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Herald 


INTERNATIONAL 




tribune. 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


Paris, Saturday-Sunday, October 15-16, 1994 


No. 34.720 


Abducted Israeli Soldier 
Killed in Raid to Free Him 


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An Israefi soldier being rndied to a hospital Friday night after he was wounded in the attack on die kidnappers’ hideout 

Perry Warns Iraq to Remove Armor 


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’ By John Lancaster 

HtaAinyron Pour Service 

KUWAIT CITY — Defense Secretary 

William J. Perry warned Friday that the 
m Musi. United States might take military action 
“■> * •h.i.'iv! a hr; against Iraq if it failed to remove aU of its 
-heavy armored units from the southern 
^fpart of the country near Kuwait 
• •• i « w i -a Arriving here' from Saudi Arabia, Mr. 

. , .1 Beny said Iraq had yet to honor its pledge 

' to withdraw its forces to a safe distance. 

:u :’vi Madvimc. Ih: He cited evidence that up to 10,000 mem- 
t araii* bers of the dite Republican Guards were 

l:,ri; digging in less than 160 kilometers (KX) 
’ •• * ; •ivihcnn:^ miles) north of the Kuwaiti border. 

*"■ "■ < Mr. Peny said, moreover^ that if Iraq 

:>• .c'/fl'.r.viML did not comp le te the withdrttwjditbegan 
- !•’: t-i-’ A ret:. L earlier this week, the United Stat&’Wouid 

; i.w i M. • I .ill <fchs continue to send slaps, planes andground 
v-tv t. ri Jv tat forces to the jrgkj&^nd pi^vjncrease 
i.**»c i. their numbers beyond apreaipans, which 
nut !:-.-;si.:u , iiinrcc call for the deployment of up to 30,000 
,-j :.v Mn fj ground troops. 

*, wn-tev" “We will not bring our combat troops 
home as long aslraq continues' to threaten 
. peace and stability in the Gulf," Mr. Peny 
u! ’rpo>«j said at an airport news conference. “In- 
' . Ante:."-' deed,' if heavy Iraqrhmts remain in -the 
-■‘Co south, we win expand our cuneiitdeplqy- 

vsa: meat and will consult with our allies about 

\ KcJw-'K the additional application of force as an 
'i ifut “•* appropriate response to the threat posed 
in ly Iraq.” • ; . - 

ibsp N otwithstaxufing Mr.Peny’ s firm wam- 

::,w M-ish " ing, the sease of aisis has reoeded notice- 

. ably in Kuwait following the withdrawal 


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of Iraqi forces from the immediate border 
zone. 

Nevertheless, Clinton a dminis tration 
officials are eager to keep the pressure on 
President Saddam Hussein of Iraq. 

The United Slates is seeking a United 
Nations Security Conned resolution that 
would demand the return of Iraqi forces to 
their positions before the latest advance on 
Kuwait. That would mean removal of Re- 
publican Guard divisions to points north 
of the 32d parallel, or no closer than 240 
kilometers to Kuwait. Aircraft from the 
United Stales, France and Britain already 
are enforcing a ban on flights by Iraqi 
aircraft below the 32d parallel. 

- ..UiL officials jhave ruled out proposals 
to force the removal of all Iraqi forces from 
southern Iraq, fearing that Mr. Saddam 
might , then lose control of the region's 
restive Shiite Muslim population. That, in 
turn, could lead to the breakup, of the 
country, providing an opening for neigh- 
boring Iran, whose Muslim fundamentalist 
regime maintains dose ties to the Shiites 
and is hostile to the West 

Clinton administration officials had all 
but declared victory earlier this week when 
Iraqi forces began their withdrawal. The 
renewed threat Friday of military action 
follows reports Thursday that some Iraqi 
armored units had stopped moving. Dur- 
ing his flight to Kuwait Mr. Peny told 
reporters traveling with him that a Repub- 
lican Guard division of about 10,000 
troops, tanks and armored vehicles was 


digging in near An Nasiriyah, less than 160 
kilometers from Kuwait according to The 
Associated Press. 

An armored division can move at speeds 
of up to 30 kilometers an hour, which 
potentially would put the Republican 
Guards within five hours driving time of 
the tiny, oil-producing emirate to the 
south. 

“If they're digging in, we still have prob- 
lems ahead of us,” Mr. Peny said on the 
plane. Asked what kind of action the Unit- 
ed States might take in response, he said, 
“We’re talking about military action, but I 


See GULF, Page 6 


Compiled bp Our Staff From Dapatcher 

JERUSALEM — The Israeli soldier 
kidnapped by Palestinian Islamic radicals 
was killed Friday night d uring a rescue 
attempt by Israeli troops in a village in the 
occupied West Bank, Prime Minister Yit- 
zhak Rabin announced. 

An Israeli commando and three of the 
kidnappers were also killed during the at- 
tempt to free the 19-year-old soldier, Cor- 
poral Nachshon Waxman, officials said. 

In a grim irony, Mr. Rabin, Foreign 
Minis ter Shimon Peres and the Palestine 
liberation Organization leader. Yasser 
Arafat, received the Nobel Peace Prize on 
the very day the deal that had earned them 
the award came under renewed pressure. 
(Page 6) 

“1 would say that I would be happy to 
give back the Nobel Peace Prize to bring 
back to life both of the soldiers who fell,” 
Mr. Rabin said at a press conference. 

President Bill Clinton urged Israelis and 
Arabs on Friday to continue the peace 
process. 

“I know that it is hard to go forward, but 
we owe it to all those who have paid such a 
heavy price to persist and finally prevail in 
ourpursuit of peace,” Mr. Clinton said. 

The Israeli Army attack was at Bir Na- 
bala, a West Bank village about five kilo- 
meters (three miles) north of Jerusalem en 
route to the Palestinian town of Ramallah, 
which is still under Israel’s occupation. 

Although the PLO arrested scores of 
members of the Hamas movement in the 
Gaza Strip in an attempt to find Corporal 
Waxman, it main tained he was not in their 
area but in Israeli-controlled territory. 

Mr. Rabin had put pressure on Mr. 
Arafat to rescue the soldier, maintaining 
that Corporal Waxman was held in the 
Palestinian autonomous area in Gaza. Mr. 
Rabin said Friday night that he had 
learned only in the morning that the sol- 
dier was in the occupied territories. 

He said he hoped the deaths would not 
derail peace talks with the PLO. “We will 
be in touch,” Mr. Rabin said. “We will find 
what we have to do to make it possible to 
continue the peace process, bearing in 
mind that the Gaza Strip is the cradle of 
Hamas terror activities.” 

Mr. Arafat, who now administers Gaza 
and Jericho, postponed a news conference 


scheduled for late Friday. An aide, Mar- 
wan Kanafani, said the PLO chairman was 
saddened by the loss of life. Mr. Kanafani 
said the PLO had been vindicated in its 
assertion that Corporal Waxman was not 
being held in Gaza. 

“Rabin called Arafat and they ex- 
changed ideas about resuming negotia- 
tions and the future of the peace process.” 
Mr. Kanafani said. “No dates nave been 
set.” 

Eight Israeli soldiers were wounded in 
the raid, which occurred about an hour 
before the 9 P.M. deadline that the kidnap- 
pers had set for killing Corporal Waxman, 
who was kidnapped Sunday. The hideout 
was only two kilometers from the Jerusa- 
lem home of the Israeli soldier, who also 
held American citizenship. 

“Nachshon was killed in cold blood 
while he was bound,” Lieutenant General 
Ehud Barak said at the news conference 
with Mr. Rabin. 

The soldiers attacked a two-storv white 
house in a newly constructed area. General 
Barak said that soldiers blew open the 
door with explosives and charged inside to 
find that Corporal Waxman had been 
killed by his kidnappers. 

Before going in, they offered the kidnap- 
pers a chance to surrender, but the Islamic 
militants shouted back that the soldier was 
dead, he said. 

Village residents said the operation last- 
ed about an hour. The army commandos 
fired rockets and ami-tank' shells at the 
house, Israeli sources said. The kidnappers 
responded with automatic weapons fire. 

News of the raid was held back by 
Israeli military censors for several hours 
until families of the victims could be noti- 
fied. 

The kidnappers had demanded the re- 
lease of their spiritual leader. Sheikh Ah- 
med Yassin, and the freeing of 200 Pales- 
tinian prisoners. 

The raid came even though Israel was 
negotiating with Mahmoud Zahar, a Ha- 
mas political leader who ultimately agreed 
to a 24-hour delay in the deadline. 

Mr. Rabin said he ordered the operation 
because he never got an answer about 
whether Hamas was willing to trade the 
soldier for Sheikh Yassin. 

“This is pan of a policy of an al!-our war 


against terrorism,” Mr. Rabin said of the 
government’s policy of not negotiating 
with terrorists. 

“Whoever wants to advance peace must 
fight the radical, murderous terrorists of 
Hamas and Islamic Jihad and the rejec- 
tionists because they are the murderers of 
peace,” he said. 

Earlier Friday, Mr. Zahar announced 
that Hamas had agreed to the delay after 
Israel indicated a willingness to release the 

See KIDNAP, Page 6 


’88 Laureate 
Is Stabbed in 
Cairo Attack 

Reuters 

CAIRO — Naguib Mahfouz, the 
only Arab to win the Nobel Prize in 
Literature, was stabbed and seriously 
wounded outside his house in Cairo 
on Friday. 

The motive for the attack on the 82- 
year-old Egyptian author was not 
clear, but the police said they suspect- 
ed Muslim militants, some of whom 
once declared Mr. Mahfouz an infidel 
and put him on a hit list. 

The Interior Ministry said a man 
attacked Mr. Mahfouz. the 1988 lau- 
reate, with a sharp instrument and 
wounded him in the neck as he sat in a 
friend’s car outside his house in the 
suburb of Agpuza. The man used a 
knife and ilea in a car in which others 


waiting, 

Mr. Mahfouz was in intensive care 
at the police hospital in Agouza, the 
sources said He had been bleeding 
profusely but his condition was later 
stable and “reassuring,” they added. 

Al-Azhar, the highest Islamic au- 
thority in Egypt, has banned one of 
his novels, "The Children of Ga- 
balawi,” on grounds that it offends 
Islam. 


Kiosk 


Russian Says Iraqis Yield 
*On Sovereignty of Kuwait 


Uhm : 


Compiled bp Ov Staff Frtwn Dispatches 

KUWAIT — Foreign Minister Andrei 
V. Kozyrev of Rusjsia said Friday that Iraq 
had ap parently accepted the UN -mandat- 
ed borders and sovereignty of Kuwait 
without conditions. 

“I ’have "brought good news for the peo- 
ple of Kuwait," be said Friday as he ar- 
rived in Kuwait from Baghdad. “This day 
the independence of Kuwait is rein- 
forced.” 

But Iraq and Russia faced an uphill 
battle for any action to . ease the United 
Nations sanctions against President Sad- 
dam Hussein’s government, as the United 
States bluntly, rejected the idea. 

“One week after Saddam again plunged 
the world into crisis, any consideration <rf 
sanctions relief is dangerously misguided,” 
Secretary of State Warren M. Christopher 
said in a statement issued in Germany on 
lit way back, to the United States from a 
Mkkfle East tour. “It would signal Saddam 

Hussein that the international community 

has learned as Etfle as he has from his own 
colossal misadventures." 

The White House press secretary, Dee 
Dee Myers, added: “We’re not goiti| to 
reward them for a belligerent posture. 

Fears of a fresh confrontation in the 
Gulf flared earlier this month when Iraq 


sent up to 80,000 troops dose to the Ku- 
wait border, triggering -a swift U.S. mili- 
tary buildup in the region. 

Iraq’s recognition of Kuwait is one of 
several UN conditions for tbc lifting of 
sanctions imposed against Baghdad for its 
1990 invasion of the emirate. Iraq’s recent 
buildup was widely seen as a tactic to put 
pressure on the United Nations to lift the 
sanctions. 

Mr. Kozyrev, asked earlier whether 
Iraq’s readiness to recognize Kuwait's bor- 
ders bad conditions attached, responded: 
*T do not think so.” 

“The northern neighbor of Kuwait — 
Iraq — has declared that he recognizes the 
territorial border and sovereignty of Ku- 
wait in accordance with Security Council 
resolutions on this subject,” he said. 

Asked what was needed for the United 
Nations to accept Iraq’s declaration, he 
said experts on the Iraqi Constitution 
would have to decide what was necessary. 

Kuwait wants recognition to be in the 
form of a statement by Mr. Saddam or his 
Revolutionary Command Council that is 
submitted to the Security Council and 
lodged with the United Nations as an 
official UN document. 

.The United States is poshing for a vote 

See IRAQ, Page 6- 



Central Bank Chairman, 
Bane of Yeltsin, Resigns 


PIAZZA PROTEST — A Roman demonstrator potting vocal power 
behind the strike Friday that dosed factories in cities across Italy. Page 2. 

Heavy Fighting Reported in Angola 

SAO TOME (Reuters) —-The Ango- colo, Monakimbundo and Xico Pouvo 
lan rebel movement UNITA reported in Lunda South Province, 
heavy fighting on Friday in the north- The radio said the offensive was 
eastern diamond mining area and the backed by air force bombing raids on 
oil-producing enclave of Cabinda. rebel positions. It reported dozens of 

UNITA radio, monitored in the is- casual ties, but gave no further details. It 
land stale of S£o Tom6 and Principe, also said UNITA forces had killed 77 
raid the government had launched an government troops and had captured 
offensive against rebel positions at Ca- the town of Chimbuande. 


By Steven Erlanger 

Sr*i York Tima Sen ior 

MOSCOW — Only a day after telling 
Parliament he saw no reason to quit, the 
conservative chairman of Russia’s central 
bank, Viktor V. Gerashchenko, gave his 
resignation Friday to President Boris N. 
Yeltsin in a Kremlin meeting. 

Mr. Yeltsin issued a decree relieving Mr. 
Gerashchenko, long a target of market 
reformers, of his post, a presidential 
spokesman said. 

Mr. Yeltsin hod demanded that Parlia- 
ment dismiss Mr. Gerashchenko in the 
aftermath of the “Black Tuesday” crash of 
the ruble, when it lost more than a fifth of 
its value against the dollar in a single day, 
dosing at 3,926 to the dollar. 

The ruble has since strengthened, dos- 
ing Friday at 2,988 to the doDar, slightly 
firmer than Thursday’s 2,994. 


The prime reason for the sudden col- 
lapse was the failure of the central bonk to 
intervene quickly enough to defend the 
currency. Mr. Ydtsin had also dismissed 
the acting finance minister, Sergei K. Du- 
binin, a market reformer who had little to 
do with the crash, and ordered an investi- 
gation by the National Security Council 
and secret police into any “organized" 
efforts to “sabotage" the ruble. 

It was by no means certain that Parlia- 
ment, which is dominated by a loose coali- 
tion opposed to Mr. Yeltsin, would have 
dismissed Mr. Gerashchenko, who also ran 
the Soviet central bank in nonmarket times 
and sat on the Central Committee. 

In his meeting Friday with Mr. Yeltsin, 
who criticized the bank’s “weak control” 
over financial policies, Mr. Gerashchenko, 

See RUSSIA, Page 6 


Down to Wire in Germany 

Kohl’s Coalition Given One- Point Lead 


In Monday’s JUHT: The World’s Rest Restaurants 

A year ago the Herald Tribune's res- countries, Spain, Britain, Switzerland 
taurant critic, Patricia Wells, took on an and Germany. 


A year ago the Herald Tribune’s res- 
taurant critic, Patricia Wells, took on an 
audacious assignment: to rate the world’s 
best restaurants. 

She traveled far and wide, and reported 
not onty on the top tables but also on more 
casual restaurants in Hong Kong, Tokyo, 
the United States, France, the Benelux 


With her report on Italy, rite completes 
her journey and makes her final list of the 
10 best restaurants in the world 
On Monday we publish that list, and 
Patricia Wells’s explanation of how rite 
made the fatal cut 


By Steve Vogel 

Washinpan Post Service 

DORTMUND, Germany — What has 
been called the dullest election campaign 
in postwar Germany has finally come to an 
end, and taking the stage at a last-gasp 
campaign rally here was the man given — 
fairly or unfairly — no small share of the 
blame: Rudolf Scharping, the Social Dem- 
ocratic challenger to Chancellor Helmut 
KohL 

Even in this workers' brewery town, a 
Social Democratic stronghold for decades, 
the response to Mr. Schaiping’s standard 
stump speech calling for more jobs was 
tepid at best, with applause never reaching 
levels higher than polite. 

It has been that kind of campaign for 






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Filipinos Dare to Hope Latest Boom May Be for Real 





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■ 


By Kevin Murphy 

International Ht raid Tribune 

MANILA — Ager Kiocho’s problem 
is the Philippines’ good fortune: Die 
market forms portable electric genera- 
tors has collapsed as the fast-growing 
Philippine economy begins to power 
ahead without them. 

An economic turnaround has been 
bora in the Philippines, and it is bringing 
the country’s first sustainable boom, for- 
eign and Philippine analysts believe. 

Business and consumer confidence is 
surging, and even the country’s endemic 
electricity shortages have ended. 

“We are definitely suffering from the 
nonsale of generators in Manila now, 


said Mr. Kiocho, an executive with 
Honda Philippines Inc. But, he added, 
“We are seeing the sales of motorcycles 
pick up very well instead." 

Memories of the 12-bour-a-day black- 
outs that crippled the economy as recent- 
ly as last year are quickly fading along 
with images of coups, capital flight and 
the growth-sapping cronyism of the Fer- 
dinand Marcos era. 

They have quickly been replaced by 
euphoria over statistics reflecting rising 
growth and exports, lower inflation, a 
booming stock market, increased foreign 
investment and a cautious, qualified bul 
of economic health from the internation- 
al Monetary Fund. 


“When you hear ‘recovery in the Phil- 
ippines’ it brings out the skeptic in every- 
one," said Mana Lomotan, an economist 
with Nomura Research Institute in Hong 
Kong. “But the situation in the short 
term is very bullish. What remains to be 
seen is whether the reform process stays 
on track.” 

On a five-day visit starting Saturday, 
the IMF managing director, Michel 
Camdessus, is likely to acknowledge the 
successes finally achieved in the fund’s 
longest-running support program. 

But bankers and analysts say he will 
remind his hosts that annual inflation, 
which eased to 8.6 percent in September 
from 9S percent in August, remains a 


threat to the recovery. International debt 
also remains high. 

“They’re tailring about achieving the 
kind of growth levels enjoyed by their 
Asian neighbors,” said an international 
banker. “But they’re not going to be able 
to match that kind of growth without 
matching their neighbors’ much higher 
national savins rates. And meeting 
those targets wul require a great deal of 
work.” 

For their pent, Philippine officials ac- 
knowledge a risk exists that the current 
euphoria could militate against tax and 
tariff reforms and the government 

See MANILA, Page 7 


Mr. Scharping, whose inability to electrify 
the electorate has crippled the Social Dem- 
ocrat’s efforts to deny Mr. Kohl a fourth 
term. After what has seemed an intermina- 
bly tedious campaign, election day arrives 
Sunday for Germany’s 60 million eligible 
voters. 

An Allens bach Institute poll Friday 
gave Mr. Kohl’s coalition of Christian 
Democrats (including the Bavarian sister 
party, the Christian Social Union) and 
Free Democrats a combined 48.S percent 
of the vote, while the Social Democrats 
and their potential partners, the environ- 
mentalist Greens and the reformed Com- 
munists, got a combined 47.5 percent. 

“I'm absolutely certain we’re going to 
win," a senior official in Mr. Kohl's office 
said Friday. “But it will be close." 

“Scharping does not exactly have the 
strongest personality in the world,” said 
Dieter Koenmemann. a Dortmund insur- 
ance man and Soda! Democratic support- 
er, joining in the 10 seconds of clapping 
that followed his speech. 

Six months ago, when the 46-year-old 
Mr. Scharping was riding high in the polls, 
he encouraged, comparisons between him , 
self and President Bill Clinton as a prag- 
matic moderate drawn from a new genera- 
tion of leaders. 

But he and the Social Democrats have 
watched helplessly as a double-digit lead 
last February evaporated into a five- to 
seven-point deficit. The wooden Mr. 
Scharpmg has failed to connect with voters 
and has been roundly criticized even with- 
in his own party for running a lackluster 
campaign. 

Despite it all, the Soda) Democrats find 
themselves with at least an outside aHar^ 
to be in a ruling coalition for the first time 
since the collapse of Chancellor Helmut 

See GERMANY, Page 6 






...i. 

, ¥ 


INTERNATIONAL HERALD TRIBUNE, SA.TURDAY-SUNDAY, OCTOBER 15-16,' 1994 


Unions Take Battle Against Berlusconi to the Piazzas 


By Alan Cowell 

Sew York Times Service 

ROME — In a further challenge to 
yirae Minister Silvio Berlusconi, hun- 
dreds of thousands of people took to 
the streets of Italian dues Friday in a 
general strike supposed to protest aus- 
J®ty proposals but used by some 
demonstrators to call for the govern- 
ment’s downfall 

The protests in dries from Bari to 
Milan ranked among the biggest in 
recent years and were designed by la- 
bor unions to demonstrate the depth of 
opposition to budgetary measures that 
would reduce pensions flnri health care 
benefits as the government strives to 
trim Italy’s bugs public deficits. 

“Today, people in a hundred Italian 
piazzas have cast a huge vote of no 
confidence in the budget and as from 


tomorrow, we will continue,*' said Pie- 
tro a Milan labor leader. 

Union leaders said 3 million people 
took part in stoppages and demonstra- 
tions. 

Mr. Berlusconi was on an official 
visit to Moscow during the strike. 

The authorities, and big business 
have sought to play down the four- 
hour general stnke as old-fashioned 
union tactics. 

“The unions are having trouble get- 
ting rid of an old way of thinking,” 
said Cesaie Romiti, the m a nag i ng di- 
rector of Fiat, whose factories near 
Turin reported that half of their work- 
ers were on strike. “They haven’t un- 
derstood that the country is changing,” 
he told reporters during a visit to Pans. 

Nonetheless, the stoppages, which 
hit factories along with air transport. 


border posts, banks, railroads and hos- 
pitals, added to the woes of a govern- 
ment that took office last May on a 
surge of optimism and promises of 
renewal. 

Mr. Berlusconi, a wealthy tycoon 
who entered politics only last January, 
is already facing a crisis of credibility 
inspired by the apparent conflict of 
interest between his continued owner- 
ship of his fininvest business empire 
and his work as prime minister. 

Apart from other interests, Finin- 
vest owns Italy’s biggest commercial 
television networks, and the prime 
minister has been unable to embark on 
reforms in the state-run broadcasting 
system without accusations from his 
aides that he is seeking to dominate 
the airwaves. 


Mr. Berlusconi is also in open con- 
flict with anti-corruption magistrates 
in Milan who are investigating Finin- 
vesfs dealings. His younger brother, 
Paolo, is facing accusations that be 
paid bribes to the tax police to secure 
favorable audits. 

As the strike unfolded Friday, dem- 
onstrators in Milan cheered as Finin- 
vest employees joined the protest 
march. In Rome, some strikers 
chanted, “Berlusconi out” 

Some protesters carried banners 
saying, “Forza giudici” (“Go, 
Judges ), a spoof on the name of Mr. 
Berlusconi’s political party, Foiza Ita- 
lia. 

The real impact of the general strike 
will not be known, however, until Mr. 
Berlusconi’s partners in his loose, 
three-party coalition have decided 


whether the turnout was big enough to 
persuade them to break ranks with the 
prime minister over the austerity mea- 
sures. 

Mr. Berlusconi heads a coalition 
made up of his Forza Italia, the neofas- 
cist National Alliance and the federal- 
ist Northern League. 

The budget itself presents Mr. Ber- 
lusconi with a broader dilemma. 

His election campaign was fought 
and won largely on promises of a mil- 
lion new jobs and painless economic 
revival. 

But Italy’s public deficit, the gap 
between what the government spends 
and what il earns, is so big that cuts in 
government spending are needed both 
to satisfy the needs of good housekeep- 
ing and to placate the money and bond 
markets. 


Grudgingly, Nordics 
Move Toward EU 

Finns Voting in First of 3 Polls 


By Tom Buerkle 

International Herald Tribune 

BRUSSELS — The tide of 
public opinion in Scandinavia 
is turning in favor of European 
Union membership, but there 
are still big doubts in the Nor- 
dic countries. 

In Finland, where some 30 
percent of the electorate has al- 
ready cast ballots in advance of 
the referendum on Sunday, the 
vote is running nearly two- 
thirds in support of member- 
ship. Polls indicate a similar fi- 
nal result, which would rival 
Austria’s big “yes" vote in June. 

Finland has long been the 
most pro-Union Nordic coun- 
try because of its long frontier 
with Russia and the collapse of 
its trade with the former Soviet 
Union. 

Membership in the EU 
would mean security in political 
and economic terms, according 
to Eiklti Lnkanen, the country’s 
ambassador to the EU. 

Membership backers hope a 
big victory margin will lead to 
more support in referendums in 
Sweden on Nov. 13 and Nor- 
way on Nov. 28. 

In Norway, a recent poll 
showed voters almost evenly 
split on membership if Finland 
and Sweden vote to enter. 

But for all the momentum, 
there is little enthusiasm for 
membership, largely because 
fear is the driving force on the 
hustings. 

Rather than stressing the 
merits of membership, support- 
ers warn of the costs of rejec- 
tion, saying it would consign 
their countries to geopolitical 
and economic isolation marked 
by higher interest rates, weaker 
currencies and fewer jobs. 

“What can we do together 
with Iceland and Liechten- 
stein?” asked Lars Anell, Swe- 
den’s ambassador to the Union, 
referring to the only members 
of a broad European free-trade 
zone with no plans for EU 
membership. 

Major corporations, includ- 
ing Ericsson and Volvo, have 
warned that if Sweden stays out 
of the Union, they will steer SO 


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bfflion kronor of investments 
away from home and into the 
EU*s single market over the 
next five years. 

“Sweden needs Ericsson, 
Ericsson doesn’t need Sweden,” 
said Mr. Audi, who will quit 
diplomacy to become a director 
at Volvo at the end of this year. 

The credibility and economic 
growth that will come with 
Union membership are vital to 
reducing the country’s budget 
deficit, which is ballooning ont 
of control at nearly 13 percent 
of total econom i c output. Fi- 
nance Minister Goran Persson 
said. 

“It’s crucial to our general 
economic development,” he 
said. “Better growth and lower 
interest rates will have a posi- 
tive effect on the budget.” 

Opponents, meanwhile, fear 
losing their uniqueness along 
with their sovereignty, contend- 
ing that Nordic traditions of 
open government, generous 
welfare systems and sexual 
equality will be eroded in a 
marriage with their southern 
neighbors. 

Sweden’s neutrality “has 
served not only ourselves very 
well but it has made it possible 
for us to work over the decades 
far <jisnnTunru»nt and solidarity 
with poor countries,'' said Sten 
Johanssen, who heads the “no” 
faction in the Social Democrat- 
ic Party that just took power. 

The issue has split the party. 
With two ministers opposed to 
membership. Prime Minis ter 
Ingvar Carlsson, who supports 
it, said Friday that the govern- 
ment would not take sides. 


Airlines Using 
Airbus Jets Told 
To Watch Speed 

Reuters 

PARIS — France issued a 
speed warning Friday to French 
airlines flying Airbus jets similar 
to the A-3I0uownby the Roma- 
nian airline Tarom that nearly 
crashed last month as it came to 
land at Paris’s Oily Airport 

The French civil aviation au- 
thorities said crews flying the 
Airbus Industrie A-310 and A- 
300-600 should respect speed 
limits and be familiar with the 
automatic speed protection sys- 
tem in these aircraft 

The Tarom jet narrowly es- 
caped crashing on Sept. 24 after 
it dived unexpectedly toward 
the ground as it came in to land. 

The French accident inquiry 
office said the Romanian Sight 
crew had not understood the 
workings of the automatic 
speed protection system. 

“The crew had not identified 
the cause of the aircraft’s be- 
havior,” it said. “This consti- 
tutes the pivotal event from 
which work has to proceed.” 

The office’s statement said 
the crew disconnected the auto- 
matic pilot prior to landing and 
engaged the flight director and 
automatic throttle. The flight 
director indicates which direc- 
tion the pilot should take. 

The phot did not know that 
once these two systems are en- 
gaged, the aircraft has an auto- 
matic speed protection, to limit 
its speed, an official said. 




tj W nTlW»iT x 



Baton Giodl/Agcncc Fnace^revc 

VIENNA TRANSITION — Prestdeat Thomas Kfesffl, left, showing Chancellor Franz Vranitzfcy into the Hofburg 
palace Friday for discussions on the formation of a new government foflowing Austrian elections earlier tins month. 

2 More Blows for Bailadur * {ussia " Ai 2“f 

J Score Low Marks 

Minister Resigns and Ex-Minister Jailed Over Corruption In Safely Study 


By Barry James 

International Herald Tribune 

PARIS — Prime Minister 
Edouard Balladur’s political 
standing suffered a severe blow 
on Friday with the arrest and 
jading of a former minister fol- 
lowed by the resignation of a 
cabinet member on corruption 
charges. 

Gerard Longuet, the industry 
minister, handed in his resigna- 
tion after a businessman ac- 
cused him of seeking a 6 million 
franc ($1.1 million) kickback to 
help finance his Republican 
Party in 1988. 

This followed the arrest of 
Alain Carignon. the mayor of 
Grenoble and a former minister 
of communications, who re- 
signed in July in the face of 
kickback allegations. 

They are the highest-ranking 
figures to be implicated in a 
series of corruption scandals 
tainting Mr. Bahadur's center- 
right government. 

The latest charges against 
Mr. Carignon allege that he 
awarded contracts to the giant 
utilities company Lyonnaise 
des Eaux in return for kick- 
backs. His lawyer said Friday 
that he had not received any 
money illegally. 

Mr. Longuet is tinder judicial 
investigation for the alleged il- 
legal campaign financing of his 
Republican Party and for alleg- 
edly receiving kickbacks for the 
building of a luxury villa in the 
south of France. He denied the 
allegations, and Mr. Bailadur 
gave him a month to clear his 
name. 

But the fresh allegation 
against him on Friday, coming 


Every Tuesdcy 
Gonfcxf Fred Koran 
Tel: (33 1) 46 37 93 91 
foe (33 1)46379370 

or your nearest B-fT office 
or repre se ntative 


on top of the Carignon case, 
turned him into a serious liabil- 
ity for Mr. Bailadur. 

When he took office last year, 
Mr. Bahadur promised to make 
the fight against corruption a 
top priority, following a series 
of allegations of sleaze against 
the defeated Socialist Party. 

His failure to root out mal- 
feasance in government may 
have hurt him politically, 
sources said. Anything that 
hurts him may rebound in favor 
of the Gauflist Jacques Chirac 
or the Socialist Jacques Delore, 
both seen as likely rivals in the 
presidential elections. 

But with some 60 “affairs” 
under investigation, the ques- 
tion of corruption runs across 
the political spectrum, ranging 
from individual wrongdoing to 
the illegal financing of parties. 

A poll published Friday by 
the weekly Le Point indicated 
that the French are losing pa- 
tience with the ability of their 
politicians to control corrup- 
tion. The issue is certain to be- 
come one of the major themes 
of the presidential campaign. 


Of the 1,000 people ques- 
tioned in the poll only about 40 
percent said they were confi- 
dent that Mr. Bailadur could 
get a grip on corruption. How- 
ever, they did not think Mr. 
Dtiore would do any better. 
Only 26 percent thought Mr. 
Chirac would be capable of 
dealing with the problem. 

Although corruption has not 
yet reached the levels reported 
in Italy or in Spain, Mr. Balia- 
dur said the multiplication of 
affairs risked poisoning the en- 
tire body politic. 

Mr. Bailadur has proposed 
tighter controls on the personal 
finances of elected officials. He 
also wants a reduction of at 
least 30 percent in campaign 
expenses, which have ballooned 
as candidates have resorted to 
U.S.-style televised campaign 
ads. 

Candidates are allowed to 
■Spend a maximum of 500,000 
francs in towns of more than 
80.000 inhabitants, but they 
have found many illegal ways of 
getting around the ceiling. 


Agrnce France- Prase 

MOSCOW — Russian air- 
lines, suffering a series of fatal 
crashes, only “minimally” meet 
international aviation safety 
standards, according to the re- ' 
suits of a Russian-U.S. inquiry 
published Friday that urged im- 
mediate changes so the situa- 
tion does not worsen. 

The study was conducted by 
a team of 60 U.S. and Russian 
experts, who spent more than 
two months investigating at air- 
ports in 30 Russian areas. 

The review body called for a 
new code spelling out the re- 
sponsibilities of various depart- 
ments charged with investigat- 
ing airline accidents. The report 
also proposed a law establish- 
ing independent inquiries into 
airline accidents. 

It warned that the status of 
the Russian civil aviation sys- 
tem most continue to be closely 
monitored over the next few 
years because of the “volatile 
nature of the Russian economy, 
and other forces” that could af- 
fect safety standards. 


WORLD BRIEFS ■ 

Deal Near, U.S. and North Korea Say 

GENEVA (Reuters) — U.S. and North Korean officials ex- 
pressed confidence- ftiday (hat a deal was dose that 
reshape Pyongyang’s nuclear energy program and remove a longf 
standing threat of war in East Asia. „ , 

But as experts from the two countries labored over a detailed 
text, diplomats said it could take a few more days — perhaps into 
the middle of next week — before a final accord was set 
In Washington, Winston Lord, assistant secretary of state for 
East Asian and Pacific affairs, said the Geneva negotiations "may 
be on the verge of archer significant breakthrough.” And a North 
Korean official in Geneva said: “Both sides are endeavonng to 
produce a satisfactory agreement. I think they will succeed. 

Major Foresees a Wealthier Britain 

BOURNEMOUTH, England (Renters) —Prime Minister John 
Major, urging his Conservatives not to panic over poor opinion 

_ a m. T7 ■ — imt thrtf 


In the dosing address to an annual party conference mat nas 
exposed deep rifts over Europe, Mr. Major held firm against 
pressure far a lurch to the right to dent the 25-point poll lead of 
the Labor Party’s leader, Tony Blair. 

Recalling bow the Conservatives in 1954 had promised disbe- 
lieving Britons their wealth could double in 25 years, Mr. Major 
s aid the yame: opportunity was within grasp. “Because of what has 
now been achiercd, with the right determination, with the right 
policies, we have the chance once again to double- our living 
standards in the next 25 years — and that’s something to feel good 
about,” he said. 

Sri Lanka Talks Are Off to Good Start? 

JAFFNA, Sri Lanka (Reuters) — Sri Lankan government 
officials and Tamil separatist rebels ended their first round of 
peace talks Friday, with both sides saying they would like to end 
the country’s 1 1 -year civil war. 

The government team said it would ask Prime Minister Chan- 
drika Bandaranaik e Kumaratunga to consider rebel requests, 
which i nfflnHc a cease-fire, safe passage for travelers and the 
Msing of economic hardships. The delegation’s leader, K. Balapa- 
tabendi, who is a senior aide to the prime minister, said she was 
likely to view the requests favorably. 

The two sides met in rebel-held Jaffna, 320 kflometers (200 
miles) from Colombo. The talks are expected to resume in 10 days, 
also in Jaffna, a member of the government side said. 

War Crimes Panel Investigates Serb 

THE HAGUE (Reuters) — A Bosnian Serb was named Friday 
as the subject of the first international war crimes investigation 
once the Nurembuzg and Tokyo trials after World War H 

The United Nations Yugoslavia war crimes tribunal said Dnsan 
Tadic, 38, arrested earlier this year in Germany, was suspected of . 
trifling, ra ping , bearing and torturing Croats and Muslims during . 
“ethnic deansing” in the Prijedor region of northwestern Bosnia. 
A prosecution attorney, Michael Keegan, said Mr. Tadic’s alleged 
crimes pointed to a Serbian plan for “widespread and systematic 
destructive persecution against the civilian population of the 
Prijedor region, commonly referred to as ethnic cleansing.” 

At the Tmopolje prison camp, Mr. Tadic was witnessed .raping 
Muslim women on several occasions. At the notorious Omareka 
prison camp, /Tadic beat and tortured prisoners on a daily baas 
and is personally responsible for the murder of more than 10 
prisoners,” Mr. Keegan said. 


TRAVEL UPDATE 

BA Halts Concordes to Washington 

LONDON (Combined Dispatches) — British Airways said it 
would cease its thrice-weekly Concorde flights between Washing- 
ton and London’s Heathrow Airport on Nov. 8, citing lack of 
demand. _ ........ 

< Instead. BA wflj base one of its seven Concorde planes perma- 
nently at New Yolk’s Kennedy Airport and work at developing 
the North American charter market. 

“We were only flying to about 30 percent capacity on the route, 
and there is great demand on charters for Concorde now," a . 
spokesman said. (AFX, Bloomberg ) ■ 

Under a court aider, striking check-in staff of Scandinavian 
Airlines System returned to work at Copenhagen's airport after 
paralyzing the carrier's European network /or three days. SAS 
said service would be back to normal Saturday. (Reuters) 
Starting Satmday, Copenhagen wfll be joined with the European 
Continent by a 73-kflometer (5-mile) railroad tunnel Europe’s 
second longest after the Channel Tunnel (AFP) 

A train that will run through the Channel Tunnel between 
London and Paris broke down on the English side. The disabled 
Eurostar high-speed train,- which had been on a test drive from 
France, snarled traffic for up to two hours on parts of the British 
Rail system in southeastern England. (AP) ■ 

The last of three pits of terra-cotta warriors and horses near! 
China's ancient capital of Xiao was opened to the public Friday. - 
Visitors will be able to watch archaeologists as they unearth the ; 
figures, buried around the tomb of Emperor Qin Shihuang, - 
founder of the Qin dynasty (221-207 B.C.) (AP) ' 

Shanghai wfll ban smoking in all indoor public places starting! 
Dec. 1. (Reuters)) 


Face-Lift for Decrepit JFK International Terminal 


By Clifford J. Levy 

Hew York Timet Service 

NEW YORK — Transportation officials have 
announced an $800 million plan to rebuild the 
largest terminal at John F. Kennedy International 
Airport, the International Arrivals Building, a 
cramped and dreary relic of the age of propeller 
planes that many passengers avoid if they can. 

The proposal by the Port Authority of New York 
and New Jersey, is intended to bring about a sweep- 
ing renovation of the terminal which is used by 
more than 40 foreign airlines and serves nearly half 
the international travelers at the airport. 

It is to be the biggest chunk of a 543 billion 
overhaul of the airport financed by government and 
private money. The plan also includes a new rail 
system for travel between terminals and a new air 
traffic control tower, officials said. 

The terminal project, which could be completed 
within seven years, would create the amenities that 
are standard at many other airports but sorely miss- 


ing from Kennedy: well-lighted waiting areas with 
stores and other conveniences; clear signs and pas- 
sageways; ample space for ticketing, baggage, cus- 
toms and immigration, and gates that can handle 
more and larger jets. 

The Pent Authority has been accused of bungling 
a number of smaller projects at Kennedy in recent 
years, including a $21 million tunnel intended to 
speed baggage to a mammoth new central terminal 
that was to have consolidated ticket sales, check-in 
and shops in one building. 

The tunnel was built, but the proposal for the 
terminal was later scrapped after the airlines, which 
ultimately would have bad to pay for it, said they 
could not afford it. 

The current plan for improving the airport was 
pul together in response to the rejection of the 
central terminal idea. 

In a separate proposal the Port Authority wants 
to spend $23 billion on a new railway tine from 
Manhattan to Kennedy International and La Guar- 


dia airports, to be completed by the year 2003. 

And in July, four foreign airlines said they would 
build the first entirely new terminal at Kennedy in 
more than two decades, on the site of the old Eastern 
Air Lines tennin&L Construction on the new termi- 
nal is expected to start next year, and it is scheduled 
to open in 1998. 

David Z. Flavin, director of aviation for the Port 
Authority, said the renovation of the International 
Arrivals Budding would be done in stages so the 
terminal could operate daring construction. 

Over the years, the building has been expanded to 
1.4 million square feet (390,000 square meters) from 

600.000 square feet in response to the increased 
volume of passengers and larger jets. 

When the terminal was erected, it handled fewer 
than 2300 passengers a day. Today, it handles up to 

20.000 popple a day at Z4 gates and at 21 remote 
padring areas for planes, where passengers disem- 
bark and are shuttled to the t erminal 




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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 15-16, 1994 


Page 3 


THE AMERICAS/ NORMAL 


C 




s 


POLITICAL NOTES 


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President Clinton holding a jacket presented to him by a national police organization. 


Milling fiie President’s Mind 


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„ WASHINGTON — As President Bfll 
Clinton struggles with an array of interna- 
■* tional and domestic challenges, die inner man 
is the object of growing scrutiny. 

Congress tore apart his legislative plans 
and he’s being pilloried as an ineffective lead- 
er in the election campaign. Now several 
'■ national magazine articles have attempted to 
. pry into his psyche. 

According to the latest armchair diag- 
' noses, Mr. Clinton is: 

• A premature adult who felt “primal 

- abandonment” and used his rage “to drive 
_ forwards mediating ever-higher levels of con- 
i flict.” — Mother Jones. 

• A co-dependent enabler suffering from 

- "multiple president disorder,” who is "so 
open to suggestion as to be practically an 

_ cm path." — The New Yorker. 

«• Practiced from a distance, often by parti- 
. sans, mining the presidential mind can be a 
i dubious venture. Fred Grecnstein. a Prince- 
ton scholar and author of two books on 
presidential leadership, said that it "can 
j readily become sheer bashing rather than 
J character analysis.” f AP ) 

- It’s an Amtrak-Leno Collision 

WASHINGTON — Amtrak feels it has 
been taken for a ride by Jay Leno. and now 
» it's getting even. 

The train company is so exasperated by 


Amtrak trains in recent years have been the 
fault of others. He said that Amtrak had tried 
corresponding with NBC, “but it hasn’t 
helped, so now we’re trying to get their atten- 
tion by hitting them in the wallet. " ( li'PI 

MAACP Aide Accused of Fraud 

WASHINGTON — Two months after fir- 
ing its executive director, the N AACP is em- 
broiled in another dispute involving one of its 
senior officers, William Gibson, the chair- 
man of the board. 

In three recent articles. Car! Rowan, the 
syndicated columnist, has asserted that Mr. 
Gibson had used his position as chairman for 
personal gain. Mr. Rowan, a former official 
in the administration of Lyndon B. Johnson, 
alleged that the chairman had used an Ameri- 
can Express card provided by the civil rights 
organization to charge more than S 500.000 in 
airline travel, hotel expenses, car rentals and 
personal items since 1986. 

Citing internal financial records of the Na- 
tional Association for the Advancement of 
Colored People, Mr. Rowan also alleged that 
Mr. Gibson had received $300,000 in ques- 
tionable reimbursements since he began his 
tenure as chairman. 

Copies of NAACP financial records 
viewed Thursday indicated that for 1990 Mr. 
Gibson was given either $2,800 or $3,000 a 
month. Copies of the checks list the reason 
for the payments as “board travel and per 
diem" or "office expenses." But the fact that 


t»m d vr\c:: i iiicpljE ^ .... , . , 

tmiifi Vrp ».xk OJ Jr abdul SSriBllion ill advertising from Leno s 

wv< nVatki't * network. NBC. 

..atvnYix irjoft 09 - Amtrak said its decision was to protest Mr. 

* . . • Lcn°’s Pkes about the safety of Amtrak's 

mh! ’Ml . h.ir.r.s .* i »-■•••* . trains. Referring to an Amtrak ad that shows 

>ir '' » a couple cozying up to each other on a train, 

■nrtkMs * hurt in *ttff ^ r Mr. Leno said on the air last week that he 

i it* .it ii'pcutoifcifsjfir - always knew "a near-death experience" 

IU*t»9V\te '.h i work i.»i three i? . brought people closer together, 

sk N.i!Hid.iv ■’* \ An Amtrak spokesman, Howard Robert- 

— i _«ii — < linhilsEr - son, called Mr. Leno's remarks slanderous, 

ISStP Milr ! t 4 ist.i 3 j lusnd. . given that the majority of accidents involving 

il’Mnnfi Iubkc! _ 

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The train company is so exasperated by diem" or "office expenses." But the fact that 
* -being the butt of Mr; Leno's jokes on "The the amount paid never varied raised theques- 
Tonight Show” that it has decided' to yank lion of whether they constituted a stipend. 
^ <•_ ( N YT) 


Quote/Unquote 

Janey Anderson. 39. an advertising execu- 
tive with a Miami newspaper and a former 
supporter of President Bill Clinton: "The 
problem is that although things are going 
fairly well in the country right now, we're not 
confident about Clinton. There isn't enough 
of a belief that he himself believes in what he 
says." (U 'Pi 


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rtt I nS U:ii! ' • Weeks after a New York Gty police officer San Francisco engineering firm, ISEC Inc„ 

- hrtll .. 1 , ll «juriu»N inJ - shot and killed a teenager vdio was carrying a studied the effects of an earthquake hitting 

;,i Jhcrrik'' . t0 y gun. Toys ‘R’ Us has decided to stop 8 3 cm the Richter scale along the nearby San 

J*r*L ^ivVo'i' •»' ^ *5 " string realistic-lookiiig toy firearms. “It is Andreas fault 

-Iuf L.ui«h 1 inprf^ •• ahsrfute fact,” said a spokeswoman for the • A 12-year-old girl was handcuffed and jailed, 

■ , . , . s • V, , • ‘ wp company, the world’s largest toy retailer, in and then released on appeal in Fort Lauder- 


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• r response to a Wall Street Journal report on 
i ' the dedaon. Other retailers already have 
polled some toy guns off shdves or are con- 
- sideling the move, the Journal said. 

• Bacteria common to breast mflk and yosprt 
can greatly reduce the risk of infants develop- 
ing diarrhea, iridi eating that such “good 
germs” can be added to foods to attack the 
worldwide health problem, researchers said. 

Sdttfb&h approach to die Golden Gate 
Bridge would be liable to collapse in a major 
earthquake, an engineering consultant said. A 


• A 12-year-old girl was handcuffed and jailed, 
and then released on appeal in Fort Lauder- 
dale, Florida, after refusing a judge’s order to 
hand over her diary as evidence in the trial of 
her father, a detective, whom she accused of 
molesting her. 

• An American Airlines jet en route from 
Dallas to Tokyo was forced to make an emer- 
gency landing in Seattle after a passenger 
tried to open one of the plane's doors, the FBI 
said. Asked about the man’s motive, an FBI 
spokesman said, “I think it's safe to say that 
his behavior was probably erratic.” 

Rnten. NYT. AP. AFP 


BaJ t •• 1 j 


1 11 4*. 


flat, diltv l‘i 




Los Angeles Plans a Camp 
For Downtowns Homeless 


I jdane*. *» 
ltt«W 111 


icmsfl*- 






the ‘ Cibl .* T 1 - — - 

Die rcf* tfc f« 4 'Y 1 ' n p . 

M WtuM !h- .X ■ qh -u.’S : ■ la Angeles Tuna Semce 

Zfaate duj »*•.>’ -pets I LOS ANGELES — Deter- 
kmkt!::£ w make downtown Los 

Niu Tf :': Angdes friendlier to business, 

1 u 1 13 * the dty administration is worit- 

** ,e Ii hn-ci i c> w ihg on a plan to shuttle homo- 
* n *‘ \ less people to an urban camp- 

^ . i i l '■! ground on a fenced lot in an 

’'' Jj'-' 1 ? V<toriaJarea. 
at H 1 Mayor Richard Riordan’s 

V proposal, which has come un- 
ii» der attack by some advocates 

" 6w he homeless, calls for turn- 

ihg a vacant blodc into a home- 
less drop-in center, where up to 
~ {{On*- 800 pei^tle could take showers 

caniny aTS and sleep on a lawn. 

, ::-t » “This is not about dealing 

A the streets of honrtlesspe^le,” 
awf <J 2 , f : spid Deputy Mayor Rae Frank- 

, %-•; Hn James. 

" C N “It’s about giving the home- 
^ _> 3pss people options so they 

^ don't have to stay on the 

v y: n V'-"' But advocates for die bome- 
w — r " .v . '■ “ J fesssay ihatthe proposal is just 
',v.r ,iSfv a misguided ploy to keep the 
tattered hordes away from busi- 
*• aesses and, 7 at the same time, 
out of the sight of tourists and 
a ,,,, * 4 shoppers.'! 

■ “We We not going to allow 
\\? J people ipcan^p on the streets at 
.. '“ r ‘ wffl,” said' Don StoivadcJ head 

^ A ‘‘ " of OTwratkins-fortneLos Ange- 

y IcsConmranity Redevelopment 

/ Ago icy. i% 


He added, “It is illegal and 
improper to camp in front of 
other people’s property.” 

Mr. Spivack said he expected 
a crackdown on such campouts 
to follow the shelter’s opening. 

Under the mayor’s plan, vans 
staffed by social service work- 
ers would patrol downtown 
streets and transport homeless 
oeonle to the drop-in facility on 


Peter Keppler 

presents 

Gala Evening Dresses 
Cocktail Extravagance 
and a Bridge Collection 
on October 15 - 29 , 1994 

at the Hotel George V 
Avenue George V - Paris. 
Salon 154. 

Hfel.: (1) 47.23.54.00 


Gingrich to Attack if Republicans Take House 


By Ann Devroy 
and Charles R. Babcock 

Washington Par Struct 

WASHINGTON — De- 
scribing for a group of lobbyists 
the Republican strategy for the 
midterm elections. Representa- 
tive Newt Gingrich declared 
that Clinton Democrats should 
be portrayed as “the enemy of 
normal Americans.” The Geor- 


tained by The Washington Clinton was the enemy. Mr. 
Post. Gingrich instead mentioned 

Mr. Gingrich confirmed in presidential appointees, such as 
an interview the accuracy of ^ ur S eon General Joycelyn El- 
much of the memo but said Ma gazin er, the ar- 

some of the quotes attributed to Mr. Clinton's health 

him had been taken out of con- Pe- 


nance in a Republican House, 
said be and some colleagues 


More than SI 00.000 was 
raised for the National Rcpub- 


had already talked to some lican Campaign Committee at a 
Democratic members about the luncheon Wednesday featuring 


text He said the actions he was P 1 "- Elders s advoca- 

pro posing were not significant- ^ ™ abortion rights and the 
ly different From those that the stability of birth control in 
ocrats, who have con- schools put her at odds with 
H fhe Haiim for an v«*ns Americans with different reli- 


. ^American,-’ The G^r- ^SSSS^JS reS 

Sit wntrol of had inflicted on the Republic^' gjf 

House, it wouJd use “sub- ^ ^ 


the House, it would use “sub- 
poena power” and create a se- 
lect committee on corruption to 


ministrations. 

“Washington just can’t imag- 


mvesti gate the administration ine a world in which Republi- 
of President Bill Clinton. cans would have subpoena 
Mr. Gingrich’s speech, to a power,” Mr. Gingrich said in 
group of two dozen executives interview, instead of being 
of government-relations com- Stocked by Democrats. He 
panies, provided a detailed added . : Imagine the last two 


take over every aspect of their 
health care." 

Mr. Gingrich added that he 
should have used the word 
"threat” to normal Americans 
rather than “enemy.” 

Republicans need to capture 
40 seats to control the House. 


ork of how he thought yeara if we could have used sub- ^dSe ££ rid tfStTpaS 

inhlirum cmiM cantnre POena power to get lO the bot- r.ii .li—u.i.. 


the Republicans could capture poena power to get to the bot- fell s jj 0r r it would try to 

the Housefor the first time in to™ of Whitewater, a refer- make up' the difference with 
40 years and what they would the . investigation into Democratic conversions, 

do if they succeeded One par- Mr-^Chntons busings affairs Representative Jack Fields, a 
ticipant WTOte a four-page before he became president. Texan who is in line to be chair- 

memo, covering the high l i g h ts Asked to describe the “nor- man of the subcommittee on 
of the meeting, that was ob- mal” Americans for whom Mr. telecommunications and fi- 


*n/ yctua miu muu iw-y wuuiu ~ . — — —a . 

do if they succeeded. One par- Mr- Clinton s business affairs 
ticipant WTOte a four-page before he became president, 
memo, covering the highlights Asked to describe the “nor- 
of the meeting, that was ob- mal " Americans for whom Mr. 


possibility of changing parties. 
“I think we will have a majority 
on Nov. 8 or Nov. 30,” he said 

In the meeting with the exec- 
utives, Mr. Gingrich offered 
suggestions for soliciting con- 
tributions from companies, lob- 
byists and individual donors: 

• Individual donors should 
be told, he is quoted as saying, 
that the election is a chance for 
them to “get even for the Clin- 
ton tax increase.” 

• Lobbyists should be told, 
Mr. Gingrich says, that with 
proposed lobbying reform and 
and campaign finance legisla- 
tion, the Democrats tried to im- 
pose a “Stalinist” and "puni- 
tive” measure on them. 

• Corporations should be 
told, he says, that Republicans 
have already saved diem from 
new costs imposed by the gov- 
ernment “and look to' the future 
corporate savings if a Bliley 
were to replace Waxman." Thai 


Mr. Gingrich and Representa- 
tive Fields, a committee official 
said. The companies represent- 
ed at the lunch have business 
before Mr. Fields’s subcommit- 
tee and were invited by him. 

"There’s no question the av- 
erage telecommunications com- 
pany would like to see a change 
in Congress." he said. “They are 
also pragmatic and play both 
sides of the aisle. If change is 
what they want, the Republican 
Pany believes more in less regu- 
lation, an open marketplace.” 

Companies listed as attend- 
ing the luncheon included Bel! 
South; Comsat; DSC, a Texas- 
based maker of telecommunica- 
tions switching equipment; 
GTE; Nynex. and Pan-Ameri- 
can Satellite, a private company 
that has launched two commu- 
nications satellites. 

Fred Wertheimer, president 
of Common Cause, a seif-style 


Haitians 9 $79 Million Parachute 

Junta and 600 Backers Regain Access to Funds in US. 


ConfUtd by Our Staff From Dispatch a 

WASHINGTON — Presi- 
dent Bill Clinton formally lifted 
sanctions against Haiti on Fri- 
day, and Treasury Department 
officials said the country’s for- 
mer military leaders and their 
supporters will have access to at 
least $79 million in frozen U.S. 
bank accounts. 

The money is held in individ- 
ual accounts by the 600 Haitian 
military officers and supporters 
whose assets were frozen by the 
United States last spring, Trea- 
sury Department officials said. 
They said bank secrecy laws 
made it impossible to say how 
much belongs to Lieutenant 
General Raoul Cidras and his 
top deputy. Brigadier General 
Philippe Biamby, who left Haiti 
for P anama on Thursday. 

On Thursday night, Clinton 
administration officials de- 
fended the generosity shown U> 
Haiti’s leaders and their fam- 
ilies as an incidental but neces- 
sary cost of guaranteeing a 
peaceful transfer of power. 
They also said they were dis- 
closing the full amount of assis- 
tance the United States has pro- 
vided. 

“There is no bribe here, there 
is nothing hidden here, there 
are no hidden inducements," 
said W. Anthony Lake, the na- 
tional security adviser. “I am 
not apologetic in the slightest 
here. This is a success.” 

On Friday, on the eve of his 
return to his homeland, Haiti's 
exiled president, the Reverend 
Jean-Bertrand Aristide, re- 
ceived a warm White House 
farewell from President Clin- 
ton. who said a “new era of 
hope” is opening for Haiti with 
the restoration of democracy. 

With Father Aristide stand- 
ing at his side. Mr. Clinton said 
that Haitians are "moving from 
fear to freedom” now that Hai- 
ti’s military leaders have left 
and Father Aristide is about to 
return. 

The two leaders spoke to a 
White House gathering of con- 
gressional leaders and others 
who have supported Father Ar- 
istide's reinstatement during his 
three years in exile. 

Father Aristide thanked Mr. 
Clinton and others who helped 
.his cause, vowing to bring an 
end to the violence in his coun- 
try. In what has become a famil- 
iar refrain, he said, “No to vio- 
lence. no to vengeance, yes to 
reconciliation.” 


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After the ceremony, Mr. 
Clinton signed an executive or- 
der formally dismantling re- 
maining sanctions against Hai- 
ti, effective with Father 
Aristide’s return. 

Hundreds of thousands of 
Haitians are expected to take to 
the streets on Saturday, lieu- 
tenant General Henry Hugh 
Shelton, commander of the 


The Aristide camp chartered 
a jet for the return to Port-au- 
Prince. Father Aristide was to 
accompany Secretary of State 
Warren M. Christopher on one 
of two U.S. government planes 
making the trip. 

Father Aristide has less than 
16 months left on his term in 


is a reference to Representative citizens’ lobbying group, called 
Thomas J. Bliley Jr. of Vir gini a, the luncheon “a classic example 
the ranking Republican mem- of the abuses under the current 
ber on the House Energy and campaign system." He added: 
Commerce subcommittee on “It also may help explain why 
health and the environment, there’s nothing in the House 
chaired by Representative Hen- Republican ’Contract for 
ry A. Waxman, Democrat of America* on campaign finance 
California. reform.” 


FLOWER & STILL LIFE PAINTINGS 
OF THE 17th CENTURY 
14-29 OCTOBER 1994 


SSTSSTJ STSSSS ^nnto—ateforhis 

plans to take Father Aristide by „*"*"£*: , 

helicopter from the airport to His most .difficult task will be 

the presidential palace, rather l ? WU1 parliamentary confinna- , 
than allow a motorcade. D l on for a P 1 ™ minister, a goal j 

Some affluent Haitians wor- mat wot t come easy unless he 
tied that followers of Father ? lcks , someo , ne wth b, ™ d P°T i 
Aristide, who championed the buca l a PpeaI- (AP, N~iT} \ 


rights of the disenfranchised 
before the 1991 coup, would 
come after them seeking retri- 
bution. 

In a speech to representatives 
of the Organization of Ameri- 



Studenlls Killed in Vi enna 

The Associated Press 

VIENNA — One student 


can States in Washington on was killed and 14 were injured. 
Thursday, Father Aristide said, two seriously, when large 
"We feel hope, we Haitians. We chunks of masonry fell Thurs- 
are moving slowly but surely day from a balustrade or a ramp 
from misery to poverty with leading up lo Vienna Universi- 
dignity.” ty. 


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AMERICAN 

TOPICS 


Short Takes 


Milk’s New Advertising Pitch: 
It’s No Longer for Milquetoasts 


After a decade of pushing milk as the 
drink that does a body good, the dairy 
industry is hoping you'll indulge when 
you want to be bad. too. The Associated 
Press reports. 


The industry's new advertising cam- 
aim suggests a glass of milk with such 


paign suggests a glass of milk with such 
sinfully delicious food as syrup-soaked 
waffles, frosted brownies and powdered 
doughnuts. 

“These things make people think of 
milk,” said Tim Kane of the J. Walter 
Thompson agency, which created the 
ads. 

Milk consumption has been falling 
over the past decade. From 1983 through 
1992, the annual amount consumed per 
person in the United States dropped 14 
percent, from 18.2 gallons to 15.6. 


A committee of the International 
Union of Pure and Applied Chemistry has 
refused to name element No. 106 “sea- 
borgium” after Glenn T. Seaborg, its co- 
discoverer in 1974 and the winner of the 
1951 Nobel Prize in Chemistiy. Why the 
refusal? Because, the committee said. 
Mr. Seaborg was still alive. “It’s very 
disappointing,” said Mr. Seaborg, 81 
Albert Ghiorso, who helped discover 12 
dements, including element No. 106, 
said: “Saying that we cannot name ele- 
ments after people who are alive is ridic- 
ulous. I named einsteinium and fermium 
numbers 99 and 100, in 1952.” when 
Albert Einstein and Enrico Fermi were 
both still alive. He said the decision 
would be appealed. 


will do anything to destroy it. but if it 
isn’t, ivy becomes an avenue to destroy it 
further.” Experts note that particularly 
dense growths of ivy trap moisture 
against the wall. But the consensus ap- 
pears to be that it takes decades of dense 
ivy growing on very ancient walls to 
reach a dangerous state. 


Ivan the gorilla has been flown to the 
Atlanta zoo after living alone since babv- 
hood — for 27 years — in a glass cage in 
a Tacoma, Washington, mall. .Animal 
rights activists had protested Ivan's 
lengthy isolation. In Atlanta, he will be 
slowly introduced to the zoo's 1 7 other 
gorillas. 


The new commercials began running 
>o weeks azo. Two breakfast-oriented 


Ground was broken in Washington this 
past week for a memorial to {resident 
Franklin D. Roosevelt, who died nearly 
50 years ago. Mr. Roosevelt had request- 
ed nothing larger than the desk-sized 
stone slab that stands in front of the 
National Archives building. The new 
memorial will cover seven and a half 
acres (about three hectares) and cost $50 
million, of which 80 percent will come 


Harriet Hilliard Nelson, co-star of the 
long- running television series of the 
1950s and '60s “Ozzie and Harriet," died 
OcL 2 at 85. Her granddaughter, Tracy 
Nelson, recalls her three rules about 
show* business: “One, you are entertain- 
ing people. Two. the show will close. 
Three, always take off your makeup be- 
fore you go to bed." 


two weeks ago. Two breakfast-oriented 
spots show milk being poured into a 
glass while bread pops from a toaster, 
powdered sugar doughnuts tumble from 
a bag and syrup oozes across a waffle. 

One dinner ad shows a steaming plate 
of macaroni and a wine glass filled with 
milk. Another shows milk as part of a 
meal of steak, corn on the cob and a 
baked potato. 


from the taxpayers. Mr. Roosevelt is 
buried at the family estate in Hyde Park, 


buried at the family estate in Hyde Park, 
New York. 


Is tbe ivy that so picturesquely covers 
college walls a threat to those walls? 
“There are two schools of thought,” says 
Dora Galitsky, a botanist at the New 
York Botanical Garden in the Bronx. 
“The one we quote says that if the mortar 
is in good condition, we don’t think ivy 


Law firms usually hare starchy and 
dignified names — Cadwalader, Wicker- 
sham and Taft, for example. But a few 
firms are known to their members, their 
colleagues and even to some clients by 
more amusing handles. The New York 
Times notes. San Francisco's Morrison 
& Foerster firm is commonly called 
MoFo, and O’Melveny & Myers in Los 
Angeles is often referred to as' Oh Me Oh 
My. New York’s Weil, Gotshal & 
Manges is referred to by competitors as 
“We’ll Getcha and Mangle Ya." 

Intcmatioruil Herald Tribune. 


BOOKS 


THE HOT ZONE 


By Richard Preston. 300 pages. 
$21. Random House. 


Reviewed by 
Michiko Kakutani 


'HE scenes in “The Hot 
Zone,” a riveting new non- 


fiction thriller by Richard Pres- 
ton. will remind you of things 


ton, w01 remind you of things 
you’ve seen in the movies: faces 
and bodies liquefying into 
bloody pulps, like the Nazis 
who were zapped by the Ark’s 
magical powers in “Raiders of 
the Lost Ark.” 

The scary part is that these 
scenes aren’t the invention of an 
imaginative screenwriter or 
novelist. They are the product 


of months of reporting by the 
New Yorker contributor Rich- 
ard Preston, who set out to ten 
of the deadly new viruses that 
appear to be emerging from Af- 
rica’s rain forests, and the men 
and women who are trying to 
contain them before they can 
spread, like AIDS, into the hu- 
man population at large. 


Having immersed himself in 
the world of virus hunters and 
biohazard specialists, Preston 
acts as the reader’s guide to this 
mysterious realm, explicating 
its technology and expertise, 
even as he’s conjuring up its 
dangers. By combining his stor- 
ytelling skills with his breezy 
command of technical lan- 
guage, be is able to impart to 
the reader a fair amount of in- 
formation and an overwhelm- 
ing sense of dread. 

We are told that “extreme 
amplification*' means a virus 
has multiplied so rapidly that it 
has effectively taken over its 
host. We are told that filovir- 
uses like the deadly Ebola and 
Marburg can cause their vic- 
tims to “crash and bleed out”: 
(hat is. to die of shock, with 
“profuse hemorrhages from the 
orifices of the body.” 

There is the story of a French 
expatriate who went on a hiking 
trip to Mount Elgon in Kenya 
in 1980, wandered into the mys- 
terious Kitum Cave and. a week 
later, came down with a terrible 
headache. 


By the time he reached a hos- 
pital, he was vomiting large 
amounts of blood and bleeding 
from his bowels. He was post- 
humously found to have had 
the Marburg virus, an African 
organism tha t “affects h umans 
somewhat like nuclear radia- 
tion, damaging vir tuall y all of 
the tissues in their bodies.” 


A form of the Ebola virus 
that swept through at least 55 
villages in Zaire in 1976 is a 
relative of the Marburg virus, 
and even deadlier. Preston says. 


The longest and most dra- 
matic section of “The Hot 
Zone” deals with a suspected 
incidence of Ebola that broke 
out more than a decade later 
among a group of imported, 
monkeys in a Washington sub- 
urb, and the all-out efforts of 
workers at the United Suites 
Army Medical Research Insti- 
tute of Infectious Diseases at 
Fort Detrick in Maryland to 
prevent its spread. 


The bulk of this book, how- 
ever, is happily free of such sen- 
timentality. and it makes for 
fast, swashbuckling reading, 
not to mention bad dreams. 


In relating this story. Preston 
displays a tendency to dwell. 


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


The IHT/Delta Air Lines 
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his opinion, make it desirable to cancel the 
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A.DEHAAIRLINES 


iop-il urn tbi my wi Fit- 


Stressed Out, 
U.S. Women 
Blame Jobs 


The A ssociaied Press 

WASHINGTON — Ameri- 
ca's working women are ex- 
hausted, with stress and low- 
pay the most frequently cited 
job-related problems, accord- 
ing to the results of a govern- 
ment survey released Friday. 

Tbe survey, distributed by 
businesses, unions, newspapers, 
ma gazine s and co mmuni ty ser- 
vice organizations, sought 
women’s views on job satisfac- 
tion, pay. benefits and opportu- 
nities for advancement. More 
than 250,000 women respond- 
ed. A parallel scientific survey 
of 1.200 women was conducted 
for c omp arison. 

Stress was the problem most 
mentioned, cited by 60 percent 
of the respondents. Nearly 
three-quarters of women In 
their 40s who hold professional 
and m anagem ent jobs listed it 

as their top problem, as did 
more than two-thirds of single 
working mothers. 


W & 


Women complained of being 
aid less than their male coun- 


almost pruriently, on the horri- 
ble effects of tbe virus, as well 
as a penchant for portentous 
details that turn out to be red 
herrings. He concludes the 
book with unsubstantiated 
speculation that viruses like 
Ebola are evidence that “the 
earth is mo unting an immun e 
response against the human 
species.” 


paid less than their male coun- 
terparts and of having fewer op- 
portunities for advancement. 

The Labor Department said 
women typically earn 71 cents 
for every dollar earned by a 
man. The problem is even worse 
for women from racial and eth- 
nic minority groups. Black 
women earn 63 cents for every 
doDar the average man is paid, 
while Hispanic women are paid 
on average 54 cents. 

The report said most women 
were “still segregated in low- 
paying, traditionally female 
jobs in clerical, sales and service 
occupations.” 


Mm S-wvThe wwwrt 

Paul Sereoo at tbe University of Chicago with a model of tbe theropod found in Niger. 


2 New Species of Dinosaur Discovered 


CHICAGO — Two new dinosaur species 
have been discovered in the Sahara, research- 
ers announced. The discovery sheds new light 
on the kinds of dinosaurs that roamed the 


globe before the continents drifted apart and 
indicates that present-day Africa was con- 
nected to Europe by a land bridge at Gibral- 
tar longer than had been suspected, they said. 


At a news conference Thursday, Paul Sere- 
no, a paleontologist at the University or Chi- 
cago, unveiled a reconstruction of one of the 


two previously unknown species, found in 
Niger — a theropod standing 7 feet (2 meters) 
tall at the hip and 27 feet long from head to 
tail. The second species, as yet unnamed and 
also found in Niger, wets a plant-eating, long- 
necked sanrppod stretching 55 feet. 

The African dinosaurs bear a dose resem- 
blance to more ancient species from North 
America. Asia and Europe as well as Antarc- 
tica, indi cating that these groups had evolved 
and spread before the Northern and Southern 
Hemisphere continents completely broke 
apart. 


“It is be ginnin g to react to 
the human parasite,” he writes, 
“the flooding infection of peo- 
ple. the dead spots of concrete 
all over the planet, the cancer- 
ous rot outs in Europe. Japan 
and die United States, thick 
with replicating primates, the 
colonies enlarging and spread- 
ing and threatening to shock the 
biosphere with mass extinc- 
tions.” 


Iris Adrian, Movies’ Brassy Blonde, Dies 


York Ttmts Service 


Iris Adrian. 81, an actress 
who played the brassy blonde in 
scores of films of the 1930s and 
’40s. has died at her home in 
Hollywood. 

The cause of death, which oc- 
curred Sept. 17. was complica- 
tions from injuries she suffered 
during the January Northridge 
earthquake, according to a 
friend. 

Many of Miss Adrian’s roles 
were variations on one charac- 
ter: the gum-chewing, wise- 
cracking blonde who showed up 
as a waitress, a nightclub floozy 
or gangster’s girlfriend. Among 
the nearly 150 films she made 
were “Rumba.” her first full- 
length movie in 1935. “The 
Road to Zanzibar” (1941). the 
second of Bob Hope’s and Bing 
Crosby’s “Road” movies, “His 
Butler’s Sister” (1943) with De- 
anna Durbin, and “The Woman 
in the Window.” a 1944 thriller 
with Edward G. Robinson. 

Born in Los Angeles as Iris 


Adrian Hosletter, she began her 
career as a dancer in the Zieg- 
feld Follies of 1951, two yean 
after winning a beauty contest. 
In the 1950s, as movie roles 
dwindled, she began making 
television commercials. 

But her film career revived in 
the late 1960s with roles in films 
such as “The Odd Couple." 
“The Love Bug.” “The Apple 
Dumpling Gang” and “Herbie 
Goes Bananas.” She also ap- 
peared in many television sit- 
coms. including “Get Smart” 
and “The Ted Knight Show.” 
Joan Kahn, 80, Book Editor 
Known for Suspense Imprint 

New York Times Semtr 

NEW YORK — Joan Kahn. 
80, a book editor whose imprint 
was a hallmark of suspense sto- 
ries for many years, died on 
Tuesday at Mount Sinai Medi- 
cal Crater in Manhattan after a 
brief illness, her family said. 

Miss Kahn edited hundreds 
of suspense novels, and her im- 


print, “A Joan Kahn Book,” 
represented excellence for dis- 
criminating mystery lovers. She 
started the Harper Novels of 
Suspense during her 34-year ca- 
reer at Harper & Row. and also 
edited books for Ticknor & 
Fields, Dutton and St Martin’s 
Press, from which she retired in 
1989. 

Through the years, she signed 
such writers as Dorothy L. Say- 
ers. Dick Francis, Patricia 
Highsmith, Mi chad Gilbert, 
Julian Symons and John Crea- 
sy 

Frances Cagney. 95, wife of 
the late actor Jimmy Cagney, 
died Monday in Stanford vilJe, 
New York. 

Barton A. Cumuangs, 80. a 
leading force in the U.S. adver- 
tising industry, died Sunday of 
heart and lung disease in 
Princeton, New Jersey. 

Chaim Raphael, 86, a British 
thriller writer and Jewish schol- 
ar who wrote under the pen 


name Jocelyn Davcy, has hed 
in London. - ■ 

E fj) Suzuki, 81. a footer 
chairman of Japan's Federation 
of Employers’ Associations 
(Nikkeiren), died of hearEfcil- 
ure Tuesday in Tokyo. 

Virginia E. Montes, SO, ft for- 
mer national secretary andlob-, 
byist for the National Organi- 
zation for Wtrinen, died 
Thursday of astroke in Atlanta. 


Attackers Kill 7 


In Squatter Camp 


T6« Associated Press 

DURBAN, South Africa — 
Unknown attackers shot and 
killed seven men, some of them 
bound with wire, in a squatter 
settlement near Durban over- 
night, the police said Friday. 

The motive for the attack in 
the Bhambayi settlement, in the 
eastern province of KwaZulu- 
Natal, was unknown. 


RELIGIOUS SERVICES 


AMSTERDAM 

CROSSROADS INTERNATIONAL CHUR- 
CH fcfler d enominationBl & Evaraefica) Suv 
day Service 1<HX) am. & 1130 sun/ Kids 
VKefaome. De Cueeretaaf 3. S. Amsterdam 
Wo. 02940-1 531 8 or 02503-4 1399, 

KIEV 

INTERNATIONAL CHRISTIAN ASSBCLY 


THE EPISCOPAL CHURCHES 
OF EUROPE (Anglican) 


BUCHAREST 


_ iL An tnasruanguage, 
tiorei Fefcjw^ro, Stray Service 1030 am. 
Kiev Council of Trade Unions BuMng. 16 
KhrescbaWt Slreef, Pastor Eldon Brown 
(7044) 244-3376 Or 3502. 


PARIS and SUBURBS 


EMMANUEL BAPTIST CHURCH. 56 Rue 
des Bons- Rabins. RueH-Malmaison. An 


Evangetcal church far toe Englsh specking 
community located in the western 
subufa&SS 9:45; Worship: 10:45. CMctan's 
Chunto and Nurcery. Youth ministries Dr. B.C. 
Thomas, pastor. Call 47.51.29.63 or 
47.49.1 529 tor Wormafen. 


PARIS and SUBURBS 

THE AMERICAN CATHEDRAL OF THE HO- 
LY TRINTTY. Sat. 9 ft 11 am. 10:45 am 
Sunday School hr ettirtan and Nmsey cam. 
Third Sunday 5 pm Evensong. 23, avenue 
GecrgaV, Paris 7500a TeU 330 47201792. 
Metro: George V or Alma Marceau. 

FLORENCE 

ST. JANES CHURCH. Sun. 9 am Rfte I & 
1 1 am. Rite II. Via Bernardo RuceJlat 9, 
50123. Rorenoe, Italy. TeU 39552944 17. 

FRANKFURT 

CHURCH OF CHRIST THE KING (Epfeco- 
paYAn^an) Sin. Holy Communion 9 & 11 
am Sundw School and Nosey 10A5 am. 
SetasfenRhz St 22. 60323 ftankkit, Ger- 
many, 111. 2. 3 Miquel-AQee. Tat 49/69 
550184. 


INTERNATIONAL BAPTIST CHURCH. 
Skada Popa Rueu 22. 300 pm Contact Pas- 
tor Mka Kempar.TeL 312 3860- 


WUPPERTAL 

International Baptist Chuch. Engfeh. Ger- 


BUDAPEST 

WTBWATONAL BAPTIST CHURCH, 
meets h Mores Zsgmcnd GhrazhnC To- 


man, Persian. Worship 1030 ijtu Seferetr. 
21, Wuppertal - Ebotekl Al denomki atiuw 
welcome. Hans-Dlalw Freund, pastor. 
TeL- 0202/4898384. 


rckveszii 48-54, Smdays. 1QO0 Coffee Fel- 
lowship, 1030 Worship. Trtco Bus 11 from 


lcv»sMp, 1030 Worship. T*aBus11 from 
BaOwany tar. Other meefrigs, cal Pastor 
Bob Zbrebn. TeL 290-3932. 

BULGARIA 

INTERNATIONAL BAPTIST CHURCH. 
World Trade Center, 36. Dratoan Tzantov 
BJvd. Worship 1130 James Duke. Pastor. 
Tel: 704367. 


ZURICH - SWITZERLAND 

INTERNATIONAL BAPTIST CHURCH of 
WSdenswi (ZDdch), Honenbwa sn. 4, 6820 
Wadenswi, Woofrp Services Sunday mor- 
nings 11 £0. TeL 1-7242862. 


ASSOC OF NTL CHURCHES 

IN EUROPE &MJDEA5T 


HOPE INTERNATIONAL CHURCH (Evan- 
geScaD. Sun. 930 am Hotel Orion Metro 1 : 
Esplanade de La DGfenite. TeL 47.7353.54 
or 47.75.1 427. 


CEUE/HANNOVER 

INTERNATIONAL BAPTIST CHURCH. 
Windmufen Stases 45. Cela 1300 Worship. 
1400 BMe Study. Paalor Wan Crept** Pit 
(05141)46416. 


BERLIN 

AMERICAN CHURCH IN SERUM, cor. ot 
CtayAtee ft Potedamer Str, S3. 930 am, 
Vltorshfi 11 wi TeL* 0008132021. 


GENEVA 


THE SCOTS KIRK (PRESBYTERIAN) 17. 
rue Bayard. 75008 Pais. Metro H3 Rocse- 
veL FSrniy service ft Sunday School A 1030 
a.m. every Sim day. All welcome. 
Fa i nto 7 na ti on 48 78 47 94, 


EMMANUEL CHURCH 1st 3rd ft S»» Suv 
10 am Eucharist & 2nd & 4th Sun. Morning 
Prayer. 3 rue de Manthoux, 1201 Geneva, 
SwteBrtand TeL- 41/22 732 80 7a 


MUNICH 


DARMSTADT 

DARMSTAD77EBERSTAPT BAPTIST MIS- 
SION. aue study ft Wash*) Savfay 1030 
am. Statmission Dn-EbentadL Bueadietafc. 
22, BUe atedy 930, worship 10:45. Pastor 
Jfcn W8fcb.TeL 061S5ft0092ia 


BRUSSELS 

THE INTERNATIONAL PROTESTANT 
CHJRCH OF BRUSSELS. Sunday Srfuoi 
930 am and Qirch 10s45 am Kattenberg, 
19 (at the Inf. School). TeL: 673.C5.8L 
Bus 95. Tram 94. 


COPENHAGEN 


SAINT JOSEPH’S CHURCH (Roman 
Ca*x*c}. Masses Sunday. 945 am, 11:00 
am, 12:15 pm, and 630 pm SaLrday: 
11 :00 am. and 630 pm Monday-Friday. 
830 am 50. avenue Hcche. Paris 8ft. Tab 
42273856. Mebcc Charts de QaiAa - Bote. 


THE CHURCH OF THE ASC&SON. Suri 
1 1:45 am. Holy Eucharist and Sunday 
School. Nusery Cam provided Seybotharas- 
se 4. 81545 Nkrtdi (Hartatiiingt. Germany. 
TeL 4989 648185i 


DUSSELDORF 

INTERNATIONAL BAPTIST CHURCH En- 
gfeh. Worship and Chldren's Church Suv 


INTERNATIONAL CHURCH of Copenha- 
gen. 27 Farvargade. Varov, near R&tus. 
Study 10:15 & WorahlD 11-.3T 


. i at 1230 pm Mooti ng temperariy a tfie 
Evangefistfi - FraMrcfticfte G emetate h Ra- 
ttnaerv, Germany (Kafeerberg llj. Friendly 
Felowslvx AS denorrinafons welcome. For 
ftrtw Homotion cal the pester. Dr. WJ. De 
Lay, TeL 021 1-400 157. 


Study 10;15 & Worship' 11:30. Tel.: 
31824785. 


MUNICH 

INTStNATIONAL COMMUNITY CHINCH. 
Evangefcd Bfcte Befevna. services in Eng- 
sh 430pm. Sutiayg alErfiuberetr. 10 (02 
Theresterstr.) (089)650-8617. 

SALZBURG 

BEREAN BffiLE CHURCH h Berea They 
searched scrfpnres d aZ/ Ads 17:11. 

EvengefcaJ EngWi service at 1030 am w*h 
Pastor David fcbctooa Franz Josef Stasse 
23. RrrtbcaMS (0)682455553 
TOKYO 

ST. PAUL INTERNATIONAL LUTHERAN 
CHURCH, near lldabashi Sin. TeL: 3261- 
3740. Worship Service: 930 am Sundays. 
TOKYO UNION CHURCH, near Omotesan- 
do subway sta. Tel. 340D0047, Worehp 
services Sunday 830 ft 1100 am. SS at 
9*5 am. 

USA 


ST. PAUL’S WITHIN- TH E-WALLS, Sun. 
830 am Holy Eucharist Rte h 1030 am. 
Choral Eucharist Rile II; 1030 am Chuch 
School for ehidren ft Nursery care provided: 1 
pm parish Eucharist Vb Pfepoi SB, 00184 

ROTO. ToL- 395 488 3339 or 39*8 4743560. 


FRANKFURT 


B RUS5ELS/W ATERLOO 

ALL SANTS' CHURCH 1st Sin. 9 ft 1 in 5 
am Hcfy Eucharist w4h Ctidran's Chapel at 
1in5.AlofwSundays:1l:15am.HcilyEii- 
chans and Sunday School 563 Oosede de 
LcuvariOhah, Begun. TeL 33239*3555. 

WIESBADEN 


FRANKFURT 

INTERNATIONAL CHRISTIAN FEU.CW- 
SHIP Evangelach-Fteicichfiche Gemeinde, 
Sodenerw. 11- 18,636 0 Bad Hombug, pho- 
ne/Fax: 0617862728 serving tie Frankfurt 
and Taunua areas. Gennany. Sunday wor- 
ship 09*5. rusary + Sundsyechool 1030, 
women's bbto stales. Housegroups - Sun- 
day + Wednesday 193a Pastor M. Levey, 
member European Baptist Convention. De- 
dareHfegbry amongst tfie nations." 


day School 930, noraho 
999478 or 512SS2. 


GENEVA 

EV. LUTHERAN CHURCH of Geneva, 20 

y? X?%P e ’r- Si T da y worahl P 930- in Gw 
man 11 30 n English. Tet (022)310-5089. 

JERUSALEM 

City. Murtstan Rd. English worship Sun. 9 

dm Al are wetoma. TeL (02)281 -049. - 

LONDON 


TH E CHUR CH OF ST. AUGUSTINE OF 
CANTERBURY, Sun. 10 am Farniy Eucha- 
rist, Frankfurter Strasse 3. Wie sbaden, Ger- 
many. TeL: 4961 1 3066.74. 


X you would B«ea fee BUa course by mak 
please contact: LTGLSE de CHRIST. P -O. 
Br*5l3.Seutm, Wana 47881 USA 


EUROPEAN 
BAPTIST CONVBJnON 


BETHEL INTERNATIONAL BAPTIST 
CHURCH, Am Dachsberg 82, ftarkfurt aJuL 
Sunday worship 1130 am and 630 pm. Or. 
Thomas W. HI, pastor. TeL 069-54955& 

HEIDELBERG 

GRACE INTERNATIONAL BAPTIST 
CHURCH, Industrie Sir 11, 6902 Sandw 
sea Bi* study 09*5, Wcrchfe two. pastor 
Pad HenttauTeL 0622*62295. 


AME R| CAN CHURCH in London 79 Tot- 

WL „ SS al ,0 -00 a-™-- 


w ™s. Worchto 
STOCKHOLM 


VIENNA 


VIENNA CHRSTWJ CENTER; A CHARIS- 
MATIC FELLOWSHIP FOR VIENNA'S IN- 
TERNATIONAL COMMUNITY. ‘ Engfeh 
Language * Tran&denomtoatonaL meets at 
Habq&sss 17. 1070 Vienna. 630 pm. Every 
Sunday. EVERYONE IS WELCOME For 
more mrmaficn cat 43-1-318-7410. 


IMITAR1AN UNIVERSAUSTS 


BARCELONA: (34) 3-314-9154. 
BRUSSELS: Tel.: (32) 2-260 0226- 
or (32) 2-762-4293 meets 3rd Sun. of mortiv 
QEWVABERN: (41) 3KS2 3721 or 
(41)52-232-0051 

HE1DEUERQ: (49) 6221-4721 16 
MUNICH: (49) 821-47-24 88 or (49) 89-28- 
2326 meere 4fti Sunday each mo. d 2 pm. 
Peace Church. Frauertotetr. 5. (Ari*. 
NURENBERGs (49) 911-46-7307. 
NETHERLANDS (31)71.14-0986. 

PARES: (33) 1-42779877, 

UK (44) 81-891-0719. 

ME58ADBti{49)611 71-9461. 


BARCELONA 

FAITH FELLOWSHIP INTERNATIONAL 
meets M M0 am, Bcna Ncwa Bapfel Clw- 
ch Cemr de la Out* de Beteguer 40 Pastor 
Lance Borden. Ph. 439-5059, 

BERLIN 

INTERNATIONAL BAPTIST CHURCH. 
BERUN. RdBwrtwg Str. 13, (Sredto). BUs 
Sudy 1045, w«hp at 12to eaffi Sunday. 
Cherfee A. Warlord. Pastor. TPL 030-774- 
4670. 

bonn/k^in 

TVE WTERWtTIONAL BAPTIST CFflJRCH 
OFBONN«6ln. Rherau Stasse 9. KDh. 
Worshp 1 ao p.m. CaMn Hogue, Pastor. 
TbL(02236) 47IR1. 


HOLLAND 

TRINITY BAPTIST S£. 930. Wfflship 1030. 
nursery, warm leRowship. Meets at 
Btoemcampiaan 54 in Waasenaar. 

TeL 01751-78024. 


awdish. Engfeh, or Korean, 11:00 

15 18 25 x 727 fbr me$ 


MADRID 


BRATISLAVA 

Bbte 9My h Endsh. Pafedy I 
ch Zmskeho 2 1830-1745. Cc 
Jccsp KutacA. Tet 31 6779 


INMANUEL BAPTIST, MADRID. HBTNAN- 
DEZ 0E TEJADA, 4. ENGLISH SBlVICES 

11 am, 7pm TeL 407-4347 or 3Q2-3017. 

MOSCOW 

NTERNATK3NAL BAPTIST FBJLOWSHIP 
Moetng 1100: Wno Certer BuAfrig 15 Dm* 
DmdeHiovticaya UL 5h Hoor, Hal 6, Metro 
Station Baniactoaya Pastor Brad Stanw Ph. 

(095) 1*3393. 

MUNICH 


TIRANE . '> 

EJTERNATIONAL PROTESTANT ASSSf - 
w-Y. nerdemmnetionN ft EvangeicaL sv- * 
«eK Sui. 1M0 anu.&OOpm.V^d Sfffc, 
Aiyrf. Tel/Fax 


BREMEN 

WTBTNATIONAL BAPTIST CHURCH (En- 
9«sh language} meets at EvangetekfiB*®- 
chfeh Kreuzqemetode, Hohenlohestrasse 
HemtanrvBosaSir. (around the comer tom 
the Bahnfof) Sunday vrorehip 17:00 Ernest 
D. Wafcer, pastor. Tfil 04791-12877. 


INTERNATIONAL BAPTIST CHURCH OF 

MUNICH. Hatred. 9 En^fcsh Language Ser- 
vtojgL BUbj sto^OT^oniiapSenrice 
170a PartOi'5 phonee 8908534. 


PRAGUE 


™«s * iho 

Czech Bapfet Church Vtoohradsha # 68 
Prague 3. At metre stop Mioz Podebrad 
Sunday a.m. HflO Pastor: Bob Ford 


Sunday a.m. ' 
(02)3117974. • 


VIENNA 

WARSAW - ca.,1 

ZURICH 

PROTESTANT 






















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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 15-16, 1994 


P«ge5 


SPONSORED PAGE 


SPONSORED PAGE 


I 


presents 


A GASTRONOMIC EXPERIENCE 

FROM THE FOUR CORNERS OF THE WORLD 


*1 

£ 


f m EW LOOK 
« / w The original 

ra / Hediard 
W / shop was inspired 

m I by the 19th-century 

/ romance with exot- 
m / ic spices, teas, cof- 
■I fees and fruits from 
. Vr the four corners of 
¥ the world. 

Scion of a long line of 
saddle makers, Ferdi- 
nand H&fiard decided to follow 
his nose instead of the family 
trade. He brought back from Asia, 
Brazil, North Africa, Spain and 
the Antilles such luxuries as cin- 
namon, cloves, pineapples, man- 
goes, litchis, guavas and mango- 
steens. From these rare flavors he 
concocted fine jams and crystal- 
lized fruits to be sold in his shop 
on Paris’s bustling Place de la 
Madeleine. 

That was 140 years ago, and the 
exotic is still to be found at H6di- 
ard in the same location, where 
sidewalk displays of mysterious 
fruits with names like combabas, 
ignam and pitahaya attract 
adventurous gourmets. 

P -\ XOT1C AND ACCESSIBLE 

Today, however, Hediard 
■ is much more than a temple 
of exoticism. Over the 
- years, it has gained a repu- 
tation as a purveyor of 
the finest foods and bev- 
/ erages from all over the 
^ world. That includes the 


delicacies made according to Fer- 
dinand Hddiard’s recipes (the 
original manuscript of his recipes 
was recently discovered, and the 
recipes handed down over the 
generations and still in use were 
found to be completely faithful to 
them). But it also includes other 
products carefully selected by H£- 
diard for their superior quality. 
When Hediard recently decided "to 
cany a line of Mediterranean spe- 
cialties, for example, a 1 0-person 
committee tasted some 800 prod- 
ucts in order to choose the very 
best 

H&dard is celebrating its 140th 
birthday with the grand opening 
of its completely renovated shop, 
with the addition of a natural ex- 
tension: a restaurant where cus- 
tomers can sample cuisine made 
with the products sold in its up- 
scale grocery store. “The restau- 
rant is the ambassador of the food 
sho^,” says Jean-Louis Masurel, 
president of H&hard. “People can 
discover different products in the 
shop and continue upstairs to the 
restaurant and find out what dish- 
es can be made from them.” 

The concept chosen with archi- 
tect Laurent Gire for the new H6- 
diard is a sort of souk, a market- 
place where shoppers can wander 
at liberty among the sensual de- 
lights of fruits and vegetables, 
charcuterie, freshly baked bread 
and pastries, cheeses, prepared 
dishes for take-out, caviar and 


smoked fish, wines, spices, teas 
and coffees. The central area is a 
covered market with light pouring 
in from the glass ceiling. The mar- 
ketplace is flanked by a “grand 
stairway," which leads up to fur- 
ther shops, a bookstore stocked 
with works on food and wine, and 
the restaurant From the second- 
floor balcony, customers can look 


ceived as a meeting place. At its 
center is a horseshoe-shaped bar 
where customers can meet friends 
for a drink or have a quick meal. 
The idea is to provide a service 
that is unusual in Paris. 

In the Hddiard restaurant cus- 
tomers can have a bite to eat at 
any hour from 7:30 A.M. to 12 
A_M. Hediard ’s famous teas are 



down on the colorful, fragrant 
bustle of the marketplace. 

In keeping with the Hediard 
theme, warm exotic woods have 
been used for walls and shelving. 
Matt-finished metal railings and 
appointments add a handsome 
modem touch. 

The restaurant has been con- 


served at any time of the day, but 
there is a traditional English tea 
service in the late afternoon. 

In another deviation from the 
formal style of many Paris restau- 
rants, Hediard is encouraging a 
convivial, friendly atmosphere, 
where customers can chat with the 
staff about the ingredients. “This 


is a new concept in m j 

France,” says Mr. ■ | 

Gire. “It is a real H ' 

restaurant within a B . 

shop, not just a H / 

? lace for a snack. H / 

he restaurant and 1/ 

the shop are inti- H f 

mately connected.” y 

The restaurant's at- 
mosphere is like that of a tradi- 
tional French bistro. 

Charlotte Seydoux de Clau- 
sonne, the restaurant's hostess, 
was sent to Monaco. New York. 
Los Angeles, Tokyo and other 
cities in Asia to discover how 
restaurants are run abroad, “not to 
duplicate their style, but to borrow 
their best characteristics,” she 
says. “Our first concern is friend- 
liness. We want people to feel 
welcome. Women should feel 
comfortable eating alone here. 
There will be newspapers to read, 
and customers can eat quickly or 
take as much time as they want.” 

The restaurant staff consists of 
young people of different nation- 
alities so that H£diard's interna- 
tional clientele will feel at home. 
Naturally, the cuisine itself is in- 
ternational as well. The kitchen is 
supervised by Jean-Philippe 
Zahm. director of gastronomy, 
whose impressive credentials in- 
clude time spent with renowned 
French chef Alain Chapel and j 
four years as professor at the fa- ' 
mous Tsuji School in Tokyo. 


I oui.i* «:mmm:s 

y i The restaurant's 
| I young chef, FnSderic 
L / Vardon, succeeded 
ft / Zahm at Alain Chapel. 
A i Prestige consulting is 
provided by Alain Du- 
W cassc. chef of the Michelin 
f three-star restaurant Le 
Louis XV in Monte Carlo's 
Hotel de Paris. 

The menu revolves around 
themes, such as Mediterranean or 
other celebrated world cuisines, 
that “express the flavors" of the 
products sold in the shop. Veg- 
etable platters, another rarity in 
France, are also available. Prices 
are reasonable, ranging from 60 
francs to around 120 francs for a 
main course. 

This would not be a French 
restaurant without fine wines, of 
course. Luckily, Hediard has one 
of the largest wine cellars in Paris, 
ranging from a table wine priced 
at 16 francs to an 1895 Chateau 
d’Yquem at 38.000 francs. Guid- 
ing the selection is the English 
wine expert Steven 
Spurrier. 

"V ELECTED WINES 

T The wine selection 
|ft * forms the core of 
the shop. Staff can 
inform shoppers on 
y3± a w bich vintage to 

[ v ■ choose to go with 

V W their purchases. 

V ^ Heidi Ellison 



TO ( I LGHIUTi; ITS 110 l H V\M\ ERSAKY. 
II EDI Mil) PRESENTS 
THESE CLASSIC W INES 


|/h . • 






-j?: 




La Vieille Ferme 
1992 Jean-JPeerjre 
et Francois 
Perrin 

This deep colored, finely structured 
wine, from the best vineyards around 
the Mont Ventoux, well merits its in- 
ternational reputati on. . 




Gevrey-Cbambertin 
Heduxd 1999 
CotttnFreres 

Ann and and Louis 
Coffin, based in Nuits-Saint-Geoiges, 
are committed to quality above 
everything. Their Gevrey-Cham- 
bextin is superb. 


Majrgacx Hediard 
1988 Domaines 
Iajqen Lurton 

What better source 
than the owner of Chateaux Brane- 
Canlenac and Durfort-Vfvens for this 
magnificent wine from one of the 
great vintages of the 1980s. 


} - S-Vtiaj'r 1 --twA: 


Bourgogne 
"Vieiujes Vkjnes 
1990 Antonin 


Pouilly-Fume “La 


Moynerie” 1992, 


Michel Redde 


etFels 


4 

. .t'x' 

•5S 


m.- 




The old Pinot Noir vines, whose 
grapes make this rounded, velvety 
Burgundy, surpassed themselves in 
1990, the best vintage since 1961. 


Medoc Beward 
1989 Joanne 
et Cm 

Deep in color, with 
the classic red fruit aromas and hint 
of cedar wood, this wine could match 
those from the most prestigious 
chateaux of the region. 


Chateau Phelan 
Segur/090 
Saint-Estephe 

Since M. Xavier Gar- 
dimer bought the Chateau in 1985, 
Phelan-Segur has rivaled, even sur- 
passed, wines from the neighboring 
Cm Classes. 


















Lady Langoa 1992 
Saint-Juuen 

Anthony Barton, 
whose family has 
owned Chateaux L^ovflJe and E^an- 
goa-Barton since 1821. personally 
guarantees the high quality of this 
lovely wine. 


mmmmm 


Chateau Malaruc- 
Lagraviere 
1992 Cru Classe 
Pkssac-Leognan 

Always one of the finest red Graves, 
die recent acquisition by Champagne 
Laurent-Penier has raised this wine 
to further heights. 




my 


Chateau 
Cantenac-Brown 
1992 Cru Classe 
Margaux 

Finally realizing its potential under 
the direction of Jean-Michel Cazes 
and AXA-Millesimes, the supple 
1992 is a triumph for die vintage. 




Chateau de Beau- 
castel 1993 Jean- 
Pierre ett Fran rots 




* G'>M • i -■ »; F.i-ui 


CaSTELGIQCONDO 

Brunello DI * 

Montalono 1988 
Marchesi de ^ 

Frescobauh »’ 

A magnificent vintage produced by " 
one of Tuscany's most illustrious 
wine-making families. • , r . 


|l. , ) r; 11 

JJfJ ♦ 3C1 1 0 

i 1 ) *»T 



MBU i 






Chardonnay 


Reserve 1993 


Pipers Brook 


Vineyard 


III* ''-Ml ■ ■n'-'ii- 


BMHM 


“REWARD” 

was produced in Us entirety by the Advertising Department 
of the International Herald Tribune. 

WRITER: Heidi Ellison is a free-lance writer basal m Paris. 

Program director: Bill Mahder. 



























Page 6 


INTERNATIONAL HERALD TRIIH'NK. S ATI i RDAY -SUN DAY. OCTOBER 15-16, 1994 


Soldier’s Death Clouds Nobel 


RUSSIA: 

Banker Resigns 


l ifigf 


Peres, Rabin and Arafat Win Peace Award 


Continued from Page 1 


- iggv 

Wk u t 


By Fred Barbash 

Washington Past Service 

OSLO — The dawning of “peace and coop- 
eration” among Israelis and Palestinians was 
celebrated Friday morning with the an- 
nouncement of the Nobel Peace Prize here, 
but by nightfall the return to violence in Israel 
cast a bittersweet pall over the day. 

The decision by the Norwegian Nobel Prize 
Committee to bestow the honor on Prime 
Minister Yitzhak Rabin and Foreign Minister 
Shimon Peres of Israel and on Yasser Arafat, 
chairman of the Palestine Liberation Organi- 
zation. prompted the resignation of one of the 
Nobel committee members, who said the 
committee had chosen the wrong man in Mr. 
Arafat and. he added, the wrong time, be- 
cause the peace was as yet too uncertain. 

On Friday night, as tensions increased in 
Israel the protesting Norwegian committee 
member, Kaare Kristiansen, went on televi- 
sion here with the equivalent of ‘T told you 
so." And late news reports on Norwegian 
television about the prize described it as being 
"overshadowed" by the unfolding drama in 
the Middle East. 

The prize was especially meaningful to 
Norwegians this year because Norwegian dip- 
lomats, official and unofficial had secretly 
brokered the accords that led to the ceremony 
and handshake on the White House lawn last 
Sept. 13. 

The Nobel Committee announcement, 
written before the events of the past few days, 
said the three recipients had "made substan- 
tia] contributions to a historic process 
through which peace and cooperation can 
replace war and hate." 

By the time of the news conference, at 1 1 
A.M., the chairman of the committee, Francis 
Sejersted, felt the need to add a separate plea 
to aU sides not to let the settlement reached 
last September fall apart. He noted that 
forces who oppose the peace process, not the 
PLO, were responsible for the kidnapping of 
the “young Israeli soldier ' and pleaded for 
his safe return. 

By nighttime, the soldier was dead. 

Mr. Sejersted was followed, in a separate 
news conference, by Mr. Kristiansen, who 
said Mr. Arafat was too tainted by “violence, 
terror and torture" to merit such a prestigious 
prize. He said he had urged the committee to 
wait a year to see if the peace lasted before 
honoring iL In a rare breach of Nobel proto- 


col, he then announced his resignation from 
the five-member committee. 

In their news conferences, Mr. Sejersted 
and Mr. Kris tians en conducted what amount- 
ed to an impromptu debate on Mr. Arafat 
and the philosophy of the world's most covet- 
ed civic award. 

The committee honors the cause of peace, 
not personalities, the committee chairman 
said. 

“It is not our job to evaluate a life’s re- 
cord," he said. “The committee does not want 
to be the supreme moral judges” of the world. 

“Even if you forgive Arafat,” said Mr. 
Kristiansen, a former conservative cabinet 
minister and a longtime vocal supporter of 
Israel "‘that is not a reason to give him the 
prize. Not all sinners who confess are given 
the prize. His past is too filled with violence, 
terrorism and bloodshed, and his future too 
uncertain to make him a Nobel Peace Prize 


a noted bureaucratic survivor, 
apparently decided to give in to 
the president without forcing a 
parliamentary vote. 

Russian officials suggested 
that Mr. Gerashchenko saw lit- 
tle to be gained by fighting, es- 
pecially when efforts to control 
inflation are already slipping. 


“Why stick around and be- 
come a scapegoat for every- 
thing that happens?" one offi- 
cial said. “Let someone else do 


There was no immediate in- 
dication whom Mr. Yeltsin 
might name to replace Mr. Ger- 
ashchenko. 


winner. 

This year’s prize, the formal statement 
stressed, “is intended by the Norwegian No- 
bel Committee to honor a political act,” one 
that “called for great courage on both sides.” 

“Arafat, Peres and Rabin have made sub- 
stantial contributions to a historic process 
through which peace and cooperation can 
replace war and bate," the statement said. 

It was, as weU, the first time the prize has 
been shared by more than two individuals, 
and only the third occasion in the prize's 93- 
year history that a committee member has 
broken ranks publicly and quit And it was 
the only time anyone here could recall that a 
newspaper reported both the dissent and the 
decision, though without mention of Mr. 
Peres, in advance of the public announce- 
ment. 

The only surprise of the announcement on 
Friday was the inclusion of Mr. Peres - 

While the cooperation of both Mr. Rabin 
and Mr. Peres was essential to the handshake 
with Mr. Arafat last year, Mr. Peres powered 
the secret talks that led to the moment. 

According to dose observers of the Nobel 


Boris G. Fyodorov, a former 
finance minister who has been 
one of Mr. Gerashchenko's 
most vocal attackers, said Fri- 
day that he had not been of- 
fered any government job but 
that he would consider r unning 
the bank, an old ambition of 
his, if it were offered. 


process here, the Oslo Accords that led to the 
handshake were the primary focus of the 


handshake were the primary focus of the 
committee from the outset, although about 
130 nominations had been submitted. 

Mr. Kristiansen said he had stated at the 
be ginning that Mr. Arafat was “a barrier” he 
could not surmount and that he would have to 
resign if the PLO chief were honored. 


IRAQ: Unconditional Acceptance of Kuwait Reported 


Continued from Page 1 


Saturday by the Security Coun- 
cil on the movement of Iraq's 
forces toward Kuwait. 

Russia has not yet agreed, 
however, and its envoy, caught 
in a growing confrontation be- 
tween Washington and Mos- 
cow. said Friday that he pre- 
ferred to wait until Mr. Kozyrev 
arrived in New York on Sun- 
day. 

The UN envoy, Vasili Si- 
dorov, did not say if Russia 
would cast a veto if the United 
States called a formal meeting 
for Saturday. 

The text of the resolution, ex- 
pected to be co-sponsored by 
Britain and France, was not to 
be introduced until later Fri- 
day, and a 24-hour wait is a 
normal courtesy. 

The resolution demands that 
Iraq pull back its troops to posi- 


tions they held before they 
moved toward the Kuwaiti bor- 
der. 

The chief U.S. delegate to the 
United Nations, Madeleine K. 
Albright, said she was pushing 
for an early vote because “we 
believe it is very important for 
us to get on the table the way we 
feel about the most recent ac- 
tion of the Iraqis.” 

In answer to questions, Mrs. 
Albright said the resolution had 
“nothing to do with sanctions 
but with the provocative ac- 
tions the Iraqis took in moving 
their troops.” 

She denied that Washington 
was in a head-on clash with 
Moscow, saying: “I don’t think 
we are on a collision course. We 
are having discussions.” 

The draft resolution requires 
Mr. Saddam to withdraw per- 
manently his elite Republican 
Guard but allows about 30.000 


regular army troops to remain 
in the area. 

Specifically, the document 
demands the following: 


Mr. Fyodorov is said to have 
had a telephone conversation 
with Mr. Yeltsin on Thursday. 
Mr. Fyodorov quit the ’govern- 
ment in January in a vain effort 
to get Mr. Gerashchenko dis- 
missed. 

Earlier Friday, Mr. Fyodorov 
said that if it were really true 
that Mr. Gerashchenko had re- 
signed, “That means there’s a 
God on earth.” 

Under Russia’s new constitu- 
tion. the president nominates a 
new chai rman, and Parliament 
must confirm the nomination. 

It is doubtful that Mr. Fyo- 
dorov, a pro-market deputy, 
could win enough votes. 

The speaker of Parliament. 
Ivan Rybkin, a Communist, 
said late Friday that he would 
accept Mr. Gerashchenko's res- 
ignation without the involve- 
ment of the D uma , or lower 
house. 

But he urged Mr. Yeltsin to 
follow constitutional require- 
ments for Mr. Gerashchenko's 
replacement. 

Pugnacious and unapologet- 
ic. Mr. Gerashchenko made no 
attempt to hide his scorn for the 
market reforms designed by the 
former prime minister Yegor T. 
Gaidar. 



Ulster Foes ' 
Plan First C 
Meeting t»l * 


tk, . h.i'. 


Mtchad PrabstrTfee Aaodutd Pm* 

Helmut Kohl, left, and his challenger, Rudolf Scharping, facing off on a Hamburg street 


GERMANY! Kohl’s Coalition Given a One- Point Lead 


• That Iraq withdraw all mil- 
itary units recently deployed to 
southern Iraq to their original 
positions. 


• That Baghdad not deploy 
such units to the south in the 
future and take no action to 
“enhance its military capacity 
in southern Iraq.” 


• That Iraq cooperate fully 
with the UN Special Commis- 
sion in charge of destroying its 
deadly weapons. 


He insisted that his function 
was not only to control the cur- 
rency through interest rates and 
money supply, as a Western 
central bank does, but also to 
engage in industrial policy. 

The bank issued millions of 
dollars' worth of credits and 
subsidies directly to state com- 
panies, factories, mines and 
farms, as in the Soviet days, 
usually without informing the 
government and the Finance 
Ministry. 


Continued from Page 1 
Schmidt's government in 1982. 
Much depends on the perfor- 
mance of other parties, particu- 
larly a strong showing by the 
Party of Democratic Socialism 

— the former East German 
Communist Party — or a weak 
performance by the Free Dem- 
ocrats. Either could thwart a 
maintenance of the status quo. 

Yet some surveys show the 
status quo fallin g short of a ma- 
jority. which could leave the So- 
cial Democrats in the position 
of building their own coalition 

— either a “grand coalition” 
with Mr. Kohl’s Christian 
Democrats or, less likely, with 
various combinations that 
could include the Greens, the 
Free Democrats or even the 
Democratic Socialists. 

In several interviews this 
week. Mr. Scharping firmly 
ruled out any coalition with the 
former Communists. He also 


threw cold water on the notion 
of a grand coalition, which 
proved unwieldy during its only 
past incarnation, from 1966 to 
1969, and would probably in 
any event be headed by Mr. 
KohL 


Some of his allies, however, 
have been hedging their bets. 
Gerhard Schroder, premier of 
Lower Saxony and perhaps the 
Social Democrats' slickest poli- 
tician, said in an interview pub- 
lished Friday in the newspaper 
Bild-Zeitung that he could see 
himself serving as a cabinet 
minister in a Kohl government. 


Saarland's premier, Oskar 
Lafontaine, a tart-tongued pop- 
ulist who was trounced by Mr. 
Kohl in 1990. and Mr. 
SchrOder, often touted to head 
the party in the 1998 cam p ai g n, 
agreed to quit sniping at Mr. 
Scharping and to vigorously 
campaign for him in exchange 
for promises of powerful cabi- 
net positions. 


“I don't want a grand coali- 
tion. but neither do I want to 
rule out an SPD option for it,” 
Mr. SchrOder said. 


The pact, which even a Kohl 
strategist conceded was “a 
smart move,” added some vigor 
to the Social Democratic cam- 
paign and eased voter concerns 
about’ Mr. Scharping's lack of 
national experience. But it may 
have been too little, too late for 
him to win the chancellor's seat 


After a dreary summer. Mr. 
Scharping sought to revive So- 
cial Democratic hopes this fall 
by forging a pact with two pow- 
erful and popular party leaders. 


The Dortmund rally featured 
a joint appearance by the three, 
with Mr. Schrdder and Mr. La- 
fomaine receiving at least as 
much applause as Mr. Scharp- 
ing. 


By James F. Clari ty,.;. , 

New York Tut** Sermr v. . 

DUBLIN — In what of fwask 
here describe as a historic and 
significant event, representor 

fives of the overwhclnunglyRo- 

man Catholic Irish Republican. 
Anny and of Protestant para- 
military groups, as well as prati*’ 
ical leaders front Northern Ire- 
land and the Irish Republics 
expected to on«t withur-a 
month for their first formal 

talks. . _ £ 

The talks, probably in Dub- 
lin, will be aimed at a definitive 
political settlement of the 25- 
year 3 fcn *n an warfare in the 
British province of Northern 
Ireland. 

The meeting will mark the 
first time once the gutereflra 
warfare began in 1969, tod in- 
deed since southern _ Ireland 0 
gwinwrf independence in 1922.. 
that representatives of the para- 
military killers and political 
leaders of nonviolent parties 
have faced each other across a 
table. 

The Forum for Peace and- 
Reconciliation, as it is called, is 
also expected to show the con- 
siderable differences between’ 
the groups and provide an indi- 
cation of how flexible, or intrac- 
table, they may be on crucial 
issues such as British troop 
withdrawal and the IRA sur- 
render of its weapons and ex- 
plosives. 

In one sense, the Forum, 
which could have several ses- 
sions, will be group therapy, in 
which once-vehement enemies, 
responsible for the deaths of 
earn others' family members, 
and friends, get to lock each 
other in the eye for the first 
time. 

The office of Prime Minister 
Albert Reynolds of Ireland con- 
finned Friday that the talks- 
were expected to begin at the 
end ol this month, or early in 
November. The meeting is to 
indude only officials from Ire- 
land,, north and south, without 
British participation but with x- 
British approval. 

The meeting is to be the first' 
formal Step toward broader ne- 
gotiations that are expected 
eventually to indude all the 
Irish groups apd British offi- 
cials. • 

Prime Ministcr^JiAn^Major 
of Britain has approved the 


The use of force is implicit 
rather than explicit in the reso- 
lution, which threatens “serious 
consequences” in the preamble 
rather than the operative part of 
the resolution. 


(Reuters, AP, AFP) 


GULF ! Perry Warns Iraq to Remove Armored Units 


Continued from Page 1 


won’t go beyond that to de- 
scribe what form of military ac- 
tion.” 

U.S. forces in the region in- 
clude Tomahawk cruise missiles 
on navy ships and hundreds of 
air force and navy planes, in- 
cluding many armed with laser- 
guided bombs. 

Mr. Perry traveled to Kuwait 
from Saudi Arabia, where he 
met with King Fahd and visited 
American troops at a Saudi Air 


Force base in Dhahran. He said 
at a news conference in Dhah- 
ran that the United States 
would bolster its troop deploy- 
ment even higher than planned 
if Iraq balks at pulling back. 


“We cannot accept that de- 
ployment. which we consider 
threatening and destabilizing,” 
Mr. Perry said in remarks 
quoted by the AP. “Indeed, if 
those forces stay in the south, 
we will expand our current de- 
ployment plans and take appro- 


priate action to deal with this 
threat” 

Mr. Perry said upon arriving 
in Kuwait “Only if they move 
those forces north, only if they 
truly remove the threat in Ku- 
wait. will we terminate our de- 
ployment and only when that 
happens will we consider a 
phased drawdown of our de- 
ployments.” 

Mr. Perry subsequently met 
with a company of support 
troops at Camp Doha, north of 
Kuwait City. 


Ministry. 

The credits helped result in 
very high inflation that slowed 
the already painful transition to 
a market economy. 

But Mr. Gerashchenko ar- 
gued that production was more 
important than inflation and 
that the state could uoi let huge 
enterprises die, a position that 
attracted much support among 
Mr. Yeltsin’s opposition. 

Mr. Gerashchenko was 
roundly attacked by market re- 
formers and was once called 
“the world's worst central 
banker” by a Harvard profes- 
sor. Jeffrey Sachs, then serving 
as an adviser to the Russian 
government. 


Dublin meetings tod i 
ex peered to approve 
between British offiti 
Sinn Feu, the IRA^j 


KIDNAP: Hostage Dies in Raid 


After the old Parliament was 
dissolved and shelled a year 
ago. Mr. Gerashchenko played 
a quieter role and cut credits, 
bringing inflation down to 4 
percent a month early this sum- 


Con tinned from Page 1 
sheikh and other prisoners. Ne- 
gotiations were carried out via 
an Arab member of Israel's Par- 
liament, Talab Sanaa, and the 
head of the Islamic movement 
in Israel Raid Sal ah. 

“There was hope, but Rabin 
killed the hope and the soldier," 
said Mr. Sanaa, who described 
the attack as “inappropriate." 

"There were chances to bring 
out the soldier alive," he said. 

Earlier, Mr. Sanaa said he 
had received a verbal proposal 
from Mr. Rabin’s office and en- 


But the bank recently began 
issui ng more credits, pushing 
monthly inflation back up to 
nearly 10 percent. 


To subscribe m Germany 

jus* call, toll free, 

0130 84 85 85 


gaged in two hours of negotia- 
tions with Hamas officials. 

He said the proposal was that 
if Hamas would publicly de- 
clare a postponement of the 
deadline, the government 
would commit itself to seriously 
considering the Hamas de- 
mands. 

Israel Radio said members of 
Israel’s rightist opposition had 
told the government that they 
would accept negotiations with 
Hamas if there was no other 
option besides a military one. 

In Jerusalem, the despondent 
mother of Corporal Waxman 
asked Jewish women around 
the world to light a Sabbath 
candle For her son as the dead- 
line drew near. In a video re- 
leased by the kidnappers. Cor- 
poral Waxman pleaded with 
Mr. Rabin to release the Pales- 
tinian prisoners, saying he 
would be killed otherwise. 

(AP, Reuters, AFP ) 


Romanians Jail 
U.K. Couple as 
Baby Smugglers 


i tod 'i|pndcly 
irove-, (gettings 
offidgK and 
IRA^p&itical 
conwiaeed that 
the IRA cease-fire its 44th 
day Friday pennanent. 
'The ProtestfiEB^^riamilitary. 
groups annoanttxfea cease-fire 
that began Thursday at mid-, 
night. “ 

With violence now suspend- 
ed in the Protestant-dominated- 
British province, a scenario on 
how the peace efforts will ad- 
vance began to take shape. 

First, the Dublin meetings of! 
politicians and paramilitaries 
will explore basic constitutional ; 
and security problems. Then,! 
three months after Britain de-’ 
cades that the cease-fire is per-:! 
manen t, London will begin ex-* 
ploratory talks with Sinn Fein; 
and the Protestant groups.- 
Then, perhaps in the spring, ne-'-A. 
gotiations involving all sides, 
could begin. 


BUCHAREST — A British 
couple were sentenced to two 
years and four months in jail 
Friday by a Bucharest court for 
buying and trying to smuggle a 
baby out of Romania, officials 
said. 


The lawyer for Adrian and 
Bernadette Mooney said she 
had immediately lodged an ap- 
peal and had applied for the 
couple to be released on baiL 
The two were not in court for 
the guilty verdict 


The Mooneys, arrested on 
July 6 with a 5-montb-old girl 
hidden in their car, were prose- 
cuted under new adoption laws, 
enacted to stem a boom in baby 
trafficking since the 1989 over- 
throw of communism. 


To subscribe in Front 
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05437437 


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P>V 

;K 

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'% » ml 

■ By Molly Moore 

, Washington Post Service 

r . 1. '/! ihr vi^‘V jJ NEW DELHI —The Into 

\ ' “Hm-* ‘ j government on Friday released 

, «ii: ; .r JJ& jj one of Kashmir's most popular 
v u ' jtjr and influential political leaders, 

1 . Shabrr Shah, from prison five 

'* •nivl V : years after he was jailed under 
‘ : r v Jc^, , . "4 the country’s controversial ter- 
•• :; f!> f,-’’. 1 . 1 ’’tfl.r rorist law. 

1 • i.v ‘ l Vr f t J ; Mr. Shah, who had been la- 
i ":c i_.ii * beled a prisoner of conscience 

■ hij» hl ' prt, t.^ by the London-based human 

• • ! >u\ii rights group Amnesty Intema- 

tionaL is the third moderate 
!-.• *. i. * uJ’ & Kashmiri political leader to be 
: PM;c « .-/i' released in the last two weeks 
1 *: by the Indian government. 

» • ^ He was greeted by a cheering 

“ SKc 'in* ^ crowd of about 700 people on 
his release in Jammu, the winter 
acai*- capital of the state of Jammu 
!n *rnijfev!^ Kashmir where Muslim 

.« separatists are fighting for inde- 
' tilw. pendeace from predominantly 
Hindu India. 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 15-16, 1994 


Page 7 


India Frees 
A 3d Top 
Kashmiri 
Politician 








JSfa j 



East Asia and Europe Steady Their Footing 

By Michael Richardson But analysts said it would not While on the other hand con- a number or European lead- 

rmmanwi Hereid Tnbunt be easy to gain unanimous gov- turning actions that restrict M Uiat the Union was ’ 

SINGAPORE — In a major eminent acceptance in Europe trade and investment." emerging from recession with a 

effort to defuse tensions be- East Asia for some of the Mr. Yeo said that East Asian strong competitive position in 

tween East Asia and Europe, 3 far-reaching proposals on trade governments would “need to key industries and would be . 
group oF leading political and investment liberalization, behave as responsible global a bie to take full advantage of 

business leaders from the two The persistent tensions be- citizens and take concrete steps ihe export and investment op- . 
regions agreed Friday on a tween the two regions surfaced to deregulate and liberalize port uni ties offered by East 

— . k.nl.4 Mftirt Frirfav a4im R avmnrH lhnrM>nnnni]‘M M i J.>. nmutk 1 


business leaders from the two 

regions agreed Friday on a _ _ r . 

wide-ranging program to build again Friday when Raymond their economies.** Asia's rapid economic growth, 

closer relations. Barre, a former prime minister Mr. Supachai said that East .. v ... . ■ 

The proposals are intended of France, criticized Mahathir Asia feared that the recent rise Martin KoWhaussm. oiair- 

to “reset the balance" between hm Mohamad, thepnme mints- in anti-dumping actions bv the 5*“ °> t-ommerzbanK Ay or 

Eas^Xsia™ suun g tis with W or Malaysia. EU against inerts from Asia 

North America and its more Mr. Mahathir had said in a was a sign that Europe was re- “ntly, Eur0 £ e £ c f.^ 

distant links with Europe, said speech at the meeting that most sorting to nontariff barriers to Aaa s cconomic cnaucn 8 c - 

Klaus Schwab, head of the of Europe still had to get rid of block foreign competition. “But the tide has turned," he 

World Economic Forum, which an attitude that “some will call The meeting’s proposals said said. “The benefits of closer 

set up the Singapore meeting, incredible arrogance" before a it was essential that European economic ties are now per- 

The proposals included a call genuine partnership of equals countries make a commitment ceived to outweigh the costs of 

for regular gatherings of East could be built with East Asia. i 0 control the spreading use of adjustment related to fiercer 


Asia's rapid economic growth. 

Martin Kohlhaussen, chair- 
man of Commerzbank AG of 
Germany, said that, until re- 
cently, Europe feared East 
Asia’s economic challenge. 

“But the tide has turned," he 
said. “The benefits of closer 
economic ties are now per- 


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Indian officials said the 
Kashmiri political leaders were 
being released in an effort to 
allow preparations for elections 
in the war-ravaged state next 
spring. Bat Mr. Shah, as well as 
other leaders who have been re- 
leased. say that they - will not 
participate in elections and that 
they believe the government 
will not conduct fair elections. 

When India last hdd elec- 
tions in the Himalayan state in 
1989, only 5 percent of voters 
turned out because of a boycott 
called by militant organizations 
and a pervasive belief that the 
elections would be rigged. 



v 

*;fev 


Asian ami Euro p ean heads of 
government similar to the infor- 
mal summit meetings of leaders 
from countries in the Asia-Pa- 
cific Economic Cooperation 
Forum. 

The first summit meeting of 
that forum, held in Seattle in 
November, caused concern in 
the European Union, where it 
was seen as an attempt by some 
American and Asian states to 
“gang up" against Europe on 
trade issues. 


Mr. Barre said such a state- 
ment was “unacceptable.” 
Asian descriptions of the Euro- 
pean Union as a highly protect- 
ed fortress, he said, were belied 
by East Asia's large and grow- 
ing trade surplus with Europe. 

Japan's trade surplus with 
the EU amounted to S40 billion 
in 1993, while the rest of East 
Asia had a trade suplus with 
Europe of about S12 billion. 

East Asian states must adopt 


anti-dumping measures. 


competition. 


trade issues. a long-term strategic view, said 

A deputy prime minister of Yeo Cheow Tong, Singapore’s 
Thailand. Supachai Panicbpak- minister for trade and industry. 


di, said it would be useful for 
East Asia to have a similar con- 
sultative arrangement with Eu- 
rope to deal with trade, invest- 
ment and other issues. 

Mr. Schwab said the propos- 
als agreed to on Friday were the 
result of extensive consultations 
and consensus among meeting 
participants. 


“If they wish to continue 
growing, to enjoy higher stan- 
dards of living, and to power 
this growth through exports, 
they must allow others, in turn 
to export to them," he said. “It 
is no longer tenable for East 
Asian countries to argue on the 
one hand against protectionist 
threats by developed countries. 


Clip Shows Belgian Rightist 
Desecrating Jewish Tomb 

The AssoautrJ Prcu 

BRUSSELS — An extreme rightist dtv council member 
quit Friday, less than 24 hours after Belgian television showed ; 
a video of him urinating on a Jewish grave at a meeting of neo- 
Nazis in Germany last February. 

Daniel Leskens resigned his National Front seat on the city 
council of Anderlecht, one of the 19 cities that make up 
metropolitan Brussels. He won that seat in local elections last 
Sunday in which extreme rightists scored well across Belgium. 

On Thursday, the RTBF French-language television net- 
work broadcast a video showing Mr. Leskens urinating on a 
Jewish grave as another man gave the stiff-armed Hitler 
salute. It said the footage was shot last February at a gather- 
ing of former Waffen SS officers in Germany* attended by 
some Belgian neo-Nazis. 


Lou FLurnoodo'Tbc Aaoeiatcd Prcu 


CEMENTING RELATIONS — Vietnamese laborers shoveling the concrete Friday 
for a bmhfing in Hanoi that will serve as tbe headquarters for foreign businesses. 


MANILA: Filipinos Daring to Hope Boom kfor Real 

plaints that its 1987 elections in _ . _ , _ , 


the state were rigged to put na- 
tional ruling party candidates 
in office. 

In recent interviews, many 
Kashmir leaders said that they 
doubted the government's sin- 
cerity in wanting to hold elec- 
tions and that they believed the 
current prisoner releases were 
timed to coincide with ongoing 
United Nations sessions, in 
which the Kashmir issue and 
allegations of human rights vio- 


Continued from Page 1 

spending cuts required to boost 
overall efficiency and national 
savings rates. 


style shopping malls are more ic reform program begun dur- 
crowded than ever. ine the presidency of Corazon 


crowded than ever. 

Encouraged by an overall up- 


ing the presidency of Corazon 
C. Aquino and to comply with 


overall efficiency and national turn in consumer spending, the guidelines set down by the IMF 
savings rates. food and brewing giant San Mi- have begun to bear fruit as po- 

But they argue that President g° cI Corp. raentiy introduod litical stability returns to the 
Fidel V Ramos's initial sue- a beer that sells for countty after years of turmoiL 

cesses will strengthen his hand twoandah^timesthcpnceor “We no longer face the poliu- 
in marshaling controversial re its regular ^ brand. cal upheavals that obslnicted 


• ... • ,..i tuned to coincide with ongoing foms through a combative lee- 1 was dout)tin S 14 myself un- uic cwummu i«uim agcuuu, 

-.I-., i" .Hi - r .o United Nations sessions, in islative nrodxs 68 tfl last December," said San Mi- said Antonio Samson, an execu- 

p.i?iu';pjiue c which the Kashmir issue and ^ guel’s chief financial officer, tivewithPhilippineLocgDis- 

1: .sviihjI & allegations of human rights vio- “In 38 years of banking, I’ve DelfrnC. Gonzalez Jr., of Presi- lance Telephone Co» a one- 

1 hi ’i|.-r:ins Mrfc lations with the civil never seen anything quite like dent Ramos's pledge to solve time monopoly now having to 

‘ -'n.;; *up war are likely to be raised. it," said Gabriel Srngson, gover- the power crisis. “But the im- adapt to competition. 

;\ ■!».■!:« ns . {!;.:! jc ; - nor of the Central Bank of the provement has given people a “There is a much more pro- 

i\ ii\ !.• i:tdui>. Philippines, speaking of the lot more confidence in the gov- business attitude by govern- 

!r cs aaJ Pw growing boom. "And I am con- emment’s ability to get things ment, a deliberate and consis- 


“We no longer face the politi- 
cal upheavals that obstructed 
the economic reform agenda,” 


* ' !.• iitJui-. 

Ir-.:: j:s.>:;rv aaJ tl»* 


I v i::s:" Mibim-j Vk 

ihil.W: Jjj. 

I i- .f . i-,: s!;.v!iv 'i mJ: 

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ih. iS \ 

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TaL’(33 1)4637939] 
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ndent it will be sustained." In- 
vestment bankers from Hong 
Kong are now flocking in for 
business, not vacations.. Thirty 
major foreign banks have ap- 
plied for 10 new branch li- 
censes, the first to be granted in 
45 years. Property prices are re- 
covering. and giant American- 


lot more confidence in the gov- business attitude by govern- 
emment’s ability to get things ment, a deliberate and consis- 
together.” tent attempt to court foreign 

“We feel the turnaround will investment **„ 
be sustainable, not a flash in the Exports and investment-led 
pan like the late 1980s," said economic growth are likely to 
Mr. Gonzalez, echoing the bull- exceed 5 percent this year, tqw 
ls bn ess found throughout the for Southeast Asia, but the 
business community. highest rate since the PhiJip- 

Tbe Ramos government's de- pines* last boom, six years and 
cisions to stick with an econom- one bust ago. 


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P ARIS — As the models spun on a 
fairground carrousel to hurdy-gurdy 
music, they summed up the opti- 
mism and joie de vivre of this sea- 
son's fashion merry-go-round. 

Jean-Paul GauItiePs magical show in the 
Musto des Arts Forain, was spunky and 
witty, with its take on fashions through the 
century. It was also filled with strong mod- 
em clothes that underlined the elegant 
womanly direction that the spring/summer 
season is taking. 

The show opened with outfits represent- 
ing each decade from lacy Edwardiana to 
futuristic minis kirts. But then Gaultier set 
the carousel spi nning, mixing genres so that 
Edwardian underpinnings or a 1920s che- 
mise were made out of blue denim, or a 
1930s housemaid's print went on a chiffon 
dress. For accessories too, button shoes 
would go with hot pants, a 1950s chignon 
with modern tailoring and a show-stopping 
parasol hat with anything. 

Underneath the fairground frolics were 
contemporary clotbes: a softly- tailored coat 
dress; a cappuccino satin blazer; or a bias- 
cut slip dress. For his finale, Gaultier typi- 
cally went right back to Eve, with a fig-leaf 
of sequins. It was a splendid show. 

Emanuel Ungaro's show Friday flew a flag 
for upbeat fashion. Dresses — his major 
statement — pranced out in a rainbow coali- 
tion of colors and patterns: flowers here, 
spots there, often both together, with animal 
prints. Although a few of those pelt prints 
could have been exterminated, they were 
graphic, and the show’s general effect was 
fresh and fun. Models gyrating to disco music 
against a United Nations backdrop of flags 
made a lively finale. 

Not that Ungaro had so much new to say, 
although there were a few New Length, to- 
the-knee, A-line skirts. The designer had his 
heart in short, flippy skirts, one in coin dots 
with a froth of petticoat. But Ungaro said the 
show was about liberty, and it had a sense of 
freedom in the varied lengths, flirty skirts and 
swishing ponytails. 

Ungaro addressed the question of what to 
wear to work — or at least to lunch: pearl-gray 
suits or a coatdress like an elongated tailored 
jacket. He even had the outfit to wear to an 
Indian-Lheme party: a Rajasthan vest, tunic, 
hip shawl with coin fringe and gypsy-in- your- 
sole sandals. Ungaro’s curvy little black dresses 
trimmed with bright pink marabou feathers set 
the audience tapping their feet 
The music, like tinkling , splashing, glug- 
ging water, came from gourd-shaped instru- 
ments. And the bright, sweet colors in which 
Issey Miyake dressed the Liu orchestra made 
a magical backdrop to his merry show. 

The standing ovation for Miyake — the 
first of the Paris season — was not just for the 
colors coursing down the runway: almond 
green, fondant pink, baby blue in one shad- 
ow-play outfit. It was for the invention, 
imagination and creative energy that Miyake 
brings to his show each season. For summer, 
he played subtly with color, pairing spinach 


Moora Thomas 

Polka-dot dress from Ungaro . 

with lettuce green or a shower of confetti- 
colored pastels. 

He also used mat and shimm ering textures 
and prints that were like colored raindrops. 

All the research into fabrics and finishes 
was lightly worn in simple clothes, easy and 
sporty, but with the focus now on dresses, as 
well as shirt-jackets with pants. They were 
interspersed with show-stoppers: hooped 
dresses bouncing like bedsprings. In a poetic 
finale, Miyake showed ethereal dresses, as 
fine as rice paper, while the orchestra, dressed 
in sweet pea-colored pleats, took a bow. 

What is there to say about Marline Sitbon’s 
show — except that she has taken a shine to 
satin this season? That meant licorice-black 
trouser suits or cropped tops with narrow 
pants to open the show and then peacock- 
bright Charmeuse blouses with pinstripe tai- 
loring- Not shiny enough? Then there were 
Suzy Wong dresses appliqu£d with flowers; 
or the pearlized leather jackets; or the glitter 
sparkle white suit; or high-gloss vinyl pants. 
Last season Lolita. This time Saturday Night 
Fever. Sitbon follows the fashion action. 

The closing days of the Paris season win 
focus on the couture houses parading ready- 
to-wear. The object is to offer a strong, coher- 
ent image, without frightening the upscale 
customer. Wearable tailoring — severe jack- 
ets with softer pants and skirts — was sent out 
at Lanvin. But designer Dominique Moriotti 
seems to be offering options rather than any 
fashion message. So coats were long and strict 
— or they were loose duster coats. Linen 
dresses were short and curvy — or long and 
graceful. Evening wear, especially black 
dresses hobbling the knees, suggest that most 
women — and certainly this designer — 
should stick with pants. 


3 Faces of Whistler: Still an Enigma 

international Herald Tnbmc mene,” is a portrait of his companion ing away in the distance on a pale tur- than in the terms of its subje 

L ONDON — More than 90 years done under the influence of Rembrandt quoise sea under a sky that almost blends Painting in that vein alone 
after his death, James McNeill Whistler's meeting with Courbet, which with iL been enough to secure a p 

Whistler remains as enigmatic look place in the summer of 1858, led to a Whistler left for Chile in the hope of history for Whistler. But tht 
and fascinating as he must have drastic change of orientation. He turned taking Dart in what the artist imagined artist simultaneously practice* 


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International Herald Tribune 

L ONDON — More than 90 years 
after his death, James McNeill 
Whistler remains as enigmatic 
and fascinating as he must have 
seemed to those wbo knew him welL 
Perhaps no one ever really got to read 
this smooth, witty, supremely intelligent 
man, with three equally convincing per- 
sonas, who spoke with a British accent 

SOUREN MEUKIAN 

when confronted with Americans and 
put on his finest Yankee drawl when 
talking to the English. His work is the 
subject of a retrospective at the Tate 
Gallery in London through Jan. 8. 

The die was cast from the day of his 
birth, in 1834. The Whistlers were an 
American family from the South but 
Major George Washington Whistler, his 
father, was a civil engineer who kept 
moving about. They were living in Low- 
ell. Massachusetts, by the time young 
James was bom. 

The boy was only 9 when they were 
transferred to Saint Petersburg, where 
he got to leant French, then a second 
language to the Russian aristocracy, and 
took hjs first drawing lessons at the 
Imperial Academy of Fine Arts. The 
next port of call was London for just 
over a year. At last, the family moved to 
Connecticut Young Whistler went to 
Christ Church Hall for two years, en- 
tered the U. S. Military Academy at 
West Point in 1851, and in 1854 was 
unceremoniously chucked out for failing 
in chemistry. The fact that he was at the 
top of the class cut no ice with the 
military. Determined to study art Whis- 
tler left for France in September 1855, 
never to return to America. 

A stint at tiie Eoole Imperials et Spe- 
dale du Dessin in 1855-1856 was fol- 
lowed by another in the studio of the 
academic painter Charles Gleyre. Whis- 
tler was on course for a multitrack career. 

He started as a tradition-oriented en- 
graver, haunted by his admiration for 
Dutch Masters. “La Marchande de Mou- 
tarde," an etching of 1858, draws on 
Pieter de Hooch's composition, while an- 
other etching of the same year, “Fu- 


ing away in the distance on a pale tur- 
quoise sea under a sky that almost blends 
with iL 

Whistler left for Chile in the hope of 
taking part in what the artist imagined 


bis attention to everyday life in the poorer was a social revolution against Spain. 

.. - _ r n_ _* Tvr.i. ' _i__ _ a - .. tr.l " _ 


districts of Paris. With works such as “La 
Soupe a Trois Sous,” a terse etching clos- 
er to Manet than to Courbet, a realist 
artist seemed to be in the making. This 
phase reached an apex in 1859 with a 
large oil painting, “At the Piano.” 

A woman in black is seated at a grand 
piano while a young girl in a white frock 
leans on the other side The scene is 


broadly painted. If a realist, Whistler was and pale blue, 

one who could not be bothered about For a few years. 


Once in Valparaiso, Whistler painted 
views that were not all that different from 
what he might have done in Britain. The 
“realist” was obsessed with his own vi- 
sion, not with reality. A sketch of 1866, 
“Nocturne in Blue and Gold: Valparaiso 
Bay” betrays the impact of Japanese 
composition in its bird’s-eye view per- 
spective. It is an essay in bichromy, pale 


than in the terms o T its subject matter. 

Painting in that vein alone would have 
been enough to secure a place in art 
history for Whistler. But the surprising 
artist simultaneously practiced an utterly 
different style. In his portraits, painted 
with great skill, he gave evidence of his 
admiration for Goya and others. The 
likeness of Cicely Alexander, seen stand- 
ing, escapes categorization. Painted in 
1872-1874, it is neither academic and 
“Victorian," nor remotely Impressionist. 
Like some of Manet’s portraits, it belongs 
to the tail end of the great Western por- 
trait tradition. 


detail. “At the Piano." alas, was rqected ‘Nocturne 
by the Salon. Stung, Whistler left for tuineGray 
London in 1859, where the picture was toe image c 
belter received in 1860. He settled there, deep Uirqui 
In the meantime, the artist had started of toe samt 
exploring new avenues. A passionate col- gestion of 
lector of Chinese blue-and-whire porce- barely be i 
lain. Whistler paid visits to a shop in Paris scape, 
called La Porte Cirinoise, on Rue Vi- .The higl 


For a few years, Whistler carried the 
“Nocturne” theme to extremes. In “Noc- 
turne Gray and Silver the painter fixed 
the image of dark night floating over the 
deep turquoise-green Thames under a sky 
of the same color. Without the faint sug- 
gestion of a turret the picture would 
barely be identifiable as a figural Jand- 


F ROM then on. Whistler mean- 
dered between tradition-in- 
spired portraits, some of them 
academic and anecdotal, and 
highly advanced landscapes and scenes. 
Among these, the styles vary greatly. 
“The Riva — Sunset: Red and Gold," erf 
1879-1880, is a Venetian pastel, roman- 
tically evocative. “Green and Peart — 
La plage, Dieppe,” a watercolor done in 
1884 or 1885 reduces a crowd on a beach 
to spots of color in a pale sandy expanse. 

As he grew older, Whistler returned to 
the figural. His drawings of a dancing 
woman seen from the back and “Moth- 
er and Child.” done about 1890, display 
an alacrity and a softness that areaston- 
ishing from an artist of his advanced f? 
years. His last self-portrait is a conscious 
and, perhaps, none too felicitous effort 
at seeing himself in Rembrandt fashion. 
But the shining intelligence, the zest for 
life, the sparkle of irony are all there. 

Since the early 1890s, Whistler had 
been a celebrity m the United States, 
where his workwas bought oh a massive 
scale. In 1902, he struck a. friendship 
with the rogue banker Richard A1 Can- 
field, who became one of his main col- 
lectors, after Charles Lang Freer. The 
painter did his portrait ironically titled 
“His Reverence" and died within weeks 
on July 17, 1903. George Vanderbilt and 
Freer were among the six pall bearers 
who took tns coffin to Chiswick Ceme- 
tery. Whistler would have loved this 
belated homage of the uppermost gilt- 
edged layer of the establishment. . 


called La Porte Chinoise. on Rue Vi- .The high point was reached in 1875 
vienne. It was almost certainly there that with “Nocturne in Black and Gold: The 
he was introduced to the world of Japa- Falling Rocket” Specks of gold come 
nese prints. Its impact ran be detected in down against the backdrop of foliage 
the composition “The Balcony ” Howev- indistinctly perceived at night and the 
er, a preliminary sketch for it shows that dark reflections of blackish-blue water. A 
Whistler' s primary interest lay in move- small draped figure is painted like a shred 
ment and color balance — it is an essay in color. Mysterious and beautiful, the 

turquoise greens and purplish pinks — dreamlike view was nevertheless ridiculed 
not in outline, of which there is none, in ty John RuiJ dn. The art critic (who was a 


contrast to Japanese woodcuts. 

T NDEED, the influence of Far East- 
ern art took a more diluted form 
than the deceptive japonisme sug- 


competent watercolorist) called it apot of 
paint flung in the public's face. Fearing 
the commercial implications of Ruslan's 
pronouncements, Whistler sued him for 
libeL The court case gave rise to a famous 


man me aecepuve japorusme sug- UDCL ThC court case gave nse to a famous 
gests. It drove him to a m i nim alist exchange between the attorney-general. 


approach to odor and detail In this re- 
spect, the Far Eastern factor curiously 
combined with another great influence, 
that of advanced English watercolorists. 


Sir John Holkcr, and the artist Holker: 
“What is the subject of ‘Nocturne in 
Black and Gold*?” Whistler “It isa night 
piece and represents the fireworks at Cre- 


“Cripuscule in Opal: TrouvQle," done in monte Gardens." 

1865 in very pale shades, is the closest Holker: “Not a view of Cremorae?” 
that a landscape in ofl by the artist ever Whistler: “If it were called ‘A View of 


got to a Turner study in wash and pen. Cremome’ it wo 
Whistler developed a highly original about nothing bui 
landscape style, evocative rather than de- the part of the behi 
scrip tive. The quintessential masterpiece, is an artistic arrang 
“Nocturne: The Solent,” on loan from call it a ‘nocturne.’ 


Cremome’ it would certainly bring 
about nothing but disappointment on 
the part of the beholders. (Laughter). It 
is an artistic arrangement That is why 1 


the little-known Gil crease museum in 
Tulsa, Oklahoma, shows three ships sail- 


This was die first time that a Western 
artist defined what he painted other 



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INTERNATIONAL 



Sribune 


PuWishrd With Th* - IW York Tinw* ami The Washington Post 


Closer to Peace in Ulster 


It’s Major’s Turn to Act 

Northern Ireland’s Protestant militi as 


took a dramatic step toward resolving the 
province’s intractable civil war Thursday 


Thursday 

by renouncing violence and calling for a 
new era in which “our children . . . will 
know the meaning of true peace." This 
follows the Sept. 1 cease-fire by Sinn 
Fein* the political wing of the Irish 
Republican Army. 

The two main combatants have stepped 
back from the battlefield; now it is Brit- 
ain’s turn. Prime Minister John Major 
needs to do his part to keep the process 


going, by convening peace talks with all 

w r. Major has so far refused to 


parties. Mr. 
consider talking directly with the Irish 
republicans on the grounds that their 
peace declaration was not ‘'permanent" 
But permanence can only come as mutual 
trust builds. The IRA's cease-fire has held 
for six weeks, despite provocations and 
despite the Protestants' earlier refusal to 
declare peace. The danger of letting this 
unique moment slip by is much greater 
than the risk of trusting the IRA. 

The question now is whether Mr. Major 
has the courage to see this moment for 
what it is, and act, It is a moment that 
could not have happened without the pre- 
ceding steps, all of which required courage. 

Prime Minister Albert Reynolds of Ire- 
land and Mr. Major set the stage with 
their declaration in December, offering 
to bring the IRA into the dialogue if it 
permanently renounced violence. 


President Bill Clinton deserves credit 
for extending a visa to allow the Sinn Fan 
leader Gerry Adams to visit the United 
States earlier this year. At that time Mr. 
Adams’s voice was banned from the Brit- 
ish media. Given the opportunity to speak 
to an American audience, he realized he 
needed to take the next step, and vowed to 
“take the gun out of Irish politics.” 

Shortly after he returned home, the 
IRA declared its cease-fire and the Brit- 
ish gave him back his voice. 

For Mr. Major, there are other consid- 
erations. With elections looming, and his 
Conservative Party looking pitiful in the 
polls, be needs to hang onto Conservative 
seats in Northern Ireland. 

He has long shrunk from the risk of 
takin g actions the province’s die-hard 
loyalists would view as betrayal. But with 
this new declaration, it is clear that even 
the die-hards are weary of violence and 
hungry for peace. 

As Mr. Adams noted Thursday, “The 
only force still involved in military opera- 
tions [in Ireland] are the British.” Mr. 
Major can begin by announcing plans to 
scale down the British presence, and set- 
ting the stage for talks among all parties. 

In the Middle East, in South Africa and 
all over the globe, the romance of guerrilla 
struggle is fading as long-simmering feuds 
marked by terrorist violence are being re- 
solved with words and compromise. Per- 
haps now it is Ireland's turn to start the 
long, hard march toward peace. 

— THE NEW YORK TIMES. 


Barriers Coming Down 


Ten years ago this week, the level of 
violence in the struggle over Northern 
Ireland reached a shameful new level. In 
an attack on the political leaders of Brit- 
ain, meeting on their own territory, Irish 
Republican Army terrorists bombed a 
hotel in Brighton during the Conservative 
Party’s annual conference. Four were 
killed and more than 30 injured, though 
Prime Minister Margaret Thatcher, the 
apparent target of the blast, was not hurt. 
That catastrophe, condemned by Dublin 
and Washington, stiffened London’s re- 
sistance to the terrorists and brought 
about renewed efforts in Washington to 
stem the flow of American money to the 
IRA. But the violence continued for an- 
other decade during which some Protes- 
tant extr emis ts in Ulster formed death 
squads that imitated and eventually ex- 
ceeded the killing s of the IRA. 

Britain's Conservatives were meeting 
again this week, but this tune the news on 
Ulster is good. Only six weeks ago, Gerry 
Adams, the leader of Sinn Fein, the 
IRA's political arm, announced a cease- 
fire and a desire for peace talks. That 
cease-fire has held, but it was tested early 
on by at least two acts of terrorism from 
the Protestant side, one of which resulted 
in a death. Now, the announcement that 
all parties have been waiting for has been 
made: On Thursday, the Combined Loy- 


alist Military Co mman d, an umbrella 
group of Protestant guerrilla organiza- 
tions, announced that its units would 
“universally cease all operation hostil- 
ities” beginning at midnight. This pledge 
puts all parties on board the movement to 
peace through negotiation. And it is a 
welcome development for Prime Minister 
John Major, whose Conservative Party 
has not been unanimously supportive of 
his steps toward reconciliation. 

Cease-fires are not in themselves solu- 
tions, but they make progress toward 
peace possible. Undoubtedly, the Prot- 
estants, hardened by 25 years of IRA 
violence, were skeptical about the latest 
overtures toward peace and highly sus- 
picious that the one-sided cease-fire 
would last. But six weeks of calm 
have been convincing, and international 
support for laying down arms must have 
been encouraging. 

In Ulster, barriers at the border cross- 
ings have begun to come down. F amili es 
in both religious communities have got- 
ten a taste of life without constant fear of 
gunfire and bombs. And government 
leaders have had a chance to emphasize 
the dividends that an end to violence will 
bring to the economy of Northern Ire- 
land. There is much yet to be done, much 
to be tested and much to be agreed upon, 
but the prospects for a lasting peace in 
the province seem real. 

— THE WASHINGTON POST. 


Steady Against Saddam 


Saddam Hussein's latest bout of adven- 
turism in the Gulf again forces on other 
nations the question of how to prevent him 
from keeping the region churned up and 
insecure indefinitely. The latest idea, and 
one that seems to be gathering some allied 
support, is to restrict the forces he could 
station in southern Iraq. One purpose 
would be to trim the military threat to 
Kuwait. Another would be to demonstrate 
conspicuously to the Iraqi people that be 
cannot protect the sovereignty and integri- 
ty of the Iraqi nation. 

It is a good idea. Not all the allies agree 
on the particular version of it that ought to 
be tested. The Americans and British have 
been readier than the French and Russians 
to make the existing flight-exclusion zone 
in southern Iraq free of all Iraqi ground 
units and weapons. But a consensus solu- 
tion would leave Saddam Hussein a good 
deal less able to make trouble in the Gulf 
than he was a week ago. 

The Iraqi leader complains that the 
United Nations is treating him different- 
ly from everybody else. No sooner does 
he claim to meet one UN demand — to 
allow international monitoring of his mil- 


itary capabilities, for instance — than 
another is put before him, to recognize 
the sovereignty and borders of Kuwait 
He is right to say that more is demanded 
of him than of conventional miscreants. 

There is a good reason: He is an uncon- 
ventional miscreant more duplicitous, 
more dangerous, more tenacious. Sad- 
dam's Iraq does not deserve a break from 
others; others deserve protection from 
Saddam's Iraq. Whether they can gain 
sufficient protection while he rules in 
Baghdad is precisely the question they 
arc attempting to answer now. 

Sanctions remain in place, as they 
should. They keep pressure on Saddam 
Hussein to respect the UN resolutions. 
His pressure against them, including his 
military feint toward Kuwait, shows their 
effect The Iraqi people are suffering 
from the sanctions. But much of that is 
because be denies them what relief they 
could get if he took up the long-available 
international option to let Iraq sell oil 
under international supervision for hu- 
manitarian supplies. President Bill Gin- 
ton is right to hold steady on sanctions. 

— THE WASHINGTON POST. 


Other Comment 


Going It Alone in the Golf? 


The fum international support that 
c bold t 


quickly gathered behind the bold Ameri- 
can-led response to Iraq's most recent 
threats toward Kuwait has begun to show 
disturbing signs of slippage. 

France and Russia nave powerful com- 
mercial reasons for going easy with Iraq. 
Both countries stand to gain billions 
when trade and investment with Baghdad 
again become legal. This consideration. 


of course, influences their diplomacy. 

Could the United Slates act to enforce 
its own restraints on Iraqi actions in 
southern Iraq without a specific new Se- 
curity Council mandate? Washington has 
already indicated that it believes it has 
that authority, under existing UN resolu- 
tions and Article 51 of the UN Charter. 

Clearly, strong international support 
for keeping Saddam in line is preferable; 
it is not, however, strictly required. 

— Lor Angeles Times. 



International Herald Tribune 

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If the Germans Were Voting to Redesign Europe 


• • 


P ARIS — Germany’s national election 
this weekend can be expected to 
change little in the country’s foreign poli- 
cy, even if Chancellor Helmut Kohl's 
governing Christian Democrats are 
forced into a “grand coalition” with the 
Social Democratic Party. 

Such a coalition would presumably re- 
sult from a collapse of Mr. Kohl’s present 
coalition partner, the Free Democratic 
Party. There could also be a significant 
rise m support for the Ex-Communist Par- 
ty of Democratic Socialism in what used 
to be East Germany, where unification has 
proven a disappointment. The ex-Com- 
munists at best mil surpass the 5 percent 
vote that would let them into the Bundes- 
tag, but their success in the polls has 
created a political-psychological shock, 
threatening what German commentators 
have called “the East's revenge.” 

However, foreign policy is unlikely to 
change, on German initiative at least, 
since no substantial alternative has been 
proposed to Germany’s present commit- 
ment to Western alliance and European 
integration. But the choice may not lie 
with Germany. There’s the rub. 

Western alliance depends on the Unit- 
ed States. In the next few years the grow- 
ing force of isolationist opinion in Amer- 
ica may have no important practical 
consequences for NATO and Europe. It 
is likely to be another matter in the long- 
er term; but sufficient to the day is the 
evil thereof. For the present, the German 
problem revolves around relations with 


By William Pfaff 


France and the nature of Europe’s con- 
tinuing unification. 

The German majority is committed to 
a form of unification that would see a 
European government assuming a sub- 
stantial pan of the sovereign authority 
now exercised by national governments. 
This is the official model for Europe's 
future integration, implicit in the Maas- 
tricht treaty. 

Mr. Kohl's Christian Democratic part- 
ners. the Christian Social Union, are hos- 
tile, preferring a “federal" model for Eu- 
rope in which nations would cooperate 
but not cede sovereignty. And obviously 
the German nationalist right is against it. 

But for the German majority, European 
unification has seemed a solution to the 
problems of German identity and German 
history. The individual kingdoms, duchies 
and cities of Germany — united inio one 
nation only a little more than a century 
ago, with disastrous consequences in two 
world wars and Nazism — would find a 
new identity as dements in a new Europe- 
an union in which nations are abolished, 
or at least in which they yield economic 
sovereignty and abandon their individual 
war-making authority. 

Will there be such a Europe? Can there 
be? Britain says no. The Conservative Par- 
ty rank and me, at the party’s just-ended 
annual conference in Bournemouth, made 
plain its vociferous opposition to this kind 


of Europe. Itis dear that the British public 
majority, while favoring Britain’s mem- 
bership in the European Union, is unwill- 
ing to see a sovereign Europe. 

In France this issue has yet to be seri- 
ously confronted. There is much double- 
language, and even double-thinking. The 
French believe that Europe must be buflt 


j^cuntYa i ----- Mm—n> - — v — « 

the Czech Republic into the European 
Union and under NATO protection as 


as 


around French-German cooperation, 

German 1 


and they understand that 
wants (and needs) real integration, 
yet the French remain profoundly an- 
chored in not only the concept of but the 
emotional need for national sovereignty 
and self-sufficiency, and this makes it 
extremely unlikely that France really 
would ever accept the kind of Europe the 
Germans say they want 

It thus is extremely hard to believe that 
Germany is going to have the Europe it 
says that it wants, at least during the 
foreseeable future. Germany is going to 
re main a sovereign and responsible na- 
tion, with all of the tensions, griefs and 
dang ers that implies. What another cen- 
tury will bring is another matter. The 
next decade is what now counts. 

Germany’s need is for security and 
reassurance that it is solidly anchored in 


Bringing them into Europe ts resist- 
ed mainly because this threatens estab- 
lished commercial and coipOTate mta- 
esis in the West. A serious NATO 
extension is held to threaten political 
evolution in Russia by provoking Rus- 
sian nationalism. What about German 
nationalism? ^ 

Europe really cannot afford its present 
dawdling pace in integrating the East. 
NATO, under U.S. pressure, is equally 
on a dangerous course in attempting to 
turn itself into an open-membership fo- 
rum for poGtical-mflitaiy dialogjjeand 
cooperation — a kind c* armed CSCE 
(Conference on Security and Coopera- 

:■ ■_ r- \ - MiTftV 


tion in Europe), in which NATO’s stratc- 
e and Site 


a democratic community. It needs this 
i realize 


gic role and fete arc sacrificed to political 
good intentions. 

The democratic nations of Europe are 
not going to dissolve into somo larger 
entity, by which dangera are caused to 
v anish. They need, practical cooperation 
now, with political as well as military 
solidarity to secure their mutual security 


above all as Germans realize that they are 
not going to have the kind of Europe in 
which their nation can lose itself and cut 
free from its history. 

What is uigeat is to give Germany a 
secure eastern border — to surround it 
with democracies committed to mutual 


as wdl as that of their neighbors. Genna- 
diis. If it 


ny above all needs tins: if it does sot get 
it, a decade from now the rest of Eiiropc, 
and Russia and the United States, may 
all be very sorry — - and the Germans 
sorriest of aQ. 

International Herald Tribune. 

© Los Angeles Times Syn&cOte. 





-wot 


0 


TlWfl 



Let Us Slice Away at Saddam’s Control 


N EW YORK — ■ Saddam Hus- 
sein stands a pretty good 
chance of carrying it off again. 
Once again he has created a mili- 
tary crisis and been forced by 
American power to bade off. And 
yes, once again he could end up 
with a deal that allows him to 
remain in total control at home, 
grow In prestige abroad as a lead- 
er of Islam and rebuild for a new 
attack against the United States 
and its Mideasiem allies. Nice? 

President BUI Clinton suddenly 
has arrived at the same derision 
point President George Bush 
reached after he led the allied 
coalition lo a stunning military 
victory over Saddam. Would be 
push on toward ending Saddam 


By A. M. Rosenthal 


and his tyranny? 

deck 


Mr. Bush decided not to do 
that because it would have meant 
carrying on the war a while long- 
er. There’s not much point bat- 
ting that one around anymore. 
The fact that American troops 
had to return to the battleground 
they won settles that argument. 

But Saddam Hussein, faced 
again by U.S. troops, withdrew the 
additional divisions he sent to the 
Kuwait border. So Mr. Clinton 
does not have to face a derision on 
whether to keep a war going. 

What he docs have to do is use 
his own demonstration of Ameri- 
can military and will power to 
shrink Saddam's control of Iraq. 

William Percy, the UJS. defense 
secretary, suggested one such 
way: an exclusion zone that 
would forbid Iraqi troops, troop 
movements or heavy weapons in 
Kuwait’s border region. 


Another would be to order 
Saddam to cease his constant use 
of Iraqi troops against Iraqi Shi- 
ite dissidents in the south, end his 
military blockade of the Iraqi 
Kurds in the north and pull back 
from Kurdish-run territory. 

But what is going on? The Unit- 
ed States has moved away from 
the Perry idea and similar sugges- 
tions to cut down Saddam's con- 
trol. Instead it proposes that Sad- 
dam be told not to send back to 
the Kuwait border those 20,000 
new troops he is already pulling 
ouL He would be free to use Lhem 
to go on killing other enemies, like 
Iraqi Kurds and Shiites. 

And he would still keep 35.000 
troops in the Kuwait area. 

Only one thing will be left to 
punish Saddam: the oil embargo. 
Only the embargo stands between 
him and the billions of dollars he 
wants to rebuild his military. 

France, China and Russia will 
fight to lift the ofl embargo so they 
can go through with the already 
-up deals with Iraq. They 
get Iraqi ofl. Iraq will get 
Western cash and Russian and 
Chinese weapons. The Middle 
East will get more war and Ameri- 
can troops another chance some- 
day to face the dictator who was 
supposed to have been buried. 

France, Russia and China say 
the embargo should be lifted be- 
cause Saddam supposedly agreed 
to permanent monitoring of his 
programs for weapons of mass 
destruction. Does anybody be- 


lieve he mil do that, once the 
embargo ends? He still has Scud 
migsilftH!, chemical munitions, his 
entire biological weapons pro- 
grams — and is digging new deep 
underground shelters and tunnels 
to produce and store the weapons 
of mass destruction he is not sup- 
posed to make anymore. The in- 
formation is from R. James 
Woolsey, director of the CIA. 

The United States now insists it 
will not agree to lift the embargo 
until SaiMam changes his behav- 
ior. That, says Madeleine Albright, 
U.S. delegate to the United Na- 
tions, includes stopping the repres- 


Haiti Needs 
Its Own 
Mandela 


By Michael Manddbaam 


W ASHINGTON — When 
Jean- Bertrand Aristide re- 
tarns to Haiti, be will face a 
doubly daunting task. He must 
conciliate his enemies while dis- 
appointing his supporters. 

This is hardly unprecedented 
The anti-Communist democrats 
who took power in Easton Eu- 
rope in 1989 faced the same 
problem. So did Nelson Mande- 
la’s government in South Afri- 
ca. But solving it will be harder 
in Haiti. And if Father Aristide 
fails, the price wfll be paid not 
just by Haitians but by the 
United States. 

Like Eastern Europe's demo- 
crats and Mr. Mandela, Father 
Aristide is the legitimate leader 
of a majority long oppressed by 
a more powerful minority. 

Haiti’s economic elite can be 
viewed as the equivalent of the 
former Communist establish- 
ment in Eastern Europe and the 
white community in South Afri- 
ca. And as in Eastern Europe 
and South Africa, in Haiti this 
minority will retain the power to 
subvert the government 
For the sake of social peace, 
the democratic authorities in 
Eastern Europe and South Afri- 
ca decided to forgo settling ac- 
counts with their former op- 
pressors. Father Aristide wfll 
nave to do the same. 

That is why a broader grant 
of amnesty than most Haitians 
seem to favor is necessary, even 
at the expense of justice. 

The returning president must 
conciliate his enemies for an- 
other reason. Political stability 
requires economic progress, 
which in turn, requires capital 
and those who know how to use 
it Both are to be found in the 
ranks of Haiti's economic elite. 

Just as Eastern Europeans 
have had to allow the transfor- 
mation of Communist function- 



ByDANZlGEK. 


aries into entrepreneurs and 
bankers for the sake of building 
a market economy — and blade 
South Africans have had to con- 
sent to the protection of the 
farms and businesses of whites 
— so too the vast majority of 
poor Haitians will have to toler- 
ate the villas and limousines of 
the rich for the sake of long- 
term prosperity. 

Prospenty will require not 
only indulging the rich but frus- 
trating the poor. Many Polish 
workers, the shock troops of 
Solidarity, lost their jobs to the 
realities of the new market 
economy. And Mr. Mandela 
has had to conduct a fiscal poli- 
cy geared to the demands of the 
financial markets rather than 
those of the blade townships. 

Haitians will expect immedi- 
ate improvement in their lives. 
But trying to satisfy that expec- 
tation holds all manner of per- 
ils. Sensible economic policies 
are incompatible with redistrib- 
uting the assets of tbs rich. 

The government wfll lack the 
funds to raise social J: “ 


spending ity o 
reign aid skins 


dramatically. And foreign aid 
should be channeled into invest- 


ment, not consumption. 

For most of the 20th century, 
a revolutionary was someone 
like Latin or 'Mao who led a 
successful insurgency, took 
power for life, and exercised 
strict and often deadly control 
over the lives of millions. 

Now the fate of successful 
revolutionaries is to administer 


the harsh economic prescrip- 
tions of the International Mon- 
etary Fund and leave office at 
the decree of the constitution or 
the voters, perhaps with a Nobel 
Peace Prize as a consolation — 
and, beyond that, the prospect 
of a healthy and just society. 

If Father Aristide can persist 
in policies of political concilia- 
tion and economic restraint, 
Haiti wfll have a chance to es- 
cape its historic patterns of pov- 
erty, misery and repression. 

The question is whether he 
can. His recent talk of reconcili- 
ation has been reassuring. His 
record in office in 1991 was not. 
He was a polarizing figure. 

If he reverts to that pattern, 
the U.S. forces could find them- 
selves caught in the cross-fire of 
a civil war. And then, as in So- 
malia a year ago, there would be 
an irresistible demand in Con- 
gress and the country for their 
immediate withdrawal, doom- 
ing democracy’s chances. 

Bat if Father Aristide can 
find the foresight, the generos- 
ity of spirit and the political 
Is to be Haiti’s Mandela or 
its Vaclav Havel, the U.S. forces 
will be the universally accepted 
guardians of a peaceful process. 
And that could be the be ginning 
of a stable Haitian democracy. 


The writer is a professor of for- 
dffi policy at the Johns Hopkins 
School of Advanced International 
Studies. He contributed this com- 
ment to The New York Tunes. 


Clinton Should Do More 
Than Just Stand Firm 



By Charles Krauthammer 


sion of his own people. 

Id not do that and 


Since he coul< 
still stay alive, it is a fine policy — 
or at least part of one. 

But it would have meant a lot to 
Iraqi rebels, and shortened Sad- 
dam’s hold on power, if his latest 
threat had also been met with im- 
mediate steps to reduce his control 
over them and their country. The 
sensible way to do that, in addition 
to embargo, is to slice away at his 
authority over Iraq's territory and 
his ability , to use his armed forces 
as essential tools of government 
and tenor. An exclusion zone or 
three would slice weJL Western 
diplomats sometimes pull long 
faces and say that might lead to 
the breakup of Iraq. 

Well, wclL Does containment 
of Iraq now suddenly mean guar- 
antee of Saddam's own territorial 
control of the millions of Iraqis 
who have fled to the mountains 
and the swamps to escape him? 
Where is it written? 

The New York Times. 


W ASHINGTON — “The eas- 
iest way to achieve com- 
plete strategic surprise,” notes the 
Eisenhower biographer Stephen 
Ambrose, “is to commit an act 
that makes no sense.” Pearl Har- 
bor and Hitler’s invasion of Rus- 
sia are classics of senseless sur- 
prise. The senselessness accounts 
for the surprise, which accounts 
for the initial success. In the end, 
however, the gamble is so reck- 
lessly unsound that it fails. 

Saddam Hussein is addicted to 
the senseless surprise. In 1980, he 
tried it on Iran; in 1990, on Ku- 
wait Both wars brought him di- 
saster. But addicts don’t learn. Is 
he Lrying to do it again? 

Possibly. Perhaps he thought a 
weak, distracted Bill Clinton 
might let him get away with re- 
taking Kuwait If he did, he was 
mistaken. Mr. Clinton put on an 
admirable display of dgdsi vo- 
ness, deterring Iraq with' a swift/ 
bold buildup of American forces. 

More likely, however, Saddam 
was not counting on a full cave-in 
by Mr. Clinton. Rather than 
planning to invade, his objective 
was more limited: getting sanc- 
tions lifted. And despite the con- 
ventional wisdom, his logic here 
was not afl that crazy. 

True, this show of aggressive- 
ness makes it harder for his UN 
Security Council appeasers — 
Russia and France — to plead bis 
case. But they were never Sad- 
dam’s problem. Saddam ’s prob- 
lem is the United States. It keeps 
moving the goalposts so that even 
his concessions bring no relief 
from the embargo. How to get the 
United States to soften? 

Well, how have the North Ko- 
reans gotten the United States to 
soften? Saddam is gambling that 
he can turn Kuwait to his advan- 
tage just as the North Koreans 
turned the bomb to theirs. The 
North Koreans have shown that 
you can violate international 
agreements, renege on commit- 
ments, directly threaten an Amer- 
ican ally — and come out ahead. 

No punishment, no sanctions, 
quite the contrary: Washington, 
frightened by military threats, of- 
fers all manna- of rewards — 
trade, aid, diplomatic ties — if 
only the miscreant wifl do what he 

was committed to doing in the first 

place. Saddam could easily have 
hoped for some of the same. 

His troop movemoats should 
be seen therefore not as a onetime 
bluff, but as a demonstration of 


his capacity to create recurring 
arises at wifl — i ' ' 


• and thus an invi- 
tation to negotiate. The United 
States cannot defend Kuwait 
from thousands of miles away. 
Nor can it keep griming up and 
then winding down the kind of 
buildup going on today. 


Saddimi thus has .mmnthmg to 
offer Mr. Clinton: a guarantee 
against futurecrises in return for 
an easing erf s an c tions. 

And tin* is where Saddam mis - 
calculated. Mr. Qintoa cannot 
engage in a second Korea negoti- 
ation. His credibility, reoc ig e d a 
deserved boost from his strong 
response to Saddam’s provoca- 
tion. Backing into- talks.; now 
would squander his political 
gains and expose him yet again to 
charges of fecklessness. 

Iraq is Mr. Omton’s chance to 
prove that he can starid his # 
ground. But standing- is not 
enough. The United States needs 
to keep from getting permanently 
trapped into Kuwaiti guard duty. 

It needs to regain the initiative. 

Two ways. First, impose a no- 
tank zone in southern Iraq(joining 
the fljght-exdusion zone). If no 
Iraqi tanks are allo wed south of 
ffcc_T2d Parallel, T3irmii3 n, (if?S 
kilometers) from Kuwait^ the 
United States will not have tokeep 
a large garrison there. U.S. planes 
will be in a position to disrupt and 
disperse any Iraqi threat long be- 
fore it reaches the Kuwaiti border. 

Unfortunately, the administra- 
tion appears to be abandoning 
this idea because of Security 
Council opposition. In particular, 
France is opposed. So what? The 
United States bore the brunt of 
the Gulf War. It will bear the 
brunt of any future war. 

The French don’t like it? They 
should be told, in the most deli- 
cate diplomatic language, to stuff 
it (That’s what diplomats are 
for.) The United States should 
declare Saddam's threatening 
maneuvers a clear violation of the 
Gulf War cease-fire (that is what 
State Department lawyers are 
for) and invoke the right to pre- 2 
vent him from breaking it again. ^ 
If the United Nations will not 
impose a no-tank zone, America 
should impose it unilaterally. 

But a no-tank zone is not 
enoagh. It is important to demon- 
strate that Saddam cannot pro- 
voke crises with impunity. There 
must be a price to pay for disturb- 
ing the peace. Whatprice? Declare 
the goalposts for lifting sanctions 
permanently moved. No relief un- 
til Saddam is gone. Use the world- 
wide revulsion with Saddam and 
the reminder of his aggressiveness 
to make overt what has been co- 
vert policy up to now: It does not 
matter what agrees to, 

the United States will veto all 
sanctions relief so long as he rules. 

Iraq is economically desperate. 
Sa d d am would not have launched 
his latest senseless surprise other- 
wise. If Bill Clinton hangs tough, 
he could actually finish the war 
that George Bush didn’t 

Washington Post Writers Group. 



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VIENNA — - The festivities in 
connection with the jubilee of 
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hann Strauss, commenced hoe 
yestraday evening [Oct 13], at 
the Theater an der Wien, with 
the premiere of Strauss’ new op- 
eretta of “Jabuka" (das Apfel- 
fest). Herr Strauss was called no 
less than forty-seven times be- 
fore the curtain during the per- 
formance, and appeared to be 
delighted over his success. 


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the victim of a daring jewel rob- 
bery in London, diamonds val- 
ued at £24,000 having been sto- 
len from his apartments. It is 
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Page 11 



THE TRIB INDEX: 117 

International Herald Tribune World Stock Index O, composed of 
280 intematoratty investable stocks from 25 countries, compiled 
by Bloomberg Business News. Jan. 1, 1992 = 100 
12D : 



100 


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World Index 

ic; 14.. 94 close: 1 17 30 
Previous. 1 17 49 


90 


-■&* a: . s’. • .. * !•)'( • 

. .4;5<\ >s 

' Nav'w-^- 


M 


O 

1994 


I Asia/Pacific 


Europe 


Approx, weighting: 32% 

Closer. 128.79 Pmz 130.45 
150 

Hfg| 

Approx, wetyting: 37% 
CtoBKMB£7Pwim38 

PM 


130 


nn -^S[ ; 3r/& v ' ^ 

w •■ * - s O - 


M J J 



IBM 


IBM 

North America 


Latin America 


Approx, weighting: 26% 
Close: 9730 Prev: 9731 

n 

Approx weighting: 5% 
Close: 144.96 Prov^ 148-91 




t Tokyo, 

Algorithm, Australia, Austria, Boighnn. Brad, Canada, CtiBa, De nmart c, FMand, 
Franco, O ar ma ny. Hong Kona, Ka^r, Haxko, NaOmrlanda. Hw Zealand, Norway, 
Shi gapo ra , Spain, S ara da n, SwWm ria nd and Vanaaiaia. For Tokyo. Now York and 
London, tho Indox b compamod ot iho 20 top issum In toons ot mariM capkaBzatian, 
othonnso foo ten tap stacks are tracked 


1 Industrial Sectors I 


m. Pm. % 


RL 

PlHL 

K 


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daw 

CfORO 

dm* 

Enagy 

115.70 11654 -0.72 

Capital Goode 

119.12 

11821 

4026 

UBtas 

129.47 129.84 -028 

flaw Material! 

13757 

136.16 

+1.04 

Finance 

117.18 117.78 -051 

Consuaar Goods 

10626 

106.11 

+016 

Services 

12088 121.17 -026 

UbcaSaneous 

125.15 

125-31 

-0.13 

For more information about the Index, a booklet Is available free of charge. 


Write to Trib Max, 181 Avenue Charles de Gaub, 9252.1 NeuBty Codex. Franca. 


Olntamaiianal Horaid Tribune 


Goldman 
Starts 
Job Cuts 

Firm Lays Off 
70 Employees 

Compiled ty Ovr Staff From Dupatcha 

NEW YORK — Goldman, 
Sachs & Co. on Friday began its 
expected 5 percent work-force 
reduction, laying off 70 em- 
ployees in its fixed-income and 
currency and commodity trad- 
ing divisions. 

The cuts affected 5 percent of 
the employees in those divi- 
sions, which include the invest- 
ment bank’s J. Aron currency 
and commodity trading unit. 
The layoffs, including 14 in 
London, are likely to be fol- 
lowed by more in the next few 
weeks. 

Goldman announced the cuts 
three days after it named 58 
new partners, the largest group 
of new partners elected at one 
time to the firm. 

Goldman, the richest invest- 
ment bank on Wall Street, is 
struggling against sharply lower 

because of this year's* *bond 
market tumble. Other Wall 
Street firms already have made 
big cuts. 

“Due to the prolonged, indus- 
trywide turndown, some beli- 
tigh taring has been necessary,” 
a Goldman spokesman said. 

"We are convinced that by 
taking the right steps now, even 
though they may be painful, we 
will do as well as possible, while 
conditions are difficult, and 
emerge even stronger when in- 
dustry conditions improve," the 
statement said. 

The company earned $23 
billion last year before taxes. 
Goldman is on track to earn 
$600 million to $700 milli on for 
fiscal 1994, which ends next 
month, a partner said 

Goldman has been conduct- 
ing annual reviews of employees’ 
performances to be used in de- 
ciding which of its roughly 9,000 
jobs to cut. 

(AP, Knight -Ridder, Reuters) 


Expansion for Microsoft 

Firm to Lead Market After Deal for Intuit 


By Lawrence M. Fisher 

New York Times Service 

SAN FRANCISCO — Mi- 
crosoft Corp., the world’s larg- 
est software company, put it- 
self in a position to dominate 
the emerging market for per- 
sonal finance software with its 
acquisition of Intuit Inc„ pro- 
ducer of the leading personal 
finance program. 

In the software industry's 
largest acquisition ever, Mi- 
crosoft acquired Intuit, which 
produces the personal fi- 
nance program Quicken, late 
Thursday m a stock swap val- 
ued at about $1.5 billion. 

The accord shows that Mi- 
crosoft will expand its domi- 
nance through acquisitions 
when its ability to do so with 
its own products fails. 

Quicken, with 6 million us- 
ers, is already the leader by 
far in financial software for 
personal computers and is 
used by a few small banks in 
the United States as the 
means for letting their cus- 
tomers do their banking from 
home. If Quicken can become 
the dominant software for 
electronic financial transac- 
tions — whether through per- 
sonal computers and modems 
or interactive television sets 
and cable systems — Micro- 
soft could skim royalties or 
fees from each transaction. 

Recurring revenue from the 
use of a product such as 
Quicken could easily outweigh 
the sales of the software itself, 
which is priced at $40. By 
charging a small fee for each 
transaction using Quicken, 


Microsoft could see its profits 
grow astronomically. 

“Intuit is a phenomenal 
company, and it is a unique 
situation where the sum is 
greater than the parts,” Mi- 
crosoft’s chairman and chief 
executive, William H. Gates 
3d, said Thursday. “Certainly 

managing finances, in the 
broadest sense, is one of the 


'Intuit is a 
phenomenal 
company, and it 
is a unique 
situation where 
the sum is greater 
than the parts. 9 
William H. Gates 3d, 
Microsoft chairman 


major opportunities that that 
electronic world will present. 
That is a major part of the 
future of software, and Mi- 
crosoft wants to be there.” 

Although the acquisition 
was announced after the close 
of trading Thursday in New 
York, shares of Intuit had ris- 
en in recent days on specula- 
tion about a deal with Micro- 
soft. But Intuit still singed 
$17,125, to $67,375, on Fri- 
day. Shares of Microsoft fell 
$1.3125, to $55.9375. 

Based on Microsoft’s clos- 
ing price and an exchange ra- 
tio of 1336 shares of Micro- 
soft stock for each share of 
Intuit, Intuit shareholders 


would receive $74.65 a share. 
Should Microsoft's stock 
price drop further, the ratio 
would be adjusted to main- 
tain a floor value of S71 a 
share. 

In acquiring Intuit, Micro- 
soft is conceding the weak- 
ness of its own personal fi- 
nance software. Money, 
which has captured only a 
tiny share of the market. 

Apparently to meet anti- 
trust concerns, Microsoft as 
pan of the deal will sell Mi- 
crosoft Money to its software 
rival, Novell Inc., which in- 
tends to fold the product into 
Novell’s Wordperfeci line of 
software products. The terras 
of the sale of Money were not 
disclosed. 

Acquiring Intuit, which 
had net income of $25.4 mil- 
lion before various special 
charges relating to merger ac- 
tivity and sales of $223 mil- 
lion for the fiscal year that 
ended in July, would nearly 
double the revenue of Micro- 
soft’s home software business 
and give more weight to its 
plans for the home banking 
field and other on-line ser- 
vices. 

Microsoft had been report- 
ed to be developing an on- 
line service with the code 
name Marvel. But Intuit, in 
addition to its home-banking 

arrangements, already offers 
on-line updates of mutual 
funds’ performance and other 
financial data to the users of 
its software. 

Intuit also recently ac- 
quired the National Payment 
Gearing House, an dec ironic 
bill-paying service. 


U.S. Reports 
Show Inflation 
Under Control 


Compiled by Ovr Staff From Dispatcher 

WASHINGTON — U.S. in- 
flation was moderate last 
month, retail sales posted a 
healthy gain and America's fac- 
tory operating rate eased off a 
bit, the government said Friday 
in three reports that analysts 
viewed as depicting a healthy 
economic expansion, control 
over inflation 

Economists said the rash of 
statistics should ease worries 
that the Federal Reserve would 
soon increase interest rates be- 
cause of inflationary pressures. 

But overall, analysts said that 
the group of reports Friday de- 
picted an economy that is grow- 
ing at a healthy, sustainable 
pace. 

“We are growing slowly 
enough to keep inflation in 
check,” said Gordon Richards, 
chief economist at the National 
Association of Manufacturers. 
“We are seeing steady growth in 
demand and production with 
low. stable inflation.” 

Robert Dedenck, a chief 
economist at Northern Trust 
Co. in Chicago, said: “This is 
the best of all possible worlds.” 

Bonds rallied on the bullish 
inflation news, which lessened 
the likelihood of the Federal 
Reserve System raising interest 
rates immediately. That in turn 
supported stock prices. 

In Friday’s reports, the gov- 
ernment said: 

• The small 03 percent ad- 
vance in the consumer price in- 
dex reflected a big drop in ener- 
gy prices and moderation in 


coffee prices after two huge 
monthly gains. 

• Retail sales rose a moder- 
ate 0.6 percent in September, 
following a 1.1 percent August 
increase. Analysis said consum- 
ers. who account for two-thirds 
of total economic activity, were 
continuing to spend but not at a 
pace that threatens to overheat 
the economy. 

• Output at the nation's fac- 
tories, mines and utilities was 
unchanged in September after 
15 straight increases, reflecting 
in pan a General Motors Corp. 
Corp. strike that slowed car 
production. Die factory operat- 
ing rate, which is' closely- 
watched for signs of inflation- 
ary bottlenecks in the manufac- 
turing sector, actually declined 
slightly to 84.6 percent, down 

See DATA, Page 12 


Japanese Panel Brings Insider Charges 




ECONOMIC SCENE 


v-v-: 


Nobel as a Gauge of Change 


By Peter Passefl 

New York Times Sendee 

N EW YORK — The 1994 Nobel 
Memorial Prize in economic sci- 
ence, a $930,000 award to be divid- 
ed among three pioneers in the 
field of game theory, celebrates achievements 
in b ufldmg foundations for analyzing interac- 
tions among businesses, nations and even 
biological speaes. 

But just as important, the prize awarded to 
John F. Nadi of Princeton University, John 
G Harsanyi of the University of California at 
Berkeley and Reinhar d Sdten of the Univer- 
sity of Bonn acknowledges a shift in econom- 
ics that has occurred in the last two decades. 

Economics has been a discipline dominat- 
ed by the concept of perfect competition — 


nn single buyer or seller need worry about the 
responses of others. 

Perfect competition has proved to be a 
powerful idea, one that predicted how frec- 
market economies would evolve and gave 
policymakers a reliable way of figuring out 
-how best to -encourage growth as well as a fair 
division of the economic pie. 

In a world of hostile takeovers, trade wars 
anri big government^ classical economics is 
giving way to game theory, an approach that 
focuses on the give and take among players. 

While classical economics works for the 
international market in wheat with thousands 
of buyers and sellers, it takes game theory to 
try to ■ figure out how a supermarket will 
chang e the price of English muffins if its 
competitor marks down bagels. 

• Itfopens up terrain for systematic thinkin g 
that was previously dosed,” said Paul King- 


man of Stanford University, who has applied 
game theory to international trade. 

John von Neumann- and Oskar Morgen- 
stem, economists at Princeton, invented the 
field. Their book published in 1944, “The 
Theory of Games and Economic Behavior,” 
was the first to delve -deeply into the likely 
consequences of strategic interactions, where 
all the actors must consider the potential for 
reaction. Both of them have since died and so 
were not considered for the Nobd prize. 

John Nash, who received a doctorate from 
Princeton in 1950, is widely credited with 
laying out the mathematical principles of 
“games” — or rivalries — in which everyone 
knows what everyone else knows and every- 
one behaves in his own self-interest. 

“Nash is the point of departure” for all 
modem game theory, said Avinash Dixit, an 
economist at Princeton and a co-author of 
“Dunking Strategically,” the first guidepost 
for predicting the consequences of rivalries. 

But one glaring limitation of Mr. Nash’s 
work is the assumption about perfect knowl- 
edge of rivals’ motives and resources. 
l Compaq Computer Corp. does not ktiow 
exactly what Apple Computer Inc. is pre- 
pared to invest to build a better laptop com- 
puter. For that matter, it does not even know 
whether other companies are preparing to 
jump into the market, and under what cir- 
cumstances. Here the -work of John Harsanyi, 
a Hungarian-bora mathematical economist, 
filled the theoretical breach in the late 1960s. 

“Harsanyi gave shape to the fog in real- 
world games,” Barry Nalebnff of the School 
of Organization and Management at Yale 

Sec GAMES, Page 13 


By Steven Brail 

International Herald Tribune 

TOKYO — After two years, 
Japan's securities watchdog 
commission brought its first in- 
sider-trading case Friday, but 
rather than prevent abuses the 
case is likely to underline the 
panel's weaknesses. 

The 32 employees to be in- 
dicted appear to be only a frac- 
tion of those at the Osaka drug 
company wbo were aware that 
one of its drugs could be lethal 
before the information was an- 
nounced publicly. 

By the company’s own ad- 
mission. at least 175 employees 
sold shares in Nippon Shoji 
Kaisha before the government 
announced in October 1993 
that its skin dru^, Sorivudine, 
could have fatal side effects for 
patients taking anti-cancer 
drugs. The deaths of 15 people 
drew widespread condemna- 
tion in Japan. 

What’s more, many, if not 
most, employees at Nippon 
Shoji may have learned of the 
problems ahead of the an- 
nouncement, according to re- 
ports that suggest a breakdown 


of the company’s system for 
controlling strategic informa- 
tion and monitoring slock 
transactions. 

Thus while Friday’s an- 
nouncement by the Securities 
and Exchange Surveillance 
Commission that it had asked 
prosecutors in Osaka for indict- 
ments sent a warning, it also 
highlighted the weaknesses of 
the body set up to attack a 
problem that analysts consider 
widespread. 

“This will have only limited 
impact in preventing other inci- 
dents of insider trading,” said 
Mineko Sasaki -Smith, senior 
economist at Morgan Stanley. 

"The commission is not fi- 
nanced or staffed well enough 
to pursue many cases.” 

A failure of the commission 
to ask for any indictments 
would clearly have raised suspi- 
cions, given the sharp decline in 
the company’s share-price prior 
to the drug's withdrawal from 
the market last Ocl 12. 

“This is such an obvious case 
they had no choice but to pur- 
sue it," Ms. Sasaki-Smith said. 

The commission was set up 


two years ago with U.S. prod- 
ding after a series of stock mar- 
ket scandals highlighted the 
laxity of regulations and an 
equally loose system for over- 
seeing trading in the world’s 
second-biggest bourse. Broker- 
ages, for example, had routinely 
guaranteed their corporate cli- 
ents a profit on investments 
even if the stocks they bought 
declined in value: smaller inves- 
tors made up the difference. 

But after a fierce intra-gov- 
ernment battle, the commission 
was created with only minimal 
powers. It was set up' not as an 
independent body, for example, 
but as an arm of the Finance 
Ministry, which oversees the se- 
curities industry and had 
turned a blind eye to many of 
the brokerage’s actions. 

The commission was given 
only a small staff and budget 
and lacks the authority to di- 
rectly seek indictments for al- 
leged violations of Japan’s secu- 
rities laws. Nippon shoji marks 
only the third time the commis- 
sion has sought indictments. 

Commission officials said 
Friday that they were asking 


Osaka prosecutors to indict 32 
people, 27 of whom are employ- 
ees of Nippon Shoji. Four oth- 
ers are employees of Eisai Co,, a 
drug maker that had a contract 
to market the drug, and Showa 
Yakuhin, a drug wholesaler. 
The group included a physician, 
who reportedly made millions 
of yen through short-selling 
stock. 

The drug went on the market 
on Sept. 3, but Nippon Shoji 
only confirmed the first death 
17 days later. Two days later, 
local news reports suggest, news 
of the fatality was spread at a 
meeting of executives, precipi- 
tating a sharp Tall-off in the 
stock price. 

Insider trading is only one 
regulatory problem making the 
Tokyo Stock Exchange vulnera- 
ble to increasing competition 
from other bourses in the region 
and the West, die chairman of 
the New York Stock Exchange 
warned Friday. 

“We’ve found that what 
makes for investor confidence 
is strict regulation in terms of 

See INSIDE; Page 12 


L&FSale 
Ends Kodak 
Divestiture 

Bloomberg Business Vm 

ROCHESTER. New 
York — Eastman Kodak 
Co. said Friday it would 
sell the do-it-yourself prod- 
ucts business of its L&F 
Products unit to Forst- 
mann Little & Co. for $700 
million, marking the com- 
pletion of most of its dives- 
titure program. 

Kodak, a photography 
and chemicals concern, will 
transfer all assets related to 
the home improvement 
business, including brand 
names, product formula- 
tions and technology, plus 
production and distribu- 
tion facilities. 

For Kodak, the sale 
marks the completion of its 
move to dispose of busi- 
nesses not related to its 
core photography and im- 
aging businesses. 

In total, Kodak stands to 
collect about $7.8 billion 
for the units it is selling. 

In an internal memo last 
month, Kodak said it was 
likely to fall short of its 
earnings goal and would 
have to slash costs in the 
fourth quarter to meet its 
year-end target, a person 
familiar with the company 
said Friday. 

The L&F deal is expect- 
ed to be completed by mid- 
November. The cash price 
was on the high side of ana- 
lysts’ estimates. Some ex- 
pected the unit to fetch as 
little as $400 million. 


Telcom Group ’s Role to Grow 

UN Forum Reassures Private Industry and Seeks Advice 


Reuters 

KYOTO, Japan — The Inter- 
national Telecommunications 
Union, an umbrella group for 
government telecommunica- 
tions officials, agreed Friday to 
allow private industry into its 
counsel and aimed to increase 
its role in creating policy. 

At the end of a monthlong 
meeting, the UN organizations’ 
1,000 delegates from 151 mem- 
ber nations signed a declaration 


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creating the World Telecom- 
munication Policy Forum. 

As cross-border satellite TV 
broadcasts become increasingly 
common and large Western 
companies snap up telephone 
contracts around the world, 
many smaller countries wanted 
the group to acL as regulator to 
protect their interests. 

This alarmed the private sec- 
tor and some Western nations, 
which feared the industry could 
become entangled in a web of 
regulations. 

The century-old body in the 
past avoided policy issues and 
acted more as a clearing house 
for govemment-to-goverament 
telecommunications issues. 


Pekka Taijanne, the secre- 
tary-general of the group, 
sought to reassure private in- 
dustry. 

He said the forum would not 
have the power to impose sanc- 
tions and would aim to set poli- 
cies which “reflect the opinions 
of private companies as well as 
government regulators.” 

The group, which is not fund- 
ed by tire UN and depends cm 
members’ contributions, decid- 
ed to admit private industry 
members as observers. 

Private industry members 
will also be given other rights 
but in return will be expected to 
contribute money and technical 
expertise. 


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72 740 Source: Reuters. 


Citing Loss, AST Research 
Plans a Move to Taiwan 

Compiled by Our Staff From Dispatches 

IRVINE, California — Battered by heavy losses, the per- 
sonal computer maker AST Research Inc. said Friday that it 
would lay off nearly 700 workers and move its California 
manufacturing operations to Taiwan. 

The company expects to lose $39 million or $40 million in 
the first quarter of its 1995 financial year. Losses could 
continue into the second quarter as well, the company said. 

AST stock plunged more than 10 percent in heavy trading 
in New York on Friday, ending at $10.75, down $1.50, on 
volume of nearly 6 million shares. 

The company said it planned to reduce its worldwide 
workforce of 6,900 by 10 perceut 

The layoffs are part of AST's efforts to stay competitive 
with the industry leaders, Compaq Computer Corp. and 
International Business Machines Corp., which have drastical- 
ly reduced costs in recent months ana lowered prices. 

(AP, Bloomberg) 


JH 

Istituto Finansyario Industrials 

Society per Asionl 

Corporate Offices: 25. via Mareneo, Turin. Italy 
Capital Stock Lire 123,600.000.000 fully paid 
Turin. Registry of the Companies no. 327, File 2370/27 

RESOLUTIONS OF THE 
SHAREHOLDER'S MEETING 

The ordinary general meeung of the shareholders held in Torino on Septem- 
ber 30th, 1994 approved the financial statements lor the fiscal year ended 
March 3lth, 1994. 

The shareholders resolved to distribute a dividend of Lire 270 for each prefer- 
red share and Lire 220 for each common share. 

The dividend will be payable on October 17th. 1994. Payment, net of withhol- 
ding tax. wlfl be made upon presentation of coupon no. 16 at the main offices 
and branches of the paying agents listed hereunder. 

The shareholders also resolved: 

- To authorise lor the purposes of and in accordance wfth art 2357 of the Ita- 
lian civil code, the purchase, on one or more occasions and (or a period of 
IS months from the date of the present resolutions, of a maximum of further 

2.000. 000 ordinary and/or preferred shares of The company at a price ran- 
ging tram a minimum per share of L 1.000 (par value) to a maximum o[ l 

40.000. for this purpose using an appropriation of 80 billion Lire to the special 
fund "Reserve far purchases of own shares’ considering therefore revoked, 
for the part not utilized, the resokitlon adopted on September 29. 1993; m 
addition, to authorise tor the purposes of and in accordance with arv 2357 
ter of the Italian civil code, the use of the shares purchased by selling them 
or by using them as payment tor the acquisition of investments. 

- To fix atten the number of board members torthe fiscal years 1 994/95- 1 995/ 
96-1996/97. 

- To appoint as directors mesas. fifovanniAgnelli. Umberto Agnelli. Giovanni 
Nasi, GianJuigi Gabetti, Gabriele Galateri d> Genola, Susanna Agnelli, Carta 
Camerana, Antoine AmedGeRlboud. Franzo Grande StevBns. PioTeodorani 
Fabbrl, 

- To appoint as statutory auditors for the fiscal years 1994/95-1995/96-1996/ 
97 messrs. Cesare Ferrero (Chairman), Federico Ganna and bonefio Jorta 
Celeeia (acting Auditors). Paolo Piccatti and Marco WBigmann (substitute 
Auditors). 

Further the Board of Directors resolved to appoint Mr. Giovanni AgneHi as 
Chairman, Mr. Giovanni Nasi and Mr. Glanluigr Gabetti as Vice Chairmans. Mr. 
Umberto Agnelli as Vice Chairman and Managing Director, Mr. Gabriele Ga- 
lateri tfi Genola as Managing Director and General Manager. Mr. Franzo Gran- 
de Stevens as Secretary of fas Board. 

The extraordinary meeting farther resolved to ehmlnate the art. 20 of the arti- 
cles ot association and to modify art. 21 in order to eiedt more Vice Chairmans 
and to vary the numeration of the subsequent articles. 

The paying agents are: 

In the Netherlands: Amsterdam Rotterdam Bank N.V. 

In the Federal Republic of Germany: C o mmerzbank. 

in Switzerland: Bence Cornmerdale Italians {Suisse}, Crtdrt Suisse and So* 

riete de Banque Suisse. 

in France: Lazard Frdres et Go. 

In Great Britain: Lazard Brothers & Co. and S.G. Warburg and Co. Ltd. 
in Italy: all the leading banks. 

THE BOARD OF DIRECTORS 




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Page X2 


INTERNATIONAL HERALD TRIBUNE, SATURDAY -SUNDAY, OCTOBER 15-16, 1994 


market diary 


Dollar Languishes 
Despite Bond Rally 


Bloomberg Business Pews 

NEW YORK — The dollar 
tumbled to its lowest level since 
mid-July against the Deutsche 
mark Friday even though bonds 
and stocks rose. A spate of eco- 
nomic reports failed to con- 
vince currency traders that in- 
flation would not accelerate. 

Traders said the dollar was 
poised to fall because rallies 

Foreign Exchange 

Thursday in U.S. slock and 
bond markets had failed to help 
the dollar. 

“Yesterday, we had good 
news on inflation and big rallies 
in stocks and bonds, and the 
dollar still fell,” Paul Farrell of 
Chase Manhattan Bank said. 
“People in the market are ner- 
vous about that” 

Better prospects for Chancel- 
lor Helmut Kohl's coaLition 
government in German elec- 
tions Sunday helped the mark. 

In late trading, the dollar fell 
to 1.5 173 DM from 1.5284 on 
Thursday. It has fallen more 
than two pfennig this week. 
Against the yen. the dollar 


dropped to 98.05 from 99.395. 

Against other currencies, the 
dollar fell to 5.2138 French 
francs from 5.2405, and to 
1.2625 Swiss francs from 
1-2730- The pound strength- 
ened to S1.5960 from SI. 5895. 

The dollar has tracked the 
U.S. Treasury market for much 
of this year as traders watched 
bonds for dues about demand 
for U.S. assets. Now that link- 
age may be breaking, leaving 
the dollar to languish while 
bonds and stocks rebound, 
traders said 

Bood prices rose for a second 
day after the Labor Depart- 
ment said consumer prices rose 
only slightly in September. 

Currency traders focused in- 
stead on a report showing US. 
retail sales rose more than econ- 
omists expected in September. 

“Retail sales started the rot in 
the dollar,” David Coleman of 
Canadian Imperial Bank of 
Commerce said. 

“I’m perplexed,” Laurence 
Hayward of NationsBank said. 
“It mak es no sense that we have 
a growing economy, low infla- 
tion and a dollar this weak.” 


1 DATA: Inflation Under Control 


Continued from Page 11 
0.2 percentage point, after hit- 
ting a five-year high in August 
For the year so far, inflation 
at the consumer level is at an 
annual rate of just 2.8 percent, 
little changed from last year’s 
2.7 percent rise. 


_■ prices fell 0.7 percent 
in September, compared with 


U.S. Stocks 


the 1.4 percent rise in August 
The improvement reflected 
lower world crude oil prices. 

Food prices rose 03 percent 
last month, a slight drop from a 
0.4 percent rise in August pri- 
marily reflecting stabilization in 
coffee prices, which were soaring 
in the previous two months. 

Excluding food and energy 
categories, the so-called core 
rate rose 02 percent after a 0.3 
percent climb in August 

While many analysts said they 
thought the Federal Reserve 
would remain on the sidelines 
rather than risk bong accused of 
trying to influence November’s 
election results, they said that 
another rate increase was likely 
to come Nov. 15, at the next 
meeting of the central bank's 
policy-setting Federal Open 
Market Committee. 

In the markets, the bench- 


mark 30-year Treasury bond 
rose 8/32 point to 96 7/32, push- 
ing the yidd to 7.83 percent from 
7.85 percent on Thursday. 

The Dow Jones industrial av- 
erage closed 20.52 points high- 
er, at 3,910.47, supported by the 
bullish bond market But de- 
clining issues had a slight lead 
on advancers on the New York 
Stock Exchange, where volume 
on the Big Board came to 251.7 
milli on shares. 

The gains w ere led by Alumi- 
■Tium Ca of America, which 
dosed up 3%. at 87. reflecting 
higher aluminum prices. Union 
Carbide was 1 higher, at 33%, 
and IBM ended up 5k at 73%. 

Shares rose to 37% in Pohang 
Iron & Steel, the South Korean 
iron and steel company that 
made an initial 

Friday of 83 million American 
depository receipts. 

Long Island Lighting, the 
most active NYSE issue, rose 
1%, to 1794, after the state of 
New York proposed buying the 
utility. 

Sybase climbed 1 13/16, to 4 
1/16, after the computer soft- 
ware company was raised to 
buy from hold by Hancock In- 
stitutional Equity Services. 

(AP, Bloomberg) 


Via AiKKiatsd Prat 


Oei. W 


The Dow 


Dow Jpnesmdustrial average 



-A,# 4 4 A S 

•w- ' . 


Dow Jones Averages 


Open Higb low lh Cub. 

Indus 389*JW 3912.16 3878 J1 3910*7 -20.52 
Trons I48W6 low JO 188743 14940 -MS 
Ulil IB2J4 182.77 180.99 18244 *0.33 

Comp 1295.98 1301.71 17B9 68 1300.71 -8.6? 


Standard ft Poor’s Indexes 


IHT 


NYSE Most Actives 



Vol High 

Law 

Lasl 

Chg- 

ULCn 

36597 18ft 

17% 

17% 

+ 1% 

MicrTcs 

0-^’»LL r -B 

32 

34ft 


AMO 

35269 27ft 

TPh 

23% 

—ft 


24480 19% 

19% 

19% 




3* 

36ft 

— % 


rasio 15% 

15ft 

15ft 


FordMs 

229*9 29ft 

28% 

29% 

+ ft 

IBM 


71ft 

73ft 

+ ft 

TelexCh n 

Rrttflvirf 

19ft 

20ft 

_ 

McKes 

18308 99ft 

95ft 

96V. 

—5% 


17987 35% 

34% 

35ft 


Tnxlnsr 


65ft 

68ft 


CnttCp 


13% 

14ft 


RseMtae 


21 

21% 


MolOrtaS 

16790 54% 

53% 

53ft 

—ft 


NASDAQ Most Actives 



VoL High 

Law 

Last 

Chg. 






Novell 


15ft 

16 

—ft 

MJcsfts 

62422 57% 

55*5* 

55>%« 

— 1W. 

Inlutt 



67% 


APwrCnv 

51987 20ft 

17ft 

18 

—2 

Intel 

IT T ■ 

57% 

58ft 




Vm 

ft. 

+ Vm 


16ft 

17% 

—ft 

Sybase s 


0 

49Vu 

+ 1W» 

Aodairn 

29280 18V u 

17ft 

17ft 

— IVi. 

MO 

27511 25ft 

24% 

25% 

+V» 

Cisco 1 

26312 28ft 

27ft 

27% 


NatrSly 


6 

6ft 

—ft 


24119 17Wn 

l*ft 

17 


ApfdMoJt 

22024 46ft 

44% 

45% 

—ft 


AMEX Most Actives 



VoL 

Mgft 

Law 

Last 

cha. 

ViOCvrl 

40868 

IVi, 

1ft 

1ft 

— 

XCLLId 

12140 

1% 

1% 

1% 

— ft, 

ViacB 

11543 39% 

39ft 

39% 

+ % 

US Ale 

8898 

5ft 

41ft! 

5ft 

♦Vh 

ThreeF s 

7737 39ft 

34 

35ft 

—3 

TWAvra 

7677 

lift. 

1% 

1% 

—ft 

EcnoBav 

6222 

13% 

12% 

12% 

—ft 

VlacwtC 

3865 

3ft 

3ft 

3ft 

_ 

cmData 

3593 

Bft 

7ft 

8 

+ 1 

Cllnicp 

3104 

ft, 

ft 

ft, 

-ft, 


Market SMos 



Today 

Prey. 


Ctose 

com. 

NYSE 

251 JB 

40178 

Amex 

19.79 

2*82 

Nasdaq 

2710 

3720 


industrials 

Twsp. 

utilities 

Finance 

SPOT 

SP1DQ 


High Low 
55734 5530 
364J3 360.74 
15152 15179 
430 43.17 
469.53 468.11 
43SJ4 432JM 


Close ente 

SM 4 +174 
363.97 + 2-38 
15352 +IM 
4142 +0.13 
469.10 +171 
43476 + 172 


NYSE Indexes 


MQsh Uw Lint Cbg. 


Camposire 

Industnols 

Transit. 

Uflliry 

Finance 


258.09 2*644 257.99 
32472 332-94 324.71 
234.06 232.56 23167 
706.96 205.22 706.96 
205J7 20479 20573 


- B-54 
-0.63 
-034 
-032 
*076 


NASDAQ Indexes 


High Low Last Ora. 

Composite 766.93 764.90 76646 —1.43 

Industrials 779.83 77778 77978 —1.06 

Banks 75X57 749.53 749.53 —243 

Insurance 93158 92633 92771 —1.54 

Finance 92191 934.07 92105 —171 

Tramp. 704.65 70072 704.10 -205 


AMEX Stock Index 


HMi Low Last a»*- 
499.00 457.13 45870 —077 


Dow Jones Bend Averages 


20 Bands 
10 utilities 
10 Industrials 


Close Cb'se 

9645 —073 

9178 —tun 

10113 — 073 


NYSE Diary 


Advanced 
Declined 
Unchanged 
Total Issues 
New Hiatts 
New Lows 


Close Prav. 

1026 1333 

1052 886 

779 661 

2857 2880 

35 73 

59 54 


AMEX Diary 


Close Prev. 


Advanced 

Declined 

Uncharged 

Total issues 
New Hiatts 
New Lows 


273 

269 

288 

293 

235 

248 

796 

809 

13 

19 

20 

24 


NASDAQ Diary 


Advanced 
Declined 
Unchanged 
Total Issues 
New High, 
New Lows 


Close Prev. 

1535 1668 

1586 1538 

1979 1896 

5100 5102 

90 133 

59 71 


Spot Commodities 


Commodity 

Today 

Prev. 

Aluminum, lb 

*747 

*751 

Cooper rtectrotYhc, lb 

1X1 

121 

Iran FOB. tan 

2110 

2130 

LeocLib 

*42 

*42 

Silver. Irov a* 

Steel (scrap), tan 

£375 

*345 

11*17 

11*17 

Tin. lb 

3054 

£6414 

Zinc, lb 

*527 

*5204 


V MVUUi IVUIUOU 

INSIDE: Bourse Watchdog Snarls 


Continued from Page 11 
manipulation and investor pro- 
tection but as little regulation as 
possible in terms of the move- 
ments of the market itself,” 
William Donaldson said. 

Trading volume and share 
prices on the Tokyo Stock Ex- 
change have fallen sharply since 
the late 1980s. 

■ Write-Down by Nomura 

Nomura Securities said it had 


lopped 17.66 billion yen (S177 
million; off the value of its port- 
folio of marketable securities 
for the six months ended Sept. 
30, Bloomberg Business News 
reported. 

Japanese securities law re- 
quires that companies “marie to 
market” — use the lower of a 
security’s market or purchase 
price — to value their market- 
able securities holdings every 
six months. 


EUROPEAN FUTURES 


Metals 

Clow Previous 

M tit BW Alt 

ALUMINUM (HMi Grad*) 

Dalian nor metric tan 
&mf 169170 169270 165470 145570 

Forward 170770 170870 WITH 167270 

COPPER CATHODES (HIW Grade) 

Dollars per metric no 
Soot 248370 2454,00 249QT0 249170 

Forward 2481.00 248270 248970 3490.00 

LEAD 

Dalian per metric too 
Scot 64170 64250 63470 635.00 

Forward 65370 65X50 64670 

NICKEL 

Dollars per metric ton 
Spot 657070 658070 658570 659570 

Forward 666500 667570 668070 669070 

TIN 

Dollars per metric loa 
tool 540070 54OS70 £4070 536570 

Forward M90.W 548570 544070 544570 

ZINC (Special High Grade) 

Dollars per metrician 

SMI 104470 104670 104570 104670 

Forward 106470 106570 106570 106670 


Financial 

HM Low Close Cham 
frMONTM STERLING (LIFFE) 
IBWM-pfseMMPCf 


Dec 

Mar 

Jan 

Sop 

Dec 

Mar 

Jim 

Sep 

DfC 

Mar 

Jon 

Sop 


9163 

9275 

fcS 

91-46 

9174 

♦173 

9075 

HL74 

90l67 

90L62 

9*62 


9157 

9X77 

92.18 

9172 

9L40 

91.14 

90*6 

9071 
KL70 
9065 
9061 

9072 


9359 —073 

9270 — 075 
9222 — 072 
9134 —073 

9174 -072 

91-19 — AOS 
91.02 — 071 

9074 —073 

9074 -0J3 
9067 —075 

9063 —074 

9051 —074 


Est volume: 55601. Open bit.: 471717. 
3-MONTH EURODOLLARS (LIFFE) 
si minion -pt* of loo pet 


Dec 

9LB7 

946)7 

94.13 

Mar 

9171 

9370 

9374 

Jua 

N.T. 

N.T. 

9335 

Sep 

N.T. 

N.T. 

93613 


ElL volume: 166. Open tat.: <272. 
3-MONTH EURO MARKS CUFF El 
DM1 mllUea-Ptsef lSOpcr 
Dec 
Mar 
Jun 
Sep 
Dec 
Mar 
Jun 
Sep 
Oec 
Mar 
Jun 

Est votomefU£56A Open lni.r669.23A 


940 

9474 

0479 

+ *01 

94JB 

94A5 

9*52 

+ B6M 

94.19 

94.10 

94.16 

+ *03 

930 

9X74 

9331 

+ *03 

93JO 

93.43 

9347 

UnriL 

932S 

9X16 

9371 

—001 

92J99 

9X92 

9X96 

Uneti. 

9278 

9273 

9X76 

+ 0611 

9X59 

VX56 

9X59 

+ *01 

9X46 

9X42 

9X46 

+ 001 

9235 

9X31 

9X34 

Unch. 

9X2S 

9223 

9X24 

Uncn, 


3-MONTH PIBOR (MATIF) 
PF3 million - pts of IM Pri 
Dec 94.16 94.11 

94.14 

+ *01 

Mar 

9376 

9348 

9373 

+ *02 

Jm 

1041 

9131 

9X39 

+*06 

Sep 

930 

9X99 

936)5 

+ *05 

Dec 

9275 

927D 

9224 

+ CJB3 

Mar 

7X54 

9X49 

9X50 

Unch. 

Jun 

9X35 

9277 

9230 

— 0611 

seo 

9X19 

9X15 

9X16 

— *02 


Est. volume: 47,516 Open intj 177527. 
LONG GILT (LIFFE) 

<58500 ■ Pts & 32nd* Of 100 pd 
DK 101-29 101-12 101-24 —074 

Mar N.T. N.T. 100-27 —044 

Ed. volume: 52547. Often ini.: 92,901 
GERMAN GOVERNMENT BUND (LIFFE) 
DM 25050* - ptl Of IM per 
Oec 9043 8979 9035 + 079 

Mar 8956 8950 8953 +076 

Est. volume: 145707. Open Inf.: 164378. 
10-YEAR FRENCH GOV. BONOS (MATIF) 


FFSBBJM 

Ptl Of 180 PCt 



Dec 

11X06 

1110 

111-82 

— aw 


111.10 

11*94 

1110 

— *12 


11*30 

11*24 

11*30 

—0.12 

Sep 

N.T. 

N.T. 

N.T. 

Unch. 


Est. volume: 144486. Open Int.: 14534*. 


Industrials 

Hint! LOW Lost settle arse 
GASOIL (IPE) 

UJL dollars per metric ton-lots of 180 tons 
NOT 14870 U870 14750 14750 +1J5 

DOC 15125 15075 14975 14970 +075 

Jan 15275 15275 15175 15175 + 075 

Feb 15350 15350 1537S IS275 +170 


Stock Indexes 

Melt Lew Close Otanea 
FTSE IM (UFFE) 

05 per Index pom 

Dec 31577 31137 31227 —467 

Mv 31737 31737 31457 —467 

Est. votarne: 14492. Open bit.: 60649. 

CAC 48 (MATIF) 

FF2Mper index petal „ 

Oct 1SHL6B 193670 T9g70 Uncjt 

HQV 194170 195270 197570 Unch. 

DK 197570 19S4J3J W84J0 UlKtL 

MV 199050 199SLSI 201170 Uadi. 

Jun N.T. N.T. 1TO150 Undu 

Sep N.T. N.T. 202170 Unch, 

Ext. volume : 20,167. Open Int.: 63791. 

Sou rets: Motif. Associated FrtM, 
London Inn Financial Futures exchange. 
Inti Patmeum Exchange. 


DMctonds 


Company Per Amt Rec Par 

IRREGULAR 

LVMH Moet b .1892 11-00 12-10 

b:Apprax amount per ADR. 

STOCK SPLIT 

AGCO Carp 3 tor 2 Split 
Broderbund Software 2 far 1 split. 

Natl Beverage 4 tv I spilt. 


INCREASED 


Caldwell Partners a 

Reoders Digest Q 

Union Electric Q 


77 11-4 11-15 
M 10-24 11-1 
71 12-7 12-29 


AGCO Coro Q 71 11-U IM 

Arcadian Ptnrs Q 705 T0-28 11-11 

Banytm strut Q .18 10-27 11-15 

BodtSe-Nocll O J1 1031 11-15 

Cornmd Net Lease Q 33 10-31 11-15 

El Paso Natur Gas O 7025 12-9 1-3 

Federal Signal Q .105 12-9 1-4 

FOStheastFin Q 7625 10-21 1031 

Full Photo ADR C .18 10-19 

Giant Food A Q .18 11-4 12-2 

HuntJB Tramp Q 75 IM 11-22 

KlmcaRaaltv Q JO 11-1 11-15 

MkdKNdsJ Q 79 113 12-1 

Monmaulti REIT a .125 11-15 12-15 

NwHemmlr ThrHt Q .125 10-21 10-28 

Norcen Enemy Res p .15 11-9 12-1 

Tanner Factory . 46 1038 11-15 

Vlrca Mfs O 74 tl-8 IM 

c: Approx amount per share. 

a-auoai; g-poyabK In Canadhw funds j m- 
mwthty; B-marierty; s-semt-amnal 


Ccriili offcrie|> of imrMiu. framcUl 
unices or taettm io red com pablbtod <■ 
Ifaa newspaper ire m iuthorlzc4 In cenda 
labial— In *hkta Ac lucnulanl ILnU 
Tribeio Is lOslribnted. inrlnfli ike Uoiid 
Sum gf America. and da M CMUhaK 
effierinp el iceeriila, ten lets or Impcsu is 
these Jwbdlalom. The Iniemtioail Herald 
Trihanc iuboks M RipwaUatUy winHomi 
fer nijraihcnnnaaes farafierhaii/airUod. 


*r* 



U.S- /AT THE CLOSE 



Hfsb 

Low 

Last 

Settle am 




15X25 

1530 +10 

Aw 

15X00 

1510 

151 JO 

151 JO +10 


N.T. 

N.T. 

AT. 

1510 +10 


15*50 

15*50 

150J5-3 

1500 +*50 

July 

AT. 

N.T. 

N.T. 

1510 +*50 


N.T. 

N.T. 

AT. 

15X00 *00 


N.T. 

N.T. 

N.T. 

1540 —075 


N.T. 

N.T. 

N.T. 

15*75 —090 

E*. volume: 1306. 

Onen Int. 10X859 



uA,doUart per barrd-loh of liOOO barrel* 1 


1L97 

068 

15J1 

1187 -*W 


1593 

1548 

1576 

1576 UnriL 


lira 

1575 

1579 

150 — *05 

Fab 

1199 

1181 

1151 

1182 — *10 


1196 

1183 

150 

1*85 -00 


1196 

1190 

1590 

15619 —00 


1106 

MA4 

166)4 

1190 -00 


1198 

1578 

1198 

1592 —00 



1598 

lin 

15.97 —00 


N.T. 

N.T. 

AT. 

160 -00 


160 

160 

160 


Od 

N.T. 

N.T. 

N.T. 

160 —00 

Est. volume: 49.995. 

Open Int. 191152 


Icahn Acquires 6 . 6 % of^estern Co# 

HOUSTON (Reuters) — Western Co. of North Amenja 
Friday the Icahn Group had disclosed in * ^ 

change Commission filing that it held a6-6 JSSSsentaiioi,. 0 

oilfield service company and may st*k re P million ^ 
Western, the taiST of an SI&SO la ‘ LZu 

takeover offer from BJ Services Co., bad no un J T ^ t man ^ 
on the filing by Carl Icahn's investment group, a spokesman saw. 

Newell Buys Corning Unit in Europe 

FREEPORT. Illinois (AP) — Newell Co., maker of Uvdor 
blinds, Goody hair products and Fiber-Casteil perw . j* 

Coming Ina’s European-based cookware business, the two com- 
panies said Friday. They did not disclose twins. 

The deal also includes Coming's manufacturing phmtsin&ig- 
land, France and Germany and the right to use ^ 
trademarks Pyrex, Pyroflam and Visions m Europe, the Middle 

East and Africa, a statement said. . . M , 

Newell will also distribute in those regions the cookware ana 
dinncxwarc brands that Coming mmiufactures in the Umtoa 
States, including Revere Ware and Corclie. Coming had iyy_ 

sales of $4 billion. Newell’s 1993 sales totaled $1.6 billic 


fianW 

jwJiai 




\fihi 


<• t* 

-f* 

... t 

a. r rra6 

» It 


ion. 


Conversion Says Conflict Is Halted 

PASADENA, California (Bloomberg) — Conversion Indu* 
tries Inc. said it had taken steps to end a perceived conflict of 
interest by two directors that bad threatened the company s listing 
on the American Stock Exc han ge. ' 

William J. Gordica, chief executive of Beta Well, resigned 
Friday from the board of Conversion and D. Grant Macdonald, a ^ 
Conversion director, resigned from the board of Beta Well. A 
Conversion spokesman said the company had taken “some pretty 
strong action” to address the exchange's concerns. _ 1 

The exchange halted trading in Conversion and in Beta 
Well this week and said it may delist shares of the companies 
because of disclosure failures. Con version, which invests in small 
businesses and takes them public by selling stock to Conversion 
shareholders, said it owned 8.6 percent of Beta Well, an oil-field 
services company, as of June 30. I 

Wal-Mart Sets New Mexican Venture 

BENTONVILLE, Arkansas (Reuters) — Wal-Mart Stores Inc., 
the largest American retailer, and its Mexican joint venture 
partner Gfra SA de CV, have agreed to set up a chain of Dillard 
Department Stores in Mexico, the companies said Friday. 

The Wal-Mart/ Gfra venture will be a 50 percent partner, with 
Dillard owning the remaining 50 percent- Dillard will operate its 
department stores. The first store ls expected to open in late 1995 
in Monterrey. 

For the Record 

Sara Lee Corp. said it had agreed to acquire the stock of L. M. 
Sandler & Sons, plus the company’s interest in Consolidated 

V. . .... - - L-ZT. T W nnj Co-O T w'c 


jyhllt'id 

v.i * 



Housekeeping magazine after 19 years to become president of 
Hearst Magazines Enterprises, a division for the development of 
new magazines. (NYT) 


Texas Instruments Posts Record Results for Quarter 


Compiled by Our Staff From Dispatcher 

NEW YORK — Texas Instruments 
Inc. posted record third-quarter results 
Friday, driven by its semiconductor 
business, where orders surged, particu- 
larly in digital signal processing products 
and microprocessors. 

The company said it earned $186 mil- 
lion in the three mouths, a 27 percent 
increase from $ 146 million a year earlier. 
Earnings per share increased to $1.94 
from SI- 54. 


Revenue was $2.57 billion, up 19 per- 
cent from $2.16 billion. 

Texas Instruments stock was up $1.25, 
at $68,875 a share, Friday in New York. 

The 1993 third-quarter result included 
a one-time gain of 537 million from pat- 
ent licensing deals and a one-time tax 
gain of $17 million. 

Semiconductor orders were up from a 
year earlier and near the record levels of 
this year's second quarter, and the prod- 


uct mix continues to be favorable, the 
company said. 

Another segment of Tl’s business, de- 
fense electronics revenue, was flat and 
was expected to decline in the fourth 
quarter. 

The company also said it would start 
an eariy'retircmentiHogramimdhpanifor 
some employees next quarter. A charge 
for the severance will be reported for the 
fourth quarter. 

. (Bloomberg AP) 


i *t 
. V 
•si 

lr?A 


H* 

r-*:» 


. 1 "! 

■ rP 


i ~ 


• - £. •••■=' 
• - - li" 


MS: v, 

jsrt -4- ‘v* r 


WORLD STOCK MARKETS 


Agree* r . u i w Nona OeL T4 


Amsterdam 

ABN Amro Hid 58.10 57.40 


ACF Holding 
A*o«m 
AltoW 
ABO Nobel 
AMEV 

Boto-WMsanon 


E Savior 
Fokker 
GMt-Brocodos 
HBG 
Heine ken 
Hoooovrm 
Hunter Douglas 
IHCCaJand 
inter Mueller 
Inti Nederland 
KLM 
K«P BT 
KPN 
Nedllavd 
OcoGrfntm 
PBkltoed 
Pttitaa 
Polygram 
Robeco 
Rodamco 
Rollnco 
Koran lo 
Rovni Dutch 
Stork 
Unilever 
vanOmmeren 
VNU 


36 3570 
10350 Mil JO 
48JQ 48J0 
20430 20478 
6950 69.78 
3140 3170 
6750 6740 
14270 14278 
17.30 1740 
1570 1530 
44_5D 45 

2B4 278 

23870 23870 
76 7570 
79 78.10 
4160 4150 
94 9250 

79.10 7730 

46.90 4770 

5040 50 

5230 52M 
5970 58 

7650 7650 

46.10 46.10 

5530 5530 

7470 7160 
1U.10 115 

5050 50.90 
117JD 11840 
8240 8270 
1934019430 
45 4180 
200 20070 
46.90 4770 
177 176.90 


WOlrers/KNiw 12X20 126 

fSRSSn 3 Si w 


Brussels 


Almanll 

Arbed 

Borco 

oStaieri 

^| R B 

CNF 

Cockerm 

Co&epo 

Cotruvi 

Detaabe 

Eiectrabei 

twclratlno 

Partis AG 

CBL 

Gevaart 

ciavwttoi 

Immotel 

Kretflottrank 

Masane 

Petrgtlno 

Pgiwmn 

Redieoi 

Royal* Beige 
SoC Gen Bnnaue 
SocGe “ ‘ 
Safina 
Salvor 
Tossenderlo 
TredteSc! 

UCB 

Union Mlnlora 
Wagons Lit* 


7500 7390 
5000 4950 
2440 2490 
4070 4060 
23025 23675 
12125 12275 

2480 2450 

1975 1970 
194 198 

5370 5350 

7150 7100 

1230 1236 
5460 5450 
3060 3000 
2435 2450 
1244 1258 
3980 4040 
8920 8960 
4500 4550 

2830 28AO 

6090 6130 
1374 1480 
9670 9710 
3000 2875 
488 490 
4720 4800 

. 7700 7 £«Q 

Gen Betatoue 2200 2150 
12925 12925 

15500 15250 

9850 10325 
9460 9720 
24225 23975 

2670 2685 

6740 6790 




Frankfurt 


AEG _ 
Alcatel SEL 
Allianz Hold 
Altana 
AskO 
BASF 
Bam 


163 158 

307 300 
2365 2305 
66565730 
850 800 
320.90 315 

3BLM3SL50 


RtWfuneToll 

Scherino 

Siemens 

Thraen 

Varta 

Vetoa 

V6W 

V(og 

Volkswagen 

Walla 

pAX.Iadex: 


Close Prav, 

SU 280 
1000 991 

646 644 

29S29480 
312 31 
533L50531JD 
359J0354J0 
481J0482J0 
46146150 
1015 1015 




Helsinki 


Amer-Yhfvmo 

Efwg-Gufzcll 

Huhtamakl 

itap. 

Kymmene 

Metro 

Nokia 

Pohtota 

Reaaia 

Stockmann 


HEX Gaaeral 
Prev lues : m 


&r : 


101 

103 

4470 440 

149 

148 

1*40 

IB 

139 

10 

130 

145 

«W 

573 

72 

68 

101 

9*80 

265 

255 

as : 1 96177 


Hong Kong 

Bk East Asia 3X30 3X80 
Cathay Pacific 1180 UJ0 
Cheung Kong 37 37J0 
China Light Pw 4040 4020 
Dairy Farm inn 10.15 10J0 
Hong Lung Dev 13J5 13JD 
Hong Seng Bank 5350 3X75 
Henderson Land 49 M 

HK Air Ena. 3120 3X70 
HK China Gas 1445 1445 
HK Electric 2440 2450 
HK Land 19 JO 1955 

HK Realty Trust 19.40 19 JO 
HSBC Holdings 91 B8J5 
HK. Slung Hits 11 1IJH 
HK Telecomm 16.15 16JS 
HK Ferry 11 ia.90 

Hutch Whorrmoa 35.10 35.7TJ 
Hyson Day 20J5 20J5 

Jordlne Wattu 65 65 

JonUne Str HM 3X20 30 

Kowloon Motor 15 1465 
Mandarin Orient 1005 1CL20 

Miramar Hotel 19ns IU0 

New World Dev 2Sja 2S.W 
5HK Props 5725 57 

SMux US MO 

SwIrePocA 58 57.75 

Taj Cheung Pros 1040 10J0 


TV 

Wharf Hold 
Wheetock Co 
Wing On Co Inti 
Wlnsor Ind. 


415 415 
30JD 3060 
1645 1480 
1050 1035 
1020 1015 

WSiSEfiSSr**" 


Johannesburg 

AECI 
Aitech 
Anslo Amer 


BoV. Hvgotxn* 39050 385 ■ — 

B^veremuk GG 

377_.3aq 


27 J0 27 J0 

100 1D0 

237 232 

31 JO 3075 
NJL 1075 
NLA. NA 

101 100 
6X50 6423 
1430 1430 

127 JO 126 
4135 42 

30J5 3050 
6025 69 

31 31 

.4S.75 50 

1 1130 11 ISO 
85 5X75 
46 49 

3425 36 


5s rtowa 

Blyvoor 

Duffels 

□•Beers 

□rWorteto 

Geticnr 

GFSA 

Harmony 

High we kt stool 

Kloof 

Ned&ankCrp 
Ramffonloln 
Ruse lot 
5A Brews 
St Helena 
Sasot 

western Deep 


BMFGank 
| BMW 

iCsttunenBank 
Conilntntal 
Daimler Benz 


London 


Dt Babcock 
Deutsche Bank 
Dauaias 
Dresdner Bank 
Ffldmuthle 
f KrunpHaesch 


321 317 . 

236JD 239 
789 786 
48047950 
237 
722 712 


Honkel 
Hochtief 
Hcecrral 
Hotzmann 
Horten 
IWKA 

Kail Solz 

Karstadt 
Kaufliof 
KHD 

Kioeckw 
Unde 
Lufthansa 
MAN 

Maw mm mn 

MeialkHseil 

Muench Rueek 

Porsche 

Preussag 

PWA 

RWE 


39338950 

30030750 

304 
310 309 
STS S92 
978 992 
33X5032750 


2TS216J0 
358 356 

IS91S4JQ 
63062X50 
513 507 

128JM 12720 
Werke 147 JO 145 
886 885 
1853018540 
4T5 413 
407 <05 

in 162 

2900 2860 
085 687 
455 456 

215J0 241 , Fnr5 . 

467456.10 *^1* 


Abbey Nari 
Am*<i Ly« 

46H 

50 

era 

50 

Arid Wiggins 

252 

X60 

292 

20 

Ass Brit Foods 

UU 

574 

BAA 

56)7 

5.15 

BAe 

470 

46V 

Bank Sealless 

207 

20 

Barclays 

50 

57T 


577 

5.44 

BAT 

ASS 

497 

BET 

10 

10 

Blue Circle 

295 

295 

BOC Group 

697 

6.95 


£33 

£30 


473 

475 

BP 

473 

473 

Bril Airways 

3JJ 

394 

Brit Cat 

XM 

103 

Brit Steel 

1A7 

10 


194 

198 

BTR 

120 

129 

Caue wire 

*18 

474 

Cadbury Sch 

479 

4J9 


272 

274 

Cwta viyt*a 

119 

120 


£45 

595 

Ceurfawlds 

AM 

495 


370 

167 


IBS 

192 

Eurotunnel 

278 

149 

Fttons 

1.19 

1.18 

Fane 

233 

X36 


GEL 

CIOM 

293 

Prev 

X99 

Genl Acc 

581 

5.91 

Glaxo 

6.13 

66J1 

Grand Mel 

472 

473 

GRE 

197 

3 

Guinness 

498 

AM 

GUS 

Sao 

SM 

Henson 

237 

27 < 

Hllbdawn 

176 

171 

HSBCHMOS 

778 

771 

ICI 

793 

*11 

Inchcopc 

4.42 

491 

Klngflsner 

*90 

J 

Ladbroke 

10 

191 

Land Sec 

675 

621 

Laporte 

7.18 

/X 


191 

191 

Legal Gen Gro 

492 

444 

Lloyds Bank 

572 

574 

Marks So 

4.19 

475 

MEPC 

AA0 

444 

Nall Power 

<85 

495 

Mat West 

£84 

50 

NthWSt Water 

598 

543 


60 

673 

P8.0 

679 

671 

Pllklnaian 

10 

10 


544 

522 

Prudential 

109 

119 

Rank Ora 
RecfclttCOJ 

46)9 

4.13 

571 

570 

Red land 

Reed Hill 

40 

7 M 

473 

777 


470 


rmc Group 

975 

90 

Rolls Ravce 

10 

10 

Rolhmn limit) 

4613 

4 

Royal Soot 

4.14 

472 

RTZ 

m 

*98 

Sainsburr 

398 

4618 

Scot Newcas 

50 

5.14 

Soot Power 

145 

345 

Sear* 

10 

10 

Severn Trent 

£61 

543 

Shell 

777 

/74 

SMw 

545 

54/ 

Smith Nephew 

147 

145 

SmlthKUne B 

475 

477 

Smith fWH) 

443 

495 




Tata & Lrie 

478 

479 


275 

279 

Thorn EMI 

9.96 

HUM 

Tomkins 

219 

219 

TSB Group 

X16 

274 

Unilever 

1140 

MJO 

Jtd Biscuits 

30 

112 



217 

WOT Loon 3ft 

4143 

4149 

Nellegfne 



WlritBreod 

547 

594 

MjllunMHdBs 

377 

379 

Willis Carroon 

142 

145 


Madrid 


BBV 3215 3235 

Bco Centred HIsp. 3140 3105 
Banco Santander 5040 5120 


Banesto 
CEPSA 
Dragados 
E ndesa 
tram 
IbcrdroM 
ROPWl 
Tabacolera 
Telefonica 


81? 836 

3295 3225 
191S 1905 
5740 5840 
165 167 
,836 835 

3930 3985 
3250 323Q 
1760 1775 
.Index: 30X82 


Milan 


Atleonra 

Assltatlo 


16010 16380 
12SD0 12250 

^ 1628 1657 

Bco Agriealfuro ass 2695 
Bca Canuner Itol 3655 36S 
Bca Mac Lavgra 122151200 
Bat Pan Novara 7990 79io 
Banco tfl Rama 1689 1579 
Bod Ambroslana 3810 4020 
Boo NomHI rhP 1045 1030 
Benetton 
Credfg Hal tang 
ErUctwn Aug 
Ferfln 
Flat spa 
Flnora AgroJnd 
Fkimecamlca 
FondktriasM 
Generali Asslc 
IFIL 


IMcementl 
iMaas 
Mediobanca 
Manttduoh 
Olivetti 
Pirelli sen 
RA5 _ 
Rlnascente 


19950 20150 
1905 1985 
3000 2840 
1365 1397 
6320 6370 
9900 9500 
1150 1230 
1096011400 
37S50 38300 
5400 5490. 
1«88 10400 
4820 4890 
1317013400 
12M 1225 
1950 1927 
2315 2210 
19020 19<W 
8520 8650 


Son Paolo Torino 8980 9035 
5IP 4110 4295 

SME 3835 3850 

SnJabpa _»90 TOO 

Standa 34400 32500 

stet 4540 4530 

Toro Asslc 24350 25050 

Kyy 5 MB :,nw 


Montreal 

AtCOLWI , 

Book Moijml i 

BCE Mobile Com 39W 39W 
CdnTlne A Wk tl»* 


dose Prev. 


Cdn Util A 

Cascades 
Crnvmx Inc 
CTHnl 5vc 
Gaz Metro 
Gt West LHecs 

Hces InM Bcp 

Hudson’s Bav Ca 271s 27% 
imasaaLtd TTVz 37W 
investors Grp Inc 1646 16to 
Labatt (John) 21W 21ft 
LoblawCos 
Motion A 
Natl Bk Canada 

OshawaA ... 

Poncdn Petrotm 41* 42ft 
Power Corp 18ft j; 
Power Flm 2816 28ft 
QuottacgrB 17% 17ft 
Rogers Comm B 2016 20ft 
Royal BkCda 28% 28% 
Setxs Canada Inc 8% 8% 

Shell Cda A 4 4V. 45 

sauthamlnc 16 15% 
Stetco A 8% 8% 

Triton Flnl A X70 3% 


23% 23% 
7% 

1816 18ft 

18 

12% 12ft 
20 % 20 % 
13ft 13ft 


22ft 22% 
21 21% 
9ft 9ft 
19ft 19% 


Paris 

Accor 577 591 

Air Ltaulde 737 746 

Alcatel AMlwm 47360 478 

Axa 25250 256^40 

Boncalre (del 5» 535 

BIC 657 669 

BNP 260 259 JO 

Bounties 578 560 

Do none 736 748 

COrrefour 2239 2269 

CCF. 21*50 22190 

tain HI5 106 

Oharaeura 1334 1348 

aments Franc 3B5 28750 

Club Med 439 446 

EH-Aau Italne 385^0396.10 
Euro Disney 755 7S5 

Gen. Eflux 4*600 494J0 

Havas 43442BJD 

metal 562 590 

Lafarge Caapee 415J041220 


Learand 
Lyon. Ecux 

esatt’ 

Malro-Hochefte 


MlcMInB 
Moulinex ■ 
Paribas r 


7000 7090 
493 506 

lira 1137 
87V 882 

106 1 07 JO 
233 23X10 
118 118 
356 357.50 


Pech tawylntl 15*80 15L20 

Pemad-RIcard 304.10 309 JD 

Peugeot 788 795 

PlnauH Print 9S1 980 

R oatotachntaue 

RlvPpwlenc A 126 12*90 


Rofisr. Lurts 
Sonofl 

Salni Gobatn 
S.E.B. 

Sle Generate 
Suez 

ThomsofvC3F 

Total 

UAP. 

Valeo 


1426 1458 
250.10 2S4J0 
661 172 

533 MD 
582 588 

252JD255J0 
15070 15DJ0 
32X30 334JD 
13*20 13*20 
281 JO 285 




Sao Paulo 


Banco do Brasil 1X01 iui 
B cmnna 9J0 960 

Bradesco 
Sredma 
Cemlg 
Etelr^raE 
itoutaico 
Light 

Poranaponema 
Pefrobras 
Sauza Cruz 
Telebras 
Telesp 
Usiminas 
Vote Rla Dace 
vartg 


880 BAD 
300 278 
07.10 89 

307 325 

285 303 

330341.99 
12J0 11 JO 
134 137 
743 740 
4X50 4*50 
420 410 

U 7 1JS 

16X50 166 

200 200 


Singapore 

Asia Poc Brow 1*80 1640 

xis &is 

aty Devetepmnt BJS BJD 
Cycle & Carriage M2D 1*10 
DBS 1U0 1080 

DBS L ttad *84 *78 

FELevjnsston 7 *95 
Fraser & Nmw 17 jo 17J9 
Gt Eostn Lite 27 JO 28 
Hong Leons Pin 4J2 *48 
incncope 5J0 *50 

Juranoaj^wd 1X40 1X70 


dose Prev. 

5lns Land 9J5 9 J5 

Sins PetUn 250 251 

Sing Press torn 2*30 26 

Sing Shtabkto 2J0 2J9 

Sing Telecomm X2S X24 

Strain steam 5L20 sjs 

Straits Trading 4 3J» 

Tat Lee Bank *44 *44 

UW Industrial 1A9 1AJ 

Uld 0*900 Bk lorn 1*70 1*70 

Uid ogeas Lend 2.94 X9tJ 

Z 2377 JO 


Stockholm 


AGA 

6690 

67 

AseaAF 

541 

540 

Astra AF 

1871870 


97 9490 


380 

371 


419 

42! 


9*50 

95 

i:.~rnr-Tv.i id 

92 9X50 


180 

179 

Norsk Hydro 

3622090 


13590 

135 


11*50 

117 

SCA-A 

1170 

117 

S-E Sunken AF 

47 47.10 

SkandkiF 

1301280 

Skanska BF 

1480 

148 

3KF BF 

13S0 

133 

store AF 

425 

425 

Trelleborg BF 

10501040 

Volvo BF 

1420 

142 




Sydney 

*62 IM 
in 178 
1*76 1934 
136 132 
1415 1416 
*15 *11 
575 *39 
1*90 1*66 
4*5 4J39 
1.18 1.19 
126 124 
1094 1090 
176 175 
273 273 
1X20 1854 
*25 *17 
378 195 
142 166 

4 4.03 

131 124 


Amcor 
At a 
8HP 
Boral 

Bougainville 
Coles Myer 
Comal co 
CRA 
CSR 

Posters Brew 
Goodman Field 
1CI Australia 
Magellan 
MIM 

Nat Aust Bank 
News Corp 
Nine Network 
N Broken Hill 
Poc Dunlop 
Pioneer Inn 
Nmncfy Posekton 225 242 

wSterr i Minins 779 8 

westpoc Banking *g 
Woodswe *68 *62 


Tokyo 

Akal Electr 
Asabl Chemical 
Asow Glass 
Banket Tokva 

n J J - - - ■ 

WTOpMlOfH 

Canon 
Casio 


£3 433 
784 780 
1OT 1260 
1520 1550 
JOT 1520 
1770 1790 
OT3 1258) 


Dol Nippon Print 1810 16® 

Dalwa House 1370 1390 

Dalwa Securities 1450 1460 

Faroe 4750 4740 

IBank 2160 2349 

I Photo 2220 2240 

.JHSU HOO 1100 

Hitachi 996 ISIS 

Hitachi Cable 872 863 

Honda ITTo ira 

ItOYokodo 5350 5350 

llochu 75 2 742 

Japan Airlines 749 748 

Kallma 990 1010 

Kama! Power 2470 2480 

Kawasaki Stoel 4 « 452 

Kirin Brewery 1140 1170 

Komatsu 906 908 

Kubota 719 715 

Kyocera 7410 7360 

Matsu Elec Inds 1678 1690 

Matsu Elec Wks W80 1DU 

Mitsubishi Bk 2490 2570 

Mi bub Chemical 583 576 

MHsuhJsni EMC 729 730 

Mitsubishi Hey 794 794 

1260 1260 
857 858 
766 7*g 

.940 939 
1390 1410 
1260 1270 
1040 1060 




Kay hi 

Kernel 
Natal reJ 
Neptune Orient 
OCHC foreign 
Oteas Union Bk 


1J4 W4 
1X10 1250 
124 3L20 
223 224 
1*80 1450 
7.15 7.10 


D^HOf union Ent 8JD *15 

Se mb owcn s H50 iijo 

sune Staaopora 1.19 i.ie 

Sing Aerospace 236 235 

Sing Airlines tarn 1350 1X50 
Sing Bin Svc 9 JO 9 JO 


Ca 

Mitsui Marine 
MtaukMtd 
Mitsumi 
NEC 

NtJK insulatars 

Nlkka Securities IU0 1170 
Nippon Kogakd 995 969 
Nippon OH 

Nippon Steel 

msf Y “ n 

Nomura Sec 

NTT 

Olympus optical ion lira 
Pioneer 2490 2490 

RlODh 980 988 

sanra Elec sas sm 
Sharp 182Q 1830 

Shbnazu 732 736 

SMnctauChem 2060 2050 


<85 693 
388 395 
655 650 
816 819 
2060 2100 
B860a 8830a 


Sony 

Sumitomo Bk 
Sumitomo diem 
Sumi Marine 
Sumitomo Metal 
Taisei Coro 
TokedaChem 
TDK 
Tallin 

Tokyo Marine 
Tokyo Elec Pw 
Toppan Printing 
Tway Ind. 


Tar try in 
Toshiba 
Toyota 
Yamalchl Sec 
a: x m 

Nikkei 225-^990 


dose Prev. 

5970 5970 
1840 1900 
580 580 

880 887 

356 350 

639 640 

1210 1210 
4620 4590 
555 548 

1150 1140 
2830 2950 
1420 1440 
700 782 

774 771 

2070 2090 
792 790 


Previous : 2 
Tophcmtox 




Toronto 

Abitlbl Price 18% 

Air Ctroda 7% 

Alberta Energy 20 

Alcan Aluminum 37ft 

Amer Barrlck 34ft 

Avenor 

Bk Nava Scotia 
BCE 

BC Teleaxnrn 
Bombardier B 
B romate a 
Brascan A 
Cameco 
CISC . 

Cdn Natural Res 
CdnOccU Pel 
Cdn Pacific 
cascades Paper 
ComlncD 


25ft 

26% 

48ft 

25*. 

22% 

*15 

19 

27% 

31% 

16 

30% 

22 % 

5% 

24% 


Consumers Gas 16% 
23ft 
13% 
20ft 


Dataset) 

Daman Ind B 
Du Pont Cda A 
Echo Bav Mines 17% 
Empire C* A 13% 

Rrioonbrldoe 22ft 

Fletcher Chall A 18% 


Franco Nevada 

Guardian Cap A 
Hem to Gold 
Haraham 
imperial Oil 
Inca 

IPL Energy 
Loc Minerals 
Lakh aw A 
La know B 
Loew en Group 
London irnurGp 
' BloedeT 


86 ft 
8ft 
14% 
20 % 
45% 

16ft 

lift 

lift 

31% 

22% 

18ft 

51 

Tift 

26 


Macmlll 

Magna Inti A 
Maale Leal Fds 
Moore 
Newbrldoe Netw 43ft 
Norandalnc 26 
Norcnto Forest 11% 
Norcen Energy 17ft 
N thorn Telecom 48 
Nova 14% 

Onex 13% 

Petra Canada 11% 
Placer Dame 31% 
Potash CorpSosk 48% 
Provfgo 5% 

PWA 

Ouebecor Print 14ft 
W enp fts once Eny 23ft 
RMAigem 
Seagram Co 
Start* ConsoW 
Talisman Eny 
Trieotobe 

Telus 
Thomson 
ToTDom Bank 
Transalta 
TransCda Pipe 
Utd Dominion 
UidWesibutne 
Wtastaxst Env 
Wasson 
Xerox Conodo B 49% 
TSEOT... 

Provfctos : 


25% 

41% 

17% 

28% 

17 

16% 

16% 

20ft 

Mft 

17% 

26% 

IDft 

21% 

40% 


19% 

7% 

20ft 

36% 

34% 

26ft 

26% 

48ft 

26 

22 % 

X9S 

19 

28ft 

31% 

16% 

30% 

22% 

5% 

24ft 

1G% 

23V. 

13 

19ft 

17% 

13ft 

21 % 

19ft 

85% 

8ft 

14% 

21ft 

46ft 

38% 

28% 

16% 

lift. 

lift 1 

31% 

26ft 

44% 

25% 

11% 

17% 

47ft 

14ft 

13% 

11% 

32 

50ft 

5% 

040 

HI* 

28% 

25% 

41 

17% 

» 

16% 

16% 

16ft 

20% 

14% 

17% 

27 

vn 

21% 

40% 

51 


Zurich 


Adki InH B 231 224 

Alusubse B new 650 642 

BBC Brwn Bov B lias ms 

OboCetey B 726 >22 

C5 Holdings B 553 549 

EWrtrewB 335 337 

Fischer B 1500 1550 

interdbawnt B 1980 1980 

Jelmall B 878 B7B 

LW*s Gyr R 750 740 

MoeveiwlcfcB 388 387 

Nestle R 1204 1211 

Oerilk-B uehrie R 13150131 JO 
Paraesa Hid B USD isoa 

RecheJtdg PC seas 5940 

Satra Republic 95 98 

5andaz B 665 671 

SdilndtarB 7600 WfiS 

Sulzer PC 872 873 

SurveilkmerB 1890 1890 

SwtesankCorpB 371 375 

Swiss Relnsur R 7tu 700 

SwtawlrR 850 065 

UBS B 1285 1259 

WbderitwrB 630 69 

Zurich Ass B 1200 1301 

SBC Index: 921.M 
Prrrioos : m.19 


U.S. FUTURES 


ft AuodeM 


Oa.14 


Season Season 
High Low 


Open High Low Close Ota OnM 


Grains 

WHEAT (OWD SjMrenwWnum-ctainiwlMM 
*10% 10 Dec 94 40 40 XMft 40ft 

426ft 327 Mor 95 *11 *19 40 *llft 

30ft X16ftM0V9SXU 1979, 10% 192ft 

163ft 111 Jd95 351ft XSB 150ft 157% 

165 XJ1ft5aP95 156 161 3J6 161 

175 155 Dec 95 30 170ft 30 170V. 

154ft 146 JUI96 147% 

Ed. sales 3000 Thu^. soles 2*834 
TH/s open W B12&3 oh 302 

WHEAT OCBOT) SSOObu mtatowv oonarmowDomw 
423ft 11 2ft Dec 94 405ft *13 404 *12% 

427ft 125 MOT 95 *10 4 Tift 408% *17% 

403 121ftMoy9S 30 1% 30ft 198 

161ft 116ft Jul 95 15<ft 30 ft 155 162ft 

177 129 SeP 95 160 165 160 3J5 

30ft 160ftDec95 172 

Est sales HA. Thu's, iitas *963 
Thu’s open kit 3*719 up Ml 
CORN (CBOT) iOOOOu iMnn- OWar, mrOuOTW 
177 2.13ft DeC« 115% 2J0 115% 117ft 

20ft 223ftMor95 2JS% 20 125% 227% 

230ft MOY 95 233ft 23Bft 133% 235ft 

235% Jul 95 139 143 138% 2.*% 

20 Sep 93 243 146ft 145 146 

235ft Dec 95 20 ZJlft 148% 20 

150ft MarW 2JS% 157 255% 254% 

2J5ftJu<96 243 144ft 243 243ft 

Ed. sal es HOMO Hu's, sales 22,130 
TlR/sooenlnt 241357 up 1735 
SOYBBANS (CBOT) 54WbunMmum.MnBerbu 
7.57ft 536%N0VM 534% 5*2 534 50ft 

537ftJan93 J*Sft 153 545ft 50ft 

S*7ftMcx , 9S 50 50 5L55 538% 

£56 MOV 95 543 5J0 £43 546% 

543MJI495 £70 576ft 570 533ft 

546ft AUB 95 575ft 579 573ft 534ft 

571 Sep 95 £77 50 577 571ft 

STB ft NOV 93 544 592 £84 547 

__ 599ft JUl » 647 SJJ7V, 60% 60% 

Ext. sales cuna Thu’s, hubs 32,139 
Thu’s open ire 154362 alt VIS 
SOYBEAN MEAL (CBOT) Uto-Mnnrn 
2070 15900094 100 164*0 1620 1(070 

IMJODCCW 16230 16470 162.10 16U0 

161. 90 Jen 95 KUO 1650 1630 16490 

16490 Mar 95 16AS0 16*80 1660 ! 67.90 

1S70MOV75 1700 1710 1690 17*90 

17*70 Jul 95 1710 1740 17270 17430 

I720AUP95 1750 17*10 77*50 1750 

17130 Sep 9S 1770 1770 1770 1770 

175.60 Ori 95 1780 1790 17*40 1790 

1760 DeC 95 101.10 181.10 111.10 181.10 

Est. sales 1000 Thu's, sri-s 14jn 
Thu's open Inf «*7« up 199 
SOYBEANon. ICP cm «unM-M<nwiPfe>. 
290 22.10 Oct 94 2575 2598 2570 2596 

2*87 220 DeC 94 2422 

2*33 2245 Jan 95 2345 

2*30 
2*06 
3743 
270 
1475 
WM 
TIBS 


243 

245ft 

2J0ft 

163 

2J6U 

242% 


70 

70 

7J15ft 

70ft 

*12 

*15 

630ft 

*21 


090 

2870 

2070 

2070 

20*0 

18240 

18270 

1810 

1820 


2291 Mar 95 ZLG 
22*3 May w a.« 

2276 Jul 95 210 

2273AU09S 210 
22TSSep95 230 
227500 95 2125 
22J0 DeC 95 H15 2116 


2495 

24.16 

2492 

7395 

2343 

2348 

2X97 

2127 

2372 

2343 

2110 

2113 


2290 


ms 

2295 

2295 


2X85 

2245 

2125 

2X11 

2241 


EsLsotes 1900 Thuf* sate 17J19 
Thu'S open U 83.933 off 1991 


7ZK 22J0 


HUB 4*016 
*00 2X077 

+00 U26 

MUETm M97 
♦ 0JH 311 
>00% 130 

* 00 % 6 


+106% 2205 
+00 12J83 

♦ 00ft 1JBS 
+X04ft 2438 
+*05 73 

+00 Vi 5 


+00 12*573 
+O.B2 51460 

♦ 00 22428 

+*0 25546 

+8JBft 1,956 
+*01ft 1006 
+*01ft 174 

+*01 261 


+00% 72,970 
+*0 31457 
+00% 1*915 
+00 8443 

+*0« 1*776 
,00 702 

+*04Vt 281 

+003% 5737 
+00% 17 


+10 1337 
+ IJD 43497 
+10 15960 
+ 10 12797 
+10 7419 
+1-70 6429 
+ 10 1412 
♦10 908 

+10 1(083 
+140 701 


+028 1755 
+035 35,133 
+U4 1109 
+006 12(734 
9(390 
—00 *476 
-00 111J 
-«0 1.101 
-0.11 728 

—0.10 9S 


Livestock 

CATTLE K3MB0 4000ft4-eeRSB«rl* 

7410 *5J0OaM OM 045 6747 

740 670De694 6*67 69.17 6845 

7*25 6645 Fetf 95 6745 680 6742 

7510 67.27 Apr 95 67.90 6*23 670 

690 *420 Jun 96 640 6492 *430 

6*10 6340AU095 6195 *415 <185 

S7J5 6420OC19S 6475 *475 1 *475 

EsI.Htos 13449 Thu'J.sate 11434 
Tier’s open Int 6*4*3 oft 824 
FSOGRCATTIB (0*01) suan-Msi 
110 7095 0d 94 TUB 7185 7245 

880 71 95 NOV 94 720 7105 7245 

8*95 71 40 JOT 95 7240 7277 720 

80S 7*35 Mar 93 710 710 7195 

7*90 70.10 Apr 95 71.H 710 7*W 

7*0 690May9S 7*40 7*30 7*35 

7105 690 Aug 95 7040 7045 700 

7*15 *9*0 Sep 94 690 690 *90 

ESLsate 1449 ws-sete 1444 
Ttirsopenint *912 off 201 
hogs icm _ 

49.75 3347 OaM 3140 330 3113 

5*50 3455 DeC 94 3445 34.75 3347 

5*80 3647 F(b 95 3L75 36J5 36.10 

480 360ATV9S 37JS 3745 3*45 

470 421 5 Jun 95 420 420 4212 

4S0 4112 Jul 95 420 410 4122 

4140 41 JO Aug 95 420 420 41 40 

4*9 39.02 Od 95 39.12 39.13 3*82 

410 390Dec9S 39J0 »0 390 

Esl sales 7,964 Ttai'i site 103 
"Phi'S open int 31JW * 300 
PORK BELLIES (CMER) AKBKi-cranr 
4*0 380 Fab 95 39.15 39.15 310 

KUO 3120 Mar 95 310 390 3*0 

61.15 3942*40995 «.W 4J.M 39 JJ 

540 4O0JUI9S 41. W 4LU 4*52 

440 390AUI9S 39 A0 39.70 3940 

Est. sales 1444 Thu's, soles 1433 
Thu’sapreM 1*106 MB 361 


67 JD 

sun 

*70 


7237 

7197 

720 

71.35 

7*95 

7*g 

700 

49JS 


3212 

330 

3U0 

3*70 

4L4 

4135 

410 

3U5 

3U7 


3841 

3847 

390 

4*70 

3945 


-*10 540 
+*37 27,917 
+*23 16.997 
11.169 
30* 
♦ OJB 1J23 
+0JB 191 


— *38 1J27 
-00 4JJ7 
-035 1J04 
-030 587 

-032 427 

— *10 270 

— *15 a 
— *30 1 


—10 1,134 
—10 17,167 
-042 *368 
-062 3384 
-*0 143S 
-00 <31 

-*25 277 

—437 U4 
—033 34 


-40 8461 
— *98 870 

—Ain 299 
—*35 255 
—473 61 


Food 

CDffiCC PICSO Woies-eMinrh 

24435 77.10 [X M 1870 1900 11575 18*35 -635 14JS3 

2440 7*90 Mar 95 1930 1940 1907S 19275 — &0 1*900 

2440 O20Mav95 I960 1770 1910 HITS —555 4,220 

24510 B50Jri« 1970 1990 19545 19*75 — 14S 144 

ram iBSJOSepW HUB 19935 1970 1970 -475 80S 
2420 810D«c9S I MTS 2010 19*0 1990 -520 *Q 

1970 1970MqrW . 1010 -470 10 

w wt 7496 ThTsita MSS 
W?«SnW31«» a" 611 
SUBAR-WOtaJD 11 (NCSE7 lltM%.ansRrfe. 

H30 W7Mur*5 1233 1X60 1X33 1257 »*3S 80404 

12*5 1037 Mav 95 1238 1160 1238 1X0 +034 17,719 

IXB 1*57 Jul 95 U36 1236 1230 120 +02112471 


Seam 

Season 






Wg ti 

low Open 

Won 

Law 

Oase 

Ota 

Op. M 

1129 

1*570095 1X04 

1X23 

1X04 

1X23 

+032 

9446 

126)0 

lOraMa-M 1178 

IUS 

lira 

110 

+*» 

1439 

110 

11. 18 May 96 



110 

+ *18 

1 

lira 

lira jm 96 



110 

+*ll 

5 

Est. sain 21712 Thu's, sate 5414 




Thu's aoan tot 12X113 on 






COCOS 





1580 

1041 Dec *4 1254 

1274 

1246 

1369 

+313X442 

1605 

1077 Mar 95 1307 

I3M 

1198 

1320 

+23 21,171 



1351 

1X10 

1330 

+25 

7351 

1600 

1225 Jul 95 U67 

1367 

13C7 

1379 

+23 

1921 


1388500 95 1390 

lira 

1381 

MB 

♦ 25 

1382 

1633 

1290 Dec 95 1420 

1420 

M20 

1441 

♦35 

4%0 

106 

133DMW96 



1477 

+35 

3360 

1442 

1225 MOV 96 




+2S 

312 


Jut 9* 



1530 

+25 

11 

Ed. solas 6771 Hurt- mta 

9,139 





1 Hu's cum tot 74431 off 100 





ORANGE JUKE (NCTN) liaaoiw.- 

WWtfsrto. 



13400 

8510 Nov 94 990 

10535 

990 

104)0 

+90 

5332 

13X00 

00 Jan 95 1030 

10435 

10150 

10425 

+50 

7441 

1247S 

930 Mar 95 107 JO 

1070 

leora 

10730 

+50 

4.137 

11435 

970 May 95 11*70 

11*70 

11038 

11038 

+50 

1301 

1190 

10*50 Jul 95 HOLDS 

1140 

1140 

1140 

+50 

639 


10735 Sep 93 11X75 

11735 

11735 

11735 

+50 

332 

11590 

1090 NOV 95 12*0 

1200 

1200 

ltew 

+50 


1110 

1050 Jan 96 1220 

1220 

1220 

1220 

+50 



Alar 96 



11X50 

—50 


Ed-wtai NA. Thu's. sales 

300 





| iiu'sapcnre zuno up 556 






Metals 




HI GRADE COPPER (NC MX] 

swoobfc- c« per b. 



inra 

7£75Dec94 1140 

1140 

11X10 

11430 

+00 39,156 

1180 

760 Jen 95 11170 

11330 

11130 

17335 

+ 00 


11740 

730 Feb 93 1130 

11X15 

inra 

11170 

+00 


1170 

730 Mar 95 11X40 

1120 

1110 

11X80 

+00 

7.794 


76J&MOVV5 11230 

11230 

11X30 

11X00 

+*40 


1R70 

7X0 Jul 95 



1110 

+00 

1418 

11370 

77.10 SflP 95 



nora 

♦ 030 

16® 


7500093 1160 




+145 


11*80 

77J3Nc« +5 11195 

1140 

11195 

1150 

+00 

1367 

11975 

180 Dec 95 1090 

1090 

10*60 

10930 

+*70 

16*8 

1080 

800 Jon 96 



00 

+*70 


11070 

6X70 Mw 96 



1070 

+038 


11450 

91 .M Apr 9* 



11X40 

+045 


1090 

1070 May 96 



1070 

+030 


11570 

104.10 Jul 96 



11130 

+045 



Jul 96 



10655 

+030 


nxo5 

mraAugvi 



11)0 

+00 


Etf.«Ses 670 Hu's. sans 

£795 





1 Thu’s ooen tot 5*377 off 595 





SH-VBs 




MLS 

S11J00 94 



5349 




NOV 91 



5363 

+02 


59761 

3B061 Pec 94 54061 

5436) 

53L0 

5363 

+X2 *54*7 


«16IJcn95 



5413 

+03 

53 

6040 

41i5M<r 95 54*0 

551-5 

SALS 

5473 

+03 11517 1 

6069 

41*0 May 95 5546) 

5573 

55 U 

55X3 



4106) 

42*03495 559J 

559J 

559J 

sas 

+03 

303 


53U5CP95 SOU 

S67J) 

56661 

5A£9 





snj 

5763 

5753 

+012 



57£OJvi96 



57*9 










5*76) 

5870 May 96 



593 3 

+03 



Jul 96 



60*9 



l Est. soles 1600 Hu'S, st* 

57367 




Wsopenlnt 114,766 off 3244 





PLATMIM (NMER) ffirweb-Mb 




43SA0 

UBJHOdM 4M0 

4140 

4130 




43£50 

3740 Jan 95 41730 

4H0 

4160 



4»0 

3900 Aw 95 4210 

Anim 

4210 

4210 



4350 

4190 Jul 95 4240 


42430 

42150 



6343) 

4220 Oct 95 4270 

4270 

4270 

4280 

+10 


43J0 

4390 Jan 96 



1310 

+ 10 


Ed. sates 3769 Thu's, sates 











SOLD (NCMX) too iwb. Waters par 





4170 

3440 Oct +4 39X0 

3880 

3070 

3870 

*10 



Nav94 



38*0 

+140 



3430 Dec 94 3890 

39*50 

30930 



4110 

2fiL0Feb95 3920 

39160 

3920 



4170 

3640 Aw 95 3960 

397.10 

3960 


♦ 10 



361 30 Jun 95 4000 


40*08 




3800 Aug 93 




♦ 10 



40100095 







40*0 Dec 9S 



Vr^vM 




41*30 Apr 96 






4310 

41 30 Jun 96 







AmoW 






ESLSOes 2000 Thu'S. totes 47,925 




Thu's open tot 1906 off 3254 






Rnandal 


+0JH 1*400 
+0JM *992 
+0JD 2743 
**81 j 


US T. BILLS (CMER) TrmBRgn-pOeMHpa. 

9*10 9435 Dec 94 9*61 9473 940 94J9 

9198 Mar 95 HH 9432 94.19 9136 

9434 91*4 Jun « 9X06 930 91H 9187 

9337 9335 Sep 95 9X56 

E». sate HA. Thu's, staes 4,934 
Thu's open Int 3*147 eft 523 
5 JriX TREASURY (CB43T1 HKMHM-pi*awyMM 

Dec Ml 02-045 102-17 102-42 107-15 * ” 174,950 

110-49100-245 Mir 95101 -305 101-29 101-19 101-275+ W 2SS 
M.tees S1J0Q TTWLsate 41438 
Thu'sepenint 177749 up 3069 

10 YR. TREASURY (CBOT) tnO0Oprii|-MI*BMl« HBua 
114-21 MO-44 DK 94101-18 101-41 101-0 101-39 + ga Mwi 

m-W 99-13 Mof 95100-24 Ml -07 100-24 101-04 + Ot *§4 

BMl 91-24 Jun9S 100-14 + DO in 

101-06 98-20 Sep 95 S 9 

1IMI 91-10 DSC 95 79-06 + « 3 

10001 Thu's-ntac 10X331 
TN/Saoen M 2*9357 off 2117 

IS TREASURY BOMS (CBOT) Moa-ilWi.aM-et.mmw mam 

£3 « S£%S- 1 S SS B 3 Si nrs 

112-15 9*S &5« W " W W_1B n3l ^ n 11 -SI 

m* ^ ss : S 1 

Mira 9445 Jun 9* S 2 

ES-JOtes 50*000 Thu'S. lofts 47*737 a 

Th u'sepe nint 44XK0 up 6416 

MlMl^nULROMX (CBOT) ilkftlin+wklMitilggM 
2‘H D**:** 7 - 01 87-34 86-34 ■»-" .<? ■-. 

88-09 84-0 Mur 9586-11 86-12 8M7 84-12 ’ S 
a.«tas 500 TTer's.Htat *332 W 353 

Thu'sepenint 2*723 up 56 
EURODoLuub tCMeJUv nwi ms aMaaea 

9X180 5*710 Drew 9 W *L1*0 9400 94,130 * to 40 on 

9*240Mar9S 9X690 9X790 man 9X740 IJflSStal 

9*710Junf5 9X290 93390 9J3W 

91J105®i 9S 92.970 9X070 9XM0 S 

91.110 Dec 9S 9X670 9X740 9200 *SM JffllSjS 

9*70 Mar 96 9200 9XM0 92J0 7X40 +0 «9H 


95500 
1 9473DI 
94J0 
194380 
94320 


Season Season 
Htoh Low 


Open Mob Law Oase Chfl Op-M 


9X340 Jun 96 9X470 9X560 7X420 9X520 
' 9X320 92A10 


+« 123369 
14011X515 


BRITISH POUND (CMER) iflWMunO- 1 ■KMreunsamn 
1000 L4S0DK94 1 JB0B 1J95* 1066 1J9X -82 4X346 

l.Sim 1 .4640 M* 95 1J9D0 1J950 1J860 1016 -82 3*5 

1000 . U348AX19S 1082 -83 I 

&». softs NX Thu's, nta* 10JM 
Thuta open Ira 4X719 up 6M 

CANADIAN DOLLAR (CMBU 1 PWOft 1 WtoCI 

*7670 07038 Dee 74 *7400 *7403 07371 07382 —11 39,364 

*7405 QJlHOMarfS *7394 07396 *7373 *7J77 —19 1,299 

075D 0090 Jun 95 OJ368 *7370 *73*5 0J3U —19 SIX 

*7438 0A965S4P9S *730 *7X0 *7350 *730 -30 391 

*7400 *7040 Dec 95 *7350 0230 *7330 *7333 -20 29 

ESL SOftS NX Thu'S. KJfc* 1X043 
Thu's open int 41A55 afl 1710 
CSMANUARK (CMQ« idv mant-1 aafttaquriitojatl 
*6404 *5590 Dec 94 *4523 *60* *4523 0082 +® 79JH 

*4595 *01OMOT95 *6566 *6606 06566 *6581 -0 E011 

06595 0J9ajun9S 0A403 +57 611 

a4S40 *6347 Sep 95 *6616 +0 75 

Est. sate NX Thu's, sales 36474 
Thu's open W 1*0*9 up 3161 
JAPAfESEYBI (CMER) 1 nwywv- 1 uoevrejctoSAitOaOi 
*010«aU»9S2SD6e94aj)ll)099*010245*010099*01D2» +10 57^ 
*01 05idU1096BOMar 95 *01 021 9*01 RDOOlOIQI 19*01031* +140 
QjO1 O6IW 09776Jun95 *010410 +14] 4M 

DJJ10775DJn05D0SflD05 *010490*010490*010490*010500 +144 06 

0jno66aun044iDec9S *01058? +144 11 

EsLsitas NX Thu's. sales 0J82 
W s ooen int 634*4 up 193 
SWISS FRANC (CMER) j per Hrec-l m i U eeu u li W JC9I 
*790 *460 Dec 94 *70*5 07947 *7B*5 07937 +92 34.119 

07925 *7420Mor« *7920 *7975 *7925 07967 +92 9*6 

97955 *74*6 Jun 95 0J97* *8000 07979 *7999 +92 54 

S8P 95 *8029 + 92 2 

EsLseSes NX Thu's, soft* 1*071 
Thu’s open Ini 35121 off 147 




Industrials 

COTTON! (NCTN) ShaaaftL- omfteerB. 

7735 00 Dec 94 WAS OJA 6*90 69.14 

7*15 6X9 Mar 95 7*40 71 JO 7025 7*45 

7J55 440May9S 7126 7X25 7125 710 

W75 *9 JO Ail 95 7170 7175 7170 7X0 

«70 44JOOtfK WA0 6970 WAH WM 

5E 6170 «JS 6870 M.T7 

030 680MO-96 49.9a 

at .softs NX ThU’LSdtaS 7J47 
Wsopenlnt 5*571 up 0 

HEATING CHL CNMER) 4S0O«4-«n» H -pW 
WJ 460WM94 4*0 <7.49 4*0 460 

STJIO 460 Dec 94 470 4173 470 470 

6225 4325 Jan 95 480 490 400 

5*73 4725 Feb 93 49J5 49.S5 

57-50 C0 Mar 95 49 JS 4970 00 «9js 

55-15 0.05 Aw »S 49 JO 49.10 49.10 

5L30 47J0 May 95 49.10 49.10 00 490 

53.50 4629 Jim 95 065 065 OJ5 4*60 

5430 4733 Jul 93 Off ^ 

5110 4*45 5«p 95 5*4S 5*50 5(U5 500 

, SS30DBC9S 5X30 3130 530 JJJQ 

a-tate tt771 Thu’s, softs 5*046 
Thu's ope n int 16800 up <23 
LIGHT SWEET OHJDE (HMD)) intsuMinw 
KM 1433 Now 94 1738 17.19 1*91 uJT 

1493 Dec 94 17.17 1727 1731 17.09 

JiTSJanW 1726 170 17.14 170 

1521 Fee 95 1723 170 17.1| 1721 

1542 Mar 95 1727 170 1722 1724 

1 £55 Aw 95 170 170 170 {JS 

1S39MOV95 170 170 17 J7 1731 

1 £73 Jun 95 17 JO 17 Jo 170 5 

1635 JU9S 170 170 170 170 

T6.16AU0 95 17 JO 17J1 170 7« 

170 Sep 95 170 170 170 70 

160 Oct 95 170 170 1723 170 

17.15 Nov 95 170 170 170 17JI 

14JPDec« 170 170 170 { f 0 

17.05 Jan 96 17J2 17.72 1723 170 

l*19F4b« 1725 1725 1725 170 

17.1SM0TW 17.7S 170 17JJ 1721 

l*l7Apr96 1727 170 170 17J4 

’iSSSX »■ ”” ™ US 

«EJEADeDCASQLWE^I| 

4223 Nov M 47 45 
»»DoeM 56.95 
*0 5*50 Jan 95 Sin 

So* StiSE? 095 w* 

SSAOtaorM 5420 

£L30 S*S5Apr9S SUO 

3620 May 95 

*2 SSSJunU 5625 

57.94 5SJ0JU1S - bun 

Si sS 

KM £200095 

S?S 520 

§673 3240 Dec 95 

s7 +9 5U0Auaf6 54 M 


I ALSO I 
190 
190 
7*4* 
190 
1924 
2*30 
mo 
»JF 
1*40 
19.17 
190 
3*80 
21.15 
1*84 
1180 
1*17 
3*80 
1 1*471 


+00 34,712 
+00 tuo* 

+00 6A18 
+ 10 4,034 
+00 347 

+034 200 

+CL2S 10 


—025 2701 
-027 44132 
—023 3X314 
— *07 1702 
—am 11.913 
-*IJ 5399 
+0.18 4218 
-am 49cj 
— *03 *211 
+00 1204 
+188 4.102 


—0.14 57.983 
-013 9X133 
-014 574*4 
-*M 37233 
— *15 3304 
—0.14 1*764 

—aid ixsoo 

-O.U 72.35* 
-*1* 1301 
— *1* 626* 
-*M 1101 
-am sm 
-at* 4J6B 
-+4L1* 110* 
-0.1* *7M 
—aw 

—O.T4 *284 
-*16 

-O.H 15216 

-411 


ER) aaooeai* 

Mm 



«ra 

44J3 

OJf 

-0.112005 

570 

5545 

5646 

-446 23,117 

00 

5655 

51H 

+06)6 H3SS 

5655 

53.90 

j*<1 

— *01 

4,941 

5430 

5620 

5600 

-wn 

2421 

5*50 

S ISO 

5*30 

—AIM 

401 

5635 


56.M 

-AM 

2377 

54.15 

SU5 

-AM 

MS 

540 

5*59 

55l7S 

-AM 

1,179 

54.14 

5614 

56X 

—AM 

504 

520 


5115 

-AM 

an 

520 

5X71 

—*04 

m 

5694 


5X58 

—AM 

in 

5*96 

55.10 

-AM 

4W 

4X344 


Stock Indexes 

^o®^wo»JCMa« sd.mu 

X JS 4*920 47123 070 010 

2J-IS 441.45 Mw 93 tnxt 4340 «UD 

Sm 25«5ij22c S22 ® uo J7a - U 

OAK) 4*20 Sep 9S 4790 400 47160 48X40 

sss assj 9 “’" ssag “ 
B-TSWs-. » 585 

Thu's oeen int 4JJ5 off)64 


Cl : 


+X102I4JB7 

tJJfi *MI 
*20 *579 
+ X30 281 


+045. UW 
+M5 m 
*00 32 

+00 5 


Moody'S 
Routers 
D-l. Futures 
Cnm-RBseanSt 


Commodity IndexM 

Close 


L36&B0 

202.90 

150.92 


Prirvtaui 

1J54J0 

2M140 

15X71 

22731 


7 


f-Si L ■' 









INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 15-16, 1994 


Page 13 



EUROPE 






•LonuiiK i , . 

* V" rfi c.. „% 

. ‘‘V: ^ 

dtri 

•«. :r >’W 


Frankfurt Eases 
Exchange Rules 


■““** C un 

:;i 

***m * .*[- 

^•**1] * ;u-„ 


By Brandon Mitchener banks to 80,000 DM from 

International Herald Tribune 200,000 DM Uld waived the 
FRANKFURT — The 15,000 DM fee charged to every 
.Frankfurt Stock Exchange on Boor trader, 
r Friday took measures to wrest UOur goal is to offer cheaper 
. --.;k . •>*> busmess away from its smaller more Hquid trading than all 

' : - German rivals, slashing its ad- markets in German secn- 

mission fees and soliciting pan- ritie $>” said Werner Seifert, 
.ners abroad. chief executive of Deutsche 

‘ The bourse cut the fee ® 6rse A G , the holding compa- 
... - : C -■ charged banks for admission to 2* diat operates the Frankfurt 

J -floor trading to 200,000 Deut- St S k Exchange. 

l sche marks ($130,000) from The exchange’s action was di- 
>500,000 DM, undercutting rated less at London —its tra- 
smaHer German exchanges. It ditional rival in German equi- 
also reduced the fee for non- *“* transactions — than at the 

countiys eight other stock ex- 
changes, which Frankfurt has 
long accused of siphoning off 
liquidity in blue-chip 
Source 


■ 

■ :s ... . ^ A 
«/ ;i 


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IV-' ? - 1 

ch«i rx.v. . ■' 

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AriaiM A , ; K r( ;. c ..,_ 




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ird 

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»*#c a!lcr i*J » r.ijv bivonwTr 
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ultn for Quarto* 

*H tm* h? :ai«fe 

An-Mh.'* 1 f. 

ififtatf e»r\ r.-irsiiu - 

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1 1 *>p». • % tv * ! ^ujrio \ it 

If v.- .• « :'! !v !i'p.TlfOf* 

Wib 

-:V. 


AEGDamder 
And Schneider 
Start Venture 


FRANKFURT — AEG 
Daimler Benz Industrie 
AG and France’s Group 
Schneider SA launched a 
joint venture Friday to 
combine their automation 
technology businesses. 

The new.company, AEG 
Schneider Automation In- 
ternational SAS, is expect- 
ed to have total sales of 
$550 million and employ 
2^00 people. AEG and 
Schneider win each hold 50 
percent of the company. 

Daniel Mdin, who will 
chair the venture's supervi- 
sory board, said the compa- 
ny would have a 14 percent 
share of the global market 
for such technology. 

Plans for the joint ven- 
ture won regulatory ap- 
proval from U.S. and Euro- 
pean antitrust authorities. 

The venture will concen- 
trate on malting program- 
mable logic controllers, 
winch control the flow of 
products along an assembly 

(Bloomberg, AFX) 


iources said a Hamburg 
bank probably would be the 
first to take advantage of the 
new fee structure after keeping 
its distance because of Frank- 
furt’s expense and loyalty to the 
local exchange. 

Five to seven other banks, 
mostly publicly owned regional 
Landesbanken, or state banks, 
woe also said to be interested. 

In other decisions, the Frank- 
furt exchange’s board of super- 
visors amended rules to mak e it 
possible for Deutsche Bdrse to 
conclude agreements with pro- 
spective foreign partners that 
want to join its electronic Ibis 
trading system. 

Ibis is a screen-based trading 
system on which stocks, stock 
options and German govern- 
ment bonds can be traded. 

So far, only subsidiaries of 
German banks abroad have 
hitched up with the system, al- 
lowing them to trade Frankfurt 
stocks. 

The board of governors also 
authorized “sizable financial re- 
sources” to support the new 
German Equities Institute, 
which has been created to pro- 
mote an equity culture m a 
country kmwn for a fondness 
for bonds. 

Rfidiger von Rosen, current- 
ly a board member of the 
bourse, will become the insti- 
tute’s first managing director. 


MMM Chief: No Remorse 


Reuters 

MOSCOW — With no ex- 
planations and no apologies, 
the head of Russia’s troubled 
get-rich-quick MMM fund 
celebrated his release from 
jail by pledging Friday to car- 
ly on his activities from the 
safety of Parliament. 

Sergei Mavrodi, who was 
freed Thursday two months 
after a spectacular comman- 
do arrest on tax-evasion 
charges, said he would run for 
the lower house and that 
MMM, whose share price col- 
lapsed days before his deten- 
tion, would soon be working 
as profitably as ever. 

“You would only return 
money to shareholders if you 
were winding up the compa- 
ny,’’ he said. “Our company 
is working normally.” He 
added, “There is no question 
of dosing it down or giving 
anyone their money back.” 

Mr. Mavrodi was freed af- 
terregistering as a parliamen- 
tary candidate for an Oct. 30 
election. Under poQ guide- 
lines approved by the presi- 
dent, a parliamentary candi- 
date cannot be held without 
the Supreme Court's approv- 
al 

He will fight for a seat in 
the lower chamber from Mos- 
cow’s Mytishchi constituency 
that became vacant after the 
holder of the seat, Andrei 
Aizderdzis, was shot to death 
in April. 

The initial phenomenal 


success of MMM’s pyramid 
share sales, followed by the 
drama of bis arrest, made him 
a hero in Russia. The Russian 
government is widely blamed 
for causing the collapse in 
MMM shares and accused of 
victimizing Mr. Mavrodi. 

Mi. Mavrodi said he would 
probably win the seat and 
that his presence in Parlia- 
ment would be “useful for ev- 
eryone.” It will also give him 
immunity from arrest. 

Millions of Russians sank 
their savings into MMM, 
whose share price collapsed 


Tor ordinary 
shareholders, that 
is completely 
irrelevant.’ 

Sergei Mavrodi, on 
where his company pots 
its money. 


in July after a run caused by 
official warnings about the fi- 
nancial health of the invest- 
ment company. 

The money-spinning 
scheme promised ever-rising 
share prices and annual divi- 
dends of 3,000 percent. 

Finance Ministry officials 
have likened MMM to a pyr- 
amid scheme in which money 
from Lhe sale of new shares is 
used to pay back earlier in- 


vestors. MMM has denied 
any wrongdoing. 

Mr. Mavrodi said the com- 
pany was as reliable as could 
be expected, given that the 
government had confiscated 
all its documents, and would 
soon be back at work. For 
now, he conceded, no depos- 
its were being taken, and no 
cash was being paid ouL 

As usual, he refused to say 
exactly what MMM had in- 
vested in. 

“I don’t see why 1 should 
explain what specific area we 
are in, because for ordinary 
shareholders that is com- 
pletely irrelevant. For them, 
the most important thing is 
the results.” 

Mr. Mavrodi looked none 
the worse after two months of 
confinement. He fired off an- 
gry condemnations of gov- 
ernment dishonesty. 

Reformist government of- 
ficials estimate Mr. Mavrodi, 
39, has made about $1 billion 
this year from MMM. 

Wearing an olive-green 
sports shirt, he was surround- 
ed Friday by fat men with 
blank faces and navy suits, 
distinguishable from the So- 
viet officials of yesteryear 
only by their expensively pat- 
terned silk ties. 

Mr. Mavrodi was coy 
about precisely what his fu- 
ture political program would 
be. He said it would soon be 
made public but that there 
had been no time since his 
release to work out details. 


Bank Chief 
Resigns 
In Greece 

Compiled by Our Staff Fim Dupcadus 

ATHENS — The governor of 
Greece’s central bank, Y annk 
Boutos, resigned Friday after 
disagreeing with the Socialist 
government over who would 
head a troubled bank. 

Prime Minister Andreas Pa- 
pandr eou accepted Mr. Bou- 
tos’s resignation, a spokesman 
said in a statement. Tne deputy 
governor, Lucas Papadimas, 
was appointed to replace him. 

News reports said Mr. Bou- 
tos, who was appointed after 
the Socialist government was 
elected in October, resigned af- 
ter the government backed a 
commissioner whom he wanted 
to replace as head of the Bank 
of Crete. 

Mr. Boutos issued a state- 
ment saying he had been 
“obliged to inform the govern- 
ment mi certain important is- 
sues.” He added that “the cen- 
tral bank has to be able to 
function autonomously." 

Greek stocks ended' lower in 
light across-the-board trading, 
with analysts attributing the fall 
to Mr. Boutos's resignation. 

The Athens general share in- 
dex finished at 84836, down 
6.72 points. 

The Bank of Crete has been 
under central bank control 
since a 1988 embezzlement 
scandaL 

(AP, Reuters) 


Investor’s Europe 


Frankfurt 

DAX 



London 

FTSE 100 Index 

3400 

3300 
3300- 
3100 
3000 
2900 


M JJ ASO 
1M4 



ASO 


Exchange 

Amsterdam 

Inctex 

AEX 

Friday 

Close 

408.16 

Prav. 

Close 

407.31 

% 

Change 

+ 0.21 

Brussel a 

Stock Index 

7 , 17 A 73 

7 . 148.17 

+a 3 ? 

Frankfurt 

DAX 

2 , 105.73 

£ 6 e 2 .B 3 

+ 1.11 

Frankfurt 

FAZ 

789 J» 

784.35 

+063 

Helsinki 

HEX 

1 , 961^7 

1 . 812.84 

+ 2.53 

London 

Financial Tbras 30 2 ^ 91.20 

2 , 413.60 

•O .03 

London 

FTSE 100 

3 , 106.70 

3.141 JO 

- 1.12 

Madrid 

General Index 

ns 

297.11 

+ 1 . 92 * 

Milan 

M 1 BTEL 

10119 

10 Z» 

• 0 . 98 * 

Paris 

CAC 40 

1 , 933.02 

1,955 88 

- 1.16 

stodenoun 

Affaersvaertden 

CV n fj r If-flmr 

1 ^ 64^6 

1 , 857.37 

440 at' "* 

+0 39 

7 n r¥i 

Vionni 

Zurich 

otocK mow 

SBS 

430-22 

921.16 

429.93 

92319 

+U.UO 

^ 0.32 


Sources: Reuters. AFP 


luii-nuu-ivi] llcnl: luiuiv 


Very briefly: 


Tight Supplies Lift Aluminum Prices 


Compiled by Out Staff From Dupatdta 

LONDON — Aluminum 
nices surged to a four-year 

TTnsla,/ ami A luinnvinmil 


Strang demand in the boom- ing producer selling, but that 
mg U3. market and recovering hastf t slowed the price rise ” 
European Japanese econo- “Aluminum has taken on a 
mies couoled with an interna- life of its own and uncoupled 


this since the 1980s. It seems 
premiums for aluminum are so 
strong now, producers are sell- 
ing direct to consumers, bypass- 



Al umin um prices for three- 
month delivery traded as high 
as $1,709 a ton on the London 
Metal Exchange before settling 
at $1,705, 51 percent higher 
than they were in January. 


WSl __ 

Metals Ltd. “The demand pic- Thursday that the world market 

resastewd with Iure looks R°°d as long as the would move into a more bal- 9 0 CPD C/vrvr. 9A/I T 

producers’ pact to reduce pro- anced position. J/T3X1.C6 8 11 15008 JLiOSS 

duction holds.” European demand is expect- 

This year, aluminum produc- ed to rise 73 percent next year. 


GAMES: Nobel Prise Gives Credit to Game Theory 


ContiBoed from Plage 11 


The German economist 
Rmnhflr d Selten enriched die 
Nash model in 1 965 by offering 


said. According to Mr. Harsan- 
predictable in terms of chance. 











‘ Thus whip Compaq and Apple 
.are figuring pricing strategies, 
■ they need oiriy assign probabil- 
ities to the other’s potential re- 
sponses and countexresponses. 

Another limitation to Mr. 
Nash’s approach was that it did 
not offer insight into what 
would happen if more than one 
ending to the game were possi- 
ble — even if the players acted 
consistently and in their own 
best interests. 

It does not stretch the imagi- 
nation, for example, to think of 
World War I as only one of 
many plausible consequences to 
the diplomatic and military ma- 
neuvering in August 19141 


tween game outcomes that are 
reasonable and unreasonable. 


The mathematics is quite 
complex, but some of the un- 
derlying ideas are intuitive For 
example an outcome depen- 
dent on someone taking an un- 
reasonable threat seriously, 
such as “buy my rug for $200 or 
I will km your first-bora child,” 
may be discarded. 

Thomas SchcBing, an econo- 
mist now at the University of 
Maryland who is at the top of 
bis field in applied game tb eoiy, 
dec ades ago introduced ideas 
such as the strategic value of 
brinkmanship. Indeed, some 
think he ranks with Mr. Nash as 
a founder of the field. 


AH this may seem as abstract 
and impractical as the theory of 
perfect competition — and for 
many. years it was dismissed 
Nonetheless, by the 1970s many 
economists were turning to 
game theory for inspiration, if 
only because they lacked an- 
swers to questions that turned 
on strategic behavior. 


derprn prices, 

Stockpiles Of al uminum held 
in ware 

the London Metal Exchange 
posted their biggest two-day 

-Mi-sots: 

metnc tons, to 2.190,0® ions by 10 percent . 

Stockpiles are at their lowest 
drawdown in aluminum to i_ n> i.i n /u.ca n > vi iqqt wvtpn 

StalSffiSlSES 

lSS? November were less ^ 300,000 

y5#u ' . tons. Mr. MacMillan said 

“Aluminum has taken over William Adams, analyst with 
the market,” a trader at Leh- Rudolf Wolff & Co., said: 
man Brothers said “We are see- •‘There haven’t been falls like 


• Gaieties Lafayette said it had a first-half net loss of 491 million 
French francs ($93 million), compared with a loss of 171 million 
francs a year earlier. The company look a charge of 278 milium 
francs to dose its New York deportment store. 

• Beta Funds International a British investment company, said it 
would launch a $50 million investment fund for Cuba. The fund is 
planned by Havana Asset Management Ltd, a subsidiary of Beia 
that is the first investment company to focus exclusively bn Cuba. 

• Fiat SpA will not biry a stake in Renault when the French 
company is privatized Cesare Romiti, the company's managing 
director, told the French daily Le Figaro. 

• Oce-Van Der Grinlen NV, a Dutch office-products supplier, said 
improved margins helped its third-quarter sales rise 40 percent to 
193 million guilders ($11 million), while sales rose 5 percent, to 
656.2 million guilders. 

• Spanish consumer prices rose 0.3 percent in September from 
August and 4.5 percent from a year earlier. 

■ Texas Homecare, a unit of Ladbroke Group PLC, said it would 
reorganize its business, cutting 900 jobs. 

• Continental AG said it would raise its tire prices by an average of 
3 percent Nov. IS because of an increase in materials prices. 

A FX. Bloomberg. Return 


AFP-Extei Hen 

1 PARIS — Soci6t6 Fran^aise de Radiotelephone SA, a unit of 
Compagnie Gfenferale des Eaux, expects “a significant loss” in 
1994 but will break even in 1996. the company’s chairman, 
Philippe Glotin, said Friday. 

He said 1994 revenue would be 1.5 billion francs ($284 million). 
Bui the company is expecting to make a return on investment in 
ovember, would have its mobile-phone network in 1998, he said. SFR is expecting a 

L L J — capital injection of 3 billion francs from a cooperation deal 

announced Tuesday by its parent with Vodafone Group PLC and 
Southwestern Bell Corp. 


but Russian exports are expect- 
ed to total 2 million tons in 
1994, up from 1.7 million tons 
in 1993. 

Australian analysts said alu- 
minum producers, who meet 
next in N< 
to decide whether production 
cuts agreed to this year should 
continue. ( Bloomberg, Reuters) 


To our readers in France 

tfs never bean easier to subscribe 
and sewe with our new 
toll free semoe. 

Just edi us today at 
05437437. 


ADVERTISEMENT 


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Hie imdmignnl mnantuws that thr 
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Deposit Agreement. Holden of CDRs 
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AMSTERDAM DEPOSITARY 
COMPANY N.V. 
Amsterdam. 14 October 1994. 


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INTERNATIONAL HERALD TRIBUNE, SATURDAY -SUNDAY, OCTOBER 15-16, 1994 


Plage 15 


ASIA/PACIFId 


$b : i 

r* : .. 

&&;■ 

i 

» • " * 


JiV’E: 

■ -w ,, t 
: £-.; 


China Sets 


f 1| Telecom Compaq ’s Prizing Shot 

h S If '"A • _ * !loomber S Businas News the latest cuts has been muted. to take some from 


||| Opening 

•* :£ , Bloomberg Businas News 

«; v - BEIJING — China outlined 
.# k jj a role for foreign telecommuni- 
'* 2i cations companies in its huge 
£ si network expansion Friday but 
;i v reiterated its ban on foreigners 

*4$ taking equity stakes in or man- 

aging phone services. 

|3 <5e z- Foreign companies can help 
£ -v Wld networks, advise on then 


h- S»p; 
«cr 

■ <»> »ij 
■i >■*; 


' tnnki networks, advise on their 
i operations and reap returns on 
i their investments, said Wang 
■ Jjanxong, a spokeswoman for 
f the Mixnstiyaf Posts and Tde- 
» communications. 

•„ Under the arrangement, 
~ Hong Kong Tdecommunica- 
i tions Ltd. and BellSouth Corp. 

• agreed this week to work with 
j Chinese operators in China's 


• ,j ;t x 'bf «wu» isin. nmi DOiaouin L-Orp. 

• • ; t S k agreed this week to work with 

* *: -J r f ( Cninise operators in China' s 

.. , ; : ■} Sj telecommunications market. 

" a’ N: : The China Daily said Friday 
- - frat the .country needed $7 bfl- 


. . i! iS 5 < ' “Foreign investors can hdp 
( - • £&•»* build networks and recoup their 
: [! Tig investment with a portion of 


Bloomberg Businas News 

TOKYO — Compaq Com- 
puter Corp.’s latest round of 
price cuts of personal com- 
puters in Japan may be aimed 
more at its U.S. competitors 
than local ones, analysts said. 

Compaq reduced prices on 
its desktop and notebook per- 
sonal computers by between 
14 percent and 26 percent last 
week and announced a drive 
to get a bigger share of Ja- 
pan’s almost 700 billion yen 
(S7 billion) personal comput- 
er market. 

The move was quickly 
matched by International 
Business Machines Corp., 
whose local subsidiary, IBM 
Japan Corp., dashed person- 
al computer prices 25 percent 
days later. Dell Computer 
Co. said it was likely to follow 
suit soon. 

But in contrast to two years 
ago, when Compaq rocked Jar 
pan’s computer world with a 
series of machines sold for 
around one-third as wwrh as 
those made locally, reaction to 


the latest cuts has been muted. 

Compaq's price cuts were 
on older models and followed 
similar cuts in the United 
States rather than being spe- 
cifically targeted at Japan, 
said Takahiko Umeyama, an 
analyst at the technology 
market research company 
IDC Japan Ltd. 

Compaq seeks a 10 percent 

Compaq wants a 
10 percent share 
of Hie Japanese 
market by 1998. 


share of the Japanese market 
by 1998, compared with its 
current 4 percent, said 
Mayunri Kunizane, a spokes- 
woman for Compaq KK, a 
Japanese subsidiary of the 
Texas-based manufacturer. 

The price cuts will help 
Compaq increase its market 
share and may even allow it 


to take some from NEC, she 
said. Americas manufactur- 
ers had 24.2 percent of the 
Japanese market in 1993, 
compared with 15.1 percent 
in 1992, according to tne mar- 
ket research company Data- 
quest Inc. 

Compaq's 1992 price re- 
ductions forced price cuts by 
both NEC Corp., Japan’s 
largest personal computer 
maker, and other foreign ven- 
dors in Japan. 

The latest move is unlikely 
to have much effect on NEC 
Corp., which dominates the 
Japanese market with a 52 
percent share, Mr. Umeyama 
said. 

But an NEC spokesman 
said the company was watch- 
ing closely what happened to 
foreign manufacturers. Price- 
cutting will affect them be- 
fore it affects NEC, the 
spokesman said. Only some 
of the foreign makers will sur- 
vive the price wars, and those 
will be the ones NEC has to 
watch, he said. 


Beijing May Bar 
Asian Trade Pact 


Investor’s Asia 


Hong Kong Singapore 

Hang Seng Straits Times 

MHO 2400 — 


Tokyo 
Nikkei 225 


Complied by Our Staff From Dispatches 

CANBERRA — Opposition 


trade liberalization at the same 
time as or before deciding on 


by China is believed to be the the goal,” die statement added, 
only obstacle to an agreement In particular, Beijing says 
to dismantle most trade barriers countries in the accord must 
in the Asia-Pacific regi on , dip- give one another most-favored- 



M JJAS O 
ISM 


O’ 19000 


M JJ ASO 
1984 


lomats said Friday. 


nation trading status on an un- I Exchange 


The Chine s e Foreign Minis- conditional and long-terra ba- 
try said in Beijing that it wanted sis- The Uni Led States, which is 
more concrete assurances about also among the 17 nations in- 
its trade and economic status as volved in the group, tried in 
part of the accord, which would recent years to make that trade 
create a free-trade zone in the status dependent on progress in 
region before 2020. The Asia- China’s respect for human 
Pacific Economic Cooperation rights. This year. President Bill 


forum is to decide on the pro- Clinton said he was dropping 
posal at its summit meeting that condition, 

IT • J • . • * ° A .... If Mi - I _■ J T-. 


Nov. 14 in Indonesia 


Australian officials said Pres- 


“As a long-term goal, Chinn idem Suharto of Indonesia had 
approves of trade liber alization g ai n e d the support of the Asso- 
in the Aria-Pacific region,” a ciation of South East Asian Na- 
Foreign Ministry spokesman dons. With the help of Prime 
said. Minister Paul Keating of Aus- 

“But APEC members must tralia, Mr. Suharto also appar- 
come to a common understand- ently convinced Japan of the 
mg of the meaning and implica- deal’s merits, a senior Austra- 
rions of trade libe ralizati on and han official said, 
of the principles of promoting A Japanese government offi- 


Hong Kong Hang Seng 

S hifliipuw Straits Ttmes - 

Sydney AflOnHnartes 

Tokyo " MWwi22S“~“ 

Kuala Lumpur Composite 

Bangkok SET ~ 
Seoul Composite Slock 

Taipei ’ Weighted Price 
Mania PSE 

Jakarta Stock Index 

New Zealand NZSE-40 ~ 

Bombay National Index 


Friday Prev. % 

Close Close Change! 

*55083 9,532.35 -*4.19 

2,377 JO 2^57.82 +0.83 

*00090 1,998.90 +0.36 

19,96029 20,148.63 -089 

1,128.45 1,135.87 -0.64 

1,49055 1,475.06 +1.59 

1,10037 1.096 54 +0.62 

6^567.77 6,626.39 ^88 


1,498.55 

1,10137 

6^67.77 

2£99J3 

51034 

2JTS7JZ2 

2JB8.63 


Sources: Reuters. AFP 


2,990.75 +0.31 

507.18 +0.62 

2,043 71 +0.68 

~ 2,071.20 -0.12 

Inicnuluaul IkfV-J T iitxrne 


r 

•p5 

'm. 


■i Sjfj cause that would mean they 

'i • ( ® l? would have a part in opera- 

j. Sons.” 

"• \ Analysts have been expecting 

S. . J s'] ^ ?. : i China to open its telec om muni- 

. .; -.>5 cations network since June, 

' 1 £ i; & When the government broke up 

'j the ministry’s decades-old mo- 

- ■ ili if' nopoly and ordered it to reorga- 

■’ mze its sendee operations into a 

C : : “h t!! commerciai arm. 


China Arms Maker to List Fund in Singapore 


■2 c V C 

S i 

m* 

<4 Sl r 


Compiled by Our Staff From Dispatches 

HONG KONG — The investment arm 
of China North Industries Group said Fri- 
day its $185 million fund, which wfl] be 
listed on the Singapore Stock Exchange, 
was 2 JS times oversubscribed at SI. 04 a 
share. 

China North Industries, also known as 
Norinco, is a leading arms supplier to 
China’s army and ha< dozens of subsidiar- 


ies that produce minicars, trucks and other 
products for civilian use. 

Norinco plans to use at least $160 mil- 
lion of the fund to invest in 18 joint ven- 
tures established by Norinco subsidiaries. 
The 18 companies focus on the automo- 
tive, construction and optical industries. 

The fund will be listed on the Singapore 
Stock Exchange on Tuesday, with the wv 
mary listing in Ireland. 


I of the principles of promoting A Japanese government offi- 
cial confirmed Friday that “in 
principle” Tokyo would sup- 
ry • port in agreement 

HIT! OT!)llAf , P China also wants differing 

UKgclIJUX levels of economic development 

to be respected, ensuring that 
Meanwhile, Shanghai Haixrng Shipping poorer counuies do not lose out 
id it would proceed with a Hong Kong tariff barriers come down, 
ock listing it postponed three months ago. APEC comprises Australia, 


said it would proceed with a Hong Kong 
stock listing it postponed three months ago. 

The state-owned cargo handler plans to 
sell 1.08 billion shares, or what will 
amount to 43 J percent of its share capital 
at between 1.42 Hong Kong dollars (18 
U.S. cents) and 1.56 dollars each. 

(Bloomberg, Reuters) 


Brunei, Canada. China. Hong 
Kong, Indonesia. Japan. Ma- 
laysia, Mexico, New Zealand, 
Papua New Guinea, the Philip- 
pines, Singapore, South Korea, 
Taiwan, Thailand and the Unit- 
ed States. fAFp Reu!ers) 


NYSE 


12 Month 
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ga LOW Stock 


Div Vfcj PE 1001 MWt LowLaetiOt'Ot 


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at and do not reflact 
The Associated Press 


(Confimed) 


nMsMti 

“i y»;l Low stock 


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■; : 7 


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Daiei Net Rises Less Than Expected 

Bloomberg Businas News 

TOKYO — Daiei lnc„ a Japanese supermarket chain, said 
Friday its first-half profit rose less than it had forecast because of 
slow consumer spending and costs incurred when the company 
absorbed three of its affiliates. 

Daief s current profit which is before taxes and includes gains 
and losses from nonoperating activities, rose 7 percent to 1 1-24 
billion yen ($113 million). Daiei had forecast that profit would be 
12.5 biUion yen. Sales rose 25 percent to 1.26 trillion yen, largely 
because of additional revenue from the affiliates. 

Jun Nakauchi. vice president of Daiei. said Japan's economy 
“limped along without entering a full recover)'” in the first half. 

The company lowered its profit forecast For the full year to 23 
billion yen from 26 billion yen. Daid’s stock fell 10 yen to 1,590. 

Separately, Milsukoshi Ltd., one of Japan's oldest department 
stores, said it returned to profitability in the first half. Milsukoshi 
reported current profit of 647 million yen. after a loss of 1.76 
billion yen a year earlier. Sales fell 4.7 percent, to 380 billion yen. 


Very briefly: 

• Standard Chartered Bank PLC said it signed an agreement to 
provide a five-year technical assistance program to the state- 
owned Bank Pembaogiman Indonesia (Bapindo). 

• Mizwa Inte rnational Corp„ the Japanese importer-distributor for 
Saab Automobile AB, plans to increase Japanese sales of Saab ears 
to 2^00 in 1995, a Mizwa managing director said. 

■ Cable & Wireless PLC. a British telecommunications company, 
said it was in talks to reduce its 51 percent stake in Cia. Tekco- 
municacoes de Macau to Cia. Portuguese Radio Marconi, which 
currently holds 28 percent 

• Singapore’s Urban Redevelopment Authority said it had turned 
down all bids for a 19-hectare (47-acre) plot slated for develop- 
ment as a theme park. 

• Electrolux AB of Sweden said it would open five factories in the 
Asia/ Pacific region in tbe next three years and expects to double 
revenue in the region within five years. 

• STAR-TV, an Asian satellite television broadcaster, estimated it 
was now being received in more than 53 million homes across Asia 
and the Middle East, up 28 percent from the beginning of the year. 

Bloomberg, AFX. Reuters 

Venture Plans Can Factory in Manila 

Bloomberg Businas News 

MUNCIE, Indiana — Ball Corp. said Friday it had signed a 
joint-venture agreement to help build and operate the first two- 
piece aluminum-beverage-can plant in the Philippines. 

Ball's partners are San Miguel Corp. of the Philippines and 
Yamamura Glass Co. of Japan. They will invest a total of $57.6 
million to build a plant in Manila. 

The company will be 60 percent owned by San Miguel, a 
holding company with interests in (he food, beverage and packag- 
ing industries; 34 percent owned by Yamamura. a maker of glass 
bottles, and 6 percent owned by Ball, which makes glass and metal 
containers for the food and beverage industries. 


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Page 16 


/ 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 15-16, 1994 




12 Moran 
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NASDAQ 

^ Friday’s 4 p.m. 

Tha list compiled by the AP, consists or the 1,000 
most traded securities in terms of dollar valua it is 
updated twice a year. 





-08 


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_ 129 1006 18% 
_ 30 040 29 

z f* 4 !S? Ji% 
z 2 i i*S’=s 

11 18 796 17 , 
J 34 3091 46% 
_ _ 756 J% 
_ 21 47 33 

_. 159 948 6% 

_ 28 XH 23% 
_ 37 IK? 26 

- - 1102 12 

_ 33 1 5 9% 

> 2217318 37% 
IJ 14 HD 71% 

2 202751! 23Y. 

- _ 2754 38% 
IJ - 281 11 

.. _ 881 151b 

- 24 88 25 

_ _. 1773 4 

_ 54 879 TTY. 
_ - 1648 13 
_ 14 B6?3PVu 

18 13 214 30% 

- _ 67 1 7*4 

_ _ 723 10*4 
_ 74 58? 4V, 

_ 98 1893 22% 

_ 54 479 13V. 
10 19 3187 70% 
.9 11 1520 16% 
— M 427 IP, 

> 37 146 16V, 

_ 43 1487U65 

- _ 6244 4% 
2.4 16 1851 20% 

_ 4i 449 jn. 
_ X 1S3 12% 
„ 28 271 22% 
10 - 485 24% 

- — 701 17 

_ 33 1518 17% 
_ 16 2107 9% 

_ 10 495 14% 
_ 27 393 0 
J 16 767 u 17% 

.. _ 2584 mi 

14 12 481 72% 

- 11 353 13% 

24 9 121 78 

44 11 545 78% 

_ 10 784 10% 
2 9 400 17*4 

_ 11 7510 6% 

_ 4424819 17» b 
4 0 569 70 

- — 284 14 
14 — TIB 7Z% 

_ 28 451 J?Vr 

24 8 993 77*. 

_ 35 1800 33 
_ 9 837 12% 

_ 32 2153 42 V, 
-133 1283 BV. 
_ _ 1431 7% 

- 28 108 30% 

- 306M22 57% 
_ _ 7140 18*4 

- 49 647 49% 
_ 12 291 24% 

IJ I Ml Jt 
2J 15 118 24% 

- _ ICED 2ft 

- - 1849 17% 
_ 34 IB 21% 
-429 3410 23% 

14 18 463 28% 
_ 13 75V 14*, 
.1 27 1605 43 
.1 26 1690 391*1, 

- — 178 70% 
14 10 507 20 
_ 121 299 13% 
4 - 72 8W 

- _ 294 22 

- 24 247 20% 
_ 13 3515 29% 


72' 

4 6 Vi —V. 

38 38% —V. 

33*. 3*%— Vu 
18 18 — % 
17% 17% — % 
76 26%— 1% 

33% 33Vi _ 
13% 12% -% 

1B% 18% -*u 

36% Z 7% -% 
25% 25*6 - 

21 72 % *1% 

17% IB -Vi 
27*6 28% -»4 
T6W 17% — % 

io% lm _ 

135%136 — *6 

24’A 24*4 > 

15% 17 .%» 

44 46% - 1 

8% 8% — % 
22 'A 72% — % 
6% 6% — % 
23% 23% - 

2SV. 25% _ 

14*6 14% — Vb 
9% 9'A - 

34W36*Vu-I'Vu 
21% 21% — Y. 
34% 15% -V H 
37% 37% — 
10Y« 10% _ 

14% 14% _ 

24% 24% _ 

3% 3*6 -% 
16% 16% — % 
T2VS 12% — % 
34% 34% _ 

20 W 20V. -% 
17% mb — w 
10 low — 

4 4V,— Vi» 

22% 23% — Vb 

17% UVj 
20’i 70% — Vb 
16% 16% -% 
19% 12% *% 
15% 15% — 

63 64% •% 

a 4% 4% — % 
X 20% _ 

39% 0% —V, 
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73 72 —Vi 

23% 74 — % 

16*6 16% -Vu 
16% 17 
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14 14% > 

21 V. 21% 

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21% 22% * ’A 
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19% 19% 

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12% 12Tb — >/u 
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a 70% -% 
19% 19Y b -■% 
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7% 8% *V» 
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20*4 20% — % 
28% 29% — 1 % 


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fi*sasss? 

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S2i-«%NatGyt« 
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t7*.iiViNrwaa 

24V. 6%NolrBtv 

saK» i 

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18% J*.Nettrome 
74% UV.Neimnas 
23%12%NTwkG 
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16% SWNwrmoa 

0%23Y. ?SS d 

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n r-asa 

43%3WbfS2M?M 

TOVuM'VNwSlAWl 

«,rHr 

76', 13 1 '. Novell 

4a%27*iNovkre 

krss? 

19% 9 

14% 5% 

10'.. 1% 

30 15% 


-56 

.40 

.Oae 



410 


J 13 289 25 
4 - 62 20% 

1.1 12 198 29% 

- 15 5 12% 

2-5 _ 115 14% 

14 763 34% 
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>333 383 17 
_ 1325770 6% 

_ 20 848 31% 
_ 3 2267 HO’- 
.9 21 7A 19% 
_ 19 4852 10’. 
_ 44 3207 u26V. 
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Z 113 2549 ft 
44 17 69 18. 

I Z ySi u' ." 
Z * SB^ U »t“ 

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14 24 135 56 
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.. 21 4441 8% 

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- 17 32 *f. 

Z 2?63I2l S': 
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1.4 U 2 20* ■ 

z _ ffi « 

Z 39 £ 2?:? 
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q a g sr 

34 1 S »■'. 

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_ 17 I4tn i/’.» 
19 _ 413 !4Y» 


24% 24% — % 
20V. 70% _ 

29 39 — V, 

12% 12% -% 
14 14% 

33V 33% — % 
7% 7% -Vb 
16% 16% — % 
0 6 6Vi — % 
31 31 Vi — v, 

39% 30 — «u 

18% 18% — % 
10 10*6 *% 
73% 25% *1% 
15% 19% — % 
8% 8% —V. 
6 % 6*6 > 
17% 17% —V. 

ffisa-as 

6 % 6 T. —i W 

rr:5 

4JV, 4SV. ► "i 
16% 16% -W 

37% M’ ! . *6 
18% 18% —V. 




joe 


J2 


12 Month 
rftflLOw Stock 

. via". 

&SfoS 

S % 20*6PopaJahn 
tallWPormTot 
J4W 13*bPor*s*e* 

40W 28% Paydie* J6 
43% 30*bpBRft6r 27 
lew 8%P00PCT 48 
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SSSS 1 - - " 


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9 % 10 % 

30 9 

34 V. liVPemoo 
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22%17/uPtrlGeos 
38%2i%Pe%Mon 
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S*ei3ViPrmin 
36% nVbMvCer 
30'A 18 PhyaaiA 

37% 16 PhysiOilt 

20*6 10 PicTel 
22 Vi lOWPinOMiC 
49% a% PkxtrGo 
40W 29W PtonHtB 
19 l2%nonStc 
4t W 8 PHencr 
39% 3WPtoBpft 
23% 7 , APlalTc 
29% 14% Piavaa 
9*6 S%Pta«ne 
»%T1 PonoTrp 


SB 

YU PE 1003 Mon 


LowLQtHtCh’ge 


“jTB «% 

_ S 187 76% 
... 26 521 70V. 
_ > 423 30% 
_ 19 3016 mi 

> 51 455 29 
_ u 5848 36 

> 320 222 22*6 


_ 21 


I9Y» 


1B% 16%F 

31 W OWPresRvs 
SO MWPeesteks 
2I%13 Prtcots 
38Vl24i*PrerR* 
33% 20 Prtmoon 

r^^faa 

29% IS 1 * Protoo 

Jki^Kggsn 

3tW 6’. Proxima 
18 5%Pin«Te 

WW UWPuSSn 
24% 14'APuroPd 
16% SHPyrmT 

F^^y 

70% 9% Quantum 
43%23%OuOntHff 

SMui " 

\SBt 9%Quil< 

-4% ll’AOutn.-. 
30% 16% Quinn le 
73% ISWQuixte 
21 V. 16% C 



9 37 *27 38% 
1.7 18 740 u «1W 
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48 _ 25 89 

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12 10 438 14% 

z fiiSsuM* 

_ 2771 I4VS 

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_ 30 3276 14% 
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600 77% 

640 38% 

_ D 635 12 

Z fi io 2 ? 

z W 

> 17 175 23% 
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14 20 3 45% 

2,1 20 2*10 72 

J 13 276 17*4 

> „ 644 10 
_. _ 90a 13% 

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Z” fi fcu 

> 40 25 71*4 

> SB 35% 59 

_ 7 116 17% 
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>188 566 43% 

> _ 3050 16% 
14 ll 746 » 

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_ _ 1904 9V,, 

> 57 9 19W 

> 16 IS* 33W 

„ _. 3241 18% 
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U 16 29 a*% 

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- - .SS 

1 MW 
ijrafc 

«i 9 

_ 30 3*6* 26% 

> 49 280 44% 

> 10 131 14 

S3 

_ 1311286 15*6 

3 * SS f 

Z 3 2775 10% 

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J 21 l5u34W« 

IJ 13 dS 19% 

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_ 35 


.12 J 15 
44 24 15 5 


29 W. 2*%— «% 

p^=s 

74% 74%—' 
68 % 69 % — % 
29W 59% — % 
10% *5 
wvu % 

34*1 35V* -A; 
72 22 — % 

14 Vi 14% -% 

nvi 88% — % 

19% 19% -Vu 

5% *% 
S3 57% -2% 
14 14Vu — Vu 
18% 18% -% 
14% 14% t'j 
16% 16% 

71% 77 — % 

37% 37%*-*% 

fi n% — % 

it 

16 W 16% -% 

9W 10 

'P 5ft -3 

’fiSC-c 

11 11% — Vb 

4 ? Pit 

16 16% -Vb 

27% 77% — 1% 
24 34% > 

SJiSJS-w: 

13% 13% — % 

sgs%=a 

«»« ** 

.as%=* 

24%M%u 

iss3 


R-S 


18% 12 RFS Htl 
19%16%RPM 
ll'-b *WRocfiCOG 
IB'A 7VbRcxOues 
31% 19*b RoUtex 
26 9W RtWiTc 
12% 3’-.Rdly» 
24% 17 Recite 
19% SWReoORt 
73% 12 Recoin I 
26 V, 15 Reonan 
39 16*u Real Cm 


S 17 1710 15% 
2.9 20 503 u 19% 


> - 483 *% 

_ TO 5* 23 

>4S 4*a i».. 

> 19 1125 18% 
_ 48 12B lSVb 

543 37% 


nsiagr ’3 n ” a gs 


_ 41 _ 

25 221 18 
30 38 7% 

> 4780 
8 595 13% 

> 31 530 12 

231 3 B 1186 aft 
_ 13 1137 11% 

2 .1 is ift 

_ _ 352 9% 

> 19 247 13*6 
J 15 242 a>6 

ZS 45 806 55*1 
33 235 28 
_ 248 18% 
IJ > IS 16% 

> 20* 28% 


ReoBcn 32b 2-5 8 


.10 


31 lB'bRenCom 
25*6 11 W RenofTrt 

9% JVbRntrek 

5% PWRepap 
16% I2’A ReoBa 
aW 5 Resound 
11% 4%Relix 
*8*63* ReutHds 

32 T’-iRexSuns 

11% JWRiWlm 
18% 13 RtWood 
11% 7*bRtasNt 
18*6 12'ARio4-m 
23% 14% Rival .16 
yjwsavuRocxtsv un 
42V, 19*4 RWPtw — 

21 % 14Vb RocflCS ,10e J 

1S*4 13W Rock Ten 30 

31V- 22 V. P00C anti _ _ 

1 BVb 13% RsvttF/l S 44 24 24 702 16% 

38 18 Racer JO .9 18 2890 23 V» 

18% 12'ARassStr JO IJ 12 4706 1SW 

27'A 12 'A Ranch 
20% 16'A Rouse 
38% 50% ROOM Of 123 
»V- l3%Rura>Met 


13% 15% > 

19% 19% -tb 

s% »% :% 

?s%?ss-j: 

— 4% 4% . % 

fi 

8% 17 16*4+1% 

17% 17% +% 
36‘A 36% _ 

34% 34% — % 

26% 27* -Vb 

'ft 'JwTg 




48 13 - 


9% 5*b RyanF 
20W 6WS3incs 
22'A 12% sa Sys 
28% 17 SEICora .16 
n'A 16*bSFFed J8 
21 5WSLM5 
05% 47*b Safeco 1.96 

nw 30'A Stly 1st 
36 '.V 24 4, St -tod# .% 

24%16'uSJPOutBS JO 
31 W I S’A Sanmina 
10W 4W — 

aw 2% 

»%ib 

a'Ai7%setiMzr 
5*v.a*bScnatCp 
30’A 16W Sander 
28% 21 SOtlmns 
27", 4WSctdone 
43 W'lrSaGnu 
5SW2S Sdroec 
13*. S% Sdostoov 
20».1SV.5tiW> S3 
19*6 3WScreBdS 
20V. IS Scons 
28*6 16*4 Socoate 
51V. 34 SecCaa 
TO Iiwscaum 
37W TT’-.SwFnQuCXJ 

ifivrfiSfi 1,4 

71% 9V.shorwd 
irw.swstuitMst 


* l 8 
> Bt 50% 
> 26 11 18% 
_ 1111636 0% 

> 30 7181 13’A 

_ 77 333 21% 
J 32 52 20 

IJ > V 19% 
_ ... 04 6 % 

18 9 2247 51 *b 

> 35 533 79V, 
1.1 16 5BB9 3SV. 
IJ 12 458 20'A 

_ 16 273 K% 

> 75 3410 10% 

> > 242 3% 

> 7756 26% 


IlHllWu -Wt 
5% 5*4 *% 
44% 44*6—1% 
11 % 11 % *% 
4% 4% > 

W 1» — % 
9% 

13% 

33 

§ 55% -% 
27% — % 
18% 18% > 
16% 16% _ 
38% 2Mb — % 
16% 16% _ 
39% 29 -% 

14 w i5t, -w. 
26% 26% — % 

Joft 3fi 
18% 18% — 


20% 

19V41 

19% 


"'S 4¥ * 


JO > 


49% 


JO 


f t 319 
I 44 .. 
1.1 35 1114U29 
_ _ 313 6% 

> 18 98 41% 

> 174 3072 45 
> > 902 7% 

2 A 15 2SI 37% 
> _ 1051 4% 

> 13 688 15% 
.. 913493 25% 

> _ *61 43% 
_ .. 4672 17% 
- 382 19% 

3D 30 1640 779. 
„ 290 12V. 
._ 38 299 20 W 
- 219 13% 


24%20-ASnurBCird 38 e ZB Z 109 31 


aw MWStortlOn 
16 6% 

30 4% 

fER%k 
?l%"s 


_. > ms a 1 ’. 

> > 1126 13% 

> > 538 8% 

■” '*8 SS ss 

“• i 'i s m 

> M 406 25Vb 

> 18 3689 12% 

> 30 117 17% 

_ 96 17% 

> > 1502 17V, 

Z fi I9S 19% 
-56 2J 17 'sS 23% 

,rt2 5 tSfliSR 


6% — fb 

50% 51% -*b 
2B’A 295b -1 
34*4 35 -% 

19% 30% -% 

*&«*=*& 
3*b J% — Vu 

»*»}-* 
aw a% — % 

17% l| 

38% 28% .. 

6 % 6 % — % 
40% 41% >% 
43% 43V, — W 

7% ;% •% 
31% 21 W > 
4 4% — % 

15% 15% .% 
24% 24% — % 
43% 42% —1 
17% 17% .. 

18% 19'A > % 

20 30% I % 

13% 1 3 Yu — Vu 
30W 21 

15% 15% — % 
27% 33% i Vb 
13 W* 1 ■% 
35% 33% - 

12 % 12 % 1 % 
17% 17% — % 

h'u--* 
18% 18% — % 
3k .% 
z 


UMonf, . 

HiOtHj* S” 6 * 

12% ■%»««* 
34% 1 9 %! 

71% 12% I 

isW 4'.s**t55f 

11% l'fcSpecTch 

26%13wSSw«» 

19'A low f 

■% 9%J 
11%.?%? 


uu vhwSi y 
■05. J »i3 » 



a% 18 

36 ft 2°WW *» « 

ss&tiBE 

OW34%3t^O» 

Sw 19% 

74% 1? StFUOB 
24 'A lSlASHHijCre 

38WMW|unaTc: 

43% 19 SoffT * 

s-se 

gi^SSSSSS 

34% owsynoor 

16% 

32% — 

Vt \w» 

VVb 3%.,-va 
33% UWSirUCPt 



4 " & 



29% t9% TNTErl J7 >3 a « *J% 

rfc 


29% ie%TNTFrt 

ISW SWTPlEn 
>7VfcimTBjFnc 
32% 8 ToeoCMlB 


22V, 12% TcWTgt s 

35W39WTeg*nA 
15% 7% Telco 
SFAlBtoTetCmA 

P M . 

WVb 7TuTodavM 
B 3%T0KCMMd 
8% 5%TOPP*_ 
14Vb1IVbTwrAUIa 

SW 21 

16% 8% 
a 17% . 

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29W71A.T., > 

” 



HIM 

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15% i 

17% 3 ... — 

Sw'fiZ&o 

T4%io%uST 5 
im 12 wu — 

6W 4%U 
At 30% U 

IDO 

55 5wl§^? 2J0 

11 

17% 9%Lu— 

M% MWVarNne 
30 lOWVedxPti 
30’Al*WWeor 
21 W ISVbVICOrp 

29 a%Ulc«n 
33 7%Vtd0cL- 

30 tlbbVMWlB 
3IVbmbVadn«l 
28% 10WVISX 
22% 12 vmerk 



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5 ® 9 * s ^‘ 

a "lsa ««■ 


“ll 7} 'm 2 11% 11 

> u ip 20 % 


4»%37%WD« 
32W ITVbWLR Ft* 
3i%u%Watb(» I 
60 29%VWDflD(FO 

■nimopa 


£ 


ywc-yj: ■ 


3 mi 


*j It im tnidiMs 
: !I« im 0%, 

1 8S 

38W 12% WotsnPti > So 441 37% 16%. 

29 2*%V(att8tnt J2 1 Itira 36% 

33 7IBWWPI J4 LO 15 775 24 

23W1I WbOFn 5 U ? O 

75% 14 WaBU . 17 Ml 

3 5 M%WbdMOt _ 22 342 

43%ia%WeW* _ 20 13433 

23% 22% Werner .10 A a MO 

Si'SSSST n “SJS ja 
BS’SSgSS- ■"* ■; ; St 8S 

31 17 

I9W 12% 

11% 3'A 

37% 29 

23%U%WMFde 
30% nvwnnHv 
M% 12'AWiCfU-U 
59W 37W%8#om» 

34% ll WmSans 
30W23%W9mTr 
in THWmctar 
43 SWlMsCCTb 
29% 17 Wonctwre 
23W 16% worths o 
JSWTO'AXRfl* 

13% 6%XoRNM 
5»% 39 XOiiW 
78 'A 17*6 Xircom 
22WI2 Xpedne 
28W l3%Xy«Mle 
MW H'AXyntOJf 



^sites' 


.96 2j0 M 1803 


148 


.16 


ZSs% 86% g 

1 j n SXt aw 22% 

J 38 481 34% M. 

> _. 888 U 16% 15 

> 39 6286 36W 55% 

>’33 1403 a* 73 ) 

.. 4| 70 BU 31%-i 

3Mbi6%YM0wCR J4 « t'.’ fit Htto 
28% 12'AYoitoker • _ 6 29* 18 

14 8 ZcxCp _ 31 1044 13% 

60% TJWZebro > 73 3X2 36% 

28% 13 ZcnLctes _ 35 414 23'A 

*0%MWZBoo > 19 832 31% 

45WD6 rtinflm IJO 12 9 319 S 37 17%— lto.e 

43% BWZoUMd > 19 1916 12% HM 13W rl%T 



AMEX 

Friday's Closing 

Tables Indude the nationwide prices up to 
the dosing on Wafl Street and do not reflec 
tlate trades elsewhere. Via The Associated Press 


13 

Mot, Low Stock 


Diw Yld PE IGCB High Low Latest Pi'oe 


9% B AIM Sir 44 64 _ 83 

37 73WALC > 33 1347 

17V. BtoAMtntln _ _ 21 

l'b WAM In wt _ _ S 

14% 9%AMC _ 18 47 

26'A 20'A AMC pf 1.75 74 > jot 

fflaAK > 6 62 

l"u ASP .18e B.0 _ 16? 

■ 61wCTTPd 2J30 4.1 _ 111 

. i 4*bAckCam >24 3 

3'f, 1W Action >106 100 

. 8*. 4W AarnRsc ._ 14 22 

.Bt 1 W AdvRn _ 45 

irWlOWAdvAAae > 55 38 

Wu WAdvAAedT _ 5 94 

10W 3WAdMdPf _ > 23 

5W lti.AdwPnal _ > 23 

3W 2ViAeroson _ 6 1 

I6W 6WAtrwce > _ 65 

SWJ'VuAJrClirc ... PI 54 

3%*» 3*bAircoa _ 16 50 

7% 6 AMtmea _ 19 20 

I2W SWAtooW _ 13 10 

.57. 2WAiertCf n > > 36 

187.16 AHOOBn n 1.44 8J _ 121 

2*b *4Affln _ > 80 

15 TTbAUdfMh > 17 21 

11% r.bAlouH _ 11 34 

7V. 3 AJ chain _. _ 151 

9% 4WAlptnGr > _ 71 

64 56V. At coopt 3J5 64 _ ISO 

WAmaxGwi _ „ 20 

tov. 4%Amcto. _ > 1519 

1W YtAntMRI _ > no 

14*i 9r.AFstP2 145 119 > 43 

TOV.iy-iAFstRT Ijg U - 13 

.BVb 2V,AmEC0S > _ 5 

l'W, 1WAEJUX > 225 

14W.3VuAIMB4 142 039.9 8 25* 

16W 12WAIM85 146 11.0 9 37 

1*% ll'bAJM86n IJO 10J 9 88 

15 llWAIMPn ,96a BJ 11 53 

52 UWAlsraef -53 e 1.1 23 2 

19V. 13% Am Lot JOB 4-4 15 IS 

24'/, 1 SV. AAAZDA 44 2-8 14 135 

14*i WAmPojn ._ _ 119 

11> 7>-.ARiKIr 44 84 4 12 

6% Jl'.ASdE > > » 

4W Tt„ ATeenc _ 14 20 

13W 0% Am pal _. 34 242 

.2*4 WAmpalwt > _ 264 

14W lWtAnwen 46 10 7 7 

34% 97, Andrea > 700 236 

15% HAnoPw UJOc > 1 » 

10% MuAnunco >2* 41 

M% SWADroonx _ > 96 

47. 4 ArtzLd JSe 54 _ 50 

11% OVbAikRsr Z M 11 

10 6'bAmwA _. 12 5 

»3'« 2%A rfiylh _ 13 73 

,4V. 2 Asrrotc _ 30 no 

12% 27. Atari _ _ 762 

7% 5"'. Atlantis ,10 1J ID 28 

_W 'AAtlsCM _ _ 13 

®w* J. Atlas wt _ _ 14 

18% OWAudvax > 9 500 

2W VuAuare _ ._ 668 

9% 4% AurwEI _ 11 223 

2% 2 AZDOn _ _ 224 


BW .BV, — V, 
34 Vi 34W —'A 
10% 10% — w 

I3W 12% -Vb 
34% 25 -% 

2% 2% _ 
2% 2% - W 
65V. 66V. -V, 
6W 6V* > 

2% 2% > 
8. 8 +V, 

H. 1% —lb 
15> 16 -% 

,.W 1 

low low _ 
l'W» I'Vt* > 
2Vb 2% -Vu 
7', T'ti — ij 

3 Wu + V« 

2Ti 3 - % 

6% 6*0 + Vb 

low 10% — w 

3Vb 3W _ 

17 17% ♦ % 

■V,. 01, , _ 

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7 7 — W 

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16% 16% _ 
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11% 11*. _ 
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171ATl%BATs .78e 54 

82% 72V, BMC _ 

771419 BOCWM 23 24 
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6% 4UBOIOW 

25*m2!'hBT Pt7W 1JB 8.7 
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72% 6%BaryRGs ... 

31 11% Bay Mea JO 14 
5 WuBovcto 
7% 2 *o 85HK pwt _ 
3% lWeSJpnpwT 
36%29%BSMfUCn 101 £6 

2% l*4B#ardCo _ 

3Vu <VuBotmac 
M%19YSBenfihE 
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KM s2WBcraCa zone 22 

33% 19WBS<ikM> 40 2.0 
26'A 10 BioR A 
3V> WBrdphm 
10% 4'ABtovOtl 

14% 9&Wfl?Sr 1JS 103 
14%11'ABCAig 7J 

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47 34WBSdrCP 105e 5.0 
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17% 9% Brancto 58 1.7 

5W IWBrondyw J702IJ 
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138 11 019% 

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71% 14% CwnCr 
73% 17% Cubic 
18% 12%Carfce 
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4% YiCycomm 




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7% 8 Z 
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10% 10% — to 
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16% 16% 

ISW 15% •% 
19Vb 19Vb — W 
11% 18*6 _ 
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l'A, %DI Irtd 
4W 2%DRCA 
9% 6 DcnJHd 

4% 2%Datamt 
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7% 2WuDavstr 
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8V. 5WOmrDr 
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26% 21 % DeiLaO s 
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11% BWDrvlNY 
7% 5 DnvHar 
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11% BWDurtax 
6 3WDycamn 
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40%33'AEchBFpf 

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15V, 9»EcoIEn 
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13% SHEW.V4 

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14V. 6WFOCCM 

39% 21WFtortxl 

79*6 671b Fbia 
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14% 9%RAust 

11 9 FAusPr 
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165 la'AFlEnw 
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127 9tWFardOio 
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- - 328 4% 4 4 to — Vu 

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40 6J _ 

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14V, 7*V HOOpHI 

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11% 6 Howtek 
20% 11 UHudGn 


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2*6 2W — Vb 
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4Vu aWktentlx _ _ 

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11% 6%mcyten _ _ 

11% 9tooie&Wkt > _ 

1% to into* _ 34 

14% 9% Iratron .laa 1.0 32 

2514 9Viintafcm _ _ 

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7% 2 imarOio 
2D% SWWtrmjnis 
7% 2% inFnDY wt 
6% fitolnFnYBwt 
13% AWtntLotry 
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4to 3 tnfpwr 
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9'A StolnfstGC 
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38% 14% IvoxCp 

12V, fttojesoten 

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13 StoJonelnt 
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3Yu IV, .Joule 
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11W 6WKVPHB 
11% AWKVPflA 
5% JVuKOVfHW 
27’Aij%Kewtea 
13% VVaKOttniy 
16% 5%KeKOG 
15% lOtoKMona 
6Vb 4%KeyEno 
4% StoKinork 
23% 15M Kirby 

19% aiiKOMfe 
9% 4 KiarVus 
10% d’AKOBTEq 
3W 2 VsKOdEq wt 
6 IVuLXRBton 
2% 1 LdSoro 
DVb 13 V, Lancer 
17 HtoLarxtour 


214 1C 


4% 4Yi, — V# 
9to 70 2 

2i Vi, I’Vu -Wu 

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14*6 14*6 > 

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3% 3V|, -V, 


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9to 5 Loser _ 9 

l'ti SYuLsrTedl > 41 

2 YuLWTe wt 

7% 4Vu LCOttlFoc _ 34 

3% WuLeePw > _ 

9% 3WL0 Eur wt > _ 

50% 39 LehAMGNMA AX _ 
25WM LohGTeln > _ 

19*6 16*6 LChMU n 140 9J > 

B « z 

8Vi 71 VuLeJY »4wt _ _ 

22% 14%UIVern 20 14 12 

2* j«aa 1 4 

8W 3 LoriCD _ _ 

16% 9 Lumex > 17 

15% 1 Lurtc _ 9 


4% 2'AMCSnp 

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15% TOVbMocNSc 
a aw mbps 
12 5 MamHrv 

15% lOtoMOBHE 
44% atoMoxom 
16% lOMMOddZ 


a Vi, 
187 4% 

2 49% 
5 24V, 
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15 36% 
22 ? 2 % 
271 3% 

21 I7W 

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27 6*6 

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398 7 


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16% 16% _ 
2’Vi, 2»y _ 

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mw aw _ 
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watt low Sunk 


Div Yld PE 180s Hion Low Latest OTor 


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2to VuMdcore 
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7 to 4l,MMOst 
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13*6 BtoAAermiC AO 4J 
ITWlSViMetPTO J5e 14 
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9 to 4*6MicnAnt 
207b 17 V, MtOA Be 
11 8WMidatRtv 
4% 2**Mic«3V 
15*6 10W MmnMUll 
74 AO'AMirrP ptA 5X0 
5to StoMissnW 
9*4 7 VooaA 
11 10%/AMed 
3 lv„MoronF 

8W 3WM5HK wt94 
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21 *6 18*6 MS IGT n 1J3 
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10% BWNMxAr 
29W 31 to NY Tim 
9 2%NAAdvn 
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12 7%NCdOa 
19W l3HNarTtibay 
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New Fidelity Offshore Fund 
Will Target Aslan Equities 

Fidelity is adding to its range of inter- 
national funds with the launch erf a Lux- 
embourg-based vehicle that will invest in 
Asian companies. The Asian Special Situ- 
ations Fund will commit at least 75 per- 
cent of its capital to stocks in Asian mar- 
kets including Australia, Hong Kong, 
India, Indonesia, Korea, China , Singa- 
pore, Sri l-anka. New Zealand, Taiwan 
and Thailand. 

“This approach offers investors great 
potential m the Southeast Asian region, 
where economic prospects are good over 
the raedhmarto-long Iran." said Judy De- 
laforce. Fidelity’s Loudon-based business 
development manager. "The markets are 
often characterized by a lack of quality 
independent research, and first-hand 
analysis can provide many opportunities 
lio uncover attractive special situations." 
T The fund is offered at a fixed price until 
October 24. Minimum investment is 
£1,500 ($2,400). There is an initial charge 
of 525 percent and an annual fee of 1-5 
percent. The fund benefits from the tax 
advantages (notably the absence of with- 
holding tax on incane) of its Luxembourg 

domicile. . „ . 

For more information, call Fidelity m 
Tonbridge, England cm (44.732) 361.144. 

Fleming to Launch Naturaf- 
Boaourco Investment Trust 

Asia may have its special situations, but 

commodities and natural resources are the 

next hot investment area, according to 
UJL mutual-fund manager Fleming In- 
vestment Trust Management Limited 
(FITM). FITM plans to launch a natural 
resources investment trust (a closed-end 
mutual fund) that wfl] invest in “a diversi- 
fied and international portfolio of shares 

in' companies ^"£”6^ in the extraction, 
cultivation and processing of natural re- 
sources.” 

“The world-wide economy has now re- 
covered from recession,” said Patrick Grf- 
ford, chairman of FITM. As a result, 
demand for natural resources is increis- 
ing, particularly in developing economies. 
These factors point to a period of strength 

for the prices of both energy and raw 
ma te ri als, and therefore for the share 
prices of natural-resource based compa- 
nies." • • . 

/For more information, call FITM in 
London on (44.71) 382.8989. 


I H P .A- 

V. ,-f .V.; \L- _ . ;■ : 

October 15-16, 1994 

.y*V. '. V; ..s.4,'.. • •••* •' • 

Saturday-Simdoy, 

. • • V.’*: ■ •• > V. 

ft E PA 0^-4! 

Vt \V.,T? V . . 

’ Page 17 


nuBnnsE 


That Is Not 
Bottomless 


DUCATIONAL planning has 
something of the cathedra) about 
it The sheer immensity of the 
cost, the vast, apparently endless 
nature of the supplementary bills, and the 
labyrinthine complexity of the fee (and 
, fiscal) structures inspire a semi-religious 
awe. Or, at the very least, the urge to find 


The Diversely Pursued (and Paid for) Global Education 


But there are positive aspects to it all — 
real, substantial benefits that should Hft 
the most somber of spirits, and that are 
definitely more palpable than the kind of 
financial planning that gets done over a 


The ample truth is that the figures 
mount up over the long term in an impres- 
sive — almost a subversive — way. Here, 
the Micawber principle is everything. If 
you have a cent more than you spend 



By Aline Sullivan 


F INANCING an education is a 
burden shouldered by a surpris- 
ingly small minority of parents 
and students worldwide. 

Indeed, recent research by the Paris- 
based Organization for Economic Coop- 
eration and Development, or OECD, 
starkly reveals the marginal importance of 
private education in most developed 
countries. 

A meager 2.8 percent or British nation- 
als between the ages of five and 29 attend 
purely private schools — defined by the 
OECD as those that receive less than 10 
percent of their funding from public 
sources — but this ranks as one of the 
highest levels of private education in Eu- 
rope. In France, the proportion is a mere 
0.9 percent. In the Netherlands. Belgium 
and Denmark, private school pupils are, 
statistically speaking, non-existent. 

Worldwide, Japan is the only OECD 
country in which more than 10 percent of 
the five-to-29 age group is enrolled in full- 
time private education. The OECD identi- 
fied 11.7 percent of Japanese students as 
attending a purely private school. In the 
United States that figure is 6.7 percent 
and in Canada only 22 percent. Generally 
speaking, the OECD found that the popu- 
larity of private schooling varies widely in 
developed countries. 

Of the 27 countries reviewed by the 
OECD in a recent report, only Portugal 
and Turkey had fewer than 90 percent of 
its 14-year-olds enrolled in secondary edu- 
cation. But significant discrepancies be- 
come apparent after a gp 15, when enroll- 
ment declines rapidly m some countries. 
The most startling drop occurs in Britain, 
where only 62.4 percent erf I6-year-olds 
are still in schooL 

By age 18, enrollment is secondary edu- 
cation has dropped to 50 percent in most 
countries. The exceptions are the Nordic 
countries. France and the Netherlands, 
where this shift occuis at 19 years of age. 
and Germany, where more than 20 


secondary education. 

Similarities in English-speaking coun- 
tries, and their differences compared with 
other countries, are conspicuous. For ex- 
ample; in all OECD English-speaking 
countries, the vast majority of students in 
secondary education are enrolled in gener- 
al programs. In most other countries, the 


Singer A Fried lander Bullish 
On British Small Companies 

Then maybe Asian stocks and 

the commodities world are not so attrac- 
tive after alL Perhaps the smart money 
should be committed to U.K. small com- 
panies. That is the view of U.K. fund 
management group Singer & Friedlander 
Investment Funds, which has just 
launched a new fund investing in this 
sector. 

The fund will be advised by Terry 
Smith, a well-known UJC. analyst and 
author of an iconoclastic book that ex- 
posed some corporate accounting prac- 
tices as the gross pieces of fiction that they 
are. 

Singer & Friedlander ma n aging direc- 
tor Tony Fraher argues that, despite the 
hill in the U.K. small-companies sector 
this s ummer , the sector is set to regain its 
upward momentum. He adds that in peri- 
ods erf economic recovery and expansion, 
such as that currently being experienced 
by Britain, the small-company sector has 
sharply outperformed the rest of the mar- 
ket 

The fund will be open-ended with an 
initial charge of 4.5 percent The mini- 
mum investment is £1,000 ($1,600), and 
the price erf shares will be fixed during the 
offer period (October 31 to November 4). 
Expected gross yield in the first year is 2 
percent. 

For more information, call Singer & 
Friedlander in London on (44.71) 
867.8777. 

Market Luminaries to Speak 
At Conference Held In Paris 

What are the real contours of today's 
financial world? Where should private in- 
vestors’ money be allocated? Is the “finan- 
cial bubble" over? These and other simi- 
larly profound questions will be asked and 
answered by luminaries of the financial 
world at a conference in Paris (November 
14 and 15) organized by the Finance 
Foundation in conjunction with fund- 
monitoring firm MicropaL 

Chaired by professor Raymond Bane, a 
former prime minister of France, the con- 
ference will feature speakers such as Gil- 
bert de Bolton, chairman of fund manage- 
ment group GAM, and Elaine Garzarelli. 
a partner at Lehman Brothers in New 
York. 

There is an attendance fee of 5,000 
French francs ($948). 


Global Education 

School enrollment per 100 persons {age? 5-23) 


Percent of students who go on 

to Mghar education 


Finland 

France 

Ireland 

Denmark 

Canada 

Belgium 

Spain 

Norway 

■ Netherlands 
Sweden 

Austria 

Switzerland 
United States 
Britain 

' ■ Japan 

Portugal 

Turkey 

■ ‘anapufcrfy adaO 

Source: OECD 


majority are enrolled in vocational and 
apprenticeship programs. 

Beyond secondary education, at least 25 
percent of the relevant age group goes cm to 
higher education in OECD countries. In 
Australia, Finland, Japan and the United 
States, that figure is more than 50 percent. 
Students entering bachelor’s degree pro- 
grams outnumber those entering non-uni- 
versity higher education — such as techni- 
cal schools, vocational schools and all two- 
year associate's degree programs — in all 
OECD countries except Hungary, Japan, 
the Netherlands and Sweden. 

The educational strides made by wom- 
en over the past two decades in most 
countries is apparent in the almost equal 
numbers entering tertiary education. Only 
in Japan and Turkey do the opportunities 
for men and women appear to be marked- 
ly different In Japan, nearly twice as 
many women as men enter non-university 
programs, but fewer *h»« half attend a 




women by substantial margins in boLh 
categories. 

The enthusiasm for a university degree 
in the United Slates, where 20 percent of 
people aged 18 lo 21 years are enrolled in 
university programs, is not shared by stu- 
dents in most other countries. Only Cana- 
da and Spain have similar enrollment lev- 


For more information, write Regards 
International 8 me Fallcmpin. 75015, 
Paris, or call (33.1) 45.78.36.17, or fax 
(33.1) 45.77.73. 61. 

Irish Life Launches Bond 
Tied to Index Performances 

Irish Life; an AA-rated insurance com- 
pany with some $10 billion in funds under 
management, is offering international in- 
vestors a chance lo participate in world 
equity markets through the medium of a 
guaranteed bond. Tbe Guaranteed World 
Index Bond will return investors’ capital 
at the end of a five-and-a-half-year term, 
beginning in January 1995. 

The performance of the bond will be 
based on the SAP 500, the FT-SE 100, and 
the Tokyo First Section indexes, as well as 
various European indexes. The invest- 
ment policy will "lockin'* any gains in the 
indexes at tbe end of each trading day, so 
that “at the guarantee date of June 30, 
2000, the amount payable is the original 
investment plus the highest Jocked-in in- 
crease in the World Index," promises Irish 
Life. 

More information on the fund and a 
free guide that attempts to explain the 
magic of options and futures contracts can 
be obtained by calling Irish Life's U.K. 
offices on (44.727) 817.000. Or, you can 
write Irish Life at Victori a Str eet, SL Al- 
bans, Hertfordshire, AL1 5TF, England. 

Money Under Management 
Falls In U.S. Unit Trusts 

Tough times in tbe bond markets and 
increased redemptions by investors are 
reflected in a fall in the volume of funds 
under management in U.S. Unit Invest- 
ment Trusts, vehicles that purchase fixed 
portfolios of selected bonds or stocks. 
Statistics from the Investment Company 
Institute, the Washington, D.C.- based 
trade body of the U.S. mutual fund indus- 
try, show that fuods totaled $6.15 billion 
under management through the end of 
September, compared to $6.34 billion a 
year ago. 

Jn next week's Money Report: a survey of 
international real estate. 


The Money Report is edited by 
Martin Baker 



United States 


ESEB5 









wM-t ■ ' 


els. In more than half the European 
countries studied, the figure was under 10 
percent. In Hungary, Sweden and Switzer- 
land, less than 5 percent of that age group 
was enrolled at a university. 

Very few students in any of the OECD 
countries, moreover, register in pan-time 
university programs. Part-time participa- 
tion is highest in tbe English-speaking 
countries, but even in these, the rate is less 
than five percent. 

Differences in participation at all levels 
of part-time education may be affected by 
availability, however. According to the 
OECD, the higher proportion of pan-time 


■ UfwarsSy 
□ rton-unhwrafty 


| Hongwy 

g 

10 30 30 40 SO 60 70 

International Herald Tribune 


enr ollment in the English-speaking coun- 
tries may reflect greater opportunities for 
this type of education in those countries. 

The prodigious value attached to educa- 
tion in every developed country is starkly 
illustrated by the relationship of educa- 
tional at tainm ent to employment. 

In Canada, for example, where 9.1 per- 
cent of the population was unemployed in 
1991, the OECD found that 14.1 percent of 
people who stopped school at a lower- 
secondary or earner level were out of work. 
Unemployment dropped to 9.5 percent for 
those with an upper-secondary education, 
to 7.8 percent for those with a non-uni versi- 


fntemational Education 

Page 18 U.S. college costs 

StCoruLir ji ‘holds abroad 
Expat note tat m ties 
One parent 's saga 

Page 21 Are Europe's MBAs faltering'’ 
Britain ‘s international pnnue schools 


ty tertiary education, and to 5. 1 percent for 
those with a university degree. 

In France, Portugal Switzerland and 
the Netherlands, the OECD found that 
more people between the ages of 25 and 64 
with a university education were out of 
work than those with a non-university 
tertiary education. But these differences 
were slim. In most cases, each level of 
education engendered markedly higher 
chances of employment. 

Higher education also means more 
money, and the relationship between edu- 
cation and earnings is most striking in the 
United States. For example, an American 
man between 25 and 64 years old with 
only a grammar-school education makes 
just 69 percent of the average salary 
earned by a man with a high-school diplo- 
ma. A man with a university education, in 
contrast, earned 164 percent of the high- 
school graduate's income. 

This gap. which is similar for women of 
the same educational levels is almost 
twice that found in most European coun- 
tries. In all developed countries, however, 
higher levels of education corresponded to 
substantial gains in comings. 



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> -•3 V. .' s < 


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k «vdUbl« lo bln Vd„ Deposit AmmuiI Cnloma wbo hold i minimum of C2JQ0 or USSUOD on Uirlr jccwuil vHtb Che Imey Of lie* of 
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INVEST YOUR FUNDS IN DENMARK 


pr**** 


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PR IV. ATI: HANKING 
:IM l:R\ YriONAI.; 

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1 >K - i ~ v i|v lilsjj 


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Page 18 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 15-16, 1994 



THE MONEY REPORT 



In the U.S., Soaring Tuition Necessitates New Strategies 


By Judith Rehak 


F OR PARENTS in the United 
States who have barely recovered 
from signing the checks to pay 
tuition and room and board fees 
for their college-bound offspring, a new 
report has only confirmed what they al- 
ready knew. 

An annual survey just released by the 
College Board, a New York guidance and 
data group, reports that tuition and fees for 
four-year colleges in the U.S. are up 6 
percent for the 1994-95 school year, double 
the inflation rate of 2.9 percent. An under- 
graduate at a private four-year college is 
paying an average $ 1 1.709 for tuition, plus 
another $4,976 for room and board. 

At the most sought-after institutions, 
the news is even more disheartening. The 
Consortium On Financing Higher Educa- 
tion. a research organization funded by 
top U.S. colleges, says the median tuition 
fee for its 3 1 members this year is $19, 1 10. 
When room, board and fees are included, 
the average final bill is a scary 526,874. 

Not surprisingly, even parents who have 
salted away a nest egg for their child’s 
college education may find that they need 
to come up with a lot more cash to bridge 
the gap. And that reality is creating some 


; in the way college is paid 
for in the United States. 

M A generation ago, the majority of par- 
ents financed their kids for 100 percent of 
their college education,” said Lewis Alt- 
fcst a financial planner in New York. 
“These days, it's more often a partnership 
— some by the parents, and some as- 
sumed by the children.” 

Indeed, the Federal government will 
lend nearly $18 billion to some 4 milli on 
American college students this year. By 
fax, the most popular vehicle is the Staf- 
ford loan, where the student does not have 
to start repaying the principal until after 
graduation. Its variable rate, which is reset 
each July, is the lowest in the array of 
available loans, currently standing at 7.43 
percent, up from 6.22 percent in the 1993- 
94 school term. A student can borrow up 
to $5,500 a year. 

If a student loan plus savings aren’t 
sufficient, financial advisers say the next 
step might be for the parents to share the 
load through another government vehicle 
called PLUS (Parents Loans to Under- 
graduate Students), which has no limita- 
tions on how much a family earns for 
eligibility, and can cover up to the full cost 
of tuition, room and board each year. 

Rates on these loans, currently 8.38 
percent, are also reset each July. Informa- 


tion on both Stafford and PLUS loans is 
available from the U.S. Department of 
Education in Washington, D.C.. and from 
college financial aid offices. 

An array of private lenders, such as 
Nellie Mae Inc. in Braintree, Massachu- 
setts, and the Education Resources Insti- 
tute, in Boston, have also entered the stu- 
dent loan business, although they often 
require parents to co-sign loans to stu- 
dents and run credit checks on both. 
These groups usually charge interest rates 
that are one to three percentage points 
higher than Stafford loans. Nellie Mae. is 
currently offering 9.75 percent. 

But perhaps the most significant trend 
in financing a college education is the 
growing use of the “financial aid package” 
put together by the schools themselves, 
and now needed by nearly half the stu- 
dents at private colleges. At COFHE 
schools, for example, this year’s typical 
package consists of a grant ranging 
around 313,000. a loan of about S4.000, 
and a campus job that yields another 
$1,800. That leaves the family to contrib- 
ute 58,074 to pay off the grand total of 
526,874. 

The most obvious criterion for qualify- 
ing for a financial-aid package is a fam- 
ily’s annual income. “We encourage any- 
one with a family income up to 5100,000 


to apply for financial aid," said Ted 
Bracken, a spokesman for COFHE. But 
for schools where tuition costs are lower, 
income eligibility ceilings are likely to be 
lower as well, and the make up "of the 
packages will vary. Mr. Bracken pointed 
out that other considerations also cany- 
weight. such as having two children in 
college at the same time, heavy medical 
bills, or older parents who need protection 
of retirement money. 

While colleges may not be happy about 
it, the widespread use of financial aid 
packages has produced another trend. In- 
creasingly, say some analysts, students 
who have been accepted at more than one 
school play colleges off against each other 
in die hope of obtaining the best possible 
financial-aid package. In effect, this re- 
sults in discounted tuitions. 

“The broad issue is that colleges have 
gone from being sanctified to having to 

market themselves and be realistic about 
supply and demand.” said Mr. Altfest. He 
compared filling each place in a class to 
the airline business, where the objective is 
to have each seal filled but where passen- 
gers will have paid widely varying fares. 

Adds Mr. Bracken: “The critical thin g 
is not to get obsessed with saving it all. Set 
a goal and stick to it. If you can save the 
first year, that’s already something.” 


Four-Year College Costs fat 

Annual percentage increase in tuitton a# U.S. 


-r~*zr-rrrqsrSiX CT&HS? 


12% 


10 


iAi 




*89 




■ -* ****'■& ffi-T-'*. ty# 

Breakdown of costs for the. 1994-9$ fA&M 



| Tuition , 
and j 
I Fees ' 

BOOKS 

and. 

srobSas 

Boom ; 
'and/ 
Board j 

iHlfE 

ins 

Estimated 

Total/; 

Expense* 

Public 

i 

$2,686 

$578 

$34)26 


||ig 

$8,990 

Private 

$11,709 

$685 

$4*78 

■ : ,AM 


$18,184 


Source: College Entrance Examination Board. 


faMiuMNiaooMTf'hiw- : 


Colleges Struggle To 
Defray Expenses With 
Endowment Income 


By Amy Barrett 


D artmouth Col- 
lege is one school 
getting by in stingy 
times without firing 
teachers, turning off the heat in 
the gym or reaching into its en- 
dowment. 

That's because Dartmouth 
earned a return of 7.8 percent 
on its 3800 milli on endowment 
in the year ended June 30. This 
compared with losses of about 1 
percent each for the Standard & 
Poor's 500 Index of stocks and 
the Salomon Brothers Broad 
Investment bond index. 

Lyn Hutton, vice president of 
Dartmouth, said she owes the 
fund's recent investment suc- 
cess to non-traditional — read 
riskier — investments in private 
equity, venture capital and in- 
ternational securities markets, 
which make up about 24 per- 
cent of its portfolio. 

“You’re not going to get 10 
percent compounded annually 
with traditional stocks and 
bonds," said Miss Hutton. 
“You have to invest in what has 
the probability of generating 
that rate.” 

Other colleges wall have to 
take the same risks in the 1990s, 
unless they want to cut their 
spending. The great bull mar- 
kets that produced average an- 
nual returns of 12 percent for 
endowments over the last de- 
cade aren’t expected to contin- 
ue. 

Moreover, what exacerbates 
schools' problems is that fewer 
students can afford to pay full 
tuition. The average U.S. pri- 
vate college tuition was 515,128 
in the 1992-1993 school year — 
the latest statistics available — 
and tuitions in the past two 
years have been rising by about 
7 percent annually, more than 
twice the rate of inflation. 

On average, U.S. colleges 
spent 4.3 percent of their en- 
dowments in Fiscal year 1993, 
according to the 1993 National 
Association of College and 


University Business Officers 
endowment study prepared by 
Cambridge Associates, and 
costs rose another 4.5 percent to 
5 percent. That means schools 
need returns of about 9 percent 
just to keep services constant 
and endowments from eroding. 

This past summer, Benning- 
ton College, even though it 
charges students $25,800 a year, 
bad to cut almost one-third of 
its faculty, including all its for- 
eign language, instrumental 
music and art history profes- 
sors. 

Wesleyan University was 
forced to eliminate six teaching 
jobs and reduce its spending on 
things like career planning, 
school psychologists and medi- 
cal services by 20 percent in the 
past two years. 

The Middletown, Connecti- 
cut -based school earned a mea- 
ger 2.8 percent on its endow- 
ment's investments in the year 
ending June 30, though it made 
the smart move of putting 12 
percent of its 5320 million nest 
egg into international slocks. 
They returned 22 percent — not 
enough to overcome a 3.4 per- 
cent return on domestic stocks 
and a loss of 1.4 percent return 
on the school's bond invest- 
ments. 

Dartmouth has already made 
the move away from traditional 
domestic securities. In the fiscal 
year ended June 30, the college 
cut its domestic equity alloca- 
tion to 35 percent from 40 per- 
cent of the portfolio. It plans to 
trim at least three percentage 
points off the 28 percent it has 
invested in U.S. fixed-income 
securities, Miss Hutton said. 

In the next year, she said, “we 
wall continue with our aggres- 
sive strategy in alternative as- 
sets," including stocks in 
emerging markets and U.S. 
startup companies, and stocks 
sold in private placements. 
Dartmouth also may make 
some real estate investments, 
said Miss Hutton. 

Bloomberg Businas News 


Real Cost of Education for Expatriates’ Children 


Belgium (2) 

Holland 
France 
Spain 
Japan p) 

Canada p) 

United States pj 
Germany 
Sweden 
Austria 
Italy 

Switzerland pj 
Britain 
Korea 

(1) Assumed Educational Cost plus Income Tax Cost equals Total Cost of education to unreurbureed expatriate (Pc.- example, a BeVgian 
must earn $50,000 and pay taxes of 530.000 m older to have S20.C00 left to pay educational costs). I ?■ Indud-n- C err mural tax cl 7* „ 
and Crisis tax of 3%. (3) Includes local taxes. 


Assumed 

Top Marginal 

Income Tax 

Total Cost 

Total as 

Tax 

Educational 

Income Tax 

Cost (at top 

(before 

a%of 

Planning 

Cost 

Bracket 

bracket) 

planning) (1) 

Edoca. Cost 

Available 

$20,000 

60% 

$30,000 

$50,000 

250% 

Yes 

20,000 

60% 

30,000 

50,000 

258% 

Yes 

20,000 

59% 

28.780 

48,780 

244% 

Yes 

20,000 

56% 

25.455 

45,455 

277% 

No 

20,000 

55% 

24,444 

44,444 

222% 

Yes 

20,000 

52% 

21,667 

41,667 

208% 

Yes 

20,000 

52% 

21,667 

41,667 

208% 

No 

20,000 

51% 

20.816 

40,816 

204% 

Yes 

20,000 

50% 

20,000 

40,000 

200% 

No 

20,000 

47% 

17,736 

37,736 

189% 

Yes 

20,000 

46% 

17,037 

37,037 

185% 

No 

20,000 

41% 

13.B98 

33,898 

169% 

Yes 

20,000 

40% 

13,333 

33,333 

167% 

Yes 

20,000 

48% 

0 

20,000 

100% 

Yes 



What’s Best for Teenagers? 


By Iain Jenkins 


Source: Ernsts Young 


Intenunorul Herald Tribune 


Taxes Can Hit Expatriate School Allowances 


By Martin Baker 


E ducating one’s 

children is important 
to expatriates. To be 
more precise; it scores 
an average of 4.8 on a scale 
between one (not important) 
and seven (very important), ac- 
cording to a recent survey of 
workers conducted by Runz- 
heimer International, a Wiscon- 
sin-based relocation consultan- 

cy- 

“Most companies pay actual 
expenses for elementary and 
secondary-level children of ex- 
patriates,” revealed the survey 
of 4,272 employees who work 
outside corporate headquarters. 
Paying educational expenses up 
to a set limit is also common. 


But paying fees is normally 
deemed to be pan of the expa- 
triate’s payment package, and 
will usually be subject to lax. So 
it is vital for expatriates and 
their employers to look at the 
local tax regime. In Japan and 
Belgium, for example, lax 
breaks are only available if the 
educational costs are paid di- 
rectly by the company. 

In these countries, expatri- 
ates should therefore ask their 
companies to pay the fees di- 
rectly. Otherwise, an education- 
al allowance will end up in the 
hands of the taxman. 

Pity those expatriates who 
get no help to put their teenage 
children through international 
schools. The cost is punitive, as 
they have to pay for the educa- 
tion with after-tax income. 


Jack Anderson, a tax and le- 
gal partner at Ernst & Y oung in 
Paris, says: “If you have to pay 
for the education, you will need 
to earn another S40.000 a year 
to get two kids through an inter- 
national school. If you don’t get 
any help from the employer, 
that is difficult to handle.” 

To get around this, there is 
the option of setting up a trust 
to pay for your child's educa- 
tion. Normally, money paid 
into such trusts is tax free or 
taxed at a lower rate. 

Unfortunately, for those 
seeking to educate their off- 
spring in the most tax-efficient 
manner, there is no such thing 
as a sound, general, internation- 
ally applicable rule to follow. 
The best general advice is to 
seek the counsel of a tax expert. 


Y OU have just been of- 
fered a job in Riyadh. 
Saudi Arabia. The 
money is too good to 
refuse but there is a problem: 
Where do you send your two 
teenage children to school? No 
western secondary schools are 
allowed in this fiercely tradi- 
tional Muslim country. 

It is a surprisingly common 
problem. Many Americans, 
who make up the major pan of 
Saudi Arabia’s army of expatri- 
ates, have turned to boarding 
schools in Lugano. Switzerland 
and Thorpe. England. 

One advantage to such loca- 
tions is that flights from Riyagh 
to Geneva and London are rela- 
tively frequent, making holiday 
commuting relatively easy. The 
cost of the schools, however, is 
frightening. The TASIS school 
in Thorpe, for example, charges 
520,000 a year for boarders — 
fine if the company is paying but 
financially crippling if it isn’t 
Fortunately, however, most 
expatriates still have such fees 
paid by their company or inter- 
national oiganization. 

“Education is sacrosanct” 
said Silvio Pert London-based 
human resources chief for Gil- 
lette Co., the personal-care 
products concern. "People 
might complain when the hous- 
ing allowance is cut but they 
won’t take the job if education 
is touched.” 


Sacrosanct it may be, but em- 
ployers are still trying to cut 
costs on education, according 
to John Howson, an adminis- 
trator at U.K.- based Oxford 
Brookes University, which al- 
though located in Oxford is not 
affiliated with Oxford Universi- 
ty. “Increasingly, people are of- 
fered contracts to work 
abroad,” he sand. “They might 
only get part of their children's 
educational expenses or noth- 
ing at all. It leaves them with 
some harsh choices, as interna- 
tional schools are often more 
expensive than even local pri- 
vate schools." 

In London, American schools 
cost from $10,000 to $13,500 a 
year for day students, compared 
with $6,500 for the average local 
private school. Bod Findaly, 
head of the UJK.-bascd Educa- 
tional Relocation Associates, or 
ERA, which advises people 
looking for overseas schools, 
wains: “It can cost in excess of 
515.000 per child per year once 
you have taken into account all 
the hidden extras.” 

Indeed, descriptions of - fees 
for school buses, so-called 
building costs and extra-curric- 
ular activities can often be 
found lurking in the fine print 
of application forms for inter- 
national schools. 

A vital step in trying to de- 
fray the costs of education, say 
analysts, can be the simplest 
one: asking the school for fi- 
nancial assistance. Many inter- 


A Parent’s Saga of Climbing the Education- Costs Mountain 


Average 44% P a * or 9 W 




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conservative programme I could achieve a return higher than bank 
interest rates, with minimal risk. From 1985 on. I invested substantial 
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outstanding. I have averaged 44% a. a. over the oast 


9 rears . My smallest annual return ras 26%. 


Every private investor coaid cam the same high return as 1 do 


if he/she followed the same programme and has a minimum of 
USS 40.000 to invest. 

If you would like to know more. I will mail you a full description of 
the programme, with detailed operating instructions, free of charge and 
without any obligation on your part. Just send me your address by fax or 
post. 

One condition please; that you aie a bona Jlde private investor with 
a minimum of US$40,000 (or the equivalent In any currency) to Invest, 
and that you are not replying merely out of curiosity. 

"Private Investor" Fax: +3482 81 0582 
Mail: 207E, p del Duqne, £-29660 N. Andaluda, Spain. 


By Robert C Siner 

T HIS is a personal testi- 
mony on the travails 
of funding a college 
education. It may not 
be ideal for everybody, but it 
has worked for my wife and 
myself. 

Our adventure began about 
10 years ago, when a colleague 
was relating how much it cost to 
send his children to college. 
When he started talking about 
costs of over 520,000 per year, I 
started paying closer attention. 


At that time, our two boys were 
three and five years old. 

A tittle research showed that 
college costs had begun a steep 
climb during the mid-1970s. 
Going further back, what had 
cost about $3,500 when I en- 
tered college in 1960 had in- 
creased over 500 percent and 
was still going up. Earnings — 
at least my earnings — had not 
kept pace. After a period of 
denial, my wife and I finally sat 
down to find out just how much 
money we were talking about. 

Some simple arithmetic gave 
us a figure of about 530,000 a 


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year for a top college by the 
time my boys would be going. 
Multiply by four and double 
and you get $240,000 —make it 
$250,000 to be safe. A cool 
quarter of a million dollars. 
This estimate turned out to be 
surprisingly accurate. 

A quick look at outside 
sources — scholarships, college 
grants, gifts from our parents or 
loans from our employers — 
showed us that none could be 
counted on. We would have to 
raise the $250,000 and we Hnd 
10 years to do it. 

Savings and investment 
seemed the only way. A check 
at the markets and at the cur- 
rent market wisdom revealed, 
encouragingly, that a 10 percent 
annual return seemed like a rea- 
sonable expectation. With a lit- 
tle luck, we thought we might be 
able to raise the $250,000. 

But when we did some de- 
tailed computation, we got 
some bad news. Figuring a 10 
percent return, we would have 
to invest almost $15,000 a year 
to earn $250,000 in 10 years. 
Even if we dropped our retire- 
ment investments and cut back 
all expenses to the bone, the 
amount we could afford to in- 
vest would still leave us 550,000 
to $75,000 short. 

We decided simply to invest 


as much as we could, maybe 
56,000 OT 7,000 annuall y to 
start, and to increase our yearly 
contributions as our income 
grew. It was the bat we could 
do, but if our yearly contribu- 
tions didn't increase by much, 
the plan would still leave us 
over $100,000 short. We began 
monthly investments in quality 
mutual funds. We’d have to 
borrow the rest 

It was a rational plan but one 
destined to fail since, in short, 
our house fell apart around us. 
During a four-year period, we 
had to replace every mechanical 
system in the house and make 
some major structural repairs. 
The costs were over $100,000. 

We decided to consolidate 
these debts into a second mort- 
gage to reduce our payments to 
a manageable leveL Paying for 
college became a lower priority. 

Shortly thereafter, however, a 
bank mortgage officer told us 
that if we really wanted to save 
some money, we should take 
out a 20-year instead of a 30- 
year mortgage. That would, be 
said, cut our interest costs by a 
third and the monthly payment 
would be only a couple of hun- 
dred dollars more. 

I remember thinking- What 


about paying it off even faster? 
Maybe we could pay it all off in 
10 to 12 years. Then we could 
borrow what we needed for our 
kids* college costs. 

We found out that we could 
get a 15-year mortgage at a low- 
er rate, making our payments 
about $500 per month more 
than the 30-year, but allowing 
us to save over half the interest- 
costs. And as our income went 
up, we might be able to pay it 
off faster. 

Three years later, the bank 
offered us a deal in which we 
increased our monthly payment 
by another $100 and paid bi- 
weekly instead of monthly. This 
again cut our interest and, even 
better, trimmed our payoff time 
by another 25 years. 

The bottom line is that, now, 
with the boys just a few years 
away from college age, it looks 
like We'D be able to bear the 
expense. But if each one gets 
into a top college, and no grants 
are forthcoming from the 
schools themselves, well still 
have to borrow about $250,000. 

Make that $200,000. My par- 
ents recently surprised us with 
the news that they've saved 
about $50,000 for the boys’ edu- 
cations. 


national that oHer financial aid • 
do not advertise th&t'fa£& The 
TASIS school* for megapfo, - 
grants large satns ot jsaaey t 
each year tc^bcte parenfe foot * 
the bilk. .«>'■ • -Wr r"-. * 

Fred Kovak director ad- ; 
missions at the TASIS ScbooL : 
says: • 

aid progra ms . We jeok at -i% ; 
comes and whether or dot the ; 

ship for tidtiosC xoomj^and > 
board.” ^ ; 

Of course, evet^ lh e o dm^- v 
ny is paying fee'lfi#, picking 
the right sc&kil fotfy&te •• 
dies when you* move abroad - 
isn't easy, ChSdrao often fed / 
unsettled, and thoeislheprob- A. 
lem of which type of school sys- 7 
tern you want for yarn-children. 

In some capital cities, stich as 
Brussels, Jakarta. Bahrain and 
Paris, the choice can be bewil- 
dering. Should one’s children ; 
go to a school with a “national” 
curriculum based an those in 
one's home country? Or would 
an international baccalaureate 
program be better? What about 
local schools? 

The decision often depends ' 
upon the age of the children 
and the executive's future ca- 
reer plans. For children under 
the age of 14 the curriculum 
may not be that important, say 
some analysts, as there are con- 
siderable benefits to a local 
school where a new lan gimge 
and culture can be learned. 

Margaret Grandy, head of 
admissions at the American 
School in London says: “Some 
American parents want their 
children to speak French so, 
when they move to Paris, they ' 
will put them into local schools. 
Others want continuity, which 
is why they chose schools like 
ours.” At the American School, • 
a UJS. curriculum is taught, but 
the students play rugby, not 
American footbalL pt 

If the posting abroad is only * 
for a few years, say other ob- 
servers, it may be best to find a . 
school offering a national cur- 
riculum in Order to minimi? ft 

disruption for the child. But ex- • 
ecutives likely to be sent abroad 
again should bear in mind that 
the next country might not have - 
such a curriculum available. 

American, British and 
French expatriates have the 
greatest chance of finding a . 
school offering their national 
curriculum around the world. 1 
For other nationalities, it may 
be better to start children in an 
international baccalaureat pro- 
gram, even if a national curricu- 
lum school is available in the ; 
first posting abroad. 

Roetta Mirgain, admissions 
dnrotor at The Internatio nal 
School of Brussels, says: 
“Swedes may have difficulty i 
filing a Swedish school in their 
next posting. That’s why they ' 
consider sending their children 

?. thou 8 h Acre's a 
Swedish school in Brussels” 



A 



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2bl» 


To: The Manager. Robeco Bank (Luxembourg) SJL, 3 rue Thomas Ediwn. L-1445 Luxembourg. F as . /«,. s . 

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^Ptr.sc, tola 


onagers? 

WrRi .: ,1. „ 

i!.. t lfcrE 

\ \\K ■;■ 


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hon'd rat: 


tii.-nji ?e 

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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 15-16. 1994 


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INTERN ATIONAL 



TRIBUNE, SATURDAY-SUNDAY, OCTOBER 15-16, 1994 



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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 15-16, 1994 


Page 21 



Is the European MBA 
Becoming a Mediocre 
Business Accreditation? 


European MBA Programs 


Annual tuition costs, 1994 


Eastern Europe Looking to U.K. Schools 




bftWntiicv 




By Barbara Wall 

N today’s tight job mar- 
ket, recruiters can afford 
to be choosy. Even the 
mueb^vaunted Master of 
Business* Administration de- 
gree, or MBA; may be scorned 
a it doesn't bear me stamp- of a 
top schooL 

Once upon a time, all of the 
top business schools were in the 
United States. But European 
business schools, according to 
some analysts, have taken great 
steps forward over the past 
deaede. One question today is 
whether European schools of- 
fering MBAs nave gone into de- 
cline along with the job market 
tbeyserve. 

“There was a spell during the 
*«md- to late 1980s when com- 
merce and industry had an insa- 
tiable appetite for MBA gradu- 
ates,” said Pierre SaJzmann, 
director of public affairs at the 
International School fen- Man- 
agement Development, or IMD, 
in Lausanne, Switzerland. 


Vail - ^ number of observers be- 

lieve that the problem is not the 
t preponderance of MBA gradu- 

ca£ b affo£ a ^>t the dearth of schools 

Evm the offmng top-notch programs. 
MastprT? Tlecnniers will always be at- 
traded to reputable manage- 
!?2Lm5 mem spools," said Mr. Salz- 
masUL But “argmal academic 
siamp-or a institutions are turning to MBA 
R ii tH _ programs as potential money 

woe in the practice is 

reflected in the standard of the 
MBA being offered. The top 
* Profit 

tK< . from the MBA program, as any 
n ?“P lus cash is plowed back 

i.2£ y J? mto research. 

“Los 8 scrupulous establish- 
meats, however, will spend the 
oo maricci bare minim um on course mate- 
, . . dal, pack the classes as full as 

S*™*™ possible, and employ tutors 
j ? Mn “ with little or no teaching experi- 
an msa- And, they get awav with 

BA gradu- 

5 ? kin f^ Roger McCormick, director 
V s general of the Association of 
/ a London-based trade 

t, or 1MU, association representing UJi. 
antL schools that offer MBAs, said 


By Rupert Bruce 

Bradford University (U.K.) $11,290 59,480* T N the days before the Iron Curtain 

City University (U.K.) 11,860 20,540* I came down, the grandaughter of for- 

riwioM /ii ~ : nrvo _ ‘ I mer Russian leader Josef Stalin was 

Cranfield (U.K.) 15,800 12,640 X one of the few children from Easitra 

European University (France) 9,120 NA Europe or the former Soviet Union to 

Imperial College, London 12.640 14,230 ~ S ^ 

INSEAD (France) 27,560 d) NA tuition are referred to in the United King- 

IMD (Switzerland) 29,680 NA d °^* L . . 

: — - — — — ; — But that is changing, as some students 

London Business School g) 15,000 33,970* from the fonnerSoviet bloc have been 

RVB (Netherlands) 17350 14380* to “ake use of new freedoms and 

r: .. . . — TTlTl — 7 , — -rrrr — affluence to gain a traditional, British 

Strathclyde University (Scotland) 1 1 ,850 3,550 boarding-school education, one aimed at 

* Taw con tortha cour»: gaining admission to a top university. 

SSSSSSSSXA^^ . *£*???* “W* 

AbbreviitJonc INSEAD: European Institute of Business MminJarBlJon. MD: Institute Ural bCHOOlS .liOITtiatlOll Service, OT ISIS, 
grMwwgeinsnt Davaiopmem. RVB: Nathartands IraamabonaJ inttkuta tor Management there are DOW more than 100 fec-paving 

Qavakapmant _ students from the former Soviet Union 

Source: As soci at io n of MBAs; Business seftoefe. iht enrolled in British schools. Moreover, 

while the few students who came to Eng- 
But since the European MBA dents must forego opportuni- land durin g the Communist years tended 
market has not yet reached a ties to mix with their peer group to be the sons and daughters of govern- 
saruration p oint , some analysts and to take part in joint work meat officials, today’s are the offspring of 
feel the marginal schools will projects and research activities, successful entrepreneurs. 

their , ‘Teamwork is mi important John Towey. head of ISIS’S internarion- 
marfcet share. “The UJC is one dement m any MBA program, al branch, said he is aware of about 40 


Bradford University (U.K.) 511,290 59,480* 

City University (U.K.) 11,850 20,540* 

Cranfield (U.K.) 15,800 12,640 

European University (France) 9.120 NA 

Imperial College, London 12,640 14320 

INSEAD (France) 27,560 01 NA 

IMP (Switzerland) 29,680 NA 

London Business School p) 15,000 33,970* 

RVB (Netherlands) 17350 14380* 

Strathclyde University (Scotland) 1 1 ,850 3,550 

* Total con tor the courser 

{1} Cost tnctooea rasearcn materials and books. 

B) London Busins3s School offisis a two year MBA program. 

Abbreviations: INSEAD: European Institute of Business AdmfnfeiraUon. MD: Institute 
tor Management Davaiapmaru. RVB; Nathartands International Institute tor Management 
OowtapmenL 

Source: As soci a tio n of MBAs; Business schools. IH1 


saturation point, some analysts and to take part in joint wc 
feel the marginal schools will projects and research activities. 


icci me m arg i nal scnoois wiu projects and research activities, successful entrepreneurs. 

‘Teamwork is mi important John Towey. head of ISIS’S internanon- 
market shares. “The UJC. is one dement m any MBA program, al branch, said he is aware of about 40 
gLf* Jiff™ E ^ od E? ers °l because helps develop analyt- such students who matriculated to UJC 

capatehws and mtoacnve schools last month, adding that there are 
- Y - 1 S 328 * said Helen Henderson, bound to be more. But why bother send- 


said Mr. McCormick. 
MBA production in Bri 


MBA production in Britain is director erf admissions at IN- fog children to a school so far away? 
snfl only one-third of that m the SEAD. “And if the student ® It . M nm i» 

U S. even on fl nnrniTat inn.n<t_ Kn/lv ic multinalinnil fiill-timo- . . . ^ a mixture of things, said Bn* 


“However, the proliferation the United States has also suf- 
of MBA degrees and Europe- fered a glut of MBA programs 
wide economic recession has, during the last decade: He add- 
quhe naturally, led recruitment ed, however, that as appHca- 
companies and the media to tions have tailed off, there has 
question the value of an MBA been a noticeable shake-out 


U*e™„a . population- MkMMte Und^h^STsuS^-S 

J A SDokesman for the Fnrorw cxposure Newlands Manor, whose tuition is a hefty 

JgSSEcnSgSSZi "ggSFS+m schools 

Development, a BrusseL^-based have bStiirough a difficult students ^ bom the 

trade group, said that negative patch, but observers agree that of 

publicity surrounding some the next few years stouJd be - 

MBA programs has haa a posi- 
tive effect because it has en- 


qualiflcation.” 


among providers. 



>v?r o;ig month io OcX. 3,1994 

ISSiiiiBPiiiiiiP 






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land 

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I*" Over five years fc Cel. 3, 1934 

» pp«ii 



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Source: Maopai 


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“The new buzzwords in the 


ish public-school system’s reputation for a 
rigorous intellectual education. 

Mr. Underwood added: “I have one 


couraged the majority of busi- 1UC ncw mt- unoerwooa added: T have one 

ness schools to improve their coipOTatewtjrid are downsmng boy wh«e parents own what is probably 
courses. “During the last few ?? d < S a3 !S2?' i 4r -. M P* Moscow’s best restaurant. He cannot go 
yeStoteWa n«JE Conmc ^ ^ *®? ctlB ^ 001 for fear of ^8 kidnapped. Oth« 
improvement in the quality of P 1 *?^ 15 ^ com P ames “« are sent here to get away from the poDu- 
programs across the board." “““S t0 , em P ower . al a more uon m places like Kiev in the Ukraine, 
said the spokesman. jumar level, so recruiters should which is close to ChernobyL" 

While some corporations “jSSS JSSESi^ 1 ^^8 10 ^ W ■ the r,rst .^ 
have criticized MBA programs era Europrans started tuniing up m bs 

for bong too academic aS too ersw,lh good MBA de S rees - London office two years ago. Initially, be 
cut off from the real world of 
business, many top schools 
have reacted by forging closer 
links with industry. Indeed, 
some companies now advise 
universities on the design of ,/ . I 

MBA programs and actively- •• I I _ I 
support research efforts. I f 

Schools such as LBS and the I I K I f 

European University, more- | , ^ I I j 

over, are placing greater cm- 
pharis on the importance of 
field visits to businesses and of- 
fices, as well as encouraging 
companies to take a direct in- /j 

terest in school projects. XH | i 

Jerry Huxell, associate dean I \_ r^* | 

of the Netherlands International 
Institute for Management De- 
velopment, a school known as . — ■ — 

RVB, believes the best way to 1 | A L 

prepare students for a manage- I — I I XI 

ment position is to encourage 1 I J I 

specialization. He said compa- | «« 

mes are expressing a preference 
for graduates with spcafic skills, 
because they tend to become 
productive within the business 
world relatively quickly. 

Students at RVB spend the 
first six months in a basic 
course that offers teaching in 
core disciplines such as ac- 
counting, economics, finance 
and marketing. The student 
then selects a particular area to 

specialize in for the next six A 

months. One of the most popu- M 

lar areas, according to Mr. Hux- f 

ell, is that of general and strata- 

gic management. ^ 

A recent development on the 
MBA scene is the growth of 

f tart-time and off-campus 
earning programs. Many 
schools that offer such corre- 
spondence courses are based in 
Britain, among the best-known 
being The Henley School of 
Management, which currently 
has 6,000 students registered in 
its MBA program. 

An often-mentioned draw- 
back to correspondence 
courses, however, is that stu- 


To meet growing demand, a number of 
agencies have started up, which, for a fee, 
will research and recommend U.K. 
schools for foreign parents looking to 
place their children. Mr. Towey said he is 
reluctant to endorse any of these, howev- 
er, as some do not cover a comprehensive 
range of schools. 

Citizens of the former Soviet Union 
seem more able to afford British school 
fees than those from the rest of Eastern 
Europe. Indeed, say experts, there are few 
fee-paying students from countries such 
as Poland and the Czech Republic auend- 


Some students from the 
former Soviet bloc have 
been able to make use of 
new freedoms and 
affluence to gain a 
traditional, British, 
boarding-school 
education. 


tng school in England. There are, however, 
a number of sixth-fonn students, or those 
about 1 6 10 1 8 years of age, who have been 
granted free places. 

The Headmasters' Conference East Eu- 
ropean Initiative, a privately-funded pro- 
gram aimed at bringing Eastern European 
Students to British schools, has given 76 
full scholarship places to pupils this year, 
having given 55 in the 1992/1993 school 
year, the first in which it operated. The 
program grams places to teenagers or out- 
standing academic ability and unspecified 
personal qualities. 

Robin Schlich, the European liaison of- 
ficer at the £12310-a-year Uppingham 
School in Leicestershire, which has a num- 
ber of scholarship pupils, says that the 
“personal qualities" may include all sorts 
of things. Uppingham, for example, has a 


“wonderful violinist from Prague." he 
said. 

“Some of them are obviously outstand- 
ing sportsmen, and many of them do all 
sorts of things like editing student news- 
papers,** said Mr. Schlich. “1 think we are 
really looking for the son of people who 
are going to be the leaders of the next 
generation " he added 

Other British schools often considered 
by Eastern European parents, say observ- 
ers, include Holmewood House, a prep 
school based in Tonbridge Wells, Kent, 
and Taunton School, in Somerset. In Brit- 
ain, so-called “prep" schools are for 7- to 
13-year-olds, while "public** schools are 
for 13- to 18-year-olds, 

While the fees of such schools are evi- 
dently within the means of some East 
European and Russian parents, there are 
many more, of course, who wish to send 
their children to Britain but simply can't 
afford it. Roger Wicks, headmaster of 
Kent College, a public school in Canter- 
bury whose tuition is £9,627 a year, said he 
had two students from Lithuania enrolled 
for this year’s fall term. But he received 
short notes from each set of porenLs — one 
the day before the term started and one 
the day after — saying that the students 
would not be attending. 

No reason was given, but he .said he 
suspected that tuition costs were the prob- 
lem. 

There have also been unsurprising 
hitches with a few children. “There have 
been problems with a few Russian chil- 
dren who have turned up unable to cope 
linguistically or emotionally, in that it is 
simjjly^a huge culture shock," said Mr. 

But the benefits of having students 
from Eastern Europe in Western schools 
are many, according to those who teach 
them. Indeed, many teachers enthuse 
about the benefits to teenagers of meeting 
others from different cultures and say that 
such exchanges should draw Western and 
Eastern Europe closer in the future. 

And as more parents living in the East 
reach higher levels of affluence, some add, 
more of their children are likelv to attend 
schools in the West. 


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Page 22 


SPORTS 

Browns Nearly Shut Out 
Oilers, Run Mark to 5-1 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 15-16, 1994 


By Bill Plaschke 

Las Angeles Tima Service 

HOUSTON — They have a 
color-blind quarterback famous 
for hitting receivers in the num- 
bers. That is, the numbers on 
their backs. 

They have an old running 
back whose claim to fame is the 
worst fumble in team history. 

They have two former Pro 
Bowl linebackers who are mak- 
ing their first important tackles 
in eight years. 

Their biggest and best defen- 
sive player will never have a 
catchy nickname like “The Re- 
frigerator'* — because he is the 
The Fridge’s little brother. 

But before Michael Dean 
Perry interrupts this story with 
one of those giant swats that 
helped put down the Houston 
Oilers on Thursday night, one 
more thing should be noted 
about the Cleveland Browns. 

They own the National Foot- 
ball League’s second-best re- 
cord after an 1 1-8 victory over 
the Oilers at the Astrodome. 


And if you don’t think this 5- 
L team is a legitimate American 
Football Conference Super 
Bowl contender, then you 
haven’t been watching a confer- 
ence where nobody rattles face- 
masks like this anymore. 

“Sooner or later, people are 
going to start paying atten- 
tion,” said cornerback Don 
Griffin after the Browns* fifth 
consecutive victory. “We’re go- 
ing to make them.” 

If they do. it will be with 
people like the bland coach. Bill 
Belichick, erratic quarterback 
Vinny Testaverde, prehistoric 
r unning back Earnest Byner. 
and fonner New York Giants 
linebackers Pepper Johnson 
and Carl Banks. 

But it will mostly be because 
of team defense. 

The Browns came within 28 
seconds of pitching their second 
shutout, nearly causing an Oiler 
team to leave the field scoreless 
for the first time in five years. 

They have allowed only four 
touchdowns in their last four 


The Week 7 Matchups 


New York Times Senior 

Philadelphia (4-1) at Dallas 
(4-1): The game for first place 
in NFC East Eagles lead league 
in time of possession (37:01), 
Cowboys’ Alvin Harper leads 
league in yards per reception 
with 30.9. Eagles' pass rush has 
at least three sacks in the last 
four games, but will have to 
stop Emmitt Smith, Michael Ir- 
vin, Troy Aiknxan and Harper. 
Odds makers favor Cowboys by 
8V4 points. 

San Francisco (4-2) at Atlan- 
ta (4-2): The game for first 
place in NFC West Falcons, 
whose 15 interceptions lead 
NFL, have been gaining confi- 
dence, while 49exs have had 
theirs shaken quite a bit. With 
offensive line still shaky, Steve 
Young is averaging 43 yards a 
cany. 49ers by 5. 

LA. Raiders (2-3) at Miami 
(4-2): Raiders’ Terry McDaniel 
has returned two interceptions 
for touchdowns and, with five 
interceptions, is tied for lead in 
NFL. But Dan Marino has 
thrown 15 touchdown passes, 
most in NFL, and Dolphins 
have converted 70 percent (7- 
of-10) of fourth down attempts. 
Dolphins by 4% points. 

Indianapolis (2-4) at Buffalo 
(4-2): Bruce Smith’s 7 sacks 
leads AFC, while Bills have 
won eight of last nine against 
Colts, and in convincing fash- 
ion. But Marshall Faulk’s 752 
yards from scrimmage leads 
AFC, and Jim Kelly has been 
struggling behind shuffled and 
ineffective offensive line. Colts’ 
revamped pass rush, anchored 
by linebacker Tony Bennett, 
could have a big day. Bills by 9. 

New York Jets (3-3) vs. New 
England (3-3): Jets found some 
offense last week with running 
back Adrian Murrell coming off 


bench to rush for 65 yards. They 
will need more to beat Drew 
Bledsoe, who leads NFL in pass- 
ing yards with 2,072. Jets by 3. 

Arizona (1-4) at Washington 
(1-5): Cardinals have No. 3 
rushing defense in NFC (68.6 
yards), but quarterback meny- 
go-round continues. Steve 
Beuerlein might be starting if 
Jay Schroeder’s injured elbow 
isn’t well enough- Redskins’ 
Brian Mitchell leads NFL in 
punt returns with a 19.8 yards 
average. Cardinals by 2. 

Cincinnati (0-5) at Pittsburgh 
(3-2): Barry Foster has rushed 
for 433 yards in last four games 
against Ben gals, Steelers have 
14 sacks in last four games. 
Steelers by 12 Vi. 

N.Y. Giants (3-2) at LA. 
Rams (2-4): Rams ’ Jerome Bet- 
tis is No. 2 rusher in NFL and 
has gained 100 or more yards in 
four of the last five games. Gi- 
ants’ ailing running back Rod- 
ney Hampton (bruised kidneys, 
back injury) should be stronger 
this week and provide more 
thump on offense. Giants by 3. 

San Diego (5-0) at New Or- 
leans (2-4): Saints’ offensive 
line has allowed one sack in last 
three games and its three sacks 
allowed are fewest in NFL But 
running game is anemic. For 
Chargers, Stan Humphries' 8.82 
yards per pass play leads NFL, 
and has Natron Means as 
sledgehammer in backfield. 
Chargers bv 3. 

Kansas City (3-2) at Denver 
(1-4): Chiefs' offense hasn’t 
scored a touchdown in eight 
quarters, but Broncos gave up 
nine touchdown passes in first 
three games. John Elway has 
thrown five touchdowns and 
five interceptions. Chiefs by 1. 

These matchups were com- 
piled by Timothy W. Smith. 


games, and are allowing a 
league-low 11 points per game 
for the season. 

But their most impressive 
statistic was two: The number 
of gloves taken from rookie cor- 
nerback Issac Booth as he left 
the field. 

Booth, who thwarted two 
fourth-quarter drives with an 
end-zone deflection and inter- 
ception at the eight-yard line, 
made the mistake of sticking his 
hands in a makeshift end-zone 
“Dawg Pound” filled with 
Browns fans. 

He learned that, with the 
team off to its best start since 
Jim Brown was playing in 1 965, 
the people in those pounds bite. 

This defense is so good, it 
intimidates the offense, which 
accumulated 193 yards and the 
touchdown on a 25-yard pass 
from Testaverde to Mark Carri- 
er in the first half. 

And then shut down. The 
Browns gained just 67 yards in 
the second half. 

“We know we’re going to get 
the ball in good field position 
from our defense, and we know 
we had better capitalize,” said 
Testaverde, who threw two 
more interceptions to give him a 
league-leading 10. 

Winning the games they are 
supposed to win with a third- 
place schedule, the Browns 
could finish the season at 11-5, 
and home-field advantage for 
the wintery postseason. 

It all depends on whether 
they have any gloves left. 



San 


The Oilers* Buckey Richardson just got off a pass before being sacked by 


• ■Xvr' 


In SiixtLsina/Remcr, 

Rob Burnett 


SCOREBOARD 


*~ r ? . : - ----- 


Aslan Games 


BADMINTON 
Semifinals. Man. Slavics 
John Sueriaata. Indocmla. dcf. Kim Hok- 
kvun. South Korea 154. 15-5; Hertyonlo Arbi. 
Indonesia del. Dons Jiang, China. 15-7. 157. 
BASEBALL 
Cold Medal 

Jason 4 South Korea 5 

Bronze Medal 
Taiwan 9, CMno 4 

BASKETBALL 
Men, For 7th Place 
Saudi Arabia 95, Iran 87 

For Sib Place 
Kazakhstan 75, Taiwan 66 

CYCLING 

Mea Sprint Gold Medal 
Tashlnabu Salta Japan, def. Hvun Byunv- 
chul. South Korea 

Bronze Medal 

Toshtyukl Ona Japan, def. n. Nut Roctiman. 
Indonesia 

4-Kllorn«f*r Team Parsolt 
1. South Korea (Hero Suk-han. Jt Sung- 
hwan. Oxotb Younvhooa Park Mln-saol. 
4.-21901 (Aslan record; old record 4:2L357. 
J roan. 1993]. 2, Kazakhstan, 4:23JH15.X Japan. 
4:25498. 

Women. Sprint. GaW Medal 
Wotb Yan. China, def. Charts Yu&tn, China 
Bronze Mittal 

Lu JMuia CMno. def. Yang Mslu-chen. Tai- 
wan 

FIELD HOCKEY 
women 

China 1, India 0 
Uzbekistan 6. Singapore 0 
South Karoo 4, Jroan 0 
GOLD — South Korea (504); SILVER — 
Japan (3-M); BRONZE — China 12-1-2). 
HANDBALL 
Mea 

Chino 23, Saudi Arabia 22 
South Korea 76. Japan 21 
GOLD — South Korea (HI: SILVER — Ja- 
pan (2-2); BRONZE — China («>. 

JUDO 

Women, 52 Kilogram* GaM Medal 


Hvun Sook-hce. south Korea, del Atsuko 
Talced a, Joccn. Ippon 

Bronze Medals 

Wang Jta China and Tseng Hsiao- fen. Tai- 
wan 

54 Kilograms. Gold Medal 

Jung Sun-yang, South Koreo. del. Norlko 
Suoowani. Japan, vusei 

Bronze Medals 

Uu Chuong. China, and Poonam Chopra. 
India 

Men, <5 Knograras. Gold Medal 

Yuklmasa Nakamura, Japan, del. IvonKar- 
aseUdL Kazakhstan, Ippon 

Bronze Medals 

Hoc YL China, and Dashgomba Baftulgo. 
Mongolia 

71 Kilograms. Gold Medal 

Chung Haan, South Korea def. Shlgeru To- 
yama. Japan, vusei 

Bronze Med al s 

Ismail Vcc h ogour ov. Kazakhstan, and Ha- 
Hun Boldboator. Mongolia 
KABADOI 

India <t Pakistan 20 
Pakistan 49. Japan 18 
India 84. Nepal 32 

GOLD — India (44); SILVER — Brogla- 
desfl (3-1); BRONZE — Pakistan 12 2). 

TRACK AND FIELD 
Men 

M OO Meter Steeplech as e 

I. Sun Ripens, China. 8:31.73. (games re- 
cord; old record 8:3AM. Kazuhlro Yamoda. 
Japan. (9901. 2. 5 Al-Mazazoe. Saudi Arabia 
8:3354. X Yosunori Udiltoml. Japan. 8:37.74. 
PMe Vault 

l.locr Potopovlch, Kazakhstan's (games 
record. oW record 5*2, Lions Xucrens. China 
19901. Z Grigory Egorov. Kazakhstan. SSL 1 
Kim Otul-kyun, South Korea 540. 

Shot Pot 

L Liu Hoa China 19-34 meters (games re- 
cord; aM record 1589. Cheng Shoofca China 
1990) aJergey Roubfsav, Kazakhstan. 19.24.3, 
Xle Shengylng. China. 1844. 

Triple Jump 

l.Oleg Sakirkln. Kazakhstro. 17JI.X Tafco- 
std Komatsu. Japan, 1*88. X Serge v Ammo- 
sov. Kazakhstan, 1457. 

Discos 

1. Zhang Cunblao, China 5878. Z Mo Wei. 
China 5772. X Vadim Popov. Uzbekistan. 
3478. 


De c at h lo n 
(after 5 events) 

1. Ramil Ganiev. Uzbekistan. 420. Z Cal 
/Win. China. 4851. X Oleg veref einlkov, Uzbek. 
I *°"‘ women 

100 Meters 

l.Uu Xieomef. China 11.27 (games record; 
aid record 11*0. Tian Yumel. China IW0I.X 
Wong Huef-cnen. Taiwan. 11.41. 3. Huang 
Xloo van. China. 1141 

coo Meters 

I.Ma Yuabi China. 51.17 (gomes record : o id 
record 52. IX LI Guidon, China |o*0l. X Zhang 
Henpvun, China. 52*1 X S uiiiiiik i K. Sot- 
□mm a. imSa SZ57. 

400-Meter Hardies 

1. Hon Olna China 54.74 (gomes record old 
record S58X Leng xuevan. China, !*•«>. X 
Lena Xuevan. Chino. S&36. X Hsu PM-enin. 
Taiwan. 5575 

Discus 

l.Min Chunteng. Cnina 6X51 Z Ikuka Klla- 
marf. Japan. 5191 X Mlvofco Nakanbhi. Ja- 
pan. 49 AC 

High Jump 

I, Svetlana Mounkova Uzbekistan. 1.97 me- 
ters. X Svetlana Zalevsko va. Kazn KAslon, 189. 
X ftasamee Taemsrl Thailand 181 
WUSHU 

Women. Tafllaoan 

I.Gaa Jlomln. Chino. 9*1. XNaoko Masuaa 
Japan. 970. X Ton Mul Buav. Singapore. 9*0. 
Change aaa 

1. Zhuang Hul. China 29J1. Z Moml Matsu - 
mura Jopan, 2853. X Chlew Hul Yan. Singe, 
pore. 28*5.4 Yuri Kamlnlwa Japan. 283Z 5 
Nauven Thl Thuv Mien. Vietnam. 2831. 4. 
Dayaddorl Ariuntuss, Mongolia 2801 
Men 

CtMARRUOfl 

1. Yuan Wenqlng. China. 2938. Z Pork Chan- 
dea South Korea. 78*4. X Hiroshi YosMoa. 
Jrooa 28*4. 4 Hldea Nlnomiva Japan.2859. & 
Soe-tem Sodrt. Macao. 28J9. 4. Chav Yeen 
Ona Malaysia 78*8. 

TABLE TENNIS 
Mea Slagles, semifinals 

Yoo NorrHtVu. South Korea def. Mo Wenge. 
China 21-17. 1841. 21-14 21-14 

Wang Taa China def. Kim Toek-soa South 
Korea 31-15, 21-17. 21-17. 

Gold Medal 

Wang. China def. Yoa Sooth Korea 34-22. 
21-17. 20-22. 2V1Z 


WATER POLO 
Kazakhstan 10. Iran 6 
China 19. Singapore 6 
Japan II. South Korea * 

Medals Table 


China 

South Korea 

JQPan 

Kazakhstan 

Iran 

Taiwan 

Uzbekistan 

India 

Syria 

Philippines 

Malaysia 

Kuwait 

Qatar 

Indonesia 

Thailand 

Souai Ara&lo 

Turkmen. 

Mongolia 

Vietnam 

Singapore 

Hong Kona 

Kyrgyzstan 

Pakistan 

Jordan 

UAE. 

Mocoa 

Sri Lanka 

Broslodesh 

Brunei 

Nepal 

Tajikistan 

Burma 


"• - fl. —jrrv 

\ 

BASEBALL 
American League 

OAKLAND— Activated Steve KorserY. 
pitener, and Lance Blankenship and Steve 
Sax. Inflelders, (ram 4dday disabled list. Sent 
Ed Vosbera, Pitcher; Eric Fax. outftolder; 
om Jim Bowie and Francisco Matos. Irtfield- 
er*. outright to Edmonton. PCL. Named 
Grodv Fuson director of scouting. Promoted 
Dick Bogorri. scouting director, to special os- 


Special Mediator c 

In Baseball Talks 

Tae AUtxaiud Prat ’ 

NEW YORK — In an effort to revive talks between major; 
league baseball players and owners, the Clinton udmmKtratKm. 
said Friday that a fonner labor secretary, WJ. Uw)‘. would act as* 

a special mediator in the dispute. > 

Usery was mediator during the 1974 National Football League, 
strike. He was a labor secretary in the Ford administration and; 
head of the Federal Mediation and Conciliation Service under. 
Presidents Nixon and Ford. > * 

When football players struck for 44 days before the 1974 NFL r 
season, Usery helped settle the dispute before the season began.. 
He also helped end the six-month cool miners’ strike ■last year. ’ 
Usery, called the nation’s top mediator by the Labor Depart*, 
ment, is known for long negotiating sessions — up to 44 hours • 
and prodding the parties. 

“110 cajoled, he yelled, but the most important thing. Bill Usery. 
refused to throw in the towel." Thomas Hoffman, a spokesman* 
for the coal operators, said last year. , . 

Players and owners haven’t met since Sept. 9, five davs before- 
owners canceled the World Series for the first time since 1904. The., 
sides met just three rimes since the players struck Aug. u. 

Officials of the FMCS, led by national director John Cal horny. 
Wells, entered the talks the day after the strike began, but werft* 
unable to produce any breakthroughs. ‘ 

NHL’s Dispute Spreads i 
To Lockout in Europe 


By Joe Lapointe 

IVnr York Tima Service 

NEW YORK — The Nation- 
al Hockey League's labor con- 
frontation has spread beyond 
North America with Rene Fa- 
sel. president of the Interna- 
tional Ice Hockey Federation, 
announcing that locked-out 
NHL players will not be al- 
lowed to join any teams in Eu- 
rope during the labor dispute. 

The issue of European cm- 


sUtortt for scouting opera tio ns, and J.P. Ric- 
clordL East Coast scouting supervisor, to no- 
tlonai crass checker and special assignments 
scout. 

TEXAS— Announced thot Junior Ortiz, 
catcner. and Bill Ripken, hiflelder, refused 
outright assignments and elected free agen- 
cy. Assigned Tim Leary, pitcher, and Chris 
James and OddlbeMcDowelLouHMderxout- 
riant to miner leagues. Activated Jack Arm- 
strong. pitcher, and Gary Redes, outfielder, 
from 60-dev disabled nst. 


NBA Preseason 

Thursday's Gaines 
Cleveland 117. Washington l#3 
New York 1IX Philadelphia U 
Phoenix 129. Denver 110 
Utah MX Golden Stale 107 

■ 

SEIKO SUPER TOURNAMENT 
Sing lex Quar t er fleota 
Jacco Eltlngh HO). NelheriandXder. Jona- 
than Stark 114), UA. 6-X 7-4 (7-l)t Stefan 
EOberg (3), Sweden, def. Brett Sieved. New 
Zeatrod. 4-4. 4-J; Goran Ivanisevic (1). Cro- 
atia dot Richard Kraikok (9). Netherlands. 
7-* (7-1 1.7-4 (»*).- Michael Chang (4). U-S-def. 
Todd Martin (4). US. *X 7-4 18-4). 
FILDERSTAOT WOMEN'S TOURNAMENT 
Quw fei ■finals 

Marianne WenSel, U^,deL Martina Hingb. 
Switzerland. 04 6-2 7-6 17-5) ; Anke Huber (8), 
Germany def. Martina Navratilova (2I.U.S.6- 
334 4-4 


■■ ■M U a« 


ONE-DAY INTERNATIONAL 
Pnktstro vs AdstrMla 
Friday, ia Mutton, Pakhtot) 
Pakistan Innings: 200-8 (50 avers) 
Australia 202-3 (46 avers) 

Result: Australia wins bv seven wickets. 


ployment is coming to a head, 
because about 100 NHL play- 
ers come from European coun- 
tries where seasons are under 
way. Several players and their 
agents have talked with teams 
in countries such as Sweden, 
Finland and Russia. 

“We don’t allow NHL play- 
ers to play in Europe." Fasel 
said Thursday in a telephone 
interview from Switzerland. 
“They have a contract with th«r 
NHL and it’s not so good that 
they may play one month and 
gp back after that’’ 

Fasel represents a worldwide, 
organization with 50 federa- 
tions. The IIHF recently signed* 
a three-year agreement with the 
NHL to co-operate on transfer 
payments, Olympic participa- 
tion and other tournaments. 
The contract has to be ratified, 
by the NHL Players Associa* 
lion, and it hasn't been yet. 

FaseTs statement came as a 
surprise to Don Median, a pow- 
erful Toronto-based agent who' 
represents several European di- 
ems, and to Ron Saker, another 
top agent who said five or six 
European teams were bidding 
on the part-time services of 
Vancouver’s Pavel Bure. 

“This would be very disturb- 
ing." Salcer said. 

Another agent, Mark' 
Gandler, said he was trying to 
place several of his clients in 
both Europe and in the Interna-, 
tiona] Hockey League, a strong 
minor league based in the Unit- 
ed States. 

Gandler said that if Europe- 
an players were prevented from 
working in Europe during a 
lockout, he would sue the NHL. 
Among his clients are Alexei 
Yashin of the Ottawa Senators, 
and Alexander Zemak and Va- 
leri Zelepukin of the Devils and 
Darius Kasparaitis of the New 
York Islanders. 


DENNIS THE MENACE 


PEANUTS 


CALVIN AND HOBBES 


I Dear ftsp TO COMPROMISE 
PMHCIPIES. BECAUSE THEN 
OCHV HME THE SLIGHTEST BEARING 
om mw wABQ&Tt) mm. 




























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SPORTS 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNPAY, OCTOBER 15-16, 1994 


Page 23 



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Pavin, Ballesteros and Faldo Are 
Overmatched on Day of Hot Shots 


* . Koran DoOeny/ Reusers 

• ; ‘ii n; iv t Corey Pavin (right), examining the lie of his ball with his caddy, lost his potting stroke against Vijay Singh. 


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70f A non aied Press 

VIRGINIA WATER. Eng- 
land — Former champions 
Corey Pavin, Nick Faldo and 
Seve Ballesteros shot magnifi- 
cent rounds of golf Friday — a 
combined 28 under par — yet 
ail three were ousted in the sec- 
ond round of the World Match 
Hay Championship. 

Defending champion Pavin, 
who carded two rounds of 67 on 
the par-72 West Course at 
Wentworth, missed a 9-foot 
putt for victory at the 36th bole 
before losing to Vijay Singh at 
the 37th. 

Ballesteros made 14 birdies 
— including seven 2s — but 
Ernie Els was even hotter as the 
third-seeded South African 
won, 2 and 1, in a record-setting 
match that also ended the Span- 
iard’s bid fora record sixth title. 

Faldo, a two-time winner 
here, had two eagles in rounds 
oF 68 and 66, but he lost to 
Colin Montgomerie by one hole 
before a record crowd for the 
event of 16,120. 


“The only thing that irritates 
me is that I had the match in my 
hands and l let it go." said Pa- 
via, who blew four leads in the 
see-saw battle with Singh. “Vi- 
jay played really well, and he 
took advantage of some of the 
mistakes I made coming in. and 
that’s why he won. I made more 
mistakes than he did.” 

After missing his putt at the 
36th that gave Singh the hole 
and tied the match, Pavin put 
his tee shot into the right rough 
at the par-4 37th. His 5-iron 
approach did not find the green 
and presented a difficult lie. 

A chip past the flag left an 
18-foot putt for par, which he 
missed to set up Singh’s 4-fooi 
par putt for victory. 

“That was a good win, for it 
seems to have been a very long 
day,” said Singh, who will play 
Montgomerie in Saturday’s 
semifinals. “I am very, verv 
tired.” 

Els* opponent will be Jose 
Maria Olazibal, who was both- 
ered by a pain in his hip as he 


defeated Brad Faxon, 6 and 4, 
in the day’s only runaway 
match. 

Els took the lead against Bal- 
lesteros when he holed a 145- 
yard shot for eagle at the third, 
sank a 50-foot putt for another 
eagle at the 22d, and carded 10 
birdies. 

Els’ 8-iron approach at the 
par-4, 452-yard third, one of the 
most difficult holes on the 
course, found the pin at the 
front of the three-tiered green 
and fell in. Els nearly repeated 
the feat with the same club 
when he played the hole in the 
afternoon round, this shot de- 
flecting off the flag before roll- 
ing to a stop 12 feet away. 

Ballesteros and Els halved 
fire of their 35 holes with 2s. the 
most ever in a single match in 
the tournament’s 31 -year histo- 
ry- 

“What can I say? 1 felt that I 
played very well,” said Balles- 
teros, who received as much 
crowd support, if not more, 
than Faldo. 


01az£bal never trailed 
against Faxon. Despite playing 
with pain, the U.S. Masters 
champion and No. 2 seed 
chipped in from nine yards for a 
birdie to win the par-4 ninth 
and from 10 yards, again for a 
birdie, to halve the par-4 15th. 

“It doesn’t allow me to swing 
the club properly,” OlazShal 
said of his hip. "It is very sore 
when 1 try to turn my’ body 
through the shot. It started to 
hurt the last couple of weeks, 
but it wasn’t caused by any- 
thing that 1 was aware of.” 

Faldo had a chip-in of his 
own, for an eagle, at the 12th. 
but Montgomerie finished his 
morning round of 65 birdie- 
birdie-eagle, the lust on a 20- 
foot puu at the ISth, and held 
on with a round of 70 in the 
afternoon. 

“1 shot 10-under for 36 holes, 
which can’t be too bad,” said 
Faldo. “You would take that at 
the stan of a 72-hole tourna- 
ment, but I lost and that’s what 
match play is all about.” 


£*'£$5 Drops AC Milan 

1 « Last in Cup Group 

” >n W-i 

vl : ,i lf! »^ uTtL 1 


m„» " i ” toil' I The Anaaatcd Pres* its nex t two home games, 

} .*; cn ," M 1 ^ ' m a ui* GENEVA — Defending Eu- against AEK Athens on Nov. 2 
' Uicv’k ... m S R iti&ropeaa champion AC Milan and Ajax Amsterdam on Nov. 
Mil ■ c,,a,r,,cl 4 was dropped to the bottom of 23, must now be played at least 

n l ' u ‘ ’■* ' not xiRvjits Champions Cup group’s 300 kilometers (187 miles) away 
- . i,. a " ,JV " ne iW standings Friday when UEFA from Milan. 
l ' A * -tin tliji” imDOsed a two-Damt Dcnaltv _ 


. . , 7 } "« nuig standings rnday wnen utrA 

iA ’ :ut -Htt tlui" imposed a two-point penalty 
i ..Ml ^because of a bottfo-throwingin- 

I'nMRUMii,'" v,., h J^ddenl at the fim-round match 

E.i 'us t.„ imr , Jk fcl, 8™S. Cad “ 0 saw>“s- 
.« :hror-*-.r .._ reuau N UEFA’s disciplinary com- 
M'l t ^“"^^mittee also ordered Milan to 
' T adIi: M ^play its next two home games in 
’/ - V ’i ,*' ia P K P^the competition away from San 

•/ ; * WnacSiro stadium. 

^ Il, K^ Salzburg, winch protested af- 
,■> ■*“ M!IL Otto Konrad 

ii- .* .M mi i hra\twas hit on the head by a bottle 

1 jv: • Mju-nscw ^thrown from the stands, won’t 
*,:• i s.p ifHo, ,-gain, however. UEFA said the 
S iV.ll resul1 . 2S w ould s tand. 

[uf.W* **Thfi discxphnaiy oonmnssem 
. . hl.'ii iib not cemsider that the inci- 
.y'er: «h.. question ^^ed the 

Hr lT »-.m iraim wrrli?* 0 ® ^ ^ UEFA _ said - 

... .f... ••jrMinic «».■ Ajax- of- Amsterdam ^ now 
\ l',m! fci. “rads the Group D standings 
with four points and has a 
hr^iffthree-point advantage over 
v.ml both AEK Athens and Salz- 




Hingis Ousted From 2d Pro Tourney 

FILDERST.ADT, Germany (AP) — Martina Hingis, the 14- 
y ear-old tennis prodigy, showed her inexperience Friday at the 
Porsche Grand Prix as she was ousted in the quarterfinals by 
Marianne Werdel in three sets. 

Hingis, playing just her second professional tournament, 
squandered four match points before the American qualifier 
pulled out a 0-6, 6-2, 7-6 (7-5) victory. 

Playing the first three-set mairrh and tie breaker of her young 
pro career, Hingis tried to play it safe at crucial moments, 
allowing Werdel to place her on the defensive 


Hill Wins Round 1 From Schumctcher 


• The 10 cities that will host 6 w 

the 1998 World Corn comped- 

don were named Friday by Holyfield Says Doctor Found Him Fit 

France s sports . minister, on * J 

condition they all have stadi- ATLANTA (AP) — Farmer heavyweight champion Evander 
nms and other facilities ready Holyfield says he has been diagnosed with sarcoidosis, a disease 
on time. that can attack the lungs and heart, but said an Atlanta doctor has 

declared him fit to resume his boxing career. 

The rides are Bordeaux, Lens, Holyfield said he intends to fight once in Atlanta this year 
Lyon, MarsdDe, Montpellier, before taking another shot at the title. 

Nantes, Paris, Saint-Denis, He said he underwent tests this week under the supervision of 
Saint-Elienne and Toulouse, his internist. Dr. Christopher Vaughns. But Holyfield would not 
Youth and Sports Minister Mi- answer specific questions about his medical condition — includ- 
chde ADio-Marie said. ing questions about the heart problem that forced his retirement 

In Paris, the competition will 
be held at the Parc des Princes 

stadium, while the northern Fnr flip Ropnrr) 
suburb of Saint-Denis is build- rUr Uienewra 

ing the Grand Stade.ta.host the _ Tonmiy Lindbokn quit as coach of Finland’s soccer team after 
final match of the quadrennial its 4-0 defeat in Greece in the European championship qualifying, 
competition. (AP) 


Prance’s sports minister, on 
condition they all have stadi- 
ums and other facilities ready 
on time. 

The cities are Bordeaux, Lens, 
Lyon, Marseille, Montpellier, 
Nantes, Paris, Saint-Denis, 
Saint-Elienne and Toulouse, 
Youth and Sports Minister Mi- 
chele ADio-Marie said. 


The Associated Press 

JEREZ, Spain — Damon Hill upstaged 
Michael Schumacher's return to Formula 
One racing Friday by winning the provi- 
sional pole position lor Sunday’s Europe- 
an Grand nix. 

Hill, in his Williams-Renault, posted the 
fastest time in qualifications, at 1 minute, 
24.137 seconds, pushing Sch umache r to 
third behind another German driver, 
Heinz-Harald Frentzen. 

_ “The real point is that today we estab- 
lished onr superiority over Michael and 
Benetton,” Hill said. 

But Schumacher, returning from a two- 
ran ban during which Hill won both races 
to cut the German's lead in the drivers* 
standings to one point, said, “Hill’s won 
the first battle, that's all.” 

Hill averaged 189.46 kilometers an hour 
(117.75 mpb) on his fastest lap over the 
4.43- kilometer Jerez circuit that last hosted 


a Formula One race in 1990. Earlier this 
year it was chosen to replace the Argentine 
Grand Prix after the South American orga- 
nizers had financial trouble. 

Frentzen took second in a Saubcr-Mer- 
cedes as his early 1:24.184 held off every- 
one except Hill. 

Schumacher tried to better the lime by 
coming onto the track last and running late 
but could only do 1 :24.207 in his Benet- 
ton-Ford. 

He said be was confident he would do 
better in Saturday’s second qualifying ses- 
sion to determine the starting grid for 
Sunday’s race of 70 laps. 

“I thought we had a fair chance to be on 
the pole,” Schumacher said. “For tomorrow 
I am confident because my morning times 
were the fastest of the day and on old tires.” 

Schumacher had gone 1:23.850 in the 
morning. His waiting game in the after- 
noon was spoiled when Utko Kaiayarna's 


TT 1 


Lens, MarsdDe and Nantes 
will be able to participate 


. — — re 

, . , - • -i~ ,! lt f hi, dm AC Milan, owned by Prime 
i Sflvio Beriuscom, lost 


^burg. Milan has no prints even . “upon co nfir mation by all the 
E though it has won one game. cities and local collectives con- 

s' AC Milan, owned by Prime cerned of the financing plans 


For the Record 

Tonmiy Lindholm quit as coach of Finland’s soccer team after 
its4-0 defeat in Greece in the European championship qualifying. 

The United States and Mexico accepted invitations play in the 
1995 America Cup, South America’s soccer championship. (AP) 




mt , ■ u i .. i -wur .«to Ajax Amsterdam m the 

■* ‘iSf^penig gan* ofj fe fora-trara 

Mu It ' J. . ’ * group round-robin. 


for the renovation of 

ntn, conforming to projects al- bondsman, describing the beating he took from Carmen Basilio in 
ready accepted,” ADiot-Marie 1958: “1 was on my stool between rounds when the bell rang. I 
said. said to my manager That’s the belL Go see who it is.’ ” 


Quotable 


• Art Aragon, the old Los Angeles fighter who is a bail 


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> -if k 


OUT OF T HEIR ELEMENT by Raymond Hamel 


ACROSS 48 Secures 

1 language from 49 weenie 

which 'bog' is so Activities 
denv ®f 1 51 1983 Michael 

7 Peer Gym's Jackson hit 

Arebknove . , ,, 

i* 52 "Atnenca SN 

13 Wanted- info 

IP Part of the iris 53 Fever 
2>?9Fisb that spawns 54 Pearl Harbor 
w high tide tributes 

21 Galileo’s muse 55 Arrest 

22 “Noises Off" and _ c 

others 58 Judicial wnt 


W MI* ’ 

4 wJai. kV. - - 
4* hAv, 






48 Secures 84 “A Girl Named 

49 weenie * (1962 Hm). 

50 Activities 85 Fakery 

51 1983 Michael 86 Kind of tank 

Jackson hit 87 Agreement 

52 'America’s Most gg Head material. 


Wanted" info perhaps 

53 Fever 89 YonnFr. 

r Prarf Harbor 90 On the mother’s 

tributes side of the 

; Arrest family 

l Judicial writ 92 

i Adds spice to . <» Seed covering 

Ro^^wpwith 97 aumsyone 

sounding name 105 Freshwater 

, minnow 



■■L '-I? 




l T- -jtXL' 

V , 


23 Phantom 

24 Shred 

25 Unexpected 
hitch 

28 Commercial - 

1 29 Utrle terror of 
1 children's 
literature 

; 30 “Little Rascals' 

I creator Hal 

32 Car ad ah br. 

^ 35 Cubemeister 
Rubik - 
36 Fold 
1 39 German 

metaphysicist 
43 Brooklyn Bridge 
engineer 
. 46 intended 
! 47 ’ABy rtetns 


55 Arrest 
58 Judicial writ 
60 Adds spice to 
62 Rock group with 


S 107 Crescent-shaped 

68 Spiff up window 

70 108 Levi Strauss 

Mansions" 

M^awnbam 109TenOfJan 

72 Crossword bird J, ° Typeof afferent 
nerve 

76 In f unborn) improvement 

78 Three times group) 

80 Robin Hood, eg. 112 St. George, for 


81 Toast to one’s 
health 

82 “Man of ’ 

83 Track athlete 



MEOAAIRIJNES 

rilB-lL LOM TBI W*» W£ fll* I 

DESTINATIONS 

GOMPErrnoN 


113 Casino 

employee 

114 Not uniform 


DOWN 

1 Kind of sail 

2 Asian sea 

3 Sptoe-tingtti 





• 

U i 



| Compiled bp Otr Staff From Dtspacha 

HIROSHIMA Japan — A 
I rift between Ma Junren. the 
coach of the record-setting 
women’s track team, and other 
Chinese sports authorities 
spilled into the open Friday 
when the country’s top sports 
official said Ma should stop 
“shouting” and overtraining his 
runners. 

Wei Jizhong, secretary gener- 
al of the Chinese National 
Olympic Committee, said that 
authorities were also worried 
about Ma’s obsession with 
making money. 

“Last year, we found that 
Ma’s athletes were being 
trained too hard to break world 
records,” Wei said. “I told 


t>Neu> York Tarmss/Edhed by WiU Shorts. ESCORTS & GUIDES 


sports officials to pay attention 
to this ... to stop this.” 

Ma said earlier this week that 
11 members of his self-styled 
“Ma’s Family Army” had had 
appendectomies, all on the same 
day, after developing “toxicolog- 
ical problems.” This, he said, 
was why they had not competed 
internationally this year. 

Friday, Ma said the operations 
had not all taken place the same 
day, and that the athletes were 
back training within a month. 

He also told the Kyodo News 
Service that he and several of his 
athletes had gotten food prison- 
ing from eating bad meat last 
year, and that this and the appen- 
dectomies were partially respon- 
sible for the slower times his run- 
ners are producing in Hiroshima. 


“Ma talks too much,” Wei 
said. “We advised Ma to con- 
centrate on doing something, 
not go around shouting about 
what he does.” 

There have been rumors of a 
split between Ma and Chinese 
sports authorities, but Wei’s 
criticisms were tbe first made in 
public. 

Wei also said that Ma. who 
has been selling the “secret elix- 
ir” of turtle blood and Chinese 
herbs he says his athletes use, 
was “too interested in money." 

“This is a negative conse- 
quence,” Wei said. “In every- 
thing. there is a negative and a 
positive side." 

“But we will try to convince 
him," Wei said. 

(Reuters, AP) 


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d refiiTO 

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drop 

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20 Turning rtgnt 
28 Brass 
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32 Fit for fanning 


33 Irish moonshine 

34 Sears specialty 

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38 Aromatic seed 

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INTERNATIONAL CLASSIFIED 


(Continued From Page 7) 


Tyrrell- Yamaha blew an engine and 
spilled oil on the track. The session had to 
be stopped to clean up the debris. 

“When I went out the circuit was slip- 
pery from tbe oil,” Schumacher said. “Plus 
stones had been flicked out on the track." 

Hill’s teammate this race. Nigel Man- 
sell, took sixth behind Brazilian Rubens 
Barrichello and Britain’s Eddie Irvine. 
Barrichello did 1:24.700 in his Jordan- 
Hart ahead of Irvine’s 1 :24.794, also in a 
Jordan-Hart. Mansell’s best was 1:24.971. 

Mansell is returning to Formula One 
after two years on the Indy-car circuit in 
the United States. Mansell ran in a race in 
Monterey, California, last Sunday and 
rushed to Europe to practice in Estoril. 
Portugal, before coining to Spain on 
Thursday. 

“Getting used to the car is awkward," 
Mansell said. "Everything is changing all 
the time — the car. the circuit-” 


China Wins 
7 More Golds 
In Athletics 


The Associated Press 

HIROSHIMA. Japan — 
China widened its already huge 
lead in the Asian Games athlet- 
ic competition Friday with an- 
other seven gold medals and six 
record-breaking performances. 

Only Kazakhstan and Uz- 
bekistan, former Soviet repub- 
lics making their Asiad debut, 
could break the Chinese gold 
monopoly, with victories in 
three field events. 

But the secretary general of 
the Chinese Olympic Commit- 
tee announced that his coun- 
try’s top female discus thrower, 
Qu Qiaping, had been taken off 
the team because she had failed 
a drug test for anabolic steroids. 

Qu tested positive at a ran- 
dom test in China less than two 
weeks ago, Wei Jizhong, Chi- 
na’s top sports official, said. 

The unofficial title of Asia’s 
speediest woman went to Chi- 
na's Liu Xiaomei, who set a 
games mark of 1 1.27 seconds in 
the 100 meters. The old record 
of 11. SO was also broken by 
silver medalist Wang Huei-chen 
of Taiwan and bronze medalist 
Huang Xiaoyan of China. 

China’s Ma Yuqin, ranked 
No. 1 in the world, poured it on 
in the 400 meters, erasing the 
games record of 52.13 seconds 
with a 51.17 clocking. 

Japan won the baseball gold 
medal by beating South Korea, 
6-5, despite a last-inning two- 
run homer by Lee Young woo. 


ARBTOCA7SESCOSTS9MCE 

Tat 071-402 5544 


kmnu&i Kbrenu 'Reuters 

Han Qing, who won tbe 400-meter hurdles, gave Taiwan’s third-place Hsu Pa-chin a 
friendly squeeze. Leng Xneyan finished second, having had her record broken by Han. 

Top Chinese Official Criticizes Coach Ma 


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Page 24 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 15-16, 1994 



DAVE BARRY 


Nonlunch With Hillary 


Is English Really a Family of Languages? 


M iami — - if rm going to 
luncheon with Hillary 
Gallon, I feel a deep moral 
obligation to provide an irre- 
sponsible, highly distorted ac- 
count of it 

I am not one to drop names, 
but I was recently invited to a 
private luncheon with Hfllary 
Rodham Clinton, First Lady of 
the Whole Entire United States. 

This is true. 1 got the invita- 
tion from Mis. Clinton’s office, 
and I said that heck yes, I would 
go. I will frankly admit that I 
was excited. Mrs. Clinton 
would be the most important 
federal human with whom I 
have ever privately luncheoned 
I did once attend a dinner 
with Richard (Dick) Cheney 
when he was the secretary of 
defense under President George 
(Herbert Walker) Bush, but that 
was not a one-on-one situation. 
That was at the Cartoonists’ 
Dinner, an annual event wherein 
political cartoonists get a chance 
to come out from behind their 
drawing boards and, in an infor- 
mal setting with high-level feder- 
al officials, make fools of them- 
selves. Cartoonists, as a group, 
exhibit a level of social sophisti- 
cation generally associated with 
pie fights. 

As a maturity- imp aired indi- 
vidual, I have had the honor of 
being invited to the Cartoon- 
ists’ Dinner on several occa- 
sions, which, as I mentioned, is 
how I came to meet Dick Che- 
ney. I actually met him about 
six times. You know those situ- 
ations where you have con- 
sumed a few unnecessary beers 
and ihink you’re bring the fun- 
niest thmg on two feet, whereas 
in fact you’re just being stupid? 
P 

But humiliating yourself in 
front of the secretary of defense, 
as impressive as h is, is not on a 
par with bring invited to a pri- 
vate luncheon with the first lady. 
1 was especially eager to share 
my views on health care, assum- 
ing I could think some up. Also I 
wanted to find out what it was 


like to be a first lady. Once, at a 
dinner, I sat next to a very funny 
first lady of a large state that 
shall remain nameless. She told 
me that she and some other gov- 
ernors’ wives had once come up 
with the idea of getting life-size 
stmting photographs ,of them- 
selves and fnounting them on 
pieces of cariboari to be used as 
portable first ladies. 

“That’s all they really need to 
represent us,’* the governor’s 
wife told me, “because ail we 
ever do is stand there and smile, 
and they introduce the gover- 
nor, and then they say, 'And 
here is his lovely wife,’ even if 
she is actually a dog.” 

I was fired up about my im- 
pending luncheon with Mis. 


Clinton. Everything seemed set 
— until Mrs. Clinton's staff 
person, Ti«* Caputo, informed 
me that the luncheon was going 
to be “off the record.” I asked 
what that meant 

“Mrs. Clinton would like to 
meet you,” Caputo said. “This 
is a chance for you to get to- 
gether and have a good time. 
But you can’t write about it” 

My crest fdl when. I heard 
those words, because I knew I 
could not accept this restric- 
tion. I am a professional jour- 
nalist and if Fm going to have 
luncheon with one of the most 
powerful U. S. political figures, 
then I feel a deep moral obliga- 
tion to provide you, my readers, 
with an irresponsible and high- 
ly distorted account of it 

I explained tins to Caputo, 
but it was no use; either the 
luncheon had to be off the re- 
cord, or there would be no lun- 
cheon. So there was no lun- 
cheon. So in dosing, I want to 
say: Mrs. Clinton, if you’re 
reading tins, I hope we can sit 
down and have fun on the re- 
cord, and if it would make you 
fed more comfortable, you're 
certainly welcome to also invite 
you-know-who. (Dick Cheney.) 

Knight-Ridder Newspapers 


By Barbara Rosen 

B RUSSELS — If a college student from 
Papua New Guinea and a Jamaican high 
school teacher try to converse and can't under- 
stand one another, can they both be speaking 
English? 

Tom McArthur thinks so and says it’s time to 
see English as a family of languages. McArthur 
is editor of “The Oxford Companion to the 
En g lish Language” and is now writing “The 
English Languages” for Cambridge University 
Press. He is also editor of the review English 
Today. 

“The way in which scholars now look at 
English has radically changed,” he says. “It is 
very unlikely that people will ever go back to 
thinking of English as one entity.” 

Other experts disagree. 

“It is a gross exaggeration,” says Randolph 
Quirk, author of “The Comprehensive Gram- 
mar of the English Language.” 

McArthur draws his family of Englishes in 
concentric circles. At the center stands World 
Standard English, the language used interna- 
tionally in the media, education, science and 
technology and which, he says, “is highly com- 
prehensible to educated people in the main- 
stream English-speaking countries.” 

Next come geographic branches, the Eng- 
lishes used in education and the media in, for 
example, the United States, Australia, the Ca- 
ribbean, East Aria and Southern Africa. Some 
of these are standardized, with their own dictio- 
naries and style guides; others, such as those 
used in India and Singapore, are in the process 
of becoming standardized. 

The outermost ring includes everything from 
Burmese En glish to Jamaican National Lan- 
guage to (American) Black English Vernacular 
to Tok Pisin, which is spoken in Papua New 
Guinea. 

Along that periphery, “you’ve really got 
what anybody in the world would call different 
languages,” McArthur says, explaining that, 
for example, some of the tongues are unintelli- 
gible to other Eng lish speakers. 

He rites a phrase from Tok Pisin (Pidgin to 
its speakers), “ Tupela kilim pik na mipela 
karim ,** and translates it as “Two fellows kill 
hfm pig and me-frilow cany him.” 

“Most speakers of other forms of Eng lish 
would get nowhere with Tok Pisin,” he says. 
Yet “Tok Pisin uses only English words, 
[though] the grammar is a mixture of English 
and a number of Papua New Guinean lan- 
guages.” He adds, “It’s an English language, 
part of the English mass, tradition,' heritage, 
family.” 





VVI 





The sodolinguist Peter Patrick, a Creole sj»- 
tialist at Georgetown University, highlights the 
importance of the non- Englis h influences. In 
the Jamaican language for example, P 3 ®?* 
Creole medalists “would stress at least equally 
the African heritage,” he says. 

He added that Jamaican Creole, tike Tok 
Pisin, evolved when several mutually unintelli- 
gible languages were thrown together in the 








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The same goes for traditional Scots, Jamai- 
can Creole and Black Eng lish Vernacular, in 
particular the Gullah spoken in the Sea Islands 
of the Cardlinas and Georgia, McArthur says. 
He recognizes, however, that at least some of 
his examples can equally be traced along their 
non-English roots. And he notes that naming a 
lan guage is a political and social question as 
much as a linguistic one. He says a lot of people 
would not want to give Black English Vernacu- 
lar or traditional Scots “the glory of being a 
separate language." 

Even McArthur’s detractors agree that some 
of his examples are Indeed distinct languages, 
but they reject the idea of calling them Eng- 
lishes. 


“In common sense terms, there is only one 
English language,” says Quirk, adding that Tok 
Pisin “could indeed become a separate lan- 
guage, but it wouldn't be English It’s not 
English now. I suppose it would be a dialect of 
English, you could say. It is broken English.” 

“People have been so silly about these 
things,” Quirk continues. “Every language on 
Earth has recognizable dialects.” He says the 
difference may be only that “a language is a 
dialect with an army and a flag and a defense 
policy and an airline,” but calling a dialect a 
Language doesn’t make it so. “Nobody in Mexi- 
co would say Tm speaking Mexican.’ [And] 
very, very few Americans would describe them- 
selves as speaking American.” 


gradual drift,” he said. And the English input 
papTf from sailors, indentured workers and 

S ' cation overseers, hardly speakers of stan- 
Engtish. 

“I don’t think they belong in any family tree, 
but definit ely not in an English family tree,” he 
says. 

Mashed Gfiriadt, professor of English at the. 
University of Cologne, concurs. “You must not 
put your pidgins and creoles within this cirde 
at alL They are separate languages,” he says. 
“They are not English." 

McArthur says some may be reluctant to see 
English as a family because “the impression of 
chaos would be too strong for than.” 

“The reality of English is chaotic," he says. 
Even as forces Eke CNN and the BBC continue 
to spread English usage around the world and 
perpetuate a reasonably consistent form of the , 
language English 's many multicultural spinWj 
offs are pulling from the periphery. “The global 
village — we’re in it and it is chaotic," McAr- 
thur says. 

McArthur believes that seeing English as a 
family could foster tolerance among peoples, as 
“ English ” speakers accept that people they 
don't understand may also be speaking “Eng- 
lish.” 

But outside the walls of linguistic acade m ia , 
does it really matter what any language is 
called? ’ 

Very much, answers Patrick, who says that 
linguists might want to say, on the basis of 
history and structure, how different Ja maican . 
Creole is from Englishes. But “speaking ’Eng- 
lish’ is worth a lot of money and a lot of 
prestige,” he says. 

A few years ago, Patrick, asked a Jamaican 
woman in Kingston if she preferred to speak 
English over Patwa, as Jamaican Creole is 
called by those who speak it. 

The woman answered: “Yes. Mijos laikdi 
inglish. Fa, yu si wen mi ina di konchri, an mijos 
a took di patwa den . . . yu fill so imbaris.” 

Barbara Rosen is a free-lance journalist living 
in Brussels. 







Tomorrow 


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WEATHER 


Forecast for Sunday through Tuesday, as provided by Accu-Weather. 


PEOPLE 


®mi} 


North America 

Pittsburgh to Boston w* bs 
dry and pleasant Sun day 
Into Tuesday. Warm weather 
wffl extend northward from 
NasfwBla through Indianapo- 
lis. Ths remnants of Hurri- 
cana Rosa will bring scat- 
tered heavy downpours to 
tha central Plains this week- 
end. The Rockies wW turn 
colder wkh snow. 

Middle East 


Europe 

London through Paris will 
have cool waalhar Sunday 
into Tuesday wtoi scattered 
clouds. Oslo thraurt Copen- 
hagen and Miaiidi wfll turn 
brisk and colder over the 
weekend. Monday will be 
chilly, than milder air will 
arrive Tuesday afternoon. 
Sunny, warm weather wilt 
conttoue h Atoms. 


F h 


Asia 

Chilly air wlH move south- 
ward across much of China 
this weekend A second 
chfly air mass trom Sberia 
wS arrive the mlddto of next 
week. Somewhat cooler 
weather will reach Hong 
Kong early next week. Hanoi 
through Manila will have 
warm waalhar the next sev- 
eral days. 


Bwigta* 

OTono 


MpWS 

Capetown 


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B UCKINGHAM Palace has 
denied news reports that a 
biographer, expected to drop 
another royal bombshell with a 
book about Prince Charles, had 
access to the prince’s letters to 
CjniJla Parker Bowies. The 
book, “The Prince of Wales: A 
Biography.” by Jonathan Dimb- 
leby, is to be published in No- 
vember, and extracts are being 
serialized starting this weekend 
in The Sunday Times. 

□ 

When Yoke Ono deans out 
her closets, here’s what comes 
out: the black electric Ricken- 
backer 325 guitar played by 
John Lennon in the mid-1960s; y- f 
his annotated lyrics for “Lucy „ 

in the Sky With Diamonds”; NeirYt 
five of his report cards from the 
Quarry Bank School in Liverpool and the 
lime-green uniform he wore for the “Sgt 
Pepper's Londy Hearts Club Band" al- 
bum cover. Those are among the posses- 
sions Ono will lend to the Rock and Roll 
Hall of Fame and Museum in Cleveland, 
which is scheduled to open next Septem- 



* 


Yofco Ono and Jan Wenner of Rolling Stone magazin e at 
New York presentation ceremony of Lennon memorabilia. 


ber. “I believe this is the most appropriate 
place for John's things.” Ono said “These 
things have been in my closet, so to speak.” 


The British legofPmk Floyd’s world tour 
finally kicked off in London — 24 hours 


after the first scheduled shqw 
was stopped because seadbg 
collapsed, untiring 96 people — 
and this time everyone re- 
mained in their seats to ap- 
plaud A tier of temporary seat- 
ing collapsed on opening night 
when fans stood to cheer. 

□ 

Pierre Rosenberg, chief cura- 
tor of paintings at the Louvre 
since 1987, has been named 
president and director of the 
Louvre, succeeding Michel La- 
dotte, who is retiring. 

□ 

Ffyona Campbell has be- 
. ***““ come the first woman to walk 
azine at around the world — 11 years 
jrabilia. after totting out. “I just want- 
ed to see how far I could go,” 
she said Friday as she walked into John 
o’Groat’s, Scotland, at the northernmost 
tip of the British mainland She left there, 
intending to walk only to Land’s End on 
the southern tip of Britain. But she kept 
going and it turned into a slog across five 
continents. 



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