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Heralfc 


INTERNATIONAL 



* 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 





** 


London, Thursday, September 1, 1994 


No. 34,682 


Today Is the Last Day of the Past’ 

Russian Tooops Take Leave of Germany After Half a Century 


Ride Atkinson 

xhtMfm Pmi Soviet 

■ BERLIN '-The Russian Army ended 
half a oemtuiy of military presence in 
Germany on Wednesday with a somber 
ceremony that marked the final disman- 
tling of the Soviet empire in eastern Eu- 


tt Boris N. Yeltsin of Russia, 
here ttijoversoe the departure of the last 
L800 troops from a force that numbered 
33 &, 0005 ii 5 t four years ago. told his sol- 
diers tftty could return home assured 
that “for Russia a military threat will 
never again rise from German soil." 

• “Todaty," her said, “is the last day of 
Ihc past” 

The ceremonies in Berlin overshad- 
owed the concomitant departure of the 
final Russian troops from Latvia and 
EstoniuL.Together with the departure last 
year of Russian forces from Lithuania, 
that withdrawal completed Moscow's re- 
treat from the Baltic republics annexed 
by the Soviet Union in 1 940 and restored 
to independence in 1991. 

“This is a momentous day for our 
three countries, our immediate neighbors 
to the east and for Europe as a whole," 
the three Baltic presidents declared in a 
joint statement 

In a day rilled with symbolic gestures 
of reconciliation between World War II 
and Cold War adversaries, Mr. Yeltsin 
and Chancellor Helmut Kohl of Germa- 
ny laid wreaths at the mass grave of 7,000 
Soviet soldiers killed in the Battle of 
Beilin in 1945. Together, the two leaders 
climbed the 60 steps to the top of the 
Soviet war memorial in Trcptow Park, 
which features a 40-foot statue of a 
sword-wjelding Soviet soldier straddling 


the shattered ruins of a Nazi swastika. 

“As a result of this protracted and 
bloodiest of wars, Europe was saved 
from Hitlerism," Mr. Yeltsin declared, 
his voice booming over the assembled 
ranks of Russian and German troops. 
"Here, in Berlin, the poisonous roots of 
this unprecedented evil were tom out, 
the ashes of Hitler's monstrous plans 
were thrown into the wind." 

Mr. Kohl acknowledged that “terrible 
things were done to the Russian people 
by Germans and in the name of Germa- 
ny.” 

“Wc bow in respect before the millions 
of your countrymen who lost their lives 
in this dreadful war," he said. 

But the chancellor also cited the dark- 
er moments of the long Soviet occupa- 
tion — “what Russians later inflicted on 
Germans" — including the effort to 
starve West Berlin into capitulation in 
1948-49, the Soviet suppression of a 1953 
workers' uprising in East Germany and 
the construction of the Berlin Wall in 
1961. 

Although thanking the Russians for 
their “discipline and willingness to coop- 
erate," Mr. Kohl made dear that he 
considered the occupying forces to be 
interlopers whose departure was long 
overdue — a position ne is most likely to 
use to good effect in this fall’s federal 
elections. 

Originally scheduled for the end of the 
year, the withdrawal was advanced by 
four months, permitting the chancellor 
to remind voters that he was largely 
responsible for finally pushing the Red 
Army off German soil. 

The pullout came under the terms of 
the 1990 treaty that paved the way for 


German reunification and a full restora- 
tion of German sovereignty. The treaty 
also requires the withdrawal of soldiers 
from the other three Allied powers that 
occupied Berlin, and the Americans. 
British and French will complete their 
pullout from the city next week. 

The Russian exodus marks the final 
contraction of what was once the world's 
greatest military empire. The Kohl gov- 
ernment has lauded Moscow for what 
one German official recently called “a 
strategic and logistic masterpiece'' in dis- 
mantling the occupation force, which for 
decades formed the backbone of the 
Warsaw PacL 

Since the pullout from Eastern Ger- 
many began in 1990, for example, the 
Russians have transported more than 
540,000 people — including soldiers, ci- 
vilians and their family members — and 
2.6 million tons of equipment, enough to 
fill 13,400 jumbo jets. The withdrawn 
cargo included 4,200 tanks, 3,700 artil- 
lery tubes, 1,400 airplanes and helicop- 
ters and 677,000 tons of ammunition. 

To lubricate the redeployment, Bonn 
has spent some 14 billion Deutsche 
marks (S8.9 billion) in helping the Rus- 
sians find the door. More than half that 
sum, roughly $5 billion, has been ear- 
marked to build 46,000 apartments to 
house returning soldiers — although a 
German military official has acknowl- 
edged that fewer than half have been 
completed. 

Uncertainties about housing in partic- 
ular and the future in general have 
loomed large in the thoughts of the last 
Russian soldiers here as~ they finished 
See RUSSIANS, Page 4 


The Vatican Attacks Gore on Abortion 


. iBy Alan Cowdl 

JUrw York Thd Soviet 

ROME — As political jousting stepped 
up six days before the united Nations 
population conference in Cairo, the Vati- 
can launched an unusual, personal attack 
on Vice Pngidcnt A1 Gore on Wednesday, 
accosinfffe^ the gath- 

ering's intentions on abortion. 

Since preparations^* the conference 
began last April, Pope John Paul H and his 
aides have taken a vociferous lead in con- 
demning the Cairo meeting as likdy to 
legitimize abortion as a means of birth 
control — ia direct contradiction of Ro- 
man Catholic doctrine on the sanctity of 
life from the moment of conception. 

The broadside on Wednesday by Joa- 
quin Navarro-Valls, the Pope's chief 
spokesman, was the first time the Vatican 
had formally singled out the United States 



name. 

“Mr. A1 Gore, rice president of the 
U^A., and member of the American dele- 
gation, recently stated that *ihe United 
States has not sought, does not seek and 
will not seek to establish an international 
right to abortion,'” Mr. Navarro-Valls 
said at a news conference on Wednesday. 
Mr. Gore made the remark at the National 


Press Club in Washington earlier this 
week. 

“The draft population document, which 
has the United States as its principal spon- 
sor, contradicts, in reality. Mr. Gore’s 
statement," Mr. Navarro-Valls said. 

A spokesman for Mr. Gore drew a dis- 
tinction between his statement, which the 
spokesman said represented U.S. policy, 
mid the population conference document. 
“His statement is U.S. policy," the spokes- 
man said. “The UN document is still a 
draft” 

The attack further raised the political 
temperature in advance of a gathering that 
has drawn what Italian commentators call 
the Pope’s most determined campaign 
since his battle against communism in his 
native Poland. 

At issue principally is language in the 
draft that has drawn attention away from 
the gathering's stated goal — to agree on 
ways to deal with a global population crisis 
— and focused it instead on what, for the 
Vatican, is the key question of whether the 
proposals enshrine abortion and extramar- 
ital sex as human rights. 

Specifically. Mr. Navarro-Valls said 
Wednesday, such terms in the document as 
“reproductive health" and “reproductive 
rights” introduced the idea of “in effect, 
abortion on demand" as a proposed inter- 



Jar 

ANGRY REPLY A Korean ^comfort woman,'’ who was forced into prostitution during World War IL hurling 

eggs* Japan's Embassy in Seoul Wednesday to protest a settlement offer that included no compensation. Page 6. 


At a ‘Historic Crossroads,’ 
IRA Declares Cease-Fire 



. . V. . 

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national right to be established by the 
gathering. 

In what seemed a thinly veiled allusion 
to what the Vatican considers excessive 
influence on the drafting of the proposals 
by American feminists, Mr. Navarro-Valls 
said the Cairo gathering risked becoming 
“a session called to sanction a current 
lifestyle in minority circles of certain opu- 
lent societies" and’ to impose those values 
on “the emerging, less developed cul- 
tures." 

The Vatican’s position reflects the huge 
differences in fundamental perceptions of 
what the conference is all abouL For some, 
the gathering represents a potential turn- 
ing-point in the empowerment of the 
world’s women as the planet grapples with 
population growth rates. 

For the Roman Catholic hierarchy, 
though, the gathering is seen as a moment 
that could enshrine in international agree- 
ments amoral notions relating to abortion, 
adolescent sexuality and the central role 
that the church believes should be played 
by the family. 

“It is not a casual fact that an institution 
so natural fundamental and universal as 
marriage is practically absent in the docu- 
ment text,” Mr. Navairo-Valis said. 

While it has denied strikina a formal 


See VATICAN, Page 4 





O' r.‘ .■ t 

1 

Marlin McCullough/ Ageace Fraocc-Pmtc 

A woman celebrating the IRA cease-fire call Wednesday in a Belfast district 


By William E. Schmidt 

A’cm 1 York Times Service 

BELFAST — After waging a 25-year 
campaign of bloodshed and terror, the 
leadership of the Irish Republican Army 
declared Wednesday that it was ready to 
abandon warfare in favor of peace talks 
over the future of Northern Ireland. 

It ordered its clandestine militaiy units 
to set down their arms at midnight 
Wednesday as part of an unconditional 
and unilateral cease-fire. 

In a five-paragraph communique, the 
IRA described itself at a “historic cross- 
roads," and signaled that the time had 
come to rely on political solutions rather 
than force to achieve its objective of forc- 
ing the British out of Northern Ireland and 
reuniting the province with the Irish Re- 
public to the south. 

“We believe we are entering a new situa- 
tion. a new opportunity," said the state- 
ment by the outlawed paramilitary organi- 
zation. 

But while the communique called for 
“complete cessation of military opera- 
tions” as of Wednesday night, there was no 
mention of the IRA disarming or surren- 
dering its weapons. Gerry Adams, the head 
of Sinn Fein, the IRA’s political wing, told 
cheering supporters in me streets of West 
Belfast that it was now up to Britain to 
begin reducing its military presence in the 
province and proving its willingness to 
make peace. 

“The struggle is not over,” he said. “The 
struggle has entered a new phase." 

President Bill Clinton hailed the cease- 
fire but said there must be a permanent 
end to the violence. 

Mr. Clinton, who spoke by telephone 
with Prime Minister John Major of Britain 
and Prime Minister Albert Reynolds of 
Ireland, said that “the United States con- 
tinues to stand ready to assist in advancing 
the process of peace in Northern Ireland.” 

“While much work rem ains to be done, 
the IRA’s decision to join the political 
process can mark the beginning of a new 
era that holds the promise of peace for all 
the people of Northern Ireland," Mr. Clin- 
ton said in a statement issued on Martha's 
Vineyard, Massachusetts, where he is va- 
cationing. 

While news of the cease-fire fueled 
hopes that it might be the beginning of the 
end of one of the world's most intractable 
political and sectarian conflicts, the IRA's 
announcement also stirred doubts and 
questions, especially among the nearly 1 
million members of Northern Ireland’s 
loyalist community, the mostly Protestant 
majority within the province who are deep- 
ly opposed to the IRA’s aspirations to 
unite with the mostly Roman Catholic 
See ULSTER, Page 4 


Next Step: Accord ‘From the Bottom Up 9 


By John Daraton 

Sew York Times Serwce 

LONDON — The cease-fire announced 
by the Irish Republican .Army is widely 
viewed as the most hopeful step toward 
peace in Northern Ireland since the “trou-. 
bles" began 25 years ago, but that does not 
mean that peace will be easily achieved. 

Analysts and diplomats pointed out 
Wednesday that numerous hurdles re- 
mained before Sinn Fein, the political arm 
of the IRA, could actually sit down at the 
negotiating table with representatives of 
the British government. 

And once negotiations begin, it is diffi- 
cult to imagine a solution that could 
square the ambitions of the Catholic re- 
publicans, who want union with Ireland, 
with the fears of the Protestant loyalists, 
who insist on remaining part of Britain. 

Because the British government’s policy 
is that it will not do any thin g against the 
wishes of the majority of people in North- 


ern Ireland — and the majority are Protes- 
tants — a deep gulf looms between any 
British and IRA negotiators. 

During the 16 months that the idea of a 
peace initiative has bean bandied about, 
no one has put forward a credible idea of 

NEWS ANALYSIS 

how a final settlement might ultimately be 
arranged or what kind of political entity 
might result. 

Occasionally, people on the outskirts of 
the diplomatic maneuvering talk about the 
six provinces of Ulster becoming an auton- 
omous unit, falling under the joint jurisdic- 
tion of London and Dublin, or perhaps 
even becoming a separate country for a 
while. 

But this is pure theory. No one in or out 
of government has actually floated any of 
these schemes before the wary and con- 
flicting groups of Northern Ireland. 

Instead, those involved in the negotia- 


tions talk about it as a process. They speak 
about the intangibles of building confi- 
dence on both sides, injecting economic 
assistance to strengthen communities and 
above all ending violence to allow democ- 
racy to return and to end direct rule from 
London, which was imposed in 1972. 

“There is no computer model no blue- 
print,” said a member of the Northern 
Ireland Office, the British arm that runs 
Ulster. “And there can’t be. The lesson 
we’ve learned is that the imposed settle- 
ment won’t work. It has to come from the 
bottom up and end in a constitutional 
outline that, broadly speaking, is accept- 
able to the parties of Northern Ireland." 

Still there seems to be little middle 
ground between republicans and loyalists. 

Perhaps that is why precision m lan- 
guage seems to count for so much. While 
Catholic nationalists were celebrating the 
cease-fire proclamation by parading the 

See TRUCE, Page 7 


Teeming New Delhi Turns Into a ‘Calcutta’ 


By Molly Moore 

tTcshmgnm Pal Service 

NEW DELHI — The residents of Ki- 
shan Ganj colony were fed up. Without 
electricity for four days in steamy mon- 
soon heat, 1.200 neighbors streamed out of 
their houses this month and attacked the 
nearby power company office, shouting. 
"We want electricity!"* 


In New Delhi’s largest shopping district, 
hundreds of shopkeepers have shuttered 
their stores and demonstrated in the streets 
this summer to protest the frequent power 
failures. 

Residents in one of the city’s most afflu- 
ent neighborhoods stormed the local tele- 
phone office, furious that their phones bad 
not worked for more than a month. 





Brotherly Love: Across Iowa by Mower 


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By Megan Garvey 

ftwf Service 

BLUE RIVER, Wisconsin — Alvin 
Ray Straight is not amused. 

Other people may laugh at the idea of 
a stubborn old man crossing Iowa on a 
lawn mower because his eyesight is dim 
and they took away his license to dnve a 
car. But" Mr. Straight doesn't get the joke. 

Other people may chuckle at the 
thought of a coot spluttering along at 
five miles (eight kilometers) an hour, 
pedal to the metal, towing his gear in a 
utile trailer behind his ’&> John Deere. 
But he fails to see the humor. 

Mr. Straight, 73, was not looking for 
publicity when he packed the makeshift 
trailer with some loam rubber bedding, a 
couple of blankets and some food, bade 
his wife farewell and boarded ht> second- 


hand lawn mower for a very ioaa ride. 
He just wanted to see his brother Hank, 
who was recovering from a stroke. 

When a man lives 50 miles From the 
nearest bus station, when he cannot see 
well enough to drive a car anymore, 
when his older brother is 80 years old 
and time might be running out. a man 
has to do what he has :o do. Especially 
when that man b too hardheacec to ask 
a fnend for a ride; especial!} when he 
insists on handling his own starring 
wheel 

Mr. Straight spot: all las: winter 
thinking about Sow he eouic make the 
trip from his home in Laurens. Iowa. :o 
Hank's place here in Blue River. 240 
miles distant. Cross-country by lawn 
mower, he decided, was the or.h wav to 
SP- 


On July 5. he loaded up his trailer and 
headed down the winding county roads 
that cross the cornfields and cow pas- 
tures of this pan of the world. Originally, 
he rode an Aliens lawn mower, but he 
had made it only about 30 miles before 
the engine blew just outside of Emmets- 
burg. Iowa. He got a tow home and 
regrouped. 

He bought the Deere mower and head- 
ed back out on the road. The machine 
hud a top speed of five miles an hour, 
which was fast enough for him. His fuel 
tank held five quarts of gasoline, which 
made for lot of refills. 

Four days into the trip, heading up 
toward U.S. 18, Mr. Straight had a siring 
of mechanical problems. "I had to re- 
place the starter and the generator, and I 

See MOWER, Page 4 


Kiosk 


3 Indian Doctors 
Die in Somalia 

UNITED NATIONS, New York 
(Reuters) — Three Indian military 
doctors serving with the United Na- 
tions in Somalia were killed Wednes- 
day in an attack on their field hospital 
in Baidoa, a UN spokesman said 

_ $ "“to 6 ^nd fatal attack on 
Indian UN personnel in Somalia in 
less than 10 days. Seven Indian UN 
Mldim were killed and nine wounded 


Crossword 

Weather 


Page 19. 
Page 20. 


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city bus, smashing its windi 
up its driver, who had run 
an — the 224th person kill 
private Redime buses with 

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adeep n - — 1 '*■* - - 

jwJied m 

test that 

thescOTcin^u^^ 
of Kishan Ganj. “This 1 
our tolerance level and ! 
anymore." 

Hie events of the iaa 

New Delhi — from the 
tne old quarter to posh 
— have not beat isolate 
once a graceful c 
free-uped avenue* ^ 

World mcgalopcfe. 

New Ddhf's anA i 

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consumer-dj __ 

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.Page 2 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 1, 1994 


Ex- Russian Dissident Reopening War on Intolerance 


WORLD BRIEFS 



By Craig R. Whitney 

New York Tunes Service 

COLOGNE — Lev Z. Kopelev's 


friends knew he was not through with 
politics when he moved to Cologne 
13 years ago and settled in to devote 
himself to the study of German cul- 
ture. which he had made his life's 
work. 

At 82, he has outlived the Soviet 
Union, which forced Him to spend 
years as a political dissenter. He was 
cast into Stalin's prisons and ulti- 
mately forced to leave the country 
before the authorities! deprived him 
of his Soviet citizenship. 

Since then he been free to 
return to Russia, but kept the citizen- 
ship granted by Germany. Now, al- 
though in failing health, he says he 
must once again enter the political 
arena to combat the legacy of intoler- 
ance that totalitarianism left behind 
in both countries. 


He came to Cologne at the invita- 
tion of his friend Heinrich BOIL, the 
novelist and Nobel laureate who died 
in 1985. Mr. Kopdev has spent the 
years since 1981 writing and lectur- 
ing and exploring the impact of Ger- 


man and Russian culture on each 
other. 

His figure is now thin and stooped 
after a series of heart attacks, but 
with neo-Nazi thugs attacking immi- 
grants, with ethnic warfare growing 
throughout Europe and the former 
Soviet Union and with many East 
and West Germans still feeling es- 
tranged, be said he had to speak up 
again 

So he has established an occasion- 
al journal dedicated to promoting 
tolerance. “True peace and true tol- 
erance does not mean just passive 
coexistence without violence," he 
wrote. “Not just sterile separateness 
but fruitful togetherness, and enrich- 
ing cooperation with strangers far 
and near.” 

Mr. Kopdev, born into a Jewish 
family in the Ukrainian capital of 
Kiev, was a Communist agitator 
there in his youth. In 1941, he volun- 
teered for toe Red Army and held the 
rank of major in 1945 when Soviet 
troops entered Germany. 

He found himself trying to stop his 
own soldiers from taking out their 
fury for Nazi crimes on German ci- 
vilians. As a result, he was arrested as 


a “bourgeois-humanistic" sympa- 
thizer and sent to the Gulag. 

Released in 1954. he became the 
leading expert in German culture in 
the Moscow literary world, and as he 
later wrote, “I tried to overcome my 
inability to listen to people who dis- 
agreed with me, my inability to look 
from a point of view other than my 
own — that deafness and blindness 
that I used to think was ideological 
adherence to principle." 

He remained in the Communist 
Party until 1968, when he was ex- 
pelled for protesting against the inva- 
sion of Czechoslovakia. 


The first of many books of mem- 
oirs, “To Be Preserved Forever,” 
about Russian war crimes against the 
Germans and his experiences in the 
Stalinist prison camps, was pub- 
lished in Germany in 1976 and later 
in the United States. 


He was expelled from the Soviet 
Writers' Union in 1977 and, after 
Mr. Sakharov was exiled in 1980, Mr. 
Kopdev and his wife rductandy de- 
cided it was better to take refuge 
temporarily in Germany. 

Ideologies of all kinds repel him 
today, he said, and in his book-clut- 
tered second-story apartment on the 
southern edge of Cologne he has 
spent most of the past few years 
laboring on a monumental study of 
mirror images — the picture of Ger- 
many that emerges in Russian writ- 
ing over the centuries and the picture 
of Russia as seen in German litera- 
ture. 


At 6 feet, 3 inches (1 .9 meters). Mi. 
Kopdev looked and sounded like a 
white-bearded prophet in the Mos- 
cow of the 1970s. where he and his 
wife, the literary critic Raisa Orlova, 
knew such leading dissidents as An- 
drei D. Sakharov. 


He will return to the subject of 
ideologies in his new journal, called 
Forum XXL The first issue, to be 
published next month, will be aimed 
at encouraging a dialogue for the 21st 
century, be said. It willinclude works 
by German, Russian and Eastern Eu- 
ropean authors, including an essay 
by Mr. BolL 

His aim, he said, is “to combat 
prqudice against all that is foreign or 
different — different races, nations, 
lifestyles, faiths, ways of thinking 


and languages — and to encourage 
tolerance instead.” 

Before the Soviet authorities de- 
prived him of arizen ship in 1981, 
Kir. Kopelev often worried aloud 
about militant Russian nationalism. 
But he never foresaw, he said, such 
horrors of intolerance as the war in 
Bosnia-Herzegovina and the ethnic 
strife in Armenia. Azerbaijan and 
Georgia. 

"I should have seen that in Russia, 
even under the Communists, there 
were really two parties — the centrif- 
ugal and centripetal parties, both of 
which fought for positions of pow- 
er," he said. 

As For the future, he said, “Tve 
come to the conclusion that the 40- 
year-olds will be die salvation of 
Russia. 1 had dinner with the mayor 
Of N izhni Novgorod, who is 35 and 
neither a Marxist nor a monarchist 
He just wants Russia to live a normal 
life, which in the modern world 
means an open, free-market, capital- 
ist society.” 

“We bad too many ideologies in 
the 20th century," he concluded. 
“The 21st should be governed by 
common sense.” 


China Dissident’s Seizure Upsets U« 


WASHINGTON (Reuters) — The United States said it wa% 
“very distressed” that China detained a leading dissident Wednesf ; 
day, one day after promising Commerce Secretary Ronald 
Brown that it would open new talks with Washington on humanj 

"^Police took the dissident. Wang Dan. from his home, foil 
questioning but released him seven hours later. He had been, 
de tain ed for 12 hours over the weekend as Mr. Brown arrived ml 
Beijing. Mr. Wang was a student leader of the 1989 pro-democra-j 
cy protests in Tiananmen Square. „ i 

“We’re very distressed by the reports that he was again detained; 
for several hours today in Beijing.” the StateDepartmejiu^^ 
man, Mike McCuny. said. “We call upon Chinese authorities to 
respect Wang Dan's human rights and the rights of other Chinese 
citizens.” • 


Afghans Threaten to Target Airliners; 

PESHAWAR, Pakistan (AP) — The main opposition alliancd 
in Afghanistan warned Wednesday that it would start shooting 
down civilian aircraft because they were believed to be cajggpg 

^ dvS^war has reduced Afghanistan's national aiding 
Ariana, to a handful of planes that fly from the eastern tig# of 
Jalalabad to other countries in the region. \ 


The 
ons, in 


aDau lO ourer WUUUira uiv. ivyuu. . _ T 

le Afghan factions have a wide affray of sophisticatediXpeap, 
including U.S.-made Stinger anti-aircraft missiles. , \,£ , 


Sed Nigerian Judge Delays Suit by Untt \ 

med bv . /I, . * vt: : .MM nn WMirMrinxnHi 


20 Algerian Muslims 
Deported by France 


Return 

PARIS — France deported 
20 of 26 Algerians interned in a 
crackdown on Muslim funda- 
mentalists to Burkina Faso on 
Wednesday, officials said. 

The Interior Ministry, an- 
nouncing the expulsions, did 
not disclose the destination. But 
a government official said they 
were on their way to Burkina 
Faso, in West Africa. 

Burkina Faso said that it 
would accept the 20 for hu- 
manitarian reasons but that 
they were not expected to stay 
for more than about three days. 

The Algerians had been held 
for up to nearly a month at a 
disused army camp in the vil- 
lage of Folembray northeast of 
Paris pending their expulsion to 
a third country. 

“The country of destination 
having been detrided, the expul- 
sions were carried out today for 


shopkeeper who was on 3 hun- 
ger strike to protest his inno- 
cence, was being returned to his 
home in the northern dty of 
Lille. 

Interior Minister Charles 
Pasqua said the expulsions were 
intended as a message to Mus- 
lim militants in France to re- 
frain from political activity. 

“I hope this will serve as a 
lesson for those who do not 
want to respect the laws of the 
Republic and hospitality," he 
said. 

The Algerians were taken un- 
der heavy guard to the array 
camp in successive police 


Factory Site 
In Germany 
Denied Heirs 


LAGOS (Reuters) — A Nigerian court on wetmesoayrao- 
jouraed to Sept. 6 a suit by ofl union leaders cbafiengiagytfcei^ 
dismissal by the military ruler, General Sani Abacha. ~ . ■ * 

Judge I. N. Auta, standing in for Judge Mamman Koto of th$ ■ 
High Court, adjourned the hearing soon after the case was 
introduced. Officials said Judge Kolo was away on family mattery 
At the first hearing on Aug- 23, Judge Kolo reinstated the union 
leaders. General Abacha dismissed them two weeks ago to end a 
strike by oil workers that is now in its ninth week. ; 







Rwanda Executions Continue in East ■ 


swoops after Muslim guer rillas 
killed three French gendarmes 
and two members of the embas- 
sy staff in a French housing 


compound in Algiers on Aug. 3. 

The crackdown, ordered by 
Mr. Pasqua, included police 
checks of more than 20,000 peo- 
ple. ft was seen as a declaration 
of war on Muslim fundamental- 


20 of the 26 people under forced 
residence at Folembray." the 


Interior Ministry said. 

It said the six others would 
remain under surveillance “ac- 
cording to the needs of public 
order." The ministry did not 
say who stayed and who went. 

Officials said the moderate 
Imam Larbi Kechat was among 
those who stayed in France. 
Lawyers said ‘Said Magri, a 


ists fighting the Algerian gov 
eminent. The armed wing of the 
Islamic Salvation Front threat- 
ened to retaliate against France. 

More than 4,000 people have 
died in worsening aril strife in 
Algeria ance the government in 
1992 canceled a general election 
that the From was poised to 
win. 


Reuters 

BERLIN — The heirs of the 
German company that built the 
crematoriums at Auschwitz and 
other death camps will not get 
the factory site in Eastern Ger- 
many bade, a regional govern- 
ment office said Wednesday. 

However, claims by the heirs 
of J-A. Topf & Sohne for resti- 
tution of private assets are still 
under consideration, the 
spokesman for the Office for 
Outstanding Property Ques- 
tions in Thuringia said. 

The World Jewish Congress 
has pledged to fight the claims 
of the Topf heirs, saying return- 
ing their property would make a 
mockery of the memory of mil- 
lions of innocent victims. 

The Topf heirs are seeking 
restitution for property seized 
by the Communist government 
of East Germany under laws 
introduced after Germany's 
unification in 1990. 

In Weimar, eight skinheads 
were charged with public disor- 
der and damage to public prop- 
erty in connection with an at- 
tack July ‘23 at the Buchenwald 
FnvKi FrfwAgmcc Francriw: concentration camp, during 
The wife of one of the Islamic militant suspects detained at a French Army base s t a nding - 1 which they allegedly threatened 
outside the installation on Wednesday after learning that her husband had been deported, to kill an employee. 


GOMA, Zaire (AFP) — People are still being executed in 
ea stern Rwanda and their bodies thrown into the Kagera Riveij 
but the responsibility is undetermined, a United Nations spokes? 
man said here Wednesday. ; 

The spokesman for the UN High Commissioner for Refugees 
said from five to eight bodies are found daily in the river that 
borders Rwanda and Tanzania. Every week some 12,000 refugees 
cross the border into Tanzania. | 

The new government installed by the Tutsi-led Rwandan Pattis 
otic Front, which routed the army and seized power in July, ha$ 
pledged to bring those held responsible for the genocide to proper 
trial, with no summary reprisals. - J 


Sri Lanka Ends Rebel-Area Embargo! 


COLOMBO (AFP) — Prime Minister Chandrika Bandaranf 
aike Kumaratunga of Sri Lanka lifted an economic embargo on 
Tamil guemlla-heid territory Wednesday and called for*peac$ 
talks to end ethnic bloodshed. .... ! 

Mrs. Kumaratunga said she expected her “unconditional and 1 
unilatera l" action to clear the way for a dialogue between the 
government and Tamil Tiger rebels to -resolve a conflict that ha$ 
claimed some 30,000 lives since 1972. \JC ‘ 

The government would immediately remove 28 items fnjpa iisj 
of 42 banned from the territory under control of the separatist 
Liberation Tigers of Tamil Eelam, Mrs. Kumaratunga sappoly * 
items that could go directly into the manufacture of bamfoand 
other weapons will remain embargoed. ’ .W { 


Egypt Presses Israel on Nuclear Aftnd 


JERUSALEM (Reuters) — The Egyptian foreign 
Amr Moussa, pressed Prime Minister Yitzhak Rabin of Esfaej oiji 
Wednesday to join a ban on nuclear weapons. . V^jjp j 
■ - Israel is widely believed to possess nuclear weapcsaOXK 
Israeli official quoted Mr. Rabin as insisting that arms-|ontroi 


apply to the entire 
Mr. Moussa said he and Mr. Rabin agreed that 
Egyptian experts would meet in about a month to 
subject. 


fener Prisoi 


EUROPEAN 

TOPICS 


effect, reports El Pais, the Spanish daily, the 
law has made one-third of the 300.000 Gyp- 


What's the Rush? Germans Ask, 
On Express-Mail Drag Deliveries 


Legitimate businessmen, it seems, are not 
the only ones turning to private express-mail 


law has made one-third of die 300.000 Gyp- 
sies in the Czech Republic stateless people — 
stripping them of the right to vote, to work, or 
to benefit from state services. 

“The intention of the law,” said Ina Zoon 
of the Tolerance Foundation, a Prague hu- 
man rights organization, “is to get rid of the 
Gypsies.” 

She said it was driving many Gypsies into 
lives of “absolute clandes unity, ma rgiyializa. 
tion, without education or health care.” 


German 4 Sting 9 Under Attack 


The Associated Press 

BONN — A pacifist group 
filed charges Wednesday 
against the German police, who 
it claims endangered millions of 
people by running a sting oper- 
ation that brought deadly plu- 
tonium into Germany. 


services when they need something delivered 
fast. Drug dealers have also found these ser- 


fast. Drug dealers have also found these ser- 
vices valuable, the German ncwsweekly Fo- 
cus reports. 

fn 1992 customs workers in the Cologne 
district alone found 12 kilograms (26 pounds) 
of cocaine and heroin in packages being 
transported by private services. That amount 
doubled the following year. 

The result has been trouble for the express 
services. Customs officers have greatly in- 
creased their manual inspection of packages 
from suspicious regions, meaning that deliv- 
er)- is delayed, removing the raison d’etre of 
these services. 

But one of the biggest. Federal Express, has 
struck back. Employees at the sending aid 
type relevant information — Does the de- 
clared value of the package far exceed its 
alleged contents? Is the shipment going from 
a firm to an individual? — into a hand-held 
computer. Data arc sent by satellite to Ger- 
many. where Federal Express alerts the au- 
thorities. fn exchange, customs officials 
promise not to delay the company's packages 
unnecessarily. 


Being an official “treutenant de louveterie,” 
or “master of die wolf hunt,” in the French 
Vosges region was not such a bad life for 
Gfcrard Mathieu of Vittel — until a wolf had 
the audacity to enter his district. Now Mr. 
Mathieu is getting no rest. 

There are 1,500 lieutenants de louveterie in 
France today — a postion created in the days 


The German chapter of In- 
ternational Physicians for the 
Prevention of Nuclear War 
charged an unnamed undercov- 
er agent with incitement to ille- 
gal dealing in radioactive mate- 
rials. The charge was brought in 
the Munich state court 


of Charlemagne to help protea people and 
livestock from wild wolves, according to Le 
Figaro, the Paris daily. Today Mr. Mathieu 
and his colleagues have other work — keeping 
an eye on flora and other fauna, helping fight 
rabies — because there are no more wolves in 
France. Or were no more, until the recent 
appearance in the Vosges, in the northeastern 
part of (be country. 

The wolf, first spotted three months ago, 
has killed about a dozen sheep. Under Mr. 
Mathieu’s direction. 20 hunters, some with 
infrared binoculars, have been stalking the 
animal. 

Mr. Mathieu, whose position as lieutenant 
de louveterie is unpaid, normally works full 
time as a barber. But now he spends his 
afternoons placing bait and setting traps. 
“For three months* he says, “I’ve beat under 
pressure from the prefect and the media.” He 
longs for the good old days when a master of 
the wolf hunt did not have to worry about 
things tike wolves* 


Around Europe 

A new Czech nationality law has come under 
fire from human-rights advocates, who say it 
is intended to chase Gypsies; most of them 
bom in Slovakia, out of the country. 

The new law requires proof of two years of 
established residence and five years without 
any criminal record to gain nationality. In 


The charge is not likely to 
come to trial, but it represents 
the latest attack on the German 
government’s handling of leaks 


of radioactive material from the 
former Soviet Union. 

The opposition Social Demo- 
crats accuse the government of 
staging seizures of weapons- 
grade nuclear material to give 
the impression of an effective 
anti-emne policy to influence 
the OcL 16 federal elections. 

In three of four cases re- 
vealed since May, undercover 
police agents or informants act- 
ed as buyers for the material. 

In one such sting operation, 
police on Aug. 10 confiscated a 
suitcase arriving on a Lufthansa 
flight from Moscow to Munich 
containing about 350 grains (13 
ounces) of weapons-grade plu- 
tonium. Three suspected smug- 


The physicians group 
charged that Bavarian police 
could have prevented the mate- 
rial from entering Germany by 
notifying authorities in Russia. 


■ Hieft Reported in Russia 
Thieves smashed through a 
wall and took a capsule con- 
taining 4 3 grams of radioactive 
cesium- 137 Tuesday from a 
chemical plant in the central 
Russian town of Tambov, the 
Emergencies Ministry said 
Wednesday, according to Reu- 
ters in Moscow. 


Israelis AskMunich Olympic Damages 

PARIS (Reuters) — Relatives of the Israeli athletes killed b$ 
terrorists at the 1 972 Olympics are seeking $40 million in dimages 
and accrued interest from Munich and the state of Bavaria, 
Olympic Committee official said. « 

The Olympic Committee; meeting in Paris, received a tette} - 
from lawyers asking them to intervene with German authorities 
on behalf of the families. \ 

The lawyers said they represented 27 individuals from the 
families of the athletes. Nine athletes died along with five of tbfc 
eight guerrillas who mounted the attack. 1 


bLi-i. 


teiV: 
CFir ‘ , 
cor-;.--.. . • 
shew.-: - 
sdir- - ■ 


Philippine Miners All Feared Lost 

MALANGAS. Philippines (Reuters) — Rescuers abandon^ 
hope on Wednesday for miners trapped in a gas explosion that 
killed at least 82 people in the Philippines' worst coal-min£ 
disaster. ■ 

“I am Mire they are all dead by now.” Colonel Manibilanfe^ 
Omar, police commander of Zamboanga del Sur, said as rescuere^ 


glcrs — two Spaniards and a 
Colombian — were arrested. 


Cesium, which is found in 
muting devices used to measure 
soil density and moisture, is not 
used in the construction of nu- 
clear weapons. 


— * I — w. m uvt ULU, UIMM MV 

wearing asbestos suits and oxygen masks inched their way along 
an underground tunnel where 1 8 bodies lie unrecovered- 


! w . • 


TRAVEL UPDATE 


Station Picked lor British Rail link 


No Power Struggle, North Korea Says 


Brian Knowlton 


Reuters 

VIENNA — A senior North 
Korean diplomat and member 
of the ruling Kim family said 
Wednesday that there was no 
power struggle going on in the 
country and that Kun Jong JQ 
would be inaugurated as head 
of state in the near future. 

“There is no power struggle 
at all. There is no instability, 
everything is going smoothly,” 
said Kim Gwang Sop, ambassa- 
dor to Austria and son-in-law 
of the late president, Kim II 
Sung. 


The North Korean dismissed 
Western reports of anti-govern- 
ment pamphlets being distrib- 
uted in Pyongyang. 

Kim D Sung died July 8, re- 
portedly of a heart attack. His 
eldest son. Kim Jong II, long 
designated as successor, has yet 
to be officially named leader or 
head of the Communist Party. 

“There is no question of the 
succession because that was 
solved a long time ago," the 
diplomat said. “Kim Jong II has 
led the party, slate and army 
roles for mote than 20 years." 


He said North Korea's stabil- 
ity was very strong, adding, 
“Because of that we do not need 
to be in any hurry.” 

The ambassador said the son 
had kept out of the limelight 
while his father was alive to 
focus North Korea’s attention 
cm the veteran leader. And he 
repeated North Korean assur- 
ances that Kim Jong H would 
follow his father's policies. 

The diplomat denied that 
Kim Jong II bad not been seen 
in public since the July 20 me- 
morial service for his father. 


LONDON (AFP) — The British, government announced 
Wednesday that Ebbsfleet. in northern Kent, would be the site for 
one of the two international stations on the high-speed rail link 
between London and the Channel Tunnel 
Britain’s Cbunnel link is not likely to be completed before the 
year 2002, while France, in contrast, has its fast fink already in 
place, and the Belgian one will be completed in 1997. 

One section of the former KGB headquarters in Vilnius, Lithua- 
nia, has been turned into a museum documenting the treatment of 
political prisoners under the KGB. The Victims of Genocide 
Museum includes an interrogation cell with padded walls and a 
totally dark isolation cell. (NYT) 


^national 1 Vi 


S?:-" 




•Vi ■' •>- 


*v’ -’i 


Mozambique's Parliament has voted to legalize fuslnns, hoping 
to attract foreign money, particularly from neighboring South 
Africa. (Reuter*} 

_ In an effort to make South Korea as dean and disciplined as 
Singapore, the government plans to increase fines for littering, 
spitting, jaywalking and other petty crimes to $625. People who 
cut into fines at public places and smoke in nonsmoking areas wifi 
also faoe larger fines under the proposal. (AP) 


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Cubans making their way to a raft off Cojimar. Across the Straits of Florida, many people oppose the refugee flow. 

6 No Way^ We’re Full Say Many in U.S. 


By William Booth 

\ Vashiagtoft Post Service 

PLANTATION. Florida — As the 
Clinton administration and its critics 
tussle over policy toward President Fidel 
Castro and Cuba's flood of refugees, it is 
here in the American suburbs where the 
real political battle over immigration is 
being waged. 

Many of the largely white, middle- 
class swing voters who will deride the 
nest election in Florida — like their 
counterparts around the country — do 
not want more immigrants. No offense, 
they say, but that is the way they feel. 

“The Cubans are just like everybody 
else: They want to come to the United 
States, and I don't blame them," said 
Ricky Saunders, a construction worker 
munching a hamburger at a mom-and- 
pop cafe in a mall here in Broward Coun- 
ty. site of most of the white flight from 
heavily Latino Dade County and Miami. 
“But this country can't take ihem all, and 
Fm sorry but it's no way. Jose. We're 
full.” 

So far, suburban white voters seem to 
tike what President Bill Clinton and 
Governor Lawton Chiles of Florida are 
doing. At least for now, the two Demo- 
crats have stopped the Cubans from en- 


tering the country by taking them to the 
U.S. naval base in Guantanamo Bay. 
Cuba. To the voters of Plantation, every- 
thing else is back-page news. 

Black voters seem to agree. “It's not 
secret there's a real schism between black 
Americans and Cubans in Miami," said 
H. T. Smith, a black community activist. 
“If you took a poll among black Ameri- 
cans in Miami, 90 percent would be in 
favor of Clinton's current policy, espe- 
cially if he. carries it out to the letter.” 

In Florida, a place filled with outsid- 
ers, voters of all political and ethnic 
stripes repeatedly tell pollsters that there 
are already enough people here taxing 
overburdened schools, hospitals and 
roads. 

Added to the underlying national tilt 
toward nativism is the feeling that La- 
tinos, in particular the Cubans, have 
“taken over" South Florida — both for 
good and bad. 

In Miami, unlike many other cities 
with large Latino populations, Cuban- 
Americans hold more than token posi- 
tions of power in business and politics. 
In fact, they run the town. 

And while there is grudging respect 
among many whites for what the Cuban- 
Americans have done in creating a kind 
of gateway city to Latin America, there is 


also resentment of their special treat- 
ment, their different language and their 
political clout. 

Max Castro, a scholar at the North- 
South Center at the University of Miami 
who has written widely on the tensions 
between whites and Latinos here, said 
there was a great difference of opinion 
between what he called the “enlightened 
accommodation” of whites in the elite 
and the anger expressed by many mid- 
dle-class and working-class whites, who 
feel that they do not so much "accommo- 
date” Cuban Americans as compete 
against them. 

Mr. Chiles and Mr. Clinton, he said, 
were both successfully appealing to 
white and black voters who felt over- 
whelmed by immigration and feared a 
loss of status and jobs. 

In Broward County, just north of 
Dade, many whites interviewed said they 
resented the new arrivals and believed 
that both Cuban and Haitian refugees 
were burdening the stale. 

“The American dream ain’t as big as it 
used to be," said George Banks, a hotel 
manager. “Taxes keep going up. people 
keep coming and ihere's not enough to 
go around for everybody. The Cubans 
should solve their problems in Cuba.” 


Former Prisoners Among Cuba Refugees 


Ctvprini trv. Out Su/I Pram Dispatches 

MIAMI —The exodus of Cuban refu- 
gees toward the United Stales shifted 
back to a heavy stream on "Wednesday, 
amid indications that the authorities in 
Havana have released prisoners to join 
those fleeing the island. 

Officials in Washington said the pris- 
oner issue would be discussed Thursday 
when delegations from the United States 
and Cuba meet in New York. 

Nearly 400 Cuban rafters were res- 
cued by the U.S. Coast Guard in just a 
few hours Wednesday. The flow of Cu- 
bans had slowed dramatically over the 
weekend because of bad weather and 
repealed warning? they would be held 
indefinitely in a camp at the U.S. Naval 
Base at Guantdnamo Bay, Cuba. 

But the numbers surged to 1.234 on 
Tuesday, up from 84 on Sunday. Offi- 
cials were concerned about a repeat of 
last week when the flow of refugees 
reached as many as 3,000 a day. 


Among the more than 15,000 Cubans 
being detained at Guantanamo are 
about 100 suspected of being released 
prisoners, a U.S. official said. However, 
the official said all appear to have served 
time for minor offenses. 

Cuban prisoners are routinely tat- 
tooed between the thumb and forefinger, 
making them easily identifiable. 

Cuban authorities angered U.S. offi- 
cials 14 ye&rs ago when they allowed 
thousands of prisoners and mental pa- 
tients to join the Marie! boatlift, in which 
125,000 rdugecs made it to U.S. shores. 
Many of those prisoners had been guilty 
of violent crimes. 

The Clinton administration got a 
boost in its struggle to cope with the 
refugee crisis on Tuesday when Panama 
and Honduras announced they would 
provide safe havens for a total of 15,000 
people. 

“The administration has been working 
closely with governments in the region to 


respond to this problem." said- Mike 
McCurry, the State Department spokes- 
man. "Clearly, we welcome the assis- 
tance that will be available fiom these 
announcements and others that we ex- 
pect in the future.” 

The administration is working out fi- 
nal details with the Turks and Caicos 
Islands, a British colony that has offered 
to take 2.000 Cubans for three months, 
and officials say they ha\e hopes plat 
Belize will agree to take up to 10.000. 
Last week, Mexican officials said that 
they would take some refugees who have 
relatives in Mexico; Venezuela has made 
a similar commitment. 

Despite the higher number of Cubans 
rescued on Tuesday and Wednesday, the 
news from Central .America fueled the 
administration's confidence that it was 
bringing the situation under control. The 
lone was noticeably more upbeat than 
last week. 

tAP. SYT . 




Mul tina tional Force Is Going to Haiti,’ U.S. Affirms 


T t 
*11?' 


The A.wuiltil Press 

Washington — The 
United States government said 
Wcdnesdav that American 
■troops would be dispatched to 
Haiti, either to expel the coun- 
try’s military junta or to help 
restore order if the generals bow 
to international pressure and 
depart. 

*'Thc multinational force is 
aping to Ham,” said p*Jpulv 
Defense Secretary' John M. 
'Deutch, referring to the pre- 


dominantly American fighting 
coalition about to be trained in 
Puerto Rico. Training is expect- 
ed to take a week to 10 days. 

Mr. Deutch said about 
10,000 U.S. troops would be in 
a coalition force supplemented 
by a few hundred from oLher 
hemisphere countries. He said 
the point of such a large force 
was to minimize American and 
Haitian casualties. 

Clinton administration offi- 
cials have warned the Haitian 




Away From Politics 

• Federal investigators examining a crash lost year ihai left a 
deflated Mimparapcd over the side of a New York City 
amflftreni house said tfwi np* resistant fabnc and improved 
safety devices cm blimps might help prevent such crashes. 

linked w a lethal batch of 94-perccm-purc heroin known as 
China Cut. 

• fw huntane known as John caused SIQ million to SIS 

million in damage to support facilities on Johnston Island 
{5£ft the m^Paeifie ajdl ^t week, bunt left 

the S240 nufiton chemical weapons disposal plant intact. 

• n* Bov Swots have dismissed a 24-year-old counselor Tor 
TtliJIiK shrotins * BB SW* al attending a summer 

bov between the eves. Scan Turner, 24 

taSfJUn *Hinu of'usMU. H* ws Wig Md ™ * lcu <* 
{ItyOW hsil w upstate New Yore 


mad etaWtdi an cm tummcnwi n . .. 7 

iuA tfftdi. Plstfm B«ch Ou»ws SA had pleaded guilty. 

• A feiM to (Wk florid* W dismiss two pnor 

Paul Hill the man accused of 
S&SJ SSS doctor and his volunteer escort 

rf Ste&b Omar Abdel Rahman and 12 other, 
tu bomb the United Nations and other 
AmSs wSdclavcd until Dec. 5. The trial. 
Not York 14. was postponed because 

representation of twodefen- 
AP. SYT. tetrtm 


W b^n&pi- K was postponed bwause 


leader. Lieutenant General 
Raoul Cedras, and his cohorts 
for months that they risk an 
invasion if they do not quit and 
permit restoration of the elect- 
ed president, Jean-Bertrand 
Aristide, who was ousted three 
years ago. 

Denying reports that the 
Pentagon was reluctant to act. 
Mr. Deutch said there was no 
policy disagreement with the 
State Department, usually de- 
picted in the media as "more 
prone to use the force autho- 
rized by the Linited Nations Se- 
curity Council in July. 


Rosa Parks, 81, 
Rights Pioneer, 
Hurt in Robbery 

Return 

DETROIT — Rosa Parks. 
81, the black woman whose re- 
fusal to give up her seal on a bus 
to a white man helped launch 
the civil rights movement in the 
South, was recovering from fa- 
cial bruises Wednesday afier 
being assaulted in her home. 

The police said a man had 
lacked down the back door of 
Mrs. Parks's home in a robbery 
attempt, and when he found her 
in her bedroom, demanded 
money. “She gave him the mon- 
ey. and then he struck her," a 
policeman said. 

On Dec. 1, 1955. Mrs. Parks 
was riding on a bus in Mont- 
gomery- Alabama, when a white 
man demanded her seat. She 
refused and w'asjajlcd. Her de- 
fiance was publicized and to- 
gether with other such actions 
led Southern blacks to demand 
their rights. 


Schools on Offensive Against Guns 


By William Celis 3d 

A'tfv York Times Service 

NEW YORK — When students in Cor- 
pus Christi. Texas, report for school this 
fall, they will be greeted by dogs trained to 
sniff out guns. 

In San Diego, students are reporting to 
new schools built without lockers, elimi- 
nating what school officials say is the most 
common hiding place for guns. 

And in Charlotte, North Carolina, stu- 
dents in some schools will not be able to 
carry book bags from class to class because 
they can conceal firearms. 

Driven by an increasing number of 
shootings in classrooms, hallways and on 
and near campuses, school systems across 
the country mis summer enacted tough 
and often hotly debated anti-gun regula- 
tions to eliminate weapons from most pub- 
lic hi^i schools and some junior high 
schools. 

Under most of these provisions, a stu- 


dent caught with a firearm will automati- 
cally be suspended for up to a year, even if 
the student is not ultimately convicted of a 
criminal offense. 

Once the province of large urban dis- 
tricts, these restrictions are now catching 
on in smaller cities, suburbs and rural 
areas where problems with guns have de- 
veloped in recent years. 

Enforced by a variety of means, like 
metal detectors, dogs ana locker searches, 
the policies have been prodded by the 
Ointon administration's Goals 2000: Edu- 
cate America Act. 

Approved in March by Congress, the 
legislation requires school districts to ad- 
dress the issue of guns by enacting local 
regulations or possibly risk losing money 
for federal education programs. The legis- 
lation does not direct school districts to 
adopt a specific policy. 

“The federal law was a good way for 
Congress to get involved." said Michael 
Casserly, executive director of the Council 


of Great City Schools, an association of 
the 50 largest school districts. “But its 
practical effects have yet to be seen.” 

The ami-gun policies face hurdles, not 
the least of which are the guns themselves 
and the students’ efficiency in hiding them. 

About 135.000 guns are brought to the 
nation’s 85.000 public schools every day, 
according to an estimate by the National 
School Boards Association. Metal detec- 
tors, security forces and locker inspections 
have only made a dent in that number, 
school officials across the country say. 

Some parents and students question the 
new, hard-nosed approach of some school 
officials. In Eugene, Oregon, for example, 
the principal at Sheldon High School was 
criticized for tearing out all the student 
lockers as a precautionary measure. 

“I got the hell beat out of me for doing 
it,” the principal, Jim Ford, said. But, be 
added, “I see getting rid of the lockers as 
small change in the big picture.” 


Simpson Bid 
For Old Files 
Is Rejected 

The Associated Press 

LOS ANGELES — A judge 
dealt another blow Wednesday 
to OJ. Simpson’s effort to iri- 
teiject the racial issue into his 
case, rejecting a defense request 
to review the personnel files of 
detectives. 

“I did not find any reports, 
incident reports, any informa- 
tion that was pertinent to the 
issues in this case." Superior 
Court Judge Lance A. Ito said. 

The defense had sought the 
records of four detectives, but 
Judge Ito said he saw cause to 
review only those of Mark 
Fuhrman and Philip Vannatter. 

On Tuesday, be also turned 
down defense efforts to see Mr. 
Fuhrman "s military records. He 
said the Marine Corps files 
were irrelevant to defense sug- 
gestions that the detective was a 
racist and a liar. 

Mr. Fuhrman reported find- 
ing a bloody glove behind Mr. 
Simpson’s estate that appeared 
to match one at the murder 
scene. 

Defense sources have said 
they are considering a trial 
strategy portraying Mr. Fuhr- 
man, who is while, as a racist 
who could have planted evi- 
dence to incriminate Mr. Simp- 
son, who is black. 

Mr. Simpson has pleaded not 
guilty to murdering his ex-wife, 
Nicole Brown Simpson, and her 
friend Ronald L. Goldman. 


POLITICAL NOTES 


Rallying Hound the Filibuster 

WASHINGTON — As Congress grinds 
down the pre-election home stretch, congres- 
sional Democrats claim that the peculiar Sen- 
ate phenomenon known as the filibuster is 
more of an obstacle to legislation than ever. 

A recent study released by the Democratic 
Study Group, a research group for House 
members, suggested that senators, most of 
them Republican, staged more filibusters in 
the last Congress, the 102d, than in the entire 
19th century. And evidence indicates that 
talkathons are being mounted in this current 
Congress nearly as rapidly, forcing 55 mo- 
tions to limit debate so far, compared with 62 
in all of the last two-year session. 

Senators have always considered their 
chamber the more deliberative body of Con- 
gress, and one of their most cherished rights is 
the ability of each member to speak almost 
endlessly on legislation. It is that right that 
gave birth to the filibuster. 

Under Senate rules, a filibuster can be 
halted only by passing a motion for cloture, 
requiring 60 voles. Since the Senate now has 
44 Republicans and 56 Democrats, the major- 
ity party often finds it difficult to get to 60. 

The result is that often the objection of one 
member raises the threat of a filibuster and is 
enough to delay action. It has become the 
most common of an array of procedural ma- 
neuvers Senate Republicans have been em- 
ploying to tie up Democrats trying to enact 
President Bill Clinton’s ambitious domestic 
agenda, including health care, crime and eco- 
nomic stimulus legislation. 

But now some House members are agitat- 
ing for change in the way the Senate does its 
business. For this increase in acrimony, some 
say the Democrats have mainly themselves to 
blame, particularly the way they have used 
the rules of the House to dominate that body 
where Republicans have been in a minority 
for 40 years. 

“They squeeze out the Republicans," said 
Charles O. Jones of the Brookings Institution. 


a Washington research group. “So Republi- 
cans would argue in defense of the filibuster: 
'Look what the Democrats have done in the 
House. The Senate is a place where we can 
still maintain some rights for the minority 
party, and we damn well are not going to give 
it up.’ ” (LA T) 

Whitewater Staff Dispersing 

WASHINGTON — Key prosecutors in the 
Whitewater investigation have told the inde- 
pendent counsel, Kenneth W. Starr, that they 
will leave as soon as he can hire a new staff, a 
development that is likely to cause delays in 
the sensitive investigation of Mr. Clinton's 
financial affairs. 

More than half of the staff attorneys have 
rebuffed Mr. Stan-’s request that they stay on 
to handle the investigation under his leader- 
ship. Although some of the lawyers say they 
have great respect for Mr. Starr, his Aug. 5 
selection by a three-judge federal panel to 
replace the special counsel. Robert B. Fiske 
Jr., created great anguish among the 
Whitewater staff. The prosecutors had been 
working long hours and were said to be near- 
ing indictments against some associated with 
the failed Madison Guaranty Savings & 
Loan, but not the Clintons. 

Mr. Starr's spokeswoman said he was con- 
sulting with “distinguished members of the 
legal community” for the names of possible 
staff replacements. (W'Pj 

Quote /Unquote 

Representative Jim Moran, Democrat of 
Virginia, whose 3-year-old daughter is under- 
going chemotherapy after surgery for a malig- 
nant brain tumor, on the health care issue: 
“Until now, I thought marginal reform was 
appropriate. But having been through this. I 
think we need to do more than that. 1 don’t 
ever want any parent to go through what 
Mary and I have been through. But I certainly 
don’t want them to go through it without the 
resources to pay for their child's care." (WP) 


Dole’s Latest Target: GATT Agreement 


Even so. Deputy Secretary of 
State Strobe Talbott said the 
use of force would be “a last 
resort." 

Mr. Deutch and Mr. Talbott 
headed a U.S. delegation that 
went to Kingston. Jamaica, on 
Tuesday and won unanimous 
supponof the 15-nauon Carib- 
bean Community and Common 
Market for the CN resolution. 

Administration officials are 
hopeful that the Bahamas. An- 
tigua and Guyana, which did 
not commit troops on Tuesda>. 
will do so eventually. They 
would supplement the roughly 
300 troops from other Caribbe- 
an nations. 


By Keith Bradsher 

Aw I’urfc Tima Service 

WASHINGTON — Only a 
few days after helping turn 
back President Bill Clinton's vi- 
sion of universal health care. 
Senator Bob Dole has begun 
urging that Congress not act 
until next year on another issue 
important to the Democratic 
White House: a global free- 
trade agreement. 

Mr. Dole, the Senate minor- 
ity leader, said in an opinion 
article that appeared in The 
Wichita Eagle on Sunday that 
although he supported the 117- 
nation pact, he and his constitu- 
ents in Kansas had many ques- 
tions about its cost and its 
effects on American labor and 
environmental laws. 

“We should not race to com- 
plete a major trade bill until we 
know what awaits us at the fin- 
ish line." he said, adding that 
the issue could be addressed 
next year. 

If approved by Congress, the 
pact would cut tariffs around 
the world by a third and expand 
the free-trade rules of the Gen- 
eral Agreement on Tariffs and 
Trade to cover new industries 
ranging from farming to ac- 
counting. A World Trade Orga- 
nization would administer the 
new rules. 

C. Clarkson Hine. a spokes- 


man for Mr. Dole, said Tuesday 
that the senator had taken this 
action because of unresolved is- 
sues concerning the trade agree- 
ment. not from any desire to 
give Mr. Clinton a political de- 
feat shortly before the Novem- 
ber election. 

“It’s not a political issue, it’s 
a trade issue,” he said. 

But congressional Democrats 
accused Mr. Dole of playing 
politics with an agreement that, 
by one estimate, could add 5 100 
billion a year to U.S. economic 
output in a decade. 

"I don’t think there is any 
question that there is a political 
dimension to this." said Repre- 
sentative Robert T. Matsui, 
Democrat of California, the 
chairman of the House Ways 
and Means Committee’s trade 
panel. 

Mr. Matsui said the United 
States would suffer internation- 
al embarrassment if Congress 
did not pass the agreement this 
year, because the world's lead- 
ing trading nations, including 
the United States, have infor- 
mally agreed to try to put the 
pact in place Jan. 1. The actual 
terms of the agreement, howev- 
er. allow countries to wait until 
July 1 to adopt it and change 
their tariffs and trade laws ac- 
cordingly. 

A Clinton administration of- 


ficial said: “We have every in- 
tention of working with the bi- 

F iartisan leadership and 
inishing it this year. We’re not 
going to play politics with 
trade.” 

But Mr. Dole’s newspaper ar- 
ticle emphasized that his hostil- 
ity to quick action was broadly 
grounded in his constituents' 
misgivings about the agree- 
ment. 

. “Calls and letLers have been 
flooding my office — and I am 
sure my colleagues’ offices, too 
— on the subject of implement- 
ing the WTO," the senator 
wrote. “People are concerned.” 

Mr. Dole accused the Clinton 
administration of not doing 
enough to explain to the public 
what was in the trade pact, 
which was reached last Decem- 
ber in Geneva after seven years 
of negotiations. 

Ralph Nader, the consumer 
advocate and an outspoken op- 
ponent of free-trade deals, said 
Mr. Dole's reference to constit- 


uents’ concerns could make ii 
more difficult for him to change 
his stance later. 

Mr. Clinton received some ol 
his highest ratings in op ini or 
polls after congressional ap- 
proval last November of tin 
North American Free Trade 
Agreement, which took effeci 
Jan. 1 and will eliminate trad< 
and investment barriers. 

The House Ways and Means 
Committee and the Senate Fi- 
nance Committee have pro- 
duced bills that use different 
approaches to raise the money 
needed to offset the S12 billion 
in federal tariff revenue over 
five years that the world trade 
pact would eliminate. 

The House also included a 
provision that would allow the 
president to negotiate furthex 
trade agreements that could in- 
clude trade sanctions againsi 
countries, including the United 
States, that use labor and envi- 
ronmental rules as trade barri- 
ers. 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 1, 1994 


Cornered Serbian and U.S. Presidents Take 


By Roger Cohen 

■Vw l’arit Tana Seme 

BELGRADE — Frustrated in its attempt to engi- 
neer a Bosnian settlement, the United States is 
looking at a new policy for ending the war — defeat 
or ouster of the Bosnian Serbian leaders with the 
help of their former patron, the Serbian president, 
Slobodan Milosevic, 

U is a high-risk policy for the Clinton administra- 
tion and for Mr. Milosevic. But after the Bosnian 
Serbs’ rejection in a referendum of an American- 
backed peace plan for Bosnia, it has emerged as the 
only alternative to an increase in the fighting. 

After some wavering, the Bosnian Serbian rejec- 
lion of the peace plan, which included a partition of 
Bosnia- Herzegovina, is now categorical and appears 
to be backed by over 90 percent of the Serbian 
population in Bosnia. 

‘The map is history," said an aide to Bosnian 
Serbian leader, Radovan Karadzic. "It is completely 
and totally and utterly unacceptable. You can put it 
in the archives.” 

But for the Clinton administration, which spent 
months drafting the plan with Russia. Britain, 
France, and Germany, the map’s offer of 51 percent 
of the territory to the Muslim-led Bosnian govern- 
ment and 49 percent to the Serbs amounts to a final 
attempt to reach what it regards as on equitable 
peace and will not be withdrawn. 

It is in this dogged pursuit of the proposed settle- 
ment that the outlines of an unlikely marriage of 


interests has emerged between the Clinton adminis- 
tration and its longtime Balkan enemy. Mr. Milose- 
vic. 

The United States, bereft of alternatives, wants 
the peace plan to stick; Mr. Milosevic, leading a 
country wearied by a long trade embargo, now 
wants the war he planned and backed to go away 
because he judges that the economic and political 
risks for its continuation have become too great. 

Thus, for the Serbian and the American presi- 
dents, the plan is the only way out. 

But the critical question for the Clinton adminis- 


NEWS ANALYSIS 


tration is bow far to support and how far to believe 
the man whose vision of a Greater Serbia was the 
vehicle of his rise to power and the centerpiece of his 
hold on it before he turned on the Bosnian Serbs 
three weeks ago and cut them off by closing the 
border. 

"Milosevic does not have a record of credibility 
that you would jump to accept," (me American 
official said, alluding to an earlier Serbian embargo 
on the Bosnian Serbs that quickly evaporated last 
year. "But this time he seems to mean business. And 
if we are satisfied that the embargo is airtight, the 
possibility of easing trade sanctions on Serbia would 
be looked at with favor." 

Inspections of the border by U.S. diplomats over 
the last three weeks suggested that it is virtually 


sealed. But officials said the Clinton administration 
would not be satisfied that the frontier is closed 
unless several hundred international monitors were 
allowed to station themselves there. 

This stance has already provoked tensions with 
Russia, whose foreign minister. Andrei V. Kozyrev, 
complained on Tuesday of "diplomatic inertia” and 
kittle flexibility" among the so-called contact group 
of countries in rewarding Mr. Milosevic for bis new 
stand. 

Mr. Kozyrev, at the very least, wants an opening 
of Belgrade airport. His desire for quick action is 
understandable. The political situation in Serbia is 
delicate. 

If Mr. Milosevic does agree to the placing of 
several hundred monitors on Serbian soil between 
his citizens and the Serbs west of the Drina River, he 
will be ridiculed by his former nationalist allies, the 
Serbian Radical Party of Vojislav Seselj. More im- 
portantly, there could well be some muttering in the 
ranks oi the Serbian-dominated Yugoslav Army. 

On the other hand, if Mr. Milosevic resists the 
American demand for monitors, and is not rewarded 
by an easing of sanctions for having turned on the 
Bosnian Serbs, his political support could erode. 
What, his opponents will ask, nave you gained by 
betraying our fellow Serbs? 

For now, with his control of the media and his 
deft exploitation of Serbian weariness with the war 
in Bosnia. Mr. Milosevic has kept firm control. 
Opinion polls that were hostile to the peace plan 


a Look at Togetherness 


have suddenly turned favorable. State television 
interviews lovers of peace rather than prosecutors of 
war. 

The fact remains, however, that he has taken 
considerable risk and headed into uncharted territo- 
ry by dumping the Bosnian Serbs. 

"Milosevic wants a lifting of sanctions and so he is 
prepared to push us into an unfavorable agree- 
ment,*' the senior aide to Mr. Karadzic said. “In 
other words, be is prepared to sell the more than 1 
million Serbs west of the Drina in order to strength- 
en his political situation. Our people are bitter and 
appalled by what he has done and if he thinks he can 
push our leaders from power, it is not going to 

work.” 

Certainly, the Bosnian Serbs, even isolated from 
Serbia, still have considerable assets — the support 
of the Orthodox Church, of most Serbs living out- 
side the region and of several opposition parties in 
Serbia. Moreover, even if the Bosnian Serbian refer- 
endum was imperfect, it suggests a considerable 
unity massed behind a powerful army led by the 
most skillful general in Bosnia, General Ratko Mla- 
dic. 

"Fuel is our one problematic issue," an aide to 
Mr. Karadzic said. "But as Serbia has done under 
the embargo, we will get it at a price. For now we 
have strategic reserves and our sources, like the 
Muslims in Gorazde who sell us what the United 
Nations hands out to them. We are not too worried.” 

The Bosnian Serbs are now’ preparing for a long 


war. For them, the peace plan is a recipe for extinc- 
tion. They want the plan scrapped and a solution 
built around an chang e where the Muslim-led 
government would give up enclaves in eastern Bos- 
nia for territory to the north and west of Sarajevo. 

"The solution lies in dividing Sarajevo and in 
granting international recognition to our stale or 
entity,” the senior Bosnian Serbian official said. 

An this is quite unacceptable to the Clinton ad- 
ministration, which therefore faces the uncomfort- 
able task of fulfilling its promise to press for a lifting 
of the arms embargo on the Bosnian Muslims after 
Oct. IS. More, and more intense, war would then 
follow. 

Unless, that is, something should happen to Mr. 
Karadzic. A year ago junior officers in the Bosnian 
Serbian militia staged an insurrection in Banja. 
Luka, placing tanks on the street and de m a nding 
elections and the removal of the Karadzic leader- 
ship, described as war profiteers. General Mladic 
managed to oplm the uprising. 

But links between the Yugoslav Army and the 
Bosnian Serbian forces remain strong. If Mr. Mpo- 
sevic has the Yugoslav Army behind his new policy, 
American officials believe restiveness may now exist 
among Bosnian Serbian officers. 

But one thing is dear. If the United States is ever 
to pry Mr. Karadzic from his anny and his com- 
mander, the only possible effective vehide is Mr. 
Milosevic. 


Bhutto Cancels Gaza Trip 
Over Dispute With Israelis 

Agcnce France- Pnsse 

ISLAMABAD, Pakistan — Prime Minister Benazir Bhutto 
has decided not to reschedule an aborted visit to the Gaza 
Strip, despite Israel’s decision to authorize the trip after three 
days of wrangling, officials said Wednesday. 

“We do not recognize Israeli authority in the Occupied 
Territories. So we do not need iheir permission," a foreign 
office spokesman said. "Bhutto bos called off the visit," he 
said. Miss Bhutto had planned to visit Gaza during her SepL 
4-6 trip to Egypt to attend the United Nations World Popula- 
tion conference. 

Yasser Arafat, head of the Palestine Liberation Organiza- 
tion. issued an invitation to Miss Bhutto to visit Gaza after 
Israel granted the Palestinians autonomy in the region. But 
Prime Minister Yitzhak Rabin of Israel stated that the self- 
rule agreement didnot give the PLO the right to gram visas to 
enter the Gaza Strip, and barred Miss Bhutto from the area 
without Israel’s approval. 

Foreign Minister Shimon Peres subsequently said he told 
Mr. Arafat that Israel had changed its position, and agreed to 
Miss Bhutto's visit. Mr. Peres said be had told Mr. Arafat that 
“we had no wish to damage the peace process or the Palestin- 
ian Authority. The problem was not Madame Bhutto, but the 
procedure." 


RUSSIANS; Good-Bye, Germany 


Continued from Page 1 

S acking up this week to return 
ome. Many face a sharp cut in 

f iay or outright demobilization 
rom an army that has shrunk 
from 4 million in 1988 to about 
1.6 million today. 

They leave behind them an 
ecological catastrophe. Collec- 
tively covering an area the size 
of Luxembourg, the former 
Russian encampments are satu- 
rated with a half-century’s 
worth of pollution, ranging 
from dumped motor oil and 
chemicals to artillery duds and 
abandoned vehicles. 

On Wednesday, however, the 
farewell rhetoric focused on the 
tens of thousands of Soviet sol- 


diers who fell during World 
War 11 and whose remains will 
stay on German soil even as 
their descendants return home. 

"Almost 320,000 of our sol- 
diers found their last resting 
place on German soil,” Mr. 
Yeltsin said. “But for their 


heroism, today’s Europe would . .. 

not exist and Germany would just home from his i 
not be prospering.” cheese factory. He had 


Quake Rocks Japan's North 

Reuters 

TOKYO — An earthquake 
with its major effects around 
Kushiro on the eastern coast of 
Hokkaido rocked wide areas of 
northern Japan on Wednesday. 


MOWER: 

Brotherly Love 

Continued from Page 1 
got new plugs." he says, recall- 
ing his forced stop in West 
Bend. Iowa. 

He had still more trouble 90 
miles later when he ran out of 
money in Charles City. By then 
it was mid-July, and his next 
Social Security check was near- 
ly two weeks away. 

Mr. Straight pulled over to 
the side of the road and lived 
out of his trailer, eating the gro- 
ceries he had packed, sleeping 
on the foam rubber he had 
brought and waving to the cars 
that whizzed past. 

“I wasn't uncomfortable,” he 
says. 

Mother Nature was his next 
enemy: Heavy rains stopped 
him for a week only 30 utiles 
from the Wisconsin border. 
“Pm not crazy enough to drive 
in the rain," he says. “If you 
can’t see, get off the damn 
road." 

After the rains eased, Mr. 
Straight hit the road again, soft- 
ly. On Aug. 16, he arrived at his 
brother’s trailer, having covered 
300 miles (counting his abortive 
first attempt). 

He had broken down a third 
time, and he made the last few 
furlongs with a fanner pushing 
his crippled lawn mower. 
Hank's son, Dayne, 22, was 
ob at a 
not seen 
Unde Ray in about six years, 
but when he saw a truck push- 
ing a mower with an elderly 
man astride, he immediately 
recognized kin. 

“I'm a Straight," says Dayne, 
as if that explained all there is 
to know about persistence. “We 
knew he was coming. It was just 
a matter of when he’d get here." 





CITY: Lidia’s New ‘Calcutta* 


Alvin Ray Straight, right, after arrival in Blue River, Wisconsin, to see his brother Hank. 


ULSTER: IRA Abandons Warfare for Peace Talks 


Continued from Page 1 

south. Among other things, it is 
not clear whether loyalist para- 
militaries, who have been in- 
volved in increasingly violent 
shadow warfare with the IRA, 
will abide by the cease-fire, or 
whether loyalist politicians, 
who are the IRA’s sworn cne- 


BOOKS 


MOTHERHOOD 

DEFERRED: 

A Woman’s Journey 

By Anne Taylor Fleming : 256 
pages. 523.95. Putman. 

Reviewed by 
Susan Cheevcr 

W HEN wc were little girls, 
our future was assured. 
While our brothers and fathers 
played baseball and learned 
how to exchange friendly shoul- 
der punches, our mothers 
(aught us to iron, sew, make 
hospital corners and bake cook- 
ies. the skills we would need 
'a hen we grew up to be like 
them — and like generations of 
women before them. 

Our dream was to get mar- 
ried. pass from being a daughter 
so being a wife os we walked 
down the aisle in a white dress, 
to live in a house with a picket 
fence and a yard for the kids, 
and to devoie our lives to our 
husband and children just the 
way our mothers did. 

Of course, that didn't hap- 
pen. Ironing; and sewing have 
become ancient arts. Marriages 
dissolve like soap bubbles. 
Women who never expected to 
work are playing office politics. 
Women who' thought their mar- 
riages were forever are in court 
with No. 3. Women who looked 
forward to quitting work when 
they got pregnant are struggling 
single mothers. And women 

who assumed that they would 
get married and have towheads, 
but kept putting it off, thrilled 
by the pill and its sex-without- 
fear. pleasurably stalled in a 
kind of generational DM2, are 
finding (hat while they stalled, 
their bodies aged and now it’s 
too late. 

Anne Taylor Fleming is one 


sperm, “here I lie, engaged in 
this procreation without sex.” 

At age 37 Fleming had every- 
thing — Southern Califomia- 
style — a successful satisfying 
career in television and maga- 
zines, a loving husband, plenty 
of money and lots of friends. 
Then she decided she wanted to 
have a child. 

This book, which is some- 
times funny, and sometimes 
sad, is the story of crying to get 
pregnant in a world where med- 
ical technology and ambition 
have overcome what we used to 
call destiny. 

The strongest part of this 
book is its clear-eyed, often an- 
gry reporting on what it’s like to 
go through every infertility 
treatment money can buy — 
and then another one. But 
Fleming also takes us backward 
into an account of her own life 
and the life of our generation. 

Anne Taylor — who grew up 
in Los Angeles as the daughter 
of a pretty, loving actress moth- 
er and a difficult, absent actor 
father — married journalist 
- Karl Fleming when she was 22, 
became stepmother to his two 
sons and enthusiastically began 
her successful career as a jour- 
nalist She was Gidget with 
brains, a sex-kitten warrior de- 
termined to avoid the trap of 
children and family. 

Although her marriage was 
good, she had seen her mother’s 
disintegrate, and the anger of 
the feminist writing she read 
echoed her own. She inhaled 

Sally Kempton's scream of 
marital rage in Esquire; she 
read Fried an and Millett and 
Greer. 

But freedom is never free. 
While Fleming explored the 
brave new world of life unen- 
cumbered by children, she 
missed other opportunities. 
Why did she wait? “As for real 


WHAT THEY'RE READING 


• Quentin Crisp, a Briton 
who loves to refer to himself as 
New York’s Resident Alien, is 
reading “The Gay Guvs Guide to 
Life: 462 Maxims, Manners and 
Mottoes for the Gay Nineties” by 
Ken Hanes. 

“It has lots of useful hints, 
like to wear high heels before 
Halloween rather than during." 

( John Brnnton, IHT) 



mind. “I finally slopped using ing here forever it seems," she 
— a : — i — writes of Mans’ clinic, “so com- 

pletely has this place been the 
locus of my attention and 
dreams — and my losses." 

Susan Cheever. whose most re- 
cent book is “ A Woman ‘s Life, " 
wrote this for The Washington 
Post. 


my diaphragm, my faithful 
trusty diaphragm." 

This book is the story of what 
happened next — and of Flem- 
ing’s difficult coming to terms 
with her own childless future. 
First nothing. Then the doctors 
and then the pills and finally 
the surgery. “I have been com- 


BRIDGE 


League’s Summer Na- permitted the last trump 

extracted. A diamond was 
ducked, and the spade return 
was ruffed. The ending was 


r***»«- 1 syior Fleming IS one nuy uiu sue nsiwi JW 

of those women, and ner de- maternity, I still felt no twitches 
tailed, inta^tjng book. "Moth- even as the first of my friends, 
erhood Deferred,” is the story 
of her search thro ugh the dense, 
expensive thi^eis of medical 
technology for baby she had 

nut off bavin*. *«5n all 


pul 


all of us around 30 now, began 
to have babies. I watched them 
with awe as they cuddled and 
cooed.” I too remember watch- 
ing with horror, as distin- 


By Alan Truscott 

S ALLY WOOLS EY, Joann 
Glasson, JoAnnn Manfidd. 
Jo Anne Cascn. Jan Martel and 
Georgiana Gates won the 
Women’s Knockout Team title 
at the American Contract 
Bri 
tion 

On the diagramed deal from 
an early round, Glasson landed 
in five dubs, which appeared to 
depend on an even heart split. 

NORTH (D) 

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WES1 EAST 

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SOUTH 
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East and West were vulnerable. 


West took one spade trick and 
shifting to a trump, won in 
d umm y. 

A heart was led to the ace, 
and a spade was ruffed. Dum- 
my’s remaining high trump was 
cashed, and a heart 


mies, will agree to participate in 
any peace process in which Mr. 
Adams ana his allies are at the 
table. 

Despite British assurances, 
there were sharp fears in loyal- 
ist neighborhoods that Britain 
may have made concessions to 
the IRA, including compromis- 
ing the cornerstone of British 
policy toward Northern Ire- 
land: the principle there can be 
no change in the status of Ul- 
ster without the consent of the 
majority of the people that live 
there. 

“Is our constitution bring 
tampered with or is it noL?” a 
statement issued by a loyalist 
paramilitary co mman d here de- 
manded to know. “What deals 
have been done?" 

At the same time, some loyal- 
ist and British politicians won- 
dered whether the calls for a 
"complete cessation" of mili- 
tary operations meant the IRA 
was agreeing to a permanent 
end to violence, as both the 
British and the Irish govern- 
ments had demanded last De- 
cember, when they jointly out- 
lined the terms under which the 
guerrilla organization might 
join the peace process. 

In London. Mr. Major said 
he was “greatly encouraged" by 
the IRA move, but also cau- 
tioned that “we need to be clear 
that this is indeed intended to 
be a permanent renunciation of 


For New Election 


this: 


NORTH 
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WEST 
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those years of ^out pro _ gmshed professional friends of 

creation," she v,-^ of herselft mine were reduced to singling 
propped in the stfcmpg ^ feny- and kitchy-coomg in the pres- 
ity doctor Rich** Wam mm cnce 0 f their own children. But 
eels a swinge of V husband’s then at 37, Fleming changed her 


The bidding: 
North East 

South 

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South led her last trump, 
throwing a diamond from dum- 
my, and squeezed East in the 
red suits to make her game. East 
was left to lament her failure to 
return a heart at the ninth trick 
to destroy the squeeze. 


The Associated Pros 
ROME — Umberto Boss!, 
the volatile leader of the North- 
era League, a member of the 
to the king governing coalition, on 
ump to be Wednesday reported that Prime 
Minister Silvio Berlusconi had 
asked the president to dissolve 
Parliament and call elections. 

Mr. Berlusconi scoffed at the 
suggestion. “I don’t waste my 
time denying nonsense," the 
ANSA news agency quoted him 
as saying. “I will propose a tax 
on chattering.” the office of 
President Oscar Luigi Scalfaro 
denied Mr. Bossi’s statement. 

Mr. Boss said he learned of 
Mr. Berlusconi’s request which 
he said came in a call to Mr. 
Scalfaro. from “sure sources.” 
Mr. Berlusconi’s office said no 
such call was made. 


Every Friday 

ContoO Fred Reran 
Tal.: [33 1)46 37 93 PI 
Fax: {33 1)46 37 93 70 
oryour nrarcsllHT office 
or representative 


TbeAuotiaied Prm 


violence, that is to say, for 
good.” 

If it is, be added, “then many 
options are open.” 

In Dublin, the Irish govern- 
ment described the IRA cease- 
fire as a “momentous decision,” 
and Dick Spring, the foreign 
minister, said he believed the 
announcement did meet the 
terms of the joint British-Irish 
peace blueprint "It b uncondi- 
tional, and I think that is ex- 
tremely important,” he said. 

Since 1969, the “troubles,” as 
they are known in Northern Ire- 
land, have claimed more than 
3,100 lives in both the province 
and on the British mainland, 
where the IRA carried its terror 
campaign in an effort to weak- 
en British resolve. The cycle of 
violence continued early 
Wednesday, with a rocket at- 
tack on a police station here. 

Skeptics noted that the IRA 
had called cease-fires in the 
past, in 1972 and 1975, but each 
time they dissolved in a new 
cyde of violence. As a result, 
even politicians like John Al- 
detdice, the leader of Northern 
Ireland's Alliance Party, which 
draws on both sides for sup- 
port, was urging caution. 

“I have to say that most peo- 
ple here feel they judge the IRA 
by their actions and not be their 
words,” Mr. Alder dice said. “So 
everyone will be watching very 
closely to see what happens." 
The announcement of the 

cease-fire was a direct result of 

a joint diplomatic initiative 

Bossi Reports Bid 

erate nationalist movement in 
Northern Ireland, and Mr. Ad- 
ams, seeking a way to break the 
impasse in the province and 
bring Sinn Fein into the peace 
talks. 

Building on that process, Mr.' 
Major and Mr. Reynolds out- 
lined last December a broad 
blueprint for peace in Northern 
Ir eland , including the demand 
that the IRA forswear violence 
as a condition of joining the 
peace process. It also called for 
discussion of ways in which all 
sides might eventually come to 
terms with the conflicting de- 
mands of republicans, who seek 
Irish unity, and loyalists, who 
insist on maintaining Northern 
Ireland's connection with Brit- 
ain. 

In recent weeks, there have 
been unconfirmed reports of a 
proposed compromise, in which 
the Irish government would 
agree to a referendum and 
would drop its long-standing 
claim to Northern Ireland, en- 
shrined in the republic's consti- 
tution, and Britain would, in 
return, amend the 1920 Gov- 
ernment of Ireland Act, which 
established the partition of 
north and south. 


Continued from Page I 

War improvisation — city offi- 
cials* have begun using data 
from satellites to identify unau- 
thorized building sites. 

More than half of the city's 
residents live in substandard 
housing, many in slums without 
access to ru nnin g water or 
proper sanitation facilities. The 
need for public services has re- 
sulted in rife corruption within 
city departments. It is now vir- 
tually impossible to obtain elec- 
tricity, telephone service or a 
cooking gas line without a 
bribe. The waiting list for a tele- 
phone contains 343,600 names. 

The air has become so foul 
from vehicles that traffic police- 
men at the city’s busiest inter- 
sections have been ordered to 
wear masks over their noses and 
mouths. A recent World Bank 
report listed New Delhi as one 
of the seven most polluted cities 
in the world. 

“Delhi is collapsing," said 
Ashish Bose, a demographer at 
Jawaharial Nehru University’s 
Institute of Economic Growth. 
“Its infrastructure has already 
collapsed.” 

And, according to many, the 
situation is only growing worse. 
“By the year 200 1 , Delhi will be 
the biggest slum in the world,” 
the city’s chief minister, Madan 
Lai Khurana, said in a recent 
report by the Voluntary Health 
Association of India. 

While Calcutta widely has 
been considered the world’s ul- 
timate symbol of Third World 
urban decay. New Delhi offi- 
cials and residents say the more 
up-to-date reality is die disinte- 
grating infrastructure of their 
race-grand capital 
Urban specialists say that 
megacities like New Delhi in 
the world's poorest countries 
are the globe’s fastest-growing 
urb^n centers. New Delhi’s 
population has doubled in the 
last decade, and it now has five 
times the population density of 
New York City. 

In 1950, seven of the 10 larg- 
est dties in the world were in 
industrialized countries. By the 
rad of this decade, according to 
projections by the United Na- 
tions Population Fund, eight of 
the top 10 will be in developing 
countries. Five of the world’s 2® 
biggest cities — New Delhi, 
Calcutta and Bombay; Dhaka, 
Bangladesh, and Karachi, Paki- 
stan — will be in South Asia, 
the largest concentration of me- 
gacities in any region. 

“While urban growth in 
many developing countries con- 
tinues at an unprecedented 
rate," a report by tbs UN fund 
said, “the cities' capacity to 
provide economic opportuni- 
ties and even modest levels of 
support services to newcomers 
is declining rather than increas- 
ing.” 

In New Delhi, maintenance 
of city services is virtually non- 
existent, any efforts dwarfed by 
the immensity of the task of 
caring for a crumbling city. 

When Chief Minister Khur- 
ana — New Delhi* s first elected 
mayor — took over last fall, he 
discovered that 40 percent of 
the city’s streetlights did not 
work and that hundreds of 
schools did not have r unning 
water, electricity or bathrooms. 

“People have become so frus- 
trated, they have lost all confi- 


dence in the Delhi govern- 
ment,'’ said Mr. Khurana, who 
campaigned on a pledge to 
make New Delhi “dean and 
beautiful'’ — a mammoth task, 
by his own admission. 

Perhaps the most obvious ex- 
ample of the city's problems, 
for both the rich and the poor, 
is its clogged streets, where 22 
milli on motorized vehicles com- 
pete for space with tens of thou- 
sands of cyde rickshaws, ox 
carts and pedestrians. The capi- 
tal’s rapid population growth, 

r By the year 
2001, Delhi will be 
the biggest slum 
in the world.’ 

Madan Lai Khmuna, 

The city’s chief 
minister. 

combined with the' car-buying 
power of its emerging middle 
class, puts 700 new vehicles on 
the road each day. 

“Every day when I set off to 
work, 1 just take God's name 
and start my scooter," said Nar- 
esh Bhatia, 38, a government 
bank employee. “The traffic 
management is very poor. No- 
body follows rules. It is very 
risky.” 

Police records show 'that 
1,730 people died on DdhTs 
chaotic streets last year —one 
of the highest numbers of traf- 
fic deaths of any city in the 
world, according to the World 
Health Organization. 

Eight out of every 100 of 
these deaths were of passengers 
boarding or leaving the city’s 
overloaded buses, which sel- 
dom halt at bus stops, fatting 
riders to run and leap aboard 
and to spring off the moving 
vehicle at their destinations. 
City officials say one of every 
five city buses is unfit for use, 
but add that the demand for 
transportation is so great that 
they must leave the buses on the 
roads. 

The combination of pressure 
for more homes, offices and 
shops in Delhi has led to an 
epidemic of what politicians 
call “encroachment. ’ Across 
New Delhi, private businesses 
and individuals have appropri- 
ated huge swaths of city land, 
building high-rise office build- 
ings, entire shuns and massive 
shopping areas — without per- 
mits, permission or land rights. 
About one-third of all the 
buildings in New Delhi are such 
“unauthorized" structures. 

K. J. Alphons, commissioner 
of land and projects for the all- 
powerful Delhi Development 
Authority, which controls much 
of the land in the catyand deter- 
mines what can be built on it, 
has launched an unpopular 
campaign to reclaim the city 
from encroachments. 

In 18 months, Mr. Alphons 
has boasted, he has knocked 
down 10,000 buildings and re- 
couped 458 acres (185 hectares) 
of land. But it is rare that even 
the crusading commissioner 
tackles the rich or famous. 

Mr. Bhatia, the bank worker, 
said as be sat on his motorbike, 
“If it’s like thi< now, I can’t 
imagine what Delhi wUl be like 
in the future." 


VATICAN; Attack on Gore 

own country, has also said she 
will not attend. 

_ Beyond the headline-grab- 
bing arguments over abortion, 
the Vatican is also fundamen- 
tally opposed to the idea that 
population growth in itself is 
necessarily a hindrance to de- 
velopment 

Mr. Navarro-Valls . again 
took issue Wednesday with Mr. 


I 

alliance with Islamic nations, 
the Vatican has won significant 
backing from Islamic scholars 
who, like some Roman Catholic 
figures, argue that the docu- 
ment promotes adolescent pro- 
miscuity, abortion and homo- 
sexuality. 

Saudi Arabia, Sudan and 
Lebanon have announced that 
they will not attend the 170- 
nation conference in Cairo, 
where Egyptian Islamic funda- 
mentalists have threatened to 
attack participants in what they 
term the “conference of licen- 
tiousness." 

Prime Minister Tansu Ciller 
of Turkey, worried by strength- 
ening Islamic sentiment in her 


Gore over 1 a reported remark 
explaining the bloodletting in 
Rwanda as a result of the Afri- 
can country’s population densi- 
ty. 

“To this, I could respond that 
tiie population density of Japan 
is much greater than that of 
Rwanda, and there is no danger 
of people killin g themselves 
there,” Mr. Navarro- Vails said.- 



I 




This week , boards of directors of Lockheed and 
Martin Marietta approved a definitive agreement to 
merge our corporations through an exchange of common 
stock. The new company will be called Lockheed Martin 
Corporation and -will have annual sales of nearly $23 
billion and employ approximately 1 70, 000 people. It 
will be a highly diversified, advanced technology 
company with core businesses in defense, space, energy, 
commercial, civil government and international markets. 

This merger of equals is about the new world in 
which we live and why Lockheed and Martin Marietta 
decided to join forces. 

It is about two healthy, successful companies. Both 
are noted for highly skilled and motivated workforces, 
technological accomplishment, superior performance, 
commitment to the most-demanding ethical standards 
and a diverse business base. 

It is about dynamic leadership in several critical 
industries, including national defense. Each company 
is strong and has a promising future. Together, they 
will be the model for a 21st-century’ company, even 
better positioned to benefit employees, customers, 
stockholders and the American taxpayer. 

For the lifetime of our companies, we have had as 
our main customer the U.S. Department of Defense. 
As budgets have turned down over the last decade, 
business declined for most defense-oriented 
companies; and the Department of Defense has 
encouraged consolidation. 

Lockheed and Martin Marietta have aggressively met 
this challenge. Martin Marietta combined with 
General Electric’s aerospace businesses and added 
General Dynamics’ space systems unit. Lockheed 


purchased General Dynamics’ F-16 fighter aircraft 
business. Combining facilities and workforces, these 
acquisitions today are delivering quality products and 
financial savings to customers and taxpayers, 
enhancing stockholder value and preserving more jobs 
than would otherwise have been possible. 

Both companies also have expanded into related 
non-defense markets. This merger will accelerate that 
movement, and the combined company will derive 
almost half of its revenues from non-defense and 
international businesses. 

So, while we will continue to support our nation’s 
critical defense needs, we also will help meet the 
challenges of our cities, our environment and our 
information age. 

Together, we also will be better able to compete in a 
global market. Combined, our international sales will 
preserve thousands of jobs in the United States. 

This merger cannot totally insulate us from the 
steep decline in defense spending. But, by bold and 
decisive action, we will save jobs that might otherwise 
be lost and protect vital elements of our nation’s 
defense industrial base. 

We believe the merger of these two great companies 
is good business. It is the next logical step in our 
continued growth and prosperity and will begin to 
realize its strong potential from the first day forward. 

We are extremely proud of the thousands of 
Lockheed and Martin Marietta employees who have 
served their nation so well and built two strong 
companies. 

With their talents and continued dedication, we are 
confident that together, the names Lockheed and 
Martin will set a new standard of excellence. 


Daniel M. Tellep Norman R. Augustine 









P- 



'■fl w wn «***“ — "'-rf 


■ ■ 

; 7 . .\j - 


Chairman CEO 

Lockheed Corporation 


Chairman CEO 












1 


Page 6 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 1, 1994 


By James Stemgold 

Sett York Tima Service 

SEOUL — Korean women forced into 
prostitution by the Japanese military in 
World War II rejected Tokyo’s SI billion 
assistance plan on Wednesday to atone for 
the activity. They called the' offer inade- 
quate: 

The 10-year Japanese plan provides for 
financing of student exchanges and train- 
ing programs, but involves no compensa- 
tion for victims. 

Some of the former Korean “comfort 
women," as the Japanese called them, 
demonstrated angrily outside the Japanese 
Embassy, throwing eggs and demanding 
direct compensation. 

There was a minor scuffle with riot po- 
licemen, but no reported injuries. Similar 
complaints were made in the Philippines. 


The Japanese have avoided direct com- 
pensation payments out of fear that it 
would unleash a wave of demands for 
money from the hundreds of thousands of 
people who suffered at the bands of the 
military during the war, from prisoners of 
war to forced laborers. 

Some of the ‘‘comfort women" have 
filed a lawsuit in Japan. 

The South Korean government did not 
comment directly on the plan, but a For- 
eign Ministry official said the government 
had been hoping Japan would focus on 
long-standing demands that it do more to 
repatriate Koreans who had been stranded 
in Russia after the war. 

Japan conscripted tens of thousands of 
Koreans during the decade it went to war 
with its Asian neighbors, using them as 
forced labor in Japan, China, the southern 



‘Comfort Women ’ Call Offer Inadequate c ^ ato 

Legislature 


half of Russia’s Sakhalin Island and else- 
where in the Padfic. 


ng the ct 
rf those 


many or those Koreans were left behind 
and then trapped when the Iron Curtain 
descended. Japan has said it would seek to 
find ways of repatriating some of those 
former laborers, but it has yet to an- 
nounced a concrete plan. 


In Hong Kong 


iSQUOK 

Romeo Capulong, a lawyer for Fuipino 
women forced into providing sex to the 
Japanese, as saying, “The admission of 
guilt and apology on the part of the Japa- 
nese policymakers and the Japanese gov- 
ernment carries with it the obligation to 
honor its commitments to pay direct com- 
pensation to the victims under the Geneva 
Convention of 1907." 


With Deep Apologies, Japan Gives Up on Satellite 


By Andrew Pollack 

Sen- York Tima Service 

TOKYO — Japan's space ambitions 
suffered an embarrassing setback Wednes- 
day when its space agency was forced to 
abandon an effort to place a showcase 
satellite into proper orbit 

Authorities said a malfunctioning valve 
in the satellite's engine made it impossible 
to steer the $415 million craft into the 
required orbit. 

“We have no choice but to give up," said 
Mass to Yamano, the president of the Na- 
tional Space Development Agency of Ja- 
pan. “1 deeply apologize." 

The government-owned satellite was 
lifted into space Sunday by Japan's new H- 
2 rocket, the first large launch vehicle de- 
veloped exclusively with Japanese technol- 


the 


ogy rather than under license from 
United States. 

The H-2 is the first Japanese rocket able 
to lift heavy communications or earth- 
observation satellites. Japan is counting it 
to enter the satellite-launch business. 

The Engineering Test Satellite 6, which 
weighs two tons, was the first such heavy 
satellite to be brought into space by the H- 
2. The mission was marked by a series of 
problems. 

Japanese officials said it was too early to 
discuss what impact the failure would have 
on the space program. Still, the officials 
and other space experts said that the prob- 
lem was with the satellite, not with the 
rocket, which performed wdL 

In most launches, the rocket carries the 
satellite into space and then the satellite is 
turned over to its operator to be moved 


into orbit In this case, Japan's space agen- 
cy was responsible for both. 

The satellite was designed to hone Ja- 
pan’s ability to build and control large 
satellites and to test advanced communica- 
tions such as intersatellite transmission 
and mobile-phone service osing satellites. 

Mitsubishi Electric Corp. was in charge 
of building the satellite but the engine that 
malfunctioned was manufactured by 
Ishikawajima-Harima Heavy Industries. 

This engine was the first Japanese one to 
use liquid fuel, which is commonly used on 
American satellite launches. Liquid-fuel 
engines are more complicated than the 
solid fuel Japan formerly used. 

Japan has no insurance to cover a failure 
of the satellite. The space agency is track- 
ing it with the help of the U.S.’ National 
Aeronautics and Space A dminis tration 


The Associated Press 

BEIJING — Fulfilling earli- 
er threats, Chinese legislators 
voted Wednesday to disband 
Hong Kong's legislature and 
other elected institutions when 
the colony reverts to Chinese 
rule in 1997. 

The vote means that demo- 
cratic reforms carried out in 
Hong Kong by Chris Patten, 
the colony’s London-appointed 
governor, are unlikely to sur- 
vive the Chinese takeover. 

Emily Lau, a prominent 
Hong Kong legislator, predict- 
ed that the vole would shake 
confidence in the colony and 
said it sent “a very bad signal to 
the community and also to the 
world." 

She added, ‘These are the 


people elected by the people of 
Hons 


long Kong, and their voices 
arc now being suppressed." 

The vote, reported by the of- 
ficial Xinhua News Agency, 
came on the final day of an 
eight-day session of the Stand- 
ing Committee of the National 
People’s. Congress. 

• The proposal to disband 
Hong Kong’s legislature, dis- 
trict and city councils was put 
forward last March by legisla- 
tors from Guangdong Province. 

It calls for a new legislature 
based on C hina ’s “basic law,” a 
mini -constitution for the colo- 
ny and decisions by the Nation- 
al People’s Congress. 


Thai Jewet 

Theft and Murder Inquiry Reaches Police Higher-Ups 


By William Bramgin 

Washington Post Service 

BANGKOK — When a Thai servant stole 


more than $20 million worth of jewelry from a 

five years ago 


royal palace in Saudi Arabia . 
and fled to his homeland, the Thai police 


swung into action. . 

They soon arrested the suspect, seized ms 
90-kflograin (200-pound) haul and, to demon- 
strate cooperation with the Saudi authorities, 
made a public show of returning the Iool 

Case closed. Or so the police had hoped. In 
fact, much of the “jewelry” given back to the 
Saudis tnmeri out to be fake, and many valu- 
able pieces were missing. That was just the 
b eginnin g of a scandal that has dogged a 
succession of Thai governments. 

The affair has left a trail of murder and 
intrigue worthy of a Hollywood thriller. It has 
also soured relations with Saudi Arabia and 
cost Thailand millions of dollars in lost reve- 
nue from a Saudi ban od employing any new 
Thai contract workers. 

Now the scandal is reaching into die upper 
echelons of the Thai police. On Aug. 15, a 
former police chief and his deputy woe offi- 
cially implicated in the case, the highest rank- 
ing of 15 police officers so far accused of 
involvement in the theft and cover-up. 

There are suspicions that the taint may 
stretch higher still. The former police chief. 
Sawat Amornwiwat, now a Thai senator and 
inspector-general of the Interior Ministry, 
proclaimed his innocence last week while 
blaming unidentified fellow officers. 

It all began in 1989 when Kriangkrai Te- 
chamong stole dozens of gems and pieces of 
jewelry from the palace of Prince Faisal bin 
Fahd, a son of King Fahd. 

According to Saudi Arabia’s top diplomat 
in Bangkok, Mohammed Said Khoja, (be sto- 


len items included diamond-studded 
watches, gem-encrusted necklaces 
carat diamond. . , ' 

In January 1990, the police caught Mr. 
Kriangkrai and “retrieved all the je^d™** 
Mr. Khoja said. But when it was returned to 
Saudi Arabia two months later, be said, 80 
percent of the items were missing and m<JSt of 
the rest were counterfeit. 

Mr, Kriangkrai. meanwhile, had bem con- 
victed and sentenced to five years in prison. 
Under Saudi pressure, Thailand reopened: 
the case in June 1991 and later charged four 


civilians with receiving stolen propertyTTie- 

*120,000 wbrfh 


authorities recovered about $120; 
of the missing jewelry and filed embezzlement 
charges against a senior police officer who 
had initially headed the investigation.; ' 

One of the four civilians, Santi Sriih ana - 
iran , is widely considered to be the key^to the 
affair. A prominent jewelry merchan t wit h 
high-level police connections, he received, 
much of the stolen jewelry and can incrimi- 
nate top police officials in the scandal, inves- 
tigators believe. Authorities want to use him, 
as a state witness against the 15 accused 
police officers. ■ 

Mr. Sand was recently kidnapped and held 
for three days in northern Thailand by un- 
known assailants, who reportedly warned him. 
to keep his mouth shut. 

His wife, Darawadee, 34, and son, Seri, 14, 
however, were found dead in a car -on a 
highway north of Bangkok on Aug. 1. . 

An autopsy showed injuries to their heads 
and necks that suggested they had been, hit 
with a heavy, blunt object. Initial press' &■ 
ports, quoting the police, said the two had 
apparently been murdered and left in the car, ' 
which was positioned to make it look as if the 
deaths had occurred in an accident. 


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PERSONALS 


THANK YOU SACRED HEART 
at lean and Sant Me (at ensramg 
my prayer*. 


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Tel: 1/206-2848600 
Fox: 1/206-282-6666 


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SOVEREIGN TRUST INTERNATIONAL 
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TEL: + 852 848' 

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INTERNATIONAL RECRUITMENT 


=if: v 

w”: ' 


:>■ 


3IO' 

DF 



International Fund 
for Agricultural Development 
(United Nations) 

(Rome, Italy) 

Seeks 

ASSISTANT CONTROLLER 

CP-5) 


Under the general direction of the Controller, the duties 
and responsibilities of the incumbent will be as follows: 


Responsible for the entire accounting system. This 


involves maintaining and/or improving the original 
system set up for the core needs of the Fi 


und, including 
funding for special programmes and grants etc. 

Responsible for the management of resources available 
for commitment; estimates of drawdown requirements; 
and drafting of related financial documents for official 
meetings. 

Responsible for the administration of accounts with 
cooperating institutions. 

Prepare quarterly financial statements and annual 
audited financial statements. Participate in all audit 
events as a resource person. 


Supervise (he detailed accounting for cash, investments 
and related income, loans. 


Supervise the detailed accounting and administration on 


all aspects of contributions 
countries. 


from IFAD’s member 


Other related duties. 
Qualifications and Experience: 


University degree in Accounting or equivalent. 10 to 15 
years’ experience in international accounting including 
computerized financial systems preferably in an 
international organization of the United Nations system 


or an international financial institution. Familiarity with 

I. Era 


computer skills. Good drafting abilities essential. English 


. at mother-tongue level. Wooing knowledge of French, 

’ • Spanish, Arabic or Italian an advantage. 


> Saury range from: us$si, 4€6 to ussea.oss per 
■Oftnum, plus post adjustment from US$15,234 to 
, us $20, 1 45 per annum. 

gNrriAL DURATION: 2 year fixed-term. 

ENT^y ON DUTY: as soon as possible. 


Ja *e send 2 copies of detailed curriculum vitae in 
■Jliatto: 


Personnel Division 

IFAD 

Via del Sereflco No. 107, 


00142 Rome, Italy 
{§043463 


Fa* No. 39(6) 




date far application: 23 September 1994 
canddates will receive an acknowledgement 
| WOMEN CAKCHMTES ARE PARDCUUflLY 0CCMW5S3 


MANAGING DIRECTOR 
U.S. PUBLIC RADIO CHANNEL FOR EUROPE 


USPR, the joint venture created and managed by 
Radio International (PRI) and the Corporation for P 


National Public Radio (NPR), Public 
ubtic Broadcasting (CPB) to distribute 


radio programming internationally, is seeking a Managing Director for its European Service 
to commence in late October. The position, based in London, involves considerabi 


considerable travel, 

primarily in Europe and secondarily in the U.S. The individual will manage all aspects of 
start-up business and will be accountable to three-person board. Must be results oriented 
with effective bottom-fine business skills and have willingness to shoulder considerable 
responsibility during start-up. 


Required Experience: 

• minimum 10 years in broadcasting or closely related industry, with at least three 
years in management 

• preparation and execution of marketing, fundraising and sales strategies 

• financial management including budgeting, revenue forecasting and reporting, 
financial reporting, purchasing and contracting 

• familiarity with public radio programming as heard in the U.S. 


Desired Experience: 

• knowledge of broadcast and cable industries in Europe, including competitive 
conditions, regulatory structures and overall industry trends 

• understanding of satellite, broadcast and/or cable technologies 
- participation with previous business' start-up 

• written and spoken fluency in at least one language in addition to English 


Salary 570-80,000 plus 
performance bonus. 


benefits, relocation/housing allowance, if necessary, and a 


Qualified applicants should send resume, references and salary history by September 26, 
1994 to: 


5trs€tg 

Washington, D.C. 20004-2037 


No phone calls, faxes or late submissions please. 


L. 


USPR is an Equal Opportunity Employer 


EXECUTIVE CAREER 
_ CONSULTANTS 


JOK. 3000 iota. 
1400 fans, tegetr current Est oo Hn 
market. Overseas fobs 534. USA iota 
S23. Both padtoga S5£ Visa. mC, 
toe*. Ours. Our I lth war. C/UBS 
WORLDWIDE 6® 84) 2134. 
PO Ba> 11720 Phoerfe. AZ 85061. 
FAX 602 841 5981. 


EXECUTIVE 

POSITIONS AVAILABLE 




CAPITAL INTERNATIONAL S.A 




We are one of fte world's 

ofoarEaropeanopeiatians.ireliaYeanopeiing’m 

created poszJkm of 


FOND ACCOUNTING MANAGER 


rfoarEgKyeaaFWaiidQtojlccoHigiDgDqiaitroenis.IbepQin^al^ 


mggfflmgal, atnyeihn j and rigp mnw mg w ft ririw i Vfc 

Thp snrrpgrfhl rantfabfa mud haro tm armnntmg g nalifr^fen, * r roron rerty 
togwroTroreriAw mm^m^ nrhpadwTtPTP^ariynntaTit addition tO 

haring significant expecence within the securities industry and with the 
management of a department, the fcflowingpexwaal qnaEties aze essential 
to succeed m this position: high level ofmitiative, ability to focus on 
objectives, good conamnaca tioB skills and team spirit Ffaency in both 
toglish and french are also regaled. 

A very competitive base salary, as well as an exceptionally attractive bonus 


Kindly forward in ccnSdeice ytM hsni- wiHicu spf&a&ou asd omicalam vitae (tx 

Capuai International S JL 
Director Admimstranan 

1 1, me de Ckanteponlet - 1201 GENEVE Jf 


EXECUTIVES 

AVAILABLE 


International Sales & 
Marketing Ideas For Hire 

Do vow want lo inwrale your company? 


oo m 
Wi 


mom 

moMe miiltUngirar Swiss Sales'S 


Marketing Director. 33, seeks new 
cTiaflenge with muJtiOomesiic service o( 
Industrial company as S & M. Director or 
General Manager. Eunfeg with desireJo try 
out new approaches. No non-sense 
ejipertence In FkffiG, Automodve Fnaodal 
Senricreh various markets. 


Faxyoftnianess-cantsr 
*+32-2-759 2&£9 gel myr&ami m worn 
and judge lot yourself that I mean business, 
AJtemativefy write to Box Nr 0000- 
intematronal Herald Tribune, 

a <J£!\9 v -S hartes - d6 ^ 3auB6 - 

92200 Neuttysur-S&ne - France. 


ARE YOU LOOKING TO 
REVEW THE DIRECTION OF 
YOUR CARS)? 


A HawSe ngouotetgaNSUMa 
BKTRMG MANUFACTURING 
«© MA8XETWG COMPANY, wMi 
ieoc&nq rxodud ronoe. a 
pos«I tolo undi mto H or^Wg and 

fetEflfter Bronson ofo fe I 

Asa Facrfic (Em n 


i nartats. 


W«( 


t currently saefcoa 
WOH CAUBRE IWlVDklMS 
TO SPEARHEAD TW 
EXPANSION PROGRAMME, 
■ter on o fiA-tew nworewf 
or port-ow oonsUtoncy boss. 
Dynarwc marfeteig end derotepmenf 
pten offer c+dfengng 
oppcrtonrtw rwiti unmemrae 
r caune ration potcrtoL 


A) in quMOsw * te held a the 
strkleB canfidentt- 


9252 


sf&xr-'*-'- 


Codex, Ftmto. 


GENERAL POSITIONS 
AVAILABLE 


. . NU aura OPPORTUNITY 
We ore an inti P8BS & ADVBI15ING 
AGB4CY toefang «fe» o»r«in«ofs. 
wayywafc 

• Between 24 and 30 years old 

• bterifenr appear ones. 


• EuOm comoKwi^of^Wi. French 


and knowledge of ! , 

• Dyoarac. emroueti, oonfefeni, «»- 

mdependew, seD-rnorivatecL 
■ Pr«3or#d to fowl 10 monsto a year 
rom residency and emended stays m 
■wWf countries. 

• No to penenco m sate necesscry. 


The job e/m* oareods on Ihe feqhest 
fe*«J cB om the world and a reword- 
rosotey. 

« you thmk you have *re drive and we 
wnbftote enough to take Ihe tfiefenae, 
•re «ouW Be you to send us you/ CV 
fo g eg » f with O recent photogaph 

pronewy te 

t/oNOA 

91, RUE DUF8G ST HONOKE 
75008 PAMS 


YOUNG AMERICAN WOMAN, 
dimly faxrctad wkh world afar. 
•tete to eiroand her horizons. Bocfc- 
raind in jefehrty tafenf coordnjk* ' 
FUK/rnerea reiahore, wriano^ Se«fa 
new challenge as press/soctoir 
PWWyd rerretory/spotespenon for 
pranaeat mferoubund basnes/ad- 
twcd/dplcinionc feoder/'orgOTiofen. 
E^mphonoOjr tafersed. resource^, 
fagual iwife, doc^feied. Dcsn» 
of travd/fareigi rekmiicn. toft* 
Ba* 5396k LH.T, 850 ThW Am, Btb ft. 
NY. NY 10022 USA 


-• :.l . 

fcKrf-r.;-.; • - 
*t:r. A?.? . 

j-.i .... . 

t?: - *.- • a „ 

— — . Si i ■ • 

• 


.« i 


B-OJUURAL Fra «Jp Amenasn wonoi 


relh experience n W1 Irodmg con- 
es. Wl basness law degree, soeta 


penes. I 


posdran as ceador tt. free to tevd 8 
faro 33-M7 07 54 » or 


tdoax. 

fine JJ*. (33-11 43 26 SO 50 


• S>/ixfj|if! thin 

.... ^ 

fesivw.-.. ... 

}kz ■ - .. 

J - •••• - ---• — 

■J -,::r • : 

5s. L. -. -V : , • . 


WANTS) {root Oetobre 1/94 
For 3-6 rnordfas 


YOUNG SBF-R&1ANT LADY 

(Unwerafy itudertj 


.re COMPANION to refined lady, 
rtenteed m Sretotand. on her Iroveh 
end to aAura) event 


The wassrfyJ appkont e of Engbh 
trolhtf tongoe. Fn» a chewfU penota- 
dy me earefew manners. She a sporty 
and cuhiraUr rraeieslesi 


UPSCALE 8U5WB5 

TRAVa MAGAZBC 
asanmcBd 

ADVBtnSNG SAXS MMAGBt 


Del muled. 


tor mtorao liuni q+rertnon. 

used to Ikgh 1 


, dyiuiBL, i _ 

oontaets. crcfah notaer tongue, 
iwS French ^j e fa r ri /- 
CVs to: Varan no Enfrwrisea 
22 rve St Dordreaue, 7507 PARS 
ar fax to Park, (t) 45 55 29 25 


eeecuttves available 


BU40UAL AUSTRIAN DIVESTMENT 
BAhKS, 30, seeto chofeogna wed 
OTopereoied oppodmiiy m Westen 
CWOpe (wnCim* roeoten conn- 
jnei) or Ain* da. Seeking new dte- 
fenge aatade borlang seas r, e*: Art. 
Daertremenr or efier. Eduoian m 
VX, MBA ei Eeonorna m lAema 
oeanxe repenenae in Corporate fi. 
raree. Ae&A end Business Deveiop- 
1 — ^en/rd “ — 


Garmoa/Engtei. sorne'^endf"^ 


AUSIBA. +42 (I) 513 13 B23, IW. 
PI 1L 


W yn W M Nn u. MANAGER, Me- 
dwnod Enpneer, Dust* 4& European 
* to eperm & knaps seeks 
aahan m any af the fofcf*w fakfe 
Mcydng of solronis 8 ptasics, fee 
»n nsbestw fibres, dKMOienatei 
F%B t raetaniton, waste treo mw e . ar 
ytotenfc wg rtc water, ronetkm 
Fat: [32) 3-309 2646 Briomm 


54 yrs 
poo- 


BMEO JWTBWATONA L), 
okL pjhtefeng, seeks chefenc 

fron. Accom e i g /diern sl ry 

WR amsidef any mst/wm affes/ 
JJ*oee*on (dso Asa fed Eb 
neree fe» tor reunie 
744 29W Pfare (61-21 7. 


WEHNG TO EXTBffi «r acthriSre 
worldwide? Frendi woraon, 30. US & 
Ead Em ope sdensive teen w n u l 
btmea tufonmx, scab daBereng 
era rewBtfng opportonry Hari 
JpAtofl. *2f to b-xrel, anfetters. 
Phase caB (3J*| J&03J2J5. 


Please reply wah photo end reiraces 
to Box 3687. LH.T, 

92521 Mr Cede*, Fiance. 


MIDDIE EAST 


u i»«SnpWMAflAGR 

Ui Coo prey B looking lor a htdde 
Operations Manager. We ae a 
manufocrurer of repaevnent ffter 
rort/jdge for a» hntanei. Ties 
‘namdual waM fvntftan as fee 
.coppasyc safes 8 fedwned odroor to 
ogtnn erfce Mddd Eos. 

CONTACT: Mr. Ted Greenlee* 


_TDC (Star Manefaditrino I 

55fe Cans. Ocero, H 60650 


T331 S. ( 

TeL70B-863-4400 Fax708463-«07 LSA 


DMiMflB EAMNO POtefflAL 
Amenccto Co. seriua coreultaia with 
retenave rtem u nun u l b n c fajiuun d to 
/nmis its Global Medea! Insurance 
dssgnad for Amencon atara 
OBtw UJA and far fa 
rego&sa of tfepshp. 

Contact Mr. Douglas Fotfrai 
&npje Stare BuWnq, 350 FSh Aro 
jSytte I9M New Tax NY ions us* 
■eh 212-2^5488 Fat 212-268-5^3 


VSPONSffilf MBA STU0B4T, seeto 
housesjftmg in Paris. WB ranted 
doaanerts, care for pah; oven** 
worionen, **- Good references, leave 
nessaig; far Jobs m PAHS at flj 


<5^ 
iS- 


I ft between 9aa and 5sin. 


*'**'*i- v- 


WTBtBTTNG POSITION lEQURB) 

PA/Cowier/Driver etc. Fret to traveL 


Knowfecfae of Arahe. Tefe +44 (0)925 
821779fe +44 M925 445WB. 


AMHUCAN, privara imefertor/in- 

fannation gatherer/PS seeks work 

woridwk Tel/Fax 39-2 781936. 


SECRETARIAL 
POSmONS AVAILABLE 


W'ff 

: 


fe-.- 

S* 1 '' ■ : 


ASSOCIATION | ror*» Bi 1909] 
recherche SEOSAUF 
PAO (QUAROTSESSJ + todtn + 
polyvalent Pten temps. La DMac. 
Adrestor CV + prttarenm 
1 le T5 tepte m hre 1994 6=. 


V •; 

"C 

Xc;r.- - 


. AIPC8, La Gtcwda Ardra. Pfe i Nor d^ 


Nv 1, 92055 Porii fa DNante Cadtx I 


^ JUNCdaOBAW 
far stool fare breed conadfafl 
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INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 1, 1994 


Page 7 





uQ CEASE - FIRE / 


* ! Wary Path to Peace 
i Of an IRA Politician 

i 

:• j. 

Adams Shows He Can Deliver 



wnw; 

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By James F. Clarity 

.Yew Yoiii Tima Service 

DUBLIN — Only a month 
ago, Gerry Adams, the Irish Re- 
publican Army’s chief political 
leader, seemed on the verge of 
blocking further progress to- 
ward peace in Northern Ire- 
land. 

As president of Sinn Fein, 
the IRA's political wing, he pre- 

NEWS ANALYSIS 

sided over a party conference 
that rejected important ele- 
ments of the initiative made in 
December by Prime Ministers 
John Major of Britain and Al- 
bert Reynolds of Ireland. 

Mr. Adams insisted at the 
time that peace prospects were 
still alive, but few ordinary peo- 
ple or officials, diplomats and 
independent analysts believed 
Mm. They thought he had crip- 
pled the peace process and that 
the Downing Street Declaration 
of Dec. IS was dying or dead. 
The declaration offered Mr. 
Adams a place at the negotiat- 
ing table in exchange for a con- 
vincing IRA cease-fire and for- 
mal renunciation of the 
campaign of killing. 

But within weeks, Mr. Ad- 

. »nw has shown OOCC a gain that 

; he is a major catalyst in the 
- Northern Ireland guerrilla war 
and its politics and that be can 
deliver an IRA cease-fire. The 
analysts had to reconsider their 
assessments. They now feel that 
Mr. Adams knew what he was 
doing when he refused to have 
his party renounce violence. He 
needed, they say. the hard-line 
stance for two reasons. 

First, to show the gunners of 
the IRA that Sinn Fein could 
still stand up to the British and. 
with honor and some defiance, 
decline to jump at crumbs from 
the master's table. Second, Mr. 
Adams is believed to have been 
withholding Sinn Fein accep- 
tance of the Irish-British initia- 
■ tive until he got some conces- 
sions from London. 

The concessions appeared to 
come in the form of Britain’s 
allowing a few IRA prisoners to 
be released from jails in main- 
land Britain to Northern Ire- 
land, and in a statement by the 
head of British security in the 
North that a prolonged cease- 
fire would reduce patrols by 
British soldiers. 

The British also indicated a 
new flexibility cm the question 
of the partition of the island; an 
end to partition, and the incor- 
poration of the North into a 
new united Ireland, is the ulti- 
mate goal of the IRA. 

While this was happening, 
Mr. Adams’s position was given 
tacit support by two of Ire- 
land’s most influential figures. 
Prime Minister Reynolds and 
John Hume, the mainstream 
Northern Ireland Roman Cath- 
olic leader. 


Mr. Hume had 16 months 
ago began secret talks with Mr. 
Adams, normally his political 
enemy. The talks led to the 
Irish-British declaration and to 
the IRA cease-fire on Wednes- 
day. 

The cease-fire announcement 
evoked derisive accusations 
from Protestant leaders in the 
North, that Mr. Adams had 
made a secret deal with Britain, 
with the help of Mr. Reynolds. 
“There’s no secret deaf under 
the table,” Mr. Reynolds said 
Wednesday. 

But Tun Pat Coogan, a histo- 
rian and author of a standard 
reference work on the IRA. 
said: “If they’re going to the 
table, they want to know what's 
on the table. They wouldn't be 
calling a cease-fire to try to buy 
a pig in a poke." 

One of the main questions 
raised by the IRA move and 
Mr. Adams's tactics is: Why 
now? Mr. Adams has empha- 
sized in recent days that the 
IRA, which has killed more 
than half of the 3, 168 victims of 
the 25-year guerrilla war, in- 
cluding 648 members of the 
British security forces, has not 
been militarily defeated. His 
supporters, and many indepen- 
dent Irish officials, say this 
means that the IRA is indeed 
succeeding in bombing its way 
to the peace table. 

Mr. Hume put it another 
way: “They recognize that a po- 
litical agreement will achieve 
more.” 

Former Prime Minis ter Gar- 
ret FitzGerald, who negotiated 
with Prime Minister Margaret 
Thatcher Ireland’s first formal 
right to consult on Northern I 
Ireland affairs, said Sm« Fein 
realized that “people weren’t 
going to vote for them while the 
IRA is going around murdering 
people.” 

Mr. Adams has already be- 
gun to press for an immediate 
place at the negotiating table to 
discuss issues such as amnesty 
for prisoners, withdrawal of 
British troops from the streets 
and the end of the British regu- 
lation that bans his voice from 
radio and television. He also 
wants a referendum on whether 
the North should become one 
with the Irish Republic. He and 
other the republicans want an 
Ireland-wide vote, in which 
they would expect a united Ire- 
land to be approved. 

But Irish and British policy 
now states that no change in the 
status of the North wUI come 
without the approval of the ma- 
jority, which is Protestant and 
committed to remaining part of 
Britain. Mr. Adams says that, 
having grown up with Protes- 
tants in Belfast, he understands 
ihdr sensibilities and fears of 
being incorporated into a pre- 
dominantly Catholic united Ire- 
land. 


TRUCE: Solution Hard to Imagine 




V - 0 






CoatEQtsed from Page 1 


Irish banner through the streets 
or Belfast, Protestant political 
leaders were criticizing the IRA 
statement because, although it 
said that “the cessation of mili- 
tary operations” was “total,” it 
did not say that it was “perma- 
nent.” 

The permanent renunciation 
of violence was a condition set 
by the British in December for 
exploratory talks to begin, 
though in secret contacts earlier 
in the year they said they under- 
stood that a public statement to 
this effect might be difficult for 
the IRA and that the assurance 
coulo be given privately. 

So Prime Minister John Ma- 
jor’s reaction to the IRA an- 
nouncement picked up that 
theme: that the cessation had to 
be permanent. His statement 
was tempered by the knowledge 
(hat he could not afford to 
alienate the Ulster unionist pol- 
iticians who give him a working 
majority in Parliament and by 
the realization that he would 
face a revolt from his own Con- 
servative backbenchers if he 
seemed to grab the offer too 

enthusiastically. 

Treading a fine line between 
optimism and skepticism, he 
said he was “greatly encour- 
aged” by the IRA move : and 
w nt on: “But we need to be 
clear that this is indeed intend- 
ed to be a permanent renuncia- 
tion of violence, that is to say. 


“Let words now 
i deeds.” 

ken as an indica- 
British govent- 
i testing period of 

or so to see if the 

ieed refrain from 
other acts of vio- 
iy be more diffi- 
linds. for the t*- 
e Protestant side 
o provoke such a 
utile the deal. 

ats. the so- called 
extremists have 
dive as the IRA. 
jaign of shooting 


Catholic victims at random to 
sow terror has run up a higher 
death toU. 

“Everything turns on how 
this plays in the Protestant 
working-class ghettos,” said 
one diplomat. “If the mood is 
that this is a sellout and the 
product of a secret deal, we 
could see a tremendous flare-up 
of violence from the Protestant 
paramilitaries.” 

Politicians favoring a settle- 
ment, like Prime Minister Al- 
bert Reynolds of Ireland, went 
to great lengths Wednesday to 
pledge that there had been no 
backroom deals, while politi- 
cians against one, like the Rev- 
erend Ian Paisley of the extreme 
Democratic Unionist Party, as- 
serted that there bad been. 

A surge of violence from 
Protestant extremists, especial- 
ly if it occurs over a long period 
and gives the impression that 
Catholic neighborhoods are be- 
ing decimated by gunmen that 
British security forces are un- 
able to contain, could feed the 
hard-liners within the IRA or 
even cause a splinter group to 
break off and resume the armed 
snuggle. 


U.K. Ferry Firm Stops 
Shipments of livestock 

Retaers 

LONDON — The British 
ferry company Siena Seal ink, 
bowing to public pressure, said 
Wednesday it would stop carry- 
ing live farm animals for 
slaughter on the Continent. 

Siena said the ban, the first 
by a fern' company, would be- 
gin Thursday and stay in force 
until legislation was introduced 
on transporting livestock that 
was acceptable to animal wel- 
fare groups. Supporters of such 
groups have flooded fern' com- 
panies with letters after a series 
of reports about livestock being 
carried for hours without food 
or water and in overcrowded 
conditions. 









Kctin Linurqud. Rrurer. 


A soldier bugging a wall Wednesday on patrol in Belfast 


The Troubles: A Long and Bitter History 


The Aisixmicti Press 

BELFAST — Northern Ireland's “trou- 
bles" are rooted in nationalist conflict, 
religious bigotry and grudges nursed 
through the generations. But the current 
cycle of violence dates to a single evem in 
1968. 

On Oct. 5 of that year, about 400 Catho- 
lic civil rights marchers were attacked by 
the police as they tried to cross a bridge 
into the center of Londonderry. 

Television film of the melee’ taken by a 
cameraman from Ireland’s RTE network, 
was distributed to many countries. 

Gerry Fitt, one of the leaders of the 
march and one of the first to be dubbed, 
said later that he had said a prayer of 
thanks as he felt blood flow down his face. 

“J knew that at last Northern Ireland as 
she really was would be seen before the 
world,” he said. 

The television coverage “destabilized 
Northern Ireland, and the sectarian drag- 
on was fully reawakened," Jonathan Bar- 
don wrote in “Ulster,” a history of the 
province. 

That incident energized the Catholic 
dvil rights movement, and the next month 
nearly 20,000 joined in a demonstration in 
Londonderry. But it also aroused a back- 
lash from the Protestant majority. 

Violence exploded on Aug. 12, 1969, in 
Londonderry, during the ann ual march bv 
the Apprentice Boys, a Protestant fraternal 
organization that celebrates the victory of 


Protestant forces over the Catholic King 
James II in 1690. 

Clashes between marchers and CaLhclic 
demonstrators degenerated into the so- 
called Battle of Lhe Bogside. as Catholics 
from that district fought street battles with 
police officers. 

Riots broke out in Catholic areas 
around Northern Ireland. In Belfast, gun- 
fire erupted as the police confronted Cath- 
olic youths, while Protestants gathered be- 
hind police lines. Someone fired a shot, 
gunfire erupted and Protestant mobs 
surged into Catholic neighborhoods, de- 
stroying more than 100 houses with gaso- 
line bombs and damaging many more. 

The next day, the British government 
put troops on the streets, where at first 
they got an enthusiastic welcome from 
Catholics. The IRA was moribund, and 
some graffiti writers painted “I Ran 
Away" on walls to reproach the organiza- 
tion for not defending Catholics. 

Hard-liners in the old IRA broke away 
to fonn a new “provisional’' wing, which 
began organizing in Belfast and launched a 
bombing campaign in the capital in the 
summer of 1970. 

The troubles, of course, did not stem 
from a single incident. The Catholic 
marchers were protesting discrimination in 
jobs, bousing and voting. The police reac- 
tion reflected a Protestant ethic of “no 
surrender" and the old fear^f domination 
by the Catholic majority in Ireland. 


People in Northern Ireland often point 
far back in history for the roots of their 
conflict, sometimes all the wav to the Nor- 
man invasion in the 12th century. 

But it was the “plantation of Ulster" by 
Scottish and English farmers in the 17th 
century that began the division now char- 
acterizing Northern Ireland. 

The settlement was intended to secure 
English control of Ireland, and the Protes- 
tant newcomers from Scotland and Eng- 
land displaced the native Irish from some 
of the best lands. 

The campaign for “home rule” in Ire- 
land in the 19th century sharpened divi- 
sions in Northern Ireland, where Protes- 
tants feared being subservient to an Irish 
Parliament dominated by Catholics. Prot- 
estants organized as the Ulster Volunteer 
Force smuggled nuns into Lhe north in 
1914. 

The Government of Ireland Act of ! 920. 
which granted a degree of independence to 
Ireland, provided for a separate Parlia- 
ment for Northern Ireland. 

The border, which embraced only six of 
the historic nine counties of Ulster, was 
drawn to ensure a Protestant majority. 

Outsiders, including British officials, of- 
ten find Northern Ireland's politics incom- 
prehensible. 

“For God’s sake bring me a large 
Scotch." the British home secretary. Regi- 
nald Maudling. exclaimed after his fir&i 
visit in 1970. “What a bloody awful coun- 
try!” 



And again on the 5th, the 6th and the 7th... 


In fact, we fly direct, from Europe to Japan's 
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THURSDAY, SEPTEMBER 1, 1994 



OPINION 


Hfralb 


INTERNATIONAL 



Sribuuc 


PUBLISHED WITH tllE NKW YfJRk TIHIKS AND THE WASHINGTON POST 


Military Mega-Merger 

vigorously both at home and abroad, 
where man 


Perhaps the Way to Go 

jjTuesday’s announcement that two giant 
defense contractors, Lockheed and Martin 
Marietta, plan to merge into a single huge 
^Hnpany is the most dramatic evidence 
yet of the Changes now roiling the U.S. 
defense industry. Such mergers appear al- 
Jttwt inevitable os companies struggle to 
®ffyive in a sharply declining market for 
military procurement. Done carefully, 
consolidation may be the best way to 
preserve a strong defense industry. 

The only concern is whether the compa- 
ny win become so dominant that it can 
dictate prices and terms to the Pentagon 
witho ut fear of competition. The proposed 
merger deserves the strongest possible 
scrutiny by the Federal Trade Commis- 
sron or the antitrust division of the Justice 
Department, which needs to show that it 
has recovered from somnolence during the 
Reagan and Bush administrations. 

■ 'At first blush, the merger looks as if it 
will do more good than harm. The Lock- 
heed Martin Corporation would be by far 
thfe largest defense giant, with combined 
1993 sales of S22.5 billion, well above the 
namer-up, McDonnell Douglas, at S14.4 
trillion. The merged company's size would 
give it the financial heft to compete more 

The Merger Dilemma 

Martin Marietta's merger with Lock- 
heed tightens the dilemma for their biggest 
customer, the U.S. government As de- 
fense spending declines, an immense pro- 
cess of consolidation is under way in the 
industries that provide the equipment that 
thi military and intelligence services buy. 
Frequently the Defense Department en- 
courages that process, to hold down over- 
head and preserve the leading companies' 
research and development capabilities. 
But each merger and sale reduces the num- 
ber of companies that are competing. As 
always, less competition raises the threat 
of higher prices and lower efficiency. 

° Earlier this summer, Martin Marietta, 
Lockheed and TRW Inc. were competing 
for a huge contract to build intelligence 
satellites for the Pentagon's National Re- 
copnaissance Office. Martin Marietta 
won, establishing it as the leader in that 
arcane technology. The next time a con- 
tract for that kind of satellite comes up. the 
bidding is likely to be much less intense. 
Instead of three competitors there will be 
only Lwo, one of them a lot bigger and 
better entrenched than the other. 

Several companies will still produce 
combat aircraft, and a number have great 
competence in defense electronics. But 


: many competitors are huge mono- 
polies receiving government subsidies or 
owned by the government. The merger 
may also yield better weapons by incor- 
porating the strengths of each company. 
One possibility: put Martin's avionics 
and radars on Lockheed's C-130 cargo 
plane to produce relatively low-cost 
AWACS detection and tracking. 

The price to be paid in any merger is 
loss of competition that can yield better 
products at lower cost. By that yardstick, 
the Lodebeed-Martin merger may turn out 
benign. The two companies appear to have 
mostly complementary product tines, with 
Lockheed strong in military aircraft and 
Martin strong in military electronics and 
heavy-launch rockets. There is dearly 
some overlap; both make military satel- 
lites, for example. But if reviews by the 
Pentagon and antitrust regulators find no 
great loss in competition, or if competition 
can be restored by sp inning off certain 
units, the merger seems sensible. 

Indeed, mergers are probably the way to 
go as defense procurement continues to 
plunge. Better that than leaving military 
needs to an array of shaky companies 
whose survival is in question. 

— THE NEW YORK TIMES 


Lockheed Martin, as the merged company 
will be known, will represent most of 
America's capacity to produce certain 
types of satellites that the Pentagon needs, 
as well as the big rockets that launch them. 
Martin Marietta bought General Electric's 
aerospace operations in 1992 and General 
Dynamics' space division earlier this year. 

The two merging companies estimate 
that together, they will do about 60 per- 
cent of their total business this year with 
the Pentagon. That makes it vital to them 
just as they, the sole suppliers of a range of 
important technologies, will be vital to the 
Pentagon. In that tight relationship all 
sorts of dangers lurk, for the pressure on 
the Pentagon to keep the new Lockheed 
Martin alive and well will be immense. 
The two companies say they intend to use 
their merged resources to broaden their 
lines of business and devote more atten- 
tion to nondefense products. That inten- 
tion is wise, but even if it is successful it 
will take time for them to cany it out 

This merger is one that is going to 
require careful examination by the De- 
fense Department, the Justice Depart- 
ment and Congress. Consolidation does 
not necessarily increase the country’s in- 
dustrial strength if it crucially reduces 
competition in an essential field. 

— THE WASHINGTON POST. 


Dialogue With Havana 


Less than two weeks after the Clinton 
administration vowed that it would never 
let Fidel Castro dictate a change in U.S. 
immigration policy, Washington is ready 
to oner Mr. Castro the policy change he 
seeks. In talks beginning on Thursday in 
New York, the administration will pro- 
pose a sharp expansion in legal immigra- 
tion from Cuba if the Castro regime agrees 
to halt the mass exodus of raft people it 
began permitting earlier this month. 

The shift is embarrassing for an admin- 
istration already famous for its serial flip- 
flops in foreign affairs. But the proposal 
makes sense for both governments and 
could prevent desperate Cubans from risk- 
ing their lives at sea. It is a case of a messy 
process lurching toward a worthy goal. 

Since 1990, Cuba, like all other coun- 
tries. has been allotted a quota of 27,845 
immigrant visas to the United Suites. But 
fewer than a tenth that number have been 
granted, because eligibility Is governed by 
a complicated system of preferences Allo- 
cated on a worldwide basis. Apart from 
immediate family members of U.S. citi- 
zens, most of these preference categories 
are oversubscribed, some with 10-year 
waiting lists. Havana has long argued that 
by issuing so few legal visas while (until 
two weeks ago) granting admission to boat 
people under the Cuban Adjustment Act. 
Washington was encouraging the mass de- 
partures it now complains about. 

Without conceding that point, the ad- 
ministration is now looking for ways it 
could move eligible Cubans to the front of 
the queue without reducing the slots avail- 
able for those who have been waiting for 
years from other countries. In return. Ha- 
vana would be expected to clamp down on 
departures by boat or raft. That would be 
a good deal for Havana. It would open a 
controlled safety valve for discontented 
Cubans and represent a grudging admis- 
sion by the United States that the Castro 
regime must be dealt with on practical 
matters for the foreseeable future; 

It would also be a good deal for on 
administration terrified of u repeat of the 
Mariel boatlift of 1980. which included 
criminals direct from Cuban jails. Bill 
Clinton believes that M oriel's repercus- 


sions contributed to his own re-election 
defeat for governor, and Jimmy Carter's 
for president In contrast, an expansion of 
carefully screened legal departures could 
be a political plus, so long as Havana 
pledges not to harass visa-seekers. 

Surely such an arrangement could have 
been reached months or even years ago, 
without the appearance of bowing to Mr. 
Castro's manipulations and without the 
polity lurches of the past two weeks. The 
administration got off on the wrong track 
because its first reactions reflected only 
domestic politics and later because it 
paid too much heed to hard-line Cuban- 
American leaders not fully representative 
of their own community. 

Now, with foreign-policy makers finally 
focused on Cuba, a more considered poli- 
cy seems to be emerging. Some officials 
wen suggest that if the talks on immigra- 
tion issues prove productive, the dialogue 
might be widened. Such a broadening or 
the agenda is something that Washington 
was vehemently ruling out only last week. 

Ruling it back in is a good idea. One 
more reversal win scarcely be noticed. 
Only by expanding these talks to the full 
range of Washington-Havana relations 
can the Clinton administration hope to 
draw any lasting credit from its woozy 
handling of the Cuba issue. 

— THE SEW YORK TIMES. 

Other Comment 

Defeat of the Mexican Left 

With the final results of Mexico's 
Aug. 21 election now a matter of record, 
it is increasingly clear that the political 
left suffered a devastating defeat. The 
expectation that Cuauhtemoc Cardenas 
would do well was fostered by leftist 
intellectuals who have demonstrated 
over the years that they are out of touch 
with the masses. The more the Mexican 
people suffered a decline in Lheir stan- 
dard of living, the more they looked to 
the PRI for the government largesse so 
necessary for survival. 

— The Baltimore Sun. 



International Herald Tnbune 

ESTABLISHED HtS? 

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Call in Cairo: The Roles of Both Genders 



N EW YORK — The outcome of the 
previous UN population confer- 
ences, in Bucharest in 1974 and Mexico 
Qty in 1984, was a policy of population 
stabilization that targeted population 
goals at the national level, through gov- 
ernments that would, try to create policy 
and pass laws. Goals were imposed on 
the individual first through international 
and then through national institutions. 
What those efforts didn't do was estab- 
lish an enabling environment. 

The 1994 Cairo conference plan of 
action focuses both on population and 
on development. It broadens the scope of 
population policy from the narrow focus 
on family planning and fertility to other 
issues of sustainable development and 
empowerment of the individual, particu- 
larly women, to make decisions. 

The keystone, then, of the Cairo plan is 
gender equality, equity and empower- 
ment of women, women are half the 
population of the wodd, half the popula- 
tion of every country. Because women 
are the only ones who become pregnant 
and bear children, population policy 
must be dealt with by them. 

□ 

In the preparatory meetings over the 
last two and a half years, every single 
government spoke of the importance of 
empowering women, of having women in 
the decision-making process. They 
couldn't say enough about the need for 
equal gender roles. From the African 
countries to the Latin American countries 

The needs of women should he 
addressed in consultation vnlh 
them, not as a prescription to 
them and imposed upon them. 

and Arab countries, all of them spoke of 
the importance of the role of women. 

Ninety percent of the governments 
have also agreed to the conference docu- 
ment as is, except for a few of the brack- 
ets. It is only on abortion — the whole 
subject of reproductive health, women's 
rights and abortion is so fraught with 
emotional overtones — that there are 
different points of view even though the 
document does not at all suggest legal- 
ization of abortion. 

The subject of control is what mainly 
concerns religious leaders. Throughout 
history, anthropological, cultural, social 
and religious norms have supported fer- 
tility control That has been used to sub- 


By Nafis Sadik 

The writer, executive director of the United 
Nations Population Fund, is secretary - 
general of the International Conference 
on Population and Development. 

The conference opens in Cairo on Monday. 

jugate women. Disagreement, then, is not 
centered so much on the need for popula- 
tion stabilization but on family planning 
and whether it should occur at the indi- 
vidual level or the institutional level. 

Our plan of action is only saying that 
die needs of women should oe addressed 
in consultation with them, not as a pre- 
scription to them and imposed upon 
them. Today, all women do not have the 
possibility to choose their roles — their 
roles are assigned to them to be, in a 
sense, service providers. To enforce the 
reproductive role as the only role in this 
day and age is mind boggling. 

□ 

The Catholic religion does not accept 
modem methods of contraception. In 
other religions there is no one point of 
view. Some Islamic leaders do say that 
family planning is against Islam, but 
most statements from Islamic leaders 
have favored family planning. 

Traditionally, religion plays more of a 
role when it is linked with politics — 
when religious leaders have influence 
with government Look at the United 
States for example: during the Reagan 
administration, religious groups were 
much more vocal and influential than 
today. With President Clinton in office, 
it is a different situation. 

The best-case scenario, then, would be 
full approval of the plan of action munis 
the brackets. That would include an ac- 
ceptance by all of the governments of the 
demntian of sexual and reproductive 
health that comes from the World Health 
Organization. It addresses unsafe abor- 
tion as a public health issue for women 
and should be at issue in every, country 
where these deaths due to unsafe abor- 
tions are occurring. 

We would also like a full agreement on 
family planning services, adolescence 
and reproductive health 

The plan does not legalize or seek legal- 
ization of abortion. Rather it seeks to 
make abortion less necessary through the 
provision of family planning, and to make 
medical services available to women who 
resort to abortion in order to prevent 
health consequences, inducting death. 

Reproductive health means informa- 
tion and education about reproduction, 
pre- and post-natal care, assisted deliver- 


ies, family planning services and co ntrol 
and prevention of HTV/ AIDS and STD 
[sexually transmitted disease]. 

Indeed, if we are to be successf uLtbree 

conditions must exist simultaneously, 
and globally, to help reduce population; 
first, the education and empowerment of 
women — the ability of women to partic- 
ipate in the decisions about family size 
and in the decisions about the shape and 
nature of society; second, the availability 
of family planning services and informa- 
tion; and, three, the confidence of par- 
ents that their children will survive. 
These conditions must occur at the same 
time, to be effective. 

□ 

We will be looking at major increases 
in women in the economic labor force — - 
the national labor forces. Across the 
North and South, women are increasing- 

Bixt things can happen rapidly - 
It might not take decades . 

ly working outside of the home, admit- 
tedly first at the lowest paid jobs. 

In Asia, women are working outside 
the home; they are educated, they be- 
come “breadwinners" and thus gain 
more respect from their husbands and 
families. Gradually and grudgingly, there 
will be more and more recognition of 
women’s work, even within the house- 
hold. Things are now changing. 

Alongside women's entry into the la- 
bor force, consideration should be taken 
that their work not simply be overloaded 
onto them. There should be a changing of 
roles — a balancing of women's roles 
outside of the home with the man’s role 
inside of the home. 

The Nordics are very good examples of 
this. The role of men and women in the 
parenting of children is quite equal there, 
especially in Sweden. Such role equality 
is not happening in the developing world 
to such a great extent. Men are pushed by 
what is expected of them, and they don't 
want to be laughed at by their peers. The 
stereotype there has to change 
□ 

Changing gender roles is threatening. 
Men and women are afraid of how these 
changes are going to affect them. Will 
they really be able to cope with the new 
circumstances? Women are also worried 
about a new role expected of them to be 
independent and fend for themselves. 
Change is always worrisome. 

But things can happen rapidly. It 
might not take decades. If we can identi- 


and engage key people to -make 
then change starts to * 


very quickly. Core interventions—.^ 
include, for example, getting gjns ittto 
school and literacy programs. v 

Different societies live in differe^®s= 
torical times. But Taslima NasrteS * 
particular case. In some 5oaeti«£JSke- 
Bangladesh or Pakistan, one nrart Je 
ir eful in the public realm so as nra-tq; 
generate antagonism that will dentil th*. 
mission totally. One must d«ade!$hat 
one’s objective is. If the olqwtive ifctegft; 
women as quickly as possible m cq&gd . * 
of their lives, you can get to a catsitf J 
level and cany a lot of people withy 
you don’t cross that fine Ime. ' ' g*: - ' 

Up to a point, one's oppo nents c an't- 
really work against the modemhsation 
process. But when you get to thcjtffr 
and the single woman being promScu? 
ou 5 , all that is taboo. Ms. Nasnn crossed, 
the line and gave her opponents ammuhi- . 
tion to attack the whole movement 

□ . ; " .rr-' . • 

Women in fact don’t leave their tint 
dren and walk ouu men do. Women Beep 
their rfiiirirm. Most societies have fefc- 
doned men having multiple sexual rela- 
tionships. Societies don’t frown on a min 
having mistresses, regardless of upholding 
mar riage as sacred. Id my part of ..the 
world ri is considered a great achieftguerit 
to have many women. It is powei£'0yer 
women, and confirms their low sta tu s; 
You ™n have them, you can own ot$oi . . 

So it is the same all over the Wodd;-. 
fathers abandon their families and gooff. 

Feminism is not the cause of the break-; ' 
down of the family; the breakdown of the 
family is due to men having remained in 
their traditional roles. Men have' rkft 
changed. Men must now take responsi- 
bility and change their roles. 

The roles of both genders mi . „ v 
Tbe woman should not be expected -to 
take on double, triple loads; she mustjnqt 
be induced to sacrifice her professional 
career in order to look after the family 

L. nn ... n Lav ink ntnnik Pothpritlff.il 





„ > responsf T _ 

of parenting and the household woril 
If the status quo was such that eyjgfy- 
body was equal and women and men 
were allowed to select their own rife, 
there would be no feminist movement 

Dr. Sadik is an obstetrician from Pbkir 
stan. Her comment here is adapted fronton 
interview conducted by Leila Conners'for 
die Los Angeles Times Syndicate. X: 




Gore Should Look Out for Fierce Opposition at the Cairo Conferen|e 


W ASHINGTON — A1 Gore 
thinks I overestimate the 
chances for confrontation and 
deadlock at the Cairo Conference 
on Population and Development 
I think the vice president under- 
estimates the determination of his 
opponents to fight abortion and 
the goal of “women's empower- 
ment” with no holds barred. 

In a speech that Mr. Gore says 
was intended to respond to my 
recent column (Opinion, Aug. 22} 
discussing the Vatican’s view of 
the Cairo conference, he said crit- 
ics have missed “the remarkable 
consensus” that has developed in 
advance of the Sept. 5-12 mect- 


By Jim Hoagland 


ing, where 170 countries will con- 
sider a 20-year program on popu- 
lation control - - — 

Mr. Gore will lead the U.S. 
delegation to the conference. His 
remarks asserted an area of agree- 
ment on abortion with the Catho- 
lic Church that will be surprising 
if it emerges in Cairo: 

“Just about everyone in every 
corner of the world wishes to make 
abortion rare. That is America’s 
aim; that is the aim of women's 
groups, environmentalists, the 
Catholic Church, leaders of all 
major religions. Indeed, that is 


the aim of all involved in this 
issue, though many of us pursue 
that goal in different ways.” - - 

The vice president went on to 
voice a reasoned defense of the 
“safe, legal and rare” standard on 
abortion that the administration 
will advocate in Cairo: 

“Abortion is not the strategy 
by which the nations of the world 
can or should reduce population 
growth. Wc do not promote abor- 
tion. We abhor and condemn co- 
erced abortions ... The United 
States has not sought, does not 
seek and will not seek to establish 


Americans Debate 'Overconsumption 9 


S IASCQNSET, Massachusetts 
— Americans invented mass 
marketing and we tend to equate 
the robustness of our invention 
with national virtue. Yet we have 
ambivalent about the 


been deeply 
pursuit of 


Our prophets have long railed 
against unabashed consumerism. 

Philosophical ambivalence is 
now being joined by ecological 
misgivings over thl processes and 
products or consumption that 
pollute. The idea of overcon- 
sumption is the result, and the 
idea is being taken up by major 
institutions. 

An immediate spur to action is 
the UN conference on population 
in Cairo next week. Consumption 
by the world’s wealthier countries 
is expected to be a mgjor focus. 

- Consumption is linked to pop- 
ulation by a bit ol elementary 
algebra: population times con- 
sumption per capita equals envi- 
ronmental impact. 

An unwritten compact is in 
place for Cairo. The rich coun- 
tries can talk about overpopula- 
tion as long as the poor countries 
can dwell on overconsumption. 

Organized religion is taking the 
algebra to heart and to its faithful 
As part of a campaign overseen by 
a New York-based ecumenical 
group, the National Religious 
Partnership for the Environment, 
kits are going out to 53,000 congre- 
gations and synagogues. Lengthy 
references to consumption are 
pan of the preachments. 

“Consumption in developed 
nations remains the single great- 
est source of global environmen- 
tal destruction,” says the Roman 
Catholic version, which is partic- 
ularly strong on the subject. 

The Vatican, which is at odds 
with many Cairo participants 
over abortion and homosexuality, 
has supported the conference’s 
inclusion of overconsumption as 
an alternative focus to the theo- 
logically disagreeable idea of 
overpopulation. 

The mterfaith campaign is be- 
ing underwritten by a number of 
foundations, and the foundation 
world is tackling consumption on 
secular fronts as wdL The Envi- 
ronmental Granunakers Associa- 
tion had consumption as the fo- 
cus of its last annual meeting. 

Two of America’s largest foun- 


By Wade Greene 

datious have incorporated the is- 
sue into their programs. The Few 
Charitable Trusts recently added 
“unsustainable consumption of 
resources” to its “global steward- 
ship initiative.” In a rare move for 
any grant-making foundation, it 
financed and put its name on 
newspaper advertisements on pop- 
ulation and consumption. 

The MacArthur Foundation 
added consumption to its popula- 
tion program in July. 

A movement of uncertain di- 
mensions but unquestionable zeal 
is challenging consumption at the 
grass roots. Under the banner 
“America puts its house in order 
... household by household,” 
100 local support groups called 
eco-teams axe methodically help- 
ing members reduce the amount 
and kind of material that flows 
into and out of homes. 

Another, less formally orga- 
nized array of consumption-down- 
sizers nods to environmental fac- 
tors but is marching mainly to a 
different drum — a blend of 
1960s sensitivities and 1990s eco- 
nomic wariness. Its main message 
is that we live much more extrav- 
agantly than we need to and that 
we devote too much time to earn- 
ing the living needed to sustain 
this level of consumption. 

Its principal prophet is Vicki 
Robin, co-author of “Your Mon- 
ey or Your Life,” which has sold a 
quarter-million copies. 

Is there a realistic likelihood 
that a society steeped in advertis- 
ing can alter, let alone reverse, its 
consuming ways? After all, we’re 
talking about what some, perhaps 
most, Americans still equate with 
jiness, if not virtue. 

before the annual 
„ - ie League of Conser- 
vation Voters, Gtiinda Lake, a 
pollster, summarized results of 
recent focus groups and polls. She 
said people were asked whether 
Americans overconsume. “Seven- 
ty-seven percent of Americans 
said, “Yeah, I think Americans 
overconsume,’ 'Do you think wc 
should change that? 'No, it’s one 
of the great things about being 
American.’ ” 

Nonetheless, several .advocates 
of changing consumption pat- 


terns point out that rapid shifts in 
attitudes toward smoking, gun 
control and physical fitness are 
evidence of the possibility of a 
broad shift in public behavior. 

Expanding codes of environ- 
mental correctness may overcome 
conspicuous consumption — the 
formidable obstacle that Thor- 
stein Veblea diagnosed. 

Amory Levins, apostle of re- 
ducing the consumption of basic 
commodities like energy and wa- 
ter by using them more efficient- 
ly, says: “Many green people to- 
day would say that consuming 
stuff to show that you can afford 
to is not only vulgar but immoral" 

If changed patterns on a long- 
term, society-wide basis come 
about, they may have more to do 
with economic determinism than 
personal or political reform. 
Americans probably cannot con- 
tinue consuming at the current 
rate without economically under- 
mining the very basis for sustain- 
ing their consumption levels. 

In recent years these levels 
have gone up while incomes have 
st agna ted or, for most Americans, 
gone down. The gap between 
what people are earning and 
spending is being filled by bor- 
rowing. Americans have the high- 
est rate of consumer debt in the 
world and the highest rate at any 
time in their own history. 

Americans save and invest less 
than any other industrial nation. 
Many economists think there is 
only one way to turn. 

“When the future comes to 
judge us," says Lester Thurow, 
professor of management and 

economics at the Massachusetts 
Institute of Technology, “they’re 
going to judge us based on wheth- 
er we in fact make the transition 
from being a high-consumption 
society to bring a high-invest- 
ment society.” 

By the time the future comes, it 
may be abundantly clear that the 
current challenge to high con- 
sumption is the leading edge of a 
transition, in the form of an old 
serial process called making a vir- 
tue out of necessity. 

Mr. Greene, a writer and adviser 
on philanthropy, is completing a 
study of consumption attitudes and 
practices He contributed this com- 
ment to The New York Times. 


any international right to an 
abortion. That is a red herring.” 

He drew a distinction, howev- 
er, for countries like Russia where 
“contraceptives are not easily and 
widely available, and where the 
average number of abortions a 
woman has in her lifetime is seven 
to right.” In such countries, he 
implied, the immediate need is 
for medically safe abortions. 

Mr. Gore’s Aug. 25 speech at 
the National Press Club was a 
well-crafted, logical exposition of 
how population “stabilization” 
fits into “a comprehensive set of 
strategies” that would “integrate 
economics, environment and de- 
velopment” and palace priority 
on global education, health care 
and the empowerment of women 
and all people.” 

But his high-road search for 
conciliation underestimates the 
fierce opposition that flares along 
a broad front: contraception, fem- 
inism and population-driven envi- 
ronmentalism — not just abortion 
— stir passions withm the church 
hierarchy and among its ideologi- 
cal allies. Where Mr. Gore sees 
virtual consensus in Cairo, his op- 
ponents see red meat 

Mr. Clinton’s foes win seize on 
the Cairo conference to charge 
that his administration is psycho- 
logically a matriarchy that* pro- 
motes feminism and gay rights as 
its primary ideology. For the far 
right in America. Islamic funda- 
mentalists in the Middle East and 
the Vatican hierarchy in Rome, 
the American government has de- 
fected to the female camp in the 
war of the sexes. 

Mr. Gore's em phasis on “wom- 
en's empowerment” as the key to 
making abortions “rare" is not 
likely to ease the confrontation. 
Can he persuade Iran's mullahs 
to endorse the view that abortions 
will become rare only “if women 
rarely feel they are necessary” 
and have the power to decide 
such issues for themselves? 

Mr. Gore seems to thinir that 
his opponents have misunder- 



stood him and will 
patient reason. No one 1 
liberately ignore the vice*presi^ 
dent's disclaimers and gbtiffhK 
tendons, would they? „ 

Mr. Vice President, meoHPat 
Buchanan. The erstwhile I^rnb- 
lican presidential contends de- 
voted his syndicated colunm last 
week to napalming my opinion 
piece that nettled Mr. Gore. * 
Mr. Buchanan was 


ailed 

that I questioned the wisdom of 
the Vatican’s seeking an ideologi- 
cal alliance with Iran and Libya 
on abortion. I should have been 
expressing “revulsion over thd 
causes embraced by Bill and Hib 7 
laiy Clinton” that will be pushed 
in Cairo, he wrote. Those causes 
are “abortion on demand, steal? 
ization, homosexuality.” - 

No matter the Clintons’ and 
Mr. Gore’s specific, repealed do- ■ 
nials. Mr. Buchanan knows better! 

And he sees an America that 
I think most Americans will not 
recognize. It is a dark, depraved 
America that promotes “a heflo? 
caust of Third world children.” j 
H e goes on: “Once America’ 
stood for freedom, liberty and a 
Judeo-Christian moral- order! 
Next month in Cairo, the U.S. 
delegation will offer the world’s 
poor lUDs, suction pumps, con- 
doms and Norplant/’ ; 

Before asserting that America 
has become a country defined by 
“promiscuity, contraception, l.tj 
million abortions a year . . . VDj 
AIDS, soaring divorce rates” and 
other social calamities, Mr. Bur 
chanan asks: “Why should the 
black, brown and yellow peoples 
who look to inherit the Earth fol- 
low the example of self-indulgent 
Westerners who are committing 
racial suicide?’* 

Racial suicide? 

The ayatollahs of Iran could not 
have better expressed such atavis- 
tic contempt for American society. 
Mr. Gore needs to be on guard 
against enemies in Cairo; the Vati- 
can should beware of friends. 

The Washington Post. 


JN OUR PAGES: 100, 75 AND 50 YEARS AGO -i 


1894: Peace Dreamers 

Paris — [The Herald writes in an 
editorial] Everyone is, or pro- 
fesses to be, ardently desirous for 
the maintenance of peace in Eu- 
rope. With some a love of peace is 
not merely a sentiment or an 
opinion, but an apostolate. These 
apostles from time to time hold 
congresses. The baas of resolu- 
tions passed at these congresses is 
always a desire to bring about the 
adoption of treaties of arbitration 
between the Powers of Europe. 
Unfortunately it is to be feared 
that this desire, praiseworthy in 
itself, will long remain in the 
realms of dreams and of philo- 
sophic abstraction. 

1919: Irish Say TVo’ 

WASHINGTON — Denied a 
hearing at the Peace Conference 
in Paris, Ireland had her day in 
court before the Foreign Rela- 


tions Committee of the Senate. 
She used it through Irish- Anneri- 
can spokesmen not merely td 
plead for recognition of her inde- 
pendence, but to urge the flat 
rejection of the entire Treaty as a 

pact menacing the liberties of the 
peoples throughout the world. 
Bourke Cockran said, “This is not 
a league of peace; itisaleaguetb 
prohibit peace. Ail the leagues on 
earth could not keep Ireland sub- 
missive to British rule." - 

1944: Victory This Year 

SUPREME HEADQUAR> 
TERS, Allied Expeditionary 
Force — [From our New York 
edition;] General Dwight D. Ei- 
senhower voiced anew today [An^. 
31] his confidence that victory 
over Germany is possible in 1 944. 
He declared the battle must and 
win be carried decisively into the 
Reich and spoke of utter destruc- 
tion of German military might. ’ 



INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 1, 1994 


Page^ 


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Why Not Cover the Children First? 


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tlTASHINGTON — Winning a 
.;■ jW political battle is better than 
7: wring, but there are also good and 
- tad ways to lose. The key is to lose 
today’s skirmish in a way that sets 
Bp the possibility of victory later. 
■ So it is, alas, with the battle for 
'■ health care reform. 

; , Advocates of sweeping change, 
president, have lost. 


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■ v ’ 

hr 


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*■ ;• 
i 




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hey tost not only in the lobbies and 
«•; (n the counting houses where cam' 
. . ; paign cash is collected They also lost 
•i . . the argument with the voters. Over 
*!'■ , • the past several months, a majority of 
Americans has come to view large- 
• scale health-care reform with more 
Uneasiness than hope. 

! - But that does not mean that noth' 
jug can be done now, or that health 
, „ care reform is a cause doomed forev- 

er to fail. The issue for reformers 
■- now is to win changes in the health 
System that can lay the basis for 
: : further improvements later. At the 

fame time, they must pick some 
, public fights which, even if lost, will 
. t ' jielp shape the debate in their favor 
/ over the next few years. 

’ It is no accident that one of the 
- ^ leading advocates of the long view 

’. bf reform is Senator Harris Wof- 
, ford. This Democrat’s victory in a 
J 99 1 special election in Pennsylva- 
nia helped spark the latest health 
■ “ lare reform effort. One of his signa- 
‘ ; ture campaign appeals asserted that 
|*if c riminals have the right to 
a lawyer, I think working Americans 
Should have the right to a doctor." 

> But there was a catch: It turns out 
to be easier to provide lawyers for 
' criminals than to create a consensus 
on how to bring health care to every- 
body. Mr. Wofford's view now is 
that health reformers are in a posi- 
tion similar to that of civil rights 
Advocates in the late 1950s. In 
a memo to his colleagues, he argued 
that the movement was right to ac- 
cept the weak Gvil Rights Act of 
,1957 as a first step. “From his perch 
as Senate majority leader" Mr. Wof- 
ford wrote, “Lyndon Johnson argued 
that if we got that first bill through, 
(there would be pressure and expecta- 
tion on every Congress thereafter to 
Stake further steps until the goals were 
reached" The key on health care 
Would be to accomplish some good 
things and thereby buQd public con- 
fidence that government-led health 
reform is a practical undertaking. 

__ \ The most logical place for incre- 

~~ men tali sts to start is to offer health 

coverage for every child in America 
— call the revised program Kidcare. 

Estimates of the number of unin- 
sured Americans under IS range 
from 8 million to 12 million. Cover- 
age of virtually all children could 
be accomplished at relatively mod- 
est cost through a combination of 
subsidies and requirements that 


By E. J. Dionne Jr. 

employer-paid policies cover chil- 
dren. It is cheaper to cover children 
than anyone else, since children get 
sick less than older folks. The argu- 
ment for kids is hard to resist: if the 
country can cover all of the elderly, 
ought it not do the same for chil- 
dren? 1 can’t think of a single 
grandmother who wants her grand- 
child to go without health care. 

1116 bill proposed by Senate Ma- 
jority Leader George Mitchell and 
the “mainstream" plan being 
pushed by Senators John Chafee 
and John Breaux already tilt in favor 
of covering children and pregnant 
women. That tilt could be strength- 
ened. At the same time, both Mr. 
Chafee and Mr. Mitchell can keep 
looking for money to phase in subsi- 
dies for entire families among the 
working poor and the lower middle 
c la ss , where most of the uncovered 
children are found. 

The senators who are trying to 
salvage health reform have other 
possible planks for a successful in- 
cremental plan. One might involve 
opening up the Federal Employees 
Health Benefits Program to small 
businesses so they could take advan- 
tage of the lower prices provided by 
the plan’s enormous purchasing 
power. Another is to give health care 
tax breaks to some of the self-em- 
ployed, which would be particularly 
helpful to fanners and might win 
favor from key farm state moderates 
such as Senator Nancy Kassebaum, 
Republican of Kansas. Since so 
much of the financing for health 
care reform will come from cuts in 
Medicare, the elderly might be 
brought on board with the begin- 
nings of a community and home- 
based long-term care program. 

At the same time, advocates of 
reform should force a vote on em- 
ployer mandates even if they are 
going to lose iL The proposal might 
involve a requirement that employ- 
ers pay 72 percent of the costs of 
their employees' health insurance, 
which just happens to match the 
share that taxpayers pick up for 
members of Congress. The only way 
to push this debate forward is to 
force those who want to kill the 
mandate to kill it outright and then 
defend their position at election 
time. Supporters of a mandate could 
make it an issue and give voters a 
chance to join the debate. 

Some of President Bill Clinton's 
aides are inclined to kill incremental 
efforts before they bear fruit, on the 
theory that the president should not 
face the embarrassment of reneging 
on his threat to veto any bill that 
provided less than universal cover- 
age. But there is a shocking. Machia- 


vellian strategy available to the pres- 
ident on this matter: He could 
simply tell the truth. 

The truth is that in January, he 
thought the choice at the end would 
come down to full coverage or 
piecemeal reform and he wanted to 
do everything he could to create 
pressure for a universal program. 
That calculation turned out to be 
wrong. He could then argue that if 
the cost of extending health cover- 
age to American’s children and im- 
proving it for others is to face end- 
less reruns of his waving that veto 
pen, so be it. 

What Mr. Clinton should not do 
is look for lawyerly technicalities to 
get around the fact that he was 
forced by defeat to change his ap- 
proach. By being up-front and un- 
bowed, he can then declare credi- 
bly, remembering Lyndon 
Johnson, that this fight isn't over. 

The Washington Post. 



Safe for the Lawn Mower 
But Not for the Neighbor 


By Richard Manning 


In Defense of Clinton’s Decision-Making 


W ASHINGTON — The essence 
of good decision making is 
always the same, whether it is done 
by a Wall Street trader, a chief 
executive officer or the president of 
the United Slates. 

The process starts with a well- 
grounded sense of strategy and 
principles. Then, for each issue, all 
relevant considerations need to be 
aggressively sought out and 
weighed dispassionately. Finally, 
the decision maker need's to make a 
choice that best serves the underly- 
ing purposes, however Lough or dis- 
tasteful the trade-offs, and then 
make a full-fledged commitment to 
cany out Lhat choice. 

By these standards, Bill Clinton is 
as good a decision maker as any- 
body I have seen in my 28-year ca- 
reer, first on Wall Street and then 
here in the White House. 

At a meeting in Little Rock, .Ar- 
kansas, during the transition, the 
president-elect told a group of us. 
“If people don’t tell me what they 
think, 1*11 be dead." He wants to see 
all sides of an issue and he insists on 
candor from his staff, sometimes to 
the point of eliciting disagreement 
with his own views to mak e sure 
nothing is missed. 

Outsiders will often express 
strong convictions outside the Oval 
Office and then pull their punches 
with the president, even Lhough he 
tends to draw them out effectively. 
But the people around him have no 
such compunction, much to the ben- 
efit of the decision-making process. 

Last year the president's political 
advisers warned that if he went ahead 
with a major cut being proposed for 


By Robert E. Rubin 

77ie? writer, a former co-chairman 
of Goldman, Sachs <£■ Company, 
is assistant to President Clinton 
for economic policy. 

the deficit-reduction program, be 
could create serious political prob- 
lems. It was a pivotal moment in my 
understanding of the president He 
thought about it for a while and then 
said, “But we're just going to have to 
take these kinds of political hits if 
we’re going io get this deficit down." 

And he continues to follow that 
pattern. Sometimes the political 
costs are considerable. 

The president, for example, has 
received criticism — unwarranted, 
in ray view — for some decisions (a 
gasoline tax in the deficit- reduction 
program, the Cuban refugee policy). 

Sometimes he is rightly credited 
for sticking to his guns despite ex- 
cruciating pressure to compromise 
(the victories on deficit reduction. 
NAFTA and the crime bill). 

The point is that he never fails to 
follow the deliberative process, ex- 
plore all the options and then make 
the tough decisions that further his 


policy views despite the availability 
of easier political paths. 

What isjarring is that it is precisely 
the repeated stories of this kind of 
decision making that have been used 
to criticize the president. The media 
seem to prefer something that has the 
appearance of gut derisions made by 
a knight on a white horse, rather than 
thoughtful, thorough evaluation with 
strong advisers. If we want a careful, 
deli boat! ve process in the designing 
of products lo test-market in the pri- 
vate sector, shouldn't we also encour- 
age and even insist on lhat same delib- 
erative process for the most pressing 
issues in the life of the nation? 

There is also a tendency’ to criti- 
cize when Lhe president opts for the 
achievable good over unachievable 
perfection. But once again, we de- 
mand that other major decision 
makers — and certainly chief execu- 
tive officers — be guided not by 
quixotic judgments but by a keen 
sense of the art of the possible. 

In time, 1 expect that Bill Clin- 
ton’s decision-making style will be 
seen as a hallmark of his presidency 
and a model for future presidents 
and all public processes. 

The New York Times. 


A MERICAN democracy isn't working well these days. Things that should 
. be easy, like the crime bill, are nearly impossible. Even moderate reform 
of the health care system may be more than Congress can accomplish- 
A president committed to change is confronted by political institutions — 
the House of Representatives and the Senate — wed by ties of money and 
politics lo the status quo. Wbal is striking is noL that the president is having 
trouble on Capitol Hill, but that he manages to get anything through. 

Getting legislation passed would be easier, of course, if Bill Clinton were 
more popular. But one important reason the president is not more popular is 
because he is trying to change America. 

— Susan Esirich. commenting in the Los Angeles Times. 


L OLO, Montana — On a recent 
* morning, a sound alien to the 
forest gulch that holds my home told 
much about the American attitude 
toward wildfire. Most of the nation, 
suburban as it is, has come to accept 
this sound, the din of the lawn mow- 
er. But here in the mountains it is 
still a vexing incongruity, especially 
in these last few weeks,” 

Some of us chose to live in the 
woods almost as visitors. We slipped 
our houses among the trees and let it 
go at that, but our houses granted 
others license Lhe way the first stroke 

MEANWHILE 

of graf fi ti opens the way for the decay 
of an urban neighborhood. 

Soon enough, the fleeing subur- 
banites arrived, bringing suburbia 
with them: exotic trees and shrubs, 
underground sprinkler systems and 
the insult of manicured bluegrass 
lawns in what had been native bunch- 
grass habitat for mule deer and elk. 

That morning, their lawn mowers 
thrummed against a background of 
smoke from forest fires in Montana. 
Idaho, Oregon and Washington. So 
widespread are the fires now that 
it is no longer possible lo pinpoint 
the source. We just know that the 
smoke comes every day. 

This is a matter of some concern to 
my neighbors, lawn-keeper and rustic 
alike. Each Lime we hear the drone of 
a bomber we wonder whether our 
turn has come. The West is burning 
this summer, and we need no head- 
lines to tell us this. We read it and 
smell it in the smoke, hear the news 
broadcast by the snap of tinder-dry 
grass and timber around our houses. 
We see it nightly in the smoke-in- 
duced red of the moon. 

Some of us who built our houses 
in this forest accepted fire as a fact 
of life here and built accordingly, 
steel roofs and thinned trees. Lhat 
sort of thing. Fire will come, and 
when it does, it will scare us witless, 
but chances are good these houses 
will survive. 

Others of us — increasingly, 
more of us — did not accept or 
anticipate fire. These people came 
from places where the fire depart- 
ment and insurance companies 
promised one’s safety. 

That morning, against the back- 
drop of smoke, the lawn mowers 
also played to a pocket of silence. 
Two doors up the gulch from my 
house, a yard lay vacant and quiet, 
not even a sign of the owner, be- 
cause he died recently. 


Bob Buc was a pilot of one of 
those lumbering bombers that drop 
loads of red retardant into the forest 
fires. On Aug. 13, his C-130 Hercu- 
les tanker exploded in the Angeles 
National Forest in California. 

Earlier this summer, I planned 
a backpacking trip into the raoun-- 
tains. but friends said it would be 
unsafe because of the fires. J 
thought about this and remem- 
bered lhat there ore still places that 
are perfectly safe. 

On lhat trip, 1 went to an area- 
called the Great Burn, a stretch of 
wilderness in Idaho and Montana 
swept by the fire in 1910. It remains, 
a country of open ridges and mead- 
ows, still fire-resistant 84 years later. 

This weekend. I will start another 
trip, a 10-day walk in an area called 
Canyon Creek, where a 250.000-acre 
( 1 00,000-heciare) fire burned in 1 988. 
No chance of that burning now. 

There is a way to fight Tire, and it 
is with fire. Increasingly, though, 
that option is being removed. Fire 
fighters tell me their business has 
changed greatly in the last 10 years. 
They no longer face forest fires. 
They protect houses. 

We Westerners and. even more so. 
newcomers to the West are moving 
to the woods. Once there, we expect 
our government to keep us safe and 
to keep our hillsides serene and ; 
green. Never mind lhat the West has ‘ 
never been safe or serene. We’ve - 
decided we'll have it that way now. j 

A century’s worth of fire sup- • 
press ion has left the region's forests , 
choked with dead trees, and we face - 
a drought lhat is a part of our arid , 
West. The landscape wants nothing 
so much as to burn now. 

But we of the split-level cedar- 
sbaded homes have the votes, and 
we want safety. We do not care that 
at last count. Bob Buc was only one ' 
of 23 people who have died fighting 
fires this summer. 

They die to make valleys like 
mine safe for lawn mowers. 


The writer's third book about the 
environment of the West will be pub- 
lished next year. He contributed this 
comment to The New York Times. 


Letters intended for publication 
should be addressed “ Letters to the 
Editor” and contain the writer's sig- 
nature. name and full address. Let- 
ters shadd be brief and are subject to 
editing. We cannot be responsible for 
the return cf unsolicited manuscripts. 


LETTERS TO THE EDITOR 


1,1 


V 


IS- 


On Somalia, Butros Ghali Took a Very Early Lead World Population 

: 6 With the passing of the arms race, the 

In response to the report " Ex-UN Offi- another conference in March of the same 
cial Blames Butros Ghali for Failure in 
Somalia" (Aug. 30): 

. It should be recalled that it was the 
United Nations secretary -general. Butros 
Butros Ghali, who took a very early lead in 
persistently drawing attention to the trage- 
dy of Somalia. Barely a few weeks after 
taking office, he urged the international 
community in public and in private lo 
come to the aid of Somalia. 

- When I arrived in Mogadishu on Nov. 

8, 1992, to take over the United Nations 
Operation in Somalia (Unosom I). I 
found the operation in a shambles. Five 
hundred Pakistani troops had arrived two 
months before in order to secure the air- 
port and the seaport and to escort the 
distribution of humanitarian aid. Instead, 
they had been completely idle on the 
beach and prevented from deployment. 

The airport of Mogadishu had been 
closed lo all traffic for over two months. 

Due to banditry and obstacles at every 
turn, only a fraction of the humanitarian 
aid so generously donated by the interna- 
tional community was reaching the peo- 
ple for whom it was intended. No politi- 
cal reconciliation meeting was in sight. 

When I reported these dismal condi- 
tions to the secretary-general, he did not 
hesitate to inform the Security Council 
and urge it to take strong action to reme- 
dy the situation. Among the five options 
presented by the secretary-general, the 
Security Council chose to set up the Unit- 
ed Task Force (Unitaf) under U.S. com- 
mand and control. 

. When I left Somalia in March 1 993 lo 
be replaced by Admiral Jonathan Howe, 
the backbone of the famine had been 
broken due to close cooperation between 
Unosom I and Unitaf in the distribution 

of humanitarian aid. 

Also, as early as Jan. 4. 1993. the first 
political reconciliation conference was 
held under lhe auspices of lhe secretary- 
general, who personally opened the meet- 
inc in Addis Ababa. More than 14 fac- 


V! 


lions agreed to disarm and to hold 


year. Far-reaching decisions on political 
reconciliation and the setting up of an 
interim government within two years 
were decided upon at that conference. 

As for lost opportunities, the secretary- 
general insisted in public and private from 
the outset of the Unitaf operation that the 
disarming of the waning factions in Soma- 
lia was a prerequisite for creating a secure 
environment for rehabilitation, recon- 
struction and reconciliation in Somalia. A 
swift, effective disarming of the warring 
factions by Unitaf, which had the means 
and the mandate to do so, would undoubt- 
edly have paved the way for an early 
achievement of the above goals. 

1 am sure that this view is shared by 
many members of the Security Council. 

In my entire experience in Somalia, 
I encountered no friction either with the 
secretary-general or with his senior aides 
dealing with the operation. On the con- 
trary, I could invariably count on his and 
their support and encouragement in a very 
difficult and delicate situation. 

The secretary-general's unfailing sup- 
port for his personal representatives and 
special envoys is a well-known fact It is 
true that he is a demanding secretary- 
general; he demands from his colleagues 
the same high standard of dedication and 
discipline that he devotes to his job. 

Finally, my own experience confirms 
that there was absolutely no intention, 
either in Mogadishu or New York, to take 
sides in the conflicL in Somalia. Indeed, we 
all worked on the basis that an absolute 
position of neutrality was essential for the 
United Nations operation to help the So- 
malis. At every turn, the Somali factions 
were reminded that it was up to them to put 
their country’ back together. The United 
Nations and the international community 
could only assist them in that endeavor. 

ISMAT KJTTAN1. 

New York. 

The writer succeeded Mohammed Sah- 
noun as special representative of the UN 
secretary-general in Somalia. 


*15 


fairness at Vassar 

As women scientists at Vassar. we w ere 
deeply disturbed ihai Judge Constance 
Baker Motley’s recenl decision in the mat- 
ter of Fisher v. Vassar From Politics, 
July 2) presents a distorted picture of our 
college and die lives of Vassar s women 
scientists. In her decision. Judge Motley 
concludes lhat Vassar discriminates 
against married women in the so-caiiea 
hard sciences bv holding a mamed woman 
-10 a higher standard ol achievement lhan 
men or single women when considering 
Ihem for promotion or tenure. 

All of us are icnurcd senior faculty at 
Vassar in the sciences. All of us arc mar- 
ned women, with small children. In ou 
experiences Vassar and discrimination .are 
two words that do not belong together. 

, To the contrary, lhe college has policies 
and practices enabling faculty «o ; Ptw«J 
successful professional careers while Ijadms 
full family- lives. These rncluue maternity 


and parental leave, subsidized child care on 
and off campus, and the option of extend- 
ing the lime to prepare for the tenure review 
so as to accommodate family obligations. 

At lhe same lime, Vassar has also insisted 
upon the highest standards for promotion 
and tenure for all its faculty, regardless of 
gender or marital status — a policy we 
deeply support. We have never wanted to be 
evaluated by a different set of standards. 

MARIANNE BEGEMANN, 

.Associate Professor of Chemistry. 

DEBRA ELMEGRHEN, 
Chair, Department of 
Physics and Astronomy. 
CINDY SCHWARZ. , 
.Associate Professor of Physics. 

NANO' IDE, 
Chair. Department of 
Computer Science. 

Vassar College. 

Poughkeepsie, New York. 


most critical and crucial problem facing all 
nations on earth is the ongoing global 
population explosion, ft is inextricably 
linked with the global problems of devel- 
opment, environment, depletion of nonre- 
newable resources, health care, women's 
emancipation and more. 

World population — about 4.5 billion a 
decade ago — has now passed the 5.5 billion 
mark. Rapid population growth again and 
again defeats development efforts. 

It is precisely these crucial problems 
that will be addressed next week in Cairo 
at the United Nations International Con- 
ference on Population and Development, 
on which, unlike the Reagan and Bush 
administrations and despite present Vatican 
efforts to scuttle the work of the conference, 
the Clinton administradon has taken a com- 
mendably strong and positive stand. 

CHARLES DICKINSON. 

Paris. 

It is high lime for a rational approach 
to population planning. The more infor- 
mation people have, the better decisions 
they will make. The Cairo conference is 
an effort to gather and disseminate infor- 
mation. Efforts to prevent the attendees 
from discussing certain topics show arro- 
gance and are reprehensible. 

JOHN SCHEL'R. 

Taipei. 

It is not a lack of food, it is a lack of 
compassion and love that is our problem. 
Pope John Paul II has said. Is he all wrong? 

GUNN AR ADLER-KLARLSSON. 

Anacapri. Italy. J 

As a Mass-going Roman Catholic, I ob- 
ject to the appellation “the church" in cov- 1 
erage of the Vatican’s stand on the upcom- | 
ing Cairo conference. The church is i 
everybody in it. Millions of Catholics qui- ! 
etly practice birth control. Obviously, the . 
Vatican is not speaking for them. 

EDMUND NAUGHTON. 

Paris. 

A Country at the Crossroads > 

In response to "An Islamic Struggle for \ 
Saudi Arabia's Soul" (Aug. 23 1 : 

The real struggle is the private ques- 1 
tioning among Saudis themselves on how 
much and what kind of change their na- 
tion can endure without jeopardizing the 
tremendous gains achieved in less than 
a generation: material prosperity, mod- 
ernization. full health care, social welfare, 
preservation of traditional values and 1 
public safety. 

Saudi Arabia's problems are benign | 
when compared with those of other eoun- • 
tries, including America. Saudi Arabia is ) 
approaching the crossroads where its 
leaders and people will have to make i 
irrevocable decisions defining its future. 
.All who wish the Saudi people well and j 
who desire to protect diverse internation- j 
ai security interests there should give the ! 
Saudis, leadership and people, the time j 
and space to make their own decisions, i 
JOHN S. HABIB. 

Brussels. 


NEWS EVENTS WHICH COULD AFFECT 
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Hunting the Hunter of Mid-Sea: The Elusive Squid 



By William J. Broad 

New York Timer Semrr 




EW YORK — Squids, some 
of the smartest and most elu- 
sive of the sea's creatures, are 
beginning to give up their be- 
havioral secrets as submarines and ro- 
bots observe their unique ways of 
hunting, hiding and just hanging out in 
deep, cold waters where darkness 
reigns or only dim rays of sunlight can 
penetrate. 

Little by little, tribal secrets from 
the earliest days of squid existence are 
being surrendered for the first time. 

Previously seen as primitive and le- 
thargic, deep-sea squids turn out to 
show surprising alertness and alacrity. 
Most boast a range of bioluminescence 
and subtle coloration that can change 
quickly, often to elude predators and 
perhaps to attract mates as well. 

Long tentacles, once seen mostly as 
grippers, also turn out to work as fish- 
ing lines and lures. A squid's arm will 
hold a thin tentacle, letting it run over 
the arm's tip and dangle far below its 


body. Some species then flash a light at 
the tentacle's end to attract prey, grab- 
bing hold of the next meal with the 
tentacle's suckers. 

Squids have been thought of as crea- 
tures of the ocean's middle levels, al- 
ways jeuing about or floating in a state 
of neutral buoyancy. But it turns out 
that some species take breaks on the 
bottom, resting their arms in such a 
way (“on their elbows,’’ an expert 
jokes) that tubes for breathing and 
propulsion stay clear of obstructing 
mud. 

In some cases scientists are learning 
whole sequences of maneuvers for es- 
caping predators. Squirts of ink. it 
turns out, can do much more than 


dark waters with an unmanned robot, 
seeking to film the behemoth in its lair. 


to see some patterns. What's happen- 


blind a pursuer. 

Even the giant squid, the largest and 
most legendary of the race, reaching 
lengths of 70 feet (20 meters), is bang 
tracked more closely than in the past. 
Still, scientists have yet to snare the 
creature, while fishermen sometimes 
do so by accident. 

A scientific expedition off the Cali- 
fornia coast is trying to track one of 
the giants down, churning through 


“The curtain's going up," said Dr. 
Gyde F. E. Roper, curator of mollusks 
and a squid expert at the National 
Museum of Natural History at the 
Smithsonian Institution in Washing- 
ton. “In the last 10 years we've really 
come a very long way In understanding 
the behavior of a lot of these animals. 
We’re finding tremendous diversity.’' 

Video images of rare, deep-water 
squids taken by camera-toting robots 
and submersibles are becoming so 
common that Dr. Roper and Dr. Mi- 
chael Vecchione; a squid expert at the 
National Marine Fisheries Service of 
the National Oceanic and Atmospher- 
ic Administration in Washington, are 


mg is very exciting. 


uids are cephalopoda, close cous- 
ins of octopuses and cuttlefish and 
distant relauons of dams and oysters. 
Their elongate bodies have rear fins. 
Their large eyes rival human ones in 
complexity. 

Of their 10 arms, eight are short and 
meaty and two, referred to as tentacles, 
are usually much longer and thinner. 
The ends of tentacles are often ex- 
panded and covered with numerous 


organs,” wrote Carl Chun, a tura-of- 
the-century squid expert who was 


awed by a particular find. “One would 
i body was adorned with a 



suckers. Squids range in length from 
i to the 


less than an inch to the 70 or so feet of 
the giant, and perhaps longer. 


putting them together in a computer- 
e that 


ized database that covers scores of 
species. Among other things, analysis 
of this image bank is revealing a host 
of previously hidden behaviors. 

“There’s much we don't know,” Dr. 
Vecchione said. “But we're starting to 
reach a critical mass. Enough dives 
have been made so that we're starting 


S QUIDS that roam the sea's 
surface have been studied 
since the time of the ancient 
Greeks, but their deep-sea rel- 
atives for the most pan have remained 
a riddle. Hints of behavioral richness 
came as the first catches from the deep 
revealed that some squid bodies were 
bedecked with arrays of bioluraines- 
cent lights. 

“Nothing can be even distantly 
compared with the hues of these light 


think the 

diadem of brilliant gems.' 

Early discoveries were limited be- 
cause of the available tools, mostly 
nets and trawls. These missed much 
life. 

But the advent of deep-diving ro- 
bots and manned submersibles has 
changed all that. While such vehicles 
were first used to study the bottom, in 
the past decade or so they have in- 
creasingly examined the riot of life in 
the sea’s middle waters. 

“We've found them doing all kinds 
of things we thought they couldn’t do,” 
said Dr. Roper. 

Dr. Vecchione of the National Ma- 
rine Fisheries Service, said the new 
undersea perspective was rewriting the 
books on squid distribution and abun- 
dance in addition to behavior. 

“There was ooe species we thought 
was rare because we could never catch 
it by net,” he said. “But we went down 
and it’s everywhere. It's as common as 
cattle when you go down in a sub.” 


r. 





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Dnmuy SdadJonfcy/The New Yort Tati 


Tracking a Gene 


For Femaleness 


By Natalie Angier 

New York Tima Service 




EW YORK — What- 
ever their political 
leanings, and no mat- 
ter how earnest their 
earlier insistence that they will 
be delighted either way, the first 
thing new parents want to know 
when the baby debuts is, boy or 
girl? And most of the time, the 
doctor can confidently and joy- 
fully boom out the verdict. 
Every so often, however, the 


though it has a penis but there is 
little or no scrotum to be found, 
leading those in the delivery 
room to wonder whether they 
are seeing a boy with unde- 
scended testes or a girl with a 
greatly enlarged clitoris. 

Or it may later turn out that a 
newborn with the external geni- 
tals of a boy has a female's 
ovaries inside. 



Denmark’s Designer Data 


By Daniel Goleman 

New York Tima Service 


R IISKOV, Denmark — 
Denmark, known for 
its superbly crafted 
furniture, stereo sys- 
tems and silverware, also ofFers 
state-of-the-art psychiatric epi- 
demiology. 


lamp., liart* 

Dr. Giovaruia Camerino was a chief researcher in the identification of a new gene. 


their child should be surgically 


As many as one in 1,000 ba- 
bies are bom with some sort of 

gender ambiguity, throwing Lhe modified and how, exactly^ they 
.... parents into an emotional mad- should regard their androgy- 

answer is not immediately obvi- strom and forcing them to con- nous offspring, 
ous. The infant may look as front decisions like whether Yet for all the private dis- 


ly, the gene's activity is power- 


Don’t miss the upcoming 
Special Report on 


Aviation 


in the September 5th 
issue of the newspaper. 


INTERNATIONAL 


tress, these variants on nature’s 
binary program also have given 
researchers powerful insights 
into the complex genetic and 
hormonal determinants that 
underlie a bab/s sex. 

And every lime researchers 
think they have the basic mech- 
anisms mapped out, a new find- 
ing comes along that overturns 
their pet paradigms and 
prompts them to think again 
about what little boys and girls 
are made of. 

In the journal Nature Genet- 
ics, researchers from Italy and 
Texas have announced the de- 
tection of a gene that can dis- 
rupt the normal development of 
male genitals in infants who 
look for all the world as if they 
were destined to be boys. The 
action of the gene somehow re- 
verses the sex of the fetus, turn- 
ing nondescript gonadal buds 
that might otherwise become 
testes and a penis into a vagina 
and ovaries. 

The gene sits on the X chro- 
mosome, the partner chromo- 
some to the one that in males is 
the throne of their masculinity, 
the Y chromosome. Important- 


On October 31st, the IHT will publish a Special Report on 


Private Banking 


Among the topics to be covered are: 


The contrasting management style of private bankers 
in Europe and America. 


The boom of private banking in California. 
Asia — the promised land for private bankers. 
Specialized services aimed at retirees. 


The growth of real estate services for private 
banking clients. 


For further information, 
nfease contact Bdt Mahder in Paris 
at (33-1)46 37 93 78, fax (33-1) 46 37 50 44. 


<i INTKRNATIUNAI. M ** 

licral un c 


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enough to override the influ- 
ence of the most famous 
constituent of the Y chromo- 
some. the gene for maleness, 
called SRY. 

The new work contradicts 
one of the verities of the sex 
determination field — that the 
default mode of a fetus is fe- 
male, and that it takes the addi- 
tion of the maleness gene to 
transform the primal female 
into a boy. 

By this notion, the building 
of a female is a passive business, 
one that will occur in the ab- 
sence of any particular signal, 
while putting together a boy de- 
mands the input of the SRY. 

In the latest report, however, 
a group of four patients found 
to have a working SRY gene 
nonetheless exhibited varying 
degrees of feminization, an 
event that should not happen if 
the maleness gene were the 
dominant determinant of gen- 
der. Three of the four displayed 
patently feminine external geni- 
tals, while the fourth had am- 
biguous genitals. All had been 
raised as girls. 

Examining the patients' 
DNA. the scientists learned a 
tiny patch of the genetic materi- 
al on the X chromosome had 
been duplicated. That doubling 
of the chromosomal region gave 
them a double dose of a gene 
the scientists call DSS, for dos- 
age-sensitive sex reversal. 
Somehow, two copies of the 
DSS gene can feminize an oth- 
erwise chromosomally male fe- 
tus. 

“This is certainly a surprise 
to many of us working in the 
field,” said Dr. Edward R. . 
McCabe, a professor of pediat- 
rics and molecular genetics at 
the Baylor College of Medicine 
in Houston. “The system of sex 
determination is turning out to 


be a lot more complicated than 
I was taught in medial school.” 
Dr. McCabe is one of the au- 
thors of the report The princi- 
pal investigator of the work is 
Dr. Giovanna Camexino of the 
University of Pavia in Italy. 

The findings suggest that 
there may be genes for female- 
ness just as there are genes for 
maleness. These genes very like- 
ly help push the fetal gonads — 
which have the potential to be- 
come either ovaries or testes — 
in the ovarian direction. Thus, 
an extra dose of the gene in 
males would undo the best ef- 
forts of the SRY factor to start 
constructing testicles. 

“I don't think there’s any 
question that the development 
of the ovaries will prove to be 
an extremely active process, re- 
quiring the contributions of 


Denmark's unparalleled com- 
bination of a universal social 
welfare system and meticulous 
record keeping has made the 
country a world laboratory for 
teasing out subtle patterns in 
psychiatric data, particularly for 
severe disorders like schizophre- 
nia, that can only be detected in 
studies of thousands of people. 


One of the more alarming re- 
cent findings to emerge is that 
suicide rates among patients 
with schizophrenia have dou- 
bled as psychiatric hospitals in 
Denmark have cut back the 
number of days they are al- 
lowed to stay for treatment 

The finding had eluded other 
researchers, because detecting it 
required studying both death re- 


cords and psychiatric records for 
umber of 


a vast number of patients, an 
endeavor far more difficult in 
countries like the United States, 
where schizophrenics' hospital 
stays have also been cut back 


many genes and proteins,” said 
'. David Page, who studies the 


Dr. 


genetics of sex determination at 
the Whitehead Institute. 
“We’ve only just begun to un- 
derstand the details of sex de- 
termination.” 


“We Danes are very good 
bookkeepers, so we have some- 
thing you don’t find anywhere 
else in the world: We can follow 
large numbers of people for a 
veiy long time with great preci- 
sion,” observed Dr. Preben Bo 
Mortensen, a psychiatrist. 


As senior researcher in the 
department of psychiatric de- 
mography at Denmark’s Insti- 
tute of Basic Psychiatric Re- 
search, Dr. Mortensen is at the 
center of a web of more than 50 
international research projects, 
all drawing on Danish records. 

Scientists from around the 
world travel tojoin Dr. Morten- 
sen and his colleagues at the 
psychiatric hospital that houses 
their institute, in Riiskov, a sub- 
urb of Aarhus. 

The Danish research is possi- 
ble because since .1966 a regis- 
tration number has been used 
by eveiy man, woman and child 
in Denmark for a vast range of 
activities, from entering a psy- 
chiatric hospital to getting a job 
to banking transactions. In ad- 
dition, virtually all medical care 
in Denmark is provided by the 
government; there are no pri- 
vate hospitals. 

“The Danes have a tremen- 
dously valuable system of regis- 
tries," said Dr. David Shore, 
chief of the Schizophrenia Re- 
search Branch at the National 
Institute of Mental Health in 
Bethesda, Maryland. “There’s 
nothing comparable in this 
country." 

Dr. William Eaton, a psychi- 
atric epidemiologist at Johns 
Hopkins University, who is col- 
laborating on research with 
Danish scientists, said. “Den- 
mark is the world’s best place to 
work on the epidemiology of 
severe psychiatric disorders like 
schizophrenia." 

Research that would be inor- 
dinately tedious or simply im- 
possible elsewhere is remarkably 


easy there. One 30-year study, 
for example, followed more than 
6,000 patients treated for schizo- 
phrenia and lost track of just 10 
people over three decades. 


pi Li J ** >■ 
T iTjfVi j* 


M*-—' 
J-'-'** ’ 


By looking at huge numbers 
of people, the Danish research- ▼*- 
ers can detea subtle trends that J, 
would be missed brother meth- 
ods, or confirm hypotheses sug- ~ 
gested by research with smaller — 
groups. 


i ■* 


li-M. 




>*■ -■* 




In the study of schizophrenia 
riride. Dr. 


and suicide. Dr. Mortensen was 
able to ' draw on computerized 
records to track all 9,156 pa- 
tients admitted to DanisHtospi- 
tals for a first episode of-schizb- 
phrenia from 1970 to 19*8' and 
then to comb through a national 
registry of causes of death, look- 
ing for patients from the study. 

I N Denmark, as in the Unit- 
ed States, economics and 
changes in treatment phi- 
losophy have Jed to a reduc- 
tion of the average length of time 
people are kept in psychiatric 
hospitals. The average stay was 
about 50 days in the 1970s, add 
dropped to 30 days by the mid- 
1980s as part of a shut toward 
treating patients in the commu- 
nity. 


-*~*4 


^NATIONAL MAUI 


f Sinking of 1 


A'nl 




i 




i 


In findings he reported last ^ 
year in The British Journal of 
Psychiatry, Dr. Mortensen dis- c; 

covered that during the first \- 

year after patients in the late ^ 

1980s were released from the ft \ 
hospital, the rate of suicide -1 

among them was 56 percent J. 

higher than for patients treated 
in the early 1970s, when hospi- ^ 
tal stays were longer. 


- 

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pf 

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•—» ■ 


IN BRIEF 


^ Words Wi 


‘Olympic’ Molecule: 
Clue to Life’s Origin? 

NEW YORK (NYT) —Cap- 
ping a decade of intense re- 
search, a team of British chem- 
ists has created a molecule 
consisting of five interlocked 
rings of atoms, a tiny replica of 
the symbol of the Olympic 
Games. The molecule is proba- 
bly useless in itself, but the 
techniques devised to create it 
may shed light on the process 
by which life arose from rela- 
tively simple chemicals. 

The synthesis of this new 
molecule, technically called a 


linear pentacatenane and famil- 
iarly named “olympiadane," 
was hailed by chemists as an 
important step toward under- 
standing how components of a 
complex molecule can sponta- 
neously join together. 

An ability to assemble them- 
selves from simple precursors is 
one of the requisites of probiot- 
ic molecules — the nonliving 
building blocks from which the 
proteins, genetic codes and cel- 
lular complexity of living or- 
ganisms arise. 

The achievement was an- 
nounced in the German journal 
Angewandte Chemie ( Ex peri - 









»».,■ * • : 


*■ - 


' * <i 

Sb 

■ '■*-**( 

a- * 


71* No* V «fc Time 


menial ^Chemistry) by Dr. J. 
^ ’ Dr. David 


No One C over? tlic New I n rope I.iL’C’... 


EUROPE 


M 


GAZIN 


Subscribe to EUROPE, the only magazine that covers timely and important business, 
economic, and political events not only in the European Union but throughout Europe. 
From Paris to Moscow, from politics to travel, EUROPE gives you the information you 
need to stay on top of the news. No one covers the New Europe like EUROPE. 


i Return this coupon to EUROPE. P.0. Box 55935. Boulder, CO 80322-5935 

[ Q S19.95 for one year (10 issues}. Q $34.95 for two years (20 Issues). 

« Add $10.00 to non-U. 5. subscriptions fo r postage and Handling. 


Name— 


i 


a Address.. 
} City 


State.. 


Zip.. 




payment enclosed [2] P*ease dill me. 5HT4 


Fraser Stoddart and 

Amahilino and their colleagues 
at the University of Birming- 
ham in England. 

The creation of olympia- 
dane was a tour de force of 
laboratory technique. Al- 
though molecules consisting of 
rings of carbon and other at- 
oms are common in nature and 


in the laboratory, the mechani- 
cal interlocking of neighboring 
rings seemed impossible until 
recently. It can be achieved 
only by precisely controlling 
the positions of pieces of the 



links between the connected 
rings; they are held together 
sbnply by having been thread- 
ed through each other like 
links in a steel chain. 


Memory Tests Show 
Risk of Alzheimer’s 

NEW YORK (AP) — Test- 
ing memory and other mental 
abilities can help elderly people 


learn whether they have a high 
risk of getting Alzheimer’s or a 
similar disease within a few 
years, a study says. 

The tests, given to outwardly 
healthy people, identified one 

group with an 85 percent rate of 
developing intellect-robbing 
dementia within four years. An- 
other group developed demen- 
tia at only a 5 percent rate over 
that time. 

That means the tests can dis- 
tinguish between those who 
should get a more detailed eval- 
uation and make plans for their 
future care, and those who can 
be reassured they have little 
short-term risk, said the study’s 
lead author. Dr. David Masur. 

“If you score well cm these 
tests, we can confidently say 
that over the nest four yeans 
you probably won't be getting 
dementia,” he said. 

Dr. Miasur is an associate clin- 
ical professor of neurology at the 
Albert Einstein College of Modi 1 - 
one and the Mon tefiore Medical 
Center in New York. He and 
colleagues presented the study in 
the journal Neurology. : 





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International Herald Tribune, Thursday, September 1 , 1994 


Page 11 


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THETRIB INDEX: 117.71 

International Herald Tribune World Stock Index ©. composed^ of 
280 Internationally investabte stocks from 25 countries, compiled 
Jay Bloomberg Business News. Jan. 1. 1992 = 100. 

.. 120 — 



r,. s>y 

Spf?y> >.V]kw i fi /*>v $£/&} 



Jfv/j Sti* 


World Index 

8/31/94 close: 117.71 
Previous: 1 17.72 


A>,5 L . j? % 


A 

1994 


Asia/Pacific 


Approx, weighting: 32% 
Oosk X32J97 Prev: 132.48 


150 


Europe 


Approx, weighting: 37% 
Owe: 117.90 Prev.: 117.97 



v M A M J J 

A 

1994 

M A M J 

J A 
1994 

1 North America 


Lntin America 


Apprae weighing: 26% 
dose: 97X3 P/WJ 9723 

m 

Approx, wslgtfng: 5% 
Close: 144.71 Prev. 145.81 

Irani 



The Index trades U.S. cfofttr values of stocks At Tokyo, New York, London, and 
Argenti na , Australia, Austria, Belgium, Brazil, Canada, CtiBe, Danmrk, Finland, 
France, Germany, Hong Kong, Italy, Mexico, Ne therla nds. New Zealand, Nonway, 
Singapore, Spain, Sweden. Switzerland and Venezuela. For Tokyo. New York end 
London, the Index Is composed ot the 20 lop issues in terms of market capdaBzation. 
otherwise the bn lop stocks are hacked. 


fv ■ 

4 . 


■ industrial Sectors 


MM. Prat * 

dose d(M change 


MM 

dan 

Pm. 

data 

« 

donga 

re .. .. ,■ 

•t 

Energy 

115.44 11529 +0.13 

Capital Goods 

12020 

120.64 

-026 


1 

tWOHM 

130.77 13120 -0.40 

Raw Materials 

138.83 

137.54 

-032 

Mjr.J « 

• 1 * -j. 

Finance 

117.68 117.77 +0.09 

Consumer Goods 

104.76 

104.63 

+0.12 



Services 

12355 123.68 -0.11 

Miscellaneous 

13722 

13527 

+022 


+- 

For morhlntomraUon about Ow Index, a booklet is avaiatte free of charge. 


Write to Trb index. 181 Avenue Charles de GauPe, 92527 Neuty Cedex, France. 


TI Wins a Battle but Not the War 


By Andrew Pollack 

New York Tima Service 

TOKYO — For 29 years, Texas In- 
struments Inc. fought to win a patent in 
Japan for its invention of the integrated 
circuit, the basis of modem electronics. 
But having finall y won it. the company 
found out Wednesday how difficult the 
patent might be to enforce. 

The Tokyo District Court ruled 
Wednesday that Fujitsu Ltd, Japan's 
largest computer company, was not in- 
fringing Texas Instruments’ fundamental 
patent. The Dallas-based company said it 
was “disappointed" and would appeal. 

The decision could hurt the efforts of 
Texas Instruments to profit from its pat- 
ent portfolio. The company has been 

earning hundreds of milli ons’ of dollars a 
year fay aggressively seeking royally pay- 
ments from other companies. 

The ruling could also revive disputes 
over the protection of intellectual prop- 
erty. which has been the subject of fric- 
tion between the United States and Ja- 
pan for years. 

The patent in question in the court's 
decision was the one covering Jack 
Kilby’s invention in 1958 of the integrat- 
ed circuit, in which multiple transistors 
and other components are incorporated 
on a single chip. 

After a three-decade wait, Texas In- 
struments was granted a Japanese patent 
for Mr. Kilby’s work in 1989. It has 
claimed that virtually all computer chips 


make use of the patent and has been 
arranging royalty agreements with many 
Japanese companies. 

But Fujitsu resisted paving Texas In- 
struments, saying its chips did not use 
the patented technology. It sued in To- 
kyo District Court in 1991. seeking a 
court decision that two types of memory 

The Japanese court's 
ruling could revive the 
dispute over intellectual 
property rights with the 
United States. 

chips did not infringe Texas Instruments 
patents. Texas Instruments countersued, 
demanding an injunction. 

On Wednesday, the court agreed with 
Fujitsu that there was no basis for claims 
of infringement and rejected Texas In- 
struments' request for an injunction. 

“We are pleased that the court has 
confirmed Fujitsu's technical appraisal 
that TTs Kilby patent does not cover 
Fujitsu's advanced products” Michio 
Naruto, executive director of Fujitsu, 
said. 

Richard Donaldson, senior vice presi- 
dent and general patent counsel at Texas 
Instruments, said “we wouldn't expect 
this to have a significant effect” on the 


company's revenue from patent royal- 
ties. because the company has many oth- 
er patents. 

He said he expected Texas Instru- 
ments’ patent cross-licensing agreements 
with other Japanese companies to re- 
main in effect. But he conceded that 
when these agreements came up for re- 
newal, many of them next year, the com- 
panies might seek to lower their royalty 
payments. 

The Texas Instruments patent case is 
symbolic of the issues that have made 
patents a source of trade friction be- 
tween the United States and Japan. The 
United States has complained for years 
about the difficulty of obtaining patents 
in Japan, especially broad ones. 

Japanese companies have complained 
for years that American companies have 
been too aggressive in enforcing some- 
times dubious patents. Texas Instru- 
ments* patent strategy has been seen by 
detractors, including some American 
companies, as a way for the company to 
live off its accomplishments of 30 years 
ago rather than compete in the market 
today. 

But in the last two or three years. 
Japanese companies have become more 
active in contesting the American claims 
and seeking to enforce their own intellec- 
tual property rights. Recently, the Unit- 
ed Slates and Japan agreed to take steps 
toward harmonizing their paient systems 
and reducing the tensions. 


Philip Morris Pays Its Stockholders 


C International Herald Tfflumo 


Complied by Our Staff From Dispatches 

NEW YORK — Philip Mor- 
ris Cos. raised its dividend near- 
ly 20 percent Wednesday and 
said it would spend as much as 
$6 billion to buy back its shares 
over the next three years. 

The dividend increase was the 
company’s second this year, af- 
ter a 62 percent rise in February. 
Its stock closed up $2,375, at 
$60,875, on the New York Stock 
Exchange, on volume of 8.6 mil- 
lion shares. 

Philip Mom's is the world's 
largest producer of packaged 
consumer goods, with annual 
revenue of more than $60 bil- 
lion. Its products include Marl- 
boro, Merit and Virginia Slims 
cigarettes, Oscar Mayer meats. 
Kraft cheeses and Miller beer. 


Its moves Wednesday fol- 
lowed pressure from large in- 
vestors to increase the value of 
their holdings. 

The board decided in May 
against dividing the company 
into separate food and tobacco 
businesses. Company execu- 
tives subsequently acknowl- 
edged they were considering 
ways to increase shareholder 
value, including higher divi- 
dends or share buybacks. 

Philip Morris said its new an- 
nual dividend rate would be 
$3.30 a common share, com- 
pared with $2.76 at present, 
with the next quarterly install- 
ment payable Oct 1 1 "to stock- 
holders of record Sept. 15. 

The company resumed stock 
repurchases in February after 




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INTERNATIONAL MANAGER 



f ! 




By Elizabeth Corcoran 

Washington Post Sc race 

W ASHINGTON — About a 
decade ago, a graduate stu- 
dent at the Massachusetts 
Institute of Technology 
named Danny Hillis dazzled the world of 
computing by dreaming up a new ma- 
chine that came to be known as a “mas- 
sively parallel processor.” 

In the years since. Mr. Hillis succeed- 
ed in building some of the fastest, most 
innovative computers in the world. 

But technical prowess does not guaran- 
tee business success. Earlier this month,. 
Mr. HiDis's company, Thinking Machines 
Corp., filed for protection from its credi- 
tors under Chapter II of the U.S. Bank- 
ruptcy Code. The Cambridge, Massachu- 


setts, company announced it would lay off 
a third of its 425 employees. 

The rise and fall of Thinking Ma- 
chines carries lessons for high-technol- 
ogy companies and for government. The 
company was nurtured at the govern- 
ment trough, and in some respects never 
recovered from die experience. The the- 
ory was that federal money could sup- 
port expensive new technological break- 
throughs that private industry would 
later exploit. 

What Thinking Machines learned, at 
great cost, is that the government is a 
fickle patron. It cannot help a company 
bridge the gap between creating a subsi- 
dized new technology and building com- 
mercially successful systems. 

“The real money is in handling Wal- 


Mart’s inventory rather than searching 
for the origins of the universe.” Mr. Hil- 
lis said. 

Jeny Hosier, a patent attorney who 
invested in Thinking Machines, pul ii 
more forcefully; “The person who starts 
a company should be executed after 
three years — just as a matter of course,” 
he said. 

Like many small companies, Thinking 
Machines was started on a dream. Mr. 
Hosier explained. When the possibility 
of making money became real, the 
founders still concentrated on the goal of 
building die world’s fastest computer. 

Yet many critics said the government's 
support made it too easy for Thinking 

See MACHINES, Page 17 


3Com Succeeds With a Broad Product Line 





By Laurie Flynn 

New York Tana Serna 

N EW YORK — As computer- 
related stocks have surged, 
shares of one of the compa- 
nies riding the rally, 3Com 
Corp., have soared to an all-tune high. 
For a mid-sized computer networking 
company, the milestone might seem to 
deserve only passing mention. 

But for 3Com, which less than four 
years ago was teetering on the brink of 
extinction, with its shares trading below 
56, Tuesday's record-high closing stock 


price of $68.25 signified a remarkable 
turnaround. Wednesday in late trading 
the stock was quoted at $67.50. 

Since the early 1980s, the company, 
based in Santa Clara, California, has 
been the leader in a market it virtually 
invented: the circuit boards that enable 
personal computers to operate as part of 
corporate networks. 

But for 3Com, which less than four 
years ago was teetering on the brink of 
extinction, with its shares trading below 
$6, Tuesday’s record-high closing stock 
price of $68.25 signified a remarkable 


turnaround. On Wednesday, the siock 
closed 62.5 cents lower, at S67.625. 

“No one thought I could pull it off," 
recalled Mr. Benhamou, who has since 
added the titles chief executive and 
chairman to his 3Com business card. But 
analysts now generally agree 3Com has 
excelled almost anyone's expectations. 

Sales for the 1994 financial year, 
which ended May 31. were $827 million 
— almost double the revenue of two 
years earlier. 

3Com is the leader in the SI. 8 billion 

See 3COM, Page 17 


CURRENCY & INTEREST RATES 


Cron Ratos 

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SwatL Kruno TJCB 
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4.14 

m 

eja 

7,18 

7.45 


Pta.i 


tHUH 10*01 

15337 ’3*“ 

15807 'SB0{ 

15340 13W‘ 


Currmnr 
Canadian dollar 
jamacMYM 


30-dat tt-day ffrdov 
1X715 10732 1073 

9MS 91J2 9*50 


Forward Ratos 

i. Currency 

OwtschemOt* JgJ 
' fwtai trm* 0^ (Brussels): Bonce Commerctatc itaUona 

Sounds. INO 9** tAimMam/.J^^ roJtnf iT okvo>: Bevel Bene ot canaaa 


DUcounf rote 
Prime rota 
Federal funds 
3-mentfi CD* 

Caaun. Da per mdays 
Unomn Treasury bill 
l^renr Treosury Mil 
3-year Treasury note 

5- yeer Treasury note 
7-vear Treasury note 
10-year Treasury oeie 
ae^ear Treasury bend 
Merrill Lrncti 3May Ready asset 355 
japan 

Dlycatint rate 
Call money 
j-piMrtn intertanK 
j^muitn intertuiuc 

6- nwvWfl mternon* 

10- year Government band 
Germany 
Lombard rate 
Coll money 
l -month Interbank 
Mionib inieiHank 
6-mmtti interbank 
10-rear Band 


m 
2.0* 
3 s. 
2 'j 

3% 

4.76 

6X0 

5.00 

5.00 
540 
5.10 
7J3 


Prew. 

4X0 

TV, 

i'h 

4J7 

5X6 

*57 

5J* 

6.14 

tsa 

4X4 

700 

7.49 

0X5 

U. 

2X6 

2-5 

2-4 

3ht 

4.7B 

6X0 
6X0 
5X0 
5X0 
51 3 
7.19 


Britain 

Bank base rote 
Call money 
l-mottlh Inreruotii 
3-month Interbank 
S-mcmtn Interbank 
lo-vear Girt 
France 

Intervention rale 
Call money 
1 -month interbank 
j-monm mterbaitv 
i-montti miertxmk 
1 0-year OAT 


5\- 

4Te 

5X0 

S'l 

b 

5X1 

5.00 
5-- 
Pi 
5-. 
6 
7 as 


r-i 

4's. 

5X0 

5V: 

5-. 

155 

5XP i 

5 ‘-i 

5 s» 
S 1 -. I 
5". ! 
7.77 


Sources: Reuters Bloomberg Merrill 
Lunch Bonk cl Tokro. Commenbonk. 
Oreenwe'i Montcou Cretur Luonnals. 

Gold 

AM. pm. Cirge 
Zurich JS44£ 384X5 -040 

London 386XS 3E5.75 - 0X5 

New York KOJO 3«35C Urtcn. 

U.S, (tailors per ounce. London official fir- 

ings/ Zurlcn and New York evening end Clos- 
ing prices: new r or* come • i December. > 
Sourer: Regie- s. 


suspending them for much of 
1993 because of volatility in the 
U.S. cigarette market, which 
was embroiled for much of that 
summer in a price war. 

Philip Morris has repur- 
chased nearly $900 million of 
its shares tins year under its 
existing buyback program, 
which authorizes as much as 
$290 milli on more of repur- 
chases. When a company re- 
duces its shares outstanding, 
that tends to boost the value of 
the remaining shares. 

Philip Morris had about 870 
million shares outstanding at 
the end of June. 

A recent study by three econo- 
mists indicated that a company’s 
decision to buy back its shares 
on the open market is a good 


Kluge Folds Orion Studio 
Into 4- Way Media Merger 


Compiled by Our Staff From Dispatches 

NEW YORK — Actava 
Group Inc., formerly Fuqua In- 
dustries Inc., will serve as the 
shell of a four-way merger of 
companies with ties to the me- 
dia magnate John KJuge, the 
companies said Wednesday. 

A new company, to be called 
Metromedia International 
Group Inc., will come from the 
merger of Aciava and Orion 
Pictures Corp., Metromedia In- 
ternational Telecommunica- 
tions Inc. and Management Co. 
Entertainment Group Sterling 
Inc., known as MCEG Sterling. 

Actava will provide $55 mil- 
lion of secured interim financ- 
ing for Lhe new company. 

The merger will form a com- 
pany with a library of more 
than 1,000 movie tides and in- 
terests in movie production and 
radio and cable television, the 
companies said. 

John Phillips, the chairman 
of Actava, said the merged 
company would seek to round 
out those interests with acquisi- 


tions and eventually would seek 
a merger or acquisition with a 
U.S. cable television company. 

Each share of Orion Pictures 
will be converted into 0.57143 
Actava share. 

MCEG’s stock will be con- 
verted into 1 million shares of 
Orion, which will then be con- 
verted into Actava stock at the 
same ratio. Each share of Me- 
tromedia Telecommunications 
will be converted into 5.5614 
shares of Actava. 

Actava said all of the stock to 
be issued will be identical to its 
outstanding common stock, ex- 
cept that the stock owned by 
Metromedia will be entitled to 
three votes per share. 

Actava stock rose 36.5 cents 
Wednesday, to SI 3.50. Orion 
Pictures, a Hollywood studio 
controlled by Mr. KJuge, surged 
42.563, w $6,125. MCEG Ster- 
ling is a television and movie 
distribution concern that con- 
trols about 250 films. 

(Reuters. 

AP, Bloomberg, Knight -Ridder) 



On Car Sales 


indication that the slock is un- 
dervalued. It found that total 
returns from the shares of so- 
called value stocks, those with a 
low market price relative to book 
value, beat the market average 
by 45 percent over the four years 
after a buyback announcement. 

The average stock outper- 
formed the market by 12.6 per- 
cent, according to the study by 
Thee Verraaelen at the INSEAD 
business school near Paris. Da- 
vid Dcenbeny at Rice University 
and Josef Lakonishok of Univer- 
sity of Illinois. 

After examining 1,239 share 
repurchases between 1980 and 
1990, the researchers concluded 
the market had not caught on to 
the bonanza. 

( AP . Bloomberg) 


Compiled h 1 Our Staff Frrm Ihspciehcs 

LONDON — Daimler-Benz 
AG, Germany's largest indus- 
trial company, reported a sharp 
rebound in first-half profits on 
Wednesday and said increased 
car sales and radical restructur- 
ing had turned the company 
around. 

Daimler, which adopted U.S. 
accounting principles after list- 
ing its shares in America last 
year, posted a net profit of 369 
million Deutsche marks ($233 
million) against a loss of 949 
million last year. 

Under German accounting 
rules, first-half net profit rose to 
462 million DM from 168 mil- 
lion. 

The results were higher than 
expected. 

First-half sales rose 13 per- 
cent. to 48.96 billion DM. 

“Markets have improved, but 
their success is in temall.v gener- 
ated by good new models," said 
Edmund Chew, an analyst at 
Nomura Research in London. 

Edzard Reuter, the Daimler 
chairman, said he expected 
profit to rise in the second half, 
although a weak dollar, which 
depreciates the value of U.S. 
sales, could dampen the in- 
crease. 

“We are hoping for continued 
improved results on the operat- 
ing level." Mr. Reuter said. He 
also predicted that all Daimler's 
divisions, including currently 
unprofitable Deutsche Aero- 
space and the AEG AG unit, 
would be profitable by 1996. 

First-half operating profit 
was 926 million DM from a loss 
of 2.36 billion DM. aided by a 
650 million DM one-time ac- 
counting change in l y 93. The 
turnaround could allow Daim- 
ler to increase its dividend for 
1994. Mr. Reuter said. 

Daimler-Benz last year cut its 
dividend to 8 DM a share from 
13 DM after reporting a 1993 
loss of 1.84 billion DM. 

Several analysis criticized the 


lack of clarity in Daimler’s fi- 
nancial statements and said 
they would not revise Lheir fore- 
casts for 1994 and 1995 results 
until they received dearer an- 
swers from Daimler executives. 

“They will clearly be 
strengthening resulis during the 
next two or three years, but the 
quality of earnings may be a bit 
suspect.** said one analyst, who 
asked not to be identified 

Analysts predicted Daimler- 
Benz would have a full-year 
1994 net profit, under U.S. ac- 
counting methods, of between 
500 million DM and 1.1 billion 
DM. That figure is expected to 
double in 1995 if the dollar does 
not depreciate. 

Mr. Reuter said full-year 
1994 Daimler sales were likely 
to top 100 billion DM. even as 
car sales in the second half are 
expected to fall short of year- 
earlier levels. 

(Bloomberg. Reuters) 

Audi Pares Loss 
With Cost Cuts 

C wifiled hr Our Sjaff From Dopatchcs 

BONN — Audi AG, the 
Volkswagen AG subsidiary that 
makes luxury cars, said 
Wednesday its loss for the first 
half of 1994 less than half the 
shortfall a year earlier. 

Audi posted a first-half pre- 
tax loss of 93 million Deutsche 
marks (S58.9 million), down 
from 198 million DM. The 
company said cost-cutting mea- 
sures improved results. 

Sales increased 2 percent, to 
6.3 billion DM, but deliveries 
fell 2 percent, to 190.727 cars. 
Car deliveries in Germany fell 
nearly 20 percent in the half, but 
deliveries to foreign customers 
rose 14 percent, Audi said. Audi 
said investment doubled in the 
half, to 568 DM. The company 
said it shed more than 3.000 jobs 
in the first half. (AP. Reuters) 


Castle Stake Abandoned 
By Metallgesellschaft 

Compiled by Our Staff Fn*n Dispaicha 

FRANKFURT — MeiaUgeseUsehafi. AG and Castle Energy 
Corp. said Wednesday they had an accord that will allow the 
German company to get out of unprofitable oil contracts with 
the U.S. concern in return for giving up its big minority stake. 

MeiaUgeseUsehafi Corp., a U.S. subsidiary of the German 
company, said it would get out of unfavorable contracts with 
Castie by Jan. 31. 1995. Metallgesellschaft will transfer its 40 
percent stake, or 3.6 million Castle Energy shares, to Castle by 
Sept. 9. Metal IgcseUschaft also will cancel certain Castle Energy 
debt obUgaiions and assume $375 million of Castle’s debt. 

“Today's agreement settles substantially all matters between 
MG Corp. and Castle Energy on an equitable basis,” said 
Thomas A. McKeever. chief executive of Metallgesellschaft 
Corp.. which is known as MG Corp. “The agreement ends a 
complicated and difficult relationship in a commercially rea- 
sonable way and allows each company to go forward unencum- 
bered by past commitments and unresolved differences.” 

Metallgesellschaft, which avoided bankruptcy earlier this 
year only a 3.4 billion Deutsche mark (S2.2 billion) rescue 
package, said in May it would have to take a 1 billion DM 
provision because of the Castle Energy contracts. 

The delivery contracts required MeuiUgesellscbafi to lake all 
refined oil produce from Castle's two refineries through the 
year 2000 at prices that are now above market costs. 

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Page 12 


INTERNATIONAL HERALD TRIBUNE, THURSD AY, SEPT EMBER 1, 1994 


market diary 


Computers Swipe 
Market’s Advance 


Cemptkdby Our Staff From Dispatches 

NEW YORK — Stocks- 
edged lower Wednesday after a 
late bout of computer-driven 
program trading undercut what 
hjad been a modest rally. 

The Dow Jones industrial av- 
erage fell 3.88 points, to 
3,913.42, while declining issues 
on the New York Stock Ex- 
change outnumbered advancers 
by a 4-to-3 ratio. Although 
oroad-maiket indexes mirrored 

U.S. Stocks 

the Dow’s decline, transporta- 
tion issues were higher. The 
Dow transport average was up 
1S0.58. at 1,642.72. 

' The market had been higher 
St mid-afternoon, with the Dow 
industrials up 22 points, after 
Phifip Morris announced a big 
dividend increase and a major 
stock-repurchase program. 

Some of that gain came as 
computer arbitrage programs 
had big investors buying stocks 
to whittle down a steep premi- 
um in futures on the Standard 
& Poor’s 500-stock index to the 
shares in the cash market. The 
programs, however, turned 
around late in the day. Some 
analysts linked the late selling 


to profit- taking after several 
strong advances. 

Bonds edged higher, al- 
though some analysts said this 
reflected short-covering, as 
traders who had bet on a de- 
cline dosed out their positions. 
The bellwether 30-year Trea- 
sury bond rose 4/32 to 100 
19/32, where its yield was 7.45 
percent, down from 7.46 on 
Tuesday. 

RJR Nabisco was the most- 
active issue on the New York 
Stock Exchange, rising % to 7. 
It rose in sympathy with Philip 
Morris, its larger rival in the 
food and tobacco businesses. 
Philip Morris, the second-most- 
active issue, added 2% to 6074- 

Ford was third, falling VA to 
2 9%, as automarkers were 
weak. Chrysler was down 1% to 
4814 after a published report 
said corporate insiders were 
selling the shares. GM dropped 
144 to 5014. 

Texas Instruments lost 4%, 
ending at 7794. A Japanese 
court ruled against it in a patent 
dispute with Fujitsu Ltd. 

Compaq fell % to 3834 after 
an analyst reportedly said chip- 
makers were slowing their ship- 
ments to the company. 

(Reuters 

Knight-Ridder, Bloomberg) 


Jobs Report Outlook 



Compiled by Oar Staff From Dispauha 

NEW YORK — The dollar 
strengthened Wednesday amid 
.speculation that U.S. employ- 
ment data due Friday would 
show the economy growing at a 
steady pace unlikely to lead to 
an acceleration of inflation. 

Prospects for Germany’s cen- 


Fwlgn Exchange 

tral bank to lower interest rates 
after a biweekly council meet- 
ing Thursday also helped the 
dollar grin, traders said. 

The dollar finished at 1.5818 
Deutsche marks, up from 
1.5765 DM, and at 100.19 yen, 
up from 99.62 yen. The U.S. 
currency rose to 5.4135 French 
francs from 5.4050 francs and 
to 13325 Swiss francs from 
1.3295 francs. The pound weak- 
ened to S 13335 from 513340. 

“People are looking for signs 
of steady growth this Friday," 
said Lynn Tierney, a trader at 
Shawmut Bank of Boston. 


“Too-strong growth would 
shock the bond market." 

The dollar's gams were limit- 
ed by a report suggesting the 
U3. infla tion rate may be rising 
in the Midwest, which could put 
pressure on the Treasury bond 
market The dollar has been 
tracking bond prices because 
they serve as a barometer of de- 
mand for U3--denominated in- 
vestments. Strong demand for 
Treasuries from overseas inves- 
tors would generate demand for 
the dollars to buy those bonds. 

“The dollar is going step for 
step with the Treasury bond 
market," said Jim Raphael, a 
currency trader at NatWest 
USA Bancorp in Jersey City. 
New Jersey. 

Traders said they were wary 
of selling the dollar before the 
Bundesbank’s meeting Thurs- 
day, even though speculation 
about a German rate cut faded 
late Tuesday when France's 
major commercial banks raised 
theur own lending rates. 

(Bloomberg, Reuters) 


Aug. 31 


The Dow 





. M M. t! •„ ' 11#( . V-1 

F » A M-: j/ j A 

tm r-- *; v 


NYSE Most Actives 


Dow Jones Averages 


Open Woh Low Lost On. 

Indus DOJ.n 393933 3ML9S ynsja —088 
Trans 1629.80 164350 1<3M< 1442J8 ♦HUB 
Off 189.89 18048 T8BJ7 189.14 --0.73 
Comp 134CLQ7 135X88 1943.13 194073 +1.40 



VOL Hum 

Low 

Last 

Off. 


1527B5 7ft 

Oft 

7 


PlniMr 

85653 61ft 

S7V j 

60ft 

*2ft 

Fords 

69270 30ft 

28ft 

29ft 

—1ft 

RJRI«>plC 6*172 7ft 

6ft 

7 

* to 

LkrdfeJ 

58879 20ft 

19ft 

20 

—ft 

LA CO 

41921 lift 

10ft 

11 

. 






MIOTC5 

382X2 42ft 

39ft 

40 VI 

— 3ft 

TelMes 

32768 63ft 

62ft 

62ft 

—1 ft 

Merck 

32546 34ft 

33ft 

34ft 

• ft 

RJRofP 

31989 7ft 

6ft 

7 


OWW 

30709 48ft 

47ft 

48ft 

—1ft 


39586 79ft 

74V, 




29098 40ft 

39ft 

40ft 

* 1 

GnMotr 

27998 51 ft 

50ft 

50ft 

—1ft 


NASDAQ Most Actives 



i 

i 

Law 

Last 

Cha. 

Intel 

49979 67V, 

57ft 

65ft 

— 1’.. 

MiCSflS 

38063 59ft 

57ft 

58 ft 

—V. 

AST 

3*723 19V, 

17ft 

18 


□saas 

34368 26ft 

24ft 

24nto 

—IV* 

□SCI 

32528 29ft 

28V, 

28ft 

—ft 

AppleC 

31321 37ft 

35ft 

36Vu 

-Vp 

MCI 

31201 25 

24 ft 

24Vu 

— 'A 

SunMic 

27698 28ft 

26ft 

26H 

— ft 

One sos 

27281 l»ft 

15ft 

16 

— ft 

Loris 

25930 43« 

40 

40ft 

—1ft 

3COm 

25427 68ft 

66ft 

66>Vi( 

—IV* 

DellCplr 

2*793 33ft 

31ft 

32 ft 

—ft 

Nave/I 

23581 I5tt 

15ft 

15ft 

-V* 

TeKmA 

21699 23 

22ft 

Z2V» 

—ft 

BMCSrt 

20912 43ft 

41ft 

43ft 

*)ft 


AMEX Most Actives 


AmcM 
Triton 
Echo Bov 
-CheySfts 

’Viocmrt 

iRoyafOg 

ilvaxCn 

■mtorOlg 

.VtacB 

XCLLld 


VOL 

High 

LOW 

Last 

Gbg.‘ 

15164 

9ft 

Bft 

9ft 

♦ft 

10728 

7ft 

2 

7ft 

♦ ft 

10306 

12ft 

12ft 

12ft 

♦ ft. 

9086 

12fe 

12 

12ft 

—ft 

7238 

5ft 

5 

5ft 


6692 

4W. 

®» 

4V* 

.... 

6434 20ft 

19ft 

19ft 

♦ ft 

5896 

2ft 

K'u 

2ft 

♦V* 

5736 33ft 

32ft 

32ft 

— ft 

5652 

IV* 

1ft 

1ft 

— V* 


Market Solos 


NY9E 

Amn 

Nasdaq 

in mflllam. 


Today 

Close 

BUI 

2049 

294.10 


36126 

18.99 

295.14 


Standard ft Pour’s Indazes 

Industrials 

Tronic. 

Utilities 

Finance 

5P500 

Hlgb Low Ctose 
561.13 55732 SS019 
391.67 38774 39083 
157J7 1504) 15734 
4072 46.45 4059 
47739 47463 47569 

Cirge 
— 00* 
+ 108 
— 033 
+ 001 
—058 

SP IDO 

44059 437 JH 437A6 

— 1.93 

NYSE Indexes 


Htatl 

Low Lad 

□M. 

Composite 

Industrials 

Trunsp. 

UlWiv 

Finance 

36086 

32635 

25016 

2IIA7 

21936 

261-52 261.99 
TK m rum 
24010 240A1 
21017 211.02 
21039 21085 

—011 

—0.15 

*131 

—045 

+011 

NASDAQ Indexes 


Htoh 

Law Lost 

Che. 

Composite 

Industrials 

Banks 

Insurance 

Finance 

Transp. 

767 ja 
771 J* 
781.13 
93036 
96094 
742.17 

76X14 76X24 
76060 77083 
777.93 781.13 
932J3 937.18 
958JM 96094 
73X81 7*2.17 

— 132 

♦ 092 

♦ 330 
+ 5JM 
*137 
♦067 

AMEX Stock Index 


HWl 

Low Lad 

dm. 


*S*A9 

45048 45435 

♦ 1A6 

Dew Jones Bond Averages 

20 Bonds 

ID Utilities 

10 Industrials 


Close 

9017 

«UM 

10029 

Cbtae 
+ 0.17 
+028 
+ 0JM 

NYSE Diary 



Close Prev. 

Advanced 
Declined 
Unchanoad 
Total issues 
NewHbns 

Mew Laws 


1238 1281 

960 865 

687 729 

S8®5 2875 

85 86 

19 21 

AMEX Diary 



Ctose Prev. 

Advanced 
Declined 
Unchanged 
Total issues 
NewHiohs 

New Lews 


290 291 

269 279 

267 2S* 

826 824 

22 19 

11 11 

NASDAQ Diary 



Cloxe Prev. 

Advtnced 
Declined 
Unchanged 
Total issues 
New Highs 

Now Lows 


1777 1683 

1456 14*1 

1854 1911 

S0B7 5085 

139 116 

73 59 

Spot CommodWes 

Commodity 


Today 

Prev. 


EUROPEAN FUTURES 


Metals 

Close Prerfow 

Bid fl* BU Aak 
aluminum (Htan Grade) 

Donors per metric Ion 
Snot 1S05JW 1 S06JM 1487JH 14B8JM 

Forward 153440 153540 151740 151B40 

COPPE R CATHODES (HIM Grade) 

DoUon oer metric too 
Scat 349940 250040 2*57 JD 245050 

Forward 250940 251040 344940 347040 

LEAD 

DMam mt metric ten 

soot 5B9J0 59050 '58840 58940 

Fanmnl 60540 40640 60540 60640 

Delian oor metric tea 

Spot _ 616500 617540 602S40 603540 

■ Forward 425840 434000 4T2040 617000 

Dollars per metric Ton 

S cot S37SOO 538540 534540 535040 

35TSU 542MBMSU " 

DoUon ear metric tan 

SPOT _ ?71 JD 97150 96550 95440 

Forward 99540 99640 98940 99040 


Financial 


High 


Law dose Change 


3-MONTH STERLING (UFFE) 


tSBOON 

»ts of IN pa 




9437 



— 032 

Dec 

9X43 

9X36 

9140 

nm 

Mar 


9X68 







— 004 

Scp 

9133 

9138 

91.71 

— 032 


9134 

9138 

9132 

—031 

Mar 

91JJ4 

9098 

9134 

— 031 

Jen 

9087 

9079 

9036 

+ 031 

Sep 

9038 

9069 

9076 

+ 031 

Dec 

9067 

9063 

9837 

+ 00* 

Mar 

9059 

9054 

9038 

+ 005 

Jun 



*046 



Est volume: 36472. Open Ini.: 537440. 
3- MONTH EURODOLLARS (LIFPE) 
XI mJMan - ptS of 168 Pd 


Sea 

N.T. 

N.T. 

*4.95 

Unch. 

Dec 

MJI 

901 

909 

-001 

Mar 

N.T. 

N.T. 

9433 

— 001 

JM 

N.T. 

N.T. 

9X70 

— 031 

Sea 

N.T. 

N.T. 

9X42 

— 031 


Est. volume: 5- Open bit.: 30. 
3-MONTH eUROMARKyUFFG) 


Aluminum. B> 

Cooper electrolytic, lb 
Iran FOE, fan 
Load, lb 
Silver, trov ax 
Steel (scrap). Ian 
Tin, lb 
Ztnc.lt) 


n<uq 

1.1B 

21340 

tos 

HO 

110.17 

14438 

(L4827 


0475 

1.14 

21340 

(08 

5485 

110.17 

3AM 

0*823 


DM1 mfllloa - Pis Of IBB 
S«f> 9545 9581 

Dec 9449 M45 

Mar 9441 9457 

Jun 9429 9424 

Sap 9150 93.94 

Dec 9148 9X64 

MOT 7348 9X43 

JOB 9025 9020 

SOP 9X06 9002 

DOC 9344 7743 

MV 9066 9063 

Jun 9X55 9X50 


9544 — 041 

9448 —0.OT 

9459 —043 

M.28 —041 


9045 — 044 

9023 —043 

9002 — 045 

9243 —044 

9066 — 042 

9253 —044 


Est. volume: 5X297. Open bn.: 768.987. 
3-MONTH PIBOR (MAT1F) 

FF5 minion - Ms at IN pel 


SfP 

9439 

9422 

9437 

-005 

Dec 

9X35 

9377 

9X83 

— 109 

Mar 

9X52 

9245 

9349 

— 011 

Jan 

9125 

9117 

*X20 

— 012 

5ep 

9X98 

9X91 

9X95 

— 039 

Dec 

9X74 

9X70 

9X7T 

— 011 

Mar 

9X60 

9X54 

9X56 

— 037 

Jun 

9245 

9X37 

9239 

—039 


Est. volume: 5X435. Open Ini.: 199257. 
LONG GILT (UFFE) 

(SUM - pts & Mods al 1M pet 
5«P 103-13 101-19 103-00 — M3 

Dec 101-31 101-04 101-19 —Ml 

MV N.T. N.T. 109-31 —Ml 

Est. volume: 76,131. Open (nt: 121401. 
GERMAN GOVERNMENT BUND (UFFE) 
DM 250409 -PtXOflM PC) 

Sep 9149 9146 9175 — (L23 

Dec 91.18 9085 9094 —0.22 

Mar 9035 9055 90J9 —047 

Est. volume: 99461. Oaen Irrt.: 152.127. 
10-YEAR FRENCH GOV. BONDS (MAT I FI 
FF56M00 - Pis at 100 pet 


Sep 

11164 

11118 

11348 

—040 

Dec 

11X74 

11X32 

11238 

-040 

Mar 

11150 

11TJ4 

111.94 

— 04C 

Jan 

11130 

111 JO 

111J8 

— 040 


Est. volume : 151,199. Open biL: 1447S0. 


Industrials 

Hleb Lew Lost Settle (Wge 
GASOIL (IPE) 

U4. donors per molrlc too-tau of 100 tom 
Sen 15X75 15050 15774 15Z25 +140 

Oct 15575 15X25 15550 15X30 +140 

Nov 15840 15540 15775 15775 +140 

Dec 15975 15740 15940 15940 +175 


Real-Estate Problems Clip AGF Profit 


Bloomberg Business ,Vena 

PARIS — Assurances G£n6rales de France 
SA said Wednesday its first-half net profit fell 
26 p er cent as problems in the real-estate sector 
offset improvement in its insurance business. 

The company, which the government has 
said it hopes to privatize soon, earned i.04 
billion French francs ($192 million) in the 
half, down from 1.4 billion francs. 

AGF posted a net loss from real estate and 


holding companies of 402 million francs, 
compared with a profit of 438 million francs a 
year earlier. 

Continuing problems at Comptoir des En- 
trepreneurs, a real-estate financing company 
in which AGF has a 29.7 percent stake, dent- 
ed AGFs net profit by 103 million francs. - 

AGF said it earned 8S3.million francs on 
its life-insurance operations in France, up 
from 799 million francs a year earlier. 


Jon 

Feb 

MV 

Aw 

May 

Jun 


High LOt* 

16140 15875 
14175 15940 
16050 16040 
H.T. N.T, 
15740 15740 
15640 15475 


Est. volume: 11492. 


LOS) sent* arse 
16075 16073 +125 
16145 16145 +145 
16040 14040 +175 
H.T. 15940 +175 
15740 15740 +175 
13640 15*75 +175 
□pen Irrt. 106518 


BRENT CRUDE OIL (IPE) 

US. dollars, per barrewots of 1400 barren 


Oct 

1060 

1622 

1037 

1AJ6 

+ 01* 

Nor 

1071 

10S 

1042 

1042 

+ 036 

Dec 

16.77 

1643 

1635 

1055 

+am 

Jan 

1075 

1041 

1646 

1647 

+ 034 

FOB 

1638 

1041 

1041 

1641 

UnctL 

Mar 

1058 

1640 

1640 

1040 

+ 002 

Aar 

1640 

1040 

1640 

1640 

+ 033 

Mar 

N.T. 

N.T. 

N.T. 

1040 

+ 031 

Jn 

1060 

1630 

1060 

1640 

+ 001 

Jly 

N.T. 

N.T. 

N.T. 

1640 

+ 033 

JUKI 

N.T. 

N.T. 

N.T. 

1640 

+ 03S 

Sep 

N.T. 

N.T. 

N.T. 

1640 

+ 037 

Est, vclumo; 37331 . 

Open Int. 143382 


Stock Indexes 


Low Cion Change 


High 

FT5E 100 (UFFE) 

OS mr Index mat 
Dec 32924 32724 33774 

Est. volume: 11.187. Open Irrt.: 614 
Sea 38054 38054 SBBSA 

Dec 38264 30264 38264 

Est. volume: 400. Open bit.: 0. 

CAC49 (MATIF) 

FF208PV index POM 
Aag 207140 204240 2065.10 - 

Sea 20B040 205040 207940 +1140 

Od 208*00 2861411 318940 + 1050 

OK 210340 210X00 2109JH +1140 

MV N.T. N.T. 213X00 +1140 

Est. volume: 48341. Open bit: 61571 
Sources: Motif, Associated Press, 
Leaden Inn Financial Futures Exchange, 
Inti Petroleum Exchange. 


+ 04 
ll. 

— 104 

— 104 


+5.10 


DhrVdwnds 


Company 

Per Amt 

Par 

Rec 

IRREGULAR 



Arson NVOf-d 

c 334 

9-6 

10-7 

Franklin Inca Fd 

- 315 

Ml 

9-15 

Franklin Util 

- .131 

B-31 

9-15 

Jundt Growth Fd 

_ 34 

9-15 

030 

Ntiveen Prmlnco 3 

- .0583 

M 

UM 

Nuvsen Prmlnco* 

- 3547 

94 

10-3 

Nuvean Prmlnco 5 

_ 3743 

94 

MM 

Nuveen Prmlnco* 

_ 3719 

94 

NM 

c-apprax amount per ADR. 




STOCK SPLIT 
Batcfcem Corn 3 for 2 split. 

Median] Svgs Me 2 tor 1 spin sublect to ap- 
proval. 


INCREASED 


Burnham Podflc 
Medford Svgs 8k 


AGE Fund 
AmCan Carp BO 
African FedJJVUg A 
AmCap FedlMtg B 
AmCop GlbGvSecA 
AmCao Gttj&vXec B 
AmCap GvScc A 
AmCapGvSecB 
AmCapGvS«C 
AmCan HIYM Inv 
AmCop Muni Bd 
AmCap Tex MunISec 
BCE Inc 
Bk Nova Seorta 
Benesh ire Gas 
Betz Labs 
CFWCamm 
CommonSerae Muni 
Conserve Svss 
Franklin CA TxFr 
Franklin CorpQuai 
Franklin FetOTxFr 
Franklin invGrd 
Franklin NYTx 
Franklin Rising Dv 
Franklin US Gv 
Granite Construct 
loo too Enterprise 
Masss Health 
Mull Fedl Svgs 
PaJrlol Glbl Dlv 
Torstar Corp B 
Worthington Foods 


355 9-20 12-30 
38 MS 10-14 


M 422 8-31 9-15 


M 
M 
M 
M 

M .. 

M 4555 
M MBS 

M JMB5 


JM 8-31 9-15 
XS Ml HO 
437 900 9-30 
451 8-312 9-15 
JM6 8-31 MS 
9-1 9-15 
9-1 9-15 
M 9-15 


M MTS Ml MS 


_ _ 8-31 9-15 
445 9-30 9-30 
47 9-15 10-15 
7?' 10-4 10-27 
775 9-30 10-15 
46 10-27 11-10 


Q 492 9-6 9-30 

M 459 MO 9-38 
O 43 9-5 9-9 

M 437 B-31 9-15 
M 483 Ml MS 
M 465 Ml M5 
M 433 Ml 9-15 
M 463 B-31 MS 
Q .06 8-31 9-15 

M 44 B-31 9-15 
Q 45 9-30 IB-21 
Q 43 9-23 10-15 
M 469 9-9 9-30 

O .15 9-15 9-30 
M .1031 9-14 9-28 

g JT M5 9-30 
O 43 9-23 10-28 

o-aaneal; g-payable M Canadian funds: m- 
moathhr; e-ciuartwlr; t-sem+annoal 


French Jobless Total 
Edged Down in July 

Reuters 

PARIS — The number of un- 
employed people fell for the 
second month in a row in July, 
figures released Wednesday 
showed, supporting hopes that 
a four-year climb to record job- 
lessness in France had finally 
stopped. 

The Labor Ministry said the 
seasonally adjusted number of 
unemployed fell by 10,800 to 
332 million. 



fi 

i 


Data Indicate Slowing U.S. Growth 

WASHINGTON (Combined Dispatches) — Orders 10 U.S. 
factories fell 13 percent in July and a broad gauge of future activity 
stood still after months of modest improvement, the government 
said Wednesday, furnishing evidence of a slowing economy. 

The drop in factoiy orders was the first in fivemonths and the 
biggest in two and a half years, the Commerce Department said. 

The other report, the Index of Leading Economic Indicators, was 
- unchanged in July after rising 0.2 percent m June and 0.1 percent 

ill frhsty 

Separately, The Purchasing Management Association of Chica- 
go said its index of economic activity fell in August to an adjusted 
61.6 percent from 63.0 percent in July. The Chicago association's 
report usually indicates what direction The National Association 
ofPurchasing Management’s survey will take; the national survey 
for August is scheduled for release Thursday. 

Wednesday’s reports support recent data that suggest the econ- 
omy is expan ding at a moderate pace. Analysts said if the trend 
holds, it could forestall any further increases in interest rates by 
the Federal Reserve Board. (AP, Knigfu-Ridder) 

Fidelity Buys 10% Stake in Comair 

WASHINGTON (Bloomberg) — FMR Corp. the Boston- 
based manager of the Fidelity mutual funds, took a 10 percent 
stake in Comair Holdings Lkl, a Cincinnati-based regional air 
carrier. 

FMR bought 133,300 shares between July 6 and Aug. 10 at 
$2234 and 525.61 a share, according to filing with the Securities and 
Exchange Co mmiss ion. FMR holds 23. million Comair shares. 

Com air’s net income for the first quarter ended June 30 rose to 
$9.4 million from S8.03 million in the year-eariier quarter. Revenue 
increased to 587.9 million from 570.3 million. 

Seagram Second-Quarter Net Rose 

MONTREAL (Bloomberg) — Seagram Co. said Wednesday its 
second-quarter earnings rose 32 percent on strong beverage sales 
in the United States and improved results at DuPont Co. Seagram 
owns 24.3 percent of DuPont. 

The liquor, wine and juice maker said its board approved an 
increase in its quarterly dividend by 1 coat, to 15 cents. Net 
income in the quarter rose to 5224 million from 5170 million a 
year ago. Revenue increased 3 percent, to Sl-45 billion. The 
company reports in U.S. dollars. 

For the first six months, net income rose 4 percent, to 5346 
milli on, while revenue increased 3 percent, to 52.66 billion. 

Big Sales at Galeries Lafayette in N. Y. 

NEW YORK (AP) — Bargain hunters mobbed the Galeriesr 
Lafayette at Manhattan’s Trump Tower on Wednesday after news 
of the French fashion store's impending U.S. demise reached 
shoppers. 

The store, which announced Tuesday it is closing its store Nov.. 

1, has cut prices up to 80 percent 

I 

Annenberg Buys 5% of Weeks Corp. • 

WASHINGTON (Bloomberg) — Walter Annenberg bought a! 

5 percent stake in Weeks Corp., a real estate company based in' 
Nor-cross, Georgia, for S7.9 million. j *. 

Mr. Annenberg, through his Annenberg Foundation, bought; 
400,000 shares at 519.25 and S20J8 a share between Aug. 17 andj 
Aug. 22, according to a filing at the Securities and Exchange; •. 
Commission. The company went public on Aug. 17 at $1925 a) 
share. i 

In July, the Annenberg Foundation said it bought a 5.5 percent { ~ 

stake in another real estate company, Charles E. Smith Resjden- - 
dal Realty Inc. of Washington. ! 4 f' V 

For the Record 

Deha Air Lines Inc~, in the midst of sweeping cost-cutting plan, • 
dismissed 758 maintenance workers, the company said Wednesday. ' 

Delta has said it plans to cut 12,000 to 1 5,000 jobs’. (Bloomberg AP ) ! •" 

Pacific Gas & Electric, a leading U.S. electricity and natural gas 1 '1 " 

supplier, said it planned to eliminate up to 3,000 jobs to reducecosts • “ 
and maintain prices. Most of the cuts, which will come from-both ! ' 

labor and management, will be voluntary early retirements. (AFP) j 'll . 

Bertelsmann Music Group said Joe Galante would become i — • 
c hair man of the RCA Records label. In Nashville, Tennessee^Mr. 1 -~ 

Galante is currently president of the RCA Records Label in New l - 
York - (Bloomberg) j .V 


in 


WORLD STOCK MARKETS 


IgiKi Franc# Pimm Aug. 31 
OoMPrav. 


Amsterdam 


ABN Amro Hid 
ACF Holding 


Ahold 

AkxoNotMri 

AMCV 

Boto-Wimnwi 
CSM 
DSM 
Etaavtor 
Fokkor 
GW- Brocades 
HBG 
MMmrkan 


Hun t«r Douglas 

lHCCc6and 

inhn- MuelMr 

Inti Nwfcrtcmd 

KLM 

KNPBT 

KPN 

Nadnavd 

OcaGrlntMi 


Ptrt lias 
Polygram 
Roboco 
Roaamco 
Rnllnca 
Poranto 
Royal Dutch 
«ork 
UMImr 
VaoOft w ntnm 
VNU 

WdHmVKIuwh 

KIW5S vxsr 


59.90 6060 
3870 3870 

10140 I02J0 
4740 47.1 D 
21940 220 

75.40 7370 

36.90 41 
4*46 6940 

Ut 145 
17140 17270 
16J0 1640 
46 46.10 
297 2*9 

24140 211.10 
8040 8148 

82.70 83 
030 4160 

M 91 
81 8170 

51.70 5240 

50J0 50 

5*7a S» 
6LM *4.40 
7630 7620 
4740 47.70 
5740 SI. 
7*40 79 

l»s ran 
5610 5620 
122 12140 
8X40 8X50 
200 19640 
4740 4740 
30X30 20X20 
4140 4940 
wun Ui30 
122.10 121 JO 


Brussels 



Radical 
Raryalc Bate* 

SocGanBawjji 
Sec Gan BaMtai* 
Senna 
SoMV 


TroctctoH 
UCB 
Union Mintora 
I Lilt 


2540 2555 
7710 7790 
4800 4790 
2010 39VO 
4290 *270 
20850 260M 
12525 13600 
2550 2520 
aMO 3D60 
713 210 

5040 5M0 
7420 7480 
13M 137* 
5*50 5*00 

3145 3150 
1482 14*6 
4445 4420 
*470 9U0 
5150 5150 
2980 3000 
*7*0 6740 
1484 1480 

10575 10475 

3020 3030 

536 53* 
5300 5300 
8250 8390 
2280 3280 
14400 14400 
16025 1*050 
10500 MMO 
10658 10573 
2S42S 2SS2S 
2M 2650 
*980 *M0 


5sX M ! ^ sa « : 76*616 


Frankfurt 


Of SEL 


176 TO 
30 341 

3480 2453 
f 477.50*9530 

975 1000 

“mm 

sssr § 1 

748 750 
Bank 401 3*o 

BBJQ ® 
MRMAk OT » 

wntat 233 254 

lor Bora SJS 81 ** 
H M so* 

Brack 3*1 260 

raw Book TO 738 

as 542 535 

ner Sank 

SpMBBKSM ™ 

r rn 2S 

ona Vff 930 

s 21330 217 

V9 

Sg 

- 

ciwwcrke lg 151 

an 211 214 

441 44$ 

ettnann 43930*3030 

Baseli 21 120? JO 

it RueCk 2850 2930 


487 JB 

*WA WE H 

in *75*7050 

TfMMfnolall 335 3X 


OospPrav. 



Helsinki 


Amor-VMvRNi 

Enso-Gutzall 

HMrtamakl 

KAP. 

KvmnwM 

M*ira 

Nokia 

Pah tala 

Rtgala 

Stack maim 


111 114 

4430 4* 

157 158 

1M0 10L10 
140 141 

147 147 

555 538 

49 47.50 
111 109 

245 2*5 




Hong Kong 


Bk Eost Alta 
Catnay Pacific 
Chauns Kong 
Oiino Ltaht Pwr 
Dairy Farm inn 
Hana Luna Dev 

Nona Sana Bank 


HK Air Em. 

HK China Go* 

HK Elacirlc 
HK Land 
HK Raalfy Trust 
HSBC Hotdtatn 
HKsnanoHUs 
NK Tatocamm 
HK Furry 

ritfiui wnomptn 

HvsonCtav 
JoroUMMatn. 
Jdrdfne Str HM 
Kawtaan Motor 
Mandarin Orient 
Miramar Hotal 
NMVWMDtv 

SHK Praps 
Hlhw 
Swira PocA 
TalQtawno Pm 
TVE 

Wharf Hold 
winaOnCa inti 
Wlrnor ind. 

BSMST?J3& : 


31 JO 
U 

39.10 
39.90 
1170 
14J05 
55J0 
4690 
3670 
16*5 
27 35 
20.45 
21 JO 

91 

1203 

17 

1410 

3870 

2X30 

72.75 

32 

15A0 

1073 

31-40 

2695 

57 

Ul 

65 

11.10 
413 

3X20 

nja 

1L93 


30.90 
1305 
3820 
39 JO 
1170 
1193 
5475 
4110 
35 
1473 
26J0 
19.40 

30.90 
8925 
1173 
1690 

1435 

37 JO 

xuo 

4625 
29.W 
1X40 
1 165 
21.10 
25J0 

*425 

1123 

410 

3270 

11JS 

11.90 


Johannesburg 


AECJ 

AnSoAmar 

Barlows 

Blwoor 

Button 

Da Boon 

DrtatonMn 

Ooncor 

GFSA 

Harmony 
Hhmvald Start 

Kloof 

NaAOrtkCra 

Ro ndtonta M 

Rusatat 

SA Brawl 
51 lie tan a 
Sasoi 

wntamDoap 


29 29 

121 132 

3*0 2M 

32 3225 
10.75 1050 
4570 4* 

KELSO 105 
4770 48 

1370 1370 

rajs in 

30 3*25 
32 3270 

4470 47 

35 34 

53 5Z30 
115 114 

8650 877T 
48 NLA. 
3329 33 

199 19* 

383177 


London 

A«wy Non 474 
4111*0 Lvans 623 
ArfoWtagfns 230 
Argyll OrauB. 2.J6 
AS* Bril Food! 574 

BAA 2-” 

BA* 3JO 

BtmkScaltand MJ 
Barclays 315 
Bass 194 

BAT 473 

BET l.W 

a to* Greta 321 

SSs 0 *™" W 

gr* tss 

Brit Airways 4.17 
Brit Gas, 173 
BrlTStWl L4? 

Brit TeHcont 3|1 

gshk. « 

SSSvUho Z28 

comm Union 155 

BS-| 

FHons 

Fart* 

GEC 107 


375 

*78 

3.78 

106 

578 

113 

473 

2 

577 

576 

631 

1.14 

107 

7.43 

573 

673 

4.T5 

473 

U* 

^2 

320 

372 

675 

117 

137 

573 

IS 

377 

198 

273 

171 

141 

377 


Cam Acc 
Glaxo 
Grand Mat 
GRE 
Guinness 
GUS 
Homan 
HIHsaown 
HSBC Hldgs 
ICI 


Klngflshar 
LadbrakB 
Land S8C 
Laoort* 

Lasmo 

Legal Gan Gra 
Llovas Bank 
MtorftsSp 
ME PC 
Natl Power 
Naiwest 
NltiWsI Water 
Ptarson 
PiO 
Pllklngton 
P nwar Ge n 
prudential 
Rank Ora . 
Reckltt Col 
Remand 
Read Inti 
Rauws 
RMC Grouo 

RolU Rovca 

Rottimn I unlfl 
Roval Scot 
RTZ 

SabfftMirv 
ScotNawcai 
Seat Power 
Sears 

Severn Trarl 

Shell 

SMw 

Smltfi Nephew 
SmlttiKllne 8 
smith WH) 

5wi Ailknce 
Tola 6 uvla 
Tesce 
Thorn, EMI 
Tomkins 
TSB Group 
UnUavor 
Uld Biscuits 
Vedalone 
War Loan 3M 

W* II come 
WMmread 
WHHamsHdgs 
wumCerroen 
>T-3 


1.97 

57* 

137 

476 

673 

164 

777 

112 

92? 

179 

191 

425 

872 

471 

US 

425 

121 

573 

771 

570 

177 

474 

116 

144 

650 

271 


579 

772 

113 

*78 

179 

190 

616 

871 

470 

520 

422 

120 

603 

7M 

1*5 

175 

6*5 

130 

X43 

648 

270 


1025 1023 

277 147 

223 2.17 

1170 1143 

136 145 

229 275 

41.19 4144 

720 7.1* 

Ul 17S 
157 361 

172 173 


Madrid 

BBV 3073 3075 

Bra Central hub. 2630 2645 

Banco S en tondor 531 D 5380 

Bantsto low 1030 

CEPSA 3280 328 5 

□raoadm 22m rao 

Endesa 5850 5980 

Ercraa 1*1 171 

Iberdnalo 880 887 

Rt »>«rt 4200 4195 

Tabocalera 33S0 3300 

Telefonica 1815 1140 

= 312LSS 


Milan 

AHeonza MSO0 166*5 

AadMlS. . 

Autostrada orlv IMS 1790 
Bca Agrlcoltura »80 2W0 
Bra Commer Hal ,3790 3795 

Bca Hex Laver* MB 13400 

Bca pop Novara woo ton 
Banco dl Romo TO6 1*40 
sea Amtxwlano 4340 <290 
BcaNwalirliP 

cmmilaltatw 

EST— 

Fta^Aoralnd 8SM M0 
Finmeccanica 1740 l» 
Fondtartosno 11»0 1JW 
Generali Asslc 41^42108 
IPIL 6130 *140 

iMaanentt M™ 

Itataaa ,5340 rag 

MMkKxmai 10IO145OS 
Montodbon MJl Mg 
OHveHl mo zm 

Ptratllapa ^5 
RAS 2«B5 2S950 

DMivinti W7S Ww 

37S0 3770 

2195 2260 

5080 5090 
Tara Asslc 28000 28400 


SIP 
SME 
5ntabPd 

isr 


K»inR 


Montreal 

Aloon Aluminum KW glj 

Buna Montreal gw 2Sta 

Bell Canada ££ « 

Bombardier 8 20*li 1955 


Close Pray. 
1BW 1744 
4 VS 6W 
me 8W 

14W MV* 
4 4 

3B W* 
7+. W* 
EM 20H 
5W gs 

I*** 194* 
JWS 190* 
1990 19VS 
18*4 18*0 
14 13*4 


Camblar 
Cascades 
Dominion Text A 
DcnohuoA 
FCAInH _ 
MacMillan Bl 
Natl Bk Canada 
Power Carp. 
Pravlao 
OuataecTcl 
Quoberar A 
OuetwcarB 
TeMuiobD 

Vldootron 


Paris 


Accor 682 683 

AlrLtauld* 8fi W 

Alcatel Alsthom 599 _ 605 


Am 
Banaalro (Cle) 
BiC 
BNP 

Bauyguos 

Danono 

Curieluur 

C.C.F. 

Coras 
Oxirgaurs 
Clments Franc 
aubMtd 
-EH-Aaullaine 
Euro Disney 
Gen. Eaw 
Havas 


262 24170 
320 512 

1300 1300 
25070 247.10 
*76 676 

814 819 

2138 21*7 
•m.m 723 
11670117.90 
1498 1495 

317 318 

437 423 

416 414 

9 JO 9.10 
560 560 

470 46320 

584 

LofaraoConiM 447 452 

Leorand 67M 6670 

Lvon, Ewax OT 549 

Oreal (l - ) itdq 122B 

L.V76K 891 

Matro-Hadiort* 11870 11878 
MktwnnB 23330 23X60 

Moulinex 12X80 1» 

Paribas 37070 374jo 

Pecwney inti 1*1.10 lg 

Peraad-mcord 33250 33070 

Pe uge ot 868 872 

PlnauU Print 950 W 

R u dloltclinlnue 547 5SS 

Rh-PoutancA 137 JO 134 

RaH. St Louts 1613 1610 

Sonofl 959 959 

Saiitt Gabaln 486 «W 

■XE.B. 558 550 

3te General* OT 

Suez 273 272 

ThWruWvCSF 141-70 165. W 

Total 32270 31630 

UAP. |55___15(8 

Valeo 

48 Index 
M 


| Stockholm 


AGA 

64 

<5 

Asea A 

J96 

598 

Astro A 

176 

1751 


93 

71 

Electrolux B 

389 

389 


41* 

416 

Esselto-A 

*8 

*5 

Handelsbanken 

93 


Investor B 

180 

182 

Norik Hydro 2615026050 


129 

128 

5andvlk B 

123 

123 

SCA-A 

MB 

116 


45J0 4540 

SkandloF 

113 

113 


153 

153 

SKF 

139 

141 


434 

432 


100 9050 

Volvo BF 

146 

147 


I9H32 

S Sydney 


Amcor 

957 

955 

ANZ 

X9* 

3.98 

BHP 

2050 

2028 

Boral 

349 

349 

Bausalnvltle 

138 

097 

Cotes Myer 

435 

42* 

Coma ICO 

550 

550 

CRA 

IV76 

2U 

CSR 

*32 

423 

Fosters Brew 

1.14 

1.13 


140 

147 

ICI Australia 

n jo 

11.10 


155 

l.W 

MIM 

333 

112 

Nat Aust Bank 

KUW 

1092 


9.12 

9.15 

Nine Network 

*J0 

431 

N Broken HIM 

1*3 

334 


455 

453 


3J4 



2J4 

2J3 

OCT Rwaouroe* 

157 

158 

Santas 

431 

432 

TNT 

255 

239 

Westons Minina 

UM 

B 





437 

439 

All ordtoaries Indcr ; 212X18 
Pravfcsao : 211050 


Saopaulo 

Banco do Brasil 2120 22JB 

Baaesaa I1A0 lus 

BraaeSCD 670 690 

Brahma 272 273 

Cam lo 10210X9* 

EMrebras 374 370 

Ilaubanco 273 271 

Ltaht 321*9 335 

PoranooonafiKi 1570 ixw 

Polrebrw 15715LM} 

Souza Crux 0440 *1*D 

Tetahras 5230 53 

Teioap 449.99 465 

USliWnos 1 jUJ Ul 

Vrta RioOece 13814170 

Vorig 12170 121 




Singapore 


asm Poc Brew 

Carabos 

City Deeetomnt 
BCarTtago 




DBS Land 
FE LcvIngtMA 
FraMr&Naave 
Gt Eastn LHe 
Mono Laang Fin 
Inchmae 
Jumna 5hlevart 

KavHienJ Copal 

Komri 

we t s teet 

oScfasim! 

Caeos Union Bk 
OBaos Union Eirt 
Simo Skteoaore 
Stag Aerosxxe 
Stag Airlines tarn 
Stag Bus SvC 
Sing Land 
Sing P*tim 
Stag Prase tarn 
Sing sntaoidg 
Sing Teteaumm 
straits Stevn 
Straus Tr«w 
TotLnBank. 

UM Industrial 
uidOwaBkfoni 
Uld frseas Land 

VsasSTBEi 


1X40 1670 
62S 770 
7 JO 7 JO 
DM 11.90 
II 11.10 
476 472 
476 1J2 
1730 17 J0 
2U0 2670 
470 472 
UO 560 
UAO 1430 
2 179 
11,10 11 
020 036 
2J2 230 

14.90 14J0 

MS L43 
7JB 730 
136 137 
246 243 
14.10 14 

940 940 

730 770 

2*9 238 
1670 16*0 
271 234 
348 348 
NA 436 
336 346 

702 220 

NA. 137 
1430 W40 
238 224 
; 271X70 


Close Pro*. 


Tokyo 

Akal Ehtdr 4*2 4*1 

Asani Chemical 796 784 

Asdi) Gtau 1250 1250 

Bank of Tokyo 1560 1550 

Bridgestone 1600 1580 

Canon 1750 1740 

Casio 1240 1®» 

D0( N taaan Print wao woo 

Dalwa House 1530 1S10 

□aim Securities 1570 1590 

FOMJC 4410 4550 

Fall Bank 2260 2238 

Full Photo 2250 2240 

Fulllsu 1090 1080 

Hitachi 9*2 *11 

Hitachi Cable 850 851 

Honda 1660 1640 

Its Yekodo 5300 5250 

Itochu NA NA. 

^anJUrikta. 750 754 


1190 1200 
595 907 
733 729 
7420 7420 
1760 1750 
1100 1100 
2*20 2620 
538 54? 

<91 688' 
78S 779 
1260 1220 
1*2 858 

m 793 

1080 1030 
1560 I960 

1220 1300 
1080 1080 
1190 1200 
1000 1020 
750 748 
375 373 
651 654 

771 766 

2210 2210 
9120a 8990a 
1150 1150 
2730 2730 
967 965 
578 563 
1820 1800 
738 730 
2070 2050 
<110 6020 
1990 1*80 
574 574 

Ml 946 
341 348 
690 <79 
1270 1280 

4330 439 

500 571 
1240 1230 
3014 3030 
1490 1460 
775 771 

759 752 


Kawasaki Stool 
Kirin Brewerv 
Komatsu 
Kubota 
Kyocera 
Menu Elec Inds 
Matsu Electrics 
Mitsubishi Bk 
MllsuWstn Kuael 

Mitsubishi Elec 

MinuUsIrt Hev 

Mitsubishi Corn 
Mitsui and Ca 

Mitsui Marine 

Mitsakttftl 

Mtlsuml 

NEC 

NGK Insulators 
Nlkko Securities 
Nbwen Kegaku 
NIMXXlOa 
Nippon Steel 
Nippon Yusen 
Ninon 
N am ora Sec 
NTT 

Olympus Optical 

Pioneer 

Rian 

Sonya Elec 

Sharp 

5Mnu» 

SMnetsuChem 

Sony 

SumltomoBk 
Sumitomo Cham 
SumI Marine 
Sumitomo Metal 
raise! Cora 

TakedoCnem 

TDK 

Tollln 

Tokyo Marine 
Tokyo Eke Pw 
Tu u m Printing 
Term ind. 
Toshiba 


Toyota 

YomaicM Sec 


2160 214H 
861 868 



Toronto 


AMHM Price 19% 19H 

Astiico Eoai* 17% 17W 

Air Canada 7*y 7to 

AJberio Energy 20* 20k. 

AmerBarrick 31 W 1M 

BCE 47* 48to 

Bk Nova Scotia 271* 27V. 

BC Gas 147y 1448 

BC Telecomm 24W. 2 m 

Brunswick 10W. 1014 

CAE 7% 7% 

Cotrotew 5 4A5 

CIBC 33 3X00 

0*1 PadflC Ltd 2416 24Vfe 

Canadian Tire A 114k 1114 

Cantor 2Wfc 21J1® 

Cara 395 1*0 

CCL Ind B 944 Wh 

anepku +95 SjOS 

Camlnco 23 224k 

Conwest End 2 4Pm 244* 

CSAMBl A 10M. 1DV. 

Dotoeco 2m 224k 

DylexA a» 

Echo Bay Mima 173* 17% 

Eautty SUvor A 083 082 

Feu Ind A 6 ft m 

Fletcher Otoll A 19 1980 

FPI 52k 59k 

Gaotro 0J4 0J3 

Gulf Cda Res 54* 54* 

Hoes Inti 134k 134* 

Hernia GtdAMnes 13% 134k 

Hollinger 1346 1346 

Horsham 30 

Hudson's Bov Co 27V7 271k 

391k 384k 
394* 39to 
284* 284k 
169S 164* 
2D4 20ft 
214* 2280 
84* BM 
54 5416 
119k lift 
2446 244, 
9V* Hk 
21ft 2280 
485 446 

2*ft 26ft 
12ft 12ft 

17ft 174* 
48 ft 48 ft 
13ft 1346 
l*ft 19W 
485 4.10 
31 30<A 
8ft 8ft 
058 ftS7 

.. 1*46 17JW 

Rmolssanc# Env 27ft 2746 
Roger* Comm B 23 22ft 
Rothmans 
Royal Bank Cda 
Scentre Res 


Inco 
1 PL Energy 
Jannock 
Lubatt (John) 
LotrtawCos 
Mackenzie 
Maona Inti A 
Mapte Leal Fas 
MartHme 
Mark Res 
Motson A 
Noma Ind A 
Horando Inc 
Naranda Fared 
Norcsn Entrov 
Nthern Telecom 
Nava Corp 
Oshawa Group A 
Poot/rton A 
Placer Dame 
Poco Petroleum 
PWACorp 


CO 


Shell l. 

Sherrm 
SHL Svstemhse 


Stolen Inc A 
Tollman Enr 
Tack B 

Thomson Corp 
TorDom Bank 
Torstar B 

Transalta Cora 

TransCda Pipe 
Triton FlnTA 
Trlmae 

Unlaxp Enentv 


77 BOjRO 
28ft 29ft 
lift lift 
8ft 8ft 
4446 43ft 
746 7ft 
431k 43ft 
12ft 12ft 
6ft 69k 
17ft 17ft 
lift lift 
6ft ilk 
30 3080 
23ft 23ft 
lift lift 
21V* 214* 
24ft 26ft 
1446 14ft 
16ft 1B4* 
485 *30 

15ft 1680 
180 180 


J^ndg^s. 


Zurich 

AdlalnflB 254 255 

Alusuisse B new 49* too 

BBC Brwn Bov B 1207 1210 
808 826 
552 544 
353 357 

1*15 1585 
3370 2285 
900 8 95 

710 710 

410 405 
1227 1230 
143 143 
1490 1490 
6090 5980 
11X50 113 

730 723 

7*50 7450 
947 9S4 

_ 2045 

Swiss Bnk Coni B 380 379 

Swiss Rri (BUT R 599 546 

Swissair R 880 874 

UBS B 1174 1167 

Winterthur B 690 493 
Zurich Ass B NA. 1275 

i nuT 


aboGeisvB 

CSHaimnasB 

EtektrawB 
Fiscner B 
IntordtocovnlB 
JelnxMl B 
Landis Gvr R 
Moovennlck B 
Nestle R 

Oertlk. Buehrie R 
PargesaHIdB 

Roche Hdg PC 

Sairo Republic 

SarvelitanceB 

BnkCora 


U.S. FUTURES 


VfaAiiariated Pteu 


Aug. 31 


Season Season 

High Low Open 

Mob 

LOW 

Dose 

o» 

Opjflt 


Grains 




WHEAT (CBOT) S.Uttbu rrtiWMn- toilers pwbuiAal 



X41Vv 

332 5ep** 359 

Uft 

159 

143ft 

* 034ft 

0042 

17« 

139 Ok 9* DS’w 

139ft 

174ft 

XT* 1 * 

-034 

47410 




182ft 


♦ 033ft 15.1*3 


116ftMov95 X74 

3L78ft 

174 

177ft 

► 033ft 

1JC 

US 1 /. 

111 All 95 151 

354 ft 

151 

163ft *0O2ft 

X187 




167 




164 

355 Dec 95 162 

164ft 

162 

164ft *002 

20 

Era. sous 30300 Tue's-sotes 30421 




Tue’S Open int 70 9W up 1119 





WHEAT (KBOT) ^JXnoumioJnxxTi- ooboriD^DuirtoJ 



179 

102 V> Sep 9* X76 

177ft 

171 

171 ft — 0.0* 

031 8 

183 

XI 2W Dec 94 X8I 

X84V, 

180ft 

X82ft 

4 031ft 2X659 







05*6 

X33V1 

121 ft May 93 174’.n 

ISO 

174 

176 

* 032ft 

707 

355 

XWftJul9S 150 

155 

X50 

364ft * 033ft 

883 

351 

129 Sep95 



156ft 

*QIDVi 

11 

X6Dft 

l»WDec*5 



344 ft 

‘033ft 

1 

E9. sates NA Tub’s. Sales 

115*1 





Toe's open «nf 3ft,i25 up US 









292V. 

114 Sep *4 2.19ft 

Z2I 

XI9ft 





2J3 

2Jlft 

Z2»*0O1 128623 


736 Mar 95 X31'A 

133 ft 

Ul 

U2ft 4 031 ’A 28636 

235 

JJI’.'iMOyTS 137te 

138ft 

2J7»J 

2J8ft +031 

11,465 


134ft Jul 93 1*1 « 

243ft 

141ft 

242ft *031 ft 11J82 


2J9 56P95 14 Ste 

245ft 

344ft 

245ft taoift 

897 

243 

2J5ftDec9S 247ft 

149 

X47ft 

XMft +001 ft 

5628 



X5*»i 

248 

269ft 







Tub's open iff 201,1*4 an *174 





SOYBEANS (CBOT! JJMOnu minimum, dnenr- 

DFTEkmri 









7J7V, 

5-51 Nov »* 549 Vj 

5349, 

548ft 

X73ft 

4 006 

77423 

734 

540 Jffl*S 577ft 

SJBVi 

X77 

X82 

♦035ft 1X687 


549 MO-95 546ft 

191ft 

XB6 

X91ft 

‘005ft 

5388 


575ft May 95 553 

197Vi 

192 ft 

197’k 

► 035 

3.733 


578ft Jul 9$ 598ft 

633 

X98ft 

*33 ft 

‘035 

7468 


579 Auo95 599 

633 

5« 

*33 


216 


577 SCRT5 



632ft 

*031 ft 

38 


578 ft Nav *5 633 

636ft 

632 

006 

‘033ft 

3610 


Jul 96 



016 -031 


Est soles 30300 Tue's. sales 7*399 




Tue’s open ail I19J2B off 276 





SOYBEAN MEAL (CBOT) laOrm-iMKni* 





17040 Sap 9* 17140 

17140 

17140 

17X20 

4 1.90 1X523 


ICTJflOraW 17040 

17140 

13040 

171.70 



16*70 D«e9* 171.50 

17230 

171 J] 

17240 

► UO 30347 


171JMJ019S 17250 

17X80 

17X30 

17170 

4 130 

6,58! 

30750 

17240 Mar 95 17540 

17640 

17540 

17030 

*190 

7J17 

70730 

17430 May *5 77640 

17730 

17080 

17740 

*1.10 

4J43 

30000 

175 JB Jul 95 17840 

17*40 

17830 

17*40 

‘1.20 

2432 

18230 

13650 Auo 93 37950 

18DJX) 

179 JB 

18000 

♦ 130 

181 


17050 5ea95 IHOO 

1W.B0 


18000 

*Q6D 


Era, sates 22300 Tue’s-sotes 7X983 




Tue'sopwkrt 83.07? up M 








3034 

2240 Sep *4 74 A0 

?4 9» 

3070 

7J.« 

♦ 023 10642 


2XIBOa*4 3078 

10*5 

20*4 

3093 

‘020 16352 

2837 

2X00 Dec 94 2*43 

307* 


2072 

►0.18 36,134 

3855 

2255 Jon 95 2452 

2067 

2443 

7447 

► 017 

0291 

2UB 

2X93 Mar 95 204B 




‘0.15 

6.723 

2BJ15 

2X92 May 95 34 JO 

2445 

3025 

2445 

► 010 

1984 








7730 

S2.95 aub *5 2003 

7023 

»JO 

3023 

►an 

4+8 

7*35 

3X95 Sap *5 



2010 

• 07* 

83 

XLIO 

2X1D0O9S 



2X80 

‘015 

1 

2150 

2X80 Dec 95 2X75 

2175 

2X75 

2X75 

*020 

2 

Est. sates 30300 Tuffs. ra*e 31,527 




Tue's open M 81360 art 1135 






Livestock 




CATTLE ICMERI ratal (ft.- 





7A10 






7*30 

67J0DK9J 69.40 

6*.70 

6*35 

6*37 

-0*8 10713 

7*35 

4730 Feb » 6850 

4837 

67 JO 

4735 

— S37 11J19 

75.10 

*940 Afv9S 7030 

LL1 





69 JO 

6640 Jun 95 67. 30 

LL ] 

6692 

6735 

— 037 

1374 


60*5 Auo 95 6080 

*700 

6075 

6080 


740 


0995 6740 


6740 

67.SS 




■Ldl 





Tue’s open Inf 74J18 uo *47 





FEEDER CATTLE (CMER) 

ujnbt'M 

oorto 



7535 


7530 

7085 

7437 

—O.A3 

X081 

BUS 


7530 

7445 

74JD 

-065 

3J1* 

6800 


70S8 

7X90 

74.9(1 

-045 

7434 


72.95 JfflH 7580 


7X42 





■7* VLJ mSaM 


7030 

7490 



7050 


7*30 

7345 

7345 

—010 

231 

7030 


7XJ0 


7390 


91 

7X05 

71 00 AUO 95 



7X00 


3 

Est. sates m Tin's, sates 

J54 





TUa'sepenhU 8348 uo 111 












38J0Ora*4 39 J0 




E'PIrP'I 

5050 


4003 

J9J0 

J9.45 



HUB 

MM Feb K 39.95 

4035 

39 JO 

3967 

E-t 1 

FdvI 

4U0 

3845 Apr *5 39X7 

»J7 

3897 

3X97 



4750 


44 40 

*W 

*4 IS 

-4» 

602 

45J00 

OJ5JUI95 £105 

jjm 

4430 

*010 


146 

4340 


4X15 

ADO 

4X15 

*0.08 

4* 



40.10 

3990 

4000 

-007 

34 



JOTS 

dim 

«J» 




4,122 





trii 'ii.i ■ ■ — 





PORKBCLUB (CMER) AUWBS- offs writ 



6005 

4140Fa*j 0150 

4335 

4X35 

4X93 

—1.93 

L949 

oOJfl 

406? Mar M 445s 

4077 

4X87 

4X90 

— IJ7 

453 

*1.15 


45*0 

4JJ0 


—MS 

74 

5400 

4X40 Jff *5 45.70 

4X70 

4440 





4245 AUO 95 *000 

*430 

4235 

4X90 


28 

1 s||. t, ^ ^ 1 1 <1- [• L r » 1 

1374 












Food 

COFFGSC INCSS1 XJUft-MiirA 

77*00 66JOS90W 21181 21*24 20580 
NUS 77.10 Dec 94 31750 331JS JI025 

36*00 7X90Mar95 22025 22X00 213JO 

3*480 &U0M<iv9S 22100 22400 21700 

24510 atOOJul95 22180 23 1 JO BIOS 

209 JC lixnsepft 

7*U0 01 80 Dec 95 22280 22280 22280 

Eg.staes Bjno Tu* i s.ssk 68H 
Tue'iopenlnt 32,990 vc 647 
sucar-wdrldu (MCSE) nunai-tMi 
1280 4J90ct94 1186 12.17 1280 

1X23 9.17MV95 1X08 1X34 1X06 


20X7! 

210.90 

21180 

71490 

21580 

21X25 

217.00 


—200 556 

—1*0 228*9 
—230 L3** 
-185 10*9 
-280 7U7 

-280 405 

-ISO 383 


1 Season Season 







Woh 

Low 

Oaen 


LOW 

case 

Off 

Oo.lrt 

1115 

1067 MOV 95 

1104 

1116 

12JD 

1115 

♦003 10283 

1108 

1067 Jul 95 

11.92 

1107 

11.92 

1107 

‘003 

0515 

11J1 

1067 ora *5 

11J9 

1131 

11J9 

11.92 

♦ 001 

1.582 

1160 

IOi88M<rW 

1160 

1160 

1160 

1161 

-010 

*8* 

1166 

1 1.18 May «6 




116* 

-010 

5 






11A 



Est sates 17310 TUe*0 sales 19 JOT 




Tue's open tel 127,2*3 

iff 2713 





COCOA 





1543 

1020 Sep « 

1285 

1308 

1285 

1305 

♦ 5 

24* 

1580 

1041 Dec 9* 

1346 

1369 

1348 

1357 

*1 41,908 

1605 

1077 Mff *5 

1389 

1410 

1389 

1400 

+ 5 11750 1 


1B7BMOV9S 

1*20 

1*34 

1420 

1*25 



1600 

1225 Jul 95 

1447 

1*47 

7447 

1447 


1*80 






1*67 



1633 

1290 Dec 95 




1*90 


0788 

1676 

1350 Mir 96 




151* 


1050 

16*2 

1225 Mr." 94 




105 


185 

Era. sales 7,560 Tue's-sotes 

11073 





Tue's open irt 70058 

UP 758 





ORANGE JUICE INCTNl 1J-C00U*.- 

arts pa 

lx 



13*60 

8005 Sep 94 

9260 

9160 

9100 

9105 

— UK 

2J08 

13400 

89.10Ncv9* 

9025 

9660 

95.10 

9095 

— 1J15 

9634 

1310a 

«XI»JanH 

10025 

10025 

9070 

9965 

—1.20 

4679 

12415 

96.50 Mar *5 

I03J0 

laxoo 

10110 

1(075 

—070 

2681 

11025 

9760 May 95 10050 

10010 

10050 

10565 

—160 

855 

11*00 

10160 Jul 95 

10000 

13000 

10000 

10000 

-095 

470 

11X80 

11160 Nov 95 




11195 

+065 

291 






I1X*S 



11260 

nun 50096 

11160 

1U» 

U1JU 

11160 



Est. sates NA. TWtsffes 

550 





I Toe's open Int 








Metals 


HI GRADE COPPER (NCMX1 3X0M to-wnpvc 
116.90 74.90SCP 94 11X60 116J0 114 JW 114J0 

7SJSDec94 11580 11X90 11410 11X75 
76.90 Jon 93 11X00 11580 11X00 11X30 
71MF0b95 11**0 

7X01 Mar 95 11175 11480 11280 11430 
76.85 May 95 113 JO 

7880JUI95 11230 

79.10 Sep 95 111 JO 

7X20 Oct 95 11620 11670 11470 11615 
77.75 Nav 95 11X00 11X50 10X50 11X95 
BB.OODec9S 11X75 11175 115JS 11655 
8650 Jan ft 110 70 

6X70 Mar 96 10985 

91 .» Aar M 11X80 

May 96 109.40 

1 0630 Jun 90 11280 

Ed. 30693 lifflffl Tub's, talas 64*3 
Turt oaen iff 47800 art 900 


11X20 

11X30 

HUB 

11X70 

111.40 

11280 

116B5 

11585 

11130 

H980 

10080 

10580 

11040 

107 JO 


* 280 8,973 

* X30 29.134 

+ 2J0 422 

* 235 372 

►XI S 1214 

► 115 1.074 

► 115 918 

►115 653 

►X40 1.001 


-135 
*•115 
-115 
►XIS 
*115 
► X15 
■*115 






6100 

*9305*09* 


5*5 U 

S3 SO 


5176 

SiiJOa** 




5405 


NOV 9* 





5976 

3800 Dec 94 

5415 

Wlfl 

542J 

SJU 

5600 

MU Jen 95 

5460 

SSLS 

5*60 


<000 

41 05 Mar 95 

von 

5600 

5SL0 

5597 



5*50 



6100 

420OJU9S 

5676 

57X0 

SOS 


57X0 

53215 Sep 95 

5750 

5750 

S7SJS 


6300 

s»0Dec*s 

5810 

3810 



<110 

5700 Jan 94 





6100 

5540 Mar P* 





587 J) 

5B70Mav*6 




60X6 


Ju(94 5098 

Est.saHs ZXffiffl Tw'iuta 3*8*7 
Toe's men inr m 767 oft 938 
PLATINUM (NMER) BlravoL-dAnEMr rrwu. 
00600 JOHOaSnoM 4 1480 

*35.40 monoraw 41100 4T7J30 41280 41 530 

43580 37*80 Jen TS *1480 41980 <1600 41880 

43900 JtoM Aor 95 *20J0 <2380 42600 42140 

42780 4N80 Jill 9b <2190 

«31-ffl <128000 95 <26*0 

Est. sales NA. Tus'x solas 284* 

Tue'sotwnlnt J6W0 off 17 

GOLD (NCMTO mirwoi.-dotanpf'irmroa. 

3R9 0a 37780 Sea 94 37880 37080 37880 38630 

41780 3*480 Oct 94 387 JO 38640 38620 38780 

Nan 94 389 JO 

43650 3080 Dee 9* 3903a 391 A0 3*980 MB( 

41180 36X50 Feb 95 39180 304J0 29X40 39600 

417JU 36* 80 Aar 95 37730 

«S88 341 JO Jufl 95 40X10 40180 JXLI0 *k« 

41X50 38080 Aug 9S 40610 

«!3^S AIIJD0 Off 95 SffM 

479.00 .‘yUODtc95 411^0 

42480 41280 Feb 96 4ixjo 

43000 418J0Apr« 41980 *19 JO <1980 <1980 

<30X0 41300 Jm 9* jrion 

Est sales 3S800 Tue'x soles 21876 
Tue'saDenH 156+76 uo 1115 


*73 6980 

♦ 7^4 5 

*73 81 JM 
*72 42 
►7.1 Sr® 
*73 3.9*5 
*7J 38*3 
►7 A i^sn 
-75 9.197 
*78 

♦ 78 
*73 
*78 


► 180 1 
' 180 17.518 
♦110 6986 

► X10 1,93) 

► 2JQ 
-280 


♦ OJO 689 
«JI9 

8JJ47 
1X298 
—0.10 *887 
— 0.10 10.115 
—0.10 6938 
—0.10 1X23 
-0.10 5,206 
-0.10 
— 0.10 

-0.10 3J40 


Financial 


9X37 ►XOI 1X759 
9684 lOJfl 

9454 3861 

9625 * 0X2 53 


US T. BILLS I (MB!) 41 rtSon-Haor UOaa 
9648 96£3SeoM 95J7 9SJB 9134 

9610 MJSDKV MM MiS WJJ 

9X05 0.98 Mar 9S MJi 948* 9483 

9434 9616 Jun 95 

Ett soles NA TUe’X saw 2J09 
Tim's anon M 27X54 oH 25* 

5 VR. TREASURY (CBOT1 (laucseMr-mcjOnaff nau 
110-195152-12 Sep M 104-21 1U-25 104-10 104-25+ 045 11X947 
104-18 101-26 Dec 9* 103.22 134-00 101-34 104-00 ♦ 05 54,718 
102-25 102-20 MarfS 103-10 * 05 

EsLtffes 52.000 Tue'xsriH 67333 
Tub's osen Iff 17X665 ra 2758 

I8YR. TREASURY (CBOT) 4UIM»i>rM-ff»&3tauff igaso 

115- 01 IDI-IB sea 94 105-00 I0S-09 10*- 27 lay** ♦ 08 15982} 

"4-H 100-25 Dec 94 109-31 104-07 103-25 IQ*-07 * OS l<rL40J 

Hl-07 100-05 «kr»Sl 02-30 103-10 102-30 103-10 * ~ 

109- 22 99-20 Jun 95 102-16 > 

101-06 100-17 Sea 95 101-26 ► 

Ed. solas NA Tup’s, sales 12L79J 
Tua'sepenlnl 263J17 up 9118 

US TREASURY BONDS (CSon fflW-noajWMyillartiollMpa, 
H0-2S 90-12 S6PMI03.II 103-25 101-02 103-23 i«i 

110- 00 41-19 DttM 102-23 102-31 102-08 102-29 * S 204 «* 

116- 20 90-20 Mar 95102-00 102-07 101-18 IB246 + - - -- 

115-19 98-17 Jun 95 101-07 101-16 100-79 101-14 + 

112- 15 0-28 Sep 95 100-20 100-27 100-10 100-27 * 

113- 14 97-14 Dec 95 100-01 KXME 99-26 100-08 ‘ 

114- 06 90-21 Mor » 99-10 99. 79-la 99-23 - 

100-20 94-13 Jun 96 99-08 ♦ 

Est.sffes 350X00 Tue'x tales 306591 
Tue'ieoraM 442,130 up 4083 
MWjKmU-BONDS (CBOT) Mqq0.ft to -«« # ,B n8 i BIIOOo - 1 
W-17 to-13 91-1? 91-00 91-16 “» UCT8 

91-17 87-21 Dk 94 90-05 90-17 89-28 90-14 + TO iSn 

Estates 5X00 Tue'x «*n <8« 10 Mi0 

TiWiaoeniff 21J2B ue 75 

JEUmOOLLARS (CMER) UniltaMnfflHaa 

9XS70 90J60S«pf4 96950 9*960 969S0 94.950 ^ 


479 

3 


6^08 

<98 

159 

37 

*3 

24 


Season Season 
High Low 


Open Htoh Law Ckne Che OpJnr 


9X100 90710 Dec M 96290 96310 96280 96300 ♦104>7.1<2 I 

9X500 902*0 Mar 95 96030 96050 96100 96040 *1030600 } 

*6730 90710 Jun 95 9X700 91730 93X90 91720 *2925X545 > 

96850 91JIDSeo9S 91430 91450 9X410 9X4« ♦2D231>04 * 

96280 91. 1 B0 Dec 94 9X140 91140 91110 9X150 » 30157.371 * 

962» 90750 Mar 96 9X0U 9X0*0 9X0*0 9X080 *30134844 ■ 

9X180 91620 JUn 96 *2.9*0 *2.970 92920 92950 *80111435 . 

Est. soles NA Tim’s, sates 190.779 
TIM'S Open H 276271* UP 14477 

BRITISH POUND (CMER) iptrpnff-inWwuUKpiMI 1 

18764 14*40 Sep *4 18356 1.5374 1JS332 183*6 *4 31454 

1 J60 14500 Dec 94 18310 18356 18310 18U4 +4 I.M 

18720 14640 Mir 96 18790 18310 182*0 182*4 *4 1*8 

Brt.sffcs NA Toe's. sates 6XM 
Tufsaaeniff 35412 us ttm 


CAN AMAN DOLLAR 



07740 

07068 Sec W 

07302 

07315 

1727» 

073M 

♦13 30914 

07670 

07038 Dec9* 

07284 

07102 

07265 

07300 

♦ 10 

06*9 

07605 

07020 Morn 07245 

07285 

07250 

07237 

+/ 

99B 

07522 

06990 Jun 95 

07250 

07260 

07230 


♦ 4 

385 

07250 

06965 Sen 95 




07236 

*1 

n 

07125 

070*0 (tec 95 




07308 

—0 



Est. sates NA Tue^. sates 6021 
Tim's open Iff *6063 up a 

GERMAN MARK (CMER) spwmonc-1 oowtHuaununi 
1-55*5 0-5400 Sep 94 08342 08357 B431B 08324 -209BJ7* 

08606 0.5550 Dec *< 08345 08148 0831* 08325 

08595 05980 Jun *5 08342 

S.649J 08147580*5 0.4351 

UA999 0 8810 Mar % 06335 08X35 08X15 08333 

Era. sates na Tim’s, sates 4*895 
Tim's oaen Iff HS .j'O all 4091 

JAPANESE VEN (CMER) spm._. 

ojiofflffioo8y<2sep*4 xoi 005000 1 moaa»*«9ajx»799 
201 M90X0D9575DCC 9400101 00001 010008100580010066 
O_0]D67flL0(J977dJiin 95 0810221 

001 07795810200540 95 001029? 

ajl0S4aLDO9*aVAor 96081 0140001014500101330810138 
Era.Mdes NA Tub's. sates 20057 
Tub's open M nxm up 1550 

SWISS FRANC (CMStl 1 Mr tarn;- 1 noinloawta JMJ01 

0W7 08600 Sep 9* OJS30 07539 0J4B OJ508 -7* 37J49 

IL7B40 08005 Dec 94 27338 0JS44 0J5T5 07520 -3* S^< 

07800 0.7466 Jun 95 07563 —2* 

07820 07420 Mar 96 07542 —34 40 

ga.Mles NA Tim's. ides 20066 
TWs open Inf 42.930 OW 435 


-sujn ■ 
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—30 * 

-90 2886 


—61 5IJB0 
10877 
274 
43 
1,714 


7075 Sep 94 




6951 

59 J1 Off 94 

7000 


69 JO 

6956 

59.48 Dec 9* 

6805 

69.17 

6072 

6856 






60OPMO/95 71. TJ 


7055 

709/ 


71 A) 


7150 

7TJ0 

60800095 




6045 

6025 Dec 95 

<9.15 

69.15 

6065 

6875 


Industrials 

amtMajNCIN) nmiH-aniMk 
7075 
7880 
77.25 
7015 
7055 
78JS 
700 

7180 

Era. sates NA Tim's, sates 7J*8 
Tuescrasnlnf 52021 oft isifl 

HEATING On. INMCR1 4U0Q««-arAIPVO8l 
ra.17 4X80AUO94 4880 49J5 4880 4050 -BIB 8^0 

57 JO 44.90 Off 94 49.10 SUM 4X94 49331 *032 3980 

5X30 *6-00 Nov 94 SUM 5180 5000 50.00 *037 19.1*2 

S-SS SUB 5210 57.00 SUM *0J2 

623S 433SJOTI9S S1JI STAS SIJ5 5180 *6AZ W.S6 

OJ5 47.95 Feb 75 5255 5295 5290 SLS3 *082 *829 

S-S 2-2S Wlor95 n -« S>-“ *1.05 *087 6JE 

SU 51.20 5130 5130 5130 *097 2719 

< J^0Moy« SL50 5CL50 50 JO 50.50 *087 2466 

SLM MJVJunM 5030 5030 5330 5030 *087 585Z 

«rj»A*ira 50JD 5X45 50.15 5015 *062 

&L sales na Tup's, sates 30419 
TIM'S OP ffl iff 

LJ»fT SWEET CRI^IE (MMER1 18(9 Off.- OoftnPtrMH. . 

2033 14A5pra«4 1787 1785 T732 1786 *011 9XX0 

2089 1482 Nov *4 1782 1788 1784 17J7 -** 

2080 — — 

19AS 
1080 
2046 
1*80 
1934 
mm 

19JB7 
19JJ7 
18.12 
19.1T 
1*86 
2089 
21.15 
1884 

U80 
2080 
1840 


its i? 8B 1784 1787 -0.04 EJ65 

1493 DiC 94 1788 17.91 1784 17JS8 *002 47,906 


IZ- 41 17-9* 1739 17.0 sawa 

IX»fe0 95 17J9 17.95 I7J* 17J8 -001 19823 

5^ Mar 15 1733 17.92 17J9 17J9 -001 ISJJf 

,7JD I7« 17.70 1780 —002 *860 

'M»MOy« 1786 1786 1782 -a(C 9J« 

IfS-SSlE V* 1 W8I (784 —004 22453 

1734 1784 1736 1786 —005 7815 

16.16 Aug «5 178? -4L05 

II-SSSS ,7J * l7 - w I 7 - 7 * 1731 -005 

16420095 17 73 —005 

17. 15 Nov 95 T73S — (UM 

lUODKto 1881 HUB 1885 1738 -00615.965 


30878 


1785 Jm 96 
1889 Feb *6 
17. IS Mai?6 

1733 Jun 96 
■- — . 1 039 Sen *6 

§*.!** ?**• Tim's, sates 82*73 
TWiooenlni 

IffAEADSGASOUNE INMER) 

8185 -. 

57.90 „ 

<235 Nov 94 4885 49,10 asms 4210 

50 BO Dec 94 5*35 5X30 S*35 SX05 -u.ia 

**■“ «-lS 54.15 5485 *035 SSfl 

__ 51-IOFebff 534a t n« inn 

grtsotes na Tue’x soles 2480 
TIM'S Open Iff 


5580 

6035 

5880 

5085 


1781 —087 

1784 -087 
1787 -087 _ 

1786 —089 1LM4 
1X11 -089 


kvuhulwc IMMtK] OAOl+iMinw 1 - 

4X90AU094 5010 51X 4780 5038 —032 7J0 
S'kSS.u M «32 —032 1S8T1 


Stock indexes 


S0PGOMP.INOEX (CMER) BOsinnw 

2*^2 5&5S*?. SM3 55^ <7*j» 47410 -xasiBr.i* 

JS-W ^-70 Dec 94 47180 48095 47L50 47075 —21547,120 

«80 441. 45 MOT 95 48130 48410 «0DO 48000 Z? ” - 

5 45180 Jun *5 48X05 48780 48X10 4^40 -3 

e&saes NA Tim's. «las KUS 
TWsoneftiff 242,337 up 1580 

gs sss&s s ss sss a 3 

gs m53jKT« 24450 ^ ^ 5SS J 


Moody’s 
Rouiers 
DJ. Futures 
Com. Research 


Commodity Indexes 

Ctose 


&WU0 

155J6 

231JB 



'■9c'; 










INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 1, 1994 


Page 13 


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Compiled fy Oar Staff From Dispatches 

ZURICH — With its net 
profit set to fall this year. Swiss 
Bank Corp. is trying to secure 
future earnings growth with the 
$750 million purchase of Brin- 
son Partners Inc., a U.S. asset 
management company. 

Georges Blum, the chief ex- 
ecutive of Swiss Bank, said 
Wednesday that the Brinson 
purchase ‘‘fills a strategic gap.” 
The Swiss company had long 
sought to strengthen its global 
asset m ana ge ment business, he 
said, and had looked for a part- 
ner in the United Slates, the 
biggest and fastest growing 
market in this area. 

“It enables us to make a quan- 
tum leap in a segment of the U.S. 
market where an organic build- 
up of a comparable position on 
our own would hardly have been 
feasible,” Mr. Blum said. 

After the acquisition, he said, 
Swiss Bank would have 65 bil- 
lion Swiss francs ($49 billion) in 
institutional assets under its 
management 

Analysts welcomed the pur- 
chase. saying that Brinson 
would provide a counterweight 
to Swiss Bank's volatile trading 
business, which last year led to 
record profits but has hurt its 
performance this year. 


The banking company’s 
shares edged up to 380 Swiss 
francs from 379 francs. 

“Asset management provides 
more stable income," said $u- 
sanne Borer, a financial analyst 
at Bank VontobeL “Investors 
value commission income more 
than trading or interest income.” 

Swiss Bank’s net profit fell 36 
percent in the first naif, largely 
because of a 63 percent drop in 
trading income. The bank said 
Wednesday it expected a lower 
profit in 1994 than in 1993. al- 
though it was “cautiously opti- 
mistic” about the second half. 

Swiss Bank also predicted 
“better results” in 1995, when 
trading revenue should increase 
and cost-cutting measures, es- 
pecially in Switzerland, should 
start having an impact. 

“It is unlikely that the drop in 
first-half profit can be made up 
at this stage; and we expect re- 
sults for the full year to be be- 
low their record 1993 level,” 
Walter Frehner, the chai rman 
of Swiss Bank, said in a letter to 
shareholders. 

Swiss Bank said it would not 
sell new shares to fund the Brin- 
son purchase. A large part of 
the payment will take the form 
of Swiss Bank bearer shares. 

(Bloomberg, AFX) 


Italy’s Pension Pledges Come Due 

Berlusconi Says Obligations Could Bankrupt Nation 


By James Hansen 

Special to the Herald Tribute 

MILAN — The creaking of a failin g 
pension system, a sound that can be 
heard in every Western country, is a roar 
in Italy. 

According to Prime Minister Silvio 
Berlusconi, the country must “restruc- 
ture this area to avoid bankruptcy or not 
be able to pay pensions at alL” 

The slate has made promises it cannot 
keep about pension coverage. Now. sav- 
age cuts appear unavoidable, especially 
if the government is to come to grips with 
its budget deficit of more than 5100 
billion and accumulated debt of more 
than S1.1 trillion. 

The Italian health, labor and finance 
ministers met Tuesday to discuss pen- 
sion reform, but fear of a political back- 
lash limited their action to a painless 
series of minor measures aimed at curb- 
ing fraud. 

Apart from a decree extending a tax 
exemption for investment in private pen- 
sion plans until February 1995, ministers 
have so far decided not to decide. The 
question has been sent back for “further 
study” at the technical level. 

Among measures known to be under 
consideration are an end to what are 
known as “baby” pensions, which are 
granted to civil servants after as little as 
15 years’ service and are under attack as 
too generous by those who cannot aspire 
to receive them. 

It is also likely that action will be 
taken to reduce cost-of-living indexing 
for pensions and to speed up the rise in 


the retirement age to 65 from 60 for men 
and to 60 from 55 for women. 

The government is to outline its recipe 
for dealing with the pension crisis in a 
fiscal reform package promised before 
the end of September. 

Whatever happens, radical solutions 
are not likely. Treasury Minister Lam- 
beno Dini, on leaving "Tuesday’s meet- 


f About a third of our 
invalids turn out not to 
have any invalidity.’ 

An Italian Treasury official. 


ing. said that for the moment, govern- 
ment action sought only to block the 
“exponential growth" of pension costs, 
not to actually reduce them. 

Particular attention is being focused 
on the cost of civil disability pensions, 
which has risen 50 percent in just two 
years. Agencies of the Italian govern- 
ment dispense more than 6.9 million per- 
manent disability pensions — one for 
every eight people in the country — and 
a further 2 million applications are on 
file awaiting approval. 

Many of these pensions have more to 
do with loyalty to particular politicians 
than with genuine disability. A Treasury 
official said spot checks had shown 
“about a third of our invalids turn out 
not to have any invalidity." 

If so. that would be fraud on a grand 


scale, costing the pension system more 
than 512 billion a year. 

A Treasury undersecretary, Antonio 
RastreLli, has talked about proposing an 
amnesty that would seek to get the false 
invalids off the rolls by forgiving past 
fraud in exchange for their giving up 
their pensions. 

Counting disability, retirement income 
and survivors’ benefits, it is estimated that 
as many as one Italian in three receives 
some kind of pension, at an annual cost of 
around 232 trillion lire JS145 billion) — 
about 15 percent of the gross domestic 
product, according to the Parliamentary 
Commission on Public Spending. 

Moreover, data from the Or ganisa tion 
for Economic Cooperation and Develop- 
ment indicate the value of matured pen- 
sion rights in Italy is 2.4 times the GDP, 
the highest such ratio among the Group 
of Seven industralized countries and 
twice the American figure of 12. That 
means the hole the system has dug for 
itself is unusually deep. 

The Bank of Italy calculates that the 
capitalization of a hypothetical fund to 
meet these future payouts would require 
half of the country's entire wealth. 

Although Gianni Letts, Mr. Berlus- 
coni’s chief of staff, has said that “no 
existing rights will be touched" by pension 
reforms, attempts to gel in under the wire 
have triggered a “flight to retirement" 
among public employees, especially 
teachers, of whom more than 70,000 have 
asked to leave their jobs between this year 
and the nexL Teachers in Italy are poorly 
paid, but their pensions can equal as much 
as 95 percent of final salaries. 


Investor’s Europe 


Frankfurt 

DAX ‘ 



London. 

FTSE 100 Index 

3400 — ' ' 

3300 

- m 

3100 
3000 


' A M i J A 

1994 

Exchange ' inde x 
Amsterdam ADC ■ . 



ifirTXS 

1994 


M’ A rJt j J A’ 
1994 


Wednesday Prev. % 

Close Close . Change 

419.44 421.00 -OB7 


Brussels 

Stock Index 

7,64646 

7,63876 

+0.11 

Frankfurt . 

DAX 

2^12.35 

' 2,210.65 

+0.09 l 

Frankfurt 

FA Z 

B32J94 

831^4 

+0.12 J 

Helsinki 

HEX 

1^56.07 

1.934.43 

+isss ■ 

London 

Financial Timas 30 

2.535.00 

2.539.90 

-0.19 , 

London 

- FTSE 100 

3^51.30 

3.249.60 

+0.05 

Madrid 

General index 

312.51 

313.51 

-0^2 

Milan 

MIBTEL 

10985 

11010 

-0.23 

Paris ' 

CAC40 

2,069.08 

2,060.37 

+0.42 J 

Stockholm. 

Affaersvaericfen 

1,911.42 

1,914.32 

-0.15 1 

Vienna 

Stock index 

463.43 

462.34 

+0.24 

Zurich 

SB5 

940^7 

937 39 

+0.31 'l 

Sources. Reuters. AFP 


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Strong Franc Flattens 
Profit at CibarGeigy 


Bloomberg Business News 

BASEL, Switzerland — 
Ciba-Geigy AG on Wednes- 
day posted a slight 03 per- 
cent increase in first-half net 
profit, to 1.42 billion Swiss 
francs (SI billion), and said 
the strong Swiss franc had 
eroded earnings. 

Operating profit climbed 
19 percent in local curren- 
cies, the drag and chemical 
concern said, but rose only 3 
percent in Swiss franc terms, 
to 2.00 billion francs. 

Analysts were disappoint- 
ed at Ciba’s apparent failure 
to hedge its foreign-currency 
exposure, as well as by its 
falling sales of industrial 
and agricultural chemicals. 

/ “We were given a promise' 
that this company was hedg- 
ing everything," said Peter 
McDougall, an analyst at 
Barclays de Zoete Wedd in 
London. “They can’t give 
me 19 percent on one band 
and 3 percent on the other. 1 
can't support the share price 
with data like that.” 

But Ciba’s treasurer, John 
Manser, said fully hedging 


against currency losses would 
have imposed an “unaccept- 
able cost,” especially consid- 
ering that market forecasts 
before the period began were 
“very bullish on the dollar." 

Investors punished the 
shares, pushing Gba’s bearer 
shares down 18 francs. 

Ciba said the weakening 
of major currencies, apart 
from the yen, against the 
Swiss franc had t rimm ed 
earnings by about 300 mil- 
lion francs. Sales fell 2 per- 
cent in Swiss franc terms, to 
11.64 billion francs, but 
were up 3 percent in local- 
currency terms, while total 
expenses fell 625 percent 

The company also said 
^unfavorable conditions” in 
the financial markets had 
caused investment income 
to fall to 82 million francs 
from 90 million francs. 

Ciba further disappointed 
analysts by saying the ques- 
tion of whether full-year net 
profit would match gains in 
operating profit depended in 
part on the financial and 
foreign-exchange markets. 


Swedish Drag Profits Beat Expectations 


Compiled by Our Staff From Dispatches 

STOCKHOLM — Two 
Swedish drug companies report- 
ed higher-than-expected in- 
creases in first-half profits, with 
Astra AB attributing its 22 per- 
cent increase to rising sales and 
Pharmacia AB saying its 66 per- 
cent gain was due to cost-cut- 
ting 

Astra posted a pretax profit 
of 4.5 billion kronor (S582 mil- 
lion), up from 3.7 billion kronor 
a year earlier. The company at- 
tributed its profit increase to 
strong sales growth in Britain, 
Italy and Germany. 

Sides rose to 13.33 billion 
kronor from 1036 billion a year 
earlier. 

Higher sales came from the 
anti-ulcer agent Losec and the 
anti-asthma medicine Pulmicort, 
which outstripped overall mar- 
ket growth in most countries. 

“Adjusted for currency move- 
ments, sales growth was 23 per- 
cent, which means that Astra's 
sales in most countries increased 
at a much higher rate than the 
total market, with strengthened 
market share as a result.” 

Astra said total sales were 
expected to increase at a faster 
rate than the total market for 
the rest of 1994. 

“Accordingly, the favorable 
trend for group sales and earn- 


ings is expected to continue, al- 
though not at the same rate as 
in the previous year,” said Ha- 
kan Mogren, president. 

Pharmacia said cutting costs 
and reducing staff lifted first- 
half pretax profit to 2.66 billion 
kronor from 1.6 billion kronor a 
year earlier. It also announced a 
far-reaching management re- 
structure aimed at m akin g the 
company more competitive. 


First-half sales rose to 13.7 
billion kronor from 13.43 bil- 
lion kronor a year earlier. The 
biggest market for Pharmacia's 
products is in Japan, where 
first -half sales increased by 15 
percent to 2.3 billion kronor. 

Pharmacia was formed last 
fall in the split of Procordia AB 
into two separate units. Pharma- 
cia took over Procord ia’s drug 


More Sales Lift MoDo Profit 

Ctmpikd by Our Staff From Dispatches 

STOCKHOLM — Mo och Domsjoe AB, the Swedish paper 
producer, returned to profitability in the first half as sales and 
paper prices increased and costs were restrained. 

Mo och said it earned 471 million kronor (56 1 million), revers- 
ing from a loss of 319 million kronor in the 1993 first half. 

Sales rose to 9.43 billion kronor from 8.43 billion a year earlier, 
mainly because of an increase in paper and pulp prices. 

The company kept operating costs under control by reducing its 
average number of employees to 11,206 from 1 1.414 in the last 
half of 1993. Net financial costs were reduced during the period, 
to 438 million kronor from 596 million kronor a year earlier. 

Operating profit rose to 909 million kronor from 277 million a 
year earlier. The operating profit includes a one-time charge of 
140 million kronor for damage at its paper mill in Alizay. France, 
and a 215 million -kronor provision for a fine from the "European 
Union for restrictive trade practices. 

Also on Wednesday, Svenksa CelluJosa Aktiebolaget .AB. an- 
other Swedish forestry company, said its first half pretax profit 
jumped 88 percent, to 1.08 billion kronor, on a rise in sales and 
falling interest payments. ( Bloomberg AFX l 


business, while Branded Con- 
sumer Products AB took over its 
food and tobacco operations. 

Pharmacia plans to restruc- 
ture and reduce the number of 
businesses wi thin which it oper- 
ates to seven from 10 to better 
use its technology base in re- 
search and development and 
production without having to 
restructuring larger units, it 
said. (Bloomberg Reuters) 

■ Skansta Profit Soars 

Skanska AB. the Swedish 
metalworking and construction 
company, said its pretax profit 
increased 30 percent in the first 
half, led by stronger export 
sales, news agencies reported 
from Stockholm. 

Skanska posted pretax profit 
of 132 billion Swedish kronor, 
up from 1.17 billion kronor a 
year earlier. 

Earnings were boosted by 
gains on property sales. In the 
first half, Skanska made a gain 
of 234 million kronor, com- 
pared with 37 million kronor a 
year earlier. 

Skanska said its sales in- 
creased to 15.71 billion kronor 
from 15.24 billion. Rising inter- 
national sales offset a drop in 
Swedish building activity. 


d 

• BaJtica Forsikring AS, Denmark's hugest insurer, said its net loss; 

shrank 17 percent in the first half, to 52 million kroner iS8.3a 
million), from last year on cost cuts and lower payouts. S 

• VNU NV, the Dutch publisher, said its nei income rose 34* 

percent in the first six months, to 78.7 million guilders (S43.7T 
million), supported by acquisitions in the United States. e 

• Royal BolsWessanen NV share prices tumbled 10 percent, to J 
36.9 guilders, after the Dutch food-and-drink company said a 
slump in beverage sales knocked first-half down profit 7.8 per- 
cent, to 110.2 mfllion guilders ($61 million). 

• Russia’s ruble dropped 2 percent against the dollar, which rose lci> 

2,197 rubles, on Wednesday. It was the sharpest one-day fall since 
February, after the Central Bank of Russia stopped intervening tcP 
support it. ** 

• British Telecommunications PLC said it would trim prices for 

long-distance telephone calls within Britain 25 percent. BT's main 
competitor. Mercury Communications Ltd., said it would match 
BT's cuts. i 

■ Sotiete Generate de Belgique SA, Belgium's biggest company,-, 
said it would post a one-time, first-half charge of 300 million* 
Belgian francs ($9.2 million) for losses in bond trading. i 

• British Steel PLC, the Usinor-Sacilor unit AG der DiHinger 
Huttenwerke and the Mannesmann AG unit Mannesmannrohren- * 
Wertoe AB are in talks over a possible venture in the field of large- 
diameter welded pipes. British Steel said. 

p. inters. AFJC 


Gencor Makes Coal Deal 


Bloomberg Business News 

LONDON — In its second 
major strategic move in as many 
months, Gencor Ltd. will merge 
its South African coal interests 
with those of Rand Mines Ltd. 
to create the world’s third-larg- 
esl coal production company, 
the companies said Wednesday. 

Gencor's Trans-Natal Coal 
Corp. Ltd. and Randcoal Ltd. 
will form a new company with 
assets of $13 billion, including 
14 South African mines. 

In July, Gencor agreed to ac- 
quire Royal Dutch/Shell 
Group’s Billiton metals and 
mining assets for $1.22 billion. 
The acquisition largely consist- 
ed of aluminum assets. 

The merger of Trans-Natal 


and Randcoal would give Gen- ' 
cor a 50.1 percent controlling ( 
interest in the new company at. 
a time of rapidly increasing de-* 
mand in Asia. The new compa- ' 
ny has not been named yet. ' 

Rand Mines, following a 
stock swap between Trans-Na- 1 
tal and RandeoaL will have a . 
46.1 percent stake, with the rest' 
held by major pension funds. 

Rob CroU. a mining analyst' 
at Frankel Pollack Vinderine in ' 
Johannesburg, said the merger' 
would give South .Africa “the 
ability to compete on a quality^ 
basis and improve margins on- 
exports." He added that the- 
company would have combined 1 
annual revenue of about 3.4 bil- 
lion rand <5947 million). 


NYSE 

Wednesday's Closing 

Tattles Include the nationwide prices up to 
the closing on Wall Street and do not reflect 
selaewh 


late trades) 


vhore. Via The Associated Press 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 1, 1994 


Page 15 




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tf CS Money Market Fdt t 

tf Credis SmIHMid Cm SwilzlSF 

tfCSEo Ftf Emerg Mkts S 

tf CS Eq Fd Lot Amertcn S 

d CS Ee Ftf Smell cop Eur— DM 
tf CS Eq Fd Small Cap USA—S 

d a edit Sum Ftfj mtt SF 

tf CS Euro Blue Chips A DM 

d CS Euro Blue Olios B DM 

tf CS Fiww Fuad A FF 

tf CS France Fund B— FF 

dCS Germany Fund A DM 

rf CS Garmcnv Fond 8 DM 

tf CSGoWMkiesA S 

tf CS Goto Mines B S 

tf CS Gold Valor S 

tf CS HlSPOno Iberia Fd A_Pto 
tf C5 HhPOno Iberia Fd B Pto 


97X5 

1349X5 

1249X1 

147220 

16*7.13 

14358 

14*16 

12*2950 

24254 

1845) 

14126 

1438X3 

«7J4 

4950X0 

ran 

206X9 

16054 

144X1 

1*5X3 

1038X0 

986274 

995526 

24959963 

1*18809 

1*94498 

1481.98891 

1655849 

11X4652 

102881 

134*23 

125*95 

1017.27 

992X4 


tf CS Italy Fund A. 
rf cs Holy Fund B. 


JJi 


Ut 


tf CS Japan AUpgatreod SFR— SF 
tf CS Jmo Megatrend Yen — Y 

a cs Neihertandi Fd A FL 

rf CS Nettwriands Fd B FL 

tf C5HorB>AmcrlconA S 

rf CS NortVAmerlcon B 5 

tf CS Oeko-ProlecA DM 

tf CS Qcko-Prolec B DM 

tf CSTtaerFu 
a CS UK Fund A. 
tf CS UK Fund B_ 
rf Eitenito-Voior. 
tf Eurnaa Valor . 


27824 

28^’ 

3814050 

m 

Tiazxuo 


tf Pacific- vato . 

0 SctiwefzeroMtan-— 4F 

tf Bend Valor D-Mark DM 

tf Boatf volar Swt SF 

rf Bond Voior us - Dollar 5 

rf Bond Voter Yen. 


Lit 


tf Bend voior cstorttog r 

tf Convert Voior Sort . JS 
d Convert Valor US- DeUar-S 

tf convert Valor c Sterling a 

tf Credit Swhi Fes Bds ■ 

tf CS Bond Fd Ure A/B 

tf cs Bond Fd Peseta A/B_ 

rf Cs Capital DM1997 DM 

tf CS COPHOl DM 2080 DM 

tf CS CaPttai Ecu 2000 Ecu 

tf CS Copltm FF 2000 FF 

d CS Capital SFR 2008—— SF 

rf CS Ecu Bond A Ecu 

rf CS Ecu Bond B Ecu 

tf CS Europa Bond A DM 

tf CS Europe Bend B DM 

a CS Fired 1 Dm 8V 1/94 DM 

tf CS Fixed I Ecu 8 1/4% 1/96-Ecu 

d C5 Flxvd I SF 7% 1/94 SF 

a CS FF Bond A FF 


HS ^ 


tf CS FF Bond B. 


-FF 


tf CS Gulden Band A. 
rf C5 GofOer. Bond 8. 
tf CS Prime Bond A. 

d CS prime Bond B- - 

tf CS Short- T. Band DM A DM 

tf CS Short -T. Bond DM 8— DM 

tf CSSIrort-T-BandlA 1 

d CSShort-T.BondSB S_ 

tf CS Swiss Franc Band A SF 

tf CS Swiss Frm»C Bond B SF 

a CS Euroreai DM 

CREDIT AGRICOLE 
INOEXIS 

tf Inde'ls USA/SAP 500 S 

tf Indexb Jaoan/Nlkkri Y 

rf Index Is G Bret/FTSE- 


d IndexJi France/ CAC 40_ 

d indexisCT 

MON AXIS 

tf Court Terme USO. 


tf Court Terme DEM DM 

tf Court Terme JPY — — _Y 

0 Court Term* GBP < 

rf court Terme FRF FF 

tf Court Terme ESP— — Pto 


d Court Terme ECU. 
MOSAI5 


.Ecu 


tf Art Ions I (iff DIversHlees— FF 
tf Actions Nortf-Amertcjlnes J 
tf Actions Jcwn ol ses V 

* ****%& 


0 Actions All 
tf Arttons Francoises 
a Actions Em 8> Port, 
rf Actions iMJletmes 


-PTO 


tf Actions Bassin Podllque — 5 

a Ooilfl Inn DtversiBeea FF 

rf OWlg Nard-Amerlcalnes — 5. 

d OMtaJoponaises Y 

d otmg Aogtabes X 

rf opllg AltenanOes — - — OM 

tf OblTO Franqfee s — _FF 

tf OOdo ESP. B P ort 
a Obtlg Converf. Infem. 
tf Court Terme Ecu. 



1921 

1837X1 

1173 

15)20 

11724 

1*91 

19.17 

2270X5 

1X32 

137.18 
2988X4 

2050 

126X5 

22.92 

1897.99 

1*15 

4120 

143.19 
J4S0X* 

74877*7 
3889 
1 1759 
1848 
2Z7&2B 
11T 
392* 
14720 
243*47 
U7JX3 

22X4 

17X9 

143X8 


I6U5 

1(0.14 


tf Court Terme USD 

tf Court Terme FRF 

CREDIT COMMERCIAL DE FRANCE 

tf Etvseos Monerolre FF 

a Som Act I cash USD B — S 111*53 

CURS I TOR FUND 

tf Curator East Aston Eq 5 

tf Curs! tor Gtol Gwttl Sub-FdJ 
DARIEN NBNTSCH GROUP 
T»i *1-22 TO 48 37 
a Hentsch Treasury Fd— — SF 
tf DH Motor Markets Fund— SF 
tf DH ManOarfn Portloilo SF 

tf Sonvjral Portfolio SF 

DISCWNT BANK GROUP „ 

wMumcurr. Band 5F 

wDolwIBgto. 


Ecu 


wEuroval Edultv— 
w N. America Equity 
w Pacific Equity 
wMuKicunrocv 
irMumeurrencv — 

D1T INVESTMENT PPM 
0 Concentro ♦ —PM 


tf mn RentenSon fl -f-- 


J3M 


947450 

1054958 

1030050 

32BI0 

134Z57 

1138.38 

127132 

147SX9 

134421 

4671X0 

9XU0 

5221 

6830 


DRE5DHER INTL MGMT SERVICES 
La Touche House - IFSC - Dublin 1 
DSB Thornton Lot Am Sel Fd 

tf ConortstaflorFunfl — _ — S 11J B 

DUBINA SWIECA ASSET MAJMCEMENT 
Tei : (109) 915 1400 Fax : (809) 945 1488 
a HtonortaaeCODitGiCoro — S 12TO59 

mOvorteo* PertorrnoneaFfl J 282098 


ADVERTISEMENT 

INTERNATIONAL FUNDS 


Aug- 31. 1994 


OnotaltoM supplied by hmds Bstotf, and trenmittetf by MICflOPAL PAR« (Tot 33-1 40 28 09 09J. 
m Net oseet value qnotatiom are foppTwd by (be Funds 8etod with me axeepiwa of some quotas hosod on issue prices. 

The marginal eymfaois inJcoto frequency of 4 (uoUUuim mppflod: |d) . daily; {w} ■ w— toy; |l>| - btowomtity; H fer tMy fdty (ovary two weeks); (r) ■ reguiorty; ft) - twfco weekly) (m] . monthly. 


mPocillc RIM Op Fd. 


MANAGERS U4T4erl LTD 
W Seale SI. SI Hrtler ; 0534-36331 

EEC TRADED CURRENCY FUND LTD 


0 Capital, 
tf Income. 


INTERNATIONAL INCOME FUND 

rf Lana Term S 

fl Long Term DMK— DM 

ERMITAGE LUX (3S2-H73 ») 
w Ermltoge user Ran Stroi _DM 

w Ermlioge Sell Fund 5 

v» Ermitooe Asian Hedge Frf J 
1 wErmltageEura Hedge Fd_DM 
1 w Ermltaea Crosby Asto Fd-5 

1 w Ermitooe Amer Hdg FO 5 

I w Ermltoge Enter Mfcfc Fo 1 

| eUROPA FUNDS LIMITED 

. tf American Equity Fund j 

I tf American Option Fund 8 

1 v Asian Equity Fd 5 

» European Equity fd_ 


EVEREST CAPITAL <809) 291 2368 

m Everest Capital inti Ltd S 

FIDELITY IlfTL INV. SERVICES I Lax) 


23.988 

15233 

3124*7 

104X075 

1054 

6197 

9J4 

10x1 

1923 

81* 

1621 

27287 

I77X# 

125X4 

13843 

139X5 


tf Discovery Fund 

tf For East Fund 

tf Fid. Amer. Assets . 


0 nd. Amer. Values (V. 

tf Frontier Fund 

tf Global lim Fund. 


tf Gtobol Selection Fund. 

tf New Europe Fund 

tf Orient Fund. 


tf Special Growth Fund, 
tf World Fund. 


21X0 
8727 
2C0X1 
1W45250 
3837 
2057 
2324 
109 
13*21 
*427 

. 12138 

FINMAMABEMENT S*LLuOano(4tXl/21*31U 
• Delia Premium Carp— S 121250 
FOKUS BANK A5. (72 Cl Hi 
» Scanfonds Inri Growth Fd_s fl.97 

FOREIGN « COLONIAL EMERG MKTS LTD 
Tel : London 071 63 1234 
1 1 Argentinian Invest Co SkovS 
tf Brazilian invest Crf SKav— s 
•rColcmbion invest Co Slew _i 
tf Gibl Em Mkts Inv Co SicavX 

tf Indian invesf Co Slcnv. s 

tf Latin Amer Extra view Fd S 
tf Lotto America income Co_s 
tf Latin American Invest Co_i 

tf Mexican Invert Co SrCOv s 

w Peruvian invest Co Stow 
FUND MARKETING GROUP (BIO) 

P.a Bax 2081. Hamilton, Bermuda 

m FMG GWmi (31 July I S 

mFMG N. Amer. 131 Juivl S 

m PUG Eurooe 131 July) — - « 
mFMG EMGMKT (31 July)-S 
mFMG 0 131 July) S 


27.10 

42.99 

1*71 

1151 

I2J4 

9880C 

9JD 

1U6 


13X1 

1029 


mFMG Fixed (31 July) 

FX CONCEPTS (BERMUDA) LTD 

w Concepts Fore* Fund S 

GAIA CURRENCY FUNDS 

wGola Hedge 11 S 

w Goto Hedge III. 


wGdfa Swiss Franc Fd. 
w GAIA Fx. 


m Galo Guarontssrf CL I . 

m Gala Guaranteed Cl. 1 1 

GARTMORE IN DOSUE2 FUNDS 38/08/94 
Tel : I3S2I 46 54 34 470 

Fax: (352)46542) 

BOND PORTFOLIOS 

tf DEM Bond Df. 

tf Dlvertxmd Dts2A7_ 

tf Dollar Bond__Dls227. 

tf European Bd Db 1.17. 

rf French Frmc Db 105 

tf Gtobol Bond DisiM. 

EQUITY PORTFOLIOS 

rf ASEAN 

rf asm PodfltL. 


1151 

924 

1050 

10X1 

14155 

11X9 

5*12 

179X7 

852* 

84X> 


rf Continental Europe., 
tf Developing Markete- 
er Franca. 


rf Germany 

tf Idler not lonol. 
0 . 


tf North America 

tf Swttzcriond___ 
tf United Kingdom- 
RESERVE FUNDS 

tf DEM— 

tf Doltor Dlf 2.10 

tf French Franc, 
tf Yen Reserve. 


X3M 

6*2 

XF 

3X1 

J 

2*6 

-Ecu 

1X8 

.FF 

12X3 

X 

2*5 

X 

9X7 

J 

*9* 

.Ecu 

1X0 


4X6 

.FF 

11X3 

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5X3 

X 

TjO 

_Y 

27800 

X 

2X3 

XF 

3X9 

X 

1*4 

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*377 

X 

2.111 

-FF 

12«6 

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2885 


GEFINOR FUNDS 
London: 7! -499 41 71 .Geneva. 4 1-22 735 55 30 


iv Scottish World Fund- 
w State S L Amer lam —I 
GENESEE FUND Ltd} 
w(A| G enesee Eanle 
ar IB) Genesee Sf»rt M 


w « Cl Genesee Opportunity _5 

m (Fl Genesee Non- Equity S 

GEO L0QO5 

wit Straight Bonds Ecu 

W II Port tic Band B SF 

GLOBAL ASSET MANAGEMENT 
OFFSHORE FUNDS 
T1 AlhOl SU3ou0toU ai Mon 4*63*634037 


4792)85 

34897 

151X5 

49X4 

14*51 

139.12 

106027 

1325.94 


wGAMerica. 


iv GAM Arbitrage. 

tv GAM ASEAN 

w GAM Australia. 
n GAM Boston. 


w GAM Combined 

tv GAM Cross-Markei. 

tv GAM European 

IV GAM France 

w GAM Fronc-vgl 

iv GAM GAMCO 

WGAMHWlYMd. 


JF 


» GAM East Asia 

W GAM Japan 

W GAM Monw Mkts U 
rf Do Sterling. 



tf Do Swiss Franc— 
tf Do Deutichtmark 

tf Da Van 

ir GAM Allocated MtfFFd S 

w GAM Emerg Mkts MltFFd S 

w GAM Mllt-Europe USS & 

■V GAM Mlfl-Elirape DM DM 

W GAM Mltl-Gfotxtf USS S 

IV GAM Mlli-US S 

ir GAM Trading DM DM 

■VGAM Trading USS — J 

w GAM Overseas S 

IV GAM Pacific. 


ir GAM Reiallve Value . 
>v GAM Sefecf ton . 


iV GAM Singooore /Mo to vs( a _S 

w GAM SF Special Band SF 

** GAM T vrtv „ _ S 

tV GAM u f • S 

iv GAMut Investments - S 

iv GAM value. 


iv GAM Whitethorn 

iv GAM Worldwide 

WGAM Bond USS ord. — 
W GAM Bond USS SaeciPl . 

IV GAM Bona 5F 

IV GAM Bond Yen 

or GAM Bond D» 

*r GAM Bondi 

■v GAM t Special Band . 

■v Gam Untverioi uss_ 

■vGSAM Composlle 

0 Gtobar Strategic A. 
nr Global Strategic B. 


0 European srrolegk: A - 
0 European Strategic B - 
■v Trading Slraleglc A. 
iv Trading Slrofeglc B. 


47*97 

407X6 

*55X7 

22522 

304x4 

123X0 

111X7 

*554 

178727 

253X6 

21*91 

15*77 

757X9 

911*3 

100X2 

10876 

100X3 

10047 

1DG26JO 

1*1X6 

1I0JD 

13476 

12697 

17222 

12117 

iSEi 

629.I* 

75825 

131.70 

35*09 

21D26 

190X3 

679X* 

14*75 

18*25 

1ML25 

7463350 

11757 

15*42 

)43xl 

M7X8 

336.91 
100*4 
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10050 
99.96 

100.91 
101.10 
109.78 
113X1 


w Emerg Mkts Strategic . 
iv Emera Mkts 5 ho regie B 
SWISS REGISTERED FUNDS 41-M22 2424 
WXNebOdtttn n se 178CH 803LHXTO1 

a GAM ICH) Europe _5F *853 

rf GAM tCH) Mondial SF 1*5.74 

tf GAM ( CH 1 PocMIc SF 30455 

SEC REGISTERED FUNDS 

125 Easi 57th SireetJiY 1002UI3«B<!00 

W GAM Europe 5 T2J0 

wGAMGtobai S 133X7 

WGAM international — J 1*1x1 

0 GAM North America— _—S 91.9# 

w GAM PocHk: Basin S 19*2* 

IRISH REGISTERED UCIT5 

45-44 Lower Mount SLDublto 2J53-1-67MM0 

w GAM E utopo Aec DM 133.13 

wGAMOrtenlAcc DM 1 59X7 

W GAM Tokyo Acc DM 181.13 

WGAM Total Bond DM ACC — DM 10*52 

to GAM Universal DM ACC DM 17157 

GLOBAL CAPITAL MANAGEMENT LTD 
Bermuda: (8691 295X000 Fox: 1809) 795-4180 
JWH GLOBAL STRATEGIES LTD 


.. ... Ftoandal 6 MetaB i 

w ID) GtahaJ Diversified 5 

w l Pi G/ Currency S 

wlH) Yen Financial S 


wfJl Diversified Rsk Adi. 
m IKI imt Currency 8 Bond_S 

a- IL) Global Financial S 

wJWH WORLDWIDE FND — 5 
GLOBAL FUTURES 8 OPTIONS SICAV 


9250 

1*957 

1 1232 
9257 
159.13 
11*5* 
119.79 
*175 
1729 


mFFM Ini Brf Progr-CHF a JF 1*071 
GOLDMAN SACHS 

wGS Adi Rate Mori. Fd II — S 9J1 

m G5 Wobol Currency 1 1153X5 

Of G5 World Band Fund S 10.18 

wGS WorM Income Fund 1 9.41 

GS EQUITY FUNDS SICAV 
irGSEuraSmofl Cop Port — DM 99-24 

w GS Gtobol Equity 6 1254 

b> GS US Cop Growth Part s lox* 

» GS US Small Cap Port 5 1CL20 

urGS Asia Portfolio 5 11.17 

GOTTEX FUND MANAGEMENT 

or G. Swap Fund Ecu IJJS59 

GRANITE CAPITAL INTL GROUP 

w Granite Capital Equity S 

w Gran (re Capital UartolWJ 
iv Gnmile Gtobai Debi. Lid — S .. .. 

GT ASSET MANAGEMENT (IRELAND] LTD 
Tel: (441 71 -7104547 

d GT Axean Fd A Siores S 

tf GT Aston Fd B Snares 5 

d GT Asia Fuad A Shares 5 

dGTAste Fund B Shares 5 

tf GT Aslan Small Comp A ShX 
tf GT Asian Small Comp B ShX 
0 GT Airslraito Frf A 5horM_l 
rf GT Austral >0 Fa B Shores — S 
tf GT Austr. Small Co A Sir — s 

tf GT Austr. Small Co B Sh S 

tf GT Berry Japan Ftf A Sh—J 

tf GT Berry japan Fd B Sn s 

tf GT Bona Fd a Shores S 

tf GT Bend Fd B Shares — — J 
tf GT Bio & Ap Sciences A Sh.S 
tf GT Sta & Ad Sciences 8 ShJ 
tf GT Dollar Fund A Sh. 


89700 

07774 

0.9*41 


8353 


tf GT Dollar Fund B Sh- J 

■ SASft — S 


a GT Emerg! (to Mkts a _ 
tf GT Emerging Mkts S Sh 
tf GT Em Mkf Small CoASh_S 

tf GT Em Mkl Small CoBSb-S 
iv GT Ewra Small Co Fd A ShX 

wGT Earo Small Co FdBShJ 
tf GT Hang Kong Fd A Shares S 
tf GT wng Kone Fd B snaras 
tf GT Honstki Pathfinder A 9iS 
tf GT Horen u Pathfinder B ShS 
iv GT J0POTC Stacks Fd A ShS 
w GT Jap OTC Stocks Fd B ShS 
w GT Jew Small Co Fd A Sh_X 
wGTJaa small Co FdBSd-X ■*«« 

•r GT Lotto America A S 255* 

w GT Latin America B S 21JJ 

rf GT5iroregfcBdFdASn_s sc 

a GT strategic Bd Fa b sn — J 8X4 

d GT Tetteamm. Fd A Shares* 1X29 

tf GT Tefecomm. Fd B Snares* 15X5 

r GT Teamoioer Fund a Sh_* S87* 

r GT Technology Fund B sn_s s* 17 

GT MANAGEMENT PLC («« 71 7W4S67) 
tf GT. Btotech/Heailh Fund-* 2085 


2456 
2*29 
19.18 
!®-37 
33X6 
3*27 
2751 
27X5 
2*22 
24X0 
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1829 
2054 
2809 
15X6 
3*11 
2154 
77 m 
lOx* 
18*7 
*3.18 

«xS 

7*j* 

7550 

13J6 

IMS 

1371 

1351 

1*22 


a G.T. Deutschtand Fund s 1159 

a G.T. Eurooe Fund s 50X3 

w G.T. Gtobol Small C* Fd — S 30*5 

tf G.T invesmienr Fund s 2*53 

w G T. Korea Fund i 422 

«v G.T. Newly Ind Cwnlr Fd— 5 4251 

w G T. US Small Comoanles _4 25x3 

GUERNSEY CAPITAL MANAGEMENT LTD 

I GCM Global SfL Eq. .5 10859 

GUINNESS FLIGHT PD MNGRS IGaiAV} LM 
GUINNESS FLIGHT GLBL STRATEGY FD 


rf Menaced Cu 
tf Global Bond 


Currency. 


tf Global Hlgn income Bond-* 

tf Gin 8 ( Band 1 

tf Euro High Inc Bond-.....- t 

tf Global Equirv i 

tf American Slue Lhio s 

tf joson one Pacific s 

tf UK. 


tf European. 


38.77 
3375 
:ijs 
1835 
20X5 
95JT 
2850 
13*27 
27J7 

1217* 

GUINNESS FLIGHT INTT. ACCUM FD 

rf Deutechemark Money DM *8181 

tf US Del tar Monty 5 J852I 

tf US Dolier High Yd Bond S 2*44 

rf inn SalancM Grth 5 36X0 

HA5ENBICHLER ASSET MANOT GeunWI. 

«v HarenUdriw Com AG s 440750 

w tttscrCKbtor Com Inc 5 UBXt 

■v Hflronbi chler Oiv . 1 138*2 

wAFFT J 1*6358 

HDF FINANCErTrKSS-lMOnMSLFex <8744455 


iv Mondin vert Europe SF 

wMordlfivMtCronsance FF 

nr Mommveu opp inhes FF 

nrMMdHtvest Einerg Growth. FF 

-FF 


f HtptagonQLBFumL. 
m Heptagon CMO Fund. 


1 NV (5999-615555) 


-SNA 


1289.10 

1373X5 

1215.1D 

1335.90 

120882 

1133 


HERMES ASSET MANAGEMENT LTD 
Bermudo: (80912*5 4008 Lu» : 13521404 it 61 
Estimated Prices 
m Hermes European Fund — Ecu 
m Herma North American FdS 
m Hermes Asian Fima s 


m Hermes EmerOMkls FunaX 

m Hermes Strateglerf Fund 1 

m Hemes Neutroi Fund 1 

m Hermes Gtobol Fund I 

m Hermes Bonrf Find Ecu 

m Hermes Sterllrto FO x 

mHermesGoid Fund. 


34070 
2*840 
383X3 
12151 
678X5 
11431 
447.18 
12*3X1 
HU 
41*81 

INCOME PARTNERS (ASIA) LIMITED 

• Asian Fixed income Fa 4 10X16 

INTERINVEST (BERMUDA) LTD 
Oto Bank ol Bermuda Tei - 809 295 *0)0 
m Herfse Hog & conserve fo_* 9xi 

INTERNATIONAL ASSETS FUND 
2. Bd RoroL L-2**9 Liuvmbcmro 

to Europe Surf E Ecu 9*45 

INVE5C0 (NTT. LTD/ POB 271. Jersey 
Tel: 4* 53* 73114 
rf Maximum Income Fund. 

tf Sterling Mngrf Pto 

rf Pioneer Markets 

rf Global Bond 

rf Okoson Global Strategy. 
rf Asia Surer Growth. 


rf Nlpgon Warrant Fund. 
rf Asia Tiger Worronl. 


tf Eurocean Warranl Fund S 

rf G!d N.W.1994 5 

PREMIER SELECT FUNDS 
rf American Growth—— __j 

rf American Enieranse 5 

tf Asia Tioer Growth s 

tf Dollor Reserve. 


0.9600 
2.1970 
4X310 

185000 
275100 
L4700 

t wvi 

37500 
9.7800 

V TWl 

8.9100 
12X700 
5J1M 
5X500 
6X100 
9X900 
5X7UC 
82700 
5X000 
5X300 

4X388 
7.9200 

80X4800 
121 * 
1122 

.. 10X3 

JAR DINE FLEMING. GPO Bo* 11448 He Kg 


tf European Growth 5 

0 European Enterprise S 

tf Global Emerging Markets Jl 
d Glooal Growth J 

tf Nippon Enterprise 5 

tf Nippon Growth— s 

tf UK Growth. 


rf Starting Reserve C 

tf north American Warrant— S 

tf Greater Chino Coos S 

ITALFORTUNE INTL FUNDS 
w Class A (Agar-Growth itoLis 

iv Class B I Gtobol Equity) S 

wOossC (Gtobol Bond) 
nr Class D( Ecu Bond) 


Ecu 


rf JF ASEAN Trust 

tf JF Far East Wmf Tr_ 

tf JF Gtabrt Conv. Tr 

tf JF Hong Kone Trust- 
d JF Japan Sm. Co Tr._ 

tf JF Japan Trust. 

tf JF Motavsio Trust— 
rf JFPodticlnC.Tr.. 
tf JF Thailand Trust. 


JOHN GOVETT MANT (LOJA.) LTD 
Tel: 48X3* - 62 9* 3) 

iv Govett Mon. Futures c 

w Govett Man. Fut. USS } 

to Govett s Gear. Curr s 

to Govett S Gtol Boi.Htfge 5 

JULIUS BAER GROUP 
tf Boeroan 
tf Conhar- 

rf Equlboer / 

d Eoufbaer Europe, 
tf SFR -BAER, 
a 5 rock bar . 
tf Swissbar. 

tf Uquiboer, 

tf Europe Bond Fund, 
tf Dollar Bona FuM — 
tf Austro Band Fund _ 



tf Swiss Bona Fund. 

tf DM Bond Fund. 

tf Convert Band Fund, 
tf Global Bond Fund 

a Euro Stack Fund 

rf US Slock Fund— 
tf Pacific Stock Fund- 

tf Swtes Stock Fund 

tf Special Swiss Stock, 
tf Japan Stack Fund- 


-SF 


tf German Slock Fund DM 

0 Korean Stack F.mtf - . s 

tf Swiss Fronc Cosh Sr 

0 DM Cash Fund. 

0 ECU Cash Puna. 


tf Sterling Cast) Fund . 

tf Dollor Cash Fund 

a French Franc Cash. 


KEY ASSET MANAGEMENT INC 

mKev Asia Hoirflnas s 

m Kev Global Hedge S 

m Kay Hedge Fund Inc 


Kl PACIFIC ASSET MANAGEMENT INC 


59X5 
2U8 
1*51 
1856 
531*4 JO 
1272300 
28X3 
12X7 
43X0 


1224 

234 

1227 

188314 


178152 
2527X8 
1649.77 
1077X8 
7466JM 
2951X4 
7X.00 
1X70 
12*70 
13»450 
1 1990 
117.90 
9170 
H77D 

iisxa 

IJS.70 

138*0 
159X0 
1*2X0 
9850 JM 

107.00 
8950 

12I350 

127150 

191.00 
1)1250 
105350 
11225C 

10130 

& 


mKJ Asia Pacific Fd Lrd. s 

KIDDER, PEABODY 

6 Chesapeake Fund LTO S 

B III Fund LTO _J! 


11X5 


11*350 

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6 Stonehenge Ltd S 

LEHMAN 8R0THER5 29 /M/94 

tf Altai Drogcn Pert NV A 5 9 97 

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tf Global Advisors HNV A— X 10*8 

a GlDbo! ABviSOta It NV B J 18*7 

tf Global Advisors Port Nv AJ 1052 

rf Global Advisors Port NV B-S 1 0X5 

rf LenmonCurAflv a/b s 7xfi 

d Premier Futures Adv A/B-S 9x5 

LIPPO INVESTMENTS 
(WUnb Tower Cemre. 89 OueenswavxfK 
Tel (852) 86748a Fas (ISS) 5*6 0388 

to Java Fund J 9JS3 

to Asear FDea Inc FO 5 841 

wIDR Money Martel Fd 5 127* 

w USD Money Market Fa s 10X6 

to IIM0TO tan Growth Fo s 21X9 

w ASTOO Growth Fund S 102J 

w Aslan Warrant Fund S 5X1 

LLOYD GEORGE MNGMT (1521 145 6431 

w Antenna Fund S 1837 

to LG Aston Smaller Cos Fa_J 281368 

to LG Inflla Fund LTO I 1*94 

jr LG Jonon Fd S 1805 

LLOYDS BANK INTL (BAHAMAS) Ltd 
iv Uoydi Americas Portloita-S *X7 

LOMBARD. ODIER A CIE - GROUP 
OBUFLEX LTO (Cl> 

a Multlaimnci 5 3145 

tf Dollar Medium Term J j*95 

tf Dollar Long Term S 70 H7 

tf TOPonese Yen. 


rf Pound Sterling 

fl Deutsche Mark 

tf Dutch Florin 

tf HY Euro Currencies, 
d Swiss Franc. 


-Eai 


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tf Beioion Franc. 

tf Corrverttbl* 

O French Franc _ 

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a Swiss Franc Short-Term SF 

rf Canadian Dollar CS 



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d CAD Muliicur. Dlv 

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JF 

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1354 

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MALABAR CAP MGMT (Bermuda) LTD 

m Malabar inti Fund 5 1*73 

MAN INTERNATIONAL FUTURES 

mMim Limited- Ordinary S 

m Mini Lhniiea - Income S 

mMim Gta lw -Spec issue _S 

m Mint Gld Ltd- NOV 2D02 s 

ntMint Gta Lid -Dec 1994- s 

mMim Gld Ltd - Aug 1*95 % 

m Mint So Res Ltd (BNP) 5 

m Mini GW Currencies S 

mMlrd GW Currencies 7001 S 

m Mini GGL Fin 7003 S 

muhrt Pha GW 2003 s 

m Athena Gta Futmes S 

m Athena Gtd Currencies S 

mAlheno Gta Finonclols Coo. I 
m Athern Gld rlrtondols lnc_5 

mAHL Capital Mkts Fd i 

mAHL commodity Fund S 

mAHL Currency Fund l 

mAHL Real Time Trad Fd 5 

mAHL GW Peat Time Trd 1 

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to Maritime GIDI Beta Series J 52255 

to MarillmeGIDi Delta Series X 78338 

MATTHEWS INTERNATIONAL MOT 
EMERGING ASIAN STRATEGIES FUND 
m Class A . . . .5 11192 

rf Class B 3 11717 

PACIFIC CONV STRATEGIES FD LTD 

mats . SA S 9298 

rfOassB S 98X7 

MCKINLEY CAPITAL PARTNERS, LTD 

m The Corsair Fund LW s 74X5 

m The Dauntless Fa LTO 5 

ME EX PIERSON 

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to Asia Poc Granin Fd N.V.^3 41.97 

» Asian Capital Holdings 5 4290 

w Aslan Selection Fd n.v Fl icc.it 

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, tf Dollar Assets Portfolio 5 100 

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tf Clou A s 

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GLOBAL CURRENCY BOND SERIES 
AUSTRALIAN DOLLAR PORTFOLIO 
tf Colegorr A AS 

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tf Category A_ rt 

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tf GOSS A- 1 J 

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tf Category A t 

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tf COleWiY A 

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rf Category' A 

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BASIC VALUE PORTFOLIO 

tfCIflSSA S JJ4S 

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tf Class A 5 6.77 

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d Class A j 872 

tf Class B « *71 

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rf Mexican IncS Ptll Cl A S *XS 

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m Momentum RvR R.U S 6X72 

m Momentum Stackmasfer 5 151.95 


MORVAL VONWILLER ASSET MOT Co 


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m WIHerfunrfs-Wlllerbona Eur Ecu 
ir Wlilertunfls-Willereq Eur_Ecu 
toWlllerturate-Wmereq Italy _LH 

ar Wllteflunrfs- Wilier eq NA S 

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m European Eaulties. Ecu 

m Japanese Eouiites r 

m Emerging Martels X 

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m ArtHlroge- 
m 


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NOMURA INTL. (KONG KONG) LTD 

rf Nomura Jakorta Pis ta. S 

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21 Gnuvenw Sl.LdnWIX 9FEX4-71-4W 2998 


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to Oder Euro Grth Star inc E 

w Oder Euro Grth Sler Acc I 

OLYMPIA CAPITAL INTL INC 
Williams House. Hamilton HM11. Bermuda 
Tel: 609 292-1018 Fax: 809 295-2305 

to Flnsburv Group.. S 228«* 

w Olympia Securue SF SF 16X77 

w Olympia 5lors Emerg Mklss 97115 

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to Winch. Frontier 26/37 

* Ohrmpla Star— S 16253 

to Winch Gl Sec inc PI (A) 5 9.1* 

to Winch Gl sec inc PI (C) — S 9X4 

m Winch Global Heallhcore_Ecu 101*63 

» Winch HIM Inri Mad-vjn_Ecu 151*92 

» Winch HIM intT Ser D. Ecu I7I2X9 

» Winch HIM Inn Ser F Ecu 177817 

w Winch HIM Otv Star Hedges 10*8*6 

• Winch. Reser. Mum. OvBd-S 1817 

w Wlncnesler Thailand 5 32X0 

OPTIGEST LUXEMBOURG 
6 2?!!*” 1 G !? 1 ine-DM I583SJ 

£> Opflaesl Glbl Fd-Gen Sub F.OM 16**39 
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73 From SI. homlltan. Bermuda 60* 7*5X456 


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w Dot Ima Perlcuta Ftf Lid S 

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to The Platinum Ftf Lid J 

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tf Orbite* Growth Fd s 

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fl Orbitei Natural Res Fa CS 

FACTUAL 

tf EtemllyFgnd uu S 

0 mfiiutv Fund lto s 

tf Novastor Fu 


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PARIBAS-GROUP 

ai Luxor 

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tf For yes I Japan B 

tf Porvest Asia Pool 0 

fl Parvpst Europe B 

tf Porvefl Haitana B 

a Parvesi France B 

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tf Pcrvtst Oblr-Yen B V 

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tf Porvesl S-T Dollar B x 

rf Porvest S-T Europe B. 

tf Porvesl S-T DEM B 

d Porvesl S-T FRF B. 


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tf Porvesl Gtobol B 

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tf Porvest ini Eouiites B_ 

tf Porvest UK B 

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rf Parvesi 5-T CH F B 

rf Parvesi ObJI-Canado B_ 

0 Porvest ON LDkK 8 

PERMAL GROUP 

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1 Emerglrs Mk's Htogs — 


-9F 

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I FX. Fkianctab 8 Futures S 

. Investment Hldgj rev s 

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PICTET A CIE - GROUP 

tf Amerosec « 

to P.CF UK Vpl (Luil. 


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to P.U.F. volopnd SFR ILu»i JF 
toP.U.F.Vabrfha USD (LuvU 

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to P.U.F. Valbond GBP lLu»>_i 
» P.U F. Valbona DEM (Lull DM 
to P.U.F. US S 3d Ptfl (Ui«|_S 

• P.U.F Mooel Fd Ecu 

to P.U.F. Plane. SF 

to p.u T. Emerg Mkts iLuvi_ s 
to P.U.T. Eur.Opoon (Lu»l —Ecu 
b P.U.T. Gtobol Vohte ILu*l_Ecu 

P.U.T. Eurovol ILu/j Ecu 

tf Pieter Vatsulsse (CH) 5F 

m Infl Small Cap ( I OMl S 

I PREMIER INVESTMENT FUNDS LTD 
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1 Foi: (00*) 949099) 

imPremier U5 Eawrv Funfl_A II8M4 

m Premier mil Ea Fund I 1294XS 

mPremiei Sovereign Bd Fa _i 80126 

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| PRIVATE AS5ET MGT GAM FUND INC 
; Guernsey: Tel: (004* *81 1 723*32 Fa>:723*8a 

*»' Mgr GAM Fd S 10817 

PUTNAM 

rf Emeraino Hlth St Trust S 35X8 

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I tf PufnomOloB. Hiflti Growth X 17J4 

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rf Pulnom inn Fimd .. 1 J5,^ 

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.wQwnium lntfuslrioi_ S 10*3* 

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REGENT FUND MANAGEMENT LTD 

• New Kqreo Growth Fd > 12*1 

• w Novo Lor Pacific inv Co S *2f4> 

w PacHte AftMiogg Co s IW5 


m Rj~ Country wrnt fo s 

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tf Reoem GIW UK Grth Fd 1 

w Reoent Moghul Fd lw 5 

m B*Senf PocHIc Hog Fd s 

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to Reoubiic Gam s 

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w Rex GAM Em f*vis Global .s 

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to Republic Lnt Am Brail I 5 

w Republic Lot Am Metuco—I 

nr Republic Lot Am Venet £ 

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tf RGAtoney Plus ffl Fl liioi 

More Roooen Amsterdam Slocks 
ROTHSCHILD [GROUP EDMOND DEj 
IN-HOUSE FUNDS 
to Asian Capitol Holdings Fd_l 
toDerfwo LCF Roinschtia Bd_s 


to Dal no LCF Rcthsch Ea S 

to Force Cash Tradition CHF JS F 

irLelCOm S 

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to Prl Chalterge Swiss Fd 

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tf Prl bond Fund USD 

£ PrtoOOfl Fd HY Emer MMS.S 
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to Vcripot u 5 Ecu 



ROTHSCHILD [GROUP EDMOND DE) 
OTHER FUNDS 
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w Euroo sirateg tnvestm to —Ecu 

D integral Futures 


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SANTANDER NEW WORLD INV. 

mCammonder Fund _S 101X27 

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SC FUNDAMENTAL VALUE BVI LTD 
Tel 599 9 122066 Fa* 599 9 3ZB31 

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SKANDINAVISKA EN5KILDA BANKER 
5-E-BANK EH FUND 
fl Eurooe Inc 5 


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et Global Inc 

tf Lokomedel in.- 
rf varwei inc 

tf Japan me 

tf mum inc. 


a Sverige Inc - 

fl Ncrdameribo Inc. 
rf Teknoiool lnc_ 


fl Sverige Rcntefond Inc. 
SKANDlFONDS 

tf Eauity Inri Acc 

rf Equity Inti inc 

d Eoui'y Glooal. 


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rf Eoultv Nordic J 

tf Equity U.K. 


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a Equity Far Eosl S 

tf Inti Emerging Mark ets _X 
tf Hortf Inll Ar e s 

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d Band Europe Acc S 


tf Bond Europe Inc. 
tf Band Sweden Acc. 
tf Band Sweden lnc_ 
tf Bond DEM Acc. 

a Bond DEM Inc 

tf Band Dollar US Acc. 
tf Bond Dollar US lnc_ 
rf Curr. US Dollor. 


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toSFT 


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SO()l TICASSE? MANAGEMENT 


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SVENSKA HANDELSBAHKEN SA 
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SWISS BANK CORP. 

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0 5BC £o PIII NelherKkidL Fl 

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tf SBC Bond PtfKonS B CS 

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a SBC Bona Ptfl-DM B . D M 
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If SBC Bond PilLDulch G. B_FI 

rf SBC Bona Ptfl-Eai A Ecu 

d SBC Bond PtfLEcuB Ecu 

d SBC Bond Ptll-FF A FF 

rf SBC Bond PIIFFF B FF 

tf SBC Bond Pffl-Ptas A/B—Ptai 
fl SBC Bond Pm-Slerltos A _t 

fl SBC Bond Pi d- Start lag B C 

fl SBC Bono PorttaJtO-SF A — SF 
- Band Portfolta-SF B SF 


rf SBC . . 

tf SBC Bond Pm- Yen B 
tf SBCMMF - AS. 
tf SBCMMF - BFR. 

rf SBCMMF- Can 

tf SBC DM Short-Term A 
rf SBC DM Short-Term B 
tf SBC MMF - Dutch G._ 

a SBC MMF - Ecu 

tf SBC MMF- ESC 

O SBC MMF - FF 

d SBC MMF - Lit. 



.Esc 

.FF 


tf SBCMMF-Ptas Pi 

fl SBC MMF - Schilling A! 

rf SBC MMF - Sterling i 

tf SBC MMF - SF 5* 

rf SBC MMF - US - Doltor S 

rf SBC MMF - USS/II $ 

rf SBCMMF- ren- 


tf SBC Glbl -Ptfl 5F Grth_ 


tf SBC GlbFPHI Ecu Grth Ecu 

tf SBC GIBi-Ptfl USO Grth 5 

rf SBC GlbVPlH SF YIO A SF 

d SBCGtai-PlliSF YUB SF 

fl SBC Dtol-Ptti Ecu YkJ A Ecu 

fl SBC Glbl- Prfi Ecu Yld B Ecu 

rf SBC Glbl-PIM USD Yld A S 

rf SBC GtOI-Ptfl USD Yld B S 

fl SBC GIW- Ptfl SF inc A. 
fl SBCGIbFPtflSFincB. 
a SBC GISFPtfl Ecu Inc . _ 
fl SBC Gtw-Ptft Ecu Inc fl- 
it SBC GUN- Pill USD Inc A. 

fl SBC Glbl-PfH USD inc B S 

tf SBC GTOi PW-GM GrBwTh_DM 

tf SBC Glbi Ptfl-DM Yld B DM 

a SBC Glbl PtH-OM me B DM 

tf SBC GIN-PHI DM Bol A'BJJM 
tf SBC Glbi-Pirt Ecu Bol A/B. Ecu 
tf SBC GtoLPrf! SFR Bol A/BXF 
tf SBC GIDi-Pfti USS BOI A/B J 

tf SBC Emerging Markets S 

tf SBC Smell 8 MTO COPS Sw„5F 

fl SBC DYIi Floor CHF 95 SF 

0 Amertcn voter S 

fl Angir voior • 

tf AMOPOrttiHUL. 


fl Convert Bona Selection SF 

tf D-Mark Bona Select ton DM 

tf Dollar Bona Selection S 

tf Ecu BwkJ Selection Ecu 


a Florin Bono Selection . 

a France Vo tor 

tf German lo valor 

0 Gold Portfolio. 

fl Iberio Jctor — 

tf llclVator 

d JooonPurtfrlto- 


-Fl 

-FF 

J3M 


Pto 

Lll 

- 1 

a Sterling Bona Selection 

tf s-n. Foreign Bono SctecItonJF 

tf Swiss Valor SF 

tf universal Bona Selection _5F 
a Universal Fund SF 


5*51 
1*00 
11-38 
12X6 

61X4 

391 
11811 
104X1 
825 
1361 XS 

1737X0 
217X0 
221X0 
201X0 
*83X0 
1017.90 
10878 
119.9* 
103.10 
177.08 
15*36 
17880 
TJ7X5 
178*6 
10*64 
127.16 
50607 
66826 
9243X0 
49X8 
59 JB 
106282 
1374X5 
99X4 
118*4 
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113339X0 
4373X1 
11*098X0 
4766X1 
IWIXi 
1JCJJ 
746166 
382*42 
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256193) 
5507066X0 
37196100 
374X17 
2871X1 
5969X1 
7305JB 
211*47 
60107800 
117249 
1283X5 
1206X3 
1055X4 
1169.70 
11*7X3 
132*76 
102842 
1195.98 
1020.79 

109*44 

105805 

11*816 

9*1.16 

1039.16 

106330 

1035X2 

1026.14 

1024.29 

I027J8 
1022X5 
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541X0 
1066X0 
35501 
225X2 
74575 
104*3 
115 10 
1I7JS 
101*0 
119.99 
305891 
540.33 
379 *7 
57644® 
48170100 
25615X0 

109X0 

550X0 

7U5 

116X4 

1174*00 


tf Yen Bond Selection. 

TEMPLETON GLOBAL STRATEGY SICAV 
11X3 
1847 
14X1 
11.35 


tf GteOdl Growth Cl A . 

tf Gtobol Growth Cl B 

a DM Global Growth 

a Smaller ComnunCI a_ 


tf Smaller Companies Cl B S 

fl Pan-American a 

tf Pan- Amer lean Cl B S 

« Eursoeon .. <.f 

e For East. 


tf Emerging Markets Cl A. 

tf Emerging Mariiets Cl T 

tf G la bol uiuihes s 

tf Gtobol Canvertlbif. s 

a Global Bnlawrn . j 

a Glooal Income a A S 

a Global income a B S 

tf DM Global Bond. 


tf Yen Global Bond Y 

a Emerg Mkts Fl* Inc G A-4 
tf Emera .vuts n* inc a B_x 

tf US Grfvemmenl S 

tf Haven sc 

tf US* Ltoukl Reserve. 


1825 

18*1 

1831 

11X0 

14*4 

17.96 

10X8 

1813 

1037 

1842 

11X3 

1810 

1U1 

98862 

11X7 

1023 

9X2 

18*9 

10X4 

1007 


tf DEM uiauid Reserve DM 

TEMPLETON W.WIDE INVESTMENTS 
GROWTH PORTFOLIO 

d Class A-l 6 1*15 

tf Class A-J 5 16X5 

tf Class A-l I 15X5 

rf Clou B-1 5 73X9 

rf Class B 2 1 17*9 


INCOME PORTFOLIO 

tf CtossA 

fl Class B 


THORNTON INVESTMENT MGMT LTD 
33 Queen SMxnaan EC4R I AX 071 246 3000 


9J1 

9*2 


tf PflCtf Irtvf Fd SA L. 


J 


tf Paelf I nut Fd SA OM DM 

tf Eastern Crusotfer Fund S 

a Tnor. Llffi Dragons Ftf Lid J 
a Thornton Orlenl Inc Fd Lid I 
rf Thornton Tiger Fd LW 5 

tf MmnwHAwlWl 4 

» Jakarta S 

tf Korea s 

NEW TIGER SEU FUND 

0 Hang Kona S 

tf i™» « 

r Korea s 

tf PMIIoome 
tf Thailand, 
fl Matavslo. 


tf USS Liquidity. 
a Chma. 


I4*v 

1*37 

1*42 

42.96 

29X1 

SU1 

21*3 

1438 

1737 

S4XS 

18*1 

9.11 

73.93 

25*1 

ieji 

I7JS 

24X4 

1*76 

19.10 

10X0 

120*83 

651X3 


d Singapore- . - 4 

THORNTON TAIWAN FUND 

O Equity income s 

a Eaulrv Growth 5 

a Liquidity S 

UE BERSE EBANK Zurich 

e B • Fund SF 

tf E - Fund SF 

tf J - Fund SF 

a M • Fund SF 

fl UBZ Euro-Income Fund SF 

fl UBZ World Income Fund Ecu 

tf UBZ Gold Fund 5 

fl UBZ Ntooon Convert SF 

tf Asia Growth Convert SFR _SF 
tf Asia Growth Convert USS—J 
tf UBZ DM - Band Fund . pm 

d UBZ D - Fund DM 

tf UBZ Swiss Eatriry Fund SF 111)4 

tf UBZ American Ea Fund S 913* 

J UBZ5- Bono Fund— S 9*07 

rf UBZ Sttjlheafl Asio Id S >02X3 

UNION BAHCAIRE ASSET MGT [UBAM) 
INTERNATIONAL, NASSAU 

• Ardelinvest , s 

• ArmmveM s 

• Bi 


1835 

516* 

126*7 

124171 

1219X0 

1166X3 

101*4 

1114 


w Becv Invest, 
w BrucinvrSJ . 

• Din futures - 

• DHivest* 

w Dlnvest Asta s_ 


<V Din veil Gold 8 Metals 4 

• Din «est India » 

to Dfnvra inti Fir Inc Straf—S 
to jaginvetf 5 

w Mann fives! J 

» Mortlnvest s 

w Mourlnvesr s 

• Mourtiwra Coml noted s 

• Mauri nvest ecu He 

• Pulsar . 


to Pvtsor Overly _ 

h> Quonf’nvest 

w Duant invest Vi- 
to Steuilnvest 

• Tud Invert 

• Ureinvesi. 


2406 12 l 
970X34 
111*4*7 
1439X1 I 
1151*8: 
102832: 
2SH75 : 
1099X5: 
921.1*: 
9585*: 
641631 
200*5*: 
96T73 : 
1285X7: 
3625*3: 
995*1 1 
1655X4: 
1119X7 - 
166*54 2 
2*04.70: 
Ut*7«t 
2793*8: 
110811: 
asv J*: 


UNION BANCAIRE ASSET MGT (UBAM) 
INTERNATIONAL. LUXEMBOURG 
to UBAM S Bond S 

• UBAM DEM Bond DM 

to UBAM Emerging Growth —S 

to UBAM FRF Bond FF 

to UBAM Germany DM 

to UBAM Gtobol Bona Ecu 

• UBAM Japan Y 

to UBAM Sterling Bund- 


le UBAM sm Portf 4 Asia 5 213X2 

to UBAM US Eouiites S 1163.61 

UNION BANK OF SWITZERLAND/! NTRAG 
tf Arnca. 


tf Bond- 1 avert - 
tf Brit-invert — 
tf Canac- 


_SF 


~SF 


O Convert- invert, 
tf D-Mork-lnvert- 


a Dollar- invest 

a E nergte- Invert. 


tf Esaoc. 


tf Eurll 

tf Fonsa 

tf Frtmcll 

tf Germoc., 

a Gtoblnvest- 
tf GoH-lnui 


JF 


-5F 


rf Guldervlnveit — 

rf rietvetmvrrt 

rf Mol lond- Invest. 

tf Hoc. 

tf Jttaan-invert— 
tf PacUlc-l nvest_ 
tf Soil!. 


tf 5 k and I novten- Invest - 

rf Sterling- 1 nvest 

tf Swiss Franc- invert — 
tf Sima. 


tf Swissreal. 

tf UBS America Lollno- 


_SF 


-SF 


tf UBS America Latina. 

rf UBS Asia New Hortean SF 

tf UBS Asia New Horteon. I 

0 UBS Small C Europe SF 

tf UBS Small c Europe dm 

tf UBS Part Inv SFR Inc SF 

rf UBS Port inv SFR Cop G_SF 

tf UBS Part Inv Ecu Inc SF 

tf UBS Pori Inv Ecu Inc Ecu 

tf UBS Pori «nv Ecu Can G — SF 
rf UBS Pori Inv Ecu Corf G — .Ecu 

tf UBS Pori inv USS Inc S 

tf UBS Pori Inv USS Inc — — SF 
rf UBS Port inv USS COP G —SF 
tf UBS Purl Inv USS Cop G— S 

tf UBS Port inv DM Ind XF 

tf UBS Part inv DM Inc DM 

tf UBS Port Inv DM CapG — SF 
tf UBS Part inv DM Cop G — DM 
tf UBS Pan Inv Lll Inc SF 


-Lll 


tf UBS Pari Inv Lll Inc 

tf UBS Part Inv Lll CapG SF 

d UBS Pori Inv UICotG Lit 

tf UBS Port inv FF Inc SF 

d UBS Part inv FF Inc FF 

d UBS Port Inv FF Cap G SF 

d UBS Port inv FF Cap G-. -FF 

rf Yen-Invert — - .Y 

rf UBS MM Invert-USS. — J 

tf UBS MM Invert-4 St ( 

tf UBS MM invert- Ecu Ecu 

d UBS MM Invert- Yen, Y 

tf UBS MM Invert-Lit. 


tf UBS MM invesl-SFR A SF 

d UBS MM Invsst-SFR T SF 

tf UBS MM Invert-FF- FF 

rf UBS MM tnvert-HFI Fl 

tf UBS MM Invert-Can * CS 

tf UBS MM Invert-BFR BF 

tf UBS Short Term InvOM— DM 
tf UBS Bond Inv-Ecu A Ecu 


tf UBS Band Inv-Ecu T, 
rf UBS Band Inv-SFR - 

tf UBS Bond Inv- DM 

a UBS Bono Inv- USS 

d UBS Band irrv-FF 

fl UBS Band Inv-Can S. 
tf UBS Bona inv-ur_ 


-Ecu 

-SF 


.a 


-Ut 


rf UBS ai-USS Exlro Yield — S 
tf UBS Fl* Term Inv-SFR W_SF 
tf UBS Fix Term InvOM K— DM 
d UBS Fl» Term Inv-Eai 96— Ecu 
tf UBS Fl* Term Inv-FF 96 — FF 

tf UBS Ea inv-Eurooe A DM 

d UBS Ea Inv-Eurooe T — . — DM 

a UBS Ea invSCiro USA s 

tf UBS Port i Fix inc (SFR)— 5F 
tf UBS Pori T FU me Idmi _dm 
tf UBS Port I Fix Iik (Ecu I —Ecu 
tf UBS Port 1 Fl» Inc (USSi_S 

rf UBS Port i Fix Inc ILltl Lit 

d UBS Port I Fix Inc IFFI FF 

rf UBS Cap lnv-90/10 USS i 

rf UBS C® lnv-90/10 Germ DM 

WORLDFOLIO MUTUAL FUNDS 

tf s Dairy Income 1 

rf DM Dally Income——— —DM 

tf 4 Bond Income J 

tf Non - 4 Bonds 1 

tf Globed Bonds 4 

a Global Balanced 4 

d Gtaool Equities . 


fl US Conservative Equities _S 

a US Aaressive Equities s 

a Eurooeon Equities. 

fl Poclllc EquIllS 

rf Natural Resoorcm . 


Other, Funds 

iv Adlcrolssancr Slaty _ 

w Acimnonce Slcov 

w Actl futures LM . 


to Act tgev Ion Sknv. 


• Arfetakle- 

m Arfwmced Latin Fd Ltd. 

m Advanced Pacific Strot— 
m Advanced Strategies LM. 
toAIG Taiwan Fund. 


wAquIlo International Fund-J 
w Arbi! In Investmem— — 4 

n> Argus Fund Bafcriart. SF 

iv Argus Fund Bond— SF 

rf Arte Oceania Fund * 

• ASS (Gtobol) , - 


m Associated Investors inc.. 

w A mono Fund Lid 

w ATO Nikkei Fund. 


CU 


• Banzai Hedged Growth Fd.s 

iv Beckman inf Coo Acc S 

to BEM International Ltd 4 

rf BlkuDen-Marval EEF E 

tf Biecmar G1U Fd t Cayman >S 
tf Biecmtw GtebaKBahomaal i 
w Brae International— _ FF 

a C.C.i.1 4 

mCoi Euro Leverage Ftf LM-S 
m Coal tut Assured infflo Fd— 1 

tf Ca^GcnTKm tadex Fund D M 

mCervIn Growth Fund 4 

mOlllton Inll (BVI) LW 4 

• China Vision. 


w Citadel Limited. 

rf CM USA 


wCMl Investment Fund, 
m Columbus Holdings— 
mCancorde inv Fund— — 
• Car I (vest Adlans lntt_ 


_BP 


■* Con lives! Obil Be lux CT BF 

w CanthresfODH Wand— DM 

to Convert. Fd Inti A Curts—— J 
■v Convert. Fa inri B Ceric— 4 

m Craig Drill Coo _J 

mCRM Futures Fund Ltd s 


491*3 

33.16 

815X1 

535.91 

Mi* 

1029X4 

94X9 

96-23 

1S9X3 

142X27 

11*0 

926890 

553.99 

978X6 

1255X0 

105331 

I LBS 

968X0 
891.14 
990600 
71223 
5328X7 
1X1 
11X7 
12831 
301X5 
327 JO 
*341*9 
*7.90 
21937X6 
0X8 
154J2 
96025 
UM 
10207-79 
1840 
142X7 
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1 WM 
207X1 
I1SJ48 
9399X0 
10527X0 
<59.97 
21 JO 
79JJ 
138X6 
669.76 


wCrosDy Asset Mans Ltd. 
to Cumber Inri N.V.. 


to Curr. Concert 3000 — s 

tf pi witter wia wmf in 1st j 


• D.G.C. 

tf Dolwa japan Fund — 
rf DB Argentina 80 FcL 


d DBSC / Mai In Band Fund— S 

• Derivative Asset Alloc S 

tf Dreyfus America Fund— J 

t DVT Pei l urm on ce Fq 1 

m Dynasty Fiind- 


to EOS Oversees Fund Ltd—— 4 

m Elite world Fund Lta SF 

tf Eml Beta. Ini Plus A BF 

a eru Beta. me. pun b — — bf 

tf Eml France ind. Plus A FF 

fl Emi Franc* Infl Plus B— FF 
tf Eml Germ. Ind. Plus A —DM 

tf Eml Germ. Ini Phn B DM 

ff Eml Mem. index Phis A fi 

d Eml Neltt. man Plus 3 Fl 

tf Eml Spain ini Plus A Pto 

tf Eml Seoin Ind. Plus B PTO 

tf Eml UK Inane Plus A -.-.I 

0 Eml UK index Plus B £ 

to ESDir. bio inv. sth Eur Fd_l 
fl Europe 1992 S 


tf Europe OBUoaiinm. 
nr F.i.T. Fund FF — 
• FJlAP.Partfollo- 


toFoirllew urn U# 

iv Fairfield Senlry LW_ 


-Ecu 

_FF 

-5 


■r FairileW Strategfes LW. 
mFatum Fund. 


m Firebird Overseas LM. 
• Firet Eagle Fund — 

«r Firs Ecu LW - 

m First Frontier Fund 

toFLTniKAila 


h> FL Trust Stwoenand- 

tf FontflTOlte. 


JF 


w Formula Sekehgn Ffl. 
tf Fortitude Grotto me. 


m Fur ure Generation Lid- 

mFXC investments Lid 

w G.I.M I Mull (-Strategy . 
fflGEM Generation Ecu Cl 
mGEM Gaienman 
m Gemini Cars Lia 


mGems Progressiva Ffl Ltfl_S 

iv Genera) Fund LTO 5 

m German SeL Assaciaies DM 

w Global 93 Fund Ltd 5 S 

tv Global 94 Fund Lto SF SF 


ur Global Arbitrage Lid. 
m Global Band Fund. 


-SF 


•y Global Futures Mgl Lid. 
w Gonnord _ 


-SF 


fl GreenLine France. 

mGuaramcta Cobitoi imm w lf 
m Guaranteed Commodity Ffl 4 
/ Haussmarm Hlflas N.V s 

ai Hemisphere wulrai July 31S 

wHestta Fund . * 

tf Highbridoe Capitol Cora s 

w roe* Hofdlnas LM SF 

tf IDF Global 4 

• I FDC Japan Fund. - - v 

w IGF Fonlux > Money. 


to IGF Fonlux 3 - Inll Bond SF 

to IGF Forunulllfan IB Inti ., is m 
b ILA-IGB. 
b ILA-IGF. 
tf ILA-1NL. 


to Ihdigo Currency Ffl Lid 5 

r Inn Securnies Fund Ecu 

• inter Mgl Min Fa-MJete DM 

rf intertuod SA S 

fl Inn Network Invt k 

tf liwerta DWS. 


w Jonon Poclllc Funa 
m Japan Selection 

• Japan Selection Fund . 

to Kenrrar GW. Series 2 — 

• Ken mar GuOranlaefl 

m Klngate Gtobol Fa LM- 

'KM Global. 


tf KML- II High Yield— 

to Korea Dynamic Fund . 

i* Korea Grawtn Trust . 


i* La Faveiie Holdings Lid s 

tf La Fayette Regular Gro wins 

m La Jolla Int Gnh Fd Lid— 4 

• Leaf Slmu % 

m Leu Performance Fd— A 

• LF International I 

m London Portfolio Services— 4 

mLPS mn H.P.B— ___s 
m Lux Inri Mot Fo Ltd S 

W I inrhtfyi 


mLvnx Sel. HaftNngi- 


JF 


• M.Klnaaon Offshore. N.V . 

mMaster Cop & Hedge Fd S 

• Matterhorn Offshore Ftf — * 

wMBE Japan Funo LF 

m McGinnis Global (Jul 313 S 

mMCM mi. Limited. 


to Millennium Interna I tonal _X 

mVUM Inlemcmonal Li d 4 

mMamrnrum GuDO Lid 1 

ai Mon! eianc Hedge J 

to Mull Ihifures — — — _F F 
tf New Millennium Fui.LW— J 

tf Nrwbank Debentures S 

m NMT Aslan Sel. Portfolio— 5 

to Noble Partners Inll Lid s 

to Nava Fin Fd Lid-Prop Ser -4 
mNSP F.I.T. LW I 

m Ocean Strategies Llmlted—S 

O Offshore Strategies LW S 

• Ota Ironside Inn Ltd s 

m Omesa Overseas Partners _* 
mOpoenhdmer UX. Arb. s 

m Optimum Fund s 

w Oracle Fund LTO. 


m Overlook Performance-— 4 

m Pocii RIM OOP BVI Aug 29 X 

mPan Fixed inc Fa Uan 31 U 
at PAN International Lid— S 

wPanawrl int. 4 

• Panda Fund pic I 

m Panolaes Ottrtnre ( Jul 31 1 .s 

m Paragon Fund Limited. S 

m Parallax Fund Lid s 


mPequot Inn Fund 

ffl Per mai uodyke Ltd. 

•r PharmarerHeoim. 


w Phirtaestton Plunlorex FF 

• Plurigertlon Plurivaleur FF 

• Plurivert *J rav FF 

m Pan) bar Overseas Ltd 4 

m Portuguese Smaller Co 4 

ffl Prima Capital Fund LM 4 

m Prime Mu rtl-lnvest 4 

mPrimea Fund s 

tf Profirent SA. 


w Pyramid Inv Fd Con>- 

fl RAD rni. inv. Fd 

tf Regal inn Fund Ltd. 


m RehQrm tnvertmenl N.V_ 

I Rlc inavert Fixid B 

• RM Futures Fund Slcov— 

w Sc. tars inn Eauity 

to Sailor's mil Fixed 

tf Sanyo Kte. Saaln Fa 

tf Scrakreefc Holding N.v._ 

to Saturn Fund. 

fflSavav Fund LM. 


-Ecu 


tf SCI / Teen. SA LlnembourgS 

m Sdmllar Guar. Curr Fd 4 

mSelecta Global Hedge Fa s 

tf Selective FuL Ptfl Ltd 4 

mSenrry Seteri ua J 

• Sinclair Mullltund Ltd S 

toSJO Global (*091*21-6595 4 

rf Smith Barney Wrldwd 5ec_4 
fl 5inl!t> Barney WrldvwiSpecS 

• SP international SA A Sn_s 

• SP International SAB Sh 4 

m Spirit Hedge Hid S 

m Spirit Neutral Hid 1 

w Sartnter Japan Small Co I-S 

• Sir Inha rdf ffseas Fd Ltd s 

• Stelnhardt Realty Trurt— 1 

ffl Slrlaer Fund « 

mSIromeOffrtwreLld 4 

fl Sunset Global III LTO 4 

d Sunset G»Ooi One s 

ffl Sussex MeGarr - 


-SF 


• Techno Growth Fund- 

tf Temotelon Global inc 

mThe Bridge Funa N V j 

fflThe Geo-GkitxV Offshore I 

0 The Instil Multi AOvlsorj— s 
mThe J Funa B.V.l. Ltd s 

• The Joouar Fund N.v u 

tf The M'A'R'S FB Slcov A— S 

rf The M’A'R*5 Fd Slcov I DM 

mThe Seychelles Ffl Ltd— I 

mThe Smart Band Ltd SF 

mThe Smart Bond Ltd 4 

to Theme M-M Futures 4 

ffl Tiger Sefcc Hold N v Bid j 

tf THC lOTCt JOP. Fd Slcov— S 

tf Tokyo IOTC) Funa Sifiov I 

to Trans Global Invt Ltd s 

tf TronsoocHlc Fund _V 

• Trinity Fufures Ffl ufl— j 

mTriumoh ( « 

n) Triumph I V » 

fl TurquoHe Fond. 


• Tweedy Brown I ml SFR SF 

m Tweedy Browne inll n.v.— s 

iv Tweedy Brmwieav. Cl A 5 

fl UbaFutures FF 

tf UbaFutures DOitor. 


rii UBZ Diversified 5trgles s 

/ Ultima Grawtn Ffl LTO s 

0 U morel la Debt Fund Ua S 

tf Umbrella Fund Lid 4 

to Uni Bono Fund Ecu 

to Uni Capital A/lemagne DM 

to Uni Capital Convertibles Ecu 

iv Un -Glooal Slcnv DEM DM 

• Unl-Gtoboi SicPv Ecu- Ecu 

w LmFGIotnl Slcov frf .FF 

Uni-Global Slcov FS SF 


iv Uni -Global Slcov USD. 

a Unlco Equity Fund 

tf Unicn inv. Fund— 

mUrmrndes CHF 

munlimtesCHF Rea 

mumirooesFRF 

ni Unilrantefi USD — 

to Ursus inri Lta — 

mVa (bonne- 


.DM 


m Vidor Futures Fund 5 

tf Voyager Investments Fie S 

w vulture Lid 4 

m wedes wilder mn Fd s 

d Win Global Fd Bd. Ptll Ecu 

d Win Global Fd Ea. Pin Ecu 

d Win Global Fd R« PHI 5F 

tf World Balanced Fund SA — 4 

m Worldwide Limited i 

to WPG Forber OSeot Part S 

mWW Capital Grth Fa LM 4 

fli Young SF 

m Zephyr Hedge Fund _S 

mZweig mn lio s 


SWJ* 
109X5 
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tntemefonoi Recruhment 

Evefy Thursday 
Cantori Philip Oma 
Tel.: (33 1)46 37 93 36 
Fa« (33 1)46 37 93 70 
or your nearest IHT office 
or representative 


i TTVSSSIBEiWW-lftar ^ ES'SEM'.KSr" ^ 

U- fatal El*Rtr,< « Otftr Price inri 3% prefin. chOTp ;*fWl lOchangejev fcnstoilani exchanoe: 

P; SMdtertMBWl offered prte E: eslfttialed price; y: price c&ilated 5 days prior to publuahon; z: bid | 


For information on how to list your fund, fax Simon OSBORN at (33-1) 46 37 21 33. 


tr- 




Attend this major 
international conference to 
meet and question the region s 
kev decision-makers. 


THE MIDDLE EAST 1 
EASTERN MEDITERRANEAN 

ASTIR PALACE HOTEL. VOULIAGMENI. NEAR ATHENS 
I 0-1 i OCTOBER, 199 h 

Hcralfc^Sribunc 



FOR FURTHER DETAILS 
PLEASE CONTACT: 

Fiona Cowan. International Herald Tribune 
65 I-ong Acre. London \VCl , l£‘).IH. UK 

Tel: H4 7 1 .) 35b -1802 
Fax: r4A 7 1 ) 856 071 7 
































Page 16 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 1, 1994 



NASDAQ 


12 Month 
Weti Lw stock 


ttv Yld PS lota Htoh LowLdtetOi’w 


27 ft 15WBUMK 


_ „ WadnMday , i 4 pjn. 

TT^Bst compiled ter the AP. consists ol the 1,000 
mow traded securities In terms of dollar value. it is 
updated twice a year. 


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mu 1 ti z ’i tit tit tit z 




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Scdrtn nouru an imofflctaL Yaorty 1 biota and lows reflect 
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trading day, wnarea suin or stock dividend amoimilin to 3S> 


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]2montta. 

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4 4 4 ” 4 —ft 

~ s A ^ :5 




I 

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10 66 BV6 Bft 8% 


JO H 13 
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INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 1, 1994 


Page 17 




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r. 


Japanese Stocks 
♦Face Pressure 
In Tobacco Sale 


Rruien 

TOKYO — Japanese stocks 
face a traumatic few months 
after the Ministry of Finance on 
Wednesday unveiled a 1.44 mil- 
lion yea (514,000) public offer- 
ing price for Japan Tobacco 
Urn. shares set for sale in Sep- 
tember, analysts said. 

The price — high above the 
shares’ fair value — could un- 
dermine confidence in Tokyo’s 
equity market just as investors 
are starting to rank it alongside 
more-established markets in 
New York and London. That 
could send the Nikkei Stock 
Average, which Wednesday 
ended little changed at 
20,628.53, to as low as 18,500 
by the year-end, analysts said. 


U.S. Stock Rally 
Fuels Advance 
In Asian Markets 

Compiled by Our Staff From Dispatches 

HONG KONG -- Recent 
strength in U.S. stocks helped 
push Asian shares up Wednes- 
day, and Hong Kong led the way 
with a jump of 2J1 percent. 

Hong Kong’s blue-chip Hang 
Seng Index rose above 9,900 
points for the first time since 
March 14, helped by an influx of 
foreign investors encouraged by 
Wall Street's strong showing, 
brokers said. The Hang Seng fin- 
ished at 9,929.39 points. 

Expectations for U.S. inter- 
est rates to remain firm and 
inflation to remain in check in- 
spired confidence in Asia's 
markets, analysts said. 

Hong Kong got a further lift, 
from sentiment that real estate 
companies will perform well in 
the coming months after several 
large developers recently re- 
ported strong earnings. 

Shares in Bangkok, Bombay 
.and Singapore also rallied. 

. In C hina, the Shanghai A- 
share index, which is reserved 
for domestic buyers, continued 
its climb by adding 3.98 percent 
after gaining 6.64 percent on 
Tuesday. On Wednesday, the 
index gained 30.93 points, to 
dose at 807.86. 

(Reuters, Bloomberg) 


In September, 436,000 Japan 
Tobacco shares will be offered 
publicly, after 230.000 were 
auctioned in mid-August, as 
pan of the government's plan to 
sell one-third of the company's 
2 million outstanding shares be- 
fore its listing on Lhe Tokyo, 
Osaka and Nagoya stock ex- 
changes on Ocl 27. 

The Finance Ministry said the 
weighted average of "accepted 
bids in the mid-August auction 
was 1.44 milli on yen and that it 
felt it prudent to use that as the 
public share offering price. 

Harrison Bales, an analyst at 
Schroder Securities (Japan) Ltd- 
said the fair value price of Japan 
Tobacco shares was between 
900,000 yen and 1.1 milli on yen. 

He based his es tima tes on the 
share prices and valuations, in- 
cluding price- to earnings ratios 
and 1 dividend yields, of compa- 
nies including Kirin Beer Co. 
and East Japan Railway Co, 
known as JR East, which was 
listed in last autumn. 

The listing of JR East shares 
was widely blamed for a tumble 
in Japanese share prices in late 
1993, and many analysts said 
they feared a repeat perfor- 
mance this autumn with Japan 
Tobacco. 

On the day JR East shares 
were listed, they jumped about 
50 percent, to 600,000 yen, and 
fell 400,000 yen a month later, 
sending the Nikkei crashing. JR 
East ended Wednesday steady 
at 524,000 yen. 

Koichiro Beppu, strategist at 
Deutsche Bank Capital Markets 
(Asia), said the listing of Japan 
Tobacco and the yen's strength 
against the dollar could send the 
Nikkei average as low as 18,500 
by the end of the year. 

■ Japan Production Stipe 

Industrial production in Jap- 
an fell 1.7 percent in July from 
June, less of a drop than many 
economists were expecting and 
a sign the economy was gaining 
momentum, Bloomberg Busi- 
ness News reported. Stronger- 
than-expected demand domes- 
tically and abroad limited the 
slide, economists said. 

Separately, die government 
said construction orders 
jumped 17.8 percent in July, the 
first increase in 18 months. 


Cathay Unfurls New Look 

Carrier Aims to Display Asian Identity 


Reuters 

HONG KONG — Cathay Pacific Airways 
unveiled a new corporate symbol Wednesday 
as the British colony’s airline further pre- 
pared for life under Chinese rule. 

“Asia's our backyard, more important to us 
than Europe, more important io us than 
North America, and we've clearly got to make 
sure our product meets our Asian passengers' 
needs,” said the carrier's managing director. 
Rod Eddington. 

A single calligraphy stroke resembling a 
bird's wing, against a green background and a 
red baseline, replaces the green and white 
“sandwich” logo used on the tails of CaLhay 
aircraft since the 1970s. Cathay Pacific also 
will offer more Asian meals and movies on its 
flights. Mr. Eddington said. 

The look is aimed at highlighting Cathay’s 
Asian expertise and trying to make its image 
appeal to Asians as well as to its traditional, 
more Western customer base. 

It was simultaneously unveiled in Tou- 
louse, France, at the roll-out of the airline’s 
first Airbus A-330 planes. 

The fuselage will be white with a broad 


gray strip down the sides, with "Cathay Pacif- 
ic” painted in green and a green stripe under 
the cockpit. 

The corporate flag of Swire Pacific, the 
British trading house that owns 51.85 percent 
of CaLhay. still appears on the planes, but in a 
smaller size near the end of the fuselage. 

Cathay’s new Asian look is coming out just 
under three years before Hong Kong is due to 
revert to Chinese rule after 156 years as a 
British colony. 

The logo was designed by Lon dor Asso- 
ciates, which handled the latest such revamp- 
ing for British Airways. It will cost 20 million 
to 30 million Hong Kong dollars (S3 million 
to S4 million) over the next four years to 
repaint all Cathay's planes. 

It also comes as more airlines are gearing 
up to compete for an increasing number of 
Asian travelers. This month. Australia's Qan- 
tas Airways launched plans to upgrade its 
service to make it more competitive with 
Aria's Lop carriers. The domestic Australian 
carrier An sett Airlines also has said it has a 
long-term Aria strategy. 


JAL Seeking International Partners 


Compiled by Our Staff From Dispatches 

TOKYO — Japan Airlines said Wednes- 
day it was negotiating with several other ma- 
jor international carriers about possibilities 
for cooperation in marketing, scheduling and 
other areas. 

A spokesman, Kosei Yamada. said JAL 
and American Airlines, the largest U.S. air- 
line, had been discussing linking iheir fre- 
quent-flier programs and adjusting schedules 
to facilitate flight connections. 

Mr. Yamada said JAL also had been talk- 
ing with United Airlines, the second-largest 
U.S. carrier, and several other major interna- 
tional airlines about similar ideas. 

The move follows an industrywide trend of 


seeking such partnerships to offset falling 
revenue amid a plethora of discount fares. 

As a result of its most recent agreements, 
for example. JAL now shares rouies with 
KLM Royal Dutch Airlines, Varig Brazilian 
Airlines and Air New Zealand. 

JAL had an operating loss of 45 billion yen 
(5450 milli on) in the year ended March 31. 

Separately. Taiwan's Transportation and 
Communications Ministry said it had reached 
an agreement with Japan to increase the num- 
ber of airlines that can fly between the two 
countries. Under the accord, the private Tai- 
wan carrier EVA Airways Corp. and Air 
Nippon, a subsidiary of All Nippon Airways, 
will offer direct flights between Taipei and 
Fukuoka. Japan. (AP. AFP) 


China Moves on Bankruptcy 


Compiled by Our Staff From Dispatches 

SHANGHAI — After years 
of uncertainty, a Shanghai 
court has declared the first state 
bankruptcy in China's largest 
city, a court official said 
Wednesday, but the case high- 
lights China's sensitivity over 
bankruptcy. 

China passed a bankruptcy 
law in 1986, but the Jaw was 
rarely used. Beijing has said it is 
determined to close money-los- 
ing enterprises this year despite 


urban inflation at more than 20 
percent and unemployment 

But in choosing their first 
bankruptcy target Factory 101, 
a radio manufacturer. Shanghai 
authorities went to an enter- 
prise that had been little more 
than a shell since its factory 
management was taken over in 
1988 by television tube maker 
Shanghai Vacuum Electron De- 
vices. It is unlikely to have 
much effect on management or 
workers. 

A report by leading econo- 


mists has warned that failing 
state-owned enterprises threat- 
en the credibility of the banking 
sector, the official Xinhua news 
agency reported Wednesday. 

The Xinhua report, which cit- 
ed a survey on state enterprise 
bankruptcy compiled by the 
State Economic and T rade’ Com- 
mission. the State Council and 
other organizations, said the 
coun try's banks were the worst 
hit by the poor slate of public-se- 
ctor enterprises. 

(Reuters, Bloomberg) 


Arasett Air 

Lifts TNT 
To Profit 
For Year 


Compiled by Our Staff Frrm Dispatches 

SYDNEY — A jump in earn- 
ings from Arisen Airlines and 
reduced losses on its European 
parcel express business helped 
the Australian transport concern 
TNT Ltd. report on Wednesday 
that it had its first full-year net 
profit in four years. 

TNT said profit for the year 
ended June 30. including earn- 
ings from associated compa- 
nies, was 105.1 million Austra- 
lian dollars (S7S million), 
reversing a loss of 256.7 million 
dollars a year earlier. 

Associated companies in- 
clude Ansett and GD Express, a 
global parcel-delivery business. 

Revenue rose 3 percent in the 
period, to 5.69 billion dollars. 

The return to profit follows 
two years of cost-cutting, debu 
rescheduling and asset sales. "Its 
been a slow. long haul back for 
TNT,” said Rowan Carr, an ana- 
lyst at F.W. Holst & Co. "The 
result was in line with expecta- 
tions, and they still have a rea- 
sonable way to go." 

The company said its con- 
solidated debt-to-equitv ratio 
fell to 92 percent from 218 per- 
cent a year earlier. 

For the third year, TNT paid 
no dividend. Its'shares finished 
4 cents lower, at 2.65 dollars. 
“Perhaps there is a little nega- 
tive sentiment over the no divi- 
dend." Mr. Carr said.” 

The managing director. Da- 
vid Mortimer, said it was im- 
portant that earnings improve 
further before the company re- 
sumed its payout. 

TNT is involved in freight, 
express delivery, aviation and 
tourism in Australia. Europe, 
and the Americas. 

■ Australian Growth Slows 

The government said Austra- 
lian economic growth slowed in 
the second quarter of 1994 as 
consumer demand faltered, 
Reuters reported. 

Gross domestic productrose 
0.9 percent from the first quar- 
ter, seasonally adjusted. The 
lackluster performance, which 
analysts ascribed to a slight drop 
in consumer spending, followed 
first-quarter growth of 2 percent. 
It pulled the annual growth rate 
down to 4.3 percent from 4.7 
percent. (Bloomberg, Reuters) 


[investor’s Asia 1 

Hong Kong 
Hang Sang 

Singapore 

Straits Times 

Tokyo 
Nikkei 225 




- A 




i hf 

Jv \ Jl 




q 220G-V-P— 

nr~ 






13000 

1994 

sayPrev. % 

Close Change 

9.686.56 +2.51 

imr M A TF 

1994 

Exchange . 

Hong Kong 

J J A' ‘■ ww M A M J J A 
1994 

index Wednesi 

Close 

Hang Seng 9,929.39 

Singapore 

Straits Times 

2,312.70 

2.299.51 

+0.57 

Sydney 

AH Ordinaries 

2,122.10 

2.116.50 

+0.26 

Tokyo 

Nikkei 225 

20,628.53 20,592. 12 

+0.18 

Kuala Lumpur Composite 

Closed 

1.130.01 

- 

Bangkok ■ 

SET 

1,524.83 

1.492.53 

+■2.16 

Seoul 

Composite Stock 

944.23 

939.85 

+0.47 

Taipei 

Weighted Price 

7,008.11 

6,980.28 

+0.40 

Manila 

PSE 

3,112.83 

3,104.07 

+0.28 

Jakarta 

Stock Index 

509.26 

509.01 

+0.05 

New Zealand 

NZSE-4Q 

2,148.48 

2,132.82 

+0.73 

Bombay 

National Index 

2,149.86 

2,126.80 

+1.00 


Sources- Reuters. AFP 


Itoctu M iaul timid Tiihunc 


Very briefly: 


• MIM Holdings Ltd. posted u loss of 195.1 million Australian 
dollars ($145 million) for the year ended June 2 6. reversing a 
profit of 74 million dollars in the previous year because of charges 
for devaluing smelting and refining assets in Germany. 

• Shun Tak Holdings Ltd/s net profit rose nearly 17 percent in the 
first half of the year, to 333.5 million Hong Kong dollars (S43 
million), but the results were below analysis expectations because 
of a decrease in jetfoil passenger traffic. 

• The Philippines gross domestic product expanded 4.5 percent in 
the second quarter, almost double the 2.6 percent growth in the 
1993 second quarter and the strongest quarterly growth rate in 
four years. 

• Yulon Motor Co. posted a loss of 74.9 million Taiwan dollars (S3 

million) in the first hair, narrowing from a loss of 206.2 million 
dollars in the 1993 first half but still under pressure from stiff 
competition and rising costs. B/o.mif\-n>, at 

Pulp Prices Lift Fletcher 


Compiled by Our Staff From Dispatches 

AUCKLAND, New Zealand 
— Fletcher Challenge Ltd. said 
Wednesday that strong com- 
modity prices, cost cuts and a 
one-time gain helped it more 
than double its annual profit. 

The construction, forestry 
and energy company said it 
earned 692.7 million New Zea- 
land dollars (S417 million) be- 
fore taxes in the year to June 30, 
up from 202.9 million dollars in 
the previous year. 

The profit included a one- 
time gain of 367 million dollars 
from the sale of its methanol 


company. Methanex. and its ag- 
ricultural services agency. 
Wrightson Ltd. 

Thai gain and other cost cut- 
ting made up for a slump in 
revenue, to 8.1 billion dollars 
from 9.5 billion dollars. 

The results exceeded analysts' 
expectations and Fletcher Chal- 
lenge's shares rallied 13 cents, to 
4.18 dollars, a high for the year. 

Fletcher Challenge said it 
had completed its restructuring 
program, which included the 
sale of 2.4 billion dollars in as- 
sets. (AFX. Reuters) 


MACHINES: Government Plus High Technology Equals Bankruptcy 3COM: A Large Range of Products Leads to Success 


Continued from Page 11 

Machines to ignore the market- 
place. "The government created 
raise expectations,'* said Debra 
Goldfarb, an analyst at Interna- 
tional Data Corp. It fired up 
enthusiasm for massively paral- 
lel computers, but corporate 
customers were often disap- 
pointed when they found the 
supercomputers lacked reliabil- 
ity. 

With approximately $12 mil- 
lion from the government and 
$ 1 20 million f rom private inves- 
tors, Mr. Hillis sought to design 
a computer that would function 
like the human brain. He strung 
_ together thousands of proces- 
i«c. sors, each of which simulta- 
neously tackled a tiny pan of a 
problem. In contrast to single- 
processor computers. Mr. Hil- 
lis’s machines were called “mas- 
sively parallel processors.” 

By the late 1980s, researchers 
had embraced the new comput- 
ers enthusiastically. By break- 
ing large problems into small 
pieces, Thinking Machines' 
massively parallel computers 
could crunch through reams of 
data at lightning speed. 

A generation of scientists at 
federally funded supercom- 
puter centers as well as at the 
national weapons laboratories 
scrambled to learn to use Mr. 
Hillis’s systems in hopes of sim- 
ulating — and perhaps even 


solving — fantastically complex 
problems. 

Despite testimonials from re- 
searchers, the commercial mar- 
ket for such machines was pre- 
carious. They were expensive — 
selling for between $1 million 
and £20 million each — and 
software had to be tailor-made. 
Over time, engineers learned 
how to fit their problems onto 


which was acquired two years 
ago by AT&T Corp. Teradata’s 
secret is that it designs its sys- 
tems to solve basic business 
problems. Its systems will not 
win prizes for speed, but they 
run seven days a week. 24 hours 
a day. 

In addition, a large number 
of conventional computer mak- 
ers, including Digital Equip- 


The real money is in handling Wal-Mart’s 
inventory rather than searching for the 
origins of the universe. 9 

Danny Hillis, co-founder of Thinking Machines. 


parallel machines. But many 
commercial customers still fa- 
vored buying systems that were 
compatible wiLh what they had 
used in the past. 

Last year, demand from sci- 
entific and technical users for 
massively parallel machines to- 
taled just 5310 million. Com- 
mercial customers spent about 
the same. International Data 
Corp- said that while commer- 
cial demand was poised to 
grow, the scientific market was 
likely to shrink. 

A sign that there is money to 
be made from parallel process- 
ing — despite Thinking Ma- 
chines’ stumble — comes from 
a firm called Teradata Corp-. 


mem Corp. and Silicon Graph- 
ics Inc., now seD systems with 
more than one processor. 

When T hinkin g Machines' 
future began to look bleak, cus- 
tomers backed away from in- 
vesting in its expensive hard- 
ware. “Big companies don't 
want to buy big computers from 
little companies,” Mr. Hillis 
said. Since last September, 
Thinking Machines has not 
clinched a major sale in the 
United States. 

Thinkin g Machines officers 
also made serious mistakes, Mr. 
Hillis conceded. After racking 
up $1 milli on in profits in 1990. 
the company took on 120 new 
employees. In addition, the com- 


pany signed an expensive lease 
for office space in Cambridge. 
Massachusetts. 

Another mistake, given the 
signs that the supercomputer 
market was shrinking, was a de- 
cision to reject offers from Cray 
Research Inc. and International 
Business Machines Corp. to 
buy the company. 

Since 1990. Thinking Ma- 
chines has not turned a profit. 
Last year, revenue fell to $82.5 
million from about S91.5 mil- 
lion in 1992. The company's 
president. Sheryl Handler, was 
ousted last spring. By the time 
Thinking Machines decided it 
wanted a a partner or a buyer, 
none was willing to shoulder the 
costs and risks. 

Thinking Machines’ fall from 
grace sends a message that the 
supercomputer business has 
changed, said Larry Smarr, di- 
rector of the national Center for 
Supercomputing Applications. 
“We used to think of “super- 
computing* as an industry.’’ he 
said. “Now. it's sort of liie the 
flag on top of a pyramid." 

A sprawling collection of 
networked personal computers 
looks increasingly like a viable 
super-computer, he added. 


For inveatmenl information 

Read THE MONEY REPORT 
every Saturday in the IHT 


Continued from Page If 
market for the adapter cards 
that enable personal computers 
to run on networks based on a 
technical standard known as 
Ethernet. Ethernet was invent- 
ed by Robert M. Metcalfe, an 
engineer who co-founded 3Com 
in 1979 and left it in 1990. The 
company now employs about 
2,300 people. 

Unlike many other network- 
ing companies that concentrate 
on a single line of products. 
3Com operates in several relat- 
ed fields. 

3Com ranks third, for exam- 
ple, in the S2.6 billion markeL 
led by Synoptics Communica- 
tions Inc. for hubs — special- 
ized computers that control net- 
works. It is fourth in the SI. 9 
billion market led by Cisco Sys- 
tems Inc. for routers — another 
type of computer that can con- 
nect several networks. 

Unlike any of its competitors 
so far, 3Com has assembled a 
full array or hubs, routers and 
other types of switching equip- 
ment into a complete inter- 
networking system. 

3Com seems to be on such a 
roll that the main question is 
whether the company can sus- 
tain its momentum. Many of its 
rivals are adopting diversifica- 
tion plans similar to 3 Corn's. 

Last month, two of its most 
formidable competitors. Syn- 
optics and a router maker called 


Wellfleet Communications 
Inc., agreed to merge into a 
company that would be larger 
than 3Com. 

In the mercurial networking 
market, 3Com has slipped be- 
fore. 

In the late 1980s, well estab- 
lished in Ethernet adapter 
cards, 3Com decided to take on 
Novell Inc., the leading provid- 
er of the software used on Eth- 
ernet networks. To compete 
with Novell’s network software, 
3Com teamed up with Micro- 
soft Corp- to market a network 
software product. 

The 3Com-Microsoft net- 
work software, was based on 
the OS/2 operating system soft- 
ware that Microsoft had devel- 
oped with IBM. But in 1990, 
Microsoft pulled out of the 
OS/2 business after a rift with 
IBM, and 3Com's network soft- 
ware effort collapsed. 

3Com had other troubles. In 
1987. the company had ac- 
quired a smaller network hard- 
ware company. Bridge Commu- 
nications, for $200 million. But 
executives from the two sides 
began fighting almost immedi- 
ately over strategy’. 

Bridge's co-founders. Wil- 
liam N. Carrico and Judith L. 
Estrin. soon left. Mr. Benha- 
mou, who had been with Bridge 
from its beginning in 1981, opt- 
ed to stay. 


By October 1990, when Mr. 
Benhamou was appointed pres- 
ident, 3Com was in disarray. 

L. William Krause, who 
founded 3Com along with Mr. 
Metcalfe and still owns a large 
number of shares, was chair- 
man when Mr. Benhamou was 
named president. 

The broad-based networking 
strategy was one Mr. Krause 
had already begun to sketch. 
But Mr. Benhamou filled in his 
own details and called his plan 
“global data networking.” 

Mr. Benhamou’s notion, 
shared in various versions by 
others in the industry, was that 
computer data networks would 
eventually be as ubiquitous as 
the voice telephone network. 
“None of us on the board knew 
what he meant." Mr. Krause 
said. 

But 3Com’s board took a 
leap of faith on Mr. Benha- 
mou's pledge to turn the com- 
pany around. He has been al- 
lowed to go on a buying spree, 
filling out the company’s prod- 
uct line with acquisitions of 
companies and technologies. 

3Com knows it cannot as- 
sume it will always hold lhe 
edge it appears to have now. 
The merger of Synoptics and 
WellfleeL expected to be com- 
pleted next month, will create a 
broad-based competitor. 


Bank Rules Set 
In Hong Kong 

Compiled by Our Staff From Dispatches 

HONG KONG — The 
Monetary Authority, Hong 
Kong’s banking and securi- 
ties regulator, said Wednes- 
day it wanted banks to dis- 
close data including annual 
transfers to and from their 
inner reserves. 

David Carse. the author- 
ity’s deputy chief executive, 
said the rules, which the au- 
thority wants banks to fol- 
low in their reports for 
1994, would not yet require 
them to reveal the size of 
their hidden accounts. 

The stock exchange said 
it would require all listed 
banks to comply. 
(Knight-Ridder, Bloomberg) 


Leveraged Ucefclv,,ct!,sseI 
Capital 


Holdings 



talus 

..n 29.08.94 
US $ 61.19 


Listed tin the 
AniMcrdjin 
Stuck Fvch.mge 

lnl.*nnjnon- 

McoPii'Nin C.ipiul Management 
Rutin ii. 1012 KK \ni,icrtl.nn. 
Tel:, 51-20-521141 n. 


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Hcralb^SSribunc 


c 


First six months 1994 

ING Group achieved handsome results for the first six months of 1994. Net profit in- 
creased by IS.S^o to NLG 1,066 million (first six months 1993: NLG 897 million i. 

Net profit per ordinary share went up by 13.9% to NLG 4.1 1. 

An interim dividend of NLG 1.75 per share will be made payable on 6 September 1994. 
At the option of the shareholder this w ill be made av ailable either in cash or in depositary 
receipts for ordinary shares in the ratio of one new depositary receipt for every 40 exis- 
ting ones. 

Total assets increased by 2.S% to NLG 34S.8 billion in the first six months of 1994. 
After the sharp increase by NLG 5.9 billion in 1993, shareholders’ equity decreased from 
NLG 21.5 billion at the end of December 199? to NLG 20.9 billion ai the end of June 
1994. 

The Executive Board expects that net profit per share for the whole of 1994 will at least 
equal the 1993 level. 


Amount-, in Dutch guilders 

First six 
months 

Kirs: >i\ 
months |*»3 


i million;.) 




Result before t.isation 

1.474 

1,22‘j 

- IO.0 

Net profii 

i.n&ft 

S«7 

* IX.S 

(guilders! 




Nci profii per share 

4.11 

3.61 

- 13 v 

interim dividend 

1.75 

J.oG 

- v.4 


June 

31 December 



1<W4 

1 0*4.5 


1 hi II ions i 


ms igi 


Total assets 


I 5 


Investments 




Bank lending 



- 1 0 

Group capital base 



1 ? 

(guilder-.! 

Shareholders' 
equity per share 

7X.42 

32. 7U 

- 5.2 


ING 


GROUP 


The report for the first six months can be obtained at the following address. 
Internationale Ncdcrlanden Group. P.O. Box SI0. 1000 AV Amsterdam. 
The Netherlands. Tel. (-31 1 20 541 54 60. fax: t+3l j 20 541 54 51. 
























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BagelS 


INTERNATIONAL HER A m TRIBUNE, THURSDAY, SEPTEMBER 1, 1994 


SPORTS 


Negotiators 
Meet in Bid 
To Avert 
NHL Strike 

Conpikd by Oar Staff From Dispatches 

NEW YORK — Hockey’s 
management and labor leaders 
■have resumed negotiations in 
an effort to avert a work stop- 
page. when players arrive for 
training camps this weekend. 

Gary Bettman, commissioner 
of the National Hockey League, 
met on Tuesday in Toronto 
.with Bob Good enow, the execu- 
.tive director of the NHL Play- 
ers Association. It was the first 
meeting between the two lead- 
ers since Aug. 18. 

•- The negotiators met for more 
.than five hours, but had litde to 
report. 

“We’re having discussions 
and we're working very hard,” 
Bettman said in a statement re- 
leased by his New York office. 

Steve MacAUister, a spokes- 
man for the players union, said 
the union would have no imme- 
■diate comment on the talks. 

No new meetings were sched- 
uled. 

There have been reports that 
Bettman offered to waive the 
owners 1 demand for a salary 
•cap in exchange fora ceiling on 
.rookie salaries. But the players 
• reportedly rejected the proposal 
on the grounds that a rookie 
salary cap would have a nega- 
. five effect on salaries through- 
-out the league. 

Earlier this summer, Bettman 
warned the union that teams 
would institute severe benefits 
cutbacks if there were no new 
collective bargaining agree- 
ment. The players worked last 
season without a contract, but 
both sides agreed to abide by 
the terms of the old agreement 
that expired last September. 

Although no formal an- 
nouncement of a lockout has 
been made, it is widely expected 
throughout the league that Bea- 
man win order the camps to be 
closed this weekend if there is 
no progress in the talks. 

Among the major issues is a 
demand by the te ams that play- 
ers accept a wage structure 
based on team revenues. The 
players have said that this 
amounts to a salary cap and 
that they will not agree to it. 

One concern of the union is 
. the effect the salary cap has had 
in National Football League 
' this season. Some players have 
seen their wages drop while oth- 
ers have been released or traded 
based on their salaries. 

Mike Gartner, a right wing 
for the Toronto Maple Leafs 
and president of the Players As- 
sociation, said the talks would 
be “a feeling-out process.” 

Asked if he thought Bettman 
was taking a hard-ball ap- 
proach, Gartner replied: “Cer- 
tainly he is. He said he is going 
to impose 18 or 19 rollbacks 
and too bad if we don’t like it. 
It's a different approach from 
any approach I’ve ever seen." 

(NYT. AP) 



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Hurdling Toward Track and Field’s Pot of Gold 


Colin Jackson of Britain clearing a hurdle ea route to victory in the 1 10- meter kilograms of gold. He shared it with the American long-jumper Mike Powell, who 
hurdles in Berlin, the last leg in the “Golden Four” series of meets. Jackson won his also won at the four events. The meets in Berlin, Brussels, Oslo and Zurich 
event in all four meets, giving him a part of track and field’s richest prize: 20 combine to offer the prize, worth about 440,000 Deutsche marks ($280,000). 


SCOREBOARD 


Japanese Leagues 


Control Laoma 


Initio, dri. Dovkl R Ik I. Czech Reaubl le.64,61, 
6-4; Henrik Holm. Sweden, del. Gres Ru- 
xedskl.Canoda.6-3.6-Z 3-4, 7-6; Roger Smith, 
Bahamas, oaf. Diego Ncrylsa. Italy, 7-4 
64.60: Slave Brrnn, US. dri. Franco Davln, 
ArBenttna6Z61,6I; Jeff Tarango. U.S-def. 
Lara Wohluren. Sweden. 44 7SKH 44; 



Mr 

L 

T 

Pet. 

GB 

Guy Forgot, France, def. Mats Wfiamtor, 5v«- 

Yomkirl 

42 

4* 

0 

.559 

— 

dtaM>61,6(; Tomas Enqvlst. 8svKtan.<tef. 

HlroRilnio 

57 

52 

0 

J23 

4 

A tax Corretja, Spain, 64b 6X 64. 67 15-7), 61. 

Ohuotahl 

55 

55 

0 

JUG 

6M 

Glankica PazzL Italy. d«f. Ronza Furtoa 

Konshin 

54 

57 

0 

AM 

8 

Italy. 6X64.4-1; Ri chart Kralkok. Notaw- 

Yokult 

51 

54 

0 

jC7 

* 

lands. de(. Jan Stamorlnk, tfethertandx 7-4 (7- 

Yokohama H St 0 A 54 

WMxudayl Rmlts 
ChunfcN 4. Yomlurl 2 

Hiroshima X Yokohama 0 

Yakult X Hanshta 0 

Pacific LeagM 

1IW 

21.64. 67 (2-71,67 (610), 64; Jan April. Sw«- 
den dPf.StefanoPescasoi Ida, Italy ,3-4, 63>4, 
64. Cedric PkUbM. Franc*, def. OHver Grass, 
Germany. 6Z7-X 64, 64; Marc Rassri (15). 
Switzerland, def. Mark Woodtarde. Australia. 
64. 1-4. 61 7-4 (7-5). 63; Carios Costa. Spain, 


W 

L 

T 

PO. 

O* 

del. Nicolas Perrira. Venuutfa.64.7-X 6-4.6 

Stobu 

41 

47 

0 

-565 

— 

7.64; Midtari Sthti (4),Oermanv.def.Oflv(er 

Orix 

58 

44 

2 

S58 

1 

Ddattre. France, 7-4 (7-31, 6X 63; Nick lea 

Kbifelsu 

5* 

47 

2 

557 

1 

KuNL Sweden, dri. Chuck Adams. U-X, 7-4 (7- 

Data! 

57 

51 

1 

528 

4 

2), 2-4. 3-4. 6-4.64; Todd Martin (9), US- def. 

Lott* 

45 

43 

1 

,417 

1* 

Guliraume Rooux. Fnmce. 67 (671. 6X6X6 

Nippon Ham 40 

44 

4 

377 

20 

4. 7-6 (7-1); Javier Frana. Argentina, del. 


We d nei d a y* ! Results 
5ribu 4. Lotte 1 
Orix Z Nippon Ham 2 

The Michael Jordan Watch 

TUESDAY'S GAME: Jordan was Wbr-2 
■etfti a walk and o strikeout as the Chattanoo- 
ga Lookouts beat the Birmingham Barons 3-0. 

SEASON TO DATE: Jordan Is hatting J02 
(16- tor -<261 nffli44 runs, 17doubles. one triple, 
three home runs. <7 R Bis. <9 woiks. 110 strike- 
outs and 30 stolen bases In <■ attempts. Ha has 
20* putmtz five assists and TO errors In the 
outfield. 


U.s. Open 


Men’s Slagles 
First Round 

Stefan Edbarg (5). Sweden, def. Cars Jons- 
•on. Sweden. 7-X61.6T; Patrick Rafter, Aus- 


Maric Meridrin. ILS. 64,H<474 (7-31, 60. 

Rodolafte Gilbert. France. delMourtctoHa- 
dad. Colombia, 6-4, 6-Z 6-7 (3-71. 2-4, 7-6 (7-0): 
Amos Mansdari, Israel, def. Emilio Sanchez, 
Soom.t-4.64.34.4a; Andrea Gaadenzl. Holy, 
def. Albert Qxmg. Canada. 7-4 (7-31,6-1,7-4 17- 
3); Todd Woodbridge, Austrollo,deL Paul Kll- 
derrv. Australia 6Z7-& 62; Amtref Chesno- 
kov. Russia def. Javier Sanchez. Spain. 6X2- 
6 7-4 17-2), 62; Vincent Soodea US. del 
Tamer El Sawv, Egypt. 7-4 (7-4J. 4-4. 6-L 62; 
Jtai Courier 1111. US. def. Avon Kiicksteln. 
UA, 6X641 64. 

Utarart* Stogies 
First Round 

Steffi Graf (1). Germany, dot Anne Mall, 
UJL6Z6I; KlmlkoOata (5). Japaadaf. Mka 
Hlrafcf. Japan. 60. 62; Barbara Rlttner, Ger- 
many.def. Marion BoUcgraf, Netherlands, 6Z 
61; Sandra CecddnL Italy, def. Sllke Meier. 
Germany, 6X 61; Sandra Cade U.S. del. 
Marta Angeles Montana Spota.7-5, 63; Anna 
Smashnovaisrael,def. Lori McNeil IU1.U&, 
6Z 6J; Ann Grassmaa U-X. del. Christina 
Singer. Germany, 6X64; Kvokn Noootsuka 
Japan, def. Sgnara Ooofer. Austria 61. 6X 


Katarina Maleeva Bulgaria def. Markets 
Kochta Germany.4-1. 62; Caroline KutWman. 
U.S. def. Sllke FrankL Germany, 6-3. 6-1 ; Ga- 
brle la Sabot Ini IB). Argentina def. Larisa NeL 
land. Lotvta.6X6t; Anke Huber (121. Germa- 
ny, def. rrtno Sablea Romania, 64 6-2; Nicole 
Muns-Jagermaa Netherlands, def. Janette 
Husorava Slovakia 7-5. 61; Patty Fendlck, 
US.def. Katrina Adams. U.X.67 (610). 64, 6 
3; Nicole B reduce. Australia det. Jolene Wa- 
tanaba UJ5. 6X6-4; Llndsav Davenport (41. 
U.S. del. Manta GrossL Italy. 61. 61 ; Nicole 
Arendt. US. def. Clara Wood, Britain. 6i 7-4 
(7-5}; Alexia Dochoume-Bollerat. Franca 
def. Mbiam Oramona Netherlands. 64. 63. 

Paolo Suarez. Argentina deL Julie Steven. 
US. 7-6 17-2), 62; Marianne Werdel, U-S^det 
Ludmila Richter ova Czech Republic. 6X XX 
64; Radka Bobkeva Czech Republic, del. 
Kbnberlv Pa U -3- 3-6. 7-5. 7 -4 (7-31; Amanda 
Cottier 111), South Africa, def. Petra Ritter. 
Austria 61, 7-4 (7-1); Moriooi de S worth. 
South Africa def. Yayuk Basukl, Indonesian 
X64; jona Novotna (7 >. Czech Republic, def. 
Elena Makarova Russia 7-4. 7-4; Pam Sie-I- 
ver, U-S.dd. Beats Ref nstaaier, Austria 7-4 
17-2). 64; Judith Wiemr. Austria def. Ro- 
mano Tedtakusuma Indonesia 62.60; Linda 
Harvey-Wild, US- dal. Adriana Serra-Zan- 
eWL Italy. 60, 64; Julie Hotard. France, def. 
Petra Langrova Czech Republic. 61. 3-6 61 

Ruxondra Drngomlr. Romania def. Kristie 
Boogert. Netherlands, 7-4, 62; Mono Enda 
Jtmaadef. Taml Whlttlnger-Jones. US-64, ^ 
4 (7-4); Eugenia Manlokova Rusda def. Hel- 
en KelesL Canada 66 6Z ML retired; Zina 
Garrison Jackson (I01.ua.dtl. Kristine Rad- 
ford. Australia 61 64; Magdalena Maleeva 
(IS). Bulgaria def. Chando Rubln.ua. 6X6 
is Shaun Stafford, US- oef. Nooho Sawo- 
matau, Japan. 2-4. 7-4 (7-3). 64. 




The AP Top 25 


The teams In the college football poll, with 
Brat-place votes In earantbesa. total Points 
based an » point* for a Aral place vote 


t hr ough one point tar a lsth Mace vote, and 
ranking In the previous pell: 

Pti Pv 

1. Florida (14) 1,456 1 

Z Nebraska (23) 144* 4 

X Notre Dame (13) 1,417 3 

4. Florida St (81 1,353 3 

5. Michigan 11) 1254 5 

6. Miami (11 1.3)1 A 

7. Arizona (2) 1,144 7 

X Cotarodo 1,075 8 

*. Penn S>. 1,007 * 

la Wisconsin V37 10 

1L Alabama (11 921 t2 

1Z Auburn *04 11 

IX Tennessee 112 13 

14. UCLA ««7 14 

IX Texas AXM 57? 15 

16 Oklahoma 553 14 

17. Southern CtS 545 17 

IX North Carolina 523 T9 

1*. Texas 503 18 

2Z Ohio St. 457 20 

21. Virginia Tech 258 22 

2Z Illinois 24* 21 

23. Vta sh tagton IBs 23 

24. Clem son 114 25 

2X Stanford *5 — 

Others receiving votes: Georgia 91, 
Brigham Young •», Virginia 6*. Boston Col- 
lege 4 Kansas State 41. Ca IHomta 31. Michi- 
gan State 2X Syracuse 21. MltNssIppi Slate IX 
West Virginia 16 Kansas U South Carolina X 
Arizona State 6 Indiana X Georgia Teai 6 
Louisville 6 Arkansas X Utah X Baylor Z 
Kentucky 1, Western Michigan 1. 


ENGLISH PREMIER LEAGUE 
Tuesday* Results 
Crystal Palace Z Leeds 2 
Everted 1. Nottingham Forest 2 
Ipewlch I. T ot ten h um 3 


BASKETBALL 

tiatleaal Basketball Association 
CHARLOTTE— Signed Darrin Hancock, 
forward, ta multtyeor contract. 


% 


British Runner Fails 2d Drug Test p 

MONTE CARLO (AP) —The result from the second drug test 
of the British runner Diane Modahl was positive, showing an 
“astounding’’ testosterone ratio, of over 40-1, the International 
Amate ur Athletic Federation said Wednesday. • l \ : 

Modahl, an 800-meter runner, faces a four-year ban and Britain’s 
women’s tram could be ejected from the World Cup meeting in v 
London next week. The IAAF said that “the B sample analysis 
confirmed the data obtained in the first, or A, analysis.” ModahTs 
first sample, taken at ameet in Lisbon on June 18, also contained ah - 
excessive amount of testosterone, which can en h a nc e performance. 

“Diane Modahl, in both her A and B samples, tested positive 
for extraordinarily high levels of testosterone/ epitestosterone. •' 
surpassing the 40-1 marie, compared with the 1-1 normal,” said an - \ 
IAAF spokesman, Chris Winner. 

1 / 

China Says Japan Settles Games Rift : 

BELTING (Reuters) — China’s State Sports Commission said .s*’ 
on Wednesday that Japan, in the face of Beijing’s boycott threat; 
had withdrawn an invitation to Taiwan's president to attend die 
Asian Games in October. i 'l. 

The commission reaffirmed that China would stay away from 
the games in Hiroshima if Lee Teng-hui accepted the invitation /'" 
from the Olympic Council of Asia. Council sources said Lee’s 
invitation would not be withdrawn but he would probably be s .‘ r ‘ 
asked to travel to Hiroshima under documents issued by Japanese 4^ * 
authorities, making no reference to his rank or position. - 

“According to our information. Japan has withdrawn the invi- 
tation to Lee,” said a Chinese spokesman. “If Lee is there, whether «- 

as president or as a simple spectator, we will not attend.” 

A Chinese boycott would be a serious blow to the Games. China : - 

plans to send 570 athletes and 215 coaches and officials to 
compete in 31 of the 34 events. ; 

Knee Surgery Set for Bayern’s Papin ; 

BONN (Reuters) — Bayern Munich's French striker Jean- 
Pi erre Papin is to have a knee operation on Thursday and will miss 
his country’s European championship qualifier against Slovakia 
next week, the Ge rman sports agency StD reported Wednesday; 

Papin was named to France’s squad for the match in Bratislava 
next Wednesday, but the report said he would be sidelined far two 
weeks following a cartilage operation on his left knee. 

For the Record 

Chris Dudley, the center who signed a six-year contract with this 
Portland Trail Blazers on Monday worth an average $4 million £ 
year, had the deal voided on Tuesday by the National Basketball 
Association, which claimed that it violates salary cap rules. (AP) 




GOLDEN STATE— Re-staned Keith Jen- 
nings. guard. 

M.Y. KN l CKS— Re-staned Herb Williams, 
center. 

FOOTBALL 

Nattoatf Football League 

ARIZONA— Signed Kevin Knox, «tde re- 
ceiver; Chris Swartz, quarterback; Perry 
Carter, comertock. and Darryl Hardy, line- 
backer, to the practice squad. 

ATLANTA— signed DavM Richards, guard. 

Cleveland— S igned Carlson Leomitl. 
Andv McCollum and Jed DeVries; of f ensive 
linemen; Marcus Lee. running back : and PJ. 
Killian, lliNbocker, to the practice squad. 

DALLAS— Staed Coleman Bell and John i 
DoWs. Hgtit ends; Tony Richardson, running 
boduond Darren StudsHii. safety, to Ihe prac- 
tice squad. Ag r e e d to terms with Toby Mills, 
center. 

□ETRarT-^5Ton«rMlkr Wells, defensive " 
end. and MJIlan Mack, coraerhock. Waived 
Mock Trovts. defensive lineman. Sinned John - 
Ogtesby.ninnlnebock;JamesWllsan4tefen- 
slveend; and Rkhard Woodley, vride receiv- 
er, to the practice squad. 

GREEN BAY— Claimed Gory Brown, of- 
fensive tackle, off waivers from Pittsburgh- 
Waived Darryl Moore, offensive tackle. 
Signed Bill Schroeder, wide receiver; Charles 
Hope, guard; B er na rd Carter, linebacker; 
and Jay WTinan& defensive end. ta the prac- 
tice squad. 

INDIANAPOLIS— Waived Paul Justin, 
quarterback; Rodney Culver and William 
Houston, running backs; John Roy, offensive 
tackle.- KIbp Vickers, offensive lineman: 
Lance Teichelman. defensive lineman; Ken- 
ny MeEntvre and John Reece, defensive 
backs: end Devon Pointer, vride receiver. 
Re-shmed Ed Toner, running back; Wlllb Pe- 
guesx defensive end. 

Sinned Paul Justin, quarterback, and Kipp 
Vickers, offensive lineman, to Hie p ra ctice 
souod. 

LA. RAMS— Put Ernest Jones, tlnebodcer. 
on Injured reserve, waived Cleveland Gory, 
running bock; Ricky Brody, ttghtend; Darryl 
Henley, coreerback; BID Schultz, offensive 
lineman; More Boulte, defensive tackle, and 
Oeral Bovkin. sototy.Staned Ron Middleton, 
light end. Released Travis McNeai. tight end. 


Distant Rumblings 
In Baseball’s Talks 

The Associated Pros 

NEW YORK — With both sides seemingly entrenched, 
there were a few distant rumblings in the stalled baseball talks. 

The sides were to meet separately with mediators on 
Wednesday, the 20th day of the strike. There has been no 
movement at the ba rgaining table for months, but away from 
the table there were rumors Tuesday night of talk. 

Management has talked directly with the union outside the 
formal bargaining process but the contact did not lead to any 
progress, said a source, who asked not to be identified. 

The Colorado Rockies' chairman, Jerry McMorris, and the 
Toronto Blue Jays' president, Paul Bees ton, spoke witffthe 
union in recent days, the source said. Eugene Oiza, the 
union’s No. 2 official, said the source was inaccurate. 

Richard Ravitch, the owners’ negotiator, said that to his 
knowledge, no informal talks had been held. 

The U.S. sports television channel ESPN reported that 
representatives of the sides had talked secretly by telephone in 
recent days. Ravitch called that report “nonsense.” 

Meanwhile, owners canceled a quarterly meeting set for 
next week and the rides reached one small agreement — to 
postpone the Aug. 31 deadline for postseason rosters. The 
deadline will be set within 48 hours of any settlement 

But owners won’t be meeting in Detroit, as had been 
scheduled for next week. 

“As long as the players are on strike, the clubs will devote 
all their efforts to resolving the dispute," said the acting 
commissioner. Bud Selig. “Many owners are involved in the 
negotiations and everybody agrees it would serve no useful 
purpose to spend a couple of days in meetings and divert 
attention from the compelling task at hand.” 




























INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPTEMBER 1, 1994 


Page 19 



SPORTS 


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Js Olympic Revolt Brewing? 

IOC Fears Athletes May Follow Baseball Players’ Lead 




International Herald Tribune 

P ARIS — The International Olympic 
Committee was introduced Wednesday to 
the striking American baseball players, who 
make better than $1 milli on annually and are 
walking the picket line for the right to make 
more. Their rebellion —-and here the speaker 
might have been a spy, poking at a map — is 
surely headed the Olympic committee's way. 

“When will it arrive?” the speaker was 
asked later. 

“I think we have two years' time,” said 
Jacques 

Rogge, the > an 
IOC member 2" 
from Belgium. Tiiomsen 
"Up to the 

1996 Games in Atlanta, I can't foresee many 
problems. But if there is no solution in time 
for the Sydney Games in 2000, then I think 
we're in trouble.” 

The trouble, he told the IOC Congress 
meeting here, is that the greatest Olympic 
athletes have had just about enough of bang 
told what to do. An hour after he had made 
his speech, he expounded on the parable of 
the American baseball players. 

“There is a feeling on behalf of your base- 
ball players that the owners earn much more 
money than they actually do." Rogge said. “I 
believe it is a matter of trust. The players 
don’t trust the owners. If a real transparency 
were established between the owners and the 
players, I am sure that the players — if they 
realized there were really big problems with 
the franchises — the players would try to 
help, and they would even scale down their 
own salaries if they had to.” 

“They are not stupid," he added. “If they 
realize less money really is being generated, 
they won’t kill the system.” 

I T IS as sensible an observation as can be 
made about the otherwise senseless base- 
ball strike. But he points out it is not just 
America's problem; it is the IOC’s new pre- 
dicament. 

Numerous speakers over the first two days 
of this Congress have requested a greater 
voice fen the athletes. Even Primo Nebiolo, 
ruler of the International Amateur Athletic 
Federation, was deciding Tuesday that “the 
athletes deserve a stronger voice.” 

Of course. Nebiolo has no problem grant- 
ing athletes their “voice,” because the mere 
voice is easly ignored. He added, “I believe 
the athletes are ready to make this contribu- 
tion." 

Which is, of course, the most condescend- 
ing and patronizing way of granting those 
rights that athletes might soon seize by revolt. 

Rogge believes the voice of the IOC ath- 
letes commission just won't cut it. He says the 
athletes must be given real power — voting 
power — on selected issues. And he thinks the 
athletes must choose their leaders carefully. 


with the understanding that many of them 
lack the time, inclination or education to deal 
with political questions. 

He warns that income bad better be fim- 
neled back to the top-class performers who 
produce the majority of the Olympic revenue. 
In return for such full-scale membership 
within the Olympic movement, athletes 
should be held to a code of conduct. 

And if the athletes aren’t invited inside? 

“If we don’t do it soon, if we don’t do it 
fast, we will see counter-powers developing,” 
Rogge said “We may have athletes’ unions.” 

He leaves it for us to connect the dots of his 
argument: By the year 2000, if the athletes are 
feeling unheard and unhappy, they may be 
threatening to strike. 

Rogge himself competed in three Olympics 
as a yachtsman for Belgium. He is an orthope- 
dic surgeon, is fluent in six languages and 
presides over the association of European 
National Olympic Committees. As he pleads 
for such unprecedented cooperation between 
Olympic administrators and athletes, the con- 
versation turns to the matter of trust. 

I OC MEMBERS reside in a luxury hotel, 
yet complain when athletes refuse to live as 
one in the noisy, un-air-conditioned Olympic 
village. IOC members want the athletes to 
pursue the Olympic ideal without corruption 
of financial reward yet those same IOC mem- 
bers are leaking S16 million on this meeting. 

Rogge tried to argue: “It’s a little unfair to 
fix on this $16 million figure when you see the 
top baseball players earning probably three 
times ...” 

Interrupted: He was trying to say that sport 
is a world of high prices — but the truth is. the 
IOC does itself no favors comparing its bud- 
get to the decadence of American baseball As 
Rogge himself said that is a road to be 
avoided. So we hammer away at the SI 6 
milli on figure because the IOC seems blind as 
to where it leads. How can athletes be held to 
acodeof conduct when the IOC is seen to be 
wasting millions on its own gratification? 
S milmg , he relented 

“I have always pleaded for a sobering pro- 
cess,” Rogge acknowledged. “Not for the IOC 
only, but for sports leaders in general We need 
to &ow an example. We need a little sobering 
in our approach; some sobering would help us. 
If we show the example of bong sober, only 
then can we tell the athletes that they’ve been 
exaggerating their problems.” 

He said this, unfortunately, not on stage 
but in the privacy of an interview. But this 
was a be ginning, and he went on. 

“We should show moral virtues,” the new 
voice said “You only have authority if you 
deserve it Any authority can be imposed in 
the short term, but over the long term, the 
authority you have is only what you deserve. 
We must admit that we are losing authority 
over the athletes.” 


A 20th-Birthday Triumph for Medvedev 


Fernandez , 
Seeded 9th, 
Avoids Upset 


Conyiled by Our Suff From Ditpaidia 

NEW YORK — Andrei 
Medvedev celebrated his 20th 
birthday by scoring an impres- 
sive first-round victory at the 
U.S. Open ou Wednesday. 

The eighth-ranked Ukrainian 
quickly dispatched Gilbert 
Shaller of Austria, racing 
through the third set in 21 min- 
utes to complete a 6-3, 6-4. 6-0, 
victory over his 35th-ranked op- 
ponent. 

”1 don’t like to celebrate my 
birthday very much," Medve- 
dev said. “But I do like presents 
very much." 

“Now when you meet ihe 
girls I can say 1 am 20 and not a 
teenager,” joked Medvedev. 

The budding Russian star 
Yevgeni Kafelnikov, who has 
rocketed from I48th in the 
world a year ago to 11th. made 
a successful U.S. Open debut 
on center stage. 

The 1 4th- seeded Kafelnikov, 
playing his firsi-ever match at 
the National Tennis Center, 
opened the Stadium Court pro- 
gram with a 7-6, 7-5, 6-3 victory 
over the Dutch Davis Cup play- 
er Jacco Eltingh. 

On the Grandstand, Mary 
Joe Fernandez, the women's 
ninth seed, escaped upset by the 
narrowest of margins. 

Fernandez needed a third set 
tiebreaker to hold off her fellow 
American Patty Fendick, 6-2, 2- 
6, 7-6 (7-4), and advance to the 
third round. 

There should be a party at- 
mosphere in the entire Medve- 
dev family on Wednesday. 

Just a short time after the 
Ukrainian took his place in the 
men’s second round, his older 
sister. Natalia Medvedeva, up- 
set the 16th-seeded American 
Amy Frazier, 6-2. 6-7. 6-4, to 
reach the third round at the 
Open for the first time. 

The 42d -ranked Medvedeva 
squandered a 5-2 second-set lead 
by spraying shots all over the 
court. But she regained her com- 
posure and scored the crucial 
service break in the ninth game 



Tim Clan. AgcntV FniKi-Pnrvc 

Yevgeni Kafelnikov of Russia grimaced, but won on Wednesday in his U.S. Open debut. 


of the third before bolding serve 
at love to end the match. 

Medvedeva, 22, broke into a 
smile and pumped her fists into 
the air upon reaching the third 
round of a Grand Slam event 
for only the second time in her 
career. 

“I think it is great." Medve- 
dev said of his sister's victory. 
“She's been working very hard. 
1 hope she can do well here." 

Two of last year’s surprise 
semifinalists went down in the 
first round on the men’s side. 


The Australian Wally Masur 
fell to David Witt of the United 
States. 6-2. 3-6. 7-5. 6-1. And 
the 27tti-ranfccd RusMan Alex- 
ander Volkov, who was the 14ih 
seed last year, was ousted by the 
29th-ranked Czech Karel No- 
vocek. 6-2. 3-6, 6-1. 7-5. 

On Tuesday night, Jim Cou- 
rier showed that he is a real 
threat to win the Open, even if 
he had considered skipping it. 

Courier came out blazing 
against Aaron Krickstein to win 
6-3, 6-4. 6-4. 


“I didn’t have the fire at Indi- 
anapolis." said Courier, seeded 
No. 11. “That's what 1 went 
searching for, to see if l still had 
that fire. It's there. It was just 
hiding. That was one thing 1 
was looking for, win or lose, 
whether I had the fire." 

“That was a perfect first- 
round match for me," he added. 

Todd Martin, the ninth seed, 
punched the air with a right 
uppercut to punctuate his five- 
set victory in the afternoon. He 
was lucky he didn't hit himself. 


The American did everything 
to knock himself out in the firsL 
round. He lost the first two sets 
and sprayed three unforced er- 
rors to set up match points in 
the fifth set against the bespec- 
tacled and decidedly unspectac- 
ular Guillaume Raoux. 

Raoux, a Frenchman who 
turned the hard-court match 
into a clay-court baseline duel, 
took all the gifts Martin offered 
yet still couldn't quite win. No 
matter how many chances 
Raoux had, there was a sense in 
watching the match thaL he 
would find a way to lose and 
that Martin would find a way to 
win. 

That crystallized in the Fifth 
set when Martin served, trailing 
4-5, and he faced three match 
points after errors. On the' first, 
he drilled a perfect backhand 
pass crosscourt to save the 
match: on the second. Raoux 
dumped a forehand into the net 
after a deep forehand by Mar- 
tin: and on the third, Raoux 
slapped a forehand wide. 

In the tiebreaker, Martin 
slugged a forehand return to 
close out the match. 6-7 (7-4). 4- 
6. 6-3, 6-4, 7-6 (7-1). 

Taking an easier route into 
the second round Tuesday was 
No. 4 Michael Such of Germa- 
ny. who beat Olivier Delaitre of 
France. 7-6 (7-3), 6-3. 6-3. 
No. 15 Marc Rosset of Switzer- 
land, seeded to play Martin in 
the quarters, struggled to beat 
the Australian Mark Wood- 
forde 4-6. 1-6, 6-3. 7-6 (7-5), 6-3. 

Richard Krajicek, unseeded, 
had one of the more- curious 
victories as he blew a 6-0 lead in 
a fourth-set tiebreaker, lost, the 
set, but still beat Jan Siemerink. 
7-6 (7-2), 6-4. 6-7 (7-2). 6-7 ( 10- 
8), 6-4. 

Among the women, Lindsay 
Davenport, at No. 6 the high- 
est-ranked American in the 
women's draw, raced into the 
second round, losing just two 
games in her defeat of Marzia 
Grossi of Italy. 6-1, 6-1. ■ 

Eighth-seeded Gabriela Sa- 
batini, the 1990 champion who 
is in the midst of a 39-match 
title drought, was even more 
impressive in her opener. 

The Argentine, who has not 
won a tournament since the 
1992 Italian Open, crushed Lat- 
via’s Larisa Neiland, 6-0, 6-1, in 
just 40 minutes. 

■: Renter. AP! 


CROSSWORD 


14 By its very 
nature 




ACROSS 

i Bombay V.I.P 
< Hacienda part 
io Money grp. 

13 With 16- Across, 

financially O.K. 19 Hemmed 


i« See T 3 -Across 
it Lab containers 




r 



20 James Murray 
work; Abbr 

21 Air hero 

24 Pro 

23 Kind of violet 

29 Hawaiian 
verandas 

31 Cousinof a 
mile 

32 inseparable 

33 Lake 

(Mississippi's 

source) 

34 German T 

33 Musical ending 

36 Composer with 
a clavier 

37 MtSSl55ippi 
waterway 

39 Gland finale? 

40Der 

(Adenauer) 

41 Coll. sra. exam 
«2 Sophisticated 
44 Scare word 
43 jungle 
squeezers 

46 California team 

47 Approve 
49 The nth 

degree? 
so Festival time 
si Postal abbr 

52 Soviet workers' 
cooperative 

34 Robin's 
transport 

sa See 63- Across 
62 Cost 

containment 

measure 

83 With 58- Across, 
blockaded 

64 Firecracker's 
path 

65 Furvhouse cries 

66 Pretender 


DOWN 

1 Green 

2 'The Daba 

Honeymoon" 

a Write a bit 

4 Former ova 

SAbOlard. e g. 

6 Rushed 

7 Balaam's beast 

8 See 9-Down 

9 With B-Oown. 
a reply's start 

10 Banned 
chemical 
compound 

,ii Had a little lamb 

12 Lettuce variety 

14 Agenda listing 

15 German import 

i* See 45-Down 

21 Legendary 
Arabian hero 

22 Make a list 

23 Doer 

23 With a bow. 
musically 

26 Radiator fluid 

27 Faster than 
adagio 

28 Least remote 

30 Late apartheid 
opponent 

31 Appraises, with 
*up" 

as Sierra Maestra 
country 

38 Flaherty's “Man 
of " 

43 Takes the 
elevator, 
perhaps 

*3 With 19-Down, 
predeparture 
words 

4B Author 
Bombeck 



Pinzia By Manny Natmmkv 

@Netc York Tunest Edited by Jf 'ill Shorts 


48 Make ready. 

informally .. 

32 “Poor pitiful 
me!" 

53 Prefix with type 

54 Merit badge 
grp. 

55 Swiss liver 

56 Hosp. attention 
67 Word of disgust 

59 Both Begleys 

60 "Huh!" 

61 Sin 


Solution to Puzzle of Aug. 31 
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r 

INTERNATIONAL HERALD TRIBUNE, THURSDAY, SEPT 


swum 


Et 1, 1994- 


ART BUCHWALD 


Cars as Excess Baggage 



Buchwald 


Ayf ARTHA'S VINEYARD, 
J.VX Massachusetts — What 
happens on Martha's Vineyard 
should not usually be any- 
body’s business — except that 
Princess Di was herd and Presi- 
dent Clinton is here now, and 
therefore everyone must be in- 
formed of what our problems 
are. 

The biggest complaint on the 
island this year is that because 
of the presi- 
dent, the num- 
ber of automo- 
biles coming 
over from the 
mainland has 
quadrupled. 

Scientists from 
Woods Hole 
report Mar- 
tha's Vineyard 
is sinking into 
the sea from 
the weight of all the cars. 

Our group was discussing the 
problem on South Beach the 
other day, and there were solu- 
tions galore. 

Frankfurter had one of the 
better ideas. “What we should 
do," he said, “is buy a German 
World War II submarine and 
station it off West Chop. When 
a ferry boat loaded with cars 
hoves into sight, we fire a shell 
over its bow. If it refuses to turn 
back to Woods Hole, we sink 
iL” 


No one objected to the idea, 
though Renquist pointed out it 
wasn't that easy to find a good 
German submarine crew from 
World War II anymore, and 
even if you could the average 
age would be 85. 

Klosterman made a sugges- 
tion. “Suppose we build a six- 
lane highway from Vineyard 
Haven to Gay Head. People 


Pilfering at Woodstock 

The Associated Pres* 

SAUGERTIES, New York 
— Thieves posing as employees 
of the company that backed 
Woodstock '94 walked away 
with 528,000 in curtains that 
covered the speaker towers. 


would drive off the ferry and 
then onto the highway. There 

t j i ■ u J 


would be no s 
warning that 
ended, and 
bile would go 
sea. 


at Gay Head 
highway had 
ine’s automo- 
ig into the 


“Where do we get the money 
for the highway?" someone 
asked. 

“We take it out of Clinton's 

health bill," Sampson said. 

“I think the health plan 
should be used differently," ob- 
jected Esther BonappetiL “Sup- 
pose we offered people a choice 
of complete health insurance or 
a one-month parking place at 
the A&P. I'm sure more than 50 
percent would go for the park- 
ing place." 

□ 

1 didn't want to be left out. 
“This is what I think . Ferry 
people should inform all stand- 
by passengers that they will be 
guaranteed a seat on the next 
boat from Woods Hole, but not 
tell them that instead of Oak 
Bluffs they would be taken to 

fi iian I An wrnn Bay." 

“As long as you want them,” 
Freedman, a lawyer, added, 
“there is nothing wrong with 
it." 

“Suppose," said Arpd, “we 
opened the wrong end of the 
ferry when it docked, and in- 
stead the cars driving on to land 
they went splash into the 
sound?" 

Victor volunteered, “Our 
problem cannot be solved by 
us. It must be resolved by Presi- 
dent Clinton, since all his White 
House cars are clogging up the 
island. Clinton must declare the 
island a disaster area and call 
out the 101st Airborne to keep 
people from using automatic 
weapons on each other while 
caught in a traffic jam at Five 
Comers" 

Everyone in the group be- 
lieved something had to be 
done to restore the island to its 
former beauty. The only dis- 
agreement was what Wire- 
hdmer said: “I think the rule of 
thumb is our cars should be the 
last ones permitted on the is- 
land. After that, it's every 
Honda for berself." 


Chockablock Campers in Bucolic England 


By William R Schmidt 

New York Tima Service 
/^HIDEOCK, England — From 
V-'the steep hills that frame this an- 
cient village of stone cottages, the 
views along the Dorset shore are 
among the most spectacular in Eng- 
land, a vast and — up to a point — 
unspoiled panorama of sea and sky 
and rolling green valleys. 

But these days, in high vacation 
season, the dose- 


up view of the 
southern coast 
here is anything 
but pastoral. 

From Durdle 
Door to the River 
Exc, shore high- 
ways are chocka- 
block with tourist 
traffic, choked 
with lines of over- 
heated. cars and 
camper vans 
bound for the 
tumble of holiday 
camps that 
crouch just above 
the beaches. The 

camps — many of them marked by 
row upon row of bright aluminum 
house trailers standing out sharply 
against the wild landscape — are Dor- 
set’s biggest source of tourist revenue, 
drawing tens of thousands of urban 
vacationers each summer. 

But in the last few years, the camps 
and trailer parks have also become the 
object of growing political controver- 
sy. They are vilified by rural preserva- 
tionists and by Dorset residents, who 
say they are not only ruining the peace 
of the countryside but also spoiling 
some of England's best scenery. 

At the root of these arguments is 
one of Britain's more emotional and 
enduring political debates: to whom, 
exactly, does rural Britain belong? 

Cen Fisher, the president of the 
Chideock Society, a local residents' 
group in this village of 600, says it 
belongs to the year-round residents. 
“The simple fact is, they are hideous, a 
mar on the landscape and cause of 
chaos to the local community,” he 
complained of the tourist trailers. 

In the summer, he said, the flood of 
.people staying at the Golden Cap 
Holiday Camp, just outside town, out- 
number the local residents more than 
three to one, jamming the narrow one- 
lane roads that weave from town. 

But Martin Cox, the owner of Gold- 


5-a-.^ SS 


en Cap Holiday Camp, says he thinks 
the problem has as much to with snob- 
bery as anything else. “Some people in 
town look down their noses at our 
clients," said Cox. whose trailers are 
neatly arranged on a well mown hill- 
side; overlooking the sea. 

“If it wasn't for what we have here, 
there would be a lot of people who 
wouldn't have any other chance to 
stay along this beautiful coastline.” 

Commanding 



0,;. ENGLAND 

: 

' f ' ; \v J l NORFOUf 4 r 
' WALES ( 


The New YcA Tiine* 


some of the most 
ran liar vistas 
long the English 
coast, from Wales 
and Dorset to the 
shores of Nor- 
folk, many of 
Britain's holiday 
camps are be- 
yond the reach of 
planning authori- 
ties, who would 
like to force them 
to relocate. The 
camps were es- 
tablished in the 
years just after 
World War II, be- 
fore Britain adopted restrictions on 
coastal development. 

But since then, the camps have 
slowly and inexorably expanded, 
some of them turning from summer- 
only vacation spots to nearly year- 
round tourist facilities. 

In an angry column last summer, 
Simon Jenkins, the former editor of 
The Times of London, described the 
creeping expansion of these seaside 
camps as “the greatest threat to the 
countryside since (he war” because 
they were becoming year-round, per- 
manent settlements, beyond the reach 
of planning control. 

On one side of the debate are rural 
preservationists and others who react 
visceraily to any perceived threat to 
the tranquillity of the countryside, re- 
garding it as a kind of assault on their 
vision of pastoral England. 

But at the same time, there is grow- 
ing pressure from those who want to 
see improved tourist facilities in the 
countryside, ranging from better 
roads to more sites for trailers and 
campers. By some accounts, as many 
as 13 milli on Britons now make use of 
camper vans or trailers for their annu- 
al vacations. 

Local government officials fmd 
themselves in the middle. “Were we 



foudttn Player for tta New Ywfc Timed 

Camps bring in money, but many residents consider them eyesores. 


starting afresh, we'd never allow these 
caravan parks to be where they are," 
said John Lode, the chairman of the 
Development and Planning Commit- 
tee for the West Dorset County Coun- 
cil. “But since they are there, since 
they make a contribution to the econ- 
omy, and since we cannot force them 
to go, the best we can do is to try to 
make them adapt" 

County officials are now working 
with trailer park owners to mitigate 
their impact on the landscape. One 
proposal has been to encourage the 


campsite owners to turn each trailer 
on its axis so that they would run 
parallel to the view from scenic over- 
looks. The county has proposed plant- 
ing foliage in the campsites, to help 
screen them out of the coastal scenery. 

“For government, it’s a real conflict 
of interest," said David Karman. an 
architect who has negotiated with 
both the camp owners and local 
groups opposed to them. “The trailers 
are a real eyesore, but, on the other 
hand, we want to encourage tourism, 
too” 


PEOPLE 


Paternity Suit Dropped 
Against Boy George 

A paternity suit against the 
pop star Boy George has been 
thrown out of court in London < 
after the woman who claimed 
he had fathered her child do- 
dined to submit to DNA test- 
ing, “We find insufficient evi- | 
deace before us to make a ' 
finding on the issue of paterni- 
ty,” the judge ruled “The whole 
thing is ridiculous and hilarious 
— and miraculous if true,” said 
the singer, who describes him- 
self as a lifelong homosexual. 


The Grammy award-w innin g 
rapper Dr. Due has received an 
eight-month j ail sentence for vi- 
olating probation. Dr. Dre, 
whose real name is Andre 
Young, pleaded no contest to 
drunken driving charges. Last 
year, he was convicted of bat- 
toy for punching a man in the 
face and breaking his jaw. The 
judge who sentenced him also 
ordered him to pay a SI ,000 
fine and attend an alcohol edu- 
cation program. 

□ 

Amid continued speculation 
about his future in Guns N 1 
Roses, one of hard rock’s more 
volatile bands, the rhythm gui- 
tarist Gflby Clarke is laying the 
foundations for a sdo' career. 
Clarke has just released his first 
solo effort, “Pawnshop Gui- 
tars,’’ to generally favorable re- 
views and is preparing for a 
world tour. Guns N’ Roses, 
meanwhile, is off the road and 
all the members except Clarke 
are preparing material for a new 
album. 

□ 

Lena Horne, 77, retired after 
her 1981 Broadway show and 
the tour that followed. But she 
gave a concert at the JVC Jazz 
Festival, lured into pedgnmag 
again for a tribute to decom- 
poser BiDy Strayhot ;i,Yeincfcled 
to a recording, “We’OiSggroT 
gether Again" “I'm reaDSpur- 
prised anybody wants topear 
it,” Home said “I thoqgl&tfac 
only people who would my the 
record would be for epj/jtor 
music.” She will give too con- 
certs next month at (Sttnegje 
HaU in New York. W 




ttt 


WEATHER 


WEEKEND DESTINATIONS 


Europe 


Forecast for Friday through Sunday, as provided by Accu-Weather. 



\ II 

jig 


R^UnammUr nfflUnwooriily fSSSHmy Ig^jHaavy 

Mmnm EJwflC*! PM!** IP 6 " 


North America 
Near- record coolness will 
settle Into the Great Lakes 
stales and Northeast this 
weekend. Temperatures wffl 
begin to moderate Monday. 
Aside tram Florida, the 
Southeast will have dry, 
pleasant weather this woefc- 
anO. The central Plains ami 
Rockies will have warm 
weather this weekend. 


Europe 

A soaking rein will settle 
southward across Italy Fri- 
day into Saturday. Franktuit 
through Warsaw will be coot 
with clouds gradually giving 
way to soma sunshine by 
Sunday. London end Paris 
wW be cloudy and cool Fri- 
day, then dry, cool weather 
Is fikely over the weekend. 


Asia 

Tokyo will have warm and 
humid weather Friday Into 
the weekend. Seoul to 
Shanghai will have hot, 
humid weather Friday kilo 
the weekend. Cooler weath- 
er wll reach Bering oxer the 
weekend. Typhoon Gladys 
trill bring kicaJty heavy rains 
and high vmds U) southeast 
em China Friday. 


Asia 


Today 

Tomorrow 


Mph 

Low 

W High 

Low W 


OF 

CtF 

OF 

Cfi 

Bangkok 

31*8 

34/75 

ah 32*9 

24/79 1 


30*5 

22/71 

ah 31*8 

23/73 pc 

HongKong 

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25/79 pa 32*9 
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NnMi 

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27*0 1 

5 >Ck 4 

31/88 

22/71 

pc 31WB 

22/71 pc 

StangM 

33*1 

24/75 

pc 33*1 

28/79 pc 

ssr 

32*8 

32*9 

34/15 

23/73 

pc 32*B 
PC 32*9 

23/73 1 
23/73 pa 

Tokyo 

30*6 

22/71 

pc 25*2 

21/70 pc 

Africa 


30*0 

23/73 pc 20*4 

22/71 pc 

Cap* Town 

23/73 

15*3 

* 21/70 

10/50 pc 

CnMfturca 

26/79 

10*4 

I 28*2 

19*6 pc 

Hjtrar© 

19*0 

11 £2 

1 22/71 

12/53 pc 

Lagoa 

27*0 

23/rj 

lh 28*2 

24/75 ih 

Nbrabi 

21/70 

11*2 

ah 22/71 

12/53 pc 

Torto 

33*1 

22/71 

9 33*1 

21/70 a 


SATURDAY 



SUNDAY 


Al foments 

byAoeu-WaafoeftlrkatW 


Europe and Middle East 
Location Weather 


Europe and Middle East 




North America 


Cannes 

DeauvBe 

Rimini 

Malaga 

Cagtari 

Faro 

Pkoeus 

Corfu 

Brighton 

Ostend 

Schevenfogen 

Sytt 

Izmir 

Tel Aviv 


sunny 

dourer 

sunny 

sunny 

sunny 

sunny 

sunny 

sunny 

cloudy 

showers 

showers 

ram 

putty sunny 
sumy 


High 

Low 

Water 

WM 

Wind 

Location 

Weather 

High 

LOW 

WMSr 

WM 

Temp. 

Temp. 

Temp. 

Heights 

Speed 



Tamp. 

Temp. 

T SF 

Haights 

OF 

C/F 

OF 

(Mama) 

(kph) 



CZF 

C/F 

(Mama) 

27/80 

IB/64 

26/79 

1-2 

NW 

10-20 

Cannes 

sunny 

24/75 

16/61 

28 m 

1-2 

20MB 

12/59 

18/84 

2-3 

W 

25-45 

Deauvile 

partly sunny 

21/70 

14*57 

17/82 

1-3 

29/84 

21/70 

27/80 

0-1 

N 

12-25 

Rimini 

simy 

28/82 

16/64 

27/80 

0-1. 

2084 

22/71 

27/80 

0-1 

W 

12-25 

Malaga 

sumy 

31/88 

'23/73 

27/80 

0-1 

3091 

24775 

27/80 

0-1 

W 

10-20 

Cagtarf 

sumy 

32/89 

23(73 

27/BO 

51 

2679 

17782 

20/68 

0-1 

NW 

10-20 

Faro 

clouds and aun 

28/82 

21/70 

19/66 

0-1 

33*1 

22/71 

27/80 

0-1 

NW 

12-25 

Piraeus 

sunny 

32/89 

23/73 

27/80 

0-1 

32/89 

22771 

27/80 

0-1 

NW 

1525 

Corfu 

sunny 

32/39 

23/73 

27/80 

0-1 

20*8 

13/55 

19/66 

1-2 

N 

30-50 

Brighton 

pertly sunny 

22/71 

13/55 

18/64 

1-3 

20/88 

16/BI 

.18764 

1-3 

W 

2040 

Ostend 

doudy 

21/70 

14/57 

18/61 

1-3 

20/88 

16/61 

17/62 

1-3 

W 

2550 

Schevemngen 

cloudy 

21/70 

14/57 

16161 

1-3 

21/70 

16/81 

16/61 

1-2 

W 

2040 

Sytt 

doudy 

21/70 

13/55 

15/59 

1-3 

33/91 

22/71 

28/82 

0-1 

NW 

1525 

DTI IT 

sunny 

34/93 

22/71 

28/82 

1-2 

30/86 

23/73 

28/82 

1-2 

SW 

20-35 

Tel Aviv 

sunny 

31/88 

23/73 

28/82 

1-2 


NW' 12-25 
W “ 20-40 


N 

W 

W 

W 


12-29 

1225 

1000 

12-22 


NW 12-25 
NW 15-30 
NW 15-30 
W 20-40 



W 

W 

N 

SW 


30-00 
20-40 _ 
1525 
15-30'. 


(Srchocags 

ASMS 

B utt on 

Qfoaga 


Middle East 


Latin America 


Oceania 



Today 

Tomorrow 


Today .. 

Tomanow 


Mali Low W 

Kish Low W 


M0> 

Low W 




OF OF 

or or 


OF 

OF 

OF 

Cff 


31*6 23(73 a 

asm 23/73 • 

BuonoiMiae 

13/58 

9* r 

10*1 

7/44 pc 


34*3 21/70 t 

38*7 21/70 ■ 

Own, 

27*0 

21/70 DC 27*0 

20*0 pc 




Un» 

17*2 

Sfi/BI PC 

15*4 

15*9 pc 


20*2 IBM a 

29*4 19*0 1 

MnoooOt* 

SB/79 

15*9 I 

23175 

12*3 I 




AxfeJanan 27*0 

1fl*4 a 

a srra 

ffl*S rii 

nyadh 

40/104 25/77 ■ 

41/108 24/79 ■ 

Sarttogo 

11*2 

3*7 pc 

17*2 

8/43 pc 


CMmO 

HoraUu 

Houeton 

laeAnpke 


NowYWk 
PManfcc 
5m Fran. 


Aucuwvi 

Bvwwy 


laiai m is.si sms pc 

roes j:vm pc pi/to imps » 


Legend: s-eumy, pc-pvtty dourly, c-doudv. sh-showers. t-twndontanne. msSv St-snwr Antes, 
sn-anow, Met, W-WsaBW. AI mope, forecatf* and data provided by Acnr-WeeJher, he. 0 1894 


Tcxomo 

Warrington 


tew 9 MS 
32/80 SOM 
S4 m 13*5 
HUM SMS 
24/75 tafia 
»aa SMS 
29*4 24/75 
32*0 24 m 
29/8* 19*8 
32*0 25/77 
10/01 8 MB 

10*0 9/48 

32*0 24/75 
24/76 M/57 
41/1M 27*0 
21/70 13*5 
Iirra 12*3 
19*8 B«a 
28*2 14*7 


pc 17*2 9/43 pc 
t 28*2 >0*4 ah 
pc 19*8 11/52 pc 
pc 1B*6 7/44 » 

I 29*4 12A3 pc 
pc 19/M BMC a 
pc 31*8 24/75 pc 
pa 33*1 22/71 pa 
pc 20*2 1B*8 pc 
I 33*1 24/75 ri> 
pc 21/70 11*2 o 
pc 18*0 0/43 pc 
pc 32*9 25/77 pc 
a 21/70 17/53 pc 
• 40/104 27/80 a 
a Z1/7D 14*7 pc 
a 19*8 1203 Mi 
pc 18*4 0/48 a 

pc 22/71 12/53 pc 


Caribbean and West Atlantic 


Caribbean and West Atlantic 


Barbados 


Stl 
Ham non 


partly sunny 
partly sunny 
' r sunny 
i sunny 


33/01 

25/77 

28/82 

1-2 

E 

2035 

Barbados 

partly sunny 

32/69 

24/75 

28/82 

1-2 

SE 

33/91 

24/75 

28/82 

1-2 

E 

2550 

Kingston 

Sunomas 

parity sunny 

33/91 

23/73 

2802 

1-2 

E 

34/93 

23/73 

28/82 

1-2 

SE 

2545 

parity sumy 

34/93 

26779 

28/82 

1-2 

E 

32/89 

25/77 

28/82 

1-2 

SW 

2040 

Hem Icon 

showers 

30/66 

24/75 

28/82 

1-2 

S 


20-40 

25-50 

20-40 

10-35 


Asia/Pacific 


Asta/Pacific 


Penang 

polity sunny 

31/88 

24/75 

29/84 

0-1 

SW 

10-20 

Penang 

thunderstorms 

30/ae 

24/75 

29/84 

51 

PtHittS 

clouds and sun 

31(88 

24/75 

29/84 

0-1 

SW 

1525 

PfHiwt 

Thunderstorms 

32/89 

24/75 

29/84 

51 

Bal 

down and sin 

32/89 

23/73 

29/84 

0-1 

SW 

12-25 

BaB 

clouds and sun 

32/89 

24/75 

29/84 

51 

Cebu 

thundemoims 

31/88 

24/75 

30/86 

0-1 

SE 

1530 

Cebu 

parity sumy 

32/B9 

24/75 

30/88 

51 

Pa hi Beach, Aus 

parity sunny 

21/70 

1355 

1&B4 

1-2 

W 

1530 

Pah) Beach. Aus. 

parity sumy 

22/71 

14/57 

78*4 

1-2 

Bay of islands, NZ 

parity sunny 

18/84 

10/50 

18/61 

1-2 

W 

2040 

Bey of Islands, NZ 

showers 

20KB 

12/53 

17/02 

1-2 

SWrahama 

parity sunny 

31/80 

23/73 

28/82 

1-2 

SE 

2040 

Smrahama 

thunderstorms 

earn 

24/75 

28/82 

1-2 

Honolulu 

partly sunny 

30/88 

24/75 

27/80 

1-2 

ENE 

2545 

Honolulu 

parity sunny 

30/86 

23/73 

27*0 

1-2 


SW 10*0 
SW 15-30 
SW 15-30. 
SW 15-25 
SW 12-23 
NW 25-50 
SE 20-40 
BIE 2545 


Travel in a world without borders, time zones 

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ABST Acres Numbers. 

How to call around the world 

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To recent: your free waflei card of ,\I2^Acces5 Numbers, wa dial the access number of 
the country you're in and ask for Customer Service. 



COUNTRY 

ACCESS NUMBER 

COUNTRY ACCESS NUMBER 

COUNTRY 

ACCESS NUMBER 


ASIA 

Italy* 

172-3011 

Brazil 

0008010 

Australia 

3-800-881-011 

Liechtenstein* 

155-OO-H 

Chile 

00*-0312 

China. PRO** 10811 

Lithuania* 

8*196 

Colombia 

98011-0010 

Guam 

018-872 

Luxembourg 

0800-0111 

Costa Rica's 

114 

Bong Kong 

800-1111 

Macedonia, F.YJL of 99800-4288 

Ecuador* 

119 

Jndla* 

000-217 

Malta" 

0800890-110 

SSalvaJorti 

190 

Indonesia* 

001-801-10 

Monaco* 

39a-0011 

Guatemala* 

190 

Japan* 

OOMr-lll 

Netherlands* 

06-022-9111 

Guyana*** 

165 

Korea . 

009-11 

Norway 

800-190-11 

Honduras's 

123 

Korea** 

11 * 

Poland** “* 

0*010-480-0111 

Mexico*** 

95-000-462-040 

Malaysia* 

800-0011 

Portugal* 

05017-1-288 

Nicaragua (Managua) 174 

New Zealand 

005911 

Romania 

01-800-4288 

Parnmaa 

109 

Philippines* 

105-11 

Russia **fMoscow) 

155-5042 

Peru* 

191 

Saipan*' 

235-2872 

Slovakia 

0042000101 

Suriname 

156 

Singapore 

800-0111-111 

Spain* 

90099-00-11 

Uruguay 

00-0410 

Sri Lanka 

435430 

Sweden* 

020795-611 

Venezuela** 

80011-120 

Taiwan" 

0080-102850 

Switzerland* 

1558011 

CARIBBEAN 

Thailand* 

0019-991-1111 

ILK. 

0500898011 

Ratwnnw 

1-800872-2881 


EUROPE 

Ukraine* 

8 * 100-11 

Bermuda* 

1-800872-2881 


8*14111 

MIDDLE EAST 

British vx 

1-800-872-2881 

Austria**— 

022-905011 

Bahrain 

800001 

Cayman Islands 

1-800-872-2881 

Belgium* 

0800-100-10 

Cyprus* 

08090010 

Grenada* 

1-800-872-2881 

Bulgaria 

00-1800-0010 

Israel 

177-100-2727 

Halil’ 

001-800972-2883 

Croatia** 

99-38-0011 

Kuwait 

800288 

Jamaica** 

0800872-2881 

Czech Rep 

00-420-00101 

Lebanon (Beirut) 

426-801 

Netb-Antfl 

001-800-872-2881 

Denmark* 

8001-0010 

Qatar 

080001 1 -T 7 

SLKtis/Nevto 

1-800-872-2881 

Finland* 

9800-100-10 

Saudi Arabia 

1-800-10 

AFRICA 

France 

19*-0011 

Turkey* 

00800-12277 

Egypt* (Cairo) 

5100200 

Germany 

0130-0010 

UAE* 

800121 

Gabon* 

OOa-OOI 

Greece* 

00-800-1311 

AMERICAS 

Gambia* 

00111 

Hungary* 

00*80041111 

Argentina* 

001-800-2001 lli 

Kenya* 

080010 

Iceland** 

999-001 

Belize* 

55? 

Liberia 

797-797 

Ireland 

1800-550-000 

Bolivia’ 

08001112 

Sooth Africa 

0-800-99-0123 


V. 


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