Skip to main content

Full text of "International Herald Tribune , 1994, France, English"

See other formats


; . on ^ 

*&•* V, '*“& ft. y 

j ■* 

**V . , “ ' r . .• ' 

M, • ■ r.: : ^V 

* *rn. :• ^li. 

^ :-v.. 

>*•■ 

• -.- -,: Is. r ' 


^ * 


V. i j_. 


INTERNATIONAL 



tribune 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


Paris, Saturday-Sunday, October 22-23, 1994 


No. 34,726 


V:..; 

h.*i> 

!•'( r..; 

Ik i . 

.... .. 

IK 

■; 

fi« f . . 

llii • <t , 

(lir 


Bentsen’s Dollar Talk : 6 Very Expensive Words 


: i- f iW 
• ^ 


By Alan Frie dman 
Iatemmonaf Herald Tribune 

PARIS — Even a highly experienced 
Treasury secretary of the United States 
might be entitled to an occasional gaffe. 
But this one cost at least a billion dollars. 
And a gaffe is what Uoyd Bentsen 


Re-Read My Ups 

Getrtsefe& tmrfcs psr'd0&rj \ 


.1.604'"] 


‘■'at-.,-:* » woai uoya Bentsen 

■: made on Thursday when his remarks t-500- . 


We have *'■ 
no plans 
to intervene 
-Uoyd Bentsen 


y There are times S 
when intervention > 
is appropriate j 

— Lawrence Summers 


; cr: j • about intervention in foreign-exchange 
^ markets sent the dollar into a tailsprn 
• %< . against other major currencies. By most 
.. , • c.y estimates the whole business cost the 
„ ‘-••vJ’ Bank of Japan, which spent heavily on 
' -.i... Friday to fight the olunae. a cool SI 


J.tjWfe; 

' 3 .488'.''. 


of congressional candidates. Collared by 
reporters as he was leaving a breakfast 


h! ■-» Friday to fight the plunge, a cool $1 1 .488 

: r . billion. * \ ■• «— 

.V v ^c Late Friday, after the dollar had 2400-: 0600 iaBG. ,_.*t 

y*" • * dropped to a postwar low against the v. Oct 20 . > 5/. • 

, •• . ..i'. ‘ vC. Japanese yen before recovering (Page 9), * * 

' 4 ' H !*. v* - i( /' Mr. Bentsen made dear in an interview 

; ‘-.with the International Herald Tribune of congressional candidates. Collared by 

;- k ’ 1 -.ii that he had certainly not intended to reporters as he was leaving a breakfast 

' vfc • Tnui signal any shift in the Clinton adminis tra- meeting and asked about the dollar's per- 

imt- t- . “ “ 11 ij- tion’s dollar policy. sistent weakness, the Treasury secretary 

. . It appears instead that Mr. Bentsen did said that “market forces” would decide 

• . 1 *■■*'* w !> not fuffy explain himself as he was rush- the level of the dollar. He added that the 

“ v, 'ii 2 ifi ing from a meeting on Thursday. Though United States was not using its currracy 

1 he declined to acknowledge tha t be had as a trade weapon. 

rJ iovi 2 - f\.-. made a gaffe, he did say that he had tried Then Mr. Bentsen, who an aide said 

*|hv.;»v , r . v: j. j to clarify matters later on. was on a physically p unishing political 

It all b^an in Seattle, where Mr. Bent- trip that saw him in three states in a single 

fc*.l :?,<■ i „ , ^trsaj. s® was campaigning Thursday on behalf day, pronounced six fatal words which 


l'h 

fJuyri* 


*‘--k Si.' 


fc|*r.:uy! i r . . ' ;;**** 

w :':‘V 


sturi** u- .. .. 

■ w i -^ n.;-L- ’ k, ^ 

Ferry Says U.S. Strength 
S/SsS In Korea Won’t Be Cut 


said that “market forces” would decide 
the level of the dollar. He added that the 
United States was not using its currency 
as a trade weapon. 

Then Mr. Bentsen, who an aide said 
was on a physically punishing political 
trip that saw him in three statesin a single 
day, pronounced six fatal words which 


V 'CS-* ■ o:.-- -p.. / 

Itt ’r.v i 

1 TVfK tV-*-. * :- r . 

w? ir.v 

il isn; L; 

■T hj»- ■ . ' ..n 

wr*< •. - 

•{ ■ •. •!*;• ; 
•n rr.L Sr.ir : 
!* d-i- * ttt'jir: 

k.-~ •*. 


4hr* NtirtU-. 

j, wfi?< -f»«T t 1 r j.':^ 
imri :’»/!• 'll ix'iKyt 

II ar-M' •- •'■i - 

Tt- 

i’.' >V‘ ; 

aWknit UlC :cr-jn • ■ ££ 

f »ne V* 

».«■■ .1 - ■ 

***** 

< *ti»npTric.- .■» V*-' 

«r«ar« ••• ti- •.«' '■«.> ^ 


North Koreans 
Urged to End 
Border Threat 

By Michael R. Gordon 

New York Tima Service 

i SEOUL — Defense Secretary Wil- 
liam J. Perry urged North Korea on 
Friday to reduce its army and move its 
troops away from its border with South 
Korea, saying that the United States 
would not withdraw any of its 37,000 
troops here unless the North cut back. 

“we axe not considering any reduc- 
tions in the level of troops in Korea,” 
Mr. Perry said. ^TheTevel of our mili- 
tary forces*^ artfle^conmed By the 
level of conventional forces in North 
Korea.” . 

Mr. Perry's remarks followed a day of 
talks with President Kim Young Sam 
and other senior South Korean officials 
over the new nuclear accord between 
Washington and Pyongyang. . 

The defense secretary’s comments 
were clearly intended to reassure ner- 
vous South Korean officials, many of 
whom beKeve Washington was too le- 
nient with the North on the tuning of 
inspections aimed at detecting past plu- 
tonium diversion. Under the accord, 
such inspections will not be conducted 
for at least five years. 

But Mr, Perry’s comments also illus- 
trate that the midear accord has not 
changed the basic military equation on 
the Korean Peninsula. 

North Korea has a 1 million-man 
army; much of it is stationed near the 
, South Korean border. Indeed, along the 
'Stearihtarized Zone Friday, North Ko- 
rean propaganda broadcasts still ech- 


Nuclear Pact 
Signed With 
Secret Section 


By Alan Riding 

New York Tunes Service 

GENEVA — After almost four 
months of difficult negotiations, the 
United States and North Korea signed 
an agreement Friday to end their dis- 
pute over Pyongyang’s nuclear pro- 
gram, but thqy decided to keep secret 
many details of bow the accord will be 
earned out. 

The chief American negotiator. Rob- 
ert L» Gallucd, said the two rides signed 
a separate “confidential minute,” which 
is more specific than the four-page 
“agreed framework” that was made 
public after its signature at the North 
Korean Mission to the United Nations 
here. 

But he insisted that the secret docu- 
ment was consistent with the main 
agreement and would be made available 
on a confidential basis to senior mem- 
bers of the U.S. Congress. “Documents 
of tins sort are not unusual in interna- 
tional agreements,” he said. 

Mr. Gallucd inmlied. but would not 
say. that North Korea requested that 
parts of the agreement not be divulged. 
“We agreed to respect the confidential- 
ity of this document” he said. 

The document is believed to address 
some of the questions raised by the 
public agreement notably when North 
Korea would ship abroad about 8,000 
fuel rods that are currently being kept in 
a cooling pond and could theoretically 
be processed into weapons-grade pluto- 


See PERRY, Page 4 


See ACCORD, Page 4 


Nrr> ! 


Kiosk 



UNCASTER WES — Burt Lan- 
caster, the rugged Academy Award- 
winning. movie actor who ffked to 
attenute between sensitive and ath- 
letic roles, is dead at 80. Page 3. 


UN Votes to Cut 
Force in Liberia 

UNITED NATIONS, New York (AP) 
— The Security Council voted unani- 
mously Friday to keep a sharply reduced 
UN observer force in Liberia, and called 
on warring militias to stop their '’vio- 
lence, abuse or intimidation” of UN 
workers. 

The council also demanded that all 
states b era or an arms embargo against 
Liberia and called on the country's nu- 
merous factions to disarm and demobi- 
lize. The council extended the force man- 
date for three months. 

“The patience of the international 
community is almost completely ex- 
hausted,” Nigeria’s delegate, Ibrahim 
Gambari,- told the councaL “The Liberi- 
an factions must be made to realize the 
futility of further intrans i gence . ” 

The Liberian delegate, William Bull, 
asked the UN not to completely with- 
draw its forces from Liberia. 


Review 


Page 6. 


glcctcd 16th-century artist, is the focus of 
an exhibit in Cremona, Italy. Page 7. 



Newsstand Prices 

Andorra .....9.00 FF Luxembourg 60 L Fr 

Antilles,.,..! 1.20 FF Morocco 12 Dh 

Comeroon-l JDO CFA Qatar ......8.00 Rials 

Esypt.-.^E. P. 5000 Reunion ....11.20 FF 

Franca, FF SoudI Arabia ..9.00 R. 
Gobon„^..WOCFA Senegal — 960 CFA 

Greece....... .300 Dr. Spain .200 PTAS 

KoW Lire Tunisia ....MOO Oto 

Ivory Cobs? .1-120 CFA Turkey ..T.L. 35,000 
J«dan^ej_;wUD U-A.6. »-AJ0 Dirh 
Lebanqn>..aSM 30 U.S. Mil. (Eur.) S1.10 


f Down 
19.85 

. 3891.30 

^ -Jf 

The Dollar 


M Down W 

1.08% jg 

a m omteuaeteM 

03 1.4927 

126 1.6315 

135 97.05 

39 5.1155 


I T 2400 -i 9600- /12B0- :■ , 1900 '• ■' 

Imenntiood Hcald Tnbnne 

prompted woridwide speculation that the 
Clinton administration was not worried 
about the dollar’s weakness: “We have no 
plans to intervene,” he said in Seattle. 

Mr. Bentsen recalled in the interview 
that by the time he arrived at his next 
stop, in Portland, Oregon, shortly after 1 1 
A.M. Thursday, the world’s currency 
markets were already in a frenzy. 

He also noted that earlier in Seattle he 
had not had the time to make his usual 
statement about how “we aren’t in the 


business of telegraphing our operations.” 

He said he clarified that point “in the 
next city” he visited on his campaign 
swing. 

The damage, however, had already 
been done. As currency traders and ana- 
lysts speculated endlessly about UJ5. poli- 
cy, the dollar fell Friday in New York to a 
low of 96.57 yen and touched 1.4882' 
Deutsche marks before settling back to 
close at 97.235 yen and 1.5003 DM. 

The speculation mounted until Law- 
rence Summers, the Treasury undersecre- 
tary for international affairs, took to the 
airwaves Friday and told CNN: “There 
are times when intervention is appropri- 
ate. If such a time arises, as it may at any 
point, we would be prepared as we have 
been in the past to intervene.” 

Mr. Summers’s comments helped a bit, 
as they were designed to. But Mr. Bentsen 
himself offered the clearest explanation 
Friday night, after Asian and European 
markets had dosed. 

“Our policy on exchange rates has not 
changed,” Mr. Bentsen said in the tele- 
phone interview, speaking from his office 
in Washington. “We are concerned about 
recent movements in the dollar. We are 

See BENTSEN, Page 3 


Major Offers to Open 
Talks With Sinn Fein 

bi Belfast , He Says Border Controls 
With Irish Republic Will Be lifted 


By Fred Barbash 

Washington Post Service 

LONDON — The peace process in 
Northern Ireland moved dramatically for- 
ward Friday as Prime Minister John Major 
announced that his government was pre- 
pared to begin exploratory talks with the 
political wing of the Insh Republican 
Army. 

He also said that the border between 
Northern Ireland and the Republic of Ire- 
land, tightly controlled for the last 25 
years, would be opened. 

Mr. Major also lifted the ban on visits to 
England by Gerry Adams and Martin 
McGuinness, the two main leaders of Sinn 
Fein, the IRA’s political arm. 

But high on the agenda of the talks, he 
said, will be getting paramilitaries on both 


■ -r TZ-XCZ' % - • - z~-~- — ... 

■'zyrzry. > • • . — -rs ~ :r- & 



* • : . i \ r i ’ 








rt ■ \ v / ■ • ■ r ipA memsi 


Wr \ 





■ | 

. a i 




DEADLY BRIDGE COLLAPSE IN SEOUL — Rescue workers surveying the carnage in the Han River after 32 
people were killed when a large section of the Songsu Bridge collapsed d urin g the morning rash hour on Friday. 

Simpson Case: A Reversal and a Rebuke 


The Associated Press 

LOS ANGELES — The now-it’s-open, now-it’s-shut O. J. 
Simpson trial was opened to the media again Friday as the judge 
reversed a day-old ban on reporters after defense attorneys said 
they had changed their minds. 

Robert L. Shapiro, an attorney for the former football star, 
said the defense team no longer believed that the presence of 
reporters would keep prospective jurors from being candid 


during questioning, 
“we were mistak 


“We were mistaken,” Mr. Shapiro said. 

After the ruling, Superior Court Judge Lance A. Ito allowed 
three reporters to listen as he and attorneys questioned prospec- 
tive jurors about whether publicity in the case had hampered 
their ability to be fair. 

Two prospective jurors who admitted they had violated the 
judge’s instructions and listened to the radio were quickly dis- 
missed. Another pool member said people in the jury room 
seemed to be familiar with a sensational new book about Nicole 
Brown Simpson, Mr. Simpson’s former wife. 


Also Friday, transcripts of a closed meeting earlier in the week 
with the judge were released and showed that Mr. Shapiro had 
threatened to quit if Mr. Simpson continued talking about the 

The author of a book od Nicole Simpson takes the stage. Page 3. 

day he failed to turn himself in and instead fled in a friend’s Ford 
Bronco. 

In the transcript, Mr. Shapiro also said that his client’s funds 
were “virtually depleted.” 

Mr. Simpson, 47, is accused of killing Mrs. Simpson and her 
friend Ronald L. Goldman. 

On Thursday, Judge Ito suggested that the defease and prose- 
cution make a motion to keep the media and the public from the 
publicity portion of questioning. He then barred reporters from a 


ly of private questioning. 
But Friday morning. Mi 


riday morning, Mr. Shapiro said he and other defense 
See TRIAL, Page 4 


the Catholic and Protestant sides to sur- 
render their stockpiles of illegal weapons 
and explosives. 

In a carefully worded speech in Belfast 
designed to give something to all sides, Mr. 
Major also reassured the Protestant major- 
ity in Northern Ireland that the shape of a 
new government in the province, the de- 
sign of an elected assembly to replace rale 
by the British bureaucracy, was a matter 
for discussion “between the British gov- 
ernment and the Northern Ireland par- 
ties.” 

His language pointedly excluded the 
Irish Republic from this formulation, his- 
torically a sensitive matter to Protestants. 

While difficult issues lie ahead, the an- 
nouncement adds significant momentum 
to the attempt by Mr. Major and Prime 
Minister Albert Reynolds of Ireland to 
resolve one of the world's longest, most 
violent and most intractable disputes. 

At its heart has been an irreconcilable 
conflict; the 70-year-old goal of Catholic 
nationalists to end British rule of Northern 
Ireland and reunite with the Republic of 
Ireland to the south, versus die equally 
fervent desire of Protestant “unionists,” 
who are the majority in the province, to 
remain British. 

Mr. Major and Mr. Reynolds, who will 
meet on the subject Monday, have already 
made more progress than most imagined 
when they jointly called in December for 
renewed efforts toward peace. 

In response to their efforts, the IRA 
declared a “cessation of hostilities” on 
Aug. 31. Since then, the bombings and 
executions that made the IRA notorious 
have stopped. Six weeks later, their foes in 
Protestant terrorist organizations, who 
had continued bombings, signed on to the 
cease-fire. 

Mr. Major said he would include the 
latter in talks as weU. once be was satisfied 
that they, like the IRA. were serious about 
ending the violence. 

“Northern Ireland is at peace,” Mr. Ma- 
jor said. “Fear has been lifted from daily 

See ULSTER, P&ge 4 


Clinton to Meet 
Assad to Press 
For Israel Pact 


Compiled by Our Staff From Dispatches 

WASHINGTON — President Bill Clin- 
ton said Friday that he would go to Da- 
mascus next week for talks with President 
Hafez Assad and would try to accelerate 
negotiations with Israel for a peace treaty. 

“It is terribly important that the United 
States stand with the champions of peace 
and the friends of peace at this time,” he 
said. “I want there to be more progress. 
And I think the visit will further it.” 

Mr. Clinton will make the trip though 
his advisers fear the visit might not pro- 
duce any public steps by Mr. Assad that 
would further the peace effort. 

The administration says it also recog- 
nizes that Mr. Clinton could open himself 
to charges that he is visiting a country that 
is on the administration’s list of nations 
that sponsor terrorism. 

“What I hope is to continue to further 
the peace process,” Mr. Clinton said of a 
trip that is shaping up as the most exten- 
sive by a president to the region in 20 
years. 

Mr. Clinton, speaking at a news confer- 
ence at the White House, also mad e these 
points: 

• He said he would keep pressure on 
Iraq to comply with UN resolutions. “My 
position is that we should keep the pres- 
sure on that regime as long as it is out of 
compliance” with the resolutions, he said. 

• He said that the United States would 
not act on its own to arm the Bosnians if a 
UN resolution to lift the arms embargo 
fails, nor replace European peacekeepers if 
they leave the country. The American peo- 
ple do not want U A troops there, he said. 

Secretary of State Warren M. Ghristo- 

S her said earlier in the day that ibe United 
rates would propose an automatic lifting 
of the arms embargo against Bosnia u 
there was no settlement of the war within 
six months. 

Mr. Clinton said that his mam purpose 
in going to the Middle East was “to stand 
with our friends.” 

Mr. Ctinton is also going to Israel, 
Egypt, Jordan and Kuwait. 

Mr. Clinton said he considered the list- 
ing of Syria by the State Department as a 
country that supports terrorism an impor- 
tant matter. But he said that it woula not 
stand in the way of trying to promote a 
settlement. 

Negotiations between Israel and Syria 
opened nearly three years ago. Mr. Chris- 
topher has made five trips to the region 
since May without producing an agree- 
ment. 

But Mr. Ctinton insisted that there “has 
been progress in the negotiations between 
Israel and Syria.” 

And, he said, by meeting with Mr, Assad 
“and talking with him and working with 
him we wiu continue to mate some ad- 
vances.” 

Referring to the attacks on Israel, he 
See CLINTON, Page 4 










Page 2 



In ’96, Europeans May Even Agree on What Time It Is 


By Barry James 

International Herald Tribune 

Gockwise, ihc British will do it 
Sunday morning and the Americans 
□act weekend, while the Europeans 
did it three weeks ago. 

As official summer time comes to 
an end at different times throughout 
the month, there seems little hope of 
synchronizing the world's watches 
this side of the millennium. 

That much of the industrialized 
world is out of step for several weeks 
is a major inconvenience for money- 
markets, the transportation industry 
and many other sectors. 

“The first priority in my opinion is 
to agree on the same start and end 
times in the European Community,” 
said Bernard Yallop, superintendent 
of Her Majesty's Nautical Almanac 
Office in Britain, the country’s offi- 


:eeper. ‘ 

Alas, I doubt it.” 

Actually, there is some hope that 
the European Union will succeed in 
imposing harmonization from 1996 
onward. 

Under EU rules, the 12 member 
countries already agree that summer 
time should start on the last Saturday 
in March. 

Summer rime means one hour 
ahead of Greenwich Mean Time, or 
Universal Time, in Britain and Ire- 
land. Central European Time, used 
in Continental Europe, is one hour 
ahead of GMT. Summer time is thus 
two hours ahead of GMT (three 
hours in Greece), which rural work- 
ers hate because of the dark morn- 
ings, but which city dwellers enjoy 
because of the light evenings. 

Next year, summer time in most 


member slates will end on Sept. 24, 
while Britain and Ireland will put 
their clocks back on Oct. 21 But in 
1996 and 1997, all members of the 
Union will pul their clocks back on 
the last Sunday in October. 

They will then decide by Jan. I, 
1997, what permanent arrangement 
to adorn after then. 

Putting clocks forward and back is 
a relatively modem invention. For 
most of his history, people have got 
up with the dawn and gone to sleep 
with the sunset. An association in 
France that seeks to return to solar 
time believes people would be men- 
tally and physically more healthy 
and happy if they followed solar time 
year around. 

Jean Denis, the leader of the 
group, said that setting clocks two 
hours ahead of GMT, which means 


that the sun is directly overhead at 2 
P.M., contributes heavily to ozone 
pollution, sldo cancer and mental 
complaints. 

Conversely, the Daylight Action 
Group in the United Kingdom wants 
Britain to adopt Central European 
Time, and double s umm er time. 

Although Mr. Yallop said he was 
not totally opposed to this proposal 
“I am against some of their false 
statistics and some of the conse- 
quences of their ideas. 

“For example,” he said, “they use 
road accident statistics that are based 
on the tune when accidents occur, 
when they should be considered in 
terms of die altitude of the sun at the 
time concerned. The degree of twi- 
light not only affects bow well we can 
see but it is also correlated with the 
temperature and weather." 


The Greenwich meridien was es- 
tablished as the basis for the world's 
time at an international conference 
in Washington 1 10 years ago: Solar 
time advances four minutes by de- 
gree eastward from Greenwich. Thus 
the Irish used to set their watches to 
Dublin Mean Time, 25 minutes earli- 
er than Greenwich Mean Time, a 
state of affairs that ended paradoxi- 
cally with independence in 1916. 

Benjamin Franklin argued for 
daylight saving time in 1784 as a 
means of saving candles. In 1868, 
Charles F. Dowd, a school principle 
in Saratoga Springs, New York, pro- 
posed the use of zones in which all 
localities would keep the same time. 
In 1916, Britain adopted Frankin's 
idea as a wartime economy measure, 
and it has remained ever since. 


WORLD BRIEFS 



U.S. and Britain Warn Iraq 

32d Parallel Is Line Drawn in Sand by 2 Allies 


Mart WOw/ Rouen 


Diana, Princess of Wales, who was in Washington on Friday on a private visit 

No Kings, The Economist Decrees 


International Herald Tribune 

In a cogent criticism of the British monarchy, 
the Economist magazine said in its issue pub- 
lished Friday that "it would be best to abolish" 
the institution, or at least hold a referendum to 
find out if people really want it 

But it said that deep-rooted constitutional 
reform was far more urgently needed, and 
warned that abolition could become a distraction 
from the country’s real problems. 

After revelations by the heir to the throne. 
Prince Charles, about his marriage and his frigid 
relations with his parents, the Economist argued. 
“To allow him to succeed without a referendum 
would itself harm the institution of the monarchy 
by removing its own legitimacy." 

“The monarchy’s time has passed.” the Econo- 
mist wrote in an editorial. “The only powerful 


argument against abolition is that it is not worth 
the trouble.” 

The real problem in Britain, the magazine said, 
is the excessive power of the House of Commons 
leading to too much centralization, abuse of 
power and erosion in respect for government. 
The lack of a bill of rights coupled with excessive 
secrecy makes it difficult to limit “over-mighty 
government." it added. 

Tackling such problems, it said, would certain- 
ly raise questions about the role and place of the 
crown. 

“The monarchy is not the most pressing issue 
facing Britain," it said. “In our view it would be 
best to abolish it, but the rest of the agenda for 
constitutional change matters more. In the end. 
if the people wish, it would be appropriate to 
preserve the crown. But to protect it from review 
is indefensible." 


Donor 



Immediate 

Availability 



The Genetics & IVF Institute, 
an internationally respected center 
for infertility treatments using 
advanced reproductive technologies, 
has a large selection of over 100 
donors available now for patients 
requiring donor oocytes. No waiting 
list. Suburban Washington, D.C. 
location. We have extensive 
experience working with patients 
from throughout the world, and 
would welcome your inquiries. 


GENETICS & IVF INSTITUTE 
3020 Javier Road 
Fairfax, Virginia 22031 U.S A. 



703-698-7355 
Fax: 703-698-0418 



By Julia Preston 

Washington Past Service 

UNITED NATIONS, New 
York — The United States and 
Britain have told Iraq that they 
will use military force to stop 
any new buildup of Iraqi troops 
south of the 3 2d parallel ac- 
cording to American and Brit- 
ish diplomats. 

In separate but nearly identi- 
cal diplomatic notes, the two 
allies drew the geographic line 
to define the northern edge of a 
150-mil e-deep zone in southern 
Iraq in which they will not tol- 
erate reinforcements, wanting 
they wiD “respond appropriate- 
ly and decisively" to any new 
influx. 

American officials said the 
chief U.S. delegate to the Unit- 
ed Nations. Madeleine K. Al- 
bright, had told her Iraqi coun- 
terpart, Nizar Hamdoon, that 
the messages mean Iraq should 
expect major military action 
against any additional troops 
dispatched into the area, which 
lies just north of Kuwait 

In setting a geographic 
boundary and making explicit 
the threat of military action, the 
United Stales and Britain ap- 
peared to take the confronta- 
tion with Iraq significantly be- 
yond the UN Security Council 
resolution passed Saturday in 
response to Iraqi troop move- 
ments in southern Iraq that ap- 
peared to threaten Kuwait. 

That resolution warned Iraq 
against any strengthening of its 
military might near the border 
but drew no geographic line 
and contained only a general 
warhing of “serious conse- 
quences” if Iraqi troops were 
reinforced. 

The vague language was a 
concession by the United States 
to France and Russia, which 


Chinese Execute 
Doctor for Fraud 

BELTING (AFP) — The dep- 
uty director of a hospital in cen- 
tral Henan Province has been 
executed for writing 450 false 
sterilization certificates to help 
women circumvent China's 
family-planning regulations, 
according to a report in the offi- 
cial China Youth News. 

The doctor, Yu Jianan, and 
five of his colleagues at the 
Linxian No. 2 Hospital pre- 
tended to have carried out the 
sterilizations between 1986 and 
1991 on women who could sub- 
in 

plan. The 
false certificates netted Dr. Yu 
and the other doctors $23,000, 
of which more than half went to 
the deputy director, said the re- 
port. 

China's family-planning pol- 
icies limit couples who live in 
cities to one child, while those 


feared that the council might be 
going too far in infringing on 
President Saddam Hussein’s 
ability to deploy his armed 
forces within his own country. 

The two governments sent 
the message on Thursday to en- 
sure that Baghdad has “no mis- 
understanding” about Satur- 
day’s resolution, an American 
official said. 

“We have made it dear we 
would not wait lo use very 
strong military force,” he add- 
ed. 

The two Iraqi Republican 
Guard divisions whose rapid 
movement southward drew 
thousands of U.S. troops to the 


f We have made h 
dear we would not 
wait to use very 
strong military 
force.’ 

An American official. 


Gulf region two weeks ago are 
now north of Baghdad, senior 
Pentagon officials said. The six 
Iraqi Army divisions remaining 
south of the 32d parallel are 
“not currently in a threatening 
posture," a senior officer said at 
a Pentagon briefing, but Iraq 
remains capable of assembling 
a force that would be a poten- 
tial danger to Kuwait “absent a 
credible deterrent-” 

With "the threat ameliorated 
somewhat,” the Pentagon can- 
celed further deployments of 
US. troops to the region, said 
Lieutenant General Howell M. 
Estes 3d of the UJS. Air Force, 
operations director for the joint 
staff. 


A second brigade of the 24 th 
Mechanized Infantry Division 
from Fort Stewart, Georgia, al- 
ready heading for Kuwait, will 
go ahead. General Estes said, 
but additional Marine units, 
Air Force B-52 bomber squad- 
rons and a second Navy aircraft 
carrier battle group that had 
been alerted to head for the 
Gulf will not go. 

Pentagon officials said the 
total U.S. troop commitment in 
or around Kuwait would level 
off at abouL 36,000, including 
12,000 ground troops. Planners 
at the military’s Central Com- 
mand in Tampa are discusring 
how long the troops will have to 
stay. Pentagon officials said. 

France was conspicuously 
absent from Thursday's warn- 
ings. This was taken as a sign 
that important differences per- 
sist among the key allies from 
the 1991 Gulf War. 

In negotiations in recent 
days. American and British dip- 
lomats were not able to agree 
with France on a common mes- 
sage to Baghdad. But French 
officials said their UN delegate, 
Jean-Bemard Merimee, met 
Tuesday with Deputy Prime 
Minister Tank Aziz or Iraq in 
New York to reaffirm that 
France supports the terms of 
the Security Council resolution 
in general. 

The 32d parallel is already 
the northern border of a “no-fly 
zone" in southern Iraq, over 
which the allies have banned 
Iraqi warplanes. The zone is 
jointly patrolled, by the United 
States, Britain and France, 
which has 12 Mirage and Jaguar 
fighter jets stationed in the re- 
gion for the operation. But it 
appeared that France will not 
join in patrols targeted against 
movements of ground troops. 


Court Declares Abiola’s Arrest Illegal 

LAGOS (AP) — The Lagos High Court on Friday dedarai 
illegal the military government’s detention of Moshood K. O. 
AbioLa, who has become a symbol for democracy in Nigeria since 
he was arrested for declaring himself president. * 

Chief Abiola, a publishing magnate and business tycoon, nude 
the declaration to mark the anniversary of the June l*-. 1993, 
election dial Nigeria’s generals annulled as results coming in gave 
him an overwhelming victory. a . ___ . 

Judge Adele Jinadu said Chief Abiola s arrest on June 23 and 
his continuing detention were “unlawful unconstitutional illegal 
and constitute a violation of his fundamental rights. The ruling is 
unlikely to be heeded by the government of General Sam Abacha, 
who routinely ignores court decisions that go against his wishes. 

EU May Ask Delors to Stay On a Bit 

BRUSSELS (AP) — The European Union’s assembly may ask 
Jacques Delors, the president of the European i Commission, to 
stay on briefly beyond the scheduled end of his term m early 

January, officials said Friday. . 

The 567-seat European Parliament is considering postponing 
its vote on new members of the group’s executive agency so that 
legislators from Austria, Finland, Norway and Sweden can cast 
ballots. The four are scheduled to enter the Union on Jan. 1, 

increasing membership to 16 nations, from 12. 

The parliament's president. Klaus Haensch. has asked Jacques 
Santer, who is to succeed Mr. Delors. for a delay of fe vote. Mr. 
Delors’s term, and that of the other 16 members of the European 
Commission, ends Jan. 7. 

CIS Members Set Up Economic Body, 

MOSCOW (Reuters) — Leaders of the 12-member Common- 
wealth of Independent States on Friday approved plans for a 
supr an ational economic committee, the first CIS body that win 
have real powers to override member governments. 

President Boris N. Yeltsin told a Kremlin news conference the 
Interstate Economic Committee was approved by all 12 heads of 
state, although some had reservations about the extent to which 
they would take part. 

The new body will be based in Moscow, a decision made over 
the objections of Belarus, whose capital Minsk, was initially 
designated as the seat of CIS institutions when the organization 
was set up at the end of 1991. 


At Least 45 Killed in Kabul Shelling 

KABUL (Reuters) — Rival Afghan forces fought heavy battles 
Friday in Kabul and doctors at hospitals said that at least 45 
)]e had been killed and 150 others wounded by rockets, shells 


sequently give birth illegally, ix 
violation of the state plan. Thi 


in the countryside can generally 
have a second child if the first is 
agirL 


UNIVERSITY DEGREE 

BACHROR'S • MASTER'S* DOCTORATE! 
FwWoiKLtBanelftcadBntcBqpafenoe 

Triot^CorvankrX Home SOxt/ 

(31 0)47 1-0306 ext 23 
Esk (310)471-6456 

Fax or send detailed resume fori 



Pacific Western University! 

600 N. Setxdveda BM, Dept. 23 
Los Angeles. CA 90049 


Channel Tunnel Train 
Rolls to a Stop Again 

The Aatoctaud Press 

CALAIS, France — A high-speed train running through 
the Channel Tunnel suffered another breakdown on Friday. 

It was the third failure in just over week, and it came less 
than a month before passenger service is to begin on Nov. 14. 

The Eurostar train, heading toward Paris from London 
with several guests aboard, had just made it through the 
tunnel Friday when it broke down, a spokesman said. 

The breakdown occurred about 1 1 AJvL, and the passen- 
gers were stranded for two and a half hours. By 2 P.M., they 
were “well on their way to Paris,” a Eurostar spokesman said. 

There was no immediate explanation for the breakdown. 
None of the recent train problems have been connected with 
equipment in the tunnel itself, the spokesman said. 

“These are just technical hitches, but it’s up to Eurostar to 
explain,” he said. 

The breakdown came a day after Eurostar had to call in a 
replacement train to take a group of journalists from London 
to Paris. 

The breakdown on Thursday raised investors’ worries of 
the already delayed project, causing Eurotunnel stock to lose 
nearly 10 percent of its value. Despite Friday's breakdown, 
the stock recovered strongly Friday, rising to 17.55 francs 
($3.42) a share, up nearly 10 percent from Thursday’s close of 
16 francs. 

On Oct. 14, Eurostar hit another snag as a train from Paris 
to London died on the tracks in southeast England, snarling 
traffic on parts of the British Rail system for up to two hours. 
That train was towed into London for repairs. 

Three problems developed simultaneously on that train. 
Eurostar said. 

The company disputed suggestions that there could be a 
pattern of troubles and said there are no plans to alter the 
startup of the Eurostar service. Tickets go on sale Monday. 

“It sounds flip and easy to say it, but it is perhaps bad 
luck," the spokesman said. 


anu uuimo. 

Forces loyal to President Burhanuddin Rabbam and opposing 
units exchanged artillery and rocket fire for about four hours ana 
bombed each other's areas, witnesses said. Kabul radio reported 
that 15 people had been killed and 97 wounded by opposition 
rocket and mortar fire in residential areas alone. Bombing of 
opposition positions by government jets also caused heavy casual- 
ties, the official radio said. 

It blamed the attacks on anti-Rabbani militias controlled by 
Prime Minister Gulbuddin Hekmatyar; a northern warlord. Gen- 
eral Abdul Rashid Dustam; and the Islamic Coalition Council of 
Afghanistan, of Abdul Ali Mazari. 

Belgians Protest Education Merger 

BRUSSELS (Reuters) — Demonstrating students snarled traf-. 
fie in Brussels and cities in southern Belgium on Friday in protej 
of a plan to merge colleges of higher education. 

The students, from the French-speaking part of Belgium, 
blocked roads and rail lines after the Francophone regional 
parliament approved plans to merge 113 colleges into 26 “super 
colleges.” Some students were detained but there were no reports 
of serious incidents. 

For the Record 

' A bomb exploded at a shopping center in The Hague on Friday, 
slightly injuring seven people, but the police ruled out any 
terrorist link. The bomb, planted in a metal trash container, went 
off at 2:22 P.M., shattering several windows. There was no 
immediate claim of responsibility. (Reuters) 

An outbreak of cholera in Albania has claimed its 14th victim in 
five weeks with the death of a 73-year-old man in the town of 
Kruja, north of Tirana, health officials said Friday. ( Reuters ) 

Turbulence buffeted a Munich-bound Cyprus Airways fSgbt 
from Larnaca with 257 passengers and 9 crew members aboard 
Friday as it was passing over Rhodes, injuring two flight atten- 
dants, an airline spokesman said. The Airbus A-310 landed in 
Athens, where the attendants received treatment. Passengers flew 
on to Munich on another plane. (Reuters) 

PoGcemen killed two suspected Muslim extremists in a shoot- 
out in the southern Egypt town of Mallawi, the Interior Ministry 
said Friday. (AP) 

Yandals damaged gravestones and painted swastikas in the 
Jewish cemetery in the West German city of Nassau, the authori- 
ties said Friday, announcing a reward of 5,000 Deutsche marks 
($3,300) for their arrest In a separate incident, gravestones of 
World War n Soviet soldiers were overturned in a cemetery in the 
eastern city of Luckenwalde, the police said. (AP) 

y 


TRAVEL UPDATE 


Strike Slows Italy Domestic Flights 

ROME (Reuters) — Domestic flights in Italy were disrupted on 
Friday when 80 percent of pilots working for the internal airline 
ATI called in sick in an apparent protest against the company’s 
merger with state carrier Alitalia SpA. 

Company sources said 30 flights were canceled on Friday: 
morning because so many staff had reported ill. Other domestic 
flights were delayed by up to an hour. ; I 

The “sickness” protest, in its third day, is one of a series of 
actions by staff at ATI, which is being merged as part of a plan to 
reorganize the Alitalia group, which owns it Ali talia sources said 
it was impossible to say how badly flights would be affected. 

Lufthansa Airlines was forced at the last minute Friday to call 
off what would have been its first flight to Belgrade in three yean 
when Serbian authorities suddenly withdrew authorization, !: 
company spokesman, said. Belgrade gave no explanation for ih 
action, the airline said. ( AFP \ 

Bangkok- Istanbul flights will begin Oct. 31 on a twice- weekly 

basis, Thai Airways International said. (Reuters 

A Typhoon, designated Teresa, swirled out to the South China 
Sea late Friday after a destructive sweep that forced the evacua 
tion of nearly 30,000 people and left large areas of the main [slam 
of Luzon, including Manila, in darkness, officials said. (AFP 


To call from country to country, or to the U.S., dial the WorldPhone® number of the country you're calling from. 


Improve 

International 

Relations 


Antigua 

(Available from public card 
Argentina* 

AuctriaiCCi* 

Bahamas 

Bahrain 

BeWumiCO* 

BamtKfaK- 

Bodvia* 

Brazil 
Canada! CC! 

Cayman Islands 

CHfcKCCl 

ColotnbiaiCCi* 

Costa Rica* 

Cyprus* 

Czech BapuWisCCi 


phones only.} 8 2 
001-800-333-1111 
022-6C3-01 2 
1-BOT-624-1QW 
800-002 
0800-10012 
1-800-623-0484 
0-800-2222 
000-8012 
1-800-888-8000 
1 -800-824- 1000 
OOv-0316 
680-16-0001 
162 
080-90000 
00-42-000112 


Denmark! CO* 

Dominican Republic 
Ecuador-* 

Ejnrptico* 

(Outside of Cairo, dial 02 (int i 
Ei Salvador* 

Finland! CO* 

Franco! CQ* 

Gambia* 

Garmanytca 

(Limited availability in eastern 
Greece* <X>* 

Granada-c 

Guatemala* 

HiitilCQ+ 

Honduras* 

HungarytCO* 


8001-0022 
1-800-751-8824 
170 

356-5770 
195 
9800-102-80 
19r -00-19 
D0-1 -99 
0130-0012 

Germany.) 

00-800-1211 

1-800-624-8721 

188 

001-800-444-1234 
001-800-674-7000 
00v -800-01411 


Iceland* 

Iran* 

Intend! CO 
bmelica 
HalytCO* 

Jamaica 
Konya 

(Available From most major chles.) 08001 1 

Kuwait 800-MCH800-624) 

LobanonfCC) GOO-624 

(Outside of Beirut, dial 0T first.) 425-036* 


.9994)02 
(Special Phones Only) 
1-800^5-1001 
177-150-2727 
172-1022 
800-674-7000 


LteditBiMldnlCO* 

Luxembourg 

Mexico* 

Monaco! ca* 
Netherlands' crj* 
Netherlands Amao'CtH- 


155-0222 
0800-0112 
95-800-674-7000 
19V -00-19 
06-022-91-22 
001-80O-9SO-1QZ2 


Nicaragua! Cci 

(Outside of Managua, dial 02 first.) 
Nonuayi CCI* 

Panama 
Military Bases 
Paraguay* 

Pam (Outside of Lima, dial 190 fust.) 
Poland! an 
Portugal) CO 
Puerto RkotCCl 
Qatar! CD* 

Romania! CO* 

Russia! CCH- 
San M*rineH CO, 

Saudi Arabia 
Slovak RepubfidCd 
Smith Africa! CO 




■ ‘TitflFtffW 


JuS* • • . 

‘ Wnewlslk. : .. 


Use your MCI Card.® local telephone card or esfl collect all at die same low rates. 

ICC' Country-toe chi niry calling available. May nm be available icVfram all international locations. Certain 
restnenons apply, -r Limited availability. ▼ Walt lor second dial tone. A Available from LAD ATE L public 
phones only. Rale depends on call origin in Mexico, t International communications carrier. * Not avail- 
able from public pey phones. * Public phones mey require deposit of coin or phone cart for dial tone. 



166 
BOO-19912 
108 

2810-108 
008-11-800 
001-190 
Ov-DI-04 -800-222 
05-017-1234 
1-800-883-8000 
0800-012-77 
01-800*1800 
BvlO-800-497-7222 
172-1022 
1-800-11 
00-42-000112 
0800-99-0011 


Spomtca 900-89-0014 

Sweden! CQ* 020-795-922 

Switzerland CO, 155-0222 

Syria! CO 0800 

Trinidad & Tobago (Special Phones Only) 

Turkey* 00 -8001-1 177 

Ukraine!- grlO-013 

United Arab Emirates 000- H' 

United Kbrgdomicci 

To call Hie U-S- using BY 0800-89-0222* 

To call the U.S. using MERCURY 0500-89-02221 _ 
To can anywhere other than the U.S. 0500-800-80^ 
Uruguay (Collect not available.) QQQ>412*V 

U.S. Virgin blandvCO 1-800-8884000 

Vatican CltyiCCl 772 1022 

Venezuela** 800-11144) 


ont 


Let It Take You Around The World 

From MCI 


Imcrime oar (Marini. 73 rue de i'Evangile. 750 IS Paris. 


it 





- LI) fiRijrjS 

i~ -«**iv w '' 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 22-23, 1994 


Page 3 




*f A 


THE AMERICAS/ 


+, ■£>* r . 

.V r-A ‘A 
•_ .A JS. 




' ’I' ' V.i -V. 'V • • -f 'rtf' « IW ’ 

-•*+4t-, t , *' Tkr* 

^I^rs to S luv ,1 

^r?Ti =3.S ’ 

I-*..: t5n . .. St. •■' 

"V-Vu-'v'.'/.V'-^SSk ' 

-KUiOfcl 


POLITICAL NOTES 


l» Mw>y Seriw Than Sax? 

“WASHINGTON — The national news 


Before a roaring, sign-waving crowd in the 
Framingham Memorial Building, Mr. Clin- 
ton stumped for a group of Massachusetts 


media are still squeamish about delving into a democrats but concentrated his efforts and 
public official's sex Hfe, but they view- stories bis optimism on Mr. Kennedy, who is is the 
about financial improprieties as fair game, closest race of his career. His' challenger is a 
according a report by two noted political and' Republican businessman, Mitt Romney. 


r Ir • 

* U 1i>c- 




.■•■■’iSi ■- 


« m*., •. ..... - 

^ - 
shim-. - . l ,• .“-Stans ' ■„ 

- '■ ” • rsr «... 


according a report by two noted political and 
media analysts. 

For “When Should the Watchdogs Barit?,” 
Larry Sabato, a University of Virginia profes- 
sor, and Robert Lichter interviewed' 36 jour- 
nalists and looked, at television and print 
coverage from November 1993 through Au- 
gust of this year of the Whitewater scandal 
and President Bill Clinton's possible sexual 
indiscretions. 

What they found was that journalists gave 
the Whitewater affair more than five times as 
much coverage as the sex scandal, used lower 
standards' of proof on it and treated the 
Whitewater accusers more respectfully than 
they did either Paula Jones or the Arkansas 
state troopers, all of whom accused Mr. Clin- 
ton of sexual misconduct when be was gover- 
nor of the state. 

In a twist on the recurring criticism that 


■ ‘“-k «iem, /’ 

fw 1-. , , , -r 

^'^..•Uva ,jL n 

muv 4?. L .. r .... ,■ • 

oft IS 

* :*«: *' "•***£. 

^Uo<i ill Kabul She! 

•■■■ J.J kmS* 0 


lt t : .a! a -\\ "■ 

r iv iii.ii 

» ^n\rr: , .!ii .-. ,, 1 .i ! 
Wn3 


‘•J.d Kabul rafo j 
"*'U!i(ituhop. 
- Jione Ig 
!• ■ilvuu.xrJliQR- 


». .mi 

Ilk k -i.:- j n.*nfu:rr, a-ari^ - 

.•* t t ■ 

Kt iucation Mer^ 

%i •— ’ >-.■ :«.»:■■ nr 

» «•» * :! Iv:,-r:.-:. r.i ; nda?i ■» 

i-l •»!,-' 1 J* 

i »hf t •. - I*. A-; I-Jjrffe * 

*»1 “’•* . 

4ai»i t*. '■!. -i . ; 1 . ;:.Lv’- •• 

*» •»! .f. :.| \ . *■•;(! ‘bi-lf *SK ' 


Lichter says he believes that they select their 
shots. 

• “Journalists are afraid to get sucked into 
the muck,” says Mr. Lichter, co-director of 
the Center for Media and Public Affairs. “But 
if you avoid all sex stories, you can miss 
' important news — like abuse-of-power sto- 
ries.” 

Mr. Lichter theorizes that Whitewater be- 
came a “surrogate scandal” for the sex story. 
“Journalists had lost respect for Clinton and 
wanted to express their dismay,” he said. 
“But writing about sex scandals is not what 
they want to do. It interferes with their self- 
image as serious journalists. They’re afraid 
they won’t be credible if the/ cover sex. In- 
stead they lose th dr journalistic credibility by 
not adequately coviaing it” (WP) 

Cjjnton Plumps for Kennedy 

FRAMINGHAM, Massachusetts — Fi- 
nally, a real campaign event. 

After weeks of lackluster crowds, candi- 
dates who avoided sharing a stage with him, 
and closed fund-raisers, President Clinton 
was in this Boston suburb on Thursday for a 
campaign rally complete with balloons, bunt- 
ing and a candidate who welcomed his pres- 
ence: Senator Edward M. Kennedy. 


Republican businessman. Mitt Romney. 

There was some evidence, at least in Massa- 
chusetts, to buttress Mr. Clinton’s optimism 
and suggest that Mr. Kennedy's campaign 
had begun to pull itself up. A new poll by the 
Boston Herald showed Mr. Kennedy leading 
Mr. Romney by 10 percentage points. 50 to 40 
percent. (WP) 

Health Plan Ha Smaller Poses 

WASHINGTON — The Clinton adminis- 
tration has got the message that the public 
doesn't want it to take on the whole health- 
care system next year, and it will be 
“shrewder and more strategic'’ in recom- 
mending changes. Secretary of Health and 
Human Services Donna E. Shalala said. 

Mrs. Shalala said Mr. Clinton was still 
“committed to expanding coverage" for the 
uninsured but had made no decisions what to 
propose next year. She said a plan would most 
likely be included in the budget, which goes to 
Congress in February. 

In the 1 994 health-reform battle, “the pub- 
lic clearly told us that the idea of taking on the 
whole system, every aspect of iL” was unac- 
ceptable, she said. “It was such a big target, 
-all the interests weighed in? and attacked it 
from different angles. 

The administration is not going to present 
such a big target again, but rather, will con- 
sider “how much to bite off ” she said. 

' The White House has put health reform in 
the hands of its top economic- and domestic- 
policy aides, Robert E. Rubin and Carol H. 
Rasco, reducing the role of Ira Magaziner, the 
chief architect of the failed 1993-94 Clinton 
health plan. (WP) 


Quote /Unquote 

Jon Christenson, the Republican congres- 
sional candidate in Nebraska, asked why he 
had failed to vote in three out of four recent 
local elections, explained that he ran his busy 
life on to a written schedule: “Unfortunately, 
I didn't have anything on that piece of paper 
that said. ‘Vote today.' ” (AP) 


A Go- Ahead for $1.8 Billion Fusion Laser 


By William J. Broad 

New York Tima Service 

NEW YORK — In the first major step 
toward the restructuring of the U.S. nucle- 
ar weapons complex for the posl-Cold War 


project has sparked vigorous debate within 
government and scientific circles over 
whether it will help or hinder the spread of 
nuclear weapons. 

If the plan is approved by Congress. 


If successful, it would be the world's 
first device to control thermonuclear igni- 
tion, the phenomenon of fusion belter 
known for lighting stars and powering hy- 
drogen bombs. 


i i£> ■fruit! i»f* « j ’ IV 1- ••'ifr 

» p,. r -. - ;vV 

fa V. 

‘ 

Min 

alt ,*» .t ' •• :• ,! ’*! 

.. Ik-aWi ; Inc -1 '■ 

i a Mmw* h b»wnl 1 > 1 ** 

m .a.m K' .h-.- 
MM" 1 • ■ ' • “ 

»• • l 

at . 

t »MSf<r4iD M»li« exiwn^f: 


i 

/pt •' ; 

iftMwn 

*-o •• 

.1 ' « 

»l f*i J 

Mw* • u ■ 

»aliU th»- j 


„«l 


, The device is to generate miniature 
blasts of thermonuclear fusion energy for 
[studying bow the stars shine, how such 
nuclear fire may be harnessed on Earth to 
1 generate electrical power and how the reli- 
. ability of hydrogen- bombs can be main- 
“tained without full-scale, explosive tests 
underground. 

V Housed in a building the size of two 

- football fields at the Lawrence Livermore 

* National Laboratory in northern Calif or- 
’ nia, theproject would easily be the world’s 
' largest and most powerful assemblage of 
■'lasers. . . 

; .The dedsion to build the machine marks 
r , a turning point for Livermore, a Cold War 

- bastion set adrift with die demise of its old 
' job of designing nuclear warheads. The 


jobs in the last few years; and^arr injection 
of money would check the downturn with 
new recruits, especially young physicists. 

Some experts worried about the spread 
of nuclear weapons contend that the laser 
machine, to be known as the National 
Ignition Facility, makes the United States 
look hypocritical as it urges other nations 
to forgo the testing of nuclear weapons 
while perfecting a new device to do so in 
miniature. 

The machine would help scientists push 
back the. frontiers of nuclear physics and 
. astrophysics while learaing.scientific sub- 
tleties that might be applied to nuclear 
weaponry, and would create a cadre of 
experts that, in theory, could design new 
bombs if needed. 


energy — a thousand ’times the output of 
all the power stations in the United Slates 
— onto a single liny pellet of super-cold 
hydrogen fuel, creating a miniature ther- 
monuclear blast. 

In theoiy, the machine would be strong 
enough to go beyond the break-even point 
in the quest for controlled nuclear fusion, 
where the energy consumed in the. effort 
equals the energy released. 

Instead, it would go into the realm of 
“ignition,"' where sufficient heat is gener- 
ated to make fusion reactions self-sustain- 
ing. - ■ ‘ C - * 4 

The project’s $1.8 billion price tag in- 
cludes operating costs over the laser’s pro- 
jected lifetime of 15 years. 


m. t rn.vfL. . 

;ah l*m**f£ , 

Dwt'Ia •: ' - 

a u ■ "• . 

» v; .-jig \ 

h,,: ' , 

ji, *■-!■■ ■» 1% 

‘ n l 

... 

kuiUi ban' 1 • * 


miW'"' 1 ’ . -,• cif- 

Br:p ■'* ' 


**•»"«*' 


»«• 1 • - 


ryou 


f0 c.iHina 


wet " ' 

liin f"*** * 


M >***■ 


AMERICAN 

TOPICS 


Is Homework Discriminatory? 

. Catifornia School Aide Hunks So 

A proposal to abolish homework will come 
- up next week before the the five-member 
school board in Half Moon Bay; which over- 
sees 3,500 students in a district just south of 
San Francisco. 

“It’s inherently unfair, and I think we 
should abolish it,” said Garrett Redmond, a 
board member who made the proposal Some 
educators say he has a point. 

■^Some students can tap into computers in 
thdr own bedrooms, Mr. Redmond says, “but 
. the unfortunate people who live in hovels 
with the entire fWuy sharing one or two 
rooms — how is that kid supposed to do his 
homework?” 

Still, they are graded the same, he said. 

Children also don’t have the same rime to 
do the work. While one student may live five 
minutes, from .school, another may spend 
more t han an hour on a school bus. Even 
' when they get home, some students have 
chores, some don’t. . And up to five or six 
hours of homework Leaves little time to spend 
with their siblings or parents. 

District Superintendent Jane Martin cau- 
tioned that homework is essential. “We want 
students to be prepared to learn by them- 
selves — that’s an important aspect of home- 
work,” she said. 


Away From Politics 

• Fire roared through a boose near the 
Bloomsburg University campus in Pennsylva- 
nia, kilting at least five people. The dead were 
believed to be students. 

• An outbreak of salmonella poisoning that 
made at least 400 people ill in 16 states may 
have been caused by tanker trucks that car- 
ried raw and then ice cream mix. federal 
officials said in Washington. The ice cream 
was manufactured by Sch wan’s Sales Enter- 
prises, which recalled the tainted mix. 

• A woman shot and killed her sleeping broth- 
er-nriaV while he was out on bail on charges 
of raping her 13 -ycar-old daughter, the police 


To ease the burden, the upper schools have 
after-hours homework clubs, and teachers of- 
fer special help. But that's of little use to 
chQdren who must follow a bus schedule, she 
said. 

“What it comes down to. is that life isn't 
fair,” Miss Martin said. 

Short Takes 

The city of Norton Shores, Michigan, Is 
dropping a littering charge against a woman 
whose 7-year-old daughter, Kristen, posted 
signs on utility poles saying in crayon. “Lost 
Bunny, Help!” Mary Margaret Daugherty 
had faced a 5500 fine or up to three months in 
jail. “The dry has no desire to prosecute a 
mother and little girl for a lost rabbit, but we 
do uphold (be ordinances of the dty and 
support our police department,” Mayor Nan- 
cy Crandall said. Mrs. Daugherty said the 
rabbit was returned by someone who saw one 
of Kristen's posters. 

Diners trolfing for a low-fat meal can an- 
chor safely at thdr favorite seafood restau- 
rant, as long they steer clear of the calorie- 
packed fried fish combo, according to a 
public-advocacy group, the Center for Sd- 
ence in the Public Interest. The group has 
made waves within the past year with studies 
lambasting Chinese, Italian and Mexican fare 
and movie theater popcorn for being too 
fattening. It now says says seafood restau- 
rants offer a greater variety of healthy meals 
than other establishments. “Bake it, broil it, 
blacken it, grill it — as long as you don't fry it 
— seafood is a great catch," said a group 
nutritionist, Jayne Hurley. 

International Herald Tribune. 


in Parsons, Kansas, said. Kim Patton, 32. was 
arrested at her home shortly after the shoot- 
ing of David Alan Patton, 33. 

• GuM War Syndrome, which has struck thou- 
sands of veterans of the 1991 war, now ap- 
pears to be contagious. According to a survey 
and accounts of ns victims, the disease has 
Spread from afflicted veterans to 7S percent 
of their wives, 25 percent of offspring born 
before the war and 65 percent born since. 

• The Southern California temblor in January 
measurably rearranged more than 1.900 
square miles (4,912 square kilometers) of met- 
ropolitan Los Angeles, leaving portions 2 feet 
(61 centimeters) higher than before, accord- 
ing to a scientific report. .VVT. ap. Rouen. LiT 


BENTSEN: 

6 Costly Words 

Conrinoed from Page 1 
watching developments close- 
ly." Just in case this was not 
dear enough, Mr. Bentsen add- 
ed that Washington would pre- 
fer to see a stronger dollar. 

“We have demonstrated be- 
fore with our Group of Seven 


£ Sm 




Spy’s Wile 
Sentenced 
To 5 Years 
In Prison 


The Associated Pros 

ALEXANDRIA, Virginia — 
Rosario Ames, wife of the con- 
fessed spy Aldrich Hazen 
Ames, was sentenced Friday to 
5 years and 3 months in prison, 
after begging a federal judge for 
mercy for herself and her 5- 
y ear-old son. 

The sentencing came after 
Mrs. Ames read a statement ad- 
mitting that she bad “provided 
adviqe and support" for her 
husband’s spying for the Soviet 
Union and then Russia. But she 
sought leniency ^so she could 
take care of their son. Paul, now 
living with relatives in Bogota. 

ta I beg you, your honor, Paul 
needs me, Paul is innocent, he 
did nothing wrong,” she told 
U.S. District Judge Claude Hil- 
ton. “Please understand that 
you are not only sentencing me, 
but Paid, too.” 

With credit for eight months 
she has served since her arrest 
Feb. 21 and time off for good 
behavior in prison, she could be 
released, in 3 years and 8 
months, prosecutors and de- 
fense attorneys said. 

Her husband, a former CIA 
officer who has been impris- 
oned for life without parole, has 
admitted he was paid more than 
$2J million, compromised doz- 
ens of CIA operations and ex- 
posed numerous foreigners who 
were spying for the CIA. The 
government says at least 10 
were executed. 

Judge Hilton sentenced the 
41-year-old, Colombian-born 
woman to the lowest term avail- 
able under a plea bargain she 
struck with prosecutors when 
she pleaded guilty April 28 to 
conspiring tocOmmit espionage 
and evade, taxes. 


£. v VV 

97 \-r. ■ .?*: 




•• ••: , , 

• ' 1 — K . < t ' J r 

: • „'•* “ ■%—*■** ■ -***-*■ 

U"‘ ~ 1 

ZZL y-ss*} 

; n". » — '■-% >»&!£ - * 



Faye Resnick, left, whose book on Nicole Simpson has caused an uproar, talking with Connie Chung of CBS News. 

Writer Takes Stage in Simpson Drama 


By David Margolick 

New York Times Service 

LOS ANGELES — Until Nicole 
Brown Simpson and Ronald Goldman 
were murdered, few people outside the 
chic boutiques of Rodeo Drive, Star- 
buck’s in Brentwood and some charity 
circles of Beverly Hills had ever heard of 
Faye Resnick. 

Even afterward, as the O. J. Simpson 
case spun out a huge cast of characters, 
she remained in the peripheral world of 
the tabloids. 

But now, with a giant assist from 
Judge Lance A. Ito. who before closing 
pan of the jury selection process to the 
press on Thursday had urged potential 
..jurors to avoid Ms. Resnick's new book 
about Mrs. Simpson and beseeched tele- 
vision personalities not to interview her. 
Ms. Resnick has strutted onto center 
stage. 


Mr. Simpson’s lawyers have likened 
the book to “a drive-by shooting of a 
trial in progress.” 

They say she is completely untrust- 
worthy, given what she concedes to have 
been her history of broken marriages and 
drug abuse. 

Even the intensity of her friendship 
with Nicole Simpson is in dispute. Mrs. 
Simpson’s lather, who has called the 
book “T-R-A-S-H.” has said that Ms. 
Resnick “wasn't that close" to his daugh- 
ter. But others say they were inseparable, 
particularly over the last 18 months of 
Mrs. Simpson’s life. 

In fact, Ms. Resnick's former hus- 
band, Paul, maintained that Nicole 
Simpson had pledged to stop drinking 
and taking drugs to help Ms. Resnick 
break her own habits, though Mrs. Simp- 
son’s family denies Nicole ever had such 
habits. 


Like so many other heels of the Simp- f JR ,° r lhem T- e ah T , K 
son drama, people have diametrically lW ? ^f 1 A nU »wk S ^ e '..^d 

different views about Ms. Resnick and ° 

what she has written. ^Jjj^ ^ to Resn ck from 

To some who know Ms. Resnick, 37. ®u/kL p ! ir 


she is as she portrays herself: a coura- 
geous voice for the truth and a champion 
for women, someone bucking O. J. Simp- 
son's powerful network 1 of propagan- 
dists 1 .' 'lawyers- 'and’ loyalists to describe 
•the jealous and' violent man behindUhe 
affable facade. 

To others formerly in her circle, like 
Cora Fishman, she is “Faye the Fake” — 
an opportunist making a quick buck on 
the bloodied body of her friend. 


Mr. Resnick, a Los Angeles businessman 
who was married to Ms. Resnick from 
1986 to 1991. 

“When Faye is straight if she’s not in 
the middle of a drug thing — which she’s 
not — she's a great girl, very honest and 
very forthright," he said. 

About 750.000 copies of Ms. Resnick's 


Nicole Simpson and threatened to kill 
her if he found her with another man. 

In an interview, Ms. Resnick — who 
has met with the chief prosecutor in the 
case and may still be a witness, albeit an 
extremely vulnerable one — said she had 
written the book because of a promise 
she had made to Nicole Simpson, one she 
could keep far more effectively in print 
than on the stand. 

“When Nicole told me she knew- she 
was going to die and that O. J. would get 
away with it, I made a promise to her: I 
would tell the truth and not let that 
happen,” she said. 

Ms. Resnick said that within a week of 
the killings, both Mr. Simpson and his 
friend A. C. Cowlings had called her and 
others in Mrs. Simpson's entourage, urg- 
ing them to keep mum about the Simp- 
sons' stormy relationship. 

“We're not doing what O. J. wants.” 
she said. “O. J. wants us all to say he's 
the nicest man in the world. That’s just 
not true. I believe he’s a murderer." 

To Ms. Resnick's friends, she is pro- 
tecting the record from Mr. Simpson’s 
handlers. “We arc ail very skeptical that 
he’s going to get convicted because he’s 
so manipulative and charming that peo- 
ple worship him like Gandhi," said Rob- 
in Greer, an actress who was dose to 


book, “Nicole Brown Simpson: ThcFrir ...Mrs.. Simpson. _ 


vate Diary of a Life Intenrupied." have 
been rushed into prim. 

In the book, co-written with Mike 
Walker, a columnist and senior editor at 
the Nauonal Enquirer. Ms. Resnick de- 
scribes how Mr. Simpson repeatedly beat 


“I truly believe she did not write this 
book just to make a buck. She did it 
because she felt that O. J. was going to 
commit murder and gel away with it. She 
wanted to expose the darker side to 
him.” 


Burt Lancaster Dies, Sensitive Tough Guy 


New York Times Serrur 

Burt Lancaster, 80. the rug- 
ged one-time circus acrobat 
who became a Hollywood star 
in physical, intelligent roles, 
died of a heart attack Thursday 
night in his Los Angeles home. 

He suffered a stroke four 
years ago that left him partly 
paralyzed. 

Mr. Lancaster, who won in- 
stant fame in his first film, “The 


with egg. even a whole omelet. Sergei F. Bondarchuk, 74, 
on my face." Movie Director and Actor 

Burton _ Stephen Lancaster MOSCOW t A 


was bom in New York on Nov. 
2, 1913. the son of a postal 
worker. At New York Universi- 
ty, which he attended on an 
athletic scholarship, he played 
on the basketball team and was 
active in baseball boxing, track 
and gymnastics. 

After two years he dropped 


KiUers.” in 1946. was an actor out and, with Nick Cravat, a film-produced movie “Destiny 
who could have settled for com- boyhood friend, formed the ac- of a which ^ a ^gi'c 
fortable stardom m tough-guy robatic team of Lang and Cra- sl0ry ofa World War ri soldier, 
action movies, but instead pre- penonnmg a horizontal- H broader fame 

ferred I to take risks and accept ^ h a( S f^ bis 1965-67 film adaptation 
roles that expanded his ranee, ca™ with a small circus while „r tv,!..,™’* »w,r » 


MOSCOW (AP) — Sergei F. 
Bondarchuk. 74, one of Rus- 
sia's greatest film directors and 
a prominent movie actor, died 
Thursday of a blood disease, 
the Itar-Tass press agency re- 
ported. 

Mr. Bondarchuk became 
widely known In 1959 when he 
directed and starred in the M en- 


action movies, but instead pre- 
ferred to take risks and accept 
roles that expanded his range. 

Mr. Lancaster, who won an 
Academy Award in 1961 for the 
title role in “Elmer Gantry.” an 
adaptation of Sinclair Lewis's 
novel about a lecherous charla- 


He won even broader fame 
for his 1965-67 film adaptation 
of Tolstoy’s “War and Peace,” 


Sept. 13 in Maribor, Slovenia, 
where she had been seeking 
medical treatment, said Martin 
Fredmann, her former husband 
and the artistic director of the 
Colorado Ballet in Denver. 

Ben Andrew Kubasik, 65, a 
former public-relations execu- 
tive and film critic who wrote 
about television for New York 
Newsday, died of fungal pneu- 
monia Wednesday in New Ro- 
chelle, New York. 

Frank Joseph Batttsti, 72, a 
U.S. District Court judge who 
presided over several important 
cases in Cleveland, including 
the deportation of John Dera- 


From lQVMn’ unq SJu in wh ich he also played Pierre janjuk, died of typhus and 
2 Sl?3LI ! 'SlS? Bezukhov. The 16-h^ur movie Rocky Mountain spotted fever 

rhTnww was later re-edited and sold all Wednesday in Cleveland, 

the Ringing Brothers and Bar- thft WAr . ri o. 


partners that we are prepared to '■ liked to alternate muscular, 
intervene in the exchange mar- athletic roles with more sensi- 
kets -when appropriate,” he tiyeportrayals. 
said. “We are still prepared to Thus, in 1952, he appeared in 
do so.” ^ swashbuckling "Crimson 

In his defense, the Treasury Pirate” and also took on the 
secretary contended that his demanding role of Doc De- 
original remarks had been tak- middle-aged alcohol- 

en “out of context.” if ™ ® ack : Little She- 

A similar argument was RJ“ ^yatt 

made Friday by a Bundesbank JS V 

official in Frankfurt, who was and a vicious &o^srp 

seeking to explain remarks m Sweet SmeU of 

made Thursday by Hans Tiet- i5U ?^ s '. Qfil . . . 
mever, president of the German / V| d r !° ^ - ^ r ' Lancaster 
central bank. ** » “ a comj f br ?“ 

Currency traders pushed up 1 ? as " b “ f u, i aw “ 

the value of the Deutsche maw ^f*^ Annie and Ll *?S ? n Ich ‘ 
against the dollar in pan be- f and was nominated for an 

«u« Mr. Tie.meyer was 


num & Bailey Circus. 

During military service in It- 


over the world. 

KaJeria Fedicheva, 58, a for- 


athletic roles with more sensi-> aty in World War II, he met 

tive portrayals. Nonna Anderson, an entertain- Ballet m Leningrad who taught 


quoted saying Thursday that he 

had “no problem” with the dol- - 


naa no problem with tne doi- r-. . 

SSv’mamMo clud “ i “ Fran Here l ° Elemi - 

problem for the Germany econ- AJouraz,” “Jim Thorpe — All 
the communications gap be- 

tween lop-Ievet financial offi- Ramraaker and 

dais and thecurrency market, it *ne Leopard, 

would seem, is as global as the m £f c e ^ 

market itself. w forra ^s owa production 

company, which turned out 

many of his own movies as well 

Saadi Arabia Kills Smuggler 

Reutm same year he directed himsdf in 

DUBAI. United Arab Emir- “The Kentuckian,” which was 
ates — Saudi Arabia executed a unsuccessful, but won critical 
Pakistani on Friday who was praise for his role of the comic 
convicted of smuggling heroin suitor of Anna Magnani in Ten- 
into the country, the official nessee Williams’s "Rose Tat- 
Saudi press agency said. Rap- too.’’ 
ists. murderers and drug smug- Because he insisted on taking 
glers are usually beheaded with chances, on casting himself 
a sword in public after Friday “against type." Mr. Lancaster 
prayers. sometimes, he said, "came up 


Saadi Arabia Kills Smuggler 


er who in 1946 became his wife. 
They were divorced in 1969. 

In 1945, the future Mrs. Lan- 
caster was working for a New 
York producer, and Mr. Lan- 
caster, on furlough, went to her 
office to see her. The muscular 
6-foot-4-inch (1. 94-meter) sol- 
dier impressed the producer’s 
assistant, who asked Mr. Lan- 
caster to uy out for the role of a 
tough army sergeant in a play 
called “A Sound of Hunting." 

He got the role and although 
the play lasted only five weeks. 
Mr. Lancaster received seven 
offers from movie producers. 
He signed a contract with the 
producer Hal Wallis, who lent , 
him to another producer, Mark j 
Hellinger. to star in "The Kill- 1 
ers,” based on a short story by 
Ernest Hemingway. 

In 1948 Mr. Lancaster start- 
ed buying out his contract with 
Mr. Wallis, and with his agent, 
Harold Hecht. formed his own 
company, Norma Productions. 


Finland Schedules EU Vote 

Reuters 

HELSINKI — Parliament 
will on Nov. 8 or 9 on Finnish 
membership in the European 
Union, a Parliament official 
said Friday. A two-thirds ma- 
jority is needed in the 200-seat 
body for final approval of 
membership. 

To subscribe In Gomany 
just call/ toll fvoOf 
0130 84 83 85 


and staged the classics in the 
United Stales, died of cancer 


Wednesday in Cleveland. 

Meta Carpenter WOde, 86, 
who wrote a 1976 memoir of her 
longtime love affair with the 
author William Faulkner, died 
of pneumonia Tuesday while on 
a visit to Kansas City, Missouri. 


5 NEW REPORTS: 

How to Profit 
and Avoid Taxes 


1. “225 TAX HAVENS” 

Revised and Updated in 1994 From the Earlier "2 IS Tax Havens". 
How You Too Can Beat the System by Having Some ofYour Money 
and Assets Offshore. Leant Where and How — 

2. ‘■TVTERNATIONAL MAHDROP 

DIRECTORY” 

Newest 'and Most Complete Source of 2245 Accommodation 
Addresses in Over 100 Countries and 50 U.S. States. Transmit 
and Receive Letters in Complete Secrecy— 

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

How to Acquire a Bank Charter and Bank License for Less than 
US$2.500 in a U.N. Recoanised Sovereign Country. Leam 
Where You Can Set Up Your Bank ana How to Apply. 

4. “HOW TO BECOME A LEGAL HOLDER 
OF A SECOND PASSPORT' 

Totally Different Reveal-it-All Guide to 5 1 Foreign Passports. 
The Best . Cheapest and Fastest Waysro 
Get One...and Why You Should . 

5. “OFFSHORE NESTEGG STRATEGY” 

Revised 1994 Report Tells You How to Systematically 
Accumulate Secret Money Oft shore... and 
How-To- Do-ll- Yourself — 

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

26 A Peel Street, Ground Floor, (Dept.341) 
Centra), Hong Kong Fax: + 852 850 5502 

Please Quote Popi. ,V.» 11 /«■» Replying 


) 




Page 4 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUIVPAY, OCTOBER 22-23, 1994 


Israelis Exchange 
Rocket Fire With 
Lebanon Fighters 


By Clyde Haberman 

New York Times Serves 

JERUSALEM — While still 
recovering from the devastating 
bus bombing in Tel Aviv, Israel 
fought on a different from Fri- 
day, with its forces shelling Is- 
lamic fighters in southern Leba- 
non and the guerrillas firin g a 
series of Katyusha rockets at 
northern Israeli towns. 

The rocket attacks by the 
pro-Iranian Hezbollah, or Party 
of God, sent Israelis into bomb 
shelters, but no injuries were 
reported and damage was said 
to be light. 

Israeli officials said the bar- 
rage might have been a show of 
support for Islamic radicals 
from the Hamas group in the 
Wet Bank and Gaza Strip, 
which took responsibility for a 
suicide bombing aboard a Tel 
Aviv bus on Wednesday that 
killed at least 21 people. 

But in the tit-for-tat violence 
that has been going on for years 
at the border, the rocket firings 
may have been direct reprisals 
for a bombardment of Leba- 
nese towns on Thursday by the 
Israelis and their client Leba- 
nese militiamen. These attacks 
reportedly killed seven people 
in two villages, including sever- 
al hit by tank shells packed with 
hundreds of steel darts. 

The United Nations, which 
has forces in southern Lebanon, 
protested Israel's use of those 
shells on Friday and said that 
Secretary-General Butros Bu- 
iros Ghali was “deeply con- 
cerned by the escalation of ten- 
sion along the Israeli-Lebanese 
border." 

There was no sign, however, 
that the exchanges in the north 
were about to spin out of con- 
trol as they did last year when 
Hezbollah fired intense rocket 
barrages and the Israelis re- 
sponded with relentless shell- 
ings that killed scores of people 
and temporarily forced several 
hundred thousand villagers 
from their homes. 

For most Israelis, and Pales- 
tinians, attention was riveted 
more on repercussions of the 
Tei Aviv bus attack, particular- 




ly Israeli warnings of a stepped- 
up war against Hamas on the 
West Bank, which is still under 
Israeli control except for the 
town of Jericho. 

Israeli mobility is far more 
limited in the Gaza Strip, a Ha- 
mas stronghold but under Pal- 
estinian self-rule and therefore 
hard to target unless Israel 
wants to imperil its agreements 
with Yasser Arafat’s Palestine 
Liberation Organization. 

On Thursday, the Israeli gov- 
ernment gave its security ser- 
vices new powers to crack down 
on Hamas. Though not spelled 
out publicly, they were said to 
include efforts at better intelli- 
gence-gathering and at inter- 
rupting the money flow to the 
Isl ami c group from foreign 
sources. 

Officials said Friday that 
widespread detentions for long 
periods, house demolitions and 
the shutting of Hamas institu- 
tions are all possible soon. In an 
interview published Friday, 
Lieutenant General Ehud Ba- 
rak, the army chief of staff, did 
not rule out possible deporta- 
tions, reminiscent of Israel's 
mass exile of some 400 Palestin- 
ians to southern Lebanon in 
December 1992. 

“If these attacks continue, we 
will use every legal means at our 
disposal.” he told the newspa- 
per Yedioth Ahronotb. 

Other Israeli newspapers said 
that deportations were being 
considered. But a senior official 
said this sort of action was un- 
likely, given the international 
uproar over the 1992 banish- 
ments. 

Besides, some Hamas mili- 
tants have said that they had 
taken advantage of the exile pe- 
riod in Lebanon to learn new 
terrorism tactics, including 
techniques used in the bombing 
in Tel Aviv, the deadliest attack 
in Israel since 1978 and one of 
the country’s worst 

For now, the most visible 
sign of Israel’s crackdown is its 
closing of Gaza's borders and 
West Bank crossing points, an 
action that keeps 60,000 Pales- 
tinians from low-payingjobs in 
Israel 



Dnnd SiKernun/Rnum 

A Palestinian trying unsuccessfully Friday to enter Jerusalem from the West Bank. 

PERRY: U.S. Won't Reduce Military Force in Korea 


Continued from Page 1 
oed while North Korean sol- 
diers maintained an eerie vigi- 
lance. 

“This framework agreement 
did not deal with conventional 
military forces," Mr. Perry said, 
referring to the nuclear accord. 

In his comments to reporters, 
Mr. Perry outlined three steps 
that be said the North should 
take to reduce its threat to the 
south. 

“They could withdraw the 
massive amount of artillery 
they have based fairly near the 
DMX," he said, referring to the 
Demilitarized Zone. 

“They could reduce the total 
size of their army. They could 
reduce the forward deployment 
of their army.” 

In recent months, the United 
States has taken some steps to 
strengthen its forces in South 
Korea. It has deployed addi- 
tional munitions, sent Patriot 
anti-missile batteries, upgraded 
its attack helicopters and dis- 
patched additional intelligence 
personnel. 

The steps were a precaution 
in case economic sanctions 
were imposed against the North 
Koreans because of their nucle- 


ar activities. Pyongyang re- 
sponded by lashing out at the 
South. 

But even with the nuclear ac- 
cord, the number of North Ko- 
rean troops is too great, the sit- 
uation in North Korea too 
uncertain, and the South Kore- 
ans too nervous to consider cut- 
ting back the American deploy- 
ments at this time, U.S. officials 
say. 

While Mr. Perry was arguin g 
that American and Sooth Kore- 
an forces need to keep then- 
guard up. South Korean offi- 
cials announced Seoul was can- 
celing this year’s annual Team 
Spirit exercise, which is intend- 
ed to rehearse the American 
and South Korean defense of 
the peninsula. 

The cancellation of the exer- 
cise is essentially a political ges- 
ture to the North and has been a 
foregone conclusion ever since 
North Korean and American 
negotiators came to terms on 
the nuclear question. 

The South Korean public is 
deeply divided over the nuclear 
accord. Part of the apprehen- 
sion reflects South Korean un- 
ease about depending on anoth- 
er power for its security. But it 


also reflects different agendas 
on the nuclear issue. 

In negotiating the accord, 
Washington was pursuing its 
priorities, which were first and 
foremost to freeze the North 
Korean program . 

From the Pentagon’s per- 
spective, stopping the North 
Koreans from making dozens 
of new bombs is more impor- 
tant that carrying out an inspec- 
tion . 


Hamas Makes Deal in Gaza 

Palestinian Authority Seems to Accept Truce 

proven connection’’ of the Tel Aviv bombing 


By Barton Gellman 

H’tts fwtfum Post Service 

GAZA ClTY — As Israel and the militant 
Islamic movement Homos declared unendin 
war after the shattering bomb attack in T 
Aviv, Hamas and Yasser Arafat's Palestinian 
self -rule authority made a sort of peace. Their 
off-again, on-again struggle, between rejec- 
tionists and those willing to bargain with 
Israel, appears to be off again, despite the 
Israel’s demand for a crackdown. 

An ultimatum for the release of imprisoned 
Islamic militants handed down by the mili- 
tary wing of the Islamic Resistance Move- 
ment, or Hamas, expired without incident, 
much like previous threats against Mr. Ara- 
fat's “collaborators." 

And around the Gaza Strip, where Mr. 
Arafat has run a limited self-rule government 
since summer, Palestinians said that his Pal- 
estinian Authority and Hamas can coexist 
even if they cannot cooperate. 

“If a confrontation takes place between 
Hamas and the Palestinian Authority," said 
Emad Falouji. a senior Hamas leader inter- 
viewed here, “the only loser is the Palestinian 
people and the only winner is Israel Israel is 
gambling on this fight" 

Prime Minister Yitzhak Rabin, calling 
Gaza a nerve center of anti- Jewish terror, 
demanded last week that Mr. Arafat choose 
between peace with Israel and peace with the 
armed wing of Hamas, which took responsi- 
bility for the bomb attack on a Tel Aviv bus. 
But one of Mr. Arafat's lieutenants, Sufyan 
Abu Zeidab, said Palestinians “reject the as- 
sessment that we must choose." 

“The Palestinian Authority wants peace 
with Israel but peace inside the Palestinian 
house is more important," he told the Reuters 
news service. “There is no reason to make 
large arrests or take actions when there is no 


t0 Hamas, in fact, took pains to offer 
to the contrary. In the 

Bank town of Nablus, the militant Islamic 
issued a videotape ofthe young mmut 
id carried out the suicide bombing m 


said 
Td Aviv. 

By ordinary measures of power, Mr. Arafat 
has much the upper hand. He has more than 
9,000 armed policemen and a web of secunty 
and intelligence services, while Hamas is gen- 
erally estimated to have only several hundrea 

in its armed wing. .. 

But Hamas has popular support as weiL 
Mr. Arafat’s Fatah organization estimates 
that 20 percent to 25 percent of Gazans are 
Hamas loyalists: Hamas's estimates range 
from 40 to 60 percent. There are no authorita- 
tive estimates. 

Abdel Hayim Abdasfaem, a Hamas sup- 
porter, who sells kitchenware, said, Rabin 
hfm«a>]f is responsible for the deaths m Tel 
Aviv, because just a short while ago Rabin 
was to release all the prisoners in Israeli 
jails, when he refused, this thing hap- 
pened." 

The continuing imprisonment of thousands 
of Palestiniansm Israel when peace talks 
raised expectations of their release; has been a 
major wedge into public opinion for Hamas. 
Mr. Arafat, many Gazans said today, has 
been ineffectual in forcing Israel to open its 
jails. . . . 

For now, Hamas and the Palestinian Au- 
thority have called a truce. Their tacit deal 
according to Palestinian officials interviewed 
Thursday, is that Hamas will avoid l i nk i ng 
the newly autonomous Gaza areas to its at- 
tacks on Israel and die self-rule authority in 
turn will not be obliged to crack down on 
Hamas 


ACCORD: U.S, and North Korea Negotiators SignNuelear Pact in Geneva 


Continued from Page 1 

mum. Under the broad agree- 
ment concluded here late Mon- 
day, North Korea will freeze its 
nuclear activities, renounce any 
ambition to become a nuclear 
power and open up two secret 
military sites to inspection by 
international experts in order to 
verify if Pyongyang already 
possesses nuclear capability. 

In exchange, an international 
consortium will replace North 
Korea's current graphite nucle- 
ar reactors with new light-water 
reactors, which are considered 
less dangerous because they 


produce little weapon s-grade 
plutonium. The United Stales 
also agreed to low-level diplo- 
matic ties with North Korea. 

After the accord was signed. 
North Korea’s chief negotiator, 
Kang Sok Ju, described it as “a 
very important milestone docu- 
ment of historic significance” 
that would resolve his country’s 
nuclear dispute with the United 
Slates “once and for all" 

The agreement confirms that 
North Korea will be supplied 
with two new light-water reac- 
tors with a generating capacity 
of around 2,000 megawatts by 


“a target date of 2003." Con- 
tracts to provide the reactors 
should be signed within six 
months, it said. 

Mr. Gallucci added that 
South Korea would play “a cen- 
tral role" in financing and sup- 
plying the reactors. They are 
expected to cost S4 billion. 

To compensate North Korea 
for not refueling a small 5- 
megawatt reactor and not com- 
pleting construction of 50- 
megawalt and 200-megawatt 
reactors, the United States said 
it would arrange for North Ko- 
rea to be supplied with heavy oil 


— about 500,000 metric tons 
annually by 1996 — for heating 
and electricity production until 
the new reactors are operation- 
al 

The agreement commits 
•North Korea to freeze all its 
nuclear activities within one 
month, ft also establishes that it 
will dismantle its current reac- 
tors and other related installa- 
tions and will store its spent 
fuel rods while the light-water 
reactors are under construction. 

It will then “dispose of the fuel 
in a safe manner that does not ? 
involve reprocessing" in North 
Korea. 


CLENTON: Pressing for Peace 


Continued from Page 1 

said: “It is even more important 
than it was a few days ago that 1 
go there.” 

Mr. Clinton said the attacks 
were carried out by “the ene- 
mies of peace.’’ 

He will see Mr. Assad next 
Thursday. When they met in 
Geneva in January, the presi- 
dent said be found the Arab 
leader disposed to reaching a 
settlement. But talks are mov- 
ing slowly, especially over the 
future of the Golan Heights, 
which the Israelis hold and 
which Mr. Assad wants to get 
back. 

Mr. Clinton would also like 
to visit religious sites in Jerusa- 
lem on his first trip to the Mid- 
dle East as president, but secu- 
rity concerns may stand in the 
way. 

Asked if he was concerned 
about his own security, Mr. 
Clinton said, “I have confi- 
dence in the security capacity of 
the governments in the coun- 
tries that I visit and the work of 
our own Secret Service." 

Mr. Clinton also plans to 
meet with King Fahd of Saudi 
.Arabia. 

The president will depart on 
Tuesday, flying first to Egypt to 


see President Hosni Mubarak, 
in a tribute to the Egyptian 
leader, who has assisted both 
the Bush and Clinton adminis- 
trations in their efforts to rec- 
oncile Israel and the Arabs. 

The centerpiece of the trip is 
the signing of a peace treaty 
between Israel and Jordan on 
their southern border Wednes- 
day. Also, Mr. Clinton will ad- 
dress the Israeli and Jordanian 
parliaments and visit American 
troops in Kuwait. 

Decisions on Mr. Clinton's 
stops during the three-day visit 
are being taken with an eye on 
security and the recent series of 
violent incidents in Israel. 
Many of the holy sites in Jeru- 
salem are in crowded areas 
where controlling crowds is dif- 
ficult, and the administration is 
still weighing the concerns. 

In Saudi Arabia, Mr. Clin- 
ton's agenda with the lung will 
include financing the deploy- 
ment of U.S. troops to Kuwait 
to deter Iraqi troops near the 
border, and the cost of main- 
mining a permanent coalition 
in the Gulf area. 

Hillary Rodham Clinton will 
accompany the president 
through most of the trip, flying 
home on Thursday for political 
appearances on the West Coast. 

(AP. Reuters ) 


TRIAL: On Tape , Lawyer Tells Simpson to Stop Talking About Freeivay Chase or He'll Quit 


Continued from Page 1 
attorneys had become so caught 
up in protecting Mr. Simpson 
from publicity that their re- 
quest bad gone too far. They 
asked the judge to reverse his 
ruling. 

Mr. Shapiro said lawyers 
found that potential jurors 
questioned Thursday in private 
were more candid because they 


were being questioned individ- 
ually and not because reporters 
had been shut out. 

A court spokeswoman. Jer- 
riatine Hayslett. said the judge 
agreed that the potential jurors 
were not necessarily more can- 
did because reporters had been 
excluded from the courtroom. 

Prosecutors said they would 
agree with whatever decision 


the judge made, and did not 
object to reopening question- 
ing. 

In his extraordinary ruling to 
dose jury selection Thursday. 
Judge lto had expressed fears 
about widespread publicity 
from the case, noting that he 
had learned of people in Tibet 
watching coverage of the trial 
on television. 


The transcripts released Fri- 
day revealed that during the 
closed meeting Wednesday, one 
of Mr. Simpson's lawyers asked 
the judge to let Mr. Simpson 
speak briefly about whether he 
could get a fair trial. But Mr. 
Simpson apparently started 
talking about the June 1 7 chase. 

“Mrs. Clark — Ms. Clark — 
said I was trying to run,” Mr. 


ULSTER: Britain Offers to Meet With Sinn Fein and Will Open Border 

der," he said. “So we shall be 


Continued from Page 1 

life. This means we can move 
carefully toward the beginning 
of dialogue between Sinn Fein 
and the government,” be added. 
Mr. Major papered over his ear- 
lier demands for the IRA to 
explicitly declare the cease-fire 
permanent and said he was 
“now prepared to make a work- 


China Confiscates Weapons 

The Assoataol Press 

BEIJING — The police have 
confiscated 120,000 illegal guns 
and arrested nearly 10.000 arms 
dealers in a nationwide crack- 
down that started Aug. 29, the 
Ministry of Public Security 
said. 


mg assumption that the cease- 
fire is intended to be perma- 
nent-" 

His actions, particularly the 
reopening of the border roads, 
were greeted with enthusiasm 
by Northern Ireland’s Catholic 
political leaders. “It is very wel- 
come news.” said Mr. McGuin- 
ness of Sinn Fein. 

For a decade, British security 
forces have blocked hundreds 
of rural crossings between Ire- 
land and Northern Ireland with 
concrete barriers, forcing all 
traffic to pass through patrolled 
checkpoints where vehicles can 
be inspected for arms and pos- 
sible terrorists. 

Protestant leaders were more 
cautious Friday, as they have 


been throughout the process. 
Some expressed concern that 
Mr. Major was moving forward 
prematurely, before receiving 
guarantees that the IRA would 
demilitarize. 

"I would not be happy if no 
progress occurs on the weapon- 
ry" before further talks lake 
place, said David Trimble, on 
Ulster Unionist Member of 
Parliament. 

Mr. Major said that while 
talks between British officials 
and Sion Fein leaders could be- 
gin before Christmas, “peace 
cannot be assured finally until 
the paramilitaries on both sides 
hand in their weapons.” 

“These weapons are both 
North and South of the bor- 


consulting the Insh government 
on a coordinated approach." 

The next step. Mr. Major 
said, is to be the formulation by 
the British and Irish govern- 
ments of a joint “framework 
document" concentrating “on 
relations between the two gov- 
ernments, and between North- 
ern Ireland and the Republic" 
of Ireland. 

Most observers believe this 
document will propose some 
sort of mechanism for involve- 
ment by Ireland in the affairs of 
Northern Ireland, but not a for- 
mal unification, which would 
be unacceptable to most Protes- 
tant leaders and probably io the 
British parliament 


Simpson told the judge, refer- 
ring to the prosecutor. Marcia 
Clark. “Everyone knows that I 
called my father-in-law. I was 
not in a frame of mind. I admit 
that I was not in the right frame 
of mind at the time I was trying 
to get my wife " 

At that point Mr. Shapiro 
interrupted and said: “Your 
honor, excuse roe." 

But Mr. Simpson continued 
talking: “I was headed back 
home." 

“Mr. Simpson." Mr. Shapiro 
said. “I am idling you that I 
will not allow you to speak, and 
I will resign as your lawyer if 
you continue to do so.” 

In the transcript Mr. Shapiro 
said that the $7,000 to $8,000 
found in the Bronco after the 
low-speed highway pursuit was 
money Mr. Siirn son had set 
aside for his children “in the 
event that he committed sui- 
cide." 

Mr. Shapiro also said that 
Mr. Simpson's funds were “vir- 
tually depl e ted" because of le- 
gal costs and a trust for his 
children. Mr. Sampson, a movie 
actor and television and adver- 
tising personality since ins re- 
tirement from football was be- 
lieved to have had a net worth 
in the millions before his arrest. 


In a press conference, Mr. 
Gallucd said this spent fuel 
would all be shipped out of 
North Korea by the time the 
first fight-water reactor is oper- 
ational This is not specified in 
the agreement made public Fri- 
day, but the American negotia- 
tor implied that it was part of 
the “confidential minute.” 


On the key question erf when 
North Korea’s secret sites will 
be opened for inspection by in- 
ternational experts, the agree- 
ment said this would occur 
when “a significant portion” of 
the light-water reactors project 
was completed, “but before de- 
livery of key nuclear compo- 
nents." It is not known if the 
secret agreement is more specif- 
ic. 


Acknowledging criticism that 
the United States had been too 
generous with North Korea. 
Mr. Gallucci said he would 
have preferred the so-called 
special inspections to come 
sooner, but be said it was more 
important to deal with the cur- 
rent and future dangers posed 
by North Korea's nuclear pro- 
gram. “The accord is not based 
on trust, but hopefully it win 
build trust,” he said. 




The two sides have agreed to 
reduce trade and investment 
barriers within three months 
and will move toward opening 
liaison offices in each other's 
capitals. 


siTT* 





ca« FREEPHONE EUROPE 

2 4hr Ordering Service 

0800 16370 Luxembourg 0300 2846 

8001 8045 Netherlands 06 0225107 

0591 6003 Portugal 0505 53195 

UK 0800 834 075 

Canada 1800 615 8298 
USA 1800 864 2921 

+353-1-295 7757 


ME •• i " .■ 0591 6003 

?*3 jyj& •. Germany 01 30 820 520 

Ireland 1 850 205 205 

Italy 1678 74700 

■ All Other Countries 


EXCLUSIVELY YOURS by Thomas Gear 

s piece ol personal jwstie n so uniquely special to Us 
owner Ip olden fays it v>z $ fashionable to near a locket 
containing a miniature permit or photograph This great 
xhiewment Ot modem technology is a pendant with the 
tawed picture engraved try laser From loved ones to 
special occasions an a-e beautifully recreated >n 
permanent term Any photograph picture or symbol 
reproduced on a superb quality pendant m Wet gold. 
y pun so diUiftf at the fidehiv. artistry and individuality 
p; itfjr cmr? personal pendant. a piece of personal 
Hery that you can wsa r with pride... something 
i ii/it jmays treasure or perhaps a g,lt tor a very 
;.pecji trend 


LASER ENGRAVED PENDANT 


325 ECU 


CLA0OAGH RING by Hartmanns of Galway 

is a real symbol of tnendship. love and loyalty. This 
beautiful ISct gold Gkdtiagh ring is made in its place ot 
origin by the world renowned Hartmanns ol Galway 
where through (frees generations of family ownership 
and operation Hartmanns have established thsmsshes 
as a leading and exclusive Jeweller ot distinction Their 
emphasis is on quality- sty* and originality Tte 
Gfaddagh ring can be enhanced and varied by the 
addition oi diamonds and emeralds to produce a 
spectacular piece of jewellery. The unique Claddagh 
design truly represents friendship, love and loyally. 


L CSS LADIES heavy weigh! Wet gold 325 ECU 
CCS? GENTS raised heart IBM gold 335 ECU 


PERSONAL EMERGENCY ALARM by ESP 

is a double alarm Firstly, the powerful Hashing strobe 
light ana secondly the loud two-lone siren. It may be 
used m many places, be worn on a waistband or a belt. 
Both strobe fight and siren will go on when the cord is 
pulled. A switch on the side turns on the Hashing strobe 
light only ii is made from a lough ABS 3nd 
pofybicartmaie mb and uses a specially-made micro- 
chip. The 1 tOdb siren and the strobe light need one 9V 
alkaline battery Both strobe and siren will nrn without 
stopping for over one hour and the strobe alone wilt run 
for three hours Tne alarm comes with a 5 year 
guarantee 


DECANTER SET fay Galway Irish Crystal 

This Emerald Isle Decanter Set comprises a handout 
Square Decanter and tour matching Whisky Tumblers, 
on a Fine mahogany fray. It combines the be3ufy ofthe 
rugged Galway landscape with quality, craftsmanship 
and good value for money. This fine Galway Irish Crystal 
decanter set will lend grace and charm to any table 
whatever the occasion - a perfect compliment to good 
wines, fire; foods and pleasant guests. Galway Irish 
Crystal is one ot Ireland's leading producers of 
tiadittona/iy crafted lead crystal products, ft draws 
heavily on a great wealth ot local history and folklore tor 
its design inspiration 


OAK SMOKED SALMON by Irish Seaspray 

comes from the crystal clear wafers oft the Atlantic coast 
where the salmon Is so succulent it sets the taste buds 
tingling Em in an area ot unsurpassed scenic beauty 
and natural, unboiled environment - Connemara on the 
tar west coast ot Ireland, the fast t-anuge twin! tor sailors 
on the long voyage to reach the New World. It is a 
landscape ot countless leys and islands rugged and 
maiestic in their isolation. On Gommna Island, the 
Smokehouse of Irish Seaspray is kcaied ad here, they 
contone aadbona! tmtoaftuq with advanced production 
techniques in an ultra-modem facility to produce an cak 
smoked Atlantic Salmon o! unsurpassed quality, 
freshness and favour 


EMERGENCY ASSISTANCE ALARMS units ) 68 ECU EMERALD ISLE DECANTER SET 


150 ECU DOUBLE SIDE (minimum weight 1.2 kgs) 68 ECU 


rder by Post: send Cheque/Postal Order/International Money Order/Bankers Cheque/Draft to 
iphone Europe, P0 Box 68, Blackrock, Co. Dublin, Ireland. 


For further information about participation in these marketing programmes, call TA Quinn at 
Telephone +353-1-873-3199 Fax +353-1-873-3612 

FREEPHONE EUROPE, Dominic Court. 40/41 Dominick Street Lower. Dublin 1, Ireland. 


ECU 68 

BFr 2677 
Nr 514 
ft 445 
Dm 130 
Punt 55 
Lira 132050 
IFr 2677 
FI 146 
Esc 13294 
E 54 
$C 113 
US$ 84 


150 

5906 

1134 

982 

287 

121 

291300 

5906 

321 

29325 

120 

248 

185 


32S 

12795 

2456 

2128 

621 

262 

631150 

12795 

696 

63538 

260 

538 

401 


335 

13189 

2532 

2194 

640 

270 

650550 

13189 

718 

65493 

268 

555 

414 


• The photograph of the merchandise Uisuidyei 

is not to actual size. H ye 

• The ECU price shown is a guide only as 
charges are in the local currency quoted 

• All taxes and direct delivery charges to one 
address only are included in the prices 
quoted. 

! ulus' , 21 “T lor delivery. 

Multi-lingual, multi-currency ordering 

All Major Credit Cards Accepted 

c© 




c. 





tttotauv ■ ■ 

„ 

f^W.Tl,. . 
)l*V*inj. j 

... V 

AMIft 

f K«>. | . 
«**■ *;."; 
. l ^. L 

4 -»•}!; .. . '. • 

r* »**■. 

} . w . ' 

*' 

'**. tU.V,-. ... 

lair , >v 

*» ** 

V.. U |i 

****'•«.»:« ir 
-.Cj 

I !H'J fv 


Vs* 

i::.’ *»*£■ 





• u *n t . 

V£? teias **- 

• .;:.f ? * b^! 
'•/'■. "‘-•c auik^l 



D.HJ Sum, A me Fumf-Pf^*- 

BACK IN THE FOLD — Prince Norodom Ranariddh, left, Cambodia's co-prime minister, greeting a group of 
defectors - from die Khmer Rouge at Phnom Vuor, where three Westerners hare been held captive for 11 weeks. 


idly flowing, muddy river made it hard to 
find more bodies. Officials said 17 people 
were treated for injuries. 

Witnesses said there was no warning 
before the 4S-meier { 160-foot) central sec- 
tion of the sted-girdered bridge sheared 
cleanly from the main structure and fell 
into the Han. 

H i felt the car shaking suddenly and 
something caving in, then 1 passed out.'* 
Kim Min Ja, a 3 8 -year-old teacher whose 
car fell into the river, told the Yonhap 
news agency. 

“When I regained consciousness, water 
was rushing into the car," the teacher said. 
"1 left through a broken window, swam 
away and was saved." 

A city official, Hong Chong Lira, said 
trucks disregarding the weight limi t and 
the wear of daily rush hours might have 
weakened the bridge. He said that the 


collapse would be investigated and that the 
city would inspect all 15 bridges that cross 
the Han. 

The Songsu was buQt by one of South 
Korea’s biggest construction companies, 
Dong Ah Construction Industrial Co. 

A Dong Ah official said the bridge had 
been designed for vehicles no heavier than 
33 tons. Bat the span, one of the city's most 
traveled, now allowed loads of more than 
43 tons. 

“The bridge could not sustain the load 
for a long time, and connection pins in the 
middle part of the bridge appear to have 
broken,” he said. 

President Bom Young Sam demanded 
heavy punishment for those responsible. A 
presidential spokesman said Prime Minis- 
ter Lee Yung Duk had offered to resign 
over the collapse, but Mr. Kim had initial- 
ly turned down his offer. 

The president did accept the resignation 
of Seoul's mayor, Lee Won Jong, the presi- 
dential spokesman said. 

The bridge, built in 1979, is about a 
kilometer long and connects some of the 
city’s wealthiest neighborhoods to an area 
of office buildings and schools. 

Only last week, questions were asked in 
Parliament over the safety of the bridges 
that span the Han, and Construction Min- 
ister Kim Woo Suk said there was no cause 
for concern. 


The safety of the bridge that collapsed 
had been criticized in two news reports in 
the last year. 

The government-funded KBS Televi- 
sion recently said vehicles often exceeded 
the bridge’s weight limit. Last year, MBC 
television reported that the bridge needed 
repairs. 

Shin Hyong Kyu, a 41-year-old busi- 
nessman, said his car was on a ramp lead- 
ing to the bridge when the bridge col- 
lapsed. Traffic was so heavy and moving so 
slowly that many people were able to stop 
quickly, he said. 

“I saw cars stopping on the bridge and 
trying to back up," he said. “Other people 
got out and ran away from the break in the 
bridge." 

Most of those killed appeared to have 
been aboard a city bus that overturned as it 
fell and was crushed on impact. 

At least 10 soldiers survived when their 
minivan crashed onto ihe fallen bridge 
segment. The soldiers covered injured peo- 
ple with their clothes and tried to resusci- 
tate them. 

Rescue workers placed injured people in 
nets lowered by helicopters and rushed 
them to hospitals. Other workers carried 
bodies wrapped in blankets to the side of 
the river and put them in ambulances. 

(Reuters, AP) 


Rwandan Leader Says Nation Needs Money and War - Crimes Trials, Fast 


tu hnr Part in 

* * HV ~ “***-: ^ 

P »:a 

. u.,% rr**diiLi6a- 
JHj: -I- ' - 

vili' 

' ^ 

k*'*. < xk ijv.urraj 

'■ 1 ' ,, ‘ : ' i: _•::«? reiaituiE* 

»» r ’ 

f *.?•.: u>u e SitfciJ 

i::vir k iWttc. 

* Met 1 •' « : 1 • '■■■f ■ .Jl -r.'s << fc: 

N k. * vs!-* :■ siKnLUti 'i 
■•i - .- - - \c U'l’Mkr-infeV ’ 

h 

r .'■■.Ira.t! 

. * '-lid 

If/ -= !: •*' 

\ •: • tv Or; 

neb - * i 'i 

Uk*.‘ 

j <g . HT £Z8K 

Mta :• : - 

\txit* 

H\Uit It . • ;; .'‘•‘It 

V K.- . ■ 

«F*- 

\i*i i. s 


By Keith B. Richburg 
and Stq>hen L. Buckley 

Washmgrea Pott Sente r 

KIGALI, Rwanda — The battered building 
shows the scars of Rwanda’s civil war, most of its 
windows shattered, its parking lot littered with 
bumed-out cars. Inside, the top-floor office of Prime 
Minis ter Faustin Twagir amung u lies in similar dis- 
repair, with door locks broken off and the carpet 
tattered and stained. 

The prime minister had a telephone installed only 
two and a half weeks ago, thanks to the generosity of 
an African friend. He heads a government that 
barely Bmps along, with no cash. Tew vehicles, not 
even enough file folders or paper clips. 

Mr. Twagiramungu is bitter and frustrated. He 


expressed his anger in an interview as he lashed out 
at Rwanda's foreign donors for moving too slowly in 
providing cash and at the United Nations, which he 
accused of needlessly delaying the start of war- 
crimes tribunals against officials of Rwanda's for- 
mer government. 

‘ “We need money,” he said, his tone betraying his 
exasperation. “Can we have vehicles, for instance, to 
move around the country? Can we have back our 
h dicopters? If we cannot get them, can we have 
money to buy others? Our soldiers have fought for 
four years now with no salaries — even after victory, 
no salaries.” 

All Rwanda has received since his government 
took power in July, Mr. Twagiramungu said, are 
pledges of support to help the country pay $7 milli on 
m overdue loan payments to the World Bank. “Ev- 


eryone is interested in helping the Rwandans in the 
camps at Bukavu and Goma," he added, referring to 
refugee camps in Zaire, where hundreds of thou- 
sands of Rwandans fled in July. 

The prime minister, appointed after the Tutsi- 
dominated Rwanda Patriotic Front seized power 
from a Hutu-led government, was most critical of 
what he called unnecessary delays in starting war- 
crimes tribunals against the Hutu extremist leaders 
who orchestrated the tribal slaughter last spring Lhai 
claimed some half a milli on lives. More than six 
months since the killings began, UN officials say 
they are still investigating and have so far given no 
firm date for establishing the promised tribunals. 

“We thought that the international court should 
be set up as soon as possible.” Mr. Twagiramungu 
said. “Most of the criminals are now wandering 


around the country. Others are in Europe under 
disguised names. Why do we have to beg for the 
international court to be set up?” 

His sentiments echoed those of other senior offi- 
cials who are growing impatient with the United 
Nations and are vowing to set up their own courts to 
try suspected war criminals. 

“Given the foot-dragging by the UN to establish 
courts, we are left to think that maybe there is a 
powerful force manipulating the international com- 
munity, with the consequence that the Rwandese 
people will feel betrayed," said Major Wilson Ru- 
tayisire, director of the government’s information 
office. 

He said the Rwanda Patriotic Front had already 
turned over to UN investigators sufficient evidence 
to begin some trials, including tape recordings of 


prominent politicians in the old government inciting 
Hutus to take up aims against the Tutsi minority 
and documents detailing how arms were distributed 
to militias responsible for most of the carnage. 

“If there are no trials instituted, it will be difficult 
to have reconciliation here.” Major Rutayisire said. 
“People who have lost their wives, their children, 
will resort to other means of revenge." 

Like other government officials interviewed this 
week, the prime minister said he was particularly 
annoyed by recent accusations that the new govern- 
ment’s soldiers had committed reprisal killings. He 
did not deny that some killings had taken place, but 
he said the numbers were not nearly as large as 
alleged in a report prepared by a consultant for the 
UN High Commissioner for Refugees. 


Scholar Says He Feared 
His Arrest in Singapore 




5 

» '■ 
and 1 


v i jvtt.* 

i: s«a»p 

; »;•. <£ 
V ;.*:fcN« s 
. : .. -vx* 


>«• •« ,t 

.f . I - ;::,-. 

&"• ' • ... U .i-1 VS* 

4r V’ s**? 

f 0* , . . . — "r: 

i » *■ ' * ... U’- 

I 

... _ i. . 1 1 . 


.m'A?' W 
W 1 lliO';'' ,* 

i . 


Coupdetl ty 0» Staff Front Dispatcher 

ATLANTA -—An American 
scholar who left Singapore after 
being questioned by the police 
about a newspaper article in 
which he criticized unidentified 
Asian governments returned to 
the United States on Friday and 
said he had feared that he might 
be arrested. 

Christopher Lingje, who ar- 
rived in Atlanta - eariy- Friday, 
said, “ThejLgaveineno indica- 
tion it was- anything more than 
a routine inquiry." But, he add- 
ed, “when one is the subject of a 
police investigation, the dread 
of the uncertainty is always 
there.” 

Mr. Lingle, who has been 
inching European economics 
at the National University of 
Singapore since September 
1993, wrote an article that was 
published Oct. 7 in the Interna- 
tional Herald Tribune. 

His commentary, headlined 
“The Smoke Over Parts of Asia 
Obscures Some Profound Con- 
cerns,” was critical of regimes 
in the region. 

Mr. Lingle, 46, said he was 
interrogated by the police for 
about two hours Monday and 
again for two hours Wednesday 
at his home in Singapore. 

No charges were filed, but 
“they were trying to establish 
whether or not there was a ba- 
sis” for charging him with crim- 


inal defamation, he said from a 
relative's home. 

The U.S. State Department 
said Tuesday that it appeared 
the Singapore government was 
trying to harass or intimidate 
Mr. Lingle. In Singapore, the 
Foreign Ministry rqected that 
view in a statement issued Fri- 
day. 

“We are surprised that the 
U.S. State Department has seen 
fit- to comn»enu>n4hecase,' , the 
ministry said. It said that Mr. 
Lingle was being investigated 
for posable contempt of court 
and criminal defamation, “sole- 
ly because of his comments on 
the judiciary." 

Mr. Lingle left Singapore af- 
ter requesting a seven-day com- 
passionate leave from his teach- 
ing duties because of the poor 
health of his father in Atlanta. 

He said that he had informed 
the U.S. Embassy and his attor- 
ney that he was leaving, but that 
the police did not return his 
phone calls. 

“I left all of my household 
goods and possessions," he 
said. “I came only with my 
briefcase and overnight bags.” 

He said he was not sure 
when, or if, he would return. 
“When I left, it was understood 
that I would return. I’m consid- 
ering my options." 

(AP, Bloomberg) 


We can’t 

keep on meeting 


vi.*. l-j.. I •• -1 




|M* «»»■*» 

s» »*• b*-‘- 

i hi* *•'- - 


‘ -I 

:V 'i 

* i 'j; 

i-" 


Singapore's Civil Servants 
Will Get Big Pay Increases 


EPMONE E L)F?£ f 


i >• !• 


The Asacwwd Press 

SINGAPORE — Singapore 
said Friday that it planned large 
salary increases for ministers 
and civil servants in an effort to 
maintain competence levels. 

A comprehensive package 
puts the new salaries at levels 
nearly as high — or in other 
cases as much — as those given 
by private companies to their 
top executives, state television 
said, quoting a set of govern- 
ment recommendations. 

“We must have competent 


and honest people in the civil 
service.” Prune Minister Goh 
Chok Tong was quoted as say- 
ing. 

Mr. Goh will submit the rec- 
ommendations to Parliament 
on Oct. 31, where it is unlikely 
to meet any opposition. The 
new pay scales wiQ be effective 
July. 

Minis ters will now get about 
810,000 Singapore dollars 
(S558.620) a year, up from 
about 776,000 dollars, accord- 
ing to the recommendations. 


In planes. In hotels. In the street. Oh it’s exciting every time 
we feel your hands on us, your eyes on us. And we know it 
does something special for you as well. Couldn’t we see if we 
can turn this into something more serious? Here’s an offer 
that should make us irresistible - the International Herald 
Tribune for three months, or even a year, for as little as half 
the newsstand price! So fax or mail the coupon now. 

New Subscriber Offer 


Mail or fax to: International Herald Tribune, 

1 81 , avenue Charies-de-Gaulle, 92521 Neuilly Cedex, France. 

For full information: Fax (+33-1) 46 37 06 51 


« •“ 


FLOWER & STILL LIFE PAINTINGS 

OF THE 17th CENTURY 
14 - 29 OCTOBER 1994 



' 

iff* *** ; ‘ 

‘ ' ' 

m v 9 : ' ' 

m . 

4 • - 

m? vr " 1 





Ivut Sorvuu ( IfrfU-Hanau-uiwr 163X) 

Siill life with (mils & hunch «*f flower.. C*ppcr. .12 k 1 cm 

DEJONCKHEERE 

: j<X) Rue Uu FaubtHirg Saint-Honorc, 75008 Pari> 
wU 1 33- 1 1 42 66 69 49 - Fax: 42 hft 13 42 
from 10:30 a.m. m 1 p.m. 


Country/Currency 

12 months 
+2 months 
FREE 

% \.‘ 
SAVINGS 
tori year 

3 months 
+2 weeks 
FREE 

Austria A. Seri. 

6,000 

: 37 . 

1,800 

Belgium 

B. Fr. 

14,000 

sp . 

4,200 

Denmark 

D.Kr. 

3,400 

" 33 . 

1,050 

France 

F.F. 

1,950 

40 

590 

Germany 

D.M. 

700 

• 32 

210 

Great Britain 

£ 

210 

32 ... 

65 

Ireland 

£lrl. 

230 

• 37 

68 

Italy 

Lire 

470,000 

50 ■ 

145,000 

Luxembourg 

LFr. 

14,000 

36.:. 

4,200 

Netherlands 

FI. 

770 

40 

230 

Portugal 

Esc. 

47,000 

38 • 

14,000 

Spain 

Ptas. 

48.000 

34 ■ 

14,500 

- hand deliv. Madrid 

Ptas. 

55,000 

. 24 

14,500 

Sweden (airmail) 

S.Kr, 

3.100 

34. . . 

900 

-hand delivery 

S.Kr. 

3,500 

26 

1,000 

Switzerland 

S.Fr. 

610 

• . 44 

185 


Yes, I want to start receiving the International Herald Tribune every day. 

The subscription term 1 prefer is (check box): 

□ 12 months (+ 2 months free). 

□ 3 months (+ 2 weeks free). 

□ My check is enclosed (payable to the International Herald Tribune). 

□ Please charge my: □ American Express □ Diners Club □ VISA 

□ Access □ MasterCard □ Eurocard 

Credit card charges will be made in French Francs at current exchange rates. 

Card No. 

Exp. date Sig nature 

For business orders, please indicate your VAT number 

{(HT VAT number: FR 4732021 1261} 

□ Mr. □ Mrs. □ Ms. 

Family name 

First name 

Mailing Address: □ Home □ Business 


□ Business 


City/Code. 


.Country. 


22-10-94 


Heralb 







rtimne. 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 








Page 6 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 22-23, 199* 


ART 


Mannheim Show Recasts 'New Objectivity’ 


By David Galloway 

M annheim — 

For those German 
artists who sur- 
vived the horrors 
of World War I to confront the 
degradation and deprivation 
that followed, the old painterly 
isms seemed effetely self-indul- 
gent 

Rejecting the abstractionist 
tendencies of Expressionism, 
artists like George Grosz and 
Otto Dix insisted on a return to 
representational subjects drawn 
from everyday life. “Paint what 
exists.” Grosz wrote in his diary 
in 1918. “Seize speeding time 
itself. Clarity that pains.*' Bap- 
tized by the fine of trench war- 
fare. they insisted on objectiv- 
ity, on bearing witness to the 
excesses and injustices of the 
Weimar Republic, but also to 
the banalities of everyday ur- 
ban life. 

The city, with all its glamor 
and misery, provided them with 
seemingly inexhaustible sub- 
jects. The banker and Lhe beg- 
gar. the prostitute and the crip- 


pled veteran, the transvestite 
and the trapeze artist were the 
players in their pictorial tab- 
leaux. So, too, were the gaunt- 
eyed children encountered in 
Berlin and Munich and Ham- 
burg, selling matches, violets or 
their own todies. 

Grosz and Dix were fascinat- 
ed, above all, by the seamy side 
of modern urban life, while 
chroniclers like Karl Hubbuch 
could evoke a gentle poetry 
from the commonplace. De- 
spite the stylistic extremes, all 
saw themselves as social com- 
mentators. 

The representational impulse 
or these years was summarized 
in an exhibition organized by 
the Mannheim Kunsthalle in 
1925 under the tide “Die Neue 
Sachlichkeit." 

The “New Objectivity” was 
represented bv 124 works from 
32 artists whose themes and 
styles were so diverse that they 
appeared to have little in com- 
mon beyond the return to liter- 
al, recognizable subjects. 
Worlds seemed to separate Ru- 
dolf Schlichter's depiction of a 




1 AMSTERDAM 

PARS M> 

I HAE&JE CLAES d 

I Fed Dutch Coduna Open from lunefi unti 
fl mdrichl 0pur.tioa| , Z75 

| Id Pj-lVOOg Ecsovcrfoni recommontfed 

j$ AS (rcqcf crrtfc anfc 

YUGARAJ 

Hded as hot Indian resfcwrpnt m Frtree 
,4 

PARB7A 

| NKJIU.r-54JR-5BNE 

thoumieux 

Specialities ol the SoulhWejl Confil de 
ccuod Aoaioiietai co«A do 

randrtwned Open ewrwfav oril mdmgW, 

79 me Si-Donmiguo W (1} 47 05.4975 

Necx Termind. 

| JARRASSE "eSSS? 

I fwbcdredW' sp«VAta. Fesh daij)r drf-ery. 

1 \fcnj IW F iWrt- braes b I^.Vda perimq 

1 '“VscdSeMov wwiq i.ove o>Mmna 

R Tel |1|J4ii07 56 Far. (1] to S8 35 60 

PARS 8fh 

1 PAfUS 1st 

LE TEXAN 

Beil termex in fartfiOO V Urcne iteok. 

1 f ADD'S BUSH 

B 3 RESTAURANT BAH 

B hcreh/Yiih ojiiov: iyyfLrii TJT 

I Can .-•'7 IN MM. CARRj EAR 6 NEVIS FAR 

B ! fuedu Men Ihdn Id 4;/OM2S 

PARS I2fh | 

| PARTS 2nd 

tADSTUBUE 

Yra ww *HAUT URT. fa e«« neeengj ii ftWk 

Run detlwy. bw. cot***, ee peom. 

11 OJn.-2a.in Oned Suiday 

50 me du Fg SaniArtsne Tel 40019900 

I AUX LYONNAIS 

B Trcdit -W kntio cooling in oiAente: 1 <J 00 

1 dr--.r* Eicallcni wines & mmeid wotors. 

1 72 wo* M** U [1)42 96 65 04 

PARS I5th 

S LA VILLA CREOLE 

B The best refrned Creole online in Para Piono 

B in the evening SpedrAhes > red snappen. 

1 sK»i. 1°. nreJAntn Td.47 4264 9Z 

LETOfT DE PARIS 

Dance Panes every Setordcy ngN 

Bepaws on io* Sax 

fecMwig a juperb view of Are 

ciyand lhe E#M Tamer. 
ff295ind dinner & dan&g. 

PwoHJicti lB.ov Soften Tel .42/39200 

1 PAfUS 4tb 

| NED KELLY’S AUSTRALIAN BAR 

| BuZetprool amvsw b» ide. mjnw 

B 8. iwdes Ecnufa. Enem EaeilftjJ) 

1 PARIS 6th 

PARS 17th 

| LE MUNI CHE 

1 The Brasterie of the 20V 

8 &«jdrtws cj’slmw. "dioiicioiiw’. 

a leaked Open e^ery 4ay. '/rd 2 o ift 7. rve 

1 ■ Sat^Eenori. Fmng 5» GermamdesTfe. 

| - Td 4?6! 1270 

ALGOLDENBERG 

Mh*s herings • P«hani I- 1 Oeam «*e«e bowl 
and la* homemade • 0*»e aie 8 al me 
nod. Jewish spec 69 Av de Wagram 

W 4227 J4 79. Ewry day upto michgito 

CHEZ FRp) . . 

Ormdfiwaldbifa'ifrwpfPftb ; 

| - -NEW FUR5TENBERG 

I American reskwrort of 30‘s 

| Toco GooraixAf. TSon® . W» Lmch met v 

B SB ff 7 days and '«eefr from 3 a m la 2 
| a m roang St Ocrmamdesflfc. 22. we 

8 GuAart* ApoPmare. Td 11} 42 86 0088 

VXHMNA 

KERVANSARAY 

TorUih S Wl specialties, lobster bar. brat 
leofcod resknirani. Ill Boor MaHw’A9. 
Tel.: 5128843. Air conditioned 80m 
Opera Noo«>3 pm 86 pm-lam, iscepr 
Sunday Open hohdays. 

I LE PETIT ZINC 

| Fat >nn Eql'ie Su>nnmnde»J , r» Ttodinan J 

B ciul'ne irccd value rgr Mentioned 

B in c.orv guide 1 1 nio Soirit'Senoii 

1 W 44 33 5 1 1 W Cuen every do)n/“3 20) am 


riot in a brothel and Alexander 
Kanoldt’s still-life of a potted 
rubber tree plant as a near-com- 
ic symbol of bourgeois propri- 
ety. 

Yet for all its schizophrenic 
tendencies, the Mannheim exhi- 
bition entered the annals of 
20th-century art, and “Neue 
Sachlichkeit” has gradually 
metamorphosed into that which 
it never was: a consistent and 
self-conscious “movement” 
along the lines of Expression- 
ism or Surrealism. It was, at 
best, a tendency of the time. 

W ITH its current ex- 
hibition (until Jan. 
29), the Mannheim 
Kunsthalle is re- 
calling its own past glory, but 
the current exhibition of “Neue 
Sachlichkeit'’ is by no means a 
historic reconstruction. For 
that kind of reprise, far too 
many pictures were destroyed 
or disappeared in the National 
Socialist purge of German mu- 
seums. Furthermore, the Mann- 
heim curators rightly ask who 
was overlooked in the original 
show and how the nomnove- 
ment developed after 1925. 

With 256 works from 66 art- 
ists, they have doubled the size 
of the original show and provid- 
ed a fresh context for near-for- 
gotten achievements. Among 
the notable discoveries is Carl 
Grossberg, whose coolly prease 
renderin g s of giant machines 


prefigure the photorealists of 
the 1960s. And Jeanne Mam- 
men's depictions of Berlin's les- 
bian subculture reveal one or 
the great graphic talents of her 
generation. 

Yet if a single picture pro- 
jects the quintessence- of the 
“New Objectivity,” it is Chris- 
tian Schad’s still-startling self- 
portrait. 

It shows the artist, wearing a 
skin-tight, transparent shirt, sit- 
ting on the edge of a bed and 
staring at the viewer with a mix- 
ture of indifference and dis- 
dain. Behind him, propped 
against the pillows, is a naked 
woman whose dose-cropped 
hair identifies her as one of the 
“liberated" modern women of 
the Roaring ’20s: Schad's 
equivalent of Hemingway’s 
Brett Ashley. Though they have 
obviously shared the same bed, 
there is neither warmth nor inti- 
macy here, and the orchid that 
juts into the picture is no more 
romantic than the smokestacks 
visible through the curtained 
window. 

In this and s imil ar studies of 
urban malaise, Schad wielded 
the painter's brush like a sur- 
geon's scalpel. The chilling ob- 
jectivity that results has more 
than coincidental parallels to 
Hemingway’s “plain style," for 
both were colored by the shat- 
tered idealism of World War I. 
And a number of Hemingway* s 
early stories appeared in Ger- 
man translations during the 


1920s. Their objective tone and 
the mood of irrevocable loss 
perfectly suited the Zeitgeist 
which Schad documented. 

Ironically. Schad was not in- 
cluded in the original Mann- 
heim show. He was in Zurich ax 
the time, dabbling with Dada- 
ism and performing photo- 
graphic experiments that he 
dubbed "Scbadograms." If only 
to correct that initial omission, 
the current reformulation of the 
“Neue Sachlichkeit” show was 
long overdue. 

In its painterly precision and 
discomfiting “message,” 
Grosz’s masterful portrait of 
the writer Max Hernnaxm- 
Neisse is a chilling commentary 
on the attitudes of this painterly 
generation. The half-crippled 
poet is virtually caged by the 
chair in which he sits, staring at 


a blank wall, and the chair's 
flowery upholstery seems to 
mock any striving for aesthetic 
grace. 

The man of vision, Grosz 
seems to say, is trapped in the 
bourgeois parlor like some im- 
probable, Kafkaesque insect. In 
the spirit of what is sometimes 
termed “the new naturalism,” 
Grosz depicted a society teeter- 
ing toward holocaust. “I drew 
and painted to convince the 
world it was ugly, sick and hyp- 
ocritical” the punter wrote. 

Perhaps the most sobering 
lesson of Mannheim’s ambi- 
tious, inconsistent, provocative 
show is simply this: that the 
world did not listen. 


David Galloway is an art critic 
and free-lance curator based in 
Wuppertal, Germany. 



Still life by Franz Leak, at the Mannheim show. 


auction sales 


i: 


IN FRANCE 

DROUOT RICHELIEU 

9. Rue Drouot, 75009 Paris -TeL: (1) 40 00 20 20. 

• Friday, October 28, 1994 • 


Room 7 at 2 ©.m. - FURNITURE AND OHJETS D'ART. MILION 
ROBERT. IQ. rue tie b Grunge Bmeliere. ~5<X>9 PARIS Tel : U> 
48 00 99 +i - Fax; it > 48 00 78 . 

Friday, October 28, 1994 — 

Room 5 at 2.15 P-m. - COLLECTION OF OLD MASTER DRAWINGS 
FROM A BELGIUM COLLECTOR IN THE W*. Expert: M.B. de 
Bayser ADER TAJAN. 3“ rue de-r Mallturins, -:*006 FAR1-V Tel.: ft) 
St 30 30 - Fax: tl> 53 30 30 31 In YORK p ease ennwet 
... . - . *.l fift], fV#ir. N.i 


Ketrv Muisonniuce & Co. inc. It> Ensi u5th Street 
10021. Phone: (212) 737 35 97 / 737 W 13 - Fax: <21 


12) Wit M3*. 


37 rue des Math mins : 

75008 PARIS. 






TEL (33.1) 53 30 30 30 
FAX: 133.1) 53 30 30 31 

HOTEL GEORGE V (Salon “Vendome”) 

31, avenue George -V, 75008 Paris 
Tuesday, October 25, 1994 ; 

At 2.30 p.m. and 8 p.m. - Pr;inc‘«i-* ! CHARLES-KOUX 
COLLECTION. AMBASSADOR OF FRANCE, BELONGING TO 
Mrs Edmund* CHARLES- ROUX DEFFF.liRE At 2-30 P-OL, 
CERAMICS AND PORCELAIN - OBJF.TS D ART AND 
FURNITURE. At 8 p.m., ISLAMIC ART - l°tli Cent. 
DRAWINGS AND PAINTINGS - OLD MASTER PAINTINGS. 
Experts: MM G. LeMure, .1 Saint-Bris. Lucie n Arc««dte, F. 
Bailie, E. Turquin. On view jt Hotel George -V is.ilnn 
■V'endome’). Saturday. Ottolier 22. from 3 p.m. 10 K p.m. - 
Sunday, Odulwr 23, 1mm 2 p.m. lu R p.m. - Monday. October 
21. Trim 11 a.in. to « p.m. ADER rue <jcs 

Mmhurins, 7S00H PARIS. Tel: U) 53 30 30 30 - Fax: M> 53 30 
vi *1 in NEW YORK please cnra.ui Kefty Mifcnnmuge & Co. 
Inc* 16 East ijStli Strecl. fifth lluur, N.Y. 10021. Plione: <2121 
737 35 97 / 737 3H 13 - Fax: <21 2) SOI U > 1 . . 



Grosz s portrait of the writer Max Herrmann-Neisse is among the paintings in the “ Neue Sachlichkeit exhibition. 


RELIGIOUS SERVICES 


AMSTERDAM 

CROSSROADS INTERNATIONAL CHUR- 
CH Irterterorawlnnol & Evangelical Stxv 
day Service 1000 ajn. & 1130 am/ Kris 
Welceme Dc Cuseretraal 3. 5. Amstenbm 
h*). W940-15316 Cf 02503-41399. 

PARI5 and SUBURBS 

EMMANUEL BAPTIST CHURCH. 56 Rue 
d«’s Bons-R.w-ms. Rueit-Malmoson. An 
EvawyrtaiJ church lot the Engfch speakng 
iTRimumlv toc.ilod in lhe ivesiem 
ni.i.irt.-'. SS. *45. Worehfr 10-45. CNHren‘0 
CJurrcfi and Nmwiv v«ah raretnes Dr. B.C. 
Thomas, p.mof. Call 47.51.29.63 or 
47 4? 152-1 hr rtumalioa 

H?r= If -JTE RN AT ION AL CHURCH (Evan- 
QrSe.il) Sun am. Hotel Orem Metro 1 : 
EiitLitvvIjf- r|o La CV-donac. Tel : 47 73.53.54 
o- -;t 75.14 rr 

THE SCOTS KIRK IFRESBYTERIAN1 17. 
rue Buvvd, 75C0S Pure. Metro FD Roose- 
vel Fonblv wwo & SirvtiV Sctxxi at 1030 
a m. every Sundav. All welcome. 
For rfomutexi 49 78 47 94. 

SAINT JOSEPH'S CHURCH {Roman 
Cjihobc). ILItthk SukLw: 9:45 nn, 11:00 
am . 17:15 p.m . and 630 pm. Saturday: 
1 1 .t» a m. and 6 30 pm. Mond.iy-fndav' 
h 30 am. 50. avenue Hoche. Pans 8th. TeL 
SZ272056. fltto entries de Gauto ■ Etofe. 

MUNICH 

LVTERNATTONAL COMMUNITY CHURCH. 


r.) 10691 1 

SALZBURG 

BE RE AN BIBLE CHURCH In Berea. 'They 
f.earchod Iho scnpiures dadv" Ads 17:1 1. 
Evintefcal Ertgfefi WHv>ce .U 1030 a mvvth 

Pa'j£4 D.wd Fran: Josef Strasse 

23 For irfc-cafl 43 (01 662 455569 

TOICYO 

ST. PAUL INTERNATIONAL LUTHERAN 
CHURCH, near Wabasrt Stn. TeL: 3261- 
WcrehpSttvce 1 ; 030 am SuxJays 

TOKYO LMON CHURCH, near Omctesan- 
do subway sta. TeL 3400-0047, Wwdiip 
r.^rvcis Sunday 8‘30 & IllOO itTL, SS » 
crJSam. 

USA 

H \wuri B«o a free Stole entree tv mat, 
please ctrlaa- LTGUSE de C HfttST. P.O- 
Box 513. Slaifftn. mdfcna 47881 USA 

VIENNA 

VIETWA CHRISTIAN CENTER; A CHARIS- 
MATIC FELLOWSHIP FOR VIENNA’S IN- 
TERNATIONAL COMMUNITY. - English 
Urnuage " Trara-denomrufanal. meets d 
HifrmKe 17. 1CT0 Viema. 6fl0 pm Every 
Sunday. EVERYONE IS WELCOME. For 
rnpre mt«-rrnwi cal 43-1-318-7410. 


FRANKFURT 

CHURCH OF CHRIST THE KING {Epiaoo- 
paTAngScan) Sun. Holy Commuion 9 S n 
am Smttay School and Numery 10:45 am. 
Sebastian ftnz SL 22. 60323 Ftar**r. Ger- 
many. U1. 2. 3 Miquel-Afflee. Tal: 49/69 
5501 84. 

GENEVA 

EMMANUEL CHURCH Id, 3rd & 5tt) Sin. 
TO am. EuchaB 8 2nd & 4th Sun. Momng 
Prayer. 3 rue de MonthoiK. 1201 Geneva. 
Swtw»and.TeL41S2732aO 78. 

MUNICH 

THE CHLffCH OF THE ASC3VSKXJ, Sin 
11:45 a.m. Holy Eucharist an d Sunday 
School Nurcery Care provried. Seytrthdras- 
se 4. 01545 Munich (Harteching). Qermwiy. 
Td: 4989 64 81 85. 

ROME 

ST. PAUL'S W1THIN-THE-WALLS, Sun. 
8-50 am. FUy Eucharist Rle 1: 1030 am. 
Choral Eucharist R4e U: 1030 am. Church 
School tor chlWnsn & Nursery care provided; 1 

p m Spanish EuchansL Via N^M* 50.0018* 

Rome. TeL 39/6480 3339 or39S 474 3569. 

BRUSSELS /WATERLOO 
ALL SAINTS' CHURCH 1st Sun. 9 S 11:15 
am. Holy Eucharist wlh CNtten's Chapd d 

ll:i5.AJolhBrSwiclays:ll:l5am.Hc*)rEii- 

durist and Suiday School 583 Chaussfe de 
Louvari, Ohah, Betgun. Td. 32/2 38*3556. 

WIESBADEN 

THE CHURCH OF ST. AUGUSTINE OF 
CANTERBURY. Sun. 10 am Fsrihr Eucha- 
nst Frankfurt^ Strasse 3. Wiesbaoen. Ger- 
many. TeL 49B1 130.66.74. 


EUROPEAN 

BAPTIST CONVENTION 


BARCELONA 

FAITH FELLOWSHIP INTERNATIONAL 
me«sal9fl0am..BonaNwaBaF*istCfiu- 
di Carrer de la OuU de Baflaguer 40 Pastor 
Lance Borden. Ph. 433*159. 

BERUN 

INTERNATIONAL BAPTIST CHURCH. 
BERLN Rdhenbug Sir. 13. (Sleepy. Btole 
study 1045. woreftp d 1200 each Suway. 
Charles A Warlord. Pastor. TeL 030-774- 
4670. 

BONN/KOLN 

THE INTWNATIONAL BAPTIST CHURCH 
OF BONNKCLN. Rheinau Strasse 9. KWl 
WorehD 1K» pm. Cdvin Hogue. Pastor. 
TeL: (022361 47h21. 

BRATISLAVA 

JozfipKJack,Tet31 6779 

BREMEN 


BULGARIA 

INTERNATIONAL BAPTIST CHURCH, 
World Trade Center. 38. Drahan Tzantov 
BKri. Worship 11:00. James Duke. Pastor. 
TeL 704367. 

CELLE/HANNOVER 

INTERNATIONAL BAPTIST CHURCH. 
WirrimJen Strasse 45. Celle 1300 Worship. 
1400 Btole Study. Pastor Wert Campbell. Fn 
(05141)46416. 

DARMSTADT 

DARMSTADT/EBERSTADT BAPTIST MIS- 
SION. Btole study & Worshp Suiday 1030 
am Stadlrrtsdcfi Cta^beretadL Boeschelsir. 
22. Btole study 930. worship 10:45. Pastor 
JtnW&b. TeL 061556009216. 

dOsseldorf 

INTETWAnONAL BAPTIST CHURCH. En- 
glish. Worship and CWdren's Church Sun- 
days at 1230 pm Meetiig temporarty 31 toe 
Evar» 2 tech - FrcJachfche Gemande n Ra- 
tingen. Germany (Kaberberg 11). Friendly 
Feflowship AJ denomiratrons welcome. For 
lurtfier Wbrniatton cal the pastor Dr. WJ.De 
Lay. TeL 021 1-400 157. 

FRANKFURT 

INTERNATIONAL CHRISTIAN FELLOW- 
SHIP Evangefesch^reMrcliiiche Gemetode, 
Soderwrar. 11-18, 8380 Bad Hontwg. pho- 
nePax: 06173-62728 serwng the Frankfurt 
and Tauius areas. Gamarry. Sunday w ■ 
ship 09:45. nursery + Suwyediool 1030. 
women’s btole studies. Hcusegroups - Suv 
day + Wednesday 1930. Pastor M. Levey, 
member Ewopeen Bapfci Conwraton. De- 
dare His amongst toe ratkm’ 

BETHEL INTERNADONAL BAPTIST 
CHURCH. Am Daehsberg 92, FtarMurt aM. 
Smdayworshp 1130 am and 6.00 pm, ft. 
Thomas W. ha, pastor. TeL 069649558. 

HEIDELBERG 

GRACE INTERNATIONAL BAPTIST 
CHURCH. Industrie Sir 11. 6902 Sanrtiau- 
sen Btole study 09:45. WwsNp 1130. Pastor 
drh. TeL 06224-52295. 


ZURICH - SWITZERLAND 

INTERNATIONAL BAPTIST CHURCH of 
WManswi (ZQnch), Rosenbergstr. 4, 8820 
WSdensvA Worehip Services Sunday mu- 
ntogs 11 30. TeL: 1-724 2882. 


ASSOC OF H^TT CHURCHES 
IN EUROPE &MH3EAST 


rm 

i§^ 


CHRISTIES 

SWIRE 


Pati HenObc ' 


HOLLAND 


THE EPISCOPAL CHINCHES 
OF EUROPE (Anglican) 


PARIS and SUBURBS 

THE AMERICAN CATHEDRAL OF TVC HO- 
LY TRINITY. Sun. 9 8 11 am. 10:45 am 
Smljy 5chod fry dMim and Nursery care- 
Third Sunday 5 p.m. Evensong. 23. avenue 
Gecroe V. Faro T5008. T?L 33h 47 20 1 7 92. 
Mebrr George V or Nero Marceau 

FLORENCE 

ST JANES CHURCH, an 9 am Rto I & 
u a.m. Rile II. Via Bernardo RuceSai 9, 
5331 23. Ftorenoe. Italy. Tel: 3965 29 44 17. 


Hernmvflose-ar. (arCHaritheamKfrom 
the Bafntol) Sunday worahy 17--00 Emefl 
D. Water, paflor. Td 0479M 2077. 

BUCHAREST 

INTERNATIONAL ^PDST CHURCH. 
Sirada Popa ftosu 22. aCDpm. Contact Pas- 
tor Mte Kemper. TeL 312 3880. 

BUDAPEST 

INTERNATIONAL BAFIT ST CHLgl CH 

meetstoMor»Ztol^Gn™aJ^T^. 
rokvesEU48^4.Sarioy?- 1030 Cows ra- 
'""oidw.Tflk 


kwshp. 1030 Worship 

Bathyanyter.Otoer 

BobZWrisi.TeL2! 


fake Bus 11 from 

LcaSPador 


TRNTY BAPTIST S-S- 930. WorZwp 103a 
nursery, warm fellowship Meets at 
Bloemcamptoan 54 in Wassenaar. 
TeL01751-78CE4. 

MADRID 

IMWANUEL BAPTIST. MADRID. HERNAN- 
DEZ DE TEJADA. 4. ENGLISH SBWtCES 
11 am.7pm.Td: 407-4347 or 3023017. 

MOSCOW 

INTERNATIONAL BAPTIST FELLOWSHIP 
Meeting 1100; Kmo Carter BuMng 15 Diuz- 
□rudiiinkowtoi^UL 5#t Floor. Hal 6, Mtto 
SfctoiB*rto4iaya Pastor Brad Stameypn. 
(09511503293. 

MUNICH 

INTERNATIONAL BAPTIST CHURCH OF 
MUMCH. HoCstr. 9 Engfi3h Lan^iage Ser- 
vices. Btole study 16:00. Worship Service 
173a Pastor's phona 6908534. 

PRAGUE 

international Baptel ^ 

Czech Baplet Church Wndiradgka « 88. 
Prague 3. At rndro slop ^nhoz Pod^rad 
Sunday a.m. 11:00 Paslor; Bob Ford 
(02)3117974. 

WUPPERTAL 

international Bap^ChL^ Eng&^.Ger- 
man, Pwriaa WORhrc 1030 am -rSetesir. 
21 Wujpertal - Sbarteld. M denarrm^ons 
welcomeT Hans-Dtoiw Fraund. pastor. 
Td: 02084898384* 


BERUN 

AMERICAN CHURCH IN BERLIN, cor. ol 
Clay Alee & Prtsdamer Sir, SS. 930 am. 
Vtorehp 11 am. Tel: COM 132021. 

BRUSSELS 

THE INTERNATIONAL PROTESTANT 
CHURCH OF BRUSSELS. Suiday School 
930 am arri Church 10:45 am. Katwnberg. 

19 (at the Ini. School). Tel: 873.05.81. 
Bus 95. Tram 94. 

COPENHAGEN 

INTERNATIONAL CHURCH nl Copenha- 
gen, 27 Farwsrgade. Vartov. near RAdhus. 
Sludy 10:15 & Worship 11:30. Tel.; 
31624785. 

FRANKFURT 

TRINITY LUTHERAN CHURCH. Ntoetongen 
ABee 54 (Across Iran Burger Hosp«f). Sui- 
day School M0, worship 11 am TeL- (069) 
S99478 or 512552. 

GENEVA 

EV. LUTHERAN CHURCH ol Geneva. 20 
rue Vetdaine. Srnday worship 930. in Ger- 
man 1 1 30 n Engich. Td 10C2) 3103039. 

JERUSALEM 

LUTHERAN CHURCH rf the Redeemer. OH 
Oty. Mutaan Rd. Engfeh worship Sun. 9 
am Al are welcome. Tel. (ffi) 281 -049. 

LONDON 

AMERICAN CHURCH n London 79 Tot- 
tenham Cl. Rd. Wl. SS al 10.00 a.m.. 
Wdrehp at 11.00 am Goodge SL Mw. Tet 
071-5002791. 

PARIS 

AMERICAN CHURCH IN PARIS. Worship 
11-03 am. 65. Dual tfOsay. Pans 7. Bus 83 
al door. Metro Ahia^torceau or hvafides. 

STOCKHOLM 

IMMANUEL CHURCH. Worehp Christ in 
Swedish. English, or Korean 1130 am. 
Sunday. Birger Jarlsg. at Kungstensg. 
17. 46/08/ 15 12 25 x 727 lor more 
Woimsdion. 

71RANE 

NTERNATIONAL PROTESTANT ASSEM- 
BLY. Irtadsnominato-ia] & Evangeficd Ser- 
vfeas: Sin 1030 am. 5.00 pm. Wed. 500 
pm Rruga Mysriym Shyn. Tel/Fax 355-42- 
42372 or 23262 

VIENNA 

VIENNA COMMUNITY CHURCH. Sunday 
worship in English 11:30 A.M.. Sunday 
school, misery, rtemalionaL al denomlna- 
fions wefcoma Dorrtheer^sse 16.Viema 1. 

WARSAW 

WARSAW INTERNATIONAL CHURCH, 
Pi otes lart Bigish language expatnales. Sun- 
days li DO am (Sepl-fttey), 10 am. (Jire- 
Aug.l: Sunday School 955 (Sept-Mayl UL 
Kfiodowa 21. Td: 43-29-70. 

ZURICH 

INTERNATIONAL PROTESTANT CHURCH 
Engfcsh speaking, wortehlp servtea, Sunday 
School & Nursery, Sundays 11:30 am, 
Schanzengasee 25. Tel; (01) 2625525. 



.4 magnificent Early Ming Blue and While Euvr, Yongle, 

W \in. < 36.5cm) high Estimate: HKSS, 000, 000- JO. 000, 000 

IMPORTANT SALES OF 
CHINESE ART IN HONG KONG 

Autumn Auctions 1994 at the 
Hong Kong Hilton 
30th October 

Contemporary Chinese Oil Paintings 
Fine Chinese Classical Paintings & Calligraphy 
Fine 19th & 20th Century Chinese Paintings 
Fine Chinese Works of Art/Jade & Jadeice Carvings 

31st October 

Important Chinese Ceramics 
Magnificent Jadeite Jewellery Fine China Trade Pictures 

1st November 

Unmounted Diamonds Fine Jewellery Snuff Bottles 

2nd November 

Dr James B Whang Collection 
of China “Large Dragons" Stamps & Covers 
Fine Scamps & Covers of Hong Kong & China 

Viewing: 

The Hong Kong Hilton 27-31 October 1994 
10:00 a.m. - 6:00 p.m. 

Important Jewellery and Watches to be sold in Geneva 
will also be on show at the Hilton 

For fruitier information, please contact: 

Anthony Lin. 

Christie's Swire (Hong Kong) Ltd. 

' 5 804-6 Alexandra House. 16-20 Chater Road, Hong Kong 
Tel: (S52) 521 5396 Fax: (852) 845 2646 


BOOKS 


THE ABUSE EXCUSE: 

And Other Cop-Onte, Sob 
Stories and Evasions of Re- 
sponsibility 

By Alan Dershowilz. 341 pages. 
$22.95. Little, Brown & Co. 

Reviewed by 
Machiko Kakutani 

E RIK and Lyle Menendez 
admit they gunned down 
their parents as they watched 
television, but say they acted in 
self-defense after suffering 
years of sexual and emotional 
abuse at the hands of their fa- 
ther. After a six-month trial, the 
juries for both brothers dead- 
lock, unable to reach a verdicL 
Lorena Bobbitt slices off her 
husband’s penis while he is 
sleeping. Her defease argues 
she was suffering from tempo- 
rary insanity brought on by her 
husband’s abuse, and the juiy 
acqoits her of charges of mali- 
cious wounding 
Colin Ferguson kills six peo- 
le and wounds 19 others on a 
_ong Island Railroad train. His 
lawyers announce they plan to 
argue that he was suffering from 
a psychiatric condition they call 

“blade rage”: They contend he 
was driven insane by racial prej- 
udice and cannot be held ac- 
countable for his actions. 

Such “abuse excuses," as the 
high-visibility lawyer Alan 
Dershowitz argues in his pro- 
vocative book, have proliferat- 
ed wildly in recent years. 

There is talk, in courtrooms 
these days, not only of “battered 
persons syndrome* and “paren- 
tal abuse syndrome," but also of 
“chronic lateness syndrome,” 
“fan-obsession syndrome,” 
"meek-mate syndrome” and 
“urban survival syndrome.” 

People have tried to blame 
television, books and rock mu- 
sic for their actions; they have 
also tried to blame their par- 





til ' 


rj/mt 





rvtsm 






ipir 


s 





NEW AUTHORS 

PUBLISH YOUR WORK 
ALL SUBJECTS CONSIDERED 
Authors Wortd-wWa invited 
Write or send your manuscript to 
.. MINERVA PRESS 
I120LD BROMPTON RD. LONDON SW7af« 


ents, their lovers, often the very 
people they've killed. 

Certainly this phenomenon — 
in both its strictly legal sense and 
its broader cultural manifesta- 
tions : — has already been written 
about widely. Indeed, 
Dersho witz's book frequently 
echoes Charles Sykes’s 1992 
book “A Nation of Victims** (SL 
Martin’s Press), which in turn 
echoes lengthy articles that ap- 
peared in New York and Tune 
maga zines the previous year. 

For that matter, “The Abuse 
Excuse** is itself largely made ft' 
up of syndicated columns that 
Dershowitz has written over the 
last several years. 

The result is a somewhat 
sloppy compendium filled with 
repetitions and elisions and di- 
gressions. Some of the chapters 
(on, say, the John Demjanjuk 
case and the -In na than Pollard 
case) have little to do with 
Dershowitz’s main thesis, while 
other chapters (on the Menen- 
dez and Bobbitt cases, for ex- 
ample) feel overly compressed. 

One cannot help but wish 
that Dershowitz had taken the 
time to sit down and write a real 
book on this subject, instead of 
simply stringing together old 
essays. 

Still, some of these essays re- 
main remarkably prescient, and 
Dershowitz adds to their cumu- 
lative power by pulling his ar- 
guments together in a cogently 
reasoned introduction in which 
he analyzes the consequences of 
“the abuse excuse” for our soci- 
ety at large. 

The reader may not agree 
with all of Dershowitz’s argu- 
ments. He has a way of sound- 
ing self-serving when writing 
about cases or situations in 
which he has had a personal 
involvement, and the column- 
format of these essays occasion- 
ally leads him to make sweeping 
generalizations that he cannot 
possibly substantiate in a cou- 
ple of short pages. 

For the most part, however, 
Dershowitz’s writing is animat- 
ed by a fierce sense of logic and 
a large measure of common 
sense. For that reason alone it 
makes for lively and useful 
reading. 

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



M 



V. 


TO OUR READERS IN LUXEMBOURG 

'x ,f -*3 

It’s never been easier to subscribe 


and save. Just call toll-free: 

: V , , l 

U 800 2703 

v :.*"''** 



I 





Saturday-Sunday, 
October 22-23. 1994 
Page 7 





KX'M 



* 


,'.rx 

BOi >h> 


it 

v • - : - 

... 1- 

■ ,“V 

i- .*1 

s 

r*“" • ■ ’ 


jf Mr 

i 

•• 

, » \£‘ L 


> • • • 

1"^ 


. . r- . ' ' 

» ' * v - 
%u.. 

- >*!?’■ • 

... 


- 1':'' 
1 i 1 / 1 ' ,B 


5V: • L il irr* 

... . v t' '..oi- 

.. 

1 r 

i *; ■- ■ • ■ 

. v. 

1 


I Vi '• r- 

* ' c ’ " 

n* ‘ 


»»i; * -r . ; 

*i!» Jv V..' 


!»>**' ' 
If*- 1- ' *■’ 


1 4 • 


uB*£ 


|Q0 2/$* 


Portrait of a Neglected Artist 


By Roderick Conway Morris 

International Herald Tribune 

G REMONA, Italy — Sofonisba 
Anguissola, one of the most gift- 
ed and original artists of the 16th 
century, achieved during her life- 
time international celebrity and the admi- 
ration of fellow artists from Michelangelo 
to Van Dyck, only to sink subsequently 
into almost total obscurity. 

How this came about and how unmerited 
was her fate is illuminated by “Sofonisba 
and Her Sisters,” a fas cinating exhibition at 
the Cremona city cultural center (which 
runs till Dec. 11, then win go In 1995 to the 
Kunsthistorisches Museum in Vienna and 
the National Gallery of Women in the Arts 
in Washington). It is the first gathering 
together of her widely dispersed works. 

Anguissola was bam in Cremona, near 
Milan, in about 1535. The family was 
aristocratic, but in a precarious financial 
state — both factors that were to have an 
important influence on Anguissola’s career. 
Sofonisba, the eldest, was followed by sis- 
ters Elena, Lucia, Minerva, Europa, Anna 
Maria, and a single brother, Asdrubale. 

All the Anguissola girls were intelligent 
and talented, and the house was bursting 
with cultural energy and activity — this 
extraordinary family bringing to mind the 
Brontes at Howarth Parsonage. And in- 
deed, though the Anguissolas woe un- 
doubtedly more comfortably off, they suf- 
fered smiflar premature losses, the death in 
her early 20s of Lucia — a brilliant musician 
and, to judge by her canvases in the show, a 
painter no less skillful than her elder sister 
— bang a particularly tragic blow. 

In around 1543 her father, Amflcare, took 
the bold step, even in view of bis enlight- 
ened cast of mind, of sending Sofonisba and 
Elena to live with the painter Bexnadino 
Campi and his wife: Campi was a distin- 
guished artist, who had been trained by 
Ghtiio Romano, himself the pupil and heir 

of Raphael — so for three years Anguissola 
had the opportunity to study with a painter 
in the mamstream of Italian painting. 

Anri! care was assiduous in sending her 
wok to potential patrons in northern Italy, 


and her sett-portraits soon became much in 
demand at the courts of Mantua, Ferrara, 
Parma and beyond. When Michelangelo — 
an artist hardly predisposed to take an inter- 
est in the work of an aspiring woman artist 
— was shown an Anguissola drawing of a 
young girl laughing, he was not only struck 
by the quality of the draftsmanship, but also 
astonished by the subject matter and ex- 
pressed eagerness to see the artist tackle a 
“little boy crying — something much more 
difficult.” Anguissola obliged with a toddler 
nipped by a crayfish — creating the proto- 
type of many later pictures, including Cara- 
vaggio’s “Boy Bitten by a Lizard." 

M ICHELANGELO’S surprise 
at Anguissola's unusual 
themes ( the product, to a con- 
siderable extent, of social re- 
strictions} may seem odd now, but his 
reaction highlights a major facet of her 
originality. Painting always “from life,” 
Anguissola captured domestic scenes with 
such naturalness and vibrancy and with 
such acute but sympathetic observation 
that her pictures became a revelation to her 
contemporaries. And even 450 years later, 
wonderful compositions like “The Game 
of Chess" and her portrait of her father, 
sister Minerva and brother Asdrubale re- 
main breathtaking for their imm ediacy 
and freshness. Equally unusual is the man- 
ner in which Anguissola’s playfulness and 
humor manifest themselves in her art — 
the affectionate picture of her master 
Campi at his easel doing her portrait, 
which could be subtitled ’Sofonisba Paint- 
ing Campi Painting Sofonisba,” being a 
perfect example. 

This jeu d’esprit was probably one of the 
last pictures she completed before leaving 
for Spain in 1559, at the invitation of 
Philip n, at whose court she remained for 
14 years. Anguissola took her place in the 
queen’s entourage, and embarked on a 
series of remarkable portraits of the royal 
family, many of the most important of 
which, on loan from the Prado, figure in 
the exhibition. The Italian artist's techni- 
cal mastery was well up to the task, al- 
though the full-length portrait favored in 
Spain was a new challenge. 


Anguissola s lone stay m Spain and the 
elevated position she enjoyed at Philip’s 
court explain why her name later became 
obscured. She did not sign her work, and 
given her status it was unthinkable that she 
should be paid directly for her pictures — 
being rewarded instead with jewels, sump- 
tuous clothes and, in due course, pensions. 
Thus, for Anguissola the usual kind of 
historical documentation registering com- 
missions and payments, usually so vital in 
confirming datings and attributions, does 
not exist. Consequently, in time, almost all 
of her most outstanding works, despite 
their inimitable stylistic qualities, came to 
be attributed to other contemporary court 
painters — notably Sanchez Coello. 

Vivacious, cultivated, attractive and uni- 
versally admired, Anguissola never lacked 
suitors, but deftly avoided Philip’s efforts to 
marry her to some Spanish don, insisting 
that if she were to many it woldd have to be 
in Italy. A suitably aristocratic Sicilian was 
finally found, the king himself providing the 
dowry that Anguissola had always lacked, 
and in 1573 she went to Sicily. Within five 
years her husband lost his life during an 
attack by Barb ary pirates off CaprL 

With what was seen as unseemly haste 
Anguissola married the sea-captain son of 
a Genoese noble several years her junior. 
The match was vigorously opposed by her 
brother, the Spanish king' and the Duke of 
Florence — but Anguissola somewhat 
cheekily informed the duke that “mar- 
riages are first made in heaven and then on 
earth,” and, in any case, it was too late as 
the deed was done. Such was the regard in 
which she was held that Philip II nonethe- 
less continued to support her financially, 
and she continued to paint members of the 
royal house when they came to Italy. 

Anguissola was the first Italian painter to 
specialize almost exclusively in portraiture 
— a choice partly dictated ’by her sex and 
circumstances, but a genre in winch she so 
exceDed as to significantly expand its possi- 
bilities. And tins admirable exhibition — 
accompanied by a handsome and indispens- 
able catalogue edited by Mina Gregori — 
will surely win back for her at last her richly 
deserved place in the artistic pantheon. 



Self-portrait by Sofonisba Anguissola. part of a retrospective in Cremona devoted to the 16th-century artist. 


apies’s 


Narrow Line 


By Michael Gibson 

International Herald Tribune 


P ARIS— The art of An- 
toni T&pies has con- 
stantly walked the nar- 
row creative line 
between success and failure, 
matter and concept, the critical 
and the mystical, tte beautiful, 
and the rfgty7 Tins ts demon- 
stratedbyar^retix^pcctive of 70 
important works at the Jeu de 
Paumc (to Dec. 4), 

Born in Barcelona in 1923, 
the son of a devout Catholic 
mother and a father who was an 
equally dedicated atheist. To- 
pics could not help experienc- 
ing the fundamental spiritual 
contradictions of the age from 
childhood. He also witnessed 
the great dramas and mutations 
which have shaken Spanish so- 
ciety over the past half century. 

The contradictions within Ins 
family no doubt encouraged 
him to become unsectarian. His 
stance has been ethical rather 
than partisan, and his lifework 
ultimately achieved an artistic 
synthesis of seemingly contra- 
drctoiy views — most notably 
between philosophical materi- 
alism and mysticism. 

- T&pies’s singularity resides in 
his 1 ' han dlin g of the painted sur- 
face: IBs paintings are not repre- 
sentations nor even abstractions 
but, moat of the time, objects, a 
piece of reality and, quite specif- 
ically, a wall (the artist* s name is 


One of tfw Nation's 
Largest Private Collectors 

OCTOBER 27-29, 1994 
at the 

A. Emmett Barnes III Estate 
Hacon, Georgia, USA 

♦ 18th & 19th Century French 
and English Furniture. 

♦ Marble & Bronze Statuary. 
Ivory & Jade. 

♦ Boehm Porcelains. 

♦ Oriental Works of Art 

♦ Silver. 

♦ Paintings. 

♦ Aubusson Carpets. 

For brochure - 6I5/JZ2-9708 
Alfred A. Robinson Company 

Knoxville, Tennessee, USA 


one of a number of Catalan 
words meaning “walT). 

The works are often large (6 
meters long by 25 meters, or 20 
feet by 5.75 feet, is a favored 
scale), and made of a variety of 
materials of which the dominant 
one is a thick application of a 
paste of marble dusL This un- 
usual surface is smoothly spread 
like cream and as deeply scored 
as a schoolboy’s wooden desk. 

It is both appetizing (it can 
remind one of write frosting on 
a cake), and handsomely repul- 
sive, like an old wall be- 
smirched by time, soiled with 
refuse and urine, covered with 
weather-worn inscriptions and 
daubed with urgent, furtive 
symbols, the most frequently 
recurrent of these being a Greek 
cross. In this sense this “wall” is 
like a palimpsest of all human 
passions and hopes. 

Tapies's preference goes to 
soiled, shabby materials, an old 
blanket, a filthy feather duster, 
a piece of rope, straw, an old tin 
can. But there is a morality in 
his choice. One senses that 
when Picasso used a clipping 
from a newspaper to make a 
collage, his choice was primari- 
ly commanded by aesthetic 
considerations and that there 
was, in such a work, an affirma- 
tion of the artist’s power to 
transfigure the basest material 
and give it the dignity of art. 


T&pies, on the other hand, is 
lending a philosophical and 
moral dignity to some poor ob- 
ject by giving it such monumen- 
tal scope at a time of political 
(and moral) repression. It is 
easy to forget the way things 
were not so very long ago. In 
1 966, for instance, the artist was 
arrested for attending an unau- 
thorized meeting held .by stu- 
dents iB Barcelona. 

Topics was never concerned 
with shocking people. But inte- 
grating junk into a work of art 
was naturally shocking to the 
Philistine minds which then 
dominated Spanish society, and 
it made a statement about the 
way this regime was mistreating 
certain values that were crucial 
to the artisL Such a work drew 
attention to things that were 
despised and thus was in fact a 
way of saying “your values are 
notmine.” . 

Tipies, a thoughtful and culti- 
vated man, has been forced by 
circumstance to come to terms 
with theories and dogmas that 
have marked our century. Fran- 
co’s regime earned his hostility 
by its authoritarian repression of 
the Catalan lan gu a g e and its 
congenital inability to deal with 
artists. But when he moved to 
Paris in 1951 (be was 28 at the 



Museum Wing for Kids 


By John Russell 

Nr * 1 York Tima Sortie 


H UMLEBAEK. Den- 
mark — Copenhagen 
has great museums, 
and one of them, the 
National Museum, was voted 
European Museum of the Year 
for 1994. 

But in terms or attendance, 
the No. I museum of art in 
Denmark is not in Copenhagen 
at all. It is the Louisiana Muse- 
um, a museum of contemporary 
art that first opened in 1958 and 
is situated in a private park on 
the seacoast about 20 miles (32 
kilometers) north of the capital. 

From the outset. Louisiana 
was intended by Knud W. Jen- 
sen, its founder, patron and 
moving spirit, to be the very 
antithesis of the overbearing 
city museums of the late 19th 
century. 

Visitors were never to fed, as 
they sometimes do in encyclo- 
pedic museums, that they were 
in some way on trial and would 
almost certainly be found 
guilty. 

Wbat Jensen wanted, for 
young and old alike, was a dis- 
creet, nonthreatening environ- 
ment in which a great many 
memorable things would hap- 
pen and none of them would go 


Antoni Topics in front of one of his w orks. 


time), be was equally disappoint- 
ed by the Communists and their 
sympathizers. 

By the age of 30 he had found 
his own form. 

He had decided by then that 
beauty could only exist through 
a dialogue with the unbeautiful 
and the "anti-aesthetic” — and 
this aspect of his work makes it 
impossible to reduce it to mere- 
ly political terms. The mysteri- 
ous seductive force of his art 
resides in its ambiguity. And 
this ambiguity, as TApies has 
said, touches upon something 


central in human experience. 

Topics has constantly at- 
tempted to reach beyond the 
dreary opposition between the 
material and the spiritual — be- 
tween the materialist and spiri- 
tualist view originally signified 
by father and mother. This has 
led him to uphold a fertile para- 
dox: even if there is no “be- 
yond,” there is inevitably a 
transcendence, and one of the 
attributions of art is, in his 
view, the designation of this ex- 
istential riddle by every means 
at its disposal. 


on too long. Far from wanting 
to come on as a tyrant of taste, 
he once said that he'd “really 
rather like them to fed that they 
were paying a call on a stodgy, 
comfortable, slightly eccentric 
old unde." 

This applied especially to 
very young visitors. Louisiana 
has a large constituency — 
around 500,000. visitors a. year 
— but Jensen has always wor- 
ried about the children. 

It is his view that children are 
probably the world’s largest op- 
pressed minority. “They are 
usually bored in museums, even 
if they are loo polite to say so.” 
he said. “The genuine taste for 
an generally comes late — in 
their early teens — and it's 
quite a challenge to find a way 
of involving them earlier.” 

Last month he met that chal- 
lenge by opening Children’s 
House, a wing in Louisiana that 
is in effect a prdapsarian para- 
dise. “I want them to have fun 


in their own way,” he said, “and 
to fed that the new rooms really 
belong to them. 

“Now that every 4-year-old 
in the village can master a word 
processor,” he continued, 
“there are 12 small computers 
in a separate room. Every after- 
noon there is a voluntary story- 
teller, recruited from the grand- 
parents of the neighborhood. 
Out- of doors and beside the 
lake there' are slides, trees to 
clamber through and other 
boisterous diversions. There is a 
performance room at lake level. 
Real artists, and good ones, are 
working beside the kids. There 
is a tittle caffc of their own, so 
that they don't have to stop 
what they’re doing when they 
gel hungry or thirsty." 

The children can make sculp- 
tures with donated Legos. As 
for painting, there’s no limit to 
it, indoors or out. “You 
shouldn't be stuffy with kids,” 
said Jensen. 


New York, 8th November 1994. 

Impressionist and 
Modern Paintings, 
Drawings and Sculpture 


ART EXHIBITIONS 



FRANCE 


Le rylhmc dc !;i vie moderne Ktinstmuscnm Basel Sepl. 11 to Nov. 27 
Tuesday-Sunday 10 17 li. Tel. +41-61 271 08 23 Fax +41-61-271 08 45 

I'HMtKM 


SOLANO CARDENAS 

sculptures - paintings 

October 21 - November 16 1994 
GALERIE ART & PATRIMOINE 

22, rue des BlancsManteaix - 75004 Paris 
Td: (1) 48 04 87 77 or ID 42 71 98 01 - Fax: (1) 42 71 06 56 
Onai Tuesday to Saturday ■ 2 djt. to 7 pan, or by appointment 


COLLECTORS 


EXHIBITION 

29 ORIGINAL PAINTINGS 
OCT. 1994 -FEB. 1995 
72 pogc col. cot. S35 

LANDAU FINE ART 

1456 Sherbrooke St. West 
Montreal. Canada H3G IK4 
Icl: 514-B49-331 1 Fax: 5I4-2B9-9448 


THE 

INTERNATIONAL 
FINE PRINT 
DEALERS 
ASSOCIATION 


PR NT 

FAR 


Fourth Annual 


92 INTERNATIONAL FINE PRINT DEALERS 
OLD MASTERS TO CONTEMPORARY 

. November 11-13* 1994 

Preview, November lb. 1994 

The Park Avenue Armory 

Park Avenue & 67th Street 
New York City 

lnforatutoo: £12)777-5218 Fa*. (2 12)477-6490 
. Sluugcd by Word L. S«wh & AwacUw. Lid. 


WALLY FINDLAY GALLERIES INTERNATIONAL 
2, av. Matignon - 48, av. Gabriel, 75008 Paris 
Tel: 42.25.70.74- Fax: 42.56.40.45 


ocfo her 

ArdiSSone - Audi be rt - Bitter - Bourne - Carsuzan - Chauray 
Dubord - Fabien - Gantner - Gaveau - Hambourg 
Kluge - Malva ■ Tchoubanov - Vlgnoles. 


PRANCE 

SALON D'AUTOMNE 

DALI, GALA, LACROIX 

par Marc Lacroix 

jusqu'au 30 octobre Indus 
ESPACE EIFFEL BRANLY Quai Branly, PARIS 7* 

• Metro : Almo-Mcwceau, few et Eeole Militaire ■ RER Lignes C. pont de I' Alma 
• Bui • Lignes 42, &3, 69. 72. 80, 8? et 92 


Spink 
deal in 


FONDATl ON 
DE 

L'HERMITAGE 


Oriental. Asian and Islamic An 
Textiles ■ Medals ■ Militaria 
Cains ■ Bullion ■ Banknotes 

■ SPINK! 

SPINK i, SON LTD S. ft A 7 KING ST 
ST JAMES'S. LONDON. 
ENGLAND SWIY hOS. TEL: H7I-VSI* 7KK|i 
FAX: D7I-K39 4X5.1 TELEX: Wl I 


ANTIQUES 


Wt buy ml Mil JapamM Antique* of 
ttMEdo*ndM*qiP*riodK 
Fine SenunB. trart. Japanese doocme, 
huabs. Samurai swsds. firings and armor 
(M01 certuy 9wcu£i 19th century ) 
FLYUK1 CRANES AHTUXIES, LTD. 
1050 Second Avenue. GaMry »55 
New York, N Y. 10022 
Tet (212)223-4000 - Fax. p«)223JS)i 


".IE'S: 

if PEINTRES 
D E 

Z.B.0R0 WSKI 



lODfGLIANI 
UTRILLO 



24 JUIM - 23 0 CT 0 Sf?E 1944 
ts u 5 u: joua: si it h * ts h 
\ccTur?!vE jsua: ',013 .'u:.c;a a ;■? h 


AnirHo Modigliani, 'Ptuvait drjramir //rfcHfrTur.'paiiiiod iii 

1919, signed, nil on niive, Oil x.Mnn. 
Etfiniaiptni rrtjunt. 

On view in New York from 4ih November 1994 
Enquiries: 

Alexander Apsis, in New York on (21*2) 606-7360 
Fax (212) 606-7037 

Sotheby's New York, 1 384 York Avenue. NY 1 002 1 . 
IlliHlr.it vd ntalugun arc nraiLiblc 
from our galleries and offices worldwide. 

Tu order by credit card please 
telephone die UK on (0252) S6I414 
or fax details on (0252) H61R77. 

SOTHEBY’S 

vni'Nnvn 1744 




r 


Page 8 


SATURDAY -SUNDAY, OCTOBER 22-23, 1994 

opinion 


licralh 


INTERNATIONAL 


1 ‘ulilirlml With Thf \in Vurfc Tim^ umi Th- ttasiiincttin P«»i 


fcribuUC Now to Make the Korean Accord Stick 


Mideast Peace Under Siege 


The armed Islamic militants of Ha- 
mas knew exactly what they wanted to 
accomplish by bombing a crowded bus 
in the heart of Tel Aviv — the most 
devastating act of terrorism against Is- 
rael in 16 years. Their acknowledged 
goal is to destroy the growing momen- 
tum for negotiate peace. 

To ensure that they do not succeed. 
Israeli leaders and the chairman of the 
Palestine Liberation Organization. 
Yasser Arafat, urgently new! to reassure 
a frightened and angry Israeli public by 
cracking down hard on the elusive Ha- 
mas terror network. 

Closing the borders between Israel and 
(he occupied territories is justified to give 
passions on both sides a chance to cool, 
but it cannot be of unlimited duration. 
Prime Minister Yitzhak Rabin is also 
right to plan new police operations tar- 
geting Hamas in Israel and Israeli-run 
areas of the West Bank. But again, the 
security forces must walk a fine line be- 
tween aggressive efforts to head off new 
terror attacks and broad-brush roundups 
of suspicious-looking young men. 

A crucial responsibility also falls on 
Mr. Arafat, who quickly denounced this 
latest atrocity but needs to back his 
words with firm, consistent action in the 
areas under his supervision. The Gaza 
Strip, now under PLO administration, is 
Hamas's main known base of support 
The PLO police force is still not as credi- 
ble or effective as it should be. If Mr. 
Arafat hopes to win the confidence of 
Israelis needed to extend the scope of 
PLO administration, he must prove him- 


self a credible partner against terrorism 
now, in deeds as well as words. 

That could make the PLO and Mr. 
Arafat increasingly targets for Hamas 
terrorists. But given Mr. Arafat’s historic 
decision to pursue a negotiated peace, 


that is a risk he must accept. 

Eradicating terrorism wtU take a long 
time and it is an illusion to think that 
even the best police work can completely 
guarantee public safety. Israel must keep 
doing all it can to dry up the sea of 
sympathizers in which these killers swim 
by responding to the legitimate political 
claims of the Palestinian population and 
continuing to negotiate peace agreements 
with neighboring Arab states. 

Hawks in Israel are already blaming 
Mr. Rabin's peace diplomacy for 
Wednesday's attack. Some of these Israe- 
lis seek to discredit a peace process they 
do not like. Others sincerely believe that 
security can only come from repression. 

But even hard-line Likud governments 
were not able to stop terrorism by force 
alone. Moreover, some of Mr. Rabin's 
past efforts to look rough have backfired, 
tike his December 1992 expulsion of 400 
Hamas nuli cants to Lebanon. His task 
now is to find ways to be tough that do 
not wind up harming Israeli interests 
in the longer run. 

Meanwhile, President Bill Clinton is 
right to go ahead with his scheduled trip 
to the Middle East next week to witness 
the si gning of the Israel- Jordan peace 
treaty. To let terrorists disrupt peace di- 
plomacy is to let them succeed. 

— THE HEW YORK TIMES. 


The Bases That Wouldn’t Die 


Six years ago, in a stroke of political 
enlightenment, the U.S. Congress created 
a new process for shutting unneeded mili- 
tary bases. It assigned an independent 
commission the unpleasant business of 
picking bases to close. Congress can over- 
rule the commission's entire list, but has 
not done so. The concept seemed flaw- 
less: the execution less so. 

Three commissions — in 1989, 1991. 
and 1993 — have recommended closing 
more than 100 installations. Various 
members of Congress have done battle 
for bases in their communities. Some 
have even gone to court. In the end. the 
commissions’ findings have been adopt- 
ed. But that does not mean that all the 
bases have been shut down. 

Business Executives for National Secu- 
rity, which tracks Pentagon programs, 
has now analyzed what happens after a 
base is slated for closing. In most cases, 
the dosing has proceeded. Bui in some 
cases it has been derailed — by a change 


of plans at the Pentagon, or by other 
government agencies that grabbed the 


government agencies that grabbed the 
land for unnecessary and expensive ex- 
pansion, always with the willing support 
of local politicians. 

The most prominent example is the Pre- 
sidio in San Francisco. Sixth Army head- 
quarters, based there, was to be trans- 
ferred to Fort Carson in Colorado: instead 
it is staying put in reduced facilities and 
the resi of the base has been made a 
national park. In Texas, closing Carswell 


Air Force Base was going to save S156 
million by 1997; instead, according to the 
report, the government has spent $200 
million rebuilding it for the navy, and $197 
million per year to operate iL 

The Pentagon challenges the report's 
assertion chat 26 bases that were sup- 
posed to be closed remain open. But the 
exact numbers matter less than the point 
that the system needs tightening to guar- 
antee that dosed bases actually do shut 
down. The report says the principal of- 
fenders are military reserve and guard 
units, and the Pentagon’s finance and 
accounting centers, which have seized on 
the availability of free land to create new 
installations for themselves. 

It makes sense to convert redundant 
military installations into bases or offices 
for other purposes, so long as the func- 
tion is necessary. Indeed. U.S. law gives 
other government agencies first call on 
these properties. But the business group's 
analysis is persuasive evidence that some 
bases are being kept open just because 
they are there. It recommends amending 
the law with a specific legal definition to 
make it clear that “closing" means clos- 
ing, not staying open with a new role. 


Given Congress's distaste for dosing 
any federal office, it may be hard to get 
new legislation. That is unfortunate, be- 
cause die leakage undermines a rational. 


□onpolitical process that is a credit 
to Congress itself. 


Congress itself. 

— THE WASHINGTON POST. 


Quietly Helping the Schools 


Whatever its record in other fields, the 
U.S. Congress now home campaigning 
was highly productive in the realm of 
education. Six significant bills were 
passed — just about the entire extensive 
agenda of the Clinton administration. 
Together they cover the entire span or 
years from Head Start, the preschool pro- 
gram, to college student aid, and would 
make some important policy changes. 

Part of the explanation for their pas- 
sage lies with Congress. The education 
committees have a tradi Lion of strong and 
mostly bipartisan support for the pro- 
grams under their care. The administra- 


tion was also generally careful to keep its 
proposals within the boundaries of 


proposals within the boundaries of 
broadly acceptable policy. Where it ven- 
tured Seyond, as in some of its stronger 
ideas for confining school aid to needier 
districts, it was partly beaten back. 
The cause was helped as well by the 
determination of the self-effacing educa- 
tion secretary, Richard Riley. The cabi- 
net member who is perhaps the quietest 
was also among the most effective. What 
might be the lesson there? 

Congress reauthorized Head Start, in 
the process continued Lo provide for its 
expansion — it is on the way to becoming 
a de facto entitlement — but also set 
aside some funds to strengthen the quali- 
ty of the program, which has sometimes 
been sacrificed in the name of growth. 

The Goals 2000 bill was passed, put- 
ting in place a system — actually, several 
systems — for the setting of national 
education standards. The trick was to 



International Herald Tribune 

ESTABLISHED HBt7 

KATHARINE GRAHAM. ARTHUR OCHS SULZBERGER 

Ci>-Chiiirmrn 

RICHARD MeCLEAN. Publidur A Cii../F,«-.i«niv 
JOHN VINOCUR. Euxutnv Editor A li 'trPnwkni 

• WALTER WELLS. Abo fita «- • SAMUEL AST. KATHERINE KNORR ari 
CHARLES MITCH ELMORE, & 7 WV fifth m • CARL GEW1RTZ. Anvkar Editor 

• ROBERT J DONAHUE. fiftWrtv EMm I ftp* • JONATHAN GAGE Ante* and townee £&<r 

• RENE BOND Y . Ajiwv PtMdwr • JAMES McLEOD. AAmains: Dim 1 v 
•JUANITA LCASPARL Im-mtmm} Dn^foinu Don **• ROBERT FARRE. CmiAmm Dinar, fiinjv 

I kminr de 61 PhNU nth ur Rhlhird P Sunn *b 
Iftm'ciirAtijntia Jr In Pid<Unnnm: Ryfttirw P. ftimm 


InTiTrMtK tuJ HtjAJ Tribune, INI A'vtwOiarbvikMjui/Ik.'.V252l NsuiBy* sur-SiniK. France. 
Ttl. :i ftix : Cir.-.. 4fi 37.1 I : Adv- -4637.52. 1 2 lnlcrntf: IHTtfaKoLfflrue 


• hli'er (nf Alfa Mulkirl ftj ItfinJum .S timirrfwn RiL Stn&lftvr 1 * 51 /• Trl if> »> d 72 : . f<X ha : (Ml 2 « 4 - 2 .W 

• Mns Dir. Aw. fc-ft /> kr.njmlil Hi (Jl, writer fit H»k A iwn Trl. f«c «S?4C2-//W. 


■Mfc I'll. .vw. niff 1 » nr.wjunu .»# ijjiwrwt AIL. #7f«V A/»C /n, WWI — > ■ 

. 1 *v Shr 1 rmun. T. X W far hwln Int. IS. (H/2I tnmHu’t'M 7W 1 MW 72 h? .55. hi 1 (Wl 72 7J HI 
he* I s ■ Muluhi Oinri. XVi Th,„i Air, Ain hvL ,V K Tw22 Trl. l2/-’J Nil- (2/21 75SX7X5 


. I E. \ihmiwK Dili I ,uk r< imuhm Wei Tel i«7/i Wi-MWi tar ?(»"/» 2-W/-225L 
; S \ ,111 1 iipnal 1 I 1 I. HCS V riHlrrrr H (««ym>/nn fiirifciirr So. </.W 

1 • /***■ ( luh Tnithwil Hi ni hi Tnlnok All n$ti* «vn«l AW (CVWIfC 



tt WASHINGTON — In bringing North 
YY Korea’s nuclear program to a halt, the 


YV Korea’s nuclear program to a halt, the 
Clinton administration has achieved a dip- 
lomatic triumph. 

The freeze agreement signed Friday in 
Geneva has strong verification safeguards 
and deserves full support. But to make 
it stick, the administration will have to 
normalize economic and political relations 
with the North and rein in hawks in Seoul 
who want to encourage the collapse of the 
regime in Pyongyang. 

The agreement has two weaknesses. First, 
it envisions complex arrangements that de- 


By Selig S. Harrison 


A push by Washington for fuM 
normalization of relations should 
help moderates in Pyongyang . 


pend largely for their success on South Ko- 
rea’s goodwill toward the North. 

Yet Seoul, emboldened by the death of 
Kim B Sung in July, hopes for the downfall 
of his son and successor, Kim Jong D. 

Second, while assuming responsibility for 
the agreement, the United States expects 
other countries to cover most of the costs, 
and thus may be unable to assure that it is 
successfully carried out. 

Before Kim H Sung died. South Korea 
denied North Korean charges that it wanted 
to absorb the North. But in a speech on Aug. 
15, President Kim Young Sam declared that 
a unified Korea would be “another Repub- 
lic of Korea," signaling that he envisioned 
imification-by-absorpuoiL 

Today, Seoul's powerful intelligence 
agencies argue that Kim Jong Q’s days are 
□umbered. Kim Young Sam reflected this 
assessment when he told The New York 
Times on Oct. 7 that the regime is on the 
verge of an economic and political crisis 
that could sweep it from power and that 
U.S. compromises in the nuclear negotia- 
tions might prolong its life. 


As a result of four visits 10 the North, 
most recently in June. I believe that North 
Korea's political structure is solid enough to 
withstand the readjustments now taking 
place. The ruling Workers' Party is strongly 
entrenched and Kim II Sung's nationalist 
mystique is likely to endure for years. 

It is wishful dunking to expect a collapse. 
A more likely outcome is a gradual liberal- 
ization, starting with more open foreign 
economic policies, similar to China's. 

The North wants a loose confederation 
on terms of equality' with the South that 
leads to an orderly negotiated unification. 
For the United Stales, Japan and South 
Korea, this would be far better than an 
economic and political breakdown in 
Pyongyang that led to large-scale flows of 
refugees, heavy reconstruction costs and 
possibly military strife. 

The United States should reinforce the 
nuclear agreement by moving toward full 
normalization of relations instead of stretch- 
ing out the process over years, as contemplat- 
ed. This would strengthen Kim Jong Q and 
the moderates in his inner circle and help to 
neutralize pro-nuclear hawks in Pyongyang. 

To appease his own domestic hard-liners, 
Kim Young Sam is pressing the United 
States to slow the establishment of liaison 
offices in Pyongyang and Washington, 
which is pan of the agreement, and 10 con- 
dition further U.S. moves toward normal- 
ization on North Korean compliance with 
the South’s terms for North-South dialogue. 

White consulting with Seoul, the United 
States should chart its own course in dealing 
with Pyongyang. America's alliance with the 
South was a response to Soviet and Chinese 
military ties with the North, but now Mos- 
cow and Beijing have closer relations with 
Seoul than with Pyongyang. 

The United States should disentangle itself 
from the internecine Korean conflict and 
shape a new policy designed to build good 
relations with the people of the peninsula as a 


whole. During this transition, the mutual 
security agreement with Seoul should be hon- 
ored indefinitely, backed by air and sea pow- 
er as weD as some ground forces. 

The adminis tration has assigned a central 
role to South Korea in a projected multina- 
tional consortium that is to supply Pyong- 
yang with light-water reactors, which pro- 
duce a grade of plutonium less suited to 
weapons than the North’s existing reactors. 

This sounds like a promising way to fa- 
cilitate North-South cooperation, but it may 
never come to pass because the North fears, 
understandably, that Seoul will seek to use 
the project as a political weapon. 

A more stable way to fulfill the commit- 
ment would be to build the consortium 
around China, with South Korea and Japan 
in secondary financing roles. 

Beijing could be induced to put up the 
biggest share of the money if Washington 
agreed to lift its ban on the sale of U.S. light- 
water reactors lo China for its own energy 
program. It would be politically indefensible 
for the United Stales to provide reactors to 
North Korea while denying them to China. 

Congress killed a U.S. -China nuclear co- 
operation agreement in 1985 to punish Beij- 
ing for selling missile technology to Paki- 
stan. But since then China has signed the 
nuclear nonproliferation treaty and has sat- 
isfied the United Slates that it is not trans- 


ferring proscribed technology to Pakistan. 
The United Slates could lead the consor- 


tium more effectively if it assumed a share 
of the S4 billion financial burden. 

President Clinton should ask Congress to 
back his promising venture in nonprolifera- 
tion diplomacy by removing legislative re- 
strictions that block aid, trade and invest- 
ment dealings with the North. 

Even if there were no nuclear crisis, it 
would be in the United States’ interest to 
encourage the forces of moderation and 
reform in Pyongyang. 


The writer is a senior associate at the Carne- 
gie Endowment for International Peace. He 
contributed this view to The Hew York Times. 


Clinton Catches an Updraft, 
Rather Far From Home 


ITS SAPPM-HIS... 
SABRE atmi/K Ml JW 




W ASHINGTON — Maybe 
what America needs right 


now in foreign policy is not an 
overarching vision but adaptabil- 
ity. patience and a Utile respect 
for the historical newness and 
complexity of the situation. 

This has to be the autumn of 
Bill Clinton's foreign policy con- 
tent, the season when this share or 
his responsibilities turned from 
debit to credit on the great politi- 
cal scoreboard whose keeping is 
Washington’s prime daily care. 

He has newly in hand an agree- 
ment with Communist North Ko- 
rea that, even in the judgment of 
those who lament some of its 
terms, cracks a nut that had de- 
fied previous administrations and 
materially advances the Ameri- 
can purpose of curbing a world- 
class nuclear threat. 

In a second difficult high-pro- 
file case spun off by George Bush 
— a president widely acknowl- 
edged as a foreign policy whiz — 
Mr. Clinton adroitly and rauscu- 
Iarly faced down an ominous 
probe from Saddam Hussein and 


By Stephen S. Rosenfeld 

DN — Maybe American impetus also produced 
-ica needs right a further fruit — Protestant gun- 
jolicy is not an men matched Catholic gunmen in 




putting down their arms. 
Wire a refugee agreer 


find a way of setting high standards that 
would not tum into a national curriculum 
and would not consign large and vulnera- 
ble chunks of the population to failure. It 
looks like it might work. 

The main forms of federal aid to ele- 
mentary and secondary education were 
also reauthorized, and somewhat reconfi- 
gured, though not as much with regard to 
the distribution of funds as the adminis- 
tration had proposed. 

A school- to- work bill was passed, an- 
other in a long series of efforts at the 
federal and lower levels to make school 
more relevant to work. The president's 
proposed national service corps was creat- 
ed, though on a smaller scale than he had 
asked. It is an effort to let young people 
work off the cost of college and perform 
community service at the same time. The 
student loan program was also restruc- 
tured, Partly in hopes of saving money, the 


did so with no shots fired and no 
untoward concessions made. 

In a third such Bush hand-me- 
down, Mr. Clinton delivered on a 
promise to put Haiti's democrati- 
cally elected president back in 
Haiti, and did it with a quiet, un- 
contested military intervention. 

Meanwhile, a comprehensive 
Middle East peace process that 
was George Bush's original cre- 
ation produced on Mr. Clinton's 
watch yet another bloom — a 
formal peace accord between Is- 
rael and Jordan, while work goes 
on to draw in Syria. 

An Irish peace process to 
which Mr. Clinton has lent fresh 


Wiui a refugee agreement, he 
deflated a still-looming political 
crisis arising from the Castro end- 
game in Cuba. The rescue of 
Rwanda and the revival of South 
Africa are further items in the 
endless global housekeeping that 
falls to a great power. 

You could say all these projects 
are still tentative and could col- 
lapse or explode. But when you 
throw in the results in the admin- 
istration's foreign political priori- 
ty of moving Russia lo a new 
plane, and in its foreign economic 
priority of market opening, and 
more, then you have to give Mr. 
Clinton a good bit more defer- 
ence in this policy area than he 
has received. 

No wonder he is about to move 
the location of his midterm elec- 
tion campaigning from home 10 
abroad. No wonder railbirds like 
The Economist's Daniel Franklin 
are starting to suggest that a pres- 
ident whose domestic touch has 
turned leaden may be tempted in 
his third and fourth years to go 
for the international gold. 

There is a telling thing about the 





political thermal updraft that Mr. 
Clinton has recently caught. It un- 


Qinion has recently caught It un- 
dercuts the familiar consensus cri- 
tique of his foreign policy as un- 
steady in execution and tactics on 
one level and bereft of “vision” 
and “strategy’’ on another. 

Part of the explanation for this 
turn in Mr. Clinton’s favor is that 
he and his gang who supposedly 
couldn’t shoot straight have had a 
good run; that could change. An- 
other part is that the critics are on 


a learning curve of their own and 
are making more of a distinction 
between missteps or misstate- 
ments that embarrass and sub- 
stantive results that matter. Defi- 
nitely a third part is that those 
who Launch appeals for strategy 
and vision tend to offer very little 
of it themselves. These days a 
certified vision has a shelf life of 
about four months. 

Face it; The Joss of the Cold 
War discipline enforced by the 
great powers has left a world of 
unstructured pieces inherently re- 
sistant to any imposed order. 
Maybe what we need now is not an 
overarching vision — not a plan — 
but adaptability, a little respect for 
the historical newness and com- 
plexity of the situation, a little pa- 
tience while we do sensible things 
and argue and rally a consensus 
for the next stage. We Americans 
will miss some openings but avoid 
some errors and meanwhile pursue 
— even as we strive to define — 
our national interests. 


Few doubt that cries for Amer- 
ican leadership in the world mean 
less for most Americans than 
calls for attention to concerns at 
home. Nonetheless, others should 
note (hat the Great Debate on 
post-Cold War policy is pretty 
much over. Internationalism 
won, isolationism lost. Not the 
old internationalism but a new 
sort that keeps America engaged 
in the world, though with certain 
limits. This is what you get when 
you connect up the dots of what 
Bill Clinton, and George Bush 
before him, have actually done. 

Mr. Clinton's background and 
personality make him vulnerable 
to the internationalist elite's 
barbs. But foreign policy is not 
rocket science: it requires atten- 
tion but not career immersion. 
Mr. Clinton has begun to show 
signs that his practice is taking. 
With more of the luck he has 
enjoyed in the last few weeks, he 
could yet learn to like it 
The Washington Post 


What Sort of Superpower Can Refuse Every Risk? 


government will begin 10 make some of the 
loans directly rather than pay banks to 


loans directly rather than pay banks to 
make them. If repayment terms can be 
made more flexible — based on the stu- 


P ARIS — Is there a growing 
divorce between the demands 


made more flexible — based on the stu- 
dent's future income — perhaps the new 
system will also help reduce defaults. 

The federal government is not in the 
business of education so much as it is in 
the business of funding education in ways 
it hopes nil! lead to certain results. The 
goal is not to encroach upon the system 
but nonetheless to cause it to improve. 
Not easy, but each of these bills lakes 
some steps in the right direction. Togeth- 
er, they represent a sizable achievement. 

— THE WA SHINGTON POST. 


JT divorce between the demands 
of a post-Cold War world and the 
increasingly individualistic values 
of American society? 

Seen from Europe, Bill Clin- 
ton’s America remains a reluctant 
interventionist, despite the recent 
actions in the Gulf and Haiti. 
Crippled by a felt need to keep 
military casualties near zero, the 
United States seems unable to de- 
fine criteria that would justify the 
use of real military force. 

Such confusion cannot be at- 
tributed solely to the relative in- 
experience of the Clinton foreign 
policy team. Americans seem to 
be losing interest in the world as it 
becomes more complex. 

For more than 40 years, the 
logic of East-West confrontation 
made the notion of vital national 
interest self-evident Today, in 
the post-Cold War world, the rea- 
sons for military force, or its 
threat as an instrument of diplo- 
macy, are becoming less clear — 
even as the occasions to employ it 
have multiplied. 

The passing of the Soviet threat 
has left the United States ideoiog- 


By Dominique Moiei 


icaily orphaned, as it has the rest 
of the western world and Japan. 
But the consequences are greater 
for the United States than they 
are for its principal allies. 

America, a self-sufficient con- 
tinent, is in search of an analyti- 
cal framework with which lo jus- 
tify intervention in the world. 
Americans enjoy their superpow- 
er status. They are satisfied when 
the United States intervenes with 
successful determination. 


But they want power without 
risk, and at a minimum cost Why 
should Americans be killed for 
the sake 0 / countries their fellow 
citizens cannot find on a map? 

In the debate over Rwanda, 
some U.S. congressmen de- 
nounced not only the risk or 
American soldiers being lolled, but 
of their catching exotic diseases. It 
was a concern that French deci- 
sion-makers, civilian and military, 
would have found incomprehensi- 
ble. {Perhaps that is because inter- 
vention is a way of “existing" for 
France, part of its very identity.) 

But why should Americans, re- 
luctant even to feel responsible 
for their less fortunate fellow 
countrymen at home, take any 
responsibility for strangers? 

There are institutional limita- 
tions, as well, to the United 
States' ability to intervene. 

The power of the executive 
branch was seriously eroded by 
failure in Vietnam and the Water- 
gate crisis. The time of the imperi- 
al presidency is over. More than 
ever the legislative branch, with 
the power of the purse, can control 
foreign policy, at least in a block- 
ing role. Congressional initiatives, 
as in the attempt to lift the arms 
embargo of Bosnia, do little but 
embarrass the executive. 

TTje VS. Army has bad diffi- 
culty adjusting to the strategic 
realities of the new world It has a 
bureaucratic reluctance to inter- 
vene. Thai is compounded by an 
uncomfortable confusion be- 
tween its new policing tasks and 


its conventional mililaiy pursuits 
— functions that require totally 
different approaches. 

Soldiers are trained to inflict 
maximum losses on an enemy, 
not to contain civil violence. So 
the army is reluctant to intervene 
in the task of nation-building, or 
of healing the wounds of civil 
societies crying for humanitarian 
aid Some officers maintain that 
soldiers used for policing tasks 
lose their military capabilities — 
as shown by the malaise in the 
Israeli Army that resulted from 
the intifada. Many American 
strategists believe that today's 
Israeli Army would be incapable 
of repealing its exploits of the 
1967 and 1973 wars. 

The debate about the use of 
military force raises far deeper 


Tomorrow, if America is to pur- 
sue its current logic, it should over- 
ride its unilateralist instincts and 
reinforce its multilateral capabili- 
ties. Otherwise, it risks being too 
moralistic to undertake hard- 
headed (cynical) action, or too 
aloof for moral interventionism. 


The writer, associate director of 
the Institut Francois des Relations 
Internationales, contributed this 
comment to the International Her- 
ald Tribune. 


The Sound 
Of Bombs 


Ever Nearer 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


questions about the role of the 
United States in today’s world. 


United States in today’s world 
America seems to be hesitating be- 
tween two models. Should it be the 
great planetary balancer, as Brit- 
ain was in the 19th century, or a 

t tin. 


1894: Italy Bans So cialists co ^ zmo moves along, head to tail, 

nnKtv a „ . ■ * , . necessarily at the pace of its 

ROME An unmistakable sen- slowest unit, which happens to be 
sation has been caused inallpo- the van horSe. His SSearance 
Uucal circles by the publication of will be a loss to the wc$d^ 
a Government decree summarily 
proclaiming the dissolution of afi 1044? 


1944* Philippines Freed 

zations throughout Italy, and de- HEADQUARTERS OF GEN 1 


moralizing force, along Wilsonian 
lines, for the spread of democracy? 


lines, for the spread of democracy? 

An ambitious America proud of 
its rank but eager to economize its 
resources might be better off inter- 
vening by proxy and delegating to 
others, whether the United Na- 
tions or American allies, the prime 
jesponsibility for military inter- 
vention in small distant lands. 

Unfortunately, the United 
States seems just as reluctant to 
delegate to others the responsibil- 
ity to intervene as those others are 
to intervene themselves. 


Haring it a penal offense to pro- 
mote such societies or hold 
meetings for the avowal or ad- 
vancement of Socialist doctrines. 


1919: Horses Disappear 

LONDON — The traffic prob- 
lem grows in urgency and we are 
mwung up our minds to say fare- 
well to that trusted but unsani- 
tary fnend of man. the horse. He 
a being squeezed out by progress. 
Street traffic has changed its 
character in the last ten years. To- 
day there is practically no free 


By A. M. Rosenthal 

■vTEW YORK — The bus 
IN creeps along, stops an instant 
for a traffic signal and ^w- 
grates. Later, potice tawdifficuhy 
se p a rating the bits of bone, dead- 
ingwhich belong to the corpses of 
passengers and which to the peo- 
ple tom apart in their offices and 
Stops on Madison Avenue. 

Is that what it will take. Would 
Americans then understand the 
meaning of what happened in Tel 
Aviv? Would they grasp that they 
are not bystanders far off but 
traveling on the road to their own 
Dizengpff Street? 

Probably not. Pan Am 103 and 
the vaporization of 270 souls did 
not make Americans see the road. 
Nor did Che extermination of the 
241 U.S. servicemen and 58 
French paratroopers in the Beirut 
massacre, or the deaths of 95 Ar- 
gentine Jews in Buenos Aires. Not 
even the bombing of the World 
Trade Center stirred Americans 
for more f ban a month or two. 

All these terrorist attacks, 
and scores more, were the work of 
Td amir extremists. The West has 
shown a passivity that shames it. 

The only explanation is that the 
West fears confronting terrorism 
straight on. To do that, the West 
would first have to face realities 
that would embarrass some of its 
Arab allies. Thai could cost diplo- 
matic advantage, and money. 

Terrorists say that their target 
is Israel. But if they ever reach 
their goal of the end of Israel, 
terrorism will continue. The 
struggle is not primarily against 
Israel but the Western concepts 
of freedom of thought, religion, 
sexual equality and political ac- 
tion. Islamic extremists see them 
as a disease and Israel as a carrier. 

For the terrorists, there is also a 
continuing enemy within Islam — 
all Muslims and Muslim govern- 
ments that defy the laws, behavior 
and restrictions of Islam as they 
exist in the passions of the extrem- 
ists. Other religions will be openly 
ranked with Judaism as objects of 
disgust, unclean, destined for 
oblivion or servitude. 

As in most religions, hate and 
tolerance are both written into 
Islamic scriptures. But the ex- 
tremists have been taught only 
one — not just by their mullahs 
but by assorted kings, presidents 
and fuhrers who now tum to the 
West for protection. 

In Israel, Gaza and the West 
Bank, Hamas- now bums the 
torch of terrorism. Yasser Arafat 
"deplores" the killings and may- 
be means iL politically, at the 
momenL He tried, despite Ha- 
mas's record, to get closer to Ha- 
mas. But he cannot control iL or 
his own Palestine Liberation Or- 
ganization — which is supposed 
to police Hamas. 

When independence or full au- 
tonomy comes. PLO members 
might very well choose Hamas 
over Mr. Arafat. Perhaps Hamas, 
which proclaims brotherhood with 
the PLO. will find a job for him. 

Confronting terrorists means 
confronting their masters. Iran 
supplies the money, guns and ex- 
plosives, and Syria the haven and 
training grounds. 

The United States and Israel 
play down Syrian involvement in 
terrorism in their passion to get 
President Hafez Assad to sign a 
peace treaty. He is so contemptu- 
ous of both countries that he has 
never disbanded the Hamas 
branch in downtown D amas cus 
nor the nine terrorist groups biv- 
ouacked in Syria and Lebanon. 

Financing and aiming of Ha- 
mas and similar groups extends 
beyond the Middle East — par- 
ticularly to the United States. The 
Justice Department says the FBI 
is getting on die job. 

Anti-terrorist specialists know 
what could be done, given the will 
Fitsl the United States and Israel 
would tell Syria to dose every ter- 
rorist camp or give up hope of a 

S Western friends of Iran 
be told: Do business with 
them or us, not both. 

U.S. intelligence would release 
names of Middle East officials 
who have supplied or are still sup- 
plying terrorism, with money. 


imM 


■ * , 


~ - -fe-ss 


-• ft w' M 

» w-r . - 




. a* 


«'■ - r * 


fflOMtcscm 


razil Kxpc 


• .«( y* 

-v-; ■. 

: •;**$! 


• . t fl 







n or protection. All are entire- 
yablc and effective — once 
the W«t decides to stop the bus 
before it gets to Madison Avenue. 
The New York Times. 


headquarters of gen- 
eral MAC ARTHUR. The 
Philippines — [From our New 
York edition:] General Douglas 
MacArthur has brought libera* 
tion, in the liberal sense of the. 
word, to the Philippines. A pat- 
tern is being established here to 
serve as a democratic beacon for 
the entire Far East It is unlike 
any other “liberation'* in history, 
unlike even the most liberal mea- 
sures of the land in the European 
theater of this war. By actual 
force of the Filipino and Amen* 
can armies, General MacArthur 


v, 

>S 'Ma* 


■ *V -•» . ’ii 

• • 

a .., . ■ 1 > * 

> • •- i'* It*"* 

\ *• _ 


movement during the busy houra KhS? 15 ™ 118 - r *? rly . a J 1 ?, f 
in the nrain avenues, and^e long **. 


' r* **■** 


l ~ 





. I. 


1 \ 


' ,e So, 


Of nS 

b^s 

N.'* 'n R >^ 


^ ^'r k 
'■■'■ 1 CJ^U 

•■■tr-u- ■•■:*' 

,.i • • .:^.i . . -‘Gi.-V 

1“ : .V: •••VlA. l %. 


■v::^S3g 

“It.;, . . .'■*!: L-1) ”» 

H:. ;..:," 5 --! ‘ L L ^‘ 

v' "• 

:.J; 'j \“ ,f 

* V . . 

V‘ V :?v5'\ l ^SV-r 

:‘^i=i35? 

!•-: :. JX - ,;V L H 

ih * : ■■* --•:•<! c;!ihi-T H ' 

l\i! £.«??** 



S r: 

:■ i-.ti 1 v 8 ® 1 ®* 

„ ‘ ;; ;!:f ' 

..v . 

- • r..«i pnnun!\ 

£&?$SSi 


■ v 

: •f'.iij.- B; 1 L‘:r 

'u- \f. :jj % - 
■i.-: S iVr_. 

■"• •• * !, £' pc 



»•*-! 


«!;.■ 



Vk. 

i... ... 

i\y».. 



! . 

: • 

< 

-.r.:.: J; 


I*-’ 

>■ .. 

t.. - - . 

■4 r.t'g 


:• i 

r. 

. , •- 

) . •: iii 

Sil 

' „•/ . 



: v: 


fv " 

-. ..• 

: p. 

'u. j • ^ • 


i— 

i 

. !: » 


r* 

:i 

. . i 


s. <1*. 


.. .• 

• i . 

. .i’ 

r 

• 

♦ 

h: • 

«>i I’.- 


m 

i,r» '• 

it ■ 


a '• :• » 



•• . !* 



at 

\\ 

: . . i 


r.m' T 1 : 

hi 

t- 1 :• 

t.' i 


no 

!• _ 

vt 


: . 

AC 1 


i* 

I £ 1 

M. 1 


m 

»* 




sr 

1 

i • '• •• 


:t •» - 
.6 .9 C-* 

4 

t 

'■ 

■*. .: 

. ‘ 

d 


v . ‘I . I 1 



« 

' Jf-f 





.. 


hscovrihehw 
and most exclusive 
1 MAMJf ACTUtE Of 
IjWtJS MOMOWTEB 




«iML. " ' 

a ,wK>MAvv % 




-'rvj; 

Li * •'« >’.> 




.,#r*J!SFfr 
iX..v • *\ 
■Ely - 




‘ r V!?» A-.-hpi^: 

1 ■■" ' ,; ' 1 ■■•:.! Ma>S»jf 
-• %:.*.% 

•-••• v-' -:' vf l‘!"i 63 
’■ 

‘ •. 'C: .'■*•. ii-.*ngg, 

• ' •. ..:. 

'• ■« 

‘ i" '■ i ■.‘Ivi ■-. ^oj- j 

. . i. .1 ‘ * 


. . i .h • l. 

s s ‘ 

#i -;f 


‘ 1 " A 5.' 




JsliS ^»V Ni V ^ 

^jssvv 

International Herald Tribune, Saturday-Sunday, October 22-23, 1994 


m 


l^ik » wA.' 

FORGET 

:bi*wrhOne 

O4-U04CEACVE 
TB(«lZaJI2J319 
fAX 312 4318 


Page 9 



THE TRIB 




: 116. 


International Herald Tribune World Stock Index ©, composed of 
280 internationally Investable stocks from 25 countries, compiled 
by Bloomberg Business News. Jan. 1 . 1992 = 100. 

120 - 



)&$■ iy.Vi* ■•• 

100 teS- 

‘ ' s* s ■' . ■ 

sL* 1 ' ! " " 

gfl f:.;. 

M 


Appro* wti^raig: 32% 


Approx, wtigh&ng: 37% 


Close.' 13023 Plw.: 130S7 

j) 


Closs: 11083 Prove 1 1&E& 

iM 


^>3 ■ 1 . /' .vjt.v. * ^ 1 !\ 

■ • , s; '.€s-*- ! 4^ j \ !! J m ‘ 


M J J A 

S O 
1994 

M J J A 

S O 
1994 

| North America 


Latin America 


Approx. weiBfifing 26% 
Close: 96.55 Prev.: 97.1 1 


Approx, weighting: 5X> 
Close: 137S8 Prev- 141.11 



1/. >.'vCV ! iVy:S 




^ Worid Index 

Tin Max tracks US. dollar values of stocks «r Tokyo, Now York, London, and 
Ar g u tki o , Auatnlla, Austria, Boiglum. Brazil, Canada, Chile, Denmark. Rntand, 
Fiance, Germany, Hong Kong. Italy, Mexico, Netherlands, Naw Zealand, Norway, 
Singapore, Spain, Sweden, Switzerland and Venezuela. For Tokyo, Naw York and 
London, dto Index is composed ol the 20 top issues m terms of market cspdaSzaDon. 
otherwise dts ton top stocks are tracked. 


industrial Sectors 


Fit ‘ Prey. % Fit Pm. % 

don ckiw ctangr doao dow dwngf 

Energy 1R06 114.70 -056 Capital Goods 117,35 119.09 -1.46 

UflWea 12652 128.74 -1.72 Rawlfateriais 136^5 13824 -1^7 

Finance H7.02 118.10 -091 Consumer Goods 10480 106.05 -1.18 

Santees 11B97 12021 -1,03 Hteetaneous 124,40 125.96 -125 

for more information about the Index, a booklet is available tree at charge. 

Write to Tri b Index. 181 Avenue Charles de Gaulle. 92521 NeuMy Cedes. France. 

O international Hsrald Trpuna 


Chip Case 
Is Settled 
By Intel 
And AMD 


Bhiembdg Bittiness News 

SAN JOSE, California — In- 
tel Corp. and Advanced Micro 
Devices Inc. settled a four-year- 
old lawsuit over computer chips 
on Friday after a federal judge 
said she was “disinclined” to 
grant Intel’s request for a tempo- 
rary injunction against AMD. 

The settlement, which ends 
one of several legal disputes be- 
tween the companies, provides 
that AMD produce no future 
versions of the 486 chip with 
microcode — built-in software 
that controls a chip’s operations 
— that violates Intel’s license. 

Intel filed an order for a tem- 
porary injunction against AMD 
after Judge Patricia Trumbull 
ruled on Oct. 7 that AMD vio- 
lated copyright laws in copying 
Intel’s 486 chip. 

“Now it’s a fair fight,” said 
Tom Dunlap, Intel’s chief coun- 
sel He said the settlement 
stopped AMD from talcing ad- 
vantage of Intel’s proprietary 
code, which the judge said in an 
earlier ruling had allowed AMD 
to get chips to market faster. 

AMD has said it already has 
begun production of chips with- 
out the code and that it would 
not fill any new orders for exist- 
ing chips that violate the copy- 
right. Intel agreed to let AMJD 
fill existing orders for the chips, 
but no chips containing the 
code can be made or shipped 
after Jan. IS. 

“This is terrific because it 
keeps us in the market, able to 
supply our customers,” said 
AMD’s president and chief exec- 
utive, W. Jerry Sanders. “Other- 
wise it would have been like los- 
ing the Super Bowl just because 
we were declared offside.” 

Mr. Sanders said the ruling 
affected about 100,000 chips 
and would cost AMD from $15 
million to $20 million in reve- 
nue. 


U.S. Tests Bulb 
To Give Lighting 
A Brighter Life 

By Curt Suplee 

Washington Post Service 

WASHINGTON — The Department of Energy has un- 
veiled what it calls “a revolutionary 21st-century” ligh ting 
system that uses a bulb of sulfur bombarded by microwaves 
to produce bright illumination at a fraction of the cost of 
many conventional systems. 

The prototype lamp, invented by Fusion Lighting Inc. and 
developed under contract to the Energy Department, consists 
of a closed quartz sphere filled with an inert gas and a tiny 
amount of sulfur, when irradiated by the kind of compact 
microwave generator found in ordinary Jdtchen ovens, one 
sulfur bulb the size of a golf ball puis ‘out as much light as 
hundreds of high-intensity mercury vapor lamps. 

Christine Ervin, the U.S. assistant secretary for energy 
efficiency, called the lamp “a major technological break- 
through in lighting.” Commercial products are not expected 
until next year. The first applications are likely to be used in 
fighting shopping centers, aircraft hangars ana factories. 

Unlike most other high-intensity lighting sources, the sul- 
fur lamp has no electrodes, which are “the principal limitation 
to achieving long life in conventional bulbs.” Ms. Ervin said. 
Because there is no evidence that the sulfur reacts chemically 
to degrade the quartz, the lamp may not wear out for years. 

The Department of Energy expects initial lifetimes of 
10,000 to 20,000 hours. That is comparable to the kind of 
high-intensity lamps commonly used for street lighting; but 
those frequently lose as much as half their light output by the 
end of their life spans. The developers expect the sulfur bulb 
to sustain nearly peak output throughout its life. 

Others are less certain. 

*Td be anxious to see independent test data.” said Bob 
Davis, technology group leader at the Lighting Research 
Center of Rensselaer Polytechnic Institute in Troy, New 
York. “What will happen over its lifetime? Will the color stay 
constant? Will it maintain its light output?” 


Dollar and Rates Jostle 
European and U.S. Markets 

Recovery at Risk? Dollar Nudges Up 


Compiled tni Our Staff Fran Dispatcher 

LONDON — Stocks plunged across Europe 
on Friday amid concern that high bond yields 
and a weak dollar would stall European econom- 
ic recovery. 

Stronger-than-expected growth in the German 
M-3 money supply in September added to the 
turmoil lessening the chances that the Bundes- 
bank would reduce interest rates. (Page II) 

Expectations for higher U.S. and British inter- 
est rates before the end of the year added to the 
bearishness, analysts said. 

Leading stock averages fell 3 percent in Aus- 
tria, 2 percent in Germany and 1 percent in 
Britain, France and Italy. 

Stock averages were also lower in Belgium, 
Denmark, Finland, Ireland, the Netherlands, 
Norway, Spain and Sweden. 

Stocks of large international companies that do 
substantial buaness in the United States had the 
largest losses. The weak dollar reduces their earn- 
ings when they are exchanged for local currencies. 

Declines in shares of Volkswagen AG and 
pharmaceutical giant BASF AG led the DAX in 
Germany down 47.73 points, to 2,022.22. 

Stocks in Austria. Switzerland and France, 
which are closely linked to German economic 
policy, suffered the worst from the M-3 figures, 
with Austria's ATX index dosing down 3.1 per- 
cent, at 1,021.8. 

The Financial Times-Stock Exchange 100 
share index in London fell 30.4 points to 3,032.8, 
led by declining shares of BA.T Industries PLC 
and Grand Metropolitan PLC. 

In France, the CAC-40 index ended 20.7 
points lower at 1.846.70, led by falling shares of 
utility Compagnie Generate des Eaux SA and 
cosmetics giant L’Oreal 

(Bloomberg, AFP) 


Compiled by Oar Staff From Dispatches 

NEW YORK — The dollar was slightly higher 
against most major currencies on Friday, sup- 
ported by a new series of comments from U.S. 
officials, who said the administration was con- 
cerned about the currency's recent slide. 

But dealers said the market remained skepti- 
cal especially after Lloyd Bentsen, the treasury 
secretary, said Thursday that the United Stales 
would not intervene and after the flurry of clari- 
fications that followed. 

On Friday, Mr. Bentsen said the U.S. would 
prefer a stronger dollar, and Lawrence Summers, 
the Treasury undersecretary, said the United 
States would buy dollars, if necessary, to stem 
the currency’s decline. 

The dollar was at 1.5003 Deutsche marks, up 
from 1.4927 DM on Thursday, and at 97 .235 yen, 
up from 97.050 yen. The dollar also was at l .2490 
Swiss francs, up from 1.2385 francs, and at 
5.1390 French francs, up from 5.1 185 francs. 
The pound was at $1.6260. down from 51.6315. 

“S umm ers was trying to patch up the dam- 
age,” said Dave Glowacki, senior trader at NBD 
Bazik in Detroit. 

But Win Thin, an MCM Currencywatch ana- 
lyst, said the series of subsequent comments 
“didn’t inspire a lot of confidence.” 

Mr. Thin said the bearish sentiment toward 
the dollar remained intact, with investors reluc- 
tant to move until they had a clearer picture of 
U.S. policy. 

An MMS analyst said the conflicting nature of 
the statements by Mr. Bentsen and other Trea- 
sury officials had robbed them of any credibility 
as far as the market was concerned. 

(AFX, Reuters ) 


Deal Gives 4 EU Hopefuls a Lesson and a Blessing 


By Tom Buerkle 

International Herald Tribune 

BRUSSELS — European 
Union finance ministers re- 
moved the final internal barrier 
to the entry of Austria, Finland, 
Norway and Sweden on Friday 
with a last-minute compromise 
over milk fines that gave the 
prospective members a lesson 
in deal-making, Brussel s-stylc. 

The dispute was routine by 
EU standards, involving agri- 


ECONOMIC SCENE 


Brazil Exports More Than Coffee 


culture supports that make up 
half the Union budget and pit- 
ting two big, southern farm na- 
tions — Italy and Spain — 
against three northern fiscal 
conservatives — Britain, Den- 
mark and the Netherlands. 

What made the issue extraor- 
dinary was the huge amounts of 
money involved — Italy and 
Spain will have to pay a record 
3.2 billion European currency 
units ($2.5 billion) in total fines 
— and the willingness of Rome 
and Madrid to hold unrelated 
but crucial issues Jike„eplarge-.. 
merit' Hostage to. a fayopMe jk;t- . 
ileinenl. 

The dispute started when the 
European Commission found 


that from 1989 to 1993 Italy 
and Spain had vastly exceeded 
their milk-production quotas, 
thereby getting excess farm 
subsidies. 

Italy protested a proposed 
fine of 2.5 billion Ecus, saying 
the commission had set " the 
country’s milk quota too low by 
baring it on incomplete data. 
But when the commission of- 
fered to raise Italy's quota ret- 
roactively and cut the fine in 
half. Britain filed a suit in the 
European Court of Justice. 
n Although Italy could be out- 
voted by its EU partners on the 
issue of fines, Rome threatened 
to block a planned increase in 
the EU budget over the next 


five years, which requires una- 
nimity. That prompted Spain, 
which will be the biggest benefi- 
ciary of the budget increase, to 
threaten to hold up the planned 
Jan. 1 admission of Austria, 
Finland, Norway and Sweden. 

That move prompted action 
by Germany, whose top priority 
is EU enlargement. Finance 
Minister Theo Waigel forged a 
compromise on Friday commit- 
ting Italy to pay a fine of 1.9 
billion Ecus in four annual in- 
stalments. beginning next year. 
Spain’s fin^was set at 1.28 bil-" 
lion Ecus, more than a quarter 
below the initial proposal but 
300 million Ecus above the 
commission's revised offer. 


Chancellor of the Exchequer 
Kenneth Garke said Britain 
would drop its suit because the 
fines were steep enough to deter 
abuse of the EU budget. 

"This result justifies our hav- 
ing gone to court.” he said. 

For the Dutch, the result was 
bittersweet. Farm Minister Jo- 
zias van Aartsen wrote to his 
Parliament on Thursday pledg- 
ing to vote against any reduc- 
tion in fines for Italy and Spain 
on principle, since Dutch farm- 
ers have been fined in the past 
for overproduction. But with 
enlargement and the EU budget 
at stake, he faced heavy pres- 
sure to give in. 


By James Brooke 

Hew York Times Service 

GUARULHOS, Brazil — Under the 
vast roof of Ford Motor Co.’s car-radio 
factory here, the modem face of Brazil’s 
increasing^ efficient export- industries 
becomes as' apparent as the plant's .new 
Japanese robot, triple-checking electron- 
ic dicuit boards with a laser's exacting 
eye. 

“Under our quality-control program, 
we are cutting defects in half every two 
years," said Luis Carlos A. Oliveira, the 
quality and productivity manager for the 
Ford plant in this industrial suburb 
north of Sao Paulo. 

The factory, which employs 4,000 
workers, ranks among the.world’s largest 
manufacturers of car radios and automo- 
tive electronics. 

Brazil began opening its industries to 
international competition four years ago. 
Contrary to some expectations, Brazilian 
companies have not tumbled like domi- 
noes. Instead, they have invested heavily 
in pushing up their productivity to world 
standards. 

As a result, the S5o Paulo industrial 
center, the biggest in Latin America, is 
emerging as a tough and efficient chal- 
lenger in world markets. 

“Brazil will offer the U.S. a mixed 
picture in the future,” said Jeffrey E. 
Garten, the United States under secre- 
tnry of co mm erce for international tra- 
de. “Wc will have bigger markets, but we 
will also face more competition.” 

A yardstick of Brazil’s rising industrial 
efficiency is the jump in the number of 


companies awarded certificates of quali- 
ty from the International Organization 
of Standardization. The Geneva-based 
organization, known in manufacturing 
circles by its original initials ISO, has set 


' - j j\ r ’’ - 1 ' ' . ' j. 

. ‘ K-" 

! 30* 

' . -V f imports 




Imports 

~ - f v " 

_ S’.XPA '.S . 


90 . . *91 - ’92 tfjRGte}. 

SoiimatcBrat^ ^eBsOY^inaiistV. ■ pm 
TmUfanaToadam . y* • h :• - ,.y 


quality standards for 107 nations since 
1947. 

Today, 410 Brazilian companies are 
certified by the organization, compared 
with just 18 three years ago. Government 
officials project that 5,500 Brazilian 
companies will be approved by the end 
of 1997. 

The certificates, first issued in 1987, 
provide assurance of a company's ability 


to deliver a product or service that con- 
sistently satisfies customers. 

“It is not an obligation for doing busi- 
ness in Europe, but it is increasingly 
becoming a market requirement because 
customers ask for it,” said Roger Frost, a 
spokesman for the standards organiza- 
tion. 

The ratings are important for Brazil 
because about a quarter of its exports go 
to countries in the European Union, 
which adhere to the organization’s crite- 
ria. A further 21 percent go to the United 
States, which demands similar quality. 

While some U.S. business executives 
still think of Brazil as a coffee-bean ex- 
porter, the reality is that coffee now 
ranks seventh among Brazil's $5.7 billion 
worth of exports to the United States so 
far this year — after shoes, piston en- 
gines, telecommunications equipment, 
refined gasoline, auto parts, and pumps 
and compressors. 

Interest in modernizing business prac- 
tices has become so widespread that Bra- 
zilian bookstores last year sold 1.5 mil- 
lion Portuguese-language copies of 300 
business administration manuals. Only 
10 titles were available two decades ago. 

“Brazilian industry has made a pro- 
ductivity leap of 30 percent since 1 990.” 
said Hermann J. Wever, president of 
Grupo Siemens, the Brazilian subsidiary 
of the German multinational 

In July, the McKinsey Global Insti- 
tute released a study of productivity in 
steel ba n k in g, telecommunications and 
processed food in Latin America’s five 

See BRAZIL, Page 11 


Discretion is a virtue, profit is a must. 



• ; '• : t’y; . • • * ■’» 

■ • ' 






x;-'* 






CURRENCY & INTEREST RATES 


ss 

* '* ■' Ml km 

' ■” . ^ • Mm* h 
.... *i< ’ • , V; : ■ Pan. 

......... ■ *, t M m 

■ml ,,f * r u-.:- '-V J*"" 

a*****'"*,.;-.”:; » 

d* *.* i»r 

will *» •* * . cm 

,*H: < — 

.tail ^Ve:h- f .v-3 


Crosa Rates 

l t DM. 
Aantankun U7* SJ3 IQH 

Brunei! HUBS SWTS 30* 

Frufcivrl UFI» 2AB1 

1M MW 

Madrid ttOTJ J taM> IUO 

Ml km UXUB 24HU0 UMJI 

MtWVerK(b) I41IO IJ8B3 

Paris . MB I ion 

Tokyo fMO SMS BA 

Ttnah USII 11W W» 

Zurich IX ZJBU US* 

new IJD) w IM 

1»R UBS an* 1208 

Ckalnps in AflVNnfom London. I 
a: To buy ant found; b: To bur 
ovattatrie. 


Oct 21 

FJ!, Lira DJ=I BJF. SJ=. Yen CS Penta 

Bjm iw*s- — iMs uj- is» w 

MBS 2m • 115 2175* 0317 22415 HDT 

a am aw o»a test- ubb isas m i am me 

mg zofji 272B sun in urns izu mss 

2U25 L!C- 7*40 4002 10U* 1HJH* 7150 

3SSJ< *UW A7« 123US UTSS IJttW 722D 

lUf I4UH UIU 3LP M* rajs ?UU T 2 U» 

UM»u USH (LIMS *1ZU U7SZ' 37657 6UV- 

1117 0437 SIS 11(0 7U5 71A &78U 

mm taut ■ oaC M374* 140 IJN*- 1081 ' 

Uffi 00(14 * 07420 40474- U84»* 04206 W»* 

&5H3 U*3 * 2.M51 3K40B Ijnt IMW UC4 1SMB 

74341 2JHS4 24HS 4U» USB 1**W 10143 1KKC 

tawYortt. Toronto and ZurlOi/ fbOnus In other centers, 
ana dollar; •; Units at 100; N.Q.: not auoted; «A: not 


uvTwncy Deposits 

Swiss 

Dollar D-Mark Franc 

Sterilno 

Frencfi 

Franc 

Yen 

Oct. 21 

ECU 

41b-S 

4 mw 4 -v. 

3 '»«-3 -v. 

5 •-5 

S»«-5 . 

2 • --2 . 

5 -■ S 

9fi-Skt 

5*v«vu 

3M*. 

F'S-4 

5^-»» 

2' -24* 

S' *+ 

sw.. 

5Vi-5Vi 

4U.-4U, 


SL5 ' - 

2»S-3'i 

0 ■ 6 


5V*-59b 

4W-4te 

7 Wte 


2 --a-. 

4^.-6 te 


In a highly volatile financial environment, where change is the order of the day. Union Bancaire Privee 
offers its clients a unique approach to international asset management. 

Blending Swiss tradition and innovation. Union Bancaire Privee allies prudence and imagination 
in meeting its commitment to protect and enhance your assets. 

By becoming a client of Union Bancaire Privee, you too will discover the privileges of a very private bank. 


Sources: Reuters. Lloyds Bank. 

Kates a o o Uc u bk to interban k dax&its at si hiMob mfnftnuni ior anuhaknf. 


pbitipF' l :. ... 

r !f 

Ti «* N 

1*+** ■*' . r. • 
tfw >v : , 


Othw DoOar Values 

cmnor Pert Cbitwcy 

ArtohtMM W9M Ontkdnc. **»«" 

*MMI W484 IMIMI »OT 

Antr.KAH. IOJO Himfcfsrlhl W 

Brafflnal 0JJS rndtauwee 

CMntu vwa lilW iMlfc iwtali 2I7WB ^g*g°** 

a t h ta rane J7JS lrl*li « hJStti Port- **“■ 

DanUh kraM MW urortWrtt ^ SSSSS 

Pffp*. pnm*7l 1383 mnwiMmaar 0-2984 Sm ny« 

Pin. marteka 44*13 Malov.rtM. 1Mt7 sJm.l 


CanwKY 8 
5. Mr. road 
S.Kar.w0n 

Swed. krvoa 

Tafraii 
Tnalbam 
TnrtHti Bra 
UAE dmn 
enez-OdJI*. 


V ; a.'- - ■ K 

» ***** 


S! B *^ X 3 Hr s ^ 

Dtutsdw L4922 UQI IA935 JONOBU rtr 

Swta franc 1^)9 1.3425 1-T453 

fTtnntoJ; IMF tSDFU. Other data from Reuters angAP. 


Key Money Rates 

United States Clow Prev. 

Dtscoont rate 4410 400 

Prime rate Vk Tk 

PodorelteiHN 4% 4fe 

3-nwotli CDs kSO 480 

Chub, paper TW flay* S4C SS4 

3aaM Tt nawr MR 4.99 *99 

1- nor TraamrT Ml 181 SJS 

2- rtar Treasnrr note &73 Uj 

SYfor TrOBBry note 7.44 744 

7-voar Tra usw y note 1J6 TM 

Ihrear Trecsunr ooi» 7J8 7J9 

JO^rearTTrosinr Mod 7J8 7 29 

Merrill LyndSMoyReaar met 424 423 

Japan 

Dtacmnn rate 1 % lVi 

Call mooov 2 VS Ttt 

l -main MetOok 2V, 2% 

J-moafli fnfertaife 2 H. 1 v* 

Interbank IV 2*. 

18-r*w Oora mma l bond AM AM 

BnamY 


Britate 

Bank bosr rote 
call raoanr 
V-meaHi Intertnnik 
Vnwntt Inlertanfc 
4-moofti Inteftank 
lteterWO 
France 

loterr an tlgn rate 
CaO money 
1 -a Bate interhank 
Unanm I n te rt mfc 
frmontn tetertank 
lOYtor OAT 


5k* 5k, 

Ste fLQ. 
5Vj 512 
S v, S 

4 Vi 6 - 

844 842 

SM SM 

5 v. S’-. 

Ste s v. 
5 5^ 

5», SV. 
824 8.15 


UNION BANCAIRE PRIVEE 

(51-NfcVI-: 

TRES PRIVEE 


Sources; Reuters. Bloomoero. Morrill 
Lynch. Saak of Tokvo. Commeeibaat. 
Graanwett Montagu, Crtdtt Lromab. 


lombard rate 
Call manor 
T-mnnia In ter bank 
Seaenth bilcrbatt 
un on Hi Inl w b ank 
H-vear Bond 


UX) AM 
4.90 *90 

5JB0 iffl 
520 520 

520 U 0 
7 M 7JB 



AJH. 

PM. 

Ch'pe 

Zurich 

391.95 

3913)0 

+ 0,05 

London 

391^5 

39{L95 

-040 

New York 

39150 

39180 

—0.50 


O.l donors oer ounce ■ London otflcloi «*- 
Inosu Zurich ana Now vork opening and dot- 
top eel cm: Mew York Como* I December. > 1 
Source: Reuters, 


lliMd Ollier: *>f»-vS. rue Ju KhTunr • 1 304 c II Nl VI-' 

ill NI VI . /[I I! I* II • I.U«;ANi 1 • IOMDON . NASSAU . SLAV YORK • TOKYO . IIONil KON«i . ISIANBI'1 . AMERICA lATlS'A 







Page 10 


INTERNATIONAL HERALD TRIBUNE, SATURDAY -SUNDAY, OCTOBER 22-23. 1994 


market diary 


Dow Slides Again 
Amid Rate Fears 


Compiled by Our Staff From Dispatches 

NEW YORK — U.S. stocks 
declined for a second straight 
day Friday as lingering concern 
about another rate increase by 
the Federal Reserve quashed 
optimism about strong third 
quarter earnings. 

“Everyone's accepted the 
fact the Fed is going to increase 
the discount rate by at least 30 

~ U.S. Stocks 

basis points at its November 
meeting," said Gil Knight of 
ASB Capital Management Inc. 

The Dow Jones industrial av- 
erage fell 19.55 points to close 
at 3,891.30. About three stocks 
fell for every two that rose on 
the New York Stock Exchange. 
Volume totaled 309.43 million 
shares, down from 326.11 mil- 
lion on Thursday. 

Continued concern about the 
dollar troubled the slock mar- 
ket. following the sharp blow 
dealt to the currency Thursday 
when Treasury Secretary Lloyd 
Bentsen indicated that the 
United States had no plans to 
intervene to support it. 

Adding to investors' worries 
was mounting evidence that 
money has been flowing out of 
stock mutual funds. 


Merger Fever Awakes 
U.S. Railroad Industry 


By Bamaby J. Feder 

New yiffnfc Times Service 

CHICAGO — These are 
heady times for mergers and 
acquisitions specialists with cli- 
ents in the railroad industry. 

Union Pacific Corp. is trying 
to elbow in on Burlington 
Northern Inc.'s plans to merge, 
with Santa Fe Pacific Corp.; 
Illinois Central Corp. is propos- 
ing to acquire Kansas City 
Southern Railway, and a steady 
stream of smaller consolida- 
tions is in the works. 

In most other industries, the 
high level of merger activity 
would have arbitrageurs sali- 
vating. But railroad marriages 
often take years to win regula- 
tory approval. Burlington 
Northern and Santa Fe, for ex- 
ample, expect clearance to 
merge in the spring of 1996. 

Speculators who like quick 
returns generally stay away 
from the sector, and the merger 
activity has done little to lift 
railroad stocks. So far this year 
the group is down 12.5 percent, 
apparently because of fears that 
rising interest rates portend an 
economic slowdown. 


Via AlKMtod 


On. 21 


The Dow 


Daily closings of the 
Dow Jones industrial average 


Three major stocks helped 
pull down the market: General 
Motors Corp., General Electric 
Co. and Aluminum Co. of 
America. 

GM dropped 1% to 41 W, ex- 
tending its heavy loss on Thurs- 
day after the automaker report- 
ed disappointing third-quarter 
earnings. General Electric 
slipped 1 & to 4714, while Alcoa 
fell 1% to 88%. 

Until Thursday, stocks had 
been buoyed by octter-than-ex- 
pected earnings for many com- 
panies. But optimism evaporat- 
ed after GM*s poor report and 
its shares plunged. 

Bonds steadied after their 
sharp drop Thursday. The yield 
on tne 30-year bond dipped to 
7.98 percent from 7.99. 

Shares of companies devel- 
oping laser systems used to 
treat vision disorders rallied af- 
ter a Food and Drug Adminis- 
tration advisory panel recom- 
mended conditional approval 
of S ummi t Technology Inc.'s la- 
ser treatment to correct near- 
sightedness. Over-the-counter, 
S ummi t rose 2% to 34%, while 
VISX Inc. rose 2% to 13%. 

(Bloomberg, AP) 


m 



A ft 
1994 


J J A IS O 


The Wall Street consensus, 
though, is that investors are too 
bearish. There many buy rec- 
ommendations now, and not a 
single analyst following the in- 
dustry is recommending that 
the companies be sold, accord- 
ing to Zacks Investment Re- 
search Inc., which tracks Wall 
Street’s views of different 
stocks. 

Thomas Galvin, who follows 
the industry for C. J. Lawrence 
Deutsche Bank Securities, ex- 
pects most railroad stocks to 
rise 20 percent to 25 percent 
over the next year to IS months 
as investors start to recognize 
the basic improvement in the 
industry’s competitive position. 

The stocks have been short- 
sightedly lumped with the other 
cyclical groups that are vulnera- 
ble to fears that an economic 
recovery is nearing its peak, Mr. 
Galvin said. 

“The whole group is under- 
valued,” said Anthony Hatch, 
who. follows railroads for 
PaineWebber. “The industry is 
in a truly rare situation where 
its biggest problems are all re- 
lated to growth in volume.” 


NYSE Most Actives 



VOL 

High 

Law 

Lest 

Chg. 

GnMalr 

176868 41 'k 

40'.. 

4|l>< 

— r* 

CentEn 

43041 

r« 0 

84k 

»■ 

- '# 

GenBs 

37905 49 

47»k 

479, 

— !■* 

CPsyc 

34177 

KFu 

9Vk 

9V, 

—3 

Chaser 

33K3S 

35T« 

35*4. 

354'. 

—to 

Foraftrt s 

31?ll 

29 

28 

ar« 

- ’» 

Promui S 

26738 

30^ 

39 

30 

— •* 

IBM 

267DI 

IS*. 

74’ k 

744* 

—to 

SIcnGrs 

24973 

394k 

38 

294* 

*3'* 

Cnrvslr 

24847 

46'« 

451* 

454. 

—4* 

KimbClk 

23872 

S2N. 

50*k 

51 

— 1 to 

AAcDnlds 

23513 

281* 

271* 

27". 

-to 

TeiAAex 

23109 

62 

61'* 

XIV. 

■—14* 

cocoa 

31764 

50W 

49U 

SO'^. 

. ■ 'J 

Com pap s 

20624 

Mb. 

37V. 

38 

— 


NASDAQ Most Actives 



VOL 

Ktob 

Low 

Last 

Chg. 

Sn apple 

87159 

15*4 

I2Vb 

14 ,, e<, 

-2Vy 

ISOlVMr 

5654S 74 

191* 

19 to 

. 

MCI 

51113 

234. 

72 to 

22’ Vi. 

-1"„ 

Ortel 

47431 

2*V. 

I9>Vm 

24 to 


Cat! CP 

46071 11iU u 

into 

11 

— 1“ 

Intermix 

43052 

27 V. 

I5V. 

267* 

—IV., 

Mlcslts 

40980 

594k 

584* 

59to 

— 1 % 

Intel 

40375 tfHri 

59*1 

60'. 

— 4r. 

DalrTmo 

36762 

1V» 

I'ik 

|Vn 

-tol 

APOWC 

28788 

424* 

40V. 

42% 

>14* 

BavNiws 

2S586 

341* 

23to 

lar,. 

-to 

Quantum 

37715 lSR*. 

uu 

14’. 

—to 

Novell 

3*020 

16 V, 

i5to 

15% 


intoDv 

25748 

Z7to 

25% 

26to 


RPCNTW 

23732 

7W 

* 

7to 

- Ito 


AMEX Most Actives 



VOL 

High 

Low 

Lost 

Chg. 


25839 

IVi, 

1% 

IVti 

-to, 


14582 

94* 

8 




10446 

39 Vb 

38to 


— ’ra 


7143 

13% 

13 

13% 



6515 

10% 

9to 




5014 

4V,, 

4Vi» 




4634 

2"/* 


2to 

-V.. 


4449 

Tto 

6to 




4100 


to 


-to, 

Am dll 

4062 

99* 

?’•> 




Market Seles 




Prav. 


Close 

cons. 

NYSE 

309X3 

390.93 


19.16 

Z3J8 

NoRtaa 

In millions. 

31054 

356.18 


Dow Jones Averages 


Open Hwn Law Lad Gift. 

Indus 3 MJh WT1.T5 388190 3891 X0-I9J5 
Tran* 15P7-M. I ill J0 1S00JI 1500.67— 10.72 
Ulil 179 J90 180 07 178.86 177.67 — 0X3 

Comp m 13MJ9 1994.0! 13»4* -*& 


Standard A Poor’s Indexes 


High Low doe Cti’g* 
industrial, S55J2 551.60 55162 —150 

TroiiSB. Ml £5 35150 35487 -248 

Ufllllto) 15165 149.70 15064 Uneh. 

Finance 0.14 4184 4192— 022 

SPSM 46105 44343 44189 -1.94 

SP 100 43144 429JS2 430.92 - 164 


NYSE Indexes 


High Low Last am. 

Composite 254.54 255.04 25569 —0 95 

Industrials 32X54 32144 32X30 —1.24 

Tramp. 232.31 230.42 23064 —1.45 

UlllitY 20X63 20X38 20X38 —0 25 

Finance 203.90 20179 20100 —0.90 


NASDAQ Indexes 


Man Law Last Oib- 
Composite 766J9 76X74 76609 —115 

industrials 776.45 771B0 774.4$ —0X3 

Bantu 74X44 741.57 74175 —110 

Insurance 72X43 720.13 92X42 — MJ 

Finance 91144 911.83 91120 —1.94 

Tronic, 71109 711.15 711.15 —4.5* 


AMEX Stock Index 


Dec 

9151 

93X5 

9150 

+ 0X1 

Mar 

KM 

flit 

9268 

+ 0X1 

Jun 

92X9 

91X8 

92X8 

— 0X1 

SCP 

91X6 

9155 

91X6 

— 0x2 

Dec 

91J3 

91.20 

91 J2 

-0x2 

Mar 

91X9 

90.97 

91 XV 

— 0x1 

Joe 

9CLB9 

mxi 

nao 

— 002 

sep 

90X9 

90X7 

9175 

— 0X1 

uc 

90*2 

90X9 

90X5 

— 0.01 

Mar 

ML53 

9050 

90X8 

— 0X1 

Jun 

«tM5 

90X5 

9053 

-0X1 

5eo 

N.T. 

N.T. 

9053 

— 201 


Kitfi Low Last Oi*. 
457.80 45X15 4S6J* —160 


Dow Jones Bond Averages 


20 Bonds 
loumitm 
10 Industrials 


Close CB’oe 

9X98 + 088 

90.91 +025 

101.06 — 088 


NYSE Diary 


Advanced 
Declined 
Unchanged 
Total issues 
New Highs 
New Lows 


Close Prev. 

846 702 

1272 1523 

7B2 660 

2900 2*85 

20 45 

119 99 


AMEX Diary 


Clo sa Prav. 


Advanced 
Declined 
Unchanged 
Total issues 
New Highs 
New Lows 


240 

225 

303 

368 

266 

316 

809 

809 

11 

9 

32 

32 


NASDAQ Diary 


Advanced 

Detained 

Unchanged 

Total issues 
New Highs 
New Lows 


Close Prev. 
I486 1389 

1698 1812 

1927 1908 

Sill 5109 
96 104 

91 79 


Spot CommodWee 


Commodify 
Aluminum, lb 
Copoer electrolytic. IB 
Iran FOB. ran 
Lead, lb 
Silver, fray oz 
SteeM sc rap), ton 
Tin. lb 
ZJnc. lb 


Today 

0.787 

124 

21X00 

0.42 

X335 

127.00 

NA 

0.5438 


0.794 

121 

21100 

042 

52« 

117.00 

3.7523 

0.5331 


EUROPEAN FUTURES 


Metals 

Close 

BM ASK 
ALUMINUM (High Grade) 
MKn per metric tgn 
SPOI 173400 173500 

Forward 175300 175X58 

COPPER CATHODES (High 
Dalian per metric ton 
Soot 235200 255100 

Forward 255600 255700 

LEAD 

Dollars per metric ion _ 
Spot 65050 65100 

Forward 66200 66300 

MICXBL 

Pollan pgr metric ton 
SOOT 687500 608000 

Forward 698500 699000 

TIN 

Dollars per metric ton 
Soot 5515-03 33300 

Forward MOSOO 561000 

ZINC ( Special High Grade) 
Dollars per metric too 
Spot 106700 106800 

Forward 108800 ID89O0 


Previous 
BM ASX 


175600 175X00 
17740 0 177300 
Grade) 

258X50 wstei 
258400 2SB4.50 


65300 65600 
66500 66X50 


691X00 692500 
702000 702X00 


356000 337000 
564000 563000 


107100 107200 
109X50 109100 


Financial 

Hfpii Low Close Change 
3-MONTH STERLING (LIFFE) 

1300000- pts of 100 pet 


Ext. volume: 59,410. Open Int.: 481,176. 
3-MONTH EURODOLLARS (LIFFE) 
SI million -pts of 100 pet 


Dec 

94X0 

94X0 

94X0 

— 0X3 

Mar 

N.T. 

N.T. 

9357 

— 0X1 

Jun 

K.T. 

N.T. 

93.11 

— 0X4 

5kP 

N.T. 

N.T. 

9277 

— 0X3 


Est volume: 10. Open ItiL: 4,261. 


3-MONTH EUROMARKS (UFFE) 
DM1 minion -pts of me pa 


Dec 9486 9476 

Mar 94.57 9X44 

Jan 94.77 9483 

Sep 9129 9383 

Dee sow Mat 

Mar 91)7 9383 

JOB 92.95 9283 

Sep 9227 9X64 

Dec 9X60 9245 

Mar 9X47 9136 

J1W 9X37 9X25 

Sep 9X37 9X16 

Est. volume: 160827. Open Int.: 643881. 
3-MONTH PI BOR CMATIF) 


9429 -085 

9647 —080 

94.08 -08* 

9X66 -0.10 

9322 — 0.77 

9106 —0.71 

9X86 —089 

9286 — 0.10 
9248 - 0.11 
9237 —0.10 

9X26 —0.10 
9X18 —0.10 


EsL volume: 72.146. Open Int: 97.150. 
GERMAN GOVERNMENT BUND (UFFE) 
DM 2SUU0 - ptl Of 100 pet 
Dec 9027 89.52 8982 —052 

Mar 8982 8885 0983 — 0J2 

Est. volume: 1B382X Open Int.: 181241 
18-YEAR FRENCH GOV. BONDS CMATIF) 
FF580000 - ptl oflOO PCt 


Dec 

110.9* 

110X6 

110X0 

— 0X8 

MOT 

110.16 

109X8 

109X4 

— 0X8 

Jun 

109 ja 

10670 

10686 

— 0X8 

Sep 

N.T. 

N.T. 

N.T. 

Uneh. 


Est. volume: 214841. Open Int; 14483a 


Industrials 


HMi Low Lost Settle OTge 
GASOIL (I PE) 

U8. dollars per metric Ion-tots at 100 tons 
Nov 15S25 15180 15180 15180 — 150 

Dec 156J5 15X30 15X50 15X50 - I JS 

Jan 158.00 154X5 15450 15450 — 180 

Feb 55SX5 155JH 155X5 135X5 —180 

Mar 15850 155X5 155X5 155X5 —0.75 


Telekom in Deal With Microsoft 


Compiled by Our Staff From Dispatches 

FRANKFURT — Deutsche Telekom said 
Friday that it had reached a n agreement with 
Microsoft Coip. to form a “strategic partner- 
ship” in the multimedia sector. 

Telekom said the object was to develop and 
market an operating platform on the basis of 
Microsoft’s popular Windows software and 
allow multimedia services to be offered over 
Telekom networks. 

The accord was signed by Microsoft’s 


chairman. Bill Gates, and Horst Gellert, a 
Telekom board member, Telekom said. 

Hie German telecommunications giant, 
currently pan of Deutsche BundesposL is to 
be organized as a joint-stock company under 
the name Telekom AG in 1995. 

In June, Telekom announced that it would 
join France Telecom in buying a 20 percent 
stake in Sprint Corp., the third-largcsx long- 
distance carrier in the United States. 

(AP. AFX) 


HMi Low uni Settle Orte 


Apr 

Mar 

Jane 

July 

Aug 

Sap 

Oct 


156.75 15350 -050 
152X5 13X25 —075 
13150 15150 - 180 
15550 15350 —180 
N.T. 155X5 —175 
N.T. 156X5 -180 
N.T. 15780 — 180 
Open lot. 99,629 


IS6XS 15550 
75473 152X5 
154J0 13150 
13550 15550 
N.T. N.T. 

N.T. N.T. 

N.T. N.T. 

Est. volume: 33X96. 

BRENT CRUDE OIL (IPE) 

U5. dollars per barrel -tots of 1808 BarraU 
Dec 1653 16X2 16X8 16X6 —0.16 

Jan 1654 10.17 16.18 16.18 — 0.17 

Feb 1655 16.13 16.15 16,15 — 0.12 

Mar 16X8 16X0 16X0 16.10 — 110 

APT 16.19 16.19 16.19 1688 —086 

MOV 1680 1680 1680 I4U7 -084 

Jim N.T. N.T. N.T. 16.07 —083 

JlT 1680 1680 1680 1680 — 088 

Aug N.T. N.T, N.T. 1682 — 007 

Sep N.T. N.T. N.T, 1684 — 086 

Od N.T. N.T. N.T. 16.06 -085 

NOV 16X9 16XS 1 4X8 1688 -086 

Eat. volume: 31518 . Open Int. 233572 


Stock Indexes 


High 

FTSE 100 (LIFFE) 
133 per Index polnl 

Low 

ciosa 

Change 

Dec 

Mar 

306 IX 
30760 

30160 

3078.0 

a042D 

1 1 
uu 

Inb 


EsL volume: 14853. oaeti Ini: 57.927. 

CAC 60 (MATIF) 

FF2S0 per Max polnf 

Od 186180 183888 105180 —2380 

NOV 186?.® 184680 1B385D —2350 

D« 187350 186080 IS61U>0 -2380 

Mot N.T. N.T. 189380 — 26®3 

Jon N.T. N.T. 1B7B80 —2480 

Sw N.T. N.T. 190X00 —2180 

Est. volume: 29.653. Open Int.: 63543. 
Sources : Matt I, Associated Press . 
London Inn Financial Futures Exchange. 
Inn Petroleum Exchange. 


Dividends 


Company 


CNBBohj 
Mo lex Inc 


Per Amt Rtc Pay 


STOCK 


- 10% 
- 25 % 


12-9 

11-28 


FP5 mlllkui ■ pts at 180 pet 



Dec 

9454 

9617 

*4.19 

—0X3 

Mar 

93X0 

5070 

9174 

— 0X6 



9351 



Sep 

9103 

9252 

9254 

— 610 

Dec 

9272 

92X0 

92X1 

— 611 

Mar 

92X7 

92J37 

92J9 

—609 

Jun 

9128 

92.16 

92.18 

—610 

Sep 

91U 

92X2 

92X4 

— 610 

Est. volume: 50X46. Open Int.: 189X80. 

LONG GILT (UFFE) 



BMW 

ptl & 32 pC: 

of SeOpc 



Dec 

101-08 

100-17 

101-05 

— 0X3 

Mar 

N.T. 

N.T. 

100-06 

-0X5 


5TOCK SPLIT 
Archer Dan Mid 3 lor 2 spill. 

SP5 Transaction 2 for 1 spilt. 

INCREASED 

Q .10 
G .14 
0 .12 
a X95 

§ -5 
S * 

§ * 
INITIAL 

Fit Victoria Natl - 2B 

Ubti-ry PptyTr . A3 

Prime ResW - .130 


Co-op Bk Concord 
Co Bancorp Inc 
Donohue irw 
Eaultable Res 
HitncaraRitv 
Him Cara REIT 
Natl secur Ora 
PPG Indus 
Pinnacle West Cap 
SuMueharma Bean 


Banco do Sentnn b 462 

Banda McGtocklln a X4 

Burlington North Q JO 

Cent LA Elcc Q 865 

Chittenden Corp Q .13 

CitUens Bklns O XI 

Dean Witter Disc Q ,125 

Eaato Bcp O .14 

Fit Fed SAL EHort Q .12 

GAB BCP Q .18 

Genesee Cn A&B Q jo 

Hawkeve Bcp Q .13 

Illinois TooIWIue 5 .15 

Investrs Bk CP Q .125 

JSB Find Q M 

Leviathan GasLP G 40 

MlCh Natl CP Q 50 

Midwest Bcsfts O .12 

Nrthwst III Ba> O .125 

Oppenhmr CcmLP □ 50 

Pacific G8.E Q 49 

Peoples Fat Cp Q .12 

Plnnocie BcGrp Q X7 

Ryder 5 vs Q .15 

Sea Containers B O .175 

Seal right Co Q .115 

Soncco Prod Q .14 

SoutnTrust Co Q .17 

Valero Enemy Q .13 

Victoria Bkstis Q .13 

b-Aporax. amount oer ADR. 


il-i 

11-10 

11-17 

11-16 

11-1 

11-4 

11-7 

11-10 

11-1 

10-31 


10-27 

11-1 

11-1 


ioai 

11-6 

12-6 

10-31 

11- 4 
10-31 

12 - 1 
10-28 

11-2 

10- 25 
12-16 

11 - 1 
1260 
11-15 

u-e 

10-31 

11-1 

11-2 

11-1 

10-31 

IMS 

11-1 

10- 31 

11- 18 
11-4 
11-3 

11-18 

11-23 

10-31 

11-1 


IMS 

12-1 

12-1 

12-1 

11-15 

11-21 

11- 30 

12 - 12 
12-1 

11-21 


11-3 

11-15 

11-15 


11-22 

11-15 

T-T 

11-15 

11-18 

11-9 

1-3 

11-11 

11-10 

10- 29 
1-3 

11- 14 

I- 25 

12- 15 
11-22 
11-15 
11-15 

II- 16 
11-10 
11-30 

1-15 

11- 15 
11-10 

12 - 20 
11-21 
11-17 

12-9 

1-2 

12-7 

11-15 



VW Announces Ouster 
Of Top Finance Officer 

AFPExtd News 

WOLFSBURG, Germany — 
Volkswagen's chief financial of- 
ficer, Werner Schmidt, who 
came under fire for losses at 
VW’s Spanish unit, will leave 
the company by the end of the 
year, VW said Friday. 

He was chairman when 
SEAT reported losses of 1 .8 bil- 
lion Deutsche marks ($1.2 bil- 
lion) in 1993. 


Department 

Beu operating companies and a ce u 

official said Friday. _ tic vVesi Inc., and the" 

Bell Atlantic Corp., Nyn» Com- u s a partner- 

cellular firm, AirTouch CommumcaUoas^| n ’ tio S nwid e wireless 

ship agreement on 2?SdSev would jointly bid in the govern- 
services. The firms also said they wo J - ide new personal 

ment’s upcoming auctions of licenses to pro™ 
communications services. b 

Ford to Make Large Cut in Suppjjere 

NEW YORK (Kmght-RiddCT) — Co. 

it would reduce its supplier base forfocdiUte ana n F 
goods and services by about 90 

S&fe gatSJ-ft North° America ter 

some products and in Europe for others. . efficiency 

The company said the move would improve its emcuaicv 

reduce costs. 

Mobil Reports Decline in Profits 

FAIRFAX Virginia (Bloomberg) — Mobil Corp. 
quarter operating profit declined 14 percentas lower n- 
prices and weak refining margins outstripped ' 

The company’s profit from operations fell to $528 mi 
$613 nZ TTbe mdta exceeded analysts’ expectations, and the 
company’s stock rose 25 cents to $80,875 in Q e 

Special charges of $25 million in the recent quarter and a gam of^ 
$53 million a year ago resulted in a decline in nei mcorae of -5 
percent to $503 nuUion. Revenue fell 6 percent to $ 15.88 billion. 

American Brands Posts Profit Rise 

GREENWICH, Connecticut (AP) — American Brands Inc. on 
Friday posted 79 percent growth in its thirdnqjmrter profit, 
pushed by revenue gains in its core businesses, including touacco. 

distilled spirits and hardware. 

Income for the quarter ended Sept 30 came to $151.9 million 
compared with $85 million in the corresponding period a year 
earlier. In late trading Friday, American Bra nds stock was 
unchanged at $34,875. , .. 

Last year’s third quarter included restructuring charges totaling 
$35 million and a $29.5 million one-time buy-down of trade 
inventories by The American Tobacco Co. Quarterly revenues 
increased 11 percent to $3.66 billion, from $3.3 billion a year ago. 

Kellogg Reports Earnings Increase 

BATTLE CREEK, Michigan (AP) — Citing strong sales in its 
U.S. convenience food and international cereal businesses, Kel- 
logg Co. said Friday that its third-quarter earnings rose nearly 4 
percent to $216.7 milli on. 

Earnings for the three months ended Sept. 30 were up from 
$2093 million in the same quarter last year. Sales were up 4 
percent to $1.74 billion to $1.66 billion. Cereal sales were down in 
the United States because the company cut price-promotion 
spending on some brands, said Kellogg's chairman, Arnold G. 
Langbo. 

Exide Buys European Battery Finn 

BLOOMFIELD HILLS, Michigan (Reuters) — Exide Corp., 
the largest U.S. car battery maker, said Friday it planned to buy 
Compagnie Europtenne d’Accumulateurs SA, Europe’s leading 
auto battery manufacturer, for $535 milKnn 9 

Bride's mares climbed $330 to dose at $53 On the New York 
Stock Exchange. 

Exide said it had signed a letter of intent to acquire almost all of 
the shares of Compagnie Europtenne, a unit of Fiat SpA. Com- 
pagnie Europtenne has annual sales of $700 miHinn, primarily in 
France, Italy and Germany. 

For the Record 

LTV Corm the dwnMargest US. steelmaker, said its third- 
quarter earnings surged to $34.1 million from $400,000 as the 
company benefited from robust demand and price increases in the 
industry. 

( Bloomberg ) 


WORLD STOCK MARKETS 


Agonca France P raw Oct. 21 
Ctot# Prav. 


Amsterdam 


ABN Amro Hid 
ACF How Ins 
Aegon 
Ahold 
Akra Nobel 
AMEV 

Boto-WesMncn 

C5M 

DSM 

Elsevier 

Fokker 

Glsl-Brocodes 

HBG 

HelneHen 

Hoooovens 
Hunter Douglas 
1HC Coland 
Inter Mueller 
Inn Ncaeriond 
KLM 
KNP BT 
KPN 
NMUovd 
OceGrintcn 
Poknocd 
Philips 
Pol /groin 
Robeco 
Podamcn 
Rollnco 
Porenio 
Roval Dutch 
Stork 
Unilever 
Von Omwrcn 
VNU 


57X0 57 JB 
36 36X0 
703X0 104 A0 
4780 4&50 
30X60 20X47 
69 JO 70.10 

33.10 33X0 

6780 6680 
141JH 14180 
16X0 1680 

15X0 14X0 

44.40 44.OT 
284 38550 

23X60 237 JO 
75X0 76 

7X50 75.58 

43.10 4X50 
94 92.70 

77X0 78X0 
46 46^® 
4880 4980 

5280 5280 

48.90 51.10 

73 7X50 
46 46J0 
5280 54.10 

71.70 7180 
11X40 113X0 
5380 5180 
115X0 116 

8X70 8X60 

18780 18X50 

44X0 44.70 
198 1 99 JO 
45X0 4580 

176.40 174.10 


V»olter»7Klii«ver 121 JO 121.40 
EOE Index : 39985 
Previous : 403X7 


Brussels 


Almonll 

Araed 

Bnrco 

BBL 

Bekoert 

CAR 

CHS 

CNP 

Cockerlll 

Cobcoo 

Colruvf 

Dolhalrc 

Eiectrauel 

Electrallna 

Fonts AG 

GIB 

GBL 

Gevaerl 

Glove rbel 

lirtmabel 

KrKHeibank 

Mosane 

Perron no 

Poworlln 

Reencd 
RovatoBetao 
5oc Gen Banaue 


74» 7500 
4990 5040 
7420 7480 
4165 4150 
22950 23100 

11925 11975 

2505 2500 
1980 1980 
H7 195 
5380 5400 
7120 7190 
1236 1232 

5490 5520 

3000 3000 

2«0 24M 

1240 1246 
3965 4025 
8900 8940 
4560 4590 
2840 2940 
6)50 6)50 

1380 1372 

9420 9510 
29X 2965 
495 495 
4540 4780 
7470 7540 


Soc Gen Belutoue 3145 2190 


Sod no 
Solvov 
Tessenderlo 
Tract eoet 
UCB 

Union Min tore 
Wagons Lira 


12959 12975 

14825 14900 

9930 9800 

9730 9710 
24475 24250 
2680 2490 
NA 6500 




Frankfurt 


AEG 

Alcatel SEL 
Alllgni Hold 

Altana 
Asko 
BASF 
Bover 

Bov. Hvua bank 
Bov Veretnsbk 
SBC 

BHF Bank 

BMW 

Commerzbank jnaoJMJO 
ccm menial 721224.50 

Daimler Bciu 
Dwussa 
□f Babcock 
Deutsche Bonk 
Dowlas . . . 

Dresdner Bank 19X70 399 JO 
Fdamuehir 300 300 

F Kruno Hoesch 19X50 195 


151X0151.90 
300 300 

629 635 

825 848 
303J0312J0 
341X0351X0 
390 396 

42643X50 
660 680 
39X50 392 

7S2JS3 782 


752X0 768 
448 464 

227X0 230 
725 738 
495 510 


Haroener 
Henkel 
Hochtief 
Hoectat 
Hotmonn 
Horton 
IWKA 
Kali 5ol: 
Koratadi 
Kouftioi 
KHD 


310 31 

580 509 

MI P2P 
31X70 378 
790 812 
205 216 

332 338 

152X0 155 
615 628 
508 512 

11X30124 JO 


Kloeckner Werfce 138141 JO 


Undo 
Lufthansa 
MAM 

Monnesmarm 
MetoiisKscli 
Mueneh Rueck 

Porsche 

Preussas 

PWA 

ftwE 

RhemmeiolJ 


860 857 

183.90 186 
397404X0 
377385X0 
163 169 
2805 2835 
663 656 

441X0 449 

228X0231X0 
455.60 464J0 
270X0 273 


Scherino 
Siemens 
Thirssen 
Vcrto 
Vebo 
VEW 
Vtai 

Volkswagen 
Wei la 
DAX index : 102X22 


Close Prav. 

95050 9t9 

614621X0 
280X0 286 

314X031&J0 
505521X0 
379X0 377 
463X0472X0 
4JZ30 440 
1015 1025 


Helsinki 


Amer-Ynivmg 

Enso-Gunelt 

Huhramaki 

K.O.P. 

Kvmmenc 

Metro 

Moklo 

P oh low 

Ropoia 

Stockmann 


99X0 99 A0 
42X0 4X50 
143 144 

8.7) 8.65 
128 111 
M3 146 
6TO UA 
70 66X0 
98 97X0 
252 265 

HEX General Index : 1944X3 
Previous : l»MJ 


Hong Kong 

Bk East Asia 33 33 

Lomov PocHIc 1 IJ5 11.60 
Cheung Kong 36 34.40 

China Light Pwr 39J0 39.98 
□airy Form inll iojo itt.3S 
Hong Lung Dev 13X0 i3xo 
Hong Sena Bank 55X0 55 Js 
Henderson Lord 4&60 49.10 
HK Air Ena. 39.75 31.10 

HK Chino Gas 1405 14.15 

HK Electric 2120 23.45 

-HK Lana 18.M 18JU 

HR Realty Trust 18X5 10.70 

M5BC Holdings 00J5 89.75 
hk Snona Hus !05a 10.75 

HK Telecomm T5X5 15X5 

HK Fern 70X0 10.90 

Hutch Whampoa 34.10 


Hvson Dev 
Jorame Mom. 
Jordlne Sir Hid 
Kowloon Motor 
Mandarin Orleni 
Miramar Holel 
New World Dev 
SHK Proos 
Stolux 
Swire PocA 
Tpf Cheung Pros 
Tve 

Wharf Hold 
wheeiock Co 
Wing On Co inti 
winsor Ira 


19M 19.70 
5175 64J5 
29X5 29.75 
I4B0 14.75 
9X5 9.95 

19.10 19.10 
24X5 25 JO 
56JS 56X0 

11 S 3.15 
54.75 56 

iai5 10 jo 

4.15 4.15 
29X5 29X5 

16.40 16X5 
10.05 iaio 

10.10 10.10 


#S?,SSK , £S5t;- n * s ' 


Johannesburg 

A EC I 
AHedh 
Anglo Amer 


Barlows 
Blvvoor 
Buflers 

Drldonieln 

Harmony 
Highveld Steel 

KK>Of 

NeatxxifcGrp 

Ronatontcin 

Rusaiat 
SA Brews 
51 Helena 
SOSOl 

Western Dee# 
mposJh li 


77.75 27X0 
100 120 
239 238 

33 32 

1085 1085 
52X0 54 

IBOTO 108 
67 66 

1475 14X5 
125X0 125X0 
42JS 42 
■12 94 

7QJ0 7025 
32 3225 
47X0 48.75 
11X11150 
93 88 

52 52 

3755 37X0 
229 221 
5766X5 


London 


Abbey Nat*i 

4X7 

All 

Allied Lyons 

578 

5X7 

Ar|o Wiggins 

2X5 

2X4 

Argyll Group 

2X5 

2X9 

Asa Bril Foods 

578 

5X3 

Baa 

103 

5.05 

BA* 

4X7 

4X0 

Bank Scotland 

2X1 

2X6 

Barclays 

572 

5.71 

Bass 

5J7 

640 

BAT 

479 

4X1 

BET 

1X4 

1X5 

Slue Clrde 

185 

2X8 

BOC Group 

6.72 

6X1 

Boots 

5J2 

5X1 

Bawdier 

4X2 

453 

BP 

4X6 

AIM 

Brlf Airways 

176 

3X0 

BrttCas 

2X3 

2X6 

Bril sieel 

159 

158 

Bril Telecam 

1B4 

350 

BTR 

3.08 

3X9 

Cob* Wire 

4X2 

A10 

Cadbury Sch 

4X7 

A41 

Co radon 

274 

274 

Coals Vtrella 

1.96 

2X3 

Comm union 

5X6 

5X4 

Caunauras 

4X0 

4X0 

ECC Group 

650 

351 

Enterprise Oil 

175 

3X0 

Eurotunnel 

112 

2 

Flsons 

1.19 

1.17 



Close Prav. 

Forte 

2X3 

236 

GEC 


2X1 

Gem Act 


5X7 

Glare 


5.92 

Grand Mel 



GRE 

1X8 

1.91 

Guinness 

4X0 

4X2 

GUS 

5J8 

I'l 

Hanson 

2X2 


Hlllsdown 



HSBC HIOOS 

7X8 

7X2 

ICI 

614 

■ v.l 

inch cooe 

A17 


Kingfisher 

4X3 

4X0 

Lodbrake 

150 

153 

Land Sec 

ftffl 

6.18 

Lapone 

7X7 

7.15 

Lasmo 

1X8 

151 

Legal Gen Grp 

4J4 


Liovds Bonk 

5X5 


Marks Sn 

4X0 


ME PC 

4X8 


Naf'l Power 

4X0 


Not west 



Nmwsi Water 

5X8 

5X1 

Peorson 



P 40 



Pilkington 

151 

1.91 

Power Gen 



Prudential 



Ron* Oro 



HecKlfl Col 



Redlond 



Reed Inll 



Reuters 

458 


RMC Grouo 



Rolls Rovce 

173 

176 

Rainmn lunli) 

4.12 

4.19 

Roval Seal 

4. IB 

4X7 

RTZ 

BX1 


Soinsbury 

193 

198 

Scot Newcas 



Scot Power 



Sears 

■ I 

1X8 

Severn Trent 

RttI 

571 

Shell 

HO 

7X5 

Slebe 

5.15 

5X7 

Smith Nephew 

1X3 

1.43 

SmlthKMne B 

4X0 

6X0 




Sun Alliance 

3X5 

136 




Tesco 

233 

236 

Thorn EMI 

9.89 

9.99 

Tomkins 

2X7 


TSB Group 

2X2 

22 s 

Unllevor 



uia Bison ts 



Vodafone 

104 





Wellcome 

6J0 

658 

Whitbread 

5X8 


Williams Haps 



Willis Corroon 

FT M Index: 23 

153 

156 




Previous ! SML 




Madrid 


BBV 

3165 

3210 

a co Centra Hire. 

3020 

3085 

Banco San lander 

4920 

49B0 

Baneslg 

862 

(W 

CEPSA 

3160 

3200 

□ragados 

1845 

187S 

Endesa 

5570 

5590 

Ercm 

IU 

158 

Iberdrola 

817 

BX 

Reesat 

3880 

.DVUI 


3435 

340(1 

Telefonica 

1*90 

7725 


Milan 


Aiieoma 

15325 15700 

Auliaiia 

12160 12245 

Autostrada orlv 

>620 

>641 

Bra Agrlcolhira 


l-ylVl 

Bra Commer Itgl 


E!1 

Bco War Lovore 

It! 

Bra Pop Novara 

7950 

7V30 

Banco di Roma 

1565 

I.SWl 

Bco Ambrostam 

3960 

3935 

Bco Napao rire 

1068 

105? 

Benetton 

19360 >9850 

Credlte Itellano 

1665 

1680 

EnEchem Aug 

2910 


Ferfln 

1287 

r 

FWtSPO 

6030 

tm 


■ilV] 

. Xi' 

Finmeccanica 


a 

Fandlariaipa 

1 1’lV-'kl'./l 

Generali Asslc 

taL’iyj 

IFIL 

nr.i 

i-i 

ilaiceinentl 

10070 10115 

iraiocra 

45*0 

4650 


12730 12000 

Minted Ison 

1210 

1218 

Olivetti 

1825 

1808 

Pirelli sea 


W l 

RAS 


Rlnascente 


;r-i 1 


■rrrl 


SIP 

3915 


SME 

4110 


Snla bpd 

1865 


Stonda 

36000 36000 

SfeS 

4390 

4380 

Toro Asslc 

23000 23000 

MIB T demon car W? 
previous : 99*0 


Montreal 


AtcoLfdl 

law 

)3to 

Bonk Mon Irani 

24» 

269b 


Close Prev. 


BCE Mobile Com 
Cdn Tire A 
Cdn Uhl A 
Cascades 
Crown* Inc 
CT Flnl Svc 
Gaz Metre 
Gf west Ufeco 
Hees Inti Be# 
Hudson’s Bay Co 
imascoLM 
investors Grp Inc 
Laban [John) 
Lobknv Cos 
Mol son A 
Nail Bk Canada 
Oshawa A 
Poncdn Pelrolm 
Power Corp 
Power Flnl 
Quebecer B 
Rogers Comm B 
RovoIBkCdo 
Sears Canada Inc 
Shell Cdo A 
Soutnom Inc 
StotonA 
Triton Fln'l A 

I IM 

194101 


409. 396fc 
lih Ills 
24k. 24VB 
8 B 
I8M1 I8L1 
18 18 
12V3 12M 
20 20 
T3to 13W 
267. 2 7V. 
37^ 38 

16 16 
21 21V0 

21 ru 22 
21% 21% 
936 9% 
19 19U. 
40% 40% 
IVVh 18H 
28% 284s 
16*4 I6to 
19U> 19*4. 
28% 2S*k 

8 EP4i 
444S 4444 

16 154. 

9 914 
3 JO 175 

19*0X5 


Paris 


Accor 530 551 

Air Ltouldo 701 71? 

Alcatel AJsttwm 471X0 473X0 
AxO 239X0 244X0 

Bancalre ICIe) 495J0 498X0 
BIC 611 614 

BNP 248X0 252.90 

Botrvvues 521 524 

Danone 7H9 721 

Corrafour 2211 2200 

CCF. 211X0 213 

Cerws loivo 10190 

Chargeurs 1293 1275 

Clmenrs Franc 269.90 275 

Club Mod 425X8 428J0 

Elf-Aoultalne W.10 360 

Euro Disney 6X0 6X0 
Gen. Eaux 425 446 

Havas 419X0 41B.1Q 

I metal 560 577 

Lafarge Cornea 392 399.10 
Logrand 6750 6830 

Lyon. Eaux 44370 453 

Oreal IL-) 107? 1095 

l-VJWLH. 811 830 

Malra-Hacnette . 1 00102X0 
Miauilhi B 2I9J0 ' 
Moulinex 116 177 

Paribas 331X0 336 

Peetiiney Inti 156 156X0 
Pemod-Rloartf 290X0 296 

Peugeot 781 790 

Plnqult Print 960 955 

Radio technique 515 511 

Rh- Poulenc A 122X0 122.90 


RaH. 5t. Louts 
Sanafl 

Joint Gabafn 
5.E JB. 

Sle Generale 
Suei 


1398 1434 
248 244X0 
639 440 

542 546 

566 579 

233X0 240x0 


Tlwmion-CSF 136X0 141X0 
Total 31 7 JO 319.90 

UAP, 131X0 133.90 

vmso 280 

CAC-40 Index : 11*2X9 
Prev loos : 1867X7 


Sao Paulo 

Banco do Brasil 16.90 16X0 


Bbnespd 
Bradesco 
Brahma 
Cemlg 
Eletrabm 
irovocnca 
Light 
Pore 
Petrobros 
Souza Cruz 
Teiebras 
Tel ere 
Usiminas 
Vale Rio Dace 
Vnrio 


9.90 10 

8.10 12S 

81.21 S3 
283 397 

Z7D27Z07 

305315.12 
1131 11J0 
12*129X0 
7 JO 7J9 
39.70 *2 

410 421 
1J9 1X5 
164 166 

IBS 1HS 




Singapore 

16.90 16.90 
610 60S 
670 660 
13X0 13X0 
1080 10.90 
620 5 

7.15 7.1S 
17X0 1770 
2610 2770 

4X8 4X6 
SXS 5X5 
1120 13X0 
1.96 1.W 
13.10 1270 
122 128 
U1 ISA 
15 1610 
735 770 
9 9.15 
1170 12 

1.16 1.17 
2J3 2J5 
1130 1180 
9X0 9X5 


Asia Poe Braw 
Cerebos 

City Devetopnwt 
Cycle & Carnage 
DBS 

DBS Land 
FE LcvmwJon 
Fraser BNeave 
Gf Emtn LHe 
Hong Leona Fbi 
Inchcaae . ^ 

Jurana Shipyard 
Kor Hianj easel 
Keosel 
Natsnel 
Neatune Orient 
OC8C foretell 
O'ssas union Bk. 
oietn union ent 
Sembawang 
Stow Singapore 
Sing Aerospace 
Sing Airlines lorn 
Sing Bus Svc 



Close Prev. 

Sing Land 

9J0 

9J5 

5lng Petlm 

250 

2X0 

Sing Press tern 

26J0 

24 

Sing Shlobldc 

ZS» 

2X8 

Sing Telecomm 

3X2 

3X0 

Straits Steam 

5.10 

5 

Struts Trading 

4 

482 


4X6 

4X6 


1X2 

1X2 

inrPtT-niffr 

15X0 

1560 

Utd O-seos Lond 

198 

27* 

jbWgByggyi : 2377X5 1 

Stockholm 


AGA 

67X0 

17X0 

AseaAF 

540 

551 

Astra AF 

186 

187 


95 95J0 

Electrolux B 

371 

370 


433 

435 


100 

lew 

Handelsbank BF 

»2 90X0 

Investor BF 

179X0 

182 


2*5X0 

265 


132 

134 


11XXDDAXD 

SCA-A 

114116X0 

S-E Bonlten AF 

45J0 45.10 

Skonaia F 

128X0128X0 


150149 JO 

SKF BF 

13S 

136 


433 

*37 

Trcllebore BF 

110X0 

no 

Volvo BF 

142144J0 


1877X0 

Previous : 1891X5 


Sydney 


Amcor 

BX0 

882 

ANZ 

183 

384 

BHP 

20JB 

1988 

Boroi 

137 

135 

Bougainville 

0X9 

11.92 

Coles Myer 

4.12 

*.12 

Comaica 

5X4 

5J0 

CRA 

1884 

1876 

C5R 

4X8 


Fosters Brew 

1X3 

1X2 


1X8 

1X7 

ICI Australia 

1080 

10711 

Magellan 

1.90 

1.90 

MIM 

2JM 

Z7B 


10X8 

1850 

News Cora 

8J9 



381 


N Broken Hill 

385 

X75 


A07 

488 

Pioneer Inn 

182 


Nmndv Posotdcr 

2X5 

2X1 


IX 1 

1.37 


A03 

196 

TNT 

2X0 

2J9 

western Mining 

8X3 

889 

Wastpac Bonking A38 


Woodslde 

5.12 

589 


AUOrdliwrtej index: S05U8 
Prwfow : 20I4J0 


Tokyo 


Akal Elecfr 
AsatU Chemical 
Aschl Glass 
Bank of Tokyo 

Bridgestone 

Canon 

Casio 

Dol Nippon Print 1820 1630 
Datura House 13?® 1J70 
Dalwa Securities 1410 1<» 
Fanuc 
Full Bank 
Fuji Photo 
Fujitsu 
HifwJii 
Hitachi Cable 
Honda 
itoYokodo 
Itochu 

Japan Airlines 
Kallma 
Karaal Power 
Kawasaki Steel 
Kirill Brewery 
Komatsu 
Kubota 
Kye»ra 

Matsu Elec mas — ...» 
Matsu Elec Wks I860 I860 
Mitsubishi Bk 2460 3470 
Mltsub Chemical 5e5 570 
Mitsubishi Elec 
Mitsubishi h*v 
M itsubishi Corp 
Mitsui and Co 
Mitsui Marine 
Mltsukahl 
Mitsumi 
NEC 

NGK Insutotors .™ IUU 
NlkM Securities 1100 1120 
Nippon Kooaku 9*5 994 
Nippon 011 689 692 

Nippon Steel 390 390 
Ntoocn Yusen 648 660 

Nissan 852 843 

Nomura sec iwo Koo 

NTT 895DD 9080a 

Olympus Optical 1100 1070 
Pioneer 2520 2510 

RlCOtt 940 949 

Sonya Elec 578 578 
snarn imo 1800 

Sftlmazu 7U 724 

Shlnetsu Own 2050 3050 


422 430 

769 766 
1240 1250 
1520 XSSI 
1590 1580 
1780 1780 
1270 1280 


4680 4750 
2160 2170 
2290 2300 
1070 1070 
990 W 
857 B63 

1740 1730 
5280 5310 
742 744 

736 750 

K3 955 
2450 2470 
448 set 
1150 1150 
899 900 

720 724 

7250 7320 
1580 1610 


22 Z™ 

777 ni 
1280 1300 
853 854 
res 755 
964 979 
1440 1460 
1230 124Q 
1030 1050 


CIomPtcv. 


Sony 

Sumitomo Bk 
Sumitomo Cnem 
Sum! Marine 
Sumitomo Me tol 
Totsel Coro 
Tafcedo Chem 
TDK 
Tetlln 

Tokyo Marine 
Tokyo Elec Pw 
Toppan Printing 
Torav Ina. 
Toshiba 
Toyota 
Yamalchi Sec 
a; x 100 . 

MURW 

J&xX&xiF” 


5810 5900 
1830 1830 
554 564 

864 802 

350 3SS 
656 657 

1220 1240 
4570 4520 
572 567 

1130 1120 
2830 7K7 0 
1410 1420 
763 768 

751 752 
2110 2110 
755 755 


Toronto 


Abiilbl Price 
Air Canada 
alberta Energy 
Alcan Aluminum 37V2 37to 
Amer Barrtck 34 Vi 35 
Avenor 

Bk Nova Scotia 
BCE 

BC Telecomm 
Bombardier B 
Bromolea 
Brascon A 
Cameco 

CIBC . 

Cdn Natural Res l«Vfa 16W 
Can Ocdd Pet 31 to 32 
Cdn Pacific — ‘ “ 

Cascades Paper 
Comlnco 
Consumers Gas 
Dotosco 
Daman indB 
Du Pont Cdo A 


im ITT* 
lie lie 
Ito 19k* 


249i 25 

264k 261a 
47VS 47b 
25% 25% 
21 2IVS 
3X5 4.10 
194k 19to 
28% 28V, 
31 fk 32V. 


Echo Boy Mines 
Ire Co. a 


21 %k 22Vk 
6V. 7 

26 26 
164 1606 
2248 23 

12*6 13 

1916 19 

17V4 18 

13 13V. 
234k 23 U. 
!74k 17V. 
82 B3U 
8V: BW 
149b 15 

2 tn 21 

45V. 46VS 
-aFV 41 
284k 28H 

10V. 104k 
I6K! 1046 
32Vi 3216 


Empire 
Folconbrldge 
Fletcher ChQll a 
F ranco Nevada 
Guardian Cap A 
Hem la Gold 
Horsham 
Imaeriei Oil 
Inca 

IPL Energy 

LoWlowA 
Low law b 

Laewen Grouo 

London Insur Gp 22V. 224s 
Mocmirr BloetM lBVk 184k 
Magna Inti A 484k 4814 
Maple Leaf Fds lffV. 105h 
Moore 254b 254b 

Newbridge Netw 404u 41V. 
Noranda Inc 26% 26% 
Noronda Forest ills 11% 
Noraert Eitorgy 771* J7» 
Nttiem Telecom 481* 4746 
Nava 134k 134b 

One* 134b 134b 

Petra Canada 114b 111* 
Piocer Dome 32% 3246 
Potash Cora Sask m. 48 
Pravtua 54b 54b 

PWA 04b 0X1 

Guebecor Print 144b 1449 
Renaissance Eny 284b 27^ 
file Algorn 26 lb 261* 

Seam uni Co stm, 414b 
Stone Consoid 161* 164 m 
T alisman Eny 274* 28 

Talegtobe 164b 1»46 

Tjtol 164b 164« 

Thomson 161* loto 

TorDom Bank 201* 2046 
Transalta uu i*4m 

TranaCda Pipe 17VS 17V* 
UM Dominion 25% 26 

Uta westbume ioi* iovj 
W eal coast Env zi9b 214* 
Weston 424* 411* 

Xerox Canada B 4946 SOW 

EZZir&xijp'' 


Zurich 


CSHgldln^lB 


U.S. FUTURES 


Vie Auockrted 9m 


Oct. 21 


Adlo Inti B 214 218 

AlusulsseBnew 431 636 

BBC Brwn Bov B 1BB8 1108 

apa Getov B ® 715 


SJ 3S 

333 

1480 1470 


Elektrow 

Fischer B , m 

interdlscountB 1955 19SS 
jeimolia 556 Ef 

Nestle R 1165 1179 

Oflrllk. Buehrte R its 131 
ParaesaHidB 1475 ugg 
SctKHdgPC - - 
Sot ro R epublic 

SandazB 
Schindler B 
Sutter PC 

Sunwlllanco B .rau inn 

SiriwBnkCOTPB 368 370 

saw** m ns 

UBS B 

wiRterttiura 

Zurich Ass B liw jig 


5easar 

Hteh 

Season 

Low (tan 

High 

Law 

aow 

Ota 

Opjnt 


Grains 




WHEAT (CBOT) I.MBbu>nlniniu>n-<**km*rMnol 




389 Dec 94 19? 

199*. 

196 

197V. -082 '* 39,150 

A26to 

3X7 Mar 95 609 

AlOto 

487 

609 

—0.01 to 22.974 


JLI6ViMay95 Itth 

■iWto 

183 

IS* 

-vat. 

6045 



3X4 

141 to 

152V*-OXDto 

9JW 


151 Vj Sec 95 3XSto 

15* 

IMto 

156 

-080V. 

233 



165to 

144 

1*4 

-081 to 






lXIto-aoato 

6 

Est. sates NA Thu’s, senes 

17,176 





Thu'S OOfnlru 75.^37 up 23 





WHEAT (KBOT) AMnbu rrisn™,,. oaten Hrtniihel 



A23to 

112V,Dec94 4869, 

609 

486 

606’A— (LOIV. 19X02 

4X7 Vi 

135 PAarK 612V5 

6121* 

4896* 

610Vi— OXTU 12,929 


121V. Mov 95 U0 

190 

IMto 

289to-OXOV. 

1X11 

368to 

116toJul95 3X8 

ISO Vi 

157W 

15764—080’" 

3J91 

177 

139 SCO’S 






3X0 to Dec 9S 



lor*— ado'* 

4 

EsL sates NA. Thu's-soles 

5X16 





Thu's open Inf 37X15 off 126 









177 

IUUDk’M 117\4 

2.17Vi 

1141* 

2.141k— 0826*120X87 


123'*Mor95 12814 

Z38to 

125V. 

23* 

-082to 56X43 


2J0toMav«5 136to 

2X7 

234 1 * 


24X03 


13SL.JUI9S 2X2to 

2X7to 

2X0 

2X0 V* -0X2 

28X24 

2.701* 

139 Sec 95 2X7 

147 

14SW 

2Xito-atnto 

2JS0 

263 

125toDeC?3 2Xl*i 

2X2 

2X014 

2X1 

—0801b 11,936 

2XB 

ZJOViMo-W 2X8 

2X8 

2X7 

2X7 -081 

232 

165 

2X5MJU1K 264 to 

LMto 

2XJto 

2X4 

-081 

336 

ES*. saws NA Thu’s, sates 

44X58 





Ttw's cpan jrt 245X14 un 3487 





SOYBEANS (CBOT) SXnDununinwn-aanncarbiiiliel 


7J7to 



546 

5X8to-OJJl 

57,783 

7 04 



5X8 



27X04 

785 

S47V.Mnr95 5.®to 

571 "A 

5X7% 

STOto— 080to 20X88 

785to 

5X6 May 95 5J7to 

579 

4J5to 

5771* — 0804* 10801 

>86to 

5XJV:Jul9S 5X4 to 

S86to 

582 

5X4^ — a 00 to 16X82 

612 

546toAuo9S 588 

58B 

UttVV 

588 -080V* 

1834 

615 

571 5*o 95 589- 

589V, 

5J7to 

589 -081 

359 

ftXOto 

67BV. Nov 95 59»to 

5.9?to 

5X6 


7,912 


600 Jan 96 607 

687 

684to 

686 -OXlto 

85 

621 

599toJuf»6 



617V.-0.02to 

27 

Est. sates na Thu's, stfes 

53306 





Thu's ocen bit 152.146 in> 1125 





SOYBEAN MEAL (CBOT) inuntounpiru, 



20980 

16OJ0DK94 16670 

16680 

16160 

16370 

-0.90 43,708 

207X0 

16130 Jon 95 16190 

16190 

16690 


-070 16757 

207X0 

164.90 Mar 95 168.90 

168.90 

16880 


-0*0 14874 

20780 

16780 May 95 17180 

17)80 

17180 


-030 

7X»2 

206 00 

170J0JUI9S 17130 

17150 

'.7480 

I75J0 

-050 

7X51 

18260 

172X0 Aug «5 177X0 

17780 

176X0 

176X0 

-OX 

1X95 

18270 

1713059095 17880 

179X0 

17120 

17&XD 

*035 

1857 




18080 




18380 

176X0 Dec 9S 182X0 

l«2JQ 

18230 

182X0 


BC? 







Thu's core Jnt 95.121 afl 306 





SOYBf N (XL (CBOT) (ASH la- aglera w loom. 









28X5 

2265 Jan 95 25.10 

2S.15 

2689 

25.13 

♦ 0.14 12,957 

2830 

2191 Mo - 95 24X7 

24X7 

24X2 

2657 

+087 12,9*9 

2885 

2285 Mav 95 24X0 

74X0 

2489 

2622 

♦ 085 118*1 

2785 

2276 JUI 95 2600 

2610 

2189 

ZLH 

♦ 082 

7X?0 

2730 

2273AUB93 2190 

2SJB 

2385 


♦aw 

1,99* 

2475 

22.75 Sec 95 2190 

24X0 

2180 

2385 

♦008 

1X86 


22750(393 2380 


2180 

2180 

♦005 

1X72 









29808 





Thu'S open bit 83J66 up in* 






Livestock 









7610 

65X0 OCf 94 6630 


6630 

6882 

x-n 

99? 


67X0 DM 94 6987 

70X0 

69X7 

70.17 

-OX 30JV5 

7435 

66UF8P95 6673 

6985 

66X5 

66.97 

-035 17X05 

75.10 

67X7 Apr 95 6875 

6980 

4U7 

68.97 

♦ 037 1—308 

69 JO 

6620 Jun 75 65X3 

6145 


65X2 

♦am 

3X8* 

6610 

*160 Aug 95 A6JD 

64X5 

6635 

64X5 

♦OOG 

1X67 

67X5 

66200095 *5X5 



fiiX 


238 





Thu'sopsn ini 66*496 up 313 





FEEDER CATTLE 





70.95009* 7287 

7100 

72X5 

7275 


1,222 


7175N0V94 74J0 

7A40 

7615 

7627 

♦ 030 

6X7 

8075 

71 .40 Jan 95 7187 

7620 

m 7 

7612 

*132 

1.866 

8QJS 

7035Mar93 72X7 

72X7 

7120 

72 XC 

♦ OI7 

794 


7a 10 Apr 93 7175 

71.90 

71 XI 

7185 

♦033 

467 


4980M«y95 71X5 

71X5 

7130 

71X0 

♦OX 

325 


6980 AUO 95 71 JO 

71.40 

71.10 

71 JS 

♦aia 

SO 

70X5 

69X0 Sen W 



70JO 

♦n w 

a 

EsLsttos UD TlM'i.Kses 






Tlw's open tet 9.059 ofl 23* 





HOGS (CMER) 40800 per B 







31X0 

36.90 

3082 

♦ 0.12 

375 


3107 Deb 94 31*5 

3375 


nro 

-0X3 18X50 

S0J0 

35X5 Feb 95 36X5 

36X5 

3615 

3630 

-035 

7,159 


36.10 Anr 93 3675 

3680 

3635 

3632 

-0 .« 

1972 


61X7 Jun 95 4135 

42J5 

4182 

4280 

-a« 

1,742 

ak na 


4115 

4187 

41.95 

-ox 

SIB 



41X5 

4130 

41^5 

-050 

320 


38JOOct«5 38X5 

38.95 

3835 

38X5 

-OJO 

262 


39.00 Dee 95 VM 

39X5 

3935 

3135 

-085 

31 

Est soles 6054 Thu's, saes 

4X/6 










PORKBELLES (OABU 4U00K- 

■nttn; 

b 





40X0 

3987 

3975 

-180 

8X13 


32AMor«5 40X5 

40X5 

39 JO 

29J93 

—180 

94P 



41X0 

40.15 

40.95 

—OJO 

290 



4150 

4135 

41X0 

-075 

281 

6600 

3875 And 95 41X7 


4T.1S 

41.IS 

—045 

64 

Est. sates 2,105 TTkixsaes 

2X41 





Thu'S OPW) Ihl 10.197 OR 6« 






V*5 
98 100 

446 647 
6800 7050 
860 867 
1750 1760 


B9* 820 

1239 1245 
627 633 


Food 

MfTEEC (NCSB 97JMns-ae<iiPMlL 

SjS 77.10MC94 199.00 JOOfl IWM 

MAOO 7B.«Mor9S 20U5 20AM 1*9X0 

SUX0 HXOMoy9SM4JO 307X0 SOBS 

2*5.18 8kOOJU<9S m35 2g^ ffiOO 

185X0 Sep 95 30800 ML* MJ5 
3001 HJ0Dcc95 JO? JS 209JS 207JI0 
101 W 197X0 Mar 96 
Bit. sates 5J61 Thu’s, sates 4j*3 
Tte/smnM 3X344 oh 415 
SUGAR -WORLDH (NCSE) IlJXnbSrCeni 
nSlW7Mi*-95 12X1 IkM If® 
12J5 1X57 MOV 95 12JB TJfl JM9 

12J5 I0J7JIP9S 12X6 12® 12J 


1KXJ 

200.45 

W1K 

701X0 

20275 

206X0 

206JB 


12JO 

1271 

1240 


— 7.10 1X390 
—6.90 11.904 
—6X0 4X85 
-6JB IX* 
—803 0 (2 
—400 8fl 
— 6J0 IM 


-0J« 91794 
-AM 2X093 
— (LOS UJM 


US T. BILLS (CMERI 

llme*»0N«IMBpcl 


9010 

9625 Dec 94 

9659 

9661 

9657 

9659 

9585 

9l9SMar9S 

9489 

9612 

9688 

9611 

9434 

9164 Jwi95 

9163 

93X8 

9163 

93X7 

9157 

9155 S» 95 




9134 


17X369 

4X04 


Financial 

1 

17724 
Ml 9711 
ftm X9M 

BLsetes NA. IWs. 2J797 5 

Tiki's eeai int 30,904 up 62 

5«'?L 7 ?^? ,RV IOM7T) ilogxtoprte-i-ikJSBd.onaope, 

104-M IU1-Q5 Dec 94101-195 101-14 101-16 101.215. 01 i 
103-WJ00-2a Mar 95)01-02 101-02 MO-29 101-Oli- 013 
Est sates NLA. -nki*s.iau 69J96 
Thu’s ooenlrtt 1*3.971 up 6274 
10 YR. TREASURY (CBOT) iiUMMunn-on AJbvbiPIOOBef 
JJf-S '2Hi DM94 100-21 100-26 100-12 100-21 * 02 75B.2H 
!li-SZ 2 -13 Mb- 95 99-27 700-00 99-21 99-29 ♦ 02 BJS* 

“-22 98-24 Jun 95 99-05 99-08 W-03 99-08 - S3 101 

m-06 98-M Sep 95 98-17 ♦ 03 ! 

110-31 98-10 Dec 95 98-00 ♦ 03 

Efl.soles NA. Tiki's. sales 11X846 
Wsooeninl 264,745 up 7949 

BONOS (CBOT) n*a-snLODMant3MtetigOBal 
IfB-05 91-19 Dec 94 97-21 97-30 97-11 97-29 * 09 40X071 

llt-20 96-15 Mar 95 97 -SO 97-10 96-23 97X8 - 09 37X91 

I S- 19 96-00 Jun95 98-07 96-M 96-07 96-20 * 09 X1JJ5 

]W-JS K-M Seo 95 95-22 9642 05-18 WWB - 09 257 

•IJ-J4 95-08 Doc 95 95-14 »5-17 95-10 *5-17 * 09 121 

116-06 95-17 Marto 94-27 95-01 94-20 95-01 ♦ 09 « 

J00-20 94-0$ junto 94-11 94-18 94-W 94-18 - 09 28 

ga.stees NLA Thu's. SOUS 490X77 
TJWsooenint 439x55 up 5578 

MVtOaPAL BONDS (CBOT) tlMbilnilea-anklBMtalHQiKI 

H*E D6C 94 85-24 86-00 85-13 85-27 * Hi 30X35 

68-09 OMR Mar 9584-15 84-25 84-13 84-24 . 06 383 

SS-TAtel NA. TtortLSOtel 4 J07 
T tortgkr iiwi 30X18 on u 

gSOwkUIB (CMES) slnMoMnetinDei. 

*5-125 25^10 Dec « 94X00 94J30 9X970 91000 447.913 

9U80 90J40Mar95 93J60 73X00 93X30 93®0 +104D3AJ4 

94J30 9OJ10Jun73 91110 93.150 91070 9X120 -1030X119 


1 Season Season 






Hgh 

Low Open 

High 

Law 

Oose 

Cho 

Opjm 

12X4 

10J7Oct95 1235 

12X6 

1120 

1112 

-082 12X11 

1107 

laMMcr 96 1189 

11X2 

1184 

1184 

-1US 

IJ6B 


11.10 MOV 96 



1184 

-08B 

43 

1188 

11 JO JK 96 



1184 

—082 

5 

Est. sates 9X70 nVcsote 

12J0J 




Thu's open irtt 146,578 up 2343 





COCO* 






I D41 Doc 94 1335 

1352 

131* 

U18 

-22 29,750 | 



1395 

1362 

1366 

—19 21,999 

1*12 

lOTQAAoy 95 1415 

1422 

1393 

1394 

-19 

6105 

1600 

IZUJulK 1440 

1440 

1420 



3X31 

1560 

1380 Sen 95 



1447 

— 20 

1X46 

1635 

1290 Dec 95 1*96 

>5® 

747B 

7480 

— 2S 

6954 

1676 

1350 Mor 96 1510 

1519 

1510 

1510 

—28 

X7D3 

1642 

l22SMoy96 1535 

153J 

1535 

1537 

—IB 

312 





1557 

— « 

1) 

Ett.Kkes I2JM Thu'Aides 16071 




Thu’s open mi 71210 Ott 590 





ORANGE JIBCE (NCTN) 164DI U.- am her fe 



13600 

858QNov«4 1DBJ0 

10875 

70680 

108X5 

— 1X5 

5X17 

13200 

8980 Jin 95 1)180 

113X0 

109X5 

11125 

— lid 11836 

12625 

938QMcr 95 I14J0 

11580 

11150 

11X10 

—1X0 

5X90 

13080 

97.00 Mcv 95 117X5 

11880 

11780 

11880 

-1X5 

1X96 

12280 

100JD Jul 95 12080 

12080 

11980 

120X0 

-1X5 

836 

12580 

1073SSap95 12150 

12150 

12380 

123X0 

-6H 


124X0 

10980 Nov 95 12380 

12380 

12X00 

12X00 

-IXS 

7,124 

12780 

10150 Jon 96 



12380 

-3X0 

402 


felOTM 



12135 

—625 


Esi. sates NLA. Thu's, ictea 

5390 





| Thu’s open 25X85 up 734 






Metals 




HI GRADE COPPER (NCMX 

XBjaa ftv- P*r ■». 



122.10 

75800(5 94 11780 

11980 

116X0 

110X5 

+0X5 

1X23 

119X0 

77J5NovU 11680 

11080 

I16J0 

11785 

—OJO 

1 .SOB 

12030 

7 ITS Dec 94 11115 

11830 

116X0 

116.95 

-OXS42J97 

119X0 

7690 Jan 95 11635 

11635 

11615 

1)6X0 

-045 

870 

117J0 

7100 Feb 95 



11690 



118X0 

7100 Mar 95 lleJU 

116J0 

114X0 

1I5J0 

-OJO 

8X15 

11650 


11130 

11630 

11670 



11610 


11675 

11650 

11600 

— LIS 


115X5 

104.1 OJun 95 11610 

11610 

11610 

113X5 

—US 


11610 

7B80Jul9S 11150 

11360 

11350 

11280 

—US 


11590 

111X0 Aug 95 



11135 

—1X0 

iaa 

11580 

79-lOSep 95 



11180 

-ixs 


11 675 

68.00 Dec 95 11110 

111.10 

11X90 

11120 

-1X5 


10880 

WJ0Jfsri96 



109X5 

—140 


11180 

62J0Mar9S 11(175 

11875 

nan 

10170 

-145 


ID? JO 

10780 May 9* 



107 JO 

—1X5 



JK96 



10670 



Esl. sates 12,000 Thu's, sates 16X02 




Thu's open IM 63X52 UP 1874 





SLVEH 

CNCMX) UdOrrovoL-contspriravcEL 







S79J 

—108 



NOV 94 



SOX 

-1)8 



3808 Dec 94 5428 

5438 


53X5 



«18jCTl9i JW.0 

5408 


5361 

-118 

1 

6060 

41 6J Mar 95 5508 

5X2J 

5485 

5418 


6065 

41 08 Mav 95 5560 

5588 

5478 

5478 



£100 

•008X695 553.0 

5580 

5510 

55X2 

—11.7 

3X43 


532J5ea95 5610 


5638 

559X 

— U J 



539.0 Dec 95 5760 

5753 

5708 

5698 

—118 


6128 

5758 Jon 96 



yio 




5560 Mar 76 



snj 




5B78MOV96 



587J 

— 11X 



Jul96 60)8 

6008 

6008 

5961 

— ilx 


Est.sdes 21X00 Thu's. sMes 24X28 




Thu'S Open Int 111X45 oil 558 








435X0 

366000094 43580 


42600 

42690 




37480 Jot 95 43650 






3908QApr95 42580 

05.00 

430X0 

430.70 




419J0Jur95 



43690 


946 

43650 

622800095 



08.90 

—120 


439 JO 

6JPJDJ01M 



4*7 M 

-220 


Esc soles na. TN/vaMes 

7,751 










GOLD 

NCMX) uonyK.dsknw 






346000094 391X8 

39180 

391.10 

39080 

—OJO 



Nn/94 



391X0 




34100 Dec 9 J 39150 

39380 

19280 

3*280 



36X50 Feb 95 39680 

397.10 

39580 

39630 


<17.00 

36650 Apr 95 400J0 


39980 

399 JO 

— QXD 


42650 

36180 Jun 95 40lxa 

403X0 

403X0 

4050 


414J0 

KUO Aug »5 



407X0 

-0X0 



401800a 9S 



411X0 

—OJO 









424J0 

4l2J0FehM 



419.90 



43030 

41 830 Apt 96 



42600 




41100 Jun 96 



428X0 




Aug 96 



43160 



ES. sates 21X00 Thu's, sdtes 32X83 




Thu’s open bn 157872 up 1782 






Season Season 
High Low 


Open High Low Close Chg Oo.wi 


24X101 

176X45 

152X7 

-1012X984 

—10117,214 


—52 44875 
—54 474 

-56 I 


Q7038 Dec 94 07369 

07407 

07361 

W4B 

♦36 34X79 

DJQ20MCT95 07361 

07405 

0.7361 




0X090 Jun 95 07350 






04965Sep95 



07381 

♦ 36 

566 

OJOiODecK 



07365 

♦ 36 

62 

Mar 96 



0J347 

♦36 

1 


94X90 9U105BP95 9X770 72X00 9X730 72770 

94X00 91.180 Dec 95 9X450 9X490 9X420 92X40 

94220 9L750Mar96 9X380 9XA10 92340 9X380 

91180 9X250 Jun 96 9X268 9X280 9X220 92X50 

9X570 9X1505*0 96 9X160 9X180 9X120 9X150 

Ea safes NA. 71xrs.stem 615J20 
Thu's open kit X576J27 up 17451 
OMTBHPOUNO (CMEH) lurnm- 1 nnMumi 
1X314 1.4500 Dec M 1X298 1X324 1X218 1X254 

1X310 1X640 Mar 95 1X260 1X300 1X210 1X238 

1X260 1X148X4195 1X202 

Est. soles NA Thu'S. MUs 15,788 
TWsaomtm ssjst up 2112 

CANADIAN DOLLAR (CXAER) inrW-IDBWMuMsUUDOl 

07670 ' " 

07405 
Q7522 
07438 
07400 

Esl sates na Thu's, sates 2JD1 
Thu’s ooenmt 37,112 up 142 

GDtMANMARK (CMER) lew mo *- 1 mtooi 

0X712 0X590 Dec 94 0X701 0X719 0X656 06671 -31 91JU5* 

0X723 QJBlOMarH 0X730 0X730 064*5 0X683 

0X730 Q-WSOJunTi 0X686 0X686 0X686 0X698 

0X740 0X30 Sep 95 0X715 

Est sates NA. Thu’s sales 34X151 
Thu’S OMnim 96.104 otl 19 

»**■ 1 *a<w»i 

(L010*mU»7525Dec94 an (03400 H 1 aWTill 030KUi ! !D43 
. 0X1 054QUOH8QMarV50L01049SUn 04750X1 03950010426 
OX10e700X09776Ajn 95 0X105380X1053800105101010528 
OX1d775QX\0200Sep 95 0X1062* 

0X107200X10441 Dec 95 0X107*00X107600.0107150010725 
Eststees NA Tlw's. soles 27762 
Thu's open tel 65,127 up ijw 
SWISS FRANC (CMER) 1 wr em- 1 p«M muou UABOI 
0X105 OMRS Dec 94 OEMS 0.8105 0X010 0X029 —62 42XS9 

M2 SHEW? Mil* EXOM 0X062 —62 KI6B 

H!2 °- BWe M16* 0X090 08102 -41 125 

0X150 OX1 30 Sep 95 0X140 —68 * 

ESI. soles HA Thu'S. Kfles 18X50 
Thu's Open In 1 44,186 UP 1036 


—31 4356 
—32 577 

—32 112 


—I 57X77 
*414 
*2 442 

*4 179 

.6 17 


Industrials 

COTTON 2 [NCTN) 9xnta.. C Min’fe. 
7735 59X8 Dec 94 6932 

73.15 62J0Mar95 839 

78J5 64X0 May 95 71.S8 

7875 6730 Ju 1 95 72X0 

74.70 66X0 Oct 95 69X5 

72X0 6625 Dec 75 69X0 

70.00 66X0 Mar 94 69X5 

EU.stees NA Thu's. sates , 

Thu's open Int 50.1 S3 an 396 
HBATmOOE. INMER 
5830 4600 Nov 94 

59X0 46X0Dee94 

6235 4325 Jan 95 

5875 42.95 F*b 95 

57 JO 47X0MOT95 

SklS <3.05 Apr 95 

53X0 4679 Jun 95 

55x0 4270 Auo 95 

54X0 46X0 Apr 96 


6940 

6684 

69.10 

♦ 084 23,590 


70X5 

7063 

+ 62X4 12,730 

nos 

/'JO 

71X5 


6864 

7170 

72JS 

7130 

♦on 

6l2i 

6985 

6985 

69 JO 

—020 

5S 

49X5 

4680 



2JU 

69X5 

5,123 

6985 

69 JS 

+0X5 

13 

pak awn per ael 



51 JO 

48X0 

48X0 

—184 19JM 

51X0 

«J0 

4670 

—1J3 4SXH 

ST JO 

49 JO 

49X0 

—148 32,930 


6940 



57X0 

50.00 

5000 

—0.91 11JH 


69X0 



7XK1 


49X0 

49X0 

+612 

6J19 

®J0 

50X0 

50X0 

+642 

1485 

67X80 

52X3 

52X5 

-0X3 

70 


y«rr SWEET CRUDE INMER) iJmnbL-dgtenn 
»“ 14X3 Dec 94 17X3 17,76 1732 T7J| 

lL15Jon9S 17X5 17J7 17^ j? M 

ISJ8FH0 95 17X2 1773 17X0 7^ 

15X2 Mar 95 17X2 17X8 17 A XJM 

»J5AprM 17X7 }7% i 7 % 

J 5X9 MOV 95 1JJ9 {jS yj% 

1573 Junto 17X7 I7J2 {,« 

16XSJUI9S 17X1 jS ^ 

1616 Aug 95 17J9 17X8 Tjf 

i7X4 !j| \i I 

-7.70 1770 \1$ KS 


20X0 

19X5 

19X0 

20X6 

19X1 

19J6 

20X0 

19X7 

19X7 

18X0 

19.17 

20X0 

21.15 

18X6 

18X0 

1817 

28X0 

18X7 


,W * ,7 -** 17X8 17X1 

17X8 
17.71 


17.1SMOr9b 
17X7 Apr 95 

"■» 77JS 17 75 17177 


17.93 


- — 1638 Sep 96 

sales NA Thu’s, soles 144,744 
Tnu'SflMnkir d04,u& off 17377 

56xo S3 

5M0 Kit 1 Jan 95 56X0 S7J5 54 to « in 
Sl.lOFjtafS UXO 53X5 S3J5 Ml 7? 
52X0 Mir 95 SiS SA UK m 
5633 ACT 93 S8J0 % * 

KJ0Juf5s >S nS IP ^ 

OgOdW S12Q SUO Sao 
nSSew S-g 52X0 

s."so« SjL n “ ** 

TIUrtflpenW 72.a 


58X5 

5695 

60J0 

58JD 

57.94 

56J5 

asjs 

55X0 1 
5675 


—0X4110X20 
—020 60X99 
—0.17 29J41 

-&16 23X& 

-a 14 >8025 
-0.13 11XH 

-412 22J9J 

-an I2XN 
— 8 ID 4X50 
-0X9 

—808 5X62 
— OXB 16X55 
—CUM 8026 
-an ix6i 
-ao8 «« 
-an it 

-8U 15X13 
-006 


'BN 

—115 16775 
-1X0 23,968 
-1.10 16X09 
—7.10 AX 
-0.75 82W 
—1X3 4X58 
-1X3 TAP 
* 1.12 

-OJO 414 

-030 

-030 

-030 121 


Stock Indexes 

fi-wm aarsu 0 -ok 

S assay ""Mi 

Ea »tei 46 ^6. S8 Th^i. sd« a»j5o **■ 

Thu'ioognM jib.wt — a«E 

H iiH " ^ ^ 

ms. ^ 




—1X1217X19 
-1X5 11X6D 
—1X0 2X11 

-us a 


-05 J 801 
—OSS 19* 
-OS5 67 


«wdrs 

Reuters 
DJ. Futures 
wm-Reseorch 


Commodity Indexes 

,-SfS? PfWtou* 

1JS640 

Z08SJD 10813 0 

231X3 Sift 





INTERNATIONAL HERALD TRIBUNE, SATURDAY -SUNDAY, OCTOBER 22-23, 1994 


Page 11 

EUROPE 



Scope Widens 
for Bundesbank 
To Lower Rates 




■ "K 


Kill.:'. 

firti 

J, 

«» »!., J . 

fll 

’ W I; j . 
Jr 1 1 .* 

. 

BVr i, 


<55j* 

:: - it • 


- «.,? 

■■■■ \. ■ 


.,3 

is 

4^ 




t-Hr 




* i Wl;,„, ; p 

Profits 

d Jft; .- • ■ “ i ,i.^ 

*.. . ' • • ‘•‘•ifli. 

•' • ..... V ,1 ;t jv. 


.* i s ‘ .i . : ^ 

*»*W . r - 

S? *«*-•-: • . CVc.:J?? 

• ' 5 •=■ -Sr 

**>*'■: v 


?**H eV^.v .,vi- - 

** f y W>. 

St.6,. K ::, (: . S^raftai 

■ ■ ■ • ; ■ ; i k.li ■ 

rl-Karnm^ 


a»id '1;^^: 

»i .i> 

:11 V ! «*E£ 

* iraM <%vj srr; v, 

fi’%; r-*. *•• : . w. 

»uine thr . . - •, '"••• 

*. «* k.-/.-;- 

— 


m>pean Batten Fin 

IS ,k.-j!c. It*.; 

fts 

? 4'Aumv.. VY 

*f. f*» S! \ h ■■:. 


in v. l: - 


i"i! Ns ; 


id * ir: :ri • v : ;■ • a. 

* I m«. v<v •• c * .: !u:Sf*i 

AttfUiA- ••.!.' •.■’*' 4 :r.-:i ,~s; 

*?l» 


t str« !niAir. .--.ife 

fi> V-f •• • 

. ■’. • ■ ■■••••■ v % * 


we 


r * «- • 

•i r-c . 


43t*0w 
1 *o- ■■- • 


Wu 

» • ^ * 
5T. • 

at 'i** ■'*" 


£ r 


4 


^y^RAUEt : 

I - w • 

J - 


i«3T» nr *’ ■** 1 

«s« ^ - 


s ^ - •■■»••■ • . 

- vt • ■»• 

■* **• ' . 


»n«lus*« oS 


« y 
ci tf '* 


/Sw*** *■*'’* 

• * ”4 ^ 


By Brandon MItcbener 

. Inlrmaxioaa! Herald Tribune 

FRANKFURT — The 


German bonds rose to 8.01 per- 
cent, its highest level in more 
than two years. 


Bundesbank reported Friday 
pply 


that the M-3 money supply 
grew at a slower pace last 
month, confirming a trend that 
economists feel could increase 
the bank’s scope for cutting in- 
terest rates further. 

The central bank said that 
the money supply expanded at 
a seasonally adjusted rate of 7.7 


The M-3 money supply fig- 
cash in cir- 


ure, which includes 


dilation, sight deposits, time 
deposits under 


percent in September, down 
from 8.2 


• •:■ -Sr *****'• 

■‘« n ' - ..'.'t^ksn 

^ ^ 

rUv'.. 7 .i V :-i ;.i 

iftu-t; , 'J** 


percent in August and 
9.8 percent in July. 

Over the last six months, M-3 
expansion has slowed even 
mare substantially, to a season- 
ally adjusted rate of about 2.9 
percent. 

Despite the slowdown, Ger- 
man stocks and bonds went 
into a taflspin, in part because 
financial markets had speculat- 
ed on an even greater improve- 
ment in the M-3. 

German blue chip stocks fell 
sharply, while the benchmark 
average of yields on long-term 


Jer four years and 

most savings accounts, is the 
crystal ball that the Bundes- 
bank routinely consults for 
dues about inflation. 

Together with a strong Deut- 
sche mark, lower increases in 
consumer prices, and fiscal and 
wage restraint, a slowdown in 
monetary expansion has long 
been one of the Bundesbank’s 
prerequisites for a further eas- 
ing of monetary policy. 


Given that all three prcrequi- 
: of bang 


Hochtief Weighs 
Hofornann Stake 


sites show promise of bang ful- 
filled, the likelihood of another 
cut in Germany’s leading inter- 
est rates by the end of the year 
seems to nave increased. Rales 
have been steady since July. 

“If money supply continues 
growing at this rate, by the end 
of the year it would be below 7 
percent compared with the 
fourth quarter of 1993,” said 

A rmin Ka\ 


ayser, a senior econo- 
mist at Swiss Bank Corp. in 
Frankfurt. “Annualized, it’s in 


Italy ’s Bank Hangs Tough 

Will Berlusconi Back Its Nominee? 


Compiled by Our Staff From Dispatches 

MILAN — Analysts are predicting that the 
government of Silvio Berlusconi, wary of risk- 
ing a full-blown institutional clash with the 
Bank of Italy and rattling financial markets, 
would ratify next week the centra] bank’s own 
nominee for its No. 2 position. 


They .backed up their assertion by noting 

tith 


that Mr. Berlusconi already had dashed wit 
another Italian institution' regarded as inde- 
pendent and popular, the magistrature, and 
that it would now be politcally dangerous for 
the prime minister to take the bold step of 
rejecting a Bank of Italy nomination. 

The five-month standoff has been seen as a 
test of wills between the central bank, which 
nominated an internal candidate for the job, 
Vincenzo Desario, and the Berlusconi govern- 
ment, which wants someone from outside the 
central bank to fill the position. 

Indicating that Mr. Berlusconi’s hands may 
be tied for now, Mario Noera, chief econo- 
mist ar Deutsche Bank in Milan, said, “It’s 
too risky now to put into question the Bank of 
Italy's superior council.” 

On Tuesday, the superior council, chaired 
by the central bank governor, Antonio Fazio, 
nominated Mr. Desario, one of two deputy 
director-generals, to the No. 2 spot. His ap- 


Bank of Italy employees threatened Friday 
to go on strike to back the central bank in its 
struggle with the government over the ap- 
pointment. 

The FABI trade union, which represents 
4,000 of the bank’s 9,700 workers, urged the 
cabinet to ratify the choice of the central bank 
□ext week and said that it would strike if it did 
not. 

The FABI secretary, Luigi Leone, said that 
it was wrong for the government not to “real- 
ize that the autonomy of the central bank 
represents a guarantee for the government of 
a country — progressives, conservatives or 
whomever.” 


Mr. Desario, 61, has been viewed as a 
compromise candidate because the bank's 
No. 3 official, Tommaso Padoa-Schioppa, is 
seen by government officials as too ideologi- 
cally close to the left. 

But even if the government ratified Mr. 
Desario, it might eventually try to push 
through major changes in how the central 
bank operates and how its top officials are 
chosen. 


pointment must be ratified by the cabinet and 
President Oscar Luigi Scalfaro. 

The 
poinn 
job hf 
berto 


The cabinet is expected to review the ap- 
pointment next Wednesday or Thursday. The 
job has been vacant since May, when Lam- 
Dini became Treasury Minister. 


These could include measures to limi t the 
terra of the bank’s governor — now a lifetime 
appointment — and remove the central 
bank’s supervision of the Italian banking sys- 
tem. Such moves could add to already tense 
relations between the Bank of Italy and Mr. 
Berlusconi’s administration. 


( Knight -Ridder, Reuters) 


U.K. Growth 
Eases Up in 
3d Quarter 


Reuters 

LONDON — Economic 
growth slowed in the third quar- 
ter, but the government wel- 
comed Friday’s data, railing the 
rate “healthy and sustainable.” 

Gross domestic product grew 
by a seasonally adjusted 0.7 


percent in the third quarter, af- 
‘ me second 


ter 1.1 percent in 

quarter, the government said. 

The year-on-year growth rate 
slowed to 3.6 percent in the 
third quarter, after 3.8 percent 
in the previous period. 

The rapid pace of growth in 
the second quarter was a big 
factor behind the government’s 
decision to raise rates by half a 
point to 5.75 percent on Sept. 12. 

The chancellor of the Exche- 
quer, Kenneth Clarke, said he 
was pleased with the slightly 
slower but still respectable 
growth rate indicated by the 
provisional third-quarter data. 

Noting that inflation was at a 
27-year low, he said: “Month 
after month, the figures continue 
to confirm this picture of healthy 
and sustainable growth.” 

David Kern, chief economist 
at National Westminster Bank, 
also welcomed the third-quarter 
figures. “The economy is grow- 
ing about right,” he said. 


Investor’s Europe 


Frankfurt 

DAX 

230D - - 


London 
FTSE 100 Index 

m ... ... - 


Paris 

CAC4Q 



ISM 



Exchange 

Index 

Friday 

dose 

Prev. 

Close 

% 

Change 

Amsterdam 

AEX 

399.85 

403.37 

■0.87 

Brussels 

Slock Index 

7,157,91 

7^10.13 

-0.72 

Frankfurt 

DAX 

2,022.22 

2069.95 

-2J1 

Frankfurt 

FAZ 

765,72 

780.22 

-iJBS 

Helsinki 

HEX 

1,94433 

1,951.41 

-0J35 

London 

Financial Times 30 

2^33.70 

2^5620 

-0.95 

London 

FTSE 100 

3,032^0 

3.06320 

-0S9 

Madrid 

General Index 

293.59 

296.08 

-0.84 

MU an 

MIBTEL 

9^49.00 

9,900.00 

-0^2 

Paris 

CACAO 

1^42.09 

1.867.37 

-1.35 

Stockholm 

AffaeravaerkJen 

1,877.70 

1,893.45 

-0^3 

Vienne 

Stock Index 

417.67 

426.38 

-2:04 

Zurich 

SBS 

884.09 

902.66 

-0.85 

Sources: Reuters, AFP 


Internal K«ul Herald Tntanr 

Very briefly: 


Bloomberg Businas Hens 

FRANKFURT — Hochtief 
AG, the second-largest German 
construction company, may 
want to acquire a controlling 
stake of 30 to 40 percent in the 
market leader, Philipp Hob- 
mann AG, Hochtief's chief exec- 
utive, Hans-Peter Keitel said. 

Last month, Hochtief said it 
was raising its stake in Hob- 
mann to 30 percent with the ac- 
tnnation of a 10 percent stake. 
Holzmann’s chief executive, 
Lothar Mayer, said in Manager 
Magazine that Hochtiefs move 
would “violate the anti-cartel 
law in many places.” 


the 4 percent range. That will 
damp inflationary expecta- 
tions.” 

The Bundesbank’s stated 
goal for 1994 is to keep the 
seasonally adjusted M-3 expan- 
sion rate between 4 percent and 
6 percent. While that goal ap- 
peared distant only a few 
months ago, it now seems to be 
coming wi thin reach. 

On Thursday, the Bundes- 
bank president, Hans Tiet- 
meyer, said the direction of fur- 
ther interest rate changes was 
“open” compared with the An- 
glo-Saxon countries, in which 
the only question facing mone- 
tary pobciyinakers is when and 
how much to raise rates. 


BRAZIL: Increasingly Competitive Exports Indicate a Focus on Quality 


Continued from Page 9 

largest economies — Argentina, 
Brazil, Colombia, Mexico and 
Venezuela. 

Productivity levels averaged 
slightly less than half of United 
States levels, but Brazil came 
out on top. 

Brazil’s steel industry, the 
biggest in Latin America, has 
doubled ^productivity since 
1990, attaining annual produc- 
tion of 315 tons per worker, 
which is dose to Japanese lev- 
els. 

At Caterpillar lnc.'s Brazil- 
ian subsidiary, a six-year, $300 
million investment has cut the 


average assembly time for a 
tractor to three days from five. 

At Marcopolo SA, the 
world’s third-largest bus manu- 
facturer, productivity has tri- 
pled since 1987 at its plant in 
southern Brazil. 

“People have stopped hold- 
ing their noses at Brazilian 
products,” said Luis Jimenez 
Roman, industrial manager of 
the Brazilian subsidiary of 
Stanley Tools. 

“When we stalled exporting 
five years ago, at least half of 
our products had to go out 
without the label ’Made in Bra- 
zil’ *' Mr. Roman said, because 


customers did not want the ori- 
gin identified. Now, he said, 
only one Chilean client wanted 
the label left off. 

The cumulative effect of this 
industrial efficiency drive has 
shown up in Brazil’s trade sur- 
plus, which is the world’s third 
largest after those of Japan and 
Germany. 

Economists predict that Bra- 
zil will become an increasingly 


muscular player in the intema- 
tramng arena. Antidpai- 


tional 

ing continued strong domestic 
sales as well as exports, Brazil's 
auto makers plan to increase 
car production to 3 million in 


1996 from 1.4 million last year. 

Brazilian companies also find 
themselves in a better position 
to invest for overseas competi- 
tion because their debt loads 
average a third of those carried 
by their U.S. and Japanese 
competitors. 

As a result, manufacturers 
are looking beyond their tradi- 
tional markets. “We are now 
well situated in Europe and the 
United States, and are moving 
into South Korea,** said Luiz 
Fernando Antonio, interna- 
tional operations director for 
the Ford plant, which now ships 
40.000 electronic units a day. 


■ Prince WaKd Dm Tala! ibn Abdulazb of Saudi Arabia has 
increased his stake in the EuroDisney SCA amusement park in 
Paris by 9 percent, to 24.6 percent, reducing Walt Disney Co»'s 
share to 40 percent from 49 percent. 

• Javier de la Rosa, the Spanish financier, was ordered to post bail 
of 7 billion pesetas ($56 million) to cover his alleged liability for 
the losses of the Gran Tibidabo holding company be ran. 

• Groupe Bufi, the state French computer maker aiming at privati- 
zation, said that before restructuring charges it cut losses by more 
than half so far this year and may break even before 1995. It 
posted a third-quarter loss of 1.51 billion francs (5290 million). 

• TeleWest, the joint venture between U S West Inc. and Tele- 
communications Inc. of Britain, has revived its plan to float 
around 20 percent of its shares. The plan values the company at 
£1.9 million ($3.1 million). 

• French _ consumer prices rose 0.3 percent in September and 1.6 
percent in the past 12 months, according to final figures from 
INSEE statistical institute. 

• Deutsche Bank AG said it did not share the bearish outlook on 
German equities attributed to its institutional investors team, 
which reportedly recommended selling German stocks. 

• Poland's Parliament approved a bill imposing a tax that wall not 
exceed 0.3 percent on stock market transactions next year. 

■ NKT Hokfing AS of Denmark said it had sold its electronics 

unit, NKT Elektronik, to DSC Communications Corp. for $145 
million. Bloomberg, AP. AFT 


INTERNATIONAL CLASSIFIED 


PERSONALS 


HAPPY BWTIOAY 
TO ANDREW KNIGHT 

UfsMtakilflm.' 
B M fwiri w froro yotr 

frianb at Trft. 


THANK YOU SACKHJ HURT OF 
Jnut and SL Jufe For praym 
■-A.V. 


FOR SALE & WANTED 


Stand onginab Soffa, Gam, Gal, 
fl Mortw, L CobotkaTY. Mctfroy- 
B*0 complete AV 9000 sytfem. lodie 
Bobois hatter sofa. Steviway gran! 
AfltiOPM. loft more ftara l 


pointra* 46 33 77 54. 


ANNOUNCEMENTS 


eo 


TBOL-RANCE 
The 1994 Comenfroa takes | 

2Ui 29lh and XHh October at 
BIST. 44, i— Ip—t 75QI3 Parti. 
Mefco Carvoat Enofeh tochers - 
,in ER raid teacher fasten don't . 
tOTl2i*ripedlars. o**riO • 
pASriieci' rotfaStr ond •. 


nermxlgna. Ovate reaattmxt. 


ar Fax [33-1] 69 

« end h tai i d w ti h far drtnfc. 


T>C YOUNG EXECUTIVE PROGRAM 

of the Amarian Oxanber of Commerce 
n Franca C hostrto a “new member" 
caitaJ party rat Wednesday, October 
3fib, from & Stem. Please contact 
Efanbets McG< m Pone Tdt P) 
4? 23 80 % or fat (1) 47 20 18 ar 
far more information on tHs event. 


ALCOHOUCS ANONYMOUS Engfch 

PJWS 


5974 


drdy- Tet . 
ROME <78 0320, 


i few? — bmrinfl prebhna? 

SOS Ffi? aidfrif* in Enofck 3 pjn.- 

11 pjn. Tafc Pons |1] 47 2380 80. 


FRIENDSHIPS 


00 


Edith Brigitia 
Fahrenkrog 


INTERNATIONAL PARTNERSHIP-AGENCY 
GERMANY' -FRANKRI8T/ MAIN 

5hV YES— TO A PARTNERSHIP. 
MATCHING THE WGKT PARTNERS S 
WY BUSINESS. PERSCWAt MWTOUAL 
ASSISTANCE ISMY SERVER 
CONFIDENCE IS Ml' HIGHEST PMOWTY. 

You CAN REACH HF. DAILY: 3-7 P.M. 
(ALSO SAT/SUN) 

GERMANY, 60316 FRANKFURT / MAIN 

ELKENBAOETR. 51 


Tet: + 49 -171-245 52 52 
TeL: + 49 - 69 - 431979 
Fax: + 49 - 69 - 432066 


SOUND 

INDIVIDUAL 

CONFIDENTIAL 


PERSONAL .UTOINTMENTS 

ARE POSSIBLE IN: FRANKFURT 

NEW V0RK - LOS ANGELES - SINGAPORE 


O AN ENCHANTINGSCANDINAV1AN LADY . . . ^ 

W HER EARLY 417511.70. A CHARMING BEAUTY WITH BLONDE HAIR. 
BLUE EYES. ELEGANT AND GRACEFUL LOOK. A FASCINATING AND 
SPONTANEOUS PERSONALITY WITH AN EXCELLENT BACKGROUND (MJA) 
VERY WARM-HEARTED. CURIOUS ABOUT PEOPLE AND DIFFERENT CULTURES 
SHE LOVES TRAVELLING WORLDWIDE. LIVED IN DIFFE RENT C OUNTRIES 
AROUflJTre WORLD.SKE IS A PERFECT HOSTESS AND^ VBY SPORTY: HUNTING. 
COIR. FLYING. HORSE-RIDING. ETC A BEAUTY WHO IS WOKING FOR THE RIGHT 

PARTNER TO STARTAWWfflERFUL FUTURE TCKHTCR 

PLEASE CALL: QO +49-P | -245S52o«-t--^-©-43P79 


O AMAN0FIHEW0RLD... 

LATE » »IK A YOUNG DYNAMIC ANDCPLUtMINGM/WWjW A 
WHL OaFWED PERSON AUTY AND AN QORESSIVE APPEARANCE HE 
IS AN INTL VERY SUCCESSFUL 

DWSTWALRRMS AND HE IS AT HOME ALL OVBSTIffiWtwnA SPOTYANp 

UASCULDC LOOK AND WRY WELL-DRESSED, WTTH AN EXCELLENT BACK- 

ground and exclusive life-style, a 

TIC. GENEROUS AND VERY CORDIAL. A GENTLEMAN WHO WANTS TO ENJOY 
THE PLEASURES OF LIFE WITH THE WGW R^ANHEBLa^G AN 
ENCHANTING PARTNER WITH CLASS AJ® A COMPREHENSION FOR HIS BUST 
NESS LIFE 

PLEASE CALL: 0O + *’ m * a « SISln, **- tf, '‘ OI,W 


Attention visitors 
from the U.S. ! 




m 


If you enjoy reofng the IHT 
when you travel, why not 
also gel it at home ? 
Some-day delivery available 
in key U5. cities. 


Cdl{\)JM0 882 2884 


(at New Tarfc edi 212 732 3890) 

firralh^E&taSribunc 


BOOM. Tta fined hondaade ** 
1 ‘ sdeaian «v Swtkxrtond at 


G the leadin g men’s store, 
r. 13, Zurich 01 


1-211 2P SO. 


MOVING 


fftl NTE RDEAN 


FOR A FREE ESTIMATE CAU 


44 

AMSTERDAM 31 
ATHB4S 30 
BARCHONA 34 
■BUN 49 

BOW 49 
BREMEN 49 
BMJSSaS 32 
CADIZ 34 

FRANKFURT 49 
G8EVA 41 
GLASGOW 44 
LOFOON 44 
MADRI D 34 
MANOC5TER 44 
MUNICH 49 
PWBS 33 

VTM4A 43 

VICENZA 39 
ZURICH 41 

DUBAI 971 
ATLANTA 1 
WASHINGTON 1 


tm an are 

£?| 89 93 24 

961 12 12 
65231 11 
238 54 00 
, !| 59 920 

(421) 17 05 91 

759 22 85 
85 67 44 
20 01 
343R5 30 
762 46 67 
961 41 41 
671 2450 
877 51 M 
141 50 36 
39 20 140G 
865 47 06 
52 31 87 
945 04 0C 
3T303C 
497 1337 
620 48 15 


B&GRADEl 

BUCHAREST 

BUDAPEST 

MOSCOW 

PRAGUE 

WARSAW 


EASTON BJROPE 


<e&) 

ONENAMt ONE COMPANY 


4S3S94 
211 82 61 
277 28 77 
224 810C 
301 72 35 
4088 87 


HOME5HP. SbnD 4 modem mom. 

can worfawwfe. Co4 Qio-fe 
81 18 81 fnear Opera). 




m 


INTI 


MOVING 


A-GtS. PARS 

A.GS. IOND 

A.G5. BRUSSELS 
A.G£^ RERUN 

A.OS. 

A-GS. PRAGUE 
A-GlS. WARSAW ( 


I) 40 80 70 40 
-81) 941 7595 
-3) 534.25 08. 
- 21 2865 
2649 71 . 
163 60 50 
.7316 
562 555 


Beat to 


from UK mid 
mrvicM to and from 
Mda. From a tfagle 
hoaeMiofd AnNqaex c 


Global Moving Servian 
Uadea 44 71 437 4600 
Oaww44 41337 2<88 
NY 1201 348 8899 


MONEY MANAGEMENT 


» MUTUAL FUND PORTKXKJS » 


1 US/WT 

Meal Tee Only Manner K. Boden 
Union end Oa/Madda early Nor. 
Pltane/Fat detais +44J 


BUSINESS SERVICES 


bmduOoty Otter 

50 U.S. (BITS 
PER MINUTE 


AT&T Network 
Worldwide • Anytime 


open 24 ha. a dayl 


tinea 


Our Customers 
Continually Enjoy 
Discounts <rfl5% to 50% 
On AR Calb 


US TEL 1-407-253-5454 Ext.122 
Ui FAX; 1-407-253-6130 

AGB4TS WUCOME 


CORPORATE 

PLANS 

AVARASLE 


500 N. U4L I. MAaane. a 339S 


Save on 
International 

nr 

Phone Calls 


Saw 50% and mora compared 
to barf phone campames. 
Cal hem hone, office, ear- 
even heads (and mad 
smchargesl. Oied ow rates 
ha any courses and see how 
you can skat sovmg today. 


Qd us now aod well 
cafl you right badd 

Tel 1-206-284-8600 


Fax 1-206-282-6666 

Lines open 24 hours. 


(Skallback 


419 Second Avenue West 
Seattle, WA 98119 USA 


INCREASE SALE tfreugh 
Exacueve PresoUahons 
(UK FAX) 0171 837 819a 


BUSINESS 

OPPORTUNITIES 


CLASS A BANC in lax free venae wiF 
adrindidM wkk and eftbtaed 
bmfanq and securities accounts. US 
S50JXX1. h am et to e rrorefer. Cal 
Cmoda (60 4) 942-6169 or Far J604] 
942-3179 or London 071 394 51 Sw 
FAX 071 231 9928. 


2ND CITIZENSHIP AVAILABLE 
inxigh 100% lead noturo fa ot i oa 
Complete deiivnrv n 90 days. Invatt- 
ments starti d $19 SOO. FuB pretedon 
<a yoer funds. No payment rates you 


^oer documents. 5ms Invest 


Me. Fax PR. + +31206730416 


NANNIES & 
DOMESTICS 


/ Monroe n 

Nannies 

International 


*77epmnaerlfl^ n^ ny kr Mail 

, • GCVBJ^SS ES 
snort or long term oot+odi. 
hr 61 ikA altis mnjjuxtd 

Mo. ANGSA G^B4E 

TeL 071 -49M86T-F« 011 -6294165 



MVST SMAU - EARN BK> 

Buy pfanted dtna grovo. Retorn of 
mvetfmenl qixzantrrd Enongain pa 
terftat SAMI Fmanari, lausamc, Swtfz. 
Tefc 41-21-3290049 Fa. 41-21^190052 

ICS) TEA n Bootes & Cany Baonxnq 
- USA ialeE Nee* opening OTerwotcaa 
mailetv Firms -w*th experienced 
ritributen network repfa Hriiton Tea 
Ml, FAX.- 1813) 621-4953 USA 

lagri tad Trovri Docwaari. Dtote- 
m*c ApporriicnP. Barhnq. Adve 
Aomoeani, POBox 30, 01+3*0 Boat/ 
Zuq. Swrfrerland F<W +4142332342 

tad TRAVEL DOCUMENTS. Drrwna h- 
ceten. GM. ? PerSfaouj. VouScnmen. 
Albers 16671, Greece. Fox 8M152 

OFFSHORE COMPANE5. For free 
bioehwe o » aboce Tet London 
44 81 741 1224 Fa* 44 81 7486556 

tad NATIONALITY/ TRAVa «W 
menu. Certral & South Amenta, 

90 daw Fax +36-M31-3767 

BUSH OFBHOSECOMPAPBSL6$250 
Spedriou m Irofi NarvSet Compaws 
DetabFa. Ireland + 353-51 -3B6W1 

CAPITAL AVAILABLE 

RINDS AVAILABLE 

FOB 

All BUSINGS PROJECTS 

OR FOR 

LETTERS OFCSaXT 

BANK GUARANTEES 

OTHB ACCEPTABLE COLLATERAL 

BroLer i cemmiaon guorcviteed 

Mntdeun MJLPXB. C Ca 
F7NANQAL INSTITUTION 
faundi p’rtlffil 

Worma»on by far 32-2-534 02 77 
or 33-2-538 47 91 

TEEX: 20Z77 

FINANCIAL SERVICES 

Tta fimdrf Fad Gride 
“59 REAL 1BOBB", w* TdWra. 
LAM. C Fax *662 258369! 

REAL ESTATE 

FOR SALE 

PARIS A SUBURBS 

PARIS 6tfi 

Owner safe tmed dxarxter 
cfaartBtort 3 roorat, perfect condtoL 
Grim, bath, todett, new eai^ped 
Sitehen. irdy Ba» 375+ LH. T, 

92521 Nauilhr, Gedex, Frtrxr. 

HOLLAND 


FRIENDSHIPS 


Z' 


.WORLDWIDE EXCLUSIVE MARRIAGE AGENCY 


-i **?... r 

dJlcp-fc •' ’ . j- 


EXCLUSIVE IN MUNICH 
gabricle thiers-hense 

Fax: +49 - 88 - B4234S5 - TeL +49 - 89 - 6423451 
THE SUCCESSFUL- 


:: 


it a ■ i am iKini ictsIALIST 



SOPHISTICATED INTRODUCTION 
TO THE BEST 

IN INTERNATIONAL SOCIETY.- 
THE EUTE. n 


SURPREME AUSTRIAN ELITE 



VBY ATTXACIIVE, blond, bkw eyas. 
37. 160 an ltd, skm. rjrtnt parries, 
Stnocre, aw. pleasant pewnaety. 
■eUrmwed Bteab sewd tan- 
gwfK degantly dremd. LOVES wtt- 
tmpicn ckacte. rwtw andhowawe 
Mrw e m en. Scab morrmc. AWi, 139 
90. Bo» Pod dndwi, NSW 2021 Ant- 
. Kota Trtldlira KB 8284 


DMECT CONTACTS It e n taioeal Par 
Ilium WaridMde. We 0 i.C, • 
SormnlANL 1187 WAi iuM »een NL 


BBKIPEAN MARRIAGE BUREAU 

^iS®tehSiSSitK? 

MIHUOSir. ATTRACTIVE, orim 

European Wy, USA otaen, loves 

to trovri. teerested to meet Eurapeat 
or Amencan geNlera) to pursue re- 
kdORshn Sncere aaxries only. 

Tri: (6191 338-976* 

PRETTY WOMAN, aged 5B, Nflh ctes. 
leaks mat. nrnnxmi 62 yean old. 
mlefltoent. Wide with phooc No-. 1P^ 
2Z0. M3M iWAo+fari 1. 

S %£$!S83i&Sr m ‘ 


PRETTY AMBBCAN WOMAN, tai. 

An, blonde, liwig in Ron*, seafa 


EXOTIC, fine, hav loring, 

26 sms generous ger 
mutua) icwfatSria ksa 
London 44 (0P32a569S5 




POSITIONS AVAILABLE 


SOCMG YOUNG SBBOUS LADY, 
notvsnoler, sane French, to nto core 
of Ayecr old doughnr. Room and 
baara Good axnpenaMn. Sand CV 


aid ghrao to Modone Guftat, 1*3 


0W Victor Huge, 75116 Pont Tel; 
fl) 47 04 57 95^ 


ISRABJ FAMB.Y. 2 chitaen. wonts ou 
pcv. 1 yr from December. DetiA + 
photo + phone to D. Alcn, S Yehuda 
S^Rornai Hadtoron. <7311 bract 


POSITIONS WANTED 


DOMESTIC SOU/nONS AGENCY 
The spnon i sfr for Buttes, Omffeun, 
CbmpannaB, Cook/Hoineieepers, 


Caries & Seam Staff. Lie UK SS810 
t3W715B93MM44)71 589*966 


OCCASIONAL AM) PSMAWiT 
NAFMY AG9<Y hat expertetoed 
Botah Names and Baby hVies far 
te ern tf ionri jobs. 2 OrwiweS Place, 
London. SW7 2JE Tet UK 71-225-iai 
Fox UK 71-5BM966. Lie UK SBB10. 


NAHMS NCOtfWATSI Specieta 
agency far experienc e d Brtah/Wi 
rxjme> boby rrnes. ' Woridtnde 
tte e rewa. Tet 44 71 <37 1312 Fax 
U 71 <37 1236. Offices - London - 
Pont- Bnssete 


NAIMS, COUPLES, BUTIBS, OxA 

etc. H>^ry tranea 


UNIQUE (VIP) - reeldoaeae 

AmBerdan - region mawwtotely 30 
mm. from 5dvrix3l Airport. Free at- 
famriion ad +31 2518 525*8 ar rtw 
51837 to EUROF1NANCE CORPORATE 
FINANCE A DEYFLOPMENT 


FRENCH RIVIERA 


COIIGNaC VAR. Oarara 200 yr oU 
forrrrittase 2 ha 6 bed.2 bafhs.swnfr 
me pool FFJrim. T* « 7! 6025856 


ESCORTS & GUIDES 


BELGRAVIA 

ORCHIDS 


L0MXM MBS GftEVA ZLBBCH 
Eecer* A t m tf Crerit CtAi W elco m e 


UK 071 589 5237 


ULTIMATE 'W 

212-888-1666 

New York Escort Servia 


INTERNATJONAl ESCORTS 

Senfae- Werlderde 
Tab 2I2-76SJI96 Mew York, USA 
Major CreSs Cork Aeaptsd 


YOUNG SMGUS WORLDWIDE seek 
hunCt/HentHei. Free ado- Mamas, 
Box 110660/E, [>10636 Serin 


5cropefev3iy vailed. Hutch eson's 

^lS: l 7T2^0 l | l 7f 2§W1? 

SSL 37, SBS JOB for weatand: 

Otridoae or Tfaato de Co mpo g me . 
Dnvmjj Lome. Tat {331 93 76031)1 


LONDON BBAZE1AN Escort 

Service 091 TTA 5597/91 - era* cords 


AHSTOCATS BCORTSEWCE 

let 071U02 55*4 


REAL ESTATE 

TO RENT/SHARE 

GERMANY 

■BUN, BAOaOTS APPARTMB4T 

about 100 Kyn. date to Berin's south 
western wocidrd Iota tfatnd, S-8ahn 
bBcriassee/frceway, 4 ream btrhen. 
berivoom. bqktaw. Pertly faroshed 
2-100 DM/bo. or My Fiamhed. fine.i 
+ decavrq 3-500 DM/ma Drees r 
6300 DM Fox Bohn 49-308037613. 
TeL 49-3080337547 after 8p» 

GREAT BRITAIN 

LOIBON MAYFAK. oukkxKfag. qixer 
fwriy Bat. tkw to Graswar Square & 
the American Embassy. Brgcxety 
fiarished but Uankrd or Tenart can 
add mare fixxtore i required. 
£l350/wic far long let(12 nxrtfa -f). 

Would sut top ereaave & foody. 
Please ariM Sears on 4* 71 *995599 

PARIS AREA FURNISHED 

10ft. RUE DE PARADIS, beautiful 4 
rooms, uainv, terrace, beona. teige 
riepface^rif comforts, cleaning ser- 
vice. F7£0O, 3 months min. Tel: owner 
(1|*8 00 01 13(1 pJ«711 Ml) 

L/.vt 1 i y .\ »j l’ i a •] : 1 :> ct ; ■ > 

MARAIS - BEAUBOLUG-. SPaOOUS 
34»d fka, double tewra, large bfehen. 
ROiOO art mori. Tri 135>70 98 9*. 

EMPLOYMENT 

EXECUTIVES AVAILABLE 

UNATTAO® BtGUSKAAN 

Atef rhirtita, personable, fteert 
French, seete wuereslmg and uvvsud 
vtoripreferabiyin the ABU AVIGNON 
AREA. Anyrfwig considered escept 
marriage. Rw to Box 3752. 

IH.T, 9^1 Neufiy Cede*. Franco. 

GENERAL POSITIONS 
AVAILABLE 

PA/EXKUTIVE 

of tell Real Estate Ca To coordteote 
adtyries, md some ft Knowledge of 
En^bh desrrabie. It coq be port time. 
Plane apply writ handwruien letter and 
recent photo. Reply to Bor 3743, LH.T, 
92521 NenBy Gedm, Franca. 

AUTO SHIPPING 

SAVE ON CAR SHffHNG AMSCO^ 
fcibeflr 2. Antwerp Brtpxn. To/rrom 

lUWMKMSlt “ 

AMBERS 

London 0956 431364 Escort Service 

•• ZURICH ** VKXET** 

Etoori SarvOT. Credb cords Docepled. 
Tet 077 / 63 83 32. 

GBCVA • GLAMOUR • PARS 
BASE •bcerf Agency* 022/346 0089 


AUTOS TAX FREE 


TRANSCO BELGIUM 

The far pest ca eiport corapany 


m ^ pUS»3p yew 


. .fraakn and aodek. 
FvfOrtsriewegofrabwi. ' 
otxDpmg • aewe 
rtpeoa Afnca 


Ewcpraa Affacai & Ui spec. 


TtpnsM, 51 Vcase-schensn., 
2030 Antweip, Bdgwn. 

Teh 03/5*16240. fax 03/5*25697. 
irln 35207 Time 8. 


■eta TAX-RS need 
ALL LEADMG MAKE5 

Same day mggidxai pouifaie 
renewririe w to 5 yean 
We oho register can with 
(rnpaed) foreign (tax-free) pktfes 

K2K0VITS 

Alfred Esdier Street 10. 0+8027 lunch 
let 01/207 76 10. Telex; 815915. 
Far: 01/202 76 30 


OCEANWDE MOTORS 

Since 1972 broken for Mercedes, BMW, 
Pondie, GM fi Ford. Worldwide 
deSvery, regntrtfion & shanent 
OCM-GBIMANt 
T enteegendr 8. D-40474 Duessddorf 
Tet (OfTll - 434646k Fa* <542130 


ATX WORLDWIDE TAX OS CAS S. 

Expert + Jify»u + legatiieion of 

new & used an. ATK NV| TanineUn 


40, 2930 Broadtoot. Befaiuni. Phone: 

M 3,gjjT Fou pj 


H 6455002- Telex: 
6457109. ATK, i 


1959. 


1995 MBKraB BBS S 500 tedon, 

smoke sAver/dvmpKxi veteor, awho 
+ CD. sonroaf, riatm. DM120000. 
TeL -31/3402+4494, Fax 60994. 


BOATS/YACHTS 


OCEAN MGH performance speed boa 
1990 "ARCriOW" Afeha 45 spedal 
Never been Mtei 5". 3 spooa 


! boat 
spedaL 
I spoooi 

rceng engxvts, 640 Kp. each triy 70 
hour*. T»o 4-4 “Merc S pe e r tean r" 
out drives one Cl $10* spent over 
the cost to buid iho boat Lots of 
ophans. Usred at S350K far emer- 
qencr srit- TeL- 310/317-4759 USA. 


FOB SAlE/CHMia. luxury 10^«- 


soo motor yadit to t te nfan' i 
tends. Fax -e 31.10. 


.102131577. 


LEGAL SERVICES 


DIVORCE FAST - $495 

CM - ---- 

(714) 




LOW COST FLIGHTS 


WORLD AVIATION • SCHEDULED 
RIGHTS lit burnta. economy at 
lowest fares, Tef IFT Pots (1)47046751 


ARTS 


COPIES BEMBRAfOT, MOTET & own 
wwL Dirich porter offers cooes of 
paiMM. signed & amt -ok (figuo 
to* & riskadl Wo- AJ. Hemmii u . 
Amsterdam hfc. tef/fa* +3l-» 
6/6678* 


PBUOUIMBIANART 

GaLEBE AIT^MEB KA. Sch«bstr. 82 
D-7D193 Stuttgart, Fax + 4971 1 A349I3 


COLLECTIBLES 


fflW.mfflROFaaiiitti 


dated 1st Jen 1789. sped by foxw 
Wssran^on 


f George ... _ 
Ako file about Crxfat war 


m Span. Fm Pans (33-1) 47 93 68 99. 


EDUCATION 


CONVERSATIONAL Ft erch Pare 6-ne. 
^ l»t lesson 

free. SS^fa: Fl 30/hr, 1-4633 2383: 


COLLEGES & 
UNIVERSITIES 


EARN LNVaSnY degrees etfcsng 
•writ, He & academe enp e n en ce . For 
evaluation & information forward re- 
sume to P odhc Southern Uravemty, 
9581 W. ftco Bvd. Dept. 121. In 
Anaeta.CA 90035 USA 


VAUD COLLEGE DEGREES. All 
Subjects. Home Study. FAX: (31 9) 35*- 
6335 Phone: 019) 


GOING ONCE ; 
TWICE, SOLD!!! 


INTERNATIONAL 

ART 

EXHIBITIONS 
AUCTION SALES 1 
COLLECTOR’S 
GUIDES 

IN SATURDAY’S 


INTERNATIONAL 
HERALD TRIBUNE 
TODAY 
PAGES 6 & 7 


ATTENTION EFL 
TEACHERS 


The IHT 

"newspapers In the 
classroom" materials 
are now available. 

For more tntprmafcm pteaa conata: 


Mary Louise Stott 
Educational 

Services Department 

Hrrajbj^jSrtbimc. 

181 Avenue Ckarles-oe-Gnjue 
92521 NaniY Ceoex France 
or Fax. 33 (1)46 37 06 51 


French Country Properties 


will run on 
October 28, 1994 

For more information, call tfie 
International Herald Tribune Paris: 

Tel.: (1) 46 37 93 85 
Fax: (1) 46 37 93 70 


>••• ••• • LONDON - •••• 

■ — — escort savin — — ■ 

Tet 071 370 2096 

** Lonfan * Heathrow * Gctwiek — 


TOKYO -TOP far TOP 
•seart gride agency Tai 35 8B 15 90 


swnzatAM) - pais - vbma 

Era), Travel & Branca Service. 

Switzerland +41 101 77 72 72 30 


•PARIS 4 LONDON- 
-ELEGANCE* 

Bead Semite London (711 394 5145 


LOS AN0BCS, SAN FRANCISCO A 
Los Vega! - Gabby Inrl Esaar & 
Guide Syvwe. pIOl 281-8225 USA. 


TOKYO ESCORT SBtVKZ 
Moor tredt ends mrrptnd 
Triad 3436-4598. 


.STOCKHOLM 
.... SBMCE 
TR: 08 157821 


EXECUTIVE- • 

LONDON ESCORT SERVICE 

TEL 071 722 S00S Credit Cords 


TO OUR READERS 


IN GREAT BRITAIN 


It's never been easier 
to subscribe 
and save. 

Just call toll-free 


0 800 89 5965 


ZURICH -PARS 
Zurich 380 15 86 Eaart Service. 
Other Pty tta inti 1 902.2-201 0700 


VIBLNA—ZUBCH- ••PRAGUE*** 

Etesrl Servia VIENNA'S BBT 
G* Vimno L43 1)532 11 32. 


ZUBKH - FRANKFURT - MONACO 
AME1HY STE to T baanftmd Service 

CAU. SwirzSlAhP 089610 22 59. 


ZURICH * BERN * LUZERN 

NATHALIE boat Senna* 
Teh 01 / 463 2334 


***** MILAN ARIANNA ' 

Eteart & Travel Service 
Tet 0330 392567 


•’ GENEVA MBNATUNAL ** 

EjcortSernce 

Tel: 022 / 731 6352 ■ 077/259280 


FRANMFURT KdIN DUSSBDOIIF 
id craa^ Ewort Swin. 
069J73294 


NUMS» UNO ESCORT AGBfCY 
FRANKFURT - WIESBADEN 
TH. MOBU£ 0173/6992 (SO. 


K6fa - DOnaUarf • Bam 
Btort Service • 0221-510 6145 
0171-5404909 


«WV« 5S7 core D-AZUR 


GENEVA, ZURICH ESCORT SBVKL 
For Bswwtoents oriy 
did 089/400 70 38 


* ZURICH* SUSAN* 

Eicon Service 

Tet 01 / 38199<E 


NW YOK CITY AD A51XUM Ek 

Wp 012) 679-57*5 or (2121 i 
1306. 7 daw a v+ete 


MUNICH 'WELCOME 
ESCCRTAGUW AGENCY. 
PLEASE CALL 089 - 91 23 14, 
































































































































INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 22-23, 1994 


Page 13 

ASIA/PACIHC 


| Clouds Over Tokyo Market 

pjhrokers Take Dive Offering Reviewed 


b i 

f 

i- . ■ 


t. • » . s 


= - ¥ 
i \.t- 
: * ‘ f. 


'■ 


Compiled by Our Staff From Dispatches 

TOKYO — AD but three of the 14 tro securi- 
ties f inns reported losses Friday for the first half, 
citing low stock trading volume due to the slug- 
gish Japanese economy. 

The trio of fizms that did manage to stay in the 
black for the period that ended Sept. 30 an- 
nounced big drops in profit. They included No- 
mura Securities Co n the world’s largest brokerage. 
NOdco Securities Co. and Daiwa Securities Co. 

Sanyo Securities Co. and 10 other brokerages 
all posted six-month pretax losses ranging from 
Kokusai Securities’ 1 J8 billion yen ($14.2 mil . 
Don) to Sanyo’s 13.46 billion yen. 

Nomura reported an 1 13 percent drop in its 
pretax profit for the six-month period, to 223 
billion year. Net profit edged up 0.9 percent to 
10.19 billion yen. 

A senior official at Nomura said low trading 
volume and value on the Tokyo Stock Exchange 
“reduced our commissions for equity trading 
sharply, although commissions from underwrit- 
ing new shares and bonds rose remarkably." 

Nikko said pretax profit for the six months' 
plunged 81.9 percent from a Year earlier, to 2.33 
billion yen. Net profit amounted to 1.97 billion 
.yen, down 493 percent. 

Despite the poor reports, some brokers said 
that they were optimistic about a recovery in 
stock market activity and that they believed this 
would improve profit in the second half. 

Meanwhile, the combined value of appraisal 
losses on securities at the nation's 10 major 
banks for the same six-month period totaled 
2313 billion yen, according to their reports. 
Among the 10, the value of appraisal losses on 
stocks, government and municipal bonds and 
others at Nippon Credit Bank was the largest, at 
75 billion yen. (AT, Reuters) 


TOKYO — Japan will review its methods of 
selling government shares after public reluctance 
to invest in Japan Tobacco Inc. clouded pros- 
pects for its privatization process, Finance Min- 
ister Masayoshi Takemura said Friday. 

"We must seriously look into the situation to 
see if there is any problem,” he said. 

The Finance Ministry plans to discuss what to 
do with unsold shares in the tobacco business 
monopoly after many investors shied away from 
recent public offers- 

In dividual investors complain that the minis- 
try, anxious to boost national coffers at a time of 
dwindling tax revenues, set the price for Japan 
Tobacco shares too high. After an auction to 
institutional investors in August, the ministry 
fixed the price for the company’s shares for the 
public at 1.438 million yen ($14,740) each. 

The Finance Ministry, owner of all 2 million 
Japan Tobacco shares, plans to sell one-third to 
investors in its initial offer before the firm is 
listed on Oct 27. 

Institutional investors have taken up 230,000 
shares; individual investors have been offered 
436,666 shares. 

■ Slum ping Dollar Weakens Asia Stocks 

Renewed weakness in theU3. currency had a 
negative effect Friday on Tokyo stocks and on 
the exchanges in Hong Kong, Singapore and 
Kuala Lumpur, Reuters reported from Hong 
Kong. 

Also pressuring the Tokyo bourse was the 
drop in the stock prices of two drug companies 

— Daiichi Pharmaceutical and Yakult Honsha 

— after Japanese newspapers reported that the 
health authorities linked the firms' new ami- 
cancer drug to four patient deaths, Bloomberg 
Business News reported. 


Filling Big Shoes 
At News Corp. Is 


Sapporo to Cut 
Miller Link? 

Bloomberg Business News 

TOKYO — Sapporo 
Breweries Ltd., Japan’s 
third-Iargest brewer, is 
poised to end its decade- 
long sales and distribution 
link with Miller Brewing 
Co., a unit of Philip Morris 
Cos. 

Although the companies 
are still negotiating and no 
formal decision is expected 
until next week, a Sapporo 
spokesman said Friday that 
the chances of a split were 
“very strong.” 

Sapporo and Miller 
linked up in 1983. Under 
the agreement, Sapporo 
markets Miller in Japan 
and is not allowed to mar- 
ket any other North Ameri- 
can boa 1 . 


Singapore Air Sets Accord 

Bloomberg Business News old plan and that a new one was 


Bloomberg Business News 

SINGAPORE — The new 
profit-sharing plan at Singa- 
pore Airlines may shave 3 per- 
cent or more off the company’s 
profit this year, analysts said 
Friday. 

The national carrier said 
Thursday that it had reached an 
agreement with its staff unions 
on a profit-sharing formula that 
wfll cover this financial year 
and the next two. It said the 
plan would cost between 25 
million Singapore dollars ($17 
milli on) and 300 milli on Singa- 
pore dollars a year. 

If the airline earns more than 
500 million dollars, about 
22,000 employees will receive a 
bonus ranging from half a 
month’s salary to a maximum 
of six months’ salary. 

While analysts knew that em- 
ployees were unhappy with the 


being developed, they said they 
were surprised at how much 
money the company was pre- 
pared to pay. 

"We’re still working through 
the figures, but it's more gener- 
ous than we would have expect- 
ed," said Joseph Iim, an ana- 
lyst at Nomura Research 
Institute. 

■ Koreans Immch Bids 

Korean Air Lines and Halla 
Heavy Industries Co. have 
made bids to jointly produce 
parts for McDonnell Douglas 
Corp.’s new MD-95 aircraft, 
news agencies reported from 
Seoul. 

Yoon Hyo Chul a Halla offi- 
riaL said that his company 
hoped to supply wing pans, but 
that KAL was seeking to build 
the fuselages. • (AFX, AFP) 


Reuters 

ADELAIDE, Australia 
— About 42 years ago, a 
young Rupert Murdoch 
stepped out of his father’s 
shadow to take the helm of a 
small daily newspaper in the 
sleepy Australian city of Ad- 
elaide. 

Now, questions are being 
raised about who will even- 
tually emerge from under 
the shadow of Mr. Murdoch, 
whose drive and obsession 
have built the huge interna- 
tional media company. 
News Corp. 

Mr. Murdoch, chief exec- 
utive of News Corp., has 
said he plans to smooth the 
path for his children to take 
control of the company by 
buying out the interests of 
his extended family. 

That would allow his four 
children to take full control 
of Cniden Investments Pty M 
the family business that 
owns 32 percent of News 
Corp. Mr. Murdoch now 
owns 60 percent of Cruden. 

“I see the children over 
the next 10 years, if they are 
all successful or interested, 
beginning to HD responsible 
positions." Mr. Murdoch 
told Business Review Week- 
ly, an Australian magazine, 
in early October. 

News Corp.’s holdings 
range from satellite broad- 
casters STAR, TV in Asia 
and British Sky Broadcast- 
ing in Britain to Twentieth 
Century-Fox Film Corp. 
and Fox Broadcasting Co. in 
the United States, along 
with dozens of newspapers 
around the world. 

With attention now focus- 
ing on his children, it 
seemed no surprise Mr. 
Murdoch was flanked by his 
eldest son, Lachlan, at News 
Corp.’s recent annual meet- 
ing in Adelaide. 

Lachlan, 23. finished 
studies earlier (his year at 
Princeton University. He 
came to Australia in mid- 


To subscribe in Germany 


jusi coil, toll free, 
013084 8585 


NYSE 

Friday's Closing 

Tables include the nationwide prices up to 
the closing on Wall Street and do not reflect 
lata trades elsewhere. Vfla 7h» Associated Press 

: (Continued) 

12 Month 5h 

HMi Low Stock P*v YM P6 IBOi Htph LowLoftfOi'g* 


12 Month Hi 

rtnh Lov» stock Dlv Ytg PE lam High Loomed OVac 


12 Month Sfa 

HMlLowSIPcfc Dw YldPElUfe 


M 13 U etif 
T-U 


Mil 




High LowUMgQt'pe 

ilia 


1 H 111 


rt 


mi-, 


£38 
1 Si 


“ “8*1 

'it i i 
i-m «a c . 

ds a|l 

»? 
sea* a st i 

, 1 14 ; 

■ril: 




gouu „ ... is 


- 2 IJ 
5 3 f 1 


ix a n 

233 i 53; 


f 18- 

nil 

I * l] 

.as fa 


m -* 


‘ * l 8 4 

-I i : "i 

r'iaH 

«& 13 2? 

F fS fij i | 

? ia a : 1 
™ ua S3 B J 

£ IBI1 

& 4 3 S 4 


m m 


M — 

IS!, 

IlIS 

Mm a r 

44 ; 

a si 


UK 113 - 4 
i« 23 n 


” i si: 
. a|j] 

- 9 I ,i 


141 103 Z 
.10 -Z SO 



• 18*3 

'.rs -in 

ail. 

Jim 

a io U jj V 

a fill 


m a fiit 


104 r B 5 £ J I J Hif 

{Hi JliEfJ 


,3 iff ™"8 


.3 3 13 

JJ £ I fl 


g 2.fi B P 

Mils 


'll 8 IP 

1.15 4.1 13 4 

41 J ” 4 


la* ms iu| 


alS ^ ll ^ 








jil -* 


u tf* inn t<%> 


!k iiO 




IK £ If ri 


III 1 * 


usiness 


1994 to woik first at News 
Ltd. unit in Sydney before 
becoming general manager 
of Queensland Newspapers 
in August. 

When Lanny Baker, an 
analyst at Salomon Broth- 
ers, was asked what he 
thought about the possibili- 
ty that Lachlan would suc- 
ceed his father, he said: “I 
don't think a 23-year-old is 
going to run News Corp." 

Some analysts said Mr. 
Murdoch's wife, Anna, 

'I hope we can 
work it out 
between us.’ 

Rupert Murdoch, 

Chairman of News Corp. 

might take up the reins if her 
husband were no longer in 
control of News Corp. 

His daughter, Prudence, 
36, is not interested in join- 
ing News Coip_ according 
to Australian media, but her 
husband works in the mar- 
keting department of its 
flagship British newspaper. 
The Times. 

Elisab eth, Mr. Murdoch's 
26-year-old daughter, and 
her husband, Elfin Pianim, 
who is a banker, are heavily 
involved in broadcast media. 

Elisab eth has worked at 
Fox Broadcasting Co. in 
California, and is president 
and chief executive officer of 
EP Communications Inc„ a 
television business she owns. 

Mr. Murdoch's youngest 
son. 21-year-old James, 
studies at Harvard Universi- 
ty and works at the Harvard 
Lampoon, a satirical college 
magazine. 

Asked which of his chil- 
dren he would like to suc- 
ceed him, Mr. Murdoch told 
Business Review Weekly: “I 
hope we can work it out be- 
tween us.” 


China Asks 
For Easier 
Terms on 
Japan Aid 

Bloomberg Business flews 

BELTING — Facing a hi gher 
debt burden on its yen-denomi- 
nated loans because of the soar- 
ing Japanese currency, China is 
mounting a campaign for more 
lenient lending terms in the next 
batch of aid loans from Tokyo. 

Xu Ghangwen, director of the 
Japan division in China's Min- 
istry of Foreign Trade and Eco- 
nomic Cooperation, said talks 
on a fourth tranche of Japanese 
Overseas Development Assis- 
tance loans were likely to be 
concluded by the end of this 
year, with the Chinese asking 
for extra concessions. 

“All we can say is the interest 
rate will be lower than the cur- 
rent rate,” Mr. Xu said, adding 
that there would "defini'idy" be 
more funds than in the third 
tranche. The present rate is 2.6 
percent annually. 

On Friday, the yen hit & post- 
war high against the dollar in 
Tokyo. At one point, the dollar 
traded at 96.55 yen. 

Japan has lent China 1.6S tril- 
lion yen ($17.2 billion) for 66 
Overseas Development Assis- 
tance projects in three tranches 
stretching from 1979 to 1995. 
The current third package of 
loans totals 810 billion yen. 

An official at the Japanese 
Embassy confirmed that China 
was seeking extra loans, in pan 
to ease its rising debt load. But 
he added that his government 
had no intention of c hanging 
the current 2.6 percent rate 

■ Shanghai Market Praised 

A Chinese official praised the 
"fantastic” work done at the 
Shanghai Stock Exchange, sig- 
naling a key vote of confidence 
in the embattled market, Reuters 
reported from Shanghai. 

A local newspaper quoted 
Hu Jintao, a member of the all- 
powerful Standing Committee 
of the Communist Party’s Polit- 
buro, as saying during a visit to 
the market this week: “In just 
three or four years of develop- 
ment, you've traveled a road 
that has taken others almost 
100 years.” 


Investor’s Asia 


Hong Kong 

.Singapore 

Tokyo 

Hang Seng 

Straits Times 

Nikkei 225 

11000 

2400 

22000 

! "k N/V 

2300 lAj 0 

-An 

mi\f* 

2200 - Y 

xmf ■ 

J J A S O 

M J J ASO 



1W4 1984 

Exchange Index 

Hong Kong Hang Seng 

Singapore Straits Times 

Sydney ABOrcfinaries 

Tokyo Nikkei 225 

Kuala Lumpur Composite 
Bangkok SET 

Seoul - - . Composite Stock 
Taipei Weighted Price 

Manila PSE 

Jakarta Stock Index 

New Zealand NZSE-40 

Bombay National Index 

Sources: Reuters, AFP 


Very briefly: 


1894 

Friday Prov. % 

Close Close Change 

9,33&59 9,388.78 -0.53 

2£77.45 2.332.25 -0.20 

2,034.60 2.016.30 +0.91 

19,899.08 19,991.90 -0.46 

1,114.42 1,124.39 -0.89 

1,522.48 1,521.61 +006 

1,095.34 L08&77 +060 

6,839.76 6.761.37 +1.16 

3,084.80 3,077.12 +0.25 

$1457 518.76~ 5j3" 

2,061.57 2,067.29 -028 

2.03&54 £028.54 ^049 

In'ciiuiiiiiu! ItaaU TnhwK 


1,522.48 

1,095.34 

6,839.78 

3,084.80 

81417 

2,061.57 

2,038^4 


Don't miss the upcoming 
Sponsored Section on 

World Travel 
Shopping 

in the October 24th 
. issue of the newspaper. 


■ India could lose more than $2 billion in export earnings this year 
because of restrictions imposed on its goods after the outbreak of 
plague, according to Prakash Methani, who is chief of the Federa- 
tion of In dian Export Organizations. 

• Japan and the United States will hold negotiations on deregula- 
tion in Japan beginning Nov. 15, according to a U.S. government 
official who added that Washington would focus on the financial 
services and telecommunications industries. 

■ China’s most senior judge, Ren Jiaxin, warned that the number 
of economic crimes would increase in the coming years and urged 
courts to boost efforts to deal with such cases. 

• Samsung Electronics Co. of South Kotcq paid $150 million to 
acquire 15.1 percent of the equity in Empresa National de Tefeco- 
mtinicatidnes SA of Chile. 

• S*”®* Electric Co. expects to post a pretax loss of 950 million 
yen ($9.7 million) in the year to December; it previously Forecast a 
profit of 200 million yen. 

• Orient Alrfines Association, an umbrella group that includes 16 
Asian airlines, reported a combined increase in profits of 24.7 
percent in its latest financial year. 

• The Securities and Exchange Commission of Taiwan has begun a 
preliminary investigation into possible insider trading of shares in 
President Enterprises Corp. 

• Taiwan’s high court sentenced Wu Ching-suL a leading stock 
market player, to two years in jail for manipulating shares of a 
textile company. 

• Hongkong & Shanghai Banking Corp. said it had agreed to 

acquire the rights to an electronic cash card system called Mondex 
for most of Asia- Mondex was developed by National Westminster 
Bank PLC Of Britain. ' AFP. A FX.AP. Bloomberg 


International 

Classified 

Marketplace 

■ Monday 

International Conferences and Seminars 

■ Tuesday 
Education Directory 

I Wednesday 
Business Message Center 
I Thursday 

International Recruitment 
I Friday 

Real Estate Marketplace, Holidays and Travel 
I Saturday 
Arts arid Antiques 

Plus over 300 headings In International Classified 
Monday through Saturday 

For further information, contact Philip Oma in Paris: 
Tel: (33- 1)46379474- Fax: (33- 1) 46 37 52 12 

■Tfr Ik LMTEHNATIONAL m* 


ptauass Kin no m tm mux udtmo 


CURRLXCY AND CAPITAL MARKET SERV ICES 


^Foreign Exchange direct dealing 24/24H 
-^ISDtMIng rooms: Slngapora-London-Naw-Yoik 
M 181 10 years experience - advanced technology 
UlS 5% Margin deposit - US$i DEM Splpe 
■ CO Free dally fax analysis - strategies 
9 CALL BRUSSELS (322) 512 0121 
1 CALL PARIS (331) 4622 1920 


Competitive FX spreads with no further costs 
Experience - Security - Analysis - Strategies 
Trading facilities based on margin or company balance sheet 
Direct Dealing 24 Hours - London - Berlin - Copenhagen 
RUBICON +49 30 TeL: 885 9330 / Fax: 882 42667 






ECU Futures PLC 
29 Chesham Place 
Belgravia 

London SW1X8HL 
TeL: +71 245 0088 
Fax: +71 235 6599. 
Member SFA. 



MEMBER SFA 


Commodities 
on the Move 
Time to Speculate? 

Call Philip O'Neill 
Tel.: + 44 71 329 3333 
Fax: + +4 71 329 3919 


Si 


O 130+ software applicaUons O 
O RT DATA FROM SI 0 A DAY O 
O Signal SOFTWARE GUIDE O 
■ Call London: 144+ (0)71 231 3556 
for your guide and Signal price EsL 


Everyday Offer lb Professional Men 

koncsiifcal CefUoj — 

-ww- us commodity ExcningH 

Keystone 800-9674879 $9475 
JSSSSZZZSEm 312-207-0117 

, IW0KM Ro*id Ijm Pu, I mi 


Keystone 800-9674879 


Fa AltuiWMlOBieiu 
Bo«J IjmPiMfMi 


V ” CURRENCY & FUTURES TRJUftERS V 

S' TRAM CURKBIOES W* ipedfic anfcn Iran BM COMFUIB PROGRAM wWi Mm\ 

* DAH.Y FAX SERVICE far » ftMw ■ 

. in port 6 nwilswewdi 5100000, hJ*gW8Srtrodtar«rii f nsntt 

SoI»ct 2)« for SrnaWr, fcr USS 2^03; or 6marjkj&USJ 6^00; or 1 ymat tar 512^XX). 

*NOIB UCH HAS FUU MOWY-UQC GUMAH1H. Wn grand CIA't. Jg pglargiMprefib, inquin i^diiI 

ki »W«Ga) ACCOUNTS [nmnn U5J35.000); CU5TOH PtOGWMS^^TOWfwAiAroy 

X Cnfl 305-251-6762 or 800-392-2664 - Rdc305-2S4-3272 / 

^ LIMITED AVAILABIUTY. ACT NOWII * 


Tn nbtab yuur fnsc Giude In hot your l-liuacu] 

BnUuiukcr ran bdp j^u. call Michael Murray 
1 * Ion JliAui. ,<n 117 1 82K 7D.1 01 »r* hi b> A 
K! IlKkt PL . V- 1 1 OnMnor Conlom, ^ 


m 


Currency Management Corporation Plc 

11 Old Jewry - London EC2S8DU 
TeL: 071-865 0800 Fxx: 071-972 0970 


MARGIN FOREIGN EXCHANGE 


>*W5i niuumi. 


Union KWIW0BD 


'Madn kf r4nwo « hti n u tfuopr 


Catch The Big Moves 

DID YOU SELL DEC DAX AT 2142? 

DID YOU SELL DEC S+P 500 AT 472. 55? 

DID YOU BUY COFFEE IN MARCH? OUR CLIENTS DID 
C«mm^lhecait¥xjlflftSfldtr8(^sysiOTisiwwawii^t7yiaxandcoveraov«7S 
coriunodliesAnancial futu^s/tndoes vrth specific "Bm/. *SdT or "NeutraT recammandadons 

Request your 5-day tin trial By sending a Hot 
to Carol on 0624 662272 Hit +44624 662272 


24 Hour London Dealing Desk I 

Competitive Rates A Daily Fax Sheet ji 

Call for further information & brochure rbe^ 

FOR TRADERS ON THE MOVE 

Watch the markets move with the screen in your pocket 
that receives Currency, Futures, Indices and News updates 
24 hours a day. For your 7 day free trial, call Futures Pager Ltd 
on 071-895 9400 now. 

FUTURES PAGER ■■ 

For further details 
Cm bow to place your listing contact: 

WILL NICHOLSON in London 
TeL ■ (44) 71 836 48 02 
Fax : (44) 71 240 2254 , 

Rcratb^Sribunc 






Page 14 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 22-23, 1994 


NASDAQ 


Friday’s 4 p.m. 

Thte 'Wwmpfleti by the AP. consists of the 1,000 
most traded securities In terms of dollar value. It is 
updated twice a year. 


12 Month 
High LOW Stock 


L 


Kv YM PE IBta High Low Lores Oi'gc 


IB' ’4 6 AAQN 

73*il7 




- 17 112 13 


26 V« 13% ACC 


?v,t 

. 31W1 


®?E 


.12a J 


mw~ 




31 w isw 

33 lObAST 


29W MWA&eyH 
AtMOTBt 


10% 6WAtHO.„. 

20*».7V;AcesHn 
W* 12b Acclaim 
2?l» 14 AcmeMet 
u% tv.acw 
24% 15V. ACTVOiC 
29 IBWAown 
72'; 14 AOOPfC t 
2&"i 10 Adolph h 
37 '-,20 AcfiaSv 
38W19 AOOObSv 
iswxbAatran 
29 BWAdvHIt 
17W12WAdvTLb 
11". 4V»A0vTiSS 
46% 26 Vi AdVOfltO 
M’.i ?5 AdvonfB 
21% 17 AHCmpS 
I0*kia Agmcoa 

li*» 9 ADOum 
28'ilB' .AirExp 
63W 4Sta AJao 
21'*. f'.AIantec 
2fl> -1 10’, Albank 
19V. 1 IW AJOiln J 
SB 1 . S3 AleoSId 
23'-. 8 AfiasR 
M'A 7WAlianPh 
2V< 7>i AlnSoml 
31 27'. ABiCdGa 

M 7V»AlP*KiBto 
MW 21% Altera 
3I'-.)4WAURM£ 
2P**lOWAItron 
93 17LAm«On 
jOWMWABnur 
1BW 9' . AmBlds 
It'l 14'.« ACJctsVov 
29 IDWAColloid 
X 1 . IJWAmEagto 
ZJblSWAmFrrtil 
34 W M’.» AGtW 
24V S Ms AHItncD s 
77". 17 W AMS 
17": 0WAMCBE 
73 I? 1 . AmMbSat 

30W I4‘ lAPwrCnv 
IS 1 l'i APuOIrsn 
XbU'.ASavFL 
W".22":Am5upr 
18 lOt.ATravel 
36'.. IfWAmfcd 
S»'. 34 ".Amgen 
J3>. 8'> AmtcnCP 
17V, UWAnchBco 
19", 1QW AncJnim 
51'. k 19’. Andrew s 
ji'-i 13 Anann 
38* ,18': Artec 
to' • TWApenus 
19'. W-. Aooaee 
-t?*-. 24 V. AppfcC 

18b ir.ApISoui 
7S’.J 1 1 Aatmooo s 

11 3’. APUE»Tr 

26'i 13b ApODotl 
33 IS Aodlnov i 
W jX' .AoKJMalt 
21 % la ATOOrOro 

7S IS ArtjorHI 

21 10 , '.’uArorNi1 

22 13*. Araco s 

33'i26'.. ArgoGo 
7? 12% Argosy 

l s*u 10’ • ArKBest 

24 16 1 « Armor 

22% IB Arnolds 

24 Vj 

31% m.AjcmdC 
I3W 7%Asftwrm 
4 a 24 ASPdTl 
32’ .-22 AaCmA 
32": 21’-. AsdCmB 
X' .11 Astec 
£|i.:.27'-.AstoriaF 
38b2H.AIISeAlr 


93 16% ISW 1SW 
n sat 17 14% 14% 

- 501 10% 10 10*H 

28 1318 38 34% 34’ i 

33 442 44Vi 44% 44 V, 

- 755 20% l?'-i 20% 
.. 134 11V. l»i 10% 

i .68 1 14 19 2411 21% lfV. 20V. 

._ 21N3 31% 31 31 Vi 

IS 39 30% 30 Vi 30% 
9 5130 11% liv,1]ivu 
37 3l» IWi 17V: 19!i 
19 371 B 7% 8 
_ 1012 10».„ 1 7 Vi 18% 
19 ITEM 171-4 m, 17% 
8 686 28% 19V. 20>/j 
5511931 8% 7>. 7%. 

33 147 71% 31 51 

34 413 29 28% 28% 

1713184 31% 20'-i21>v h 


-£|* 


n? 

— Vj 

*•% 


— 1% 
—■A 


-V. 


— I/M 

rl 

-Ib 


J IE* 1?V» 12V, 


JO .7 


J4 .9 
U4o 2.9 


M 1.7 
88 3J 


19 80 36% 35b 

28 2SM 36% 35V. u% 

_ 468 31% 3fl% 31% 

2? 97 ZS'-i 28% 78 % 

... 119 16% 154k 15% 

-. 1443 6% 6% 6% 

12 1640 29% 78% 58% 

11 7414 27% 26% 27% 

_ 60 u 21% 28% 21% 

60 1633 14 I3b 13% 

_ 58 11% 18>-4 11<'. 

18 278 771. 77% 27% 

_ 384 40% 60 60% 

_ 1594 14% 13 13% 

>1 400 23*1 2?'l% 33% 
24 5m> 14 ll' i 13 V, 

IS 740 2S 23% 24 . 

34 719 23% 72% 23 

_ 1103 8% 7V. 8 

2A 12744 73% 72% 73% 
7 414 29% 29 79% 

_ 1(14 10% 9J. To 

75 4*75 37% 34 37% 


— Vl 
► Pi. 
. — % 
— % 
— % 
.Vl 
— ta 


— % 
-% 


38 77% ?7i a 77‘ j 

78% 70% 


J4 1.1 
J» 5 


16 128 70% ... 

84 2942 4SW 62 6# „ * 
8 589 21 d20% 20% 

_ 642 u 18% 18% 16% 
48 1(06 17% 17 17% 

20 1511 1SW 15 ISW 

36 S6 28", 271. 28% 
38 740 22 2 US 21% 

IS 4481 28% 27% 27% 
11 IS 4V< 4% 4% 
19 239 25% 25% 25% 

10 116 7 6% 6% 
... 3542 15% 14*1. 141. 
7717836 17% 17 I7a m 
- 118 12% 12 12% 

8 343 171. 17% 17% 

_. 444 34 33% 33% 

13 437 17V, 17% 17'. 

21 141 71% 71% 21% 

2011314 W. 58 SBV„ 

11 2828 11 18% 10% 

9 682 15% 14% 14% 

18 15 19V. 18% 18% 

31 804 47% 45% 44%. 
II 74 18 17>. 17% 

_. 3SO 26% 2S”i 25% 


— % 
— Va 
— '-I 


„ 3234 10% 9% 10 


48 1.1 

.02 .1 
JX 3 


_ 1 55 >6 17 18 

1428788 42% *10% 42% 

43 2Z7 17% 17% 17V, 
33 2075 1 7% 14% 17 
_ _ 593 11% 10’. ll'k 

- _ 1474 24 S* 23V. 24% 
... 35 304 23 21V. 21 %• 

- 2213483 47% 45V, 47% 

_74 1.1 24 1)0 21% 21 21 

24 13 21% 21 21% 


v, 

* l*i 


.19 


A4 



34 

172 

ISW 

s 

21 

47A 

X 

4.1 

fl 

49 

XW 


90 

505 

1ft w 

J 

X 

108 

13W 

LE 

21 

163 

aw 

1.9 

19 

181 

21*1 


11 

4117 

9 


19% 20 


aAtrloSB 
34% IS Audon 
f t. -IHAuraSv 
10’ : 3TiAur»>ex 
10 37 AutodK 

.22% Alllolnd 


7|%,3%Au.0»t S 


AvtdTcn 


13% 23% — % 
11% 2P-S - 1- . 
.. .... 8% 9 ♦'.% 

_ _ 4424u34% TCP.. 33". -2V. 
_ 23 600 10% 10% 10% — %. 

_ 20 1897 33% 31% I2%— Ph 

^ _ 28 26 25'-> 2S% — % 

„ _ 25 

_ M 31 14% 13% 14% _ 

_. _ 704 28% 277. 27% _ 

J2 1A 15 1390 24 23 23% — % 

28 7383 033% 31% 33% t 1 
_. „ 205 26% 25V, 2a * V. 

... 27 2487 17% 16% 17 -% 

_ ...5714 4t Vi. 4% 4%— V u 
_ 21 489 7". 7 7%, - 

7 26 1451 67 % 46% 479, , u, 
_ 15 1515 25% 245,24% -% 
_ 36 513 18 17% 17% — % 

_ 29 1525 35% 34% 35 — % 


AS 


34 2fi% BB&T 
12% 7% BE Aero 
24% 1 4 BISYS 
71 40 V- BMC Sfl 

30V,14’':BMCWTS 
25% 15 BWIP 

22% 1 5% Baker J 

74'-: 

45% 24 V. BncCallc 32 r 
27% 18%Bancm: 

8':3PABama S2 


19 9 134 

_ 34 273 
_ 25 234 
.. 19 8783 
_. 12 113 
2.2 443 911 
_ 34 40 

_ .. 420 
3 10 970 
_ _ 149 
33 9 311 

&3_44 
1.1 - 325 
.. 13 2747 

1.7 15 1318 
-.128 442 
S 20 26 

_ 40 122 
ID 16 It 



AMEX 


Friday’s Closing 

Tables indude the nationwide prices up to 
the dosing on wall Street and do not reflec 
Date trades elsewhere. Via The Assodalea Press 


12 Month 
Mon low Stock 


Ss 


0% ym pe 100s man LewLawnch'iw 


9% fl AIM Sir 34 63 _ 

37 23% ALC - Z 

12* . O' . AM Inti n „ , 

14*. 9% AMC _ 15 

24%:o’.AMCpI 1.75 7.1 _ 

5 r,.ARC _. 4 

5': 2-jARI Hid _ ? 

Ia'V 21*. ARM F pf 
3 1-.A5R _ 

75 61*.ATT Fd 

8>a 5*.ArtConi 
4': 3* .AcmeU 
8>. J’.AdmRlC 
5% i%AdvF:n 
17' . 10% AavMoq 
J’l, %AovMCdr 


384 

714 

18 

14 

57 

42 


8 % 8 ’.« 
34 35’ a 

10', 18% 


2J8 11J 
.180 8.7 
2.73C 43 


. AnvP'xjt 
14', 4 l a AJrWal 
5’,2’Vi. AlrCurc 
Ji-, 2% AifCOO 
7'. a Alamos 

r. rjAwian 
H -l. Alone wt 
18*. 16 AHaaann 
r% %Aihn 
14% S'.ABdRsh 
lPk 7:.AR0UH 
7% 3 Alpnaln 
9V, 4%AWnGr 
10% 4*'i, AllYSlI 
P, 1 ,AmMth 
M’.lS’lAFSlHT 
24*.20"l AB«T 
8% I* uAmEcO » 
P5„ 1 MAE.pl 


121 

24 

too 


7 % 2 * 

4% 4: 

21 % 21 
2% 2 
65% 44 
4‘i 6 

3’Vi, 3' 

111 7 

2 1 

16 15' 


35% 

10 % 

11% 

34% 


4% 

:p. 

T'it ■ 

65% 

6% 

**.. 

7% 

3 

16 

■Vi. 

10 % 


.300 
. 15 
. 18 


3% 

2% 

4' 1 , 

3*'i. 


* I, 

16% 14% 


3. 

2’, 

4% 

3'-. 


lJBl 94 
1J2 5.9 


5% 5 AFamRn 
14% 3*>. AIM 64 
16V. 13’ j AIM 55 
14%ll\.AIM84n 
15 1 Pi AIM 88 n 

19% 14% Am Lift 
24*.15%AMzcA 
14", 6%AmPacin 
9% 6% AREinv n 
11*.» r,ARMIr 
6% 2%A5QE 
TV,, l u Am&tird 
4'-a J i.ATechC 
13% 4r*.Amool 
7*« v.Amoaiwt 
14'-j 10’j Anrnni 
31% 9'iArwnra 
6 P.AnoMla 
10% 4Vi. Anutiai 
14% 5%ADfoon^ 
,1% 6%ArkRU 
ID 4'.ArrowA 
12". 2"-« Arhvlh 

4". 2 ABnJc 
12*i 2'kAtm. 
v, %AIKCM 

3 11 ’.. » Atlas wt 
18% 6'kAiKlvax 

2% vi,Audre 
9% 4%AurorEI 
2% 2 AMO It 


142*39.9 
1.54 10.9 
ljro 10 1 
.960 BJ 
■BOD 4.4 
M 2.8 


144 

400 

4047 

200 

81 

2 

32 

1401 

323 


% 

4% 

8% 

7% 


9*. 


J’i 

8% 

7". 

51. 

9', 

Pi 

IS'i 


U>. Pi 
5% 5 

3% J« 

14% 14'i 


14 

22 ", 

2'Vm 


18% 

23’. 

7% 

7% 


191 

50 


5% 

V'. 

3", 


k 

11 % 

11 % 

IB". 

23 

7% 

7% 

7% 

5% 


_ 446 243 19% 19% |9% — ", 


7', 7", 

3% d2% 
2 ". 2 % 
4 % 6 % 


9% 

8% 

7% . 
7": * 

3% 

2*. 


- 8 1% 1% 1% _% 


1290 

66 

89 


V“ 

2*9 


IV’. 1% 
4'V‘i, ffV,, . 
21% 2V„. 


5% 2HB8.HO 
17’ 1 11%BAT 5 
B2li72‘'jBHC 
28 19 BodorM .73 

11 3% Baker 

6% 4%BOMW 
23>.19J^BanF0 1.91 

14 r ‘, 10’ t Bpnstr g 
9", 7,,BkStnp J2 
25% 21 ' . BT Cw7’ a 188 
I4’.20%Br CV7% 1.90 
Vs VctianrHi 
:’■» lv.HanvttSh 
24* a 14*, Barrm 

1 k^eoriST 
24", 6%BaryRG s 
5 31’., Bayou 

6% :%B5HKwt 
3*4 2*.-i|BSjDn wt 
3% r.BSJCHlDWT 
36%»%B5MRKn 3.01 
3% “'..Belmae 
2a% If.^Bonche 
Blti 4%BenEve 
104 82"aBeraCa 
l-ii *. TiDcrhCp 
54% 10 BloPA 
3% % Bloc tun 

10% 4’., Biovail 
3"*i[ l". i,Bi5cADe 
14'.. 9'iBlkBI09 


■ISO 4.1 
.780 J .6 


164 3% 3% 

49 14 13% 

158 78 77% 

II 25% 35% 
75 4% 4% 

84 4' 3 6% 

19 21 20'. 

6 10 % 10 % 
30 7% d 7% 

79 2l'..d3l 
73 71% 20% 
37 'Vs >V„ 
- 1 % r 


33 23 12% 23 


J% ... 
11’. — % 
77’i —V. 
25*6 *% 
49m * V. 
6"! -Vi 
30% — % 
10 % -% 
/*, — % 

?!'“-% 


26 

102 


1 


440 23 % 22% 

8 4'A, i’-’ft 


2.00c 7J - 


_ 41 


3% 3'if. 
30 2Vi 2A* 

220 2". 2'/i. 

30 35% 35 
575 % % 

11 25*. 

“ 7 

89% B9”i 
IVi, IV 


% 

23% r|% 

4>/|, _ 


234 


T.'u -V, 
5’Vi. — V„ 
2 '.'h — % 

35% - 

'7m - 

25 1 '. 

J% -S 

W'3 

1V„ 


_ 30 .49 35V. 25% 25% -% 


■V., 


V. ' « _ 

8 % 8 % — % 


l?Manth 
Htah Law stack 


SB 


Ditf Yid PE 100s Hign LawLatcSOfor 


16% 7%amrc 

14% 7%BO»&tB 
16% 7% BrlioV 
52’., II Bn2>3Tc 
19 10'kBrdPart 
16% 6V. BdwvSoy 
61 V. 31 % BrndSt 
36% 31% BKIvtlBC 
18% II Bnoekstn 
316. •HMBmGour 
16% 10%BrTom 
11% 6%Brunon 
27V, 14’AButtm 
74% 15 C-CUBE 
16% 10 CAl Wre 
44% 32V, CCS Fn 
50% 13 "jC COR 
31% 11 V.COW S 
11% SVriCACl 
32% 25% CadbyS 
lS'k 4% Caere 
17% B%CakMne 
23% 4%CalMO 
79%16%CalMtC 
18% 14 Came Teh 
34':. TO'.kCWmeA 
fP-iHV.CarWnl 
20 1 . i4'*iCorausfr 
21 15Vi CarecrH* 
23% IO%CarsWr 
52% 21 CaseCani 
14% 10 Y. Caseys s 
25 9V,CosAms 
36 IH'iCasinQDS 


_ 40 4420 15% 15% 15% 

- 43 367 9% 8% 9 

-. S 3831017% 15% 17 
.. .. 38*4 24% - ■" 

_ _ 21 14% 

- 21 904ul7'A 16% 16% - 

_. 54 1011 60% w 59% — 
.... 2366 33% 33% 33% —Ik 
_ 17 235 14% 


1% 

_ . 23 —1% 
14% 14% — ’■» 


.... 14 14% _ 

13% 12% 12% 

12 11 % 11 % 

- 9'i 9% — W 


17 ™ 3668 9M „ . . - 
_ 22 300 16% 15% 16% ’k 
» _ SM 21 MVk 21 

..... b 10% 10% 10% _ 

12 11 280 a>.\ 

341 47 


„ 42' 6—1 

_ ... 46« 47 

134 2?'.i 23 'i 28% — % 

21 240 11% 11%11'Vi, ' V,. 


_ 20 28% 28% 28% 

52 5803 15% 14% 14% — 


Jle J 


BH BV. *’.k 
4% 7% —\t 

__ ja 28 — % 

468 16% 15% 16% -% 

Ml 14 33 33% —'A 

4 91% 91% 91% .. 

A5£ 70 19% 19% — % 

3 17 16% 17 -% 

_ 854 71% 21%71'Vr. *% 
- 4220 U 54 49% 

'■ 13% 13% 13% 


SI 72 9 

11 3254 7% 
22 834 28 % 
46 
21 
70 
17 
63 


19% 5%Cosfltagic 
25 7h. CosnEs 

19% B CothStr 
74% B%C0toCD 
21 12 CtHadon 

34% IJVtCMKtkt 
36% 145, CcHPro 
206k 9%CdlSMr 
54% OO'-jCaiCmA 
45’., 10 Cell Inti s 
37V, IB*. Cel Cm PR 
24V. 8 CellrTc s 
24% 14 CetitCd 

18 lOSCe ntrhk 
43 JO Cemorm 
IB'-, B’. CiMltocor 
34'kZS’kCFdBK 
19% 8 Cetihln 
49% 23' jCemar 
34V. lB'iCervecer 
14% ;’AOtmlSh 
25 !7*.ChlOnFs 
15 3'iDieclcers 
24% 13%a»sel(s 

23 4'.. OwsEna 

19 7 OlKDSS 
60'.* 31 V jCTvocom 

7% 3%ChipsTc 
96 50 ViChiron 
2P: 8'kOvrtmas 
ffl' k IS Coco 
59V. 30 CnnHn 
35% 27 Onto* 

44%74*kOrnis 
40’. lfPkOsca s 
23 15%aiicoitr 
28 1 1 % CJJnloom 

42 Z7%CstH«t 
15 VI I2’i Cobras 
41% 24 CocaBli 
7"? 4’aCodaEn 
24% 16 CoTaxip 
28 11 Gagne* 

I9'.a 13V*CTaylar 
31 V. 17 Catovrfl 

23% t7%GolctBcp 
34'-, 17 Comau 
28V, 14' sComcst 5 

76 UHCmc so 5 
26’ -i lS'-iCornmnet 
23% 14'aCmcBNJ 
33% 27'.. Cme&MO 

23 13'..CmceGp 
37’., I7%CmcFdf 
26V. HP* CampBnc 
18% 7%CmcreL 
12% S’.CptNwK 
49'-< 22ViComiXw 
I6’» 8 Comvors 

22*1 irwCltcSFS S 
14% 10 Conestga 

22'a lB%Coreoon 
24% 13 ConltCl 
21% 14%Coors B 
49% 17V, CopleyPh 
14% JijCopvlel 
17", 9 Cor Thor 
23' a U’kGorGobF 
61 35 Cor dll 

16% 9* .CeretCP 5 
3* 72% Con mop 

17v. 7v,coraCn 
rr-i 9*,catt cp 
74% 15%Cvnlrv5 
29% 20 Crkrfln 

24 9%CrTchLS 

28 10 CrodSya 

37’-.2D CrdAais 
33% 7%CrasCom 
39'.3a’..CuilnFr 
28 17VkCuSICh 

77 15 CygneD 

47", 18' .-Cyn* CP 
38 16% Cyrk 

8V< 2%Cytaan 


.6 18 175 _ 

„ 8 «1 11% 10W 11% *% 

_ 22 156 27 Vk 21% 21% — % 

„ 9 1682 6}k ' 

_ 3 525 15% 

_ 10 619 9 

1j 5 14 593 law 10 low - 

_ 30 91 18% 1BW 1BVS -W 

_ IJ 710 17*4 " ■“ 


6% 6% _ 
14% 14% — % 
EV, 8’k — % 


17 


.. . 17 — % 

_ 1011 17W 14 14% -% 
19 Iffll 17% 16% 17% -V, 
_ 105 53% 53 BW — % 

- 7 443 U 48V. 44% 47% >2% 

_ 715 36% 35W35>Vv.— 7„ 

_ 949 13V, 12% 17% -*'/■ 

_ 322 17% 17 17% -W 

- “■ “ 12H 13 ♦% 


1.12 


M 


3J * 251 
_ 7b 5031 


- 35 274 13 ... 

.. 14 2370 18% 17b 17V, — 

-. _ 7251 147'. 14 Vi 16% - 

18 ID 654 30 29% 29% — V. 

_ 2037 952 d 7W aw-r% 

- 35 2510 43 41% 41% -% 

.43 e 1.7 27 1706 26% 25V. 25V, — % 

3J9 U 11 5977 7% 7% 7% — % 

. . . _ 

3V, d 3Vjj TV,, — ’.k 

_ 44 109 19 18% 19 *W 

_ 29 340 21% 20% 21% -H 

_ 10 922 7% 7 7% *V« 

_ 38 3035 53% 51% 51% — % 
_ 38 8847 4% SVj 4b *% 

-.105 5175 63% 61 62% * 

,471 4J 61 725 1 1 Va 10% 11 — % 

- _ 4230 O 31% 76% 30% -2% 

,28 U ID IN 53% 52% 53 W *-% 

.17 J 29 867 35 Vk W% 34% — % 

_ 15 9519 31% 30% 31% » V4 
_. 2322054 27% 27% 27 ’k — % 
_ _ 494 u 23% 22% 23% -% 

_. 32 330 16% 14 16% -% 

- 29 4410 30% 29% 30 — W 

_ 34 8344 u36% 34%34'Va— 

3.7 19 9 28 27% 27V. _ 

_. 113 7430 7 4% 

Jit 13 _ 54 22% 22% 22% — % 

- 27 894 21% 21 21 U 

JO 1.0 _ 792 If 19b 18% 19% 

.10? J 38 211 22 21% 21 W 

jSO 3J 4 590 18% 18% 18% — % 

J4 ijj 17 3025 24% 23W 23% — V. 

.Q9 J _ 784 17b 16% 14% — % 

.09 £ -21224 17% 16% 16% 

— 3097 ir 27 


IJMomn 
Hkjit Low Stock 


5b 


Ckv Yid pe ICO* H#i Low Lotos) OT'oe 


6b 3%Encofio 
SflVi TWEnHjrjW 
7BV, 11 WEnv until 


30 15% _ .. 

14% ro Ecrrvtnn 
*1% 35VkEncTel 
18 V, 13% EmsiHm 
22 V. 1 1 Vi EvgrMed 
23*1.13% Exabyte 
23% UbExars 
25% UWE'ide 
22 13’kEaqilrti 


Me 

.40? 


.10 


JIG 


M 


1.24 


uvjioOjEmjna 
31 19%FHP 
28W22V«FHPpfA 
23% 9%F» Ini 
31% 1 IV, FTP 5ft 
44 28' . Fastenai 
Z3k,21}iFHCW 
28 UbFlflMMY 
55 45 RftnT 
16% 7"«FkwK5A 
29% 14% Fi letter 

12% 6%RIBuw 
40 17'kFslAkirT 
35 28’VFrATn M 
26 15% FCoIBn AO 

X 23Vj FComC S 1 JO 
25% 1*W FCmcCn s .77 
24% XWFtFdMI Si 
19% UbFlFitCo 

31 % 23% FtHaw 

17 5WRRcNtw 
M’.k 1 3V4FslPglm 
37% 33% FSecCu 
47% JT'.FsITem l.ffi 
23% 18 Ffeerv 

16W SkaFlt.+rn 

20% fURwrtn 
7V, 5V.FflLiO0 
7% SViFBUJA 
54W20 FareSys 
29W 15 Fossil 

32 25 FntlFn 

18 BWFromTc 
32W 18'iFrsnChc 
4iV. 29'/. FulrHB 
XV, 13'',FurtCD 
34 UWFusionSy 

72% 8% FvrtyrlHi s 


Sib 71’, 
17 V^ 17", 

io% lav. 
aw 2tiw 


.40 

1.19 


1.04 


1.04 


ss 


_ 575 4W 4 4*3 

& 1*8 18% 18 18% 

15 235 13W 13 13W 

40 607 20% 19% 19% 

12 129 29% 29*» 29% 

- 378 10% 10b 10'., 
30 7447 61% 40% 61". 
_ 3457 13'idTl*',, 12 - 

t5W 

16 2195 ?r. 

- 191 S 

17 15 18 

7? 77 21 

IS 511 11 

17 3235 79 . 

.. 44? 27% 37‘s 27 l- « 

23 4393 uJS 1 '. 72% 24% 

33 1614 73". 22% 23V, 

47 1391 41 ’-j 40% SIW 

Ill 22 Vk XV. 22W 
... 123 77WI, 77%27t*n. 
14 522 57 SI), 51 V, 

. 490 8'-. 8 8'-. 

20 1898 2S J 4 74W 75 

._ 458 7% 7% 7% 

- S05 34 % 33W 33% 

B 444 31% 31 31 W 

17 235 7JM> 22 22 

10 418 26% 36' , 36% 

10 96 21b 21 21 

. 154 21 Vi 31'., 31 

8 445 IS'., 

12 107 38 

-23?32 7’.k _ . . 

17 aJO 1B% inn 17V, 

■0 2813 75% 25 35W 

10 405 46 05V> 4 S 5 ., 

36 280 23 22 W 22W 

14 942 13V, 13% 13 

_ 2351 9% Q 9 9V|» 

« 1165 5Tk 5% 5% 

9? 5919 ShdSH 5Vi 

„ 4091 53% 50'k 52%- 

35 173 » 25% 76 

13 92 31 V, 30% 31% 

34 1748 15% 15 V, 15% 

47 387 70 19 19W 

M 612 34% 33'.'j J3% 

54 63 17% 16V. 16W 

505 33'.-, 31 31 W 

41 2445 19’i 16% 18% 


-VI 


— '.k 
- % 


1% 


- Vk 

— % 

- % 


-1 

-% 

—'A 


14% 14% 
37% 77% 
6 7% 


— W 
— % 
-1% 


— w 

— Vl. 


G-H 


un 


25% 24% 


... . % 

33 B 224 30% 19* u 19v„— «?„ 
2J 11 1109 30% 30% 30% «•% 

1J - 81 17 16% 16% 

- 2325 210 23b 23 23 '1 — b 

4.1 9 474 23V. 22% 22 W — % 

_ 85 355 Bb 8% Bb — b 

_ _ 1329 6W 6% 6*u — ' /„ 

_ 39 1079 47% 46% 44%— 1 

_ 19 805 12% 11% 12b " ’k 

- XJ 1SS3 2346 23% 23% —‘i 

- r 57 19b 19 19b * "<* 

_ ... 80 24", 23% 24 

18 _ 389 18 17% IB — b 

„ ft 754 18 d!7 17 — W 

- - 739 5Vu 4% 4V, *’/. 

_ _. 647 14'/, 13% 14", _ 

12 505 — 


, _ ft 18% 18b +b 

25 2813 59V, 58H 59Vu -Vt. 

- - 3007 14b 14 14% —"u 

- X 169 14W 15% IS _ 

- 44 319 17 16W 16% — b 

- -46071 11 'Vm 10% II —1 

- 21 143 25 74 w 24 W _ 

.1 23 4715 22V. 21V. 21% _W 

_ 16 3029 18b 17V, 17Vi * W 

._ 19 772 23". 22'A 23 — % 

_ 40 523 34% 34Vk 34% - 

_ 17 4677 8b 7% 7b - b 

1.7 11 46 35% 35 35% *b 

- 34 427 21 Vi 70% 21 — V. 

- 17 7087 17W 16% 16% — % 

_ 40 9494 40 37 W39W+7% 

- 14 1 132 34% 35*A 35% —’A 
_ -. 234 4 3% 3% ... 


32 21V.DF8.R 

33% lflbDSBnc 
36b ll' .DSC S 
29Vi 17*. DSGlm 
27V. 12 V. DSP Gp 
31 SViDamark 
23% i«"kDanka s 

19 12 DaKCP 

73ii r ^Dataware 
27*1 22b Dauprm 
27 14'oDavdsnA 
22V. 9%Davf7un 
33V,aWDeVrv 
24b 11 WDeckOut 
43’a 18 DellCptr 
23 b 10%Dolnna 
47 xboemspiy 
34 b 25 b Deputy 
18 6% Designs 

77Vj I9V, Dial Pge 

18b IOV1 Dialogic 
32V, 13’-k CKbrnl 
24% I P.Dloilnll 
24V, io Digicisa 
30 7’iDgtlLnk 

30 BbDigMiC 
37% X Diane* 
2SY] 12bDacZone 

27V] 17% DotlrGnl 
36bl2%Dat*env 
X 14’APbleTree 
32 'A 18 Davairn 
15b SbDresB 

31 b 21 ’■*« DreyerG 
44’. MbDumcrtt 

20 UbDurironS 

27% 15%DvTctiC 
28V] 14% ECI TlS 
Ub 9%ElSintl 
34 8 EMPl 

34 V. BWEglHrt 
38 MWEatnvon 
8% 3lkEcoaen 
48% 9>.«EdcAH - 
11 6bEgtfteed 
16 Vi BHEIOCi ' 
50b If'.-i EJdrgls 
41 ITMEtcArr 
29W 13'AEFII 
16b 11 EmmisBd 
I3'k 3b Emutex s 
19% 4"'cEncad 


.08 e J 
1.12 16 


M .9 
J2 2J 


.131 J 

u 73 


1 


30 104 28 

13 4 27% 

2414809 29Vu 

14 IX 26% 
_ 815 25% 
24 265 12 
X 1227 19 
18 1186 18% 

- 4177 13% 
II 317 24 Tk 
39 659 22W 
IB 101 19 b 
19 241 28b 
16 125 16b 
24 9634 41% 
_ 1003 13b 

16 1101 32'/, 

8 20 31 

74 1054 7b 

_ 34 77 W 

_ 961 17b 

- 206 71b 

75 867 14% 
42 574 23 

- 1111 IB 

_ 1138 lS'k 
14 59 37% 

83 281 19 
24 2539 27V. 
11 1165 21% 

- 246 18% 
_ 1340 26 W 
14 1880 10% 
X 673 27% 
30 292 42 

17 170 16% 
_ 1621 uX 
2410892 M% 
16 474 UW 

1 360 8Vj 

0 691 11 b 

1 199 31% 

564 4b 
464 • 20% 
512 8% 

579 Mb 

S I 1415 39 V. 
11500 22% 

'■“a ft 

.. 1615 11% 
71 732 18% 


27% 27% — % 
26% 34% 

‘MV.-miu.. 


j V.JB'b, — W. 

S ft ^ 

18% 18% — b 
17% 17% —V: 
low 11%— iw 
23% M 
70 20b— 1b 

18% l«'.-, — Vk 
27% 27W * 'M 
15% 16'A — b 
40% 41% -% 
13 13b >% 

30& ll ■’ T5 
2 p 3 zT% — "i 

15W 1 6W —V, 
20% X% — % 
16 16 — W 

21 % 22 % *% 
16% 18 *1 
14% lS'k ♦ % 
37 37 — % 

18% 19 

26 V. 26% -V, 
20 % 20 % — % 
1BW 18% — % 
24b 24b "2b 
10 10 —'A 

2SW 2S%— lb 
40 4P, + 1% 

l»W 14b —'A 
28% 29% *y» 
19% X 

11% 11 b ... 
8 B'A * % 


10% 11 ^ _% 


$ 


30% 30 U 

,2?" 4V'« **'» 

js m J 8 s % zk: 

21% 22b — % 

10 % 11 % '% 
17% 17b _ 


18b « GMIS 
25 V, l7b’3P Fncl 
41 V, 7%GTI 
ah 9 >6 Golov 
31 12bi3armers 
18V. fkiCasoflics 
24% 9'.GOte2WO 
46b H’-'iGaCrHIt 
MW 15ViGonr,i.iir 
49% 37 1 .! GenoNnst 

30 b 4%>3ensia 
UW 18 Genlo* 
38b 24 Genzvm 
17% 6%GeoTk 
61 % 49 V. GrrttSv 
23% lt’.StaSPG 
28b 14 CdCew 
19 6WGileaa 
60*k33WO/erMVTS 
12b SbGlbVIlao 
28’ , 10’ iGooOGv 
24% 19%GouldP 
24". f7WGrnt»C 
19b 13",GrtFrKl 
27% lSWSILk&i 
11% abGIN'rSv 
?4’.k le Gram id 

33 IS Groves 
20% 10 GuesIS 
J0%19bDoll5ou 
31% 7 GuPla 
32", 17%GymOreS 
35% 17bHBOs 
40Vj 17% Honor 
35W 18 HamlmBc 
18% l2bHarpGp 
18 ryHarvInd 

24b 19% Harvi pi 
17% io%HauenB 
27b l? HUMS vs 
39% 15’kHJtOhP 
35’. 13%HltwAm» 
2*%13%HeanTc 


_ 29 480 
3J 917387 

- 18 1378 

- 12 18 

- 50 2M 
_ - 549 
... 18 7530 

- 78 X 

- 3621419 

- - 102S 

- - 3348 

- 25 933 
.. 12 1444 

_ - 1253 
lil 17 298 
27 -. 166 
J IS 8779 
... _ 1219 
... 31 816 

- - 842 

-. 12 752 
16 20 632 

.9 24 


17". 

22'«'i. 

17b 

17". 

X 

18 


73 


46b 
24 V, 
43'k 
4b 
23 
31% 
9H 
61% 


IS 


33 

_. ... 737 
73 12 626 
-. - 1067 
J 23 339 
15 17 170 

_. 22 771 

- - 37 

- - 1338 

- 44 2285 
S 37 5240 


.8 9 S5 


.. 10 478 
1-5 15 49 

_ _ 281 


15% 
1 DV] 
57 
10 

12b 
22b 
71% 
16% 
25% 
9% 
73 'A 
74V, 
18 

30 % 

12% 

30'k 

32% 

35 ’. 

271, 

13 % 

17V. 


88 


16b abHcno 
U'kiibHelixTcs 
9 b 2?«Hemasurn 
31 12bHerbHe 
30'., 9V,HlvwaEs 
31% 13 HlwdPv 
18 3%Ho«>aic 

8b 3»fiHmeThea 

18% lObHomcrM 
39 26 Homeric 
70% 9 HameTBs 

34 24 Honlnd 

71 b Il'iHomW: 

25% 15% Hunt JB 
47", 14%Huntco .10 
22'. 16b HuitTBn S .80 
41 21’fHutdiT 
7% 2 HydrTdi 


M 


30 


... - XI 13% 

- 26 184 u27b 

- 71 9817 25% 
_ 37 434 34 

- 93 513 XV. 

- 36 72 Z8'7. 

I A 16161916 11% 

2.9 17 179 31 

_ _ 354 JW. 

4.9 II X842 lib 
_ 76 747 79 

130 496 14% 

- 50 1449 u 18b 

- 15 1366 6 ( '-c 

._ 29 265 17b 
-.16 74 34% 

_ 28 589 10% 
1.6 18 184 28b 

- X 455 14V, 
1.2 16 854 17 

A 31 111 76 

4_5 V 2785 16W 

- 18 329 28% 

_ - 656 5% 


16b 16% 
2iv,21%.i 
!6b 17 ■ 
16% 16% 
29 29 

16% 17'k 
21% 73b 
44b 44". 

a 24 

41b 41% 

4b 4% 
23 U 22% 
31 II 

9'.k ?v. 
60% 60% 
14% 14% 
14% If. 

»*« 10 % 
54% 54% 

9", «’-a 

11 ". 12 
23 22% 

21 V. 21% 
16"> 16% 
25% 25b 

8% 9 

22% 73 
Mb 24 
17% 17% 
X »% 
12"il2 ,v t» 
29%- 
79’. 30 
25 75 

27’. 27% 
13*. 13” 
16b 17b 

14 W 
U*. 13 b 
74") 27 
24% 25% 
32% 34 
73% 23", 
27% 27% 


— b 

-IV, 


— ’i 
-1’. 


-IV, 

— % 
— b 


—I Ik 
— % 


— Vk 
— b 

b 

-% 


tl lib— 


X". »v, 
Tlr 3V„ 
17* . lTk 
78V. 28% 
14", 14b 
14% 17W 
4 4"k; 

16b 16% 
34". 34% 
10 HK> 

27 V, 27 V,. 
14% 14% 
16'. a 16b 
74% 26 
if’. irv 

28 28". 
S'.*, i 5% 


— % 
-b 


— b 
-% 
- b 
-% 
-Ye 


l-J-K 


IBV.lObl-STAT 
Xb S'-IDBCms 


Ak 4%IDM Ertv 
21 V, lO'.lEC Etc 
33% 24 I HO PC p 
3S'Vi.l8 I MRS 


sj'H.io iivuia 
16b 14WIPC into 
IS'/. 6 ImuLoo 
14", 6’ilmunftsp 
22 lDblmune, 
25b 10". InFooj 
71 7b InaCom 
20% 13 IndlooMV 
34% TO". IrvfnBrd s 
32'A 17", IntoSott 
39% IP .lnfcRos 
78% U". Informix 
27% 9 Input s 
74 Vi MValnsoFn 
19 12%lnsilCO 
16V, 10b InatTc 
45b 24’. unsAut 
34% lib Into Pv 
29> i 14’, InISilSy 
73V, 50% Intel 

I9!k II'.-, Intel WtS 


1D% VblntlSm* 

- — - 


28 13%lnlelE. 
15". 3%lntNtvrk 
(7 nblitrrtan 
11b 7%lrtiBDh 
66 b 32blntaHll 

Mb x% interim 

8% 3V]lntrleaf 
17b 9 InirCm 
33b 17% intake 
25 15 Intlmag 
|7b 7blnrersly 


I'WI. noYOtrd 


13’. (Iran 
'. 10’,J8.J5n 
41% 17 JLG . 
27 '4 8 JSBFn 
191*11% 


MSBT - 

x% 18 JonnsmA 
Xb 11 Jortei A 
"1 17b All ' 


S b 10 Justin .is 
W IS' .KLA 



8% 


29% 28% XV, — % 


5 

.. 15% — 

29b 29 29 'k 

36b 34% 35’.'.— 1’« 
I4W 14'k — W 
7 7b 
8b 8Vi. — "i. 
14% 13% 13% — 
XV. 72W 22'k 
9 8% 9 

16b 16V, — 

29 29V U — y„ 
MW — b 
13 13 — % 

25 , «26':i t — l",. 
31% 22 b * b 
19V, 19V, *•» 
27 27 — % 

12’k 12* , — 

33% 34V i *’b 
25b 36»k 
XV. 24 V. — V„ 
59’k 40b — V* 
13", 13*1. —V,. 
2". 2 "?b " 

15% <4 
3% 3b 
13 13 

7% 8b - '• 
63% 43% — 
25% 25% — W, 
. . y.» 4’k 

12 11% IP-4 — 

32 31 W 31%— 'b 

22 22% 

K iS% — 
13% — b 
67b 48 — 

unWrA 

23", 21% 22 —1 

23% 24 — 

I7b ub— iw 
19% 19% — *, 
13% 14 V. ... 
18% 19 — 1 % 

26 W *% 




13 Month 
High LOW Stock 


SB 


Dkr YU PE lODs Huh LcwLatosafoe 


37 


3T^I 

91*.kl3 Kernel 

»*• : 1 1 Keneiecn 

19% fi'.Kaetai 
37b 2n.KevFn 128 
16 W 10% Kncft-Lr 
18% 2’AKrtwiW 
28bl3V.KOmaO 
24b 10% Kmwi 
34% 9% Kuickc 


- _ 475 5% 5 V, 5% -’k 

26 X 481 78 27*'. 27’.. — % 

-31 8 21". 20% 21". - V. 

._ _ 1042 13 II’.-: 13 - 

19 93 17% 17b lib — b 

4.6 17 428 28b 24 28V, — 

_ 16 4 13b 13 13", _. 

... .. 291 31k 3% 3Vt — >b 

2118071 37% 35b 36’,— 1% 

- - 201 14't 1 4 14’: -”i, 

_ 14 7444 17V, 15% 17b -1% 


L-M 


23". 12%LQlntS 


5% 2 
43’,I2%LatnRsch 
39b 39b Lartanr 5 AS 

23 V. 16 V, Lance .96 

35 Vk 14", LdmkGph 
38b 17bLanarvs 

36 iSbLanostr 
186. SbLasrmrc 
22% ISb Lattice 

31 2l%Lawsn .48 
n%14%LeodrFn 
24%l lb LmoCo 
19 10'A Lecnters 
34% 19 Legent 
3J'. 16V, LevelOn s 
X 7bLtELISA 
1404102' ILinerd 
25b 18% Linear*: 

S0V| 13% UncTl s J3 
49% 33'i,Un«irTc JB 
9'., 4%Ui»5m 
17 "i» LiteHuse 
11% 4%L(Ucck 
27% 12 Laewen a M 
M% isWLnesstii 
17% I1%LI Bee 
12' a ibLngsik 
86b 29% Lotus 
I4bJ4bLavota AO 

M’kZl’kMGI .05 

53 M'.kMFSCm 
21 BWMK Rail .16 
16*6 14b MLF Be 
raw 17% MS Carr 
12b lbMTCB 
21 7ViMacromd 
19% f’.kModga 
40 b 76 b MaamP 
21 b 17 %MosGp .76 
27W14%Mctoin(o 
14% 7% Mar cam 
8 TbMarOrl 
27*k 1 5% McrmcrH 

ZTk 8 Marsam 

24 tEF’-.MQrsnils AO 
23% 13%Ma3iand .Me 
lS’.k 9V,A6a»CrHlt 

17 5% Maxim Co 
65b 37 W Maxim 

8% 2%Ma3>tor 
2ft% 17% MCCor AB 

40 23’k Meriapri 
16% BWAAedar 
73*4 IDVtMedCrro 

26 19’AMadSn .48 
70% 13 Me<E5ens 
19% 11%Medstaf 

18 3%MeganrC 
X 1 ', 10b Maaatest 
34%i5%fttoiwre 

18V, 12 Mentor Me 

17b 9%MentGr 
X'k ITViMercnBk: 30 
24% 6% Mercer 
37b25’kMercGn JO 
33b 24% MrdnBc 136 
22'k 7 Merisel 
32b 17 MerilCP .12 

23 6 MMaAr 

18^'d 7’.k Metnanx 
MblPAMetridA .12 

34 lTkMetrcm 

13V, 7%M)cfllF JO 
44 b 29'k MtonSlr 
B0% 54%MtonNt TJX 
34% ISbMicWars 
32V, 9V»Mier Ag s 
43b 18 MkTChPS 
8% 2'iiMkxaan 
B% efkAAicrop 
U 16 Vi Micros 
59% 38 Miesfls 
I8Y. 4 W Mla-test 
57 V. 11 tuMictcttSv 
33 W 24bAAidOcn 
25*/. IBWMkllFn 315e 

31 b 22b Mid Co JJ, 

35 23%MlltrHr £7 

28%18%Mkcmln 
19'.il5i"MMhsChm 

74 ISV.MitokSr 
J7W15bMtaTel 
3P.-1 22 V, Module J2 
36W13WMoriTOk 
44 w xv< Mo lev 3)4 

41 % Sf'.i MrkexA .04 

31 I6W MattenM 
23b 13b Moneys s .19 
Ifb aWMonrPas 
12% 4bMOKom .04 
24*', 1 4% MovieGal 
21% 12’A Mutter* 

39b 27 Multmd n 


.. 54 758 71 
_ 22 4173 22% 

- — 7*140 flb 

_ 23 3206 42*-, 
1.4 17 757 34% 
5J 19 466 IB’.j 
_. 49 5416 17% 

- 69 26V. 

_ 19 867 33W 
... 22 545 13% 
.. 14 2123 17 

IA X 91 27 
8 319 24% 

- 41 1586 74V, 

- 120 98 18 

... 19 2992 29V, 

- 20 686 18% 

_. II 1865 9k, 

- 121 B94 135% 
... 19 B67 25 

32 17 286 17V, 
A X 1675 47V, 

- - B932 uTOV, 
.. 72 7SQ 25k i, 
.Iff m 6% 

_ 29 996 24*., 

_ 35 PM 76b 
_ _ 915 14% 


41 h 


- M »* 


- -18707 .. 

1.9 13 42 21 

2 1751113 23v. 
_ 776 37% 


_ no M't 
1J -. 363 10% 
_. _ 421 14% 
-. 24 «9 24", 
_ 2346 2% 

- 52 3704 16b 
_ _ 1248 11% 
_ 1512587 H 

16 13 532 21". 
_ - 211 18% 
298 ?V, 

_ 17 609 4 

98 425 22V, 
_ S3 1H 13". 
2.9 20 1545 28% 
-9 It 377 16% 
_ 27 1746 13% 
_ 39 189 16", 

- «3 388 64% 

- -11079 3”, 

2.4 IS 2349 X", 

_ 4! 2211 40 
_ 24 103 12". 
_ 25 569 22W 
26-199 av. 
_ _ 434 17% 
_. 32 1061 17 
_ 24 7377 11% 
_ 10 553 14% 

- 31 1567 26 

J 16 59 IB". 

_ _ 1065 lib 

4.0 11 1X7 71 
_ 11 4987 14 V, 

IS 9 401 38% 
4 3 11 1965 29 
_ 10 770 9% 

.7 9 440 18b 

_ 14 5765 8% 

_ 3912126 IS*. 
A 20 8 7 20V, 

_. _ 1395 14% 
U _ 1473 I2W 
_ 28 1111 39V. 
U 1 702 78% 
_ 34 8862 31 W 
_ 8 4265 11% 

_ 33 1375 43 
_ 743 7% 

- - 1843 8% 

-. 28 243 U 35% 

- 3040900 59% 
.. 39 983 IB". 
-. 59 1563 U99% 
_ 13 200 24’, 
J 14 IX 23% 

2A 7 2303 28% 

2.1 15 783 24% 
_ _ 712 MW 

- 26a 18% 

- 24 151 21% 
_ 400 4948 20% 

1.8 17 1565 Xb 

- 13 1647 14% 
.1 73 671 4Tl-„ 
.1 70 KM 41% 

- _ I1M 20 

1.0 9 1098 19b 

_ 122 T86 13b 

J _. 875 Bb 
_ _ 220 24V. 
_ 16 455 19% 

- 13 2173 X 


41 »k 42 *k 
33 34Vj 
18 18 
17b 17% 
35V„ 36% 

33 33b 
12% 12% 
16% 18% 
76% 24% 
24% 24b 
22 % 22 %- 
17", 18 
i7% a ■ 
17% 18 

8% 8% 
134". 135V. 
S8W 24W 
16b 16b 
46’. *7V|, 
9’k 10"*r, 
24% 2SVi 
6W 4% 
23% 24b 
24% 74%. 
14% 14", 
8W B 1 .: 
3fr’.37'ku 
20% 21 
22W22’Vi,- 
36Yi 37 
10 )0W 

MW 14% 
Mb 34b 
3% 3W 
16 16V< 

10% 11 
34% 37 
21 21 
17b 17b. 
9 f’.'i 

3% 4 
22' ■ 27V, 
12b 13b 
20% XV.. 
16 16b 

12% 13% 
16 I6W 

63% 64V. 
3 J'b 
19*6 19% 
XV, 30% ■ 
17% 17% 
31V. 31b. 
22 "i a*. 
17% 17% 
16", 16% 
10 % 11 % 
14V. 14% 
24 25W 

17% 18b 
11% 11% 
X 20 
13% 13b 
27% 27*. 
aw 28% 
9% 9*1. 
17b 18 
7% B’, 
15 *Vm ISki. 
14% 19% 
14','. 14V, 

ri% 11% 

38V< 39 
77*. 78 
31 31 

11% 11% 
41 43 

7% 7»i 
Bb 8V. 

34 3,V> 
58% 59% 
17V. 18 
55% 58'. 
24 W 24% 

a% a%- 
zr>-i n% 

24 24", 

27% U 
17% 18 
21 21V, 

19% 20 
29'k 39", 

14 14% 

43 43": 

40’, 41% 
78’k It’-' 
19". 19". 
13% 13% 
7% BVt 

a% av. 

19b 19>, 
29\* 29b 


-IVi 


- • 

-w 

— ’ 9 

-b 

-*k 


-1 

-| S 
— W 
— % 
— Ik 


— W 

-w. 


-V, 

-i*5 


t%* 

-IV- 


-2b 
— b 
-1 

-V, 

-*'» 


-b 

-% 

-% 


-Pk 
- b 
-IVk 


♦ W 
-lb 
-Vi, 


— % 
r-% 

♦ Vk 


— % 
— b 

—'/a 


— W 


1’j 

— Vi 
'1% 

♦ % 
", 


— ", 
-% 

-<b 


— W 


-% 
-% 
— % 


N-O-P-O 


.16 


sa 


34", 24 NLAC Re 
7T-. MbNNBOH 

33 a". NS BCD 

15 lD'-ntJACC 
14% lObNlCDtr 
57% 25 NotGvPS 

9% 3’. NT earn 
17b IP', NhwdCI 

34 V, 6 NcrtrBrv 
32W lSbrJauhca s 
31 ’,X' iNellcor 
26 I7%NHsnT 
18% 7*.Nettrame 
2B U'kNetinngv 
U%12WNt\vfcG 

14% FtiNiMcIma 
9% 6 %niwhSy 
II V, 15 NE Bus 

16’. 5%NwlmoB 

16 8%NewWnd 

Xb 7’iNwDkRs 
54- ■ 18% NexielCm 
IIP, 6'-:NtHeDr 
«J 23*1 Norand 
63 48' . NardsA 

48 31 Nardst 

19 14 DJorrell 

fl", 2'V., tJABio 

43% IS’i NOrTrsl 
21% HbNwratAiri 
13b 6bNvv5iiWr 
2>k IS NOriMC 
26b 13% Novell 

49 Xb Novlus 
19b 10". Naven 
23 IS NWCateA 
24V. 14 OM Grp 
19*. 9 OPT! 

14": SbOdcoan 

1 0b IWOctaanvyt 
X 15WOCM 
IBWIIHOHeLob 
34% 26W OhioCa S 1.46 
3^. 29bOtaKoni U4 
17% 6% Of icam 
14 W 4''.QmewciEr 
39% ZS'-i OnbCP I.OT 

10% 4'i 
45*.-, IB 

20% 9 


A 15 1 556 78 25% 

A — 135 71 XV. 

12 11 389 27%d27 

_ IS 383 lib 12 

2J _ 353 14'.'] 


10 3604 34V, X 


JI8 


_ 3a 159 

340 4715 17 

- 14 8561 7 

- 19 439 3T 

_ 73 285 X 

A X 139 X 

- 15 442 9 

_ 40 4748 26' . _ 

- 26 920 19% 19b 

_ . 006 8% 8% 

-.117 818 7 6b 

4J |9 34 19 18": 

- 879 6 % 6Va 

- - 22&D 13’. 13 

_ 40 519 30' i 19b 

-10769 2% 2P.I 

- 2 4IB6 P.i 6b 

.. 17 149 M'., 37b 

1.0 14 166 56% S5*k 

.9 X 3843 45 1 -, 44*. . 

J - 214 17V. 16'., 

._ X 2524 7*. 7V. 

14 II 1167 37 34b 

_ _ 8191 21% X". 

16 749 6*, ; 6'.* 

_ 15 SIS 18% 18W 

... 2 1 16020 I6b 154. 

- 73 6934uS0'k 48b 
491 14% 14b 


28 


18V, 


I 19 1850 19 
I A 14 IX X'% 19" 

I If 242 'flb ,3 ' 7 



33 ■ 7 499 37Vi 27b 

_ ... 148 6 SW 

_. - J48 73 Mb 

- 3! m 20 


.. 4311693 45% 44% 


_. _ 1149 1B*4 IE 


UMcr.m 
High LOW &I0C6 


Dlv- 


St" 

Ytd PS 100* high 



Lew Latest cn'oe 


2% II Omdo 

21’., llbOsnBA .41a 

nl,32’.OrtdMI* 

37% 10' :PXRE Co JO 
6M44l'iAaCar 1JX70 
X*-. lO'.i PacFtiys 
79' , 30’k Recife A 
75 29'kFacJica 
34':X% PamnoN 
20'., SbFa'rTch 
33''i X J . PaaoJotvi 
43' i^PlPormTUi 
14' • ISbPaTOBIc* 

«'i IflbPartHId JOe 
34% ISbRiuPnni 

40' i X! : Puvchei* M 
44’i W 3 '. Pontoir .77 
16’ » S’lPwCT .48 

96% 59 »eor>CTD!4.25 

40’, l9'.,PeaoCnc 
IS', 10 BoapHrt J2 
ISbJJ’uRcopTel 
6i 76 ooopin 
32b 10*, RorSptv 
» 9 Fetarr 

34'* II VjPemgo 
17*. S I Db Pot co An 
2b 12 n PirlGeo 5 

38V.3I'.] PoIsfAari 
1 7b e’lPhnnMki 
19V. UbPlwmAB 
2'. 13",Pntrtn 
36": 13' .’PhvCor 
30 b 18 PpysCpA 
27'i lfr'.jPhvSiCHIt 
»»-, IQ PiCTcH 
n'ft lO' .PindMk 
49% E'nPionr&p ' AS 
40 , k79 < : PtoHiB AS 
19bI7*tPionSIS .17 
41’, 8 Pilcner 
35 3' : PtolVjtt 

D% J’.PIaiTc 
2% 14%Din*eri 
9*. S'", PlazHrne 
2% U PoiioTro 
69": 39%Pwrsaft 
18% 16*ii Prmr&i 
30% B'.Presffvs 
50 uv.0res)d> s 
II W 13 PncCWS 
JS' jMWPrcTR 5 S2 
31Vj I(i Prlmodn 
17": IbProcyl 
36’. 14’iProflilt 

1 J S% PraTSv 

27%17>.PrrBvsh AS 
3iv* {.’aProxima 
17b 5 "a PlireTC 

24 7 Piuwwe 

24", 14'iPurltBen .12 
24b M'.PuioPd A4 
16'': 5%PvimT 

J8'i la‘ .-Pv*iS3 
S8% 29 1 ,qvc 

17 9 QuaoSv 

43% IS Qualcm s 
X- . |9> aSlFooa JO 
20’, *’,C3iienfum 
4I’k23%QuanlHll 
2b 20 Quoencil X 
30". 9i .Quick Rsp 
14b Sbauicxtr 

17--, vb.juUiUw 

747, IP.iOulnSvg JO 
X". 16", QuinNIes 

Z2>, 15WQuixfe J2 
21* ■ 16b QuorumH 


'? 'W {SS 


.. ... 

.. 40 3866 29% 
_. 41 3Sri 76% 
IJ 6 113 MW 
74 9 S3 4 47b 

35 748 19", 
„ 26 327 74% 
„. 26 648 70% 
_ . 1906 31% 
„ 22 3419 13% 

- 53 27 Xb 

- 3013036 34% 

- 103 7386 18% 
1.0 18 163 fob 

_ X 1403 19V. 
1.0 36 10^ 38V, 
1 A 18 338 44W 
3S 0 413 13% 
52 - 2 83% 

... - 86 19% 

23 ID 666 14% 
_. - U52 - 

_ 66 1109 
._ 2141 
„ 19 197 19 
_ 21 5516 16 
„ _ 279 17W 

- _. 1260 31% 

_ .. 646 37% 

_ 31 521 UW 

- ... 73 18% 

_. 20 65 32% 

- 22 3*9 35 Vi 
... 18 915 22W 
... IT 109 23W 
... 77 2091 17b 
_ 39 230 IS 

1 4 19 167 45% 
2.2 19 5060 31b 

t !? 


Ae 


15V, 15% -% 
13% 13% 

aw 

74% 73% — A 
95 25 1 ', — V, 

41% S'/, *W 
18% 19 

n 74W«iw 

68 70% -1% 

sa% spa * w 

12% 12b— 1 % 
WW 29% -% 
33 34% “1% 

l&'A 18W * % 
x x — % 
18b IBW — % 
37 37 — T, 

43% 44 — W 

13% 13% 

82% M% —'A 

19% 19»i 
14% 14W 
4% 5 *% 

54 54W— I 

12% 14V. -1 
18% 18% — % 
15% 15b — W 
16% 17 — W 
20% MW — ' 


36% 36% •— W 

TT% — % 


= Q ft ft 

_ 21 611 35 b 

“ S 39 11^ 

= *7 ??% 

_ _ 2140 8% 

- 193 TO4 43% 

_ 5204 I5i*» 

I, 7 17 1382 31b 

_ 139Bu39% 

- ... 6543 3 

_ 55 130 19% 
_ 16 321 30% 

- _ 1065 )7'i 

- 18 1208 9W 

J. 0 14 107 MW 

_. X 1156 &W 
.. - 870 5b 
... 27 1563 15 
S — '60 HU 

2 A 13 26 24> Vi, 

.. - 2E8S 10V. 
_ 2 3256 25% 

- 48 S499 43% 
_ 10 US 14 

_ 6317176 Xb 
.9 17 119 2% 
_ 1227715 IffVu 
_ X 1567 38 
.B — 26 23 
... 22 409 16b 
_ 24 Jt« JO'* 

- 19 533 17% 

A 21 49 241%, 

_ _. 26 27% 

1.4 II 658 16% 

- X 72 19% 


10% ... - 
18% 18% —V. 
31% 221A _ 

36W 34% — W 
2J’A 22'k - 

23 73 — 

14W 17 -V, 

14% 14% - 

44% 44% * % 
XV, 30% % 

irw 17% -% 
9 9W ... 

13b -’A 
72 23%. *91i 

24% 24% ._ 

9% 9% - 

II lt% - 
S7W 58% * % 
16% 17 —"l 


7% 8VV* - Vv, 
‘ i *3'', 


XV, 43% 

15% 15b 
X Mb— 1W 
31% 2 »% 

2% 3%— 
18% 1B% —n 
30% 30% -% 
14V* 16% -A* 
9 9 — % 

36 54% * lft 

27% 27b *— 1 '{it 
5% 5b - b 
13% 13% — 1 
22% 23V. - 

14%24'Vu *%. 

9% 10Vi« +%. 
54% 25 — 


42% 43V . — V U 


aw 596* *1% 

2% 23V. — Vu 
14% 14% — b 
37 37*4 * b 

26V. 26% — ' W 
15% 15% ♦ *A 
95* IP6, 

17% 17W - 

I4W24Pb +W. 
27'/. 27% — '<* 

15% 15% - 

19% Ifb - 


R-S 


.10 


•10e 


18’. U RFSHtl .96 
19% 16' . PPM J6 
II’: 4% RodicoG 
18". I'.kSodluss 
31’*, l9*>Rouiex 
25 9'iRninTc 
17% J' .Pollv's 
3J‘k IZbReLile 
19", 9':ReadPt 
77% 12 Recatn S 
M'k 15 Redman 
& 16% Region 

36'. XbReanFn I.X 
14 A'jRdBcP .40 
31 iSV.penCom 
IP.llbRenalTrt 
9% 4%Rntrav 
5 1 * 2%Repap 
16b 11 RecBco J2t 
23' : 5 Resound 
11". e'.kRutH 
48b 34 ReutHds J2I 
22 7',Re>Suns 
11% 3’»Rtolton 
1BW13 Richtood 
IP, /bpigsfil 
18V, llbRiOHn 
2S'-. IS' : Rival 
74 V. S3", Rooa& v 
42’, UbRDfFnr 
21W 14* .RocriCS 
18b lJ'iRoJiTen X 
31b X' .RMCanll 
IE'-, nbP.SVIlFn s .44 
X IB Roecr JO 
18b IS'.RassStr JO 
27V. 12' i Rulodi 
TO", 16'.. Rouse AB 
58"; SO 1 , Rouse Dt 3J5 
20V. 13'i Rural Met 
9b HkRvanF 
20% 6",S3lr*CS 

2'.12%sasvs 
2B": 17 sEICorp .16 
UW iflbSFFefl J8 
31 S'iSLMs 
63 b 47'. Safeco 1.96 

J3 1 ': W i Sltv I Si 
36b 24’., st Judd .40 
24’k 16’, SIPaulB s .30 
3P : 15' « Sanmina 
10’: 4*-.5anrCrz 

28". 2 a ,Saciens 

Mb 18 ScndBdc 
2'-. 17"',5ehnitif 
S4V, XbScnolCp 
x I6",sc7iulcr 
X 21 Scnimns JO 
2b JbioCJono 
45'.* 19bSciGme 
55* - 25 Scimed 
13’ « S'.SciosNnv 
?6 ilSbicilen 
UJ. ^bSgeBd * 

l‘j'^°nSuod 

79b7lusnrMea 64 
26' , 10, ShawGp 

17% SWShufMat 

ftftsas? 1 

16b 6bS«rSm 


5% 


6J if 1873 15". 15b 15% -r % 

33) 19 688 19V. 18Vk 18% 

1 21 

- 55 UB 20b 

-. 17 697 15% 

- _ 812 4% 

- 21 34 24 

- 641 6282 18% 

_ 20 183 19 

... 6 021 17*4 

_ 43 

34 II 


" = 

_. 2S *6 
-XX 

- - 2563 
1.9 B 1083 
_ 29 7 89 

- - 885 
S 37 2477 
~ 35 1763 

- — 995 

A 15 25 

- 4167 


5% — Vk 
9 *'%. 

X 2DVk — 
15% 15 Vh +W. 
4% 4*’. _ 

aw 54 + % 

17% 17% — % 
18W 19 - 

16% 17 —'A 

407 36 Vu 35% 36 - 

33V. 33% 2% — W 


A - 

“a . 

A — 20? 


JO 


10% UWt. — 
fa* i MW 26% — % 
18% 17% 17% — V, 
7% 7% 7% 

5% 5V» Tk* —V* 

U%dl0W 11% - 

11 10% 11 
5% 4% 5% — % 

44% 44% 44% — ! % 

11% 11 I1W - 

4* 1 , 4V. i/flt — % 

16% 15% 16 *W* 

9% 8% 8% — % 

IE 35 13% 11% I3%— **fu 

16 425 25% 24% 25% ♦% 

STB MW 55% 56 - 

836 36 34 b 26 * W 

_ - 20« 18% 17% 17", —Vi 

14 - 7 17% 16% 16% - 

1100 23% 2B% 20'k * Vk 

2J -. 1279 16% 16% 16% - 

?J8 23'i. 2W 2 

14 W 14", 14% — b 

26% 25% 26 Vk <-% 

19 18% 18b — % 

93% d 50 V. 50 V. — W 

19% 18% 19V. - Vk 

6% 51k 6W +% 

12V, 12W 12% _ 

20% X 20V. ♦% 

XW IW »V. +% 

18% TBW 1BW — W* 

7% 6% 6% — % 

536 50Vj 50V. 50% — % 

78 29W MW Bh — % 

36 35V, 35% » W 

20% XW X". _ 

25W 24% 24% — % 

10b 9% 10W -rW 

3Vu 3% 3% — 'k 
25'., 24% 25% *% 
24% a% an — 


722 

903 

132 

211 


.9 18 

1.4 12 
_ 27 

3.6 

6 S _ 

- 27 896 

- 11 448 

.. 42 46® 
_. 27 2541 
5 72 32 

1J _ 163 
_. - 451 
19 9 - 

... 34 -- 

1.1 16 1651 

1.5 12 89 

._ 16 1834 
_ 25 .197 


5 M w 


_ IS X 46% 45b 46 — % 


1.0 26 2041 1*29% 7BV. 29% *W 
... - 1921 6% 5Y. 6% +% 

_. 19 785B 42W 41 W 42% — W 

^ 




Fit- " ' 


ft.sii|gss 



.Tib swsovbcp 






.05* J 


isw Jl'tjcsas. 

11% UaSpecTcn 
26bl3W5 P4»gei. " 
19% 10bScrV™2, 
11% 9%SldFiiicl 

26bl3%SWMto 

33b IBbSraKeu 


JO 1-3 


2 } poniTi 


M 3.7 


34 Wi, Staples s 
32V, 19 SWftop 

26W tawswTw 

43% 31 SlaStBo* 
22% 10 StOUKQS 
21%13WS1W*T<5 
23wia%SWnMn 
X%16 Sleri* 


.60 I- 9 




C‘4 13 SrrolCTn 
191k JbSfrugD 

jrwar/.sttviter 

42% lQbSumrnpF 
atk 19 Surrura 


2% j5 t SurntCro 


w MiiSurnttrc 

B#'»a*sg 

41% 31*»SunCrd 


^ftsasr 


4JP0 aun,~ 

44b l’WSvnRTs 
13% BVk StOstTC 

57 33% Sybase 1 


.. ™ - ..-svmeirtc 
33% 13% Synoptic 


,s % & 

? ,£? JP; 

. 660 13 b 

2325 ;•’% 

x 5181 16 i 

17 243 is* 1 
... 3181 o*" 

14 1733 ?V» 
12 2UJ 19% 
46 163 19% 
X 2947 34 
76 191.* a 1 : 

_ ?l» IS 
1?1.*333 37'* 
467 790 *4 » 

16 M3 14% 
33 730 IB', 
41 7 79 7*'i 
19 1430 W , 
|9 93 Z3’« 

67 5384 051", 
10 KJ5 It 
24 67j 35** 
. 101 18', 
J9 435 3P« 
14 66 If : 

...18041 Mb 
14)0452 J? 1 , 
I 10 1367 10', 
, 17 4?6 Mb 
X 1274 38 
163 14 ", 
. 33 2SQU45 

,29 10057 ulJ"-* 
, 41 0768 49“' 
75 897 IB 
..14507 16% 
, 27 716 12’ i 


5flV, SO’l —W 

ww 19% “!* 

7", «W "f* 
27’, 21 — ' 

IS -J »!• ••• 

|3‘ * J??* '■* 
»b t : *~ ;• 

IV*. 1S*9 — % 
Is IV', - '• 
j*, 6b *• 
yt s »’k — ’-u 
2?‘* 73' t -b 
IK’: 10'*. — 
a*..; 19'. • 1, 
33*. 13*> — 
74b 951k. • % . 


.00 


JB 

.tw 


07c 2 
.Mb <L0 


.04 


.11 Jl‘* * - •'*« 
U 14 

i?-1 -% 

S-*: 

33 ' , JY* *'i 
45b 53'*,'- 3 l 
4V-: 4*9 — ■•* 
J4‘ s 3" *•* 

IB IB'* — 
»*, Wa -W 
if. 1 .* 17b 
Jib Mb -2%- 
31*. •«, ‘i 

9*« It! 4 *'.4 
3fi 31V, - % 
»b ub — W- 
72', 17', — 
44', 45 • W 

13", IS * l’k 

i: 18 •*, 

15 ia*--»l*i 

12 II -"'4 


24% 6 , ':Svneor 
lift' 


Kb awsvneren 
53% 33 Synoows 
is lowsvsisnw 


9v, 'awsvstmd 
23% uv. System 


— fs HI B 
“ : xo s". 

60 ISM 441, 

» ' ? L 7 ^ V 

.. 24 62 Mb 


5 5'i 

43b 44 
Mb 1? 


13'.: 18% -W 


T-U-V 


295617WTCA 
33 17 TJIrfl 

2Mi 19% TNT Fri 
12W SWTFI&i 
irWllbTRFy. 
a% s Torocotj 
31% 15 TorpetT 
70 raTOthcim 

22W lSWTctlDBIl 
17’k lawTecnoiM 

S %4Q TecumB 
Vt 39’kTecumA 
16% 7% Telco 
32VklB%TcfQTlA 
is% awTeteon 
51 lBbTeflaM* 
24% EWTetulor 
18V. 7%T*ticon 


.44 

.72 

37 


JOB 

JOB 


i«Teva 

41% ij% 3Com i 
46W 9 300 Co 


Jl 

260 


. 17 A3I »'■ 

\i e m n 

’f! ”. 1536 
.. 14 749 lib 
„ 13 1658 8'.’, 
_ 44 37 31 

... _. 327 13* , 
19 1360 18", 
_ X »®»3 16 
1J7 ID 34 6B‘n 
1.6 10 1082 50' . 
... 35 2007 U 16 -r 
. 23644 23’k 
_ 10 IE4 5, 

“ 35 ^ Vi 
* 

ir. 
U4J, 
X", 
16% 


27 l^ATmReCs 
44 w 33V.Trnwek 
XV.2i%TrlPafvta 
X 3b Tricord 

{SS r?5K2S* 

70 H'OTrism 

ms 6% Tseng 

18%Tvson 


l .00 


14%10%L_- — 
39% liwunrastap 
b'Jj 4%Un0oO 
48 X UtdCosF 


28% 22 b US .. 
14% B'.iUSFad 
49 » US Mill 6 

46 23 US Root 

54V, 49 W US Tret 


23%I0WU«^ 


A 0 
1J» 
J4 
2.00 


.9 7$ I' 

._ -.16 
-. - 1234 
_ 79 .333 

* '] i i?S 

3 * W\ 

17 13 ^ 37' . 

~ f« EDM Hi 
-. M 3677 T5*k 
_ .. 144 3/p 

„ ... 23 15 

XI 14 573 6% 

J - 1748 34’. 
_ 37 487 10% 
... 38 145. Mb 

- 38 <93 38*. 
_ 64 373 S’. 

1J ‘ 


V. V. 
73b- 73'p 
17'. 17’: 
?4 IVi 
d 5b V» 
IT*'.. 14% 

d 7’* 

35’.: J' 

13 13% 

17’. l b 
1.1 16 
46’-, 4/ 
«■: 49 
IS’. I6 *p 
22b »%■ 
4l-j 4 1 
M’,46 "a- 
8*. 9% 
13'. 13% 

JP% 40", 
2?*, ?»*• 


-w 

— U 


»*» 

-i5 


-P. 


-hr 
*i * 


4P 


18’. Xb 
14% lib. 


5% 5> — : 


J 9 277 32% 
_ _. K 1 5% 
4J IB 4919 25 


75%10%L._ 

51 WXWUnitrin 
X 4%unuEIC 
31% IfbUrbnOut 
16% 9% VLSI 
22% ZHVarrech 

15% 4 VafUHA 
24W 13% VpluJet 
29 TB’kVttoas 
46 lSWVonlrKx 
24% KWVerltne 
20 lawvertKPh 
XV. 18 VKV 
21V, 13'f.Vieorp 
29 SWVictBn 
23 7W VidraL 
X ltbVlewlo 
31 Y, 19% VBeino s 
M% 10V.VISX 
23% 12 vmartt 


S3 20 


„ 19 4030 36V. 
3-8 II 74 52% 
_ 29 507 73b 
... 22 20? 23h 
3 A 22 12 47’’. 

- - 1126 7b 

1614 X", 
_ 15 3990 12% 
... <n 3% 
... - I a 4 b 

- - 1399 2P>« 

- . 4069 71 

„ 33 942 W-k 
_ 34 2045 73". 
... 445 14 
27 495 U'.t 

16 in ir". 

- 49 26"* 

10 664 9% 

.. ... 4140 71". 

- 34 1041 29V, 
_ 1355 6149 14 

._ 44 18 2IS. 


2S'',-2fV»— Pk 
17*1 13 *’k 

W 19' i — ". 
37 3.*% - W 

J9b 29*. -b 
S% 6 — W- 

14'., I5%-1 
3’. , 3% • b 
14b le% 
iW *■', 

73*b 23 i»— 

ID 10% _ 

10% lH’i — % 
37' , 38% — b 
4b 5W „ 
3i» , ar.i.— ’Vi* 

14 Ub -% 

24*«I4-\„— ",*■ 
IP., lib 
44% 45b 
X", 36". -IW 
52% tfh - b 
71 k, W» — b 

»’« aw *•.* 

46* , 46% —I < 
6% _6b -4% 
Xb 70W— 3 
ub i2w : ... 
3", 3% • % 
4 b 4'Vu ~«'u 
MW 20% — b 
•27b 27% . b 
31b 71% — b 
7l%97*‘ , e ' 


7i*»7l"'» — 

IJ 13 — 

24 1: 24% —1. 
14'-, 16% 

Mb >*, 
9", 9 "i — 
MU *b 
28' . 28% 

11% 13W • Jb 
X". XW — % 


Wt-X-Y-X 


48% 37 V, WO 40 
32’.k 17%WUR Fd 

aibiflbWdbro 

60 29%WoBDala 
31b IMfcWanBLot* 

ZffWil7%WFSL 
»V.17bWMSB _ __ „ 

124%97%WMSB_P«3A0a 6.7 
3BV, 12b Watsrrf'h ... X 439 

» 21 WWtoftstn i 32 .9 17 689 

35 21 %WtNttPs |4 1 J 15 S3! 


140 5.7 24 192 

J2 1-3 17 832 
- 40 ” 

9*2 

.84 4.6 B 1442 

;i u i Kro 


75W 18 WtetFn .57 2J 7 31 . 

S r 

33% 22% Warner .10 a i Ift.. 168. 
32% MMiWBslOne -72 X6 10 1014 
24*6 AbWtROt 5 - *» 1431 

14% U'AWesteried ,10c J — 40 


42V,. 

25V, 

ft 

13% 

IS'', 

K-* 

25 
2216 
<n - 

" 25V: 




_ 48 


.94 


20% 9%W»nPt> 

31 17 WctWan- 
I9W 12% WstptStv 
11% 5% WfhmOn 
37% 39 WnifeRvr 
25**ia%vywFds 

Xb 9WWh0MtV 
24% 12% WMcLU 
591ft 3P/,wfiSS 
X 11 wmsons 
XW 23b WUmTr 
B W 2iVu Winstar 
45 23MWi9CCT5 
28 12 Wondwre 

XW 16% Waring i 
3S%X%XRite 
K% 6%Xce<Net 
59b 29 XDInx 
TA'A llbXircom 
23*613 -JCMdttB 
XW ■S'AXvtoflfc 

14 b ZateCa . 

60% 23W Zebra . 

27% 13 Zen Lobs ... „ 

MwSvkzaoo „ - 1? 

45 V, 36 SanBep 1J0 11 .? 
43 6'ftZollMed 


99 
134 

„ IX 
„ ,. 2463 
- - 28 
„ 44 IW 

_ X 336 


.IS 


2J 72 1770 

- 53 1934 

1J8 4J 11 160 

_ - 7193 
.. 3 4 1JB 
_ 46 744 

1n*S 

- 813 

- » 4W5 

- 19 84|4 

Z S m 

Z 72 414 

- 38 3M7 


_ b 
14% 
13% 
13% 
XW 
14% 
10 
32'A 
16% 
Kb 
16 

48% 

33% 

2S% 

Pin 
43W 
Mb 
MW 
34% 
14% 
56 V. 
19 

21b 

ft 

Kb 

Ub 


4P; 42 *k - b 
24% 2JV, . % 
IP, 17% — s. 
33% 34b— 5b 
13' i 13% — '■» 
18 18% 

IE 1 , 18b * S 
89 09 _ 

Mb 36b 
a% 33%— IV, 
74* i 24V, — % 
Jib 23% — % 

.S*W87* 

.25 3S%. .. 

27% 27 V, — H 
13W 13% — % 
12b I2W 

13 13 

»b 29V, -Vi 
Ub 14b - % 
9b 9*6 — ’•* 
31 H Jib- Pk 
15% 14% — V; 
14b 14*6 —V, 
lS’k 15% -V-, 
47% 47% —*% 
Mb as, — 
25V, 25% — 

4Vlj 6>v»— *’-.■: 

43 43 - 

24 34t7. — ' i 

71 »i 22'. — % 
33', 33 W — 

14 14"r * 
54', 54% >1% 
17% 18% — b 
XV. M'-i 
36b 24*.« - '• 

13% 13*'<* 

35 V, 35V, — ", 


24% 34b jja 


_ 17 


27V* 29 
37% 3BW - 
11% II W —V* 


12 Month 
High Low Stock 


Dtv YM PE 100» High LonLoteaCh'ge 


27b KbCambnc 

25”. K CdnOcg 
12W 9WCOTRI3 
13b lOWCapRU 
78b 62 CarpPpt 
14W 0 Canngtn 
Kb 8'kCosneAs 
27WabCasFd 
12b B CattULt 

17 10* '.CavaiH s 
9'k 4',iContTcn 
a-k* "liCerUTcwr 
21"a 17bCntri*r n 

6 4bCFCoag 
49% 35b CenM at 

18 UbCenISe 
13’. 7 CtyCrn 

8% SbCnadA 
5", I'VwChDewA 
5% T'j.OiDeyB 
40’ . 16 ChnEn 
X' ,21%ChriMed 
lib ebCMPwr 
Mb 6 cnevSfl i 
18 12'iOllH 
M’.abOiflnl pf 
14"« B'-a QrcaPti 
lEb 3W Citadel 
8*. 4bC3TQlnc 
52, XbCJewCs 
3% v E ainto 
8’i 6 CaostO 

Jb lb Coon Urn 

10'. I 8’iCanefiStr 
8”. IV.ColData 
4 Col Lb 
10b 8%ColuEno 
19% II bComlnc 
7b 4'kCmdAW 
25 ’k ll'.Comptek 
ft. " u Cmptrc 
10b EWConcdF 
15b l?%CnSTom 
Ub JbContMtl 
9 SWCnvktE 
11% 9 Coploy 
3'. P.CerNGn 
IS 1 -'. 4 CCBncsh 
8b ibCOurrld 
lTblJbCrass 
24V. 14b CrnCP 
Xb 13 CrnCP fl 
21b 14%Cv»nCr 
5", 2bCrubArri 
27b X'« Crv5IOil 
a% 17* '< Cubic 
law UbCurtce 
412 VaCvcomm 


JO A 
38 

-40 .. 

.96 94 
1-68 !tu4 
5-00 7.9 


18 75 24b 25 —'A 

11 lib UW Ub + b 


144 aw aw aw _ 

42 10 d 9% 9b —Vi 
35 10b 10% 10V. -. 

*20 43 63 43 — t 


23 10W !Q% 10V. — w 


JOB A 


un li 
ill J 
3-50 9.5 

lASe 9 A 
J5I 4,1 
M 11 SJ 


10 14b 14% 14% 

9 24 J A 14% 24b -rb 

14 34 lib II lib *b 

11 26 I2b 12'ft 12b 

42 52 Bb BW Bb - b 

_ 60 lb lb lb 

_ x rev. isw Kb — w 
_ 407 5% 5 5b .. 

_ *350 37 37 37 +% 

4 17% 17% 17% ... 

_ 68 BW Bb 8W — 

24 14 8% 8 8 — b 

41 7B4 7b 2V„ SW, 

45 7)4 2Vu TV,; 3% *'b 

16 474 u40b X* a 40b ”b 
.. 2*47 26 25b 25' . -IV. 

12 19 15V, IS'i 15b - 

12 6515 10 % 9b 10% -b 
_ 55 12b d 12b 12b — b 

_ 4i awoav, a% — b 

31 655 16 15b 15b — W 

.. 66 3b 3b 3b - 

23 81 BW 7b 7b — V, 

53 1M 47b 4*V, 47b — b 


10 


.94 r 10J 
■40 b 6A 


755 V B 
X 7W 
B 2b 
_ 13 9 

5814583 u9b 
20* 


fri 


7 ' 7 V ’ -b 

BVk I'' - 

8. 9%-lW 

. - 4b 4% -"u 

2 9b 91k 9% _ 

68 79% 19% 19% ... 

96 6% d 6 6% +■ b 

19 14b 14 14b — % 


20 9b 9% 9b 


J3 14 
JBe XB 
M ao 


8 39 u 14 

a 51 5*4 

41 25 10b 

3 2V,. 
_ 40 10% 

2 7b 
32 XI 16b 


13b .. 

5». 5b - 
10 % 10 b ». 

2Vi* r.i . — ’in 

7% 7b — b 
]6 16b — b 


S3 M 
•401 .. 


35 137 17b 17b 17b ... 

16 3 16b 16W 16% —Ik 

14 54 ISb ISW 15W — W 

I »UZ7*2 ^b'-lW 

127 4 19 18% if 

If 13 IB*. 18b 18% -V, 

- 320 21% 2V. 2Vi, — b 


D-E-F 


UblO’.kBCAIQ 
14b lDV.Bin.IQ 


74% I0WBNJIQ 
14". lO'-.BNYIQ 
46*. X’k BfolrCu 
35'. 21 1 .Blessing 
45'. 17’.kfllounlA 
K>ii3WBocur« 
TMi K’.BowfA 
5b P-jBowmr 

X*., lIv,Bowne 
17% 9"]flrandn 
5V: lWBranayw 
IS'* fWBrjsnq 
3 J -> Xu Brack Co 

Tk. P.* Bullion 


1.05 

10 J „ 99 

10!k 

10 


39b7PAFlt3rwi 


_ 5 

.790 7.7 _ 7] 

TO'., 

10'., 

lO'.i -w 

79V,f7'ArnW 

LOO 

SJ 23 








73 _ IT 

11 

104. 


11 9 FAusPr 


9 A -. 


7.7 .. 3 

ID'. 

ID". 

io'i 

7b S'.kFTCnM 

.10 



40b 

39W 40"'. —'A 

12W 10 FstGtv 

JO 

1.7 It 

.70 

2.) 14 1 

Xb 

32W 32b — W 

165 lai'^tErrw 

L40 

1* JS 


IJ 19 52 

43W 

43 

43 — ", 

16 13V, FtFAJa 

J2 

5.0 12 

1 J4 

8-7 19 7 






_ _ 



17’, 

I7"k 


MW IfiT.FIaPUt 

1.16 

4J 14 


_ IS as 

3 

3*. 

2b — W 

MW 23V. FlaRek 

JO 

IJ 17 

-36 

U 7 606 

16% 

14b 

16b ~W 

32 aw FluKc 

J6 

1.9 27 

JS 

i.a is is 

lf 

15b 

I57u — 'k 





4 

a 

4 *"u 

42wn FordCA 

JOc 

A - 

1.04 

7.1 46 74 

14% 

14U 

14% tU 

52 W 38'AForilLb 


- 24 


- 20 I 

2% 

2W 

3W — '/» 

1% KuFortPtwt 



— 

,. 4 11 

I'Vi, 

l"'l| 

I’Vi, — % 

3'Vr, lb Fori Pel 
3Vi, IbForumR 


~ - 


A4CU J _ 


MWir.CFXC*, ,92b 
7% 4",OI Fm 
0b 7bOM 
9*. 41, CM I Cp 
3b 'Vi.CSTEnf 
KbU'.CVBFfl 
1*» »--',CXR 
72 39 Cablvsn 

3’p 3 CObonin 
31 31 CagioAs 

3", l'-.CaCan 
K% 12% Cambr n 
7’-a P.ComO wfA 


J2b SJ 


JO .7 


13 

16 

14% 

I6W 

16V, ■ 

—Vi 

7 

35 

5b 

s 

5b 

ft T; 4 

„ 

14 

7% 

7V, 

7W 

Hi* 

7 

re 

7W 

7 

7% 

-'St 



13 

IV* 

lv.u 

.1*1, 

mm. 

11 

15 

14'ft 

14 V, 

14<A 


_ 

3*5 

b 

% 

%— Vu 


419 

99% 

58% . 

St - 

-w 



IX 

Xu 

3V.. 

Mu • 

-■k. 


12 

x% 

X% ; 

79W 

‘■Vk 

7 

305 

ib i 

a P.k 

iw — 


556 

15% 

15% 

15% - 

-'A 

- 

X 

7W. 

Xu 

2 I'm - 



lb V.Dl Ind 
4«k ZbDRCA 
3b lbDafcOfaM 

2 b Da«.oT vn 

9% 6 Dart Ha 
5% 7b Data mt 
10% AWDataram 
7b 2'ViiDnvslr 
Bb SbDaxar 
12b PADecnrat 

8*. swoetEle 

ftftBESl 

3W Wi.Dld'can 
9% WaDtgltCT 
12b 10 CIMAC 
I9T, 9b Dimarks 
10 AHDIoaes 
8b IvDIwCom 
10b 6 DtwVUc 

Mb 14'kDontMlv 
IO", 7bDryCnl 

liv. SbDryfMu 
lib 8bDrVlNY 
Sb 2bDueom 
11>. BbDupleK 
4 3WDvCom n 
2% lb ECI int 


_ 73 

_ _ 48 

18 

Z 36 47 

= * % 

„ - 186 


J4 2.2 8 2 

A3 1 6-3 16 141 
.12 A 25 1405 
_ 14 X 
- 254 

-. 24 ll£ 

~ 29 1056 
11 48 

_ 6 
X 3 
J2 1.8 31 13 

-54 70 67 

.69d LI 137 
60 6J m. K 

_ 9 12 


1 'Vl. J 
2b 2% 2b —V. 
2W 2% 2b — W 
b 1"» *lfu 
Bb 7b B — w 
4b 4b 4Tk 
5 4% 5 _ 

TV', 3Ji. 3d-r* — W, 

if" if* iP “’2 

6% 6b 6% - b 
21b 21 21% —v. 

4 V, 4W 4% 
lb lb lb *»«, 
3% 3 3% *% 

lib 11% ll'i _. 
15% 14 15t/. , V, 

P'l Sb »"• 

Pk IW, 1% »W 
8b 8W 8b ‘b 
i7b ir< lib r’« 
aw b a — % 
Bb ab BW 


?. ajk av. — w 

4b 4W 4b ‘"p 


4% I'VTiEZ Sery 
48",a'.-.EcnBF« 


15% JbEcnoBov 
15V* fbEcolEn 
i ibEtasrowt 
tow SbEdsta 
SW I % Edltetr 
47*A M Vk Elan 


1.75 4J 
317 s 
M9 Z9 


IWi 


36V, XV, I 

IS'/, WEWWd 
Bb 3’aEhinor 
91, 0%Elsw17i 
6W 5bErnpCar 
19% UbENSCQ i 
lib 7bEnzoBi 
24% 13V. Ecu tape 
12% BViEoGfM 
12'k 8bEdCth3 
16% IPiEquuSlI 
PA PkEscaon 
15% J3bEsoev 
13'/. 5'-a EfzLv A 
16b 6bEKLOV 
I 'Vi, bEvrJenn 
XV. 14 EtCBl 
4V, 3V.FFP _ 
36b 30b Fat) tods 
14% 6VkFaleCbl 


.08 e A 
61 e 73 


160 186 
160 186 
68e 5J 


60 43 
Me 4.1 
Jfle 3J 


36 26 
J»> 1.7 
64 2.1 


~ 218 

If 889 
04 7143 
9 10* 

- 52 

6 49 

._ 139 
29 1044 
_ 125 

18 46 

:: -H 

>. 72 

72 2490 
... 1310 
_ 1124 

- 32 

A3 26 
_ 24 

.. 66 
10 22 
8 38 

10 11 
_ 300 

11 319 

28 52 

12 22 


41 


5 

XI 


9% 9% 9% 

4Yit 4% AV/. +'/ u 
«. IV., 1V„ — 
lb„ l'V„ l*Vi, — »% 
40W 40 40b — b 

13% 13 13b 

10b 10 10% — *k 

lWdP.. tb 

5% K 5Tk 

4?.' L v '* 

38% B ,i 38 *'.k 

a% aw a!k *4. 

29% 29% 29% — % 
10% 9b 9b — *■] 
IW 2Jk Tin - 
8b 8b 8b -. 
6W 5 6% -W 

14Vk 13% 13W — % 
14 13% 13b —V, 

19V. TBW 18W — W 
8b BW Bb ^ 
8b d aw aw — w 
13W 13 13 — % 

2 I'Vi. 2 -V u 
14% 14 J4 
7 6b 6>i — Vl 
Bb B% BY. 

% % b _ 

14b 14% Kb -% 
4*k 4b 4*Vi. elk* 

»% nb xw — % 

76'A 76% 74V. _ 

10b lob low - 

y>vi, 9«i, ■ 


7 .4% 7 *W 

11 % 11 % 11 % — % 


4b I'.iFounPw i 
Bb 5%FrtAOvn 65 106 
9Vi BWFmkin 
fb 4WFritREn 
5b 3 FritSeln 
5% ibFfkSyon 
BW SWFreqEl 
9 SViFrewrtus 


SO 105 
60 10.0 


lSbUbFritcns J4b 2.0 18 


ta 
iw 

5 
1 

19 
47 
62 

_ 11 
30 298 


44 


150'A 150W1S0W _ 

14b Mb i4b — b 
7% 7b 7b — % 
17 17 17 -% 

Mb 26W 36b - 

SOW 29% X * b 
11% Ub 11b _ 

32'.k d30W 31W— IW 
48b 47% 47 W —As 
UlW 1 Vi. IW »*A 
Tk, 3% 3% * % 
2W 2W 2'f. -J/u 
5T. Sb SW — % 

6 6 6 1**41 

BVt aw aw ■*% 

44i 4b 4b _ 
4 31'. 4 

2»u 2W 2Vk _ 
3W 3Jk JW tVi. 
7% 7% 7% - 

12b 12*A ir-4 —Vi 


12 Month 
High Low 510C*. 


SIS 


Div Yld PE 100s Kgh LnwLaliglOi'ge 


60 a 4.4 


J25e 3.4 


33b IS'.k Goran 
9% 2'.kGaylCn 
81* 11. GovIC Ml 
15% 7b Gel ms s 
UVi* %GnAuto 

8 IbGnErnp 
10% 7''.GnMicr 

Vr Vu Gertsen 
I3?'« 9%GenvDr 
MbirkGiantFa 

9 6*.GnDsnCR 
19b 12V.GlcWotr 
19b UbGiatflt 

4% TWGlblOcn 
17b UWGtotoSml 
17 7WGtobRrt> 

3’. r- Go Video _ 

6% SWGoldcaAn .10* _. 
IP'. BbGtoSlarR _ 

b bGldFld _ 

13 Sb&rJwSom 
30 I2bGorR|X>p 
14% lOWGrafiam 
3b lbGrangg 
7W 5 Grenm 
7 Iv.GrnToin 
15b lbGrpvLno 
33% 17 GrSunec 
3 J'« 

4-.-U 


!,]?! 


IbGlStat 


r-. T?uGuiTu) 
lib 4 W Gun die 
Bb S'lHMG Dgt 
2 bHMGwTA 
lb 'WHAAGwtB 


13b 44.HMG 
9 6%HaJEP 
3% IWHatoJiy 

7W|, TV, Halsey 
7% 5bHammi 
r.k 3%HanaOr 
71. 3Vt,HanvOIr 

an 

5 3%H0rtvn 
14*4 6W Harold 
M’-.av.HasOro 
4% 2bHlthCh 
19W 1 1 Vi HlttlMor 5 
IV, WHINfta 
3W WHlthArn 
I4*y 9'kHeico 
8 3bHelnWr 
7", I ".-i, Hrtleawt 



.15 1.5 

.Xt 5.8 
JOT 1.5 


J0O _ 


v.nelmR s 
’» '4HOIBW 
lift BVaHemlog 
24% 15 HrtaMo 
5b 3bHBnrTct, _ 

IS". 12, Htohlncn )J» 17J 
33bZ3%HoltvCn “ ‘ 

l*W ll ".HmeQll 
22 5b Hondo 

14% 7%Hooom JO 
3% 'V.iHousBio 
lb WHouBwl 
1BW 6 HavnEn 
Mb 6 HOWTEK 


60 16 


& 
2% 
5W 

6W 
IW 

9'k 
... 4% 

7V„ jp/ m 

2WA. T'W 
5% 5% 

3Vk 3'A 

4Vu d3b 
II 10% 
31 W 31% , 
IW 2% 
13% IS’.k 
"k| W 
1V„ I’k. 
10 10 

5 5 
2W 2 

■\S "it 

UJk 11 
24b 23% : 
4W 4 
)2b 12'A 

»■* a> : 

14% 14% 
ISW IS 
7% 7W 

'W. Ub 

ft w 

6 ass. 

9 9 


12 Month 
High Low Stock 


9s 


Div YM P6 1005 Kph Low Latest Qrpe 


Jin 73 


35 4J 


72m 2.1 
64 16 


30 13 


12b 8 K5I 
4Si, Zbldemiy 

"vk^bUSto 0 

}}% 

T'A blnftxs 
14’k JWlnstron 
25% fwintwem 

Tb* K::S!» 

I6*.k 14 UiRn&tf 
7% 2 inrerDio 
XW f'Alntrmans 
5. v.InFnCiM wl 


L-J6C-L 


6Vk "A.lnFnY avt 

— ' “ ' n(Jv 


7!k 2W InFnOY wt 
6’k 6 InFnYBwt 
13W 67k tntLotry 
Si Vi.intNlQvie 
T-. 4%intMur 
4'k 2 tntPwr 
7Tk 3biRlS_ 

9V. SblntEtGC 
2% Wmtrsystm 
Tk Vu Intrey WT 
KbiibintPiYg 


: 

1.80a _ 26 1652 
._ _ 56 

_ _ 115 
- - 116 
X 14 

.120 1.0 22 12 
_ _ 1832 
_ _ 7 

_ _ X 

70 46 B 17 

1ZX 
407 
122 
35 
40 
102 
57 
100 
54 
40 
45 
Ufl 
X 
9 
30 


— 141 


05 e 


._ 6 
_ 12 
- 72 
A 11 
_ 75 


71b 1016 
3% 3% 

34% 33% 
7 V. 3 
7W 7H 
9% fb 
*-, % 
11 % 11 % 
15b MS. 

7Vu 2Vi. 

Is. 15% 
14% MVk 

f* f* 

3b 3% 
2.. 15b 
7W 7b 
b v, 
4'Vu 4% 


lib -W 
3Vi. _ 
34. — b 
2W 

7b — % 
9b — W 
b - 
Ub 

14% -. 

2'A — 'ft 


.126 - 14 


38W14bt - — 
IS’.. fbJodyn 
12W 6% Jaiaten 
13b AWJatteil 
s*.-,, bJetrwie 
13 BbJonefnt 
61 Vi 37 b JupNat 
11 W 6'ftKVPhB 
11V, 4'ftKVPhA 
5b 4Vi, KaufHW 
27V* 131ft Keanes 
Kb SWKefyCXS 
15% lOWKetemo 
6W 4% KeyEng 
4b JblGnonc 
XWlSWKirbv 


06 

SO 


- — io 


3 16 2899 
5.1 17 3 


48 

419 

3 

64 

if 

ire 

3 

85 

2M 

17 

X 

65 


J?W gWKrtftf^ 


.. 24 339 


ii% r-rGatosca jud s 13 m 
IB’A 12 GaixCbt 1069c _. _ 22 

7b 3"kGamaB .10 Z1 IB 158 


b% aw aw — w 

Kb 18 18 — W 

4b 4% 4% -"W 


I0W iWKoorg., 

3 Si ZWKopEawl 
4 1 LKRBign 

2b I . Laflarg 
22%13'ALonw 
17 13W Landaur M 

9’A 5 Laser 
7V, 2»ft,LsrTMi 
2 v„LsrTc Mt 
7W d'.’i. LeatflFoC 
3W 'VuLeePhr 
9*. 3bUBEurwt 
SI 39 LehAMGNtiM 
25 , -'» M LehCTel n 
19%16MLcnMUll 160 
X 28WLehORCL2JI 
5b 4bLoHK94wt 
13 TJVi,LeJY 95wt 
BW 2bLeJY9ewt 
22b 16WUI Vent 
27% IWLUfldAd 
Mb 9 Lumev 
I5W 0b Luna 
32% 22 LvnchC 


_ 10 
„ 14 
5J 17 


3V5 3b 
6'.i 6’k 

?w rs 

14ji 16*k 
MW 19b 
2% 9% 
9 8% 

5% 5b 
% b 
JDb 10b 
45% 45 
JW 7 

4b 4b 

20% Mb 
Sb 05W 

14 Ub 
4% 4Si 
Tb 3b 
10% 15% 
l|W 15b 

lb 


3b +W, 

kw -% 

,*to 

1 -Vu 

2b _ 
6 — % 
7b -Vi 

% — i/u 

4% — b 
3b— Vu 
6v* - b 
8 -% 
IW 

Yr, ... 
lib +b 


Xb ‘V. 

9% — % 


3ft -ft 
b 
low 

45)3 — W 
7b +% 
J -V. 
4b — b 
10% rb 
5% —Vi 
13W - 
tli 

3b — W 


iji P 

lb lb. 


1IW — s 

Tz! 


j 2 ® 

10 IX 
40 18 


lift 

% 

5% 
SVl 


17 

17 

"h 

5b 


5.9 -. 


M 


16 12 
... 43 
.- 16 
„ 9 

- II 


4’k, 


‘Vl. 


$ 

3% 3?I 

ifflb 50% 
24b 24 Vk 
Ifb 1B% 
37% XW 
4% a «% 
l'vw ib 
2'Wi* a 2% 
17b 17b 
4W 6 
12V, 1J% 
7'.i 6% 

32 32 


2'k — v» 

Vis ' 7 - 

17 “5 

17 +W 
SWi, + V, 
5b +b 
5b -r ", 
4 — Vu 

42 * ly _“ 

3*i — W 
MW — % 
24% _ 

18% _ 

37 

4". — *. 
l'V„ -V» 
21 Vl, — b 
17% — W 
6% ‘ W 
12". — b 
7iA *■% 
32 * b 


4% 2%/lAC Sho - 57 n525 4'W Tv u 

SV. '"..MlPPr - -. 65 2'k JVu 

1"U VMSR .. 4 U7 % ry,; 

15b lOWMoeNSc 64 56 14 256 11% || 

b 'k.MogP»ytwi -. ... I70u''.'u %* 

11 5 Mamw .. M 1666 10 10 


1b I *w Meritor 
isvp lawMtnsHE 

4b 3bMOMC 
44W XW Mwxam 
10% 4WMcF!oe A 
10W SWAAcRoe B 
16W lOWMedcR 
Ub ibMeaevo 
3lb21bMedla 
6% lkuAflediaLoa 
2>"'i, lV„M«dRA 
2*k, kuMdcore 
4% 3". Media 
Pk 4WMkdQst 
7b 2%MentIHll 
irv. 14V* MrchGo 
7 3'k.MercAlr _ 

2b IV»MerPt4 
1% bMerPTi 

72m 43 

10% 5 MLUSTwl 
5% %MLDM pwt 
17%12'ftMeiPro J5e 1 S 
Z6b iSbMetrflcsn 72 19 
l|%10bMetrt* 60 3-8 

9V] 4bMotAnl _ 

XJkl6%M«dABc 60a 36 
18b BWMWamiv JB4 9 J 
4% ZbMnllDy 
47W34 Micflnd JB 
7W iWMBwLnd 
15% lO’AMrnnMul A3 
104 BBbMlnP pfB 7J6 
14 9WMaog§ 

18 10%MMed _ 

2 IVuMcypnF _ 

3W 'Vi.MSJr pwt 
7 3%MSj96wt „ 

5f. SJV^TMXnlTB 4J 
IlblSbMSKSTn 1J23 66 
3W 1 MovleStr _ 

11W BbMUrtln -55 6J 
it. 7%AAgnvst_ 66 


.. V 


JW, 


1b 1V U I _ 

10b low ?o% 

4% 4b 4% _'k 
33W Kb — b 
8b 8V, 8W _ 
?_ v:% r\ -b 


13 


_ 170 11% UW Ub — V» 

15 303 10b 10b 10W _ 

15 663 19. 78% 29 »b 

_ v ik n 2%, ._ 

21 S3 t’k, lVu IVi. *% 

47 314 U2*U|| 2% 2'V., ‘ Vu 

329 4 TVi, 4 ‘b 

94 7% 6b 7% _ 

- 3 2% 2% 2% _ 

23 18 15% 147ft 14% — % 

6 31 4'ft 5W 6 _ 

_ 41 IW lb IW ♦%* 

- 44 iriS - 

= f| 

I 100 

14 


11 


U 


7J 


■*n. ■»!, — 

2% TVu — ' 'ft. 
ft ft - 
2Uft. 2’V!, * Vu 
, . 5% 5V. ♦ % 

10% low io", “b 

% b b ■*% 

1 16W 16b 14b —"ft 

385 25 Xb 25 * % 

13 15b 15% 15% +b 

10 ,4% 6% 6b *b 

44 17% 17b 17b * ' . 

a 9 9 9 *■% 

a 4iv„ 4b 4W— J/u 

,2 40 40 40 

12 7 6b 7 -'A 

136 lib 11 lib _ 


12 Month 
High Low Stock 


9> 12 . 

Div Yld PE 100s HWi LowLotestOi-ge Utah Low Sock 


75 164 12% isb 12b 
13 54 14% 14W 14b — b 

- 2 1% lb lb— V.* 

137 IW, 1 IVi* “Vu 


15 10%4 

19% 15bMW1n 1 .16 

II fVuNTNCom 
ll'A 5WNVR 
5% lWMVRwt 
BJk SbNotwrs 
7% ZbNontck 


76 


76 


.9 


« 3% d 3b 3b — % 

- 73 61b 60% 61b -Vk 

- 24 1B% Kb 18b —Vi 

- 34 IVk Pk 1'k— V, 

_ TO ay, 8b Bb _ 

_ 584 7% 7% 7% _ 

- tS UW 1IW _ 

_ 7 iiw 11 11 — % 

16 416 17W 17 17'A — %. 

7W 7VJ TV, * % 


»%abNHnc 
5% 2%NtPmrt 


_ 12a 
i 8 _ 

17 2785 6% 

- 12 6W 

15 2 X 

_ 235 7b 


aw 14% 

12% 9% 
WW21WNY ... 
ll'A 3b Iftorex 


Sfi®r 53 

NY Tim J4 


JOb 4J 
LB 




11% 7b7 

'iS’KiMsr 

15b 9%NCAPt2 
IS 10WNFCPI 
13 % ioWnGapi 
] 4b TO NMOPI2 

14% lflbNVMIPa 
MUIOWNAIVOPI 

)4%10%NNLIPD 
13% lObNNYAAl 
15% 1 IVkNyOHPI 
M%10’ANPAPI3 
UWUbNvTXPI 
14% 10W NVAPI2 
MJk lObNuuWA 


JBd 7J 
690 7-0 
.75 73 

74 7-0 

68 66 
.74 7.1 
•TO M 
.73 7J 
72 67 
78 6.9 

74 73 
63a 73 
68 *J 
.78 7J 


5% — W 

'ft ift^- 

6b 6b tk 
X X — Vk 

« tto *15 *«• 

? n iSS 10b 18% —"3 

- 14 9W 9b 9b _ 

12 1023 22W 22 22', +b 

6 .11 »'4 9b 9% _ 

- 268 Ilk 11% 11% — % 

_ 14 low 10% 10% _ 

IB% 18% IBb -'A 

5% 5 "ft 5V. +b 

6 5% 6 — V* 

186 lOV, 10b 10% *■% 

9% 9% 9b _ 

_ 10% 10% 10% — w 

93 10% 1D% toy. * y. 

§1 MW 10 10% -r'.k 

63 10%d 10% 18% — M 

X 11 10% 10% _ 

108 10% 010 10% —Si 


IS 
X 745 
40 25 


z E 




16 11 

g iob iob 10b — b 

58 ub 11 W IIW — % 

41 II 10b 10% — % 

12 10b 10% 10% _. 


P-P-g-R 


14% 7bOQkto _ _ 26 

10% BWOMIvrtC JB 2.9 15 47 

9W 6%OCGtatB . _ _ S 

36 21 QhArt 54a 7 214 2 

38% 25% - 


h Olden 


17b T6’k OneLbpt 160 97 _ 

V|*On*lieE rt 


3% Vi* Brail 

32% MbStjentSs .15 5 J 

J2W 6 OrtoHB JO 93 9 
7b 3ViPLC5ys - - 

17b 17% PMC .94 66 14 
16 Vi 147ft PS0P 160 106 13 


21 
29 

i.9 ZzAoao 
L3 _ 10 

L4 _. 

86 „ 

— L5 _ 

J5 0.3 
1-20 L5 _ 
HtailtjrwDMr 1.12 86 — ■ 

27%X%PGEPfM 1.W L3 - 


64b 40% 

B%I7*A 
20% 15% 

19% 14% 

)f% Mb 

19b 14% 

19W 13%PGEB*G 
17W12y,PGEpflH 



4% 3 PageAm 
11% 4 PWHKWt 

& iw^ssit 

9% 9 PWSPMld 
3b IWPWUSJwt 
0b S'.kWDYnwt 
4% WPWUSDWt 
MblObPWPI 
40 XWPOrtcNs 
MWUWPorPtd 
15% T2 FarPf2 
16% Mb ParPQ 
Sb 2WPgyFbn 
24%13WP00GW 
44b 34. FetinTr 
x%2ibPetiRE 
13% 9%PorintC 



8V, * PresRB 
Tk, Tk.ProsaA 
57 »3'Vi. PrcCorp 
3% IWPrsmEnT 
13'-i 0SiPrlBa> 
7", 5"*ProDCT 
Xb MbPrvEna 
17V, MWPD5I7 
19W 151. PbStf 
IB* . IS'TPbS, 11 
10": IS'iFBSrU 
17". 13* iPtoStlS 
IStk I7^«PbSll» 
16% llWPbStl/ 
16b 1 2 PbStIB 
12W 9 PbStlf- 
15 lT'ftFbSRO 
I5»i lObPuotCA 
MbllbPIGIM 
IS 10"*PIGMT3n 
ISW 72 PulNY 
15% 2%QualPd 
7 V. 4'VuRBW 
IIS. WRXMdS 
14'k BbRrtlFns 
4% IWRodEagl 
79 Z3%R«S_n 
4. 2%R«0ai» 

,3b ".Rfllw wte 
14b SbRedEmp 
U% SJkRefac 
lSWlObReialBS 
5 Vi 2 b Roll v 
4 W 2. RcoGtag 
14 9WRsrtln 
2. bRstini 
sb 3>.Red7d 
3". l",RspTOt 
7b 4HBevMn 
T’u 1 WRicnian 

17% 11% Riget a 
9% 6". Riser 
„5% 29',, Roaknst 

5W 3%RoyalOO 
2 bRvmoc 


60 7J 14 8 

_ _ 565 

_ X* 
_ 19 14 

_ 14 10 

-36 5.9 M 110 
.08 64 18 17 

.17 6.6 13 25 

J4 87 10 4 

-3* 86) 12 19 

J6 L4 11 11 

.08 67 13 2 

09 7J 13 54 

J04 0.9 17 31 

1.00 66 16 24 

.44 43 32 5 

JO 6.0 15 3 

■93a 7J_55 
■69 a 6.0 „ 237 

61 U - 25 

.93a 73 - . 3 
3>5e 2.1 _ 269 

_ ?<fi 80 

_ _ 230 
_ 12 11 

- X 35 

LX 9J 32 18 

_ 230 
_ 250 
.140 1 A 7 16 

J0e U II if 
J2 2J 15 27 

.01 e j x a 

_ _ XI 
I JO 10J b too 
_ _ 134 
_ _ 61 
_ 92 

_ _ S3 
_ 16 83 

17 7 

„ 40 70 

13 158B 
-72 14 

. i n 

- 14 5014 

04 b 4-4 _ } 


8 % 

*9u 


8% Bb - 

d b Jl Jg 


5b 


1«W 1'Vu +% 
11 % 11 % — W 
6 6%. 
16b 16% _ 

16b 1 % +'A 
18 1 - 
lib 1 +b 
16% 14% — W 
16% 16% _ 
14 M _ 
15- 15 — % 

MW Mb _ 
10b 1 Vi *■% 
13% 1 '* _ 

12% 13, ~ 

11% 1 W — W 
IOW 1 W _ 
12b 12b _ 


Ky YM re IQBs Htofi LowLfltestOt'qe 


Tl% 7 ThirnPw 
mb 7%ThrmP „ - 

law 


25^} 



3Vu 3% +Vi 1 
^ 


4Vl* 4% - 

■%* It’S 


5rT 


_ 7 

- 34 
L10 5.9 10 

_ 15 

Xb 1.1 x 

- a 


J7T1A0 


7 4 4 SC Ben 

52% i'.SFM 
42W3JV, SJW 
«w. lb SOI ind 
24%12W5Pl Pn 
20S.11 SagoCOm 
16b 4WSanGams 
T*fc WSahaGpf 

. 'ftiSalnrwt _ „ 

16 A 12 Salem s .40 25 16 
XW 41 SalAMGN rfl.18 6.0 „ 
39'A 231', SalDEC 2-53 7J _ 
84 HViSaMWPn 401 4 A — 

17b ibSalHK W196 _ _ 

H. j6Si SalMSFT nlW 43 - 
M% 7BV. "rtOHa U0 6J _. 
49b 34 SalPRIn 34)2 LI _ 
29V.T* SalSNPLn2.12 11.6 _ 
4’k, JbsatPn® _ 

13b BWSamsan 1.00a LB IB 
15% PbSnooDlA un p _ 
13% 10 SD^optC 38 Li_ 
W.BSWSOooPrG 721 li . 


M 4% 4% 4b — b 

93 46% 44b 46 *-% 

, 8 35b 35W 35V, — W 

149 f*SS-% 

1 ’SS 

!ft W — Vk 
13* 14* +V “ 



MWaiWSDaoptH 1J3 8.0 _ 


426 

X 

J 

15 

2 

clX 


83% 84 _ 

7 7 — b 

93 92% — U 

37 37% • % 

_ 37 37% —JU. 

IBb 17V4 181ft -+1 


11b IMS Tift — W 


RE liff ”# 


.16 L2 10 


_ IB 


.16 


- 15 


_ 19 


3)6 


J 10 
- 5 

JO 164) ... 


_ 6 


JS 12 _ 310 
92 23 IS 77 
UX) 77 13 
UU 7A 12 
IX BJ 12 

5t» 500- 

1JB 8-5 8 


4W iVuPJjmiJ-as 


9'4 9'A 9'4 _. 

jb iv, * tw, — iw 
SW, d 5 SW — Wg 
..*1 b % _ 

low 1 oh rev, „ 

40 X% 40 

4 13 13 13 

32 13% 13% 13% _b 

4 IS IS 15 

3 4b 4b 4b — % 
l£ft 15 IS -W 

. 43% 43V. 43W *% 

56 22W 21% 229t - 

37 10% 10% 10% _ 

-4 23H M'A Mb - 


8W 3V:^_ 

XbS’ftPnnxRs 
5 PAPwoPd 
lb 6%PtiWVa 
XW24WPit05Tn 

40b 27 Ptttway 
38H24bPWwyA 
9Vk SbPtnRSC 
25bl4bPtvG«n 
10% SbPtVHA 
10W SbPtyRB 





IX 

IW 

1 

1*1, *i’u 




181 


3 

3V* -Vi, 

JO 

A 12 

161 

31 W 

31 

31V. —ift 


15 

47 

3'A 

3 

3 — W 

J4 

7J 13 

1 

7W 

7W 

7", — % 

.90 

3.0 12 

23 

XW 

Xb 

29% t-W 

AO 

1.1 13 

2 

» 

37 

37 _ 

JO 

1A 13 

45 

XW 

36 

36". — b 



183 

0W 

A'*i 

4% —to 

,12 

J M 

IX 

23. 

zz% ab — w 


_ 7 

1 

9V* 

9W 

9 Vi _ 


- 7 


4 “Vu 
2% -■/» 

lift z 

T-W. *W 


_ 9 


20b Mb Pratun 
Xu ib,Prws.o 
b WPrpd.wr . _ — - 

31}* 21 PtBdLnl 2.40 83 — 


9b _ 

*•' - -=*- — 42% 

_ 43 207 «k S S*A —n. 

” „ 4S5 ,5% Sb Sb — b 
g 10 III « 19b 19b 19b 

- - 2% TW TW— J'u 

'Vu IVu 'Vu _ 

XXX 


40b29bPolSlnd 2-S7 5-* 13 2J 43,1 * 
7b MkPolvph 
12b 5W PortSys 


9b 4% Sandy 
f<H4 4bSMonflk 
JW WScandC 
11b 7% SCOPtre 
4b JWSchei) 
ir.12bGchult 
6W 3 SemPcy 
l*u "JuSamPk wl 
3% IbSemtcn 
8% r-jSercnpot 
9b 4'AServico 
9T-* 3b5tWfldMd 
leb BbsmtCms 
8> 5%SnwdGo 

3 &sr 

7*6 3*ySaniTech 
7'. 3’ilf.Fdsn 
X", 4 -n Simula 

12b 3'-,SloonSuo _ ... 

39'..24bSnnlhAOA 44 T.7 ID 
40 awsmitnAO J2 LI 10 
”b 9'eSmtBln 00 o 0 A _ 
15« 13 SmlBmM J5a 6 A - 
.2 Satinet 
IB UWSCEdPtC 1.06 
17", 12'<i SCEfl pfD 1.08 
19%13".SCEdPtE 1.19 
23'-'. l0V,sCEdpfG IAS 
IMbKbSCEdpfK 7J8 
24'.-i2l SCEdpfP 1J4 
23%16"*SoUCos .fit 5A 30 
,7b 3’-* SwnLJte _ _ 

m, M*'.sv»nLiear i.7s in „ 

* • - - _ 7 


175 


JOtS ID'A 10’ft — Tft 
32% ‘xb an — w 

P P r 

IVu 1 Vu _ 
Bb Bb — % 
4% 4b _ 
14 14 —<k 

4% 5 

lb PA — W. 

», Wl, — Vu 

Tk 5W — b 
9W 9% — % 
4% 4% —'4 
12 % 12 % *% 
6 6b — % 

fS f -w 

,r -5 

j 2JIA 25U 
22 B’A 25 25 — % 

9% 9% 9% _ 

13 dlTVi 12% — % 


7b 

8b 

Tft 

ii* 

k 

avu 

Pk 

9% 

12% 

fib 

IW 


5V, 


163 


~ 7 7 


L7 _ 
L8 - 
L3 _ 
BJ _ 
Lf _. 
L6 .. 


7 _ 


6W 3".-SwsrtCh 
13'. kScedVTs 
5", 2'k SdtSufl wt 
9b BWSporTsCn 

jbfrfssi 

JS'i-ftfESTn 

’> 1. StvGoA 
fiWSrvGnB 
5J. 4bStorPr 
1*1*9 «J-'tEirutfier 
17". fl’-sStvklVkt 


Jlb2-"ii Sulcus 
!*!■ BbSurniTy 
*'k 3WSunCtv 


. JunCty 
TWSlMNur 
11% 9>sun flwn 
13 

lMllVa 




6b 4WSuprmrnd 
2b VaSuolnpyt 
6. JbSEHKOWt 


fi'.i 4 TSF 
40 W JWTSrCp 
ll'i 7V; TobPrd 
1ST; 13 TaSv 
,f v I-, Team 

J* ®".Teditiii 
IS*',*' '.TclosPw 

ltb 13 TeiflR 
5® SS’.jTelDW 

If,. '’t'tSHPOU 

li"'. WTennra 
IV.TexBlun 



= 12V. 12% 12'ft — „ 

8 U'ft U % 12% — W 

S 3iS '4% **ft 
SI 14% 17b _. 

an am, BBVuBSYt, +VU 
22 21b 21% 21% — U? 
17% 16% 14% -Vi 

5 5 _ 

l5"i 15% 15% _ 

5% 5% 5W “ 

Ibr IVk 1%, *v« 

3ft 1H 2ft _ 

- J% SS 35 S :S 

4 04% 34 W 34% “ 

24 15 14% 14% * W 

10% IDb u Vi 
7 7*6 *.% 

I* a* 

iaft 

3 

2V* 


lift !?» "Vj. 


JS v *,^bTexftrtor 
19 UbTherTTKta 

S ' S, ThScSs 
14 W 13% ThrkFjt 


34!, I?",t*,rlnsJ 



11 % 12 % . .. 
r & Ljs 
.... a* i 

18% TB% 18% — % 
IIW 11% 11% _% 
14% Mb 14% — % 
5% 5% 5% *% 

I Vi, IVu IVu— IW 

4 4 4 

~ -6 5% 6 _ 

512 Xb 33 "i 34% 

17 B'ft 8>ft SW _ 

W 13'ft 13 13 — % 
4 Zb 2% 2% — Vu 
H3 IJ 14% 14% -% 
2 9% 9% 9% _ 

ia id% 14 M -% 
998 48% 47 b 48 W -% 

.71 13% 13% 13% — b 

143 lb, 1% lb. *W 

IX 2b l«u 2 

M9 13% 13% 13% — % 

S» 14% 14% 14% _ 

375 18% 18% 18% — b 


109 |5b ISW 15% -% 


31b 31 W 31% - 


10% 7% Thmotu n 
14% 12 Thnmotx 

4*iMa« 

asaTW 

Uk \rarteF 

S5S&V 

15^ UPkTrhBl 

as tBft. 

i3 


W}1 IwT r 


'1 ft ~ 


■» 4*6,1711 
3% TVuUndrFh 
6% 4WUnlMrT 
71k fbUflHlexs 

£&»• 


^UFopdA 


.>UGrdn 
8% 6bUM0t)H 
12b 5*AUS EMasd 

a^/.Sbuscen 
»% ,jw>unit*rtv 

l^l^ro 

15% 11 WVKMAV 
15 10%VKNJV 
5W ? VKSetsn 

15% |T VKOHV 
B.. 5WVREF1 
7% JbVREFII 
1% bVtRsti 
,*%_2JkVerear 


.€»! vorwr 

Su. jbviocmrT 


Su- f.T , .v TOIirr 
2% iVuViacvrt 
bviacwtc 




m 6%&S* 






i5%n%vovco 

4%10%VoyFlc 


J7 14™ VayMN 
15% 10"iVoyMN2 
15% 10 VOVMN3 



JO 

- 12 
-. 48 
- 40 
6.9 26 

1 

1J4 

— „ 4449 
—3250 *113 
_ _ 30 
7.0 10 3 

JO 

i5 iT 

7 

410 

3 

.70 

U W 


-720 7J _ 
33 8.1 _ 

25 


JVa 7.9 

-83d 7.5 _ 77 

.780 7.1 „ 1Q2 

■S >■] - "9 


- - 368 

491 4J "j: 3 3S 
JUb A 9 6 

_ _ 151 
-77a 6.9 M 
J5 0.4 _ « 

n z-s - ao 




-JW , IkWktiRO 

0«B5r 

S^SWWhPpf 
9b SVuXytiw 


St .9 45 9 

1.12 f!l 13 « 

- - *g 
i.7 Sr iS 

*-50 7J _ 4390 
■M XI 12 40 

... _ 402* 

- - 149 


»7W 

4b 

2 

W 

116 

8b 

13b 


1** 
I7!k 
03V, 
XW 
■ b 


17 W 17% - 
4V. 4% - - 
IT, lb— Vu 
V, % — b 
US Its -** 
0% 8b b 
12'.. 13b — % 

Vu 'in, _ 

lb ?%— !». 
17% 17% — % 
62 W 6IW— lb 
28% MW -% 

1 '.'ll 1 tin —Ilk 

4 


hl " h * «>d 

^^^dhrlSmidarn 



“d— ColM. 

S—KSYawtiftow. 

•=^ffi^&*vsSGi£; 

! Dr slock din 

feSSffiSiys rar -"" 

SffoSP®' U TOMhu B 

Sh-^oT"- 1 DMd8ftd ^ "Hhddteoffpt 
u— new yearty htonr” w •"■dlstrtflirtion dal 

pontes. r rtcl ’ ors «curit l esnMumedl 

{sSStes^ 1, 

z— salgshtfuiL 




tr|- 

k i , 


Iteralb 


INTERNATIONAL 


tribune 


v„: *is‘ s r:v«v;; > - *.'•'£• 

2 E 2 &T*sy» •«sa A-v 

... < ... s. vfr • ‘li*-:*! 


..\..X>. "l sX. } VSiA- 

<$&*V * ■ ' 

•: • ■:■•{! 
vC' 1 !“■ ^ 

3fc» "3 .• >•■ V ' JfeiV: 4«wi 


'■*,#£: ..s=y ! > 

w'--!— v - 

\ : > V ' ; ';i v ! l:’ 


Saturday-Sundaw 
October 22-23, 1994 
Page 15 


hist column = j REITs Give Small Investors the Keys to Big-Time Property Markets 
At Least You 


-4 :i.j 


» > * «* • • 

* «**»*. ••• 


* ■ *-•- 
*» ■*••- 
* ‘ i .* -• 


Can Always 
Live In It 

T HE three most important factors 
in assessing a real estate invest- 
ment are, by ancient tradition, lo- 
cation, location and location. But 
for international investors there are six 
other equally important criteria. The Erst 
■\ three are taxation, taxation and taxation, 
then, also in triplicate, currency. 

There is no doubt about it, once you 
move across international borders from 
the parochialism of one country, one cur- 
rency, and one tax regime, you are liable 
to find yourself with a complex set of 
financial, fiscal and logistical problems. 
The solutions to these problems may be 
extremely lucrative, but the ineluctable 
conclusion is that you are going to have to 
actively manage your cross-border real 
estate assets. 

It may seem too obvious to moil itera- 
tion, but paper assets donot require some- 
one to keep the lawns trim. Ana added to 
the mundanities of keeping property in 
order, there is usually a tax problem, since 
international property taxes are even more 
heterogeneous than investment taxation. 

But despite the irritating fact that inter- 
national property investment requires 
conscientiousness, it has two great bene- 
fits. First, it is usualty “geared” — in that 
investors borrow and make money on the 
loan. Second, even if everything (domestic 
market, currency, tax) goes wrong, you 
can always live in it 


By Judith Rehak 

T HE BIGGEST stake most Amer- 
icans will ever have in real estate 
is their family home. But those 
who would hire to play at bring a 
real-est ate m ogul might consider investing 
in a REIT, or Real Estate Investment 
Trust 

The REIT is a fund-like U.S. vehicle in 
which investors pool their money, which a 
management corporation then uses to buy 
real' estate, mortgages and other proper- 
ties. Earnings, of which REITs must pay 
out 95 percent in shareholder dividends, 
come primarily from rent and mortgage 
payments. Buoyed by the recovering U S. 
economy, the market in REITs has dou- 
bled in size to S40 billion since the begin- 
ning of 1993. 

REITS are listed on the major U.S. 
stock exchanges and traded like equities. 
Indeed, equity REITs, which own proper- 
ties ranging from apartment complexes 
and holds to shopping malls and office 
buildings, are the most popular type. 
Some of these invest in a variety of pro- 
jects around the United States, while oth- 
ers are specialized, owning, for example, 
only apartment buildings in a specific 
state or even a certain city. 

Performance-wise, REITs have posted 
healthy returns — an average annualized 
14.23 percent over the three-year period 
ended September 30, afwnviiog to the Na- 
tional Association of Real Estate Invest- 
ment Trusts. The Standard & Poor's 500 
stock index gained 9.15 percent over the 
same period. 

REITs really began to attract attention 
earlier this year when their total return 
(price appreciation pins reinvested divi- 
dends) for the first half came in at 531 
percent, as the S&P 500 lost 339 percent 
and rising interest rates hammered the 
U.S. bond market. But h looked as if the 
party might be over just as it had started. 


Real-Estate Investing 


Page 17 

U.K. property funds 
New York apartments 
D ealing with the taxman 




as REIT prices in the third quarter were 
pumroeled by a glut of new offerings. 

But many analysts and money manag- 
ers say that the REIT market has now 
stabilized. And with many REITs trading 
□ear their 52-week lows, some see compel- 
ling reasons for investing in these real- 
estate vehicles. 

“Relative to other investments, they 
look good,” said Craig Litroan of Litroan 
& Gregory, a San Francisco- based invest- 
ment adviser. “A lot of them are generat- 
ing 6 - to 7 percent dividends, j ust based on 
rental income. That's double the S&P 500 
dividend of 2.86 percent. And as these 
properties start to appreciate, they’ll look 
even better on a total-return basis.'’ 

But selecting a RETT involves assessing 
a complex mix of factors, such as widely 
varying local markets and economies. For 
example, shopping centers may be thriv- 
ing in the Southwest, while industrial 
paries are a better bet in the Chicago area. 

Another important factor is the finan- 
cial structure of a REIT. Those that are 
heavily laden with debt can be at risk of 
going undo* if their market turns against 

th em. 

Louis Taylor, a real-estate analyst with 
Prudential Securities in New York, said 
that REITs focusing on apartment budd- 
ings in the Southern and Southwest states 
look attractive. “These markets are bene- 
fiting from migration from within and 
from outside the country,” he said. 

Mr. Taylor's top REIT pick is the Equi- 
ty Residential Property Trust, which has a 
large chunk of its holdings in those re- 
gions. 

Dean So tier, portfolio manager of the 


i.V< ft' • 

X - •• 

> •» * jt V : 

• X' 

f 


- mm -WmD: 

■ *L 









■1 

s 

f 

■ 

'• ' / • - : - 
■y 

RTaI I 





Source: National Association of Real Estate Investment Trusts. 


$125 million PRA Real Estate Securities 
Fund, a mutual fund that invests ad of its 
assets in REITs, has also targeted the 
apartment market He feels most optimis- 
tic about the Southeast and, specifically, 
Atlanta. 

“It's a red-hot area right now,” he said. 
“Building stopped for quite a while, and 
now d eman d is exceeding what's coming 
onstream. We expea that the market will 
tighten and that apartment owners will be 
able to raise rents.” 

Mr. Sorter said he also liked Post Prop- 
erties, which he describes as a conserva- 
tively financed REIT and “a brand name” 
in Atlanta. Its shares are currently trading 
at around S30, yielding 6 percent. 

These analysts also warn, however, that 
it's easy to get burned in a market that can 
still be notoriously volatile: 


“The office market is coming back, but 
you have to be selective,” said Mr. Taylor. 
“Downtown New York City is terrible, 
but Raleigh, North Carolina is dong fab- 
ulously. Unemployment is under 4 per- 
cent there, IBM is moving in, and there’s 
not enough space to go around.” 

Mr. Taylor added that High woods 
Properties, a REIT yielding 8.1 percent 
and a dominant player in Raleigh’s office 
market, looked lute a good buy. 

But Mr. S otter r emains unconvinced 
about office REITS. “We don’t have one 
in our portfolio,” he said. “The cash flows 
are still too volatile and I feel there are 
better opportunities elsewhere.” 

One of Mr. Sorter's more offbeat favor- 
ites is ROC C ommuni ties, a Denver-based 
REIT that is buying up mobile-home 
parks. He said that the mobile-home park 


90 ‘92 


business is very fragmented, much of it 
consisting of “mom and pop” operations, 
and is ripe for consolidation. “They 
haven’t been efficiently run, and profes- 
sional management can maximize earn- 
ings,” he said. 

Some money managers ore tempering 
their bets on new REITs with positions in 
older REITs that have proven track re- 
cords. Among the latter are Weingarten 
Realty Investors, which has been success- 
ful developing shopping centers in the 
Houston area, and United Dominion Re- 
alty Trust, which owns residential apart- 
ments along the Atlantic Coast. 


The Money Report is edited by 
Martin Baker 


Dreaming of a Million- Dollar Home? In Many Cities , It Doesn’t Amount to Much 


j J ■ 

t ■ - '• 

* ’ 7 

i /- v *■ 

' i : ' 

. . 

. . • • 
i * * • *- 

W'" ■ 




• * . — i ' 


‘ ; What wiU SI milium buy in 
residential real estate in various 
global capitals? A special Money 
Report survey compiled by Ste- 
ven Brull, Kavila Daswani, Iain 
Jenkins, Ron Lay, Kevin Mur- 
phy, Judith Rehak and Robert C 
Siner. 

Tokyo 

M ILLION-DOL-. 

LAR properties 
are so run-of-the- 
mill in Tokyo that 
the Japanese have coined a 
ward for them: oku-shon. 

This is a combination of the 
Japanese word oku, which 
means 100 million, and the sec- 
ond syllable of mansion, which 
in Japanese-English refers to a 
modern apartment building 
made of steel and concrete, as 
opposed to wood used in tradi- 
tional Japanese homes. 

With the yen worth about 
one U.S. penny, 100 million yen 
is equal to about $1 mQhon. 
Unfortunately, lOO nriffion yen 
doesn't go nearly as far as 100 
million pennies — although it 
does buy considerably more 
than just a few years ago. 

At the height of Japan’s bub- 
$ We econom y at the aid of the 
‘ 1980s, $1 mution would buy an 
apartment of 150 square meters 
(1,614 square feet) in a good, 
but not prime location of Tokyo 
— Shimokitazawa, say, not 
Omote-Sando. The difference is 


in Tokyo appear to be priced 
out of proportion with those 
elsewhere — and, indeed, with 
local incomes. 


New York 


F OR a home seeker 
with SI million to 
spend, Manhattan's 
eclectic residential 
maiket cairbe aB things to all 
people. Consider the following 
properties recently sold, or just 
listed on the market 
Last month, the Corcoran 
Group, a major New York real- 
tor, sold two apartments in the 







5:551' 

4 


_ . Mlfjllff— I 


£.**-*=• 


, iw 1 ■ 


i «-■ 1 





c3 — j 


Source: S.Q. Warburg 
roomily equivalent to that be- 
tween Wimbledon and Ken- 
sington in London, or the Up- 
per West Side and Fifth Avenue 
in New York. 

Today, following a 40 to 50 
p erce n t fall in land prices, $1 
million wDl buy a bigger and 
more centrally located apart- 
ment But just how much bigger 
amt better is uncertain: With so 
many owners sitting on paper 
losses, few are willing to sell at 
today's prices, so the market is 
very quiet 

“The market is below wnars 
‘advertised, bnt for $ 1-0 minion 
you’re still not going to get 200 
square meters in. Omote-Sando, 

only in the nether lands of Seta- 

gaya-ku,” said Tom HiC, an an- 
! alyst at S.G. Warburg in Tokyo, 
referring to the upper middle- 
dass vrard on Tokyo’s south- 
west side. 

Four years ago, the average 
price of a condominium in To- 
kyo was 67 million yen, or 
about $670,000 at today’s ex- 
change rate. Now, the average 
price has fallen 10 just below 50 
milli on . ym Thai will buy a 90 
square meter apartment about 
45 minutes’ commute from cen- 
tral Tokyo, 

Even at today's lower prices, 
however, residential properties 


Source: The Comoran Report 
$1 milli on category. The first, a 
‘classic’ 8 -room Park Avenue 
apartment in a pre-war building 
with high ceilings and fire- 
places, went for $990,000 to a 
‘classic’ client — an investment 
banker from Connecticut. 

“It had a partial view of Cen- 
tral Park,” said Barbara Corco- 
ran, president of the agency, 
explaining a major determinant 
of the price. “If it had been a 
full view, it would have been 
$1.4 million.” 

The second sale was in a 
sleek, modem apartment tower 
in the East 50s, overlooking the 
East River and the United Na- 
tions building. It was a six- 
room condominium and was 
snapped up for $ 1.1 nuDion by 
an Italian buyer. 

Jan Hashey, who specializes 
in salting lent apartments in 
downtown Manhattan for the 
Ambrose-Mar Elia realty con- 
cern, said she has just put a 
7,000 square foot (644 square 
meters) loft on the market that 
is likely to sell for just under $1 
nriTtirm. Her clients, she said, 
tend to be entertainment fig- 
ures from the United States, 
Europe and Japan, although 
last year she sold four lofts to 
executives from the same New 
York investment bank after 
year-end bonuses were award- 
ed. 

Miss Hashey is currently 
showing a loft that originally 
belonged to a well-known 
American artist who put in nu- 
merous walls to section off the 
hu gp space. The subsequent 
owner, a European artist, then 
ripped all the new walls ont, 
except for those around two 
marble bathrooms. 

She’s idling prospective buy- 
ers: “There are five egos in the 
world appropriate for this loft, 
and two have already owned 
it.” 

Los Angeles 

I N most of the United 
States, the phrase “mil- 
lion dollar home” con- 
jures up images of unat- 
tainable luxury and opulence. 


Not in Los Angeles, where 
what costs SI million today in 
the star-studded communities of 
Beverly Hills, Bel Air, and Santa 
Monica cost from $13 million to 
$2 miltinn just five years ago at 
the market’s peak. 

Moreover, despite the sub- 
stantial drop in prices, today’s 
prototypical million-doll ar 
home in the upscale west side of 
Los Angeles is of relatively 
modest proportions: three bed- 
rooms and perhaps 3,500 
square feet. 

If you give up daily contact 
with the stars and take a short 
freeway drive to the affluent, 
though decidedly less-chic sub- 
urbs of Enrino, Palos Verdes, or 
Pasadena, however, you can get 
more for your money. There, . 
the $1 milli on home would like- 
ly cover at least 4^500 square 
feet, and cone equipped with 
five bedrooms, a pod, and may- 
be even a tennis court. 

“It’s a wonderful time to 
buy,” said Fred Sands, Presi- 
dent of Fred Sands Realtors in 
Beverly Hills. “Prices are de- 


pieces of real estate is priced at 
around $1 mSUon. 

Nick Thomlinson, head of 
the Kensington office of Knight 
Frank & Rutley, the agent sell- 
ing the London property says: 
“Yon can get a nice terrace 
house or flat in central London, 
but nothing very exciting for SI 


•> s t u-, -London % 




^Tfl§2£&M 

h^wmagSB^n 


Source: Bloomberg 


pressed. Yon can buy a whole 
lot more for your money, and 
we’re starting to see prices move 
up in certain areas.” 

Not all realtors in the region, 
of course, say that now is the 
time to buy a $1 millio n home. 
Some fed that prices will fall 
even further before the market 
bottoms oul But many of those 
who do fed that prices have hit 
their nadir lam ent nonetheless 
that some buyers will still find 
value wanting. 

Nancy Ross, an agent with the 
Jon Douglas Company, which 
specializes in the West Los An- 
geles area, said of a four-bed- 
roam home in Beverly Hills 
priced at $1 milli on; “It’s cute 
and it’s charming, but it's proba- 
bly not a miflion-dollar home in 
the eyes of the rest of the world.” 


London 


A FIFTEEN minute 
stroll from Harrods 
department store and 
a short tnbe ride from 
afternoon tea at the Ritz Hotel 
is Sheffield Terrace, a street in 
the heart of Kensington. A 
three-bedroom Victorian house 
at this sought-after address is 
currently up for sale. 

A thousand miles away in 
Fife, Scotland, a 17th-century 
castle set in 50 acres (20 hect- 
ares) of rolling park land is also 
OP the market It has seven bed- 
rooms and is dose to the fam- 
ous golf courses of SL Andrews. 
Each of these vastly different 


SSE««B«aB 

Source: SaviSs hit 

milli on. On the other hand, you 
could buy half of Scotland for 
that money.” 

Demand for elegant four- 
bedroom homes in exclusive ar- 
eas of central London has been 
hig h in recent years, say ana- 
lysts, sending properties priced 
at SI milli on several years ago 
to much higher levels now. 

“For $1 million you would 
have to settle for a nice maison- 
ette or fiat overlooking Holland 
Park, or a four-bedroom Vic- 
torian family house in Abing- 
don Road, Kensington," said 
Peter Young, head of the Ken- 
sington office of the estate 
agent John D. Wood. “But you 
would get more for your money 
slightly further west.” 

Moving north and west of 
London into the English “home 
counties," however, wfll still not 
quite enable a buyer to join the 
English “bunting-shooting- 
fishmg set" for $1 milliou. 

“You won’t be able to buy a 
Georgian mansion with stables 
for the horses and a trout 
stream." said Charles filing- 
worth of the London real-estate 
consultancy Property Viaon- 
“But you could get a pleasant 
farm house." 

Hong Kong 

S TUNNING rises in val- 
ues across the board 
have made owning a 
home in Hong Kong 
one of the world’s best property 
investments. 

But the steep appreciation in 
sale prices over the past few 
years leaves relatively slim pick- 
ings for those with a mere SI 
million to spend. 

“Four car-parking spaces, 
that’s about it in Mia-Levels,” 
said Isabel Mi chic, residential 
director with First Pacific Da- 
vies, referring to an area fa- 
vored by middle-class Hong 
Kong families and expatriates. 

Earlier this year, an unnamed 
buyer purchased a angle Mid- 
Levels parking spot for 4 mil- 
lion Hong Kong dollars 
($518,000), a deal that neatly 
encapsulated the madness of 
Hong Kong property prices. 

Governor Chris Patten’s 
pledge to take measures to low- 
er real-estate prices triggered a 
10 to 15 percent drop in the 
highest rents, falls of 5 percent 


in prices and a withering of 
transaction figures in the weeks 
following the government's 
tough talk last spring. 

Bui recent surveys have 
found that, after a few months 
of nervousness, prices are re- 
bounding again. 

Asking prices for homes, usu- 
ally -high-rise apartments mea- 
suring more than 1,500 square 
feet fell by only 43 percent in 
the past three months to 7,800 
Hong Kong dollars (slightly 
over $ 1000 ) per square foot 

That average price was still 
41.8 percent higher than the 
same period one year ago, ac- 
cording to the Vigers-Knight 
Ridder monthly survey of local 
property prices. 

In cramped Hong Kong, the 
average price for apartments of 
less than 1,500 square feet is 
5,910 Hong Kong dollars 
($763) per square foot, which 




that deal exclusively in the lux- 
ury end of market in the D.C. 
area. She explained that a “real- 
istic” market has led to major 
price cuts in luxury homes in 
recent years, producing “fabu- 
lous” values, particularly in the 
most expensive properties. 

What does quite a bit mean? 
Miss Gin says you would get a 
very big house — about 10,000 
square feet. It would likely have 
“enormous” rooms, high ceil- 
ings, balconies, a huge master 
suite equipped with a Jacuzzi, 
and a state-of-the-art kitchen 
set for entertaining. 

There usually would be an 
entertainment center and an ex- 
ercise room, and often a cli- 
mate-controlled wine cellar. 
The house would be energy-ef- 
ficient, with zoned heat and air 
conditioning. 

Everything about the house 
and grounds would be geared for 
minimum up-keep, from auto- 
matic sprinkler systems outride 
to central vacuum-cleaning sys- 
tem ft would indude ev- 
ery labor-saving device avail- 
able. In the District of 
Columbia, houses would tend to 
be older with marble Doors. In 
Virginia, there mi g ht be stables. 


settle for 100 square meters, 
nothing bigger ” she said. 

There are only about 100 
sales a year in Paris of proper- 
ties valued at more than $1 mil- 
lion, estimates say. But one 
realtor said that even for that 
kind of money, a buyer would 
be bard-pressed to find some- 
thing “truly extraordinary.” 

Apartment owners in Paris 
looking to sell their properties 
and turn a profit should hold on 
until the market improves, add 


other analysts, as prices have 
fallen far in the past few years. 
While many real estate agents 
believe the residential market 
has stabilized and that prices 
will not fall any lower, any price 
increases, they say, will be 
pegged to overall economic im- 
provement which, at present, 
still seems a ways off. 

“It will be a very slow process 
before prices increase again,” 
said Claude Partiot of the Au- 
guste-Thouard agency. 




SOUK& First Pacific Davies hit 


means SI million buys a home 
of only about 1,300 square feet, 
a total floor space of just over 
10 meters by 10 meters. 

Smaller flats, those between 
700 and 1,100 square feet, cost 
on average 5,015 Hong Kong 
dollars (about $650) per square 
foot, and builders often cram 
three bedrooms, two bath- 
rooms, a small kitchen and oc- 
casionally tiny servants’ quar- 
ters into the space. 

Washington D.C 

T HE hand-painted en- 
try welcomes family 
and friends into a 
home of sophisticated 
distinction, filled with luxuri- 
ous details to ensure your com- 
fort A balcony-topped stair- 
case leads from the library to 
the master suite. 

So reads a brochure describ- 
ing a luxury real-estate property 
in the Washington, D.C. area. If 


Y OU could do a lot 
worse with a spare $1 
milli on than to invest 
in Paris real estate, 
say analysts who note that reri - 1 
dential rales in the French capi- i 
tal are at their lowest levels in 
five years. ! 

Buyers with $1 million to I 
spend, add some, would be able 
to afford excellent properties in 


Paris 


[ ■ EARN UP TO 

7.75 

pa gross 
equal to 

9.05 

compound interest* 

■GUARANTEED 


You can now take advantage of these 
attractive rates for fixed term deposits. 


£50,000 -£250,000 


HXEDPHSOD 

GROSS HXED/M7E 

COMPOUND 

INTEREST' 

2 years 

6.300% pa 

6.71% 

3 years 

7.125% pa 

7.64% 

4 years 

7.375% pa 

8.23% 

5 years 

7.750% pa 

9-05% 






/ * % %1 

£.r 

SlilljSSly 


Source: Bloomberg 


luc macmess ui 

roperty prices. you have $1 million to spend on 

Chris Patten’s a home in this pan of the Unit- 
: measures to low- ed States, what can you get? 
prices triggered a Quite a bit, according to 
cent drop in the Cathie Gill, president of Cath ie 
falls of 5 percent Gill Inc., one of the few realtors 


Source. Chambredes Notatros urr 

the city’s most posh areas — the 
7th, 8 th and 16th arrondisse- 
ments — some of which would 
be as large as 160 square meters 
and have a large terrace to boot 
At a price of about $1 mil- 
lion, said a spokesman for the 
Residence City agency, a 148- 
square-meter apartment with a 
terrace half that size and park - 1 
ing is currently for sale in ! 
Neuilly-sur-Seine, just over 
Paris’s western border. The 
agency also recently sold a 140- 
square-meter apartment in a 
new building in the 16th for $1 
million. | 

But Marie-Claude Francois, 
a director of AAMC, a high-end 
Paris realtor, said that $1 mil- 
lion still wouldn’t buy anything 
with real charm. 

“If a client wants to see the 
river, or be in the 7th, or have j 
high-ceilings, or a 17th century j 
town-house, they will have to 


Attractive rates are also available for £1,000 to £49,999, 
and for 1 year fixed period. 

Interest rates are guaranteed not to change during the 
period of deposit. For further information about the full 
range of Lombard deposit accounts for amounts of 
£1 ,000 and above simply fill in the coupon and send it 
to Lombard or call us anytime on 071 409 3434 quoting 
reference 1507 or Fax us on 071 629 3739- 


Lombard 1 


DEPOSIT ACCOUNTS 

To- Chjl.Kirknevs. 

Lombard North Central PLC, Banking Services Department ISO" 7 . 
12 Mount Street, London W1Y 5RA. 

Mcax trail me dcwbcilyroi ikpua mounuiTlitot UBmiS CAPlTAlii 

NAME i Mr^Mis.'Miss.'MsI 


BcgwrafdintnRLmdNo Jr*©, 

BcgumdOfflcr-Urafara House. 4 Priores Vay.RcdhlQ, Surrey Rill INP.Fngbrvi 

(U,*!..>lil»lw.nr..iJII*iia IS 


'lnrerea is credited annually to cam iraetea an iraensL For example XSO.DGO deposited 
for 5 yean becomes £72,625 rtprivalem 10 pa gross. Cm* ran-, assume no 

deduction u r liJMC cate tax. Sates coma at time of going to press but may change 
As these are lued term accounts wkhdrawab before maturttv ate na permuted. TSV 
assume that all our customers have complied with loot regulations what sending funds 
to lombard for deposit. 


XT-”*' 






Page 16 


■■KSSbiiSS 

££fSf. l £![? sFu " tfl -M * mi, 

SSjasustJ ™ 

rSSS? 9 "^ ™ 
s_aa s^ M — i J* 

abn AWRORm F1 73aM 


« "S"^ Lu,u “WMWMJO 

2 iSa. America EH fb j 

2 North America Ea F d s 

tf Germany Equity Fd DM 

a Eurooe Band ex . 

o Germany Bona Fd r 


w 1 * , W® Management lm 

a AIG Amer, Eq. Trust s 

" AiG Balanced World Fd t 

wtnl m * rBMk,sB4,F,1 ~" -* 

wAIG Eurecu Fund Pic Ecu 

i» AIG Euro Small Co Fd Pic _* 

WAIG Europe Fd Ptc i 

"AIG Jason FuM - € 


0070 

51.15 

9691 

5007 

7? JO 


tf AIG josa, smau Cos Fd_j 
"AIG Latin America FORK:.! 
"AlGMiUcurrencvBdFdPIcS 
w AIG Sovlh East Asia Fd— _*S 
ff High Lite Fi ma . c n . 


a UBZ EunKJollmlzer Fund. Ecu 

tf UBZ UquUitv Fund* S 

0 UBZ LlouWItv Fund DM— DM 
rf UBZ Liquidity Fund Ecu_Ecu 
d UBZ Liquidity Fund sf . _ . s c 
ALFRED BERG 

rf Allred Berg Horten S 

Alfred Bero Sicav 
rf For East j 


310797 
10957m 
1(115142 
107.9318 
13U934 
1 003271 
09385* ■ 
1550 
1 48.9JO 
101.1977 
2A7J0IS 
985 
IIJ9 
1153490 
127.0*5* 
127.9218 
121)970 


21053 


d Germany. 
d Global 


-DM 


d jacan. 


d Netherlands- 


a Norm America. 

d r 

ff UK.. 


171.19 
22451 
17050 
1154100 
23530 
121.10 
17252 
74.15 


ALPHA FUND MANAGEMENT, LTD 
48 Pur-La-vm ltd. Hamilton. HMlt Bermuda 


"Alpha Asia Heoae (Oct I2U 
m Alpha Europe Fd (Aue3l)-Eeu 
mAtstia Futures Fd<KP30)-S 
m Aloha GIM Prp Trod Seu 305 
nt Alpha Global Fd (Aup 11) _s 
m Aloha Hdo Fd Cl A/ Scs 30_S 
m Alena Hdg Fd Cl B/Sep 30_5 
m Alpho Hdg Fd Cl C/Sea »J 

m Alpha Latin Amer lAug 31 ) A 
rnAinha Paaiic Fa isee »)_s 
m Alpha SAM S 


m Alpha Short Fa (Sep 30). 
m Aloha 5M-T FI • Inc/Seo 30J 

mAipha niktale Fd (Sep 3SI-S 
m Alpha Worthing Ion (Sea 301! 

" BCO/AiphaGI Hedge Ana US 
w BCO/Aletta Mk t Mtri Scs X * 
m Boon- Alpha EurHda Aug 31 Ecu 
mCreseaf Asian Hedge ScpXS 
mGiohaivew Value (Sec 301—5 
w ttelsel Joeon Fund Y 


m Hemisphere Neutral SecXJ 

m Lahnvest Value (Sep X) S 

mNIbhApsi Aurelia (Sen 30 1 _* 
m Poet* RIMOopBVI OCI17-S 
mRlnooen Inn Fund/5epX^S 

m Sage Inll Fd(5«p 301 S 

m Solus inti Fd I Sen wi s 

AM5TEL (ASIA) LTD Tel: 152-525 87 S3 
w Sarlnier Japan Small Co l_S 1052 

m Theta Company Fd I Y 1023200 

ARISTA CAPITAL GROWTH FUND LTD 
Zurich J 1-1-391 BeX 

iv Regulation c * !J4 


125.79 
240.13 
21554 
9657 
1013.10 
42L13 
10167 
10L73 
3*a9S 
39147 
121*4 
*4 in 

USX 
1 71 55 
11IX 
89 02 
90.19 
15357 
11086 
16114 
10313 
104.07 
13X06 
171 A3 
10538 
9156 
114.77 
10959 


ARRAL ASSOCIATES LTD 
iv Arrai American Quant Fd— J 
iv Arrai Aslan Fun d - 9 


14.10 

Wd 

212*0 


iv Arrai Inn Hedge Fund. 

ATLAS CAPITAL MANAGEMENT LTD 
" Altos GtoOol Fd s 9X89 


BAH, 12 Place VendoaK, 75001 Paris 
rnlntermartet Fund S 

t rmeroftl Convert Btfs FF 

Iriterptfl Inti BdS 5 


r interptfl Obll Convertibles.! 
Infermarkel Muttlairrancy Fund 

m Class A FF 

m Class B C 


54581 

2*1353 

511.37 

604.13 


227X34 

21780 


BANK BRUSSELS LAMBERT (32-Z) 54720X7 


O BBL Invest America. 
d BBL Invesl Belgium. 


d BBL invesl Far East. 
d BBL Invest Asia. 


a BBL invest Latin Amer . 
d BBL Invest UK. 


d BBL (L) In V Goldmines—— 3 

d BBL (L) invest Euraae L F 

d BBL ILI Invest World LF 

d BBL il) invesl Base Melolss 

d BBL IF) invest France FF 

d BBL (FI Rdrtotimd FRF FF 

d BBL Renta Fd mil i r 


J BBL Patrimonial Bal LF 

d Renta Caen S-Medlum bef bf 
S Renta Cosh S-Medlum DEM DM 
d Renta Cash S-Medlum USD S 
BARQUE BELGE ASSET JKGMT FUND 
Share Distributor Guernsey 0481 72M14 


42157 

1274000 

35004X10 

604.12 

650.15 

2307* 

14830 

133X50 

342100 

snui 

41659 

1479012 

3546811 

19710.00 

12127700 

521088 

3041X1 


» Inll Eoultv Fund, 
iv Inti Band Fund. 


■v Dollar Zone Bd Fd. 


w Asia Pacific Region Fd. 
nr India Fund. 


"Sterling Equity Fd_ 
nr Starling Bd Fd. 


BANQUE INDOSUEZ 

■v The Dragon Fund Sloov S 

m Japan Gld Fa a (3inH/94)_s 
m Japan Gld Fd B (31/0B/94)_S 
m Dual Futures Fd Cl A Units! 
mDual Futures Fd Cl C UiWtsJ 
m Maxima Fut. Fa Ser. 1 a. A! 
m Maxima Put FdSer. I CL BS 
m Maxima FuL Fd Ser. 2 Cl. C! 
m Maximo Fut. FdSer. 2 CL OS 

m Indusuer Curr. Cl A Units s 

m Indasuer Curr. a B Unlis—l 
w iPNA-3 S 


1337 

1559 

11.94 

11.72 

1051 

1.193 

1425 


d ISA Aslan Growth Fund. 
d ISA Japan Reg. Growth Fo.Y 

d ISA PadHc Gold Fund $ 

d ISA Asian income Fund S 

d Inaosuer Korea Fund S 

nr Shanghai Fund S 


" Hlmotovan Fund. 
iv Manila Fund. 


"Malacca Fund. 


d Indosuez Hanp Kano Fund-S 

d Slogan & Malay Trust S 

d Padhc Trust hks 


d Tasman Fund, 
d Japan Fund. 


•v Managed Trust . 


d Gsrtmore Japan Warrant — S 
» indosuez High Yld Bd Fd A5 
" indesuez High Yld Bd Fd es 
t> Maxi Espann Pros 


b Maxi France. 


tv Maxi France vs. 


.FF 

.FF 


9880 
12650 
11052 
12951 
11581 
125761 
I1&3I4 
105481 
104527 
1(0811 
112239 
43500 
0784 
94500 
2055 
1141 
1132 
1143 
2152 
3350 
10.72 
6141 
49410 
43470 
38JSJ 
6390 
18575 
37305 
04* 
*25* 
99.14 
9054480 
4880 JB 
470452 
11.13 
1085 


d Indosuez Latin America _S 
" Indosuez Multimedia Fd 
BANQUE 5CANDINAVE EN SUISSE-GENEVA 

nr nuelbond CM SF 7231 

iv Inteuec CM SF 201 31 

" Swlsslund CM SF 14954 


BANQUE SCS ALLIANCE-CREDIT BANK- 
MID 346-1X1. Geneva 
" Plelooe Norm Am Equities 5 
" Pie lode Euraae Eaulttes — Ecu 

n Ptdede Asia Pacific 6a. s 

"Plclade Environment Ed S 

w Plclade Dollar Bands _3 

" Pldode ECU Bonds Ecu 

nr Pie lode FF Bands FF 


nr piei ode Euro Conv Bands _SF 
iv Piftade Dollar Reserve . 3 

w Plclade ECU Reserve Ecu 

» Pieiade SF Reserve SF 

" Pieicde FF Reserve FF 


BARCLAY* INTL FUND MANAGERS 
Hong Kong, Tel: (852) E6IT00 

0 Chino IPRCI * 

d Hong Kong J 

d Indonesia 1 

d Jetton — 1 


10384 
12883 
97 JO 
88.17 
*731 
10543 
10584 
6930 
10211 
10541 
1X40 
1QSJM 


d Korea. 


d Maiovsia. 


d Pnillcaincv. 
a Singapore— 
d Thailand . 


d souih Eosi Asio. 


gAsn 

33319 

13434 

10380 

14.171 

28875 

3112! 

22051 

40887 

36357 


BARING INTL FD MNGR5 (IRELAND) LTD 
(NON SIB RECOGNIZED] 

■v Australia. — — 1 


i Japan Technologv. 
'Jason Fund. 


JGPCn New Generation, 
nr Valors to & Singapore— 
iv North America. 


■vOOaeus Fund 

». Pacific Fund. 


international Bond . 

b Euroaa Fund 

•v Hone Kona . 


w Trlstar Warrant. 


w Global Emcrgina M» is. 
w Latin America. 


■* Currency Fund. 


nr Currency Funo Managed . 
iv Korea Fund. 


•v Banna Emera World Fe_ 
BCL CURRENCY FUND 
mBCL USD 


2196 

6TJ1 

265* 

2237 

13082 

27.15 

44 3J 
11757 
1114 
17.74 
10700 
3*85 

1642 

173* 

11*0 

5242 

10.97 

18*2 


mBCL FRF 

nBCL JPY 

mBCL BEF. 


_Y 

.BF 


BOD GROUP OF FUNDS 

» BCD U5S Casn Fund S 

w BOD Ecu Casn Fund Ecu 

"BDD Swiss Franc Cash SF 

w BDD Int. Bond Funa-U5!_S 
" BDD Int. Bond Fund-Ecu —Ecu 
" BDD N Amer icon Equity Fd* 
nr BDD European Eoultv Fund Ecu 

mBOD Aston Eoultv Fund t 

m BDD US Small Cap Fund J 

mBOD Japan Fd. 


9163* 

8*441 

924.79 

43*550 

0269580 

2*67400 


mBDD Emerging Mkis Fd S 

* Euretlnannere Fixed Inc FF 

nr Eurofln MullLCv Bd Fd FF 

BELINVEST MGMT (GSY1 LTD 
" BellnvcN-Bradl— s 


542141 
422443 
5111.9* 
512150 
MSU3 
500141 
5947 42 
14*194 
106197 
94733 
994.14 

10481 J7 
9062J7 


•v Betinves'-Gtaoai. 
" Belmvest-lsrael. 


u Bel Invesl -Muiitawd. 

" Bet Invest -Superior. 


BNP LUXEMBOURG 
INTER CASH 
I Franc FRF. 


I3SH3S 

99113 

66SJ2 

92200 

941.79 


i France Securlte. 
I Inter CiBh DM. 


.FF 

-FF 


I Inter Cash Eco. 


f Infer Cosh GBP. 
t Inter Cash USD- 
l (nler Cnut Yen. 


.Ecu 


INTER MULTI INVESTMENT 
m Privatisation) Inti invest _S 
w Telecom invesl ! 


1507452 

1605930 

278482 

195078 

150*41 

125036 

165163 


INTER OPTIMUM 

w interband USD 

w BEF'LUF 


12301.74 

103080 


Muiilcerrses dm. 
» UiO 

" FPF. 

* ECU 


-BF 

.DM 


-FF 


INTER 5TPATEGIE 
" Australia— — 
France.. 


141442 

105349.00 

2*1035 

134483 

1491680 

121083 


• Euraae du Nord . 


«* Euraoe du Cenire. 
£ orgpe du Sud- 


» Jonan 

» Amerteueou Nord. 
w Sue- £ si Asiailaue _ 
"Global 


—Ecu 

_Y 

—5 


855 UNIVERSAL FUND SICAV 

d Eurosec ECU A iDlv) .Ecu 

d Eurosec ECU B (Caoi Ecu 

a Intel sec USD A (Ov) s 

d in tehee USD B (Cap) J 

d inieigond USD « (Olv) j 

d Inletaand USD B I Cap) S 


1I70 9J 
10405.9* 

124931 

09784 

116134 

1596J* 

1B0284 

36042 


137.9541 

IJ7J476 

2184X 

210753 

■&592S 

19.1701 


INTERISATIONAL HERALD TRIBUNE. SATURDAY-SUNDA\ , OCTOBER 22-23, 1994 




d Flnnsec Global FM A (Divl Fm 
d FWroec Global Fm b ICopIFm 
d Intalbond FRF A IDlv) — — FF 

d ItiWBand FRF B (Cap) FF 

d Far East USD a idivj * 

d pgr East USD B (Can) * 

tf Japan JPY A (DIV). V 

tf Japan JPY B (Cool Y 

d Parsec FPF B I Cap) FF 


d Latin Amariai USD A (Dlv)S 
d Latin Amertco USD B (Coon 
d Norm America USD A (Div)S 
d Nth America USD B (Cop) J 

d Alla USD A IDlv) S 

d Asia USD B (Cop) * 


a world USDA(Dlv). 
d Wdrid USD B (Can) . 


2124360 

2)4.990 

ifl4.n» 

1X1646 

turn 

277421 

1101.9314 

1101-93M 

1148393 

27J928 

278938 

178541 

178541 

108072 

108072 

10J009 

112009 


BUCHANAN FUND LIMITED 
cX Bank at Bermuda Ltd: (80«) 295-«00 

t Global Hedge USD. S 1134 

i Global Hedge GBP— c U84 

t Global CHF SF 1489 

l European & Atlantic S MJ8 

t Fadlic ! 14.10 

I Emerging Mamets S 25.04 


CAISSE CEKTRALE DES BANQUE! POP. 


d Fruefllux - OM. FsesA. 

d Fruclllui - OM. Euro B Ecu 

nr Frudiiur - Acttans Fses C -FF 
d Frvdflu* - Actions Euro D^cu 
d FtvetlKur - Court T*rme E-FF 

d Fructllux - a Mark F DM 

CALLANDER 

w Callander Etner. Growth— J 

wCaltandaf F -Asset * 

m Callander F-Austrlon AS 


8459J0 

1506.14 

818741 

17S3J4 

87*024 

109985 


<v Callander F-Spanlsn PVj 

tv Callander F-US Health Care* 

w Cat lander Swfes Growth. — SF 

CAMPBELL (BERMUDA) LTD 

iv GRUnshtullarKH ( 14 Oct) -S 


13238 

15*56 

1190JI 

808080 

47.17 

145-48 


CANADIAN INTERNATIONAL GROUP 


90549 E 


a Cl Canadian Grtmftt Fd CJ 

d Cl North Anterior Fd CS 

d Cl PocHK Fund CS 

d Cl GWXJI Fm* C* 


d Cl Emerg Markets Fd O 

d Cl European Fund. 


d Canada Guar. Mortgage Fact 
Capital international 

w Capital inn Fund ! 


*40 

8.18 

1644 

98» 

1028 

574 

Mil 


iv Capital itaflaSA. 


13776 

4348 


CDC INTERNATIONAL 

iv CEP Court Term* 

w GFi Long Term*. 


Jr F 


JF F 


17886686 

151728840 


CHEMICAL IRELAND FO ADM LTD 
353-16613 433 

"Korea 215 1 Century lnvt_ s 1141 

w The Vettow Saa Invt Qi S 117) 

Cl HD AM BRAZIL RIND 

d CJndam Eoultv Fund S 16*8248 

d CWidam Bokmcad Fund s mam 

CITIBANK (LUXEMBOURG) SJL 

POB 1373 Luxembourg TeL477 9! 71 

d Ot In vest Global Bond J 

J CJ] Invest FGF USD 


d ClnrsvesJ FGP ECU. 

d Oltnvest Selector. 


.Ecu 


d cmairrencles USD- 
d ClUcurrendesDEM- 

d Cmcurrendes GBP— 

d Clttourrencta Yen. 


d CIHaart NA Equity S 

d entport Cant. Euro Emiltv-Ecu 

d emport UK Eoultv t 

d attoort Frantti Equity FF 

d Otiport German Eaully. — DM 
d Clilport Japan Eavlty Y 

d a noon iapec. 

d Cltipart Eamec- 


d ailporl NAS Band, 
a atlpori Euro Bond. 


.Ecu 


d Managed Currency Fund — 5 

d India Focus Firm * . -S 


CITIBANK (PARIS) SA. 20/18/94 

d an 96 cop GM s 

d Otl Gld Aslan NUrts Fd S 

Cititrust 

"US! Equities 5 


9679 

171642 

1235.19 

1475*1 

1656.94 

14*70 

1*5.1* 

1245280 

24675 

17271 

13297 

133579 

*182 

483480 

2318* 

20783 

1S6.16 

14586 

14388 

102371 


969971 

97721) 


"US* Money Market. 

trUSSBands- 


mClIlpertomtonce Ptft SA 5 

" The Good Eartn Find S 

COMGEST (33-1) 44 78 75 18 

/ CF.E. Lotas Fund * 

"Compesf Askt S 

"Congest Europe SF 


255*0200 

1675300 

16J44W 

1647496 

1211152 


CONCEPT FUND 
b WAM Global Hedge Fd_ 
b WAM Inti Bd Hedge Fd. 
CONCERTO LIMITED 

" NAV 14 Od 1994. 


160337 

136782 

122980 


1038.14 

989.04 


COWEH ASSET MANAGEMENT 

Cowan Enterprise Fund N.V. 
"OasSAShs S 


9298 


CHEDIS INVESTMENT FUNDS 

dCS Pont Inc DMA DM 

d CS PorH inc DM I 


105981 

1*2976 


d CS Parti Inc (Lire) AJB Lit 

d CS Partf Inc SFR A SF 


d CS Portf IncSFR B. 
d CSPortt IncUSSA. 


d CS Portf Inc US! B. 
d CSPortt Bal DM. 


d CS Portf Sal (Lire) A/B 

d C5 Portf BoJ SFR 

d CSPortt Bal USS. 


-Lit 

JF 


d CSPortt Growth DM DM 

d CS Portf Gro (Ure) a/b ut 

d CS Portf Growth SFR SF 

d CS Portf Growth USS S 


d CS Money Mvket Fd BEF-BF 

d CS Money Market Fd CS CS 

d CS Money Market Fd DM— DM 

d CS Money Market Fd FF FF 

d CS Money Market Fd Ecu— Ecu 
d CS Money Market FdHFl-FI 

d CS Money Market FdUl Lit 

d CS Money Market Fd Pta—Ptaj 
d CS Money Market Fd SF _5F 

d CS Money Market Fd $ S 

d CS Money Market Fd Yen-Y 

d C5 Monev Market Fd £ t 

d Credls Ea Fd Emera Mkts_S 

d Credls Ea Fd Lot Amer S 

d Credls Ea Fd Small Cap EurDM 
d Credls Ea Fd Small Can Ger DM 
d Credls Ea Fd Small Cap JanY 
d Credls Ea Fd Small Cop 
USA. 


999.10 

103X8* 

95485980 

946*9 

9829) 

95674 

98X44 

103170 

93*57200 

97*44 

101674 

100637 

91874*00 

93677 

101671 

581DZJW 

132670 

178109 

6TO.10 

141614 

122*55 

126039009 

12885200 

589574 

182276 

14*09*00 

239742 

129441 

113545 

86184 

96640 


d Credls Korea I 

d CredU SmlHWUd Coo SwltilSF 
d Credit Suisse Fits ln»l_ SF 


d CS Euro B rue OMASA DM 

d CS Euro Blue cups B DM 

d CS France Fund A FF 

d C5 France Fund B FF 


d CS Germany Fund A . 
d CS Germany Fund B . 
dCS Gold Mixes A 


-DM 

-DM 


101840 

98*40 

fflSy 

17*78 

21773 

25156 

86*76 

93655 

24*7* 

2*1*7 


INTERNATIONAL FUNDS 


d CS Gold Mines B. 
dCS Gold Valor. 


d CSHlspano Iberia Fd A — Pta 

d CS HtaPtmo Iberia Fd B Pta 

d CS Italy Fund A Lit 


d CS Italy FundB. 


Lit 


d CS Japan Megatrend SFR— SF 
d CS Japan Megatrend Yen -Y 

d CS Netherlands Fd A FL 

d CS Netherlands Fd B FL 


d CS North- American a. 
d CS Norm-Americon B. 
d CS Oeko-Prerec a „ 

d CS Qeko-Pretec B 

d CS Tiger Funo 


BARING INTL FD MANORS (IRELAND) LTD 
(SIB RECOGNIZED) 

IF5C HSE, Custom Hse DocksDuo. 447160*000 

w Hlgn Yield Bond ! 9.92 

"World Bond FFR FF 8*87 


if CS UK Fund A. 
d CS UK Fund B. 


d Energle ■ Volar, 
d Euroaa Valor. 


d PadHc - Valor. 


d Sdiweberaktfen. 


d Band volar D-Mark —DM 
d Bono valor Swi — 5F 


d Band Valor US - Dollar _ 
d Band Vidor Yen. 


if Sand Valor t Starting . 
d~ 


_SF 


d Convert Valor US - Odtar-S 

d Convert Valor c Sterling £ 

d Credit Swiss FOs Bds SF 

d Credls Bam) FdAusS A AS 

d Credls Bond FdAusSB AS 

d Credls Bond Fd Cart a Cl 

d Credls Bend Fd Cart B CS 

d Credls Band Fd DM A DM 

a credls Band Fd DM B dm 

d Credls Band Fd FF A FF 

d emus Band Fd FF B FF 

d Crodh Band Fd Lire A/B —Ut 

d Credls Bond Fd Pesetas A/BPIas 

d Credls Bond Fd USS A S 

d Credls Band Fd USS B 8 

d CredH Bona Fd ven a Y 

d Credls Bond Fd Yen B v 

Fd IA 


301.11 
18107 v 
2*83808 

2859500 
737*3*00 
24342600 
20.97 
2501500 
41079 
41835 
23*0* 
25231 
21774 
225.9S 
128*11 
109.99 
11538 
13080 
20538 
12775 
73*00 V 
r 11.91 
11085 
12344 
1079000 
10212 
16000 
199.93 
6*81 
8175 
23*«O0O 


23449600 

1856500 


d Credls Bond FdcB. 


d CS Capital DM 1997. 
dCS Capital DM 2000. 
d CS Capital Ecu 2000. 
d CS Capital FF : 


-DM 


-DM 


a CS Capitol SFR 2006. 
d CS Ecu Bond a. 


d CS Ecu Bond B_ 
tf CS euroaa Bomj 

d CS Euroaa I 


-Ecu 


d CS Fixed I DM 8% 1/96 DM 

d CS Fixed I Ecu 83/4% 1/9*. Ecu 

a CS Flxefl I SF 7% 1/** SF 

d CS FF Band A FF 

d CS FF Band B FF 

d CS Gulden Bond A FI 

d CS Gulden Band B FI 


d CS Prime Bond a. 

d CS Prime Bond B. 


JF 


-SF 


d CS Short-T. Band DM A DM 

d CS Short-T. Bona DM B DM 


d CS Short-T. Bond! A. 
d CS Short-T. Bona S B . 
d CS Swiss Franc I 

Franc I 


d CS 

a cs 


CREDIT AGRICOLE 

INDEX'S 

d Indexls USA/S&P 500. 
d Indexh Japan/NIkkel- 
d indexIsG Bret/FTSE- 


172787 
141 7 JO 
13*147 
131707 
152*21 
10624 
17144 
215.99 
J39.71 
10741 
10871 
104J7 
100349 
107*71 
10145 
15170 
8847 
125)4 
10134 
15651 
I0ZJ6 
14177 
36504 
29371 
10517 


d index is Fraiee/CAC40. 

d iflOexisCT 

MONAXIS 


-FF 

-FF 


190* 

176145 

1107 

13681 

11594 


d Court Terme USO- 


d Court Terme DEM. 
d Court Terme JPY _ 
d Court Terme GBP - 
d Court Term* FRF- 
d Court Terme ESP- 
d Court Terme ECU - 
MOSAIS 


-Ecu 


17.07 
39 J8 
22761? 
13J6 
13*.99 
301679 
26)1 


d Adlans Inn OluerslHees FF 

d Actions Nora- AmertaalnaJS 
tf AatawJopgnohr) — — Y 

tf Actions Anptaliei c 

d Actions Aitamondos -DM 


tf Art torn Frcnadsn. 
tf Acttans Esp. & Port. 
d Actions llallennes- 


-FF 

-Pin 

111 


tf Actions Basin Pad Roue— $ 

d Oblta Inn DlversHtees- FF 

tf ODIta Nora-Amarialnes — i 

d Obllg Jaaonobn. — -Y 

tf Obllg Anglahm ,t 


tf Obllg Altemonda. 
tf Obllg Francoises. 


a OHIg ESP. & Port. 


-FF 


d Ctalta Convert. Intern., 
tf Court Terme Ecu— 


-Pta 


-FF 

-Ecu 


12179 

2256 

18408* 

1125 

3679 

13481 

J«3748 

3168*90 

3874 

117.16 

1631 

229977 

1378 

3973 

14573 

265658 

14178 

2248 

1788 

14449 


1120.11 


a Court Tonne USD 

d Court Terme FRF FF 

CREDIT COMMERCIAL DE FRANCE 

tf Ehnces Mont talre FF 9134971 

tf Sam Achcash USD B S 

cursttor fund 

ff Cunitor East Aslan Eq S 

tf Cursltar Glbl Bd Oonart S 

d Cursltor Glbl Cwffi Sub-Fd J 
DARIER HENTSCH GROUP 
Tof 41-22 108*837 
d Hentsch Treasury Fd- — SF 
tf DH Mol or Market! Fund— SF 

tf DH Mandarin Portfolio SF 

d Samurai Portfolio SF 


10*74 

9588 

102.16 


DISCOUNT BANK GROUP 
" Euravul Equf ty. 


914167 

966571 

944745 

29*10 


.Ecu 


" N. America Eoultv. 

" Pac i fic Eoultv 

"Do/val Band. 


wMuhicun. Bond. 


"MuincurretKY Bond- 


-SF 


-FF 


I "Muiucurtency Band DM 


12C05 

145*43 

137*76 

114*62 

134688 

4690J1 

93536 


Quotation* supp Bed byhmde IteUd, and tewiaiiiftrod by IOCHOFAL PARIS [ToL 33-1 40 28 OB 0B). 
u-l Mat yato* quotation* an eapaCgd by flw Raid* fisted wWi Uin ueoption ot soma quotes baud on raw price*. ... 

Tho tnotoiiui symbols Indicate fraquoncy of quota! ions sugpGed: (d) ■ d*8yt (w) * wooklyi (b) - hlenonttlyi (fj fortnightly (mmry two WMksfc ,r)-roBoi»rt 9 :(t|.twfca»oak)r |mj- montH*. 


BIT INVESTMENT FFM 
d Concenlra + . 


d mil Rententand +. 


-DM 


-DM 


4601 

4409 


DRESDNER INTL MGMT SERVICES 
La Taueno House - IFSC ■ Dublin I 
□SB Tncrn tan Lai Am Sei Fd 
d Conquistador Fund ... 3 1172 


DUBIN S 3WIECA ASSET MANAGEMENT 
Tel : (809) 945 1400 Fax : (U9I 945 1486 

b Htahbrioge CatMtai Corn S 12277.*3 

mOnrlaak Performance Fd_S 2037.9* 

m Pacific Rim Op Fd s 10538 


EBC FUND MANAGERS (JCKCT) LTD 
1-3 Seale St SI Heller ; B534-36D1 
EBC TRADED CURRENCY FUND LTD 


tf Capital, 
tf income. 


INTERNATIONAL INCOME FUND 
tf Long Term 8 


2*360 

15471 


d Lana Term - OMK DM 

ERMITAGE LUX 053-4073 36) 
w Ermltoge inter Rata Steal _DM 
w Ermltoge SeU Fund S 


32JB29 

10787^9 


w Ermltoge Aslan Hedge Fd-S 
"ErmKose EuraHeage Fd_DM 
w Ermltoge Crosbv Asia Fd— s 

w Ermltaoe Amer Hdo Fd s 

w Ermltaoe Enter MJrri Fd— 8 
EUROPA FUNDS LIMITED 

tf American Eoultv Fund S 

tf American OPUan Fund S 

"Asian Equity Ft) S 


1009 

I4» 

OS 

1003 

1980 

7.9* 

1784 


" European Equity Fd- 


EYEREST CAPITAL (80?) 293 2200 
m Everest Coritet inti Ltd — s 
FAIRFIELD GREENWICH GROUP 

m Advanced Steategiea Ltd S 

w Fairfield iffll Lid s 


27026 

17511 

1255? 

12*35 


134 JO 


w Fairfield Sentry ud_ 


" FalrfkU Strategies Lid. 
ilectLta 


m Santev Select 

FIDELITY INTL INV. SERVICES (Llizt 


1*20797 

rtym 

34280 

BIOS 

5117333 


tf Discovery Fund. 


tf Far East Find . 


tf FkL Amer. Assets. 


d Fid. Amer. Values iv_ 
tf Frontier Fund. 


tf Global indFuna. 


tf Global Selection Fu 
tf New Europe Fund, 
tf Orient Fund. 


tf SoeckU Growth Fund, 
tf World Fund- 


2676 
6*59 
20001 
11057300 
3632 
1601 
2381 
1473 
1367* 
4380 
nej* 


FINMANAGEMENT SA-LogaM(4Ul/X373R) 


121200 


0.99 


w Delta Premium i 

FOKUS BANK AS. *73 428 SS5 
w Stanford InTI Grawtn Fd_S 
FOREIGN & COLONIAL EMERG MKTS LTD 
Tel : London 871 *281214 
d Argentinian invest Co Sicav! 

d Brazilian Invest Co Sicav s 

w Colombian Invest Co Sicav J 
d Glbl Em Mkts inv Co Sicav 8 

d Indian Invest Co Sicav S 

d Latin Amer Extra Yield Fd S 
d Latin America Income Co_S 
d Latin American invest Co— 5 
d Mexican invest Co sicav— S 

w Peruvkm Invest Co Sicav S 

FUND MARKETING GROUP (BID) 

P.O. Bax 3)01, Hamilton. Bermuda 
mFMG Global (30 San). 


27 J8 
4137 
1530 
1132 
I2M 
*0948 * 
9.71 
1Z4* 
4519 
1*10 


m FMG N. Amer. (3D Sep) 

mFMG Europe (38 Seel 

mFMG EMG MKT (30 Sep) . 
m FMG Q (X Sep) S 


mFMG Fixed (30 Seo) 

FX CONCEPTS (BERMUDA) LTD 
w Concepts Fare* Fund— S 
GAIA CURRENCY FUNDS 
"Gala Hedge il. s 


13a* 

1050 

16*8 

12.90 

9.47 

1614 


900 


w Goto Hedge III. 
C GAIA Fx. 


mGola Guaranteed CL 1 i 

mGala Guaranteed Cl. il S 

GAR T MO RE INDOSUEZ FUNDS 20/10/94 
Tel : (352) 4* 54 24 470 
Fax: (352) 4*54 23 
BOND PORTFOLIOS 


13132 

1*71 

12201 

8*95 

643)5 


d Dtverbond— Dls 253_ 

d Donor Band Dls 2.1*- 

d European Bd Dts 1.12_ 

d French Franc— Dis 9JS. 
d Global BamL— DM610 - 
EQUITY PORTFOLIOS 
d . 


d Asia Padflc. 


d Continental Europe— 
d Devetaoing Markets . 
d France— 


d Internet lenol- 
d Jcxxxi. 


d North America. 
d Switzerland. 


tf United Kingdom. 


RESERVE FUNDS 

tf DEM Dls 3J7S. 

tf Dollar-—. -Dn 2119- 

d French Franc. 

a YenReserve- 


J3M 

601 

0F 

301 

8 

204 

Ecu 

1.2B 

FF 

12.75 

A 

252 

S 

9J3 

A 

502 

.ECU 

102 

! 

48* 

-FF 

1084 

.DM 

SJ3 

A 

7M 

Y 

770M 

A 

287 

AF 

304 

-t 

151 

.DM 

6.410 

A 

? 1*3 

.FF 

1206 

-Y 

789.1 


GEFINOR FUNDS 
London: 71 -499 4) 7lJyenevo:4l-22 735 55 X 

w 5coitbh wand Fund 6 482JS13 

w Stale SI. American S 348 *7 

GENESEE FUND Lid 

w IA) Genesee Eagle— _J 11*79 

GLOBAL ASSET MANAGEMENT 
OFFSHORE FUNDS 
11 Alhof SI .Douglas,! of Man 4**2**24U7 


"GAMe . 

w GAM Arbitrage 
"GAM ASEAN 


" GAM Austeoll 
w GAM Boston 


"GAM Franc-vai. 
"GAMGAMCO 



"GAM Combined 


w GAM Cross-Market 
w GAM European 
"GAM France 


AS ‘Australian OoBara: AS - Austrian Schillings; BF- _. 
Lit - Rattan Ura: LF- Luxembourg Francs; pevve; Ptas 
Not Communicated; o - New. S ■ suspended: S/S - Stax 
e - misquoted earlier; x-noi registered witti regutehxy 


"GAM High Yield 
wGAMEosl Aslo 


"GAM Japan. 


» GAM Money Mk Is USS- 
d Do Sterling. 


d Da Swiss Frane. 


-SF 


d Do Deubrttofnark DM 

d Do Yen. 


"GAM Allocated Mlll-Fd % 

w GAM Emera Mkls Mitl-Fd .1 

" GAM Mill- Euraoe USS s 

w GAM MM-Eurooe DM DM 

w GAM Ml 1 1 -Global US! S 

w GAM MIM-US S 

" GAM Trading DM DM 


47109 
40889 
4*170 
n04 
31422 
122J4 
1 1217 
*4-82 
1*74.92 
247 J9 
215-28 
15*05 
75*84 
B82JJ7 
10120 
101.40 
101.10 
1*132 
1 005000 
16103 
184 J8 
I23J9 
124 J7 
17294 


" GAM Tracing USS. 
w GAM Overseas. 


wGAM Pad lie. 


"GAM Relative value. 
wGAM Sefectian. 


" GAM Slngapare/Motoysia _S 

" GAM SFSaedat Bond SF 

" GAM Tvche 5 


" GAMut investments . 
"GAM Value. 


"GAMWiutetnarn. 

"GAM Worldwide. 


"GAM Band USS Ord 

"GAM Bond uSs Soeclal. 
"GAM Bond SF. 


121.73 

«*9.4* 

1*698 

*7X44 

10778 

*36T 

80X39 

12887 

3S7A? 

217J8 

8761* 

12242 

>89.15 

*7664 

14*93 


" GAM Bond Yen. 
"GAM Band I 
"Gam Band r. 


"Gam csoedai Bond. 
"GAM Universal USS_ 
" GSAM Comooslte. 


w Global 5irnirgjc A. 
" Global SiniteBtc B. 


" European Strategic A . 
" European Strategic B. 
" Trading Strategic A. 
w Trading Strategic B. 


10623 

14*5100 

11888 

199.10 

1463* 

14647 

33110 

10084 

**.»* 

*684 

9688 

100.77 

101.74 

11176 

11308 


w Emera mms Strategic 

" Emerg Mils Strategic B 

SWISS REGISTE RED FUNDS 41-1-422 3x24 
MuMfboch s trosse 173XH 8B3*Zurlcn 

d GAM i C hi Europe SF *0.94 

d GAM (CH) Mondial SF 16103 

d GAM (CHI Podfic SF 28*47 


SEC REGISTERED FUNDS 
135 East 57m StreetJIY 100K212-888-4200 

" GAM Euraoe s *111 

" GAM Global - . . c 1408S 

w QAM International s »184 


"GAM Japan Capital _ 
" GAM North America. 
wGAM Poc lie Basin. 


IRISH REGISTERED UCITS 
69*6 Lower Mounl StJJubUn 2853- 1 -67*0*0 


*115 

1*4.44 


" GAM Asia Inc. 


" GAM Europe dec. 


w GAM Orient Acc. 


-Y 

-DM 


"GAM Tokyo Acc. 


-DM 


-DM 


w GAM Total Bond DM Acc_DM 

" GAM Universal DM Acs DM 

GLOBAL CAPITAL MANAGEMENT LTD 
Bentmdajiso?) 295-uoo Fax: 18091 395*190 
JWH GLOBAL STRATEGIES LTD 

" CA) Original Investment s 

"(C) Financial G Metals S 

w (D) Global Diversified ! 

"(F) G7 Currency s 


10005 

178J7 

15407 

17375 

10548 

17167 


" (HI Yen Flnandat. 


w ( J) Olversltiea Rbk Adi S 

"(K) Inti Currency & Bond— 5 

" (LI Glooal Ftnancmi i 

"JWH WORLDWIDE FOND4 
G hSS?V F “I“ HES « OPTIONS SICAV 


8224 

14174 

10*23 

89.77 

15*04 

11681 

11508 

TJ4* 

1726 


mFFM int Bd Prpgr-CHF a JF 
GOLDMAN 5A CHS 

» GS Adi Role Mart. Fd II S 

mGS Global Currency s 

" GS World Bond Fund 5 


9892 


»GS World Income Fund 

GS EQUITY FUNDS 5ICAV 

wGS Euro Small cap Port DM 

"GS Global Eaully S 


*.70 

12*176 

1616 

*29 


"GS US Can Growth Port 
" GS US Small Coo Port— i 
"GS Asia Portfolio S 


95.16 

1102 

1077 

974 

1151 


116*18 


09570 

67842 

693r 


GOTTEX FUND MANAGEMENT 

"G.Swop Funo -Ecu 

GRANITE CAPITAL INTL GROUP 

" Granite Cadtal Equity S 

" Granite Capital Mortgage _S 
" Granite Global Debi. LM s 

GT ASSET MANAGEMENT (IRELAND) LTD 
Tel : 144) 71 -710 45 *7 

tf GT AaranFdASnarn 5 

tf GT Asean Fd 8 Sham S 

tf GT Asia Fund A Snares— 8 
tf GT Aslo Fund B Shares—! 
tf GT Aston small Cons A Sti8 
d GT Aston Small Comp 8 SilS 
d GT AurfiallD Fd A Stares— 8 
tf GT Australia Fd B Shares— S 

d GTAustr. Small Co ASH s 

tf GT Austr. small Co E 5n s 

tf GT Berrv Japan Fd A Sh__S 

tf GT Berry Jcaxm Fd 8 Sh, S 

tf GT Bond Fd A Share*— 5 

tf GT Bond Fd B Stares 5 

tf GT Blo & AP Sciences A 5hj 
tf GT Bta&AoSdaicesBShJ 

tf gt Donor Funo a Sh s 

tf GT Dollar Fund BSh 5 

d GT Emerging Mkts A Sh S 

tf GT Emerging Mkts B Sh 1 

tf GT Em MM Smalt Co A Sh j 
tf GT Em MM Small Co B Sh J 
"GT Euro Small Co Fa A Sh8 
"GT Euro Small Co Fd B Sh J 
tf GTHon# Kong FdA Sharess 
tf GT Kona Kano Fd 8 Shores! 
tf GT HWBIW Pathfinder A Sh! 
tf GT Honshu Pathfinder B Sh! 

" GT Jop OTC Stacks Fd A Sh! 

" GT Jap OTC Stacks Fd 8 Sh! 
w GT Jap Small Ca Fd A Sti_l 

" GT Jap Small Co Fd B Sh S 

" GT Latin America A S 

wGT Latin America B S 

a GTSteategicBdFdASh—S 
tf GT Strategic Bd Fd B Sh— S 
<r GT Telecomm. Fd A Shorn! 
tf GT T ele c omm . Fd B Shares! 


8622 

6705 

3651 

2676 

19.17 

1*77 

328* 

£88 

2612 

2478 

23.73 

21*2 

1657 

16*6 

2641 

204* 

JL& 

3611 

22.13 

2139 

16M 

1671 

*272 

4305 

7142* 

7*12- 

1151 

1344 

1161 

1372 

1574 

1587 

2624 

7628 

66? 

670 

1622 

1640 


r GT Technology Fund A Si-S *106 

r GT Technology Fund B Sh_* *186 

GT MANAGEMENT PLC (4* 71 710 45 <71 
ff G.T. Btoiecn/Heoltn Fund-! 2024 

tf G.T. Deutschland Fund S 1209 

tf G.T. Europe Fund 1 49.90 

* G T. GtobQl small Ca Fa S 3615 

d G.T. investment Fund S 2781 

" G.T. Korea Fund— 5 ill 

" G.T. Newtr Ind Cognlr Fd_i 45.91 

wGT US Small Cemnamcs _ S 76.18 


GUERN5ET CAPITAL MANAGEMENT LTD 

/ GCM Global Sei.Ea. S 10704 

/ GCM USS Special S 10MJH 

GUINNESS F LIGHT FD MNGRS (GftSOr) LM 
GUINNESS FLIGHT GLBL STRATEGY FD 


a Monoged Currency 

a Global Bone. 


d Global High income Stood _0 
ff Gilt & c Bono C 


O Euro Hlgn Inc Bono. 
d Global Equity. 



tf American Blue Oita, 
tf Japan and Paclf 
d UK. 


d European 


3981 

3*17 

212 * 

1021 

3027 

9517 

2802 

13587 

2622 

12305 


GUINNESS FLIGHT INT’L ACCUM FD 

tf Deutschemork Money DM 96720 

ff US Dollar Money s 39044 

d US Dollar Hlgn Ya Bond 5 34.93 

d loti Boianceo Grin 5 1701 

HASENBICHLER ASSET MANGT GeunbH. 

" Hmeablchlor Cam AG - 5 642300 

* Hosenbtahter Cam inc ! 11909 

w Hesenblchler Dh> ! I3189 

wtFFT, 8 145*80 


HDF FINANCE. Tel(33-l)4C6*U6Pax 407*6455 


wMondlnvetf Europe FF 

w Mondlnve*! Crolnance — FF 
w Aierttfinve$/ (tap Inltaf- — ,FF 
w MandirtveB Emera GrowtnFF 
Montftnvejl Furores— —FF 


HEPTAGON FUND NY (5999-615555) 

I Heptagon QLBFvnd—S 

C Heptagon CM D Fund 5 

HERMES ASSET MANAGEMENT LTD 
Bermuda: (809)295 400. Lux: (352M04 64 47 
Final Prices 

m H e r me* European Fund Ecu 

in Hermes North Amerian Fd! 
m Hermes Asian Fund S 


125771 

135669 

1)99,90 

1335.14 

116604 


8642 

6*78 


m Hermes Emerg Mkts Fund-S 

m Hermes Strategies Fund S 

m Hermes Neutral Fund— S 
m Hermes Global Fund S 


m Hermes Bona Fund. 


m Hermes Sterling Fd. 
m Hermes Gold Fund. 


333J1 

30280 

18691 

11603 

68695 

11611 

*4781 

123190 

10903 

47307 


11.15 


HUTZLER BROKERAGE 

m Pegasus PJ>. Portfolio S 

IF DC SJL GROUP, Landoqjax [44-71)435 9173 

"fFDC Japan Fund Y 239*100 

" Interband Fund Ecu 1062103 

w Korea Dynamic Fund S 235105 

w Malacca Dvnomlc Fund s 792*61 

wMoroc Invesl menf Fund FF 958*29 


INCOME PARTNERS (ASIA) LIMITED 

" Aslan Fixed Income Fd S 10089 

INTERINVEST (BERMUDA) LTD 
C/o Bank *1 Bermuda, Tel : 80*27*000 
m Hedge Hqq 6 Conserve Fd_0 981 

INTERNATIONAL ASSETS FUND 
2. Bd Royal. L-2449 Luxembourg 
" Europe Sod E Ecu 9025 


INVE5CO INTL LTD, POB 271, Jersey 
Tel: 44 534 73114 

d Maximum income Fund c 

d Sterling Mngd Ptfl t 

d Pioneer Markets E 

d GIOOqI Bond— S 


69400' 

20970 

60470 


tf oiusan Global Strategy. 

d Asia Suoer Growth 

tf Nippon WarraM Fund— 
tf Asia Tiger Worranf i 


tf European woman Fund, 
tf Gtd N.W.T9**. 


d Global Leisure- 


PREMIER SELECT FUND5 
d American Growth. 


177*00 

77JS00 

2.1100 

52000 

22100 

*.9000 

50100 


d American Enterprise. 

tf Asia Tiger Growth 

tf Dollar Reserve. 


tf European Growth. 


d European Enterprise— ! 
d Global Emerging Markefx_s 
d Global Growth S 


d Nippon Enterprise. 

tf Nippon Growln 

tf Uk Grawth- 


d Sterling Reserve . 


60500 

68900 

127200 

58300 

50800 

6*100 

100400 

5.9300 

61100 

5.4100 

cymn 


tf Greater China Opes. 


70400 


IRISH LIFE INTL LM, (tax) 30-V7M 1922 


ff International Cautious. 

d Interna'ianai Balanced S 

tf Internal tonal Grawtn 5 

1TALFORTUHE INTI- FUND5 
«* Class A (Aggr. Growth itaUS 
" Class B (Global Eautrvi — 5 

* Class C (Global Bondi ! 

" Class D (Ecu Bond) Ecu 


1012 

1.021 

1022 


7818900 

1284 

11.15 

1071 


JARDINE FLEMING. GPQ Baa 11448 Hg Kg 


tf JF ASEAN TruN. 


d JF Far East Wrnl Tr_ 
d JF Global Canv. Tr_ 


tf JF Hang Kang Trust, 
tf JF Japan 5m. Ca Tr— 
d JF Jinan Trust. 


tf JF Malaysia Trust, 
tf JFFocillc Int Tr.. 


a JF Thailand Trust ! 

JOHN GOVETT MANT (IGJU) LTD 
Tel : 44 624 - *2 94 20 

"Covet! Mon. Futures ( 

wSovetr Man. Ful. USS S 

w Govetf 3 Gear. Curr S 


*283 

2100 

1407 

1787 

4*63200 

1173000 

2*13 

1200 

4582 


w Govett S GIW Bal.Hdge .5 

JULIUS BAER GROUP 

d Boerbond— — SF 

tf ConOOr SF 


118) 

7.98 

1181 

100314 


tf Eauiboer America- 


d Equlbaer Europe. 

tf SFR BAER 

tf 5 lack bar 

d Swissbar . 


-SF 


-SF 

-SF 


tf Lknriboer- 


d Europe Band Fund, 
d Dollar Band Fund. 


d Austro Band Fund, 
d Swiss Band Fund— 
d DM Band Fund. 


.IF 

_S 

-Ecu 

-I 

-AS 


-SF 


tf Convert Bond Fund. 
d Global Band Fund— . 


-DM 

SF 


d Euro Slack Fund 
a US Stack Fund— 


-DM 

-Ecu 


d Paallc Slock Fund. 
d Swiss Stack Fund. 


tf Special Swiss Stock— 8F 

tf Japan Slock Fund T 

d German Slock I 


d Korean Stack Fund . 
d Swiss Franc Cash, 
d dm Cosh Fund. 


d ECU Cash Fund. 


d Sterling Cash Fund. 


d Donor Cash Fgnfl. 


d French Franc Cosh FF 

KEY ASSET MANAGEMENT INC 

m Key Asia Holdings s 

m Key Giobol Hedge S 


83584 

1689.78 

243974 

155607 

10800* 

227375 

293810 

22*400 

14540 

12910 

126200 

11*00 

117.90 
17.W 
1600 
12*80 
13670 
141 .PQ 
15300 

183.90 
VM0.00 

1 01*0 
•900 
122000 
127600 
129200 
112000 
105700 
113000 


m Key Hedge Fund I 

K1 PACIFIC ASSET MANAGEMENT INC 


10110 

25200 

I50J4 


roKI Aslo Pociflc Fd I 
KIDDER. PEABODY 
b Chesapeake Fund LM. 
0 ill Fund Ltd. 


1203 


b InTI Guaranteed Fund. 
b Stonehenge Ltd . 


2MS83 

114300 

137216 

179987 


LEHMAN BROTHERS 38/10/94 
tf Aston Dragon Port NV < 
d Aslan Dragon Port NVB. 

d Global Advisors 1 1 NV a s 

d Global Advisors n NVB I 

d Giobol Advisors Port NV A_S 
d Global Advisors Port NV BJ 
a Lehman Cur Adv. A/B— 5 
d Natural Resources NV A — S 
d Natural Resources NV B — s 
d Premier Futures Adv A/ 8 -5 
LIPPO INVESTMENTS 
J4/F Lippo Tower Contra. 89 ftaeen i woy X K 
Tel 18521 867 6888 Fax (852) 596 0388 

w Java Fund x *.*3 

"Asean Fixed Inc Fd S 883 

" IDP Money Market Fd 1 12*3 

w USD Akonev Martet Fd ! 1085 

w Indonesian Growth Fd s 2*1? 

"Aslan Growth Fund S SJ* 

w Aslan Worrwii Fund S 488 


1642 

1000 

1684 

1633 

1659 

1651 

7M 

9.9| 

9.96 

*.93 


LLOYD GEORGE MNGMT (B3) 845 4433 
" Antenna Fund— —! 1682 

w LG Aslan Smoiier Cos Fd_! 147712 

w LG Indio Fund Ltd S 17.18 

"LG Japan Fd S 1005 

" LG Korea Fd Pic —8 1 0.97 


LLOYDS BANK INTL (BAHAMAS) LM 
" Lloyds Americas Porltollo-S 
LOMBARD, ODIER S C1E • GROUP 
OBLIFLEX LTD (Cl) 
d Mufhcurreno S 


974 


d Dollar Medium Term. 

d Dollar Long Term 

tf J a panese yen. 


d Pound Sterling _ 
d Deutsche Mark, 
d Dutch Florin. 


d HY Euro Currencies. 
d Swiss Franc. 


-FI 

-Ecu 

-SF 


d US Dollar Short Term. 

d HY Euro Curr DIvM Pay Ecu 

d Swiss Multicurrency __SF 

d Euroaean Currency Ecu 

d Be to ton Franc BF 

d Convertible I 


d French Fratc. 


d Swiss Mulli-CHvloend SF 

d Swiss Front Short-Term 5F 

d Conadton Doltar CS 

d Dutch Florin Mull I FI 

d Swiss Franc Dlvkt Poy— .5F 


d CAD MvltiCuT. Dry. 


d Medllerranetn Curr. 
tf Convertibles. 


_CS 


5F 

-SF 


tf Deutschmark Shari Term— DM 
MAGNUM FUNDS Isle of Mem 
Tel 46624 *88 320 Fax 44424 6a 334 
"Magnum Fund —J 


3612 

2489 

1987 

4*3700 

2688 

!7>4 

1103 

1586 

1003 

1103 

1009 

1603 

2189 

13602 

1496 

1551* 

984 

10621 

1183 

1*82 

1037 

1202 

1634 

•09 

1605 


" Magnum Mam-Fund 
" Magnum Emera Growth Fd! 
w MAgnum Aggres. Grwih Fd! 
MALABAR CAP MGMT (Bermuda) LTD 


9115 

92£4 

*092 

94.13 


m Malabar mn Fund- 


1887 


MAN INTERNATIONAL FUTURES 
m Mint Limited - Ordinary — S 

mMlnr Limited ■ i nco me 5 

mMlnl GM LM - Soec Issue— 8 

ffl Mint Gld Ud- Nov 2062 S 

mMJnt Gtd Ltd ■ Dec 1994 S 

m Mint Gld Ltd - Aug 1995 S 

mMint 5 p Re? LM (BNP) S 

mMlnl Gtd Currencies S 

mMlnl Gla Currencies 2001 S 

mMlnl GGL Fin 2903 3 

m Mint Plus GM 20B1__ S 


m Athena Gld Futures-— 

m Amena Gld C u rrencies S 

m Athena Gtd Finonaols Cao8 
m Athena Gtd Flnandals Inc— 5 

mAHL Capital Mkts Fd. 5 

m AHL Commodity Funo 5 

m ahl Currency Fund 5 

mAHL Real Time Trod Fd ! 

m AHL Gld Real TimeTrd 5 

mAHL Gtd Cod Mark Lid ! 

m AHL GW Commodities LMJ 
mMop Guaromeed 1996 Ltd—! 
mMe* Leveraged Heeov. Lid 8 

mkWP Guaratleed TOCO 3 

m MAP Gtd 2001. 


3875 

1101 

2526 

20.18 

1701 

14—5 

9589 

68) 

670 

504 

9.17 
1281 
404 
1083 
1008 
1344 

11.17 
706 

M2 

641 

1009 

?.*5 

881 

1656 

•J4 

989 


MARITIME MANAGEMENT LTD 
73 Front St Hamilton Bermuda (889)392 *789 
w McriMme Mll-Sedor I Ltd-! 100608 

w Merltime Glbl Beta Serlcs-S BJ2J4 

"Maritime Glbl Della Series 8 793.98 

MATTHEWS INTERNATIONAL MQT 
EMERGING A5IAN STRATEGIES FUND 

m Class ft- ! 11623 

d Class B ■ 5 11687 


PACIFIC CONV STRATEGIES FD LTD 
mOassA S *785 


a Class B. 


MAVERICK [CavmOfl),(889) 949-7942 
m Maverick Fimd s 15L*9B2 


MCKINLEY CAPITAL PARTNERS. LTD 

rnTTw Corsair Fund Ud i 7773 

mine Dauntless FC Lid 5 11170 

MEESPIERSON 

Ronn 55. 10l2kk, Amsieroom rro-srn 1681 


» Asia Poc. Grewtn Fd N.v.. 

"Asian Capital Hpldirgs S 

w Aslan Seteaion Fd N v fi 

"DP Amer. Growm Fd N.V. _5 

w EMS Ofhbore Fd tf.V FI 

w Eu/Ue Growth Fund N.V.-rl 

w jooan Diversified p und s 

" Leveraged Can Hold 5 

MERRILL LYNCH 

d Dollar Assets Portfolio S 

d Prime Rote Portfolio 5 

MERRILL LYNCH SHGRT-TEPM 
WORLD INCOME PORTFOLIO 

d Class A i 

a 0055 B S 


3903 

42 24 
10200 
362? 
1O10J 
6187 
528* 
6276 


100 

laoa 


MERRILL LYNCH 
GLOBAL CURRENCY BOND SERIES 
AUSTRALIAN DOLLAR PORTFOLIO 

d Cotrarr A AS 

d Category 0. 


&n 

079 


CANADIAN DOLLAR PORTFOLIO 
a Cciegorv a. . CS 


1783 

1743 


ff Category E_ 


-O 


CORPORATE HIGH INCOME PTFL 

ff Class A- 1 S 

d Class A-?. * 

ff Class B -1 8 

d Class B-2 ! 


1431 

1182 


DEUTSCHE MARK PORTFOLIO 
ff Category A. - ... DM 


903 

985 

*03 

982 


ff Category B. 


-DM 


13.10 

1274 


EUROPEAN BOND PORTFOLIO IDMj 

d Class A-l ! 18.78 

d Class A-2 S 15J4 

tfCta»&-l 3 1174 

d Clou B-2 & 15.10 


EUROPEAN BONO PORTFOLIO (USS) 


d Class A-l. 
d Class A-2- 


_DM 


ff CtassB-1. 
d Class B-2- 


POUND STERLING PORTFOLIO 
d Category A— C 


981 

1085 

*81 

1006 


ff Category B- 


U5 DOLLAR PORTFOLIO 
tf Categaiy A_ 


15*7 

1505 


ff Category B_ 


YEN PORTFOLIO 
ff Cotegorv A- 


1381 

1119 


ff Category B_ 


MULTI CUPRENCY BOND PTFL 

rf Class A- I 

tf Class B. 


1281 

1246 


US FEDERAL SECURITIES PTFL 

tf CJOSSA S 

tf Class B S 


2286 

21.76 


MERRILL LYNCH 
EOUITY/ CONVERTIBLE 5ERIES 
BASIC VALUE PORTFOLIO 

tf Claw A S 

ff Class B 5 


9.12 

*01 


C014VERTIBLE SECURITIES PTFL 

d Oats A S 

d Class B S 


1S86 

1*64 


GLOBAL ALLOCATION PTFL (USS) 

d Class A S 

d Class B S 


1*10 

1344 


GLOBAL EQUITY PORTFOLIO 

d Class A S 

d Claw B S 


1001 

1631 


EURO EOUITY PORTFOLIO 
d Class A . 
d Class B. 


1662 

».*? 


LATIN AMERICA PORTFOLIO 

tf Class A 5 

tf Class B- s 


1473 

1*17 


PACIFIC EQUITY PORTFOLIO 

d Class A ! 

a Class B . 


1SJA 

17.94 


980 

*7* 


WORLD NATURAL RESOURCES PTFL 

d Ocss A S 12.14 

dCJaSsB S 1100 


DRAGON PORTFOLIO 
d Class A. 
ff Class B. 


1785 

1704 


MERRILL LYNCH EMERGING MARKETS 

d Clan * ! Ut: 

a Class B S 12.12 


MERRILL LYNCH INC S PORTFOLIO 

tf ClanA S 

ff Class B S 

tf Clow C 5 


MERRILL LYNCH MEXICAN INC PORT 

tf Mexican inc! Ptfl CI A 5 975 

d Mexican Inc S PHI Cl B S *.rs 

d Mexican me Peso PHI Cl A0 B»J 

a Mexican tnc Peso Pill CJ B 5 B.*3 

MOMENTUM ASSET MANAGEMENT 
"Momenium Novell ier Pert _S 9788 

m Momentum Rainbow Fa 5 11402 

m Momentum Rx R R.U S 7&.4S 

m Momenium Steel master S 159.92 


MORVAL VOMWILLER ASSET MGT Co 


w Wilier Japan . 


w wilier South East Asia. 
"Wilier Telecom 5 


w Wlllertunds -WHNrtentf Cop! 
w Wilier hutch- Willerbond E ur Ecu 
» Wlllertunds- Wilier ea Eut—Ecu 
"Wtitrrtunas Wlilerra Italy -Lit 
" Wlllertunds WHIerea NA — S 
MULTIMANAGER N.V. 

m World Bond Find Ecu 

m European Equities Ecu 

m Japanese Eoutnes r 

m Emerging Markels 5 


21900 

I7.*0 

1633 

1573 

1237 

1302 

1713300 

11.10 


mCoSh Enhancemenl. 

m Arbi (rage— 

mHettae- 


1282 

1*4* 

856 

23L56 

*00 

*.*] 

I20» 


NICHOLAS-APPLEGATE CAPITAL MGT 
d NASlrateglcOaportuniiwsS I91J0 

w NA Flexible Growth Fd J I4TJ4 

" NA Hedge Fund 5 mi* 


NOMURA INTL. (HONG KONG) LTD 
d Nomura Jakarta Fund— — ,1 
OBEY ASSET MANAGEMENT LTD 
71 Grosvermr SI.LtfnWIX *FE0*7)-*99 2*n 


112) 


d Odev Eur ocean _ 
"Odev Euroaean. 


-DM 


"Odev Euros Growth Inc DM 

w Odev Eur DO Growth Acc DM 

* Odev Euro Grid sier Inc l 

w Odev Euro Grin Slrr acc _t 
OLYMPIA CAPITAL INTL. INC 
Williams House. Hamilton HM1 1. Bermuda 
Tel : 809 297-1018 For : 809 2*52305 

" Finsbury Group 5 

"Olympia Securlte SF -5F 

w Dlvmelo Stars Emera Mkls! 
w Winch. Eastern Dragon $ 

* Winch. Frontier ! 


121.18 
12*75 
13578 
13628 
5625 
56 45 


* Which. Fut. CHymalo Star ! 

" Winch. Gl Sec Inc PI (A) 5 

w Winch. Gl Sec Inc PI 1C) — S 
m winch. Global Keallhcore-Eai 
"Winch. Hkta Inll Madison _ Ecu 
" Which. Htog inn Ser D. . ..Ecu 

" Winch. Hktg Inn Ser F Ecu 

" winch. Hkta Olv Star Hedge! 
"Winch. Reser. Multi Gv BCLS 
> Winchester Thailand S 


OPPENHEIMER I CO. INC Fdl 
b Arbitrage International —8 
a Emera Mels mn u ! 


b Inti Horizon Fund li 

OPTKJEST LUXEMBOURG 
b Opttgen Gtu Fd-Flxed inc-DM 
0 Obliges I Glbl Fd-Gcn Sub F.DM 
OPTIMA FUND MANAGEMENT 
73 Front St. HomlltoftSertnuda 8092950651 


"Optima Emerald Fd LM — S 
"Otkimo Fund 5 


" Optima Fuhhes Fund. 

" Optima Global Fund —5 

w Optima Perlcula Fd Lid S 

"Optima Short Fund.... 5 


" The Platinum FdLta. _ _ 
ORBITEX GROUP OF FUNDS 
a Orbltex Asia Poc Fd.,. . j 
tf Orblfex Com & IrttaTecn Fd! 
tf Orbltex Growth Fd — 8 


a Orbltex Heatta I Envlr Fd-S 
d Orbltex Jooon Small Cap Fd! 

tf Orbltex Natural Res Fd CS 

FACTUAL 

tf Eternity Fund Lta S 

d Infinity Fund Lto. S 

tf Novcstor Fund S 


tf Star High Yield Fd LM. 
PARIBAS-GROUP 
"Luxor 5 


3759*42 

5752S37 

11*7345 

1578042 


d Parvest USA B. 


ff Parvest Japan B. 


rf Porvesi Asia Poc it I 
ff Porvesi Europe B. 


ff Parvest Holland B_ 
ff P a r ve s t France B. 


ff Pgrvest Germany B_ 


ff Parvest OUHMiarB. 
ff Parvest Obll -DM B_ 


ff Parvest Obll- Yen B. 


d Parvest ObU-Gutden B_ 
d Parvest Qbil-Frcmc B_ 

d Porvesi OMI -Star B 

ff Parvest Dbll- Ecu B_ 


-Y 

-FI 

-FF 


d Parvest Obll-Belux B . 
d Parvest S-T Dollar B_ 


d Parvest S-T Ewape B- 
d Parvest S-T DEM B — 
rf Parvest S-T FRF B. 


.Ecu 

-DM 


d Parvest S-T Set Plus B- 
ff Parvest Globed B- 


.FF 

3F 


ff Parvest Ini Band B. 


d Parvest Obit-uroB. 


ff Parvest Int Equtties B. 

ff Parvest UK B. 


ff Parvest USD PtosB. 
d Parvest S-T OIF B. 


-SF 


CS 

DKK 


d Parvest OMI-Ccrada 
d Parvest OMLDKK B. 

PERMAL GROUP 

/ Emerging Mkts HldBS 5 

f EuraMir (Ecu) Ltd... — Ecu 

f FX. RncexSote 8 Futures— S 
t Growth N.V S 


92692 


f investment (flags. n.v_ 

/ Medio 6 Communi cations—! 
/ NosartLtd ! 


PICTET ft CIE- GROUP 
d Amerosec- 


w P.C-F UK vai (Lin) c 

w P.CF Germavol I Lux ) DM 

w P.C-F Noramvtd (Lux) S 

w p.tF valtoer (Lux) Ptas 

w P.CF Volltallo (Lifk) LH 

w P£-F Valtrance (Luv) ff 

"P.U.F. VolbOnd SFR (Lux) -SF 
"P.U.F. vglband USD (Lux) J 
w P.U.F. Vatmnd Ecu (Lux) -Ecu 
"P.U.F.Votagnd FRF (Luxl.FF 
"P.U.F. Vaibend GBP (Lv«i-C 
w P.U.F. VcJbona DEM (Lux) DM 

"P.U.F. US S Bd PHI (Lux) 5 

" P.U.F. Modd Fd— Ecu 

" P.u^. Plane .sf 


w P.U.T. Emerg Mkts (Lm) 

" PJJ.T. Eur. Opoort ( Lux ) —Ecu 
b P.U.T. Global value (Lux) -Ecu 
w P.U.T. Euroval (Lux) , Ecu 
a Pietet vatsotsse ICHI. — — SF 

mlnll Smell Co® KOMI 5 

PREMIER INVESTMENT FUNDS LTD 
c/o P.O. bd< 1106 Grand Cayman 
Fax: (809) 9460*93 
m Premier US Eoultv Fund — 5 
m Premier Inti Eg Fund. ■■ 3 
m Premier Soueretpi Bd Fd_s 

m Premier Gtabal Bd Fd S 

m Premier Total Return Fd— ! 

PRIVATE ASSET MOT QAM FUND INC 
Guernsey .'Tel: 10044 48ll 7234S Fax:723M8 


120643 

127*89 

75306 

1474.90 

98709 


" Private Asset Mot Gam Fd S 
PUTNAM 

d Emerghta Hlth Sc. Trust — 5 
w Putnam Em. Into Sc. Trusts 
a Purnctn Giob. Hteh Growths 
a Putnam H toh Inc-CNMA FtSS 
ff Puliwn Inf! Fund ! 


106*2 


3687 

4289 

1727 

789 

1587 


QUANTUM GROUP OF FUNDS 
"Aslan Davetocment S 


" Emerging Growth Fd N.V.. 


10301 

188.91 


" Quantum Fund N.V. J 

" Quantum industrial S 

w Quantum Realty Trust S 

" Ouanlum UK Realty Fund_E 

* QuOMf inti Fund N.V S 

"Quota Fund n.v_ 


1711107 

10706 

13500 

10629 

IS1.43 

14654 


REGENT FUND MANAGEMENT LTD 


806. 

804 

806 


22106 

16201 

98671 

178! 

78888 

16124 

6*2 

*10 

1039.90 

152204 

178»2t 

178615 

1OU07 

1612 

3133 


10597 

10602 

*979 


153748 

179.191 


1651 

1702 

17.7* 

1*26 

1603 

6.95 

1679 


l«W1 

50573 

78780 

5*886 

*934) 

1*1220 


238? 

570600 

7121 

2401 

J3547 

120089 

7*509 

17*71 

37193 

1675600 

32005 

97288 

7905 

13709 

853700 

12164 

131*2 

Z7801 

92670 

534200 

742900 

2115 

52118700 

111.19 

8*27 

9683 

255.94 


93163 

156907 

97602 

272668 

131200 

107108 


5324 

6*03 

912J 

2806* 

*65400 

10495600 

11761* 

21103 

23101 

17928 

93*57 

9526 

28672 

9928 

11693 

47194 

211*3 

14174 

14304 

219.11 

6190S 

4*873 


w New Korea Growth Fa 5 

"Nova Let Pacific Inv Co— ~S 
w Pod lie Arbitrage Ca - J 
m 6L Country Wrnt Fd— S 

tf Proem Glut Am Grth Fd S 

ff Regent GM Euro Grth Fd-S 
0 Regent Glbl inn Grth fd — s 
a Regenl Glbl Joe Grin Fd — s 
tf Resent GUM Poat Bosw — s 

d Regent gbi Reierve S 

ff Regent GW Resources s 

d Regent GW Tiger S 


1323 

52940 

1630 

23479 

61459 

4.1518 

13783 

28301 

40257 

11026 

17238 

18793 

10050 

1647 

1292469 

1100 


1185 


d Regent Gini uk Grin Fd — S 

" Regent Mcgtrtf Fd Lk! 8 

m Regenl Pod lie Hdg Fd— I 

"Regent Sri LonnaFd-. » 

a UnaervaiAssTalmmScOA 

w Undervalued Assets Ser I S 

tf White Tiger Inv Co Lid S 

REPUBLIC FUNDS 

w Pwwbile GAM S 

w Resubllc GAM America——! 
w Rea GAM Em Mkts Global-! 
m Rea GAM Em Mkls Lot Ami 
r> Republic GAM Europe CHF5F 
" Republic GAM Europe USS8 
" Resubllc GAM Grwth CHF JF 

" Republic GAM Growth r £ 

w Peaubllc Gam Growth USS 8 
w Republic GAM Oeoorhtolty S 
" Republic GAM Pacific- — S 

"ReP Glob Currency 5 

"RwCJab Fixed Inc 1 

w RepuWlc Gnsev Dol Inc — S 
" Republic Gnsev Eur Inc —DM 

" ROPlWIC Let Am Alloc- ! 

w Republic Ltd Am Antra. —0 
w Republic Lot Am Brazil — 1 
w Republic Lot Am Mexico — 5 
w Republic Lot Am Venez.. — S 
n Rea Salomon Strategies— 8 
ROBECQ GROUP 
POB 97X3000 AZ Rotterdam.! 31)10 2241ZU 

tf RG America Fund FI 13190 

d RG Europe Fund FI 12560 

d RG Pad tic Fund FI 14180 

d RG Dlvlrenre Fund FI 5300 

d RG Money Pius FFL Ft 11626 


13640 

11517 

153-16 

12828 

11289 

98J6 

10*10 

9906 

14703 

11384 

14643 

103611 

102671 

102S 

HUM 

10103 

9637 

11631 

10619 

8303 

8627 


Mare Rabeco see A mste rd am Stack* 
ROTHSCHILD (CROUP EDMOND DE) 
IN-HOUSE FUNDS 
"Askm Capita) Holdings Fd-S 

w Oalwa LCF Rothschild Bd_S 

w Da I wo LCF RottBCh Eq 8 

w Force Cash Tradition CHF-SF 
"Letcom J 


w Leveraged Cap Holdings. 

W a Hit- Valor SF 

w Prt Challenge Swiss Fd sf 


6205 

10OL* 

104620 

1849665 

277614 

6126 


b Prleauity Fd-Europe. 


b Prleauity Fd-Hetvetlo- 
b Prleauity Fd- Lotto j 
b Prlbond Fund Ecu. 
b Prlbond Fund USD. 
b Prlbond Fd HY Errur Mkts8 
w Selective invest SA. . S 

b Source i 


"US Band Ptus- 
" Vcrtaplus- 


.Ecu 


107*78 

116835 

10315* 

149083 

116455 

109067 

119.143 

367810 

16431X 

931049 

103204 


ROTHSCHILD (GROUP EDMOND DE) 
OTHER FUNDS 

d As to/ J anon Emerg. Growths 1701450 

" Esertl Eur Parin Inv Tst Ecu 133389 

w Europ Strateg Investm td— Ecu 105549 

O Imeqral Futures S 92307 

a Padflc Nles Fund _! *07 

/ Sriecfkxi Horizon FF 8176515 

b Victaire Ariane —8 510868 


ROTHSCHILD ASSET MGMT (Cl) LTD 
m Hem rod Le v eraged Hid — S 85671 

SAFDIE GROUP/KEY ADVISORS LTD 
m Kev Diversified Inc Fd Ud8 1171192 

0 Tower Fund Global Bond S 997801 

b Tower Fund Gtabal Eaully _S 
SANTANDER NEW WORLD INV. 
m Commander Fund S 106778 

m Explorer Fund -3 122338 


SC FUNDAMENTAL VALUE BVl LTD 
Tel 599 * 322000 Fa» 999 9 322031 
mNAV S 132981 


SKANDINAVISKA ENSK1LDA BANKEN 
S-E-BANKEN FUND 
d Euroaa Inc — — S 


d Flarran Ostem inc. 
d Gtabal Inc. 


d Lakomedel mc. 

d Varidenlnc 

d Japan tnc 

tf Mlllolnc. 


d Sverige inc. 


tf Nardamerlka Inc. 
d Teknoiogi inc. 


d 5verlge Rantetond inc. 
SKANDIFONDS 
d Eauilv Inn Acc 


101 

103 

103 

0.94 

1.10 

8974 

006 

1034 

0.9* 

109 

1068 


tf Equity Inti lnc_ 


d Eauilv Global. 


d Eoultv Nat. Resources. 
ff Eauilv J tari- 


ff Equity Nordlc- 
d Eoultv U.K.. 


d Eoultv Continental Europe-! 

d Eaully Mcdllrirarttjn S 

tf Eoultv North America ! 

d Equity Far East S 

tf Inf'l Emerging Markets S 

d Bond inn Acc s 


d Band Inti inc. 


tf Band Europe Acc. 
tf Bond Euroae Inc. 


O Band Sweden Acc - 
d Band Sweden ine- 
rt Bond DEM Acc — 
tf Bond DEM Inc. 


Jen 


d Bond Dollar US Acc. 


DM 

DM 


tf Band Dal tor US inc. 
tf Cure US Doll 


d Cure. Sweatth Kronor Sek 

a Sweden Flexible Bd Acc — Sek 

d Sweden Flexible Bd Inc Sek 

SOCIETE GENERALE GROUP 

d Aslo Fund — — Y 

d BTWCotA S 


1703 

1197 

187 
102 

9960 

ITS 

182 

1.71 

•97 

208 

523 

152 

1265 

783 

171 

106 

1600 

103* 

138 

OM 

188 
.10* 

- 188 
1265 
90* 
9.99 


d BTWCatB- 


"SGFAM SI rat FdDtv- 
"SGFAM SlrotFdFln_ 
SOGELUXFUNDISFI 
»5F Bon* A USA. 


.FF 


554180B 
MAS 
li in 
55017 
• 21 * 


w SF Bondi B Germany DM 

"SF Bends C France FF 

"SF Bands E G3.. 


* SF Bonds F Japan . 


w SF Bands G Europe. 


w SF Bonds H World Wide S 

w SF Bonds I Italy LI1 


"SF Bonds J Belgium 

w SF Ea. K Norm America— 5 

w SF Eq. L W. Europe Ecu 

" SF Ea. M Pacific Basin Y 

» SF Eo. P Growth Countries 0 

"SF EO.QGPM Mines S 

"SF Eq. R Worldwide S 

" SF Start Term S France — FF 
wSF Short Term T Eur. .Ecu 


50 DITIC ASSET MANAGEMENT INC 


1601 

3181 

125.91 

1102 

2353 

1780 

1051 

2989500 

81300 

1762 

1601 

1549 

1075 

3072 

1604 

1766SBD 

1668 


"SAM Brazil. 


"SAM Diversified 

" SAM/McGore Hedge. 

"SAM Opportunity 

*SAM Oracle. 


"SAM Strategy. 
mAHtoaSAM. 


" GSAM Compost le. 


SR GLOBAL BOND FUND INC 

mCtes A Distributor S 

m Class A Accumulator 5 

SR GLOBAL FUND LTD 
mSR European — - ■ ■ ■ 1 
mSR Aslan , s 


26556 

131.92 

12200 

131.18 

11520 

11670 

1Z364 

33510 


10239 

10233 


mSR Internal tonal. 


SVENS KA HA NOELS BANKEN SA 
146 Bd de (a Petrvae. L-23J0 Luxembourg 


10090 

10512 

10300 


b SUB Bond Fund - 


w Svenska Set. Fd Amer Sit — J 
w Svenska Set Fd German _s 
"Sveroko Set Fd Inf'l Bd Sh-S 

" Svenska Set Fd Inti Sh S 

" Sverako Set. Fd Japan Y 

" Svensko Sec Fd Mltt-MId _Sek 

" Svenska Set Fd Nordic SEK 

"Svenska Sel. FdPoctt Sh — 5 
w Svensko SeL Fd Swed Bds_ Sek 


3*44 

1573 

1062 

1207 


387 

11309 

10264 

871 

140*71 


SWISS BANK CORP. 

d SBC 100 Index Fund SF 

d SBC Eoultv PttF Australia— AS 

d SBC Equity Pfff-Canoda CS 

tf SBC Eautfy PfH-Europe Ecu 

d SBC Eq Pffl-NerherlcndL-.FI 
d SBC GovT Bd BS S 


d SBC Bond PM-Austr! A AS 

d SBC Bond Pff)-Au*friB — A! 
d SBC Band "HfLConS A— _ Cs 

d SBC Bond PlH-ConJ B CS 

d S8C Bond Ptff-OM A DM 

d SBC Band PfD-DM B - DM 


d SBC Bond Pin-Dutch G. A_F| 
d SBC Bond Ptn-Dulch G. B— Fi 

ff SBC Band Plfi-Eai A Ecu 

d SBC Bond PtfVEcu B -Ecu 

d SBC Bend Ptft-FP A FF 

tf SBC Bond Ptfi-FF B FF 


« SBC Bond Ptfl-Ptos A/B. 
d SBC Bond Ptfl- Sterling A -7 
d SBC Band Ptfl-Slerlbie B s 

d SBC Band PnrHolto-SF A SF 

d SBC Band Partfoito-SF B SF 

tf SBC Band PHH)SS A 3 

d SBC Bond PtfHJS! B S 


d SBC Bond Ptfl-Yan A . 
d SBC Btad Pffl-Yen B . 
d SBC MMF • A$_ 


ff SBCMMF-BFR- 


— Y 
— Y 
-AS 


d SBC MMF - CanJ. 


.BF 


_C* 


d SBC DM Shori-Term A DM 

d SBC OM Short-Term B DM 

0 SBC MMF - Dutch Gl FI 

ff SBC MMF • Ecu Ecu 

d SBC MMF - Esc ESC 


ff SBCMMF-FF. 
d SBC MMF - Lit. 


-FF 


d SBC MMF - Pfos . 


-Lil 


0 SBC MMF -Schilling- 
d SBC MMF - Sierlln 
d SBC MMF - SF. 


-Pta 


ff SBC MMF - US - Dollar „ 

tf SBC MMF - USS/11 S 

ff 5BC MMF - Yen Y 


d SBC GlbLPfB SF Grth SF 

d SBC Glbl- Ptfl Ecu Grth Ecu 


d SBC GIM-Ptfl USD Grth. 

d SBC GM-Ptfl SF Yld A SF 

d SBC G(»- Ptfl SF Yld B SF 

d SBC GRU-Ptfl ECU Ykt A— ECU 

d SBC GlW-Ptfl Ecu Yld B Ecu 

d SBC CW- PW USD Yld A-0 

tf SBC GlbkPttl USD Yld B 5 

rf SBC Glbl- Ptfl SF IK A SF 

ff sec gup-phi sf ik b sf 

d SBC GlbhPtfl Ecu Inc A Ecu 

ff SBC GlW-PHt Ecu IK B— Ecu 
ff SBC GlOhPtfl USD IK A _8 

ff SBC Glbl-PHt USD IK B S 

ff SBC Glbl Ptfi-DM Growth _J)M 
d SBC Glbl Ptfi-DM Yld B — DM 

d SBC Glbl PHFOM IK B DM 

d 5BC GIH-Ptn DM Bal A/B—DM 
ff SBC GIW-Fin Ecu Bal A/BXdj 
d SBC Gtal-Ptfl SFR Bal A/BiF 
a SBC Glbl -Ptfl US! Bal ABJ 
ff SBC Emerging Merkels— _! 
ff SBC Small » Mid Cops S"^5F 
d SBC Nat. Resource US! — i 

d SBC Dm Floor CHF 95. SF 

d SBC Dm Floor USD *5 S 

ff America Vo to/ S 


a Anglo valor. 


d Asta Portfolio- 


-I 


d Convert Bond ScicC H cn SF 

d D-Mark Bond Seieettan DM 

ff Dalkr Band Seieettan — _ 0 

ff Ecu Bond SctecHon Ecu 

d Florin Bond Seieettan ,.,Pl 


167*00 
26500 
22*00 
11900 
31700 
102)77 
99.17 
1IS03 
10152 
12636 
15614 
17865 
15709 
17839 
10407 
12771 
53301 
65708 
*30000 
4906 
5939 
106100 
137409 
9821 
10*04 
10460000 
11440500 
440179 
11*8000 
480179 
104884 
135643 
TST 1.97 
385604 
47714000 
2591074 
26760800 
37573600 
32*1786 
7091 05 
MWU2 
7350.43 
112964 
<0237400 
1111W 
1237.19 
118108 
TO654 
115784 
113108 
130509 
101UJ 
118403 
101368 
108008 
105305 
1 13778 
957.10 
103*77 
102190 
101903 
102)63 
99107 
*9*71 
97706 
100525 
121504 
50600 
48587 
99100 
*9500 
34621 

21134 

74639 

99.14 

11510 

13601 

10167 

12080 


ff JgtonPortfolia . . Y 

tf Sterling Band Setadtan 1 

ff Sw. Foreign Bond Selartion8F 

a SwlnVcfor— . SF 


187131 

50981 

41983 

42780800 

2419600 

1)277 

10951 

J2S7S 

7400 

1098*. 

1176X03 


d Universal Bond Sricctto*— SF 

d uahweai Fund. — — SF 

O Yen Bard Selection —Y 

TEMPLETON GLOBAL STRATEGY SICAV 

d GtooolGrowfnaA 5 

d Gtabal Growth O B * .. 

ff DM Gtabol Growth -DM 

tf smaller Companiea Cl A— 8 
d Smaller Companies Cl B — S 

d Infrostr.a CommunicatloaS 

tf Pan-American Cl A -5 

ff PfpyArmrkon a D— — | 

rf European. ■ . A F 

d For Eon — » 


tf China Gateway. 


ff Emaralni) Markets a A — s 
d Emerging Markets Cl B— 0 
ff Gtabal (/rallies » 

ff Gtabal Conuerflble S 

0 Global Batoad a 

ff Giobol Income O A — —3 
d Global Income a B. 


ff DM GUM Bond— OM 

ff Van Gtabal Bond Y 


ff Emerg Mkts Fix Ik a A 5 

a Emera Mkts Fix inc Cl B— S 

ff U5 Government * 

0 Haven SF 


ff USS Lkutd Reserve S 

ff DEM Liquid Reserve—— DM 
TEMPLETON W. WIDE INVESTMENTS 
GROWTH PORTFOLIO 


1130 

1003 

1309 

1128 

1618 

9.94 

1689 

1075 

1692 

1405 

982 
1701 
1077 
1002 
1085 
1661 
1174 
1027 
1003 

99008 

1200 

1083 

983 
1088 
1US 
1003 



1375 

1610 

113 

Wi 

1789 


THORNTON INVESTMENT MGMT LTD I 

33 Queen SLLondon EC6R IAX 071 2668000 


961 

90* 


d PocH Invt Fd SA i 

ff PgdflnylFdSADM DM 

ff Eastern Crusader Fund __s 

ff Thar. LJttl Dragons Fd L*d J 

ff Thornton Orient IK FO LM S 

d Thornton Ttaer Fd Ud .. .. 8 

ff Managed Selection... ■ .S 

"Jokorta 5 

tf Ko 


1*10 

3*35 

1423 

4281 

2613 

5704 

2153 

1468 

1803 


NEW TIGER SEL FUND 
tf hang Konp 8 

d I wpn n _ . S 


d Malaysia- 


0 US! Uqufdtfr- 
d China. 


d Singapore. 


THORNTON TAIWAN FUND 

d Entity Income — S 

0 Equity Growth s 

0 Uoutaltv S 


5102 

1704 

968 

8289 

2603 

2583 

827 

1025 

1700 

2670 


LI EBBRSEE BANK Zurich 

ff B- Fund ■ ■ .. — — . 

tf E-Fuad 


1638 

1887 

1000 


tf J • Fund- 


ff M- Fund. 


JF 


ff UBZ EtKMlKOfM Fund SF 

tf UBZ world Income Fund —Ecu 
tf UBZ Gold Fund 8 

tf UBZ Ntooon convert SF 


d Asia Growth Convert 5FR—5F 

ff Asia Growln Convert USS. -8 

ff UBZ DM -Bond Fund DM 

d UBZ D- Fund DM 


tf UBZ 5«rtsi Eauilv Find. 

ff UBZ American Ea Fund S 

0 UBZ*- Bend Fund S 

ff UBZ Southeast Asia td — -8 

m UBZ Dl versified Strtetas A J. 

m UBZ Diversified Stdgta* B J 
UNION BANCAIRE ASSET (NOT (UBAM) 
INTERNATIONAL, NASSAU 

wArdat Invest S 


118*35 

59610 

3S9.18 

1190.14 

1626 

55.12 

13625 

117300 

11BL45 

116603 

10003 

10187 

10669 

9128 

9207 

1Q3JM 

100132 

100381 


"Armlnvest. 


w Beck invest. 

"Brucbwest. 

rOlntotures- 


w □ invest. 


w Dta vest Asta !_ 


"DtovestGotdlMetais-^S 

"Dtovgritla » 


w Dtnvxst Inff) Fix toe Strot- 

"Joglnv es t. 


"Monslnvest. 

w Marti nvest- 

wMourinvrel. 


w Mourinvest earning tad . 

wMourinvest Ecu 


w Pulsar Overtv- 
wOuanltovest. 


"Quantlmrest »3_ 
wStelnlnvesi— _ 

"TudtovtSt 


97660 Z 
109387 z 
127692 z 
119304 Z 
103556 z 
256164 Z 
108023 z 
1QQ7J91 Z 
93903 z 
86656 Z 
202*16 Z 
97388 Z 
138921 Z 
355103: 
977.99* 
162163 z 
1H*9I z 
1737.10 x 

250089 z 

142100 z 

290280Z 

112*04 z 
64604 I 


UNION BANCAIRE ASSET MOT (UBAMI 
INTERNATIONAL LUXEMBOURG 

"UBAM! Bond S 


"UBAM DEM Bond- 

" UBAM Emerging Growth _S 

w UBAM FRF Bend FF 

" U BAM Germany . 


"UBAM Gtabal Band. 

"UBAM Japan. 


.Ecu 


"UBAM Sterling Bond. 


"UBAMSth PocilBAsta S 

" UBAM US Equities S 

UNION BANK OF SWITZERLAND/INTRAG 


116683 z 
111611 Z 
99631 Z 
50684 z 

108287 2 

144205* 
9365001 
972.14 
21677 x 
116360* 


ff Amen. 


ff Band- Invesl. 

ff Brn-lnvest — 

ff Canoe 


-5F 


ff Convert- invest, 
d D-Mark- 1 nvest. 


-SF 


d Doflor- Invest 

d E iterate- Invest — 

tf Espac 


-DM 


-SF 


-SF 


-SF 


tf Fronat. 


d Germoc. 


dGtabinvesi. 


-SF 


d Gotd-lnvesl. 


-SF 


d Guldrevl nvest. 

tf Hetvettovesi- 


-SF 


d HeBcmd-Invest- 

d hoc- 


-SF 


JF 


ff Jtaan-lnvesl. 


-SF 


ff PocHtc rnvest. 
rf Sam. 


-SF 


-SF 


ff Skandtoovten-lnvest- 

ff Start I n^-l nvest . 


-SF 


tf Swiss Fronei nvest . 

a Sfcno. 


-SF 


d Swtareal. 


-SF 


-SF 


d UBS Amer lea Latina, 
d UBS America Latino. 

rf UBS Asia New Horizon SF 

ff UBS Aeta New Horizon S 

rf UBS Small C Europe SF 

d UBS Small Ceurope —DM 

tf UBS Part Inv SFR Ik- JF 

d UBS Port Inv SFR Cap G—8F 
d UBS Port Inv Ecu Ik— — SF 

ff UBS Port Inv Ecu Inc Ecu 

tf UBS Port Inv Ecu Cot G—SF 
d UBSPortlnv Ecu Can G — Ecu 

d UBS Part Inv USS Ik s 

d UBS Part lew USi Ik SF 

d UBS Port Inv USS CapG_SF 
d UBS Port Inv USS Cap G—J 
tf UBSPortlnv OM Inc SF 


d UBS Part Inv DM inc DM 

a UBS Pan llW DM COP G SF 

d UBS Port Inv DM Cap G OM 

d UBS Part Inv Ut inc SF 

tf UBS Port inv Ul ik Lit 

ff UBS Part inv Ut Cop G SF 

ff UBS Port InvUt Cap G Ut 

tf UBS Pert Inv FF Ik SF 

d UBS Port Inv FF I nr FF 

d UBS Port Inv FFCopG SF 

tf UBS Pori Inv FF Cap C FF 

d Yen-Invert Y 


d VBS MM Invert -USS. 
tf UBS MM invests St- 
ef UBS MM In 
ff UBS MM Invesl- Ye 
tf UBS MM Invesl- LIT. 


0200V 

55.10 V 
13708 V 
71-75 y 
12300 V 
19360 y 
10*74 y 
18780 v 
15450 V 
33708v 
- 29688 Y 
18980 v 
24*88 r 

-10600 V 

24008V 

2S2J0V 

10108 y 
32580 V 

14000 y 

24100V 
44250V 
23350V 
258.00 y 
19670V 
19408 v 
23680 
19300 
11*60 y 
9188 V 
9900 V 
19J9y 
9300V 
11200 V 
18295 V . 
18265V 
943SY 
5907 y 
9708 y 
4107 y 
7493 V 
9345 V 
9*65 y 
7590 y 
9200 y 
111.90V 
9305 y 

11260V 
950Oy 
1 1749006 y 
9520 y 
116953007 
9795 y 
40*10 y 
97.45 V 
40200V 
M950J»V 
101904 
41180 


rf UBS MM Invest-SFR A _SF 

ff UBS MM Invest-SFR T SF 

tf UBS MM Invert-FF FF 


10177200 

107447600 

517288 

589785 


ff UBSMM invest-HFL. 

tf UBS MM Invest Can 5 CS 

tf UBS MM Jnvtrt-BFR BF 

tf UBS Start Term lnv-DM_DM 
rf UBS Band Irn^Eai A Ecu 


rf UBS Bond Inv-EcuT. 
rf UBS Bond lnv«FR_ 
tf UBS Bond Inv -DM. 


-Ecu 


-SF 


ff UBS Band irtv-US! * 

ff UBS Band Imr-FF FF 


d UBS Band InwCan S. 
ff UBS Band lmr-Ut_ 


-Ut 


d UBS BJ-US8 Extra Ytoid s 

ff UBS Fix Term InwSFR 96_SF 
0 UBS Fix Term tnv-OM96-JDM 
ff UB5 Fbc Term inw-Ecw 96— Ecu 

ff U8S Fix Term Inv-FF H FF 

tf UBS Eq ImHEUTOPS 4 PM 

rf UBS Eq Inv-Eurape T. DM 

tf UBS Ea lnv-5CapUSA s 

d UBS Port I Fix IK fSFR)_SF 
d UBS Port I Fix Ik IDM) —DM 

d UBS Port 1 Fix IK (Ecu) Ecu 

d UBS Pari I Fix Ik (USS)_S 

ff UBS Port I Fix Ik (Ut) ut 

ff UBS Part J Fix Ik IFF) FF 

ff UBS Cap lnv-90/M USS S 

rfUBS Cap lov-90/10 Germ DM 

WORLD FOLK) MUTUAL FUNDS 
tf 5 Dally income ^ 


104580 
104256 
2718600 
56596 
10204 y 
15260 Y 
9994 V 
10239 V 
9S06V 
1049.74 y 
10222y 
1120309 J»y 
9*12 V 
10684 V 
10906 V 
10786 7 
10604 V 
23*03 y 
23009 y 
120 JD y 
9688 y 

10682 V 

10097v 
10084y 
1011*500 r 
40301 V 
105.15 V 
12206 y 


d DM Dally Income. 

d 5 Bond Income 

d Non - 5 Bonds 


-DM 


d Global Bands- 


d Gtabal Batoncsd- 


ff Global Equmes. 


ff US Conservnthnr Eouttlez_8 

tf US Agresstve Equllles s 

tf European Equities. 

ff Pacific T 

ff Natural Resautm. 


100 

100 

1764 

2704 

2001 

1007 

19J0 

1488 

1*27 

11.18 

14.14 

809 


Other Funds 


" AettereliScxK* Steuv Fi 

"Actl finance Slam « 

* ACHuturK Ud — 3 


" Acttoertkxi sicav. 


" Adlvesi InTI State. 
w AdetaWe 


.FF 


mAdvtmced Latin Fd Lto. 
m Advanced Padflc Strut. 
"AIG Taiwan Fund— S 


"Alexandra Glbl invesl Fd I j 
m Anna Hweetmmi « 


"Aouita lnternatUuibl Fund-! 

"Arbi fin investment— s 

" Arwe Fund Batanced SF 

"AfMHFunflHewd « 


ff Asia Oceania Fund. 


" ASS (Global) AG. 

mteodatad Investors inc—s 
"Athena Pvnd Lto % 


" ATO Nikkei Fo nd 
w Banzai Hedged Growth Fd -I 

"Beckmon Int Cot Acc s 

"BEM intennttanal l m * 
a BUtubeoMarval EEF_c cu 

mBtacznar Global Fd A Sh, 3 

mBtecrnnr Gtabal Fd B Sh S 

m Bleonar Global fd Caymans 

" Brae IntemotlBnol cp 

ff C.C.IJ i 


Leverage Fd Ltd_» 
mCmiitM Assured India Fd— s 
Fund DM 

m Century Futuree « 

mCervln Growth Fund 3 

m Chilton Inti (BVl) i M « 

" China Vision $ 


58562 
84998 
85M4 
507.97 
2*21 
47L96 
19208 
*174 
9U6 
140063 
IUS 
*2)009 
35128 
78029 
111801 
1(0208 
1520 
662.75 
79130 
*61132 
74083 
517297 
122 
1 182 
11117 
292.13 
*5304 
34889 
590124 
4924 
2166309 


14226 

90901 

8684 

102D7J9 

1807 


« CMI investmentFwid---— - 
mCML SlyafwK Bd MW-» 

mCAiL Strategic wwFd Lta-» 

mColumibiri ktatoWJ — — — * 

m Concorde Inv Fund- s 

w Centlvegt — ®£ 

"Canttve® 00)1 Bdux CT— BF 
w conltwsl 0MI 

w Convert. Pd IM3 A Cer^—* 

"Convert. Fd InTI B Ctm-J 
m Craig Drill Cap.. — — - J 


w CRM B.T.P. M,Ud__ j. 

mCRM Fururos Fund Ltd J 

wCRM Global rtUd-- — J 

"Crwfiy Asset Mwn! LM—S 

"Cumber I nil N.V. * 

"Curr. Concent 30« * 


W HUT. WW 11 ~ 

ff D. Witter Wtd WWr IvtTst-! 


w D.G.C. 


d Dalem Japan FwW 

rf DB Arg8«ttoa 


ff DBSC / NOtto Bond Fund —5 

"Perttfntlw AsaNAtlp C 9 

w Detector One Lto - ■■ •» 


ff Drevhn America Fund — s 
/ DVT Parlormanc* Fd. 
m Dynasty Fund- 


DVTKSiy l-wn — . ■ 

„ Ess Oversees Fund Ltd — !_ 

m ENte World Fwto LM. SF 

ff Eml Beta. Ind. Pta! * BP 

ff eml Beta, wt Pta! B BP 

ff Eml France Ind. Flui A — FF 
0 Eml France ind. Plus B — 
rf Em) Germ. *n* £*“**—— 555 

ff Eml Germ. Ind- Ptas 8 dm 

ff Eml Noth, index Plus A — FI 

ff Eml Neth. index Pta» B FI 

d Eml SootalndPtosA Pta 

d Eml Spain Ind Pits B Pta 

rf Eml UK Index Plus A 1 

ff Eml UK index Plus B_—-t 

w Esdr. 51a Irw. 51h Eur Fd— s 

ff Europe 1992 ■ 

ff EunwOWtaolfora fat 


wFJMJ*. Portfolio. 

mFdtunt FutxL 


mFireWrdOversmLW- 

v First Eagle Fund. 

w First Ecu Ltd. 


m First Frontier Fund 
"FL Trust Asia 


-Ecu 


"FL Trust Switzerland, 
ff Fondiniio. 


w Foohjx i Money. 


w Fonlux 3 • Mt Bond SF 

iv Fonmutttfon 10 InH .. D M 

w Formula Selection Fd — — SF 
d Fortitude Group Ik A 

m Future Generation Lid » 

m FXC investments Ltd S 

"G.i.m i Multi-Strategy ! 

m GEM Generation Ecu a — * 

m GEM Generation Ltd S 

mGeariol Cars Lto * 


fflCtm Prouresstve Fd Lid— s 
"General Fund Ltd ... » 

ro German Sel. Assoctofes DM 

"Global 93 Fund LM* * 

w Global 94 Fond LM SF_ SF 

w Giobol ArMiraoe LM SF 


mGtabot Bond Fund 


"Global Futures Mot Ltd. 


d GmnLtae France FF 

mCuarontaed Capitol town 94 LF 
raOuarantocd CommodHy Fd* 
m Guaranteed Currency Fd— S 

f Hausmtann Htdas N.V S 

m Hemisphere Neutral Sop 300 
wHestia Fund ! 


b Htonbridoe CapBoi Coro — » 
w Ibex Holdings Lto—. — -SF 

fflDF Gtabal -! 

b ILA-IGB — i S 


b l LA- IGF - 


b 1LA-INL. 


w Indlsa Currency Fd Ltd — I 

r Inn Securtttm Fund Ecu 

" Inter MstMitiFdMixte — DM 
rf infertundSA. 


ff Inti Network Invt. 

tf investa OWS. 


"Japan Pociflc Fund. 

mjapon Selection Asses Y 

" Japan Median Fund S 

" Kenmar GM. Series 2. S 

" Kenmor Guarorrieed — ! 

m Ktogata Gtabal Fd Ltd S 

wKM Gtabal. 


ff KML-IIHtoh 

" Korea Graerih Trust— — S 

"La Fayette HohtlnasLW — s 

b Lb Fayette Regular Growth! 

mLaJalta Inf Grth Fd Ud — S 

" Leaf State . - 0 

mLew fte riarmwce Fd s 

w LF International S 


m London PorttoHa SenKes— * 

mLPS Inll HJ*.B * 


mLux JollMat Fd Lid- 

Lux tund- 


m Lynx SeL Hotdbigs- 


_SF 


"M.Khwdon Offshore, N.V S 

m Master Can & Hedge Fd . 

" Matterhorn Onshore I 

"MBEJapsiFand. 


m McGinnis Global (Sep 38)— S 
mMCM Ml. Limited -8 


"MIHennlum Intenattanal. 

mMJM Inltmattanaf Ltd S 

m Momentum Guild Ltd S 

"Moadtoval Sicav SF 

niMant BtaK Hedee 3 

- Mulllhilures FF 


ff NewMUtoanluai Fut Ud_! 

ff Newbank Oebeniurcs s 


mMlMtvthrae Mutual Fd NV.Ecv 

ipNMT Aston Sei. ParttaHo % 

w Noble Partners lull Lid S 

" Nava Fht Fd Ltd-Proa Ser J 
m NSPF.LT. lm s 


m Ocean Str a tegi e s Lbnited— S 

b Offshore Strategics Lid I 

"Old Ironside Inn LM % 

m Omega Overseas Partners _S 

mOenenheinur u j. Are.— 8 

b> O ptimum Fund ! 

"Oracle Fund Ud ; S 



) Maris; ECU - European QifTEficy.lWtfF - Frem* France FL- Duteh Ftarrn; 

. t F r an ca: Y - Yen; a -aslad + - Offer Pnces; N A - Wol.A waiUi : N.C. • 

Price ind. 3% proton, charge; » • Pari3.exch3nge;++; Aipstentoni exchange; 

c bid price. 


m Overlook Performance $ 

mPadf RIMOpp BVl Del 17_S 
asPaw Fixed Ik Fd (Jon 311— » .. 

jpPAH lnternolionol Ltd— S 

"PonoirrUK. ,, JS 


w Panda Fund Plc- 


« Panataes Offshore (Sap 38) 3 
07 Paragon Fund Limited— — S 

m Paradox Fund Ltd- S 

mPrquof mn Fund. 


mPcrmal Updyke Ud- 


" Pharma/wHeoltii. 


w Plurtoesiton Pturllorex FF 

w Phrieesttan Ptartvotew — FF 
" Pturtvest State - FF 


mPamtxw Overseas LM. 
m Portuguese Smaller Ca — —3 
m Portuguese Smafler Co a CS 
m Prt ma Capital Fund LM — S 

mPrtmeoFund S 

tf Proflrcnt&A DM 


" Pyramid Inv 
tf RAD HU. Inv. Fd. 


0 Regal Inti Fund LM 5 

m RehCam invert menl N.V i 

t Pie tnmnwt Fund « S 


* RM Futures Fund Sloov. 

"SaHortsinflEauKy Ecu 

"Sailor's inti Fixed. 


ff Sanyo Kle. Spain Fa. 


ff SareArtek Holding N.V.. 
"Saturn Fund. 


m Savoy Fund LM— — — ! 
ff SCI / Tech. SA Luxembourg* 

m Selects Gtabal Hedge Fit s 

d Selective Fut. Ptfl L" _ 
"Sinclair Muttitand LM. 
"Sbura Fund Ltd. 


"SJO Global (609)921-6595—! 
tf Smith Barney Wridwa sk « 
ff Saillli Barney WrtdwdSaecS 

"SP imernattanat SA A Sh s 

" SP Intenxrttonai SA B Sh — S 
m Spirit Hedge HW S 


m Spirit Neutral Hid- 


w Sfdnhanfl O’seas Fd LM— S 

w St Mntxudt Realty Trust s 

m Stridor Fund s 


m Strome Offshore Ltd. 


tf Suraet Gtabal III LM. 


ff Suraar Global One. 
m Sussex McGare. 


" Techno Growth Ftaid _ 
rf Templeton Global Ik. 


mThe Bridge Fund N.V.—! 

m The Geo-Global Offshore S 

rf The iRsflt IWuW Advtaors_S 
mTbe J Fond 8.V8. Ltd s 


" The Jaguar Fund N.V.. 

d TheM*A*R*SPdSlcav A s 

d The M-A*R*S Ptf State I DM 

rf The Mom Ecu Fd Ltd Ecu 

ff The Magus US S Fd Ud S 

roThe Seychelles Fd LM S 

mThe Smart Bond Ltd SF 

m The Smart Band LM 5 

" Therm M-M Futures s 

nt Tiger Setae HoMNV Bid ! 

b TlIC (OTC) Jap. Fd Sicav -J 
b Tokyo (OTC) Fund sicav— S 
"Trane Gtabal Invt Ud_— 1 


ff TranspodftcFund. 


"Trinity Futures Fd Ud. 
m Triumph I, 


m Triumph lv_ 


ff Turauobe Funo. 


"Tweedy Brown infl 5FR SF 

m Tweedy Browne Inti ilv s 

” n-v. a A— s 

ff UBoFuturex . eg 


d UbaFuhires Doltar. 


t Ultima Growth Fd Ltd s 

rf Umbrella Debt Fund LJd s 

d Umbrella Fund Lid J 

" Uni Band Fund . Ecu 

“ Un| Capital Aitamogne DM 


m Uni trades CHF Reg 
mUnlirodesFHF 
mllnitradn USD 
"Uraus mn Ltd. 

mvolbame. 


mVega Fd LtdCKaiA— 5 

m Victor Futures 8 

* Xfiww.nwffstmmis Pic— s 
w Vulture lm % 


WJI 

n*6* 

10087 

1000! 

10005 

:iuz 

118896 

•11708 

HS9408 

46627 

3003 

7604 

13608 

90523 

82964 

180008 


w Unj torttoi Qxtveritaies — Ecu 
"'UnWHd FSSvstemaNqut JSF 
» \M4M Sk FS Max 3 ons -SF 
" UnLGMbal Sicav DEmT_!j>M 
" UitLGtobnl Sicav Fro .. S T. 
» State FRFtZZFF 

" Urtf-Gtaboi State FS_ SF 

" UnlGtabal State USD I 

d IMa. Eoultv Fund DM 

ff Unleo Hw, Fund nu 

m Unj trades chp . 


5UJ1 

10404 

2660 

31521 

as 

943591 
HM1.W 
M2982 
92403 
211* . 
11071 -f 
101 
152500 
931256 
1051300 
1131808 
85*02 

883.10 
100.17 
IBW 
67304 
68624 

1128800 

1177O0B 

12694. 

14023 

7.1* 

1101 

10056 

88955 

123684 

14689 

6138184' 

2907 

44.18 - 
174J5 

130.11 
8627 

94181 

92687 

98306 

2690 

9692 

88884 

*7008 


98284 

89601 

522689 

15580? 

85387 

1773J7 

1227 
2406 
1437 JS 
93,14 
12S3J7 
2604 
84789 
59526600 
906 
788 

ianm 

W*09 

2258) 

1227793 

23107 

93.12 

1204 

1189 

KUO 

unnn 

3081 
95786 
4300 
785 
11.85 
38681 
6960 
197.19 
110100 
1282 
9289 
1B2120B 
64785 
4154 
157 J3 
11286 
17384 
1216*1 
T020553 

127229 

1203 

10811 


14053 
13*01- 
17.93 
9784 
144T386 
199408 
1503.75 
73008 
1351 
10187 
8989 
71655 
99 JO 
5980 
94929 
13V60O 

toeaoo 
32*30 
16602 
107287 
123* 
1398* 
94278 
8709 
1552234 
17188 
141389 
112J8 
20701 
10538 
• 106155 
150314 
1973* 
MUSS 
H6J0 
IM0 
4950 
. 212.44 
227 JO 
97.J3 
93357 
4751 
5*W 
108122 
1114 
1003 
11385 
900 
127155 
7.10 
147*86 
12675300 
1037 
9106 
2162631 
132182 
135705 
85? 
400 
142706 
1221.18 
1986 
899.970 
96614 
73685 
1556 
131905 
4131 
31186 
1325780 
7948055 
I418T 
9683 
98484 
897508 
13699 
21205 
96044 
10780 
105900 
3405 
7.95 
1279 
97283 
10088348 
1011.15 
56785 
19665T 
295681 
16247 
IC.T23 
8578620 
B39JS 
94303 
122505 
9400 
1181 
. 1057 
297.11 
2088600 
1843338 
8n*52 
49239 
14189 
903 
. . 2U3 
4902 
2967695 
43H02 
485 


m«tall0s Wilder InH Ffl, 

d Wn Global Fd Bd. PHI —j6«a 
tf Win GtaMI Fd Ea. PHI— Ecu 

rf WnAMM Fd Res Ptfl SF 

d World Balanced Fund SA -A 
! 

w Cseas Pori _s 

mWW Crxrttei Grin Fd LM__j 
mYrmn j p 


mZepJnr Hedge Fund, 
mzwelo ii»n l m.. 



Education Directory 

Every Tueday 
Cartod Fred Ronan 
Td.: (33 1)46 379391 
Few: {33 1)416 379370 
or your nearest MT office 
or representative -■ 




offered price. & estimated price: y: pnee 


2 days 


For information on how to list your fund, fax Simon OSBORN at (33-1) 46 37 21 33^? 


■V* 


S’ 
ie 


tr* 

-tM# 

- i* 

-,aawf 


^7 


Hi 


.?**&• 
■ ig«S 


Il 

;-ta Mr- 
. JirfSC' 

A#?. 

ihsrJ 

.tf-M 





LvlV f '-" 


* $1 

ttm 

** V* 

n 


«01 


to 

nut* 


\ork 


. >81 

A, 


Ail 

-V i 

:MiD, 

xl-ll 

r.-t 

f ■ a 


\ 

'■HI 

• 8 »«r 

V-.ff 




•if* 
-1*1 
‘ C 




■ -id 


I. 

[L-ix. 


m 






S"' .".r- 











INTERNATIONAL HERALD TRIBUNE, 5ATURDAY-SUNDAY, OCTOBER 22-23, 1994 


Page 1 



*{» -« 
■vm 

M* r> 

* 4<iT; 

' w 


•4 « 

a 

* *. 





THE MONEY REPORT 


-I 


U.K. Properly Funds Look to Recovery 




j 


By Aline Snffivan 


B 






it* 


’ 'I* 

ri 

■ r ^'i 

■ i 

• » . 


-j 

•■V 


It 1 

t- 


.♦ J 




■ ■* t 

■ NH • 


•TJ- 


't+M ». . 
*-«jr 

M*. •. 


nu. ‘tJ 

n* t*. . 


*»4! 

*• J* 


■«r * 

»** V 
' • • *i 




- . ( 
. ~ J 
■ 1 


'-g.s 


— -!< 

— 1 



— J 

•— 1 

—5 
— > 


■ 

i 

-j 

1 

— ! 

• 


RITAIN’S 
boom of the 1980s is a 
distant memory to the 
new breed of investors 

* now straining to spot opportu- 
p nines in a market only now re- 
■> covering from the deepest 
g slump ance the war. 

t Many British property funds 
5 came into existence m the early 
' 1990s, at the height of recession 

') and when real-estate values had 
S halved in some parts of Eng- 

• land. Not surprisingly, inves- 
l tors showed little interest in 

these funds at their inception. 

; But people are now talcing 

* another look. Moreover, the 
, managers of Britain's leading 
» property funds are startlingly 

bullish about the market; dis- 
playing more than the usual 
brand of optimism that many 
t types of fund managers are 
' known for. They’re citing the 
» - current cHma te of low inflation 
'^and rising consumer spending 
) as a harbinger of a new surge in 

• property values and rentals. 

"Capital is coming into this 

* market because property is 

• starting to show strong 
j growth,’’ said Iain Reid, chief 
"• executive of BZW Property In- 
vestment Management, a sub- 

of the London broker- 
-ys de Zoete Wedd. 
property should pro- 
duce returns of between 15 and 
20 percent per annum over the 
next three years, and of up to 30 
percent a year in Lbe London 
office rental market.” 

Mr. Reid said he expects as- 
sets under management in the 
Barclays Unicorn Property 
fund to double to about £60 
million ($96 million) by the end 
of next year. The fund, which 
invests directly in British real- 


estate holdings, produced a 14 
percent return over the past 12 
months. 

Nick Price, a fund manager 
at the Norwich Union insur- 
ance group, is equally bullish. 
“The return of real rental 
growth will come a lot faster 
than many people expect,” he 
said. “Offices will take many 
people try surprise, particularly 
m prime locations which are 
poised for a significant recov- 
ery.” 

Norwich, Union manages two 
funds with extensive real estate 
investments: the Norwich 
Union Life Fund, which has 15 
percent of its £17 billion of total 
assets invested in British real 
estate, and the Norwich Proper- 
ty Trust, which invests 60 per- 
cent of its £130 million into 
direct holdings, 30 percent into 
property shares (companies 
that own and manag e zeal es- 
tate) and the remainder in cash. 
The Property Trust rose 26 per- 
cent over the past 12 months. 


Central London is frequently 
died by fond managers as the 
most likely sector of the British 
real estate market to benefit 
from economic recovery, partly 
because rental values were bit 
so badly by recession. In many 
London office buddings, rent- 
als are now half the £60 per 
square foot charged in the late 
1980s. 

“Central London has become 
very interesting,” said William 
Hcmmings. manager of the £12 
nuOxon Abtrust Property Share 
fund, which gained 7 percent 
over the past 12 months. “The 
oversuppiy has unwound. Lon- 
don should turn into a zeal bull 
market by the second half of 
next year.” 

Fund managers are also 
weighing the relative merits of 
commercial versus residential 
markets. Most agree that in- 
vestments in commercial prop- 
erties will continue to outper- 
form those in residential 
p r o perties this year. 


“Commercial property has 
bad a fairly good run this year, 
but in the long torn, say over 
the next five years, the residen- 
tial sector will outperform,” 
said Randal Goldsmith, man- 
ager of the £25 million Capital 
House Property Shares fund, 
which rose 2 percent over the 
past year. “Residential proper- 
ties are undervalued now be- 
cause consumer confidence is 
still weak. But that will correct 
itself.” 

Other managers believe that 
commercial properties will con- 
tinue to produce better returns 
than residential holdings. But 
within the commercial sector, 
there is disagreement about 
whether retail or office rents 
offer the best prospects. 

Mr. Price said he doesn’t ex- 
pect substantial gains in the re- 
tail market because Britain’s 
economic recovery has been 
based more on increased ex- 
ports than on a rise in consumer 
spending 



The Tax Traps of Cross-Border Transactions 


By Heather Timms 


Best Performing Internationa] Property Funds 




Over five years to Oct. 3, 1994. 



pods Wfc 1 f j.4^0^3- ■ 

v .X "■ V%. - W .V/ i 

M . ... 

. . r v» * . 


*-* ^* i ‘y*/**r * ♦«<*« 04- 

• rO-3^- ;>V V l'.*-*.:,- i= iS-y.V. 


M AKING money on property 
is about more than a buoyant 
market in local real estate. 
For owners moving across in- 
ternational borders, it is also a question of 
currency and tax. 

For example, U.S. dtlzens planning to 
sell tbeir homes in the United States be- 
fore beginning a foreign assignment might 
want to think twice before executing the 
sale. If they do go ahead and sell, they 
should take careful note of the following 
The Internal Revenue Code provides 
that any gain on the sale of a home must 
be deferral and rolled over into the basis 
of the new home, if the new home is 
purchased and occupied within two years 
of the sale. For U.S. citizens or residents 
living abroad, the reinvestment period is 
extended by up to an additional two years. 

If. for some reason, the foreign assign- 
ment is extended, or reinvestment is ren- 
dered impossible for personal reasons, the 
rollover gain becomes taxable on an 
amended U.S. income tax return which 
must be filed for the year of sale. And the 
tax on the gain is subject to four years 
worth of late payment interest A simple 


liuematiaiul HcnU Tribune 


example illustrates the point, 
it expatriate X sells 
in North Carolina on December 


Say that 
residence 


his principal 


21, 1994, just before leaving on foreign 
assignment to France. He realizes a gain 
of $50,000 on the sale, which be reports on 
his U.S. income tax return for 1994. 

Four years later, on December 21, 1998, 
Mr. X is still on foreign assignment in 
France and has not reinvested the sales 
proceeds in a new principal residence. He 
should thus file an amended U.S. income 
tax return for 1994, reporting the gain 
which is taxable at 28 percent, resulting in 
a total federal tax of $14,000 plus late- 
payment interest The Slate of North Car- 
olina will also want its slice of the cake, 
with tax rates of up to 7.75 percent cm the 
gain, making total state tax and interest of 
$4,960. 

The Internal Revenue Code contains no 
restrictions as to the status of the property 
in which the expatriate reinvests. As long 
as occupancy and level-of-reinvestment 
criteria are fulfilled, he can buy a principal 
residence outside the U.S. 

If the U.S. expatriate does decide to buy 
real estate in a foreign country while out- 
side the United States, however, he risks 
exposure to foreign- exchange fluctua- 
tions between the date he invests in the 
foreign country and the date he finally 
sells the property. The unexpected effect 
of foreign exchange movements can be 
compounded by a foreign mortgage taken 
out to buy the property. 

For example, say that expatriate Y buys 


a principal residence in France in 1995 at 
a time when the doUar-to-franc exchange 
rate is 55. He finances the purchase partly 
from his own pocket and partly with a 
mortgage from a French bank. One year 
later, the exchange rate has dropped to 
5.2, and Mr. Y sells his French home in 
order to repatriate to the United States. 

When he sells, he may roll over the gain 
he realizes into a new borne, thereby defer- 
ring U.S. taxation. He pays off his mort- 
gage with the proceeds from the sale, but 
realizes a dollar loss on the mortgage 
transaction due to the difference in the 
exchange rate between the date he took 
out the mortgage and the date he paid it 
off. 

In the case where the dollar value in- 
creases between the date of purchase and 
the date of sale, taking the same facts as 
above but assuming that the dollar has 
risen to 5.9 francs by the time Mr. Y sells, 
the consequences are as illustrated in the 
dollar appreciation table accompanying 
this article. 

Mr. Y*s gain on the home sale may 
receive deferred taxation treatment, but 
the dollar gain he realizes on the repay- 
ment of the mortgage is taxable immedi- 
atdy — at rates up to 39.6 percent! 

HEATHER TIMMS is a principal at Ar- 
thur Andersen International in Paris. 


BRIEFCASE 


Scudder to Launch 
Euro-Equity Fund 

Scudder, Stevens & Clark, 
Inc., an international fund 
management group with more 
‘ than $90 billion under manage- 
'mect, is launching a new no- 
load mutual fund that invests in 
European shares. The fund’s 
aim Is “to provide long-tom 
growth of capital by focusing 
on well-managed companies 
standing to benefit from eco- 
nomic growth and other 
changes now underway in En- 
r says the company. 
Greater Europe Growth 
Fund has a wide investment 
brief, but will initially concen- 
trate on shares in the better- 
established, more liquid Euro- 


1 rope," 
S • The 


pean stock markets. But, “to 
enhance return potential. . . the 
fund may pursue select invest- 
ment opportunities in the 
smaller and more risky markets 
of Southern Europe (including 
Greece, Portugal and Turkey) 
and Eastern Europe, including 
countries once part of the Sovi- 
et Union." 

For more Information, write 
Scudder, Stevens & Clark New 
London House. 6 London 
Street, London EC3R 7BE, or 
call (44.71) 265.0077. 


Europay Offers New 
German Debit Card 

According to Europay Inter- 
national, a provider of a range 


of personal payment services 
that include Eurocard-Master- 
Card, eurocheque. Cirrus and 
Maestro, more German con- 
sumers are paying with plastic. 

Europay’s latest move is to 
introduce a point-of-sale debit 
service to 42 million German 
consumers. Its electronic debit 
card offers the option of paying 
for goods and services by hav- 
ing the amount debited directly 
from the consumer’s current ac- 
count while traveling in Europe. 

For more information, call 
Europay in Brussels on (322) 
3525304. 

In next week's Money Report: 
Commodities — are they the 
growth asset class of the future? 


Has New York Turned a Corner? 


» ft 

ISA* ■ 




*1 

^Jn 

fft* 


i! 


** » 
fclfr 
a* “ 
* ' 
« ■ 
M 'i ■ 

* J. ' 

* ** - 

s » 1 

W- 


rt» 


I T FINALLY looks as if 
the dreams of Manhat- 
tan’s residential real es- 
tate brokers are becoming 
reaHty. After three years of un- 
fulfilled predictions and false 
starts, the prices of co-operative 
apartments and luxury condo- 
mini ums are edging up. 

The overall increase is not 
According to the 
Report, a survey of 
sales in the high-end co-op and 
•condo market, the average price 
v per room in the first half of this 
year rose 2 1 percent to 585,402. 

That marks the first time in 
five yean that apartment prices 
have moved up, after plunging 
some 30 percent since the city’s 
overheated residential market 
traazL to collapse in 1989. 

But overall statistics are by 
no rnttmi; the measure of New 
York City’s diverse residential 
market “In some ways the mar- 
ket is two-tier now,” said Alan 
Rogers, managing director of 
Douglas EQixnan, one of the 
city’s largest realtors. “Prime 
properties in prime locations 
are doing well, up about 5 to 7 
percent, while second-rate 
pr o pe rt ies in poorer locations 
are lagging behind." 

Joan Ambrose, President of 
the residential brokerage Am- 
brose-Mar Elia Co. agrees, not- 
ing that family-size apartments 
in pre-war buildings on the Up- 
per East Side of Manhattan are 
coming to market at prices 
about 10 percent higher than a 
year ago. 

“There’s a tremendous 
amount of interest in that size. 


haven 

many 


but not much available,'' she 
said. 

Another sector, of Manhat- 
tan’s apartment market where 
demand is outstripping supply 
is that of luxury condominiums. 
“All the new product built in 
the late 1980s is now effectively 
sold, and there are very few new 
things on the drawing boards," 
said Mr. Rogers. “We can only 
rely on resales, and if they’re 
prime buildings tike Olympic 
Tower and Museum Tower, 
they will command very high 
prices." 

Apparently, high prices 

’t deterred foreign buyers, 

w of whom prefer New 

York's high-end condos over 
co-ops because they have less- 
stringent financial disclosure 
regulations and can be bought 
for business or investment. But 
in the ever-changing demo- 
graphics of the New York mar- 
ket, Barbara Corcoran, whose 
well-known real estate broker- 
age bears her name, said she is 
seeing more buyers from Tai- 
wan, Hong Kong, and even 
mainlan d China. 

“Just about all of them are 
self-employed business people 
with a lot of textile money com- 
ing out of China," she observed. 

And in a market that is just 
recovering, analysts say, there is 
also room for buyers with 
smaller bank accounts. 

Douglas Eltiman, for exam- 
ple, has been showing an array 
of less-pricey apartments in ad- 
dition to the seven-figure vari- 
ety. Among its recent offerings 
are a two- bedroom co-op on 


Fifth Avenue with an asking 
price of $475,000, and a 4-room 
apartment with panoramic 
views and a terrace in the East 
60s for $399,000. 

While real estate brokers are 
heartened by the stabilized 
market, they remain cautious. 
“I wouldn’t want to give the 
impression that prices in the 
field are soaring," said Miss 
Ambrose. “They aren’t.” 

Like many of her counter- 
parts, Miss Ambrose is con- 
caned about the oversupply of 
one-bedroom apartments and 
studios. 

Brokers are also keeping a 
wary eye out for another uptick 
in mortgage rates, although 
they say that higher rates 
haven’t dampened buyer inter- 
est. A more likely spoiler is the 
disappointing earnings reports 
coming out of many Wall Street 
firms . 

Fat year-end bonuses are of- 
ten spent on luxury, co-op 
apartments. This year, however, 
said Miss Corcoran: “I expect 
there will be far fewer buyers 
from Wall Street” 

— Judith Rehak 



OFFSHORE 

COMPANIES 

BY LA W V ER S 

IMMIGRATION 

& TRUST EXPERTS 


OFFSHORE TRUSTS. COMPANIES, 
BANK INTRODUCTIONS. NOMINEES 
| A ADMINISTRATION flY UK LAWYERS 
aurumuBHgttnonf&SCiB- tiuMswraaf 


■ HISR inq HELIX 

■ ISLE OF BUM H95JX 

■ BELHMREiic E4SZB0 

■ JERSEY £395.08 

■ UL/HUUUU f2G 5.00 





LONDON OFFICE 

.p:r: hqiise . '.tjdset street 

cmll ir».*,ao« 

- C4-71 3 5 2 '2 ? 7 - 

r -_^ T;-7T S7J' 9&SS 


OFFSHORE 

COMPANIES 

FROM ONLY USS250 


tore and iiM s uMi uw compriB s and 
mots nuMdby tufananfinmlhlfllh 
i^^tndvUuafUorteMMnn, 
privacy and pntoctlon<rihiDOTOandMy& 

For fflS 24 pa^e brochure exptaWnfl 
ofishoretMdunandtearivantagesrt 

tobalOtyUkUBAiltA. 
pjTERMATlQNALCX^fPANY 
SERVOS LIMITED 
SmeripHoun, St Johns, Median GR 
Tel :+44 EM 801801 
Fax: +44 624 801 800 


Nans - — 


Fax No. 


m 


No. 1 

OFFSHORE COMPANY 
SPECIALISTS 


• UJCLTD £120 

'• U.K. PLC £325 

• BAHAMAS 5500 

• B.V.I. 5500 

• DELAWARE 5295 

• GIBRALTAR 2250 

• HONGKONG $350 

m IRELAND £225 

• ISLE OF MAN £250 

• JERSEY £495 

• PANAMA S500 

• W SAMOA 5750 

Qfthoa Barfa aid hmro Cfl ua aniai 

For tm»aua Senfcs and but 
60 paga Bratus 
HQtUDUXON Em 
C omas Cancan FtegfSnfcfligerts IN. 
Cataarte Hno, faun ISaol Um 
062461 SUfM Inn) ficOBHBISfl 
PETER SOREVEiq 
72 NMBQnSSUeOinkn. WlTSDD 

Tat 07T 3S5 1096 Far 071 495 3017 
MlEUNABEM 
34 Rate Raw. StMDBbnfQrtrt 
SkmjweOIM 
WSXBB2 FaeSSWI 
flHDflfi WMHIMH. s-e— *— 

3402 BukoMnarici'fcwK 12 Haraul Huai 
Cera* Ho? Kern 

M 052) 5220172 Fta(H&)5ZT1190 
KEVHI 
3501. 


AtmaratUw 

' ~ 2100. 


NnnnBaBCti,CA!SSEO.ItSA 
■5*{714)B43iM F*C {TM) BW 6W7 

AflCncRCvdai 


TOLL FREE 
UK 0300 269900 
USA 1 300 2834444 
1 S00 S8239SS 


66 


thought this was 
a radio commercial for 


E D&F Man Funds?” 



It was, but they couldn’t figure out how to 
include a coupon so people could write for more 
information. 

“Do you think they will? ” 

Well, the script sounds interesting... *One of 
the world’s foremost promoters of investment 
products... international group with a 200-year 
trading history... launched over 60 funds, created 
products with leading financial institutions”. 

“That’s it?” 

No, there’s more about combining outstanding 
performance with guarantees for investors who 
don’t like unpleasant surprises. And how the 
innovative nature of their products sets them 
apart., bit like this ad... then it says “CUT”. 

“ Does that mean cut out the coupon? ” 

I suppose it does now. 

If you’d like to know more about the unique investor appeal of our funds, just fill in your name and address or contact us 
at one of the numbers below. ED&F Man : Get in touch. 


, 

I Nome 
I 


j Address 


Country 
Fax No. . 


Home Phone No. 
W ork Phone No. 


Please provide your phone number so we may contact you to answer any questions you maj have regarding our services and to discuss our investment products, j 
ED&F Man International Ltd is regulated in the UK by the Securities and Investments Board. Mules and regulations made under the UK Financial Services Act 1 9SB ^ J 
do not apply to investment business cundueled outside die UK. = { 

l ’ I 

London; Diana Hill or Brian Fudge, Fax +44 71 626 6458, Tel. +44 71 285 5200. Bahrain ; Arthur Bradly or Antoine Massad, Fax +975 553 078. 
Tel- +973 533 '268. Rotterdam: Rob Engels, Fax +31 (10) 4 147 700, Tel. +31 (10) 2 134 049. Miami: Steve F, Phillips or Tamara J. Morn, 
Fax +1 (305) 530 902 1, Tel. +1 (305) 539 9700. Montevideo : Marcelo Cichowsky. Fax +598 (2) 97 01 70, Tel. +598 (2) 9701 9 1 . Tokyo : Matthew Dillon. 
Fax +81 (5) 5258 6527, Tel. +81 (5) 5238 6521. Hong Kong : Anthony Hall or Margaret Yao, Fax +852 557 1205, Tel. +852 521 2953. 


M 



ED&F MAN INTERNATIONAL LTD 

\ MITMItKA OK TIIK K II & t MW ('.mil P. KSTtHI.IMIMl W 178.1 


UrM 33 


\ 









Page 18 


INTERNATIONAL HERALD TRIBUNE. SATURDAY -SUNDAY, OCTOBER 22-23, 1994 


SPORTS 


Viking Defense 
ies Packers 



The Associated Pngs 

MINNEAPOLIS — Warren 
Moon still has not found the 
end zone against the Green Bay 
Packers. But. this time, he 
didn't have to. 

Minnesota’s defense scored 
its fourth touchdown of the sea- 
son on Thursday night and held 
the Packers to just 4S yards in 
the second half. Moon finally 
passed the Vikings to a tying 
field goal by Fuad Reveiz with 
17 seconds left in regulation 
and the winning kick 4:26 into 
overtime for a 13-10 victory. 

“They all don’t have to be 
real pretty," said the Minnesota 
linebacker Jack Del Rio. “We 
did enough to win. that’s the 
bottom line.” 

Thanks to the defense, Min- 
nesota (3-2) salvaged a game it 
seemed destined to lose and 
kept the Packers (3-4) from get- 
ting back into the NFC Central 
race. 

Time after time, the Vikings 
stuffed Green Bay, only to see 
their offense battered by the 
Packers' relentless pass rush. 

Moon was 20-for-45 lor 156 
yards with two interceptions 
and had been sacked four times 
— twice by Sean Jones — when 
the Vildngs took over at their 34 
with 5:32 left in regulation, 
trailing by 10-7. 

The offense had not been 
within 30 yards of the end zone, 
and had run just seven plays in 
Green Bay territory. But this 
time. Moon came through. 


He completed 7 of 10 passes 
for 58 yards before running 
back Am p Lee was dropped for 
an 1 1-yard loss and the Vikings 
settled for Reveiz’s First field 
goal, a 29-yarder that sent the 
game into overtime. 

Moon was 4-for-5 for 57 
yards on the First possession of 
the extra period, setting up Re- 
veiz's 27-yarder. 

“Oh, it was frustrating.” 
Moon said of Green Bay's de- 
fensive pressure. “When you gel 
that much heat it makes you a 
little jittery at times, then you 
start to throw the ball a little 
quicker than you want to. But 
we held in there. That’s what 
they pay me the big bucks to 
do.” 

Still, the Packers almost 
pulled even with Minnesota in 
the division race, and they near- 
ly did it after losing their quar- 
terback, Brett Favre, with a hip 
pointer in the first quarter. 

Favre was injured less than 
six minutes into the game when 
he was hit from behind after 
throwing an incorap letion. 

Two plays later, he tried to 
force a pass into coverage, but 
James Harris, a defensive end, 
dropped into coverage and 
leaped for his first NFL inter- 
ception. 

Harris, who scored Minneso- 
ta's only touchdown on a 13- 
yard fumble return in the sea- 
son-opening 16-10 loss to 
Green Bay, lumbered 25 yards 



Bobby Hurley’s Renewal 

Kings’ Guard Puts Dark Road Behind Him 


By Harvey Araton 

Se* York Times Semee 


To Hurley, whose ghostly 


accident, not good to have to i«> J'hj m resemble, a 
relive the experience, said paUorjnak^ a hlack-and- 


lint Mone. ' The - Aiwoakd Pms 

Sean Jones twice dropped Warren Moon, who was sacked four tunes, intercepted twice. 


before Favre swatted the ball 
free. It bounced into the arms of 
the Vikings’ Anthonv Parker at 
the 23. 


Parker, whose 44-yard inter- 
ception return for a touchdown 
sparked a victory over the New 
York Giants, ran untouched for 


the Vikings' 14th defensive 
touchdown in the last 35 regu- 
lar-season games, best in the 
NFL. 


SACRAMENTO, California 
— The new house rental is only 
10 minutes from Arco Arena. 
Most of the other players live at 
least a half-hour away. But 
Bobby Hurley wanted to reduce 
his driving time because, the 
truth is, there are moments 
when he doesn't much feel like 
getting b ehin d the wheel of a 
car. 

He always takes the freeway 
now, too, avoiding the flat, lab- 
yrinthian farmland roads that 
seem to stretch forever from the 
pastoral home of the Sacramen- 
to Kings. Hurley does noi want 
to see the intersection of Del 
Paso and B Centro again, if he 
can help iL 

He doesn't know or has cho- 
sen not to know those actual 
names. He calls the scene of his 
accident, the one that left him 
critically battered, face down in 
a water-filled ditch last Dec. 12, 
“That road.” 

Daniel WieJand, whose sta- 
tion wagon collided with Hur- 
ley’s sports utility vehicle that 
night and who the police 
claimed was driving without his 
lights, is referred to, somewhat 
disdainfully, as, “That guy.” 

The sports psychologist Hur- 
ley sees nas told him be is belter 
off without “that road” and 
“that guy” having any place in 
bis life. 

“It's just not good to bring 
out any of ihe feelings from the 


Hurley. 


black-and 


His 12 different injuries, 
ran g in g from collapsed lungs to 
broken ribs and resulting in 
eight hours of surgery, have 
bran catalogued and chroni- 
cled. Hurley doesn’t want to 
dwell on them anymore, or al- 


character from a 
white Dracula movie, 
seemed more enemy than 
friend He squinted frovracd 
and found a seat on a curb in 

the shade. . , 

He spent almost every day of 





uwcu uu man iuiymuic, ui vyui, . , ...;iU 

low himsdf to be teller over the ical therapy, working ou t tn 
hung jury that resulted from his father and high school cudett 
Wieland’s recent trial on at St Anthony of Jersey uiy. 


'He’s gone from probably being a moment 
away from death to having a good chance o 
being a fine player in the NBA. 

Geoff Petrie, the Kings* general manager 


Jimmy Who? Cowboys Don’t Miss Beat With Switzer at Helm 


By Timothy W. Smith 

New York Times Service 


The Dallas Cowboys have disap- 


pointed a lot of people in the National 


ootball League, people who expected 
them to fall apart. 

Here was Barry Switzer entering the 
season as an outsider on the inside. In 
replacing Jimmy Johnson, Switzer 
faced a monumental task. 

Johnson had fashioned this team, 
and this coaching staff, in his image. 
Both the coaches and the players were 
extremely loyal to Johnson. Some from 
both groups sneered when Switzer was 
named coach. Some sneered — even 
without knowing Switzer — just be- 
cause Johnson did. There were early 
rumblings that the members of the 
coaching staff, most of whom Switzer 
retained, were sniping at each other. 

But with six games down and 10 to 
go in the regular season, this team, and 
this staff, is hitting its stride. 

Dallas is 5-1 and alone atop the 
National Football Conference East 
going into Sunday’s game in Arizona 
against the Cardinals. Next are games 
at Cincinnati and at home against the 
New York Giants. Dallas could easily 
be 8-1 when its showdown in San 
Francisco arrives on Nov. 13. It is a 
familiar perch for the Cowboys. 

A peek at their last performance, a 
24-13 victory over the visiting Phila- 
delphia Eagles last Sunday, showed 
that the Cowboys’ staff is putting its 
players in excellent position io excel 


Ernie Zampcse, the new offensive 
coordinator, nas been keen and pro- 
ductive. The offense is clicking and. 
with this group, the best is likely to 
come. 

On the defensive side. Butch Davis, 
in his second year, has proved his 
worth. He may be the most underrated 
ingredient in the Cowboys’ success. He 
designs an aggressive style of defense, 
and he allows his players to go for the 
football, to swipe it. strip it, lake 


NFL MATCHUPS 


Toss in Swiizer and his ability to let 
his coaches coach, to keep unity 
among his players, to keep unity 
among all. and the job he has done so 
far is nothing short of superlative. 
Switzer can schmooze and sweet- talk 
and lap dance with reporters and pul 
out fires with the best of the coaches. 
He has always had that ability. 

That he has been able to do it in 
Dallas under such extreme fire easily 
makes him an early front-runner for 
coach of ihe year. 


chances and make big plays. Of course, 
it helps that his players have so much 
speed and so much talent. 

Randall Cunningham observed af- 
ter the Eagles' loss that the Dallas 
players are young and very close in 
age. He said that provided’ a special 
unity for them. In many instances, 
they think alike. They act alike. They 
are brash and confident. They talk 
trash. They deliver. 

Now the Dallas coaching staff, espe- 
cially the defensive staff, which orches- 
trates the league’s No. 1 -ranked de- 
fense. is following suit. 

“This is our second year together as 
a group, our second year of working 
games and making rails and getting 
that experience.” Davis said. “There is 
no substitute for that. Now we are 
more familiar with who contributes 
what to the staff, who to look for in 
certain situations for advice. We’ve 
meshed real well.” 


Dallas (5-1) at Arizona (2-4): Troy 
Aikntan has completed 65 percent of 
his passes in 14 of the last 16 games. 
Steve Beuerldn has thrown junI 2 
touchdown passes and 8 interceptions. 
Cowboys were head and shoulders 
above Cardinals two weeks ago when 
two learns played, and not much, has 
changed since. Oddsmakers favor ihe 
Cowboys by 811: points. 


New York Giants (3-3) at Pittsburgh 
(4-2): Steelers lead NFL in rushing 
with 148.7 yards a game, but Barry 
Foster is out with knee injury and will 
be replaced by Byron (Bam) Morris. 
Giants' quarterback Dave Brown has 
thrown 7 interceptions in Iasi three 
losses. Giants by 1. 


Chicago (4-2) at Detroit (2-4): Barry 
Sanders’ 5.2 yards per carry leads 
NFL; Bears have one of the worst run 
defenses in league. Quarterback Erik 
Kramer, out three games with shoulder 
injury as Steve Walsh guided Bears to 


three victories, is back but rusty. Lions 
by 3‘*. 

Cincinnati (0-6) at Cleveland (5-1): 
Bengals have scored just nine touch- 
downs this season. Browns have given 
up just three at home this year (1 
rushing, 2 passing) and just I in three 
games. Their defense has allowed just 
39 points during four-game winning 
streak, while Bengals’ offensive tine 
has allowed 21 sacks this season. 
Browns by II. 

LA. Rams (3-4) at New Orleans (2- 
5): Quarterback Jim Everett will face 
his former team behind offensive line 
that has given up just six sacks this 
year. Saints' defense will get a load of 
Jerome Belli*?: w‘ho rushed for- : 2 12- 
yards against New Orleans as rookie 
last year. But Rams have not scored 
more than 19 points in a game this 
season. Saints by 3*i. 

Seattle (3-3) at Kansas City (4-2): 
Seahawks have eight players with I or 
more interceptions. But Joe Montana 
found his magic touch again last Mon- 
day night, while the Seahawks are still 
looking for the formula they used so 
effectively the first couple of weeks of 
season. Chiefs by 6 1 :. 

Washington (1-6) at Indianapolis (3- 
4): Redskins’ Henry Eilard leads NFL 
in receiving yards with 680 on 34 re- 
ceptions, Colts’ Marshal! Faulk leads 
league in yards from scrimmage with 
838, Redskins have been run through 
by Dallas (142 yards), Philadelphia 
(193) and Arizona (151). Colts by 7. 


Atlanta (4-3) at LA. Raiders (2-4): 
Falcons have potent passing attack 
that will challenge Raiders’ secondary. 
Andre Rison’s six. receiving, touch- 
downs tying him for first in NFL with 
Jerry Rice. Jeff Hostetler faces an op- 
portunistic Falcons secondary that has 
15 interceptions this season, and Raid- 
ers have scored on just 8 of 14 trips 
inside opponents’ 20- yard line. Raid- 
ers by 5. 


Denver (1-4) at San Diego (6-€): 
Stan Humphries' 8.38 yards a puss 
play is highest in league and his 1.3 
interception percentage is lowest, 
while Leonard Russell's six rushing 
touchdowns tie him for AFC lead; In 
Season opener - 'between' flMfse'HWo 
teams, Denver led by 24-6 in second 
uarter and lost. 37-34. Chargers by 


charges of reckless driving. 
That was last season. That was 
survival. This is renewal 

Inside Arco Arena the other 
day, in the middle of a raucous 
scrimmage, there was Hurley 
dabbling the ball near the top 
of the key, looking into the eyes 
of another Sacramento guard 
named Randy Brown. 

Just as Brown relaxed, think- 
ing Hurley was going to pass 
the ball. Hurley darted right, 
stopped in his tracks, then 
surged left, into the lane, to the 
basket. Brown lost in bis tan- 
gled $200 basketball shoes. 

For the record. Hurley's 
layup rolled off the rim. For the 
moment, no one cared. 

“That’s exactly what you 
look for,” said Geoff Petrie, the 
Kings’ new general manager, 
from behind the far basket. 
“With all you heard about the 
injuries to the knee, to the 
shoulder, you ask: ‘Can he 
make the' turiiVlo cross over? 
Can he beat his- man off the 
dribble?’ ” 

Somehow, and somewhat mi- 
raculously. say the doctors who 
treated Hurley, the answer is 
“yes.” It is, of course, presea- 
son, and Hurley is essentially 
reprating a rookie year that was 
falling considerably short of ex- 
pectations. He is still only 6 
feet, a taut but movable 160- 
plus pounds. He still has to 
prove he can consistently stick 
the jumper. 


Bobby Hurley Sr., or testing his 
healing shoulders and knees in 
summer-league competition. 


“Four months ago, 1 got on a 
treadmill, got my heart rate up 
to 180, ran a 10-minute mile 
and was absolutely spent,” said 
Bobby Hurley Jr. “That day, 1 
said to myself, ‘How am T going 
to run up and down the court in 
the NBA if I can’t do better 
than a 10-minute mile?’ ” 

The sports psychologist con- 
vinced Him to not let the events 
of one bad day distort his view 
of the big picture. He pushed 
through setbacks, through de- 
pression. Funny how that 
works. 


A year ago, one bad day, a 
few silly turnovers or blown 
jumpers, would crush his self- 
confidence for at least a week. 
He admits he didn't deserve to 
be the Kings' starting point 
guard last season. He realizes 
his rookie season was headed 
toward failure. 


“I see it differently now.” he 
said. “I feel more relaxed, more 
confident” 

He is not just the famous 
point guard, the highly touted 
No. ! draft pick from Duke, 
anymore. He is also from that 
dark night out on Del Paso and 
El Centro, fighting tremendous 
odds, greater odds than when 


he was a Jersey City runt who 
ring he would never 


kept hearing 


qu: 
6 % 


, ncs gone from probably play big-time college ball, much 
being a moment, away from less 3 pro . Maybe this is 

more his style, proving doublers 


Tampa Bay (2-4) at San Francisco 
(5-2): Bucs’ Craig Erickson has thrown 
just one interception this season, but 
49ers lead league in scoring with 196 
points. Steve Young and 49ers have 
got their act together. 49ers bv 16. 


Houston (1-5) at Ruladelphia (4-2): 
Oilers have committed twice as many 
turnovers ( 12) as they have created (6). 
Eagles are tied for third in league in 
sacks with 19. Also. Eagles are one of 
two teams Houston has never beaten 
(the Giants are the other). Eagles by 


Open dates: Buffalo, Miami, New 
England, New York Jets. 


death to having a good chance 
of being a fine player in the 
NBA,” said Petrie.. 

“Did I think he'd be here 
now?” said Garry St. Jean, the 
Kings' bead coach, repeating 
the question. “Let me tell you 
what I was hoping for his guy as 
late as the summer. I hoped he 
could live a normal life, and 
that he could- -just dream -of 
playing in the,NBA again.” 

A half-hour after practice, 
Hurley strolled outside the are- 
na, into the parking lot, where 
the cloudless sky, mild tempera- 
ture and low humidity made 
even this sea of concrete feel 
like a fine slice of paradise. 


wrong. 

“December 3, that’s one I 
have circled,” Hurley said, back 
on his feet in the Arco Arena 
parking Iol Almost a full year 
from the date of the accident, 
that is when Hurley will play in 
New Jersey, when the Kings 
visit, the Nets.. .He. knows that 
will be some night. 

Walking toward his car, for 
the 10-minute ride on the free- 
way home. Hurley stole a mo- 
ment from his grim, indoor 
struggle, and allowed himself a 
smile in the bright afternoon 
sun. 


DENNIS THE MENACE 

. " V 7 1 win 

^ , i Jit 


PEANUTS 


CALVIN AND HOBBES 



I can't BELIEVE i'm SITTING HERE IN 
THE DESERT LISTENING TO A ROCK TELL 
ME THE STORY OF HIS LIFE.. 




CALXlH, YOU LET ME 
BACK IN DC HOUSE 
Zr. THIS 0Si MTS 



Pont woww, rdsxlin; 
TUEPE5 ONU( l SOX CHANCE 
CF RNMTOWUT/ HA HA.' 


SHE5 TWllNft \ ITS Ofc. I 
TO OPEN THE ALREMH 
DOWNSTAIRS I LOCKED 
WINDOWS. / W- 



OPEN 7 H ej **■' 
UP THAT 1 wwsiNtwR 
DOQpT/ 1 nkse? win d 



GARFIELD 


’tV LEARNING H0Ml TC 1 COOK. HE ALREADY 
WAKES A PRETTY 2000 ICE OISE ' 



„ C0U&H 

dXCOUUUSH 

py +MCM 


t SWSS iS-2 2 



HAW 


COUGH 

COUGH 


J Wk. H0CK-5 


HOCCCCH - 

HACK COOGH 


> V- ■ 1m. P*«-ni ! *** 


901) PONT CARE \ HOW'S A 
FOR Th£ OUTDOORS . ) TO 
PO VOU? BREATHE 

WITH ALL 
itnO V l that FRESH 

AlR OUT 
THERE?/ 




WIZARD of ID 


CAH 1 HELP rr 

IF I WALK nice 
A VLuedAYf 


BEETLE BAILEY 




ZERO, YOU 
LEFT THE 
POOR OPEN 


GO RACK AN 7 
CLOSE ITANI7 
KEEP IT 
CLOSES? i 


-i~ jfjn □; x. x. l i.Q J 


l< mw r» Mondayl 
t ionrutl HAYQG EU*B MTEBt WWE 
'tntffil.s j l|im Ti* wn d Mi ion* KVwlwd — 
CHWU0CD 



THE FAR SIDE 


BLONDIE 


DOONESBURY 


To oor readers in France 

it’s never been easier to subscribe 
and save with our new toll free 
service. 

Just call us today at 05-437-437 


UHOH'CHAPACrBXkm: 6 
ALMJ&QiEP.,AWWBS71lL 
HA\S •MCPMflF$1CGQ , S&* 
IBILMB T&SHFHURNBSSr! J| 


THAT JUST lgA1/B&£friZENSHIn 
THAT MORAL JUJUT/SO 
S&etntAL TO RJNCThTN- 
!N&OFAW‘5LCc&&FVL 

COfiWtffMY A*F NATION... 


awn? avzxNMF’rrspaNG \ 
'xmsHAJG, esnrnmxis? 

mi<KlE£FSt# &&!€£. uXi- 

teems xssa.Gze&-Au. th£ 
TFAPtTi twit HALUB9CF- 
7rS Oe^OCAArnCF^FTTi' 1 




(PSf/.iUdtal 


ALTHOUGH tOUDiP 

MFARNS&, ft! YOU 

TheGOEAl*} &?rfiaiRi- 
t&S&iN- 

THxe wtuaoi \ __ 






I've eor kino op a 
PROBLEM .CAD.. 


I NEED MOSE MONEY... ' 

but nenes no way t 

CAN GET A JOB,,. 





t ‘ !*.'-» 


TMvt 

V J 

V* 


.-■■T 
'.ft 
A ;«) 

i 

S 




•--** » 

* 


U -Ml 
•1 aS£t 
-T- m 


heboard 




-*** 


-**1*1 

t, 


■« ■':» 
y>‘ -s » 


I 


■m 


a 


-I s 
I to J. 


■XT** 


m 

I 


w MAI 



football phactice takes 1 
AU. afternoon, and I 
NEED NIGHTS ROB 
STUDYING 


SO VW5 SO 

r«e ANSWER Y WHATS the 



Fortunately lor Sparky. Zeke knew the famous 
"Rex maneuver." 






' .. SPORTS 

NHL Players Flock 
B ‘‘hi» (1 fe - 2 b the Old Frontier 


TRIBUNE, SATUKDAY-SUNDAY, OCTOBER 22 - 23, 1994 


Page 19 


C\v; -t ■ •: 


*?«!•, \. 

t.i 

:r: 

> »U«.- 

itlii)).. 
frant ii 
* *'*» «’ 

\\ . 

hJ 1 1..*.- 


■ '• i. ^ 1i t. ft 1 . 

;• "■ -':i : \ L % 

; i.,* 1 

r* 

' ' 1 •• ji: .... 

/r-^t 

..... -•■a- 1 

>• .’ "• 

• ' 1 ,4: ' 

- ”■*» .* 


n»r uuUi \yv\; 

Hiu tUj . Tr 


invjilj. 
Mt W.r 

f ■'ihv-., 

Hw-i 

hr 

he. <»v . 

»UH.M 

ifeift 

iHc • 
!'.■ lU 

« Iji:- 

rv 

Jin ^ i 
1 ;l“.r 

» *. 
iK- ih-.- 
frtfljT. 

sul l*i. 
-n 

W h. 
f?»ll 
« ih. 


.... '“'■bis 

. 

:/ 

*.!• 

k .ij..,. Jr ,^. 

-^i* 

X! ' ’ * ^ 

• •' • 

* :-c‘* 

i;: 1 * ■;■**** 

■■ 

i-^.u rx! C{ H 

, ' 'l ■'■■■' '• ‘"v rjiic 

■*' ’.k.l'Vl , t ,v jj. 

• :l. V. W.'ISrti wilbb^V 

• *' ■;■■ 'Wscfi 

■■ V.:s, 

•' "■ '• ’.I : 


.v>-.v; si. ■ ... 

.'.it I'iv : 

f '•■’iBP 

V: L 

. 1 ' 

•r. !■. ,v: 

**• 4; .• <« •• 1 

- . ■ .. . -iiC 

■** ^ • • • *. 

; \.i lh ' 


The Anoctoied Pms 

STOCKHOLM — With Na- 
tional Hockey League players 
continuing to return to Europe 
because of the lockout. Mats 
Sundin of the Toronto Maple 
Leafs has been cleared to play 
in Europe’s top league. 

The Canadian Press reported 
that the NHL is now planning a 
78-game season. 

Robert Reichel of the Calga- 
ry Flames, who became the sec- 
ond NHL player to rejoin the 
German Ice Hockey League, is 
to play for the Frankfurt lions 
this weekend. Forward Josef 
Stumpel of the Boston Bruins 
returned earlier this week to his 
old dub, the Cologne Sharks. 

Several Czech players have 
returned home, and Stanislav 
Burdys, chairman of the Czech 
Ice Hockey Federation, said, 
\ “It’s loo bad that there are 
^ problems in North America but 
it would definitely be a plus for 
us to have players like (Jaromir) 
Jagr, (Martin) Straka and (Rob- 
ert) Rachel in our league.” 

Straka, the Pittsburgh Pen- 
guins’ first pick in the 1992 
draft, is to play for his former 
tftarn, HC Plzen, this weekend. 
Defenseman Frantisek Musi! of 
the Calgary Flames should see 
action with Sparta Praha within 
the next few days. 

Sundin was cleared to play in 
the Swedish League when all 24 
players of the Djurgarden dub 
voted in favor of hxs returning 
to the Stockholm team during 
dtelodbouL 

Sundin, who became the 


NHL’s first European top draft „ 

E ick in 1 989, said, “It's going to &< 
b a lot of fun, espedally since 
all players support me. That 
was the most important thing.” 

But goalie Tommy Soder- 
strom of the New York Island- $;] 
ers turned down an offer from 
Djurgardea. 

“I don’t like the idea of hav- 
ing NHL players in Sweden,” 
Soderstrom said. “It’s unfair to 
a team that can’t sign NHLers.” 

Defensemen Tommy ATbelin 
(New Jersey) and Arto Blom- 
sten (Winnipeg) and forwards 
Mariusz Czerkawski (Boston) 
and Johan Carpenlov (San 
Jose) have expressed interest in 
playing. But Djurgarden offi- 
cials, citing high insurance fees, 
said they do not expect to sign 
them. 

Vasteras, another team, vot- 
ed unanimously in favor of the 
proposal Tuesday. Vasteras 
hopes to sign Detroit Red 
Wings defenseman Nicklas 
Lidstrom, who returned, to Swe- 
den on Wednesday. 

Quebec Nordiques rookie Pe- 
ter Forsberg hoped to get the go 
ahead from his old Swedish 
team MoDo this week. 

He returned to Sweden more 
than two weeks ago. 

In Finland, Chicago’s Christ* 
tian Rimttu, who was playing for M 
Hdrinki IFK, was hit in the face 
by a stick six minutes into the 
game against the Jokerit team of ^ 
Los Angeles’ Jari Klim and ^ 
Winnipeg's Teemn Selarme. 
Rimttu lost three teeth and need- 
ed more than 10 stitches. Bi 



CRICKET 


IBOARD 


SECOND INTERNATIONAL TEST 

ZNntabw* ■». M unto 

Efldar. hi Beiowvra 
ZfenbaMw Flrsf I nr loss: 4274 
lovnmlaM 2W ■*) 


NBA Presort on 

nmtart Somes 
tPartland 131, Boston 1M 
*Now Jomrr 1T7. Detroit 112 
Dodos la Indiana VI 
Scm Antonio 121 Milwaukee lov 


TENNIS 


LYON OPEN 
Q uur to rHu t di 

Marc Roniot (Si, SwUnrlaML dot Wayne 
Ferreira (3), South Africa, 74 (7-0. 74 17-C; 
Andrei Otosnokov, Ruaria det. Vevwny K0- 
MnHiW a>, Russia, 5 - 7 , 74 tW», H; Jltn 
Courierrtl.UJ-deC 00001 Rou*.Fran6t*3r 
34 . 74 C 7 - 31 - 

CA TROPHY 
in Vtom 

Goran leanbwte tl), Cntokw del. Ann 
Thoms, Germany, 34 , 74 ( 7 - 5 ), 74 ( 7 - 1 ); 
Thomas Motor ( 4 ), Austriordot. Petr Korda 
-IS), Czech RepuMK. 74 fr- 3 ), M; Mlctiael 
Sttdi ( 2 ). Gammy, det. JanSlemorlnk. Ne»- 
ertandA 44 , 7 * 7 * 

SALEM OPEN 
la Bellied 
Qourtor fl nets 

Mkhoel Charm ( 1 ), UA, det Atomnder 
Mranz, Germany, M, M; Anders Jarrvd. 
Sweden det Atoert ChanaCanaAi 5 - 7 , 42 . 5 - 3 ; 
DawW Adams, AuetroNa det Tomas NvdahL 


Sweden 5 -X 14 . M; Brett Steven, New Zea- 
landdet Andrei Dlhovskly ( 5 ), Rmtoa 5 ^ 44 , 
U. 

MARLBORO TENNIS CHAMPIONSHIPS 
In Kona Kano 
QMwternoatt 

Stolon Ertocni. S wede n , dot JocenElMnoto 
Netherlands, <4 Todd Morhn. U.S, det 
Magnus Larsson, Sweden, walkover; Pete 
Sampras. tUL det Paul Hoorhuis. Neitisr- 
kmds,A-l, 44 ; Richard Krai IceLNetherlands. 
det Send Bnisuera, Spcdn, W. 24 52 . 

USTA HARDCOURT CHAMPIONSHIPS 
SemHMs 

Traev Houfc-Kuhn ( 4 ), Rancho Cordova, 
Callt, det CvnHda MocGrtOnr ( 1 ), New 
Brauntois. Texas. 43 , 50 ; Fran OwncBer |B. 
Jackson, Tent, deL Judv Newman ( 3 ), Dan- 
vaio, Ca«, 74 ( 741 . 4 - 1 . 

BRIGHTON INDOOR TOURNAMENT 
quarter B mds 

Jana Huvut i w ( 2 ), Czech Republic, def. Ko- 
torlna Mdeevcb Bulaarla. «4 52 ; Helena Su- 
kowa, Czech RtwMIcM. NanwHe Tauzto, 
France 54 , 74 ; Julio Hcdard ( 21 . France, det 
Melto BabeL Germany, 54 51 . 


CLEVELAND— Stoned John Kart, general 
manager, to 5voar contract extension. 

MILWAUKEE— Exorcised 1VK option on 
the contract ol Ricky Bones, pitcher. 

OAKLAND— Oedtnedto exercise their 1WS 
contract option an Dennts Ecfcersfev.pllcher. 
Declined to otter solanr arbitral k» to Bab 
Welch, pitcher, making hkn effulMe tor free 
agency. 

TORONTO— Declined to otter salary artrt- 
Iratton to Danny Cox and Dave Stoworl,pneh- 
era. and Dick Sdwfletd. shortstop, mauna 
them eUolMe tor free agency. 


WHAT’S "AILING” YOU? by Cathy Minhanser 


W T-S • 

ki'T-i’** 


/ ^ 


' ji 

Mt, 


ACROSS 
1 60’S teens 
5 Bit of kelp, e.g. 
9 Italian wine city 
15 Pioneering 
hypnotist 

19 Drop 

20 Where the kip is 
_ currency 

Rollup 

22 Runout ^ 

26 Goad 

27 Haughty look 
2* Body passage 
29 Homed vipers 
31 Deutschland 

song 

52 Transporting 
white 
envelopes? 

57 Cartoonist 
Browne 

40 Witticism 

41 Mitigates 

42 Erstwhile 
catalogue 

46 Opposed, in 
oaten 


48 Farm alarm 
52 Kind of tunnel 
55 Dethrone 
55 fll effect of 
some rock? 

59 Long Island 

Sound city 

60 Nightclub 

61 Dummy 

62 Singer Tennille 

63 Dappled 

64 Saying 

66 Mcditerranee, 

e-G- 

68 Hits the hay 

70 Chemical 
endings 

71 Gold mine for 
brew lovers? 

74 Author 

Umberto et al. 
76 Imagine 

78 CBer’s “bear" 

79 Porky Pie’s 
girlfriend 

82 Stage doings 

84 Eighth-century 
Chinese poet 

85 East Lansing 
sch. 


s 

\ % 

tin. 


^ TyRTTA AIR LINES 

Tod'lL Lori Tai W*r W* lit 1 — 

DESTINATIONS 

COMPETITION 


r > 





^ WIN FIRST CLASS TICKETS'. 

.4 V A LOOK WTODAVS PAPER 


87 Beauty parlor 
procedures 

88 Showy wrap 

89 Result of too 
much filing by 
the manicurist? 

92 Where the bees 
are 

93 A Dionne 

95 Some smiths 

97 Leeds’s river 

98 Low-lying areas 

99 Expanse 

102 Brit, lexicon 

104 Classicist's 
subj. 

105 Direction to the 
special effects 
g°y? 

Ill Deposit 

114 “Good Luck, 
Miss Wyckoff 
writer 

115 Appear 

116 Wonderland 
cake message 

120 Nitrogen 
compounds 

122 These may have 
been given tr» 
Ishmavl? 

126 Kind of wheel 

127 Canoonisi 
Peter 

128 King’s jJtlresk 

129 Rombaucrof 
cookbook fame 

130 Drops of water, 

131 It’s “east" ol 
Toledo 

132 Chuck 

133 Australian 
hoppers 

DOWN 

1 Liverwort kin 

2 Arabian land 

3 Joint 

4 Beef on the 

hoof 

5 Garment under 
a chasuble 

6 Lambaste 

7 Convicted 
crime boss John 

8 Pale 

9 Mil. post 

10 Latin possessive 

11 “The Crucible’ 
happenings 

12 “Maybe” 

J3 Bright group 

14 River of 

Somersetshire 

15 Bee participant 

16 The south of 
France 

17 Perry’s creaior 

18 Saxophone, e.g. 


IS ■ 7 U 


[9 ho 1 11 1 12 X 113 [» 1 17 lu 


fiiel hir ins |iu 


h® l l«J 1124 


©New York TmeJ&Btedby Will Short;. 


24 Recipient of a 
beating 

25 Physics unit 

30 Canadian chiefs 

33 Sewer worker 

of 50’s TV 

34 Eponymous 
British Bobby 

35 Swiss rivtT 

36 Danish writer 
Dinrsen 

37 Sn tears 

38 Light 

39 Play an 
amorous 
detective? 

43 Where the 
criminal seaman 
ended up? 

44 Martha of 
“HcDzapoppin" 

45 Inuit 

conveyance 
47 Some fishermen 

49 CLA* once 

50 Indecent 

51 Saved for future 
viewing 

52 Third-century 
date 


54 Emerge 

56 Secures with 
scat belts 

57 Broke clods 

58 Successful 

63 Caesar’s money 
65 Range 
67 Fox sitcom 
69 Put a new point 
on 

72 Artist’s 
workspace 

73 Non-inlic 

75 Notched range 
77 End in 

80 Slip remover 

81 To date 

82 Slumbering 

83 Robin Cook 
book 

86 Lii tie; Suffix 

89 Actress Vima 

90 Print indelibly 

91 Actress Talbot 
94 Map 

explanations 
96 Gadabouts 
99 Lacrosse squad 

100 Jamaican music 

101 Muslim moguls 
103 VieT preceJer 
106 They hold tight 


107 “-y" equivalent 

108 PanofLCM. 

109 Sun: Prefix 

110 Mr. Arafat 

111 Reindeer herder 

112 Sheik Abdel 
Rahman 

113 Conn of^ 

“Benson" 

117 Byway of. 
ofd-stvlc 


118 Office note 

119 Those, tojuanit 

121 Hackberry.for 
one 

123 Bang maker 

124 Me, it’s often 
said 

125 jazzman 
Montgomery 


Sotatkni to Puzzle of Ocl 15-16 


L3LJLI15LILJ UUUUUL3 UtlJtdLJUU 
LIUUUBa UULUMlLiD LJLCLI1C 

auaidULI □□□□□□□ BEDDED 
aaapaaaidiJUQUEELiD deed 
□UUUL3E DEDED 

□□□ Laaau afsnuD eeddd 
□UL inaaaid uuddee ddedd 
□ iiuanno OBBcnB eeddee 
oiaaiaaD oaoao oededcd 
aana oqeqde qqdedd 
auauauau ouu dededddl 
□ liauuo UQEEEE DEED 

□aaaaoQ aaBDE beddee 
□ aaaaa aaaQno beecedc 
□ naaa nnonoD ddeboded 
□ aaoa odddd eedd dee 
aaaoQ odbedd 

□□OB □QHHnPQGQIJEDEEEE 
□aaana dcidqdqo ddeede 
naaniaa □□□dboe deeeod 
nmaaaa □□□hbe ddebee 




It’s Peaceful, if Not Sunny, in Golf 


■f. 

Petr Joadu Rouen 

Bexnhard Danger in Bohemia: A cap, sweater and shivers. 


Frost, for Second Day, 
Curtails Czech Open 


MARIAN SKE LAZNE, Czech Repub- 

lic — Gordon Brand Jr. led the field Fri- 

Czech Open, and olfidals had changed 
their minds on the duration of the tourna- 
ment 

Forty-four players had not completed 
their second rounds, but the tournament 
director, David Probyn, said there would 
indeed be four rounds played, as originally 
scheduled. 

After first announcing that there would 
be only three rounds, Probyn said the 
second round would be completed Satur- 
day morning, but only the leading SO and 
ties would make the cul 

Then there will be a shotgun-start third 
round, with a fourth round on Sunday. 

Weather permitting. 

Frost again delayed the start of play, for 
more than two hours, with half the field 
still waiting to complete the first round. 
That round was reduced to 15 holes on 
Thursday because three greens were un- 
playable. 

Brand, who said Friday was warmer, 
still had three holes left on his second 
round, winch also was being played over 
15 holes. He was six tinder par. 

Frank Nobilo had completed his second 
round in 59 for a total of 113, five under 
par, while Sam Torrance, suffering from 
tonrihtis, fell back to four under after 
playing 1 1 holes in one over par. 

• U.S. Qpen champion Ernie £ls said in 
Johannesburg that he will cut back on his 
globetrotting next year to focus on playing 
the U.S. Tour. Els said he only planned to 
play in a few European events, including 
the British Open. 


Fog Delays the Start ofSolheim Cup 


By Larry Dorman 

Afaw York Times Sen-ice 

WHITE SULPHUR SPRINGS, West 
Virginia — Here at the Greenbrier, the 
regal resort set amid the fall splendor of 
the Allegheny Mountains, there is almost 
nothing you can’t get. 

Unlimited golf (although. The Associat- 
ed Press reported, the first tee shot in the 
Solheim Cup was hit 40 minutes late Fri- 
day because of a fog covering the course). 
Herbal body wraps. Exfoliation. 

Sam Snead and his dog sometimes hang 
out in the pro shop, and Sam will give you 
a tip for a price. 

A mass Confederate grave lies near the 
Hilltop tennis courts. The curious can even 
squeeze information from locals about the 
top-secret nod ear fallout bunker built un- 
der the hotel in the 1960s to house mem- 
bers of Congress in the event of an attack. 

But with all of this, something is miss- 
ing. At this haunted old spot that traces its 
history to Civil War limes, something is 
missing from the Solheim Cup. There is no 
animosity. There are no disputes, even 
minor ones, among the female golfers on 
the teams from Europe and the United 
States. There is no controversy, no nation- 
alism, no xenophobia. 

Why, before the opening ceremony 
Thursday, the European captain Mickey 
Walker swept through the news media cen- 
ter and scooped up 10 miniature U.S. flags 
for her players to wear on the fronts of 
their blazers. The U.S. team captain Jo- 
Annc Camer had dinner with five of the 
European players. Whither nationalism? 

“I think there is a really good feeling 
between the te ams this week,” Walker 
said, “and I can’t really explain why." 

Maybe it has something to do with the 
gentility of the setting, or soothing dips in 
the sulphur springs. 


For whatever reason, there was nothing 
but sweetness and light leading up to the 
competition, which began with the alter- 
nate shot foursomes matches. 

Unlike two years ago at Dalmahoy in 
Scotland, where a published remark by 
Beth Daniel led to tabloid newspaper war- 
fare, much bad blood and an inspired 
victory by a riled-up European team, the 
third playing of the Solheim Cup definitely 
did not begin as a dvil war. A dvility war, 
perhaps. 

“These two teams are fairly even,” said 
Daniel, who still contends she was mis- 
quoted in the article that led to the Dalma- 
boy flap. In that story, which ran in Golf 
Digest, Daniel was quoted as saying that 
there were two European players who 
could play on the U.S. Solheun squad 
■while any player on the U.S. team could 
improve the European side. 

On paper, the United States fields a 
stronger, deeper team than the European 
side. That also was true in 1992, when 
Europe took a 2V&-1K lead on the first day 
and never trailed on the way to a 114&-6& 
victory. Bui this year the U.S. team has the 
added advantage of being able to use all 10 
players each day under an expanded for- 
mat This would give the Europeans cause 
to complain, if they were so inclined. They 
are not 

“There has been no negative stuff at 
all,” said Laura Davies. “There has been 
no nasty stuff. If you do that you set 
yourself up for more of the same. We've 
had a few little jokes with the Americans. 
The main thing is that we tell them not to 
touch our cup. 

That's as pointed as it goL That could 
change once the competition heated up, 
but for a day at least, there was no bunker 
mentality in either of the camps. 


H 1 ? 


lUNLV’s Latest; It’s Grgurich, Again 

LAS VEGAS (LAT) — Nevada Las Vegas doesn't have a 
patent on big-time college-basketball controversy, it only seems 
that way. 

The chaotic events of die last two weeks were seemingly capped 
Thursday night when UNLV reversed itself and offered former 
assistant Tim Gigurich a three-year contract to succeed the 
recently ousted RoDie Massunino as coach. Gigurich. a Seattle 
Supersonic assistant who believed he had a deal with UNLV 
officials Wednesday only to have it taken off the table, will accept 
the job, sources close to the negotiations said. 

Confirmation of the offer came less than 24 hours after Athletic 
Director Jim Weaver resigned and UNLV’s interim president, 
Kenny Guinn, said negotiations with Grgurich had ended. 

For the Record 

Eopbnd, Norway and Luxembomg have been each awarded one 
additional entry in the UEFA .Cup tournament next season for- 
fair play, the UEFA executive committee announced Friday. 
England had three teams this season. Norway and Luxembourg 
one each. (Reuters) 

Jim Riggleman was chosen manager of the Chicago Cubs on 
Friday, becoming the team’s 12th manager in 13 years. Riggle- 
man, 41, who managed the San Diego Padres for the last two 
seasons, replaces Tom Trebelhom, who was fired Monday. (AP) 

Shawn Bradley, the Philadelphia 76ers’ 7-foo(-6 center who 
missed the final 32 games of his rookie NBA season with a 
dislocated kneecap, has been sidelined indefinitely while doctors 
determine the extent of a new injury to his left knee. (AP) 


Mondesi Gives Dodgers 3 Straight Rookie Awards 


The Associated Press 

LOS ANGELES — Only a 
few years ago, the Los Angeles 
Dodgers’ farm system was be- 
ing heavily criticized. Now, it’s 
being praised. 

Outfielder Raul Mondesi 
unanimously won the National 
League's rookie of the year 
award Thursday, the third 
straight Los Angeles winner of 
an honor the Dodgers have 
dominated since its inception. 

“I want to say thank you to 
my teammates,” Mondesi stud 
from his home in the Domini- 


can Republic. “They tell me, 
*You've got to play hard be- 
cause you've got a chance to 
win rookie of the year.’ I played 
hard every day, that's why I 
won” 

The Dodgers have had the 
NL's top rookie 14 times since 
Jackie Robinson — for whom 
the plaque is now named — 
won the initial award in 1947 
with Brooklyn. No other NL 
team has won more than six. 

Mondesi, who batted J06 
and led major league outfielders 
with 16 assists, was the NL’s 


seventh unanimous winner. 
Catcher Mike Piazza also was 
last year; the Dodgers' first 
baseman, Eric Karros, won in a 
closer vote in 1992. 

Mondesi, 23, received all 28 
first-place votes in balloting by 
the Baseball Writers Associa- 
tion of America and finished 
with 140 points. Houston re- 
liever John Hudefc was runner- 
up with eight second-place 
votes and 27 points and Atlanta 
outfielder Ryan Kleso was third 
with six second-place votes and 
25 points. 


Mondesi had 16 home runs, 
56 RBIs and 1 1 stolen bases in 
the season that was halted Aug. 
12 by the players' strike. He 
also hit 27 doubles and eight 
triples and scored 63 runs. 

“Everybody knows I put up 
good numbers,” he said. “Eve got 
to take it fike that I don't worry 
about not playing 162 games.” 

Chicago pitcher Steve Trach- 
sel was fourth in the voting, 
with Montreal first baseman 
Cliff Floyd and San Diego 
pitcher Joey Hamilton tying for 


The IHT /Delta Air Lines 
Destinations Competition 


Here's How to Enter. 


Win Fabulous Prizes 

First Prize; 

Two round-trip Trans- Atlantic 


Test your travel knowledge! Each day for 1 8 
consecutive days, a clue describing a city to which Two round-trip T 

Delta Air Lines flies will be published. Using First Class tickets. 

Delta's Map, fill in the name of the city correctly Second Prize: 

for at least 12 of the 18 days and qualify to win. Two round-trip Trans- Atlantic 

Once you have at least 12 correct answers. Business Class tickets, 

put them in an envelope and send them to us 4 Third Prizes: 

with the completed coupon below. AT Cross, gold plated, diamond cut, 

Winners will be selected from an official roller ball pens, the Signature Collection, 

drawing. The first 10 entries drawn with the 4 Fourth Prizes: 

correct responses will be the winners. Gold Pfeil men' s wallets. 

Delta Air Lines' Destinations Map 

•• ; • • ' : ; ’,:StocW»lra 0 •' . QlWstaW 

. VS' 1 ;- t .AwWw..o7T^ f ni 


Oab&no 


Botin OWaraaw 


O Moscow 


ngkfurto^Sw 
untehO 0 VfenM 


Detroit O 
Cincinnati 


c^»w' 


o Barcelona 


°Btfcfa*nat 


oAttsrt* 
o Ortrifo* 


;V* r 

' V’ ' vOTd Aviv 


Offewsaa; 


DeJW O 


ovmmm. 


RULES AND REGULATIONS 


Airline tickets are norvtransferable and seats subject 
to availability. 

Travel must be completed by December 31st, 1995. 

Cut-off date is postmarked no later than November 
7th, 1994. 

Valid only where legal. No purchase necessary. 

Entries will not be accepted from staff and families of 
the IHT newspaper, Delta Air Lines, their agents and 
subsidiaries. 

No correspondence will be entered into. Proof of 
postage will not be accepted as proof of receipt 

No cash alternative to prizes. 

Winners will be drawn on November 15th and 
published thereafter in the newspaper. 

On ali matters, the editor's decision is final. 

The editor reserves the right in his absolute 
discretion to disqualify any entry, competitor or 
nominee, or to waive any rules m the event of 
circumstances outside our control arising which, in 
his opinion, make it desirable to cancel the 
competition at any stage. 


YOUR RESPONSE: 


so . Op** change 

As • m Scan din avia. 


[Name of City: 


JOB TITLE. 
COMPANY. 


POSTCODE. 


COUNTRY. 


Send coupons to: IHT/Delta Competition, 
International Herald Tribune, 

181 Avenue Charles-de-Gaulle, 
P252I Neuilly Cedex, France. 

jCcmlb ^au Sribmic. 

AdJEHAAIRUNES 

1.V-U ion Tzi lu W* fir* 











INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, OCTOBER 22-23, 1994 


DAVE BARRY 


Election-Day Issues 


The New City Park: A Pathway Instead of a Place 


M IAMI — Pay attention 
voters, because we are ap- 


voters, oecause we are ap- 
proaching Election Day, tne 
day when you, in a glorious af- 
firmation of the democratic 
process, will exercise your pre- 
cious constitutional right to 
elect some goober to Congress. 

Bui before you vote, you 
should familiarize yourself with 
the issues. This year there are 
four of them: 

1. HEALTH CARE: This is- 
sue got started when the Clinton 
administration (motto: “Tomor- 
row We Will Have a Different 
Motto") stayed up for 168 
straight nights and produced a 
massive and extremely detailed 
National Health Care Plan. 

This plan did fine until peo- 
ple actually read it, at which 
point it ran into big trouble, 
especially with the Republi- 
cans, who strongly oppose gov- 
ernment intrusion into private 
citizens' lives unless they 
thought of it first. So after 
many months of debate and 
modification. Congress has 
whittled the National Health 
Care Plan down to a one-para- 
graph nonbinding resolution 
urging everybody to floss. This 
resolution would not take effect 
until the year 2006. Bob Dole is 
still against it. 


2. CRIME: I am pleased to 
report that crime is no longer an 
issue. This is because Congress, 
after much huffing, finally 
passed a Crime Bill, which goes 
directly to the root cause of the 
crime problem, which turns out 
to be the same as the root cause 
of every other problem that the 
federal government decides to 
tackle, namely: The federal 
government was not spending 
enough money on it. The Crime 
Bill mil rectify this problem by 
requiring the government to 


don't know exactly how the 
government plans to spend this 
money, but 1 do have a propos- 


al. As I see it, the basic crime 
problem is that violent crimi- 
nals are r unning around whack- 
ing us innocent people over the 
head. Why are they doing this? 
BECAUSE THEY WANT 
OUR MONEY. 

So let’s say there are 3 million 
violent criminals running loose. 
Thanks to the Crime Bill, the 
federal government is now in a 
position to give every one of 
them $10,000 of our money, 
thereby eliminating the need for 
them to whack our heads. 

3. FOREIGN POLICY: For 
a description of our foreign pol- 
icy for today, please call 1-800- 

waver. 

4. THE BASEBALL 
STRIKE: As you surely know, 
the baseball season was can- 
celed, a development that, to 
judge from the many anguished 
newspaper columns written 
about it, was the worst tragedy 
to occur in this nation since the 
Civil War. 

I say it's time for the federal 
government to step in and re- 
solve this thing . Here's the situ- 
ation: There are 700 players 
and 28 owners, and they are all, 
at heart, deeply concerned 
about the future of the national 
pastime, by which I mean mon- 
ey. So all Congress has to do is 
— you are going to wonder why 
you didn’t think of this first — 
PASS ANOTHER CRIME 
B ILL This would provide an- 
other $30 billion, which would 
be enough to give every single 
player and owner approximate- 
ly $41 million, plus of course 
the S 10.000 bonus for those 
players or owners who are also 
violent criminals. 

The important thing is to do 
SOMETHING, because that's 
why we have a government, and 
that's why you, the voter, must 
exercise your semiprecious 
right, this Election Day, to cast 
a ballot. 

And while you’re at it, cast 
one for me. 

Knight-Ridder Newspapers 


Imernaiional Herald Tribune 

P ARIS — Public parks tell a lot 
about our history — the parks in 
London that were formerly royal 
land and that bring the country to the 
city. New York's Central Park de- 
signed as an enclave to keep the city 
from encroaching on an invented 
country, Paris parks that are made to 
be admired and walked through but 
don’t, for heaven’s sake, sit on the 
grass. 

“The French park is a promenade 
rather than a place to be in. The 
American park had the intention of 


MARY BLUME 


being a democratic park, a bastion. 
London parks were socially more re- 
stricted and spatially more open," 
says Diana Balmori, a leading land- 
scape designer who works only on 
public projects. 

In today’s fragmented cities, she 
sees new parks as linking neighbor- 
hoods and amenities; linear parks is 
the term she prefers, relatively mod- 
est-sized links "where the division 
between nature and hu man creation, 
between city and country, can be 
bridged rather than sanctioned.” 

B alm ori, who heads her own firm 
in New Haven and teaches at Yale, 
was in Paris for a conference on 
"Parks and Their Cities” at the 
American Center. Her own practice 
has taken her as far afield as Kuala 
Lumpur, Tokyo and Mexico City, 
and in Spain she is working on a plan 
to connect Bilbao’s 19th-century 
park with a linear river walk in a part 
of the city that has been emptied by 
moving the old port. 

In the United States, she is work- 
ing on linear parks in Minneapolis 

and Baltimore. The Loring Park pro- 
ject in Minneapolis involves redoing 
the city’s central park and laying out 
a linear park going through it — a 
cycling or w alkin g trail — that con- 
nects the old park to the rest of the 
city. 

Baltimore’s Gwynn’s Falls Trail 
will be 14 miles (22 kilometers) long, 
starting at a height of about 600 feel 
(180 meters) and going down to sea 
level at the bay. It involves 20 differ- 
ent neighborhoods, many with their 
own community gardens, will con- 


nect such facilities as railroads and 
museums, and follows a stream that 
runs through the city and at the pre- 
sent time gets everything imaginable, 
and unimaginable, dumped in iL 
"Regaining the health of the stream 
is pan of regaining the health of the 
whole environment," Balmori says. 

The idea is to transform the notion 
of the city park."Urban parks were 
essentially central parks. Now we are 
seeing urban parks as connectors be- 
tween city and country, nature and 
culture, between peoples of different 
o rig ins and culture, ages and sex.” To 
her, a park is an idea and not an 
object, the idea being for a good 
society, the linear park its blueprint. 

As the discussion of public space 
becomes increasingly important at 
every level, Balmori sees linear parks 
as modest spaces adapted to neigh- 
borhood use. "In different neighbor- 
hoods additional things can take 
place that suit the neighborhood’s 
needs — a space for small children or 
for senior citizens or for community 
events. The richness comes from 
placing it in an existing urban space 
through which it goes taking the col- 
ors. chameleon-like, from the places 
it passes.” 

Bom in Spain, Balmori grew up in 
Argentina where her father was 
studying Indian languages. From her 
En glish mother she inherited a taste 
for gardening; from her years in the 
United States she developed a dislike 
for the ecologically unsound Ameri- 
can lawn, the subject of a book she 
co-autbored that underlined the 
uniquely American reverence for the 
suburban lawn (58 million Ameri- 
cans tend 20 milli on acres of lawn, 
spending $25 billion annually in 
maintenance alone). 

"The American lawn is such an 
icon,” Balmori says. The book, "Re- 
designing the American Lawn,” sug- 



side the city’s walls there were gar- 
dens of people whip had nothing, no-, 
where to five. But there was no 
riesgppti nn, there were only descrip- 
tions of gardens that were inside the 
diy walls.” 

Linear parks include the excluded; 
poor as well as rich neighborhoods, 
b ringing urban space into the focus 


Diana Balmori: Bridging city and country*. 


but expense and an an increase in 
crime. 

“Local authorities do say that but 
the demand from citizens' groups is 
so overwhelming that they very re- 
luctantly go along.” 

Statistics on park crimes are unre- 
liable, Baknon says, because few 
studies separate the park itself from 
the neighborhood around it "But if 
you compare an area of park vis- i- vis 
the neighborhood that surrounds it, 
.there are fewer crimes in the- park 
than in the neighborhood." She 
agrees with the suggestion of Freder- 
ick Law Olmsted, creator of New 
York’s Central Park, that it is better 
to dose up parks at night than to 
light them and give an illusion of 
safety but does not think this neces- 
sary in linear parks. 

“These thing s are 25 to 100 feet 
wide, maximum, so it’s a very narrow . 
piece of land, a very modest piece of 
famL and I think there’s less likeli- 
hood of things happening because 
it’s like a promenade, people are go- 
ing to walk or bike. It returns to 
Ameri ca the possibility of going from 
one place to another, it's like a trans- 
portation corridor, so it’s not like a 
park in which people are there be- 
cause it's their destination," . 

Street furniture, planting and 


#' ■ .-i 

tin- M 

>1 

\ Vi, ( - ,r#M 







gests ways to transform manicured 
lawns into shaggy meadows, bird and 


fawns into sha ggy meadows, bird and 
insect sanctuaries, small forests, 
wildflower gardens and other natural 
forms. "It seemed important so that 
ecology doesn't just become some- 
thing that ecologists do." 

With the new emphasis on ecolo- 
gy, to what degree have urban parks 
and landscape design itself become 


merely one of its subheadings? 

"In one sense not enough in that 
there isn't enough training in ecology 
to transform landscape. In the other 
sense too much in that interpreting 
landscape design as ecological engi- 
neering is worthless. What landscape 
design has to be able to do is give 
form to create spaces that make peo- 
ple feel well when they are in them, 
spaces that revitalize people. If you 
are just doing ecology you may as 


well leave it to the ecologists." 

Balmori’s vision is not confined to 
bosks and vistas. In another book, 
"Transitory Gardens, Uprooted 
Lives,” with the photographer Mar- 
garet Morton she made a moving and 
respectful study of the gardens of 
urban squatters and the homeless. 

“To me it was something left over 
from graduate school where I was 
working on a medieval document 
from Spain that explained that out- 


lighting must all be rethought for 
linear parks. The urban park, Bal- 
mori argues, is going to be more 
important in the future, not less. . 

“It is the idea of public space so it. 
carries ideas about democracy, about 
the nature of human exchange, it’s so 
filled with idealism about democracy 
that it is much more an idea than an 
object I think linear parks are going 
to be an extension of that idea, 1 see 
them as the great hope for American 
cities.** 


: *« 

••-r -a w 


WEATHER 


PEOPLE 


Europe 


Forecast for Sunday through Tuesday, as provided by Accu-Weather. 


Coda Dei Sol 

Dltfn 

Etfnburgh 

Runuco 

FranMun 


Istanbul 
Liu Patna* 
Lfetan 
Union 
Madrid 

Mian 

Moocow 

Munich 

N«» 

Olio 

Palma 

Pom 


Si Poeratwg 
Sta*h*n 
Strasbourg 
Tafcm 


Today 
High Low 
C* C/F 
M/71 17/63 
14/57 11/53 
19/66 8'4fl 

7Zm 17/03 
23/71 17/63 
16*1 k'4fl 
14/57 7/44 

16*1 11/53 
13/55 BM6 
13/53 0/48 

33/73 IB/64 
13/55 7/44 

13/55 3/48 

IB/64 13/55 
1S/» B'Jri 

l*<6* 9«4S 

10*0 6/43 

19*6 14-57 
II® 23/71 
20-W 16*1 
15/59 11/53 
Ztm 13/53 
18*4 IJ/53 
9/48 4/39 
14*7 7/44 

33/73 14157 
9/48 6/43 

21/70 18*4 
19-86 11/53 
14/57 7/44 

8/43 3/35 

24/75 13/55 
1 1 152 5/41 

10*0 8/43 

16*1 9/48 

9/48 6/43 

16*4 13/55 
12*3 8/46 

14*7 5/41 

15*9 9/48 



Jctttmani 


tUnawMiiablv 

JCcW 


UntamcraUy 

Hot 


North America 

Showers will move away 
from thri Easl Coast Smfey. 
Dry. chilly weather will pre- 
vail from Pittsburgh to 
Boston Monday and Tues- 
day. Very chily weather will 
pkxige southward acmes 61a 
Great Lakes early next 
week. Strong winds and rain 
will reach Vancouver early 
next week. 


Europe 

A slow-moving storm will 
Uigger heavy rains across 
southeastern Europe this 
weekend Showers and cool- 
er weather will reach Beirut 
and Jerusalem early near 
week. Cool, unsettled weath- 
er wit) linger into early next 
week from Parts and London 
through Oslo. Rome will 
have nice weather. 


Asia 

Typnoon Teresa will move 
across the South Chna Sea 
Sunday approaching Viet- 
nam early ne*i week Tokyo 
will have dry weaiher Sun- 
day mlo Monday Rain * 
possible by Tuesday 
Typhoon Verne will bung 
heavy rams to the Ryukyu 
Islands Sunday into early 
next week 







High 


W 

High 

Low W 


C/F 

C JT 


OF 

OF 

Bangka 

39/04 

run 

Un 

ji/ra 

34<75 t*c 

P-W 

HrvigKun(J 

31 'TO 

7 '44 


<9 06 

6/49 si, 

36^3 



30-03 

31.70 s 


37 <60 

33/73 


30.06 

34/7T *h 


16-97 

17«? 


33/91 

16*1 1*: 

S/ri4 

19/66 

m/?o 


33/71 

I4.*i7 -Ji 

Si-melw 

18t4 

13 


,*il/68 

I3-93 pc 


J3-0I 

34.75 

sli 

33/09 

31-73 s 





36/79 


T--*>o 

73CI 

I44-.I 

► 

.-3/m 

I7-K- * 

Africa 

Algns 
' .*- 1-ymi 

33/71 

19/645 

ill 

30/79 

19 *6 pc 

1994; 

13 "1 

* 

75/7,* 

IrtW c 

C.tvnbb«<a« 


17/W 

5 

37 9.1 

16.101 pc 

Hir.u* 

3.1/73 

9/48 

5 

36/79 

3/46 r*- 

Inrp* 

23/IM 

34/77- 

i 

31/* 

34/70 r*- 

Hum*. 

34/79 

IT"* (V 

36/79 

IJW pc 

Iiira* 

74/76 

17 453 

sh 

7HIV 

14 -64 pc 

North America 


r.v 5 



A CTOR Sylvester Stallone swapped his 
screen weaponry for golf dubs and 
took on President Suharto of Indonesia for 
nine holes on Friday in Jakarta. They re- 
portedly played a "friendly" game without 
keeping score. Stallone was in Jakarta to 
open a Planet Hollywood restaurant, the 
first in Southeast Asia. The restaurant 
chain is owned by a host of U.S. film stars, 
including Stallone. Arnold Schwarzeneg- 
ger, Brace Willis and Demi Moore. 


Middle East 


Latin America 


High Low W High Low W 


28*4 22/71 * 29*4 23/71 1 

33*1 30*8 l 32*9 21/70 l 


29*4 15/59 1 30*8 16*1 S 
38*2 18*4 s 28*2 19*6 j 


Oceania 


3B/100 19*6 l 38/103 19*8 » 
36/97 23/73 a 30/97 23/73 , 


Today Tamonow 

High Low W High Low W 

or of of or 

BjanosAaaa 30*9 It/52 pc 30*8 11*3 pc 

Caracas 28*2 31/70 sh 29*4 20*8 pC 

Urn 21/70 16*1 pc 19/66 16*1 pe 

UencoOty 24/75 12/53 pc 35/77 12*3 I 

RxxtoJamfto 27/80 21/70 pc Z7*0 21/70 pc 

Santago 31/70 B/46 c 23/73 5'«1 pc 


Anchorage 

Art**, 

Booton 

Chcaoo 

CVmwr 

tVoiW 

HnUj 

Houston 
Los Argotes 
Itom 
Itrj teapofe 
Motvnl 
Nassau 
Nr* Hark 




iL 


17*3 11/52 « 18*4 11/52 pc 

33/73 14/57 s 37/90 15/59 * 


Logan cfc »-sunny. pc-oa/fty daudy. c-doudy. sh-snowers. Hhunflarawrms. r-rain. st-snow Burtes. 
sn-snow. Men. W-Weahor. AM mops, forecasts and data provided by Accu-Wewhar. Inc. 4 1998 


Son Fran 

Soon*. 

Toronto 

Warttogton 




Stallone vs. Suharto. 


The Algerian novelist Mohammed Dib 
has won the Francophone Grand Prix. the 
highest literary award bestowed by the 
Academie Franqaise. 

□ 

Luciano Pavarotti will give a concert 
Jan. 22 in Miami Beach during Super Bowl 
week. He’ll sing a solo program, then join 
Chicago Lyric Opera soprano Cynthia 
Lawrence for the first act of "La Bohfcme,” 
accompanied by the Florida Philharmonic. 

□ 

Evd Knievel dodged an accusation that 
he beat up his girlfriend, but the daredevil 
faces another hurdle: weapons charges. 
The police in Sunnyvale, California, found 


a small arsenal in his car^ including a .44- 
caliber, laser-sight Magnum and two 
knives, when they arrested him Oct. 10 on 
a complaint alleging he beat Krystal Keo-J 
nedy. She later dismissed the incident as a 
“tussle and-or wrestling match;’’ Knievet’s 
1 977 assault conviction bars him from hav- 
ing the weapons. 

D 

London is calling David Letterman, who 
mil take his show there in May for a 
weeklong series of broadcasts. “Late Show 
with David Letterman "has aired in Brit- 
ain since April. Some of the show will be 
shot on the streets of London. 


“Grace," a new unauthorized biography 
about Grace Kelly describing her as a 
femme fatale before her marriage to Prince 
Rainier of Monaco, has so angered the 


E 


palace that it is threatening legal action. 
The author, Robert Lacey, spent two years 


The author, Robert Lacey, spoil two years 
researching the book. Departing from its 
usual reticence to comment on books or 
articles about: the Grimaldi family, the 
palace said: “We are deeply shocked that 
someone, in the hopes of making money, 
could smear the memory of an admirable 
wife and mother.” 


-V 


Your stomach's 



■ • v _ ■ ■“?: ., : - >• . ^ ; v .;: 


* : '-V - 

. • V, . ■' * . . 

< ..46*44*4** 


-v& v 

*- v :< >< > •: . r. 

Nature’s calling. 


‘ . ^ •• j,,? > . 

* ■■■% 
•* ■ 






Your flight's boarding. 


Plenty of time to 



ten calls. > 




With AT&T USADirect* ami 
World Connect • Service, you can make 
multiple calls without redialing 
your card or access number. 


$ You're io a hurry. So we’ll be brief. AT&T USADirect and 




World Connect Sendee gets you fast, clear connections I ■ 


v;i ... . . 

back to the United States or to anv of over 100 other '' ‘ ! *v fc 

ik, 

countries. Also, an easier wav to make multiple calls. l^j - , . ~ 

»am 1 


Up to 10 in a row. Just dial the AT&T Access Number 


below for the country you're calling from. Your call 


will go through in seconds. Then, instead of hanging 


up after each call, busy signal or unanswered call, 


simply press the # button. In short, you'll spend less 


time dialing. And more time talking. Walt. On second 


thought, isn’t your flight about ready io take off?. ^ 


ASIA /PACIFIC 
AUSTRALIA 1B00-8S1-011 


CHINA, PRC*** 
HONG KONG 
INDIA* 
INDONESIA* 
JAPAN*. 

KOREA 

IMiAO 

MALAYSIA' 


ioni 
800-1111 
000-117 
001-001-10 
0039-111 
009-11 
WO HI 
800-0011 


NfcWiEALANO 003-911 

PHILIPPINES- 105-11 

RUSSIA ’t (MOSCOW) 155-5842 


SAIPAN' 235-2872 

SINGAPORE 300-011 l-l H 

SR LANKA 430-130 

TAIWAN* 0080-10268-0 

THAILArtO* 0019 991-1111 
EUROPE 

ARMENIA' r 8014111 


AlOTRIA-m 

BELGIUM' 

BULGARIA 

CROATIA** 

CZECH REPUBLIC 

DENMARK* 

FINLAND 1 . . . 

FRANCE 

GERMANY 

GREECE’ 


022-903*011 
0*800 ’100-10 
OO-IBOD-OOIO 
H-58-0811 
00-420-00101 
. . . .9001-0010 
9800-100-10 

iK-aaii 

0130*0010 

0O*8M*1311 


Huwyurr 

KBXND-a 

IRELAND 

ITALY* ... 

LIECHTENSTEIN' 

UTHUAiOA* 

LUXcM&OURG 

MALTA 

MONACO', 

NETHERLANDS' 


000-800-01111 

909-001 

.1-000-550-000 

172-1011 

155-00-11 

82198 
0-800-01U 
0800-690-110 
19')- Mil 
06-022*9111 


NORWAY 
POLAND**'* . 

PORTUGAL* 

ROMANIA 

SLOVAK REP... . 
SPAIN. . . . 
SWEDEN' . . 
SWITZERLAND' 
UKRAINE'. 

U.X. 


800-190*11 

04010-480-0111 

05017-1-288 

.. ...01-800-4288 
. 00-420-00101 

900-99- 00-11 

029-798-611 

155-00-11 
80100-11 
. 0500-89-0011 


MIDDLE EAST 

BAHRAIN 6M-QQ1 

CYPRUS* . OSP.SffllO 

EGYPT* (CAIRO) 1 910-0200 
ISRAEL 177-190*2727 

KUWAIT 800-rsa 

LEBANON (BEIRUT)' 426-BOl 

SAUDI ARABIA .. . I -600-1 p 
TURKEY' 00-800-12277 

U ARAB EMIRATES' RO-IZl 


AMERICAS 

ARGENTINA* 001-800-200-1111 


Mima*. 

BRAZIL 

CANADA 

CHILE* 

COLOMBIA 

EL SALVADOR'.* 

HONDURAS'.. 


O-4D0-1U? 

000*8010 
I -900 -575-2222 
004*0312 
980-11-8010 
190 
123 

95 800-162-4240 


PANAMA.. IDS 

Pfflin* 191 

VENEZUELA*. N-fllT-120 

AFRICA 


TrueWorld'' Connections 


GABON* 

GAMBIA* 

IVORY COAST 

KENYA* 

LIBERIA 


... 090-001 
.00111 
00 - 111-11 
0800-10 
.797-797 





SOUTH AFRICA 0-800-99-9123 




/-■-*■ 4 >/•’ 4 mM. j., 1 lidi|:i! ill 1*1 a ,■** 111111111 - 1 * hit nM>.inr*rfliii- . 1 /ariliU-jic Hr jtii**iu«n!>v 

V\: V.vhllianiivt *. r*i. , 1 r, ii] m lv—1 ..I if-nuf* I’iitJ- nmnrr. ui'lin^/a^ut-ri rinn-rhisi Vi 

■ «J .. v.i I ..I- l|iij ,i| i,i*f -..t!*i.L ll-i'j \Li' I..4I* m.rji |n.ni.\.« |-l*.n- PW-. |*voMnijina '■* 


l-4^i»-ai. H- . > .«■> ip i *nrtd l i»n ~ ptvv. o«i-M 'i 1 SAOkrcT ...... ........ 

•..-,11 -r»,r....a. r-jJ#*-!/.-.. H4rt|4c-vr **♦•-* .n H tnv, „!/ xr* ■ - j; , v .. , .y e ,,„ , 'j. ' , l - ****•_" '-“'A* Jll Ha- iwinm* TiiMk pll..* rt^ian tLjvMI .( 0*1 nrptarartlWlraJd; MV IftdilllMMmIMg 


k : 4Bi4*tf 




y - .-_s.y-. cj