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Paris, Thursday, November 17, 1994 


No. 34.748 


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^Biuouienea tvepubuccais Alter Stance 
As They Angle for Clinton Concessions 


. . .. . -By Paul F. Horvitz 

International Herald Tribune 

. : /WASHINGTON — The White House 
- anil business groups began a campaign 
Wednesday to gain congressional ratifica- 
• tinn of the world tariff- reduction treaty, 
but RepubHcan leaders indicated that they 

- would demand a legislative exit hatch af- 

- lowing the United States to quickly quit 

- the new global trade organization. 

k The Republican stance, enunciated by 
Iterator Bob Dole, signaled that dicey, 
private negotiations between the White 
House and Republican leaders lay ahead 
for a politically weakened president as he 
pursues one of his key policy goals. 

Senator Dole said he wanted legislation, 
outside of the GATT accord, to “extricate 
us from the World Trade Or ganization if 
we are getting adverse decisions. That’s the 
big Sticking point.” 

Votes in the House and Senate on ratifi- 
cation are scheduled for Nov. 29 and Dec. 
i. and proponents say any delay will effec- 
tively fcflthe trade agreement, which cre- 
ates the new World Trade Organization. 

Apparently emboldened by their fresh 
electoral victories in the Senate and House 
of Representatives, Republican leaders 
who had previously sworn general alle- 
giance to the global trade deal now are 
angling for concessions from the Clinton 
administration. 

Mickey Kantor, the top trade adviser to 
Mr. Clinton, said . Mr. Dole’s proposal 
’ should be considered carefully” and that 
agreement was “quite possible.” 

. One longtime opponent of the accord. 
Senator Jesse Helms, Republican of North 
Carolina, has demanded a delay of the 
congressonal votes. In a letter this week, 
oE iukl tbs White House that if it agreed to 
u delay, Mr. Helms would promise to fully 
air White House foreign policy views when 
he takes over in January as chairman of the 
Senate Foreign Relations Committee. 

White House officials immediately xe- 
‘^cied Mr. Helms’s overture, saying that 


would be an “epic” vote but that he was 
hugely concerned” about the outcome. 


any delay would bury the entire global 
trade deal Mr. Dole agreed that a vote this 


trade deal Mr. Dole agreed that a vote this 
year would be preferable. _ 

The White House, at least publicly, 
maintains that the tariff accord, under the 
Gener^ Agrcement on Tariffs and Trade, 
or GATT, will ultimately pass because it is 
too important to be lost to partisan poli- 
tics. Senator Daniel P. Moyxuhan, a New 
York Democrat and leading GATT propo- 
nent. said Wednesday that ratification 


A wide range of U.S. business leaders 
sought to publicize their support for the 
agreement at a news conference in Wash- 
ington on Wednesday. Before he left Ja- 
karta, Mr. Clin ton told a business group 
there that “the world is looking to the 
United States for leadership” to complete 
the GATT agreement and that he must 
“capitalize" on the bipartisan support. 

Mr. Kantor said world leaders were 
watching. 

They’re waiting," he said, “and they're 
depending on us.” 

Vice President A1 Gore termed the 
agreement “the biggest tax cut in the histo- 
ry of the world” because tariffs would be 
reduced so broadly. A delay, he said, 
would “hurt our country immeasurably.” 

But Republican pressure is mounting. 
Representative Newt Gingrich of Georgia, 
the incoming speaker of the House of Rep- 
resentatives, said Wednesday that be was 
“very, very concerned” about prospects for 
ratification and declared that the president 
“needs to agree” with Mr. Dole’s sugges- 
tions. 

According to one report, Mr. Dole is 
also seeking the creation of an indepen- 
dent commission to review decisions of the 
world body. 

The World Trade Organization will 
judge and resolve trade disputes, but no 
nation will have a veto over the outcome, 
as in the past. Mr. Dole says he is con- 
cerned that the United States will lose 
sovereignty over its own trade-related 
laws. 

Under the accord, the United States can 
ignore final World Trade Organization rul- 
ings. But it may have to pay a compensat- 
ing tariff to a country that has successfully 
argued that Washington's trading prac- 
tices are unfair for a particular product. 
According to some experts, however, the 
United States is likely to win far more 
cases than it will lose. 

Under the current ratification legisla- 
tion, Congress can vote to withdraw from 
the new World Trade Organization after 
five years. 

Moreover, the president can withdraw 
the United States from the organization 
after giving six months’ notice. Presum- 
ably, Mr. Dole is seeking language that will 
give Congress greater authority to pull the 
United States out. 



Ireland Faces 
Elections as 
Coalition Falls 
In Court Feud 


Labor Party Disregards 
Reynolds's Warning on 
Ulster Peace Process 


Battered Dollar Looks Set for a Reprieve 


By Carl Gewirtz 

lniemaiiomd Herald Tribune 

PARIS — The market’s mood toward 
the dollar has clearly improved. 

After the unexpectedly big increase in 
U.S- interest rales, traders were cautiously 
optimistic about the dollar, and the dollar 
held on to much of the gains it scored on 
Tuesday. 

Traders said that there was no massive 
rush to buy the currency Wednesday, ex- 
plaining that with the approaching year- 
end closing of books and the dollar s dis- 
appointing performance this year, 
investor were hesitant to stake out new 
positions now. The U.S. unit closed 
Wednesday in New York at 1.5505 Deut- 
sche marks, off from 1.5558 DM on Tues- 
day. 

But analysts such as Andres Drobny at 
CS First Boston in London and Christo- 


pher Iggo at Chase Manhattan Bank in 
New York, who earlier this month were 
warning of a possible collapse of the dol- 
lar. are now dearly more upbeat. 

“The prospect of a collapse has been 
eliminated,” Mr. Drobny declared. “There 
has been a sea change in the environment,” 
he said, following the higher- than- expect- 


[■ DowJones 

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Up 

0.26% •• 

114 76 

s The Dollar 

New York. Wed. close 

. % 

previous dose 

1 DM 

1.5505 

1.5558 

J Pound 

1.5735 

1.572 

1 Yen 

98.36 

98.75 

1 FF 

5324 

5.3425 


See DOLLAR, Page 12 


Declaration on Asia-Pacific Trade: It Is Bolder Than It Looks 


By Andrew Pollack 

Sew York Tunes Service 


JAKARTA — In setting their vast and 
dial region on the path toward free trade 
by the year 2020, the leaders of 18 nations 
around the Pacific Ocean have taken a step 
Lhai may seem at first glance to be more 
cautious than bold. 


the leaders in the room with a chance of 
still being in office in 26 years. 

Carrying out the free-trade agreement, 
however, w SI be far more arduous and 


NEWS ANALYSIS 


After all, as one prime minister noted 
Tuesday,, the sultan of Brunei (who rules 
for life and is 48) was the only one among 


contentious than merely enunciating the 
vision. The leaders described what they 
had done as “historic,” but the judgment 
of history is likely to depend not so much 
on what was said as how the leaders’ “dec- 


Clinton has no success in changing Suharto’s line on human rights. Page 7. 


laration of common resolve" is translated 
into action. 

The Bogor Declaration, issued from a 
colonial-era palace in Bogor, 65 kilometers 
south of Jakarta, proclaimed a “commit- 
ment" to achieve Tree and open trade and 
investment” in the Asia-Pacific region by 
the year 2020. 

The industrialized nations in the group, 
such as the United States, Japan and Can- 
ada, are to achieve the goal no later than 
the year 2010. 

The goal is ambitious — the world’s 
largest free-trading area, one that spans 


four continents and encompasses coun- 
tries that now account for more than half 
the world’s economy, and more than 40 
percent of its trade. 

“This is the biggest single trade initiative 
in history," said C. Fred Bergsten, the 
American economist who chaired an advi- 
sory committee that helped draft the plan. 
“This is half the world deciding to elimi- 
nate barriers to trade and investment" 

By contrast he said, the General Agree- 
ment on Tariffs and Trade covers poten- 
tially the entire world, but does not seek 
complete elimination of barriers. 


But it will probably take several years 
for the first tariff cuts or other measures to 
be seen. The advisory committee chaired 
by Mr. Bergstea called for the first tariff 
cuts and other liberalization steps to begin 
in the year 2000. But that date did not 
make it into the final draft of the Bogor 
Declaration. 


Dismantling trade barriers will also not 
come naturally for the countries of Hast 
Asia. They have achieved their rapid eco- 
nomic growth in part through a strategy of 


See APEC, Page 6 


Kiosk 


Nice’s Ex-Mayor 
Is Extradited 


School Prayer Takes Center Stage 

But Amending U.S. Constitution Won 9 tBeEosy 


W: IS 


MONTEVIDEO (AFP) —The for- 
mer mayor of Nice, Jacques M6decin, 
was extradited to France on Wednes- 
day to face corruption and fraud 

charges. . , 

The Air France jet carrying Mr. 

Mfidecin departed for Jj 1 ™ °. n 
Wednesday, with stops m Sao Paulo 
and Rio de Janeiro. The flight was due 
in Paris on Thursday morning. 

Mr. Mbdecin, 66, had spent nearly a 
year in Uruguayan prisons after ms 
in* a Nov- 25, 1993, m Praia <W 
Este, a beach resort east of the capital. 
He fled to Uruguay more than four 

years ago to escape trial on diarges of 

iususTof public funds and corrup- 
tion. 


International Herald Tribune 

WASHINGTON — The long-standing 
debate over prayer in American public, 
schools, which hovered on the margins of 
the congressional elections, has ballooned 
into a front- and-cen ter issue for the White 
House and the resurgent Republicans in 
Congress. 

The question has been propelled by re- 
cent comments from President Bill Clinton 
and the incoming speaker of the House of 
Representatives, Newt Gingrich of Geor- 
gia, who seem to agree that a fresh look at 
school prayer is warranted. 

Underlying the debate is a broad con- 
cern among Americans, detected in a vari- 
ety of opinion surveys, that the nation is 
losing its moral compass. 

Civil liberties groups, which have long 


warned against breaching the legal barrier 
between church and state, have expressed 
shock and anger tbax Mr. Clinton, a Dem- 
ocrat, has now opened a door to amending 
the constitution in a way that Republican 
conservatives have long urged. But it is 
unclear how far Mr. Clinton intends to 
take the issue. 

Mr. Gingrich raised the school prayer 
question in an interview with a Washing- 
ton newspaper shortly after the sweeping 
Republican victories in elections last week. 
Asked in Jakarta on Tuesday what he 
thought of the idea of amending the consti- 
tution to permit prayer in schools, as Mr. 
Gingrich had suggested, the president said 
he would not rule it out 

On Wednesday, Mr. Gingrich in turn 

See PRAYERS, Page 8 







A young Angolan warily watching a soldier as bis country edged toward peace. 


General Nows 

Suddenly, Repohfican lobbyists are in 
great demand in Washington- P»g®3. 
Socialists’ hopes are on the risejor 
French presidential elections. Page 7. 

Business/Finance 

Indonesia signs potential $40 billion 
natural-gas pact with Exxon. Page 11. 


Without Ethnic Balance, Bosnia Grows More Muslim 


Book Review 
Bridge . 
Crossword 


page 9. 
Page 9. 
Page 19. 


Ne wsstand Prices T ~ 

Andorra 9.00 FF Luxembourg 60L.Fr 

Antilles ..U.20FF Morocco ... . .--12 Dh 
C?^..lv400CFA Qatar -8.«,Rials 
Egypt.,;...E.P.5000 R&jmon ....1 1 .20 FF 

France 9.00 FF Saudi ArablaJ.OOR. 

Gabon .960 CFA 

Greece !..3QQ Dr. Spain ...... 2 Q 0 PTAS 

Lire Tunisia 

!S3£S S! ■’•■i jS ofiE-ia nS 

Lebanon luSS 1 JO U.S: Mil. CEurJ SUfl 


By John Pomfxet 

Washington Pea Service 

SARAJEVO, Bosnia-Herzegovina — When he began 
his eighth year of school in September, Dino Bedrevic 
was faced with new choice: a class in religion. Although 
he should have been offered his pick of three beliefs, 
Islam was the only option. . 

In the beginning the 12 -year-old stayed away from the 
classes, but recently he started attending. Religious stud- 
ies are held in the middle of the day, and there is nowhere 
to wait on Sarajevo’s sometimes dangerous streets until 
the next class. 

“They’re teaching us bow to pray, the gangly, fair- 
haired boy said with an embarrassed smirk. “I’d rather 
learn about computers.” 

The re-entry of religion into public schools m Bosma- 
Heizegovina after a 47-year ban by Communist authori- 
ties is part of a series of moves by the mostly Muslim 
government in Sarajevo to embrace Islam as a state creed. 
Among other devices are the establishment of pork-free 
stores public criticism of mixed marriages as “impure, 
the firing of all bui one non-Muslim director of state-run 


firms, and official denunciations of an independent 
newspaper and radio station for their secular ideals. 

While the Muslims’ Serbian enemies have trumpeted 
these developments as signs that Islamic fundamentalism 
is taking root in Bosnia, their significance, according to 
Western diplomats, appears to be founded more in the 
authoritarian political culture of Yugoslavia and its for- 
mer republics than in extremist movements from the 
Middle East 

Bosnia is not sliding toward an Islamic state, these 
officials argue, but moving toward a one-party stale, 
controlled by President Alija Izetbegovic’s Party of Dem- 
ocratic Action. 

The move toward a one-party state with a Muslim edge 
presents a challenge to a government that founded its 
struggle agains t Serbian nationalist aggression on the 
ideals of a tolerant society. 


Throughout the war, the Sarajevo government has 
employed the motto “multicultural, multiethnic" to 
spearhead its struggle against the better-armed and bet- 
ter-organized Bosnian Serbs. While the Serbs used tanks 
and howitzers to grab 70 percent of Bosnia, the Muslims 


gained the upper hand in the diplomatic struggle for 
sympathy abroad 

But a huge shift in population has helped spur changes 
in Bosnia, creating a volatile mix easily exploited by a 
political party committed to ensuring its survival after the 
war. 

Since 1992, Serbian forces have expelled more than 1 
milli on Muslims from their territory. These refugees, 
often from the countryside, have poured into Sarajevo 
and other Bosnian cities, upsetting the delicate ethnic 
balance between Croats, Muslims and Serbs. 

As more Muslims arrived in these cities and towns, 
Croats and Serbs began to leave in droves. International 
relief agencies estimate that over the last few months, 
now that roads are open to the Croatian coast, tens of 
thousands of Serbs and Croats have moved, either to 
Croat- or Serb-held areas or abroad. 

Tuzla, for example, was mice a symbol of ethnic 
harmony in Bosnia. In 1990 elections, it was one of two 
cities in Bosnia not to elect an ethnic-based party to 

See ISLAM, Page 6 


By James F. Clarity 

AW York Times Service 

DUBLIN — The coalition government 
of Prime Minister Albert Reynolds col- 
lapsed Wednesday when Foreign Minister 
Dick Spring withdrew the support of his 
Labor Party. 

Mr. Spring’s decision will lead almost 
inevitably to a general election before 
Christmas. 

Mr. Reynolds had been striving for five 
days io preserve the twoyear-old coali- 
tion, defending himself against charges of 
arrogance ana deviousness made by his 
coalition partners of the Labor Party. Mr. 
Reynolds had argued that a change of 
government would impede efforts toward 
peace in Northern Ireland, in which he has 
had a significant role. 

But, Wednesday night, after a long day 
of angry speeches and parliamentary bug- 


ger-mugger, Mr. Spring said he and other 
Labor Party ministers would not support a 


ed raise in U.S. interest rates by the Feder- 
al Reserve Board on Tuesday. 

Mr. Iggo agreed that following the Fed's 
“strong signal that it’s determined to slow 
growth and keep inflation low means that 
the dollar is unlikely to test its historic lows 
against the Deutsche marie or the yen this 
year.” 

He said the dollar would be trading 
between 1.50 and 1.58 DM through the 
end of the year, and between 97 yen and 
100 yen. Bui be was cautious about the 
outlook for next year, saying that it would 
depend on how successful the Fed is in 
slowing U.S. growth to a level consistent 
with control of inflation. 

Paul Cherikow at Union Bank of Swit- 
zerland in London expected the dollar to 
trade higher. But at present, he said, trad- 
ing activity is thin. “We have a situation 


Labor Party ministers would not support a 
vote of confidence in Mr. Reynolds in the 
Parliament, and would resign from the 
government. 

That produced several possible scenari- 
os: Mr. Reynolds could apply to President 
Mary Robinson for a dissolution of the 
166-member Parliament. She could gram 
it, setting up national elections in Decem- 
ber. 

Or she could use her constitutional au- 
thority to refuse Mr. Reynolds, and allow 
Labor and opposition parties to try to 
form a new coalition government without 
Mr. Reynolds and his Fianna Fail party. 

There was also the possibility that Mr. 
Reynolds could resign as prime minister 
before Labor nails down his defeat in the 
confidence vote Thursday morning. His 
party could then choose a new leader and 
try to persuade Labor to support this lead- 
er as prime minister in a new coalition. Or 
Mr. Reynolds could remain as leader and 
try to help his party win an outright major- 
ity in an election, obviating the need lor a 
coalition. 

The collapse came after Mr. Spring, who 
is deputy prime minister as well as foreign 
minister, accused Mr. Reynolds of sup- 
pressing facis in the dispute that detonated 
the political crisis. 

Last Friday, Labor ministers walked out 
of a cabinet meeting to protest Mr. Reyn- 
olds’s decision to promote on the same day 
his attorney general, Harry Whelehan. as 
president of the High Court, the country's 
second-highest judicial post. 

Labor had argued against the appoint- 
ment, insisting that Mr. Whelehan explain 
to Parliament his failure to am in a case 
involving extradition warrants from 
Northern Ireland for a Roman Catholic 
priest accused, and later convicted, of 
child molestation. The case has caused an 


uproar of political and public invective in 
this predominantly Roman Catholic coun- 


this predominantly Roman Catholic coun- 
try. The promotion put Mr. Whelehan be- 
yond Parliament's power to question him. 
In Parliament on Tuesday. Mr. Reyn- 


See IRELAND, Rage 8 


Angola Orders 
Its Troops to 
Stop Shooting 


Compiled by Our Staff From Dispatches 

LUANDA Angola — Angola's army, 
close to military victory over UN1TA re- 
bels. ordered its troops Wednesday to 
cease fire so that a peace treaty could be 
signed to end 19 years of war. 

If it holds, the cease-fire will open the 


wav for a formal peace treaty that will 
disband the rebel army, begin integrating 


disband the rebel army, begin integrating 
the insurgents into the government and a 
unified military, and set in motion the 
provisions for United Nations cease-fire 
monitors. 

The formal treaty was to have been 
signed Tuesday, but Jonas Savimbi, the 
rebel leader, would not leave his command 
post in the countryside because the gov- 
ernment has continued to fight throughout 
recent negotiations. 

Despite Angola’s long history of broken 
peace agreements, the UN special repre- 
sentative to Angola, Alioune Blondin 
Beye, declared that the truce meant “there 
is going to be no more killing in Angola.” 

Mr. Beye said he was confident that Mr. 
Savimbi and President Jos6 Eduardo dos 
Samos would sign the full treaty on Sun- 
day in Lusaka. Zambia, where the agree- 
ment was reached Tuesday night 

Genera] Eugenio Ngolo, the senior offi- 
cer at the talks from the rebel UNITA, the 
National Union for the Total Indepen- 
dence of Angola, agreed. 

“We think that it will be done,” he said. 
A government military representative. 
General Pedro Neto, nodded his concur- 
rence. 

The rebels, with their forces hard- 
pn^ed, appealed for a rapid deployment 
of UN monitors. 

The Angolan Army chief of staff. Gen- 
eral Joao de Matos, in a statement broad- 
See ANGOLA, Page 6 


1 







Page 2 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 


A Mystery Deep in Russia’s Wilderness: Missing Rangers 


By Fred Hiatt 

Waskmgun Post Service 

MOSCOW —They set out into the wild taiga 
on Sept 3, *n»irmg camp their first night in an 
old hunter’s hut They breakfasted the next 
mnmiwg i intw investigations showed, and had 
begun preparing lunch: onions, strong tea, thick- 
ly sliced bread. 

That is the last anyone knows of the three 
experienced forest rangers and their young 
friend, who was considering a career alongside 
rtiVan Now their colleagues fear that all four have 
become victims of foul play — victims, in fact of 
a little-noticed but escalating war between Rus- 
sia’s embattled nature reserves and their impov- 
erished neighboring populations. 

Across Russia, poachers, loggers and herds- 
men are invading wilderness areas, threatening 
the dwindling habitats of hundreds of endan- 
gered species. Forest rangers, underfunded and 
poorly trained, are practically defenseless, espe- 
cially as the fear of authority of the Soviet era 
gives way to a climate of lawlessness. And ecolo- 
gy activists say that most Russians, preoccupied 
with other problems, hardly care. 

“If four Yellowstone rangers were killed, it 
would shake America, I'm sure,” said Vsevolod 
Stepanitsty, vice chairman of the Biodiversity 
Conservation Center, an advocacy group in Mos- 


cow. “But not enough Russians know where we 
are or why we're needed. And the overall level of 
crime is so high, people are convinced that you 
can kill anybody and get away with it.” 

“A tragedy has taken place,” said Deputy 
Environment Minister Amirkhan Amirkhanov. 
“It is too big a loss for us. These were devoted 
specialists. We cannot allow them to be 
forgotten.” 

At the Sayano-Shushensky Nature Reserve in 
the mountains of southern Siberia, not far from 
Mongolia, tensions have been growing for years. 
Forest rangers want to preserve the isolated 
splendor of their reserve, home to snow leopards, 
Altai mountain sheep, golden eagles and other 
endangered species. But neighboring communi- 
ties, already pushed onto rocky steppeland by 
foolish Soviet policies, want access to the re- 
serve’s mountain meadows to graze their cattle 
and to hunL 

Ethnic tensions aggravate the problem here, 
since the reserve borders on the autonomous 
region of Tuva, a nation of proud horse-riding 
herdsmen who were independent until 1944 — 
later than any other part of today’s Russia. 
Neighboring Tuvins have been evicted, from tra- 
ditional grazing lands. Now reserve officials 
complain that Tuva authorities have offered little 
help in the search for the four missing men. 


Vladimir Suge-Maadyr, a representative in 
Moscow of the Tuva Autonomous Republic, 
angrily denied such allegations. He said the Tuva 
Interior Ministry had carried out an active search 
and was continuing to investigate the case. 

Mr. Suge-Maadyr also said the case should not 
be put in the context of ethnic tensions or anger 
at the reserve. 

“Naturally, any person who gets kicked out is 
going to feel resentful, but to start shooting or 
start a civil war, nothing like that is happening,” 
he said. “There’s crime m Tuva, there’s crime in 
Moscow, there’s crime in New York. To accuse 
an entire people is absolutely unacceptable,” 

Mr. Amirkhan ov agreed that no conclusions 
could be drawn until the case was solved, but he 
added, “All signs point to Tuva.” He also said 
that preserve officials and the Tuva authorities 
must sit down and work out their problems 
“before everything is entangled in blood.” 

To some extent, the problems began with the 
creation of the Sayano-Shushensky reserve in 
1976. Although it is in Russia’s Krasnoyarsk 
region, across the border from Tuva, a number of 
Tuvin f amili es had lived on its territory. They 
were expelled, and, in some cases, their houses 
were burned down to make sure they would not 
return. 

“It was a different system then,” said a park 


biologist, Timur Mukhamediev. “The ^adminis- 
tration d grided, and that’s how it was.” 

Construction in Tuva of a g ia nt dam for hy- 
droelectric power compounded the problem, cre- 
ating a reservoir that in the mid-Iy80s put two 
Tuvin towns under water and flooded muoi or 
their best pastureland. As a result, Mr. Mukha- 
mediev said, the steppe between the reservoir 
»nd the reserve became even more overcrowded, 
with overgrazing turning much of it into a 


WORLD BRIEFS » 

UN Asks to Put Team in North Korea 

VIENNA (Rottrt 

^ g ?” S “aSSi A^c S &^A«mcy said the same team, 

/Hie International Atomi putting in place 


As meadowlands in the nature reserve in tne 
meantime recovered from past overuse, neigh- 
boring herdsmen became more and more 

covetous. , , 

At the same time, the reserve closed a .trail that 
leads through it to a sulphur spring that noias 
both religious and medical significance for the 
Tuvins. 

When Alexei Novoselov, 36, and his crew left 
Sept. 3 for a regular patrol of the reserves 
border, they traveled without two-way i^dios- 
This was in part due to “complacency, Mr. 
M ukhamedie v said, in part because the re- 
serve was always short of batteries. 

Laborious combing of the preserve has turned 
up no signs of any of the men, Mr. Mukhamediev 
said A comparable search in Tuva has not been 
permitted, he added. 


some u> ms — 

Mg* ^SrSfPSSSSh safeguards department, Bruno Pd- 
TTie ^ wi^NorthKorea’s ambassador to 

laud, madte thi cSUft Sop at the agency’s headquarters in the 
ISii^pitST^wSe first official me^ between North 
Korea antfthe agency since Pyongyang pulled out of the 121- 
nation organization in June. 

Anti-EU Forces Lead Polls in Norway 


m pons pUOOAUCU 

voters' approval of membership Sunday would sway many Nor- 
wegians toward a “yes.” . . 

Backers of European Union membership made strong gams m 
polls published Tuesday, leading to hopes in their camp that 
Norwegians would vote in favor of joining the EU in a Nov. 28 



Berlusconi, 
Frustrated, 
Threatens 
To Call Vote 


gS^S8L 


• v .. . v w yv .• • 

’ V , Ik- 

—7 


'I,. 


Petra* Mulnlxs/ Renters 


ALL CLEAR, BUT KEEP OUT — A Lithuanian soldier stopping searched for a bomb by Lithuanian and Swedish experts after two 
journalists Wednesday from entering the country’s main unclear power threats to bomb the plant — one from a gang whose leader has been 
plant, 160 kilometers from Vilnius. The plant was shut down and sentenced to death and the other in an apparent extortion attempt. 

Ukraine Ratifies Nuclear Treaty 9 With Conditions 


Ageuce France- Prase 

KIEV — The Ukrainian Par- 
liament on Wednesday ratified 
the Nuclear Nonproliferation 
Treaty but attached conditions 
including the signing of an in- 
ternational accord guarantee- 
ing Ukrainian security. 

President Leonid Kuchma 
told Parliament that a memo- 
randum guaranteeing Ukraine’s 
security would be signed by 


Britain, Russia and the United 
States at the Conference on Se- 
curity and Cooperation in Eu- 
rope to be held Dec. 5-6 in Bu- 
dapest. 

A Western diplomat in Mos- 
cow confirmed that the accord 
was being prepared. 

The Parliament also set a 
condition that its nuclear mate- 
rials remain the property of 
Ukraine, with the proviso that 


they could be used only lor 
peaceful purposes. 

A third condition was that 
economic or military pressure 
from a nuclear state would be 
considered an exceptional cir- 
cumstance allowing Ukraine to 
re-examine its position on the 
nonproliferation treaty. 

The Parliament voted, 295 to 
10, to ratify the treaty in princi- 
ple. A second vote, confirming 


the conditions, was passed, 301 
to 8. 

Russia, the United States and 
other Weston powers have re- 
peatedly pressed Kiev to ratify 
the treaty, which took effect in 
1970 and is due to be renewed 
in 1995. 

The treaty commits nuclear 
powers not to help nnimtiriaar 
states develop atomic weapons, 
and the nonnuclear states not to 


attenmt to build them. It also 
forbids conversion of nuclear 
technology from civilian to mil- 
itary use. 

Under a separate agreement 
reached in January with Russia 
and the United States, Ukraine 
has begun dismantling its arse- 
nal of 176 rockets and about 
2,000 warheads inherited from 
the Soviet armed forces during 
the breakup of the Soviet Uoioo 
in 1991. 


Major Defies Backbenchers on European Policy 


Reuters 

LONDON — Prime Minister 
John Major challenged Conser- 
vative Party rebels on Wednes- 


For 

investment 

information 

read 

THE MONEY 
REPORT 

every 
Saturday 
in the 
IHT 


day to back his government 
over its European policy or face 
an early election. 

As rightists of the ruling par- 
ty threatened to vote against a 
lull to raise British payments to 
the European Union, govern- 
ment officials said Mr. Major 
would make it a vote of confi- 
dence in his government. 

With a majority of only 14, 
and with rebels triumphant at 
their scuttling of government 
plans two weeks ago to priva- 
tize the Post Office, Mr. Major 
could face a tough fight. 

But the officials said Mr. Ma- 
jor would not flinch, bringing 
the EU bill to the House of 


Commons as fast as possible, 
possibly within two weeks. 

Although Mr. Major does not 
have to face election until 1997, 
defeat in a vote of confidence 
would force an early poll and 
almost certainly lead to the 
Conservatives’ losing their 15- 
year hold on power. The resur- 
gent Labor Party leads the Con- 
servatives by 25 points in 
opinion polls. 

The bill, which would raise 
Britain's contributions to the 
European bloc by £259 milli on 
(S400 million) a year by 2000, 
was the most controversial fea- 
ture of a low-key program un- 
veiled in a speech bv Queen 


Elizabeth at the state opening upset Mr. 1 
of Parliament period of a 

Mr. Major avoided radical P°kcy tarns 
measures in the style of his pre- a senior 1 
decessor, Margaret Thatcher, ber erf Parii 
and demanded by her diehard Fox, warn© 
supporters in the party. interview tl 

The speech unveiled plans to Major over 
open up the domestic gas mar- down the go 
ket to competition, to equalize elections, 
the pension age for men and g ut 
women at 65 by the year 2020 seemed to fc 
and to authorize the pnvate sec- Gorman az 
P 1 . bufld a high-speed ml ^ 
hnk between London and the Conservative 
Channel Tunnel saying they 

But the dispute over Europe the ultimata 
overshadowed other events and vote against 


upset Mr. Major’s hopes of a 
period of calm after a year of 
policy turnabouts and scandaL 

A senior Conservative mem- 
ber erf Parii ament. Sir Marcus 
Fox, warned in a BBC radio 
interview that defeat for Mr. 
Major over the bill could bring 
down the government and force 
elections. 

But the strong-arm tactic 
seemed to backfire, with Teresa 
Gorman and Tony Marlow, 
two members of a hard core of 
Conservative rebels on Europe, 
saying they were astonished at 
the ultimatum and promising to 
vote against the bifL 


Age May Soon Be No Bar to an English Refuge 


LONDON — England and Wales will 
allow children into bars and may possi- 
bly open pubs on Sunday afternoons for 
the first tone since World War I, a gov- 
ernment minister said Wednesday. 

The traditionally restrictive laws gov- 
erning pubs will be liberalized next year 
under an order that the Home Office 


minister, Michael Forsyth, will propose 
to Parliament. 

Children under 14, at present limited 
to special family rooms in pubs, will be 
allowed into the main bars starting next 
year, Mr. Forsyth said. But magistrates 
will first have to be satisfied that the 
pubs concerned offer a family atmo- 
sphere, he said. 

“Adults will be able to enjoy a drink in 


the company of their families,” Mr. For- 
syth said at a leisure industry conference. 
“Children are likely to benefit from see- 
ing sensible drinking in a comfortable 
and relaxed atmosphere.” 

He also said he was looking at an 
anomaly under which pubs can open 
every afternoon of the week except Sun- 
days. The present position is “not easy to 
defend,” he said. 


ROME — Prime Minister 
Silvio Berlusconi used threats 
of new elections and parliamen- 
tary brinksmanship Wednesday 
to force reforms of the state 
pension system through the leg- 
islature despite vehement pub- 
lic opposition. 

Defending the measures and 
his use of confidence votes to 
p ush them through Pa rliame nt, 
he said he would poll the ping 
an his fractious six-montb-old 
coalition himself unless its 
members fell into line. 

“If all the forces in the major- 
ity behave responsibly, I think 
the government will last,” Mr. 
Berlusconi said in the Chamber 
of Deputies. 

“If someone doesn’t show re- 
sponsibility it won’t last,” he 
said. “And it won’t be other 
people who make it fall but the 
prime minis ter.” 

“If it isn’t possible to contin- 
ue gove rnin g in the interests of 
the country then the only thing 
will be to go back to the voters,” 
he said. 

The government holds a 51- 
seat majority in the lower 
house. While the Northern 
League has promised to back 
Mr. Berlusconi in the chamber 
vote, it has said it will press for 
changes to the budget plans in 
the Senate, where the govern- 
ment does not have an overall 
majority. 

The lower house voted 
Wednesday, 346 to 208, to sup- 
peat the government in a confi- 
dence vote submitted by Mr. 
Berlusconi to keep pension re- 
forms intact 

The government survived a 
second no-confidence vote, tied 
to another aspect of pension 
reform, 321 to 189. 

Such votes mean legislation is 
automatically passed. 

Mr. Berlusconi, elected in 
March on pledges to take the ax 
to Europe’s largest budget defi- 
cit, is championing a budget 
package that aims to reduce 
next year’s deficit by 48 trillion 
lire ($30 billion). 

Italy's three main labor 
unions called Tuesday for an 
eight-hour general strike on 
Dec. 2 on the pensions savings, 
central to the budget plan, after 
the government decided to put 
them to the confidence test. 

Tens of thousands of workers 
staged spontaneous protests 
across Italy on Wednesday. The 
protests included brief strikes, 
road and rail blockades, and 
marches in a number of cities. 
The budget law is scheduled 
to complete its passage through 
the lower bouse by Saturday 
and then go to the Senate. 

(AFP, Reuters) 


in an opinion puu cunoucica tor me usio *^“*r^“* ■ 

det, 57 percent of those who had made up their minds pl anne d to ; 
oppose EU entry, an increase of 1 percentage point from the. 
newspaper’s poll on Monday. The MM3 institute said 43 percent 

planned to vote "yes.” The Oslo newspaper Verdens Gang said its . 

poll indicated a closer vote, with 52 percent a ga i n st and 48 percent 
for. Both newspapers said their figures did not include undecided 
voters, still a substantial bloc in Norway. ^ 

Israel Bigh ts Unit Warns on Torture 

JERUSALEM (Reuters) — An Israeli human-rights group on 
Wednesday condemned a government decision to allow the secret 
police to get tougher to exact confessions from Palestinian sus- 
pects and accused the government of permitting torture. 

“The government is trying to widen the crack through which a 
legal cover can be given to torture,” Yizhar Be’er, director of the 
human-rights group BTselem, said at a news conference in 
Jerusalem. 

Political sources said Sunday that a cabinet committee, re- 
sponding to the killing of more than 25 people by Muslim 
gue rrillas since October, would relax restraints on the Sirin Bet 
internal secret service for a three-month trial period. Justice 
Minister David Libai, without referring to the specific Shin Bet 
gnirielinca, said: *The co mmi ttee took a decision intended to 
strengthen the Shin Bet’s ability to deal with the wave of tenor- 
ism.” 

Seoul Pulls Diplomats Out of Algeria 

SEOUL (AP) — The Sooth Korean government has o rdere d its 
diplomats to leave Algeria following a violent Muslim extremist 
insurgency, the Foreign Ministry said Wednesday. 

Ambassador Kwon In Huk and two other embassy officials in 
Algiers had beat under the protection of the local police since 
tiffed gunmen shot «nd killed a South Korean business 
executive in October in a campaig n against foreigners. More than 
60 have been killed in 14 months. 

The government Had since evacuated South Korean business- 
men, some embassy officials and their family members to Seoul. 
The ministry said it had decided to evacuate the remaining 
embassy staff as well, because the situation in Algeria had deterio- 
rated. 

TRAVEL UPDATE ~ 

EU Is Hanning 2 New Rail Projects 

STRASBOURG, France (AP) — Two rail projects have been 
added to an ambitious European Union plan to upgrade transpor- 
tation links among the dozen nations, the ElTs economics chief 
said Wednesday. 

Henning Omstophersen said the projects were a high-speed 
railroad linking Glasgow with southern England, and one linking 
Ireland with Continental Europe via the English Channel tunneL 
Fourteen projects have now been given high priority for financ- 
ing by the EU’s executive agency as part of a massive public works 
program designed to create 15 million new jobs by the end of the 
decade. Mr. Christophersen said he hoped EU leaders would 
approve blueprints for the projects when they meet at 
Germany, Dec. 8-9. 

Qmiese local officials have banned vehicles from around the 
museum housing the famous 2,000-year-old terracotta army near 
Xian, in Shaanxi Province, to prevent damage from exhaust 
hnnes ; . (Reuters) 

Region Air, a Singaporean air charter company owned by a 
hotelier, Ong Beng Seng, took off Wednesday on its maiden flight, 
to the Vietnamese aly of Vung Tau. It is Singapore's third fully 
fledged airline, officials said. Region Air is targeting business 
trawlers, primarily in the oil industry, for its twice-weekly flights 
to Vung Tao. east of Ho Chi Minh City. ' (AFP) 


Agcnce France- Prase 

. TEHRAN — Three people, 
including a woman, have been 
stoned to death in Sari, in 
northern Iran, for murder, rape 
and adultery. 


France Issues Warning 
On ATR Commuter Craft 

Reuter: 

. PARIS — French aviation authorities said Wednesday that 
they had issued a warning to airlines flying the ATR-42 and 
72 commuter plants to ban use of the autopilot in icy 

conditions or when flying m severe turbulence. 

■ J f" 1 out . on Tuesday, follows a crash on OcL 31 
m the United States of an American Eagle ATR-72, built by a 
French-Itahan consortium. AU 68 people on biard w2rc 

■ 1116 Fr !^ h asked for the warnings to be 

incorporated in flight manuals within 24 hours 

-4? Federal Aviation Administration 

issued a warning that icing on the wings of ATRs could cause 
problems and said it would make a review of the aircraft in 
conjunction with the French authorities. Icing is consideria 
possible cause of the crash. 

■ National Transportation Safety Board, which is 
mvestigating the accident, has called for the phmes to 

°?P dltJ ? ns while undertaking a major safety 
b 9 ard !“* also recommended that the strict rules 
govCTuing^jor airlines be extended to smaller commutS 
camera. The board s recommendations go to the Federal 
Aviation Administration for action. reaerai 


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Ougncb after fending off tfae press to address the Heritage Foundation. 


POLITICAL NOTES 



Ws Gingrich vs. the Media 

WASHINGTON — Newt Gingrich, the 
House speaker-to-be, and the Washington 
press corps seem to have declared a state of 
open hostility. “How ‘Normal' Is Newt?” a 
Newsweek story asks. A Herblock cartoon in 
The Washington Post shows Mr. Gingrich 
climbing out of a sewer. 

“THE COLD-BLOODED NEWT,” 
shouts the New York Daily News, touting an 
interview with his former wife. CBS calls him 
‘'bombastic and ruthless,” while a New York 
Times columnist, Anthony Lewis, describes 
his methodology as “slash and bum, knife 
and smear.” 

For his part, the Georgia Republican has 
disparaged the “elite media,” barred report- 
ers for the Atlanta Journal-Constitution 
from his office and accused The Washington 
Post of having “deliberately distorted” his 
remarks. He also whacked The New York 
Times for suggesting that a shiny black Cadil- 
lac from which he emerged last week was His. 

As a “bomb-throwing backbencher,” to 
use the preferred, cliche, the former college 
instructor provided great copy for a profes- 
sion that thrives on incendiary sound bites. 
But now that Mr. Gingrich is’about to pre- 
side over the House or Representatives, his 
combative style and provocative views are 
v.beine cast in a harsher light. And embarrass- 
** ing bits of personal history, such as the messy 
1981 divorce from his cancer-stricken wife, 
are being recycled in profile after profile. 

Michael Barone, a right-leaning columnist 
-fpr.U-S. News & World Report, said, “Most 
•of the- press. wNi dismayed by the results of 
the .election. 1 don't think Newt will ever get 
fair treatment from the press, on balance. 
The animus is there." 

Denizens of the mainstream media, not 
surprisingly, have a different view. 

Eric Engberg, a CBS reporter, said, “Ging- 
rich is exhibiting some of the thin-skinned- 
ness you'd expect from a politician who's 
never held power, and thus has not been 
exposed to the kind of intense scrutiny the 
•ins' usually get. The speaker-to-be is learning 
for the first lime that you can't be the bomb- 
thrower and tough political rhetorician and 


then complain when the press gives you fairly 
full coverage. The fact that he's conservative 
is not nearly as important as the fact that he's 
very outspoken and very partisan.” 

( Hmnirtl Kurt:, WP i 

New , but Hot In experienced 

WASHINGTON — Disenchanted voters 
might have sent some congressional titans 
packing, but that hardly means they are send- 
ing an army of amateurs to Washington. 

The 104th Congress that convenes in Janu- 
ary will feature the feast-seasoned crop of 
national lawmakers in nearly 40 years, with 
at least S6 first-term legislators reporting for 
duty to the House to join most of the 1 10 
newcomers elected two years ago. 

But the overwhelming majority of the new 
arrivals, many of whom are Republicans, arc 
not novice legislators. An analysis by the Los 
Angeles Times shows that more than three- 
quarters of the freshman class of '95 either 
have held public office recently or were politi- 
cal operatives — that is. they held political 
party posts or previously ran for office — 
before being elected. 

“Outsiders don’t make it.” said Gary Ja- 
cobson, a political science professor at the 
University of California at San Diego who 
specializes in Congress. “The candidates who 
were able to take advantage of the anti- 
Washington and anti-Democratic sentiments 
were people who themselves were politically 
active and savvy and seized this as an oppor- 
tunity to move into Congress.” 

Only 20 candidates tvho had not held or 
sought political or party offices were elected 
to the House in 1994. even though more than 
250 such aspirants ran. Experienced candi- 
dates remain better able to build formidable 
political and financial support lLATi 

Quote/Unquote 

President Bill Clinton on Republican dis- 
cussion of a constitutional amendment to 
permit prayer in public schools: “HI be glad 
to discuss it with them. I want to see what the 
details are. 1 certainly wouldn't rule it out; it 
depends on what it says.” f WP j 


Navy Chief Fights Shrinking of Fleet 

Boorda Opposes Plan to Speed the Retirement of Ships 


•nios 

er (d 


By Michael Gordon 

Sew York Tima Service 

J WASHINGTON — As the rivaliy among the 
military services has escalated, the U.S. Navy’s 
leading admiral is mounting a campaign against 
plans to shrink the fleet. . 

■ This effort takes place at a time of growing 
Pentagon anxiety over declining military spend- 
ing but it also comes at a time when the Republi- 
cans* election victories have given some tnmary 
officials hope that cutbacks may be reversed. 

In comments to his aides, Admiral Jeremy M. 
Boorda, chief of naval operations, has rgected 
Me mm cMuirv’i nisin to soecd ud retirement of 


ships, 

• Instead, as the budget crunch has intensified. 
Admiral Boorda has said the navy needs about 
346 ships, underscoring demands the tuty on* 
as it shuttles warships back and forth among 
Third World trouble spots. 

! While this seems to be a debate over 16 ships 

and the £240 million a year it takes u> operate 
them, il also turns on fundamentally different 
visions of how to manage the navy, 

; Specifically, the dispute centers on whether to 
put money into preserving the nay u> cope ^with 
today’s brushfire wars or to shrink the fleet and 
eamLfc savings for the future- Smce fim^are 
tigh t even small adjustments m the navy’s 576 
billion budget are significant 
- Admiral Boorda's strategy was oumned ™ 
a blunt memorandum written by Rear Admiral 


J.G. Prout 3d, a senior official of the Pacific Fleet 
who attended an off-the-record budget presenta- 
tion by the navy chief in September. 

“The emphasis will be on demonstrating that 
we need more force structure to carry out our 
assigned roles and missions,” Admiral Prout 
wrote in the memo, which was obtained by The 
New York Times. “No more balanced budget. 
No more affordable force.” 

Defenders of Admiral Boorda say be is simply 
arguing for what the navy needs to keep ships 
steaming in Third World trouble spots. 

“My view is that force structure has shrunk 
below a prudent level for almost every class of 
ship,” said Admiral Henry H. Mauz Jr, who 
retired last month as Atlantic Fleet commander. 

But critics within the navy say Admiral 
Boorda is assuming future years will be as de- 
manding as the busiest times in the past 18 
months. 

Experts outside the Pentagon say that the 
Republicans’ fiscal conservatism, despite their 
talk of building up defense, is likely to keep the 
military budget on its downward slide. 

“Boorda is robbing from the future to cover 
the near term,” said Andrew F. Krepinevich, the 
director of the Defense Budget Project, which 
monitors military spending. 

“You have a navy that is talking about adding 
ships to its base. Meanwhile, the Defense De- 
partment admits it has a budget shortfall of 
somewhere between $40 billion to $50 billion for 
the next five years, and others say the shortfall is 
even larger.” 


Away From Politics 


• A Cafifontia tow requiring motorcyclists to 
ffgtrfaefanefc produced a 37.5 percent drop in 
fatalities from motorcycle collisions and 
saved as many as 122 Uves m xis first year, 
according to researchers at the University of 
California at Los Angeles. ■ 

• A General Mffls Inc. subcontractor w»s 

found Y. George Roggy gu?ty ofadu ^j£° 
food and misusing pesticides for sprang 
Dursban on oats bound for General Mills. 
The pesticide is approved for and widely used 
on other food products, but has not been 
approved for use on stored grains. 

• A tornado spawned by a tropical 
ripped through the retirement community of 


Barefoot Bay, Honda, killing at least one 
person. The deaths of two more people m 
Florida were blamed on the tropical storm, 
designated Gordon, that left at least 100 dead 
on its path through the Caribbean, 

• Jeny Rubio, the 56-yeawrfd fonnerpofitical 
actirist, remained in critical condition with 
injuries suffered when he was hit by a car 
whil e jaywalking in Los Angeles. 

• Six people who chained themselves to cars 
and a concrete-filled drum in Milwaukee were 
found guilty of violating a new federal tow 
against blocking access to abortion dimes. 
TBerix were the first people diaiwd under 
the law, which took effect in May. Each was 
convicted of a misdemeanor and faces ; up to 
six months in prison and a $10,000 fine at 
sentencing Feb. 13. 

LAT,WP,AP 


By Michael Weisskopf 

Washington Post Senate 

WASHINGTON — No one broke down the door to 
hire Rick Grafmeyer Iasi year when he decided to quit 
as minority tax counsel of die Senate Finance Com- 
mittee. In a town dominated by Democrats at every 
level, a former Republican congressional aide was in 
as much demand as a travel agent in a prison yard. 

What a difference an election makes. Only hours 
after the Republican sweep of Congress last week. Mr. 
Grafmeyer got his first feeler from a Washington law- 
lobbying shop. By week’s end. two more firms offered 
to bring him in as a full partner. 

For an the talk of sweeping political change, there is 
one immutable requisite of Washington: access to the 
lords of Capitol Hill. With Democrats calling the shots 
for most of the century’s second half, lobbying firms 
came to rely on ooe-time legislative and campaign 
aides for powerhouses with names like Dan Rosten- 
kowski, John D. Dingell and Robert C. Byrd, who 
brought with them a guaranteed entr& to their former 
bosses in exchange for lucrative private sector salaries. 

Now that the Democrats have been pushed to the 
sidelines, the firms are scouting for a new crop of 
persuaders who can promise the same access to the 
new Republican bosses who will run the congressional 
committees, launch the investigations, hire the budget- 
ary analysts and schedule the votes on legislation. 

“The perception is if the Republicans run both the 
House and Senate, you’re going to be better off with 
someone with Republican connections.” said Mr. 


Grafmeyer, who plans to stay in his job as tax attorney 
for Ernst & Young. 

In the worst position — and in the hottest pursuit of 
Republican staffers — are the Democratic firms that 
once seemed so well situated to cash in on their 
connections with the Clinton administration and Cap- 
itol HilL For the hundreds of Democratic aides who 
will soon be out of jobs, that means their future as 
lobbyists is grim: the last thing these firms need is 
more Democrats. 

Even Republican firms are looking for fresh blood 
to strengthen their representation in the Senate or to 
establish links to such new leaders as the probable 
House speaker. Newt Gingrich of Georgia. 

For such seasoned aides as Michael Tongour, chief 
counsel to the Senate minority whip, Alan K. Simpson 
erf Wyoming, the offers began coming in before the 
Nov. S election. Billy Pitis, top assistant to the outgo- 
ing House minority leader, Robert H. Michel of Illi- 
nois, has been courted for months. House associates 
said. And a former aide to Senator Orrin G. Hatch, 
Republican of Utah and probable chairman of the 
Judiciary Committee, claims lo have received “a job 
offer a day** from Democratic firms. 

Edmund J. Mihalski, the Republican staff director 
of Senate Finance until last December, received a call 
Wednesday morning from a Republican firm seeking 
to update us contacts with the new leadership. 

If there is any question why people like Mr. Mi- 
halski are in the catbird seal, consider the postelection 
experience of James H. Lake, a Republican lobbyist 


who worked as a senior consultant in George Bush s 
1992 presidential campaign. 

After a business downturn in the past two years of 
Democratic control of executive and legislative 
branches. Mr. Lake’s firm began hearing from new 
prospective clients in corporations and trade associa- 
tions. Negotiations already under way began to firm 
up, he said. 

“All of a sudden beginning last Wednesday people 
wanted to address the future,” Mr. Lake said. He 
added that businesses now see that “Republicans are 
now the leadership." 

. Thomas D. Parry, a key fund-raiser for Senator 
Hatch, said he returned to Washington this week to 
“pages and pages of phone calls” from potential cli- 
ents. A Republican sea change like this, he said, means 
“more activity, more prominence and more access” for 
Republican lobbyists like him. 

Two years ago. after Mr. Clinton’s election, many 
top Republican firms scrambled to change their iden- 
tity. Timmons & Co., for example, elevated as its 
board chairman William R Cable, an aide to former 
President Jimmy Carter. And it hired as vice president 
John S. Orlando, chief of staff of the House Energy 
and Commerce Committee under Mr. Dingeli. us 
powerful Democratic chairman from Michigan. 

Their roles are still important, according to Tom 
Korol ogos, the firm's president. 

“You don't shut off a DingelL” he said. “The 
Dingells now become the bomb-throwers. Fires will 
have to be put oul” 


Mexico Suggests U.S. Work With It on Migrant Flow 


By Tim Golden 

New York Times Servin' 

TUUANA, Mexico — With Mexican anger still 
building over the approval of a California ballot initia- 
tive to cut social services to undocumented immi- 
grants, President Carlos Salinas de Goriari has said 
Mexico and the United States will have to discuss a 
freer flow of migrant workers just as they negotiate 
free trade. 

Little more than two weeks before his six-year term 
is to end, Mr. Salinas argued that some sort of bilateral 
agreement on a greater legal flow of Mexican migrant 
workers northward is the only way that the problem 
might be controlled. 

‘7 am not proposing (hat millions of Mexicans go to 
the United States — we want them in Mexico.” Mr. 
Salinas said in an interview. “That movement is inev- 


itable, and it is better to order and regulate it than to 
confront it with administrative measures that are not 
going to stop it because the force of the economies is 
greater." 

Mr. Salinas said be did not intend his call for such 
discussions as a formal proposal. Barred by the consti- 
tution from seeking re-election, he will leave the presi- 
dency on Dec. I. 

But his ran arks are nonetheless an important indi- 
cation of Mexico’s growing frustration with the hard- 
ening American line against illegal immigrants, and 
his views closely reflect those of his hand-picked 
successor, Ernesto Zedillo Ponce de Le6n. 

Both men have assailed the immigrant-comrol ini- 
tiative in California, Proposition 187, as misguided 
and xenophobic, and both have said they would 
do what they can to protect Mexican migrants 


while helping to fight the measure in the courts. 

Having pushed for the North American Free Trade 
Agreement over the qualms of nationalistic compatri- 
ots, both men are also acutely sensitive to Mexicans' 
outrage at the ballot measure's sweeping approval in a 
year that was to have ushered in a new spirit of 
cooperation between Mexico and the United States. 

News of the vote and its possible effects has domi- 
nated newspaper headlines for days. Mexican protests 
have ranged from official rebuke at the United Na- 
tions to die bitter complaints by the Mexican winner 
of the New York City Marathon and the ransacking of 
a McDonald’s restaurant in Mexico City by a gang of 
masked youths. 

It has seemed to matter little that challenges to the 
initiative in federal and state courts could limit or 
delay its enforcement for years. 





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Page .4 


THURSDAY, NOVEMBER 17, 1994 


OPINION 


Reralb 


INTERNATIONAL 



eribunc 



PUBLISHED WITH THE NEW YORK TIMES AND T1IE WASHINGTON POST 


Big Smoke, Little Fire 


The leaders of 18 nations who gath- 
ered this week at the Asia-Pacific Eco- 
nomic Cooperation summit meeting in 
Indonesia arrived with lofty talk of 
achieving a sweeping agreement to stim- 
ulate economic growth on the Pacific 
Rim, which is already among the most 
vibrant economic regions in the world. 
Their final communique enshrines a no- 
ble objective — free trade and invest- 
ment oy the year 2020. Unfortunately, 
the APEC pledge fails to include a single 
substantive measure. 

The easy task is to commit to a vague 
goal a quarter-century away. The hard 
task, apparently too hard, is to take 
concrete measures that would challenge 
entrenched interests in each country. 

The APEC countries call for free 
trade, but do not say if that includes 
services as well as manufactured goods. 
The participants call on APEC's indus- 
trialized members to achieve free trade 
10 years earlier than the 2020 target for 
everyone, but do not say which coun- 
tries would be included in the fast lane. 
Does that leave South Korea or China, 
for example, in or out? 

Underlying the failure to produce a 
detailed agreement are fundamental dif- 
ferences among the group's members. 
The United States and Australia are 
both enthusiastic proponents of free 
trade, in part because both feared that 
the East Asian members might move 
without them. But Malaysia and others 
oppose free trade to varying degrees. 


Their problem arises in part from the 
fact that international trade rules, with 
one exception, prevent countries from 
extending preferential trade to each oth- 
er unless they also extend it to every 
other trading partner. The exception ap- 
plies only to countries that move all the 
way toward forming a free trade bloc — 
like the North American Free Trade 
Agreement between Mexico, the United 
States and Canada. 

The Asia-Pacific countries know that 
the U.S. Congress is not about to approve 
another NAFTA, especially if it includes 
low-wage bastions luce Malaysia and In- 
donesia, without insisting upon rules 
about environmental protection and 
working conditions. That prospect scares 
many APEC countries out of tying them- 
selves closely to the United States in a 
free trade zone. The conference post- 
poned dealing with fundamental difficul- 
ties like these for at least a year. 

Even though it could not create a free 
trade zone overnight, the APEC gather- 
ing could have made progress in specific 
areas. For example, the countries con- 
sidered, but failed to adopt, a code to 
open up borders to foreign investors. 

The trick for APEC is to turn the 
virtuous pledge into real progress. That 
will require aggressive action on small 
measures that would knock down tariff 
and nontariff barriers. Free trade among 
Pacific Rim countries could then become 
something more than rhetoric. 

— THE NEW YORK TIMES. 


Wrestling With Welfare 


Since Bill Clinton and the newly as- 
cendant Republicans agree on the need 
to change the welfare system, the as- 
sumption has been that it ought to be 
easy to get a reasonable bill. In fact, 
welfare could prove to be one of the 
most difficult issues before the new 
Congress. Not only are there deep dif- 
ferences between President Clinton and 
the Republicans, but multiple points of 
view exist within the Republican con- 
gressional majority. 

The biggest danger is that the reform 
battle will focus not, as it should, on 
how to help the poor out of dependency 
but rather on how to slash government 
aid to the needy, including children. 

Mr. Clinton would limi t welfare recipi- 
ents to two years on the rolls, during 
which they would participate in educa- 
tion and tr aining programs. After that 
they would be required to find private 
sector work or take public service jobs. 
The Republicans in the last Congress 
were divided into several camps. Some 
moderate Republicans expressed broad 
sympathy for the Clinton approach and 
proposed amendments that the adminis- 
tration might easily have accommodated. 
Another group supported a bill by Repre- 
sentative (soon to be Senator) Rick San- 
torum of Pennsylvania that resembled 
the Clinton plan in its emphasis on work, 
but effectively abolished aid for legal 
immig rants, a proposal that the adminis- 
tration rightly resisted, and cut other pro- 
grams for the poor. 

Senator Nancy Kassebaum has sug- 
gested sending more welfare responsibil- 
ities back to the states, while other Re- 


publicans want to end assistance to 
teenage mothers. The program in the 
House Republicans' “Contract With 
America'* includes a work program but 
would permanently deny cash aid to un- 
married mothers under the age of 18. 
Children bom out of wedlock would, in 
most cases, be barred from receiving any 
cash assistance where paternity is not 
established. And the contract would ef- 
fectively eliminate food stamps and a 
variety of other feeding programs, con- 
solidating them into a block grant 

Rationalizing state and local responsi- 
bilities by. for example, having the feder- 
al government take over Medicaid and 
the states take up all the burden of Aid to 
Families With Dependent Children is not 
inherently unreasonable. But this would 
be a large and potentially expensive 
change. On the other hand, it makes little 
sense simply to abolish all federal food 
programs, or to pretend that tossing all 
single iw-naff* mothers off welfare will 
lead to a costless revolution in “values.” 

Republicans will now be serving as 
governors of most of the largest states 
with the largest welfare loads. They will 
be providing a much needed counterpres- 
sure against the efforts of some of the 
more doctrinaire members of the party’s 
congressional wing to disclaim any feder- 
al responsibility for the problems of the 
very poor. Republicans have interpreted 
their victory as a mandate to reduce the 
size of government, which is fair enough. 
It is not a mandate to use “welfare re- 
form” as a cover for reviving the social 
policies of the 1880s. 

— THE WASHINGTON POST 


Rules for Airline Safely 


A study by the National Transporta- 
tion Safety Board and an investigation by 
New York Times reporters cast a disturb- 
ing light on airline safety rules and regu- 
lations in the United States. The safety 
board, focusing on commuter airlines, 
said that all but their smallest aircraft, 
and the people who fly them, should meet 
the same safety standards as major carri- 
ers. The Times’ investigation of USAir, 
America's sixth-largest carrier, indicated 
that even major carriers’ safety proce- 
dures can be flawed. 

Flying is still safer than driving to the 
airport. But two recent devastating crash- 
es — one on a comm titer airline, Ameri- 
can Eagle, and the other on USAir — 
have heightened public concern. 

In a draft report, the Safety Board 
recommended more than a dozen mea- 
sures to upgrade regulation for commuter 
airlines. The sweeping nature of its mea- 
sures makes the point that the commuter 
lines' rapid expansion has outpaced regu- 
lation. For instance, the boara found new 
aircraft being introduced faster than 
flight simulators are being developed to 
train their pilots; it recommended a rule 
that new planes not go into service until 
updated flight simulators are available. 

The board has no enforcement powers, 
but regulatory agencies, transit authori- 
ties and companies usually do as it recom- 
mends. The Federal Aviation Administra- 
tion has already said it win adopt ail the 
recommendations for commuter lines. 


Times reporters Douglas Frantz and 
Ralph Bhimenthal undertook their inves- 
tigation of USAir after its Flight 427 
crashed near Pittsburgh in September. It 
was USAir’s fifth fatal crash in five years, 
and the worst for any U.S. carrier since' 
1987. Some of the lapses they found in- 
volved too little fuel in a plane's tanks 
before takeoff. Others involved insuffi- 
cient training. In one case of too little 
fuel, and another involving a damaged 
wing, USAir personnel made false re- 
ports and were disciplined by the airline. 

USAir disputes the Times article. “We 
operate safely.” the company said, “and 
we will continue to do so.” It noted (hat it 
has been under “intense scrutiny" by the 
FAA for almost two years. But, given 
USAir’s record, any deviation from es- 
tablished procedure is unsettling. 

The Safety Board itself is operating 
under less than full power these days. 
Two of its five seats are vacant, and* a 
third member’s term expires on Dec. 31. 
President Bill Clinton’s failure to All even 
one of these slots threatens to leave the 
board without a needed quorum of three 
to issue reports and recommendations — 
and, more seriously, has raised concern 
that he may nominate Democrats who 
lost elections last week rather than men 
and women with technical qualifications 
for the board's work. His foot-dragging 
on these appointments diminishes the ef- 
fectiveness of a critical federal function. 

— THE NEK' YORK TIMES. 



International Herald Tribune 

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Welcome to an Exemplary Pact on . Uses ojfhe Sea, 

_ _ _ _____ rhp tmtrv offers the same naviea “ f mm developing countries t 


P ARIS — In an era of uncertainty in 
international affairs, characterized 
by a general disregard for the rule of law 
and the frequent threat or use of force for 
the settlement of disputes, the world 
community can celebrate the entry into 
force yesterday of the United Nations 
Convention on the Law of the Sea. 

Tbe convention is in all respects the 
most comprehensive international agree- 
ment ever achieved. 

Whether making new rules or, no less 
importantly, codifying customary law, it 
establishes a global regime for governing 
practically all uses and abuses of the 
oceans and their vast resources. 

Signed by all but a handful of govern- 
ments after more than two decades of 
negotiations, it can safely be considered to 
represent the current law of the sea, not- 
withstanding the additional requi r ement 
for formal ratification in some capitals. 

The treaty testifies to a broad consen- 
sus among both developed and develop- 
ing societies as to what activities are and 
are not permitted over, on and under 70 
percent of the earth’s surface. It punc- 
tures the myth, dear to ideologues of 
various persuasions, that North-South 
conflict is inevitable. 

The compromises that necessarily make 
up the treaty offer proof that the interests 
of individual nations can be advanced 


By Alan Berlind 

through rational dialogue and coopera- 
tion among many. The prescriptions for 
the peaceful settlement of disputes writ- 
ten into the agreement are without prece- 
dent in international affairs. 

Treaty provisions on navigation in in- 
ternational straits, archipelagoes and 
coastal zones assure the maneuverability’ 
needed by major naval powers: witness 
the strong public endorsement volun- 
teered recently by Pentagon leaders before 
Congress. This support is all the more 
nnriwff g twnriahi a as the United Slates relin- 
quishes a foreward- basing strategy in fa- 
vor of one requiring an ability to move 
forces and equipment to trouble spots 
swiftly and without political haggling. 

The strong affirmation of nigh seas 
freedoms was accomplished, moreover, 
with no loss to the equally crucial cause 
of protection of the marine environment. 
The treaty establishes a balance of re- 
sponsibility between seagoing and other 
coastal nations in a way that strengthens 
safeguards against pollution. With re- 
spect to marine scientific research, coast- 
al states are given control over activities 
off their shores, but the regime is permis- 
sive and conducive to rational planning 
by the scientific community. 


IT1P treaty offers the same navigational 
benefit to commercial 

SS£d tSr^tions by assuring 
Sb £5iSs and security to commercial 

?raS St sSf. Cr £e"?SSStL reflecting 
the needs of states in varying stages of 
SUtoSment. And the treaty promotes 

die conservation of fisheries ^rldwide 
so as to assure a continuing supply for 

■TSJSSSSSf commercial m- 

and some other industrialized states was 
withheld until this year owing to the 
claims of a small number of companies 
that any effective international controls 
or significant obligation to share the 
wealth would render mining the deep 
seabed uneconomic beyond the limits of 
national jurisdiction. Rather than con- 
tinue the cooperative search for solu- 
tions, the Reagan administration an- 
nounced that it would no longer take part 
in negotiations at all, an act of disdain 
that could well have provoked the inter- 
national community to go it alone. 

Instead, conscious of the need for uni- 
versal participation in an agreement of 


this magnitude, senior UN officials and 
diplomats from developing countries de- 
cided to seek ways to address the con- 
cerns expressed, even in the willful ab- 
sence of the principal grievanL No doubt 
aware as well that the argument that had 
poisoned the discussions for so many 
years would prove in the end to have 
been largely theoretical (that is, that deep 
seabed mi ning might never produce the 
b onanza so loosely heralded), .they re- 
pressed their own penchant for^ ideologi- 
cal bombast and found solutions that 
brought the United States and others on 
board just in time for entry into force. 

With the changes that have been made 
to meet U.S. objections, ratificationin 
Washington should be a formality. The 
new Republican majority, however, has 
warned the president about the conduct 
of foreign policy, and Senate Foreign 
Relations Committee bearings, with Jes- 
se Helms in the chair, will not be easy. 
One can only hope that a treaty that so 
clearly serves the interests of the United 
States and the world at large will not fall 
prey to partisan considerations. 

The writer was director of the Office of 
the Law of the Sea at the U.S. Stare 
Department from 1977 to IPSO. He con- 
tributed this comment to the International 
Herald Tribune. 


f 


Ornery Politics? The French Have a High-Toned Version on Show 

or . . _ xr v 

By Jim Hoagland 


W ASHINGTON — Atten- 
tion. you Americans who 
feel that your own politics took a 
nasty and personal turn in the 
recent midterm elections. Check 
out the France aisle. Vous ain't 
seen nothing yeL 
The escalating campaign to 
choose a successor to President 
Franqois Mitterrand took a turn 
worthy of Balzac on Saturday 
when Prime Minister Edouard 
Bahadur’s foreign aid minister re- 
signed. He was driven from office 
by leaks about alleged corruption 
and an impending indictmenL 
Mr. Balladur immediately 
named as his new aid minister 
Bernard Debre, the head of the 
Cochin Hospital’s urological unit 
in Paris. An unusual choice — 
except for two details. One: Dr. 
Debre and his unit operated on 
Mr. Mitterrand for prostate can- 
cer in 1993 and again earlier this 
year. Two: Mr. Balladur is the 
leading candidate to succeed Mr. 
Mitterrand. 

“In the Balladur government 
now sits someone who probably 
knows more than anyone else 
about the president's illness,” the 
Financial Times noted in tones of 
surprise in its report about Dr. 
Debit, who is a Gaullist member 
of the National Assembly. 

Mr. Mitterrand's faltering bat- 
tle against cancer gives French 
politics a morbid and urgent tone. 
The president's terra ends next 
May, and formal campaigning is 
due to start in March for the May 
7 vote. But his illness has provoked 
furious jockeying among the con- 
servatives, who expect an easy vic- 
tory over Mr. Mitterrand’s demor- 
alized and disorganized Socialist 
Party. His early departure through 
resignation or death would trigger 
a quick 60-day campaign for a new 
seven-year term. 

The battle for the presidency is 
fought at close range by people 
who know each other's strengths, 
and weaknesses, from long and 
intimate association. That makes 
it particularly bitter, and partic- 
ularly French. 

Mr. Balladur. a leader of the 
center-right coalition that took 
control of the National Assem- 
bly away from the Socialists 18 
months ago. faces only one seri- 
ous rival. That rival is the Gaullist 
leader Jacques Chirac, who made 
Mr. Balladur prime minis ter and 


now seeks to destroy him. Mr. 
Chirac claims publicly that Mr. 
Balladur has reneged on a promise 
to step aside for him. Balladur 
supporters suspect that Mr. Chir- 
ac’s forces have led the campaign 
of leaks and investigations that 
have forced three of Mr. Bahadur's 
cabinet ministers from office. 

Mr. Balladur and Mr. Chirac 
come from the same party and the 
same ideological background. 
They have in fact been trusted 
associates in a long mutual climb 
to power. Their war is civil war, 
marked by the betrayal, intrigue 
and murderous rages that only 
struggles pitting brother against 
brother can bring. 

That is the particularly bitter 
part. How about the particularly 
French? Politics, business and in- 
tellectual life in France are run by 


a small, very well-trained and in- 
telligent elite. No national leader 
could ever belong to a “counter- 
culture elite.” The elite is the ex- 
pression of the national culture. 

France is meritocracy run 
amok. The best and brightest are 
winnowed out young by national 
testing and then channeled into a 
handful of elite universities that 
prepare them for battle in careers 
that the state controls or affects 
with its decisions. Suppose Bill 
Clinton and Newt Gingiich both 
had been Rhodes scholars, gone 
to Yale Law School dated Hilla- 
ry and then achieved what they 
have achieved in politics. That 
would not be unusual in France. 

France is a national nervous 
system — a brain sending signals 
down the spinal chord to the gan- 
glia of local government and 


commerce. The French case illus- 
trates how national character is 
formed and expressed. 

Germany is also a case in point, 
functioning as a national factory. 
Its political and economic institu- 
tions aD cooperate to make indus- 
trial production and prosperity 
an overriding national goal. 

And America? The midterm 
campaign showed that America 
has taken the characteristics of a 
national echo chamber. Self-pro- 
motion has become the American 
art and imperative. Instant, intru- 
sive 24-hour electronic media and 
communications have elimina ted 
time and temptation for reflec- 
tion. Life passes much of the elec- 
torate in a blur or a shout, and the 
response is bafflement and then 


anger at the polls. 
One F ' 


bit of evidence for that hy- 
pothesis is offered by Reva Hol- 
comb of Miami. Interviewed on 


election day by The New York 
Times, she said she voted for Re- 
publicans because Bill Clinton 
“has been in power too long." 

We now have the Holcomb 
codicil to Andy Warhol’s defini- 
tion of fame in the television era. 
Perhaps we all get to be president 
for 15 minutes. Or each of us gets 
a turn to be judge in the O. J. 
Simpson trial and gets national 
“face time” that way. 

Americans have had to gel to 
know Mr. Clin ion in office. That 
has brought surprises, impatience 
and finall y hostility from the Reva 
Holcombs. It would not have hap- 
pened that way in France, where 
the candidates and the public get 
to know each other all too well 
before an election. The French 
take their candidates the way they 
take their Scotch — straight with 
no illusions on the side. 

The Washington Post. 


Beware , Newt’s Mean Crowd, die Them Are Also Us 


N EW YORK — This is my new motto: 

Keep A1 Gore Healthy. Because when 
Newt Gingrich becomes speaker of the 
House, that puts him third in the line of 
presidential succession, after Mr. Gore. And 
that is a terrifying prospect for the moral 
compass of the United States. 

Not because Mr. Gingrich is a Republican, 
or a conservative, but because in only a week 

If women or blacks or gays are 
fundamentally r not like us,* it is 
easy to accept discrimination. 

he has become the most powerful public pur- 
veyor of the politics of exclusion, what might 
be thought of as the cult of otherness. 

Otherness posits that there are large groups 
of people with whom you have nothing in 
common, not even a discernible shared human- 
ity. Not only are these groups profoundly dif- 
ferent from you, they are also, covertly, some- 
how less: less worthy, less moral, less good. 

This sense of otherness is the single most 
pernicious force in American discourse. Its 
not-like-us ethos makes so much bigotry pos- 
sible: racism, sexism, homophobia. It divides 
the country as surely as the Mason-Dixon line 
once did. And it makes for mean-spirited and 
punitive politics and soda] policy. 

Only the deepest sense that they are not 
like us makes it possible to decree, as Mr. 
Gingrich has, that one way to reform the 


By Anna Quindlen 

welfare system is to deny aid to the children 
of mothers under 21 and build orphanages if 
they are rendered destitute. 

It is not even possible to pretend that there 
are enormous savings in this plan, for anyone 
who has compared the cost of institutional 
and home care in any area knows that the 
latter is much, much less expensive than the 
former. This is public atonement for the sins 
of teenage pregnancy and poverty at the ex- 
pense of little kids. 

If you think of these mothers as people very 
much like you in some esseatial way, if you 
think of these children as like your own, the 
proposal falls apart, repellent in its moral 
frigidity. But if they are other, different, 
above all less, the mental leap to the orphan- 
age is far less taxing. If immigrants are not 
tike us in some basic fashion, it is easy to 
accept discrimination against them. Believing 
that only “they” get the disease makes it 
simpler to slosh AIDS funding. 

Mr. Gingrich began milking the politics of 
exclusion long before the election returns 
were in and be dismissed President and Mrs. 
Clinton as “counterculture.” Meeting with a 
group of lobbyists, natch, he said he would 
seek to portray Clin ion Democrats as “the 
enemy of normal Americans.” In a speech 
several weeks ago. he described America as a 
“battleground” between men of God, like him. 
and the “secular anti-religious view of tbe left.” 

Mr. Gingrich’s mind is not far-reaching 


enough to encompass those of us whose poti^ 
tics are to the left of his and vet who are 
deeply religious, who raise our children with 
discipline and yet are proud to call ourselves 
liberals. It is so much easier to stereotype. 

It is troubling that much of this comes 
cloaked in a patina of conspicuous Christian- 
ity. Anyone with even a passing knowledge of 
the New Testament knows that its message is 
charity, love for our fellows, inclusion. The 
American Catholic bishops, meeting in Wash- 
ington, took appropriate note of this. "There 
has to be personal responsibility.” said the 
auxiliary bishop of Baltimore, John H. Ricard. 
“We also believe the society has a responsibil- 
ity for those who cannot care for themselves.” 

There are some bright spots on this gray 
horizon, quite aside from the fact that A1 
Gore is a young and vigorous man. One is 
that a little of Newt Gingrich goes a verv long 
way. and that soon even his fellow Republi- 
cans mav be tired of his bombast and his love 
affair with the open microphone. 

The other is that he has inspired more 
moderate Republican voices, those not satis- 
fied to stand mute as the party is driven into 
the rallow ground of meanness, the purview 
of the schoolyard bully, picking off the weak- 
er.,? 116 by one. Governor Christine Todd 
whitman of New Jersey sounded their coun- 
terclanon call: "Cm taxes, cut spending and 
replace programs that fail with government 
that works. Above all, include everyone." 
Include everyone. As I say at the end of ray 
left-leaning prayers, amen. 

The New York Times. 


Northern Ireland: For a Political Settlement, Consider Condomsni 


P ARIS — The situation in 
Northern Ireland is the most 
favorable in a generation, with the 
guns of the bard men on both sides 
silenced for now. and the parties 
all talking. However, are they talk- 
ing about tbe right things? 

It has once again been shown 
that violence pays; thus there is 
serious reason to fear that it will 
return. Northern Ireland would 
not have reached the point it is at 
today had the IRA not pushed 
aside the peaceful civil rights pro- 
tests of the Northern Catholic mi- 
nority, which began in 1968, and 
begun its terrorist campaign 
against Britain and the authori- 
ties in Northern Ireland. 

The IRA would not have agreed 
to end its violence had Loyalist 
terrorists not repaid the IRA in 
kind for its killings. There have 
been more murders this year by 
Loyalists than by the IRA. 

One may add that none of the 
violence was necessary, if all the 
Catholics wanted was equal treat- 
ment in employment and before 
the law. The Northern Ireland 
government under Terence 
O'Neill bad already begun such 
reforms when the civil rights 
movement emerged. He faced op- 
position from the Protestant ma- 
jority. but this was ultimately un- 
sustainable, Ulster voters being a 
small minority in the overall Brit- 
ish electorate. The Catholics’ po- 
litical struggle could eventually 
have been won peacefully. 

The IRA has wanted power — 
power over the six northern coun- 
ties of Ireland, to force them into 
union with the Republic of Ire- 
land, against the will of those 
counties’ Protestant majority 
population. The majority in 
Northern Ireland want to remain 


By William Pfaff 


citizens of Britain. The Loyalist 
terrorists wanted to perpetuate 
Protestant power in the six coun- 
ties and also to dictate their own 
terms of rule to London. 

This is the essential conflict, 
and it remains. It is the subject of 
negotiations today, but presents 
extreme difficulties, despite tbe 
constitutional concessions that 
have been proposed by the Irish 
government in Dublin, and the 
compromises which Prime Minis- 
ter John Major’s British govern- 
ment seems willing to make. 

There is one course of compro- 
mise that does not today seem to 
be under consideration, certainly 
not in public. This is to form a 
British- Irish condominium. A 
Paris international lawyer, John 
Whitbeck, has for many years 
been trying to persuade Israelis 
and Palestinians to make use of 
this constitutional arrangement 
to solve their problems. I think u 
fits Northern Ireland even better 
than the Middle East. 

The practical model can be 
found in the condo minium that 
governed the New Hebrides is- 
lands, in the South Pacific be- 
tween Australia and Fiji, from 
1906 until 1980 — when the New 
Hebrides became ihe indepen- 
dent Republic of Vanuatu. 

The New Hebrides Condomin- 
ium was shared rule by Britain 
and France, in which the separate 
interests of British, French and 
New Hebrideans were all given 
constitutional guarantee. British 
and French resident commission- 
ers governed the islands, acting 
jointly in some matters, and sepa- 
rately in others that concerned 
only their own nationality. 


There were parallel and sepa- 
rate education systems, one of 
them French, the other British, 
each subadized by the condomini- 
um’s own government There were 
separate British and French health 
services, each with their own hos- 

K ls and clinics, but a single rural 
th service run by the condo- 
minium itself. There were condo- 
minium courts and French and 
English national courts. 

This obviously was a colonial 
system, whereas Northern Ire- 
land is a democratic society and 
fully part of the United King- 
dom. However, there are lessons 
in what successfully was done in 
the New Hebrides. Among these 
are the following, which I suggest 
as contributions to the process of 
finding a constitutional solution 
for Northern Ireland rather than 
as normative. 

Let us suppose that it were 
agreed that the six Northern 
counties were in the future to be 
simultaneously a part of the Irish 
Republic and of the United King- 
dom, with each citizen free to 
choose which nationality he or 
she wished, and which passport to 
carry, Irish or British, and in 
which of the two countries' na- 
tional elections each would vote. 

Northern Ireland’s local gov- 
ernment could be assured by a 
local authority under a Northern 
Ireland parliament or assembly 
for which the residents of both 
nationalities would vote. 

External security wouid jointly 
be guaranteed by Ireland and 
Britain, and internal security bv a 
Northern Irish police under shared 
British and Irish government au- 
thority. I would think a parallel 


system of courts appropriate, with 
those charged with crimes sent for 
judgment in the national court of 
the government of the person’s 
elected citizenship. Education and 
health services might be provided 
by parallel systems, as in die New 
Hebrides case, or by the Northern 
Irish authority itself. 

This would seem to me an orig- 
inal way to deal with the other- 
wise intractable problem of polit- 
ical power in the six counties. It 
gives the Protestant majority per- 
manent British citizenship,' Brit- 
ish courts, British education. Brit- 
ish careers and a British guaran- 
tee of civil and religious liberties. 


um 

It gives the Catholic and repub- 
lican minority Irish citizenship, if 
they want it, and Irish govern- 
ment guarantees of their rights 
and security. It gives Ireland itself 
a form of unify that acknow- 
ledges and yet solves its central 
histonca! problem, that of the 
conflicting claims and loyalties of 
the overall Catholic majority and 
or the Protestant minority. 

It would bring Ireland and 
Britain closer together, in cooper- 
ation. to settle the conflict that 
has marked their tragic history 
and their peoples for 800 years. 

International Herald Tribune. 

Angeles Times Synd icat e. 


ES Ot R PAGES; 100. 75 AND 50 YEARS AGO 


1894: Oriental Outr age 

PARIS — [The Herald said in an 
editorial:] Reports circulated a 
few days ago have been con- 
finned. We are to-day face to face 
with a new edition of the Bulgari- 
an atrocities, only that the scene 
has shifted to Asia Minor. Thou- 
sands of women have been sub- 
jected to the worst of outrages, 
and have been massacred; whole 
villages have been looted and 
burnt. If we were still in those 
clays when Europe wished to in- 
terfere in Oriental matters and 
protect the Christians, we might 
be on the eve of energetic action, 
but everything will end with an 
exchange of diplomatic notes. 

1919: Reds in Schools 

NEW YORK — [From our New 
York edition:] The insidious rev- 
olutionary doctrines of Lenine 
and Trotzky are being used by 


public 
lison the 
children 


certain teachers in the 
schools of the city to po; 
minds of the school < 
against American institutions 
and to create a spirit of distrust 
among the younger generation. 
Thjs fact was revealed yesterday 
rNov. 16 ] by Samuel A. Berger, 
Deputy Attorney General, who 
discovered the names of many 
school instructors on the rolls of 
the Communist party. 

1944: Allied Offensive 
SUPREME HEADQUAR- 
lfcRS, Allied Expeditionary 
Force, Prais — [From our New 
York edition:] The Allies 
launched a general offensive in 
(ne west [°day ? with the veteran 
united States 1st Army and the 
long-hidden U.S. 9th joining 
tour other armies in attacks 
along a 300-mile front against 
Germany and its approaches 
from Holland to the Alps. 


* 



1 



p* fj&o 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 

OPINION 


Page 5 


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QAN FRANCISCO — We 
3 might have expected it in 
France, in Germany or in Ja- 
pan: But is America — die land 
built and sustained by immi- 
grants —also becoming intoler- 
ant of than? Is that the message 
of the resounding vote in Cali- 
fornia in favor of Proposition 
187, which. seeks to end illegal 
immigration- by denying gov- 
ernment- services to illegal im- 
migrants and their children? 

Americans, to be sure, have 
never really liked immigrants, 
at least not at first 
Today, Americans insist that 
they are riot ami-immigrant: “It 
is just the illegals we don't 
want* . Politicians warn that 
“the illegals” are coming for 
welfare dollars. But kids on the 
Mexican side of the border will 
tefl you that they come in search 
of jobs. They do not quote 
Dicmas Jefferson, nor do they 
know the Bill of Rights. There is 
only a rumor of work. - 
Illegals are an embarrass- 
ment to the Mexican govern- 
ment They are an outrage to 
suburbanites in San Diego, who 
each night see the Third World 
^r unn i n g through their rose gar- 
' dens. Illegals are often adoles- 
cent, desperately reckless, and 
disrespectful of American cus- 
tom and law. They are also 
among the most modern people 
in the worid. 


8 ^ the Bravest of All 

fid iMn ^ Richard Rodriguez village. You break your mod 
i_ er’s heart. The immieraol is £ 


Decades before wealthy 
Mexicans decided to enroll in 
U.S. Ivy League coDeges. Mexi- 
can peasants grew accustomed 
to thousands of miles of free- 
ways and dirt roads, knew two 
currencies, and gathered a 
working knowledge” of Eng- 
lish to go with their Spanish. 

Before professors in business 
schools were talking about 
global economics, illegals knew 
all about iL Before fax ma- 
chines punctured the Iron Cur- 
taut, “coyotes” knew the most 
efficient way to infiltrate South- 
ern California. Before business- 
men flew into Mexico City to 
sign big deals, the illegal was 
nicking peaches in the fields of 
California or flipping pancakes 
at the roadside diner. 

We can say about today's il- 
legals exactly what nativists a 
century ago said about the Fll»« 
Island crowd: “They don't as- 
similate; they’re too foreign; 
they come to take, not to give; 
they are peasants who lower our 
national I.Q." 

The notion of the “legal im- 
migrant” allows us to forget 
that all immigrants are outlaws. 
Immigrants violate custom, 
they assault convention. To be 
an immigrant is to turn your 
back on your father and your 


village. You break your moth- 
er’s heart. The immigrant is as 
much a scandal to his ancient 
mountain village as to subur- 
ban Los Angeles. 

Early in this century, Mexico 
passed laws to keep O.S. busi- 
ness interests out. Lately, Presi- 
dent Carlos Salinas de Gortari 
has begun to denationalize 
Mexican business and open his 
country to U.S. capital. Ameri- 
cans exclaim, “At last, Mexico 
has a truly modem leader!" But 
the Harvard-educated presi- 
dent of Mexico was preceded to 
the United States by genera- 
tions of peasants. 

In the 1920s, when Mexico 
was trying to seal itself off from 
the United States, Mexican 
peasants were illegally making 
their way north. Every few 
months, illegal workers would 
return, by choice or by deporta- 
tion. They returned to their 16lh 
century villages with seductive 
rumors of America. More than 
Pancho Villa, more than Za- 
pata, the illegal immigrants be- 
came the great revolutionaries 
of Mexico. They Americanized 
its tiniest villages. 

Today, the jet airplane 
makes the world convenient to 
U.S. business executives and to 
middle-class tourists. We 
Americans assume our ability 
to roam where we will, making 
deals or taking pictures of each 


LETTERS TO THE EDITOR 


Obvious to Ti nman 

Regarding “Story Behind the 
Bomb” ( Letters, Nov. 8): 

A. J. McEyoy quotes Major 
General Leslie Groves as saying 
in March 1944 that the Soviet 
Union was the main target of 
the Manhattan Project. The 
general, who headed the Man- 
hattan Project, may have said 
quite a few other thing s as weD; 
out when the preyed was start- 
ed the Soviet Union not only 
was seen as an ally, but it 
looked to everybody as if it 
were about to lose the war and 
not be a danger to democracy. 

As for the vague statement 
that Japan was suing for peace, 
it may be recalled that Germa- 
ny had earlier put out feelers to 
that effect (both Hermann GSr- 
ing and Heinrich Himmler had 
sent agents to Stockholm early 
in 1945). However, in the face 
of certain defeat the Germans 
had fought on to the bitter end. 

With that as ah example, plus 
the terrifyingly mounting losses 
of American lives at 'Saipan; 
Peleliu, the Philippines and 
Okinawa — all battles where 
Japan did not have a hope, but 
continued to fight tenaciously, 
virtually to the last man — it 
must have seemed obvious to 
President Harry Truman what 
he had to do once the bomb was 
ready. By that time the Soviet 
Union, victorious, had already 
become an obnoxious “ally”; so 
it is lfitely that some people 
would consider the side-effect 
of impressing Stalin a bonus. 

Against the argument that 
the oornb would never have 
been used against white Ger- 
mans,, one can point to Ham- 
burg, Cologne and especially 
Dre sden, which during the infa- 
mous saturation bombings of 
February 1945 suffered more 
dead than Hiroshima. 

JUST ROELE. 

- Orvilliers, France. 

ATooFrequent Flyer 

Regarding “Humbled. Hound- 
ed and Confined to Foreign Poli- 
cy and Defense ” (Opinion, Nov. 
11) by Jim Hoagland: 

Mr. Hoagland'5 analysis and 
prognosis of the Clinton admin- 
istration's prospects, following 


the midterm elections, is spot- 
on. What is frightening in such 
situations is the refuge that do- 
mestically beleaguered political 
leaders take in plunging into 
foreign policy issues (and, in 
President Bill Clinton's case, 
perhaps also defense). 

This phenomenon is not con- 
fined to the United States. What 
makes the situation worse in Mr. 
Clinton’s case is that he is still a 
“rookie” on die international 
political scene. What have been 
hailed as foreign policy “success- 
es” (Middle East North Korea, 
Haiti) makes one shudder at the 
thought of what foreign policy 
“failures” would look like. 

KARLH.PAGAC. 

London. 

The Delors Record 

Regarding ", For the French 
Succession, Delors Seems a 
Sound Bet ” (Opinion, Nov. 12) 
by WiUiam Pfaff: 

Mr. Pfaff fails to mention 
that Jacques Delors was finance 
minister in President Franqms 
Mitterrand’s first government 
after his election in 1981, In 
that function, he applied most 
of Mr. Mitterrand's demagogic 
campaign promises and 
brought die country practically 
to its knees economically. 

Apart from being the worst 
finance minister France has had 
since it became a republic, and 
putting aside his technocratic 
experience in Brussels, where 
his goal has always been to sup- 
port Germany’s pro-federation 
views, Mr. JDelors’s achieve- 
ments are nonexistent. I am sur- 
prised that Mr. Pfaff, whose 
columns are generally noted for 
their superb quality, did not re- 
fer to Mr. Delors’s past 

ALEXANDRE de COURISS. 

Paris. 

A Peace Built on Sand 

Regarding “ For Israelis, 
Maybe the Jordan Treaty Is 
Good News ” (Opinion, Nov. 4) 
by Abraham Rabinovich: 

I commend Mir. Rabinovich’s 
accuracy in stating that “the Ar- 
abs continue to see Israel as an 
alien intrusion.” This explains 
why the Arabs “view with hostil- 
ity” Israel’s economic role in the 


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A Nasty Surprise in California 




■ 



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t\ - 


region; they would rather be 
economically self-reliant. 

However, without any refer- 
ence to the occupation and the 
status of Jerusalem, Mr. Rabin- 
ovich’s argument that “with 
time, familiarity will make Isra- 
el seem a more natural pan of 
the region” becomes markedly 
defective. The key issue is that 
Israel is making peace with un- 
elected dictatorial regimes, not 
with Arab peoples. 

To make “peace” in this fash- 
ion is like stitching shut an open 
wound with ail the dirt still in- 
side. The sooner it is opened 
and cleansed, the better for the 
region. In other words, until 
Arab democracy is established. 
Israeli occupation reversed. 
Jewish settlements dismantled 
and Jerusalem restored to Arab 
sovereignty, any notion of a 
lasting peace will be nothing 
more than wishful thinking. 

SALAHEZZ. 

Oxford. England. 

Unkind to Animals ! 

Regarding "Tally Ho, but ! 
Spare the Fax ” (American Top- 
ics, Nov. 5): 

The report of a fox bnnt that 
spares its foxes at the last minute 
highlights a point often over- 
looked by people concerned 
with animal welfare. It is not just 
the killing but the terrorizing of 
animals that is crueL A priority 
concern should be the condi- 
tions under which millions of 
animals are led, or dragged, to 
death in slaughterhouses. 

H. S. ROGERS. 

Gaunrier, France. 

Hdpfal Look at Disney 

Regarding “ Euro Disney 
Throws the Book Away” (Busin- 
ess/Finance, Oct. 20): 

Barry James's article was re- 
freshing. For several years we 
UjS. businessmen have seen the 
not-too-subtle bashing of Dis- 
ney by the British press and 
muc h of the French m e dia. All 
businessmen sympathize with 
other executives working out a 
difficult pioneering initiative. 
Your report was helpful. 

BERNARD W. POIRIER. 

Paris. 


other in our Bermuda shorts. 

A Californian I know com- 
plains that a village in Ecuador 
is becoming more and more 
Americanized. Each year, he 
sees the change. 

F tell him, if he’s so worried 
about the change then maybe 
be shouldn’t travel so much. 

We Americans have become 
like Shakespeare’s Coy Mistress 
— the Dark Lady of the Son- 
nets. We stand at the window, 
we bat our eyelashes. We ro- 
mance the world. We advertise 
our beauty and our glamour; we 
display our happy white teeth. 
And then we wonder why the 
world is lined up at our door. 

Though Californians voted 
for the anti-immigrant measure 
by a wide margin, that will not 
in tbe end decide illegal immi- 
gration. For we all live in a 
world where economics over- 


lap, where we no longer know 
where our automobiles are as- 
sembled, where billboards stoke 
adolescent imaginations. We 
are headed for a century where 
tbe great question trill be this: 
What is a border? 

The illegal immigrant is tbe 
bravest among us. The most 
modem among us. The prophet. 

“The border, sen or . . . T’ tbe 
illegal immigrant sighs. 

Tbe border is an inconve- 
nience, surely. A danger in tbe 
dark. But the border does not 
hold. The peasant knows the 
reality of the world, decades be- 
fore the California suburbanite 
will get the point. 

Mr. Rodrigues, a leading 
Mexican -A merican writer, is au- 
thor of “ Days of Obligation .” 
This comment was distributed by 
New Perspectives Quarterly. 


L OS ANGELES —On the ra- 
t dio the morning after the 
election, F heard an interview 
with a teacher urging children 
not to be afraid to go to schooL 
It was a disturbing way to 
learn that Proposition 1 87 — the 
sweeping California statute that 
would deny health care and edu- 
cational services to illegal aliens 
and facilitate their deportation 
— had passed by a landslide. 

Over breakfast at a Mexican 
cafe on Sunset Boulevard, I 
read the election returns. The 
waitress, usually a chatterbox, 
was subdued. 1 looked up to see 
her studying the headlines of 
my newspaper, about Proposi- 
tion 187. She frowned and I 
immediately turned the page. 
There is no way to tell, at 
a glance, who is illegal — or 
how somebody voted. 

That afternoon, I waited for a 
friend, originally from Guada- 
lajara, who has been renovating 
my place. When he didn't show 
up, I paged him, only to discov- 
er that he was already at work 
under the house. 

“Why didn't you stop in?” I 
asked. “Didn't’ you see my 
truck?” he replied. We both 
laughed uncomfortably. 
Strange how quickly, in such 
times, people stop looking each 
other in the eye. 

During the campaign, you of- 
ten heard that Proposition ]8Ts 
sponsors supported it even 
though it was probably uncon- 
stitutional. (The Supreme 
Court has already overturned a 
Texas law that denied schooling 
to tbe children of illegal aliens.) 

But it is now clear that many 
people were comfortable voting 
for the proposition precisely be- 
cause it appeared unconstitu- 
tional. It was simply a way to 
send Washington a message. 

But tbe national elections 
made Washington a different 
place, and overnight many Cali- 


By Katie Leisiunan 

femians began asking, “Could 
the Supreme Court actually up- 
hold the statute?” as though 
that possibility had never en- 
tered their minds. 

This sort of double-think is 
not limited to 187s supporters. 

Last week the Los Angeles 
City Council voted not to en- 
force most of ‘is provisions, as 
if to convey tiat Californians 
really hadn’t meant to enact 
what they did. 

Only one council woman, who 

MEANWHILE 

herself had voted against 187, 
suggested that just maybe the 
Council didn't have any business 
overruling the electorate. 

Tune and again, it seemed no 

One Was thinking thing s throu gh 
to the end. Unsurprisingly, be- 
cause the “end” — real or theo- 
retical, justified or not — meant 
suffering and disorientation for 
millions of families. 

Uncritical thinkin g has pre- 
vailed throughout. For months. 
Governor Pete Wilson said that 
Proposition 187 would force 
Washington to assume the Cali- 
fornia taxpayers* burden of ser- 
vices to illegal immigrants, esti- 
mated at $3 billion a year. 

The argument never made 
sense. If the bill passed, services 
would be terminated and no- 
body would pay for them, a 
point Newt Gingrich has 
stressed even as he calls for tbe 
next step: a deportation system 
that would be “very efficient 
and very fast.” 

This is talk to make many 
hearts skip a beat, and it has. 
The mother loo frightened to 
bring her son in for lead-poison- 
ing treatment at a neighborhood 
clinic. The pregnant woman 
scheduled for a prenatal exam. 


who won’t leave her bouse, cer- 
tain that a van outside is an 
immigration service vehicle. 

The stories in the press are 
sickening. And yet to then read 
that the dime sent a taxi to fetch 
the woman provokes another re- 
sponse: A taxi? Are they kid- 
ding? Who’s paying for it? 

Budgetary questions like 
these bolstered tbe pro- 187 
case. But equally compelling 
economic points on the other 
side never came through. 

What might have happened, 
for instance, if the election had 
taken place at a major harvest 
limp , when half the field force is 
made up of ille gal aliens? 

Farmworkers took part in 
freedom inarches and scattered 
demonstrations, to no effect. A 
series of harvest strikes would 

have been a different matter. 
Latino leaders often resort to 
lyrical reminders of how hand- 
somely Mexicans treated those 
who stole California from them. 
This kind of cant goes nowhere. 

This summer, the talk was 
about whether the OJ. Simpson 
case might send rioters back into 
the streets. Such worries seem 
frivolous compared to what has 
actually happened with the pas- 
sage of Preposition 187. 

While hard-liners seem to be 
getting what they want and cavil 
libertarians are outraged, mil- 
lions of voters in the middle mil 
now have to come to terms with 
the message they really did send 
— and it wasn't to Washington. 

We didn’t want to hurt any- 
one. We just wanted to scare 
you. Well, they have succeeded, 
and in the process — a poten- 
tially harrowing and irrevers- 
ible one — they are about to 
scare themselves. 

The writer is a national corre- 
spondent for The Atlantic Month- 
ly. She contributed this comment 
to The New York Times. 









Join an art movement in Madrid. 


^Y&$5S 

Recogp|&.$&y faces in the crowd? A stroll around Madrid’s galleries is always 




a socifck$?c'asion. We call it the “Paseo del Arte”. Start with the 
old the Prado. Lunch nearby. 

BMW 

Then to the Reina Sofia, home to 

j*£T ^ el P r " ao 

Pic^sO^ ^ffirnica w . Time , for a little shop- 

1 .ViL' suhdii musics p£ Madrid rASto del rftADO l 

piBa^nro^te. to the Thyssen Bornemisza, one of the world’s largest 

-.Vj 4 - s ‘*5 

pri^te- eplteSSons. Finally, stop at a local bar to discuss life, and art. 



CSffpk 

Passion 
for life 


• St ..: 'Ifji’l 



Page 6 


EMTERIVATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 


With Conservatives Under a Cloud 9 French Socialists Smile Again 

S t 


By Alan Riding 

Ne» York Tima Semce 

PARIS — Only weeks ago. French conservatives 
looked certain to win next spring's presidential elections. 
Now, in a turnaround that could bring cheer to American 
Democrats after their drubbing in this month's midterm 
elections, France's Socialists again have a chance. 

Strangely, though, the Socialists have done little to 
achieve this. Rather, in what might also sound a warning 
to triumphant U.S. Republicans, the Socialists have 
bounced back here simply because French voters are be- 
ginning to blame the right for what is wrong with France. 

A Socialist, Francois Mitterrand, is still president but, 
since parliamentary elections in March 1993, conserva- 
tives have run both the government and Parliament 
Today, increasingly judged by their own record, they can 
no longer count on bitter memories of the last Socialist 
government to help them. 

Ideology seems to have little to do with this change of 
mood. Rather, many Frenchmen feel that the country is 
still drifting, that the political establishment remains 
more interested in its own welfare than in that of France. 
As a result, whoever is in office risks facing their wrath. 

Last year. Prime Minister Edouard Balladur inherited 
an economic recession, but he repeatedly promised that 
France would be on the mad to recovery by now. But the 
economy remains sluggish, with unemployment still at 
12.7 perwnt of the work force. 


Then there is corruption. Two years ago, it was the 
Socialists, who were besieged by "corruption scandals. 
Now it is the turn of the conservatives. Three members of 
Mr. Bahadur's cabinet have resigned after coming under 
judicial investigation for corruption, and one is in jail. 

But the conservatives have perhaps most harmed them- 
selves by putting on an extraordinary display of vicious 
infighting over who should be their presidential candi- 


NEWS ANALYSIS 

date next year. After all, until recently, with the right set 
to win, the nomination battle was even more important 
than the election. 

Now, however, the conservative vote is threatening to 
splinter, with the power struggle between Mr. Bahadur 
and the leader of ms own Gaullist party, Jacques Chirac, 
badly dividing the cabinet and tearing apart the conserva- 
tive coalition that holds 80 percent of Parliament. 

For this, Mr. Balladur is at least partly to blame. Mr. 
Chirac no mina ted him to become prime mini ster last year 
with the idea that he would pave the way for Mr. Chirac's 
own bid for the presidency. Instead, Mr! Balladur became 
more popular than Mr. Chirac and set his own eyes on the 
Efys6e Palace. 

This month, Mr. Chirac decided to formalize his candi- 
dacy, hoping that he could win lost ground over Mr. 


sped in France without 


Bahadur, who has said he win announce ms pian» ui ;r”- c h _ nc i having never run tor ” 

January. But when Mr. Chirac called a party meeting last ™ . experience in the rough-and-tumble of ca 

weekend to acclaim his nomination, it was pointedly 


Bahadur, who has saidhe will announce his plans in 

has little experience 

boyooued'V'several "key party leaders, including the ,. _ trate2V then, is t o keep him out of the 

Interior Minister. Charles Pasqua. __ reinforce his image of a serene 

Other coalition members, including former President 
Val6ry Giscard d’Estaing, are also thinking of entering 
the race. 

Two men further to the right, Philippe de Villiers, who 
heads an anti-European party, and Jean-Marie Le Pen or 


battling right ...... , 

q r * rhirac is doing his bit for the boaahsts by 
heads an anti-European party, and Jean-Mane te renw Sofar, Mr- a< j ur * s government and. above ah. by 
the extreme rightist National Front have already declared ^ QOl ^one enough to tackle France's 

Stasis. Mr. Bahadur, in contrast, is trying to stay 
above the political fray by concentrating on governing 


their candidacies. 

Suddenly, haunted by how they snatched defeat from 
the jaws of victory in the 1981 and 1988 presidential 
elections that were won by Mr. Mitterrand, the conserva- 
tives are desperately trying to dispel their reputauon ror 
being a "losing machine." 

In contrast, the Socialists, who in the past have 


the country. 

It may well be, however, that the battle on the right will 
be resolved onlv on April 23 next year, in the first round 
of presidential elections, when not only Mr. Bahadur and 
- - Chirac, but also other conservatives can test their 


in U.-OUMI, uic tjuvuuiaia. wuy t , w_ r^jr-jr pul also omer couscrvau'ca van 

their own penchant for internecine warfare, have unit ■ . ^ would resemble a primary, 

around Jacoues Delors. And they plan to sit quietly until popularity in J / 

January 1 when thefonner Socialist fmance minister steps The feat of Nit. Pasqua, however, is thaL if uo censer- 

. J . .... »- 1 1 - 'r. mm- 


down as head of the European Union's executive com' 
mission. 

Mr. Delors has not yet accepted the nomination, but 
everything suggests he will. , . 

His strength is that, having spent the last decade at the 
European Union’s Brussels headquarters, he enjoys re- 


vative wins more than 20 percent of voles in the first 
round, the damage caused to the right would make it 
possible for Mr. Delors to win the runoff vote on May 7. 
The latest polls say Mr. Delors is already ru nnin g neck- 
and-neck with Mr. Bahadur and is comfortably ahead of 
Mr. Chirac. 


Bosnia Calls on UN and NATO 
As Serbs Attack Bihac Region 


By Chuck Sudetic 

Nr*' Yivk Times Service 

SARAJEVO, Bosnia- Herze- 
govina — President Alija Izet- 
begovic of Bosnia applied to 
the UN Security Council and 
NATO on Wednesday to lake 
urgent action to stop what he 
described os an all-out attack 
by nationalist Serbs on Bihac, a 
Muslim enclave in northwest- 
ern Bosnia, a part of which was 
designated as a United Nations 
“safe area" last year. 

UN troops observed heavy 
shelling and had evidence of 
infantry clashes around the Bi- 
bac pocket, but no significant 
military activity was reported 
inside the zone mapped out as 
the safe area, a spokesman for 
the UN military force said. 

UN officials said they 
thought Mr. Izetbegovic had 
launched Wednesday's appeal 
‘o prod a declaration by NATO 
and the United Nations of a 
heavy-weapons-exclusion zone 
around Bihac that would freeze 
a Serbian advance and effec- 
tively leave retreating troops of 
Ihe mostly Muslim Bosnian 
Army in control of high ground 
^ist of the town. 

The United Nations and the 
North Atlantic Treaty Organi- 
sation are considering the cre- 
ation of a NATO-enforced ban 


on heavy weapons from an as- 
yet undetermined zone around 
Bihac that may include nearby 
parts of Croatia under the con- 
trol of nationalist Serbs. 

Surrounded for almost all of 
the Bosnian war by nationalist 
Serbs in Croatia and Bosnia, 
contingents of the Bosnian 
Army’s Fifth Corps last month 
mounted an offensive south- 
ward against the Bosnian Serbs 
that netted them about 95 
square miles t about 250 square 
kilometers) of territory. 

Faced with Serbian infantry 
assaults backed up by tanks and 
heavy artillery, often firing 
from Serb-held Croatian terri- 
tory, the Fifth Corps has been 
in retreat for days, losing about 
90 percent of the territory it 
captured but hanging on to a 
key plateau east of Bihac 
known as Grabez. 

UN mflitaiy situation reports 
have noted heavy artillery and 
small-arms fire for three days in 
the Grabez area, indicating an 
ongoing battle. 

Mr. Izetbegovic described 
the situation in Bihac as "ex- 
tremely difficult.” But, in the 
same press conference, the de- 
fense minister of Bosnian-Cro- 
atian Federation, Jadranko 
Prlic, a Bosnian Croat said the 
government’s forces were hold- 
ing. 


Mr. Izetbegovic said Bosnian 
Serbian forces, reinforced by at 
least one paratroop brigade 
from Yugoslavia and soldiers 
from the nearby Serb-held area 
of Croatia, had attacked the Bi- 
hac enclave from the east west 
and south using 30 tanks, heavy 
artillery barrages and helicop- 
ter assaults. He said the Serbs 
had used helicopters based 
across the border in Croatia to 
mount an assault Wednesday 
on Gala, northwest of Bihac. 

"We are asking ingen l action 
from the Security Council and 
NATO ” the Bosnian president 
said. "The American adminis- 
tration should become involved 
in order to stop these attacks.” 

Major Koos Sol, a UN mili- 
tary spokesman, confirmed 
heavy artillery attacks this 
morning on Izacic, a village 
□ear Gata, but said the United 
Nations had no reports of heli- 
copter assaults or large-scale in- 
fantry attacks oa the area. 

■ France Criticizes U.S. 

France on Wednesday criti- 
cized the U.S. decision to stop 
enforcing the UN arms embar- 
go on Bosnia and called on 
Washington to clarify whether 
it still backed peace efforts or 
wanted to help the Muslims re- 
conquer land by force, Reuters 
reported from Paris. 



Panto CKen/Reiuen . 


SIGNS OF RECOVERY — Pope John Paul n Messing the crowd during a general audience .Wednesday at the 
Vatican, which announced that the 74-year-old pontiff, who is recovering from Alness, wfll travel to Asia in January. 

Bishops Assail U.S. ‘Culture of Violence 9 


By Laurie Goodstein 

Washington Post Service 

WASHINGTON — Every 
American bears responsibility 




. • \rc >• CL: . 



for the “culture of violence" in- 
fecting the nation, and every 
American must help recreate a 
culture of peace and civility, the 
nation’s Roman Catholic bish- 
ops said in a call to action 
adopted Wednesday at their 
conference here. 

While addressing the societal 
conflict, the bishops also sought 
to reduce tensions inside their 
church in passing a conciliatory 
statement on the role of women 
in the church. That statement 
provoked debate, however, as 
some bishops urged the inclu- 
sion of language denouncing 
the “radicaJization of feminist 
issues." 

In a pastoral letter addressed 
to all Americans, the bishops 
said that the pattern of aggres- 
sion extends beyond the daily 
toll of shootings, stabbings and 
assaults. 

They say they see violence in 
the hostile way people drive, the 
venom spewed on talk radio, 
the brutal political campaigns, 
the denigration of women in 
pornographic movies, and the 
barbarism of assisted suicide. 

“We have met the enemy and 
it is us," said Bishop John H. 
Ricard of Baltimore, who pre- 
sented the letter to the bishops. 
“We contribute to tbe culture of 
violence, we are a pan of it." 

In their unanimous passage 
of the pastoral letter on vio- 
lence. tbe 280 bishops in effect 
declared that combating vio- 


lence will now be a priority for 
the church’s 60 million mem- 
bers In the United States. 


cans “are in a good position to 
reinstate the common good.” 

But, he added, “they're going 
to have to demonstrate that 
they have a positive and not a 
punitive approach" to problems 
simple, accessible language and like c ™ ne ^ wimjgratioii. M If 
includes a 10-page supplement "01 1 may not be around in 

IWo. 


The letter, which will be dis- 
tributed widely through dioces- 
es and parishes, is written in 


offering 55 suggestions for ac- 
tion. 

The letter sets the Catholic 
church's well-known opposi- 
tion to abortion and the death 
penalty in the context of oppo- 
sition to violence. 

“We cannot teach that killing 
is wrong by killing," the letter 
says, and alludes to the murder 
of a doctor who performed 
abortions in Pensacola, Florida. 

“We have reached the point 
in one very visible case where a 
jury has urged the execution of 
the person who murdered the 
physician who was destroying 
unborn children," the bishops 
say. 

The bishops emphasized that 
their critique transcends tradi- 
tional partisan and political 
boundaries. Bishop Ricard said 
that the nation needed instead 
“a moral revolution which be- 
gins with a fundamental respect 
for life" and “which calls the 
nation to move beyond the tired 
prescriptions or both right and 
left.” 

However. Cardinal Roger 
Mahony, archbishop of Los 
Angeles, said that the Republi- 


■ Reaching Out to Women 

In its policy statement on 
women, the bishops voted to 
make way for women to move 
up to the top ranks of church 
theologians, administrators and 
canon lawyers. 

They also pledged to reject 
authoritarian conduct, use gen- 
der-neutral language in reli- 
gious education materials and 
explore alternatives for women 
to share power in the church — 
short of the priesthood. 

In their new statement — 
“Towards Strengthening the 
Bonds of Peace" — the bishops 
said that since the Pope had 
spoken definitively against 
women's ordination,’ the If.S. 
church needed to look at alter- 
natives. 

“We commit ourselves to en- 
hancing the participation of 
women in every passible aspect 
of church life."’ the bishops said 
in the statement, approved 228 
to 10. 

They especially encouraged 
women to make’ inroads into 
the traditionally clergy-domi- 
nated fields of biblical studies, 
theology and canon law. 


** 


APEC: 

A Bold Step * 

Continued from Page ] 

offering government incentives 
and protection to domestic in- 
dustries. 

American companies might 
benefit from increased exports 
of foods and industrial prod- 
ucts. Automobile production is 
one area in which American 
companies could benefit from 
lower tariffs. In many nations 
of East Asia, imports of cars are 
virtually prohibited by high tar- 
iffs and" other barriers* in order 
to build up the domestic indus- 
tries of each country. 

One of the effects of trade 
liberalization could be in the 
area of investment patterns. 
Right now, for example, with 
imports difficult. Mitsubishi 
Motors has factories in Thai- 
land, Indonesia, the Philippines 
and Malaysia in order to sell m 
those countries. 

But if trade were liberalized, 
it might export from Japan in- 
stead, or build one big f acton’ 
in one country to serve all the 
others. Toyota is now’ moving 
toward a model where it makes 
different parts in different na- 
tions and then supplies all the 
others. 

To make its region more at * 
tractive as a place to do busi* 
ness, the six members of the 
Association of South East 
Asian Nations, or ASEAN, is 
already liberalizing trade at a 
fast rate. A company can make 
high technology parts in Singa- 
pore or Taiwan, lower-tech 
parts in Malaysia and have 
them assembled in Thailand, 
taking advantage of the 
strengths of each country. 

Getting all 18 nations to 
agree on the common goal was 
the big accomplishment, as it 
was only one year ago that Pres- 
ident Bill Clin ion first invited 
the sometimes suspicious heads 
of state to meet on Blake Island 
□ear Seattle to talk about a 
“new Pacific community.” 

“Our main aim was to agree 
on the broad target and not to 
get bogged down at this stage in 
definitions and how to do it," 
said Hamish MacLeod, Hong 
Kong's financial secretary and 
its representative at Tuesday’s 
meeting. 

Eventually, however, the 
APEC members will have to get 
around to such questions, and 
that is where the difficulties will 
intensify. Barely was the ink dry 
on the Bogor Declaration on 
Tuesday than differences in ir.^ 
terpretation began emerging. • 
For instance, many of the na- 
tions think South Korea is in- 
dustrialized enough to be 
among the early liberalizers. 
But South Korea wants to be in 
the late group. The declaration 
itself is deliberately vague on 
where South Korea belongs. 

An initial blueprint for put- 
ting the declaration into effect 
is expected to be ready by next 
year's meeting in Osaka. Japan. 
U.S. officials expect that trade 
will be freed gradually through 
a series of small agreements, 
rather than through one com- 
prehensive agreement as in the 
case of the North American 
Free Trade Agreement. 

As the host country, Japan 
will have the leading role in 
pulling together a blueprint, a 
fact that gives pause to some of 
the other nations as Japan does 
not have a reputation as a free 
trader. 

At a news conference Tues- 
day, Prime Minister Tomiichi 
Murayama was somewhat re- 
strained in praising the agree- 
ment. 

“We expressed our political 
will for a broad direction based 
w ^ long-term perspective.” 

Mr. Murayama said. But when 
asked if Japan will have to open 
its markets for agricultural 
products as a result of the Bo- 
gor Declaration, he said the A 
matter would have to be looked * 
at. 


ISLAM: As Bosnia Loses Its Ethnic Balance, Muslim Roots Grow Longe 


Continued from Page I 
power. Today, after the departure of more 
than 17,000 Croats and thousands of 
Serbs, it has become a Muslim city. 

Beginning earlier this year with the fir- 
ing of nonparty members from important 
positions throughout Bosnia, the transfor- 
mation of the Sarajevo government began 
to disturb Bosnia's friends, including the 
United States. A State Department official 
said this year’s annual human rights report 
would treat “Bosnia more as an ex-Com- 
m uni si country with an authoritarian past 
than a war victim like we did in previous 
years.” 

“We're concerned about the changes." 
he said. “Their retreat into authoritarian- 


ism is logical but we don't think it’s neces- 
sary." 

In some ways, however, the United 
Slates has helped to encourage this slide 
back into one-party rule. 

The United States was the key initiator 
of a peace deal between Bosnia’s Croatian 
and Muslim factions that was signed in 
Washington in March. Although the agree- 
ment ended a yearlong war between the 
two sides, the federation it established was 
not really between the Croats and Muslims 
but between two nationalist political 'orga- 
nizations, Mr. Izeibegovic’s Party of Dem- 
ocratic Action and the Croatian Demo- 
cratic Movement. Influential posts in the 
government were divided between the par- 


ties. creating what one Western officii 
5 i w ?f. * two parallel one-party states. 

in addition, the constitution of the fex 
erauon. written under the supervision < 
U. S. negotiators, did not mention Serb 
living among the Croats and the Muslim 
, whj ch de °ied the Serbs higl 
level political representation in the fed err 
non. was a strong indication that the tw 
Pf™ 55 were more interested in power tha 

°- a to!erajlt socieri 
tneWestem official said. 

It seems to me that they want a mult 
cultural multiethnic state with as litil 
multi as possible," said Ljubomir Berbei 

ra^Kp^f^ “ leI J«tual and prominer 
member of Sarajevo s Academy of Scienc 


: i ANGOLA: Government Orders Troops to Hold Fire 


The day's dealing had been even more 
successful than I'd hoped. 

But now I was feeling as limp as my suit, 
and the decision whether to dive into the bar or 
the shower first was going to be a lough one. 
"Take me to the Hilton? 


A few phone calls and faxes, and I'd be 
able to relax. Tonight, it would be dinner for two. 
with a bottle of something suitably extravagant 
from the Hilton's impressive cellar 

Soon, together with my suit, I'd be restored 
to my former sell 


llllll 


HILTON 

Where you can be 

your/^^again. 


HILTON IffTEftNATICiNAL OPERATES OVER W HOTELS AROUND THE WORLD TOR RESERVATIONS CONTACT TOUR TRAVEL AGENT. ANY HILTON HOTEL OR HIU0N RESERVATIONS WORLDWIDE 


Continued from Page I 
( cast on state radio, called on his 
troops to respect the truce 
“scrupulously." 

Optimism was guarded that 
the cease-fire would hold, al- 
though all previous efforts to 
[' stop the war that erupted on the 
eve of independence from Por- 
tugal in 1975 have failed. 

In a measure to reassure Mr. 
Savimbi that his men would not 
face reprisals, Mr, Beyesaid the 
National Assembly quietly 
passed a blanket war crimes 
amnesty last week for both 
sides. 

In recent weeks, the United 


Nations' main problem has 
been persuading the govern- 
ment to halt its offensive so the 
peace could begin in an atmo- 
sphere of trust. 

_“1 think they are now begin- 
ning to show some seriousness." 
said Major General Chris Gar- 
uba, a Nigerian who is presid- 
ing over the peace talks. “1 bo 
beve it will hold this time 
around. 

If it does, the southern region 
of Africa would be without war 
for the first time since the anti- 
“Swj uprisings of Lhe 1960s. 

Mr. Savimbi now finds him- 
self swimming against a region- 


al tide of reconciliation and de- 
mocracy — in South Africa, in 
Malawi, and most recently in 
Mozambique. With President 
Nelson Mandela of South Afri- 
ca as the role model, the coun- 
tries of southern Africa have 
begun to swing their diplomatic 
weight together. 

The treaty to be signed Sun- 
day would kick off a sequence 
of international policing that 
was lacking in previous peace 
agreements. (AP, NYTj 


To subscribe in Germany 
lint call, toll free, 
013084 85 85 


Russian Oil Executive 
Shot to Death at Home 

Reuters 

MOSCOW — Vladimi 
44 \ an e *ecutive wit 
Lukoil, Russia’s biggest oil prt 
ducer, was shot to death at hi 
nome in Moscow, according t 
a police statement Wednesday 

The police were investigatm 
the possibility that the shootia 
was connected to a worsenin 
crime wave. 

The new crime wave ha 
spawned a rash of shoot-oui 
between gangsters, contrac 
killings and car bomb explc 
sions in several of Russia's ma 
jor cities. 


^ 1 1 ' 


■f 


/ 






INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 


■ “ _ 

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Clinton F ails to Move Suharto on Rights, and U.S. Stresses the Trade Lever 


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Ronald 


Rid Wnbag/Etaum 

H. Brown talking Wednesday with Mr. Clinton before the president spoke in Jakarta. 


By Elaine Sdolino 

f/ew York Tima Service 

JAKARTA —-Two cultural divides over 
human rights in Indonesia were exposed 
Wednesday: one between President Bill 
Clinton and President Suharto of Indone- 
sia, the other between the foreign policy 
and the economic policy of the United 
States. 

Mr. Clinton’s meeting with Mr. Suharto 
in an airy meeting room in the opulent 
Jakarta Palace proved how resistant for- 
eign leaders can be when the president of 
the United States comes in and suggests, 
however gently, how things should be 
done. 

And the tonal differences amnng cabi- 
net officials as they sought to explain their 
message drew attention to the jarring ten- 
sion between the administration’s stated 
desire to export its values and its increas- 
ing need to export its goods. 

Meeting for more than an hour in the 
afterglow of a summit meeting of 18 Pacif- 
ic Run countries, Mr. Clinton told Mr. 
Suharto that his treatment of his people 
would inhibit ties between the United 
States and Indonesia and rob him of the 
chance to flourish as a world leader. Secre- 
tary of State Warren M. Christopher said. 

Mr. Christopher told reporters before 
meeting with Indonesia’s government-ap- 
pointed h uman rights organization that 
Mr. Clinton raised h uman rights “in firm 
and forceful terms,” adding, ’The rela- 
tionship between the United States and 
Indonesia can never reach the highest lev- 
els if the people of the United States don’t 
have confidence that there is an effort here 
to respect the human rights of all the 
citizens.” 


Mr. Suharto, who has been in control 
since the mid-1960s, apparently was not 
moved. 

When Mr. Clinton praised Mr. Suhar- 
to’s dialogue with the people of East Ti- 
mor, the former Portuguese territory an- 
nexed by Indonesia, but said they needed 
more autonomy, Mr. Suharto balked. “He 
believes that the Indonesian government is 
dealing with the issue fairly,” a senior 
administration official said. 

In Mr. Suharto’s overall remarks on hu- 
man rights, the official added, “We’re 
along the lines that have been previously 
expressed by the Indonesian government.” 

Another senior official translated what 
that meant: “Suharto didn't back down 
one inch. He gave well-rehearsed answers 
that he is used to repeating.” 

That is not surprising. Except for with- 
holding militar y aid and training, there are 
do penalties if Mr. Suharto does not bend 
to Washington’s wishes. 

Mr. Suharto learned that early this year. 
Shortly after Treasury Secretary Lloyd 
Beatsen told Mr. Suharto in J akar ta that 
he had to do more on workers’ rights if he 
wanted to retain his country’s preferential 
trade privileges, Mickey Kan tor, the U.S. 
trade representative, abruptly suspended 
the administration’s review of the issue. 

Now, administration officials say, the 
key to promoting human rights is not pun- 
ishment, but more trade and investment, 
which they believe will spur economic 
growth and help spawn a middle class with 
both consumerism and democracy in 
mind. 

Along with the heated rhetoric Wednes- 
day about the need for Indonesia to do 
more on h uman rights was a second more 


powerful message about the joys of trade. 

Indonesia is expected to spend more 
than S 100 billion in infrastructure projects 
by the year 2000, and the United States is 
determined to seize a large chunk of them. 

Even as Mr- Clinton was mixing tough 
talk about human rights with happy talk 
about goals for free trade in the Asia- 
Pacific region in the partnership between 
the two countries on international ipues, 
Secretary of Commerce Ronald H. Brown 
was finalizing arrangements for 15 projects 
that would be worth $40 billion to both 
countries. 

The largest is a multiyear $35 billion 
project to develop a massive off-shore nat- 
ural gas field. 

Mr. Suharto had hoped that by being 
host of this year’s meeting of the |proup of 
18 leaders, blown by the name Asia-Pacif- 
ic Economic Cooperation, he would focus 
attention on bis country's economic pro- 
gress and forwardly leanin g views on free 
trade. 

Instead, the focus was dimmed by dem- 
onstrations in the East Timorese capital, 
Dili, and by a sit-in that began last Satur- 
day on the U.S. Embassy grounds in Jakar- 
ta by 29 East Timorese who bad demanded 
a meeting with either Mr. Clinton or Mr. 
Christopher. 

Neither man nor any other senior ad- 
ministration official has met with them. 

A number of Indonesia's private human 
rights organizations boycotted a meeting 
Wednesday with Winston Lord, the assis- 
tant secretary of state for East Asian and 
Pacific Affairs; Stanley Roth, the senior 
Asia specialist at the White House; and W. 
Bowman Cutter, the deputy director of the 
National Economic Council. 


Foreign Journalists Were Buttoned Down and Buttoned Up 


By Thomas W. Uppman 

Washington Post Service 

JAKARTA — With Presi- 
dent BQ1 Clinton and so man y 
other heads of state and prime 
ministers coming to town for 
the big free- trade summit meet- 
ing, President Suharto of Indo- 
nesia naturally wanted his capi- 
tal to look its best and the event 
to come off smoothly. 

In those circumstances, one- 
man rule has its advantages. 
Mr. Suharto ordered “Opera- 
tion Cleansing” — streets were 


cleaned, beggars dispersed, 
street vendors moved away 
from the big hotels. 

But there was still one poten- 
tially hostile force to be con- 
trolled: the foreign press. Indo- 
nesia wanted to be sure the 
journalists dressed appropriate- 
ly and asked polite questions. 

Reporters traveling with Mr. 
Clinton were informed that the 
Indonesians would enforce a 
dress code: tie and solid-color 
coat for men, conservative 
skirts for women. 


But how to keep those well- 
dressed reporters from asking 
questions that might embarrass 
die host, about human rights, 
say, or Indonesia’s occupation 
of East Timor? Easy: Issue the 
appropriate order. 

In a memo to all delegations 
at the 18-member Asia-Pacific 
Economic Cooperation forum, 
the Indonesian Foreign Minis- 
try set down the rules for Mr. 
Suharto’s only encounter with 
the foreign press, at the conclu- 
sion of the event Tuesdays 


“Upon conclusion of the 
leaders’ deliberations, President 
Suharto will hold a 30- min ute 
press conference. Questions 
should be asked in English and 
addressed to the chairman only, 
not to any of the other leaders. 
In his capacity as APEC chair, 
President Suharto would like to 
take questions only with respect 
to the APEC process. 

“The chair man will field only 
seven questions from the press 
corps. Each of the main geo- 
graphic areas represented in 


APEC will be entitled to ask 
one question. The breakdown 
of questions has been deter- 
mined as follows: the host 
country. (1), North America, 
the United States and Canada 
(11 Latin America (1), Europe 
(1), Japan (1), China (1) and 
ASEAN .[the Association of 
Southeast Asian Nations] ex- 
cluding Indonesia. (1), for a to- 
tal of seven questions. Pool 
heads should determine aKfad 
of time how these questions will 
be allocated.” 


It almost worked. AD but one 
of the questions were bland in- 
quiries about “positive en- 
hancement of the North-South 
dialogue” and the like. 

The exception came from 
Elaine Sdolino of The New 
York Times, who asked Mr. Su- 
harto how he plans to resolve 
the East Timor issue “once and 
for aD.” 

Through his interpreter, he 
said it would take too much' 
time to answer that question. 


In Nepal Elections, Ruling Party Takes Backseat to Communist Alliance 


The Associated Press 

KATMANDU, Nepal — A 
••■Communist alliance took an 
'early lead in parliamentary 
elections over the centrist party 
that has governed Nepal since 
1991, winning 20 of the 30 seats 


in results announced Wednes- ing seat went to an indepen- 
day. dent 

The Nepali Congress of The prime minister won in 
Prime Minister Cirija Prasad Sunsari. 180 kilometers (110 
Koirala won only six of the miles) southeast of Katmandu, 
seats, and a pro-monarchy defeating his Communist rival 
group took three. The remain- by nearly 9.000 votes, and was 


leading in a second constituen- 
cy. 

Mr. Koirala’s government 
has been discredited because of 
Nepal's weak economy, and the 
Communists’ promise to Insti- 
tute land reforms and break up 
large holdings held wide appeal 


in this mountainous agricultur- 
al country. 

A rebellion by 36 governing 
party lawmakers pulled down 
Mr. Koirala’s government and 
forced elections 18 months 
ahead of schedule. 

“It’s a positive trend,” Mad- 


hav Kumar, secretary-general 
of the Communist Party of Ne- 
pal. said of the early returns. 

Final results will not be de- 
clared for a week because the 
election commission ordered a 
recount in 64 polling stations in 
33 constituencies. 


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Page 8 


INTERNATIONAL TTF.B AT.n TRIBUNE, THURSDAY, NOVEMBER 17, 1994 


Army’s Readiness Is Down, Pentagon Concedes | 


By Bradley Graham 
and John F. Harris 

Washington Peat Service 

WASHINGTON — The Pentagon has announced 
thai operations in Rwanda, Haiti and elsewhere have 
left the U. S. Army in a much lower state of combat 
readiness ,h » n the Clinton administration was ac- 
knowledging as recently as a few weeks ago. 

A few hoars after congressional Republicans com- 
plained Tuesday that mmtary forces were starting to 
fray badly. Defense Secretary William J. Perry made 
public a letter disclosing that three of the army’s 12 
divisions were far below peak preparedness. Addition- 
ally, military officials said two of the army’s main 
quick-reaction units would be unable to fulfill some of 
their missions if they were ordered into action today. 

News of the readiness gap comes a month after 
Deputy Defense Secretary John M. Deutch brushed 
aside Republican complaints by boasting that U. S. 
military preparedness is better than it was at the start 
of the Gulf War in 1991. Mr. Deutch said Tuesday that 
he was unaware then of the army’s new low readiness 
ratings. 

Even before Mr. Perry’s admission, made in a letter 
to Capitol Hill leaders, the administration was under 
assault from the Republicans for allegedly understat- 
ing the cost of its intervention in Haiti 


The administration has said that restoring President 
Jean-Bertrand Aristide to power in Haiti will cost 
about $500 milli on. But Republican senators, citing 
their analysis, said the real figure was almost three 
times higher and rising. Some Republicans are threat- 
ening to use the cost controversy as a way to help force 
an early halt to the Haiti intervention. 

Administration officials said the Republicans were 
projecting costs through this fiscal year and into the 
next in their analysis, while the administration was 
reporting only funds spent. 

In disclosing the readiness gap. Pentagon officials 
said a combination of unforeseen military operations 
abroad, which were not promptly reimbursed with 
suppl emental f unding from Congress, had led to the 
lowest series of readiness ratings the army has seen in a 
dozen years. 

Mr. Deutch, in an interview, reiterated his belief 
that the military overall had a “strong readiness pos- . 
tune,” and he asserted that the units that would be 
most quickly deployed in a crisis were “qualitatively 
better” than their counterparts several years ago. Also, 
he noted, the a dminis tration is spending more money 
per unit on readiness than previous administrations 
and planned to increase this in next year's budget. 
Nevertheless, Pentagon officials said it would take 
well into 199S for the shortcomings to be corrected. 


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Representative Floyd D. Spence, a Repubbcan of 
Smith Carolina who is in line to lake over as chairman 
of the House Armed Services Committee, released a 
sharp letter to Mr. Deutch this week taking him to task 
on the readiness issues. 

“This administration is showing the classic symp- 
toms of denial in claiming, after two years of devastat- 
ing budget cuts and significant wear and tear on 
overextended forces, that readiness is higher than it 
has ever been,” Mr. Spence said in a statement re- 
leased with his letter. “While official Washington may 
be trying to convince itself of this Illusion, the picture 
from the field is markedly and disturbingly different/ 

Mr. Spence offered a half-dozen examples that he 
said showed U. S. forces starting to fray. He said 28 
Marine and navy aviation squadrons grounded half 
their aircraft in September because of reduced fund- 
ing. 

Pentagon officials said at a briefing late Tuesday 
that three divisions had received a “C-3" rating, the 
next to worst, meaning they could conduct ‘’many but 
not all wartime missions'’ and showed a “significant 
decrease in flexibility and increase in vulnerability.’' 
These divisions, officials noted, belonged to the cate- 
gory of army units that would not be among the first 
deployed in a crisis. 


Paris Bans Show 
By Iranian Singer 

Reuters 

PARIS — Interior Minister 
Charles Pasqua on Wednesday 
banned a concert by the Iranian 
singer Ashraf Manrieh, saying it 
would be a show of support for 
the Iraq-based Mujahidin 
Khalq, an Iranian opposition 

S . He said the performance 
be a threat to public or- 
der. 

Mr. Pasqua said in a state- 
ment that the concert, sched- 
uled for Dec. 4 at the Palais des 
Congrfcs auditorium, would vio- 
late the obligation imposed on 
political refugees in France to 
observe restraint. 

A spokesman for the Mujahi- 
din IGialq said they were not 
organizing the concert. He said 
the performance, unlike a soli- 
darity conceit staged in Paris 
last July, was not pohticaL “It 
was not intended as support 
and only had cultural and artis- 
tic motives,” he said. 



IRELAND: 

Coalition Falls 4 


Ilie Marian/ Roncr» 


Adrian Mooney with his adopted daughter, Grace, in 
Bucharest hours before the appeals court ruling. 

Romania Expels U.K. Baby Buyers 

BUCHAREST (Reuters) — A Bucharest appeals court sus- 
pended the prison sentence Wednesday imposed on a British 
couple, Adrian and Bernadette Mooney, for buying a 5-month-old 
baby girl and trying to smuggle her out of Ro mania, They were 
arrested on July 6 with the child hidden in their car. 

The three-judge panel cut the sentence from 28 months to two 
years, suspended it, and ordered the couple to leave the country. 
The judges announced the suspension in open court with the 
Mooneys present The baby is m a Romanian orphanage. The 
Mooneys had previously adopted a Romanian girl, now 3, in 1991. 

The couple were the first foreigners prosecuted under tough 
1991 adoption laws intended to crack down on a wave of baby 
trafficking after the 1989 anti -Communist revolution. 


EUROPEAN 

TOPICS 

! — 

Swiss Turn Bunkers 
Into Bate 9 Habitats 

In a vast sword-to-plow- 
share program, Switzerland is 
pondering the fate of thou- 
sands of border defenses ren- 
dered obsolete by the end of 
the CcAd War, including its 
famous toblerones — the pyra- 
mid-shaped concrete tank- 
stoppers named after the 
chocolates of a similar form. 

A military survey has iden- 
tified 14,000 structures, from 
rained bridges to fortified 
houses, that have been “tacti- 
cally overtaken.” 

Some will be sold, others 
destroyed. Still others will be 
classified as historic monu- 
ments. Even a bleak-looking 
bunker can be an “architec- 
tural marvel,” made of the fin- 
est stone and reflecting origi- 


nality in construction, one 
architect told the Journal de 
Gen&ve. 

Other former defenses are 
being pressed into the service 
of the environment Anti-tank 
ditches have been converted 
to fish ponds. And bunkers, 
with their caveHke interiors, 
make perfect habitats for bats. 

Around Europe 

A sad record was set last 
week in Germany: 17 people 
killed themselves by jtunpmg 
in front of trains. With two 
such attempts every day on 
German railroads, engineers 
have had to live with the grim 
knowledge that at least once 
in their careers, they are likely 
to be involved in such a death, 
the daily SOddeutsche Zdtung 
reports. 

“It’s a bloody lonely job,” 
says Winfricd Lang, an offi- 
cial of the train engineers’ 
union. “You’re driving at 
night, through fog, and even 
years later you keep coming 
back to the place where the 


thing happened.” The Ger- 
man railroad authority now 
provides engineers with psy- 
chological training on how to 
handle such trauma, as well as 
follow-through co unseling . 

It is a most imusual monu- 
ment: Stretching through Par- 
is from north to south, it has 
135 separate parts, and yet 
you might easily overlook it 
Implanted in city streets and 
courtyards, 135 bronze circles, 
each bearing only the word 
Arag©ahdan“N" and “S” for 
the compass points, honor 
Francois Arago, the 19th cen- 
tury scientist and politician. 
They follow the imaginaiy 
line between the Earth’s poles, 
known as the meridian of Par- 
is, which Mr. Arago had 
helped trace out even before 
his election to the French 
Academy of Sciences at the 
age of 23. 

An ambitious pedestrian 
can follow the new “monu- 
ment” from 18 Avenue de la 
Porte de Montmartre, at its 
northernmost point, through 


olds exonerated Mr. Whelehan 
from any blame in the case, in 
which the attorney general 
failed to act for seven months 
last year on warrants for the 
extradition of the Reverend 
Brendan Smyth, who eventually 
surrendered voluntarily, was 
convicted and began a four- 
year prison sentence m June in 
Northern Ireland. 

Labor and other politicians 
expressed outrage that Mr. 
Wbelehan had allowed an ac- 
cused molester to remain at lib- 
erty in Ireland for seven 
months. 

Wednesday afternoon, Mr. 
Reynolds surprised Parliament 
bv admitting that he had now 
learned that Mr. Whelehan was 
wrong, that he had misled the 
government by saying the case 
Sf the priest was without prece- 
dent to guide officials. Mr. 
Reynolds said that, indeed, 
there had been a similar case, 
involving a clergyman charged 
with sexual offenses, and that 
the attorney general had 
promptly processed the appli- 
cation for extradition. Mr. 
Reynolds said that if he had 
known that a week ago. he 
would not have promoted 
Whelehan, but would havr 
asked him to resign. 

Mr. Spring, who spoke later, 
said he and Mr. Reynolds had 
run a good government, partic- 
ularly in their joint efforts for 
peace in the North. But Mr. 
Spring said that “the peace pro- 
cess is not so fragile” that otheT 
parties could not advance it. 

Mr. Spring said Lhat when he 
heard Mr. Reynolds’s admis- 
sion Wednesday that Mr. Whe- 
lehan was wrong, “I was pre- 
pared to support the 
government” in the coming 
vote of confidence. 

But Lhen, Mr. Spring said, he 
asked Mr. Reynolds on what 
day he had learned of the attor- 
ney general's action in the earli- 
er extradition case. Mr. Reyn- 
olds acknowledged that he had 
known it on Monday. 


the Palais Royal the Louvre, 
the Luxembourg Garden, the 
Observatory, across Boule- 
vard Arago, and finally to the 
Cambodian Pavilion in the 
south. 

The street-level tribute was 
designed by the Dutch artist 
Jan Dibbets. “You could say 
it is the longest sculpture in 
Paris, but at the same time, it 
is the simplest, because there 
is nothing." he told the daily 
Liberation. “It is an imagi- 
nary monument constructed 
along an imaginary line.” 

A decriminalization of hash- 
ish was urged by 200 German 
judges and prosecutors at a 
recent conference in the Baltic 
Sea town of Damp. “Hash- 
ish," the group said in a com- 
munique, “is clearly less dan- 
gerous than alcohol or 
nicotine. The continuing cri- 
minalization of hashish re- 
flects a double standard which 
flies in the face of the findings 
of natural and social scien- 
tists.” 


Brian Knowlton 


PRAYERS: Issue on Center Stagt 


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Continued from Plage 1 

welcomed the president's com- 
ments as “a very good thing" 
and said he hoped to meet soon 
with the president to draft an 
amendment that would “allow 
us to re-establish a right which 
existed for all of American his- 
tory up until the early 1960s." 

A vote could come as early as 
July. Republicans warn the 
mnendment to state that noth- 
ing in the constitution bars vol- 
untary prayer, that no person 
shall be compelled to pray and 
that the government would not 
dictate the content of the pray- 
er. 

But it will not be easy to pass. 
Amending the constitution re- 
quires a two-thirds vote in both 
houses of Congress, then ratifi- 
cation by three-quarters of the 
state legislatures. 

Since it first issued a defini- 
tive ruling barring or ganic 
school prayer in 1962, the U.S. 
Supreme Court has consistently 
voted to bolster its view. Even a 
“moment of silence” organized 
by school authorities has been 
ruled out. 

The basis for the ruling is the 
constitution’s first amendment, 
which bars Congress from mak- 
ing any law “respecting an es- 
tablishment of religion, or pro- 
hibiting the free exercise 
thereof.” 

To permit organized prayer, 
the justices have argued, would 
allow the majority — presum- 
ably Protestant Christians — to 
create a coercive environment 
for schoolchildren of different 
faiths or for those who do not 
wish to pray, 

Mr. Clinton, a Baptist, has 
previously spoken of his per- 
sonal support for only volun- 
tory prayer in public schools. 
But some Americans, including 
many Christian fundamental- 
ists, a voting bloc that is grow- 
ing in its potency, believe the 
schools are failing to teach reli- 
gious values to children and 
should offer organized prayer 
each day. 

On Tuesday, Mr. Clinton ex- 


pressed concern at a press con- 
ference that school prayer 
might “become coercive to peo- 
ple who have different religious 
views from those that are in the 
majority ” But he also said he 
would not rule out a constitu- 
tional amendment and would 
have to “see what the details 
are." 

On seeing the president’s 
comments, the liberal group 
People for the American Way, 
accused the president of “cav- 
mg in to Mr. Gingrich and 
making “gestures to the right 
wug because of conservative 
electoral gains. Jewish leaders 
expressed similar unease. 

Neither Mr. Clinton nor Mr. 
Gingrich intended to make 
sch(»l prayer a high priority in 
the forthcoming Congress. Re- 
publicans have promised to 
press for votes on such issues as 
welfare reform, tax cuts, mili- 
tary budget increases, and a 
constitutional amendment re- 
quiring a balanced budgeL 

Mr. Clinton believes there is 
room for compromise on some 
of these issues, particularly wel- 
fare reform and the Republi can 
idea of providing the president 
wth the authority to veto indi- 
vidual spending programs with- 
in larger bills passed by Con- 
gress. 

It is undear whether school 
prayer is a top priority for Sen- 
ate Republicans, but one leader 
thenL Senator Thad Cochran, a 
Mississippi Republican, said 
Wednesday lhat the issue was 
a legitimate concern” that 
ought to be considered and de- 
bated this year. 

— PAUL F. HORVITZ 


To our reo ders in France 

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INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 


Page 9 


s Brain-Renewal Project 

walls (below tight| CampUS srows man y new neurons each year at seed-hiding time. New growth forms along ventricle 


HEALTH /SCIENCE 

‘Missing Matter’: Mystery Deepens 

nrftu/th forme alonn wantrirlo ' v 


Black-Capped 

Chickadee 


Side View 


Cross Section 



Hippocampus 


Midline of 


Hippocampus 


Telencephalon I Cerebellum the brain — j Telencephalon 


Optic — 

tectum 

Medulla 


Ventricular 

walls 




Spinal cord 




£&> Sources. Or. Philippe Roussetot/RockefeBer University 


Optic tectum 


JoJv En«ay/The K c* Yort T me- 


The Brainy Birds of Autumn 


. By Natalie Angier 

4 Ww York Tima Service 

EW YORK — Every fall, when 
the trees of North America's for- 
ests shake themselves into bare 
brown bones, and the sky grows 
gray and surly, and the meadows offer 
little but brambles and shriveled berries, 
the little black-capped chickadee rises bril- 
liantly to the challenges of a callous world. 

The insects it has feasted on throughout 
the spring and summer are all dead, which 
means the bird must start foraging over a 
much wider terrain for fast-vanishing 
seeds and nuts. 

The creature must also store food for 
winter, distributing little stashes in many 
hiding places to assure that it does not lose 
everything in one big theft; and it must keep 
in mind where all those seeds are cached. 

Not to worry: Each year, when the need 
to sharpen its thinking is greatest, the black- 
capped chickadee grows a fresh new brain. 

Reporting in The Proceedings of the 
National Academy of Sciences, Dr. Fernan- 
do Nottebohm of Rockefeller University in 
New York and ids colleague Dr. Anat Bar - 
nea, now of Td Aviv University in Israel, 
announce that in black-capped chickadees 
the hippocampus of the brain — a region 
thought to be criticaT to memory storage 
and spatial learning — swells with a burst of 
neuronal growth each October. The scien- 


tists have found that just at the time when 
die birds are confronting profound changes 
in their landscape, they have a huge turn- 
over in hippocampal neurons, the old cells 
dying off and new ones taking their place. 

By comparison, chickadees kept in com- 
fortable captivity and provided with all the 

much neuronal turnover's their free- for- 
aging peers. 


T HE latest results add an important 
dimension to the heatedly debated 
field of neurogenesis, the notion 
that the adult brain, far from bring 
incapable of cell growth or self-repair as 
scientists long beheved, can under certain 
circumstances shuck off the old and fash- 
ion the new. 

In previous experiments with songbirds. 
Dr. Nottebohm and his co-workers dem- 
onstrated that parts of the brain believed 
responsible for song learning undergo an- 
nual cycles of cell death and regrowth, very 
likely as a way of allowing birds like canar- 
ies to forget last year’s tunes and master 
new ones. Now, the scientists have shown 
that neurpgenesis also takes place in the 
songbird’s hippocampus, presumably as a 
way of keeping the creature’s foraging 
stills and territorial maps up to date. 

“This adds strength to our original hy- 
pothesis that there is a correlation between 
neuronal turnover and learning.” he said. 


Neurogenesis has also been observed in 
mammal^ particularly rodents, although 
the reasons for the turnover of brain tissue 
in these animals remain unclear. Nor does 
anybody know whether neurogenesis ever 
takes place in adult human brains, though 
they suspect the answer is usually, alas, no. 

Researchers hope that if they can unrav- 
el the details of neuronal regeneration in 
birds and other animals, they may figure 
out a way of coaxing forth the trick in 
patients suffering from neurodegenerative 
disorders like Alzheimer's disease, Parkin- 
son’s disease, paralysis and the like. 

Beyond any long-tom clinical relevance, 
the latest experiments also raise the provoc- 
ative question of how one defines a unit of 
memory — that is, what, exactly, is a memo- 


By Kathy Sawyer 

WashtrtgUm Post Service 

W ASHINGTON — About 60 
years ago. astronomers began 
to discover they could not lo- 
cate 90 percent of the matter in 
the universe. Two independent us- 
ing the Hubble Space Telescope reported 
that they have ruled out the simplest, most 
reasonable explanation for this predica- 
ment. The remaining possibilities are. they 
say, radical. 

For about 30 years, many astronomers 
have clung to the theory that the missing 
mailer is similar to the matter they can see, 
consisting of objects like the sun and other 
celestial bodies but shining very feebly or 
not at alL With better telescopes, they 
thought, they would detect the missing 
mass, which they called dark matter, all 
around them, where it had been all along. 

Enter the Hubble. Positioned above 
Earth’s atmosphere, its instruments are 
sharp and sensitive enough to take the first 
census of the smallest normal stars. And 
yet, the two teams reported that the tele- 
scope has found nothing, or next to noth- 
ing in patches of sky where, according to 
the theory, there should be a lot of dim, 
small stars known as red dwarfs. 

What’s left? The most plausible expla- 
nation, the astronomers said, appears to be 
one favored by many particle physicists 


that the missing matter is not normal, not 
made up of protons and neutrons. Instead, 
this theory holds, the universe is aswann 
with exotic particles that don’t interact or 
collide with normal matter. 

John Babcall of the Institute of Ad- 
vanced Study in Princeton, New Jersey, 
leader of one of the two teams, said that he 
had favored the conventional wisdom, that 
“the right stuff is ordinary stuff.” Now, he 
said. Hubble has “settled the debate that 
has lasted for 30 years.” 


T HE deepening mystery of the miss- 
ing mass, he said, is “the most 
fundamental problem that we have 
in astronomy today.” The nature 
of dark matter, he said, “determines to a 
very great extent how the structure of the 
universe at the grandest scales evolved, 
and how the things that you and X are made 
of, ultimately the stars and the galaxies, 
formed.” The abundance of dark matter 
will determine whether the universe will 
continue to expand or whether, if its gravi- 
tational binding strength is sufficient, it 
will contract upon itself. 

David S chramm, a theoretical astro- 
physicist at the University of Chicago and 
co-author of a book on dark matter, said 
the findings represent a tilt “toward word 
exotic stuff” and imply that “it’s all 
around us right now.” 

Since the 1930s, scientists have collected 


what they call incontrovertible evidence 
that all visible celestial objects, such as 
stars, planets and galaxies, must exist m a 
sea of invisible matter. Studies of hundreds 
of galaxies like the Milky Way show that 
mags usually increases toward the outer 
rim of the viable disk of stars, suggesting 
these fl^iaries are surrounded by. halos of 
invisible matter. The matter is invisible, 
pres umab ly, because it neither emits nor 
reflects much light, or any light. 

Hoping that the Hubble’s keenness of 
vision would make dark matter reveal it- 
self, Dr. Bahcall’s team looked in random 
regions around the Milky Way for red stars 
100 dimmer than those that could be 

detected from the ground. In a patch of sky 
where the team bad expected to see seven 
of the faintest, least massive type of red 
dwarfs, “we saw zero," he said. 

The other team, led by Francesco jParcs ce of 
the European Space Agency and STS2, pro- 
duced the deepest and most sensitive image 
ever taken of a globular duster, one of the 
ancient swarms of up to a mflBon stars, 
tightly packed together, that orbit within 
the halo around the main disk of stars in the 
Milky Way. “If low-mass stars were going 
to be created at all, that’s where we’d expect 
to find most of than.” said Dr. Faresoe. 
“We had expected ‘wall-to-wall* faint red 
stars. That’s why the image astonished us 
when we first saw it because of the stars that 
are missing-” 


Breast Cancer Study Reprieved 


jy made of? Most neurobiologists suspect 
that the unit of memory is the synapse, a 
connection between one brain cell and the 
next. 

Based on his work with songbirds. Dr. 
Nottebohm believes otherwise. The fact 
that songbirds display regular cycles of neu- 
ron death and replacement suggests to him 
that synaptic connections are not enough to 
make serious, long-term memories. 

“If the synapse were the unit of memory,” 
he said, “then the animal wouldn’t need to 
sacrifice all these neurons” to build its men- 
tal portrait of the autumnal world. It would 
simply bump up the number of synapses to 
accomm odate incoming information. 


By Gina Kolata 

Mete York Times Service 

ETHESDA, Maryland — Wom- 
en who have breast cancer that 
has not spread outside the breast 

can almost always safety choose 

a lumpectomy followed by radiation rather 
than a mastectomy, researchers concluded 
at a workshop here. 

The meeting, held Tuesday by the Na- 
tional Cancer Institute, was called follow- 
ing disconcerting questions raised recently 
about the relative efficacy of mastectomy 
and lumpectomy followed by radiation 
therapy. 

In a mastectomy, most or all of the 
breast is removed, while in a lumpectomy, 
only the lump and immediate surrounding 
tissue is removed. In 1990. a consensus 
conference called by the cancer institute 
confidently stated that lumpectomy fol- 
lowed by radiation was as effective as 
mastectomy in preventing recurrence of 


cancer for the vast majority of women with 
early breast cancer. 

But last spring, after a large national 
study, the National Surgical Adjuvant 
Breast and Bowel Project, was thrown into 
turmoil when one of the study’s investiga- 
tors admitted falsifying data, and some 
investigators began wondering anew about 
these conclusions. 

Since the statistics accumulated by the 
study had persuaded many doctors and 
women that lumpectomies and mastecto- 
mies were equally effective, the disclosures 
were devastating. Doctors and women 
asked whether the study’s conclusions still 
held up, and some feared that mastecto- 
mies might be better. 

At the same time, other researchers were 
asking whether the radiation treatment fol- 
lowing lumpectomy was really necessary. 
They were concerned that it might cany 
risks of its own. 

To resolve the lingering questions about 
the study, the cancer institute assigned 54 


doctors and other health professionals as 
well as statisti cians to examine the data, 
reviewing 1,534 patient charts and verify- 
ing data by asking to see patient records 
and death certificates. 

Dr. Michaele Christian of the cancer 
institute reported at the meeting that the 
auditors haul verified all the data for 1.329 
patients, or 92 percent. 

Then the cancer institute asked Emmes 
Corp- of Potomac, Maryland, to analyze 
the data. Dr. Donald Stablein of the com- 
pany reported that although his was “not 
the final analysis,” his group analyzed the 
audited data and saw no difference in 
survival over a decade between the women 
who had mastectomies and those who had 
lumpectomies followed by radiation. 

The findings of the breast and bowel 
study were bolstered by data from other 
studies that came to the same conclusion. 
These included a small study done by the 
cancer institute and several large Europe- 
an studies. 


Sour Note on Olive Oil Quitting Smoking May Help Mend Damaged Lungs 

New York Times Senke - , P R . Nicholas R. AnthoniseD of the study began. They were divided measuring the volume of air the comparable to the average age- in the future more women tha 

W ASHINGTON — One of the firmer tenets of “ roa y University of Manitoba in Win- into three groups. Two groups person’s lungs were able to ex- related decline among people men will develop lung cancer. 

initiation, anotabty slippery subject, has been that he* York runes seme ^pqg, are published in The received intensive counseling on hale in one second. who never smoked. Those who hfl _ u™. nrelimimi 

oEve oil is better for tbe heart than, say, com oil r Journal of the American Medi- smoking along with a nicotine ^ ^ continued to smoke experienced T 

and safflower oflL So said a study published nine H EW YORK — Nearly 

all smokers experience 
an accelerated decline 
in hmg function, and 


New York Times Service 

W ASHINGTON — One of the firmer tenets of 
initiation, a notably slippery subject, has been that 
oEve oil is better for the heart than, say, com oil 
and safflower afl. So said a study published nine 
years ago. wbirii gained conaderaHe snpport from the very low 
rates of heart disease found among Mediterranean cultures that 
consume more olive oil than any other dietary fat. 

But an analysis presented by Dr. Christopher Gardner of 
Stanford University at a meeting of the American Heart 
Association in Dallas seems to suggest otherwise. His analysis 
of findings from 14 studies leads him to believe that the only 
concern should be “to avoid saturated fats,” like those found in 
animal products, coconuts and hardened vegetable oils. 

“If you replace tbe saturated fats you get from meat, eggs 
and dairy foods with unsaturated fats from plants and vegeta- 
bles, you’ll be in good shape,” he said. 


many eventually develop a 
chronic lung disease like chron- 
ic bronchitis or emphysema. 
But a new study has found that 
quitting smoking can repair 
some of the damage. 

The the results of the study, 
conducted at 10 medical centers 
in the United States and Cana- 
da under the direction of Dr. 


Nicholas R. Anthonisen of the 
University of Manitoba in Win- 
nipeg, are published in The 
Journal of the American Medi- 
cal Association. The study was 
supported by the National 
Heart, Lung and Blood Insti- 
tute in Bethesda, Maryland. 

The study involved nearly 
6,000 men and women who 
smoked. They appeared healthy 
but their lung function tests 
showed early signs of chronic 
obstructive pulmonary disease. 

The participants were 35 to 60 
years old and smoked an average 
of 31 cigarettes a day when the 


study began. They were divided 
into three groups. Two groups 
received intensive counseling on 
smoking along with a nicotine 
replacement to help them quit. 

One of the two smoking cessa- 
tion groups also got inhalant 
b ranch odilaiors to use daily in 
hopes that the medication would 
slow tbe loss of lung function. 

The third group received only 
periodic examinations and lung 
function tests like those re- 
ceived by all participants in the 
study. All the participants were 
followed for five years. Lung 
function was determined by 


measuring the volume of air the 
person’s lungs were able to ex- 
hale in one second. 

The use of broncbodilators 
provided only a small, tempo- 
rary benefit and had no long- 
term effect on delaying lung 
function decline. But stopping 
smoking had a significant ef- 
fect . especially among those 
who quit early in tbe study. 

All told, in the smoking cessa- 
tion groups, 22 percent quit and 
were stiD not smoking at the end 
of the study. These participants 
experienced on average a 2JS 
percent decline in lung function. 


comparable to the average age- 
related decline among people 
who never smoked. Those who 
continued to smoke experienced 
on average an 1 1.4 percent de- 
cline in lung function. 

■ Risk Among Women 

Smoking is more likely to 
cause lung canoer in women 
than it is in men, according to a 
new study, Reuters reported 
from London. 

Tbe British and Norwegian 
researchers said they did not 
know why this happened, but 
they decided it might mean that 


in the future more women than 
men mil develop lung cancer. 

“There has been preliminary 
evidence from the United States 
that women run about twice the 
risk of men of lung cancer from 
smoking,” said Dr. David Phil- 
lips, who led tbe research team. 
“Our results proride experimen- 
tal evidence for this hypothesis.” 

The study, sponsored by Brit- 
ain’s Institute of Cancer Re- 
search and Norway’s National 
Institute of Occupational 
Health, indicates that smoking 
somehow damages the DNA in 
women more. 


BOOKS 


BRIDGE 


PHARAOH’S ARMY: 
Memories of the Lost War 

By Tobias. Wolff. 221 pages. $23. 
Knopf. 

Reviewed by 

Judith Coburn 

T-T OW to capture war in art? 

Xl Especially Vietnam, a war 

so contested as to be stripped of 

the redemptive power of hero- 
ism. Replicate its insanity by 
dragging people into an artistic 
apocalypse, as did Oliver 
Stone? Plot the vortex of moral 
degradation, as did Robert 
Stone, America’s Solzhenitsyn. 
Report its absurdity through 
the wacko humor of its teenage 
grunts, as did Michael Heir? 
Comes now Tobias Wolff 


best known for his memoir of 
his childhood, “This Boy’s 
life” — with a riveting account 
erf his war as an American ad- 
viser to a South Vietnamese ar- 
tillery battalion in the Mekong 
Delta. 

“How do you tell such a terri- 
ble story?” asks Wolff. “Maybe 
such a story shouldn’t be told at 
afl. ... As soon as you open 
your mouth you have problems, 
problems of recollection, prob- 
lems of tone, ethical prob- 
lems. . . - Isn’t there, in the 
very act of confession, an ob- 
scene self-congratulation for 
the virtue required to see your 
mistake and own up to it? And 
isn’t it just like an American 
boy, to want you to admire his 
sorrow at tearing other people’s 
houses apart?” 


WHAT THEY'RE READING 


TQ OUR REAPER S IN BELGIUM 

It's never been easier to subscribe 
and save. Just call toll-free: 

0 800 1 7538 


• Elena Salgado M&ndez, 
Spain’s secretary-general for 
communications, is reading the 
Spanish translation of a collec- 
tion of letters between Arnold 
Schoenberg and Wassily Kan- 
dinsky, edited by Jelena Hahl- 
Kocfa. 

“Fm very interested in the re- 
lationship between different art 
forms, in this case tbe relation- 
ship between plastic art and mu- 
sic. (At Goodman, IBT) 



Wolff’s strategy is to tell M s 
story in an elegantly simple 
style and with a deceptively ca- 
sual voce. The tension between 
this form and the horror of the 
war’s content made this reader, 
anyway, fed by the book’s end 
as if somehow 1 had gone out of 
my mind without noticing. 

This is, as Wolff acknowl- 
edges early on, an account not 
of the Vietnam of gut-wrench- 
ing combat or spectacular her- 
oics, but of the daily grind of 
guerrilla war and the queasy 
partnership between Americans 
and their so-called Smith Viet- 
namese allies. As Wolff puts it. 


succinctly, “We did not die by 
the hundreds in pitched battles. 
We died a man at a time, at a 
pace most casual.” And, mare 
poetically: “The resolute impe- 
rial will was all played out here 
at empire’s fringe, lost in rancor 
and mud. Here were pharaoh’s 
chariots engulfed; his horsemen 
confused; and all his magnifi- 
cence dismayed.” 

Wolff uses such heroic prose 
sparingly. Mostly he tells sto- 
ries, awful, hilarious stories, of- 
ten at his own expense, of what 
it was like day-to-day, trying to 
get by. There is the one about 
the fake Viet Cong souvenirs he 


had his men make to sell to the 
American grunts, and what 
happened when he tried to res- 
cue the puppy the Vietnamese 
called Caxth Cho f“dog stew”). 

Wolff confesses a youthful 
passion for Hemingway, but it 
is astonishing to see Wolff’s 
kindred spare lucidity in tbe 
service of a story in which hero- 
ism never presents its face. But 
cowardice is not its subject ei- 
ther. Instead, with excruciating 
self-scrutiny he writes of his 
own heroic posturing in relief 
against his efforts to stay alive. 

No (me is better on bow it felt 
to be an American in Vietnam: 
“My special position did not 
make tne arrogant, not at first. It 
made me feel benevolent, gener- 
ous, protective, as if 1 were sur- 
rounded by children.” Or on the 
broken promises — tbe ccdor TV 
pledged to a peasant boy to hus- 
tle his mother but kept instead. 
Or the casual callousness of 
Ameri can g fan tisui — the bicy- 
cles crushed by Wolff's truck, 
the hooches blown down by 
choppers. And how easy it is to 
lay waste: “The process by 
which we helped destroy My 
Tbo [during the Tet offensive] 
seemed not of our making and at 


all times necessary and right 
. . . We pulverized hotels and 
houses, floor by floor, street by 
street block by block. I saw the 
map, I knew where the shells 
were going,, but 1 didn’t think of 
our targets as homes where ex- 
hausted and frightened people 
were praying for their lives. 
When you’re afraid, you will kfll 
anything that might kfil you. 
Now that the enemy bad the 
town, the town was the enemy.” 

And Wolff goes on to capture 
the exquisite ways tbe Vietnam- 
ese exacted their revenge. De- 
scribing one of his men dan- 
gling a puppy over a cooking 
fire, Wolff writes, “he wasn’t 
playing with the dog, be was 
playing with me, with my white- 
ness, my Americanness. my del- 
icate sentiments — everything 
that gave me my sense of supe- 
rior elevation.” 

How do you tell such a terri- 
ble story? Just the way Tobias 
Wolff has. 

Judith Coburn, who reported 
from Indochina in 1970 for the 
Village Voice and Far Eastern 
Economic Review, wrote this for 
The Washington Post 


By Alan Truscott 

I F you are dummy and peek 
into a defender’s hand, you 
lose rights: You may not point 
out an irregularity, or warn 
partner against leading from 
the wrong hand. 

Nevertheless, there is a 
strong temptation to peek at 
both defender’s hands and in 
one drcnmastance it is easy. If 
you are playing bridge on the 
Imagination computer net- 
work, the three other players 
are miles away and the program 
shows dummy all 52 cards. 

On die diagramed Imagina- 
tion deal played recently. Ri- 
chie Oshlag was tbe dummy in 
four hearts and could see all 
four hands. He saw the need to 
play the ace of hearts and drop 
the king , and hoped that his 
partner, Dave Smith would be 
equally perceptive looking at 
two hands. He was. 

The opening lead was a dia- 
mond, and South played low 
from dummy and ruffed East’s 

3 ueen. It was already probable 
lat West held the heart king, 
based on a bidding inference: 
East’s original pass marked him 
with at most 12 high-card 
points and probably fewer. 


The first trick indicated that 
East had begun with six high- 
card points in diamonds, and he 
was sure to have tbe ace or king 
of clubs. Why? Because West 
would have led an A-K combi- 
nation in preference to a dia- 
mond from the jack. 

South chose to postpone the 
issue and led dubs twice. This 
allowed him to locate the club 
ace, and tbe winning play of the 
heart ace became dear. 


NORTH (D) 
♦ K 4 3 2 
0 J9 
O K 9 6 4 
*QB4 

west -j-a 

♦ A 108 

iaq 

* K J 7 1a in 


EAST 
*975 
053 
0 AQ10 
A A 10 9 5 2 


SOUTH 
+ QX6 

0 AQ 1087942 
0 — 

*83 

East and West wet* -vulnerable. 
The bidding: 

North East South West 

Pass Pass 4 O Pass 

Pass Pass 

West led the diamond five. 


the easiest way to 
get back home without 
ruby slippers. 



COUNTRIES 

Antrim Samoa 
Antguo ( dnifcra od phoned 
Airigea (pay ptnra] 
Ai y m i t w* 

Armenia 

AMtafa (Optra) + 
Awkria (Telstra) * 

Austria ■ 

Ba h a m as 
taMna 
Belgian* + 

Bribe (horefa) 

BafaeO 
Bemrodo J 
MMa 
Brazil 

Mbll Virgin ki. A 


ACCESS NUMBERS COUNTRIES 


ACCESS NUMBERS COUNTRIES 


Canada ■“ 

Chile 

China (tngiUfa) +/ 
CUnn (Mandarin) +✓ 
CalomMoffr^W 
Colombia franhfc) 
Coda Boat 


603-1000 

#0 

1-800-366-4669 
DO- 1 -BOO-777- 1 1 1 1 
(-10-155 
COS-551 1-10 
1-HU11-177 
022603-014 
1-0OM3941I1 
14OO-877-8000 

0*00-100)4 

556 

*4 

1 - 800 - 623-0877 

0800-3333 

000-8016 

1400477-8000 

00600-1010 

14004774000 

00+U317 

lows 

I0W6 

080-1304110 

080-130-110 

163 

09-3-400*13 


Cyprus /ft 
Czech 8epuWc+/ 
Pi n na* + 
DoadnimhpaUbA 
Ecuador r' 

E»|rt (Q*a) + 

Efffpt (afl ottw) + 

B Salvador + 

Finland + 

France + 

Oanaany* 

Gf4*c4 + 

Guam 

Gaemaido + 

HambaM A 
Haag Rang 
Hoag *ang A 

Hangny +/ 
kriond *■ 
lndn + 

te do iunin 
be l aud ♦ 

luool + 

Italy + 

Jamaica - 


080 - 900-01 

0042087-187 

800-1-0577 

1- 800-751-7377 
ITT 

3564777 

02- 3564777 
191 

004-890-100-3 
0800-1 -0284 
10 #0067 
01800013 

000- 001-411 
950-1166 
195 

001 - BOO- 1 21 7000 
100-1877 

«» 

004- 800*1-877 
999-003 

000- 137 

001- 601-1 S 
140065-2001 
I77-M04727 
172-1877 
I-S0O-B77-8000 


Japcn (FDQ (EngfeH * 

Japan (1030] (Englbhlt 
Japofl [Jjpanme] + 

Karyo / 

Koran flhn i mtf * 

Koran (ICT) ♦♦ 
fcr»ofr 

LioddoofMa + 

Ldhuanio J 
Luxembourg 

Macao : 

Mnloytin ♦ 

M ar l ea + 

Momma + 

Nrih. Andos 

[Cm oca? 6 8om*o] + 
Nrinriaidi + 

Now Zealand .5 
(lmcMmfry eaUi) 

Ne« Zealand 

Nicaragua irinmgra (ra**) 6 
Nicaragua ( W i n g ra IbrabhH 
Nicaragua 1 —W4. H i ion ) 
Norway + 

Panama 

Paraguay A 


0066-55-877 

0039-131 

0066-55-B88 

0800-12 

0099-12 

009-16 

800-777 

155-9777 

S+197 

0800-01 15 

oeoo -121 

800-0016 

93-800-877-8000 

19+0087 

001-600-745.111 1 
06^O22-9U9 
BM -m.u a I*.-. 

00&*99 

171 

161 

02+fagUmSgariWix 

800-19877 

115 

QQ8-12-800 


COUNTRIES 

ACCESS NUMBERS 

COUNTRIES 


Foil/ 

196 

Tttay + 

00600-1-4477 

PfcBIppinu (EIPIdattaasadylOlOM) 

Ui Vhjin Ulomfa - 

1-800-877-8000 

PhinppioM (PJuKomJ A 

102611 

U-S-A. •» 

16006776000 

PhHppinw (PLOT! 

105-16 

Uaama 

8-100-15 

Wood + 

001 06600-1 15 

IMlad Arebtalramr + 

000-131 

Portugal + 

05017-1-877 

Unhid Kingdom (BT) 

080069-0877 

PoortaWcu- 

1-800677-8000 

United Kingdom (Mercury) 

050049-0877 

Romania +■ 

01-800-0877 

UvguBy- 

000417 

Rnura HW*] + 

1556133 

Vatican CBy + 

172-1877 

Kvflla (aB other) +■ 

■093-1556133 

Venezuela (Engfch) 

800-1111-0 

Saipan 

2356333 

Venezuela (Spaifafal 

800-1111-1 


Him and Rota +■ 
San Marino + 

Seuet Arabia 
Singapore * 

Sarah Africa + 

Spain 
Si LurioO 
felvcfcO 
Swodon + 

Swimrtand + 

Syria + 

Taiwan • 

Ihdimd/ 

IrHdod & Tobogo 
(parti el erary only] 


1-233- 0 3 3 3 

172-1877 

1000-15 

8000-177-177 

0- 800- 99-0001 
900-99-0013 

1 - 800-277-7466 
1ST 

020-799-011 

155-9777 

0888 

0080-14-0877 
001 -999-1 3-877 


Sprint. 


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C*- U4 CnUwg-aMl'Js^, ♦ Wr,,> I., Xuli t-v*. * Pubir clufr- arr, ,',«d ✓ ,1 m-i pl,*» A r*-l n-attM- h.raput |Aw - FONCAEObffinp Crilecfcall US MimalMa ..rf, hHWSMB ml k-adour-oio. 

;.|«w Olwiin 66 III m pn* n*-in«- pri- ir-l faun.ni wi k. ■ »■ *il tP*’ P A-mlBbU- i«t( l„M, ponw- -■ |n, itm-. * !■«*»' ■ l-'—J ifc-Jnm-i. rlrag,- w, jp, ^ 






































































fl'<f 




.. .. • t 



THS TWB INDEX: 1 14.76ft 

T2D 



.* ■ .. - ; 

::i •• . : - i • • ' * ' .■- 

r :.V lin ■ 


- -rr --:ai 

ViKSS* $y ; . -"■•• ",••“*■■ i'V >■•?; • . J; i 
so i . rt -t^. -.i &. t- , A. .t v-. . 


World Index 

1 3/1 6/94 close: 11-4, 76 
Previous: 114. 4G 


Asiir/Pacific 


Appmx.wej$ning:32% 
Close: 125.80 Prev.: 125.66 


j i_ 

O 


Approx, weighting, m 
0066:116.73 Prev.: 11821 


■J.. J L. 

N 

1994 



ISO 


North America 


Approt weighting: 26 % 

Oresa: 96.B5 Prey.: 96.81 


Latin America 


Approx, weighting: 5% 
Oosa 13089 Prev.: IS. 90 


130 





77W index tracts US. dtm values at stocks it Tokyo, New York, London, and 
Argentina, Australia, Austria, BMghim. Brazil. Canada. Chfis, Den marie, Finland. 
France, Germany, Hong Kong, Italy, Mexico, NMhsriands, Now Zealand, Norway, 
Singapore, Spain, Sweden, SwHrart ami and Venezuela. For Tokyo. New York and 
London, the Mot la composed et the 20 top issues in terms of market capkoSzation. 
otherwise the ten top stocks are tracked. 


Industrial Sectors 


Wed. 


Pm. 


Wed 


% 

change 


Enagy 113.82 113.30 +0.46 Capital Goods 116.07 115J32 +0.65 


Utfities 12824 128.63 -020 Raw Materials 


133.03 13237 +0.35 


Finance na69 11332 +0.15 Oonsumer Goods 105,56 104.78 +0.74 

Services 117.15 1 17,71 -0.48 Wscefianeom 12331 12231 +0.73 

For more information about ttie Index, a booklet Is available free a( charge. 
j kJNrite to Trit i Index. 181 Avenue Charles da Gertie , 92521 Neu&y Codex. France. 


O International Herald Tribune 


Second-Guessing the Fed’s Policy 

Wall Street Cheers, but Main Street Says 'Enough!’ 


By Louis Uchitelle 

New York Tima Semce 

NEW YORK —The Federal Reserve 
Board's decision to raise interest rates by 
the largest amount in years intensified a 
debate that focuses not so much on the 
amount of the rise but whether the Fed 
should have acted at alL 

On one side are those who applauded 
the Federal Reserve's action, most of 
them on Wall Street. They are challenged 
by an unlikely coalition of manufactur- 
ers and labor leaders who charged that 
the rate rise enacted Tuesday will slow 
the economy too much, cutting back 
sales and eliminating jobs. 

The word from Wall Street is that the 
economy is still too strong and that the 
central bank will have to raise rates again 
by early next year 10 control inflation. 

‘This increase is entirely justified, but 
it is not the last one in tins cycle,” said 
Henry Kaufman, a money manager, 
bond trader and economist in New York. 
“At some point in the next three months, 
they will have to act again. The economy 
is too strong to be greatly affected or 
slowed by the present level of rates.” 

Mr. Kaufman said the key short-term 
lending rate controlled by the Federal 
Reserve, which now stands at 5.50 per- 
cent, would have to reach 7 percent be- 
fore the economy begins 10 respond. 


Only then, he said, would there be a 
slowdown in auto sales, home construc- 
tion, consumer borrowing and the nu- 
merous other activities that now keep the 
American economy growing briskly. 

But for Jerry Jasinowski, president of 
the National Association of Manufactur- 
ers. the Fed move Tuesday may prove to 
be the straw that breaks the back of the 
economy — and unnecessarily so. 

“The Fed is fundamentally misreading 
the American economy,” Mr. Jasinowski 
said. “They ought to get out from behind 
their desks and see what is really happen- 
ing in plants and on factory floors across 
the country.” 

The largest labor organization in the 
country, the AFL-CIO, agreed. “What 
they are doing,” said John ZaJusky, an 
economist ai the labor federation, “is 
coming down on the side of the bloody 
bondholders who don't want inflation to 
undermine the value of their bonds.” 

Just as industry and organized labor 
put aside differences to oppose a rate 
m crease. Wall Street also closed ranks 
behind the Fed's action. 

Mr. Kaufman 's sentiments echoed 
across the fimmrial markets, silencing an 
internal squabble between those who fa- 
vored a bigger rate increase — perhaps a 
full percentage point — and others who 
had said that half a point would be 


enough to slow the economy. Slower 
growth reduces the risk of sharply rising 
prices. 

David M. Jones, chief economist at 
Aubrey G. Lanstocu a Wall Street bond- 
trading bouse, was in the camp that be- 
lieved a half-point increase would have 
been enough for the moment 

“Alan Greenspan is starting to fall 
into a pattern,” Mr. Jones said, referring 
to the Federal Reserve Board chair man. 
“He i$ analyzing the data slowly between 
increases and recognizing the possibility 
that the economy might be able to grow 
more strongly than in the past, without 
more inflation.” 

There have been six rate increases so 
far, spread out over the past 10 months. 

Mr. Jones touched on a theme that 
increasingly concerns the Clinton ad- 
ministration, as well as many economists 
outside Wall Street. Even some officials 
at the Federal Reserve are starting to 
question whether the economy has 
changed so profoundly that it has* more 
capacity for noninflationaiy growth than 
is generally believed. 

The Federal Reserve, in a statement 
Tuesday explaining the latest rate in- 
crease — the biggest since 1981 — said 
its action had been taken against “persis- 

See FED, Page 12 


Industrial Invest 


II 


ent in China Slows 


By Kevin Muiphy 

International Herald Tribune 

HONG KONG — New in- 
vestments by China's state-run 
industrial sector fell in October, 
the government reported 
Wednesday, which raised confi- 
dence in Beijing's ability to rein 
in its fast-growing economy. 

But as evidence mounts that 
the overall cost of living has 
increased despite lower whole- 
sale prices of nonfood items, a 
quick solution to China's peril- 
ously high urban inflation re- 
mains elusive, analysts said. 

China’s State Statistical Bu- 
reau reported Wednesday that 
the rate of growth in fixed in- 
vestment by state-owned busi- 


nesses was 22J percent in Octo- 
ber, compared with a year 
earlier, down significantly from 
46.1 percent in September. 

This rate of expansion, a 
leading indicator of eventual 
demand for raw materials, ma- 
chinery and property, also was 
weQ below the corresponding 
figure for the first nine months 
of the year, 43.9 percent 

Analysts said the lower fixed- 
asset investments should even- 
tually filter through to ease in- 
flationary pressures in large 
sectors of the economy. 

. “I'm thrilled to see these sta- 
tistics,” said Andrew Freris. 
chief regional economist for 
Salomon Brothers Inc in Hong 


Kong. “This stands as a proxy 
on money supply. If the num- 
bers are correct it's almost too 
good to be true” 

Urban retail prices rose at an 
annual rate of more than 27 
percent in September, continu- 
ing a trend that has alarmed a 
Chinese leadership worried 
about domestic stability and in- 
ternational investors who are 
rapidly increasing their expo- 
sure to a fast growing but chaot- 
ic economy. 

“The slowdown in invest- 
ment indicates credit has been 
tightened recently,” Elizabeth 
Cheng, China analyst at James 
Capel Asia in Hong Kong, told 
Bloomberg Business News. 


■ Lehman Sues China Firms 

Chinese companies being 
sued by L ehman Brothers Inc. 
have blamed government aus- 
terity measures for their de- 
faulting on obligations, Bloom- 
berg Business News reported. 

The U.S. investment compa- 
ny is seeking $44 milli on plus 
interest from China Unitea Pe- 
troleum Chemicals and $53.5 
million plus interest from M in- 
metals International Non-Fer- 
rous Metals Trading Co., ac- 
cording to complaints filed in 
federal court in New York. 

Both companies suffered 
large losses while trading for- 
eign currencies and related fi- 
nancial products. 


Indonesia Signs 
Major Gas Pact 
With Exxon 


By Michael Richardson 

IniernariOBal Herald Tribune 

JAKARTA — In a deal ex- 
pected to open the market for 
clean-burning natural gas in 
Asia, Exxon Corp, on Wednes- 
day signed an agreement with 
Indonesia to proceed with the 
world's largest offshore gas de- 
velopment project at a cost of as 
much as $40 billion. 

The deal signed on the last 
day of a visit to Indonesia by 
President Bill Clinton, who 
made export-related jobs and 
investments a major theme of 
his South East Asian tour. 

Already one-third of U.S. ex- 
ports go to East Asia, which is in 
the midst of rapid economic 
growth and industrialization. 
Those exports support more 
than 2 milli on American jobs, 
a dminis tration officials said. 

Mr. Clinton told U.S. and 
regional business leaders that if 
America was “vigorous and ef- 
fective” over the next decade, 
“Asia could add more than 1.8 
million jobs to the American 
economy, jobs that pay on aver- 
age 13 percent above nonex- 
port-related jobs.” 

Lee R. Raymond, Exxon's 
chair man, said the agreement 
on development terms with the 
Indonesian government and the 
state-owned national oil com- 
pany, Per tamina, “symbolizes 
the growth of the Asian energy 
market, as well as the opportu- 
nity to utilize advanced tech- 
nology to serve that market.” 

Exxon officials refused to 
disclose tax arrangements or 
the formula for sharing gas and 
profits. 

In the late 1980s, the preyed 
was expected to cost no more 
than $18 billion to bring into 
full production. On Wednes- 
day, Exxon estimated the total 
investment at $40 billion. 

A. Norris Crownover Jr., 
president of PT Esso Indonesia, 
another Exxon unit, said dis- 


posal of the carbon dioxide in 
an environmentally safe man- 
ner was largely responsible for 
“ail the extra money.” 

The project is owned 50-50 
by Pertamina and Esso Explo- 
ration and Production Natuna 
Inc., an Exxon unit 

Its completion would secure 
Indonesia’s position as the 
world's leading exporter of liq- 
uefied natural gas, said Mr. 
Murdiono, Indonesia’s state 


secretary. 

But analysts said first LNG 
deliveries were unlikely (o take 
place before 2003. 

Esso Exploration will man- 
age and operate the project, 
which involves major technical 
and environmental challenges. 

In 1993, Indonesia sold 
around 25 mini on tons of LNG 
worth more than $4 billion, 
mainly to Japanese utilities. 

Mr. Crownover, said that the 
next step would involve sales 
negotiations with potential 
LNG buyers in Asia 
He cited growing demand for 
LNG in the region because “it's 
fully recognized that gas is a 
clean-burning fuel that is 
friendly to the environment” 
Mr. Crownover said that 
buyers could include Japanese. 
South Korean and Taiwan utili- 
ties, which already have con- 
tracts for Indonesian LNG and 
“other potential energy markets 
here in the Far East” 

The giant new gas field that 
Exxon and Pertamina plan to 
develop is in the South China 
Sea about 1,200 kilometers (750 
miles) north of Jakarta and 225 
kilometers northeast of Indone- 
sia's Natuna Island. It lies within 
a zone of the sea over which 
Beijing claims territorial control. 

Exxon officials said that the 
Natuna field could produce 
about 15 million tons of LNG a 
year at capacity and had enough 
reserves to continue at this level 
for more than 30 years. 


INTERNATIONAL MANAGER 


Doc Martens to Stomp Into London 


By Erik Ipsen 

International Herald Tribune 

L ONDON — Dr. Martens, the 
brand whose heavy-soled work 
boots strike dread in parents’ 
hearts the world over, is plot- 
ting a fresh assault on the citadels of 
popular taste. 

On Wednesday, with the company’s 
own 46-piece marching band belting out 
“These Boots Are Made for WaBrin,’ ” 
Dr. Martens will loudly open its first 
department store in London's Covent 
Garden. 

What is more, the company that owns 
Dr. Martens — R. Griggs Group Ltd., 
based in Wollaston in toe English Mid- 
lands — promises to repeat the perfor- 
mance in major cities around the world 
in the next two years. 

For Griggs, this first store marks a 
tu rning point Stephen Gri ggs , the fifth 
generation of his family to head the 
group, concedes that the store is a bit of a 
“step into the unknown.” But he quickly 
changes gear to the sort of cheeky brash- 
ness the brand has become synonymous 
with. 

“Our ambitions are pretty high, really,” 
Mr. Griggs, a pudgy 33 -yMr-old. s^s 
with a chuckle. “We aim to be the toird- 
largest tourist attraction in London, ne 
predicts that soon, tourists irill have to 
have their pictures taken at Parliament, 
the Tower of London and Dr. Martens. 

It was 35 years ago that a German 
doctor, Claus Maertens, licensed his iaea 
for a therapeutic shoe with an air cushion 
insole to Griggs. 


The first so-called Air Wear product 
was a sturdy eight-eyelet work boot that 
came off of the assembly line on April 
FooFs Day in 1960. It has since been 
known as the “1460” model: first day, 
fourth month, 60th year. 

Originally, Griggs achieved success 
with Dr. Martens as a strictly utilitarian 
item. It was only in the 1970s that its 
image got what turned out to be its 



commercially crucial bit of trashing, — as 
the chosen footwear of a generation of 
English skinheads and neo-Nazis. 

In the 1980s, the shoes covered toe feet 
of the rock stare Sting, Paul McCartney 
and Elvis Costello. Then millions of 
teenagerc, most of them women, began 
wearing them. 

“The 1460 is made exactly as we did 34 
years ago, except now, instead of being 
sold to postmen and policemen, 60 per- 
cent or 70 percent of them are sold to 
girls,” said Roger Shelton, man ag in g di- 
rector of Griggs. “Parents hale them, so 
kids love them.” 

While the eight-eyelet model contin- 


ues to be its top seller, toe company has 
steadily expanded its offerings. Its cata- 
log now runs to 41 pages and includes 
the steel-capped boot that is the compa- 
ny’s top seller in fashion-conscious 
France and Italy, as well as floral-print 
children’s models and Open Air Wear 
sandals. 

For Dr. Martens, image is everything. 
Increasingly, Griggs executives talk not 
of their dices, but of their brand. 

Others also make flattering parallels. 
“Doc Martens are like Levis,” said Ash- 
ley Heath, fashion editor of The Face 
magazine. “They have crossed over and 
transcended any notion of being a cult 
item or temporary fad.” 

With 2,700 employees, a production 
capacity of 10 million shoes a year and 
worldwide sales expected to top £170 
million ($269 million) this year, the fam- 
ily-owned Griggs Group is on the boil. 
Its six-story London store wfl] sell not 
rally shoes bui Dr. Martens watches, 
belts, school tablets, even food, 

Mr. Griggs envisions his London em- 
porium as the first of perhaps three doz- 
en stores around the world. 

All the accessories — the nonshoe 
items — are made for Griggs under li- 
cense, to the company^ own designs. 
The company, which prides itself cm its 
quirky Enghshness, is also considering 
making its shoes overseas. 

“If we want to get into markets like 
Russia or China, we have got to have 
local sourcing of our products,” Mr. 
Shelton said. 



Cross Ratos 

t * OM. 
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NOV. 16 

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me donor: *; w** * m; N & : *' ^ ** 


Eurocurrency Deposits 

Swiss 

Dollar D-Mark Franc 

Start lag 

French 

Franc 

Yen 

Nov. 16 

ECU 

ImofOti 

5YW» 


3**3 i*. 

S*LrS*l. 

5 5V5 7. 

2thr2V. 

5VMfo 

Smooths 

5Vr5^ 

5«r5* 

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5%r4 h> 

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Sto-5% 

6 months 

6*4* 

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triUk 

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6«r4fe 

5VW3k 

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7%-TA 

fivwwi 

W&t 

6 VWfc 


Sources: Reuters. Uards Bank. 

Katas aaOcabk h kderbank deposits afSTmfflton mMawm forewtortW/ 


Kay Honey Rates 


United State* 


Close Prev. 


Cutwcv 

MW. peso 

nZMlteodS 

Marw. krone 

PtlttPC* 

PnHSBflDtV 

pnrt.eWd 0 
Buss, rate* 
saudt rhml 
SM.1 


PWS 

iM* 

UU2 

M145 

2433 

23M7. 

15878 

314800 

3JSU 

1.4728 


Currency 
s. Air. rand 
S.Kor.won 
SwW.1 tneo 

Tota« * 

Thai bedri 
Turkish lira 

UAEtert"" 

yuetMOv- 


Pert 

15192 
79770 
7391 4 
2820 
94.99 
34349. 
1472 
169.57 


m mna t wh 414 4J30 

prime rate SMWTO 

Fedval foods 5% 5% 

3 +nouth cos 5-00 800 

CmoLpaperlMdars 5.90 M6 

5+noote Treasury W 134 537 

l^nar Treatary bm 6.17 816 

*y«ar UrtoRSYMto 7.12 7JS 

5-y*ar Treasury no» ITS 7J8 

Wear Treason mete 7JS 7J0 

Treasury note 757 7-91 

3t.ywr Treason hood 809 8M 

fttfriH Lynch JMay ready asset 851 449 


Muonrtrote 


Wooh bdertaak 


1% 

223 

2V. 


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3t4ny 4 Mo» 9Mny 
I J632 13430 U63T 

££ «« »*« 


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FaHESKSt-.-"" 


nttmd 



OdH I 
i-monthl 

smooth mterfc m * 
tmoortiMcriHoK 

IMVOTStMl 


132 133 

1M 244 
80 846 


400 400 

Cbd. SOB 

— 500 

. — 520 

— 530 

— 7J 9 


EU Bocks Down on Airline Subsidy Ban 


By Erik Ipsen 

International Herald Tribune 

LONDON — In a hotly debated move, 
the European Commission on Wednesday 
backed away from recent attempts to crack 
down on state aid to airlines. 

Specifically, the 17 commissioners 
unanim ously approved 33 pages of new 
guidelines for state aid that failed to in- 
clude recent recommendations restricting 
government bailouts of struggling carriers. 

Instead, the commission voted to allow 
airlines to reapply for state aid ‘in excep- 
tional circumstances.” 

“It marks an unfortunate retreat,” said 
Konstantine Adamantopoulous, a lawyer 
with Hammond Suddaids, a Brussels law 
firm that specializes in EU matters. 

Earlier this year, a committee empow- 
ered by the commission to look into the 
prickly problems of state aid to toe air 


transport industry had recommended that 
such funding be granted only on a “first 
time, last lime” basis. In other words, ail- 
ing airlines were to gel one shot only at 
getting back on course. 

Karel Van Miert, the commissioner for 
transportation and competition, was 
amount those who had hailed the more 
restrictive approach. As recently as last 
week, he said that airlines that had received 
government aid “should not come knocking 
on the commission’s door again.” 

Critics said that toe guidelines approved 
Wednesday represented an about-face. 

But some industry executives said the 
new guidelines only reflected toe law. Un- 
der toe Treaty of Rome, under which the 
commission was founded, airlines are spe- 
cifically entitled to receive aid “in excep- 
tional circumstances.'* 

“The commission has to abide by toe 


Treaty of Rome and so be it," said a 
spokesman for British Midland Airlines, a 
harsh critic of state aid. “We would just 
hope that they would look even harder 
certainly at second- and third-time appli- 
cations to see whether they are good for the 
air traveler and for competition." 

The new guidelines were part of an ef- 
fort by the commission to clarify once and 
for all the murky conditions under which it 
would approve state aid. So far, observers 
noted that the six airlines have gone before 
the commission seeking approval of cash 
injections from state coffers, and all have 
secured the nod from Brussels. 

Observers in Brussels noted that by fail- 
ing to specifically adopt the first lime, last 
time rule, the Commission has thrown 
open the door to repeated bailouts of trou- 
bled carriers after a brief period when it 
seemed to be cracking down. 


Default May Be Looming 
At Rockefeller Group Inc. 


Brttate 

Book bate rate 
Coll money 

l*awM kriertmric 
Smote Meriiaiik 
Hnontb kUeftaak 
WwrGDi 
France 

infcrvetrtttMrate 

CaHmeaev 
l-mostttotertw* 

S+nanfti tetertw* 

{-moafti Wertaofi 
U+nrOAT 
Sources: Haulers. Bkmnttere. Merrill 
Lynch. Bank et Tokyo, Commerzbank. 
GnomeaMetdaeu. Ow« Lyotmafs. 

Gold 

AJA. PM. c fc’se 

Zurich 3B555 38825 -040 

LOAdOO 38540 38425 -845 

New Yard 38400 38600 - 040 

US. donors per ounce. London offtdat On- 
toss; ZurimoiVl New York otnmlaaaadckx. 
log prices; New York Cemex fDeeemtarJ 
Source: Reuters. 


The Associated Press 

NEW YORK — Rockefeller 
Group Ina, the company that 
owns Rockefeller Center, may 

be close to defaulting on mort- 
gage repayments on the proper- 
ty, according to a government 
filing by toe company that 
holds toe $13 billion mortgage. 

In its quarterly filing with the 
Securities and Exchange Com- 
mission on Monday, Rockefel- 
ler Center Properties Inc. said 
the Rockefeller Group's “cash 
shortfalls” raised “substantial 
doubt about the borrower’s 
ability to continue as a going 
concern.” 

The statement indicates that 
the financial condition of 
Rockefeller Group has deterio- 
rated beyond what was expect- 
ed at the end of 1993, according 
to accountants who specialize 
in real estate. 

Hie filing also said Rockefel- 
ler Group expected these oper- 
~~*~i losses to continue and 
Id be unable to make its 


rates made its purchase; the real 
estate market in New York col- 
lapsed. The Japanese company, 
which now owns 80 percent of 
Rockfefler Group, was forced 
to subsidize the gap between 
Rockefeller Center's rental in- 
come and its mortgage pay- 
ments. 


CHARTER 


THE AIRCRAFT 
FOR YOUR 
~ ^ BUSINESS 

SALES • MANAGEMENT 


ALG AEROLEASJNG 


GENEVA • ZUP:CK • LUGANO • NEV. YORK • HOUSTON • 
PAF::5 • SFUSS-LS • SSSt-^J • HAMSURG • MACRO • 
k‘ev • Kinshasa * Singapore • beijing 


ClIcjL 


Geneva 41-22/798 45 10 Zurich 41-01 /814 37 00 


5* 5* 

5% 5U 
5te 554 
6 6» 
6h 48k 
043 847 

540 540 

5 » 5W 
5* Sh 
5% 5% 

51W 5* 

813 810 


ditiotiaT contributions from its 
owners. 

“The borrower does not have 
commitments from its partners 
or any related affiliate to fund 
these cash shortfalls,” the filing 
said. 

A default on the loan could 
be a setback for one of the most 
prominent Japanese invest- 
ments in the United Slates: the 
$1.4 billion controlling interest 
in Rockefeller Center bought 
by Mitsubishi Estates Co. in 
1989 from the heirs of John D. 
Rockefeller Jr. 

Shortly after Mitsubishi Es- 




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Page 12 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 


MARKET DIARY 


Stocks Rise as Fears 
Over Rates Dwindle 


NEW YORK —Stock prices 
rose Wednesday as rising oil 
and auto issues blunted concern 
that the Federal Reserve 
Board’s decision Tuesday to 
raise interest rates would slow 
the economy and threaten cor- 
porate profits. 

The Dow Jones industrial av- 
erage dosed 18.84 points high- 

UAStocta 

er. at 3,845.20, but declining 
shares led advancing issues by 
about 6 to 5 on the New York 
Stock Exchange. Volume to- 
taled 297 milli on shares. 

The Dow was buoyed by 
Eastman Kodak, which dosed 
up 2, at 49%, Procter & Gam- 
ble, which ended 1 % higher, at 
63%, and United Technologies, 
which finished up 1%, at 59%. 

The rise in auto issues was led 
by Chrysler, which rose I x k, to 
51. General Motors rose ft, to 
39ft. Some analysts said higher 
interest rates had not slowed 
the industry’s growth prospects. 

The benchmark 30-year 
Treasury bond was down 
21/32, to 93 11/32, for a yield 


of 8.09 percent, up from 8.04 
percent Tuesday. 

Traders said that despite the 
good performance of blue-chip 
issues, investors were still con- 
cerned about the potential ef- 
fects of higher interest rates 
even after the Federal Reserve 
Board raised short-term interest 
rates three-quarters of a per- 
centage point Tuesday. 

Boeing stock rose 1ft, to 45ft, 
after the company said it was in 
talks with Chinese aircraft mak- 
ers about participating in a pro- 
ject to manufacture small jets 
for the rapidly growing Asian 
aviation market. 

Digital Equipment shares 
rose 2ft, to 36, after Goldman 
Sachs added (he company to its 
list of slocks recommended for 
purchase. 

Medstat rose 9‘A, to 2 6ft, af- 
ter Thomson agreed to buy the 
company for about $339 mil- 
lion. 

Atari rose 7/16, to 5ft, after 
the video-games company said 
Sega Enterprises, the Japanese 
video game giant, had won reg- 
ulatory approval to make a $90 
million investment in Atari. 

( Bloomberg, AP, Reuters) 


DOULAR: Better Days Ahead? 


Continued from Page 1 

where traders don’t want to 
trade and investors don’t want 
to invest,*' he said. “This means 
we won't have an instantaneous 
recovery, but one which 
builds.’* 

After the big losses sustained 
this year by investors who had 
expected the dollar to rally, Mr. 
Chertkow added that it was not 
surprising that “the bets on the 
table are not anything like the 

Foreign Exchange 

size that were on the table at the 
start of the year. Therefore, it 
will take longer to gel a sus- 
tained dollar rally started.'’ 

John Lipsky at Salomon 
Brothers in New York sees the 
main risk to the dollar depen- 
dent on how quickly the Fed 
responds to data in the coming 
months showing any accelera- 
tion in the rate of inflation. As a 
result, he said, “there’s no justi- 
fication for a big rise in the 
dollar from where we are now.” 

“The U.S. bond market re- 
mains vulnerable to an upturn 
in inflation, and will remain 
vulnerable until there is a clear 
sign of decelerating economic 
growth, “ he said. 

“So long as the risk re mains 
for higher bond yields and new 
tightening by tbe Fed, foreign 
investors are unlikely to take a 
significantly more positive view 
to increasing their exposure to 
U.S. assets. And until that oc- 


curs, there’s little chance that 
tbe dollar could strengthen sub- 
stantially.” 

He added that “if U.S. infla- 
tion were to worsen and the 
bond market were to sell off — 
which remains a risk — then 
there is also a risk of renewed 
dollar weakness.” 

Michael Burke at Gtibank in 
London said he saw “some 
pick-up in activity on the buy- 
ing side” and estimated that the 
dollar is now “well supported.” 
He said that “at best" the dollar 
could rise over the next year to a 
high of 1.67 DM, but that it 
would then fall back. 

Analysts at S.G. Warburg 
said they doubted that tbe cur- 
rent rally would cany the dollar 
much above US DM and ex- 
pected a renewed decline in the 
new year to below 1_50 DM and 
below 95 yen. 

■ Dollar Consolidates 

Traders said the softening of 
the dollar was mostly a consoli- 


Vrfi Associated Pi c 


Nov 16 


The Dow 



36»' 


M«r 

1594 ! 


J A SO N 


NYSE Most Actives 



VoL MgA 

LOW 

Lest 

Chg. 

R JR Nab 


Cft 

ift 

_ 

Chryslr 

58306 51ft 

49ft 

51 

♦ 1ft 

TeiMex 


52 

52ft 

♦ ta 

Dkptai 

W • fi tti 

34ft 

36 

♦ 2ft 

AT&T 

33751 53 

51ft 

51ft 

—1ft 

GnMotr 

33744 39ft 

3Sft 

39ft 

*ft 

Wauviart 

34847 23ft 

23'A 

23ft 

—ft 

Kmart 


14ft 

1 5 VI 

•ft 

CnpOnen 

24620 tfift 

16 

16 

_ 

Am Exp 

23479 31 Vi 

31ft 

31ft 


Fingerfit 

23248 17ft 

lSVi 

16 

—15k 

Motorias 

20800 MW 

S9ft 

60ft 

♦ ft 

HOuJnd 

■ . . 4. M Am 

32ft 

32ft 

—ft 

FordMS 


23ft 

28ft 

—Vs 

EnrGPn 

19013 24ft 

24ft 

24ft 

— 


Dow Jones Averages 


Opm MMi Low Loot ant. 
Indus W3W0 3E45J4 3820.31 384560 - 

Trans M0X44 1486X4 14*033 143147 — 0.70 
UNI 17AM 177-23 174.05 17AM —020 
Como 1?7 SjS5 1279JB 1274.14 1279.47 - 1.13 


St an d ard & Poor's Indexes 


Industrial* 
Transit 
Ultima 
Finance 
SP 500 
SP 100 


Previous 
Mtgti Law 
55853 551.7 0 5SAZ3 

35653 352J9 354.17 

ISfcSS 144*7 VT *M 
4301 052 CU4 

44851 442.95 44503 

43500 43001 43200 


55500 
354.19 
14 US 
OX 
44542 
43300 


NYSE Indexes 


hkoi Law Loa On. 

Composite 255.03 2501 25*71 -0.19 

Industrie** 323.15 332.12 323.15 - 077 

Tronso. 229.35 228JS 228.92 - 050 

Utility 19979 198.70 199.12 —050 

Finance 20045 199.41 199.44 —095 


NASDAQ Indexes 


Mgh Law Last ats. 

Commit* 77004 74859 74093 —009 

Industrials 78051 77704 77042 -085 

Bonks 71070 70044 70044 —005 

Insurance 907.90 90503 90459 -056 

Finance 89255 88753 89753 —402 

Transo. 47850 47405 47702 —107 


AMEX Stock Index 


NASDAQ Most Actives 


CirmdCr 

Medan, 

TelCmA 

Novell 

Canondte 

Informix 

Intel 

Melhanx 

JPFood 

itmiei 

DSC i 

Oscos 

MICS»S 

MO 

NotG VPS 


vol Man 

53002 ft 
48237 27% 
42598 23% 
42567 19% 
29487 14W 
24934 28 
24218 41% 
25510 14% 


LOW 

*u 

25Vj 

22 % 

IBW» 

13% 

26ft 

60% 

MVs 

11 % 


Last 

9r 

26 V, 
23% 
19 
13% 
28 
61% 
14ft 
11 % 


Cho- 

-■/» 
+ 9'i 
*% 
+ ft 

+i«S 

— V» 
♦ft 


AMEX Most Actives 


Viocvrt 

VhJCB 
EXX An 
RayatO a 
InterOia 
Ben 
X CL Ltd 
SBMind 
Cctieffl n 
USBkfsd 


VoL 

Htoh 

LOW 

Last 

chg. 

25505 

TV). 

1ft 

IV, . 

+v„ 

9371 

40ft 

39ft 

39ft 

—ft 

5319 34ft 

28ft 

28ft 

♦ 3ft 

4886 3>Vu 

3w h 

3Wu 

—ft 

4859 

3ft 

3 

3 

— Vu 

4S2B 33ft 

33 

33ft 

♦ ft 

3785 

TVii 

1 

TV„ 

+ Vu 

3457 

20ft 

1ST. 

18 

♦ 3ft 

3279 

Sft 

7ft 

PA 

— h 

3276 

8 

7ft 

7ft 

—ft 


Market Sales 


NYSE 

Amex 

Nosdoa 
In millions. 


Today 

Close 

296.98 

17.98 

29A98 


Prey. 

con. 

408.13 

3409 

32005 


Htoh 

Lew Lost 

Chg. 

44865 

447D0 448X7 

—0X4 

Dew Jones Bond Averages 

a Bonds 

10 Utilities 

TO Industrials 

Claw 

8961 

99 JB 

cirge 

— *03 
+ 006 

— 012 

NYSE Diary 


Advanced 
Declined 
Uncharged 
Total issues 
New Highs 
New Lows 


1040 

1206 

679 

2925 

22 

147 


1127 

1103 

497 

2927 

38 

300 


AMEX Diary 


20847 14ft 
20395 34ft 

13ft 

XT', 

13ft 

34ft 

—1ft 

-ft 


Close 

Prev. 

19003 34 

33ft 

37ft 



273 

264 


64ft 

64ft 



319 

315 

18116 22ft 

21ft 

21ft 



225 

243 

17804 45V, 





817 






New Highs 

9 

11 





New Lows 

30 

37 


NASDAQ Diary 


dose Prev. 


Advonced 

Dedlned 


Total Issues 
NewHtghs 
New Lows 


1499 

1705 

1927 

5131 

96 

141 


1647 

1549 

1908 

5174 

107 

124 


Spot Commodities 


Commodity 
Aluminum. U> 

Capper electrolytic, U> 
Iran FOB, m 
LaotLIb 
Silver, fray « 

Steel (scrap). ten 
Tin lb 
Zinc lb 


Today 

0853 

21100 

0.44 

5lS4 

12740 

sss 


0443 

109 

21100 

0X4 

5215 

12740 

4.1303 

05796 


EUROPEAN FimntES 


Metals 

Close 

Aft BM Aft 

3Beaa8mu mm 

COPPER CATHOMSmSi traitl 
t metric Ton 


OT4DQ 


mS> 


571001 

49050 


Dalian per 

Fmword 285x31 MSX OQ 

LEAD 

Oouars per metric ten 
toot . <8140 68240 

Jjogmta .49940 70840 

Dolton per metric tw 

tool 769840 770040 755040 756040 

Fcjnwrd 782040 783040 767340 767740 

Dollars per metric ton 
Spot 421540 6796 or 420040 421040 

Forward 531040 432040 Sncm 

ziNCtSpedai Hlab Grade] 

DeUars per metric ten 

|Pat_ . 118400 118740 114440 114540 

Forward 121140 T71240 118940 119040 


Financial 


HtaB 


Low 


dose CboRoe 

j^jONTH STERLING (LIFFE) 
ssoaooo . pts of m pet 


Jon 

ss 

Mar 

Jen 

Sep 

Dec 

Mar 

Jon 


91.19 

N26 

9048 

9040 


9356 

9272 

92.14 
9L71 
9156 

91.14 

9047 
9042 
9044 
9XB 
9050 

9048 


9349 

9295 

9254 

9143 

9158 

%% 

MBS 

9074 

9047 

9045_ 


+ 0.10 
+ 014 
+ 0.15 
+ 015 
+013 
+ 012 
+ 012 
+au 
+012 
+649 
+ 048 
+048 


st. volume: T9&97Z Open Int: 497447. 

HS B-WWBf""* 

as » » as =» 

Jen 9294 9254 9284 —012 

V 9259 9258 9251 —046 

Est. volume: 504. Open Int.; 4J81. 

3-MONTH 

DM1 an Won- pts of MO 
Dec 9454 9442 9452 — 003 

Mar 9446 9440 9461 —044 

Jen 9454 9426 9457 —048 

Sep 9355 9348 9358 — 048 

2 “ £-5 S 4 ? nxo — ooe 

Mar 9028 9351 9022 —048 

Jan 9X02 9254 9256 —049 

Sep 9276 9270 9270 — 008 

DK 9251 92.47 9244 —008 

Mar 9242 9254 9236 —007 

Jun 9250 9227 9227 — 046 

Sep 9223 9219 9218 —046 

Est. volume: 92572 Open Int.: 707534 
3-MONTH PIBOR (MAT IF) 

FF5 minion - pta ol HO pet 
Dbc 9451 9426 9450 +043 

MOT 9X89 9284 9347 +083 

9153 9X46 9351 +004 

93X1 9X13 9118 +042 

:r - 92D8 9280 9285 +041 

fiftar njs 9254 9260 +041 

JDO 9M7 9231 9235 + 041 

Sep 9218 9212 9214 +041 

Est. volume: 59575. Open bit.: 189,103. 
LONG GILT (LIFFE) 

' " ad* at mpet 


- pts « 32m* 

Dec HQ-23 101-17 102-06 +0-03 

OT 101-28 100-28 101-11 +044 

EsLvohane: 112*00. Open Hit- 109410 
GERMAN GOVERNMENT BUND (LIFFE) 
DM 398400" pts el ISO pcf 
Dec 9070 90.12 90.17 —0X8 

Est. volume; 159515. Open EnL?20A58A ^ 

SWaRM? BONDS w™ 


DOC 

11160 

11*90 

111.18 

—*20 

MOT 

11*66 

IW. 14 

11*36 

—0X0 

jin 

10964 

10962 

109.52 

— *20 

see 

10*7* 

10*7* 

KHL7B 

—0X0 


EsL volume: 179,306. Open Int.: 150430 


Industrials 

Hi* Low Last sente aroe 
GASOIL (I PE) 

U5. dollars Per metric tea-tot* of iae tons 
Dec 15235 14955 14955 14955 — 150 

Jim 15425 151.75 15475 15175 —150 

Feb 15475 15X25 15025 15X25 —145 

15475 15240 15225 15X25 —140 



High 

LOW 

LOkt 

sottiv ora* 

Apr 

1ST JO 

151 JO 

151 JO 

DUO — tJO 

May 

N.T. 

N.T. 

N.T. 

151X5 —1-20 

jane 

151X3 

15*23 

15*29 

150X5 —IDO 

July 

N.T. 

NX 

N.T. 

15X00 —1J0 

Aug 

N.T. 

N.T. 

N.T. 

15175 —IDO 

Sw 

N.T. 

N.T. 

NX 

155J0 —1D0 

Oct 

N.T. 

N.T. 

N.T. 

157 JO —IDO 

NOV 

N.T. 

N.T.- 

NX 

159X5 — LOO 


Est. volume: 14491 . Oncn InL 9X027 

BRIttT CRUDE OIL (IPE) 

U5. dollars per barrel-lot] of lsoo barrels 

16X6 1445 — 024 

1441 IASI —018 
J6X2 1A19 —0.14 
J6.15 1A11 —014 

16.10 1446 — 047 

1641 1543 — 0.10 

1AM 1444 — 046 
NX 1648 — 045 
fLT. 1AT2 —044 
NX 1A16 — 043 
M.T. 1A20 —02 
Est. volume: 49563. Open ML 144,590 


DOC 

16XS 

16X4 

Job 

1*61 

16X2 

Feb 

1668 

16.16 

Mor 

16X8 

1&.15 

Apr 

16X5 

1*10 

May 

1660 

1*03 

Jon 

1*17 

16X3 

Jlr 

NX 

N.T. 

Aug 

N.T. 

N.T. 

S«p 

NX. 

NX 

Oct 

N.T. 

N.T. 


Stock Indexes 


Lew Ctese Chung* 


SU 

jan 321X0 32TX0 31894 

Eat. volume: 19478. Open Int: 59X81. 
CACM(MATIF) 


VU 

— 14 




NOV 

Decl 


198040 

198840 

199140 

NX 

NX 


195000 I 
196840 
198240 
■ NT. I 

NX 


195740 — 440 

196440 —550 

1974.00 —640 

199240 — 650 
19751X1 —440 

1799 JB —640 


Est volume: 29418 Open 6009. 

Sources: Motif, Associated Press, 
London Inn Financial Future* Exchange, 
inn petroleum Exchange. 


Dividends 


Company 


Per Amt Rec Pay 


IRREGULAR 


Am Israeli Paper 
British Pete ADR 
Liberty Afl Stm 
Unilever NV 
Unilever PLC ADR 
c-opprax amt per ADR. 


e n-29 12-28 
C 412 11-23 2+ 

M 12-2 1-9 

C 443 11-25 12-71 
C 419 TM 12-30 


STOCK 

attune Ullls -W% 12-112-30 

STOCK SPLIT 

Cheeapeaks: Eneray 2 tor 1 settt. 


INCREASED 


FstBcpNC 
Real ESt tnvtCA 
SeocaasI Bktaa A 


s 

Q 

INITIAL 


J7 12-31 
JSS 12-31 
.13 12-15 


1-2 

1-19 

1-3 


Brtaos&Stratten n 
Wltmamns CpI Hd n 


X5 

m 


12-5 1-3 

12-9 13-8 


REGULAR 


Auto Data Process 
Baxter Inti 
BtntBev Western 
Opao Hi Inc Stirs 
Edison Bros Strs 
1st Bcp Vincennes 
K-5wisS Inc 
Keystone Am Eq 
Keystone AroGvSec 
Keystone AmTxFr 
Kevstane Am Bd 
Keystone OntedBl 
Lawyers Title Co 
UbsftvTmTrTW 
LanosDnio 
Mattel Inc 
Montc-Austin Inc 
Nacco Indus A 
Newport Conn 
PoctftcCarp 
Quincy Svsi 
Ri tv Refund Tr 
TNP Eitterp 
Tseng Lots Inc 
WMXTechnal 
Western IW re 
W iser Oil Co 
YPF SocAaanADR 
d-enprax amt per ad R. 


Q A5 12-14 1-1 

O JSS 12-7 1J 
Q m 11-28 12-7 
M .075 11-28 12-9 
41 1221 1-10 
45 11-30 12-15 
4Z 12-30 1-13 

44 11-21 
453 11-21 
443 11.Z1 

45 11-21 
478 11-21 


12-4 

12-4 

12-6 

B -6 

12-4 


43 12-1 12-15 

40 11-22 12-1 
JB 11-29 1-10 
46 12-21 1-4 

445 12-15 1-5 
.17 1M 12-15 
-07 12-16 1-4 

M 1-23 2-15 
45 11-25 13-9 
30 12-1 12-15 
40 11-28 12-15 
45 11-30 12-15 
.15 12-21 V5 
78 11-25 12-15 
.10 11-30 129 
30 11-23 11-25 


o-amw atf ymts M t to Ceoodtaa funds; m- 
manttly; o- Auor tart y; s-semMnueal 



U.S. /AT THE C LOSE 

DA Prk« Rise U-- 


««hin<ton (ap) 

was smaller than “O 51 “f S'SSSSWid >M> Am***^* 
In other economic news, the e ovemm j j percent nj 

weekly earnings after adjusting K years. In a ^M rt ^ 

October, the b^est ^SSliveiiton^ 

-ies M 0 J percen. m 

the month after a big surge in August. 

PolyGram Acquires 50% of Drf Jam d 

NEW YORK jOmtod a 
Wednesday it had acquired balT of RAUvei mimon . 

rapmuac label Mr. 
The two companies. began U> *ork W«Mrm ^ ^ 

Simmons ended his mae-year d s ribut.on agee^ ^ 

Music Entertainment. He switched torayorann^ 
percent-owned by Philips Electronics NV. (Bloonwerg. 

Delcor Bids for National Gypsum 


Delcor, an investment company, ® valuing the 

issk'S?- - 

Defco^a nmt'of Golden Eagle Indusmes Inc, now 
19 percent of National Gypsum’s common. (AP, Bloomberg* 

Morgan Stanley Profit Falls 35% 

NEWYORK (Bloomberg) — Morgan SranlqrGn^j^-^ 
Wednesday its third-quarter earnings feU 35 percent as fees 
investment banking and trading declined. cis-) “ 

Profit at toeseatfities firm fell to SI ^8 : J §n 
milli on. Investment banking revenue tumbled 36 f „ 

million, while revenue from trading, commissions and in teres 
6 percent to $540 million. 

Chase Said to Seek U.S. Trust Unit 

NEW YORK (Renters) — Chase Manhattan i Corp. pl 3 ns to 
buy the securi ti es-processing business of U.S. Trust torp- be- 
tween $400 mniinn and $500 milli on in the next two days, a source 
dose to the deal said Wednesday. 

U.S. Trust said it was in negotiations with “a third party to seu 
the uni t Both U.S. Trust and Chase declined to comment further. 
U.S. Trust shares rose $3,125 to $64,625 

For the Record 

Union Carbide Corp- and Mitsubishi Corp. will seU newly issued 
common stock representing 75 percent of Ucar International 
Inc.’s outs tandin g shares to a new company formed bv Blackstone 
Capital Partners. ( Knight-Bidder) . 


FED: Rate Increase Raises Barrier Between Wall Street and Main Street 


Continued from Page 11 

tent strength in economic activ- 
ity and high and rising resource 
utilization.” 

_ That means the economy is 

dation of its sharp gains Tues- running out of workers, as mea- 
day after the U.S. rate increase, sured by tbe country’s 5.8 per- 
AFP-Extel News reported from cen * unemployment rale. More- 
New York. over, companies cannot 

The U.S. unit closed at 98 36 increase their output of goods 
yen. off from 98.75 on Tuesday, and services, as measured by 
It feQ to 1.3043 Swiss francs so-called capacity utiliza- 
from 1.3101 francs and to ^on rate ' because it reached a 
5.3240 French francs from high 84.9 percent in October. 
53425 francs. The pound rose The Federal Reserve acted on 
to $ 1 3735 from $13720. those statistics, preferring — at 

Traders said that end-of-year least for now — not to cbal- 
window dressing was likely to lenge the message embedded in 
keep the lid on near-term gains, them. The fear is that all sorts of 


shortages might soon develop, notion that the data were inaocu- 
and these shortages will drive rate, and it was wrong, then the 
up wages and prices, making inflation genie would get out of 
the inflation rate spurt. the bottles,” said Richard Berner, 

The stakes, of course, are chief economist at the Mellon 
enormous. If the Federal Re- Bank in Pittsburgh. “So we can’t 
serve slows the economy pre- afford to bet on that notion." 
maturely because of an exces- Like the Fed, President Bill 
sive concern about inflation, Clinton and his aides are rduc- 


23 percent increase that many 


5 percent 
lalysts hav 


unemployment will rise, and 
people with jobs will have less 
chance of getting raises. 

Some Federal Reserve 
cymakers. in off-the-recor 


li- 

in- 


tant to challenge official data. 
But economists at the White 
House and in the Treasury are 
exploring the possibilities that 
the American economy can 
terviews, are beginning to won- handle stronger growth than the 
der whether the data tell an 
accurate story. Those doubts, 
however, have not yet reached 
the financial markets. 

“If the Fed were to bet on the 


analysts have said was the max- 
imum sustainable rate: 

“We have had a lot of invest- 
ment in tbe past several years, 
and particularly in the past three 
years," said Laura D’Andrea Ty- 
son. bead of tbe Council of Eco- 
nomic Advisers. Heavy invest- 
ment in machinery and 
computers may have made the 
economy more productive. 

“If that is true, then maybe 
we are underestimating the 
economy’s potential.” 


Intel Sees Higher PC Sales 


Internationa/ Herald Tribune 

LAS VEGAS — Andrew S. Grove, president of Intel Corp., 
said Wednesday that 1 billion personal computers could be 
sold in tbe coming decade, a level of sales that would be more 
than twice the current annual rate of 40 milli on units. 

Mr. Grove, whose company makes more than 70 percent of 
tbe processing chips used in personal computers, also said the £ 
current generation of computers required too many add-on ** 
devices for sound, graphics and communications. 

He said the next generation of machines should include 
many of these functions on the processing chip rather than 
require peripheral devices, such as sound and video cards, 
that must be attached to computers and that do not always 
work well together. 


U.S. FUTURES 


Vio Anodotaf Pram 


Nov. 10 


WORLD STOCK MARKETS 


Aflcnw France Prone No*. 10 

Cta* Pm. 


Amsterdam 

ABN AmroHM 4140 6140 
ACF Holding 3&20 3440 
Aooon 10940 109.10 

AHOW 5240 5L90 

Altzo Nobel 199.40 20140 
AMEV 7X50 74 

Bots-WemrMn S3JO 3X40 
CSM 6X20 6840 

DSM 13830 173,38 

Elwrriev 1740 1740 

Fokter 1490 1440 

Gfat^Brocwles 4450 4*20 
HBG 274 27450 

Hotaekm 24X70 247 

Hooaovens klm boao 
Hunter Douglas 77.90 77 JO 
IHC Calcmd 43 4280 

Inter Mueller 96.» 96 M 
Inn NedortBid 79 JO 7980 
KLM 4450 4E&8 

KNP BT 5020 51 

KPN SSJSS" 55JSS 

{tedltovd 5X» 56.10 

OccGflnhm 7750 76J0 
Pawned 46 45.10 

PWllPa 54 5*50 

Pojvorom 77 7450 

Rabeco H3J0 lUio 

Rodamco 5080 5X70 

Rollnco 11420 n« 

Rorenlo 83 B240 

ftoyol Dutch 1B9.70 i9aio 
stork «...« 4170 

Unilever 191.10 19X80 

Van Ommoren 46.90 46.90 
VNU 1B1.10 180 

Walters/KJuimr 12170 12180 

VTWSDbS ■ 4T3-ZI 


Brussels 


Ahnaill 

Arbed 

Baroo 

BBL 

Bekaert 

CBR 

CMB 

CNP 

Cockerlll 

Cotaapo 

Colruyt 

□altnfze 

Elactrabel 

Etectraflna 

FcriteAG 

Gtawbei 

immobel 

Kradlettnnk 

Mosane 

Petroflna 

Powerltn 

H&mcet 

RovaleEtetee 

SocGen Banaiae 


7750 7750 

3150 5070 

2455 2480 
4270 4260 
23500 23600 
12150 12200 
3445 2660 
1990 1990 
197 194 

SflM 5630 
7130 7200 

1294 1294 


2913 2915 


7810 7430 


SocGen Beiataue 2210 2200 


Satina 
Sofvay 
Tessenderlo 
Troctebel 
UC8 

Union Mtnlere 
Wooora Ufa 


1 13200 ilB 
14950 15000 

10075 9990 
9SJ0 9520 
24330 2000 
I 2653 26601 
6000 6010 




Market Closed 
The Frankfurt 
stock market was 
closed Wednesday 
for a holiday. 


Helsinki 


Amer-Ytifvma 

Enso-GuteeJI 

Huhtomakl 

K.O.P. 

Kyntmens 

Metro 

Nokia 

Pah iota 

Rapa la 
Stockmann 


100 101 
40JQ 3980 
147 148 

408 411 

m m 

138 ISO 
700 473 

49 7D 




Hong Kong 

Bk Eat A Ua 3X10 3480 
Cattwr Pacific II 35 11 JO 
Owns Kong 37,90 3780 
Utbta Lroninm* JBJC jojhj 
D airy Form Inti 980 975 
Hana Luna Dev HS 14.10 
Hang Seng Bank 60 59.75 
ftenoer jot Land 50JB 4980 
HK Mr tna. 3i 3i <a 

HK China Gas 1480 1*20 


CteHPrav. 

hk Etodrlc 2*10 2X60 
HK Land 1985 1985 

HK Really Trust 18 ta 
HSBC Htidlnos 92 91 J5 
HKShmgHrts 10J5 1045 
hk Telecomm 16 1X90 
HK Ferry 1005 10J0 

Hutch Whamnoa 35J0 3520 
Hvsan Dev 2a«5 2083 
JartHnc Math. 62JS 4X75 
Jardlne Sir Hid 27 JO 7X60 
Kaatow Motor IS 1480 
Mandarin Orient 1X55 1X10 
Miramar Hotel 17-60 17X0 
Naur World Dev 
SHK Proas 
Stetux 
Swire Poc A 
Tal Chewno Pros 
TVE 

wharf Hold 
WhwlDCkCo 
Wlno On Co Inti 
Wlnsar Ind. 


25L60 2540 
5X25 5X50 
X2fl 120 
57.75 57J0 
985 985 
4 4 

3070 3080 
1420 1440 
9J5 9 JO 
IX7S 1073 
959X74 


Johannesburg 

AEC1 
Altech 


29 2X50 
WHI 109 
24*50 243 

3X85 33J25 
B XSD 
42 41 

99 JO 99JS 
64 66 

15.15 1X20 
130 128 

38 3X25 

34 34 

6575 44 

39 38L25 
4X75 4X75 

1128011X50 
99 JO 99 JO 
35J5 35.15 
196 195 


Anoto Amer 

Barlows 

Blyvoar 

BuHeta 

Do Beers 

Drietontein 

Gencor 

GF5A 

Harmony 

HtahveM Steel 

Kloof 

Wed bank Grp 
Rand Ion tel n 
Rusajal 
SA Brews 
5asol 

Western Deep 


London 


Abbey Non 
Allied Lyons 
Arte WtODfns 
Argyll Group 
Ass Brit Foods 

BAe 

Bank Scotland 

gs *” 8 

tkl 

Blue Circle 
BOC Group 

iSSSter 

BP 

Brit Atman 
Brit Gas 
Bill Steal 
Brit Telecom 
BTR 

Cable Wire 
Cadbury Sch 
Conxion 
Coats Vlvetlo 
Comm Union 
Caurtevikfe 
ECC Group 
Enterprise Oil 
Eurotunnel 
Flsons 
Fane 

Gerrt Acc 

Glaxo 

Grand Mel 

GRE 

Guinness 

GU5 

Hanson 

HfilBdDwn 

HSBC Hides 

ICI 

Inchcape 
KtftOftsher 
Lddbroke 
Land Sec 
Loporte 

I n«m n 

LcaalGenGre 
LMras Bank 
Mirks Sp 
ME PC 
Natl Power 
Notwesl 
NthWsI Water 
Pearaan 
P LO 

Pllklnefon 

Power Gen 
Prudential 
Rank Ora 
Recfcin Col 
Redtond 
Reed inti 
Reuters 
RMCGraus 
Rolls Rovce 

RartKVHi (until 


Ctese Prav. 


Ravel Scat 
RTZ 

Salnsburv 
Sort Nev«cas 
Scat Power 
Sara _ , 
Severn Trent 
Shell 
Slew 

Smith Kline B 
SraWitWHl 
Sun Alliance 
Tate & Lvle 
Tosco 
Thom EMI 
Tomkins 
TSB Group 
Unliewar 
Ufd Biscuits 
vodatane _ 
War Loan 3 Vj 
W ellcome 
Whitbread 
williams hubs 
W lllB Corraan 


4^8 

XS7 

431 

XI 2 

3J9 

1.10 

5J5 

7.13 

583 

188 

*27 

4*5 

X36 

442 

3-51 

9.99 

X24 

230 

1181 

118 

214 

41J0 

471 

5-55 

X53 

188 


*47 

8J9 

*16 

5.14 

158 

1.10 

581 

7.13 

5S5 

188 

*25 

4J8 

130 

4J0 

251 

9.98 

224 

230 

1184 

117 

271 

41.19 

470 

551 

352 

184 


: 314659 


Madrid 

8BV 3410 3370 

Bco Central HlSP. 29» 2945 

Banco Santander 5230 5300 

Bonesto 923 90S 

CEP5A 3200 3230 

Drooados 1930 1970 

Endesa 5920 5990 

Ercroc 140 141 

Iberdrola 877 879 

ReOSDl 3955 4050 

Tabacarera 3710 3640 

Tehran loo 1690 1735 

^Ek^NKte*: 30446 


Milan 

16000 16050 

- . 10700 10850 

Autostrada prtv 1815 1810 
Boa Aoricafturn 2725 2750 
Bca Cpnvner Ital 3550 3555 
Bco Maz Lavorp 11450 11610 
Bca Pop Novara 9000 9000 
Banco 01 Romo i«w i705 
4290 43*0 
1183 1178 
20300 20400 
1470 1442 
3105 3125 
1358 1284 
4210 62S0 
9820 9800 
1550 1555 
12070 12300 
37750 37750 
5790 5690 
1108011150 
4905 4900 
13310 13350 
1232 1232 
1930 1925 
3335 2320 
19200 19450 
8725 8800 


Benetton 
CredHo itelteno 
Enichem Aug 
Farfbi 
Flat spa 
Flnanz Agruind 
Finmeccanica 
FaMfariaapa 
Generali Assic 
IFIL 

ltetcementl 
I taigas 
MedMxmca 
Montedison 
Olivetti 
Pirelli spa 
BAS 

RI nascent© 

San Paolo Torino 9S45 ?soo 

SIP 4200 4290 

SME 3970 3955 

Snla bod 1973 1964 

Standa 

Slat 4*98 4875 

Tara Assic 23350 23300 

ViS2£?®S :va,s 


Montreal 

AtceLM!. 14* 14V* 

Bank Montreal 24te 24”h 
BCE Mobile Com 43W 4SU. 
can Tuva 
C dnuttIA 
Casonaes 
Crowirx Inc 
CTFInlSvc 
Gar Metro 
GtWesi Utoca 
HMSInriBcp 
Hudson IS Bay Co 
Irnaseo Ltd 
investaraGrpInc 
Labatt (John) 

Lobtow Cos 
Mol son A 
Natl Bk Canada 
Osliawd A 
Pancdn Petraim 
Power Carp 

P ovver FbVI 
QuebecpfB 
Rogers Comm B 
Royal BkCda 
Scars Canada Inc 
stiaiiCdoA 
Soutaam Inc 

5 tel co A 
Trllon Ftn'l A 


n«* ini 

23Vi 23V. 
734 7Vl 

1 BU 18% 
18 IBM 
12*4 12*6 
2044 3ff*4 
13V. »\4 
2S4k 2SW 
39 3844 
rate IF** 
20* 20*4 
31 Site 
1914 1914 
94k 944 

IBte l 8 te 
42te 4JV> 
IBS* 189k 
2B*i 29*4 

14V, lUv 

1914 I9te 

28 28 
bvs m 

43K 431b 
1441 14 H. 
«4 BV4 

IBS X9S 


Ctese Prev. 


Paris 


Accor 
Air Uoulde 
Atami AMtnm 
Axa 

Bancalre (Ctel 
BIC 
BNP 
Bouveues 
Donna 

Corretawr 
CCJ 7 . 

Cyrus 
Charoewrs 
Cl moots Franc 
CiubMed ^ 

E 11 -Aquitaine 
Euro Disney 
Gen. Eoux 
Havas 

l metal — 

Lafarge Coppee 41BJD41X30 
Leo rand 4970 7020 

Lvon- Eaux 48740 AOLSO 

Oreal (L'J 1144 1146 

L.VJM.H. BSB 

Mafra-Hochetle 113L70I1L. 
Michel bi B 217J0 214J58 

Moulinex 11088 nun 

Partaas 34488 346.10 

Pvxhtnev Inti 16X*0 145.50 


423 

m 

433 43*50 

STS 67V 

745 TO 
2122 2132 
239.40 23*80 
IDS 10140 
1284 1313 
235 2« 

44740 *50 

37X90 372 

840 980 

499.10 512 

436 44020 
586 581 


Pernod- RJcard 
Peugeot 
Plncult Print 
Radlotedinlque 
Rh-Poutenc A 
Raff. St. Louis 
Sanofl 

Saint GaBabi 
S.EB. 

Ste Generate 

*VllPT 

Thomson-CSP 

Total 
UJLP. 

Voted 

sssawyap" 


32140 JT7J0 


819 

982 

* 

519 

525 

137X0 1376C 

1423 

1431 

259.90 

7M 

645 

641 

564 

612 

a 

262 36*90 
152X0154X0 

33250 334 

14X50 144J0 

281 

285 


To Oar Readers 
Sao Paulo slock 
prices were not 
available for this 
edition due to prob- 
lems at the source. 


Singapore 

Asia Poe Brew 1440 1440 
Cereb us «*n vxn 

aty Develwimnt 840 XS5 
Cvwe & Carriage 1X50 1X30 
DBS 1X60 1X7® 

DBS Land *98 *92 

FE LevFngsfon 7JJ5 j 
Fra»er> weave 1780 1*90 
GlEastnUle 28^0 27 JO 
Mono Leona Ftn 
Inchcape 


Jurano Shipyard 
Kav Hlan j Caael 
Ketwal 
Netstegl 


5J0 

13 

189 

13L20 

3 

Z13 


_ foreign 1X80 1X80 
Oteas Union Bk 780 7.15 
erseas Union Cnt 9ja vjo 
S embawang 17 JO 1L50 
Slme Singapore 1.12 i.i3 
Sing Aerasaace 288 228 
Sing Airlines torn 1*20 1*20 
Stag Bus Sve 930 930 
Slag Land 905 9 

Slog Pet kn 2J1 246 

Sing p rasa torn 77 JO 2780 
SJng Shlptudo U1 243 
Sing Telecomm iu 1U 
Strat Is Steam 5-55 5J0 
Strolls Trading 344 384 
Tat Lae Bank *42 *60 
utd industrial IJ2 148 
UtdO*sgaBXtam 1*10 1*30 
UMCTSeasLond 288 250 


Ericsson 
Essette-A 
Handetobank BF 
Investor BF 
Norsk Hydra 
PtwrmodaAF 
Sandwtk b 
SCA-A 

S-E Banken AF 
5kantfa F 
Skmska BF 
SKFBF 
StoraAF 
TtaHeborg BF 
Volvo BF 


Close Prev. 

44245450 

« 

. 2 ? 57J0 
191 IBB 
248 249 

123 121 JO 
12*50 123 

113 113 

47 4X10 
131J0 132 

171 JO 17X50 
134 134 

447 448 

112 112 
143 138 


Amcor 
ANZ 
BHP 
Bonn 

Bougainville 
Coles Mver 
Coma loa 
CRA 
CSR 

Fosters Brew 
Goodman Field 
ICI Australia 
Magellan 
MIM 

Not Aast Bank 
News Corp 
Ntee Network 
N Broken Hill 
Pac Dunlop 
Pioneer mn 
Nmndy Poseidon 
OCT R esources 
Santas 
TNT 

Western Minina 
Westpac Bonking 
Woodslde 


Sydney 
888 
171 
19JM 19.10 
X29 3J28 
X94 0.96 
*10 *1 
589 X1G 
17.70 1784 


1.13 

1.16 ..... 
1X90 1X90 
1.95 1.95 
281 284 
1X48 1086 
545 534 
NA NA 
124 335 
X79 191 
119 130 
232 230 
135 134 

382 382 
240 246 
786 7J5 
*17 *22 
*68 487 




Tokyo 

Akal Electr 399 

Asahi Chemical 750 


Asahl Glass 
Bank of Tokyo 
Bridgestone 
Canon 
Caste 


1210 1220 
1400 M10 
1540 1550 
1740 1750 
1250 1258 


Dal Nippon Print 1720 1760 
Dahvo House 1330 U20 
Dotted Securities 
Funuc 


Full Bank 
Full Photo 

Fujitsu 
Hiiochl 
Hitachi Cable 
Honda 
no' 

Itochu 
Japan Airlines 
Kalfma 

j P owe r 
komssdM Steel 
Kirin r . 
Komatsu 


Matsu Elec lnd» 
Matsu EtecWks 
MlfeubWii Bk 
Mltsuh Chemical 
MUsuUsd Elec 
MhsuWshf Hev 
MttsuMshl Cora 
Mitsui end Co 
Mitsui Marine 

Mirsukeshi 

Mitsumi 

NEC 

NGK Insulators 
Nikko Securities 
Nippon Kooaku 
Nippon Oil 
Nippon Steel 
Nippon Yusen 


1310 1300 
4650 4650 
2010 2040 
2250 2250 
1040 1050 
973 974 

780 780 

1690 

5250 
737 742 

730 720 

875 075 

3350 2370 
418 424 

1060 1060 
912 915 
725 724 

73TB 7310 
1560 1530 
1060 1060 
2210 2190 
564 556 

704 706 

749 749 

1270 1200 
853 853 

745 74* 

953 953 

1360 1380 
119D 1180 
1040 1Q50 
1040 1030 
MB 947 
683 678 


Stockholm 


AGA 
AseaAF 
Astra AF 
Alta Cams 
Elect ratine B 


6950 

543 

201 

9750 


450 447 

795 79\ 

Nomura Sec 1940 1930 
NTT 8770O 8760a 

Otymnas Oattcaf 1070 1070 
Pioneer 3360 2510 

RlCOh 920 928 

Sanyo Elec ,5*5 569 

Sharp 1800 1790 

SWmazu 696 708 

SMnetsuOwm 1M0 1900 
Son* 5900 5780 

Sumi tom o Bk 1740 1760 
Sumitomo Cham 547 580 

Suml Marine 850 853 

Sumitomo Metal 334 3*1 
TaJsei Carp 614 420 
Takeda Cftem 1190 nn 
TDK 4640 4560 

Tellln 547 545 

Tokva Marine 1140 1150 
TakvaElecPw 278B 2SM 
Teapan Printing 1*00 1430 


Taray ino. 
Toshiba 
Toyota 
YamakhlSec 
a: x W0. 

es : 1526 

previoes : 152J 


Claw Prev. 
135 752 

720 708 

2110 2130 
717 713 


Toronto 


AbIHbJ Price 
Air Canada 
Alberta Energy 
Alcan Aluminum 
Amer Barrick 
Avenar 

Bk Nova Senna 

BCTetecomm 

Bombardier B 

Bramalea 

BrascunA 

Camera 

CiBC 

Odn Natural Res 
Occld Pel 
' inc 


Ccmlnco 
Consume rs Gas 
DOtasco 
Daman Ind B 
DU Pont Cda A 
Echo Bov Mines 
EmptreCo. A 
Falcanbrldge 
Fletcher Chatl A 
Franco Nevada 
Guardian Coda 
H em k> Gold 
Horsham 
imperial Oil 
Inoa 

IPL Energy 
LOkUavi A 
LakDaw B 
Laewen Group 
Londwi insur Go 
Mocmlll BloedFl 
Manna Inti A 
nuple Leaf Fds 
Moore 

Newtridae Netw 
Naranda Inc 
ttoranda Forest 
Narcen Energy 
Nitiem Telec om 
Nava 
Ones 

Petro Canada 
Placer Dame 
Potash Coro Sash 
Provfga 
PWA 

Ouebecar Print 
Renaissance Eny 
RioAlgam 
Seawram Co 
Stone Console 
To Itsman Env 
TefeolobB 
Telus 
Thomson 
Tor Dam Bank 
Transotta 
TrgnsCda Pipe 
Utd Dominion 
Ufd WCstburne 
Westaoast Env 

Weston 

Xerox CanodaB 


B^iSS/ , rS3 ^ n - 70 


I7V» 1714 
BV, BM 
19V4 19M 
34 34M 
Site Site 
2SV> 25% 
77 2714 
*5te 45te 
7*V» 25M 
ZTM 2134 
233 239 
20 20 
29M 29M 
31Ti SIM 
it* in* 
33te 33M 
21M 204k 
6 614 

SSte 25*6 
17V. 17V* 
IBM 1844 
11 11 
»7te 1744 
15te 154k 
13*. 13M 

J 21H 22M 
7Vs ]74k 
.82 82 
B’« 814 

14M 14Vk 
19*fc 19M 
4ATH 47 
38V* 3BU. 
27M 2716 
9M m 
10 9te 
35%. 354k 
23 23Vfc 
18 17H 
474k 48 

11M 11M 
24te Z4 Vj 

4BV4 iM 

24M 24te 

10%k urn 

17Vj 177k 
47M 4634 
13 12M 
13M 13M 
1144 11* 

8 14 28 to 
14 4SW 
5 5M 
054 0J1 
13J; 134. 

31 SIM 
2514 24 Vj 
3PM 38M 
15M ISte 
27% 28 

IBM IBM 
15-te 15te 
14M IM* 
BJM 20M 
14 I4M 
17M 17V. 
27H. 27VS 
11 11M 
23 

39M 3944 
47 4514 


Seaton Season 
High Lew 


Open Hteh Law Oaso Cho OpJnt 


Grains 

WHEAT (CBOT) MOOlMinlrMiuii-eoaBrtPVBugiri 

*IIR“ 3IP Doc 94 177 1771* 172 X734. -0 0«te 2*641 

*26*. U7 Mor 95 3JN J -* 1894* 3J3V> 3A5te-ajMM 3X002 

lra’-i 116teMov9S168 168 Vi X66’.i IMte-XO] 4M3 

34JV. ill Jut 95 137 137V, 3J4 13S 1 .-XB2V. lXBto 

145 141 Sep 95 1«V. 140'k 139W 13914-iUQi.k 351 

X75 X52 Dec 95 14) 149 V, 149 149 'Ci— 0.03 157 

I54te X34teJul9t 125'4-tun*) 7 

Est. sales 15.000 Tud'xsiAs 11160 

Tup's open iri 10,785 UP 91 

WHEAT OCBOT] s.agobumMnMn-aDttniMrbuUKl 

4 23'.. 3 12*3 D*C *4 l»*s X90W XA5 X86W-iUM I2JM 

4.0*4 325 Mar 95 190*1 190V. 1B5L XB6W-aiD%. 17^92 

*03 321V, Mav 95 3J3 173 320'.. ITT*— 0X0 V, 7.286 

348'.) 116hJul« J43V) 143V, 140'S X4T.-OiD 4.323 

177 129 Sep 95 145 145 144 144V4-O.01V, 86 

169W 3J4 Dec 95 151 1S3 152 152 -0XH 10 

ESI. sates NA. *062 

Tup’s openW36JJS up 480 

CORN (CBOT) sjoBbunMtenum- Oaten iwoumi 

177 2.13’.) Dec 94 216*, 217*4 ZWM 114** 95JZ7 

187*: 173*) Mor 95 128 1281* 1271V 1271*— *00% 76J48 

2J5 730 V, Mov 95 2JSV. 135** 734V, 135 — OJWW 29.797 

2-B5*i 2JSV.JU195 140 140). 138V, 140 -C.P9'« J9J98 

2-70’ 139 Sep 95 144*4 145 2XT* 143*4-X01 ■* 1719 
163 739/1 Dec 95 14 »'* 149V, 2*7 147*4—0.01*: 2X059 

140-4 7-50V,Mar9» 155V, 3J5W U4 154>4-X01*4 823 

Z67 155V, Jo) «* 2-62 162 160W 141U-0JCV) 861 

Est. sates 4DJH0 Tub's, scies 42J88 
Tuc sopenM 747.896 off 301 
SOYBEANS (CBOT) SXtoau mUterxmv aooor. BteDvunrt 
7J7W 524*4 Nn/ 94 562 542*1 5JSW SJ8*4-OOIte *037 

7.0* 5J7’jJon9S 569 5.70ft 563 565ft -002*, 54.K34 

7JI5 S67’,Mor« 170V. 5.79 X77ik 5J4V. -0JJ2W 17.9® 

7.05ft 556 MOV 95 566 566 560 181 ft -062*4 1*146 

706ft 54JViJW9S 5.91 191 565ft 566Vi -063 23367 

6.12 566ft Aug 95 X91*» Site 568ft 569ft— 063ft 1.747 

615 521 Sep 95 5 91V, 193 S69ft X90 1605 

660ft 5.78ft Nov 95 597 X*7ft X94 595*4-061*4 46W 

6.16 199ft Jon 96 662 604ft 6 JO 6 KM, *060% 10* 

*28 5691,6496 616 ft -061 ft 56 

Ea. sates 38600 Tue's. sales 47699 
Tue's open Inf 135,116 oft 1273 
SOYBEAN MEAL (CBOT) IRM.Mnpt'te 

209.00 [ 5*20 Dec 9* 159 JO 1 59 JO 15X30 15X80 -840 31,208 

207 JO 160110 Jm 95 161.00 1*160 15960 16620 -040 20601 

707 JO 16400Mar95 1*530 1*5-30 16460 16*30 -060 I960* 

207.00 I67.60MOV95 1*9 JO 1*960 16060 169.90 — OJO 10677 

20560 170.70 Jui 95 174.00 17*00 17X39 17X70 —060 10J76 

18X60 17160 AtIO 95 175.90 17X10 17560 17560 —060 2JD2 

18X70 171* Sep 95 12860 U8J0 17760 17760 -060 1677 

18160 17560 Oct 9S 179J0 10060 1 79 JO 17960 -0JD 3630 

18X20 17*60 Dec 9S 18X00 18X00 IB260 182JD —OJO 1,958 

Jon 96 18*00 -OJO 

Esi. sates 15600 Tue's. sales 1*620 
Tuo's onan Int 100686 efl 1315 
SOYBSAHDK. ICBCri) 


Season Season 
«gh Low 


Open tkafi Low Oase Chg Oo.Hr 


1X31 l1,18May96 1X32 1132 

1117 llJOJUM 1220 1220 

0096 

ESL sales 1X843 Tue's. sTOes 1X908 
Tue's eoenW 168660 up 266 


1X32 

1220 


1X32 

1220 

1X13 


■580 

1041 DecM 

1270 

1280 

1261 

1272 

—14 

1X88 

16ftS 

1 077 Mor 95 

13,8 

1329 

1308 

1315 

—30 41,161 

1612 

ldTBMay 95 

1365 

13W 

1338 

1342 

—19 

9.18S 

1600 

1225 Jut 95 

1372 

1377 

1365 

1366 

—19 

3.94/ 

1560 

1390 Sea 95 

1 49/ 

1400 

1385 

1389 

—It 

1X07 

1633 

,290 Dec 95 

142a 

14a 

142B 

1419 

— 19 

5.108 

1676 

1391 Mor «6 




1450 

■ ■ 1 q 

4.15, 

1642 

1225 Mav 96 

1473 

1473 

>473 

1475 

—16 

B/J 


1495 —16 


Jui 96 

Esc. sates 5,160 Tue's. sales 13264 
Tue's asm W nO.936 up 107S 
ORANGE JUICE [NCTNI ISAMm- omhiun 
13400 BiOBNav 94 111 JU 11120 111X0 11125 *0.10 161 

-BCO Jon 95 11530 11560 11X50 11425 —070 15651 

KUn*lar« 11860 118.90 11*80 11760 —070 5614 

97 .DO May 95 171.00 121 JB 11920 12060 —OJO 

1 00 -W Jut 95 12460 17460 17X00 12360 
107 25 Sep 95 12*® 

10960 Nov 95 12S.10 

105J0Jot96 125.60 

Mo- 9* 12*10 

Ed. sales NA Tue's. sates 2684 
Tue’s open Int 77658 up lo* 


13X00 

17425 

1 2 2.25 

124J0 

12*25 

125J0 

12760 


-OJO 
— 065 
— X35 
♦ X15 
.065 


916 

1605 


407 


3S 


2867 2XOODecM 

2BJ5 2X65 Jan 95 

28J0 2X91 Mar 95 7*12 

2865 2265 Mov 95 2560 

7765 2X76 Jill *5 2*57 

272) 22J3Aug95 3*35 

7475 22J5Eep95 24.10 

24J5 2ZJSOCT95 3360 

24J5 2260 Dec 95 23.75 

2*15 3X75 Jot 96 

Esf. sates 2*000 Tue 1 ^ sates 28661 
Tue's open H 11X578 up 3571 


2864 

2762 

2*20 

2135 

MJD 

2*45 

9*10 

2365 

2175 


2768 

2*72 

2SJS 

u« 

9465 

2465 

2360 

2X60 

2X50 


2X31 

Z7.ll 

2663 

25.15 

2*44 

2*10 

2363 

2365 

2365 

2340 


♦ 063 35670 
-HOI 2X359 
-067 18,773 
-009 1*815 
—0.05 5617 
—0.13 1.734 
-067 1.577 
—0.13 2J14 
— 065 3674 
- 0.10 5 


Livestock 


74JD 

7465 

75.10 
69 JO 

68.10 
4765 
6*55 


.'JO DOC 44 7065 
6*85 Fib 95 69 JJ 
6767 Apr 93 «J5 
64J0 Jun95 8565 
6160 Aug 95 6*15 
6*20 Od 95 4*90 
4*00 Dec 95 4*00 


7060 

6950 

69.50 

45.70 

64J5 

4502 

4665 


69.70 

6860 

6967 

6*32 

6170 

4*60 

6560 


69.97 

6*87 

m/a 
65 31 
Kim 
4*70 
6 US 


Est. sOtos 11620 Tue's. sates »60S 
Tue's CBOT int 77684 Otf W 
FEEDER CATTLE (CMER1 tensi.cMiM'B 


Zurich 


AdlO Inti B 
Aiusutose B new 
BBC Bnmt Bov B 
ObaGelovB 
CS Holdings B 
Eiefctrowe 

Fischer B 
Inlerdbcount B 
Jelmoii B 
Laryfls Gvr r 
M oevenpickB 
Nestle R 

Oerllk. Buehrle r 
P oraesa Hia B 
Roche Hda PC 
Satra Republic 
Saodaz B 

Sch toes erfl 
Sulinr PC 

Swvetitonce B 
SwISS Baft Com B 
SwtSS Retnsur R 
Svrtssalr R 
UBSB 

Wtoterthur B 
Zurich Ass b 

s&ssn’i®? 


216 214 

628 620 
1109 1099 
771 753 

550 555 

3S5 359 

1440 1440 
1775 1970 
BIB BOB 
750 731 

430 420 

1221 1193 
135 U5 
1465 1465 
5850 5760 
111 107 JD 
708 704 

77OT 7900 
894 890 

1850 1830 
359 357 

770 785 

828 860 
1204 1206 
.468 468 

1225 1227 


5*00 71 25 Nov 94 7*57 7467 

90.95 71 60 JOT 95 7487 7467 

atlM 70J566OT93 79.90 7X90 

7*40 70.10 AM* 95 72.25 7X6S 

7430 «60Mav9S 71J3 7166 

T.3F 6960 Aug 95 7160 7160 

7160 4960 Sep 96 

Est c-t*4S 1 JB7 Tue's stfes 996 
Tue -.■JP'Jti inf f JBS Off 78 
HOOS ICMERt MMb.aOTnre 
50J0 3X50 DecM 3X97 3X05 

5060 35*5 Feb 95 3660 3465 

4860 3*»Apr95 37J7 3765 

47 JO 41 J7 Jun 95 4265 4X50 

45.00 41606/95 4X65 4X45 

4X40 41.I5AU095 4X11 4X12 

6DJD 38 JO OCT 95 3925 

41 JO 3960 Doc 95 JtJS 

4X50 41 60 Feb 94 

Est. sales 11.503 Tue’s sows 
Tue's epenua 3768S off 7D 


7465 
7*Z) 
7X20 
7165 
71 JU 
71.15 


3260 

35.10 

3*50 

4125 

4160 

4160 


7*45 

7*32 

7X37 

7167 

T 1 JH 

71.15 

70.90 


—*30 2761* 
-065 2*232 
— *25 15.953 
-OJO 5631 
— *32 1679 
-0.55 526 

-0.15 S3 


-065 1.710 
— 065 *163 
—063 1,207 
—063 696 

-0.43 401 

-060 145 

- 0.10 24 


3260 —165 15,191 

3112 -165 11.781 

1*60 -167 5673 

4X05 -067 7,9V 

4X25 —067 717 

41.77 -068 


mm 
6030 
41.15 
5S 60 
4460 


37 AI Feb 95 4*20 

37 .50 Mor 95 4QJ0 
38.95 Mav 95 61 JO 
3965 Jut 95 4130 

38 75 AuutS «35 


39X5 

3BX0 

19JB 

—0X0 

455 

41X0 

4*80 

41.03 

—0X5 

86 



42J0 

-OLIO 

18 

4A87 





00 m.- 1 

InhRi 

■te. 



4*50 

3U0 

3180 

—IDO 

8X71 

4*60 

3967 

39 D7 

— 100 

1,242 

4150 

4*B5 

ja 10 

-IDS 

JA4 

4*30 


4U3 

-XOO 

382 

40X0 

39 JS 

3965 

-200 

87 


Food 

CDFFEEC (NC5E7 Kkces-aTOroB 
34425 77. 10 Dec 94 17*50 17*50 149.00 17*10 

74*00 7*90 Mar 95 17*21 ISX0D 174 JO 1*125 

24460 82. 50 Mllv 95 17*60 18460 17780 18460 

KM0 B&OOJurto 180.90 I85.B5 II93S 145JO 
23*00 1 3260 Sec 95 16260 18*00 11160 I06JM 

74260 0160 Dec 95 18300 18X20 13360 187.05 

20X50 IMJHMarM IB 15 

Eg. tale 10698 Tue's. sates 12613 


Tue's open im 37.1B9 up 
SUGAR-QUORUM I (NCSE1 
1377 9. 1 7 Mar 95 1353 

1X74 lM7Muyt5 1X51 

13J1 ID J7 Jui 95 11X4 

1269 I0J7OCI 91 17.78 

1264 IDSaAAar SU 17X5 


12 


ItiOtoOn.-snesperto 
1X44 1X53 1X53 

1X67 1X58 

1363 1X14 

1264 1X78 

1264 12J5 


US 

1X82 
17 W 


•44S 6665 
•4X5 1*344 

■ 4J0 5.943 

7653 
-ISO 1601 

■ JJ0 638 

•175 l« 


—0 06 W.hM 
—065 30631 
—001 18.706 
—001 16.344 
•001 3.543 


Metals 

HI GRADE COFFER (NCM30 K600 tou- arrs per b. 

13000 77J5KovM I33JO 13S20 mjc 13*10 ‘*10 1.231 

13*10 7 *75 Dec 94 1JU0 13460 131X0 114X5 •5X0 11.192 

127.00 7*90Jot9S IJU® 131 OO 13*30 13165 +415 

12560 73.00 Fell 95 17960 13*40 129.00 13*35 -400 741 

127.10 TXOOMar 95 I27J0 l»X0 12760 17*85 >360 1*785 

12*20 91.10 Apr 95 1 7550 17550 I2SJ0 13 *jj . J50 in 

12100 7465Mav 95 12115 12*20 123)0 12385 *JJ0 2683 

11760 104 10 Jun 95 12X35 >360 

12060 7800 Jui 95 11960 12060 119.00 17*85 >265 1105 

11760 11160 Amo 95 11965 * 245 366 

11*80 79.10 5ep95 117.00 IITJO 117 00 11725 'X75 I.J?6 

115.50 11X00 OCT 95 11*75 • X30 192 

I1SJ5 8860OQC 95 11160 71X50 11160 11165 • 165 1.8)8 

I IIJG 8360 Jan 9* 110 50 -160 

11X30 62L70Mor 16 109JB 11060 10960 10765 >065 303 

10960 10760 May 96 XHJO 1 0860 1083* IDSJ5 

Jui 9* I07J0 10760 10760 10*70 -I JO 10 
Sep96 104 70 —260 

Est.stfes 21600 Tue's sales 27600 
Tue's opal irn 41,272 up 805 

SILVER (NCMX) MDOIrnn.- isAMr bwN 
5176 Sll.ONovTd 570.0 52*0 5306 S2X2 

W7.0 3806 Dec 94 51*0 537.0 5116 5313 

57*3 4016 Jon *5 5236 573.0 5ZJ.D 52*5 

6046 41 66 Mor 95 52*6 5156 53*5 5316 

60*5 4186 Mav 95 5146 5416 5340 337.7 

61*0 4306 Jui 95 5406 5476 5406 5419 

6036 53X5 Sep 95 550.0 5516 550.0 55*4 

65*0 5396 DecM 5570 5615 5570 560.5 

6126 5676JOT94 5*0 

43X0 5546 Mot 94 5726 57X6 5710 5716 

599 0 SU6MOV 96 S78.7 

6006 5766 Jui 96 yj, 

Sep 96 5940 

EB. sales 27600 Tue's. sales 29600 
Tub’s open bit 131,753 up 4399 
JJjkThiWS (MMBR) SimiiL-gpnwnve 
41X50 37*80 ini 95 41*10 41760 4IS00 41*40 

43960 3W60Aar9S 42060 42)60 42*00 430 90 

40960 41860 All 95 42*30 —I JO 

441X0 43X0000 95 43X60 43X60 432JM 430 4) — 1 JO 

43960 43860 Jon 96 

Est. uses 1637 Tue's sates 5X43 

Tue's Open kit 2*731 off 403 

* l SSr*X* Potter, rertrorca. 

38760 38X00 ripv 91 38*10 

426JB 34X00 gew 38*00 30760 3B560 3B6 83 

411 go 361 9) Fob 95 389.70 391 60 38960 39*60 

U-2S 398 n 397.00 39810 

llvio *** 4,1 00 

ss jgggg « -a 

<3*20 418X0 Apr 94 4»60 

431 JO 41X60 Jun 96 424.70 

_ auo 9« eon 

Ed. sates 34.000 Tue's sotes 25600 

Tue's open H 166690 up )6I4 


■ IX 
-16 59614 
• 1.2 
•IX 34695 
■IX 5.529 
‘IX 7.798 
-16 1633 
• 1.8 10622 
• Ift 

•16 4.540 
*).* 

‘IJ 


-160 17.047 
—160 7.308 
1.967 
9P 

-160 


-060 

— *60 74J49 
— OJO 

— OJO 77669 
-OJO 10.399 
—040 10.551 
—061 4.061 
-OJO 

— 0 10 9667 
-060 
— 0.10 

—0.10 5-459 
— 0.10 


9467 

9190 

93.43 

9X11 


Financial 

IBT.BIUJ (OUER) sinOT^OTjfMOBa 
9*10 9465 Dec 94 9*48 9461 9*46 

9M5 n««ar« ^-98 94J8) WJ9 

MX4 93.44 Jun 95 9364 73 Ji 914J 

«67 91 19 Sep 95 

iss « 55r^»- w «■» "n* J 


—067 1*741 
— OJ06 10.515 
—060 *410 
—065 77 


167.163 

16.163 

>0 


IDO-16 99-21 
99-24 98-30 
98-2* 98-10 


14 


J14-31 99-03 Doc 94 95- M 
’’J-® 98-13 MOT 95 99-12 
S'? Ji"Kta-26 
97-76 5m 95 
110-31 97-12 Dec 95 
fw? *" 9*03 sales ID9J3B 

iro 1295 


99-33 — 
90-31 — 
98-11 _ 
97-27 - 
97-IJ - 


7MJ15 

31.561 

227 


11683 

349 

1 ST 

SO 

28 


5JL® ’I'!? D0C94 97-14 9B-OB *6-31 97-03 -T 

S"1J MOTW974U 97-20 96-17 to-15 _ 

»*-l» 77-00 95-27 9S-29 _ 

J- J *+l« Sep 95 5S.J] _ 

113-14 9X77 Dec 95 «!y, 

Iflltjn 2I 5 •*»* 94- 16 — . 

100-n 9V04 lyn 

Sen n-51 Z 

™ - » & 

■W ^kSOTi tfii 12,507 IB 

kllMhuMMiBlIOdlVt 

” l#0 ra1 *l nm n«M -10411 303 

” ’5 JXJM 93 4« 93318 91 BO -»04T4 S 

9?tm££k 2'92 E * 0 H - 420 -«w ^6 

S l«Sr£« 2-5° 914,0 91470 «■*» —70 749601 

91 180 Dec 9; 97650 ■rirx 9XM0 92 310 -JOIBtS? 


95 580 

94 >10 

94.550 
94 780 


Season Season 
Hteh LOW 


Open Htoh Low Close Cho OPJnl 


S- 7 52 MarM 91,90 91230 01,10 91,30 — 40162X09 

£!5£ 9 9506*196 9X050 92690 9X000 92600 —3013*340 

JS-Sta _ ,, ^4psep»6 ’1950 92600 91.910 91.910 -20123,117 

El) soles 693.4/1] Tue's. sates 569.948 
TuesoptnlWI 264X176 up 15706 
f?!?* •"■■■► 1 poinrwtuuii tarooi 

tSS l- 5730 3 -57S« 1J848 1J710 -38 4*197 

4M0MOT95 1-5690 1J750 1J636 1^706 -32 7*2 

l*»0 !J348Jun95 1 J692 —22 3) 

Est totes 70.041 Tue's. sates l*75B 
TiW SMOTM 46.959 Off 1605 

CANADIAN DOLLAR ICMER) lierpr. iDaternwaktOAHI 
0 7038 Dec 94 0-7326 07X18 073)9 0.7324 
07020 Mot 95 07326 07337 07322 07325 
*694flJun9S fl 73)9 

06M5Seo95 07317 07317 07317 07311 

0 7040 Dec 95 07310 07310 *7300 *7300 

O.73I0MW96 07780 

1X554 


0’67O 
*? 60 S 
0 7$r 
07*38 
0 7400 

0 73X4 

§« .wttes X99i Tub's, sates 


135X72 
—5 7X81 
-3 1625 
—4 846 

107 
*2 4 


Tue's OPOTlnl 39.735 up 870 

(CM* 3 ?) twmrt-liKOTMuOTtOJMIl 
0^31 0-55^0 Dec 94 0-64)0 *64,6 06417 06450 

0 6745 O5B10MV95 06445 06471 06429 064M 

°A747 0^80 Jun 94 5648a O.MW a*BS *8485 

*47« *6147 Sep 95 Q 4495 **495 06«9S *6510 

Est. sates 38.047 Tue's. sates 34.204 
Tue's Oten lie 100.907 up 4692 
JAPANESE YEN (CMERJ InwWminialinn 
J S'STSS WtSSSDcc 94 *0101550610212*6101 530.010] 93 

dmSSISSS^^ OO, 0505*6, rnmMmmmwm 

U-OIWSD0ID7OWWor94 OOlSw 

Esl .sates W.S» WL sates U no ™ 

ta -* 37 “9 1927 

IC64ER 1 sewironc. i Mint eeutsfUoot 

s» sax&n 07773 on “ ^ 

Esi sCTes 75,184 Tue's sates 21591 
Tua'sopenm 51.985 up 2733 


♦ 19 91103 

+ 20 

7J79 

+ 21 

1X10 

+ 22 

115 

to 


•38 71X77 - 

+ 39 

6570 

♦ to 

718 

+ 41 

183 

+ 42 

71 

+*! 

10 4 


•19 49,100 
♦19 2627 
♦19 253 

* 19 6 


Industrials 

COTTON J (NCTTil sotok-arowb. 


4.4V Dec 94 74 JO 7*49 

7*15 6*50 Mot 9s 7560 7*10 

64.00 Mav 95 7*90 77.10 

WWJu'W VM 77.70 
74.70 M60OCT95 7160 7160 

tX80 6*25 Dec 95 70 JO 70J0 

7100 6* B0 Mot 96 

^ MOV96 

Elf. sates NA Tue's. sties usaz 
Tue SOPOT int 5*452 off 45 
tESHNSO* INMER) *Loaoi 


7*05 

7565 

7*70 

77.45 

7165 

»*1S 


7*40 

7565 

7760 

77 JB 
7160 

70.50 

7165 

7165 


5900 
K1 9S 
S8.»5 
57 JO 
55-15 
5*30 
5X30 
5460 
55.60 
5X10 
5195 
S4.J0 
5760 
58-50 
39 JO 
5*90 
5*50 


48.95 

4960 

5*10 

5*10 

49.45 

4*95 

4*60 

4*85 

4865 

4960 

5060 

51-50 

5265 

5X65 

cang 


4765 

4865 

4860 

4*95 

4860 

4*10 

47.75 

4*15 

4*60 

49X5 

SOJSO 

5160 

5265 

%-HVI 

cinff 


4766 

48J7 

6961 

4961 

4861 

4061 

4761 

461 

4866 

49X4 

5066 

516) 

5X16 

5X71 

5X66 

51.9* 

51.11 


46 80 D« 94 
4X25 Jon 95 49X5 
47.95 Feb 95 4965 
«00Mor95 »3i 
A05Apr9S 49X0 
474)0 Mav 95 4*80 
*6 19 Jun 95 4*60 
4765 Jut 95 4865 

41 70 Aug 95 4*65 
«65S»95 4960 
5*05 OCT 95 5060 
524)0 Nov 95 51 JO 
5-70 Dec 95 5X45 
5*30 Jan 96 5X65 
SIBJFebW 5X00 
5*70 Mar 96 
4*0b Apr 96 

Est. sates 4X4)9 Tue's. sates 4X114 
Tue so pen int 154X60 up 4 
bf9« TSW ^j:P^ (NMER) 14WMH..d«kr,e, 
,7J8 1769 1W6 17X4 

|7JS 17J6 1767 

J’68 1767 1767 

1764 1769 )7J« 

1764 17X3 17S 

1760 1760 

J 7 - 31 ,7J ° 

17X7 17.45 1765 

1760 1269 17M 

K-g "-SO T7J0 

'7-g 17-W 17J9 

17-70 17 JS I7J5 

]7 JB 1763 

J- 00 HAS 
, 17 '® 1767 1767 

Tue'soaentot 390,101” ud 319a 21 ' S7 ° 
JJ^^gWOUNE INM^I 
60 80 X, DO Dec 94 5765 - - 

50l50Jot 95 win 

5X80 Mar 95 uw 

56J5Apr9S S7XR) 

“■taMm>9S 5*« 

SILK) Jun 95 15 v \ 

55X0 Jui 9S 5iog 

M4»5aa95 SS 

Si J****l‘* S*« 

474)67 Tub's, sates 


— *70 15613 
. 2X313 

-0415 7^62 
-0X4 4,924 
6*10 643 

3657 
♦ 0415 40 


— 0X4 37034 
-0183 40JI7A 
-0X9 2X548 
-069 12-743 
—0-59 9,166 
-0J» 4JM 
~0M 7 JIM 
— *54 *505 
— *54 i027 
-054 1132 
— *S4 1,547 
— *54 1,158 
-0J4 4,764 
— 054 SS6 

—0-54 
— *54 
— *54 


2*80 
1965 
19.40 
2066 
I960 
1964 
20X0 
19 07 
194)7 
1*60 

19 17 
I94M 

20 DO 
21.15 
I860 
Est. sales 


SB M 
5*85 
56.95 
6060 
5*70 
S8J0 
57.94 
5*35 
57 29 
Est. sales 


1*93 Dec 94 
15. 15 Jot 95 1764 
15 » Feb 95 1743 
1562 Mar 95 1761 
■5 J5 Apr 95 1763 
15. 69 Mav 95 17J5 
»JDJun95 17JJ 
*Q5Jui9S 17 J5 
1;^ Aug 95 1760 
17«Seo95 1760 

IB420CT9S 1767 
IMSNovTS 1760 
1 6. 50 Dec 95 1764 
1705 Jon 9« 1762 
, 7 -ISMot 96 1767 
I74JM5 Tue's. sates 


—062 45603 
-064103667 
—061 00X61 
-0.20 I7JT4 
— *20 18,140 
-0.11 1X081 
— *13 25653 
— 04# 11X97 
-COT 7X1 1 
— *13 H-TP 

— *00 4JCT1 
-015 5401 
-*11 1 X 120 
-0.13 7.708 
-4411 * 282 


S765 
5560 
5*65 
5*0) 
57.50 
56 JO 
5560 
wnp 
SUB 
5*40 


Tue's awn mt 70 348 off 244 


244778 


5X45 

5X40 

5X90 

5115 

56X5 

55.50 

5560 

■KM 

5360 

5460 


5565 

5X50 

5260 

53X5 

5*30 

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INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 


Page 13 


EUROPE 



ns Get 


g| Chance to Buy 
! >ik Renault Shares 




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li ' ! - tail 




Bfoc*nberg Btmnas News 

PARIS —Renault SA shares 

tboogh snubbed by individual 
investors, are likely to be 
snapped up by institutions 
when they begin trading Thurs- 
day cm the Paris Bourse. 

while demand from individ- 
ual inv estors was tepid at the 
government’s partial privatiza- 
tion of the automaker, institu- 
tional investors last week de- 
manded 15.5 times their 

allotment from the government 

“Institutions are going to be 
allocated a small amount of 
shares from the government 
and will want to buy," said Car- 
ole Guerin, a trader at Leven 
Chausaer in Paris. 

Edmond Alphanddry, the 
economy min ister of France, 
said individual demand for 
shares Wednesday at 165 francs 
f^Jl) each had equaled 1.4 
times the number of shares 
available. That was far weaker 
than the demand for shares of 
other state companies sold dur- 
ing the past year. 

Shares for institutional inves- 
tors were priced at 176 francs, 
and in the so-called gray mar , 
ket, where prices are set in the 
days leading up to public trad- 
ing, Renault snares were being 
offered at 179 francs to 180 
francs. 

Mr. Alphandery said Renault 
was not comparable to other 
French privatization efforts, 
because the government will re- 
tain a 50.1 percent stake. In 
other cases, the government 
gave up control. 


Many analysts said Renault 
snares would be an attractive 
long-term investment only when 
the state gave up majority con- 
trol Then investors would not 
have to worry about political 
considerations hampering the 
strategy of the company, which 
employs 100,000 workers in 
France and has traditionally 
been a bastion of labor strength. 

The French government re- 
ceived 7.95 billion francs from 
the sale Wednesday. 

Analysts said the relatively 
weak demand from individuals 
reflected a reluctance to buy 
stocks in general because of a 
slumping market. French in- 
come taxes, which had to be 
paid recently, also may have cut 
into private spending. 

The CAC-40 index of French 
blue-chip shares has fallen 16 
percent since the beginning of 
the year. The market’s slide 
hurt prices of four other compa- 
nies that had been privatized — 
Elf Aquitaine, Rh6n e-Poulenc 
SA, Banque Nationale de Paris 
and Union des Assurances de 
Paris — although some have 
managed to recover. 

■ VW to Raise Skoda Stake 

Volkswagen AG is expected 
to agree Friday to raise its stake 
in the Czech carmaker Skoda 
Automobilova AS, Reuters re- 
ported from Prague. 

A source was quoted as say- 
ing Volkswagen would increase 
its stake in Skoda to 50.5 per- 
cent from 31 percent. 


Dorotheum Bids for Higher Role 

Austrian Auction House Aims lor Global Expansion 


Industrialist 
In Portugal 
Regains Bank 

GmpUedtyOurSieffFrimDapaichtt 

LISBON — Antonio 
Champalimaud, a Portu- 
guese industrialist, bought 
80 percent of the state-run 
-Banco Pinto e Sotto Mayor 
~Ja, a bank he owned be- 
fore nationalization in 
1975, for 37.3 billion escu- 
dos ($237 million), the Lis- 
bon stock exchange said 
Wednesday. ■ 

The remaining 20 per- 
cent is to be sold later to 
small investors and em- 
ployees. 

Bidding through his in- 
surance company , Mr. 
Champalimaud outbid the 
investment bank Fi nantia . 

Mr. Champalimaud, one 
of a small group of indus- 
trialists who controlled 
much of the economy be- 
fore Portugal’s revolution 
in 1974, fled to Brazil after 
the revolution and built an- 
other financial empire 
based on the cement busi- 
ness. He later returned to 
Portugal. 

(AP, Reuters) 


By Roni Amelan 

Special to the Herald Tribune 

VIENNA — Austria's leading auction 
company, the Dorotheum Auktions-. 
Versa tz- & Bank GmbH, set up in 1707 
by imperial decree to offer cheap credit 
to Austria’s poor, has embarked on an 
ambitious global expansion despite the 
sluggishness of the world art market. 

Hoping to improve on the state-owned 
company’s 1993 revenue of 1-5 billion 
schillings ($138 million), Alfred Kamy. 
the general director, has concluded a se- 
nes of international cooperation deals in- 
cluding. in mid-October, a sale of postwar 
Austrian an conducted jointly with Soth- 
eby's Kuns tank ti anra GmbH in Vienna. 

A more lasting international alliance 
was forged in the spring when the Dor- 
otheum joined the International Associ- 
ation of Auctioneers, along with the Brit- 
ish auction bouse Bonhams; the leading 
auctioneers on the U.S. West Coast, But- 
terfield & Butterfield, and the New York 
rare-book specialists Sw ann Galleries. A 
separate deal was concluded with Toshi 
International, a Tokyo gallery, last 
month for representation in Japan. 

But what is unique about the Doroth- 
eum is the position it occupies, and nur- 
tures, in Austria, where it plays the parts 
of pawn shop, savings bank, bargain- 
jewel ery and china retailer, and auction 
house. Exhibits are displayed in the well- 
lit restored lobby of its Belle Epoch pal- 
ace, which since 1991 has also held a cafe 
open to the public. 

With 22 branches across Austria and 
in Prague, the company seeks to draw 
people from a far wider circle than the 
international art set. This is why, Mr. 
Kamy said, the company opened its 
Prague branch in 1992. "It was a long- 
term investment destined to get a fool- 
bold in the nascent Czech art market and 
to facilitate access to art pieces for auc- 
tions in Vi enna. ” 

Mr. Kamy said that “direct jewel ery 
sales in Prague have been attracting a lot 


of people, which is good for us.” He is 
considering “maybe one day" holding 
auctions in Prague. 

Mr. Kamy is probably correct in 
claiming that his company “is as much of 
an institution as Sdhdnbrunn," the impe- 
rial palace near Vienna. 

The Dorotheum ranks as the ninth 
auction bouse on the world market, and 


The Dorotheum plays 
the parts of pawn shop, 
savings bank, bargain- 
jeweleiy retailer and 
auction house. 


Mr. Kamy says he knows be cannot 
compete with the two giants, Sotheby's 
Holdings Inc. and Christies Internation- 
al PLC. 

He said that “these are early days” in 
the Dorotheum’s international develop- 
ment. In 2979, the institution became a 
limited liability company, after more 
than two centuries as a nonprofit organi- 
zation. It has since become “the Central 
European leader in Old Masters auc- 
tions," said Michada Strebl a spokes- 
woman. 

Mr. Kamy said his international poli- 
cy was intended to “increase our sales 
force, to get the sort of force which 
Sotheby's has.” 

Speaking on condition of anonymity, 
one market expert dismissed the Doroth- 
e urn's international alliances as “gim- 
micks." saying that, “very few such part- 
nerships have yielded tangible results in 
the past.” 

Mr. Kamy said his determination to 
improve the Dorotheum’s international 
standing had not deflected his commit- 
ment to its “social role” and his intention 
to continue accepting pawns from 


400,000 customers who account for 400 
million schilling s in outstanding loans. 

According to Mr. Kamy, most of the 
loans are given “to people too hard up to 
obtain bank credits." But random inter- 
views showed that many well-heeled 
Austrians have been known to use this 
service at least once in their lives. 

Until not so long ago, many middle- 
class women, though not driven by ne- 
cessity, would pawn their furs in the 
summer. Secure in the knowledge that 
their pelts would be well looked after, the 
women preferred to get cash rather than 
pay for cold storage. But furs are increas- 
ingly hard to sell and the Dorotheum no 
longer accepts them so willingly. 

In Vi enna, individual cells are re- 
served for shy patrons eager not to be 
seen while they pawn their family jewels, 
battered Walkmans and, at least once, “a 
parrot — although it is general policy not 
to accept living things,” Mrs. Strebl said. 

Since 1921, the Dorotheum has been 
operating a savings bank to refinance 
loans, for which it charges a 30 percent 
annual interest rate. The Dorotheum has 
to get rid of the approximately 20 per- 
cent of pawned goods that are never 
redeemed. This is why it began to hold 
auctions in the 19th century and later 
turned to direct sales as wdL 

Mr. Kamy is now concentrating on 
quality sales with color catalogs, but be 
said: “Our policy goes in both directions. 
We want to get everyone to the Doroth- 
eum, while concentrating on quality for 
the world market.” 

Bric-a-brac auctions are still held at 
the Dorotheum twice a day , but the orga- 
nization now publishes catalogs for 
about 10 specialist auctions a year. 

But the Dorotheum stiB does not ben- 
efit from real exposure on the key mar- 
kets of London and New York. 

Francois Curiel Christie’s vice chair- 
man far Europe, said the Dorotheum 
was “sometimes a local competitor when 
we want to get a certain piece.” 


Investor’s Europe 



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Sources: Reuters. AFP 

International Herald Tritxmc 

Very briefly: 


• Britain's annual retail inflation rate rose to 2.4 percent in 
October from Z2 percent in September, while its unemployment 
fell by 45,800 to 2.52 million, or 8.9 percent of the work force. 

• Swissair said flight operations posted a loss of 220 million Swiss 
francs ($169 million) in the first nine months of the year, indicat- 
ing a deeper loss than in the same period a year ago. 

• Land Securities PLC said profit rose a slight 2.5 percent, to 
£1 18.9 millio n ($188 milli on) from £116 million, despite a weak 
British property sector. 

• Hoechst AG's management board chairman, Jtirgen Dormann. 
said profit was likely to grow by at least the same rate in the 
second half of 1994 as in the first half, when pretax profit rose 39 
percent and net profit climbed 62 percent. 

• Hambros PLC, the British merchant banking group, said profit 
slid 54 percent to £21.5 milli on in the six months ended Sept. 30. 

• RTZ Corp. said an accord reached in October to sell its 
Ridgeway mine to Kinross Gold USA Inc. for $47 milli on had 
been called off; it would not comment further. Roam, AFXBioombcrg 


EU to Debate How to Replace Telecom Monopolies 


Compiled by Oar Staff From Dispatches 

BRUSSELS — On Thursday. 
European Union telecommuni- 
cations minis ters are expected 
to agree on Jan. 1, 1998, as a 
deadline for abolishing tele- 
communications monopolies, 
but steps to allow cable televi- 
sion companies and others to 
compete sooner are likely to be 
thwarted, diplomats said 
Wednesday. 

The union derided last year 
that ordinary telephone calls 
should be exposed to free com- 
petition before 1998, but they 
did not agree to a timetable for 
ending state monopolies in oth- 
er services such as data trans- 
mission, mobile communica- 
tions and corporate phone 
networks. 

As an interim step, the Euro- 
pean Commission proposed last 


month allowing companies op- 
erating television cables, rail- 
way telephone lines and other 
so-called alternative networks 
to supply a restricted number of 
telecommunications services 
from next year. 

Only France, Britain, Ger- 
many and the Netherlands sup- 
port the co mmis sion proposal 
officials said. The decision re- 
quires unanim ous backing. 

Officials said Belgium, Spain. 
Portugal and Ireland, countries 
that had been given until 2003 
to open up telephone calls to 
full competition, were seeking 
similar delays in opening up 
other sendees. 

“It is likely that the ministers 
will adopt a resolution liberaliz- 
ing infrastructure, but it is un- 
clear with which conditions and 
with what wording on liberaliz- 


ing alternative infrastructure,” 
one source said. 

France. Britain. Germany 
and the Netherlands will proba- 
bly press for strict conditions 
on universal access, intercon- 
nection charges, licensing and 
access for non-EU operators, 
diplomats added. 

Many diplomats said any de- 
cision would not stop the com- 
mission from deciding on com- 
petition rights regarding cable- 
TV networks. 

An aide to Karel Van Mien, 
the competition commissioner, 
said Mr. Van Miert would pro- 
pose opening cable-TV net- 
works after the ministerial 
meeting. 

The telecommunications 
ministers are also likely to set 
digital television standards to 
be used by manufacturers of 


sets, broadcasters and produc- 
ers, the diplomats said. 

(AFXjiP) 

■ EU Looks Into French Aid 

The European Commission 
derided to investigate alleged 
subsidies given by France to its 
public television production 
company, Sori6t& Framjaise de 
Production. Agence France- 
Presse reported. 

The commission said it 
would pursue its investigation 
after it found that two rival pro- 
ducers had sufficient reason to 
complain that the French gov- 
ernment had breached the 
terms of recapitalization pack- 
ages approved by the commis- 
sion in 1991 and 1992. 

Under the recapitalization 
packages, the French govern- 


ment and other public share- 
holders pumped a total of 1.43 
billioD francs ($270 million) 
into Sorietb Framjaise de Pro- 
duction, winning authorization 
from the commission on condi- 
tion that these were final cash 
injections and would be used to 
fund a restructuring program. 

But according to the rival 
companies, the French govern- 
ment has given a further 460 
million francs to the company 
since 1992 and was contemplat- 
ing a 400 million-franc injection 
this year. 

The government rejected 
these claims, maintaining that 
the new funding was essential 
to prevent the company from 
going into bankruptcy while the 
restructuring plan, delayed by 
the slump in Uie property mar- 
ket, was being completed. 


Aidedbylts Treasury, 
EBRD Manages a Profit 


Compiled by Our Stiff From Dispatches 

LONDON — The Euro- 
pean Bank for Reconstruc- 
tion and Development said 
Wednesday it had an operat- 
ing profit of 3.6 million Eu- 
ropean currency units (S4.5 
million) in the third quarter, 
reversing a second-quarter 
loss of 6.1 million Ecus. 

The turnaround was fu- 
eled by what bank officials 
called an “outstanding” per- 
formance by its treasury de- 
partment, which manages 
and invests the bank’s cash. 

For the full year, bank of- 
ficials said they expected to 
be “around break-even” but 
said they did not really 
know. Officials spoke on 


condition of anonymity at a 
press briefing. 

A little more than a year 
ago, the bank was under at- 
tack for inefficiency and the 
flamboyant spending of its 
first president, Jacques At- 
tflli. His more subdued re- 
placement, Jacques de Laro- 
sifcre, has pledged to put the 
bank back on track. 

The officials said the pace 
of project approvals would 
pick up toward the cod of 
the year. They said that 
would mean higher costs for 
the last quarter, because ad- 
ditional deals would involve 
bills for items such as legal 
and accounting services. 

(Bloomberg, Reuters) 


ADVERTISEMENT 

ASAffl OPTICAL CO., LTD 

(CDRs) 


The undersigned announces that the 
Consolidated Financial Statements 
or Atokl Optical Co^ IAL 
will be available in Amsterdam aU 

ABN AMRO Bank N.V. 
MEESPIERSON N.V. 
KAS-ASSOCIATIE N.V. 

AMSTERDAM DEPOSITARY 
COMPANY N.V. 
Ams terdam, November 14, 1994, 


advertisement 


K0HAED FORKLIFT CO, LTD 

(CDRs) 

The undersigned announces that tiic 

Annual Report 1994 of Ko*at« 
Forkltil Co^ Ltd. will be arable in 
Amsterdam afc 

ABN AMRO Bank N.V. 
MEESPIERSON N.V. 
KAS-ASSOCIATIE N.V. 

AMSTERDAM DEPOSITARY 
COMPANY N.V. 
Amsterdam, November 14, ‘994. 


LVMH 


MOET HENNESSY. LOUIS VUFTION 

REPORTS 16.5 % RISE IN NINE-MONTH SALES 

In the first nine months of 1994. the LVMH Group recorded consolidated net sales of 
FF 1 8.8 billion, an increase of 16.5 % over the comparable 1 993 period. The lower exchan- 
ge rates of certain currencies against the French franc hampered the growth in sales in the 
third quarter. On a constant currency basis, nine-month sales are up 14.4 
By segment of activity. Group sales increased as follows : 


in FF millions 

1993 

1994 

Champagne and Wines 

3.067 

3,205 

Cognac and Spirits 

4,159 

4.244 

Luggage and Leather Goods 

3.946 

4,782 

Perfumes and Beauty Products 

4,366 

5,085 

Other activities 

582 

1.470 

LVMH 

16,120 

18,786 


In the Champagne and Wines segment, sales volume rose by 10 9h. in line with the progres- 
sion recorded in the first six months of the year. LVMH’s global brands - Dorn Perignon, Modi 
& Chandon and Veuve Clicquot - posted the strongest growth rates. 

In Cognac and Spirits , the growth in sales was hindered by the lower exchange rates of the 
Japanese yen and US dollar. As a whole, sales volume was 3 % higher than in the comparable 
1993 period. In the Japanese market, sales continued to improve despite the moderate pace of 
the economic recovery. 

In Luggage and Leather Goods , sales growth was limited by current undercapacity resulting 
from continued sustained demand. In 1995, the increase in Louis Vuitton’s production capa- 
city should enable the company to fully meet the growth in demand. 

Rnallv in the Perfumes and Beauty Products segment, sales of Parfums Christian Dior, 
Givenchv and Kenzo rose by 15 <* over the first nine months of 1993. The outstanding suc- 
cess of Christian Dior's Tendre Poison" and "Hydra Star" was comforted in the third quarter. 
Three launches were successfully conducted by segment companies : "Insense Ultramarine 
bv Givenchy ; the introduction of Kenzo perfumes in the US market : and the European 
launch of "Kashaya de Kenzo". Guerlain is consolidated in the segment's financial statements 
since the beginning of the second half. 

Taking into account current sales growth and the activity outlook for the last quarter of the 
year. LVMH continues ro aim at net income growth of over 20 * for the year as a whole. 

LVMH, THE WORLD'S LEADING LUXURY PRODUCTS GROUP 


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NASDAQ 


INTERNATIONAL 


umbmr aj 

H*miM nog DK- vid pe wh High UwuneslChiia 



building material 


(IV-58) VAJ .Jeigava Burning r™» 

[^LOOOdm], [D2mS.wy8Q 

(LV-98) V/U .Smtttene Htoad and Matal Manutadur 
big Company" 

Smtttene , IV 4729 

(Waste bins [100.000 pcs], Metal hangars [46 pcs], 
woocterr cottages [ZOO pcs], 765) 


(LV-4S)VAJ .Riga Canftrart Factory" 

Riga, LV 1004 

(Can&oarti articles [8 mtS. sqm], [0, 14 mO. LVL)/80) 
(iy~95) Assets of 

VAJ ■StahsBles Paper Factory" (leased out} 

Llmhazu, LV 4043 


FTTTTJfK / T / f i 



HEAVY ENGINEERING 


rtepan rnaTtMO.177 


(State owned) 

Ifisa.ivime 

(Stoprspafrpk^dyd™ 
22 m), 350m quay] dtesdtui 

[100 pcs] R6 U/LJMIT) 


[600.000 cbm], lean paper [1,5 mill, sqm] 

[29.000 LVLJ/42) 


TEXTILE iNDUSTP.Y 


(iy-56)V/U .KraSava Ha* Processing Factory* 

Krastava, LV 5601 

[Fbxnbetsp.lOOf], long ttoc fibers [400 q. 

p2.ooow.yio) 

(1V-57) VAI .Ludza Rax Processing Factory* 

Ludza, IV 5701 

(Lmg and short Bax Ftoers, linen p.100 1 Rax fiber], 

[20.000 wyst) 

P-61) V/U .Preti Rax Processing Factory" 

PreW,lV5318 ■ „ 

(Flax ftoets p 200 q. tong haxSiers [600 0,77) 


li/7(TT:~i.77r^<'i ' ■ ■IVFL/vi 



p-9l)V/u.Rigas fifes* 

Riga, IV 1009 


TRANSPORTATION 


(LV-31) VAI .vaflsptts Transports Bcsperfic^a* 

Vertspite,lV3802 




p-32) v/U ,RezeknesTransp«teA(Wfeniltf 
Readme, IV 4600 

(fteadironoxrt [37 mutton] [0.15 mS.wyi90) 

(ty-52)A/S .BrasteHansportaUorf 
Riga, LV 1084 



V.'OOD AND WOOD PROCESSING 


p-06) V/U .Daugavpis Furniture Rant" 
Daugavpils, LV 5400 

(Bedroom furniture sets p 1.700 pcs], wardrobes 
[13.100 pcs i beds [7.400 pcs], armchairs 
[1.680 pcs], divan beds [840 pcs] toldmg chairs 
[220.000 pcs], [0.5 ittiL Wj/359) 

p-08) V/U .Latgale Furniture Plant" 

nga,iyi019 

(Upholstered furniture p.Omd. IMJ7200 ) 

p-50) VAJ JKurzemes PriedB Forestry 
Llepsja, IV 3401 

(Sam timber £200.000 cbm], EuropaOets 
[8.000 cbm], m 

P-6ZJV/U JUuksne Forestry 
AJtAsne, LV 4300 




[2.500 dm] paper wood [2000 cbm], wooden 
Chips [450 1], [022 mOL WJ7112) 

p-63) V/U „Cesu Forestry" 

Cesis. LV 4100 

(Round timber export {50.0000m] sawn timber 
[12000 dm] wooden chips [ 10.000 dm] 

transport servrca, [0,3 mSL LVQ/95} 

p-64) A/S .Daugavpils Forestry 
Daugavpils, IV 5400 

(Timber togging /7DJ0O dm], sawn timber 
[2.000 Om] [Dfiim IMJ7207) 

(LV-65JV/U .Sutoene Forestry 
eutoene. LV 4400 

f7o7^er tofiagaV*? /50.030 cimJL sawrt 
[3.500 am l [OJSmSL MJ/158) 

(LV-66) V/U .Inoikains Forestry* 

Riga region. IV 2141 


iwr.TFZiiiiiiiiTasiiicuii-' 


[7.000 cbm], wooden chips [20.000 cbm], firewood 
1 20.000 cbm] P.1 fl® 13/1)7272) 

(LV- 67) Assets or 

V/U Jauijelgava Forestry (leased out) 

Aldraukte region, L¥ 5134 

(Wood processing [24.000 cbm] [0,42 mm. Utij/114) 


(LV-68) Assets of 

VAJ Jekabpfts Forestry* (leased exit) 

JekahpHS.LV 5205 

(Timber fogging [208.000 cbm), sawn mber 
[8.000 cbm] [0.4 mat. W.J/92) 

P-69) A/S .Koknese Forestry 
Afekraukle region, IV 5113 
(Timber togging [60.000 cbm] sawn timber 
[3.000 dm] [0,8 miS. UA.y293) 

(LV-73) v/U .Mazsaiaca Forestry 
VaJmtera region, IV 421 5 

(Pulp-wood [8500 cbm] sawn timber [1.000 Om] 
firewood [15.000 cbm] plywood togs p.400 cbm] 
[0,34 mill. WJ/167) 

p-74) A/S .Ogre Forestry 
Ogre, LV 5000 

(Sawn timber [2600 dm] paper wood 
[8.500 cbm] firewood [23.000 cbm] 

[ 0.6 miB. UILyi91) 

P-76) V/U .Saldus Forestry 
Said us, LV 3801 

(Timber togging [46.000 dm] sawn timber, 

(0.5 mm. I2LJ/140I 

p-77) A/S ^trencu Forestry 
Vata region, IV 4730 

(Paper pdp [20.000 cbm] balks pi.000 dm] 
plywood logs [3.500 cbm], tedn wood-pulp 
[15.000 cbm] sawn timber [3.000 cbm], firewood 
[20.000 cbm] 1 0,8 mm. U/Q7204I 

P-78) VAJ .fats Forestry 
TalSi. IV 3257 

(Paper wood [5.200 cbm], sawn timber 
[7.300 cbm], round logs [3.000 cbm] 
(0.4mfB.lMJ/235) 

P-79) V/U .Tukums Forestry 
Tukums,tV3100 

(Round logs p5. 000 cbm] firewood [13.000 dm] 
sawn timber p.500 cbm] [0,5 ntiti. Lilj/150) 

p-80) V/U .Ziguri Forestry" 

Baivi region. IV 4584 

(timber logging [25.000 Om] sawn timber 
[2500 Om] match togs p 200 cbm] 

[0,7 mBL IM]/209) 

p-105) V/U .Dundaga Forestry 
TOS1.1V3Z70 

(IMiarloggtog [10.000 cbm] sawn timber 
pj00cbm],/9S) 


p-21)VAJ .Olaine Chemtert-Phararaceuticat 
Ptart” 

Olaine, LV 2114 

(Medxms [1.500 miB. tablets] raw materials 
tor meddles (700 q, byprodtxris [600 f], 

[4,3 rdB. WQ7969) 

P-49) VAJ .Uvari Biochemical P lanr 
Uvanl.LV 5316 

(Contxnbated forage tysin [3.000 q, [production 
slopped In 1992y64) 


Tender Conditions 

1. in accordance wtth its legal mandate the Latvian 
Privatization Agency LPA intends to sell the afore- 
mentioned enterprises by means of an Interna- 
tonal tender In the blowing manner 

a) bids for a stale owned Joint stock company 
(organized as A/S under Latvian law) must be 
for the majority of the shares of the company. 
LPA may reserve a minority ot Die shares of the 
company tor future pub&e ottering of shares; 

0) teds tor a state owned enterprise (organized as 
VAJ under Latvian law) must be tor its total 
operations; 

e) bids tar a plant or leased out enterprise must be 
lor Its total assets (e. g. braidings, leasehold, 
equipment and inventory) with inventory finally 
lo be valued as of the time ot acquisition: 
d) Uds lor assets or parts ol an enterprise must be 

tor a separable unit oi a AiS. V/U or plant, with 
inventory finally to be valued as of the time ot 
aquisition. 

2. The tender is public and anyone may bid. 

3. In decking among the bids, LPA w» take into 
consideration, among other things, the bid price, 
premises to maintain or create jobs, pledges to 
invest, and the business plan submitted, each ot 
which will be considered part ot the bid. Upon 
signing a contract, the successful bidder wiD be 
required to posrabondtoguarantee these pledges. 

4. Interested parties can obtain ertetprise and plant 
profiles without charge from LPA. LPA is no* re- 
sponsible for the accuracy and campfeteness of 
tits information. Prospective bidders wH receive 
written authorization from LPA to visit theensar- 
prises or plants on the basis of which information 
wU be provided by the enterprise or ptart manage- 
ment. 


(LV-60) V/U .Sekfas Wholesale" 

Jelgava, LV 3008 

(Vegetables and flower seeds wtofcsate 
[02 miB. LVL}/52) 

(LV-89) V/U .Riga Travel and Excursion Office" 
Riga, IV 1050 

(Travel agency , [20.000 W.J/9) 

p-101) VAJ .Baivi Road Construction* 
Balvi.LV 4500 

(Road construction, asphalt [70.0000. Sting 
material [200 m®. dm] [0. 1 mill. U/L)/54) 


5. Bids must be In wntmg and should be submitted In a 
sealed envelope marked only with the name of the 
enterprise or plant for wtvdi the bid Is submitted. 

6. Bids, must be received at LPA 31. K. Vaktemara 
Street. Riga, Latvia-1387, rto later than 2:00 p- m. 
(local lime), on Dec. 22, 1994 (the "closing date"). 
Bids w31 thereafter be opened immerfiately. Bids 
must be denominated in Latvian Late (LVL). and 
shafi remain vald for one hundred and twenty (120) 
days after the dosing date 

7. Bids must be accompanied by a bond of five (5) 
percent ot toe bid value in the lorn of an irrevocable 
bank guarantee valid lor one hundred and twenty 
( 1 20) days after the closing date. The bid bond must 
be payabieon first demand and wifl be torteiledtt the 
Udder either fails to hold its bid open tor toe required 
period or refuses to sign a contract In accordance 
with its bid. 

8. LPA wil decide on the bids withto one hundred and 
twenty ( 120 ) days altar the dosing date, adders 
may present Ihatr bid within a period set by LPA LPA 
is entitled to accept a bid other than that with the 
highest purchase pnee or may reject any ot ttte bids 
at anytime. 

9. The privatization of the tendered enterprises will be 
carried out accorcfing to appicabte Latvian law. 

LPA (Latvian Privatization Agency) 

DruvisSuile Jiini&NagfiS 

Stale MHstef tor Privatization Oenerektirektor 

(me hours ot LPA are Monday through Friday 

from S a jil until 4 pjn. (local time). 


44 


— Fo r further information (enterp rise profile, data on Latvia, visit authorization) please contact: 

“ . ^ _ •• Tel. +371-2-332082 Fax +371-8830363 

Privatizacijas agentui +371-2-328069 +358-49-1 061 00 

(Latvian Privatization Agency) +358-49-106103 ' +358-49-106101 

IVaidenmr B iel 0 31 .Riaa.LV- 1887 L”a +358-49-106104 +358-49-106102 


+371-8830363 

+358-49-106100 

+358-49-106101 

+358-49-106102 


This project is funded by the 
German Ministry of Finance 
and EU-PHARE 









































































* 


Page 16 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 


ASIA/PAH® 


Vietnam Nears 
Accord to Mine 
Iron Ore Site 


Bloomberg Businas firms 

HANOI — Fried. Krupp ACT 
Hoesch-Krupp, Germany's 
largest steelmaker, and Lonrho 
PLC of Britain are close to sign- 
ing a $13 billion contract with 
Vietnam Steel Corp. to mine 
iron ore in northern Vietnam, 
the stale-owned steelmaker said 
Wednesday. 

Dam Tung Vu, an executive 
of Vietnam Steel, said a South 
African company would also 
join the consortium but did not 
wish to be named at this stage. 

The proposed mining site, in 
Thach Khein northern Ha Tilth 
Province, is es tima ted to con- 
tain 300 million tons of com- 
mercially viable ore, making the 
project one of the biggest min- 
ing ventures yet planned in 
Vietnam. 

l/nder current estimates, the 
project would require invest- 
ment of S1.3 billion over 30 
years, Gerhard Jooss, the man- 
aging director of Krupp, told a 
local English-language newspa- 
per, Vietnam News. 

Krupp and Lonrho have 
completed a S3 milli on feasibil- 
ity study for the mine, and work 
could start in 1996, Mr. Jooss 
said. The study reportedly pro- 
posed an operation that could 
produce 10 million tons oT ore 
annually. 

Krupp is also planning to 
men a representative office in 
Hanoi to look into other oppor- 
tunities in cement production, 
energy and machinery, accord- 
ing to Mr. Jooss. 

The Thach Khe project will 


help meet soaring demand for 
steel in Vietnam’s rapidly grow- 
ing economy, according to Viet- 
namese officials. 

Vietnam Steel, also known as 
Vinasted, recently started work 
on a $15.7 million steel mill in 
the port city of Haiphong. 

Lonrho, an industrial hold-' 
mg company whose subsidiar- 
ies explore and mine gold, plati- 
num, copper and coal, is 
bolding talks with South Afri- 
ca's General Union Corp. on a 
pla tinum mining merger. 

■ Hanoi Gets Aid Pledges 
Vietnam received a vote of 
confidence Tuesday from for- 
eign aid donors, news agenties 
reported, winning pledges of $2 
billion in new grants and loans 
for 1993 at a meeting in Paris. 

The new pledges, in addition 
to $1.8 billion promised last 
year, represent an endorsement 
of economic reforms that have 
slashed inflation, trimmed a 
bloated public sector and fueled 
growth rates of 8.1 percent last 
year and 8.5 percent this year. 
The aid was promised by Ja- 
an. Sooth Korea, Australia, 
an ad a, Singapore and 20 
Western European nations dur- 
ing the two-day meeting, spon- 
sored by the World Bank. 

About 30 countries and inter- 
national organizations attended 
the conference. The United 
States, which lifted its trade em- 
bargo on Vietnam early this 
year, art sided as an observer 
but made no financial commit- 
ment. (AFP, AP) 


E 


SeouVs Nervous Success 

Telecom Sale Raises Inflation Fears 


Bloomberg Business News 

SEOUL — An auction of government 
shares in Korea Telecom, the domestic tele- 
phone monopoly, was so successful that it has 
worried some analysts. 

When the Finance Ministry announced the 
results of the auction this week, it said only 
one of every 43 bidders would get a piece of 
the company. 

Some people are not taking the results 
simp ly as an indication of bright prospects for 
the Korean Slock Exchange. 

The Bank of Korea has wrestled with the 
samp problem all year: The fact that so much 
money was available to invest in. Korea Tele- 
com could mean that excessive demand 
throughout the economy risks feeding infla- 
tion, which now stands at 53 percent. 

The bank has said that a rise next month in 
the ceiling on foreign stock investment in any 
angle company to 12 percent from 10 percent 
wflj attract foreign funds and worsen inflation. 

News reports Tuesday said the central 
bank would mop up excess liquidity in the 
economy by raising penalties on banks that 
fail to meet reserve requirements. 

Analysis’ concerns center on the competi- 
tive bidding a flowed in the latest Korea Tele- 
com auction, a change from the set-price 
method used in another stock sale seven 
months earlier. 

Some analysts said the telecom sale had a 
speculative air about it as a result, and they 
■said some successful bidders might be disap- 
pointed at the price they will get when the 
company is listed next year. 

The government has not commented on the 
auction, which far exceeded its revenue ex- 
pectations. 

The Finance Ministry said Monday that 
more than 657,000 bidders had offered to buy 
247 million shares, depositing 1.5 trillion won 
($2 billion), or 10 percent of the amount they 
expected to spend. Only 13,435 of these bid- 
ders were successful 

The government previously sold a 10 per- 
cent stake in Korea Telecom last year and 5 


percent in April The public auction this time 
was for 3 percent of the shares, with an 
additional 2 percent being sold to employees. 

The price of the average winning bid was 
48,848 won a share, and the highest bidding 
price was 110.000 won, the ministry said. 

Sales of a 14 percent stake next year and a 
15 percent stake in 1996 will leave the govern- 
ment owning 51 percent of Korea Telecom. 

Investors rushed to buy because the com- 
pany is highly profitable and promising. It 

international stocks 

has a monopoly on domestic telephone ser- 
vice and is the larger of two international 
phone companies in the country. 

Last year, Korea Telecom had net profit of 
470 billion won on sales of 3 trillion won. In 



Corp. 

Dacom Corp. 

At about 630,000 won a share, Korea Mo- 
bile Telecom, which holds a monopoly on 
mobile phone services, is the most expensive 
stock on the South Korean exchange. Itspriee 
has more than quadrupled in the past year 
amid surging company revenue and M>nir.p 

Shares in Dacom, which has a monopoly on 
data telecommunications services and is sec- 
raid to Korea Telecom in international phone 
service, trade at about 120,000 won. 

Analysts said individual investors wanted 
shares in Korea Telecom because it would be 
the last major blue-chip government monopo- 
ly to offer shares to the public. 

Investors were also bullish about the over- 
all prospects of the stock market, whose 
benchmark composite index has risen 29 per- 
cent this year, while the South Korean econo- 
my has grown 8 percent. 

“The future growth of Korea Telecom is 


guaranteed by the strength of the Korean 
economy,” said Lee Sang Ho, an analyst' 
Ssangyong Investment & Securities Co. 


■lussszssa 


Busin ess 

■ - •. 

Opp ort unit ies 
i n A E 

Offsets, PRiVATiZATiGN ANi) Capital Markets 

Abu Dhabi December 5-6 

The United Arab Emirates is set to experience rapid economic expansion as its economy diversifies 
away from reliance on oil and gas reserves. 

Join our prestigious panel of speakers by taking up one of the limited places at this major 
conference organized by the International Herald Tribune and The National Investor. Participants will 
gain up-to-the-minute information, as well as the opportunity to meet representatives of international 
and local companies who want to establish or expand their business in the region. 


GEC- Marconi 

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Casio Sales 
Fuel a 62% 
Profit Gain 

Bloomberg Business Nous 

TOKYO — Casio Computer 
Co_ one of the world’s largest 
makers of digital watches, said 
Wednesday that a surge in sales 
of electronic musical instru- 
ments and office automation 
equipment pushed earnings up 
62 percent, to 4.59 billion yen 
($47 million), in the six months 
ended Sept. 30. 

Faming s were less than the 
company’s initial estimate of 5 
biDion yen because construc- 
tion of a new plant cost more 
than expected. But the results 
were a marked contrast to the 
year ended in March, when 
profit dropped 36 percent be- 
cause of the strong yen. 

Casio said it believed the 
worst was over because sales 
were being boosted by new 
products such as small comput- 
ers for children. 

(Sirin also said it had been 
expanding production at fac- 
tories abroad, where the strong 
yen makes it cheaper for Japa- 
nese companies to manufac- 
ture. About 75 percent of its 
manufacturing is now done 
abroad, compared with 20 per- 
cent last year. 

Stales also improved in the 
half, rising S.l percent to 166.65 
billion yen. 

■ Yamaha Pretax Surges 

Yamaha Motor Co. said its 
pretax profit jumped 94 per- 
cent, to 3 biDion yea, in the six 
months ended in September. 
AFP-Extel reported. 

Y amaha, the world’s second- 
largest motorcycle maker, said 
sales for the period fell 0 3 per- 
cent, to 223 billion yen. 



Investor’s Asia 


HongKtiils 


•; Tokyo 

guaitsTiroes. ' 

A- 220#^' 







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?9d4 • 

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1994 ■: 


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234i. ie 


i; Tokyo .v,-'; 


"'tJMie&er- fs.30i.es -o M 

j . KucAtLomptir 

r:-i, 0B&74. ■: ■ 


.set 

■ 1,406.86- -CM* 

■ : Suoul.': 


■Tilpel \ : V 


£-^$3^78 Z 

Manna 

: .:FSEV ; 

«LSP--. 

ti,. _j_i, - 

■ UitKBfUg > 


, . 513-33 •..:•/ ' 

New Zealand 

[/Pk&Bdfat 2.Q42JB3" 

Bombay : 


'' : '1 v 932.72 ■ 4^95 


Very briefly: 


was granted most-favored-nation status by Canada, 
i doubled the quota of textiles it would allow shipped 


• Vietnam 

which also 

from the Asian country. 

• East Japan Railway Co.’s earnings dipped 2 percent, to 72J20 
billion yen ($731 million), in the six months to SepL 30 as more 
Japanese took advantage of the strong yen to travel abroad. 

• McDonnell Douglas Corp. plans to moye its Southeast Asian 
office from Singapore to Kuala Lumpur by year-end 

• The Hong Kong Monetary Authority raised the rate at which it 
lends short-term money to banks by three quarters of a percentage 
point, to 5.75 percent. 

•John Fairfax Holdings LtcL’s earnings jumped 65 percent, to 41.9 
million Australian dollars ($32 million) in the quarter to SepL 30, 
helped by an increase in advertising sales. 

• Japan’s industrial production declined 1.3 percent in September 
from August, the Minis try of International Trade and Industry 

Said Reuters, Bloomberg, AFP 


China Starts to Clear Up Backlog 
Of Plans for Power-Plant Ventures 


By Patrick E. Tyler 

New York Tima Service 

BEIJING — China’s approval this week of a 
$12 billion power plant in Guangdong Province 
not only showed its desire to clear up a backlog 
of pending power-generation projects but was 
the first venture involving foreign partners since 
December 1992. 

The partners in the deal which was signed 
Monday, include Entergy Corp., one of the larg- 
est American utility companies. 

“We had veiy little advance warning that Beij- 
ing was going to approve this thing,” Kenneth 
W7 Oberg, Entergy’s manag in g director in Asia, 
said Tuesday. 

Since 1992, when Prime Minister Li Peng 
began trying to set a cap of 12 percent to 15 
percent on profit that foreign investors could 
earn, international bankas, capital fund manag- 
ers and electrical power industry executives have 
tried to convince Chinese authorities that they 
could not manipulate the risk calculations that 
go into setting targets for return on infrastruc- 
ture projects. 

But the issue remained deadlocked until this 
week while Communist leaders debated it 

“They have tried to regulate risk, but the 


capital market is a very efficient mechanism that 
resists regulation," a Western diplomat here said, 
“so capital has been going elsewhere.” Rates of 
return on power projects sought by other Asian 
countries nave been around 18 percent to 22 
percent 

The president of the World Bank, Lewis Pres- 
ton, recently warned Chinese officials that they 
would drive away needed foreign capital if th«£ 
insisted on limiting rates of return. 

With Monday's signing in Guangdong, Chi- 
nese authorities seemed to have bowed to a 
mounting need for foreign investment to meet 
the country’s surging electrical demand. 

Around 50 power projects involving foreign 
investors have been stalled in negotiations with 
China, industry specialists said. 

“We have been getting indications that they 
have began to realize that we weren’t all blowing 
smoke on that issue,” Mr. Oberg said. 

Mr. Oberg and other power industry execu- 
tives said Tuesday that China was likely to ap- 
prove several other projects involving foreign 
investors before year-end. 

A spokesman for the Minis try of Power hinted 
that more contracts would be approved. But 
exactly which ones, he said, remained a “state 
secret." 


A National Westminster Bank 

(Incorporated in England wrtf? limited liability} 

U.S.S500, 000,000 Junior FRNs 
Notice is hereby given that the Rate of Interest has been Fixed 
at 6.5% and that the interest payable on the relevant Interest 
Payment Date May 17, 1995 against Coupon No. 22 in 
respect of U.S.$25,000 nominal of the Notes will be 
U.S.S817.01 and in respect of U.S.$5,000 nominal of the 
Notes will be U.S.Sl 63.40. 

November 77, 1994, London 

By: Citibank, N A (Issuer Services), London Branch, Agent Bank 


End of Year 


Call USA From*, 

Saudi Arabia $.94/min. 

South Africa $.94/min. 

Singapore $.94/min. 

Hong Kong $.49/min. 

China $1.30/min. 

India $.99/min. 

SAVE On All International Calls! 


VS. T®l 1-407-676-9500 Ext. 117 
VS. Fax 1-407-676-4909 


Service Rep. Lines 
open 24 hrs every day! 


HU 5 U Ml ■ IMnm.H. 32901 USA 


AGENTS WELCOME 
CORK PLANS AVAILABLE 


Wednesday 


STAGE/ENTERTAINMENT 

to opera to symphony concerts conducted by renowned artists. 
Along with book and movie reviews, this section provides infor- 
rnahon on current entertainment options all over the world. 

Every Wednesday in the International Herald Tribune. 








.s' 


I* . 

* 


Wharf Returns 
BBC Television 
To Hong Kong 

Compiled by Our Staff From Dispatches 

HONG KONG — Wharf 
(Holdings) Ltd’s Cable TV unit . 
has brought British Broadcast 
Corp. programming back to 
Hong Kong television, seven 
months after it was removed 
from the satellite network 
STAR-TV. 

The BBC channel was re- ’ 
moved from STAR-TV, which ‘ 
is majority-owned by Rupert 4 
Murdoch s media company 
News Corp., amid pressure dl , 
from Chinese authorities an- 
gered by the broadcast of a doc- ; 
umentaiy about Mao Zedong, 1 
China's former leader. ; 

Cable TV returned the BBC to • 
Hang Kong on Nov. 1. Wharf : 
Cables deputy chairman and i 
managing director, Stephen Ng, : 
says he does not expect any diffi- ' 
culties with China to result. 

Separately, STAR-TV said * 
Wednesday it planned to : 
launch seven 24-hour regional : 
satellite radio channels across : 
Asia - f Bloomberg AFP) j 



/ 











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INTERNATIONAL HkKALD TRIBI NE. THURSDAY. NOVEMBER 17 . 1991 




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d BBL invest UK. 


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d BBL (L) invesl Europe lf 

d BBL (L) invest World— LF 

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0 CS Netherlands Fd A FL 

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HUTZLER BROKERAGE 
<n Pegasus P P. Portfolio- 


326.94 
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C/Q Bank 01 Bermuda Tel : 109295 <000 
m Hedge Hog & Conserve FdJ5 *0 

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2 Bd Royal. L-3449 Luxembourg 

» Europe 5ud E Ear 8*27 

INVESCO INTL LTD, POB 271. Jersey 
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d Maximum income Fix'd t 

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mTn» Dauntless Fa Ltd _ .s i^S 

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0 international Cautious 5 1.013 

d International Balanced S 1JTS 

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ITALFORTUNE INTL FUNDS 
w Class A (Aggr. Growth I tol.TS 77*8500 

w Class B 1 Global Equitvl S 1213 

w Class CIGIobot Bondi s 10*5 

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JAROINE FLEMING . GPO Box 11448 Hg Ko 


0 J F ASEAN Trust. 

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m Key Asia Holdings. — 5 

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a Aston Dragon Part NV A — I 1030 

d Aston Dragon Port NV B — 5 1028 

d Globe I Advisors 1 1 NV A t 10X9 

0 Global Advisors H NV B — S 10X7 

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d Lehman Cur Adv A/B— ..A 728 

d Notwral Resources NV A — s 9J6 

d Natural Resources NV B — s 9.7o 

d Premier Futures Adv A/B-S 10X8 

LIPPO INVESTMENTS 
24/F UoooTovterCentre.8JQueenpnav.HK 
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w Java Fung S 9X1 

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w Aston Worroni Fund S 456 

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191 
9 0S 
1050 
8X0 
NU3 
9X0 
*67 


a &t strategic Bd Pd a 5h_ 5 


MARITIME MANAGEMENT LTD 
73 Front Si Homlltan Bermuda 1809)393 978? 

w Maritime Mlt- Sector I Lld-S 982X3 

w noontime Gtol Beta Serles-5 807.95 

wMorllinte GW Deilg Series* 774 91 

— . MATTHEWS INTER NATIONAL MGT 
35X2 EMERGING ASIAN STRATEGIES FUND 
80 mCJossA )I7S9 


w Alia Poe Growth Fa n v _S 

w A'j/on ropitai Holdings 5 

u Asian selection Fd N.V Fi 
n DP Amer. Grqwlh Fd N «•. 

w EM5 OftShore F0 N V Fl 

w Eurooo Growth Fimc N.V. -F| 
w Japan DivetsuiH Fund.— .* 
iv Leveraged Con Hold-..- — 5 
MERRILL LYNCH 

0 Dollar Assets Portfolio s 

a Prime Rote Portfolio S 

ME PRILL L I NCH SHORT-TERM 
WORLD INCOME PORTFOLIO 

0 Oess k 5 

0 Class B 5 

MERRILL LYNCH 

GLOBAL CURRENCY BOND 5ERIE5 
AUSTRALIAN DOLLAR PORTFOLIO 

0 Category A As 

0 Category B .AS 

CANADIAN DOLLAP PORTFOLIO 

0 Category A — rj 

0 CQiegor. 8.— _ ... ..C* 

CORPORATE HIGH INCOME PTFL 

a CiossA-1 ! 

0 CtossA -2 s 

0 Class B-l S 

0 Class B-2 » 

DEUTSCHE MARK PORTFOLIO 
0 Caicoonr * tjr/ 

d Category 6 Dm 

EUROPEAN BOND PORTFOLIO (DMi 

0 Class A-1 S 

0 Class A-7 * 


3 T *? 

?8i 

1550 

101.90 

*153 

4821 

60*6 

IIU) 

1#U 


8X8 

82B 


( 3 Pcrinom Htotr Inc. GNMA Fdi 

j Putnam mil Fund * 

QUANTUM GROUP OF FUND5 

w Asian Devetonment, 5 

■v Emeralng Growih Fa N V—5 

tr OuoiWum FunO N.V 5 

.1 Quantum industren S 

iv Quantum Rraity Trust— — S 
a uranium UN Realty Fund-t 

» Quasar Inti Fund N.V * 

IV Quo'* Fund N V.. 


d Clots B-l 

0 Class B-2- 


S 

. -4 


EUROPEAN BOND PORTFOLIO IUSS) 
0 Class 6-1 Dm 


0 Class A -X 

0 Class B-l 

0 CtenB 2. 


DM 

~% 


POUND STERLING PORTFOLIO 

0 Category A 1 

0 Cairuorv B 1 

US OOLLAP PORTFOLIO 
0 Category A 1 

0 Category B s 

YEN PORTFOLIO 
0 Category A. 
d Category B- 


17 61 
ITU 

14X5 

«JSX 

3*6 

9X6 

8*6 

*82 

13 )? 
1175 

IJ71 

'5J* 

1171 

tSX7 

*09 
10 IS 
909 
>006 

16JU 

IS** 

UD 

110! 

1286 

1250 

7216 

21X6 

*M 
* 48 


MULTI CURRENCY BOND PTFL 

0 Class A S 

0 Class B 5 

US FEDERAL SECURHIES PTFL 

0 Ctost A — i 

0 Class B J 

MERRILL LYNCH 
EQUITY / CONVERTIBLE SERIES 
BASIC VALUE POPTFOUQ 

0 Clan a 1 

0 Class B s 

CONVERTIBLE SECURITIES PTFL 

d Class A S 

d Class B 5 

GLOBAL ALLOCATION PTFL IUSS) 

d Class A S 

0 Clan B - s 

GLOBAL EQUITY PORTFOLIO 

0 Clasr A i 

0 Class & X 

GLOBAL SMALL CAP PORTFOLIO 

0 Class A 1 

0 CtonB 9 

EURO EQUITY PORTFOLIO 

0 CknsA 5 

tf Clots B i 

LATIN AMERICA PORTFOLIO 

0 Class A S 

0 Class B 5 

PACIFIC EQUITY PORTFOLIO 

0 Class a * 

0 Class B 4 

WORLD NATURAL RESOURCES PTFL 

0 Class A S 1175 

0 Clan B — X 11X3 


15 1* 
14 46 


11*5 

13a* 


10 79 

to I* 


tax* 

»aJ 


9.6) 

4.41 


144* 

1193 


17X7 

17.16 


«A4 

9X6 


DRAGON PORTFOLIO 
0 CI015 A. 

0 Class B . 


i486 

loxs 

MERRILL LYNCH EMERGING MARKETS 

across a s 1 ix* 

0 CtonB i 1167 

MERRILL LYNCH INC t PORTFOLIO 

0 Class A S 844 

d C >CSS B » 844 

0 C loss C 4 8 44 

MERRILL LYNCH MEXICAN INC PORT 

0 Me (Icon Inc 5 Pill Cl A 4 ?X4 

0 Me >lam IncSPrti Cl B S 9x4 

0 Me.lcan Inc PewPHI Cl Aj 387 

0 Me -icon Inc Peso Pill Cl Bx 882 

MOMENTUM ASSET MANAGEMENT 

mMa-nenlum Pombott FO S 114X2 

m Momentum P«R R.U 5 73X3 

m Momentum Stack master s 154.76 

MORVAL VDNWILLER ASSET MGT CO 

205.00 
17X7 
18.11 
15X6 
1143 
136* 
12174 00 
11X5 

12X7 

14 49 
856 
USe 
*00 
«*) 
128* 


w WlUrr Jopon. 

.» Wilier South Eosi 
w Wilier Telecom 


w Wlltertunds-Willcrband Cans 
w WHteriunds- Wilier bond Eui Ecu 
» Wiuerlunds Wilterea Eur— Ecu 
» Wllleriunds Wiltereq llolv-Lil 
w Wilier fitods-Wiltereq N A — S 
MULTIMANAGER N.V. 

m War 10 Bond Fund -Ecu 

m Europe or ' Equities Ecu 


m Japanese E cullies, 
m Emerg .no Marie's — 
mCash Enncnomreni — 
mAraitroae. — 


-_r 


mrterfge ..— 5 

NiCHOLAS-APPLEGATE CAPITAL MGT 
1 tlA str Oleg.; ;.PPOi ‘un.Iirs S 103*3 

wNAFIrnBle Growth Fa S I46JU 

n NA Hedge Fund 5 136X7 

NOMURA INTL. (HONG KONG) LTD 

B Nomura Jakarta Fund S 11 J3 

ODEY ASSET MANAGEMENT LTD 
21 Gras vcnai Sf.Ldn A I ' °FEAl-71-4** 7**6 


0 Ode« Europeqn- 




1)842 
1 27 JO 
133X3 
13392 
54.49 
546* 


wOoev Eurooeon 

ht Odes Eureo Growth iru: DM 

iv Oder Eureo Growih ACC — DM 
w Oder Euro Grin Siet me — 1 
n Oder Euro Grth 5ler Acc — i 
OLYMPIA CAPITAL INTI- INC 
Williams House. Hamilton HMH. Bermudo 
Tel . M* 2*2 1018 Fo» 809 2*5-2105 

1 * Finsbury Group 5 222JI 

wGfvmpto Securlte SF SF 161X7 

» Olvmpto Stars E merg Mkts i *75X6 

w winch Eastern Dragon S 17X7 

w YVInch Frontier 5 29I.» 

w SMI Ful. Olvrrroia Star — 5 >62X9 

w winch GJ Sec Inc PI I A) — S *03 

n Wav*. Gl Ser Mi PI I Cl S 9X9 

m winch Global Heatmcare_Ecu 1039.18 

v» winch. HIdo mri Madison _ Ecu ) 526.1* 

iv Winch Hldg inti Ser D Ecu 1746J5 

w winch. Hlete Infl Ser F Ecu 178547 

w Winch Hide OW Star Hedges *?l.l? 

w Wmch Resee.Mulh.Gv Bd_S 181)3 

w Wbtchesier Thailand * 32.70 

OPPENHEIMER A CO. INC FOS 
0 Arbitrage Intentoiionol — 5 TttSXB 

P Emerg MMl Inl'l II S 107/3 

b IM1 Horizon Fund II * **XI 

OPTIGEST LUXEMBOURG 
0 ophgesr Gtel Fd-Fired Ulc -DM (54JJ8 

b Opttgesi dbl FdOen Sub F JJM 17&778 

OPTIMA FUND MANAGEMENT 
73 Front St. Hamilton. Bermuda 80*2958658 


» Optimo Emwota Fd Ltd. 
tv Optima Fund- 


w Optima Futures Fu nd— ^-* 

w Optima Global Fond- _S 

tv Optima Perlajlo Fd Lid * 

w Oplima Short Fund S 

w The Platinum Fa Lid 4 

ORBITEX GROUP OF FUNDS 

a Or Oil ex Asm Pac Fo S 

0 Oroitev Com A Into Tech Fd* 

0 Ortxtex GRH Discovery Fd .S 

d OrtNWx Growth Fd S 

0 Ortltea Healin A Envir Fd J 
a Oroliee Japan Small Cop Fd* 
o Orttles Natural Res Fd — CS 
FACTUAL 

0 Elemifv Fund Lid 5 

0 infinity Fund Lid S 

tf Novastor Fund * 

d Star High Yield Fd Ltd * 

PASIBAS-GROUP 

Hr Luxor S 

0 PorveSi USA B * 

d Parvesl Japan B . 


0 Parvesl Ask) Pocii B — 

d Parvesl Europe B 

tf Porvesi Holland B 

d Porvesi France B 

0 Porvesi GermrtJV 8 

0 Porvesi ObH-DoUnr B_ 
0 Parvesl Omi-dm B 



0 Porvesi OfaiFYcn B. 
d Porvest Ob II- Gulden B. 

0 Porvesi Obit-Franc B_ 

0 Porvest Obli-Sler B. 

0 Porvesi OMi-Ecu B 
0 Porvest ObiFBelu* B 
0 Parvesl S-T Dollar B-. 
d Parvesl S-T Europe B 
0 Parvesl S-T DEM B_ 

0 Porvesi S-T FRF B FF 

0 Porvest S-r Bet Plus B BF 

0 Porvest Gtobal B LF 

0 Porvesi Hit Bond B * 

0 Porvesi Obii-Llra B 

0 Poruesl mi EouWes B. 

0 Porvest UK B 
0 Porvest (/SO Plus B 
d Po/vesJ S-T CHF B 

0 Porvest Ohil-Gonoda 
d Porvesi Oblt-DF. KB 
P ERMA L GROUP 

1 Emerging Mkts Hldgs. 



-Ear 


/ EuroMfr (Ecu) LW- 
I FX, Financials & future*—* 

/ Growth n.v s 

/ hnwsmenf Hldgs n v s 

f Medio A CommunicntlajB_j 

I Noscol Lkl —5 

PICTET A CiE - GROUP 
d Amerasec. 


wPX.F UKVOULU*) L 

w PX_F Germovrt lLu*l J3M 

w P.C.F Noramval I Lin I S 

wP.CF Vollber l Lint I Ptos 

w P C F VgUIcIIo (Lux I Lit 

w P.C.F Vallrante (Lux) FF 

wP.U.F. votbond SFH (Lun) SF 
w P.U.F. VotartW USD { Lin) X 
wPJJ.F. VtA bond Ecu (Lux) -Ecu 
W P.U.F. vajbon) frf (LuvJ.ff 
wP.U.F ValbgndGBP iLinU 
w P.U.F. VofeMd DEM I Luc) Dm 
w P.U.F. US S Bd Ptll (Lus) — S 

w P.U.F. Model Fd Ecu 

wPU.F. Plaife SF 

ir P.U T. Emerg m kh (Uni— J 
wPU.T Eur.Dpgorl (Ltnl—Eai 
ft P.U.T. Global Value (Lux) -Em 

w P.U.T Eurovol (Urol —ECU 

0 Pictet VMsuHse (CH) SF 

m mil Small Cap (IOM) 5 

PREMIER INVESTMENT FUNDS LTD 
c/o PA Bax 11M. Grand Cayman 
Ffik. I8W) 989HW3 

m Premier (iSEaulty Fund— 1 1113*4 

m Premier mil Eq Funfl S 136158 

in Premter Sovereign Bd Fd-S n?X? 

m Premier Gtobal Bd Fss 5 imu 

in Premter Total Return Fd —S 947 15 

PRIVATE ASSET MGT BAM FUND INC 
Guernsey;TeiieOM«) 72307 Fo«:7»« 
wPrtvo* Asset Mg) gam Fds 10063 
PUTNAM 

0 Emerging Him St Truy — i 37X6 

w Putnam Em. Inis. SC TrusIS 43X6 

d Putnam Glob High Growths 16.74 


1857 

17X6 

17/S 

14.17 
9/8 
7.13 

KL7* 

56755 

S.1739 

4.9*47 

7X2*5 

5.1980 

45869 

13X713 

403X337 

612.1530 

1)6X960 

161.1786 

SJ7 

2351 

540200 

72J8 

25.18 
12557 

121116 

2*3.78 

172*2 

374.17 
1670400 

319.43 
*72/8 
7*X6 
131J9 
860000 
12384 
134J* 
27* JO 
92*58 

sst.aO 

735*00 
21.79 
52553600 
108X9 
88*8 
9874 
^45 
18* JM 
*35.92 

*29.96 

156410 

9*3X8 

7793X3 

131809 

104566 

18696* 

5342 

65X9 

926) 

24X2 

9394X0 

1X777109 

1212x2 

28554 

229X0 

160.18 
*39.94 

95.71 

39X4 

99.276 

117.70 

481X9 

MS* 

Mt.H 

14330 
220 ft* 
62665 
493X5 


REGENT FUND MANAGEMENT LTD 

r> New Korea Growth Fd .J 
» Novo Lot Pacific toy Co -—5 
» Poc.i.e Arbitrage Co —~S 

m R L Counir. wml Fa * 

0 Pegent Glbi Am Grth Fd— S 
d Regent G'bl Euro Grtn Fd_s 
0 Regent GW in fl Grtn MS 
a Regent Gltu Joo Grm Fd — S 
0 Pegent gw Pool Basin— X 
0 Regent Gib' Reserve——* 
d Regen 1 Glbl Resources—* 

0 Regent Glbl Tiger 


7X0 

15X9 

104X2 

190.13 

170950* 

107X7 

13S.97 

108*3 

15446 

14131 


OuoUIkons supplied by funds hided, and trawtifttad by MCROPAL PARIS (TeL 32-1 40 28 0909). 

Not Mi*t vahit quotations are supplied by Die Fund* bud arith the Deception c l some quotes based Oh issue prices. 

The marginal symbols indicate frequency of quotations suapfiedi jd| - daifyi | s | - weeWy; (b) - himonthfr |f) lortnightty levory Iwa weeks); (r) - regulartyi (t) - twice weekly; (») - montMy. 

DJT INVESTMENT FFM 

d Ccncmiro * DM 

0 Inl'l Rcmcnionn y _DM 

DRESDNER INTL MGMT SERVICES 
La Touche HOCrJ? IFSC EKublln 1 
□SB Thornton loi Am Sei Fa 

d Cfinaulifodar Fund s 10X8 

DUBIN « SWIECA AS5ET MANAGEMENT 
Tel 180*1 «45 140# Far UQ9I 945 1488 
ft Highbridie Copifal Curp-_ ; 1230985 

mOveriKii Perlnrrraricc Fo j 202588 

mPaeilic RIMQo Fd S 105.10 E 

EBC FUND MANAGERS (Jersey! LTD 
1-3 Scale SI. SI Helter 0514-36371 
E9C TRADED CUPRENCr FUND LTD 
0 Capital 1 34X92 

0 income 6 IL29* 

■NTEPUATIClNCL INCOME FUND 

0 Long Term S 

0 Long Term ■ DMK — DM 

ERMITAGE LUX I3S34B73 30) 

•v Ermitoae inter Pate Stron-DM 

w Ermiiooe Sou Fund * 

« Er milage Avan Hedge Fd S 
w Ermilovc Euro Hedge Fd_DM 
w Er ml logo Crosby Asia F<j_S 
» Er milage Amer Hdg Fd 5 

i6 Ermitogc Emer mv is Fd_i 

EUROPA FUNDS LIMITED 

0 American Eqtnry Fund S 

0 Amer icon 0»i«t Fund a 

w Aslan Eauil, Fd 5 

ff Earopoon Equity Fa 1 

EVEREST CAPITAL (889) 292 2200 

m Everest Capital inn Ltd s 

FAIRFIELD GREENWICH GROUP 

ftiAdvofleed Strategies Ltd * 

m Chorus internaitonal LIO S 

«» FairlWIO mi l no j 

■» Fain ieid Senior Ltd s 

a Fairtldd Strategics Lid— X 
mlenirv Select Ud __* 


)X97 

5.1840 

1067 

yn*» 

6.1170 

OOta 

2X1*4 

2X697 

4/584 

21037 

26508 

3.18B4 

1.77® 

10X6 

124X917 

11X1 


1161 


0 Repent Gift) UK Grm Fd S 

w Recent Moanm Fd Ltd * 

m Regent Pacific Hdg Fd 5 

w Regent Sri Lanka Fd * 

d Undervgl Ass Talwon Ser 3 5 

n undervalued Assets Set 1 S 

0 Undervalued Proa fd 2—5 
C wnite Tiger mv Co Lid—* 

REPUBLIC FUNDS 

rt Republic GAN! S 13725 

w Republic gam America— S 114X3 

W Pro GAM Em Mkts Global .5 150.48 

It Reo GAM Em Mkls Lol Am* 12765 
iv RcOublic GAM Europe CHFSF H2JA 

» Republic GAM Europe U5SX 98.16 

w Republic GAM Grwtn CHF-5F 192X7 

w PepubiK GAM Growth C C 94/7 

W ReouDIK GAM Growth USSX 14566 
w Republic GAM Opportunity* 113/8 

W Republic GAM Podnc s 1*4.40 

h Beo Giafc Currency S 1D55.M 

n Pep Glob Fi<ed Inc— * 102179 

w RfPUDilC Gnsey Dal Inc S 10X8 

w Republic Gnsev Eur me —DM lexi 
w Republic Lot Am Alloc..,-. A 1 00.11 

•» NtPutme Let Am Argent. — S P4.J4 

n Republic Lb) Ant Brazil S 109X2 

«r Republic Lot Am Mexico — * 100X6 

w Republic Lot Am Venet — 1 77 x* 

* Reo Salomon Strategies — S 84X6 

ROBECD GROUP 

POB 971X00 A2 Rottor0onM3))tO 224)224 

d RG America Fima Fl 137/0 

0 PG Europe Fund.- Fl 124X9 

d RG Pacific Fartf Fl 14230 

d RG Dlvirerrte Fund — Fl 5360 

d RG Money Plus F Fl Fl 11661 

More Robeco see Amsterdam Stacks 
ROTHSCHILD (GROUP EDMOND DEI 
IN-HOUSE FUNDS 
w Asian Capital Holdings Fd _S 
w Danya LCF Rpttncttta Bd_* 

» Dorwo LCF Rotrtseh Eq— S 
or Force Cosh Trofttlton CHF -SF 
r» Lei com 


w Leveroged Cop “nfillngi .9 

» OblLVator SF 

w Pri Chetlengr Swiss F0 SF 

ft Prleoultv Fd- Europe Ecu 

ft Prleoirtlr Fd-Hatveha SF 

ft Prleoultv FO-Lotin Am.. — * 

ft Prlband Fund Ecu Ecu 

ft Pribond Fund USD S 

ft Pribond Fd HY Emer MklsX 

* Selective Invesl SA * 

O Source— 


«■ US Bond PUIS- 
■rvanapius- 


-ECu 


ROTHSCHILD (GROUP EDMOND DE) 
OTHER FUNDS 
0 Asia/ Japan Emero. Growths 

w Ewll Eur Portn inv Tst Ecu 

w Eurap Strafe* invedm fd —Ecu 
ft integral Futures S 


6130 

I0D36* 

1D36X7 

10521X2 

2641X6 

6096 

931X3 

1QS6J9 

11840* 

104396 

144.968 

115X17 

I87J3B 

HEX© 

364.940 

14X2680 

*3.781 

1027X8 


0 PocHic Nles Fund- 

1 Setectian Horljon_ 
ft Victalrr Anon* . 


-FF 


17X5540 
1339X4 
105X30 
92ft) I 
9X9 
8I932XD 

5)05/6 

ROTHSCHILD ASSET MGMT (CJ) LTD 

mNemred Leveraged Hid S 85152 

SAFDIE GROUP/KEY ADVISORS LTD 
m kev Diversified Inc Fd Ud_$ 11X1192 

ft Tower Fund Global Bend _S 99MJQ 

ft Tower Fund Global Equity J 9*8X11 

SANTANDER NEW WORLD INV. 

m Com rounder Fund * 107/52 

mE caterer Fund S 121X18 

SC FUNDAMENTAL VALUE BVt LTO 
Tol 599 * 322000 Fan 9*9 9 322031 

m NAV S 132*51 

SKANDiNAVISKA ENSKILDA BANKEN 
S-E-BANFEN FUND 
0 Eurono Inc - a 


0 F far ran Osfern Inc- 

d GtoLol Inc 

0 lolamedel me. - 

0 Vorlden Inc — 

0 Japon Inc 

d Milio rnc. 


d Sverige Inc— . 
0 Nordamerlko Inc. 
d Teknolagi Inc- 


Jtk 


d Sverige Ranletand Inc— 
SIXkNDIFONDS 
0 Euuiry tnn Acc 
0 Equity mil Inc. 
d Eouttv GtoDol 
0 EouHy Nat. «tes«rrces- 
0 Hourly Japan. 


0 Eoullv Nordic - 
0 Equiiv U K.. 


d Equity Continental Europe -1 

tf EquiTv Mediterranean s 

0 Equity Norm America * 

0 Equity For East — — 5 

0 inn Emerging Markets 5 

0 Bend mil Act. 



0 Bond 'nil Inc — 

d Bond Europe Acc — 

0 Bond Europe Inc. 

0 Bond Sweden Acc 
0 Bond Sweden Inc 
0 Bond DEM Acc 
0 Bond DEM «nc 
0 Bond Dollar 
d Band Dollar US Inc 
d Curr. US Dollar 
d Curr. Swedish Kronor . 

0 Sweden Flexible Bd Acc— Sek 

0 Sweden Fletlbte Bd Inc Sek 

SOCIETE GENERALE GROUP 

0 Asia Fund V 

0 BTWCat A * 

0 BTW Cal B A 

w SGFam Strut FdDIv. 
wSGFAMStroi FoFto 
SOGELUX FUND (SF 
w SF Bands A USA. 
nr SF Bonds B Germany 
w SF Bonds C France— . 
w SF Bonds E G.6. 

w SF Bonds F Jooan Y 

w SF Bonds G Euraec — Ecu 

w SF Bonds H World Wide S 

w SF Bonds 1 Italy Lit 

w SF Bonds J Belgium BF 

w SF Ea K North America — S 
w SF Ea. I W.Eorope Ecu 



w SF Ea. M PoclHc Basin. — — V 
u> SF Eq. P Grawtn CoonlrtesX 

w SF Ea Q Gold Mines * 

w SF Ea R World wide S 

w SF Short Term S Franco — F F 

w SF Short Term T Eur Ecu 

SOD IT I C ASSET MANAGEMENT INC 
wSAMBrarlt- 


0*9 

1X2 

0.99 

0J2 

IX* 

112) 

0.90 

IDA* 

0.97 

1.1) 

10X6 

I6.«8 

1X61 

152 

U3 

*3J5 

1X1 

155 

1X9 

8.97 

2X4 

*.19 

1/4 

1X47 

7/2 

IM 

1X2 

16A5 

10.45 

1X7 

ft*4 

138 

ljta 

158 

1X74 

1DX5 

1005 

52984X0 

1*A3 

4X13 

557.72 

9X0 

ISM 

3)50 

125.98 

11X0 

2357 

17/5 

1836 

30149 J» 

818X0 

1739 

1558 

I486 

1832 

JLXJ 

15/1 

I7JLH71 
16X5 


nr SAM Diversified 

Hr 5AM/MCGarr Hedge . 

» SAM OnaortuMhr 

w SAM Orocto . 

w SAM Strategy 

m Alpha SAM . 


w GSAM Composite * 

5R GLOBAL BOND FUND INC 
m Class A Distributor— — S 
m Class A Accumulator - -1 

SR GLOBAL FUND LTD 
mSR European — — S 

mSR Aston . — ■ ■ . * 


mSR Ifrtermrtonol 

5VENSKA HANDELS BANKEN SXL 
146 Bd He to Petrusse, L-23J0 Luxemboura 


385X2 

urns 
121 jt 

13067 

111.94 

11111 

134X5 

33251 

KBX1 

10071 

97/7 

10556 

10X17 


ft SHB Band Fund- 


it Svenska Set. Fd Amer Sh— S 
nr Svenska Sel. Fd Germany— S 
w Svensko Se). Fd infl Bd Sh_J 

w Svenska SeL Fd ran Sh s 

w Svenska Set Fd Japan Y 

w Svenska Sel. Fd MIH-Mki —Sek 

nr Svenska Sel. Fd Nordic SEK 

w Svenska Sel. Fd PocM Sh — S 
w Svenska Set. Fd Swed Bcta-Sek 
SWISS BANK CORP. 

0 SBC 100 1 into Fund SF 

0 SBC Equity Pit l- Austro I to— AS 
0 SBC Equtty Pm-conodo — CS 
0 SBC Equity PNFEuronO-— Ecu 
0 SBC Eq PI fl -Netherlands — Fl 

d SBC Govt Bd B 5 S 

0 SBC Bond Ptfl-Auslr S A A* 

0 SBC Band PHFAustr S B — AS 

0 SBC Bond PifKanX A CS 

d SBC Bond PttVCanX B CJ 

0 SBC Bond Ptfi-OM A DM 

d SBC BondPNFDMB —DM 

0 SBC Bond Pin-Dutch G. A-FI 
0 SBC Band PHI-Dutch 6. B-FI 

0 SBC Bond Ptfi-Ecii A Ecu 

0 SBC Bond Pttt-Ecu B Ecu 

0 SBC Bond PfIFFF A FF 

0 SBC Bond PlfrFF B FF 

d SBC Bond m-Ptas A/B — PR S 
0 SBC Bond Ptfl- Slert tag A — t 
0 SBC Band Ptfl-Sterltag B — £ 

0 SBC Bond Portfoilo-SF A — SF 
0 SBC Bond PortMtoGF B — SF 

0 SBC Bond PttHISJ A J 

0 SBC Bond PtIHJSS B S 

0 SBC Bond PtB-Yen A Y 

0 SBC Bond Pm- Yen B Y 

0 SBC MMF - AS AS 

_BF 


0 SBC MMF-BFR- 
0 SBC MMF - Can5_ 


0 SBC DM Short-Term A. 
d SBC DM Short-Term B- 
0 SBC MMF- Dutch G — 

d SBC MMF - Ecu— 

0 SBC MMF • E*C 

0 SBC MMF - FF 

0 SBC MMF U7 

d SBC MMF - Ptos— 
0 SBC MMF - Schilling — 
0 SBC MMF - Sterling — 
0 SBC MMF - SF. 


-CS 


-DM 

-DM 

-Fl 


-FF 

-Ut 


0 SBC MMF - US - Donor— 

0 SBC MMF - USs/lt 

d SBC MMF - Yen. 


0 SBC GIW-PHI SF Grth SF 

0 SBC GIM-PtH Ecu Grth— Ecu 
0 SBC GtbFPm USD Grtn — 1 

0 SBC Glbl-PtM SFYW A SF 

0 SBC GIM-PIH SF Yld B SF 

d SBC GM-Ptll Ecu YW A Ecu 

0 SBC Gttrf-Pin Ea YW8— Ea 
rf SBC GlbFPin USD Y« A — & 
d SBC Glbl PH! USD YU B — s 

J 5BC GIW-PMl SF tnc A SF 

0 SBC Glbl-Pttl SF Inc B SF 

O SBC GU-Pttl Ea Inc A Ea 

0 SBC GIM-PIH Ea Inc B— Ecu 
0 SBC GIM-Pm USD Inc A_5 
0 SBC GIM-Ptfl USD Inc B— I 
0 SBC GtCt Pffi-DM Growth— DM 

0 SBC GW PM I- DM Yld B DM 

0 SBC Glbl P!ft-OM Int B— PM 
0 SBC GIM-PM1 DM Bol A/B-DM 
0 SBC GW-Ptfi Ecu Bal A/B.Ecu 
0 SBC GRtt-Ptll SFR Bal A/B.5F 
0 5BC GIOFPtll USS Bal A/B J 
d SBC Emerging Markets — * 

0 5BCSmofl&MWCftP*Sw-SF 

d SBC Not. Resource US*- S 

0 SBC Dvn Floor CHF 95 SF 

0 SBC Dim Floor USD 95 S 

0 A met ico Yo far .. — ... 5 

0 AnatoVakH — — r 

0 AslpPorttollo * 


56.70 
15.15 
10X0 
12X3 
5*33 
368 
11X68 
10234 
8.15 
141X41 

171060 
197 JM 
2)6X0 
19JJM 
395X0 
102X73 
9458 
1)597 
10X15 
>77.14 
15658 
199 JO 
15754 
178/4 

128/6 
5)626 
640/9 
93SLW 
50 JS 
59X5 
1069X8 
138X39 
97X8 
109X6 
1O4UBX0 
114770X0 
4418X9 
115226X0 
481633 

I Wrtl 
136195 
7533X4 
3869 JB 
479734X0 

SSfWTJXO 

377491X0 

3270528 

790054 

60)420 

737257 

273MI 

607997X0 

1137X1 

1251 XI 

118537 
1044X3 
1177X7 
1139 JO 
131537 
1818.99 
1185X? 
1117X73 
10915* 
105955 
1144X8 
9SU7 
1B34JI 

MOM 5 
102736 
1028.19 
1003X8 
100424 
*9835 
180652 
118X96 
505X0 
476.99 
1005X0 
9*6X0 
W.W 
317/3 
74154 


0 Convert Bona Selection 5F 

0 D-Mark Bend Select ion DM 

0 Dolku Bond Setaci tan * 

0 Ea Band Selection Ecu 

a Florin Bond Setectton — — Fl 

0 Fnmcevaier Ff 

0 German to vo tor J7M 

d Gold Pen folio S 

0 iberlaVolor Pio 


0 Jenonttartfolio Y 

a Sterling Bond Selection. L 

0 Sw. Foreign Bond SMerttan-SF 

d SwlssVgior SF 

d universal Bond Seleclton SF 

d Universal Fund- 


100 46 
11SJ8 
136.16 
IP W' 
1328 
193956 
SltsS 
379 J4 
563*7X0 
4J0U8JV 
2337200 
11153 
11027 
53650 
7S50 
772/5 
11743X0 


0 Yen Bond Selection ... V 

TEMPLETON GLOBAL STRATEGY SICAV 


a Global Growth Cl A. 
d Global Grawtn Cl B. 
d Dm Global Growth- 


-DM 


0 Smaller Companies Cl A. 

0 Smou«< Companies Cl B. 

a 1 ni roar & Common leal ton _S 

0 Pan-American Ci A__— S 
0 Pan-American Ct B— — S 

0 Eu ropean a p 

0 Far East. 


d China Galrwov 

0 Emerging Markets Cl A. 
0 Emerging Market* Cl B- 
0 Gtobal utilities. 


0 Gtoool Convertible. 
a Guam Balanced - 


d Global 1 name Cl A. 
a Global Income Cl B_ 

0 DM Global Bond. 

0 ven Gtobal Band Y 

o Emerg MkH Flu Inc Cl A S 

0 Emerg Mkfe Fl* Inc Cl B * 

.4 US Government s 

0 Haven— 5F 

0 USS Mould Reserve —5 

0 DEM Liquid Reserve DM 

TEMPLETON W.WIDE INVESTMENTS 

GROWTH PORTFOLIO 

0 Class A-l * 1353 

0 Class a-2 S 17/8 

0 CtaSiA-3 * 15.13 

0 Class B-l S 1277 

d Class G2 s w IJ 


13/9 

10.19 

1X92 

7228 

9.79 

*26 

17X8 

1053 

11X6 

J4XP 

956 

17/3 

1053 

9.97 

10.10 

5JL79 

11/5 

10X4 

1022 

964.19 

1155 

9.97 

951 

10X5 

10X7 

10X4 


INCOME PORTFOLIO 

eCleuA. 

0 Class e.. 


THORNTON INVESTMENT MGMT LTD 
31 Queen SU-Undan EC4R 1AK 071 M6 3060 


956 
9 JO 


0 PacH lmrt FO SA ! 

0 PocM Invl Fd SA DM DM 

0 Eastern Crvsadfer Fund * 

0 Thor. Util Dragons Fd Lld-S 
0 Thornton Orient Inc Fd LtdS 

0 Thornton Tiger Fd Ltd S 

0 Managed Selection — S 

w Jakarta * 

0 Korea s 

HEW TIGER SEL. FUND 

0 Hone Kong. — * 

0 Jonah. s 


0 Philippines— 
0 Thailand — 
0 Malaysia 


0 USS Liquidity. 
0 China. 


0 — s 

THORNTON TAIWAN FUND 

0 Equity Income — — * 

0 Equity Growih— — * 

0 Liquidity S 

UEBER5EEBANK Zurich 
0 B ■ F"«vr 

0 E - Fund 

0 J -Fund 

0 M- Fund. 


_SF 


0 UBZ Euro-lncome Fund- 
0 UBZ world income Fund . 
0 UBZ Gold Fund. 


-SF 

-SF 

-Ecu 


0 UBZ Nippon Convert 5F 

0 Asta Growth Convert SFR _SF 

d Asia Growth Convert c/SS — S 

d UBZ DM -Bond Fund DM 

0 UBZ D- Fund DM 

0 UBZ Swiss Equity Fund SF 

0 UBZ American Eq Fund— 5 

0 UBZs- Bond Fund S 

0 UBZ Southeast Askt Id * 

m UBZ Diversified Strides A J 
mUBZ Diversified Strgles B -S 
UNION BANCAIRE ASSET MGT (UBAM3 
INTERNATIONAL. NASSAU 
W Ardet Invest S 

»liml«Ml 4 


13X5 
3X93 
>17? 
41/1 
2754 
S7.12 
•n m 
14/0 
18X7 

52X1 
16/3 
955 
83/0 
24.96 
242 7 
8.14 
7057 
1629 
2622 

1560 

17.78 

10XD 

1199/9 

61653 

360X7 

128552 

1DJ4 

5130 

124/6 

112957 

1168.90 

It382l 

100/7 

102.70 

11057 

9138 

9126 

10)24 

1011X6 

1013X5 


m Bacofln. 
m Bee* Invest - 


w Bruclnvesi . 
w Dlnfuiures- 
wDbw 


■DtaBIWL 


wOtavesl Gold & Metals 
wDInvcsl India. 


ir Din vest Inti Flu Inc Slral . 

w Job invest 

w Altonslnvest 

wMoninvnt. 
ir Aitourinvest. 


wMourinvcsl Coming ted. 

w AAourbwest Ecu.. 

w Ptttsar. 


-Ecu 


wPvharDvertv- 

w Quonhnvesf 

wOuredlnvesl99- 


r Slelninvesl . 


wTudftives!. 


w Urs Invest. 


UNION BANCAIRE ASSET MGT (UBAM) 
INTERNATIONAL. LUXEMBOURG 
vUBAMS Band * 


2MSX21 
991.93 c 
1089/* C 
1278*2 1 
1186291 
1022X94 
248*56 1 
107558 z 
96fti0z 
91818 z 
854.99 z 
196895 z 
8*459 2 
1297X1 2 
3540X91 
92828 z 
161S56 z 
181867 z 
168X78 z 
2328*81 
1319.18 c 
277167 z 
1090.79 z 
621X4 z 


W UBAM DEM Bond DM 

w UBAM Emerging Growth -I 

w UBAM FRF Band. —FF 

vr UBAM Germany —DM 


w UBAM Gtobal Bond. 
wUBAMJOPan- 


-Ecu 

-Y 


t UBAM Starling Bond— 
w UBAM Slh Pacil & Asm 

w UBAM US Equities 

UNION BANK OF SWITZER LAND/ 1 NT RAG 


117239 1 
1121211 
986X7 z 
5493.98 z 
105*54 z 
1445X4 z 
8707X0 Z 
9/4/4 
21897 z 
1139.7) 2 


0 Am co. 
d ttand- invest. 
0 Brit- invesl _ 
0 COhoc. 


-SF 


-SF 


-SF 


d Convert- Imres) . 
0 D-Mark- 1 nveS- 
0 Dollar. Invest. 


.-SF 

—DM 


0 E nergie-l fives! - 

0 Esooc 

0 Eur II. 


0 Fonso. 


-SF 


-SF 


-SF 


0 Frzmcit 


-SF 



0 GokMmres! 

0 Guldrn-lnvesl 
0 Helveiinvesi 
0 Hollaid- Invest. 













tc 

Swtesrtd 

SF 


d UBS America Latino. 

0 UBS America Laima * 

0 UBS Asia New Horizon SF 

0 UBS Asia New Horizon * 

0 UBS Small C Europe SF 

0 UBS Small C. Europe. DM 

0 UBS Port Inv SFR Inc SF 

0 UBS Port Inv SFR CopG — SF 

0 UBS Port in* Ecu inc SF 

0 UBS Port inv Eev Inc Ecu 

0 UBS Port Inv Ecu Co«> G — SF 
0 UBS Pori Inv Ecu Cop G— Ecu 

0 UBS Port Inv US* Inc. S 

d UBS Port inv USS Inc SF 

0 UBS Port Inv US* Cap G — SF 
a ubs Port inv us: Cop g — s 

d UBS Part rav DM Inc SF 

0 UBS Port inv Dm inc DM 

0 UBS Pori Inv DM Cop G — SF 
0 UBS Part Inv DM CaoG — dm 

0 UBS Port Inv Lit inc SF 

d UBS Port inv L|| inc Lit 

0 UBS Port Inv Ut Cop G — SF 

0 UBS Port Inv Ut Cop G Ul 

0 UBS Port Inv FF Inc SF 

a UBS Port inv FF Inc — FF 

0 UBS Port Inv FF Cop G SF 

0 UBS Port inv FF Cop G — J=F 
0 Yen- Invesl Y 


0 UBS mm invest -USS_ 
0 UBS MM iRVOSt-C SI — 
0 UBS MMInvesl-Ecu- 


-t 

-Ecu 


0 UBS MM Invest- Yen Y 

0 UBS MM invest-l.it Llr 

0 UBSMMIrwwt-SFR SF 

0 UBS MM Jnvesl-FF FF 

0 UBS MM InveS-HFL — Fl 

0 UBS MM Invesi-Can S— CS 

0 UBS MM )nves»-BFR BF 

0 UBS Short Term Inv-DM — DM 

0 UBS Bond Inv-Ecu — Ecu 

0 UBS Bond inv-SF R -SF 

d UBS Band Inv-DM DM 

0 UBS Bond Inv -US* —S 

0 UBS Bond Inv-FF FF 


0 UBS Band Inw-Can S- 
0 UBS Band inv-Llt- 


-CS 


-Lll 


0 UBS B-l-USSEktro Yield — S 
d UBS Fh Term Inv-BFR 96—SF 
0 UBS FlM Term lnv-DM 96— DM 
0 UBS Fix Term inv-Ecu 96_Eai 
0 UBS Fi* Term inv-FF »^_ff 

0 UBS Ea invEurape A DM 

0 UBS Ea tnv-Ewope T DM 

0 UBS Ea Inv-S Cap USA S 

0 UBS Port I Fix Inc (SFR)-SF 
0 UBS Port 1 Fix Inc (DM) —DM 
0 UBS Port 1 FIX Inc I Ecu) —Ecu 
0 UBS Port I Fix Inc <USSJ_5 
0 UBS Parti Fix Inc (Ut) — Ul 
0 UBS Port 1 Fix me (FF) — FF 
0 UBS Cs> lnv-90/10 USS _ — i 
0 UBS Cop lnv-90/10 Germ — DM 
WORLOFOLIO MUTUAL FUNDS 

0 S Doliv income-- 5 

d DM Dotty Income —PM 

d S Bond Inaxrte. 

0 Non •$ Bonds- 
d Global Bonds—— 

0 Global Balanced. 

0 Gtobal Equities- 


d US Conservative Equities _* 

0 US Aoressiv* Equities S 

0 Eurep™ Equities S 

0 Poci tic Equities .* 

0 Natural Resources. 


mPF uaoAstaGrwih * 

mPF 14 CIP Emerg MU Des-i 


Other Funds 

w Actiemsaance Sieov_ 
wAdiflnonceStcav — 

wAdltutum Lid .. 
w Ad Sfcor — 

w Activesl fnfl Start— 
w Adelaide, 
ir AdrtoWe- 


-FF 

-9 


m Advanced Lotai Fd Ltd. 
m Advanced Padllc Steal 
nr AIG Toiwun Fund 


-FF 

-I 


w Alexandra GM lnv«l Fd 15 

mAnno Investment S 

w Aouita international Fund -J 
wAiWfln invesimenl * 


5F 

-SF 


nr Argus Fund Balanced. 

w Argus Fund Bond- 

d Ada Oceania Fund — 

ir ASS iGtobell AG urn 

m Associated investors Inc. -5 

w Athena Fund Ltd * 

w ATO Nfkkrt Fund * 

wBonrof Hedged Growth FdJS 

w Beckman int Gm Acc. s 

w 8EM in te rne flcnci Lid S 

0 BAuljeiTMorvol EEF - ——Ecu 
mBIcanor Global Fd A Sh — S 
m Btecmor Global Fd B Sh — * 
m Btacmor Globo! Fd CoymanS 

n Brae Inter nattorol FF 

0 CCI.I ■ — * 

meal Euru Leverage Ffl LIO.S 
mcopltol Asoured tadio Fd_S 


4350 y 
55.90 y 
U3J0v 
7750 > 
124X0 Y 
19360v 
104 55 v 
11250* 
>61.08 y 
34850 V 
30150 y 
199X0 y 
25150v 
10850 v 
22950V 
251 78 v 
102/0 v 
339X0 v 
146X0 v 
23*50 y 
461X0 V 
236X0 v 
26250 v 
192.48 v 
19800 V 
2J7J0 
19400 
>16.10 v 
8931 y 

101.10 v 
77.77 * 
9130 Y 
110.90 V 
1 04 64) y 
10460 V 
9A5Sv 
6036V 
99.7fly 
6223 y 
76/9 y 
96X5v 
97.50 V 
75.15 v 
9450 y 
11250 y 

9550 y 

1 any 
97X5 v 
119227X0V 
9550y 
116851X0 V 
9*/5v 
406/0V 
9925 V 
4O5J0 v 
B5111X8 v 
182150 
412X3 
530/8 
107*76X0 
107967840 
5911.17 
5289/2 
104877 
1045X1 
27266X0 
56744 
153X6 
100/4 y 
103J2 y 
9559v 
105552 V 

103.10 V 
113957100 V 

9336 v 
107.12* 
110X1 V 
18834 V 
IDftWy 
22877 V 
234.96 V 
1JOX2 » 
9736 y 
tOOTOv 
10158 V 
I0B.TT V 
161552X0 v 
40159y 
10535 v 
123.45 V 

1X0 

1X0 

17X1 

7U5 

2151 

1148 

l*.l* 

14X2 

1420 

1Q.9B 

1154 

SJ4 


68) SI 
813X8 
863/8 
48628 
2855 
1008.19 
1*1.74 

95.74 

96.13 
114.965 

10i» 

915927 

53033 

979/) 

11*427 

103637 

14.75 
661 IS 
89115 

912015 

72094 

502520 

1.18 

11/5 

nrx3 

292.13 
93104 
24629 

677/72 

49.77 

71663J* 

088 


0 CB German inde* Fund — DM 
vCcittro) & Eastern EiPdPe 
Fd -? F 

m Century FimKCS — -* 

mCervIn Growth Fimd- J 

ni Chilton Inft (BVI I Lid ~* 

w China Vision 


w Citadel Llmtied 
d CM USA 


-SF 


wCM) Jnvcs'mBit Fima— — 5 
mCML Strategic Bd Ffl Lta-— » 
mCJUL Strategic inv Fd Ltd— s 

mColumbua Holding* * 

m Concorde Inv Fund— -* 

wConthm*! ActlwatalL- BF 

w Co nitvesi OWI MwCT — 

iv Conttvesl ObU Wwto— D** 

n Convert. Fd Inf A Certs — 5 
w Convert- Fd Inti B Orta— J 
m Craig Drill Co9l— . .. . •* 

or CRM B.T P. FdLW-- SF 

mCRM Fuiun& Fvfio Ltd — -J 
» CRM Global Fd Ltd — * 
w Crosby Assel Mgmt Ltd — S 

w Cumber Inll N.V. — , — * 

ur Curr. Concert 2 000. — j 

d Dl Witter Wld Wide I vt Tsf Jl 

»v£>.G.C., “* 

0 Do two Jaoan Fund ■■ -J 

0 DB Argentina Bd Fd— — — * 
d DBSC / Nafln Band Fund— S 

• Derivative Asset aiioc s 

w Deeecw One ud * 

0 DreyfusAmertcoFund— * 
f DVT Performance Fd—* 
mDvmsty Fund — — » 

iv Egs Overseas fund Ltd — * 

ffl Elite Worttf Fund Lid 5F 

mEmeniB CooUol - * , 

0 Emi Beta Ind. Thus A BF 

d Eml Beig. tad. Phis a 

0 Eml Franc* ind. Plus A— FF 
fl End Franc* Ind. Phis B — FF 

0 Eml Germ. Ind. Plus A DM 

0 Eiih Germ. Ind. Plus B DM 

0 Eml Neth. Index Plus A Fl 

0 Eml Netn. index Phis B Fl 

0 Eml Spain ind. Plus A Pta 

0 Eml Spain Ind. Plus B — Pta 

0 Eml UK Indm Plus A E 

0 Eml UK Index Plus B — I 

tr Esrir. sto inv. Sth Eur Fd— S 

0 Europe 1992 S 

0 Europe Otohocitlors Ecu 

w FM.P. PortWIo S 

mFotum Fund. 


m Firebird Oversees Eld . 
w First Eagle Fund— 
•r First ecu Ltd- 


m First Frardler Fund, 
w FL Trust Asia. 


w FL Trust Switzerland, 
a FondltaHa- 


w Fonlu* I Money. 

w Fanlux 1 • inll Blind. 

w Fanmuitttan 18 Inti 

0 Fortitude Group ine- 


rt! Future Generation Lid — S 

m FXC investment* Ltd S 

m GJ. M 1 Mutte-Siratogy S 

m GEM Generation Ecu Cl Ecu 

mGEM Genera ban Ltd— S 

m Gem Ini Cays Lto S 

m Gems Progressive Fd Lid— S 
w General Fund l hi .... . S 

m German Sel. Asodotcs DM 

mGlano Cm! lol Fd DM 


ir Global 90 Fund L» s 

w Global 94 Fund LM SF. 
w Gtobal Arbitrage LM— 
m Global Band Fund. 


nr Gtobal Futures Mat Ltd. 
wGamwd- 


0 GreenLlne France — FF 

m Guaranteed Capital Imm 94 LF 
m Guaranteed Commodity FdS 
in Guaranteed Currency Fd— S 

/ Haussmann Hiogs n.v S 

m Hemisphere Neutral ScpSOX 

w Hesllo Fund S 

ft Htatibrfflga Capital Corp — s 

w ibex Holdings Ltd sf 

ft ILA-IGB * 

ft I LA- IGF S 

ft ILA-INL. 


w indigo Currency Ffl Ltd. 
r inrt Securffle5 Fund- 


-Ecu 


winter Mgt Mitt Fd-Mlxte DM 

0 Ini refund SA « 

0 inti Network invt. J 

•0 Investa DWS DM 

w Japan 8 Greater Aslan 
Prose Fd_ 


w Japan Padflc Fund 

m Japan selection Asses- 
w Kaunor Gtd. Series I— 
w Kenmor Guoranleed — 
ffl K ingate Global Ffl Ud- 
wKMGiobal- 


0 KML - <( High Yield- 


w Korea Growth Trust s 

w La FaveHe HoMtngs Lid — S 
ft La Fayette Regular Growths 

m lo Jolla mi Grth Fd Ltd s 

wLeot Sicav 4 

nr Leu Per Inm w nce Fd ) 

iv LF Internal tonol.. 


m London Portfolio Services— S 

ffl LPS Infl HJ>.B J 

rnLur infl Mgt Fd Ud -S 

Luxhjnd- 


_SF 


m Lynn Sel. hbIiBwo» 
w M.Kingdon Ottsbare. N.V.— S 
m Master Cop & Hedge Fd — * 
vr Matterhorn onshore Fd— * 

w MBE Japan Fima LF 

m McGinnis Gtobal l Oct 31) — S 

mMCM int. Limited * 

ir Millennium In te rnational— S 

fflMJM internaitonal Ltd 8 

d ML PrlnciP Pratec Plus — S 

m Momentum Guild Ltd — * 

w Momentum Novel Her Pert-S 
wMonatovolSfoav SF 


ffl Mont Blanc Hedge, 
nr Multifutures. 


.S 

-FF 


in Pawtpes Ottshore (Oct 31 1 S 
in Paragon Fund Limited ■ * 

m Parallax Fund Lid S 

fflPeqtof Inrt Fund — * 

mPermol Uodvhe Ltd — S 

w Pharmo/wtteolth. 


w Phnigestion Pluriforex FF 

w Plurlaeslian Plurtvoteur — FF 

ivPhirlvesl Sicav Ff 

mPonibov Overseas Ltd 5 

in Portuguese Smaller Ca .» 
m Portuguese Smaller Co a C» 
mPrt mo Coaltol Fund Ltd — * 
fflPnmeo Fund — — 4 


0 Proflrenl SA- 


w Pyramid Inv Fdi 
0 Regol Inll Fund Lid. 


- DM 


m RahCam Invesimenl N.v. 

1 Rk inovest Fond b 

w RM Futures Fimd Sicav— 

w Sailor's Inti Eauitv 

w Sailor's Inll Fixed - 


-Ecu 


0 Sanyo KJe. 5«dn Fd 

0 Sate*. reek Holding N.V. . 
• Saturn Fund. 


ffl Savoy Fund Ltd——* 

0 SCI / Tech. SA Luxembourg* 
m Selects Global Hedge Fd — S 
0 Seiedlve Ful. PHI Ltd S 

w Sinclair Multifund Ltd * 

iv Sintra Fund LM J 

wSJO Gtobal [609)921-6595 S 

d Smith Barney Wridwd Sec J 
0 Smith Barney WrMwd Specs 
w SP Inform! Mitol SA A 5h — 3 
m SP Inlernalianot SABSh—S 

m Sblrt 1 Hedge Hid- S 

m Spirit Neutral Hid— * 

w Stemiwnfl Cseos Fd Ltd — s 
wSfemtardt Realtv Trust —S 
m Steal Healthcare inv Fd — S 

m Strider Fund — — 1 

fflSltome OttaharB Ltd. > 

0 Sunset Gtobal liiLti 
0 Sumel Gtobal One. 
m Sussex McGfflr. 
w Techno Growth Fund - 
0 Tem ptoton Gtobal Inc— X 

m The Bridge Fixtd N.V I 

m The Geo-Global Offshore— 5 

0 The instil Multi Advisors S 

m The J Fund B.V.I. Lid 1 

w The Jaguar Fund N.V i 

d The M-A-R-S Fd Sicav A— J 

d The m-a*r*s Fa sicav l Dm 

d The Magus Ecu Fd LM. 

0 The Magus US s Fd I 
ffl The Seychelles Fd Lto — X 

ffl The Smart Bona LM SF 

m The Smart Bond Ud S 

w Theme M-M Futures S 

m Tiger 5efec Hold NV Bid — S 
ft TIIC (OTC) Job. Fd Sfcnv^l 
O Tokyo (OTC) Fund Sicav _S 
w Trans Global Invt Ltd ..1 
d Transpacific Fund—— Y 

w Trinity Futures Fd Ltd S 

fflTrhimz* l_ 


mTrlumoh IV_ _ 
0 Turquoise Fund. 


w Tweedy Brown Inll SFR—SF 
m Tweedy Browne inl’l n.v. — 8 
V Tweedy Browne n.v. Cl a_i 

6 ObaFutum FF 

0 UbaFutures Donor. 


f Ultima Growth Fd Lid 1 

d Umbrella Debt Fund Lid— X 
0 Umbrella Fima Ltd——* 

iv Uni Bond Fund- — .Ecu 

w Uni Cart to) Aitemogne -DM 

w Uni Cart to# Convertibles — Ecu 
w Uni-GBI FS Svstemanaue~SF 
w UnhGIU Sic FS Mb 3 txts_5F 

w um-Gfctaol Sicav DEM DM 

iv UnFGtabal Sicav Ecu Ecu 

w UnHxIoftOf State FRF FF 

w Uni-Global Sicav FS SF 

w U Id Global Sicav USD S 

0 Unko Eautev Fund 

d Units Inv. Fund 
w Ursus inti LM_ 
mValbofme. 


.DM 


m Zephyr Hedge Funa. 

n zbinlo (1994) Lid 

ntZweta Infl Ltd 


146.99 

3816 

90720 

10333*1 

1042 

142X3 

242X5 
1065X8 
I01.T8 
99.77 
212*0 
1165*6 
9155.00 
10657X0 
4078 
19X5 
74X5 
138X8 
801 J9 
829X4 
1000X0 

507.12 
106X6 
28X0 
30721 
5958 
9264.73 
10584.97 
. 1009X7 
007.93 
7T/I 
lHLS 
1/4 
I50SM 
8877X1 
IOOHOO 

1O57/0Q 
1128800 
990X2 
914/4 
101.47 
iown 
61801 
*9198 
1 154800 
1204000 
130X4 

142X6 

7.18 

1895 

16125 

0X731 

1230.90 

14889 

60547.43 

29X7 

66.18 

173/1 

131X4 

8456 

95120 

935.11 

984X0 

9U0 

867X1 

954/7 

684.43 

894.15 
887.M 

5361.18 
1504/5 
79138 
1746/4 
100800 
1229 
2/32 
144473 
92X8 
1262/5 
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INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 




• SPONSORED SECTION 



Celebrating the Explorer Who Defined Discovery 

This year marks the 600th birth anniversary of Henry the Navigator, whose feats gave new meaning to the term “ discovery . 


Prince Henry launched the Age of Discoveries, which transformed our vision of the maid. 

Lisbon: Cultural Capital 


J. his year, Lisbon is the “Cultural 
Capital of Europe.” The restoration of 
historic buildings, a vital part of the 
preparations, included the total over- 
haul of the 3,500-seai Coliseu (Colise- 
um), a theatrical landmark that had be- 
come a somewhat shabby showhouse 
for circuses and rock concerts. Many of 
the 1994 cultural events - operas, sym- 
phony concerts and theater presenta- 
tions - have been staged there. Lis- 
bon's museums were also given face- 
lifts. 

Several major events are planned 
before the program closes on Dec. 17. 
An exhibition by 600 young Mediter- 
ranean artists opens November 15th. 
Choreographer Anne Teresa de Kers- 
maeker will present Ballet Rosas in the 
Belem Cultural Center on Dec. 9-11. 
An English Royal Opera House pro- 
duction of Rossini’s “William Tell" 


will be presented at the Sao Carlos 
Opera house on the Dec. 11,15 and 22. 
The world premier of Wim Wender's 
latest film, “A Lisbon Story." commis- 
sioned by the Lisbon Cultural Capital 
organizers, will be held on Dec. 16, and 
the program will close with a concert 
by the London Philharmonic Orchestra 
on Dec. 17. 

This year-long cultural marathon has 
been a preview'of an even more ambi- 
tious event. Expo 98. which will be 
held from June 10 to September 1998. 
The exhibition, the last major world ex- 
hibition in this century, will commem- 
orate the Age of Discoveries, during 
which Vasco da Gama discovered the 
sea route around Africa to India 500 
years ago. Tne theme of the exhibition 
will be “The Oceans.” and the focus 
will be on the environment. 

Martha de la Cal 


.f he returned today, would Prince 
Henry the Navigator recognize the 
traces of his pioneering spirit in such 
modem milestones of mankind as 
space exploration? The question is per- 
tinent to his subsequent influence. In 
mid-1415, King Joao I’s son Henry 
launched an enterprise that earned him 
the epithet “the navigator” - or more 
correctly, “pioneer and discoverer.” 
Henry could hardly have foreseen that 
the echo of his odyssey would roll 
down the centuries with such impact on 
Portugal and the rest of the Western 
world. Some historians say that his 
feats inspired the whole gamut of new 
perceptions and curiosity embodied in 
the term “discovery,” and that this 
idea’s ongoing permeation is perhaps 
Henry's most significant and enduring 
legacy. 

What made Henry tick? 

By some accounts and from today's 
perspective, however, the driving force 
behind these achievements was rela- 
tively mundane. According to the his- 
torian C.R. Boxer, Henry (together 
with the royalty, noblemen and mer- 
chants backing him) was motivated by 
a crusading zeal against Muslims, a de- 
sire for Guinean gold, the quest for 




You're looking 
J. { : at Henry the 


t?TT j r j 7 Jj| Navigator. 

But don ’ t be 

footed by appearances. This 
year is the young Prince 's 
600 th birthday. 

As you 'd expect from 
someone of this great age 
he has one or two 
experiences to relate. He 
founded theSagres School 
bygathering^ailorSr . _ 
cartographers and 

astronomers and taught 

the world how to navigate. 
He organised die first '- . 
maritime Parofean ’ 
expeditiohs tt) Africa and 
populated many territories. 
Amt he inspired Ike. 
Portuguese Vasco da Gama 
to plot’ d nautical route to 
India* Pedro Ahtares- . 
Cabral tb reach Brasil 
■ and Femao de Magathdes 
to make the first'. 
circumnavigation 
of the world. 

Not surprisingly, 
the influence if bur most 
famous senior- 
citizen, is noticeable in 
Many countries. 

From Japan , where 
Portuguese words farm 
part of the language, to the 
United States where the 
stabae of Cabrilho stands 
as dimemento of his arrival 
in CaKfornuti la South-; _ 
Africa, udiere - ...... ■_ — " 

a momaneht was 
raised to constpemorate^, 
the rounding 
of Cape of Good Hope. 

If Portugal had such a rote 
in-linking together, so many 
cul tu r es ; -the credit 
goes to such men as Henry 
the Navigator. 

Lisbon 


The thrill oj discovery. Portugal 




ICEP/niwlimcK/w, ( omen in r Tunsnto ih- PorlirjaL Av. Co- 


1000 U530A ■ PORTUGAL 


3S1 -T.--.3rvo se io - f^t 


! -'352 58 08. Contact our loca 


Prester John and the search for Oriental 
spices. Henry was able to pursue these 
objectives largely because throughout 
the 15th century, Portugal was a strong 
and united kingdom, virtually free of 
the civil strife and convulsions seen in 
other West European nations. It was 
reasonably prosperous and independent 
of covetous Castile, and it had been 
completely free of Moorish domination 
for almost 1 00 years. 

Imperial road of no return 
The Portuguese expansion that now got 
under way first focused on North 
Africa. On Aug. 21. 1415, Ceuta fell to 
the armies of Joao I. The kingdom was 
launched, in the words of the historian 
James Duffy, on an imperial road from 
which there was no voluntary return: 
“The hope for profit, the conquest of 
souls, the cutting off of Castile were 
now identified with Portugal's national 
spirit.” 

Religion was a significant ingredient 
of the venture. Henry’s voyages were 
endorsed by the popes of tne day. and 
legitimacy came through their papal 
bulls. The “Romanus Pontifex," for in- 
stance, which Mr. Boxer terms the 
charter of Portuguese imperialism, was 
remarkable. The document lauds 


Prince Henry’s “apostolic zeal as a true 
soldier of Christ and defender of the 
faith,” and praises him for worshiping 
“the glorious name of Christ even in 
the remotest and hitherto undiscovered 
regions” and for compelling ‘The Sara- 
cens and other unbelievers to enter the 
fold of the church.” 

It authorized him to “subdue and 
covert pagans (even if untainted by 
Muslim influence), who may be en- 
countered in the regions lying between 
Morocco and the Indies." It formally 
prohibited all other nations from in- 
fringing or interfering in any way with 
the Portuguese monopoly of discovery, 
conquest and commerce. 

A broad brief 

These benefits were further extended 
by Pope Calixtus III, whose “Inter 
caetera” bull of March 13, 1456 con- 
ceded to the Order of Christ (of which 
Prince Henry was administrator and 
governor) the “spiritual jurisdiction of 
all regions conquered by the Por- 
tuguese now or in the future from Cape 
Bojador and Nun by way of Guinea 
and beyond, southwards to the Indies." 

With such a broad brief, it was no 
wonder Henry felt entirely at ease in 
pursuing his vast task. It would be 


wrong, however, to portray the man as 
just a virtuous benefactor. Various his- 
torians. among them Peter Russell and 
Clive Willis, have firmly knocked from 
its pedestal the romantic image of a 
“chivalrous, crusading Henry nobly 
questing down the Guinea Coast, smit- 
ing the infidel, converting the pagan 
and vanquishing the ocean sea.” Per- 
sonal. class and court interests clearly 
underiay all his operations. 

The wanderlust lingers 
He indelibly inspired the seafaring Por- 
tuguese, whose wanderlust continues 
unabated. Perhaps its most dramatic 
modem manifestation is seen in mas- 
sive emigration throughout the early 
20th century. Today, as much as one- 
third of the current population lives 
abroad, and one in three families has 
relatives somewhere elso in the world. 

Traces of artistic and architectural in- 
fluences as well as other cultural ef- 
fects abound to the present day. The 
empire itself, while initially bounteous, 
had become a major economic, politi- 
cal and social drain by the time it was 
finally dismantled with the 1974 revof 
lution. It was the last of the West Euro- 
pean empires to go. 

KenPottinger 


Economy Today: Building on a Legacy 

A look at Portugal's current economic revival and the increasingly important role of information technology. 


JL he Age of Discoveries and the im- 
perial trading monopolies it spawned 
brought enormous wealth to Portugal 
on the eve of the Renaissance. Riches 
were further boosted by the discovery 
of Brazil, six years after the 1494 
Treaty of Tordesillas divided up New 
World rights between Portugal and 
Castile. 

The legacy of the nation’s golden 
days is widely reflected in the faded 
splendor of palaces, castles and other 
architectural heritage still seen today. 
Early power and wealth came from the 
trade in gold, slaves, ivory, spices and 
later coffee. In financing the Discover- 
ies, Prince Henry the Navigator stirred 
controversy by tapping a wide range of 
commercial monopolies, tuna-fishing 
rights, dye and sugar imports, and con- 
trol of the soap industry. 

The vast wealth Portugal accumulat- 
ed over this period was slowly dissipat- 
ed by subsequent events: rising expedi- 
tion costs, declining European spice 
prices, incursions by rival imperial na- 
tions. power shifts, civil strife and po- 
litical instability. 

Into the 20th century 
Portugal's current economic revival is 
a comparatively recent phenomenon. 
For most of the 20th century, its in- 
ward-looking economy had subsisted 
on a virtually closed colonial circuit. 

Its 1986 entry to the European Union 
brought major transformation. Basic 
infrastructure, investment and general 
business boomed on the back of mas- 
sive EU cash inputs and foreign invest- 
ment. These advances have radically 
altered perceptions, opportunities and 
attitudes. 

Under the EU impact, many of Por- 
tugal’s traditional business areas have 
experienced problems in adjusting. The 
nation, however, does have one of the 
largest installed personal-computer 
bases in the EU, operated by a genera- 
tion of digitally sharp youth. Channel- 
ing this capital into productive infor- 
mation-technology business could 
leapfrog the country to the leading 
edge of emergent technological 
change. 

Economic indicators 
Meanwhile, as the crucial general elec- 
tion in 1995 approaches, present eco- 
nomic policies are attracting sharp fo- 
cus. The government has revised its 
1993 indicators downward, and these 
now reflect a deeper recession than 
first admitted, with recovery in 1994 
set to be slower than forecast. 

According to a mid-year Central 
Planning Department report, the econ- 
omy shrank 1 percent in 1993; domes- 
tic gross domestic product per capita 
was 64.5 percent of the EU average, up 


from 52.1 percent in 1986. GDP 
growth for 1995 is expected to be 2.5 
percent to 3.5 percent - an improve- 
ment on the 1.1 percent forecast for the 
end of 1994. 

Domestic inflation is set to be less 
than 25 points higher than the ELI av- 
erage by the end of this year, and the 
1995 average annual inflation forecast 
is 3.5 percent to 4 5 percent. 

Antdnio de Sousa, governor of the 
Bank of Portugal, says Portugal is on 
course to meet EU monetary-union 
convergence targets for inflation, pub- 


iic-sector deficit and public debt by 
l°97. The unemployment rate, once 
cue of the lowest in the EU, is begin- 
ning to pose a problem. The Bank of 
Portugal estimates that by the end of 
H°4. the jobless level may be as high 
u:-: S percent. 

Despite next year's election, the 
1995 budget tabled in mid-October 
sticks closely to EU-imposed restraints 
and sustains the tough fiscal and mone- 
tary approach that his marked econom- 
ic poliev over the past three vears. 

KJP. 



OF THE 


When tbe caravel was brought into By simplifying this somewhat 
sqrvke for foe Discovery voyages, its teric instrument and 
jfabty to beat , to windward cm the ameter to make it roore aSjrat^junk 
homewara journeys freed the na viga- der shipboard conditions, 

tuguese turned the astrofafefot&'il;? 
practical navigational toot- 
opened the way to .nearlv.E^'S^^ 
of scientific 


tunes 


. tors to slake the. -long reach cut into 
fhfeAilanttc. - 

' '.This maneuver was crucial to the 

: success; of'- the' Discoveries, but i t ~ w rvtsj 

ships .were sometimes process that literally 
out; on the high seas for. months, far of the world. Solar 

from gmding landmarks. A simple j- 

yet acci — - -■ ' ’ 

poskipB 


»ES 1 


Theasti^ . 

. Eariy in foe tSthednsury, Portuguese 
, -navigators conceived the idea of us- 
..ipgan .awrient instrument called the 
astrolabe to determine their latitude 
■.at .sea. With this knowledge,, they 
'.could use their compass course and 
■ estimate. of distance sailed to.fix their 
apptriimate position. 

The astrolabfe was a.small flat, cal- 
.'forated metal wheel with a revolving 
arm pivoted- on its hub. Holding the 
instrument perpendicular on a cord, 
the uset sighted' the sun or a star 
through two pinholes in plates at ei- 


coasial pilot, was de> 
oceanic guide. 

Mapmakrs benefit ... „ , . , . 
The new ability .to 
accurately enabled 
produce more precise 


In 1504, the Portuguese 'fag-toi 
pher Pedro Reinel producedfoefl 
known nautical chart with 


m — — — — ■ ■ » .■* • vTyt||i(V 

instrument perpendicular on a cord, first world foap WiSv 

2SL25?; w 3 star ■ bearings and latitude obset?v^^^l 

coastlines. : 


ther end of the arm and read off the 
angle.- from foe horizon on a graduat- 
ed scale around the rim. Ptolemy hitd 
used foe astrolabe to determine lati- 
tude tin tend in the 2nd centurv, and 
the Arabs used an elaborate version 
of it for astronomical calculations, 
but no one had used it at sea. 


Within _ 

fo° Age of Discoveries, 

60jXK> Kilometers (37,000. raife&tif. 
coastline around the world, aiuZ 
tuguese cartographers hid opened .1 
the age of scientific -mapmakar ■ •' * 


‘Henry the N \vk; \t< jr" 

■na/vnfew/fe to mtfmv hr ,l„ ~ 

... Internal huuil Hcmltl Trthwif ~ 

Wwiths: Martha Jc to Cal. Peer tW/„ and hen Poningerare hosed in Lisbo, 

director: Bill MahJer 


i£fl\ 


i 








1^0 


EVTERJNATIOIVAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 



r‘ . 

J 

E /V , 

ft 1 

V 1 11 



SPONSORED SECTION 


Searching for Traces of the Navigators’ Portugal 


;rPT ^ ^ er ^ n " nos Monastery in Lisbon to Henry's birthplace in Oporto, 

r.. jig* Jer ^™ mo5 Monastery, the finest 

“““Pte of Manueline architecture in 
Portugal, was constructed between 
1502 ** 1517 on a* site from which 
^ Cfflried oTS H? 5 Vasco da Gama set sail for India. Its 

Kins Manuel T Thi*^ ^f ao Royal Pantheon contains the tomb of 

,* M ?J uet L ™ explorer Bar- King Manuel L 

S&E. 1 ??? JSS"^ * e sou * em *iP fo the monastery lie the tombs of 


a modern-day guide to the Portugal of Prince Henry. 


nf Africa in xT ,7, U P m ^ monastery lie the tombs of 

^ffiiSi1ov^X^ CO A^ Gat !l a Vasco da Gama and of Camoes, Portu- 
Albucmeraup wnS later. Afonso de gal’s greatest poet, who immortalized 
Albuquerque wrested control of the In- the Discoveries 


dianOces 

Muslims. 


and the spice trade from the 


the Discoveries. 

The Belem Tower, another fine ex 


Seaweed and other motifs 
During that era, Lisbon became a world 
trade center. Gold, precious stones 
silks, tea and spices were sold in shops 
along the river. Sumptuous palaces, 
monasteries and churches covered in 
gold were built 

The Manueline style of architecture 
evolved, with gothic structures covered 
with motifs evoking the Discoveries: 
seaweed, shells, ropes and other sea- 
related designs. 

Little remains of that period. At 9 
AJvl. on AH Saints Day m 1755, Lis- 
bon was razed to the ground by one of 
the worst earthquakes in history. Al- 
most the only buildings left standing 
were the Jerdnimos Monastery and the 
Belem Tower. 


ample of Manueline architecture, was 

built between 1515 and 1530 tn nmtf>rr 


built between 1515 and 1520 to protect 
Lisbon from pirates. Up the hill above 
the river stands the St. Jerdnimo 
chapel, a sober little structure where the 
explorers went to pray before their voy- 
ages. 


Amiga. They portray King Afonso and 
his queen surrounded by all of the im- 
portant figures of the time, including 
Prince Henry in a black hat. The fa- 
mous Japanese Namban screens in die 
same museum depict the arrival of the 
Portuguese in Japan in 1543. 

At Saint George's castle, parts of the 
building in which the king received 
Vasco da Gama upon his return from 
India sdll stand. The Vasco da Gama 
room in the Museu MiHtar contains ob- 
jects from the Age of Discoveries, and 
the Naval Museum in Belem displays 
models of old Portuguese boats, maps 
and paintings. 

One of the oldest and most interest- 


ing pieces is the wooden figure of the 
Archangel Raphael from Paulo da 


Slenthiiigin Lisbon 
A diligent search is required to find 
other traces of the Age of Discoveries 
in Lisbon. 

The Madre de Deus church, con- 
structed in 1509, has been restored to 
its former glory, and the Casa dos Bi- 
cos, built in 1507 and home to the pow- 
erful Albuquerque family, has also 
been rebuilt 

The Sao Vicente panels, painted in 
1460 by Nuno Gon^ves to glorify the 
Discoveries, are in the Museu de Arte 


Archangel Raphael from Paulo da 
Gama's boat which burned on the re- 
turn voyage from India. It was in the 
possession of Vasco da Gama until his 
death. 


Henry’s hometown 
Tn the city of Oporto, where Prince 
Henry was bom and in whose cathedral 
he was baptized, there are magnificent 
palaces and churches built ai the time 
when Portugal was rich from trade with 
the Far East. The Casa do Infante 
makes a dubious claim to being his 
birthplace. 


A Tough Little Boat C atted the Caravel 





From 1441 until Bar- 
tolomeu Dias doubled 
the Cape of Good Hope 
in 1488 , the most im- 
portant element in the 
Discoveries - besides 


ploration rather than trade, it needed 
to be fast, with a draft shallow 
enough for exploring inlets and rivers 
yet deep enough to provide room for 


die skin, toughness and 
enterprise of the mariners - was a lit- 
tle boat called the caravel. Without it, 
the whole enterprise would probably 
have failed. 


supplies. Most important, it needed a 
sail plan that would enable it to beat 


sail plan that would enable it to beat 
to wmdward efficiently. 


Hard to go home 

If the outbound voyages were fraught 
with unknown dangers, returning 
home was technically more difficult. 
The prevailing northerly winds off 
Africa’s norm west coast favored 
southbound sailing and made Gfe dif- 
ficult for ships going the other way. 

The earliest boats that Rince Henry 
sent out to probe the African coast 
were small, square-rigged vessels of 
the type, the Portuguese called 
“barmeis" Like all similarly rigged 
boats of that era, they needed the 
wind behind them, either dead aft or 
nearly so, to make the best progress. 
When the wind blew from ahead, 
they were forced to lay-to or to make 
long tacks, or traverses, zigzagging 
almost at right angles to it to make 
any forward progress. 

A different type of boat was clearly 
called for. Because its object was ex- 


Masteringthe contrary winds 
The answer was die caravel. The ear- 
liest versions, which Prince Henry 
brought into use in 1441, were two- 
masted boats a little over 20 meters 
(65 feet) long with crews of about 20 
men. 

They had no superstructure on the 
prow, but a raised quarter deck 
formed a low stem castle. The two 
sails were lateen-shaped: triangular 
and set cm long spars attached to the 
masts diagonally. They were more 
difficult to handle than square sails 
but were far more efficient in con- 
trary winds. With the caravel, the 
mariners could go as far down the 
coast as they wished without any 
fears about getting back. 


thought to be like the caravel when 
the first explorations began. Diogo de 
Si Ives had discovered the Azores in 
1427, seven years before Gil Eanes 
struggled around Cape Bojador for 
the first time in his square rigger, and 
naval historians figure he must have 
used a lateen-rigged caravel-type 
boat to make the long reach westward 
to the islands. 


The mystery remains 
Nobody is sure exactly what the car- 
avel looked like in the first place. For 
such a widely used ship, curiously lit- 
tle is known of its design. The precise 
shape of its hull, practical details of 
its rigging and how the masts were 
hung remain mysteries. The few con- 
temporary pictorial representations 


are unhelpful. The only real clues are 
in a handful of inconclusive refer- 


The long reach westward 
The caravel was not an invention of 
Prince Henry’s. The lateen sail was in 
common use on small Portuguese 
fishing boats in the 15th century, and 
merchants on Portugal’s Algarve 
coast were already using a ship 


in a handful of inconclusive refer- 
ences in early treatises on shipbuild- 
ing. The builders themselves left no 
records. 

One of the thousands that lie on sea 
beds around the world may one day 
be salvaged and die questions settled, 
but archaeologists are not optimistic. 
Salvaging is an expensive business, 
and the caravels were not treasure 
ships. Historical knowledge has not 
proved to be inducement enough to 
rescue them from the deep. 

P.C. 


Regarding a Prince Called Henry 

Who was Henry ? The man who launched the Age cf Discoveries left a legacy of contradictory impressions. 
XT 


V iews and opinions on Prince Henry 
the Navigator are as varied as the histo- 
rians recording them. 

He was bom in Oporto in 1394, the 
third son -of Portugal’s Jo3o de Avis 
and England’s Fhilipa of Lancaster. In- 
formation on his youth is scanty. Per- 
il 5o Lopes, a Portuguese researcher, 
paints a picture of family harmony at 
the court, where the children were 
brought up according to the principles 
of respect for their parents and fear of 
God. 


for posterity. The historian PE. Russell 
says die prince, an obsessed fighter of 
die Moors and lord of uncharted seas, 
spent considerable time while alive en- 
suring that his tomb - in the royal 


chapel at Batalha monastery - would 
be “adeauatelv worshiped after his 


land Algarve palace of Raposeira. In 
the end, his balance sheet was not en- 
tirely pious. Apart from his laudable 
achievements, he also left a heavy lega- 
cy of debt, including annuities due to 
his staff and household. 


be “adequately worshiped after his 
death for his achievements and reputa- 
tion.” 


Henry’s concern for such details was 
probable limited In his day. “a taste for 
conspicuous spending was regarded as 
aii essential outward sign of a truly no- 
ble and chivalrous spirit,” according to 
Mr. Russell. KJP. 


A legacy of heavy debt 

Henry (Bed on Nov. 30, 1460 at his in- 


A life of chastity . . - . 

So me chroniclers say that he had a foul 
temper, enjoyed beef stew, declined 
wine and died a virgin. He was also 
said to have left a considerable amount 
of debt. 

TBs biographer Gomes Eanes de Zu- 

rara, however, describes him as a man 
of “talented perspicacity, a fortress of 
strength, who never yielded to me plea- 
sure of flesh or avarice, spending tas 
whole life in pure chastity and laid to 
rest a virgin.” The prince was not only 
exceptionally devout but also theologi- 
cally quite knowledgeable, and hesaw 
himself primarily as a militant Christ- 
ian crusader. 


Feeding the Explorers: 
FRom Spices to Dried Fesh 


The Portuguese explorers brought 
spice into the lives of the Portuguese 
and the rest of the Europeans in the 
15th century - saffron, ginger and 
nutmeg from Malabar in India and 
from the east coast of Africa;.dnna- 
mon from Ceylon and Java; cloves 
from the Moluccas; sesame from In- 


dia; and pepper from Bengal, 
Malacca, Sumatra and Java. They 
brought cashew nuts from India and 
the east coast of Africa and betel 
nuts from Arabia. They also brought 
pineapples, papaya, passion fruit 
and other fruits from the distant 
lands they visited. 

Europeans had never seen any of 
these until the explorers brought 
them back from their voyages. The 
Portuguese, the first people in Eu- 
rope to savor these luxuries, soon set 
up a brisk trade selling them, along 
with gold, silks and jewels, to 
Northern Europe. Portugal became 
the richest nation in Europe at the 


Venture capital for discoveries 
The undisputed inspirer of the?geof 
maritime adventure, Heitry him^I 
made only four short voyages ot dis- 
covery. During his life, he wasap[»m|- 
ed Duke of Viseu. governor trf We Ai 
garve, master of the Older of Ourst 

Sight of the Garter. The wc^rrf 

the older was liquid enoughtOCT^ie 
Henry, in his rote as patron of the voy 
ages of discovery, to use !t 
capital for his discoveries, according 

10 1? a" M^eivard witten in M^ch 

i Arif. He*nrv aeed 42, declared that 

SbSiSftaas 

not expect to have one, he would 
the Infante 

and heir, Henry’s godson and nephew, 
the Infante Dom Fernando was bom in 

I4 Henrv’s celibacy, like the hair shirt 
he^wa? said to always wear, 

SuThe was alive an essenf ^ 

Henrican hagiography. The P* i : 

however, appeared to be jnore con 
cemed with the image he would lea e 


time. 

The Portuguese soon adopted 
these new and exotic spices and 
fruits for their own tables. A cook- 
book written in 1560 by Dona 
Maria, daughter of Prince Duarte, 
the 1 0th son of King Manuel X -the 
king most noted for sponsoring fee 
Discoveries - makes liberal use of 
the new spices. A recipe for meat 
patties in the cookbook calls for 
cloves, saffron, pepper and ginger. 
All these spices are still commonly 


used in Portuguese cooking, espe- 
cially pepper and cinnamon. 

At the P astelazia de Belem, a fa- 
mous coffee shop in the Belem dis- 
trict, the specialty is a little custard 
tart liberally sprinkled with cinna- 
mon. The custard tarts were invent- 
ed by the monks at the nearby Jerdn- 
imos Monastery, constructed in the 
early 16th Century on the site from 
which Vasco da Gama sailed down 
the coast of Africa on his historic 
voyage to India. It is said that the 
spice trade paid for the construction 
of the monastery. 

Restaurate urs agree that the Dis- 
coveries marked Portuguese cook- 
ing. “The Discoveries had great in- 
fluence,” says Dina Marques, owner 
of the prestigious Conventual 
restaurant in Lisbon. ‘It was only af- 
ter 1500 that we had spices, and they 
are still used.” The Conventual 
serves many dishes that were stan- 
dard fare in old convents. The state 
inns also organize banquets with 
menus from past centuries. 

The most lasting effect the Dis- 
coveries had on Portuguese cooking 
was without doubt the popularity of 
dried, salted codfish, used by sailors 
on the ships. Portuguese today claim 
they know 1,000 ways to prepare 
codfish. Codfish dishes are served at 
country fairs. New Year’s parties, 
small bistros and the most elegant 
restaurants in the big cities. 

M.C 


The memory of Prince Henry is still 
strong in the Algarve, especially at La- 
gos, where he built his caravels and in- 
stalled his personal court in what is 
now the governor’s palace, and at 
Sagres, where according to legend he 
had his school for navigators. 

There are remains of a fort, inside of 
which is the famous rosa dos ventos 
(wind compass} made up of lines of 
stones set in 32 directions of the com- 
pass. 


From Goa to Oman 
While sailing for Prince Henry, the ex- 
plorers discovered the islands of 
Madeira and the Azores: Madeira in 
1420 by Gonzalo Zarco and the Azores 
a few years later. 

The islands were colonized by the 
Portuguese. Many buildings from that 
period still stand. 

Most of the padroes (stone pillars 
topped by crosses and the Portuguese 


arms) set up by the explorers all along 
the coast of Africa have been removed 
to museums, but the forts they built still 
stand. 

As far away as Goa and Cochim in 
India and in Macao and Oman, Por- 
tuguese churches and forts remain as 
monuments to the Discoveries. 

M.C. 


Cultural 

Calender 



CL, the next months and well into 
next year, visitors to Portugal will be 
treated to a feast of musical, artistic and 
other cultural events.The program of 
events celebrating the 600th anniver- 
sary of Henry the Navigator’s birth is 
decentralized, focusing on many other 

S aits of the country with historical 
nks to Prince Henry. These include 
Oporto. Lisbon. Tomar (site of the 
Convent of the Older of Christ), Batal- 
ha, Viseu, Covilha Vila do Bispo and 
Lagos. (From Lagos. Henry conducted 
crusades against Morocco and some of 
his caravels set sail; a slave market lat- 
er developed there.) 

Events on the theme of the birth an- 
niversary of Henry the Navigator in- 
clude the following: 

Throughout 1994. “Henrican Ar- 


chaeological and Historical Footsteps,” 
Convent of Christ, Tomar. 

Nov. 25. Pal&io da Bolsa Chamber 
Music Festival, 6th Conceit, organized 
by the Oporto Commerce Association 
at the Stock Exchange Palace. 

Dec. 2-16. Opening of a photograph- 
ic exhibition od Macao (the Portuguese 
enclave in China) by Ricardo Fonseca 
at the Praga Gallery. 

Jan. 1 to March 31, 1995. Itinerant 
exhibition: “Portugal in the Opening of 
the World” at the Batalha Monastery, 
Batalha. 

Jan. 26-AprO 26, 1995. “Mannerist 
Painting in Portugal,” King Luis 
Gallery, Ajuda Palace, Lisbon. 

February 1995. Santa Casa da Mis- 
ericordia, Oporto. Opening of exhibi- 
tion “Church Charities Treasuries," or- 


ganized by the Oporto Santa Casa da 
Misericdrdia. 

March 1995. Giant puzzle at the 
Oporto Bessa Stadium. 

March 1-June 1, 1995. “Major Por- 
tuguese Aeronautical Voyages,” Air 
Museum, Lisbon. 

March 4, 1995. Formal closing cere- 
mony at the Batalha monastery, Batal- 
ha. 

July 1995. Opening of exhibition 
“Portuguese Artillery at the Time of 
the Discoveries,” Lisbon Military Mu- 
seum. . 

Dates to be announced. “New Dis- 
coveries - The Portuguese Economy at 
the Turn of the Century,” a cycle of 
conferences organized by the Oporto 
Commerce Association. 

KJ>. 


m 


HENRY THE NAVIGATOR 


1 1 is hard to hit upon the exact truth when 
recalling Henry the Navigator. By reading 
the chronicles and other accounts 
witnessing the 15th and 16th centuries, we 
gather that he was a sober, austere man 
who was deeply religious and, at times, 
canted away by spells of mysticism. He was 
fervently interested In evangelizing other 
peoples and obsessed with the dream of a 
crusade against the Moors. This last point 
was cfirectty related to his up-bringing as a 
knight. Nevertheless, although such 
characteristics have been stressed ever 
since the 15th century to this day, we 
cannot forget that Henry was a powerful 
feudal lord living at the end of the Middle 
Ages. He was concerned with making his 
estates grander and he did so in a practical 
and sometimes calculating manner. He was 
always very attentive about the way in 
which his administration was run and how 
he multiplied his wealth. He was ever eager 
to increase the Impact of his political and 
feudal influence by having a high number 
of subjects reliant on him. This was one of 
the reasons why the enormous income he 
received from a variety of sources was 
spent so lavishly. Just fo give an example. 
and relying on different studies that are, 
however. Incomplete, we can mention that 
apart from the duchy of Viseu, his estates in 
Covilha, AI6a<?ovas, the lands around 
Sagres, Lagos and A Ivor, the dues from the 
Madeira and Azores islands, and payments 
received for hfe administration of the Order 
of Christ, Henry's Income also came from hb 
exclusive tunny and sea-bass fishing rights, 
his nation-wide monopoly on soap-making 
and its marketing, his indigo dying factories, 
coral fishing, all trading south of Cape Nad 


and funds from many other licences, 
estates, houses, mills, ships and others. 


Another aspect which has given rise 
to much commentary in studies about 
Henry the Navigator, was his vast field of 
teaming. It has been proved, however, that 
some Ideas about his knowledge are 
nothing but myths which have been 
crystallized down through the ages. One of 
the myths is that he ran a naval school in 
Sagres. Serious historians have denied such 
allegations; nevertheless. It is curious to see 
how such a mistaken concept managed to 
take root not only in Portugal but also 
abroad. In having said this, however, it 
would be wror^r for lb to go fo the opposite 
extreme and make Henry out to be 
uneducated. It Is a fact that he was a man 
of considerable influence in the history of 
Portuguese culture. He made It his concern 
to finance the university, provide aid to 
physicists and asbomomers and bring the 
cartographer, Jdcome de Majorca to 
Portugal. He ordered the charting of newly 
discovered lands and introduced sugar- 
cane growing fo Madeira. But more than 
anything else. In order to satisfy his own 
curiosity and search for new sources of 
wealth, he had the great merit of 
encouragng and financing the voyages of 
discovery. 


Thanks to Henry's motto. “Talent de 
Bien Falre" ("The Desire to do Wen we can 
also recall other deeds which. In the words 
of the poet Camoens, “freed men from the 
obscurity of death." it was he who gave the 
impetus to embarking upon the Discoveries 
of the Modem Age. 

Jose Manuel Garcia 





NATIONAL COMMISSION 
FOR THE CELEBRATION 
OF THE PORTUGUESE DISCOVERIES 

Casa dos Bicos Rua dos Bacalhoeiios 1 100 Lisbon 
Tel.: 351.1.8884827 - Fax: 351J.8873380 


t 




Page 18 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 


SPORTS 




Maddux and Bagwell Add 
To Short Season’s Trophies 



U.S. Soccer League 
Is Delayed Until ’96 


The Associated Press 

NEW YORK — The Cy 
Young award winner, Greg 
Maddux, and the National 
League’s most valuable player, 
Jeff Bagwell, added to their 
honors Wednesday when they 
were selected for the league’s 
Gold Glove team. 

The San Francisco Giants 
bad three players on the team: 
outfielders Barry Bonds and 
Darren Lewis and third base- 
man Matt Williams. 

Others picked for the team of 
top fielders were Houston sec- 
ond baseman Craig Biggio, Cin- 
cinnati shortstop Barry Larkin, 
Montreal outfielder Marquis 


Grissom and Sl Louis catcher 
Tom Pagnozzi. 

Maddux, the Atlanta ace, 
and Bonds each won his fifth 
straight Gold Glove. Bagwell, 


who led major league first base- 
men in assists, and Biggio be- 
came the first Astros to win 
Gold Gloves since Cesar Ce- 
deno in 1976. 

”1116 extra hours and extra 
fielding drills have really paid 
off,” said Biggio, an All-Star 
catcher in 1991 who converted 
to the infield the next season. 

Lewis and Larkin also wore 
first-time winners. Williams 
and Pagnozzi each won three 
times before and Grissom won 
for the second straight year. 


The Gold Gloves have been 
presented by Rawlings since 
1957 for fielding excellence. 
Managers and coaches vote for 
the awards. 

“It is nice to be recognized 
for achievement beyond pitch- 
ing,” said Maddux, who recent- 
ly won a record third straight 
Cy Young Award. 

On Tuesday, Don Mattingly 
set an AL record with his ninth 
Gold Glove at first base, and 
Wade Boggs was honored for 
the first tune at third base. 


Proposed Tour Is Called 
Out of Bounds by PGA 


Compiled by Our Staff Fnm Dispatches 

LOS ANGELES — How 
much golf is too much? 

Apparently if it's golf from a 
rival to the PGA Tour. 

In a development certain to 
send shock waves through 
men's professional golf. Fox 
Broadcasting said Tuesday it 
planned to co-sponsor a new 
golf tour in 1995. But the PGA 
tour commissioner, Tim Fin- 
chem, said he would not let any 
PGA professionals play. 

Fox would co-sponsor the 
tour with Executive Sports, an 
event management firm in Del- 
ray Beach, Florida. Fox report- 
edly plans to televise about 
eight tournaments with be- 
tween 30 to 40 players. Total 
prize money would be in excess 
of $25 million. 

The 1994 PGA Tour encom- 
passed 50 events with prize 
money' of $82 million. 

Greg Norman, who has 
sought a world tour for golfs 
top players for a long time, met 
with Executive Sports officials 
at Sherwood Country Cub in 
Thousand Oaks, California, 
where his Franklin Funds 
Shark Shootout will be played 
beginning Friday. 

Norman, who did not return 
phone calls, was said to have 
called a players’ meeting 
Wednesday afternoon at Sher- 
wood. 

The PGA European Tom- 
said Wednesday that it, too. 
was opposed to the proposed 
tour. 

“There has to be serious con- 
cern over any attempt to under- 
mine the essential elements of 
tour jurisdiction,” Ken Scho- 
field, executive director of the 
European tour, said in Virginia 
Water, England. 

Schofield said he agrees with 
Finch cm that the Fox project 
“would have a negative impact 
on existing events and result in 
fewer playing opportunities for 
Tour membeh. 

The PGA Tour released a 
statement by Finchem about 


the new Fox tour on Tuesday 
even before the announcement 
of the tour’s creation. Photo- 
copies of Finchem’s statement 
were left in players’ lockers at 
Sherwood, where the golfers 
played a practice round. 

In his statement, Finchem 
said the PGA Tour supported 
more international competi- 
tion, but only if such projects 
met certain rules: whether it 
would benefit golf, whether it 
had the support of all golf orga- 
nizations and whether it was 
structured to help existing 
tours. 

The way Finchem kept score, 
the game’s over. 

“In our view, the proposal 
from Fox and Executive Sports, 
as we understand it, fails to 
meet any of these three crite- 
ria,” Finchem said in the state- 
ment 

He also said that if the 1995 
Fox tour is staged as planned, 
the PGA Tour will fulfill its 
network television agreements 
as well as its contracts with title 
sponsors and tournaments. 

In other words, Finchem said 
the PGA Tour will provide 
players for 1995 tournaments 
and he said he had the means to 
do iL 

“By enforcing our television 
release and conflicting event 


Mattingly led major league 
first baseman with a fielding 
percentage of .998, committing 
only two errors with the New 
York Yankees. 

His ninth award, and fourth 
in a row, moved him past 
George Scott for the most in the 
AL at first base. Keith Hernan- 
dez won 1 1 in the NL. 

Boggs, like the rest of the 
Yankees* infielders, was helped 
by Mattingly’s skill at pulling in 
inaccurate throws. In 1993, his 
first season since leaving Bos- 
ton for the Yankees, Boggs led 
the league in fielding percent- 
age (.970) for the first time, but 
was beaten out by Robin Ven- 
tura for the GOId Glove. 

This year, his 13th in the ma- 
jors, Boggs won after tying for 
second among AL third base- 
man in double plays and finish- 
ing third in assists. He a 
.962 fielding percentage. 

“I really thought I would 
never win a Gold Glove,” he 
said. “I credit this award to a Jot 



Compiled by Our Stiff From Dispatches 

NEW YORK — Despite 
staging a World Cup last sum- 
mer that was the most profit- 
able in history, soccer in the 
United States suffered a set- 
back Wednesday with the post- 
ponement until 1996 of the start 
of a professional outdoor 
league. 

Original plans called for play 
to begin m 1995 in Major 
LeagueSoccer (MLS), whree 
development was mandated by 
the world soccer body FIF A in 
granting the United States the 
right to host the 1994 World 
Cup. 

“Really, we had no choice 


but to move it to April 1996 to 
make sure we get off to a flying 
start and I am confident that we 
will.” said Alan Rothenberg, 
president of the U.S. soccer fed- 
eration and the driving force 
behind MLS. 

“From the beginning we have 
all said it is far more important 
that we launch Major League 
Soccer right, than we do it on 
any particular ordained timeta- 
ble. 

“Our steadfast goal is to do it 
right and we are not going to be 
rushed into doing anything that 
we will regret later,” Rolhen- 
berg said. 

Rothenberg announced that 
two more venues, Chicago and 
Tampa, Florida, have been add- 
ed to make eight confirmed 
franchise locations. In June, 
Boston, Los Angeles, New Jer- 
sey, San Jose, Washington, 
D.C. and Columbus. Ohio were 
announced. 

A ninth team, on Long Island 
in New York, which was an- 
nounced in the summer, will 


Cbrv- O'Meara/The AwnooKd Prca 

REVENGE — Horace Grant, dunking over Scott Skiles, got 21 points and 13 
rebounds as the Magic, which lost its season opener to file Bullets, posted a 122-102 
victory. Shaqralle O’Neal, behind Grant, had 229 points, 13 rebounds and five Modes. 


of patience and perseverance. 
With five batting titles, I want- 


ed to prove that I could play 
defense.” 


Ken Griffey Jr. of Seattle be- 


came the first AL outfielder to 
win five straight Gold Gloves, 
and California pitcher -Mark 
Langston won his sixth overall. 

Toronto second baseman 
Roberto Alomar, Cleveland 


shortstop Omar Vizquel, out- 
fielders Devon White of Toron- 
to and Kenny Lofton of Cleve- 
land and Texas catcher Ivan 
Rodriguez all were repeat win- 
ners from last season. 


Alomar, Langston and White 
each won their fourth in a row. 
White has won six overall; the 
record for an outfielder is 12 by 
Willie Mays and Roberto Cle- 
mente. 


earliest because of stadium 
problems. 

“In Long Island, a new stadi- 
um W as punned and we will 
definitely have a team there 
when the stadium is ready, 
hopefully in 1997,” Rothenberg 
said. “As of now, we have not 
identified an interim place to 
play that meets our stand ards. ” 

Though MLS — and FIFA 
— standards include grass 
fields. Rothenberg was optimis- 
tic that a solution will be found 
to keep the league at Giants 
Stadium in Nerw Jersey, which 
has artificial turf. “We have had 
serious discussions with people 
at Giants Stadium, and the 
move to a 1996 start is also 
encouraging on that,” Rolhen- 
berg said. 

Top candidates for the re- 
maining two teams are Dallas, 
Denver, Detroit, Indianapolis, 
Kansas City, Miami, San Die- 
go, Seattle and Tulsa. jk 

When FIFA surprised -dk 
soccer world by awarding the 
1994 World Cud to the United 


1994 World Cup to the United 
States — a country that has no 


outdoor league — a major con- 
dition was that a “top level divi- 


sion one professional soccer 
league be developed.” 

Rothenberg contended that 
only now, after staging a suc- 
cessful World Cup, are the con- 
ditions right in the United 
States to raise the 550 million 
needed to start the league. - 

“All 1 know is that several 
weeks before the World Cup 
there were still sceptics that we 
could have a successful World 
Cup and if you think in that 
same environment we could 
have been raising tons of money 
you are wrong,” said Rothen- 
berg, who received $7 million as 


not begin play until 1997 at the head of the World Cup organiz- 
ing committee. 


Chinese Swimmer Fails Drug Test 


sl--. 


regulations,” Finchem said. 
The PGA Tour does not al- 


NEW YORK (AP) — Yang Aibua, the Chinese swimmer who 
won the women's 400-meter freestyle at the world championships 
last September, and several teammates have shown traces of 
drugs, officials said Wednesday. 

Aihua flunked a random drug test administered by FINA just 
before the Asian Games in Hiroshima, Japan, last month, accord- 
ing to Dr. Alan Richardson, a member of the federation’s medical 
commission. He said Yang's sample showed greatly elevated levels 
of testosterone, a male hormone. 

Richardson said that urine samples of several other Chinese 
swimmers also detected drugs. But he said authorities were not 
sure whether these “were banned substances or occurred natural- 
ly,” and were not prepared to declare them positive tests. 


NBA Standings 


EASTERN CONFERENCE 
Atlantic DJvisioa 


low players in its membership 
to play in events staged at the 


to play in events staged at the 
same time as its own events. 

The proposed tour would 
give Fox its third major sports 
property. Fox outbid CBS for 
the rights to the NFC football 
package, agreeing to pay $1.58 
billion over four years. Fox also 
plans to televise National 
Hockey League games if there 
is a season. 


WBC Retaliates Against California 

MEXICO CITY (AP) — The World Boxing Council will not 
sanction any world title fights in California for four months to 
protest the recently approved state initiative that would bar public 


aid to illegal immigrants. 

The boycott will be in effect from Nov. 22 through March 30, 
said the WBCs president, Jos* Sulaiman. 

He said that any Mexican boxer who fights in California during 
that period will be barred from WBC matches for two years. The 
WBC is based in Mexico City; mexican immigrants would be hurt 
most by Proposition 187, which will bar illegal immigrants from 
state health, education and other social services. 


David Hill, the president of 
Fox Sports, who could not be 
reached for comment Tuesday 
night, has previously expressed 
interest in also getting into the 
boxing business. 


Orlando 

w L 

4 2 

Pet 

.667 

OB 

Wathbtetan 

4 2 

4*7 

— 

New York 

3 2 

400 

to 

NmJnvy 

2 5 

J36 

TV, 

Boston 

1 4 

JOQ 

7 Vi 

Mtoml 

1 4 

-200 

2W 

PMiodetoftta 

1 4 

.IX 

3» 

Detroit 

Coe trot Division 
4 2 

L67 



Cleveland 

3 2 

M0 

to 

Milwaukee 

3 2 

MO 

Vi 

Chicago 

3 3 

SK 

1 

Indiana 

3 3 

.500 - 

1 

Ctartotte 

2 4 

J33 

2 

Atlanta 

2 5 

JBA 

7V, 

WESTERN CONFERENCE 
MkhMSt Division 

W L Pet 

Houston 7 0 1JW0 

GB 

Denver 

5 1 

sa 

Ite 

Dallas 

3 2 

M0 

3 

San Antonio 

3 2 

MO 

3 

utoft 

3 4 

J39 

4 

Minnesota 

1 6 

.IX 

6 

Gotten State 

Pacific Division 
5 1 

J33 



Portland 

3 1 

JS0 

1 

Ptaenlx 

4 2 

MJ 

1 

Socramenta 

3 2 

M0 

ite 

Seattle 

3 2 

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1 to 

LJL Lakers 

3 4 

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LA-CHupers 

0 6 

SRC 

5 


For the Record 


Ruud Gtdfit, the Dutch soccer star, denied reports he plans to 
join the Japanese club Yokohama Flugels next season. {Reuters) 


TUESDAY’S GAMES 

Seattle 19 h JJ 32—184 

N*w Jersey nain 23-112 

S: K*fmi9-T5S-1226, Gill 6-164-5 23. Puyton4 
174-422; MJ: Coleman 4 IS 6-9 25 Anderson 4- 
12 11-12 20. Reboends-Seattle 61 I Kemp 13), 
New Jersey S3 (Coleman 10). Assists— Seattle 


» (Payton 6), New Jersey 36 (Anderson 14). 
Ctartotte 23 12 1* 24 t-«6 

Oevckmd 26 21 11 20 u— ® 

CH: Moummo«-19543a Gattbon 7-4M M; 
CL; MU Is 6-16 64 19. Hill 419 44 22. Re- 
Steeds— Charlotte 55 (Mourning 9). Cleve- 
land 50 (Hill 16). Assists— Charlotte 21 IBo- 
gues 11). Cleveland 23 (Price 7). 

Son Antonio 21 22 34 23- 99 

Denver 37 21 22 32-112 

S: Robinson 14-20 5-10 33, Elliott 5-16 M 14; 
D: Hmnmonds 9-16 4-S 22, Rosen 7-1T 2-3 16. 
Rebcunds Son Antonio 55 (Robinson 20). 
Denver 56 [Mutamba II). Assists— San Anto- 
nio 23 {Robbaan 6], Denver 18 (Pack 6). 
Sacramento n w » 23— 99 

Houston 22 23 30 34-105 

S: Richmond 11-22 44 Jl. Wiltons 5-10 34 
15; H: Otoiuwen 11-254-7 28. Maxwell 6-172-2 
13. Rebounds— Sacramento 56 I Pol mice 11), 
Houston 55 (Ololvwan 14). Assists— Sacra- 
mento 24 (Webb 6). Houston 23 (Maxwell B). 
Indiana 19 19 22 21-81 

Milwaukee 27 31 14 S-B2 

i: Miller 4-15 7-7 17. D.Davis 49 1-5 13; M: 
Robinson 6-18 34 u Baker 7-16 M 15. Re- 
boonds— Indiana 54 (DDevIs 13), Milwaukee 
57 (Baker ll). Assists— l ndtono 17 (M_tock- 
soa Miller 5). Milwaukee 22 (Baker 7). 
Phoenix 17 21 X 26-96 

Portland MM2? 16-93 

PH: Perry 7-10 54 19. Malerle 5-11 63 21i 

PO: D rexler 9-195-5 26, CRoofosonlO-lBO-l 22. 
Rebounds— Phoenix 50 (Manning 3), Portland 
65 (Williams 11). Assists— Phoenix 21 (Perry 
7), Portland 19 (Sfrrcfckmd. Dnrxler 6). 

UL Lakers 8 8 3 31—102 

LJL ai p psrs 27 31 22 12— 92 

LAL:CebaIIOS9-T26-1024,Dlvac 10-1546 34; 
LAC: Defter® 4-13 64 15. Vaught 7-14 40 34. 
Rebou nds — Lak e rs 51 (Divgc 141. Clippers 51 
IVauohn2I.Assists-Lakm2B(VanExelBI, 
Clippers 25 (Richardson 61. 

Minnesota IS 31 26 32—114 

eoidsn State 27 so 24 21—113 

M: Rider 416 1416 35, Rooks S-ll 10-12 X; 
GS: Hardaway 414 5-7 20. Strewed 343*13 34. 
Rogers 3-12 5-8 21. Rebounds— Minnesota 58 
(Rooks 11), Gotten state 62 (Gatling 9). As- 


ilsis— Minnesota 27 (Garland 6). Golden Stole 
31 (Jemiinan 13). 

Ph fl pd et pb t a 36 X 19 33-93 

Detroit 29 26 23 21—99 

P: Weatnerspoai 6-17411 31 Bur1an416 3-4 
27; D: HHI 10-20 2-2 22, Dummy 7-19 5-6 30. 
Rebounds— Philadelphia 42 (Weattwnpoon 
71. Detroit S6 (Mills 12). Asslsts-Phito<MPh)a 
22 (Barra 8). Detroit 26 (Hunter 7). 

Dallas 25 23 31 39-133 

Miami 25 33 31 36—115 

D: Mashburn 7-14 4-10 24 Jackson 142345 
25; M: Willis 10-17 44 34. Miner 7-13 68 21 
Rebounds— Dallas 50 (Jones 10). Miami S3 
(WMlls 8J. Assists— Dallas 17 ( Jockson 7), Mi- 
ami 22 (Cotes 51. 

wnsblnatoa X a 27 17—102 

Ortomto XXX 20 — IX 

W: "Duckworth 7-172-2 1 6. Chapman 7-1 7 2-2 
17; O: Grant 410 3-5 21. 0-Nool 10-19 414 29. 
Ra he un ds Washing ton 42 (Duckworth 7). 
Orlando 64 (O-Neol.Granl l3).Asslsts-Wash- 
Ingfon 34 (Skiles III, Orlando X (O'Neal, 
Hardaway. Shaw 6). 

Baetaa X 21 13 32- 94 

Atlanta X 21 X 36-110 

B; Fax 8-12 7-7 10. Wilkins 420 42 16; A: 
Aiigmcn 11-21 4-5 27. Norman 9-13 0-0 19. Re- 
bo nn d i B o s to n 51 (Strong 11), Atlanta 50 
(Kencak 11). Assists— Boston 10 (Fox. 
Mdhmlal 4), Alton to 31 (Blaylock 15). 


BASKETBALL 

National Basketball Association 
NEW JERSEY— Activated Erie Ftavd. 
guard, from the In lured list. Placed Ylnko 
Dare, center, on me iniured list. 

FOOTBALL 

National Football League 
MIAMI— Waived Mark Htog& running bock. 
NEW ENGLAND— Claimed Elbert EM Is. 
wide receiver, eft Pittsburgh's practice squad. 

N EW ORLEANS — Signed Andy McCollum, 
offensive guard. 

PHILADELPHIA — Signed Jeft Wilkins, 
ptoceklcker. to 1-year contract. 


“We first had to silence the 
sceptics,” said Rothenberg. 

Although he did not give fur- 
ther details, there have been re- 
ports that some of the cities 
bidding for MLS franchises are 
having difficulty raising fi- 
nances. 

Asked about FIFA's re- 
sponse to the postponement, 
Rolhenberg said: “They 4fje 
fully supportive of what we are 
doing. They, like we, want it to 
succeed. Everybody is looking 
at it on a long-term basis and 
whatever we nan do to .make 
sure it is a long term success 
they support.” 

As indication of FIFA’s 
backing, league officials pre- 
sented a letter from FIFA’s 
general secretary, Sepp Blatter. 

“FIFA is less concerned with 
when MLS can get started, than 
with the quality of the product 
itself,” Blatter wrote. “Thus we 
fully support the idea of the 
MLS delaying its start until 
1996. . ” 

Soccer will not disappear in 
the year and half before the 
MLS kicks off. Friendly games 
in 1995 could feature national 
teams from the United States 
and other countries or top inter- 
national club teams, Rothen- 
berg said. (Reuters, AP) 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 17, 1994 


Page 19 




r ' 

' Sou 

5; - ur "w 

* «- : w v 





IP 


Georgia, With a 5-0 Waltz, 
Bands Wales Worst Defeat 

Our Staff From Dispacha Welsh hopes for qualifying for for X-rays and the team doctor, 

. LONDON — The unfash- the finals. Wales must play four Jan Ekstrand, said. "It appears 
jonable soccer nations of Gro- of its seven remaining games to be a fracture. Tomas told me 
aba, Georgia and Israel side against group favorites Gama- it was very painful. After X- 
the fendight Wednesday on a ny and Bulgaria. rays well decide if surgery is 

: night erf surprises in European “The players and myself are nealed." 

Championship qualifying ashamed.” Wales’ manager. Brolin, who also plays for 
matches. Mike Smith, said. “We should Parma in the Italian league, was 

• Croatia stunned three-time have done a lot better than that, injured when he set up Dahlin 

world champion Italy, 2-1, in How can I sum up a game like for the go ahead goal with a 
.Palermo to remain unbeaten that? They were far better than cross from the left 20 minutes 
and open a three-point lead us.” from time. 

.atop Group 4. In numerical terms, it was In Brussels, top goalie Michel 

• Georgia, which started play- Wales’ biggest defeat since a 6-1 Preud’homme made a begin - 

jng internationals only two Oct’s error to hand Macedonia 

EUROPEAN SOCCER Icf, Uk 

France in >mGeo^ 

race for the lop places in Group 






Becker Adds Sampras 
To Novemberfest List 


_ . . . n4rtHI could wdl be another Novem- Sampras in strai^it sets indoora 

berfest in store for the local fhrthe swondrime rna month 
hero who. since winning Wim- (he won 6-4, M m the samfi- 
FRANKFURT — The aty ^lcdon at age 17, has doubled as nals en route “ 

of Leimen, where Boris Becker nat ; nnal icon Stockholm), Stefan Edberg was 

was bom and raised to be both Qn Thesday, Becker survived making a successful stert by 
his own man and a tennis star, slugfest i vaQ ise- beating Ivanisevic, 6-3, 6-4. 

is less than an hours drive - m a third _ sct tie- Sampras now has to beat Ed- 

south of this banker’s paradise h rpaVtM . Wednesday, in a ban- berg on Thursday lo remain in 
(a tourist s paradise, it is not). ncr _ infest atmosphere that the tournament, while Ivamsc- 
And it seems that whatever Davis Cup seem biparti- vie, a senrifinalist the last two 
version of Becker steps onto the ^ jjj comparison, he was con- years, was eliminated with his 
powder blue surface inside the gjderably more impressive, dis- 0-2 record. 

Ciuiknlla kn «c nut I Pn u i i - in 


jng internationals only two ner*s error to hand Macedonia 

EUROPEAN SOCCER a, ffi^ r I 1 *S- muh „ 

j^Frnncein.mGearsa. 

against Azerbaijan in neutral race for the top places in Group 

Wey was not in itself an up- ”” for the Gist time smee gam- z 

set, what was surprising was JP® independence, scored its Before the game, Belgian 
that Israel ended the night in *“?* .f 0 ?* 8 S? d coach Paul van Himst predicted 

second place in Group lbehind P 0 ?* ”? SJJ’PJJSS 11 Macedonians would dig-in 
p ymnifl to remain cm course *“5 1081 to Moldova at back and strike with rap- 

■r* its first appearance in a ma- an “ "*“gana. id counter-offense. He was 

K SSSSSS Although Smith coidd not proved right, and after a first 

. Although the qualifying com- “92“ IV ^ diest ? United half with nothing to do, Preud- 
petiriandoes not end until No- wmgpr Ryan' Gig^,who missed ’homme was caught cold just 

5mber 1995, the credentials of SjaSltSSited ^“ ules 

Group 1 rivals France and Po- s ™f“®P « another United The man voted best ^keeper 

put in doubt after ^ summer ’ s ^ orld , Cup ' 

Poland failed to beat a 10-man -™ 3 ? 001 s r Ia f Rush and Dean came out to meet a long, loop- 
Frcnch team in Zabize. Saimders of Aston Vflla, some ^ ball from Vujadin Stanojko- 

nSicTdespite its third Euro P cs mosl feared strft - vie. But he fumbled his catch 
emissive 0-0 draw in the “V.., , and the balled bounced clear to 


Poland failed to beat a 10-man 
French team in Zabize. 

. France, despite its third 
successive 0-0 draw in the 


Festhalle, be is suddenly pulled 
back in time: back to a less 
complicated era when he had 


..Jerabty more impressive, ens- 

posing of world No. 1 Pete Ivanisevic served 26 aces m 
Sampras 7-5, 7-5. losing to Becker, but managed 

“I t hink that is the best he has only six against Edberg. The 
ever played against me,” Sam- Swede got only three, but he 
pras said. also a lot fewer errors. 

The victory, featuring some Michael rhang kept alive his 
remarkable second serves and relatively s 1 *™ hopes of advanc- 
backhand returns from Becker, out of the Red Group by 
evened the German’s career re- crushing Spain’s overmatched 
cord against Sampras at 5-5 and c j a ycourt specialist Alberto 
all but guaranteed him one of Berasategui, 6-1. 6^0, in 43 nrin- 
the White Group’s two spots in utes j t the most lopsided 
Saturday’s semifinals. result in this eight-man touma- 

“It makes me try just a little meat since it moved from Man- 
bit harder,” said Becker of the hattan to Frankfurt in 1990, 
home croud’s enthusiasm. “It’s it smacked of piling on, 
because they support me so considering that, on Tuesday, 
much, and they expect so much Berasategui was beaten, 6-2, 6- 
of me. I want them to have a by another American base- 
very good feeling when they go liner, Andre Agassi, 
home at night. I think they had LuckiJy for Berasategui’s 
a pretty nice two days. self-esteem, he has an excuse: 

While Becker was beating ^ injury to his right thumb 

suffered during a sprawl in the 
— third game of the Agassi match. 

li T ?x “Maybe Michael would have 

Mij'vT'E W' beaten me, but I don’t think it 

would have been 6-1 , 6-0,” said 
Berasategui. when asked the ef- 
fect of the injury. 

The Spaniard, a finalist at the 
French Open, played in small- 
money South American clay- 
court tournaments during the 
last month in a longshot and 
ul timat ely successful attempt to 
qualify here. He considered not 
playing Wednesday after feel- 
ing pain during a morning war- 
mup, but after consulting with 
tournament physician, Hart- 
mut Krahl, he look the court 
with a wrap on his thumb. 

“I wasn’t 100 percent able to 
play, but I think I work hard 
enough to make it here,” said 
the seventh-ranked Berasate- 
gui, who needs to stay in the top 
right to guarantee himself a 
shot at alucrative bonus pool in 
1995. 

In recent years, there would 
have been no way for Berasate- 
gui to fall out of the top eight in 
F rankf urt. Bui because of a re- 
cent and somewhat controver- 
sial rule change, alternate Mi- 
chael Stick, ranked ninth, could 
have bumped him down by 
playing. Until this year, alter- 
nates who joined the event in 
midstream were eligible to win 
only prize money; now, they 
ra n earn ranking points and 
even qualify for the semifinals. 

One member of Berasategui’s 
entourage who preferred to re- 
main anonymous said he had 
the impre s sion that the tourna- 
ment management would have 
been happy to see Stich, a Ger- 
man whose game is infinitely 
nay srobbkbine/RjnBen better suited to this surface, 

whether I should ay or laugh.” take the Spaniard’s place. 

J “Nobody put any pressure on 

Alberto not to play,” said the 


fewer worldly distractions gygj. played against me,” Sam- 
swirling through his head, back ^d. 
to an era when he played with The victory, featuring some 
unadulterated power and un- remarkable second serves and 
wavering faith in his ability to backhand returns from Becker, 
rear back and hit line after line, evened the German’s career re- 
Tbe last time he held court cord against Sampras at 5-5 and 
here, in 1992, he ended up win- all but guaranteed him one of 
ning the IBM/ ATP Tour World the White Group’s two spots in 
Championship on his 25th Saturday’s semifinals, 
birthday, blowing past every- “It makes me try just a little 
thing except the tnck candles bit harder,” said Becker of^the 
that the tournament organizers home crowd’s enthusiasm. “It’s 
placed on his cake for the post- because they support me so 
match celebration. much, and they expect so much 

This year, his 27th birthday of me. I want them to have a 


STBfiySB „ But i. was thc Wclsh drfsn*; Boris Becker arade it two straight over Pete Sarapras. 

For Navratilova, a 

hind mthe 50 th mmuto grichiani and Shota Arvdadze ? 3 ^ “wd. 

m front of the joyous 25,000 ^ p^enno, Sidly. striker By Robin Finn “I couldn't wait to finish this 

SS- Dynam ° Stadsam m Davor Suker scored one goal in £ ^ have it be over.” said 

■,t j imtitatiif i i Hrmum TTrilisL each half to give Croatia a —-1 xinw vni? — rhp won* Sabatuiii who call ed Navrad- 

a S 10 scored ^ against Italy. best voDeyer ever. 

Gto™ 2 against Belgium in m ^ ^ ^ Martin ^Sy^firsl defeat of the tour- 5? iS^^herback- ‘ ,She ’ s 50 talented, she can do 
®™ sse ^‘ _ _ . Dahlin fear another. Bui Brolin, nament. in the p amp markin g , .. J . ,, anything, and she’s almost 40, 

^ a to * ot 

rajuner. 1 ^ the game in the ^ ■ wi&’points - thdr ^ ,e ^ d wto After Ute Tuesday night de- 

tt'ssssztsz 7 “ -Wtoh^ z^^r a * io * loal 

D-mark *St aiovic Bat in the opening round of b'^ 00 - "bc« *e fought her 

T\— . i4>a niw ilw lliwi The Goal Scoring the Virginia KjChampion- dam she’d won a record nine 


i OJ5 YCiU| UU A/ui 1 /uuivma; -M- — ” - ” , 

falls on the Tuesday after the very good feeling when they go 
tournament but judging from home at night I think they had 
Kjntcn ThiekirrTbc Aufloaicd ta his performance in his first two a pretty nice two days. 

Boris Becker made it two straight over Pete Sampras. round-robin matches, there While Becker was beating 

For Navratilova , a Gracious Exit 


.i. . ~ —— —— — __ New i one i ima service — 7 . : „ , . 

Traliffl. each half to give Croatia a 2-1 NFW YORK — She wore Sabatim, who called Navrati- 

In Stockholm, Brolm sconed against Italy. hAJm on her sleevTand for lova the best volleyer ever, 

one goal and set up Martin iSysfirsl defeat of the tour- v ^ s he i^mShefback- “She’s so talented, she can do 

namcnt ’ ? the game marking ^ J _ on f^ t won’t anything, and she’s almost 40 


kmg jinx over defending Cham- ^ 

pion Daunazk with a 3-0 vio- 

lory in Sevilla, its fifth over the Tlw> Smrm0‘ 

Dmes in major championship 1HC WJdl OWriUg 

matches going back to the 1984 AzertaJI— % i*S3T * 

European chanqnonship semi- saHm:n>mmHwt«u (ami), Rsnnv no- 
finals in France. cmmai cswi. 

.The result maintained ]pllBl x 
Skim’s 100 percent start in sows: mi»uh A nna Hoam ml*».doooio 
^G roup 3 and left it five points Gamqfcs^isahj.uitaEnriwMorti*. 

dear of the pack, which in- emu i Ammo* 
chides the champions, Belgium, aym ; Anwusouftaipw.cuiu fo» 

Cyj»us— 2-0 winners over At- 1 

menia — and Macedonia. scmniNMn- e»f*vwt««wiwi*Ms 

But not afl of Europe’s giants - z»«»bui^ isw,). 

ended the mght with red faces, muh a, i m m qty • 

Former world champion aow:TBm»Broiint44!»i).wartinD«*- 

Gennany survived a potentidly "“sSSSJi*, 1 , km > 
awkward trip to Tirana with a scorer. nw» Bk*»i t«m>. 

2-1 win over Albania in Group 

7, while Bulgaria beat Moldova, 5aren:iwy-DinoBaa9io(f0tti).'Cre- 

4-1, in the same section to lead 

the group. . , Scorers: SJowenfa — ZlattoZaioylc 155th); 

Norway leapfrogged above uiboorto — vtaouawas sortustovoa t6«w. 
the Czech Republic and the a*> i»w. 

Netherlands to lead Group 5 rmrin > tim-m-r * ___ 

JSS&BJSLBtJSS 

the Czechs and Dutch drew (HJ ra ^ ms)- mat 

in Rotterdam. . . *_. . E 

And the Repubhc of S(xrcri . i«t», r m ***** UE 

maintained its unbeaten stmt (iiM.JoiinmierManosiM.AiMivTownnnd 
with a third successive win in (jew. GrewJ c 

Group 6, thunroing rival North- s**** viet 

em Ireland, 4Afor a first wn f m 

in BdfasL umh>, smta aiwu u («**)- ■ 

Dk: Tnsh lead Portugal, wno mmo i, nmm * we 

also have a maximum haul of ^scows: 11WI1) , ^ 

nine points from three games, icwiwuww.^ Chi 

an goal difference. ES&S^^****" '***- * 

Greece also maintainea its ^nmn^r gaww iwa. e mu Korn- ^ 
nerfect start, beating San Man- anw (bmu.- Romonta - sorm cma*» 
noiry 2-0 at home. The Greeks mmw. anatl , 

lead Grorm 8 with nine points, Fwues awijbi 
to“T^both Scotland and 
Russia on seven, following tne takllrwn g mi. 

1-1 draw in Glasgow. SSLHS2SE.’m*>.c«-™. 

Wales’s loss, corolcd witha «. 

3-2 defeat last month m another sc«ui*«*i 

. aasSiifS: raaa- 


1 anve nom uve mciaa. * uuiuji 

AmfeaHoB •, iotmi 2 goalie GianLuca Pagliuca 

Scofwrejaoonoo Horari (»th>- Rumiv ^e ball but COuld DOt 

■onmai (5nt). 

sraoo 2 Stop 1L 

wusDnowti . Tlie Croat forward made it 

Scorers: Miouei Anud MocW Mlafl.Donate . . , R . ... nerfect 

Gama do SVvo Luis Enrique Mart mu two m the Doth, wjtn a poieci 

nwi). header as the Italian defense 

proved unusually 

loeHom flam. hesitant followmg the retire- 

gumn utoumi ment of longtime captain- 

Scorers: BeWiiBi— GertVWtwvWl (SlsH. _ _ w?. . nrn TYfisrsrct 

Mncadonio — Zoron BukovsM (soti). sweeper Fran co Barest 

csre«»3 Dmo Baggio, the strongly- 

tanUmi fflga eryhopto.wh 
Hn (iwi). Parma, headed in Italy s only 

and usdess goal in injury tune. 

■rerer. Tlmreu ^ ^ 

nonr v amid 2 In the rain at Trabzon, Tur- 

Scorere: Holy — Dtao Bowto W0Hi)-'Cn>. , Twae l fc-nt second olace 


zum with fom points rnetr and all opponents who 
qualification chances in jeopar- weren » t savvy enough to get out 

Suker, who plays with Seville °f harm s way. 
in Spain, kicked in the first goal But m the opening) round of 
in the 32d minute, with a left the Virginia Slims Champion- 
drive from five meters. Italian ships at Madison Square Gar- 
t D.*ii.i/-« dm. Martina Navratilova, een- 


den, Martina Navratilova, gen- 
erally regarded as the finest 
woman athlete to grace the 
sport of tennis, played her last 
singles match under the same 


two m IDC JOUI, wmi a paiw o-r. c u-.j 

header as the Italian defense shed 

proved unusually erratic and earned a record 18 titles, 
hesitant following the retire- Pitted against one of the 
ment of longtime captain- strapping young women whose 
sweeper Franco Barest demolition-style ground strokes 

Dmo Baggio, the strongly- had lately become the bane of 
built midfielder who plays with ha competitive existence, Nav- 
Parma. headed in Italy’s only ratilova was defeated, 6-4, 6-2, 


hesitant following the retire- 
ment of longtime captain- 
sweeper Franco Barest 

Dmo Baggio, the strongly- 
built midfielder who plays with 
Parma, headed in Italy’s 9nly 
and usdess goal in injury time, 
the 92th. 

In the rain at Trabzon, Tur- 
key, Israel kept second place 
after goals from Rouen Hanoi, 
in the 30th minute, and Ronnie 
Rosenthal, in the 51st. Israel 

has six points from three games, 
one point behind idle Romania. 
Azerbaijan has lost its three 
matches and has yet to score. 

European governing body 
UEFA ordered the match 


After the Tuesday night de- 
feat, Navratilova, whose finest 
moment this year came at Wim- 
bledon, where she fought ha 
way to the final of the grand 
slam she’d won a record nine 
times, was party to another 
piece of history. A commemo- 
rative banner, the first tribute 
of its kind to any non-Knick or 
Ranger, was raised to the Gar- 
den’s rafters, and on a less som- 
ber note, she jumped for joy as 
Virginia Slims, ha sport’s long- 
time sponsor, gave her a Har- 
ley-Davidson motorcycle. 

Navratilova collected a re- 
cord 167 titles ova a tennis life- 
time that spanned, and often 
transcended, three generations. 


played at a neutnd site because 0* * shot in edgewise. ‘ 

of civil unrest m the former So : S -j don « t know whether I cord 109 titles ova aB. -- 

viet n^ubhe. Some SWAzch ^ OT i aughf ” said Nav- Butttaj jgg “ Navratilova: “I don’t know whether I should ay or laugh, 

fans made the top. ratilova, who owned a 15-5 ca- her 38th birthday and tired, de- 

■"*“* ■—»- • UEFA suffered a setback —card, aeainst Sabatini be- spite ha tenacious grip on a 

a— > Hv9an sniiws BMu Wednesday in its bid for total when the top-five ranking, of the emo- was too busy bwkpedalmg to Sabatim kept Navratiloi 

« wSSUann ci8HD. uh cxjntrol ova television rights of Arpcntill e’ s adrenaline and un- tional and physical strains that get emotional about anything 

Champions’ League matches. 2:,;™ demeanor Droved supe- inevitably accompany any else. And then, at match pom t, I 

T^****»i™ Alton app^ court upheld champitm, Navratilova (Wded thought, ‘OJU this is the last 

omiov («k). E nuiKarta- an eartier ruling by Bern’s judi- n< ^[ nft tVl „ to call it quits while the call was point m ever play.' ” 

^ office in favordf a Swiss- l 8^ losf still hers to make. Using lobs and passing shots 

crew > based company, CWL Tele- mobabN rather lose This loss effectively brought to prevent Navratilova from es- 

^ u- sport. CWL had filed a match, rdprobabtyr^r^ closure to an epic career, and it tablishing herself at the net, S* 

^^LAMkoWfi poo- conqriidnt that UEFA s claim ' ^ qj die also removed the last and only batim got the first break of the 

no. to M the exclusive owner of anyoa case. — oure serve-an d- voU ever from a match in the 5th game and took 


by Gabriela S^ahnL . Navrau- 19 w grand slam 

lava, ^o.^ved a white towel first at Wim- 

m appreaation of thestanding ble gf on m 197g ^ the last, 

ovation dic . the back on the lawn she most cber- 

S e ished, at Wimbledon in 1990. 
court, gradually threw in tne , 

towel in resignation. She held the N o. 1 ranking on 

Rchvmi Sahatini’s brassy nine separate occasions, domi- 
Between babaums orassy naledt f edrcuit with ha record 

gpt a shot m edgewise. __ alfd'lM tifles over aB. 



Ray SrobhkbincRnam 


tablishing herself at the net, Sa- 
ba tini got the first break of the 
matrh in the 5th game and took 


serve for 5-3, and after Navrati- w jj 0 r piatify to play. 1 don’t 
lova, amid a stream of sdf-cas- waQl anybody to pull out. It’s 
tigation, held for 5-4, the 9th- not a natural thing.” 
ranked Argentine used a service Becker’s ease on an indoor 
winner to complete a set she also can seem less than 

had begun with a pair of double natural at times. With no wind, 
faults. sun or dust to bother his pale 

Navratilova got off to a 2-0 blue eyes or flat, high-risk 


to be the exclusive owner of anyone : ose. sue pure serre-and-voHeya from a match in the 5th game and took Navratilova got off 1 to a blue eyes or flat, high-nsk 

commercial rights to the Cham- f 3 ™? Sh^Tas game that is, according to Nav- a 3-2 lead. But with a forehand lead in the secondset, but Saba- strokes, he can swing even more 

Pions League violated. Swi^ tend Sva, in danga of turning driic of ha own, Navratilova lUtooa. conectedl hatred m fredy th^ usuaLAnd wh^be 

laws on unfair competition and gggrtg me nel I0T w generic. broke right back for 3-3 with a the 5th game she broke Navrati- * m good condition^ ashe is 


cartels. 


CROSSWORD 


ACROSS 

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44 Lawyer Roy 

4 5 Appetite 
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generic. 

Navratilova, who kept ha 
composure before, during and 
after this last and long-awaited 
hurrah, said it was far too early 
for ha to feel relief about final- 


broke right back for 3-3 with a 
sideline-skimming shot she 
punctuated with a one-word 
complement, “Yes!" 

Ha charge proved short- 
lived, though, and Sabatim, 


tini soon corrected that, and in 
the 5th game she broke Navrati- 
lova a second time and took a 3- 
2 lead. Navratilova didn’t even 


freely than usual. And when be 
is in good condition, as he is 
now, he closes on the net and 
covers it as well as anyone in 


livcu, angles shot, a backhand that w ho looked off rhythm 

ly achieving release from the playmg on drifiS away off the court just throughout the match and un- 

rrvmnetitive crucible. the tensions inherent in this en- . . , . _ „,„U — ", - 


source 
is Heated, as 


competitive crucible. the tensions inherent in this en- 

“I wanted this week to last,” counter, broke her again fora4- 
she said. “I’m upset about the 3 lead. This time it was a cross- 
match — die just ran me ova court backhand that P^f^ed 

f _ .. J 1 . J anri rPflrfv WVRTed 


Z ICaU. iiaviauiwvB uuvci» u « 

bother charing the forehand re- tennis , 
turn that Sabatim used to break "He is a lot better player in- 
fix 5-2, and die hit ha last ever door than out,” said Sampras, 
singles shot, a backh an d dial who looked off rhythm 

j aPF A Air rt llicf iLa f*int#4i onri lm- 


ahead of ha. at match point. 

In other first-round singli 
matches, top-seeded Steffi Gr 


UM VUJjMV—* 

characteristically spent some of 
it mumbling to himself. 

“I really didn’t have any 
chances,” he said. “I had two 


11 Balloon 

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19 Gaelic 

14 Rural nes. 

21 Vassal ry 

22 Beatrix Potter 
character 

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24 Moon ot Uranus 
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colloquially 

28 Of a particular 
locale 

ae Com flour 
91 Moves ata 
snail’s pace 
31 Proxies 
94 wapiti 
98 Resin 
38 Glittery, as a 
gown 

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49 Most 

enthusiastic 
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■aDancer-aciress 
Rivera 

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Solution to Pmasle of Nov. 16 


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sfjKyKrs sesaasass 

heart, but during the match I dtion. 


ES(X»TS& GUIDES 

BELGRAVIA 

ORCHIDS 

LONDON MBS GBHA MKH 
Emrf Agtoey Ccril W iI m bi 

UK 071 589 5237 


INTERNATIONAL CLASSIFIED 


(Continued From Page 8) 


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Page 20 


ART BUCHWALD 


Baby With Bathwater 



W ASHINGTON — After 
the election, which she 
lost. Governor Arm Richards 
said, “This is not the end of the 
world — it's the end of a cam- 
paign." 

Governor Richards was dead 
wrong. Last week's results were 
the end of the world — at least 
to many people who aren't do- 
ing too well m the country. 

“The Republican game plan 
is quite sim- 
ple,” Newt 
Stillwater told 
me. “We're go- 
ing to throw 
out the baby 
with the bath- 
water.” 

“How so?” I 
asked. 

“We’re go- 
ing to elimi- 
nate poor peo- 
ple, those who can't afford 
health care and folks who want 
to save the snail darter. We’re 
also going to make sure any 
illegal alien child doesn't get an 
education or a polio shot. In the 
words of Senator Ollie 
North ...” 

“I thought Ollie lost to 
Chuck Robb.” 

“He did, but he’s decided to 
lie and say he won.” 

“Are you going to balance 
the budget?” 

“You bet we are,” he said. 
“We're going to lake money 
from Head Start and senior citi- 
zens and give it to Strom Thur- 
mond for national security in 
South Carolina.’' 

“Why Thurmond?” 


“He's going to be chairman 
of the Soiate Armed Services 
Committee, and at 92 he de- 
serves all the military bases he 
can get" 

Stillwater told me that the 
Republicans were going to re- 
peal the Brady bill, which re- 
quires a waiting period for a 
gun. “Brady is unconstitutional 
and so is his wife. They handi- 
cap people who want to pur- 
chase AK weapons to shoot up 
the White House.” 

“Not to mention abortion 
clinics,” I said. “I guess Senator 
D* Amato will play a big role in 
the baby with the 


Buchwald 


Record Price for Tapestries 

The Associated Press 

LONDON — An unidenti- 
fied New York buyer paid a re- 
cord £842,000 (S ] 32 million > for 
four tapestries of episodes from 
the legend of the Holy Grail, 
designed by the Pre-Raphaelite 
artist Edward Burne-Jones. 
Christie’s said Wednesday. 


throwing out 
bathwater.” 

“Certainly. He’s going to be 
head of banking, so he feds he 
can throw out the baby any- 
where be wants to.” 

□ 

“Will Jesse Helms, the new 
chairman of foreign affairs, 
have an effect on foreign aid?” 

“We hope so. Jesse has al- 
ways been against throwing 
money down the rat holes of 
Third World countries, and he 
wants the poor nations to make 
sure they damn well know 
where the money is coming 
from.” 

“How is he going to do that?” 

“He’s only going to approve 
foreign aid to countries that use 
the money to buy North Caroli- 
na cigarettes. Jesse maintains a 
country that coughs together 
sticks together.” 

“Are the Republicans going 
to get us into a war?” 

“Only if it will help them in 
the 1996 election. I can’t think 
of two senators Td trust more to 
get us into a war than Helms 
and Thurmond.” 

“I suppose you're going to 
have to be nice to the Right to 
Life people since they helped 
you win so many seats.” 

“We’ve always been nice to 
them. They're our people, and 
we made them a promise that 
we would put prayer back in the 
schools as soon as we took the 
free lunches out.” 


Le Monde Turns 50s A New Look for an Institution# 


By Barry James 

International Herald Tribune 

P ARIS — Approaching its 50th 
anniversary next month, France’s 
newspaper of record, Le Monde, has 
justifiably achieved the status of a 
great institution. But as its editor in 
chief, Jean-Marie Colombani, points 
out, 50 is the age of fragility as well as 
of maturity. 

Although it is a beacon of accu- 
rate, responsible journalism, Le 
Monde has endured cliff-hanging 
economic and institutional crises for 
the past decade. Its circulation, in 
co mm on with that of other French 
daily newspapers, has been on a 15- 
year decline. And its revenue from 
sales and advertising is failing to 
keep up with its heavy fixed costs for 
news gathering and printing. 

So the anniversary is to be the 
opportunity for a new-Iook Le 
Monde, which will appear Jan. 9, 
aimed at bringing in new readers and 
tempting back lapsed ones. 

Colombani says that reforming Le 
Monde win not mean any dilution of 
quality. It will, he says, strive to be 
“not only the best French daily, but 
also one of the best newspapers in the 
world.” It will disturb “tranquil con- 
sciences and comfortable consen- 
suses.” It will continue to bean intelli- 
gent newspaper rather than media 

promises that it will be both the 
same newspaper and a different one. 

It will be the same in that, uniquely 
for Paris, it will continue to appear in 
the afternoon. It will keep its peculiar 
format, between tabloid and broad- 
sheet, known as BerUnois. It will con- 
tinue to eschew pictures in the main 
news section. 

Le Monde means the world, and 
the newspaper’s excellent foreign 
coverage will retain its pride of place. 
Its role as France's main newspaper 
of reference is likely to be strength- 
ened as it exploits its huge data base 
electronically. 

The new Le Monde will abandon 
some of the old newspaper’s “partic- 
ular signs” caricatured by its om- 
budsman, Audit Laurens, as “gener- 
al grayness, seriousness to the point 
of boredom, long articles, platitudi- 
nous headlines. 

Anne Chaussebourg, an assistant 


editor, said news would be dealt with 
more “homogeneously,” with eco- 
nomic news, for example, emerging 
from its “ghetto” at the back of Lhe 
paper. The typography will be clean- 
er. There mil be a more rigorous 
separation between fact and opinion 
or analysis. At last, there will be a 
ma g az in e to coax readers to buy Le 
Monde at the weekend. 

Lured away by television and a 
plethora of color weekly newsmaga- 
zines, far fewer French people buy a 
daily newspaper today than they did 
a generation ago. Combined circula- 
tion for the Paris daily press has 
declined to 3.2 million last year from 
4.2 million in 1 960. Le Monde’s share 
has declined to a little more than 
350,000 from almost 440,000 in die 
early 1980s. 

Winning back the lost reader is a 
constant headache for all newspapers 
here. The morning liberation, for 
example, recently abandoned its 
heavyweight format for a restless lay- 
out apparently designed to appeal to 
TV zappers. 

Le Monde, however, worries pe- 
rennially about losing its soul as well 
as its readers. It is partly owned by its 
more than 200 journalists, who elect 
the editor in chief in a process some- 
what akin to a papal conclave. They 
fret constantly about becoming too 
worldly and losing their indepen- 
dence m the face of market forces. 

But can a newspaper that lost 44 
million francs (58.3 milli on) last year 
on revenue of 1.075 billion francs, 
remain independent indefinitely? 
Colombani’s answer is no. Le 
Meade’s independence must be built 
on strong financial foundations. 

In an attempt to overcome the eco- 
nomic crisis that nearly strangled the 
newspaper in the mid-1980s, Le 
Monoe moved out of its elegant 
building near the Paris Opera to a 
renovated garage in a less ritzy part 
of the city. It opened to outside 
investors and institutions for the first 
time, and is abont to seek a fresh 
injection of capital But Colombani 
says that if it is to attract more funds, 
it must offer more in return. 

A major headache for manage- 
ment is the underutilization of the 
modem printing plant at Ivry, south- 
east of Paris. The newspaper cannot 



GSa Rtgcndo 

Le Monde says it will be both the same paper and a different one. 


find partners because few publishing 
concerns are interested in using Le 
Monde's unusual format. 

One exception is a new mo rning 
newspaper called InfoMatin whose 
“half-Berlinois” format, condensed 
style and relatively cheap price are 
designed fir a quick read on the M£t- 
ro. With its circulation of more than 
70,000, InfoMatin proved there are 
untapped sources of readers out there. 

Another cause of Le Monde’s crisis 
is the recessionary fall in advertising 
revenue, winch feu from 44 pe r c en t of 
turnover in 1989 to 23 percent in the 


first half of last year. As a result, the 
newspaper has had to increase its cov- 
er price to 7 francs from 5 in 1990. 

Le Monde is admirably painstak- 
ing abont accuracy, fairness, objec- 
tivity and a completeness that some- 
times fatigues the reader. But some 
say it has lost its critical edge. 

“There is no point in having inde- 
pendence unless you use it You can- 
not just sit back and report events. 
There are values to be defended,” 
Chaussebourg said, mentioning 
genocide in Rwanda and the civil war 
in Bosnia as examples of where she 


thought the newspaper had not taken 
strong enough positions. 

“We must be the newspaper oi the 
responsible citizen, the honest man,’ 
she said. “We want to appeal to peo- 
ple who are not selfish, who are open 
to values. We must come back to 

On the other hand, -f Le Monde is 
less passionately committed to 
causes than it was a generation ago. 
this may be no bad thing. Some crit- 
ics believe it lost credibility by flirt- 
ing with the likes of Khmer Rouge 
guerrillas, leftist Portuguese revolu- 
tionaries and the late Ayatollah Ru- 
hoJlah Khomeini. 

What Colombani wants to do is to 
polish up the standards of mordant 
analysis, trenchant opinion and de- 
tailed reporting laid down by Le 
Monde’s founding editor, the late 
Hubert Bcuve-Mfery, who retired 25 
years ago. 

Beuve-Mery, who started Le 
Monde immediately after the libera- 
tion of France with an initial circula- 
tion of about 140,000, imbued it with 
an almost monastic ideal of perfec- 
tion and le mot juste, along with a 
pervasive distrust of money. 

“We are poor.” he once said, “and 
we intend to remain that way.” As in 
Beuve-Mery’s time, Le Monde stiD 
holds its rapid-fire editorial confer- 
ence standing up. Perhaps in the eaiflft 
ly days it did not have enough money 
to buy chairs. Now it is a useful 
device for saving lime. 

Beuve-Mery believed a good news- 
paper needed to be concise, and nev- 
er published an edition of more than 
36 pages, slender by today's stan- 
dards. One of his last words of advice 
before retiring was “don’t make the 
newspaper too heavy.” 

■ ' In reforming Le Monde, its editors 
are acting on that advice in style and 
presentation, if not in the number of 


ft will continue, however, to ap- 
peal primarily to an active intellectu- 
al elite rather than a passive mass 
audience. An independent newspa- 
per in a complex, rootless world, 
Colombani says, must challenge its 
citizen readers as muen as it docs its 
journalists. In this respect, at least, 
the new Le Monde mil remain as 
high-minded as the old. 


WEATHER 


PEOPLE 


Europe 



Today 


Toraorrra 



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Forecast for Friday through Sunday, as provided by Accu -Weather. 



North America Europe Asia 

Wind and rain tram Tropical Madrid and Lisbon win have Rani ml move across east- 
Stoim Gordon affect the dry, warm weather Friday am China and into Japan 
Southeast coast Friday and Into the weekend. The British Friday. It wOl remain wet in 
Saturday. New York will Isles wfll be windy and mUd Japan Saturday, than clear 
have a few showers Satur- this weekend. A few showers out. Kang Kong will have a 
day. Chicago and Toronto will occur from Belfast to tew showers Friday into Sat- 
will have showers Friday. Glasgow. Pans and London urday as well. Singapore wB 
then dry. cool weather over wflj have dry, mild weather have a tow showers and 
■he weekend. California wifl later this weak. A afow-mov- thunderstorms while Manila 
SkBly have same showers. Ing storm wOl bring a soaking is generally ram-free, 
rasi Bo Turkey. 


Middle East 

Today Tomorrow 

»lpl Low W High Lew W 



OF 

OF 

OF 

OF 

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2170 

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Itanv 26*2 20/68 Sh 28*4 24/75 pc 

Mkmopok 0/43 3/37 an 8«0 -4/25 pc 

Monraai s»«a 0/32 pc n*2 205 pc 

Nassau 31/88 2373 pc 30.66 2373 pc 

Now York 13*5 6/46 c 18*4 10/50 pc 

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Legend; »-Mviy. pc^enty cloudy, ookxidy. sh-showers, t-ttUKtorstornw. rrato. sl-cnow hartes, 
an-snow, i-*», W-WeaCw. AH maps, forecasts and data provided by Accu-Weethar, Inc. c- 1994 


B RITAIN'S Prince Charles admitted to 
a group of trainee British Navy chefs 
that he can put a large group of people to 
sleep rapidly. He recalled how he had 
spiked a batch of bread-and-butter pud- 
ding he had prepared for his company 
aboard the HMS Norfolk while serving in 
the navy in the 1970s. He said he was so 
generous with the brandy that “the whole 
ship’s company fell asleep.” 

a 

What qualifications does the actor 
Charles Grudin bring to hosting a talk 
show? None, he says. “I have no qualifica- 
tions at all and we're very excited about 
that” Grodin is replacing Tom Snyder as 
host of the CNBC talk show. Snyder is 
moving to CBS as host of a show following 
“Late Show With David Letterman.” 

□ 

The Allman Brothers Band, A1 Green, 
Janis Joplin, Led Zeppelin, Martha & the 
Vandeflas, NeO Young and Frank Zappa 
will be inducted in January into the U.S. 
Rock ’n’ Roll Hall of Fame. “Billboard” 
writer Paid Ackerman was selected in the 
non-performer category, and the R&B 
band the Orioles was selected in the early 
influence category, the Hall of Fame 


Foundation announced. To be eligible, 
artists must have released a record at least 
25 years before the year of induction. 

□ 

Valfiry Giscard cTEstaing, 68, the former 
French president, unveiled Wednesday a 
novel he wrote about an avid hunter who 
falls in love at first sight with a young 
woman. "Le Passage 1 ’ was expected to 
raise eyebrows because the politician, who 
is also a hunter, seemed to imply in an 
interview with Le Figaro that the novel 
was based on personal experience. When 
asked, “Do you mean to say you lived the 
same story?” he replied: “No. . .not in lhat 
form.” The 232-page book has vivid ac- 
counts of lovemaking. Giscard d'Estaing 
said the idea for the book came after seeing 
a woman beside a road. 

□ 

David BaJdacri is on the move. Who? 
Last week, the 34-year-old Washington 
attorney stunned the publishing world bv 
selling his first novel to Warner Books for 
$2 million. Then he made another million 
in a movie deal with Castle Rock. The 500- 
page novel, “The Executive Power.” is due 
out in 1996. 



Val6ry Giscard <TEstaing. 


Pi’OiGu-'L Art 



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AUSTHIA-m. 

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HUNGARY* . ... 

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PHILIPPINES- 

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801-881-10 

SRI LANKA 

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8001-0010 

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080-90010 

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172-1911 

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177-100-2727 

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89138 

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0 800-0111 

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020-790-61 1 

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