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Heralb 


INTERNATIONAL 



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PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


** 


Paris, Thursday, November 24 , 1994 


No. 34,754 


Wall Street Looking at Wild End- of- Year Ride 

High Bates Draw Investors to Bonds, 

Leaving Stock Market Out in the Cold 


* 


V By .Lawrence Malkin 

InumaUonaJ Herald Tribune 

outlook is for 
wild days on Wall Street from now into 
the new year as investors in the bond and 
stock markets adjust to what they see as 
an overzealous Federal Reserve Board 
and . a spendthrift Congress. 

Wednesday was no exception after the 
sharpest decline this week since March. 

The Dow Jones industrial average 
dropped 32 points in the op ening min - 
, utes, then recovered slowly during the 
morning in heavy trading. The Dow 
closed 3.36 points lower, at 3,674.63. On 
Jan. 3, the first day of trading this year, 
the Dow stood at 3,756. 

Other market indexes here and abroad 
dropped after the Dow’s 3.6 percent 
plunge earlier in the week, a loss of 137 
points, 91 of them in the last hour and a 
half of trading Tuesday. The bright spot 
was bonds, with yields on 30-year gov- 
ernment braids faffing just below 8 per- 


vested in the Dow would have lost 2 
cents since the start of the year. 

This week, reality finally bit, and bond 
and stock prices diverged. Wall Street 
analysts cabled it a decoupling, but what 
happened was that it finally dawned on 
investors that safe Treasury bond returns 
were better than stocks. 

“A lot of investors believe that the 
Fed’s latest lightening risks a recession, 
or that it may be seduced into raising 
interest rates to the magic level that will 
create a recession, and that they are bet- 
ter off in an 8 percent bond that is about 
as dose to riskless as you can get," said 
Hugh Johnson of First Albany Securi- 
ties. 

He predicted that the Dow would have 
to drop another 150 to 250 points before 
stocks had an upside potential of 11 


cent for the first time in five weeks, and 
that was the key to the turn in the stock 
market 

The 30-year government Treasury 
braid price rose 1 to 94 29/32, to yield 
7.95 percent down from 8.04 percent on 
Tuesday. 

All year long, stock prices have blindly 
followed bond- prices, which fab when 
interest rates go up and rise when they go 
down. Returns rat bonds are fixed, 
the bonds themselves become mare valu- 
able when variable returns from other 
instruments — especially stocks — look 
less attractive. 

Because erf the Federal Reserve’s six 



The Dollar 

Ha* YmV 


Wed. does 


Dkr 


1.5566 


pmdousctaM 


1.5535 


Pound 


1.5699 


1.5691 


Yen 


98.455 


98.305 


FF 


5.3405 


5.3355 


percent or 12 percent at which point 
some investors would start to think it 


increases in interest rates ance February, 

rwyteM 


short-term Treasury-securities now ^ 

more than twice as muri* as the Dow’s 
blue-chips, even with their dividends re- 
invested as they are in most rnntrml 
funds. On price alone, every dollar in- 


was worth switching out of bonds. 

That might take months of slow, ago- 
nizing dedmes in a bumpy, volatile stock 
market until the Dow found its way 
down to about 3,300 or 3,400, said Rob- 
ert Walberg of MMS International- He 
added that one reason for the slow de- 
cline is that investors who have bought 
an market dips since the 1987 collapse 



UN Mission in Doubt 


As Serbs Retaliate 


After NATO Planes 


Attack Missile Sites 


By Roger Cohen 

New York Times Service 


See MARKET, Page 2 


Henm Rs> Abram* Agracc Fraace-Pme 

A trader on the floor of the New York Stock Exchange watching a monitor 
Wednesday, when share prices began to stabilize after a two-day slide. 


Clinton Strikes a Deal With Dole on Trade Accord 


[ - By Paul F. Horvitz . 

_-’L ‘ 'haermibmd fferidd Tribune 

. . WASfDNGTON r-.Aftec weeks of pri- . 
vafgtaflk^ 8$ CfintOh, Strock a 

deal Watoesda^ wfh SenhtoriBob Dole in 
an effort to p an, congressional ratification 
of the GAT T gobBt trade Ebenrtizatioa 
agreement. - .. 

At its heart, the deal gives Congress, 
soon to be controbed by Republicans, a 
larger voice imnonitoringTJ.S. standing in 
the international trade arena; 


Specifically, Mr. Clinton agreed to the 
creation erf a special U.S. review panel that 
would trigger a congressional vote to with- 
draw from the trade agreement if the- panel 
judges as arbitrary any three rulings from a 
aw international trade tribunal. The pres- 
ident could still veto the measure. 

In return, Mr. Dole, the Republican 
leader in die Senate, agreed to recommend 
to his fellow senators mat they approve the 
trade accord. 

. “We’ve fixed this as much as we can,” 


the senator said. Supporters of the trade 
accord predicted ratification. 

Long a free-trade advocate. Mr. Dole 
wavered in recent *=eks while pressing the 
White House for political concessions. Al- 
though he urged the president to support a 
cut in the capital-gains tax rate, the White 
House promised rally to review the idea. 

The president’s announcement ap- 
peared to be the keystone for U.S. ratifica- 


tion of a treaty that would sharply reduce 
It took 


yean of negotiations to seal the global deal 
under the auspices of the 124-nation Gen- 
eral Agreement on Tariffs and Trade,. or. 
GATT- 

Ahhough the While House believes Mr. 
Dole’s support is pivotal and will secure 
passage, there is no guarantee of final 
ratification. Intensive lobbying by interest 
groups is expected to continue. 

It is also possible that conservative Re- 


import tariffs worldwide. 


seven 


See GATT, Page 6 


ZAGREB, Croatia — NATO warplanes 
swept over northwestern Bosnia on 
Wednesday, bombing three missile sites 
held by rebel Serbs in two raids that took 
the Atlantic alliance a step further into the 
Bosnian war. 

The Bosnian Serbs responded by block- 
ading hundreds of United Nations person- 
nel in weapons-coHection sites around Sa- 
rajevo ana stopping ab movement in 
Bosnia by UN military observers. 

The NATO attacks by more than 50 
U.S^ British, French and Dutch aircraft 
came as Serbian forces pressed forward 
relentlessly in their offensive against Bi- 
hac, entering the UN-declared “safe area” 
comprised of the northwestern Bosnian 
town and its immediate surroundings. 

A state of extreme tension, bordering on 
a state of war, appeared to exist between 
the Serbs and the more than 23,000 UN 
peacekeepers in Bosnia. Indeed, the future 
of the peacekee ping missi on bimg in the 

balance as the North Atlantic Treaty Or- 
ganization pondered further bombing 
raids. (Page 2) 

In Brussels, NATO ambassadors dis- 
cussed with what one described as “some 
urgency” contingency plans for an eventu- 
al withdrawal of UN peacekeepers. These 
plans are believed to involve die deploy- 
ment of at least two divisions, or about 
20,000 NATO troops, to cover a withdraw- 
al 

The chief UN envoy in Bosnia, Yasushi 
Akashi, said Wednesday that he bad 
worked out a peace deal for Bihac with 
President Slobodan Milosevic of Serbia 
and a Serbian leader whose forces are 
attacking the enclave. 

Mr. Akashi said that he would put the 
proposal to Croatian, Bosnian Muslim and 
Bosnian Serbian leaders in an attempt to 
halt the fighting. He did not give details, 
but said there was agreement to allow a 
supply convoy to set out on Thursday to 
reach more than 1,000 Bangladeshi UN 
troops stranded in the Bihac enclave with- 
out weapons, food or medical supplies. 

A senior UN official said the United 
States was pressing hard for a new wave of 
NATO air attacks in and around the Bihac 
pocket to stop the Serbian offensive, which 


came in response to an attack last month 
by the Mushm-led Bosnian Army in which 
dose to 10,000 Bosnian Serbian civilians 
living east of Bihac lost their homes. 

The U.S. ambassador to Croatia, Peter 
Galbraith, briefed Mr. Akashi to this ef- 
fect, the UN official said. 

“The idea is for a massive air campaign 
that would initially destroy all the anti- 
aircraft artillery and nnssBe sites held by 
Bosnian and Croatian Serbs in the Bihac 
area,” he added. 

A senior U.S. official confirmed that the 
Clinton administration’s view was that 
: must now be done to 


evi 


prevent Bihac from being overrun.” 

“We have Serb troops within the safe 
area on the southern edges erf Bihac,” Ed 
Joseph, the chief UN civilian official in the 
Bihac area, said in a telephone interview. 
“They have fought thdr way in through 
Zavalje, and the area just south of Bihac is 
really very decimated. Refugees are 
streaming in from the villa ge s.” 

While the NATO bombing Wednesday 
was substantial, it did no thing to resolve 
the crisis in Bihac, an isolated, mainly 
Muslim pocket held by Bosnian govern- 
ment forces since the b eginning of the war. 

The bombing raids, made in response to 
Bosnian Serbian missile attacks on Tues- 
day against two British aircraft flying 


NATO patrols, targeted missile sites at 
a. Otoka 


and Dvor, a 


Bosanska Krupa, 

NATO statement said. 

The three towns lie within a 50-kilome- 
ter (31-mile) radius northeast of Bihac, the 
first two in Bosnia and the third just over 
the border in a pan of Croatia held by 
Serbs ance the Croatian war of 1991. 

NATO officials said that in the first 
raid, made up of 24 aircraft, anti-radiation 
HARM missiles were fired at the missile 
batteries but only destroyed the tracking 
radars. In a second sortie by 30 aircraft a 
few hours later, the Serbian surfacc-lo-air 
missiles at Otoka were hit 

It appeared that Britain, France and UN 
military commanders here had come 
around to acceptance of the U.S. view, 
unless the Serbian offensive can abruptly 
be brought to a halt. “The political mo- 
mentum for further air strikes seems over- 
whelming,” said Mr. Akashi’s spokesman, 
Michael Williams. 



By Alan Cowell 

..Mew [York Tunes Service 

ROME — Seeking to regain the initia- 
tive in his battle with magistrates investi- 
gating him for corruption. Prime Minister 
iilvio Berlusconi threatened Wednesda y 


his restive coalition partners 
complete support 

He also pledged, to sell parts erf his vast 
business empire. .... 

The Italian, leader raised the stakes m his 

confrontation with the Milan investigators 
by saying he had a “contract with the 
voters” and was prepared to Quit “if the 


government cannot take the measures 
needed in the interest of the country.” 

“What I won’t allow is a repetition of 
the stories of the old republic, when voters 
were forgotten, and politicians did deals 
over the heads of the electorate,” he said. 
“In that case I would ask for a return to the 
ballot box.” 

While Mr. Berlusconi has spoken before 
about distancing himself from his private 
businesses, the offer to sell part of his $7 
biffion-a-year Fininvest empire and to 
float his three commercial televirion chan- 
nels on the stock exchange came in a highly 
charged political climate just one day after 


the Italian leader was served with ajudidal 
notice saying he was under investigation. 

“I have decided to sell my companies 
and to float the television sector on the 
stock exchange,” Mr. Berlusconi said at a 


news conference in Naples, where he had 
INatio 


been hosting a United Nations conference 
on crime. 

“I am thinking of keeping a share, but 
that wi& not be a majority stake,” he said 
The developments came as corruption 
investigations into Mr. Berlusconi's pri- 
vate business dealing s threatened to widen 


See ITALY, Page 6 


U.S. Spirited Uranium Out of Kazakhstan 


By R. Jeffrey Smith 

Washington Post Service 

WASHINGTON — In a secret opera- 
tion intended to thwart potential nuclear 
terrorism in the former Soviet Union, the 
United States sent a team of nuclear engi- 
neers and military personnel to a poorly 
guarded warehouse in Kazakhstan last 
month to ir atrh enough highly enriched 


Kiosk 


A Top Tory Trips 

Over His Tongue 


. LONDON —The deputy chairman 
of the Conservative 
choDs. leagued under fire Wednesday 
over an article in which he scathingly 
criticized France and Germany. 

Writing in the Western Morning 
News, he described 
“unique contribution as two wona 
wars>d said Frwce >s P™™i 
itself incapable of winning any ™ 
unless itis fought by the French For-, 
eign Legion.” (AFP, Reuters) 


u ranium to manufacture 25 nuclear weap- 
ons. 

“We have put this bomb-grade nuclear 
material forever out of the reach of poten- 
tial bl ack marketeers, terrorists or new 
nuclear regime,” Defense Secretary WIU* 
Ham j. Ferry said at a Pentagon news 
conference Wednesday. 

“Now it is secures,” be added. 

The operation, conducted under the 
code name Project Sapphire with the 
knowledge and approval of the Kazakh- 
stan government, marks the first occasion 
in which Washington has collected fissile 
materials from the territory of a former 
Soviet republic and brought them to the 
United States to be rendered unusable in 
nuclear weaponry. 

To do so, the administration had to 
overcome numerous legal, and po li ti cal 
hurdles, including negotiating a purchase 
price with Kazakhstan, winning the ap- 


proval erf Moscow, smoothing over a bu- 
reaucratic argument over which agency 
would pay for the material and overcom- 
ing initial opposition by the governor of 
Tennessee, where the material is now in 
storage. 

After several weds of processing by 
engineers, the material was picked up last 
weekend from a nuclear facility in Ulba, 
Kazakhstan, a remote mountain city 1,300 
Kilometers (800 miles) northeast of. the 
ritaL, Alma-Ata, and placed aboard two 


The planes were flown to Dover' Air 
Force Base in Delaware, after making sev- 
eral stopovers in countries that were ini- 
tially wary of allowing the planes and their 
dangerous cargo to land. 

A third C-5 cargo plane brought back 
the engineers and equipment used to pack- 
age the uranium at the reactor fuel rod 
See SNATCH, Page 2 


Israel Denies It’s Ready to Quit the Golan 



Compiled by Ota Staff From Dispatches 

DAMASCUS — Israel denied a re- 
port Wednesday that it was ready to 
withdraw fully from the Golan Heights, 
which it captured from Syria in 1967. 

President Carlos Saul Menem of Ar- 
gentina said at the end of a visit here that 
he had delivered a letter to President 
Hafez Assad of Syria from the Israeli 
foreign minister. Shimon Peres, indicat- 
ing Israel’s willingness to pull out 

“Peres gave me a message to President 
Hafez Assad expressing Israel’s readi- 
ness to withdraw fully from the Golan 
for the sake of promoting peace in the 

rmnnrr ” Mr Xf metm mid at a nears con- 


KhaM Zjhnri/Reuw* 


A masked Palestinian brandishing a pistol Wednesday during a rally in the 

to support Yasser Arafat, the PLO chairman. 


region,"’ Mr. Men cm said at a news con- 
ference. 

Mr. Peres immediately denied Mr. 
Menem's version. 

“This is not my position, and so I 
could not send a message like this,” the 
Foreign Ministry spokesman, Danny 
Shek, quoted Mr. Peres as saying. 

“What I said to Menem is what I also 
say in Israel: We mil not accept the 
Syrian opening position concerning full 
withdrawal from the Golan Heights,” 
Mr. Peres said. 

The Golan Heights, which Israel 
seized in 1967 and annexed 14 years 
later, would soon return to Syria, Mr. 
Menem predicted. 

Hie timetable and extent of an Israeli 
withdrawal from the Golan have been 
among the mam stumbling blocks in 
contacts between Israel and Syria since 
the Middle East peace process was begun 
in October 1991. 

Syria insists on a total pullout in re- 
turn for peace, while Israel has so far 


West Bank town of Jericho 


See GOLAN, Page 2 


As London Crumbles and Cracks , the Grumbling Grows Louder 


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By William £. Schmidt 

New York Tunes Service 

LONDON — Westminster Bridge is fatting down, 
or would be if engineers had not just embarked on a 
project to shore it up. Across town, near Soane 
Square, one of the Victorian-era iron beams support- 
ing the roof of the Underground station is cracked, 
tatting trains to crawl through at 15 miles per hour. 

Even Big Ben isn’t standing as tall as it used to. Last 
month, engineers reported the 135-year-old dock tow- 
er was listing just over a 10th of an inch, a slight t3t 
that some experts believe is related to nearby tunnel- 
ing for a rafl line extension. ' 

it was Dr. Samuel Johnson who said that when a 
man is tired of London, he is tired of life. But these 
days, as the Sunday newspaper The Observer noted 
recently, when a man Is tired of London, he may have 


gnun- 


“London is like a piece of Gruy&re cheese,* 
hied Geny Brerman as his taxicab crept past Bucking- 
ham Palace, where workers dosed fanes to tear up 
sidewalks. “There are holes everywhere. If hole dig- 


ging were an Olympic sprat, I can tell you this: Bri tain 
would win the gola n 


medal every time.” 

Anyone who has lived within commuting distant 
of New York or Tokyo or Paris knows that grousing 
about traffic and detours is just part of the usual 
background static. 

But in London’s salons and boardrooms, in the 
tetter columns and front pages of its newspapers, the 
grumbling has buflt to a kind of crescendo. 

“London is crumbling under the strain of modem 
living, and troubleshooters are fatting to keep it from 
falling apart,” declared a special report broadcast this 
month on London’s Capital Radio. “Roads are col- 


able of foreign capitals: safer, cleaner, more intimate 
than most Yet the same things that charm tourists — 
narrow streets, ancient buildings and quaint plumbing 
— frustrate Londoners since so much of the city, at 
any one moment seems to be either broken or under 
repair. 

Movement for London, a public interest group that 
campaigns on behalf erf transportation estimat- 

ed recently that more than two million holes are dug 
each year in London roads by any one of 17 utilities 
and public agencies, which, (o make matters worse, do 
not always coordinate their construction schedules. 

As a result, these critics complain, the city’s traffic 
pattern has increasingly been turned into an ever- 
changing labyrinth of detours, roadblocks and one- 
lane roads. 


terminals suddenly began to disappear last month, 
when nearby tunneling for a new high-speed rail line 
caused them to sink. 

Some critics argue that the problem is complicated 
because London, alone among the major cities of the 
world, does not have its own central, elected govern- 
ment to oversee and coordinate activities. 

Since the Greater London Council was abolished in 
1982 by Prime Minister Margaret Thatcher, who saw 
it as a redoubt of profligate socialism, the administra- 
tion of the metropolitan area has been balkanized 
among 33 boroughs and local governments, five de- 
partments of the national government and 60 boards 
and committees. 

Stephen O’Brien, the chief executive of London 
First, which seeks to lure investors and businesses to 


a good reason. The capital itself seems to be sagging, lapsing, bridges are bending and buildings subsiding.'’ their own. At Heathrow Airport, a parking lot and 
gndJocked and constantly under repair. For many tourists, London is still the most agree- office building alongside one of the main pass eng er 


There are other holes, too, appearing entirely on Loudon, says the disruptions and repairs are the price 


See CRUMBLE, Page 6 


■ 1 


'V ' 1 






INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 24, 1994 


** •- 



Victory Breathes New Life Into Conservative Ideologists 


WORLD BRIEFS 


j- 


By Robin Toner 

New York Times Service 

WASHINGTON — Only 
two years ago the hottest think 
tanks, the most sought-after 
strategists and the most visible 
political organizations ’were the 
ones devoted to charting bold 
new directions for the “New 
Democrats.'' 

No more. 

The hot strategists in Wash- 
ington today are those who 
hoped think the conservative 
movement back to power and 
are now happily meeting, plan- 
ning and networking on how to 
use that power in the next two 
years. 

They are consumed with the 
grand task of building an en- 
during conservative majority: 
by reclaiming the tax issue, us- 
ing the energy of conservative 
Christians, capitalizing on the 
politics of values and, perhaps 
most of a 0, stoking anger to- 
ward big government and the 
appetite for rolling it back. 

Since Section Day, the na- 
tion's capital has been in thrall 
to this new conservative ascen- 
dancy, or Reagan DL, as some 
conservatives call it. 

The Heritage Foundation has 
reclaimed its 1980s glow. The 
world view of Representative 
Newt Gingrich of Georgia, the 
House speaker in waiting, is 
now parsed and pored over by a 
city of political professionals. 

William Kris to I. the conser- 
vative strategist who long pre- 
dicted that health care plans 
would be the Democrats' Af- 
ghanistan — “not a threat but 
an opportunity for us” — has 
acquired the status of all-pur- 
pose seer. 

And the “Contract With 
America,” the House Republi- 
cans' list of campaign promises 
from tax cuts to term limits, is 
now considered a Baedeker to 
the 104th Congress. 

In the House, which has be- 
come ground zero for the revo- 
lution. Mr. Gingrich, Represen- 
tative Dick Armey, the 
incoming majority leader, and a 
handful of other members are 
scrambling to prepare for the 
first 100 days. Away from Capi- 
tol Hill, several strategists are 
thinking further with the new 
political calculus. 

For those seeking to adjust to 
the transition, — or, as some 




William Knstol ■ Grover Norquist ■ Ra.pli Pcpd 


Project for the 

Republican 

Future 


Americans for 
Tax Reform 


Christian Coalition Empower America Empower America 


The Heritage 
Foundation 


Republicans put it, the “trans- 
formation” — what follows is a 
sampling of conservative strate- 
gists to watch: 

• William Kristol, head of a 
political group. 

At 41, Mr. Kristol already 
has a long conservative pedi- 
gree, as the son of the commen- 
tator Irving Kristol and a for- 
mer top aide to William J. 
Bennett, ex-secretary of educa- 
tion, and former Vice President 
Dan Quayle. But Mr. Kristol 
rose to new prominence over 
the last two years by writing a 
series of widely circulated mem- 
orandums that challenged the 
conventional wisdom on health 
care. 

Mr. Kristol played heretic, 
arguing against the idea that 
there was, in fact, a health care 
crisis; he also urged Republi- 
cans to resist any attempts at 
making a grand compromise 
with the Democrats on the is- 
sue. 

“I never thought we faced an 
inevitably dominant resurgence 
of liberalism,” he said, then and 
now. “I always thought ’92 was 
a rejection of Bush, not an en- 
dorsement of activist govern- 
ment" 

A Ph.D. in government from 
Harvard who left a career in 
academia, Mr. Kristol is chair- 
man of a political group known 
as the Project for the Republi- 
can Future and is a longtime 
believer in “limited govern- 
ment" 


He sees the next two years as 
crucial to laying the ground- 
work fora Republican return to 
the White House. At the risk, he 
says, of offending more pure- 
minded conservatives, he ar- 
gues that the party needs to 
“build for the long haul” on 
Capitol HOI and “shed the mi- 
nority mind-set of let's do ev- 
erything we can all at once.” 

• Grover Norquist, an ally of 
Representative Newt Gingrich 
and foe of new taxes. 

If there was one issue that 
tormented conservatives in 
their 1992 electoral debacle it 
was taxes; specifically, watch- 
ing their party lose its image as 
the anti-tax party after Presi- 
dent George Bush broke his 
“read my lips” pledge and 
signed on to the 1990 budget 
agreement To Mr. Norquist 
this was simple heresy — then, 
now and in time to come. 

Mr. Norquist president of 
Americans for Tax Reform, is 
part of the Gingrich/ Armey 
network on Capitol HID and is 
considered an expert on popu- 
list anti-tax movements. Since 
the late 1980s, his organization 
has been circulating pledges 
among candidates, asking them 
to forswear new taxes; 18S in 
the new House and 28 in the 
Senate have now signed them. 

“The tax issue is the central 
divide between the two par- 
ties,” said Mr. Norquist, 38. 
“That's the centerpiece: The 
Republican Party is saying, ‘No 


to 


. power 
iff the spig- 


more money and 
Washington, turn oi 
ot.’ And the Democratic Party 
is saying, ‘No, no, more money 
and more power.’ ” 

• Ralph Reed, Christian Co- 
alition leader and family advo- 
cate. 

Tony Blankley, spokesman 
for Mr. Gingrich, said this 
week: “The organized Christian 
vote is roughly to the Republi- 
can Party today what organized 
labor was to the Democrats. It 
brings similar resources: peo- 
ple, money and ideological con- 
viction." 

Mr. Reed, executive director 
of the Christian Coalition, is 
widely credited with bringing a 
new political sophistication to 
this crucial segment of the par- 
ty. 

Mr. Reed says he saw the 
challenge of the past two years 
as bridging the gap between, the 
Republican Party's economic 
conservatives and those more 
oriented to the social and moral 
issues, like many of his constit- 
uents. 

Both welfare reform and tax 
relief for middle-class families 
were issues that connected “the 
great divide,” he said. In sur- 
veys of Christian Coalition 
members, “We’ve found these 
voters are hungering for a 
broader agenda that addresses 
the financial strain on the fam- 
ily as well as moral pressures.” 

Looking ahead, Mr. Reed 
says he is keenly aware of the 


dangers of overreaching, espe- 
cially on issues like prayer in 
the school 

“Social change proceeds m 
America with deliberate and 
slow steps,” he said. “Our de- 
sire to restore the centrality of 
the family will take place over 
decades, not years.” 

• William Bennett, former 
education chief who writes on 
values. 

Mr. Bennett, the former edu- 
cation secretary who took to the 
campaign trail this year for an 
array of candidates, said he was 
utterly clear on the meaning of 
this election. 

“It was about hunted govern- 
ment, about the end of the nan- 
ny state,” he says. It was about 
beginning to reverse “the dis- 
charge of responsibilities from 
families and communities and 
local governments onto the fed- 
eral government,” and reviving 
personal responsibility. 

After the 1992 Republican 
National Convention, many an- 
alysts believed that the cam- 
paign for traditional values had 
proven too divisive, too danger- 
ous to inject into mainstream 
politics. Mr. Bennett said that 
all that was proven was this: 
“Using the values issues as a 
club and stick, that’s not right.” 

With his best-selling book, 
“A Book of Virtues,” and his 
writing and speaking, Mr. Ben- 
nett did much to revive these 
issues in the past few years. 

“Why did it come back? Be- 


cause that's what it's all about,” 
he said. 

Mr. Bennett added that this 
new conservative ascendancy 
“won't work” if lawmakers am- 
ply cut programs for the poor 
“but middle-class subsidies re- 
main the same.” 

Mr. Bennett is a co-director 
of Empower America, a conser- 
vative political group. 

• Vat Weber, a former law- 
maker and friend of Mr. Ging- 
rich. 

Another co-director of Em- 
power America, Mr. Weber is 
also a longtime friend and for- 
mer House colleague of Mr. 
Gingrich’s. After serving six 
terms as a representative from 
Minnesota, including a stint in 
the Republican leadership, Mr. 
Weber announced his retire- 
ment in 1992. 

Mr. Weber, who was chair- 
man of the Jack Kemp for Pres- 
ident campaign in 1 988, de- 
scribes the challenge of the next 
two years as nothing short of 
“replacing a 60-year-old frame- 
work for problem-solving with 
a new framework for problem- 
solving” — one less centralized, 
less bureaucratic. 

• Kate O’Beime, vice presi- 
dent for government relations at 
die Heritage Foundation. 

Mis. OTteinie describes her- 
self as immersed in the “mar- 
keting” of conservative propos- 
als. Among them is a S500-per- 
chDd tax credit for families, 
which was embraced by the 
“Contract With America.” 

The Heritage analyst says 
that the promise of such tax 
cuts helps build the constituen- 
cy for reducing the size of the 
government, “actually getting 
rid of the progams that we 
learned in the '80s are darned 
tough to oil” 

Mrs. O’Beirne, who first 
came to Washington in the 
1970s with Senator James 
Buckley of New York, and later 
served as a deputy assistant sec- 
retary at Health and Human 
Services under President Ron- 
ald Reagan, added that this new 
conservative insurgency has an 
edge over the last. 

“We have resources that we 
didn’t have in 1980,” she said. 
“We bad no infrastructure in 
1980. Now, there's a network; 
there’s Reagan alums and Bush 
alums all over town, and they 
have substantive expertise.” 


Bogota to Shield Traffickers’ Wealth 

BOGOTA (Reuters! — Ignoring government warnings that. 

congressional committee have approvoda bjN kunderer* 

much harder to prosecute narcotics dealer* 
and corrupt officials. The bill is virtuiffiy 
The measure, known popularly as the narco bill becaua rf 
the benefits it allegedly offers traffickers, makes it vutcally 
impossible to provculSt enrichment — tkeenmeon 
runners, money-launderers and pilfering government officials are 

most commonly convicted. . c rf -. 

In a country where few are ready to testify against traffickers, 
because of the risk of reprisals, crimes such as ru nnin g drugs or , 
paying bribes are almost impossible to prove. Illicit e nri c h m e nt 

has been easier to prosecute because the accused xs found gButy if • 

he fails to prove ms wealth is Legal. 

136 Nations Vow to Curb Mob Activity 

NAPLES (AP) — Branding or ganized crime a threat to national- ' 
security, 136 countries pledged Wednesday to unite in more' 
sophisticated and coordinated combat against mobsters, especial- - 
fy to foil money-laundering. 

The three-day United Nations conference; grouping ministers • 
and police officials from countries plagued by mobsters as well as " 
nation s c onsi dered havens for their huge wealth, was the most 
ambitious political attempt yet to catch up with organized crime. 

Most significantly, countries with reputations for having few 
regulations on movement of money went on the record about the' - 
need to make it a c riminal offense to launder profits from drag 
and arms trafficking, extortion, prostitution and other mob busi- 


nesses. 


Nepal Communists Disdain Coalition 

KATMANDU, Nepal (Reuters) — Nepal’s jubilant Commit 
nists unanimo usly elected a veteran anti-monarchist, Man Mohan 
Adhikaiy, as their parliamentary leader on Wednesday and awah- . 
ed word from King Birendra to form a minority government. 

Covered in vermilion powder and garlands, and standing be-' 
neath portraits of Marx and Lenin, Mr. Adhikaiy said there was 
no possibility of forming a coalition government after general 
elections last week left a hung Parliament. But Mr. Adhikaiy said . 
that, once several technicalities had been cleared, he would see the' 
king, whose father once jailed him, to be appointed Nepal’s next 
prime minister. 

“For us, there is no room to have a coalition,” Mr. Adhikaiy 
told colleagues at the Communist Party of Nepal Unified Marxist- ~ 
Leninist. The Nepali Congress Party of the caretaker prime 
minister, Girija Prasad Koirala, however, left the door open to 
forming a coalition government in an ambiguous statement issued 
after a meeting of its top policy-making committee. 

Stampede Kills 120 at India Protest : 

NEW DELHI (AP) — At least 120 people were reported killed 
and 500 injured Wednesday in a stampede when the police 
charged thousands of tribal protesters in a central Indian city. The 
Press Trust of India news agency said the dead included 75 women - 
and 24 children. 

The violence began when 30,000 tribal protesters demanding 
job quotas in government service tried to break through a police r 
cordon about a kilometer from the Maharashtra state legislature ‘ 
building in Nagpur, where the legislature is bolding its winter 
session. 

The police, wielding canes, charged the protesters to prevent 
them from reaching the building. A stampede ensued, according; 
to the United News of India. 



MARKET: A Wild Ride Ahead? 


Continued from Page 1 

have made money, and they wilt 
come back in again. 

But Mr. Walberg saw the 
downward pressure on the mar- 
ket as inexorable because he 
does not expect prices to rise 
much more. He said, “We are 
going to have long-term rates at 
8 percent or better because the 
economy will remain strong, 
and the Fed will be vigilant be- 
cause it is faced with a new 
Congress that wants to lower 
taxes and not do anything 
about the deficit.” 

These twin economic and po- 
litical uncertainties are expect- 
ed to keep all financial markets 
volatile and risky into the new 
year — and not just in New 
York. A recent study by the 
International Monetary Fund 
found that 10-year bonds in all 
major countries move in almost 


complete 
►ffr 


4 synchronization. 
Geoffrey BeU, who runs a New 
York financial consultancy, 
said that the worldwide stock 
market reaction to a bond-in- 
duced turn in New York dem- 
onstrates the force of this obser- 
vation. 

Which leads to Wall Street’s 
potential effect on the dollar. 
Mr. BeU thinks that good bond 
yields in New York will bring 
foreign investors back into dol- 
lar bonds because Wall Street 
has the world’s deepest and 
most liquid markets, but it also 
means that high bond yields 
here and elsewhere will be a 
worldwide economic drag. 

On the New York Stock Ex- 
change, oil, drug and chemical 
issues led Wednesday’s declines 
on concerns of lower corporate 
earnings growth, traders said. 


U.S. Wants Tougher Response in Bihac 


TRAVEL UPDATE 




By Michael R. Gordon 

New York Tinas Service 

WASHINGTON — The United 
States has proposed stiffer military ac- 
tion and expanded use of air power to 
protect the beleaguered area of Bihac in 
northwest Bosnia. 

The steps suggested by the United 
States include bombing strikes against 
ethnic Serbian forces in Bosnia and Cro- 
atia that are attacking Bihac, which is 
near the Croatian border. 

Other steps include giving NATO jets 
permission to chase planes into Croatia 
and shoot them down if they violate the 
“no-flight” ban over Bosnia. Allied 
planes would also be allowed to launch 
preemptive attacks against Serbian anti- 
aircraft defenses that threaten NATO 
aircraft 

The United States is still pushing for 
the establishment of a weapons-exclu- 
sion zone around Bihac, much would 


extend about 10 kilometers from the city. 
Serbian tanks, artillery and other heavy 
weapons that violated the zone could be 
attacked by NATO warplanes. 

But Western European nations have 
yet to agree on whether to take further 
military action, leaving the fate of the 
American proposal unclear. 

“We are pursuing ways to prevent the 
collapse of Bihac by using air power in 
support of UN safe areas,” a Clinton 
administration official said. “There is a 
menu of options to stabilize the situa- 
tion, and we are exploring these ideas 
with our allies." 

In terms of policy, the aim of the plan 
would be stop the Serbian advance on 
Bihac and discourage Croatia from en- 
tering the war. In military terms, it seeks 
to move NATO beyond the series of 
pinprick attacks that have characterized 
its response to the war in Bosnia. 

Washington also wants its allies to 


agree in advance on the “triggers.” or 
actions thai would be considered suffi- 
cient to prompt specific NATO military 
responses. 

These could include an advance to- 
ward Bihac by Bosnian or Croatian 
Serbs that went beyond reclaiming lost 
territory, sizable artillery strikes on the 
town and a “strangulation” of Bihac that 
deprived its residents of food and needed 
supplies. 

The aim of defining these triggers in 
advance would be to expedite NATO 
military action. One serious concern for 
Washington is that the Bosnian and Cro- 
atian Serbs may surround and take up 
positions on the outskirts of the town 
before Western European nations feel 
impelled to act, leaving the Muslims in 
Bihac in an untenable position. 

Western European nations have been 
less alarmed than Washington about the 
plight of the Muslims in Bihac. 


Some French Rail Service Disrupted 

PARIS (Reuters) — Strikes called by major labor unions to 
promote the rights of public-service workers disrupted some of 
France's rail service Wednesday, officials said. 

All TGV high-speed trains ran normally but only a third to a 
half of ordinary trains ran in western and southern France.’ ; 
Service was unaffected in the north and east of the country, 
authorities said. About 90 percent of trains ran normally on 
Paris’s Mtao subway system and its sister RER regional commut- 
er line. Bus services in the capital were little affected. 

Truck drivers blocked a Pofisb-Gennan border crossing for a 
day to protest long customs clearance procedures on the German . 
side, officials said. The blockade broke up Wednesday and negoti- ■ 
ations started. (AP) 

Bering's wide boederards are packed with more than 800,000' 
can and 8 million bicycles, in sharp contrast to the empty 
thoroughfares of 10 years ago. The number of motor vehicles 
registered in Bering increased by 100,000 in the past year and is 
expected to top 1 million soon, the Bering Traffic Control Bureau 
said. (AP) 

Britain advised travelers to avoid Gambia, saying the situation 
there had deteriorated since a coup in July. (Reuters) 


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GOLAN: Israel Denies Report on Willingness to Leave SNATCH: U.S. Spirited Uranium Out of Kazakhstan 


Gontimied from Page 1 

proposed a phased withdrawal 
over five years without specify- 
ing its scope. 

Mr. Menem, whose parents 
come from Syria, said Mr. Peres 
had given him the message dur- 
ing a recent meeting at the 
United Nations. 

Israel’s public position has 
been that it would be willing to 
make a limited withdrawal 
from the Golan Heights. Israel 
says it will not discuss a with- 
drawal in detail until Syria 


m 

The Associated Press 

PARIS — Taslima Nasrin, 
the Bangladeshi writer threat- 
ened with death by radical Is- 
lamic fundamentalists, began a 
10-day visit to France on 
Wednesday under tight securi- 
ty, including round-the-clock 
protection by an elite police 
unit- 


makes clear that peace with the 
Jewish state will mean full ties 
and open borders. 

Syria demands a full with- 
drawal in exchange for what it 
calls “normal relations” with its 
southern neighbor. 

The future of the strategic 
Golan Heights has blocked a 
peace deal between Syria and 
Israel for more than three years. 

Mr. Menem said that he had 
given the message to Mr. Assad 
and that Foreign Minister Fa- 
rouk Sbara of Syria had been 
present 

“I am snre that through the 
wise leadership and efficiency 
of President Assad, the lands 
would be returned,** Mr. 
Menem said. 

Mr. Menem noted that obsta- 
cles remained and that mare 
efforts should be exerted to 
reach peace. 

“As to how the obstacles 
would be removed, this is the 
mission of the parties con- 
cerned and the international 


bodies and organizations,” he 
said. 

President BiQ Clinton held 
talks with Mr. Assad in Damas- 
cus last month and said that 
“some progress” had been 
made along the Israeli -Syrian 
peace trade. No details were 
given. 

Mr. Menem said Argentina's 
role was a minor one but added 
that he had also arranged meet- 
ings between Mr. Peres and 
Yasser Arafat, the Palestine 
Liberation Organization chair- 
man, which contributed to their 
peace pact last year. 

Argentina, Mr. Menem said, 
was ready to send peacekeeping 
troops to monitor a peace 
agreement between Syria and 
Israel. 

He also said his country was 
ready to contribute troops to a 
UN force once Syria and Israel 
made peace. Argentina will take 
over the presidency of the UN 
Security Council at the end of 
January. ( Reuters, AFP) 


Contmoed from Page 1 

fabrication plant in Kazakh- 
stan. After arriving in Dela- 
ware, the material was trucked 
on Monday and Tuesday to 
Oak Ridge National Laborato- 
ry, in Tennessee. There it is to 
be blended with low-enriched 
uranium and fabricated into 
fuel rods for civilian nuclear re- 
actors, officials said. 

The Clinton administration 
declared in September 1993 
that it was prepared to “pursue 
the purchase of highly enriched 
uranium from the former Soviet 
Union and other countries and 
its conversion to peaceful use” 
as a way to prevent any illicit 
sale or theft of the material. 

The initiative left the door 
open for the Kazakh govern- 
ment to approach the U.S. am- 
bassador in Alma-Ata, W illiam 
H. Courtney, in February with 
a quiet offer to sell Washington 
an estimated 600 kilograms of 
weapons-grade uranium being 
stored in UTba. 


According to a source privy 
to the reports of U.S. officials 
sent to investigate Kazakh- 
stan’s offer, the material was 
being stored in a warehouse 
“with a big padlock like the 
kind yon see on Saturday morn- 
ing cartoon shows.” 

Another official said: “We 
had substantial concern about 
their ability to safeguard it and 
a strong interest in getting this 
out of there. They had — and 
have — no nuclear materials 
control and accounting sys- 
tem.” 

Washington’s initial reaction 
to the Kazakh offer was none- 
theless uncnihusiastic, several 
officials said. Some officials, 
particularly at the Department 
of Energy, “wanted the Rus- 
sians to take it” 

The State Department was 
concerned that the deal could 
spark resentment in Russia, 
where the highly enriched ura- 
nium had been produced. But 
when Vice President A1 Gore 


discussed it with the Russian 
prime minister, Viktor S. Cher- 
nomyrdin, in Washington last 
summer, Mr. Chernomyrdin 
gave it his blessing. 

Kazakhstan, one official 
said, initially affixed a value to 
the ur anium “many times” its 
market value. Alma-Ata had to 
be persuaded to accept what i 
officials described as a secret r 
payment of several million dol- 
lars. 

While these negotiations 
were under way, officials in 
Washington were haggling over 
who would pick up the tab. In 
the end, a deal was struck to 
deduct the payment from the 
budgets of the State, Defense 
and Energy departments. 

Neither Mr. Perry nor other 
U.S. offirials who conducted 
the briefing mentioned any sum 
for the U.S. assistance except a 
$300 million cost of airlifting 
the materials to the United 
States and sending them by 
truck to storage in Tennessee. 


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4 ’SMamericas / 


ENTEENATIOINAL HERALD TRIBUNE, THURSDAY, NOVEMBER 24, 1994 


Page 3 





rs 



gk tffc- 

fS SfH fe s 





•. <;* 

: - tO?: 
-‘■S' 

■i. _ cjj :_ 


'-■■■ By Michael Wines 

Hew York Times Service 

WASHINGTON — A week 
after he seemed to open the 
door to a constitutional amend- 
ment to allow oraaaized prayer 
in schools, President Bill Ctin- 
too seemed to slam it shut, say- 
ing his earlier remarks bad been 
“overread." 

“I do not believe that we 
should have a constitutional 
amendment to carve out and 
legalize teacher- or student-led 
prayer in the classroom," Mr. 
Clinton said at a news confer- 
ence. “1 think that that is inher- 
ently coercive in a nation with 
the amount of religious diversi- 
ty we have in this country. I 
think that would be an error." 

The root of the misinterpre- 
tation, Mr. Clinton suggested. 


religion on Students 
‘Error,’ Clinton Says 


™ji h Jj cport f rs about bis were greeted with enthusiasm 
for a p l ay ™ Mr. Gingrich and with de- 
announced by spair by some Democrats and 
Kepnesentative Newt Gmgnch, ravti liberties groups. The de- 
aKepubhcan from Georgia and tractors accused the president 
prospective House speaker. of abandoning principle on an 
The president said at the time ksue Ihear said was a rau- 
tiial he supported voluntary ^ lest of individual rights. 


;nts TWA Jet 
Says Hits Plane 

S^SvSkS. On Runway 

■ Democrats and r ry T • 

srJSfi In St Louis 


** -*» F** 2 •■W • • 


: ^ '/. 7 ^ ‘ 

, '* > 


prayer in schools, but he ques- 
tioned whether organized pray- 


The White House counsel, 
Abner Mikva, later tried to re- 


ers in small settings like class- 0851 Mr. Clinton’s comments to 
rooms could take place without underscore bis skepticism to- 
being coercive to everyone pre- ^d an amendment without 
sent, including children who actu aUy ruling one out. 


® Co* 


did not want to participate. 

Then he said: '‘Obviously, I 
want to reserve judgment; I 
want to see the specifics, but 1 
think this whole values debate 
will gp forward and will intensi- 
fy in the next year, and again, 1 
would say this ought to be 
something that unites the 


was that he and reporters alike American people, not some- 
wen? worn out from weeks of thing that divides us.” 


travel when he addressed the 
payer issue in Jakarta last 


•Mr. Clinton had been asked 
at a question-and-answer ses- 


Laier, he added: "I want to 
see what the details are. I cer- 
tainly wouldn’t rule it out. It 
depends on what it says.” 

At the time, those remarks 


On Tuesday, Mr. Clinton 
seemai to go the remainder of 
the nine yards, stating his oppo- 
sition to the leading school 
prayer amendment offered by 
House Republicans, (he bloc 
that is most ardently campaign- 
ing for such a measure. 

That proposal, by Represen- 
tative Ernest Istook of Oklaho- 
ma, would permit individual or 
group prayer in public schools 
or oLher institutions but bar 
slate and federal entities from 
dictating the language of pray- 
ers or compelling individuals to 
participate. 


Sister- in- Law Joins the Fray , 
Accusing Simpson of Murder 


The Associated Press 

: - -r Xos ANGELES — Nicole 
‘ Brown Simpson's sister has ac- 
i ■ , , cused O. J. Simpson for the first 

0 Li riv. time of being a murderer, and 
said that Mis. Simpson had 
feared be would kill her.. 

“Nicole had always said, 
• - ‘<1 J.’s going to kill me one day 
- and he's going to get away with 
it,’ ” Denise Brown said in an 
r -■ interview with the Orange 
■*. County Register, published on 
. Wednesday. 


she said. “He said. ‘Me?’ That’s 
all he thinks about, ‘Me, me, 
me." " 

Mr. Simpson has pleaded not 
guilty in the June 12 knife kill- 
ings of his ex-wife and her 
fnend Ronald L. Goldman. 

Ms. Brown said she thought 
that Mr. Simpson truly believed 
he was not guilty. “He believes 
his own lies," she said. 

In a preview of what will be a 
bitter fight over genetic evi- 
dence^ meanwhile, Mr. Simp- 
son's prosecutors failed in an 
effort to subpoena an expen 


In the newspaper interview, son's prosecutors fail© 
she quoted her sister as saying effort to subpoena an 
that Mr. Simpson could get witness for die defense, 
away with murder “because Deputy District Attorney 
he's O.J. Simpson and O.J. Rockne Hannon had argued 


he's O.J. Simpson and O.J. Rockne Hannon had argued 
Simpson never has to pay for that the prosecution should be 
anything." allowed .to subpoena a defense- 

Kfs. Brown’s statements were — — 


hired scientist to testify at a 
DNA admissibility hearing. 

Mr. Harmon said that Dr. 
Edward Blake is one of the na- 
tion's foremost supporters of a 
form of DNA testing called 
PCR, which has been used to 
analyze blood samples collected 
in the Simpson case. 

“He's told them the bad 
news: That be thinks the tech- 
nology is fundamentally valid," 
Mr. Hannon said. 

Judge Lance A. Ito of Superi- 
or Court denied the subpoena. 
His written ruling said that 
prosecutors had faded to show 
they could not obtain Mr. 
Blake’s expert opinions from 
transcripts of his testimony in 
other cases. 


I * thirst time any of Mr. Simp- 
son’s in-laws had publicly ex- 
pressed an opinion cm his gnilt 
{ or innocence. 

Ms. Brown said that when 
detectives called the family to-. 
. - v break: the news of'JVbs. Simp*,- 
son’s murder she yanked the 
receiver from her mother and 
told the investigator, “Oh my 
’ I God, he killed her, he murdered 
' her." 

.* “Who?" the detective asked. 

' “I said, *0. J. He always said 

he was going to kill her.’ ” 

. _ - ' - Ms. Brown said she had told" 

~ : Mr. Simpson the same thing 

when he called, 

■“I said, ‘You murderer! You 
. killed my sister! You always 
- • said you were going to do it!’ ,r 


j Away 

j ■ 

I From Politics 

r ______ 

{ • Latino community leaders 
| have cited the death of a 12- 
r year-old A n a h ei m , Calif or- 
i nia, boy as the first casualty 
| of Proposition 187. Julio 
i Cano, a seventh-grader. 


Gunman in D.C. Kills 3 
At Police Headcpiarters 

. The Associated Press 4 ], an FBI agent with eight 

WASHINGTON — A man years’ experience with the agen- 
carrying a semiautomatic as- cy and Martha Dixon Martinez, 
saqlt weapon walked into the 35, who had served seven years 
District of. Columbia police with the FBL 
headquarters, starting a shoot- Another FBI agent, John Da- 

ing spree that killed two FBI vid Kuchin, was wounded in the 
agents and a city detective. Die shooting. He was reported in 
gunman was shot and killed. critical condition Wednesday 
The District of Columbia po- after undergoing surgery, 
lice chief, Fred Thomas, said AH the law officers were 
the gunman entered the homi- members of a joint FBI-police 
cade section on the third floor of task force that reviews unsolved 


the police headquarters build- murders three months or older, 
mg. located a few blocks from «w c believe the gunman was 
Capitol HiB, about 3:30 Tues- ^ suspect” of the squad, said 
day afternoon. Tony Danids, head of the FBfs 

Shooting erupted a few mm- Washington field office, 
utes later, leading to what Mr. But Ms. Lloyd said Wednes- 
Thomas described as a “hectic that Mr. Lawson had no 
and chaotic situation." reason for being in the building 

The deaths brought to 369 day. 
the total number of homicides bdieve he had been in- 

in the District this year, com- terviewed before by agents of 
pared with 467 for all of 1993. g^e Metropolitan Police De- 
A police spokesman, Sidney partment, 1 ’ Mr. Daniels said. 


on an Compiled by Ovr Staff From Dispackes 

i rau- ST. LOUIS, Missouri — A 
its. TWA jetliner roaring toward 
Qnse *' takeoff sheared off the top of a 
to rc ' private plane that had strayed 
ntsto onto the runway, killing two 
“ to ~ people on board the small craft, 
thoul officials said Wednesday. 

Eight of the 137 people 
Jaton aboard TWA Flight 427, an 
*er of MD-80 jet bound to Denver 
VP 0 " from SL Louis, suffered minor 
cbqol injuries, said John McDonald, a 
xl by TWA spokesman, 
bloc The Federal Aviation Ad- 

’ajgn - ministration said two people on 
board the Cessna Conquest 441 
twin-engine turboprop were 
kp 0- killed when the roof was tom 
|“ ° r off about 10:15 Tuesday night 
at Lambert St. Louis Inlerna- 
■ bar tional Airport. 
fr° m The airport director, Leonard 

P ra y- Griggs; said the MD-80 jet, 
10 while not yet airborne, had ac- 
celerated to at least 80 miles an 

hour (130 kilometers an hour) 

when the pilot spotted the er- 
rant Cessna and swerved to 
avoid crashing directly into the 
) smaller plane. 

“The pilot did an absolutely 
superb job in avoiding what 
f* could have been a catastrophe, 
because rather than going i 
straight into it he managed to 
at a lift it and clip it with the right 
g- wing,” Mr. Griggs said. 

; Dr. The twin-engine turboprop 
e na- lacked clearance for the run- 
of a way, Mr. Griggs said; “How it 
ailed got to where it was, I do not 
sd to know.” He said the Cessna was 
xted supposed to be using a short 
runway used by commuter air- 
bad craft that is roughly parallel to 
tech- the runway the larger plane was 
tlid," using. 

The jet was evacuated and 
peri- about 100 passengers look a lai- 
wna. er flight to Denver, Mr. Mc- 
that Donald said. He said the five 
(how crew members, including the 
Mr. two pilots, remained in Sl Lou- 
rrom is. 

iy in “There was an impact and 
the plane veered,” said a pas- 
senger, Pete Hockett, of Madi- 
son, Wisconsin. “It was scary." 

The airport was dosed for a 
few minutes after the accident 
and the runway, one of three, 
was shut down for the night. 

In Washington. .-Man Pol- 
lock, the National Transporta- 
. tion Safety Board spokesman, 
asht said according to prelimi nar y 
8®’ information and reports, the 
U1CZ - airliner had reached a speed of 
,ears about 90 knots when crew 
members spotted a small plane 
1 on the runway. The TWA plane 
8 then struck the Cessna with one 
of its wings, causing it to catch 
sday rirc . 

The county coroner was 
withholding the victims’ identi- 
otice ucs until relatives could be 
reached. (AP, Reuters) 


* - - • , 


- - if 





Mart J. Temll/The AMocuicd Purw 

CHRISTMAS CARD — Former President Ronald Reagan and his wife posing for pictures during a tour this week 
of the “Christmas Around the World" exhibit at his Presidential Library and Museum in Sind Valley, California. 


POLITICAL NOTES 


Citing ‘Corporate Welfare* 

WASHINGTON — Firing back at 
conservatives who have vowral to trim 
welfare costs. Labor Secretary Robert B. 
Reich has issued a broad but vague call 
to choke off as much as $200 billion in 
“corporate welfare” as a way of finding 
money for jobs programs. 

"We are re-examining every special 
benefit that the poor receive,” Mr. Reich 
said in an interview after a speech before 
the Democratic Leadership Council. “It 
seems only fair that we should also target 
tax breaks and subsidies that simply 
don’t make sense. All of that needs to be 
on the table." 

But he stopped short of identifying 
any corporate tax break or subsidy as 
unreasonable or counterproductive. And 
though he referred to a study by a Demo- 
cratic research organization that identi- 
fies SIl 1 billion in preferential programs 
for specific industries, the labor secre- 
tary said he was not endorsing that re- 
port or the suggestions in it. fN>Tj 

Ripping the Safety Met 

WASHINGTON — The welfare bill 
supported by Republican leaders in the 
House would deny benefits to millions of 
American children and families, causing 
increases in poverty, homelessness ana 
hunger, according to a report issued by 
an advocacy group for ute poor. 

The Center on Budget and Policy Pri- 
orities reported that if the legislation, 
known as the personal responsibility bill, 
were fully pul into effect today, 2.5 mil- 
lion families and at least S million chil- 
dren now getting benefits under the Aid 


to Families with Dependent Children 
program would be pushed off the rolls. 

“These are sweeping changes in safe- 
ty-net programs,” said Susan Steinmetz, 
director of welfare reform at the Center 
on Budget and Policy Priorities. “The 
bill contains provisions that go far be- 
yond what people typically refer to as 
welfare reform." 

In response, Republicans said the re- 
port overstated the negative effect of the 
legislation and failed to take into ac- 
count other benefits that poor families 
would continue to receive, such as food 
stamps and Medicaid. (WP) 

Mew Life for States’ Righto 

WILLIAMSBURG, Virginia — The 
new Republican leaders of Congress 
have promised Republican governors 
greater power and freedom to solve 
problems without interference from 
Washington, but warned of the difficult 
choices they jointly face in trying to 
move the fraleral government toward a 
balanced budget early next century. 

In a gathering that highlighted the 
sudden emergence of Republican politi- 
cal power across the country, the incom- 
ing Senate majority leader. Bob Dole of 
Kansas and the new House speaker. 
Newt Gingrich of Georgia, offered to 
make the governors full partners in what 
was described as a “historic opportuni- 
ty to restructure the relationship be- 
tween Washington and the states. 

“This is the meeting that crystalized 
the process of getting power out of 
Washington and in a sense reversing the 
centralization which began in 1932 and 
reached its theoretical peak in the Great 
Society,” Mr. Gingrich said at the clos- 


ing session of the Republican Governors 
Association conference on Tuesday. 

The governors, who have complained 
about going on bended knee to Washing- 
ton to seek favors, said they welcomed 
such a reversal of power and promised in 
return to do more with less. (WP) 

Helms Comment Mo Threat 

WASHINGTON — The Secret Ser- 
vice has determined that there was no 
threat against President Bill Clinton 
when Senator Jesse Helms said the presi- 
dent “better watch out” if he comes to 
North Carolina. 

“As far as we’re concerned, the matter 
is closed,” Jaime Cagigas. a Secret Ser- 
vice spokesman. 

In an interview with a North Carolina 
newspaper Monday, the Republican sen- 
ator said Mr. Clinton was so unpopular 
on military bases that he "belter watch 
out if he comes down here ” adding that. 
"He’d better have a bodyguard." 

Mr. Cagigas said the agency was look- 
ing into the matter, although a formal 
investigation was never opened. "We 
have followed up on the comments and 
spoken with the senator's staff.” Mr. 
Cagigas said. (A Pi 

Quote/ Unquote 

President Clinton, after Tom. a 50- 
pound, snow-white turkey, was given the 
annual Thanksgiving pardon at a Rose 
Garden ceremony on Wednesday but 
then squeezed between two shrubs, dis- 
appearing for a few moments from his 
handlers: “It's not registered on the tur- 
key that he’s pardoned yet.” (AP) 


But Ms. Lloyd said Wednes- 
iv that Mr. Lawson had no 


Julian Symons, Urbane Crime Novelist, Dies at 82 


By Sarah Lyall 

New York Tunes Service 


He produced poetry, essays, 
biographies of such figures as 


LONDON — Julian Sy- Edgar Allan Poe and Thomas 
mans, 82, a prolific and urbane Carlyle, and scholarly works. 


writer known for bis finely fash- His history of literary modern- 
ion ed crime novels, died, of a ism, "Makers of the New: The 


( died after his illegal-imm*- 
i grant parents delayed seek- 
1 mg medical treatment — 

I out of fear, the parents 
•< said, that a hospital would 
: | report them to immigration 
'i, officials. 

• An air force investigator 
has recommended dropping 
all charges of negligent ho- 
micide and dereliction of 
duty against an F-15 fighter 
jet pilot implicated in the 

: J "friendly-fire" downing of 
I rwo U.S. helicopters. over 
■northern Iraq in ApriL an 
incident that killed all 26 
people aboard. 

• A Harris Pea says Ameri- 
cans are testin g lukewann- 

. about the country, these 
days. About two-thirds ol 
those questioned rated the 
state of the nation as “only 
i fair" or -“poor." They died 
, J crime, the government and 
the economy as the main 

reasons, according to a pou 

conducted by Louis Harris 
'■ & Associates. Only 2 per- 
i cent of the 1,246 adults sur- 
! veyed said the nation was 
| in “excellent"' shape in the 
i (Jays after the electionSi 31 
■ percent said it was “PJJtty 
i good," 49 percent smd it 
was "only Fair,” 18 percent 
rated it as “poor" and 1 
jxsrcent said they were not 
sure. 

• Sara Remington toroed 
cartwheels in front of her 

I doctors as she marked the 
1 ,'iOih anniversary of the 
fceart transplant she under- 
. ;went at six months. The 
world’s longest survivor of 
i h pediatric heart transplant 

spun horself across iheccB- 

i ference room floor at the 
j .Texas Heart Institute in 
! Houston. * « 

1 LAT.NYT.AP.***** 


EamelUidcnlified the kuMnan iSSM? - 

as Bennie Lee Lawson, 25, of notice emergency response home m Kent. JVJ*. was pumisnea in ism/- 

Washington, who was qnes- ctdiod to* the W* ~*S*22&'SS!?!£!S. 


1939,” was published in 1967. 
But he was best known for bis 


itemed by the police a week ago Thomas said. “We don’t know 
in a triple slaying in Washing- he committed suicide or if he 
ton. was shot and killed by one of 


than 30 books in a career that steady st ream of rather uucon- 
spanned more than half a cen- ven tional crime fiction. He sur- 


ton. was shot and killed by 

Mr. Lawson made his way to the agents.” 
the third flow carrying a TEC-9 At the time of the sl 

s em iautomatic assault weapon civilians were in th 
that fires multiple rounds in to be interview 

just seconds, an FBI spok^- Thomas said, 
woman, Susan Lloyd, said ^ were not i 

Wednesday. . with Mr. Lawson, Ms 

The weapon is sbghtiylai^r ^ l<Th werc 
than a handgun and can be east- wrong pj^ at the wron 

ly concealed, she satd. ch e sSd. 

The police sergeant who was 

killed, Henry Joseph Daly, 51, The police would not 
had beep on the force 28 years, the ovOiaiis. One iwas v 
earning more than' two dozen m the leg and the ot 
commendations. The other vie- unharmed but m custo 
tj fp s were Michael John Miller, said. 


•lUed by one of tuiy, kept up a greeting pace of vcyed the genre in “1 
J lecturing and willing book re- Murder,” a history of ih( 

, . , . views and essays as well as fie- novel, published in 1972, 

Of the shooting. . n w^Wntlv. 


yed the genre in “Bloody 
urder a history of the crime 


At the tune oi me snooung. ^ ^ recently, 
two civilians were m the squad , , . „ , Thomas H. KucheL 84. 

Mr- J£ElitGX£Si Former U.S. Senator 

~~ not — sLaL*-* Jasrs- ‘ .n“L1?SS2 fiVll 


wra^ place at the wrong time, tinTiune 

shesaicL . . scribed. His first novel, “The 

The police would not identify Immaterial Murder Case,” was 
the dvOians. One was wounded bought for £200 ($313) in 1945 
in the leg and the other was when his wife, Kathleen, found 
unharmed but in custody, they the manuscript in a drawer and 
said. sent it to a publisher. 


wrong place at the wrong time, 
she said. 


literary mstgnvine. naiM Twen- Thomas H. Kuchel, 84, a U.S. 
tieth Century Verse, which sur- , — — 


senator for 16 years and the last 
major officeholder of the pro- 
gressive Republican line in Cal- 
ifornia politics that ran back to 
Earl Warren and Hiram John- 
son, died of lung cancer Mon- 
day at his home in Beverly 
Hills, California. 

He was the Republican whip 
in the Senate from 1962 to 1966. 

Oscar Mpetha, 85, 

ANC and Union Leader 

CAPE TOWN (NYT) — Os- 
car Mpetha, 85, a longtime Af- 
rican National Congress figure 
and union leader who was a 
political prisoner in South Afri- 
ca even past his 80th birthday. 


died after a long illness Itiesday of the troupe that danced with 

•_ 1.. L:.. D.l>^r in U T q 


in Cape Town. 

He joined the African Na- 


Josephine Baker in “La Revue 
Negre” in Paris in the 1920s, 


tional Congress in 1951, rising (tied of pneumonia on Ocu 29 
to become vice president of the in Philadelphia. 


Cape Province unit for some 
years until the Congress was 
banned by the government in 
1960. In 1983 Mr. Mpetha was 


After the company broke up. 
Miss Anderson w'as among 
those who chose to remain in 
Europe, and for the next 15 


convicted of terrorism and of years she performed in revues 
inciting a riot at a squatter and nightclubs on the Conti- 

“ a. jl * non j . DktlA 


camp m August 1980 and sen- 
tenced to five years in prison. 

Evelyn Anderson, 87, 

Dancer With Baker Revue 
PHILADELPHIA (NYT) — 
Evelyn Anderson, 87, believed 
to be the last surviving member 


nent, later returning to Phila- 
delphia. 

Diana Laura Riojas de Colo- 
sio, 34, the widow of the assassi- 
nated Mexican presidential 
candidate Luis Donaldo Coio- 
sio, died of pancreatic cancer 
Friday in Mexico City. 



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"TIT i wr«v 


i 




THURSDAY, NOVEMBER 24, 1994 



Heralb 


INTERNATIONAL 



(tribune 


PCHI.lMIKI) WITH TTIfr MTI lORK TIMES ANTI THE WANHINHTON POST 


Arafat Should Be Helped 


Last Friday’s clashes in Gaza drama- 
tized the perils that threaten Israel's his- 
toric peace with Yasser Arafat’s Palestine 
liberation Organization. Fourteen people 
were killed and more than 200 wounded 
after Palestinian police fired on street pro- 
testers, many of them sympathetic to the 
militant Islamic organization Hamas. 

It is six months since the PLO took over 
administration of Gaza and Jericho. Ex- 
pectations were overly high, international 
aid has been slow to arrive and Hamas has 
tried to undermine the PLO at every turn. 
But by now the Palestinian Authority 
should have been able to establish a mea- 
sure or civil order and start to deliver the 
fruits of peace to a long-suffering popula- 
tion. It has not done so, and Palestinians’ 
patience is rapidly running out. 

That bodes big trouble not only for 
Mr. Arafat but also for Israel, which has 
bet heavily on his ability to deliver a 
negotiated peace, and for the United 
States, which has made itself an informal 
guarantor of that peace. 

Both now have a big stake in rescuing 
Mr. Arafat from his own mistakes and 
trying to make him look as appealing as 
possible to his Palestinian constituents. 
Israel could help by speeding the transfer 
of autonomy in the west Bank and by 
enhancing the powers and the financial 
resources of the Palestinian Authority. 


But nothing can help Mr. Arafat’s ; 
ging popularity ratings unless the PI 
leader learns how to help himself. He 
cannot continue shoving aside local Gaza 
and Jericho leaders in favor of expatriate 
cronies from Tunis, sloughing off calls 
for more democracy, re gimenting the 
press and neglecting economic develop- 
ment projects. Most imperatively, he can- 
not assign sensitive police tasks to poorly 
disciplined street toughs. 

Hj s most urgent problem is Hamas. 
The group's military wing launches ter- 
rorist attacks into Israel. Its civilian wing 
functions as a mass political party, and 
provides residents in Gaza with social 
services that the Palestinian Authority 
seems incapable of delivering. To de- 
mand that Mr. Arafat suppress Hamas 
terrorism launched from PLO areas is 
simply to demand that he live up to the 
peace agreement. But lo demand that he 
crack down on the Hamas political move- 
ment is to ask him to launch a Palestinian 
civil war. His police must become more 
aggressive against terrorism and less ag- 
gressive against political dissent 

Mr. Arafat has managed to make an 
already difficult problem in Gaza worse. 
But neither Israel nor the United States 
can afford to simply stand back and let 
him suffer the consequences. 

— THE NEW YORK TIMES. 


Rogue on the Peace Road 


A new obstacle has been put in the 
road to Middle East peace by, you 
guessed it Senator Jesse Helms. It con- 
cerns the tortuous quest for agreement 
between Israel and Syria. To bring along 
an apprehensive public, Israel's Labor 
government hopes for American partici- 
pation in an eventual peacekeeping pres- 
ence on the Golan Heights. Bui the Likud 
opposition seems now to have enlisted, or 
at least harnessed, the expected new Re- 

S ‘ 'ican chairman of the Senate Foreign 
lions Committee in opposition to 
putting GIs on the Golan. 

You don’t have to be Likud to ask 
about putting American soldiers into a 
Golan that is quite different, in its physi- 
cal features and in the quality of the 
neighborhood, from the Sinai, where 
American soldiers have quietly rein- 
forced Israeli-Egyptian peace "for 15 
years. What are the risks of Americans 
being shot at? What would happen if 
Israel were attacked or itself felt driven to 


/age preemptive war? 


:ou do have to be Likud, however, to 
want to use the Gls-in-Golan issue to pry 
Labor out of power. This is what is going 
on in Israel’s contentious democracy 
now. Likud finds Syria an unreliable 
partner in peace; it rejects the peace-for- 
tenitoiy exchange that Labor is pursuing, 
preferring to hold the territory. Likud also 


lakes the doctrine of self-reliance to a 
place that discounts American reliability 
as a protector as well 

Israel, engaged in issues touching the 
life and death of the nation, is tom. It is 
apparent, however, that while Labor has 
a risky plan for peace, Likud has no plan 
at all — only an instinct to be strong. 
The United States is a friend to Israel 
regardless of what party Israeli voters 
choose. But American friendship for Is- 
rael and the American interest in region- 
al stability compel Washington to stay 
behind Labor, Israel’s party of peace. 
An American politician should not be 
casually lending support to a tactic of 
Israel’s party of confrontation. 

In fact, peace talks dragon the crucial 
Israeli-Palestinian front. Palestinian 
terrorist attacks have slowed Israel’s de- 
livery on its Oslo pledges to redeploy 
troops, extend Palestinian self-rule and 
move to Palestinian elections. The re- 
sulting surge of PLO Chairman Yasser 
Arafat's extremist rivals has produced 
intra-Palestinian clashes that in cum 
demonstrate Mr. Arafat's good faith to 
Israel but increase his need for Israeli 
responses that will let him show that 
peace benefits Palestinians, too. This is 
the tricky terrain on which Senator 
Helms incautiously treads. 

— THE WASHINGTON POST. 


Helms Has to Be Sidelined 


Senator Jesse Helms is out of control, 
and the Republicans have to do something 
about iL what Senator Bob Dole has on 
his hands is a mean-spirited, loose-lipped 
legislator who has moved from being an 
embarrassment to their party to being a 
global liability for the nation. 

The chair apparent of the Senate For- 
eign Relations Committee, who jolted the 
Joint Chiefs of Staff over the weekend 
when he challenged President Bill Clin- 
ton's fitness to serve as commander in 
chief, told The Raleigh News and Ob- 
server Monday night that Mr. Clinton 
“better have a bodyguard” if he visited 
military bases in North Carolina, Mr. 
Helms’s home state. Mr. Helms has since 
admitted an error — without offering the 
decency of an apology. “1 made a mistake 
last evening," he said, “which I shall not 
repeat.” But no reluctant amendment can 
atone for a mindless remark that, howev- 
er intended, seems to invite violence on 
the president in a country that has seen 
more than its share of violence. 

Rich Bond, the former chairman of the 

Helms’s remark could “cost him his chair- 
manship” of Foreign Relations if fellow 
Republicans cannot “tone him down.” 
There is no need to wait Allies and poten- 
tial rivals cannot be expected to sort out 
when Mr. Helms is speaking nonsense and 
when he is attempting to shape American 
policy. He lacks the dignity and balance 
for the job, and getting rid of him will be 
one of the first tests for Mr. Dole, who as 
incoming Senate majority leader will con- 
trol committee assignments. 

Mr. Dole said on Tuesday that he as- 
sumed Mr. Helms was joking, but every- 
one who knows Mr. Helms knows that he 
was speaking wfaat was in his heart and, 
alas, his mind. Senator Christopher 
Dodd, Democrat of Connecticut, got it 
right when he said: “These are not just 
casual remarks by any citizen. They’re 


being made by the incoming chairman of 
the Senate Foreign Relations Committee. 
Those words are heard around the world. 
They’re significant” 

Popping off is nothing new for Mr. 


Helms. On the nomination of a gay rights 

of Ho " 


activist to the Department oi Housing 
and Urban Development, he said: “She’s 
not your garden-variety lesbian. She’s a 
mili tan t- activist- mean lesbian.” And to 
Carole Moseley- Braun, a month after 
they debated cm the Senate floor over use 
of the Confederate flag: Tra going to 
make her cry. Fm going to sing ‘Dixie’ to 
her until she cries.” 

Now he is telling bis commander in 
chief to wear a bulletproof vest when he 
visits North Carolina. The difference is 
that he is no longer just another oddball 
curmudgeon whose outbursts are ignored. 
People listen to the chairman of the For- 
eign Relations Committee. The Republi- 
cans have a duty to see that the chairman 
is someone who deserves an audience. 


— THE NEW YORK TIMES. 


Other Comment 


For GATT, a Worrying Alarm 


Both bouses of the new [U.S.] Congress 
will have Republican majorities who will 
be in a position to force aQ sorts of mea- 
sures on the administration. They do not 
need to threaten GATT to push through 
the domestic measures they seek. If they 
do sink the agreement, the damage will be 
immense. Without the endorsement of the 
United Scales, [Che treaty] would be fatally 
weakened. Even if [Senator Bob] Dole and 
his friends back down and the agreement 
is ratified this year, this last-minute alarm 
over such an important matter wQl have 
greatly damaged America’s already frayed 
reputation among her allies. 

— The Daily Telegraph (London). 



International Herald Tribune 

ESTABLISHED 1887 

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Co-Chairmen 

RICHARD McCLEAN. PuNtthrr & Chief Executive 
JOHN VINOCUR.£«Yumv£c&w ■£ VkePreddat 

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Go Ahead and Kill an Anti- American GATT Treaty 


N EW YORK — When the VS. Con- 
gress takes up the General Agree- 
ment on Tariffs and Trade next week, it 
should focus on diplomacy, not econom- 
ics. It should give particular scrutiny to 
the treaty’s proposed offspring, the 
World Trade Organization, which could 
cause immeasurable damage to Ameri- 
can diplomacy for years to come. 

Contrary to the claims of Vice Presi- 
dent A1 Gore and other administration 
spokesmen, the future of trade does not 
depend on GATT. Whether the treaty is 
ratified or not, world trade will continue 
to grow as it has for half a century. 

Nor, despite the claims of right-wing 
isolationists and left-wing consumer ad- 
vocates, is sovereignty — America’s or 
anyone rise’s — at stake. By definition, a 
treaty requires signers to forgo certain 
exercises of authority or “sovereignty. ” 
The most important thing at stake in 
the debate over GATT is American Dow- 
er. Can America still convert its nrihtary 
and economic Dower into preponderance 


By Michael Lind 


and economic power into preponderance 
in international organizations? Apparent- 
ly not on the evidence of the treaty that 


Cuba would have as much voting pow- 
er as the United States. Eighteen mem- 
bers would have populations of less than 
a million. The votes of many of these tiny 
countries might be up for sale in return 
for investment or arms. 

Japan might round up enough mini- 
state votes to bar U.S. trade laws intend- 
ed to pry open its markets. The European 
Community has already published lists 
of U.S. trade measures that it would like 
to see struck down. It could use the WTO 
to do so, perhaps with the help of East 
European and African proxies. 

The consequences for American diplo- 
macy may be even more serious. If the 
United States endorses the rule of one 
country, one vote in the World Trade 
Organization, other countries may insist 
on that principle in tbs design of other 
international bodies. 

Suppose the United States derided to 


support the creation of a new Pacific 
security forum. The best institutional ar- 
rangement for the United States would 
give weighted votes or vetoes to the great 
powers — America, China and Japan, 
perhaps Hy tia , Russia and Indone- 
sia. But tiny countries like Singapore, 
grown accustomed to having as much 
pull as the United States in the World 
Trade Organization, might insist on the 
right to outvote the United States in 
Pacific security matters. 

GATT’s proponents argue that the 
United States will be protected by a 
clause allowing members to quit the 
World Trade Organization on six 
months’ notice. But if it joins, the same 
voices will be heard stridently denounc- 
ing the very idea of withdrawal as a 
threat to the world economy and an 
abandonment of U.S. leadership. Coun- 
tries hostile to U.S. economic interests 
will correctly dismiss the threat of Amer- 
ican withdrawal as a bluff. 

Yes, GATT contains minor market- 


opening measures that would. benefit 
America. But these can be obtained by 
future negotiations. In fact, America 
doesn’t really need global consensus mi 
trade matters. Most world trade takes 
place among the United States, Europe 
and Japan. Other countries have little 
choice but to go along with the arrange- 
ments they agree upon. 

The potential benefits of the treaty are 
not worth the endorsement of the one 
country, one vote principle as the basis 
for the first major international organiza- 
tion to be established after the Cold War. 

By torpedoing the World Trade Orga- 
nization, Congress would not dama ge 
America’s prestige, as the a dmin istration 
Haimc Rather, it would demonstrate 
that the United States is still a great 
power which insists on its prerogatives in 
international organizations. 


The -writer is a senior editor at Harper's 
Magazine. He contributed this comment to 
The New York Times. 


ly not, on the evidence of the treaty 
the Bush administration negotiated and 
that President Bill Clinton is pushing. 

For four decades, the United States 
has protected its interests and made the 
most of its influence in trade negotiations 
under GATT. In effect it has always had 
a veto in GATT, which has operated by 
consensus since 1959 (the last time a 
formal vote was taken). But that veto is 
about to be taken away. 

I f Co pgress ratifies the new treaty, 
GATT's loose working arrangement will 
be replaced by the World Trade Organi- 
zation, which has frequently been de- 
scribed as a United Nations for world 
trade. That analogy is off the mark. 

When negotiating the UN Charter, 
American diplomats were careful to bal- 
ance the General Assembly, in which 
every country h as one vote, with the 
Security Council, whose permanent mem- 
bers — the great powers — are able to 
protect their interests with a veto over any 
collective action. The World Trade Orga- 
nization would give the great powers no 
such advantage; it would be nothing more 
than a General Assembly of world trade. 

The United States, despite its enor- 
mous importance in the world economy, 
would have neither a veto nor a weighted 
vote — as it has in the International 
Monetary Fund and the World Bank. 
The treaty provides that in most cases 
decisions “shall be taken by a majority of 
the votes cast” and that “each member of 
the WTO shall have one vote.” 


Stop Making Excuses and Ratify This Treaty 


W ASHINGTON — The 
103d U.S. Congress has 
one final task to complete. It 
must act on legislation to ap- 
prove the Uruguay Round 
trade agreement. 

I believe that the agreement 
would pass lty substantial bi- 
partisan majorities in both 
bodies but for what has be- 
come a major stumbling 
block: The Senate needs to 
muster 60 votes to approve a 
budget waiver. Without this 
waiver, the round is dead. 

Under the budget rules, 
legislation that requires addi- 
tional spending or reduces 
government revenue must be 
paid for either through new 
spending cuts or by increased 
tax revenues. 

I am a fiscal conservative. 
The government must learn 
to live within its means. But 
the budget offset rule makes 
no sense for this trade agree- 
ment. Indeed, killing the 
Uruguay Round would in- 
crease the budget deficit. 

The issue is how to pay for 
the loss of tariff revenues re- 


By Carla A. Hills 


:YU 


U 


tici- 


suiting from the tariff cuts con- 
tained in the agreemenL Reve- 
nue loss in the first five years is 
51 1 .9 billion. Under the budget 
rules, the nrimTnis t rarion and 
Congress must find funds to 
offset that amount. Yet eco- 
nomic projections indicate that 
the a g reement win generate SI 
trillion in new economic 
growth in the United States 
over the next 10 years, creating 
new tax revenues that are 


Under the budget rules, you 
cannot count the S1.6 billion 
in previous savings unless the 
Senate waives those rules. 

Does that mean we bid 
goodbye to the Uruguay 
Round: Not at alL 

In adopting its budget rules, 
the Senate intended to hand- 
cuff itself on future spending. 
But it didn’t intend to throw 


away the key. 
The 


roughly triple the revenues lost 
ihrouph reauc* 


through reduced tariffs. 

But under the budget rules, 
you cannot count these future 
revenues, even though you 
must fund future costs. So" the 
administration has said it will 
offset this SI 1.9 billion reve- 
nue loss through SI 0.3 billion 
in deficit reduction measures 
and S1.6 billion in previously 
enacted budgetary savings. 

This package was approved 
19-0 by the members of the 
Senate" F inan ce Committee. 
You might thfnk that resolves 
the problem. But it does nou 


Senate wisely recog- 
nized that an overly rigid pro- 
cess could prove counterpro- 
ductive to measures needed to 
stimulate long-term economic 
growth. It understood that in 
such circumstances, the rules 
would need to be set aside. 
Recognizing that a waiver 
should not be granted lightly, 
it requires a super-majority of 
60 votes in the Senate to ap- 
prove such a waiver. 

Let’s put this in perspective. 
The net shortfall in U.S. fund- 
ing of the Uruguay Round 
agreement is SI. 6 billion over 
five years. The total federal 


deficit over this same periou * 
could be an estimated $1 tnl- r 
lion. How tragic that for the 
want of $320 million a year, 
America would lose 515 bil- 
lion a year in new expats and 
$100 billion to $200 billion a 
year in economic growth. 

When it comes to the Uru- 
guay Round agreement, it is 
time for people to stop hiding 
behind the budget issue. 
Those senators who claim to 
be for free trade but against 
the budget waiver might as 
well openly declare their op- 

B m to the Uruguay 
for the fate of this 
accord hinges on their vote 
on the waiver. 

The right vote for senators 
on both sides of the political 
aisle is ‘'yes” on the budget 
waiver and “yes" on the Uru- 
guay Round agreemenL 


The writer, U.S. trade repre- 
sentative from 1989 to 1993, is 
chairman of Hills and Compa- 
ny, International Consultants. 
She contributed this comment 
to The Washington Post. 


Clinton the Business President Loses Friends and Influences Badly 


W ASHINGTON — No presi- 
dent has worked harder for 
American business than Bill Clin- 
ton and got less out of it for 
himself. He should be asking him- 
self why he keeps missing payday. 

Mr. Clinton operates as the na- 
tion’s Salesman in Chief overseas, 
openly inveigling friendly Arab 
kings and remote Asian poten- 


By Jim HoagUuxd 


tates to buy U.S. goods with sales 
)uid 


pitches that would have embar- 
rassed some of his predecessors. 

This president enjoys the busi- 
ness of business. He enjoys trum- 
peting the news himself when the 
deal is closed. He just did it in 
Indonesia, where U.S. firms signed 
$40 billion in energy contracts. 

Earlier this year Mr. Clinton 
appalled to King Fahd to re- 
equip Saudi Arabia’s national air- 
lines with $6 billion worth of new 
U.S. jetliners rather than buy Eu- 
rope’s Airbus. King Fahd went 
American as a favor to Mr. Clin- 
ton, to the president's publicly 
expressed delight. The Saudi order 
hoped ease the pain of an earlier 
unannounced decision by the pres- 
ident lo discourage Boeing and 
other American companies from 


competing for $5 bfllian in aircraft 
that Iran wiQ soon buy. 

But there is a disconnect at 
work. Despite Mr. Clinton’s high- 
profile sales efforts, his relations 
have soured with the American 
business community, which pro- 
vided him with crucial support in 
1 992, and with voters'at large who 
fail to give Mr. Clinton adequate 
credit for adding export-related 
jobs in the economy. 

Clinton aides spun the Indo- 
nesia energy contracts as the deal 
of the ceniuiy. They proclaimed 
that nirvana would spring from 
the vague promises of the Asia 
economic summit to establish a 
Pacific Free Trade Area by 2020. 
But cm the same day, most Ameri- 
cans were reacting with concern 
to the Federal Reserve’s economi- 
cally dicey decision to raise inter- 
est rates and mortgage payments' 
for the sixth time in a year. 

Mr. Clinton’s silence on the 
Fed’s dramatic increase of three- 
quarters of a point drowned out 
the pie-in-the-sky rhetoric from 
Indonesia for many Americans. 


The results of the midterm 
elections were another reminder 
that the majority of Americans 
who voted on Nov. 8 do not seem 
to believe that their lives are get- 
ting better because of Mr. Din- 
ton's trade and economic policies. 

Felix Rohatyn, one of the Dem- 
ocratic Party’s’ wise men, warned 
of this in a prophetic speech he 
gave to the Woman’s National 
Democratic Dub in Washington 
on election eve. “The Clinton ad- 
ministration has lost the support 
of the business community.” the 
Wall Street financier and Clinton 
supporter said. "This has been the 
most business-supportive arimini.fr- 
tratjon in my memory. And yet 
business has abandoned Clinton 
in droves to support a Republican 
Party whose philosophy is not 
really pro- business” and which 
wiO wipe out the progress made on 
deficit reduction with ill-advised 
tax cuts, in Mr. Rohatyn’s view. 

Business success overseas does 
not eclipse business concerns at 
home — however narrowly fo- 
cused or unrealistic those con- 


cerns are. Nor are American 
workers reassured in the present 
by trade agreements that promise 
jobs in the future, especially since 
they believe that those jobs will 
mostly be in Asia anyway. 

Americans tell pollsters that 
they want less government That is 
a gross oversimplification, as the 
Republicans are about to find out 
when they deal with agricultural 
subsidies. But in the prevailing 
mood it is easier for Mr. Clinton to 
sell airplanes to King Fahd than to 
sell the notion to voters that more 
government intervention is the key 
to opening up markets abroad and 
creating jobs at home. 

That is a task that the electorate 
may want done without being 
asked to applaud iL The electorate 
would be right to think that way. 
There is a cost for high- visibility 
presidential salesmanship. 

One of the strengths of Ameri- 
can leadership in world affairs in 
the past half-centmy was Wash- 
ington's ability to invoke, credi- 
bly, the sacrifices that America it- 
self made for international 
stability. Other governments ac- 
cepted America as the Leader of 


the Free World, a much lam- 
pooned phrase that nonetheless 
expressed a truth. 

America established the values 
of national survival and demoexa- . 
cy as higher concerns in interna- 
tional relations than commerce. 
To acknowledge commerce as the 
preeminent force in America’s in- 
volvement in the world, as Secre- 
tary of Commerce Ron Brown 
does in his “Commercial Engage- 
ment” philosophy, is to invite 
every other country to put pro- 
fits first as the business of gov- 
ernment as well. 

Russia, France and other coun- 
tries increasingly base their ap- 
proach to the Gulf on the pro- 
spect of oil and arms contracts 
with Iraq and Iran. America’s ef- 
forts to keep the two rogue re- 
gimes in isolation are slowly erod- 
ing as the French and Russians 
return to old habits. 

Perhaps they would anyway. 
But an American president who 
had not spotlighted his own eager- 
ness to put commerce ahead of 
diplomacy would be in a much 
stronger position to restrain them. 

The Washington Post. 


I 





■fm 


■ j*- 

-• • •* *-.* 


•S.-r 




• •' 7 


Stocks Go Down in Asia, Too, but This Isn’t Only America’s Fault 


T TONG KONG — Asian values 
have taken as big a plunge as 
Wall Street these past few days. By 
midweek, Hong Kong was down 
by 9 percent, Bangkok by 8 J per- 
cent, Singapore by 5.8 percent and 
other markets by lesser but signif- 
icant amounts. Does this mean 
that despite its remarkable 
growth record. Asia is still catch- 
ing colds when the United States 
sneezes? Or do this week’s events 
tell us something different about 
the dynamics of Asian (excluding 
Japanese) markets? 

Three forces have been at work 
simultaneously. The most obvi- 
ous is the knock-on effect of U.S. 
interest rates on fairly open econ- 
omies whose currencies are more 
or less linked to the dollar. 

Less obvious is the domestic 
need for some monetary tighten- 
ing in some Asian economies. 

Last, and most destabilizing, is a 
perceived sharp change in expecta- 
tions of the rate of U.S. and Euro- 
pean portfolio flows into Asia. 

All these forces are more im- 
portant in the short- to medium- 
term movement of markets than 
the fact that average Asian eco- 
nomic growth remains strong. (2t 
should be at least as strong in 
1995 as this year.) 

The worst-hit market, Hong 
Kong, is a victim of its strengths 
and weaknesses- The weakness is 
dependence on property and fi- 
nancial stocks that have pros- 
pered inordinately from a decade 
of asset inflation and negative 
real interest rates. Asset prices 
have gone into reverse and. in line 
with the United Stales, the local 
prime rate is now positive and 


By Philip Bo wring 


Jikdy to get more so. 
Hong Kon; 


g looks cheap on an 
earnings basis, but earnings qual- 
ity is suspect Hong Kong also 
has to bear the brunt of the end of 


China euphoria, just as it benefit- 
ed from the boom. 

An equal problem, however, is 
Hong Kong’s strength, liquidity. 
Illiquid mutual funds invested in 
Aria, and with little casb on band, 
which fear redemptions are rais- 
ing casb where they can — in 
Hong Kong. That is the price 
Hong Kong pays for the fan that 
many funds have, because of li- 
quidity, bad absurdly dispropor- 
tionate amounts of their Asian 
funds invested in Hong Kong rel- 
ative to other Asian markets. 

Singapore suffers a little from 
this popularity, too. However, 
with a very strong currency it has 
been pushing up interest rates so 
as to dampen a booming domestic 
economy, rather than because of 
the sort of direct link to the dollar 
seen in Hong Kong or Thailand. 

The Bangkok bourse’s tumble 
despite GDP growth still surging 
along at 8 percent is a direct result 
of the baht’s unofficial peg to the 
dollar, which flows through to lo- 
cal interest rates because of heavy 
dollar borrowing. 

Higher rates are probably not 
unwelcome to the Thai central 
bank, which is concerned about 
possible overheating but now may 
need to keep an eye, too, on mar- 
ket confidence. Thailand was the 
foreign portfolio flavor of 1993, 
and foreign sentiment is not as big 
an dement now as then. But it has 
to be considered as one factor in 
the steep fall of the past three days. 

It is even more important in 
Indonesia, where modest mone- 
tary tightening should not be a 
worry. After ail GDP growth of 
6.5 percent is on the strong side of 
a steady long-term track record. 
Income is boosted by strong rises 
in almost all of Indonesia's com- 


modity export prices — ofl, rub- 
ber, coffee, nickel, palm oil etc. 
But there is an Achilles' heel to 
Jakarta’s stock market. 

Foreigners are responsible for 
two-thirds of turnover and half 
the cash for new issues like the 
recent Indosat offering. There is 
an uncomfortably close correla- 
tion between the performance of 
the Jakarta index and flows into 
U.S. mutual funds. 

That could be a bit of a pro- 
blem, too, for the Philippines, 
where foreigners have been as 
keen as locals to plug into the 
revival of the economy and re- 
suscitation of the stock market. 
There are only tenuous links be- 
tween UJS. rates and Manila 
ones, but local ones are at rock 
bottom anyway. So any concerns 
about slower portfolio flows coin- 
cide with expectations of interest 
rates rising before long. 

That leaves the markets which 
have been least affected by Wall 
Street — South Korea, Taiwan, 
India and China. 

For Taipei and Seoul, controls 
on capita] movements and on for- 
eign _ portfolio investment have 
provided relative insulation from 
the outride world. They missed 
out on much of the fund manager- 
driven emerging markets boom — 
although both have performed 
well enough over the past year 
because of domestic factors and 
the hope that more foreign money 
wUl be allowed in. Their econo- 
mies are humming along, driven 
by high local savings and buoyant 
exports. Domestic factors, not 
Alan Greenspan, will be the driv- 
ing force of monetary policy. 

India has been a major recipient 
of foreign portfolio cash but re- 
mains primarily driven by local 


investors. China’s market is a re- 
flection of its peculiar institutions. 

In sum, Asian economies are 
less susceptible than ever to U.S. 
growth. Bin as capital markets be- 
come more open and as Western 
fund managers, somewhat belat- 
edly and thus overen thuriastically , 
have timed in to Asian prospects, 
those markets have become highly 
susceptible to changes in foreign 
sentiment and cash Dow. 

There is also a paradox in de- 
veloping Aria. Market analysis 
from mature economies give its 
markets high valuations on the 
basis of growth records and pros- 
pects that are indisputable. But 
capital shortages are the norm in 
fast growing economies. And that 


should result in low price-earn- 
ings ratios reflecting the cost of 
capital, not high ones reflecting 
earnings growth prospects. In jft 
Aria, only the more mature eco- 
nomies —Taiwan, Singapore and 
Hong Kong — have capital sur- 
pluses. The others have deficits 


running u^to 6 percent of GNP. 


Since 1987, easy money inter- 
nationally has driven down the 
cost of capital, giving open, fast 
growing economies (and their 
stock markets) the best of ah pos- 
sible worlds. Now, higher interest 
rates may mean only margina l dif- 
ferences to GNP growth rates, but 
what they do to foreign portfolio 
flows is as yet anyone's guess. 

International Herald Tribune. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


1894: Fog and Temper 

LONDON — In and around 


London yesterday [Nov. 23] a fog, 
of the typical November kind. 


pervade^ril things and all places, 
dimming our visual organs, 
creeping into one's throat, and 


establishing huskiness and bad 
>er as the 


temper 


order of the day. 


a racial and economic chqmetw 
should be merged into the vaster 
consideration of this common de- 
fence.” Mr. Soyeda favored Amer- 
ican and Japanese co-operation in 
the work of world construction. 
Every nation, he declared, must 
guard against falling into the 
same militaristic path as that into 
which Germany had stepped. 


1919: Common Danger 1944: Federal Yugoslavia 




v: 


TOKYO — fFrom our New York 
edition:] Viscount Ishii, one-time 
Ambassador to the United States, 
and Tuichi Soyeda, one-time 
president of the Japanese Indus- 
trial Bank, sounded a warning to 
the world at a banquet of the 
Japanese Society that all nations 
must unite to combat Bolshevism 
and anarchy. “The defence,” the 
one-time Ambassador said, 
“should be common, as the danger 
is common to all countries. Ail 
petty and selfish considerations of 


LONDON — [From our New 
York edition:] Marshal Josip 
Broz (Tito) said today [Nov. 25] 
that a federal, democratic govern- 
ment will be established in Yugo-™. 
slavia and that it will apply all its 
powers to the closest collabora- 
tion and rapprochement with its 
Balkan neighbors, particularly 
Bulgaria. Tito explained that the 
new Y ugoslavia win consist of rix 
federal units — Serbia, Croatia, 
Slovenia, Macedonia, Bosnia- 
Hercegovina and Montenegro. 




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trotiedcqniaet. . 

Tpfoy it exemplifies both the ex- 
hilarations and the pathologies of 
urban' life, as a new movie and a new 
book make shatteringly dear. 

< “Hoop Dreams” is a documen- 
tary, tracing the five-year journey 
of two: brack Chicago teenagers 
through the downward trajectory 
of extravagant hopes for salvation 
through basketball. 

Even better than the movie — 
score one for print journalism — is 
Darcy Frey’s slender bode “The 
Last. Shot: City Streets, Basketball 
Dreams,” an elegantly told sad sto- 
ry of young black men playing with 
literally life-and-death desperation 
in Brooklyn’s Coney Island waste- 
land, where there are two basic ca- 
feer paths — drugs, and a basket- 
ball scholarship to college. 

See the movie. But first read the 
Frey book so you will better under- 
stand the sorrows you see as two 
Chicago lives hang by threads as 
thin and fragile as knee ligaments. 

Nasty neighborhoods are noth- 
ing new in the human story,- but 
COney Island, a lunarscape of ware- 
housed- poor, drug markets and 
basketball courts, bears the distinc- 
tive stigma of government’s inflic- 
tion of good intentions. In the 
1950s, in the name of “urban re- 
newal,” planners had the lunatic 
idea of piling up poor people 14- 
stories deep in apartment blocs 
built where organic neighborhoods 
were bulldozed to make room. The 
result, startling only to the plan- 
ners, is concentrated misery. 

The players Darcy Frey befriend- 
ed attended Lincoln High School, 
which in better days produced three 
Nobel laureates m physics, but 
which now almost never produces 
among its famously gifted athletes 
any who can get a 700 score mi the 
Scholastic Aptitude Test, necessary 


plays the talents of 120 players, 
almost all black, 97 of whom read 
below the ninth grade level. As Mr. 
Frey says, all have the athletic skills 
to play big-time college basketball 
but most of those who will make 
their SAT 700 will arrive. on campus- 
es “with no idea how to take lecture 
notes, read a college text, use a li- 
brary or write a research paper.” 

Coaches recruit with a ruthless- 
ness commensurate with the billions 
of dollars of television fees, ticket 
sales, shoe contracts and other reve- 
nues sloshing through the entertain- 
ment industry called “amateur ath- 
letics” that has been grafted onto 
America's system of higher educa- 
tion. A measure of the coaches' mi- 
nuscule moral awareness is that they 
unblushingly made their smarmy 

S ’tches to the Lincoln players in 
emt of Mr. Frey. 

Their oily quarter- truths and ro- 
bust lies give a dark new meaning to 
the axiom that sport does not just 
build character, it reveals iL 
If the purest immorality is to treat 
another h uman being as a mere 
means to the achievement of one's 
ends, big-time college athletics — 
there are honorable exceptions, as at 
Georgetown University— achieves a 
ghastly purity as it wrings wealth 
from young bodies and then discards 
their possessors at age 22, with minds 
untrained far the rest of their lives. 

The grinding arithmetic of delu- 
sion is this: Fewer than 1 percent of 
the more than 500,000 high school 
basketball players get Division I 
athletic scholarships. However, giv- 
en where young inner dtv men start, 
and how little their homes and 
schools give them to start with, a 
long shot can look like the only shot 
thev have at escape. Hence the in- 


Scholastic Aptitude Test, necessary and how little their horn 
for an athletic scholarship at a Dm- schools give them to start 
sion T school. Your heart will be in long shot can look like the o: 
your throat as you read about Rus- ' they have at escape. Hence 
sell Thomas’s attempts to get to 700. tensity of their pursuit. 

dutclring SAT review books and - Long ago Bayard Rnstm, 1 
vocabulary cards the way a ship- rightsleader, pausing to watch teen- 
r kecked sailor clings to a spar, Mr. . agers playing basketball; on a Har- 
raomas is caught in the surrealism lean court, said it was heartbreaking 
of a system that promises a young how good they were. He understood 
man guttering prizes if he perfects a the desperation that is the goad to 
jump shot, but prevents mm from such grace in a confining space, 
rising oa its arc because nothing in Washington Past Writers Group. _ 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 24, 1994 

OPINION 


i&race in a Confined Space 
Meets Ghetto Desperation 

- By George F. Will 

' Nrf^ife^^-rise 3 dwSehoISon hon ? e or 5011001 prepared him to 
of hope Is defined b^ asted hrop t te, syQOny ” for f 

gsas-? bareiy ^ ™ iMrt 

Today il exemplifies both the ex- ^omL do? Buy the 

° f A caned a 

3 new ran by the Nike shoe com- 

^42nl£ri5? 1 !P r « C l? r * pany and attended by drooling col- 

drSSJZtt, “ coaches, almost all- whit<^ db- 



LETTERS TO THE EDITOR 


nBuDdozed’ Into the EU 

Sweden’s recent referendum on 
European Union membership (52 
percent yes, 47 percent no; opened a 
great divide between the northern 
and southern regions. Cynically na- 
ive Stockholm technocrats, well- 
funded corporate interests and true 
believers in the “science” of eco- 
nomics helped manipulate and bull- 
doze a tiny majority into joining this 
continental power elite. 

Ignoring the warnings, 57 percent 
of the Swedes thus marched blindly 
into this European Disneyland, a 
technocratic juggernaut with a Gor- 
dian knot of problems. With ram- 
pant recession under way, Sweden 
most lode for more ways to pay its 
20 billion kronor (S2.7 billion) an- 
nual dues to the EU. 

Once upon a time Sweden was a 
model for the world, believing in its 
own inner strength. No more. As the 
rest of us prepare for the third mil- 
lennium, the ELTs gray old men be- 
lieve that an obsolete economic faith 
is much more important than de- 
mocracy and human progress. 

JOHN G. WOODS. 

Helsingborg, Sweden. 

Questions for Suharto 

Regarding the report “ Foreign 
Journalists Were Buttoned Down and 
Buttoned Up" (Nov. 17): 

This article recounts the anodyne 
questioning of President Suharto by 


the press at the end of the recent 
Asia-Pacific Economic Cooperation 
forum in Jakarta. The only probing 
questions, it seems, concerned the 
future of East Timor. 

This compliant attitude by the for- 
eign press corps contrasts starkly to 
the bravery of those Indonesian jour- 
nalists who belong to AJL an inde- 
pendent association of journalists 
that was formed this summer after 
the closure of three leading Indone- 
sian periodicals. Editor, DeTik and 
Tempo. These journalists have suf- 
fered various Forms of harassment. 
Most recently, on Nov. 12. police 
interrupted a book launch being held 
by Tempo journalists. The guests, not 
surprisingly, dispersed. 

Those of us concerned about hu- 
man rights and freedom of expres- 
sion in Indonesia, including my 
group. Article 19. regret that the 
foreign press corps failed to show 
solidarity with Indonesian col- 
leagues by asking President Suharto 
about press censorship in Indonesia. 

CATHERINE DRUCKER. 

London. 

When Calamity Strikes 

Milton Friedman’s celebration of 
die 50th anniversary edition of Frie- 
drich von Hayek’s "The Road to 
Serfdom” (Opinion, Aug. 15) 
prompted me to order and read this 
“classic warning” against social plan- 
ning. Lo and behold, on Page 120, 1 
found Mr. Hayek saying: "Nor is 


Page 5 


I Get to Set Newt Straight: 
What a Wonderful Life 


By Richard Cohen 


there any reason why the state should 
not assist the individuals in providing 
for Lhose co mm on hazards -of life 
against which, because of their uncer- 
tainty, few individuals can make ade- 
quate provision. Where, as in the case 
of sickness and accident, neither the 
desire to avoid such calamities nor 
the efforts to overcome their conse- 
quences are as a rule weakened by the 
provision of assistance — where, in 
short, we deal with genuinely insur- 
able risks — the case for the stale's 
helping to organize a comprehensive 
system of social insurance is very 
strong.” If that great Austrian econo- 
mist understood this in 1944,-wby 
can’t the neoliberals of today under- 
stand it as well? The Clinton admin- 
istration should not give up on its 
efforts to find a way to protect all 
Americans against the expense of un- 
avoidable calamities. 

SOCRATES LITSIOS. 

Baulmes, Switzerland. 

The Lock of the Canadians 

Regarding “ Canada : Stop Humor- 
ing the Spoilers and Make the Coun- 
try Whole" (Opinion, Nov. 2) by Mor- 
decai Richler: 

People across Canada do not 
know how lucky they are. Having 
lived in countries around the world, 
I know just how fortunate I am that 
one day I shall be returning home to 
the No. 1 place to live — Montreal. 

MARGARET FITZPATRICK. 

Grdbenzell, Germany. 


W ASHINGTON — Earlier this 
month in New York, I listened 
and watched as some foreign jour- 
nalists received awards for heroism. 
They came from places where peo- 
ple are killed for writing the truth; 
where the switch is thrown on televi- 
sion stations to take them off the air 
or where newspaper buildings are 

MEANWHILE 

simply blown up. I was in my tux, 
ripping wine and eating a fine din- 
ner as the program progressed and 
thinking — over and over again — 
how lucky 1 am to be an American. 

This is Thanksgiving and I am 
thankful. 

Occasionally, after I have written 
this or that, someone says: "That was 
gutsy of you, Cohen. You’ll get letters 
on that one." Letters? Who’s kidding 
whom? I sit at a word processor, 
buffered by a bfllion-doflar Fortune 
500 corporation, not to mention a 

chid unffl bc^rccumb s to old-age! 1 
am not gutsy. I am merely lucky. 
Lucky to be an American. 

Elsewhere in the world, there is 
unbelievable, unforgivable, poverty. 
Elsewhere in the world, girls are sex- 
ually mutilated in the nam e of tradi- 
tion. Elsewhere in the world, hyper- 
inflation and economic upheaval 
have robbed people of their savings 
and thrown, them out of work. There 
is no school for the kids and no 
medicine for the sick and no mercy, 
either, if you happen to be of the 
wrong tribe. T hink of Rwanda. 

In Russia, an investigative report- 
er was blown to bits because he was 
on to a story about military corrup- 
tion. In Colombia, reporters have 
been killed for writing about the 
drug czars. In Iraq, Syria, Iran and 
so many other places, journalists are 
jailed and sometimes tortured for 
merely doing their jobs. In America, 
we get to go to black-tie dinners and 
are praised for the most mundane of 
observations. We can only wonder if 
we would have the courage to do 
what they have done. We can only 
give thanks that we don't have to 
race that question. 

I do not believe in American ex- 
ceptionalism — not altogether, any- 
way. Other countries have their vir- 
tues and beauties and, increasingly, 
their respect for the rule of law. I 
recognize, too, that we Americans 
have our imperfections. The tale of 
the Ameri can Indian is not a pretty 
one and until yesterday, in historical 
terms, ours was a nation that bought 
and sold human beings. We have a 
grave and abiding racial problem 


and we remain intolerant in other 
ways as well Sometimes, in fact, I 
think we’re a nation of gay-bashers. 
We do have our flaws. 

But those flinty Pilgrims we me- 
morialize this long weekend initiated 
a process that produced a wonder. At 
least I never stop wondering at it I 
have been to ray family’s ancestral 
villages in Poland, pored through 
the record books — births, deaths 
and marriages — and seen in those 
pages the murder of every relative 
who did not book passage to Ameri- 
ca. I am the son of an immigrant (my 
mother) and an American-born or- 
phan (my father) and yet, somehow, 
my job is to tell the president, even 
Newt Gingrich, where to get off. It 
is a wonderful life. 

My family is here for the holiday. 
It includes my mother who was bom 
in Poland, and my niece who was 
bom in India, an orphan like my 
father, only more destitute. We are all 
plump and prosperous, thoroughly 
educated and engaged in professions. 
For us, there is no other holiday quite 
like this one. It combines family and 
country — immediate family and ex- 
tended family, if you wilL 
For many people, that occasion is 
Christmas and for some I know, the 
Fourth of July. A friend’s late father 
read the Declaration of Indepen- 
dence to his family every Fourth. It is 
an amazing document, radically sub- 
versive, and a breathtaking exposi- 
tion of the American creed. “AH men 
are created equal.” Government is' 
supposed to serve the people, not the 
other way around. It is the people's 
“right, it is their duty,” to rebel 
against oppression. This is our secu- 
lar creed and it is daring indeed. 

Thanksgiving itself is a wonder. It 
remains unsullied by commercial- 
ism. It is as if we recognize how 
special this holiday is and have re- 
solved to protect it. No Thanksgiv- 
ing Day cards. No boozy parties. No 
last-minute rush to the florists. No 
frantic search for a gift The grasp- 
ing, greedy minds of American busi- 
ness have laid off this holiday. They 
sense, 1 thinly that Thanksgiving is 
special or. better yet, that gifts this 
day would be superfluous. We al- 
ready have our gift 

Washington Past Writers Group. 

Letters intended for publication 
should be addressed "Letters to the 
Editor” and contain the Mailer's si- 
gnature, name and full address. Let- 
ters should be brief and are subject 
to editing We ctmnot be responsible 
for the return of unsolicited ma- 
nuscripts. 


MITSUBISHI 


sep mm 


Whenever you want to do 


Mv mother wanted me to have piano lessons. 


something, somebody expeas 
something else. 


Either wanted me to go to Harvard. 


; , ■ > , r * 


And of course, you always 
satisfy them. 

But is the real you always 
going to take a back seat to the ‘ 


Mv teacher wanted me to become a lawyer. 


wishes of others? 


Aren’t your own desires 
just as important? 






Mv wife warns me to stay at home. 







For that little voice inside 


you, we build leisure and sports 
utility vehicles like our highly 
aedaimed Pajero ('Montero’, 
en Espafia). 


Q»rs that are created to 


impress only yoursel£ 

Impress yonrsd£ 







So here 



am. 


A 

MITSUBISHI 


CREATING TOGETHER 












Page 6 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 24, 1994 



¥«* 





H 


- — Agcncc FrMKr-Pmec 

A RIDE TO WEDLOCK — Brides and grooms on their way to a mass wedding ceremony in TeSiran on Wednesday. 
M™ton zSw co»te of modest me^swere wed across Iran with the assistance of a chanteMe otgamzahon. 

ITALY: Under Fire, Berlusconi Raises Stakes in Battle With Magistrates 


Continued from Page 1 

with reports that a second in- 
quiry may be opened into accu- 
sations that he violated anti- 
trust laws covering his huge 
television empire. 

Mr. Berlusconi said he would 
summon his coalition partners, 
the neo- Fascist National Alli- 
ance and the federalist North- 
ern League, this week for a pro- 
cess called "verification" of his 
government’s ability to com- 
mand a parliamentary majority 
— a way of demanding their 
full support. 

While he has already won 
strong support from the neo- 
Fascist leader Gianfranco FinL 
the league's leader. Umberto 
Bossi, rejected the proposal. 

Mr. Bossi said that he wanted 
the review only after the 1995 
budget had been passed by Par- 
liament; by law. that must lake 


place by the end of the year- 

“We’re not interested in an 
immediate review." he said. 

Interior Minister Roberto 
Maroni, also a member of the 
Northern League, said: “The 
principle task of the political 
parties, especially those in gov- 
ernment. is to approve the bud- 
get bill. Then, when we look at 
the alliance, we can consider 
everything that has happened 
by then, inside and outside poli- 
tics.” 

The Italian prime minister is 
expected to be interviewed tins 
week by the Milan magistrates. 
If. therefore, he wins his allies’ 
backing, the move will put the 
entire government on a direct 
collision course with the investi- 
gators. who are looking into 
bribes purportedly paid by Fin- 
invest to the tax police in return 
for lenient audits. 


At the same time, his offer to 
sell part of the Fininvest empire 
of publishing, insurance, real 
estate, sporting and advertising 
interests seemed designed to 
head off accusations that many 
of Mr. Berlusconi’s — and the 
country’s — woes are attribut- 
able to the conflict of interest 
between his private holdings 
and public position. 

President Oscar Luigi Scal- 
faro met with parliamentary 
leaders Wednesday and seemed 
to offer support for Mr. Berlus- 
coni’s argument in a television 
broadcast Tuesday night that 
only a parliamentary vote of no 
confidence could force him 
from office. 

“The fate of the government 
is in the hands of the free will of 
Parliament," a joint statement 
by Mr. Scaifaro and the parlia- 
mentary leaders said. However, 


Mr. Scaifaro has made clear 
that he does not want new elec- 
tions, which he is constitution- 
ally empowered to call, under- 
mining Mr. Berlusconi’s threat 
to seek a new mandate. 

Many commentators sensed 
that, beyond constitutional 
niceties, the growing conflict 
between Mr. Berlusconi and the 
investigating magistrates in Mi- 
lan who have uncovered Italy’s 
huge bribery scandal was rapid- 
ly coming to a head 

“We have probably reached 
the last blood of a mortal duel,” 
wrote the commentator Ezio 
Mauro. “The machinery of gov- 
ernment has been turned for 
some time against the pool of 
investigating magistrates to 
block its way, while the pool 
was working implacably on the 
suspicions of wrongdoing inthe 
company founded by the prime 
minister." 


CRUMBLE: As London Sags and Cracks, the Grumbling Grows Louder 


Continued from Page 1 

that comes with building new 
rail links, or installing a city- 
wide system of underground 
wiring for cable television. 

“As a result of the recession, 
key parts of London’s infra- 


structure have suffered from 
underinvestment,” Mr. O’Brien 
said. “But in time you will see 
fabulous things; we are just all 
going to have put up with the 
misery until they are finished.'’ 

But Roy Porter, a historian 
and the author of “London, A 


Social History." published this 
month by Hamish Hamilton 
Ltd, says he believes the jury is 
still oul For all its myriad 
charms, its thriving neighbor- 
hoods, its open spaces, London 
is suffering from its lack of gov- 


ernance and central planning. 
Mr. Porter concludes. 

“It's true that London is an 
old city, and that its sewage j 
system is crumbling and its 
road system out-of-date.” he 
said “But it is not to be ex- 
cused.” - - 


Indonesia 
To Try 30 
East Timor 
Protesters 

Compiled by Our Stiff) From Dtspaidm 

DILL East Timor — Indone- 
sia said Wednesday that it 
would prosecute 30 East Timor- 
ese accused of involvement in 
riots and pro-independence 
protests that swept the troubled 
territory last week. 

President Suharto said all 
East Timorese were welcome to 
leave for Portugal, the territo- 
ry’s former ruler, including 29 
youths staging a protest inside 
the U.S. Embassy compound in 
Jakarta. 

“Let them go where they 
want,” the official Antara news 
agency quoted Mr. Suharto as 
telling a foundation of indepen- 
dence veterans on Wednesday. 
“The more dissidents [that] 
leave the country the better." 

The 29 East Timorese stu- 
dents who invaded the U.S. 
Embassy prepared Wednesday 
to leave for Portugal, saying 
they feared for their safety if 
they remained in Indonesia. 
Diplomats said they would 
probably leave this week. 

The dissidents have been liv- 
ing in the open with no access to 
the embassy building since their 
break-in. They had earlier re- 
fused to leave "the grounds until 
a jailed resistance leader was 
released. 

Indonesia’s hopes of present- 
ing an open image during the 
meeting of regional leaders in 
Jakarta earlier this month were 
dashed bv the U.S. Embassy sit- 
in and the Dili protests. 

The East Timor police chief. 
Colonel Andreas Sugianto. said 
Wednesday that the police had 
arrested 30 men “and they will 
be brought to triaL” Eight of 
the 30 were arrested Tuesday 
night in Bairo village, he said 

The territory's bishop. Carlos 
Belo. said Wednesday that the 
police were terrifying many 
East Timorese by conducting 
house-to-house searches to find 
anyone suspected of involve- 
ment in the protests of last 
week. Indonesian troops have 
often been accused oF human 
rights violations in the region. 
Muslim Indonesia’s onlv Cath- 


China Finds Another » 
Used by Japan in War 


Compiled by Our Staff From Dispatches 

BEIJING — China has 
found another Japanese Array 
germ laboratory where thou- 
sands of Chinese were killed m 
bacteriological experiments 
during World War II, the news- 
paper China Daily reported 
Wednesday. 

“The finding will help un- 
mask the intentionally covered 
facts of that period of history,” 
the newspaper quoted Sba 
Dongxun. a historian with the 
Guangdong Academy of Social 
Sciences, as saying. 

Mr. Sha identified the lab- 
oratory in Guangzhou, the capi- 
tal of southern Guangdong 
Province, after an investigation 
that began early this year when 
he was assigned to find material 
for a book on Japan’s germ war- 
fare during its occupation of 
China before and during World 
War II, the newspaper said. 

He said the laboratory, desig- 
nated as Bo8609, was founded 
in 1939 by the Japanese Army 


.. was no proof that it had con- 
killed by various infectious ms- ducted biological experiments, 
eases planted by T " paD T^ Japanese officials were unavail. 


lab, the report said. There was 
no explanation for the wiae 
range in the numbers given. 

Mr. Sha said that nurses who 
worked at the laboratory and 
the laboratory’s former Chinese 
gatekeeper had little knowledge 
of what went on inside, but said 
be recorded a statement from a 
former Japanese soldier. 

“After visiting an exhibition 
showing the crimes of the 731 
germ army last year, the old 
man was overcome with deep 
regret and disclosed the secret 
operations” in Guangzhou, the 
newspaper quoted Mr. Sha as 
saying. He was referring to the 
Japanese Army germ warfare 
group known as Unit 731. 

It is widely accepted that the 
Japanese Army operated the 
notorious Unit 731 in northeast 
China, where at least 3,000 Chi- 
nese. Russians, Koreans and 
Mongolians were killed in top- 


secret c^^tsinvolwg^ 

Zhongshan University in 


Guangzhou. 

From 3.000 to 20.000 Chi- 
nese and Hong Kong war refu- 
gees, long thought to have died 
of starvation and illness, were 


as anthrax, typhus and dysen- 
tery; human vivisection; and 
shrapnel-induced gangrene. 

For decades after the war, 
however, Japan insisted there 


able for comment on the latest 
report because of a Japanese 

national holiday Wednesday. 

Mr. Sha was aided in his re- 
search by an article written by a 
former section chief at the lab- 
oratory, who said that Japanese 
soldiers ordered lab workers to 
kill the refugees through bacte- 
riological experimentation. He 
said the army did not want to 
release the refugees into the 
provincial capital for fear of 
disrupting social order, the 
Yangcheng Evening News said. 

The Japanese lab worker said 
that bacteria had been flown in 
from Tokyo for the task. 

An elderly resident recalled 
large numbers of deaths at the 
refugee camp' and said the 
corpses had been dumped into a 
large pit and chemicals used to 
destroy them, the report said. 

A former camp inmate said 
that in three mouths in earh 
1942, be saw 20 to 30 refugees 
dying each day. Healthy refu ; 
gees were put into daik'rooi# 
with mosquitoes and fleas and 
were never seen a g ain, he said. 

(Reuters, AP) 


GATT: Clinton Strikes Deal With Dole on Trade Pact 


Muslim Indonesia’s only Cath- 
olic majority region. 

(Reuters. AP) 

~ i 

For investment i n format i on ! 

Read THE MONEY REPORT j 
every Saturday in the IHT j 


Continued from Page 1 

publicans, some of whom are 
expected to run for president in 
1996, will not heed Mr. Dole's 
rjiti and wiL join with conserva- 
tive Democrats and labor union 
supporters to oppose ratifica- 
tion. 

A vote in the House of Rep- 
resentatives is scheduled for 
Tuesday and a vote in the Sen- 
ate for Dec. 1. The newly elect- 
ed Congress, to be controlled by 
the Republicans, will not be 
sworn in until January, so the 
ratification votes will be cast by 
the departing Congress, which 
is still under Democratic con- 
trol 

Mr. Dole’s principal target in 
recent weeks was the new 
World Trade Organization, or 
WTO. which will succeed 
GATT and which will adjudi- 
cate international trade dis- 
putes. 

Mr. Clinton said his “under- 
standing” with Mr. Dole had 
been readied “to reaffirm our 
United States sovereignty ar.,1 
to make sure that thexeaffirma- . 


don will be protected in the 
GATT process.” 

The WTO, he added, “will be 
accountable and fair and will 
meet our expectations.” 

A U.S. review panel will be 
created and comprise five re- 
tired federal appellatejudges. It 
will examine WTO rulings 
against the United States 
brought by other nations. Con- 
gress can urge the president to 
renegotiate the pact if, in a five- 
year period, the judges find two 
WTO r uling s that are “arbi trary 
and capricious.” that exceed the 
WTO’s authority or that result 
from WTO misconduct A third 
such ruling would allow Con- 
gress to vote to withdraw from 
the organization. 

Mickey Kantor, the U.S. 
trade representative, who han- 
dled the talks with Mr. Dole, 
did not explain why a U.S. re- 
view panel was needed, given 
the fact that any nation can 
withdraw from the GATT ac- 
cord with six months’ notice 
and that Congress already has 
the authority to revisit its ratifi- 
cation vote in five years. 


Mr. Kantor likened the panel 
to putting “suspenders on with 
our belt” and said it was a “sol- 
id, serious, responsible idea.” 

The treaty has come under a 
barrage of criticism in recent 
weeks, much of it from conser- 
vative members of Congress 
and grassroots lobbying groups 
who have labeled the accord an 
attack on U.S. sovereignty. 
These groups fear that the 
WTO will dictate to the United 
States because ho nation wiU 
have a veto over WTO deri- 
sions. The protesters are giving 
powerful voice to a trend that 
the conservative commentator 
Patrick J. Buchanan calls “eco- 
nomic nati onalism.” 

Ross Perot, the Dallas busi- 
nessman who ran for president 
in 1992, has spearheaded some 
of the criticism. At a rally in 
Kansas on Tuesday night, Mr. 
Perot vowed to form a thinl 
major political party if C# 
gress ratifies the accord. The 
Associated Press reported. 

The treaty is not expected to 
face a severe test in the House. 


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next business move ... or contemplating a second cup «>f freshly-brewed coffee. The option is yours. You know how to apportion your time ... 
just as our gentle hostesses are for you us only they know how. With inflight service even. other airlines talk about. sinGAPORE^RunES 








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Page 7 


ovember 



Kohl Vows to Push European Integration 


Exception 


, By Bany James 

- - ■ International Herald Tribune 

- Warmed by gentle winds 
. from the Azores, much of 

^northern' Europe is enjoying 
.■some of the balmiest days on 
-record for this time (rf year, in- 
stead of suffering the usual chin 
and drear skies of November. 

The warming effect has been 
.most felt in the British Isles, 

■ where it jreinforced the usual 
:< mDd influence of the Atlantic 
\ Gulf Stream. As in western and 
northern France, flowers in 
, Britain have remained in bloom 
~ and insects are still alive. Even 
. migratory birds have stayed bc- 
' hind to enjoy the weather and 
'the food supply, despite gener- 
ally overcast skies. 

Climatologists said the run of 
“warm weather was too short 
- and isolated to indicate whether 
v it formed part of a pattern of 


By Stephen Kinzer 

tow York Times Service 

BERLIN — ■ In his first major 
spwch since winning a narrow 
re-election last month, Chan- 
cellor Helmut Kohl pledged to 
intensify his commitment to 
European integration. 

“Further stren gthe ning anH 
deosivdy advancing the politi- 
cal unity of Europe will be a 
principal task during this par- 
hamentaiy session,” Mr. Kohl 
told Parliament in a speech lay- 
ing out his plans for the next 
four years. 

^he German government 
will work intensively in the 
coming years to assure tha t de- 
cisive steps are taken toward 
ending the division of Europe 
once and for alL” 

The chancellor said he would 
. work to bring “the young de- 
mocracies of Eastern and 
Southern Europe” closer to the 
rest of the Continent. “It is nei- 
ther in Germany’s interest or in 
Europe’s interest that the west- 
ern border of Poland remain the 
eastern border of the European 
Union," he asserted. 


Aimed with a recent court 
decision affirming that Germa- 
ny’s constitution does not pro- 
hibit the use of German soldiers 
in United Nations peacekeep- 
ing missions, Mr. Kohl said he 
would send soldiers on UN mis- 
sions “after serious consider- 
ation and with the participation 
of Parliament" 

“The international communi- 
ty expects that united Germany 
will take seriously all of its 
rights and duties as a member 
of the United Nations,” he said. 

“This means that in the fu- 
ture. we win be prepared to par- 
ticipate in peace k eeping mea- 
sures taken by the international 
community," be said. 

In domestic policy, Mr. Kohl 
pledged to cut the federal bud- 
get and reduce the size of the 
government bureaucracy by 1 
percent each year. He suggested 
cutting welfare payments to the 
one-third of recipients who he 
said have rejected job offers. 
Despite the growth of service 
industries in Germany, Mr. 
Kohl said that the national 


economy would continue to be 
driven by manufacturing. 

He said he would support 
continued use of nuclear ener- 
gy, which the opposition Social 
Democrats want to curb. 

“Those who demonize chem- 
istry, biotechnology or atomic 
energy lose the great chance of 
using these possibilities in an 
ethical way," he asserted. 

In a reply to the chancellor, 
the Social Democratic leader, 
Rudolf Scharping, applauded 
many of Mr. Kohl’s promises 
but doubted they would be 
kepL 

“We have heard nice words 
about integrating the unem- 
ployed into society, about the 
equality of women, about sup- 
porting public housing, about 
strengthening the economy, 
about stimulating investment, 
about improving prospects for 
young people and so many oth- 
er things," Mr. Scharping said. 

“But where are the specific 
programs? For 12 years this 
government has done exactly 
the opposite of what it promises 
with such nice words, and there 


is every likelihood that it will 
continue to do so.” 

Mr. Scharping endorsed 
much of what the chancellor 
said on foreign policy issues. 
Both leaders said they wanted 
to maintain friendly ties to the 
United States. 

Facing the chancellor, Mr. 
Scharping said: “We have a 
government with an extremely 
narrow majority. Whether you 
will be in office for one or two 
or four years is not the point. 
Each day is one too many.” 


■i > 


temperatures have increased 
on average by 0.5 degrees centi- 
grade in the past 100 years, sd- 
' enlists are unsure whether this 
is due to a natural cycle or 
caused by a buildup ctf man- 
made greenhouse gases. 

A spokesman for the British 
Meteorological Office said av- 

■ erage mean temperatures in 
Britain were at their highest in 
176 years. 

“At the moment, the average 
temperature in central England 
is well above the previous high 
' for the whole month, which was 
in 1818,” the spokesman said. 

Mean temperatures in Brit- 
' ain have hovered above 10 de- 
grees centigrade (50 decrees 
. Fahrenhat) r x»mpared with 9.5 
degrees for the 'whole of No- 
' vember 1818, the spokesman 
said. Daytime temperatures in 
London have been as high as 15 
.degrees. 

A spokeswoman for the Na- 
tional Meteorological Service in 
France said the minimum aver- 
age temperature erf 13.7 degrees 
recorded in Brest on Nov. 14. 
- was the highest since 1945. 

The warm spell followed de- 

■ structive floods in southern 
France and northern Italy. 

v Prevailing winds in northern 
-Shropc in November are usual- 
i from the north. The fact that 
are from the southwest this 
month is unusual but not freak- 
ish, experts sakt 


lyfrc 

they! 


EUROPEAN 

TOPICS 


In Germany, New 'Toxin Teams’ 
Find Noxious Problems at Home 

Fen years, Silke M Oiler, a young German 
woman, had suffered — muscle aches, chron- 
ic bronchitis, even temporary paralysis had 
made her life hell — but baffled doctors 
concluded that it was all in her bead. 

They were wrong. She had been suffering 
from a slow case of poisoning. 

“Varnish on a paneled ceiling — the wom- 
an had been breathing noxious gases for 18 
years," concluded Klaus-Peter Bdge, after 
visiting the Muller home and testing ques- 
tionable substances. On advice from Mr. 
BSge, an environmental engineer, she had the 
paneling removed, and her health problems 
vanished with it, repeals the German weekly 
Focus. 

For this, Silke Mailer can thank an experi- 
mental program in Schleswig-Holstein state. 
Working out of a new “environmental ambu- 
lance,” specially trained workers like Mr. 
Bdge scour a home for bacteria, fungus, 
chemicals or fames, take samples and test 
them is a laboratory in the vehicle. 

Most of the cost is borne by the state health 
service — usually the patient is left to pay 500 
Deutsche mark ($320) fen* the tests them- 
selves. 

In some cases, the health service picks that 
up as wdL “We save a lot of money,” said 
Peter Virgin, spokesman for a local health 
office, “because a quick Identification of the 


cause spares us from having to pay for doc- 
tors’ visits or ewes.” 


Around Europe 


Villagers in the Vigezzo Valley, in a north- 
ern tongue of Italy that reaches up between 
the Swiss cantons of Valais, to the west, and 
Ticino, to the east, are so fed up with slow- 
motion Italian bureaucracy that they are 
ready to turn in their passports. 

For a year, the villagers have been waiting 
for the reopening of a road under repair that 
passes through their valley and links the two 
cantons. Local shops and inns are on the 
brink of ruin, and people who work in Swit- 
zerland have to take circuitous detours. Pro- 
tests — someone even dynamited a phone 
booth — have brought no relief, reports the 
German weekly Der SpiegeL 

Now the valley people’s patience has worn 
out. Their representative has sent a letter to 
Italian authorities saying they want to be 
Swiss. Officials in Switzerland have taken no 
stance on the matter. 


Lars Windhorst is a wunderkind if ever 
there was one. Two years ago, aged 16. he 
founded an electronic components company, 
with help from his elders. Since then, his 
Windhorst Group has expanded to include 13 
films, with turnover in its first year of 80 
milli on Deutsche marks. But the whole time, 
his father had to sign his checks, and his 
mother drove him to work each day. AD 
young Lars wanted was a Mercedes sports 
car. On Tuesday, his 18th birthday, he got his 
wish. 

Brian Knowlton 


Rebel Agrees 
To Meet With 
Angola Head 

Compiled bf Our Staff From Duptadtes 

SAO TOME, Sac Tome and 
Principe — Jonas Savimbi. 
leader of the rebel movement 
UN1TA, has given his backing 
to the latest peace agreement 
with the Angolan government 
and has agreed to meet with 
President Jos6 Eduardo dos 
Santos, UN1TA radio said 
Wednesday. 

Mr. Savimbi, who failed to 
attend the signing of the accord 
in the Zambian capital, Tjisaka, 
announced his endorsement of 
the accord and his willingness 
to meet with Mr. dos Santos in a 
letter to Madeleine K. Albright, 
the chief U.S. representative at 
the United Nations and this 
month’s president of the Securi- 
ty CounciL 

The radio did not say where 
or when a meeting might occur. 

It was Mr. Savimbi 's first 
public comment on the UN- 
brokered peace accord since it 
was signed by officials of the 
two sides on Sunday. 

The UN special representa- 
tive, Alioune Blondin Beye, 
said Wednesday that the cease- 
fire. which halted 19 years of 
civil war, was holding 

“As far as we know the cease- 
fire is being observed by both 
sides," Mr. Beye said at what 
was called his final news confer- 
ence in Lusaka, where he medi- 
ated a year of peace talks. 

Mr. Beye sad military dele- 
gations of the two sides' would 
continue meeting this week to 
exchange military intelligence 
now that the fighting had 
ceased. UNTTA, the National 
Union for the Total Indepen- 
dence of Angola, has refused to 
divulge any details about its 
military operations until the 
fighting stops. (Reuters. AFP) 



Ixk Dataghian/RniKr, 

PARIS PROTEST — Tens of thousands of public service workers participating in a 
strike called Wednesday by French labor unions to promote employees’ rights. 


Yeltsin Digs In on Estonian Claim 


Reuters 

PSKOV, Russia — President 
Boris N. Yeltsin stood on Rus- 
sia’s disputed border with Esto- 
nia on Wednesday and vowed 
Moscow would not give up 
“one single centimeter" of land. 

The Baltic country is de- 
manding the return of 2,000 
square kilometers (800 square 
miles) of territory now in Rus- 
sia that belonged to it before 
World War II. 

But Mr. Yeltsin, on a brief 
visit to the border point of Kun- 
ichina Gora. declared: “We will 
not give up one single centime- 
ter of land no matter *vbr- 
claims it.“ 


Foreign Minister Andrei V. 
Kozyrev, accompanying Mr. 
Yeltsin, urged Estonia to drop 
its claim. 

“The sooner our neighbors 
realize the senselessness and 
pointlessness of raising territo- 
rial claims." he said, “the soon- 
er the possibility to settle the 
border will occur ” 

The land Estonia wants re- 
turned belonged to it between 
1920 and 1940, the year the So- 
viet Union annexed Estonia. 

Russia began erecting a fence 
last August along the existing 
border after Tallinn renewed its 
claims. 


There was no immediate sub- 
stantial reaction to Mr. Yelt- 
sin’s visit from Tallinn. But the 
Estonian foreign minister. Juri 
Tjiik, in a comment to Hommi- 
kuleht newspaper made ahead 
of tiie visit, said Mr. Yeltsin’s 
trip could hardly be seen as 
friendly. 


t'^. Troops Leaving Kuwait 

Reuters 

CAMP DOHA, Kuwait — 
U.S. troops, rushed to Kuwait 
after Iraq’s October border 
buildup, will complete their 
pullout b> mid-December. 



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Page 8 


INTERNATIONAL HERALD TRIBUNE, THURSDAY. NOVEMBER 24, 1994 


BOOKS 


THE COMING PLAGUE: 
Newly Emerging Diseases 
in a. World Out of Balance 

By Laurie Garrett Illustrated. 
750 pages. $25. Farrar, Straus & 
Giroux. 

Reviewed by 
Michiko Kakutani 

E verybody knows that 
pestilences have a^way of 
recurring in the world,” Albert 
Camus wrote in bis 1948 novel 
“The Plague," “yet somehow 
we find it hard to believe in 
ones that crash down on our 
heads from a blue sky." 

In “The Coming Plague," her 
prodigiously researched new 
book, Laurie Garrett, a writer 
for Newsday, draws a frighten- 
ing portrait of the myriad infec- 
tious diseases threatening man- 
kind: both familiar ones like 
malaria, tuberculosis, cholera, 
bubonic plague, yellow fever, 
syphilis and AIDS, and the 
newly emerging viruses and 
bacterial infections that scien- 


tists are only just beginning to 
identify and fight. 

Included in her survey are 
discussions of Legionnaires* 
disease, swine flu. the rodent- 
borne hantaviruses, toxic shock 
syndrome, E coll contamina- 
tions. Lassa fever and the dead- 
ly Marburg and Ebola viruses. 

Garrett's overall assessment 
is gloomy: “That humanity had 
grossly underestimated the mi- 
crobes was no longer, as the 
world approached the 21st cen- 
tury, a matter of doubt," she 
writes. “The microbes were 
winning. The debate centered 
not on whether Homo sapiens 
was increasingly challenged by 
microscopic competitors for 
domination of the planet; rath- 
er, arguments among scientists 
focused on the wbys, hows and 
whens of an acknowledged 
threat." 

Compared with Richard 
Preston’s best seller “The Hot 
Zone," which focused on a 
handful of vims hunters and 
biohazard specialists and their 
efforts to track down and con- 


BRIDGE 


By Alan Truscott 

T HE North American Pairs 
Championship, popularly 
known by its original name, the 
Grand National Pairs, starts at 
the grass roots and permits 
players to earn a free trip to a 
national final. One of the oldest 
players to advance to this final 
in the open category is Luella 
Slaner, 75. Her partner is Marty 
Bergen. 

On the diagramed deal East- 
West can make a borderline 
slam, but most partnerships 
were content to play three no- 
trump and score 690. Bergen, 
trading on the vulnerability, 
ventured a pre-emptive bid of 
three clubs and was doubled 
firmly on his left. He was now 
in a top or bottom situation. If 
he could make six tricks, losing 
500, he would have a top score, 
but making five tricks, losing 
800, would be a bottom. 

The defense led and contin- 
ued hearts, and South discarded 
diamonds on the third and 
fourth rounds. East should no 
doubt have shifted to a spade, 
but he led the diamond king 
and South ruffed. He led a club, 
and West put up the queen and 
led a diamond. 


WHAT THEY'RE READING 


• Carolyn KIzer, Pulitzer- 
prize winning poet, is reading 
the poems of Miroslav Holub. 

“For many years, he was a 
nonperson in Chechoslovakia as 
a writer, but he managed to 
survive because he is also an 
endocrinologist. His poems 
bring wonderful combinations 
of science and art." (HIT) 



South ruffed and led the 
trump king . West might well 
have ducked this, but he took 
his ace. R eturning the dub nine 
would have left him in control, 
but he made the fatal error of 
shifting to a spade. South took 
the queen ana ace of spades, 
and was down to 10-7-6 of 
trumps. West held 9-8-3, and 
could only score one trick when 
South ruffed a spade with the 
club six. Bergen had escaped for 
500 and had his top score. 

NORTH 
4 A843 
T 9832 
•> 10 9 3 2 

* J 

WEST (D) EAST 

♦ KJ7 ♦ 10 9 5 2 

v A 5 7KQJ10 7 

C-QJ4 OAK86 

* A Q 9 S 3 *- 

SOUTH 

♦ Q6 
7 64 
: 53 

*K 10 765-12 

East and West were vulnerable. 
The bidding: 

West North East 

1 4 Pass 1 T 

Dbl. Pass Pass 

West led the heart ace. 


tain the lethal Ebola virus, “The 
Coming Plague” initially seems 
unwieldy, disorganized and dry. 

Garrett does not have Pres- 
ton’s breezy storytelling skills, 
and her ambitious agenda — to 
create a comprehensive anatomy 
of contemporary microbial dis- 
eases — precludes the sort of 
narrative suspense Preston ex- 
ploited to such effect in his book. 

What “The Coming Plague" 
may lack in superficial drama, 
however, is more than made up 
for by Garrett's gutsy determi- 
nation to situate her subject in 
the larger landscape of recent 
social, political and ecological 
developments. The result is a 
sober, scary book that not only 
limns the dangers posed by 
emerging diseases but also 
raises serious questions about 
two centuries worth of Enlight- 
enment beliefs in science and 
technology and progress. 

Garrett contends that many 
recent scientific and social de- 
velopments have actually 
worked to amplify the range 
and virulence of dangerous mi- 
crobes. Hie widespread use of 
antibiotics and other drugs has 
led to a host of mutant strains 
of microbes, resistant to all or 
most treatment, including peni- 
cillin-resistant staphylococcus, 
antibiotic-resistant pneumo- 
coccus. chloroquine- resistant 
malaria, acyclovir-resistant her- 
pes. AZT-resistanl HIV and 
multiply drug-resistant tuber- 
culosis. 

The use of DDT to control 
malaria-carrying mosquitoes 


S 


has similarly backfired, she 
says, leading xo declining diver- 
sity in the insect world and the 
eventual resurgence and spread 
of disease- bearing mosquitoes. 

Other man-made alterations 
to the environment, she adds, 
have also had unforeseen oonse- 
uences. Deforestation in 
forth and South America has 
led to changes in the region’s 
flora and fauna, which in turn 
have led to significant shifts in 
the microbe population. One 
such shif t. Garrett says, has 
contributed to the recent spread 
of Lyme disease, an ailment 
carried by the 1. dammini tick, 
which has proliferated in de- 
nuded forest areas in conjunc- 
tion with a rapidly expanding 
deer and rodent population 
Treed from such natural preda- 
tors as cougars and wolves. 

Social developments, too, 
Garrett says, have unwittingly 
aided the microbial assault on 
humans. The growing urbaniza- 
tion of Third World countries 
has created dense population 
centers where poverty, poor 
sanitation and overextended 
health care systems combine to 
create tbe perfect conditions for 
an epidemic. 

At the same time, cheap and 
accessible air travel has helped 
create a global village in which 
microbes can migrate from one 
remote ecosphere to another 
within days, even hours. 

Michiko Kakutani is on the 
staff of The New York Times. 



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for a 

Joint Purchasing Agency 


Delta Air Lines, Swissair and Singapore Alrflnes, partners in Global 
Excellence, are forming a purchasing agency to undertake sourcing 
of commercial items for the three airlines. They seek to appoint a 
General Manager to head the agency which will be based in Zurich. 

The General Manager will be required to: 

develop global sources of supply to bring about maximum savings for 
the 3 airlines / direct a team of multi-national staff / be responsible for 
the successful operation of the agency / build a seamless organiza- 
tion between the agency and the airlines. 

The position entails substantial -travel. 

Qualifications and background: 

Entrepreneurial / Innovative / Aggressive / Self starter / Outstanding 
written and oral skflls / Familiarity with business software applications / 
Multilingual (English and German are essential) l 8 years international 
purchasing, sourcing and logistics experience / Management of an 
Independent profit center with P&L responsibility / Familiar with 
international law and accounting practices. Salary wBl commensurate 
with qualifications and experience. 

Please address your resume to: Swissair, Personnel Servioe/PUW, 
80 S8 Zurich -Airport, Switzerland. 


AjDEOX 

AIRLINES 


sinGAPone 

AIRLItlES 


% 


swisscar 


Our client is an international consultancy company trading throughout 
Europe, and port of large UK/US Gmup. Rn- ihe European Headquarters 
located in Neodifitcl, Switzerland, wc ate seeking a 

Financial Controller 


our tasks: 

iupovisc a small (cam wn eking no 
nulli-cuttvflcy accounts 
Mcrfacc. liaison and consol idal inn of 
csulis with UK Gmup 
td\ iw and assKi fichl-hasol 
rmployccs in Swii/crtand and all EU 
■ountnes on tax. stxial security and 
Hsu once matters 



Your profile: 

• You have accounting qualifications 
with experience in tax and 
employment matters 

• You have siting ahifty to propose and 
advise on business expansun 

pbns 

• You an: fluent m English and .speak 
anther Eumpcan language Citnputcr 
litende 

■ You arc motivated hv success 


Your applies l Jon will be Irealcd in Dill confidence. Dor, send M under 
ref. js 944425 In < >K ( ’A DR US, rw des MnuliiK 51, 2000 NKUC1IATKI, 4 


YOU SAW 
THIS AD 

\ So did nearly half 
a million well-educated, 
influential and 
successful readers. 

Shouldn't you loo place 
your recruitment ads in the 

INTERNATIONAL 

HERALD 

TRIBUNE? 


.. \ 


(Viskase) 


Business Manager 


Viskase. a US muld-national corporation, b a leading food 
packaging manufacturer In Europe with locations In UK. France, 
Germany. Italy, Spain and Russia. 

Applications are Invited for a key position of BUSINESS MANAGER 
based at our Swansea plant which manufactures our multi-layer 
shrink banter dims for meat, poultry and cheese products. 

Reporting to the CE.O. Europe you will be responsible for the 
profitability of this product Une and will co-ordinate, develop and 
implement business strategy for Europe. This will be achieved by 
direct Involvement with the production, distribution and financial 
organisation at Swansea and by dose Dalson with the affiliate 
companies throughout Europe. 

The Ideal candidate will have a minimum of: 

- Four years' exposure at European level In an equivalent 
management position. 

- Be proficient In at least one other language. 

- Educated to Graduate level. 

A competitive remuneration package Is available. 

If Interested, please send your CV, explaining bow you meet 
the |ob requirements and quote ref. no. HT 1 tor 
J P Joynes, Human Resource Manager, Viskase Ltd., Salters 
Lane, SedgeHekl, Stockton on Tees, Cleveland TS21 3EA. 


Media Sales 
Professional 


As part of the International Herald Tribune’s continuing 
expansion program, we are seeking a highly motivated 
sales professional to join our German office in Frankfurt. 

The successful applicant win be articulate and persuasive 
and wifi possess excellent presentation skids to capitalise 
on new business opportunities and develop existing 
accounts through client and agency contact. 

Candidates should have at least 3 years sales experien- 
ce and must be fluent in German with a good command 
of English. 

Ideally, candidates should have a previous track record 
in Eastern European countries, as part of the assignment 
will consist of development of our advertising and circula- 
tion business within this territory. 

Applicants are invited to write in the first instance, 
enclosing a full C.V. to; 

International Herald Tribune GmbH 
Mr. Thomas Schluter 
Frkedrkhstrasse 15 
D-60323 Frankfurt 

IXTEHMTHIYU. 


OECD 


OCDE 


MRS 


ORGANISATION FOR ECONOMIC 
CO-OPERATION AND DEVELOPMENT 

The OECD i< an international organisation based in 
Paris. France and is seeking candidates lo fill ihe 
following temporary positions (up lo one year) in the 
Directorate for Computers and Communications. 

Help Desk -experienced support person to provide first-level 
intervention for users of desktop and network application 
software, based on the Microsoft range of products. 

Desktop Applications Unit - experienced developer of networked 
applications based on the Microsoft range of products. 

Workstation Support Group - experienced technician for the 
installation and repair of desktop equipment. 

Network Computing Unit - experienced Novell Netware 
adminisimor. preferably CNE qualified, with cumrm 
experience in enterprise network environment. 

Online Systems Unit — experienced LOTUS Notes certified engineer to 
work in a group responsible for development of global 
online information systems. 

Excellent knowledge of one of the official languages of the Organisation 

(.EnglisTi/Firench) and good knowledge of the other. 

Only nationals of OECD Member countries* are eligible to apply. The 

OECD is -an equal opportunity employer and encourages applications 

from female candidates. 

Applications enclosing detailed CV specifying reference DCC/IHT/94 

should be sent by XX November 1994 to: 

OECD - Human Resource Management Division ( U2j 
2. rue Andre-Pasca! - 75775 Paris Cedex 1 6 
Fax: (+33> I 45 24 79 1 1 

Only shnrr-lisieti candidates will receive an arkHuwkJttement. 

* Australia, Austria. Belgium. Canada. Denmark. Finland. France. 

Germany. Greece. Iceland. Ireland. Italy, japan. Luxembourg. Mexico. 

Netherlands. New Zealand. Norway. Portugal. Spain. Sweden. 

Switzerland. Turkey. United Kingdom. United Stales. 


CONSULTANTS 

AMDEAST, a non-profit educational 
and training organization 
s p ecM tong in the MHde East end 
North Africa, seeks long and short- 
term personnel for projects 
involving legal and jixfiriai training 
and jutficiai sector computer 
automation. 

CandUafas must have a minimum 
of io years experience in any of 
the following areas: USAH3 project 
m ana gement - (overseas): Judicial 
educatiorVadministration, Jutficiai 
sector computer automation, 
trahing for judges and lawyers esp. 
in commensal law, international 
corfrads law, alternative depute 
resohUon mech an is m s. 

Work experience in the Mddle 
Easi/North Africa region and Arabic 
proficiency, knowledge of 
Napoleonic Code strongly desirable. 

Please maiffax resume by Dec. 15 to: 
Bridget UcHamer 
AUDEAST 

1100 17th Street, NW. Suite 300 
Washington, DC 20036-4601, USA 
Cont FAX: (503) 721-5842 


EXECUTIVE 
POSITIONS AVAILABLE 

BOUTMUE MANAQHt Eo. mpoi 
hoary good s im. 5 year sales 

E jOM ienc E lamd. bftnaral French. 

Engbh. Sabir + perorSw. Ptecw 
sand CV and letter to Sox 3776, LHT, 
92521 Ntt4y Cwfer, France. 

EXECUTIVES AVAILABLE 

TRHJNGLML MBA. 10 ym USA e. 
pm*?, nnondaf and infonna&on 
system mwu me r. cod c oft at 
Parie Eoudw. Pans Tefc 1-43 72 31 72 


FRENCH RNAMZ BGECUnVt 
Fh*rf Ei^sh and sohd badugraund «i 
finance, pMehng imfesfry i a new 
managwiM p o r t i on in Pens n a 
merfwn see orgenarion. CV upon 
request. Contort 33 {1) O 73 73 80 

HIGHLY QUAUHHJ MANAGER 
rterested m Mtobfe position. Experi- 
ence in top level mongeneni, nefos- 
rry. bairg ond finonra, mternaliand 
trade. MctSe. Eugfah, Rarmaan and 
JWsew. HeaM contort: 'Conddrte". 
Fax + +• 972-9-951653. 


GENERAL POSITIONS 
AVAILABLE 


SAP R/3, ABAP 
in the U.S. 

Telted i CarpanAan a a learfrg 
cwawteig Firm a for over 20 

yemt, an mtobfahed reputaim far 
lednod topheftafton 4 awefcnee. 
Wo receNty came » Germany an a 
remtonew top, seeking SAP propmv 
nws tor innetfote cosAb oppartv- 
itoes m the Ui 


Ub top was so successful that we me 
mw (An any a second trip so imel 
individuals with solid SAP R/3 
ABAP p. 


Iha is an idecd oppommrt y lo expand 
iw areer horizons by wodang m the 
US. for mi uluUulin impnted he 
where you vwl receive a posman 8 
lol my tofa ed to fo your individual 
recpventerft. fpfods bom G ermmy 
& oto EC courttoes are enoauraged to 
apply- We vdl orange convenenl 
mwyiewi in the reo tana. Fra Further 
•wUKtoB or to sdeddc an eaernew, 
(toow send/fax yaw resume to. 

Ms. toodo Gov 

TeTTedi Ccrpofolion 

CarparOe Haadquotos 
3® Broadway 
New YarV, NV 10006 

Phone j?J3 5J4-5I40 

ftp; piq 5t*-5HM USA 


MnCARBtOPTORItNrr 

We are ai inti P9ESS & ADVEKH9NG 
AGS4CY soaking sales caarrMon. 
kfcdfy you ere: 

• Bet ween 24 cod 3D y eras (AL 

• bKcfaf appearance. 

• Eicnfienl command of En^sh, French 
a*f bmwtedg e of Sponch 

• Dynamic. m*avort, oraifidard. optv 
mjtic. nfeperefetf. wH-motooted- 

• Pryja d to tr avel I Q months a year 
idti residency (tod odendod sloyi m 
dffeer cartm 

• Na enpanenoe n» Idas necewory. 

The iob era* contorts on the highest 
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If you think yon have the drive and are 
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c/oNOA 

91, RUE DU BG ST H0N0RE 
75008 PARIS 

HOIH. RUBBS - GROTt MARXT, 
Oude Bears 29. 2000 ANTWHPB4 s 
looking for a hiwrJjr. heiphf and 
independent recephonist. Ftoorrt 
knowledge of Dutch, french, German 
and Engvsh is a musL Please send 

oppSaflions with photo to above ad- 

^re^^^je^Wno^^^^ctoy. 

GENERAL POSITIONS 

WANTED 

HUNGUAL TRANSLATOR (Germon/ 

base French. 29, enaetert 
/nefitork knowledge seeks dwl- 
pastor with to ie r n anonal gr- 

-ton/ertreptt n eur, pteferdbjy m 

WB idoate. H /45J824J/ 

7266. Fa. 1498262/2023 

AMB0CAN CPA with 10 years e*pe- 

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aocourtins. seels u oco u rtn g or od- 
nvnistr orion position wtfi mufainoriorad 
firm in LUGANO, Swuzefktod VM 
penal. Tek +41 .9) ,47.24.1 5. 
FRBiOtMAN, 35, 3 rears Q*ge. 
sfxafa Engtsh 8 Spnsh. pitot B*pe- 
rreice, Setts p b as waiter, Irrattfcvor. 
rhouffaur or new opportun it y. Fnn» 
or Europe. Tet FWB34) *237 3171. 

EXPBHBKED DUTCH MAif, 37, fto- 

ert Engfish/ German, many yrs execu- 
bve secretray. seeks portion with Ml 
compsiy in Holand Rcqfy to tefer- 
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AROWECT 33, BASS » 

seeks a new caeer 

+ 49-8989813821 oh 

300671, Gennaiy, 

SB 5AISON7 Angktoe recherche ph 

bureau rai 6.^8312 Cat 
SECRETARIES AVAILABLE 

TRHJNGUAl COMMSH3AL secretory 

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EXECUTIVE SEO0AKY. fluent French, 

Englnh, Dutch some German, web job 
_mSCTJttioliTrace Cc4 hte 9316 IB49 

EDUCATIONAL 
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MGUSH SCHOOL sects novice mother 
tongue Engfcsh teacher*. Work permit 
oafoafory, hAtene bears. Pletse cd 
SrePI 440999 22. 


a M MUNOi 

oSr-JfcS: 


IntenKrtional 

RecniitmenF 

Every Thursday 
Contact 

Philip Oma • 
Tel.: (33 1} 

46 3793 36 
Pax: (33 1) 

46 37 93 70 
or your nearesf 
IHT office 
°r representative 


















X. 


«• 


vJvmJj 


O' 


iSo 



Page 9 


HEALTH /SCIENCE 


1 m 



Arctic Tribe in Russia May Be Key to Migration Mystery 


*■!> 




---!!**» 
j.*.. *x 

4-. *.-• •••'> 



VUft? 


By Michael Specter 

New York Tunes Service 

S ALEKHARD, Russia — a no- 
madic tube of reindeer herders 
who dress in skins, practice ritual 
sacrifice and have been using the 
same types of homemade tools and wood- 
en^ for more ihan 1,000 years may 
hog Jte.key to a mystery that has long 
baffled archaeologists. . 

The Nenets, who wander across the 

. northernmost reaches of the Siberian arc- 
tic, eat raw fish, drink reindeer blood and 
live year-round in reindeer-skin tepees 
called chums. 

- Last summer archaeologists came upon a 
group of about 1,000 Nenet reindeer herd- 
ers who have had almost no contact with 
Western culture. Archaeologists long eager 
to connect the ancient peoples of Scandina- 
via to the Eskimos of the New World thou- 
sands of miles away say that this group may 
help provide the missing dues. 

And they may do more than tha t The 
Siberian arctic is one of the last places on 
earth unknown to archaeology. Archaeolo- 
gists and anthropologists had assumed 
that northern peoples lived in the arctic 
out of necessity, and that over time they 
grated south. But the Nenets, who have 
'preserved and extended a cultural heritage 
that may be 10,000 years old, could pro- 
vide the best proof yet that humans not 
only can adapt to the. harshest possible 
conditions, they may choose them. 

“1 could hardly believe mv eyes when we 
stumbled across them," said Dr. William 
W. Fitzhugh, director of the Arctic Studies 
Center at the Smithsonian Institution's 
Museum of Natural Histoiy, describing 
his encounter with the Vanuyto-Serotto 
clan of the Nenet people. Dr. Fitzhugh 
spent much of last summer on the Yamal 
peninsula, where he and a group of Rus- 
sian ethnographers and anthropologists 
came upon the group of isolated Nenets. 

The scientists were on the peninsula 
attempting to survey a huge area of the 
archaeologically unexplored Siberian arc- 
tic coast. What they found, to their sur- 
prise, was the living equivalent of an im- 
portant archaeological treasure. 

This month Fitzhugh and a small team 
returned here 1.200 miles (1,930 kilometers) 
northeast of Moscow to finish reporting on 
their findings. “It was if we were on the 



Michar) SpevmvThc Nw Vra* Train: Winiara Ftahugh 

Nenets reindeer herders with dogs and sled at their winter camp near Salekhard in the Russian arctic; a leader of Vanuyto-Serotto clan of the Nenets with his grandson. 


Great Plains in the 1830s," he said. "They 
live with no connection to the modern 
world. They drive their herds nearly 1,000 
miles every year and (hey wiU forgo any 
convenience to preserve their way of life." 

By discovering bow the Nenets survived 
when so many other indigenous groups 
have succumbed to the rapid pace of mod- 
em life, and by seeking their origins and 
understanding' their traditions, the re- 
searchers hope to understand the compli- 
cated cultural landscape of northern Sibe- 
ria and bow this culture maintains its 
traditions in the midst of industrialization. 

Migrating across the Yamal peninsula, 
where the Ob River and the Ural Moun- 
tains meet the arctic coast, the Nenets have 
flourished in one of the most inhospitable 
places on earth. At least 5.000 Nenets still 


follow the traditional nomadic ways, while 
thousands of others have opted for a 
slightly more conventional life in settle- 
ments as fishermen. 

Despite temperatures that dip to minus 
60 degrees Fahrenheit in the winter and 
soar to 95 degrees Fahrenheit in the sum- 
mer (minus 50 to plus 35 centigrade), de- 
spite 70 years of Soviet power and despite 
their migratory habit of wintering near 
here on the taiga and traveling with their 
herds to summer pastures in the central 
and northern Yamal, thousands of Nenets 
exist as if they lived in the fifth century. 
Some of them appear never even to have 
known there was a Soviet Union. 

“They are fanatically motivated to pre- 
serve their traditions, their language and 
their rituals," said Igor Krupnik, a leading 


ethnographer with the Russian Academy 
of Sciences who. working with the Smith- 
sonian group, has focused on the cultural 
heritage of the Nenets. “No arctic people 
that we know of have persisted for so long 
and so defiantly." 

The Nenets nomads rarely depend upon 
outside sources for their food, living on 
reindeer, fish and whatever else they can 
forage from the forbid ding arctic soiL Other 
than ceramic teacups, which are common, 
most of what they use is made by hand. 

They believe in shamans, who have tre- 
mendous power over their clans, which are 
essentially large extended f amili es. The 
people believe that certain stones with un- 
usual shapes are remnants of the gods who 
have guarded them for millenniums. They 
live by proverbs as simple as “If you don’t 


eat warm blood and fresh meat, you are 
doomed to die on the tundra." 

While many of these people speak Rus- 
sian, their daily conversations are carried 
out in Nenets, one of the Finno-Ugric 
languages. When they sacrifice a reindeer, 
they split the animal in half, starting at the 
skull. They eat half and leave the rest as an 
offering to the gods. The Nenets have an 
extensive oral tradition, practice elaborate 
religious rituals and have covered the Ya- 
mal peninsula with devotional displays. 

The histoiy of arctic peoples has been one 
of the most enduring and perplexing ques- 
tions in the world of archaeology. Scholars 
have searched for 300 years to find out 
whether the Eskimos of Greenland and 
Canada are related to other northern peo- 
ples, and they have tried to discover 


whether their origins were the same. 

There have been dramatic finds and tan- 
talizing clues. On Zhokov Isiand. in the 
New Siberian Islands north of Russia, ar- 
chaeologists have found an 8,000-year-old 
Mesolithic encampment, the earliest and 
most northern settlement known in the Rus- 
sian arctic. Among the relics found were at 
least one perfectly preserved wooden sled 
that bears an uncanny similarity to the 
wooden sleds Nenets tribesmen use today. 

“Linking these people or their develop- 
ment is the Holy Grail of northern archae- 
ology," said Dr. Fitzhugh. “The question 
for us is, are these people related — did 
they come from a common source — or 
does the harsh environment on which they 
have settled explain the remarkable simi- 
larities among them?" 


Baker’s Y east Naturally at Odds? Yeast and the Common Cold 


Ethics of Gene Research 



May Harbor 
Cure for Cold 


Hopma tc produce a vaccrs researcners made an accidental discovery: the cold 
virus .vouid not reprocuca msiae yeas*, cells, which ordinarily make ideal hosts. A 
quirky structure! si^Mercy osr.veen cola-virus SNA and the yeast molecule, it turns 
our. combines -vii'n a pec jiis'-V r :ne v.-us's protein-synthesizing mechanism 
and halts reproduc?or: 


By Gina Kolata 

V«i' York Times Service 


•V. 


By Sandra Blakeslee 

'Sew Y ork Tones Service i. ' • - ' 

N EW YORK —Ordi- 
nary baker’s yeast 
may harbor a cure foe. 
die co mmon cold, ac- 
cording to a scientist who says 
he made the discovery by acci- 
dent. 

Hidden in. the genetic ma- 
drinoy of yeast is a molecule 
that prevents cold viruses from 
replicating inside human cel ls, 
said Dr. Asim Dasgupta, a pro- 
fessor of microbiology and im- 
munology at the University of 
California in Los A n g e les. 

When this molecule is dif- 
fused into human cells — so far 
this has been done only in a 
laboratory dish — the virus is 
stopped dead in its tracks; it 
can no longer spread to other 
cells, he said. 

The molecule also stops the 
spread of polio, hepatitis A and 
Coxsadde virus, which belong 
to the same family as the com- 
mon cold virus, Dr. Dasgupta 
said. But it has no effect on 
other famffies of viruses, includ- 
ing influenza virus. If the mole- 
cule lives up to its early prom- 
ise, Dr. Dasgupta said, it will be 
the most precise antiviral agent 
ever discovered. 

Other antiviral drugs exert 
their effects on host cells as well 
as cm the viruses, he said, 
whereas the yeast molecule ze- 
roes in on a caudal step m add 
virus 
host 



_ a a caruaai ^ C 
s replication and leaves the 
; cell alone. 

Nevertheless, it will be at 
least two years before the yeast 
molecule is tested in humans. 
As with any new drug, there 
could be side effects. 

The discovery of the yeast 
molecule is described in The 

Journal of Virology. The Uni- 
versity of California recenuy 
patented the discovery, Dr. 
Dasgupta said. 

Experts on viruses are cau- 
• enthusiastic about the 
r. “It’s very intriguing. 

" " :,aprofessor 


of microbiology and molecular 
genetics at the University of Cai- 
tfbriua in living "But in the long 
nut this might just delay or slow 
down a viral infection instead of 
stopping it.” 

Th-. Nahum Sonenberg, a mo- 
lecular biologist from McGill 
University in Montreal, said the 
molecule could have unforeseen 
effects on the human immune 
system. The discovery is “veiy 
exciting,” he said, “but translat- 
ing it into a cure can raise many 
problems.” 

The yeast molecule, which is 
made of ribonucleic add, or 
RNA, is a case of “scientific 
serendipity,” Dr. Dasgupta 
said. Last year, the UCLA re- 
searchers woe doing experi- 
ments on picoraa viruses — a 
family of viruses that are com- 
posed of a single strand of RNA 
surrounded by a protean coat. 

Compared with other vinises, 
picorna viruses are exceptional- 
ly small and have their own pe- 
culiar way erf reproducing, Dr. 
Dasgupta said. The common 
cold virus, with more than 100 
different strains, is a leading 
member of this family. 

. Researchers are making 
headway cat understanding how 
the molecule works. After a pi- 
coma virus commandeers ge- 
netic machin ery inside a cell nu- 
cleus, it sends messenger 
molecules out into the cyto- 
plasm where proteins are made. 

Protein synthesis factories, 
called ribosomes, float in the 
cellular soup, waiting for sig- 
nals from the messengers. 
When the signals are working 
property, the ribosomes and 
messengers (which carry genetic 
copying instructions) dock at 
precise points and protein syn- 
thesis begins; new viral parti- 
cles are made and set loose to 
infect other cells. 

Picoroa viruses are unusual 
Dr Dasgupta said, in that ribo- 
somes dock directly onto an in- 
ternal site on the messeraer. 

' Most cells, including human 
ceils and yeast cells and most 


COLD VIRUS 

snxrs a 
human z&.; 
and sheds 
Its coal 






VIRAL RNA 


0 Co-opting the host's protein-making machinery 

'■wYhen a rining protein recognizes a landing site on the RNA 
srs-ji. ■; decks cn, signalling a ribosome to do the same. 

TT.e RNA passes through the ribosome, deWenng genetic 
ir.fcrrr3t<or. about itself — initiating the synthesis ol 
prea.-^s 1= make copies of 
the virus. 


•***. • • .• 
*■«.■ -■ 

\ RNASTRVC 


STEPS IN COLO VIRUS 
REPLICATION 


&NCBC3 

PPOTCW 


RNA 


V 


£ 


. RSOSOUE 




Finding tlw tools to reproduce 
Floating in the host cell's cytoplasm, 
viral messenger RNA searches for 
binding proteins it needs to attract 
ribosomes — the coifs "factories' for 
making new proteins. 


eiNCBNa 

STTE 


Yeast 
Interferes 
hers • 



Q ...that 
leave the 
host cell 
and mfed 
other cads. 


NEW 

VIRUS 




..ml.** 1 ' 


PROTEIN 


Making copies: 

The next generation 
The ribosome moves along the 
RNA. synthesizing proteins, which 
develop Into new virus molecules . . . 


COMPATIBLE QUIRKS: How yeast inhibits cold virus replication 

Unflke human ceBs and most other viruses, the cold virus gets its critical "start" signal (s tep 2, a bove) at 
an interne/ binding site on its RNA; human cells use a site at the end of the strand J1 so happens that 
yeast molecules are structurally similar to the internal binding site. In effect, they serve as decoys; 
binding proteins, mistakenly seeing them as RNA, dock an. Ribosomes never get the start signal, so 
protein synthesis cant begin. 


£ 


EW YORK — Ethi- 
cists say that new 
work on sperm stem 
cells could have a vari- 
ety of consequences, ranging 
from potentially beneficial to 
deeply troubling. 

A scientist has developed a 
technique that can allow the al- 
teration of genes in sperm, pass- 
ing the changes to the animal's 
offspring. The experiments, by 
Dr. Ralph Bri aster of the Uni- 
versity of Pennsylvania and his 
colleagues, were on mice, but he 
and other experts in biology 
and ethics stresses that they 
opened the door to similar stud- 
ies in large animals, and eventu- 
ally also in humans. 

The research is giving some 
ethi cists pause because it en- 
ables the adding or deleting of 
genes from sperm stem cells. 
Since any genetic manipula- 
tions will be inherited in perpe- 
tuity, this sort of germ-line gene 
therapy has always been regard- 
ed with trepidation. 

Could such a genetic experi- 


ment go awry, creating dread 
diseases in generations to 
come? Or could the line be- 
tween curing disease and en- 
hancing the human race be- 
come so blurred that parents, as 
a matter of course, change their 
genes to insure that their chil- 
dren, and their children's chil- 
dren, are svelte, smart and ath- 
letic? 

Until now. these were hypo- 
thetical concerns. Although sci- 
entists are already adding genes 
to cells, like lung or liver cells, 
that die with an individual uo 
one knew how to change the 
genes of sperm or eggs. 

“Generally speaking, the be- 
lief was that germ-line gene 
therapy was a far-off possibili- 
ty,” said Dr. Ronald M. Green, 
a professor of religion and di- 
rector of the ethics institute at 
Dartmouth College. Nonethe- 
less, be said, “the consensus as I 
understand it in the bioethics 
community is extraordinary 
wariness." 

It is one thing. Dr. Green 
said, to introduce new genes — 
ones that will not be inherited 
— in “a desperate attempt" to 
treat a disease. Even then, sci- 


entists cannot say for sure 
whether the gene therapy might 
not have some dire consequence 
in decades to come. 

But it is another thing entire- 
ly. he said, to alter a person’s 
lineage. “It opens the possibili- 
ty of creating new and serious 
genetic disorders.” he said. 

AJia Charo. a lawyer and eth- 
icist at the University of Wis- 
consin, said there was also a 
genuine debate among scien- 
tists and ethicists over whether 
science should even try to elimi- 
nate genetic diseases through 
germ-line therapy. 

The idea is that some of these 
disease-causing genes may have 
a purpose that scientists do not 
understand. By eliminating a 
disease, humans might forgo 
the even greater benefits that 
might accrue if they could un- 
derstand the gene’s purpose. 
Added to that is a concern 
about “the deliberate extinction 
of anything,” Ms. Charo said. 

But some diseases, she said, 
are “so devastating that to pre- 
vent them would always seem 
to justify new techniques, in- 
cluding germ-line therapy." 


IN BRIEF 


RIBOSOME 



YEAST 

MOLECULE 


BINDING PROTEIN 


Q*. 




RNA 


BINDING SITE 




other viruses, have a different 
docking mechanism for carry- 
ing out protein synthesis. 

Before internal docking can 
occur, a protein factor found in 
cytoplasm must first make its 
way to the internal binding site. 
Dr. Dasgupta said. Once in 
place, this factor signals the ri- 
bosome, saying in effect, let’s 
mak e new proteins. 

The yeast molecule interferes 
with this step in the process, Dr. 
Dasgupta said. 


But is this a cure for the com- 
mon cold? 

“I thmk h could be,” Dr. 
Dasgupta said. Using cloning 
techniques, the researchers have 
created a snippet of the yeast 
molecule that seems to work as 
well as the whole molecule. The 
snippet is small enough to dif- 
fuse directly across cell walls 
and get into the cytoplasm, he 
said. 

At the first sign of a cold, 
people could spray the yeast 


Mega Jif g mninn /The New York Tina 

molecules into their noses or 
throats. Dr. Dasgupta said. The 
molecule would stop the cold 
virus from replicating but 
would not interfere with a cell’s 
own protein synthesis, which 
uses a different pathway. 

It would not do any good to 
try to ward off colds bv eating 
baker’s yeast or putting it up 
the nose. Dr. Dasgupta said To 
be effective, the yeast molecule — — . 
must be highly purified, con- appear 
centra ted and reduced in size. the resi 


Dead Sea Scrolls Now on Disks 

JERUSALEM (AP) — Israel's Antiquities 
Authority has released an animated computer 
disk on the Dead Sea Scrolls. 

Access to the scrolls, which many scholars 
believe could shed light on ancient Jewish sects 
and groups that may have influenced early Chris- 
tian thoughl was initially controlled by a small 
group of researchers. Repeated complaints and 
the publication of a deciphered version of one of 
the works led to an expansion of the research 
group that plans to publish its last findings 
around the year 2000. 

With the distribution of the disk, information 
on the ancient scrolls that were found in caves 
near the Dead Sea starting in 1947, is available to 
everyone who owns a computer. 

New Clue on Prostate Cancer 

BALTIMORE (AP) — Researchers have 
found a genetic defect they think might trigger 
prostate cancer by robbing cells of an enzyme 
that fights the disease. 

The genetic change, which apparently alters 
the body’s natural cancer-fighting mechanisms, 
appeared in the bodies of all 91 prostate victims 
e researchers studied at Johns Hopkins Uni- 


versity, and was nowhere to be found in the 
tissues of healthy men. In 88 of the 91 victims, 
researchers were unable to find the enzyme 
glutathione S- transferase, part of a group of 
chemicals produced in the body that fight 
cancer. 


Evidence on Lyme Disease 

WASHINGTON (WP) — A genetic analysis 
of rodent pelts that have been stored in Ameri- 
can museums since the late 1800s provides evi- 
dence that Lyme disease has been in the United 
States for at least 100 years. 

The finding supports a growing consensus that 
many “new” diseases are simply newly emerging 
because of environmental changes. 

Lyme disease is a progressive arthritic condi- 
tion caused by a bacterium. It is spread to 
humans by a tick bite, but the bacterium also 
lives in mice, deer and other woodland wildlife. 
The disease was named after Old Lyme, Con- 
necticut, where the first documented U. S. out- 
break occurred in the early 1970s, but medical 
historians have noted that Lyme symptoms 
were documented in Europe as early as the turn 
of the century. 


,Yc matter \\'i:crc yci 


ire tm vclino to. 



THIS IS YOUR RETURN TICKET. 



COUNTRIES 

ACCESS NUMBBS 

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ACCESS NUMBERS 

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Tf " '/T'S *,;,..A,;i. .;. r: 

*S*i.r sto-r=s£^S»g 

International Herald Tribune ; Thursday , , November 24 1994 



Page 11 


€B€L 

the architects of time 


THE TRIB INDEX: 1 10.. 

Tr, 6ffi? Worid Stock Index ©, composed* 

compiled 



World Index 

1 1 .23794 ■£■ 4 P.M. : 1 10.70 
Previous: 111.83'- 





N 

1994 


AsiaiPaciftc 


Approx. wNghbng: 32% 

04P.M.: 121.67 Prewj 122.73 


150 


Europe Yi-v 

Idtefis 

Approx, weighting; 37% 

B4PJUL: I12J1 Prm.il 14^9 




“ J J A S O N 

J J A S 

O N 

1994 


1994 

1 North America 

Latin America 


Arxox. weighting; 26% C1S9RV 

Approx, weighting: 5% 


04PAL 9162 Prev; 84.17 TO 1 

«4P JiL 126.62 Prev.- 1 28.30 



The Max tracks U.S. faker values at stocks br Tokyo. New York, London, and 
Argontkia. Onaliniq, Austria. Bdghim, Brazfl, Canada, Ctiita; Damaufc, Finland. 
Franco, Qannany, Hong Kong, Italy, Mexico, NetheriandK, New Zeeiend, Norway, 
Skwon, Spain, Sweden, Switzerland and Vonekueta. For Tokyo. New York and 
London, the Me cr to composed of the 20 top issues in toons at market capkadzation. 
otherwise the ten top stocks are tracked. 


ft 


1 industrial Sectors f 


Wad. Pm. % 

04RJL dam ckanga 


WML 
• 4PJL 

rm. 

etoaa 

% 

Energy 

111.18 11226 -096 

Capital Goods 

11056 

111.81 

-159 

UtiBfes 

12a 77 125.12 -1JS 

RMrltoterhte 

127.05 

12828 

-056 

Finance 

109J6 110.78 -074 

Coosumr Goods 

10229 

103.18 

-0.86 

■.Services 

112*3 114.24 -1^3 

Uscdtefleota 

11454 

11855 

-105 

For more Information about toe bideK a booklet Is evailabfetrBO of charge. 

Write to Tib Index. 181 Avenue Charles de GauSe, 92521 NeuBy Cedex. France. 


O International Hendd Tribune 


Metall 
Plans Cut 
In Capital 

Brandon Mitchener 

Irucmahmd Herald Tribute 

FRANKFURT — In a new 
shock to shareholders, MetaU- 
gesd l scfaaft AC on Wednesday 
announced plans for a SO per- 
cent capital reduction and new 
public offering that it said were 
needed to avert another finan- 
cial emergency. 

Kajo Neukirchen. the com- 
pany's chairman, said he hi 
the move would allow Mela 
sdlschaft to “put the past 
hind us" and to focus on the 
future, which he promised 
would be profitable. 

“The year of consolidation 
will be followed by other mea- 
sures aimed at improving our 
financial situation, increasing 
productivity and expanding 
profitable businesses with a 
greater degree of international- 
ization,” he said. 

“Costs will be cut and liquid- 
ity raised with the goal of mak- 
ing MetallgeseUschafi a re- 
spectable address again far our 
workers, shareholders and busi- 
ness partners.” 

But the company that re- 
mains when MetaUgeselJs- 
cfeaft’s dives tment drive is over 
— however profitable — wfll be 
a humble shadow of its former 
seif and take years to regain 
investors’ trust. 

M e tall ges ellsc baft shares 
were suspended from trading 
on Wednesday, and some ana- 
lysts predicted the/ would fall 
SO percent when trading re- 
sumed Thursday. 

The announcement of the eq- 
uity write-down came just days 
after the company said it would 
have an operating profit of well 
above 100 milli on Deutsche 
marks ($64 million) in the year 
ending Sept. 30, 1995. 

For the year ended Sept. 30, 
1994, MetaOgesdJschaft report- 
ed a group net loss of 2.70 brffion 

See CAPITAL, Page 12 


Putting Up a Brave Front 

Strategists Say Some Stocks Still a Buy 


By Erik Ipsen 

International Herald Tribune 

LONDON — Battle- weary investment 
strategists, faced with routs in equity markets 
around the world, for the most part held their 
ground Wednesday. 

Far from rewriting their game plans, they 
insisted that the steep sell-off in U.S. shares 
only confirmed their dour view of that market 
as it steams into its fourth year of economic 
recovery burdened by rising interest rates. 

Hie slide on Wall Street took a loll in 
Europe, with major stock indexes losing 
sound on Wednesday. The DAX index in 
Frankfurt lost 2 percent, to 2,033 J I points, 
and London’s F inanc ial Hmes-Stock Ex- 
change 100-share index finished down 1.53 
percent at 3,027.80. 

“We are not pressing the panic button," 
said Jimmy Bums, European investment 
strategist with the fund manager Stewart Ivo- 
ry & Co. in Edinburgh. 

Like many other strategists and fund man- 
agers, Mr. Bums said there vae still excellent 
bargains to be found on European bourses, 
where economic recovery is still fairly fresh. 

The consensus forecast, for instant for 
German corporate earnings next year calls for 
growth of between 30 percent and 40 percent- 
Marcus Grubb, international strategist for 
Salomon Brothers Inc., said the figure could 
be as high as 50 percent to 60 percent. He 
contrasted those glowing prospers with the 
firm’s estimate of earnings growth for U.S. 
companies in the Standard & Poor's Corp. 
index of 500 stocks of between 8 percent and 
9 percent. 

Market prognosticates in Europe general- 
ly agree that the halcyon days of America's 
economic rebound are about over. “From 


here American inflation wifi pick up and 
economic growth wifi slow down,” predicted 
Peter Widmer, international investment strat- 
egist with Bank Julius B£r in Zurich. 

In Europe, (be most widely expressed reac- 
tion to the steep slide in U.S. share prices was 
along the lines of that expressed by Chris 
Tracey, head of pension fund investments at 
Fleming Investment Managements in Lon- 


Fund manag ers say there 
are bargains to be had among . 
stocks in Europe, where 
economic recovery is still a 
fairly fresh story. 


don: “U.S. equities had been looking particu- 
larly expensive for some time. We were sur- 
prised it took Wall Street so long to adjust to 
rising interest rates.” 

The Federal Reserve Board has been rais- 
ing U.S. interest rates since February, includ- 
ing a three-quarter-point rise on Nov. 15. 
Rising rates are generally bad for equities 
because they raise the returns available on 
competing m vestments, such as bonds and 
even cash. 

In fact, cash, the first refuge of pessimistic 
investors the world over, has occupied a far 
largier slice of most investment portfolios than 
is the norm for some months now. Mr. 
Widmer said the cash positions taken by bis 
funds now stood at between 10 percent and 

See STOCKS, Page 12 


France Seeks 
Bonn’s Help on 
IMF Aid Flap 


Iberia’s Board Gets Tough 


Bloomberg Business Hen 

MADRID — The board of 
Iberia, Spain’s troubled nation- 
al airline, approved Wednesday 
a lough plan to avert bankrupt- 
cy by selling assets and cutting 
personnel 

The company said the board 
had authorized management to 
cut as many jobs as necessary 
and take any other measures 
needed to restore financial 
health. A cost-cutting plan is a 
prerequisite for Iberia to get ap- 


&nion for a 130 billion peseta 
(SI billion) capital increase 
from the government. 

The plan was approved after 
weeks of negotiations failed to 
produce agreement on salary 
cuts and layoffs. The company 
said it was still open to an ac- 
cord with unions, but that no 
negotiations were scheduled. 

After the meeting, Iberia’s 
president, Javier Salas, said the 
company would start cutting 


tically, the company could be 
forced into bankruptcy during 
the first quarter of 1995. He 
predicted a loss of 44 billion 
pesetas for 1994. 

He said as many as 5.000 of 
the company's 24,000 employ- 
ees could be laid off. The plan is 
to reduce the number of pilots 
by 20 percent, management 
staff by 60 percent and ground 
personnel try 15 percent. 

Sales of assets could bring 
Iberia as much as 100 billion 




INTERNATIONAL MANAGER 

Fear and Prying in Moscow 


By Craig Mellow 

Special to the Herald Tribute 

M OSCOW — “Most K&R has 
been pretty small scale here so 
far” said Richard Prior, the 
Moscow representative of Kroll 
Associates, the corporate detective agency. 
“But we expect that might change.” 

K&R is private-eye shop talk for kidnap 
and ransom. 

Those itching to unleash their mergers-and- 
acquisitions skills on Russia’s virgin capitalist 
terrain will find Mr. Prior's assessment less 
than comforting. 

Yet KxoITs new presence here is evidence 
that more and more foreigners want to do 
business in Russia and badly need infmma- 
tion about potential local partners. Kroll 
made its reputation as Wall Street s private 
eye during the merger and junk-bond boom 

of the 1980s. . . . . 

The firm later went international, Chasing 
the hidden assets of Ferdinand Marcos. Jean- 
Qaude (Baby Doc) Duvaher aid Saddam 
Hussein, among other villains. But much of 
this work is going to seem pretty lightweight 
compared with getting the goods on newly 
privatized Russian companies. _ ... 

^“Seventy percent of all business deals m 
Moscow are meant to deceive onepBriyor the 
other,” said Sergei Stepnov^chauwmdong 
former homicide detective who heads one of 
Krofl’s local competitors. Lions 
sedation. “We are living under 

but om laws were written for Mmmum^ 

Russia’s richest companies, such as ; Lukml 
the leading ofi company, are undergoing au- 

finns. wluch 

may produce reliable numbers. 


Smaller businesses axe used to a street ethic 
where the supplier takes 100 percent prepay- 
ment, then hopes the customer's enforcers 
cannot find him if the deal falls through. 

One key investigatory toed for Mr. Stepnov 
is a proprietary computer network through 
'-vtibich 500 banks can compare records on 
credit-seekers. “The banks used to hope that a 
criminalwould^cre^tfromthdrcompeti- 
tor to pay them back,” he said. “But now they 
want to become more dvifized.” 

A foreign firm such as Kroll cannot hope to 
match this access. KrolFs advantage, Mr. Prior 
said, lies in its global network. “It is becoming 
more and more difficult to view Russian com- 
mercial entities sddy in tenns of their Russian 
operations,” he said. Kitifi also has expertise in 
different kinds of fraud which tie in Russia’s 
future, particularly computer crime. 

Mr. Stepnov spends much of bis time culti- 
vating liais ons in countries favored by Russian 
traders for purchase, transsidpinmt or offshore 
accounts. “Greece and Cyprus — that's an old 
story,” he said. This year, his travels have 
focused on Abu Dhabi and Thailand. 

What Mr. Prior and Mr. Stepnov share is a 
faith that Russia will become both more pros- 
perous and more law-abiding. At the mo- 
ment, Mr. Stepnov calls most of the country’s 
smaller banks “seoncximma] structures.” But, 
he said, “most of this tittle stuff will pass in a 
year or two.” 

While Mr. Prior gives Moscow an 8 on a 10- 
point scale of perilous places to do business, 
he says many firms have so choice but to risk 
it “American oil companies stayed away 
from Saudi Arabia in the 1930s and ’40s 
because they didn't like the environment,” he 
said. “They paid for it for the next 50 years.” 


Coke Gives 
Ad Account 
ToPublids 

By Daniel Tilles 

Special to the Herald Tribune 

PARIS — Coca-Cola Co. has 
named Pubhris ConseiL, a unit 
of Publics SA, as global adver- 
tising agency for its Caffeine- 
Free Diet Coke and Caffeine- 
Free Coke Light brands. 

The move, announced Tues- 
day, demonstrates Coca-Cola's 
wriirng ness to abandon its core 
Interpublic Group agencies — 
McCann-Eridtson Carp., Lowe 
I nternatio nal Ltd. ana lintas 
Internatinal Ltd. — on an in- 
creasing number and variety of 
advertising assignments. 

Though a Spanish agency, 
Casadevafi Pedreno & Partners, 
has international advertising re- 
sponsibilities for a Coca-Cola 
sports drink called Aquarius, 
this marks the first time Coca- 
Cola has selected a non-English 
speaking agency for a Coke 
brand on a global basis. 

“We want to tap into the best 
creative advertising around the 
world no matter where we find 
it,” a Coca-Cola spokesman 
raid, adding that the company 
had wanted to work with Publi- 
ds for a long time. 

The spokesman declined to 
say how modi money the ac- 
count was woirth. 


personnel “perhaps as early as pesetas, Mr. Salas said, 
next week.” Iberia managers tried unsuc- 

In a letter to senior managers cessfully to convince unions to 
on Nov. 10, Mr. Salas said that accqrt a 15 percent wage cut 
unless costs were lowered dras- the cutting of 2,120 jobs. 


By Alan Friedman 

International Herald Tribune 

PARIS — France, seeking to 
resolve a bitter dispute over bil- 
lions of dollars in financial aid 
for developing countries, will 
press Germany next week to 
help speed the search for a com- 
promise. 

But the government of Prime 
Minister Edouard Balladur re- 
mains isolated among the 
Group of Seven industrial 
countries in its desire to push 
for a general aid package 
through the International Mon- 
etary Fund. 

Germany is publicly opposed 
to any new large-scale IMF aid, 
suggesting that France is likely 
to get a polite hearing but a cool 
reception when the subject is 
raised at a meeting of French 
and German finance ministers 
Tuesday in Bonn. 

Tbe same issue prompted a 
battle royal that shook the In- 
ternational Monetary Fund 
during its animal meeting in 
Madrid last month. At the time, 
the G-7 rejected as unwarrant- 
ed and inflationary a proposal 
by Michel Camdessus, the 
Fund chief, to create more than 
$50 billion of Special Drawing 
Rights as a general allocation of 
funds for developing countries. 
The SDR is an artificial Fund 
Currency that central banks can 
cash in for dollars and other 
currencies. 

Instead, the G-7 — Britain. 
Canada, France, Germany. Ita- 
ly, Japan and the United Stales 
— put forward a U.S.- British 
compromise of S23.4 billion 
worth of SDRs, most of which 
would go to Eastern European 
members of the Fund. 

The Madrid meeting ended 
in a deadlock, with developing 
countries blocking any new 
Fund allocation and holding 
hostage tbe extension of unre- 
lated special credits for Eastern 
European countries. Mr. 
Camdessus, who was sharply 
criticized by some G-7 officials 
for taking a partisan position 
instead of acting as a neutral 
civil servant, nonetheless 
emerged from the meetings as a 
hero of developing countries. 


Since the Madrid furor. 
France has remained formally 
in agreement with the G-7 posi- 
tion but has been maneuvering 
behind tbe scenes to achieve a 
compromise that would ad- 
vance at least part of the pro- 
posal by Mr. Camdessus, a for- 
mer French Finance Ministry 
official and one-time governor 
of the Bank of France. The view 
in Paris is that without some 
concession to developing coun- 
tries by the G-7, it will be im- 
possible to go ahead with any 
new allocation of SDR aid. 

A French official speaking 
on condition that he not be 
named, said Wednesday that at 
a meeting set for Tuesday, Ed- 
mond Alphand6ry, the finance 
minister, would urge Theo Wei- 
gel Germany’s finance minis- 
ter, to make the search for a 
solution a high priority. 

The official added that the 
International Monetary Fund 
aid issue was already on the 
agenda for tbe Franco-German 
meeting, which will come just 
10 days ahead of a European 
Union summit meeting in Es- 
sen, Germany. 

Mr. Alphand6ry also dis- 
cussed the issue last week with 
Kenneth Clarke, Britain's chan- 
cellor of the Exchequer. 

In London, a British govern- 
ment official said the two men, 
who met during a Frencta-Brii- 
ish summit meeting in Chartres, 
France, on Friday, had agreed 
that “everybody is keen to find 
a solution to the problem." But 
the British official added that 
“there is no prospect of the 
Group of Seven agreeing to an 
immediate general allocation” 
along the lines proposed by Mi. 
Camdessus. 

An official in Washington in- 
dicated Wednesday that the 
United States agreed with the 
British position. 

The view in London and 
Washington is that it will be 
hard to come up with a compro- 
mise much before the meeting 
next spring of the Internationa) 
Monetary Fund’s policy-setting 
Interim Committee. 



UwMatfl) 



na uun a — 


'“•T . » « * » 

12 “VS " £! US- ™ „ 

U* ^ £30) iStfJS USB *» 

ma TKoa am vm u«‘ J* izas ua m 

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uw VBt V& aawd 

„„ nm ~. UB2 0XBJ* uw UP! 

^ U* Bltt ^ „ 1 m 

15CU WO Iiffl ISB vm* ES un uua urn 

iso* 

Oesktss In Amsterdam, 
rates at 3 curt. 


Tafcro 


arte* 



f Dtepositm 

Swiss 

D-Mark Franc 

Sterurre 

FreoctJ 

Franc 

Yen 

Nov. 23 

ECU 

4*t* 


5 V*Mh 


2 M*. 

5 Va-Ste 

5 Mr 5 * 

39 W 3 Wm 

5 +V*Y, 

DM* 

2 Wi-»fe 

OT- 5 % 

5 VWV 4 

4 Mr<lk 


nkXU 

WTfi 

6* *• 

5 5 V 4 ^ 

«h to 

7*e 


VMfik 

6 VS-d*fc 


rates a 3 a. ’ noe sot douor. 

a: To bur one sound; * T obuyenw 

wBitaMn. 

OttMrDoHarVaRiM 

P«r* 

taw 

a m wow* 
as 

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bias bw* ** _ 

43366 UtoWV r***- 


asa* ■* 

% L J^Yotk and zwieftr tekm « other centers,- Toronto 

.. unm ot torn ttA: ted footed; ha.: not 


EM4.I 


currency 
Max. Pew 
MZataoBd* 
Norw.tew* 
PPH.PKW 
pommHrtT 
Fort, acute 
Ross. raWe 
SmM rival 
Stan* 


Par* 

IM 

UK7 

&AS 

2LH 


15X00 

3187-00 

17503 

\MO 


Currency Par* 

S. Afr.raoC 1£P 
S.K0T.WM 
SwmL krona 
Taiwan 1 

TarktoP Bra 
UAEdtlllPfll 
Vomx. bo(tv. 


TtSAt 

13672 

2637 

2SJJ2 

34389. 

2477 

MM7 



Currency 


3H*nr 

1.3763 
97 JO 


«Mav rbriar 
IJ7M LOT* 
97J4 fW 


_ «.i . Banco Cammerckde HaPana 

(Brussels*' of Canada 


Sources; WU ‘ 


MW HW* lParM; Bam - 

MBmtii hdanumna^n^ ^ ptomsandAP. 
(Toronto); IMF PD*t. <*** 


1-flniatfc MerUMk 
jjMnffi Mvrtmiik 
4oMnh MKtwk 
WntrOmnmiti 
Canpnny 
Lamm x u rate 
CBflmmr . . • - 
vaantniaMrfaaak 
3-mottta Interbank 
tmwnttlBicirtXB* 
lO-ynor Bond 


Close Prev. 

4M 

AM 

m 

m 

6 Yt 

9b 

131 

531 

ISO 

AK 

526 

52B 

4.T7 

4.17 

7.16 

7.19 

7i5 

7JB 

7M 

7J5 

7 XX 

738 

■ 7SS 

m 

'oases 456 

AS 

m 

1% 

OSL 

zw 

mmm 

2Vt 

— 

230 

— 

2AB 


462 

- &M 

4JB0 

49S 

500 

560 

SM - 

528 

530 

536 

530 

Z3S 

Z46 


Conor 

imontti 5 * 5 % 

3 mantis SiWH. 
amanita 
-t rear 

Sources: Beaters Uovds Bank. 

Rates tfoBcoble la bdertank deposits of si maUonmktkavai (arefetootenii. 


KayEontyllalai 

united SWe* ■ 
Dtocoontrote - - 
Prim# rote 
Federal fandx 
MunlliCDs 
Comm. pnaartH days 
SinaafhTmnarybffl 
1-rear Troamrybef 
b v e u r Troamv note 
S^sarTroasarynate 

7-v*arTreasH-y Mie 

ltoyaar TKnwry note 
ItoviarTieanirrhaad 

MNTfllndiMnra 
JagOS 

MKoadrate 


Bank base rata 


Mnoaik hitafta* 
Xnomb tol trOonk 
anMOtb mcrtxmk 

teowaron* 


l u tervtnaoa rate 
OB mane* 

VaanU tateftmak 


S* 

» 

5% 

5Mi 

SM 

5% 

too 

AIL 

Vh 

6*. 

643 

853 

500 

500 

Sh 

5% 

5*. 

51 

SN 

9b 

» 

585 

7.99 

8.12 


WranrOAT 

Soanes: Heaters. Bloomberg. Merrill 
Lynch, Bank at Tatra, Cemmerrbonk, 
Ccoeowoa Montoew Credit Lyoanob. 


Zartcn 


PM. 

mu 

3SC70 

xuo 


dive 
+ 1.W 
+00 
+090 


Qo(d 

Ail 

3HJR> 

38453 

Hftw York; 384JB 

UX faOnrs par ounce. London offFdrti fix- 
tnps; Zurich and Nov York apenkigaridctoe- 

Marlas; Hew York Cemex (Decenuer.l 
Soane: Autos 


V 


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** 


Page 12 

MARKET DIARY 



Dollar Takes Heart 
From Rising Bonds 


Compiled by Our Staff From Dispatches 

NEW YORK — The dollar 
rose against most other cozy or 
currencies Wednesday as rising 
U.S. bond prices outweighed a 
volatile stock market. 

The dollar finished in New 
York at 1.5566 Deutsche marks, 
up from 1.5535 DM, and at 
98.455 yen, up from 98.305 yen. 


Foreign Exchange 


It rose to 53405 French francs 
from 53355 francs, and to 
13195 Swiss francs from 1-3175 
francs. The pound, however, 
rose to $15699 from $1.5691. 

While stocks have faUen 
sharply this week, bond prices 
have strengthened, signaling a 
shift in assets from equities to 
fixed-income investments. 

“If you have people focused 

on fixed-income performance, 
with the U5. bonds doing so 
well, that seems to be watering 
down the negative influence as- 
sociated with the stock mar- 
ket," said Michael Faust, an in- 
vestment manag er at Ballard, 

Biehl & Kaiser. 

As long as investors keep 
their money in the United 
States, that movement should 


not be damaging for the dollar, 
analysts said- 

“If it’s just movement from 
stocks to bonds, there isn’t 
much of an effect there," said 
Paul Farrell, trading manager 
for Chase Manhattan Bank. 

Still, some market partici- 
pants said they were worried 
about the stability of the U.S. 
stock market after the Dow 
Jones industrial average fell 
91.52 points on Tuesday. The 
Dow consolidated Wednesday, 
finishing down just 336 points. 

A decline in October durable 
goods orders helped Treasury 
bond prices gain for the second 
day in a row. 

“The interest rate differential 
has gotten to such a level now 
that there is really no downside 
to holding onto U.S. debt," said 
Domenick Presa, a dealer with 
Dresdner Bank. “It’s a good re- 
turn." 

An investor now can buy a 
one-year Treasury bill paying 
more than 6 percent interest 
Because the bill pays no interest 
until maturity, that yield 
amounts to a guaranteed rate of 

return - (AFX, 

Knitfii-Ridder, Bloomberg ) 


STOCKS: What to Buy? 


Continued from Page II 


15 percent of the total com- 
pared with holdings normally 
ranging up to 5 percent 

Getting there, he confesses, 
has not been a happy experi- 
ence. “Returns in real estate, 
the Far East stocks and bonds 
have all not been so great this 
year," Mr. Widmer said. “So 
cash has been built up." What is 
more, with returns of 5 percent 
or better on cash — that most 
timi d of holdings — it has paid 
relatively well. 

If for no other reason, howev- 
er, than that fund managers are 
laid to invest money not to 
lOld onto it those managers see 


e 


the buildup in liquid funds only 
ide 


as a prelude to new buying for- 


ays early next year. As always. 


questions are what to buy 
and where to buy iL 
In spite of the remarkably 
solid performance of the bond 
markets in the past two days, 
most fund managers said it was 
probably too early to predict a 
full-throated rally. 

Bob Semple, head of strategy 
for NatWest Markets in Lon- 
don, called the resilience of the 
bond markets “reassuring.” but 
he stopped there. “We are not 
going back to the good old bull 
market days in bonds,” he said 


flatly. In fact, most fund man- 
agers said they still believed 
that long-term interest rates 
have vet to peak. 

That scenario holds true even 
in Germany, where the eco- 
nomic recovery is young and 
in flatio n is s till f ailin g. Holger 
Schmiding, a bond strategist for 
Merrill Lynch in Frankfurt, 
predicted that rising long-term 
interest rates in the United 
States “will be matched in Ger- 
many point for point," in spite 
of the wide gaps in the econom- 
ic fundamentals of the two mar- 
kets. 

As always, equities markets 
offer the potential for a higher 
return, albeit with greater risk. 
Most European strategists 
maintain ed that they would re- 
frain from shopping for stocks 
in the United States but that 
there was scope for gains in 
Europe. Many also recom- 
mended greater than normal ex- 
posure to emerging markets, 
with the most commonly men- 
tioned exception being Hong 
Kong. 

“If U.S. investors are going 
to pull in their horns,” Mr. 
Semple said, “they are going to 
do it first in the places where 
they have been buying aggres- 
sively all year, and that is the 
emerging markets." 


The Dow 


DaHy dosings erf the 

Dow Jones industrial average 

4000 



m 


M J J 
1994 


A SO N 


IHT 


NYSE Host Actives 


Teuwtox 

Material 

GnMcer 
RJR Nt*> 
Gena s 
ATXT 
IBM 

WMXTc 

Citicorp 

FordMs 

BJdcHR 

RJRNbptC 

atrvtir 

Compaos 

BcmcOne 


VO* Htoh 

LOW 

Lost 

Chg- 

60540 50% 

49% 

50% 

+ % 

58105 56% 

55 

55% 

— 1% 

51756 37% 

36% 

37% 

+ 1 % 

51271 6% 

6% 

6% 

— % 

■S864 46% 

45% 

46% 

— % 

rp>¥ .j 

49U 

50% 

— % 


<8 

69% 

— % 

45033 26% 

25% 

25th 

— % 

<074 41% 

41 

41% 

-ta 

38416 27% 

26% 

27 Wi 

+ % 

38395 35% 

34% 

35V, 

*2 

r - : 1 ■ - J 

6% 

6% 


f; F ■ 

45% 

47% 

+ »% 

30503 38% 

36% 

38V, 

*’A 

30255 25% 

34% 

25% 

+ % 


NASDAQ Most Actives 



Vo* tegfi 

LOW 

Last 

dig. 

Oracle 

73012 390% 

38% 

39 

— % 

Intel 

72738 6S% 

63% 

65% 

+% 

CHcos 

70617 D1'U» 

29% 

31% 

+ 1 

Mlcstts 

54192 63Vit 

6IVh 

61% 

—Vi 

Novell 

35900 19% 

18% 

18% 


Leras 

31942 39% 

36% 

38% 

—2 

DSCs 

31512 30 

78% 

30 


TelCmA 

29157 22% 

31% 

22 

— % 

AppfcC 

29019 37% 

36% 

36% 

— % 

Cempanr 

K * Zm-M 

V„ 

%? 

—Vn 

BayNtwS 


23% 

24% 

— % 

3Com s 

R- 

41% 

43% 

+1% 

MO 

243B6 21% 

21 

Jive 


Metaarat 


12% 

13% 

+W» 

Perrtga 

22112 12% 

11% 

12% 

,% 


AMEX Most Actives 


VSoevrt 

ViOCB 

XCLLM 

AmH 

NAVocc 

SPOR 

EchoSoy 

GlfOSopr 

RovatOo 

CheySKS 


VeL 

Htoh 

LOW 

23550 

1H 

IVe 

19193 

38% 

37% 

10199 

1 

■1% 

7817 

9% 

9V« 

6817 

11 

10 

6016 45>7a 

44ft„ 

5607 10% 

10ft 

5587 

2th 


5672 

Mi 

3% 

3856 

10% 

10% 


1% 

37* 

'm 

9th 

10% 

4S'A 

10% 

m 

3»» 

10 % 


a*. 

+ % 


-V* 
-V, 
+ !h 
+ % 




Market Seles 


NYSE 
Amu 
Nasdoq 
In mfltfons. 


AX J 4 mw 

M ZU5 

3310 3S3JS 


opm Mt* low Lot an 


S** 3460ft 3683X3 30803 367403 — 136 


Tram 1434X4 143 VM MO Ui U2X19— 78ft 
.177 JA 17«S 177 JO *256 


(Jtu 173X4 

corrm 1329X5 1334.11 1219 AS 1333.11 — -125 


Standard 4 Poor’s Indexes 


Industrials 

Tronsp. 

Utilities 

finance 

SPOT 

SP 100 


High Lew Close cm 
037 AS 53048 53431 — 2J4 
34441 337.99 34340—073 
15037 147.29 ISOS +228 
4083 3944 4079 +092 
45044 44438 449J3 —0.16 
40041 41436 419.54 + 0X1 


HYSE Indexes 


Low Last On. 


Composite 

kiftustrMs 

Transit. 

UWity 

Finance 


346J9 24341 344.18 -0.14 
312.14 307.23 31024 —1-90 
221.81 217.99 22048 —1.13 
199.42 195.95 17942 *133 
19X23 189-44 19X23 +3X6 


NASDAQ Indexes 


Composite 

Industrials 

Banks 

insurance 

Finance 

Trance. 


Low Last Che- 


736J7 72940 734-57 —444 
Ml.73 73439 741.73 —4.13 
<7637 67540 42837 —132 
88436 87730 88436 —039 
85439 84939 85437 -2W 
44433 63539 63933 -4.74 


Metals 


PreTtnus 

Stt As 


Close 

8H *«» 

ALUMINUM (HM Grade) 

DoUaro per metric top 
Seer 19030 194X00 190730 190830 

Forward 196730 196830 199230 199X00 
COPPER C ATHOD ES (High Grade) 

eSrt®"* Mr Tancn -X fifjnn nrvfffq 33739 

Fonrard 278000 278230 2811X0 28TZOO 


Dollars eer imMciu 
S pat 647.50 66050 

Farward 68538 66630 

NIOCEL __ 

potter* Per wg£*#«» M 
Spat 757830 758 5 3 0 

Forward 770030 770100 

TJN ^ 

DoKers per metric top 
Snot 413000 414030 

Forward 622000 622530 

ZINC (Spectef HtobGrade) 
Dollars per mefricfM 
Spot 1143X0 114430 

Forward 117X58 117130 


67138 67X50 
68930 69038 


765030 766000 
777830 778X00 


MUp « 6220 30 

43X530 431030 


116530 116430 
119230 119330 


Financial 


AMEX Stock Index 


Mob Low Last am. 
434.14 43082 432X7 —347 


Dow denes Bond A 


a Bends 
10 Utilities 
10 Industriots 


erge 

9X76 — xoi 

89.25 + OZ7 

9X24 —038 


NYSE Diary 


Advanced 
Declined 
Unchanoed 
Tow issues 
New Highs 
New Laws 


11C 

1242 

557 


491 

1901 

SSI 

2943 

7 

314 


AMEX Diary 


Advanced 
Declined 
Unchanged 
Total issues 
New Mohs 
New Laws 


233 

178 

350 

461 

239 

191 

822 

830 

1 

4 

9 

70 


NASDAQ Diary 


Advanced 
Declined 
Unchanoed 
Total Bums 
N ew Highs 
New Laws 


1240 

2190 

1700 

5130 

8 

347 


985 

2474 

1647 

5138 

31 


Spot Commodttiea 


0392 

131 

21330 


Commodity 
Aluminum, lb 
Cpppot e l ectrdyllc. B> 

Iron FOS-ton 
Lsod-lb 
Silver, trey at 

Steel (sctop). ton 

Tin, ib 4.143 

zinc. It 03882 


817 

12730 


0302 

lft 

21330 

044 

51)4 

12730 

4.1827 

0501 


High 

3-MONTH STERLING (L1FFB) 

S5D038* ■ Ptsef 108 PCt 
DOC 9X82 9X74 

Mar 9111 7330 

Jun 9232 9244 

See 9235 9137 

Dec 9137 7130 

Umt 9IA3 9134 

Jen 91-24 91.1v 

Sep 9L10 7136 

Dec . 9058 9092 

Mar 9090 9034 

JDP 9033 9077 

Sea 9079 9074 , 

Eat. valuing: 8539X Open bd.: 517349. 
MAO NTH BURODOLLARS CLIFF El 
Si minioa-ptsef lOOpd 
Dec 9X93 9X93 9XM 

MOT N.T. N.T. 9X40 

JOB N.T. N.T. 9234 

Sep N.T. N.T. 9X44 

Est. volume: 4. Open hit.: 4,451 


9X79 

7109 

9250 

S2 

V& 

«37 

9038 

9030 

9077 


+ 0JK 
+ X1I 
+ SLI7 
+ X10 
+ 039 
+ XT0 
+ 03? 
+ 038 
+ 038 
+ 008 
+ 009 
+ 0A8 


+005 
+ 037 
+ OIO 
+ X12 


SMONTH EUROMARKS (LIFFE) 
DM1 RdBlaa • pts of 100 pet 


Mar 

Job 


Dec 


9434 

94JX 9470 

9433 9437 

9433 9X98 

9X43 9X58 

9X30 9X27 

9230 9X96 

ip 9276 9271 

PC 9232 9231 

MB’ 72X3 9X41 

IP 9X33 9231 

IP N.T. N.T. . 

Est volume: 11L332. Open tat: 727324. 


+ 032 
+ 004 
+ 036 
+ 037 
+ 006 
+ 005 
+ 035 
+ 035 
+ 034 

+004 

9X33 +0A4 

9X27 +104 


9435 

9472 

9440 

9402 

9X41 

9X29 

FIDO 

9275 

9ZE 

9242 


3-4MONTM PIBOR (MATIF) 
FFS nrinaa-ptoef in pet 
Dec 9AM 9*36 

*439 

4-004 

Mar 

9*14 

94X4 

9*12 

+ 0.10 

Jon 

93X1 

93X3 

93X9 

4-010 

Sep 

9336 

9X28 

9134 

4-0.11 

Dec 

9X27 

nsi 

9X96 

+ 0.12 

Mar 

*169 

*2X4 

*2X8 

+ 0.11 

Job 

92X3 

9239 

9X43 

+ O10 

Sep 

92X3 

9X19 

9223 

+ 009 

E*L vpkjrae: 75X9* Open InL; 1x930. 


LONG GILT (LIFFE) 

BUN - pts • 32nd* o( 108 Pd 
DOC 103-15 10200 10347 +0-21 

Mar 102-21 102-10 102-17 +0-22 

Est. volume: 8424X Open hit; 17MS6. 


GM W AN GOVERNMENT BUND (LIFFE) 


91.10 9X77 90 90 +045 

Mar 9028 0938 9013 +X49 

Est volume: 189X59. Open mt: 213360 
10-YEA R FRENCH GOV. BONDS (MAT1F) 
FFSSOON-ptSOMNpCt 
Dec 112ft 11132 11X14 +080 

Mar 11L34 11X72 11UJ4 + 0X0 

JOB 110.12 110.T2 11044 + 030 

StP N.T. N.T. 10934 +030 

Est. vahime: 2KUU. Open Int: 144AAX 


Industrials 


High Lew Lost settle Or-pe 
GASOIL (IPE) 

U3. dotters per metric ton-lets of IN tons 
DOC 15230 1*25 15130 15130 +X25 

JOB 1 5430 151.2S 154A0 15435 +230 

Feb 13435 153A0 15535 13335 +X2S 

Mar 15430 15330 156X5 ims +235 

Apr 15400 13300 15400 15435 +X2S 


MOV 


July 

Aw 


uu, law Lad Settle CW* 

M J? t4T. NX 15400 + 2* 

l pip i moo 15300 15300 + 135 

NX MX N.T. l£S£ +«5 

ss,- £?■ SS MX »88 t'S 

E as ST: ST iss :is 

Est. volume: 19387. OpraW-NT* 

gS^^bS^^VOTbmr-s 

a V 4 g « tn 

Mar 1436 1AM 14$ 

Apr 1635 1639 1635 

May 1630 1632 1635 

Jan (430 7632 1447 

J* 1440 1430 1440 

ana I4JO 1630 1430 

tS 1430 1430 1630 

Oct 1630 1430 1430 

Nov NX NT. NX 

DOC 1635 1435 1635 


lass +0.15 
1438 +0.16 
1435 +0.13 
7638 +0-” 
1430 +0-13 
1630 +JI 
1435 +X13 
1635 +an 
1 AM +0.13 
1638 + 036 


>ec 16-ra ian ■ 

EsL volume: 5B315 . Oientot. M622 


FTSE W8 (LIFFE) 


Stock Indexes 

Lew aose cnenge 


30240 — 5§S 

_ Min 30340 3039A — 550 

Ji esl vohimeuSlsn. om tatf^ioa 

CAC40 (MATIF) 

S^^*?S«8U» 190030 -FfflN 
dS T71UM 189X00 J9WS0 -+K-0O 

is- ]«8 ^|S 

« w as ”hx iwS +ss 

Est. vabime: 2X741. Open bit-* 5X1(0. 

Sources; Motif, Associated Press. 
London mri Financial Futures Exchange, 
inn Pstrtrisura Exchange. 


Dividends 


Company 


Per Amt Rec Par 


IRREGULAR 

GcerpPadfpM'93 - 3877 12-U 7-> 

cSrSSI5A293 _ 3163 12-15 1-1 

Golden Kntofit b M 12-U 1-1 

Marine Petrol Tr _ XB81 11-30 12-28 


STOCK 

Dd Elect - 3% 1X8 12-27 

REVERSE STOCK SPUT 
Marcern Inc 1 tor 6 reverse s>RL 
STOCK SPLIT 
Cenmed Corp 3 for 2 spltt. 

INCREASED 

Fkfl Fed BeD O .17 12-2 

Fsr FdSv(BrunsGA) Q -M TW5 M 

NSD Bat Q .U 12-4 12-20 

INITIAL 

Mahaslm jnvt - .15 12-1 12-5 

KSia^BaPB - JB 123 12-21 

REDUCED 

_ 30 12-15 M 

SPECIAL 

_____ - .17 IMS M 

Thomson AdvGrpLP - J* 11-1 11-30 

REGULAR 

J09 1230 Ml 


CNB 


Fst FdSviBruBsGA) 
enson AdvGrpLP 


Bawne&Co 
Boil* Bear GUacFd 
CV REIT 
CalMat Co 
Conn Noil Gas 
EotonVanceMunBd 
Elmira SvpsBk 
Ethyl Cora 
FlrsTIer Rnd 
HoncoOc Hhig Co 
imperial Oil A 
MAF BCD 
Merck&Ge 
Miners Nail Baa 
MatiatYBobS 
New England Elec 

ssssJs 811- * 

S^tlWMttilyDtv 
lac 


9 


V4 W 

.10 12-8 M 

37 12-9 12-22 

351 12-1 12-15 

.16 12-7 12-23 
.IS 12-15 1-1 

36 12-19 M 
33 12-5 IMS 
AS 122 1-1 

38 12-15 1-4 

30 1241 1-2 

21 12-15 12-30 
32 73-3 1-7 

375 129 1-3 



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BSIStSKSS 
S, y re f“ 5 'S^^“ lth busin,BS t0 Inc - fl,r Jr - 45 

billion- pfijer vriiich is based in New York; the 

bealth ^ e -«• 

1 aP Cl 1 nillllllla ... _ _ _ . 




worm s iaig»6 

and a phamacy-beaafits manager from 

Uni ten Healthcare Corp- 


Durable Goods Orders Fad Sharply 


WASHINGTON (AP) — Factory orders for durable goods 
dedhred sharply in October as demand for care and other fran*- 
SSion equipment fell, the Commerce Department said 

Wednesday. u in October, the first decrease since 



CC lStonwWle, tbe Labor Department said firei-time daims Jot 
state unemployment benefits were unchanged last week from the 


previous week. 


<*enaratelv. the University of Michigan's consumer sentiment 
judex for November fell to 91.6 from 92.7 in October. 


Common Data Standards Promised 

WASHINGTON fAFP) — International Business Machines 
Corp'willjoin Apple Computer Inc. AT&T Corp. and Semens 
AG to set up common standards for sending data, a spokesman 

for IBM said Wednesday. 

Representatives from the four companies wili announce the 
accord at a joint news conference in New York next Wednesday, 

spokesman said the new standards would be compatible 
with “most of the existing systems” and wiB allow for ah expand- 
ed use of electronic notebooks and personal digital assistants. 


Court Upholds Burroughs Patent 

WASHINGTON (AP) — Five disputed patents for AZT, the 
primary drug for treating AIDS, belong to Burroughs WeHcome 
Co., a three-judge appeals panel has ruled. 

The U.S. Court of Appeals decision rejected daims by two 
generic drug manufacturers, Barr Laboratories Inc. and Novo- 
pbarm LtcL, that Burroughs was not exclusively entitled to the 
patents. 


SEC Investigates Partnership Sales 



S M TV® 12-15 
Q 32 1-31 

M .14 11-30 128 

Q 335 3-1 3-15 

Q 37 12-4 1-3 

Q £7 13-2 1M6 


; g payabl e {a CanmB o n Mads; m- 


NEW YORK (NYT) — After years of investigating Prudential 
Securities* improper sales of limited partnerships, government 
regulators are tur ning their attention to the rest of Wall Street. 

The Securities and Exchange Commission's inquiry focuses on 
partnership sales by several of the biggest American brokerage 
firms, including Paine Webber Group Imx, Merrill Lynch & Co- 
Dean Witter & Co. and Lehman Brothers, people with knowledge 
of the investigations said Tuesday. 

The investigation is examining whether the brokerage firms 
misled Investors about the safety and potential returns from a 
series of limited partnerships, which invest in assets such as real 
estate and ml wells. 


CAPITAL: Metaii Plans a Cut France Telecom Will Put Fresh Capital Into Bull 


Continued from Page 11 

DM and a German parent-com- 
pany loss of 2.41 billion DM. 

The company was only saved 
from insolvency by a last-min- 
ute, 300 million DM emergency 
loan from several major institu- 
tional shareholders, primarily 
big German banks. 

“We were surprised that they 
didn't announce the cut two 
days ago,” said Klaus Persch- 
bacher, an equity analyst at No- 


mura Research Deutschland. 

“It's the appropriate measure 
to regain a more healthy condi- 
tion." 

The capital cut is dictated by 
the same German law that al- 
most forced Metallgesellschaft 
into bankruptcy in January. 
When a company loses half its 
nominal capital, it has to pre- 
sent an emergency plan for re- 
structuring and raising fresh 
capital. If it does not, it faces 
bankruptcy. 


Reuters 

PARIS — Groupe Bull said 
Wednesday that France Tele- 
com, a 17 percent shareholder, 
would inject 561 million francs 
($105 million) into the state- 
owned computer maker before 
the end of the year,' ahead of 
Bull’s privatization. 

Bull said France Telecom’s 
cash would be in addition to 
2.54 billion francs the state is 
granting in a recapitalization 


and would bring the total 
amount of fresh capital to 3.1 
billion francs. 

The board derided to call an 
extraordinary shareholders’ 
meeting Dec. 29 to approve the 
capital increase. 

Bull said the chairman; Jean- 
Marie Descarpen tries, reiterat- 
ed his aim, tied to the recapital- 
ization, of breaking even at the 
operating level by year-end. On 
figures available so far. Bull is 


cm track to its target, the state- 
ment said. The results at the 
end of September showed an 
improvement of 1.5 billion 
francs in operating profit com- 
pared with a year earlier. 

The company had a full-year 


operating loss erf 1.89 billion 
francs in 1993. It last made as 
operating profit in 1989. " 


recapitai 
would be the state’s last contri- 
bution to the company. 


To our readers in Berlin 

You can now receive the IHT 
hand delivered to your home or office 
every morning on the day of publication. 
Just call us toll free at 0130 84 85 85 


WORLD STOCK MARKETS 


AQwira Front* Pmu No*. 23 


Ootg Fray. 


Amsterdam 


6X70 61.10 
35 3470 
10930 1OT JO 




ABN Amro Hht 
ACF HokHno 
Acuon 
Ahold 
AfczoNctnl 
AMEV 

Bou-Wouorwn 

sua 

REST 

Gtat-Brocodu 
HBG 
Heine ken 
Hooooveni 

Huntar Douota 75.90 7450 
iHCCukmd 40 6050 

inter Mueller 9X50 W 
Inn Nedortond 7X20 7X60 
KLM _ 

KNPBT 
KPN 


19X50 __ 

7250 7110 

3430 3450 
4X90 6750 
13130 13230 
1730 1730 
1450 1490 
4U0 

270 27X50 


25090 25X70 

■■P 77.40 


7430 




Oce 

Pokhowl 
Philips 
Polygram 
Rohoco 
Rodotnco 

Rnllnco 

Rorontfl . . 

Royal Dutch 

Stark 

Uni Invar 

VmOmnMfen 

VNU 

Wotters/Klumr 


JS 

5X60 5430 
5250 SUO 
7X90 S3 
45 46.10 
5050 5130 
7130 7370 
11X10 11150 
5050 3030 
11230 11438 

8X50 8250 

185.10 18730 
4130 4130 
I91J0 19430 
4530 46 

176 17430 

120 12X30 




Brussels 


Aimanll 

Arbed 

Barca 

BBL 

Bakaart 

CBR 

CMS 

CNF 

Cockonii 


Colnivt 

Hhalre 


Del hah 
Electrode! 
ElectnrftaQ 
FarttsAG 
CiB 
GBL 
Gavaort 
Gtavarbel 


KmMettraik 
Mosane 
PelruHna 
Pawerfln 
Recital . 
Royal* Beige 
SocGen Banaue 


7440 7460 
5120 SIN 
2435 2440 
4245 4270 
22950 23275 
12000 12150 
2405 2630 
1970 1900 
197 200 

HA UN 
7140 7150 
1278 1290 
5J70 SOT 
2800 2800 
2415 2650 
1256 1264 
3905 3905 
9140 9190 
4170 4160 
2850 2850 
4650 6410 
JOT 
9220 9290 
2910 2870 
429 484 

4780 4800 
7950 7800 


QomPtw. 



Helsinki 


Anwr-YMyrna 9X40 9830 

EiWhGutnit 37.10 38.10 

HUMpmakl 138 M3 

ILO.P. 6 635 

Kyrrmietie 125 129 

Metre 144 148 

Noklq 655 680 

Poll tala 46 44 

RWOla 89 8930 

Stockmann 258 252 

w&gsT&sr 5 ""* 


SocGen Belgique 2145 2185 


Son no 
Salvor 
Tewanderto 
Tractebel 
UCB 

Union Mlnlere 
Wagons U Is 


13100 13150 
14775 14975 
10300 10375 
9530 9650 

24525 24700 
2570 2590 
NA 5790 


SS3£y??m n “- , ‘ 


Frankfurt 


AEG 

AJarfelSEL 
Allianz Hold 
Altana 
Asko 


1483015X50 
06327130 
2360 2404 
639 643 

730 756 


BASF 30X6030530 

Bayer 33X10334.10 

Bay. Hyae bank 403 409 

Bay VerektSbk 
BBC 450 470 

BHF Bank 361 SI 30 

BMW 749 775 

CorntnerzbcnTk 31 8JI 32530 
Contlrwntol 22022X50 

Daimler Benz 7455074Xn 
Deoussa 44X 30 450 

Dt BobCOCK 2203022530 
Deutsche Bait 72X707443 
Douglas _ 416 422 

Dresdner Bank «030 *09 

FeMmuelile 30030430 

FKfllppHeCKh 19X50 200 


Haroener 

Henkel 

Hochtief 

Hocctel 

Hoizmann 


IWKA 
Kail Sale 
Kantodt 
Kauflwf 
KHD 


31X7631930 
812 822 
205 206 

330 335 

14136 165 

W> 575 
45944538 
1153011X80 
Kloeckner Werke 12$ 124 

Unde 87030 890 

Lufthansa 1953619830 

MAN 4045041450 

Mocmesmonn 40040830 

MMallseseil NX 143 
Muendi Rueck 2730 2775 
Porsche m MS 

Prwmog 434Sj 44230 

PWA THTtSKQ 


Hong Kong 

Bk East Asia 3X20 33 

Camay Pacific WAS 1070 
Cheung Mrs sxx 34A0 
China Light Pwr 3480 3490 
Dairy Farm inrt oao X60 
Hang Una Dev 1135 12A5 
Hans Seng Bonk 5425 57 

Henderson Land 4330 45.70 
HK Air Ena. 2930 2930 
HK China Gas 1X95 1X13 
HK Electric 20JU 2235 
HK Land _ 1730 1845 
HK Realty TTuSl 1460 17 

HSBC HoWtaOS 8535 KL25 
HKShong Htts X70 7 JO 
HK Telecomm 1480 li* 
HK Ferry &2S 835 

Hutch Whampoa 31 AO 3X20 
Hyson Dev 18 1XM 

JarmneMath. 5X50 _ 55 
Joratrw Sir HU ztS 3446 
Kowloon Mater 1360 1*30 
Mandarin Orient 9 9jo 
M lremar Hotel 1660 1730 


New world Dev 2265 2175 
5HK Props 4960 51 


4960 

Stefux X83 

Swire POC A 9X75 5X50 
Tal awing Pros 860 BJ5 
TVE 4 4 

Wharf Hold 2720 2BJ5 
WhtetockCo 1410 1485 
Wing On Co Inti 865 9 

Wtnsor Ind. KXU 1030 




Johannesburg 

3 5 34 

95 9S 
235 238 


AEC1 
Altecti 
Anglo Amer 
Barlows 
Bivyaar 
BuHels 
De Beers 
DrMentelfi 
Gencor 
GFSA 


3X50 34 

B 1 

38 38 

93 96 

6150 6* 

1525 1525 
127 130 

3SJ0 36 
34 35 

6030 « 

41 4025 
41 4130 
111 112 
9930 100 

sssss Essa 8 ™ 1 


HkHmortY 
Htahvefd Steel 


Close Prev. 


Eurotunnel 
F Isons 
Forio 
GEC 
Genl Acc 
Glaxo 
Grand Met 
GRE 
Oolrmaj 
GUS 


269 

121 

226 

276 

S60 

4.13 

XS3 

185 

454 

533 


Hllhdown 
HSBC Hides 
ICI 

IncKfiPe 


Kingfisher 

Loctoraka 


Laid sec 
L u porte 
Lasmo 

Legal Gan Gra 

Lloyds Bar* 

Marks SP 
MEPC 
NatlT 
NatWest 
NifiWst Water 
Peomon 

p*o 

Pllklnatan 
PowerOen 
Prudential 
Rank Ora 
Reekltt Col 
Red land 
Reed Inti 
Routers 
RMC Group 
Ralls Rovce 
Rottawi (unifj 
Royal Scot 
RTZ 

Salnsbury 
SootNewcas 
scat Power 


139 

733 

764 

437 

464 

134 

535 

785 

164 

423 

574 

405 

195 

<2 

499 

539 

681 

4.70 

179 

5J0 

XU 

485 

562 

466 

783 


236 

134 

230 

280 

531 
419 
402 
189 
437 

532 
232 
1.71 
732 
732 
4X2 
47T 
161 

* 

735 

169 


SJ5 

411 

402 

585 

589 


412 

635 

183 


9J4 

135 

416 

463 

839 


Severn Trent 
It 


K 

Smith 1 

SmtttiKIlne B 


5ml Al E. 


Sun ; 

Tats 4 L We 

Thorn EMI 
Tomkins 
T5B Group 
Unilever 
UW Biscuits 
Vodafone 
War Loan 3Vi 
Wellcome 

leiuiha^^ 
■Viniue miu 

Wlinams Hdgs 
Willis Corraon 


585 

337 

183 

530 

492 

535 

168 

419 

463 

X18 


X16 

410 

568 

430 

730 

479 

983 

181 

433 

451 

867 

412 

588 

361 

185 

539 

783 

568 

167 

432 


*2 

933 

231 

ssn 

1490 

X19 

185 

4184 

468 

565 

363 

164 


338 

437 

264 

931 

234 

230 

1085 

330 

283 

4136 

479 

530 

254 

169 


Madrid 


BBV 3390 3425 

B co Control HISP. 2945 2775 

Banco Santander 5220 5340 

BanestO 937 749 

CEPSA 3110 3140 

D ra o o do a 1945 1775 

Endesa 5810 5870 

Ercros 149 149 

Iberdrola M3 873 

ROPSOl 3860 3710 

Tabocalera 3750 3815 

Telefonica 1485 1700 


Kloof 
NedbankGrp 
Rw i dl a nteift 
Rusptcrt 
SA Brews 
SmtA 

Western Deep 


ss3s?s nr*" 1 " 


Milan 


London 


ABbevNatT 
Allied Lyons 
Aria W logins 
Aravii Group 
Ass Brit Foods 


BAe 

Bank Scotland 
Barclays 


BAT 

BET 

Blue Circle 
BOC Group 
Boms 
B oen/ t e r 
BP 

Brit Airways 
Brit Ges 
Brit Steel 
Brit Telecom 
BTR 

Cable wire 
coabury Sdi 
CsroAgi 
Coats Vtveiia 
comm union 
Courtcukb 
ECC Group 
Enterprise Oil 


402 

5.72 

266 

ZM 

533 

490 

*35 

283 
580 
S25 
439 
18* 
293 
488 
582 
467 
4. JO 

173 
194 

152 

JJ0 

284 
3L71 
433 
269 
284 
530 
43* 
330 

174 


412 

5J7 

2.75 

266 

564 

583 

431 

268 

564 

S» 

435 

186 

IDS 

783 

5.13 


473 

178 
298 
132 
380 
2.94 
164 
441 

179 
285 
538 
*61 
362 

in 


Allepnza 1 5300 15400 

AsaltallD 10350 10500 

Autasfrode artv ntO 1889 
Boo Aortealtura 2700 2700 
Bca Commer llal 3*10 3445 
Bco Nax Lavaro 125*0 12350 
Bca Pop Novara 
Banco dl Roma 
Bco Ambrosiano 
BceNepo HrtiP 
Benetton 
Credlta 1 tat la no 
Enlctiem Aug 
Fetfln 
Flat spa 
Finanz Agrtrind 
Ftameccanlca 
Fandtorki spa 
General! Asslc 


Itataemontl 

Italaas 

Mealobanca 

Montedison 

Oliveitl 

Pirelli spa 

RAS 

Rlnascente 


8410 
1610 1450 
4380 4390 
1148 1MI 
19400 19300 
160 1455 
3010 3010 
1340 1290 
«OS5 6130 
9130 9210 
1550 1540 
11355 11550 
34600 37300 
5445 5470 
10325 10410 
4725 4750 
12710 12900 
1141 1145 
1890 1950 
2145 2200 
14740 14700 
8760 8850 


Sen Paata Torino 9300 9500 
SIP 4115 4220 

SME 3925 3980 

Stag bad 1880 1925 

Stands 34200 3*300 

Stef 4485 4780 

Toro Asslc 23000 23200 

nasw" 1 


CteM Prev. 


Montreal 


Atco Ltd I 1414 14Vk 

Bank Montreal 25th 24*» 

bce Mobile Cam 44W 45 

Cdn Tire A lilt 11 

Cdn Util A 23W 23*4. 

6M M 
\tP* 18% 
1814 II 
12Ya 12th 
20% 20V. 
1246 1246 


Crown* Inc 

CTFln'ISvc 

Gaz Metro. 

Gt West Liteco 
Hens Inti BCP _ 

Hudson's Bay Co 24V. 34H 
UnascoLtd 38V5 37ta 
Investors Grp Inc 15V. 14 

Laban (John) 19th TOh 
LoWowCos 20ta 2£» 

Matson A 1*W 18th 

Noft Bk Canada 9th 9th 
oshawaA . 18 18>h 

Panatta Pwtrahn 4t« 42 

Power Corp 1 18th 

Power Flnl 3m 7tv> 
Quebecor B 1476 16th 
Ropers Comm B mt it*, 
Royal Bk Cda 28th 28 
Seme Canada Inc W* tv» 
Shell Cda A 41Vh 42 w. 
SoUtaam Inc 14tft 14th 

Triton Fln’l A XSC 


Parts 


Accor 595 601 

Air Ltoulde 681 701 

Alcatel Alsthont 41960 4JJ 
Axn , 261 JO 263 

Boncnlre (Cto) 568 557 

BIC 6*5 ua 

BNP 260.10 24X40 

Bouygues 535 si 

□onone 746 763 

CarekKjr 204? 2040 
CC.F. 23160 22430 

CMW 101 10090 

CItaraeurs 1224 1249 

aments Franc 239J0 240 

Club Med 43X90 43X50 

EHAauUafne 36L40 366 

fforo Otsrcy HJS U5 
Gen. Eaux 472 4813D 

Havas 429 431 

l metal 520 544 

LataraeCoppee ,376 X* 
Leorond 4710 6870 

Lyon. Eaux 452 <57.70 

area) (LI 1H1 1122 

LVJwk 837 840 

M oliu - Ho cherie 7073) Til. 10 
MkJwnn B J016O2O4J0 

Moulinex 18730 WS30 

Paribas __ 361.90 34530 

Pechinev Irdt 16160160® 
Pemod-RIcord 31830 323 

Peugeot 770 773 

Plnautt Print 9t5 9T1 

Radtatachmwe 507 512 

Renault I78J01I030 

Rt+Poulenc A 13040 135 

Raft. St. Louts 1411 1**0 


Sonofl 
Saint Gobotn 
S.EJL 

Ste Generate 
Suez 


250.10 252 

636 645 

522 539 

601 59f 

254 255 


Thcmson-C5F 15X60 15A» 
Total 325-91 327 

U6LP. 144.40 146 

Volga 272 272 

ttsssrsvixr* 


SaoPauio 


Banco do Brash 16.10 


9.79 9,__ 

Brodesca 730 760 

Brahma 2BS 272 

Cemla n 84 

Ele t robr o a 270 284 

■taubanco 237.90 258 

Light 337 339 

Pa 1 1» 1 0 p ane mo 14 1640 

Petrobras 11611430 

Souza Cruz MS &40 

T Metros 37 3X70 

Teteso 384.79 395 


Usiminas 
Vale Rio Doer 
Vdo 


1-27 1J0 
146 153 

3680 3600 




Singapore 

Asia Poe Brew 16.10 1630 
Cerebos 735 X*0 

City Deyetoprnnt 765 _7J5 
Circle a Carriage 1268 1X5D 
DBS 1X30 1X50 

DBS Lend AM «6 

fe Levtmtan fcso us 
Fraser & Heave 1460 1430 
GtEastnUta 2730 2730 
Mono Leans Fin 428 430 
Indi cc pe 560 560 

Jurang Stkprsrd 1230 1X10 
Kay Hhm J Caad 1.75 1J9 
Krapel 11 JO 12 

Natstoel m IT* 


Neptune Orient 2JB 2j06 
OCHC foreign 1460 1330 


Got# Prev. 


cmas unton Bk *-90 7 

O^ecs Union Ent XW 9.10 
Semhmvana IMJ I 8 J 0 
Si me Singapore 134 137 
Stag Aerospace X21 238 
Sing Airlines tarn 1360 M 
Stag Bus Svc 9 9.10 

Sing Land 065 835 

SlngPetlm M « 

sing Press torn .24 3630 
SktaShlPWdg 
StagTe jecomm 
Straits Steam 
straits Trading 
Tal Leg Bank 
UM industrial 


262 264 
XQ2 XD4 
*98 560 
338 X7D 


IJf 16* 


lltd (Tsea Bk fora B 156° 
UMO'seas Land 237 X72 

ssssfirsear" 7 " 


Stockholm 


AGA 
Asea AF 
Astro AF 
Attas Copco 
E lectrolux B 




■ 190 

10058 


Esselte-A^^H 
Hvxtelsbcpik BF 


*2030429-50 


7130 92 

94 9530 




Norsk Hydro . 

PharmactaAF 11830122^ 


128 128 
11830 119 

*SXD 46-50 
12730 130 

T70T7Z5O 

132 133 

450 452 

10830 112 

14214430 

$R5EBr8^a^’ w, ■ ,4 


SondvfkB 
SCA-A 
S-E Barken AF 
SktsxJla F 
Skanskn BF 
SKF BP 
Stora AF 
Tredeterg BF 
Volvo BF 


Sydney 

8J0 8.77 
275 369 
1S& 1834 
332 130 


Amcor 
ANZ 
BMP 
Baral , 

BaugolnvIlEg 
Cotes Myer 
Camaico 
CRA 
CSR 

Fosters Brew 
Gaodmtai Field 
1C Australia 
Magellan 
MW 

Nat Aust Bank 
News Cora 
N Broken Hill 
Pac Dunlop 
Pioneer Inn 
Nmndy Posekta 
PUHlsng Bnfcsto 3_K 3 36 
OCTResources 138 137 

TNT 225 2JQ 

Western Mining 7.13 730 

w^^icBankhig 4.12 AM 

JBOJJ 


X97 4X2 
AM AM 
T7J0 17X2 
460 4J9 
1.11 1.12 

1.10 1.15 
10X2 1088 

130 130 
X68 269 
1034 1060 

5.10 530 

3X6 X15 
330 360 
3X5 X06 
1.92 2 


Market Closed 
The Tokyo stock 
market was dosed 
Wednesday for a 
holiday. 


Toronto 


AMKM Price Wh l«k 

AlrCtmodQ .7*6 7ta 

Alberta Energy late 19 

Alcan AtamtaMn 31*4 3ZV6 

Amer Barrldc 28*6 294h 

Avenor 24*6 2*W 


OOM Prgy. 


Bk Nova Scolto 


HC Telecomm 

Bombortler B 


27V. 24*6 
44 45*h 
24 ?4*ti 
21 Vh 21 

2-20 X25 
19th 1914 
29 29*6 
329k 31*4 


U.S. FUTURES 


Via Auodafd town 


High Law 


Open Htoh Law Oose Os OaJnt 


Grains 


Camera 
CIBC 

Cdn Natural Res 16th 15th 
QkiOcrtdPgt 31*4 _32 
can Pacific 


Comlnra^^OT 

Consumers Gas 


20*4 21th 
6 5*h 
23*6 24V* 
14*6 14to 
17*4 17th 
10*6 10*6 
18 17th 
14th 14*6 
. . m Bth 

Frdcanbrfdae 21th 21th 
Fletcher Call A 17th T7V* 
Franco Nevada 


Daman Ind B. 
Du Pont Cda A 


Echo Bay Mines 
Empire Co./ 


Hem to GaM 


... . on 

IPL Energy 
LbMlOwA 
Lcidlaw B 
Laewen Group 
London msur Gp 
M ocmiil Btoedd 
Magna Inti A 
‘ Leaf Fds 


74th .77 

18th 19 
44 Vh 46*« 
35V, 34V. 


m in 

9lh .St 

T7V6 1714 

AJgteLTOttoto 

Newbr i dge Nets 45V. 44th 
Norimda Inc 
Noronda Forest 
Norcen Energy 
Nttwm T el ecom 


Onex 


224% 22th 
10 101 % 
17 T7t4 
44*h 44th 
12*6 12*h 
Rto 13th 
U*h 11th 
25*6 26V, 


Placer Dome 
Potash Corp 5a*k 4414 *5*6 
Prev tea 43S *35 

PWA 868 069 

MCorPrinl 13*6 13*6 
ibaanceEny 29% 2744 
„J Algom 24*4 24th 

Seagram Co 38*4 3BVh 
Stone Console 14th ]4th 
Talisman Env 
Teleglobe 
Telus 




TorDom Bank 
Transoita 
TneisCda Ptae 
Utd Dominion 


UtdWestburne 

WestcoastEny 


Xerox Canada B 


17*» 

14th 15th 
16M. 15*4 
2014 19*6 
14 14 

17*8 17th 
26*6 2714 
10*6 11 
23Vh 23 
*0 37 

45th 44th 


Zurich 


AOO Intt B 2)2 218 

Alusutsse B new 434 6*6 

BBC Brvm Bov B 1102 1114 

CiboGetavB 745 784 


5 Holdings 8 


Elektm* B 
Fischer r 


536 5(1 

337 345 
1« 1530 
1850 1935 
750 780 

731 745 


tins 12ns 


Interdiz c oieit B 
JetmoJI B 
Lands Gvr R 
Moevenpfcfc B 

Nestle R .« 

Oert Ik. Buebrle R 12X50 13260 
Poraesa HW B 1430 1445 

Roche Hdg PC 5780 5BN 

Safre Republic 113 119 

Sroda* B 693 696 

SchwaierB tot Tssd 

Softer PC 870 B72 

Surveillance B 1780 1800 

Swiss Bnk Carp B 352 348 

Swiss Retnsur R 766 7T2 

Swfssalr R 777 780 

UBS B 1125 1159 

Winterthur B 454 445 

Zurich ASS B 1200 1220 




For 

investment 

information 

Read 

Hie MONEY REPORT 
every Saturday 
in the IHT 


WHEAT (CBGT) LOlIbu n+Xmwrv iftJoriEWbuWvl 


A18*t 

436*6 

178W 

363*4 

365 

3J5 

X5IW 


.... DecM X66 148 363V, 164V1-0X2V, 16X71 
127 Mar 9) 129*6 181W 124W VBK-JXHh 31709 
114th May 75 365*6 141 14* V| X66<4 -ILOOVh 5625 

111 Jul75 127 13716 136V6 337*6 *D.OO>6 11,112 

339 Sept 5 144 145 363 3.(3 -0X14 m 

369 Dec 75 335 XB X51to 15«i *0Xlto ID 


125 Julto 

ESI. SOWS 1100a Toe's, soles 23204 
Toe's open W asea alt 1274 


330 *0X3 


II 


WHEAT (KBOT) MoeBuiid A i— u - 
11 2V, Dec 74 a» 


623*6 XirViDecW 378 331 177 

42714 325 Marts 182V, 1KT4 179 

era X21V,Mav«X70 332 147*4 

14B% 11615 JulTS 36416 147 14JV, 

377 327 Sep 75 364V, 369V] 368 

349th 153 DecTS 

Est-setes 3X04 Toe's. sofei 
Tub's op sn Int 
CORN (CBOT) SXeabumlnkmn-dDeBrieweiiiM 
177 113V6Dec*( 115 115 2.10W 

X2« 


178 —OX It* 0412 

331 -ora mm 


X47*h— (LOIlh 1757 
364th *r ‘ 


QJWW 4JS7 
368 -am 73 

155 -0X1 13 


223UMOT75 225% 


22DV, 


230%May 73 232*6 228 


xn*6-orav. 7023* 


235*6X875 236*6 


'A-OXJVi 87X87 
3271(1-003 32X88 

132*6 2334.-0X3 (2X21 


ZSXVt 

Its 

2JSV, 

2JWt ... _ .... 

2X3 235*5 Dec 7S 265*6 2 M 142 261*5— JXZL 21XZ5 

2.«H 230*5Mcr76 2X2 2-52 \i ZJO 2J0 -OOT6 946 

167 155WJUIM 260 240 157Vi 157*6 -0X2 <4 742 

Est ions 70X00 Tub's. Khes 85X43 


227. Sep 75 241J4 341th 2JB 238^5 -X.m^ JX67 


TurtopenW 261681 Off 2814 
5QYBSAN5 (CBOT) MO 


7X4 

7.05 

7X515 

7.04V, 

A12 

6.15 

6J0V5 

6.14 

421 


SXMhunWWnunv^-. 

537*6 Jon 75 567 S47V, 5J7*h 5X516-0X015 51X22 

567% MOT 75 175% 536*6 5X6% S7(%-0X0% 29X24 
534 MOy95iM 5X4 177 182% 11227 

5X3% AjI 75 568% 562% S67%— (LOO 1 - 23614 

SX6%AU0 95 5.70% i.90% 566 187*6 -0X0% 1.910 

571 Sep 79 582 552 5J7 568 -0X3 1X58 

5JB%Nov9S 596% 597% 573 577*6—001 9609 

599% An 74 4XS 6X5 4X4*6 500. -0.00 Vi 113 

599%JU76 520 -0X2 56 

Nov 96 6X3 6X3 6X1 6X1 -0X2 118 


Tue'icpentot 132,953 UP 
SOYBEANMEAL (CBOT) wn.,ii mail lie >»i 
»9X0 158X0 Dec 94 I960 1 4000 159.10 1W.90 rOJO 2X185 

I960 Jon 76 141X0 142X0 140X0 14168 *060 26.185 
14360 Mo- 95 165X0 16530 16X90 16510 


207X0 

207301 

207XQ 


16260 

18170 

laijo 

18520 


18760 Moy 95 16730 14930 167X0 149.10 

3 Jut 95 174X0 174X0 17230 17150 -Q.1C lOJfO 


060 21327 

*030 I13B 

17070 Ju»\ 

172X0 Aug 75 175X0 17500 17430 17100 -060 2J42 

1733O50P95 177.40 17760 17430 177.10 -030 1610 

175600093 17960 17760 17B30 177X0 -030 1961 

176JSDK9S 18X00 18X20 1813 1B230 -030 2630 

. Jan*6 18X50 —030 1 

Est tolas 15X00 Tin’s, ides 24.114 
Tuc'sopenW 102615 up 2120 
SOYBEAN OX (CBOT) 4860BlM-drtonP(rM0la. 

2867 22X0 Dec 94 2X23 2832 27 J! 28.14 -4U0 28694 

2245 Jen 95 2735 2731 2630 2734 +0X2 28.244 

22J71MCT-9J 2525 2535 2585 3479 * 0X7 27X48 

226JMOV95 2532 2535 2500 2531 -0X1 15342 

2236 A6 VS 2*68 2473 3430 2471 +0X8 96*1 

2X73AU99S 3*60 2460 2424 24X5 + 0X5 2JB0 

22-75 Sep 95 2415 2413 3400 2400 -0XS 1640 

22JSOC195 24.00 24X0 23X0 2400 + 030 3X60 

2260 Dec 95 23J5 2U5 2330 2362 +011 4907 

2140 JftlM ZL2S 58 

Est sees 24X00 Tug’s, sdas 31X88 
TUrt open Int 114372 up 2960 


25JD 


2765 

2738 

2473 

2*35 

2435 

24.13 


Livestock 


CATTLE (CMBU utM-miMre 
74J0 6730 Dec 94 4732 

7435 *663 Feb 95 69,10 

7510 6737 Apr 75 4960 

6930 6420 JunOS 6535 

48,10 4140 Aw, 95 &UJ 

*7X5 CATO OafS 44X7 

*435 4540 Dec 95 6500 


Tim’s open h 7X34* an 1311 


8035 7160 JftlTS 7455 7435 

8035 7033Mares 7265 7X45 

7690 70.10 Apr 9S 7130 7130 

7*30 I960 MOy 95 7X96 7195 

73X5 *960 At* 95 7735 77X5 

7160 6960 Sects 7140 7060 

Est softs 1673 rue's, sales 2695 
Tup's open H 7X73 up 177 




4063 


S3£ 


5060 3430 Feb 93 3*30 

OJO 2540 Apr 95 JSJO 

4730 4175Junes a to 

UM 

4X40 
4030 

4130 

4230 41X0 Feb 94 

Ed-sdes 5M* Tug's softs All? 
Toe's open M 25,70 on 1011 
PORK BELLIES ICMER) euxaen.- 
«ra 3*20 Feb 95 36X3 

6060 34C7MW7S 3435 

41-15 ^ TO Moy « 2760 

5400 1860 JW 95 3860 




40 00 3760 Feb 96 

39.90 39X0 Mgr M 

ESI. sales 1634 Tuc's. sale*. 3J07 

rue’s open nt 10,113 w> 93 


4010 

602S 

—1.17 2X7137 

67.97 

4027 

—095 Z7335 

66-50 

66X2 

—078 1*779 

6*35 

6*77 

— 080 

5293 

6175 

62.95 

-0X2 

IJtW 

6L50 

020 

—090 

607 

6*65 

6U5 

—077 

93 

a 




a-e* 

Bern. 



7125 

7130 

—137 

3,929 

7120 

7137 

— 1-79 

1,72* 

7070 

7082 

-Oft 

726 

7030 

7035 

-8J0 

473 

TOM 

7050 

—UTS 

191 

7010 

7010 

-0X5 

2 > 

3130 

31X5 

—OI5 11240 

3*20 

3*30 

-OIS 11 276 

3330 

3137 

-aw 

6X56 

40X5 

41X0 

-012 

133* 

40.95 

41X5 

—005 

704 

MBS 

41.66 

-0X2 

161 

38X1 

38X5 

-005 

649 

41X0 

41X5 

+O10 

117 


4X35 

-0X5 

21 

rent* per 

h 



3SJ0 

1*65 

-077 

7,902 

3550 

35X2 

-073 

i.zn 

3*90 

3*95 

-OJ7 

449 

37X0 

37 JO 

— QJB 

30* 

3*70 

3*70 

-ato 

99 


4 s no 

+ 2X0 

1 


41.00 

• Ift 

1 


Food 


SSttEC (HOEl yjeft-imiu 

2*425 77.I0Dee« 154.75 159,00 

7B 10 Mgr 95 158X0 1*5X0 
8230 Mores 1*430 168X0 
83X0 Jri OS 1*730 168X0 
171X0 Set, 95 17003 17DX0 
•IJODecPj 17260 17160 
174X0 Marta 17000 170 00 


34400 

24160 

745.10 

»M 

W235 

xajo 


Sst.sftes 9,380 Tire's safes 7X10 


15440 

158X0 

163X0 

1*4X5 

1*6.00 

16630 

170X0 


ISM -l.«S 81* 

1035 —1.1017X67 
14635 -X4S 6,MS 
167X0 —135 7.258 
14850 —230 1X50 
1*930 — XSB 845 
170X0 —765 159 


Tub’s aaenW 78X41 off nstj' 

Dll (MCSE) iizeaea 


SUGAR-WORLD l . 

1439 9.17 Mar 95 1465 1434 

1466 1857 Mavis 1851 1856 

1836 ■ 10.57 JU 95 1823 1430 


1438 

1840 

1816 


1849 —0.10100.723 

1850 —0.14 22383 
1*25 -0X1 19,910 








High 

Low Open 

Kflh 

LOW 

Oase 

Chg 

OoJnt 


lasrouta ns 

I3L54 

13X3 

13ft 

-ail 17X58 



13X7 

1197 

13X4 

-0X3 

5X14 




1182 

12X7 

-0X9 

631 

1230 

ILTOJut 9* I2J2 

1172 

1165 

1170 

-0X9 

as 

1120 

12X50096 



1163 

-OX9 


Est. pries 34X92 Tue's Pries 41373 




Tue’s open Int 177,10* dt 72 





COCOA 

1580 

(NCSB him r*:«>w.saer*Pi 

1041 Dec 94 1305 1308 127B 

1282 

_» 

1.112 

1605 

l877Ma‘9S WO 

UE 

005 

1316 

— 24 4*096 


1078 May 95 1367 

1370 

1333 

1340 

—25 

9X22 


1225X4 95 1385 

1386 

1259 

1362 

—24 

3X74 

1560 

1380 Sop 95 1 390 

1390 

1385 

1386 

-26 

1X79 

1633 

12*0 Dec *5 1414 

1414 

1414 

1416 

—26 

5,122 

167* 

1250 Mar 96 146S 

1466 

1465 

14* 

-21 

5.m 

I6C 

1225 May 96 1*87 

1487 

1487 

1477 

-21 

892 

1531 

WWJlrita 



1497 

—21 

17 

152DSOP96 1528 

1529 

1525 

1J19 

—12 


ES. softs 7,105 Tift'S- Uriel 
I Tue'scpankn 71JB3 up 31 

1387 





ORANGE ARCH (NCTN) Utau.. 


ta. 



132X0 

89X0 Jen 75 10*60 

109X0 

10*40 

107X5 

♦ 2J0 1XX66 

12435 

91X0 Mar 95 109X0 

112X0 

109X0 

111X5 

,0X5 

6361 

1X65 

97X0 May *5 11X50 
10050 Jul 95 115X5 

115X0 

11150 

114X5 

♦090 

1X97 

127X0 

117X5 

115X5 

117X0 

+1.15 

1X31 

13025 

10735 Sop 95 12000 

120X0 

119.25 

130X0 

+ 135 

1.714 


109X0 Nov 93 119X0 



119X5 


1X17 

129X0 

105ft Jon 96 119ft 

119ft 

119ft 

119ft 

+ 1JS 

96 

13000 

13*35 Mar 96 



121ft 

*105 

10 

Est, scries 2X00 Tue’s sdo 

5X85 





| Tue's ooen Irt 27334 oft 1793 






Metals 




MGRADECOFFOT ( UCMX 

zsunff 




137.10 




129.75 

-335 


137 ft 

7 575 Dec 9* 130*0 

131*5 

129.70 

13035 

—1.90 21390 

13150 

7*90 Jan 95 128ft 


128X0 

128ft 

—Oft 

1X02 

131X0 

73X0 Feb 95 12075 

127X0 

127X0 

127ft 

-073 

766 

12* JO 

73X0 Mar 95 126X0 

127X0 

125X0 

12*15 

-0X0 19X91 

125.95 

91.10 Apr 95 12550 

7 4ft Mav 95 12X00 

125ft 

12*50 

124X5 

—oxo 

477 

12430 

12130 

121ft 

12125 

—ax 

2X92 

122X0 

10*10 Jun 95 122X0 

12100 

mr’* 1 

122X0 

+ 0*5 

580 

121X8 

78X0 All 9S 119X0 

12070 

■ M I 1 ‘ I 

119ft 

—0.15 

3X*5 

118X0 


mxo 

tr ^ J 

11*55 

+O10 

357 

117X0 

79.10 Sep 95 115.90 

117X0 

115.90 

117X1 

♦oxo 

1X5? 

115X0 

113X0 Oct 95 



115X0 


192 

11*75 

88X0 Dec 95 



111X5 

-410 

2X78 

HUB 

MftJanH 



I09XS 

-040 

59 

I12J0 

6170 Mar 96 



10*55 

-0X0 

562 

1 0535 

107X0 May *6 



105X5 

-oxo 

104 





-oxo 


10535 Seta 



105X5 

-Oft 

■ 

es. soles 18X00 Tue * tens i*jii 




Tue’s open lr« 5*132 alt 3128 





SLVHJ 

tH OkUQ &W>trwa^«np«rtr9i'Bz. 



UK 

5llXNov*4 



51*5 

+0J 

I 

3800 Dec 94 516-5 

52LD 

514-5 

51*7 

+0X 39J91 

576J 

(OTXJcn 95 



51*8 

*03 


60*0 

41*5 Mar 95 S2L0 

5205 

S23X 

5211 

+03 54320 

40*5 

4160 May 95 53*0 

53*0 

5305 





4200JW93 53BX 

539X 

BU 

53*4 


9X74 




54*0 



62SX 

539XDeC« 55S-5 

ST JO 


5511 


612X 

567XJMI96 



55*6 




55*0 Mw 96 



5611 



5790 

5805 MOV 96 



5704 

+01 

5X90 

6000 




5701 



Sea 94 



58*0 

+ 0.1 







I Tift’s open in 137X56 up 4002 





PLATV4UM (NMER) SOfeveL-OMnpereurs. 



42L50 

374X0 Jwi 95 *12X0 


411 JO 



439X0 

39QX0 Apr93 41*50 

41BX0 

41*50 




<39X0 

418X0 Jul9S 



+1.10 


44130 

422X0 OafS 





S59 

439X0 

427X0 Jm 96 




+050 

Ed. scries 1X49 Tuo’* series 

1X33 




Tue’s open ue uxpo on 45e 
















426X0 

30X0 DecM 31*70 

MS 01 

38*50 




JftT« 



*+r: 



411X0 

363ft Fob 93 38670 

3B7ft 

388.10 

—y~ 



364ft Apr 95 39130 

39130 

392X0 


*(L60 13,615 

*28X0 

361 JB Jun 95 39*50 



-’Iv 


2J2 

380ft Auo 95 400X0 

ftWllA 

400X0 











400ft Dec 95 409X0 

410X0 












418XQApr 96 




♦ Oft 



41 3X0 Jun 96 




+ (Uq 



Aug 96 



427X0 

♦dm 

334 

Est saw 54X00 Tue's. sate: 

5L033 

Tue’s open mt 170X91 up 2727 






Season Sensor, 
High Law 


Open HWi Low Close Chg OP JW 


94230 

9*530 

9*210 

9*220 

91180 

92370 


* 1X131 5.109 
-14025*80 
,140188391 
+ 140 181372 
+1S0U1X47 
+ 15013*121 


Financiaf 


9460 

9*03 

9368 

93X7 


‘0X8 13688 
•813 11X62 
+ 0.13 1696 
+ 0X8 31 


U3T.BL13 itCMER) MiftM-MeMM. 

94.10 9*23 Dec 94 9437 9462 9*57 

9503 7X84 Mar 95 9X93 9*09 9X99 

9*24 7X31 Ain 95 9X66 9149 9X63 

9X57 92-99 Seo 95 

Est. softs 274* Toe’s, sales 4634 
rue’s open kit 27X79 ua 24 

l™JK»g*r (CtaOTl I tlMNerin-ra MOea 

109- 20100-123 Dec«4IOO-l«S 101-115 W0-19S 101-07 • 23 1353K 

HD-09 99-2*3 Mar 9900-QBS 100-26 100X03 100-71 + 22 29638 

100 - 08 W-19 JunH 100-07 + 22 10 

9967 99-07 Sep 93 99-38 . 22 2 

Est softs 86,500 TufA sales 47.123 

Toe’s open im 165X4* oH 3001 

IfTR-T^ASJRT (CBOD sMOASCm.- pHs BndsW 100 ks 
11+71 PMJ DecM 99-18 100-21 97- IB 100-73 +109 2S4633 

111-07 90-11 Mar »S 99- 15 100-0* 99-14 100-01 +109 

'OS-22 97-27 Junes W-Z7 99-13 90-27 99-11 +109 

101- 0* 97-11 Sep 95 90-31 99-00 90-30 98-30 *110 

110- 31 96-30 Dec 95 9B-M +)JO 

ES. softs 177,177 Tup’s, sate 104346 


SUM 

175 

5 


Tue' s open mt 

311X39 up 

3117 





US TREASURY BONDS CCBOT) rBpcf-$i90 f ooa-«%«.32nfl|tf wo mi 

118-08 


D0C94 97-09 

77-01 

97-09 

98-25 



116-20 

95-13 

Mar 9597-00 

98-12 

97-00 




115-19 

94-37 

Jun 95 97-00 

97-27 

96-28 







97-11 

96-28 








96-11 




114-06 

73-13 

Mar 96 



96-10 

.130 


100-20 

93-06 

Jun 96 



95-30 

+ 120 

28 

91-25 

93X5 

Sec 96 



95-19 

+ 1» 

2 


Est. soles 500X00 Tuc'xsam 384X35 
Toe’s open W 457,093 10 465 
MUMOPAL BONDS (CBOT) llinhlftuglillMsanisa 
n-17 80-31 DecM 82-17 84-10 82-15 83-15 *120 2*6*1 
«8-09 79-2* Meh 81-13 83-10 81-13 82-13 * I » 96*1 

Es. sales 1 *W 0 Tue’xsaes 11.774 
Tug’s open H 3*304 up 1199 
ElnDOUARS (CMBt) li moeon-orsotlOOcrt 
W-K* «.n&DecW 71900 91990 939® HMD >5030,158 
9iffl0 90 340 Mar 95 93330 914» 91330 9XM0 *90459,577 


90710 Jun 95 92730 9X800 92730 9X850 
91J105ep9S 923ft 92-500 72340 9X660 
91.100 Dec 95 92X40 92.100 9X840 911*0 
90750 Mar 9* 92X30 9X1® 92X20 9X000 
*1790 Jun 96 91.910 91.990 91.910 91.980 

91 730 Sen 94 91X50 91320 91X40 *1.910 

Ed. sales 502630 Tue’Xsaos 3TJ/6S 
WiawW 17213*4 M> 21587 
BRITISH POWD (CMER) lawpauna-iaeftteauaNsoxgn 
16436 1-4500 DecM 1-567* 1.5762 13670 136*2 +18 49,121 

13440 16640 Mcr 95 13730 13760 136® 13690 +18 2X41 

13380 lJJ4LAm95 13700 1J7A0 13*90 13682 +18 122 

Est series 11,278 Tift's, sales 1X128 
Tue*s open W 51387 up 1377 

CANADMNDOU-AR (CM12RJ % per i*r- InoMeouaH 1*0001 
07670 0.7038 DOC 94 07269 07288 07365 0727S -3 *0343 

07405 07X20 Mar 95 072® 07284 0736* 0.7277 -3 2J65 

07532 06990 Jun 95 07270 0.7275 07270 07270 —5 1J1B 

07438 0X965 SOP 95 07242 —6 9M 

07*0 070® Dec 95 07252 — 7 M 

07333 0.731 Q Mar 94 07240 —8 7 

Ed. iotas *374 Tue’xsafts 9705 
Tue's open W *4 jn w 1501 

GERMAN MARK (ODER) UwnoK- 1 Mint mud, sum 
03731 03590 Dec 94 03436 03*67 0343S 03439 +14 *77*8 

037*5 038 10 Mcr 95 03449 03474 03447 03452 

03747 039® .ton 95 03490 03410 0345 0347* 

0040 0047 SAP 95 06499 

Est- softs 217*9 Tue’s. series 30,1*3 
Tue’s aaen Int 107345 up 1395 

JAPANESE YEN (CMERJ (perwv 1 eeHeauabtOtHOOl 
OOlO49(ZlX09525Dec94 OXlO195D.01OZ3OOXlDlBftXlO187 
QJ3105*aU309480Mar 950X103000X1031 50X102720X10174 
QJiapqL009776Jup95 0X104130X10413001X3850X10385 
CUntETSLmiaaaegH 0070495 

S-SJSSS-SStliS? 11 W 0X106100X106100X10*100X10604 
OL01093CD-D107IIQMar9* 0X10717 

Esi.eetes 15.715 Tim’s, sales 22314 
TUe's ooen int 8*959 up 315 
SlTK FRANC (CMERJ spertaiK- 1 pehliaftumi 
031M 0388SDec94 075® 07646 07579 07407 

KJgMOTK QJtM 07419 07642 

0X1*5 0.71 73 Jun 75 077® 07715 07680 07488 

0X153 0X091 Set, 95 07735 

Est. softs 15X19 Tue’s. softs 19758 
Tue’s Open Inf *0X55 up 1430 


♦14 8^75 
+ 13 13M 
♦ 73 1)6 


75317 

J 

—6 « 


♦3* 54217 

♦37 3B7 

+37 8 


Industrials 


memo Snag las. 



74ft 

74.50 


42.50 Mar 75 

7*60 



6 * 00 May 95 

77 J5 



69X0 Jul 93 

78.15 



4*60 Oct 95 




6*23 DOC 95 

7025 



48X0 Mar 76 





59X0 
6X25 
5875 
I57JOI 
5115 
15430 
1 53-50 
53.10 
SAM 
5730 
1 5830 
»J0 


7735 
7X15 
7X55 
7X75 
7420 
7X80 

71X0 

MOV 9* 

Est. softs 8X00 Tue's. softs 16X55 
Tue's open ml 50357 oft 1362 
HEATTNOptL (NMBU AC0a«+cna w 
4430 Dec 04 4935 53.90 49, rs 

4L25JW19S 50® 

47.93 Feb 95 5070 
*7J»Mor9S 5X75 
43X5 Apr 95 5035 
<7X0 May 95 49X5 
4*79 Jun 95 4930 
«3fSep95 SUB 
5130 Now 95 5270 
52X5 Dec 95 5125 
50X0 Jan 94 5435 
SipoFebta 5430 

— 52376 Tue's. salt,, ^ 

Tue’s ope n ft* 151799 off 191 * 

LIGHT SWEET CRUDE (NMER) IXDDBM- 
lil5Jon9S IWl H — ® 
15. 28 Feb 95 1776 
lSX2M£e»5 1779 
1 535 Apr 95 17X0 
1539 Mav 95 17X1 
1573 Jun 95 1730 
I6XSJU195 17X2 
1*16 Aug 95 17X5 
17.40 Sap 95 17X9 
1*42 Od 95 1X02 
17. lj Nov 95 17.98 
1*50 Dec 95 17.95 
17X5 Jon 96 1BJU 
1 7+4 Fab 96 1X10 
17.15Mor» 

17X1 APT 96 
1832 MOV 96 
17^ Jun 9* 

1X38 Septa 1831 
s — . 1730 DecM 183a 

Ell. softs »Xun Tue’s. sales *i 
Tua^SftwntrS 371753 Off 7525 


7195 

7*28 

77X3 

7X33 

71X8 

7035 

71.18 

7160 


♦ 037 3,104 

+0.98 29X77 
,0X7 8305 
+088 535* 
+0X8 £3 

,035 HH 

♦ 0-38 40 

+ 1.U 


5135 49J5 

5-S aj0 

a-s s 7 * 

50-50 50.15 

49-85 4930 

4975 49J0 

57X0 51X0 

S2JO 5235 
5175 5175 

5*25 54X5 

MJO 

32X10 


5030 

51.15 

31.70 

51- 40 
5030 
4930 
4930 
51.00 

52- 55 
5125 
5425 
5430 


+ 135 ZL5I3 
-130 4*000 
*133 26X95 
♦ 1,13 14X65 
♦an 9372 
+048 5.11* 
+023 7X94 
+038 2.W 
+ 0XS 

+033 5Xft 

+038 

+028 


1935 

1*30 

703* 

1*38 

19X4 

7030 

T7X7 

19X7 

1X60 

19.17 

19.04 

30X0 

21.15 


18X0 

1X17 

1832 

20X0 

11837. 

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INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 24, 1994 


Page 13 


• ‘ - H' . 1 


^Germany Posts Leipzig Leaps Back to Prosperity 

. . rowth New Fairgrounds Aims to Be East- West Trade Bridge 


FhmWurt ' London • • " Paris 
DAX. : f • • FT££1(»ftHlex CAC4Q 


“■Si 


In Money Supply 




FRANKFURT — Germa- 
ny's M3 money supply grew at 
the slowest rate of the year in 
October, the Bundesbank said 
Wednesday, expanding at an 
annualized 6.9 percent. 

Economists said the October 
growth rate, which slowed from 
7.8 percent in September, 
showed there was still a chance 
that M3 expansion would fall 
into the Bundesbank's target 
corridor of 4 percent to 6 per- 
cent growth by December. 

The Bundesbank uses M3, the 
widest measure of the German 
money supply, to guide its inter- 
est-fate policy. It has kept rates 
cm hold since July, halting a two- 
year series of reductions. The 
bank's policy council meets to 
ponder its next move Thursday. 

Analysts said the Bundes- 
tefeank was unlikely to adjust 
rates in light of the slower moo- 


ny’s newly legalized money- 
market funds, which are not 
counted as part of M3. 

(Bloomberg, Reuters) 


- t\t 

‘ *i*\n 


* 1 


Ju. 


ey supply growth. 
The Bundesban 


The Bundesbank attributed 
the money-growth slowdown to 
strong purchases of long-term 
bonds and inflows into Germa- 


Commerzbank AG on 
Wednesday posted an operat- 
ing profit of 660 million DM for 
the first 10 months of the year, 
down 27 percent from the 1993 
period, news agencies reported. 

The bank said pretax profit 
for the first 10 months rose 43 
percent, to 1J billion DM, be- 
cause of gains from the merger 
with Commerzbank -Credit AG 
in SaarbrQcken and proceeds 
from the sale of stakes in the 
dqjartmenl store chain Karsladi 
AG and in DBV Holding AG. 

On another point, Martin 
Kohlhaussen, chairman of 
Commerzbank, said the bank 
had acquired SI percent of Hy- 
po theken bank in Essen. The 
deal, which he said would be 
profitable for Commerzbank, is 
subject to approval by the Fed- 
eral Competition Office. 

(Reuters, Bloomberg) 


EU Optimistic on Recovery 
But Warns on Joblessness 


Compiled by (hr Staff Fran Dispatches 

BRUSSELS — The Europe- 
an Union is accelerating out of 
recession, but it risks leaving its 
nearly 18 million unemployed 
behind unless it takes urgent 
steps, the European Commis- 
sion said Wednesday. 

“Unemployment rates are 
much too high for economies in 
strong recovery,'' said Henning 
Christophersen, the economic 
affairs commissioner. “We 
can't live with this. We must 
have st r uctura l change. 1 ' 

Mr. Christophersen also 
warned that government bud- 
get deficits would remain far 
too high and inflation rates 
utHild creep up. 

** The commission said eco- 
nomic growth in the 12-nation 
Union would climb to 2.6 per- 
cent this year and 3.2 percent in 


1996 after a decline of 0.4 per- 
cent in 1993. 

“We are now seeing a rather 
vigorous and sustained recov- 
ery,' 1 Mr. Christophersen said. 
“If we are cautious as far as 
economic policy is concerned, I 
think we could have a rather 
long period of sustained eco- 
nomic growth 

But unemployment, current- 
ly'at 10.7 percent of the work 
force, would average 10.9 per- 
cent this year and only drift 
down to 9.8 percent in 1996. 

Separately, the EU’s execu- 
tive agency offered new propos- 
als for creating jobs. 

The ideas, ranging from bet- 
ter vocational training to en- 
couraging part-time employ- 
ment and more flexible working 
hours, trill be presented to EU 
leaders Dec. 9 and 10. 

(Reuters, AP) 


By Brandon Mitchener 

International Herald Tribune 

LEIPZIG — At a former airfield 10 
miles (16 kilometers) northwest of Leip- 
zig, an army of earth-movers, construc- 
tion cranes and men wielding hammers is 
building what will be Europe’s most 
modem trade fairgrounds, a place where 
West meets East to swap ideas and do 
business. 

At a cost of 1.34 billion Deutsche 
marks ($863 million 1 300 million DM of 
which will be borne by Bonn, the Leipzig 
Fair GmbH is also one of the biggest 
temporary job-creation machines in 
Eastern Germany and a symbol of the 
East's growing determination to bounce 
back to prosperity on its own terms. 

“The fair is a trend-setter for the entire 
development of the East" said its man- 
aging director. Cornelia Wohlfahrth. 

The new fairgrounds, now half-fin- 
ished, will have been rushed from the 
drawing board to reality in record time 
— less than two years. It is to officially 
open in April, and construction is said to 
be running on schedule. 

While commercial interests from the 
West have driven most of the develop- 
ment in Eastern Germany in the Five 
years since German unification, Leipzig 
is starting to put its own interests first. 

The city of Leipzig and state of Saxony, 
the Leipzig Fair’s co-owners, eschewed 
the usual German practice of assigning a 
general contractor, which would have left 
major derisions on suppliers up to outsid- 
ers from Western Germany. 

Instead, by choosing subcontractors 
themselves, they have managed to give 
54 percent of the lucrative business to 
East German companies. In East Ger- 
many as a whole, the average local value 
added is less than 40 percent. 

Other contracts circumvented Germa- 
ny entirely. When West German compa- 
nies made what the Leipzig Fair consid- 
ered exorbitant bids for die special glass 
to shelter its main hail, they' had it im- 
ported from the United States. “We 


don’t settle for extortion," said Michael 
Wagner, a construction supervisor. 

The main hall is a long, round-roofed 
glass building modeled on Leipzig's 
main train station and the “crystal pal- 
aces” of the 19th century. Filled with 
(dive trees and places to eat. it connects 
the trade fair’s five main exhibition Halls, 
each of which measures 20.000 square 
meters (215,000 square feet). 

When construction is finished in 
April, the Leipzig Fair is expected to be 
Europe's most modem exhibition space. 


The fair is a trend- 
setter for the entire 
development of the 
East. 9 

Cornelia WohUahrthf wwmgnig 
director, Leipzig Fair GmbH 


with movable walls, more doors than 
usual, double floors and wide delivery 
yards, according to its builders. 

“We're much more functional than the 
others, 1 * Mrs. Wohlfahrth said in answer 
to skepticism from Frankfort, Munich 
and Berlin, the other established Ger- 
man convention centers, which could 
lose business to Leipzig. “That has ad- 
vantages both for us and for exhibitors.” 

She said the Leipzig fairgrounds’ size 
also could easily be doubled. 

With an autobahn and the Lripzig- 
Halle airport nearby, the grounds are 
well connected, too. The site is also ex- 
pected to get a high-speed train rail sta- 
tion and wU be connected to downtown 
by a new tram line: 

More important, Leipzig’s role as an 
East-West crossroads for commerce has 
not been forgotten in the excitement of 
Goman unification. 

Emperor Maximilian I gave Leipzig 
permission to hold trade fairs in 1496. 


and it has been a leading convention 
center ever since. 

On Friday, the fair celebrates the 100th 
anniversary of the Mustennesse, an exhi- 
bition concept that it helped to develop, in 
which exhibitors only display samples of 
their goods and take orders for them, 
rather than sell them on Lhe spot. 

With one of its mottos being, “We’re 
old enough to start something new,” the 
fair has abandoned Leipzig's traditional 
cycle of semiannual universal trade fairs 
and plans to concentrate instead on a 
series of specialized fairs devoted to 
fashion, books, environmental technol- 
ogy and silverware. 

A radio fair this summer, for example, 
attracted a crowd of broadcasters from 
Latvia, Estonia, Ukraine and other 
countries of Eastern Europe. 

“We see ourselves as a bridge for Bast- 
West trade,” said Mrs. Wohlfahrth. 

Although it is difficult to estimate the 
exact economic importance of the Leip- 
zig Fair, Hinrich Lehmann-Grube, Leip- 
zig’s mayor, said it had made a “consid- 
erable contribution” to the region’s 
economy, as well as to its cultural life. 

In 1993, the Leipzig Fair accounted 
directly and indirectly for 4,700 jobs in 
and around Leipzig, according to prelim- 
inary figures from a study by the Eco- 
nomics Ministry. Exhibitors spent 131 
million DM, visitors 88 million DM and 
the fair itself 175 million DM. Tax reve- 
nue related to the fair amounted to 10 
million DM. 

Beyond its economic contribution, 
many locals say the fairs can take at least 
partial credit for having brought about 
German unification. 

But because of the lack of hotels, fair 
participants often had to rent private 
rooms from locals, according to Berad- 
Lutz Lange, a cabaret artist. The hotel 
stuation brought West German and for- 
eign convention guests together with 
East German residents and was a con- 
stant source of information and inspira- 
tion, he said. 





. ..na>4’ 
Exchange 


1994- 


Frankfurt 


London 

London 


ASX • / 4<&fl0 ■ : 406.44'.- 

r St^ lhdex >•" !11r = : v 7,166.f6 7,175.70: i 4X13 '; 
DAX ; 2fi3331 

•: =■ -r Ttjeutg " 7805$; . 

HEX Y' v • I.eSZiSI ' j 

2.369. W f 

ffPSei.tQQ' ‘ ' ■ ; .3,027.80 • 3,074-70 


■ Pari*?. ' CAC.40/ c 
Stockholm : ^ .Afewswawhten: , 


Sources : Reuters. AFP 


•09 1#re.43 ; //4X96^ 

:14 : 7.914iia.:-. rim 

913^;v 

lufct na nonal Hcnld Tribune 


Toledano Steps Down as Lagerfeld President 


By Amy M. Spindler 

Vr»- Yerk Times Service 

In a move that took the retailing com- 
munity by surprise, Karl Lagerfeld SA. the 
French fashion house, has announced that 
Ralph Toledano. its president for 10 years, 
had left the company. 

He will be replaced by Marc Vincent 
who will take the title of managing direc- 
tor, the company said. Mr. Vincent was the 
managing director of Valentino, the Italian 


fashion house, for seven years, and before 
that manag in g director of Yves Saint Lau- 
rent's European operations for 10 years. 

A statement, signed by M.T. Moufar- 
rige, director general of Lagerfeld, ex- 
pressed “thanks to Ralph for his support 
during the past two years and the contribu- 
tion he made to the development of the 
business.’' Mr. Moufarrige was brought in 
by Dunhill Holdings PLC in 1992, when 
Du n h i 11 bought Lagerfeld. 


The parting seems to have been a sud- 
den one. As recently as Nov. 9. Mr. Tole- 
dano was in New York with Mr. Lagerfe/d 
to promote the house's newest perfume. 
Sun, Moon and Stars. His departure does 
not seem to have resulted from a confron- 
tation with Mr. Lagerfeld, the often com- 
bative designer. 

Mr. Moufarrige could not be reached for 
comment. Mr. Toledano would not discuss 
the details of his departure or of his plans. 


Very briefly; 

• Store Kopparbergs Bergslags AB’s pretax profit surged to 2.04 
billion Swedish kronor ($278 million) in the first nine months of 
the year from 294 milli on kronor a year earlier, helped by higher 
demand for forest products and a one-time gain of 914 milli on 
kronor from selling its stakes in other companies. 

• Thyssen AG posted net profit of 90 million Deutsche marks ($58 
million) in the year to September, reversing a net loss of 994 
million DM a year earlier, helped by a 4 percent increase in sales. 

• British Aerospace PLC plans to cut 750 jobs from two factories 
in its Abbas Industrie division because of “the continuing de- 
pressed state of (he airline market.” 

• Union Mimfere SA of Belgium plans to sell 95 percent of its 
Swedish zinc mining b usiness to Ammeberg Mining Corp. for 
between 12 billion kronor and 1.4 billion kronor. 

• Coartmdds PLCs first-half pretax profit fell nearly 16 percent, 
to £81 million ($127 million), but the year-earlier figure was 
inflated by a one-time gain. Sales were stable at £1.03 billion. 

• The Eraopean Commission warned the European Union to act 

before Jan. 1, 1996, to end all state monopolies on mobile 
communications services. Reuters. Bloomberg, AFX. A FP 


Nestle’ s Reports Sales Drop 


Reuters 

VEVEY, Switzerland — 
Nesllfc SA, the world’s larg- 
est food and beverages 
group, posted lower sales 
Wednesday for the Fust 10 
months of 1994 but forecast 
higher profit for the year 
and 1995. 

Group sales for January- 
October were 45.9 billion 


Swiss francs ($35 billion), 
down 1.5 percent from last 
year and below most fore- 
casts. The company was hit 
hard by the drop of most 
foreign currencies against 
the Swiss franc this year. 

Helmut Maucher, the 
chief executive, remained 
optimistic about the earn- 
ings outlook. 



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INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 24, 1994 


Page 15 


ASIA/PACIFIC 




s Drop Drags 
rices Lower 


“T Asmn share prices fen 
sto&V Wednesday; with the Hong Kong market 
pbnmnetxag 4 percent, after U.S. stocks suffered 
a soup drop. 

On Tu^day, the Dow Jones industrial average 
dropped 9152 points. as investors worried about 
rising- interest rates and the U.S. political out- 
look- Shocked investors continued the sell-off 

into Asian trading, dragging stock indexes sharp- 
ly lower across the region. 

In Hong Kong, the blue-chip Hang Seng index 

plummeted 544 points, or 6 percent, in the Orel 
!5 minutes of trading. The index finished at 
8,576.03, down 372.40 points, or 4 percent 

“There is no doubt we have seen some panic 
seflmg,” .said Clive Weedon, head of sales and 
rcsearch at Asia Equity Ltd. 

Archie Hart, research manager at Crosby Se- 
curities Ltd., said, “Everyone was selling the 
market a month ago because of inflation, and 
now everyone is setting because of recession. 

It’s getting fairly nonsensical.” 

Analysts said a decline on Wall Street often 
had an exaggerated effect on Hong Kong be- 
cause of a cnrreocy link. 

The Hong Kong dollar’s link to the U.S. dollar 
meant that when the Federal Reserve raised 
benchmark interest rates by 0.75 of a percentage 
v*%oint in the United States last week. Hong Kong 
lending and deposit rates went up by an identical 
amount. 

Pauline Gately, a strategist at Smith New 
Court Ltd, said that money leaving the stock 
market was not necessarily going into bonds. “I 
would think that a lot of people are going to be 


rq^rding cash as king right now," she said. 

Thai stocks were another big casualty in early 
trading, plummeting dose to 6 percent in the 
first two minutes on across-the-board selling. 
Bangkok’s key index fell 5 percent, to J. 332.85. 

Stock markets in Australia and Singapore also 
fell 

In Sydney, the All Ordinaries Index fell 20.60 
points, or 1 percent, to 1,857.10. 

Singapore's 30- share Straits Times index 
dropped 2 percent, to 2,217.81. 

“No matter how sound our fundamentals are, 
we can’t stop the bearish wave." one broker in 
Singapore said. 

The Tokyo stock market was dosed for the 
Labor Thanksgiving holiday. 

New Zealand stocks dropped 3 percent in 
what one stock analysL called a “mmi-crash.” 
The NZSE-40 index ended down 56.48 points at 
1,95233. 

Share prices in Manil a and Kuala Lumpur did 
not escape the carnage. The Kuala Lumpur 
Composite index fell more than 2 percent to 
1,001.80, while the Philippines composite index 
dropped more than 4 percent to 2,725.75. 

In Seoul, the Composite Index ended down I 
percent at 1,095.97. Initially, the index rose 
slightly on what brokers said was optimism 
about corporate profits for the end of the year. 

Taiwan stocks proved resilient, rising 26.2) 
points to 6,371.48. 

“Falls in Hong Kong are due to the withdraw- 
al of foreign funds, but the same situation should 
not happen here, because foreign funds can not 
come and go so freely," one broker in Taipei 
said. (Reuters, Bloomberg ) 


Chirm Looks to Open Futures Trade 


a- 


Reuten 

BEUING — China’s 
pal futures market, the isegmg 
Commodity Exchange, could 
be open to foreign participation 
within three years, - but until 
then foreign companies can 
trade in China’s thriving futures 
markets through the exchange’s 
Chinese members, according to 
the exchange's vice president 

“China’s futures market is 
still in its infancy and we are 
learning as we go, but we hope 
that when we are familiar with 
the system, then perhaps for- 
eigners can participate,” Chen 
Gongyan said in an interview. 
He said be hoped this would 
happen “in about threevears.” 

“We have to forbid it while 
we see bow thing s progress, 
though we are not really forbid- 
•^pg foreigners from participat- 
ing, just from becoming mem- 
bers of the exchange,” he said. 

Foreigners; are allowed to 
trade in China’s volatile young 


exchanges through local or joint 
venture brokerages. 

The exchange will mark its 
first anniversary Dec. 15 with a 
two-day international confer- 
ence that Mr. Choi said would 
examine the development of 
China’s futures markets and 
risk management. - 

“The focal point of the con- 
ference is risk control because 
the basic need is not for devel- 
opment but for survival,” he 
- said: “Survival cranes first, de- 
velopment second. Only if we 
survive can we dOf'cIpp.” 

Trading on China’s commod- 
. ities exchanges has cooled 
sharply since a government in- 
vestigation in June, after wild 
: price . fluctuations resulted in 
the closure of most of the esti- 
mated 40 exchanges. 

Mr. Chen, said the exchange’s 
daily turnover had risen to an 
average of 10 billion yuan 
($1.17 billion) from a daily av- 
erage of 4 billion yuan in 


March. Industry sources attrib- 
uted the increase to a govern- 
ment ban imposed in Septem- 
ber on domestic companies 
trading on foreign exchanges. 

The government licensed 1 1 
commodities exchanges in Oc- 
tober, and four more are ex- 
pected to open next year. 

■ Options Details Revealed 

The Stock Exchange of Hong 
Kong unveiled details of its 
traded options market, pledg- 
ing to work with the rival Fu- 
tures Exchange to develop the 
territory’s derivatives markets, 
Bloomberg Business News re- 
ported. 

The chief executive, Paul 
Chow, said the exchange 
planned initially to offer op- 
tions on about 40 listed stocks, 
selecting companies with a 
large marke t capitalization and 
sizeable trading volume. The 
options contracts are due to be 
launched Aug. 1, 1995, he said. 


Hyundai Looking 
To New Markets 
For Sales Boost 


Hewers 

SEOUL — Hyundai Mo- 
tor Co. has pinned its hopes 
on untapped markets in Asia 
and Africa in its drive to 
become one of the world’s 
top 10 automakers. 

Facing faltering sales in 
North America, its main ex- 
port market, Hyundai is 
stepping up efforts to set up 
production and marketing 
bases in China, Southeast 
Asia, the Middle East and 
Africa, company executives 
said Wednesday. 

Hyundai’s shipments to 
the United States, which 
peaked at 300,000 vehicles in 
1988, plunged to 91,300 last 
year. 

“In the end, we hope we 
will be able to produce vehi- 
cles in North Korea,” said 
Kim Noi Myung, executive 
managing director erf Hyun- 
dai Motor. 

Hyundai plans to move 
into North Korea to pro- 
duce trucks and other utility 
vehicles once the Commu- 
nist country opens up for 
economic reforms, he said. 

Mr. Kim said his compa- 
ny’s revenue was expected to 
reach $1 13 billion this year, 
up from S8.9 billion in 1993, 
with net profit rising to $120 
million from $51.5 million 
last year. 

Hyundai, founded in 
1967, said it would increase 
the number of its export des- 
tinations to 190 countries 
this year from 140 at the end 
of 1993. 

The company produces 
relatively few cars and 
trucks overseas at present 
Its most ambitious plan, 
to secure part of the poten- 
tially huge Chinese market 
has run into difficulties. 

“Top managers at Hyun- 
dai have been discussing lo- 
cal production in China for 
years," Mr. Kim said. China 
wants to limit Hyundai's 
production there to parts, 
but the South Korean com- 
pany' wants to produce fully 
assembled cars from plants 
there. 

Hyundai has recently be- 
gun assembling cars in Thai- 


land. Botswana and Zimba- 
bwe and is building 
assembly plants in Egypt 
Indonesia and the Philip- 
pines. The company is nego- 
tiating with Malaysia and 
Turkey for local operations, 
Mr. Kim said. 

Hyundai plans to produce 
more than 300,000 units 
overseas in 2000, by which 
time it wants to become one 
of the world’s top 10 car- 
makers, with annual produc- 
tion capacity of more than 2 

milli on 

It says it now ranks as the 
14th largest carmaker in 
terms of output. 

In 1993, Hyundai sold 
966,000 vehicles, up 14 per- 


Hyundai has 
recently began 
assembling cars 
in Thailand, 
Botswana and 
Zimbabwe. 


cent from 1992, accounting 
for 68 percent erf South Ko- 
rea’s total sales of 1.43 mil- 
lion vehicles. 

Of last year’s total, it ex- 
ported 350,000, more than 
half the nation's total ex- 
ports of 639.000 vehicles. 

Hyundai executives said 
sales would rise to 1.15 mil- 
lion vehicles this year. 

■ Car P lant for Jakarta 

The leaders of Indonesia 
and South Korea discussed 
plans for a factory to assem- 
ble Korean cars m Indone- 
sia, a government minis ter 
said Wednesday, according 
to an Associated Press dis- 
patch from Jakarta. 

President Kim Young 
Sam of South Korea ana 
President Suharto of Indo- 
nesia spoke about the plan 
by telephone, the minister 
said. 

Mr. Suharto told Mr. Kim 
that be would ask his eco- 
nomic ministers to discuss 
the matter with their Korean 
counterparts, he said. 


Philippines 


Pressed to 

I- Hong Maujgn ? m ;; \ 1 

1 ■ imtn " - ' ' ' — • • • •" ~ : '-‘228B ^ 

Reform 


Tax Laws 

i ■ w - Ay- ; ■■«****•!*?■ * ; ; ■ S*." : ...Sj 


Bloomberg Business Nevvs 

MANILA — The head of the 
country’s largest conglomerate 
said Wednesday the govern- 
ment had to enact bolder mea- 
sures to ensure the competitive- 
ness of Philippine industries. 

“For Philippine Firms to 
thrive, we need the continued 
support of an enlightened gov- 
ernment to place us on a more 
competitive footing,*’ said 
Andres Soriano 3d, chairman of 
San Miguel Corp. 

San Miguel a brewery, soft- 
drinks, foods and 
concern, generates 4 percent 
the Philippines' gross national 
product and was the nation’s 
largest taxpayer last year. 

Speaking at the Philippine 
Bumness Conference, Mr. Sor- 
iano said the reforms achieved 
so far, such as the lifting of 
foreign exchange controls and 
the opening up of the banking 
system to foreign competition, 
were a strong start. 

“But we still need even 
bolder moves," he said, with a 
top priority of simplifying the 
tax system. 

In 1984. in the midst of the 


. •■ft ' 




imes'V' ■ ■ ■’ , JBtfBMS- -"-2-30 








■Tim . : U -,vr-r 

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gggAis-. 1 : 


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Btipmay; ' . •! .■ : t,asg.4s. V-t# 


-t&r 


Sources: Reuters. AFP 


Uncnuuoaal Herald Tnhune 


Very briefly: 


country’s worst postwar reces- 
el aco 


si on, San Miguel accounted for 
4 percent of all its tax revenue. 
Last year, its shares was about 7 
percent, or nearly $9 billion. 

“We fed that as the economy 
grows, our burden would at 
least remain stable and ratio- 
nally should even have de- 
creased," Mr. Soriano said 
He also urged increased in- 
vestments in infrastructure and 
improved assurances of the 
safety of foreign investors and 
called for increased spending 
on education. 

“If we wish to reduce the eco- 
nomic gap that divides society, 
we need to underpin market re- 
forms with major investments 
in education," he said 
Last month. Michel Camdes- 
sus, managing director of the 
International Monetary Fund 
said economic reforms had put 
the Philippines on the brink of a 
“new era of prosperity.” 

But he warned that economic 
recovery could be derailed un- 
less the government reformed 
the tax system and kept a tight 
leash on inflation. 


>ted Australian beef for the first time since sales 
were suspended last week amid a pesticide contamination scare. 

• Taiwan’s gross national product rose a less- than -expected 6.08 
percent in the third quarter from a year earlier, the government 
said GNP is expected to grow 6.90 percent in the fourth quarter. 

• HKR International Ltd. bought a property at a government 
auction for 372 million Hong Kong dollars ($48 million). The 
price was in the middle of market expectations. 

• flhma is drafting regulations to prevent enterprises from declar- 
ing bankruptcy to avoid repaying debts. 

Bloomberg, Reuters, Kraght-RkUtr 


ANZ’s Annual Net Triples 
As Bad Debts Are Halved 


Reuters 

MELBOURNE — Australia 
& New Zealand Banking Group 
Ltd, one of Australia's four 
biggest banks, said Wednesday 
that by slashing its debt it was 
able to more than triple its an- 
nual profit. 

ANZ outstripped expecta- 
tions with a net profit of 821.9 
milli on Australian dollars ($627 
million) in the year ended Sept. 
30, as bad debts were nearly 
halved to 368.6 million dollars. 

ANZ said it was confident of 
surpassing the performance of 
National Australia Bank Ltd., 
Australia's most profitable 
company and leading bank. 


“The strong result which has 
been achieved in 1994 clearly 
indicates that the recovery 
phase is now behind ANZ,” 
Don Mercer, chief executive, 
said. 


Mr. Mercer said ANZ's re- 
turn on shareholder equity had 
improved in the second half of 
the year over the first, while 
(bat of some of its competitors, 
had deteriorated. 

ANZ’s earnings over the pre- 
vious four years were scarred by 
massive charges for bad debts, a 
legacy of heavy lending to high- 
ly leveraged entrepreneurs and 
property developers. 










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Wednesday's Closing 

1 abtes include the nationwide pnees up to 
she dosing on Wall Street and do not reflec 
1lat» trades elsewhere. Via The Associated Press 


How do you build a car that has to live up to some amazing automotive 
reputations? The best way we know is to borrow a little from each. And that’s 
just what we’ve done with the new Neon. From Chiysler’s Vision we’ve taken 
cab-forward design, which gives the car a wide track for precise handling while 
maximizing interior space. And speaking of spade, Neon makes imaginative 


of its 16-valve, 132 horsepower [98 kW) engine can’t help but jemind ^u rf 


Viper’s love of the open road. And there’s a spirit of advecLtiuu that undoubtedly, 
comes from Jeep, Grand Cherokee. But as much as i 

' • . -i.-jy - ?* -V. ; f*.fr *Mr.- ir £-K‘?-?.:*Z!£‘£ 



























u* Ij&O 


INTERNATIONAL HI RALD TRIBUNE, THURSDAY, NOVEMBER 24, 1994 


Page 17 



(3rey£w4z«it«nd 





















































































Page 1» 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 24, 1994 


SPORTS 



Gary Treaty a Star on the Court , Gives His Father a Shot at Success 


By Harvey Araton 

New York Times Service 


NEW YORK — The father was doing 
time in federal prison when he realized 
that the cycle of failure is not impossible to 
break. On the television screen, the child 
he had left behind a handful of years before 
was now 6 feet, 8 inches tall, 240 pounds, 
the best player in a college basketball game. 

Dexter Trent remembered days on the 
Columbus, Ohio, playgrounds when the 
oldest of his three kids insisted football 
was going to be his sport. Even at 13, Gary 
Trent was big, like his mother’s five broth- 
ers, and fast. He liked the contact, too. 

“He bumped into things,” Dexter Trent 
said Tuesday from Columbus. “When he 
was a baby, we started calling him Bump. 
We still do.” 

The game became basketball when jump 
was added to bump, when Gary Trent went 


to high school and grew to be 6-5 <1.97 
meters). By that time, his father was gone, to 
a prison in Ashland, Kentucky, sentenced, 
at 31, to life for dealing crack cocaine. 

Dexter Trent was guilty of many things, 
all right, but now he wanted to say that 
failing to love his children certainly wasn't 
one erf them. 

“What I was doing was wrong, but what 
I was doing with my money was right,” he 
said. “I dealt drugs. I was damned good at 
it But the money f made was for my kids. I 
didn’t want them to grow up with nothing, 
like me." 

His own father, gone from his life before 
he could walk, drank himself to an early 
death. Dexter Trent was raised by his 
grandmother. He met his wife, Cheryl 
Gunnell, in seventh grade. They had their 
first child at 17. The street he said, seemed 
the only way to go. It led him down his 


father's road. Awash in trouble, away from 
his kids. 

“Don’t be like me,” he’d say, when Gary 
would visit “Be better than me.” 

His son had inherited his easy smile, his 
gift for gab, but had also kepi mowing, and 
soon was calking about all the points he 
was scoring at Hamilton Township High 
School. 

Down in Athens, Ohio University’s bas- 
ketball coach, Larry Hunter, heard about 
Trent from contacts in Columbus. The kid 
was right in Ohio State’s backyard, but the 
Big Ten power was taking a pass. 

“There was some baggage," Hunter 
said. Trent’s grades were poor. He hadn’t 
scored the minimum cm his college en- 
trance exam. He liked to hang out His 
father sold crack. 

Hunter, with no stars begging to play for 


him, heard encouraging reports. Trent’s 
situation looked worse it was. His 
high school coach called him bright loyal, 
determined. 

Hunter called him up, offered a scholar- 
ship. Right on the phone, without so much 
as a visit to Athens. Trent said yes. 

Putting the city behind him wasn’t going 
to be that simple. Hunter got him out of 
bed every morning at 6 A.M. to lift 
weights. He sent him to study hall three 
hours every day, to the gym to work on h is 
jump shoL He ass ign ed another player to 


stay close to hum at night. 
Soon, 


the freshman had passed his ex- 
ams. He’d grown three indies and quickly 
become Hunter’s best player, a profession- 
al forward in the making. Down in Ash- 
land, Dexter Trent was suddenly a celebri- 
ty among 1,500 inmates. That was his boy. 
dunking on TV. 


“When I saw him, the first thing 2 said 
was, ’If he can do that, then I can make it 
out of here,’ " he said. 

"He inspired me, gave me hope. I want- 
ed to be there with him, with my whole 
family. It made me toe the line because I 
realized if there was any chance of getting 
out, I couldn't have one flaw against me.” 

Over the years, Dexter Trent’s sentence 
had been reduced, to 60 years, then 12. He 
wrote his own petition to file for early 
release. The court appointed a lawyer, Ken 
Murray, to handle his case. 

Alter six years and seven months in 
prison, Dexter Trent returned home last 
May, to do handiwork at his wife’s hair 
salon. Father and son worked clinics to- 
gether last summer in Columbus, deliver- 
ing their dual messages to kids. And last 
week, Ohio U. happened into Columbus, 


to play Ohio State in the fust round of the. 
Nati onal Invitation Tournament 


Ohio U. won. Gary Tbenfa preseason 
ored 


All America, scored' 26 points. Dexter 
Trent sat behind the Ohio bench. “Early 
Thanksgiving,” he said. 

His son, a junior, is likely to become a 
wealthy pro. Dexter Trent said, “I tell 
Gary, *Gtt me a rocking chair, 1 want out 
erf the rat race.’ ” 

In a new rap song. SbaqwUe O’Neal, the 
National Basketball Association star, tells 
of the biological father who deserted him, 
only to resurface when he struck it rich. At 
the Marriott Marquis, in New York City 
for Wednesday night’s NIT semifinal; 
Gary Trent said he welcomed his father 
back in his life. 

“No m a tter what he did,” Trent said, 
“until he went away, he was always there.” 


'• i r-‘~* 


Some NHL Owners Anxious 
To Reach a Settlement Soon 


By Joe Lapointe 

New York Tima Service 

BOSTON — So what will 
happen to the National Hockey 
League’s proposed luxury tax, 
that penally for high payrolls 
meant to slow salaiy escalation, 
which is the biggest reason why 
the owners have locked out the 
yers? 

fith negotiations scheduled 
to resume Friday after a two- 


P X 


day holiday recess, both sides 
acknowledge 


jwledgc that the tax was 
not discussed during four in- 
tense meetings in the post six 
days. 

Away from the bargaining ta- 
ble, management insisted the 
tax concept was still alive. 
Away from the table, the play- 
ers' union insisted that the reap- 
pearance of a luxury tax would 
break any agreement 

“It has not been discussed 
and, if the league does discuss 
it we will walk away from the 
table,” said a person with 
knowledge of the union posi- 
tion. “If the league is holding 
back on the tax proposal in or- 
der to present it later, it’s a 
grave error.” 

Meanwhile, as the sides bar- 
gained over an entry-level sala- 
ry structure, a frec-agent for- 
mula and arbitration rights, it 
was becoming apparent from 
conversations with team owners 
that there is anxiety among 
some of them that a settlement 
is needed soon and that some 
owners aren’t as committed as 
the NHL commissioner, Gary 
Bettman, ro the luxury tax. 

The most recent concept pre- 
sented by the commissioner 
would have raxed some por- 
tions of some payrolls at a rate 
of 122 percent. Joe Cohen, a 
part-owner of the Los Angeles 
Kings, said, “The tax should be 
the last thing we look at” 

Cohen said there were other 
ways to create a “drag” on sala- 
ry escalation, and he said he 


was glad the two sides were now* 
discussing them. He said he was 
an old friend of Bettman's, go- 
ing back to their days in the 
National Basketball Associa- 
tion, and that he had talked to 
him candidly in recent weeks. 

“If he can accomplish more 
that way, then a tax can become 
less important,” said Cohen, re- 
ferring to other ways to get the 
desired drag on salaries. “It’s 
among the things I told him.” 

Bill Wirtz, owner of the Chi- 
cago Blackhawks, said that “a 
tax of some sort” must be part 
of the settlement, bur added 
that he would keep an open 
mind about other ways to slow 
wage escalation. 

“There are legal and neces- 
sary restraints that can be ham- 
mered out that have the same 
effect,” Wirtz said. 

He noted that both sides 
must now realize the danger 
facing the season, which was 
supposed to open on Oct. 1. and 


what the lockout means to those 
not directly involved. 

Wirtz said he was worried 
that the shutdown was costing 
the owners “market share,” be- 
cause hockey fans are 1 
other sports, such as 
football. 


: turning to 
as college 


“I’ve seen some fantastic col- 
lege games that I didn’t used to 
have time for,” Wirtz said. 
“You don’t want to give up 
your share of the market We’re 
refunding cash for games. Des- 
perately. the owners don’t want 

... 11 ~ff «L. rt 


to call off the season.’ 


Harley Hotchkiss, a part- 
owner of the Calgary Flames, 
said that “a Jot of people are 
being sideswiped” by the shut- 
down, and that "we are causing 
damage to ourselves and to 
each other.” 


“We are perilously close to 
losing it all, he added, refer- 
ring to the rest of the season. 
“It’s never been our position to 
harm anybody, including our- 
selves.” 



Rockets’ Run Ended 
By Trail Blazers at 9-0 


\‘mx Boca 'Agmce Fnacr-heec 


ScottiePippen. driving between Lamond Murray (left) and Loy Vaught, got 17 points and 
10 assists as the visiting Bulls rallied, 105-93, to keep die Clippers winless at 0-10. 


The Associated Press 

As a believer in the law of 
averages, Portland’s coach, PJ. 
Carlesimo, didn’t mind that his 
Trail Blazeis were next in line 
for the undefeated Houston 
Rockets. 

"When people are going as 
good as they are, you know it's 
got to end sometime,” Carie- 
rimo said. “You just hope you 
can hang around and be there.” 

The Trail Blazers ended the 
Rockets run at 9-0 Tuesday 
night, and halted their 23-game 
November winning streak. 
Gyde Drexler, who missed the 
previous two games with a right 
ankle injury, sooted 30 points as 
visiting Portland won, 102-94. 

Cliff Robinson got 29 points 
for the Blazers, who were 04 
against the Rockets last season. 

Houston got 27 points from 
Hakeem OUyuwon and 20 from 
Vernon MaxwelL The loss was 
the first for the Rockets in the 
month of November since a 
108-99 setback to the Utah Jazz 
on Nov. 28. 1992. 

Last season, the Rockets 
were 14-0 in November and 


woo their first game in Decern- :■ 
ber before experiencing defeat- - 
This time, the Trail Blazers 
outscored the Rockets by 15-9 
in the final 5:21 as Houston's 
shooting went cold. 

Hornets 102, Warriors 
Hersey Hawkins scored sevep . 


NBA HIGHLIGHTS 


of his 18 points in a decisive 
fourth-quarter stretch as Char- 
lotte held off Golden State. 

The Warriors were trying to 
set a team record for consecu- 
tive road victories, five, at the 
start of the season. 

Charlotte tried to help with 
four tftrhniral fouls — two in 
the fourth quarter for illegal de- 
fense and a third in that period , 
on the bench. But Golden State 
committed 20 turnovers, two 
coming in the last two minutes. ' 

Alonzo Mounting led Char- 
lotte with 21 points and 12 re- 
bounds. Larry Johnson had 19 
points and Muggsy Bogues 13 
points with 1 1 assists. 

LatreU Sprewell finished with 
30 points to lead Golden- State. 


SCOREBOARD 




NBA Standings 


Socromento 

4 

3 

.571 

7 

30. Rebounds— Porttand 53 (CRoblnson 13). 

Seottl* 

5 

4 

-SJ6 

77a 

Houston 41 (Thorpe 101. Assists— Portland 25 

LA. Lakers 

4 

5 

>444 

3 

(J. Robinson 9). Houston 22 (Maxwell 6). 

LA. Clippers 

0 10 

MO 

7Vj 

New Jersey 22 32 27 16- 97 


eastern conference 
A ltoriflc Division 


For hwastmsnt Inform ati on 


Read THE MONEY REPORT 
way Saturday in the IHT 



W 

L 

PCt 

GB 

Orlando 

a 

2 

.750 

— 

New York 

a 

3 

M7 

»» 

Washington 

4 

4 

JM 

2 

Boston 

4 

5 

M4 

2*.- 

New Jersey 

4 

7 

J44 

3V, 

Philadelphia 

3 

7 

J00 

4 

Miami 

1 

7 

.125 

5 


Central Dhrisfen 



Indiana 

5 

3 

SOS 

— 

MilWOiAM 

5 

3 

ATS 

— 

Chicago 

a 

4 

M0 

— 

Cleveland 

5 

4 

J56 


Detroit 

5 

4 

-554 

Vi 

Charlotte 

4 

5 

M* 

l'V 

Atlanta 

3 

7 

JQ0 

3 

WESTERN CONFERENCE 



Midwest Dlvtolea 




W 

L 

Pet 

6B 

Houston 

9 

1 

.980 

— 

Denver 

5 

3 

MS 

3 

Dalles 

4 

3 

-571 

3V> 

Utah 

5 

5 

500 

4 

San Antonio 

4 

4 

MO 

4 

Minnesota 

1 

9 

.100 

8 


Pacific Division 



Golaer State 

7 

2 

.778 

— 

Phoenix 

4 

3 . 

-667 

I 

Portland 

5 

3 

-625 

IW 


TUESDAY’S GAMES 

FBJJctfeJpnkJ 33 33 79- Vr- » 

Atlanta 21 * R ZS-tn 

P; Burton 6-16 B- J 1 73. Brodlov 6*0 4-416; A: 
Auamoii 7-15 9-11 23, Blaylock 6-172-2 IS. Re- 
bound*— PWkxtoi onto 37 (Bredtav 10). Atlan- 
ta S3 (Long 81. Assists— PtiitodeMila 17 (Bar- 
res W), Atlanta 21 (Blaylock II). 
Milwaukee 21 25 » J7-I14 

Boston 26 23 20 25- 94 

M; Baker 9-M 3-4 20. Dav f-U j-5 23; B: 
Radio 6-143-6 15, Fox 4-10 M 16. Rebound*- 
Milwaukee 48 (Baker 10), Boston 37 < Radio 7). 
Assists— Milwaukee 21 (Murdock 8). Boston 
17 (Wesley 4). 

MtaBHota 13 H If 26- 7f 

Cleveland 25 If 31 25-112 

M; Marshal; 4-15 24 U Laattner 44 6-7 14; 
C: Mills 6*12 2-2 IS, MUIs 6-12 2-2 15. Re- 
bounds— Minnesota 42 (Marshall B), Cleve- 
land SO (Omima «). Assist*— Minnesota >s 
(Elsfay 6). Cleveland 27 (Price, Brandon 4). 
Golden State 21 26 26 36- f» 

Charlotte 26 38 11 28— IK 

G: Hardaway 7-176-721. Sprewell 10-228-18 
30: C: Johnson 9-18 1-2 If. Mountlno 4-130* 21. 
BeOoumts— Golden state SB (Gallliw 9), Char- 
lotte St l Moure tae 12), Assists— Golden state 
13 (Hardaway 8), Charlotte 27 IBooues 11). 
Portland 22 25 25 38-U2 

Houston 26 » 23 22- M 

P: CReMnson 12-24 2-2 21. Drexler 1MB 66 
30: H: Ololuwon 11-20 5-7 27. Maxwell 6-11 2-2 


Seattle 23 36 23 38-ia* 

N: Cotemon 5-lf 86 If. Morrts6-l2 1-3 16: 5: 
Kemp 6-7 10-11 22. Puvton 9-17 *9 26. Re^ 
bounds— New Jersey 50 (Cotcmon 111. Seatt la 
61 (Kemp 17). Assists— New Jersey 18 (Ander- 
son 9), Seattle 24 (Payton *). 

Ol leave JO W 20 27—105 

LA. CHpperS 23 32 37 11- 93 

C: Plppcn 6-16 M 17. Horaer Ml 6-721; L: 
Vauflhf 7-13 1-2 IS, Murray M 2-4 16. Be- 
bounds— CMcoBB 47 (Plppon SI. Las Angeles 
96 (Vauatil 11). Assists— Chicago 31 (PlPOen 
101. Las Aneeles 21 ( Richards o n M). 


Major College Scores 


MAUI INVITATIONAL TOURNAMENT 
SeoHitmts 
Arizona 31. 79. Michigan 62 
Maryland «a UN* 78 


Bury 1, Blshoa Auckland 1 
(Bury adv a nces 6-2 on ncnalttas) 

Colchester 7. Yeodina I 
Fulham 5, Ashford Town 3 
(attar extra time! 

HIKhln 4, litre lord 7 
Rotherham 1. York 0 
Scarborough 2. Oiestorheld Q 
Scunthorpe X Bradford 2 
(after extra ttme) 

WOklna 1. Barnet 8 

DUTCH FIRST DIVISION 
FC Twente Enschede l Breda I 
Standings: Rodo JC Ketknxto 21 Points. 
Ajax Amsterdam 2B Twertte Enscneoe 20. 
Fevenaord Rotterdam 17, PSV Eincfwvon 17. 
Vitesse Arnhem 1* Mvv Ma a st ri cht U Wtt- 
lem 11 TlihuralZ Heerenveen II Sparta Roi- 
leraom 11, Uheeht ll.N EC Mflmeaen 10. MAC 
Breda RVolendam 10. Groningen 8. GA E«- 
Otes Deventer 7, Dordrecht "90 A RKC Woat- 
wllk 5. 

INTERNATIONAL FRIENDLY 
United States 3. Jamaica 0 


CM 


Indtono 92, Chamlnade 79 
Tutone 74 Texas A4M 74 


a;-.--’.- \ 


v.- ‘-‘.v* - - 

air.M 1 4-t'rr.- ' 


• - r-. 


FA CUP 
First Round 

Mansfield X Morthwtch 1 

Pint ffaued ib Niu 
Brentford 1, Cambridge united 2 


baseball 
A m eri ca n Leasee 

CALIFORNIA— sett Joe Grahe. Pttdw, and 
Steve Hasoy. outtMder. 10 Vancouver, PCL. 

CHICAGO— Sought contracts ol Matt 
Karctmer and isfctro Marauez. pitchers, from 
Nashville. AA: Mike Bertottt. pitcher. Chris 
Tremle, catcher, and Chris Snopek. Infiefdar, 
from Birmingham, SL; ml Jimmy Hurd, 
outfielder, from Prince William. CL. 


CLEVELAND— Signed Torrv LOvullG. fn- 
flefder. Named Mike Brawn minor -league 
pitching coach. 

KANSASCITY— Named Greg Luzlnskl hil- 
ling coach. 

OAKLAND — Bought contracts ot 5 «JCY Hol- 
lins and Ramon Fermm. pllcnen. and Tony 
Batista and Jason GtambL in Hewers, tram 
Tocoma. PCL. and Don WYngert end Stove 
Wol ciechowskL Pitchers tram Hxxitrvllle.SL. 

SEATTLE— Named Dove Bren doge man- 
ager and Gary Wbcefocfc pitching coach ot 
Peoria Arizona League. 

TEXAS— Named David Dzfedllc vie* presi- 
dent of morse) Inc. 

National League 

ATLANTA— Bought contracts ol Ovh 
Brack, Jason Schmktt. Darrell May. Pilchers, 
and Mike Womer.outfleider, from Greenville. 
Southern League. and Brad Clontz. Chris Seeh 
boefb Esteban Yon, Terrell Wade. Pilchers, 
from Richmond. 1L. 

CHICAGO— Oolmed Bryan Hfekerson. 
pitcher, oft waivers from San Francisco. 
Named Glenn Adams hitting coach for Iowa 
A Acrid Chris Saeler hitting coach for Orlan- 
do, Sl_ Anno u nced that the contract of Ken 
Botok. manager ol Dovfono, Florida Slate 
League, will not be renewed. 

FLORIDA— Sent Ramon Martinez, Infleld- 
er. to Charlotte. It- 

HOUSTO N Named Tot Smith president. 
Agreed h» terms with Jett Bagwell, first base- 
man. on *-reor contract. 

PHILADELPHIA— Ptoced Tom Edens, 
ptteher.on walvera togtvehlmhiitmcon^tfanrt 
release. Claimed Anthony Monahan. Inftekler. 


oft waivers from Seattle. Purchased the con- 
tracts of Paul Fletcher end Bab Gaddy, pitch- 
ers. from Scranton- wakes- Barre, f L and Tom- 
my Eason, cathcer, and Rvtm Krxb and Larry 
Mitchell, Pitcher* from RCodfno. EL. 


PITTSBURGH— Bought controc f e of Jason 
QrbtbPisMi mid Jason Patterson, pitdwra. 
and wucan FrankRn, outfielder, from Buffalo, 
AA; Gary Wltaoih Esteban Loatza, Dennis Kon- 
uszewskL John Ericks. Pttcners. and Mark 
Johnson, first basemen, from Carolina, SL; 
and Ramon Morel, pitcher, tram Augusta. SAL. 


SAN FRANCISCO— Bought contracts of 
Marie Dewey, Chris Hock and Stevie Mtaz. 
Pilchers, tram Phoenix. PCL- Andy Herman, 
Lou Pate and Sieve Whitaker, Pitchers, and 
Eric Otrtstopherson, catcher, from Shreve- 
port, Texas League; and Jamie Brawlngton, 
pitcher, tram Son Jose. California League. 
Placed Rich M un t W eonc, Bryan Hlckerson, 
end Chris Hancock, pitchers, an waivers to 
give them their uncandlttonal retooses. 


DALLAS— Igned Mike Panel and Tammy 
HodMtb quarterbacks, and Frank CwntetV 
offensive lineman. Pul Erik Williams, offen- 
sive tackle, on Inl u red reserve. Reicosw Tod- 
drfcfc Me intosh. defensive Itoeman, and Ccfe- 
man Bell, tight end. 

GREEN BAY— Waived KelHl Crawford, ■ 
wide receiver. Activated Ray Wilson, safety, 
from the practice squad. 

NEW ORLEANS— Signed Mirk Gum, de- 
fensive end Waived Lance Ts>d*lmon,n«e 
tackle, from the. practice sound. 

PHILADELPHIA— Waived Mlk* Finn, of- 
fensive lineman. 

PITTSBURGH— Signed TJm Simpson amt 
l vary Dillard, offensive linemen. PlacMTodd 
Kalla, guard, and Gerald WIIHanM. defensive 
end. cm inlured reserve. 


COLLEGE 


BASKETBALL 

National Basketball Anoctattoa 


MILWAUKEE— Activated eric Mwdocfc. 
guard from Inlured IM. Waived Danny 
Young, guard. 

ORLANDO— Stoned Radnev Dent, forward 


FOOTBALL 

Nattonel FeatbaB League 


ATLANTA— Wiolved Viimle dark, comer- 
bock. 


AKRON— Annowcea tool Gerry Faust, 
tootboB coach, will be reassigned 10 a hind- . 
raising position. 

BRQCKPORTSTATE — Announced the res- 
ignation of Ed Matelkavic. toottxUt coach. 

KANSAS— Fired Bab Fella, defensive coor- 
dinator, and Mark Dan ton m. secondary 
coach. 

RICHMOND— Announced that coni rod at 
Jim Marshall, football coach, will noi be re- 
newed. 

STANFORD— Announced the real gnat lor 
at Monte Clark, ottenstvo line coach. 

WESTERN KENTUCKY— Jim Richards, 
athletic director, resigned. Named Lewis 
Mills Interim athletic director. 


DENNIS THE MENACE 


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4 



























SPORTS 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 24, 1994 


Page 19 



Milan and United Face Cup Elimina tion 






A|eoa Fnmcr-Picue 

Dmitri KWestov chased Dynamo Kiev’s Dmitri Mifchailenko as Spartak Moscow won. 


Compiled by Our Staff From Dispatches 

Defending champion AC Mi- 
lan and Manchester United 
were left teetering on the brink 

Of European Cup e limin ation 

Wednesday night, while anoth- 
er big name, Barcelona, was 
also upset 

IFK Gothenburg beat Unit- 
ed, 3-1, to secure a quarterfinal 
berth as winner of the Champi- 
ons’ League Group A. IFK now 
has eight points, three more 
than 1992 European Cup win- 
ner Barcelona after its 2-1 de- 
feat to Galatasaray in Turkey. 

United, one point behind 
Barcelona, needs to beat the 
Turks in those teams' match, at 
Old Trafford on Dec. 7, and 
hope that IFK takes both 
points from their visit to Nou 
Camp. 

If Barcelona and United fin- 
ish equal on points, the Spanish 
champions will gain the quar- 
terfinals by virtue of their better 
record in direct competition, 
having a 2-2 draw in England 
and a 4-0 triumph at home. 

The fortunes of AC Milan, 
which won the title for the fifth 
time with a 4-0 victory over 
Barcelona in Athens last May, 
have dipped lately along with 
those of its flamboyant owner, 
the Italian prime minister, Sil- 
vio Berlusconi. 

Milan, at “home” in Trieste, 
lost by 2-0 to Ajax Amsterdam 
and is third in Group D, five 
points adrift of the Dutch ride 
and two behind Austria Salz- 
burg. 


Salzburg, who beat AEK 
Athens by 3-1, will Milan in 
Vienna in their last match. The 
Italian team, after beating Salz- 
burg in San Siro, were docked 
two points and ordered to play 
at least 300 kilometers from Mi- 
lan, because tbe Austrian 

EUROPEAN SOCCER 

team’s goalkeeper was hit by a 
bottle thrown from the crowd. 
But if Milan wins in Vienna, it 
will advance by virtue of its 
head-to-head advantage over 
Salzburg,. 

GROUP A 

Magnus Erimgmark scored 
one minute after Manchester 
United’s equalizer in the second 
half to put the Swedish champi- 
ons in the quarterfinals. 

Erlingmark, unmarked inside 
the penalty area, struck a half- 
volley past United backup 
’keeper Gary Walsh after a per- 
fect cross from Jesper Blomq- 
vist in the 65th minute to make 
it 2-1. 

Mark Hughes had made it 1- 
1 for United. Fellow striker Eric 
Cantona, making his comeback 
in the competition after a four- 
game ban, set up the goal with a 
header. 

IFK Goteborg took the lead 
only 10 minutes into tbe match 
when Blomq vist lifted the ball 
over Walsh, who replaced the 
injured Dane Peter SchmedcheL 

Goteborg’s captain Pontus 
Kamark, who also played in the 
World Cup, made it 3-1 on a 


penalty shot in the 71st minute 
after Erlingmark was brought 
down by defender Steve Bruce. 

In Istanbul, Arif Erdem 
scored with three minutes to 
play as the Turkish champion 
Galatasaray stunned Barcelo- 
na, 2-1. 

Barcelona got an early goal 
from Brazilian forward Ro- 
mano, who capitalized on a 
poor bade pass from Sedat Bal- 
kans to score in the 15th min- 
ute. 

Galatasaray pressed on for 
tbe rest of the first half, but 
Spanish goalkeeper Carlos Bus- 
quets halted a shot by Suat 
Kaya in the 29th and a header 
by Norman Mapeza in tbe 41st. 

The Turks equalized in the 
72d cm a penalty kick by Hakan 
Sukur, earned when Erdem was 
brought down by Albert Ferrer. 

Galatasaray goalkeeper Gin- 
taras Steauche then preserved 
the score by stopping a shot by 
Guillermo Amor one min ute 
later, setting np Erdem’s win- 
ner. 

GROUPS 

A piece of brilliance from 
substitute George Weafa gave 
visiting Paris SL Germain a 1-0 
victory ova Bayern Munich 
and its fifth triumph in as many 
matches. 

Weah picked up the ball 20 
meters from goal, dribbled his 
way past three defenders and 
shot into the top left-hand cor- 
ner in the 81st minute. 

PSG has already qualified for 
the qnarterfinals. Bayern, 


which is tied with Spartak Mos- 
cow in points but trailing on 
goal difference, now needs to 
get at least a point at Dynamo 
Kiev in the last match while 
hoping the French champions 
beat Spartak in Paris. 

Spartak Moscow improved 
its chances when Muksim Muk- 
hamadiyev’s goal eliminated 
visiting Dynamo Kiev, 1-0. 

The young Tqjik-bom striker 
netted the ball in the S2d min- 
ute, breaking dear on the right 
of the area before his hard, IO- 
meter shot from a narrow angle 
beat Dynamo goalkeeper Olex- 
ander Shovkovsky. 

GROUP C 

Benfica missed a few chances 
but headed two goals out of the 
air to defeat visiting Hajduk 
Split of Croatia, 2-1, and clinch 
a place in the last eight 

The Lisbon ride opened the 
scoring in the first half with a 
header from Brazilian-born 
striker Isaias Soares in the 33d 
minute. But in the 71st minute, 
with Benfica’s defense founder- 
ing, the Croats hit back with an 
equalizer from midfielder Stje- 
pan Andrijasavic. 

After five minutes of dismay, 
Portuguese international striker 
Jofio Pinto lifted the home team 
by heading a cross from Pandra 
past Split ’keeper Tond Gabric 
to give Benfica and an unassail- 
able lead in the group. 

In Bucharest, Steaua wasted 
its last chance to continue as it 
got a 1-1 tie against AnderlechL 


GROUP D 

Ajax Amsterdam stunned 
AC Milan with an early goal by 
Finnish striker Jari Lhmancn, 
than an own goal by Milan's 
captain-sweeper Franco Baresi 
gave the Dutch team its third 
victory out of five qualifying 


Milan’s defense failed to 
complete an offside trap, giving 
Litmanen dear way toward Se- 
bastiano Rossi’s net. 

In Athens, the Austrian strik- 
er Heimo Pheinfenberger head- 
ed home goals in the sixth and 
eighth minutes to lead Casino 
Salzburg to its 3-1 win over 
AEK Athens. (Reuters, AP) 

Wednesday’s Results 

Group A 

IFK GotMofttm J. Manchester United 1 
Scorers: IFK Gothenburg — Jesper Blom- 
qvU nem minute), Magnus Eninamaric 
(AStti). Pontus Kamark (71st. penalty J; Man- 
chester United — Mark Hughes 1 64th). 
Gatataarar 2. Barcelona l 
Scorers: Gatatasarav— Mafcon Sukur i pen- 
alty. 7MI, Aril Erdem (Htn); Barcelona — 
Remark: (into. 

Group B 

Bayern Monk* S, Parts SI. Germota i 
Scorer: George west? FBlst) 

Spartak Moscow 1, Dynamo Kiev 0 
Scorer: Muksim MukhamcKflyev (5Bd). 
Grow C 

BeoBca 2. HaMUk Spilt 1 
Scorers: Benfica — Isaias Soares (3M), 
JoaoPIntolMih); Holduk— Stlepan Andrtlo- 
sovlc I72d>. 

Straw Bucharest t, AndertacM 1 
Scorers: steaua Bucharest— Anton Dates 
C52d); AnderleUit — Johnny daman (43d). 
Grow D 

AC Milan 0, A lax Amsterdam 1 
Scorers : Jorf Lfhnanen (2d), Franco Barest 
(SSlti own goal) 

AEK Athens 1. Casino SaUbun 2 
Scorers: AEK — MlctnJis Vtoeftos (27th); 
Salzburg — Heimo PtoU enbergr (6th. Bth). 
Ralph Hoeenhutfl (7AHi). 


4 Ski Races 
For Men Are 
Post! 


iinirKi 


The Associated Press 

GENEVA — The Interna- 
tional Ska Federation called off 
Wednesday die first four men’s 
World Cup races, in a move 
likely to lead to scheduling 
problems later in tbe season. 

Hie federation, FIS, post- 
;'pned tbe pant slalom and sla- 
lom in Italy’s Sestriere because 
of a lack of snow. Inspectors 
said temperatures were too mild 
to use snow cannons. 

FIS also scrapped the down- 
hill and super-G in the Fremdi 
resort of Vald’Isfcre an Dec. 4-5 
for the same reason. 

A FIS official, Sorqa Rd- 
chen, said that it was unclear 
how the races would be re- 
scheduled. 

“In central Europe its bad 
everywhere and it’s very diffi- 
cult to find a replacement ven- 
ue,” Reachen said. Much of Eu- 
rope has had an exceptionally 
mud November. 

Italian organizers said they 
hoped this weekend’s races 
could take place the following 
weekend, but added they first 
needed snow and cold weather. 

Sunday’s slalom had been ear 
geriy awaited as it was the first 
ever evening event — an experi- 
ment designed to add glamor to 
the rid circuit. Organizers had 
made elaborate preparations 

for floodlights 

Reicfaen said snow condi- 
tions were good for the wom- 
en’s races in the United Stales. 
A nlftlom and giant slalom are 
slated for this weekend in Park 
City, Utah, followed by a 
downhill and super-G in Vail, 
Colorado. 


FIA: Schumacher 
Grand Prix Champ 

Qmpded by Om Staff From Dispatches 

PARIS — International Automobile 
Federation officials said Wednesday that 
there was not enough evidence to contin- 
ue an investigation into the crash that 
gave Michael Schumacher his first For- 
mula One tide. 

“After considering all relevant infor- 
mation, the FIA has concluded there is 
insufficient evidence to justify summon- 
ing either Michael Schumacher or Da- 
mon IBB before the World Motor Sport 
Council,” FIA raid in a statement 

“Hie matter is therefore dosed and no 
further action will be taken,” it added. 

The German’s Bcnetton-Ford swerved 
in front of his British rival's Wifliams- 
Rcaault in the season-ending Australian 
Grand Prix on Nov. 13, damaging both 
cars and giving Schumacher the champi- 
onship by a point 

“We areah just pleased that the whole 
matter is dosed,” a spokesman for the 
WflEams team said. “We can now look 
forward to next year." 

To avoid the possibility of a future 
championship bong decided by a colli- 
sion, the federation said it will study 
empowering stewards to allow drivers to 
continue in spare cars or hold a runoff 
raunediately after the race. (Ap 



Auriol Wins France’s First Rally Tide 
As Spain’s Sainz Claims British Foul 


Gray Penny Ajmer Franc*. Pros* 

Didier Auriol: Aided by logs? 


The Associated Press 

CHESTER, England — Didier Au- 
riol became the first Fren chman to 
win the world rally title Wednesday, 
but his triumph was tainted by allega- 
tions of sabotage. 

Auriol clinched the championship 
when Spanish rival Carlos Sainz 
crashed on the final day of the sea- 
son’s last race, the RAC Rally. 

Sainz's withdrawal came after spec- 
tators along the route allegedly placed 
logs in his path in an effort to ensure 
that the Spaniard's Subaru teammate, 
Colin McRae, would win the race. 

McRae, a 26-year-old Scotsman, 
became the first British winner of the 
RAC since Roger Clark in 1976. 

Sainz, upset % the log incident on 
the day's opening stage, crashed into a 
thicket of trees during the next stage, 
through a forest in Wales, and was 
forced to retire. 

That gave tbe title to Auriol, who 
was 11 points ahead of Sainz in the 
world rally standings going into the 
RAC. Aunol finished sixth in the race. 

The Subaru team claimed the logs 
had been deliberately put in Sainz’s 
path. British fans had been angered 
that tbe i«nn was prepared to tell 
McRae, who was leading the race, to 


step aside and let Sainz vuin if the 
paints were needed to clinch the title. 

“Some people thought they could 
help decide the championship them- 
selves," said a furious Sainz. 

“Carlos was very upset to see two 
large logs in the road in front of him," 
said the Subaru team's managing di- 
rector, Dave Richards. 'The logs 
weren’t there when Colin went 
through or after Carlos. They were 
clearly there for him. It rather rattled 
him and it was a sad end for a long 
hand year." 

“We didn’t see any logs so they 
must have been put down after we 
went through," McRae said. “It's a 
scandal. I hope the fools who did that 
to Carlos are satisfied. That no one 
was hurt was a miracle." 

Auriol’s chances of winning the title 
had appeared bleak after be turned 
over bis car Monday during the sec- 
ond day of the race. 

He rallied and had moved into 
ninth place at the close of Tuesday's 
stages. Had he improved to seventh — 
a likely possibility if his Toyota team 
had ordered teammate Juba Kank- 
kunen to slow down — then Sainz 
would have needed to win the race to 
clinch the title for the third time. 


Pro Golf Foes Meet, 
Remain Far Apart 


Chinese Swimmer Yang Banned for 2 Years 


The Associated Press 

LAUSANNE, Switzerland — World champi- 
on swimmer Yang Aihua of China has bom 
banned for two years for failing a random drug 
test, the international federation FINA said 
Wednesday. It confirmed that Yang had tested 
positive for excessive testosterone on SepL 30 
before the Asian Games in Hiroshima, Japan. 

The suspension will last through SepL 29, 
1996, keeping Yang out of the 1996 Summer 
Olympics at Atlanta. Sie won the wcanen’s 400- 
meter freestyle at the World Championships in 
Rome in September, bnt is the fifth Chinese 
swimmer to fail a drug test since last year. 


CROSSWORD 


r woSd Comaneci Returns Home, to Blessing 

Weightlifting Championships in Istanbul ONESTL Romania (AF) — Gymnastics star Nadia Comaneci 

Competing in the women’s 70-kilogram (154- reunited Wednesday with her 61-year-old father when she 
pound) class, she set the record in the clean and visited her hometown for the first time since fleeing Romania five 
jerk by lifting 128.5 kilograms on her second years a&Q 

! _ A ^ Her fiancee, Bart Conner, 36, formally asked for the 33-year- 

old Comaneci’s hand in marriage during an emotional half-hour 
reunion. “With all my heart," Gheorghe Comaneci, a pensioner. 


attempt. Her second gold came in the combined 
event, and Chinese women again swept the day’s 
competition, with Qu Tihua winning the snatch. 

Tbe Chinese women have now wot 15 of a 
possible 18 golds in the first six days of the 10- 
day championships. They now hold every world 
record in every event that has been contested at 
the competition. 


ACROSS 

1 0ne ot the 
March ststere 

5 Musical 
composition 


lOMtahsner's 
■Hawaii.’ e.g. 

14 Heckdphone 

15 Win by 

it Verse pattern 


QUALITY THAT LASTS 



CABAN dACHE 


IT TURKEY? 

an" Pay" 

(Faulkner's first 
novel) 

21 Carpenter’s 

supply 

Shed 

as Break-even 
amount 

24 Catalina, e.g. 

27 Ornamental 

garden 

31 Mediterranean 
port 

32 View from 1-90 

33 Sharers' word 
** PLYMOUTH 

ROCK? 

as Supplement, 
with m orf' 

40 Med. course 

41 Auricular 

42 Assad's capital 

44 Smooth-talking 

45 Like many 
cakes 

47 Weed killer 
4* It’s a wrap! 
so Tops In poker? 

54 MAYFLOWER? 

55 Pour 

57 Comtorts 
M When twee 
repeated, a 
1970 war movie 

5B Just lor guys 
as Like modem 
bombs 
si Clairvoyant 


DOWN 

1 Haircuts 

2 Spanish over 

3 Cat's-paw 

4 impetuous 


5 Least prepared 
s Windy City 
touchdown site 

7 Some votes 
a'What's'the 

?■ 

a Handel’s 
"Messiah." e.g. 

10 Friendly 
cannonade 

11 Get in touch 
with? 

12 Needlefish 

13 "The Woman in 
the Dunes' 
author 

15 Fashionable 

name 

is Going along 
(with) 

23 Grouse 

24 Snagged 
doges 

25 Alexander of 
"The Cosby 
Show* 

24 "The Crucible’ 
setting 

27 Baby brothers. 

. typically 

28 Adas line 

» Arrest, in slang 
30 Upright 

35 Classic Sterling 
, North book 

36 intimates 

37 Whittier heroine 
3aOut-of-towners 

43 TV broadcast 

44 Timbertand 

45 Regan’s tether 
47 Lumberjack 
45 Tiff 

49"Sevuol 
baiiare,' eg 

so Soprano 

PonseUe 


s 


s 

s 

M 


■ 

■ 

m 


■ 

■ 

H 


■ 

■ 


H 

■ 

HI 

hi 

5 

H 

■ 

■ 

■ 

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■ 

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■ 





HI 

m 

Hi 

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■ 

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■ 

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m 

■ 

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replied in Roma n ian. 

Comaneci, who at 14 became the first gymnast to score a perfect 
10, at the 1976 Montreal Olympics, and Conner, a gymnastics 
gold medalist himself, arrived in Romania on Monday. 

For the Record 

Jeff Bagwell of the Houston Astros, who won the National 
League MVP award, signed a 4-year, $27.5 million contract with 
three years of options. (AP) 

Mamtda Di Ceata of Italy, the Olympic cross-country stung 
dual gold medalist, underwent emergency surgery in which a 
perforated part of her lower intestine was removed. (Reuters) 
Cody Carbon, the Houston Oilers’ quarterback, is to have 
season-ending surgery on his injured left knee. (AP) 

Quotable 

• Charles Barkley on NBA exhibition games: “Preseason is just 
to break a sweat and cheat the fans out of some of their hard- 
earned money .” 


The Associated Pros 

PONTE VEDRA, Florida — 
The scene was idyllic. On a sun- 
ny November day, beneath the 
pine trees of the Tournament 
Players Club at Sawgrass, the 
two sides sat down not far from 
the first hole to discuss the fu- 
ture of golf. 

They described their talks as 
cordial. They spoke of coopera- 
tion, conciliation and the need 
to avoid the strife that has 
plunged baseball and hockey 
into chaos. 

But when a 2 ’ 2 -hour, closed- 
door meeting between represen- 
tatives of the venerable PGA 
Tour and the upstart World 
Golf Tour was over Tuesday, 
there appeared to be little room 
to maneuver toward a peaceful 
coexistence next year. 

John Montgomery Jr„ execu- 
tive director of the World Tour, 
came armed with a compromise 
plan: six tournaments instead 
of the origin ally planned eight, 
and the possibility of switching 
some events from the PGA 
> Tour to the World Tour to 
‘ avoid scheduling conflicts. 

“We gave the Tour a number 
of either-or scenarios,” said 
Montgomery. “Our first event 
won’t be played until the May- 
June time frame, which gives 
the tournaments, the television 
sponsors and the TV networks a 
chance to look at both sides of 
the issue and decide how feasi- 
ble this is for next year." 

The PGA’s response: It will 
be “very, very difficult" to fit 
any new tournaments into the 
’95 schedule because of com- 
mitments to television, spon- 
sors and charities. 

“We’re trying to be construc- 
tive with them,” said Ed Moor- 
house, the PGA’s top attorney 
and chairman of a task force 
that met with World Golf Tour 
officials. “But the bottom line is 
we have contractual obligations 
we certainly have to honor.” 

The meeting at PGA head- 
quartos south was tbe second 
between the two sides since the 
World Golf Tour was an- 
nounced last week at Greg Nor- 
man’s Shark Shootout In Cali- 
fornia. The Australian star has 
become tbe most visible propo- 


nent of the new $24 million 
tour. 

Montgomery has yet to re- 
ceive commitments from any 
American players, who are 
waiting to see if they face sanc- 
tions for competing on the new 
tour. With purses almost three 
times larger than the average 
PGA event, Tom Watson called 
the new venture “a good idea if 
it’s done properly and with the 
other tours in mind." 

Montgomery said the new 
tour is willing to limit its ’95 
schedule to two tournaments in 
United States and one each in 
Scotland, Spain. Canada and 
Japan. He also indicated to 
PGA officials that he wants to 
stage tournaments within a 
week of the U.S. Open, British 
Open and PGA Championship. 

One way to resolve the sched- 
uling conflicts, Montgomery 
said, is to transfer some PGA 
tournaments to the World 
Tour, especially those which are 
still trying to line up sponsors. 

The six-man PGA task force 
will present its finding to Com- 
missioner Tim Fmchern this 
weekend. He will then make a 
recommendation to the PGA’s 
tournament policy board dur- 
ing a regularly scheduled meet- 
ing in Tampa next week. 

The board’s course of action 
could set the stage for a finan- 
cial bloodletting between the 
well-financed World Tour and 
the established PGA. 

Tbe PGA, which can fine or 
suspend golfers who play in 
conflicting events, is already 
under investigation by the Fed- 
eral Trade Commission for re- 
straint of trade allegations in- 
volving its restrictions on 
foreign players, who have com- 
plained about the PGA’s man- 
date that players enter at least 
15 sanctioned tournaments a 
year. 

Many foreigners elect to play 
on tours in their native coun- 
tries, keeping them at club's 
length from the PGA regulars 
except for a handful of events. 

“We feel comfortable that 
our rules are defensible under 
antitrust laws,” said Moor- 
house, who didn't rule out a 
lawsuit if no agreement can be 
reached. 


Puzzfeby Fnn and Lou Sabin 

©New York Tones/ EtSted by JTiS Shartz. 


Solution to Plfflde of Nov. 23 


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possessor? 
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Page 20 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 24, 1994 


ART BUCHWALD 


Merci Dormant: Getting It 



(Years ago a little French ■ girl named 
Virginia stud to me, " Would you explain 
Thanksgiving Day so that all the French 
people can understand it ?” Every year since 
then she asks the same question. She just 
doesn't get it.) 

O NE of our most important holidays is 
Thanksgiving Day, known in France 
as le Jour de Merci Donnant. 

Le Jour de Merci Donnant was first start- 
ed by a group of Pilgrims (Pelerins) who 
fled from I’Angleterre before the McCarran 
Act to found a colony in the New World fie 
Nouveau Monde) where 
they could shoot Indians 
fles Feaux-Rouges) and 
eat turkey ( dinde ) to their 
hearts’ content. 

They landed at a place 
called Plymouth (now a 
famous voiture Amiri- 
caine) in a wooden sailing 
ship called the Mayflow- 
er, or Fleur de Mai, in 
1620, But while the Filer- 
ins were killing the dindes BuchwaId 
the Peaux- Rouges were killing the Pelerins 
and there were several hard winters ahead 
for both of them. The only way the Peaux- 
Rouges helped the Pelerins was when they 
taught them to grow com (ma£s). The rea- 
son they did this was that they liked com 
with their Pelerins. 

In 1623, after another harsh year, the 
Pelerins’ crops were so good that they 
decided to have a celebration and give 
thanks because more mats was raised by 
the Pelerins than Pelerins were killed by 
Peaux-Rouges. 

Every year on le Jour de Merci Donnant. 


Dubbed Version of AIDS Film 
Is Banned Under French Law 

The Associated Press 

PARIS — “And the Band Played On," a 
film about researchers who tracked the 
virus that causes AIDS, has run afoul of a 
French law that bans the use of dubbing 
done outside the European Union. 

The film, which opened in France on 
Wednesday, is being shown at only four 
Paris theaters, all only in the original Eng- 
lish version. It would have shown at 15 
theaters if the dubbed version also was 
used. The French version was done in 
Canada. 


parents tell their children an amusing story 
about the first celebration. 

It concerns a brave capitaine named 
Miles Stan dish (known in France as Kilo- 
metres Debout ish) and a shy young lieuten- 
ant named Jean Alden. Both of them were 
in love with a flower of Plymouth called 
Priscilla Mullens (no translation). The 
vieux capitaine said to the jeune lieutenant: 

“Go to the damsel Priscilla (Allez tris 
vite chez Priscilla), the loveliest maiden of 
Plymouth (la plus jolie demoiselle de Plym- 
outh). Say that a blunt old captain, a man 
not of words but of action ( un vieux Fanfan 
la Tulipe), offers his hand and his heart, the 
hand and heart of a soldier. Not in these 
words, you know, but this, in short, is my 
meaning. 

Tama maker of war (Je suis un fabri- 
cant de la guerre) and not a maker of 
phrases. You, bred as a scholar (Vous, qui 
ites pain comme un eiudiant), can say it in 
elegant language, such as you read in your 
books of the pleadings and wooings of 
lovers, such as you think best adapted to 
win the heart of the maiden." 

□ 

Although Jean was fit to be tied (conven- 
oble d etre emballi), friendship prevailed 
over love and he went to his duty. But 
instead of using elegant language, he blurt- 
ed out his mission. Priscilla was muted 
with amazement and sorrow (rendue 
muette par I'iiormement et la tristesse). 

At length she exclaimed, interrupting 
the o min ous silence: “If the great captain 
of Plymouth is so very eager to wed me, 
why does he not come himself and lake the 
trouble to woo me?" (Ou est-iL le vieux 
Kilometres ? Pourquoi ne vient-il pas aupres 
de moi pour tenter sa chance ?) 

Jean said that Kilometres Deboutish was 
very busy and didn’t have time for those 
things. He staggered on, telling her what a 
wonderful husband Kilomitres would 
make. Finally Priscilla arched her eye- 
brows and said in a tremulous voice: “Why 
don't you speak for yourself, Jean?" ( Cha - 
cun d son gouL) 

And so, on the fourth Thursday in No- 
vember, American f amili es sit down at a 
large table brimming with tasty dishes, and 
for the only time during the year eat better 
than the French do. 

No one can deny that le Jour de Merci 
Donnant is a grande file and no matter how 
well fed American families are, they never 
forget to give thanks to Kilomitres Debou- 
tish, who made this great day possible. 


The World of Gospel According to Jessy Dixon 

■“ . . 11 .. TU» ifinnc oip« in 


By Mike Zwerin 

International Herald Tribune 

P ARIS — The man whose bio claims 
the title “King of Gospel" is hand- 
some, fastidiously coiffed and designer 
dressed and at first sight you wonder if 
be is perhaps too worldly for the role. 
Gospel, he says, is the music of Jesus. 
But the medieval composer Gesualdo 
Liked the company of women and Mozart 
fancied wine and this did not make their 
church music any less Christian. In any 
case, it soon becomes clear that Jessy 
Dixon is organically cast. Hallelujah! 

Dixon was in Paris with the Chicago 
Community Choir earlier this month for 
two concerts at the American Cathedral, 
where this interview also took place. The 
public’s reception to the SRO perfor- 
mances had been ecstatic, and he seemed 
completely at home in a church. “Gospel 
is parallel to the church music of the 17ih 
century," he explained. “Its roots go 
back to the Bible, to when people were 
saying thee and thou.” 

Growing up in Chicago, he listened to 
classical music. His parents had nothing 
against gospel, they just did not under- 
stand it. He heard recordings by Mahalia 
Jackson and the Soul Stirrers while visit- 
ing friends, one of whom offered to teach 
him the basics. Music schools bad no 
courses at the time. You had to 
out the chords and repeat the melo- 
until they sank in. This was in the 
1960s but since Dixon says “1 never tell 
my age” we cannot be sure exactly when. 

In the early 1970s, Chicago bluesman 
Willie Dixon (no relation) heard him play 
the organ in a church and hired him to 
record. Jessy was “just out of school." he 
“didn’t know any thing, " he was “scared to 
death." He was surprised when Willie 
related to him as a professional musician. 
When he invited in to sing in a dub. 
Jessy refused, saying: “I can't sing the 
blues. I don't have tlx blues." 

“Both gospel and the blues come from 
work songs.” He has a booming voice 
and cracking elocution: “Work songs 
were early spirituals, a direct link to 
Africa. They were a way for slaves to 
co mmunica te with each other. The men 
were separated from their families to be 
more easily dominated. They were not 
allowed to read the Bible and they did 
not know Jesus yet” 

Now that gospel has become a recog- 
nized commercial style with its own Bill- 
board chart Dixon hears its influence 



Christian 


Dixon on stage with the Chicago Community Choir. 


everywhere — in Phoebe Snow. Mariah 
Carey and Bette Midler for example. 
Midler used to come “to digest my re- 
hearsals and learn.” Gospel is difficult to 
teach since the best singers never treat a 
melody the same way twice. Swing is a 
basic factor and you cannot notate 
swing. Faith cannot be diagnosed. Tran- 
scribing all of this to paper is nigh impos- 
sible. Dixon has developed a teaching 
curriculum now but be admits that what 
Louis Armstrong said about jazz also 
applies here: “Man, if you gotta ask 
you’ll never know." 

Dixon earned four encores when his 
choir performed in New York's Radio 
City Music Hall. It was 1971 Paul Simon, 
who had just separated fre-m his partner, 
was in the audience. A week later he called 
to ask Dixon to tour with him. Basically 
he replaced GarfunkeL Their relationship 
lasted eight years. Dixon sings on Simon's 
album “Still Crazy After All These 
Years." As though in answer to an unspo- 
ken question, he said: “They accused 
Bach of being too worldly and Ray 
Charles was considered profane when he 


crossed Negro spirituals with the blues. 
But Charles made gospel acceptable in 
concert hall!: and clubs around the world. 
He paved the way." 

In 1982. Dixon was ordained a minis- 
ter. His vision of church music expanded 
gospel’s style, repertoire and geography. 
He performed in prestigious American 
(Carnegie Hall), European (the Royal 
Albert Hall), African (the Kenyatia In- 
ternational Conference Center), Japa- 
nese and Indian venues. He appeared on 
“Saturday Night live" and “Oprah Win- 
frey” and many other talk shows and 
now hosts “Celebrate Jesssy Dixon" on 
the Christian Cable TV Network. He 
became increasingly conscious of the de- 
terioration of the music's spiritual roots 
and, with commercial success, of his ob- 
ligation to preserve them. 

He heard choirs around the world put- 
ting Christian lyrics to secular music. 
They were losing touch with ancestors 
like The Clara Ward singers and The 
Mighty Clouds of Joy. Teenagers were 
telling him that they were getting high on 
the music, and they meant chemically 



not spiritually. The foundations were in 
need of repair. 

Gospel goes back to the 1920s, when a 
black piano player named Thomas A. 
Dorsey who had accompanied Ma 
7 Karl a religious experience. He 
t that God wanted to have a rda- 

,n with every person individually 

and that our bodies were temples of God 
just as as any church bin! ding. Dor- 

sey said that if bis body was a temple, then 
he wanted to praise Him personally. He 
began to adapt blues and jazz rhythms to 
sacred verses by others and himself and he 
became so famous in the 1930s that some 
gospel songs were called “Dorseys.” 

“At the beginning,” Dixon explained, 
“he wrote these beautiful songs end he 
wanted to sing them in churches but they 
told him ‘Get out of here. That’s the 
blues.’ It was considered The Devil’s mu- 
sic,’ and Dorsey went through a lot of 
persecution. Elvis Presley and Tennessee 
Ernie Ford recorded his ‘Peace in the 
Valley.’ He encouraged young folks like 
me.” . . 

After their concerts in Paris, Dixon and 
the Chicago Community Choir moved on 
to Gothenburg to perform in the Park 
Lane nightclub. The last time they worked 
there the Swedes lined up around the 
block and Dixon sees nothing wrong with 
gfn gfng religious songs in a nightclub. On 
the contrary, it attracts a new audience. 
Recently he toured Norway seven times in 
one year. He laughed: “The customs 
agents treat me like a Norwegian.” 

He is intelligent, knowledgeable, com- 
municative and empathetic. You could 
not exactly call him shy. When I thanked 
him for the lucid and energetic interview, 
he shook my hand and explained: 
“There was a time when I was not com- 
fortable in the company of others. When 
you practice thercs nobody else in the 
room, I’ve always practiced a lot Tin 
also by myself when I write songs. I used 
to be very quiet in crowds. It was taken 
the wrong way. People thought I was 
trying to act like a star. To be grand. To 
look down on than. They thought I had 
what is called an ‘attitude.’ It wasn’t that 
way at all it was only their perception. 
But I got tired of trying to explain my- 
self. So I worked on it People’s discom- 
fort is distressful to me.” 

Jessy Dixon and the Chicago Commu- 
nity Choir will be performing in Sweden, 
Germany, the Netherlands and the United - 
States (Chicago) through Dec & 


WEATHER 


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North America 
The Eastern States will be 
dry and chilly Friday and 
Saturday, then turn wet on 
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ram Sunday. Cnicago wiR be 
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T HE filmmaker Roman Polanski won't 
be making a trip to the French-owned 
islands of Si. Pierre and Miquelon off 
Newfoundland's coast to promote his new 
movie. Publicists had pegged the islands as 
legally safe ground for him to hold inter- 
views with reporters from across North 
America about his new film “Death and 
the Maiden." The Paris-based director 
could be arrested if he went to the United 
States. He pleaded guilty in 1977 to having 
unlawful intercourse with a 1 3-year-old 
girl but fled the country before sentenc- 
ing. But a spokesman for the film’s U.S. 
distributors said concerns about the safety 
of aircraft carrying Him critics prompted 
the plan to be canceled. 

□ 

Two boys from Eton on a d ri nking spree 
sparked a full-scale security alen by decid- 
ing to visit Queen Elizabeth. The 1 7-year- 
olds triggered alarm bells and lights when 
they tried to scale the wall of Windsor 
Castle, and they were filmed blundering 
into the grounds. The private school said 
the pair would be disciplined but not ex- 
pelled. . ■ . Meanwhile. Prince Bernhard, 
the nephew of Queen Beatrix of the Neth- 
erlands, was attacked and his gold Rolex 



Camera Prai 


Roman Polanski: Trip canceled. 

watch was stolen as he was walking alone 
on 42d Street in New York. 


The Turner Prize, the British award for 
visual arts, was awarded to the sculptor 
Antony Gonntey, who uses molds of his 
own body in his work, and as usual, the 
award was greeted by protest Gormley woa 
the prize for a collection of five iron-dJ 
dummi es bent double against a wall. About 
300 young artists, who railed the work “elit- 
ist,” bedded guests arriving for the prize- 
giving at the Tate Gallery in London. The 
demonstration was organized by a group 
called FAT, which stands far Fashion. Ar- 
chitecture and Taste. Last year, a group of 
rock musicians ridiculed the prize by offer- 
ing a spoof award for bad art. 

□ 

Princess Elena de BorWn, 30, the eldest 
daughter of King Joan Carlos and Queen 
Sofia of Spain, wfll be formally engaged 
Saturday when Jaime de Marichalar Saenz 
de la Tejada, 31, asks for her hand at a 
palace ceremony. The two Will be married in 
the spring. Marichalar is the scion of an 
aristocratic family that has had close links 
to the Spanish monarchy. 

□ 

A baseball uniform worn by Madonna in 
the film “A League of Their Own” was 
sold for 121 million yen (S12J00) at an 
auction in Tokyo on Wednesday. 



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