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PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


gton Turns Away 
apan Trade Fight 


Paris, Saturday-Sunday, November 5-6, 1994 




No. 34.738 


Clinton Planniiig to Put a New FmpViasis 
(hi Markets in Asia and Latin America 




r y^ :‘..V' By David E. Sanger 

" >?_>* New york Times Service 

: WASHINGTON — Suff ering battle fa- 

- tigafi after two years of fighting Japan over 

c -j vtrade issues, th&CHnton administration is 

• v - ^puttinga new em phasis on the emer ging 
■o-r . mwkels in the rest of Asia and Latin 
•■*> 'i America— areas that it believes will great- 
4' - 1 : 2s^.'daitstrq> Japan as consumers of U.S. 
" ItJ'Gtpwrts. 

L'tbc change in em phasis will become 

• ..evkfent over the next month, as President 
7: BiEGhnton flies off to two trade meetings. 


.'■ yy with, Latin American leaders in MiamL 
• yv Already, Mr. Clinton’s top economic 
aides are brandishing charts and graphs to 
fatwe.thcdr point that growth in U.S. cx- 
• ' ports to those regions will dwarf exports to 
Japan over the; next 15 years. This should 

- . lot the case even if every trade barrier the 

. United States has complained about in 
Jap® is dismantled. 

... “We’re not abandoning our efforts with 
Japan, because we can’t allow the world’s 
second-largest economy to have sanctuary 
. markets,” said Mickey Kan tor, the U.S. 
trade representative. “But when we looked 

- at the numbers, we saw where the action is, 
aud it is in cur own hemisphere and in Asia 
outside of Japan.** 

Mr. Kanfor’s projections indicate that 
US. exports to Japan will grow by neariy 
70 percent, td $88 Mffibn, by the year 2010. 
But exports to the zest of Asia are expected 
to rise 163 patent, to $248 billion. 

Latin American Trade, induding Mexi- 


co, should rise by similar amounts, to $232 
billioD, Mr. Kantor projected. 

So the government’s new focus will be 
on creating export incentives and pressing 
for reduced barriers in those faster-grow- 
ing markets in hopes that the United States 
will prove far more successful more quick - 
!y. 

For Mr. Clinton. Mr. Kan tor’s charts 
cany tremendous political resonance. The 

U-S. companies are also looking pa^t . 

Japan to die rest of Asa. Page 9. 

chances for any breakthrough improve- 
ment with Japan over die next year — or at 
least a breakthrough that would reflect 
itself in the trade-deficit figures — are now 
judged at neariy nil. 

But Mr. Clinton’s advisers are betting 
that the new export strategy will yield 
much faster results, enabling them to claim 
a major increase in exports and jobs in 
time tor the 1996 presidential election. 

The signs of frustration with Tokyo are 
everywhere, reflected in open questioning 
within the administration about whether 
18 months of talks has led to anything 
more than changes at the margins of Japa- 
nese industry. “We weren’t conn ting on 
dealing with four different Japanese gov- 
ernments, and that threw us,” one White 
House offi cial said. 

If the administration «=***"* to be losing 
its passion for continuing struggles with 
Tokyo, it is partly a reflection of its overly 

See TRADE, Page 4 





Cbri» Hdgrcn/ Reuters 


DIGGING IN — UN forces fortifying an observation post Friday to Sarajevo. Die General Assembly urged the 
Security Council to lift the Bosnia arms embargo, but many nations abstained from the resolution. Page 2. 


Jobless Rate Hits 4- Year Low, but Wall Street Spoils the Party 


. Sy Lawrence Malkin 

. httemtnwnal Herald Tribune 

NEW YORK — More good news on 
VS. job growth across a broad front ar- 
rived from the government on Friday, vir- 
itaally ensuring higher interest rates to 
%rake economic growth within the speed 
liiriits set by the Federal Reserve: 

Wall Street worried that wage inflation 
was bat* alresd& bgtjabar economists 
disagreed-' 1 ' ' " v\ 

-the Labor Department reported that 
194,000 jobs were created in October — 


fewer than the quarter-million that had 
been forecast. But the report was strong 
nevertheless, because it said that 40.000 of 
the new jobs were high-paying manufac- 
turing positions, and h revised upward 
previous months’ job-creation figures. 

The report continued to chip away at the 
unemployment rate, which fell 0. 1 percent- 
age point, to 5.8 percent, a four-year low. 
Inal news cheered President BiB Clinton 
andhisadnhnisiration the weekend before 
federal elections. 

But Wall Street looked at another set of 


numbers: an 8-cent rise in hourly earnings, 
to $11.24. the largest monthly jump in a 
decade, and a 6-minute increase in the 
factory workweek, to 42.1 hours, both im- 
plying higher demand for labor in a sup- 
posedly tight market 
The result was another drop in bond 
prices, raising the yield on 30-year Trea- 
sury bonds to 8.16 percent the highest 
since August 1991, on the near certainty 
that the Fed would raise short-term inter- 
est rates by half a percentage point when 
its Open Market Committee meets Nov. 15 


— and perhaps the same amount again at 
its final meeting of the year. Dec. 20, if 
slower growth is still not in sight. 

The slock market ended the day lower, 
with the Dow Jones industrial index falling 
38.36 points, to 3807J2. in tandem with 
the bond market- The dollar weakened as 
the effects of this week’s foreign currency 
intervention wore off. (Page 10) 

Lyie GramJey. a former Fed governor 
now *itii the Mortgage Bankers Associa- 

See JOBS, Page 4 


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Mother’s Confession Sickens a Town 


Cunfdrdbr^Ovr Stuff From Dispatches 

UNION^Sriudi Carolina — In atom 
of events ifei some people in this rural 
town expected but few wanted to believe, 
a 23-year-old woman who had spun a 
tale of the kidnapping of her two chil- 
dren. was charged Friday with murder. 

Susan Smith, who had appealed over 
'arid over to God and to the people ofher 
strife to help return her children to her, 
was jeered by spectators and covered her 
face as she headed to court - 

. “Hold ybur head up! You’re a baby 
murderer: a woman in the crowd shout- 
ed. 

. - Mis. Smith opted not to attend a brief 
hearing. Friday. Her lawyer waived her 
vrighfio a bond hearing, and Judge Larry 
Patterson said she would remain in cus- 
tody without bond. 

,V ^Townspeople who had searched and 
prayed for the children over nine days 
reac ted , with anger and bitterness when 
Mis. Smith’s arrest was announced 
' Thursday night Outside the county 
: courthouse, dozens of people gasped and 
solfoed at the announcement. 

:"If you could see the way she acted 
■ that night, thaft the main thing that gets 
. nay said Rick McCloud Jr„ who was at 
hOfoe.'on Oct 25 when Mrs. Smith 
pounded on his door, crying that a gun- 
v man hwi driven .off with her car, her 
;■ dsikfceri in' tbe back seat 

^Just to think, for a solid week I was 
; 'defending her,” he said. “It gets nae sick 

| "Mis. Smith confessed to killing Mi- 
3 r and Alexander, 14 months, ac- 
cessing laan&rrest warrant. The search 
1 by auSwritics and hundreds of volun- 
. toss ended where the mother's story had 
begnr^ ' ai a lake near the town. Mrs. 



Democrats Go for Broke 
In Raising Pension Fears 


Bob Jardm^The Ana riii ed Prey. 


PoBce leading Susan South, right, from the jail Friday for her bearing. 


Smith’s car was found by divers in the 
I jiifR, with two small bodies inside. Sher- 
iff Howard Wells confirmed Friday that 
the bodies were that of the two boys and 
that they had drowned. 

The discovery of the bodies and the 
arrest of Mrs. South came a few hours 
after die had made the most recent in a 
string of tearful appeals in front of televi- 


sion cameras to have her children re- 
turned to her. • 

“I have prayed to the Lord every day,” 
Mrs. Smith said Thmsday. “It’s just so 

sad that someone could take such beauti- 
ful children. I have put all my trust and 
faith in the Lord that He wiB bring them 

See CAR, Page 4 


By Eric Pianin 

Washington Pmi Service 

WASHINGTON — Republicans are 
callin g it “The Big Lie,” but the Demo- 
crats’ 1 lth-hour bid to portray the Repub- 
lican Party as the enemy of Social Security 
retirement benefits has Republican leaders 
worried and has helped to lighten some 
House and Senate races. 

Exploiting the vagueness of the Republi- 
cans’ “Contract With America” pledge to 
balance the budget. President Bill Clinton 
and congressional Democrats have assert- 
ed that Republicans intend to slash spend- 
ing for Social Security by neariy 20 per- 
cent 

In campaign speeches throughout the 
country this week, Mr. Clinton told senior 
citizens and baby boomers that their re- 
tirement benefits would be cut by an aver- 
age of $2,000 a year under the Republican 
plan, j, 

“I can tefl some of you find it hard to 
believe that anybody, even the most con- 
servative Republican, would propose a 
plan that would cut Social Security bene- 
fits,” Mr. Clinton told 400 senior citizens 
in Rhode Island on Wednesday. “It’s hard 
to believe, but it’s true.” 

The chairman of the Republican Na- 
tional Committee, Haley Barbour, called 
Mr. Clinton’s characterization of the plan 
“an outright, bald-faced lie.” The leader of 
the minority Republicans in the Senate, 
Bob Dole of Kansas, said that Mr. Clinton 
and the Democrats “will say almost any- 
thing to keep control of Congress, no mat- 
ter bow desperate, false or hypocritical 
their scare tactics are ” 

Since the early 1 980s, Democrats repeat- 


edly have used the Social Security issue to 
burn Republicans in key elections. Demo- 
crats substantially in erased their hold on 
the House of Representatives in 1982 by 
attacking President Ronald Reagan’s So- 

See DEMOCRATS, Page 4 


Free Market 
Shaken Anew 
In Russia by 
Resignation 

Minister of Economics 
Leaves as Yeltsin Names 
A Soviet-Era Official 

By Steven Erlanger 

Sew York Times Service 

MOSCOW — Confidence in Russia’s 
economic policy took another blow Friday 
when its market-minded economics minis- 
ter and deputy prime minister, Alexander 
N. Shokhin, resigned. 

He did so after President Boris N. Yelt- 
sin named as finance minister a Soviet-era 
budget specialist who spent several months 
in prison before bribery charges were 
dropped. 

Assuming Mr. Shokhin’s resignation is 
accepted, the changes will undermine con- 
fidence among international lenders and 
Western nations that the Russian govern- 
ment will be able to fulfill its promises of 
tough fiscal discipline and financial stabil- 
ity. At stake are $6 billion to $12 billion of 
Western and International Monetary 
Fund lending for 1995. 

“The economy is becoming a hostage to 
politics,” said a disappointed Mr. Shokhin, 
a 43-year-old economic reformer of cen- 
trist political views. With elections to Par- 
liament scheduled in a year and presiden- 
tial elections set for June 1996, “those at 
the top are ready for a union with opposi- 
tion forces,” he said. 

Mr. Shokhin may have been speaking a 
bit disingenuously, since the Russian econ- 
omy has been a hostage to politics since the 
second quarter of 1992. But for some 
months now, Mr. Yeltsin and his prime 
minister, Viktor S. Chernomyrdin, have 
been seeking ways to co-opt or split the 
opposition majority in Parliament by of- 
fering ministerial or snbminisierial posts 
to ^professionals” in those parties. 

The effort has taken on more urgency 
after the government narrowly survived a 
parliamentary no-confidence vote last 
week, even after the naming of a Commu- 
nist agriculture minister. 

It is unclear how thoroughly Mr. Yeltsin 
is coordinating these new appointments 
with Mr. Chernomyrdin, who keeps insis;- 
ing that no matter how broad a coalition 
the government becomes, its policy will be 
unified. In addition. Mr. Chernomyrdin 
has outlined a tight budget that calls for a 
deficit of less than 8 percent of gross do- 
mestic product. 

But Mr. Yeltsin is operating with little 
regard for the responsibilities or sensitiv- 
ities of people as senior as Mr. Shokhin, 
who is supposed to oversee the work of the 
Finance Ministry. He was not consulted 
over the appointment Friday of Vladimir 
G. Panskov, 50. as finance minister, Mr. 
Shokhin said, despite being promised that 
he would have a say. 

In the Russian system, the Finance Min- 
istry is the final gate before money is 
disbursed from the budget- A strong fi- 

See RUSSIA, Page 4 


Window on Violent World: 
Israeli 6 Verifies the Kill’ 


Tiny ‘ Dinosaur on the Half- Shell 9 Is a Scientist’s Feast 


v: v >v\ByJrfiii NoMe Wilford 

— • ... Hev Yak ttnmSendee 

In a discovery that 
to round oat knowledge of 

• ^ftdL&ecydeof dinosaurs, paleontolo- 
aa&BjeplGfiog ibt Gobi Desert of Mongo- 
ss haye f cared the first fossilized embryo 
of 'ik nttSteating . dinosaur. Only Six or 

^ ‘embryos are known 

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shwxCbijsr^aBCFA Turkey -T.L. 35,000 

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to science, and none is as exquisitely pre- 
served as this one. 

Curled up and resting in part of its 

tail and all, the fully extended embryo 
would probably measure 8 inches (20 cen- 
timeters) long. But it is still m the fetal 
position, the head tucked near die knees. A 
hand is over the face. t 
Except for the imssing pieces of the tail 
and the top of the skull, everything about 
the skeleton seems complete, with mdrvid- 
ual vertebrae, pelvic bones and mnbs ah 

wdl-fonned and clearly identifiable. 

In his laboratory ibis past week. Dr. 
Mark A. Norell, associate curator of verte- 


saw it lying on the ground,” Mr. Norell 
said. “I knew from the ankle bones it was a 
theropod,” the broad group of dinosaurs 
that includes such agile carnivores as Ty- 
rannosaurus rex, Vekxiraptors and the 
smaller, birdlike Oviraptors, 

The cranial features, Mr. Norell said, 
identified it as a member of the oviraptorid 
family, or dinosaurs that grew to be more 
than 6 feet (almost 2 meters} long with a 
short head, an elongated nock, toothless 
jaws and a hornlike bump on the end of its 
snout. . 

They probably looked something like an 
ostrich with a tail, running about on two 
legs and attacking prey with strong claws 
on their fordimbs. 

D etails of these findings were reported 


'V /T American Muse- Details ol tnese nnoings were repwricu 

brate p^eontol^ attte ^ Friday in the journal Science by Mr. Nor- 

““ 1 J 1 cutmed the • eB and a team of American and Mongolian 

made the scientis ts. The discovery was made m the 

75 million- 3 pr-old sprang “ Gobi in the summer of 1993 on an 

“I knew this was an embryo as soon as i 


expedition from the American museum 
and the Mongolian Academy of Sciences. 

The embryo was found at Ukhaa Tol- 
god, a basin in the western Gobi that has 
proved to be one of the richest lodes of 
vertebrate fossils from the end of the age of 
dinosaurs. 

Besides giving scientists a rare view of 
early dinosaur fire, the discovery immedi- 
ately confronted them with a mystery of 
mistaken identity. 

In 1923, an American Museum of Natu- 
ral History expedition led by Roy Chap- 
man Andrews discovered the first known 
duster of dinosaur eggs at a spectacular 
rite in the Gobi called Flaming Cliffs. The 
eggs were assumed to belong to a -species of 
plant-eating dinosaur, known as Proiocer- 
atops, because it was the most common 
dinosanr fossil the explorers had found in 


By Barton Gellman 

Washington Past Service 

HEBRON, Israeli-Occupied West 
Bank — Jerky and dark, the videotape 
starts rolling too late to prove how the 
fight here began. Conflicting accounts 
on two key points — whether Nidal 
Tamimi had a knife, and whether he 
attacked or defended himself — go unre- 
solved in the recording. 

But at one critical moment, the tape is 
clear. An Israeli soldier steps toward Mr. 
Tamimi's prone figure. The young Pales- 
tinian lies motionless on the pavement, 
bleeding badly from a gunshot wound in 
the chest. It is not dear from the video 
whether he is dead or alive. The soldier 
stops 4 feet (about a meter) away, rights 
down Ms rifle and fires a single bullet 
into Mr. Tamimi’s head. 

Recorded by a Palestinian free-lance 
journalist and corroborated by the ac- 
counts of three witnesses at the scene, the 
tape is apparently the first to depict what 
human-rights groups assert is a recurring 
Israeli practice of executing Palestinians 
who dm* with the army. The practice, 
denied by the army, is described in pub- 
lic debate here as “verifying the kill.” 

The tape of the shooting of Mr. Ta- 
niimi is a window on a world of grinding, 
routine violence that persists alongside 
efforts by the political classes to find 
another path. 


More Palestinians still live in territory 
policed by Israel than in the areas uf 
limited Palestinian autonomy. Since 
July, when Yasser Arafat arrived to take 
the' helm of the fledgling Palestinian Au- 
thority, the Israeli human-rights group 
BTselem has counted 19 Palestinians 
killed by Israeli security forces in the 
occupied territories. Three of them, in- 
cluding Mr. T amimi on Oct. 23. died in 
separate shootings at the same check- 
point on Bab Zawiyeh Street in Hebron. 

Two Palestinians in that time were 
killed by Israeli civilians. Palestinians 
killed five members of Israel’s security 
forces and three Israeli civilians in the 
territories. Inside Israel’s pre-1967 
boundaries, Palestinians killed 25 Israe- 
lis. most of them in the suicide bombing 
of a bus in Td Aviv, 

“The people in the territories are not 
feeling any difference between before the 
peace talks and after,” said Bassem Eid, 
a BTselem field coordinator who look 
testimony on the Tamimi shooting. 
’This is the famous question in the Arab 
territories: ‘Where are the changes?’ " 

Hebron, where tiny pockets of reli- 
gious Jews have wedged themselves into 
a Palestinian town of 200,000, is one of 
the flash points. No one has forgotten 
the massacre in February of 29 Muslims 

See ARMY, Page 4 


Kiosk 


UN Troops to Leave Somalia by March 


See EGG, Page 4 


UNITED NATIONS, New York 
(AFP) — Gting continuing security 
problems and a lack of progress in peace 
talks, the Security Cotmrii derided Fri- 
day to withdraw all 15,000 UN peace- 
keeping troops from Somalia by March 
31. 

The Council unanimously passed a 


resolution saying that the UN operation 
mandate for Somalia would be extended 
to that date but not beyond, and that its 
primary purpose would be “to facilitate 
political reconciliation.” 


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Page 7. 
Page 19. 







Page2 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, NOVEMBER 5-6, 1994 


** 


i 

i 


Poland and Russia Struggle With Ties That Don’t Bind 


By John Pomfret 

Washington Past Service 

WARSAW — A brawl between Pol- 
ish policemen and Russian tourists at a 
Warsaw train station has prompted 
Prime Minis ter Viktor S. Chernomyr- 
din of Russia to postpone for a third 
rime a scheduled visit to Poland and 
led to fears among Polish officials that 
Moscow is seeking to derail Poland’s 
entry into the North Atlantic Treaty 
Organization. 

The fight at Warsaw’s eastern sta- 
tion has rapidly taken on die trappings 
of a major diplomatic incident be- 
tween the two countries, which have 
struggled to define a new relationship 
since the collapse of the Warsaw Pact 
in 1989. 

The Polish foreign minister, Andrzej 
Olechowski, exchanged angry letters 
with his Russian counterpart, Andrei 
V. Kozyrev. Polish officials groused to 
the press and Russians did the same. 


Each side flirted with the absurd. A 
senior Polish Foreign Ministry official 
said be believed it was “more than 
symbolic” that the train involved in 
the ruckus was bound for Brussels, 
where NATO is based, and that Rus- 
sians had tried to stop it from leaving 
the station. The Russians said Mr. 
Chernomyrdin, whose visit was to 
have begun Thursday, would come to 
Poland only after an official apology 
from “an important figure." 

[The Polish government said that 
the prime ministers of Russia and Po- 
land spoke for 30 minutes by tele- 
phone Thursday to tzy to resolve the 
dispute, Reuters reported Friday. The 
statement gave no other details, and 
officials declined to comment on Fri- 
day] 

The brawl in the Warsaw station 
began on a Sunday afternoon when 
Russian bandits, using handguns and 
mobile telephones, boarded train cars 


bound for Brussels and robbed Rus- 
sian passengers of thousands of dol- 
lars. 

Frustrated at an apparent lack of 
police cooperation, the Russian vic- 
tims staged a protest and tried, by 
pulling an emergency brake, to keep 
the train from leaving the station. Sev- 
eral dozen policemen moved in, wield- 
ing riot sticks and hurling tear gas, and 
arrested six of the Russians. One Rus- 
sian was hurt. 

After detaining the six Russians for 
47 hours, the police informed the Rus- 
sian Embassy of their whereabouts. 
The Russian ambassador, Yuri Kash- 
lev, then demanded that Poland apolo- 
gize for “breaking an international 
treaty" because the police did not call 
the embassy sooner. Poland responded 
that no apology could be considered 
until an inquiry was completed. 

The furor over the Oct. 23 melee 
illustrates the volatile nature of per- 


haps the main question hanging over 
Eastern Europe since the fall of the 
Berlin Wall: its relationship with Mos- 
cow. 

Long accustomed to dominating the 
affairs of the smaller, weaker members 
of the former East Bloc, Moscow has 
looked on with some alarm as coun- 
tries here have moved rapidly out of its 
orbit toward the West 

The issue is especially emotive in 
Poland because half the country was 
occupied by Russia from 1795 to 1918, 
and many of Poland’s best and bright- 
est soldiers were killed on Stalin's or- 
ders in the Katyn massacre of 24,000 
Polish officers during World War II. 

A key element in this transition has 
been the demand by Poland and other 
East European countries that they be 
allowed to join NATO, a move not 
welcomed by the Russians. Poles see 
the U.$.-led Partnership for Peace pro- 
gram as a stepping-stone to full NATO 


membership. NATO ministers are 
scheduled to meet in December and 
discuss accelerated expansion of the 
alliance. 

The senior Polish official said he 
believed Mr. Chernomyrdin's latest 
postponement was timed to send a 
message to the NATO ministers. The 
Russian ambassador denied this. 

“There is some feeling of NATO- 
mania in Eastern Europe," said Mr. 
Kashlev. “They think NATO is a pan- 
acea. But we think that in the po$t- 
Cold War period there shouldn't be' so 
much emphasis on imliiaiy-pofttical 
organizations. That’s why we are in 
principle against NATO’s broaden- 
ing.” 

Mr. Chernomyrdin’s postponement 
is pan of a series of botched visits, 
snubs and delays — signs that both 
Warsaw and Moscow are having diffi- 
culty finding a new language for their 

diplomacy. 


Chirac, Pre-empting Rivals, Says He Will Run for President 


By Alan Riding 

New York Times Service 

PARIS — Stealing a march on his likely 
rivals on the left and the right, the Gaullist 
party leader, Jacques Chirac, tried to breathe 
life into his flagging campaign for the French 
presidency on Friday by formally declaring 
that he vail be a candidate in next spring's 
elections. 

The announcement came as no surprise. 
Mr. Chirac, 61, a former prime minis ter who 
made unsuccessful bids for the presidency in 
1981 and 1988, has long been preparing for 
the 2995 race to succeed President Francois 
Mitterrand. Until 18 months ago, he was the 
clear front-runner. 

Yet, in recent weeks, the campaign has 
taken on a surrealistic air, with the three main 
contenders for E1 _y see Palace — Mr. Chirac. 
Prime Minister Edouard Bahadur, 65. and 
Jacques Delors, 69, the Socialists' favorite — 
all behaving like candidates but insisting they 
had not made up their minds. 

Mr. Ballad ur has said he will only an- 
nounce his plans in the New Year, while Mr. 
Delors has said he cannot re-enter domestic 
politics until January, when he retires as pres- 
ident of the European Union’s executive com- 


mission. Yet both men are now r unning ahead 
of Mr. Chirac in the polls. 

Mr. Chirac, who had also intended to delay 
declaring his candidacy until January, has 
therefore apparently decided to gamble that 
he can recover lost ground by casting aside 
what he described as “the tactical camou- 
flages” and hypocrisy of the undeclared elec- 
toral campaign. 

Hoping to seize the moral high ground, he 


warned that “in such a pernicious climate, 
disarray turns quickly into bitterness and 
then into resentment" 

Announcing his candidacy in an interview 
with a provincial newspaper, La Voix du 
Nord, Mr. Chirac made it clear that he under- 
stood his first battle will be a gains t Mr. Balia- 
dur, who is a member of Mr. Chirac’s Rally 
for the Republic party. In fact already the 
sharpest exchanges have bear between Mr. 
Chirac and Mr. Bahadur. 

In the interview, Mr. Chirac made no direct 
reference to the prime minister but in con- 
trast to Mr. Bahadur’s claims that France is 
now emerging strongly from a recession, Mr. 
Chirac warned that “the return erf growth will 
not resolve the problem of employment which 
threatens society with disintegration.” 

“Between the risks of a clean-break policy 
which would sow disorder and the comfort of 
lukewarm policies which would pl ung e our 
country into lethargic decline, common sense 
imposes the need for change," he said. 

By publicly entering the presidential race, 
Mr. Chirac, who is mayor of Paris, has also 
implicitly signaled that, if Mr. Balladur sub- 
sequently makes his own bid, be wih be as- 

con- 
victory. 

So far, the only beneficiary from the inter- 
necine fighting on the right has been the 
opposition Socialist Party, which was hum- 
bled in parliamentary elections in March 
1993 and, until recently, saw little hope of 
returning to office as early as next year. But 
the Socialists now think they may have a 
winner in Mr. Delors. 


servative vote and risking a 



Pinal Rnugonl.' Reuter* 

Jacques Chirac, an official presidential candidate, with reporters in Lille on Friday. 


Serbs, Hard-Pressed, Launch Missile Attack on Bosnian Town 


By Roger Cohen 

New York Times Service 

ZAGREB, Croatia — Bosni- 
an Serb forces, apparently re- 
taliating against an offensive by 
Muslim-led government troops, 
have hit Bihac town in north- 
western Bosnia with two SA-2 
surface-to-air missiles, a United 
Nations spokesman said Fri- 
day. 

The spokesman, Thant 
Myint-U, said the missiles land- 
ed close to a school, damaging 
30 to 40 buildings and wound- 
ing seven people, including one 
chfld seriously. 

It is very unusual — and 
scarcely cost-effective — to use 
a surface-to-air missile with a 
250-pound (1 13-kilogram) war- 
head such as the SA-2 for an 
attack on ground targets. Mili- 
tary officials with the UN Pro- 
tection Force said the attack 
suggested some disarray among 
the Bosnian Serbs, who have 
suffered a series of setbacks in 
the past week. 

After spending most of the 
war on the defensive against the 
better-armed Serbs, the Bosni- 
an Army has taken more than 
400 square kilometers (155 
square miles) of territory from 
the Serbs recently, including the 


town of Kupres in southwestern 
Bosnia and several smaller 
towns to the east of Bihac. 

Up to now, despite much sa- 
ber-rattling, the only military 
response of note from the Serbs 
has been the Firing of the SA-2 
missiles. Targeting Bihac town 
directly in this way is risky for 
the Serbs because Bihac has 


been declared a “safe area” by 
the United Nations, and such 
attacks could eventually 
prompt a NATO air strike. 

The Serbian leadership met 
in its self-styled capital, Pale, 
on Friday and decided to ask 
the Bosnian Serb Parliament to 
impose martial law next week 
and call for a general mobiliza- 


tion to counter the recent Bos- 
nian victories. 

“We are going to declare a 
state erf war in our assembly and 
call a general mobilization and 
fight to the final victory," said 
the Bosnian Serb leader, Rado- 
van Karadzic. 

Mr. Karadzic has made sev- 
eral similar statements over the 


past week. But militaiy analysts 
believe his army is under severe 
logistical pressure from a short- 
- age of fuel caused by the deci- 
sion of President Slobodan Mi- 
losevic of Serbia to impose a 
blockade on his Serbian broth- 
ers and former allies. 

President Milosevic now says 
his overriding interest is peace. 


Weakly, UN Assembly Urges End of Embargo 


By Barbara Crossette 

New York Times Service 

UNITED NATIONS, New York —The 
General Assembly has adopted a resolu- 
tion urging the Security Council to lift an 
arms embargo on the government of Bos- 
nia-Herzegovina. 

The resolution, which was adopted 
Thursday night by a vote of 97 to 0, with 61 
abstentions, also asks member states of the 
United Nations to help Bosnia exercise its 
“inherent right of individual and collective 
self-defense." 

Because of misgivings that lifting the 
embargo could intensify the war, the reso- 
lution did not get as much support as its 
backers had hoped. 

European nations argued against it, but 
abstained in the vote, as did Canada. 

for the European Union, Detlev 
zu Rantzau, the German delegate, 


said that Europe preferred to see more 
diplomatic initiatives tried before the “last 
resort” of lifting the embargo was consid- 
ered. 

A resolution of the General Assembly 
does not have the force of a Security Coun- 
cil resolution, but it can serve as a test of 
worid opinion. It had been ihe strategy of 
the United States that a strong vote in the 
Assembly would demonstrate there is mo- 
mentum for its Security Council resolu- 
tion, to be debated next week, to exempt 
Bosnia from the weapons ban imposed on 
all of the former Yugoslavia three years 
ago. 

The U.S. resolution would not take ef- 
fect for six months. The General Assembly 
did not set a date for action. 

Madeleine K. Albright, the chief U.S. 
delegate, spoke strongly in defense of the 
Assembly’s proposal. The United States 


was one of the resolution's 39 sponsors, 
along with mostly Muslim nations and 
Colombia and Antigua and Barbuda. 

“Bosnia has done nothing that would 
warrant the imposition of international 
sanctions,” Ms. Albright said. 

She added that Washington was aware 
of the danger of provoking the Bosnian 
Serbs. 

The vote last year for a similar though 
slig htly weaker resolution was 109 in favor, 
none opposed and 57 abstentions. Backers 
of the version decided Thursday were 
scrambling until the last minute for votes 
to equal or better that total. 

There is concern among a number of 
European and other diplomats that efforts 
to lift tiie embargo on Bosnia, coming at a 
time when the Bosnian Army is gaining on 
the battlefield, will provoke the Bosnian 
Serbs. 


and he sent the Yugoslav for- 
eign minister, Vladislav Jovan- 
ovic, to Zagreb os Friday for a 
meeting with the Croatian for- 
eign minister. Mate Granin. 

Mr. Jovanovic was the first 
minister from Serbian-domi- 
nated Yugoslavia to come to 
Zagreb since Croatia seceded 
from Yugoslavia in 1991 and 
war broke oul 

But the meeting was inauspi- 
cious. Mr. Gratae said after- 
ward that progress on all issues 
hinged on Serbia's recognition 
of Croatia’s international bor- 
ders. 

Croatian Serbs currently oc- 
cupy about (me third of Cro- 
atian territory and have de- 
clared an independent state in 
Serbian Krajina. 

Mr. Jovanovic, however, in- 
sisted that a pragmatic ap- 
proach should be followed un- 
der which economic, cultural, 
sporting and other relations 
would be developed between 
the two countries before thorni- 
er political questions were tack- 
led. 

“Both sides remained in op- 
posing positions," a statement 
said, adding that the ministers 
hoped to meet again at an un- 
specified time. 


Meciar Acts to Grab Power and Halt Slovak Reforms as Prime Minister Quits 


WORLD BRIEFS 

Pope, in Sicily, Criticizes Corruption 0 

CATANIA, Sicily (NYT) — On his his first trip outside the 
Vatican since poor nealth forced him to cancel a jouroey to the 
United States, Pope John Paul II began a weekend visit Friday 
night to Sicily, facing growing alarms over threats to the priest- 
hood from the Mafia. . _ , „ , 

The Pope, 74. who broke his leg in a bathroom fall last April, 
descended unaided from his airplane as he arrived here, without' 
the cane he has often used since his fall. But the visit was. 
overshadowed from the start by the fraught and sometimes 
ambiguous relationshi p, between the church and the Mafia, 

The Pope responded with what seemed an appeal to thousands- 
of Sicilians gathered in Catania’s Piazza del Duomo to fight back 
against the mob’s influence. Most Sicilians, he said, “wish to leave 
behind them the corruption exercised by the few to the detriment 
of the many." He added: “The times insist on and do not leave 
room for salting silently by or fearful mediocrity. At the present 
historic moment, there can be no room for fearfulness or inertia,” * 

Nigerian Court Calls lor Abiola Bail - 

LAGOS (AP) — A court ruled Friday that the opposition; 
leader Mosbood K. O. Abiola, the presumed winner of last year’s - 
abortive election, should be freed on bail while awaiting trial on 
treason charges. But with prosecutors vowing to appeal to the.; 
supreme court, and the lower court issuing restrictions on Chief 
Abiola’s actions, it was unlikely he would be released soon. 

A federal appals court called for unconditional bail The 
decision was the latest twist in the political crisis that erupted in 
June 1993, when the military government reneged on promises to 
return the nation to civilian role after elections. Those elections 
showed voters overwhelmingly choosing Chief Abiola. 

The court decision comes a day after Nigerian security officials 
blocked the movements of another opposition activist, Nobel, 
laureate Wole Soyinka, who has been trying to leave the country - 
to attend a writer’s conference in France. Officials at Lagos" 
airport refused to honor a United Nations-issued passport when " 
Soyinka attempted to fly out Thursday night. £ 

Japan Apologizes for ’45 Massacre 

TOKYO (AFP) — Japan’s senior government spokesman of- ■ 
feted an apology Friday for the massacre of Chinese miners 
working in Japan toward the end of World War II, Kyodo news 
agency said. 

“It was a really regrettable incident.” Chief Cabinet Secretary - 
Kozo Igarashi was quoted as telling Geng Zbun, the head of a' 
Chinese group for victims of the so-called Hanaoka Incident. “1 
offer an apology from the bottom of my heart” 

Mr. Igarashi ’s words were the first expression of apology over, 
the incident, in which 113 Chinese were killed, the news agency - 
said. It occurred in June 1945, when the Chinese, who had been 
forced by the giant construction company Kajima Corp. to work 
at the Hanaoka mine in Akita prefecture, northern Japan, rebelled 
against harsh working conditions. 

Angolan Rebels Threaten More War 

LUANDA, Angola (AP) — UNITA rebels threatened Friday 
to return to all-out war if Angolan government troops did not bait ; 
an advance that has pushed to the edge of the rebels' best-. , 
protected stronghold. 

“If the government does not call back its troops, immediately, . 
the peace process stops right here,” said Rui Oliveira, spokesman 
in Portugal for the National Union for the Total Independence of ’ 
Angola, or UNITA. I 

Despite initialing a peace treaty this week, the government has ': 
pressed ahead with an attack that has penetrated to within- 10; 
kilometers (6 miles) of Huambo, Angola’s second-largest city and i- 
the rebels’ power base. i-.J! 

Ukraine Leftists Oppose Reforms : 

KIEV (Reuters) — Ukrainian Communists and their allies ^ 
declared war on Prime Minister Leonid Kuchma's planned re^ 
forms Friday after big price increases and called for protests osj» 
the anniversary next week of the Bolshevik Revolution. * 

At a session of Parliament called to discuss the price rises, l 
leftists marched into the chamber carrying Soviet Rags and - 
speakers attacked the market reforms, which are backed by the ‘ 
International Monetary Fund. The chairman of Parliament, Olex- * 
ander Moroz, a Socialist, cut off debate after an hour pending a ; 
report from government ministers. 

Last month, the legislators grudgingly approved Mr. Kuchma’s - 
reform plan, which rails for cuts in government expenditure and ; 
sharp reductions in inflation and the budget deficit. 

15-Year Term Urged for German Spy 

DUSSELDORF (AP) — A former Communist mole at NATO, . 
recruited by East German agents, endangered Western Europe's - 
security and should be imprisoned for 15 years, the prosecutor at ’ 
the former spy’s trial said Friday. 

The admitted spy, Rainer Rupp, 49, worked as an economics 
official at NATO headquarters in Brussels from 1 977 to 1989. and . 
prosecutors say the whole time he delivered military secrets to 
East German intelligence. He is accused of treason. 

In his closing arguments in the trial, a federal prosecutor, 
Eckchard Schulz, said Mr. Rupp must be convicted because he 
provided more NATO secrets to the East Germans than any other. 
West German traitor. 

For die Record 

Carrying a German scientist and two cosmonauts, the Soyuz- . 
TM-19 spaceship returned to Earth from the space station Mir on 
Friday, concluding a monthlong joint mission. (AP) 

Doctors in Italy’s public health service carried out a 24-hour 
strike on Friday to protest government cuts in health spending 
and the four-year delay in renewing their contracts. (AP) 

The British frigate HMS Cornwall and the U.S. aircraft carrier 
George Washington, sent to the Gulf last month to counter an ■ 
Iraqi troop buildup, passed Friday through the Suez ranai en ' 
route to the Mediterranean. (^pj 


Compiled by Our Staff From Dispatches 

BRATISLAVA, Slovakia — 
Vladimir Meciar is not prime 
minister yet, but on Friday he 
was acting as though he were. 

Seizing control Of Par liamen t 
as it met for the first time since 
elections a month ago, he put a 
brake on the government’s pri- 
vatization program, sendin g a 
chill message to international 
investors. 

He and his allies also purged 
the media, removed senior gov- 
ernment and judicial authori- 
ties and wrested control of the 
state intelligence agency. 


Prime Minister Jozef Morav- 
dk resigned under the threat of 
a no-confidence motion and his 
supporters boycotted the 150- 
seat Parliament 

Mr. Meciar then pushed 
through the legislation with the 
help of an 83-member coalition, 
including members of Lhe far 
right and former Communists. 

Mr. Meciar was removed as 
prime minis ter in March after 
President Michal Kovac criti- 
cized him in a speech and he 
lost a no-confidence motion. 
But in the recent election, be 


captured 35 percent of the vote, 
a plurality. 

He said he would open talks 
on Monday to form a govern- 
ment Political analysts said 
Mr. Meciar would try to make 
good on a campaign promise to 
unseat Mr. Kovac, and some 
warned the country was moving 
toward one-man rule. Mr. Me- 
ciar would need 90 votes in Par- 
liament to enact a constitution- 
al measure such as removing the 
president 

Mr. Moravrak, who agreed at 
Mr. Kovac’s request to remain 
as caretaker prime minister. 


warned that “frightful conse- 
quences” would follow if Mr. 
Meciar became prime minister 
again. 

Mr. Meciar is an ardent na- 
tionalist who claims to champi- 
on poorer Slovaks hurt by the 
effects of the free-market sys- 
tem. During his previous term 
as prime minister, privatization 
slowed to a virtual halt 

With Mr. Meciar in opposi- 
tion, Mr. Moravrik’s center co- 
alition had increased the num- 
ber of privatizations and sought 
to strengthen Slovakia's finan- 
cial reputation. But it fared 


badly in the elections, the first 
since Slovakia and the Czech 
Republic split peacefully in 
January last year. 

The parliamentary vote Fri- 
day to reverse some privatiza- 
tion affects about SO relatively 
email deals that involved direct 
sales to Slovak investors. Most 
state-owned industries are sold 
either by tender or through 
share offerings. 

On the Bratislava equity mar- 
kets, trading volumes and 
prices remained steady despite 
the reversal of policy. 

Nevertheless, analysts said 


the vote sent a signal to the 
international financial commu- 
nity that Mr. Meciar would 
slow or reverse economic 
changes if he regained power. 

(AP, Reuters) 


TRAVEL UPDATE 


•3 


Beijing to Improve Tourist Safely 

BEIJING (AP) — China plans to improve the safety and 
security of its tourist sites to counter a sharp rise in crin* and 
acadents that cost the lives of dozens of tourists in the past year ■ 
. Tornist attractions drew 21 million overseas visitors in the first 
^ »-.» n ■ , „ half of this year. The flood of sightseers has led to risine crime, 

4 Killers Beheaded in Mecca accidents and inadequate public facilities, includine toiler inf£ 

mous for their stench and filth. s 

r-™?* “ !ts ? S1 yesa ?' ' Rvoli amusement park in 

Copenhagen wtil be open in the darkness of a Nordic winter. 
From Nov. 18 to Dec 31 (with the exception of Dec 23-25) 
fair a ? d ^ Preset paper decorations 
1 Its °„ til ®‘ atl racti°ns — roller coasters, a 
Ferns wheel and shooting galleries — will remain closed. (AP) 


The Associ a t e d Press 

RIYADH — Four Nigerians 
were beheaded in Mecca on Fri- 
day, where they murdered a 
woman after breaking into her 
home, the Interior Ministry 
said. 


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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, NOVEMBER 5-6, 1994 


Page 



!5Sf* 


T- ' 



■Ty, 


•i 


■By R- W. Apple Jr. 

- • JfwYprk Tima Soviet . 

Si; PAUL, : Munwsota — The 
Democrats desperately need an in- 
saaacc jxjliey far next Tuesday’s 
midten»;4ectKKis, and they think 
they' have found one in Ann 
Wyn&r’ their fittle-known Senate 
candidate inMinnesota. 

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** not the kind of contest that 
Minnesotans, who pride themselves 
on their tolerance and high-minded- 
ness, are accustomed to. 

Aftetfa governor's race two years 
ago blighted by sexual scandal, Ms. 
Wyma is Heating this earnest state 
this year to a barrage of commercials 
accusing Mr. Grams, who used to be 

^ a television anchorman with a side- 

:<aits;wfco. are nxanihg for Republi- Roe in home building, of failing to 
(atkcld/Senate seats this fall seems P a Y bills on time and paving some. 


emocrats Go for Their Best Hope of Senate Victory 


to haw? a real chance of winning. 

. The party’s hopes in Wyoming 
Delaware and Montana have with- 
ered ia recent weeks, but if Ms. 
Wynia can knock off her Repablican 
rival*; Representative Rod Grams, 



when he got around to iu with rub- 
ber checks. 

. “He owed me over $7,500." a for- 
mer Grams supplier says in one of 
the spots, “and I’ve been trying to 
collect that for the last six months.'’ 

Rod hasn’t been able to manage 
his own money,” says an embittered 
former customer. “It would be the 


biggest joke if he was all of a sudden 
put into the Senate, where he has to 
manage Minnesota’s money.” 

Mr. Grams, 46, a House freshman 
with a voting record as conservative 
as any in the chamber, says the cam- 
paign “should not be about my busi- 
ness practices." 

He conceded in an interview that 
he bad suffered “some big losses,” 
but he said be had never declared 
bankruptcy and had worked for two 
and a half years to pay off $300,000 
in debts. 

“We all have problems.” he said. 
“You measure character by how we 
handle those problems.” 

The last public-opinion poll, tak- 
en by The Minneapolis Star Tribune 
in mid-October, snowed Mr. Grams 
ahead by 7 percentage points. Ms. 


Wynia says her latest poll shows her 
5 points up, perhaps because of her 
negative advertising, and Mr. Grams 
claims only to be “making good, 
steady guns, putting things togeth- 
er” 

Both Minnesota senators in the 
1980s were Republicans, and oppo- 
nents of gun control and abortion 
are well organized. But Democrats 
have dominated the state since Hu- 
bert R Humphrey was the boy may- 
or of Minneapolis right after World 
War U. 

His son, Hubert R Humphrey 3d, 
is now the state attorney general, 
and be was on hand for a Wynia 
rally in St Paul on Tuesday night 
taunting the -opposition in Humph- 
rey esq ue cadences as “the oh no, go 
slow, not now, vee-to Republicans." 

There is a widespread expectation 


among political pros that Ms. 
Wynia, 51, the former majority lead- 
er in the state House, will somehow 
eke out a victory and claim the seat 
being vacated by Senator Dave Du- 
renberger. A Republican, he is retir- 
ing after having been denounced by 
the Senate, 96 to 0, for improper use 
of public funds to rent an apartment 
and for violating Senate rules. 

But there is not a lot of evidence to 
back up those expectations, and 
even in Minnesota the political cli- 
mate is unfavorable to Democrats 
this year. Former Representative 
Via Weber, a Republican, picks Mr. 
Grams because, he says, “this year, 
in an even race. Republicans get 5 
percent” from the general trend. 

“Moderate voters, I think, are pre- 
disposed to go her way, but she 
hasn't been able to dose the deal 


tics.” Mr. Gilbert said. “She some-’ • 
times sounds like Michael Dukakis, ^ 
a Humphrey inheritor who left the" . 
passion out, a technocrat driven by. ‘ 
the need to explain.” 

Ms. Wynia is getting plenty of ■ j 
help. Vice President A1 Gore was 
One reason for doubts may be her here to help her raise money T ues- ■ ^ 
campaign style. Mr. Grams is com- day, and President Bill Clinton will.-* 
pared to Ronald Reagan because of campaign here Friday in his fourth . ; 
his ideology, his te chni que of fasten- visit since the campaign started. She , 

— ■ ' ■ ’ has also attracted contributions and - 

organizational help from the worn- -j 
en's movement. 


yet,” said Chris Gilbert, who teaches 
political science at Gustavos Adol- 
phus College in Sl Peter. “Last-min- 
ute decisions in this state tend to go 
Democratic, but the average Minne- 
sotan couldn't tell you what she 
stands for above everything else.” 


mg cm one or two ideas to the exclu- 
sion of others, like the need to cut 
taxes and to clean up crime, and his 
genial, practiced manner on the 
stump and in from of the camera. 
Ms. Wynia, short, bespectacled, pro- 
fessorial, could not tie more differ- 
ent 

“He is simple, some would say 
simplistic, in his approach to poli- 


Harriett Woods, the president of ‘ _ 
the National Women’s Political ’ 
Caucus, said that after Olympia 
Snowe, a Maine Republican whose - 
victory seems assured, Ms. Wynia is 
the woman with the best chance to ' ~j 
capture a Senate seat. ■ 



Compiled by Oar Staff Fran Dispatches 

. . SANTA- MONICA, California — A Guatemalan 
housekeeper whose employment by Senator Dianne 
Feifistem has come under scrutiny in her tight race for 
re-election said Friday that she hari documents allow- 
.iflg her to work legally in the United States. 

.'r “Yes, I was legal,” Annabella Paiz said in a tele- 
phone interview from her home near San Francisco. 
She declined to say wfaat type of documentation she 
had shown Ms. Fanstem. 

A newspaper published by striking San Francisco 
journalists reported Thursday that Ms. Paiz had 
worked for Ms. Feinstem without a work permit in the 
early 1980s, although it was not illegal to do so at the 
time. 

Late Thursday, the UJ3. Immigration and Natural- 
ization Service said that the newspaper report was a 
result of a case of mistaken identity. Ron Rogers, an 
INS spokesman, said the Annabella Paiz who lacked 


’s ‘Illegal’ Maid Was Mistaken 


the work permit was not the Annabella Paiz who had 
worked for Ms. Feinstein. 

He said he could not verify whether Ms. Feinstem’s 
housekeeper had a work permit or was in the country 
legally. An immigration service spokesman said Fri- 
day that the agency was still investigating the case. 

The newspaper report threw the state’s Senate race, 
already in turmoil over the issue of illegal immigration,' 
into even greater confusion. 

Ms. Feinstein, a Democrat, denied the report, while 
her Republican challenger. Representative Michael 
Huffington, who has had problems over his employ- 
ment of an undocumented nanny in recent years, 
leaped to exploit the disclosure. 

The senator said that she had hired a housekeeper 
but that the woman had presented documents indicat- 
ing that she was in the United States legally. Ms. 
Feinstein also noted that at the time she employed the 


woman, in the early 1980s, there was no law against 
hiring undocumented workers. 

A week ago, Mr. Huffin Eton’s campaign was dam- 
by his admission that he had employed an illegal 
ien as a nanny for his two children from 1989 to 1993 
— after it was illegal to do so. 

Mr. Huffington has endorsed Proposition 187, a 
ballot proposal that would deny most public services 
to illegal immigrants, including public schooling and 
nonemergency health care. After Mr. Huffington 
made his admission, Ms. Feinstein said she had never 
employed an undocumented worker. 

On Thursday night, Mr. Huffington, a freshman 
Republican congressman, rushed a television adver- 
tisement onto the air that said the senator had “flat out 
lied.” 

But Ms. Feinstem’s campaign manager noted that 
the law prohibiting the hiring of illegal immigrants was 
not enacted until 1986. (AJ 3 , NYT) 



U.S. Seeks to Lessen 
Repetitive Injuries 


Mike Nel«w> Agave Fnme.-ftswc 

Robert Shapiro, a Simpson lawyer, smiled as he got thumbs-up after jury selection. 



Stacks and Women Predominate Anwng the Chosen 12 


ByKenn^th B. Noble 

jVn* York Times Service 

LOS ANGELES- — Neatly 
five, months after he was 
charged with murdering his for- 
mer wife and- her friend, OJ. 
Simpso n finally- came face to 
face- with the 12 men and wom- 
en who will judge him. 

The selection of the jury was 
completed late Thursday on 
wito was to havetjeen only the 
first of a number .of days of 
peremptory challenges, in 
which lawyers for the opposing 
rides may exclude prospective 
jurats without stating a reason. 
. It followed often tedious 
weeks in which the lawyers and 
the judge in the case, Lance A. 
Alto of LOs Angeles County Su- 
• perior Court, questioned jurors 
intensely in an effort to detect 
' any biases they might have and 
so exclude them for cause. 

Or the -12 jurors selected, 
eight are blade, two are Hispan- 
ic, ooc is white, and one identi- 


fied himself as half white and 
half American Indian. Eight are 
women. The jurors range in age 
from 22 to 52. 

When Judge Ito told them 
that it was they who would sit in 
judgment, some seemed 
s tunned, a few smiled broadly, 
and some congratulated others. 

“I want to welcome you to 
the league of judges, because 
thatis what you are,” Mr. Ito 

said. “I know you can rise to the 


that race was not an issue in the 
Simpson case, it was clearly a 
compelling concern during jury 
selection. Recent opinion polls 
have shown that blacks are 
more likely to believe that Mr. 
Simpson is innocent and may 
have been framed. 

In the peremptory challenge 
phase, lawyers are permitted to 
remove prospects for any rea- 
son except their race or sex. 

At the same time, most of the 


occasion. I know you wUl do jurors picked Thursday 
what is right- 1 trust you. women, and some trial ex 
Onty the selection of 1 falter- speculate that jurors’ sex may 


are 
experts 


naie jurors re m ai n s, and that 
will begin next week. 

The panel chosen comes from 
a pool of 304 people initially 
summoned as prospective ju- 
rors for a case in which Mr. 


be at least as important as race. 
Prosecutors have indicated that 
they will try to introduce as 
evidence Mr. Simpson’s history 
of wife-battering and contend 
that the murder of Mrs. Simp- 


Simpson is charged with the fa- sou and Mr. Goldman resulted 
tal stabbing of Nicole Brown from a jealous rage. 

Simpson and Ronald L. Gold- 
man on June 12. 

Although lawyers for both 
rides told prospective jurors 


By Frank Swoboda 

Washington Past Service 

WASHINGTON — The 
Clinton administration plans to 

E ropose one of the broadest 
ealth and safety regulations in 
modern government history to 
control the epidemic of repeti- 
tive motion injuries that cost an 
estimated $100 billion a year in 
lost work time. 

The Occupational Safety and 
Health Administration is near 
completion of a draft “ergo- 
nomics standard” that would 
cover more than 120 million 
workers in. ail but the smallest 
companies. 

If carried out, it would re- 
quire employers to examine ev- 
ery job that has a potential er- 
gonomics problem and to take 
corre c ti ve action when trouble 
is found. That might range from 
simple changes in the schedule 
of a typist suffering wrist strain 
to expensive redesign of equip- 
ment used by an assembly line 
worker. 

The National Association of 
Manufacturers has formed a co- 
alition to try to assure that any 
standard is to its liking. So far it 
has signed up 185 companies 
for its Coalition on Ergonomics 
and predicts that more compa- 
nies will join once the standard 
is announced. 

Labor unions are worried 
that time is running out to enact 
a final standard during .Mr. 
Clinton’s first term, because of 
the length of the regulatory pro- 
cess. They are pressuring 
friends in Congress and sympa- 
thetic outside groups to lean on 
the administration. 

Work-related musculoskele- 
tal disorders such as carpal tun- 
nel syndrome, back strain and 
other repetitive-motion injuries 
to the upper body now account 
for 60 pacrat of all new occu- 
pational illnesses. 

Ergonomics, a term that first 
surfaced in the late 1940s, is the 
science of adapting work and 
working conditions to suit the 


worker rather than forcing 
workers to adapt to the design 
of the machine. 

In the last decade, health ex- 
perts have come to view it as the 
best solution to the repetitive- 
motion injuries suffered by of- 
fice workers using computers, 
grocery store checkout clerks 
using price scanners and 
slaughterhouse workers making 
repetitive knife cuts. 

Concern over these injuries 
has mounted as computers pro- 
liferate in an emerging service 
economy. In 1983. about 25 
percent of the work force used 
computers at work. Last year, 
that number had climbed to 47 
percent. 

Half of the people who suffer 
from carpal tunnel syndrome, 
one of the major injuries result- 
ing from long use of computer 
keyboards, lose more than 30 
days’ work. 


POLITICAL A OTPS 


What Formula to Fee<l Voters? 

WASHINGTON — How would you ex- 
pect a jittery campaign year to end? With a 
bad case of the jitters, of course. 

Candidates seem to be jumping out of their 
skins. Governor Lawton Chiles of Florida, a 
rather dignified Democrat, stuck out his 
tongue at a heckler. And John Marty, the 
Democratic challenger for the statehouse in 
Minnesota, still searching for the right mes- 
sage. is on his fourth campaign manager. 

Many candidates, their nerves clearly af- 
fected by a volatile electorate, cannot even 
seem to decide what they are trying to sell in 
these all-important final days. 

“The formula changes by the hour.” said 
Steven Giazer, a senior adviser to Kathleen 
Brown, a Democrat who is struggling to 
catch up with Governor Pete Wilson of Cali- 
fornia. “We change our messages all the time, 
every day.” 

The campaign season's unpredictable 
rhythm has encouraged the panicky behav- 
ior. First, it seemed like the Democrats would 
be blown away. Then. Democrats seem to 
gain ground. Now. no one seems to know 
what will happen, except that there are more 
close contests than in any election in decades. 
That means more candidates doing whatever 
it takes to win. 

As James Carville, the strategist known for 
his superstitious ways in the homestretch of 
Mr. Clinton’s presidential campaign and a 
leading adviser in the down-io-rhe-wire race 
of Senator Harris Wofford in Pennsylvania, 
put it: “You get so nervous you don't know 
whether to scratch your watch or wind your 
feel.” ( Richard L. Berkc. N YT i 

Endangered Political Careers 


WASHINGTON — Amid fierce criticism 
of career politicians, eight states will vote on 
term limits for members of Congress next 
week. And if the measures pass, as expected, 
nearly half the states w ill have such limits. 

Even where the question is not on the 
ballot, many candidates for Congress are 
pledging support for term limits. With few 
exceptions, incumbents and other candidates 
who dislike the limits soft-pedal their opposi- 
tion. for fear of alienating voters. 

While there is usually no legal problem 
with term limits for state officeholders, feder- 


al and state courts have ruled on several 
occasions that they violate the constitution 
when applied to members of Congress. Nei- 
ther Congress uor the states may impose 
qualifications for congressional service be- 
yond those specified in the constitution, the 
courts said. 

In an Arkansas case before the U.S. Su- 
preme Court, the Clinton administration ar- 
gues that terra limits for members of Con- 
gress would prevent lawmakers from 
developing the expertise needed to govern the 
nation. 

Supporters of term limits have their eyes 
on a prize bigger than a Supreme Court 
ruling. They hope that by making the case for 
term limits slate by state, they will force 
Congress to propose a constitutional amend- 
ment setting a maximum of three terms in the 
House and two in the Senate. 

Term limits for Congress are on the ballot 
next week in Alaska. Colorado, Idaho, 
Maine, Massachusetts. Nebraska. Nevada 
and Utah. The proposals in Colorado and 
Utah would significantly tighten limits al- 
ready adopted: the six other states currently 
have no congressional term limits. (NYT) 

Virginia Contest Is a Wail-Biter 

Two independent polls show the Virginia 
Senate race stuck in a virtual tie. with turnout 
in Tuesday's election likely to decide the 
winner. 

“It's a nail-biting dead heat, just like wc 
predicted.” said Mark Goodin, a senior ad- 
viser to the Republican nominee. Oliver L. 
North. 

“It's still a vcTy close, two-person race and 
will stay that way through Tuesday.'" agreed 
Bert Rohrer, spokesman for Senator Charles 
S. Robb, a Democrat. 

The Commonwealth Poll, conducted b> 
Virginia Commonwealth University, gave 
Mr. Robb 38 percent. Mr. North 3ft percent 
and J. Marshall Coleman, an independent 1 5 
percent, with 1 1 percem undecided. •’ U P 

Quote/Unquote 

President Bill Clinton at a campaign rally 
in Iowa, on the Republican Party strategist 
William Kristol. "You probubl} rieier heard 
of him. He tells them what to think up there 
in Washineton." i 117** 


Away From Politics 

•A 6dBmi artiBei7 tmfitaiT shell explode- .. — 7-3-7- 
aroundategh^diool music-appreaauon 
Georgia, injuring 12 students, one critically. The blast was felt 

Tor a_qtiarter-arile_ ■ 

•The 'mysterious toes that Idled emergency 
itm s astoytreiied a dying cancer patient ast Kbnmy 
wot most-iikriy. the result of a taoire duun of cborncd 
reaetjoas in the pancat’s blood that produced an $«tthat 
used ^chemical warfare officials m Riverside, 

Cafifbfnia, said, .. , 

•Three" West Poitf tobafl 
. : for the rest of the season fori touching ^ tosu 
\r cadets during a pep rally. Two other football players were 
t efcared fctiSe OcL 20 incident for lack of evidence. U.S. 
.MaitSii’ Academy officials said. . . 

*tfie ^Vi&hty Mbipto Power Rangers, a ^ 
ptoduced^dren’s Sow' viewed in more than 
{SbSnded too violent for Canadian television. YTV, 
youth channel, has canceled the series. _ , 

. hydroxyurea, a drug that seems to block or slow the repU 
tion Of the virus: 

* Am^^pibsecutorasaa^^ ttyiog to 

heconkf haveVarti^and affairs was eonwewd of sabotaging 
a le«e:in teEvtile. Missouri, during the 1993 Midwest 
; fk»d$ rod causing a catastrophe. _ . uMnd 

• M^etto «0 Baltimore parents accused ?! 

- on drBd support payments were arr^ted during 
it Maryland, offiaais atd Jhf first459 
pwSSnSDdXWKSl'about $1.4 /million, ap. laT. a »t. 


NEW REPORTS: 

How to Profit 
and Avoid Taxes 

1. » 225 TAX HAVENS'’ 

Revised and Updated in 1994 From the Earlier "21 8 Tax Havens”. 
How You Too Can Beat the System by Having Some ofYour Money 
■mrf Asspis Offshore. Learn Where and How- 

2. ‘INTERNATIONAL MAILDROP 
DIRECTORY” 

Newest and Mmi Complete Source of 2245 Accommodation 
Addresses in Over IU0 Countries and 50 U.S. States. Transmit 
and Receive Leners in Complete Secrecy _ 

3. “HOW TO SET UP YOUR OWN 
PRIVATE INTERNATIONAL BANK” 

How to Acquire a Bank Charier and Bank License for Less than 
US$2.5dDir _ 


Mjjwi in a U.N. Recognised Sovereign Country. 

Where You Can Set Up Your Bank and How to Apply. 

4 ‘flOW TO BECOME A LEGAL HOLDER 
OF A SECOND PASSPORT” 

Toiallv Different Reveal-ii-All Guide to 5 1 Foreign Passports. 
The Best . Cheapest and Fastest Ways to 
Get One...and Why You Should. 

5. kfc OFFSHORE NESTEGG STRATEGY” 

Revised 1994 Report Tells You How to Systematically 
Accumulate Secret Money Oftshore~.and 
Hmv-Tn-Do-Ii-Yourself .- 

WRITE or FAX for FREE INFORMATION on ALL 1 
5 REPORTS - Or Send Your Business Card to: 
Privacy Reports 

26A Peel Street, Ground Floor, (Dept 342) 
Central, Hong Kong Fax: + 852 850 5502 

Ph m MC Qatw Dcpi V«i; H hen Replying 


RELIGIOUS SERVICES 


AMSTERDAM 

CROSSROADS INTERNATIONAL CHUR- 
CH MenienominBtiarial & Evangeical Sun- 
day Seivice iftOO am & 1130 a mJ KUs 
Welcome- Ue Cuaastraat 3, S. Amstedam 
Wx 02940-1 5316 cr 02503-11 399- 

KJEV 

INTERNATIONAL CHRISTIAN ASSEMBLY 
(AOGL An EmEsM&guags, Wadenomna- 
bcnol rafanshp. Stnday Seruics 1030 am, 
Kiev Qxnci ol Trade l>nons BuMng. 16 
Khreschatfk Sired. Pastor Eldon Brown 
[7044} 244J337B cr 35CB- 

PARIS and SUBURBS 

ENMANUH. BAPTIST CHURCH, 56 Rue 
das Bons-Raislns, Ruefl-Malmaison. An 

EvangaScal church tor 0>e EngSsh speaking 
community located in tna western 
sdbute&S. 9*5; Wurttp; 1QAS. CWdrerfa 
Chuitfi'bnd Nursery. YoUh mhistrias Dr. B.C. 
Thomas, pastor. Can 47.51.29.63 or 
47.49.1S29 for rtonoafon. 

HOPE INTERNATIONAL CHURCH (Evan- 
SUL 930 am Hated Offoa MfoW f ; 
He La Defense. TeL 47.735154 
or 47.75. 1427. 

THE SCOTS KIRK (PRESBYTERIAN) 17. 
rue Bayard, 75006 Paria Metro FD Roose- 
veL FarrAy service & Sunday School Et 1030 
a.m. every Sunday. All welcome. 
For Herniation 48 7B 47 94. 

SAINT JOSEPH'S CHURCH (Roman 
Cdhofc). Masses Sinday: 9:45 am, 11:00 
am, 12:15 pm and 630 pm Saturday: 

1 f.-OO am and B30 pm Monday-Firfclay: 

830 am 50. avenue Hotfw, Paris Bti TeL 
42272856. Metro; Cferies deQaJte - Boia 

MUNICH 

INTERNATIONAL COMMUNITY CHURCH. 
EuangoICQl Btote Bofevina services in Enca- 
sh 430 am. S vxtays attnhLbersJr. 10 (U2 
Therestenar.) (0«p5O«i 7. 

TOKYO 

ST. PAUL INTERNATIONAL LUTHERAN 
CHURCH near GdafaaaN Sm. TeL: 3261- 
3740. Wtoretj) Savce: 930 am. Sundays. 

TOKYO UM0N CHURCH new Qmolesan- 

do subway sta. Tel. 3400-0047, Worship 
services Sunday 830 & 1130 am SS a 
9*5 am. 

USA 

K you would Rea a bee BUe cousa by mat 
piaase contact LTGLJSE da CHRIST, PjO. 
fecKSiaafflrtntntSana 47881 USA 

VIENNA 

VEN4A &MST1AN CENTH^ A CHARIS- 
MATIC FELLOWSHIP FOR VIENNA'S IN- 
TERNATIONAL COMMUNITY, * EngSsh 
Language * Ttans-denonnjnafionfd, meets el 
17, 1070 VfotTB, 630 pm Easy 
I. EVERYONE IS WELCOME. For 
more narration a* 43-1 -318-741 a 


THE EPISCOPAL CHURCHES 
OF EUROPE ( Anglian) 


PARIS and SUBURBS 

7>t AWEFSCAN CATHEDRAL OF THE HO- 
LY TRINITY, Sun. 9 & 11 am 10*45 am 
Sunday School for chadren and Nusoy cam 
Third Smfy 5 pm Evensong 23, avenue 
Georgs V, Paris 75008. TeL: 33n 47 20 1792. 
Mefes George V cr Alma MaiceauL 

FLORENCE 

ST. JAMES CHURCH, Sun. 9 am Rla I & 
11 am. RAa II. Via Bernardo Rucefca 9. 
50123; Florence. Bafy. TeL- 30552844 17. 

FRANKFURT. 

CHURCH OF CHRIST THE KING (Eptaco- 
paVAngtcan) Sul Holy Gommrion 9 & 11 
am Sunday School and Nunoy 10:45 am 
Sebastian Rhz SL 22, 80323 FrarMit. Ger- 
many, U1. 2, 3 Miqiad-AHee. Teh 49/69 
550184. 

GENEVA 

EMMANUEL CHURCH, IeL 3nJ & Sflh Sun. 
10 am Eucharist & and S 4tfi Sin. Marring 
Prayer. 3 rue de Monfhoux. 1201 Geneva, 
SMtKrtmd. TeL- 41/22 732 80 78. 

MUNICH 

THE CHURCH OFTVE ASCEN5KJN, Sun. 
11:45 am. Hoty Eucharist and Sunday 
School NuseryCaie ponded. Saytatfstfae- 
se 4. 81545 Mnkfo (HwtaJifeg). Germany. 
TeL 4909 6481 85. 

ROME 

ST. PAUL'S WITH IN- THE -WALL S , Sun. 
B30 am Holy Eucharist Rite l; 1030 am 
Choral Eucharist Rto H; 1Q30 am Church 
Sthool for crtUrenS Nursery care pnwdedtl 
pm Spanish EucharisL Via Napoi 58, 00184 
Rome. TaL 390 488 3339 or 396 474 3589. 

BRIISSELS/WATERLOO 

all SANTS' CHURCH, 1st Sin 9 & 11:15 
am Holy Euehartt wtfi CWterfe Chapel aL 

1in5iAloaiBrSindayss11:l5aml-foV&»- 
charist and Suiflby School 563 Chausafede 
Louwfo. Chain. Se^um TeL 32/23843556. 

WIESBADEN 

THE CHURCH OF ST. AUGUSTINE OF 
CANTERBURY. Srn 10 am Famly Eucha- 
rnL FrarWuter Strange 3, Wfesterfen, Gbp 
many. TeL 4901 1 .3066,74. 


EUROPEAN 

BAPTIST CONVENTION 


UNfTAUAN UNWERSAUSrS 


BARCejOMfcp*) 7230158. 

BRUSSELS: TeL; (32) 2-260 0226. 
or (32) 2-782-4293 meets 3rd Sun. of mordh. 
QBCVW8M (41)31-3523721 or 
(41)52-2320051. 

HEBEUERBi (49)6221-472116. 
WUSERSUU1BM: (40)63950505. 
HUNCK (4Q 821-47-24 86 or (48) 69-28- 

2326 meets 491 Sunday eadi ma at 2 pm 

Peace Ourh, Frauertobstr. 5, Muridl 
NURENBERQ: (49) 911-46-7307 or 
(31) 175-7-8348. 

NETHBRANDSk (31) 71 -14C08a 
RAMS: (33} 1-42 77 98 77. 

UK: (44)81-8910719. 

MBSBADBfc (49) 61 171-9461. 

For rforroeSm write: EUUota Hertz, Fryden- 
fovfc'rfj 49. DK-29S0 Vedbasr, Derm* (Fax 
+ Tel) (45) 42694184. 


BARCELONA 

FAITH FELLOWSHIP INTERNATIONAL 
meets at 9fl0 am. Bona Nova Baptist Chur- 
ch Caner da Is CUat de Balaguer 40 Peeler 
Lance Borden, Ph, 439-5059. 

RERUN 

INTERNATIONAL BAPTIST CHURCH, 
BERLIN. Rdfertug Sir. 13, (Stqjfe}.-B3fe 
study 1045. MHhip at 124)0 each Sunday. 
Chartes A. Warlord. Raster. Tel- 030-774- 
4670. 

BONN/K61N 

THE WTERNA710NAL BAPTIST CHURCH 
OF BOWJKOLN Rhereu Skasse 9. Kflh. 
Worship 130 pm CaNii Hogue, Pastor. 
TeL (02236) 47021. 

BRATISLAVA 

BUa Sfody h Eng&r. Psfeady Baptist Chur- 
ch Zrinsteho 2 1830-1745. Contact Paster 
JtsepKiAdc Tat 31 6779 


BREMEN 

NTERNATIONAL BAPTIST CHURCH (En- 
gish language) meets at EwngefctvFre8dr- 
chfich Kreuzgemeinde, Hohenlohestrasse 
HermanrvGoee-Str. (around the corner ham 
the BahnfoQ Sunday worahp 1730 Emesri 
D. Water, pastor. TeL 04791-12877. 

BUCHAREST 

INTERNATIONAL BAPTIST CHURCH. 
Sbada Ffopa Rusu 22. 330 pm Contact Pas- 
tor Ma Kemper. TeL 312 386a 

BUDAPEST 

NTERNAT10NAL BAPTIST CHURCH. 
meetefoMoricsZEaTnondGirTnazium.To- 
rokvesz U 48-54. Sindays- IDflOCotleeFei- 
towahip, 1030 Wotshfo. Tei<e Bub 11 from 
Beahyeny lar. Other meethgs. col Raster 
Bob Zbhden, TeL 2503932. 

BULGARIA 

INTERNATIONAL BAPTIST CHURCH. 
World Trade Center, 36, Drahan Tzanfcov 
Bfvd. Wbrshfo 1 1X10 ■ James CWte. Pastor. 
TeL 704367. 

CELLE/HANNOVER 
INTERNATIONAL BAPTIST CHURCH. 
Wirdmulen SJrassa 45, Cefe 1300 Wcrehip, 
1400 BUe Study, Pastor Writ Campbel, Pti 
(05141)46416. 

DARMSTADT 

DARMSTADT/EBERSTADT BAPTIST MG- 
StON. BUe study & Worship Suiday 1030 
am teadhTfestan DehEbersted, Bueschefetr. 
22. Bfote Study 930. worship 1045. Pastor 
Jim Wabb. TeL 06155600921B 

DU55ELDORF 

NT5TNAT10NAL BAPTtSTT CHURCH. En- 
gflsh. Worship and ChUdran's Church Surr- 
days at 1230 pm Meeting terrpotarty et tee 
Evangafisch • Fielachfiche Gemende h Ra- 
lingen, Germany (Kaisetbeig 11). Friendly 
FdtoAsrip. AS den o rrin a fions wefeome. For 
Uher Wormafcn csril tee paster D.WJ.Oe 
Lay, TeL 0211 -400 157. 

FRANKFURT 

INTERNATIONAL CHRISTIAN FELLOW- 
SHIP Evangatsch-Frek i ctiBchB Gomonde. 
Sodenerstr. 11- 16, 639 0 Bad Hamburg, pho- 

na/Febc 06173-62728 serving the Frankfurt 
and Taurus areas, Germany. Sunday wor- 
stup 09:45, nusfiry + Suidflyfichool lOdOO, 
women's bUe studies. Hausegroups • Sun- 
day + Wednesday 193a Pastor M. Levey, 
member EutJpean Baptel Convenfcn. 'Cto- 
ctera Hfe glory amongst foe nations.' 

BETHEL INTERNATIONAL BAPTIST 
CHURCH Am Dachsbeg 92. FianHul aM. 
Suxby worship 11 CO am arl 61X3 pm, I>. 
ThorrQsW.Ffl, paster. TeL: 069-54SESB. 

HEIDELBERG 

GRACfe INTERNATIONAL BAPTIST 
CHURCH. Indusbie Slr11,6902San(fiau- 
sea Bfcte s*u^ 0*45, worship i i«x Paster 
Paul Hendm. TeL 06224-S2295. 

HOLLAND 

TRwny BAirasr aasaa vwjcshb 103a 
nursery, warm fellowship. Meets at 
Bfoetncamplasn 54 in Wassenaar. 
TeL 01 751 -78024. 

MADRID 

MMANUEL BAPTIST. MAOTD. HEWAN- 
DEZ 0E TEJADA, 4. ENGLISH SERVICES 
11 am, 7 piri. TeL 407-4347 or 302-3017. 

MOSCOW 

NTERNATI0NAL BAPTIST FELLCWSHB 3 
Meeting 1100; Kino Center BuHng 15 Drtc- 
Dadirnkwsiiaya UL Sh Floor. Hal 6, Maro 
Station Barrlracnaya Paster Brad Stamey Ph. 
(095)1503293. 


MUNICH 

INTERNATIONAL BAPTIST CHURCH OF 
MUNICH, Hotzstr 9 Engfch Language Ser- 
vices. Bible study 1630. Worehfl Service 
17«J. PffitDi's phone: 6508534. 

PRAGUE 

I n tern a t i on a l Bapitet Feflowship meats a! the 
Czech Baptist Church Vnohradska 4 68. 
Prague 3. At metro stop Jnhoz Podebrad 
Sunday a.m. 11:00 Pastor Bab Ford 
(02)3117974 

WUPPERTAL 

International Baptist Church. Engfch, Ger- 
man. Persiaa Worship 1030 am Seferetr. 
21, Wuppertal - EberiefcL Al denominaeons 
welcome. Hans-Dieler Fraund, pastor. 
TeL 02004698384. 

ZURICH - SWITZERLAND 
INTERNATIONAL BAPTIST CHURCH ol 
W3denswl (Zurich). Rosenberptr. 4. 6820 
Wadenswi, Wocship Services Sunday mor- 
nings 1 1 0O. TeL 1 -724 2862. 


ASSOC OF WTL CHURCHES 
IN EUROPE &MIDEA5T 


BERLIN 

AMERICAN CHURCH IN BERLIN, cor. ol 
Clay Alee & Potsdamer Sir., SS. 930 am 
Worship 11 am TeL 030-61 32021. 

BRUSSELS 

THE INTERNATIONAL PROTESTANT 
CHURCH OF BRUSSELS. Sunday School 
930 am and Church 10:45 am Ko»*t»u 
19 (at the fni. School). Tel.: 673.05.Sr 
Bus 95. Tram 94, 

COPENHAGEN 

INTERNATIONAL CHURCH of Copenha- 
gen. 27 Fanrargada. Vartov. near Rftdhus. 
Siudy 10:15 & Worship 11:30. Tel.: 
31624785 

FRANKFURT 

TRMTY LUTHERAN CHURCH, Nbeluigen 
Alee 54 (Across kom Buger Hosptel). Swv 
day School MO, unshb 11 am TeL: (069) 

599478 or 51 ffi52. 

GENEVA 

EV. LUTHERAN CWJHCH of Geneva, 20 
rue Verdana. Sunday worsrip 93tt in Ger- 
mai IlflO in Engfch. Tet (022) 31 05089. 

JERUSALEM 

LUT1CRAN CHURCH of the Redeemer. Old 
City, Muristan Rd. Engfish nuotphip Sun. 9 
am Al are vteborne. Tel. (02) 2B1 -049. 

LONDON 

AMERICAN CHURCH in London 79 Tot- 
tenham Q. Rd, Wl. SS at 10.00 a.m., 
Wbnhfe d 11 DO am Goodga SI. tuba Tel: 
071-5802791. 

PARIS 

AMERICAN CHURCH IN PARIS. Worshte 
1 1 flO am 65. Quai cfOraay. Pans 7. Bus 63 
al dbar, Metro AimeMaroeai or InwaSdes. 

STOCKHOLM 

IMMAMJEL CHURCH. Worship Christ h 
Swedish, Engfish, or Korean. HOT a.m. 
Sunday. Birger Jarlsg. al Kungstensg. 
17. 46/08/ 15 12 25 X 727 for more 


TIRANE 

INTERNATIONAL PROTESTANT ASSEM- 
BLY, kladenomfoaiional & Evangeficai. Ser- 
vices: Srn. 1030 am, 500 pm. Wed. 500 
pmRnj^Mystym Shyri, TeVFax 35542- 

VIENNA 

VIBtINA COMMUNITY CHURCH Sunday 
worship m English 11:30 A.M., Sunday 
school, nusery, we ma to ns d, al denomxte- 
ttafowefeorne.Dana6ieeigasBel6,Vtama l. 

ZURICH 

INTERNATIONAL PROTESTANT CHURCH 

Engfch speateig. ywAsrip setvica Suiday 

School & Nursery. Sundays n 30 am' 
Sdiatrengasse 25 T6L (01) 2ESSSS. 


IT 

nday, 

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ige( 



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INTERNATIONAL HERALD TRIBUNE, SATURBAY-SUNDAY, NOVEMBER 5-6, 1994 


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Whites Flee Where South Africa’s Blacks Once Feared to Tread 


By Isabel Wilkerson 

Sew York Times Service 

JOHANNESBURG — After the cage of 
apartheid began to open up and the borders 
ofhis existence were no longer the pocked 
roads of Soweto, Vusi Makhubela found a 
peach-colored house in a white promised 
lan d with rosebushes and a two-car garage. 

It was there that he knelt with his family 
in a comer of his bedroom to thank the 
ancestors for die family's good fortune. He 


township life, with the clouds of dust from 
red dirt roads, break-ins, carjackings and 
government-issue matchbox houses. 

Though housing in Soweto ranges from 
squatters' shacks to relatively spacious brick 
homes in die more prosperous sections, the 
basic dwelling remains the bleak four-room 
tinder-block house. 

Few statistics are available on the number 
of blacks moving from Soweto or other 


sprinkled tobacco on the carpet, as the an- 
cestors must have their snuff, an 


and marked 

the sacred spot with his deceased father's 
walking stick. Outside, he planted a tiny 
sapling, which he named Watch Us Grow. 

The next day, a “For Sale” sign went up 
at the house next door. The people on the 
other side left a few months later. He never 
caught their names. 

Soon, more and more middle-class Sowe- 
tans replaced the departing whites. Now, 
two years later, his suburban town of Natur- 
cnainthered rock hills three kilometers east 
of Soweto has begun to fed like Soweto 
without tin poverty. 


townships into formerly all-white areas; it is 
commonly said that the 


In the three years since the iron restric- 
tions on black housing were repealed, a 
stream of blade professionals has packed up 
and fled the fourth-class citizenship of 


government does 
not know exactly how many people live in 
the townships, much less how many are 
leaving. 

Though millions of people are still 
crammed into these South African ghettos 
— it is estimated that as many as 4 million 
people live in the 105 square kilometers 
(about 40 square miles) of Soweto alone — 
even a tiny percentage of middle-class mi- 
grants is significant 

As blacks venture into new territory in 
search of the South African dream of a 
many- bedroomed house with a swimming 
pool, gardener and armed security re- 
sponse, they are leaving behind extended 
families and testing the possibility of inte- 
gration in a country where racism was the 
national policy until this year. 

In some places, like the modest suburbs 


closest to Soweto, the arrival of blacks has 
set off white flight to so-called gated com- 
munities farther put 
“They seem to be disappearing,” Mr. 
Makhubela said of the white neighbors he 
briefly had, “I don’t know where they are 
going. But there are more of us than of 
them. Wherever they disappear, we will be 
there, too.” 

In the wealthier suburbs, the few black 
pioneers often live in cold isolation, some 
turning to each other for comfort and an 
extra cup of commeal, some trying to cany 
out their cultural rituals without interrup- 
tion and returning to tire townships every 
weekend out of homesickness for friends 
and a familiar cacophony. 

Dr. Benjamin Mgulwa, a family practitio- 
ner who like all urban blacks had no choice 
but to live in a township, moved his family 
from Soweto to a white suburb of broad 
lawns and big houses four years ago. 

At the time, apartheid prohibited blacks 
from buying property in white areas. So he 
persuaded a white sponsor to sign for him so 
his family could live in their chic white 
house with a swimming pool in front 
Knowing that his family was defying the 
law to be there, Dr. Mgulwa tried to keep a 
low profile. But their dog, nervous in new 
surroundings, barked throughout the firsi 


night The next morning, a sign was posted 
on their gate from the next-door neighbors 
who had yet to greet them. 

It said, “Please make sure your dogs do 
not disturb us." 

The next day. Dr. Mgulwa went to a 
veterinarian to get his dog some sedatives. 

“I didn't want to initate anybody.” Dr. 
Mgulwa said. “It was not legal” to stay in a 
white area, and I thought they would put us 
out You don’t want to cause trouble.” A 
few months later, the neighbors moved. 

Others say they, too, feel as if they are 
wal king on pins and are constantly being 
monitored. 


TVith some white people, your child 
Jjustn’t cry, your dog mustn't bark,” said 
Onica Mabfletsa, a Soweto school adminis- 
trator who moved from Soweto to a white 
suburb with her two children. 


Many black suburbanites tell of the times 
their neighbors tried to hire them as garden- 
ers or maids. Gladness Ncobo, a real estate 
agent, was out in her yard planting peren- 
nials with her grown son when a neighbor 
came andasked if her son was available on 
Saturdays. 

M T live here,’ " Mis. Ncobo said, think- 
ing that would show the neighbor that nei- 
ther she nor her son was a servant. 


Then the neighbor turned to her and 
n<Vpri if she was av ailab le on Saturdays, she 
said. 

“ ‘I happen to own the place,’ " Mrs. 
Ncobo said she told the neighbor. “ ’IF you 
ask if I come on Saturdays, I don’t know 
what you mean.’ ” 

One of the biggest sources of friction is an 
rid tradition of animal killing, considered 
sacred by some African families but fright- 
ening to their white neighbors. 

On the day he and his family moved into 
their new white bouse, Dr. Mgulwa bought a 
sheep and slashed its throat in the driveway 
rirar the garage where his two Mercedes- 
Benzes were parked. As he did so, he called 
out to his dead father and grandparents nnd 
the ancestors of bis wife; Pamela, telling 
them that the family had moved, to welcome 
them to the new home and to ask their 
blessings. 

“It’s a tradition,” Dr. Mgulwa said. “I 
have to do iL I could not move without 
telling the ancestors.” 

In some cases, particularly when loud or 
larger animals are slaughter, the neigh- 
bors call the police and the Society for the 
Prevention of Cruelty to Animals to stop 
either the slaughter or the noise. 


Bomb Plot 9 
To Victim 
OfBlast 


By Clyde Haberman 

fin/ York Timet Savin 

• JERUSALEM— An Islamic 
militant leader who was killed 
by a car bomb in the Gaza Strip 
this week was himself- p lannT^ - 
a car-bomb attack inside Israel 
the Israeli mess said Friday. 

In a detailed article, Ha’arct 
identified the bomb victim, 
Hani Abed, as leader of the mfl. 
itafy wing of the extremist Is- 
larm c Jihad group and an orga- 
nizer of attacks m which Israelis 

were killed. 

The article was not sourced, 
but it bore the unmistakable 
imprint of Israel’s security ser- 
vices. It faded already intense 
speculation that Mr. Abed was 
killed by Israeli agents, either to 
avenge past incidents or to 
warn other Palestinian radicals 
what might happen if they con- 
tinue a new cycle of violence 


TRADE; A Weary Washington Is Turning Away From Japan Trade Fight 


Coatianed from Page 1 

optimistic stance last year. Just hours after 
Mr. Clinton signed a “framework accord” 
with former Prime Minister Kiichi 
Mfyazawa in July 1993, laying out a de- 
tailed series of sector-by-sector negotia- 
tions to be completed between Tokyo and 
Washington, his aides were contending 
that a huge breakthrough was at hand. 

David Gergeo, at the time Mr. Clinton’s 
counselor and top media adviser, told re- 
porters in Tokyo that major agreements 
and a decline in the trade gap were only six 
months away. “This time it will be differ- 
ent," he said. 

Bur after an initial era of good feeling 
that extended through last year's first sum- 
mit meeting of Asian leaders, the relation- 
ship with Japan quickly dissolved into a 


familiar exchange of threats and coun- 
terthreats. 

The first agreements, on insurance and 
medical and telecommunications equip- 
ment came only two months ago. Japan’s 
trade surplus, at least in dollar terms, con- 
tinues to rise. 

On the key issue between the two coun- 
tries — trade in autos and auto parts — 
there is still no agreement, and none is 
foreseeable for the next year. Even those 
officials who say that it is essential to keep 
up the pressure on Japan concede that the 
primary value of the talks is symbolic: they 
discourage other countries from emulating 
Japan’s practices and give credibility to 
Mr. Clinton's arguments for free trade. 

But there is a long-term danger, some 
Asian analysts say, that the shift of U.S. 
attention could come back to haunt the 


United States. Unless the largest U.S. 
companies invest more heavily in Japan, 
study after study suggests, they will fail to 
acquire Japanese technology and bring 
more of it to U.S. shores. 

Some economists and trade analysts ar- 
gue that the drive to focus on other mar- 
kets may indirectly prove productive in 
dealing with Japan. Placing an emphasis 
on Japan’s competitors, the theory goes, 
particularly in Asia, plays to some of Ja- 
pan’s national insecurities. 

“It’s not a bad strategy,” said C. Fred 
Bergsten, the head of the Institute for 
International Economics and the chair- 
man of a group of economists who have 
laid out the agenda for the Jakarta meet- 
ing. “It brings aboard the countries in Asia 
who agree with our goals and hate our 
unilateral tactics.” 


JOBS: Economists Dispute Wall Street’s Blues Over U.S. Economic Report 


Continued from Page 1 

tion, said Friday’s figures pointed to 
growth in the current quarter at an annual 
rate of 3.5 percent to 4 percent 
“The economy is growing at a pace well 
above what it can sustain without infla- 
tion.” he concluded from the figures. “The 
Fed will have to move ” 

Underlying signs of pressure on the 
economy have already been seen in rising 
incomes, raw material costs and delays in 
deliveries, but these have not yet showed 
up in retail and wholesale price levels, 
which will be reported next week. 

Most market specialists said the Fed’s 
next move had already been factored into 
bond and stock prices, and many agreed 


with labor market specialists that Wall 
Street was overreacting to the wage data. 

Mr. Gramiey said hourly wages were an 
unreliable measure and pointed to the 
broader and “more tranquil” index of em- 
ployment costs, which has risen at 3.2 
percent in the last year, level with inflation, 
and shows no recent signs of acceleration. 
This is the measure the Fed tracks, and “it 
shows no evidence of wage inflation,” said 
Robot Falconer of the Wall Street bond 
house Aubrey Lanston & Co. 

Audrey Freedman, a consulting labor 
economist on the board of Manpower Inc., 
the nation’s largest supplier of temporary 
workers, pointed out that wage costs actu- 


ally declined last year and now have mere- 
ly stabilized. 


She said Wall Street and foreign ana- 
lysts often ignored the increase in worker 
mobility through short-term employment. 
“We now have just-in-time workers the 
way we have just-in-time inventory,” she 
said. 


Anecdotal evidence hints at some short- 
ages — skilled metalworkers or truck driv- 
ers in Midwestern factory areas. But over 
all, the labor market has changed beyond 
recognition to one of much less security 
and low-wage growth — one reason the 
Clinton administration is not receiving po- 
litical credit for the recovery. 



RUSSIA: 

Minister Resigns 


CoBtumed from Page 1 

nance minister can enforce 
spending discipline by saying 
no to the many “vital” spending 
requests that come from minis- 
tries and even Mr. Yeltsin him- 
self. But a weak financ e minis- 
ter, or one who believes he 
should be subsidizing industry 
instead of worrying about the 
integrity of the budget and the 
currency, can upset the. best- 
drafted inflation targets. 

Mr. Panskov has no reputa- 
tion as a reformer. Western dip- 
lomats said. He worked in the 
Soviet Finance Ministry, and in 


that has gripped Israel and its 
territories for the last month 

All major political factionsjg 
Gaza, including Yasser Arafat 
Palestine Liberation Organiza- 
tion. have accused the Israelis 
of assassinating Mr. Abed, an 
engineering instructor and edi- 
tor of an Islamic Jihad newspa- 
per. He was blown up on 
Wednesday as he wait to his 
car in Khan Yunis. 

Israeli officials have made no 
attempt to deny the accusa- 
tions, Hamming to comment 
publicly while dropping strong 
hints that their security services 
are indeed capable of killing 
people they consider their ene- 
mies. 


There has been no shortage 
of calls for strong action against 
Islamic radicals after a series of 
anti-Israel attacks in October 


April 1992 he moved to the by the milit ant Hamas group, 
Stale Taxation Service as first capped by a bus bombing in Tel 
deputy chairman. He was ar- Aviv that IdDed 23. . 


rested in March 1993 cm bribery 
charges and spent several 
months in prison before the 
charges were dropped 

Mr. Panskov, Mr. Sh nkhin 
said, has already expressed 
doubts about the government's 
tough 1995 draft budget in his 


current job as deputy head of 
~ c. Yeltsin’s own financial- 


Mr. Yeltsin’s 
budgetary department 

‘It is hard to conduct finan- 


“If Haiti Abed was involved 
in murder and terror opera- 
tions, he does not deserve an 
apology,” Ha’aretz said in an 
editorial. “Rather, he got .the 
punishment coming to him, *f or 
they have sown the wind, and 
they shall reap the whirlwind’ ” 
The quotation was from Hosea 
8:7. 

On Friday, Prime Minister 
Yitzhak Rabin warned Mr. 


n io uui u w wuuuvi imair — _ _ j 

dal stabilization if you start Arafat, leader of the fledgLi# 
with questions about what the Palestinian self-rule in Gaza 


Saga Kjfpukbrn/Tbc Associated Pn» 

Alexander Shokbin explaining his resignation as econom- 
ics minister during a press conference Friday ii 


in Moscow. 


DEMOCRATS: Candidates Go for Broke in Raising Fears of a Cut in Retirement Benefits CAR: 

, , , . _ _ tuiing to meet the new market 

1 “s«^o I <«by thc Mniher Charsed need tou s hMSS - but not 

of the Office of Man- tdiwgcw for ^ ^ q{ l)Qut ^ mcss ^ fae 


Continued from Page 1 

rial Security policies and re- 
gained control of the Senate in 
1986 after haranguing the Re- 
publicans for supporting a 
freeze on Social Security brae- 
fits the previous year. 

The Democratic National 
Committee began airing adver- 
tisements this week stating that 
Republicans, ranging from the 
House Republican whip, Newt 
Gingrich of Georgia, to the Re- 
publican candidate for the Sen- 
ate from Virginia, Oliver L. 
North, bad proposed phasing 
out Social Security. 

In Pennsylvania, Senator 
Harris Wofford, a Democrat, is 
trying to overcome the lead of 
his Republican challenger, Rick 
Samorum, with an ad criticizing 
Mr. Santorum’s off-the-cuff 


proposal to raise the retirement 
age to 70. The ad pictures Mr. 
Santorum saying. “It’s ridicu- 
lous that we have a retirement 
age in this country of 65,” and 
concludes by saying: “Rick 
Santorum — He’s just not on 
our side.” 

Charles S. Robb, the embat- 
tled incumbent senator from 
Vir ginia, is r unning an equally 
stinging ad assailing Mr. North 
for suggesting that Social Secu- 
rity be made voluntary. 

A senior adviser to Mr. 
North acknowledged that the 
issue had hurt the Republican 
challenger. Mr. North held a 
news conference Thursday to 
announce that he had signed a 
pledge to “oppose any cuts, new 
taxes or means-testing of Social 
Security benefits.” 


The “Contract With Ameri- 
ca” plan, conceived by Mr. 
Gingrich and signed by more 
than 300 Republican House 
candidates on the Capitol steps 
in September, pledges to cut 
taxes, increase militaiy spend- 
ing and balance the budget, but 
there is nothing in the docu- 
ment that says Republicans 
would cut Social Security to 
help elimina te the budget defi- 
cit. The Republican plan i« vir- 
tually silent on how it would 
achieve a balanced budget by 
the year 2002. an omission that 
gave Democrats an opening to 
speculate on how the Republi- 
cans could reach their goal. 

Mr. Barbour stressed in an 
interview that while Republi- 
cans were looking at a number 
of ways to reach a balanced 


budget, none includes cuts in 
Soda! Security benefits. 

“There are many, many 
spending paths you can follow 
to balance the budget without 
touching Soda! Security,” he 
said. 

Mr. Gingrich proposed the 
contract as a way of “national- 
izing” and energizing congres- 
sional races, but Democrats 
and some Republicans say it 
was a mistake because it gave 
struggling Democrats an excuse 
to bring up a favorite subject. 

“This never would have hap- 
pened to the Republicans in 
this campaign if they hadn’t 
started futzing around with this 
contract,” said Geoffrey Garin, 
a Democratic pollster. 

Democrats are not immune 
to counterattacks. An OcL 3 


new minis ter thinks about it, 1 
Mr. Shokhin said. 

Mr. Panskov, in brief com- 
ments to the Itar-Tass press 
agency, tried to straddle stools. 
He said he wanted to combine a 
tight money policy with support 
for companies that are rcstruc- 
to meet the new market 


memo on 
director 
agement and Budget Alice M. 
Rivlin, that was disclosed to the 
press outlines some sticky 
choices for restoring confidence 
in the Social Security system, 
which is projected to run out of 
money by the year 2013. 

Among those options are 
changes in the cost-of-living ad- 
justments, phased-in benefit re- 
ductions (including retirement- 
age increases) and higher 
payroll taxes. 

But Republicans have been 
less successful in exploiting the 
Rivlin memo, which the white 
House has dismissed as a non- 
binding laundry list Dem- 

ocrats have been in exploiting a 
binding “contract” signed by 
hundreds of Republicans. 


EGG: 

Dinosaur Fossil 


Continued from Page 1 


the Gobi. They read even more 
into this prehistoric scene. Ly- 
the 


tag atop the nest was 
strange-Iookmg skeleton of a 
previously unknown dinosaur. 
It was identified as a carnivore 
that probably died in a sand- 
storm while sucking the Proto- 
ceratops eggs. So the fossil was 
named Oviraptor, which means 
“egg seizers” in Latin, and ever 
since its reputation has suffered 
accordingly. 

Mr. NorelTs discovery in the 
basin 200 miles (320 kilometers) 
from Flaming Cliffs has re- 
vealed that the dinosaur had 
been misnamed Determining 

that these were the eggs of the 
supposed predator itself, not a 
Protoceratops, amounted to a 
vindication for Oviraptor. 
“Rather than eating the eggs, 
they were incubating them or 
protecting them,” Mr. NoreU 
said. 

In the same nest, the scien- 



ARMY: Tape Captures Israeli Shooting a Palestinian 


NYT 


lists uncovered two tiny skulls 
of another type of carnivorous 
dinosaurs from the group 
known as dromaeosaurs, possi- 
bly VeJodraptor. 

The skulls may have been 
those of embryos or newborns. 
But to find these skulls in the 
same nest with an embryo of 
another species is extraordi- 
nary, paleontologists said. 

The little dromaeosaurids 
were most likely brought to the 
nest as food by the adult ovirap- 
torids. Or else they may have 
been predators, raiding the 
nest, or nest parasites, as cuck- 
oos are today. Adult cuckoos 
lay their eggs in the nests of 
birds of other species, abandon- 
ing them to be hatched and 
raised by the surrogate parents. 


Continued from Page 1 

praying at the Tomb of the Pa- 
triarchs by Baruch Goldstein, a 
Jewish settler who contended 
that no Arab should live in the 
biblical land of Israel. 

Soldiers at checkpoints ap- 
pear anxious and sullen, well 
aware of the haired around 
them and of their own vulnera- 
bility. Barbed wire and concrete 
barriers close off main roads 
and alleys, channeling even foot 
traffic through fortified army 
bottlenecks. Both sides here say 
kicks and beatings are everyday 
events. 

The soldiers are forbidden to 
speak with reporters. Several 
who tried, including one who 
said he saw Mr. Taminri’s 
shooting, were pulled away and 
reprimanded by superiors. 

On the morning of his death, 
Nidal Tamimi lot his father's 
fine stone house in the hills and 
walked to the checkpoint on 
Bab Zawfyeh Street on his way 
to the family clothing store. 

Friends and family said Mr. 
Tamimi, 24, was an angry man. 


disinclined to let an insult pass. 
He came from a prominent He- 
bron family and believed, they 
said, in defending his dignity. 

Something happened that 
Sunday morning at the check- 
point. Mr. Tamimi and one of 
the soldiers began to fight. 

The army’s official version is 
that Mr. Tamimi arrived with 
knife in hand and tried to kill 
the soldier, wounding him 
slightly in the head before being 
killed. “Security sources” told 
nearly every Israeli daily news- 
paper, as well as the state- 
owned radio, that the Palestin- 
ian was a terrorist from Hamas, 
the Islamic Resistance Move- 
ment 


Fatah martyr, and Hamas has 
made no claim to the contrary. 

Four men who saw some or 
all of the fight insisted that Mr. 
Tamimi was unarmed. 

“Three Palestinians have 
been killed here,” said Moham- 
med Saleh, 25, who sells ciga- 
rettes and coconut wafers from 


Continued from Page 1 

home to us.” Even as the news 
spread that Mrs. Smith was. to 
be charged with murder, minis- 
ters in Union held a prayer vigQ 
Thursday. Signs taped to col- 
umns on the courthouse said. 
“We love you, Michael and 
Alex, Susan and David.” David 
Smith is Mrs. Smith's estranged 
husband and the boys’ father. 

“No one here can believe it," 
said Gene Gregory, who runs a 
restaurant in Union. “People 
are sitting here oying, ‘Dear 
Lord, how can this happen?’ " 

Mrs. Smith had said that an 
armed man had jumped into 
her car, forced her to drive sev- 
eral miles outside of Union and 
then made her get out. She said 
she had begged him to let her 
have her children. As the man 
drove away, Mrs. Smith said 
she had yelled, “I love /all!” 

Based on her description of 
tbe kidnapper, a vague sketch 
was produced and distributed 


said. “If there is no money, it is 
not sensible to hand it over to 
anybody. The state has to sup- 
port production that is being 
restructured.” 

Mr. Shokhin, who has been a 
minister since May 1991, is one 
of the few surviving ministers 
from the government of Yegor 
T. Gaidar, who designed Rus- 
sia’s market reforms. Mr. Shok- 
hin has also been in charge of 
debt negotiations with creditor 
governments and banks. He 
said new uncertainty over eco- 
nomic policy was another rea- 
son to quit: “It would be hard 
for me to hold talks with our 
creditors and the IMF without 
knowing what sort of policy 
Russia is following.” 

The pretext for the latest 
changes is the investigation into 
the crash last month of the ru- 
ble, which lost a quarter of its 
value on a single day before 
recovering to about 3,100 to the 
dollar. Mr. Yeltsin dismissed 
the Central Bank chair man. 


and the West Bank town of Jeri- 
cho. that be had to clamp down 
op Islamic . groups seeking to 
imdenmne him. 

If Mr. Arafat cannot show 
that he is in control and that his 
police force will stop anti-Israd 
raids, then “it is doubtful" that 
he will be able to speak for the 
self-rule areas in dealings with 
Israel, he said. 

The suggestion seemed to be 
that continued attacks on Israel 
— which Islamic Jihad threat- 
ens as vengeance for Mr. 
Abed’s death — could torpedo 
negotiations to expand Pales- 
tinian autonomy throughout 
the Israeli-occupied West Bank. 
Mr. Rabin and Mr. Arafat are 
supposed to take up the future 
direction of those talks in a 
meeting on Monday at tbe 
northern end of the Gaza Strip. 

Aides to the Pales tinian lead- 
er said that he felt very much 
the man in the middle, caught 
between Israeli pressures to be 
tough and Islamic demands 
that he not act against his own 
people on Israel’s behalf. 


“Everybody is pressing us — 
the Israelis, the Americans, the 
Arabs,” said Nabfl Abu Ir- 
drina, an Arafat spokesman. 
“Everybody's gaining the price 
of peace except the Palestin- 
ians” 


. , t . , ..... — — — - The strains on Mr. Arafati* 

widely by the authorities. Sher- Viktor V. Gerashchenko, and were evident on Thursday when^ 

.fPc HmohM PHI aamte an A jjjg ac tjng finance minis lgr ~ - 3 - ■ 


a streetcorner standpahaps 30 


Witnesses dispute nearly ev- 
ery detail of that account. 

According to his family, Mr. 
Tamimi was loyal to Mr. Ara- 
fat’s Fatah faction. He joined it, 
they said, while jailed last year 


yards from where Mr. Tamimi 
died. “Always they say he had a 
knife. Just one of them had a 
knife. T amimi had no knife. He 
was beating the soldier with his 
fist” 

Accounts agree that other 
soldiers pulled the two apart 
and threw Mr. T amimi aside 
and that more than one soldier 
then shot at Mr. Tamimi, 
wounding him in the chest and 
torso. Accounts disagree on 
whether Mr. Tamimi was stand- 
ing or on the ground when those 
shots were fired. 

Mazen Dana, the free-lance 


iffs deputies, FBI agents and 
other law officers subsequently 
tracked down one dead-end 
lead after another, many of 
them tips from people across 
the country. 

CNN, citing an unidentified 
source, said Mrs. Smith became 
a strong suspect when investi- 


This past week, Mr. Yeltsin 
also fired a deputy defense min- 
ister, Matvei P. Burlakov, who 
was widely accused of corrup- 
tion by the Russian press. 


strong suspect wnen invest!- _ 

tors found a letter from a Foreign Workers Flee 
r riend idling her he wanted 


for throwing stones in the inti- journalist who ran to the scene 
fada, the uprising against Israeli with his camcorder, said he ar- 
occupation. Red-and-green rived after Mr. Tamimi had hit 

the ground and saw no knife on 
the pavement by his right hand. 


trot 

graffiti outside the Tamimi 
home hail the young man as a 


to be with her but be “did not 
want any kids around.” The 
boyfriend was not identified. 

Solicitor Thomas Pope said 
Mrs. Smith's confession led in- 
vestigators to her car Thursday 
afternoon. It had been driven 
off a boat ramp. 

Tie authorities said they had 
not completed their investiga- 
tion but were not inclined to 
think that her husband or oth- 
ers would be implicated 
On Wednesday, the police 
searched Mrs. Smith's home 
and took several bags. 

(NYT. AP) 


Rebels in South S udan 


Reuters 

NAIROBI — Aid agencies 
ordered their foreign staff to 
evacuate two southern Suda- 
nese towns on Friday, aid work- 
ers said, because a breakaway 
faction of the rebel Sudan Peo- 
ple’s liberation Army is ad- 
vancing on the towns. 

They said the UN World 
Food Program, Doctors With- 
out Borders and the British 
charity Save the Children told 
their 1 1 international staff 
members to leave the towns of 
Akon and Lietnhom. 


angry Gazans denounced him 
as a collaborator with Israel 
and pushed him out of a 
mosque when he tried to join a 
funeral service for Mr. Abed. 

There were more protests 
Friday as thousands of Hamas 
and Islamic Jihad supporters 
marched in Gaza City, de- 
nouncing Israel and also warn- 
ing the PLO that it had made 
“enough concessions to the Zi- 
onists.” 


But the anti-Arafat attacks 
lacked the fire of those thepre- 
vious day, and Islamic Jihad 
officials sought to keep the situ- 
ation from sp inning out of con- 
trol by apologizing formally to 
the PLO leader for the rough 
way he was treated at the 
mosque. The apology was ac- 
cepted, Mr. Irdema said. 

“We don’t want to be 
dragged into a civil war,” he 
said. “Violence begets vio- 
lence.” 


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INTERNATIONAL HERALD TRIBUNE, SATURDAY’-SUNDAY, NOVEMBER 5-6, 1994 


White House Prods Haiti to Speed Reform 

D.. I.L_ W n . . 1 


>' By John M. Goshko 

^4 Tod Robberson 

Wnsfungioa Past Service 

WASHINGTON — Six 
-weeks- after US. troops occu- 
pied Haiti, American officials 
are expressing relief that Presi- 
dent Jean-Berurand Aristide has 
so far delivered on his promise 
to foster national reconciliation 
and^thus helped avert violent 
dashes that many had feared. 

_ . . Thai success has come at a 
: !*«*> however, as Father Aris- 
‘ tide’s practice of consulting 
- widely before taking action has 
'■* significantly slowed the govem- 

1 meat’s work. The White House 
national security adviser, W. 
7' Anthony Lake, made a quick 
. visit to Port-au-Prince on 
Wednesday and Thursday to 
-discuss .with Father Aristide 
moves to push the process of 
r “ forming a government into 

r higher gear. 

7 - “It’s not a uniformly rosy 
. picture," said a senior U.S. offi- 
dal m Washington. “Political 
.developments — the problems 
of getting a government up and 

. , running so it can take control erf 
-I the day-to-day functioning of 
the country — are moving slow- 
... er; than we’d like.” 

7 r But the official added; “In 
terms of what was potentially 
the biggest and most immedi- 
/ ately worrisome problem — 

: averting the polarizations tha t 
could have caused serious vio- 
A lence and bloodshed — things 
• have been more positive than 
we hoped.” 

Mr. Lake said in Port-au- 
... Prince that the United States 
hoped to hand off its military 



AMERICAN 

TOPICS 


Tally Ho, but Spare the Fox 

_ On a recent brilliant autumn day, 65 
riders of the Essex Fox Hounds Hunt in 
Bed minster Township, New Jersey, and 
40 hounds chased a fox down a drain in 
the middle of an open field. The yelping 
bounds surrounded the narrow hole. 

“That's the kind of ending we like," 
said Dean Durling. master of the hunt 
“We’ve had a good brisk ride, and the 
fox goes to ground to be hunted another 
day." 

In England, farmers want foxes killed 
to keep them from eating chickens and 
geese, Mr. Durling told The New York 
Times, while in the United States, the 
object is to chase the animal “to ground” 
and call off the hum. 

“The death of a fox is the last thing we 
want,” he said. “We may chase 1 50 fox a 
year and may kill one or perhaps two at 


worst, and one the hounds catch is prob- 
ably sickly or lame." 

Some other people don't look so favor- 
ably on causing anguish to animal s The 
author Qeveland Amory, head of Fund 
for Animal s, a 200,000-member animal 


welfare group said, “I can't understand 
why, with all their expressed love of 
sport, they never consider the torment of 
tne fox being chased" 

Short Takes 

The Justice Department collected a 
record $3.1 billion from civil and crimi- 
nal defendants during fiscal 1994 ending 
Sept 30. it announced this week. The 
total was up from $1.5 billion in 1993 
and $1.7 billion in 1992. Cash collections 
totaled $1.83 billion from fines, restitu- 
tion, special assessments, court costs, 
loan recoveries and False Claims Act 
recoveries. Noncash collections totaled 
51-28 billion from property transfers, 
payments made to courts or agencies 
other than the Justice Department and 
offsets in which the government with- 
held money it otherwise would have 
paid. 

Cbow led to dao for the Montana state 
prisons chief, Mickey Gamble, The As- 
sociated Press reports. Mr. Gamble was 
removed this week after taking three 

women inmates — one of than a mur- 
derer and another a throat-slasher — to a 
restaurant for dinner. He said the night 
out was part of a program aimed at 
rewarding good behavior. Governor 
Marc Rad cot said it “went beyond the 
bounds of propriety.” Mr. Gamble con- 


Page 5 


ceded, “I made a serious judgment er- 
ror." 

General Ronald Fogjeman, just a week 
after «s qmi ' n fi his post as air force chief 
of staff, is revamping the unpopular no- 
frills unif orms introduced by his prede- 
cessor, retired General Merrill McPeak, 
in 1991. In an effort to give the air force a 
' more stylish, less cluttered uniform. 
General McPeak had stripped the “U.S." 
insignia from lapels and moved the rank 
insignia from the shoulders to the jacket 
cuff, navy style. Airmen complained that 
they were often mistaken for commerdal 
airline pilots or members of foreign mili- 
tary services. Now, the “U.S.” and rank 
insignia will go bade where they were. 

The Tera environmental agency has 
begun testing water wells on farms 
around the Pantex plant, which has been 
makin g conventional and nuclear weap- 
ons since World War II, to determine 
whether they are con laminated. Tests of 
two monitoring wells cm the 16,000-acre 
(6,400-hectare) plant near Amarillo 
showed unsafe levels of nitrates in the 
Ogallala Aquifer, an underground water 

system stretching 1,000 miles from Texas 
to North Dakota. Because the water mi- 
grates slowly through sand at about 200 
feet (60 meters) per year, environmental 
engineers say there is time to verify the 
contamination and check its spread. 

International Herald Tribune. 


President Aristide, right, and Anthony Lake visiting Gte Soleil in Port-au-Prince, Haiti. Peter Taylor, Novelist Who Won ’87 Pulitzer, Dies 


mission to a 6.000- member UN 
multinational force “in the ear- 
ly months of 1995.” 

“There’s a long way to go.” 
he said, adding that one of the 
primary responsibilities of U.S. 
troops would be to provide a 
secure environment for upcom- 
ing parliamentary elections. 


Kim Jong U Reaffirms 
* Powerful Socialism 9 


Cmnptted bf Ow Stiff From Dispatches 

'■ TOKYO — North Korea's 

- official media on Friday pub- 

• lisbed the political thoughts of 
“ the country’s new leader, Kim 

Jang U, in which he showed no 
'• signs of relaxing a commitment 
to hard-lme communism. 

The signed statement was his 
" second after nearly four months 

- of silence, and another sign that 
y he is becoming more visibly ac- 
: tive in leading the country. 

Observers have said North 
KorCa may be gradually estab- 
lishing Mr. Kim as the official 
’ leader following the death of his 

• % father. President Kim II Sung, 
/on July 8. 

- “Our party is constantly car- 

• rying forward the brilliant tra- 
dition of benevolent politics es- 

- tabfished by the grriai leader.: 
Comrade Kim H Song," said 
the statement, published Tues- 

; day and carried by the Korean 
Central News Agency on Fri- 

• day.. 

“Despite the demise of so- 

- ciafism in other countries, the 
North Korean version will tri- 

- umph,” Mr. Kim said. “Ours is 
" the most, advantageous and 

powerful socialism.” 

The article was basically a 
repetition of policies followed 

• by the elder Mr. Kim. 

Nozpma Aldznld of Meqiga- 


kuin University in Tokyo said 
the statement was proof that 
Mr. Kim was already head of 
the Communist state in all but 
official title. 

The 52-y ear-old Mr. Kim has 
not yet been appointed to cer- 
tain key posts, including state 
president and party general sec- 
retary. 

Observers said the article in- 
dicated Mr. Kim did not plan a 
relaxation of control such as 
China’s move to a market econ- 
omy. 

Also Friday. North Korea 
criticized a joint UJSL-Soulh 
Korean military exercise, say- 
ing it violated the spirit of a 
recently signed agreement with 
the United States aimed at halt- 
ing the North’s nuclear pro-,’ 
gram: ' ’ 

The North Korean official ' 
newspaper Rodong Sinmun j 
said the exercise poses a danger [ 
“because it is a war game j 
against the North.” 

U.S. and South Korean 
troops have begun the exercise, 
held annually since 1964 with 
the theme of rear-area defense. 
It involves far fewer troops than 
the animal Team Spirit maneu- 
vers, which were canceled this 
year after Washington and 
Pyongyang reached the nuclear 
accord. (Reuters. AP) 


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They were scheduled for mid- 
Deceuiber but now are not like- 
ly before February or March. 

U.S. officials in Haiti have 
expressed growing impatience 
with Father Aristide and the 
Haitian Parliament for not 
working hard enough to pass 
legislation to reform the elec- 
tion process and set a firm date 
for the vote. “It’s very, very im- 
portant that the elections be 
held as soon as possible, consis- 
tent with them being free and 
fair," Mr. Lake said. 

Mr. Lake also said the Unit- 
ed States had no intention of 
taking on responsibility for dis- 


arming anti-Aristide remnants 
of the Haitian military and at- 
large paramilitary “attaches” 
before the handover to the 
United Nations occurs. 

■ Troop Return Is Unclear 

About half the 15,200 U.S. 
troops in Haiti are likely to re- 
turn home by Dec. 15. The New 
York Times reported from 
Washington, quoting a briefing 
by Lieutenant General Henry 
Hugh Shelton, who led the U.S. 
landing in September, in Fort 
Bragg. North Carolina. 

In Washington, however, a 
spokesman for the Pentagon 
said that no date had been set. 


The Associated Press 

CHARLOTTESVILLE, Vbginia — Pe- 
ter Taylor, 77, a Pulitzer- Prize w innin g 
novelist whose stories poignantly chroni- 
cled the slow disappearance of the South- 
ern aristocracy, died of pneumonia here 
Wednesday. 

He won Lhe 1987 Pulitzer Prize for Lfae 
novel “A Summons to Memphis," about a 
man called home by his sisters to stop their 
widowed father from remarrying. It was 
Mr. Taylor’s first novel in nearly 40 years; 
he was best known for his shorter fiction, 
novellas and short stories. 

“I write not because 1 want to. but 
because I have to," he said in an interview 
after winning a Pulitzer at age 70. 

Mr. Taylor's latest novel, “In The Ten- 
nessee Country," was praised by critics 


when it was published in September. It 
tells the melancholy story of a man looking 
back on his life. 

Born in Trenton, Tennessee, he pub- 
lished his first book in 1948. “A Long 
Fourth and Other Stories." 

His stories included elaborate descrip- 
tions of the well-heeled world of the South- 
ern gentry in Nashville, Memphis and oth- 
er cities. Many of his characters struggle to 
adjust to the end of the lush lifestyles of 
their childhoods. 

His collection. “Hie Old Forest and 
Other Stories," was released in 1985 and 
won a PEN-Faulkner award. “Summons 
to Memphis" won the $50,000 Ritz Paris 
Hemingway literary prize in 1987. 

Mr. Tavlor lived in Charlottesville, 


where he was a professor emeritus of Eng- 
lish at the University of Virginia. He also 
taught at Harvard University for many 
years. 

Richard Knuitfaeaner, 97, an American 
art historian known for his works on early 
Christian and Byzantine art, died Tuesday 
in Rome. The German-bom scholar taught 
at New York University and moved to 
Rome when be retired after Worid War II. 
He was professor emeritus at the Hert- 
ziana Library in Rome. 

Sydney Demley, 73, Britain’s last sur- 
viving han gman, who took part in the 
execution of 25 people before the abolition 
of Lhe death penalty in 1969, died of a 
heart attack Tuesday in Mansfield, Eng- 
land. 


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MEW YORK FASHION 


TRIBUNE, SATURDAY-SUNDAT, NOVEMBER 5-6, 1994 


ART 



Thinking Pink Thoughts for ’ 95 Geneva: Contemporary at Last 




By Suzy Menkes 

International Herald Tribune 


N ew york — 
“Think Pink!” has 
a special resonance 
for fashion folk. It 
comes from the “Funny Face" 
film of the 1950s, when de- 
signers set trends, editors set 
standards and ladies quaffed 
champagne in little white 
gloves. 

Has nothing changed 40 
years on? The New York 
shows for summer 1995 are 
blushing pink. Ralph Lauren 
had girls m pink satin pants, 
rose printed dresses, Peter 
Pan collars — and little white 
gloves. The first 20 outfits at 
Bill Blass’s show were in 
marshmallow through sugar 
candy colors. 

“It’s such a relief," said 
Blass back stage, "With ah 
that is going on.” 

The New York runways 
have turned from the harsh re- 
ality of the movie “Pulp Fic- 
tion” to pure fiction. In its es- 
capist way, the season has 
produced some pretty, wear- 
able, uptown clothes. Blass and 
Oscar de la Renta both gave 
upbeat shows Thursday, free 
of the retro references that be- 
devil younger designers. 

T -aiiren, after a few seasons of 
time travel, came back to 
America — all rangy blondes 
in classic Mazers (think pink 
braiding). It was a convincing 
show of feminized dressing. 
But is pink (think diy-cleaning 
bills) really the image for mod- 
em women? Is shiny satin? Are 
those white gloves? 

As an idyllic escape from 
New York’s multi-ethnic mean 
streets, Lauren’s show worked. 
The dresses were graceful: tai- 
lored pinstriped sheaths with 
white collars; slips, flaring out 
from the hips and decorated 
with dots or bouquets of flow- 
ers. To make dresses credible 
for work, a pastel jacket or 
cardigan slipped on top, but 
the jacket, instead of being the 
pivotal piece in the wardrobe, 
became an accessory. 

Yet the silhouette was still 
sporty — and not just in the 
Polo sport range of scuba suits 
and satin tennis skirts at the 
show's start. Without invent- 
ing anything new, Lauren 
softened the look, by using 
pink, powder blue, peach or 
vanilla and mixing satin pants 
with fluffy wool jackets or a 



Flower-print summer dress from Ralph Lauren. 


polo shirt in opalescent se- 
quins. All that, and Frank 
Sinatra on the sound trade. 
How very reassuring in a con- 
fused fashion world. 

Blass was not confused. He 
was in fine form, sending out 
perky suits with short-sleeved 
jackets and flared skirts in sug- 
ar pinks with gingham checks. 
Saucy were cashmere bustiers 
or a whoosh of chiffon at the 
back of a cocktail dress — an 
uptown take on Vivienne 
Westwood’s bold bustles. 

Blass did hot fUrt with the 
dowdy-is-chic knee-length 
hemline. But then be knows 
who his customers are: Man- 
hattan socialites like Anne 
Bass, Pat Buckley and Nan 
Kempner, who must have felt 
the show perfectly judged for 
their wardrobe needs — sleek 


pantsuits, a smattering of flo- 
ral chiffo n dresses and all that 
sugar-pink tailoring. 

The excitement at de la 
Renta's show was the appear- 
ance of the actor Mickey 
Rourke, disheveled in a shirt- 
less suit, d aimed by the tab- 
loids to be stalking his ex- 
wife, the model Carre Otis. It 
looked as though this whiff of 
downtown might pollute die 
runway, as de la Renta sent 
out his version of streetwalker 
style: shiny patent-leather 
coats in lime green, scarlet 
and (don’t you know) pink. 
But the hard edge soon soft- 
ened into suits with an em- 
bryo bustle gathered at the 
b aide of the short skirts or slim 
paneled dresses (white collars 
and cuffs optional). 

Cocktails at 8? Here’s a 


pretty little number in lace 
with bows down the spine — 
or satin shorts if you fancy 
yourself as a Las Vegas Keno 
girl (Pat Buckley laughed it 
off stage.) On and long went 
the show: evening gowns in 
douds of chiffon with flower 
wreaths in the hair; plqpk 
bodices, cashmere bustiers, 
dresses diced away at one 
shoulder or -with ballet-length 
full darts & la Grace Kelly, 
lime to go? In floating pei- 
gnoirs over wispy teddies, the 
models looked set for bed. 

The younger you are as a 
designer, the further into retro 
you plunge. Anna Sui did the 
1940s — or maybe it was 
Swinging London’s Elba store 
re- via ted — all dark dresses 
with bunch-of-flowers prints, 
marabou feather boas, Lurex 
socks and platform-soled 
shoes. The sexual charge and 
dubland clout of Sufs clothes 
make them seem 1990$, rather 
than flea-market chic. But for 
all the meny energy of her 
show, there seemed less to the 
crystal-pleated knee-length 
skirts, the silver-] ami dresses 
and the see-through chiffon 
dresses than meets the pho- 
tographer’s eye. 

W ITH a Hollywood 
clientele back 
home and Cindy 
Crawford in a 
corset-seamed dress on the 
nmway, Richard Tyler should 
have produced a glam slam. 
But the fit of his curvy lami- 
nated suits and S-bend dresses 
made even the supermodels 
look like they had weight 
problems. The over-tbe-knee 
hemline is difficult to pull off, 
and when a belted jacket went 
over the straight skirt or a 
dress was final with seams 
like corset stays, the effect was 
of old movies rerun. But Tyler 
has a good sense of glamorous 
fabrics, from gilded alligator 
print to shimme ring satin and 
sparkling lam 6. And his fine 
workmanship included open- 
work fagoting effects that let 
in some fresh, modem air. 

Victor Alfaro thought wa- 
termelon-pink for his opening 
slip of a dress and black for 
his closing passage with 
sweater, belted with rhine- 
stones, over a pleated skirt. In 
between came uptown eve- 
ning looks from shiny sflbn 
shorts to pastel cashmere polo 
shirts to the knee-length dress. 
They are the trends of the 
New York season. 


By Alan Riding 

New York Tunes Service 

G ENEVA — This city of bankers 
and diplomats may be one of 
Europe’s richest, but persuad- 
ing it to spend money on the 
arts has never been easy. That helps ex- 
plain why it has taken 20 years to establish 
the new Museum of Modem and Contem- 
porary Art. 

The wealthy Swiss and foreigners 
drawn to this city also see little reason to 
spend their own money on the arts, which 
further explains why, when the museum 
finally opened last month, its home was a 
modest, tum-of-the-centuiy factory and 
not some fancy architectural creation. 

Fortunately, the museum has found a 
director who is happy with his lot “I 
would not ran a museum built by an 
architect,” said Christian Bernard, 38. 
“In the 1980s, it was terrible how politi- 
cians and architects decided the fate of 
museums in ’Europe and the United 
States." 

Here, then, the buffeting is not the star, 
although it is hardly without character. 
Its concrete floors still carry the marks 
where machines making precision instru- 
ments once stood. And its ample space 
gives it the mood of a loft museum, ideal 
for sprawling installations. 

For the moment, though, what seems to 
matter is that it exists. “At the opening, I 
felt a great sense of collective pride," 
Bernard said. “1 saw people crying, not 
because they were moved by a piece of art 
but because, after 20 years of talking, no 
one believed this would happen.” 

In 1974, a private association was 
formed to promote the creation of a mod- 
ern-art museum here and it collected an 
and received donations. Finally, in 1989, 
the city bought the factory for S 15 milli on 
and eventually found $2.5 million to con- 
vert it into a museum, which is now run 
by a private foundation. 

Because of the original idea of its pro- 
moters, the museum still carries the name 
“modern," but in truth it is dedicated not 
so much to works from early in this centu- 
ry as to the more recent contemporary 
art 

“You can’t create a modem an muse- 
um from scratch today because the pieces 
are simply not available,” explained Refl- 
ate Cornu, a museum official. 

In any event, it is not what interests 
Bernard, who until recently ran Villa Ar- 
son, an an center and school in Nice. He 
wants to create “a museum of our rimes.” 
one that reflects the values of today’s 
artists and not necessarily the immediate 
tastes of today’s public. 

“We’re not here to present the accept- 
able face of contemporary art," he ex- 
plained, “but rather what is most impor- 
tant and interesting of the past 30 years. 
Our choice is not shaped by its possible 
reception. Reception cannot be easy. It’s 







Samer Mobdad/VU tot Tie New Vtat. Tire 

Museum director Christian Bernard and John Ahems’s “Pluto.” 


the destiny of contemporary an to be far 
from the mass public. 

Even though they are alive and still 
working, then, the figurative an of, say, 
Balthus, Lucian Freud and Antonio Lo- 
pez would not find a place in the museum. 

“For me, they are prewar artists," Ber- 
nard said. “They are very important, but 
they do not participate in the definition 
of form in our rimes.” Marcel Duchamp, 
though, is present as a form of icon. 

What the museum director can display, 
of course, is largely determined by the 
1,000 works of art collected by the associ- 
ation over the last two decades. But his 
choice is increased by temporary exhibi- 
tions and loans. “Loans must be for a 
minimum of 5 years and a majority are 
for 10 years,” Cornu said. 


E VEN so, Bernard is jpicky. “I 
won't have collectors forcing us 
to show their works,” he said. 
“We’re not making a museum 
for collectors, bat for art and artists. We 
recently refused an $800,000 donation 
from someone who wanted to impose his 
ideas on us." 

As it was laid out for the opening, with 
300 pieces on display, the museum in- 
tends to present a broad overview of dif- 
ferent forms of contemporary art, rang- 
ing from Minimalist sculptures and 
varied installations to video and graffiti 
art. 

The first temporary exhibition is a se- 


ries of geometric bronzes 'called 
“For . . by Tony Smith, now dead, 
daring bade to 1969. 

Two of the largest open spaces are also 
given over to sculptures, white cubes in 
assorted shapes by Franz West of Austria 
and black cones and cylinders by the 
Canadian artist Royden Rabinowitch. 

Another space has been named “The 
Street" and is dominated by an old rail- 
road van transformed into “Open House’’ 
by the American sculptor Gordon Matta- 
Clark. 

Oneof the most unusual installations is 
a reconstitution of the apartment owned 
by the French collector Ghislaine Mollet- 
VieviDe, which Bernard decided was an 
expression of Minimalist and Conceptual 
art in its own right 

More familiar is George Segal’s 1967 
all-white installation “Motel Room,” 
which shows a woman curled up on a bed 
and a man standing over her. 

Bernard encourages artists to arrange 
their own works. Martin Kippenberger, 
of Germany, has brought many of his 
objects as if to show off their extraordi- 
nary variety of styles. 

Swiss artists are best represented by the 
late Jean Tinguely and Franz Gertsch, 
while the United States is present through 
works by, among others, Donald Judd. 
Sol LeWitt, Sherri Levine, Dennis Op^ 
penheim, Robert Morris and Keith Har- 
ing. 






Fine Asian Works of Art A 
European Paintings at Auction 

Burn inn inr, BiHjAimiAif 




Fme Asian Works of Art 
Auction; November 16 & 17 
in San Francisco 
European Paintings 
Auction: November 22 
in San Francisco &. Los Angeles 
Indudutg “Floes' by Aupste Roots 



Fme pair of lirgt fanulk raic' emmekd heng- Pfrietnn, Vhm md. Monptm, Reybet, 
oral award jan, Ycsagzhcng period Canned, Rtggian i m and QttaehSeg. 

Inquiries or catalogues: 

In AeUXQsekUardet TeL 44$) 892-11)46 Fax 44 (81)244-064 
In the United States, 

Asian Art SpeaaBstDasa Goddard TeL (41s) 8&17500 exL 242 Fax (415) 861-8991 
Emfmt Painting SpeddatGniRsdttt TeL (fif) 8617500 ext iff Ru (419)861-8^ 
To pgrdsse a catdogae in the UJk 1-800-323-2854 exL$2$ 


WEmaniairfy«cap6i»go »a i gpM e ntt &fBfa MMgmciina8 . For more jnfimanon 
[dene all (415) 861-7500 eg. go or send t photograp h with d u nenri om tndtay 
penmate infomaioa to 210 Sm Bruno Atone San Fnndscot CA 94103 


J. J. Lally & Co. 

ORIENTAL ART 



41 East 57 Street New York.. NY 10022 
Tei (212) 371 -3380 Fax (212) 593 - 4 69 Y 


ART EXHIBITIONS 

XVIP 

BIENNALE INTERNATIONALE 
DES ANTIQUAIRES 

avec le Livre Rare et la Joaillerie 

From 10th to 24th November 1994 
Opening Lours daily From 12 p.m. to 9 p.m. 
Monday and Wednesday to 11 p.m. 

CARROUSEL 

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Gala Opening : 9th November I99-* at S p.m. 



HA 3 IAGCCHI 

Nov. 14 - Dec. 14 

KUNSTSALON FRANKE 

3r?efsncrstf3sse 7. 50333 Muachca 
P.aore: {4=-89j 22-5-33 Fax. 22-2525 


International 
Herald Tribune 
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Experts available 


AUCTION SALES 


Buddha Ami da Nyorai. Japan. 

H. 125 cm: Esi.: DM 140.000.-. 

OftXENTALART 
Nov. 25/26 

Preview in Cologne: 

Nov. 19-2 A 1994 
Catalogue: DM 35.- 

LEMPERTZ 

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To Place 
Your Ad in 
the Arts Section 1 
please contact 
your nearest 
IHT office, 
representative 
or Kimberley GUERRAND- 
BETRANCOURT 
181. Avenue Charies-de-GauJte, 
92521 Neuffly Cedex, France. 
Tel.: (33-1) 46 37 94 76 
Fax: (33-1) 46 37 93 70 



Warhol’s ‘Shot Marilyn’ 
Again Gets Star Billing 


New York Times Service 

N EW YORK — In three and a half minutes, Andy 
Waihol again catapulted to the lop of the art market 
At Christie’s brilliant auction of contemporary art, 
Warhol's “Slot Red Marilyn,” the famous 1964 silk 
screen of Marilyn Monroe with a repaired bullet hole over the left 
eyebrow, fetched S3.6 million, above Christie's estimate of $2.5 
million to S3 million. The painting, one of the most famous images 
in contemporary art, was sold to an unidentified telephone bidder. 

This was not just any image of the actress, but the one that 
fetched a Warhol record of $4.01 milli on a t Christie’s in New 
York in 1989, at the height of the market. The buyer then, Masao 
Wanibuchi a Tokyo-based tailor and collector, was the seller on 
Wednesday night. And everyone considered the 1 994 price, just 10 
percent less than its record, a triumph. 

Warhol collectors weren’t the only happy campers at Christie's. 
Of the 50 works up for sale, 44 found buyers. The sale totaled 
$14.5 million, just below the high estimate of $14.9 million 


auction sales 

IN FRANCE- 

fJJ DROUOT RICHELIEU 

ySjj! 9, Rue Drouot, 75009 Paris -Tel.: (1) 48 00 2020. 

Thtx’sday, November 10, 1994 

Boom 9 at 2 pan. - MAJOLICA. MILLON ROBERT, 19, rue de la 
Grange Bateitere, 75009 PARIS. Tel.: <n 48 00 99 4* - Fax- ( 1 ) 
4800 98 58. 

Wednesday, November 16, 1994 — 

Rooms 5 & 6 at 2rlS pjn. - 1 8th and 19ih Century FURNITURE 
AND OIJJETS D ART. Experts: MM. O. Le Fuel and De L’Esrxfe. On 
view: Tuesday. November 15. from 11 njn. to 6 p.m. ADER TAJ AN, 
37. rue des Mathurins, 75008 PARIS. Tel: ( 1 ) 53 30 30 30 - Fax: <11 
53 30 30 31. In NEW 1 ORK please contact Ketty Maisonrouix & Co. 
Inc. 16 East U5th Street. Rfih floor, N.Y. 10021. Phone: (212) 7*7 Vi 
97 / 737 38 13 - Fax: 1212) 861 14 34. 

Friday, November 18, 1994 — — 

“I 2 p ta - -.FURNITURE AND OBJETS D ART. MILLON 
ROBERT, 19, me de Li Grange Ualeliere, 75009 PARIS Tel ■ (11 
48 00 99 44 -Rix:(l >48 00 98 58. U 

Sunday, November 20, 1994 — 

Room 6 at 230 pan. - VIOLONS. MDJLON ROBERT, 19. me de la 
Grange Batelifcre, 75009 PARIS. Tel.: (J) 48 00 90 4 h - Fax (1) 
18 0U 98 

Wednesday, November 23, 1994 

r“™ in- OL ^p A S R S' 
“K “° ,diirc ' 7,009 PAR,s: 

Friday, November 25, 1994 — 

m " CU ^ ***> watches collection. 

MulX/N ROBERT, 19, rue tie In Grange BateJieifc 75009 raric 
T eL: (11 48 00 99 44 - fiw: ( 1) 48 00 OBsf ’ ^ 


37 rue des Malhurins 
75008 PARIS, 


TEL- (33.1) 53 30 30 30 
FAX: (33.1) 53 30 30 31 


Tussdoy, November 15, 1994 — — 

GENEVE - HOTEL DES BERGUES 

33, qua des Bergues, 1201 Genfeve 

JWBianr. Experts: R. Dechnut 

"iJJ- s „ c1, “- f- £ Mk- Ch. Hcauvois. On view at 
Geneva: Hotel de 5 »cr 8 ijes. 33, qua! des Bergues. 1201 
Geneve. Mt«ndsiy. November I I. II si.ni.-CI p.m., Tuesday 
Novemlvr if,. 10 a m.-4 p.m For information, please contact' 
in 1'jn.v Florence GKthur - Tel.. ( I * 53 30 30 30 fen Vtfil - 
Fax: (!) S 3 30 30 31 In Lausanne: Catherine Niederteiustr 
Grantl Uiene H. 1003 Liusanne. Vaud. Tel ■ (19 41 > ?i lune 
IWI9 - <19 II I 21 W 51 W. A27ER Ta|aN, J7 tS 

Malhurins. 75008 PARIS. Tel: ( 1 ) 5.3 30 .50 3 ? . Fax- (1155 W 

Keny MaisrimpuRe &Oj 
Iik-. K* Fjust ft5th Street, fifth llixjr. N.Y. 10021. Phone (2l 7 ) 
737 35 97 / 737 38 13 - F.L\: (212) 8f,l 14 34. } 


j* V&P 














INTERNATIONAL HERALD TRIBUNE 


A Golden Age of Illumination 

Manuscript Show Is a Gripping Journey Into the Past 


fwntationd Herald Tribune 

— Cultural distance is best 

““sored by the books we read. Of all 
tbc j ouraeys mto the past, few are 

r 

Aithoogh toe title dwells on the artistic as- 

• &^f #i ^ hlbl 5 Gn “■ton much more than 
mtnmnatton and nmuato re painting. It pnto 

SOUBENMEUKIAN 

SjSfeL tj® ““^fantastic body of evidence 
revealing how far Western culture has moved 
front the period hailed by hist^wianq as the 
beonning of Modem Thus. 

The Bible remained essential reading for the 
literate ehtc. But it was given a guise that would 
“J^^putraged readers only decades earlier. 
Florence, the city where Antiquity was first 
rediscovered, was the seat of the subversion 
that spread to the rest of Europe. Few works 
say as much about the intellectual revolution 
- fhat was going to shake the Western world to its 
foundations as the set of volumes commis- 
sioned by Prince Manuel of Portugal in 1494, a 
year before his accession to the throne. The 
contract was signed os April 23 with the most 
famous of bool: painters in Italy, Attavanle 
degli Attavsnti. The complex system of 
devised by Manners agent, a Florentine mer- 
chant, should the illuminator fail to meet his 
string of deadlines, leaves no doubt that the 
paintings were seen as the crucial dement. 

They give the teachings of the ancient Semit- 
ic world a thoroughly Roman garb. The frontis- 
piece to volume II represents a Greco-Roman 
porch. On the wall at the far end, the table of 
contents is written out in gold capitals cm blue 
ground, in imitation of Roman monumental 
stelae. The inscription appears above an altar 
that looks more like some Roman stone sar- 
cophagus with low relief carving On the long 
side, a reclining woman is dad in Roman 
drapes that allow one breast to be seen. Thao 
could not be a more incongruous introduction 
to the Bodes of Joshua, Judges, Ruth and I-IV 
Kings that make up the volume. 


A NTIQUITY had become an obses- 
sion. It was the primary source of 
philosophical t hinkin g, scientific 
knowledge, and even light-hearted 
amusement. The writings of Greek philoso- 
phers, passed on to the West by the Arab world 
where they had survived destruction, were sys- 
tematically translated into l-atin, the interna- 
tional language of cornmimiration in Europe 
from Roman times to the late 16th century. The 
.process was as lengthy as it was costly. It was 
thanks to Peter Ugclhcuner, a rich German 
entrepreneur who had made his fortune in 
bookbinding, among other things, that the 


funds needed for finishing the translation of 
Aristotle's “Problems ta” were made available 
to Petrus de AJbano. 

. Ugelheimer co mm issioned a German in Ven- 
ice, Johannes Herbort of Seligenstadt, to un- 
dertake the printing which was completed on 
Feb. 25, 1482. He then had the vellum pages of 
his copy beautifully illuminated. 

In tiie opening double page, one side carries a 
full-size miniature. A Renaissance altar stands 
in an open landscape, with a cryptic motto in 
Roman capitals at the top “the solution to 
e ni g ma s considers the sign/the ensign.” On the 
other side, the primed text begins inside a 
painted frame simulating in trompe 1’oeO a 
border of Renaissance jewels. The entire page 
in turn stands in a landscape admirably done in 
a style betraying the influence of Durer and the 
Donau Schule. 

At the top of the page, the translator is 
exquisitely portrayed inside the circular frame 
of the initial letter. At the bottom, in the mar- 
gin, a white-bearded Muslim of Turco- Iranian 
appearance stands for Ibn Rushd or Averroes 
as the great 12th-century Arab commentator of 
Aristotle is known in the West In another 
volume of the same set, Ibn Rushd reappears, 
reclining on a Turkish rug and balancing an 
armillaiy sphere on his knee. This is a reminder 
that just as Greek philosophy arrived in Europe 
via the Muslim world so did astronomy, iis 
astrolabes and its armillary spheres. 

There were lighter moments, but even for 
these, the Renaissance man would turn to An- 
tiquity. Plautus, who lived in Rome in the late 
third to early second century B. C„ wrote his 
“Comedies” drawing on Greek models. To the 
15th-century reader, fun was not just words, it 
lay in a mix of visual sophistication, recherche 
literary allusions and cartoon-fashion hilarity 
that has no equivalent in our time. 

The title page to the first play in a volume of 
the “Comedies” executed in the 1460s for Lo- 
dovico Gonzaga, marquis of Mantua, is a mas- 
terpiece of the genre. Self-deriding humor be- 
gins in the margins — covered with intricate 
tracery in blue on gold, in which roundels are 
inserted. 

In one, Gonzaga's French mono. “Amour 
vrai ne se change” (True love does not change), 
is written on a branch curving like a loop on 
which the dove of love is perched. In another, 
higher up, a green dragon flaps its batlike wings 
and frowns with concern as it watches the 
goings-on in the tableau painted over the text, 
inside the margins. A noblewoman is seen sit- 
ting up in a stately bed and raising one hand to 
ralm down her excited female attendants. One 
of these, leaning against the lower end of the 
bed, is about to pass out, and another runs out 
of the room, while a baby Hercules in its cot 
strangles a dragon with just one hand. All this 
takes place under the watchful eyes of a Greek 
philosopher and a turbaned sage, presumably 
Muslim. The multiple parodies of the terrifying 


and of the heroic in the sophisticated garb of 
exquisite illumination exude a humor that grad- 
ually grows on the viewer and becomes irresist- 
ibly funny. 

A more subtle nuance of humor curiously 
creeps into theological manuscripts. The ulti- 
mate in this line is a miniature found in a 
volume of Saint Jerome's “Epistles” copied 
around 1478-1480. The saint, dressed in a car- 
dinal's red robe, is seated under a Renaissance 
porch, steadying a book on his lap and ha- 
ranguing solemn-looking dignitaries. Two of 
those wear black, hooded robes that are rather 
awe-inspiring 

But the effect is spoiled by the presence of 
four little boys in the nude, two winged like 
angels, and the other two looking very human. 
One of the winged boys stands on the ledge of 
the pedestal supporting a pillar. He holds a pole 
with a cardinal's hat at the top hovering over 
Saint Jerome's head Eke some parasol. On the 
other side, the second winged fellow holds up a 
processional cross, looking placidly amused, 
while below him a little boy without wings 
plays a stringed instrument with a holier-than- 
thou look. On the other side, his mate peers at a 
glaring lion, rounding it off nicely. In its ultra- 
refined surround of trompe l’oeil Renaissance 
jewels, the image is a superlatively refined fore- 
runner of Surrealist fun. 

M ODERN literature in the Tuscan 
vernacular was an excuse for a 
broader kind of pleasantry. A vol- 
ume of Petrarch’s poems copied in 
1457 provides the Renaissance version of com- 
ic-stnp fun. 

In the “Triumph of Love," a pink-robed 
Phyllis, bovine and squinting, rides on the back 
of Aristotle crawling on all fours, having 
dropped a book. Facing them, Delilah seated in 
the grass cuts off the hair of the sprawling nude 
Samson. Behind, the chariot of love drawn by 
fat horses, is flanked by two standing couples, 
Caesar dallying with Cleopatra on one side, 
and Solomon and Sheba on the other. All or 
this is done with great painterly care emphasiz- 
ing a spoofiness that is not quite in tune with 
Petrarch's poetry. 

At intervals, the miniature painter would 
embark on a masterpiece for its own sake. 
When the poet Antonio Cornazzano had his 
poem “On the Way of Ruling and Reigning” 
calli graphed in a presentation copy dedicated 
to Eleanor of Aragon (1450-1493), an artist, 
perhaps Cosirao Tura. painted a profile portrait 
of the duchess seen head and shoulders, under 
the title. The sad, unsmiling face with the be- 
ginnings of a double chin and an uncomely 
nose, stands out against a solid blue ground. 
She extends a gloved hand to clutch a wand 
held down from the top corner right by the 
divine band. Here, no trace of humor remains. 
Government in the land of Machiavelli might 
be tortuous, but it was in deadlv earnest. 


ART 

Satwdny-Sunday, 
November 5-6, 1994 
Page 7 







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^ .I 

Ptetpooi Morten Uibriry , 

Among the manuscripts at the Royal Academy is this page, done in 1483, for a treatise by Aristotle. - • 


Kudos From Asia for Zao Wou-ki 




(. . -'V'-. : ’ ■ ■ : •' : v/iv. 'V 1 '*> ■ v : ’ . • ■ 


/ ? i 

i t * 


By Michad Gibson 

International Herald Tribute 

P ARIS — A timed official conse- 
cration has come for the Grinese- 
bora Zao Wou-ki. And especially 
from Asia, recognition is craning 
apace fra: the artist, who left China for 
France in 1948 and did not return until 
1972. 

He was one of five recipients of Japan’s 
1994 Praemimn Imperiale for lifetime 
achievement in the arts, presented by Em- 
peror Akftrito and Empress Micbiko and 
sponsored by Fupsankci Communications. 
And begimiing next year, a retrospective of 
70 works, ranging from 1935, when Zao was 
34, to the present, wfll nayd to Beijing, then 
tn Hong Knng and Kaohsiung. Taiwan. Hjs 
recent trip to Japan to iecave the award 


ion, which 


Kyoto and Osaka. 

Zao showed 24 late works in Beijing and 
in Hangzhou (where he attended the School 
of Fine Arts as a youth) in 1983, but the 
forthcoming exhibition is larger and the 
request made by the Chinese Ministry of 


. a new interest in the evolution of a Chinese 
artist abroad. The early works that wiD .be in 
- ,i the show are those Zao took with him in 
3948. The others werc destroyed by fire in 


also led to his father’s death. 

Zao is an interesting paradigm for the 
evolution Of Chinese art, having come to 
France with admiration for French art and 
having gradually elaborated a form of his 
own that appears to return to the essence 
of Chinese art after a long detour. It isun- 
fortunate, in that respect, that his large 
Indiarink washes could not be part of the 
exhibition, but Zao says they are too frag- 
ile to make such a long journey. 

Zao feels Chinese art ceased being cre- 
ative three centuries ago; after that it de- 
generated into the application of stock 
solutions. But that problem was com- 
pounded by the training given aspiring 
Chinese artists by third-rale Soviet paint- 
ers who ran the art schools at one time. 

Zao saw the consequences of this when 
in 1 983 he returned to his first an school in 
Hangzhou for a one month session with 
young painters. Tbe day he walked into 
the class, a model was sitting on a podium 
under a naked bulb and the painters were 
all studiously mixing three stock shades of 
flesh color on their palette. 

When Zao suggested they look at tee 
model first, to determine what other colors 
might appear on her skin, through reflec- 
tion or otherwise, they were surprised — 
but willing to give it a try. 


BOOKS 


“Today,” Zao said, “a good number of 
Chinese artists are traveling to tee United 
States or to France, and the things they 
discover there are leaving teem completely 
confused. They have seen so lit tie art from 
outside China! until now. It takes time to 
acquire a proper understanding of such 
matters.” 

Zao’s work quickly became successful in 
Europe, where he is now- represented by 
such galleries as Jan Krugier in Geneva and 
Thessa Herald in Paris. He began exhibiting 
in tee United States in tee '60s. “When I 
was young,” he recalled, I did des penis 
trues'— little things. I only began painting 
large works in 1964, when my dealer, Sam 
Kootz, encouraged me to do so. Big paint- 
ings, he told me, were in demand there.” 

H IS work is also in demand in 
Japan, and his friend I. M. Pei 
has had him do a number of 
huge paintings for some of his 
braidings in Hong Kong. 

Zao’s work was first influenced by Paul 
Klee, but gradually turned to a form of 
lyrical abstraction, which is his mark today. 
He has applied Western aesthetic principles 
without renouncing his Oriental sensibility. 

He is upset when people see landscapes 
in his work, but concedes teat it is some- 
times justified. His own concern has been 
to render something more impalpable than 
landscape: wind, tee void, or ligbL 


ALBION’S STORY 

By Kate Gremtte. 375 pages. 
$21.95. Harcourt Brace. 

Reviewed by Carolyn See 


jj viHe pubtishtti “Lillian’s 
Stray,** a true tale of a (some- 
what) madwoman who roamed 
the sneets of Sydney, slept in 
parks and in trees, and spouted 
andition for a little money. L3- 
K»n jatd beat abused in her ■ 
youth by a late-Victorian fa- 
te;. sees from to p oint of 
view, he remained as incranpre- 
heosibke as he was odious. Now 
Grenville has write the fio- 
riftimt biography of that mon- 
strous - father. Grenville is 
breve; she has knocked an 
EriPs door, but Evil hasn't been 
.taribly cooperative. 

This story is told in the first 
pcfsonby Albion Gridtey Sing- 
eri He was botn, he tells us, m 
Sycfocy^in 1875, the younger 
brwhef in' a not very happy 
family. His older sister, Krisia- 
bd, is alT tomboy ways —• and 
she grants to get out and play, 
cHmb trtts/gfi to school- But 
she catft AHte. on the otto 


ed. He’s soft and sorrowful and 
possessed of a horrid self -con- 
sciousness that, in a later day, 
might recall Richard Nixon 
greeting the astronauts. He tries 
desperately to become a hail 
fellow well met, but he’s a few 
beats off. He doesn’t get a joke, 
he can’t tell one; he’s ill at ease 

in his own body. He wants to be 

h ome with his mom. He falls in 
love with a professor but can’t 
consummate that relationship. 

Albion hangs out with a low 
schoolyard scoundrel who fills 
Kim with tee sexual horror sto- 
ries of the day. Women can’t get 
enough, they always want it 
There may be teeth concealed 
in that mysterious cavity. That's 


lAdUUUIJ ■ m 

for, but it*s the only game m 
town. He learns his sexual ways 
from vulgar whores. IBs father 
dies, and Albion finds himself a 

man about town, successful but 

fiendishly unhappy. 

What can be do but lay his 

unhappiness on others? He 
marrie s a nice giri, Norah, and 
systematically robs her of all 
sdf-respecL He belittles her ev- 
ery effort, he can’t stand her, 
and he’s gotten their marriage 
Inauspidons start by a 


h&n and an article of 


repeatedly in the novel) and 
that when they say “no” they 
mfBm “yes.” Attracted and re- 
pelled, he patronizes whores, 
deflowers his housemaid and 
countless of his shop girls. He 
apes his father and goes him 
several time s better. 

Then nature plays some 
mean tricks os him. His wife 
gives him a boy and a girl, but 
tee boy is sickly, sorrowful and 
timid, totally incapable of turn- 
ing into the Automatic-Mon- 
ster-Man that Albion has so la- 
borioosly become. His girl, 
Lfitian, on the otto hand, total- 
ly repels him, since she’s 
equipped with female anatomi- 
cal paraphernalia and by tee 
age of 1, using a few well-placed 
baby kkks, is capable of giving 
him an erection. This can’t be 
his fault; of course; it must be 
that Tinian is growing up wan- 
ton and “lewd.” 

Parts of this story sound eeri- 
ly ftmrntiar , especially material 
about every “no” teat comes 
from a woman’s mouth mean- 


NEW AUTHORS 

PUBLISH YOUH WORK 
ALL SUBJECTS CONSIDERED 
Auttx>rsWof1d-«Bfeinvted 
Wi 9 b or send your maustfpt to 
MINERVA PRESS 
gCTPBflOfcffTONRQIPMXJNSWi 3 DQ 


mg “yes.” But can we really 
know what makes a rapist or a 
person who commits incest? As 
tee saying goes, those who 
know aren’t talking and those 
who talk don’t (really) know. 

Carolyn See reviews books 
regularly for The Washington 
Post. 



rj- * 

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Ample evident^, we think, our pages are a rich vein for both you and 


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Source t V7VA Surveys '42/ V3.\ *■ Reader Survey. '94: 













Page 8 


SATURDAY-SUNDAY, NOVEMBER 5-6, 1994 


OPINION 


( 

i. 

i 


Heralb 


INTERNATIONAL 



(tribune 


PUBUNKKD WITH THK MKW VI IRK TIMI-S AND THE WASHINGTON POST 


Two Faces of Indonesia 


Indonesia's rulers see next week's Asia- 
Pacific economic summit meeting as a 
terrific opportunity to improve an inter- 
national image stained by repression in 
East Timor and other serious human 
rights abuses. 

How much more Haltering to display a 
statesman-like President Suharto playing 
host to his counterparts from the United 
States, China, Japan and a dozen other 
countries and touting the opportunities of 
the world's fourth-most-populous nation 
and one of its most vibrant economies. 

- Both images of Indonesia are true. But 
its crude effort to shove all h uman rights 
problems out of camera range only high- 
lights the repressive character of the re- 
gime. The effort, called Operation 
Cleansing, began last spring under the 
guise of a drive against street crim e. Since 
then it has been broadened to target 
“economically and politically motivated 
criminals” like academics, journalists, in- 
dependent labor organizers and h uman 
rights activists, halting in its tracks the 
limited liberalization President Suharto 
proclaimed several years ago. 

Three leading news magazines were 
shut down in June. Muchtar Pakpahan, 


leader of Indonesia’s largest independent 
labor union, is currently being tried on a 
patently political charge. 

George Aditjondro, a leading academ- 
ic, was interrogated two weeks ago on 
criminal charges of “insulting a govern- 
ment body or authority” for remarks he 
made at an academic seminar in August. 

President Bill Clinton has prod aimed 
human rights a theme of his foreign policy, 
and U.S. law mandates a link between 
basic worker rights aod the special trade 
privileges Indonesia currently enjoys. 

Yet the administration has sent mixed 
signals about whether it will raise human 
rights issues during Mr. Clinton's one- 
on-one meeting with Suharto or at wott- 
ing sessions of the Asia-Pacific meeting. 

If Washington fails to do so, it will 
reinforce the impression created by the 
president's retreats on human rights in 
China and Commerce Secretary Ron 
Brown's aggressive promotion of busi- 
ness profits at the expense of other val- 
ues. It will also encourage other countries 
with serious human rights problems to do 
as Indonesia does and simply sweep its 
critics off the streets. 

— THE NEW YORK TIMES. 


CIA: Disastrous Failings 


The CIA’s own investigation of the 
Ames case has been superseded by an 
outsider’s more probing critique auth- 
ored by the Senate intelligence commit- 
tee. The new results are stunning. They 
confirm and substantially add to the old. 

Only now does it become dear what 
were the true dimensions of Aldrich 
Ames’s treachery. His selling of Ameri- 
can secrets allowed the Soviet KGB 
quickly to strangle operations that Amer- 
ican intelligence was conducting at the 
heart of Soviet intelligence, and this at 
the height of the Odd War. A hundred or 
more American and allied operations 
were compromised. Ten or more Soviets 
working for the Americans were execut- 
ed. It was a security breach of unprece- 
dented and disastrous proportions, the 
report suggests, one wiping out the CIA's 
principal Cold War reason for being. 

Again and more humiliatingly, the CIA 
stands revealed as the gang that couldn’t 
counterspy straight. The lapses fall just 
short of letting the fellow who brings in the 
Domino pizzas smuggle out secret docu- 
ments in his carrying case. “Members of 
the dub” — the dub of secret operators — 
were simply excused from security scruti- 
ny despite mss known personal and pro- 
fessorial failing s. 

The Senate report, approved by a 
unanimous committee, is deeply critical 


rreport 

sey, director of central intelligence. He 
issued a slap on the wrist of some, but far 
from all, of those responsible for the 
nine-year delay in nabbing Mr. Ames. In 
a necessary turn, the report goes beyond 
the blaming of a faceless “system” and 
“culture” and, elevating accountability to 
command level, names four former direc- 
tors: William Casey, Robert Gates, Wil- 
liam Webster and Richard Kerr. 

Get serious about security and coun- 
terintelligence, says the Senate intelli- 
gence committee, raise their priority and 
effectiveness. Surely this can be done 
without unduly crimping the privacy and 
dignity that professionals in this Geld, 
as in others, are due. 

Something else needs to be considered, 
too. It is not enough to build a system 
that will protect against a highly struc- 
tured adversary like the old Soviet U nion. 
With the end of the Cold War, there are 
wholly different demands. Fluid circum- 
stances create new intelligence require- 
ments and new counterintelligence re- 
quirements alike. These must be 
considered in a package as American 
intelligence, through its own devices and 
through the work of a congressionally 
authorized presidential commission, 
prepares for the new day. 

— THE WASHINGTON POST. 


Justice Is Served in Florida 


l iFy 

Thun 


sentence on Thursday for Paul Hill the 
Florida abortion opponent who killed 
both a doctor and his unarmed security 
escort at a Pensacola clinic last summer. 
Mr. Hill who had earlier been convicted 
on federal charges in connection with the 
same event, represented himself in court 
and made no argument in his defense. 
The short trial led to an understandably 
fast verdict The jurors took only 20 min- 
utes Wednesday to find him guilty on two 
counts of first-degree murder. 

Mr. Hill is not the first zealot whose 
opposition to abortion has led to vio- 
lence, and, sadly, he may not be the last 
But fast and forceful action on the pan of 
prosecutors in his case should persuade 
others that their personal fervor for the 
cause will not excuse them from the con- 
sequences of their crimes. 

Mr. Hill made no effon to hide his 
terrible intentions. He spent months 
speaking and picketing, trying to defend 
the proposition that doctors who per- 
formed abortions ought to be killed. On 
the day of the murders, he arrived at the 
clinic armed and eager to cany out his 
plan, and he did so in plain view of 
witnesses. He sees himself as a martyr 
determined that even if he is executed. 


“righteousness will prevail” That is fa- 
miliar talk heard from suicide bombers 
and political assassins in trouble spots all 
over the world. They assume their acts will 
inspire admiration and even imitation, but 
they deserve only contempt Their violence 
is not only a crime against society and the 
individuals who are their victims, it is a 
betrayal of those who share their underly- 
ing convictions but abhor and condemn 
the idea that persuasion comes out of 
the barrel of a gun. 

A word about the penalty recommend- 
ed by the jury: It is not the final word. 
Judge Frank Bell who presided at the 
trial will decide whether to send Mr. 
Hill to the electric chair or to prison for 
the rest of his life. In spite of the terrible 
facts of this crime, we hope he does not 
continue the killing by accepting the 
jury’s advice. Abortion rights leaders 
representing the National Organization 
for Women and the Feminist Majority, 
who spoke in Pensacola on Thursday, 
applauded the jury’s verdict but argued 
against its recommended penalty. The 
objective, they said, is not to put one 
more person to death but to continue 
the government's efforts to bring crimi- 
nals to justice. That’s the right course. 

— THE WASHINGTON POST. 


Other Comment 


Hie Threat of Gumption 

In Europe, political corruption stains 


il corrup 

one country after another, snowing that 
even the most solid democracies have a 
dark side. The Italian stain is surely the 
most vast, but in Greece, Spain, France 
and Germany, scandals have multiplied. 
The same goes for Britain. 

In no other country has corruption of 
such amplitude been revealed as m Italy, 
where at the end of 1993, 2^00 people 
were bring investigated, includin g tens of 
ministers and former prime ministers, 200 
members of Parliament and scores of busi- 
nessmen. In no other country has corrup- 
tion involved an entire society, destroyed 


its traditional parties and compromised 
entire governments. In no other cmmtiy 
has there been more of a lack of political 
watchfulness than in Italy. 

Everywhere the problem of the state in 
pluralist societies founded on democracy 
and the market economy needs to be 
resolved. As the state breaks away from 
the economy, privatizing it more and 
more, the financial and economic world 
latches on ever tighter to the state, at- 
tempting to “privatize” it If the role of 
the state is not redefined — if the political 
ethic is not reconstructed — then the 
incestuous relationship between public 
and private will endanger democracy. 

— La Repubblica (Rome). 



International Herald Tribune 

ESTABLISHED IS87 

KATHARINE GRAHAM. ARTHUR OCHS SULZBERGER • 

Cr-ChalrmeH 

RICHARD McCLEAN. PuNixhrr 4 Chief Executive 
JOHN VINOCUR. Etecuthv Eduar £ VkrPmkknr 
■WALTE R WE LLS.Afrwfiiarti- • SAMUEL ABT, KATHERINE KNORRand 
CHARLES MntHELMORRDiv^£^ w *CARLG£WlRTZATOiiffffi^ 

• ROBERT J. DdNAHUE. EtShmfihe EiBmnd Pu%n • JONATHAN GAGE Business and Townee Editor 
•RENE BONDY. DepunPuHaher* JAMES 

•JUANITA LCASPAIU.ii/wnu/li^/inritwnntf/Jwr»ir» ROBERT FARR*-. Cmubtim Dimmr. Eumf* 
UuTrtcvrdc la PuhUnmn: Richard IX Smarms 
f Jwrrtmr Aifintitf iir t» Pufefawfoi.- Kuritannc P. Damn- 


Inknulkmal HauklTnhuric. {HI A%vm;Uuricvdc-GiiuUc.V252l NonlK -w-Scinc. France. 
TcL : l \ ) 4ftJ7.93.no. fax : Cia\. 4ftj7J)hJI; Actv, 4M7.J2.i2, Internet IHT^amkonuc 

bJhar J5ir Aw; Mi hr! 5 Gntcrhun R,L Smpfuir (61 1. Trl 1 ES 1 472-77f& hoc 1(6) 274-2134 

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Time for Straight Thinking on Cuba 


W ASHINGTON — All 
along, the American prob- 
lem in dealing with Cuba has 
been when to convert pressure 
into negotiation — when and for 
what to yield up the embargo; to 
play this card while Fidel Castro 
is still in power, in which case he 
might use the accord to extend 
communism in Cuba, or to wait 
until his departure could be 
made a part of the agreement. 

Successive administrations 
have favored the latter approach. 
Earlier they did so under a banner 
of containing a real global Com- 
munist threat Since the Cold War 
lapsed, they have done so in the 
name of promoting democracy. 

Does not the passing of the 
strategic danger make it silly for 
Washington to talk with, say, 
China and North Korea — also 
Communist states, and demon- 
strably more brutal than Cuba 
— but not with Havana? The 
Clinton administration finds 
the inconsistency supportable 
because democracy in Cuba is 
not only a desirable but a rea- 
sonably plausible goaL 
A sort of inner message is be- 
ing conveyed to countries that 
reject the embargo: as a recent 
UN vote demonstrated, that 
means every country in the world 
except IsraeL You may be too 
left-leaning or too indifferent to 
principle to rescue Cuba, the 
message goes, but we are not. 
American isolation on this issue 
is shouldered stoically as a great 
power’s londy burden. 

There is an arrogance here, an 
echo of the historical American 


By Stephen S. Rosenfekl 


view — imperialism, it is callec 
— that little Cuba is America' 


rialism, it is called 
i's 

to shape in its image. But this 
does not trouble me so much. 
No one need apologize for 
wanting to see democracy pre- 
vail in Cuba and for not want- 
ing to throw a lifeline to Fidel 
Castro or to the part of the Cu- 
ban revolution that equates 
with political repression. 

Stni, I am not among those 
who are ready to compel the 
mass of Cubans to pay any price 
to bring about a political transi- 
tion, least of all a transition that 
may be already on its way. 

“Pay any price"; The embar- 
go-tightening 1992 legislation 
with which Washington greeted 
the breaking of Havana’s strate- 
gic link with Moscow cot off 
most residual American food 
and medical supplies. It adds 
palpable misery to the depriva- 
tion already ensured by the prac- 
tice of socialism. 

As a candidate, Bill Clinton 
whooped this shameful law 
along, and as a president he has 
tightened it further. Has the 
pro min ent family and child ad- 
vocate, HiTlar y Rodham din- 
ton. had occasion to query him 
about the health effects of this 
display of toughness? 

How is the embargo supposed 
to work to bring Cubans democ- 
racy? American strategists say 
the idea is to keep the pressure 
on, bring the people into the 
streets or invite a coup — the 



suggestion is that the action wSi 
be surgical Fidel Castro says the 
Ameri cans intend to promote 
discontent, divide the population 
and cause conflict, even a blood- 
bath. Is he so wrong? 

Officials staring the American 
position unfailingly underline 
their favor for a “peaceful” tran- 
sition. But the policy has a strong 
possibility of producing not a 
negotiated “soft" landing but a 
violent “hard” one. How many 
deaths do we think is & tolerable 
price for Cubans to pay for a 
U.S. strategy whose implications 
for human life, let alone political 
change, are poorly conveyed by 
the bland team “embargo”? 

So is a soft landing posable? If 
it is, it requires negotiation. But 
negotiation runs up against the 
Cuban position that a discussion 
Of int ernal change is Out of 
bounds and the UJS. position 
that Cuban internal change is 
not only legitimate bat an essen- 
tial first step for which the Unit- 
ed States will then reciprocate. 

The Cuban position is proud, 
defiant , fake, unre al istic and un- 
sustainable. Interaal change is 
already proceed i ng. What mis- 
management and the embargo 
have left of the economy has 
been dollarized and opened to 
foreign investment — the sort of 
changes thar, when made in Chi- 
na, send the administration into 

S tone. Russia's new decision to 
toil deliveries, because Cuba 
can no longer produce the sugar 
to swap for than, ruthlessly soft- 
ens the whole Cuban bargaining 
position. There has never been a 
better time for the United States 
to sit down and talk. 

The American position — 
that Cuba must democratize 
first — is dear, high-minded, 
propagandists and frivolous. 
The embargo, which is, of 
course, an act of war, must go 
on the table at the outset 
Not content simply to refuse 
to redprocate Cuban changes, 
the Clinton administration ac- 
tually tightens the squeeze as 
Cuba makes them, curtailing re- 
mittances and charter flights . 
This is a dishonest and unwor- 
thy position. A president seri- 
ous about foreign policy would 
think it through straight. 

The Washington Post. 


The Poles Are Moving 
Closer to the Center 

By William Piaff 

T^RAKOW, Poland - Stalin has meddled to inspire a faction 

JVonce said to the Finns, when 
demanding territorial conces- 
sions for Russia’s security, “I am 
not responsible for geography. If 
the people and leaders of Poland 
able for geography 


in the military command to 
part him and has interfered in ___ 
allocation of television licenses to 

the same purpose. 

P oland ’s constitution still is- a 
were responsible tor geography proviaonalon^and 

they would certainly have moved wants ***&*** * JjPUB 
* - - — * presidential system. He said m g 

recent broadcast to the nation 
that a “presidential regime” is the 

only answer to the country’s 
problems, and he attacks the pi> 
sent government — an alliance erf 

two parties that emerged from the 


Indeed, they have moved. The 
Poland of today is some 150 miles 
(240 kilometers) west of the Po- 
land of 1940. thanks (if that is the 
word) to the frontier changes and 
population transfers that fol- 
lowed World War IL 

Geographically, the country 
today is at the center of the Euro- 
pean continent, but politically it 
r emains at the ed g e, bordering 
insecure Ukraine and Belarus, as 
well as Lithuania. The Polish de- 
sire to put Poland at the center of 
political Europe was recently ex- 
pressed by its foreign minister 
(and possible presidential candi- 
date) Andrzej Olechowslti, who 
said that be wants Poland “effec- 
tively” at the center of the Euro- 
pean Union and intimately in- 
volved in drafting the terms of 
what the Union is to become. 

The plan for Poland’s and the 
other East European countries’ 
entry into (hat Union is finally 
emerging in Brussels. A meeting 
of foreign minis ters of the Euro- 
pean Union’s present and pro- 
spective members agreed Mon- 
day on political and financial aid 
to bring about what eventually is 
supposed to be a “Europe" of 22 
members, instead of 12. 

The Poles, rather to their own 
surprise, and despite high infla- 
tion (35.3 percent in 1993), are 
the strongest of the East Europe- 
an candidates, with an extremely 
rapid growth rate — currently 4.5 
percent — and the greatest suc- 
cess in exporting 10 Western Eu- 
rope. Exports overall were up 23 
percent in the first nine months of 
this year and industrial output 
was up 13 percent. 

The Poles' current difficulties 
are political with persistently 
mischievous maneuvering by 
President Lech Walesa, already 
concerned by re-election a year 
from now, in November 1995. He 


Politics, Like It or Not, Requires Human Involvement 


The foreign minister 
wants Poland 'effectively^ 
at the center of dte 
European Union. 

Communist Party — far having 
slowed economic reform. 

A French university specialist 
in Polish affairs, Georges Mmk, 
says that even though Mr. Walesa 
currently is very unpopular in the 
polls, he “is told by his entourage 
that he is a new Pusudski with a 
mission to save Poland.” (Gener- 
al Jozef POsudski was an impor- 
tant figure in Poland’s indepen- 
dence struggle and virtual 
dictator erf the country from 1926 
to his death in 1935.) 

. What is Lech Walesa to save 
Poland from.? The present govern- 
ment seems competent; the econo- 
my is doing wdL Privatizations 
have been slowed, but slowed re- 
form is a phenomenon of nearly all 
of the ex-Cbmmunist countries. " 

Mr. Walesa’s former ally and 
counselor Bronislaw Geremek re- 
cently told him: “You pose a 
threat to constitutional order and 
democracy in Poland.” The single- 
mindedness and courage that 
served Mr. Walesa so well m oppo- 
sition, in the Solidarity movement, 
are proving a disservice today, in 
an office beyond his real compe- 
tence, and he risks tarnishing the 
record of his achievements during 
the 1980s as Sohdaniy’s leaden 

The government represents an- 
other general phenomenon in the 
ex-Commimist countries, a return 
to power by former Communists. 
There is no great surprise in this 
since ambitious and politically 


A BOARD THE DAPHNE, in the Mediter- 
. ranean — Politicians in practically all 
industrial democracies are in trouble. People 
dislike and disdain than, as though Lbey were a 
special inferior breed with less than the mini- 
mum of virtues possessed by ordinary mortals. 

Yet, there is widespread satisfaction that 
the idea of democratic government is m aking 
such headway in the world. Less than a gener- 
ation ago, eminent commentators were point- 
ing out that only a relative minority of coun- 
tries could claim anything approaching 
democracy. Daniel Patrick Moymhan, now a 
U.S. senator, wrote of it as a “luxury” that 
few could expect to afford. 

Obviously, democracy requires decisions to 
be made through the political process, not by 
force and terror. And the political process 
requires politicians — people who seek leader- 
ship positions by persuading fellow citizens to 
invest confidence in them and who accept 
responsibility for public affairs. If we hate 
politicians, who should be doing this? 

Traveling with a group of Americans and 
Canadians who are curious about .the world 
shows that their attitudes are little different 
from those of Europeans on the issue. They 
don’t like the people they haw put in charge, 
although it is not at all clear whether they don’t 
like the fact of someone taking charge or that 
they want charge taken more decisively. 

It is a palpable reality that Americans 
are angry with President Bill Clinton and with 
Congress. But why? 

Conventional political wisdom holds that 
the state of the economy is the dominant 
factor in elections. “It’s the economy, stupid” 
was the theme of Bill Clinton's campaign in 
1992, and the results seemed to verify the 
insight. Now the economy has greatly im- 
proved, and dissatisfaction has increased at 


By Flora Lewis 


least as much. “It’s not Clinton's doing, no 
credit to him,” people say. 

“He didn't keep his promises,” a retired 
businessman complained I asked him which 
promises he wanted kept. “None of them, 
they’re terrible ideas. And he's no good 
on foreign policy.” 

Granted Somalia ended badly. Haiti 
looked bad but it seems to be working out 
better than anyone expected Bosnia is every- 
body’s disaster. But in terms of U.S. global 
interests, these are marginal problems. 

Where national interests are truly engaged 
—a prudent policy toward Russia, maintain- 
ing good relations with Europe and Japan, 
keeping NATO sturdy despite the dramatic 
change in its situation, promoting trade 
through ground-breaking agreements — 
things are going fairly wefl. 

The businessman agreed but he said that 
wasn't the point. “It’s the perception,” he said 
“It feels bad. Besides, I don't tike Hillary. She's 
not a lady, which a First Lady should be." 

The conversation was typical of many, in 
many places. It boiled down to a conviction, 
not a reason. “Politics is a dirty business.” 

In the free market, the role of money is the 
acknowledged trace of the “invisible hand” 
which measures the sum of individual prefer- 
ences and ingenuity. But the role of money in 
politics is resented everywhere, and that is 
rational because there is an essential contra- 
diction between the democratic principles of 
equality — one man, one vote — and the 
market principle of acquisition. 

Laws differ from country to country about 
transparency and supervision of how politics 
are financed what use of money to obtain 


influence is considered a normal attempt to 
promote self-interest and what is considered 
corrupt- But the complexity of representative 
government in modern societies produces 
bills that somebody has to pay. Adequately 
honorable systems for dealing with the need 
have yet to be devised 

Nowhere else have the amounts reached 
the astronomical totals spent in the United 
States. This is partly due to size, but even 
more to the cost of communications. Most 
democratic countries don’t allow paid politi- 
cal advertising on television. Free time is 
apportioned and it is always to be used in 
minimum blocks of at least several minutes. 

The 15- to 30-second spot, which cannot 
permit more than sloganeering and is highly 
conducive to invidious “negative” ads, is per- 
niciously unique to America. It should be 
banned No doubt it adds to Americans' re- 
vulsion for politicians. 

But the trend is general often accompanied 
by a sharp decline in voter participation, 
particularly among young voters. This is wor- 
risome for the democratic system. 

There needs to be some reconsideration of 
wbat is expected from politicians, just how 
much better they are supposed to behave 
than others in our permissive societies, how 
much we wish and encourage them to flatter 
us and lie to us. 

If we want truth and courage from them, 
we must respond to it. There can’t be politics 
untouched by human hands. It is the beauty 
of democracy that politicians are likely to do 
what their electorates want wise or foolish. 

In our current mood we should admire the 
bravery of those who are willing to expose 
themselves to such automatic opprobrium for 
the pleasure of taking responsibility. 

© Flora Lems. 


The Christian Right: A Scary Brand of Conservativism 


B OSTON — If you liked the 
1992 Republican National 
Convention, with its bashing of 
the un-Christian and the un- 
straight, you’ll love the 1996 con- 
vention. Assuming, that is, that 
the party wins as big as it expects 
in the elections Tuesday. 

Last time we had Fat Robert- 
son and Pat Buchanan. We had 
the Republican chairman. Rich 
Bond warning that if Bill Clinton 
was elected Jane Fonda would be 
sleeping in the White House “as 
guest of honor at a state dinner 
for Fidd Castro.” 

Next time the powerful new 
committee chairmen in a Republi- 
can-controlled Senate win surely 
be featured Among them will be 
Jesse Helms, chairman of the For- 
eign Relations Committee, and Al- 
fonse D’Amato, chairman of 
Banking, Housing and Urban Af- 
fairs. Toe Speaker of the House, 
Newt Gingrich, will be on the plat- 
form, expanding on his theme that 
Democrats are “the enemy of nor- 
mal Americans.” But the star will 
be the charismatic new senator 
from Virginia, Oliver North. 

Pat Robertson will be back, too. 
His Christian Coalition will have 
been the single most significant 
factor in the choice erf Republican 
candidates in 1994 and in the elec- 
tion of many. As a notable exam- 
ple, it made Mr. North the Repub- 
lican nominee over the objection 
of many party regulars. 
Envisioning the 1996 conven- 


By Anthony Lewis 


tion after victory in 1994 makes 
one understand what has hap- 
pened to the Republican Party. 
Across the country, in state after 
state, it has moved sharply to the 
right: to a conservatism of a kind 
distinct from the mainstream po- 
litical right in Britain, France or 
any other developed country. 

It is not Ronald Reagan's con- 
servatism, whose central theme 
was lower taxes and the free mar- 
ket. Mr. Reagan talked about the 
so-called social issues — abor- 
tion, prayer, the family — but in 
office did little about them. 

For the new forces in the party, 
they ARE the issues. No one 
knows exactly what legislation 
they would pass. But the land of 
society they want is quite dear: a 
more Christian and more pious 
America, with women's right to 
choose eliminated and their 
struggle for economic and politi- 
cal equably turned back. 

Many who have nothing to do 
with the Christian right are dis- 
tressed by aspects of American so- 
j _jday: the romanticizing of 
bnce and vulgarity, the rise of 
illegiti macy , the decay of responsi- 
bility. Those are fundamental 
challenges to a decent society. 

Because those problems exist, 
and the Christian right focuses on 
them, I think a lot of people have 
paid too little attention to the real 
nature of its political gospel. 


Pat Robertson himself comes on 
these days as an unfrightening fig- 
ure, but that is only because his 
real views are not generally 
known. Michael Lind of Harper's 
Magazine, writing last month in 
The Washington Post, has brought 
them to wider attention. 

In his 1991 book “The New 
World Order,” Mr. Robertson said 
a secret cabal of international 
bankers, Freemasons and occult- 
ists had brought about the French 
Revolution, the Russian Revolu- 
tion and the Federal Reserve. Jew- 
ish bankers were especially active. 

Mr. Robertson asserted that 
Jewish bankers cm Wall Street, try- 
ing to create a “new world order ” 
supported the Bolshevik govern- 
ment after the revolution. Noting a 
that Jews had been admit- 
I to the Masonic order in Frank- 
furt for the first time, it said that, if 
so, “we have discovered the link 
between the occult and the world 
erf high finance.” 

A Robertson spokesman wrote 
to The Post saying that be sup- 
ports Israel, which is true, and 
that the quotations were taken 
“out of context.'' 

Wdl here is another one found 
by Mr. Lind; “It is my belief that 
John Wilkes Booth, the man who 
nssa-«innt«t Lincoln, was in the 
employ erf the European bankers." 

That a person who would put 
those views in a book is a major 


force in the Republican Party to- 
day is not a trivial matter. 

The Christian Coalition this 
weekend is distributing 33 million 
election guides to voters. The 
character of a great American 
party is changing, to the anguish 
of some who nave been among its 
leaders. Attention must be paid. 

The New York Times. 


_ tv pai »j HI m 

the past' to have power, and the * 
same people still want power. 
Few if any of them would dream 
today of reinstating communism. 

The dissidents of the Commu- 
nist period, who took power after 
the Soviet collapse, have been 
forced to- yield in part because 
they lacked the ruthlessness of the 
political professionals. They 
might be said to have proven too 
good for politics, which is a judg- 
ment bri politics, not them. They 
also made some serious mistakes, 
including President Walesa's de- 
cision last year to call an early 
parliamentary election, which 
elected his opponents. 

The prune minister named after 
that election, Waldemar Pawlak, 
head of the Polish Peasant Party, 
has proven as stubborn as Mr. 
Walesa and more skin fa I in office. 

He is young, 35, a person with 
whom ordinary people seem to 
identify. He has been called the 
revenge of the Poland of farms and 
villages against the city intellectu- 
als. He has outmaneuvered the 
other ex-Coniniunist leader, Alex- 
ander Kwasniewski who was sup- 
posed to have become the strong 
man of the new government 
Mr. Pawlak has been naming 
his own friends and clients to 
government posts across the 
coun try and has blocked an at- 
tempt to decentralize power. He 
acts as if he intends to stay in 
control for a long time. His major 
rivals include his young foreign 
m i n ister, Mr, Olechowslti — a g 
Walesa appointment m 

But a year remains in which all 
of this may sort itself out The 
most striking thing about Poland 
today is the physical change, evi- 
dent here in Krakow since the 
mid-1980s, when it was a grim 
and polluted city, and in Warsaw, 
never — since the war — a hand- 
some city, but now dynamic and 
well-kept Poland in this respect 
has “returned" to Europe. Spiri- 
tually, of course, it had never left 
International Herald Tribune. 

© Las Angeles Tones Syndicate 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 
1894: The Dreyfus Case 


PARIS — Whatever may be the 
ultimate issue of the charge 
against Captain Dreyfus for sell- 
ing copies of important docu- 
ments to an officer in the Italian 
army, at present nothing seems to 
be absolutely established. Such 
good judges as M. Edmond Mag- 
nier, the editor of the Evenement 
think that the public should with- 
hold their verdict against the incul- 
pated officer until the allegations 
are proved. At present M. Magnier 
thinks the evidence in support of 
the charge is veiy slight. 

1919: Express Crashes 

PARIS — A terrible accident 
happened at ten o’clock on Mon- 
day night [Nov. 3] to the Simplon- 
Orient express which was run into 
and wrecked by the Geneva ex- 
press, over twenty passengers be- 
ing killed and 100 injured. The 



Orient express found the block 
” aga in st it and stopped at 
"not, a village near Sens, 
the express stood there 
with ns whistle sounding for the 
signals to be opened, the Geneva 
train, which had left Paris ten 
minutes later, dashed into it at 
nearly sixty miles an hour. 

1944: Russian Advance 

— [From our New 
York edition:] Russian tanks yes- 
terday [Nov. 4] crashed into Sor- 
oksar, only a mile outside Buda- 
pest, and then were hurled back 
m an armored battle, the Buda- 
pest radio announced late last 
mght m a broadcast describing 
tne Axis situation as critical. Fifty 
miles southeast of Budapest other 
Soviet troops toppled the Tlssa 
River stronghold of Szolnok in a 
™ehng movement that sent Red 
Army units charging across the 
Budapest -Szolnok trunk railway. 



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International Herald Tribune, Saturday’- Sunday, November 5-6, 1994 



Page 9 


€B€L 

the grchilecfs of time 


t 5 


£ 


THE TR ,B INDEX: 1 15.92H 

»SS tea**--- 

by Sloombe^ compiled 



McDonnell 
To Sell 
40 Jets 
To China 


150 


Asia, 'Pacific 


Approx, waghfing: 32% 
Owe 129.79 Pjwj 729.14. 


Europe 


Approx, weighting: 37% 
Close: 11750 Plw_- 11729 



•JJASON JJASON 



1984 


1994 



Latin America 


- • • Approx. waghling: 2fi% 
CtDBO. 96.64 Prw_- 8658 

150 — 


Approx, weighting: 5% 

CtoKC 13494 Pnw_-13SL95 

m 



77» Index t recks U.S. doBer values at stocks Ik Tokyo, Mm York, London, and 
AigsoMna , Auat rifla. Auwrta, Brtghim. Brarft, Canada. Ohio. Danmark, Rntand, 
nmM, Garmany, Hong Kong, IMy, Mwdco, JMtertanda, New Zealand, Norway, 
StegapofW, Spain, Cw dan, SwHxartand and VOmnuahL For Tokyo, New York and 
London, the Index ia composed of dm 30 top ieeuee In terms at rtwrket ceutaBntlon. 
aOiemise the ten top stocks am Backed. 


Industrial Sectors 


AL 


Pn«. 


Swgy U6J37 116.76 -0.33 Capital Goods 116J4 117.10 -031 


127.33 126.48 41.15 Raw Materials 135.10 13436 +055 


France 11630 ItSJI *0.42 Consumer Goods 10435 10452 -0.76 


Ssnrfcw 119.09 110.49 +051 MteeBweous 12436 12484 -038 


For mom information about the Index, a booklet is avaBabto free ol charge. 

Write to Tip Index. 181 Avenue Charles de Qau Be, 92521 NeuSy Codex, France. 


Omcanatianai Hamid Tribunal 


WASHINGTON — Mc- 
DoaaeU Douglas Crap, and 
China signed an agreement Fri- 
day valued at about S1.6 billion 
for the sale of 40 jetliners to 
Chinese airlines. 

Under the accord that had 
been in negotiation for three 
years, half the jets will be rnacu- 

U.S. Standing up to China on 
GATT application. Page 13. 

factured at McDonnetTs Doug- 
las Aircraft Co. subsidiary m 
Long Beach, California, and half 
in China with American parts. 

The contract provides the 
world's No. 3 commercial-air- 
craft builder with sorely needed 
new orders. It also mails a vic- 
tory for McDonnell’s new chief 
executive, Harry C. Stooedpher, 
who said when be was hired a 
month ago that one of his priori- 
ties would be to rqirvenate 
Douglas Aircraft's business. 

The planes wiD be MD-SQs 
and MD-90s, medium-sized, 
twin-engine jetliners that sell for 
about $30 million apiece. The 
contract is a continuation of a 
program in which 35 MD-80s 
have been assembled in China 
under a era tract signed in 1985. 

Commerce Secretary Ronald 
H. Brown, who presided over the 
si g nin g, had held talks in Chm^ 
to help secure the deal Deputy 
Prime Minister Li Lanqing of 
China also was present. 

He was with a high-level Chi- 
nese delegation attending a bi- 
lateral trade conference, the first 
in the United States involving 
the two countries since Washing- 
ton renewed C hina’ s preferential 
trading status in May. 

Mr. Brown said the jet orders 
would support more than 4,600 
aerospace jobs. Democrats 
hope the announcement will 
bolster their chances in Califor- 
nia in elections on Tuesday. 

(Reuters. LAT. AFP) 


U.S. Looks Post Japan 

Faster-Growing Markets Now Beckon 


By Andrew Pollack 

New York Tima Service 

TOKYO —When Edgar S. 
Woolard Jr., chief executive 
of Du Pont Co., delivered a 
speech by satellite to the com- 
pany’s Asian offices recently, 
not once did he mention Ja- 
pan, which accounts for half 
of the chemical giant’s Asian 
sales. 

Mr. Woolard instead 
gushed on about new oppor- 
tunities in China and else- 
where in the Far East, to the 
annoyance of company em- 
ployees in Japan. 

Increasingly, U.S. compa- 
nies seem to be less mindful 
of Japan, lured instead by the 
faster-growing, less devel- 
oped markets of China and 
elsewhere in Asia. Japan is 
perceived as an already ma- 
ture market in which it is ex- 
pensive to operate, with- 
strong domestic competitors 
and numerous regulations 
and other barriers. 

“Certainly a lot of Ameri- 
can businessmen come 
through here and tell me that 
in terms of opportunity costs, 
they are increasingly of the 
view that they’d better spend 
more time elsewhere in the 
Asian market,” Walter Mon- 
dale, the U.S. ambassador to 
Japan, said recently. 

Austin Co., a construction 
concern based in Cleveland, 






recently closed its office here 
after more than 20 years, say- 
ing it perceived fewer oppor- 
tunities in Japan. 

Only half a year earlier, the 
United States and Japan had 
signed a trade agreement 
aimed at opening Japanese 
public works projects to for- 
eign construction companies. 

Such loss of interest in Jap- 
anese markets is already forc- 
ing the U.S. government to 



■ " 

am 


NYT 


shift its trade focus to other 
areas of Aria and to Latin 
America, and some say the 
lack of interest is threatening 
to undermine Washington’s 
will to press for new trade 
agreements with Japan. 

Jeffrey E. Garten, the U.S. 
undersecretary of commerce 
for international trade, said 
the government’s trade agen- 

See JAPAN, Page 13 


Nissan to Miss 
Its Break-Even 
Goal for Year 


TOKYO — Nissan Motor 
Co. said Friday its loss had dou- 
bled to S7.9 billion yen (S592 
million) in the Erst half, and it 
now expected a loss of about 
that much for the full year. 

The loss for the six months to 
SepL 30 was about what Nissan 
had predicted it would incur, it 
blamed poor sales in Japan and 
falling exports linked to the 
strong yen. The new forecast for 
the year, of a loss of 60 billion 
yen, was a surprise, however. 

Nissan, Japan’s No. 2 auto- 
maker, previously forecast it 
would break even at the current 
level for the financial year end- 
ing March 31. Current profit or 
loss is before taxes and extraor- 
dinary items. 

“Our first-half results were 
unfortunate,'’ said Heaichi Ha- 
maoka, executive managing di- 
rector. Analysts said one reason 
was that Japanese are spurning 
Nissan’s style of cars, which they 
-find conservative, even bland. 

Nissan said its current loss 
for the six months had widened 
from 28.93 billion yen a year 
earlier. Nissan said it had pre- 
vented an even larger first-naif 
loss by selling 32.8 billion yen 


worth of stocks and bonds.,.* 

Sales in the period fell 12- . 
percent, to 1.57 trillion yen. Op:,* 
crating loss was 82.6 billion-, 
yen, compared with 38.6 billion 
yen a year ago. 

Nissan said the increase wa$« 
partly due to losses on export* 
earnings caused by the strongs 
yen. The company lost 40 billion' 
yen in export revenue in the first: 
half, executives said. - * ; 

The company's net loss wid^ 
ened to 53.7 billion yen. * 

“Obviously, things are worse 
than expected," said Matthew, 
Ruddick, automobile industry - 
analyst at James Capel Pacific ' 
Ltd “I suspect it’s partly be- 
cause of the yen, which has been 
stronger than expected and they 
have Tost a lot of market share.” 

For the full year to March, 
Nissan projected sales would fall 
5.1 percent, to 3.4 trillion yea. , . 

The company also expects an , 
operating loss of 70 billion yen 
for the full year. That estimate 
takes into account a projected , 
operating profit of 10 billion yen 
in the second half. 

Nissan used an exchange rate 
of 100 yen to the dollar to ealeu- - 
late its first-half earnings and, 
its full-year projections. 


Computer Allies Gearing Up to Attack Microsoft 


By John Markoff 

New York Tuna Service 

SAN FRANCISCO — Ful- 
filling an implicit 3-year-old 
promise, Apple Computer, Mo- 
torola and IBM will announce 
Monday a common personal- 
computer standard centered on 
the rower PC microprocessor 
chip, along with a number of 
allies including Canon and To- 
shiba, according to people fa- 
miliar with the announcement 
Once archenemies. Apple 






Panama Reaches Out to Investors 


By ; Calvin Sims . 

... . New York Tima Service 

PANAMA CITY — Seeking to stimu- 
late the economy and reduce' poverty, 
Panama’s new government has intro- 
duced an ambitious plan to sell stakes in 
state-run industries, reduce import tar- 
iffs, and revise labor laws that inhibit 
foreign investment 

. President Ernesto Perez Balladares, a 
wealthy businessman who took office in 
September, has said that modernizing 
the economy and alleviating poverty are 
his. top priorities for Panama, where 
more than h alf the nation's 2~5 million 
people Jive in poverty, and unemploy- 
ment is' officially about 14 percent. 

*T!troiigh the sale of slate-run compa- 
nies, we hope to generate a substantial 
amount of funds that will allow us to 
invest in the social side of the issue, 
which is really the main concern of our 
government,” Mr. Pfcrez Madares said 
in an interview. 

The plan is intended to increase pro- 
doctivityand exports and to attract new 
foreign investment and loans. 

P anama’ s economy grew by 5.9 per- 
cent in 1993, fueled by construction mid 
the expansion of free-trade zones. But 
avermnent economists have warned 


down if leaders fail to act on such barri- 
ers as labor costs and import tanns. 

In Panama, the minimum wage is 94 
cents an hour and benefits are at least 30 
percent of the salary, compared with 4» 
cents in Honduras, including benefits. 

Panamanian import tariffs are among 


the - highest in Latin America, ranging 
from 3 percent to 50 percent, compared 
with 5 percent to 20 percent for Mexico. 

Mr. P6rez BaQadares declined to say 
how much money Panama hoped to gen- 
erate from the sale of stale-owned com- 
panies — m part or outright — or to give 
a timeframe for completing his proposed 
reforms. 

Andres Achang, an economist at the 
University of Panama said: “While there 


Revenue from the sale 
of slate-owned companies 
would be invested in 
social programs and to 
rebuild basic services. 

is nothing special about these economic 
policies — because they have been iniro- 
duced in many places before — I expect 
that in theory they will attract more 
foreign investment and begin to improve 
living conditions for the average Pana- 
manian.*' Other economists and analysts 
expressed similar opinions. 

.Omar A. Alvarado, a vice president of 
corporate finance fra Citibank here, 
praised the proposed reforms but noted 
that Mr. P6rez BaBadares’s predecessor, 
Gufitermo Ecdara, introduced similar 
rprafairf^ which failed to pass the Na- 
tional Assembly. 


Things are expected to be different 
tins time around, however. Mr. Pferez 
Bafladares’s Revolutionary Democratic 
Party needs only scam support to push 
the reforms through the legislature be- 
cause it controls a majority of seats and 
because the president has done much to 
convince opposition parties that the eco- 
nomic changes are necessary. 

Still, analysts said that the government 
most package the reforms to appeal to 
Panamanians, many of whom associate 
privatization with foreign appropriation 
of their country’s wealth and extensive 
layoffs, things they have seen happen in 
other Latin American countries. 

The government does not plan to sell 
off all its most valued assets to private 
investors, as usually occurs with privati- 
zation. Instead, the government said that 
under a p rog ram it calls corporatization, 
public services like telephones, electric- 
ity, and water will be partly or complete- 
ly privatized to improve efficiency. 

Mr. Pdrez Balladares said revenues 
from the sale of state-owned companies 
would be invested in social programs to 
improve health-care and education and 
in programs to rebuild baste services. 

Perhaps the greatest challenge Mr. P6- 
rez Balladares faces in overhauling Pana- 
ma’s economy is competition for foreign 
investment from other countries, espe- 
cially in Latin America. He cited Pana- 
ma’s location, the canal, its bilingual 
labor force, and its dollar-den omin ated 
economy as major selling points. 


Computer Inc. and Internation- 
al Business Machines Corp. 
threw their lots together in 1991 
in a bold effort to derail the 
power of Microsoft Corp.. 
whose growing influence bas re- 
lentlessly turned personal com- 
puter hardware makers into 
low-cosi, low-maigin commod- 
ity producers. 

Despite weeks of rumors that 
a range of companies would in- 
vest in Apple and even a report 
of a billion-dollar development 
deal with IBM, the announce- 
ment win focus only on a com- 
mon hardware standard to 
forge a counterweight to Intel 
Corp.’s standard, with which 


Microsoft, the pree min ent soft- 
ware producer, is allied. 

The hope is that a single stan- 
dard will permit IBM and Ap- 
ple to romance software devel- 
opers and corporate customers 
and convince them that it is safe 
logo beyond the Intel hardware 
standard 

Apple is now transforming 
its computer line from ma- 
chines based on older chips 
from Motorola Corp. to the 
new Power PC chips. IBM has 
said it will continue to make 
both Intel- and Power PC- 
based computers in the future. 
Spokesmen for both IBM and 
Apple refused comment 


What the alliance must still 
prove is that it is not too late for 
its original vision: a powerful 
personal computer that would 
be both faster and less expen- 
sive than the Intel-based ma- 
chines that have captured more 
than 85 percent of the world's 
desktops. 

The new design will run a 
variety of operating systems — 
the basic software that is neces- 
sary for running applications — 
including Mac OS, OS/2, 
Netware. AIX, Windows NT 
and Solaris. But unless it uses a 
special IBM microprocessor 
known as the Power PC 615, the 


new computer standard will 1 
still require a special hardware 
accelerator to run Windows 95 
at full speed. 

People familiar with the 
agreement said that it was still 
posable that last-minute legal; 
details might delay the an- 
nouncement 

Under the planned agree- 
ment IBM, Motorola and Ap- 
ple would all contribute t ec!r-> 
nology toward the new 
standard, but Apple engineers- 
would do the final design work. 

Both Canon inc. and Toshiba 
Corp. have said they planned to 
build computers based on the 
Power PC chip. 


CURRENCY & INTEREST RATES 



NOV. 4 

.. . t a*. ff. un. D* ** ^ ™ 

UMtenfaaT UK -Wt *•** ujs* - — J 4H2S UOi 2*»* 

£5 JSJ. JK U»- 1WS US- U* U"* 

IBM 14SX — qjm im UTQ m BL50 

M S -JS. - a 3 3. a a 

MKM. • *5? .HJJ iiB S3 ita JU1 — 701 

Tokyo N3S BUI . MX mu 14317* USB UP12* — - tff 

.. tm tw U* g! 22. ES Tm- — UB*W» 

a*** - un 2*sn um bj» wso 

TECH - '£! SJ-3S ££ 4&an u® w« WM 

isw . urn inn w 

- a — wA; - 


Eurocurrency Deposits 


Nov. 4 


DoHar 


Swiss French 

D-Mark Franc Stating Franc 


Yen ECU 

1 month AW iW* 5-»«5fw SUrflh 2V2** SW-S"- 

3 months 5Kr5*» 3*tr4Vi. 64M» SWfc 

Smooths SV**Vm 5 W 4 W<4 V. 4**4* 2%-Mi 6*4* 

lyOT 6 *r6 Va 5 l V» 4*«r4*. 7W-W6 d V, 2 r \-2V m d 

Sources: Reuters. Lkmdtt Bo*. 

Bolmtntiaxde to iihi&W a wm ara trMbn minimum (or««uWv*l 


0 ^' 


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Corrmcr 

HZMOondS 
Norw.tarOM 
PUB. pan 
Po«*k«*y 

Pwtmora 

Ross. roW* 
Sown rival 
SUM.* 


Perl 

102 

14228 

440 

245d 

23128. 

1SSJS 

38B&00 

17505 

1X7 


Currency 

S. Air. rand 

S,Kor.mn 

SwKLiow» 

Tohni 

That DoM 

TnrkhhOra 

UAEdUham 

vcncxbofly. 


psrs 

15155 

75VL7B 

7.3605 

2684 

3423 

mu. 

3472 

16057 


Key Monoy Ratos 

Unffefl States 
Muosatrate 
Prime rode ■ 

FadBRH tacts 
imontaciH 
Comm, paper 116 days 
3 Uiunnj Trsasary bHJ 
j-y*ar Treasury Wl 
j^ear Treasury now 
Treasury note 
T^carTrfBHrf note 
M-yeerTmawrynoie 
anwarTreasarybond 


Close Prev. 
450 4 jOO 

m m 

4 Vi 4% 
4J2 488 

SJS SJS 
5.16 409 

528 421 

7 JB 69 1 

m 1M 

724 757 

SJS 755 
fi-M 8.10 


Mlnla 


MermLvndi3Ntar read y nmt 440 4 » 


Badcmrote 

SK 

5* 

Cammoor 

5 

5% 

VMtibMHta 

.!« 

5% 

ihMMitb Utftnk 

tv* 

6H 


m 

641 

lAyeorfiOt 

857 

472 

Fran 



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tin 

5J» 

Call money 

iw 

5*W 

Unanffitotertu* 

sw 

5w 

>moaia auauuuK 

SW 

sv> 

fraontli Interbank 

5% 

5% 

16-year OAT 

629 

448 




May 

1J5W T4599 13599 
77M YTSO WJB 


MMnttlnWtMnk 

16-ycor Cawnsmea* oond 


US 

• u» • urn 

■ ■ ..w. ■ *3F9 1^486 * **** fiirnitutti * ftc r*— - emmertdtde Itofkxna 

•. Mrw 'MB M Bank of Chnotfc 
***** IWM efM tPerUU ****!£? 
tTotm^J; tMPtSMi.Oftmr data tmmNedM*^ 


Lombard rate 
conawNiMV 

tSewVw* 1 


IW 

Z19 Z22 

234 !«• 

2 v. 2r» 

2M 2 "• 
571 457 

6jW dJ» 
4J5 400 

5JOO 400 
420 5X1 

53J 430 

756 756 


Sources: Heaters. OioomOaro . Merrill 
Lynch, Bank of Tokyo, Commenoonk, 

Gn enw e ri Montaou. CnUtt Lyanmit. 

Qofd 

AM. 

Zorich 38250 

London 383.90 

New York 384J0 

ULS. donors per ounce. London uMcleJ fix- 
boon Zurich and New York opeokto ondetos- 

Ino prices; New York Corner ( December J 
Source: flevters. 


PM 

Ch*w 

3HOO 

—0.10 

38288 

Unch. 

38U8 

+030 


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Fage 10 

i MARKET DIARY 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, NOVEMBER 5-6, 1994 


Interest-Rate Jitters 
Send Stocks Lower 


Via Atioeteftd Press 


Dow Jones Averages 


emptied by Qw Staff From Dupodiet 
NEW YORK — The stock 
market fdl Friday as concern 
about rising interest rates re- 
placed optimism about corpo- 
rate profits. 

The Dow Jones industrial av- 
erage closed down 38.3d points 
at 3,807 .52, having been pulled 
down more than 20 points in 

UA Stocks " 

the last hour. Losing issues out- 
numbered advancing ones by a 
15-to-7 ratio on the New York 
Stock Exchange. 

The price of the benchmark 
30-year Treasury bond dropped 
19/32 point, to 92 21/32, taking 
the yield up to 8.16 percent 
from 8.10 percent — the highest 
level since August 1991. 

The catalyst for the bond 
drop came from the Labor De- 
partment's report that U.S. un- 
employment had edged down to 
5.8 percent in October from 5.9 
percent in September. Hourly 
wages posted the biggest in- 
crease in 11 years. 

Bond investors saw signs in 
the report that inflation could 
accelerate and dumped their 
holdings. The resulting higher 
interest rates pulled down the 
stock market because higher 


rates can cut into corporate 
profit. 

"All year long, there has been 
this monumental tug of war be- 
tween excellent earnings re- 
ports and the fear that interest 
rates are going higher," said Bill 
Spears, chairman of Spears 
Benzak Salomon A Farrell. 

Teldfonos de Mexico's Amer- 
ican depositary receipts were 
the most actively traded Big 
Board issue, firing IM to 56 
after a buy recommendation 
from Kidder, Peabody. 

General Motors rose 14 to 
39% after reporting strong car 
and truck sales for October. 

Biogen fell 2% to 38 in active 
over-the-counter trading after a 
series of shareholder lawsuits 
alleging securities law viola- 
tions concerning its decision to 
drop tests on a new drug. 

Another drug company, 
Chiron, dropped 3% to 59 after 
posting lower full-year earnings 
than analysts expected and re- 
porting disappointing demand 
for its multiple sclerosis drug, 

Be laser on. 

Megatest fell 3% to 9 3 4 after 
the manufacturer of electrical ; 
equipment said it might report 
a loss for its financial first quar- , 
ter. (AP, Bloomberg) I 


"■ * % >AVVi •! t V ■■■ ■■ fV ■■ 

qgt. ,v*- : :-v* 


Open HIM 


Low Close Ctfst 
&?52 1*07-52— 3656 I 
970*1X9708— 20J3 , 


urn u0j 40 laobM i7am mis — ijw 

camp l^MJ7 1J97JBW77^W77J?-l«0 

Stm dinl APoor*» Imtoes 




Industrial* 
I Tronsn. 

; Utilities 

s*r 

SP10Q 


HIM Uwr Clow are* 

15235 149 JO 149X7 — 139 

42.47 4jjE4 4224 n m 

M93B 469*1 4495 11 —aw 
43SJQ OUt *S3t -S» 


i NYSE ImftBXitt 


=Y; '/*} 


Bass 




NYSE Most Actives 


TelAAex 

GnMrtr 

WalMtrf 

Oomeoa* 

TotfSOJ 

IBM 

LktliM 

FordMS 

intfGame 

Cfetioy 

DuPont 

ShowNT 

AmExp 

uwters 

RJRNbPfC 


MM Lav 
MM SB 
3m 39M 

w* nv, 

3m 38H 
43 43% 

73 Vk 71 Vk 
am 20* 
2m 79 
SSto Iffl 
48?% »l* 
SW 55 
1M 1? 

31 'A 30V, 
<9Vk 48Vk 
6V, m 


MM Law La*» CM. 

Composite 2S7J3 35423 15433 —3X1 

Industrials 32479 32050 32090 —307 

Tramp. 23449 231X4 231X4 -253 

UtntV 203X1 20078 20O7B —2.19 

Ftaonra 201.93 201X3 —1X7 


I NASDAQ Indexes 


MM Low Lost Oia. 

Gornportte 77X20 758X2 755X1 —3X1 

InduA-MS 785X5 78X34 78234 —2.16 

BcnKS 727 JB 72429 72438 —1X4 

Insurance 92140 917.32 919X7 +2.16, 

Finance 902x0 WOM 90074 -1X1 

Troup. 597410 59075 59075 — 3LS8 i 


AMEX Stock Index 

MM Law Law an. 
455.17 45X72 45271 —1X6 

Daw Jones Bond Averages 


NASDAQ Most Actives 


Cocas 

Novell 

BJbaan 

MO 

MiCSftS 

MeaamW 


Dollar Slips as the Fed 
Stays on the Sidelines 


VOL MM 
42497 321* 
38957 1814 
32328 40’tt 
7m 1 23V, 
79299 63* 
274*0 lOVi 
2S342 13* 
2383S 62V% 
19778 60 ’A 
19265 2146 
18884 15 
17645 Zita 
17407 40Vi 
non 41 h 
15608 15U 


Law an. 
3H6 — ta 

lBVk “Tu 
38 — 3%, 

22 % — % ' 
6191 — lta 

9ta — 3ta 
I3WW + Vu 
«m —ita 
59 — 3ta 

20 —1% 

14ta —ta 
aata — ta 
3 BWm — 

«b% —ita 
ISta -lta 


AMEX Most Actives 


20 Bondi 
ID Utilities 
10 Industrials 


I NYSE Diary 


Advanced 

Dedkied 

Unchonoed 
Total issues 
New HW» 
New LOWS 


AMEX Diary 


Advanced 

Declined 
Unchanged 
Total issues 
NewHtahs 
New lows 


Clasa dne 

9454 —8.19! 

E-S + Hl 

9939 —0X0 


701 1089 

1500 1050 

594 766 

3395 2905 

19 29 

152 116 


251 267 

318 286 

256 244 

625 777 

11 12 

39 39 


Compiled by Our Staff Firm Dispatches 

NEW YORK — The dollar 
moved lower Friday, as a mod- 
erate U.S. report on employ- 
ment was offset by the absence 
of Federal Reserve Board inter- 
vention to support the dollar 
and weakness in U.S. Treasur- 
ies. 

The dollar rose to a three- 
week high of 1.5266 Deutsche 

Foreign Exchange 

marks after the Labor Depart- 
ment said the U.S. economy 
had added 194,000 jobs in Oc- 
tober. 

The number was smaller than 
had been expected, easing con- 
cern about inflation. But the 
dollar gave up those gains after 
the Fed failed to extend its dol- 
lar rescue for a third day. 

“Everyone was expecting the 
Fed to come in,” said Vicki 
Schmelzer Alicea, vice presi- 
dent for currency sales at Wesi- 
deutsche Landesbank Girozen- 
trale in New York. 

Markets remained edgy after 
Thursdays tense session. De- 
spite the genera] sense that the 


Fed does not intervene unless 
markets are disorderly. Jim 
Phoenix, a corporate trader 
with Canadian Imperial Bank 
of Commerce in New York, 
noted that the dollar was trad- 
ing Friday below the levels at 
which the Fed intervened 
Thursday. 

The dollar was lower against 
most other major currencies ex- 
cept the pound. It fell to 1 .5 140 
DM, from 1.5187 DM on 
Thursday; to 97.45 yen, from 
97.74 yen; 1J2673 Swiss francs, 
from 1.2680, and 5.1915 French 
francs, from 5.2075. The pound 
fell to $1.6160 from SI.6I7S. 

“I think people are very wary 
of being short of dollars,” Peter 
Wood, dealer at Bank of Boston 
in London, said. 

Bundesbank President Hans 
Tietmeyer's remark that he 
would like to see a stronger dol- 
lar also helped the currency. 

But Margaret Kudaauskak. a 
Technical Data analyst, said a 
decline in the price of U.S. 
Treasury bonds was weakening 
the dollar. ( Bloomberg, 

AFX, Reuters, Knigfu-Ridder) 


VkKVTT 

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NYTTm 
USBiosel 
GreyLno 
Viacmrt 
x CL Lid 


VoL 

Mali 

Low 

Last 

da. 

21415 

m 

Ita 

IW 

+ H 

11049 38 M, 

37M, 

37Vi 

— ta 

6373 33to 

23>M 

2394 

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6390 

BW 

7V, 

7ta 

+ta 

4932 

299 

1<V U 

2Vu 

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4338 

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W. 

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4130 

1*11 

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3651 

I2te 

11Tb 

ITS 

— s 

3617 

4*. 

314 

3+4 

+ Vu 


Marfcrt Sates 




Pray. 


Clan 

coos. 

NYSE 

2805* 

34189 


1BX3 

1X73 

Nasdaq 

249.11 

311J9 


Previous NASDAQ Mary 


Advanced 1525 

Docttnad 1561 

Uncftcnged T9M 

Total Inm sm 

NewHttha W2 

Now Lows 98 

Spot Commodities 

f— UH Today 

Aluminum, 03 0845 

Ceaper electrolytic, lb 1.32 

Iron FOB, ton 21 ms 

I — w. |h Q_X2 

Silver, troy ax suss 

5N«T I Kraal, ton 127 joo 

Tin, IB 41713 

Ztacta 05839 


ElffiOPEAM FUTURES 

Metals 

CfeM Prrrioua 

Nd Art I Id Ask 
ALUMINUM (HIM Orate} 

MOn per metric ton 
Soot 185250 185150 WMJM 185280 

Forward 188480 188580 188180 100380 

COFFER CATHODES (HIM Grade] 

Oman atr metric ton 

Spot 273480 373S80 Z7540C 275588 

Forward 259380 259480 270480 270580 

LEAD __ 

pouaraperwertcton 

Scot 57150 57150 57450 67550 

Forward 59780 59180 58980 59000 

NICKEL 

Doflan nr metric im 
S ort 6Wm 519080 749580 730S80 

Pvward 129080 530080 761080 761580 

TIN 

Dollar* pwowtrtc ton 

Soot 502580 523580 525580 627580 

Forward 532080 (32580 536080 536580 

MUNIS Pei uicii a. wu 

Seal 115780 115B80 116180 11(280 

Forward 117880 117988 IIUOO 118480 

Financial 

HIM Low CMC OuaiM 
3-MO NTH STERLING CUFFK] 
isomoo- met mart 
DOC 9153 

MOT 9284 

JM 

SOP 9183 

Dec 91X7 

Mar 91-72 

JW 90W 

Sop 90.77 

Dec 9085 

Mar nsi 

** 

Sop mss 

EsL volume: 77,982. 

3AMNTH EURODOLLARS {LIFTS) 

Cl nOMn - pb of W0 net 
DOC 9383 9393 93J3 — 08S 

Mar N.T. N.T. 9384 —005 

JM 9284 9284 92.94 —086 

Se» 9253 9253 9288 —085 

EsL volume: 121. Open Int; 4JP1. 
34WCWTH EUROMARKS {LIPPI) 

DM1 rtBlaa - pts ol 100 pa 
DM 9485 9480 9483 + 081 

Mar 9457 9450 9456 + 082 

i‘438 94.10 94,18 +0L05 

Sw 9371 9139 +085 

Me 93X4 93J6 93X2 +085 

Mcr 93.17 9189 9115 +<U5 

Jim 9191 9283 9288 +U5 

Sew 9266 9260 9166 +O0S 

DM 92X3 9236 9243 +086 

MS- 9132 9236 92.32 +0-06 

JOB 9221 9116 9221 +085 

Sep 9110 9104 9110 +085 

Eat. volume: 94331. Onen ML: 505881. 
3+40 NTH PI BOR (MAT1F) 

FF5 mHloa - nta of UO pet 
Dec 94 29 9437 9478 +001 

MM- 9387 9383 9386 +Q0Z 

Jon 93X3 93X0 93X4 +0JJ4 

Sew 9386 9380 9384 +084 

OK 9171 9262 9263 + 086 

Mar 92X3 9133 9141 +088 

JSI 92.18 9287 92.15 +088 

Sol 9280 9189 9158 +088 

EsL volume: 40X37. Open Irtf.: T85830L 

sa^vuseo ad 

Dec 101<18 100-19 101-07 + 0-12 

Mar 10004 10IM4 m-U +0-12 

ESL volume: 668S8. Oral ML: 107820. 
GERMAN GOVERNMENT BUND (UFFE} 
DM 250806 -Pts of MO art 
DOC 8987 1885 093? +B30 

^valan^^^ML 8 ?^ 
10-YEAR FRENCH GOV. BONDS tMATIF} 


MOB Law 

UT 15780 1SU7S 

Bay N.T. N.T. 

mao 15980 15580 

Mr K.T. N.T. 

I0O N-T. N.T. 

Mb N.T. N.T. 

W N.T, N.T. 

Eat. volume: 14251 . 


Lost Settle aim 

15675 15673 +050 
N.T. 15575 +080 
13580 155.00 + 075 
NT. 15675 + 075 
N.T. 15080 + 073 
N.T. 15980 +075 
N.T. 15285 +073 
Oden Ml. 103818 


9380 +082 
9280 +083 

•ms. +083 
9178 +084 

91XS +085 

a 17 +085 
97 +007 

9077 +006 

9065 +086 

9087 + 085 

9085 + 005 

9051 +087 

ML: 493X25. 


BRENT CRUD E OIL (I PE) ^ , 

ILS. tfollan nor BamMots ef 18N BorralB 
Dec T78f 1782 T776 1774 +007 

Jif 17M 17 86 17.14 17.13 -008 

FOB 17.13 1684 1681 1488 —084 

Mar 1682 1471 1571 1673 UndL 

X 1675 1689 U72 1644 UftCh, 

its isS 1683 UM +080 
JH 1689 1685 1688 1686 +002 

3? 1U0 UX6 1683 1*80 +010 

AM UXO 15X6 16X0 U83 +OT2 

aS 1680 16X8 1640 U86 +014 

S3 1580 1580 1680 1689 +0.76 

NOV 1689 1051 1689 1682 + 0-18 1 

EsL volume: 61810. Open hit. 186.329 


Stock Indexes 

H«i Law Owe CBanoc 

FTSE IN CUFFE1 
*25 per Index Prtrt 

Dec 31278 30968 31158 —48 

Mar 31200 Sl^fl 31348 -48 

Jim N-T. N.T. 31568 —48 

Est. volume: 12050 Open ML: 57.911 
CAC 40 (MATIF) 

FF2W per Index paint 

NOV 19408D 1 VUSm 193480 +T780 

Dec 1*4400 1924J9 194280 + 1788 

& N.T. N.T. N.T. Unch. 

196280 193480 196880 + 17J0 

JOB N.T. N.T. 1951 80 + 1780 


9X13 

9X93 

9X93 

—005 

N.T. 

N.T. 

93X4 

— UK 

9254 

9254 

9L94 

— 006 

92X3 

92X3 

9280 

—005 


EsL volume: 25874. Open ML: 40109. 

Sources: Motif. A ssocloied Press, 
Loodan Inn Financial Futuna Exchange, 
tan PatnOaxn exchange. 




Company For Amt Rec Pay 

IRREGULAR 

Baker Fortress - .15 11-15 127 

few Fentress C 1X6 11-75 12-7 

GnAmcr Inv - L24 11-14 72-22 

Y*ni tom-. Cool . X4TO 11-14 n-29 

C4ramcw>prtns. 

STOCK SPLIT 

tSiSSSST&VA 

XYtoata Me 2 Mr 1 spTTL 

INCREASED 

Aaron Rents B S 85 12-1 T-2 

Gotten W Find a 885 IMS 72-12 

Pufnom AdlR- 

tllsGvA M 84 11-15 11-35 

Straw incfVtaShA B 875 11-30 12-15 

Straw Ind VtFSliB a 8582 11-30 12-15 

SVSCOCorp g .11 1-27 2-17 

West c nast Energy a 73 128 1231 


Potnm Master ina> M 8S7S 11-27 
Putnm Mostr Inform M 852 11-21 
Putnm Premier Inco M 845 11-21 


Arctca Incn 
Newell Can 


. 84(7 11-17 
_ .10 11-Z1 


FF5DOOW 

Dec 

FtaafM 

110X8 

{WX4 

11X38 

+008 

Mar 

109 JD 

103X9 

KW54 

+006 

Job 

1BLTO 

10700 

10X72 

+ 006 

Sop 

N.T. 

NT. 

10758 

+008 


Est volume: 170473. Opwi Ml.: 150774. 

Industrials 

KK8 low Lost Settle CD toe 
GASOIL (IPE) 

UAdolMro per metric to n loti ol IN ten* 
Nov 15475 15280 15480 15480 + 075 

Dec 15775 1568® 15625 15625 +075 

Am 15873 15773 15775 15775 + 075 

F#C 15980 15850 15980 15980 +075 

Mar 15980 15825 15075 15875 +075 


ASA IM x 

Burman Castrol z 

Comstar ind* Q 

Chart Indus O 

Devdoper* Dlvsfcl Q 

HaimaMA Q 

Heel Inti a 

IWCRosoum Q 

independ Square M 

intarcontinent Bk a 

MartnMartctta Mat Q 

Moor* Carp Ltd O 

PenmoUCo Q 

DaWoarct Marine a 

Peerless iwg a 

PrtmeSaurce Cp Q 

Queit ValDIPurpFd M 

Safeco Cora Q 

Timken Co Q 

x-SubUa 14X2 % tax. 
2-*mxi» amount per ADR. 


x 80 11-35 
z xoe u-io 
Q 89 IM 
Q 87 12-2 

§ X8 12-16 
.125 11-23 

S 7«5 11-10 
.35 11-10 
M .115 11-31 
g 89 12-9 
Q .11 12-1 
O 735 12-2 
Q 75 11JO 
a .10 12-16 
Q .125 11-11 
Q .1125 11-15 
M .10 11-16 

§ X9 1+ 
35 11-21 


Bonn Conducts Inquiry on Leaks to Speculators 


U.S./AT THE CIPSE 

Kerkorian Talks of Chrysler Merger 

WASHINGTON (Bloomberg) — He investor Kiric Kerkoriaa : 
said Mto that he was considering wajj to entena the value ^ 
9 pSt stake in Chrysler Corp. including the possibility oi a 

™to?itatement filed with the Seninnes and Exchange Comutis- 
rion, Mr. Kerkorian, chairman oi Traonda Coip^ , said he was 
exploring several alternatives for his Chrysler stake, mdndmg 
buying additional shares, selling stock and even an extraordinary 
corporate transaction, such as a mergw- . 

Bat he appeared to be listing a takeovo- of ±e auto giam among 
a laundry hst of possibilities, as required by SEC rules, radwr than 
a specific plan. He added that he and Traonda Cora had“ave*y 
high regarf” for Chiysler’s current managraiOTt- Ouyrier in its 
latest oroxv statement said Mr. Kerkonan held 32 million com- 


a laundry list of possibilities, as reqmreo oy acv rmes, ramer than - 
a specific plan. He added that he and Traonda Coro, had a ve*y ’ 
high regareT for Chiysler’s current managraiOTt- Qimle- in Its ‘ 
latest proxy statement said Mr. Kerkonan held 32 million oom^ •* 
mon shares, a 9.04 percent stake. 

Kemper: In Market for New Suitors? 

NEW YORK (Bloomberg) — Kemper Corp. may took for a 
new suitor now that Conseco Luc. has proposed cutting by 10 '■ 
percent its purchase price for the financial services company, ti 
analysts and legal experts said Friday. * 

General Electric Co, whose offer forced Kemper to put itself up „ 
for sale in May, could be waitingin the wings, and its re-eatiy could ~ 
put more pressure on Kemper’s board to seek another suitor, they 
said. Kemper must also consider the mood of its shareholdas .« 
following a 22 percent drop in the price of its stock since Jane 23, ■, 
when Conseco successfully bid S67 a share and GE walked away. J 
None of the three companies would comment Friday. ' r 
"People are realizing that some other companies might take t 
another look at Kemper” said Michael Lewis, an analyst at Dean 
Witter Reynolds Inc. Kemper's share price rose 51.875 Friday on ' 
the New York Stock Exchange, to $50375 on volume of U h 
million shares, about four times higher than normal Conseco r 
stock fell S0.75 to 38.125, with 116,000 riiares trading. 

Viacom in Talks on TV Stations 9 Sale 

NEW YORK (Reuters) — Viacom Inc. said Friday that is in 
talks about selEng its five television stations. A spokesman for the 
company declined to provide any further information. ; 

The stations, all network affiliates, are located in Shreveport, 
Louisiana; Hartford, Connecticut; Rochester and Albany, New ' 
York, and St. Louis, Missouri. The spokesman also declined to I 

comment on a published report that Viacom was in talks to buy a 1 

station in Boston from New World Communications Group Inc. 

Cableyision Holds Talks on Alliances | 

NEW YORK (AP) — Cablevision Industries Corp. is in sepa- 
rate discussions with three suitors on the possibility erf forming an 
alliance, the company said Friday. 

One of the companies is Time Warner Inc.,, the second-largest *. 
cable television operator in the country, a spokesman for Cablevi- j 
si on said. He declined to identify the others. ; 

The announcement was made to counter takeover rumors after ' 
a published report that Cablevision was in talks with Time Warner 
and two other unidentified suitors who were interested in acquir- 
ing all or part of the company. • 

Eli Lilly Bows to FTC Restrictions 

WASHINGTON (AP) — Eli Lilly ft Co. has agreed to an : 
unprecedented set of federal restrictions on its $4 billion purchase 1 
of McKesson Corp.'s prescription management business, PCS ! 
Health Systems Inc. 

’ The Federal Trade Commission said late Thursday that the ; 
restrictions would ensure that Eli Lilly would not gain an unfair 
advantage over other drug makers when PCS recommends which 
pharmaceuticals its customers should buy. I 


i^ 1 .! 


A genet Frtmte-Presse 

BONN — The German Economics 
Ministry said Friday it was investigating 
leaks of sensitive economic information to 
speculators on the Frankfurt markets. 

“Millions can be made in this way/' said 
a ministry aide, Franz Wauschkuhn. He 
added that the ministry was “studying the 
possibility of legal action.*’ 

Spokesmen for (he ministry said it was 
possible the leaks had emanated from a 
news agency with advance knowledge of 
the information, which was being passed 


on privately before the authorized time of 
publication. 

They had no concrete evidence regard- 
ing any particular agency, the spokesmen 
sard, but they stressed that after investiga- 
tion they were able to rule out that the 
leaks had come from the Economics Min- 
istry. 

Economic indicators published by the 
ministry, such as those for industrial pro- 
duction or industrial orders, are known in 
advance at the ministry, at die federal 


statistics office, which has the crude fig- 
ures, the Bundesbank, which corrects them 
before passing them on to the ministry in 
Bonn, and news agencies, which receive 
them an hour or so before the authorized 
publication time. 

An economist at S.G. Warburg, Stefan 
Schneider, said there did seem to be leaks 
of economic information to the markets. 

He said that for three or four months the 
markets had been moving about half an 
hour before the official publication time of 
an indicator statistic. 


For the Record 


quarter production 

for the United States and Canada by 15,000 vehicles, bringing the 
total of cuts since September to a total of almost 50,000 vehicles. 
GM blamed material shortages, a strike and a slow production of 
new models for the cuts, which analysts said could cost it $130 
million in profit ( Bloomberg) 

Kmart Gnp. said it had completed the saJe r of its 2L5 percent 
stake Odes Myer Ltd., the Australian* retailer, giving it cash to 
reduce debt and invest in its U.S. stores. Odes Myer paid Kmar t 
1/26 billion Australian dollars ($934 million) for its snares. 

( Bloomberg) 


WORLD STOCK MARKETS 


U.S. FUTURES 


Season Saasan 


Agmee Fume ftaua No», 4 
aoMpiw. 

Amsterdam 

ABN Amro MW MTU 60X0 


ACF Hotting 
Aegon 
AhoM 
Akzo Notort 
AMEV 

BoM-Wossonen 

C5M 

DSM 


Gtat-Bracodea 
H8G , 

Helnoltan 24AJ0 24150 
Hoogovena B2 B0. ID 

Hunter DQUOlas 7870 7470 
IHC Calond 4X40 4X50 
Inter Mueller 95 9470 
irrt*1 NMarfarW 79 JO 78X0 


36X0 36 

10X10 10470 
4970 4870 
20180 207 

7080 5970 
33-50 3370 
68X0 5870 
14450 142 

1&98 17 

1X10 15 

45-30 45 

288 283X0 
26650 24150 
82 B0. ID 


RMtnmctall 
Selwr tag 

Siemens 

Tnvssen 

vorta 

vrtw 

VEW 

VKJO 

Volkswagen 

Welfa 

DAXindu: 


27727450 
982 985 
62170 620 

28950 286 
310 300 
505 501 

38070377X0 
469X0 470 

44480 442 

1015 1005 

or 


KLM 

ICNP BT 

KPN 

Nedllovd 

On Grin ten 

Pawned 

PfiMra 

Polygram 

Robeeo 

Koaomco 

Roll, ICO 

RarontD 

Royal Dutch 

Stark 

Unilever 

VanOmmeren 

VNU 

Waiters/ Kluwar 




47.90 40 

49X0 50 

55.10 5380 

54.10 53JD 
73^SB 
4X30 

_ 56X0 
T7 75X0 
11X20 11X30 
5080 50.70 
116 115X0 
80 8180 
30 19270 
44 4380 
199X0 199X0 
46 JO 4670 
175 178 . 

121 12X70 


Brussels 


7500 7490 
NA 4950 
2420 2410 
NA 4245 
23900 23975 
12000 12100 
NA 2645 
1950 1945 
193 195 

5S8 2S 

»45 2835 
NA 2475 I 
1222 ! 


Atewrtl 
Artwd 
Barca 
BBC 

Bekaert 
CBR 
CMB 
CNP 
Cockaflli 

Cotwpa 
Calruvi 
Delholn 
Etechrtirt 
eiectraihra 
Forth AG 
GIB 
GBL 
Gevaerf 
Gtawtort 
immaM 
Kradteitrank 
Mason* 

Patraflna 
Pawerfln 
Rectfccl 
Royaie Beige 
SacGenBaranw 
Sec Gen Brtgiqua 21 
Safina 
Solwv 
Tateendarto 
Tractetaei 
UCB 

Union Mlnlera Z74S 2730 

Wagons Lite NA. 6300 

Frankfurt 

AEG . 15270 ISO 

Alcatel SEL 112 310 

ARtanzHoM 2300 2280 

Altana 661 650 

Aska 765 790 

BASF - 31770 314X0 

Baver 34Z1O340X0 

Bar. Hypo Bank m M 

Bay Vtrrtnsbk 446441X0 
BBC 699 TOO 

BHF Bank 398 397 

BMW 781X0 774 

Commerztoonfc 315X031380 
Conflnenfal 21921X50 
Daimler Bara 77170 758 

Deowssa 440 441 

Df Babcock 23122420 
Deutsche Bonk 74U0 738 

DouolaS 440 460 

Drasdner Bank 409X040280 
FeMmuehle 298 300 

F KrunSHonch 201X019980 


Helsinki 

Amar-Yhtyina 106 108 

Eitso-Gutzeli 4070 4X60 

HUhtomakl 149 150 

K-OF. 8X6 8X0 

Kymmene 127 126 

MStra 150 149 

Nokta 690 695 

Pohlalo 73 74 

Renata 95 95X0 

Stockmann 255 252 

Hong Kong 

33.90 
11X0 
3490 
39.10 
1X10 
1375 
5775 
51 
32 
1470 
2370 
19X0 
1875 
91 
1X90 
16 

££ 

2X15 
6475 
29X5 
T4X5 
975 
1880 


3/3 

370 
5775 
955 
AI5 
3080 
1685 
1X10 

nra. 1080 

Johannesburg 


I GEC 
i Genl Acc 
l Glaxo 
I Grand Met 
I GRE 
I Guinness 
I GU5 
I Hanson 
1 HlllKkwm 
S HSBC HWas 

inchcape 
Kingfisher 
Ladbroka 
Land sec 
‘ Laaorte 
Laanra 

. Legal Gen Grp 
Lloyds Baik 
Works Sp 
MEPC 

1 Non Power 
; Notwest 
NthWst Wafer 
[ Pearson 
P60 

! Pllktaaton 
PowerGen 
Prudential 
Rank Ore 
Reckltf Col 
Red) and 
Reed InH 
Reuters 
RMC Group 
Rolls Ravce 
Rattmui(unll) 
gore! Sco. 

Sdlnsbury 
Scot Neman 
Sort Power 
Soars 

Severn Trent 

Shell 

SIMM 

Soillti Nephew 
Smith Kline B 
smith (WHI 
Sun Alliance 
Tate S Lyle 
Tesco 
Thom EMI 
Tomkins 
T*B Group 
Unilever 
UM Biscuits 
Vodafone 
war Loan 3» 
WeOcotna 
WhHhreod 
Williams Hdas 
WHI Is Carroan 


286 286 
585 589 

&B9 &M 
4.10 +13 

1.92 189 

485 471 

Si 3 l* 2 

236 228 

IA7 189 
739 732 

774 7 80 
4X2 432 

4X0 4X7 

1X6 1X9 

670 671 

782 689 

IX* 1X7 
435 435 

573 571 

4.14 418 

475 430 

484 486 

584 585 

5X2 5X1 

676 6X1 

6X1 6X2 

1.94 184 

5X4 5X4 

372 118 

3.95 198 

5^ 586 

4.70 4M 
7^ 7X7 

48B 488 

9.97 986 

178 17B 

415 422 

451 453 

850 BJ51 
414 412 

5.14 S.16 

3X6 3X2 

J77 187 

580 576 

770 7.18 

SX8 5X3 
1X4 1X3 

413 410 

4X7 4X3 

IM 378 
477 420 

££ us 

977 974 

2.10 286 
279 279 

11-30 1172 
X17 114 

2.10 ZTO 
4171 41 


BCE Mobile Com 
Cdn Tire A 
CdnUfllA 
Casantes 
Crowns Inc 
CT FlnlSvc 
Gaz Metro 
GiBtesf LHeco 
HeesinrtBcF 
Hudson's Bay Co 
Imasooud 
invKtarsGrp Inc 
Lotoaft (Jrtm) 
LoWowCos 
Mobon A 
Nedl Bk Canada 
OshowaA 
Panodn Potrolm 
Power Com 
Power Flnl 
QuebeeorB 
Rogers Comm B 
Ravrt BkCda 
Seare Canada Inc 
Shell CdaA 
Soatfwm me 
S telco A 
Triton Ftn'IA 


42 42 

llta lOta 
23% 24% 
7VS 7ta 
18W. IB Vi 
18 18 
12W 12V. 
20V4 20% 
13*. 13M 
26 26ta 
39te 3916 
15V. IP’S. 
2056 20M 

2 m 2m 

9ta 9Vi , 
19 19ta 
42ta 42 
1816 1816 
2916 29 

16V) 16M 
19V. 19Va 
27H 27Tb 
8» 8te 
45V. 4 5ft 
MM 14ta 

aw. m, 

385 385 
114X15 


Close Pr*u. 
SMoFetlm, 2X9 2X0 
Stao Press fora Z7X0 27 
sing SMpbkto 2X0 2X0 
SJrw Trtecotnm 3.18 3.16 
Straits Sleom 570 5 

SlraJIsTrodl nw a« XflB 
Tot Lee Bank 462 4X0 
VJdtadusMol 1X6 1X6 

BSgSKJS' '“3 ’US 


571 5X7 
1X4 3X5 
1X1 1X1 


Accor 
AlrLJauUe 
Alcatel Ataflutn 

Axq 

Btwcaire (Cle) 
BNP 

Bauvnuee 

Danone 

Carrefour 

Cerus 
Qrarorurs 
Clments Franc 
ChAMH 
Elf -Aquitaine 
Euro Disney 
Gen. Earn 
novas 
l metal 

Lafarge Cappee 

uro rand 
Lyon. Eoux 

eesm? 

Moulinex 


AJBCI 

Ajtedt 

Anuta Amer 

Bartows 

Blwmr 

Buffets 

De Beers 

Drtefonteln 

Gencor 

GFSA 

Ho m tony 


27 27 

NA 121 
242 238 

32X0 3175 
10 IBX0 
40 40 

100 9775 
6575 6575 
1575 IS 
1271265B . 
<1 41 


ffisysieei 


Madrid 

BBV 3300 3300 

Bco Central HISR 3000 saa 
Banco Santander smo son 
BanjBto 883 860 

CEPSA 3270 3253 

Draaodos 1940 1920 

Endesa 5708 srifl 

E rents 155 155 

Iberdrola 825 820 

Reasoi s»n 

Totncotera 3SM 3320 

Telefonica 1685 1675 

Stack Exchange index: 29&X2 


lipGerwrale 
Suez 

Thgmeon-CSF 
Total 
UAP. 

Vateo 

fiieasiur - 


Stockholm 

AGA 69 70X0 

AseoAF 519 510 

Astra AF 187X0189X0 

AflasCooco 96 96 

Electrolux B 354 3S9 

Ericsson 432 43 1 

E<nclt»* 93X0 94 

Hcmtelsbonk BF 87 B6X0 

Investor BF 174X0 173 

Norsk Hydro 254 253 

PhormadcAF 132 132 

Scmdvih B 118 118 

5CA-A 111 H2 

S-EBaikenAF 4448 44 

Stand la F 126X0 126 

SkamkaBF 153 152 

SKF BF 130 T29 

Staro AF 426 431 

Trellebaro BF 107X0 106 

VOfvoBF 135136X0 


Sydney 

ftsr ^ is 

BHP 1988 28 

Barol 370 371 

Bouaainullte 074 071 

Ones Myer 419 419 

Comafco 5X0 sxn 

CRA 18X6 18X2 

OR 4X5 4X5 

F arte rs Brew . 1.15 L77 

GoodnranFleW 171 1.19 

ICI Ausironq 1170 1174 

MaseUan 177 1.92 

MIM 289 291 

Nat Ausf Bade 10X0 WX0 

News Corp 57D 575 

Nine Network 190 i£ 

NBrotan HTU 3X2 3X4 

Ppc Dun lap 410 410 

Pioneer Inti 377 377 

Ninety Poseidon 272 272 

ii 

S?sss.sg 

All Ordtoarte Mdex: 199980 


5onv 

Sumitomo Bk 
SumltanraChem 
Su ltd Marine 
Sumitomo Metal 
Talsef Corp 
Tafceda diem 
TDK 
TrtHn 

Tokyo Marine 
Tokyo Elec Pw 
Toppan Printing 
Tornylnd. 
Tadiltoa 
Toyota 
YarnotaW Soc 
a: x 100. 


CtosePrev. 
5830 5850 
1800 im 

579 569 
876 SB® 
358 363 

640 637 

1160 1170 
4600 4700 
560 555 

1140 1160 
2810 2800 
1420 1420 
738 758 

744 744 

2110 2120 
764 761 


Vto Asradotod Plan 

SeuaiT Season 
KCgh Low 


Ooen Kgrt taw One as Ctoint 


Toronto 

AMtlM Price 17* 17* 
Air Canada 7ft 7ft 

Alberta Energy 20ft 20ft 
Alcan Aluminum 34ft 35ft 
Amer Barrie* 31ft 32ta 
Avenor 2SK 2 6ft 

BfcNava Scotia 26ft 26ft 

BCE 46ft 46ft 

BC Telecomm 25ta 25ft 

Bomtoartler B 21 Vz 2m 

Sranrahn 3X5 3X5 

Broscmi A 20'* 2®fe 

Coroeoo 27ft 27ft 

CISC 31V. 31ft 

Ctto Natural Res Wta loft 
CdnOcdd pet m» 33ft 
Crin Pacific 20ft 21ft 
Cascades Paaer 6 6ft 
Comlnco 25ft 25ft 

Consumers Gas 17ft 17ft 
gptaaeo 18ft 18ft 

Donran ind B lift II 
Du PontCda A lSVj im 
E cho Bay Mines 16ft lift 
IfnrtreCaA UVj 13Vi 
FakWibrWge 25ft 23ft 
FWdber ChaiJ A 17 16ft 
FronCONmtada 82ft Sift 
Guardian Cop A NA ovt 
Hemlo GoW 14 13ft 


r 2U% ji 

impertai'oil 47ft 48ft 
g™ Wft 39ft 

PLErarar bh aaft 
Lrtdkm A HJV. 10ft 

LaWtowB lou }ms 
Loewen Group 34ft 35 
London Insur Ga 23 23ft 
Macmin Btoodel IBVj left 


jgMks 

Moore 


48ft 49ft 


Kloaf 7025 69X0 

nSStESS?’ SS S3 

Honaroronn 4475 43X0 

fta»>laf 1I311Z5D 

SABrews m 97 

St Helena NA — 

Sesrt 35 35 

Western Deep 209 209 


London 

Abbey Nan 41j 
Allies Lyons 196 
Arlo Wiggins 2X7 
Argyll Group 2X4 
Ass Blit Foods 5X7 
BAA 5.18 

BAe 453 

Bank Scatland mi 


Hcrncne r 

Hcnkrt 

Hachttef 

Hoechst 

B 1 — * ■--- 

norangrin 

Horten 

IWKA 

Kail Sole 

Karsfodf 

Kaufhof 

KHD 


322 320 

586579X0 
96S teO 
325320X0 
865 852 
207X0207X0 
338. 340 
161X0)62X0 
605 618 

499X0 507X0 
125X0125X0 


Ktoecknerwerke 13713480 
Unde 910 908 

Lufthansa 19319410 

MAN 407X0 400 

Mannesmann 409X0 60t 

Metanaeseir 15X50152X0 

Munich Rueck 2740 2745 

g»«t» 636 632 

Preussoo 444X0439X0 

PWA 236 234 

RWE 45450454X0 


BAT 4J3 

BET 1.12 

Blue Circle 287 

BOC Group 781 

Boots 5ul3 

Bowaler 444 

BP 4J7 

Bril Airways 3X3 

Brit Gas 2.91 

Brft Steel 1X5 

Brit Telecom 3.96 

BTR 381 

Cable Wire 480 

Cadbury Scti 4X0 

coradon 275 

Coats Vlyelto 1.96 

Communion 5X1 

Cuurtoukto 458 

ECC Group 3X5 

Enterprise 011 187 

Eurotunnel 220 

Flsons 1.18 

Forte 7X3 


I AItaarao 

Asrttalto 
Autostrode prlv 
Bra Aorlcoiluro 
Bca Conwner Hal 
Bra Naz Lavaro 
Bra Pop Novara 
Banco dl Roma 
Bc&Ambrratanra 

Bca NapaUrtsa 

Benetton 
Crctiita itaJIano 
Ertdwm Aug 

Flalsaa 
Flnanz Agrglncl 
Finmeccanica 
FontUarkispa 
Generali Asaic 
IFIL 

Itataementl 

MeSSmca 
Montedison 
onvettl 
Pirelli saa 
RAS 

Rlnascente 
San Paolo Torino 
SIP 
SME 
SntabPd 
Sfonda 
Stet 

ToraAssIc 


Sao Paufo 

Banco d o Brasil 16X0 142D 
Banos p o 8X5 8xo 

Brahma 295 290 

Cernte 8 s it 

Etofrobroe 317 39 a 

Itaubcnco 27D 261 

Urt’l 340 321 

Paranapanema M.15 13 X 0 
Patrobras 122J’ us 
Soum Cruz 110 7X6 

TeHbras 3880 37X0 

TrtMf 42D 401 

ustmteas 1X6 1x5 

Vale Rio Doce 1(2X0 175 

Varts 25B 223 


Tokyo 

Atal Electr 415 418 

ASCW Chemical 769 777 

Asahl Glass 1230 1230 

Bank of Tokyo 1450 1460 

BHttopSlWie 1560 1570 

ftSP" 125 1770 

Carlo 1290 1390 

Dal Nippon Print 1760 1790 

Datum House 1330 1330 

B®iwa Securities 1390 Isn 

FotefC . 4670 4660 


F«|J Bank 
Full Photo 
Fujitsu 
Hitachi 

Hitachi Cable 


Montreal 


AtCO Lid I 14 14 

I Bonk Montreal 24ft 24ft 


Singapore 

Asia Roc Brew 1660 148) 
Cerefaos 860 bjo 

aty Dewrtepmnt 460 465 
Cyrfe & Carrtaee 13.W T3X0 
DBS 108a nun 

?Ilffiston 7ril tS 
Fraser & Noon 1738 MM 
GtEastaLHe 2418 m® 
Hang Leans Fla 4SD 450 
InctMOPe SXS 5X0 

Jurona Shipyard 13X0 1126 
KayHlanjCapd 1.90 1x0 
jw* . luo nn 

Netsteel 116 im 

Neptune Orient 117 1)6 
OCBC foreign 15X0 1560 
erseas Union Bk 7.15 7.10 
Otocas Union Ent 9JE 9x0 
samogwane it jo 11.10 

Stale Singapore 1.15 1.15 
Si ng Aerospace 133 229 
Slna Airlines kirn 1420 14 
Sing Bus Svc «0 920 
Slno Land 9X5 495 


2130 2191 

7250 2300 

ion loao 
999 999 
846 845 

jto Yofcodo S 5?» 
Itochu 744 749 

JOPmi Airlines 746 746 
Kollmo 075 878 

IGuncri Power 2430 242D 

1 S 1 S 

760 a 

Kraccra 7330 7310 

Moteu Etee inds mqq ism 
MatsuOeeWks HOT MBO 
MlfsubhMBk 2340 2360 
MnnAChemfral 565 565 
Mitsubishi Etoc 787 7W 
MHsubbMHev 77B 776 
Mlteutoishl carp 1320 1320 


Howbrkkw Netw 38ft 39ft 
Noranda Inc 2S 25ft 

‘ Noranda Forest lift lift 
Noram Energy 17ft I7W 
Nttwrn Tetocam 45ft 47ft 
Novo 13ft 13ft 

One* 13ft 13ft 

Petra Canada 12ft lZft 
Ptocnr Dome 28ft 

PotohCorpSask 44 SSI 
Prevtaa 5ft 5ft 

PWA 0X7 0X6 

Ctoetoecor Print u 14 
Byt MAwmo e Env 31 Sift 

RteAlaom 25ft 25ft 
Seagram Co 39ft 37ft 
Stone Cansakl 16 ft 
Tatanan Env 29ft 29ft 
Trtegiabe 17 

tarwm 15ft IM 

S^jomBank 19ft »5% 

TransCda Pipe 17 ” 

uia wcstawne im> 11 

iw 3SS 

Xerox Canada B 45ft 44ft 

J&VUZ&JS** 


Grains 

WHEAT (CBOT1 MONiMnn-dMinrluM 
4.18ft 389 Dec 94 3X7V, 191ft 187 389ft » 08 1 ft 3BM 

4 24ft 127 Mar 93 199 407ft 1« 480ft 55,917 

1911ft 116ft May ¥3 177 UHIft 176ft 379ft +081ft 427D 

163ft 111 AH 95 3X7 149ft 145ft 147 -4180ft 10.316 

145 3X0 Sep 95 157 153ft 1ST 151 -401ft 2» 

175 155 Dec 95 352ft 362ft 16JVi 167ft ♦ 080ft 151 

IMft 134ft Jutto US — 880'* 7 

Ed. sates NA. Thu's, soles 14X05 
Thu'S Open Int 76650 w> 919 
WHEAT 00X71) SM Du RpWnum-aakysBVBuiM 
42Jft 112ft Dec 94 480 481ft 3375, 481 ,087ft 17J73 

427ft 125 *Na 9S 199 483 139 480ft ♦ttipV. ijj# 

403 171 ft May 91 181 183ft 100ft Ifllft +081 1X54 

160ft 116ft All 95 3X1 ft 154ft 3J0ft 3X3 +081 3XW 

377 1» Sep 95 155 3X5 3X5 3X5 -081 77 

359ft 350ft Dec 95 162ft— 881 8 

Est-Sdes NA. Thu'S. soles 7X33 
Thu's o pen W 34210 up 137 
CORN (CBOTJ MBhnMTUn-MnnrWP 
117 LU>6 Dm:M 115ft U6ft 1W 115ft «-<UBVillUU 

287ft 271ft Mar « 2JZ6ft 227ft 126ft 127 *08Dft 64X04 

255 780ft May 95 2J4» 285ft 234ft 2J4ft tJUIOft 25.709 

2JBft 2.35ft Jul 95 240ft 240ft 2J9ft 2X0 +OOOVi 31888 

2J0ft 139 Sep 95 2X41*. 245ft 2X4ft 244ft 3812 

263 135V. Dec 95 249 249ft 248ft 249ft 1 880ft 14X68 

2X9 2MftMar96 155W ZXSft 2X5 2XSft ♦OMft 378 

146ft 2-S5V.AH96 162 251ft 262 762 ft * 080ft 586 

Efl.wteS NA. Tters.«tas 77.533 
TjyiOP Mjnl. 254X39 UP 1876 
SOYBEANS (CBOTJ Mntuntonm-pInpvtuM 
7X715 126ft Nov 94 5X1 SJlft 550 550ft 6004 11770 

784 5J7ft Abi 95 550 553 5J9ft 552 +004 S1853 

7JO 547ft Mar 95 sm, 573 550ft 572 *084 2S63B 

785ft i56 May 95 Steft 581 577ft 580ft *DJM 0777 

784ft 553HJUI9S 584 587 583ft S84ft ,083ft 7T8Q5 

6.12 56&ftAuaK 587V, 5.90 587ft 589 +083 ft 1XV 

6.15 571 Sep 95 58954 591 589ft 190V. ^ 081 ft 654 

550ft 578ft Nov 95 557 599 5.96ft 598ft +8.03 7.982 

587ft 199V, Jm 96 504 68* 504 686 +082 ft I4B 

521 599ft JUl 96 520ft +504 27 

Est-srtes NA. Thu'S. Mies 30894 
Thu'S open irt MZ748 up 721 
SOYBEAN MEAL (CBOT) Ww+MniaM 
20980 I5B70DK94 159X0 159.40 15878 159 JO +080 39.172 

207X0 U08D JanU M&ffl 16083 140X0 ,(L60 1V7S1 

207X0 16E10 Mar *5 164X0 1*5X0 16480 16570 +590 15290 

20780 167X0 May 95 168X0 169 JO 16140 169-10 +068 9,154 

70690 17070 AN 95 17130 174X0 172X0 17430 +130 9,876 

162X8 17280 Auy 95 17550 17500 174X0 17550 +1X0 1X52 

1*7-78 173J05CP9S 177X0 +1X0 1X13 

18180 175800095 178X0 17980 17530 179X0 +1XJ 2942 

-10480 175X0 Dec 95 18280 18230 1*1X0 1*238 +130 1X71 

„ WnW W5SB +1X0 1 

Est softs NA. Thu's 
WlOOeP W 100367 
SOYBEAN OH. (CBOT] 

2*87 2280 Dec 94 

28X5 2285 Jan 95 

28J0 22.71 Mar 95 

2888 2285 May 95 

2785 2236 38 95 

2730 Q73AU0 9S 

2473 223J5rp95 

2425 723 5 Oct 95 

2437 2280 DSC 95 .... . 

1UI 2335JIS1M 24X0 +085 1 

EsLlrtss NA. Thu'Lsetes 30,931 

TWaoomto nju up ost 

Livestock 

CATTLE (CMBU •H^aOMTh 

7430 6730 Dec 94 TWO 70X7 70.10 70X7 +0.77 30X02 

7435 4685 FtbM 69.15 69X5 6980 6932 +0.17 21852 

7110 ff 37 Apr 95 69X1 6985 69.42 *9X2 +085 14X73 

6980 6420Jun9S 4543 6155 65X0 6150 -0.1a 4810 

6410 6160 Aug 95 64X0 6465 648) 6445 -0.15 1XD7 

035 642KM95 6431 UM 65.10 65.10 -037 291 

66X3 66J0DBC95 6530 3 

Eatarfu 7,160 Thu's, antes 7,713 
Thu's ope n tot 72.160 up kbb 
FEED lKCATTLE (CMERJ SMB In.- CM! nr ft. 

0080 71 J5NDV94 7580 75.10 7400 7580 -OIS 2X11 

SOLK 71X0 Jon 95 7450 7455 74M 744S -4L10 3X34 

KL3S 71135 Mar 95 7285 7173 72X5 7255 -0.13 UM 

7590 tt-teAorW 7185 7195 7131 7131 +485 60 6 

76X0 69J0 May 95 7188 7180 71X0 71 XJ 392 

7385 *980 Aug 95 7TJ3 71X0 71 JO 71X0 +A.1B 132 

71X0 69 JO Sep 96 7495 +O.T5 to 

r*t 747 Thu'S, seta 1,393 

Thu's open im 7X23 all 21 
HOGS (CMBU 4L0Hln-e*Miparn. 


Low 

open 

High 

Urn 

1008 to 96 

mi 

IL14 

1117 

U.lSMovM 

1UB Jut 96 

i 7377 Thu's, softs 10JD6 
gnM 1*4X47 up 1*41 
(NCSEI wmanenm-toerran 

1041 Dec 94 

1317 

1329 

1305 

1077Mar» 

1343 

1353 

1335 

1078 May 95 

1370 

1375 

1361 

T22SJU9S 

1390 

1392 

1309 

1388 SCP 95 
1290 Dec 95 
lssotow 

1478 

147* 

1478 


Season Season 
Wah Law 


Open HWi Low Close Cho opjnt 


12.12 -082 

12.12 -082 


1307 —12 21,109 

IIP —10 29344 

1360 —13 8.162 

1383 —IS 3806 

1405 —1* 18*5 

1435 -22 58*0 

1465 -IS 4304 

1* —14 852 

1510 —14 11 


160 1225 May 96 1* —14 852 

__ JUte IDO —14 11 

Est.srtes 14344 Thu's, sues 9,907 
Thu's open Int 75813 rtf 160 
□RANGE JUICE {NCTTII lsxaDbv-cmsewb 
13400 8580 Nov 94 10880 10930 10*80 1CB.10 -050 565 

13200 8980 Jtel 95 112X0 11145 11180 112.15 -080 14X98 

17435 9380 Mar 95 11685 11595 11530 11530 -075 5372 

12435 9780 May 95 11980 11980 11980 118.95 -0X5 1X26 

12300 1D0J0A1I9S 122.45 -8.15 OT 

125X3 10735 Sec 9j 12580 12535 12300 12495 -020 *92 

12450 10900 Nov 95 11980 12335 12150 12245 —100 1,157 

12700 laUOJtelM 12165 12165 123X5 122X5 —180 

Mw 96 122X5 —180 

Esl soles looo Thu's, itees 2338 
Tte/sopenlnt 25X23 up 96 

Metals 

MMADECOPPBI (NCMX) 7SJm ft-anknrii 
127X0 7735 Nov 94 17430 12*20 12&J0 128.10 +110 1330 

12680 7535 Dec 94 12450 1P30 124X0 1 1470 +100 40,1*7 

125X5 7490 Jon 95 11520 12530 12530 125X0 +130 928 

12460 J20ORID IS 12425 +2X5 5*2 


93.180 92810 Junto 92840 92860 91X10 91X70 -60131041 
91570 91890S*PM 91X90 91X50 91850 91060 -60119846 
Ed. stas NA. Thu's, sales 435JW 
Thu’s open Int 2,574527 Ofl 760* 

BRTnat POUND (CMBU S WooanU- 1 poMwwAlSUnsi 
1X436 1X500 Dec 94 IX1B6 1X198 1x040 1X144 — 22 64862 

1X640 Mto 95 1X066 1X146 1X030 1X136 -18 651 

1X38D 1.S348 JUnlS __ 1X114 -14 17 

Ert.stas NA. Thu’s srtes 1179* 

Thu's open Int 43830 oft !M 

CANADIAN DOLLAR (CMBU Soerdfr- 1 pom courts mom 
0300 03038 OeCM 03364 03375 03346 03367 +5 33.995 

07605 03020 Mar 95 03354 (L7372 03350 03367 +5 1334 

03522 0X990 Junto 07358 07356 07350 03357 +2 99 9 

03438 6J96fiSep95 B3345 836 

07400 are«DKto 03332 76 

87335 07310 M<r to 07317 4 

Eft.soies NA. Thu's. sate 6852 
TlM'snpwiIrt 37X34 OH 1003 
GSIMANMARK ICME+U sppirwK-iBelniequoftmsWl 
06731 0X590 DOC 94 0X590 0X610 03545 06400 *7 94741 

0045 oxnoMorn qmk oxtis 045*5 ax6ii +1 ur 

SS2 0X405 0X630 06600 06633 +9 1856 

0X740 0X347 5a.9J 0X653 +11 lit 

Sl.HtaS NA. Thu'S. st*n 45,125 
Wsapentnt 91.706 o« 2614 

O-OI^^SOTa^^EffinSiraoSMBSSuSo* 080 *! 7 60309 

SffiEfflBZSS :s ^ 

SS8SS :§ z 

001 0930001 077UMa' to O0W94 IS H 

ra.sctas NA. Thu's. sales 32304 
Thrts Open Int 7183 oH 1467 


7100 Mr* to 17100 12143 121.10 121110 


+1X8 *42n 
+280 712 


SWM FRANC (CS4ERI i oar Pane- 1 vaMaquelt <0X001 

2-4«»D*C w a_7995 038OO3W1 3Sxn 

S «« wn 0.7735 *1 2013 

2-2S555 079*1 +4 17* 

00155 OBSJlSepto nano +5 t 

E4». sate NA. Thu's, sitas 22X57 
Thu'S wen W 40.97* oH 1970 


+0X7 37,14* 
+133 15831 
+OW 1489* 
+011 12.932 
+0.16 7X10 
+018 2,174 
+ OU 1,555 
+0.10 1.712 
+085 £112 
+005 I 


+0.17 30X02 
+017 21852 
♦ 085 14873 


17700 76X5 May 95 11980 119X0 11980 119 JO +1.70 2X06 

11780 104.SOJW195 UU5 +1X5 

11U0 1I7J0 +ixo 1,920 

11700 TIIjBAuoW 116.10 +100 

116X0 79.10Sep» I14L7D +1.10 1806 

Oct 95 11300 +Offil si. 

11505 8*00 Dec 95 11100 112-50 11100 111 JO +0X0 1X33 

UIJ0 63.SnjanM 11030 

11200 62.70 Mcr to 108.70 -000 

109 JO 10780 May 96 107.01 — sus 

Jin to 106.00 — CO'S 

Sep 9* 1D4J0 —1 85 

Est. softs I4MSB3 Thu's, sales 11,971 
Thu's men int 61810 rtf 571 
SU.VER (NCMX) uaorwML-aHApertnrez. 

— __ Ntw,M ^ 5240 —20 

5978 3808 Dec 94 527J SSLS 5248 5268 ~2J 71X08 

5765 « 1.0 Jon 95 5328 SLO 5320 5320 +0J 86 

6048 41 6J Mar 95 5368 5410 S32J 5340 —2X 20557 

6065 41 08 Nicy 95 S44X 5455 5418 5408 —20 4.722 

6100 4200 Jut 95 5470 5510 5478 547.1 —13 4016 

6035 53755eD95 5S3X -LI 

63*0 5350 Dec to 5628 56*8 5628 563J —15 0706 

61L0 5758 Jan 96 5670 —10 

6228 5340 Mar 96 S74A —1.9 

SW8 5865 May 96 sue —18 98 

6608 60 OOJulto 5*97 —10 

Sep to 5977 —15 ) 

Est. sates NA. Thu's, sates 12806 
TteTiDPenW 11L53S nh 1456 
PLATINUM OIMSn ■nrx'doft'KVMrii 
43iH £4J0Jan95 41980 41050 417X0 HIM —0X016,216 1 
47900 39080 Apr 95 42350 42580 42350 42140 —050 4X31 
43700 419X0 JUito 0.10 —050 1X03 ' 

44100 422800095 CL20 -050 

<3950 43*JM-knto 41600 —050 

ESI. softs 1865 Thu's, sales 1,152 
Tte/sopanM 25,155 Off 21 
GOLD (NCMX) MDIrovoL-'Manpwtrttru. 

387jn Siiia Mov 94 3B3J0 +114* 7 

42654 34380 Dec 94 38400 3*150 39 350 3*4.70 .000 84.169 

Jan 95 306X0 *600 

41180 36X59 Feb 95 3RX0 38980 3*700 3HX0 +(L« 20X71 

41780 36450 Ajv 95 39280 39L60 391.to 39210 +040 90*6 

S- 130 396X5 39450 39500 +0X0 10J41 

41450 38050 Aug 95 39900 40000 39980 3*9.90 + 080 6.154 

41900 40100 Oct 95 434.10 +S3 

42700 40050 Dec 95 4008] 40800 40*00 40&4J .0X0 7.933 

43450 *175QFeb96 41208 *070 

«LM 41 *00 Air 96 41780 +IL2D 

43150 41100 Am 96 421X0 +0-0 5X67 

AuoM 476.10 +080 

ew. softs 25X00 Thu's- sales 11801 
Thu's open Ini 163810 UP 401 


Industrials 


Mitsui oeid Co „ 

Mftarl /ftOrlne 73* 741 

Mtoltelil 9*5 977 

Mtaiml 1430 MOD 

NEC 1220 1210 

'SfSNteterj ton 1010 
NlkiuiSrajrNtas 1130 mo 

Nippon Knpoku 999 970 
Nippon 011 *90 6*9 

Ntopori Steal 398 an 1 

Ntapon Yusen 659 «S3 

Nissan 824 *14 

Nomura S*c 2000 2010 
NTT „ ftsoowm 
Dtympus Optical 1U0 1100 

Ptenaer 2520 2SW 

Rtcon 937 040 

Sanyo Elec 569 562 
Share 7800 1790 

Stilmazu _ 7i< 714 

ShteehtoOieni 202o 2050 


§63 BS7 
73* 741 
985 977 
1430 MOO 
1220 1210 
10W 1010 


Zurich 

Adta inti B 212 223 

AhnuInBnew 624 622 

R BC Brwn Bov B 1067 1066 

Jba Getav B 735 737 

CSHaMinosB 571 569 

g lektre wB 345 344 

F bcher 8 1470 1460 

intenDscowit B 1935 19^1 

JelmoU B 8M 820 

LondlsGvrR 735 aas 

MotwnpKk 
Nestle R 


735 665 
400 m 

11*1 im 


*90 6*9 
398 39* 
659 653 
824 814 

2000 2010 
0150a KiSSa 


OwtacBuetuteR MI 138 

PanmoHidB 1420 1420 

RggwHdu PC 5B« 5810 

Sofro Republic •*" — 


Schindler B 
5uber PC 

Surveillance B ■mu iujv 
S wiss Bnk Corp B 349 354 
Swiss Rrtmur R 748 755 
Swbsalr R 860 869 

UBS B _ 1140 1140 

Winterthur B m 684 
Zurich AraB 1227 1280 
SBC index: 905.17 
pmfoas : 902X0 


101 IK 
era 66* 
7300 7200 
900 895 
1090 1850 


S050 J30ODOC94 360* 34X1 S0O 33X0 -077 17,96S 

mm 35X&Fren ».w uxo aun sus -oj* *,012 

&n 36.10 Apr IS 37,10 37X5 36.90 3695 —0.10 4087 

47XB 4187 Junto 4LSS 4L67 4200 4ZJ0 —0.10 230 

4580 41X0JUI93 4259 42£3 42X5 4255 +118! 6*4 

4X40 41.l5AuO« 4217 4230 4150 4285 +0.10 424 

4051 3SJOOOW 3980 39J0 3673 3*95 +0.U 365 

4105 3900 Dec 95 4U5 4800 4080 4US +000 5* 

4200 41 00 Feb 96 41X0 41X0 41X0 41X0 +Ut 3 

EtLsrtes «X9 Thu's. Kirn 7823 

twiuwiW 3W up an 

P0RKM3JJES jCMBU 41XteKa.-cmcrtB. 

6BJH 37X0 Feb to 4200 4U0 41 JO 4102 -80* 8,128 

6000 3750 Mur 9S 4207 4275 4101 4285 -005 1057 

61.15 3S.9SMovto 43X0 4200 470S 4275 -407 314 

5400 37058495 4300 44X0 4300 4JJ0 -0X0 335 

4100 3575 Auo 95 4205 -085 77 

EiLBtas 1JOO Thu's. ufies 2,102 
Thu's open Int 10,111 up 41 


CEE) »JOBftb-a>e>nyft. 

Dec to 11100 tajD 17915 warn +uo nxoB 

7800 Mm 95 18625 10670 1*404 1*805 +200 1&236 

SJDMOV9S IRL73 I9U0 18700 19180 +1X0 5X45 

H80JU19S 19080 17100 13980 19275 +275 1060 

231110 1B55DSOP9S 19250 19380 1P0O 19100 +230 997 

8100 Dec 93 19250 19L5D 19050 19115 + 0X5 90S 

20280 19080 Mar 96 19625 19305 19305 lteJO t*05 126 

EsLscfes W69 1 Thirt.saies_«04O 
Thu's open M 33,266 air 151 

SUGAR-WORLD U (NCSEI HUB 

9.17 to to uii 1330 13.12 1119 +001101812 

1057 Mav9S 13.10 1301 mo 1300 +002 28,224 

1057JU)95 1 2M 1101 1196 llOi +08117.191 

1165 10J7Od95 1246 12-55 12X6 12J4 15 JIO 


Financial 

IKT.BAl-S «MBU nmnoo-mvipH. 

9610 962SDec94 9486 9459 9UX9 94J0 — O0S 17004 

K0S 9X99 Mar 95 9604 M06 9X05 9196 Zart loSl 

2K! 9la 9X61 93X6 93X8 -086 5,929 

93J7 93J0Sea95 9309 —008 2$ 

sates NA. Thu's. sate ixsj 
Wswnw 338M an sat 

IOK7T) 110080* arid. po a nwxwio 

O*c94100-30S 101-1* 100-215 WMI S— 09 17X609 
Ofllgffi to*S0D-125100-12S 100-02 100-02 — 09 8886 

TOMB 100-05 Junto *9-17 — 09 1 

Efl.Ptas na. Thu’LMtas 30812 
Thu's op ot Int 1*2.196 up 1006 

(Coon tHUOOprln-PIlAZmiBMgopii 
1M-2 SMS 5*4 94 99-31 100-00 99-06 *9-07 - 14 777.944 

]11-® W-M to95 99-01 99-01 98-16 98-1* — M 12JM 

JunM 9»-10 98-10 97-29 *7.29 - 14 102 

uts? 2^S 77-14 — 14 5 

110-31 99-iq Dec to *7-01 — 1« I 

ESLutaS NA. Thu’s, softs 77379 
Thu's open Ira 392m up 3129 

KT5 C 5?i? V JP w ? ,s npa-iioaxoftMAUisief Msaat 

UtS S'IS DflcW W* 27 W-M 96-07 - 19 384X07 1 

J1M0 96-61 Mar 95 964* 96-30 95-1* 95-19 — 19 30509 

JIMS / un,S TW» «-01 tswn - 18 ilS 

**-?! S««5 WJ0 95-02 94-1* 94-1* - 18 329 

113-14 M-l6 DOC to 94- IS *4-15 94-01 9401- 12 UJ 

!ii*9S S 4- * 1 M rt9*94-00 94-00 93-19 93-19 — 1* so 

100-20 94-02 Junto 91-19 93-20 *3-46 0-46— 15 25 

M. sate NA Thu'v^es *0,920 
Thu's aoeiH 42607* rtt 2JSI 

J*R*WALBONDS (CBOT) SiOOItelndn-Mi&QndiBliogpa 
2'li S'9 Dee94*2-J7 83-28 B2-tt 82-04 — » 20X08 
•Hl» W-W to9SIl-23 81-23 BD-» 80-27 - 23 1027 

gr.sate Na. Thu's, softs 9,126 
T tersopen ira smk up 412 

(CMBU SI iMIen-cM el US ad 

kbS S-?H !**■ 71900 -604i4ior 

958*0 WXUMtrto 93X9 9353D 9X38D 93X00 —704*09 

“S SfiS 92520 92840 -402414B3 

S'i5P ec,s ’^ WQ 9T320 *2000 9L220 -6Q1R.261 

M02O *0. 750 Mar 96 93,190 92020 7L100 93.120 -40I58.9BI 


COTTON 2 OMCTNI Wnta+arfmerb. 

2-?? 71X5 X49 X49 7107 

7J-15 6L5DMprH 7120 71X5 7105 7X21 

7855 6480 May 95 7400 74X0 74.15 7450 

^ K 

nS wjs JS 

ra. wte ban Thu's, seta *.!« 

ITVsopenlnf 54,938 oft 61 
HEATING OH- (NMER) 4ax*0«-emfc. wrote 
59-00 4600 Dec 94 51X5 51.90 5080 51 JB 

61H <U5JcitV5 5L05 5235 5105 515* 

SB^ 47.95 FftJ 95 52X5 52JO 5105 5201 

|| rss %% ms ss as 

SS “ SJS 

HX0 SjSHIoK SS 

5110 4*X55ep95 

50850095 ai< 

BLsotes 72.207 Thu's. softs 31,174 
•nersc poiira isi.iaa on xm 
uarrswBETCKOoe inmerj ix»bw^oo»«w 
mwi 14.73 Deeto 1982 19.1* 15.77 |«7i 

19.65 1515JanK 117D IBM 1947 BJI 

19X0 ISJBFebto 18X7 1*S !*S 1BJ1 

20.66 15X2 Mir to 1*00 1&4J Igjj 

l«XB 1555 Apr 95 1X20 1BJ* llw n« 

» liSffi 5 iSS SS {£ 

J9.w literSato 1 ®’ W 1l ” 

IBX* 17X0 Sap 95 1884 1*8* IB80 181 

9.17 16X20CT9S HUH 1*06 IU4 

^ SSSES SS IIS 

?& s 1119 11 " 18 - 1 * jjjj 

!*?? lafartf 1 " •« ^ » f 

__ „„Mayte 1802 1X32 1802 sew 

wS jJSSto ,ws 1435 ,us Jg 

WiLEAUaSOASOUtK (NM83) 4Xnort-M(n 
aaooe C« ^ 5900^ sKY 1 a S£ 

SSM 50.50 Jon 95 17® 57XS Uu Sm 

5U5 ST.lOFtej 95 5&XS U0O H50 54S 

520Oto93 56X0 56X8 ^25 um 

MJ0 5*JSAer9S «0J 5900 59* 

ag 56.00 May 95 SBX0 5830 JxS 

g ss H 

sg ssssg ^ — — g 

En. softs lUH 1> niuNK6es 26049 ffJM 
ThiTsopenait 6X735 off ia 

Stock Indexes 

SftPGOMP.MD&x (CMBH 

ETIBVBirH i 

NA. Thu's, softs 2X31 3SW 

Tfiu sopen pu 4.128 <ta 37 


Commodity indexes 

K? Jftr 

oj. Futures 
eofn-Heseordi 


-4.17 23071 
-088 16067 
-aiO 7,150 
— 0.13 4000 
-087 5,960 
-1185 2,954 
-0JB 


— 043 44035 

—02* M. TI 2 • 

— 033 21097 : 

—403 11002 
-023 7065 
— 023 4J97 " 

-023 6X66 - 

—023 6X6* 
-018 1,926 
-018 

— 0.18 1X00 i 


rbte. 

—014 * 4,992 
- 00 * 76013 
— 006 36.943 
—006 25 X 62 
- 08517 X 71 

-S.M W56 

(im 24540 
-002 12017 
-081 4024 
—081 l),*)i 
4841 
+001 0358 
+001 13048 
+001 70S 
+001 1034 
+001 
+tun 

+ 003 1*010 
+002 


r*te 

—0X3 30017 
— 0-20 T7.539 
6031 

+ 001 4,1*5 

+ 004 4007 
+084 1,916 
♦004 87* 

♦004 739 

+(WM 
+004 
—Ol* 

—0.18 

+004 40 


-6X8204075 
-045 15021 - 

-6X0 3XM .. 
-*00 7<| ,, 


HIS 3^* 

-3.15 158 

—115 44 

-IIS 14 


Previous 

UfilA) 

2.1OU0 

15ZW 

mn 


jJj l j* \£jO 





INTERNATIONAL HERALD TRIBUNE, SATURDAY -SUNDAY, NOVEMBER 5-6, 1994 


Page II 


EUROPE 






•ii».: "*■ :>> . 
-••ir.B l -i 




.■*. •• 




■'5r^ 


1. •- * 




Salt 


A.V. J 'f * 


Uiaaces 




-V 


Deutsche Telekom Sees 


ge5 



“lion Phone Profit 


FRANKFURT — Deutsche 
Bundespost Telekom, the state- 
o^ned idecommnmcations and 
postal company, said Friday it 
ocp^ted pretax profit at its 
tefecdnnnnnications division to 
reach -6 hOhon Deutsche 
($4ibiDion) next year on rcve- 
nueof 69 billion DM. 

" Deutsche Telekom is one of 
three independent companies 
to be created oat of Deutsche 
■Bnndespost Telekom in Janu- 
ary. Its shares are due to be sold 
to the public in 1996. 

.. Revenue for 1994 is expected 
to b*64 biffion DM, the compa- 
ny said in a statement released 


the European telccomm nmr.fi . 
tions market w 



•The board set a goal of sales 
of 80 billiou DM by 2000 
through the use of new technol- 
ogy. Most analysts said the 
forecast was probably realistic. 

Others said the company was 
not expecting business to leap if 


mao — T-” was liberalized in 
. m “ne with European 
Union legislation. 

“There’s been a lot of talk 
about liberalization, but when 
push comes to shove, some 
countries are more ready than 
others to open their mar kets.” 
said Judith Stewart, an analyst 
at Greig Middleton & Co. in 
London. “I think they are 
bound to lose a little market 
share, but not that much.” 

Of the 6 billion DM expected 
in pretax profit in 1995, half 
wilf be paid to the government 

But net profit will still be higher 
than in 1994, the company said, 
without giving figures. 

Deutsche Telekom will in- 
crease its borrowing to 122 bil- 
lion DM in 1995 from an esti- 
mated 116.5 billion DM this 
year. At the same time, the com- 
pany’ s debt-to-equity ratio will 
fall below 20 percent 

It wQl also continue with 


cost-cutting measures, includ- 
ing cutting staff by about 6,000, 
to 224,000. (Bloomberg, AFX) 

■ Viag Names a New Chief 

Viag AG, a German utility 
concern, appointed a new chief 
executive and predicted a “sig- 
nificant rise" in 1994 and 1995 
earnings, driven by belter per- 
formance in all business areas, 
news agencies reported. 

Chief Financial Officer 
Georg Obermeier will succeed 
Alfred Pfeiffer in August A 
spokesman said Viag’s supervi- 
sory board decided on the re- 
placement Thursday night. 

At a news conference, the 
company said profit through 
the first three quarters of this 
year was “clearly better” than 
in the same period Last year, but 
it provided no specific figure. It 
said sales should exceed 30 bil- 
lion DM. 

Last year, Viag’s net profit 
slipped 19 percent to 302 mil- 
lion DM. ( Bloomberg, AFX) 


Government Bows 
To Bonk of Italy 
On Appointment 


r 


Panel Rejects 
SuddenSkift 
To Use of Ecu 


Rexam 


BRUSSELS — A “big 
bang” switch to a single Eu- 
ropean Union currency is 
out of the question, but the 
changeover must be as 
short as possible, a commit- 
tee set up by the European. 
Commission said Friday. 

The committee, set up in 
September under the chair- 
manship of Cees Maas of 
the Netherlands, is study- 
ing barriers to wider use of 
the Ecu and its eventual in- 
troduction as the sole Euro- 
pean Union currency. 

The advisory panel said 
introduction of the Ecu as a 
currency was possible by 
2000 in some EU member 
states. But it said the intro- 
duction of Ecu notes and 
coins would need to take 
place within six months of 
the time that participating 
countries set their currency 
exchange rates. 


Lonrho Shares Rise 8 % 
After Founder Leaves 


Condoled by Our Staff From Dispatches 

LONDON — Shares of Lonrho PLC surged more than 8 


percent Friday as major investors bought into the international 
* J * congfc 


trading conglomerate after the resignation Thursday of its 
founder, Roland “Tiny” Rowland. 

Speculative and mining funds were buying sharps, analysts said, 
in the belief that Lonrfao’s assets, particularly its gold and plati- 
num mines in Africa, were greatly undervalued. 

But as institutions moved in, investors loyal to Mr. Rowland 
fled, concerned that the company be had built on African trade 
would lose direction under the German real estate financier Dieter 
Bock. 

“Those small shareholders who bought it as a penny stock in the 
1960s have made a lot of money,” John Sou ter, an analyst at Smith 
New Court, said. 

Lonrho shares closed at 143.5 pence ($2.32), up 1 !. with more 
than 12 times the average number of shares trading hands. 

While a number of big blocks of shares, as big as 1 million, 
changed hands, most trades were for fewer than 10,000 shares, 
with several parcels of fewer than 1,000 being sold. 

“Troy’s resignation is clearly good news,” Ian HilHker, an 
analyst at Natwest Markets brokerage, said. “It gives Bock a free 
non. I think there’s a good chance some of the platinum assets and 
African operations will be floated off to establish a value.” 

Others said the company might suffer without its founder and 
his personal influence m its African operations. 

“Tiny, using all sorts of methods, including befriending African 
presidents, ensured that his businesses grew and flourished,” a 
senior executive of a British company in Zimbabwe said 

(Bloombergs Reiners) 


Reuters 

ROME — The center-right 
government gave up Friday 
on its attempt to impose its 
will on the Bank or Italy over 
a key job, but tough battles 
over the central bank's future 
still lie ahead. 

The cabinet of Prime 
Minister Silvio Berlusconi 
reluctantly rubber-stamped 
the central bank’s choice, 
Vincenzo Desario, for direc- 
tor-general, ending a six- 
month struggle. 

“The cabinet has ap- 
proved the nomination ” a 
spokesman for Mr. Berlus- 
coni said 

The government wanted 
an outsider for the post, but 
the bank insisted on Mr. De- 
sario, a career central banker, 
for its No. 2 position. 

Accepting defeat, Mr. 
Berlusconi said the govern- 
ment feared a prolonged 
struggle would hurt the 
country’s already shaky fi- 
nancial markets. 

But once the dust settles, 
economists said they expect- 
ed the government to return 
to the offensive with propos- 
als to reform the central 
bank, including placing lim- 
its on the governor's tenure. 

“The struggle is going to 
be relaunched It is a matter 
of when,” said Mario Noera, 
an economist with Deutsche 
Bank. 

l-«irjing members of the 
governing allian ce have fre- 
quently said there was a need 
to review a system that al- 
lowed the governor of the 
central bank to r emain at his 
post until retirement. 

“We believe firmly in the 
bank’s independence, but we 
could agree to chang in g the 
}'ob for life,’” said Gian- 
maria Galimberti, a spokes- 
man for the Northern 
League, one of the three main 
pillars of the ruling coalition. 

But Mr. Galimberti said 
the league would insist on the 
governor’s term r unning for 
longer than the five-year life 
of a Parliament, to reinforce 
the notion of independence. 


Economists said some re- 
form ideas might be reason- 
able, among them giving the 
bank’s watchdog role over 
the banking system to a sep- 
arate body, leaving it free to 
concentrate on monetaiy 
policy. 

But there is the danger 
that markets will see any at- 
tempt to tink er with the 
rules as a threat to the 
bank’s autonomy. 

The Bank of Italy has long 
been a rode of stability in 
Italy's turbulent political and 


The straggle is 
going to be 
relaunched. It 
Is a matter of 
when.’ 

A Deutsche Bank 


economist 


financial scene, and financial 
markets feared the battle 
over the deputy governorship 
masked a desire for greater 
political influence. 

“Even if you do the right 
thing, if you do it at the 
wrong time, the effects can 
be equally damaging,” a se- 
nior economist at a Milan 
hank said. 


Mr. Noera said he 
thought international inves- 
tors could accept a reduced 
tenure for the governor, pro- 
vided it was twinned with 
another idea, often floated 
in the pages of national 
newspapers, of giving the 
bank the exclusive goal of 
preventing inflation along 
the lines of the Bundesbank. 


But whatever line the gov- 
ernment takes, it is not going 
to move too soon. The finan- 
cial uncertainty generated 
by parliamentary battles 
over the budget, with the lira 
still hovering close to record 
lows against the Deutsche 
mark, precludes haste. 


Bowater 
Plans Sales 
In Australia 


Reuters 

LONDON — Bowater PLC 
said Friday it was selling its 
tissue and timber business in 
Australia as part of its drive to 
focus on its core printing and 
packaging sectors. 

The company said it had 
agreed to sell its tissue, pulp 
and wood products businesses 
to Carter Holt Harvey Ltd. of 
New Zealand for about £159 
million (S257 million). 

The sale includes its Deeko 
disposable tableware unit and a 
50 percent stake in Sancelia 
Pty„ its joint venture in the 
feminine-hygiene business with 
Molnlycke AB of Sweden. 

Bowater also said it was con- 
sidering an Australian stock 
listing for its manufacturing op- 
erations. Bob Bird, a spokes- 
man for Bowater, said plans for 
the listing of the unit, which 
mainly distributes and fits die- 
sel engines, were still in the con- 
ceptual stages. 

Bowater has been cutting 
away its peripheral businesses 
for some time. It now owns a 
number of food, beverage, med- 
ical and cosmetics packaging 
businesses and paper and secu- 
rity printing operations in Eu- 
rope. the United States, Austra- 
lia and Asia. 

In September, the company 
reported a half-year pretax 
profit of £105 milli on. 


Investor’s Europe 


Frankfurt 

DAX • 


London. Ports..; 

FTSE 100 Index CAC 40 



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: 7 i 1l44i::.Av7,1^54 ii -/^«s: 

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2*06736.. .-2,051 

Frankfurt 

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780.61 : : - ; .77 v :*m 

Helsinki ■ 

•h£x /•' 

iMAM. 

London . 

Financial Times 30 

2,373 JO0 2*374-70. . 

Ltindttn 

FTSE 100 

3»QS7J60. V 

Madrid.' 

..General index.:.. 

296-82 ' ,..-293-« 

.Milan ' . . • 

MIBTEL - • • , • 

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Parto.' 

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1,931.85 ... 1113" 

Stockholm 

Affaersvaertden 

‘*34549 1,849.7? ■ 

taenrih • 

Stock Index ■ 

42&3S 

‘Zurich. 

SBS ■: 

306.17': -902.40 

Sources. 1 Reuters. AFP 

Iitfcmaiianal 1 krald Tribone 

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s for 


Renault Offer 
Is Oversubscribed 


Compiled by Our Staff From Dispatches 

PARIS — Institutional inves- 
tors ordered 15.5 times the num- 
ber of Renault SA shares set 
aside for them, the French Eco- 
nomics Ministry said Friday. 

Institutions ordered far more 
than the 24.7 million shares 
they were offered in the car and 
truck manufacturer at 176 
francs ($34) each. 

The stock sale was opened to 
private investors Thursday and 
will run through next Thursday. 
Each share will cost individuals 
165 francs. 

The state is reducing its stake 
in Renault to 50.1 percent from 
79 percent through the public 
sale and a 2 billion Trane capital 
increase. (AFX, Bloomberg) 


m Pmault-Printemps SA said sales rose 6.4 percent to 15.91 billion 
French francs (S3 billion) in the third quarter. For the first nine 
months, sales rose to 47.48 billion francs from 45.84 billion. 

• UNI Storebrand AS said its operating profit for the first nine 
months feD to 1.45 billion kroner ($219 million) from 3.83 billion 
kroner a year earlier. 

• Forte PLC said it would raise £175 million ($282 million) by 
selling shares to finan ce the acquisition of an 80 percent slake in 
French luxury hotel chain Societe des Hdtels Meridiem 

• Air France shares were suspended from trading on the over-the- 
counter market on Friday pending an announcement about proce- 
dures for recapitalization of the airline; only 0.13 percent of the 
company’s capital is traded. 

• Unilever Group, the British-Dutch consumer-products conglom- 
erate, said it acquired ad the shares of Mora Group, a Dutch snack 
maker, it did not disclose the price. 

• Hoedhst Sobering AgrEvo GmbH, the agrochemical joint venture 
of Hoechst AG and Sobering AG, said it would achieve a return of 
about 8 percent this year on sales of 3.4 billion Deutsche marks 
($234 billion). That would translate into 1994 pretax profit of 
about 272 million DM 

• Swiss Reinsurance said it expected a “good” result in its 
reinsurance business and a “clearly positive” result f or its primary 
insurance business in 1994. 

• Compogaie Union des Assurances de Paris will not meet its target 
of a 33 percent rise in profit for 1994. Jacques Friedmann, the 
company’s chairman, said. 

• Bunzretszer & Wain Holding AS, a Danish shipbuilding and 
shipping concern, said it expected to post losses for 1994 and 1995 
and agreed with Kockums AB of Sweden to sketch out a strategic 
alliance over the next four weeks. 


• McDonnell Douglas Corp. and Alenla, the aerospace division of 
Finmeccanica SpA, agreed that Alenia would make the fuselage 
for the proposed MD-95 jetliner. BlrnMiberg. AFP. AFX. Reusers 


NYSE 


HrttJ Lc*»lx*sJCh' 9 e 


Tables include the nationwide prices up to 
the dosing on WaB Street and do not reflect 
late trades elsewhere. Via -The Associated Press 





Continued on Page 12 


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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, NOVEMBER 5-6, 1994 


Page 15 


ASIA/PACIFIC ge_s 


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s Surplus 

.7% in 


It^test 6 Months 


7T0KYO — The current- ac- 
- coma , surplus shrank 0.7 per- 
cent m ine six months ended 
Sept 30, the Finance Ministry 
sakl Friday. 

>TS® surplus in the current ac- 
count '— the widest measure of 
trade in goods and service — 
was '$62.92 billion. The six- 
month decline was the second 
xepcotcd this year— the surplus 
contracted 2.6 percent in the six 
months ended March 31. 

’■The newest decline was even 
greater in yen terms, with the 
surplus falling 6.8 percent The 
strong yen inflates the dollar 
valseof exports. 

The l2 percent growth in Ja- 
pan's inserts exceeded the 8 
percent nsc in exports. 

Imports of care surged 33 
. percent in the six months, while 
gbmcdndixctor imports were up 
% percent. Imports of clothing 
rose .19 percent, and those of 
machinery gained 14 percent. 

• The decline came despite a 
22 percent increase in the mer- 


chandise trade surplus from a 
year earlier, to $7222 billion. 

But Japan’s invisible trade 
deficit, measuring such services 
as tourism and shipping, wid- 
ened 41 percent, to $6 billion. 

In September alone, the cur- 
rent-account surplus fed 1 1 per- 
cent from September 1993, to 
$11.63 billion. In yen terms, it 
fell 16.7 percent. 

“Imports from Asian nations 
such as China continued grow- 
ing, while goods from Europe 
are increasing on the back of a 
stronger yen,” a ministry offi- 
cial said. “In addition to ex- 
change rates, corporate efforts 
m cutting prices also helped 
boost imparts.” 

Despite the strong growth in 
imports, economists said, ro- 
bust exports to the United 
States and Asia were retarding 
the decline in the surplus. 

“The pace of decline will be 
slower than we originally 
thought,” Tetsuro Sano, an 
economist at Nikko Research 
Center, said. 

(Reuters, AFP, AP) 


China Airs Piracy Case 

Internal Complaint Gives West Hope 


Reuters 

BEIJING — Foreign companies bat 
theft of intellectual property in China saic 
Friday an infringement suit by 11 Chinese 
writers heralded the arrival of a new ally in 
the war on piracy — Chinese victims them- 
selves. 

“This is going to help all copyright owners in 
China, whether they arc foreign or Chinese,” a 
spokesman for Walt Disney Co. said. 

The official China Daily said 11 Chinese 
writers had banded together to sue Jilin Uni- 
versity Publishing House, which is state- 
owned, and one of its editors. Yuan Ye. 

The writers alleged that Mr. Yuan pub- 
lished nearly 100 of their writings in a 10- 
book collection called “Children's Series" — 
all without their knowledge or consent. 

They arc seeking an injunction against the 
publisher, an apology and unspecified finan- 
cial compensation. 

China is under a Dec. 31 deadline to resolve 
concerns over what U.S. Trade Representa- 
tive Mickey Kan lor last s umme r called “ram- 
pant” violations of American intellectual 
property rights. 

Washington has placed China on the so- 
called Special 301 watch list of countries that 
tolerate theft of copyrights, patents and 
trademarks and has threatened to impose 
$800 milli on in retaliatory sanctions — the 
estimated extent of U.S. losses. 

Western companies have said they hope the 


U.S. pressure will prod China to improve 
intellectual property protections. 

S.M. Lee, manager of the Beijing office of 
Lotus Development Corp., said that company 
was “really hoping to form alliances with 
aggrieved parties here in China — people 
who’ve suffered losses due to theft of their 
ideas by their own countrymen.” 

Observers credit China with working rapid- 
ly to raise its laws to world standards but say 
the few intellectual property courts formed in 
recem years have yet to inflict serious penal- 
ties on Chinese violators. 

A suit by Walt Disney, the world’s biggest 
copyright owner, against three Beijing com- 
panies is being closely watched. 

A local court agreed that the companies 
had misappropriated Mickey Mouse and oth- 
er cartoon characters and is attempting lo 
determine the extent of Disney’s losses. 

*T expect that things will come to a head 
very quickly now, what with the Special 301 
clou ticking,” the Disney spokesman said. 

“The laws are all on the books, but the 
penalties typically have had no teeth,” he 
added. The spokesman said Disney and other 
large American companies could not make 
tmyor investments in China until they were 
satisfied that piracy would not be tolerated. 

“One recent police raid on a factory mak- 
ing pirated videodisks turned up illegal copies 
of our movie The Lion King/ ” the spokes- 
man stud. “Come on. We haven’t even re- 
leased The Lion Kong’ on videotape.” 


Speculators 
Subdued in 



Reuten 


SHANGHAI — Vendors of 
st ode-market tip sheets van- 
ished from brokerages in 
Shanghai on Friday after au- 
thorities clamped controls on 
securities information. 

Regulations announced 
Thursday to reduce rumor-driv- 
en speculation on China’s stock 
markets cover everything from 
radio and television to beeper 
services and databases. The 
rules determine who can dis- 
seminate information and in 
what form. 

A senior editor at a leading 
Chinese stock-market newspa- 
per said he believed the elec- 
tronic media were forbidden 
from reporting anything but 
simple price data. 

But the editor, like many Chi- 
nese brokers and investors, wel- 
comed the move. He said the 
securities information industry 
was out of control 

The effect of the clampdown 
will be to concentrate the power 
of information even further in 
the hands of China’s two main 
stock market newspapers — the 
Shanghai Securities News and 
the China Securities newspaper. 

Both are attached to Oima’s 
official Xinh ua news agency. 


Investor’s Asia 






SSilte; 



■AV 




Sources: Reuters, AFP 


bnrnaimBBl Herald Tribute 


Very briefly: 


China Failing to Sway U.S. in GATT Entry Dispute 


By Peter Behr 

Washington Post Service 

WASHINGTON — For the second 
time in a year, China is trying to use its 
booming economy as a lure to turn US. 
government policy in its favor — but 
this time without much success so far. 

Washington is blocking China’s bid for 
membership in the General Agreement 
oo .Tariffs and Trade until Beijing dem- 
onstrates it will live by the world trade 
body’s rules. China has not been a mem- 
ber of GATT since the Communists 

S *?he assistanflL& trade t repre$enta- 
tive, Dorothy Dwoskin, said this week 
that it would take a “pretty big” miracle 


to overcome U.S. reservations about 
Chinese membership soon. 

The issue “has come up in every meet- 
ing” with a Chinese trade mission that 
arrived in Washington this week, a U.S. 
official said. 

The delegation of more than J00 offi- 
cials and business leaders, led by Depu- 
ty Prime Minister li Lanqing, is offering 
billions o£ dollars wrath of business to 
U.S. companies to help expand China’s 
telecommunications and transportation 
networks. 

China got its way when President Bill 
Clinton about six months ago reversed a 
U-SjpoJky of Unking the continuation 
of China's preferential trade privileges 


with specific improvements in its bu- 
man-nghts record. 

But so far, Mr. Clinton has held firm 
against China’s demands for quick action 
on its GATT membership application. 

“At this moment in our talks, our 
most important negotiating adversary is 
the United States,” Long Yongtu, Chi- 
na’s assistant minister of foreign trade 
and economic cooperation, was quoted 
by Reuters as saying in Beijing. 

One difference is that, in contrast to 
the debate over China's trade status, 
Beijing does not have the support of 
American business on the GATT issue. 


U.S. government and business leaders 
alike are concerned by America’s large 
and growing trade deficit with China, 
which widened to S14 billion in the first 
seven months of this year from $1 1 bil- 
lion a year earlier. 

At a minimum, said Gregory J. Mat- 
tel, author of a report on China’s mem- 
bership application, Beijing must agree 
to honor Sasic GATT principles requir- 
ing that its quotas and other trade re- 
strictions be published, that foreign 
countries not be discriminated against 
in favor of Chinese companies and that 
it b egin to take convincing action 
agains t piracy of foreign videos, films 
and other intellectual property. 


PT Astra Profit 
Rises Sharply 

Reuters 

JAKARTA — PT Astra 
International on Friday re- 
ported impressive eight- 
month results propelled by 
strong car sales. 

Astra reported profit erf 
163.70 billion rupiah ($75 
million) for the period. Its 
1993 consolidated net prof- 
it was 13237 billion rupiah. 

The report was unusual, 
as Indonesia requires com- 
panies only to disclose six- 
month and yearly results. 


• Vietnam is hoping to triple the rate of foreign investment in its 
market economy, attracting $ 15 billion by the turn of the century. 
Dan Ngoc Xuan, chair man of the State Committee for Coopera- 
tion and Investment, said. 

• PtriEppine consumer Inflation fell to a 13-month low of 7.8 
percent in October on an annualized basis, slowing from 8.6 
percent in September, the government said. 

• KarweO Indonesia PT, a textile and garment producer, plans to 
go public by offering 20 million shares, or almost 31 percent of its 
enlarged share capital in December, the company said. 

• China accused foreign investors of cheating by overvaluing the 
machinery and equipment they put into joint ventures instead of 
cash, the Xinhua news agency reported 

• Ziff-Davis Pubfidting Inc. plans to publish Chinese editions of 
PC Magazine and PC Computing to capitalize on that country’s 
growing personal computer market. 

• Chi Mei Corp^ a Chinese petrochemical company, will spend 
$30.87 million to build a 200-beciare (500-acre) plant in Taiwan. 

• Vietnam exported $400 milli on of textiles and clothing in the 
first nine months of this year, compared with $360 million in all of 
1993. the Vie tnam News Agency reported. 

a China plans to refund some taxes paid by stale-owned businesses 
to help the companies build up their working capital Chen 
Qingtai, deputy minister of the State Economic and Trade Com- 
mission, said AFP. Reuters. AP 


JAPAN : American Companies Are Increasingly Turning Their Backs to Japan as They Look to More Lucrative Markets Elsewhere 


Continued from Page 9 

dqfor Japan “remains very broad and very 
filamdable.” But . Japan, he added, is no 
longer the sole focus of attention. 

“It’s dear also that the stakes elsewhere 
in Asia are growing,” Mr. Garten said in 
an interview. .^We have to find a way to 
focus not drily on Japan but particularly 
on big emerging markets in Asia.” 

The Cknomerce ^Departxnentrecently be- 
gan trying to promote U.S. exports to IB 
such emerging markets, indnefing China 
and Indonesia, but not Japan. 

Yet all this has happened as the rise in 
the yen and the deregulation starting to 
occur in Japan could give U.S. and other 
foreign companies a better chance than 
ever to sell their -products in the world’s 
second-largest market 
To be sure, many UJS. companies are 
not forsaking - Japan. Some prominent 


companies are making a greater effort than 
ever. 

Ford Motor Co. and Chrysler Corp. are 
experiencing rapid growth in Japanese 
sales after cutting prices and starting to 
make cars for Japan with the steering 
wheel on the right side. General Motors 
Corp. is also stepping up its effort to sell 
can arid parts. 

Compaq Computer Crap, and Dell 
Computer Coip. have surged into the Jap- 
anese market by offering lower prices than 
local competitors such as NEC Corp. or 
Figitsu Ltd. Semiconductor companies 
have seen their market share grow. 

Companies such as Toys ’R’ Us Ino, 
Lands’ End Inc. and LX. Bean Inc. are 
making Japanese consumers more recep- 
tive to new forms of retailing,, such as mail- 
order and giant discount stores. 

Many U.S. automotive and electronics 
executives say that being able to compete 


in Japan, the world's most demanding 
market, is essential to global competitive- 
ness. 

They say they must compete in Japan to 
deny Japanese companies a monopoly in 
their home market, which can produce 
profits to finance expansion abroad 

Some industry executives sav it is only’ 
natural to pay attention to the fast-grow- 
ing markets in China and Southeast Asia, 
but they say this does not diminish their 
interest in Japan. 

“If you have another child, is the first 
child less important?" said R-K. Morris, 
senior policy director fra international 
trade at the National Association of Man- 
ufacturers, a Washington-based trade 
group. 

But financial and political resources are 
limited, so efforts in other markets can 
mean diminishe d efforts in Japan. 

Nynex Corp., a New York-based tele- 


communications company, has put on 
hold its plans to provide advanced cable 
television services in Japan. The Nynex 
executive who had been stationed in To- 
kyo has been moved ro Hong Kong and 
given broader responsibilities. 

Some financial services companies such 
as CS First Boston Group Inc., Merrill 
Lynch & Co. and BankAmerica Corp. 
have moved their Asian headquarters from 
Tokyo to Hong Kong. 

A.T. Kearney Inc. a consulting firm, 
recently conducted a survey, not yet re- 
leased, on the investment intentions of 1 30 
large American and European companies 
that operate in Japan. 

“Their management’s focus has radical- 
ly shifted away from Japan and toward 
China,” said Joseph L. Raudabaugh, head 
of the Japan office of Kearney. 

These are some of the the other indica- 
tors of a declining interest in Japan, 


prompted in part by the yen’s rise against 
the dollar: 

• Direct U.S. investment in Japan, in 
which an American company buys a Japa- 
nese company or builds a factory or sales 
operation, is down. In the year ended in 
March, there were 317 cases of U.S. direct 
investment totaling $930 million, accord- 
ing to the Japan External Trade Organiza- 
tion. That was down from 363 cases valued 
at $1.3 bilHon a year earlier and not even 
half the 727 cases in the vear ended in 
March 1990. 

• The number of U.S. electronics com- 
panies setting up in Japan declined from a 
peak of 48 in 1991 to 25 in 1993, according 
to the American Electronics Association. 

• Some U.S. business publications are 
cutting back in Japan. Fortune magazine 
cut back its Tokyo bureau this year. 
Forbes, which had two reporters in Tokyo 
in 1992, has moved one to Hong Kong. 


The number of U.S. companies listing 
their stock on the Tokyo Stock exchange 
has declined to 49 from a peak of 72 in 
1990. 

The number of Americans in Japan also 
appears to be declining — although that 
does not necessarily mean that U.S. com- 
panies are losing interest. 

In some cases, the high yen has made it 
expensive lo station Americans in Japan, 
so companies are replacing them with Jap- 
anese executives. International Business 
Machines Corp.. Eastman Kodak Co. and 
Digital Equipment Corp. have reduced 
their Japanese work forces because of 
overall business problems. 

The construction industry is one in 
which companies have abandoned Japan. 
Morrison Knudsen Corp. and Guy F. At- 
kinson Co. are two U.S. construction com- 
panies that have not renewed their licenses 
in Japan. 


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4ltTMN*riOKkl MOVI«l 


FOB A FfflS ESTIMATE CAU. 


44 

MKSTBOMM 3T 
ATHB4S 30 

BARCELONA 34 
HUM * 
■0NN • 

WWW • 
nmssBS 32 
CADIZ 34 

HWtWUKr 49 
Q8CVA 41 
GLASGOW 44 
IflMWN 44 
MAMH D 34 
MANCHBim « 
MUNOt £ 
PAWS 33 

WBMA G 
VICENZA » 
ZUMCH 41 
DUBAI 971 

ATLANTA 1 
WASHM6F0N 1 


R zn 070 

8993 24 

ni nil 

652 31 M 
23SS400 
llj 59 920 
II 17 05*1 
7592285 
85 vr 44 
10 } 2001 
343 85 30 
7424667 
Ml 41 41 
671 2450 
877 51 00 
1415034 
3*201400 
865 4706 
S i 52 31 87 
1 945 04 00 
31 »30 

8 49713 37 
620 41)9 


EASIBNBMOK 


a&ORAQE 38 
BUOiAXEST 40 
aUMPBT 36 
MOSCOW 7 

HAGUE 42 

WAKAW 48 


031 




45 35 94 
211 82 U 
277 28 77 
2241100 
301 7239 
40 M 87 


ONE NAME. ONI COMPANY 


bxnsge, coo wetirfwida. CdOwte 

SaWc 81 18 01 |«*r CW 


NANNIES AND DOMESTICS 


/ Monroe n 

Nannies 

feTERMATONAL 


• *n5s9YJ^ES 
•gotbnesses 

fat Of king ton eonmeh 

v&ssssh 

Utl 

PQStnONS AVAILABLE 


MANNY* 
far 


a «4IN<»At 


cssttestex 

fcafott* W6U&473I or of* 
fa 37ft IKT.92S7I Nm«y C*kr. 


"4 mr 


_fpn Wtw Tart m 


assi’&ftK 


USA 


POSITIONS WANTED 


DOMBsncspumcieMWCY 

The! 



l« yT*q nml AIM f UWWO 



BunaftCh* 

vetted. Hu#dw»0J\s 

— tic. SE227D0) 

7i 235 am- 

Srt&W tjMWwnfflto. wft- 
17 £020 tanshniA Ausm 



USUN LMT ip«*«ig fijgfaj * 

' IS^SksISSS 


ANNOUNCEMENTS 


Attention visitors 
from the U.S. ! 



If you enjoy rending the HI 
when yog travel, why not 
also gen it d home ? 
Same-day delivery available 
m key U$. dies. 

Cdl (]} 800 8822U4 

(fa NmrTMc edi 212 752 3890) 

ftrnilb2*£ribunc 


"sssjtatM 


mt4G tort — tanta* . 

SOS HBP J 

. 1 1 pjtl TefcPora fll 47 23 80 50- 


I emo 


CAPITAL AVAILABLE 


FUNDS AVAEABIE 

FQR 

6UBUSMSSMMCT5 

ORKS^ 

LFfTEtS OF CRHXT 
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QTHS ACGPWBLE COUATHM 

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IMPORTVEXPORT 


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t hroo^ wqx lgpi 


deSnuy n 90 dnyi kMff- 

b at S19 JOQ. M ptotoaon 

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Inc Fen I 


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Ugd 2nd Tml Docoamnt, D^fa- 
niatK Appouttncnb. BcoItoq. Adive 
Pramoton, POBo* 30, OUlSO Boor/ 
Zng. SwUnriond Fro +4142332342 


2nd T1AVH. DOCUMBTC. Driving t 

awan. GM, 2 Itodjcous, V 6 t*c wim ». 
Athem IfiWl. Gc— oe. Fas 8962152 


0H5MXE COMPARES, far fa* 
brodwra or odrien Tet London 
44 81 741 1224 Fbu 44 81 748 655B 


BUSINESS SERVICES 


Save on 
Internationai 
Phone Calls 

5cm 50% ml mom compared 
Cafl from 

cv«n HoMb faod amd 
unfrargB). Obdc aw roes 
for any cowries and see hew 
yon condor! soring todojr. 

CcA vs now and w»H 

all you right back! 

Tel 1-^)6-284-8600 
Fax 1-206-282-6666 

Lina open 24 bout. 

fallback 


419 SecDnd Men Wed 
SeoftWA 98119 U5A 


ROR5SH3NAL PSHBflAIIOW 

UBaoar m London 

(FAX) +44 171 837 819a 


REAL ESTATE 
FOR SALE 


HOLLAND 


MONUMENT CENTEX AMSTBHMM 
Monumental and heuical 17th artay 
Canal hoae, located near earner Am- 
aeUCef»grad4. The hoow indudes w 
tetanaJ 477 afA fladn bderior ai 
fas cand home is in arifpnd tetarkni 

Wt*S66W0a 

001 ZAA 


FOB 18149, 1001 

or toe +31-20.6384490. 


PARIS & SUBURBS 


BOULOGNE BOB 

Hguso, eniirdy wmtScd, 6 roam^ 

2 bethrooaa, fitted baiemML writer 
garden, veranda, gorm. 2D0 mm. 
garden. F7M. OvmwTrfl-46 05 W48 


AVEPfflSElttDESBWE 

NEAR CHAMPS BYS85 
250 gy m . ■ To b« renmated. 


huh’daq, bp Hour. 
Tut (1) 45 74 1 


AS 40 (ULI) 


REAL ESTATE 
TO RENT/SHARE 


PARIS AREA UNFURNISHED 


MARLY If Ul VUIAOE . foneweded 
4 roans, wttnft jw iwi to- 
Own* +39161349 


PARIS AREA FURNISHED 


PARIS 

74 CHAW5 BLYSS5 
“OAnDGE 1 * 

High daz, roody to ase ffab 
frny Kpamd and frnmhed. 
for Knit by the dqy, week or n 
,ll3333. rat 1-42 


Tul 1-44.13 


1-422UA88 


LHT BAM AMRTMBIIS _ 

wceUy, maaNy, no agency fc&. Tat 

Jeon^idtomcigagfa 43545798 

PA55T (164l) - Owtaing 24wfroom 
flat 70 sun. Rradoce. ff 6JVL Free 
now. Tut owtwr til 42-3466-13. 


ISA, FHDt WJS. vtodd 


FRENCH RIVIERA 


MAR CANNES, taanioui via, ,60008 
Moat mountain news, 8 bedroom,, 
3 reception*, smmnuig goot^wm, 


IK ha 
9297 


_ to real or 
02 Fee fan 1-0 10 93 59. 


MCE - PORT AREA, to re* for 6 
I bedroom + frwtg roam 
kitchen + 30 sqm. terrace 
. ...l new. Ttfofa fumohed. 
FUXn/ma TuIOmmt (33932664 14 


EMPLOYMENT 


GENERAL POSITIONS 
AVAILABLE 


MPL HEALTH Irmnace Afanrirotor 
it Fans wh Amerian, preferably 
with msdaal bacharaund to mule 


daria, negglnte eat* «uh US pro 
riden, perform refatad faidiorti. 
French work papn & praficcncy in 


French are 
59 rue de 


papn ft proncency 
.CVtaEBA.fepLF, 
l 75009 Pan*. 


AUTO SHIPPING 


SAVE ON CAB SMPFMG. AMBC0, 


Xhbbesir 7. Artwmp Beteusn. To/ horn 
US. Africn. Eeajjor Soffit win. Fro* 
hotel TI 3273/231-4239 F* 232*53 


AUTOS TAX FREE 


1RAN5CO BELGAJM 

The largest av export conpany 
in Birape for fat past 20 years. 
AI mains and modefc. 

I sdesregatrafian 


Eurapean, 


&Ul! 


Trtnsco, 51 Vosse-Klrireti, 
2000 Antwerp Bel n»n° 

Teh 037542^^L ^50^8.97. 
SbTsXS’ T rans ft 


new TAX-RS end 
ALL IEADMG MAKES 

Some day reg fa tii an posable 
renewable up to 5 yean 
We oho regaer oars with 
(expired) farei^i pakfiwj ptots 

KZKOVTT5 

Aired Esther Street 10, CH8Q27 Zurich 
Tet 01/202 76 10 Telex: B15915. 
Ftnu 01/202 76 30 


OCEANWDE MOTORS 

Since 1972 brokers far Merced es , BMW, 
facto. GM ft ford Worldwide 
dtfivery. regHrarion ft shipment 

OCM-GERMANY 

Tenteendr 2 W8474 Duetsddorf 
MBS 211 -434M6, fa 4542120 


AIK WOBUmnOE TAX RS CAK5- 

Export + shipping + regstrrtion of 

nSTft iwd an. ATK N^Torwiddei 
2930 Bnnchact, Befann. Phone 
6455002. Tetoc: 3153* fa P) 
09.ATK. tnce 1 959. 


QCYSia WH BT 10, rod, demon- 

straeon as. ]$OQ las, from offiad 
Ovyder dealer in Bdgwm.. fore sp» 
■ In free. Import tax pad into tC 
USS MflOO. tS( 32) 6571 36 86. fa 
S3 «72 35 57. 


LOW COST FLIGHTS 


ACCESS VOYAGES 

TW BEST FARES TO 
THE UMIED STATES 

and over 500 more de dno i icws world- 
wide on 40 dnerent scheduled cxvrien. 

Tet PASS 1-40 13 02 02 or 42 21 46 94 
fa 1-42 21 44 20 
MNTH, 3615 ACCSSYOYAGS 
TetLYON 78 63 67 77 or 72 56 15 95 

BOOK NOW by phone withered^ card 
G overnm en t licence: 175111 


WORD AVIATION - 5CHEDULH) 
HiGHIS. 1st badness, economy o f 
lowest fores, id BT Pbris HI 47046751 


ARTS 


COMS MEMMAWT, MOWr ft own 
wort. Dutch pastor often espies of 
p ee de m , signed ft own wort nfaxa- 
fere ft ob riroA Info: AJ. Hanerinq, 
Amsserdeai NT, tel/ fa* +31-26- 
676 8284 


PK-CCAUMBAN AKT 
GMBC Hl-MBXA. Sctorobpr. 82 
070193 SbHgart, fa+49711634913 


FRIENDSHIPS 


FREE 

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0 pen 24 nrs. every day) 

US. Tell -407-676-9500 

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COBPOSATE plans AVAlABLf 


104 i US .1. Mefaou*r»». R. 32901 


.WORLDWIDE EXCLUSIVE MARRIAGE AGENCY 


EXCLUSIVE IN MUPflCH 
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Ffoc +49 - 89 • 6423455 -TeL 449 - 89 - 6423451 
THE SUCCESSFUL- 



SOPHISTICATED INTRODUCTION 
TO THE BEST 

IN INTERNATIONAL SOCIETY.- 
THE EUTEm. 


ON HAWAIU SWISS TOP-MANA GERESS , DR. 

_A BEMinRJLBbONDE EXECUUVE -38 /SJT - Jw Krador ofolB ^ S 

F YOU ALSO BTfflt TRADfDONS, BtDCS AND MORAL VALUS WE Wli BE PlEASB) TO RECEIVE YOUR APPUCATION. 

L Do3y 10-19 htt. D41545 MSndwn/Oermony HarthemwrSIr. 1CHI By appointment 

^ to--^p^.^nj A |%4S»pU - ^ 


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, 37 yecn 

eduatod, refined, rodfa wwfai . , 
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ASIAN LADES seek nraae- Ddofa* 

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Tel/Fax +3120643735B 


COLLECTIBLES 


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Wm, offers around S950. Tefc (Uiq 
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INTERNATIONAL PARTTffSSHIP-AGDiCY 
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< 





Page 14 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, NOVEMBER 5-6, 1994 


NASDAQ 


ISMartffl 
High Low Sock 


at* yw pe loos man LowLonsai'ge 


TSMonm 
Wot, Low Stock 


Friday's 4 p.m. 

This list compiled by the AP, consists ot the 1,000 
most traded securities in terms of dollar value. It is 
updated twice a year. 


J4M fWBuxEn B 
Wfe /ftBfitBV 
45 ft II EU-tMTc 
iaVkio'<.EmPert 
19% BViBdwvSey 
4Sft JlfeBrodSf 
3fift:jl*4BfclvnBc 
I8ft 1 1 Brocwstn 
2144 9ftBroGour 
164% lOfeBrTom 

j&reisss 

2414 IS C-CUBE 
16fel0 CAI Wre 


llMontti 
RflhLow Slock 


_ 64 837 194% 19 19ft — Vu 
_ 45 23M inn 174% 17%%— Vu 
_ 43 MS 94% 9 9 


194%43VnEnc«l 
_6ft 31% Encore 


„ S3 610 1»W 17% 17% 

zrlar* Hsias-.'S 

_ 34 237 19ft IBfe IBM — fe 
_ 56 7S5 g 614% 41%— 1. 


safe liVse 
23 IJfefe 
30 |5WEi 


tfoh LgwLrtesiOrt» 

159. 154% ISfe _ - 
4, 3 >Vd 3Wb — Vu 
life 15V. ISfe.— V„ 


II Month 
HghLow Stock 
54 19 KLA_ 


95 

Oiv YW PE 1005 




„ „ 261 32% 32 32 - Vi 

_ 11 334 15fe 14 V, 15 „ 

„ 18 771 13% 171% 121% 

_xe m 124% law 12% — v„ 

.24 2.3 17 EE9 9ft 9 9fe ■*■ V% 

_ 13 3144 104% 0 94% 10 — fe 

__ 1331 21 1916 19%— 1% 

__ 559 10 10 10 


MW 10 Entvinn Jfle BA 
63 W 354% End'd >0% l.D 


OftKftEricTH 
ISfe llftEmSHm 
321% IIWEwbtMM 
74 14 E4007K 


V 29ft 29 
10V] low low —’ft 


IMMHb. 

?9ft 9'iKePtof 


50V> 584% 59ft *fe 
13 12 17 —1 


B 17» 17V] — fe 
3ft aft a% — fe 


32W2rAKeyRi 
161% 11 KirirLr 
1BW 2ftKn*tW 
251% 1444 KgmtJB 


□hi Yld PE 100% High LowLaeflOl'M 44ft 32WCCB Fn 1.36 34 10 67 39ft 384% 391% * ft 


law A AAQN 
23 12 ABC Rail 

30 144, ABT Bid 

7i'« UfeACCCP 
74 744 ACS Enr 

47 31>.,AOCTc 
474431 AOCTBf 
2l%14%ADFtex 
17 1 /, lOfeAESChn 


_ 19 110 

r 2 * B 

.17a .7 - M 

I M 354 
_ 31 M2 
_ _ SM 
_ 502 


23*4 I5WAE5CP1 681 14 IB .838 


33<4m4AKSJMl 
31 ’..16 APS Hid 
33 104% AST 


life 6%A»eTet 
TOW 7to AcesHB 
29W UftAccWm 
77 fe 14 AanaMet 
Uft TfeACtel 
24*4 1 54% AOVOiC 
30 18% Aarioni 

241% 14 Adaatc 1 
76 in AdSohh 
37ft M Adi as v 


- 1021 
-14 299 
_ _ 5307 
_ 34 1638 
_ 17 734 
... 499 
_ 1910963 
... S 353 
20 683 
_ 23 9B 
_ 33 14 

- IS 6160 
_ _ 10 
16 A 16 103 


38ft 19 Adobe Sv JO A 2712340 


SAW 20W Aaron 
SlfelOftAdvHIl 
17"i UfeAOvTLb 
lift 4ft AOvTisS 
464% 26 ft Advanta 


_. _. 1A7 
_ 23 263 
_. _ 1047 
_ _ 757 
.0 11 3079 


J8V42S Advanta J2 1J 10 905 


Oft 17 AtfCmoS 


141% 141% I4<% —4% 
2IW 211% 211* —Vi 
15ft 15ft 15ft - 
17 IS% lift -ft 
9 Bli Bft 
38ft 37 37 ft - ft 

45ft 43 43ft— 2ft 

19ft I7fe 17ft -ft 
lift 104a 11 —ft 
20 19ft 19ft -ft 
32 31ft 314% —ft 
29ft Ml, 29ft -Vi 
134% 12ft 12ft —Vi 
23ft 22 22 —1% 

7ft 74% 7ft —ft 
19ft 18ft lBft —ft 
17ft 16ft 16ft —ft 
19ft IBVilPVj, -V n 
Bft Bft 8ft «ft 

221% a aw— ft 

2flj* 28 m * ’% 
MV. 23 23 ”m— ’V i, 

12% 12 12 
36ft 3514 35% —ft 
35 33% 31ft —ft 

S ft 35ft 35ft —ft 
ft 30 X —1 

'?£ 

27ft 26ft Sift —ft 
25ft 25 25 —Vi 


54ft 13ft C COR 
31ft ISftCOW i 
12 5ft CAO 
32ft Mft CodBvS 
18ft i'li Caere 
17ft afeasgene 
Uft 4TVCoiMD 
Kft liftCalMic 
19ft 14 GunbTdi 
34 70 'A CWineA 
MVi59V',Canonl 


_ 49 2SB6 52ft 51ft 51ft— ft 


_ _ 137 31ft 30ft 31 
_ ,8 777 17 llftll>Vu -V u 

1.17a 4.1 _ 38 2>ft 2Sft WpZ _ 


25ft 14 ft ExueB - 

T2 I3ftEj£Plns .10 3 

17ft 10 C«S>-P _ 

31 19’AFHP ~ 

MftaftFHppfA Jle U 
3Bft 9ft ESI Ini 
31ft11ftFTPSft „ - 

46 28ftFa«enai JM .1 


20ft 15 CsrouSr M \J» 16 76 


_ 66 5074 U 19V% 18ft lBft —ft 
_ _ 1252 8ft Bft Bft —ft 
„ 9 tS86 5ft 5ft 5ft —Vi 
_ 36 3717 Sft £ 32ft +ft 
. S M 19ft 17ft IflVii— 

- 21 1M 34 33ft 34 +ft 
Jle 2 69 22S 90ft 90 90 -1ft 


21 ISftCoroerHz 
aw MHnQirePir 
40. 21 CascCom 


16ft 10 Agnieog .I0e A — 376 


16ft 9 Aaoum 
MftlBV.AirExi 
63ft 45ft Alao 
71 r, V/iMalfK 
3flft lBft AHank 
19". HftAldila5 


_ . IW 

J4 A 15 177 
lJ4e 39-371 
— — 6238 
ao u ii a 

_. 50 670 


aw ii v« 21 ft —ft 

12ft 12*% 12ft —ft 

|1 10ft loft -V% 

38ft 2B 2flh _ 
t£ 59ft 59ft— I 
18ft 17 IS -ft 
a 21ft 21ft - 
17% 12ft 12% -ft. 


as 9ftCOSAfflS 
36 IflftCosmoOS 
IB SftCaAMogie 
25 7ViCOSttE& 
19ft 8 CattiStr 
MV. BVj LoJoCo 
21 12 Cdtxlon 

U'A l3l%Cetesiial 
36><v MftCeUPm 
20*4 9ftCeftslor 
Sift 40ft CtfCmA 
48W 10 Ceu intis 
37ft lBftCfHQnPR 
»ft 8'ACeirTcs 
24V, 14 Centca 
IB lOftCamrbk 
43 M Centgrm 
Iflft BftCentDcar 


36 13 16 76 20 19ft 20 - ft 

- 44 5 17 17 17 —ft 

- — -JB57 19ft 19 199% -ft. 

.. ,. 2254uM'A 57 59 -1ft 

144% loftcasevs 1 .08 A 17 168 134% 13ft 13ft — ^ ft 

as 9ftCasAfflS _ 8 1658 lift 11 11 — ft, 

_2i 186 Bft a*v a« —ft 

„ 9 36» 644 64ft 6ft - 

- 3 98 14ft 14ft 1446 - ft 

- 10 167 Bft 9 Bft -ft 

.16 U 13 665 9ft 9ft 9ft - 

_ 31 2B 19ft lBft 19 -'A 

-II M 17U 16ft 17ft -ft 
633 16ft 16ft 16ft .. 

- 18 536 17ft 16ft 16ft - 

_ - 4*5 SI 52% 539% —ft 

- ^ 884 45ft 44ft 45ft _ 


TBft lift RdeffMY . _ 

55 45 HfBlT 1J24 24 

15ft TftRpgleA - 

av, Uft FneNet - 

12*4 iftRfBsml 
aft 8ft Fst Alerts 
35 ZBftFtATn 1.00 14 

26 17ftFColBfl 60 27 


awFComcs U0 47 
■ 19ftFCmeCpS 77 14 


75ft IVViFTEdMI .56 2.9 
17ft. 13*6 RPnCp AD 28 
31ft EiftFtHow 1.18 *3 
16 V) SftFtPcNlW - 

20ft litaFsiPalm . - 

333% 23ft FSecCp 1JM 47 
4714 36 FitTenn i M 41 
23*6 IB Pi50V - 

lift BftPtextm _ 

JOft BftFearnav _ 


_ „ 884 45ft 44ft 45ft _ 

- _ 70 36 ft 36 36 — *% 

- 14B 4360 1646 15ft 16ft - I 


_ — 354 17ft 16ft 16ft -. 

- 29 220 124% 12*% 12*% 

- 1 10 2101 20ft 19 19*4 —ft 

- - 7700 1 7 15ft 16 — ift. 


7ft JftftJUaB .09 1.6 

74% 5'APdUOA JJ9 1J 

54ft 20 Fares vs 
»ftl5 F6S5I1 _ 

B a FrttiFn 1JH 14 

18 8V%FfwnTc 
33ft 16ft FrshChc _ - 

42'A29U.FulrHB JB 14 

20ft 12'AFunco 


H. 21 ft 72 -ft 
m» i6ft 17 —ft 
214i 23ft 21ft oft 
lift lOftHPVj.-ft, 
W A 27*4 279% —'A 
26^1, 26“^ -VV, 
»ft a 27ft *ft 
24ft 24 24ft —ft 
45 44 44ft —ft 

ZH%021 lift— I ft 

MY|| 2B ZB 

a siftsiwu— v% 
8 ,7ft 7ft » 
26 25ft 25*6 -ft 
7ft 7ft 7ft - 
» 19 19 —ft 

nft »'a 29ft — w 
22ft aw aw _ 

5Tg£i^ r 

19*6 19ft 19ft » 
Uft 14 14' A _ 

2.7 ft 26ft 27ft „ 
Aft Aft Aft — *% 
16ft 16ft 16ft -ft 
25ft 24*6 25 
46ft 46ft 46Vu— V% 

a a*% 2i?*— i 

13*6 13ft 13ft -ft 
9ft Bft 9ft _ 
5% 5ft 5ft —ft 
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24ft lOli Korin 
74ft 9*%KUKki 


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_ _ 677 

n 23 20 467 
_ IB 670 
_ _ 1646 

- 19 125 
1JB 4J 12 323 

_ 15 TIB 
... - 585 

- 14 1314 


High Low Latest Dfoe 

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6% 6ft 6ft —ft 
30ft J9V. 99ft —ft 
72 21ft a. -Yl 


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17*% 17V4 1716 —ft 
23 Va 78 Sift -V% 
13 12ft 12*6 

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- is iJS 




I ^ I 

24ft IZftLCjlnlS 60 2700u25ft 24ft 24ft -ft, 

Sft 14 LDDSs _ 23 4Q92 23ft Bft 22ft -ft 

5ft 2 LTX __ 489 4ft 4ft 4ft —ft 

46*6 22*6 Lomft3t*l „ 24 3237 44ft 43 43ft — I 

39ft 29ft LatKStrS AS U 17 491 34*6 34 34V U -V% 

Bftl6*6Lawt .ft 15 IS 86 IB 17Y*m«-Vi, 

35ft 16. LdmKGOh „ 148 541 19ft 19 19ft _ 


lBft 5*%LosnnTc 
20ft 12ft Lattice 
31 21*6Lawwi 
Bft 14ft LeadrFn 


iSVi llftLmoCa 
19 lOftljedaerc 
34*619 LAftant 

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- IB 132 31ft 304% 31ft -ft 

_ as 1113 16 15ft 15*6 —ft 

_ 14 16M 17*4 17ft 17ft —ft 

■48 1.9 18 » 26 25 ZSfti -ft. 

_ B 40 23ft 22ft a —ft 

41 492 24ft Dft 23ft —'A 
_ 127 919 171% 17*» IT*. — V, 

_ 21 am 31ft 30 30 -ft 

_ 33 JIM 20ft IW, 20ft -ft 


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33ft 21 PopaJahn 
47ft2iftPonnTcn 
34ft 13ft BWOHCB 
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24ft 15ft PotOnfl* 
40ft aft Ppvch et . 
44*631 BBltfefir J 
lift BftPeopCT j 
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lift 10 PeooHrt , 


12 

_ 24 473 
— aS 636 


High iflwLatestQi’gB 

20ft 19ft 20 -"ft 
15ft is 15ft fr 
14ft 14V% 14ft —ft 

“ft Oft Oft -ft 
17 16ft 16ft tft 
69*6 69ftM»— »ft 

lift 68. 68 — 6 


1 3 Monti 
HUh Low Stock 


Sfc 

i pe 100s High 


LflwLoiMlCh'ae 


25*6 19*6 
56ft 47 
Hft 17ft 
1 2ft Bft 
36*619*6 
21ft 12*6 
MVV12W 


lol% Ift SppCTc h 
26ft 1 3ft Sp teaal. 
19ft lift Sprfmrt 
Bv, zftstgcEtec 

11*6 9ftSWWld 

26ft l3ftSMMg 
23*6 17ftSRf4«a 
26ft 11 ShtftfTl 
26 1 316 Stasias 1 
OTft 19 Storbdcs 
aft 10 SierTet 
43ft 31 SloStQos 
92*610 StatnCos 
5i5 10*6 StaelTeti 
Bft 13ft StaMWrt 
29*6' 16 States 
53ft 33*6 StwStv 
28 Vj IVftS tgwEn S 

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9 1667 _9V% 
U 1154 21** 

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lB Uft 


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Bft 9 
21ft 21 W 
15ft 16 


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„ Si 349 
„ OT 2107 
-107 237 
' is 19 997 
- E 887 
141 35 1012 
14 16 101 
A3 B 735 
14-71 


31ft 32ft +W 
15ft 15*6 -ft 


15ft 15ft 15ft rft 
37 31*6 3116 , 

35ft 34ft 34ft —ft 
19ft 19ft 19ft - 

21ft aft ?i -ft 

20ft 17ft 19% -ft 




22ft 9 Pereatr 
34%ll%P«rrtso 
17ft 10ft RotcoAn 


2J 9 1671 


447 Bft 7% 7 Vh -% 
163 139ft 13SftI38V, _ 


M'AJBftlJnOT* _ « 056 »ft 27ft 27ft —ft 

20 ft 13*% Unc us St 3J 16 147 16ft 15ft 16ft - 

49ft aft LinOMT c M A 39 5990 oM 48ft Oft— 1 

10ft 4ftLnnsm „ _ 1585 9ft Bft 9ft -ft 

27ft JO IJMHusa „ 23 46 26'A 25ft 25% ‘ft 

lift iftLoJQCk „ 141 1147 6 5ft 5ft —ft 


38*,71ftFot!iMUrt 
17ft dftPhimMkt 
19ft liftPhormAB 
27'A ITftRfUrtn 


27ft 16ft FYlVSitMt 
20ft 10 PfcTet. 


27ft a Lo ewen o .06 _ - 1007 » 25ft 25*%— ’ ft. 
BOftlAViUieSak _ 36 W1 ZSft 24ft 25*A -ft 


av% lowPinciMJc 

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S3 55 *1*? 

26*6 37'A +% 


30ft 16ft Lr 
17ft lift U 


12ft 7 LnaSik 
86 ft 29% LAhK _ 

34ft UftUJVOto AO 2.0 

29 ft 21 ft MO 315 2 

4BVi2DftMFSpn 

21 BftMKRoil .16 ij 

16*6 13WMLF BC - 

26 ft 17*4 MS Carr 

12ft lftM TCB 

2lft ihftwwnd 

I9ft 9'A Madge 

38 TiftMawnP 

21ftl7ftAAagpB Jb 38 

Pftl4**Mn Pmto 

14*% 7*%Marcatn _ 


30ft 30ft 6% 

15 15ft ‘ft 


16*% 16V4 16ft +W 


04V,Js*%CF:«sak 1.12 39 10 2S» 29V. 20ft 78 ft 


19V] 71% Caphln — „. 336 B*6 B Bft —ft 

4fftBftCemer _ 33 726 O 4ift4ift— Vi. 

36ft 18’% Cervecer jt3e 1A 28 2514 76ft 26 26ft * ft 
Ufa 7V.OirmSiE 319 13 11 4779 7ft 71% 7Vi, —ft 

7i 17ftOil&iFj M 3J 8 109 19ft 19ft 19ft -ft 

15 3 ft Checkers _ 2? 5172 4Vu Jft. 4 _ 


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MV. a Aieteid M 19 la.iow 23ft 22|« a% -ft 


TS' i BViAliOSR 
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_ .. 934 
_ 22 2113 


Uft 25ft 25ft -ft 
7ft 0 61% 7ft —ft 
26ft 251% 76ft ‘ ft 
28 27 L. 27ft 

9 Vi 8% 9ft *'A 
38ft 37 37 ft— lft 

30'» Mft 29ft —ft 
21 19ft 19ft— 1 
74*6 72'4 73 Hft 

S '/. 20ft 71 ‘ft 
ft IB'... 1BV»— >t,i 
17ft IT", 17ft 
16ft 16ft I6Vi, — V« 
25ft M’% - I ft 

21ft 20*. 70* . —ft 
77ft 26*% 26ft —ft 
7ft 7ft 7ft ‘lft 
Uft 15ft 15ft —ft 
6ft Oft 6ft —ft 
14ft lift 13ft —ft 
IS 17ft 17ft —ft 
IJ<. 12V. 12ft _. 

Uft lift lift —ft 

34 ft 33ft 34 
17'.. 167a 16% -. 

2J". 211% a 


31 aftAUedGo .40 11 I 95 


32 Vi 7".A>ohgfita 
40ft 21ft Altera 
31ft UftAifRese 
21'% lO'-j AUran 


_ 227 

_ 25 3705 
... _ 8184 
-. 15 SAO 


97 47ftAmerOn Jle _. 96 6227 
27 V. 19 ABnkr J2 14 8 2OT 


19ft 9ftAmBWo 


WV; U'.ACknVov .14 .91750 1OT 

Uft lOftACailMd 24 13 S 499 

29 J .l 12ftAmeaflle _ 37 624 

24ft 15ft AmFrghl _ 27 569 

34'.ir«AGnwt 36 2-1 14 4294 

24'% 5*%Ahamo3S 12 177 

lBft 1 lft AMS S _ IB 1168 

17ft i'.i AnneOE . 13 304 

77 12'., AmMbSai ... 269 

MftldftAPwrCnv _ 75 671B 

75 llv>APubliUi me 2 .. 1925 


23ft lift ASavFL 
39'. . aft AmSupr 
18 10% ATrovet 
76’ . I9'-.AmtCd 
591% 34 ft Amgen 


_ 7 46 

.. - M2 
_ 12 537 
24 1.1 20 202 

_ 19 9310 


15 SftCheckers 

24ft 13ftoi»ai3 
a". 4ftC3iesEna 
19 6"]OiiCd£S 
6S‘ 1 31 ft Ctiipcam 
7W SHOlipsTC 
96 50ViO»ran 


79 5ia 4V U 3>S^i 4 _ 

OT 70 19ft left 19 — Via 
22 2413 34% 24 34ft ‘ft 
10 975 7ft 6% 7ft —ft 
46 2691 65ft 63ft 63ft - 

M 2BI2 6% 5% 5% —ft 

fj 19778 60 ft SB'A 99 —3ft 


23ft 9ft Golev 
33 ft 13V, Gartners 
21 9ftCO50fltCS 


_ 32 648 18ft I Bft lBft —ft 

JO 36 10 USB 22’., 71% 22 —ft 

- 20 54 16*6 16 16 —ft 


„ 12 442 17V4 lift 17 
_ S? 624 u 34 Vi S OT 


_ 36 951 ZSft 24ft 25*A - ft 
_ 7B7 14% 14% 14% —% 

- 35 294 Bft Bft Bft - Vi* 

- _ 17407 40*4 3Bft38*5*— * W« 
A0 2-0 12 46 20 19ft 19*6 — 
25 2 162MB 23ft 22ft Mft -ft 


41ft 7ftPBencr 
29ft 3V%Pk5Soft 
23ft 8ft Plat TC 


_ _ 5151 41ft 40ft _ 

2 _ll790 9Yi Bft 9 —ft 


W9&SEm 

asjr%nar 

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78ft 6%PresRvs 

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3B'A24ftPrcTRs 32 
OT 20 Primodn 
17ft 

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- _ 712 14ft 14ft 14% -ft 

_ 24 666 24ft 23*% 24 —ft 

_ _ 3001 4ft 3P*u —Vu 
_ a 2264 20*4 30 'A 20ft —ft 

_ _ 413 lift lift 11*4 _ 

_ 15 1088 36% 36 36ft —ft 

-76 38 12 159 20ft 20 20ft —ft 


31Vj BftOrmmdi, All 3.1 75 TO3 15ft lift IS —ft 


32'% 15 Odco 


_ _ 6630 30ft 23 


5Bft 48V] CnnFin 1J8 2 S 14 165 51 50 SOW —ft 


44ft MftGnOHlt 

aav . i i5ViCenNutr 
Aft 37ft Gcnollnst 
29% 4ftGenski 
IS", IB Gertea 


_ _ 519 2»ft 18*4 19 — % 

_ 18 B408 23 Vi 22ft aft —ft 

~ 26 6 «6<A 46 46 —ft 

_. 34 5753 27ft J4% 27% + ft 

_ _ 30 41ft 40ft 48*4 —ft 

_ _ 1IX» 4% 4ft 4% _ 

_ 26 156 24ft 23*4 Bft ‘ft 


__ 2070 24ft 21% 23ft -2 

14% 7% Marram _ _ 436 9% 9ft _ 

7% »%MTOfl _ 17 3931 4ft 4 4ft —ft 

27ftlS%MorinwH _ a 533 22% 22’% 22% -ft 

24ft B Marsom _ 49 373 13ft 12ft 12ft — % 

24 18% Marsh Us AO 2.9 20 1B91 20% 20% 70? i. —ft] 

Bft 13ft Masiaml .I5e .9 id m lift 15% 16 „ 

15% OftMonrHB — 17 BOB 15% 15 15% — 1A, 

17 5%Ma>dmGp - 40 538uir% 16% 17 »% 

iTftOT'AMaxlin _ an 2063 65ft 62% 62ft— 1*% 

Bft 2 ft Maxtor _ _ 1531 4 3ft 2% — % 

24ft 17%McCar 48 24 15 631 20 19ft 19ft _ 
40 SWMeCOPh _ 36 991 38% 37% 38 — % 

16ft BftMegr _ 23 393 13ft 13ft 13% -Via 

24% llftMeScms 29 3084 u 27 24'A 25 -1 

26 19'AMedSh 48 2.1 _ 89 23ft 73V< 23V. —ft 

21 12 MediSens _ _ 1SS1 20ft 20 30ft * Vi 

19ft llftMedSlal _ 24 2159 16ft 15 15% —ft 

IB 3ft Megan rtz „ 25 1455 11% 11% 11% —ft 

23’V lOftMegafest _ 7774S0 10ft a Bft 9ft— 3*4 

34ft 1 5ft Menwre _ 32 3» 26 25V. 26 - 

lBft 12 Mentor Me 3 14 Bl 17 16% 16ft -ft 


36'.128'iantoa 
44% 749* Cirrus 
40*4 lBft CISCO S 
23% 15%artcostr 
2B BV. can team 

47 TB'liCslHtttl 
391', IZViCcaro 5 


.17 J 30 461 36 35*% 35% +% 

_ 13 4832 78ft 77% 77% —ft 
_ 3643497 33% 31*% 31 Vi —ft 
_ _. 13u23ft safe 23ft —ft 

_ 78 3138 12ft 10ft 11% -ft 
_ 33 4380 34ft 33 Bft —ft 
_ 38 6511 u39% 37ft 39 +lft 


_ 13 U30 31 30ft OTft —ft 

17% 6%GaoTk _ „ 4787 B% 7*6 8% +H 

61*2 50*aGrmSv M 1.9 12 296 61ft 63ft 61ft ‘ft 

Z3%ll%GR>snG 40 2.7 . 239 15ft 14% 14% —ft 

28% 14 GfdLew .12 J 16 2558 16ft 15% 15% -ft 

15ft AHGBead _ _ 43 9ft 8% 8ft ‘ft 

63'A 37% Gter.i r S - 31 1476 62% 60ft 60% — 1% 

12% 5*6 Gib vn OB _ _ 2B 9ft 9 9% ‘ft 

20% lOftGtKKfGy __ _ 13 646 12*6 12ft l^A —ft 

26*6 ITftGautaP JO U 2 4817 21% 21 71%, — Vu 

S ft 17%GmteC JO -9 M -174 »Cv 21 'A 21% —ft 

%13%GrtFnd Me J _ 779 15ft 15ft 15ft ‘ft 

Z7% laViGtUsSC 1.84 1 7J 12 B 25% 2S% 23% _ 

lift iftGINYSv _ _ 25 457 8*6 8% 8% —ft 

24'% 16 Gnmfld J8 J IB 292 24 23% 23ft —% 

B IS GnoveB 40 IA 12 73 23% 23 Bft ‘ft 

20*. 10 GUSB45 _ 22 639 17% 1? 17% _ 

32ftl9%Gu«S<W - - 38 32 31ft 31% +% 

31% 7 Gupta _ _ 114 11 10% 10ft *% 

B lTftGymbnes _ 45 3227 31 OT 30 — % 

35ft 17% HQO 3 .16 3 41 1971 34V, Bft 33% —ft 

40ft 17ft Hoogce- JO 3 9 968 94ft Bft 24ft ‘ft 

35% 18 HarrarnBc _ 9 76 26 25H 25% —ft 


41ft 74 CocaBfl 1.00 33 19 207 Uft 25% 26ft _ 


7% 4%CodaEn 
24% 16 Gatlexip Jla 14 

ii' « ttftCrSJior J# J 


_ 115 356 7 6ft 6% _ 

14 _ 143 27*4 »ft Bft 
_ OT 1470 14 23ft 23% ‘ft 
.9 1482 u 22% 21 Bft ‘lft 


31 ft 1 7 Column ltd a 4 <0 68? Bft 21ft 22% ‘ft 
BU 17 Cold SCO 40 34 6 1939 17% dl6% I6Y1. — V» 


32 17 Comor 


J2 14 13 566 20 


Bft B'-.AmtcnCp 88 4 9 1178 


53Si 53 S3fft ‘=V„ 
10ft 9*.] 9ft 
14% 14 V, 14V„ 

17ft 17% 17% _ 

51 48% 49 —2 

17*'i 17V. 17% _ 

28 26% 26*»— Aft 

11% 10ft 10% —ft 
16ft 15ft 16ft - 
41% 40 40ft— 1% 

16ft 16V. 16% —ft 
19ft IBftIBhi,, — at,, 
lift lift lift —ft 
76ft 75% »ft -*« 
B>. 23 B 
SO 48 i8ft —ft 
21ft 21V. 71ft *% 
70ft 19*i 19ft —ft 
Uft 14 14% *% 

30*. 19ft 70’/. ‘ft 
38% 28'-. JR ft 
18 17'. 17% -ft 

13 17% 11 -V. 

27 71% 3 -'A 

B% 71ft 71ft — lft 
10% 10ft 10ft —ft 
33% 30ft 31V,— 1 
lift 11 11 — >/„ 

35ft 34ft 34% - 

26 75V. 75*, —ft 

25% 

151. 15% 15% —ft 
78ft 78*. 28*1 _. 

17 16ft 16% — V u 
35% 34% 34% —ft 
74 Bft 74 -% 

18ft IB IB% —V. 
4ft 4Vu 4% -Vi. 
7% 7ft 71 %» - i/u 
33 31V. lift— lft 

26*. 25ft 25% • % 
IB IT 1 '. 17% -ft 
38 37'/. 37% * 'A 


17' i ilftAnchBcs 
19'.] 10ft AnchGm 
53 lift Andrews 
21V. 13% Andros 

38ft I fl"; Artec 

17ft ZVi.Aperfus 


_ 9 2103 

_ IS B 
_ 33 984 
_ ID 156 
_ _ 77B 
_ _ 1923 
_. „ 191 
48 1J 1517017 


18ft 12ft ApISous 47 .1 35 1904 

35' . 11 Aolebees CP 2 34 2990 

lift 3% ApdExIr ... _ 1534 

76% UftAodDoU _ _ 1154 

33 IS Apdlnovs _ 31 190 

S4"i 24V. ApidMat! ... 73 8810 


71% 16 ArbarOta 24 1.1 IS 40 


35 15 ArborHI 

7) ifr>ArfirNH 


77 IJftAraosv 


Bft 18 Arnolds 
24ft BftArtslt 
3SV] lift AKxndC 
13ft r><. Ashwrth 
46 34 AiPCTTl 

31*. a AsdCmA 
31ft 21% AsdCinB 
30ft 12 Astec 
34% 77’AAMorViF 


2.1 IB 413 
_ 12 2334 
_ _ 1055 
25 1277 
- B 848 
_ 3221 


38% 16ft Arise Air 32 1.9 IQ 3069 


37% liftAtmel s 
30 lHj AtriaSfr 
26% 15 AuBan 
9" ft 3'VuAuraSv 
10 3ftAu5Pflx 


_ 29 3474 
_ _ 6B5 
- 78 899 
_ _. 12488 
-. B 7346 


35 lflftAutfflfcs 24 3 at 3838 


34’k B%Autolnd 
29’., 13ft AuloMto 
39 V] 17 AvidTctl 


_ 16 1HH 
_ 36 2264 
_ 33 1204 


76 MftCmcses 319 A ~ 370 16% 15% 16 —ft 

39 1 5’,, Comm net _ _ B88 28% 28 28 — % 

BV. UftCmcSNJ AS 33 8 516 19. 78% 18% —ft 


73 lS'.OnceGn JO 1.2 _ 48 16% 16ft lift „ 

37 % 17 *lCm«r _ _ 70 20 % 20 % 20 % —ft 

36% 30% CtxnpBiK 32 43 ? 1195 Bft 22% Bft _ 


_ it m 
_ 18 7267 
_ _ 128 

= =1H 
r * & 

„ 34 81 

„ 32 79* 
„ 19 3224 
_ 19 IBS 

- B3 1»0 
_ 34 179 

U ft i’sT? 
t ” S2 

_ _ 3131 

- 77 15PJ 

- 13 2J« 


41 40% 40% - 

13ft 12% 13ft - 

19% 3j4 17ft"^ft 
14% 13% 14ft -%i 
4*4 4% 4ft —Vi. 

67% »% 59% — 2ft 
11 10 % 10 ft —ft 

21% 30% 31 — % 

13% 12% 12% — % 
17% 17 17 — % 

23% 22*2 Bft —ft 
36% 34% OT — 1» 


. Z 34J9 1'Vu 

! m 

: K 

. 15 3717 25 

. a ijsi 

: ” It iia 

J 12 2108 33% 
.454 2928 14 
I li 938 13% 


U% 14% 
1% 13u 


13% iSftrlfe 
14% 15»* ‘J* 
6*. Bft —ft 
9ft 9ft — 'ft 


M%24Wi* *'{’* 
17ft lT^i. +*« 


T| 938 13% 

B 1498 17% 

38 at0uOT% 


1905 38% 


71 86 MVa 

74 5973 59% 

9 3630 1% 

24 1695 34ft 
„ 511 22ft 
A 770 21ft 
14 II 16% 
1491 M% 
1413903 33ft 
9 1*06 9ft 
16 58 38 

33 970 42 
_ 16 24 

26 17W 41% 
36 793 17ft 
4111417 53ft 

75 173 IB 
_ 2385 17% 

as 1163 12ft 

58 114 8% 

54 43ft 

19 249 13 
_ 2367 7ft 
24 1049 10ft 


18ft 18 18 —ft 


SS!I SL 


26ft 25% 3AVt ‘ft 
JH1 33% Bft —ft 
25ft 25 25% —ft 

25% IS Bft * % 

&>-»« 
50% 50 50% _ 

33 3%^%il S 


Bft Bft 8% ‘ft 
12V4 11% 12 


M^B^SunotasS 
19 ^^I^mLrn 


_ 38 326 
_ 60 5367 
> 7 106 

_ _ 11099 
_ 187 3431 


23V. 20% 30ft— 1 , 

12% lift 12 -ft. 
66% 64ft 65 


16ft 1<W -Ah 
9% 9% ‘ft 


52% 33 Synoesys 

5%’sssr 

23ft 13% 5V3tQlt 


18V* 19 

22ft22V a — I*u 

P 28% *% 
12% — % 
32% — *i» 
}3ft z- 
13 —% 

16W 16% -% 

27% 27% —ft 
% 37ft -% 
23% 74% ‘Vh 
58 58 — JJ 

4 4ft ‘ft 

Bft 33% —% 
aiw aw ‘ft 
71% 21ft - 
16% 16% _ 
TBft 29 %-IVh 
B% 32U— IVu 
B% Bft— ft 
3 Vh 37ft ‘ft 
41% 41% -'A 
a% 24 - 

40ft 41ft ‘ft 
16ft 16ft —Vi 
48% 49% —2ft 
17% 18, - 

17 17ft —ft 
12% 12% -% 
Bft Bft —ft 
5% 4ft - % 
44% 44ft —ft 

lift » 




SSSf 1*99 08 IPS ta 


14 16 1075 
_ _ 1866 
_ - 1284 


„ 64 633 
_ 15 158 
_ _ HIW 
_ 17 18 

2* 1* g 

- 27 tm 

- - 913 
_ MS 1645 


lift 5%PnnSy 
27% 17% Prvflfcsh 


34% 7 Pnxckna 

W f'SSS: 
riaasir % 

16ft SftPvrmT 


Sft 

22* 21^ ‘ft 

Jlft 31% 31ft— W 
16ft 151k life — % 
9% 8% 9% —ft 

34% 31% + 


13% 9%TBC 
29ft 17ft TCt* 
33 17 TJ Inti 


29% 19 ftTJfT Frt 
12ft 4ftTP1&l 


17V1 lHATRPnc 
21ft 7%TaaiCab 
37% IS TaraetT 

70 8%Ta«nn 
B% 12%Tchfial s 
17ft 12'ATecnolM 
62%«3ftTecumB 
OTW43 TecumA 
IBM 7% ratal 
31% iBftTetOnA 
15% SftTofebH 
51%18%Tea*S* 
24% 6%T«hitar 
18% 10% Tat xon 

awsfig" 

43% 15 3Com S 

20ft r^TtSwii‘< 

8 3’iTofcosAftd 


5*4 5ft 5% - 

15*4 14ft Hft — % 
25% 35ft 25ft — A 
34V. 24% 24*6 —ft 
10ft 10% 10ft - 
19M 18ft 19 » 

43% 43 43 —ft. 

14 13ft 13ft - 
30U 28ft 29 —ft 

a*6 71% 21ft ‘ft 
16 15% 15ft —ft 

38ft jaw 38% —ft 
5*6 3*4 75% ‘ft 
16% 15ft Itift ‘ft 
12ft lift 12ft _ 
16% Uft 16% - 


so z3ftM«Japh 
16ft BftMed? 
Mftllft/WMdCmp 


26 19'AMedai 
21 12 Me^Sens 

19% li ft Medsiat 
18 3 ft Me gan rt z 

23ft 10% Megatest 
34% i5*4MenWre 

18*412 Mentor 


38ftl6%Pvoda, 

39ft»ftgvC 

40% 15 Su^on! 

sKsiS 
%£% S 

30% 9%dul0kRa 

16% 5%BuJ33r 

17% 9*6QlHTcstV 
25% llftQutnSva 


24ft 6% Mercer _ 13 856 15ft 1S% 15ft —ft 

34V|25%MefCGf1 JD 2A 9 680 30% 23% 2S'l— 1ft 

33%26ftMrdnBc 1J6 43 11 2370 28% 2flft 28 »b ‘ft, 

22 ft 7 Merisel _ 10 1065 Bft 9% 9ft —ft 


_ _ 902 
_ 21 3446 
_ 48 585 

_ is 35T 
5 8 s ® 

» 8 73*2 

_ 28 1569 
3 _ 46 

_ IB 187 

i” £ 

1J 12 116 
_ 19 410 


TS'I. J4*6 25 +G 
16% 15*4 16 — % 

Bft 20 20 % — % 


8% 6% Tapps 
Idfe 9T»TwrAuto 
28% 21 TrocSup 
16ft 8ft framed s 
a 17%TmReCp 
43*631%TmwdC 
55*5 21*4 TriPotyta 
XI 3ft Tricon] 
15% B% Trimble 
17ft 2ftTrtmed 
20 ufeTrtsrn 
13% 6*4 Tseng 


aft 17 Meracp .12 J Id 9 19ft 19 19% — % 


a 6 MasaAr 
IBWs TftAieinanx 
20ft 12 MattvlA 
34 llftMsrrqri 


18ft 7%Cirwrsi. 
12ft 5ftCplNwfe 
49% aftCwnpuwr 
16% B Comvers 
75 llftCncEFSs 
Uft to Conastaa 
a*» 10%CaraGph 


_B75 453 8*4 Bft 8*4 ‘ft 
__M9 7 6*47 ‘ft 

_ a 3995 39 38% 38ft — % 

_ 22 1684 14 13ft 13ft +V» 

_ 34 1241 2*ft 2* 24 +•-. 


IBft12%HarpGp JO 1J 16 44 15ft 14*4 15 —ft 


20% UftCobfsB 
J9*4 IS CaplevPtl 


I7ft 9 Corther 
a*. l4'.CorGabF 
61% 36 COrdis 
16% IV.CnrefCPS 
26 17%Corlni<iB 
T/ft TftCorctCp 
37% 9%concp 


2916 20 CrfcrBrt 
24 9*»CrTcW.s 
28 10 CnedSvs 

38 20 CrdAOJS 
33% 7V]CrasCpm 
39% OTV.CuiinFr 


_ 225 19ft 19% 19ft ♦% 

-2425 450 24% 24 24ft ‘ft 

JO 3b — 723 17% lift lift —ft 

_ 16 702 16% 15V. 16 +ft 

... _ 270 S 4ft 41 Vi. _. 

_ _ 73 13 12% 12ft — % 

_ 10 776 lBft 17ft 18ft ‘ft 

- 24 1835 60% 59 59 —ft 

- _ 3193 15*4 MVMVh — %, 

_ 16 47 16 15ft 15ft _ 

_ 38 1217 17 16*4 lil*. —ft 

.10 _ _ 7410 10 «-•* 10 ♦% 

_ 21 OTU 24% 23*4 24% —ft 

J3 .1 2 1581 a 71ft 71% —ft 


18 SftHtrvInd 
26% lVftHcrvI pf 
17ft 1 Bft Havens 

19 lOftHHMInc 
28*4 17 HltMSvs 
29% lSViHBCmp 
36 13ftHltWAms 
26*6 1 3ft HaartTc 
36*. a% HTtlndE 
Uft 9ftHchgA 
35% IlftHeflXTcs 

9ft 7!i> Hemcisure 


... 656 17ft 17ft 17ft —ft 

II 20 1ST. 13ft T3ft * ft 
_ 31 925 18ft 18 18 —ft 

_ 5 78 28% 27V. 77*4 — % 

- 22 6577 29ft 28% 20% ‘ft 

„ 33 65a 33 3lft 32". - 

_ 96 675 24% 23ft 23% —ft 

l3 16 990 lift lift n% I 

2.9 17 127 31*4 3DV. 30% —ft 

_ _ 80 3Vi 3 3 


13V. 7V]MlcWF 
4iVi»%Mlch5ir 


_ 14 3777 Bft 8 Bft —ft 

_ 1418884 15 14% 14% —ft 

.12 6 20 140 19% 19% 19ft -ft 

- _ 1864 12ft lift 12 -Vi. 

JO 2.0 — 873 10% 9ft TV. 

- 30 2433 43% 42ft 43 


Eft MftMjchNI ZOO 2-5 9 3639 BOft B0 


18*0 17 RFSHtl 
19*4 16% RPM 
lift 4%RodiCaG 
18% 7ft Radius s 

31% 18 Rofltex 
25 9%RcnnTc 


35% l5 , 7.McWor 5 

a% 9'AMicrAgs 
47% 18 Micrchas 
9% zftMicmcm 
8*4 4 ft Micron 
37% 18 Micros 
64ft 38 WUCSttS 
18ft 4ftMkrrtast 
35ft sviMicrcnSs 


31 UftHerbite bfl 5b 10 957 18 17% 17*4 — % 


30% aft MtdOcn 
25% laftMidlFn 
31 ft 72'f. MkJlCu 
35 aftMUlrHr 
30*8 18*6MScmln 

lV’-aSiraMissChm 
74 IT'.MMhSr 
a*4i5%MbrToi 
31ft Z3ftM«fine 
36% 13% Mohawk 
45 3U%Mc4ex 


aft 9fti«¥WtEs 
31*4 I2%HlwdPK 


28 13V.CustOi 
77 10 Cvonao 

471,18’iCvrLrCP 


41>. laftCvrk 
BV. 7’iCytogn 


_ 21 4739 25ft 23% 24*4— 1 

- 41 65 35*4 35ft 35% —ft 

-363 5492 11 9% 10ft ‘ 1 

38 u io 220 aft aft a% _ 

- a 361 70% 19ft 20Uu * ft. 

_ 13 2047 12ft 12ft 12*4 _ 

_ OT 7483 40% 38% 38*4—1% 

.. 16 540 40% OTV4 39ft +% 

.... 225 3% 3% 3Vi - 


8ft 3*4 Hmn Then 

» —M » ■ ■ — 

£o rwmeoc 

aft 9 HomeTBs 
34 24 Honlnd 

lBYkllftHombk 
25*4 15ft Hunt JB 
42ft UftMuntao 
a% 16% Human s 
41 21%HutcnT 
7V. 2 HvdrTOl 


_ 78 2071 30% »% 29*6 - 

_ 107 15*1 13 dllft lift — 1 
— 43 536 15% 14% 15% -ft 
_ 14 238 6ft 6%> 6 Ve ‘Vs 


_ i. jju aw aw ■ a*E -ft 

_ 16 98 35% 34% 34% _ 

_ 29 93 lift life lift ‘ft 

17 17 61 27% 26ft 2*6, ‘V„ 

- 24 153 1516 14% 14% —ft 

IJ 15 1398 16ftdl5% ISft-Va 


42ft29%M0toxA 
31 liftMoltanM 
a% I3’. I Moneys s 
19% BftMoiflPas 


- a 750 24 22ft a% —ft 

- - 647 Pi 5 Vi. 5ft — v» 


_ ot 39a 34% a% a%— a 

- 9 7050 12 1I%11'5%— 

_ 35 956 46% 45*4 46 -ft 

- S5 2221 u 9ft 9 9ft -% 

_ .. 2365 U 9ft Bft Bft ‘ ft 
_ 30 149 36ft 35ft 36*. -ft 
_ 3129299 63ft 61ft 61ft— lft 
_ 37 1580 17*4 16 171. —ft 

_ 53 2523 34ft 32ft33%— 1”/« 
_ 12 lin a a*, a -% 

JKa J (4 16 22‘. 71*4 22% -ft 

J1 U 7 1585 27ft 27% 27% —ft 

-5? 2J0 16 BO-l 26% 25 267* -V* 

- _ 487 29ft 28tk 28ft —ft 

_ _ 70S 17ft IS*. 16ft —ft 

_ » Ii ID 31 ID —ft 

_ _ 2277 20% 20 70 —ft 

S3 1J 18 219 30ft 30% 30% ‘ft 

- 15 7828 18% 17V. 17% —ft 

b4 .1 71 373 43% 47% 43 _ 

M .1 27 Z76 40V, 39ft 39*4 — % 

_ 909 22v. 21% TO —ft 
.19 .9 9 1 27 20% TO S% —ft 

_ _ 517 12*4 12% 12% _ 


12ft JWRdtys 
24% 12%ReLKa 
17ft 10ft RrodRt 
23% 12 Recatns 
26ft 15 Redman 
39 T6ftRe*Gfi 

n IBftRenCan 

25*6 11%RenaiTrt 
9% 4%Rntrefe 
5*i 2i?gep«> 

14 9ftR*pBcp 


aft 5 Resound 
11% 4VtReHx 
48*634 RetPHds 
72 7'1 RntlSun 

11% JftRjbilm 
18ft 13 Rictrfood 
11% 7ftRigsNt 
18%13%RI0H1I 
26’* 16 Rival 


S3 13 581 15*4 
2.9 20 B89 19% 

I I 1417 lSS 
_ a 46 19 
_ 16 419 15 
_ _ 473 4% 

- 20 22 aft 

_ 41 2394 17% 
_ 19 59 20% 

- 6 287 16% 
_ 33 139 35% 

4b 9 1498 3Bfe 
3J1 _ 12® 10ft 
_ _ 377 25*4 
_ 25 375 20% 
_ 32 1796 9% 

_ - 3099 4*6 

u 8 in 11% 

_ 77 680 10V, 
_ _ 699 SVk 


dh ivftHatPnr 


13V. u-kMoseem b4 3 _ 1451 8% 7ft 7ft ‘V. 


a 10ft l-STAT 
20V] SftlDBCms 
35',] 24ft IdexxLab 
7V. 4*6 IDM Env 
21'd0iv M ]EC Be 
OTft 25V.IHOPCP 
40ft IS kMRS 
ItVi 14'HPC Into 
15V, 6 l mu Log 
13ft 6ft ImunRsp 

22 lDftimunex 
28% 10% inFocu 
21 Tftlnocom 
20ft 13 IiuSooNV 
34 28V, tntnBrd s 
35ft 17%lnta5ofT 
39*. IlftlnfbRes 
78% I4V6 bitormix 
27% 9 Input s 
24ft 15% InsfiFn 


3.9 9 1101 79% 79%29IV., -V w 


I 24 42 21*. 31ft 31% I 
_ 18 3175 47 46 4« —ft 


32 TI'.DF&R - 31 15 38ft 27ft 28% ‘% 

aft 16*. DS Snc _ 12 164 25ft 25 35 —ft 

35 TTftDSCS .. OT 8075 31 79ft 29ft— lft 

29ft I7UDSG Int JSe 1.0 13 3 25ft 15*4 25 ft — % 

27V. 12V. DSP Gp _ _ 109 24*i 23ft 74% 

31 SftDomart-. _ 32 276 11% 10% II — % 

a%U% Dankos _ 3* 4237 21ft 21% 11% —ft 

19 17 Datscp _ 18 513 17ft 17% 17 1 .’] — % 

n 7% Dataware _ 852 13% 13 12% - 

27V] 2?%Dau0tin 1.00 4J 11 499 aft 22ft 73V a ‘Vy 

78% U'.'i DavdsnA _. 45 6050 36 % 75ft 36% —ft 


ju"i i.-iame m 5 

25ft IS BWIP 
I9*i SWBabone 
45ft 31 ’i BabvSar 


Mft 15ft Baker J M 

Sft IDftBrtvGm 
a". W. Ban Pone 1.00 
70 a Be One plC3J0 
45*6 24ft SncGalic 32 r 


_ M 713 17' * Uft 17'. *v, 
2.1 469 1304 19*. 18ft 18ft —ft 
_ 36 ID 13ft 13% 131] —V. 

- ... 888 44ft 43 43ft— 7ft 
A 9 1713 17% lift lift — % 

- — 2540 12'. 10ft llft.lft 


2a 30V] 30ft M’ft— 1ft 


21ft lift B* South J2 

2 1i 29 Barua 57 

% !7ft BanvnSv 
19 13'sBaretts ,12 
30' . 10 BaretRi 
]7V.2SV*Basset1F JO 
43*. lBftBavNtws 
15ft 9%BavRidoe 
bS 7 '.43ft BavBkS 1.80 
SSWaftBeOBatti 
39 ft Eft Bet IBcds JO 
76 16'v.,BellCabl 
16 7 BeHMic 

4g» 1 7%» Bell Sg l, 

S 0*i 12ft BeslFftrr 
5*-.3P6Bwoen 
13' . 9 Blomet 
7ft 2 Blasenra 
51. IftBloTcG 
15% 8ftBk*Bx5 
35 26ftBoalBnc 1J6 
23Vj laViBobEvn J9 
21ft 12*, Boomtwn 

41 *29 ' BtrelSc J6 


63 _ 130 54*. S3** 53ft — ft 
1 J 504 74% 76 26% —VI 

— 14 2635 21 ft 20 21 - V. 

3.1 10 916 17ft 17 17 —ft 

16 15 945 34 Eft 33V. —ft 

. 103 ISIS 17*. I7'i 17ft — % 

3 16 765 14* 13ft 14% .ft 

- 46 1 176 u21 Vi 20*6 21 -ft 

3b 16 27 Eft 27 77 


_ 24 12653 27*6 76ft 76V. — ft 


12% 9*.DovRun _ 14 194 16% IS 1 /. 16% +% 

OTftEliDeVry — 20 47 »ft 79% 29ft — % 

74 11 '‘Deck Out _ U 62 15*6 14*6 Uft — % 

45ft 19V6DeBCptr _ 24 7986 43% 41% 41ft— 1% 

27% lOftDdrina _ .. 61 14% Uft 1446 — 

47 OTftDentsalv bee 2 IS 2338 a*] 30ft OTft —ft 

34% 25% DeoGly 1.12 3.9 8 211 79% 78% 78% — % 

18 Aft Devons _ TO 7316 9% 8% Bft .. 

77*i !9%DiolPoe ... _ 254 71ft 71ft 71 ft —V* 

19% 1 Oft Dialogic _ _ 488 19% 18% 18*6 — 

32' . 13'»DlbrcTl bO 1* _ 701 21V, 2aft Wft _ 

74ft M' iDKJilntl _ 15 1074 16V, 16 16 —ft 

39 10 Diaidse 46 148 7Bft 28 28% +*’■■ 

aft TftDotlUW _ _ 970 a% 23 72 —1% 

30 SViDioMic _. 778 15ft 14ft 15 ‘ft, 

a 30 Diene. _ 16 39 37*6 Eft 37 ft —ft 

24ft 12''.-DiScZ*HH? „ 88 968 20% 19V, 30ft - V, 


_ _ 4192 U22% 20% OTY. ‘ft 

- 115 5082 9% 8*6 9 — % 

- OT 94 OTft Bft 79ft — % 

- - 2236 5ft 5% 5*6 -ft 

_ 8 643 Hft 11V. 11% ‘ft 

- 19 338 28% 28 2Bft ‘% 

_ OT 737 38ft 37ft 37ft — 1 
_ - 54 IS 14V, 14% — % 

- - 681 7ft 6% 6% —ft 

_ _ 738 Bft 7ft 7ft —ft 

_ _ 1842 Uft Uft 14% —ft 

- 34 1 652 U a ft 27*6 28% ‘ft 

- — 324 9% 9*6 9ft —ft 

- — 1OT Uft Uft lift - 

_ 68 1553 31% 30V, 31ft **» 

- -. 2235 34ft 34% 34% —ft 

_ 81 4984 16% 15ft I5v n — urt, 


Z7%14ft6tovieGai 
21ft 13 Muttcra 
39% 27 MuVmdh 


- _ 1 860 u 29*1 27 aft -lft 
_ 17 153 20*6 20' . 20ft — i/„ 
_ 12 230 29ft 281629'Vi. -'.ft 


- 2814074 Eft av.2F/it— 1*6 

27'i 9 Inputs - 17 4251 21*6 19ft 19% —1*6 

24ft 15% InsnFn — OT SZ4 20% 19*6 19% —ft 

29 ITftrrSicn - _ 36% _ 

16'.610%lnsilTc - 31 138 13ft 13ft 12*6 —ft 

42V, 24 % InsAut .. 39 623 35 32ft 34 ft . I 

34% llftlntoDv - 16 8985 30ft 28% 28".— A. 

29% UftimsnSv _ _ 903 26% 25*6 26V, . ‘V„ 

a% 50*4 Intel J4C A 1123338 63ft 60% 60*6— 1% 

19ft 12% Intel wt - -1517 14% 13V. 13ft —ft 

Wft lWulntlSros - - 160 2ft 7V„ 21' K ‘V. 

28 13*6 IritelEI 40 2J 16HU63 17 U 16% —ft 

14V* 3*6lntNtwk _ _ 1919 lft 3*6 3% — V = 


29 12*6lrtsfcn 
16'.6 10%lnsilTc 
42 V, 24% InsAut 
34ft tlftlntoOtf 
29% UfttatSISv 
73", 50 ft Intel 
19ft 12'-': Intel wt 


14V. 3*6lntNtwk 


_ _ 703 14 13% 13% — % 

3.1 11 780 58ft 58 SB — % 

_ 36 2712 28 76ft 37". — % 

1 J 15 *156 25 34 34V, — I 

- - Ml 21 23V] 24 

-. 14 1294 12% lift 1 1V, — % 

_ U 3999 18% 17V. 17ft 

- - 7108 Bft Bft Bft —ft 

U HUH 14 M 36 - % 

_ a 99 13'» 13 O', _ 


OT 1/ftOaBrGnl JO J 28 1938 29% 28*428'*, , — Vy 

26% OftDarfcenv - 10 5226 18% 17% 18% ‘V„ 

21 % 14% Dbkitree - _ 782 21 20% 21 ‘ft 


17 lOftlntrfcfn 24 2.1 14 *41 11% Uft lift— v„ 


34 24V.— 1 

23V, 24 *ft 


37% 18 Davatm 
15ft Bft Dres8 


_. _ 704 27% 26*6 27 -% 
_ 14 1403 10% 9ft 10% ‘ft 


31 % 21 % DreyorG J4 lb 45 74 25% 25'* U". —ft 


40% lAftDuracrfT 


» 1249 39 38ft 38ft — % 


20 14*6 Diriran s .42 2J 19 .437 18ft 18 18% -. 


1 7 73 U n 


II 289 15 U 
- -*23211 40% 37 


_ 124 3ft 3% 3% 
_ 1441 I'Vy 

19 386 14V. 3ft 14% 


8ft Bft —ft 
35 36 - '•« 

.._. .. 13 lift -% 

A its V>£V'.r™ 

3% 3 % -ft 

ll'*i. IWg -Vy 
13ft 14 V. ‘ft 


OT% 15*,DvtchC 

28% 14ft ECI TlS _ _ . . 

Uft SftEISIrin _ 21 1770 14% 14 14ft ‘ft 

28% TftEMPI _ 9 711 7ft d 7 7 —ft 

34 ft BftEalHrd _ 18 829 10ft 9ft 9*6 — % 

38 25V.- Eatnvan b4 TO 13 134 32 V, 31% 31*6 —ft 

8*6 3'6Ecroen _ _ 1889 3% 3*6 3% - 

48ft 9ftEdcAlt - 67 283 BV. 71ft Bft ‘ft 

11 Bft Egghead ._ _ 831 8ft 8% Bft - 

17% BftBcSd _ 13 SM 17ft 16ft 17% ‘ft 

50% 19 V. Octrois _ 17 904 42V] 41% 41%,—]%, 

39 V? 12ft ElcArl - 2119266 21ft 20 » —1% 

29%13%EF1I _ 20 Z3D7 Bft 26'/. 26ft » '.6 

t6% 11 EmmlsBd — 1000 15ft 15V. 15% — 

13% 3%Emulexs „ ._ 911 11% 10ft 11 —ft 


1220 30V. Bft 30ft 


.131 J 77 6646 19*6 18ft lBft —ft 
_ 21 1770 14ft 14 14ft *% 


11% 7ftlntOPh 
28% 70ft Interim 
Bft 2%mtrteaf 
17% 9 totrOn 
OT% ITftrmCbte 
77 15 irrtlmao 

18 7*6lntersiv 
18% 516 intvaice 
73'/. 27 Inluit 


- - 768 8*6 BU 8V1. — % 

- 19 907 E". Bft Bft —ft 

_ - 429 4*6 4Vi 4% ‘ft 

_ - 178 11 10ft 10% _ 

- _ 194 31 30% 30 V] —ft 

_ 31 402 77 26% 26ft -ft 

._ _ 932 17ft 16% Uft— ft 


3ift22%lnvoore .05 J 19 102 


- 22 380 15% 1416 14*6 —ft 
_ _ 2057 69*6 67ft67'V«— 1V« 


a 24 MAC Rr 
21 %14%NN Ban 
33 26ft NS BCP 

15 10V6NACC 
UftlOftNICPtr 
52ft26UNatGyp* 

9ft 3'*,, NT earn 
lB'W.IlWNtwda 
24 Vi 6 MatrWv 
Blil9% Ncuticas 
31ftB Melicar 

26 17ft Mel ShT 

18ft TViNerframe 
31 ilftNetimos 
a%l:V:NlwKG 
13*6 5ftNwfcimo 
9% 6ft NtwhSv 
21ft )5'ANE Bus 
16% SftMwtmog 

16 B*6NeWWrld 
Bft 8 NwpkRS 
54ft IBHNMMCm 

9ft 6%NbieDr 
40 aftNarand 
63 48%Nordsn 
49*631 Nordst 
19% 14 Morrrtl 
8ft7%„NABiO 
43 V. 35 V, NorT rst 
21%11’iNwstAirl 

13ft 6 NvrSttWr 
Bft 15 NonAftC 
26% uftNaven 
55'',22%Nov<US 
19". ID'.Naven 


N-O-P-Q I 

Re ~ A 14 513 27*6 26V. 27V. - V, 


•lie b _ 106 20*. 20% 20*6 —ft 
b U II 39 27ft 27’Vr27’Vr— ' rr= 
_ U 224 11*6 lift lift,— ^ *■• 

36 2-5 — 81 14ft U 14% _ 

- ID 407 35% 34". 347,.— a,, 

- 34 68 6*6 6V« 6ft -ft 

- 365 1025 1B% 18 1BV. ‘ft 

_ 14 974 »ft 6ft 6*1 —ft 

_ 19 204 JO". 29'. 29% — V, 

.. 35 1964 31ft 31 31ft -ft 

.16 b 20 1613 70% TO 20 -V„ 

_ 14 5054 Bft r . B —ft 

_ 45 1603 30 29 29 —I 

_ 26 3110 20*, HP* 20% — ft 
__ 1541 7ft 7 7% _ 

_ _ 991 71, tna 7 

bO <J 15 rS3 19 18% 18*1 -ft 

_ _ 413 S', 5ft 5ft _ 

_ _ 1773 13 12ft 13 _ 

-. 38 474 73". 23 73 

- _ 5948 21". 20%20 V„ — 

_ 33 5874 7% n 7% -■ ] 

78 167 39'. 38% 38*6 —ft 

jS 6 lb 74 15 ST.. 56^' ,56'*.' — ' ft 


... b B 3154 <9% 43% 43ft -% 

bi* J _ 715 19 17% T7ft — *i 

_ IB 1558 8% r*y 8ft _ 

B0 23 It 431 36% 35ft 35*i —ft 
_ _ 1199 TO - : 19».-, 19r .— ii . 


waaBssK. 

31*6 23V, RouCantt 
18% 13*6 RsvWFn s 
38 IB Roper 
18*6 IZViRassStr 
27 1 /. 12",Ralech 
20% 16% Rouse 
56*5 48% Rouse pt 
21% 13%RuralMet 
9% SftRyjmF 
30% 6%amcs 

22% 12ftSO Sys 
ffi%T7 SE1CDTP 
BV] ISftSFT^fl 

31 SMiSUvis 
59** 47*t SaSeca 
33% 30% Sttvl St 
39".24ftStJuda 
24ft 16'/.StPoul8 s 
31% lPAScnmma 
11% 4V.SmtC7z 
28ft thSawis 
2SV18 SCntffidC 
33% 1 TV, Sctmair 

79ft 71 schimns 
27% 4*6SdOone 
49% i9V,SdGme 
48% 25 5a'med 
13V. S 1 6ScteNav 
26*6 IS 1 -* Scitejc 
19*1 SttSa-eBdl 
20*/, 15 Scans 
28ft 18ft Seaaale 
51 ft 34 SecGop 


_ 35 814 lift 
- _ 1047 4% 

A M 81 lflj 
_ _ 383 9 

_ 17 27* 13% 
A 16 505 25*4 
2A 43 1643 55% 
_ 34 492 28% 
A _ 714 18 
lb 14 9 16% 

_ _ 1172 31ft 
Zb _ 1654 16 
J If 98 24% 
lb 11 2165 Uft 
_ 26 60 a 
lb _ 506 18V. 


_ If 3003 &ft 6 6% — U 

Bft 15 Non Me _ 14 108 17ft 17% 17"s — *6 

26' i Uft Novell _ 2433957 18% 18 lBft 

55% 22% Novi US -. 23 5422 52=« 50% 50* .—2 

19". ID'.Novfn _ ._ 955 15% 14ft IS -ft 

a IS NutCOWA _ 19 784 19*. 16ft 18'. —ft 

24V. Uft OM Grp 20 1.4 13 320 19*6 19% 19ft —V. 

!9*i 9 OPT1 .. IS 1205 IS 14ft 14% _ 

14% 5ft Octagon _ _ 1925 6‘ . 5ft 6% ‘ft 

I Oft IftOctaonwt .. _ 1041 2% lft lft — % 

OT ISftOael _ 43 18B 21*. 21% Eft _ 

17ft H%OMSLOO _ 13 360 13*. Uftm*,, 


S ftOTft ‘*6 
% 2»» * 'ft 


t 


OV, I3*iltron 
20ft lOftJAJ 5n 
41ft 17'/» JLG 
27% B JSSFn 
19% IlftJacorCm 


_ 37 151 73". 27ft Bft - % 

_ 14 97 lift 11% 11% .. 

J 14 79 37% 35* 3696 ‘ % 

3.4 13 170 24 Bft Eft —V, 


20' ■ 1 1'kSegunt 
32*6 12ft SvFnQuod 
30% 71 Vi ShrMed 


a% 9%siidwGp 

Bftlb'.iSharwd 
75ft SftShoflVtst 
24ft 20". Shuraard 
33V. liWSMvabn 


19ft 9 OPT1 
uv, 5*. Octagon 
10ft l%Ocfnanwt 


6J - 100 49% 

_ 27 100 21 

- 12 1204 7 

_ 44 912 14% 

„ as ms 19 

3 72 297 21 
lb _ 3BB 15% 

- _ 1331 6*6 

3.9 9 2499 50% 

_ 36 1007 32ft 
1.1 17 1627 37ft 
1J It 6160 20 
_ _ 2558 25ft 
_ 24 80S 11% 
_ „ 58 2'Vu 

_ _ 193 a*s 
S 15 x6 Bft 
-. 26 1396 48ft 
_ 10 438 17% 
1.1 M 1003 29 
_ _ 1HS 6% 
„ 18 KZ 48% 
-.190 41BS 47ft 
„ „ 1347 7% 

2A U 2172 21% 

- - 939 5 
_ 12 1072 15% 
_ 911318 27 
_ - 126 45% 
_ 131 2496 ?0 

7-9 20 24L4 29ft 
I 36 3 717 If 4 

2b I ^ jR 


a% 23% - 

17 17% +1 Tu 

19% 19% - 

16 16% — % 
34% 35% »% 
30 30 — ‘Vu 

10ft 1ST] — V H 
75% 25ft —ft 
20 20% ‘% 
Bft 9 ‘ft 
«H 4% —ft 
\1 “ 11 -ft 
10 80V, _. 

Sft 5% - 

46ft 47 —ft 

’i ft'iadfc 

’K T :» 

12% Uft - 
25% 25ft -ft 
53% 53% — 1% 
77 28 ‘ft 

17ft 17ft —ft 

15% 15% — % 
23 Vi aft —ft 
13% 14% ~- 

25% a ‘ft 
17*6 17ft —ft 
48ft 48ft — % 
20% 71 —ft 
6ft 6% —ft 
13ft 13ft — % 
18ft 18*4 - 

20% 20% _ 
15ft 15ft — V» 
Sft 5ft —ft 
49ft 49ft - 
38% 31 —1 

36ft 37 —ft 
19ftl9<Vii— 1 Yu 
24% 2S „ 
10ft 11 
2ft 2>Vu — </y 
a% 23% - 

22% 22% _ 
46ft 47ft ‘ft 
16 17% ‘ft 

28% 28% - 
6% 6ft +V. 

47% 47V,— Wu 
46% 47% - 

6*6 6ft —ft 
2036 21V. - 

4ft 4ft —ft 
15 15V 14 — Vi, 

26% 26ft ‘% 


14% 1D%UST Q 
41ft 13%URra§l 
6% 496UnilaB 




38*6BftU5 BcOR 
14ft 8% US Fad 
49 28 V. us tern S 
Bft 8*6 w Lana 
46 23 USRo« 
61 49%USTM 


• 23V. lOWUMVldeo 
M'AlOftUtdWsle 
51% 38MUnilrSn 1 
29ft flhUnvQc 
31ft lVAUrenOut 


22 2%VUTech 
15*4 4 VatVTs A 
M% 13ft VahUat 
29% lBWVgrda s 
46 ISftVentrrtx 
24%U%vemne 
20 lOKVertxPh 
30% IB Vlcor 
B% 13%VTcorp 

29 BftVkdBn 

23 TViVWeoL 

30 ll*4ViewlB 
32 21 VKtnas 
28ft 10V5VISX 
B% 12 Vmerfc 


_ IZ IE »% 

.44 1.9 U 178 23"% 

b U 31 202 IB 1 .] 

37 1J 20 220 25ft 

_ _ 3SS0 496 

t 111® M B% 

_ a 625 31% 

_ _ 1872 12ft 

_ B 885 19ft 

> 21 203 16% 

bOa _ _ 

boo 1J 9 1067 47ft 

— ' 35 595 17V, 

_ -.17645 21% 
„23i HOT d% 
-. 35 2941 43 
_ _ «3 9ft 
bl .1 64 1708 13% 

J6C l2 2? 25% 

_ -.17504 41 

- _ 4619 16 

I * Si ’K 
■“ « “ S? iffi 

“ -l t » Si 

1.00 2-7 13 ^0 37*6 

_ ll 1263 7 

_ 33 424 lift 

317 4 

_ _ if 1 
JO Zb 15 2524 
.OB A — 1533 a 

I 33 i0?i 38 . 
_ 40 5395 5 

Mb 'i 1 Ta IKS 
v “ “ \l *§32 ?35 
" 'f 35”S ^ 

_ a 3416 39% 
3b0 3J 13 485 61 
_ OT 751 Bft 
_ 71 203 M% 
UO li 71 MB 44ft 

- _ 639 6ft 

_ _ 2S5 30ft 

_ U 6461 13% 
_ _ 686 3ft 
_ - 671 4% 

_ _ 913 23ft 
_ _ 468 27ft 
_ 39 928 26% 
_ 20 1072 22% 
„ _ 59 13% 

_ 38 499 27% 
16 239 1 7V. 

JJ 2.1 - 5 a 

_ 11 1041 Sft 
_ „ 2070 22% 
_ a 809 31% 
_ _ 971 12%. 
_ 31 1268 17 


9% 91% —Vi. 

23% 25% — % 
6*6 4% _ 

13ft 13% — % 

8 a —Vi 

30% OTft -V* 

!& M^V. 

16 16V, ‘ V. 

46 

f} 47ft ‘ft 
16ft lift — % 
20% 20% — % 
4ft 4ft - 
47% 47%— 1% 
9% 9ft ‘% 
I2W 13*6 _ 

39*6 39ft— Ilk 
Uft 15% — 1 
19ft 19ft » % 


18S fo^B-rs 

a 25 —1% 

Uft lift -- 


19% 19ft ~Ma 


28ft 30V, ‘.1% 
6ft 6ft— ft 
14 14% ‘Vi, 


13% 13% — % 
6ft 7*, +ft, 
27ft 22ft —ft 


37% Eft —ft 
0 4% 4ft — % 

1 ‘ Y» 

44. 44ft ‘ft 
10% 10% ‘ft 


3Bft 38% ♦ ft 
60% 60ft ‘ft 
21 % Jlfe— | 
a% 23ft ‘% 
44% 44ft ‘ft 
6 6ft - V. 
30 30 —ft 

12% 12"% ‘ft. 
3ft 3ft ‘% 
4ft 4ft ‘ft 
22% 22ft —ft 
73 27ft,— V., 

25ft a -ft 
Bft 22 ‘ft 
12% 12V, _ 

25ft 26%— 1 
16ft Uft —ft 
24% 24% — % 
7ft Bft -ft 
71% 21ft -. 
30ft 30ft -ft 
U% 12 — % 

16ft 167u — Vi. 


48ft 37ft WD 40 ZS 53 76 64 43% 

32% 17% Wl-R Fd 37 U 15 113 a% 

31% liftwdbro 40 2J 11 145 18% 

60 29%WaBDatO _ 10 638 34% 

21V, lOftWcnaLab _ 638 4T0 13 

a imwFSL b* 4j a 1684 17% 

»V,T7%WMSB J6 *J 7 634 18% 

119V, 86 WMSBpIDibO 7b _ 3 87 

31ft 12ft WdtsnPh „ _ 27 236 26% 

29 B Wathlns J2 .9 17 <34 74V. 

OT 21ftWou&P 3 J4 lb IS 2DS4 23ft 

25% 18 WbPFn 32 13 7 53 21% 

27 16 WlHbin _ 17 10 a 

30 UftWHlMot - 29 OT 23% 

aft Bft Warner .10 A 19 319 26% 


42% 63% ‘ ft 
25% 25W — % 
IB 18% —i % 
a 3* -ft 
12ft 12ft - 
17ft 17ft — % 
17*4 II +% 
86 0b — 1 

a 2t% - 


23% 23%,— •%. 
a% 23ft ‘ft. 
20ft 20*4 
24ft 24ft — % 
73 23% — ft 

25ft 26% ‘V. 


32% BftwestOne bl 11 10 101 Bft 


24ft AftWsfOOtS 


_ 21 61s 13% 


14% 13%W«terted .lie 1 J _ xltK 13% 


27% 28ft. ‘’-V 
17% 12% — % 
13% 13% —ft, 
lift lift -% 


26% 26ft ‘ft 


29ft 29*5 -1*5 


20ft 9%WshlPb 
31 17 WstWatr 

19% 12ft WstpfSlv 
11% 5% WstwOn 
37ft 29 WhlleRvr 
25*4 ISftWNFd S 
30*4 9%WhotHtV 
24ft 12% Wfldlb 
59%40ft WHKmt 
35% 1 1 *4WmSon s 


- _ 104 12% 
_ 44 3OT 27ft 

- _ 1150 15% 

_ _ 348 9% 

_ _ 77 32ft. 

_ a 576 15ft 
_ 70 440 1PA 

- - 324 16% 
.96 2.1 B 1110 46 

_ 53 578 OTft 


27V. 27% — % 
15% 15% —ft 
9% 9% *(% 
32 32 —1% 


32 32 — 1% 

15 15*4 ‘ft 

14% 14*4 ‘ft 
15*4 Uft ‘ft 
45% 45% ‘ft 


29*4 Z3ftWlm-nr LOB 4J 11 165 25% 


8% 21%. Wins! CK _ _ 152S 7Y U 

46% a WtecCTS - 21 S3 46% 


16% 6ftSierSm 
20 AftSkjmDg 

41 lSftSkvWesf 
Uft 5 SkytXK 
Jlft UftSmthF 
32ft IlfeSnoippie 
36% to Sodok 
a 10*4 Soltdesk 
20% 9*«Soflkey 


27% 12 Wondwre _ 48 2243 25ft 

a% liftWorthgtn A0 1.9 21 34OT 21V, 


17ft BftEkSCl 

KWBesr 

29ft 13‘iEFII 
16% ll EmmlsBd 
13% 3%Eirn4ex s 


19% HftJocorOn - _ 415 Uft 13ftl3ft» +V, 

45ft 73Vi JeffrGp JO A 9 256 35 34Vn 34ft *1 

a% 12ft JefSmrf _ -.1194 16ft Uft 16% —ft 

OTft 18 JahnstnA _ 34 WO 19ft 19 19% — % 

20ft 1| Janet A _ _ 290 Uft ISftlS'V,, +V U 

If 17%JunoLf 20 lb 16 286 19 18% 19 ‘V M 

31 ft I0*i JustFFeet _ _ 11 Mu 32% 30ft 31 
18 10 Justin .16 1J 10 1140 13% 13 13% *’/. 


17ft IlftOMsVOO _ 13 360 I3ft 12%12<*„ 

OT*.a%OnioCaS lb6 47 11 511 31V. 30% 31% -».l 


35*«29ftOh».errl 1.24 X9 10 1530 32U 31'. 31% — V, 

15% fiftOficum _ _ 547 11% lift 11% —V, 

14% 4'/.omegc£n _ _ 765 6ft 6 6ft —Vi 

37ViUftOrtJC» IbO 3b 7 43 27’ft 26ft 7i'\ —ft 

10ft 4ft Oncer .. _ 197 5% 5 5 

45V. 18 OneCam _ _ Ui7 Bft 21% 71% —ft 

B 10 OPtdDl _. 2S1512ii23% 21 % 23% * 1*4 

44% aft Oracle S _ 4114170 44*. 43ft 43ft— 1ft 


38% 20*4 X Rite .16 A 37 I263U40 1 
16ft iftXcttWet 1037 16 


16ft 6ftXaeWtet _ _. 1037 16% 

59ft 29 xmnx _ 79 4391 56ft 

28% 12ft Xircom _ |8 1907 17% 

22% 12 Xpodila _ 43 511 22ft 

31% ISftXyknic - 27 639 29% 

rw?ga? w « "71 ass 


“7ft 

20 13 19V. 

a 1981 u 14ft 




4.9 _ 144 19% 
_ 7 1013 19% 

I » 1012 41ft 

:5S SS 


15ft 16% ‘V. 
45% 45% ‘ft 
a% -. v “ 

h si m 

74% 25% ‘% 
20% 20ft — % 
38% 39% ‘1% 
16 Uft _* ft 

32 Bft 
Bft 29% ♦ % 

11 I s :S 


AMEX 


12 Month Ss 12 Month 5U 

uai Law Stock Oiv YM PE late Woh LowLdedOrge UphLow Stuck DN YW PE IPOs Ugh LowLotestOroe 


12 Month Ss 12 Monti Ss 12 Month Sts 

Ugh tow Slack Dtv Yld PE IOOs High LowLttestOi'ge High Law Slock Ojv Yld PE IPOs Hi^i Low Latest Oi-B* Ugh Low Slack Oiv VM PE 100s Ugh LgwlgtestOfge 


Friday’s Closing 

Tables Include the nationwide prices up to 
the ctosinq on Wail Street and do not re flee 
date trades elsewhere. Via The Associated Press 


5 2ft Comb wt 
2% 1ft Camp wtA 
7’.» m.Cambrx 
Sftli CdnOco 


13V* 9ftCapRtyl ... ._ _ 

17% 9*,CapRI2 ,96 10b B 
13% 9 %EodRI 3 1J6 15b 17 
14% 8 Cannotn „ 51 

16ft VftCastieAs JA 2b 12 
77- 22%CasPd IbOa 6b - 


-20 J 13 
AO „ _ 

.96 ?b OT 
.96 tob a 
1-56 15b 17 
_ 51 


17 Month 
ugh Low Slock 


Sis 

Dtv Yld PE IOOs 


2»A.aa» * “ s 

12V, 8ft AM Intln _ 

14% OftAMC _ a 

26'VM'.AMCPf 175 7 A ._ 

4Vn 2 ARC 6 

26'.s 20ft ARM F pt 2J8 11J ._ 


1 7% 1 1 V, AOvMon _ 

2 ftAdwA/ledT _ 3 

5 IVu AduPhai ,. _ 

16% AftAirWat _. _ 

5% 2>Vii AlrOire _ 294 

3>Vi, 2%Alrcoa _. 16 

7% o Alamoo ... 18 

2%AtenSln I ” 

% ViiAlertCWt _. _ 

18%15ftAHaoann 1.44 9.1 _. 

2% %AH\n _ _ 

11% riAllBRsh _ 24 


*27 8% 8W 

4B 36% a. 
2D 9% 9ft 
IS life 10ft 
ot 73ft a 
549 2% 2% 

135 21ft 21 
541 2% 7%, 

86 66V. 65ft 
73 6V1 6ft 

2 3*11 3ft 

J I’* 'IS* 

as 7*. 
55 lft 1% 
107 15V. 14% 
846 1% l'/u 

IE lft lft 
268 6% C 16 

39 3 2 , V b 

BO J 3 
79 6% ift 

5 lift 11% 
66 7V|, 2'Vu 
23 V M V,, 


7% 3. Alphaln _ _. 

*% 4%AJpmGr ... _ 

10 ft 4’/i,AmdhJ _ _. 

1ft ft Amhllh _. _. 

14*4 VftAFstPT Ib5 14b ... 
20 V. 15%AFstRT IbO 9A _ 
MftOTWABkCT lb3 6.0 6 

OT UftAmBrtts .15 A 9 


381 16 15ft 

67 1 ft 
87 SI, Sft 
,87 8% ■ 

138 7% 7 


8% ‘ft 
36% —ft 
9*o 

10ft — % 
23 — % 

2ft ‘V, 
21 — % 
ZV H 

■ss-i 

k 

8 ‘ft 
lft 

15 — % 

1% *V W 

2-V,.^ 

6% _ 
lift -ft 
7V., _ 

IT 


17 llftCavalHi bfl 
■»ft iftCenTTcn 
T’u *i,CenlTc wl 
;%17ft^rPrn 1JC 
6 4ftCFCdag bl 
faViMftCenMrt 150 
IB UftCentSe 165 
13ft 7 ffiCm 35 
8ft,5%dlOdA A0 
5% l'VuOiDevA 
5% .2 CflDsvB 
40ft UftChpEn 

.11 

ijo 

11 17 V* Chief 

28ft Bft Chflntpf lbl 

life BV,arcoPn 


IJO Bb 
bl J _ 
150 96 _ 


35 1 4b _ 
bOt 5b 24 
- 40 
_ 41 
_ 11 


10 ?% 
£ S£ 

65 9ft 
12 9% 

Of, 9% 
62 10% 
*23 14 
12 M% 
22 10ft 
71 12ft 

«c ?y. 

49 2ft 
8 18% 
243 5% 

^ 17% 

3 B s 

642 

125 S'?. 


3% 3% ‘ft 
Ift lft ‘V, 
Bft 23% — % 
74ft 74*6 _. 

9ft 9ft _ 
?% 9% _ 


*! JuftSSriCn 


9ft 9*, ♦ ft 
10% 70% +% 


10% 10% ‘% 
Uft Uft —V, 
24% 24% ‘ft 
10ft 10ft ‘ft 
12 V, 12 % —ft 
» 9ft — % 
2ft 2V„ ‘Vu 
lift lift _ 
5 5- 

36% a% ‘ft 


1*Va ftGhAuto 
7*Vi, Vi.GanKInot 
10% 7 GnMIcr 


LaA % 

17 17 13ft 


S B :s 


7ft 7ft — % 
7ft 8 ‘ft 
2 2 — %, 
id!* 


13% 9%GenvDr J4b 
26ftl9%G&il« .72 
9 fcftfotanCR .16 
19ft 17ft GlcWafr 
19ft 14ftG%ttH JO 

1% rcssoffi 

"ft IftGoVd WT 

6ft SftGaldcpA n ,10e 

6ft AGddgfln .10e 


.11 J 13 
IJO a 4.7 » 


10 lift 

T* sw 

248 13% 


8ft iftdlizlnc 
Tft VnOinicp 
Bft 6 Coasrb 

i|ft 

10ft 8%^bina 


18 23ft 

2485 u 16% 
181 4V« 


_. 9 

48 73 : 
- 43 


7ft StiC/nclAsf 
25V, Il'ACamptefc 


.941103 (9 
A0B 6? I 


15 7ft 
687 % 

3 jS 

11?? ss 

!079 4% 


-% 

Z3J9 34 — % 

16V. 16% ‘ft 
lift lift ^ft 
29 29 —V, 

13% 13% ‘ft 
23% 23% _ 

14V, 16% ‘1% 
S. 4 — Vu 

7% 7% I 
V* .% 


6% SftGaUcpBn 
17ft BV, GkEtarR 
. fe ftCWFld 


13 SftGIdwSam _ 

20 15% Corn ups A0 3.0 

14% lOftGrdtcm _ 

fit 5 % gJSS,° I 

7 iV'GmTei n _ 

11% llftGrSKA n - 


2< » 19V, 

61 597 16 

._ 132 3% 

_ 60 Hft 

18 A 'ft 
iU 

I lfi& 

4- 1 * 

36 16 7% 

14 X2B 16% 

I 7* 'IS 

_ 21 6ft 

:: ^ if4 

_ tm 2% 


13V. I3ft ‘% 
% % _ 

2* l" I 
life ia% ‘fe 

Bft a ♦»/* 

7% 7% _ 

19*k 19% ‘ft 
15ft 15V. *% 
3% 3% *% 
11% 11% _ 


15ft 10ft M 5b 14 471 

„* ms 1 n ss 

lft '*i,Mcrlton 75 1 

15% 10% MassHE J6a7b .. 167 

,4ft 3%Motec _ _. 5 


15V. 15% ‘% 

2ft 2 "'h *'ht 


II 5 MOTOHry 

il§i?:®£ 

16%i0%MedcR 
11% aftMedero 

4% 3ftM&^ C 


ulv, 1*., 1*%. 
Hft ,0ft ,1% 

10 ,0 ,0 
■audio 10 

4ft 4ft 4ft 
35". 34ft ZSft . 
12 lift lift 


25%i4%PivGem 
46% 29% Polar Ind 
7ft JftPtHvPh 
l?ft 4% Ports vs 
4*i 2ft Portage 


.12 A 
ZJ2 5b 


10% i%Prair 
Bft SftPraft 


11% 10% 10% 
29 Uft 28". 
2 m. 2y„ 2V„. 

I'll I'll IVu 
2 ft 2 ft 2 ’’ .. . 
3%* 3".'], 3ft 
Bft 8 8% 

3ft 3 3ft 
14ft d 14ft 14% 
6ft 6ft 6ft 
IVu IV- 1M. 
% . _3* ft - 


5ft 5Jk — lk 
6V, ife — % 


aft 4>/iMedOs> 
7% 2ft Merit! Hit 
17%14V.MrohGj 


.6V, 6V1 — % 
lift 11% —ft 
ft ft 

.Zfe .7% ‘ft 


17ft 14V. MrctlGp 
7 3Vu«lencAlr 
2ft I’/.MerPrt 


(1 

JO 14 E *20 
_ 6 173 


wa 


1% w-MerPli 
4V— ZVi.MerPi Pf 

ft 


EE i 


%• Jfe ‘9— 
6 1 *. 6% — 
.5 5- 

11% lift ‘ft 
ijy„ 2v- 
'V- 1 _ 


_ _. 3047 lOVi. 10ft 


69 lft 1% 
17 10ft 10ft 
8 15ft 15ft 
15 Bft 22 
1 24ft 24ft 
3253 IV- IV- 


lift 13% AJM 85 I At 9.9 10 

UftllftAJMUn 1.20 10b 9 

15 llAAIMBSn lbia 13.9 If 

52, 3ft% Aisrael J3e 1.1 94 

19V. 14% Am List bOb 4.6 15 

24% 15 I ‘« AAAzeA 64 2b 12 

BftUftAAAzEe 44 29 l| 

14ft 6ft Am Pag n ,, _ 

4% 6%AREInv bl 10b ... 

lift 7 AResir A4 9.1 4 

6ft 2ft ASdE _ ._ 

3»i V-AmShrd ... „ 

*> 3v-ATechC _ 13 

13% 6ft Ampul ... 34 

2ft '/• Ampai wt _. 

ii" 1 'IJS -3* 3.2 9 

29 9% Andrea _ von 

AngMla 34 

lift AftAnunco _ 79 

14% 5ft A proof » ... _ 

If, Arirttm 

ID 6% Arrow A _ 17 

Uft 2ft Arhvtti _ lj 

4? 1* 2 Aslrotc _ Jl 

12*. 215. Atari _ ... 

. ft '-AnsCM _ _ 

3 l,, i» I Altos wt _ 

18ft 6%Audua> — 9 

Ift v,,Audrc _. _. 

eft 4%AurorEi - 10 

2?’, 7 Azcon - _. 


4 26ft 26V, 

185 4% 4ft 

103 3ft 3ft 

5 Uft 14V, 
IB 11% lift 

OT Uftdllft 

1 47ft 47% 

2 17% 17*% 
32 Bft Bft 
35 Bft 22ft 
B4 7ft 6ft 


15*1 —ft 
1 -v. 

Sft ._ 
Bft —ft 
7ft 

Sft ‘ft 
10ft —ft 
lft -% 
10ft —ft 
15% _ 

22 —ft 
24% ‘ft 
IV, — V— 
2A>, 

4% _ 

ifvi ‘ V “ 

11 ft — V. 
lift —ft 
47% —Vi 
17% _. 

-% 
Bft - 


W, 7-Cmplrt 
10*5 6*iConcdF 


6% —ft 

2% 

9ft 9% ‘ft 
4V- 4'ft, — V- 

9% 9% —ft 
18% 18% - 
6 6 _ 
14% 15 Vi ‘ft 


lft 

k && 

3% 1 ftHafl Rtv 


i ^ KitSS. 


ft IAW& 


1 1 

AO 3.1 a 
_ 74 


A 9ft + ’1“ 
12% 13 — % 

Sft Sft —ft 
2 2 —ft 

10% 10% _. 
15% 15ft —ft 
5% 5% ‘ft 
16% 16V, —ft 
15% 15% ♦% 

15ft 16 _ 

2 W- 2 ft ♦ % 
18% 18% —ft 
2 % 2ft —ft 
1% Ift —ft 


Uft B*« CC 
17% 12%Cri 
12% 3ftCn 
24ft14%Oi 
23% 13 & 


JS 2b _ 
.64 4J 29 
- 4 


,J ! A 

168 15% 


5% TftCriiisAm 
23% 17% Cubic 
4% 7ft Custmd 
4ft "iCvcomm 


7ft 3ft HonoOr 
7fe 3VuHonvD" 


3VuHonvCHr 

VuHonwtS 

'V-Horker 


2ft 'V-Horkeri 
5 3ftHcrtvn 
14% 7% Harold 
1 ft Harvey 

38 mupsss, 


fi 176 5ft 
_ 37 6ft 

-. 100 ■%. 
3 3 9ft 

9 3 7 

72 2« Sft 

- IS XVi, 

= ^ 5a 

79 96 AVt 

24 653 4ft 
_ 100 V- 

„ 1005 7V], 


3"i1 Sft— V- 
4% 4ft ‘ft 


Sft 3 MerPt tof 27t> 4 J _ 4 

6% 5ftMLUS96wt _ ._ 290 
5% ftMLDMpwt _ _ 120 
13% aftMerroic AO 4.7 7 A 

17ft 12ft MefPro 25(15 16 64 

26ft 15ft MerrBcsh b 3.0 Id 50 
I Bft 10ft MetrtJk 40 14 11 IS 




40 16 11 IS 
J7eiai 9 5 

- 11 1639 


ift, 'V- — V- 

r 7-=fe 


OT*. UftAAidAec bOa 3A 13 12 

Iflfe BftMidafRty b4 9J _ 38 


5ft Sft 
2ft 2ft— ft, 
3ft, 3ft ‘% 
5% 5% — % 
TV- Jdft —ft 
4. 4% ‘ft 


Idfe BftMidafRty b4 9J _ 
46% 34 IftiOnd J8 lb 18 
7ft iftMBwLnd _ _ 

15% lOftMinnMul b3 7.B - 
lift 8%MinnTr2 Jf U .. 
9*4 7 MoogA 


ft 

14% llfti-tasrKtnd 
14% 9ftHaica 
■ 3%HaMWr 


— lUu <*l| 

n 3U 3*5 
26 137 11V, 

77 IB4 

n ll ?as 

i its ,a 




IB 10%MAfled -. 10 47 

3 ' ^MS(?5COn l I 77S 

21% 17V.M5 IGT n 123 U - 747 
64 55V. MS TMX n!78 6J - 61 


9J _. 38 

1A 18 9 

_ _ 22 

7.B _ 79 

6J -. 7 

-47 6 

-. 10 42 

_ 20 
_ _ 7752 


13 7ft 7*» 
17 /v, 7 

131 ift 5ft 
129 </- ft. 

15 TV- 3ft 
278 7% 7% 

M V. 'ft, 

a lift 11% 

389 22 % 21ft 
.54 5% .S’-* 

3Uull% 11% 
103 9 Bft 

?! y>* L v “ 


10 1% lft 

1U 7ft 7% 
<93 1% Ift 

756 SV. 4% 


7ft - 
7. —ft 
6% ‘ % 
■■% - 
3ft 

7% _ 

% _ 
11% _ 
21% —ft 
5% - ft 
lift -ft 
8ft _ 

2% I 
6% ♦« 

ii! I 

7% — % 
1 *t — V- 


3% 2HDRCA 
3ft lftDdcotoM 
9% 6. DortHd 
.6% 2%Ddtamet 
10% 4ftDctorom 
7% 2'Vu Davslr 
4 1 Davstwt 

12% 7ftDecurat 
a*. 5% Delete 

37 2' >DO«_r*j 3 

26 V, 1 7ft DevnE 
5% TV-DIag A 
3ft 'V-DiakOT 
ft ftDiglcn wt 
9% JVuDtSltCT 
12ft 10 DIIMAC 
19ft 9ftDimarhS 

foS’^g?^ 

1 1 a'.DrWMu 
Hft aftDrylNY 
Sft 2%Ducorn 
Mft BH Duplex 


2V- 2V- *i/„ 
lfe Ift ‘ft 
7ft 7ft ‘% 


14ft 9ftHoica .15 1J 
I 3ft Hein Wr J9I SA 
7ft 1'VuHaKanet b3t 1J 

uaiKtraj 1 500 1 


H tin ‘% 

32^ 33VV —ft 
27** 27% ♦% 
14% 14ft ‘ ft 
V- ft ‘ft. 
Ife. lft . 
Uft 12ft —ft 
9% 9% —ft 


3% ''I-M5JYPW1 
7 3ftM5J9Awt 
7ft 4 MottHd 
3v— 1 MovieSIr 
11 a%Munim 


_ _ V» 
_ _ OT 

I “ W 

J5 6J _ 191 


10ft 7V.ll/Uinmt At 9.1 1077 

15% 9%MunylAZ JS Ll „ 27 

15 9%MunA22n bl Bb _ 52 


19ftl5%MvtHins 
10ft 4V-NTNCOm 
11% 5V.NVR _ 
5*6 W-NVRWl 


544 5ft 5ft 5% — % 

57 4>M, 4W|. 4ft— Vu 

420 3ft, OT- 3ft “ 

415 1% lft 1% ‘Vu 

152 10 9% 9% —ft 

OT ift 6 '5 ift ‘ft 


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_ _ 453 
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74 V. 24 V. 24% 
17 lift 16ft 
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17% 17% 17*4 ■ 
8% 8% 8% 
41 40% 40ft 

7 7 7 

10% 10ft 10% 
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13% Uft 13% 
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57% 56% 57% ‘ 
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7V, 7ft 7ft - 
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16% life lift 
7 6% 6% 

5V, Sft Sft 
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27% 27*. 27% 
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14 25 9ft 9ft 9*J 

17 « 19% 19ft in* 

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15ft Uft TherRen .15 b lb „ 22 

lift 7 ThrVoB _ 39 3 

10% 7%Thmoban „ _ 133 

lift 12 Thnmatx _ 295 SB 

SO. UfeThraaFs _ 25 327 


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IVu ft Triton wt _ _ 5 

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17 18 15% 15 


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15% 12 PuiNY 
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42 14ft 14*., 14 ft 
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4 13ft 13% 13ft 
285 12 11% 11*4 

46 HWdllft llV, . 
119 10ft 10 10ft 
29 12 dll** lift • 
203 Tft, .2ft 2ft 


8 4W-RBW 
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39 73 RadLn 

5% 2% Redaw 

3% V.RdhvwfB 
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lift SftRetOC 

rerew 

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231 TV- l'/u 1% 


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44 8% B’A Bft *% 

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4ft 3 Irttvwr 
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38ft life hnwCp 


106 15ft 15 15 —ft 

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47% 47ft 47ft 
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6. lft US Ale 
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7ft SftVREFII 
lft ftVtt?sh 


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lift 12 Salem a AO ZJ 19 74ul9% 16*1 17% ‘ft 

531-5 4 1 SrtAMGNrt-r* 6J _ 3 51% 50% 51ft ‘5 

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32*6 31ft 
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7 67k 

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17ft 17ft 
17ft 12ft 
9% 0 9% 
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re=r 


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9% 9% 9% . 

11% 11% 11% 
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254 3% 3% 3"u • "u 

15 ft ^ 

25 6 Sft 5% _ 

16 dft 4ft 4% _. 

75 3% 30% TV,, -fe 

aA || ft 

15 3ft 3ft 3ft —ft 
71 Ufe lift 12% ._ 

5 2fe 7ft 2ft ... 


38fel4fthmxCp JIS .3 
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1 F 60 5.9 

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lift 8K Lauren 
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4101 18% 17ft IB —ft 
11 9 0 8% Hft — % 

14 9% 9% 9% —ft 

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15 % % *6 ‘Vu 

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163 6> 6% 6% — % 

1 «W U 4Wu 4'Vu — Vu 


^ 1'^ Olsten wt 

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life VftOnMJbt b3e 7b 
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12% 6%OriolHA bffl 7.9 
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26%20%PGEafO Ibi 8b 
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U 36 9% 9ft 9ft —ft 

73 1 34 34 34 ‘ft 

72 553 34% 33ft 33ft —ft 
, A 3Vu 3% 3ft— «u 

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_ 28 ft ft. ft _ 

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7 67 I5ftdl5% 75% — % 

9 1 7% 7ft 7% _ 

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lift lift 
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Saturday-Sundry, 
November 5-6, 1994 
Page 15 




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HE sttay is widely known: The 
.counuy now. called the United 
States joined the industrialized 
__ ‘.world with the advent of railroads. 

• With “W new transport network came a 
■ seiKe of unity, improved communication 

- -and wealth. And those who invested in the 
-*• railroads became wealthy. 

• .’• Unusually for popular versions of histo- 
:• stoiy is largely true. Except, that is, 
.Jor the part about investment. Many for- 
\9hmes; were made out of railroads, but 

.those who did best had businesses tha t 
.blossomed with the benefits of the iron 
road. Investors committing money to rail- 

- road companies themselves did moderate- 
ly.:. ‘ 

The parallels between the J9th centu- 
r ryfs. iron road and today’s information 

• superhighway are impressive. 

• First is an obscure pioneering spirit that 
, is propelling companies to lay down infra- 

• structure without quite knowing why they 
are doing so. And if they do know, they 

- have done a poor job of explaining them- 
selves to financial analysts, most of whom 

• certainly don’t. 

Second is a general atmosphere of law- 

• lessness and piracy as inforxnatioii compa- 
nies engage in Trangh tineas ranging from 
reverse-engineering microchips to just see- 

- mg what they can get away with m coun- 
tries where regulafion-is lax. 

Third is the likelihood that it will be the 

• users rather than the suppliers of the high- 
way that wilf make money. Interactive 
data exchange already costs Htde more 
than a phone call- Intense competition 
will make it impossible for builders of the • 
highway to charge its users a tcdL 

' The winhers may well be those who 
wmk out the cutest way to use the infor- 
mation ■r ream. P ossibilities include inter- 
active CD-ROM talk .shows in which 
members .of -the public contribute short, 
self-edited packages of voice, muse and 
' image; There - are many, many other qp- 
tt^ons — but to sucoeed, all will require not 
just technical skill, but creativity. . 

“ . • M3. 


Will Co mmuni cations Mergers Pay Off in the Long Run? 


By BaieNetzer 

T HE PAYOFF, when it comes, 
wfl] be huge. Telephone, cellular, 
cable and media companies have 
announced a string of multi-bil- 
lion dollar inergers and alliances in recent 
months. And well-positioned investors 
stand to benefit from these companies as 
they restructure and re-organize to feed 
households around the world with wire- 
less telephones, interactive cable televi- 
sions and high-speed, on-line computer 
information services. 

Financial analysts wain, however, that 
tangible, bottom-line results from this 
flurry of high-tech two-stepping are years 
away. Before profits roll m and share 
prices beam upward, these companies face 
massive investment to develop new tech- 
nology, install the necessary infrastruc- 
ture, and develop easy-to-use equipment 
that can help consumers overcome their 
fear of pressing the wrong button. 

For some companies, merging or affi- 
liating themselves with other concerns will 
also require clearing a number of regula- 
tory hurdles, both in the United Stales 
and abroad. And many proposed deals 
have fallen through before regulatory ap- 
proval ever became an issue. 

"The number of failed marriages has 
been much more interesting than the num- 
ber of consumated marriages,” notes Bri- 
an Stansky, a media analyst at U.S. fund 
giant T. Rowe Price. 

Indeed, while the $1 1.5 billion acquisi- 
tion of McCaw Cellular Communications 
by AT&T Corp. has led investors to spec- 
ulate on other possible merger candidates, 
the deal — which paves the way for AT&T 
to offer wireless local phone services — is 
one of relatively that hasn’t hit the skids. 

In September, for example, long-dis- 
tance company MCI Communications 
pulled out of its $1.4 billion agreement to 
acquire 17 percent of wireless telecom 
company Nexel Communications. In 
April, a $4.9 billion deal between SBC 
Communications, formerly Southwestern 
Bell, and Cox Cable faltered. And one of 
the largest acquisitions announced last 
year, BeD Atlantic’s $21.4 billion purchase 
of cable company Tele-Communications 
Ino, known as TCI, also collapsed, leav- 
ing debt-ridden TCI searching for a part- 
ner to hdp it break into the local tele- 
phone business. 

*T think we will continue to see relation- 
ships derelop and companies working to- 


gether,” said Robert Morris, a telecom 
analyst for the New York brokerage Gold- 
man Sachs, speaking at a forum last May. 
"But we probably won’t see the mega- 
mergers unless we get significantly 
changed valuations.” 

As the AT&T deal shows, expanding by 
acquisition in the profitable telecommuni- 
cations field requires massive investment. 
For some companies, however, a less ex- 
pensive alternative has been to form cost- 
sharing alliances. For example, three U.S. 
"baby bells” — Nynex, Bell Atlantic and 
US West — formed a partnership with ihe 
cellular phone concern AirTouch Com- 
munications last month. And a few days 
later, long-distance telephone carrier 
Spxint Corp. announced a plan to work 
with three large cable companies, includ- 
ing TCI, to offer local long-distance and 
mobile telephone services. 

Observers say that such alliances come 
with 'their own particular problems. "A 
merger is more expensive, but you buy 
control so you can direct how you want 
things done,” said Jim Golan, an analyst at 
Kemper Financial Services in Chicago. 
"Many alliances in the past haven't worked 
out too well because they were controlled 
by an operating committee and you ended 
up with too many cooks in the kitchen.” 

In Europe, a number of companies are 
also for ming joint ventures to offer cellular 
phone services or to build new digital net- 
works that allow data and voice to be 
carried over the same lines simultaneously. 
In Italy, for example, the Olivetti Group, 
known for manufacturing office and com- 
puter equipment, plans to work with Bell 
Atlantic, Pacific Tdesis, Sweden’s TeHa AB 
and German machine producer Mannes- 
mann AG to launch a mobile phone net- 
work. The French construction company 
Bouygues also recently won a license to 
operate a cellular network with Germany's 
Veba AG and US WesL 

And in preparation for its 1996privati- 
zatiqn, the German Bundespost Telekom 
has joined France Telecom in buying a 20 
percent stake of Sprint Corp. for $4.2 
billion. The two public monopolies hope 
to use Sprint’s technology to build a pri- 
vate digital network for multinational cor- 
porations. 

But, “It’s still a zero billion dollar busi- 
ness for many companies,” until the digi- 
tal networks are actually up and r unnin g, 
warned Cathy Dobson, a department di- 
rector at DB Research in Frankfurt 


v 




Television Sector’s Future Looks Fuzzy 


By Rupert Brace 



S the tdeviskmindns- 
Ery evolves into its 
21st centuiy form, the 

.metamorphosis is 

fifcdy to create some big win- 
ners and some big losers. 

~ As media companies scram- 
ble to position themselves for a 
"multimedia” future, moreover, 
soine' analysts believe that the 
fusty, <nd-of-the- millennium 

- picture, is becoming a little 
clearer, which has sharpened 

- thdtvjews on which cor 

and: wha 

. fade.. 

The multimedia concept, an- 


alysts say, has been brought on 
by a combination of deregula- 
tion and advancements in tech- 
nology. Governments have 
brought down barriers that 
once hindered the development 
of tckcommimications and me- 
dia industries, and new fiber 
optic cables have been devel- 
oped. 

In the world's stock markets, 
the trend Has been accompa- 
nied by large helpings of hype. 
For example, when Bell Atlan- 
tic announced last year that h 

ny Td^^xununicatiom^c!] 
or TO. for $21.4 billion, many 
media stocks took off in the 
speculation that followed. But 


when the partners called the 
deal off a few months later, cit- 
ing regulatory and market un- 
certainties, stocks corrected . 

But analysts say there are still 
a few stocks in the sector worth 
buying. “I think there is still 
value on a selective basis, but 
you have to be selective and 
look at it globally .” said Martial 
Chain et, a Geneva-based senior 
vice president of Capital Re- 
search and Management Co_, a 
U.S. investment concern. 

The big software providers 
are the only group of companies 
that many analysts are pre- 
pared to identify as winners, 
what is dear, say some, is that 
since the number of television 




rhanncU is multiplying, f ilms 
and other programs wifi be in 
greater demand. That should 
result in higher value for film 
and program libraries and for 



I nir-m ationai Haatd Tribune 


'or example, Mr. Ghaillet 
said that in the United King- 
dom, “The value of 60s- type 
movies is increasing because of 

reruns these movies.” 

He said that Britain has be- 
come a kind of guinea pig for 
the multimedia approach be- 
cause it is ahead of much of the 
world in deregulating its TV 
and telecommunications indus- 
tries. 

Huge appetites for Holly- 
wood movies and UJS. televi- 
sion pr o gr a ms should play into 
the hands of many huge U.S. 
media companies, he added. 

“We are focusing our time on 
the suppliers,” said Mr. Chad- 
let. “The Dtszteys of the world, 
the TCIs of the world, and the 
Time-Warners of the world that 
have not only the cable facilities 
but have a tremendous percent- 
age of the facilities to generate 
more pr o gra mm i ng . AB of these 
programs can be sent to digital 
superhighways around the 
world.” 

Mr. ChaiHet thinks compa- 
nies like lime Warner Inc, 
TCI, Walt Disney Co, Viacom 
Inc, and News Corporation 
Ltd. will prosper. “These are 
the companies that can be ex- 
tremely exciting in the long 
term,” he said. 

But at the .same time, add 
other analysts, general broad- 
casting concerns may suffer as 
the growing number of televi- 
sion companies competes for a 
limited audience. 

INTECO, an international 
information technology re- 
search company based in Texas, 
bug examined multimedia de- 
mand from the public in the 
United States and Europe. Its 
research suggests that the num- 
ber Of viewers is not fikety to 
grow as the number of televi- 
sion companies does. So, a lim- 
ited number of viewers and, 
more to the point, advertisers 
wiQ likely have to be shared 
between a larger number of 
companies. 

One analyst who works for a 
large US. investment house in 
London, who insisted on ano- 
nymity, said that cable TV com- 
panies that use their cable net- 
work to provide telephone 
service as well as television have 
tbs right strategy to be winners. 

He said this strategy is being 
’ 3 ted in Britain, where de- 
aden has allowed cable 
companies access to the 
telecommunications business. 





Time Warner 




, 

! "vS V ; ■ , 


, '■ v ■: 's ";*V**} .. $ \ 

Ia, 


British Telecom 


sob..' 

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s* m 

^ ' v ~ > ' - :N - ; ' •'> s : lj • v^^-' 

iiHtu* Di»m»wboin 


-V T 




Source: Bloomberg 

Experts say that alliances aimed at 
building vast telecommunications net- 
works will likely form new deals with 
media companies in order to obtain pro- 
gramming, indeed, a new wave of mergers 
between network operators and media 
companies is expectol say some analysts. 

And while much speculation has re- 
volved around a buyer for Lhe U.S. net- 
work NBC a unit of General Electric Co„ 
a number of American media companies 
are also looking to Europe, where they 
have invested in European cable television 
companies and investigated possible ac- 
quisitions. 

Analysts caution, however, that cultural 
differences can wreak havoc on such 
deals. In 1989, for instance, Sony Corp. 
bought Columbia Pictures and Tristar 
Pictures for S3.4 billion. Last month, how- 
ever. Chairman Peter Guber left Sony 
Pictures Entertainment Inc. amid rumors 


Inlcmaluinal Herald Tribune 


of management problems that were based, 
at least in part, on different cultural ap- 
proaches on how to run the company. 

Turner Broadcasting System Inc^ an- 
other media company with international 
aspirations, has also run into obstacles. 
“Turner has some good networks to sell 
abroad but when they go to China, they 
have problems with authorities wanting to 
control the flow of information," said Mr. 
Stansky of T. Rowe Price. 

In fact, while American media compa- 
nies battle it out for a stake in overseas 
networks and a share in the interactive 
television business, a much younger in- 
dustry is expected to reap faster gains: 
computers. Because owners of personal 
computers may already be familiar with 
on-line services, observers say. they may- 
be faster to accept interactive program- 
ming that is controlled by their keyboard 
and viewed on a computer screen. 


Telecommunications 
and Media Investing 


Page 17 
Telecom Funds 
New U.K. Opportunities 
Looking to Hollywood 




Microsoft Corp.’s SI. 5 billion acquisi- 
tion of the personal- finance software com- 
pany Intuit Inc., for example, will allow 
PC users to do their banking from home. 
Analysts say the move signals Microsoft's 
intention to provide more on-line services. 

And despite the jockeying for partner- 
ships, experts say that the evolution of the 
much-touted information highway may 
lead to a huge number of corporate spin- 
offs that could outpace even the growth of 
mergers and joint ventures. 



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FUND 


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J IIWESCO International Limited. INVESCO House, 
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i Please send me full details of the Global Emerging Markets Fund, 
i inducting a copy of the prospectus. 


1 NAME 

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; ADDRESS 

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2 i 




POSTCODE { 


HTTBIWl 


The hid s pat of INVESCO Prenier Select, a UK Recognised Cofleawe IrtresmEnt Schene based Li«™bourg and qutted cn the Laxsmbourg Stock Exchange. The Fund 6 
denorrrirtatod in US dofera but you c»i invest in any freely convertible currency and we w3l axch^ge it tor you free chsge. HeasenMe.hrwwer.thatnKivenaib 
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Page 16 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, NOVEMBER 5-6, 1994 


ABC INVESTMENT A SERVICES CO (EXJ 
Moramo-BuinALPO W&F*. 533062 Tl 5J2ZJ5 

m ABC Futures Fund LM S 1M32 

mABC l starve Fund IE-C>_S 13.18 
m ABC Global Recovery Fa_* 

m ABC GJaCal Bond Fd J IIRBI 

ABN AMRO BANK, PA Box 282 Amsterdam 

w Columbia Saairtllei FI 136X7 

■> Tran Emm Fund FI. ■ . FI 9MJ 

ir Trora Eiawe FundS— 3 JgW 

lyAJ rente FI zua 

ABN AMRO FWS __ 

4 rue Jean Atormvf, Lux. 353-OWSJ20 


d Lotto Amertra Ea Fd * 5B.I6 

tf North America Eq Fd_ — S 52 

a Germany EwjHy Fd D M 9852 

d Europe Bead Fd S 

d Germany Band Ffl B DM 90X2 

AIO FUND MANAGEMENT Ltd 

dAIGAmer.Eo. Trust. * ,522 

I wAIG Balanced World Fd — S J2J-S5 

tf AlGEmera/VKtsBd Fa — ft 1WXM2 

WAiG Eurecu Fund Pic Ec u 1M.US1 

wAIG Eure Small Co Fd Pic J 1365T45 

wAIG Europe Fd Pic S 1WA7B3 

ivaig Japan Fund — * 

d AIG Jvan Smell Cos Fd — S 5 5-® 

rrAIG Ufln America Fd Pie J 1*55509 

wAIGMIHOurrmcyBdFaPlcS 10M671 

wAIG South East Asia Fd— ft 20.118} 

0 HtaiUk Fund Ea» 9J] 

d UB2 EurfrOetOnlier Fund, Ecu 115* 

d UBZ Liquidity Fund* S US3M7 

a UBZ Ltaufdtfy Fund DM — OM 1272720 
tf UBZ Uauktftv Fund Ecu — Ecu 1280778 

tf UBZ UqukUty Fund SF SF 1214401 

ALFRED HERO 

d Alfred Baa Norton J 21231 

Alfred BcraSkov , 

d For Eo* % 1»Z3 

d Germany. DM 22257 

d Global 5 W*28 

d japan v 1 130? .00 

d Newer kinds FI 23695 

d North Amerien s 118.95 

d Switzerland SF 169.78 

d U.K.— f __ 7328 

ALPHA FUND MANAGEMENT, LTD 
48 Par-La- Vllle Rd. Mammon, HM1I Bermuda 


d FbanecGwia) fma iDiv) FM zii 
d FlMMCCtotal FM B (Cop)FM 212 
d Global Bands FRF A (DIvlJF 104 
d Global Bonds FRF B {Caui.FF 139 
d Far East USD A (DM— 5 JJ 

d Far East U5DB team s 27 

d Japan JPY A (Dfv) Y 1070 

d Japan jPYBICaai__v ICNC 

tf Parsec FRF B (Cap) ff iu 

d Latin America USD A (CHvlS 24 

d Latin America USD BtCupJS 26 
d Nth America USD A (Oiv)ft is 

dNta America USD BfCenlft is 

tf AHaUSDAIDlul S 7 

d Alla USD B ICctI J 1 

d World USD A (DM S 10 

d World USD B (Coni 8 W 

BUCHANAN FUND LIMITED 
c% Bankoi Bermuda Lid: (8071 299-4000 

t StabaJ Hedge USD. i 

t Global Hedea GBP s 

I Global CHF SF 

f European & Aitanttc...,— ... J 
I Pacific 5 


Tbo 1*"' -r~*"n*T *— ff-TftT fri rr m inr nf TimrtHimt imifinl i |it) 


ADVERTISEMENT 

INTERNATIONAL FUNDS 

OaaMfaniMN^dbytoidtBMtod,Mi<ltremAtadbyWeflOPALPAm(TaL3M40Z8a(». 
IWwtirtyaiiiMeMI— ■ « W iB a m ythpFMoBrtddwMmwiPipBnnof J»MW «we* M h— daw h mii ^ aa fc 

(Dane, of qaatatiocts nfflpflete (d) • defy; Jw) - weakly; [b] « btanorthtr, PQ WtniBldty (ev ery two weeta fc M- r i pdffltr. M- 


Nov. 4,1994 


twtoe w ekfa n W- mriUr. 


d Concmrre+ __DM SCJ* 

d Inn R wl e nle ndF ...DM 6451 

DRESDNER 1NTL MOMT SERVICES 
La Taudw Hone- IFSC - Dublin 1 
□SB Thornton Lot Are Set Fd 

tf Canauistadar Fund s 1077 

DUBIN A SWIECA ASSET MANAGEMENT 
Tel : (809) MS 140 Fax : 1897} 945 148 
a Hfebbrtdee capital Care s nmM 

mover leak Performance Fd j 304&47 

m Podflc him Op Fd. mm ■ 7 NS.IS 


iEBC FUND MANAGERS (J«wr) LTD 
rt-3 Seale St. St Heller ; QS34-3AD1 
EBC TRADED CURRENCY FUND LTD 

<f Capital — J 24.2M 

d income s 15388 

INTERNATIONAL INCOME FUND 
d Lons Term S 115344 

a Lena Term -DMK dm 18741$7 

BRMITA8E LUX (3SMM2 21) 

•v Ermltne Inter Rate Steal -DM hub 

iv Ertnrtnoe Seta Fund A «37 

iv ErmHoee Aslan Hedge Fdft 878 

■vErmttage Euro Hedge Fd-OM ?X9 

nr Ermltage Crosby Asia Fdft 1954 

wErmltoge AmerHdgFd S 757 

iv Ermlieoe Enter Mkts Fd J 7737 

EUROPA FUNDS LIMTTED 

d American Eauity Fund 8 27147 

d American Opton Fund — i )7UD 

w Asian Eaultv Fd S 127.11 

w Eurepeon Equity Fd . S I23J8 

EVEREST CAPITAL (187) 272 22N 
m Cue re it CUM Inti LM— t 13451 

FAIRFIELD GREENWICH GROUP 
ro Advanced Stndegies Ltd— 3 I42JJ7B7 

m Chorus Intern al tonal Ud— 3 10&N 

iv FqlrHeld Inti LW 21555 

iv FolrlMd Sentry LM S 34470 

■v FoirfieM Strategies LM s BUS 

m Sen try Select Ltd S 513.7333 

FIDELITY IMTL INV. SERVICES (Lux) 

d Discovery Fund S 2031 

d Far East Find i 8541 

d FkLAmer. Assets l m»* 

d Frontier Fund 3 37JB 

d Gtoballnd Fund 1 17.W 

d Global Sslecttai Fund s ZLO 

d New Euraee Fund S 1437 

d Orient Fund 1 134.74 

d Special Grontti Fund S 4252 

d World Fund $ 11447 

FINMANAGGMCNT SA.L»a«Otf1 JV2373121 

nr Defto Premium Core S 122400 

FOKUS BANKAS. 471 431 SSI 
ivScantonas Inn Growth Fd_S LOO 

FOREIGN A COLONIAL EMERGMKT5 LTD 
Tel : London 071 42B 1234 
d Argentinian Invest Co SIcovS 27-38 

d Brazilian invest Co Stcov_S 4137 

wCctomnlan Inv es t Co Hcnv_S 1530 

d 17W ■■Mbli liiv Hi Hi hi 1 luio 

d Indian Invest Co Sicav S 1244 

d Latin Amer Extra Yield Fd* 9A7H 

d Latin America income Co_s 7J1 

d Latin American invest Co_A 124» 

d Mexican Invest Co Sicav _S 4517 

w Peruvian i nvest Co Starv S K10 

FUND MARKETING GROUP (BID) 

P.O_ Bax 2001, Hamilton. Bermuda 

m FMG Gtobal 130 Sea) S 134V 

m FMG N. Anvr, (X Sea) $ 1050 

mFMG Europe ISO Seal s 1048 

rn FMG EMG MKT (30 Sap) -S 12J0 

m FMG g 130 Sea) s 747 

m FMG Fixed (30 Sea) 5 1014 

FX CONCEPTS (BERMUDA) LTD 

w Concents Forex Fwd s VJ3 

GAIA CURRENCY FUNDS 

w Gala Hedoe II S 13414 

ir Gala Hedge III S 1447 

C GAIA Fx S 12352 

DiGota Gucrmteed CL l__5 8100 

mGaic Guaranteed CL M S 7951 

SARTMOHE IND05UEZ FUNDS 82/n/W 
Tel: (3521 44 5424470 
Fax : (3S) 44S423 
BOND PORTFOLIOS 

d DEM Bond Dis 520 DM 435 

d CHveftxind Dls2J3 SF ID! 

d DoBor Bond Dis 2.13 * 241 

d European Bd_J3>s Lit Ecu 128 

d French Franc Dts?.I? FF 1253 

d Global Band — Dis 2.08 * 24* 

EQUITY PORTFOLIOS 

d ASEAN S 953 

d Asia Pdrifte s 5X6 

d Continental Europe Ecu 1X2 

d Devdaaing Markets S 42S 


I Emetylng Markets S 243S 

CAISSE CENT RALE DE5 BAMGUES POP. 


d Fructllux-Obl. FsesA ff 

d Frudihm - OM. Euro B. Foi 
iv FrvetUux - Action Fses C -FF 
d Fructflux - Actions Euro DJEcu 
d Fructllux - Court Tcrme E-FF 

d FruCtilux - D Mark F DM 

CALLANDER 


nr Alpha Asia Hedge (Oct 28) J 12551 

m AJptio Europe Fd (5es 3 W_Ecd 24744 

in AtaW Futures Fd<MP30)-S 21554 

mAMbaGM Pro Trad Sen X5 0487 

m Aloha Global Fd (Sep 301 _3 77430 

mAlphaHdg FdO A/Seo38_S 01.13 

mAlota Hdg Fd Cl B/5ep XJ 10147 

mAWwHdgFUCl C/5® 38-S HUTS 

m Alpha Latin Amer (sen MU 377X7 

m Alpho PodAc Fd (Sea 301 _S 37147 

/n Alpha SAM S 12485 

m Alpha Short Fd (Seg 301 — S 4540 

mAWnaSW-TFU lnc7Sep30J 11230 

mAkpho Tllldate Fd [5ep301_s 17L2S 

mAMia Worthington (Sea 301 S 11120 

IV BCO/AtohaGI Hedge Sea 30s 7073 

w B CO/ Alpho Mkt Ntri Sen 305 *0.1* 

mBudvAlaha EurHds Sea 33^cu 15400 

mCrescat Aslan Hedge Sea SOS 1T474 

mGlaboivesi Value (Seo 301-S 14154 

w Helsel Japan Fund - ■ ■ - .Y 7408 

m Hemisphere Neutral 5cu 305 Kxm 

fll Lallnvest Vatu* (Sep J0)_5 13356 

mNktiAppi Aurelia (Son 301 _s 17153 

mPocH RIMOPOBVI Oct 31 -S 105.15 

mRIngoen Inti Fund /Sea 34-S *1.08 

mSaoe Inti Fd (Sep 30) S 11477 

at Sal us mrt Fd (Sea 30) * 10*57 

AM5TEL (ASIA] LTD Tel: B5243S 87 S3 
w Sprinter Japan StnaU Co l_5 730 

m Theta Company Fd 1 v 1023250 
ARISTA CAPITAL GROWTH FUND LTD 
Zurich 4W -37! 8430 

w R e putation 5 A 578 

ARRAL ASSOCIATES LTD 

iv Arnrf American Quanl Fd— 5 1414 

wArral Aslan Fund % 39172 

w Arrof Inti Hedge Fund s 21274 

ATLAS CAPITAL MANAGEMENT LTD 

IV Atlas Global Fd 1 77X5 

BAIL 12 Place Vendome, 7M71 Parts 

m intermarket Fun) S 54421 

I interem convert Bds FF 257280 

l iMerotfl Inti Bch % sasi 

r Interem ObJf ConvertUXes-S 574S7 

Intermar k ei Muillcurrcnev Fund 

mCtoA FF 227354 

m Class B i 21758 

BANK BRUSSELS LAMBERT (3F2) 5472X17 



177217.73 

151728840 

.TO 


d BBL invest America S 423.K 

d BBL Invest Belgium BF 12W55C 

d BBL Invest Far East Y 3527550 

d BBL Invest Avk> S 47551 

d BBL Invest Lattn Amer _S 62159 

d BBL Invest UK ( 241.11 

d BBL (L) inv Goldmines S 13*58 

d BBL (U Invest Europe LF 1345050 

d BBL (L) Invest World LF 343450 

d BBL IL) Invest Base MetolsS SS4S7 

d BBL (FI Invest France FF 417.71 

d BBL ( F) Rentafund FRF FF 1441182 

d BBL Renta Fd mtl LF 3567 JW 

a BBL Pafrtmonial Bal LF 1748150 

d Renta Cash SMedlun bef BF 12147750 
d Renta Cash S-Medhim DEMDM 5224.19 

a Renta Cash S-Medhim USD 1 304458 

BANQUE 8ELSE ASSET MGMT FUND 
Share Distributor Guernsey (MB1 724414 

w inn Eaultv Find - J 1113 

w mtl Bond Fund s 1547 

iv Dollar Zone BdFd S 1144 

nr Ask) Pacific Region Fd—S 11X4 

w India Fund S «4B 

w Sterling Equity Fd c 1.189 

tv Sterling Bd Fd c 1X3 

BANQUE INDOSUCZ 

w The Dragon Fund Sicav S 9753 

m Japan Gtd Fd A (Ji/l(VMu 7754 

m Japan Gld Fd B 131/10/74)-* 1D7JI 

mDual Futures Fd a A Units S 12741 

mDuol Futures Fd O C Unite! 11 54 1 

m Maxima FuL Fd Ser. I CL AS 12574) 

m Maxima Fut FdSer. I CLBS 11831* 

m Maxima Fut. Fd Ser. 2 CL CS 105X81 

m Maxima FuLFd Ser. 2 CL DS 104527 

mlndasuez Curr. Cl A UnHs-J 102411 

mindosuez Curr.O B Unite S 112539 

wlPNA-1 S *3? M 

d ISA Asian Growth F-jnd S 84X7 

d ISA Japan Reg. Growth Fd-Y 90450 

d ISA PfldFIC GaM Fund J* 1946 

d ISA Altai Income Fund S 11.16 

d Indosuez Korea Fund s 1177 

* Shanghai Fwxt 1 1U3 

iv Himalayan Fund—— _S 2054 

iv Manila Fund S 3342 

iv (Malacca Fund S 1577 

w Slam Fund S 6144 

d Indosuez Hong Kong FundJ 58410 

d Slogan 5 Malay Trust S 42545 

d Pacific Trust __HKS 38400 

d Tasman Fund S 4520 

a Japan Fund * 14305 

iv Managed Trust « 37.180 

d Gartmore Japan Warrant _S 040 

*v Indawes High Yk) Bd Fd A5 9054 

w Indosuez HWi YU BdFdB 5 7457 

b MaxlEsaana Ptas 9054450 

A Maxi France _FF 4880.7B 

»* Maxi France 93 FF 467054 

d Indosuez Latin America — S 1077 

d Indosuez Muftlmedla Fd S 1150 

BANQUE SC5 ALLIANCE-CREDIT BANK- 
(41221 344-1281, Geneva 
w Plekzde North Am Equities 3 10116 

iv Ptelade Europe EaiHtlrs — Ecu 128.15 

iv Ptetade Asto Podfle Ea S 7*55 

w Ptetade Environment Efl — s 8831 

i* Ptetade Dollar Bands S 9421 

■vPletade ECU Bonds Ecu 10530 

w Pletade FF Bands FF 104X3 

iv Pleiade Eure Conv Bands -SF 89.16 

w Ptetade Dollar Reserve % 10235 

w Ptetade ECU Reserve Ecu 10541 

nr Ptetade SF Reserve SF 103X7 

iv Pleiade FF Reserve FF 10550 

BARCLAYS INTL FUND MANAGERS 

Hang Kang, Tel: (852) 8261700 

dChim (PRC) _5 8581 

d Hnwp Xrwi « HJM4 

d Indonesia i ils&a 

dJancei S 103U 

d Korea _l 1L092 

a Malaysia S 26538 

d Philippines— « jijsjj 

d Slnganore S 21327 

d Thnllmvl « 41. <57 

d South Easl Asia— __ j 3SJ43 


d Ondam Eaultv Fund S 

d Clndam Batancea Fund S 

CITIBANK (LUXEMBOURG) SA. 
POfl ISO UuembaureTeL4779S71 

d Otinvest Global Bond S 

d CiMnvest FGP USD S 

d ai Invest FGP ECU Ecu 

d Cllinvesl Setectar 5 

d ancurrendes uso — J 

d attairrendes DEM DM 

d CHIeurrencte s GBP £ 

d Cltleur r enc te s Yen ■ — — V 

d CINport HA Eauity 3 

d CIHoort Cant. Euro Eaultv -Ecu 

d attaort UK Eaultv ( 

d Clllpori French Eaultv FF 

d attaort Genraxi Equtty— DM 
d atlpori Janan Equity Y 

d attaort ■ apec s 

d aitaart Eamec s 

d CHtaorl NJLS Bond — s 

d attaort Euro Bond Ecu 

d Manooed Currency Fund_S 

d India Focus Fund * 

CITIBANK (PARJ5J SJL 82(11/74 

d at! 96 Can GM s 

d CHI Gtd Aston Mkts Fd S 

CITITRUST 

tvUSS Equities 3 

iv US SManev Market S 

wltSS Bonds — S 

mCtttaertOrmonce Ptfl SA—S 

t* The Good Earth Fund S 

CO MCE ST [37-1)44 7S 73 » 

1 C-F.E. Lotus Fund S 

■vr’immvvtavlM - X 

ivComaesl Europe— —SF 
CONCEPT FUND 

6 WAMGtobo! Hedge Fd S 

b WAM inti Bd Hedge Fd S 

CONCERTO LIMITED 
■v NAV 28 Oct 1994— —S 
COWEN ASSET MANAGEMENT 
Cmcn Enterprise Fund N.V. 

wrCtassAShs S 

w Class B Shs S 

CRED1S INVESTMENT FUNDS 

d CS Port I Inc DM A DM 

d CS Port I Inc DM B OM 

d CS Portl me (Ure) A/B Lit 

d C5 Pom Inc SFR A SF 

d CS Pont Inc SFR B SF 

d CS Parti Inc USSA S 

d CSPortf Inc USJB S 

dCS Port! Bal DM DM 

d CS Portf Bat I Ure) A/B Lit 

d CS Pont Bal SFR SF 

d cs Pont Bal uss— —5 

d cs Pant Granin dm dm 

d CS Portf Gro (Lire) A/B ut 

d CS Partf Growth SFR— SF 

d CS Parti Growth USS S 

d CS Money Market Fd BEF.BF 

d CS Money Market Fd CS CS 

d C5 Money Mortal Fd DM OM 

d CS Money Market Fd FF FF 

dC5 Money .Market Fd Ecu —Ecu 
d CS Money Market Fd HFI-FI 

d CS Money Market Fd Ut Lit 

d CS Money Market Fd Pto PI os 

dCS Money Market FdSF SF 

d CS Money Market Fd * - * 
d C5 Money Market Fd Yen-Y 

dC5 Money Market Fdc I 

d Credo Ea Fd Emerg Mkis_s 

d Credit Ea Fd Lot Amor s 

d CredlsEqFd Small Coo EurDM 
d Credls Ea Fd Small Cap GerDM 
d Credit Eq Fd Small Cap JapY 
d Credls Ea Fd Sm Cap USA.S 

d Credls Korea Fund S 

d Credls Srnll+MId Cap SwitzISF 

d Credit Suisse Fds loll SF 

d CS Euro Bbe Chips A DM 

d C5 Euro Blue Chios B DM 


d CS France Fund A FF 

! d CS France Fund B FF 

d CS Germany Fund A — DM 

d CS Germany Fund B DM 

a C5 Gold Mines A S 

d CS Gold Mines B S 

dCS Gold Voter S 

d CS Hiseano Iberia Fd A Pta 

dCSHtePono Iberia Fd 8 — Pta 

d C5 Italy Fund a LH 

d CS Italy FundB Lit 

d CS Jaacn Megatrend SFR SF 

d CS Japtei Megatrend Yen _Y 

d CS Netherlands Fd A FL 

d CS Nethertanas Fd B FL 

d CS NortthAmeriam A * 

d CS North- American B S 

d CS Oeho-Protec A DM 

d CS Oefco-Protec B DM 

d CS Ttoer Fund S 

d CS UK Fund A r 

d CS UK Fund B t 

d Energie- Voter __SF 

d Europe Voter — SF 

a Podfle- Voter SF 

d Schweizeraktlen SF 

d Bond Valor D-Mark DM 

d Bond Valor Swf 5F 

d Bond Valor US - Dollar S 

d Bond voter Yon Y 

d Band volor LSIerihig t 

d Convert Voter Swf SF 

d Convert Valor US - Dollar -5 

d Convert VOtar [Sterling ( 

d Credit Swiss Fds Bite -SF 

d Credls Bond Fd AusJ A AS 

d Credls Band FdAusSB AS 

d Credls Bond Fd Cans A CS 

d Credls Bond Fd CanSB — cs 
d Cretfs Band Fd DM A— DM 

d Credls Bond Fd OM B DM 

d Create Bond Fd FF A FF 


d France FF 10.19 

d Germany DM 552 

d International * 259 

d JCPCn Y 26958 

d North America— — S 162 

d Switzerio n d- SF 3X0 

d Untied Kingdom . r 154 

RESERVE FUNDS 

d DEM- Pi* 3581— DM 4X29 

d Dollar Dis 2 122 % 2.796 

d French Franc— FF U09 

d Yen Reserve Y 2892 

GEFINOR FUNDS 

London: 71 -499 41 71 .Geneva: <1-22735 55 30 

iv Scottish World Fund S 4795443 

w Stale SI. American S 348.97 

GENESEE FUND LM 

w (A) Genesee Eogte S 154X6 

GLOBAL ASSET MANAGEMENT 
OFFSHORE FUNDS 
1 1 Athol StDougtasJ of Man 4642462U37 

ivGAMerlco 5 47155 

■v GAM Arbttrage S 41058 

w GAM ASEAN S 45257 

trGAM Aastroin S 22356 

w GAM Boston S 31258 

ir GAM Combined DM 12156 

w GAM Cross-Market— S 11181 

w GAM European S 9358 

■vGAM France FF 166450 

wGAMrronc-vol SF 244X8 

■vGAMGAMCO 3 714X17 

iv GAM High Yield S 15859 

N GAM East Asia S 74003 

w Gam Jaoan s 86954 

■v GAM Money MkteUSt S TO 155 

d Do Sterling c 10159 

d Do Swiss Franc SF Ml 22 

dDoOcuteebemark DM 10157 

d Do Yen v ioosaos 


r GT Technalagy Fund A Sbj 6122 

r GT Terimotegy Fund B 5h-S 6*71 

GT MANAGEMENT P LC {*4 71 711 « S7) 
d G.T. BtattdVHealtn Fund-S 2055 

d G.T. Deutschland Fund S 1258 

a G.T. Europe Fund . . s 4958 

wG.T.GIoboi Small Co Fd 3 3053 

d GiT. Inveihncnl Fund— — J Z757 

iv G.T. Korea Fund Jt US 

wG.T. Newly indCountr Fd— 5 6457 

wC.T. US SmaW Comoontes— * 2L56 

GUERNSEY CAPITAL MANAGEMENT LTD 

/ GCMJnt.Ea.Fd S 108X1 

t GCMUSSSsedal— — S 108557 

6UINNESS FLIGHT FD MNCRS (Greev) Ud 
GUINNESS FLIGHT GLBL STRATEGY FD 

d Mtmaoed Cirrency s 3953 

d CtabulBonri ... .8 3357 

dGtabal High Income Bond -5 2LT7 

d GUI 4 (Bond C Ills 

d Euro High me Bona i 1959 

d Global Equity S 9*26 

d American Blue Chip 5 28X0 

d Jason and PodBc ■-» 134.0 

d UK— l 26.19 

d European-— — — S 12195 

GUINNESS FLIGHT INTL ACCUM FD 
d Devtsdiwticnh Money— DM 90862 

d US Doikr Money S 37.107 

d US Dollar HWI YtfBcftd 5 24X4 

d Inti Batanctd Grth I . 36.*7 

HAS EN 8 ICH LEX ASSET MANGT GetJiWL 

wHaaenblcWerCom AG S 6625 OB 

ivHosenbicMer Com Inc S 12114 

w HoserbWiter Dfv S 134.94 

WAFFT s 117750 

HOP F I NAKC CjTtKU-l >4S7t*45LFax 4976*453 

IV Mpndtavest Europe FF 124J53 

tvMondkivesi Crobsonce FF U34X7 

wMondtaveUOBP tntlev FF 117452 

w Mondnvest Emerg Growth J=F 01072 

w Mondlnvcsi Futures— -—FF 1X178 

HEPTAGON FUND NV (STTTXISB) 

t I WHO— QUO Fond S 8478 

C Heptagon CMO Fond S 5756 

HERMES ASSET MANAGEMENT LTD 
Bermwta ; !BW)2»5 490* Lux; (35MM4 64 41 
Final Prices 

m Henna Eurepeon Fund —Ecu 33351 

01 Hermes North American FdS 30250 

m Hermes Aston Fund 3 38651 

m Hermes Emerg Mkts FuttLS 138JS 

DiHermesSlrotegiesFiirel i 688.95 

m Hermes Neutral Fund s Mill 

m Hermes Global Fund S 66751 

m Hermes Bond Func Ecu 123190 

m Hermes sterilngFd c M9X3 

m Hermes Gold Fund— — S 47107 

hutzler brokerage 

m Pegasus PJ». PorttoHo s 1256 

IFDC SA. GROUP, Lead0aJtax(44^U4H 9172 

w IFDC Japan Fund Y 2397358 

w loterbond Fund Ecu 1W1758 

w Korea Dynamic Fund S Z3i?x7 

w Malacca Dynamic Fund S 194052 

wMaroc investment Fund — ff 9588X7 

INCOME PARTNERS (ASIA) LIMITED 
w Asian Fixed Income FSL-^S 11712 

INTERINVEST (BERMUDA) LTD 
C/o Bar* ol Bermuda, Tel : S0929S4800 
m Hedge Hog 4 Conserve Fd_s 951 

INTERNATIONAL ASSETS FUND 
2. Bd RayaL L-2449 Luxembourg 

w Europe Sud E Ecu 89.17 

INVESCO INTL LTD, POfl 271, Jersey 
Tri: 44 534 73114 

d Maximum income Fund— s 09408 * 

d Sterling Mngd Ptfl i 25838 

d Pioneer Markets c 65 IX 

d Okcrxn Gtobol Strategy S 17X400 

d Asia Super Growth— 5 *>xxuvi 

d Nteoan warrant Fund s LMO 

d Asia Tiger Warrant S S.160B 

d European Warrant Fund S 25908 

d GW N.W. 1994 % 95900 

d Global Leisure S *1200 

PREMIER SELECT FUNDS 

d American Growth S 65600 

d American Enterprise S ESSX 

d Asia Tiger Growth $ 125600 

d Dollar Reserve S 55400 

d European Growth — —A 5X300 

« European Enterprise S 6X000 

d Global Emerging IWzrketS-S 9X100 

d Global Growth 1 S.9TB0 

d Nippon E n terpri se S 7.9000 

d Nippon Growth. S 55500 

d UK Growth 1 55 MO 

d Sterling Reserve— I 

d Greater CWno Opas S 75400 

IRISH LIFE INTL Ltd. (tax) 2S3-F704 1921 


MAVERICK (CorntaPMUT) 70HW 

m Maverick Fund 5 1515982 

MCKINLEY CAPITAL PARTNERS, LTD 
m The Corsair Fond L)d S 77J0 

mThe Dauntless FdLtd 5 nun 

MBESPIERSON 

Statin HL T012kk. Amsterdam BM2H18S) 


•v Quantum Realty Trust S 13446 

wOaanhfm UK Reaftv Fuad_s 10651 

w Quasar un Fund N.v S 15077 

nr Quota Fund N.V. A 13122 

REGENT FUND MANAGEMENT LTD 


d international Cautious S 1521 

d Internation al Balanced— S 1516 

d International Growth __S 1544 

TTALFORTUNE INTL. FUNDS 
wOassA (Aggr. Growth itaUS 7846450 

wCteiB (Gtabal Eqully) S 12.15 

vCIm C (Global Band) S 1153 

wOosa D 1 Ecu Bondi Ecu IQxS 

JARDINE FLEMING, GPO Box 114M Ho Kg 

d JF ASEAN Trust S 60.97 

d JF For Eml Wrrd Tr 5 2056 

d JF GloboJ Conv. Tr S 1358 

d JF Hong Kong Trust S 1754 

d JF Japan Srn. Co Tr Y 47 591 HQ 

d JF Japan Trust Y 1141100 

d JF Malaysia Trust, S 27X6 

d JF Podfle Inc Tr. S 12X7 

d JF ThoJfOTd Trust S 46JN 

JOHN GOVETT MANT (LOAD LTD 
Tel: 44X24 -62 96 20 

tvGovetl Way Futures L 11X3 

wGavetlMon.Ful.USS S 758 

■vGovetlS Gear. Curr S 11X9 

rr Govett J Glbi BcL Hdge S 105314 

JULIUS BAER 6R0UP 
a Baerbond SF 83758 


* GAM Allocated MID- Fd s 

■r GAM Emerg MMs Mitt -Fd _s 

w GAM MIU-Eurape USS S 

tv GAM Mlfl- Europe DM _DM 

ir GAM Mttl-Global USS I 

wGAMMJtHJS 1 


w GAM Trading DM DM 

I w GAM Trading USS— S 

' w GAM Overseas S 

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w gam Retattve value S 

w GAM Selection s 

0 GAM Stngupore/Motaysta _S 

■r GAM SF Special Bond SF 

■vGAMTvdw S 

WGAMU5. S 

0 GAMul iinwiinwii-. s 

0 GAM value S 

0 GAM Whitethorn S 

w GAM Worldwide S 

tv Gam Band USSOrd s 

tv GAM Band USS Special S 

iv GAM Bond SF SF 

tr GAM Bend Yen — Y 

0 GAM Band DM —DM 

vGAMBmdC— — i 

IV GAM (Special Band c 

w GAM Universal USS. . S 

ir GSAM Composite S 

w Gtatxd Strategic A S 

0 Global Strategic B S 

w European Strategic A — — S 
ir European Strategic B . .. A 

0 T raqUns strategic A s 

0 Trotfl ng Strategic B 9 

0 Emerg MMs Strategic A i 

w Emerg Mfcft Strategic B S 

w Allocated Strategic Fd A — S 
w Allocated Strategic Fd B S 


d South East Aslo s 3SJ42 d greois Bond Fd FF A FF 

BARING INTL FD MANORS (IRELAND) LTD d Credh Bond Fd FF B FF 

(SIB RECOGNIZED) d Credls Bond Fd Ure A/B — Lit 

IF5G HSErCudom Hse DodaJTub. 4471A286000 d Cratt Bond Fd Pesetas A/BPftn 

wHWl Yield Bond s 953 d Cretfls Bend Fd USS A S 

w World Bond FFR _FF 54,13 d Crecfl* Bond Fd USS B i 

BARING INTL FD MNGR5 (IRELAND) LTD d Credls Bond Fd Yen A Y 

(NON SIB RECOGNIZED) d Credls Band Fd Yen B Y 

w Aurtmiui * -iKirt d Credh Bond Fd tA— — ...t 

w Japcei Technology 5 66X6 d Credls Bond Fd IB _X 

w Japan Fund v 2S54 d CS Caoilal DM 1997— —DM 

iv Japan New Generation i 2154 d CS Capital DM 2800 DM 

0 Motaysta & Singapore s 13360 d CS CapMal Ecu 2000 Ecu 

w North America % 27X0 d C5 Capitol FF 2008 FF 

■vOdapuaPmd S 43J4 d cs Capital SFR 2o« sf 

w Podfle Fund— _—S 11354 d CS Ecu Bond A Ecu 

w international Bond S 1854 d C5 Ecu Bond B —Ecu 

w Euroca Fund S 1750 d C5 Euraea Bond A DM 

w Hong Kong % joajs d CS Eurooa Band B dm 

■v Trlster Warrom s 33X9 d CS Fixed I DM B% 1/96 DM 

■v Global Emerging MMs— 5 1575 d CS Fixed I Edit 3/4% 1/96. Ecu 

w UD in America S 14.77 d CS Fixed I SF 7% 1/96 SF 

0 Currency Fu nd 4 16X2 d CS FF Band A FF 

w Currency Fund Managed __s 52X5 d C5 FF Band B FF 

0 Karen Fund « 1077 d CS Gulden Bond A FI 

iv Baring Emetg Worid Fd_s 1523 d CS Gulden Bond B - FI 

BCL CURRENCY FUND d CS Prime Band A SF 

m BCL U5D. — « 796.12 d CS Prime Bond B SF 

reBCL DEM OM 835X7 d CS Shart-T. Band DM A DM 

m BCL CHF SF 92479 d CS Shorf-T. Bond DM B DM 

mBCl FBF « 4218X6 d CS Short -T. Bondi A S 

mBCLJPY- y 826*550 d CS Sharl-T. Bond J B S 

JBCLBEF. — BF 2592400 d CS Swha Franc Band A SF 

BDD GROUP OF FUNDS d CS Swiss Franc Bond B SF 

w BOD USS Cash Fund S 542955 dCSEurareal DM 

“525 EcuLWh Fund Ecu 62K.13 CREDIT AGRICOLE 

iv BDD Swiss Franc Cash SF 5128.15 INDEXIS 

“ !"?• I” - FurkFUSS S 512850 d IndexlS USA/SBP 500 5 

" L 11 !- Bl *! d Pund-Ea 1 — Ecu 6629X8 d Intfexls Japon/Nikkei y 

w BOON American Eataty FdS 509650 d IndextsG Brett FT5E 1 

w BDD European EoiHiy FundEcu 5*1452 d frafcxls Fronce/CAC 40 FF 

— I2S F . w * 1 * 1491.94 d IndextaCT FF 

m BDD US Small Cop Fund —5 1061*7 MONAXiS 

mBDO JfXMjn Fd. — s 94733 d Court Terme USD S 

mBDO Emerging MMs Fd — S 99414 d Court Terme DEM DM 

wEuroflnaaciere Fixed lnc—FF 1040452 d Court Terme JPY- Y 


d r-«|f V»w mm 

| d Equbxier America 5 

d Equteaer Europe 5F 

d SFR- BAER SF 

d Steckbar SF 

d Swlnbor SF 

d I tanHinw C 

d Europe Band Fund Eat 

d Dollar Bond Fund 5 

d Austro Bond Fund AS 

d Swiss Band Fund SF 

d DM Bond Fund DM 

d Convert Band Fund— SF 

d Global Bard Fund DM 

d Euro Slock Fund Ecu 

d US Slock Fund i 

d Podfle Stock Fund 5 

d Swiss Stack f-m sf 

d SnedaJ Swiss Stock sf 

d Japan Stock Fund Y 

d Germm Stock Fund DM 

d Korean Stock Fund S 

d Swiss Franc Cash SF 

d DM Cash Fund DM 

d ECU Cosh Fund Ecu 

d Sterling cash Fund 1 

d Dollar Cosh Fund 5 

d French Franc Cadi— — FF 
KEY ASSET MANAGEMENT INC 
771 Key Asia Holdings S 

m Key Global Hecoe 5 

mKey H edge Fund Inc 5 


w Asta Put Growth FdNV. _l 40X6 

w AJlan CBBHal Holdings 1 6L92 

w Aslmi Sefedlen Fd N.V FI 99,4 

•vDP Amer. Growth FdH.V.-8 3629 

w EM5 Offshore Fa N.V. H 161JS 

iv Europe Growth Fund ltv._n 6056 

0 Japan Divorsifitd Fund —5 SU3 

iv Leveraged Cap Hatd 5 6157 

MERRILL LYNCH 

d Dolkr Assets Portfolio 3 150 

d Prime Rote Portfeiio 5 TOOG 

MERRILL LYNCH SHORT-TERM 
WORLD INCOME PORTFOLIO 
d Class A. 5 877 

d Class B. — — i 127 

MERRILL LYNCH 

GLOBAL CURRENCY BOND SERIES 
AUSTRALIAN 00LLAR PORTFOLIO 
d Coteggry A ,m itxo 

d Category B ■ ai 1771 

CANADIAN DOLLAR PORTFOLIO 

d Cstrrcry A CS U.W 

d Category B CS 1350 

CORPORATE HIGH INCOME PTFL 

d Class A-1 _5 197 

d OassA-T S 954 

d Class B-l 5 857 

d Clan B-2 S * jo 

DEUTSCHE MARK PORTFOLIO 

d Category A—— DM 1354 

d Cgtegary B-. DM 12X7 

EUROPEAN BONO PORTFOLIO (0MI 
d « 1261 

d Ocss A-* « 1336 

rffTn^LB.1 2 1361 

d Goa B-2 s KU 

EUROPEAN BONO PORTFOLIO (USD 

d pan A-1 DM 9.14 

dCtassA-2 DM 1070 

d Ctaj B-l 5 9.14 

d Ckss K-7 A IQJ0 

POUND STERLING PORTFOLIO 
d rnU-ora-vA_ r 1S91 

tf Cctegary B. t 155* 

US DOLLAR PORTFOLIO 

d CateearvA 8 1143 

d Category b_ 5 1102 

YEN PORTFOLIO 

d Category A 1245 

d Category 8 Y 12» 

MULTI CURRENCY BOND PTFL 
d Cass A S 22.19 

rl rv— a « TL59 

US FEDERAL SECURITIES PTFL 

d n™ * % jjg 

a Ora B S 9X8 

MERRILL LYNCH 

EQUITY l CONVERTIBLE SERIES 

BASIC VALUE PORTFOLIO 

d ft^A S 15.10 

d CtassB s 1479 

CONVERTIBLE SECURITIES PTFL 
d Class A -X 1454 

Vnnqg_. 5 1369 

GLOBAL ALLOCATION PTFL IUS) 

d QassA * 1028 

d OcssB S 1818 

GLOBAL EQUITY PORTFOLIO 

rfOnssA S 1052 

d Class B S 96Q 

EURO EQUITY PORTFOLIO 

d Class A 5 14X8 

d CtassB S 1192 

LATIN AMERICA PORTFOLIO 

d Clara A S 1776 

dCJassB S T754 

PACIFIC EQUITY PORTFOLIO 

0 rirr^x % 975 

d CtassB < *74 

WORLD NATURAL RESOURCES PTFL 

d CTOS* A 5 1255 

d CtassB .1 1152 

DRAGON PORTFOLIO 

d CtassA 5 M57 

d CtassB 5 1457 

MERRILL LYNCH EMERGING MARKETS 

d Class A 5 11X2 

d CtassB S 11X1 

MERRILL LYNCH INC 5 PORTFOLIO 

d Class A 1 177 

d CtassB S 126 

d Class C 5 827 

1 MERRILL LYNCH MEXICAN INC PORT 

d Mexican Inc 5 PHI a A 5 9X5 

I d Mexican Inc 5 Ptfl OB— X 9X5 

d Modem tor Peso PHI a A 5 837 

d Mexican Inc Peso Ptfl Cl BA 857 

MOMENTUM ASSET MANAGEMENT 
iv Momentum NovslHer PertjS 9859 

m Momentum RatabewFd % n<52 

mMamenturn RxR R.U S 76X8 

m Moment u m Stackmcster S 15992 

MORVAL VONWILLER ASSET MGT Co 

w Wilier Japan Y TCJJQ 

w ■Miter South East Asia S 17X7 

w Wller Tekram S 1031 

0 WUterfuidt-Wllleroond Cons 15X7 

0 WiHerhmds-WlUerbood Eur Ecu 1233 

wWBterfunds-waiereq Esr_Ecu 1375 

nrWHEei-fiMfa-wniereq Italy -LU 1158280 

nr WlHerfunds-WIItereq NA — S 1U5 

MULTI MANAGER N.V. 

m Wor ld Bond Fttad— Ecu 1252 

m European E Whites Ecu 14X9 

rn Japanese E outlies Y 856 

m Emerging Markets S 2356 

mCath Enhancement S 950 

mArtJttrooe S 991 

m Hedge, s 1259 

NIOtOLAS-APPLEGATE CAPITAL MGT 
d NAStraJeglcOsoartonjttesX 1M.I5 

wNAFlextote Growth Fd S 1034 

0 NA Hedge Fund % UB75 

NOMURA INTL (HONG KONG) LTD 
d Nomuro Jakarta Fund__s 1 122 

ODET ASSET MANAGEMENT LTD 
21 Grosvenar SlJ.rtn WIX 9FEX4-7M992998 


ta PACIFIC ASSET MANAGEMENT INC 


SWISS REGISTERED FUNDS 41-1-422 2626 
MuWebartatraree 171CH 8034Jurirti 

d GAM ICHJ Europe SF 9153 

d GAM (CHI Mondial — ,5F 16078 

d GAM (CH) Podfle SF 284J1 

SeC REGISTERED FUNDS 

IS East 57th Street MY 100227124884200 

w GAM Europe S *059 

•r GAM Global % 137X6 

nr GAM International s 1*726 

w GAM Japan Caultal — S 9677 

wGAM North America S 93X0 

w GAM Pacific Bostn S 19405 

IRISH REGISTERED UCiTS 

65-66 Lower Mount SI-DubRn 27S3-M7606S 

w GAM Asia Inc Y 100.10 

0 GAM Europe Act DM 12776 

w GAM Orient ACC DM 15577 

m GAM Tokyo Acc DM 17LI8 

nr GAM Total Bond OMACC— DM 104X7 

wGAM Universal DM Acc DM 17490 

GLOBAL CAPITAL MANAGEMENT LTD 
Bermuda: (889)295-4800 Fax: (809) 295-6180 
JWH GLOBAL STRATEGIES LTD 
0 (A) Original Investment — S 82X4 

nr (C) Financial & Metas S 14653 

» (DJ Global Diversified S 11026 

w (F) G7 Currency S *1X6 

nr (H) Yen Financial 8 15774 

nr ( J) Dhrersifled Risk Adi A 118J8 

iv (K) IMi Currency & Bond-S 11656 

w(U Global Flnanctai. S 7358 

nr JWH WORLDWIDE FUND2 17X8 


GLOBAL FUTURES & OPTIONS SICAV 


w Eurofln MulH-Cy Bd Fd FF 

BE LIN VEST MGMT (GSY) LTD 

w Beilnvest-Brmii s 

iv BeUrrva! -Global r 

m Bfilnvesmnwl « 

ivBeitavest-MuttRxxxI S 

iv Beilm«t-Sup<?rtor 3 

BNP LUXEMBOURG 
INTER CASH 

/ Franc FRF FF 

t France Senvlte cr 

f InlerCashDM _D« 

1 Inter Cash Ecu— E01 

t Inter Cash GBP t 

I Inter Cash USD— s 

I Inter Cosh Yen „__Y 

INTER MULTI INVESTMENT 
nr Prlvati sal kins lull invest — S 

iv Telecom invest s 

INTER OPTIMUM 

w imerband USD s 

wBEF/LUF BF 

wMuJIMevIicsDM- DM 

0 USD S 

iv FPF FF 

" ECU — Ecu 

INTER STRATEGIE 
w Austral)* - « 

nr Franre cc 

w Eurooe du Nord. - .. t 

0 Europe du Centra- DM 

w Europe du Sud— Ecu 

0 tenon v 

0 Amerhste du Nord J 

nrSud-ES Asioilque 5 

w Global 5 

nr Small Cap S 

BSS UNIVERSAL FUND SICAV 

0 Intetoond CW 5P 

0 Intelsec CM SF 

n Swlutund Olf SF 

d Europe ECU A I Ply) Ecu 

d Europe ECU B (Cap) Ecu 

0 Global Ea USD A (DM S 

d Global Ea USD 8 (Cap) S 

d Global Sands USD A (Dtvl 
d Gtebal Bondi USD B I Cool S 


d Index Is CT — FF 

MONAXIS 

d Court Terme USD * 

d Court Terme DEM DM 

d Court Terme JPY y 

d Court TermeGBP .. _.s 
rf Court Terme FRF cc 

d Court Terme ESP Pta 

d Court Terme ECU Ecu 

MOSAIS 

d Adlans mrt Dlversffleos— FF 
d Actions Ngrd-Amertcnlne 3 .S 

d Actions Japanobn Y 

d Actions Ana tataes l 

d . fritansAltemondes DM 

dAcHamFrancalseo FF 

d Adlans Ess. A Pori Pta 

d Actions 1 to! femes. Lll 

d Actions Bassln Pocillque_* 

d ttllg Irm DiverslHees FF 

i 2“2 ItardAmericnlnes S 

d owig JawjfBlses. Y 

d Obllg Anolobes 1 

t SSSS"*'" 0 ?* 9 DM 

d OWlg Francoises- cp 

d Obila Ea». A Port. 
d Obfia Convert. Intern. c c 

d Carr! Terme Ecu cm. 

d Court Terme USD S 

d Court Terme FRF cc 


mFFM lot Bd Progr-CHF CI-SF *S34 

GOLDMAN SACHS 

nr G5 Ad| Role Mori. Fd II S 9.70 

m GS Global Currency J 126178 

wGS World Band Fund _s 10.13 

» GS Wbrkl Income Fund s 925 

GS EQUITY FUNDS SICAV 

iv GS Euro Smafl Cap Port— DM 9571 

wGS Global Equtty S 1191 

nr GS US Cop Growth Port s (820 

nr GS US Small Cap Pari —S 993 

wGS Asia Portfolio S 1129 

GOTTEX FUND MANAGEMENT 

tv G. Swan Fund Ecu .115156* 

GRANITE CAPITAL INTL GROUP 

w Granite Capital Eaultv s 09234 

w Granite cacti al Mortgage-5 07925 

■v Granite Global Debt. LH_S 09426 

GT ASSET MANAGEMENT (IRELAND) LTD 
Tel: (44)71 -710 45 67 

d GT Aston Fd A Shares S 

d GT Asean Fd B Shares 5 

d GT 


mKlAjkJPacfflcFdUd S 1253 

KIDDER. PEABODY 

b Chesapeake Fund Ud S 290543 

bill Fund LM % 1180.17 

b Inti Guaranteed Fund S 137216 

b Stonehenge LM — S 175957 

LEHMAN BROTHERS 01/11/94 
d Asian Dragon Port NV A_ S 1851 

d Aston Dragon Port NVB S 10X9 

d Global Advisors II NV A S 1043 

d Global Advlswrs II NVB S 1041 

d Global Advisors Port NVAJ 10X7 

dGtabal Advisors Port NVB J 107? 

d Lehman Cur Adv. A/B S 751 

d Natural Resources NV A— 5 959 

d Natural Resources NV B S 959 

d Premier Futures Adv A/B J 10.13 

UPPO INVESTMENTS 
24/FUppo Tower Centre. 89 Quee ns w o vitK 
Tet (552) 867 4M8 Fax (852) 396 0381 

w Java Fund S 9X3 

w Asean Fixed Inc Fd S 8X3 

wiDR Money Market Fd S 1299 

0 USD Money Market Fd s 1055 

wtadoneslm Growth Fd 1 2456 

w Aston Growth Fund— —5 8X3 

w Asian Warrant Fund S 456 

LLOYD GEORGE MNGMT (S52) 84S 401 

w Antenna Fund S 1852 

w LG Asian Smaller Cos Fd i 197179 

nr LG India Fund LM S 17.16 

w LG Japan Fd S 1055 

wLG Korea Fd Pic S 1197 

LLOYDS BANK INTL (BAHAMAS) LM 
IV LJoyds Americas Portfolio-* 9X4 

LOW BAR Ok ODtER B CIE - GROUP 
OBUFLEX LTD (Cl) 

d Multi currency 8 3351 

d Dollar Medium Term 5 24.17 

d Dollar Lang Term S 1956 

d Japanese Yen V 49S2JJ0 

d Pound Starting . . J 26X3 

d DeutacheMark DM 1750 

d Dutch Florin FI 18.1? 

d HY Eurocurren ci es Ecu 1553 

d Swiss Franc SF 1353 

d US Dollar Short Term s 1352 

0 HY Euro Curr Dhrid Pay — Ecu 10X4 

0 Swiss Mutftcumncv SF 16JS 

d European Currency ——Ecu 2I7S 

0 Betotan Franc BF 13570 

d Cawverme s 1493 

0 French Franc FF 154.13 

0 Swiss MuUFOMdend SF 95C 

0 Swiss Franc Short-Term SF tout 

d Cantu* an Daflar CS 13X1 

0 Dutch Florin Mum. _FI 14X6 

0 Swiss Franc Dlvfd Pay SF 1056 

0 CADMuttlcur.Olv CS 1250 

d Mediterranean Curr SF 1072 

0 CuBvgrrtWes SF 9X4 

0 Deutschmark Short Term_DM 1856 

MAGNUM FUNDS We Si Man 
Tei 44-624 488 320 Fax 44X24 688 334 
wMogmuFunrt 91X4 

w Magnum Moltt-Fwxt ■ A 9196 

iv Magnum Emerg Growth Fas 89.12 

wMAgnum Aggres. Grwth Fd* 9358 

MALABAR CAP MGMT (Bermuda) LTD 

mMotabar inri Fund S 1857 

MAH INTERNATIONAL FUTURES 


d Oder Eorooean DM Ilk. 

w Oder European S 130. 

wOdevEuroo Growth Inc DM 131. 

wOdevEurep Growth Ace — DM 134 

wOdev Euro Grth Ster Inc — £ SC 

wOdey Euro Grth Star Acc _£ 54 

OLYMPIA CAPITAL INTI- INC 
WBliams House. Hsnlltan HM7T. Bermuda 
Tel: 109292 1018 Fax: 809 295-2385 

iv Finsbury Group S 222 j 

tr oiynsrig Secmtte SF SF I6L 

w CHympta Stare Emerg Mkts* 977, 

w Winch. Eastern Dragon S 17: 

w Winch. Frortter S 380, 

iv Winch. Fut. Olympta Star _s 163, 

wWlnch.GI5eclncPMA) — S 8J 

tv Winch. G( Sec Inc PI (C) — S 9. 

m Winch Gtatxd Hwimc ore ^Ecu 1D9.1 

iv Winch HMg lidT MmSoon — Ecu 15241 

iv Winch HUg IMI Ser D Ecu 17941 

nrWIndl. HMg InTI Ser F Ecu T785J 

w Winch Hldgoty Star Medgrt 1005.1 

0 Which Reser. Mulfl. Gv BdJ 111 

iv Wi n chester Thai lend s 33.- 

OPPENHEIMER ft CO. IRC Fds 

b Arbitrate Intamottono) S 1054 

b Emerg MMs Itfl II 5 TfflJ 

b Inn Hortzgn Fund II 8 *9J 

OPT WEST LUXEMBOURG 
b Ogtfgest GIW Fd-Flxed Inc-DM 15354 

b OntlgestGIblFd-GenSub F5)M 17971 

OPTIMA FUND MANAGEMENT 
73 Front St HominoraBerTnudo W92ISB65B 


w New Korea Grown Ffl S 1360 

w Hava La) Ptxiflc (nv Ca— X 5373) 

w Podfle AroBros* Co— J 10X1 

mILL Country WntfPd. 1 22183 

d RegentGTOI AmGrih Fd S 65920 

d Regent Gtai Euro Grth Fd_S 49933 

0 Regent GW Inti Grth M 5 13252 

0 Regent GW Jan Grth Fd s 2X593 

d Regent Gfci Petit Bata — 5 4X42 

d Regent GW Reserve s 25961 

d RegenJGttt Resources s 27245 

d Regent GM Tiger 8 3.1798 

d Regent Glbi UK Grth Fd_S 17f» 

iv Regent stoohut FdLtd s 999 

m Regent Podfle ms Rt s • 12M469 

0 Regent Sri Latdta Fd t HU9 

d Undervat Att Tdiwaa Ser 35 
w Undervalued Asets Ser l_5 11x6 

d Undervalued Pros M2 5 

d white User lay Co Lid 1 

REPUBLIC FUNDS ' 

wRanttaTcGAM S 138. U 

wRenabDc GAM America — s 11457 

nr Ren GAM Em Mkts Global^ T5B74 

0 Ren GAM Era Mkts Lot AmS 12&72 

wRencbliC GAM Europe CHF5F 112X6 

•vRsmbHc GAM Europe USSA 9839 

wRBWtMc GAM Grath CHF-SF 11037 

0 Republic GAM Growth 4 ( 99X1 

iv Republic GAM Growth US1S I47JB 

>v Republic GAM Opportunity S TU4 

nr Rmbhc Gam Padflc s 146J2 

w Rep Gtab Currency KS750 

w Hep Gtab Fined IRC 5 10Z7J3 

w Republic Greev Doi Inc — S 1026 

w RrambHc GfBOV Eur Inc — DM 1042 

w Rentaiic Lot Am AI)0C_— S 99X8 

w R e p ub lic L nt Am Argent— 9 9183 

w Republic Lc4 Am 18021 

wReouftHe Lot Am Motto S 9V2S 

tv Republic Lot Am VMz. — S 7977 

iv Rep Satamod Strategies 8 88X3 

ROBECO GROUP 

POB 973a*» AZ ItsllerttoataniBWCM 

d RG Amerien Fund FI 13470 

0 RG Europe Fuad F? 12590 

0 RG Pocffic Fund ■ . -FI 14260 

d RG DMrtote Fund F! 5360 

d RG Money Ptas F Ft R 11445 

More Robecn see Am ste rdam stocks 
ROTHSCHILD (GROUP EDMOND DEJ 
IN-HOUSE FUNDS 

tv Alton Capital HoWtass Fd_S 6254 

iv Data LCF Rothschild Bd_S KXQX9 

IV Datwa LCF tatihsch Ea S 1045.10 

0 Force Casn TratfBion CHF _SF 10494X5 

— i . * 271423 

w Leveraged Cap Holdings _S 6157 

nrObU-Valor. SF 946.1* 

wPriCtnKengc Swiss Rl SF 10S7X9 

b Prieouity Fd -Enrage Ecu 116335 

b Prlequlty Fd-Hrtvelia SF 103559 

b Prtequtty Fd- Lotto Am S 14950 

b Prttend Fmtd Ecu Ecu 116X55 

b Pribond Fund USD S 109.967 

b Prftond Fd HY Enter MktsX 119.14} 

nrSetedtve Invest SA S 367X16 

b Source S 18X2910 

nr US Band Plus S 921742 

wVcricUus Ecu 10ZL51 

ROTHSCHILD (GROUP EDMOND DE) 
OTHER FUNDS 

d Asia/ Japan Emerg. Growths 17XR40 

w Esnrfl Eur Partn fmr Tsl Ecu 134832 

w Ebtod Strafes hivestm td_Ecu 105530 

b integral Futures I 920.11 

d Pactfle Nies Fund S 927 

t SriecfEaa Horizon FF 8177406 

b Victatrr Arlane S 510868 

ROTHSCHILD ASSET 6IGMT (CJ) LTD 

mNemrod Leveraged HM S 05671 

SAFDIE GROtTP/KEY ADVISORS LTD 
m Key DhiersIFied Inc Fd LttLS 1171192 
b Tower Fond GJrtoal Eooa_S 994453 
b Tower Fund Global Equity J 998879 

SANTANDER HEW WORLD INV. 
mOmwiwnrW PwnH * 106778 

m Explorer Fma S 122338 

SC FVMUUMEirrAL VALUE BVI LTD 
Tel S99 9 322000 Fax 9999322831 

PtNAV S 132951 

SKANDINAVSKA ENSKtLDA BAN KEN 
S-E-BANKEN FUND 

H Fmrwir. Inr » Ijjg 

e Barron Qstens Inc S 153 

d f^rwil Inr S 151 

0 Lofcaroeoel lire S 0L92 

0 Vpridnlnc S LOB 

0 Japan Inc Y 87X6 

0 Mflla toe S 073 

d Sverige Inc Si* 1811 

d N or daroertkn inc S 078 

0 TeftmataBl inc S 1.14 

d Sverige ftmte fo uJ inc Scfc 1072 

SKANDIFONDS 

d Equity Inti Acc S 1725 

d Equity inn Inc S 1183 

d Eaultv (Babel S 1.55 

0 Equity NaL Rmaarces S 137 

0 Equtty Janan Y 9652 

0 Equity Nordic s 1X8 

0 Equity UJC I 1X2 

0 Equity Continental Eurene-S 170 

t Eouirv Metfiterrancan S 076 

0 ganttr North Ametl m s 256 

0 Eoalty Far East % 52} 

0 Inn Emerging Marked i 1X6 

tf Bend lrrtl Acc S 1251 

0 Bond Inti In r t 7X5 

0 Band Europe Acc S lxi 

0 Bend Europe inc S 154 

d Bond Sweden Acc Sck 1435 

d Band Sweden inc- sek 7026 

d Bond DEM Acc OM 125 

0 Bend DEM Inc. DM 073 

d Bond Dollar US Acc S 1J7 

d Band Doitar US inc— S 154 

d Curr. US Dollar S ijj 

d Curr. Swedish Kronor— Sck 1270 

0 Sweden FtextoteBdAcr Sek 9M 

d Sweden Rextaie Bd Inc Sek 97S 

SOCIETE GENERALE GROUP 


d Asia Fund Y 

d BTWCatA— _l 

d BTWCot B S 

w SGFAM Sins Fd Dfv FF 

tr SGFAM Straf Fd Fin S 

SOGELUX FUND (SF) 

w 5F Beads A U2A S 

wSF Bands B Germany DM 

0 SF BandsC France FF 

w5F Bonds E CB C 

wSF Bands F Japan Y 

w SF Bonds G Europe —Ecu 

wSF Bonds H worldwide S 

iv SF Bonds mate Ut 

iv SF Banos JBetotem BF 

tv SF Eq. K North Amerien — S 

nrSF Ea L WXurape Ecu 

w SF Ea M Podfle Bosui Y 

«v5F Ea P Growth Countries X 

wSF Eq Q Goto Mines S 

IV SF EaR worid Wide s 

tv 5F Short Term S France FF 

wSF Shari Term T Eur.. Ecu 


CREDIT COMMERCIAL DE FRANCE 


d Etaees Moncmi ro « 

0 Sam Adlcash USD B s 

CURS1TOR FUND 

d Cureitor East Aslan Ea s 

1 £ urs !!? 9 ,w “ 000011 * 

d Cureitor Gl«i Gwfn 5ub-FdJ 
DARIER HENTSCK GROUP 
Tel 41-2? 708 68 37 

d Hentjch Treasury Fd SF 

d DH Malar Merits Fund SF 

d DH Mandarin Portfolio SF 

d Samurai Portfolio- SF 

DISCOUNT BANK GROUP 
w EurovoJ Eaultv c-. 

w N. America Equity S 

w Pacific Equity. j 

woaiva) Band j 

0 Multicurr. Band SF 

tr iMuHkurrency Band FF 

w Multicurrency Bon d n u 

DIT INVESTMENT FFM 



mMtat Limited -Ordtoorv — 3 3956 

mMM Limited • Income— S 11.95 

m Mint Gtd Ltd- Spec Issue —X 2SX7 

mJAlnl Gtd Ltd -Nov 2002 S 3819 

mMInt GM Ud ■ Dec 1994 S 1723 

m Mini GW LM- Aug 1995 S MX4 

mMintSpRKLM(BNP) S 94X3 

mMtat Gld Currencies S 6X9 

ntMinlGM Currencies 2991 — S 6X9 

m Mini GGL Fin 2883 S 572 

m Mint Plus GW 2083 S 92S 

mAthenu GW Futures s 12X4 

in Athena Gtd Currencies S 9.16 

m Athena GM Finenctals CopX 979 

m Athena GW Finonctats lnc_S 9X7 

PJAHL capital Mkts Fd S 1174 

mAHL Ceawitadhv Fund 1 11J8 

m AHL Currency Fund S 7X1 

mAHL Real Time Trod Fd _s ixo 

m AHL GW Real Time Trd — S 891 

m AHL GM COP Mark Lid s 956 

mAHL CM Commodities Ltd J 1050 

nltts Guaranteed l**s LM — S 150 

m fito s Leveraged Rearv. Ltd x 1863 

to map Guaranteed am 1 oxo 

ffl MAP Gtd 2001 S 9X7 

MARITIME MANAGEMENT LTD 
73 Fnni St Hamilton Bermuda (809)272 97S9 
0 Maritime Mil-Sector 1 LW_5 90751 

w Maritime GW Beta Series _S 81528 

w Maritime GR6 Delta Series X 78173 

MATTHEWS INTERNATIONAL MGT 
EMERGING ASIAN STRATEGIES FUND 

m etas a s nrj) 

M m— a * 117,14 

PACIFIC CONV STRATEGIES FD LTD 

m Clog A 1 *858 

d CtaSSB S 9825 


» Optima EmeniM FdLtd — S 186 

0 Optima Find 1 177 

w Optima Futures Fund s 17X 

w Optima Global Fund J6 142 

w Optima Pertcuia FdLM S 97 

w Optima Short Fund— _S 75 

w The Ptottnom Fd Lid S 107 

ORBITEX GROUP OF FUNDS 

d Orbl lex Asia Poc Fd s 5X19 

d Ortltek Cam ft Into Tech FdS 5.192 

d Ortftex Growth Fd S 7X20 

d Orbltes Health ft Envir Fd j 5.T90! 

d Ortttex Japan SmoH Cop Fds 4BHi 

0 orattex Natural Res Fd Cs M.1I7I 

FACTUAL 

0 Eternity Fund Ltd S 3005674 

d Infinity Fund Ltd S 582587: 

0 Nnvasfar Fund — S 1165591 

d Star High Yield Fd Ltd S 1W38» 

PARIBAS-GROUP 

w Luxor 1 8X! 

dPanrestUSAB * 2251 

d Pervert Japan B Y S681J* 

d Porvesl Asto Port) B S 74M 

d Porvest Europe B Eat 25 Jk 

d Porvesl HBlktod B FI 13463 

d Porvest France B FF 118861 

d Por v es t Germany B OM 29151 

d Porvest OtMLOoltar 8 J 173X1 

d Porvest OtHFDM B DM 37273 

d Porvesl DbiFYen 8 Y I616&M 

d Porvest Obll-Gukten B FI 31813 

d Ptrvesf OMf-Fronc B FF 761X3 

d Porvest ObO-Stor B t 7*74 

d Porvest OblLEce B Ecu 13850 

d Porvesl QblFBvius B LF B52650 

d Porvesl S-T Dattar B S 1227a 

d Porvest S-T Europe 8 Ecu 13459 

d Panrat S-T DEM b dm 27BJ* 

d Porvest S-T FRF 8_ J=F 927X9 

d Porvesl S-T Bef Ptas B BF 05150 

d Porvesl Gtobof B LF 7*1250 

d Porvest lnt Bandfl S 2256 

0 Porvest Obit-Uro B Lll 52111750 

0 Porvest lnt EouWes B S IT 122 

0 Panrat UK B c B951 

0 Porvesl USD Plus B 1 94® 

d Porvest S-T CHF B SF 25414 

d Porvesl OMFQmada B CJ 187.18 

d Porvesl OMM3KK B DKK 724.90 

PERMALSROUF 

f EmeroinBMktsHkiBl S 92976 

f EiroMIr (Ecu) Ud Ecu 156458 

f F3L Flmckita ft Futures -5 99358 

t Growth N.V S 27*423 

t investment Hides N.V s 131459 

f Media ft Commuoicattara_s 10666 

t Host® LM S 1862X9 

PICTET A CIE • GROUP 

d Amerosec » S3J0 

w P.CF UK VaJ (Linl c 6404 

■v P.CFGennovat (Lux) DM 98Z7 

wPXLF Neramvol [LuxJ 1 2900 

w P.CF Vollber (Lux) Ptas 904050 

0 P.CF VaBtaBa (Lax) Ut IM24E50 

w PX1F Voffranee (Lux) FF H21 x* 

ir P.U.F. VMbOfxJ SFR (LW) ^F SL99 
wP.UJ'.Votaond USD (Lu*) JS 22971 

wPXl.F. Vataond Ecu (Lux) -Ecu 17833 

0 P.VJF. VOSMOO FRF (Lux)-FF 92770 

W P.U J. Voteond GB P ( LwJ-t 9*77 

wPAJj:. Vaiband DEM l Lux) DM 26679 

ir P.U.F. U5SB0 Ptfl (Lux)— 5 79X08 

iv P.U.F. Model Fd Ecu 1 1419 

wPJLF.PtCiite 5F *7127 

nrp.U.T. Emerg Mkte (Lux) _S 21)50 

w P.U.T. Eur. Opnort (Lux) —Ecu 14813 
b P.U.T. Globa) value (Lux) -Ecu M229 

IT P.U.T. Eurevex (Lux) Era 2155* 

d Pictet VOtoifwICH) SF 61755 

m toll Smafl Cop (IOM) S *9355 

PREMIER INVESTMENT FUNDS LTD 
e/d PS. Bex 1 108 Grand Cayman 
Fax: (8091 9190993 

m Premier US Eauity Fund— 5 l20iXB 

roPremter IMI Eq Fund —3 127*59 

m Premier Sovereign Bd Fd—S 7S356 

m Premier Global BdFd S 1*7470 

m Prtmitc Total RehiraFd—S 98759 

PRIVATE ASSET MGT GAM FUND INC 
Guernsey ;Tei: (00*4 ai) ra<32 Fax: 723438 


soomc ASSET MANAGEMENT INC 

ir SAM Brazil S 25835 

w SAM Dhrersifled— 5 13256 

wSAM/McGan- Hedge S 122X6 

w SAM Opportunity S 13829 

w SAM Oracle s 11126 

w sam strategy s IUX6 

nrAWtoSAM S I248S 

w GSAM Composite S 33&X0 

SR GLOBAL BOND FUND INC 

mClass A Distributor S 1012* 

ntCiasAAcainMitator s 101.18 

SR GLOBAL FUND LTD 

m Sr European s 9979 

m SR Asian 1 10653 

mSR Irtteritoftanol S 10472 

SVENSKA HANDELS BANKER SA 
1*6 Bade to Petrtme, L-2330 Lu xem bo u rg 


nr Private Asset Mgl GAM Fd S 
PUTNAM 

d Emerging Hlth 5c Tn»t — * 
w Putnam Em. inta. Se. TnsiX 
d Putnam Gtab. HWi Growths 
d Putnom High inc GNMA F«l 

0 PuTrkkn I nfl Fund S 

QUANTUM GROUP OF FUNDS 
w Aston Development — —i 
w Emerolng Growth Fd N.V_S 

w Quantum Fund N.V. S 

0 Quantum industrial —J 


b SHB Band Fund S 

wSvonsfcaSeL FdAmerSfc S 

wSvensknSeLFd Germany _S 
w Svenska SeL Fd Ion Bd ShA 

wSvenskaSeL FdlnrtSh 5 

wSvenska Set Fd JaPut— Y 
wSvensko ScL FdMW-Md— Sek 

wSvtraka SeLFd Nordic SEX 

w Svenska 5*L Fd Poclf 5h — S 
w Sronsko Set. Fd Swed Bds-Xek 
SWISS BANK CORP. 

0 SBC 100 index Fund SF 

d SBC Eaultv Ptfl-Australla— AS 

0 SBC Equity Pffl-Canada CS 

0 SBC Ewfty Pffl-Europe — Ecu 
0 SBC Ea PHFNettier lands — R 

0 SBCGovT BdBS S 

0 SBCBondPID-AustrSA AS 

0 SBC Band Ptfl-Aidr SB AS 

0 SBC Bond Ptfl-ConSA CJ 

0 SBC Band PtfKanSB CS 

0 SBC Bold Ptfl-OM A DM 

0 SBC Bond PHFDMB DM 

0 SBC Bond PKKXitrii G.A-FI 
d SBC 8ond Ptfl-Duteh G. B_FI 

0 SBC Bond Ptfl-Ecu A Ecu 

0 SBC Bond Ptfl-Ecu B Ecu 

0 SBC Bond Ptfl-FF A FF 

d SBC Bond Pttt-FFB FF 

d SBC Band PtfH»tas A/B_Ptas 
0 SBC Bond Ptfl-SteriJng A — t 
d SBC Band Pltt-Stemm B — C 

d SBC Bond Portf* h*SF A SF 

d SBC Bond Parttalto-SF B SF 

d SBC Bond PtB-USJA S 

0 SBC Bond PtfMJSSB S 

d 5BC Bond Pin-Yen A Y 

d SBC Bond Ptfl- Yen B r 

d SBCMMF-AS AS 

d SBC MMF - BFR- BF 

dSBCMMF.CaiS CS 

d SBC DM Short-Term A DM 

d SBC DM Short-Term B DM 

d SBC A6MF - Dutch G FI 

d SBC MMF - EGO Ecu 

d 5BC MMF - Esc Esc 

d SBC MMF - FF FF 

d SBC MMF -Lit Ul ‘ 

d SBC MMF- P»S Pta 

d SBC MMF - SrttWtog AS 

0 SBC MMF -Sterling c 

d SBC MMF -SF SF 

d SBC MMF - US - Doitar S 

d SSCMMF-USVII S 

d SBC MMF - Yen— ..Y 

dSBCCW-PtflSFGrft SF 

d SBC GKrt-PHI Eeo Grib Ecu 

d SBC Gtei-Ptft USD Grth— —S 

0 SBC GibFPtfl SF YM A SF 

d SBC GW-Ptfl SF YM B SF 

d SBC GIW- Ptfl Ecu YW A Ecu 

d SBC GIM-Fffi ECU YM B Ecu 

d SBC Glbl-Ptfl USD YM A J 

d SBCGW-Ptfl USD Ytd B X 

d SBC GM-PHi SF inc A SF 

dSBCGIM-PHISFIIKB SF ■ 

d SBC GtoFPttl Ecu Inc A Ecu 

d SBC Glbl-Ptfl Ecu Inc B Ea 

0 SBC Glbl-Ptfl USD Juc A s 

d SBC GM-PIR U5D inc B S 

d SBC GM PHHJM Growth _Dm 
d SBC Glbi Ptfl-DM YM B— DM 

d SBC Glbi Ptfl-DM IK 8 DM 

d SBCGU-PIfl DM Bal A/B— DM 
d SBC Gtai-Pifl Ea Bat A/B.Ea 
d SBC GM- Ptfl SFR Bal A/B.SF 
d SBC Glbi-pm USS Bal A/B 2 
d SBC Emerging Markets s 

tf SBC Small EMM CBN Sw-SF 

d SBC Nat. Resource USS S 

d SBC D/n Floor CHF 95 SF 

d SBC Dm Floor USD 95 s 

d AmericoVatar— — — — j 

0 AmPaUnlHr t 

d AstoPorttoflo— s 

; Con. tri Bond Selection SF 

d D-Mark Bad Selection DM 

d Dollar Band Selection | 

0 Ea Band Selection Ecu 

d Ftortn Bond Selection FI 

a FnmrpVnlnr nc 

d GgnnantoVotar - n u 


IF 167*50 

U 20550 
S 21850 

:a 18950 

H 39450 

102225 
A W52 

5 116X6 

3 10258 

3 12419 

m 1555* 

IM 17727 

: 1 1555* 

1 176X2 

to 104X7 

to 1Z7.10 

F 52927 

F 651X5 

tas 929150 

*972 
59X4 
F 1063X5 

F 137ZL20 

97X4 
108.79 
10*57250 
11477550 
S *412X8 

F 11508250 

t 4870.11 

M 1050X3 

M 135875 

I 752471 

a 386377 

K <7862750 

F 25BS3J7 

It 556475950 

to 37676050 


dGoMParttoOe— > 

d iDeriavuior fM 

d ttatVntar .-I* 

d JoponPortfodo— - Y 

d Storting Bond Oetectlan £ . 

0SW. Foreign Band SatoctlonXF 

0 5wl«Vo6ar _____ SF 

d Uniimnal Band Selection— SF 

d IMvenal Furta SF ..IJSS 

d Yen Bad CtlecIlMi v 117S9J0 

TEMPLETON GLOBAL STRATEGY SICAV 

dGtabtfGrowmaA ft W63 

d Gtahol Growth a B 

d DM Global Growth dm J18» 

d Smattor Comoatn Cl A — S 1Z£ 

dSmaflefCoowaieiaB— s 970 

d iBfradr.&CommuflettHoiLS 9^ 

d Pon-AmerlamCIA.. .5 1772 

d PBoAnwricaOB * IM 

0 *-»— - 5F 1073 

0 Fur Era s 1433 

d Chinn Gateway A 7X5 

0Emtrgi«#JAig*M»aA * . 17X2 

d Emerging Markets a B s 10X3 

d Glabaf Ufllfftek S 977 

0 Gtabat CoRvcribie % 1030 

d Gtebal BeNtoeed. ft • 1031 

0 Global IncomoCI A S ■ 11X2 

d Global Income Q ft S 1816 

0 DMGWtatBond DM 1041 . 

nvto imwmt v 991 JO 

0 Emerg Mkta Fix Inc a A S 1U7 

d Emerg Mkts Fixing a B— 8 IOM’ 

dUSGmwnwM S 922 

d Havau-j : _SF ■ 1879 

0 uss LiooM Reserve— s ‘1056 

d DEM LkoM Reserve —DM . 1083 

TEMPLETON N WIDE INVESTMENT? 

GROWTH PORTFOLIO 

0 Oas&A-l __s • rus 

0 OassA-2 : S 1810 

d OassA-3 US 

d Ckss B-l i S 1119 

d OOP B-l S 17X4 

INCOME PORTFOLIO . 

d CteSSA S - - 9X4 

0 Class B — J 950 

THORNTON INVESTMENT MGMT LTD 
33Qoeen5LLondon.SC4RlAXB71 2*4 3000' . 

dPocHInvtFd&AC c 1451 

0 PoeaiRVtWSADM —DM 3*46 

d Eastern Cnsader Fund s UJi 

d Thar. UH1 Dragees Fd Ltd X 4172 

dTbornton Orient IK Pd LM* 2778 

d Thornton Tiger FdLM 1 5720 

d Mcnoged Selection S 22J* 

w Jakarta S 1477 

d Korea ft 1829 

NEW TIGER 5E1- FUND 
0 Hang Kong c 51X2 

0 Wm * J743 

r Korea : S 950 

0PhBtaptaes s B4SB 

0 Thailand _js 2650 

0 Matorsta S 2453 

d Indonesia S 823 

d USS Ltankfltv S 1036 

d China s I67S 

d Singapore : S 26X5 

THORNTON TAIWAN FUND 

d Equity Income i 15.16 

d Equity Growth % 17.14 

d Lknddiry S U50 

UEBERSEEBANK Zurich 

dB-Fuad SF 11B4X1 

d E- Fund SF 60758 

0 J-Fund SF 33X4 

dM-Funa SF 119379 

d UBZ Eura-lnoome Find SF 1021 

0 UBZ World income Fund —Ecu 5230 

d UBZ Goto Find £ 12459 

d UBZ Ntegen Convert SF 1MX6 

d Asia Growth Convert SFR -SF 116259 

d Asia Growth convert USS— t 113828 

d UBZ DM- Bend Fund DM 99X6 

d UBZ D- Fuad DM lOU* 

0 UBZ Swiss Equity Fund .—SF 109X4 

d UBZ AmertocnEa Fund S 93X8 

d UBZ S-Bood Fond. ... % 91X6 

d UBZ Southeast Asto fcf _ft 15242 

mUBZDivereWed Strafes A .ft 108132 

AtUBZ DtvereHtedStrgtes B_J 100X37 

UNION BANCA1RE ASSET MGT (UBAM) 
INTERNATIONAL, NASSAU 

wArdeUnvest S 2*8X40 1 

wAnntavut S 10)057 2 

wBocoHn S 109251 z 

wBecktavnst S 127872 z 

wBrudnvesf S 11713Hz 


wDtavest S 2537. 

•vDtnvesf Asto"S S 1094 

ir DinveetGoM ft Metals— —S 1002. 

wDtovest Inttto I 929. 

0 D Invest Inti Fix Inc Strut -JS SS8 

w Jagtovest % wr. 

w Moral n vat s 937. 

•vMartbnrat 9 1395. 

wMourtnvest J 3546. 

wMourinves>C0niine4ed S ML 

w Mourtnvest Ecu Ecu 16)9. 

wPutanr S 1839. 

wPutaor Overly —8 1708 

w Quontlnvest % 23SX 

■ ft rri liMrf n 4 135*1 

ivSteininvraf % M0S. 

wTotJtavest : % 11041 

wUralnvest t 626J 

UNION BANCAJRE ASSET MGT (UBAM) 
INTERNATIONAL, LUXEMBOURG 


w UBAM S Bond 8 

» UBAM DEM Bend DM 

tr UBAM Emerging Growth _3 

0 UBAM FRF Bold FF 

w ubam Germany jjm 

w UBAM Gtabm Bend— —Ecu 

ir UBAM Japan Y 

w UBAM Star! tog Bond C 

w UBAM SmPPCU ft Asto- A 

wUBAM USEqufltes. S 


UNION BANK OF SWITZER LAND/1NTRAG 


d «° 

d Bend- Invest- ..SF 

d Brit-inveN SF 

0 Came SF 

0 Convert -Invest SF 

d D-Marfc-lnveN OM 

d Dcttaf-inveji % 

d E n e r gte Invest SF 

d Espoc SF 

d Eurit SF 

d Fonsa ; SF 

. 4/ninm «' 

d Germoc SF 

d Gtobbivesi SF 

d GobHnvest SF 

d Gukten-lnvest R 

d Helvettoves) SF 

0 Hoiland-lnvesi SF 

d Itac SF 

d Jcpan-tnvest _5F 

dPocMeJmrat SF 

dSofil SF 

d Skontinovten- Invest — SF 

0 Stertlng-lmrat C 

d Swiss Fronotinral SF 

0 Sima SF 

dSwissreal ftF 

d UBS America Latina SF 

0 UBS America Latina S 

d UBS Asia New Itor fao n SF 

d UBS Asto New Horizon s 

d UBS Satol C Europe SF 

0 UB5 Smafl C Europe- DM 

d UBS Part lav SFR Inc SF 

d UBS Pori ln« SFR Gap G— SF 

d UBS Part lav Ecu Inc SF 

d UBS Part Inv Ecu Ik Ecu 

d UBS Part lav Eat Cap G—SF 
0 UBS Port Inv Ecu Cite G — Ecu 

d UBS Port Inv USS tac S 

d UBS Pori Inv USS Ik SF 

d UBS Part Inv USS Cap G—SF 
d UBS Perl inv uss Gte> G _s 

d UBS Pori inv DM Inc SF 

0 UBS Pari lav DM IK DM 

0 UBS port Inv DM COB G SF 

d u BS Part Inv DM Cap G— DM 

d UBS Port IrrvLt! Inc XF 

d UBS Port inv Ut Inc Ul 

d UBS Port ImrUt Cop G SF 

d UBS Port inv LU Cap G Ut 

d UBS Part Inv FF Inc SF 

0 UBS Port Inv FF ik FF 

d UBS Par) Inv FFCapG SF 

d UBS Port Inv FF Gap G FF 

d Yen-lnvest Y 

d UBS MM ImraMIS 1 

d UBS MM Invest-cst t 

d UBS MM invest-Ecu Ecu 

d UBS MM Invest- Yen Y 


42JBV 
55. Mv 
M1X0 y 
7L75V 
122X0 v 
19070 y 

1BL11 y 

11250 V 
15158 y 
341X0 y 
296X0 V 
- 19450 V 
24350 y 
18750 V 

22800 V 

34850 v 
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33100 y 
141X0 y 
341X0 y 
45150 y 
230X0 y 
25350V 
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19670 y 
237X0 
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7878 y 
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d UBS MM InvesMJf . 


d UBSMMIm*s»-5FR SF 

d UBS MM InvesLFF FP 

0 UBS MM ineedlMFI -Ft 

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0 UBS MM Inveat-BFR BF 

0 UBS Start Term JnvOM— DM 

0 UBS Bond Inv-Ecu Ecu 

d UBS Bond Inv-SFR SF 

d UBS Bond httoOM DM 

0 UBS Bond Inv-USS S 

d uas Bond Inv-FF FF 

d UBS Band Inv-Con * CS 

d UBS Bond Inv- Lit ,ui 

d UBS B.WJSS Extra YteJd s 

d UBS Fix Term Inv-SFR 96 -SF 
d UBS Fix Term lnv-DM94 — dm 
0 UBS Fix Term Inv-Ecu 94_Ecu 

d UBS Fix Term Inv-FF 96 FF 

d UBS Ea Inv-Eerepe A— dm 

0 UBS Eq tnwEurapo T DM 

0 UBS Eq inv-S Cto USA S 

d UBS Port I Fta Ik (SFR)— SF 
0 UBS Port 1 Fix IK (DM1 —DM 
0 UBS Pert 1 Fix Ik {Ecu)— E cu 
0 UBS Port I Fix Ik (USD— S 

0 UBS Port I Fix tac (Lit) Ul 

0 UBS Port I FIX )K (FF) FF 

0 UBS cap lnv-W/18 USS 5 

d UBS Civ Inv WTO Germ — DM 
WORLD FOLIO MUTUAL FUNDS 
d S Daily income— —s 

0 DM Dally Income DM 

0 5 Bond Income S 

0 Non -S Bonds S 

0 Gtoboi Bttods j 

0 Global Batancad S 

d Global Eovflles S 

0 US Conservative Equities _S 

0 USAgresitve Equities S 

0 European Equities S 

0 Podfle Equates 

d Natural Resources S 


Ut .1877*1100 


15155 
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m Columbia ftaWtoB 3 - 

m Concorde Inv Fwia - > 

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0 Convert. Fd Inti 8 Certs— ft 
mCralaPryiCtaP - 
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mCRM ftttore sFwM LM — S 

w CRM Global FdLM —ft 

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v Curr. Goneenr 2000 — S 

d D.WHterWldlMdeivlT»j* 

m a&c — » 

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rf DBSC / Nafln BfzXi Fund — 5 

iv Derhrctfve Asset AfloC 5 

w Defector One LM — % 

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t pvT Performance Fd— S 
m Dynasty Fund 9 

iv Egs Overseas Fund LW — 5 

m Elite Wo rld Fun d Lfd. SF 

m Emerge Cntthtf-— * 

it EirtBefa.lnd.WttA |F 

tf EmI Beta. Ind. Ptas B BF 

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tf Em) Front* Intf. Plus B— FF 
d Etrt Germ. Ind. PMl A— W* 
tf Emi GctW. nM Pba B— DM 
d EtruNeflk1nd«PIU5A — Fl 
tf Emi Neth. Index Plus B — R 
tf EmiSpobi lod-PHtsA— Pta. 
tf Emi Spain ind. Plus R— — Pta 

tf Emi UK index Pha A -s 

tf Emi UK index Ptas B £ 

wEspir.Sta inv.Stti Eur Fd_S 
d Europe 1992. r S 

tf Europe OWflOfiOflJ -to 

m FMJP. Portfolio 5 

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w First Eagle Fund—. i— — ft 
w First Ecu Ltd— ——Ere 
mRrst Froorier Fund. us- 

er PL Trust Asia. ■■ ■ - — > 
nr FL Trust Switzerland — _sf 
d FondHnffn I 

nr Fen tax l Money— — SF 
w Feniw 3 - 1 ntf Band — J5P 

w Peumilttfon 10 Inti DM 

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For information on how to list your fund, fax Catherine de VIENNE at (33-1) 46 37 2 i 33. 





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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, NOVEMBER 5^, 1994 

== THE MONEY REPORT = 


Page 17 


re 


Few, but Fertile 


. ; . •■■ ByAtine Sulliv an 

e OMMUNICATIONS 
funds, or those focus- 
Ug on media and tele- 
com stocks, are sur- 
\\ grisingly few .in number. 
^ indeed; many professional in- 
■ vestors consider the sector too 
; 'unstable to be the prune invest- 
y irieat target of any fund, 
y ri-Tbc handful of existing 
!. fends, moreover, were buffeted 
Jaidier this year when investors 
• - tamed cool on emerging mar- 
■ Jcets, where the most dynamic 
growth in telecommunications 
. ^ systems is taking place. But by 
v. and large, communications 
! ; hmds have produced impres- 
*’ sive returns in the recent past. 

’ According to Upper Ajoalyti- 
*; cal Services, the New York- 
: based fond tracker, telecom- 
1 inunications funds have 
> jremraed an average of 1J33 
: percent over the past year and 
>: 118.10- percent over the past 
years. 

Perhaps best known is the 
GT Global T el ecomm unica- 
. tkms Fund, which has about 
* ■ S2.S.billion under management. 
I' It invests in telephone compa- 
• nies and related industries, such 
: as wireless communications, 

- computer networks and news 
■■ and entertainment services. The 
! fund has generated a 3.67 per- 
: cent retum so far this year de- 
| spite a 6.29 percent drop in the 
: first six months. And its perfor- 
' mance since its inception in 
: January 1992 is truly impres- 
' sive: a 60.5 percent ret ur n. 
Michael Mahoney, a portfo- 
lio manager responsible for 
' worldwide asset allocation at 
■ GT Global Financial Services 
in San Francisco, argues that 


the fund will continue to benefit 
from what he sees as the prima- 
ry themes in the telecom sector: 
deregulation, privatization and 
changes in technology and in- 
frastructure. 

The infrastructure theme is 
particularly significant in devel- 
oping economies. Fund manag- 
ers are fond of pointing out that 
China, India and Indonesia 
have fewer than two telephone 
lines for every 100 people, com- 
pared with 50 in the United 
States and almost 70 in Sweden. 
For this reason, global commu- 
nications funds are often pro- 
moted as plays on the em cr grng 
markets. 

“Infrastructure development 
in the emerging p conom i w: is 
continuing to be a powerful cat- 
alyst for the growth in service 
revenues and equipment sales,** 
said Mr. Mahoney in a recent 
note to investors. 

“While most of the telecom- 
munications equipment suppli- 
ers are first-world companies, a 
steadily increasingly proportion 
of their revenues is coming 
from sales to the emerging 
economies.*' 

Oscar Castro, manager of a 
telecom fund at Montgomery 
Asset Management ut San 
Frandsco, agrees. The $258 
million Montgomery Global 
Communications Fund invests 
in over 80 companies around 
the weald and has slightly more 
than half its assets invested in 
emerging markets. It has re- 
turned about 31 percent since 
its inception in June 1993 and is 
up almost 2 percent over the 
past 12 maims, despite a 12.24 
percent drop in the first half of 
this year. 

“The rate of development 
and utilization of new technol- 


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ogics in the emerging markets is 
so rapid that we believe the 
fund will do well for the fore- 
seeable future,** said Mr Castro, 
citing the rapid growth of cellu- 
lar sales in emerging markets as 
an example of growth. “People 
are not waiting for fixed-line 
telephones when they can have 
cellular.” 

Mr. Castro added that funds 
focusing on the global commu- 
nications industry should also 
benefit from the growth of the 
cellular phone sector and from 
the privatization of state-run te- 
lecom companies. “The supply 
of these new issues is improving 
rapidly," he said. “This will 
force valuations to come down 

and Tiiftlffi the f imrianiRnfals of 

these companies more attrac- 
tive to investors.** 

National telecommunica- 
tions concerns in France and 
Germany are slated for privati- 
zation, as are several in Latin 
America. 

Among the newest funds is 
the Templeton Global Infra- 
structure and Telecommunica- 
tions Fund, launched in April 
But the fund differs from other 
communications funds in that it 
invests just 22 percent of its 
assets in telecom and media 
stocks, with the rest in other 
mfrastrocture-related equities. 

“Telecoms should be long- 
term investments,” said Harry 
Ehrlich, the fund's Florida- 


lntmubonaJ HetaW Tnbone 

based manager, “They pro- 
duced a spectacular perfor- 
mance last year and then 
languished in the early part of 
this year. Now they are rising 
again. There are still massive 
opportunities in the sector. But 
it is much more volatile than 
infrastructure.” 

Three of the New York- 
based Gabelli Global Series 
Funds target the communica- 
tions industry, primarily in the 
United States but also overseas: 
the Global Telecommunica- 
tions Fund, the Global Enter- 
tainment and Media Fund, and 
the unforgettably-named Glob- 
al Interactive Couch Potato 
Fund. This last fund has earned 
5.4 percent since its launching 
in February. 

Other funds in the communi- 
cations stable include the 
Invesco World Communica- 
tions Fund, the Paine Webber 
Communications & Technol- 
ogy Fund, Gabelli's Global 
Telecommunications Fund, the 
Seligman Communications 
Fund, the Smith Barney Tele- 
com Fund, and two Fidelity 
funds that concentrate on U.S. 
telecom concerns, including 
many of the “baby bell” region- 
al phone companies. 

The Money Report 
is edited by 
Marlin Baker 


U.S. 'Superhighway’ Building a Bridge to Britain 


By Lrin Jenkins 

S OME of the first tangi- 
ble investment opportu- 
nities in the new media 
world are about to pre- 
i sent themselves. And they will 
i be offered by American compa- 
; Shies in what is widely seen, per- 
; turns surprisingly, as a “green 
fidd**site — rBntain; ^ 

So far cable and telecom ser : 
vices - haw tkiiberat^ be«i 
. kept separate in the ' O.S. and 
* Europe, often by the regulators. 

; But that is abort to c h a ng e, 

- creating investment opportuni- 
‘ ties ana risks. 

Lama THbian, media analyst 
at the Londonrbased brokerage 
! S.G. Warboigs, says: “Tbe su- 
perhighway is bang built from 
"= scratch in the UJC A lot of 
mone y will be made and a lot 
Will be lost At the end of the 
day it all depends on what the 
• consumer really wants.” 

•. Fbc the moment, U-S. cable 
coEBpanks seem, convinced that 
the consumer wants their vision 
of the future. TdeWest, a join t- 
■ venture of Tdc-Com m n ni ca- 
tionslne. and US West, is Lead- 
ing the way. This British joint- 
’ venture cable operation hopes 
to raise $600 minion before the 
' «adof the year. 

To add to the flotation ex- 
' dteanent, these new “supexhigh- 
i yncf* cable companies will be 
- co mp etin g with satellite tdew- 
son for investors’ cash. Media 
■ magnate Rupert Murdoch is 
* said to be planning to raise $1 

biffion by selling 20 percent of 

: ins television channel 

' BSkyB on Wall Street and in 
.the C^jtof London m.Deoem- 

' 'berJ' : ' r .2-- • 

. These "issues will pit media 
- v m^ gnatg - a gainst media EDag- 
zu£ and technology against 
; technology in a battle for in- 
: .v estmen t funds and for the 
■i “ hearts -and wallets of the oon- 
.* aHoer. 

• -_v And both rides have advan- 
tajges.The cable companies ap- 
. \ . pear to have the technology of 
! thc Tutnre, but they aren’t con- 
" nacted to many hones in Brit- 
). ria. Scy, on the other band, is 
already: in milli ons of homes 
; vaA has popular programs. 

• . Jonathan Helliwell, a media 
. I - analyst at the l»okerage James 
« Capd & Co. says: “Cable has 
! ah edge as a product because it 


offers tdq>hony as well as tele- 
virion. Furthermore, you don’t 
need to stick a satellite dish on 
the ride of your house. But Scy 
has the advantage of bring first 
into the market/* 

Mr. Murdoch appears to 
have grasped this advantage 
with both hands. He has tied up 
long-term deals with Holly- 
wood studios that give Sky ex- 
clusive access to thrir huge film 
libraries. And he has bought up 
tte rights to a number of popu- 
lar sporting events. 

TdeWest seems to be playing 
down the potential dash with 
BSkyB, e mp hasizi ng the differ- 
ence between itself and Sky. 
Stephen Davidson, TdeWest’ s 
finance director, says: “We do 
not see ourselves as competition 
but rather complementary. We 
are in the telecoms sector and 
BSkyB is a media stock.” 

_ U.S. cable companies are 
planning an assault on Britain, 
say many analysts, because they 
have run out of steam in their 


domestic market There is little 
growth left for pure cable oper- 
ations, add some, and until re- 
cently they were barred by reg- 
ulators from offering telecom 
services. 

Brendan Hoey, a media ana- 
lyst at the brokerage Morgan 
Stanley says that U.S. cable 
companies are mature business- 
es. “They are looking for new 
revenue streams,” he remarked. 
“Britain offers a new market 
and a chance to test oat the 
combination of cable TV and 
cable telephony.” 

Analysts note that amid a 
rush of new offers, it is easy to 
forget key questions such as: 
Does the consumer really want 
these new products? 

UJL research by Morgan 
Stanley shows that people with 
cable or satellite dishes spend 
only 32 percent of their viewing 
time watching the programs 


that those systems provide. For 
the rest of the time the public 
still prefers to watch the BBC or 
ITV programs. 

And another recent study by 
the U.S. research concern IN- 
TECO concluded that many 
people were unwilling to pay 


for interactive shopping, video- 
on-demand or other television- 
based services. The findings , 
suggested that cable companies j 
could lose large sums of money i 
in the short term, unless they : 
can change public opinion. 

So far, the investment com- 
munity seems convinced that , 
public opinion can be changed. 
Mr. Hefliweii at James Capel 
says: “People like the concept 
of' cable and telecommunica- 
tion companies but the price is 
gping to be crucial The techni- 
cal situation in the new issue 
market is not good. Institutions 
will want to be convinced they 
are not paying toe much.” 



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1. AUTOMATED TRADIHa STRATEGIST (TUUCDTF/BERKSTOK) * »J% 

2. WHAHTON UAKAQKMEMT OROOP. INC. * 

3L JA. PAJmttHJJ, 1-P. (JAMES J. LEOHARD) ♦ 

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Ji. ^ t ^EAb V IS MO NT. (PAUL SL FRANJQ ; 

SSTcaStAL MANAQEMEWT(V1KCLNT SCHAMT2J * »■»» 

11 WEMAWi CAPITAL MANACENENT * 

rnowm tsi jogooQjj - — 

1. OARRETTNAGELACO^Bm. * 

t AWSE CAPITAL BAWAGEMEin' — — — 1— — 


* 2.7% 

* 0B% 


A New Twist on Investing in the Movies 


By Earita Daswani 


M AKING money in 
the movie business 
is notoriously dif- 
ficult, but the op- 
portunities keep presenting 
themsleves. 

One of the latest plays on the 
block is a $75 million private 
fund placement from Phoenix 
Pictures Investors Lid. The of- 
fering has attracted significant 
interest from strategic, institu- 
tional and private high- net- 
worth investors in Asia, Europe 
and the Middle East. Insiders 
say that about 15 investors will 
have become significant share- 
holders by the end of the 
month. 

The capital will go towards 
films being produced by a new 
production company, Phoenix 
Pictures Inc., being set up by 
Mike Medavoy, former produc- 
tion head at Orion Pictures and 
chairman at Colombia TriStar, 


Legal & General To 
Launch New Fund 

Legal & General Investment 
Management, the fund arm of 
the large U.K. Insurance com- 
pany, is launching a closed-end- 
ed mutual fund. The investment 
objective is to achieve long- 
term capital growth through in- 
vesting in the shares of U.K. 
companies with “price recovery 
potential.” 

Minimum investment is 

£1,000 ($1 ,600). with an annual 
charge of 0.75 percent. The 
managers promise an initial 
gross dividend yield “of at least 
two percent per annum. ” 

For more information, write 
Legal & General Investment 
Management, Temple Court. 1 1 
Queen Victoria Street, London 
EC4N 4TP; or call (44.71) 
528.6200, or fax (44.71) 528. 
6226. 


and Peter Hoffman, previously 
president and chief executive 
officer of Carolco Pictures. 

Niles Helmboldt, c hairm a n 
of Silver Visions Management 
Ltd, the fund’s management 
company, said that investors 
have been intrigued by the idea 
of being involved in the Holly- 
wood movie business. 

“They found the idea of in- 
vesting funds in the production 
of 30 or 40 movies over the next 
five years very appealing,” he 
said. 

Nomura Securities has been 
named as co-lead manager on 
the offering and Nomura’s Zu- 
rich branch is acting as custodi- 
an bank. 

Acknowledging that the vehi- 
cle is an unusual way to raise 
funds for the movie business, 
Kathleen Stone Sorley, presi- 
dent of SQverVision, said that 
capital was being raised from 
worldwide sources to reflect the 
global nature of the business. 


TSB Offers New Rate 
On Deposit Accounts 

Investors looking for a favor- 
able offshore sterling-denomi- 
nated account have a new prod- 
uct to examine. TSB Bank 
Channel Islands Limited is of- 
fering an annual rate of 8.1 per- 
cent, free of withholding tax, 
for deposits of at least £15,000 
over a term of three years. The 
offer closes at the end of the 
month. A two-year term deposit 
paying 7.85 percent is also 
available. 

For more information, write 
TSB Bank Channel Islands 
Limited Offshore Center, P.O. 
Box 597, SL Helier, Jersey JE4 
8XW, Channel Islands; or call 
Jersey (44.534) 503.909, or fax 
(44. 534) 503.211. 

In next week’s Money Report : 
The global market in collect- 
ibles. 


- Business Opportunity - 

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Financial Products, Services 
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Call or Fax to reserve a seat at this exciting seminar: 

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Telephone: (203) 331-9616 - Fax: (203) 331-9610. 


“An executive committee of 
six members, three from man- 
agement and three nominated 
by shareholders, will approve 
each film in which the fund in- 
vests,” she said. “A decision to 
proceed with a particular pro- 
ject will have to be unanimous.” 

The fund will exist for the 
next five years, after which it 
mil be dosed out and capital 
returned to investors. The esti- 
mated annual return is 20 per- 
cent, says the fund. 

Investors wall also own shares 
in a “Rights Owning Corpora- 
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and distribution rights in perpe- 
tuity. This provision will offer 
investors the possibility of con- 
tinuing returns on their invest- 
ment as a result of successful 
films. 


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“In theory that should reduce 
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To Ctuv. Kiritnew. 

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SPORTS 


iVBi 



The NBA Rule Changes 


By Clifton Brown 

New York Tima Service 

NEW YORK — Even a 
league that has Reggie Miller to 
shoot jumpers, ShaqiriHe O’N- 
eal to deliver dunks and Kenny 
Anderson to make d azzlin g 
passes has worried about of- 
fense. On many nights in the 
National Basketball Associa- 
tion, particularly during the 
playoffs, end-to-end action has 
given way to players grappling 
in the low post lik e sumo wres- 
tlers or struggling to get away 
from defenders allowed to bold 
them. 

Scoring in the NBA has de- 
clined in nine of the last 10 
seasons, and physical contact 
has increased. For the league’s 
hierarchy, it has been a situa- 
tion getting out of hand, hurt- 
ing the game and its appeal. 

Now comes the intended 
remedy. When the new season 
began Friday night, there were 
significant rule changes, and 
new rule interpretations, that 
should make offensive-minded 
players salivate and give head-- 
aches to coaches trying to draw 
up defensive game plans. A 
league that deFtly sidestepped a 
labor stalemate will now look to 
loosen the flow of the game. 
And it will try to do so with 
steps that include the following: 


Robinson and Other Notables Will Be Absent Opening Night 


The Associated Pros. 

NEW YORK — Glenn Robinson is 
finally on board with the Bucks. 

But he wouldn’t be on the court Friday 
night when the National Basketball Asso- 
ciation season opened. Neither would a 
host of other notables, including Charles 
Barkley, Chris Mullin, Chris Webber, 
Dennis Rodman, Alonzo Mourning, Roy 
Tarpley and Brad Daugherty. 

Robinson, the top pick in the NBA 
draft, agreed to a 10-year, fully guaranteed 
deal worth approximately $68 million after 
relinq uishing his goal of becoming the first 
$100 million athlete in professional sports. 
The pact contains no incentive or 
clauses or performance goals. 


“out T 


It is the Ingest guaranteed deal ever 
signed by an NBA rookie. Jason Kidd, the 
second pick -in the draft, signed a nine- 
year, $54 millio n contract with Dallas with 
all but a portion of the final year guaran- 
teed. 

Barkley, already bothered by a pulled 
stomach muscle; got body lotion in his eyes 
at an Eric Clapton concert, burning his 
corneas and keeping him out of the Phoe- 
nix Suns’ opener. 

Mullin, a five-time all-star for Golden 
State who has missed large parts of the last 
two seasons with injuries, is sidelined this 
time with a fractured left kneecap. He is to 
miss six to eight weeks. 


Webber, last season’s rookie of the. 
year, hasn’t re-signed with Golden Stare 
after becoming a restricted free agent one 
year after signing a 15-year, 574.4-million 
deal. 

Rodman, who led the league in rebound- 
ing last year, has been suspended for three 
games by Star Antonio for refusing to play 
by team rules. And Mourning, Daugherty 
ami Tarpley are all hurt 

Another ailing player is Shawn Brad- 
ley. Philadelphia’s 7-foot. 6-inch (2.29- 
meter) center planned on playing at 
home Friday against the Bucks for the 
first time since spraining his left knee 
last month. 


New York Tones Service . 

1. The 3-point line, which was 23. feet, 9 inches , at m farther- 
point, has been moved to 22 feet. ‘ , ; • ; 1 • v 

- . . 2. Hand-checking is prohibited from the backcourt baseline to 

checking, because they werejal-- ^ opposite foul lme'to allow greater freedom of movement by 

offensive players. 

3. In the low post, players can no 

an extended arm in' mar back or by 
One-hand contact with a bent elbow is «.. . 

4. Players may not use their legs w root an offensive plapr-o^^ 

of low-post posinon.' ' .--i 

5. On defense, if the man being guarding is above the key (the j 
circle around the foul line and the lane), the defender am$i * 
double- team the hat! immediat ely if he leaves his man and mow* i 


Players have struggled most 
with the enforcement of hand- 
checking, because they were al- 
lowed to do it for so long. The 
preseason has produced more 
fools, more stoppages of play, 
more complaints and longer 
games — a trend that may cany 
into the regular season. Players, 
coaches, referees and fans are 
still adjusting. In the meantime, 
nobody wants to pay $50 for a 



courtside seat just to watch a ^ fou j ^ ja previous seasons, a defender could dron 

horpam nf frM (hn\OR . . . , v f . , n n i. • * 


• Hand-checking, a defen- 
sive tactic that referees have 
given players leeway to use for 
years, will be outlawed in the 
backcourt and above the foul 
line. 


lines regarding illegal defenses, 
with defenders in the lane no 
longer allowed 2.9 seconds be- 
fore they must double-team the 
balL 

• A defensive player in the 
low post will no longer be al- 


t guide- “j®. 


lowed to put two hands on an 
offensive player. 

• The 3-point line is now 22 
feet (6.70 meters) from the bas- 
ket, instead of 23 feet, 9 inches, 
at its farthest point. 

The league’s policy-makers 
— right up to Commissioner 
David Stem — are convinced 
that the changes will eventually 
lead to more wide-open action, 
and more scoring. The theory is 
that players will have an im- 
proved atmosphere in whidi to 
showcase their skills, instead of 


a game in whidi players And 
their every move restricted. 

“We focused on the overall 
pood of the game, not market- 
ing, not perception, not any in- 
dividual teams,” said Rod 
Thorn, the league’s vice presi- 
dent of operations, who had the 
off-season job of overseeing the 
rule changes. “About 98 per- 
cent of the people in the league 
felt we had to do something to 
dean up the contact in the 
game. The other 2 percent prob- 
ably felt that way, too, but they 


won’t say it now because it’s not 
in their best interests.” 

“Did we do some thing s to 
encourage more offense?” he 
added. “You’re doggone right 
we did, just like some of the- 
other sports have done. We 
were going to have 27 teams 
holding the ball eventually, 27 
teams grabbing and bolding. 
Then you’ve got 72-68 games, 
games where nobody could get 
free. That’s where we were 
headed.” 

Not everyone is pleased. 


barrage of free throws. 

But fewer fouls were called as 
the preseason progressed. And 
Thom insisted that this was not 
a short-term experiment. If 
players want to avoid foul trou- 
ble, he said, the solution is sim- 
ple: Follow the rules. 

“Do I think there’ll be some 
games where an inordinate 
number of fouls will be called?” 
Thom said. “Sure. But I'm not 
that concerned about the pre- 
season because there are always 
more fouls called during the 
preseason than in the regular 
season. And I know that players 
warn to play. Hand-checking 
has been in the rule book for 
years, h just hasn't been called, 
because we haven't been in- 
structing referees to call it. But 
we had gradually gone back to 
where we were 16 or 17 years 
agp, with guys riding people up 


below the foul line and take 2.9 seconds to decide whether to. # 
double team or move back above the foul tine. ... .. > - 

6. Illegal screens will be called more -closely on the offensive' ^ 

tiwm j as wifi three-second violations. ‘.v’;!, 

7. There will be stricter enforcement of technical fouls far c 

taunting- . j- . •' 

R Three shots will be awarded instead of two to a shooter fhijj frj >; 
in the act erf shooting a three-pointer. "• 

9. Any player who commits two flagrant fouls duripgA:ga ^ f - ■ 
will be automatically ejected. _ ’ -J . 

. 10. Any player who leaves the bench during an altercation j 

”*11. Technical fouls wfll cost $500. Previously, thefitie wasJHOti. l 
far a technical and S150 for a second technical in the sane game, ’■ 


Raider s-Chiefs : Do-or-Bye in Kansas City 


New York Tima Service 

LA. Raiders (4-4) at Kansas 
Gty (5-3): A lot of people 
picked Raiders to go to me Su- 
per Bowl this year. If they are, 
here’s where they must start: A 
victoiy over the Chiefs puts 
them back into AFC West divi- 
sion race; a loss makes the play- 
offs iffy. But in five games 
against Raiders, Joe Montana 
has thrown for six touchdowns, 
with one interception. Running 
back Harvey W illiams (6) and 
receiver Tim Brown (5) have 
accounted for 11 of Raiders' 17 
touchdowns. Oddsmakers favor 
the Chiefs by 4 points. 

Chicago (4-4) at Tampa Bay 
(2-6): Bears are in the midst of a 
quarterback controversy, al- 
though there shouldn’t be an 
argument. Steve Walsh guided 
them to three straight victories 
while Erik Kramer was out with 
a shoulder injury. The Bucs 
would like to have such a dilem- 
ma; they can’t get anything go- 
ing with Craig Erickson or 
Trent Differ. Bears by 3. 

Detroit (4-4) at Green Bay (4- 
4): Lions are No. 1 in league in 
rushing, at 147.1 ytuds a game. 
Packers' defense is No. 2 in 
league against the nm, allowing 
70.3 yards per game. Packers be 
able to stop Barry Sanders, but 
they can force quarterback 
Scott Mitchell to beat them and 
he can’t. Packers by 6. 

Imfianapofis (4-5) at Miami 
((6-2): Dan Marino has thrown 
18 touchdown passes, most in 
NFL. Colts' Marshall Faulk is 
league's leader in yards from 
scrimmage (1,182) and leads 
AFC in rushing (8 1 2 yards). But 


Dolphins' defense has gotten 
healthier the last two weeks. 
Dolphins by 9. 

New England (3-5) at Cleve- 
land (6-2): Patriots’ Drew Bled- 
soe had horrendous game 
against Dolphins last week and 
Browns' defense — it hasn't al- 
lowed a 100-yard rusher or 100- 
yard receiver this reason — isn’t 

NFL MATCHUPS 

the kind of unit that Bledsoe 
can easily bounce back against 
Browns' quarterback Vinny 
Testaverde is out with a head 
injury; Mark Rypien will start 
in his place. Browns by 3. 

New Orleans (3-5) at Minne- 
sota (6-2): Comerback Antho- 
ny Parker has scored 3 touch- 
downs on turnovers in last 3 
games, with Vikings pressuring 
quarterbacks from every con- 
ceivable spot on line of scrim- 
mage. Defensive tackles John 
Randle, who has 83 sacks, and 
Henry Thomas, who has 5, will 
make life miserable for Jim Ev- 
erett and Saints don't have the 
type of rushing attack that can 
keep the Vikings' defense at 
bay. Warren Moon has the Vi- 
kings’ offense working effec- 
tively and effidendy. Vikings 
by 9 Vt. 

Pittsburgh (5-3) at Houston 
(1-7): Steel ers are No. 2 in AFC 
in rushing, at 144 yards a game, 
while Byron (Bam) Morris has 
filled in nicely for Barry Foster, 
out two games with a knee inju- 
ry. Houston quarterback Cody 
Carlson is questionable with 
knee injury so Billy Joe Tolliver 


may start his second consecu- 
tive game. Steelers by 3. 

San Diego (7-1) at Atlanta (4- 
4): With receivers Terence Ma- 
this and Andre Rison, Falcons 
have high octane offense. De- 
fense has allowed one rushing 
touchdown in the last 16 quar- 
ters, but Chargers can wear it 
down with big bade Natrone 
Means. Their quarterback, Stan 
Humphries, is questionable 
with injured left elbow (non- 
throwing arm) and Gale Gilbert 
could get his first start since 
1986. Chargers’ plus-8 turnover 
ratio ties Dallas for best in 
league. Falcons by 1. 

San Francisco (6-2) at Wash- 
ington (2*7): 49ers are healthy 
again: In last three games, Steve 
Young has completed 81 per- 
cent of his passes for 6 touch- 
downs with no interceptions. Of 
Henry Ellard’s 45 receptions for 
Redskins, 43 have been for first 
downs; one of the best mat- 
chups will be EJlard against cor- 
nerback Deion Sanders. 49ers 
by 10. 

New York Jets (4-4) at Buffa- 
lo (5-3): Bills’ defense is allow- 
ing 99 yards rushing a game, 
third best in AFC. Jets shut 
down Bills in season opener, 
holding Thurman Thomas to 5 
yards on seven carries. But Bills 
are on the upswing, the Jets the 
downswing. Bills by 3. 

Arizona (3-5) at Philadelphia 
(6-2): Call it a dysfunctional 
family reunion, with Eagles' 
former coach Buddy Ryan re- 
visiting Philadelphia for first 
time as Cardinals' coach with 


six former 1 
team. But 


; on his 
Cu 


ham has 20 touchdowns in 14 
games against Cardinals, while 
their Steve Beuerlein has 
thrown 3 touchdowns with 8 
interceptions this season. Ea- 
gles by 7. 

CSnrimiati (OS) at Seattle (3- 
5): Bengals’ Damay Scott has 
developed into real deep threat; 
Ms 21.9 yards per catch leads all 
receivers with 20 or mean recep- 
tions. Seahawks' 5 interceptions 
thrown are fewest in AFC. Sea- 
hawks by 7. 

Denver (3-5) at Los Angeles 
Rams (3-5): Rams have Jerome 
Bettis, but Leonard Russell’s 8 
rushing touchdowns ties him 
for second in AFC with Mar- 
shall Faulk. Rams’ quarterback 
Chris Chandler has thrown 10 
interceptions; at one point dur- 
ing last week’s victoiy over 
Browns, Broncos' John Elway 
completed 20 of 22 passes for 
218 yards, and engineered scar- ■ 
mg drives of 80 and 81 yards. 
Broncos by 2 %. 

New York Giants (3-5) at 
Dallas (7-1): Giants have forced 
turnover on an opponent’s 
opening drive in 4 out of 8 
games (3 interceptions. 1 fum- 
ble), but Cowboys have scored 
on opening possession in 6 of 8 
games (5 touchdowns, 1 field 
goal). And, Dave Brown' has 
thrown 1 1 interceptions in Gi- 
ants’ 5-game losing streak. 
Cowboys, coming off a scare 
against Cincinnati last week, 
are not likely to take Gi- 
ants for granted on Monday 
night Cowboys by 1314. 

These rmadtups were COm- 



EJ Remix The Associated Prc» 

VE DAY? — Barathea, the Irish horse which has 
drawn the No. 1 post position in fee Mile, being given a 
workout by jockey Frankie Dettori at Churchill Downs 
in LomsviQe, Kentucky. Barathea is one of a record 27 
European entries in Saturday’s Breeders’ Cup races. 


the floor. So they’ll adjust If 
they see that what they’re doing 
is going to send them to the 
bench in foul trouble, they’ll, 
stop doing it” 

League executives strongly 
denied any implication that the 
changes were mandated with 
any particular teams or individ- 
uals in mind. Thom contends 
these proposals bad been dis- 
cussed for several years, before 
they were finally brought be- 
fore the NBA Board of Gover- 
nors, who enacted the rule 
changes earlier this month. 

But several events last season 
might have persuaded some 
people to take action. The 1994 
championship series between 
the New York Knicks and the 
Houston Rockets drew the low- 
est television ratings for the 
NBA finals since 1990. Neither 
team reached 100 points in the 
seven-game series, and many 
fans and journalists described 
the series as dull and poorly 
played offensively. 

Earlier, the playoffs were 
maned by two senous bench- 
clearing Drawls, one involving 
the Knicks and Chicago Bulls, 
the other the Atlanta Hawks 
and the Miami Heal. 

The mayhem led to other 
rules changes — including stiff- 
er fines for fighting and leaving 
the batch during altercations 
and a crackdown on taunting. 
Those are changes that almost 
everyone endorses. 'But argu- 
ments can be made against the 
rule revisions dealing with de- 
fense. 

The Knicks, generally re- 
garded as the league’s most 
physical team, look at some of 
the revised hand-checking in- 
terpretations and rule changes 
as evidence that their style is 
not appreciated, or welcomed. 

“I don’t think there’s any 
doubt that the New York 
Knicks have, in a way, been 
singled out because of our de- 
fense and the style erf defense 
that we play,” said their coach, 
Pat Riley. “We have to deal 
with iL We have to adapt to it” 

M. L. Carr, general manager 
of the Boston Celtics, said: 


“Obviously, we’re all going^a 
through the adjustments, and " 
it’s frustrating. You’re asking 
some guys who haver made 
career, out of bumping, umg . * ' 
their hands, and playing a phys- {j- 
ieal style, to change their game; ■ 

I guess for soft players whore*, r 
er, played much defense,’ it 
doesn’t matter. For other- guys, "i 
it’s tough. But eventually |’Jr 
think ids going to be good for .r 
the game, and this is coming .', 
from a guy who had a physical >. 
game." . . ' 

*To be honest," he. arkied/T.:. 

don’t think the game had gotten 
any more physical than it was in ■- 
the TOs, when we had guys like ' 
Dave Co wens and WesUnsekl 
out there. I remember when l ' 
played in Detroit — one time ”• 
we had four figh^ in six nights. - 
And they were legit fights. But - 
now the NBA’s coming- into , 
your home every night, and any - 
time there's a fight, you see' jt;J 
over and over again. So we have 
to deal with that." ; 

“As far as this hurting one * 
team more thauanother, I don’t 
see that,” Carr concluded. “The - 
Knicks? Pat Riley is a brilliant 
coach, and he’ll make whatever 
adjustments are necessary.” 

Asked if he believed there . 
was too much contact being al-,. 
lowed in the game, Don Nelson^- 
coach and general manager of . 
the Golden State Warriors, 
said: “I don’t think there was 
anyone . who didn’t 'fed that . 
way, at least on the committees 
that 1 was part of. I think once ‘ : 
people understand how it's go- ■ . 
mg to be, you'll see the number 
of fouls go back closer to the * 
way they were. And the great 
defensive teams will continue to . 
be that way, because they have 
players who can move their feet 
ana play position. Why should 
they be allowed to hold?" 


if 

> i 


Vi ' . * 


“t* 


? A- - 

fv 


.v .. 


*C ■ -r . 






To our readers in France 

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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, NOVEMBER 5-6, 1994 


Plage 19 



■*•4 


'-hr 


Cgm^ibdbjiOir Staff From Dispatches 

-GBiEVA The UEFA 
O^fsoocer tournament was 
guaranteed a thrilling third 
round "Friday when Lhe Ger- 
msn leagne leader Borussia 
Dartimmd drew Deportivo La 
Coruna and Atlfetico Bilbao 
- l , i was matched against mighty 

= . Parma. 

Dortnnmd, trounced by Jn- 
veaths-in fhe final two seasons 
agcvhas the undeniable advan- 
tage of playing the second-leg 
match against La Coruna at the 
Wcflfaleastadiop. 

Bat fhe Spaniards, regularly 
jn the. hunt for the domestic 
(hanqnonshq), and now tied in 
points with first-place Real Za- 
ragoza, can count on the formi- 
dabfc attacking skills of Brazil- 
ian goalscorer Bebeto. _• 
Atlhttco Bilbao, which ousted 
the English Premier League 


’ ' _ - «r 

-■f> 


played on Nov. 22, and the sec- 
ond legs on Dec. 6. 

• Britain’s Serious Fraud Of- 
fice said Friday it would not 
investigate the financial affairs 
erf a company used by En- 
gland’s coach, Terry Venables, 
to take over Tott enham Hot- 
spur in 1991. 

The SFO had said Saturday it 
was examining Venables’s af- 
fairs, following a Department 
of Trade and Industry enquiry 
into Eden.no tC, a company tha t 
has since collapsed. 

Bat in a 'statement Friday, 
the SFO said that it had “decid- 
ed that the imir is not such as to 
make it appropriate for the 
matters identified to be in ves ti- 
lted by the Serious Fraud Of- 
ce.” 

• French officials said Fri- 


Agassi Tops 
Sampras, 
Becker Out 


The Associated Proa 

PARIS — Andre Agassi beat 
Pete Sampras, 7-6 (8-6), 7-5, on 
Friday to lead a string of upsets 
in the quarterfinals of the $225 
million Paris Open. 

Boris Becker, a three-time 
champion here, and Goran 
Ivanisevic, the defender, also 
lost Marc Rosset of Switzer- 
land beat Becker in a hard-serv- 
ing contest, 7-6 (7-3), 7-6 (9-7), 
and Michael Chang upset 
Ivanisevic, 3-6, 6-4, 7-6 (7-4). 

Rosset and Chang will meet 
in one semifinal on Saturday. 
Sergi Braguera will take on 
' in the other. 

the world’s top- 
player, had 19 aces and 
was a break up in both sets but 
could not handle some blister- 




■j. 


r- 



rule, was rewarded 
j*s. draw with another 
i leader in Parma. 

"AH four Italian dubs are stni 
in the competition. It is quite 
possible that all will reach the 
quarterfinals, albeit with vary- 
ing degrees of difficulty. 

. Lazio drew Trabzonspor, the 
Turkish team that surprised En- 
gland's Aston Villa, mid inven- 
tus got Austria’s Admira 
Waxier. Napoli drew Emtracht 
Frankfurt 

. FC Sion, having ousted 
Ofympique Marseille, will re- 
turn to France to face league 
leader Nantes. 

Real Madrid will be more 
than satisfied . with its draw, 
against the part-time team 
Odense BK of Denmark, with 
the return match to be plaed in 
the Spanish capitaL 
The first leg matches will be 


leader Newcastle United onlbe day t h w would resist pressure mg service returns by 

' UEFAjo cut their league The fourth-seeded Brngoera, 


a two-time French Open cham- 
pion from Spain, joined Chang 
in the semifinals by beating Petr 


from 20 to 18 teams wi thin the 
next three years. 

France now has four spots in 
the UEFA Cup. Three qualify 
on league position and one wm 
as winner of a new League 
Cop. 

But UEFA, eager to cut fix- 
ture congestion for its leading 
dribs, has said that countries 
with leagues larger than 18 
teams will have their UEFA 
Cup allocations cut starting 
with the 1997-98 season. 

Those countries are France, 
England and Spain. 

France and England will no 
longer be able to indnde their 
League Cup winners in three 
: and would lose that place. 

which has no League 
would have its quota cut 
by ana (AFP, Reuters) 



Korda, 6-3, 7-6 (7-4). 

The Becker- Rosset match 
had both men with serves at 
more than 125 miles an hour. 

A double fault in the first 
tiebreaker by the the sixth-seed- 
ed Becker gave Rosset the ad- 
vantage at 3-2, which he in- 
creased to 5-2 and went on to 
win. 

The second set tiebreaker 
went back-and-forth. At one 
time, Rosset scored three 
straight aces on his serve. 
Becker had two set points, at 6- 
5 and 7-6, but did not convert 
either. 

“It came down to me having 
two set points and one on my 
serve, and I missed an ace just 
try half an inch,” Becker said. 



Ambitious Slate 
Of Negotiations 
Set for Baseball 


By Murray Chass 

New York Tima Service 

NEW YORK —Negotiators 
for major league baseball’s 
striking players and owners 
have agreed to the most ambi- 
tions schedule of bargaining 
sessions since they began walk- 
ing toward resolving their labor 
differences. 

In a joint scheduling session 
is Washington with the media- 
tor Bill ifsery Jr„ representa- 
tives of the two sides agreed 
Thursday to meet in the Capital 
next Thursday and Friday, then 
Saturday and Sunday, too, if 
the first two sessions produce 
reason for immediate further 
meetings — or if they don’t cre- 
ate reason to avoid meeting. 

“We’re trying to get people to 
talk reasonably, talk about the 
problems baseball has,” Usery 
said. 

He win hold discussions sep- 
arately with each side next week 
prior to the joint sessions to 
establish an agenda for the 
meetings. 

“Bill Usery has, I think, per- 
suaded all the parties to take a 
fresh look ana keep an open 
min d," s«»d the owners’ chief 
negotiator, Richard Ravitch. “I 
think both parties are entering 
this new negotiating medium in 
that spirit." 

The only time since contract 
talks began last March that ne- 


— the owners’ demand for a . 
salary cap — a topic of discus- *' 
sian. 

Usery began the day Thurs- ” ■ 
day meeting with the owners’ 
negotiating team. He had met • 
for two days last week with " 
mi ion o ffi cials , then saw (hem 
again Tuesday. After Usery’s 1 
session with the management 
group, Donald Fehr, Gene Orza 
and Lauren Rich of the union 
joined them to discuss the re- > 
sumption of joint talks. 

Meeting with him Thursday ~ 
were Ravitch; two lawyers, 
Chuck O’Connor and Rob 
Manfr ed, and five chib owners ' 
and executives — Jerry 
McMonis of Colorado, John 
Harrington of Boston, Stan - 
Kasten of Atlanta, Dave Mont- / 
gomery of Philadelphia and 
Wendy Sehg-Prieb of M3wau- ■ 
kee. 

Selig said the same group; 

§ lus Stu Meyer, formerly of the " 
L Louis Cardinals, wiH repre- 
sent the chibs in the joint ses- ’ 
sions next week. 

At one of the sessions, the 
owners are expected to present 
a new proposal, which would be . 
the first smee they formally put • 
their salary-cap plan an the ta- 1 
ble June 14. 

Barring a change in what ne- 
gotiators have told the dubs, 
the owners will withdraw the $ 1 
biffian guarantee as part of - 


lady NMSEka/IUMMB 

Goran Ivanisevic, booted out of the Paris Open by Midiael Chang, tiien gave a baH a boot 


StimoTWe Zt oTfour their plan to rive the playm 50 . 
successive days was in the first percent of their revenue tot sal- •• 
week of August, but at none of 


those sessions was the core issue 


SCOREBOARD 


iSOCCER 


Cup Wbmcre’ Cup 


THURSDAY’S RESULTS 

% re rvrfB § 

Scorori: Gabor Zovodczky COBH. Emn 

Mam ism. - ' "••••: 

Porto irias 44 an assreaata. 

Austria Vienna, 1 CMmo ! 


*«rortrJ 
laws (73rd 


t (73rd) ;Cb«tsH>— John SmucwMMi). 
Ascnsaafta H Chaina trim an away goats 
rato. 

Awarra z tsdtma • • 

Scorar: Scfcrt Ldnaoc U t*3Mu 4Hmt> 
AiMrrv. Mn as Mjawwafe ■ 

lam: arasthappers — Annatt WUm. 
(UaVTiMawBlekri (StotiTNkral.iColtor 
<s»l: Samdorte— Mtnandrel MR Urth), 
AMflto Lombardo (4QH>). 


SanwdortawtoMonawmatfc 
fnmiMiMi,CMblrMnt 
Brum win 14 an aoamata. 

Rial ZntwBMa % TMrra Pmov 1 
Scorara: Mol zaraaam— Juan EdkxvdD 
. Emitter C5HO, tear Catodn {SHW; Tatran 
Pram —Veto Kocis (MM. 

Roof Zdraaeaa win 6-1 on oaa r egato. 

; Werner wnwi $, rai —aotd RoMantom 4 
Scorwx: Warder Bremen— Vlodlmlr Bes- 

cliailnytti (UHbMHd.lAorto Basier (WMs 
Fayoaooid— Hon(yfcLanooa(ZlsL34iti.44ili 
pan). Road Hem (SHb pan}. 

Fevaward wto 5-3 an aunautte. 

a, mini t nnwito i 
Soomra: Anenol— km WirW asm pan), 
ion Sadov (4«W; Brondnr — Bo Hansen 
(Bid). Dap Boson WWW. 

Arum* wta 43 on aaomate. - -■ 

SOUTH MWRICAN SUMRCUP 
PtotorRnt Us 
Bke MPT V iMtapBMflCRlV 1 
Scandsr Boa* Junlars — Sorsto Mortom 


(25ih); littepandtonta — Sebastian Rambert 
(71*0. 


' o : ■ 




UEFA Cup Draw 


THIRD ROUND 

Boyar Leverkusen wo. GKS Kalfovrice 
Deportivo da Lfl Corona vs. Borussia 
Bntradd Frankfurt vs. Napoli 
Trabzonspor vs. Lazio Roma 
Juvedm Turin vs. Admins Woctar 
Naatas vs. Skm 
Odease vs. Real Madrid 
Alfttetfc Out* BHboo vs. AC Parma 
First !■« Mov. 22-2X meant lav Dec. «. 


THIRD TEST 

Australia n. P uMstcn . foarto day 
Friday. In Lahoru 
Australia 1st limtoss: 4SS (all out) 
Pakistan aid ladings: »3 7S 
(1st lantnas loftri: 373) 


Sanchez Rates 
Williams’ Debut 
As Very Good 

New York Tuna Service 


SIDELINES 


OAKLAND, California — 
Arantxa Sanchez Vlcario ended 
Venus Williams' pro debut. 2-6, 
— 7»«T5. 6-3, 6-0, but was impressed by 
14-year-dd’s ability. 

“I want to make a statement: 




THURSDAYS COLLEOE SCORE 
Boetoa CoUese 35. lootsytue 14 


PARIS OPEN 
Ooarlarltoato 

MfoiaeianngtTL U.S.det.Goron Ivanrse- 
vfc 121, Cirndto. M. M. 74 (7-4). 

Sera) Brtsuera M). Spain, dcf. Petr Konto, 
Caeca Rt mefc. U. W (7-4L 
More Roxsat (14). Swdartond. del. Boris 
BotMr (41. Germany. 7-4 (7-3). 74 (9-7). 


Schumacher Fastest in Japanese Prix 

SUZUKA, Japan (AP) — Michael Schumacher, looking to 
wrap up the Formula One driving title, put his Benetton-Ford 
on the provisional pole with a 134.802 mph (217.165 kph) lap in . 
Friday's opening qualifying session for the Japanese Grand 
Prix. 

Damon Hill, the Williams-Renauit driver who is five points 
behind Schumacher in the standings, was second on at 1 34.130 
mph, followed bv the Sauber-Mercedes of Heinz- Harald Frent- 
zen at 134.067 and the Williams-Renauit of Nigel Mansell ai 
134.031. 


BOXING THE COMPAS by A. J. Sanlora 




ACROSS 
1 Wetland . 

6 Shawl 
11 Closedown 
15 Losek : •?= 
20 Soap plants , 

22 Snweoff - 

23 Sported .. . , 

24 -rniy ; 

douhCs" 

25 Leave the Junk - 

26 Jadde Gleason . 
biography 

28 Kids around - 

29 OUdtsdUer's 
vessel . 

31 Moviemaker 

32 ruhlflfliinnrl 

34 

"ia?; 

35 Russia] space 
station 

38 Warhol genre 
38 FiU sdupd' 

40 Thmk over again 
42TakesakKSon. 


54 No-goodniks 
. 56 Way and others 
58 Injustice 

60 Cosmetician 
' Arpel 

61 V.LP-in 


83 


Gtyw 
Vafley 

94 Enriuent 


near Sun 


c^M Cash in . ' 

. ’46— rde 

48 PwfcfBT.il. • 

49 Hydromawagr 
ttoaOly 7-' 

56 Pks ■ 
51 Fram-^ Z 1 


nng 

63 Lafy of Livorno 

' 65 Cambodia's 
Angkor — ; 

68 Hardly flexible 

67 Dog in 
astronomy 

68 Lamb’s name 

76 TVopicana and 
- - Minute Maid, 

e,g. 

78 Defeats 

74 TVy to open, in a 
way 

75 Pr^gish 

77 Pro 

79 Rail up 

80 Look-alike 

82 Fast 
88 Goat-man 
. 94 - Mot grades to 
brag about 
88 Conjecture 

88 Bandleader 
... Aloino 

89 Reeenrty 

SaKindof 
■ “fihgKpnnt" 



98 Actor Everett 
and others - 

97 ASCAP rival 

99 Passage ' 
between 
bujlflings 

181 Now 

102 Economize 

105 "Laviranuava” 
writer 

106 Oily disinfectant 

107 Prow 

109 Brazilian port 

110 Consolidates 

111 Pouch 

213 Lustrous black 

114 Latticework 
strip 

118 A wood stain 

118 Enero-to- 
diciembre 
. periods 

120 KindofmobOiiy 

122 Shoreline ' 

indentation 

125 Snitched 

127 Caxerina’s three 

128 Olympics 
participant: 
Abbr. 

129 Gastbaus cubes 

131 Alternative to 
pfs 

138 Filled (with) 

136 Nod .50'S 

Lois Lane 

138 Best Actor of 
1957 

14) How the villain 

kicked? 

142 AH in-music 

143 Have a bbntz, 
maybe 

144 Artist's 
preparation 

145 Obtain free 

146 "Give it T 

147 Responsibility 

148 Attempt 

149 Goose ganos 
DOWN 

1 X" (1920’s 

play) 

2 Bloomer and 
others 

3 First US. poet 
iaureare 

4 Bridge feat 

5 Spearmint, eg 

6 — — jongg 

7 Salad fruit 

8 A.P.. Reuters. 
etc 

• 9' - a quarante 

(card game) 

16 Krcoftriuston’ 

11 Perfect 
basketball 



more the way; she hit the ball 
instead of thinking about my 
shots. She did very wdL She’s a 
big gjri, and she can serve and 
volley or stay back. Sometimes 
she hit the ball so well there was 
nothing you could do.” 

According to Richard Wil- 
liams, the loss effectively ended 
his daughter’s professional 
commitments for this year. He 
estimated that Venus will tackle 
only five events in 1995: for 
now, tennis is a part-time job. 


aries and other costs. 

The change is necessary be- 
cause of the drastic change the 
strike has created in the owners’ - 
economy. Instead of an antid- . 
pared S1.78 billion in revenue in - 
1994, the dubs will end up dose ' 
to S1.2 billion. 

The owners have not re-” 
moved the salary cap from the 
table because that is the plan / 
they intend to implement if 
they declare an impasse and 
unilaterally change the terms ' 
and conditions that were part of • 
the expired collective bargain- " 
ing agreement. 

• Negotiators for the Nation- 
al Hockey League and its 
locked-out players will meet 
again next week at an undis- 
dosed time and place, Brian 
Burke, the league's director of 
hockey operations, said Thurs- 
day. 

Next week’s meeting between 
Commissioner Gary Bcttman " 
and the head of the NHL Flay- 
ers Association, Bob Goo- 
denow, would follow a secret 
session in Washington last - 
Monday, which was only their " 
AC MBan, despite having the two points deducted from its 3-0 second meeting in three weeks. 
Champions Cup victory over Casino Salzburg, will still collect the They reported no progress, but 
$708,000 points bonus, UEFA dedded Friday. (AP) agreed to meet again. 


I think I4-year-olds should not 
play professional tennis,” Son- 
in the first set I^was watching Gooden Suspended for *95 Season 

.v '*■* ’ l '~ l -- n NEW YORK (AP) — Pitcher Dwight Gooden, suspended since 

June 28 for violating his drug aftercare program, was suspended 
Friday for the entire 1995 season. 

Gooden, 29, who was with the New York Mets for his entire 1 1- 
year career before becoming a free agent on Ocl 24, failed two 


drug tests while on suspension. 

He spent a month in a cocaine rehabilitation center in 1987. 
This year, he was in the Betty Ford Center from July 22 to Aug. 14. 

For ibe Record 


© Noe York Times £<£ted by fPUl Shortz. 


12 Body relax er 

13 Sch. sooth of 
Providence 

14 "Enienainment 
Tonight* co-host 

15 W.W. II enHstee 

16 Glower’s ay 

17 Sounds 
reasonable 

18 DisEke 

19 Stops 
21 Jump 

27 Do a handicraft 

30 Fedimental 
ornament over a 
door or window 

33 Namath milieu 

37 Role in "The 
Robe" 

39 Wmgdings 

41 One who keeps 
work in balance? 

43 Alternatives to 
Viceroys 

45 Edge 

47 Mauna- — 

50 Turku people 

52 Itcanbe 
inflamed 

53 Plastic — 

Band 

55 Gun lobby 

57 GJVs expertise 

58 Carry the day 

59 Jealous 


61 Gossiped 

62 Showered with 
love 

63 Turn down, with 
-to“ 

64 Calm 

67 Popular puzzle 
69 advised 

71 Garden party 
decorations 

72 — — Island feny 

74 Joint meetings 
76 Comedian Irwin 
78 ■ of robins in 

her haii' 

80 Prompt 

81 Verdi opera 

85 Hepburn tide 
role. 1954 

86 Prince Banner's 
family name 

87 Defer (to) 

89 Dairy section 

purchases 

M Dandies 
91 Arthur Godfrey 


103 EmmenKeDy 
makeup 

104 School org. 

106 Napoli 

noblewoman 


123 Mineral warer 

124 Source of fatial 
embarrassment? 

126 Country singer 
Reeves etaL 

130 Smooth 
132 Tremendous 
134 Rar 


107 Hindu 
philosophy 

108 Uster’s abbr. 

HO Unadamment 
112 Procession 
115 Candid 
117 Shaw and often 137 Mil. officers 
119 Farm machine 139 Bas e ba ll 's 


135 White House 
VIP. Panefla 


121 Ended the 
blackout 


PinieDa 
140 Kind of bean 


85 — — fewondo 

(martial art) 
96 Protect 
98 Central 

100 Hearing a* 

101 Rainbow fish 

102 Hitchcock 
classic 


Solution to Puzzle of OeL 29-30 


□Liau □□□ UUO UL1LJ EUCU 
□□am uauauuu duudgheiu 
□□lioaauaauua uumitmce 

□Laaaan naQuamDEucmic 
□ UL3 mSULlLl L3L1UU 
uaoua QDJGfSG CPEOG 

aaaa hqubl] □uddd eeee 
jjaau auau duebuu Liinau 
□uaunsna anifl ouliqugul] 

QQQa aODQEULl DGDEE 

uasiaa hquuoud dqodd 
□Uq£J®30Q ubq ogogboee 

□aaa DQQ0Q13 GEOD EJEDE 

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aaoaanflnQQBDD odebde 
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Plus over 300 headings fp International Oassffied 
Monday through Saturday 

Far further Information, contact Philip Oma in Paris: 
Tel: (33-1) 46 37 94 74 - Fax: (33-1) 46375212 



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DorVt rrfes the upcorrang 

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Page 20 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY. NOVEMBER 5-6, 1994 


V 


DAVE BARRY 


Of Pride and Poetry 


Robert Wilson Time: The Silence and the Words 


International Herald Tribune 


M IAMI — Recently I got a 
very nice computer-geu- 


-LVAvery nice computer-gen- 
erated letter from an outfit 
called the National Library of 
Poetry. 

“Dear Dave," the letter be- 
gins. “Over the past year or so 
we have been, reviewing the 
thousands of poems submitted 
to us, as well as examining the 
poetic accomplishments of peo- 
ple whose poetry has been fea- 
tured in various anthologies re- 
leased by other poetry 
publishers. After an exhaustive 
examination of this poetic art- 
istry, the National Library of 
Poetry has decided to publish a 
collection of new poems written 
by THE BEST POETS we have 
encountered. 

“1 am pleased to tell you, 
Dave, that you have been select- 
ed to appear in this special edi- 
tion: Best Poems of 1995. 

. . . The poem which you will 
submit for this edition has been 
accepted for publication sight 
unseen on the basis of vour pre- 
vious poetic accomplishments." 
□ 

Oh, I know what some of you 
are thinking. You’re thinking , 
“Dave, you wienerhead, they 
don't really think you're a lead- 
ing poet. They got your name 
from some mailing list, and 
they’ll publish any drivel you 
send in, because what they 
REALLY want to do is throw a 
book together and sell it to pa- 
thetic loser wannabe “poets’ for 
some absurdly inflated price 
like $50.” 

Well that just shows how 
much YOU know. Because it 
turns out that Best Poems of 
1995 is now available at a spe- 
cial pre-publication discount 
price of just $49.95. But listen 
to what you get: You 1 get “a 
superb collection of over 3,000 
poems on every topic," as well 
as “an heirloom quality publi- 
cation” with “imported French 
marbleized covers.” 

! called the number listed on 
the National Library of Poetry 
letterbead; a pleasant-sounding 


woman answered, and I asked 
her which specific poetic ac- 
complishments of mine the 
judges had reviewed before se- 
lecting me as one of the Best 
Poets. 

“Um,” she said, “we don’t 
have that available right now. 
All that information is closed in 
a backup file system.” 

I asked the woman at the Na- 
tional Library of Poetry if there 


P ARIS — Over the pasta and red 
wine Robert Wilson asked, “Did I 


were any special literary criteria 
involved; she said the only one 
was that the poem had to be, 
quote, “20 lines or less.” 

I believe that if some of your 
former big-name poets such as 
Homer and Milton (neither of 
whom, to my knowledge, was 
invited to be in Best Poems of 
1995 ) had observed theNation- 
al Library of Poetry’s 20-line 
limit, their careers would be in a 
lot better shape today. 

Anyway, I wrote a poem for 
Best Poems of 1995. I call it, 
simply, “Love." Here it is: 

O love is a feeling that 
makes a person strive 
To crank out one of the Best 
Poems of 1995; 

Love is what made Lassie 
the farm dog run back to the 
farmhouse to alert little 
Timmy's farm family when- 
ever little Timmy fell into a 
dangerous farm' pit; 

Love is a feeling that will 
not go em-qy, like a fungus in 
your armpit; 

So the bottom line is that 
there will always be lovers 
Wishing to express their 
love in an heirloom quality 
book with imported French 
marbleized covers; 

Which, at S49.95 a pop mul- 
tiplied by 3,000 poets 
Works out to gross literary 
revenues of roughly 
SJ 50,000, so it's 
A good bet that whoever 
thought up the idea of pub- 
lishing this book 
Doesn't care whether this 
last line rhymes. 

Knight -Ridder Newspapers 


JT wine Robert Wilson asked, “Did I 
do too much tonight?" “How was the 
music?” “What do people say about 
my work here?” and he demonstrated 
what he admires in Marlene Dietrich, 
Myung-Whun Chung and a Balinese 
dancer who at the age of 1 3 knows 375 
ways of moving her eyes. 

But this was mostly a mix of post- 
performance angst and adrenaline 
high. He is at the same time so clear 
about his work, and how it Is per- 
ceived. that he refers to his often 


MARY BLUME 


languorous pace as “Robert Wilson 
time" and says of his current produc- 
tion, ‘You have all the classic Wilson 
in this piece. You have the child, the 
gun, these things keep coming back. 
You always have the child." 

The piece, which was playing at 
the MC 93 theater in Bobigny before 
a European tour, is based on a Dos- 
toyevsky short story about a young 
wife's suicide told by three actors of 
three ages and nationalities: 11 -year- 
old Charles Chemin, who is French, 
Thomas Lehmann, a 24-year-old 
German, and Wilson, from Waco, 
Texas, who is 53. 

It is called “The Meek Giri/Une 
Femme Douce/ Die Sanfie” and is 
played in a collage of the three lan- 
guages. Visually, it is. in the Wilson 
style, elegantly cool and orientalizing 
in gesture. The text, unusually, is high- 
ly emotional with reverberations that 
Wilson hopes will continue after the 
curtain falls: “The end must never be 
an end, you must open it We let the 
air out of the balloon very gently.” 

Wilson describes his early theater as 
constructions in silence, followed by a 
period of what he calls nonsense texts. 
He still begins a production with what 
he calls die visual book but words are 
now less an intrusion than a part of 
the silence and the movement which, 
with light, are his basic material. 
“How we can see a text and how we 
hear it, how we bear a movement and 
see a movement. Yes, I think I am 
more interested in text now.” 

His next productioa to open in 
Houston's Alley theater in May, is a 
one-man “Hamlet” with Wilson 


playing all the roles. It has been three 
years in the planning — a fairly nor- 
mal gestation period for Wilson — 
and runs 2 hours and 10 minutes: 15 
scenes told in flashback starting sec- 
onds before Hamlet's death. 

Wilson distrusts what he calls in- 
teUectualizing and is incap able of 
discussing a work in progress, so he 
dismisses “Hamlet” as “a hangup 
men have, always men want to do 
‘Hamlet.’ ” Possibly he wishes to re- 
place the abstract explanations be 
gives as a director for action; possi- 
bly like his idol Martha Graham he 
wishes to develop through practice a 
whole new vocabulary ofmoveraent 
His concern with movement is such 
that he videotapes each stage of his 
works (“I think I should have more 


space under my arm,” “the eyes cam 
be more in bade of the head”) and 
has tried in his opera productions to 
sculpt the conductor’s movements as 
well the singers'. Conductors do not 
always cooperate; 

Appearing onstage is agony. He 
speaks to no one for two hours before 
going on and, fearful of forgetting, 
does the entire show onstage before 
the curtain goes up. To him, meaning 
is multiple and each performance is a 
question. 

“People see my work as too for- 
mal. too mechanical, they think we're 
robots. But I feel so many different 
things each night, like the death of 
my mother.” 






Later in the night, Wilson returns 
> his mother’s daath “I think it was 


the only time I felt her closeness, 
holding her hand. She never touched 
me, the first time I remember my 
mother touching me was when 1 went 


V- 


away to university and she kissed me 
on the cheek. She was a very formal 



v-- 

. . . 


'i I 
.** r 


r.:* 


as important as wbat we hear." 1 
Trained in painting and architecture, 
he sees sections of a work as columns 
to build toward and the secret is 
timing. “People say Wilson’s work is 
slow-motioo but it has to be full of 
time. And if it's full of time there is 
no concept of time, it can be fast or 
slow." 

He doesn’t expect the audience’s 
constant attention, preferring to 
think of thdr going in and out of a 
piece as they might a novel: in “Ein- 
stein on the Beach” audiences .were 
encouraged to stroll out for a break ' 
at will. “Let them get lost, it's 0. K. 
to get lost, let them go. You don't 
demand that people look at.it every 
second, like television.” 

If his work is cool, Wilson is a 
deeply emotional and engagingly 
voluble man obsessive in enthusi- 
asms which range from Madeleine 
Renaud to Lou Reed, with whom he 
plans to work. His schedule is 
planned years ahead; pieces get re- 
worked, salvaged, shelved. These 
days he has worldwide prestige., im- . ' 
portant patrons such as Pierre Beigg - 
and the Menil family in Houston 
and, at last, a center be uses as a 
workshop. Watermill in Long Island' 
which used to be a Western Union 
laboratory. “H looks like Spandau 
prison. I liked it at once." . 

But he works mostly abroad, espe- . 
dally in Germany and France. “How' 
can I ever work in the United States? -j 
Why don’t they do my ‘Butterfly’ at * 
the Met?” he asks. Years ago he was 
dismissed in New York as “a Parisian 
caprice” and, despite successful, ap- 


on the cheek. She was a very formal 
cool lady. I guess my theater came 
from that." 


pearances at the Brooklyn Academy 
of Music, the label seems to stick. He 


Robert Wilson (center) in “Une Femme Donee.” 


Mars Engwraid 


His father was Waco’s city manag- 
er and once he brought home 12 
unexpected guests, one of whom 
brought his mother flowers. “I guess 
I was about 12 or something and she 
took this bouquet of flowers and just 
cut the stems very close to the flowers 
and took them and put them in the 
vase.” He replicates her precise ges- 
tures. “It was so beautiful to see this 
arrangement of flowers in space and 


her decision to do this, put this there, 
go on to something else.” 

Does this replace affection? 
“Probably not.” Even today, he likes 
to be kissed or touched on the nape 
of his neck, like a 

His work is thought cold because it 
is so formal and it is so formal be- 
cause he believes emotion is desensi- 
tized when overtly expressed. “That’s 


why I love the Japanese theater, the 
Noh. It’s very formal the deep emo- 
tion is inside. I hate naturalism. Peo- 
ple trying to act natural onstage al- 
ways seemed so artificial Why not 
just be artificial? Then ifs much 
more natural.” 

Often called a theatrical visionary, 
Wilson is really a superb and respon- 
sive eye: “I tried to make what we see 


of Music, the label seems to stick. He 
says he proposed his services to 23 
regional theaters in the United States 
without a response. “And yet I’m an 
American. The work is rally from 
someone from the States. I know 
there's an audience there. When I do 
something they come.” 

It was the late Michel Guy, who 
founded the Festival d’Automne in 
Paris, who gave Wilson his first break 
in 1971. Guy. Wilson says, gave him 
support when no one else did and also 
gave him an excellent bit of advice. 

“He said to me, Bob when you die 
be buried in France. The French will 
do it great." 


WEATHER 


PEOPLE 


turope 

Today 

— 

Tomorrow 

— 


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Forecast for Sunday through Tuesday, as provided by Accu-Weather. 



Today Tomorrow 

High Low W High Low W 


JSMrM'n 


COW 


I UnMa»TOlily 
Wot 




North America 

Periods of rain and even a 
iHunderstorm will -sweep 
through rh«* Northeastern 
status Sunday Ory, pleasant 
weather wiB follow aarty next 
wash A new storm viili move 
into die Southwestern states 
earty next week with rain m 
most areas, snow win whiten 
the mountains 


Europe 

Western Europe will be 
unsettled Sunday Into eaity 
next week. Windswept rains 
are Ukety tram Lisbon to Bor- 
deaux Parts and London will 
have periods at ram Monday 
and Tuesday. Mifd air and 
showers in central Europe 
Sunday will be followed by 
dry, seasonable weather 
Monday and Tuesday 


Asia 

Sapporo will have windy, 
chilly weaiher early next 
week with ram and snow 
showers. Farther south. 
Tokyo and Osaka will have 
dry weather but wth a cool 
wind. Bangkok through 
Manila will have manly ram- 
free warm weather the next 
lew days Singapore wilt be 
warm with a shower or two. 


Middle East 


Latin America 


Today Tomorrow 

High Low W Wgh Low W 
OF OF CIF OF 

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Legend: s-sumy pc-penty dowdy, c-doudy. ah nhcwera, Hhundwwwms r-ram st-snew flumes, 
sn-jnow. Hca. W-W-Mthar A0 imps, forecasts and data provided by Aces-Wrathor, Inc. : 1894 



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G REETED by Zulu dancers and a chil- 
dren's choir. Whitney Houston kicked 


VJ dren's choir, Whitney Hoi 
off her lour of South Africa in Johannes- 
burg on Friday with a pledge of more than 1 
million rand (5285,000) to South Africa's 
children. “Children in South Africa deserve 
a safe place to live, good health and some- 
one to hold them when they go to sleep," 
Houston said, speaking at a children's mu- 
seum. Her first concert will be Tuesday. 


The editor and satirist Aziz Nesin, who put 
his life on the line by publishing extracts 
from Salman Rushdie's “The Satanic 
Verses” in Turkey, will be honored next 
week by the New York-based Committee 
to Protect Journalists. Muslim fundamen- 
talists. enraged by Nesin’s presence in the 
central Turkish town of Sivas. set fire to 4 
hotel during a cultural festival lasL yes 
that killed 37 people. 


Bob Dylan's companion of nearly 20 
ars is suing him for more than $5 mil- 
'll, claiming she co-wrote his music and 


helped manage his career before they 
broke up last year. The suit doesn't sa'v 


Charlton Heston is offering 5 1,000 to the 
person who comes up with a title for his 
autobiography. 


broke up last year. The suit doesn't say 
which songs Ruth Tyrangiel worked on. 
Dylan's publicist, Elliot Mintz, said that 


the singer and his attorneys hadn’t seen a 
copy of the suit but that “the matter will be 


copy of the suit but that 
vigorously defended." 


Bob Dylan: A day in court? 


A Nigerian journalist, Bayo Onanuga, 
has become the first African to win the 
Lord As tor Award, a journalism prize for 
reporters in the British Commonwealth. 
Bayo is the editor in chief and chief execu- 
tive of the News and Tempo weekly maga- 
zines and the P.M. News newspaper. . . . 


A quarter-century after Dennis Greene, 
the former Sha Na Na lead singer, doo- 
wopped his way across the stage at Wood- 
stock, he's teaching business law at the 
University of Oregon. He’s also starring in 
his own play, which opens this weekend on 
campus. “I have bad what you might call a 
diverse career,” Greene said. His play. 
“Harlem Exchange," is based partly on bus 
life. It follows two friends who grew up in 
Harlem — oae who went to an Ivy League 
school and the other who stayed to work for 
civil rights. 







4 — * • . • 


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thought, isn’t your flight about ready to take off? 


SAIPAMt 235-2872 

Singapore boo-oiimii 

SW LANKA 430-430 

Taiwan*. rara-iKsa-o 

THAILAND* 0019-991-1111 

EUROPE 

ARMENM*’ 8914111 


AUSTWA't+t 
BELGIUM* . . 
BULGARIA 
CROATIA** 

CZECH REPUBLIC 
DENMARK'. 
FINLAND' . . 
FRANCE ..... .. . 
GERMANY . . . . 
GREECE' . 


022-903-011 
. B- BOD-1 00-10 
. .00-1800-0010 
. .99-38-0011 
00-420-00101 
8001-0010 
0809-100-10 
19C-0011 
0130-0010 
00-800-1311 


HUNGARY' 
ICELAND'. 
IRELAND . 

ITALY' 

LIECHTENSTEIN* 

LITHUANIA* 

LUXEMBOURG 

MALTA 

MONACO'. 

NETHERLANDS' 


00C-BM-D1111 
999-001 
t-ttO-550-808 
. 172-1011 
155-00-11 
• • -MttS 
. .O-BQO-Om 
DBOO-8B9-11D 
19HHJ11 
08*022-9111 


NORWAY 
POLAWr*.,. . 

PORTUGAL’.. 

ROMANIA 

SLOVAK REP. 
SPAM. 
SWEDEN' . 
SWITZERLAND’ 
UKRAINE'. . 
U.K. 


. ...880-190-11 
K810-460-0111 
0S017-1-2BB 
91-809-4288 
. 00-420-00101 
000-99-80-11 
020-795-811 
. . .IB-80-11 
. . 80100-11 
.0588-89-8011 


HiBfil'wualft.'JCjnnwjni; j| U| sra%-ntflrJtt^si|i»cwinmi. i r*cnloj»IitTilijIini!il». «ArAiiiitnK.'f 

■ ouMJe Jh» iWal I flN .^Wd-HpliuL • JUi W In an)U.k> li.«t .n.-} |4w t^^t 1,^1 d.v.H dnrali*ii *.V? a-.all*ls w.U pi<ilv plaw *•*',« ^ fnm jji 0 Wl cdllra Irtw let [J.o* -ruA«J 'UM -Ctllhv .^4jNr ''*'*** I .iffl.-r ^ j.- 

1 ■ ■f'-^'kwtimunp calls .,i!, . 


MIDDLE EAST 

BAHRAIN 800- GDI 

CYPRUS* 080-90010 

EGYPT' (CAlHO)' . ... 5KMOOO 

ISRAEL 177-108-7727 

KUWAIT .:.M(J-2K 

LBAN0«(BaHUT]‘ 429-801 

SAUDI ARABIA 1-800-10 

TURKEY* 00-808-12277 
U AftABEMRATES*. ■ BOO-121 


AMERICAS 

ARGENTINA* 001-800-200-1 111 


BOLIVIA'* 
BRAZIL .. .. 
CANADA 

CHILE. 

COLOMBIA. 

EL SALVADOR*. 


. .0- B00-1112 
. . 908-8010 
1-800-575-2222 

.we-iBtt 

980-11-9910 

190 


HONDURAS'.. 123 

MEWCOOM. . 95-800-482-4240 


PANAMA.. IBS 

PERUT. 191 

VENEZUELA'. B0-DVM28 

AFRICA 

GABON* 005-901 

. ... 08111 

IVORY COAST'. .99-111-11 

KENy A’ . . 0800-10 

LIBERIA 797-/97 

SOUTH AFRICA 0-800-98-0123 


TrtteWorld* Conn ecliotis 


AT&T 


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