wrenching transition to 
a market economy. 

Now, Mongolia has only a few 
viable investment projects and a 
growing list of disasters. The 
country has attracted more than 
its share of shady characters 
keen to exploit Mongolian inno- 
cence of capitalism. 

“It’s the frontier of capitalism, 
so you get frontier capitalists,” 
one Westerner said. 

Locally, the most famous case 
remains that of a Canadian who 
m a na ged to convince various of- 
ficials he was either the scion of 
Canada’s richest man or his 
conn try’s top aid official to 
Mongolia. 

The rotund silver-haired 28- 
year-old managed to wangle a 
room in the presidential guest 
bouse, the use of a government 
limousine and driver and entree 
to high officials. 

Before the Mongolian courts 
sentenced him to five years in 
prison for fraud in 1992, he had 
persuaded a banker to hand over 
$16,000 to change at favorable 
rates in Hoag Kong, and the 
Slate airline had given him un- 
limited free travel while he 
it buy a Boeing jet 
•t year, Mongolia pardoned 
him on menial health grounds, 
depriving the Mongolian media 
of their favorite 


More itnmiiging, however, was 
the hemorrhaging of the coun- 
try’s hard -currency reserves 
through unsupervised foreign ex- 
change trading. 

Over 18 months during 1990- 
91, the country squandered vir- 
tually all its foreign currency and 
gold reserves of $90 million in 
the dealing rooms of London. 
Tokyo and Hong Kong 

Michael Brown, a former con- 
sultant for Lbe International 
Monetary Fund, sharply criti- 
cized the Mongolian dealers, 
who ranged in age from 19 to 63. 

“The bank became a casino, 
with staff spending longer and 
longer at the screens with little 
hope of recouping past losses.” 
Mr. Brown said in a report com- 
missioned by the government. 

Entrepreneurs also have ex- 
ploited foreign ignorance about 
Mongolia, further damaging the 
country’s credibility. 

The most high-profile of these 
has been Khandkar Khali d Ah- 
med Hossain, president and 
chief executive officer of Hong 
Kong-listed MKJ Corp. After 
the Princeton-trained Banglade- 
shi took control of the unprofit- 
able company in April, the value 
of its stock doubled from 30 
Hong Kong cents to 62 cents by 
the start of June. Mr. Hossain 
owns 20 percent of the stock. 

During this period, be issued a 
flurry of announcements of con- 
tracts signed by (be company, in 
which Mongolia figured promi- 
nently. 

Annoyed that Lbe information 
had not been cleared by the stock 
exchange, Hong Kong’s securi- 
ties watchdog, the Securities and 
Futures Commission, halted 
trading of the stock on June 6 


and demanded evidence that the 
deals actually existed. 

In one project, Mr. Hossain an- 
nounced on May 4 that MKJ had 
signed an exclusive agreement 
with San Francisco-based Albee 
Floton Corp. to sell an all- terrain 
vehicle, the Flowton, in Asia. 

“The need for runabout size 
Flow tons in Mongolia alone 
could generate an industry worth 
upwards of half a billion dollars 
annually,” the MKJ news release 
said. Never mind that Mongo- 
lia’s total imports in any year 
barely exceed $500 million. Ex- 
tensive inquiries failed to locate 
either tire Albee Floton Corp. or 
knowledge of the legendary vehi- 
cle. Telephone calls concerning 
the project to Mr. Hossain’s 
Hong Kong headquarters have 
not been returned. 

“It would be very unlikely that 
a piece of equips* 111 supposed 
to do the things this vehicle does 
exists and yet nobody’s beard 
about it.” said Neal Cramer, a 
manager with Houston-based 
Western-Geophysical a major 
supplier of oil field equipment. 

Officials at the U.S. construc- 
tion companies Bechtel Corp. 
and Crawley Corp. said they 
were unfamiliar with the vehicle, 
although they were named in 
MKl’s news release as having 
operated the vehicles “extremely 
successfully” in Alaska for 20 
years. 

Despite it all there are signs 
that Mongolia's economy is 
turning the corner, and the coun- 
try may yet win back investors. 
Inflation has slowed to below 3 
percent a month, partly the re- 
sult of the government's tight 
controls on credit. 


Asian Timber Alliance Puzzles Analysts 


KUALA LUMPUR — Indonesian timber 
tycoon Png'ogo Pangestu will announce Satur- 
day an agreement to take over Construction & 
Supplies House BhdL of Malaysia, but analysts 
are uncertain what is behind the takeover. 

The agreement brings together timber-relat- 
ed assets in Malaysia, Indonesia, Papua New 
Guinea and China. Mr. Prajogo will own 70 
percent of Construction A Supplies Home and 
through family companies retain a 40 percent 
stake in hisflagship company, PT Bari to Pacific 
Timber, Indonesia's largest listed company. 
Construction A Supplies House, a small 
company, will raise 259 bil- 
lion ringgit I billion) through a complex set of 
new stock and rights issues in return for a 30 
parent stake in PT Barito Pacific Timber. 

. While -analysts say the-deal is positive for 
Construction A Supplies House in thatii trans- 
forms a small company into an asset-rich con- 
cern, they are uncertain of the Indonesian 
group’s motives and the long-term implications 
for the Malaysian firm. 


Yap Huey Chiang, timber industry analyst at 
Baring Securities in Kuala Lumpur, said Con- 
struction A Supplies House would be better off 
buying timber-processing companies or compa- 
nies with timber concessions outside Indonesia. 

Mr. Yap said buying into FT Barito Pacific, 
whose mam asset is its 29 million hectares (7 
mfllinn acres) of timber concessions in Indone- 
sia, made little sense because Construction A 
Supplies House would not be able to sell the 
logs outside Indonesia without incurring high 
costs because of Indonesia's heavy log-export 
levy. 

Another sector analyst, from a Singapore 
brokerage, said PT Barilo was probably attract- 
ed by the fact that Malaysian stocks tended to 
command higher price-earnings ratios than In- 
donesian ones. 

By iqecting their assets into a Malaysian 
listed company, the Indonesian group gets a 
better market value, an analyst said. 

Analysts also wonder why there has been 
such a nigh level of support from both Malay- 


sian and Indonesian governments for the deal 
One view is that Malaysia and Indonesia want 
to stabilize timber prices bv con trolling the 
supply. 

Despite their uncertainty, both analysts and 
dealers said Construction A Supply House's 
stock is likely to surge when trading resumes 
Monday. 

The stock was suspended in March at 4.68 
Singapore dollars (S3.05) in Singapore and 7.95 
ringgit on the Kuala Lumpur Stock Exchange. 
One brokerage analyst said he hoped things 
would be clearer after the signing, but added 
that it may take another year or two to know 
whether to recommend Construction A Sup- 
plies House as a long-term buy for institutions. 

(Reuters. Bloomberg) 


To subscribe in Switzerland 

jus call, toll free, 

155 57 57 


Bond Bears 
Charge Into 
Australia 

Compiled by Our Staff From Dispatches 

SYDNEY — Australian long- 
dated bond yields surged to a 19- 
month high Friday, leading to a 
slump in shares, as concerns grew 
about inflation and rising interest 
rates. 

“It’s part of the global picture,” 
said Ron Porter, a director at JJJ. 
Were & Sons. “Everyone in Europe 
is spooked by rates going up." 
While Australian rales have been 

relatively stable recently, the tight- 
ening trend set by the United States 
has worried investors. The Austra- 
lian economic cycle is a few months 
behind that of the United States, 
and investors fear that inflation jit- 
ters plaguing the U.S. bond mar- 
kets may take bold in Australia. 

Some traders, however, found 
other reasons for (he sell-off in 
bonds. They said that U.S. hedge 
funds based in Tokyo had started 
liquidating bond positions. 

“Investors are selling out be- 
cause they can't stand any more 
pain,” said Ivana Boitinl an econo- 
mist at Soti&e Generate, adding 
that she believed the yield- on 
benchmark tQ-year government 
bonds would rise to 9J percent 
within six mouths. 

The 10-year bond was quoted 
with a yield of 924 percent, its 
highest level since December 1 992 
up from its previous 18-momh 
peak of 9.14 percent Thursday. 

Australian shares also mm* un- 
der pressure Friday as the All Or- 
dinaries index feD 4.8 points to 
20512, for a fall ctf 182 points on 
the week. 

“We need to see another round 
of good corporate earnings to con- 
firm what everyone sees as growth 
in the economy,” said David Iron, a 
trader at CS First Boston. 

The next round of earnings re- 
ports begins in August. Companies 
usually report twice a year. 

The Australian dollar, however, 
was stronger at 7328 U.S. cents, up 
from 7273 cents Thursday. 

“Underlying f undamental sup- 
port, such as commodity prices and 
talk that rates wfll go up here soon, 
should be supportive for the dol- 
lar.” said Paul Kammd of Westpac 
Bank. (Bloomberg, Reuters) 

■ Huri Rales Seen Rising 
Domestic interest rates are likely 
to rise further this year because of 
intense competition for deposits, 
the president of ThaQand’s second 
largest bank said Friday, according 
to a Bloomberg Business News re- 
port from Bangkok. 

Although most Thai banks have 
raised rates four times since Febru- 
ary, conditions in the local money 
market indicate that another in- 
crease will be necessary, said 
Bantfaoon Lamsam, president of 
Thai Farmers Bank. 

“Domestic banks are , 

intensely for deposits,” he 


Kashima Holding 
Asset-Sale Talks 

Kxtgtu-Ridder 

TOKYO — Kashina Ofl Ca 
said Friday it was talking with one 
of its shareholder companies, Mit- 
subishi Petrochemical Co_, about 
selling its naphtha-storage fatalities 
to tty to offset its loss cm foreign- 
ex change trading. 

The spokesman declined to dabo- 
rate ahead of Mitsubishi Petrochem- 
icaTs general shareholders meeting 
June 29. Kashina in early April 
announced a paper loss of 1525 

fcdffioD yen ($1 biflroii) on forward 
foreign exchange transactions and 
has ance beta m negotiations with 
its parent companies, mainly to ask 


able asset liquidation. 

A report m the Nikkan Kogyo 
Sbimbun said Kashima’s proposed 
sale of four naphtha storage rants 
and a neighboring berth at hs Ka- 
shima refinery would raise a total 
of 27 billiou yen. 


MONTEREY TRUST 

Socteti (ftnvestlssemam & Capita! Variable 
Registered office: Luxembourg, 14, roe Akfringen 
Commercial Register: Luxembourg Section B 71553 

NOTICE OF THE ANNUAL GENERAL MEETING OF 
SHAREHOLDERS 

The Annual General Meeting ot Shareholders of MONTEREY TRUST, 
SfCAV, wffl be held at its registered office in Luxembourg, 14, me 
Aldrfngen, on June 28. 1994 at 3.00 p.m. for me purpose of 
considering and voting upon the blowing agenda: 

1. To hear and accept 

a) the management report of the rflrectors 

b) the report of the auditor. 

2 . To approve the statement of net assets and statement of changes in 
net assets far the year ended March 31, 1994. 

3. To discharge the orectors whh respect ol their performance of 
duties during the year ended March 31. 1994. 

4. To elect the directors to serve until the next annual general meeting 
of shareholders. 

5. To elect (he auditor to serve until the next annual general meeting 
ol BharehoWers. 

6. Any other business. 

The sharehotders are advised lhat no quorum for the statutory general 
meeting is required and that decisions win be taken at the majority of 
the shares present or represented at the meeting. 

In order to take part at the statutory meeting of June 28, 1994, the 
owners of bearer shares wffl have to deposit their shares five dear 
days before the meeting at the registered office ot the Fund, 14, rue 
Akfringen, Luxembourg, or with the following bank: 

Benque Gdnfrale du Luxembourg 
14, me Akfringen, Luxembourg 

The Board of Directors 


International 

Classified 

Marketplace 

• Monday 

International Conferences and Seminars 

• Tuesday 
Education Directory 

• Wednesday 

Business Message Center 

• Thursday 

International Recruitment 

• Friday 

Real Estate Marketplace, HoBdaysand Travel 

• Saturday 

Arts and Antiques 

Plus over 300 headings in international Classified 
Monday through Saturday 
For further information, contact Philip Oma in Paris: 
Tel: (33-1) 46 37 94 74 - Fax: (33-1) 46 37 52 12 

HcralhSSribunc 


j|Si debis 

Immobilienmanagement 

Fotsdamer Platz Project 

Participation Review for Selecting a Prime Contractor 

We are supervising the construction of new city premises on 
the Potsdamer Platz in Berlin on behalf of Daimler-Benz AG. 


- v , 


There will be a limited invitation to tender for the 
following services as part of a participation competition 
under the control of VOB/A. 


Turnkey construction of 2 administrative buildings 


Data: 



Building 1 

Building 2 

- Walfed-in space, approx. 

127.000 m 1 

88.000 m’ 

- Storey surface area, approx. 

31.000 m- 

21.000 m- . 

- Facade surface area, approx. 

17.000 nr 

10.000 nr’ 

- Roof surface area, approx. 

5.000 m 1 

3.000 m : 


! Please enclose the following documents with the 
j application as evidence of capability: 

! 1. Turnoter of company in last 3 trading years in relation 
! to comparable services. 

i 2. References with details of contract size and contract 
dates. 

I 3. Number of employees broken down into occupational 
category. 

j 4. Available technical resources. 


Applications must be sent in writing by 24.0.94 to our 
company in charge of project control: 


The building sponsor reserves the right to select applicants 
without constraint 

Completion time-. 

Roughly November 1 994 - June 1 997 


DREES & SOMMER AG 

Projektmanagemeni und technische Beratung 

Obentrautstralie 72 

D-I09o3 Berlin 

Tel: 030/21 50 95-0 

Fax: 030/21 50 95-20 


Investor’s Asia 


Singapore 
.. Straps Tories 


■Hong Kang 
HsngjSerig 

.13008 
'tats 1 
14800 
’»O0B 




Tokyo . /. 
Nikkei 228 





1994 

Qtohanga's.:/-.fociox 




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> ■ ' ' 9,110.35 ■ 9,02232 


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.^30823 : t 2.287^34. - 40.88. 

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; 2/1 <»33 . 2,10376. -04J2, -. 



2&751 T&8Jte 

Sources: Reuters, AFP 

Intemamu] Herald Trilwne 

Very briefly: 


China will mote than double its number of foreign law firms to 100 from 
41 over the next two years, a Ministry of Justice official was quoted as 
saying Friday. 

• Sino French Holdings, the joint venture between Lyonnais? des Emt 
SA and New Worid Development Ca, has signed a 30-year contract io 
supply drinking water to the central Chinese city of Nanchang. 

• Citicorp Inc. unit Citibank Australia Ltd. said it had signed an 
agreement to deal with its customers through Australia's 4,000 post 
offices, starting July 1. 

• Peregrine Investment Holdings Ltd. said it was launching an $80 million 
Indonesia investment fund. The fund will be placed in two tranches, it 
said, mainly to institutional investors. 

• Smrftomo Metal Industries Ltd. said it would reduce staff at its 
headquarters by 26 percent, to 1280 from 1,720, by March 1996 in an 
effort to save the company 15 billion yen ($145 million) 

• Isefan Ca of Japan said it had raised its pretax profit forecast for the 
year ending in March 1995, to 5.4 billion yen from 5.3 billion yen because 
of higher-than-expected earnings at the parent company. 

• Hitachi Ltd. said it developed a new static random access memory chip 
with 10 times the speed of the previous so-called SRAMs. 

• Perasahaan Otomobfl Naskmal Bhd_ Malaysia’s national car company, 
said pretax profit for (he year ended March 31 fell 9 percent from a year 
earlier, to 202.04 milli on ringgits ($80 million), despite a 35 percent 
increase in sales. The company said die strong yen had eroded its gains. 

• Japan's money supply in May grew 1.7 percent from a year earlier, after 
a revised 22 percent year-on-year rise in April the Bank of Japan said. 

Renters, Bloomberg, AFP, AFX 


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Saiurday-Sundav ; 
June 18-19, 1994 
Page 15 




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Sure Things, 
And Laws 
Of Finance 

T HERE arc few immutable rules In 
finan ce. But there are perhaps two, 
both of which are useful tools of 
aialysas in analyzing privatizations 
from the individual investor’s point of view. 
One is that there can be no profit without 
ocnmoicaisurate risk — a rough equation that 
has has betas unsuccessfully attacked from 
both profit and risk ends in recent years. The 
other — maybe more of an ironic aphorism 
than a rule — is that the s mall investor 
always does worse than the larger investor. 

The profit- to- risk equation was unsuccess- 
fully assaulted by the junk bond kings of the 
19S0& The research into smaller comp anies ' 
debt offerings was impressive. It was easy to 
be persuaded that higher yields could be 
achieved without significantly increasing the 
default rate. The sales pitch was simple: 
More profit for the same risk. 

Criminal activity made that market look 
better than it really was. As things stand, the 
jury is still out an the somewhat fragile junk 
bend market At present, it looks like the 
returns are there, but they are fully counter- 
balanced by risk. 

Then there were (and are) hedge funds. 
They made huge inroads into the investment 
market by offering good but not outstanding 
returns for considerably less risk. But less 
than what? Hedge funds have taken a terri- 
ble pounding (Iris year, demonstrating that 
their “absolute” returns are absolutely rela- 
tive. Again, the balance between profit and 
risk is undisturbed. 

Privatizations were supposed to alter the 
equation by offering a political guarantee of 
financial success. To an extent, that is true. 
But after the investor has absorbed a sweet 
offer price, the Jong-term future looks less 
certain. . . 

That has-been reflected in the perfor- 
mance of privatization funds, recommended 
in tins column as a good bet, winch per- 
formed well initially before falling back. 
However, they still look a reasonable hold. 


Profiting From Privatizations: Choose Well, Choose Wisely 0 


By Judith Rehak 

I TS no exaggeration to say that priva- 
tization fever is raging on a global 
scale. In Europe, the drive for efficien- 
cy is an, as companies move from 
government control into the public sector. In 
Latin America and the developing countries 
of the Pacific Rim, privatizations are fund- 
ing infrastructure expansion and playing a 
major role in developing fledgling stock mar- 
kets. 

Altogether, there are about $240 billion of 
privatization deals in the marketplace^ and 
that number will likely double in the next, 
three years, according to Mark Breedon, 
portfolio manager in London for the recent- 
ly launched $1.03 billion Alliance Global 
Privatization Fund. 

There are also many ways to play the 
privatization game. The Alliance fund aides 
the globe, allotting 60 percent of its portfolio 
to developed markets and 40 percent to 
emerging markets. “It's a nonrisk portfolio 
that doesn't depend on any one deal,” said 
Mr. Breedon. “We have 170 issues in 35 
countries, and more than 25 industry sub- 
sets." 

Two of its biggest country bets are Mexi- 
co, where it owns shares in such companies 
as Gropo Tribasa, a construction company, 
and Tehnex, the phone company; and 
France, where its holdings include Ugine, a 
maker of stainless steel, and Elf Aquitaine, 
the oil company. The fund also has big 
stakes in East' Japan Railway and Nippon 
Telegraph & Telephone. “We quite Eke Ja- 
pan, and for privatization, that’s the only 
way we can hold it,” said Mr. Breedon. “It's 
more a market decision.” 

A quite different approach is taken by the 
smaller Guinness Flight Global Privatisa- 
tion Fund, a British unit trust, which also has 
an offshore version. It has allocated only 10 
percent to e mer gi ng markets, and takes no 
stakes in companies before they go public. 

“We don't fed we have to take a big risk to 
generate a high reward for our investors,” 
said Andrew Couch, the portfolio manager. 
He has 65 percent of the fund’s assets in 
Europe, with a hefty 25 percent of that in 
such British companies as British Telecom 
and Scottish Hydro-Electric. On the Conti- 
nent, he particularly fikes the insurance sec- 
tor, such as IN A, Italy’s top life insurance 
company. 

“We’ve looked at the premiums per-capita 
in Italy,” he said, “and they’re very low 
relative to the UJL and the U.SL There's a lot 
of opportunity there," 

Some privatization fans are beating the 
dram for European financial stocks Eke Isti- 


Page 16 Latin American offerings 

Mexico's best k 

The retail route ^ 

Page 17 Africa enters the arena 

South Africa at the crossroads 
Where next in the world? 

Page f 9 European funds 
The American way 


tuto MobOarc Italiauo, the Italian financial 
services group, Basque Narionale de Paris, 
and UAP, toe French insurance company. 

At Mercury Asset Management, however, 
its new European Privatisation Trust has 64 
percent of its assets in cyclical and growth 
stocks, with only 24 peoent in financials. 
“The reason is that we're not overly optimis- 
tic on interest rates going much farther 
down, but we do see a resumption of eco- 
nomic activity in Europe." said Lough Calla- 
han. Managing Director of investment trusts 
at Mercury. “We see this as very much a 
stock-picking exercise with very tittle coun- 
try allocation. Our approach is very concen- 
trated. If we Eke cydicals, we don’t invest a 
little more, we invest a lot more. We have a 
very tight portfolio.” Among its holdings are 
British Petroleum; Total, the French oil 
company; Rolls-Royce; British Airways and 
KLM, the Dutch amine. 

Away from Europe, one of the most active 
areas of privatization, both now, and in the 
coming year, is Latin America. 

In Mexico, the assassination in March of 


the leading presidential candidate Luis Don- 
aldo Cdosio Murrieta, and tense negotia- 
tions with rebel groups in the southern state 
of Chiapas, has investors on edge, but not 
retreating. 

Brazil is a higher-risk story than Mexico. 
There is a deep ideological division regard- 
ing the privatization process between the 
two candidates for president in the October 
elections. Fernando Henri que Cardoso, the 
conservative candidate, wants to move 
ahead, while Luis Initio (Lula) da Silva, the 
candidate of the left, is strongly against the 
concept. 

“Lula would notprivatize the phone or the 
oil company, and rve been warned he could 
renationalize other companies,” said Ed 
Games, who runs the Brazil Fund and the 
Latin America Fund for the American mon- 
ey manager Scudder, Stevens & Clark. Mr. 
Games also noted that Brazil is different 
from other Latin American countries in that 
many companies, such as Vale do Rio Doce, 
the mining giant, and Telebras, the phone 
company, have a class of stock available to 
the public, even though they are govern- 
ment-controlled. 

“A lot or money has been made in Lhe 
Brazilian market without privatization,” he 
added. 

Another Latin America market where a 
massive privatization is just getting off the 
ground is Peru, where shares were recently 
offered in the telephone company, and in 
Cementos Lima, a leading cement producer. 
Mr. Gaines bought the cement company, but 
passed up the phone group. “It was the only 
country where we didn't buy the phone com- 





J; js? **: . -a. . .i. .... 


pany,” he said, noting that he thought the 
pricing was wrong, and that he had concerns 
as to bow tiie company would finance its 
ambitious plant expansions. 

Elsewhere in the world, no slowdown is in 
view in the rush of privatizations coming to 
market. Among them, a second try at Vide&h 
Sanchar Nigam Ltd, the Indian telecom- 
munications company, which foundered on 
its first offering earlier this year because of 
mispricing, and Qantas, ibe Australian air- 


Thc Nc* Y<xi Ttrao. 

tine. Eastern Europe and China are just 
getting under way, and privatization fever 
may even be hitting the United States, where 
Mayor Rudolph Giuliani of New York is 
reportedly looking at se&ing a city-owned 
luxury hotel, and an FM radio license. 


The Money Report is edited by 
Martin Baker 


A Convergence With the Emerging Market Funds 

W HAT’S in a name? Or, pul an- the first four months of 1994. A consequence usaaSy a key benchmark against which they end investment company, dob 
other way: What’s the differ- of this mass of international money charing will measure their perfroraance. Markets Investment Co. The ne 

ence between a privatization shares is that new stock such as privatizations And given that many governments sell at a invest in 32 markets — inchidi] 
fund and an ementine market in Asian markets are an almost automatic favnrahfe nrin» — a anrt nf financial hmxi Greece and Poland in Fnmw ft 


W HAT’S in a name? Or, pul an- 
other way: What’s the differ- 
ence between a privatization 
fund and an emoging market 
fund? The answer, often, is not much. 

Managers of auerging market funds are 
virtually forced into buying privatization 
stocks for two fundamental reasons. 

The first is a c ombinati on of international 
interest in emerg in g markets and a shortage 
of new stock. A Michael Upper, president of 
the nurtuaWond mcmiioring nnn Upper An- 
alytical Services, noted that UB. funds spe- 
cializing in the Arian region (excluding Ja- 
pan) — - the location of many emer ging 
markets — have acquired a net $3.8 billion in 


lhe first four months of 1994. A consequence 
of this mass of international money charing 
shares is that new stock such as privatizations 
in Asian markets are an almost automatic 
buy for fund managers. 

“If the current pace were maintain ed 
through all of this year, net flows into funds 
specializing in the Asian region would exreed 
$11 bfflion,” said Mr. Upper. 

Reason No. 2 is the index factor. In the 
smaller stock markets of emerg in g econo- 
mies, a government seQoff win almost cer- 
tainly form part of the stock market index. 
This effectively forces fund managers to buy 
the privatized stock, since the market index is 


usually a key b enchmar k against which they 
wfll measure their perfromance. 

And grven that many governments seD at a 
favorable price — a sort of financial bread 
and circuses — any fund manag er failing to 
buy would almost certainty be rmsring out on 
a gain that would be recorded in the perfor- 
mance of the stock index. So the pressure to 
buy a privatized stock, if it is anywhere near a 
reasonable price, is all but irresistible. 

So investors can be sure of exposure to a ' 
fair number of privatized stocks if they buy 
the latest emerging market vehicle to he 
launched on the international market. 

Foreign & Colonial Emerging Markets has 
just launched a Luxembourg-based closed- 


end investment company. Global Emerging 
Markets Investment Co. The new fund vriD 
invest in 32 markets — including Portugal, 
Greece and Poland in Europe, South Africa, 
Ghana and Morocco in Africa, South Korea, 
Taiwan and India in Aria, as well as the m»in 
Latin American markets. 

The fund has an initial charge of up to 5 
parent, annua! fees of 1.75 percent and a 
mmimum initial investment of $5,000. 

The fund’s administrators have applied for 
recognition of the fund by the leadmg U.K. 
regulator, the Securities and Investments 
Board. The managers expect recognition “ap- 
proxamatcly two months after the offer peri- 
od doses” on July 1. 




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' Pa ge 16 


nSTERNATIOlVAL HERALD TRIBUNE, 5ATURDAY-SUNDAY, JUNE. 18-19, 1994 . 


- «* 



Brazil’s Ripe for Privatization, but Neighbors May Not Soon Follow 


; 1 


By Aline SnUfran 

U nfinished business in 
Brazil may prove prof- 
itable business for in- 
r y L i- tornationai investors. 

winding on the outcome of this 

Spfai'i elections, there 
«uM be some attractive bargains 
slaic_nJn companies 
sold to the public. 

But investors in most of thr other 
Latin American countries may be 
m *, or a longer wait. Fund managers 
Md analysts caution that man y of 
“e larger countries have completed 
tne bulk of ibeir privaUzaiion pro- 
grams while the governments of the 
smaller countries wall sell their 
stakes in staie-run companies to 
other companies, rather than to the 
public. Shares in these companies 
may later become available to pri- 
vate investors, however. 

Brazil's is the biggest economy in 
Latin America and one of the Iasi 
bastions of state ownership. If the 


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Socialist candidate, Luis Inacio 
(Lula) da Silva, wins the elections 
dial begin in October, change is 
likely to be slow. But if the centrist 
coalition candidate, Fernando 
Henrique Cardoso, crosses the line 
fust, the privatization program that 
began under the now disgraced 
president Fernando Collor de 
Mello is likely to resume. 

“Evetyone is waiting for the elec- 
tions," said Phillipa A /milage, a 
fund manager at Robert Fleming & 
Co. in London. “If Cardozo wins 
the government will spend some 
time stabilizing the economy. Then 
the privatizations will Sian, proba- 
bly first with the electricity sector." 

The sale of Brazil's electricity 
sector and. later, the telecommuni- 
cations holding company Telebras 
and its subsidiaries, cotild be very 
appealing lo investors. 

"Some of these companies are 
tremendously attractive,*' said 
Eduardo Faria, director of tbe Lat- 
in America division at the London 
investment firm Foreign & Colo- 
nial Emerging Markets. "The gov- 
ernment is cleaning up their debts 
and they are becoming more effi- 
cient. Also, there is a lot of room 
for growth." 

That is just as well because good 
investment opportunities elsewhere 
in Latin America, while potentially 
plentiful, are some way from fru- 
ition. 

Peru has a program of five or six, 
companies coming through- but in 
the short term, mature in vestment 
opportunities are thin on the 
ground. In the more developed 
economies such as Mexico and, to a 
lesser extern, Chile, many of the 
choicest plums, including most of 
the state-run companies, have al- 
ready fallen. Analysts take care to 
emphasize the wide differences be- 
tween national economies, but the 
tone of many of their comments on 
the region in general is bearish. 

Even Chile, the darling of free- 


markel economists, is losing some 
of its luster. Most of the state- 
owned companies slated for priva- 
tization in Chile have been sold, 
culminating with the sale earlier 
this month of a 24 percent stake in 
the airline Lan Chile. 

Roger Palmer, head of the Latin 
American team at the stockbroker- 
age Klein won Benson in London, 
suggested that Chile might even be 
the victim of its own success. "In 


Even Chile, the 
darling of 
free-market 
economists, is 
losing some of its 
luster. 


the short term Chile has a question 
mark over it because the country is 
being forced to tackle its high infla- 
tion." 

He remains optimistic about 
Chfle'5 economy in the longer term, 
however. 

Venezuela is having a particular- 
ly tough time. Analysts and fund 
managers disagree whether tbe 
country’s struggling economy and 
depressed stock market will cause 
the government to dday sales of 
siate-owned assets. They agree, 
however, that if the government 
does go ahead, the sales are likely 
to be attractively priced. First off 
the starting blocks is likely to be 
CANTV, the national telephone 
company. 

Argentina is preparing For its 
second round of privatization as 
the government sells off its remain- 
ing corporate holdings following 
the sale of controlling slakes to 
industrial consortia. 


.Analysis say many of these sec- 
ond-segment sales could prove 
profitable because investors are 
able to buy into revitalized compa- 
nies. 

- The sale next month of the Ar- 
gentine gas distribution company, 
Transportadora de Gas del None, 
should be especially attractive, said 
Mr. Faria, because the gas market 
in .Argentina is growing rapidly. 

Also appealing to investors, he 
said, will be the sale of the govern- 
ment's remaining 30 percent stake 
in Y ad mien ios Petroliferos Fis- 
cades. the national oil company. 

■There is no indication yet when 
the YPF stake will be sold." said 
Mr. Faria. “So far it is just a rumor. 
But when it does happen it should 
be a good play on both the Argen- 
tine economy ’and the international 
oil market” 

Mr. Palmer agreed that the Ar- 
gentine sales would be attractive, 
saying that most of the investors in 
the initial privatization made mon- 
ey and that shares were likely to be 
keenly priced. “Also, foreign inves- 
tors like Argentina." he said. 

Apart from Venezuela, privatiza- 
tion in the other Andean Pact 
countries — Bolivia. Colombia, Ec- 
uador and Peru — will eventually 
offer interesting opportunities for 
private investors, largeN because 
they tend to be ignored by most 
institutional investors, said Ste- 
phan Rose of the London stoetbav 
kerage Stephan Rose & Partners. 

In Colombia, one area singled 
out as potentially of interest for 
privatization investors is the power 
sector. The country experienced a 
severe drought in 1992, after which 
the government introduced power 
rationing Tor more than a year. This 
experience highlighted two key fac- 
tors, according to a recent report 
from the International Finance 
Corp.. the investment banking arm 
of the World Bank: “First, the 





Source: Bloomberg 




country’s power supply was overly 
dependent oa hydro generation: 
and, second, at least ZOOQ mega- 
watts in additional capacity would 
be needed by the end of the de- 
cade." 

The Colombian government has 
decided to involve the private sec- 


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tor in creating tbe infrastructure 
that will meet those demands. New 
private funding is being encour- 
aged. and the Lntemaaona] Fi- 
nance Corp believes that further 
privatization is not out Of the ques- 
tion. 

The International Finance Corp. 


is currently advising the Colombi- 
an government on the privatization 
ct Hidoelfectrica de Betania, n 5 10- 
megawatt hydro-electric planL 
But private investors should be 
wary of risking too much in the 
smaller countries, said Klemworl 
Benson’s Mr. PaJmen “Investors 




Ipk-Ttutiurul H.TJW Tnhunr 

should look, first to the countries 
which have the.. most. attractive 
economies and then to die best sec- 
tors in those countries. Then look 
for cheap privatization. Tbe Ande- 
an Pact countries could .make you 
more 'inoiiey, ’but the risk is ywy 
high." ' : ’ 


Mexican Outlook Is Stable, Analysis Say 


' ! 3 

: i 


N O matter who wins the Mexican 
presidential election in August, 
the program of free-market eco- 
nomic reform, including the pri- 
vatization of state industry, should continue 
unobstructed, people who follow the market 
there say. 

The nominee of the Institutional Revolu- 
tionary Party, or PRI, which has never lost a 
presidential election, is Ernesto Zedillo, and 
he is widely expected to win. Under Mexico’s 
current leader. President Carlos Salinas de 
Gortari, who is constitutionally forbidden to 
seek another term, the ruling party estab- 
lished the vigorous economic reforms that 
have put much of the country's wealth into 
private hands. 

While Mr. Zedillo is a heavy favorite be- 
cause (he PRI has never lost, a dark-horse 
candidate, Diego Fernandez de Cevallos, has 
moved up suddenly in tbe pods after a stun- 
ning performance in a debate with Mr. Ze- 
dillo and the leftist candidate, Cuauhtemoc 
Cardenas. 

Mr, Cevallos is something of a capitalist 
populist. He drives his own car to campaign 
rallies, but it is a Mercedes. Should he win, 
Mr. Cevallos may pursue reform with even 
more zeal than the PRI. 


Elizabeth Morrissey, manag ing partner of 
KJeunan International Consultants, which ■ 
specdalizes^in emerging markets, notes that 
he has pledged to' rapidly open the Mexican 1 
banking sector to forcigntts instead t>fuak- u- 
mg the step-by-step approach of the PRI. He ■ 
also has [rone on record in favor of privatiz- 
ing the od industry, meaning the state mo- ; 
nopoly Petrdleos . Mexicanos, or Pemex,she 
said 

No matter who wins, then, the reform 
program will remain on track, Ms. Morrissey 
argued: “There’s not a whole lot that could 
be backtracked on now; a lot of it has been 
put into the constitution, Mexico’s gotten . 
over most or the hurdles on privatization. 
The main difference between any of these 
guys is how, in fact, they’re going to reinvig- 
orate (he economy and bow they re going to 
spread tbe wealth more widely." - 

Actually, Mexico has been so successful in 
its asset sales that there is not a lot left to 
privatize. Future issues are likdy lobe domi- 
nated by companies already privately 
owned, often by large wealthy families, ob- 
served Emily McLaughlin, who manages the 
Mexican portion of Foreign & Colonial's 
emerging markets portfolios. 

“If you look at the calendar of new issues 


criming to markeC 1 she said, “it’s about S2.5 
billion between naw.aad lhe end of the year 
m equity and debt," Tie issuers “are ^voting 
Torn continuation of a'slable econpimcpoU^ 
cytso (hey can put tins money to good ttseL 
She differed : ■ Womsser on Jte 

impact the election will have oh these Hew . 
issues. Even if the* leading hopefolsbold 
. similar opinions on econoaBb 1 matters, the 
election of Mr. ZetfiQo will soothe the invest- 
ment markets. she advised.' ; ‘ ;• - 
“Let’s not forget how : long the PRI has 
been- in power in Mexico,” tfhe said. “People 
take some comfort in that. It’s the devifyqu 
know versus the.devil you don’t." ~ . • 

- Speaking of. Mr. Cevallois and Iris asso- 
ciates,: Ms. McLaughlin added: “I “don’t 
. know their economic program. Zedjjlo has 
stated a 10-poml ectmomic 'OTOgraar when- 
ever speaking to party faithful so il’s dear 
where' he stands, but it’s riot dear wtoe 
Cevallos stands." . 

She pointed out; rhou^b. that after thrash- 
ing Mr. Zedillo in the irievised debate/ his 
challenger has seat his popularity subside. 
“You wul probably find most people relaxed 
that the PRI candidate is going to prevail 
That’s tite sentiment on Wall StieeL 

. Conradde AenBe 


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Investing: Fund, or Direct? 


By Barbara Wall 


I NTERNATIONAL inves- 
tors who have made the stra.- 
tegic derision (hat they like 
privatization stories still fare 
tactical problems: How do they 
make the most of these overseas 
investment opportunities? Do they 
buy a slice of one of the funds 
available, or da. they research, and. 
select stocks and then execute buy 
orders on their own initiative? 

“Most private investors are 
probably better off m a fund rather 
than investing directly in privatiza- 
tions," said a London-based 
spokesman for Kleinwort Benson, 
a company which offers a specialist 
privatization stock fund “It is 
complicated a ad often expensive 
for foreign investors to participate 
directly in global privatizations, 
and few investors have the time or 
resources to carry out a thorough 
analysis of each investment oppor- 
tunity. In addition, a managed 
fund reduces exposure toparticolar 
markets and therefore reduces 
risk." 

But the fund route will not suit 
everyone. Tbe few European 
dosed-aad open-ended funds that 


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target privatizations have opt . per- 
formed particularly wdL Some an- 
alysts say tins is because many in- 
vestors “sagged^ — sold early to 
realize a quickgam — atthe timed 
iss». .’ "• l '• ' : 

So i sophisticated private inves- 
tors may be prisuade&that the di- 
rect Toute offegnaier.investuient 
freedom, the opportunity to spe- 
cialize in particular sectors or iriar- 
kets and potentially higher invesir 
meat returns. While this may be 
true in some cases, investors should 
not underestimate the difficulties 
of dealing on international 

flhflnjyy. 

“One of the mam problems is 
pining access to T^onnation on 

an; .analyst with in? 
dqjendent British stock brokerage 
Hargreave, Hale&rGO,. 

“Whilst European privatizations . 
open to jnibljc offer are advertised ; 
in the financial press at least six 
weeks i^dor to todare of subscript 

tenuaffy- lnQrarive''p»?vaiizatton 
programs in Latin America, India 
and elsewhere is generally thin rin 
the ground. Many invistbrs only ' 
hear of these sales after the event" . 

Even within- the European 
Union, direct investors are likely: to 
encounter problems. Private ihves- 
: toes, are often precluded front, in- . 
vesting in privatizations as the cctst . 
of mounting public offers at hcane - 
and abroad, is prohibitively expen- 
sive and not wort& dje effort, unfess • 
the company.is very large. 

“Few privatizations have cross 
listings so investors will invariably 
have to deal on the exchange in the 
country of issue. To further compli- 
cate matters, before being allowed 
to boy shares,, foreign investors 
may be required to open a nonresi- 
dent bank account,". said Jeremy 
Bats tone, a research analyst with 
NatWest Stockbrokers in London. 

The rules and regulations relat- 
ing to_ privatizations are especially 
complicated and it is unlikely that a. 
Qoorestdem broker would be able 
to appreciate their subtleties and: 


underlying intentions, according to 
an industry analyst. This circuitous 
route inevitabhr involves two sets 
. of fees: to dje mendly load broker 
and to the informed domwtic tet>- 
kjer.who raayalsohaveto arrafige 
fOTCustiKtywthe share certificates. 

■ “Where the. number of; shares 
avsulable to private investors is 
. sm^I the cost of buying, holding 
and seeing these shaxes is often 

S ler than the profit made on the 
warns an investment analyst 
for Bardayshare, the brokerage 
arm of Barelaj-s Bank. “Investors 
should be looking at a minim um 
investment of around SSjOOO in any 

one privatization." - 

JimhBriTiprej.theleyel of permit- _ 

ted rcvestmemmay be scaled down^ 

if there are too many af^jlic^ions. 
For example,, applications for - 
dunes in the French banking giant, 
Banqtie Nationale de Rads, exceed- 
ed government expectations . and 
private investors were consequent- 
ly restricted to. buying a 
ca 40 : &ctf -for a tdtaFdf 
about S1 l500l' - . 

. Part of .theaftraction of Europe- 
an and glofeS- privatization 'funds 
lies in the fact that these funds tend 
to have better access to- investment 
opportunities in privatizations 
than private investors, and : the 
shares canVoften be bought at a 
discount l 1 . 

However^ the astute private in- 
vestor may be able to tap into the < 
institutional network and gain ac- 
cess.to privatization shares without 
having to invest in a fund. ' 
“U.K. stockbrokers boughilarge 
tranches of BT shares at the second 
and. third offering cm bdtalf of 
their British and foreign clients. As 
brokers are classed as institutional 
investors, they were able to get sig- 
nificantly higher share allocations 
than retail investors, at attractive 
discounts," commented an indus- 
try analysLThere-is no reason to 
suppose that UiL-approved bro- 
kers * 0£ any other broker for that 
matter, could not apply for Euro- 
pean privatization shares in the 
same manner." > f 


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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JUNE 18-19, 1994- 


Page 17 


THE MONEY REPORT 


A Reformed Africa 
Shrugs Off Legacy 
Of Socialist Years 


Infrastr ucture Privatizations in Developing CountrS 


vW»(nrnaiww 


■ Valwt 


1989 

Value 


. 1990\ : - 4 . 1991 ■ 1982- 

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1992 1989-1982 


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106 1 


$ 4.036. 

?. ' 20 


By Mkfaael D. McNicfcle 

S ocialism is dead. Long 

five, capitalism in the new 
Africa. For all of those 
who stffl view Africa as a 
bastion of radical nationalism and 
; far-left regimes, think ag ain In the 
last five years four countries have 
qpened new stock markets, nine 
others were already operating, and 
' more are on the way. 

Privatization is the key. Mono- 
' llthic state companies, which for 
. decades bled away what little life 
remained from the continent’s 
stagnant economies, are beginning 
- to be sold off, setting the stage for 
down-string, competition and po- 
. tential profits. And, while the 
* changes may dislocate workers in 
- the short lean, the reforms hold the 
* possibility of big gains in thelonger 
- term. 

Investing in Africa is not for the 
. faint-hearted. But those who have 
taken the time to do homework are 
finding there is money to be made 
there. 

Elizabeth Morrissey, manngm^ 

partner of Kleinian Inte rnational 

Consultants in Washington, said, 
“I think there’s vast potential be- 
. cause its basically been untapped 
to date.” Ms. Morrissey wrote m a 
recent report that of the 62 emerg- 
' mg markets tracked from January 
* to March 1994, “global interest rate 
and equity turbulence affected the 
'more mature emerging markets 
■ while double digit advances re- 
mained tbe nonn on lesser known 
‘ exchanges, notably in Central Eu- 
rope, the Maghreb and snb-Sara- 
, ban Africa.” 

Sbc continued, “The three North 
African markets extended last 
year’s strong performance, as local 
indexes rose m Egypt (+28 3 per- 
cent), Morocco (+17.5 percent) 
andTimisia(+18percent)onppti- 
ntism over economic improvement, 
privatization, and increased for- 
,.agn investor interest.” 

Observers note that privatiza- 
. lions, bice the one of Ashanti Gold 
Helds in Ghana, have done a lot to 
generate investor enthusiasm. Still, 
i skeptics might ask why, all of a 
sudden, is Africa ready to make 
real and substantial changes? 

John Taylor, a senior analyst 
with Morgan Grenfell in London, 
notes that the privatizations are 
coming about, in part, because of 


pressme from international lending 
agencies. At tbe same time, be 
adds, much of tbe reason for 
change is bong generated within 
African nations. 

-Basically, I think the biggest 
reason is realty the budget deficits. 
If one took an average,” he said, 
“of what Africa’s budget deficit is 

— this is before donor payments — 
you’re probably actually rations 
about between minus 9 to minus 15 
percent of GDP. And to be honest, 
the vast bulk of that is realty be- 
cause they’re actually having to 
carry all these lossmakers on their 





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Trend That’s Sweeping World 


By Rnperf Bruce the Thatcher government, the pri- 

vatizatioii program staned in 1980. 

I F Margaret Thatcher’s Bnt- a year after Mrs. Thatober’s gov- 
ain is remembered for noth- emment was elected, and contin- 
mg else, it will be remero- ued through the decade. First to go 
bered for pioneering the were NFC, the road haulage cotn- 
privauzation of state industries. pa ny; Aroersham International 
Variations on the British blueprints the health-care group, and British 


Driven by the determination of cannot finance the investment that 


ttcher government, the pri- key industries, like telecoms and 
on program staned in 1980. power, need, while the private sec- 
after Mrs. Thatcher's gov- tor can. 

t was elected, and coaim- Andrew Couch, manager of the 
Mjgb the decade. First to go Guinness Flight Global Privausa- 
FC, the road haulage com- tkm Fund based in Guernsey, con- 
Amersham International trasts the performances of British 




He added that the programs deal 
with interest rates; establishment of 
stock exchanges, capita] markets 
and encourage an early trend to- 
ward privatizations. 

Although the South African gov- 
ernment appears to have put priva- 
tization on bold for the moment, 
modi of the rest of the continent is 
moving in that direction. Justin 
Beckett, chief executive officer of 
New African Advisers, based in 
Durham, North Carolina, noted 
that “privatization is something 
that is part of a regional embrace of 
free market economies ” 

There seems to be a consensus 
emerging among African invest- 
ment experts that things have im- 
proved. John Niepold, portfolio 
manager of tbe Arlington, Virginia- 
based Africa Emerging Markets 
Fund, said: ‘'We see that there is a 
transition going an in Africa, that 
there’s definitely a move toward 
the private sector. Private enter- 
prise is being supported.” 

-There is an impression,” Mr. 
Niepold said, that investing in Afri- 
ca is “simply the flavor of the 
month. 

“Ilfs the next place to go because 
we ran out of places to go. There 
are substantive reasons to go.” 


^082 M 


Moreover, as the Cold War be- 
gan to recede, aid money to Africa 

became more vulnerable to cuts. By 
1990 , experts said, pressure from 
international organizations was al- 
ready moon ting. 

Donald E. Jones, a senior adviser 
with tbe Aidoo Group, a New Yoric 
investment banking firm specializ- 
ing in Africa, said that “donor 
agencies have encouraged African 
governments to undertake econom- 
ic structural adjustment pro- 


Source: WorkJ Bank 

Tbe African investment fund Egypt. Morocco, Mauritius, 2m- 
arena is growing rapidly, with four babwe and Tunisia. The remaining 


new funds established in the past 20 would go toward special situa- 
ejght months, and includes some dons. 

U J l er - J - _ • . 


highly respected names in the field. 
Marianne Hay, portfolio man- 


“Africa has suffered in the last 
10 or 12 years or so from the de- 


ader of Morgan Stanley Asset Man- dine in the prices of commodities,” Mr. Niepold added: “I think it's 
ageznent’s Africa Investment Fund Ms. Hay noted “By the time we important to differentiate the vari- 


y’f :ti« 


bamuaoaJ HcnM Tribune 

ghreb fund, is a play on tbe 
continent's second-largest market 
in Morocco (and also invests in 
Tunisia). A third seeks to take ad- 
vantage of the growth potential of 
the smaller markets. 

Mr. Niepold added: “I think it’s 


variations on tbe onusb blueprints the health-care group, and British 'Airways, a privatized airline, and 
for selling off nationalized indus- Aerospace among others. Then fol- Air France, still in government 
tries to prorate ownership are bong {owed the monster privatizations of hands, to illustrate how well priva- 
unpfemcmcd all ov er the wood — British Telecom; British Petro- tization works. Air France reported 
from Continental Europe to Com- kum, the oil giant: water and dee- a loss of more than SI billion in 


munist China by way of Latin mrity. 19 93. while British Airways has re- 

Amenca. And they show oo agn of During the decade, the British mained profitable throughout tbe 
letting up until wefl into the next Treasury, merchant banks, and ac- recession. 


t i UI 2f-' . , oountancy firms, built up an taper- The logic of numbers win moti- 

In this month alone, at least nine tise in preparing nationalized in- vate governments to privatize for 
state industries are up for sale, dustries for the private sector, and some time to come. Rodney Lord, 
They include: Cementos Lima, the selling shares in them to both the editor of Privatisation Interna ti on - 
Peruvian cement company*. Banco investing public and investment in- al guesses (hat more than $50 bil- 
Popu lar, the Colombian bank; sti rations. These days, the Treasury lion will be raised by privatizations 
PTT Nederland, tbe Dutch tele- advises governments around the in 1994. But he t hinks the dollar 
communications company and world on the pitfalls and advan- proceeds of privatizations may not 
post office; lNA, the Italian insur- rages of privatization. Tbe British p*w|t until tbe next century. 

Mce company; and Dongfang njercham banks are called in to do Privatization programs in the de- 
Electnc, the Chinese electricity the spade work and prepare the vdoped countries should carry on 


com P ax, J F - ... companies for market. at a strong rate until at least the end 

Just as nationalization of indus- According to a senior Treasury °f the century, according to Mr. 
try was fashionable during the official the motivation remains the Lord. And then there axe the Soviet 
1940s and 1950s, so it has now same whether in Britain. Latin Union and Eastern Europe, where 
become fashionable to undo the America, or anywhere dse. “1 think privatization has scarcely begun 
mischief done then. Governments tbe key motivation in almost all ^ whole economies are essential- 
have learned that the private sector countries is to improve the perfor- ly being privatized, not to speak of 
not toe public sector — is best at mance of the state and the indus- Latin America, Africa and Asia, 
running business. tries; particularly the key infra- 7*“? “ .8°°^ news for investors. 

The first privatizations were car- structure industries which are Privatizations have often proved 
tied out in the early 1980s. Turkey crucial to generating economic extremely good investments; both 
and Chile were among the first growth. This must be particularly ® the long and short terms, 
countries to cany them out, but it true of telecoms at the present One (rend that may disturb 


at a strong rate until at least the end 


describes their approach as 
African. She said that the fun 


ran- launched the fund, we didn't be- 
was lieve, probably, there was much 
per- downside left in commodities and 


currently weighted about 50 per- downside left in commodities and 
cent in South Africa, 30 percent in we could see signs of volume in- 
soveredgn debt across the con Li- creases in commodities." 
nent, and 20 percent in a combine- In the brief time tbe funds have 
tion of private placements and AJ- been around, three stategies have 


rican listed securities. She added 
that the weighting wfil change over 


;ed: Those with a significant 
ting in South Africa, which 


the next two years or so to be has a market capi talizati on 20 
roughly 35 percent in South Africa, times larger than all the other re- 
20 percent in sovereign debt, 25 gional markets combined. A sec- 
percent spread out in Botswana, ond bet, like the Framlingron Ma- 


ous Africa funds. Our fund is in- 
vested in the very small pre-emerg- 
ing markets.” and it is “much 
more” a regional fund. ”1 think 
that the prospects of the smaller 
markets at the moment are more 
attractive than they are in South 
Africa. 1 think in South Africa 
there’s definitely very positive 
things going on, but the valuations 
are not that cheap. The valuations, 
f think, are more attractive in the 
other markets.” 


countries to carry them out, but it true of teleco 
was Britain that pioneered the first time,” he said, 
mass privatization of state indus- In many a 
try. governments t 


in the long and short terms. 

One (rend that may disturb 
short-term investors is a significant 


Privatizations Aren’t High on Mandela’s Wish List 


J- ^. especially like the idea of privati- ager or Morgan Stanley’s Africa Investment 
zation for South African industry, have done Fund, said to explain the slock market’s 
little to dampen enthusiasm for investment forgiveness of Mr. Mandela’s comments. It 
in the country. Privatization had not been win happen, she said, when most of the 
expected for some time, students of Africa's country will be able to afford to buy shares in 
largest economy point out, and at least there state enterprises. “Probably investors see po- 
is no talk of nationalization. tential in the companies already available. 

In a speech last week, Mr. Mandela said without waiting for privatization issues.” 
that be was “not enthusiastic about privati- _ , . . 

zation” Mil that cerufa moots of th/ecouo- Tbe most arfy caiytdaua for ale down 

my would never be sold to private investors, ^njadare^edaancandlelecommunica- 
Tbcse include healifa care, miports and otber uoos uOtti^ Wbm Uiey are nnleashed m 


transportation businesses. 


the market “depends on the investment cli- 


“Priva tization is a form of maintaining ma^.on bow much cap^ expenditure 
apartheid because blacks do not have ih? «ne«W in these indttemes. Miss Hay said, 
money to take advantage of such schemes," ^ °. r reasonably 

press reports quoted Mr Mandela as saying. ^ a ** *■» 


The stock market took the comments in 
stride. Tbe two key indexes, of industrial and 
goto shares, were little changed tbe day of the 


Period those companies can be gotten ready 
or privatization.” 

Another possibility, said Fiona Tchen, a 


speech, and both have moved higher in tbe fund manager at Foreign & Colonial who 


week since. (South African fund launched. 
Page 19) 


buys shares in companies in sub-Saharan 
Africa, is SAFOL, a concern partially owned 


by (he government that converts coal into 
oil 

Ms. Tchen said economic reality may 
force authorities to sell state assets sooner 
than expected “It's not been touted as a 
major plank for the new government; it’s not 
like Latin America,” she said “On the other 
hand they’re in rather tight constraints, and 
there are plenty of good companies that 
could be privatized if they chose to go down 
that route.” 

“Since they re not so keen on doing it,” she 
added, “its unlikely to happen sooner rather 
than later, but they could do it if other fiscal 
measures aren’t effective. It’s pretty unlikely 
in *94, but possibly after that” 


What’s more important in the immediate 
future is not privatization, but the absence of 
a nationalization of assets, especially the 
gold and platinum mines that South Africa 
depends on for much of its revenue. Nation- 
alization would surely scare off foreign in- 
vestors, and Ms. Tchen said sbe doubted the Source: Btoombaig 
government would do it G de A. 


In many countries, he added, reduction in the price premium 
governments recognize that they over the issue price that privatiza- 
tion shares are going to on their 
-g • Bret day of dealing. According to 

1^ I 1£ j|- Mr. Couch's figures, the average 

B^IB I jB 3M. pramum in this year’s Continental 

European privatizations was just 3 
to 4 percent He calculates that the 
average premium for British priva- 
tization issues was 17 percent. 

As privatizations become better 
known, governments are pricing 
them much more tightly. 

^ A senior director at a British 
If merchant bank said: “The almo- 
H sphere is rather different from the 
** UJKL privatizations of tbe 1980s. 
Then there was clearly an dement 
of stimulation for popular share 
ownership reasons and issues were 
M priced to be attractive to the retail 
§ market" 

|| He added that in the last three 
months or so there has been an 
Sft dement of “new-issne fatigue” in 
Europe that has put the brakes on 

C hums. Mr. Couch maintains, 
ever, that tbe longer-term rea- 
p son for investing in privatizations 
remains. “The major benefits are 
the rationalization and investment 

and so on that goes on in the years 

** nbei B after privatization," he said. “That 

is what drives the share price.” 



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INVESCO Fund 
Performance Comparisons 


INVESCO 


EUROPEAN WARRANT FUND* 

(From 1st Jure, 1993 to 30th May, 1994J 



loo r - — " 


SO « » ■ * ■ ■ ‘ ^ 1 1 -50 o 

Jim SJ Aug Sup On New Ok 94 Peb Mar Apt May Jun c 

■INVESCO European Warrant Fund (U.S.S) + 100.57% 
■M5CI Europe (U.5.S) + 14.59% 

Source: Micropal. pHer-ie-oflcr. no income IU.S5) 


FUND OBJECTIVE 

To provide shareholders with capital growth from a highly geared 
investment in the European equity market through equity warrants. 


PREMIER SELECT 

GLOBAL EMERGING MARKETS FUND 

(From 1st June, 1993 to 30th May. 1994J 



50 1 ' 1 ■ 1 1 1 ’ . ‘ * ' ’ -50 E 

Jim Jut Aug Spp Oci Mo* Doc 94 F«b Mar Apr M*Y Jun 

- INVESCO PS Glob. Emerg. Mkts (U.S.S) + 3 1 .78% 
-MSCI World Index (U.S.J) + 7.79% 

Soiuc«: Mrcropal, no iricome fU S-5) 


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To achieve capital growth from investment in leading companies 
based in the emerging markets of the world. 

* Investors should note that equity warrants are a flighty geared 
form of investment and therefore are categorised as high rfsfc. 
Typically they should form no mor« than 1-2% of an overall 
balanced portfolio. 

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ASIA TIGER WARRANT FUND* 

(From 1st June, 1993 to 30th May, 1994) 



M 100 - o " 

A — n 

N , N 

c 50 — « — 1 — « — ' — 1 — 1 — I — 1 — 1 — «— — .50 G 
E J^iJul Aug 5«p OCt Nov Dsc 94 Fob Mar Apr May Jun E 

INVESCO Asia Tiger Warrant (U.S.S) + 94.47% 

MSCI Pacific ex Japan (U.S.$) + 30.36% 

Source; Mfcropal, offer- rtwiffe,, no income tU-S-5) 

FUND OBJECTIVE 

To achieve long-term capital growth from a highly geared portfolio 
of Asian equity warrants. 


EUROPEAN ENTERPRISE FUND 

(From 1st June, 1 993 to 30th May, 1994) 



Jul Aug Sop Oct Nov DOC 94 Fob M#r Apr May Jun E 

■ INVESCO PS Euro. Enterprise (U.5.S) + 24.57% 

■MSCI Europe (U.S.S) + 14.59% 

Source: Micropal, offer -to-ofW. no incoma IU.S.S) 


FUND OBJECTIVE 

To achieve long-term capital growth fro m investments in die smaller 
companies and special situations of any European Stock Market 

r To: Sales Support, 

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Page 18 


INTERNATIONAL HERALD TRIBUNE, SATURDAY -SUNDAY, JUNE 18-19, 1994 




ABC INVESTMENT & SERVICES CO (E.C.I 
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rt ABC Future* Fund LIB S 139.93 

mABC I domic Funa lE-Ci—S llitf 

m ABC Global Recoverr Fa — S 105J7 

ABN AMRO BANK. P.0. Ban TO. Amsterdam 


w Columbia Securing 


rt Tram Eurooe Fund FI. 
n Trans Europe Fund 5 — 
w Alrenla. 


.FI 


AIO FUND MANAGEMENT Ltd 
tf AIG Amer. Ea. Trust _—™S 
w A|C Botan’.KJ world Fd — -I 

o AiG Emery Mkis Bd Fa j 

KVAlG Eur ecu Fund PK Ecu 

iv AIG Euro Small Co Fd Pic J 

sr aig Eurooe Fd PI; s 

i* AIG Jason Fung _J 


\au 
m a 

4»Jj 

2«U0 


d AiGJoson Small Cos Fd. 
a aig Lotm America Fd Pic J 
» AiG Miltair rertCY Bd Fd PW 
i* AiG Sown East Asia Fd — S 
a huh Lite Fund Ecu 


0 UBZ EuroOeiimlrer Fund. Ecu 

tf UBZ LlquWllv Fund J J 

a UBZ Lieu Idltt Fund DM — DM 
tf UBZ Liquidity Fund Ecu — Ecu 

tf UBZ Liquidity Fund SF SF 

ALFRED BERG 

d Allred Beni Norder 1 

Alfred Bcra Star 
if For East S 


van 

lo&ans 

loom 

1219605 

1510514 

I264SIJ 

1204947 

>636 

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ti Global 

d Japan. 


J3M 


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a Norm America. 
d Switzerland— 
d U.K.. 


15748 
227 JS 
17163 
13*4840 
230.19 
11063 
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7*70 


ALPHA FUND MANAGEMENT, LTD 
48 Par.LO-Vlllc Rd, Hamilton, HM11 Bermuda 


it Alpha Asia Hedoe {June BJ-S 
m Alma Europe Fd IMav 3U.Ecu 
m Aland Futures Fd iMat 31) S 
m Alpha Glbl Pro Trad May 311 

iti Alpna GWdl Fd I Apr 30) s 

m Alpna hmkk Fd imcy 3i)_s 
m Alma Japan Spec (Apr MU 
m Alpha Latin Amer (Apr 301 2 
m Alpha PaaSic Fd IMav 31 ) J 
mAJanoSAM. 


mfiipna Sturt Fd (May 311 1 

inAlotic 5M-T FI* Inc/MavlIS 
m Alpha Tlnaale Fd IMat 3116 
m AlsnaWorfnlngtan IMav Jl) J 
mBuch-Aipna EurHdgMavSlEeu 
mGlobalrest Value iMov 31) 6 
* Hoisei Japan Fund — Y 


m Hemlsnnere Neuirol Mav IIS 

m Lol invest Vohie I May 31) i 

rr HidiAual Aurelia (Mot 3)1 J 
m Pact) RIM Pop BVI Jun 13 6 
qiRinaoen I nt'l Fund/ Mav 316 

mSwelnH Fd IMav 31) S 

m Solus Inll Fd IMav 31 1 1 

ARRAL ASSOCIATES LTD 
w Anal American Quanl Fd— S 
w Arral Asian Fund. 


13175 

25147 

20640 

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42146 

28641 

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mnrcrmarkol Funa. 


1162 

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m Class B 1 

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3135.00 

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DANK BRUSSELS LAMBERT (3*3) 547 207 


o EE>L Invesi America. 
d BEL invest Betakim- 
ti BBL invest Far Easl. 
d BBL invesi Asia. 


.BF 


d 9Bl invesi Latin Amer . 
a BBL Invest UK . 


ti BBL Renta Fd inll. 

if P' 


a Renta Cosn 5- Medium BEF BF 
a Rente Casn 5-wed fum DEM DM 
a Renia Cash 5-Medlum USD S 

d BBL (LI Inv Goldmines S 

d BBL tU Invest Eurooe LF 

d BBL (LI Inv Euro-lmmo LF 

d BBL (L) lnv«l World LF 

BANQUE BELOE ASSET MGMT FUND 
Snore Distributor Guernsey 0«l 72*614 


*1547 
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■v Dollar Zone Bd Fd (Slarv) Jl 

tvAsia Pacific Region Fd 5 

i v male Fund S 


tv Sterling Eauifv Fd ISicav I -i 

wStemna Bd Fa (Sicav) C 

BA.YQUE INDOSUEZ 

n Tne Oregon Funa Sicav S 

in Japan Gid Fd A (31/05/941-1 
m Jcoan Gid Fd B l3i/«t5/V4l-S 
mDual Fulurei Fd Cl A Unites 
m Dual Futures Fd CJ C UnllsJI 
m Maxima Ful. FJSer. I Cl. At 
m Maxima Fu.\ rd Ser. I Cl. BS 
mWailmo Fut. Fa Ser. 2 CL CS 
m Maxima Ful. Fd Ser. 2 Ci DS 
m maesue: Curr. Cl A Units— J 
rr. indcsuK Curr. □ E Unlit — I 
tlPNA-3 * 


tin 

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d Indasuez Korea Fund S 

h Shanonai Fund. 


» HlmaUvon Fund. 
# Manila Fund. 


w Malacca Fund, 
n Siam Fund. 


a tncasuez Hons Kang Fund-S 

d Oriental Venture Trust S 

d North American Trust— S 

O Slogan & Watav Trust S 

C Pocmc Trust HKJ 


d Tosmcn Fund, 
d Jcocn Fund. 


wMcrcged Trust. 


d Gonmore Jodcti warrant _S 
» msesuez High rid Bd Fd A 4 
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9165 

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2942 
1843 
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ivhtoJ F rate* 95. 


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e indesusz Latin America 


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91*8340 
5110.48 
502043 
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BARQUE SCANDINAVE EN SU15SE-GEHEVA 

w Intelbond Cht SF 7S42 

w inlettec CM —SF 21646 


w Swlniund CM 
BANQUE SCS 


16674 


ALLIANCE-CREDIT BANK- 

(6122) 2M-I2B1, Geoevo 
tv pwode North Am EaulDetJS 
w Pleiode Europe Eauliles — Ecu 
•v Piofade Asia Pocfffc Eo — S 
w Pkiade Environment Em — S 

.rPieiade Dollar Bands 4 

wPieiade ECU Bands Eon 

wPleiade FF Sands .f F 

i* Pislade Euro Conv Bonds— SF 

w Pleiode Dollar Reserve 1 

tv Pleiode ECU Reserve Ecu 

wPleWde SF Reserve 5F 

w Pleiode FF Reserve f f 


HUM 

130.19 

94.14 

9373 

98.16 

105-30 

10477 

91.18 

10073 

1D346 

10139 

10136 


BARCLAY5 IlfTL FUND MANAGERS 
Many Feng. Tel: (8521 8261900 

i Chine (PRC; — — 1 i.l$9 

0 HCP2.*.criB -5 31472 

a indcnfjln 5 HIM 

q J»cn 4 10346 

d Fared S 12479 

d Malania S 2*5*5 

d PnniPHlnes 4 VM 

d Slrtyapore S 1831* 

a Thailand S 36483 

ti South East Asia . % 33435 


BARING INTL FD MANGRS (IRELAND) LTD 
(SIB RECOGNIZED) 

IFSC HSE.Cuslom Hse DOCksJTUb. 44714216000 

wHIgh rieMBond 2 1027 

v. WoHC Bond FFR FF S4A4 


BASINS INTL FD MNGRS (IRELAND) LTD 
(NON SIB RECOGNIZED) 
w Augroltg.. 3 


» Josan Teomafoav . 
w Jaaan Fund. 


w Japan New General Ion. 
w Mala«la & SMaapore- 
* North America——. 


w oomn Fund . 


rfPcdllc Fund. 


n interna rtanai Bend . 
w Eurcoa Fund. 


iv Hong Kang. 


w Trtstar Worrwrt. 


vr Global Emerging Mkts. 
w Ldlln America. 


ivCurrencY Fund. 


w Currency Fund Manned _J 
Korea Fund 8 


w Baring Emerg world Fd — S 
ADD GROUP OF FUNDS 

w 3DD USS Cash Fund 1 

ivBDD Encash Fund Ecu 

wBDD Swiss Franc Cosh SF 

m BDD Ini. Bond Fund-USS — S 
w BDD int. Bond Fund-Ecu— Ecu 
n BDD N American Eaullv Fd* 
w BDD European Equity FundEcu 
mBDD Aslan Eaultv Fund — I 
.11 BDD US Small Cop Fund -4 
w Euraflnanctere Fined Inc — FF 

w Eurolbi MulU-CvBdFd. FF 

BELIHVESTMOMT (OSY) LTD 
BdbfWJSt-Brazll S 


5353.95 

612822 

50592S 

526681 

474224 

490072 

597*88 

146429 

1038.78 

10*71.53 

917145 


nr Bellnvest-Glarxjl- 


iv BWlnvest-Uiaei. 


w Beiinvesf-Muliibond- 
w Bellnvrst-Superlor. 


BNP LUXEMBOURG 
INTER CASH 

t Franca Manalalre 

i France Securlte. 
t Inter Casnf 
I inter Cash Ecv- 


171641 

937.16 

66923 

90645 

91570 


f Inter Cosh GBP. 
7 Idler Cash USD- 
inler Cash Yen. 


INTER MULTI INVESTMENT 
iv Privatisations IMI Invest — S 
trTeWcom Invest. 


1*84245 

1774380 

276429 

1929* 

1485.10 

124623 

164979 


INTER OPTIMUM 



t 











INTER STRATEGIC 





nr Europe do Centre — — 

OM 





4; 


. -S 


140149 

18490600 

294184 

1332.93 

1495143 

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TOS UNIVERSAL FUND SICAV 

d Eunosec ECU A (Dlv) Ecu 

a Eurosec ECU B (Cop) Ecu 

if inleisec USD A (Dhr) S 

a im oboe USD B (Can) — — S 

d udelband USD A f Dh/l S 

d ltd el bond USD 8 <Capl S 

d Flrmsec Gtabat FM A (Dhr) FM 
a Rmsec Global FM B (Cool FM 

d inlelbond FRF A (Dh/l FF 

d I Mol band FRF B (Cap) FF 

d Far East USD A (DM— S 
d Far East USD B (Cap) S 

d JaponJPYAfDlvl— — Y 

d Japan JPY B (Can) — Y 

d Parsec FRF B (Cop) — — FF 


131226 

110W.J5 

121*70 

279942 

99777 

123954 

15707 

161940 

347.11 


d Latin America USD A (DMl 
a Lol In America USD B ICaPlS 
d North America U5D A (DfvlS 
d Norm Amer USD B (Can)— S 
d AIM USD A (DM 2 


1364*64 

1374611 

21.080* 

227694 

154654 

192678 

2314403 

23*8049 

1088699 

U1J390 

268222 

26BS94 

11992790 

11992*0 

1165376 

222154 

222154 

165991 

165996 

10.0074 


d Ana USD B I Cod) . 


a world uso a idivi 
d World USOSlCwi 


Ifl 0074 
98752 
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BUCHANAN FUND LIMITED 
rt Ban*, ot Bermuda Lid: (»*) 2*5-4000 

I WoOal Hedge USD i 

t GMCai Hedge GBP J 

l European & Attaniic f 

I Pacific US 

r Emerging Mark eis 5 .«-r7 


caisse cents ale des banques pop. 


ADVERTISEMENT' 





June 17, 19S4 


INTERNATIONAL FUNDS 


Quotations supplied by fund* lirtmL Net a*~t vnlm, quotation. — by tt. Fund. twi ce WiM f i W • BWfltWT ' 

Tho marginal symbols iMfiurte frequency at queutiana supolM* H) - *09! 1*1 • waeUy; (b) ■ U^ncntfaiyi PI terthtfuUy i mr t 


iv cWiiracr Amw w« Fd. 


a Frucniux - Obi. F54» * rF 

d FruOlluv-Dai EuraB— — Eai 
m Fruoilui • Actions Fits C„PF 
0 Fmctlhi*- ActMns Euro p -Ecu 
d Fruaihi* - Court Terme E_FF 

a FructUui-DMorh F —DM 

CALLANDER 

w Callander Emer.Growin — S 

wCnlhmaer F- Asset 5 

w Cm lander F-Auslriun Ai 

IV CoINmoer F-Saonisn— — — f lo 
w CuHander f-us Hedtn Corel 
nrCaUcnoer Swiss Growth — _SF 
CAMPBELL (BERMUDA) LTD 
Glbl institutional (3 June) -I 


8*77.13 
150*81 
J737 07 
173685 
MUi 
10SJ.U 


Him 
1*5 m 
I 2»»'i 
9II10C- 
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IS4.13 


SHIUi 
7iB0 
2825 
2422 
11606 
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39.32 
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1749 - 

I486 

10*87 

34.91 

1384 

1485 

1643 

5054 

8.94 

0.965 


CANADIAN INTEHNATIONALGROUP 
a Cl Canadian Growth Fd— CS 

d Cl North American Fa lJ 

d Cl Pacific Fund— CS 

d Cl Global Fund CS 


854 83 


d CI imerg Merten Fd CS 

a Cl European Fund —CJ 

d Canada Guar. Mori gege FdCS 
CAPITAL INTERNATIONAL 
w Capital fnVI Fund, s 


6J1 

t.*7 

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1141 


wCanllal irona »_ 


il: *< 
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CDC INTERNATIONAL 
*r CEP Cwrt Terme — 
w DPI Long Terme 


174841*1 

151728540 


s.74 

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CHEMICAL IRELAND FUNS ADMINISiRA- 
TORS LTD 
353-1 44 13 433 

iv Korea 2 1 SI Cenrurv Iron s 

m The Yellow Sea fm/t Co 5 

CINDAM BRAZIL FUND 

6 Clrtcam Eauifv Fund s 

d Clnaom Balanced Funa — 3 . 

CITIBANK (LUXEMBOURG) SJL 
PQB 1373 LurefWOourg Tsf. 477 95 > I 

ti OIM vest Global Band 1 

a annvesr fgp usd J. 

a aimvey fgp ecu. ecu 

d Gtinvesf Selector S 


127.6036 

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d ailcurrendesuSD. 


d CltlcurrencieiDEM DM 

d Clilci/rrercim. GBP c 

tf ailcurrencifi Yen r 

d Cltlporl NA Eaultv 5 


d CHIPOrt Coni. Euro Eaultv-Ecu 
a Clllaart UK Ew/ihr- 


d CHioon French EaulN FF 

d Clllparf Berman BauitY DM 

0 attoort Japan Eoul!' J 

d Cllloort I APEC. J 

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97Jo 
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d Cinport rtA I Bane s 

d attoort Euro Band Ecu 

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CITIBANK (PARIS) SJL 

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CITITRUST 
iv USS Emilies. 


512180 

Ui.!.* 

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15886 

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w Ermluw 6mer Men FJL_ i 
EUROPA FUNDS LIMITED 


555 

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rr Allan Eaullr e d > 

m European Emiiv Fa — — 1 
EVEREST CAPITAL IBM) 277 Dtt 
m Everest Cental inti Ud— S 


26124 
lo’TB 
i;- 1* 

ns >: 


1^*1 


FIDELrTY INTL IhV.SEPVlCES ILu»l 


d Olwevsr’' Funa - 


3 Far East Fund. 


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d FI A <.mer “iirl * 

d Fid. Amer. Values K’ — 
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ti GlcDel Jna Fans — 

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d Special Growt" <-und S 

C svorld Fitvl 


202 : 

8617 

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FINMANAGEMENT SA-Lugor6(4Wi/2TOI2| 
n Delia Orertlluir Core __S l«SW 
FOKUS BANK AS. 477 *73 555 
* Scanfc""J5 ini I Fd 
FOREIGN & COLONIAL EMEUS MKTS LTD 
T*t : London (PI *28 1234 
d Araeniinhm Invest Co SlcavS 
c Bnuillcn invest Co Sicav— S 
d Columbian invest Co Sicav J 
d Indian invesi CaS'cov— — A 
d Laim Amer E>irn Yield Fd S 
ti Latm America Income Co— J 
ti Latin Amw'can Invest Co— S 
3 Mevtscn invesi Co Sicav _> 

d Peruvian irr»ew Co SKnv_S 

FUNS MARKETING GROUP (BID) 

P.Q. Bsv 2001. Hamtllon. Bermuda 
/nrMG GICOTl 13' IVQ») 1 

mFMG N. Amer. (51 Mo*rl — S 

mFMG EuroAe (3» Mav I S 

niFMG EMG MKT (21 Mavl.S 
nFMG C (31 Mav] J 


25.95 
2B.*4 
10.71 
I1J 
1U4T 
9.9B 
ID. *8 
38J9 
15-27 


FX CONCEPTS ISERMUDA) LTD 

» Ccnccuts Fartz Fund 5 

GAIA CURRENCY FUNDS 
•v Gala Meagc II i 


12J7 
10.47 
1052 
11.97 
9 45 


10 00 


a Coin Hcdve III 


iv Gala Swiss Franc Fa.. 
ni GAIA Fa. 


_S 

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-i 

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in Galo Guoranieed Cl i 

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GARTMORc INDOSUEZ FUNDS 16/06794 
Tel: 1 112 1 *6 54 2* 470 
Fa« . 1357) 46 5*23 
BOND PORTFOLIOS 

J DEM Bund Dii 5A3 CM 

a Dlvcracnc DII 16’ 5F 


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12-44 

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E-3UIT r PORTFOLIOS 

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er 

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d Cc-ntmcnloi Ewunc. 


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e mlerrcllonul 

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CONCEPT FUNG 

b WAM Global Hedge Fa S 

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CONCERTO LIMITED 

w NAV 31 MOV 1994 S_ 

COWEN ASSET MANAGEMENT 
Cawen Enterprise Fund N.v. 

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a Dollar Dio 2.0*3 1 

d French Franc. FF 

a lr.P( servo 3 


0)3 
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CREDIT AGRICOLE 
INDEXIS 

ti liKML-lsUSAJSftP 500— 
d indent Japan/ Nikkei — 
d indens G Brei/FTSE — 
a lnd*>ii Frcnee/CAi. 40. 

d indeils CT — — 

MONAX/S 


GEFINOR FUNDS 
La«vi3.n:71-i9*4i i r-eneva:*‘-^n5 5f JO 

a Scollhh k'/CirlC Fund 1 **;•*> 

w Sidle St. American. 


1861 
191444 
ll«S 
1*2*3 
11 s.24 


GENESEE FUND Ltd 
» 14! Geneve Eogie. 


a Court Terme USD. 


d Court Term* DEM dm 

a Court Terme JP r Y 

d Cflurt Term? GE C : 

d Court Terme FRF FF 

d Court Terme ESP O, o 

d Court Terme ECU —Ecu 

MOSAIS 


1SJ8 

3£90 

rj70C4 

li?7 

137*7 

79*6.43 

l?.*l 


. IBI Geneaee inert -S 

rr 1C) C-cwut GsDcrun-'- — : 

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GEO LOCOS 

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li Fertile Bono B — SF 


142*4 

70.73 

15718 

1*3.25 


GLOBAL ASSET MANAGEMENT 
I OFFSrCFE F'.'NDS 
1 1 Alhul S'-DavahK-l ei Man i*-e.4-<-60D7 


106.' 83 
1429JJ9 


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d Actions Nurd - a Twieuines Jt 

d Actions JoaonalsH y 

3 Actions Angkiises. 


d Acr lens Ahemcnces- 
d Actions Franc3i5/rs~ 
a Arttons Ess. & Port- 
d Actions Hoik 


ti Aclians Bassin Pocfioue. 
ti Obllg Inti Diverslllees — 
d Obllg Nora-Americaines- 
a Obllg japanolMU 


ti Obllg Ang 10*5*1. 


d OOHa Aiieroanaes. 
d Obllg Froncslses. 


e Obllg E». A Port— 


d Obllg Convert, intern — 

a Court Terme Ecu 

a Court Terme USD. 


..DM 

_FF 

_p.c 


.FF 

-Ecu 


d Court Terme FRF — FF 

CREDIT COMMERCIAL DE FRANCE 


125 Jl 

1966.17 
1334 
2° 64 
139.16 
3674.1* 
75844.0* 
358* 
!!«.95 
IBS* 
732238 
I3JI 
3*31 
147 83 

7*36-9 

147.90 

21.98 

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d EIvseesMonetnlre- 


d Sam Adlcash USD B. 
CREDIT SUISSE 
d CSF Banos. 


90K7J1 

H06S* 


ti Bond Valor Swt- 


d Bond Valor US - Dollar _ 
a Band Valor D-Morfc — 
tf Bond valor Yen. 


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I 

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-Y 
— ( 

SF 


d Band Valor (Sterling 
d Convert Valor Swf — 
d Convert Valor US - Donor _S 
ti Convert valor I Sterling — t 

d CSF International SF 

d Adlans Sulsses — . — — — SF 


d Credh SmlHMW Can SwilzISF 
Cf Eumoa Vator. SF 


d Enargle- Valor. 


d Pocitle- valor. 


SF 


d CS Cold volt 

Fund. 


■ Tiger I 


i Ecu Band A. 
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■ Gulden Bond A. 
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i Hboano IDerta Fd A Pto 

i Hhnana Iheric Fa 3 — Pta 
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d CS Europe Bond A_ 


d CSEuropoBonoB. 


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_DM 


d C5 Fixed I SF 7". l/*» SF 

tf CS Fixed I DM a% 1/96— DM 
tf CS Fixed l Ecu B 3/4% l/«*-Ecu 

tf CS Swfcn Franc Bond A 5F 

tf C5 Swtis Front Sana 3 SF 

d CS Bond M Ur* A/B -Lit 

d CS Band Fa Pesetas a.'B— »! a* 

d CS Germany Fund A DM 

ti CS Germany Fund B DM 

a CS Euro Blue Olios A DM 

d CS Euro Blue Chips B— —DM 

d CS Short-T. Bond 5 A — s 

d CS Short-T. Band s B — — s 

d CS Short-T. Band DM A DV. 

tf CS Short-T. Band DM 6 DM 

tf CS Money r/crVel Fd I S 

tf CS Money Market Fd CM — DV 

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tf CSOekfr Protec A. 


d CS OetcaF’rolec B . 


d CS Narth-Amerlcon A . 
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ti CS UK Fund A 

ti C3UK FundB. 


-DM 


tf CS France Fund A. 
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ti CS Holy Fund A. 
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tf CS Nathertands Fd A_ 
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CURSITOR FUND 

ti Cursltar Em) Asian Eq S 

tf Cursltar Glbl Gwth Sub-Fd_» 
DARIER HE NTS CM GROUP 
Tel 41-22 708 68 37 

tf DH Malar Markets Fund SF 

tf DH Mandarin PorrftHto 5F 

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w MuHtcurr, Bond SF 

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DRESDNER INTL MGMT SERVICE5 
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DUBIN A SWIECA ASSET MANAGEMENT 
Tel : (809) MS WO Fax : (809l 945 1488 
b HtohbrWge Capital Cora — s 1199654 

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1-3 Saale SL St HHtor 


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ti capital * 219£; 

ti Income ■ — S 15202 


GLOBAL CAPITAL MANAGEMENT LTD 
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9488 


nr GS World Bond Fund — 

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GS EQUITY FUNDS 5ICAV 
w GS Eure Small Cop Pori — DM 
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980 

123882 

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97 J3 
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1080 


115*87 ' 


0.973 

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n Granite CapHcJ Equity S 

Hr Granite Capital Mhl Neutrals 
w Granite Canhal Mortgage— S .. . . 

GT ASSET MANAGEMENT (IRELAND) LTD 
Tol : (441 71 -71045 47 

tf GT Asean rd A Shares 5 

tf GT Asean Fd B Shares 5 

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a GT Asia Funa B Snares s 

d GT Aslcn Small Camp A Sh-I 
ti GT Askm Small Comp BShA 
d GT Aurtralla FO A Shcrcs_s 
tf GT Austrollc Fd B Shares-S 

0 GT Austr. Small Ca A Sh S 

tf GT Ausr. Small Co B Sh — S 
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d GT Bond Fd A Snores 1 

d GT Bond Fd B Shares S 

d GT Bin & Ap Sciences a Sn_i 
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tf GT Dollar Fund A Sh 5 

tf GT Dollar Fund B Sh 5 

tf GT Emerging MKts A Sh S 

a GT Emerging MhrsB5h — s 
a GT Em MM Small Co A Sh J 
tf GT Em MM Small Co B Sh -S 
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iv GT JopOTC Stacks Fd ASM 
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iv GT Jon Small Co Fd A So —5 
iv GT Jap Small Ca Fd B Sh — 5 

w G.T. Lolln America Fd 5 

tf GT Strategic Bd Fd A Sh 5 

tf GT Strategic 3d Fd B 5h_S 
d GT Telecomm. Fd A Shares* 
tf GT Telecomm. Fd B SharesS 
r GT Tcchnotagv Fund A Sh-S 
r GT Technotaav Fund a Sh-S 
GT MANAGEMENT PLC (44 71 71*45 87] 
d G.T. Bloertii Health Fund-S 2083 

tf G.T. Deutschland Fund I 1258 

tf &T. Europe Fund S 4985 

•G.T. Gh*al Small Co Fd ! 3080 

tf G.T. invesimenl Fund — s 25JJ 

vG.T. Korea Fund . 8 547 

w G.T. Newly ind Countr Fd-i 6381 

w G.T. US Small Companies— 5 7481 


77.11 

77.72 

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INTERNATIONAL INCOME FUND 
tf Lons Term . 4 


tf Long Term ■ dmk. 

ERMITAOE LUX (3040198) 
w Enrttage Inter Rate Siret -DM 
w Ermhage Seu Fund. 


318812 
104 7006 


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iv Ermltage Em Hedge Fd -DM 
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6383 

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GUERNSEY CAPITAL MANAGEMENT LTD 

f GCM Global SeL Eq. > 10786 

GUINNESS FLIGHT FD MNGRS (Gusev) LM 
GUINNESS FLIWT GLBL STRATEGY FD 

tf Managed Currency S 1980 

tf Global Bond ■ 8 3X38 

ti Global Hlah Income Band_S 2287 

tf Gill Ac Sand C 1067 

tf Euyg High Ini. Bond c 21.99 

tf GlcflOl Eculfv S 9183 

tf Amencon Blue Chip i 2780 


tf Japan ana Pacilic. 
ti UK. 


a Eurooean. 
GUINNESS FLIGH 


1B.40 

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ti Doutscheroarv DM 89392 

tf US Dciiar Mom> S 3X528 

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HA5ENBICHLER ASSET MANGT GeilMH. 

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HEPTAGON FUND NY (5F99-41SSJS1 

I HeatOtnnQLB Fund. S 

m Meolooar CMO Fund SNA 

HERMES ASSET MANAGEMENT LTD 
Bermuda: 1 609 1395 4000. Luv:'3S2l404 64 61 
EsiimgtM Prices 
m Hermes Eurooean Fur*j — Ecu 
m Hermes North American FaS 

m Hermes Alien Fund — -5 

n Hermes E mery Mvr» Funa J 
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m Hermes Neutral Fund——* 

m Hermes Global Fund S 

m Hermes Bond Fund Ecu 

m Hermes Sieriina Fo c 

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w Aston Flied income Fd 5 10.408 

INTERIN VEST I BE RMUDA1 LTD 
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m Hedge Hog A Conserve FO -5 
INTERNATIONAL ASSETS FUND 
L M ftovol. L-2449 LuMinbOun 
n Europe Svd — Ecu 


341.32 

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d Amerkwe cu Norf S 

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i Extreme Dnenr Anglosa*onA5 100J6 

a France FF 50193 

d Itallr L« 

tf Zone Aiiclique 1 1003180 


IHVeSCO INTL LTD, FOB 271. JWMT 

Tel: 44 534 72114 

tf Minimum income Fund— i 

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a Pioneer Markets 


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ti JF Japan 5m. Cc Tr — 
d JF Jcpcn Trust. 


tf jf Maiarata Iras' 
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JOHN GOVETT MANT (f.OJWJ LTD 
Tel **824 - 67 94 20 

w Gover von. Futures 

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JF 


tf Gerrnan Stock Funa. 


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tf ECU Cash Funo. 


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.Ecu 


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KEY ASSET MANAGEMENT INC 
at Kev Global Heace- 


m<w Hedoe Funo me 
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mKi Asks Podtic Fd Lid. 
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MANAGEMENT INC 


b mu 
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0 Aslan Droaon Farr nv A — S 
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d Global Advisors ll NV B — S 
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LIPPO INVESTMENTS 
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rt Aslan C-rawtn Fund. 


LLOYDS BANK INTL (BAHAMAS) Lid 
Llovds Americas Pcrtttfio r£09i 377-071 1 
w Balanced Moderate Risk PCS 
LOMBARD, 09IER SCI E- GROUP 
OBLIFLEX LTD (Cl) 

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1541 

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13.16 

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118* 

0 HY Euro Curr Di»W Pay 

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1143 

tf Swtu Multicurrency 

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1661 

tf Eurooean Currency 

— Ecu 

2247 

tf Belgian Franc 

— BF 

13673 

tf Convertible ...... 

— S 

15.05 

tf French Franc 

_ FF 

15736 

a Swiss Multi-Dlvideiw SF 

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tf Swiss Franc 5hort-Term— 5F 

10741 

d Conodkn Dollar 

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1118 

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tf MedtierroneonCurr 

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0 Convertibles... - .... . ..., 

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MALABAR CAP MGMT [Bermuda) LTD 


mMolobor inn Funa. 


MAN INTERNATIONAL FUTURES 

mMlnt LlmHnl - Ordinary l 

in Mim Limited - Income —. A 
171 Mint Gid Ltd - Spec Issue— 3 

mMlnt Gid Lid - Nov *002 S 

mMlnt GM Ltd -Dec 1994 s 

mMlnt Gtd Lid - Aug 1995 5 

mMlnt Gtd Currencies 5 

mMlnt Gtd Currencies 2001 S 

mMlnt So Rn Ltd (BNP) 1 

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m Athena Gtd Currencies s 

m Athena Gtd Financials Inc-S 
m Athene Gtd Financials Cap J 

m AHL Capital Mkis Fd J 

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mAHL Gtd Real Time Trd 5 

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w Asia Pac Growth Fd N.v.— 1 

w Asian Capital Holdings s 

m Aslan selection Fa n.v Fl 

w DP Amer. Growth Fd N.v,_s 

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w TofciQ Poc. HOta N.V. 

MERRILL LYNCH 

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MERRILL LYNCH SHORT-TERM 
WORLD INCOME PORTFOLIO 

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AUSTRALIAN DOLLAR PORTFOLIO 
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d Cotecorv 9 


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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JUNE 18-19, 1994 


Page 19 * 



In Europe, the Market Is Overflowing With Privatization Issues 





By Thomas Cramptan 


E 


pnvatiza- 

' tobea 


Source: MtcropaJ 


ImrntfDonal Hexald Tribune 


UROPEAN 
boa was su 

great party for investors, 
but, at least for the mo- 
ment, the guests seem to be suffer- 
ing mild indigestion. 

In the beginning, thin gs wotted. 
The privatization of Basque Na- 
tional de Paris in October 1993 
was oversubscribed five rimes, and 
the shares soon rose to nearly 300 
francs each, more than 20 percent 
over the offer price. 

Now, however, BNPs stock has 
come down dose to its offer price 
of 240 francs. Subsequent French 
privatizations have had results that 
are similar, or worse. Rhdne Pou- 
lenc, the chemical and pharmaceu- 
ticals company, currently trades at 
131.80 francs, 2.4 percent below its 
I3S franc offer price, and even 
shares of Union des Assurances de 
Paris, the latest privatization, have 
already dropped to 146.60 francs, 
down 5 francs from the initial offer 
price in April of 132 francs a share. 

In Italy and Spain the situation 
looks the same: Although more 
than nine-and-a-half iiw>* over- 
subscribed, investors who bought 
Baaca Commerciale Italians in ear- 
ly March cashed their shares in on 
March 17, causing the price to fall 
5.4 percent in a morning. The stock 
price never fully recovered. The 
stock currently trades at 5,080 lire 
($3.17) a share, down 6 percent 
front hs initial price of 5,400 lire. 

Tie Spanish company Empress 
Naclonal de Electritidad SA. 


which was offered at 6,450 pesetas 
($47.70) a share in early June, cur- 
rently trades for 6.210 pesetas, 
down about 4 percent. 

Is the party over? Paul Harwood, 
the manager of the Mercury Euro- 
pean Privatization Fund, doesn't 
think so. but he blames the current 
difficulties on bad market condi- 
tions combined with investment fa- 
tigue from too many privatizations 
at once. 

“The privatization issues them- 
selves,’' he said, “are adding to the 
supply of stocks, the more supply 
you get relative to demand, tire 
lower the price for everything.*’ 

Mr. Harwood said current diffi- 
culties should not last, but that 
“France and Italy are going to 
struggle to get issues away In the 
short term, unless they can demon- 
strate that they have actually al- 
lowed people to make some mon- 
ey.'’ 

The excess supply is not about to 
dry up. A recent Morgan Stanley 
report estimates that the European 
privatizations between 1993 and 
1998 could have a total value of 
$100 billion to $130 billion, with 
the most privatizations taking 
place in Italy, France and Spain. So 
far only a small portion erf those 
companies to be privatized have 
been sold. 

The oversupply of European pri- 
vatizations Tor international inves- 
tors could be avoided, according to 
Anthony Bolton, manager of Fidel- 
ity Global Privatisations Trust, if 
there were some sort of timetable. 

Mr. Bolton also points out that 
an oversupply and privatization fa- 


can have its advantages: 
ere there is indigestion there 
are going to be greater bargains, so 
I am not disappointed that the ex- 
pectations are not great” 

To attract investors, govern- 
ments may be forced to offer great- 
er discounts on companies that are 
already quoted in stock markets. 
Vicky Sled don of Khnnwoit Ben- 
son said, however, that investors 
should not be distracted by current 
problems or by short-term gains — 
the benefits of a privatized compa- 
ny come from rhangwt in manage- 
ment practices that don’t occur 
overnight. 

“The initial pricing discount i$ 
just the icing on the cake,” she said. 

In Italy the new government of 
Prime Minister Silvio Berlusconi is 
firmly committed to carrying out 
an ambitious privatization pro- 
gram. Lamberto Dini, the new 
Treasury minister, says he hopes to 
raise at least $30 bflKon. 

There is, nonetheless, a good 
deal of controversy over privatiza- 
tion, Italian-siyle. The sale of 
Banca Commerciale Italians, and 
Cn&dlto Italiano went well enough, 
but investors and politiriaiis were 
shocked at the way Mediobanca, 
the powerful Milanese merchant 
bank, assembled a group of inves- 
tors and managed to pack tire 
boards of the banks. 

A co mp romi se has now been 
agreed ana Italy will proceed with 
privatization on a case by case ba- 
sis, some with a noyau dur, or care 
shareholder group, and some with 
an Anglo-Saxon, or more free-mar- 
ket style. 


What counts most to the investor 
is the breadth o' program, and the 
government's co mmi tment to keep' 

the sales going. Companies to 
watch out for include the state tele- 
communications group Stet and 
the electricity utility ENEL, as well 
as FNA. the insurance company 
due to be sold at the end erf June. 

In France the government wants 
to raise cash and popularize the 
stock market, but also likes to have 
a core shareholder group, often 
made up of French companies or 
institutional investors. This ensures 
that a good portion of shares re- 
main in French hands 

One analyst called this practice 
the equivalent of the “poison pill” 
disincentive to unwanted takeover 
bids, and suggested that the priva- 
tized companies might be exces- 
sively influenced by the interests of 
the core group. 

Some French candidates for pri- 
vatization this year include the in- 
surance company Assurances Gia- 
fcrales de France and Compagnie 
des Machines Bull SA. Bull, a trou- 
bled computer maker, will proba- 
bly be sold privately. 

The privatization program in 
Spain is restricted to a few of the 
state's flagship companies that are 
generally considered to be fairly 
well managed and efficient. The 
companies due for privatization in- 
clude the state oil and petrochemi- 
cal company Repsol, Telefonica de 
Espaha, the state telecommunica- 
tions company, and Tabacalara the 
state-owned tobacco company. 

Analysts say the state should 
have no problem selling, these com- 


panies, as long as the shares are 
priced at a good discount 

As yet, there are not many funds 
that deal exclusively with Europe- 
an privatization. Cynics say that 
these vehicles are “captive inves- 
tors,” providing a guaranteed mar- 
ket for the platings arranged by 
their investment-banking cousins. 
Certainly, the performance of these 
funds has not, so far. been inspir- 
ing. 

Klein wort European Privatisa- 
tion Investment Trust PLC, intro- 
duced in February 1994, is a 
closed-end fund fisted on the Lon- 
don Stock Exchange with £500 mil- 
lion ($760 million) in assets that 
invests in privatizations within 5 
years of their initial offering. The 
fund’s share price is currently down 
28 percent from the initial price: 

The Mercury Privatization Trust 
PLC is a £347 million fund that 
casts a wider net, investing not only 
in companies that have recently 
been privatized, but also in compa- 
nies that were previously privatized 
and in companies that have sub- 
stantial investments in privatized 
businesses. The fund, launched in 
late April, currently nodes slightly 
above its startmgprice. 

Tie Guinness Flight Global Pri- 
vatisation Trust, launched this 
March, aims for long-term capital 
appreciation through investment in 
privatizations around the world. 
The fund's shares currently trade S 
percent below the initial price. Tie 
Fidelity Global Privatisation Trust, 
a £36 milli on fund introduced in 
March 1 994, also looks for privati- 
zations in and beyond Europe. 


ADRs Provide a Convenient Route for Investors 


By BaieNetzer 


'• J 


W HY travel if you can have the 
goods delivered to your door? 
Governments in Europe, Latin 
America and Asia are adopting 
just that marketing philosophy in privatizing 
formerly state-controlled businesses. They 
are raising capital the old-fashioned way by 
eagerly swing shares to American investors 
through the medium of UiL-listed securities 
known as American Depositary Receipts, or 
ADRs. 

ADRs aren’t quite the same thing as 
stocks in a non-UJS. company, but their price 
behaves in a similar way. The result for UA 
in restore is that the speculative adventure of 
baying shares in a foreign privatization is 
qmckjy becoming a comfortable, armchair 
occupation, requiring little mere than a daily 
gfamce at the ADR listings on the New York 
Stock Exchange. 

Since 1990, approximately 16 internation- 
al privatizations have raised mare than $9 
bflKon by listing ADRs on the New York 
Stock Exchange^- according to theBank^rf 
New York. "A Jotraf governments running a 
privatization program are listing ADRs be- 
cause they recognize that there is a lot more 
A m eric an money going for investments out- 
side of America than mere is money coming 
in for UJS.-based companies,” said Kristin 
■Merrigan, ADR analyst fra Kemper Securi- 
ties in Chicago. 

- Ken Lopian, an ADR specialist at Bank of 
New York, predicts that a great deal of the 


approximately $55 billion in capital expect- 
ed to be raised through privatization this 
year will enter the U.S. market through an 
ADR listing. Brazil's stale-owned telephone 
company is expected to be privatized once a 
constitutional prohibition is waived and a 
number of African companies from Morocco 
to Zambia are slated to hit the capital mar- 
kets. 

True, not all privatizations have gone the 
ADR rente. Some countries have avoided 
American all together, preferring to restrict 
the listing of new shares to a domestic slock 
exchange. If the country is open to foreign 
investment to begin with, many US.- based 
brokers can order shares off a foreign ex- 
change for their customers. Experts caution 
however that getting in on the initial offering 
is virtually impossible for individuals and 
even after the shares bang trading there may 
be other complications. 

In some cases, authorities in charge of 
privatizing a company have chose to place 
shares privately with American institutional 
investors and they have avoided retail inves- 
tors. Since 1990, nearly $3-7 trifiion m shares 
from 35 privatizations have landed in the 
portfohoe of American institutions through 
private placement. While individuals are re- 
stricted from buying these shares, experts say 
U.S. investors eager to participate in privati- 
zations should watch Tor the same compa- 
nies’ names to crop up in new ADR issues. 

“Companies that are in the process of 
privatizing often view private placement in 
America as a preliminary step to issuing an 
ADR," said Ms. Merrigan. For example. 


Telefonica de Argentina, a company that 
offered a private stock sale to UJ5. institu- 
tions late in 1991, listed its public shares in 
New York tins past March. Its northern 
counterpart Telecom Argentina, which pri- 
vatized early in 1992 but sold only to UJS. 
institutions, is expected to make a similar 
move soon. 

The London-based monthly newsletter 
Privatisation International ($650 annually) 
provides information on companies plan- 
ning to privatize, whether through an ADR 
issue or through listing on a foreign ex- 
change. About 40 pages an issue, the news- 
letter follows worldwide privatizations in the 
planning process and after they have oc- 
curred. While basic investment information 
is given before an issue is floated, in vestment 
recommendations are not printed. 

UR. investors who prefer to limit their 
exposure to securities listed on American 
exdianges can find ADRs covered in The 
Global Portfolio ($195 a year, $95 for six 
months), a monthly newsletter published by 
Mercer Inc. The newsletter summarizes ana- 
lysts' investment views on existing and ap- 
proaching ADRs, though, according to the 
editor, Mark Oiler, recommendations on 
ADRs for coining privatizations are not al- 
ways to be trusted. 

“It’s tough on new ones,” he said, “be- 
cause the only people who know whether 
these dungs are any good or not are the 
people in the syndicate issuing them and 
they can’t talk because of SEC restrictions.” 

According to Mr. Coler, one ADR cur- 
rently favored by analysts is the Argentine 


oil company, YPF. Privatized last June at 
about $19 a share, the stock has since risen to 
around $23. When the $4 billion company 
was privatized a year ago, it was “fat and 
dumb but not happy ” according to Ms. 
Merrigan. Since then, it has reduced the 
number of employees to 7,000 from 50,000, 
penetrated new markets in Chile and Brazil, 
and upgraded its pipeline activity. 

“Now they can actually move the oil once 
they get it out of the ground,” said Ms. 
Merrigan. With the ADR recently yielding 
more than 3 percent, Ms. Merrigan expects 
YPF shares to reach $32 in the next 12 
months. 

At Merrill Lynch, a favorite emerging 
from the host of recent European privatiza- 
tions is $2J* billion TdcDanmark, the princi- 
pal provider of telephone services in Den- 
mark with more than 3 million subscribers. 
Taken public in late April at about $23 a 
share, the company’s ADRs recently traded 
near $25 and Merrill Lynch analyst Chris 
McFadden expects the price to reach $30. 

U.S. investors will find analysts happy to 
recommend a number of ADRs for already- 
privatized companies. Few, however, will 
find easy access to the shares when they are 
first sold, and analysts caution against swal- 
lowing recommendations on ADRs about to 
beissued. 

“If if s a hot issue, an individual isn't going 
to be able to buy it at issue anyway,” said 
Mr. Coler. “There’s really no need to ay and 
jump to be the first person to buy it on the 
first day.” 


BRIEFCASE 


TOP QUARTILE PERFORMANCE SINCE LAUNCH 



+22% OVER 1 YEAR* 


.OM Mutual Fund Off ora 
|PIay on South Africa 

' Old Mutual, the fund management arm of 
!the South African Mutual Assurance Sod- 
«ety, is launching a new dosed-end invest- 
"meat Arad mined at institutional and sophis- 
'ticated mtfivwhial investors. The fund, whose 
*Has open Thursday June 23, has a goal of 
'raising '$75 million from investors seeking 
■exposure to "industrial and financial stocks, 
‘with an overweight position in medium to 


The managers characterize theirinvest- 
‘ment strategy as Tdying on “successful stock 
•packing, and local knowledge.'’ Old Mutual 


exclusively on the South African mar- 
.ket” 

’ “The key to our policy will be a focus on 
.growth companies, which is why the fund 


managers win be seeking to make invest- 
ments in the less weQ known medium-sized 
companies, rather than exclusively into the 
mare mature blue chip nodes,” said Bill 
Langley, assistant general manager of Old 
MutuaL 

The fund is denominated in sterling, with 
a minimum investment of £2,000 ($3,000). 
Depending cm the funds raised, launch ex- 
penses will be a maximum of 4.5 percent, 
with a I percent annual ma nag ement fee. 

' For more information, call Old Mutual at 
its British office at (44-962) 861-881. 

MasterCard Is Proposing 
Sendee for Soccer Fans 

Whether you think if s the beautiful game, 
or about as much fun as watching the grass 


grow, soccer is certainly international. 
Which is why MasterCard and Eurocard 
have set up a multilingual helpline for visi- 
tors to the United States who need help 
during the World Cup tournament that be- 
gan Friday. The number is 1 (800J MC CUP 
94. French, Spanish and German are the 
mam languages offered by the service, with 
interpreters m other languages also avail- 
able. 

The Summer Rally: 

An Old Investor’s Tale 

Summer begins in a few days in the North- 
ern Hemisphere, and so talk of what has 
crane to be known as the “traditional sum- 
mer rail/’ in American stocks is bound to 
pick up. But a sober review of market history 
reveals that stocks have no more tendency to 


move up during the summer than any other 
time of year — less actually. 

The newsletter InvesTech Market Analyst 
found that over the last 32 years, the Dow 
Jones industrial average rose between 6 and 
7 percent, on average, from its May low to its 
highest level over the following three 
months. 

That doesn't seem so bad. until you look at 
the same statistic from the other 1 1 months. 
In eveiy case, the Dow advanced further over 
the next three months from the target 
month's low than it did in May. The summer 
months showed the smallest gains, in fact. 
The biggest — close to 10 percent each 
month — came in November and December. 

The summer rally “is one Wall Street tru- 
ism that will never' die,” notes James Stack, 
InvesTech's editor. “Yet it’s one for which 
there is absolutely no statistical support.” 


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Page 20 


INTERNATIONAL HERALD TRIBUNE, SATLTRDAY-SUNPAY, JUNE 18-19, 1994 


SPORTS 


Magic Continues 
For the Indians 


The Associated Press 

*[ *&]» ^ ^ they will win. 

As if blessed by ihe baseball 
&ods, the Cleveland Indians, one of 
ine major leagues' biggest* joke the 
1351 years, are enjoving a magical 
Rp in their new home, Jacobs 
Field. 

The Indians, who finally left 
<f rear y Cleveland Stadium' after 
[onr de cades of failure, wo n their 

AL ROUNDUP 

1 5Ul straight at home on Thursday 
tu&ht, rallying for three runs in the 
umth inning for a 7-6 victory over 
the Boston Red Sox. 

, "Our momentum is so strong 
right now, it's really hard to slop 
us,” Said Omar Vizquel, who had 
three of Cleveland's 17 hits. 

The victory was the Indians’ 
sixth straight overall, with their 15 
straight at home the longest such 
streak in the majors since Boston 
won a record 24 in a row in Fenway 
Park in 1988. The Indians last lost 
m Jacobs Reid on Mav 1. are a 
major-league best 20-7 at home and 
have now won eight games there in 
their final at bat. 

Jim Thome’s !3th-inning homer 
beat Toronto on Wednesday night; 
Albert Belle's two-run. two-out sin- 
gle in the ninth overcame Boston 
on Thursday night. 

The Indians, who lead Minneso- 
ta by 1 4 games and Chicago by 3 in 


the AL Central, will play 14 of their 
next 17 games at home. 

“We're down, we come back." 
Carlos Baerga said after he scored 
the winning run on Belle's hit. 
Xhie day it’s Jim Thome, one day 
it's Albert, one day it's Eddie Mur- 
ray/' 

Tom Bruoansky, traded back to 
Boston by Milwaukee earlier in the 
day, ana Scott Cooper each hit 
two-run homers off Cleveland's 
starter. Jason Grimsley. to give 
Boston a 4-0 lead after four~ in- 
nings. 

Yankees 6, Orioles I: Jimmy 
Key won his career-high ninth 
straight, and Pat Kelly hemered 
and drove in three runs as New 
York took three of the four games 
played in Baltimore. 

Wade Boggs also homered for 
the first-place Yankees, who fin- 
ished their road trip 5-6. 

Key allowed one run and eight 
hits in 7 Vs innings . Unbeaten hince 
April 9. he has three of the Yan- 
kees’ five victories in Juue and is 5- 
0 following a New York loss. 

Leo Gomez homered for the Ori- 
oles, who have lost their last four 
home series. 

Brewers 5, Tigers 4: Matt Mieske 
hit two home runs in Milwaukee, 
the one in Lhe seventh tying the 
score at 4, the one with one out in 
Lhe ninth beating Detroit. 

Junior Felix homered Tor the 
third straight game for the Tigers. 


Cardinals Tie a Record 
But Lose to Pirates, 7-5 


The Associated Press 

Mark Whiten caught Lhe baJL 
cocked his arm and let fly. 

Again a base runner was daring 
him to make a perfect throw, and 
this time the St. Louis Cardinals' 
right fielder did just that. Luckily 
for Lhe Pittsburgh Pirates, the dam- 
age was already done. 

Whiten'* throw beat Lance Par- 
rish to third base to complete a 

NL ROUNDUP 

double play, the Cardinals' record- 
tying seventh of the game, and 
close out the top of the 10th. But 
the Pirates had already scored three 
times in the inning, and they held 
on for a 7-5 victory on Thursday 
nighi in Sl Louis. 

Earlier in the inning, Jeff King 
hit a fly ball to Whiten with none 
out and the bases loaded. Kevin 
Young scored the tie-breaking run 
when Whitens throw went up the 
first base line. 

“With any other mortal guy. it's 
a no-doubter." KingsaidL “The guy- 
scores standing up. Bui with Whit- 
en, you never know. When he cut 
loose with that bazooka, f wasn’t 
sure if we were going to score or 
noL” 

Parrish added an RBI fielder's 
choice in the 10th, then enabled St. 
Louis to gain a share of the double 
play record by trying to lake third 
on Carlos Garda’s sacrifice fly to 
right. 

Sl Louis is the fourth team to get 
seven double plays in a game. The 
last was the Atlanta Braves in a 14- 


- -a- 

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Players Hold Off 
Setdrii 


,w.v -,i ■ 


iYV ..•fit 


.JC* • .<*!' : 

\Lxt Dwxwj/Tbc AaMKiatcd Ptt» 

Boston's Lee Tinsley dived for Eddie Murray's hit but came up empty-handed as center fielder Otis Nixon looked on in Qevdand. 


who. with homers in 22 straight 
games, are three short of the major 
league record set by the 1941 New 
York Yankees. 

Royals 4, Mariners 1: Wally 
Jovner celebrated hr* 3 2d birthday 


with three hits and three RBls as 
Kansas Gty. playing at home, won 
their fourth straight over Seattle. 

Ken Griffey Jr., who had ho- 
mered in his five previous games, 
went 0-for-4 against four pitchers. 


Angels 6, White Sox 5: Chili Da- 
vis’ second homer of the game, in 
the 10th inning, gave California its 
victory in Chicago. Davis had hit a 
three-run homer in the third. 

Athletics 6, Rangers 4: Ruben 


Sierra hit a two-out RBI single in 
the ninth, and the A's added a run 
on a wild pitch to win in Texas. 

Sierra has nine hits b his last 13 
at- bats with runners in scoring po- 
sition. 


By Richard Justice 

Washington Post Service 
- NEW- YORK — Major league 
basebhlTs pUryws restated t&dr oj> 
position, to any cpUe^c^aigaiuing 
agretment that includes a salary cap 
during: a meeting of their - umon’s- 
esecuuve board ur Chicago:. ■ 

But the playera declined 'to set a 
strike date, chposiag instead lo re- 
turn" to -thdr." clubs aind' meerwith 
their leauiQiaies . to - consider. 'rite 
owners' opening offer. : v • 

SrilL the game' appears Iveaded 
for a shutdown, probably in early 

SuTu, the P eve of ihe AfrltL: 
Game.in Pittsburgh and seem like- 
ly ta set a strike dale at- that . time. 

,“1 hope it doesn’L happen, but 
my gut feeling is that it wilL and 
anybody who's been around base- 
ball for a long time feds the same 
way,” said Tony Bwiymv the Sait 
Diego outfielder;' " 

. Richard Ravitch, the owners' 
chief negoda tor, said he viewed the 
negotiations. with “caution." 

“Strikes never produce results 
that could not be 'accomplished by 
Lough, collective bargaining,- he 
said. “We don't want to take any- 
thing from lhe players. What wen 
like Is to see the revenue become' 
more evenly distributed.". 

The owners’ .proposal would 
eliminate salary arbitration; (when 
a player and his team cannot agree, 
on a salary, an independent arbi- 
' tra (or now chooses- between the 


conflicting figures) and «■»“ 
make significant changtem^ 
agency. But its most ^ 
parii Es a salary cap. ; or hnut 

system because 19 teams 

money and 

Oakland, San Diego. Milwauk'*- 
Pittsburgh and Seattle cannot sur- 
vive with .the current system. 

. “A salary cap makes freea^n^- 
. as we know it, pretty mwl [ 
nated/’-said Tom Gkzvine, the 

lama pitcher. - . .. 

Players are likely to smke sow 
ihsy believe the owners wul d». tare 
an impasse zind unilaterally’ impose 
then- new system over the wrnter. 
The pfayers have little leverage but 
tci call- a~ spring strike.. Tbey. can 
have an impact over the next sever- 
'aj mnnrhs as the- owners begin to 
receive -- their' national television 
payments. ... - 

Tm a union man,” said Kirov 
Puckeir.trfr the. Minnesota Twin*. 
■“We have.25 soBd union pet^ne 
{aae. We are -25 solid members m 
this dabboose." '= 

. . ■ Glavioe said the owners' propos- 
al ivas.“a betia.startingpomt than 
.'X thought-” •• _ 


To mbtoritw in Gwmony 

v‘. jiist doS, iibll tree, . ; . ' . 
; 0130.84 8585 - 


SCOREBOARD 


inning game against Cincinnati on 
June 27. 1982. 

Joe Tone, the Cardinals' manag- 
er, was the Braves' manager then. 

“I hope we won that game so I'm 
1- 1 in these kind of games,” he said. 

Gerald Perry had bed the score 
for the Cardinals with a two-om 
pinch-hit homer in the ninth. 

Marlins 4, Mels 2: Kurt Miller 
held visiting New York to four hits 
in 8 td inning s in his second major- 
league start while Kurt Abbott ho- 
mered for the third consecutive 
game for Florida, Benito Santiago 
also homered and Jeff Conine dou- 
bled in a run. 

After Joe Orsulak’s two-run 
homer in the first. Miller retired 17 
straight until the ninth, when he hit 
Fernando Vina and walked Bobby 
Bonilla with two outs. 

Braves 1L, Rockies 8: Charlie 
O’Brien hit a two-run homer during 
a five-run eighth that gave host 
Atlanta its 19th victory in 20 games 
against Colorado. 

Three of the runs in the eighth 
scored on throwing errors. 

Astras 6, Giants 3: Tony Euse- 
bio’s two two-run homers, "his first, 
since April 13. and Ken Caminiti’s 
I3th of the season for Houston sent 
San Francisco to its ninth loss in 10 
home games and seventh loss in 
eight games overall. 

Padres 7, Cubs I: Andy Ashby 
pitched a five-hitter as San Diego 
beat visiting Chicago for the first 
time in six games this season. 

The Padres’ Bip Roberts extend- 
ed his hilling streak to 19 games, 
the longest in the NL this season, 
with an RBi single in the seventh. 


Major League Standings 


AMERICAN LEAGUE 



East Divlstafl 



W 

L 

Pet. 

New York 

3S 

25 

.603 

Baltimore 

35 

28 

456 

Boston 

J2 

31 

408 

Detroit 

32 

31 

JOB 

Toronto 

30 

33 

.476 


Central Division 


Cleveland 

IT 

25 

497 

Minnesota 

36 

27 

471 

Chicago 

34 

28 

448 

t^nsas City 

34 

38 

431 

MHwaut ee 

29 

35 

453 


West Division 


Te*as 

31 

33 

434 

Seattle 

27 

37 

.472 

Californio 

at 

3« 

.418 

Gotland 

r 

43 

333 


I 1 ? 

2 


t 

4V; 


NATIONAL LEAGUE 



East Division 




w 

L 

Pet. 

GB 

Atlanta 

42 

21 

.467 

— 

Montreal 

40 

24 

425 

2V; 

Florida 

33 

33 

400 

70Vt 

Philadelphia 

32 

34 

.485 

!l"j 

New York 

30 

35 

.4*2 

13 


Central Division 



Houston 

37 

28 

5*9 

— 

Cincinnati 

36 

28 

463 

1; 

St. Lauis 

32 

31 

408 

4 

Pittsburgh 

29 

35 

.453 

7‘gi 

Chicago 

25 

38 

397 

11 


West Division 



Los Angoict 

34 

31 

423 

— 

Colorado 

39 

36 

.446 

5 

San Fronclsco 

2" 

37 

A39 

5"! 

San Dirge 

24 

41 

Mt 

ID 


Thursday's Line Scores 

AMERICAN LEAGUE 
Detroit 030 IB# K»— « 10 0 

MllarauKce SOI OBO 101— S 10 1 

Belcner, Groom 1 91 and Krpulcr, Scanlon. 
LlOrd (Bl and Horner. W— Llovd. 2-3. 
L— Groom. 0-1. HP*— Ddroil.Fell* (10) Mil- 
waukee. Miesi* 3 1*1. 

Boston B20 500 011—* 7 0 

Cleveland OBB 110 HJ— 7 17 0 

Sele. Howard 171. Harris IS). Fossas ISt. 
Voider 18). RuraHl 1*1 and Rowland; Grims- 
ley. Ltlliaulst iBi. Farr (*) and SAiomar. 
W— Fcrr, 1-1. L — Russell. <M. HRs— Bast on. 
Cooper 113). Brunanskv 2 l2». 

Seattle 4*0 too no— 1 I l 

Kansu City 002 Ml Olx— I 7 1 

BostacndDWincn. Hxclman IE); Gordon. 


Maanante (3), Belinda <«l. Meacham (71. 
Montgomery (8) and Mavne. W— Masnante, 
3-2 L — Basla. 3-8. Sv — Montgomery (101. 
New York Ml IIS 114-4 M l 

Baltimore 000 BOO ow— l 8 o 

Kev. Hitchcock (01 and Slanrev; Mussina, 
win ramson 171, T3aiton (9). Elcfttiom (9) 
and Halles. W-Kev. 10-1. L— Mussina. M. 
HRs— N.Y- Bobos 191. Kelly tl). Baltimore. 
LGomei CBJ. 

Californio D03 006 020 1 — 6 I 0 

Chicago Ml Ml 000 0-5 11 1 

(IB IduUibs) 

Springer, B^atterson (7), Gratic (I) aid 
CT timer, Fatireoas <B) ; A^emondez. Assen- 
madwr 18). McCnsklll (8). Cook ITOIondLa- 
Volllere. Karkovloe 1101. W— Grahe, 1-3. 
AHcCaskliLO-2 H Rs— CaNfomlo. COavIs 3 (131. 
Oakland IM 043 003—8 II 7 

Texas 22B m bob— « 8 3 

Darling. Acre IBI. Leloer (9) and Sleln- 
bacti; Drtfmcr, Howell (*l and I.Rodrlguez. 
W— Acre.30. L— Dettmer.O-l. Sv— Leioor m. 
HR— Texas. W.ctark 191. 

NATIONAL LEAGUE 
Colorado 000 32# 300— 0 10 2 

Atlanta IM 013 Ux— 11 13 1 

Nled. Munoz (61, Reed (*>. Rutfln (81 and 
Girordi: Angry, OMn (S). Bleteckl (*), 
Wotiters (7). Stanton (B), McMIdiael (9) and 
O'Brien. W— Stanton. 2-1. L— Ruttm, 3-1 
Sv— McMlctioet I it). H Rs— Colorado. Girordi 

(2) . Atlanta Kelly (SI.O-Brlen (5). Pecsta (1). 

Heaton 010 IM 24S-* 7 I . 

San FranoUCB IM 001 IM — 3 7 8, 

Kile, Hampton (B). Hudek (91 and Eusebio; ' 
Portugal. M_;oauan (0). Beck 19) and Man- 
narlno- W— KIM. S-X L— Portuoal. M. 
Sv— Hudek (10). HRs — Houston. Cam lull I 
(13). Eusetrio2(3i.San Francisco. Bonds (is>. 
Oilcsaa DM Ml 004—1 5 i 

San tweao BOO 111 14x-7 11 2 

Banks. Otto (*). Wendell (8) and Wilkins; 
Astibv and Aiamus. w— Ashby. 3-5. l— B anks. 
7-6. HR— San Diego. Ausmus (4). 

New York 2M BM 004—1 4 I 

Florida 300 IN 00k— 4 7 1 

Remllnger. Linton 161. Mason (8) and SNn- 
nett; MHter.Nen (9) and Santiago, w— Miller, I- 
L L — Remllnger. 0-1. Sv-NeO U). HRs — NY, 
Orsulofc (A). Florida Saiilogo IS), Abbott (4). 
Pittsburgh 811 601 100 3-7 13 8 

St. Load 810 IN (11 1—5 II I 

(IB Innings) 

Cooke. Dewey IB), A. Pena (9). Minor (ID). 
White (10) and Parrish; Olivares, Murohr (7), 
Amelia (B). MPmz (10) and Pagnoul; 
TJWcGrlH 110). W — AJ'ena 3-X L— MJ’erez. 
XX Sv— White Ml. HRs— Pittsburgh, Garda 

(3) . St. Louis, BJardan (3), Perry (1). 

MAJOR LEAGUE LEADERS 
AMERICAN LEAGUE 
BATTING— O'Neill. New York. .405; W. 
Clark. Texas. J7B; Belle. Cleveland, .770; 

T nomas. Chicago. Ja 9; Lotion. Cleveland. 


450; Palmeiro, Baltimore, 444; C Dovls. Cali- 
fornio. 439. 

RUNS— Thomas. Chteoco, 87; Griffey Jr. 
Seattle. At ; Canseco. Texas,* i ; Lofton, C lev*, 
■and. 57; White, Toronto. 53; Belie. Cleveland 
5X- Phillips, Detroit. 51. 

RBI— Carter. Toronto, 85; Puckett, Minne- 
sota 64: W. Clark. Texas. *3: Canseco. Texas. 
43; Griffey Jr. Seattle, 50; Franca Chlcaoa 
58; Sierra. Oakland. 57. 

NTTS— Lofton. Cfcvefand, 19: Belle. Cleve- 
lanL 87; W. Clark. Texas. 85; Motttor, Toronto, 
84; Frvmaa Petrol I.B3; Palmeiro. Baltimore. 
83; Thomas. Chicago, BX Griffey Jr. Seattle. 
82; Puckett, Minnesota SX 
DOUBLES — Knoblauch. Minnesota 29; 
Frvmaa Detroit, 22; Belle. Cleveland. 22, W. 
Clark. Texas. 20; Baerga Cleveland. 19; 
Olerud, Toronto. 16; Palmeiro. Ballhnoro, 18: 
Puckett, Minnesota. 18. Wolitor, roronla >L 
TRIPLES— 1_ Johnson. Chicago, 10; Cate- 
man, Kansas ary. 8; A. Dka Milwaukee. 7; 
Lofton. Oevetand t: McRae. Kansas atv, 6; 
Hu fee, Texas, 4; Curtis, California 4; A- Cole, 
Minnesota 4; J. Gonzalez, Texas. 4; Buhner, 
Seattle. A 

HOME RUNS— Griffey Jr. Seattle. 24; 
Thomas. Chlcaoa 22; Canseco . Texas. 19; M. 
Vaugrm. Bostoa 1 7 ; Belle. Cleveland. 17; Sier- 
ra Oakland 16: Fielder. Detroit, 16; Carter. 
Toronto, id. 

STOLEN BASES — Lofton. Cleveland. 33; 
Coleman. Kansas City. 29; Nixon, Bostoa 25; 
Knoblauch. Minnesota 19; McRae. Kansas 
City, 19,- A. Cole, Minnesota IB; Hulsa Texas. 
17.' 

PITCHING (8 Decisions)— Key. New York. 
WH.409.X99: Bere, Chicago. B-l. .889, 249: M. 
Clark. Cleveland S-i. J99. 189; Cane. Kansas 
City. 10-2, 833. 241 ; Alvarez. Chicago, B-X M 
341; Tapani, Minnesota 8-2 400b 4 49; mo- 
homes. Minnesota 8-2 .730b 543. 

STRIKEOUTS— R- Johnson, Seattle, 108; 
Clemens. Bostoa 103; Appier. Kansas City. 
9X- Finley. California. 92; Hentsoa Toronto, 
76; Brawi, Texas. 76; Be re- Chicago. 73; Gor- 
don. Kansas Cltv, 73. 

SAVES— L*. Smith. Baltimore. 24; Agui- 
lera Minnesota, 15; RusseiL Bostoa 12; 
Gruhe. California, 10; Montgomery, Kama 
City, 10; Ava la Seattle. B; Hennemaa Detroit, 
8; E ckers lev. Oakland X 

NATIONAL LEAGUE 
BATTING— TGwynn. San Diego. 488; Mor- 
ris. Cincinnati, 461; Alou. Montreal -353; Pi- 
azza Los Angeles. 442: Bagwell Houston. 
441; Jefferies. SI. Louis. 432: Galarraga. Cal- 
orate 332. 

RUNS— Grissom. Montreal. SB; Dvkstra 
Philadelphia 58; Bagwell. Hwstao 57; Go- 
larroga Colorado. 49; Lankford 51. Units. 48; 
Biggin. Houston. 47; Alou, Montreal. 46. 

RBI— BaoweiL Houston. 63; Piazza. Los An- 
gdes.57; Canine, Ftartda 54; Gatarraga Col- 
orada 54; MaWllllams. Son Franetsca 50; 


BIctietHs Calorodd 49; waJtodi, Los Aimtaa. 
49. 

HITS— Morris, Cincinnati. 90; T. Gwyna 
San DleoaBS; Canine. Florlda4U>; Gatarraga 
Colorado. 85; Plana Las Angeles. 83; Alou. 
Montreal B3; Mondesi Las Angeles. 81. 

DOUBLES — L Walker. Montreal 2B; Big- 
gta, Houston. 24; Dvkstra PhUartotchla 25; 
Morris. Ondnoall, 21; BagwetL Houston, 18; 
Alou, Montreal 18; T. Gwyna San Otega IX 
TRIPLES— Batter, Las Angates, 7; R. Sand- 
ers Cincinnati 6; Mondesi Los Angeles. 5; 
Sosa Chicago. Si Alicea St. Louts, 5; Sand- 
berg. Chicago, 5; Mania Pittsburgh. 4; Ctav- 
taaSan Frandscai; D-LewlaSan Fronds- 
co. 4; Weiss. Colorado. 4. 

HOME RUMS— Ma Wllltams. San Francis- 
co. 23; Gatarraga Cotarada 19} Bagwell 
Houston. IB; McGriff. Atlanta. 18; Mitchell 
Cincinnati, 17; Bichette. Cotarada 16; Wai- 
tadt Los Angeles. U. 

STOLEN BASES— O. Sanders. OndmiafL 
27; Grissom. Montreal 23; D. Lewis, San 
Francisco. 21; Moutoa Houetaa 10; Carr. 
Florida, >9; Biggta, Houston, 19; R_ Kelly. At- 
lanta 15; Butler. Los Angeles. Id 
PITCHING (8 Decisions) — Do. Jackson. 
PhltadelpttaLB-l, 8B9. 105; G. Maddux. Atlan- 
ta, 10-2 -B3L 148; K. Hill MantnaL WX J49. 
3.11; R. Martinez. Las Angeles. 8-2 450. 349; 
Drabek, Houstaa 9-i JSB. 2*9; Saberhagea 
New York. 7-3. -TOOL 345; P; J. Martfnez, Mon- 
treal 6-1 MI. XES. 

STRIKEOUTS— Benes. San Dlega-100.- 
Rlla Cincinnati, <rt: P. J. Martinis, Montreal 
90; Giovine, AtkxitabVO; G. Maddux, Atlanta. 
85; Ke.Gnnx Las Angeles, 84; FasseraMon- 
IroalBX 

saves— o. Jones. Pftdadetahfa 17: mcmj- 
choel. Atlanta.. 16; Franca, New York, 16; 
Bede. San Frond sea. 13; Myers. Chlcoga 13; 
M. Perez. St. Lou Id 12; Wetteland, Montreal, 
12 - 

The Michael Jordan Watch 

. THURSDAY'S GAME: Jordan wgnt2-5wflh 
a doable hi the fourth inning and a RBI single 
In )he ninth as the Bir m i n gh am Barons beat, 
the KnsMVfffe Smokies 84- 
SEASON TO DATE: Jordan Is bantng 408 
(474or-224)wl Iti 16 runs. 10 doubles. one triple. 
25 RBls. 20 wdfcs. 61 sirttataufs and is stolen 
bases in 25 attempts. Defensive Iv, He has 101 
putouts. one assist and six errors In right field 

Japanese Leagues . 


Hiroshima 22 a . 0 .431 Uta 

Friday's Reserie. . . . 
Hiroshima 4, chunichl 3 
Yokohama 5, HonsMn -a - - 

PocWc League 

w X T PCL .. Gfl 
SeRM 38 20 0 MS — 

Dolel - - . 32 23 0 482. 3ta 

Orix 30 25 0 '445 5W 

Latte 28 a 0 473 . ’9W 

Nippon Horn 22 34 1 493 M 

Kintetsu 19 34 1 JSB 15Mi 

Friday ■* Results • - 

- Orix 8. Sefba 3 - • • 

Lotte l. DaM a 




5AN DIEGO— PutWOByWWtefeefst ntfditr. 
an 8lMav dNobtad ftd BoubW contract dEddie 
Williams, tnffekW, from Las Vegas. PCL. 

- SAN FRAN'CMCO— Put - Mflit . Jackson, 
pitcher, an ISday dtsabtad list: 

BASKETBALL " 

National Bastoetoao AxMctaftan r - -. 
BOSTON— F(rod Dare Gcvl tt. senior ex ec- 

. uflm vice prosWtnfcwbowlll remain with the 

' learo as vice chairman of the boord. Named 
' ML' Corr senior executive vice pmkienL 
L. a. CLIPPERS— Witt not exerdseifie op- 
tion on John WHfloms. forward- 
5A5KATOON-Ste»d Brian Marttab order. 
FOOTBALL" 'Vi, 


Central I 

W L T Pet. GB 
Yomlurl 35 19 0 648 — 

Chunichl 27 27 0 400 8 

Yakut! 26 98 0 481 9 

Yokohama 28 28 0 481 9 

Hanshin 25 X 0 ASS I0W 


. BASEBALL 

Aiipiam Lmnf 

BALTIMORE — Puf Devereaux. out- 

flolder, an 15-dav disabled (fat Activated Jef- 
frey Hammonds, outfielder, from l&daviSs-' 
abled HsJ. 

BOSTON— Acquired Tam Bruoonskv. ouL 
Hglder, from MHwbukea for Dave Valia, catch- 
er. Pul Danny Dwwfn nd Scoff Bank h ead, 

' pitchers, on ISktay dbatded list Readied 5er- ' 
gta Valdez, pitcher, from- Pawtucket, in 
CLEVELAND — Acouircd Edaardo - LanN- 
oua. inf teldor. from LA. Dodders tor Briar 
Barnes,PlKlMr.THgnetf John Ftarrelipndier,'. 
Jo minor-leogue contract. 

SEATTLEr-Bowofit contract of ■ Quftut' 
Mock, autftoWer, troni ; Calgary. PCL OF— 
Honed Jett Darwin. Pftriicr, to Calgary. ■- 
TEXAS— P u t Rog er pavBk.PHdter.on ISdav 
disabled Usl retroactive June H Transferred 
Jade Armstrong. Pitcher, from ISdav to 60day 
iBsabfed tat. Signed Matthew Pouts, pother. 

National League ■ ■ 
HOUSTON— Put Steve Flntey. Oufflelder, 
an 154toydtsabtedllst. Recalled Mike Sbnms. 
outfielder, from Tucson, PCL 
MONTREAL EXPOS — Sent Brian Looney, 
Pitcher, to Ottawa, IL . -V •' 

N.Y. MET S— John Cangefoal outftataer, 
withdrew Ms appeal of -Sgomesasoenstaii tar 
c ha rotag mound after, being Mt by Ationta 
pftchur JohnSmottr In game May IBandwOl- 
begta serving .Ms suspension ImmedloteiV, 
Put Jeff McKnighi tafielder. on 'tiday'db. 
ahiedltab retroactive June 10. Readied Show'. 
Haro, o u t fiel der, tram NarToflc. iL Sinned ; 
Matt Kaenia Pilcher; and Lub Hernandez 
and Beau Holey. taffeWers. Assigned Koenig 
ta KtaosporlAL and Hernandez and Hatey ta 
PlttsfleW. NY-PL ' 

PHILADELPHIA — Stoned Rym NwjXtCh- 
er, Scott Shores end John Torok, outfielders, 
and Adan Mil km, catcher and assigned ttwrn to ' 
Batavia. NY-PL Signed Eric, Schrobnann, : 
catcher ma Jason RueeeU. 3d baseman and 
assigned them to Marttnsvflte AL- 


. . ARIZONA— Stoned Randal mu wide re- 
ceiver, fot-vear mu tra c t . Traded Xvroane 
' Slow*, Hntbaeker, to the Washington Mr un- 
diicicMed draft (taka.- ' 

BU F PALO— Stained '4- year contract . wtth 
- FiWfoaia State Uahnersltv is bold training 


. . CINCINNATI— WtthreO -Erik':' VfjBwim. 
-o u a r te r bodu Artie Fora..deta r at e d.tnckta. 
and Brixl Sndtfu Mnebocker, signed Danfct 
Stubbs, detenstve end. la Wear contfoet and 
Jake Ketritner. (warierbadL Signed AHred 
. WHBams.' Uoehodtar^ia 1-war .aimract, 
DENVER— W ai ved Don Magas, offensive 
Jackie. 

GREEN BAY — Starved Fart. Dockwarth, 
Umbdcker. m 

LAJJAMS— S4BO#dChrtsMnrT|n.Mnef»cii- T 

«r .- Chris Bnmtey.taMnreq*hw:LmnJW- 
. words, offensive tackle; Rlckev Brody, H3tjt 
■nil and Jksgr Hester. wkf» reoBfo«r; ' '' 

NEW ORLEANS— Signed Lance Lendbere. 
offensive Hnaman; Scon Bzeredy.Ptace klcSc-- 
er; and Mbc . Itesbttl porter, waived Terry 
. McDtxdeU, offensive tockteb and. Tyrone _ 
Tboinai.wWe rec eiw . StanedFrtmkWgr- 
rnn. defensive UnemcrLond Crota Novlfskv, .. 

oftensivellherooiutoJ-veorcontroc tSraadta c . 

' joteisot fc -'a Hend ve enarta *Mwr contract.' 

MEW YORK GIANTS Re foosed PMI 
' Simra. nuarteritodc: ' - ■ ■' .) 

PHILADELPHIA— Signed Jock. .'Jones. ;• 
.Unebacker^eKt David oanMxwlderorafwer. 

' Id 1-year csatracts. 

.'PITTSBURGH— Sloped Derntenttl Dawson, _ 
"crtter.ta awtrocf extenstan Itewub W97.' 

. SAN DIEGO— SKmed Erie Bientetawmrt- 
nfno bacfc.'ta.X-yaor contrac t *. 

TAMPA BA Y-SWwtdjoAJe Harris flgM 
end, fo ♦■year offer sheef- 


mm 


■ SECOND TEST. 

••• .-Engkmd vs. New zertand •- 
■ Second Dor, Friday, to London 
Scores at tamdK •” -~‘ 

New ZeatamT First Innings: 389^(116 avers) 


DENNIS THE MENACE 


PEANUTS 


CALVIN AND HOBBES 



For investment 
information 

Read 

the MONEY REPORT 
every Saturday 
in Ihe IHT 





kvrjn^i: 


Dat e 


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•’ i» f • 


SPORTS 


INTERN ATIO INAL HERALD TRIBUNE, SATUKDA Y-SUNP AY, JUNE IB- 19, 1994 


Page 21 - 


Foreigners 
Find Open Is 
Still Closed 

The Associated Pita 

OAKMONT. Pennsylvania — 
y»s and years and years, the 
u j. Open’s foreign policy has been 
ample: An American wiB win. 

Unlike the Masters, where ft’s al- 
roost a major story when an interna- 
canal golfer doesn’t win. the US. 
Open has beenjust that— the Unh- 
ed Stales’ Open, and nobody dse's. 

Foreign golfers have won debt 
of the last 12 Masters, but none of 
the last II US. Opens. And with 
one round down and three to go 
this year, the names atop the Iea- 
derboard read like an American 
golf hall of fame: Watson, Nick- 
tans, Irwin. 

So where are the foreign golfers? 

Where's Nick Faldo, supposedly 
the most likely of the international 
‘contingent to finally wrest the 
Open away from America's grasp 7 
Josd-Maria Olazibai, the hard- 


one of Augusta's green jackets? 
Nick Price? Seve Ballesteros, who 
needy won the last Open played at 
Oakmont, in 1983? Greg Norman 
the best golfer in the world for most 
of this year? Ian Woosoam? 

Mostly where they always are in 
the Open: well down the leader- 
board. Interestingly enongh L the 
non-American golfers near the (op 
woe hardly expected to be there: 
South Africa’s Ernie Els, New Zea- 
land's Frank Nobilo, Japan's Jum- 
bo Qzaki and Hajime Meshiai. 



Irwin and Cook Share 
Early Lead at U.S. Open 


Greg Norman of Austrafia, the British Open champion, matched par in both the first and second rounds to stand at 142©? Friday^* 

v*ole life yon wanted to play, and barrasring. This is my sixth Open, courses penalize assault-type golf Ditto Arnold Palmer. 

you come out and play a and this is the hardest course.” and reward patience. -The Readers! are aU old. weC 

course as famous as Oakmont and -r. .< v. «. , «» u- •. *. . . . . m , o5d ’„ . 

shoot a 69 I'm ecstatic” That s been the general lament of I think this whole tournament is established and great players, sai 

Olazabal certainly wasn’t after ia&ay ™WrartioMi golfers for about patience," said Jack Nick- Palmer, who didn't embarrass hin 
his 5-over 76 left him in rhiig* of yc f n: . °Pf 1 courses — tight bus, who turned back the hands of self with a 77. “I think maybe th 
not making the cut. And Faldo, one fairways, toe-dick greens, n umer - time with his first-round 69. “It is one thing that they’ve learned i 


courses penalize assault-type golf 
and reward patience. 


Ditto Arnold Palmer. 

“The [leader] ate all old, weQ- 


“I think this whole tournament is established and great players.” said 
about patience,” said Jack Nick- Palmer, who didn't embarrass him- 


The Associated Press 

OAKMONT. Pennsylvania — 
Hale Irwin sweated his way to a 69 
and John Cook sizzled to' a 65 as 
they shared the lead after 36 boles 
oo Friday, the day Arnold Palmer 
said a tearful goodbye to the U.S. 
Open. 

Irwin shot his second straight 2- 
nnder-par round at Oakmont 
Country Club, this time in a roller 
coaster round in which he followed 
an eagle with a double bogey. - 

Cook moved into contention 
with his 6-under-par round, knock- 
ing in putts from all over and fin- 
ishing eight strokes better than he 
managed on Thursday. 

Both were at 4- under-par ] 38 af- 
ter 36 boles, one stroke ahead of 
Jeff Maggert, two in front of Steve 
Pate, who shot 66, and New Zea- 
lander Frank Nobilo. and three 
better than Kirk Triplett and Tom 
Watson. 

Jack Nkklaus stayed in the bunt, 
turning the front nine in 2-under- 
par 34 to be at 4-under through 27 
holes. 

On another sweltering, 95-degree 
day that only steamed more after 
an overnight thunderstorm, the 64- 
year-old Palmer bid a tearful fare- 
well to the Open, Oakmont and 
perhaps competitive golf after 


at 148, those apparently joining 
Palmer as spectators for the final 
two rounds included Masters 

champion Jose-Maria Olaz&bal. 
who shot 76-74 for 150. 


Those within five strokes of the 
lead included Norman at 71 : Bern- 
hard Langer, Seve Ballesteros and 
Fred Couples at 72. and Tom Kile 
and Nick Faldo at 73. Couples sal- 


■n* Leo ^ ard Sha P'™ °f vaged his round when he drove ihe 
The Washington Post reported: green on the 315-yard 17tb hole 

It was an evening to bask in the and made a 30-Fooi eagle putt, 
glory of what once was. and to *»_„ Mc p ip 

vr*r-oJd Wat™ anri Dear «** S olf S « ‘hree- 


year-old Watson and 54-year-old w u 1 ... 

Nfcklmj. oxxi one-nro m the 

leader board after ihe liehininR- ^eof the players was ihreaienmg 
shortened first round. f°P? s I n j u s name on the leader 

Nicklans. who won ins first Open board They were to compJere their 
here 32 years ago at age 22, sboii on the back nme Fnday 

under-par 69 in the morning and ^ . vt . , 

held a piece of the lead for most of Watson said Nicklaus’s score got 
8 suffocatingly hoi day* His score ^ adrenaline flowing Tor a round 
held up until Watson dropped a that included a 60-foot chip-in for 
three-foot birdie putt at the 17th birdie at 431-yard seventh hole 
hole late in the afternoon, followed important saves of par from 
with a routine par at the last and treble on four other holes. In all. 
finished with a 68 to steal just a Watson had six one-putt greens 


small clap of thunder from Nick- 2 nd a lhal ntOM him to 
laus’s wondrous round completed ** turn a ™ UIt0 a 
five hours before. “I saw Jack up there.’' Watson 

Irwin, South African wonder boy said after an agonizingly slow 
Els and New Zealand's bearded round that took him almost 
star, Nobilo, also were with Nick- 5fchoure to complete. “1 thought 
laus at 69. And two-time Open there’s no reason Tom Watson 


lead. "When you come and play in 
a tournament in which you have 
pever played before, and your 


of the pre-tou rnament favorites, ous hazards — are made for Amen- 
was not delighted with a 73. Woos- golfers, not the world's golfers, 
nam, a former Masters champ, was Norman has railed for years that 
almost apologetic after his 77. the U.S. Open takes the driver out 


laus, who turned back the hands of self with a 77. “I think maybe the shooting an 8 1 and missing the cut 
time with his first-round 69. “It is one tiring that they’ve learned is 11 was likely the last round be will 
about being able to control oneself, patience, and they had to practice cvct play in a major championship, 
being able to have good course that pretty hard.” Putting through tears on the 18th 


from 15 feet was in a group of four did today for four rounds. I'll win 
at 70. the golf tournament" 


almost apologetic after his 77. the U 
“I survived the round, that’s all,” of his 
be said. “When you’re not on top of Am 


the U.S. Open takes the driver out 
of his hasos, and he’s rafting again. 


he said. When you re noton top of And, unlike Augusta, which en- 
yoor game on this course, if s an- courages aggression, U.S. Open 


being able to have good course 
management The U.S. Open has 
never been about power. It’s always 
been about playing a game that is 
under the most difficult conditions 
they can give you.” 


that pretty hard.” Put ting through tears on the 18th 

Many of Ihe eoe-Ameneens * arn ding.. peering, 

found OaJunom just plain hand. 

The courses are set up so tough bogeyi the final hole ten broke 


Unhappy TV. Y. Homecoming for Rockets 9 Smith 


By Ira Berkow 

New York Tima Service 
NEW YORK — Kenny Smith, a native 
New Yorker playing far Houston, has been 
given a particularly rotten homecoming, 
and, as his running mate at guard, Vernon 
Maxwell, told him, “Kenny, we can’t win 
this without yoa ban* on fire floor.” 

And Maxwdl has given him specific advice 
for Game 5 of the National Basketball Asso- 
ciation’s championship a eries here Friday 
night. He told smith. “Do something crazy. 

This is coming from the horse's month, of 
course, since Maxwell is known as Mad Max 
for demonstrated reasons. 

“He’sjust gotta get more aggressive, ” said 
MaxwelL “If he has to do something to g et 
himself going, like take a hard fool on 
Derek, then mat’s what he has to do.” 

He added; “We’ve been Through a lot in 
the four yean or so we've beat with Hous- 
ton, and 1 told Kenny, If we lose this tiring, 
you know who people in Houston are going 
to blame: me and you.”* 

While Maxwell’s numbers are also some- 
what down during the series against the New 
York Knidcs. it is Sari Lb who has suffered 

the most. 


In the four games of the final, in the 
Summit is Houston as well as the Garden in 
Manhattan, Kirick defenders have treated 
Smith shabbily. And while tire series is tied 
at two apiece, little positive has come out of 
it for Smith. On Wednesday, in fact, he hit 
his series nadir, scoring no points in 19 
minutes. 

Derek Harper especially has helped re- 
duce Smith’s point production and assets 
production and, as a result, his number of 
minutes played, as Coach Rudy Tomjano- 
vich has been forced to render him a specta- 
tor for long periods of time, like almost all of 
the fourth quarter of the last three games. 

During the regular season, the lean. lithe 
and loose Smith averaged 1 1 A points a game 
cm 48 percent shooting and performed about 
tire sasrein tire Rodcetf three previous play- 
off series. Against the Kurds, the lean, lithe 
and tight Smith is scoring 3.8 points a game 
on 26 percent shooting. 

Some wondered whether Smith was sim- 
ply nervous playing before his 14 family 
members and friends in the Garden stands. 

“That’s all tire tickets tire Knkks would 
give me,” he said Thursday, after practice at 
the Downtown Athletic Club. “And their 
seats are so far up that I can’t see them. So 


for me, it’s like playing on the road, or Sam Cassell, the rookie who has been jors.butlsupm^tb^'SSt'Spw- 
somewhereelse. . Houston s most effccuve guaid and Smith’s urn thing is thefcret that it has been 

Smith says his problems begin with the frequent replacement, said the Knicks’ guards « prwj « ft has been to me” 
nickY defense in the interior, or the way contest tire first pass, winch makes it awfully at^ , more tnrtlim t at 
ey double-team on the Rocket center, one hard to start a play. Then they deny the pass al PalmSsrid- “I 

skeem the Dream. to the wings, or forwards, which makes it hard think that is about all I have tn «v 

“It’s hard to get the ball inside, so now I to get the ball into the center. And then when Thank you verv much ” 
ve to hold the ball longer,” be said. the center finds himself packed in like a He walked across the interview 
^ « cause indieestion. 

ard and New York native vdio has been Harper, though, must be singled out. He several hundred reporters, paused 
ringhtsproblems.as well, sa*?Ve vegot ^ p Ul g real pressure on Smith — some- to collect himself, then lifted the 
down their . d ®f ens€ * ** vc 8 ol >® thing Harper has done his whole career since tent flap and left with a wave but 
oetrate more, and Kenny has to lead playing with Dallas — and has often had his without looking bade. 

a „ . . „ , . . . number. To be sure. Smith is not alone. While Palmer was leaving, the 

When Maxwrij took a rest from being on Harper's quick hands and, more important two men who followed him as the 

utbs case. Eire added his two c*nls fflr a defen ^ p , ayer ^ qukk feeL have b«t^fer in the world l-Nicfclaus 

T told him, there’s Harper smilin' and g V ? e , ^ n : V f .« uards beadaches ‘ ^ d ,hat in : Sj 

? mf0i r " ^ hE ' S 5 S ""‘ K '° ny played b» 

?££$&LWSSl!2L a* ^ pou,, b. uj- g ^ tSSSSII 

;*ve got to turn that around and do the Armstrong and Haywoode Workman off f d ’ ta ^ 

ne thing. It’s gotta be 94 feet of hell for their games in the Bulls’ and Pacers’ series. T hSdaU*SeS« « ^ 
an like they make it for us. Few players alone stop another player in lcrdavand St am S 

'And. look, it’s not just one guy. cither, the NBA, the individual offensive skills being t hjnp .. v? *». 

> all of us. We’ve been playing a little too so greaL It is usually done by team defense. j[^nn it” ^ 

save. They’re aggressive for 48 minutes. And ft was Anderson who. during the earlier w»t«m whn 77 

cy don’t give you nothin’. They don’t let Net-Knidc series, said, “It’s the Knicks’ abili- _ . V f “K- tL 

li run yom sttrff.” ty to rotate on defense that kills you.” ^ 


“I think you all pretty much 
know how I fed,” be said. “It is 40 
years of fun. work, enjoyment.” 

He buried his bead in a towel, 
wiping away sweat and tears. 

“I have won a few tournaments,” 
Palmer said. “I have won some ma- 
jors, but I suppose, the most impor- 


KnickY defense in the interior, or the way contest the first pass, which makes it awfully 
they double-team on the Rocket center, one hard to start a play. Then they deny the pass 
Hakeem the Dream. to the wings, or forwards, which makes it hard 

“It’s hard to get the ball inside, so now I to get the ball into the center. And then when 
have to hold the ball longer,” be said. the center finds himself packed in like a 
Others, tike Mario Hie. another Rocket sardine, this can cause indi ges tion 
guard and New York native whobas been Haipcr , though, must b£ singled out. He 
faavmg his problems as weU. said. “Wc v C got ^ m prESSUrc 0n aStb - some- 
robrrok down then defense, we ve got to tiring Harper has done his whole career since 
peuettate more, and Kenny has to lead playing with Dallas —and has often had his 


penetrate more, and Kenny has to lead 
that.” 

When Maxwell took a rest from being on 
Smith’s case, E lie added his two cents’ 
worth. 

“I told him, there’s Harper smilin' and 


number. To be sure. Smith is not alone. 
Harper's quick hands and, more important 
for a defensive player, his quick feet have 
given many guards headaches. And that in- 


langjrin’ and bong comfortable. And he’s Smith s cousin, Kenny Anderson of 
been hand-checking Kenny all up and down Nels - 

the court. He picks him up a( Full court- Bui he also threw the point guards B. J. 


We’ve got to turn that around and do the Armstrong and Haywoode Workman off 
same thing, lfs gotta be 94 feet of hell for their games in the Bulls’ and Pacers’ series, 
them like they make it for us. Few players alone stop another player in 

“And. look, it’s not just one guy. cither, the NBA, the individual offensive skills being 
It’s all erf us. We’ve been playing a little too » great- It is usually done by team defense, 
passive. They’re aggressive for 48 minutes. And ft was Anderson who, during the earlier 
They don’t give you nothin’. They don’t let Net-Knidc series, said, “It’s the Knicks’ abtli- 



you run your stuff.' 


ty to rotate on defense that kills you.' 


Lewb-Bowe Title Bout Set for Winter 

LONDON — Lennox Lewis, the WBC heavyweight champion, is to 
make a S31 nrifiico defense of his title in Las Vegas against former 
champion Riddick Bowe, it was announced Friday. 

Lewis’s manager, Frank Maloney, announced the deal after negotia- 
tions fell through for a unification bout with JBF and WBA champion 
Michad Moorcr. Rode Newman, Bowie's manager, said tire fight would 
be held between the first week in November and the first week in 
December. 

The Lewis-Bo we bout is contingent on Lewis's successful defense 
dgaind mandatory challenger Oliver McCall on Sept 23. Bowe is also 
expected to have-at least one fight before meeting Lewis. 


RedWings’ Fedorov 
Named NHL’s MVP 


The Associated Pros player to win two awards, the New 

TORONTO — Sergei Fedorov Jersey Devils were the only team to 
couldn’t have asked for a better get two trophies. The goalkeeper 


endorsement. 


Martin Brodeur won the Colder 


His crowning as the National Trophy as lop rookie, and Jacques 
ockev League's most valuable Lemaire won the Jack Adams Tro- 


Hockey League's most valuable Lemaire won the Jack Adams Tro- 
player Thursday night was given phy as top coach, 
the approval by Wayne Gretzky, The closest voting was for top 


trim rolls Out OI Federation Lup Who has won the Hart Memorial defenseman. Ray Bourque of the 

V Troohv nine times since 1981. Boston Bruins outnoDed Scott Ste- 


BONN — Steffi Graf, the top-ranked women’s tennis player, has taken 
herself off Germany's team for the Federation Cup next month, she said 


Friday; because she is too tired. 

“Mydcriaon Iras beat dictated by the fact that I Vegot to have a long 

period erf rest, so that I don’t get beaten as I have been in recent weeks.” 


v ;■'> 7 


•.Yevgeny Kafelniko v, the 20-year-old Russian who has shot from 
109thto l9thin the men’s rankings in his second season on the tour, beat 
Jtm-Comter^ last year’s Wimbledon finalist. 6-1, 6-4 to reach the seurifi- 
nalsaftte Halle Grand Prix. fdP) 

For the Record 

Stattgarft hrerative athletics meeting, scheduled for August, has been 
called off because of contractual difficiilties, the organizer said. (Reusers) 
The US, Cyc&ag Federation signed contracts to acquire the U.S. 
Professional Cycling Federation and became the sole officially recog- 
nized gov erning body for the sport in the United States. (AP) 

Quotable 

• Chate Snrith of the New York KJucks, on the Houston Rockets’ 
Vernon MaxwdI: "When Vernon gets all riled up, you see his eyes get aD 
big, andthat's the tune to pressure him because you know he’s going to do 


Trophy nine times since 1981. Boston Bruins outpoDed Scott Sle- 
“Serf»ei is a tremendous individ- vens of the Devils, 199-195, to win 
ual,” said Gretzky. “He’s first class, the Norris a fifth time. Only two 
The future of our game rests in rite players — Bobby Ojt, who won it 
hands of players like Sergei” eight times, and Doug Harvey, who 
Fedorov almost bl ush ed when won it seven— have their names on 
{retrod about sitting poolside at this trophy more often. 


G retzky ’s house in Los Angeles Domimk Hasek of the Buffalo 
Ai ri ng a two-week visit. Sabres won tire Verina Trophy for 

“It was such a pleasure to be best goaltender. His 
there,” said Fedorov. “It was fan- average of 1.95 was 
tastic.” 2.00 average since 

The Detroit Red Wings’ center. Banie Parent’s a vera 
24, also won the Frank Selke Tro- Gretzky, of the 


average of 1.95 was the first sub- 
2.00 average since Philadelphia’s 
Bemie Parent’s average in 1973-74. 
Gretzky, erf the Los Angeles 


• Maxwell on Ms controversial image: “Yeah, I'm comfortable with 
the notoriety except when Fm going to jafl.” . 

* • OuM Webber of the Golden State Warriors, the NBA rookie of the 
year whohM sbme loftier gpab, snch as being deewd mayor erf Detroit: 
‘TUprobaNy have to wail until Fm in my 40s.” 


Every Wednesday 
•Contact Philip Oma 
Tei.: (331)46 37 93 36 
Fax: (33 1 ) 46 379370 

or Your nearest IHT ottice 


phy as the top defensive forward. Kings, was presented a fourth time 
Add to that a first-team all-star WIth ^dy ®y°B Trophy as 
selection and the Lester B. Pearson mort genUemanly player. 

Award as the league’s most valu- . yw gel older, you apwe- 
aMe {rfayer as sdrcted by the other things like tins even more, he 

^2!?^ . ... « , Cam Neely of the Bruins won the 

^Tbis means a lot to me, he Masterton for perseverance, 

saK3 ' sportsmanship and dedication. He 

It also means S400.000 to his scored 50 goals in only 49 games 
podeetbook. Fedorov’s contract after battling back from leg inju- 
caHs for a $100,000 bonus for each ries. 

individual award. His 1994-95 sala- Joming Fedorov, Bourque, Sie- 
ry will be revised to reflect as much, vens and Hasek on the first all -star 
He was the first Russian to win squad were right-winger Pavel Bure 
the Hart, and the first Red Wing of the Vancouver Canucks and left- 
pnn- Gordie Howe in 1963. winger Brendan Shanahan of the 
While Fedorov was the only Sl Louis Blues. 


HeralhZ 3 rtbunc 

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Williams Mum 
About Mansell 

The Associated Press 

DIDCOT, England — The 
Williams team appeared to 
leave open the possibility Fri- 
day that Nigel Mansell could 
still make a return to Formula 
One at the French Grand Prix 
next month. 

The team released a state- 
ment saying that no an- 
nouncement on its lineup of 
drivers for the July 3 race 
would be made until the week 
of the race. A Williams 
spokeswoman would not elab- 
orate on the statement. 

The statement came as 
Mansell returned to the Unit- 
ed States after a five-day visit 
to England. It was widely 
speculated last week that the 
visit would culminate with the 
announcement of Mansell's 
return to die Williams team 
for some races this season. 

Team officials and Man- 
sell’s press aide said they knew 
of no meetings planned be- 
tween Mansell and the team 
chairman, Frank Williams, 
during the visit. 


ESCORTS & GUIDES 

BELGRAVIA 

ORCHIDS 


Watson, who needed only 27 
putts in the fust round, used $6 on 
Friday and was at 141. 

“I let a good score get away to- 
day,” he said. “I missed a lot of 
good birdie putts” 

Nicklaus, who birdied three of 
four boles and was at 5 under for 
the tournament after five holes Fri- 
day, briefly held the lead alone be- 
fore falling back to 4 under. 

About a third of the field was 
still on the course, including Curtis 
Stra ng e. Ernie Els and Jeff Sluman, 
all of whom were under par, but 
none better than Irwin and Cook. 

Irwin, who saved par with putts 
of 15. 4 and 8 feet on the first three 
holes, eagled the 452-yard par-5 9th 
hole when be hit a 2-iron to 6 feet. 

“Then it went to lunch,” Irwin 
said. ‘T was pumped from the pre- 
vious hole and lost my concentra- 
tion on 10.” 

He hit a 3-wood off the tee into 
“a very bad lie” in the deep rough, 
punched into ihe fairway, pitched 
on 40 feet away and three-putted. 

“It was a very sobering 6,” Irwin 
said. “The roll I had going was 
terminally stopped.” 

Nothing got in the way of Code 
all day. He made six birdies and no 
bogeys ou his way to a 65, a score 
that seemed impossible the way the 
course has played wiitb its thick 
rough and slippery greens. 

“I didn’t think 65 was possible, 
not this year.” Cook said. But he hit 
14 greens in regulation and needed 
only 26 putts. 

With the 36-bole cot likely to be 


Dim Fmfl-' A cokz Frucr-IVeuc 

Jack Niddans completed a first-round 69 with a birdie on (he 18flt 

Scores for the First Round 

PtmA al »* w-n OOkmwt Countrr CM course ta PcmylvMla; Alums US. unless 
noM. a • amateur, Cpttr momtded doe to UaftMoo win U ooHon sm on course): 


Tom wmson, a 
Jack Nfckhm « 

Emlo Eta. South Africa. « 


Mike Sadnaer. it 
orin Browne. 74 
Ed Humenlk. 74 


Frank Nottla.NewZemond.49 Duffy Waldorf. 74 


Hale Irwin, M Dovfd Oortrv 74 

Jumbo Ozskl. Jcnan. TO ma* smHtt. 74 
Curtis Stranoo. TO Michael Bradley, 74 

Scott vorptonfc 70 Psyw Stewart. 74 

Kirk Triplett, 70 Steahen Fiesch. 74 

Colin M mt im ne rt fcBrtfofcvTl Jim Furyfc. 74 
Holtme MeWOef. Jaoan, 71 $a«i Randolph. 74 
Oort Demis, 7T Fred Funk. 74 

Ben Crenshaw. 71 Mike Hufbert, 74 

Mark CnleoveceWa. 71 stove Pale, 74 

Dan wahMiiti 71 Jim Gatiaaner, 74 

Mark Wurte, 71 Sfvwan Rtchardsan, 1 

Dovo Rum melts, 71 Dovts Lave, 74 

Oreo Mormon. Australia 71 scatt Simpson, it 
BratUev Huones, Australia n pg^ Omios. 74 


Fred Funk, 74 
Mike timber!, 74 
Stove Pale, 74 
Jim Gailagtier, 74 


Arden Knoll, 77 

Eric Johnson. 77 

Tom Lahman 77 

Lea Janzeft, 77 

Amok) Palmer. 77 

JccMmHaewmwv Sweden 77 

John Morse. 77 

Trew Dodds. South Africa 77 

Constantine Roam, Italy, 77 

Ian Woosnam, Britain, 77 

Larry Mize, 77 

Barry Lane. 77 

Coray Povin. 7B 

Bos Twov. 7B 

Mick Soli, 70 


Stvwai Richardson, Britan 74 Bob Fr Iona 71 


Jim Thorpe, 71 

Stove Lowery, 71 

Jeff Moooerr. 7t 

Scott Hoch. 73 

Emtm Aubrey. 73 

Jeff SJumon. 72 

B- Longer. Germany. 72 

Mar* OTMoora, 73 

Sam Torrance. Britain, 73 

Seve Ballesteros, Spam, 73 

HU9h Royer, 72 


Lorry Nelson. 75 

Jay Horn, 75 

o-Suddv Alexander. 75 

Mike Sullivan, 75 

Mart Comevale. 75 

Pout SfankowsM. 73 

John Adams, 75 

Marie Brooks, 75 

Nolan Henke, 75 

PMI MKkeison. 7S 

Wayne Grady, Australia 75 


David Frost, south Africa 73 Bart Bryant, 74 


Fred Quotes, 72 
Mark Lve. 73 
David Bergen! d. 73 
Nick Ftdda BrttoUv 73 
Tom Kite. 73 
Odp Beck. 73 
David Edwards, 73 
Lsnnle Clements 73 
Tommy Armour, 73 
Prior Baker. Britain, 73 
Brad Fcxoa73 
Jim McGovern, 73 
John Cook. 73 


Doua Mania 74 
Harry Taylor, 74 
Nick Pries. Zimbabwe. 74 
Robert Gamez, 74 
Bill Britton, K 
Brad Bryant, 74 
Ken Green, 74 
Billy Mayfair. 74 
John Huston. 74 
Fuzzy zoeiier, »4 
Rocco Mediate. 74 


Andy North. TO 
Gary Holttmra 7B 
Howard T witty. 78 
John Stacey, TO 
o-Ouke Delctier. TO 
Oiris Perry, TO 
Ride Fefir. TO 
Crolo Parry. Australia. TO 

John Matioffey, to 
C nda Stodler. TO 
Darren Clarke, Britain. TO 
Jay Don Blake. 79 
Gil Morgan, 79 
Brian Komm, 79 
Mos uh tf o KuramnlaJQPOtv79 
P if. Homan, 79 
Frank Lidu M et Jr„ 79 
Javier Sanchez, 79 
Tim Simoson. 79 
a-John Harris. 79 
Mike Grant. BO 
Mark Mleike, SB 
□avid umdstrom, B 0 
Johnny Miner. B1 
John Daly, St 
Packard Dewitt, fll 
o-Randv Sonnier, B2 


JaseMa’toOkBoM.SoaiaTO Chris Hoariom 92 


Loren Roberts, 74 


Gordon Brand Jr„ Britain, 73 Wayne tevt 74 


Fulton Attorn, 73 
South Africa. 73 


Michael Allen, 77 
Mike SmolL77 


Michael Weeks, S3 
Mark Mason. S3 
I Si Beicer-FliKh. Australia, B3 
Chris Potion {withdrew) 


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Page 22 


INTERNATIONAL HERALD TRIBUNE, SATURDAY -SUNDAY, JUNE 18-19, 3 


SPORTS 


For One Jersey Town. 




in the Azzurri Lime 


As Tickets 


By Iver Peterson 

Se* York Times Service 

MARTINSVILLE. New Jersey —This 
little village on a south-racing bench of 
.the Watchung Mountains has been in a 
-tizzy since the Italian national soccer 
team, training for the World Cup. settled 
into its camp behind a cordon of security 
guards and yellow police ribbon at the 
Prngry boarding school near here. 

. The tight security, foreclosing even a 
glimpse of Roberto Baggio or Franco 
Baresi or any other paragon of the Az- 
zurri, as the team is known, did not deter 
carloads of sightseeing Italians. Italian- 
Arnericans, and, for some reason. Brazil- 
ians who daily make the pilgrimage to 
central New Jersey in search of their 
heroes. 

“Well, I guess it’s a big deal, even if 
you’re not crazy about soccer.” said Craig 
Licwinko, 16, a baseball player at Bridge- 
waier-Raritan High School. “It’s boring, 
there’s no contact, sometimes they don’t 
even score. But the people coming in are 


real turned on to it, and nothing like this 
has ever happened to us before, having a 
national team way out here.” 

But Scott and Sal Longo. brother's in 
their 20 s who have been playing soccer 
since fourth grade in the Bridgewater 
Soccer Association, look forward to 
World Cup play. 

“Americans think there's nothing hap- 
pening." said Sal Longo. who operates a 
car-care service with his brother. "They 
don't want a one-nothing game, they 
want to see hits, they want things happen- 
ing. But I think this is going to be like a 
culture shock when they see their own 
people from back home, coming over and 
reminding them about how great this 
game can be.” 

Still the Norwegians are practicing at 
Princeton University, and the only evi- 
dence of interest amid the ivy and the 
traffic on Nassau Street is a solitary Nor- 
wegian Bag, drooping in the heat over 

Woolworth’s. , . . 

What has Martinsville and the rest of 


New Jersey in a fever ts a first-round 
match between the state's two dominant 
ethnic groups, the Italians and the Irish, 
on Saturday at Giants Stadium. It is cou- 
sinly competition within the Roman 
Catholic family right out of a John 
O'Hara story, “a match made in heaven, 
said George R. Zoffinger. co-chairman of 
the New Jersey World Cup Host Com- 
mittee. 

Tiny Martinsville, pan of Bridgewater 
Township, has the green, white and red 
Italian flags draped from a dozen stores 
and .standards. The Italian players are 
cocooned at the Pingiy School and at the 
nearby Somerset Hills Hotel in Warren. 
Not until Friday, the eve of their match 
against Ireland, were they to venture to 
Giants Stadium to work oul 

They are protected not so much from 

terrorists (although that is a concern) as 
from the tifosi. their fans. When some 
players needed haircuts, the team brought 
in Sal Longo Sr., a local barber and the 
father of Scott and Sal. to do the cutting. 


It’s Unthinkable! Dublin May Be a Desert Today 


Reuters 

DUBLIN — Soccer faa drinkers here 
thirsting for World Cup celebrations Sat- 
urday may have to go dry. 


Employees of the city's bars have an- 
nouncing strike plans, over pay, that are 
limed to sabotage one of the biggest par- 
ties Dublin has seen in decades. 


As their dispute headed toward injury 
time; managers warned that the unthink- 
able may happen: Dublin's pubs may 
have to shut their doors to drinkers just 
before the Republic of Ireland kicks off 
against Italy in its first World Cup match 
in New York. 

A strike would close hundreds of pubs 


where drinkers had hoped to watch the 
match on television, although some non- 
union taverns outside the dispute would 
stay open. 

Representatives of the bar workers' 
union. Mandate, and the Licensed Vint- 
ners Association meL on Friday to seek a 
settlement, but managers said they were 
worried. 

The stoppage would affect pubs and 
clubs in the Dublin area, where more 
than a million of the country's 3 million 
people live, but is unlikely to spoil the 
party in rural areas. 

The strike, if it is held, is expected to 
last some time and managers say grudg- 
ingiv that though “no 0116 wants lo 


strike’’ their staffs feel entitled to the 
money that Mandate, which represents 
3.000 employees, is trying to win. 

Mandate members, by a 98 percent 
majority, voted last week" to strike after a 
breakdown of pay and condition talks. 
Thev are to hold a meeting on Saturday 
morning to decide whether to go ahead. 

The union is demanding a I percent 
pay increase pledged las: October under a 
national wage agreement, plus overtime 
for hours worked cleaning up bars after 
midnight, when most close. The union 
claims bar employees often work unpaid 
until the small hours to get pubs clean for 
the following day. 


rather than letting the Azzurri loose in 
even a small village like this one. 

So Orazio Falcone, owner of Mike's 
pizza, has settled for pampering Italian 
reporters in his restaurant. The sports- 
writers are. if not kings themselves, at 
least royal retainers who can command 
special handling by Falcone 

"They want everything special, 7 ' Fal- 
cone said. “We try to give it to them.” 

The dollars the visitors pay for Fal- 
cone's fried calamari. his vitdlo profuma 
de'Sicilia, and his stuffed eggplant are 
early droplets in an 5800 million river of 
tourist-spending that the World Cup visi- 
tors are expected to leave in New Jersey 
during the five-week tournament. 

The money is welcome in a slate recov- 
ering from recession, but any pleasure 
New Jerseyans may get from tourist cash 
has been bruised by a feeling that the 
World Cup management has treated the 
slate as an appendage of New York. 

The mailer of New Jersey’s pride of 
place came to a boil earber this year when 
the U.S. Postal Service issued a packet of 
commemorative World Cup stamps hon- 
oring New York's role in the competition 
and ignoring New Jersey's. 

Not a single ball will be kicked in 
international competition in New York, 
while Giants Stadium in the New Jersey 
Meadowlands wfll be host to seven 
games, including a semifinal. Governor 
Christie Whitman demanded satisfaction 
from the Postal Service, and peace was 
restored when the service announced it 
would make the first issuance and cancel- 
lations of the stamps at East Rutherford 
two weeks ago. 

Bui another kind of satisfaction is be- 
ing felt by others in New Jersey. Craig 
Siaskewicz, 35, who works for the Longo 
brothers (but does not play soccer), sard 
the coming of the World Cup to the 
United Slates, and the hallowed Azzurn 
to Martinsville, had given a lift to his 
friends from soccer-playing countries. 




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Luca BnmofTbe Aaoamd Pita 

I a shot at Italy’s camp in Maitinsvffle, New Jersey. 


Italy’s Baggio: Portrait oi an Artist in Search of a Masterpiece 

J ... . same breath as. say. Diego Mara- and sold Baggio to Jovaims of ' 


By William Gildea 

Washington Post Service 

MARTINSVILLE New Jersey 
— His eyes are green, his skin olive 
and tanned. Unlike most American 
athletes, he is small, slim-shoul- 
dered, almost frail-looking, not 
even the size of many everyday 
people you see on the street. 

He stands only 5 feet 7 ( 1 ,70me- 
ters) and weighs just 159 pounds 
(71 kilograms). But on almost any 
street in Europe, Roberto Baggio, 
27, stands out — and not because 
of the pony tail that hangs from his 
otherwise clipped, dark hair. It’s 
because he is the greatest soccer 
player in Italy, possibly the world. 

He is the man, according to Pele, 
who can lift Italy’s good team to 
greatness. 

One day last week, as teammates 


practiced, romping like finely 
honed colts on a" lush, green prac- 
tice field behind the Pingiy School 
in northern New Jersey. Baggio re- 
mained on the sideline, resting a 
strained Achilles tendon. 

He's like a prized thoroughbred 
or an exquisite teacup, which both 
damag e easily. Physical ailments 
have always seemed a threat to 
Baggio's stardom. On this day, he 
loots serene but he admits being 
concerned. He's been in a scoring 
slump — several games with the 
national team and no goals. 

“It's weird,” he said. The trouble 
comes at a bad time, with Italy 
about to begin play in the World 
Cup on Saturday against Ireland at 
Giants Stadium. 

Baggio said that he needed more 
room to roam in Italy's offensive 
scheme, that he was crowded play- 


ing as the center of three forwards 
in a formation that the coach. Ar- 
rigo Sacchi. has installed to replace 
the traditional two forwards. 

Baggio hastens to add that he 
agrees with Sacchi, but at the same 
time issues what seems a warning. 

Alluding to the second round of 
the tournament, he said: “I hope 
that in the future they have a little 
more space for me. Now it is not so 
important that 1 do not have so 
much space, but in the future it 
could be a problem. It is still early. 
The important thing now is that I 
am serving the team, and that the 
team goes forward into the second 
round." 

Ah, Baggio, a humble man, they 
say in Italy, a team player. But an 
Italian journalist has another ques- 
tion for Baggio, who is wearing his 
Italia cap backward and white ath- 


letic shoes without laces, crumpling 
the backs or the shoes with his 
heels. He is sitting on a sofa in a 
tent near the practice field. A group 
of Italian writers and two Ameri- 
cans are gathered about him. Two 
Italians interpret. The question: 
“Roberto, would you be happy if 
vou don't score but simply serve 
the others and the team wins the 
World Cup?" 

Baggio shrugs, and a smile plays 
at his lips. And now we find out 
what’s on his mind. 

“Wen," be says, “the best thing 
to do is to find the type of play to 
make Italy win the World Cup and 
maybe Baggio be the best player." 

So it is that an Italian artist who 
wants no shackles, just freedom to 
create, has come to America seek- 
ing to certify his brilliance on the 
world stage, to be spoken of in the 


same breath as, say, Diego 
dona. Too many people have sug- 
gested that Baggio has not yet war- 
ranted such comparison. 

The most stinging comment c am e 


from the former neat French player 
mi. He said Baggio had 


Michel Platini. 

not yet earned his No. 10 jersey. 
“He's stDl a 9V4." Platini said. 
Baggio wants to forge an unqual- 
ified reputation — and, of course, 
reap the fortune that comes with it. 

“Bag-gio! Bag-gio!" That's the 
ay beard in the leafy New Jersey 
neighborhood whenever the Italian 
bus shuttles back and forth be- 
tween the practice field and the 
hotel They've learned about Bag- 
gio here. In Italy be is regarded as a 

monument to the sport. So when 
the Fiorentina club team in Flor- 
ence did the unthinkable in 1990 


jJovenms of Tu- 
rin for a then-record S12 million 
transfer fee, there were riots for 
several nights in Florence. 

Baggio had come to love Flor- 
ence: in the first game between the 
two teams, in Florence, he refused 
to talr#* a penalty kick. Juventus 
fans couldn’t believe h, especially 
after another player missed the 
kick. Baggio is not always under- 
stood bwrns fans. 

Baggio said the Italian team's 


Veterans Fill 
Italian and 
Irish lineups 


major problem was getting every- 


CompdedbyOur Staff From Dispatcher 

EAST RUTHERFORD, New 
Jersey— The Italian coach, Anigo 
Sacchi, on Friday unexpectedly 
named Roberto Donadom, the vet- 
eran AC Milan midfielder, to the 
starting lineup for Saturday’s 
World Cop match against Ireland 
at Giants Stadium. 

Sacchi named the following 11 


UIUCJ UIV — _ 4_ . y • 

tuiets to the three games ty 0** -v. 
been offered by tfift^rfgawzert V . 
limited supplies last year. A* 

“$ I,75d? who the hefl ts gpmgj^ 

pay that in La Angdes wwnw» . ' “ y 

recovering from eantauakes, .*v 
and a bad economy?* sod 
Ross; co-owner trf Front Row . 

ter Tickers -in Los 
“They’re engaged art legalized v 

— i-i— >" ..•••• - 

those springing -far- 

are supplied no mfbr- . . 

die specific location of 
their seats until me rideets arriwwt > : 
their homes by overnigh t iraaL Tasfo ~ ■ 
week, a class-action lawsmt vvas. ,:^: 
fikdinOrit^ onbdjaffof .tkSefr. : v . .. 
bddera whodaimlhal after payfer ;7 
for top-end tkfcets, they rM^vtd '. r 
s—m at the .far; carters of Soldier 
Field* : 



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Fff 


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cr*-V r - 

:--sr 

“ - 
Hi* fi— - 

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one "iuu percent" by Saturday. 

“We've gra IO talk more on the Worid 

pilot- he added .“I hke to play M, uro Tas- 

"d. Paolo Bwa 

alo^orhow much room 1 have sol Al^androCostacv^Fjenco 
can choose, to pass or to go straight Barest, Doiiadom,_pemetno7Wber- 


for the goal/ 


New Breed ’Keepers 
Will Keep Foes, and 
Teammates, on Toes 


The Aaodated Press 

NEW YORK — Some love to fly 
from post to post and rarely stray 
from the goal Others prefer to sally 
forth and block the play, using 
their feet instead of their hands. 

The contrast between the tradi- 
tional goalkeeper and the goalkeep- 
er-player is far from new. But in the 
• World Cup, it will be more in evi- 
dence than ever before. 

While Argentina’s Sergio Goyco- 
chea and Italy’s Gianluca Pagliaro 
seem tied to the goalline, Mexico's 
Jorge Campos and Colombia’s Os- 
car Cdrdoba play most of the game 
outside the peialty area. 

And keepers like Michel Preud- 
Tiomme of Belgium, Andoni Zubi- 
zarreta of Spam or Carla Trucco 
of Bolivia prefer a cautious, mid- 
dle-of-the-road attitude between 
the two styles. 

Campos and COrdoba are the 
chief exponents of the go-forward 
style, which has gained growing 
numbers of converts since rules 
were changed to ban the keeper 
from handling backpasses. 

“Campos is the model goalkeep- 
er of the 21st century,” said Cfear 
Menotti, coach of 1978 World Cup 


Japan Star Miura 
Will Play a Year 
For Italy’s Genoa 


The Associated Press 

TOKYO — Japan’s best-known 
soccer star, Kazuyoshi Miura, said 
Friday be will leave Japan's profes- 
sional league for a year to play for 
the Italian first division team Gen- 


oa. 


Miura, who helped the profes- 
sional J-League become a hit in 
Japan after it was launched last 
year, told a news conference he will 
leave the Verdy Kawasaki team 
next month. 

“1 will try my best as a represen- 
tative of Japan and Asia,” said 


champion Argentina after seeing 
Campos play in the 1993 Copa 
America. 

The Mexican keeper, who some- 
times joins the attack, is so far the 
mat skilled of the field-playing 
goalkeepers. He plays fullback out- 
side the penalty area for mat of the 
game. 

This development affects the 
play, leaving a defender free to join 
the midfield or the attack and put 
more pressure on the opposing 
team- 

On the other hand, keepers like 
Campos and COrdoba are vulnera- 
ble to long high balls, which force 
them to scramble back to the penal- 
ty area. 

An error usually means a goal. In 
the 1990 Worid Cup, Cameroon 
forward Roger Mil la stole the ball 
from Rent Higuita and scored to 
eliminate Colombia from the tour- 
nament. 

Higuita was left off the Colom- 
bia national team this year after 
being convicted of acting as a medi- 
ator to obtain the release of a kid- 
napped girl Negotiating with kid- 
nappers is illegal in Colombia. 

But Cameroon has picked up on 
the Higuita style, having their own 
Joseph Bell, who despite being 39 
likes to leave his goal as much as 
the youngsters. 

Brazil’s Taffarel and Switzer- 
land’s Marco Pascolo rarely ven- 
ture from the line. 

Romania’s Florian Prunea and 
Sweden's Thomas RaveQi belong to 
the “sally forth” school, said Carla 
Bilarda who coached Argentina to 
1986 Wald Cup title. 

“A goalkeeper should stick to his 
style, as long as the ball doesn't 
cross the goalline," Bilardo said re- 
calling 1978 Argentinian keeper 
FiBoL “Frilol always remained be- 
tween the goalposts, but he always 
caught the ball.” 

A stark difference between the 
go-forward keepers and his more 
traditional counterpart is his abtlt'- 


In Steamy Florida, Morocco-Bdgian Rivalry' Heats Up 


The Associated Tk m 

DAYTONA BE\CH, Florida — The 
Florida heat has been compounded by some 
heated criticism of the Belgian national team 
by Morocco’s Nacer Abdellah, providing an 
added flare ahead of ihe Belgium- Morocco 
game Sunday in Orlando. 

If facing underdog Morocco could not ex- 
cite the Belgians, Abdellah, who plays club 
socccwr in Belgium, certainly did with sneer- 
ing comments about Belgian players. 

“If this won't get them going, then they 
wouldn’t be real sportsmen,” sad the Belgian 
coach. Paul van Himst, holding a copy a 


newspaper report of Abdellah's criticism.^ 
"Even my grandmother can outrun him." 
the Belgian daily Het Volk quoted Abdellah 
as saying of theVteran defender Michel De 
WolL “Our forwards will have fun." 

“It pleases me," said Van Himst. expecting 
the comments to inspire his players. 

In another interview, the Moroccan player 
talked about intimidating the Croatian-born 
striker Josip Weber with kicks to the shins 
and comments about the war in the Balkans. 

“He cannot stand that you kick at him and 
talk to him," Abdellah told the Belgian weekly 
Hurao. "He’s got a lot of problems in his native 
country and you have to wok on that.” 


It is repulsive.” said Van Himst. "You'd 
think his place should not be in soccer." 

Weber was naturalized in March after mov- 
ing to Belgium with his family six years ago, 
and be has galvanized the Belgian offense. 

With Weber providing depth as an opportu- 
nistic all-out sinker. Van Himst has positioned 
two forwards behind him and put the offense- 
minded playmaker Enzo Scifo in midfield. 

During a successful preparation campaign. 
Belgium beat Zambia, 9-0, and Hungary, 3-1, 
with Weber scoring six limes in the two 
games. The team has continued to pile on the 
goals during exhibition matches here. 



fori, Giuseppe Signori, Roberto 
Baggio and Alberico EvanL • 

That combination of players has 
never played in a Wald Cup qnaH- 
fying or warmup matches. 

Sacchi said it was the best mid- 
field configuration for matches 
against physical opponents with 
strong stylo of play. 

“It's a kind of choice that guar- 
antees the team a flexibility of 
schemes during the match,” Sacchi 
said after Italy's Gnal warmup at 
the stadium. 

There had been much talk in the 

past few days about the possibility 
that Inter Milan’s Nicola Berti or 
AC Milan’s Danide Massaro could 
start as midfielder-forward. 

Under the announce! plan, 
Donadoni will team with Dino 
Baggio, Albertini and Evahi at 
midfield and will support Roberto 
Baggio and Signori in front. 

Donadoni, 30, a veteran with 50 
caps, was akey player in AC Milan’s 
triumphs in the Italian League and 
in the Champions’ Cup this year. 

The Irish coach. Jack Chariton, 
on Friday put his faith in experi- 
ence fa the match. 

Denis Irwin and Ray Houghton 
were picked instead of the younger 
players Gary Kelly and Jason 
McAteer, a selection Charlton ad- 
mitted had been "difficult” 

“It was tempting to play one oi 
the young lads but how can you 
leave Denis Irwin out?" he said. 
“He was voted the best fullback in 


day that -there were still several' . - " 
Kimdred tidatsirTfwming ktTkfe- : / 
canaster outlets for" most ekrijiv ; ■ j 
round games at nine ‘venues across j 
the nation, including Saturday's ' . 
opening game at the - Rose Bowl 
rbetweea 

Xargo* face^vame 

Sunday’s CamcroCttt-Swtden con- 
test at the Rose Boat ihe Rnssufc ' -^ 
CanKio<mgaiiMiaPrio A3to, C% . . .. 
format on June 28 andtWJ^ariy - 
round games in both. Dallas and-./" - 
Detroit. • • ■■ ’ V . 

Meanwhile, ticket brokers *#. ■=■ 
individual specohiiars ore report- / 
ing a relativdy softmaricelfor seals ' 
for many of the 52 games. . 

“I wouldn't oactiysay-tbere's a 
glut of tickets, but mere . 

nhdy some extra seats,** md .KSt '. •••. 
Solby, owner of Derimer Udoetsdt . 
Tours, a broker in Sherman Oaks,' 
Calif ornia. • ' - > 

Sergio Tonico/ a Los Angcfea^C . 
travel agent, said his company bad /5 
50 tickets left foramda ysCg re^^- 
ooa-Swedcn game that were ;asv . 
dered last year before it; wastapm;. . 
what the team matdnms wadd . 
With sales slow, Tomoo has 
so far as to call the Swedish 
ate for advice, but has stiRiML: , 
unable to locate , takers.' l 


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with only a $5 profit, ffi c b l kn fr . 
believable," Is 


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England last year." 

'kellys one for the future. 


Sdksma/nc AMkiiifd Pre« 


“Gaiy K 
but there are two more first round 
games to go and I’m sure they'll all 
get to play," he added. 

Charlton laughed off suggestions 
that Sacchi might be scared of the 
Irish, and said he was not con- 
vinced the Italian's intention to re- 
vert to a 4-4-2 formation. 

“HI be even more surprised to- 
morrow if he plays it," he said. 

Charlton said the heat and hu- 
midity would be problems. 

“When’re they're running about 
at the 
row, 


sakL“Buj . 

just no interest.” ~ 

World Cup officials had. 
ously announced sellouts of allbat ;- 
14 erf the 52 games this sumratt / 1 *[ ! - ^ 

But the ticketing director, Maria Ej ^ . ^ ^ - - 

Messing, said that “several Tnm^. / j.. T . .. 

dred M ncketshad became avafl^Sr/ ^ - -. L 
through the ogamzera to motcc^ ;•* 

tests at the Rose Bow! and other; 
sites in recent days because: w ;*? C-,"/' 

“checks that bounad and ticket / ;. S*ia>*L 
returned at the last minute." v. . . ^ 

“In a 99,000-seat stadium that's- : : > 1|5 . 

not very mamr," Messmg'saiJtdf?^ / 
the Rose Bowl which has a soccer ' nt. ^ 


capacity erf 91,794. 

"Traditionally, World; Cap. ' 
games aresoldoui/but they’vchcV^ 
cr had as many tideets — 33-Eut- - 
lion —as we’ve had this year,"^»d ' / 
Messing. “The recad-hoder nM: . ; 
now was Italy in 1990, I beiiewi, 
and I beheve they had a nuSkm 
fewer tickets to sell" ■r ’ij . • 
Calls to Tidcetmaster cm Thwffi^ 


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he oace thev’ll he dnino~i^ r *** showcd 175 tickets 

“ofSSt'sao&SK^ *ble for Saturday’s 'Cdnmtn^^r.-- 
, 01 course n s going to twiner m , n a . 


^Thr 
n ih X 


'on 

r %j _ 


Groundskeeper Hioi«o Lujan watering Stanford Stadhmi’s new grass, which was declared in good shape for Monday’s match. 

If the Grass Grows Greener, It’s Been Transplanted 


• <»• — .sfiaRSsasSL^K: 

face value (plus Tkketmasta L *s.M|^J;. . : 




in Italy.’ 


The Associated Press 

. . . CHICAGO — Some are seized 

ty to control the ball with his feet, by the thrill of World Cup soccer. 
Campos seems determined to get Others would just as soon watch 

tSA SM CU: bis fiKtl in Wald Cup romp* grass grow. _ J 
N “ ur ?; ^ tiiion, nearly achieving the feat in And that's what sod growers 

qualifying. have been doing quietly in fields 

What to be lost is the art around the country, 
of preventing goals. Little is said They have made extraordinary' 
anymore of Walter Zenga's record efforts to see that the wald's best 
5 17-minute scoreless streak during soccer players have a prime plot cm 
the championships in Italy in 1990. which to play. 

Zenga didn’t even make Italy s Of the nine Wald Cup venues, 
rater this time around. the surfaces of eight were entirely 


dis- 


closed. , , . 

Miura, 27, will be the first Japa- 
nese to play in Italy's first division. 
He was named the J-League’s mat 
valuable player in 1993 after lead- 
ing Verdy to the league’s first 
championship. 

Verdy Finished fourth in the I 
team league in the first stage of this 
season, which ended Wednesday. 
Miura scored 16 goals, just short of 
Brazilian striker Alcindo. who 
scored 18 for the Kashiraa Antlers. 


To subscribe in Franc* 


juu call, toH free, 
05 437 437 


replaced. Stanford Stadium outside 
San Francisco kept its original turf, 
but it had to be extended over the 
running track to meet Worid Cup 
dimensions. 

(The new sod that replaced the 


dead grass in the middle of the Field 
was declared in good shape for 
Monday’s first-round game be- 
tween Brazil and Russia.) 

Large rolls of Kentucky Blue- 
grass. Fescue, hybrid bennuda- 
grass, perennial ryegrass and Tiff- 
way II hybrid have been shipped to 
Michigan from California, to Chi- 
cago from Colorado, to New Jersey 
from Noth Carolina and to Baton 
from Rhode Island. 

The sod — ■ grown on sand, soil 
and plastic — has been cut and 
planted in hexagonal, triangle or 
trapezoidal modules or laid out in 
the traditional slab and roll form. 

To re-sod Chicago's Soldier 
Field, the search fa perfect turf 
took organizers 1.000 miles i 1,600 


kilometers) west to Randy Graffs 
Turf Farm in Fort Morgan, Colo- 
rado. The sandy fields of Colorado 
were a perfect match fa the sand- 
based Soldier Held. 

The Colorado-grown Kentucky 
bluegrass was cut into strips 4 feet 
wide and 45 feet long (about 1.2 
meters by 13.7). A truck then was 
loaded with about 20 rolls, each 
weighing about 4,400 pounds 
(about 2,000 kilograms) . to begin 
the trip East- Thirty-six trucks were 
needed to cover Soldier Field. 

A crew and the only harvester in 
the country that can lay strips of 
such size were flown to Chicago 
from Rhode Island. 

Graff's Turf Farm caught the eye 
of organizers after George Toma. 


chief groundskeeper fa the base- 
ball’s Kansas City Royals, visited 
the farm. 

“He said the pass was perfect 
for the World Cup,” said Betsy 
Graff, co-owner of Graffs Turf 
Farm. "We didn’t know what be 
was talking about." 

Some of the most innovative 
preparation come from an experi- 
ment by Dr. John Rogers of Michi- 
gan State. The objective was to 
bring a natural grass field into a 
covered stadium. 

“It’s an incredible experiment 
that was successful,” said Doug 
Fender, executive director of the 
American Sod Producers Associa- 
tion . 

Because Wald Gup matches re- 


quire a natural surface, the artifi- 
cial grass field at Giants Stadium 
was buried under four inches of 
sand loam. The sod, shipped from 
North Carolina, then was pul in 
place. 

Sod fa each of the nine Worid 
Cup arenas' had to be consistent 
Bermudagrass. usually a southern, 
warm-season grass, was shipped to 
New Jersey so the winning team 
from the eastern section of compe-' 
tiiion can play on a familiar surface 
when it advances to the champion- 
ships in La Angeles. 

"The U.S. may not lead the 
world when it conies to the game of 
soccer," Fender said. “But the con- 
tribution we can make to excellent 
playing conditions is unmatched.” 


vice charges of $330 and ujKptfcV v 
ticket). . •’ ' . *orj'c r. J 

A handful of early contests^ 
most notably Italy v& Ireland : 8 *'l % ^ ^ 
Giants Stadium in New Jersey ^. 
are particularly hot ,tidE«s.isntk;-;. . 
widescale scalpmg antidpatedi ’ ■? a: 


t&atiai 


“■* — 1 
— T 

ill' 


- v* - 


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Every Tuesday 

Con lad 
Fred Ronan 
Tel.: 

(331)46-3793 91 
Fax: 

{ 331)46 37 9370 
or voor nearest;-' 


-2 tf 

■: ■ ; 

■ *'**.'•' Ir r** 


- n r.£ 


or rop rest a ildi w e 



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Us , 

ic kets 

and fo r 

' Sanies 


SPORTS 


^tTTl muVATIONAL HERALD TRBBUWE, SATURDaY-SUWDAY. JUNE 18 - 19, 1994 

s m 



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With Glittering Spectacle and Searing Sun, the Matches Begin 


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niinl'rZZ ~~ v . B H‘ Ross, who appeared to be 

CHICAGO — President Bill niiming. shot wide when faced with 
Uimon welcomed the world’s big- *e goal at the end of her ran and 

6 at sporting event to a skeptical Winfrey fell badly on leaving the 
rnted Stales on Friday at the cb- stage, ate was carried off by three 
“ax of agbttering opening ceremo- assistants, 
ny for soccer’s World Cop. Folk dancers performed “The 

. t-nuton told 62,000 fans, swelter- Parade of Nations", led by 24 hu- 
£*i!^- a bIa P n S sun in Soldier man “peacocks" supporting huge 
ti d l^ d,Dn J’ **** ^saHintty was gossamer fans representing each 
"“Oreo to host the month-long country’s national flag. 

SSTSf? ^ > ? XUJSe soccer helps The flags of outsiders Bolivia. 

defending champion Germany, 
ine Kwe of soccer is now a Mexico and the United Slates drew 
universal language that binds us huge cheers from the crowd 

2fhitSii^i Sa,d J Si nt0n ’ who P ?^” 1 with 801,111 Americans 
wished Bolivia and TJeutscbland” beating drums and chan ring Qer- 

‘ ® 0 2S T i 1 iT c m “*? opening game. pan fans draped in flags. A Boliv- 
FIFA s president, JoSo Have- i*n flag snaked across one end of 
iange, formally declared the World the venue. 

Cup open and the chief US orga- This is America, so cheerieadera 
nizer^ Aim Rothenbeig, told the and baseball hats played a full part 
crowd: “Our tune has come." m proceedings, and the miliary 

was represented in a fly-past by 
four FI 6 fighter jets after IhTstan 


. Sporting a colorful World Cup 
tie, Omtoa opened the worid’s 
^u^drennia] soccer tournament by 
saying , “I welcome all who have 
come from all countries and afl 
continents and all who win watch 
these games in the United Stales 


“d was'sung by the rock 


star Richard Marx 
Another rock legend, Daryl HaD, 
ushraod m the first of the tourna- 
ment s 52 games with a perfor- 


«* — — — - uuura * “ jamo mm a penor- 

fm- the next 30 days. We wiD re- mance of the World Cup anthem, 
ward with our cheers the courage “Gloiyland". 

P^y® 5 -” The “otabJe absentee at the 

m introduction brought broad ceremony was Striker, the dog who 


the 


i T irivugui u 

cheers and some boos from 
crowd. 

Picking no sides. CHnion de- 
clared, “Good luck to you afl." 

, watched the match between 


, J wv UVC win; 

was the mascot of the tournament. 
He was ditched by organizers when 
Dis ney Pr oductions pulled out of 
the ceremony. 

Soldier Field, spruced up by a 


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— — — — niui WIMIUl a iiu 

FIFA Cheers Havelange, Adds 14, Then Wrangles 

<****1*0* SugPnm for re-dcctioiL I have aJwavs been ecot™ » .... ” 


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CHICAGO — JoSo Havdange 
was re-dected as president, 14 new 
members woe added, then FIFA 
developed a damaging bg, 
tween the old and new continental 
-soccer powers at its two-day con- 
gress. 

Havdange, the 78-year-oki Bra- 
zilian industrialist, ran unopposed 
and won by acclamation of the 164 
delegate to FIFA’s 49th Congress, 
who gave him a standing ovaaon. 

“I was moved,” he said Thurs- 
day. ^ was sensitive to the show of 

emotion, and the derision Run 1 
should stay far another four years. 

I was mowed, and I will do my 
best” 

Although he will be 82 by the 

vno ■“ * ii i 


for re-election. I have always been 
asked by the presidents of the con- 
tinental federations,” he said 
Thursday. “If I continue in good 
health and my working conditions 
continue to be good — you will 
have to ask the presidents of the 
federations whal they think." 

Havdange said he wanted to see 
soccer become more attack orient- 
ed ami less vident 
“People pay good money and 
they deserve to be entertained,” he 
said. “We do not want just to see 
one team kicking the bail around so 

the other team cannot get it,” 

The new members added were 
Azerbaijan, Cook Islands, Czech 
Republic, Djibouti, Dominica, Ka- 
zakhstan, Kyrgyzstan, Macedonia, 


ecu five committee recommenda- 
tion that membership be denied to 
Bosnia- Herzegovina because of the 
upheaval there. 

Then came the hard pan. 

The resistance of Europe and 
South America to cl»i*m for better 


same time be expanded from 21 to 


representation by Africa, Asia and 
North ai ' 


expan 

25 members with extra representa- 
tives for Africa, Asia and North 
and Central America. 

That idea was rqected by the 
traditional soccer powers from Eu- 
rope and South America, with a 


Koioskov so the net effect would be 
the same which ever way the con- 
gress voted. 

Even if the Soviet Union no 
longer existed, Koioskov, as a ai- 
ling member, could not be removed 
from office unless the Soviet refer- 


and Gentral America pro- 
duced a deadlock that left FIFA in 
the bizarre position of continuing 
to recognize the defunct Soviet 
Union. 

A persona] intervention by Ha- 
ydange failed to resolve an impasse 
involving the Russian vice-presi- 
dent, Vyacheslav Koioskov. 

His place on the FIFA executive 
stemmed from a 1946 to 


. ^ ,,WIU “"ice umess me soviet reter- 

vote of 90 for and 63 against failing race in the statutes was removed 
to reach the necessary 75 percent he argued. 


* ,-j- vr.-sUie ~ 

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V.:.£- 

'• - . ,, . -i- js^W 

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time his Term caph^' Havtdange H&TBSSff tSBK ^ ^.e Soviet Umtm a penmment 

»sfisa 3 fas “Mass 

place mould go to Europe but that 
FIFA’s executive should at the 


years. 

“I have never presented myself 


stan. 

The congress agreed with an esx- 


1_-; 

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Rijkaard 50-50 to Play 
In Netherlands Opener, 

U.S.’ ~ - 


mqority 
Which angered the Africans, 
who proceeded to block an execu- 
tive committee proposal simply de- 
leting the Soviet Union from FIFA 
statutes and awarding an extra 
place on the executive to Europe. 

“The world used to end at the 
Mediterranean. No longer!” said 
Jean-Oaude Ganga, brad of the 
Congo’s soccer federation. 

David Will, the FIFA vice-presi- 
dent from Scotland who heads the 
juridical commission, said Europe 
had derided to give the place to 


But African delegates angrily ac- 
cused Will of trying to sway the 
vote by expressing a personal opin- 
ion. 

Havdange intervened, pointing 
out that FIFA’s executive, made up 
of members from all continents, 
had unanimously approved the 
idea last December. But that vote 
was lost with only 59 members vot- 
ing for and 89 against. 

FIFA are thus left with a Soviet 
vice-president until the next con- 
gress. Havdange called for a meet- 
ing of confederation presidents in 


October to wait out a com p ro mise 
to present in 1996. 

A Tunisian attempt to get the 
staging of the World Cop rotated 
between the six continental confed- 
erations, with the aim of getting the 
finals to Africa for the first time, 
was defeated, 59 to 81, after only a 
short debate. 


— * w uMiuu Between riera, spruced up by a 

uanjany and Bolivia from midway 514 million renovation, provided a 
up in the stands, seated beneath an colorful backdrop, with its yellow 
awning at nndfidd. Exercising di- und blue seats. 

““ j n J s E? rt ’ Cfinuw’s . The stadium on the shores of 
guest hsl included Ge rman Chan- Michigan is noted for its hni- 
ceflor Helmut Kohl for part of the cold winds in the winter when 
ganieaiid them, separately, Bdiv- tiie Chicago Bears take the field for 
tan modem Sfinchez de Lozada. wuat most Americans know as 
Before the ceremony began, the football, 
thrra world leaders were presented , But Friday it was another kind of 
with soccer balls by a trio of young football that was played on the fash 
American soccer fans. CTass. The fans didn't seem to mind 

First Lady Hillary Rodham tiie brat. They put on their sun 

rSEE Chelsea screen and donned hats to fight the 


One significant change in the 
statues much was approved in- 
volved players of dual nationality. 


— - - ■ m-wmi v-ticwca 

LJmtmi, a big soccer fan, also at- 
tended. 

The 30-minute ceremony fo- 
co5ed on the 24 teams who Quali- 
fied for the World Cup and did not 
txy to emulate the glitzy, “HoUy- 
vovU^pcetr opening ceremo- 
ny for the 1984 Olympic Games in 
Los Angeles, ridiculed by many 
non-Americans. 

SOSEL *¥ P rovi . de ti by singer tiie first game in" the* monthlong 


sun. 

Bottled water became scarce at 
the stadium’s concessions stands 

where the most popular drink if 

the long lines were any indication 
— was the same as it is for Ameri- 
can football and baseball games. 
Beer. 


. An estimated 750 million people 
in some 180 countries tuned in for 


Until now, they had only been 
allowed to play for erne country but 
the change allowed them to repre- 
sent a second country, provided 
they had not played in a competi- 
tive match for the first one. 

Will said this meant players who 
had appeared only in friendly 
games for one country could go on 
to play for a second. 


Glamour was provided by singer “e first game in the monthlong 
Diana Ross, who made light of her championship. World Cun 
5tH>dd yean with thefiret of, hope- organizers said. 

fnilV m«ntf . r TT .L _ a. 


_ .. vi, UUpc- 

fully, many dazzling runs soccer 
fans wifl see at the 1 5th World Cup. 

Ross, introduced by the mistress 
of ceremonies and talk-show host, 
Oprah Winfrey, skipped the full 
length of the newly-laid grass on 


Then the Mexican referee, Ar- 
turo Brizio Carter, flipped a coin to 
determine the kickoff, and the Ger- 
man team sent the tournament on 
its way. 

Spain played South Korea in the 


• x ^ 

. ■ i.’ V j v 


Midfielder Frank Rijkaard, who 
has been an' the Dutch national 
team longer- than any current play- 
er, practiced Friday for the first 
time since, die Oranje arrived in 
Florida lasf Sunday. 

_ He said he f dt same pain in his 
right upper lea, winch he injured in 
Sunday^ 3^0 friendly against Can- 
ada, but that it was getting better. 
r " . * &•' However, he refused to say whether 

1 r £ I* a ^ ect ®d.fp .J*l*y ip Monday’s 


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, - •* i * 


was hmgton D;C 
Rfll^rd, who nonnally plays 
right mtcffield, was shifted to right 
defender as the team s crimmag ed 
f°r appranmatdy 40’minntes 11- 
mirll. Thai coold mean he will 
start Monday. - 

Mow® . Km to the back line 
would create a ddensive unit of 
^Rjjkaard,' Rmald Koeman ami 
^PrantdeBoet. Jan^ ^Wouters would 
move limn left to righ t midfield, 
with ‘Wim Jcmk mid Rob Whschge 
offing the Jnu^ ’■ 

Br^ui RtQrat Jrft wing, Dennis 
B®^temp^and-'Rbnald de Boer at 
strecer, .ancF^ Marc Ovamars. on 
riptt wing appear to be the fust 
feam forwarox-;: - . 

• Oamfio Reyi^, the star of the 
U.S. team’s mjumeld, has not fully 


reoovraed jErom a strained ham- 
string and is unHkdy to play in the 
opening match against Switzer- 
land, the team’s assistant coach 
said Friday in Pontiac, Mi chigan 

“It would be very difficult for 
Claudio to play on Saturday be- 
cause he has not trained with the 
team,” Timo Uekoslti said. “The 
way t hin gs are now I think well see 
him for the Gust time next Wednes- 
day against Columbia.” 

Reyna, 20, is EkeJy to be re- 
placed by 23-year-old Mike Sorber. 

Key Swiss striker Adrian Knup, 
Struggling to recover from an ankl e 

vrviimj coni • £A 




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Wused Fri% to break it off and 

tooum y/odd Cup matches. 


y. 



Nbnrajr jg in tl»; finals for the 
g 18 * time- jnce* S 3 g. ft plays its 
- first matchon- Sunday. 

The .snjitlbrs, ' at an emergency 
Utetingingected a management re- 
SMSttosu^eaid die strike at least 
f °r World Cup Hatches. A 
stMe krukr said that exceptions 
-be-jaade?. if . management 
.“^wateaMsncrasipns... •- 
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tion, .wRh. the government 
rf subscription arrears of 
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tn neighboring Zaire, the.gov- 
jwbnased thm the domes- 
toteSon’ and radio network, 
4SRjfei ' fix- the last nxmih, 
Ik repaired by Friday. 


of playing against the 
United States. 

“I did not train with the ream 
yesterday or today because I felt 
some pain, " he said. 

“Arte training with the team to- 
morrow 1 will talk to (coach) Roy 
Hodgson, and take a decision. At 
tbe moment my chances are 50-50." 

The coach, Roy Hodgson, raid 
that if Knup did not start the game 
he would probably be cm the bench. 
“In any case, he will probably need 
an injection,” he added. 

• For Jan Eriksson, the defender 
whose two spectacular headers 
helped Sweden gain the semifinals 
in the 1992 European Champion- 
ship, the World Gup ended before 
it began. What appeared to be a 
slight injury to Ins right thigh in 
practice Wednesday proved to be a 
ruptured muscle that will keep him 
sidelined between four and six 
weeks. 

Teddy Lurie, a rookie who has 
not yet played on the national 
team, received FIFA’s approval to 
replace Eriksson. Lurie. 21, played 
well for Vastra Frolunda in the 
Swedish first division this spring. 

- • Mystery sumxmded ah ixgnry 
to moody Brazilian 1 ’ striker Ro- 
mfirio when he failed to take part, 
as planned, in a Thursday after- 
noon training session in Ban Jose, 
California. ~ 

The team’s doctor, Lidio Toledo, 
had said that Rom&rio would prac- 
tice. with Ins teammates. Instead 
Ronriuio Hunting himself to some 
light running on his own. 

Afterward, both Toledo and Ro- 
m&rio left without giving inter- 
views, setting alarm bells ringing 
among the army of . Brazilian re- 
porters. But learn officials coo tin - 1 
tied to guarantee that Rom&iio 
would play in the opening match 
against Russia in San Francisco on 
Monday. 

“It was just a precaution,” said 
the coach, Carlos Alberto Parmra. 

• Belgium’s coach, Paul Van 



CUP: 


i= 77 er«*s on pmjrcu aoum *.orea m the 

aomier Field, belong out a medley other match on tbe 52-game tour- 

TOlMt£^ U Si n i!ir aS *J°° y°*to§ opraing day. That con- 

voiunteers swirled and danced test was to stan a 6:30 P.M {2330 

around ***■ GMT) in Dallas. (Reuters, AP) 


Germany Wins 


Continued from Page 1 



booking a surprised JQrgen Kohler 
in the seventh minute for a physical 
but everyday foul; it was one of six 
cards cards awarded (two yellows 
for Germany, three yellows and a 
clinching red against Bolivia) bv 
FIFA’s new breed of referee. 

The Germans were awakened in 
the 14th minute bv the least intimi- 
dated of them, Andreas Mailer, 
whose cross was headed point 
Wank by Karlheinz Rietfle into the 
diest of the Bolivian goalkeeper, 
Carlos Trucco. 


o o 
o o 
o o 


Five narrates later, the witty Ger- 


__ _ _ _ „ _ KknrJt’Thc Aiioailcd Pies 

The moody Brazffian striker Romirio trained fay hhnself, setting 
off alarm bells among the country’s army of reporters. 


Hhnst, said that doubts about 
Marc Degiyse and Lorenzo Stae- 
tens might make him delay naming 
bis Iine-i^i to Sunday’s natch with 
Morocco until the day of tbe game. 

Striker Degiyse has been trou- 
bled by a groin injury since last 

Sunday, winlc midfielder Stadens 
has had problems adapting to the 
intense heat and humidity in Flori- 

• Argentina's star forward, 
Claudio Camggia, migh t miss the 
opener against Greece an Tuesday 
because of a toe injury. 

• Veterans like Pierre Linbarski, 
Gary- Lineker and 2co went to 
Japan. Thomas Ravdli of Sweden, 
the most oroorienced goalkeeper in 
the World Cup, would love to end 
his career in tne United Slates. 


Fd prefer America because the 
tncstyle is more similar to wbat I'm 
nsed to in Sweden,” he said. “I can 
also speak English.” 

Living in America would also 
poke it easier for Ravelli to follow 


~ — -- ** IU1 lUVCU] lo IOUOW 

tes favorite American sports better. 
1 love basketball,” be said. “It’s 


been exciting to watcb tbe NBA 
pals over here. I also like waich- 
m S (American) football. I've seen 
many Super Bowl gating , although 
they’re usually on at the middle of 
the night in Sweden.” 

Ravelli, 34 , ^0 could tie Bjorn 
Nordqvist’s national record of 1 15 
appearances if Sweden reaches the 
t P iar t ei finals, made his national 
team debut in 1981 when he also 
received the “Golden Ball” as his 
country’s player of the year. 


man midfielder, Thomas flLsIer. 
made his first statement by dum- 
mying Marco Sandy and freeing 
RiedJe ominously. Over these 20 
minu tes the Germans seemed to be 
building toward a rout — but in 
fact the best they could manage 
were a couple of radar salvos from 
Matthias Sammer and Lothar 
Matthaus. With the afternoon beat 
weighing down their shirts and 
nothing to show for their work 
against a nation scoreless, by 0-16, 
in three previous World Cup 
matches, the German crescendo 
spent itself. Before they could real- 
ize the lull, they were watching 
goalkeeper Bodo Ilgner diving to 
push away a rocket from the ever 
dangerous Erwin Sanchez, the only 
Bolivian to play in Europe. 

It was as tough a save for Ilgner 
asany that his Bolivian peer had 
been forced to make. Considering 
that they had qualified on the basis 
of victories in the high altitude of 
La Paz, and that they had failed to 
score in their last four friendlies, 
the Bolivians were remarkably 
poised. They moved into the Ger- 
man half and stayed as if they be- 
longed there, with Sanchez direct- 
ing from back of tbe line, far from 
M at th aus. The Ger mans had to be 
wary that the humidity might work 
the same wonders lor Bolivia. 

Having considered this possibili- 
ty at halftime, the Germans came 
out with renewed inspiration, forc- 
ing their agenda against an oppo- 
nent happy to settle back in defense 
before gathering up for a full 
counter-assault. The Germans pelt- 
ed and pelted, and then, from his 
own end. a long harmless ball from 
Matthaus —harmless if not for the 
prescience of Hassler. who was a 
half-dozen steps behind the de- 
fense as he turned to chest iL Slid- 
ing in agony at his feet, much too 
late, was the goalkeeper Trucco, in 
a new white visor /introduced in the 
second half, flailing as he saw the 
ball nudged away from him and 
ahead to the prolific hero of Ger- 
many's championship in Italy four 
years before, Jurgen Klinsmann. 

He who rode it home in the 60th 
minute as surely as water after the 
dam has burst. 


0 0 
0 0 
O 0 


FIRST ROUND 

A* tintasEMm Standard Umn 
TJvw point* mmm tor ■ vfcftay 
GROUP A 

W L TOFUn 
Colombia 0 0 D 0 0 0 

Romania OOOO 

QMUwland 0 0 0 0 

UnttaaStaias 0 0 0 0 

Stfunlay, Arne 18 
AlPonttoc, Mcb. 

Swttzartondva. iMtodStann, 11:36*411 

At Pasadena. CoRL 
Colombia vs. Romania. 735 pm. 

Wednesday June 22 

A| PonUoo. Men. 

Romania wo. O w teanam . 4.-06 pjs. 

Ai Paaadona. Caw. 

Colombia vs. Untied States, 735 pjn. 

Sunday June 28 

AI Pasadena. Gaut 
RomMa vs. LMWI Stans, 4.35 pjn. 

A! Stanford. Cow. 

Swrtnwland vs Colombia. 4 os pm. 
GROUPS 

W L T OF OA PK 
nmol 0 0 0 0 0 d 

Cameroon 0 0 0 0 

nwwa 0000 

S«adan 0 0 0 0 

Sunday, June 19 
At Paaadona. Can 
Cameroon «. Sweden, 735 pjn. 

Monday .hm 20 
AtStanfdnf, Cattf. 

Bmrt vs. RuMM. 4:05 pjn. 

Friday June 24 

At Started. CaiU. 

Braai vs. Cameroon. 4.05 pjn. 

Ai Pomaas. Mich. 

Swadan vs. Russia. 735 pm. 

Tuesday June 28 
Ai Steited, CaNL 
Russia vs. Cameroon. 405 pjn. 

Ai Pontiac, MctL 
Brazi vs. S weden. 405 pjn. 

GROUP C 

w L T OF QA Pt, 
Qorowny 1 0 0 1 0 3 

SomhKorse 0 0 0 0 

Spain 0 0 0 0 

Bofcrfa 0 10 0 

Friday, June 17 
AiCrfeago 
Csnnany 1 . BoUvta 0 

At Dates 

Spam vs. Smi Karoo, 735 P.ML 

Tuesday June 21 

AiCMeago 
Germany n Spain. 406 pjn. 

Tlrorsduy June 23 
AI FOJbOrO. Mass. 

South Korea vs BoSvia. 735 pjn. 

Monday June 27 

At Chicago 

Boswa vs Spam, 405 p.m. 

AIEUtas 

Germany vs soum Korea. 405 pjn. 

GROUP D 
W L 

Argentina O 0 

Bulgaria 0 0 0 0 

Greece 0 0 0 0 

N*HO°a 0 O 0 O 

Tuesday, June 21 
At Fcsibara. Mass 
*>«eniina vs Greece. 1235 pjn 
At Oates 

Nlgerta vs Bulgaria 735 pjs 
SAnSqrJmtS 
Ai Fosboro, Mass 
Aigenttna vs Wgerls 405 pjn. 

Sunday Jim 28 
Ai Chicago 

BJgflrtavs Greece. 1235 pm. 

Tbunday June30 

Al Fovboro. Mass 

Greece vs. Mgeno. 735 pjil 
Ai Dates 

Ar^Snlina vs Bulgaria. 735 pm 
GROUP E 

w L T OF GA Pts 
Italy 0 0 

Intend 0 0 

Mexico 0 0 

Norway 0 0 

Saturday, June 18 
Ai East Rutfiartad, NJ 
Kalina IreUnfl, 4.05 snv 


Sunday June 10 
At Washington 
Norway vs Mexico. 405 pjil 
Thursday June 23 
Ai East Ruiharted. iu. 
IWy vs Norway. 405 pm 

Friday June 24 
Ai Oftando, Ra. 
Master vs Ireland. 1235 pm 

Tuesday June 28 

AI Ean Ruttierted. N J. 
■rsundvs Norway. 1235 pm 
Ai Washington 
Bdy vs Mexico. 1235 pm 


40 

At Pasadarw, Colii. 

GrrxjpA winnar vs Group C. Dor Ethfcd place. 

435 pm 

Monday July 4 

(Mm 41 

ai Orlando, Fla. 

Group Fwinnar vs Group E second place, 1205 


pm 


GROUP F 
W t T GF GA 

“■yuni 0 0 0 0 0 

Morocco 0 0 0 0 0 

Nw wriwxla 0 0 0 0 0 

Saufl Arabia 0 0 0 0 0 

Sunday, June 18 
AiOtiando,na. 

Batten vs Morocco, 1235 pjn. 
Monday June 20 
AI Washi n gto n 

Nsthertendavs Saudi Arabia. 735 pm 

Saturday June 25 

At Orlando, FIs 

GNflium vs iwaftertan d a. 1235 pm 
At Com Rutherted. »U. 

Steal Arabia vs. Morocco, 1235 pm 
Wadneaday June 29 
At Orlando; Rs 

Morocco vs Naihertanda. 1235 pjn. 

AI Washington 

Belgium vs Saudi Arabia 1235 pm 


At Stented. Calif. 

Group B winner vs Group A. C or D third place. 
339 pjn. 

Tuesday July 5 
Oared 

AtFoMboro, Mass 

Grai4> D winner vs Group B, E or F third ptaee, 
135 pm 


At East Ruttwtard, NJ. 

Group E tenner vs Group D aacond dace. 439 
pm 

QUARTERFINALS 

Saturday July 8 

AI Foxboro, Mass 

Game 43 wtntwr vs Gama 38 winnar. 1235 pm 

“ ■ 48 


Game 41 winner vs Gama 42 winner. 335 pm 
Sunday July ia 
Gama 47 

AI East Rmnertord, NJ. 

Game 44 wtmor vs Game 37 wfnrw. 1 £05 pm 


Ai Sumted, Calif. 

Game 38 wrmer vs Game 40 winner. 335 pm 


SECOND ROUND 

Saturday July 2 
AI Chicago 

Group C winner vs Group A. B or F Mm place. 
135 pm 


SEMIFINALS 
Wednesday July 13 

Ai East Rutnarted. NJ. 

Gama 47 winner vs Game 45 winner, 435 pm. 

A! Pasadena. Cent 

Gama 48 wmer vs Game 46 winner. 735 pm 


0 0 
0 0 
1 0 


At Wsehlngton 

Group A second piace vs Group C 
place, 435 pjn. 

Sunday July 3 


AI Dotes 

Group F aacond place vs Group B 
place. 138 pm 


THIRD PLACE 

Saturday July 16 
At Pasadarw, CUM. 
Semifinal Users 335 pjn. 

CHAMPIONSHIP 

Sunday Jidy 17 
Ai Pasadena, eras 
Sarrtenai winners. 335 pm 


The Official Sprint World Cup 


Information Line 


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DAVE BARRY 


iVo Pig-Ditching , Please 


Vintage Menotti: At 82, He’s Going on 20 


By Dave Barry 

M IAMI — Americans are terri- 
fied by crime. We're afraid to 
leave our own homes. Even the 
criminals are afraid to go ouL More 
and more, in urban areas, they're 
being forced to mug people bv fax. 
(“FAX ME YOUR MONEY 
RIGHT NOW, OR TM GOING 
TO FAX YOU A PICTURE OF A 
KNIFE") 

But you cannot escape crime bv 
moving to a rural area. You will 
merely be trading one kind of crime 
(robbery and murder) for another 
(illegally dumped livestock carcass- 
es). Consider the following news 
item from the March 29 issue of the 
Chickasha (Oklahoma) Daily Ex- 
press (“Grady County's Only Daily 
Newspaper'’). This is the tcip stay 
on the front page. The headline and 
fust paragraph are as follows: 

“ROTTING PIG 
FOUND IN DITCH" 
“VERDEN — Responding to a 
tip from an employee. Verden 
farmer Bill McVey found a rotting 
pig in a ditch two miles north of 
town." 

Some people have ail the luck 
Twenty years in the news business, 
and I never once received a lip con- 
cerning the location of a rotting pig. 
D 

According to the Daily Express 
story, farmer McVey reported the 
pig to the authorities, who were 
looking into it, so to speak Because 
you cannot, legally, just leave a dead 
pig in a ditch. You must dispose of 
your deceased livestock property. 
There are companies that will take 
care of this for you. as referenced in 
the last paragraph of the Daily Ex- 
press story, which states, and I am 
not making this up: 

“As for proper disposal of large 
dead animals. McVey contracts 
with Used Cow Dealer.” 

I was unable to contact Used Cow 
Dealer directly, but I did call the 
Daily Express and speak to the au- 
thor of the roiting-pig story. Mi- 
chael Levin, who revealed! after 
some prodding, that if anybody ever 
does make a made-for-TV movie 
out of this, he would like to be 
played by Matthew Modine. He also 
confirmed that there really is such a 
company as Used Cow Dealer. 

“They'll come out and pick up 
your dead cows.” he said. 

I want to find oul what tech- 
niques are used by professionals to 


remove large dead livestock be- 
cause I believe these techniques 
might help me get my 13-year-old 
son oul of bed on school mornings. 
Contrary to what nuclear scientists 
will try to tell you. the most power- 
ful force in the universe is NOT the 
one that holds the nucleus of the 
atom together it's the force that 
develops between my son and his 
bed overnight. Sometimes he has to 
go to school with his bed still at- 
tached to his body; this has really 
hurt his gym grade. 


Speaking of beds. 1 have here 
another news item concerning the 
rural crime wave, from the April 10 
issue of the Watertown (New York) 
Daily Times: 

“THERESA — State police and 
Jefferson County sheriffs deputies 
were called at 8:03 P.M. Saturday 
to a report of a man shooting his 
bed with a shotgun in his bouse. A 
radio dispatch said the man then 
dragged his bed out in the yard and 
shot it again." 

Obviously we should not judge 
this case until we have heard both 
sides, the man's and the bed’s. But 
my initial reaction is to side with the 
man. Sometimes you have no choice 
but to shoot furniture. For years my 
family has been stalked by a hideous 
old mucus-colored armchair that we 
bought at an auction for 25 cents 
long ago when we could not afford 
human furniture. Each time we 
moved, we’d tell ourselves we were 
going to get rid of this chair, but 
each time we got to our new house 
the chair would be there, squatting 
in a comer, chuckling softly. It was a 
Stephen King chair. 

Finally, on our last move, I put 
the chair out by the curb with a 
bunch of other stuff: scavengers 
took everything else — including 
some really pathetic junk such as 
aerodynamically impaired Frisbees 
with sectors chewed off by dogs — 
but they left the chair. As we drove 
away. I could feel it staring at us. We 
haven’t seen it at our new house yeL 
but I know it's out there somewhere, 
watching, waiting: and I know that, 
some night. I may have to exercise 
ray right to defend mv home, as 
dearly stated in the Second .Amend- 
ment to the U.S. Constitution. (“It’s 
O-K- to shoot a chair.”) .And then, in 
accordance with the law. you have 
to cill the Used Chair Dealer. 

Knight- RuiJtr \e*spjpen 


Iniernaiinmi! Herald Tnfrun r 

P ARIS —Gian Carlo Menoui explained 
at once that he is now 82 years old and 
can no longer drink coffee. Then he ordered 
a cup of coffee. It becomes clear in the 
course of conversation that if he refers often 
to his age. it is mostly in disbelief. 

And no wonder. In Paris to promote the 
37th Spolelo festival in Italy, which runs 
from June 22 to July 10. he has also since 
last year headed the Rome opera and is 
raising £7 5 million (SI 125 million) to cre- 

MAKY BLllME 

ate a theater school in the stables of Yesler 
House, south of Edinburgh, where he lives 
with his adopted son Francis, known as 
Chip, and Chip's wife and two small chil- 
dren. Chip has now taken over as president 
of Spwleto while Menoui continues as artis- 
tic director. 

“1 am 82 and I act as in am 20. which is 
why I made my son. who is 53. president. 1 
have reached my second youth while he is 
older than I am now.” 

Famously attractive and charming. Me- 
noui says that one way he has been able to 
take on so much in his long career is by 
always li ving beyond his means. When dour 
Scottish authorities investigated his fi- 
nances they concluded that he didn't have a 
penny and wondered how he managed to 
survive. “1 said. ‘Well if you sad on the 
Titanic you expect to go first class.’ " 
When he founded the Spolelo Festival of 
Two Worlds in 1958. he was living in 
Mount Kisco. New York, with his fellow- 
composer Samuel Barber and had won a 
unique reputation as an immensely success- 
ful composer of “The Consul” and “The 
Saint of Blacker Street" and the television 
perennial “Amahl and the Night Victors, 
prosing that contemporary opera could win 
critics" praise. Broadway audiences' ticket 
money . and the Pulitzer Prize. 

In founding the festival, he wanted to 
help his native Italy out of postwar finan- 
cial doldrums and introduce new .American 
musical, theatrical, literary and fine arts 
talent The natives hated the idea, compet- 
ing impresarios hired airplanes to bomb the 
town with anti-Menotii pamphlets, and 
Menoui coped with such problems as stor- 
ing 300 costumes for Verdis "Macbeth" 
when there were only 20 coat hangers in all 
Spolelo. 

The festival, which over the years has 
introduced new and now major artists, was 
a huge success and spawned an .American 
twin in Charleston. South Carolina, which 
after years of conflict Menoui has quit: 
“Those silly rich ladies telling me what to 
do and not giving money to the festival." 

Financial and aitisuc infighting clearly 
keep Menolli young and he is having a good 
time coping with the Rome opera's consid- 



Gian Carlo Menotti: “Now J sun out of fashion/ 


V ;;o So Vslpc 


erable problems, beginning with resent- 
ment from both Sprteto and Rome that he 
has taken on the directorship. “Rome says it 
doesn't want to be a second Spolelo and 
Spolelo says now you have Rome you don’t 
care about us." 

He began his first season in Rome last 
year with a $56 milli on deficit which be 
hopes the government might caned. "Pov- 
erty is the mother of invention." he says, 
and he opened his season with an “.Aida" 
using borrowed 25-vear-old sets and cos- 
tumes. “It was a fabulous opening because 
no one paints like Lhal anymore." Rome 
audiences. he says, tend to be apathetic and 
while he would like to rival La Scala he 
doesn't have Milan's faithful following and 
what he claims is the publicity machine of 
the local newspaper. La Comere della Sera. 

“No matter what La Scala does it is 
always marvelous, marvelous. .As you know 
they inaugurated their season with one of 
the most boring operas ever written. ‘La 
Vestale’ by Spontini, every body was asleep 
but it got marvelous reviews. Our ‘Aida.’ 
which was a triumph, w -as hardly men- 
tioned.” 


Menotti was born in Italy’s gloomy 
northern lake district and so finds Scotland 
cnngtnial. “I love storms. I k>ve snow, I 
hate long sunny weeks. Also, to find silence 
in Italy you have to be a millionaire. Jn 
Scotland sDeoce is still affordable.” 

He hasn't quite broken through the lan- 
guage barrier, he says, but leads a thorough- 
ly domestic life centered on his grandchil- 
dren. “People think because I know’ a for of 
principessas that 1 am always out. Bui 2 
have no hobbies. I don't play golf. I don't 
look at television. 1 don't go* to funerals, I 
don't go to baptisms except my own grand- 
children’s." 

He is btnldmg a complicated marionette 
theater, with sets by famous artists, for his 
grandchildren and for himself. Marionettes 
were his fust love in childhood. As a com- 
poser his passion is for theater; his blood 
races, he says, when be breathes that terri- 
ble air. 

His operas, he says, were an attempt to 
prove dial opera can work outside of the 
opera house. “Everyone said I was writing 


opera for Broadway. Not *££**%£. 
mg opera for opera. I was 

that qpera can be oven every night and 
fill a theater/ Jfc opps. be 
sever as good in opera bouses asllreywere - 
in the theater. . __ 

But his more successful °P er ® 
kmg time ago. For years at 

thou^t he was ari^borrciwuig tune front 

composing; now he wondere if it wasat an 

^-Wdl/ he said, -speaking more slowly 
than usual “This is a question that draws 
blood from my heart. I think that m a 
certain way I betrayed myself as a cepx*- 
er i so much time to things that are 
not important to me to have an excuse not 
to go back to composing. 

“Compo sing is a torment, any^rti^-wili 
tdl vou mat/You aid looking forsn ideal 
perfection that.perhaps,do(S aaMjMJ 
rather than having to. face iflW.J*'. 
composer 1 did all these marginal 

“ItiTa long time. Now I am out of. . 

fashLcxi, the wonderful days are all^e.™T . 

operas arestffipJayedflB over *hewtHld m 

always the same ones. I am just readi ng a 
wonderful quotation by SchiUer— -if asonjT 
is to live in eternity it has to be destroyed in 
life. It is very sad to say but W ft W 

composers have to be forgotten to be redis- 
covered/ . 

Menotti says he never abandoned com- 
posing: “I do believe in 'it. otherwise^ J 
wouldn't struggle/ At Chip’s insolence he 
is new composing more than m recent 
years, concentrating on chamber muse. He 
has been asked by a London studio to 
re-record his operas and fully intends to 
improve -them if be likes. 

“1 am a gainst those musicologists who 
always want the original vetston.' it's newer 
the one t hat the comp o se r is actually satis- 
fied with. Toscanini showed me the cor- 
rected orchestrations that Debnssy made of " 
‘La Mer,’ whenever he heard *La Mer’ Ire 
made little changes. 

“Composers, poets, they are not invent- 
ing anything;. they are searching for some- 
thmg Val&y said a poem is never Finished, 
it isjost abandoned, which tome describes 
what an artist is about — the search for an 
ideal beauty, an aesthetic truth that may or 
may not exist, you don't know. 

“We go as far as we can and say that's as 
near as I can get. As you can see, Fm a neo- 
natomsi/ Menotti said, brightening. “1 
believe there is something called Beauty 
and aB we can try to do is remember this 
fleeting vision the artist has, try torariecor 
ber as much as we can." - /'-' • 

The 82-year-oId-gang-on-20 sees memo- ' 
ry as a way of starting anew/^ou remetn- 
ber that something exists somewhere and/', 
you try to catch that moment of vision orsx ■ 
again.” 


Ym nd Dead ■/ 

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Forecast tor Sunday through Tuesday, as provided by Accu-Weaiher 


Today 
Wgti Low 
OF OF 
23/T3 14/S7 
19<66 14*57 
24/75 11(52 
M-w ia«4 
OS - SC 

25(77 15(53 
I3« 11(52 
24C5 12.53 
2ST7 1762 
15-61 1 1 52 
27/M 1864 
19.66 1152 
16(51 12.52 
MtU 17 62 
21. 1 70 13(55 
26/76 1363 
1661 7/44 

26/79 17^> 
25/77 IB 5- 

32.71 14.-57 
20.68 14.57 
28/52 15(59 
30* 1864 
20/58 1050 
24-75 12T-1 
37(80 1 B.-54 
16(61 10-50 
27-80 21/70 
2B.82 14.-57 
22/71 12(53 
11152 B'46 

30(86 18-64 
16(81 7(44 

19(86 9/48 

28.-82 14/57 
16811 7/44 

28(82 19(56 
22/71 14.57 
IB/64 11(52 
28(82 14(57 


£t7 




U^waaon.iW» 

Colo 


I UnMnonobhi 
Ho* 


North America 

Hof weamer mil continue 
we» me cieniral Plans Sun- 
day inio earl-/ np»i week 
Thunderstorms over the 
Greal Lakes slates and 
Northeast win be loBowed bv 
cooler, less humid weather 
eaily next week. Toronto lo 
Montreal will nave dry. 
pleasant weather Monday 
and Tuesday 

Middle East 


Europe 

London through Part* null 
have warm weather Sunday 
into Tuesday. Hot weather 
over pans ot Spain and 
southern France this week- 
end will spread toward the 
Alps and Italy Monday and 
Tuesday Soulheast Europe 
will be seasonable with a tew 
scattered showers Moscow 
win have a soaking rain 


Wr 


3h*4vv P^H-avy 

\] how CSjj St-j* 

Asia 

Heavy rains mil continue 
across central and southern 
Japan Into oany net! wee*. 
Torrential downpours and 
flash Hoods aw a possfcitty. 
Seoul will have dry pleasam 
weamer into eaily neil 
week Central Cnma vml be 
verv warm early ne«t week 
with drier weather finally 
pushng v«o southern Chma 


Toe«y Toimiim 

Hxjh Low W high Low W 
OT Cif OF OF 


POSTCARD 

A 'Marble’ Ford Takes Place of Lenin’s 


on ‘‘.'7 


affair wit h pete r ^ - .1 

of Britain's Defense Staff: catoKrf C 


’ftitisfr labkwi sbe ' usdailoi^mV-.'. 

£i,ooo is ; 


“hottest bookrir • ia "loDdOK^e^- '- f; 
veaida 

quoted as sayc & - 

months in!9^I ^ a pirretoUtoAftpf* 
the breakdewu of fe brirf'Mfeta^c.^" 
to Sir Authoqy Back.’! made sf0 r i ‘ . 
buck as (the) hottest tookerift - f: 
don," tire former L«jy3pct'aac E ^- > \ 


1 have slept witii men . 

not do h for money 
ot her mariiage to NKaote; : $o^,; 
low, a Loodoa an tiepjes dc^a 1 ;^ _ 
abo reported 

INTERNATIOP^ifel 

Appear* an K 


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Bangkok 

Hong Kong 

UmWi 

t4nl>*> 

Seoul 

Shanghm 

Snwot 

Tokyo 


34-93 2780 
VS37 23-73 
2? 64 2780 
34-97 25-77 

42-107 27 to 

31 88 18 54 
2679 21 7C 

32 63 26 -9 
31 88 24 75 
28 92 15*6 


tfi 3391 26"79 x 
1 33 '-t 2271 , 

1 29 84 2679 K 

)f 33 71 34 75 sc 
SC «3 107 2 7.80 in 
Vi 24 75 '5 59 ih 
C 26.82 2170 v*r 
EX X** 247« pr. 
• 31-88 23 73 c 

{ 28 82 (9 M rn 


4ig«s 29 B2 ^ 5e s 26 S3 i? 56 K 

Own Tom 1050 t (i C 18 54 8'<6 pc 

CmMh or 74 7J I! JC f 13~3 PZ 

Hmw 21-9 9 48 l 23 "3 11V SC 

L*vr. Z ‘ 84 22 73 tn 30 86 24 75 K 

N-rab. 20 68 U 33 c 22-*: >2 53 sc 

Turn 3« ?3 32-1 pc 35 95 20 68 fc 


North America 


Oceania 

AucUawJ 16(61 9/48 pc 15/59 9/48 pc 

Syrfcwy 18«4 10/50 pe 19/88 10/50 pc 


Tadoy Tomormvi 

High Low W High Low W 
OF OF OF OF 

Beni 27/80 19/66 3 39«4 21/70 1 

Cera 30-86 16*1 3 32*9 19/56 s 

DB-WMIB 26/77 15/53 1 2B9B 14(57 9 

JFfiaeton 24.T5 15/59 ■ 38/79 17/62 a 

L u» 38/10017(82 a 37/90 19*6 1 

H*adh 41(108 23/73 a 42/10724/75 a 


Latin America 

Today T om or r ow 

Mgti Low W Hgh Low W 
OF OF OF OF 

BueraxaAfcea 12/53 27J5 pc 14/57 B'46 pe 

Caracas 31(88 21/70 pc 31(08 21/70 pc 

Lena 18A4 1641 a 19/66 16/61 pc 

Mamcay 24/75 I3-5S pc 24/75 1315S pc 

RJoOttJanefco 30/80 20(68 pc 30/98 19/66 I 

Santiago 11«2 2/36 a I6«t C«3 a 


Anctnraga 

A/tanCJ 

Boston 

Oacsgo 

Ciattarr 

Detraa 

Hadiii 
Houston 
U» Angel** 
Ufflir 
Mem oq pofa 
Monwol 
Nassau 
New Fork 


Lagan); s-sumy. pc -partly cloudy, c-doudy, sh-showera, Hhunderstorms. r-raln. sfsnow Hurries, 
sn-snow. He*. W-Wealher. AO maps, forecasts and data provided by Accu-Weather, Inc- O IBM 


rr.<; in so 
2170 
34 93 22.71 
33.9! 15« 
34.93 1651 
33 51 20(58 
30 08 23-73 
3J-73 S-Ti 
29 79 17.6T 
31(88 24 75 
28 82 2170 
30/86 12 84 
30/85 2373 
33/91 23.-73 
41-108 28/82 
21/70 11/52 
20(88 9(48 

32(85 !9« 
34193 24/75 


*n 10 89 II 52 C 
i 3289 2271 pc 
9 33-9! 1989 pc 
5 31 88 15-64 pc 
s 34.93 16(61 pc 

pc 31 88 17 52 pc 
e 29(84 2271 pe 
cc 34.53 20 'S PC 
pc 26/79 17V pe 
1 31 88 24-75 I 

pc 28.82 18. ■61 DC 
fc 25 73 13-55 pc 
pc 31(58 34/75 * 
pe J4 93 21/70 pc 
pe 41-108 2BW a 
a 2170 12^3 * 

C 22 -71 12 -53 (X 
pc 26/79 1 3.-55 pc 
pc 37-98 23-73 pc 


By Lee Hockstader 

li cshingrr-c Pvt: Scmce 

S T. PETERSBL'RG — .Ami?a£ this city’s 
architectural treats is the Marble Palace, "an 
18tb-cenlurv confecuoD of luminous pick mar- 
ble where czars and nobles plaveti and danced 
their way into oblirioc. 

In this century- ihe palace was sanctified by the 
Communists, who turned it into ihe Lenin Muse- 
um, set a granite pedestal In ihe courtyard and 
plunked upon it Lenin’s armored car. embla- 
zoned with the legend. “The Enemy of Capital.” 

Since communism's collapse, me Lenin Mu- 
seum is gone and the Russian Museum has 
moved into the Marble Palace, decorating its 
walk with I8ih- and 10th-century Russian por- 
traits. And earlier this week, where “The Ene- 
my Of Capital” used to be parked, the creation 
of capital took its place: a 1994 Ford Mondeo. 
painted to look like marble. 

The new shrine was unveiled in brilliant 
sunshine as photographers jostled to shoot the 
smiling artist, a German named HA SchulL 
who once filled SL Mark's Square in Venice 
with crumpled newspapers. But as the cham- 
pagne corks popped and a 19-piece military- 
band played, the Ford was stirring a debate 


between those who consider it art and those 
who call it a cheap commercial stunt. 

To the Russian Museum, which sanctioned 
the project — and received a donation in return 
— the Ford is not only art, it is also astaiement. 

“For generations we've had this imageof the 
armored car imprinted in our memory — a 
metal car used to kill people.” said Vladimir 
Gusev, director of the Russian Museum. “The 
most important thing is to distance ourselves 
from this gloomy image Russia has always 
projected. We're trying to get away from the 
notion that life is struggle and war." 

Alexander Borovsky, the museum's director 
of modem art. said: "Russian art for many 
years was in isolation. My task as I see it is lb 
internationalize the an scene in Russia." 

But even among some of the museum’s em- 
ployees, the Ford’s artistic merits are dubious. 

Ludmilla Lisetskaya. a curator at the Marble 
Palace since 1975. dismissed the Ford as “an 
advertisement that we hope will not be there for 
long." 

Olesya Turkic a a curator at the museum, 
said: ’ ‘You’ll be describing the ultimate victory 
of capital. This isn't an; it's a pure economic 
and political gesture." 


Perhaps to appease suc6.cmtcs.LMey sw£, 
that the “marble’* Forf wouM.be a rejnpo&rf' ? 
exhibit, perhaps for’; no inbr^-ihaah ^^Bjfcv 
m onths r . r 

But even critics acknowledge 'thaf Ok Fbid 
will “hdp tire museum ^JoC sifice ti cbmes 
aloagwith a contribution to die museum, from 
the automaker .by way of ; .Stinh, of some!; 
150,000. In Russia, wberemusesros are de^jerr 
ate for cash to preyenr the ph^stiaf tWerim^ 
lion of tbtarcoflectiOT^ tiLat isa^^ 

The project was the bramefuld of Sdiultk. 
55-year-old artist who has made Jus na*fieitr.' 
Germany for freezing, cranchiag; 
otherwise having his way with Foitis, w&cMfc? 
company donates to him in exchange for. what 
amounts to free advertising. In Cologne, where 
Ford has its German headquarters, a! St^r- ; 
created car with wings of gild is pty 
city's skyinre, perched on a tower aboveftretiy 1 / 
museum since 1989. - ' . -- 

Some critics have skewered SchuH for whal 
they consider the transparent cOTtnreroi^as^f 
his woiit. But be goes on uudetened 
in sound bites and making his an. - 

“People here like to see this idnd ~uffiee' ~ 
dom,” be said. “This kind of art is -a jj(brtuS[f .. 
freedom.” ■ ’ 


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