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Heralfc 


INTERNATIONAL 



tribune 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON 


Paris, Wednesday, September 28, 3994 


iH 


POST 


No. 34,705 


Presidents Yeltsin and Clinton watching the opening ceremonies of the White House summit meeting 

U.S. Won’t Allow Russia a Free Hand 


By Joseph pitcheit 

JnUtnahmd Herald Tribune 

PARIS — The Clinton administration 
has no intention of giving Russia a free 
hand for armed intervention in the former 
republics on its periphery, U.S. officials 
said Tuesday. But, they added, Washing- 
ton also has no intention of making a 
public issue now of its stand. 

In their talks in Washington, President 
Bill Clinton will keep trying to persuade 
the Russian leader. Born N. Yeltsin, to 
resist calls to try to re-establish Russia’s 
hegemony over parts of the old Soviet 
Union through a mix of military peace- 
keeping and economic dependency. 

But the reason for soft-pedaling the U.S. 
position goes beyond the simple concern 


of not lecturing Mr. Yeltsin publicly and 
weakening his domestic position. 

In practice, the United States has little 
beyond persuasion to offer as a way of 
helping Moscow meet its genuine concern 
about conflicts simmering on Russia’s bor- 

NEWS ANALYSIS 

dors and in some cases threatening to spill 
back into Russia itself. 

“We certainly aren’t going to send 
troops, and NATO isn’t either, and we 
won’t pay for a United Nations operation, 
so all wc can do is warn the Russians that 
they will lose international sympathy if 
they behave too badly,” a U.S. policymak- 
er said. 

In practical terms, this means that 
Washington will block Russian efforts to 


win a special mandate for military inter- 
vention in former Soviet slates known to 
Russians as “the near abroad." 

Uncomfortable with classical UN rules 
about peacekeeping, Moscow has turned 
to the Conference on Security and Cooper- 
ation in Europe, a loosely structured body 
grouping all the European countries, plus 
Russia and the United States. But Russian 
negotiators suddenly walked out of talks 
there this summer when it became clear 
that the conference members wanted to 
unpose strict limits on and dose monitor- 
ing of Russian actions. 

Now Moscow has proposed creating a 
“security council” of leading nations in the 
organization, apparently as a way of re- 
storing Russia's voice in European security 

See RUSSIA, Page 8 


Japan Politician Gets Off in Bribery Case 

By James Stemeold Tuesday that he accented that exnlanarion nver nnlitiml > 


By James Stemgold 

New York Timex Service 

TOKYO — After a chaotic year of re- 
building Japan’s badly tainted political 
system, the country was stunned Tuesday 
when a politician was acquitted in a land- 
mark bribery case, raising the prospect 
that several disgraced politicians might be 
rehabilitated. 

Takao Fujinami, once a rising star in the 
Liberal Democratic Party ana a former 
chief cabinet secretary, had admitted to 
receiving during the mid-1980s nearly 
5500,000 in cash and securities from Re- 
cruit Co., a publisher of job information 
magazines, that stood to benefit from his 
influence. 

But Mr. Fujinami maintained that the 
payments were just political contributions, 
not bribes, ana that he bad not asked for 
them. The judge, Hidcald Mikami, said 


Tuesday that he accepted that explanation, 
ruling that the prosecutors had faded to 
prove the payments were directly in return 
for favors from Mr. Fujinami, a strict stan- 
dard set under Japanese law. 

“Even if there had been a solicitation, it 
is doubtful that the defendant would have 
considered the acceptance of the checks 
and shares as bribes," Judge Mikami rea- 
soned. 

Prosecutors said they would appeal the 
decision, but it was clearly a huge blow to 
their efforts to clean up what was regarded 
as rampant corruption in the Parliament. 
The Recruit scandal, as it became known, 
brought down the government of Prime 
Minister Noboru Takeshita in 1989 and 
tainted three former prime ministers as 
well as more than a dozen other important 
figures. 

It also led to widespread public disgust 


over political corruption and encouraged 
calls for fundamental reform of the elec- 
toral system and of the rules governing 
campaign contributions. 

Some politicians called Tuesday for Mr. 
Fujinami’s return to the Liberal Demo- 
cratic Party — he lost his seat in ihe 
Parliament Iasi year — while others said 
the dedsion raised the question of whether 
the political reforms under way, partly in 
response to the Recruit scandal, need to go 
much further. 

“1 am really pleased at the ruling." said 
former Prime Minister Yasuhiro Naira, 
sone, one of whose secretaries received 
Recruit Co. stock. “I cannot hold back my 
tears at the thought of the hardships his 
family and his supporters endured. 1 hope 

See JAPAN, Page 8 


Hard Times Over? Not for U.S. Workers 


By Steven Pearlstew 

Washington Post Service 

WASHINGTON — Even with their 
sales and profits rising smartly, America’s 
biggest corporations are laying off employ- 
ees and trimming operations at nearly the 
same pace as they did during the bright of 
the recent recession. 

In its annual survey, the American Man- 
agement Association found that 47 percent 
of Its 7,000 number companies reduced 
their wtiric forces in the last year, essential- 
ly unchanged from the two previous sur- 
veys. 

Unlike earlier cutbacks, which were re- 
sponses to a slow economy or a drop in 
sales, the survey found that current down- 


- Newsstand Prices 

Andorra .....9.00 FF Luxembourg 40 1_ Fr 

Antilles,., ..11.20 FF Morocco 12 Dh 

Cameroon,/! JOQCFA Qatar ......8.00 Rials 

Egypt ......E.P. 5000 Reunion ....11 .20 FF 

France 9.00 FF Saudi Arabia.. 9.00 R. 

Gabon. WO CFA Senegal .....960 CFA 

Greece....... J00 Dr. Spain ..... .200 PTAS 

Italy ........... . 2,600 Ure Tunisia ....1 .000 Din 

ivory Coast . 1.130 CFA Turkey ..T.L. 35.000 

Jordan.... VJD tLA.E :&50 Dirh 

Lebanon ...US$1.50 U.5. Mil. (EurJSl.10 


sizings were part of efforts by companies 
to improve their competitive position. 

Increasingly, management experts say, 
cutbacks are ihe result of new strategies to 
contract non essential work to other com- 
panies, adopt new labor-saving technol- 
ogies and realize efficiencies from mergers 
or acquisitions of other companies. 

“It is a mistake to see downsizing as a 
onetime reaction to recession,” said Eric 
Rolfe Greenberg, the association's director 
of management studies. "Instead, it has 
become a systematic, ongoing corporate 
activity." 

“Downsizing is not an event any more,” 
said Mitchdl Maries, author of a new book 
on the subject and a consultant with the 
Delta Consulting Group in New York. 
“It’s beoome a way of business life." 

In fact, the management association 
found that companies that view downsiz- 
ing as an ongoing activity have shown 
better gains in profitability and worker 
productivity than firms that downsized 
only once. 

The survey, which was to have been 
released Tuesday, is the latest evidence 
that the economy is continuing to be dis- 
turbed by major structural change and 
dislocation even as the overall level of 


sales, profits and employment continue to 
rise. 

Increasingly, management experts say, 
even successful companies are concentrat- 
ing their efforts on those parts of their 
businesses where they do best, earn their 
highest profit margins or gain the greatest 
competitive advantage. Other activities are 
either eliminated completely or contracted 
out to other companies. 

In the survey, for example, fully 66 per- 
cent of the companies that instituted lay- 
offs last year in one area reported that they 
also added employees in other areas. 

Although downsizing was once largely 
concentrated in manufacturing compa- 
nies, the survey found that the momentum 
has now shifted to the burgeoning service 
sector, where 57 percent of all companies 
downsized during the last year. 

“We are only four years into a service 
sector restructuring that will last at least a 
decade," said Steven Roche, an economist 
at ihe investment house Morgan Stanley & 
Co. "There is still tremendous overcapaci- 
ty in those industries that is only now 
bang unmasked by competitive pressure,” 

Middle managers, supervisors and even 

See CUTS, Page 8 


As U.S. Role I U.S. and North Korea 

Widen Their Gap 
Over Nuclear Terms 


Increases, 
Haitians Are 
Abdicating 

Compiled by Our Staff From Dispatches 

PORT-AU-PRINCE, Haiti — 
American troops took control of Par- 
liament and City Hall on Tuesday in 
preparation for the return of lawmak- 
ers, and other soldiers began collect- 
ing Haitians' weapons in a guns-for- 
money progr am 

With their duties already expanding 
beyond the assigned role of restoring 
democracy here, some U.S. soldiers 
expressed concern about what they 
called "mission creep." 

In the north, for example, many 
Haitian authorities have simply abdi- 
cated to U.S. forces. And in Port-au- 
Prince, even routine police work is 
now sometimes referred to the Ameri- 
cans. 

But the Pentagon denies that the 
Clinton administration has expanded 
the militaiys mission in Haiti, and 
says America has to serve as a police 
force to make the operation work. 

“We are resisting and we will con- 
tinue to resist mission creep," Defense 
Secretary William J. Peny said in a 
briefing Monday. He said that the 
United Stales would “do what is nec- 
essary in the exigencies of the mo- 
menL" but that troops would not per- 
form routine police functions. 

The U.S. Air Force began taking 
over security Tuesday at the Port-au- 
Prince airport to free’ up soldiers from 
the 10th Mountain Division for other 
duties. As of Tuesday. 15,600 U.S. 
troops had arrived in Haiti. 

Since the U.S. militaiy intervention, 
troops have fanned out inside and 
around Haiti's two biggest cities: 
Port-au-Prince and Cap Haitien. Ma- 
rines are disarming some police bar- 
racks. while military police are sta- 
tioned at others to prevent human 
rights abuses. 

“They really don't associate with 
i. said a 10th Mountain Division 
coiporal, Wayne Pelletier of Leomin- 
ister, Massachusetts, referring to Hai- 
tian police. “They don't know if they 
should beat people in front of us or 
wait until we leave." 


By R. Jeffrey Smith 

Washington Post Service 

GENEVA — U.S. and North Korean 
officials have made no progress in five 
days of negotiations here on North Ko- 
rea’s nuclear program, and in some re- 
: further from i 


i an agreement than 


the^ were at the end of talks a month ago, 


spects are 

they w 

officials said Tuesday. 

The officials blamed North Korea for 
the apparent stalemate, asserting that dip- 
lomats from the isolated state had made 
unacceptable demands that had under- 
mined a preliminary understanding 
reached by the two nations in Geneva on 
Aug. 12. 

But the officials conceded that Wash- 
ington also came to the negotiating session 
without any major new ideas, despite hav- 
ing first learned of the North Korean de- 
mands earlier this month during informal 
discussions in Berlin. A senior U.S. official 
here explained last weekend that the new 
North Korean demands were simplv “bi- 
zarre" and would not be taken seriously. 

U.S. officials said they were at a loss to 
explain why North Korea appeared to be 
pursuing a more hard-line stance. The ne- 
gotiations, which are meant to work out 
what rewards North Korea is to get for 
eliminating its capability to make nuclear 
arms, began Friday and’are the third such 
session since July. 

One possibility, U.S. officials said, is 
that North Korean leaders were dissatis- 
fied with the outline of the deal that Depu- 
ty Foreign Minister Kang Sok Ju had 
worked out last month, and were now 
insisting on doing better. 

A U.S. official said that he could not 
predict whether North Korea would con- 
tinue to maintain its position in future 
sessions. 

U.S. officials had been reluctant until 
Tuesday to allude to a possible stalemate, 
which would present the Clinton adminis- 
tration with a new foreign policy problem 
at a time when Washington’s attention is 


distracted by other matters, including the 
U.S. military intervention in Haiti. But a 
diplomatic source here said that the cur- 
rent negotiating session was expected to 
“jsDonJy without any major new accord. 

The U.S. delegation also announced 
that the chief U.S. negotiator, Robert L. 
GaUuca, and Mr. Kang would meet 
Wednesday m o rn ing -to try again to over- 
come the impasse. No further meetings 
have been scheduled, and U.S. officials 
have booked seats on a plane leaving for 
Washington on Friday morning. 

As a senior U.S. official put it on Satur- 
day, after the first day of talks, “We do 
have what is fair to say are disagreements 
over some very fundamental issues, and at 
this moment it is not clear what the resolu- 
tion will be." 

The delegation's announcement Tues- 
day confirmed that observation, saying, 
“We can report no progress.” 

Officials said three major disputes had 
blocked progress. One involves the diplo- 
matically sensitive issue of which nation is 
to meet a North Korean demand for two 
new light-water nuclear reactors to gener- 
ate electrical power, which are to replace 
the graphite-moderated reactors that U.S. 
officials say North Korea is developing to 
generate plutonium for nuclear arms. The 
light-water technology produces little plu- 
tonium. 

Only South Korea has stepped up so far 
to volunteer nuclear technology, and 
Washington — at Seoul's urging — has 
called South Korea's "central" participa- 
tion in the deal essential. 

After the August session, Mr. Kang sug- 
gested he was not troubled by South Kore- 
an involvement, saying at a press confer- 
ence that it was up to Washington to 
decide on the reactor vendor. But since 
then, his superiors have evidently had a 
change of heart, because Mr. Kang now 
insists that the decision rests "with our 
side," adding that they could not agree to 
any South Korean-type" reactor due to 
that country's recent “hostile and abnor- 
mal behavior." 


So far. Haiti’s armed forces, which 
backed down in the face of an immi- 
nent U.S. invasion and agreed to co- 
operate in the occupation, have gone 
along reluctantly with the changes 
that deny them power and privilege. 

“We are happy to cooperate and 
hope that we will profit and benefit 
from iu” Captain Patrick Bastien said. 
But, he added: “I’m Haitian. It's not 
something we would warm but it is 
belter than a forced invasion.” 

Meanwhile, the U.S. military’ re- 
ported the first death of a soldier in 
Haiti, apparently of a self-inflicted 
gunshot wound. 

The Pentagon said that the U.S. 
soldier apparently committed suicide 
while his unit was securing a govern- 
ment-owned villa in Port-au-Prince 

See HAITI, Page 8 


Plague No Reason to Drop 

ia, WHO Says 


By Barry James 

International Herald Tribune 

The World Health Organization said 
Tuesday that people contemplating travel 
to India should not cancel their plans for 
fear of getting pneumonic plague. 

Despite reports that the disease had 
spread to the capital. New Delhi, where at 
least two cases were confirmed, a WHO 
spokesman said, “Our advice is, travel 
plans should not be altered." 

Nevertheless, several foreign companies 
operating in western India were reported 
to be evacuating expatriate workers. Many 
countries set up emergency screening at 
airports to check passengers coming from 
India, particularly the port city of Bom- 
bay, where 13 people had been placed 
under observation with suspected plague 
symptoms. 


WHO officials said there were no indi- 
cations that plague had spread from India 
to other countries. Some infectious disease 
specialists said there was little risk that it 
would spread in regions that were not 
infested with flea-bearing rats or did not 
have large populations moving around. 

Pneumonic plague has killed more than 
50 people in the diy of Surat, in western 
indra- It is a highly contagious version of 
me Black Death, which ravaged medieval 
Europe, primarily in its bubonic form. 

Plague is carried by fleas, which trans- 
mit it to humans from infected rats. Pneu- 
monic plague can also be transmitted di- 
rectly from human to h uman through 
coughing or close contact 

The WHO said it was unlikely that trav- 

See WHO, Page 8 



Japan Makes Plea 
For Council Seat 

UNITED NATIONS, New York 
(AFP) — Japan formally declared its 
candidacy Tuesday for a permanent seat 
on the Security Council but said it would 
not take part m military operations pro- 
hibited by its constitution. 

Foreign Minister Yohd Kono, speak- 
ing before the General Assembly, said he 
hoped a decision on Japan's candidacy 
could be reached within a year. 

“Japan is prepared, with the endorse- 
ment of many countries, to discharge its 
responsibilities as a permanent member 
of the Security Council,” Mr. Kono said. 

Tourist Killed in Egypt 

CAIRO (AFP) — A suspected Muslim 
fundamentalist killed two Egyptians and 
a German tourist and wounded three 
other people Tuesday in Hurghada, 
sources dose to the security services said, 

U.S. Bates Stay Put 

The U.S. Federal Reserve Board left 
interest rates unchanged Tuesday, al-. 
though analysts were still predicting one 
more increase before year-end Themac- 
oon sent gold prices to more than 5400 
an ounce. U.S. blue chips rebounded 
from early losses. (Page 13) 



The Dollar 

Now Vom, 


. Tuct. ebon 


Myun ^ Whun Chun g’ conductor ofAePmS 
Opfra, outside the Op£ra BastiDe. He will be leaving in October. Page 9. 


1.5432 


Trlblndex 


0.23% fv 
115.31 $ 

wovtousetasa 


Pound 


1.5536 


Van 


1.5707 


1.572 


08.12 


FF 


5.2B75 


98.75 


5.3005 





Page 2 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 28, 1994 


Saudis Crack Down 
On Fundamentalists 





110 Are Arrested for Sedition 


By Youssef M. Ibrahim 

New York Tima Struct 


PARIS — In a rare public 
admission of internal trouble, 
Saudi Arabia’s government has 
acknowledged the arrest of 1 10 
Muslim fundamentalist mili- 
tants charged with ties to “for- 
eign interests” who are plotting 
to “spread sedition" with the 
object of destabilizing the coun- 
try, the world’s largest oil-pro- 
ducer. 


The crackdown is remarkable 
for its breadth and for the ex- 
tensive public announcement 
about it from the normally reti- 
cent Saudi regime. Only a few 
days ago, Saudi Arabia had de- 
nied reports of mass arrests that 
had began to surface in the 
Arab news media. 

Saudis said the arrests were 
aimed at breaking up a loose 
coalition of radical religious 
fundamentalists, who are most- 
ly from the conservative prov- 
ince of Al Qasim in the north- 
west. and leftist secularist 
opponents based outside the 
country, mostly in England and 
the United States. 

Both groups have existed for 
years, but Saudi Arabia’s reli- 
gious extremists have gotten 
particularly bolder in the last 
three years as a tide of militant 
Islamic fundamentalism 
throughout the region had risen 
to challenge several Arab re- 
gimes in Algeria, Tunisia, Egypt 
and Jordan. 

The Saudi announcement 
late Monday also underlined a 
conviction whispered by many 
Saudi liberals that maintaining 
a strict theocratic regime at 
home is not enough to immu- 
nize the country against as- 
saults from the extreme reli- 
gious right 

“The Saudi Interior Ministry 
warns that it will not be lenient 
with any person thinking of 


toying with the country’s basic 
interests and will hit strongly 
anyone who seeks to disrupt se- 
curity," according to a state- 
ment issued by the interior min- 
ister, Prince Nayef ibn 
Abdul aziz al Saud. The prince 
is King Fahd’s brother. 

The statement vowed to ex- 
tend the crackdown further 
within the religious establish- 
ment, which has traditionally 
been allied with the ruling al 
Saud family. 

Saudis dose to the govern- 
ment said what moved King 
Fahd to act was irrefutable evi- 
dence that religious extremists 
in the kingdom were working 
with Muslim extremists else- 
where in the region. These Sau- 
dis said the government had de- 
tected vast movements of funds 
from rich fundamentalist busi- 
nessmen in the Gulf region — 
particularly in Kuwait — to 
support an effort to undermine 
the Saudi regime. 

Egypt and Jordan had re- 
cently accused Muslim funda- 
mentalist associations in Ku- 
wait of supporting terrorist 
groups plotting to overthrow 
the Egyptian and Jordanian 
governments. 

At least one prominent Ku- 
waiti businessman was detained 
in Cairo for three months after 
he was arrested on charges of 
carrying hundreds of thousand 
of dollars to a member of the 
Islamic Group, a terrorist Is- 
lamic network operating in 
Egypt. 

“I don’t want to talk about an 
‘Islamist international’ but 
there is something to it," said 
one Saudi, who asked for ano- 
nymity. 

Radical Saudi groups, he 
said, are getting logistical sup- 
port from such radical regimes 
as Sudan and “are beginning to 
form ties with Egyptian and Al- 
gerian fundamentalists." 












*V ' 

: r -% 




jack Dnb^MMrtU— 

FRENCH AIDS SCANDAL — Georgina Dtrfoix, former French social affairs minister, after appearing before a 


special parliamentary court Tuesday In Paris that formally placed her under investigation over the government’s 
supplying AIDS-tainted blood to French hemophiliacs. “In 1985 we didn’t really know what AIDS was,” she said. 


Teen’s Role in Russia Crash Is Verified 


The Associated Prea 

MOSCOW — The cockpit 
voice recorder of an Airbus jet 
that crashed in Siberia in Mairii 
confirms that the pilot’s teenage 
son was at the controls when 
the plane began to dive, accord- 
ing to a transcript published by 
a Moscow magazine. 

The cockpit tapes, printed in 
Observer, also show that the 
Aeroflot crew nearly managed 
to save the plane and the 75 
people on board. 

But the tapes, and an analysis 
by a Russian aviation official 
published in the Russian News 
on Tuesday, indicate that the 
crew’s efforts were hampered 


by the youth and his sister's 
presence and by unfamiliarity 
with the foreign-made plane. 

The plane went down March 
22 on a flight from Moscow to 
Hong Kong. It was owned by 
Aeroflot’s international arm, 
Russian International Airlines, 
and airlin e officials bad disput- 
ed early findings that children 
were in the cockpit. 

The crash was one of the 
most dramatic in a string of 
Russian air-safety disasters in 
the past year. 

According to the transcript. 
Which the magazine said came 
from sources it would not dis- 
close, Captain Yaroslav Ku- 


drinsky was showing his daugh- 
ter Yana, 12, and son Eldar, 16, 
the controls. The co-pilot and 
perhaps other crew members 
were also present. 

The boy asked to turn the 
steering wheel, which apparent- 
ly disconnected the automatic 
pilot, according to Vsevolod 
Ovcharov, the air-safety investi- 
gator quoted in Russian News. 

The transcript shows the boy 
asking, a few minutes after be 
had touched the wheel. “Why is 

it turning ?" 

"Is it turning by itself?" his 
father asks. 

“Yes!” 

“Hey guys!" shouts the copi- 


den tally pushed the right pedal, 
sending the aircraft into a 


sending the aircraft into a 
spin." The crew managed to 
pull the plane out of its spin, he 
said, but too late — they were 
just 400 meters off the ground. 


EU Makes First Move to Rein In Lobbyists, but Keeps It Vague 


By Tom Buerkle 

International Herald Tribune 

BRUSSELS — The European 
Union is moving to get a tentative grip 
on Brussels' growing army of lobby- 
ists. 

A group of public affairs consul- 
tants plans to announce Wednesday 
an agreement on a code of conduct for 
lobbying the European Commission, 
the EU executive agency, officials said. 

Unlike the strict rules that the U.S. 
Congress agreed to impose on itself 
last week, the European code is delib- 
erately vague. It requires lobbyists to 
identify their clients only by industry 
rather than by specific company and 
bans “financial inducements" without 
saying whether that means lunch, a 
night at the opera or a Caribbean jun- 
ket 

The purely voluntary code includes 
no means of enforcement and is aimed 
at independent consultancies that em- 


ploy only a few hundred of the esti- 
mated 10,000 lobbyists seeking to in- 
fluence the EU bureaucracy. 

But Commission officials say they 
hope the code will serve as a model for 
other lobbying groups, including law 
firms, industry and labor federations 
and corporate representatives, as well 
as other lobby targets like the Europe- 
an Parliament Already some public 
relations firms are working on a code 
of conduct that is expected to include 
enforcement provisions. 

“I do not understand why in the 
U.S. they can say, ‘Here are my cli- 
ents,’ while here they don’t dare take 
that step," a Commission official said 
of the code. “But you have to start 
somewhere. This is the first step.” 

“I don't think we* ve tried to answer 
all the questions," said Maria Laptev, 
one of the authors of the code and the 


just trying to be straight, up-front, 
courteous and honest." 

The relaxed attitude may seem sur- 
prising. given the crackdown on brib- 
ery by Italy’s magistrates, the spread- 
ing corruption scandals in France and 
a vigorous debate in Britain about out- 
side influence on members of Parlia- 
ment. But officials and lobbyists say 
that attitude partly reflects differences 
between practices in Brussels com- 


pared with national capitals and 
Washington. 


Increasingly, Brussels lobbyists lo- 
ts on such broad policy issues as 


cus on such broad policy issues as 
welfare reform to bolster competitive- 
ness or on preparing for the “informa- 
tion superhighway," rather than be- 
seeching individual bureaucrats or 
members of Parliament for contracts 
or special treatment, officials say. That 


head of European public affairs for 
Charles Barker, a British firm. “We're 


is especially true now that the single- 
market program is largely complete 


market program is largely complete 
and the EU bureaucracy is generating 


much less legislation than in the late 
1980s and early 1990s. 

“The problems that are perceived in 
the States are not the same here be- 
cause you don't have the same kind of 
one-on-one contact" with legislators, 
said W illiam Beddow, the EU repre- 
sentative for Caterpillar Inc., who pre- 
viously lobbied in Washington. 

The Commission cited incidents of 
lobbyists misrepresenting themselves 
or selling confidential documents 
when it first requested the industry to 
come up with a code of conduct two 
years ago. But more than any concerns 
about corruption or leaks, commission 
officials say they merely want to keep 
track of the lobbyists on whom offi- 
cials increasingly rely. 

Paul Adamson, who runs his own 
Brussels consultancy and has signed 
the code of conduct, noted that the 
commission turned to consultants and 
industry to help frame its white paper 


on competitiveness and jobs as well as 
its recent strategy on the information 
superhighway. 

“The Commission is now much 
more into the mode of seeking outside 
advice.” he said. 


At the European Parliament, many 
members lake the growing attention of 
lobbyists as a welcome affirmation of 
the chamber’s increased powers under 
the Treaty on European Union. Com- 
plaints dwell largely on the intrusion 
of lobbyists into members’ offices and 
a flood of facsimile, mail and tele- 
phone messages. 


Alman Metten, a Dutch Socialist 
member, expressed concern recently 
that commercial lobbies have much 
greater influence than noncommercial 
groups. But his proposal to impose 
tight rules on lobbyists died after fail- 
ing to win adequate support in the 
session that ended this spring. 


General Strike Moves Closer in Italy Don’t Leave Home Without It 


The Associated Pres 


his efforts to rein in the budget 


ROME — Crucial pension 
reform talks by the government 
and labor federations faltered 
Tuesday, and union leaders said 


deficit. The government is hop- 
ing for major savings from the 
bloated and fraud-riddled pen- 
sion system. 


they would call a general strike. 
The breakdown in negotia- 


Tbe breakdown in negotia- 
tions came as a blow to Prime 
Minister Silvio Berlusconi, 
whose credibility b riding on 


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A labor official, Alfiero 
Grandi of the General Union of 
Italian Workers, said the lead- 
ers of the three federations 
would meet Wednesday to de- 
cide on the strike, according to 
the AGI news agency. 

Giancarlo Fontanelli, a labor 
union official, announced a “a 
hard fight — the hardest fight 
possible," the agency stud. 


Fax or sand detailed mane tel 


Pacific Western University I 


2675 S. fGnp SJrast. Dept 23 
Honolulu, Hi 06826 


Mr. Fontanelli promised a 
campaign of regional strikes 
and a struggle by the opposition 
in Parliament, along with the 
general strike, against the gov- 
ernment’s plan to cut the bud- 
get It was not immediately 


u ask the butter... 




dear when a general strike 
would be called. 

Mr. Berlusconi had urged the 
unions earlier in the day to drop 
their threat 

Speaking a few hours before 
resuming talks with Italy's three 
main labor federations, Mr. 
Berlusconi promised that bud- 
get cuts would be ‘just and 
fair.” 

“Sacrifices will be asked that 
will be absolutely sustainable 
and intended not to take re- 
sources away from the individ- 
ual," Mr. Berlusconi said. 

“It is not the time to go out 
into the piazzas," he said, refer- 
ring to the strike threats. “It is 
time for everyone to work in the 
same direction." 

The prime minister is caught 
between the need for deep bud- 
get cuts to control a ballooning 
deficit, and warnings from 
unions against making too 
much of a dent in the social 
welfare state. 

Mr. Berlusconi, a millionaire 
businessman, won election in 


Visa-Less Entry to U.S. at Risk Over Congress’s Delay 


By Rebecca J. Fowler 

Washington Past Service 

WASHINGTON — An international trav- 
el provision that has eased the passage of 
more than 9 million tourists and business 
travelers a year into the United States by 
waiving visa requirements is due to expire, 
threatening to block visitors. 

•Without the provision, which has saved the 
government staffing and administrative costs, 
the result at international airports is “going to 
be a huge mess," according to a State Depart- 
ment spokesman. 

The provision, which is tied up in Congress, 
expires Friday. 

Die Immigration and Naturalization Ser- 
vice said, however, that it would institute a 
30-day grace period through Nov. 1, during 
which all tourists and business travelers who 
would have qualified for the visa waiver will 
be admitted to the United States as though 
the program were still in force, 

“It will be business as usual" until Nov. 2. 
said Cassie Boothe, a spokeswoman. 


land, with reciprocal waivers for Americans 
visiting those countries. 


Despite overwhelming congressional sup- 
3ft for an extension, it is part of a larger bill 


The agency will not only waive the visa 
applications but also the $95 fee charged to 
those who arrive without visas. 


March with promises to put Ita- 
ly’s financial house in order and 




5«I*N*G-A-P*0-R*E 


Iy*s financial house in order and 
bring efficiency to government. 
He has a Friday deadline to 
present his budget plan. 


those who arrive without visas. 

More than 31 million people have used the 
waiver program since it was started eight 
years ago. It is open to 20 countries in 
Western Europe pins Japan and New Zea- 


port for an extension, it is part of a larger bill 
called the Technical Corrections Act that has 
been stalled in the Senate by amendments. 
The amendments were introduced by Senator 
Hank Brown. Republican of Colorado and 
would grant the president of Taiwan a visa to 
visit the United States and open up trade in 
defense and telecommunications technology 
with newly democratic East European coun- 
tries. 

With only days left until expiration, there is 
serious concern among senior officials that 
Congress win not be able to enact the exten- 
sion in time. 

“We recognize if the visa waiver expires, it 
could put an undue burden not only on die 
State Department but on travelers.” a For- 
eign Relations Committee staff member said, 
“and we’re going to do everything we can to 
get the Technical Corrections Act secured ” 

“The committee is in discussion with Sena- 
tor Brown, and we are doing everything we 
can,” the staff member added. 

There is also serious concern at the Com- 




mm 





WORLD b: 


U.K. Minister Assails SmnF§fe| 

^ tti w 




For Hinting at a Resmnption oiw* 

BELFAST (Reuters) —Britain’s minister fOrNotthera-lr 
and pro-British politicaHeaders here assailed the Sinn Feirijt 
Gerry Adams, on Tuesday for suggesting that ihe £RAg 
resume its guerrilla war after last month’s landmark jwasfej 
“I hope that this is not the case,” the Northern Imaiwy 
taiy. Sir Patrick Mayhew, told raxwters. “The British goytpt 
wants it to be established that that is not the ease. -fy 
It was his first public reaction to suggestions by 
head of the Irish Republican Army’s political wing, uiattfgs 
might one day resume its guerrilla war to. reunite Brtfjj&r 
Northern Ireland with the Irish Republic.-: . 

Mr. Adams, in an interview with tire Boston Herald nrapj 
published on Monday, said the present. IRA leadership 
abandoned violence with its September cease-fire. But h^hcl 
the possibility that a new IRA leadership might emerge jui 
initiativ e brokered by the Irish and British gomnmen^n 
Mr. Adams latex insisted his remarks wercbypothetical^ £ 


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Shelling of Kabul Civilians Kills 

< vk * v% /T» * ** A* Iaap# . n&r 


ISLAMABAD, Pakistan (Reuters) — At least 58 pfctiplewers 
killed and 224 were wounded in rocket and mortar attacks'on 
Kabul on Tuesday, official Kabul Radio said. Son^ eT t!* 
fatalities were guests at a wedding party hit-by a rocke|p * ■>' »j 
T he broadcast, monitored in Isl amab a d, blamed tajmons 
poring President Burhanuddin Rabbam for the atiacire^WHKaiTt 
said had plunged the city into a state of Tnourningi ^The^ yN 
secretary-general’s representative for Afghanistan ana Pakistait;- 
Sotirios Monsouris, called the attacks “another humaafoa gdffl 1 
and urged the rival factions to suspend a tta c ks on dvjlian targets ^ 
Anti-Rabbani militias controlled by Prime Minisfri jpal Dticl dpi- - 
Hekmatyar and a northern warlord. Gen eral A 
tarn, fired more than 100 rockcts and mortar 
areas of the Afghan capital, the radio said. 


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lot, as the plane begins its dive 
and a roar is heard. 

It appears that the force of 
the fan pinned the boy in the 
captain’s seat, while his desper- 
ate father shouted more than a 
dozen times, “Get out!" 

Mr. Ovcharov said the Rus- 
sian crew evidently did not real- 
ize right away that the automat- 
ic pilot had been tamed off. 

He said the “final straw” 
came when the boy’s foot “acci- 


. ■ ■ •- X (■ 1 1 

Shevardnadze Considers Resigning ' 

MOSCOW (Reuters) — The Georgian leader, Eduard A She-- 
vaxdnadze, fed up with opposition calls for his resignation, said! 
Ttiesday that be would decide overnight -whether to step down. ■ 
“I will come and make a statement," Mr. Shevardnadze wrote; 
in a message to Parliament. “This ni ghtmar e must end?- Qppdri- . 
tion members accused him of being responsible for military and 1 
economic “defeats" exactly a year after he and his troops sunen-| 
dered the city of Sukhnmi to Abkhazian separatists. 

Mr. Shevardnadze^ a former Soviet, foreign mimst& has- the; 
backing of the paxhamentasy majority. He has threat en e d to - 




Judge Won’t Freeze Harriman Assets 


NEW YORK (Reuters) — A federal judge refused Tuesday to. 
freeze the assets of the U.S. ambassador to France, Pamela; ‘ 

Harriman, who is accused in a lawsuit accuses of draining the! 
estate of her late husband, Averell Harriman, a longthriepreaidta- • 

tial adviser and former governor of New York,- £ 1 ; ... . 

Mrs. Haniman and her legal adviser, Clark Clifford^ a former- . ... 

defense secretary, were sued by three generations of Harriman; 
heirs for allegedly frittering away the family fortune and-decehdng-1 ‘\7 

relatives about rite poor status of the investments. ", • .. ... 

The family members asked U.S. District Court Judge John.' v •' . 
Martin to freeze Mis. Harriman’s and Mr. Clifford’s assets ahead . 

of a trial because they were concerned the defendants would be; •• , 

unable to pay any possible judgment against them. . j 

••• 

Plane Ran Out of Fuel, Russian Says • ^ v ; , 

MOSCOW (Reuters) — A Russian official said Tuesday that a : . • 

small airliner that crashed in Siberia on Monday, killing all 28; 
people aboard, went down because it ran out of fueL * , 


people aboard, went down because it ran out of fuel. " 

Toe Emergencies Ministry bad said that the. Yak-40 was flying; 
from the Siberian industrial center of Krasnoyarsk to Tura, about.' 


from the Siberian industrial center of Krasnoyarsk to Ttira, about.' 
800 kilometers (500 utiles) away. 

“Because of bad weather, the aiipo re^ &f i{ Fnra’ : ttfri>ftriBe~p1&PC. 
away and the pilot derided to fly' to Vanavara,” Vladimir Strip-- 
kin. a local ministry official, told a Russian television Artwork. “It; 
was 38 kilometers away from Vanavara, It ran out of fueL” 


3L. 

sn Politics 


TRAVEL UPDATE 


Airlines Match Northwest’s Discounts * 


mace Department that if the waiver expires, 

it would divert travelers, who spent more than 

UltU. *1 t r t 


$74 billion last year alone m the United 
States. 


NEW YORK (AP) — America West Airlines. American Air-’ 
lines and Delta Air Lines said Tuesday they would match. a two-i 
for-one “companion fare" discount announced by Northwest' 

Airlines a day earlier. ’ 

Northwest said Monday it would offer passengers traveling in! 
pairs discounts of up to 50 percent on flights to most cities in the 1 
United States. Canada and Europe. ] 

Northwest said the North American fares applied for travel' 
between. Oct II and Feb. 15, but excluded the days just before! 
and after the Thanksgiving holiday, Nov. 24, and Christmas, Dw. ■ 
25. Tickets must be bought by Sept 30, and 14 days in advance of ■ 
travel A Saturday-night stay is required. Tickets for Europe must * 
be bought by Oat 7, and travel completed between Nov. 1 and’, 
March 31. . ; 

Rafl transportation between Portngal and points abro ad was sh ut) 
downTuesday, the second day of a weridong strike by conductors ’ 
of the country’s international and high-speed Intercity trains: . All* 
trains from Portugal to France and Spain will be canceled for the! 
week, as well as high-speed service between major Portuguese* 
rides, the xaflroad said. _ (AP)', 

Cathay Pacific Airways plans to inaugurate a route to Scantfina- * 
via in February with twice-weekly flights from Hong Kong to! 
Stockholm. Boring 747-400 jets will operate Tuesdays and Thun-' 
days from Hong Kong via Frankfurt, the airline said. Return! 
flights will leave on Wednesdays and Fridays. A thud weekly' 
flight is planned to start in March (AP)* 

Fhglrt schedules at Koala Lumpur International Airport are 1 

almcBt back to normal six weeks after a fire knocked out us radar, ‘ 

officials said Tuesday. (Reuters)- 

Singapore’s air pollution index was the worst oo record on! 
Tuesday as smoke from forest fires in Indonesia continued to* 

blanket the island and surrounding areas. The pollution standard! 

index rose to 142 by Tuesday from 1 10 on Monday, (Reuters)- 
A typhoon packing winds up to 160 kilometers (100 miles) per! 
hour was beading toward Japan’s main island Tuesday, leading - 
the meteorological agency to issue heavy rain warnings for the* 
southwestern part of the country. ^(AP ) »' 

Yanada, Yemen’s national airline, has resumed flights to Bd-j 
rut, becoming the 22d foreign carrier to return to Ixbanon since j 
the end of the 1975-90 civil war. (AFP) *> 

The number of cholera cases in Transylvania has risen to 20, the S 
Romanian Health Ministry said Tuesday. (Reuters)] 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 28, 1994 


Page 3 







THE AMERICAS/ 




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In Health Care Melodrama, Villains Are Many 




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By Robin Toner 

■ K New York Tuna Service 

" WASHINGTON — Who 
killed health care reform? As in 
^Muttier on the Orient Ex- 
press^*’ most of the suspects had 
their hands on the knife at one 
time or another: a divided 
Democratic Party on Capitol 
an overreaching Clinton 
administration, a fiercely parti- 
san class of Republicans, and a 
Relentless collection of interest 
groups. 

' President Bill Clinton has al- 
ready taken much of the blame 
for the collapse of the health 
care effort, judging from, his 
poll ratings. He raised enor- 
mous expectations when be 
stood before Congress a year 
ago, promising a vast new bene- 
fit to the middle class, urging 
the nation to believe that the 
federal government could, once 
again, step up to the challenge 
of creating big new domestic 
^programs, t •• 


By the time George J. Mitch- 
ell of Maine, the Senate major- 
ity leader, declared Monday 
that health care was officially 
dead for the year, many Ameri- 

NEWS ANALYSIS 

cans had not only stopped be- 
lieving that change would help 
them, they had also come to 
fear it. 

In recent weeks the message 
from the grass roots was to 
“slow down,” according to 
members of both parties. 

“Understand that our con- 
stituents are asking us not to act 
this year,” Representative Ben- 
jamin L. Cardin, Democrat of 
Maryland, said in an interview. 
“When you ask constituents, 
they say: Take more time. You 
haven’t reached a consensus 
yen’ ” 

The White House and its al- 
lies argue — correctly — that 


this transformation of the pub- 
lic mood did not just happen 
but was fueled by millions of 
dollars from interest groups 
and by weeks of disciplined Re- 
publican attacks. 

But the reality remains that 
the president was seeking some- 
thing big, something that would 
redeem his promise of a govern- 
ment devoted to the “forgotten 
middle class.” and was unable 
to deliver. 

He offered his plan as a 
“third way” between conven- 
tionally liberal and conserva- 
tive approaches to the problems 
of the health care system. But 
he found himself painted into 
an ideological corner, seeming 
to defend just the kind of big. 
bureaucratic Democratic pro- 
grams that be ran against as a 
“new Democrat” in the 1992 
campaign. 

Haley Barbour, the Republi- 
can national chairman, said in 
an interview. “The American 


people have rejected the Demo- 
crats* government-run health 
care system” — a line that will 
doubtless be repeated many 
times during the fall campaign. 

Congressional Democrats, 
many of whom will face the 
judgment of the voters far soon- 
er than the president, may end 
up taking some of the blame in 
a more subtle, indirect manner. 

Pollsters had long told Dem- 
ocrats on Capitol Hill — who, 
as a majority, have more to fear 
from the anti-incumbent mood 
— that one of the surest ways to 
protect themselves was with a 
solid record of legislative ac- 
complishment, centered on 
health care. 

“Sure, it would have helped," 
a Democratic strategist said. 

This, however, does not mean 
that the Democrats are about to 
let the Republicans off the 
hook. 

While the Democrats did 
have difficulty reaching a con- 


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POLITICAL NOTES 




Making Wh Rewater Waves 

. . WASHINGTON — In an unusual 
move, fivepast presidents of the Ameri- 
can Bar Association have issued a joint 

■ statement expressing concern about the 
fairness and objectivity of the judicial 
panel that appointed the independent 
counsel in the Whitewater investigation. 

The former association presidents 

■ said they were worried that political con- 
siderations “may have influenced the de- 
cision of the special court to replace 
Robert Fiske with Kenneth Starr as the 
independent counsel.” While expressing 
“the utmost confidence in Mr. Starr's 
integrity and objectivity,” they called on 

. the three-member judicial panel that ap- 
* points independent counsels to act in an 
impartial manner in the future. 

The statement is the latest in a string 
of criticisms leveled against the panel, 
which selected Mr. Stair because it felt 
Mr. Fiske's earlier appointment by At- 
torney General Janet Reno could call his 
objectivity into question. Two citizens 
— a New Haven, Connecticut, lawyer 
and a Virginia housewife — have filed 
formal complaints with the chief judge 
of the U-S. Court of Appeals for the 
District of Columbia Circuit seeking a 
review of Mr. Starr's appointment The 
court has declined to comment on the 
sealed complaints. 

The three-judge Special Court re- 
moved Mr. Fiske and appointed Mr. 
Starr this summer after some conserva- 


tives in Congress complained that they 
did not think Mr. Fiske was being ag- 
gressive enough in the initial phases of 
the Whitewater inquiry, which included 
an examination of the circumstances 
surrounding the death of Vincent W. 
Foster Jr., the White House deputy 
counsel. Mr. Fiske determined the death 
was a suicide. 

The abrupt change in counsels created 
a dispute after it was revealed that short- 
ly before announcing the change. David 
Sentelle, chief judge of the Special 
Court, had met with one of Mr. Fiske's 
harshest conservative critics. Senator 
Lauch Fairdoth. Republican of North 
Carolina. Both Mr. Sentelle and Mr. 
Fairdoth insisted that their luncheon 
■ meeting was a social event and that Mr. 
Fiske was not discussed. I H’P) 

Democratic Losses Loom 

WASHINGTON — President Bill 
Clinton's pollster sees larger-than-ex- 
pected losses for the Democratic Party in 
the midterm congressional elections. 

“We're going to see a new Congress 
when all of this is played out: it will 
certainly be more Republican." said 
Stan Greenberg in an address to the 
National Restaurant Association meet- 
ing here. ‘There is no scenario that will 
produce a more Democratic Congress.” 

Mr. Greenberg said that if this were a 
normal year, with the economy about 
what it is. Democrats could be expected 


to lose 5 to 5 Senate seats and 15 to 18 
House seats, based on past statistics. 

But. he said, “1 think you'll probably 
see something more than that.” 

Mr. Greenberg said there was an anti- 
incumbent mood in the country that will 
affect both parties, but he noted that in 
the congressional elections. Democrats 
have more to lose because there are more 
of them. 

Republicans arc shooting for a gain of 
seven seats to win control of the Senate 
for the first time since they won it in the 
RonaJd Reagan landslide of 1980 and 
held it for six years. 

In the House, they need to gain 40 
seats for control or 25 to 30 seats for 
effective control of the chamber, which 
has been in Democratic hands for most 
years since World War II. 

Regardless of the final numbers, Mr. 
Greenberg predicted a “very' different" 
type of Congress next year." He said he 
expected Mr. Clinton would reach out 
more to Republicans in forming legisla- 
tion and pointed to the last-minute com- 
promises with Republicans to win pas- 
sage of the crime bill. {Reuters I 

Quote/tlnquote 

President Clinton, as it was formally 
announced that his health-care plans 
were dead for the year: “For the sake of 
those of us who touched us during this 
great journey, we arc going to keep up 
the fight and wc will prevail.” ( XYT) 


sensus, the Republicans were, 
in fact, clearly in an obstruc- 
tionist mood, a point that Mr. 
Mitchell made again and again 
in his news conference Monday. 

He pointed, repeatedly, to a 
comment attributed to Senator 
Bob Packwood, Republican of 
Oregon, who is a leader in his 
party on health care: “We’ve 
killed health care reform. Now 
we’ve got to make sure our fin- 
gerprints are not on it.” 

Mr. MitcheLL, who gave up a 
chance at a seat on the Supreme 
Court to devote himself to the 
drive for health legislation and 
who usually speaks carefully, 
said flatly, “I think there is now 
a policy in place on the part of 
the Republicans of total ob- 
struction — that is to say, sim- 
ply to block anything and ev- 
erything no matter what.” 

The polls suggest that this 
may be a fertile appeal, with 
many voters already viewing 
the Republicans as naysayers 
acting more out of partisan 
needs than honest disagree- 
ment 

Republicans, while gleeful at 
the defeat handed to Mr. Clin- 
ton, were by and large careful to 
say that they, in fact supported 
legislation to overhaul health 
care — just not the kind pro- 
posed by the Democrats. 

“In fact there was an over- 
whelming consensus on the part 
of the American people to put 
on the brakes, and my view is 
we saw democracy in action.” 
said Bob Dole, the Senate mi- 
nority leader. 

He asserted that the Ameri- 
can people “want a bill that 
preserves quality, choice and 
jobs and addresses the issues of 
cost" and he predicted that this 
would be “at the top of the 
agenda" when the Senate re- 
turned next year. 

In fact underneath all the 
finger pointing and political 
games is an underlying reality: 
The American people, for all 
their fears, still express support 
for the broad goals of health 
care restructuring. 

And policy analysts of a vari- 
ety of stripes argue that the na- 
tion must still deal with the 
growing gaps and escalating 
costs of the health care system. 

This means that health care 
legislation will almost undoubt- 
edly return to Congress next 
year, although in a very differ- 
ent form, members in both par- 
ties say. 



A vendor selling buttons that read: “Simpson Juror Reject, Did Not Make the Cut* 


Fred Pirocf ' Rcmm 


Simpson Judge Optimistic on Jury 


Reuters 

LOS ANGELES — Hie judge presiding 
over the O J. Simpson murder trial indicated 
Tuesday that the selection of an impartial 
jury in the highly publicized case did not 
appear to be as difficult as it first seemed. 

On the second day of jury selection. Judge 
Lance A. I to of the Superior Court said the 
process was going smoothly and that the 
number of potential jurors who might qualify 
for the final pool of 250 appeared to be 25 
percent to 30 percent higher than he had 
expected after only one day. 

He added that the final pool from which 
the jury would be picked could be settled as 
early as Thursday. 

Mr. Simpson, a football hero turned actor 
and advertising pitchman, has pleaded not 
guilty to charges that he murdered his former 
wife. Nicole Brown Simpson. 35, and a friend, 
Ronald Goldman. 25. outside Mrs. Simpson’s 
town house on June 12. 


Addressing the pool of potential jurors. 
Judge Ito said: “I have never seen a case as 
unusual as this case. This is probably the most 
important decision you will make in your 
personal life. This is the most important deri- 
sion of any American citizen. I need a fair 
jury.” 

Of the 241 jurors brought in Tuesday. 79 
said serving on the jury would cause a hard- 
ship and asked to be excused, 72 said serving 
would pose no hardship and 90 were unsure. 
The judge and attorneys then discussed who 
should be excused and who should be ques- 
tioned further. 

Judge Ito excused 1 19 jurors Monday and 
told 109 others to fiD in exhaustive. 75-page 
questionnaires. 

The judge had originally planned to ques- 
tion about 1,000 prospective jurors to get a 
pool of 250, but indicated Tuesday he might 
not need to question that many because the 
dropout rate was lower than expected. 


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Away 


From Politics 


-•A woman swimming off 
Hilton Head, the South 
Carolina resort island, was 

■ bitten from her chest to her 
thigh by what authorities 

■ suspect was a 1 0-foot (3- 
meter) shark. Lioubov Ko- 
zarinova of Maryland was 

“ in good condition. Whatev- 
er bit her had a bite radius 
of about IS inches (45 cen- 
“timeters), an official sakL 

’ • Janies E, Swarm Jr., the 
• shotgun stalker who terror- 
ised Washington neighbor- 
hoods, last year, was de- 
^clared not guilty by reason 
"of insanity in 14 attacks — 
including four slayings — 
“after psychiatrists trad a 
judge that Mr. Swann was 
‘ driven. to shoot people by 
' screaming, disembodied 
“voices only he could hear. 

° Thejudge ordered him con- 
- fined indefinitely in St. 

' 'Elizabeths Hospital, a psy- 
-chialric facility. 

• The Energy Department 
'has decided to delay the ar- 
rival of ships delivering xa- 
-dioactrve waste from Eu- 
1 rope, giving South Carolina 
-more time to try to get the 
.'courts to block the ship- 
ment Two ships carrying 
”153 spent nuclear fuel rods 
-are several males off the 
“Carolina coast The ship- 
ment is part Of a U-S- effort 
-••to keep weapoos-grade ura- 
nium out of the. wrong 
'hands. 

'• The longtime president of 
■United Way, removed from 
his post in 1992 over allega- 
tions of lavish spending 
with charity-money, was or- 
dered to stand trial in Feb- 
ruary oh charges be helped 
loot $1-5 milli on. William 
'Aramony has pleaded not 
guilty to charges he divert- 
ed funds to buy a New 
York City apartment for 
his girlfriend, among other 
things. 

AP, WP 




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Page 4 


WEDNESDAY, SEPTEMBER 28, 1994 

OPINION 




Beralit 


INTERNATIONAL 



Sribune 


Puhliahed With The Nw 'Y«ekTinw» and Tta vpJhinjAnn ft>st 


Stick to the Bosnia Plan 


It develops that Bosnia's beleaguered 
Muslim government wants the discrimi- 
natory United Nations arms embargo 
lifted, but not right away. Early lifting, it 
fears, win expose it immediately to heavi- 
er battering by its better-aimed Bosnian 
Serbian foes through a difficult winter 
-nd before it could expect to profit itself. 

This forecast by the M uslims , whose 
victim status gives them a special claim on 
L:^mational regard, tends to confirm the 
Lf prehension that lifting the embargo 
•\ ;du widen The war without conferring 
• Cii, if any, advantage on the underdog 
-slims. Bui politically a delay in imple- 
- 'i la lion would ease the conflicting pres- 
. js on President Bill Clinton: Congress 
Jrges him to lift the embargo and Russia 
and the Europeans to keep it in place. 

This development, if it is real, would 
still leave Bosnia in desperate straits. If 
the military balance is not going to be 
altered soon, then other steps need to be 
LiLen to enforce the five-nation peace 
plan. For all its flaws, this plan is the 
only internationally supported vehicle 
with any chance to stop the war. partly 
peel back the Bosnian Serbs and bring 
some relief to what remains of Muslim 
and multiethnic Bosnia. One of these 
steps was just discussed at Bosnian in- 


stance at the United Nations: to create a 
5-kilometer (3-miiej demilitarized zone 
inside the existing 20-kilometer no- 
beavy-weapons zone around besieged 
Sarajevo. But of course neither zone is 
worth a pig's whistle if it is not enforced 
with air power. Here the UN-NaTO 
record has been abysmal. 

Then extra economic aid has got to be 
provided to help carry the Bosnian Mus- 
lims and their Bosnian Croatian partners 
through the hard Balkan winter. 

Most important of all is to demand high 
performance from Serbia in sealing its 
border with the Serbian parts of Bosnia. 
Serbia is doing this under duress to earn a 
reprieve from punishing international 
sanctions. In return the United Nations 
has now repealed for a trial period some of 
the lesser sanctions: on sports and cultural 
contacts and on passenger Sights. At the 
same time, to drive the wedge between the 
Serbs a bit deeper, the United Nations 
tightened sanctions on the Bosnian Serbs. 

It is not enough for Serbia to close the 
border, even with monitors. It did the most 
to launch the war. and it must be held 
responsible for getting its former pets, the 
Bosnian Serbs, to sign on the international 
dotted line. Anything less is a joke. 

— THE WASHINGTON POST. 


The Health Care Collapse 


The majority leader of the U.S. Senate, 
George Mitchell, buried health care re- 
form Monday, asserting that it would be 
impossible to pass even a scaled-back bill 
in the days before Congress breaks for 
elections. That is probably true. Congress 
has thereby blocked President Bill Clin- 
ton's main legislative initiative and con- 
signed 40 million uninsured Americans 
to another year of medical roulette. ’ 
The defeat ought to trigger an orgy of 
blame, and there is no shortage of deserv- 
ing recipients. White House insistence on 
secret deliberations produced a bill that 
no one on Capitol Hill was committed to 
support. A politically inept health advis- 
er. Ira Magaziner, designed a legislative 
behemoth that scared most members of 
igm?*? — and the public. Hillary Rod- 
,._u Chuton alienated the pharmaceuti- 
cal industry and other interest groups 
that she ultimately needed to push reform 
through Congress. Demagogic special-in- 
terest lobbying and cynical Republican 
obstructionism designed by Bob Dole in 
the Senate and Newt Gingrich in the 
House played a role in the final stall. So 
did the listless advocacy of Mr. Mitchell 
and puzzling embrace of defeat by Mr. 
Clinton and his disorganized White 
House staff. There will be plenty of time 
to figure who did the most damage. 

But it is at least as important to look 
forward as it is to look bade. A new and 
probably more conservative Congress will 
tackle health care next year. That puts 
even more emphasis on striking a biparti- 
san accord. On that score; Americans can 
take encouragement from the last few 
weeks. Mr. Mitchell has come to near- 
complete agreement with the “mainstream 


coalition** on a fine bill that would provide 
market-driven health care reform. 

It would not guarantee every American 
coverage — as the president had prom- 
ised — but it would establish universal 
coverage as a national goal and subsidize 
insurance for low-income children and 
pregnant women. The Mitch ell-coalition 
compromise bill provides an excellent 
springboard for next year. 

The danger is that Congress will try to 
undertake a series of piecemeal reforms 
that will almost surely fail to control costs 
or preserve the health care system's unri- 
valed capacity to innovate and improve. 
States can stnke out on their own, but a 
crazy quilt of 50 different reforms — 
which would leave millions uninsured in 
its wake — would be unacceptable. 

Mr. Mitchell chose to forfeit the game 
rather than force a vote on a compromise 
bill and incur the risk of an embarrassing 
defeat for himself and the president Mr. 
Mitchell will be leaving the Senate, as will 
the pro-reform Republicans John Dan- 
forth of Missouri and David Durenber- 
of Minnesota. That will make Mr. 
lin ton’s task that much more difficult 
The president above all needs to absorb 
the lessons of his defeat calculate what is 


politically possible and help design a bi- 
partisan plan ti 


that can be sold to the 
public and then to Congress. 

The energy burst of the 1992 election is 
now a distant memory and the goals of 
market reform and universal coverage 
seem far away. Mr. Clinton faces a long, 
grinding march to reach those goals, but 
reaching them is still his surest bet to win 
a strong place in the history books. 

— THE NEW YORK TIMES. 


Sweden’s Vote for Women 


Sweden’s election last week put the 
Social Democrats back in office after 
three years of conservative rule. It also 
brought the share of women in the 
Swedish Parliament to 41 percent, the 
highest in the world. 

Europe’s Nordic countries set a high 
standard for sexual equality in politics. 
The Finnish and Norwegian Parlia- 
ments are both 39 percent female; the 


Danish percentage is nearly as high. 
Even before this election, the Swedes 


had 33 percent. Sweden's big jump this 
time resulted from the Social Demo- 
crats' insistence that every other candi- 
date on its list be female. With counting 
nearly complete, at least SO Social Dem- 
ocratic women have been elected. Add- 
ing those from other parties, the new 
Parliament will include 142 women. 

Americans may find a 50 percent quota 


a mechanical means to a worthy end. But 
America's hit-or-miss approach has left 
women badly underrepresented in politi- 
cal life. Indeed, 1992 was hailed as “The 
Year of the Woman" when the number of 
female senators rose from three to six — 
out of 100. Thanks to the 1993 election of 
Kay Bailey Hutchison, there are now sev- 
en women in the Senate. The House has 
47, just over 10 percent of its membership. 
Women occupy 5 out of 50 governorships. 

No major U.S. party is likely to follow 
the Swedish Social Democrats’ example 
any time soon. But they could set higher 
targets for nominating women and make 
serious efforts to achieve them. That 
might help reduce the alienation that 
voters now feel about politicians who 
often seem distressingly remote from 
the concerns of ordinary life. 

— THE NEW YORK TIMES 


Other Comment 


Closing In on ihe 'Missing link’ 


Sixty years ago. the idea that people 
were descended from apelike creatures 
seemed shocking Darwin's “Origin of the 
Species" had been attacked as blasphe- 
mous by fundamentalists like William Jen- 
nings Bryan. Reports that scientists have 
found the bones of the oldest known an- 
cestor of human beings no doubt will set 
Mr. Bryan spinning in his grave again- The 
remains, discovered in Ethiopia, appear to 
be 4.4 million years old, more than a half 
million years older than the earliest human 
ancestor previously unearthed. 

The find provides a key link in the 
evolutionary chain connecting modem hu- 


mans with the earliest primates. Research- 
ers believe the line that led to modem 
humans split off from the ancient apes 
between 4 million and 6 million years ago. 
Old as these bones are, they still do not 
represent the “missing link* 1 long sought as 
the common ancestor of humans and apes. 

Millions of years from now modem 
humans will also have joined the fossil 
record. If there are intelligent creatures 
around to dig up our bones, you can be 
sure any one who dares suggest we might 
be their ancestors will be denounced. Dar- 
win was right, but that probably won’t 
make it easier for our descendants to swal- 
low the truth about their bumble origins. 

— The Baltimore Sun. 



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Question for 2030: Who Will Be Able to Feed China? 


W ASHINGTON — The population 
of China is growing by 14 milli on a 
year. Incomes are climbing at a record 
rate, so the consumption of meat is rising 
even faster than the population. Yet the 
country’s capacity to produce food is 
shrinking as a result of widespread con- 
version of cropland to industrial hous- 
ing, transport and other uses. 

In Japan, the soaring demand for 
grain, driven by prosperity and the loss 
of cropland to industrial development in 
this half-century, has pushed dependence 
on grain imports to 77 percent of total 
consumption as of last year. 

These same forces are now at work in 
China. It is one thing for a nation like 
Japan, with 120 million people, to turn to 
the world market for most of its grain, but 
if a nation of 151 billion moved in that 
direction, it could quickly overwhelm the 
export capacity of the big producer coun- 
tries and drive up food prices everywhere. 

Suddenly, China is starting to lose the 
capacity to feed itself. The decline comes 
after four decades of impressive progress, 
particularly since the agricultural re- 
forms of I97S, which transferred land 
from production teams to individual 
f amili es. The energies unleashed by these 
reforms boosted China’s grain output by 
half, to more than 300 million tons in 
1984 from 200 million tons in 1977. That 
put China ahead of the United States as 
the world's leading grain producer. 

Growth in output has slowed since the 
mid-1980s, but the earlier gain was 
enough to eliminate the traditional threat 
of f amin e. The issue now facing Beijing is 
not starvation but the prospect of a gap 
between demand for food and its produc- 
tion — a gap that will dwarf anything the 
world has seen. 

This potential grain deficit is raising 
one of the more difficult questions inter- 
national leaders have had to face: Who 
will feed China? The world’s most popu- 
lous nation is moving into uncharted 
territory on the food front This inevita- 
bly will affect other countries. 


By Lester R. Brown 

77i« is the first of two articles. 


three years. Never before have incomes 


of so many people risen so rapidly. 

* be first things 


As this happens, one of the i 
people on low incomes do is to diversify 
tbor diets, shifting from monotonous 
fare in which a starch staple such as rice 
supplies 70 percent or more of total calo- 
ries. to more meat, milk and eggs. 

Much of China is barren desert In a 


country where there is no vast grazing 
' like that of the U.S. Great Plains , 


land 


While China ’s food production capaci- 
ld is su rging . From 


ty is eroding, demand is surging. From 

100/1 00*10 .L _ _ r _ - 1 


1990 to 2030, the population is projected 
to 1.6 biHic 


to increase to 1.6 billion while incomes 
continue to rise. The Chinese economy 
has expanded by 40 percent in the last 


the rising demand for livestock products 
translates directly into demand for addi- 
tional grain. 

When China launched economic re- 
forms in 1978, only 7 percept of China’s 
grain was bang used for animal feed. By 
1990, that share had risen to some 20 
percent, most of it used to produce pork. 
Now, demand for beef and poultry is also 
climbing. More meat means more grain — 
2 kilograms (4.4 pounds) of additional 
grain for each kilogram of poultry, 4 for 
pork, and 7 for each kilogram of beef 
added in the feedloL 

If the supply of grain does not expand 
apace with the appetites of the Chinese, 
food prices will soar. China's voracious 
demand for animal protein could over- 
whelm the world’s grain-producing capac- 
ity unless alternatives to livestock are 
found. One precedent is found in Japan, 
winch long ago adjusted to the limitations 
of its land by turning to the oceans for 
protein, giving rise to the now traditional 
fish and rice diet. 

China's appetite for seafood, too, is 
rising — but with a key difference. In 
recent years, as fleets of other seafood- 
hungry countries have joined Japan in an 
aggressive hunt, the mam ocean areas 
have been fished at or beyond capacity. 
The Japanese option has been eliminated 
for any major newcomers. As a result, 
China is having to grow its fish in ponds. 
It is doing so at a rate of 6 million tons 
per year. But this puts new demands on 
the country’s shrinking cropland. Gose 
to 12 million tons of grain were used in 
1993 in these marine feedlots. 

The good life for newly affluent Chinese 


does not stop wi th meat and fish. They are 
also acquiring great enthusiasm for beer. 
Were each adult to drink just one more 
bottle a day, an additional 370,000 tons of 
grain would be required. 

As the demand for grain soars, there is 
little potential left for planting new crop- 
land. Much of China's huge landmass is 
arid and unproductive. Food-growing 
capacity is concentrated in a relatively 
small area — a band of river valleys 
constituting about one-third of the coun- 
try alongjhe southern and eastern coasts. 
This is wnere the bulk of the population 
lives. As both that population and the 
industrial economy grow, there will be 


With the area of land under cultivation 
dedmim favorably. Cto* •£%£ 
Usdt now rests entirely on raising pe . 

. f: UMnn i.n4 Hfflveuer. Bee 



feed itseu now row 
productivity of its 
yields are starting to level off, 
tons per hectare. The potential raising 
them further appears to be lumted. With ; 
wheat, China’s other Food staple, thdnse. 

tfrsxe' prospect of W ‘ 
large pa ms from further use of fer tilize r. 
After climbing from 7 mflhon tOTS m ‘ 
1977 to nearly 29 million tons iil/ 1993, 
fertilizer use is stabilizing as fanners 
reach the point of d i minish i n g re turn s. „ 
Without the development of new oral j 
varieties that can respond to heavier ap- • 
plications erf nutrients, the risa in wuds . 
can be expected to slow dramaticajy. - 
Food production in China will also be 
slowed by several environmental trends, 
including seal erosion, waterlogging and * 
salting of irrigation systems, air poll u ti o n - 
and global warming. , ■ 

There is little prospect, then, that China.. 

can raise productivity fast enough to offset 

the loss of cropland With gram produo- • 
tion leveling off and then dropping by 1 * 
percent or more this year, the long-term ' 
decline may be starting. 

Assuming that rapid industrial growth .» 
f-o ptinnes, It appears Hkdy that China’s^ 
grain output will fall by at least one-fifth - 

by 2030. The resulting grain deficit will be ^ 
huge — many times that of Japan, now the , 


ByHANELQkWSyTxScwc. 


competing demands on the land for fac- 


tories, housing, roads and highways. In 
s, the 


each of the last three years, the loss has 
amounted to nearly 1 million hectares 
(2J million acres), or 1 percent of Chi- 
na’s cropland per year. 

Meanwhile, irrigation water is being 
diverted on a large scale to non-farm 
uses. This is a matter for acute concern 
in a country where half the cropland is 
irrigated The drilling of milli ons of 
wells for irrigation is lowering water 
tables in much of China. The aquifer 
under Beijing, for example, has dropped 
from 5 meters (16 feet) bdow the sur- 
face in 1 950 to 50 meters below in 1993. 


In 1990, China produced 329 million , 
tons of g ram and consumed 335 million , 
tons. Allowing only for the projected / 
population increase, with no rise in con- , 
sumption pa person, China’s demand ^ 
for grain would increase to 479 miUion * 
tons by 2030. 

So even if China’s booming economy \ 
produced no gains in consumption of , 
meat, eggs and beer, a 20 percent drop ^ 
in grain output, to 263 million- tons, ' 
would leave a shortfall of 216 million ■ 
tons. That level would exceed the J 
world’s entire 1993 grain exports of 200 
milli on tons. 


The writer is president of the World- • 
watch Institute, an environmental research * 
9. He contributed this comment to the 
! Herald Tribune. 


liik* 


-;h 



i 


■ . \.. 


. .1= 

■ , ■ i 


•"■i.-’ : •• • 


All the Empty Threats Against Japan Have Gotten America Nowhere 


■ i 


W ASHINGTON — President 
Bill Clinton has moved to 
preserve his credibility in Haiti 
but his resolve is bong challenged 
on another front — trade prob- 
lems with Japan. At stake are 
some of the president's best hopes 
for creating good jobs and sus- 
taining economic growth. 

Mr. Clinton has set a Sept 30 
deadline for deciding whether 
U.S. and Japanese negotiators 
have made adequate progress in 
opening up Japanese markets, or 
whether the United States wQl 
have to take action to ensure that 
U.S. companies are not unfairly 
disadvantaged in those markets.' 

Powerful voices in Tokyo, on 
Wall Street and even in ms own 
administration want him to let 
the deadline. pass. They would 
rely on forces such as exchange 
rates and Japanese reformers to 
solve the trade problems. They 
portray any possible trade action 
as scapegoating Japan for Ameri- 
ca’s own home-grown economic 
problems and as thinly disguised 
protectionism. And they blame 
the administration's flirtation 
with “managed trade** for the 
dollar’s recent problems. 

But these arguments blame the 
victim, ignore the serious costs 
imposed on the United States and 
world economies by Japanese 


By Clyde V. Prestowitz Jr. and Alan Tonelson 


protectionism and forget the keys 
to successful negotiating. 

For decades Japanese trade 
barrios have unjustifiably hurt 
not only American companies 
and workers but their Asian and 
European counterparts. They have 
limited job creation, depressed 
wages and prevented competitive 
non-Japanese businesses from re- 
alizing economies of scale and am- 
ortizing investments. 

These costs are much higher 
than most economists recognize; 
a recent study by the Economic 
Strategy Institute shows that Jap- 
anese barriers are depressing U.S. 
exports by $50 billioa annually. 


preventing the creation of up to 
1 million jobs 


and depressing 
world economic output by $400 
billion a year. 

President Clinton needs to re- 
member that the traditional ap- 
proaches to Japanese trade issues 
have had no discernible effect on 
the trade balance. Not even the 
yen's dramatic rise since 1985 has 
helped. The currency markets' re- 
action to the latest monthly trade 
figures shows that the continuing 
deficit and not the president’s 
trade policy, are largely responsi- 
ble for exchange rate volatility and 
the weakening of the dollar. How 


else can the markets react to the 
prospect of huge current account 
imbalances with no end in sight? 

More sobering, American in- 
dustry’s remarkable across-the- 
board competitive comeback in 
recent years has not affected the 
trade balance either. 

American goods have never 
had bigger price advantage in Ja- 
pan, and as all economists agree, 
their quality has not compared as 
well for many years. Yet the bilat- 
eral deficit this year threatens to 
break $60 billion — a record. 

The president should remember 
that he has a strong case to make. 
Indeed, although autos and auto 
parts still account for most of the 
deficit, he can make many strong 
cases. Take the flat glass industry. 
The $45 bQHon Japanese market 
is the world’s second largest. Japa- 
nese production costs in this capi- 
tal -in tensive industry are kept 
among the world's highest by high 
energy costs. And Japan has 
lagged in developing and using 
technologically advanced glass 
products like insulating glass, lam- 
inated safety glass, and high-per- 
formance glass coatings. U.S. and 
European firms dominate these 
product areas. 

Yet, in 1993, glass imports ac- 


counted for just 3 percent of the 
Japanese market — a level much, 
lower than in any other industrial- 
ized country. The main reason: 
Japan’s market is a cartel divided 
among three Japanese producers 
that have held virtually constant 
share for 20 years and have tightly 
controlled distribution. 

The president also must re- 
member that, whether in trade 


consequences for noncamphance 
and without following through 
usually leads nowhere and de- 
stroys credibility. 

The rest of the world is watch- 
ing. If the United States simply 
accepts Japanese intransigence, 
how wQl it open markets in China 


customs house. He could emulate 
the Japanese themselves and re- ^ 
attire their products to undergji" 
the same Mickey Mouse inspec- 
tions to wfajchAmeri can products 
sold in Japan are subjected. 

The stand-patters rightly argue 
that such practices are neither 
“legal” nor “transparent” and 
thus unfair. Bat they object to thh 
president’s legal remedies as weJL 
They should simply admit that 
they don’t care about solving 
America’s Japan trade problem. 

The president, however, has to 
care If negotiations do not suc- 
ceed, he wifi have no choice bnt to 
use remedies provided by U.S. 
trade laws. Far from representing 
protectionism, these measures 


— whose surplus with America 
ach $25 billion this year 


will approach 
— or in other countries? 

Finally, the president should 
keep in mind that the Japanese 
themselves have agreed to seek 
trade solutions that can be mea- 
sured in some way. 

Of course, the president has 



many options for responding to 
‘ er than 


Japanese barriers other 
those afforded by the 30 1 or Title 
of U.S 


- - egre- 

gious problems — cartelized in- 
dustries, controlled distribution 
systems, unfair government pro- 
curement practices. If Washington 
win not press such open-and-shut 
cases, what economic interests will 
it defend? What message will it be 
sending to the rest of the world? 


VH sections of U.S. trade laws. 
He could emulate the French and 
force all Japanese products to ou- 
ter the country through a single 


Mr. Prestowitz is president and 
Mr. Tonelson a fellow of the Eco- 
nomic Strategy Institute. They 
contributed this comment to The 
Washington Post. f 


Upbeat Brasilians Look Ready to Put Scandal Behind Them 


R IO DE JANEIRO — A wave 
of optimism is rolling over 
Brazil. Riding the wave is Fer- 
nando Enrique Cardoso, the for- 
mer finance minister who now 
looks like such a sure bet to win 
Monday's election for president 
that he may do so on the first 
ballot — a feat that seemed im- 
possible a few months ago. 

The latest opinion polls show 


By Philip Bowring 


him with 45 percent of the vote, 
twice the level of his 


his main leftist 
rival Luiz In&so da Silva, who is 


widely known as Lula. 
If the 


World Cup soccer victory 
helped raise national spirits, it is 
the success of the Plano Real the 
new currency and anti-inflation 
strategy conceived by Mr. Car- 


cupboards at critical moments. 
But most Brazilians are hoping 
the third time will be the charm. 
The country saw its first presi- 
dent after the return to civilian 
rule, Tancredo Neves, die sud- 
denly. Its second, Fernando Col- 
lor de Meflo, was impeached. In 
both cases the presidency then 
fell to men with few ideas and 
tittle ability to extract results. 

Mr. Cardoso’s progress is 
bringing the hope that politics 
and economics can move togeth- 
er, creating adynamic that mil be 
able both to tackle the nation’s 


doso, that has won over a public 
. failure of 


skeptical after the past 
many such plans. 

Yet if he is to meet Brazilians' 
expectations, a President Car- 
doso would have to use the mo- 
mentum of his election to push 
through major changes in the way 
Brazil is governed. In particular 
he would need to bring about 
fiscal reforms to underpin 
the new currency. 

There is a rough consensus for 
change^ But getting it through 
Brazil's complex and decentral- 
ized U.S.-style political structure 
is another matter. Indeed, the 
long-term outcome of Monday’s 
mammoth process, with the lower 
house, two-thirds of the Senate, 
and all state legislators and gover- 
nors up for election, may affect 
the durability of democracy. 

While Brazil has been relishing 
its democratic freedoms and po- 
litical rivalries, there is a per- 
ceived need to make politics less 
corrupt and more capable of de- 
livering effective government 

Even in the short run, nothing 
is certain. Brazilian politics has a 
habit of springing surprises, 
many of them nasty. Skeletons 
have a habit of popping out of 


The long-term outcome of 
Monday's election may 
affect the very durability 
of democracy in Brasil. 


social and political problems and 
to restore economic growth to 
levels enjoyed up Vo the lave ’70s. 

If things go well on the political 
front, suggests the noted econo- 
mist Carlos Langom, GNP growth 
should exceed 6 percent next year 
and 8 percent in 1996. Profits are 
responding to a revival of demand 
and the impact of productivity 
gains forced on them by recession 
and foreign competition. Business- 
men are exhibiting op timis m un- 
seen for years. Regional trade lib- 
eralization has helped. 

Foreign portfolio capital has 
been flooding in. Long hobbled 
by debt, Brazil today can afford 
investment-driven demand stim- 
ulus: Foreign reserves exceed $40 
billion and the trade surplus is 
running at $12 billion a year. 

Mr. Cardoso’s popularity may 


seem surprising in Brazil where 
alorful figures 


colorful figures and state-based 
machine politicians are tbe usual 


alternatives. A soft-spoken, left- 
of-center former professor, he has 
a telegenic smile but few other 
attributes of populist politics. But 
perhaps that is his strength. 

If Brazil Has tired of dema- 
goguery, scandals and quack rem- 
edies, Mr. Cardoso's time may 
have come. He has captured the 
center and forced those to the 
right to back him against Lula, 
who nearly won in 1989. 

Lula, the working class hero, 
remains personally popular. But 
there is a sense that the policies he 
represents are outdated — a mix- 
ture of so cialism and nationalism. 
And some fear thru Lula's Work- 
ers Party would be stymied by a 
mostly conservative Congress. 

Mr. Cardoso will not find it easy 
either. Last year, confusion and 
lack of presidential leadership 
caused the Congress to pass up an 
opportunity to amend the consti- 
tution by simple majority vote. 

There are those who fear that 
Mr. Cardoso has the right ideas 
but lacks the toughness to push 
them through. His running mate, 
Marco Maciel is seen by critics as 
an opportunist from a political 
clan in the electorally important 
but economically backward 
Northeast. But a resounding vie-' 
tory would give Mr. Cardoso mo- 
meatum to push changes through 
a Congress that will remain 
splintered. His many years in 
Congress will enhance his ability 
to get results — unlike Mr. Col- 
lor, who antagonized Congress. 

Most urgent will be fiscal re- 
forms to improve die tax system 
and reduce tbe states* ability to 
undermine federal monetary poli- 
cy. Though Mr. Cardoso’s reputa- 
tion rests so firmly on the Plano 
Real be is unlikely to preside over 
a return to hyperinflation. But 
without fiscal reform it will be 
impossible to bring inflation down 


permanently to international (and 
now Latin) norms. Other early 
changes wfll speed up privatiza- 
tion and allow foreign investment 
into prohibited sectors. 

Other key issues requiring the 
president and Congress to act in 
conceal indude the bankruptcy of 
the social security system, and ]&- 


generating urban employment 
Fiscal reform, if achieved, will 
raise revenue from the under- 


bqr laws that protect the organized ' 
and Bnrit employment 


minority T ~v— 

opportunities for the majority. 

Tackling Brazil’s notorious so- 
cial and income-inequality prob- 
lems wDl not be easy. But a stable 
currency will benefit those not 
protected by inflation indexation. 
And it wifi lower real interest 
rates, thereby encouraging invest- 
ment and shifting government re- 
sources from debt service into 
iroductive or social sectors. 
~ ie recovery in growth is already 


K 


to projects that are either eco- 
nomically sound or promote tbe 
health and welfare of the poorest 

But axaiding, on land reform or 
public health, will have to twin* 
second place to fiscal stabilization. 

Brazil’s income distribution 
problems are due as much to the 
varying levels of development of a 
vast country as to the greed of the 
elite. C h ang es not just in the fiscal 
system but in social attitudes and 
education are needed First, a sta- 
ble macroeconomic and political 
environment is needed. 

_ The belief that the coming, dec- 
tion can at last deliver those is at 
the root of today’s optimism. 

International Herald Tribune. 


IN OUR PAGES; 100, 75 AND 50 YEARS AGO 


1894: China Imperiled 

PARIS — The despatches tele- 
graphed by one of our Special 
Correspondents ax Shanghai dur- 
ing the past few days have coa- 
tamed news from the seat of war 
in the East that shows that China 
has received such a shock as to 


in ecs, Lithuania and CoudaiuL 
Marshal Foch, as Commasder- 
mrChkf of the Allied Annies , is 
to send the ultimatum, winch is to 
take the form of a Note. 


almostiustify a fear of disin 
. The forei 


tion. The foreign Mantschoo _ 
nasty of Emperors are about to 
abandon Pern, which has been 
their capital for nearly three hun- 
dred years. The Chinese regular 
army have degenerated into an 
armed rabble. The authority of 
the Mandarins is im peril pH , 


1919: Baltic Ultimatum 


PARIS — The Council of Five of 
the Peace Conference has sent an- 
other ultimatum to Germany, de- 
manding tins time the evacuation 
of all German troops under Von 
dcr Goltz from the Baltic prov- 


1944: B anmttlandhig 

ROME — [From our New York 
edition:] Allied forces have land- 
ed in Albania and on the Adriaz- r* 
ic islands of Yugoslavia on a 7^ 
wide front, it was announced to- 
?*y ISepL 27). The action was 
believed to b e the opening blow 
of a pincers drive against Adolf 
Hitler’s crumbling Tt ancAn em- 
pire in co-ordination with the 
Red Army to the north. Air and 
sea borne troops of the newly: 
formed Land Forces of the Adri- 
atic made the first big penetra- 
tion of the Balkans by tbe west- 
ern Allies and Berlin said . 


J was in pt. 

-male front on the Albanian • 
Yugoslav coasts. 


i 

















INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 28. 1994 


Page 5 



OPINION 


s 


, ****** 


They’ve Made It Quite Clear: 

:ets 



THE O T TRIAL: 

- hknolVim- 


By A. M. Rosenthal 


U\ 


0 fart'-r,..-. 
f i.n: 
aMfkuni-j 1 : 


er'iv N<mb 


TOhEW YORK — The two massa- 
i/ljpes do not appear on the agen- 
da.^ presidents and prime minis ters 
atteqri tbe new session of the UN 
General Assembly in New York. 
Bui tbe plain reality is that they are 
the essence of what the United Na- 
tions is. supposed to deal with; ag- 
gression and expanding threats to 
international peace and security. 

The .fust massacre took place on 
Maijch 17, 1992; the bombing of (he 
Israeli - Embassy in Buenos Aires. 

| Twenty-nine people were killed. The 
message was that no .Israeli estab- 
lishment, anywhere in the world, 
was safe from attack. . 

The second took place on July 1 8. 
1994, again in Buenos Aires: the 

i 

July 18 in Buenos Aires 
waslonjg-distance 
KrisUxQnacht . 

bombing of ihe main center of the 
Argentine Jewish community. Nine- 
ty-five people were killed. Tins time 
the message "was different: Tbe war 
is a gains t afl Jews, not just Israelis. 

Both bombings were carried out 
with the same techniques, by oper- 
atives working out of the same for- 
eign base, dispatched by the same 
organization. According to infor- 
mation from intelligence sources, 
commercial ingredients easily 
available in Buenos Aires were 
used to create a devastating explo- 
sive, which was loaded in a van and 
detonated by a suicide bomber. 

Both Buenos Aires bombings, in- 
telligence ■ agencies believe, were 
earned but by members of Ansar 
Allah, a branch of the Hezbollah, 
the militant Islamic organization 
financed by Iran and quartered in 
Lebanon's Bekaa valley, an area 
totally controlled by Syria. 

In both cases, a small squad of 
terrorists journeyed to Argentina 
from the Middle East, stopping off in 
different countries before the last leg 
to Argentina. There they made con- 
tact with Hezbollah cell members. 

Tbe similarit ies are so brazen that 
they are like a note left behind and 


fc 

*■ 

if 

d 

ft- 


rf:.- • 

:■ 

t* *'<■ 

: ; 


i 

1 


- 


Letters intended for publication 
should be addressed "Letters to the 
Editor" and contain the writer’s sig- 
nature, name and full address. Let- 
ters should be brief and are subject rp 
editing. We cannot be responsible for 
the return of unsolicited manuscripts 


written large: We did it and we will 
do it again, know us. But not a single 
arrest or report in the 1992 bombing 
has been made by Argentina. 

In the United States, Argentina 
and Israel, Jewish groups ask whether 
Argentine “neo" Nazis helped the 
bombers. American sources say they 
have no such .evidence but do know 
of connections between the militants 
and Nazis in other countries — in- 
cluding the United States. 

In any case, not one official 1 have 
talked to in any country doubts that 
Iran knew of and approved the Bue- 
nos Aires operations. The Israelis say 
so publicly; Westerners ask that their 
names not be attached. 

Soon after the 1994 bombing, the 
Argentines issued warrants for some 
suspected Iranians, then withdrew 
them and apologized to Iran. Profes- 
sional intelligence people do not 
charge an Argentine cover-up, and in 
a real sense the bombings make Ar- 
gentina a victim of Middle East ter- 
rorism. But overall, the investigations 
have not been a triumph for tbe Ar- 
gentine government — an embarrass- 
ment would put it kindly. 

■Some of my sources say that may- 
be the Syrians did not know in ad- 
vance of the first Hezbollah massa- 
cre. maybe. But not to get a hint that 
a second attack against ibesamedty 
could be launched from the Bekaa 
— that is fairy-tale time, children. 

The only question about the sec- 
ond message — the war is against all 
Jews — is why it has taken so long to 
get across. There were no Israelis in 
that Jewish community center, and 
the bombers knew iu 

Somehow Westerners have not 
grasped the fact that the terrorists of 
Hezbollah and other radical Islamic 
groups utterly reject the idea held by 
many other Muslims that there 
should be ft difference in enmity 
toward Israelis and other Jews. 

•Certainly Hezbollah does not 
hide its hatred of Jews as Jews, in 
the October issue of Commentary. 
Martin Kramer quotes Sayyid Mo- 
hammed Hussein FadlaJlah, the 
“spiritual” leader of Hezbollah: 
“The struggle against the Jewish 
state, in which tbe Muslims are en- 
gaged, is a continuation of the old 
struggle of the Muslims against the 
Jewish conspiracy against Islam." 

July 18 in Buenos Aires was long- 
distance Kristallnacht Maybe the 
fact that the crime leaped across 
borders will persuade nations to do 
something about Iran, terrorism's 
master, and Syria, its safe haven. 
But 1 do not think so. 

The New -York Times. 



On Trusting Your Doctor: 
Try a 1 902 Object Lesson 


By Gene Weingarten 


LETTERS TO THE EDITOR 


Haiti’s Suffering Isn't Over 

When did the United States ever 
care about democracy in Haiti? 

Ever since the first U.S. tax dol- 
lars went to arm and train Frangois 
(Papa Doc) Duvalier's death squads, 
U.S. meddling in the internal affairs 
of Haiti has caused only misery and 
suffering for Haitians. Now it looks 
like more suffering is on the way. 
What kind of a foreign policy is it 
that guarantees torment for the peo- 
ple America pretends to help? 

Was America’s support for Duva- 
lier- style regimes necessary as a bas- 
tion against communism in the 
Western Hemisphere? I would cer- 
tainly like to thmk so. But without 
any reforms — social, agricultural, 
economic or judicial — for the people 
of tbe Caribbean or Central and 
South America, it seems that Ameri- 
ca's sole purpose was to procure re- 
sources and labor for itself while en- 
suring the enrichment of those 
willing to do America's dirty work. 

I say stop the suffering, take re- 
sponsibility for creating this prob- 
lem in the first place, and end the 


nauseating rhetoric about “democ- 
racy” and America's “duty.” 

It would have been far better to 
recognize the C6dras regime, donate 
the invasion money to the people of 
Haiti and get on with making 
friends with these people, not ene- 
mies. Haiti has suffered enough. 

STEVEN TROP. 

Amsterdam. 

The Cartoon Insults Nixon 

The Sept. 23 cartoon depicting for- 
mer President Richard Nixon in hell 
and making a deal with tbe devil to 
“take over” in the United States is 
despicable and goes far beyond the 
standards of decency. Mr. Nixon was 
absolutely correct when, during his 
“last press conference,” he said: “Just 
think how much you are going to be 
missing!” Apparently, the press does 
miss turn so much that it has to resort 
to this type of indecency. President 
Nixon was the best thing that ever 
happened to the United States. 

RALF RITTER. 

Bangkok. 


Multinational Pastime 

As an American who has lived in 
Britain for 40 years, I have only 
now begun to take a desultory in- 
terest in that admittedly quirky 
game, cricket. While I have enjoyed 
the articles of Mary Blume over the 
years, I must lake exception to her 
recent back-page feature “An 
American View of Cricket, the 
English Malaise” [Aug- 37). 

It is based on her interview of an 
American “Marxist” author who 
has just published a history of 
cricket. His views are insufferably 
patronizing and misleading. The 
implication is that cricket is a 
somewhat racist, peculiarly English 
sport. In fact, it is the national, or 
second national sport of more than 
1 billion people, the great majority 
of them nonwhite. 

Arguably, the best current team 
is the West Indies, many of whose 
players are mainstays of English 
county cricket teams. 

J.C. HARLE. 

Oxford, England. 


W ASHINGTON —The doctor's 
voice was grave. My father, he 
informed me. has a fatal heart con- 
dition. Before it kills him it will 
enfeeble him. impoverish his facul- 
ties. render him an invalid In need of 
round-the-clock nursing care. 

That was two years ago. Since then 
my father has celebrated his 80th 
birthday- He won flrsL prize in a 
national math-puzzle competition. 
He does my taxes. He beats me at 
poker. I go to his place to watch 
football games because he leis me 
smoke dgaxs and swear. There is noth- 
ing wrong with bis heart. Never was. 

Hubris is by no means confined to 
medicine. Still. I think ii is practiced 

MEANWHILE 

peerlessly in the consulting room, 
often in conferences between per- 
sons wearing stethoscopes and oth- 
ers wearing paper gowns that ex- 
pose their behinds. 

Until last week, I blamed the 
arrogance of medicine not on doc- 
tors. but on modernity, the technol- 
ogies Lhat have elevated the physi- 
cian to the role of divine mechanic: 
Mr. Godwreoch. In my thinkin g, 
doctors of earlier, simpler times 
were probably just fellas, avuncular 
dispensers of common-sense thera- 
peutics, aware of the limitations of 
their science and of themselves. 

Anyway, that is what 1 thought 
until last week, when I happened 
upon a book published in 1902. 
“The Cottage Physician.'' written by 
a consortium of “the best physicians 
and surgeons of modern practice,” 
was a popular home medical text. 
The book is charming in its delicacy. 
It begins, for example, with a dia- 
gram of “The External Location of 
the Organs,” from which one might 
reasonably conclude that the human 
body possesses no genitalia. 

The most striking thing about this 
book, however, is the authority with 
which it presumes to speak on medi- 
cal matters large and small. Cau- 
tioning against quackery, it prom- 
ises “The Very Best and Most 
proved Remedies and Methods 
Treatment Known to Advanced 
Practitioners.” To wit: 

Tbe diabetes sufferer is informed 
that his condition is of his own mak- 
ing, caused by excessive sexual inter- 
course. by generally intemperate liv- 
ing and by “copious evacuation of 
the bowels.” For treatment, the licen- 
tious wretch is advised to wear flan- 
nel clothing to eat no vegetables, to 
vomit frequently and to lake supposi- 
tories carved from bars of soap. 


ApP* 
Of Tr 


A man’s hair loss may be arrested 
through the application of a pomade 
of lard and rum. 

Difficulty in urinating requires a 
marshmallow enema. 

And of course there is cancer. 
Cancer is a serious matter, not to be 
trifled with. Fortunately it is limited 
mostly to individuals of “scrofulous 
constitutions.’' Many tumors may 
be eliminated by the' application of 
“a poultice of figs boiled in milk." 

Women are mysterious creatures, 
intellectually equal to “the siemer 
sex” but so "constitutionally inferior 
that they must be coddled through' 
out life. Fortunately, aside from 
pregnancy — a time when the prac- 
titioner must deal with a woman's 
inexplicable, insatiable appetites for 
nonfoodstuffs such as clay, chalk 
and charcoal — women's medical 
problems are easy lo diagnose: 

“When a woman feels that she is 
growing more discontented with life, 
that it is a burden, and she is very' 
nervous and Irritable, she should con- 
sult her physician, and nine times out 
of ten the whole trouble will be with 
the womb.” Often, her womb will 
have “fallen," an unfortunate condi- 
tion that appears to have reached 
epidemic proportions in mm-of-the- 
century America. It can be nicely 
rectified through a douche made 
from peach leaves and beer hops. 

Flipping through this hook, one 
discovers that almost every ailment 
— rheumatism, cataracts’ eczema, 
convulsions, sciatica — responds to 
sustained doses of laxatives. 

Proper nutrition is essential to 
good health; one must not only con- 
sume the egg, but also the shell. Sea- 
sickness may reliably be prevented by 
breathing in when the ship dips, and 
out when it rises. 

Soon 1 am to undergo some minor 
outpatient surgery. At the hospital I 
shall don a paper gown that exposes 
my behind ana entrust myself to an 
excellent doctor of my acquaintance. 
He is one of the very best physicians 
and surgeons of modern practice. He 
will gjve me a marshmallow enema. 

Just kidding! That would be ridic- 
ulous. We have come a long way 
since then. No, my doctor will stab 
me in the side with a humongous 
needle and yank out a little plug of 
flesh, just to see what it is made of. 

Hey, I am not at all concerned. 
Why should I be? I am assured this 
is One of the Most Approved Reme- 
dies and Methods of Treatment 
Known to Advanced Practitioners. 1 
am certain lhat 92 years from now it 
will not seem at all foolish. 

The Washington Post. 


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Page 6 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 28, 1994 



AMERICAN 


TOPICS 


Perils of Modem life Department: 
Smell of Baking Break Is a Hazard 


Bruce Weaver/ Agence Fnuxc-Prtuc 

THE WRONG STUFF — Daniel Bursch. an Endeavor space shuttle astronaut, 
wearing a disguise Tuesday to try to ward- off a third straight scuttling of his missio n. 
His colleague Peter Wisoff did not follow suit They and four other astronauts are due 
to Eft off on Friday from Cape Canaveral, Florida, to monitor the Earth wang radar. 


Sad to say, it seems that the delectable 
aroma of baking bread may help create smog. 
Big bakeries around the United States may 
soon be called upon to limit their fragrant 
emissions as states work to meet federal 
clean-air requirements, The Associated Press 
reports. 

That means fewer warm, comforting bread 
smells that hark back to Grandmother’s 
kitchen. 

When bread reaches 174 degrees Fahren- 
heit (78 centigrade) — when it's baked to 
perfection — it emits ethanol as a gas. Thirty- 
three of the SO U.S. states either have or are 
drafting ethanol emissions regulations for 
large bakery ovens. 

Ethanol is a volatile organic compound 
that contributes to ozone buildup close to the 
ground. The 1990 Clean Air Act gives states 
untO November to submit plans for reducing 
ground-level ozone. 

High in the atmosphere, the thinnin g ozone 
layer allows dangerous ultraviolet radiation 
to seep through to Earth. Close to the ground, 
too much ozone means smog. 

U.S. Environmental Protection Agency of- 
ficials emphasize that ethanol regulations do 
not apply to small neighborhood bakeries, 
only to large bakeries with the potential to 
release more than 50 tons of ethanol annually. 


About People 

Barry Goldwater just hates the word “bate.” 
“It’s the worst word in our language," the 
retired Arizona Republican senator told an 
appreciative audience at the Working Toward 
Hate-Free Communities conference in Pres- 
cott, Arizona, last week. “Drop the word 
‘hate’ from your vocabulary,” he said. “If you 
don't want to use it, say, T don't love him as 
much I should.’ ” 


Short Takes 

There is no Emit, in blood or money, to the 
value of the jewel-encrusted Maltese Falcon, 
the villainous Sydney Greens treet hisses at 
the private eye Humphrey Bogart in the 1941 
film of the same title. Wrong, says Christie's. 
The auction house estimates that someone 
will pay 530,000 to $50,000 for the nearly 50- 
pound (23-kilogram) lead bird, one of two 
made for the movie. The prop goes on the 
block Dec. 6. The foot-high (30-centimeter) 
falcon comes from a private estate. The slash- 
es on its head and wing were inflicted during 
the scene in which Greenstreet discovers that 
it's a fake. The only other full- weight, authen- 
tic Maltese Falcon is owned by a doctor in 
Beverly Hills, California, Christie's said. 


One of the problems of Gfe on wheels is the 
water heater, Kirk Johnson writes in a New 
York Times article. “Confessions of a Motor 
Home Dropout.” “It holds exactly six gal- 
lons,” Mr. Johnson warns. “The best way to 
find out what that means is to take a shower. 
You will probably find — quickly — that you 
have never actually taken a six-gallon shower, 
and you will come out smarter and colder 
than when you entered.” 


International Herald Tribune. 


Thai now flies smooth as silk to Istanbul. Twice a week. 


Istanbul. A city where Ottoman Palaces and tall, slim-towered mosques dominate the skyline. From October 31,1994 Thai flies to this fabled 
city via Athens every Monday and Thursday from Bangkok, returning every Tuesday and Friday. Now you'll be able to enjoy the outstand- - 
ing in-cabin service, gourmet meals and complimentary wines that have made Thai's Royal Orchid Service the envy ^ 

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Report on 

By Tutsi Sets Off j 
Bitter Feudal UN i ; , 


By Raymond Bonner 

New York Times Service 

GENEVA — Allegations by 
the United Nations High Com- 
missioner for Refugees that the 
new, Tutsi-dominated Rwan- 
dan government has killed 
thousands of Hutu id recent 
months have set off a bitter row 
wi thin the United Nations, with 
charges that the agency bad no 
authority to conduct a human 
rights investigation and that the 
findings are without founda- 
tion. 

In an effort to quell the con- 
troversy and to protect against 
the possibility that the Rwan- 
dan government, which has re- 
acted an gri ly to the report 
might expel all UN forces from 
the country, the UN secretary- 
general, Burros Butros Ghah, 
ha<; ordered an investigation 
into the allegations. He has also 
issued “strict instructions" to 
all UN officials not to talk 
about the agency’s find i n gs, 
which are based on a five-week 
investigation. 

“I'm disappointed that other 
UN organizations won't accept 
these reports and say this is 
something that needs to be ex- 
amined, instead of trying to un- 
dermine their credibility," the 
American representative in Ge- 
neva, Daniel Spiegel. said in an 
interview late Tuesday. “There 
doesn’t need to be this type of 
acrimony between UN agen- 
cies." 

The agency’s report, which 
has not been made public or 
even given to other UN agen- 
cies, has dealt a severe blow to 
efforts to get the Rwandan refu- 
gees to return home. This has 
has been a priority of the inter- 
national community, worried 
about the destabilizing effect of 
more than a million refugees in 
Zaire, and more than a quarter 
of a million in Tanzania. 

In a sharp reversal of policy, 
the agency is no longer encour- 
aging refugees to return home. 
It will no longer even provide 
assistance for those who wish to 
return, agency officials said. 

Repatriation efforts are fur- 
ther hampered because the 
United Nations has been slow 
in getting human rights moni- 
tors to Rwanda. One of the 
monitors' primary missions is 
to deter, by their presence, the 
kind of abuses that the refugee 
agency found. 

The United Nations has said 
147 monitors are needed in 


Rwanda. Only 20 are currently 
in the countiy, and they hwrenfi 
vehicles of their own and; np 
communications equipmeftC B Of 
the $10 million the Unite&Ntg- 
tions has requested for the hu- 






liviw — ■ 

man rights program in Rwanda, 
only $2 million has been 


“Until human rights .'moni- 
tors are in the provinces, there 
won't be any massive repatria- 
tion," Mr. Spiegel said, express- 
ing a widely held view. . r 
He said that most of the de- 
lays were attributable tq inex- 
perience and the United Na- 
tions bureaucracy. As fie; and 
UN officials, have pointed out, 
this is the first time the United 
Nations has ever mounted a hur 
man rights program like this. 

Privately, UN officials sat 
they doubt there will ever be 
147 monitors in Rwanda. 

A former Peace Corps voluh- 
teer in Rwanda has put together 9 
a list of more than 40 


former volunteers 1 ready" to* 
3h< 


as monitors. Their applications 
are being considered by tfip 
United Nations Commissioner 
on Human Rights, and U.S. of- 
ficials are frustrated that the 
process is taking so long. • 

Though officiate at the hu- 
man rights agency said the tiA 
of potential monitors was neft 
Wong given to the Rwandan 
government for its approval 
the government has vetoed aj 
least two monitors, according 
to UN officials. 4 

Publicly, UN officials are def 
ing their best to keep the feud 
over the right agency report out 
of the public eye. “We are onp 
house," the spokeswoman for 
the United Nations Commis- 
sioner for Human Rights, They 
rese Gas taut, said at a prcSf 
briefing Tuesday. But in the 
corridors and when speaking ofi 
background, UN officiate arp 
bitter in their recriminations 
about the refugee agency. \ 
Much of the criticism stems 
from concerns that in issuing $ 
h uman rights report the refu- 
gee agency was infringing od 
the mandate of other UN orgar 
mzation&. “There are turf ques* ' 
tions, which are unfortunate * 
Mr. Spiegel said. « 

But he and refugee agency 
officiate said the agency did not 
set out to do a human rightf 
investigation. The investigation 
was indeed to focus on th$ 
mechanisms for repatriation. .. 

“ ■ i > jar.-'.-d ;-.M 13 -^ ■ ;l 


dfiONS UNII 


v .^r km; i 

^ CM | ill. A* 




on 

:l ’ c 


China Drops Threat 
To Boycott Games 


Expni r,sroF 


By Kevin 
and Steven Bi 

International Herald Tribune 

In an awkward compromise 
but one that allows China and 
Japan to retain long-held poli- 
cies on Taiwan, Beijing on 
Tuesday canceled a visit by a 
senior leader to next week’s 
Asian Games in Hiroshima. 

China harshly criticized Ja- 
pan for allowing the attendance 
of a leading Taiwan politician, 
but it did not carry cot its threat 
to boycott the Games, held ev- 
ery four years to promote Asian 
“understanding and friend- 
ship." 

The decision prevents serious 
damage to the uneasy relation- 
ship between China and Japan, 
one that is driven increasingly 
by economic interdependence. 

Beijing’s Foreign Ministry, 
citing “political trouble created 
by the Taiwan authorities and 
the Japanese government,” said 
China had “no choice" but to 
cancel State Councillor Li 
Tieying’s plans to travel to Hi- 
roshima for the Games. 

“The Chinese government 
hereby expresses its deep regret 
at that and lodges its protest 
with the Japanese government," 
a ministry spokesman told the 
Xinhua press agency in Beijing. 

For their part, Japanese offi- 
ciate welcomed news that Chi- 
na’s- athletes would compete as 
planned, despite Togo’s deter- 
mination to allow Taiwan’s vice 
prime' minister, Hsu Li-tefa. and 
a mission representing Taipei's 
bid to hold the 2002 Asian 
Games to visit Hiroshima. 

“This is significant for hold- 
ing the event in a cordial atmo- 


sphere,” a Japanese govern^ 
ment spokesman, Kozo 
Igarashi contended in Tokyo) 
The Gaines are expected to 
draw participants from 42 naj 
tions. , 

But after continued strong 


' ■:. * 

Uilltf 

H 

Chw 

owe 

p«i*i 


attacks from Beijing that in? 
se exchj 


CHI 


eluded a tense 

tween Japanese and 

foreign ministers at the United 
Nations on Monday, some Jap) 
&nese politicians expressed irri- 
tation with Beijing's tactics. 

“We can’t accept this com-, 
plaint from mainland China,’ 5 : 
said Yuriko Koike; a member of! 
Japan’s House of Representa- 
tives and vice chairman of the! 
Japan New Party. 

The “two C hinas " problem) 
she added, “is a problem bei 
tween China and Taiwan." r- 
The dispute arose when Chlf 
na learned that Taiwan’s p resin 
dent, Lee Teng-hui, had beajJ 
invited to attend the Games by 
the Olympic Council of Asia. '! 

Beijing, which views Taiwan' 
as a renegade province, de- 
nounced the invitation — ■ soon 
withdrawn — as a serious^ 
breach of protocol and a ma-'jj 
neuver by an increasingly res-ii 
tive Taiwan to enhance its sia-* 
tus at China’s expense. { 

Japan and most major coun-J 
tries recognize the Beijing re-3 
giine rather than its bitter rivals 
in Taipei, but many have quiet ^*1 
ly stepped up unofficial rda-" 
tions with economically power- 
ful Taiwan. ~i 

At the same time, in a re- 


^IWbSu^,,, 

-, y l 


*: t. . 


i r 


Dissident’s Wife 
Appeals to China 


sponse to powerful Taiwanese j 
yearnings for a hi gh er political c 
profile man China will allow it i 
m the international arena, Tai- • 
wan’s ruling Nationalist Party 
has sought to use the country’s ! 
economic clout to further its! 
diplomatic aims. ■ 

In the past year. President l 
Lee and .other senior officiate 
have embarked on unofficial 


V 


3U Could R 

Equity 




J 

Money 


■«*? 


New York Times Service 


BELJTNG * — Hie family of 
of bav- 


but high-profile trips through- ' 
out Asia and have been wel-~ 


■* \\ 


: »• . JV 


Chen Z iming flrr Tj cyfl __ 

ing played a leading role in the 
1989 demonstrations for de- 


mocracy, appealed publicly 
to Chinese s 


Tuesday to Chinese security of- 
ficiate to “provide a humanitar- 
ian environment for medical 
treatment and convalescence” 
for the 43-year-old dissident. 

Mr. Chen underwent surgery 
this month for testicular cancer 
after he was released in May on 
medical parole from a 13-year 
prison sentence at the request 
of President Bill Clinton and 54 
U.S. senators. 


corned by Indonesian, Philip- { 
pine, Singaporean, Malaysian] 
and Thai leaders despite Bet-i 
jing*s vocal displeasure.- ( 
Taiwan has also renewed Its f 
efforts to regain representation 
mthe United Nations, lost in 
1971 when it and most pther 
international bodies began rec- . 
tignjopg the Peoples Republic! 
of Coma over the Republic of 
China, whose leaders fled to 
Taiwan u 1949. 


>i-y «> 

I 


Real 


See our 


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ewwy Friday :■ J - 








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NATIONS UNIES 



UNITED NATIONS 


»ps Till'd 

tt (panit? 


REQUEST FOR EXPRESSIONS OF INTEREST BY GENERAL CONTRACTORS - RENOVATION 
OF THE ASSEMBLY HALL OF THE PALAIS DES NATIONS, GENEVA 
In the course of 1 995, the United Nations intends to carry out renovation work in the Assembly Hall 
of the Palais des Nations, Geneva, of a value of several million US Dollars. 

Qualified firms are hereby requested to express their interest in participating in this work as general 
contractor. 

Under the supervision of an overall project manager, the renovation work to be carried out by the 
general contractor will encompass: 

- renovation of the ground-floor area and the galleries; 

- replacement of the air-conditioning system: 

- replacement of the interpretation facilities and installation of an electronic voting 
system; 

- renovation of the original furniture (ground-floor area and galleries) and provision of 
additional furniture of similar type; and, 

- replacement of the lighting, particularly for the galleries and the podium. 

The renovation will cover a surface area of 2,177 m2 (not including the technical offices). 

The estimated timetable is as follows: 

- preliminary study: from 01 March 1 995 to 15 September 1 995 

preparation of work site: from 1 0 July 1 995 to 25 july 1 995 

- execution of works: from 1 0 July 1 995 to 08 April 1 996 

Interested firms should submit a written expression of interest and with following reference: 

“EXPRESSION OF INTEREST - RENOVATION OF THE ASSEMBLY HALL - 

GENERAL CONTRACTOR” 

which should reach following address by 12 October 1994: 

United Nations Office at Geneva (UNOG) 

Mr. K. Herre! 

Chief, Purchase and Transportation Section 
Office 35 

Palais des Nations 
CH-1 211 Geneva 10 

Applications must be accompanied by the following documents: 

- a brief description of your firm together with an indication of completed or on-going 
projects similar to the present one; 

- annual reports for 1992 and 1993; 

- Turnover and number of employees in the sectors concerned for the years 1988-1993. 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY. SEPTEMBER 28, 1994 


A Covert U.S. Plan to Unde rmine Junta 


By Elaine Sciolino 

A'fw York Tima Semce 

WASHINGTON — President BUI Clin- 
ton has approved a secret plan that would 
allow the government to spend $5 million 
on propaganda activities or attempts to 
neutralize the opponents of President 
Jean- Bertrand Aristide, administration of- 
ficials said Tuesday. 

Under the covert operation, the Central 
Intelligence Agency is authorized to spend 
about SI mOlion for activities to influence 
the country’s political process, which 
could include pro-democracy radio broad- 
casts and a disinformation campaign to 
discredit Haiti's military leaders. 

The CIA has broad authority to spend 
the other 54 million to conduct secret "po- 
litical action" activities that could help 
neutralize the opponents of Father Aris- 
tide and bolster his supporters. 

Administration officials briefed key 
lawmakers last week about the vaguely 
worded secret legal order, known as a 
“finding," as required by law. But it re- 
mains unclear whether the administration 
has begun such a program or only wants to 
have it ready to counter Haiti's military 
leaders in the event they uy to renege on 
their agreement to step down. 


The officials offered few specifics about 
the scope and goals of the finding, explain* 
ing that the order was still being formulat- 
ed. 

Lawmakers were told that much of the 
money would go toward “creating a politi- 
cal chmate” that would help implement 
the agreement that former President Jim- 
my Carter brokered with Lieutenant Gen- 
eral Raoul Gbdras on Sept. 18. 

Under that agreement. General Cedras 
and other military leaders must relinquish 
power, either when the country's Parlia- 
ment votes a general amnesty into law or 
by Oct. 15, whichever comes earlier. The 
Clinton administration is eager for the 
Parliament to approve an amnesty so that 
it does not have to forcibly remove the 
Haitian leaders if they refuse to leave. 

The legal order was so closely held in- 
side the administration that it was even 
kept from J. Brian Atwood, the adminis- 
trator for the Agency for International 
Development, who was active in democra- 
cy-building projects and election monitor- 
ing in his years with the National Demo- 
cratic Institute. 


“We've got a number of plans in place to 
work with nongovernmental organizations 


HAITI: As U.S. Duties Grow, a Fear of ‘Mission Creep J 


Continued from Page 1 
for use by exiled members of 
Parliament returning to the 
country. 

The Haitian Parliament was 
scheduled to convene Wednes- 
day to begin discussing an am- 
nesty law, pan of the last-min- 
ute deal worked out by the 
junta and a delegation headed 
by former President Jimmy 
Carter to avoid an invasion. 

U.S. military police stretched 
barbed wire about SO feet (IS 
meters) outside the Parliament 
building, while soldiers pa- 
trolled the roof and stood guard 
inside the main gate. 

U.S. sources say Port-au- 
Prince's mayor, Evans Paul is 
expected to emerge from hiding 
Thursday and return to his of- 
fice at City HalL 

Mr. Paul, who was the cam- 


paign manager for the deposed 


president, the Reverend Jean- 
Bertrand Aristide, has been in 


Bertrand Aristide, has been in 
hiding for much of the three 
years since Father Aristide was 
overthrown by the junta. 

On Tuesday, 142 refugees ar- 
rived from Guantanamo Bay 
Naval Base, the second group 
of Haitians to voluntarily re- 
turn since the American inter- 
vention on Sept. 19. A group of 
221 Haitians returned Monday. 

In another development, 
thousands of Haitians looted a 
food warehouse, righting with 
each other for bags of rice and 
beans. Witnesses said more 
than 2,000 looters carried off 
foodstuffs from a charity ware- 
house in a slum of the Haitian 
capital called Jean Bosco. 

An elderly woman was sen-, 
ously injured when the crowd of 


people running from the build' 
mg trampled her. 

At a military airfield near 
downtown Port-au-Prince, a 
buy-back program offering 
Haitians cash for weapons was 
begun. 

The U.S. forces are offering 


U.S. Wants 
UN Action 
On Haiti 


to pay the equivalent of S50 to 
S300 for weapons ranging from 
handguns io rocket launchers in 
a bid to defuse potential vio- 
lence in the dangerously polar- 
ized country. 

Sources close to paramilitary 
groups said “attaches," armed 
thugs attached to the Haitian 
military, would not give up 
their weapons because they 
would be unprotected from a 
population thirsting for revenge 
as the military regime crumbles. 

(AP. Reuters) 


Reuters 

UNITED NATIONS, 
New York — Secretary of 
State Warren M. Christo- 
pher will address the Secu- 
rity Council on Thursday, 


when U.S. officials hope 
for a resolution that will 


CUTS: For American Workers, Recession Residue 


Continued from Page 1 
professional employees are tak- 
ing the brunt of downsizing, ac- 
cording to the survey. Although 
salaried workers in general rep- 
resent 40 percent of all workers, 
they accounted for 62 percent 
of the reported job reductions. 

While downsizing is continu- 
ing, there is some dispute 
whether it leads to corporate 
health or merely corporate an- 
orexia. 

A study earlier this year by 
Wyatt Co. found that downsiz- 
ings that were pursued simply 


to save money in the short term 
often failed to restore the com- 
panies to profitability because 
they did not deal with funda- 
mental weaknesses in opera- 
tions and led to serious deterio- 
ration of employee morale. 

But John Parkington. an au- 
thor of the Wyatt study, said 
companies were trying it again, 
realizing this time that downsiz- 
ing can succeed only when it is 
part of an ongoing effort by the 
company to reinvent itself. 

Mitchell Marks of the Delta 
consulting group agrees. 


“I think companies are get- 
ting smarter about downsiz- 
ing," he said. "They know they 
have to approach it with a scal- 
pel, not an ax. And they are 
coming to understand that they 
have to spend a lot more time 
explaining to their people how 
it fits into a strategy of nearly 
continuous change. The hardest 
part for everyone — the manag- 
ers and the employees — is 
learning how to live with this 
permanent level of uncertain- 
ty” 


for a resolution that will 
soon lift all economic sanc- 
tions on Haiti. 

A U.S. official said Tues- 
day that the chief U-S. dele- 
gate to the UN, Madeleine 
K. Albright, had already 
begun consultation on a 
simple resolution lifting all 
sanctions imposed by the 
council “on the day or the 
day after" the return of the 
exiled president, the Rever- 
end Jean-Bertrand Aris- 
tide. 

No date has been given 
for the return of Father 
Aristide, but under an 
agreement negotiated by 
former President Jimmy 
Carter, Haiti’s military 
leaders are to give up power 
no later than Ocl 15, there- 
by paving the way for his 
return. 

President BiU Clinton 
announced Monday that 
the United Slates would lift 
its unilateral sanctions 
against Haiti. 


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in Haiti on democracy activities,” said Mr. 
Atwood when told of the plan. 

“We have an office that is going to be 
placing people in municipalities to help 
teach them about municipal government 
and helping with the election process. If 
this report is true, we will have an exceed- 
ingly difficult time getting any nongovern- 
mental organizations to work with us. Any 
effort to do democratic programs in a 
coven manner would be crazy.” 

The secrecy of the program has already 
alarmed a number of lawmakers, who fear 
that the money could be used to further 
corrupt the polilical process in Haiti. 

Some senior administration officials ac- 
knowledge that one of the goals of the plan 
is to help ensure that Parliament passes a 
bill granting amnesty to General Gfedras 
and his associates by Oct. IS. 

That means that that legislators who 
must step aside could be paid off to do so. 



High Spirits 
As Yeltsin 
And Clinton 
Open Talks 




... .~ii 




k*.- 

6 - ^ ^ 


It also means that the CIA could pay 
exoenses, provide security or give omer 


expenses, provide security or give other 
incentives to lawmakers who either live in 
remote areas or would prefer to boycott 
such a vote. 

The plan renders invalid an earlier S12 
milli on secret plan to offer the country’s 
top military leaders a comfortable exile. 



Rsvccndrao Singh/ Agence F ranee- Prc*c 

A resident of Surat Lidia, leaving a hospital Tuesday with the body of Ms 4-year-old son. 


Plague Spreads to Other Regions of India 

O 1 D agreed m pr 


By Douglas Jehl 

New York Tunes Sertice ■ 

WASHINGTON - Pns^ 
dealt Bill Clinton and President 
Boris N. Yeltsin of Russia 
opened a two-day summit 
meeting here Tuesday in an at- 
mosphere almost effusive with; 
affection as they appeared to; 
have averted a public nft over 

Bosnia— at least for now,. ’• 

“The Russ an- Ameri can rela-j 
tionship is at last, remarkably, &' 
normal one, full of real accom- 
plishment and genuine prom;: 
ise,” Mr. Clinton said in a weP 
coming ceremony on the White' 
House South Lawn. He latet- 
showed off campaign memora- 
bilia and other knickknacks to 
Mr. Ydtsin in the Oval Office," 
then led him to a garden patio, 
from which the leaders barfr 
ished aides and spent two hours-' - 

mnmniilS VlCWS OH DOllticS. ** 1 “ 


■ ;.b« H 


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A V ^ 

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. . -4 m ! 

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Washington Post Service 

NEW DELHI —Cases of the 
deadly pneumonic plague 
spread across India on Tuesday 
and were detected in the major 
cities. 

Two confirmed victims were 
hospitalized in New Delhi 
along with about 17 other peo- 
ple showing plague symptoms, 
officials said. 

In addition, 13 suspected 
cases were reported in Bombay, 
S in Calcutta. 2 in Madras and 4 
in the boly city of Banaras, a 
favorite tourist destination 


about 200 kilometers (123 
miles) south of NepaL 

According to accounts by the 
government news service, most 
of the victims had recently been 
in the western industrial city of 
Surat, where the first pneumon- 
ic plague case was discovered 
about a week ago. 

Panicked by the hig hly con- 
tagious nature of the disease — 
which may be passed from hu- 
man to human through cough- 
ing and sneezing — about a 
quarter of the city’s 22 milli on 
residents fled in a mass exodus. 
Many were migrant laborers 


who returned with their families 
to their ancestral towns, spread- 
ing the disease across the coun- 
try. 

About 330 suspected cases of 
pneumonic plague have been 
detected nationwide; most of 
them were concentrated around 
Surat. 

But with the liberal distribu- 
tion of antibiotic drugs that can 
cure the disease — particularly 
tetracycline — the death toll of 
about 30 people is relatively 
moderate. Health inspection 
stations have been set up at 
many major train stations. 


Continued from Page 1 
elers would come into contact 
with plague. Experts at the 
agency said that the Indian au- 
thorities appeared to have the 
outbreak under close observa- 
tion and that only Surat was 
officially an epidemic zone. 
They also pointed out that the 
disease can be stopped with 
antibiotics. The plague has 
struck mostly poor areas where 
people have no access to medi- 
cine or doctors. 

The WHO, based in Geneva, 
advised people to see a doctor if 
they suffered any illness within 
six days of leaving the epidemic 
zone. This is the incubation pe- 
riod of plague. 

With modern air travel, some 
authorities feared that the dis- 
ease could travel around the 
worid quickly. Many countries 


OPTIMUM — Your offal n BOGOTA 
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in the region, including Singa- 
pore, South Korea, Thailand. 


YOUR ADDRESS N MOAN In doss 
busmen oddres, phone/ fax/mai. Tat 
139-2) 33003907fa: 33001664. 


pore. South Korea, Thailand, 
the Philippines and Hong 
Kong, set up medical screening 
at airports. Thailand said il 
would put anyone coming from 


the epidemic zone into quaran- 
tine for six days. 

Airport officials in Paris 
checked about 630 incoming 
passengers for plague symp- 
toms on Tuesday and took their 
names and addresses. Doctors 
gave passengers an oral and 
written explanation of the dis- 
ease and urged them to report 
any symptoms they experienced 
within their first week after ar- 
rival. 

Aircraft arriving from India 
were disinfected, as were air- 
port waiting rooms used by pas- 
sengers from the subcontinent. 
Similarly, authorities at the 
Rome airport ordered all air- 
craft arriving from India to be 
sprayed 

In Toronto, baggage handlers 
refused to handle cargo aboard 
Air-India planes. 

Germany set up quarantine 
beds at the Frankfurt airport 
and placed 30 doctors on alert. 
The German Foreign Ministry 
advised citizens against travel- 
ing to Gujarat and Maharashtra 


and coughing. 
The Gulf c 


Fearing Departure of Peacekeepers, 
Bosnia Accepts a Delay on Embargo 


You will find below a listing of employment offers published in last Thursday's International Herald Tribune 


POSITION 

CONPANY 

CONTACT 

0.S. Operations Manager 

French International 

Transport Company 

Anne Cousins 

Fax: (33-1) 42.61.23.14 

Business Development Manager 

HR Wallingford 

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German Speaking Sales Executive 

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Fax: (41) 42 21 1617 


Compiled by Our Staff From Dispatches 

UNITED NATIONS, New 
York — Bosnia’s president 
dropped his long-standing de- 
mand for the United Nations to 
lift its arms embargo against his 
government immediately and 
said Tuesday that be would ac- 
cept a six-month delay. 

President Alija Izetbegovic 
said he would agree to the delay 
on the condition that UN 
peacekeepers remained in Bos- 
nia, that the blockade of Saraje- 
vo was lifted immediately, and 
that UN safe areas for Bosnian 
civilians were expanded. 

Mr. Izetbegovic also said he 
wanted the Security Council to 
quickly pass a resolution that 
would lift the embargo against 
his Muslim-led government in 
six months if Bosnian Serbs 
continued to reject an interna- 
tional peace plan. 

“Provided that the above 
conditions be fulfilled," Mr. 
Izetbegovic said, “the govern- 
ment of Bosnia and Herzegovi- 
na would be willing to accept a 
new, modified formula for the 
problem of the arms embargo." 

Britain and France, which 
have the largest peacekeeping 
contingents in Bosnia, have said 
lifting the embargo would fuel 
the conflict and have threat- 
ened to withdraw their peace- 
keepers if the baa were lifted. 
Russia also is opposed to lifting 
the embargo. 

A withdrawal of peacekeep- 


ers could have hurt efforts this 
winter to feed and care for 
about 2.7 million Bosnians de- 
pendent on outside assistance. 

The proposal to delay lifting 
the embargo was aimed at 
patching up differences be- 
tween Washington and its Eu- 
ropean allies. 

The U.S. Congress had in- 
structed President Bill Clinton 
to push the Security Council to 
lift the embargo if the Bosnian 
Serbs failed to accept an inter- 
national peace plan by Oct. 15. 

In a speech to the General 
Assembly on Monday, Mr. 
Clinton said the Bosnian capi- 
tal Sarajevo, again faced stran- 
gulation by besieging Bosnian 
Serbian forces and urged the 
United Nations to show a new 
resolve to save the city. 

He said that the North Atlan- 
tic Treaty Organization stood 
“teady to act" as it did on 
Thursday, when NATO jets de- 
stroyed a Bosnian Serbian tank 
west of Sarajevo in a punitive 
raid that followed Serbian at- 
tacks on peacekeepers. 

Eager to avoid alienating 
Russia, and aware that the 
United States is not well-placed 
to dictate policy in a country 
where it has not committed 
troops, the Clinton administra- 
tion has been casting around 
for a graceful way to shift posi- 
tion on the embargo. 

Kemal Muftic, a top aide to 


Mr. Izetbegovic. said the Bosni- 
an decision to back away from 
an insistence that the embargo 
be lifted immediately reflected 
concern that withdrawal of UN 
troops would lead to a disaster 
in the Muslim enclave of Sre- 
brenica, where about 60,000 un- 
armed Muslims live surrounded 
by Serbs and protected by UN 
forces. 

“We can defend ourselves 
elsewhere, ’’ he said. “But the 
situation in Srebrenica would 
be disastrous.” 

Other officials said that the 


opposition of President Franjo 
Tudjman of Croatia to ending 
the embargo was also an impor- 
tant consideration. 

The Muslims and Croats are 
aligned in a tenuous federation 
in Bosnia that has stopped the 
fighting between them and al- 
lowed the Bosnian government 
to obtain fairly substantial 
amounts of arms through Cro- 
atia. 

Confronting Mr. Tudjman 
on the embargo, therefore, 
might put Bosnia's access to 
arms at risk. Mr. Tudjman also 
wants to control the flow of the 


weaponry, which he might lose 
if the embargo were formally 
lifted. 

“We want a solution that is 
acceptable to everyone, Britain 
and France included,” Mr. 
Muftic said. 

(AP. Reuters. NYT) 


JAPAN; Politician Found Not Guilty in Bribery Case 


G»ftnied from Page 1 


he will return to politics as early 
as possible.” 

Mr. Fujinami was one of 12 


Mr. Fujinami was one of 12 
people who were indicted in the 
scandaL Six of them, including 
the former chairman of the gi- 
ant telecommunications com- 
pany, Nippon Telegraph & 
Telephone, have already been 
convicted and sentenced. The 
guilty included several former 


See our 

Real Estate Markotpfac* 

every Friday 


senior bureaucrats from the La- 
bor Ministry. 

But Mr. Fujinami was the 
first politician to go on trial, 
and thus his case has been fol- 
lowed closely as a harbinger of 
how the other politicians might 
be handled. A return of some of 
these leaders could upset the 
delicate transformation taking 
place in Japanese politics and 
alter the image of the Liberal 
Democrats once again. 

The Liberal Democrats had 
governed Japan since 1955, but 
were voted out of office last 
year following a series of cor- 


ruption scandals and internal 
strife over how to deal with 
them. But after a year of tur- 
moiL the. Liberal Democrats 
rode back into power in June by 
foiging a coalition with the So- 
cialists, their one-time foes. 

Slowly, some of their dis- 
graced leaders have been strug- 
gling to make comebacks, 
something today’s court deci- 


sion makes more plausible. For 
instance, Mr. Takeshita, who 
was forced to leave the party 
though he never faced chare* 
has openly sought to regain in- 
fluence behind the scenes. 


swapping views on politics. r ' 1 
[Mr. Ointon and Mr. VeltsiiS' 
agreed in principle to call for an! 

international conference on the 
conflict in Bosnia, a senior 
Ydtsin aide told reportersf 


Reuters reported. 

[Mr. Yeltsin, who first pro- 
posed the conference several: 
months ago, brought the idea 
up ?gain Tuesday.] 

A dminis tration officials said 
that Mr. Clinton raised con- 
cerns with Mr. Yeltsin abouj 
the SI billion in militaiy goods 
that Russia sold last year to 
Iran. They said he also ex- 
pressed some discomfort about 
Mr. Yeltsin’s recent talk of a 
Russian sphere of influence in 
the former Soviet Union, par- 
ticularly his aggressive view of 
how to end fighting over the 
ethnic Armenian region of Na- 
gorno-Karabakh in Azerbaijan; 

But now that Russia ha$ 
withdrawn its last troops from 
the Baltics and Central Europe,' 
there was no need for the Amer- 
ican president to issue somber 
declarations about how impor- 
tant such a step would be. aides 
to Mr. Clinton noted with de- 
light. And for the first time; 
they said, Mr. Clinton had no 

E lans to complain about whal-£ 
e now regards as Russia's satr 
isfactory progress toward build-: 
ing a market economy. 

It appeared that Russia and 
the United Slates remain $ 
least publicly divided on whetiiF, 
er it is nearly tune to 'lift the. 
international arms embargo on 
Bosnia’s Muslims, a plan that 
Mr. Clinton and Congress have 
long endorsed. ' 

But as a compromise that 
would postpone such a step un- 
til spring took further Shape, & 
appeared that the two leaders 
might maintain — at least f<Jt 
the summit — an appearance of 
common cause on Bosnia. ■: 


. •. 

; I 

4 S’.'. 


WHO: No Need to Cancel Trips, Travelers Are Advised 


states, in western India It said 
trips to New Delhi and Bombay 
should be made only if abso- 
lutely necessary. Many people 
have fled to those cities. 

Britain, which has Europe’s 
biggest population of people of 
Indian origin, imposed no spe- 
cial restrictions. The British 
health authorities told passen- 
gers that they had no cause for 
concern unless they had come 
from the epidemic zone or had 
been dose to someone wheezing 


The Gulf countries, which 
have a large migrant population 
from the Indian subcontinent, 
set up medical controls at pons 
of entry. The six nations of the 
Gulf Cooperation Council 
Saudi Arabia, the United Arab 
Emirates, Oman, Kuwait, Bah- 
rain and Qatar — adopted com- 
mon steps to prevent the spread 
of the disease; 

There were no reports of 
plague among the hundreds of 
thousands of Indian residents 
in the Gulf. 


Pari- 


. . . '• ri * 
. . Si 


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RUSSIA: 

No to Free Hand 


.i ■ • ** . 


m:> I SKI 


Continued from Page 1 
affairs. That idea, to be debated 
next month ahead of a confer- 
ence summit meeting, Mil be 




vetoed by the United States and 
other Western eovemmentsc 


other Western governments^ 
U.S. diplomats said. 

Moscow’s growing frustra- 
tion, U.S. officials said, has 
started venting itself as part of £ 
mounting Russian antagonism 
toward NATO, particularly of 
any eastward expansion of the 
alliance. 

That question appeared tem- 
porarily solved last year when 
the alliance launched a plan, 
known as the Partnership for 
Peace, for cooperation with 
countries of the former Soviet 
bloc. 

Although Russia finally 
joined the partnership this sum- 
mer, it was denied the special 
role it had sought. Since then, 
the defense minister, General 
Pavel S. Grachev, has launched 
a series of sharply worded atr 
tacks on NATO, describin g it as 
a potential military threat to 
Russia. • 4 

Meanwhile, the more bully- 
ing tone in Moscow has shar- 
pened the eagerness of Central 
European countries for Mr. 
Clinton to spell out his earlier 


promises that they will be al-_ 
lowed to join the alliance, tha t it • 
is only a matter of time. 

As "a result, U.S. officials ! 
said, the- administration ap- 1 
pears likely to urge NATO next ! 
month to set conditions, possi- 
bly including a timetable, for; 


membership for Hungary, Po- 
land and the Czech Republic. 

Trying to smooth over the 
tensions with Moscow, Robert 
Hunter, the U.S. ambassador to 
NATO, predicted that time 
would gradually ease Russian 
fears about alliance. Other offi- 
cials said that leaders in Mos- 
cow could come to see the orga- 
nization as a bulwark to their! 
west, allowing them to concen- 
trate on their troubled borders 
elsewhere. 

Bi a Yeltsin aide rejected 
Mr. Hunter’s suggestion, warn- 
mjg that there could be “no 
friendly understanding?", with! 
Russia if NATO expanded its* 
membership eastward. Going' 
farther, the aide said th at Mo&- - 
cow would “militarize'’ the for- 
mer republics surrounding it if 
NATO expanded. . ^ 








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STAGE /ENTERTAINMENT 


International Herald Tribune 
Wednesday, September 28, 1994 
Page 9 





At Fukuoka Festival, Sri Lanka Is the Star 


By Donald Richie 


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F UKUOKA, Japan — Kyushu’s 
laxgest city squarely faces Asia. It 
was here that prewar Chinese 
tourists landed to enjoy the 
hotspriags of Beppu, where Thai buddhists 
visited the famous Dazaifu temple com- 
plex, and where Indonesians eany» for 
. tfade with Batavia. 

Fukuoka has long made much of this 
Asian connection and its annual film festi- 
val, now in its fourth year, shows only 
Asian pictures. Two years ago it was an 
important panorama of new Vietnamese 
films, the first to be let out of that country. 
Last year it was a beautiful handful of 
Mongolian pictures. 

And this year it featured a seven-film 
program from one of the most interesting 
of Asian Him cultures, Sri Lanira Inc luded 
were a number of recent films anrf three 
from the finest Sinhalese director, James 
Lester Penes. These included his first, the 
memorable 1956 picture, “Line of Desti- 
ny.” . 

. This film was for Sri I -anlrn what Satya- 
jit Ray’s “Father PanchaK” was for Indian 
. cinema. An unknown mak er of documen- 
* lanes. Penes took his camera to the vil- 
lages of Ceylon and worked with the peo- 
ple he found there. 

- The result was a picture so honest and so 
devastating that a Ceylonese government 
minister decided it could not be shown 
outside the country since it showed an 
unhappy people. And it was Paul Bowles, 
then bring in the country, who, haring 



A scene from Adoor Gopalakrishanan’s “ The Servile: 


seen the picture, convinced the minister it 
was better to show the film than to create a 
scandal. 

With this picture Peries’s reputation was 
made and he has gone on to make more 
than 21 films. His latest was also shown at 
the Fukuoka Festival. Named “Where the 
Sun Sets,” it is a mellow, Cbekhovian 
study of the dissolution of a landed Sinha- 


lese family. The honesty is still there. 

The festival also gave the rest of Asia its 
first look at Laotian cinema with special 
screenings of Somok Southiphone’s 1988 
“Red Lotus,” a lyrical film about the “Na- 
tional Liberation Front” and bow young 
lives were affected by it. 

There was also a 1989 film from Burma, 
“Downstream” about an unappreciated 


father and his ungrateful children. One 
might expect something this paternalistic 
from Burma but the style came as a sur- 
prise. Someone there has been watching 
American si tcoms. 

More original was the new Vietnamese 
film, Dang Nyhat Minh’s excellent 1994 
“The Return,” a richly elliptical picture 
about a wife who leaves her newly capital- 
istic husband. He cares only for making 
money and has even changed his name to 
Vincent so as to appear Western. This 
potentially melodramatic story is told with 
balanced delicacy by the director erf “The 
Girl on the River.” another extraordinary 
film. 

Outstanding among all Asian films 
shown was the latest by Adoor Gopolakri- 
shanan, “The Servile.” a 1993 film about 
one man’s succumbing to tyranny. Using 
the simplest of means, the director has 
created a parable about power with, all of 
the ugliness honestly shown. 

As usual, the 20 films were chosen by the 
festival’s director-general, the Japanese 
critic Tadao Sato. He travels all over Asia, 
tries to look at everything, and then brings 
back the best to screen to die Fukuoka 
showcase. 

City and prefecture foot the bill, direc- 
tors, producers, stars of the films shown 
are invited, citizens flock to the pictures, 
and the tradition of Fukuoka squarely fac- 
ing Asia flourishes. 


Donald Richie is well known for his writ- 
ings on Japanese film, which include “ Ozu ” 
and “The Films of Akira Kurosawa." 



Clare Higgins and Harriet Walter in “ The Children's Hour. ” 


In Paris, a First — Maybe Last — Concert 


By Sheridan Morley 

International Herald Tribtme 


By David Stevens 

International Herald Tribune 



ARIS — Myung-Whun Chung 
and the Paris Opera orchestra 
came out of the pit and onto the 
stage of the Op&ra Bastille for 
their first concert of the season, and pre- 
sumably the last one Chung will conduct 
with the orchestra before his contract is 
terminated in mid-October. 

In the event, it was both a substantial 
musical event and an emotionally 
charged one. Musically it was distin- 
guished by the posthumous world pre- 
miere of Olivier Messiaen's “Concert k 
quatre,” a work commissioned by the 
orchestra and dedicated to Chung and the 
^ four soloists — the flutist Catherine Can- 
tin, a member of the orchestra; the oboist 
Heinz Holliger; the cellist Mstislav Ro- 
stropovich, and the pianist Yvonne Lor- 


iod, the composer’s widow, who complet- 
ed the part of the orchestration left 
unfinished at Messiaen’s death in 1992. 

In the “Concert k quatre,” Messiaen’s 
characteristic bird calls are present in force 
— some 25 species are listed — but as 
Loriod says in the program, it is a “bril- 
liant, tender and gay” work that makes 
amp le use of the virtuosity of its soloists. 

The ovations for Chung began before a 
note had been played Monday. The or- 
chestra played as if possessed, and at 
times joined in the applause for its direc- 
tor of five years. Two movements of the 
Messiaen work were given as encores, as 
was one movement of the Saint-Saens 
Symphony No. 3, the final work on the 
program — virtually unheard of events at 
an orchestral concert. 

One leather-lunged member of the au- 
dience bellowed. “Shame, to let such a 
conductor leave,” and he was not the only 


one, although definitely the loudesL The 
demonstration might have gone on indef- 
initely had not the conductor cut it short 
by taking the concertinas ter by hand and 
leading the orchestra off the stage. 

As before the premiere of “Simon Boc- 
canegra” last week, a mimeographed tract 
was handed out to concertgoers, this time 
from orchestra members represented by 
the Force Ouvriere union. Passionate but 
unaggressive, it expressed the hope that 
the current season could be carried out 
with Chung as originally planned, and 
urged that there be a “time of reflection" 
that might lead to “a solution that would 
preserve the dignity of all concerned and 
the future of our institution.” 

On Tuesday. Deutsche Grammopbon, 
the company for whom Chung has made a 
number of recordings with the Opera’s 
orchestra — most recently Verdi's 
“O tel Jo” with Plicido Domingo in the 
title role — held a press conference that. 


SHORT CUTS 


VAN. MORRISON, “A 
Night In San Francisco" (2 
CDs. Polydor): This has been 
on the market for a few months 
but it appears to have leaked 
through unremarked. Songs by 
Sonny Boy Williamson, T-Bone 
Walker, Doc Porous and Van 
Morrison performed in concert 
with Gcoirgic Fame (singing 
Lester Young’s “Jumpin’ With 


Symphony Sid”), Candy 
Dulfer, John Lee Hooker, Jim- 
my Witherspoon and a very 
good band on not just any night 
at the Masonic Auditorium. As 
the packaging proclaims, “bal- 
lads, blues, soiil, funk and jazz.” 

KENNY BARRON, “Wan- 
ton Spirit” (Verve/ Gitanes 
Jazz): In trio with Charlie Ha- 
den and Roy Haynes, Barron 


shows why he is the piano plav- 
:day.“" 


BEST SELLERS 


The New York Ttaies 

- TTas Hst is based on reports from more duo 
1,00! boofcsliUc. throughout the United States. 
Weeks on hn are dm n ec ess aril y consecutive. 


FICTION 


Tto 

Wack 


Las Wafa 
Wk oeUfl 


30 

9 


A DEBT OF HONOR, by Tom 

. Clancy — l A 

Z THE BODY FARM, by Pwri- 
■ ciaCarnwcn 7 2 

3 THE CELESTXNE PROPH& 

• CY. b y Jam es RedfieM 

4 THE GIFT, by Danielle Sied 

-5 nothing lasts forev- 
er. by Sdney Sheldon 1 

6 POLITICALLY CORRECT 
' BEDTIME STORIES, by 

' James Finn Garner 4 14 

7 A SON OF THE CIRCUS, by 

" John Irvins 8 4 

9 THE BRIDGES OF MADI- 
SON COUNTY, by Robert 

' James Waller 6 111 

V THE CHAMBER, by John 
Grisham 3 to 

10 DISNEY'S THE LION 
KING, adapted by Don Fer- 


.... 

0 UNTIL 


- 10 8 


McNanghr 
TANT 


YOU, by Judith 


12 MUTANT MESSAGE 
. DOWN UNDER, by Mario 

13 T^^AUENfsf r byC aiei) 

Carr — — 

M HALF ASLEEP IN FROG 
PAJAMAS, by To m Robb ias 
15 BROTHERS AND SISTERS, 
by Bebc Moore Campbell — 

NONFICTION 

JCOUPLEHOOD, by P#nl 


II 3 
14 24 
16 2 


Reiser 


2 3 


2 EMBRACED BY THE 

LIGHT, by Betty J-Eadie with 
Curtis Taylor ..... I 72 

3 BARBARA BUSH; A Mem- 
oir, by Barbara Bash 12 2 

4 THE BOOK Of VIRTUES, 

by WOluun J. Bennett 4 40 

5 MIDNIGHT IN THE GAR- 
DEN OF GOOD AND EVIL. 

bv John Bercndt 6 29 

6 Motherless daugh- 
ters, by Hope Fridman — 5 9 

7 THE KENNEDY WOMEN. 

by Laurence Learner 3 6 

8 BRANDO: Sous My Mother 
Taught Me, by Marion Brando 

with Robert Lindsey I 

9 OCTOBER 1964. by David 

Halberstam 7 6 

10 THE TRIBE OF TIGER, by 

Elisabeth Marshall Thomas ... 8 7 

11 THE AGENDA, bv Bob 

Woodward ............ .... 9 14 

12 TRUE NORTH, by ED Ker 

Conway 1 1 2 

13 BASEBALL, bv Geoffrey C. 

Ward and Ken "Burns I 

14 THE CATCHER WAS A 

SPY. by Nicholas Dawidoff - 10 7 

15 BETTER THAN SEX. by 

Hunter S. Thompson l 

ADVICE. HOW-TO 
AND MISCELLANEOUS 

1 MEN ARE FROM MARS. 

WOMEN ARE FROM VE- 
NUS. bv John Gray I 70 

2 IN THE KITCHEN WITH 

ROSIE by Rosie Daley 2 22 

3 MAGIC EYE H, N. E Thing 

Enterprises 3 — 

4 MAGIC EYE N. E Thing 

Enterprises 34 


er of the day. He became visible 
as part of a musical upper, with 
Stan Getz when the tenorman 
leaped into rare atmosphere af- 
ter he learned he was dying. 
He’s been on a post-Tommy 
Flanagan roll ever since. 

JOSHUA REDMAN, 
“MoodSwing” (WB): Charm 
and brains aside, Redman has 
the potential to be an innovator 
on a par with, say. Sonny Rol- 
lins. Going after both passive 
and active listeners here, be gets 
that much closer to realizing iL 
His fine rhythm section de- 
serves credit: Brad Mehldau, 
piano, Christian McBride, bass. 
Brian Blade, drums. This may 
turn out to be an important 
record. 

MIKE ZWERIN. IHT 



Riduld MOdcobeD/ Camera Press 


Joshua Redman 


predictably, turned into another demon- 
stration of support for Chung. 

Chung, who seems to have accepted the 
legal realities of the situation, repeated 
his position that neither money nor power 
was his concern, but that he regret td the 
abrupt interruption of five years of work 
with the orchestra and its rejuvenation 
under his leadership. 

Several orchestra members were pre- 
sent and spoke up in Chung's, and their 
own. behalf. Rene Benedetti, a cellist and 
the Force Ouvrifcre representative, reiter- 
ated the sentiments expressed in the 
broadsheet handed out Monday evening. 

Holliger. the oboe soloist who bad re- 
fused to perform the Messiaen work un- 
der any other conductor on the ground 
that it was contrary to the composer's 
express wishes, said' that the behavior of 
French cultural authorities was giving 
France “a very bad reputation” abroad. 

If only for self-interesL the orchestra's 
apparent solidarity with Chung is easily 
understandable. It Has had a good 
amount of recording work merely be- 
cause Chung has insisted on making re- 
cordings for DG with his orchestra, and 
the recording now being made of the 
Messiaen “Concert a quatre” may well be 
the last. 

The company's plans with Chung in- 
clude some if not all of the Shostakovich 
symphonies with the Philadelphia Or- 
chestra, Rossini's Stabal Mater with the 
Vienna Philharmonic, and Berlioz' with 
the Philharmonia Orchestra of London. 
No mention of the Paris Op6ra orchestra, 
with which Chung has recorded “Otello," 
Messiaen's “Turangalila Symphony” and 
a disk of Bizet works. 

And there matters stand at the mo- 
men L 

When Chung conducts the final perfor- 
mance of “Boccanegra” on Oct. 14, he 
will depart with his contractual severance 
amounting to a couple of years pay, re- 
portedly a sum in the neighborhood of 9 
million francs ($1.7 million). Then it will 
be up to the new director. Hugues Gall, to 
write the next chapter in the Paris Optra's 
turbulent history. 


ONDON — The National The- 
atre’s ongoing love affair with the 
Broadway past now reaches out to 
Lillian Henman and “The Chil- 
dren’s Hour,” first seen on Broadway in 
1934 but banned here since because it deals 
with the subject of lesbianism. It was a 
curious veto even by British theatrical cen- 
sorship standards, mice the whole point of a 
now somewhat creaky drama is that the 
accused schoolmistresses did not in fact live 
together, at least not in a sexual sense. 

The play is not Heilman's best, but it 
takes its place in that long line of evil- 
chQdren dramas running from “The Inno- 
cents” to “The Bad Seed” Only in the last, 
heartbreaking act does Heilman give us the 
truth about the teachers, which is that 
although they have never been lovers, one 
at least is prepared to die for their love. 

Like much of Heilman. “The Children’s 
Hour” is a play about the conflict between 
private morality and public acceptability, 
and in Howard Davies's rather slow pro- 
duction it elicits two immensely strong 
performances from Harriet Walter and 
Clare Higgins as the doomed teachers. 

Even they, however, are outplayed, in 
the best supporting performance of this 
year, by Gillian Barge as the old dragon 
grandmother who organizes the whisper- 
ing campaign against them and then comes 
to realize, just loo late, that her grand- 
child's evidence is tainted. 

This was Heilman's first play, and its 
construction is indeed more than a little 
clumsy and halting; yet in there somewhere 
is a fine if old-fashioned plea for tolerance. 

We still don’t get to see much Australian 
drama in London, though I’m not entirely 
convinced that “Two Weeks With die 
Queen" is going to make us as aware as we 
should be of the lack of it. Adapted by 
Mary Morris From Morris Gleiizman’s 
best-seller, this has been running nearly 
three years in Sydney and has been 
brought to the National by Alan Ayck- 
bourn, though rather surprisingly as an 
evening rather than a matinee event, since 
its target audience would seem to be teen- 
age shool children. 

The story is of 12-year-old Colin from 
New South Wales. Told that his brother has 
inoperable cancer, he is sent to London and 
decides to visit the queen in the hope that 


she can send him back with a good doctor. 
Predictably, he fails to make it to the palace; 
but along his eccentric journey he teams up 
with a man whose partner is dying of AIDS. 
Through their love for each other, and their 
courage, the boy comes to learn that death 
has to be faced and endured and that he 
must return to his dying brother. 

This is part morality tale, part adven- 
ture, and Ayckbourn's highly stylized pro- 
duction makes all kinds of 'virtues out of 
necessity, turning a skimpily written and 
sketchily drawn play into a constant 
vaudeville of life and death, despair and 

LQNPOIV THEATER 

hope. An agile cast doubles as all the 
adults and children involved, with Sean 
McKenzie admirable as the wimpish cous- 
in Alastair and Tamblyn Lloyd holding the 
whole fragile enterprise together as Colin. 

At Hampstead, Brad Fraser's “Poor Su- 
per Man” is another of his highly episodic, 
almost filmic accounts of overlapping lives 
and loves in an unnamed Canadian city 
which the internal evidence suggests to be 
Edmonton. A successful painter stricken 
with artist's block goes to work in a restau- 
rant ran by a young married couple and 
tries to seduce the husband. Meanwhile 
there’s an HIV-positive transvestite who 
wants a sex change, and a bitter female 
journalist and narrator. Not a lot would 
seem to be happening in Alberta, which is 
why ( here as in Fraser's “Love and Human 
Remains") the internal lives of its residents 
are much more intriguing than what they 
actually do for a living, 

Fraser and his director. Jan Brown of 
the Traverse in Edinburgh where the play 
was first seen during the recent festival, 
work in a remarkable kind of theatrical 
shorthand. Scenes and characters are 
briefly sketched in. then allowed to run 
concurrently through a sequence of soap- 
operatic confrontations while a series of 
captions on stage behind them either high- 
light their current sexual and social dilem- 
mas or else contrast what they are saying 
with what they are thinking 

Sometimes the device becomes gim- 
micky, but more often than not it serves to 
fill gaps that would otherwise have needed 
long scenes of exposition or endless tracts 
of explanatory dialogue. Fraser’s is one 
way of looking at the theater of the future. 
It will be freeze-dried, bit-sized and infi- 
nitely adjustable. 


BOOKS 


FIFTY DAYS 
OF SOLITUDE 

By Doris Grumbach. 114 pages. 
515. Beacon. 

Reviewed by 
Ellen Greenblatt 

D ORIS Grumbach, former 
literary editor of the New 
Republic and National Public 
Radio book reviewer, hoped 
that “Fifty Days of Solitude” in 
the winter isolation of rural 
Maine would be a Grand Tour 
of self-discovery. But like 19th- 
century American travelers, 
who told themselves they were 
leaving their usual lives behind 
to venture into the unknown of 
Europe, Grumbach turns out to 


have taken with her a great deal 
of baggage, much of iL unfortu- 
nately, familiar. 

Readers of Grumbach' s earli- 
er mem wrs will recognize the 
woman who chronicled the de- 
tails of her life in “Coming Into 
the End Zone” and “Extra In- 
nings.” In Lhis very slim new 
volume, she invites us to be privy 
to more of her jottings and asso- 
ciations as she advances into her 
70s. In her days alone, ponder- 
ing solemnly, 'some might say 
pompously, whether she is pre- 
paring heraelf for “the final deep 
freeze, the eternal hibernation, 
the last empty room, the eventu- 
al. never-to- be- interrupted soli- 
tude-. death,” she realizes that 
extended solitude is difficult not 
so much because she misses oth- 


ers but because, without them, 
she begins to wonder if she her- 
self exists. 

Alone, she is torn by conflici- 
ing impulses to keep her 
thoughts to herself and to 
“share” them through her writ- 
ing. When she does begin to 
record her ideas, she is self-con- 
sciously unsystematic. “I felt it 
was all too insignificant, too 
scrappy, to be put into a bound 
notebook. But still ..." But still 
Indeed. After all these years, she 
knows herself: Her acknowl- 
edged egocentricity as a writer 
prevails, and she produces a 
book whose often random ru- 
minations echo her two previ- 
ous memoirs. 

One of the pleasures of being 
alone is being able to set rales 


and bold forth without fear of 
contradiction, correction or in- 
terruption. Grumbach estab- 
lishes amusingly arbitrary stan- 
dards about wbat solitude can 
include. Watching videos, en- 
gaging in correspondence, lis- 
tening to CDs and the radio — 
only NPR, of course — 40 min- 
utes a day and going to church 
without speaking with other 
worshipers are all permitted. 

“Fifty Days erf Solitude” is at 
its most compelling when Grum- 
bach writes anecdotally. In the 
last few pages of the book she 
allows herself to recall the horrid 
loneliness of a homely young 
man for whom solitude was nei- 
ther a blessing nor temporary. 
Protecting her own “warm selF 
and “private concerns” as tem- 


porary director of the writing 
program in which he was en- 
rolled, she banished him from 
her busy life to loneliness, self- 
mutilation and eventual suicide. 
Of course she is not to blame, 
but here she can't control the 
memory by writing it away (it 
clearly wasn’t “fun" to cater to 
his needs). His loneliness haunts 
her solitude. 

By the end of this volume, 
Grumbach is filled with 3 sense 
of accomplishment at having 
survived and even prospered 


during her 50 days. At 75, she is 
eager to get back to Lhe world 
she never entirely left and to gel 
on with the familiar pleasures 
of cities, companionship and 
travel. Her last sentence is one 
of her simplest and clearest: 
“Like Don Quixote,” she con- 
cludes, “I have learned thaL un- 
til death, it is all life.” 


Ellen Greenblatt, a writer and 
teacher in San Francisco, wrote 
this for The Washington Post. 


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Page 10 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 28, 1994 


A Special 
Report 


Uganda 


On Road to Democracy, but Obstacles Remain 


By JonUden 


*| m yr AMPALA Uganda 
— Determined to 
avoid a return to the 
JL- reign of terror that 
destroyed the country between 
1971 arid 1986, Uganda is 
working bard to build a de- 
mocracy. Bui the Ugandans 
have discovered that in a coun- 
try of largely illiterate poor 
fanners, where most people 
with education have either 
been killed, exiled or were part 
of the terror, ensuring that 
power stays with the people 
means more than putting dem- 
ocratic institutions in place. 

Uganda has been run by 
Yoweri Museveni's National 
Resistance Movement since 
General Museveni and his 
guerrillas won a military vic- 
tory over the regime inherited 
by Tito Okello from Milton 
Obote in 1986. When it took 
power, the NRM gave itself a 
five-year term to establish law 
and order before handing over 
power to a democratically 
elected government In 1990. 
the NRM argued that the 
country was not yet ready for a 
multiparty democracy, and se- 
cured a five-year extension of 
its rule through a referendum. 

In March, Ugandans voted 
for a constitutional assembly 
in elections that were accepted 
by independent foreign ob- 
servers as free and fair. Gener- 
al Museveni has maintained a 
ban on political parties, how- 
ever, so the candidates ran on 
individual tickets. (The gov- 
ernment chose to ignore that 
the country's three former par- 


ties organized candidates unof- 
ficially.) To prove die indu- 
sionist nature of the NRM, two 
of the ministers in the current 
cabinet are also leaders of their 
officially defunct parties. 

Parliamentary ejections are 
scheduled for early next year, 
when a new constitution will 
be ready. 

Yet the ban on political par- 
ties may be extended for an- 
other five years, or the ques- 
tion of parties may even be left 
out of the new constitution al- 
together, if General Museveni 
gets his way. This worries sev- 
eral Western countries as well 
as representatives of the for- 
mer political parties, who fear 
that the National Resistance 
Movement’s hold on power 
will cement one-party rule. 

“Sub-Saharan Africa is still 
pre-mdusmaL This is a society 
before class society. It is a soci- 
ety of peasants. So for some 
people to think that we can 
manage in exactly the same 
way as the industrial societies 
is totally irresponsible,” the 
president said in an interview. 
“The countries in the West 
have gone through the phe- 
nomenon of class evolution 
and this has formed a social 
basis (for political parties). I 
think it is criminal for these 


gress, would doubt General 
Museveni’s sincerity in his 
search for a system that gives 
ordinary people the power to 
elect and dismiss governments 
through their votes. Few would 
even disagree that political 
parties are an imperfect foun- 
dation for democracy in coun- 
tries with strong ethnic and re- 
ligious divisions. The question 
is whether any alternative ex- 
ists. 


newspaper. Museveni is not 
only building a democracy, he 
is buildinc a state. He is ob- 


is building a state. He is ob- 
sessed with creating a middle 


countries to insist, ignorantly 
or arrogantly, that the whole 


or arrogantly, that the whole 
world should be managed in 
the same way. What we should 
talk about is the fact that each 
individual must have a say in 
how he is governed.” 


No one, save some represen- 
tatives of Milton Obote’s old 
party, Uganda People's Con- 


Uganda Railways Corporation 


Importers to and Exporters from Uganda - URC 

offers fast and reliable transport at these rates: 


Kampala - Mombasa - US $ 45 per tonne (Exports). 


Kampala - Dar-es-salaam - US $ 50 per tonne 

(Exports). 


Mombasa - Kampala - US $ 65 per tonne (Imports). 


Dar-es-salaam - Kampala - US $ 70 per tonne 

(Imports). 


URC also handles transit traffic to Rwanda, Burundi, 

Eastern Zaire and Southern Sudan. 


Contact: 

Chief Marketing Manager 

on Tel.: 256-41-259831 
or Fax: 256-41-244405. 


We are proud to be the 
market leader in the 
Industrial 
development 


of Uganda 


For Quality products: Soap, Cooking oil, plastics. 



Corrugated boxes. Sodium Silicate, and Premium Tea 


H uic* *mq 




Mukwano Industries Ltd 


Plot 30, Press House Road , P.0. 2671, K'la. 
Tel: 235701/6. Fax: 235704. 


Although their leaders deny 
it, it is generally perceived that 
the three old parties in Uganda 
— the Democratic Parly, the 
Conservative Party ana the 
UPC — follow ethnic lines. 

“At the moment, there is no 
class identity, no economic or 
political interests that can tie 
people together across ethnic 
lines,” said Wafuia Oguttu. 
chief editor of The Monitor, 
Uganda’s main independent 
newspaper. “Museveni is not 


sessed with creating a middle 
class that can cany the econo- 
my and become a stabilizing 
force politically.” 

That, foreign diplomats 
agree, will take considerably 
longer than the five-year exten- 
sion of its ruling mandate the 
NRM is likely to get from the 
constitutional assembly. Al- 
though the NRM receives sup- 
port from a majority of the 
constitutional assembly mem- 
bers, representatives loyal to 
the three political parties hold 
between 100 and 130 of the 284 
seats, and any failure to pro- 
vide a timetable for reintro- 
duction of parties could lead to 


a walk-out by this significant 
minority. 

Still, both Ugandans and 
foreigners axe optimistic about 
the country’s political future. 
Thqy believe that what lacks in 
political fundamentals are 
compensated for by economic 
progress. “Economic develop- 
ment is a major stabilizing ele- 
ment," said a western diplo- 
mat “As the pie expands, there 
will be less competition for a 
part of it." 

The confidence in the coun- 
try’s future is clear in and 
around Uganda's major towns, 
where new houses, factories 
and workshops are sprouting. 
“We are soon reaching the 
point where army officers, bu- 
reaucrats and politicians will 
have too much to lose from 
creating instability that could 
descend into violence,” said 
Mr. Oguttu. “Even corruption 
money is spent on houses in 
Uganda these days, rather than 
sent to accounts in Switzer- 
land. Now, that is progress.” 

Many observers are also en- 
couraged by the educational 
effect of the recent elections 
and the work of the constitu- 
tional assembly. “Even the 
UPC leader Cealie Ogwal has 
become more moderate in her 
statements and actions,” said a 
western diplomat. “Politicians 
are discovering that debate 
and voting actually works.” 

The most serious threat to 
Uganda’s future stability is its 
near total dependency on the 
authority of one man. General 
Museveni, who is not yet SO. 
makes all major decisions and 
quite a number of trivial ones. 

Dozens of interviews with 
foreign observers and Ugan- 
dans, from business executives 
to the unemployed, failed to 
produce a harsh word about 
the president. Even ordinarily 

sober diplomats and aid offi- 


a dangerous power vacuum, 
analysts warn. 

They predict that only by 
transforming the NRM from a 
movement to a political party 
that can compete in elections 
can General Museveni retain 
stability without compromis- 


The president vehemently 
disagrees. “It is the individuals 
who should govern themselves, 
not gangs or groups or whatev- 
er you call them," he said. “Let 
us go back to the individual 
and see how he wants to be 
governed. Thai is what democ- 
racy is all about.” 



“The mistake in Africa was to 
give too much power to the 
bureaucrats . What we are 
doing is to give the power 
over their own affairs back to 
those who produce the w ealth. 


H° rt * 


xto 




■ iHAWl 


V wvf 

. •.r.rtbl 


■mm 


: ...v ttidi 




JON LIDEN, a journalist based 
in Hong Kong, frequently writes 
about developing nations. 


^ AP, isp; Joa UdtartBT 

General Yoweri Museveni, the president , inset; Kampala's modem skyline. 


%•:* L. 

Hi- 

. . . c* 

”*.• • 1 .. . a 

v V-..r 1 ■' : . ...: 


Economic Medicine With Asian Flavor 

K AMPALA Uganda cut ting subsidies, Emitmg gov- range of products available is ability to rebuild. 

— Asked whether he eminent spending, recognizing increasing. percent of Uganda 

was trying to apply the private sector as the engine For a country whose per cap- citizens arerii v p 
the economic model of the economy and encourag- ita GDP shrank by about 2.4 an estunatoa oou. 


Cv 

.... -surtt* 


V 

I. 4 lift I 


K ampala Uganda 

— Asked whether he 
was trying to apply 
the economic model 
that has brought rapid growth 
to countries such as Thailand 
and Malaysia to Uganda, 
Yoweri Museveni demurs. 

“I don’t know very well the 
Asian modeL I never bothered 
to study it very closely,” the 
president said in an interview. 
“What I can tell you is our own 
analysis. There are three 


groups of people in our soci- 
ety: There are those who pro- 


duce wealth. Then there are 

those who record wealth, and 


those who just spend the 
wealth of other people’s pro- 


dais bring out the superlatives 

in their description of General 


in their description of General 
Museveni's energy and vision 
for his country and Africa. 

However, his apparent in- 
ability to build up personalities 
who could take over after him 
and to delegate responsibility 
to his cabinet worries these ob- 
servers. If General Museveni 
sticks to his promise of retiring 
from politics in 1999, the 
NRM could unravel and leave 


wealth of other people’s pro- 
duction. The mistake in Africa 

was to give too much power to 
the recorders; the bureaucrats. 
This can lead to great distor- 
tions. What we are doing is to 
give (the power over their own 
affairs) back to those who pro- 
duce the wealth.” 


For all his professed igno- 
rance of Asian conditions, Gen- 
eral Museveni is administering 
to Uganda an economic medi- 
cine similar to the one that hak 
brought high growth to South- 
east Asia and is hauling Viet- 
nam and China thro ugh the 
painful transition from commu- 
nism to a market economy. By 
renting in the money supply, 


catting subsidies, Emitmg gov- 
ernment spending, recognizing 
the private sector as the engine 
of the economy and encourag- 
ing foreign investment, the 
president has jolted Uganda 
mto a reform process only 
equaled in Africa by Ghana. 

The country’s GDP has 
grown an average of 5.5 percent 
over the last seven years with 
industry growing an average 14 
percent annually. Infla tion was 
brought down from 66 percent 
in 1992 to nil by the end of 
1993. when a drought caused 
prices to rice again by 12 to 14 
percent The shilling, having 
been made fuEy convertible, 
has stabilized at around 1,000 
per dollar, and has even appre- 
ciated enough over the last few 
months so that exporters are 
getting worried. 

The government increased 
revenue collection by a third in 
the last financial year and re- 
duced spending slightly, which 
marfa for a reduction in the 
budget deficit to 9.7 percent of 
GDP when foreign aid was ex- 
cluded. 

More tangible proof of a re- 
vived economy can be seen in 
Kampala, whore new buildings 
are going up and old factories 
are putting glass in their win- 
dows and painting their walls. 
Shops are opening and the 





Bird's eye view of the 200 MW Owen Falls Extension at the source of the Nile 
financed by: IDA, ADB, IDB, NDF, NORAD, SIDA BITS and DANIDA. 


Uganda is endowed with great potential of Hydro electric Energy. Both Government 
ana the Uganda Electricity Board (UEB) have identified Hydro electricity supply as 
one of the key pre-requisites for industrial growth and provision of support for 
environmental protection. Currently a 200 MW station is under construction at the 
Owen Falls Power Station at the Source of the Nile Financed by: IDA, ADB, IDB, 
NDF, NORAD, SIDA BITS and DANIDA 

UEB sells power to Kenya and Tanzania. Potential customers are Sudan, Zaire, 
Rwanda and Burundi. In line with Government's policy of liberalization. Intending 
private investors are welcome to invest in the Hydroelectric power generation. Many 
sites, ranging from 1 MW to 1,000 MW have been proved economical for 
development. 






For further details contact: 

MANAGING DIRECTOR 
UGANDA ELECTRICITY BOARD 
P.O. Box 7059 
KAMPALA 

TEL.: 254071 - FAX: 235119. 


Jon the mutate badas send tor ft* latest npvton Uganda's economc progress 
dnd dtKBiw the potential far your boaktaas. 


Uganda Investment Authority 

P.O. Ban 74 18. Kampala, UGANDA. Ptwna no.' 4 1 2515BS&. Fax * SS6 41 24S303. 


Area of interact 


range of products available is 
increasing. 

For a country whose per cap- 
ita GDP shrank by about 2.4 
percent a year between 1965 
and 1990, the signs of progress 
have created an optimism 
among people in the cities that 
has ™cen on a self-fulfilling ef- 
fect 

“There are hundreds of op- 
portunities now,” beamed 
Frank Naggenda, a U gand a n 
businessman who returned 
from exile in Sweden to set up a 
trading operation two years 
ago. ‘This dace can only bo- 
come better. 

Uganda has established a 

secretariat to adminis ter the 
sales of most major national- 
ized industries. According to 
the stinister of worits, transport 
and co mmunications , Ruha- 
Irnntt Bn pmub^ the government 
is planning to sell oSS its tele- 
communications interests be- 
fore the end of next year. 

But economists and aid offi- 
cials say the reforms still have 
a ways to go. 

“The World Bank is not say- 
ing Uganda is a success,” cau- 
tioned Brian Falconer, the 
bank’s repres e n tative in Kam- 
pala. “The country is moving 
down a path of reform and is 
shouting good results in a short 
period of time. But unless the 
poverty issue is addressed, 
than will be no success." 

Nearly 90 percent of Ugan- 
dans live in rural areas, and, so 
far, the reforms have made 
most people in the countryside 
poorer. Unless this changes 
over the next few years, the 
country’s momentum may fal- 
ter and it could start sliding 
backwards, Mr. Falconer and 
other aid officials warn. 

As an agricultural country, 
Uganda is vulnerable to swings 
in commodity prices and the 
weather. Although rich in hy- 
droelectric power potential, 
Uganda is landlocked and 
transportation costs are high, 
preventing it from becoming 
an industrial exporter of any 


ability to rebuild. Nearly 10 
percent of Uganda’s 18 mi ll io n 
ci tizens are HIV positive, and 
an estimated 880,000 people 
will have died of AIDS by 
1998. 

In the northwestern part of 
the country, a ragtag band of 
rebels has killed a number of 

O le and has gotten hold of 
mines, preventing aid of- 
ficials from going there. The 
result is that large areas of the 
poorest part of the country are 
not receiving the aid they 
greatly need. 

But donors, hard-pressed for 
success stories from Africa, are 


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nonetheless backing Uganda. 
At a conference in July, the 


At a conference in July, the 
country asked for S515 million 
in aid and received pledges of 
$820 ntifihm from 23 different 
donors. Donors applauded the 
government’s success in cut- 
ting the number of government 

agencies from 38 to 21 and 
red ucing the number of civil 
servants from 320,000 to 
170,000, as well as being on 
track in its demobilization pro- 
gram which will have reduced 
the armed forces by 50,000 
next year. 

Though it is welcome relief 
in building of the economy, the 
aid should worry the govern- 
ment in the long run. Foreign 
aid amounts to around 60 per- 
cent of the 1994-95 budget rev- 
enue, causing widespread wor- 
ry among U gandans that the 
oounxry is in practice bong run 
by the World Bank, the IMF 
and donor nations. 

IBere are also complaints 
against the fairly brutal mone- 

S policy the World Bank 
the IMF are seen to im- 


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size. Its hope lies in developing 
high-revenue cash crops and 


high-revenue cash crops and 
increasing its ability to process 
the country’s agricultural and 
mineral resources. Tourism is 
also expected to become a ma- 
jor revenue-earner. 

With most of its middle class 
either killed or driven into exile 
and the education system only 
beginning to recover after 
years of neglect, the human re- 
source base is small. Execu- 
tives complain that finding 
good mid-level staff is hard. 

The AIDS epidemic is fur- 
ther weakening the country's 


pose. 

With interest rates of around 
20 percent and a national sav- 
ings rate of 5 percent of GDP, 
investors have problems fi- 
nancing their projects. 

Currently, General Muse- 
veni spends much of his energy 
convincing foreigners that 
Uganda is the right place for 
their money. Over the last few 
months, he has traveled to the 
United States, Scandinavia, Ja- 
pan and India, promoting in- 
vestment With disasters such 
as Rwanda, Somalia and An- 
gola dominating news about 
Africa, it takes some time to 
win over industrialists, admit- 
ted the chairman of the Ugan- 
da Investment Authority, AB, 
Abaliwano, but he is con- 
vinced that foreign investors 
will realize the potential of 
Uganda. He rites the country's 
agriculture, power reserves and 
good climate. Jon Lid&i 


1 

AC 


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JydJ & 


INTERNATIONAL HERALD TRIBUNE. WEDNESDAY. SEPTEMBER 28, 1994 


Page 1. 


fiifciju 


rnifi 


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UK J -i 

*■***'. 

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Uganda 


A Special 
Report 


Efforts to Put the Nation on Tourist Map War and AIDS Touch a Million Children 



By Jon Iid£n 

J INJA, Uganda — For the world’s 
longest river, one would expect 
something slightly more imposing. 
But the sign announcing the source 
of the Nile an hour’s drive from Kampala. 
• is tiny and in need of some new paint. A 
small lane leads to a point where one can 
: see the water of Lake Victoria being 
:* forged into a river by intensely green and 
■'luxuriant hills. 

There used to be a plaque here, com- 
memorating John H. Speke's discovery of 
Ctbe source of the Nile in 1862. Recently, 
* the text was replaced with the simple com- 
’menu “At this point the Nfle starts its 
; -5,584 kilometer long journey toward die 
/Mediterranean Sea.” 

■. _ Such sobriety sums up Uganda’s tour- 
T ism industry. There are no champagne 
lunches in the game reserves, nor are there 
tree-top hotels where you can enjoy ele- 
phant-watching with your breakfast eggs, 
but travel agents claim that you may expe- 
rience something that is becoming increas- 
ingly rare in other African tourist destina- 
tions: real, untamed African nature. 

* “We can never compete with Kenya in 
..tiie sheer numbers of animals you can 
•see,” said Mb] am Blaak, director of the 
travel agency DeLmira, which represents 
- Thomas Cook in Uganda. “W hat Uganda 
has is this vast, wild beauty you don’t see 
■ in Kenya anymore. There are enormous 


areas of untouched savannahs, rain forests 
and mountains, and when you go on a 
safari, you really feel you are out in the 
wilderness.” 

With nine national parks, including two 
mountain gorilla parks and Africa's third 
and fourth highest mountains, as well as a 
highland climate that ensures tempera- 
tures between 20 and 28 degrees Centi- 
grade yeanound, Uganda has the poten- 
tial to attract several times the 80,000 
tourists who visited last year, industry 
officials say. 

But Uganda's tourism industry is just 
starting up after years of war and neglect 
that left hotels and lodges in ruins and 
almost wiped out wildlife in the country’s 
main national parks. Wildlife experts say 
that vegetation-eating animals such as ga- 
zelles, antelopes ana zebras have been 
flocking into the empty parks, which are 
rich in fodder due to years of underpopu- 
lation, and that predators are following on 
their heels. 

Services have been reestablished in 
most of the country’s national parks, but 
they are rudimentary. Despite this, safaris 
in Uganda are relatively expensive, mainly 
because of high maintenance and fuel 
costs for vehicles on the bad roads. 

Uganda only established a tourism 
board to promote the country abroad and 
to coordinate the development of new 
facilities in September of this year. 

Until recently, the marketing of Ugan- 


da has been mostly based on individual 
efforts by travel agents. Now, the new 
tourism board, together with the largest 
tour operators and travel agents operating 
in Uganda, is planning a marketing offen- 
sive. They have taken stands at major 
tourism fairs in Britain, Germany, Sweden 
and the Netherlands. The Belgian airline 
Sabena recently increased its number of 
flights to Uganda to six weekly, and will 
run a marketing campaign for Ugandan 
tourism. 

Still, putting Uganda on the map as a 
major tourist attraction will take more 
than marketing. There is the issue of staff, 
for one. Most of the original hotel staff are 
old or dead, and the new staff has little 
knowledge of service or how to run a 
restaurant or a hotel. 

Then there are the hotels and lodges 
themselves. The government is currently 
selling off hotels that were nationalized 
under Idi Amin’s rule, as well as awarding 
concessions for building and running fa- 
cilities in the country’s national parks. 
The process has not been without prob- 
lems, however, and safari operators com- 
plain that the new hotel owners and con- 
cession holders are unwilling to commit 
capital for renovation and expansion.. 

“It is a Catch-22 situation, really," said 
Ms. Blaak. “They don’t want to invest 
before they see tourism figures going up, 
and we can’t get more tourists before the 
facilities improve.” 


Ugandan Asians Slowly Begin to Return 

- ■ AMP ALA, Uganda — Asians, When the Asian Ugandans left, Idi Amin economy would most likely rekindle i 

* who once dominated Uganda’s distributed the spoils between his followers, semments that lie buried among ma 

economy, are warily returning but in 1982, the Asians' property was con- Africans, who feel that Asians discrin 
1 R ■ ^^-to the Country that excelled fiscaicd bv the state and set under ad minis- nate aeainsf them in htismess — nr? 


K AMPALA, Uganda — Asians, 
who once dominated Uganda’s 
economy, are warily returning 
to the countiy that expelled 
'them 22 years ago. Most come to reclaim 
property , but a growing number of Asians 
rare so encouraged by Uganda's recent 
years of stability and economic progress 
•that they are willing to risk new invest- 
-* meats. 

■- So far, an estimated 5,000 out of the 
original Asian community of 70,000 have 
-returned. “Most of the families here are 
’re p rese n tation families’ for large, extended 
families, sent to check out the situation.” 
• said Mumtaz Kassam, a laywer who assists 
'Asians in their property claims. Whether 
-the majority of Asians will eventually re- 
ctum to Uganda will depend much on the 
reports these advance teams said back. 

“The bad state of the infrastructure has 
'repelled many Asians,” said Ms. Kassam. 
.Many are also discouraged by seeing the 
rundown condition of their property. “A 
■lot of the property the Asians left was 
plantations and factories which have now 
returned to the jungle:" 


When the Asian Ugandans left, Idi Amin 
distributed the spoils between his followers, 
but in 1982, the Asians' property was con- 
fiscated by the state and set undo* adminis- 
tration of a custodian board. Realizing that 
damage was done to Uganda as weD as to 
those expelled, who accounted for more 
than 80 percent of the country's trade and 
industry, the government passed a Jaw to 
return the confiscated property to Asians 
who would resettle here. 

Little happened until 1990, however, 
when four years of Museveni rule had con- 
vinced many Ugandan Asians that more 
violence was unlikely . 

Although some Asians come back to sell 
their property, a growing number are set- 
ting up business ventures in Uganda. 

“1 believe Asians are still very cau- 
tious,” said Chris Martin, managing direc- 
tor of Barclays Bank of Uganda. “Yet. if 
this country is going to rebuild itself, 
Asians have to play a leading pan. So 
many of the country's own intellectuals 
and middle class were wiped out by 

Amin. ** 

Still, a return to an Asian-dominated 


economy would most likely rekindle re- 
sentments that lie buried among many 
Africans, who feel that Asians discrimi- 
nate against them in business — or ex- 
clude them — and grow rich on the labor 
of African workers. 

To prevent resentment, the law has now 
been changed so that only former Ugan- 
dan citizens, regardless of ethnic back- 
ground, can re claim property. 

“We are not giving Asians any special 
rights. We are treating everybody equal- 
ly," President Museveni told journalists 
during a recent visit to India. 

Ms. Kassam, herself an Asian who was 
bom and raised in Uganda, is aware of the 
problem. She returned for visits in 1986 
and later moved here to set up a legal 
consultancy with an African- Ugandan 
partner. 

“The segregation is in large part a result 
of the old colonial system." she says. 
“Now a lot of companies are formed as 
joint ventures between Asians and Afri- 
can- Ugandans. They have the contacts 
and we have the expertise. We need each 
other." Jon Lidea 


K AMPALA, Uganda — There 
were around 100 children in the 
building and the counyard be- 
hind it. Some smiled and shout- 
ed and clung to a visitor as if holding a 
hand was as precious as getting a good 
meal, but most just sat or stood around 
■silently, ignoring everything and evervone 
around them. 

The old woman who ran the orp hana ge 
told terrible tales of how children had 
watched parents being hacked or burned 
to death in their huts. She begged the 
visitor to help find a charity to bring 
supplies to the orphanage. 

jnbat was in 1986. when Uganda was 
still in shock after a three-year civil war 
that had cost an estimated 400,000 lives 
and left the countiy is ruins. The legacy of 
that war is that Uganda has more orphans 
than any other country, relative to the 
population. Now, AIDS has taken over 
where the war left off. Unicef has estimat- 
ed that 1.2 milli on of Uganda’s eight mil- 
lion children have lost at least one parent 
to AIDS or war. 

Nearly half a million people are expect- 
ed to die from AIDS over the next four 


years, leaving 400,000 more children part- 
ly or completely orphaned. 

Despite these figures. Uganda is far 
from a disaster area. The decrepit orphan- 
age this writer visited in 1986 is gone, as 
are most others. “Only 2,000 children live 
in orphanages, and another 3,000 or so 
live on the streets." says Charles Na- 
bongo, a project officer at Unicef in Kam- 
pala. “The rest have been absorbed by the 
extended family system.” 

“To some extent, Uganda can serve as 
an example of successful rehabilitation for 
other traumatized countries in Africa,” 
said a western diplomat in Kampala. “To 
see the country today, knowing what a 
human and physical ruin it was eight years 
ago, one gets very impressed ” 

Traditionally, members of most of 
Uganda’s ethnic groups did not make a 
distinction between weir own children 
and those of their siblings — a trait that 
has greatly helped orphans. Aid workers 
warn, however, that the increasing poverty 
in the countryside and the depletion of 
human resources by AIDS deaths are put- 
ting more pressure on families. 

“When you can only send one or two of 


your children to school, or you canno - 
afford medicine for all, it is inevitable lha *. 
your biological children get first priority," 
said Josephine Harmswortfa Andama, ar. 
anthropologist who has lived and worked 
in Uganda ~since the 1950s. Ms. Harms- 
worth has herself brought up several or- 
phans, In addition to her own children, 
after her husband was killed in 1979. She 
has done extensive work on the effects of 
war on women and children in Uganda. 

Compensating for this effect is difficult. 
“When orphans are absorbed by extended 
families, there is a danger of them becom- 
ing ’invisible* and very hard to reach with 
assistance," says Mr. Nabongo. 

This has been experienced by Redd 
Bare a, an organization that runs a pro- 
gram for AIDS orphans in southwestern 
Uganda. “When we announced that we 
would assist orphans, we produced a lot of 
new ‘orphans’ in the villages,” said An- 
dreas Fuglesang, Redd Baraa’s represen- 
tative in Uganda. “Of course everyone 
wanted assistance, and unless we ad- 
dressed the whole community, we did not 
get very far.” 

Jon Lideu 


Let Your 

INVESTMENTS MOVE 
INTO TOP GEAR. 


At Uganda Development Bank, we provide the 
finances for medium and long term development pro- 
tects in agriculture (crop and Livestock), agro-proces- 
sing, industrial and tourism development. 

We lend to mainly medium and large scale investors 
ns well as joint-ventures in all the above mentioned 
categories. 

Uganda Development Bank invites all interested par- 
ties to take advantage of the unique investment oppor- 
tunities that are available in one of the fastest growing 
economies in Africa. 

For more information 
alx)ut development finance contact: 

Uganda Development Bank 

“Your sure partner in development • 


The Uganda IVvelopment Bank. 
P.O. Box 7210, Kampala, Uganda. 
Telephone: 25o- i 1-2507-10/0, lixi 256 
Fax: I-2SH371 . Telex: Ol M3. 




Uganda Posts and 

Telecommunications 

Corporation 


Uganda Posts and Telecommunications Cor- 
poration has made considerable efforts in resto- 
ring and improving the national telecommunica- 
tions network. Uganda Is interlinked with Tanza- 
nia. Rwanda and Burundi under the Kagera 
Basin Organisation (KBO) Telecommunications 
Project, besides being traditionally linked with 
Kenya. Its international links via Mpoma Earth 
Satellite Station assures easy contacts to the 
business and international community. 

Telecommunications, however, have not 
adequately penetrated the rural areas where 80- 
90 percent of Ugandans live. The Corporation 
would like to expand and modernise its telecom- 
munications network not only in the cities but 
also In the rural areas through liberalisation of 
the telecommunications sector which has been 
recently opened to private investors. All investors 
are therefore most welcome to Uganda. 

C-onlaci : 

The Managing Director. 

Uganda Posts and 
Telecommunications Corporation. 

P.O. Box 7171, Phone: 256151. 

Pax: (256) 41-245907. Telex: 61027, KAMPALA 




INSURIN' 


H'** * • 

* ■ • 


W r ‘ ^ ' v 

a " 1 


. .. 

»’<’ 1 ’* . ” 

•• 

&p* ir 



The New Uganda: 

A Country on the Move 

A new Uganda is taking a lead in economic reform in Africa. The economy is stable and 
growing, and welcomes investors. 

Economic growth has averaged over five percent for the last seven years, inflation is 
low and stable, and the fully convertible Uganda shilling is developing into a stable, 
strong international currency. The Government has successfully sustained a strong com- 
mitment to economic stability. 

The mainstay of sustained growth is peace coupled with continued refreshing policy 
fte. rs. Mayania nkangi. reform. The Government has set a brisk pace of far-reaching economic reform, most 
mkfaifTiwutricamk notably of the trade and payments regime. 

Uganda is unique in being the first country in sub-Saharan Africa to have fully liberali- 
sed international trade and payments, with simple import and export procedures, a highly favourable business 
environment with generous investment incentives and rapidly improving infrastructure. 

Uganda is a full member of the 'Multilateral Investment Guarantee Agency' and is committed to ensuring 
security of physical and intellectual property rights and of investment. 

Uganda has a remarkable raw material base which offers myriad opportunities for investment Uganda is rich 
in minerals and enjoys fertile soil and an excellent climate. 

Agro-based industries are growing fast, while traditional exports of coffee, cotton, tobacco and tea continue to 
show better quality and increased output To these have been added exports of cereals, oil seeds, fresh fruit 
and vegetables, flowers, silk and livestock and fish products. 

The mineral sector is growing. New business opportunities have also been identified in textiles, leather goods, 
pharmaceuticals, steel and engineering. The construction sector is poised to continue a seven-year boom, and 
the rehabilitation of infrastructure and utilities continues apace. 

There has been a remarkable growth in tourism and related services, as more people come to enjoy the beauty 
and natural wonders, such as the mountain gorillas, of the 'pearl of Africa'. 

Investors are assisted at every step to maximise the ease with which projects get up and running. The Uganda 
Investment Authority was established with the purpose of providing this assistance. The UIA is a 'one-stop- 
shop' for investors, and is responsible for investment promotion and facilitation. The UIA provides a personal 
service to investors seeking information and advice on project development, implementation or expansion. 
The UIA is business-oriented, equipped to handle investors' requirements swiftly and professionally. The UIA 
has highly experienced and well qualified professional staff to provide first-hand information on investment 
opportunities, to help develop project ideas, to assist in implementing proposals and to provide after-care sup- 
port sendees to investors. 

The UIA is authorized to issue investment licences and certificates of incentives. The UIA will help the investor 
secure secondary licences and work permits. In addition, the UIA will arrange contacts for joint ventures and 
provide advice on the acquisition of industrial land and toe employment of local staff. The UIA will ensure 
protection of intellectual property and propriety technology when technology transfer is involved. 

Unnda offers Generous incentives. A tax holiday of between three and six years is offered to all investors in 
proportion to their investments. Duty-free exemptions are granted on approved project-related capital goods; 
toere are 'first arrival privileges' for expatriate staff; there is full freedom to remit dividends, interest and loan 
repayments. The market in foreign exchange allows investors to transact their business in any one of many 
currencies atmarket exchange rates. 

I Mrmda has a crowing population of 17 million, centrally located in the wider East and Southern African mar- 
ket Uganda is amenlff of the Common Market of Eastern and Southern Africa (COMESA), which consists of 
71 countries with a potential market of 270 million people. 

Ilcranda is moving into new and vigorous development. Uganda enjoys a stable economy, with the 
Government sustaimng a commitment to consistent macroeconomic stability. With a rap.dly growmg economy 
and^owsmg investment opportunities, Uganda extends a warm welcome to mvestors. 




THIS 1$ THIll# THAT SURROUNDS THE PLANT WHICH 

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The Modhvoni group is on innovative and environmentally concerned Group of Companies, lasr year the Group's turnover was US S500 million. We own 
assets worth more than US 5200 million in Uganda and employ more than 15,000 people. The Group contributes approximately 8^> of Uganda's GDP, making 
• us one of the largest and most stable private organisations in fast Africa. 


o 

L GROUP 4 


MADHVANI GROUP 


For more detailed information on our products, imports and investment opportunities write to: The Monaging Director. The Modhvani Group, P.O. Box 762 Jinio Uganda 

Tel.: (043) 20177/20178 Fax: (043) 20179. 































































































THE TRIB INDEX: 1 1 5.31 1 

by Bloomberg Business News. Jan. 1. 1992=100 
120 



UH North America 


Latin America 

Approx weighting: 26% 
CtaSK 9S.B5 Pro*-* 95.40 

150 

n 

Approx, wtyfing: 5% 
Close: 14&93 Pravj 149.81 

iwi iJ 

110 irn 

Hi 

, A SuM/ir* 


§S1 



M 


Wond Index 


A S 
1994 


A S 
1994 


77» mdex Hacks U.S. dollar values of stacks ki Tokyo, Nm York, London, and 
Areartkm, Auctraita, Audrta, Mgcm. BraaU, Canada, CWta, Dtmnvk, Finlmd. 
Franco, Garmany, Hong Kong, Italy, Mexico, KMtitrfmdt, New Zeatand, Norway, 
Singapore, Spain, Sweden, Switzerland and Venezuela. For Tokyo. New York and 
London, the Max is composed of the 20 top Issues In terms of market capArttzaton. 
otherwise the ten lop stacks am Hacked. 


1 industrial Sectors : | 


Tim. Piml % 


Tim. 




don dose dung* 


don 

dose 

dung* 

Energy 

112.17 111.69 +0.43 

Capital Goods 

117.03 

116.96 

+0.06 

UtiffiJes 

128.68 129.45 -0.59 

Raw Materials 

134.30 

13422 

+0X6 

Finance 

114.81 115.11 -0.26 

Consumer Goods 

103.78 

103.00 

+0.76 

Services 

120.99 120.38 +0.51 

Mfrceflaneous 

135.03 

133.98 

+0.78 

For nxxB Intarmalim about the Index, a booklet eavaBable free of charge. 


Write to Trtb Index, 181 Avenue Charles de Gaitie. 92521 NeuBy Cedex, Fiance. 


C International HeraW Tribune 


Lyonnais 
Pays for 
Loan Risk 

Loss for Half Hits 
4*5 Billion Francs 

Compiled by Oar Slag From Dispatches 

PARIS — Credit Lyonnais 
said Tuesday its losses grew in 
the first half of 1994, but it 
failed to unvdl an expected 
government rescue package. 

The fust-half loss grew to 4-5 
billion French francs ($830 mil- 
lion). because of 8.9 billion 
francs set aside for risky loans. 

Hie state-controlled lender, 
the largest European bank, del- 
ayed the planned issuance of its 
results last week because of the 
large provisions. A source at 
Cr6dit Lyonnais said there was a 
dispute between it and the state 
about French aid for the bank. 

Net provisions totaled 8.9 
billion francs, up 26.5 percent 
from a year earlier, when the 
bank set' aside 7.03 billion. 

The provisions announced on 
Tuesday included 4.8 billion for 
covering risks involved in “ex- 
ceptional situations,” which in- 
dud e the Altus Finance unit and 
Soti6t6 de Banque Occidental e. 

Earlier this year. Credit Lyon- 
nais agreed with the government 
to move 43 billion francs’ of 
problem loans into a new com- 
pany created for that purpose. 

But for the first half of 1994, 
the bank's auditors demanded 
new provisions. 

The loss in the first half of 
last year was 1.05 billion francs. 

The bank said first-half reve- 
nue was down 9. 1 percent with- 
out providing figures, while 
gross operating profit was 5 bil- 
lion francs, down 27 percent 

Despite the poor result Credit 
Lyonnais said it expected its 
1994 loss to be lower than the 
record 6.9 billion francs in 1993. 
“These results could appear bad 
on the face of it, but for the Erst 
time since I came here 1 believe 
we’re seeing the light at the end 
of the tunnel which is the Erst 
sign of hope,” said Jean Peyrde- 
vade, the chairman. (AFP, 
Bloomberg, Reuters, AFX) 


Better Ford Ideas 
Get Jaguar Racing 
Back to the Black 


By Warren Brown 

K'ashwpon Pail Service 

Rumors of profit have re- 
placed rumors of demise at 
Jaguar Cars Inc, the British 
luxuiy automaker that was 
prestigious but practically 
broke when Ford Motor Co. 
took it over Eve years ago. 

Jaguar executives himed 
that the company would 
move into the black soon, 
perhaps by the end of 1995. 
Industry analysts agreed. 

Jaguar is gaining in sales 
and customer esteem and is 
gaining ground in quality 
ratings, rivaling Mercedes- 
Benz, BMW and Volvo. 

A Jaguar success would be 
a big plus for Ford, which 
bought the company for $2J 
billion in 1989. Ford has 
since sunk 51.5 billion more 
into the operation, with 
most of that money going 
for a new assembly plant in 
Britain and into new models. 

[Jaguar on Wednesday 
was to launch its most exten- 
sively redesigned sedan in 
almost a decade, Bloomberg 
Business News reported 
from Coventry, England. 
The new XJ-6 and XJ- 12 will 
sport double headlamps and 
a narrow grill that harken 
back to the British carmak- 
er’s glory days.] 

Without Ford’s invest- 
ment, and without the new 
designs, “We would have 
been bankrupt, out of busi- 
ness,” said Michael H, Dale, 
president of Jaguar Cars 
North America. 

Ford bought Jaguar to ac- 
quire a prestigious luxury 
nameplate, which the U.S. 
company believed it needed 
to compete globally against 
Daimler-Benz AG, Bayer- 
ische Motoren Werke AG 
and Toyota Motor Corp.'s 
Lexus automobiles. But 
when Ford executives 
passed through Jaguar’s cor- 


porate doors, they found an 
unmitigated disaster, Mr. 
Dale sard. 

“We had a plant that was 
old and second-rate, even 
compared to the plants that 
were built in its day,” he 
said. “We had virtually had 
no quality controls. We were 
inefficient and costly. The 
Ford money was essential” 

But “as important as the 
money was,” Mr. Dale said, 


'As important 
as the money was, 
the most 
important thing 
we got from 
Ford was 
brainpower.’ 

Michael H. Dale, 
president of Jaguar Cars 
North America. 


“the most important thing we 
got from Ford was brainpow- 
er.” The “brainpower” 
helped Jaguar slash costs and 
product development times. 
Jaguar executives said 

Before Ford’s takeover. 
Jaguar had to sell 60,000 
cars worldwide to break 
even. The last time the com- 
pany even came close to that 
mark was in 1986. 

In recent years, failin g to 
make the break-even point 
has meant a loss of $1 mil- 
lion every business day. 

That “sometimes meant 
you weren’t looking forward 
to going into work,” Mr. 
Dale said. 

But with Ford's assistanc e. 
Jaguar Has managed to cut its 
break-even point in half, to 
30.000 cars worldwide. “We 
think we can do that next 
year,” Mr. Dale said. 


Fed Holds Rates Steady 
As Gold Rises Over $400 


By Keith Bradsher 

Vfw York Times Service 

Washington — The 

VS. central bank left interest 
rates unchanged on Tuesday, 
triggering inflation feare that 
pushed the price of gold above 
$400 an ounce and weighed 
upon the dollar. 

But the consensus of finan- 
cial economists Tuesday was 
that the policy-setting Federal 
Open Market Committee prob- 
ably gave Alan Greenspan, the 
Federal Reserve Board’s chair- 
man. considerable leeway to 
raise rates again before the 
committee next meets on Nov. 
15, particularly if government 
economic data released in the 
next six weeks shows signs of 
incipient inflation. 

Tne Fed issued only a terse 
brief statement after Tuesday's 
meeting. “The FOMC meeting 
ended at I P.M.,” the statement 
said. “There will be no further 
announcements.” 

A virtually identical state- 
ment followed the committee’s 
meeting in early July. The com- 


mittee members also chose then 
to leave short-term interest 
rates unchanged while giving 
Mr. Greenspan explicit permis- 
sion to raise them during the 
following weeks if he wished. 

Mr. Greenspan did not do so. 
and the committee raised short- 
term interest rates by half a per- 
centage point at the following 
meeting on Aug. 16. Today’s 
meeting was the first since then. 

The centra] bank has raised 
rates repeatedly because of con- 
cerns that inflation, now run- 
ning at slightly less than 3 per- 
cent a year for consumer prices, 
may rise soon. Some members 
of the FOMC fear higher infla- 
tion may lie in the future be- 
cause the nation’s factories are 
operating closer to full capacity' 
than they have in five years, 
which could lead people to start 
bidding up the prices of scarce 
labor and materials. 

Other members of the com- 
mittee worry that the Fed may 
have supplied too much credit 
to the nation's banks last year, 
increasing the amount of mon- 


ey in circulation and allowing 
Americans to bid up the price 
of gold and commodities. Both 
methods of analysis have pro- 
duced similar conclusions in 
Fed officials that interest rates 
should rise. 

On Tuesday, gold futures for 
December delivery on the Com- 
modity Exchange' in New York 
rose 53.60 an ounce, to 5401.40. 
That was the highest close for 
an most-active contract since 
August 1993. 

[“The spike in gold shows 
that some people flunk the Fed 
isn’t doing enough to fight in- 
flation.” David Durst, a curren- 
cy-options trader at Bear, 
Stearns & Co., told Reuters.] 

The central bankers who look 
at capacity limits — a group 
that is widely believed to in- 
dude Mr. Greenspan and Alan 
S. Blinder, the vice chairman — 
may have looked at figures re- 
leased today by the Conference 
Board as evidence that the 
economy is not going to over- 

See MARKETS, Page 14 


Metallgesellschaft Shares Sink 


Confuted by Our Staff From Dispatches 

FRANKFURT — Stock in Metallgesellschaft 
AG has plunged 20.5 percent in two days as 
investors' fears widened over a reported investi- 
gation into the role played by Germany’s biggest 
bank in the near-collapse of the metals and 
mining company. 

Meanwhile, shares in Deutsche B ank, which 
was Metallgesellschaft’s largest shareholder and 
creditor, have dropped 2.7 percent since Friday, 
double the Frankfurt market's overall decline. 

Metallgesellschaft shares closed at 1 1 8.50 DM 
on Tuesday after falling 15.8 DM on Monday 
and 1 1 .70 DM on Tuesday. Hie shares had been 
quoted at 450 DM last November before the 
crisis broke. 

Deutsche Bank closed at 687.50 DM cm Tues- 
day, off 19 DM from Friday. 

Investigations have been conducted recently 
by the New York County District Attorney's 
office into the activities of Metallgesellschaft 
Corp., the company’s U.S. unit According to 
unconfirmed reports, Deutsche Bank's U.S. unit 
is being investigated for allegedly being involved 
in the management of Metallgesellschaft’ s oil 


business, an activity that would be illegal under 
U.S. banking law. 

“We have not been made aware that we are 
being investigated by the DA’s office," said 
Christina Allaire , a spokeswoman for Deutsche 
Bank of North America. 

In addition, two U.S. economists, Merton H. 
Miller and Steve H. Hanke, recently said in 
published reports that panic-induced actions by 
supervisors had made matters worse for Metalge- 
sellschaft after it lost 2.3 billion DM on oil 
futures contracts when the oil price turned 
against the company’s bet (Bloomberg, Reuters) 

■ Campaigners Target Banks 

Germany’s powerful banks came under fire 
from the country's main political parties on 
Tuesday and the opposition Social Democrats 
pledged to clip their wings if they win an elected 
on Oct. 16, Reuters reported from Bonn. 

Chancellor Helmut Kohl said he took seriously 
the complaints of small companies that big banks 
were too powerful while Mr. Kohl’s coalition 
partners, the Free Democrats, said bank represen- 
tation on company boards should be limited. 


MEDIA MARKETS 


Turner’s NBC Frustrations 


By Edmund L. Andrews 

New York Times Service 

W ASHINGTON — Ted Turner 
lost his temper Tuesday, confirm- 
ing in an angry speech here that 
he wants to buy the NBC televi- 
sion network and then complaining that Time 
Warner Inc. — one of his biggest investors 
and a rival bidder for NBC — would not let 
him do it. 

“They’re holding me back, and it just isn’t 
right,” Mr. Turner, chairman of Turner 
Broadcasting Corp_, said. “I want to be able 
to play in tire big game.” he added. 

By turns irascible, petulant and even un- 
printable, Mr. Turner unleashed his fusillade 
at a luncheon speech before the National 
Press Club with his wife, the actress Jane 
Fonda, sitting a few feet away. 

The cable-television entrepreneur said 
Time Warner was using a covenant in its 
investment contract with Turner Broadcast- 
ing to veto his pursuit of NBC and accused 
the media conglomerate of merely trying to 
give itself a dear field to bid. 

Mr. Turner also said that he had assembled 
a 55 billion offer for NBC a year ago. but that 
the network’s owner, General Electric Co., 
would not begin discussions unless he could 
first win permission from “my handlers.” 

Tuesday’s outburst apparently came after 
lengthy private arguments between Mr. 
Turner and Time Warner’s management 
Tune Warner has been widely reported as 
offering to buv NBC from General Electric 
for 55 trillion- Time Warner now owns about 
20 percent erf Turner Broadcasting, an invest- 
ment stake second only to that of Tele-Com- 
munications Inc. of Denver. 


Both companies have veto power over any 
major investment decisions by Mr. Turner, 
though Turner executives said the company 
had not had a similar argument with Tele- 
communications. 

Time Warner, which has not yet confirmed 
that it is even negotiating with General Elec- 
tric, refused to comment on Mr. Turner’s 
remarks. 

Speaking to the National Press Cub, occa- 
sionally bangjng the lecturn in anger, Mr. 
Turner’s off-the-cuff comments were one of 
the rare times when any bidder has talked in 
public about attempts to buy a major broad- 
cast network. 

Mr. Turner’s main complaint was that 
Time Warner bad a conflict of interest, put- 
ting its own strategic interests ahead of other 
shareholders in Turner. 

“They said the network business is a lousy 
business, that you don’t want to go into it,” he 
recounted. “But now they're trying to get into 
it themselves. That’s OJC. I just want to be 
free to negotiate with them too.” 

At one point, Mr. Turner began describing 
the ritual of female genital mutilation in some 
Muslim countries and told the audience that 
Time Warner was in some sense doing the 
same thing to him. 

He also threatened to take legal action 
against Time Warner if the two companies 
did not resolve the dispute peacefully. “I 
haven’t filed a complaint with the Justice 
Department, and I haven’t filed a complaint 
at the FCC,” be said, but added “yet.” 

Mr. Turner’s passion for a network has 
long been known. In the mid-1980s he made a 
run at CBS but was rebuffed, and the network 
was later acquired by Laurence Tisch. 


Prince Watid 
Taking Stake 
in 4 Seasons 


Bloomberg Business Nava 

TORONTO — Four Seasons 
Hotels Inc. said Tuesday that 
Prince Walid ibn Talal ibn Ab- 
dulaziz of Saudi Arabia had 
agreed to acquire 25 percent of 
tbs hotel chain, markin g the 
first step toward relinquishing 
control by the chain’s chair- 
man, Isadora Sharp. 

The agreement was valued at 
S165 million Canadian dollars 
(5122 million). 

The prince, whose holdings 
include interests in Citicorp 
and Saks Fifth Avenue, also 
agreed to pay 535 million Cana- 
dian dollars for a quarter of Mr. 
Shar p’s personal stake in Four 
Seasons and provide about 
$100 million to finance the 
company’s expansion plans. 

The agreements, valued at 522 
a share, would reduce Mr. 
Sharp’s voting interest to about 
65 parent from about 80 per- 
cent, according to H. Ro$er Gar- 
land, executive vice president of 
the luxury-hotel company. 

Mr. Sharp said the agree- 
ments with the prince “will help 
ensure access to significant cap- 
ital and accelerate our growth 
plans globally.” 

Four Seasons has 44 proper- 
ties in 19 countries, including 
recently opened hotels in Mexi- 
co City and Singapore. 


CURRENCY & INTEREST RATES 


m Rates 

* C DM. 

tan uu uv un 

I 3JJ2S SUSS ASBS 

it ISSN 140 

Co] 1 S» W** 

nun van tan 

ISS6J5 TrOSJS USUD 
r+{M — UMfl isos 
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HJB VS# BS\ 

u m LOT «" 
118 200* uau 
urn tnw urn 
uu ua 

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032*1 HIM* 
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13417 24M2 
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BUS 

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1793 

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BJF. IF. 
S4W* UB 

— tas 

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1081 WL1S1 

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3173 un 
0.1W 4.1M 
UH7 HJA 

w tosa 

ID* — 


Yen 

UBS- 

0326 

LSH* 

IMUS 

Y*U»« 

1SC1 

J8.T05 

5 » a 

1J7U- 

u»- 


Sept 27 

CS PMota 
1 36 131* 

SUBS* 
1.1487 USB* 
It Its 20271 


1,15X75 1Z13B 

UUB 12758 
W* 4.035* 
7114 07U2 

1JS1 * 

ami nm* 


Eurocurrency Deposits 


Dollar D-Mark 


Swiss 

Franc 


Sterling 


French 

Franc 


Yen 


Sept. 27 


ECU 


I month 4 HV5 4W*. 3 *w3 *v 5 *v£ T, 5 >»-S '» 2V2v. 5*vS*. 

3 months 55t-5><. 4 “V5 «. SVr-SS* 3 *v2 

imootta Sivfiv- Sfr-SU 6 ’v4 t> k et ■*» 

Irear s*vS% TYa-T^i 6 9*4:. 2V2". 6 **4 

Sources: Reuter* Lloyds Bonk, 

Rates appUcaHle la buortuxik deposits afn million minimum (er amrirrlent). 


U£ft 193051 2.1587 3M591 15V 121 £3 IJ7 19.151 

TMt 13440 UOt 4071 SI U8H UUK 1JM HOST 

Mnr York and Zurich. Rxittpt In other centers; Toronto 


eeonn; D : To bur one donor; •: Units of tCO; ft. A- not anted.- HA: not 


OttMH 1 DoRar VahiM 

Coroner- P*r8 Cummer w* 

US* none Kona* tJf* 
AWfr.HML 1MW HBOC, forfeit 

tanHrMi U4 MdtanranM 3US 

CMdiMrana JM* M*! . ■ 

DooMi km* *2? 

sawtnoona 3JK 

Pin. markka 45631 


Currency 

Men- FOB 
KZMMfld* 
Norw. krone 
PMLneso 
Polish xiotr 
Port. Kendo 
Boss, ruble 
Saadi rtrm 
Snl 


Per* 

3378 

14411 

4.7V 

« e < w 

ZSM& 

1S8jS3 

34S1J30 

17587 

1<4W5 


Currency Pars 
& air. rand 35503 
5. Kor. WHS 799.40 
Swe& krona 74? 
Taiwan* 2621 

Thai baht 2193 

TltfUsh lira 34074. 
UAH dirham 3*727 
Vuaez-BotW- 191.00 


Key Money Rates 

unwed States Close Prev. 

DfteooM role 100 4j» 

prime rote 7Vi 75* 

Federal foods 4Vs 4 

MnanlbCDs 155 155 

Comm, paper 188 dan SM 5J7 

mwi th Treason nm lo3 47e 

i-vear Treasury Mil 554 557 ■ 

Mcsr Treasury «*te UJ 4 M 

SJtear Treasury net» 722 7.1? 

7-yaar Treason note 735 722 

10-year Treasury ante 7 JO 754 

39-war Tl emin r bond 754 750 

MarrHi Lredi 3IWfay Reoev asset 109 107 


1* Iti 
2.13 213 


Britain 


Book base rote 

5%> 

SA, 

Call money 

Ski 

4 * 

l-AwoHi Intartank 

SVt 

S* 

Interbank 


S*k 

t-ftoaifi Interbank 

6V* 

6Vi 

14-Year Silt 

tw 

8.97 

Franca 



IrterimHuantfe 

550 

550 

Call money 

5 +* 

5 S 

l-mooffe friterbank 

5 * 

5 *. 

I-meatti Interbank 

S<£ 

SYi 

4-amalb latcrbank 

5»> 

5 

10-ytar OAT 

8-15 

8.14 


Discount rate 
Cad mosey 
lwiiMth interbank 
3-month bderbrn* 


2U 

2>A 


TA 

TV, 


Sources; Routers. Bloambera. Merrill 
Lrnch. Bank of Tokyo. Commerzbank. 
GntOrrtH Montoou. Credit Lyonnais. 

Gold 


Cernncr 

Canadian Attar 


30-day »day IM» 
15491 15492 154W 

97.98 m S 9750 


id Rate* 

JUtey v*«w 

me • 15735 ism i57« 

mfk 15SB 15304 15507 

1342 UBS «“* 

ua sMt tAnatonkml; tndoooar Bank tBruSeeta): Banco Cemmeretale /tettmo 
of Team fTofcvol; «ovo.- ft** of Gtaodb 

IMF (SDH7- OHttr data from Reuters and AP. 


Mnaath talertonk 

2 hi 

79. 


AM. 

PAL 

cn’se 

WJfaar Gavaranesi band 

449 

4J3 

Zurich 

3M4S 

395a 

-050 

Oermaar 



London 

394.15 

39S0O 

UnctL 

LoaKnrarale 

450 

450 

flaw York 

39830 

401.40 

+160 


cam 
i -month m icrtw* 
Xnonib In te rbank 
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w-rrerBund 


550 550 

5.W 5.10 


550 

759 


550 

753 


U5L donors ner ounce. London official fix- 
km; Zuna» ana New York a aomnp ana cfos- 
iao prices; New York COimx (December J 
Source: Reuters. 


Our Philosophy of Banking 
Goes Back 4,000 Years. 



I c was the ancient traders 
who first established 
many of today’s banking 
practices. They accepted 
funds for safekeeping. 
Bartered goods for services. 
And extended credit. It was 
a business based on trusr, 
and a handshake contract 
was binding. 

The world has changed 
immeasurably since then, 
but Republic National Bank 
still holds to the principles 


established nearly four mil- 
lennia ago. 

We believe in the primacy 
of personal relationships, the 
importance of trust and the 
protection of depositors’ 
funds. This emphasis has 
made us one of the worlds 
leading private banks. 

As a subsidiary of Saffa 
Republic Holdings S.A. and 
an affiliate of Republic New 
York Corporation, we’re part 
of a global group with more 

REPUBLIC NATIONAL BANK 
OF NEW YORK (SUISSE) SA 


than US$5 billion in capital 
and more than US$50 billion 
in assets. These assets con- 
tinue to grow substantially, 
a testament to the group’s 
strong balance sheet, risk- 
averse orientation and 
cenrury-old heritage. 

Though cuneiform tablets 
have given way to modem 
computers, the timeless 
qualities of safety, service and 
personal integrity will always 
be at the heart of our bank. 


ASAFRA BANK 


Timeless values. Traditional strength. 


HEAD OFFICE: GENEVA 1204 ■ 2. PLAC£ QU LAC - TEL . 022 1 705 55 55 ■ FOREX: 1022 > 70S 55 50 AND GENEVA 1201 ' 2. RUE DR. ALFRED-V1NCENT (CORNER 
QUAI DU MONT-BLANCi BRANCHES: LUGANO 8901 ■ I, VIA CAN OVA ■ TEL. (0911 23 85 32 ■ ZURICH 8039 • STOCK ERSTRASSE 37 ■ TEL (Oil 288 18 18 ■ 
GUERNSEY * RUE DU PRE • ST. PETER PORT * TEL 1481) 711 7GI AFFILIATE REPUBUC NATIONAL BANK OF NEW YORK IN NEW YORK OTHER LOCATIONS: 
GIBRALTAR * GUERNSEY - LONDON ■ LUXEMBOURG * MILAN - MONTE CARLO • PARIS • BEVERLY HILLS - Off HAN ISLANDS - LOS ANGELES • MEXICO CITY - MIAMI - 
MONTREAL - NASSAU - NEW YORK ■ BUENOS AIRES - CARACAS ■ MONTEVIDEO ■ PUNTA DEL ESTE ■ RIO DE JANEIRO ■ SANTIAGO ■ BEIRUT ■ BEUING - HONG KONG • 

JAKARTA • SINGAPORE ■ TAIPEI • TOKYO 



Page 14 

MARKET DIARY 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 28, 1994 


** 


Fed Inaction Gives 
Blue Chips a Lift 


Compiled by Our Staff From Dupttidta 

NEW YORK — Blue-chip 
Stock prices rose Tuesday, over- 
coming inflation worries that 
were raised by the U.S. central 
bank’s decision not to raise in- 
terest rales. Overall, however, 
the stock market was mixed. 

While the bond market took 
a beating amid fears that the 

U.S. Stogfca 

Federal Open Market Commit- 
tee's decision might allow infla- 
tion to gain momentum, the ap- 
peal of the tangible assets of 
shares appeared attractive. 

The Dow Jones industrial in- 
dex, which fell slightliy after the 
central bank said it would not 
make a rate announcement, re- 
covered to rise 13.80 points and 
close at 3.863.04. 

Although there had been no 
real consensus about the likely 
action of the Federal Reserve 
Board's policy-setting panel, 
many traders had anticipated 
that a rate increase was unlikely 
until the Fed is able to assess 
the bulk of September data. 

The U.S. bond market fol- 
lowed bond futures lower on 
apparent disappointment that 
the Fed had not taken a more 
aggressive stance in fighting in- 
flation. The benchmark 30-year 
Treasury bond fell 1 /2 point to 
96 2/32". while its yield rose to 


7.84 percent from 7.80 percent 
on Monday. 

Losers outnumbered gainers 
six to five on the Big Board and 
volume swelled to 290.33 million 
shares from 270.82 million 
shares on Monday. 

Shares of steel, chemical and 
paper companies climbed after a 
PaineWebber analyst said steel- 
makers were strengthening. Al- 
coa rose Hi to 87%, Internation- 
al Paper climbed 1% to 79, 
DuPont rose ’/* to 57% and 
Union Carbide gained % to 34%. 

Auto stocks rose after Smith 
Barney raised its ratings for the 
sector. Ford rose 1% to 27!i 
Chrysler climbed 1% to 45% and 
General Motors moved % higher 
to 47%. 

Drug stocks as host of compa- 
nies announced favorable new 
product approvals or stocks buy- 
backs. Schering Plough, which 
announced plans to buy back as 
much as $500 million of its com- 
mon stock, jumped 2 to 70 !V 
Merck rose % to 35% and Eli 
Lilly rose 1% to 57%. 

LSI Logic surged 2% to 38 
after it said it expected revenue 
from a new kind of customized 
computer chip to account for 30 
percent of total sales next year, 
double the current level. 

Baby Superstores soared over 
34% from its initial public offer- 
ing price of 18. ( AP , 

Knight-Ridder, Bloomberg ) 


MARKETS: Dollar Declines 


Continued from Page 13 
heat soon. The Conference 
Board announced this morning 
that consumer confidence fell 
for the third straight month, 
suggesting that consumers may 
not be bidding up soon the 

Foreign Exchange 

prices for the limited output of 
factories. 

Until this year, the Fed never 
issued any announcement at all 
at the end of interest-rate policy 
meetings, leaving investors to 
guess its intentions from the 
Federal Reserve Bank of New 
York's purchases and sales of 
T reasury bonds every morning. 
While the FOMC could in the- 
ory have decided on an interest- 
rate increase this morning but 
decided not to announce it, this 
seems unlikely given the strong 
support that many Fed officials 
now express privately in favor 
of announcing interest-rate in- 
creases. 

The Aug. 16 interest rate in- 
crease was the fifth this year, 
following increases on Feb. 4, 


March 22, April 18 and May 17. 
Taken together, these increases 
have pushed up the Federal 
Funds rate, which banks pay 
each other for overnight loans, 
to 4.75 percent from 3 percent. 

The Fed has also raised the 
discount rate, which banks pay 
to borrow money overnight 
from the Fed, by half a percent- 
age point on May 17 and again 
on Aug. 16. The two changes 
have increased the discount rate 
to 4 percent from 3 percent at 
the be ginning of this year. 

The doDar closed at 1.5436 
Deutsche marks in New York, 
down from 1.5536 DM, at 
98.105 yen, down from 98.750 
yen. The dollar fell to 1.2780 
Swiss francs from 1.2871 
francs, to 5.2675 French francs 
from 5.3085 francs. The pound 
dosed at $1.5798, up from 
$1.5720. 

Tuesday's meeting of the 
FOMC, whose voting members 
comprise the seven Fed gover- 
nors and five regional Federal 
Reserve Bank presidents, lasted 
for more than fours hours. The 
panel meets eight times a year. 


Vie AiwdHD P'«i 


hm 27 


The Dow 


Daily dosings of the 

Dow Jones industrial-average 



3500 


M A 
1994 


J J A S 


Dow Jones Averages 


Open High Ln L«i qio. 

IntJus 3855.77 387 ITS 3844J7 38*104 - 13 JO 
Trims 1500.10 1507 63 1«7J8 1498J4 -023 
Utfl 17717 ITaifl 17644 177.70 -040 
Comp 1284.40 1299.91 1282.54 1267.70 -3.17 


Standard ft Poor’s Indexes 


i 

: Industrials 
| Tran sjj. 
Utilities 
I Finance 
SPHW 
SP 100 


IWT 

NYSE Most Actives 


VoL Mat) 

LOW 

Last 

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3*718 27V, 

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29160 3*’s 

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10"+ 




7*923 27*- 

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23ft 

2* 

—ft 



34'/) 

35 

35ft 

—1ft 


33140 

38 

31ft 

34 V. 



32397 

5ft 





31550 

16ft 

IS 

toft 



31796 

56' i 

5*ft 

56ft 

*1 


31121 

1ft 

1 

1ft 

_ 


7BS7S 

62ft 

41 “ft 

65V: 



28189 

■ 4 





25753 

IB’.. 

16*. 

18 



23621 

14ft 

14ft 

I4ft 

•'ft 


21260 


20ft 

21ft 



i96 a* 

28ft 

27 

78ft 

1ft 


19239 24ft 

2* 

2*ft 

«. 

imiSrgs 





— 


AMEX Most Actives 



VOL HWI 

Low 

Lost 

dig. 


26264 37 

36', 

37 

-ft 


8864 41'/,. 

4'i 

4 ' I'M 

+ ft 


7490 14 

13'v 

14 

-'1 

US AiC 

5750 4ft 

Sft 

4V„ 

-ft. 


5139 2ft 


2ft 

-ft 



1 

)'/,, 



4848 22ft 

21ft 

22 ft 

—ft 


4795 46' ft. 

46 

46'ft 



4472 4ft 

4’6, 



ChevSffs 

4470 10ft 

9ft 

10ft 

-A* 


Market Sell 

•S 


Commodify 

Today 

Prev. 

NYSE 

AlMX 

Nasdoo 

In millions- 

Today 

Close 

290X3 

1876 

25030 

Prev. 

cons. 

335.73 

1*99 

25046 

Aluminum, to 

Copper electrolytic, lb 
Iran fob. Ion 

Lead, lb 

Sllvar, troy m 

1 staet (scrap), ton 

1 Tin, lb 
| Zinc, lb 

U2 

21 1X0 

oxo 

5X45 

117X0 

05469 

05145 

129 

213X0 

0*0 

5X7 

117X0 

3X77 

0504 


Hlfh 
5*749 
Ml SI 
15140 
43X1 
*4175 
430.12 


Law Clou 

544.01 544.92 
J5&X7 341 17 
15070 15277 
4323 4359 
459X3 44205 
477,08 479.52 


arse 
+ 1X3 
+ 276 
+ 1X6 
— 0.17 
+ 123 
+ 1.60 


NYSE Indexes 


HMi Law Last dig. 

Com oo»i le 255.30 253.92 354.87 -0 48 

Industrials 320719 318.34 319X9 -0.69 

Trarsn. 332 J7 220.56 232.17 -141 

Utility 204.48 20281 204.34 -172 

Finance 307 06 205.83 205.95 -0 73 


NASDAQ Indexes 


High Law Last Oig. 

Com penile 756.05 753.89 75450 —0 83 

Industrials 766.57 763.70 764X5 —0 55 

Bonus 771.72 769.40 770.45 — 1JI 

Insurance 93422 978 67 929X9 —164 

Finance 937.23 tt*2B *3456 —3 95 

Tronic. 711.23 708.32 709.69 —2 85 


AMEX Stock Index 


High Low Last Chg. 
453.81 4S2.21 453.43 -0J6 


Dow Jones Bond Averages 


20 Bonds 
10 Utilities 
10 Industrials 


Close cn'ge 

97319 — 003 

9265 +0.19 

10164 —025 


NYSE Diary 


Advonced 
Declined 
Unchanged 
Total issues 
New Highs 
New Lows 


1017 

982 

1170 

1153 

713 

729 

7895 

2864 

3* 

24 

123 

179 


AMEX Diary 


Advanced 

343 

743 

Declined 

299 

320 

Unchanged 

24* 

227 

Torn! issues 

906 

789 

New Highs 

13 

6 

New Lows 

30 

30 


NASDAQ Diary 


Advanced 
Declined 
Unchanged 
Total issues 
New Highs 
New Lows 


1466 1406 

1610 1730 

7U09 1934 

5015 5078 

75 05 

75 74 


Spot Commodities 


EUROPEAN FUTURES 


Metals 


Pr e vio us 
Bid A] 


Clou 

Bid Ask 
ALUMINUM (High Geode) 

Dollars per metric too 
Spat 158200 158L00 1583X0 158*50 

Forward 1607.00 1608.00 1607.00 1608310 

COPPER CATHODES IHlgb Grade) 

Dollars per metric fon 
Spot 2544310 2545310 2553J0 255400 

Forward 7SS6.D0 255700 361-50 2542330 

LEAD 

Dollars pgr metric too 
EPOt 616X0 619.00 41S-J0 619X0 

Forward 63250 *33.00 63200 63300 

NICKEL 

□altars per metric too 
Snot 638000 638500 *42500 643000 

Forward 6483.00 648100 657100 653000 

TIN 

Delian per metric tee 
spot 534530 535300 5377310 538200 

Forward 543CLM WUO 54S5X0 546000 

ZINC (SPttitd High Grade) 

DoHars Per medic tan 

Spot 1 DOT-50 1003-50 1021.50 103250 

Forward 102450 102750 104450 104500 


Financial 

High Low Close Change 
3-MONTH STERLING (LIFFE) 

000X00- pH « 180 PCI 

Sec *1.99 9X14 9X79 Unch. 

Ma- 9230 9222 9227 — CJl 

Jdq 9152 9155 *1-59 “C.M 

See 9120 41.13 91.16 — OJQ 

Dee 9288 90X2 9055 — 03E 

htar MU7 9052 90*4 -CUE 

jSi 9053 9050 9051 -0.02 

Sep 9043 9240 90X1 — 0-01 

Dec 9035 9070 9072 -OQ1 

90-29 9tL2S 903? — 03)1 

jtm 9030 90.17 9020 unen. 

Sep 90.17 9X17 9008 -002 

Est. volume: 37,738. Open Int.: 490341. 
3-MONTH EURODOLLARS (LIFFE) 

SI mlBlen-pHef iHpct 
Dec N.T. N.T. 9410 —0371 

Mar N.T. N.T. 9X74 -Q.Q1 

Jim N.T. N.T. 9138 —03)1 

See N-T. n.t. 9X10 Unch. 

Est. volume: 0 Open Ini.; 1795. 

3-MONTH EUROMARKS (LIFFE) 

OMl minion -Pis of I teed 
Dec 94-71 9468 9470 — 03)1 

Mar 9432 947S 9430 —0312 

Jon 7191 9X87 9190 - 0J32 

sen 9353 9357 9354 —OJO 

Dec 9336 9332 9135 —052 

Mcr 9104 9X00 933)3 — 0.02 

Jan 9283 9280 9283 — Q3TI 

Sep 9286 9243 9246 — 0-01 

9250 9250 9250 -g# 

Mar N.T. N.T. 9278 —051 

JUO 92H 9222 7233 —052 

sea 9210 9210 92-04 —0322 

Est. volume: 52195. Open Ini.: 693.901. 
3-MONTH PI BOR (MAT IF) 

FPS mllltoo - eft of 100 pd 
Dec 94,04 94JE 9405 —032 

Mar 9357 9X54 9357 — 03)1 

Jen 9127 9X13 9X16 -OK 

Sea 9286 9282 9284 — 0JH 

Dec 9259 9255 9257 —0.03 

9236 9232 9235 -Ml 

Jon 9216 92.12 9216 —03)1 

Sep 9204 9159 9283 —081 

LONG SILT (LIFFE) 

OAOM • pH ft 32nds of IM pet 
S8P 99-25 90-17 9+26 —004 

DM 99 -06 98-22 99-01 -M3 

MOT H.T. N.T. 9B-13 —M3 

Est. volume: 31,962 Open Int.r 109,979. 
GERMAN GOVERNMENT BUND (LIFFE) 
DM25M08-p»ofl08pct 
DOC 8985 BBJ2 8980 +088 

Mar SSJ0 B8.13 8BJ2 +086 

Est. volume; 60004 Open lnt_- 144467. 

18- TEAR FRENCH GOV. BONDS (MAT1F) 
f Fsooaeo - ph of »• act 
Dec 110.70 110.44 11046 —086 

M«- 10952 10986 109.92 - 03)6 

Jun 109.16 1 09.16 1 0930 —0.08 

Sep N.T. N-T. N.T. Unch. 

Eit. volume: 82824 Open Ml.: 136831. 


Industrials 

Hleh Law Lott Settle Cbtoe 
GASOIL (IPE) 

U5. dollars per medic ton-lots otioe ton 
OCt 15050 14980 14950 14985 —225 

Nov 15350 152-00 IS200 1523)0 —250 

DOC 15425 15450 15450 15475 — 250 

Jem 157.75 15475 157J» 157J0 —225 

Feb 15X75 157J5 15425 15425 — 1 J5 


HWi Low Last Settle Clrtje 

Mar 15450 15400 15425 15435 — 1JS 

Apr 15750 1573)0 15730 15780 — 175 

Mar 15780 15780 15780 15X75 —175 

Jooe IS475 15475 1S475 15475 —225 

July XT. N.T. XT. 15450 — US 

Est. volume: 1X830 . Open im. 104988 


BRENT CRUDE OIL (IPE) 

113. dollars per BamHen at 1869 barrels 


Hav 

1*60 

1*33 

1*37 

1*37 

-01* 

Dec 

16J3 

1*47 

16X4 

1*53 

— 009 

Jae 

1*80 

16X6 

1*64 

1*66 

—OK 

Feb 

1*73 

1*63 

1*67 

16X7 

+ 0X1 

Mar 

I6J5 

16-59 

1670 

1*66 

+ 0X1 

Apr 

1*68 

16X8 

1*68 

16X8 

+ 002 

May 

1*68 

MX8 

16X8 

1*70 

+ OB2 

Jun 

N.T. 

N.T. 

N.T. 

1*72 

+ 002 

JIV 

N.T. 

N.T. 

N.T. 

1*74 

+ 0JC 

An 

N.T. 

N.T. 

N.T. 

1*76 

+ 082 

Sep 

N-T. 

N.T, 

N.T. 

1*78 

+ 002 

Oct 

N.T. 

N.T. 

N-T. 

1*00 

+ 0X2 

Es). volume: 32X83. 

Open ini. 137X12 


Stock Indexes 

HM Low Close Chong* 
FTSE 108 (LIFFE) 

OS per Index potet 

Doc 30308 30008 30188 +98 

Mcr 303X5 30345 30414 +B8 

■ Ett. volume: 10X24 Open Int.r 53763. 

CAC 48 (MAT IF) 

FF2D0 oer Index point 

Sep 19143)0 189680 189400 Unch. 

Oct 192180 190280 190440 — OlSO 

N«V 192840 192840 191150 UncA 

Dec 193880 192080 192380 —030 

Mar 196280 196280 194940 —040 

Jun 195640 195240 194080 — IS) 

est. volume: 35730. Open tat.; 6X739. 

Sources: Mam. Associated Press, 
London Inti Financial FWwws Exchenot. 
Inn Petroleum Exchange. 


Dividends 


Company 

IRREGULAR 

Bay Apartment - -38 

CRHPLCADR C 8707 

c-approx amount per share. 

STOCK 


Per Ami Roc Pay 


10-7 10-T7 
9-29 1027 


_ 5 *6 10-15 1021 
.10% 10-14 1021 
_ 15 % 10-25 11-16 


Charter Beads 
Fstcttlzen Bncstk 
Genl Emp Enterp 

REVERSE STOCK SPLIT 
Stella Bello 1 far ID reverse spill; record h 
pay dales unannounced. 

LIQUIDATING 

Meridian PtRTr82 _ .189 10-14 10-21 

INCREASED 

Commcl Assets Q .M 102 10-12 

CORRECTION 

EastGraup Prop d AS 11-18 T2-2 

Rochester Gas&EI e M 10-6 10-25 

d-correctlng amount increased. 

•-revised record date 

REDUCED 

Rockotoller Center Q 

New Mil Bep Inc 

REGULAR 
Q 


.15 10-11 1021 
JS 10-7 10-21 


Bay View Cap 
Broad Nfl BrtCP 
Center! or Energy 
Central MoItw Pwr 
Charter Bcshs 
DUneyWalt 
Fst Home SvgsBk 
Food Lion A 
FOOd Lion B 
Hawaii Indus 
Hyperion Total Ret 
Jefferson Bkshs 
Lorn) Coro 
Midwest Fed! 

Ohio Art 
Petrie Stores 
Phoenix CA TxEx 
Phoenix Tx EX 
TronsAtianttcHId 
WA Fed I 5 vas 
Werner Enterprise 


.15 10-14 10-28 
82 10-7 10-14 
80 10-21 11-15 
825 10-10 1021 
86 102 10-14 
873 ID-14 11-18 
.10 10-17 112 

am lo-io io-24 
am lo-io 10-24 

85 10-19 11-14 
88 10-4 10-14 
.17 10-7 1021 
.15 11-M IMS 

3B5 920 10-21 

86 10-10 11-7 
86 10-7 10-Z1 

9- 26 926 
926 926 
12-6 12-20 

10 - 6 10-21 
197 1024 


3)63 
3B 
JO 9 
il 
825 


Muiiali 0-poyaMe la Canadian foods; m- 
moothty; oeifl f i s+omFommal 


SEC Says Funds Should Be Wary of Derivatives 


Bloomberg Business News 

WASHINGTON — The Securities and 
Exchange Commission recommended 
Tuesday a series of steps mutual funds 
should take to better disclose what deriva- 
tive securities the funds are holding and 
the inherent risks tied to such securities. 

The SEC said mutual funds should be 
forced to limit their investments in so- 
called illiquid securities to 10 percent of 
their portfolios, down from a current limit 
of 15 percent. 


Many illiquid securities now held by 
U.S. funds are derivatives, which are in- 
vestments with values tied to the prices of 
other assets. They are considered illiquid 
because they are highly customized and 
difficult to trade. 

The SEC chairman, Arthur Levitt Jr„ 
who presented his proposals in a report to 
a House subcommittee, is not recommend- 
ing congressional action other than autho- 
rizing more SEC staffers to monitor mutu- 
al funds. The SEC already has the 


authority to act on its own to put into 
effect some of the changes Mr. Levitt is 
proposing. 

■ Denver Money Fond Is liquidated 

A small mutual fund is folding after 
substantial losses from derivatives, appar- 
ently the first to liquidate because of these 
complex investments, the Securities and 
Exchange Commission said Tuesday, ac- 
cording to an Associated Press report from 
Washington. 



MW i 

! /AT THE 

c 

LOSE 



•to 

$ 

■ 

■ 

1 

i 

. 1 


C o ns umer Confidence Falling Away 

NEW YOBX W-MSS 2ZESS3L 

m oomin8 

months, the Conference Board households 

The research group's monthly survey 

also showed fewer respondents £ w results fell 

tember than in August- An index denyed from stavw an< j 
to 88.4 in September, down from 90.4 in August 91 J in y 

92 Th?ilSw is watched by financial markets as an indicator of 
^rr^g ^or H S,n« co* 
spending is the largest component of the gross dMaegc proa it 
fcSU exanunesurvey results to get M 

the economy and interest rates are headed. A drop m consumer 
confidence can be interpreted as a sign of slower economic 
growth, and in turn, stable interest rates. 

Auto Workers Hit GM With Strike 

FLINT, Michigan, (Bloomberg) —About 11,500 United Auw 
Workers walked out of General Motors Core, s BmckCdy rom- 
piex Tuesday in a move that could shut down production at 
assembly operations and cost GM millions of dollars a day. • 
Company and union negotiators will return to the bargaining 
table on Wednesday. They had already 

were still were far apart on differences over soffiog S5 
health and safety matters. The employees said GM should hire 
more staff because their health is suffering from bavmg to work 
too much overtime. GM executives said the strike would damage 
its production capability. 


US prUUULUUU 

Ford Appoints Top Financial Officer 

NEW YORK (Knight-Ridder) — Ford Motor Co. said Tues- 
day that John Devine would succeed Stanley Seneker as the 
company’s chief financial officer. Mr. Devine is currently corpo- 
rate controller. ■ , 

The company said Mr. Seneker would leave the top financial 
post on Oct. 1 and be involved in strategic planning until ms 
retirement. Mr. Devine had been chief execuuve of Ford s First 
Nationwide Bank unit until he was appointed controller in June. 

Upjohn Ends Deal With Sumitomo 

NEW YORK (Knight-Ridder) — Upjohn Co. said Tuesday it 
would dissolve a 35-year-old joint venture with Sumitomo Chemi- 
cal Co. by Nov. 30, becoming the full owner of Japan Upjohn Ltd. 

The venture, set up in 1959, markets and sdls Upjohn products 
in Japan. Its shares are currently owned 55 percent by Upjohn and 
45 percent by Sumitomo Chemical. . 

“We have discussed our desires with Sumitomo Chemical, and 
together, we have reached an amicable agreement. _We are also 
pleased that Sumitomo Pharmaceutical Co. will continue to man- 
ufacture our products and perform physical distribution for us in 
Japan," John Zabriskie, Upjohn ’s chief executive said. 

AIG Will Invest in Troubled Insurer 

NEW YORK (Bloomberg) — American International Group 
Inc. plans to invest $216 milli on in 20th Century Industries and 
help the company expand its low-cost auto insurance program 
throughout the U.S. 

The bailout represents a dramatic turn for California-based 
20th Century, which last month said it was considering all options 
to keep itself in business. Almost two-thirds of 20 in Century's 
capital was wiped out by claims stemming from the earthquake 
near downtown Los Angeles on Jan. 17. 

American International said it would also provide 20th Century 
with reinsurance coverage on parts of its business. 

For the Record 

NBC, the television network owned by General Electric Corp., 
has filed a petition with the Federal Communications Commis- 
sion. that claims Fox Broadcasting Co., a unit of News Corp., 
improperly set up a corporation to gain control of a Wisconsin 
television station. (NYT) 

American Bfnnds Inc. promoted Thomas C. Hays to chairman 
and chief executive. He wilt replace William J. Alley, who is 
retiring, on Jan. 1. f Bloomberg ) 

Great' Adantic'& Pacific Tea Col, operator of thc AStFsliper- 
markel chain, said second-quarter net income rose 1.7 percent to 
$6.06 million. Revenue in the quarter ended fell slightly to $2.39 
billion from $2.4 billion. (Bloomberg) 


WORLD STOCK MARKETS 


Ayoncfl Franco PrtHi Sept, 27 

ClaogPrev. 


Amsterdam 

ABN Amro HM 57.10 57 

ACF Holding 38 37 JO 
Aegon 99.40 10180 

Aftold 4980 49 

A taro Nobel 20380 20480 
AMEV 70X0 7040 

BOH-Weaanen 3380 3340 
C5M 65.90 66 

OSM 15140 141 JO 

Elsovlor 163 162 

FoUwr 15J0 1540 

GW- Brocades 4U0 44.10 
HBG 392 29440 

Heinefcetl 23880 23680 

Hoogoveni 77.90 78.10 
Hunter Oougkn 7680 76 

IHC Coland 42X0 43 

Inter Mueller 92 92X0 
inn Nederland 74.70 74jo 
KLM 46X0 47X0 

KNP BT 51X0 51.10 

KPN 51.90 52X0 

Nodllovd 58J0 58.40 

Oce Grinten *9X0 70ja 
Pahhoed 44*0 45X0 

Philim 54 54 

Polygram 75.10 7580 
Pcbeeo lliao 114.10 

Roaamca 5ixo sijo 

Politico 116X0 117.90 

Boren ta BUO C 2X0 

Rorai Dutch 185.90 186X0 
5I0»k 4120 *4X0 

Unilever 19640 19440 

VonOaimeren 46X0 46X0 
VNU 19080 191X0 

Wolters. 1 Kluwer 119x0 1I7J0 
EOE Index 24MX6 
Prey low : *09.47 


Brussels 


AG Fin 

AJmatill 

Arted 

Borco 

BBL 

Befcaerl 

CBR 

CMP 

CNR 

COCl Mill 

Cobepo 

Coitvii 

DeinaJie 

Elect rabel 

Eicctrallna 

GIB 

GBL 

Gevoert 

Glove rtael 

immoDd 

Kredietbanli 

Maunr 

Pel rot I na 

Ponertin 

Pedicel 

P ovale Beige 

SocGeti Bona uc 


2550 2575 
7610 7630 
4770 4500 

7525 2530 

4040 4040 

23175 23950 

12100 17100 

2495 24*0 

1940 1950 

199 200 

5400 5420 
7390 7430 
1262 1256 

5320 5300 

2*10 2925 
1366 1370 
4000 4015 
8990 9020 
4280 4430 
7*30 2*60 
6270 6250 
1450 1440 
9940 9940 

2740 2780 

510 490 

4670 *680 

r — 7BW 7890 

5oc Gen Betelowe 2ies 2200 


Sodno 

5dvgv 

Teueoderlo 

Tract ebd 
UCB 

Union Mini ere 
Wagons LIH 


13350 13425 

14200 14150 
10100 10100 

9550 9440 
7*000 24000 
2685 2700 
| 6690 7D4Q 
: 7791X4 


Frankfurt 


AEG 

Alcatel SEL 

Alliaru How 

Altana 

Asfeo 

BASF 

Barer 

Bav. Hypo boo* 


1S6J0 15880 
301 301 

2355 2342 
632X0 625 

860 853 
305 40 307 JO 
35335170 

383 3*9 


Bar veretinbk 42U0 432 


BBC 

BHF Bank 

BMW . _ 

Coftimenbanh 3D8J0 312 

Canllnentol MJ 233 

Daimler Benz 
OMwsa 
Dt Booceek 
DevlKtlC Bank 687 JO 67250 
Douglas 502 508 

Dresdner Bank 39339L50 
FddmueMr 302 302 

F KruMHoesdi HMJOUO 


703 702 

381 380 

77150 781 


767 771 
47* 478 
23750 239 


Horaener 

Henkel 

Hacnilei 

Hoecm? 

Holzmonn 

Horten 

tWKA 

Kail Sail 
Karstoal 
Koulhal 
KHO 


330 332 

567X0 577 

99* 995 
331 JO 336 
9M 910 
215 215 

336 353 
1*550147X0 
S99607J0 
503 SO* 
129 JO 129,70 


Kloeckrter worke 14050 143 


Linde 
Luftnanja 
MAN 

Mannevnann 

MetaUgetetl 

MwnctiRuech 

Porscfw 

Preufsa® 

PWA 

RWE 


891 Ml 
186 188 
*0240150 
39250 195 

1185013320 
2720 2745 
680 6*6 
*5445650 
242 242 
443 462 


„ 

CkMf Prev. 

Rhein metail 

298 

301 

Schering 

947 

940 

Siemens 

653X0 

651 

Ttivssm) 

294.10 

294 

Varta 

318 

320 

Vi Da 

p<7n 

530 

VEW 

377 

346 

Volkswagen 

409491X0 

45*80456X8 

Wefta 

103S 

1030 


Helslnld 


A mer+ Ytitymo 

106 

IQS 

Enso-Gurzelt 

45.10 45X0 

Humamakl 

144 

143 

leap. 

1030 

10X0 

Kymmene 

136 

138 

Metro 

150 

155 

Nokia 

55* 

550 

Pahlolo 

65 

65 

Reoolc 

103 

183 

Stockmann 

250 

2*4 

xs&rvssr--'" 1 * 


Hong Kong 

Bk6w t_A8lg 33X0 33X0 
Cadlav Paclllc 12X5 1360 
Cheung Kong 3820 38X0 
Oi Ino Light Pwr 39 JO 39.40 
Dairy Form mn iaae lexs 
Hong Lung Dev 14X0 1450 
Han g Seng Bank 5450 5450 
He noe nc nLona 47X0 *820 
US Air Eng. 35x0 OSJO 
HK China Gas 14X0 14X5 
HK Electric 26J1S 7*19 
HK Land l?J5 19X0 

HK Realty Trust 20 20.W 
HSBCHoldlnga 8750 8850 
HKShongHIb 11.70 11 JO 
HK Telecomm 1550 1**5 
HK Ferry 11X0 ms 

Hutch Whampoa 37J0 3750 
Hyson Dev 72JS 23 

JardliKMom. 65 *<7^ 
Jarame Str hu 31 mo 
Kawtpan Motor 15LS0 15.70 
Mandarin Orient 9^5 9J5 
{“'■""•-.HOW J8J0 19.10 
New World Dev 37 

SHK Proas - 58 5825 

Stehix 122 120 

SwIraPae A 6150 6135 
TolOwuna Pros 10.90 11 .id 
TVE 4JJ8 4.10 

wnarf Hold 3ixo 32.1a 
W he* lock Co 16.95 17 

Wine On Co Mil 11X5 tub 
W lmor ind. 10.70 1055 


Johannesburg 


ASCI 
Airecti 
Anglo Amor 
Barlows 
Btyvoor 

De Beers 

Drlefonfeln 

Gencar 

GFSA 

Narmenr 

HlghveM Steel 

Kloof 

Neeeank Grp 
Randlanfoln 
Rujplct 
5A Brews 
SI Heteaa 
Saiol 

: Western Deep 


2955 29 

121 121 
235 241 
2853 2950 
11 1150 
57 60 

« 1D1 

60 71 

1175 1*25 
123 127 

42 <2 

72 75 

3050 3150 
5650 56 

117 121 
7925 81 

4725 NJL 
3350 35 

215 220 

5534X5 


London 


Abbey Nan 

3X4 

3X* 

Atlted Lyons 

5X9 

570 

Aria Wtogins 

265 

3X* 

Argyll Group 

2X5 

2X5 

ASS Brit Foods 

107 

5.15 

BAA 

478 

476 

BAe 

4X7 

4X4 

Bank Scotland 

2X1 

2J2 


5.60 

un 


5.14 

521 

BAT 

4.10 

*13 

BET 

1X3 

1X4 

11 

3X5 

276 


6X4 

*96 

aggts 

SJ1 

SJO 


4X3 

4X2 

BP 

3.79 

4 

8ril Airways 

3X5 

170 


190 

2X2 

Srfl Steel 

1X5 

1X3 


370 

3X7 

STR 

3.10 

3.12 

Abie Wire 

4 

4 


*55 

4X6 


278 

375 

(Xotsviveito 

1.98 

1.97 


4.98 

4XJ 


4X4 

*52 

•CC Grave 

163 

3X4 

Enterprise Oil 

3X7 

3X1 


Eurotunnel 

Fbons 

Forte 

GEC 

Genl Acc 

Glaxo 

Grand Met 

GRE 

Guinness 

GUS 

Hanson 

HUlsdown 

HSBC HKhrs 

1CI 

Inchcope 
Klnafliher 
Lodbroke 
Land Sec 
Lo parte 
Lasma 

Lego) Gen Grp 
Uovds Bonk 

Marks Sp 
MEPC 
Natl Power 


NthWst Water 


P40 
PUklnyton 
PowerGen 
Prudential 
Rank Ora 

ReckntCol 

Redland 
Reed Inti 
Revdors 
BMC Group 
Rolls Rorce 
R othmn (unit) 
Royal Scot 
RTI 

Salnsburv 
Scat Newcas 

Scot Power 

Sears 

Severn Trent 
Shell 


Smith Neehew 

SndthKHne B 

Smlhi (WH) 

Sun Alliance 
Tate & Lvle 

TOSCO 

Thorn EMI 
Tomkins 
TSB Group 
Unilever 
Utd Biscuits 
Vodafone 
War Loan 3W 
Wellcome 
wnhoreoa 
Williams Hdgs 

WlinsCorroan 
FTDQhiaeit . 

leus: 


Cine Prev. 

155 

1.15 


2.15 

210 

2X1 

2X4 

5X9 

544 

573 

57D 

4X3 

4 

1X3 

179 

4XD 

*51 

5X9 

5X6 

274 

231 

177 

175 

7.16 

7.17 

8X5 

*1? 

4X3 

4-06 

4X1 

*82 

1X0 

1X7 

*17 

*13 

773 

730 

1X1 

1X0 

4X1 

475 

S.4Q 

576 

4JM 

*04 

*44 

4X0 

*45 

*47 

472 

*76 

57S 

570 

574 

5X7 

670 

672 

1X6 

1X4 

5.10 

512 

3JM 

197 

4X5 

4J* 

5X3 

5X7 

5.12 

511 

7X3 

775 

*69 

*66 

972 

923 

1X2 

1-73 

4X6 

*11 

470 

*24 

8X4 

8X3 

3X4 

190 

*92 

*93 

37? 

3.78 

1J6 

1X7 

579 

572 

6X8 

*93 

5X0 

5X9 

1X5 

1X5 

472 

*22 

4X5 

*54 

370 

no 

473 

*22 

271 

■ L 1 

9.96 

B ll 

2.10 


210 

210 

10X9 

10.93 

3.12 

3J34 

1XS 

1X4 

39X1 

40.13 

676 

6J5 

S73 

575 

376 

125 

1X7 

1X9 


Madrid 

BBV 3210 3200 

Bco Central Hlsp. 2875 2855 

Bonce Sontonder 5100 5130 

Eonesto 99a 9«8 

CEPSA 3185 31M 

0»WM 1925 1935 

Endesa 5490 5460 

Brays 168 170 

loerdrala 82* 833 

Rmaf 3865 3825 

BBSS’ DS SS 


Milan 

Alleana 17180 1665D 

ACSltalla 13960 13560 

Autostrada priv 1859 I82S 
Bca ABricelnira 2650 27K) 
Ba Common to! 3965 39S 
Bat Naz Lnvoro 13280 13200 
BCD POP Novara 7710 8290 
Bancadl Pome 1635 1810 
Bco Ambrasiano 4340 4230 
BcoNfipalirtse 1340 13*9 
Benetton 2)900 21300 

Credits Italian 2215 2195 
Entchem Aug 3050 xso 
Ferfln 1M1 i«3 

Flat 800 6785 6485 

Flnanz Agrabia 10990 10900 
Finmeccanica MjO 1610 
Fendtark) spa 

Generali Aisle 

IFIL 


■taicementl 

1 taigas 

Mealetanca 

Marnadban 

Olivetti 

Pirelli spa 

RAS 

RlrtosCmlo 


11670 11330 

40200 39*00 

6083 5900 
11680 11545 
5535 5425 
14175 13740 
1409 1390 

2080 2055 
2630 2505 
25400 24900 
9350 9300 


Son Paolo Torino 9*10 *270 
SIP 4440 4325 

SME 3930 3925 

SnUDPd 2285 2255 

StandD 3505033000 

Sl«t 4750 4620 

Toro Ante 27700 J695B 

MIB Te l e mat lea: 10947 
Previous : 1175* 


Close Prev. 


Montreal 

AtcoLtd I 1348 1» 

Bonk Montreal 23*h 233k 
BCE Mobile Corn 38T* 38% 


Cdn Tire A 
Cdn Util A 


Crawnx Inc 
CT FlnlSvc 
Gaz Metro 
GIWestLHeco 

imir 


11U HU, 
23W 225k 
8V4 8% 

17 16W 
17% 17V. 
12ft 12W 
20 201 * 
13ft 13ft 


Hudson's Boy Co 27** 2 7ft 
Imasco Ltd £Vi 27V. 

Investors Grp Inc 17ft 16ft 
Labatt (John) 21ft 21ft 
Loblaw Cos 21ft 
Molson A 2fP* 

Natl Bk Canodc 9 
Oshowa A 19ft 

Potcdn Petrol tn 42U 
Power Corn 19ft 

Ffm 28ft 


28 27ft 
7ft 7ft 
43ft 44ft 
16ft 16ft 
Sft I 
3X5 3 
T938J8 


Rogers Comm 8 
Rovai BkCda 
Sears Canada Inc 
Shell Cda A 
Souttram Inc 
St el co a 
T riton Flnl A 

KSW/ESf 


Parts 








V * iiT - ii 




T * 1 * ' 

1 (« /■ 





| p ' t 






» • ' . , 1 


ft , 







Irlrri ' 

e , 

















r . iL’i 





Lafarge Ceppee CTJH 427.10 
Leg rood 6790 6630 

Lyon. Eoux 478J0 482J0 
OraaKL'l 1103 1123 

L.VJ1AH. 85) 858 

Matra-Hochette 10*50 106 


MJchelln 8 
Moulinex 
Paribas 
Pecnlnev inH 

Pernod-Rlcord 

Peugeol 
Plnaull Print 
Radtatechnlaue 
Rn-Poulenc A 
Raff. Sf. Louis 
Sonafl 

Saint Gofcaln 

S.EJ. 

Sts Generate 
Suez 

ThorraorvCSF 

Tofol 

UJLP. 

Valeo 


2I8J0 216 

120 T22X0 
327X0 322X0 
145.10 1*7 

300 301 

772 793 

918 *18 

525 513 

124X0 12X80 
1388 1396 
238JQ 957 

639 644 

530 530 
S3* 535 

23*80 250 JO 
139 137 

320 321X0 
133J0 13X20 
281 281 


pAC-40 to dexA LW128 


l : 190X72 


Sao Paulo 


Banco aa Brasil 

19.90 19X0 

Btotospa 

971 


Bradesco 

7.90 

■ 

Brahma 

260 

250 

Cento 

83 

B3 

Etetrabras 

359 

373 

Hautanca 

275 

275 

LltM 

313X0 

320! 

PofooQ&orwmg 

1279 


Petrabras 

1S4 

185 

Seuxa Cruz 

7550 

7600 

Telebm 

S0JD 

51 

Teteip 

456 

470 

Usiminas 

ixa 

172 

Vale Rio Dace 

16716*01 

Varta 

155 

155 

fcSgSTSfc 

52175 



Singapore 

Asia Poc Brew isJo ltso 
Cerabas 8.15 sjs 

CKy DevPlODinnt 7 JO 7X 
Cvcte& carriage I2J0 11*0 
DBS 10J0 10.90 

DBS Land *58 *«6 

FE Levlngstan 6J5 6.15 
Fraser & Neave 16.70 IbSq 
Gl Eastn Life 27 JO 27 JO 
Haag Leans Fin *30 *32 
mchcape 55Q 5J5 

Jurang Shipyard 1X30 1X50 
Kay Hhm JGanel 213 XOS 
Keppef 
Naweei 
Heptane Or leal 
OCBCtaretan 
omas unton Bk 
Union Err 


SI me Shu 


11 JO 11.78 
X2B 124 
224 Z24 
1X90 1430 
6X0 6X5 
8L25 830 
11 1130 
107 1J7 


Close Prev. 
Stag Aerospace 233 23* 
Sing Airlines fora 1* 1*30 
Sing Bus Svc 9X0 935 
Sing Land 8J5 8.75 

Sing Peflm 2X6 2X7 

Sing Press tom 2X70 26 

Sing ShtatHOg 2x1 2x2 
Sing Telecomm 32* 328 
Strolls Steam *72 *3* 
Straits Trading 3X2 3X0 
Tat Lee Bank 4X6 4X8 
Utd Industrial 1X9 1X1 
Utd OleaBk fora 14X0 1*80 
Utd Otoeas Land 2X8 2X8 
|tra(tsjn^^todex: 2289X4 


j Stockholm 


AGA 

67X0 

67 

Asea A 

563 

562 

Astra A 

IBC 

180 

Atlas Copco 

9/XC 

97 

Electrolux B 

362 

362 

Ericsson 

JW 

403 

Essette-A 

94X0 93X0 

Handel sban ken 

92 

93 

Investor B 

i n 

167 

Norsk Hydro 

341X0 239X0 

Procardia AF 

132 

131 

Sandvfk B 

112 

113 

SCA-A 

118 

117 

S-EBanken 

4*50 4*70 

SkandloF 

126 

127 

Skonska 

150 

150 

SKF 

131 

130 

Slora 

427 

431 

Trellebcrg BF 

103 

101 

Volvo BF 

136 

133 

PrevnasTinua 


Sydney 



8X8 

B.95 

AN2 

189 

190 

BHP 

19X0 

19X2 


3X1 

378 

BougalnvIUe 

1X2 

1X5 

Cotes Myer 

4X7 

4J5 


570 

576 

CRA 

1BX0 

18X6 

CSR 

*51 

*57 

Fosters Brew 

1.11 

1.11 

Goodman Fteto 

177 

171 

ICl Australia 

ID 9? 

1044 

Mage lion 

1X5 

1XS 

MIM 

276 

2X4 


HUM 

1070 


873 

SJO 




N Broken Hill 

3X6 

3X8 


*15 





Nmndv Poserdon 

263 

2X5 

OCT Resources 

1X5 

373 

1X7 

177 

TNT 

273 

277 


758 

1*2 

westsac Bantam 

*16 

*23 

Wocdslde 

*57 

4X5 

ARO^^k-toxttonx, 

I Tokyo 


Akoi Etoctr 

435 

429 

Asohl Chemical 

778 

tu 

Asani Gtasa 

1210 


II — H 


"l 

II '■ / i’M 

id 

y 


1740 

u: 

Costa 

1210 

v 1 


■ n t 1 

Si 


■ } 1 

y 


■ t* ■ 



4500 

t+' 

Full Sank 

2070 


Fun Photo 

2230 

,7* 

Fuiffsu 

IU49 


Hitachi 

955 


HHochl Cable 




1600 

, 

ltoYokado 

5260 


Itochu 

095 

£ 

Japan Airlines 

7*5 

£+• 

Kallma 

996 

ul 

Kansel Power 

5450 


Kawasaki Steel 

432 

rrr 

ICirln Brewery 

ll«0 

1150 

Komatsu 

B89 

902 

Kubota 

703 


Kyocera 

7080 

7100 

Matsu Elec Inds 

1600 

1640 

Matsu Elec Wks 

■FT'I 

n 

Mitsubishi Bk 

2*50 

2*50 

Mitsubishi Kasel 

530 

MO 

I I ■ 

609 

702 


752 

76? 


1230 


Mitsui and Co 

*11 


Mitsui Marine 

750 


Mltsufcostii 



Mitsumi 

1310 

1400 

NEC 

1170 


NGK Insulators 

1010 

1020 

Hjkko Securities 

11X 

1100 

Mbaon Kagaku 

9)4 


Nlaoon Oil 

687 

707 

Ntotxtn Steel 

SBS 



615 


Nissan 

786 


Nomura Sec 

2060 

2100 

NTT 8840a n70a 

CHvmaus Optical 

iT^l 

1060 

Pioneer 



Ricoh 

923 


Sanyo Elec 



Sharp 

1740 

1760 ■ 


Close Prev. 
Shimazu 714 720 

SNnetsuQiem 2070 2090 
Sony 5800 5870 

5umJforaoBk 1830 1840 
Sumitomo Own 548 555 
Suml Marine 9CW 913 
Sumitomo Metal 338 344 

Taiwi Core 666 UP 

Takedo Chem 7160 1200 
TDK <290 *290 

Tallin 553 557 

Tokyo Marine .1160 120) 
Tokyo Elec Pw 2920 2960 
Toppan Printing 1*10 i<20 
' 75* 759 

747 74? 

2010 2040 
737 768 


Torav Ind. 
Toshiba 
Toyota 

Yomolchl Sec 
o: x IX. 

(MSUV 


Toronto 


19ft 

7ft 

20ft 


AWtIW Price 
Air Canada 
Alberta Energy 
Alcan Aluminum 35ft 
Amer Barrtck 36ft 
Avefxir 

Bk Nova Scotia 
BCE 

BC Telec omm 
Bombardier B 
Bramatea 

Brasean A 

Cameeo 
Cl BC 

Cdn Natural Res 
COnOccJd Pol 
Cdn Pad He 
Cascades Paper 
Comlnco 
Consumers Gas 
Dotosca 
□oman Inc B 
Du Pont Cda A 
Ectw Bay Mines 
EmrtreCaA 

Folcnn bridge 

F letche r Choi 1 A 

Franco Nevada 
Guardian Cap A 
HemtaGotd 
Horsham 
Imperial Oil 
Inco 

1 PL Energy 
Loc Minerals 
LaktlcwA 
Laid taw B 

Laewen Group 
London IraurGa _ 
Mocmlll Btoedd 1 
Magna Inti A 49ft 
Masle Leaf Fde 11 
Ntxxm 25 

Nrwbrldae Netw 4*ft 
Noranda Inc 27ft 
Noranda Forest 12ft 
Norcen Energy 17ft 
Nthern Telecom 46ft 
Nova 14ft 

Onex 14 Vs 

Petro Canada lift 
Plow-Dome 34ft 
Potash Corn Sask s*ft 
Proviso Sft 

PWA 0X0 

Quebecor Print 14ft 
Renaissance Eny 28ft 


26ft 

26 

47ft 

2Sft 

21ft 

420 

19ft 

26ft 

3116 

17ft 

29ft 

22ft 

714 

24ft 

T7ft 

23ft 

13 

18ft 

18ft 

13ft 

2Dft 

19ft 

87ft 

Sft 

15ft 

21ft 

43 

40ft 

29 

17ft 

10ft 

10ft 

32ft 

22ft 


19ft 

7ft 

20ft 

35ft 

36 

26ft 


RtoAlgom 
Seagram Co 
Stone Caraofd 
Talisman Eny 
Teteglobe 
Tetus 
Thomson 
TurDcra Bank 
Traraaita 
TrensCdaPIpe 
Utd Dominion 
Utd Westbume 
Wesf c oost Eny 
weston 

Atrax Canada B 

imssm 


25ft 

41ft 

15ft 

29V. 

17ft 

17ft 

15ft 

20ft 

14ft 

17ft 

25ft 

lWi 

21ft 

37ft 

*8 


25ft 

rift 

*15 
20ft 
26 
31ft 
18ft 
29ft 
Zft 
6ft 
24ft 
17 
23ft 
13 
TSft 
lift 
13ft 
21 
19ft 
87 
■ft 
15ft 
21ft 
*3ft 
40 ft 
29 
17ft 
101 * 
10V5 

32ft 

22ft 

17ft 

47ft 

lift 

25 
43ft 
27ft 
lZft 
lBft 
47ft 
13ft 
14ft 
lift 
34ft 
S2ft 

Sft 

0X1 

15ft 

28ft 

26 
41ft 
19ft 
29ft 
17ft 
16ft 
15ft 
20ft 
14<« 

17ft 

25ft 

10ft 

21ft 

3714 

47ft 


Zurich 


AdtaintlB 226 229 

AlusulsseBnew 687 685 
BBC Brwn Bov B 1171 1165 
Cfna Getgy B 7*2 733 

CS Holding} 8 536 536 

EtoktrawB 348 351 

Fischer B 1560 1560 

innrdifcaum B an 2200 

Jelmoil B 90S 90S 

LondbGyrR 765 770 

MoevenmckB *00 398 
Nestle R 1193 11*1 

Oerilk. Buetwle R 133 133 

ParacsoHIdB 1520 1540 
Ractie HdgPC 5970 5970 
Scrtra RopuOIIc US 107 
SandazB 687 687 

Schindler B 7970 8000 
Sulzer PC 900 890 

Sarvelilonce B I960 1990 
SwtssBnk CarnB 346 ja 
Swiss Retnsur R 568 567 

Swissair R 835 B23 

UBS B 1187 1194 

Winterthur B 670 674 
Zurich ASS B 12S5 1261 
SBCtadex: rt9.n 
Prevlegs ; 92u9 


U.S. FUTURES 


Via Awoctated Freo 


Sept. 27 


Season Season 

Mgn Low Open 

rtoh 

Law 

Oase 

Ow 

Op Ire 


Grains 




WHEAT (CBOT) UNLirMrun-c 

BUnMfDuhii 



ItoVj 

mi- 

3.96ft 

190ft 

191ft 

Z l -•■Tt'flr 

*06ft 


402ft 

191 

3X9 


jn 


189 

3X4 

186 

-ajjii 

1611 

JXlft 

111 JK9S 159 '•i 


liJ 

IXtft — CUD ft 


)A5 

3X1 ft Sep to 162ft 


FT! 

3X9 

— 0X4 

99 

US 

155 Dec «5 in 

170 

167ft 

1X7'.') -004 ft 

81 


Jul 96 154 ft 

154ft 

IS* 

1X4 



Ea.satei 15X00 Man’s. sates 14X7D 




Mon'saaenlnt 74X* off 4J* 





WHEAT (ROOT) MOOBurnWfjMD-c 

daonparb^^i* 



4X3 V- 

112ftDeC W *01 

407ft 

196ft 

198 

-004 ft 21X64 

*J7ft 

• .-rt’ Li 


400 

401ft— 8 J4 ft 11097 

19* 



r <7 

189 

— 0.04 ft 

964 

1 67V. 

i4d TlTtnE 

Ml. • 

EE 

161ft— 0J4ft 

•U»S 

077 


1X6 

164 

165 

— 0J2 

66 

165 




3X8 ft — 003 

1 

Est. sates na Man's, sde 

1242 





■ • T 1 Vi* M ' • ™ ■ 






;• .'i.n.i ..a-L 

np+OWM 



2.77 


1- V »7| 

115ft 

115ft— 001 135126 

2X2ft 



125ft 

275ft— 0J1 

42.081 

2X5 

272ft May 95 273ft 

274 

272ft 

273 

-0J1 

16,9/S 

2J5V) 

276 V) Jul 95 LJIft 

138ft 

277ft 

277ft — QOQft 17X43 

270ft 

279 Sep « 5 2X2 

2^2 

PVrVr 

FTH’gt-iM 

1,196 

2X3 


2X6 


y'-i 


6786 

2X3 

2XlftM<r96 



2X1 ft— CLDOft 

37 

2X2« 

2X515 JUi 96 



2X1 

-100ft 

59 

| ' -i| : ' ^■'#1 • 





L ' 






,. i, i. r 




;x7ft 

W.V i'.T. v T l u | 



5X4ft 


78777 

7JM 

KriiTrrBT r l| 

* ^ 1 Ci 

563 V, 

544ft +0O0V) 19 JOT 

7J5 

it** ' F . i. ■. ** / ’ j 

576ft 

573 

5J4ft 



70T6 

^ . W-4 

582ft 

579ft 

581 



7J)6ft 

B- V. ^ > T e bbtttjm 

5X9 

585 

586ft 



*12 




SJ7ft 


269 

*15 

SJ7 Sea 95 



588ft 



*50 V, 


598 

594ft 

5X6 

-ojoft 

*274 

*31 

*12 Jut 96 *12 

*12 

*12 

*12 


4 

Est. SOUS 21X00 Man's, sales 1*614 





22 





SOYBEAN MEAL (CBOT) latm-t 




207X0 

16*00da9J 164A 

i-'- 

r 1 - 



209 JO 

■ r’ 1 i • 

pr 

EE 

vr- 


207X0 

■ 1 ^ .• iytiTW^X^ 


Fr- 



207XO 

■ rr ' I ^rl 1 * 




B c Ilf’il 

207 JO 




TJv 

■Tl 


20*00 

■ r/ ^ yrnK/f" 




Irrl 

Mil 

182X0 


uE 





18270 

■ r>^' 1 

LIZ 

uE 

. 



ItVDO 

B ri» . ■ ' i 

iBija 





1S2J0 

BK feV.^1 | • 

182J0 


EiT7 



Eo. tries 14.no Man's, sales 12X45 




r: lb \ ■ if i m Vi 





1' *1 i : 1 ^ 1 ’ I* V,* *J| V * 





29X4 

22. 10 Oct 94 2SX5 

j*m 

2563 



28X7 

22X0 Dec 9J 25J4 

2511 

24X4 

3493 

-aw 38757 



2*80 





2870 


2450 

2475 




2*05 


2415 

2100 

7401 





2X95 

2UB 



1911 

2770 

22JSAug95 2185 

23X5 

2375 

2175 


569 

2*75 

22.95 Sep 95 2X70 

2175 





23X0 

211000 95 






21X5 

22X0 Dec 95 23.60 

2165 

23X0 

23X0 



Est. sates 1*0)0 Mon's, soles 14X83 










Livestock 




CATTLE (CMER) 4UWIK.- 





74.10 


«fxa 

69JJ7 

S9.1S 


7*30 


49.12 




7475 


as 2 











497 0 

65.80 Jun 95 6*20 

6675 

6*00 

6*00 

—075 


6*10 

65X0 Aw 95 65X5 

65X3 

65X5 

65X7 



67X5 

6*050095 66X0 

6*« 

6595 




Est,s0>s lixeo Mons sgtes 11,5*1 




Man's Been tot 72756 off 8» 





FEEDER CATTLE (CMER) 






7SX0 

7ll5Sep9i 7JJB 

7375 


72X5 

-0X5 


8175 

70.950094 73X5 

71X5 

7100 

73.15 



18.03 

72^0 Nov 94 7*17 

7417 

73X7 


-OSS 





7177 




8075 

71.90 Mar 95 72J5 

72X0 

7275 

72X0 



7*90 

71X0 Apr 95 7110 

7270 

71X7 




7630 


72JB 

71X0 

71X0 

-075 

300 

7105 


no, 

71X0 

71X0 

-a* 

78 

Est, sates 1.DR Man's, sales 

1X78 










HOGS (CMS?) 4DJG0CS.- cans Bare 





49 JS 


37X0 

3770 

3777 

—438 

7.9ft 

SL50 

37X0 Dec 94 3870 

3870 

J7J2 

37X5 

—0.45 

2 .IS 

50X0 

3*75 NS 95 J7.15 

39.17 

38X5 

38X2 

-0X8 

4X01 

4X0 

3*75Apr«5 3970 

3975 

»J2 

SITS 

—0X5 

16* 

*7X0 

4U5 Jun15 *470 

4470 

4190 

4402 

— 0J8 

875 

45.00 

4175 Jul 95 4*32 

4472 

4180 

4190 

—0X5 


43X0 

&70Aug95 4105 


42X2 

*242 

-075 

111 

40X0 

39 JO 00 95 4080 

«J0 

39X0 

39X0 

—427 

87 


4*00 Dec 95 4|,M 

4UD 

*85 





4X93 





-,l,to III ■ ■ Ml 





l.v i ,| g. i 

b. 



6005 


39X0 

3190 

39.10 

—0.15 

7.772 

tars 

38J0Mre95 39.10 

39 J5 

3197 

3970 

— 0J7 

679 

61.15 

3?X5 May 95 CLffl 

4045 

*.10 

40.10 

—020 

159 


K-! n 


JOBS 

40X0 

-070 


**n 


39.95 

3»X5 

3»X5 

-0.15 

45 

E9.K4K 1X6* Men’s, solas 

1,109 












Food 

X (NCSEJ MJOOtet-carBiDerP 
24*25 77.10 Dec N 2222S 22*80 219X5 219,95 -4.65 22X77 

34*00 78.90 Mar 95 22150 226J0 723.00 22X50 -4X5 B.9Q 

744 *0 SXJIMOytS 23*75 72? JO 77*85 Z2U0 -185 3X9B 

2*5.10 85JBJul95 227.75 239.00 22*00 22525. -4.00 1,117 

23800 1 4150 5m *5 22850 22X50 2ZAJB ZZSJ5 — *00 450 

242.00 51 XD Dec 75 229J0 229J0 227X0 236X5 -4J0 627 

Est.saes 10X23 Man’s.satos 6X83 
Man's men W 37,151 off 212 


Seasoi Seaton 
HWi 


12J* 

1)82 

UJt 

I1J4 


LOW 

Onen 

rtgh 

LOW 

Oase 

0)0 

OpJnt 

10X700 95 

1124 

1124 

12.05 

1112 

-ail 

6X73 

10X8 Mcr *6 

11X0 

nxo 

11X5 

11X7 

-0.13 

IJM2 

1I.1BMOV96 

11X0 

11X0 

11X0 

1171 

-au 

5 

1IJ0JX9* 

11.75 

11X5 

1175 

11X0 

>au 

5 


EsI. sates 25.577 Man's, sales 24X92 
Mm's aoenirt 153X47 up 433 
COCOA (NCSE) lOmetnc Ians- s per wn 


1500 

1041 Dec 94 

1352 

1361 

1347 

1350 

1 1 41.730 

1605 

1077 Mar 95 

1401 

1411 

1398 

1400 

-1 15731 

1612 

1078 May 95 

1*78 

1*40 

1428 

1430 

5.16* 

1600 

1225 Jul 95 

1460 

1462 

1460 



15*0 

1*47 Sep 95 




1485 

-5 1704 

1633 

1290 Dec 95 




1511 

— S *920 

1676 

1350 Mar 96 




IS* 

-5 3794 

1642 

1225 May 96 




1573 

-S 312 


JuJTt 1593 

Est. sales 5.193 Mon'v sales 7.157 
/6on", uoai in* 75JW Off 423 
ORANGEAHCE CNCTN) ISJH Ps.- eems pw to. 

13*00 95.00 Nov 94 +>J5 7».« 9*60 V7JS —1X0 9,797 

132X0 89X0 Jon 95 102X0 103X0 100X5 101.10 —1X5 6X77 

12*75 93X0 Mar 95 105.70 105.70 10L7D 10*15 —1x0 4X66 

11*35 97 JO May 95 109X0 109X0 107 JO 107X0 -1X5 UB9 

119X0 100J0JUI95 110X5 -1X0 «9 

11*30 lUJ0Sep95 113X5 -1X0 26 

113X0 109X0 Nov 95 115X5 -1X0 

111X0 105X0 Jon 96 11*75 —1X0 

Est.sdes 2X00 Man's, sales 5.76S 
Man's open Ini 73X93 oft 1037 


Metals 


SUGAR-WORLD 11 (NCSE) 

DM* ft-wnwtt 


95,180 

11X5 

4790091 

K-J 

1170 

12X3 

12X8 

-0.1* 15,723 

95X80 

1170 



12X0 

1275 

12X5 

-115102X39 

94730 

12X5 


L l J 

15X8 

1134 

12X6 

—0.14 16X43 

94X50 

12X3 

10 577X95 

1145 

12X6 

1273 

1235 

—a 14 10X57 

9*280 


HI GRADE COPPER CNCMX) aonbs-cMinrn 
128.90 7*WSeo94 127X0 128X0 123X0 134X0 

75X5 Dec 94 118X0 118*0 117X0 D8XS 

7*90 Jan 95 117X0 

73.00 FeX « 117 X 

73X0 Mar 93 116X5 11*65 116X0 116X5 

76X5 MOV 95 115X0 115X0 114X0 115X5 

78X0JU195 11*00 11*10 113.90 11*45 

79.10Sa>95 11890 117X0 112X0 11X15 

7£XOOd95 118.10 121J0 120X0 120 X5 

77 J5 Nov 95 114X0 11840 118X0 118X0 

88X0 Dec 95 Ml JO 117X0 111J0 111X6 

8*50 Jan 96 111.18 

42X0 Mar 96 109J0 109 JO 109X0 110.15 

91.10 APT 96 116.10 

108X0 May 96 109XS 

10*10 Jun 96 115X0 115X0 11120 11 5X0 
JK94 10*85 

U1.40Aug« 113X0 

Est. soles 8X00 Man's, sales 7X59 

Mon's Open Int 59,754 alt IJ78 
9LVER CNCMX) VBBirm>«a.. aw Per rayon 
4150 493-0 Sep 94 567J 548J 566J 577X 

549J 511X0(39* S7L5 

Nov 94 573X 

3aOXD«9* 570JS 577.0 S68J S74X 

401XJon?5 571 X 576X 571 J 5715 

*16.5 Mar 95 S78X 58*5 577.0 £8*3 

41BXMOV 95 587 X 587X 587X W0.9 

420XJU195 J97J • 

SEX Sen 95 60*2 

S39JDec95 6100 6100 elOJ 61*3 

575JJan96 617X 

554.0 Mcr 94 6253 

587JJ May 96 632X 

MS 9* 6408 

es. sales 1*000 Man's, sales 1X676 
Mari’s open Int 118X06 otf *75 
PLATWUM (NMER) arni^uiinwmK 
43540 36*00 CW 94 418X0 419X0 417X0 *1940 

37*80 J(Ti 95 *23X0 *2*50 422X0 42*30 
390-00 Aar 95 *27X0 427 JO «« *27 JO 
*19J0Jul 95 *3i oo 

*22X00095 *3170 

Estjotos NA. Men's, sdes 3.142 
Mon'sopwiea 23X67 off 580 
GOLD CNCMX) iHrrom-4aNartp«rt» a 
417X0 344X00094 395.10 39850 395X0 398.10 

Nov 94 399 JO ■ 

mJ0Dec94 398X0 401X0 397.90 *01X0 
34850 Fed 95 401X0 *04X0 fllA) 40*70 
36*J0Aprf5 43*10 408X0 *0550 <08X0 
361.20 Jim 95 410X0 <1050 *09X0 411.70 
a0J0Aup95 414J0 41*50 412X0 415X0 
390.00 Sep 95 3*8X0 

*01X000 95 419X0 

400J0Dee95 430.90 421X0 *0090 42110 
412J0FebM «rio 

*i8js Apr ?6 rai.ia 

4 1*00 Jun 94 *i(pfi 

Est. sates 60X00 Man’s PMS 37X83 
Men's oeanmt 176.161 oft 313* 


II9X0 
11IJN 
117x0 
117X0 
115X0 
11*70 
113X0 
122.10 
118X0 
11575 
106X0 
11030 
11*50 
T CF-50 

114X0 
1 12X5 


597X 
5730 
60*0 
I0U 
6100 
4035 
628X 
612X 
<■79 n 
5S7X 


43SJ0 

439.00 

43100 

*36X0 


424-50 

411X0 

417X0 

438JD 

41170 
39800 
413X0 
439 JO 
42*50 
430X3 
431J0 


— 3J0 1X25 
*0XS 4X170 
*0X5 
+ 050 

+CLH 5X26 
-0X0 1X85 
+0X5 1X99 
+ 065 776 
-1X0 2XS1 
-020 7T1 

♦ 0X5 975 

+axs 

+ 0X5 IBS 

+oxo 

♦ 0X3 50 

+ 0X5 287 

+0X5 
+0X5 


-«J 253 

+ 9X 

+u 

>8X91X33 

+8J 

+ 8X 10X71 
+*9 *506 
+9X- 

+ 9.1 

+9X 2,258 
+9J 

+ 9J IJ13 
+9X 

+9J 1X01 


+ U0 7,156 

• 1.10 13X18 

♦ 1.10 2X97 

+ 1.10 467 

+ 1.10 379 


+3X0 .4X03 
+3X0 

+0X0107X55 
+ 3X0 1*079 
-150 7.137 
♦3X0 .10311 
+3X9 UP 

♦ 170 
-150 

+3J0 &712 
+13 1412 
+ 3J0 1X96 
-150 *370 


«X* +0J2 17465 
9*25 * | JIA7 

9193 +0JI 2X30 


Rnanaal 

CCMB7) iiiriiipn-pnaritepa 
9*10 9*23 Dec 94 9*6* 9*69 9*42 

95X5 9X98 Mar 9s «*2S v*2S 9U5 

»187 Jun « 93J3 9193 9192 

ESI. sales 2.131 Men’s. soMrs 3,155 
Men's open no 28,558 up 1299 
SrR.TlSASUHY (C80T} >i«M90pdn-pts*3n»^180oct 

Im'S H**"®-'* 102-18 102-105 102-13- - 035 181785 

HD-09 101-23 Mar 95101-28 101+28 101-23 101-23- 035 19B 

EB. Mies *8.000 Man's. sales 17X77 * 

Kfi?- s 9SS lra ,8S ' W0 3951 

iiSr T Sfu l Sw CD0TJ . 

IS3 5 3 g-W** SS- | ? 

er-w m 8NW Man's, sales 35X97 
Man's openini 287.126 ell 1*38 

98-19 97-31 99-01 — 18 

97-27 97-10 97-11 - l 

96-23 — 1 
96-20 96-0* 964)4 ~ 1 

95-28 95-19 +5-19 _• j 

95-18 95-11 95-n _ , 


116+20 98-0* Mar 95 98-18 
115-19 97-16 Jwi9j 97-27 
111-15 97-09 See 95 

113- 14 96-24 Dec 95 96-20 

114- 06 96417 Mar *6 95-38 

100-20 95-74 Jun 96 95-18 ™ 

^■? «*e» 320X00 Man's, sdes 193J77 
Man's own mf *54X81 up 9*00 
**P{*C^A1L BONDS (CBOTl Sfan»*ie > .-p H 6Mi m rf WOea 
91-17 87-07 Dec 94 87-1 7 87-21 87-00 S 74 J 7 - 11 
88-09 86-OP Mcr 95 864)6 — 1 

EsLMta *on Man's. sales 1,739 J 

MPilapefiH 18X16 up 36 


27.U1 

10X09 

237 

l» 

- - *6 
23 


18X88 

ia 


M*zfffairissr7Sffr& m 

WJOMnrSS 9X7*0 9X790 +J.710 

to. 710 Jun 95 93J90 93X30 93X511 93J8D 

91J10S*O9S 93X90 93.140 93X70 

71. 1B0 Dec 95 9X770 97820 917»0 VjSf 


-30521,795 
+ 20401 J39 
+ 10282X0* 
2ffl.no 
— 18 1*7X33' 


Season Season 
High Low 


Open tfigh Low Owe Chg. OuJm 


9*220 907SOMir« 92791 92X70 92700 9X720 —101*7.941 

93.180 92580 Junto 92X10 92X30 92J7D 92590 — »M7,24* 

9X570 92X80 See 96 92510 92-520 9X4*0 92490 -20107,070 

Est. sales 41*074 Man's, ides 211X47 

Mon's open In* 2J41.975 Oh 93*3 

BRITISH POUND (CM£R> lewpauna- 1 cDMienua, iOim 

1-5848 1X500 Dee 94 15710 15811 15708 15780 +90 31 554 

15790 1*640 Mar 95 15734 15800 1J730 15752' 190 277 

15660 153*8 Jun 95 1506 190 .0 

Est SalM 1X549 Mon'S, sates 9528 

Man'sooenM 31X39 otf 07 

CANADIAN DOLLAR (CMER) upP>1poHiow*«UP 1 - 
07470 07038 Dec 9* 07409 07428 0.7400 2)425 ' *12'42,«07 

07*05 07020 Mar 95 07422 07422 07421 07*71 

07522 0X990 Jin 9S 07408 07408 07408 07412 

073*5 0.6965 Sep 95 07397 

07400 070*0 DOC 95 07380 

Est. sates 3X72 Men's, sates 6X11 
Mon's open Int <5X69 

SBtMAN MARK (CMSO Ipprmark- nMnuMUM 
06*06 05590 Dec 94 0X446 0X509 0X438 0X48* 

0X593 OJBIOMarK 0X4*2 0X505 06462 0X493 
0X595 05980 Jun 95 0X503 

0X525 0X347 Sep 95 0X511 

Est. sates 26.291 Mot 1 9. sales 27X41 
MorTsopenlnt 75X2* Off 1228 
JAPANESE YEN (CMER) inme- 1 WtwMSU 
0X10*900 J09S2Rtoc M 001020700102800X101 IBL0102S2 
«J105600J09680Mar95QJ1II12flOX103S5DX10]lSDJia33* 

QJ) 10X70100977 AJun 95 -03110433 

QJlC775QJlQ20Q5ep9S 0X10528 +67 B5 

0X1 06600X1 06300ec 95 0X10621 ' +68 . S 

Est. sales 17X*2 Mon'sida 22X80 
Man's apanlr* 48.112 pit 1629 

SWISS FRANC CCMteR) SPWtate-tpaWwMMMJSP 
07905 0X805 Dec 94 07784 07870 0J7B4 07846 +57 35X48 

Q7W0 07*20 Mix 95 07838 07885 07848 07875 +57 <31 

07920 07466 Jun 95 079(6 +57 - 60 

Est. soles 17X82 Man's, soles 12X67 
Man's open Int 36,141 off 172 


M3 1,192 
•-*13 S55 

+ 13. 388 
♦ 13 27 


♦45 71X50 
♦AS 4X87 
+ « 476 

+46 11 


♦64 4*990 
♦ 65 2X80 


Industrials 

COTTON 2 CNCTN) SOXSDbt^cMiPwkL 
78X0 H-510ctM 60A0 68.40 67-50 

» aOecM 67.50 6770 66X5 

43.50 Mor 95 69X5 69.40 60X5 

6*00 May 95 7077 70J7 7000 

69J0JU9S 71X5 71X5 70X1 
6*0000 95 68.90 *8.90 68X0 

66X3DK9S 68.10 48X5 67 35 

_ Mar 96 

Est. sales 10X00 Mon-v sates 8X29 
Mon's open mt S0JB5 Oft 272 
^TWGO^CNMER) 

57 JO 44.90 Oct 94 4775 48XD 47 JO 

46X0NWM 4873 49X0' «30 

4*XBD«94 50X0 3030 49X0 

51X0 JUO 3DJ0 
47.95 Peb 95 51X0 5170 51 JO . 

47X0MW95 51. « 51.65 51.10 

43X5 Apr 95 50X5- JT.1D 50X0 
47X0 MOV 95 5QJB 50X0 50X0 

4479JUP95 49 JO 49JD 49J0 
48X5 Sep 95 51X0 51X0 

53A0D6C9S 5*00 5*00 5*00 
EsLvaiep NA Mcn^salw 4*1 X* 

Men's op en in* 173.106 ofl 303* 

LIGHT SWEET CRUDE (NMER) IMaiwLw 
20X9 1*02 Nov M 173 j7X»- XsSl 

1*93 Dec 94 1773 1772 17J9 

15.1 3 Jen 95 17X4 IBXO 1774 
lifflFebK 17.90 17X7 1779 

]££ M0r9S T7JS 18X5 17X1 

ISJHAwto 1»X1 18X4 17X4 

lSA9May95 17X9 17X4 17X9 

IfSAtnto 18X2 18X6 17X7 

17X0 . 17X0 UX0 

1 6. 16 Aug 95 

17X7 Sep 93 18J1 18X1 18J1 

18X6 18J6 18X8 

17X5^96 ,W? 

11*9 FeOM 
17.15MWM 

... liM 1MB ^ 
Mjdte* NA Mar's, sales 82X72 
Men ' s o pen Int 382773 Off 1881 
tMLEAOaeAWLNE MMQ) axto^.. 
pxo 43XJ0ct 94 43.90 *3X5 ^45 

5SA0 *275Nov94 4*00 *5JS S5 

60X3 50X0 Dec 94 S2J0 PK pm 

52X0 53.10 Sx 

51.10 Feo 95 sjjjg . J2X0 

52X0 Mv 95 5120 SUO 5*3 
5 * S5 Aar 95 jjj 57 g* 
S6J0May95 
56X0 Jun 95 
55X0 Jul 95 

54X05*P75 • 

52X00995 
53. 15 Nov 9J 
S195D«95 
E— S*«0Aug« 

NA Mom* soles 30,975 
Men's open Int 71.958 up 1599 


77X5 

78.15 

78J5 

7875 

7*70 

72X0 


5BJ0 
59X0 
4225 
5*75 
57 JO 
55.15 
54X0 
5130 
52.95 
57X0 


20X0 

19X5 

19X0 

20X6 

19X8 

19X4 

20X0 

19X7 

19X7 

18X5 

19.17 

19X6 

20X0 

21.15 

1U4 

18X0 

23X0 

HM7 


58X0 

58X5 

S5L20 

xxa 

57 JO 
57X0 
54.95 
95 50 
54JJ 
5199 
S3L79 
S8XS 


6770 

67X0’ 

48.95 

70X0 

71X5 

68X0 

<7.90. 

6U0 


-0J6 501 

^0X7-777* 

—0X210*43 
-057 5X89 
—060 1961 
-0X0- 461 

—038 1,733 
-0X0 


-0.11 TUIH 
-+4Q53i-,isr 
— (L1&MS7’, 



Static Indexes - 

SAP COMP. INDEX (CMER) jMelMK " 

£-0 42970 Dec 94 46135 86U5 861JQ tun 

•**0 441.45 Mor 93 46*25 4*875 46*10 4(7X1 

34JQAAar?3 257 JO ww WJK w w 

^ss sissss si 

Mon‘*sote». 1X16 



• 040 0X73] 
+0X0 , 


♦0X0 


Moody's 
Reuters 
DJ. Futures 


Commodify Indexes 

Close 

MfMD 

UUJO 


Com. Research 


T557V 

ZlUfi 


PrevtouSi 
15tfi5 i 
. 

15*02 ] 
3224 1 


























^W I(1 ^ 

~ r *-»»„. Ml h h , 

- - X 



AMEX 

Closing 

TWrtea ind udattw nationwide prices up to 
Wa * Street and do not reffec 
oate trades WMWhare. Via The Associated Press 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 28, 1994 


Page 15 


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slack dividend. 

9— stack split. Dividend begins wliti dote of split, 
sis— sales. 

t— dividend paid In stock In preceding 12 months, estimated 
casn value on ex-dividend or nx-oJjirUxjtton note, 
u — new yean y Mod. 
v — trading nol lea 

vl — tn bankruptcy or receivership or being reorganized un- 
der the Bankruptcy Act. or lecuHHes assumed by such amv 
aonles- 

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z— sales in tun. 


INTRODUCTION OF SYNCHRONOUS DIGITAL 
HIERARCHY EQUIPMENT IN HUNGARY 

PrequaliEcation Notice to Prospective Suppliers 
The Hungarian Telecommunications Co. Ltd. (HTC) is to introduce Synchronous Digital Hierarchy 
SDH| equipment families in the Hungarian telecommunications network. Suppliers will be selected 
rom among qualified bidders invited by HTC to participate in 2 tenders planned to be issued in the near 
uture. 

The tenders will cover two projects, to be implemented in 1995 and 1996. 

- SDH Development of the Budapest Trunk Network (with approximately 30 nodes), and 

- SDH Development of the Hungarian Backbone Network (with approximately 50 nodes, and all major 
international links) 

Both projects will cover complete, integrated SDH networks, consisting of 

- cross-connect equipment, 

- point-to-point transmission links, and 

- self healing optical rings. 

Suppliers' responsibilities will include the 

implementation design, manufacture, supply, delivery, installation, commissioning, 
and system integration of the equipment of the SDH network 
and will exclude the existing infrastructure, such as installation of optical cables, microwave 
towers, power supplies, etc. 

At network nodes the following equipment shall be installed for the individual projects: 


SDH Development of the Budapest Trunk Network 

SDH Development of the Hungarian Backbone Network 

- STM-1, and STM-4 addldiop and terminal 
multiplexers. 

■ STM-1, and STM-4 add! drop and terminal 
multiplexers 

STM-16 optical line s\'stems (line multiplexers). 

- STM- lb optical line systems (line multiplexers 
regenerators), 

- STM-1 microwave systems. 

- STM-1 microwave systems. 

- DXC 411 cross-connects 

- DXC 4/1 cross-connects 

- DXC 4f4 cross-connects. 

NE management sofwaie 

- NE management software 

Original equipment manufacturers who wish to be considered for prequalification for any of the above 

explained tenders are invited to submit a capability statement, addressing the questions below. In case of 

- a main contractor with sub-contractors, or 

- a consortium, 

all companies (including sub-contractors or consortium members) shall submit the applicable statements 
and evidences according to their planned responsibilities in frame of the project targeted. 

Applicants shall acknowledge that in case of successful qualification they are supposed to participate in 
the tender with the same sub-contractors or consortium members qualified by HTC for the relevant 
project. Although at the time of tendering bidders will be allowed to make minor changes concerning 
their actual partners and their responsibilities, HTC shall have the right to refuse any sub-supplier, sub- 
contractor oi consortium member not approved in the course of the prequalification. 

Documentary Evidences 

Minimum Criteria 

Company profile including type and size of the 
company, and consolidated financial statements (balance 
sheets and statements of income) for the last 3 years. 

minimum annual turnover; 

- in case of a single supplier, main contractor or consortium 
leader: an equivalent of 50 million USS 

- in case of equipment sub-suppliers or consortium members: 
an equivalent of 15 million USs 

- in case of sub-contractors (for installation, etc.) an 
equivalent of 5 million USS 

Details of at least 3 similar SDH projects completed or 
currently being implemented 

- each project shall be described, and reference letters signed 
by the customers shall be attached (with a certified English 
translation, if necessary) 

- each project value shall be at least 3 million USS. 

- the value of the bidder's own SDH equipment shall 
represent at least 1.0 milhon USS for each project (in case of 
other companies participating under the bidder’s control ) 

- all companies involved shall submit a statement that they 
are capable of arranging a visit by HTC to any site of the 
documented reference projects 

List of telecommunications authorities which have 
already approved the offered SDH equipment 

approval certificates from at least 2 (two) authorities for each 
equipment category shall be submitted, with certified English 
translation, if necessary 

List of other vendors, if any, whose devices the bidder (as 
a main contractor or the leading party of a consortium) 
intends to integrate with his own equipment for the 
relevant tender 

- authorisation by the vendors. 

to all the applicable requirements stipulated in this table 
- a realistic allocation of responsibilities among the partners 

Description of the project management methods and 
tools 

demonstrated ability to efficiently and reasonably manage, 
monitor and administer all activities, including the control of 
sub-contractors or consortium members. 

Technical brochures 

- compliance with the relevant European standards and 
recommendations 

- approval by the Hungarian Telecommunications 
Inspectorate, or willingness to obtain the same in case of 
contract award 

Description of the current network management system 
applied for the SDH equipment 

a declaration stating that as soon as the relevant 
international standards are set up, the company will develop 
a centralised network management system, capable of 
interworking with other SDH equipment 

Development history and planned future developments 
of the SDH equipment 

a well thought out development strategy, targeting totally 
own manufacture of all equipment in the near future 


Only those companies and/or groups of companies will be qualified to participate in the coming tender who have 
met the above minim um criteria. Separate prequalification materials shall be submitted for die two tenders. 
Prequalification materials shall be received, before 4:00 pjn. on I8th October 1994, at the following address: 

Inteltrade Co. Ltd, Mr. Zoltan Kecskes, Deputy Head of Procurement Dept. Budapest, Medve u. 25-29. 1027 Himguy 
Tel: +361-201-0045., -0054 - Fax: +361-201-0017, -0008 

Prequalification materials shall be submitted in 5 (five) copies in English for each of the targeted projects. In case 
of reference letters or other attachments written in other languages a certified English translation shall also be 
enclosed. 









INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 28, 1994 


NASDAQ 

Tuesday’s 4 p.m. 

Tins list compiled by the AP, consists ot the 1,000 
most traded securities In terms ot dollar value, it is 
updated twice a year. 


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The IHT/JAL Competition 

... X//X//?fr± /Y* / s /*//- //*/// //rXs/r) /r (*)aXs/. 

To celebrate the opening of Japan Airlines' new direct 
flights from London to Osaka as of September 4th, and from 
Paris to Osaka from September 7th, JAL and the International 
Herald Tribune are offering the chance to win round-trip 
tickets to Osaka. 

Here's How to Enter. 

A series of JAL statements will appear on a "jotting pad" 
next to the crossworld puzzle. Simply follow the crossword 
puzzle this week to obtain the answers to the three questions 
listed below. 

1. From which European cities does JAL fly non-stop 
to Osaka ? 

2. How often does JAL fly direct from Europe to Osaka ! 

3. How many onward destinations in Japan and Asia 
does JAL offer from Osaka> 

Once you have the answers, send them to us with the 
completed coupon below. Winners will be selected from an 
official drawing. The first two entries drawn with these 
questions answered correctly will be the winners. 

Win Free Airline Tickets. 

First Prize: Two round-trip Executive Class tickets from 
London or Paris to Osaka, plus 5 hotel nights. 

Second Prize: Two round-trip Economy Class tickets from 
London or Paris to Osaka, plus 5 hotel nights. 


RULES AND REGULATIONS 


Departure and arrival point for winners must be 
London or Paris. 

Airline tickets are non-transferable and seats 
subject to availability. 

Travel must be completed by March 31st 1995. 
Entry must be postmarked no later than October 
3rd. 1994. 

Valid only where legal. No purchase necessary. 
Entries will not be accepted from staff and families 
of the IHT newspaper, JAL, their agents and 
subsidiaries. 

No correspondance will be entered into. Proof of 
postage will not be accepted as proof of receipt. 
No cash alternative to prizes. 

Winners will be drawn on October 12th and 
published thereafter in the newspaper. 

On all matters, the editor's decision is final. 

The editor reserves the right in his absolute 
discretion to disqualify any entry, competitor or 
nominee, or to waive any rules in the event of 
circumstances outside our control arising which, in 
his opinion, make it desirable to cancel the 
competition at any stage. 


YOUR RESPONSES TO: 


Ql. From which European cities does JAL fly non- 
stop to Osaka? 

A h, 

00 

Q2. How often does JAL fly direct from Europe j 

to Osaka* ** 


Q3. How many onward destinations in Japan and 
Asia does JAL offer from Osaka? 

A. 

NAME 

JOB TITLE - 

COMPANY , 

ADDRES S 

POST CODE CITY 

COUNTRY TEL 

Send coupon to: IHT/JAL Competition, International Herald 
Tribune, 181 Avenue Charlcs-de-GaulIe. 92521 Neuilly 
Codex, France. 


Hcral bla&Z fcribunc 


7m 


Tuesday’s Closing 

Tables include the nationwide prices up to 
the closing on Wall Street and do not reflect 
late trades elsewhere. Via The Associated Press 


(Continued) 


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ICI and Enichcm 
> To Float Stake 
In Vinyl Firm 


Complied by Our Staff From Dispatch* 

LONDON — Imperial 
Chemical Industries PLC and 
Enichem SpA said they would 
sell a 60 percent stake in their 
joint venture, EVC Internation- 
al NV, the largest vinyl business 
? in Europe, through a Dutch 
public offering this year. 

ICI and Enichem sad they 
would raise as much as 700 mil- 
lion guilders ($400 million) by 
; selling a majority of EVC which 

the British and Italian chemical 
makers formed eight years ago. 

The sale would reduce the 
partners’ exposure to the fluctu- 
ation of prices for EVCs com- 
‘ modity plastics, especially poly- 

> Judge Says 
, Lopez Can 
Work at VW 

Compiled by Our Staff From Dispatches 

WOLFSBURG, Germany — 
L- A district court turned down a 
• plea from Adam Opel AG, the 

■ German unit of General Motors 
Corpn that would have prevent- 

. ed its former employee Jos£ Ig- 
L nacio L6pez de Aniorttia from 
continuing . to work at Volks- 
wagen AG. 

^ Opel has accused Mr. Ldpez 
v. of taking with him confidential 
data and unfairly recruiting sev- 
en Opel workers for VW. 

Hans-Peter Szyperrek, a labor 
judge in Braunschweig, said he 
- saw no reason not to let Mr. 
L6pez work. “L6pez has worked 
for VW for a year and a half and 
his knowledge has already been 
transferred,” he said. 

The court’s ruling does not 
have any bearing on another 
complaint by Opel that accuses 
Mr. L6pez of taking confiden- 
tial documents and knowledge 
with him when he went to VW. 

■ That case is still to be heard. 

T A spokesman for Opel said 
that although the ruling repre- 
sented a loss for the company it 
was not ’“crucial.” 

(Bloomberg, AP) 


“ — TO“THE UNITHOIBEK5~ 

OF THE GARTMORE INDOSUEZ FUNDS 

DIVIDEND ANNOUNCEMENT 

Tiro Bonrrf of Directors of the Cartmorr IndoMirr. Funds 
Management Company SA* acting for and on liultalf of ihe Cartniorc 


arroTding to tlw Prospcvtus. the following dividends: 


CJ. DEM Bond: 

G.I. DEM Reserve: — 

G.l. Diver bond: 

G.I. European Bond:-. 
GJ. FRF Bond:-....... — 

G.L FRF Reserve: — 

G.1. Global Bond: 

G.1. Dollar Bond: — - 
G.1. YEN Reserve: — . 


-DEM 0.3 
-DEM JJG 
-CHF 0.14 
-XEU 0.05 
-FRF 0.59 
.FRF 0.41 
-US$ 0.13 
-USS 0.09 
JPY 8.63 


The cx-dividend dale will be September 23. 1994 and the payment 
date will be September 30. 1994. 

For the Management Company 
The Domiciliary Agent 

Banque lodosuez Luxembourg 


Dear Reader, 


sport on Uganda (see pages 10- 1 1), please tick the appropriate 
ba<es) and send the completed coupon to: 

Alan Williamson, IHT London, 

63 Long Acre, London WC2E 9JH England. 
TeL: (44-71) 836 4802 - Fax: (44-71) 240 2254 

□ Uganda Electricity Board 
O Uganda Development Bank 

□ Mukwano Industries Ltd. 

□ Uganda Posts & Telecommunications 

□ Pan World Insurance 

□ Uganda Investment Authority 

□ Uganda Railways Corp. 

□ Kaktra Sugar Works Ltd. 

□ Ministry of finance 28-9-94 


Company . 

Address _ 

Cny: ^ — 
Counrry: _ 


ESCORTS & GUIDES 


BEGRAVIA 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY. SEPTEMBER 28, 1994 


Page 1 


mss 



tt i n i r Net Surges 

Unemployment Settles In Telecom 

Europe’s Jobless Ailing Amid Recovery Of Italy 


Investor’s Europe 


Frankfurt 

DAX 

m - 


vinyl chloride, its primary 
product, analysts said. 

They also said the move was 
pan of IQ’s strategy to move 
out of commodity chemicals 
businesses. Last year ICI sold 
its fibers business to Du Pont of 
the US, and its polypropylene 
capacity to BASF of Germany. 

The proposed flotation 
would be undertaken through 
an offering to Dutch and inter- 
national investors, with a full 
listing on the Amsterdam Stock 
Exchange, ICI said. 

An EVC spokeman said the 
flotation would begin at the end 
of October and would be com- 
pleted by the end of the year. 

The offering will comprise 
new shares to be issued by EVC 
and existing shares to be sold by 
ICI and Enxrhem. 

Following the offering, the 
combined shareholding of IQ 
and Enichem in EVC will be 
approximately 40 percent, be- 
fore exercise of any overallot- 
ment option, IQ said. 

“EVC has taken a lot of time 
and money, and it's been a re- 
cession-hit business,” said Mar- 
tin Evans, a chemical industry 
analyst at Hoare Govett Ltd. 

ICI, the world’s fourth -larg- 
est chemical company, said the 
sale was likely to result in a 
charge against its fourth-quar- 
ter earnings of about £125 mil- 
lion (SI 97 million). 

Hie charge, which was not 
expected by analysts, will re- 
flect the reduced value of its 
stake in the vinyl joint venture. 

“I wouldn’t expect the mar- 
ket to react much to the 
charge.” said John Doree, a 
chemical analyst at Robert 
Fleming Securities. ‘This is a 
very asset-rich company.” 

races for polyvinyl chloride, 
used in plastic pipes, fell nearly 
50 percent during Europe’s re- 
cession between 1989 and 1993. 
Since then, prices have rebound- 
ed on strong industrial demand 
and a shortage of supply. 

EVC lost 11 1 million guilders 
in 1993. But in the first half of 
this year, the company posted 
an operating profit of 43 mil- 
lion guilders on sales of 1-2 bil- 
lion guilders. (Bloomberg, AFP) 


By Richard W. Stevenson 

t\e h" York Tima Sertice 

MADRID — After suffering the ravages of 
the deep European recession, the Spanish 
economy is perking up and should grow at a 
reasonable rate over the next several years. 

Exports are surging. Corporate profits are 
improving. Inflation js under control. 

But none of that means much to Soledad 
ArevaJo Sastre. She recently lost her job as a 
history and geography teacher, has tittle hope 
of finding a new one and is living on unem- 
ployment insurance. She does not expect the 
economic recovery to change the outlook for 
her or for most of the 3.7 million other Span- 
iards who are out of work, a staggering 24.3 
percent of the work force. 

“I have absolutely no idea what will hap- 
pen to them or to me and my life.” said Miss 
Arevalo, a 35-year-old Madrid resident. “The 
world is changing too fast.” 

Across Western Europe the recovery is 
gathering steam, bringing an end to one of the 
bleakest economic periods in the region since 
World War 11. 

But for the European Union’s 20 million 
unemployed people — 10.8 percent of the 
work force — the rebound is only confirming 
what many of them had feared and what 
economists had been predicting: that their 
plight will not end with the recession. 

Instead, the jobless are be ginnin g to under- 
stand what analysts mean by “structural” 
unemployment, die kind that will not be 
swept away by a cyclical economic improve- 
ment. Like Miss Arevalo, they are at risk of 
being caught permanently among an array of 
problems that are much discussed but diffi- 
cult to solve. 

There is an intensifying worldwide industrial 
competition that has been forcing companies 
to pare their work forces. There is the high cost 
of employing workers in Europe, where busi- 
nesses foot much of the bill for generous social 
welfare programs. There are Europe’s rigid 
labor laws, which inhibit business expansion 
by making it expensive and difficult for em- 
ployers to hire and dismiss workers. 

“Economic growth will play a part in re- 
ducing unemployment,” said a recent report 
from the Organization for Economic Cooper- 
ation and Development, a research group 
based in Paris that is financed by the largest 
industrial democracies. “But beyond the cy- 
clical component of unemployment is a struc- 
tural dement that persists even into recov- 
ery,” the report said. “This is harder to reduce 
and is even more troubling.” 

Nowhere is the problem more troubling 
than in Spain, and nowhere are the difficulties 
of solving it more clear. 

Although the figure appears to be inflated to 
an unkn own extent by fraudulent claims from 
people who are working in undocumented 
jobs, Spain's jobless rate is by far Western 
Europe’s highest The country’s Socialist-led 


government has tried to address the problem 
with an ambitious package of labor laws that 
went into effect earlier this year. Among the 
changes, the laws make it easy for employers to 
hire temporary workers and to pay them, in 
some cases, less than the minimum "wage. 

Economists said the laws appeared to be 
spurring the creation of jobs. But they said 
some of the jobs might be coming at the 
expense of pennanenu better-paid employ- 
ment for other workers. In any case, they said. 
Spain has so far shown little ability to create 
or attract new jobs in industries with bright 
futures like technology. 

“Although the labor-market reforms are 
helping the Spanish economy to create more 
jobs with low growth, unemployment rates 
are going to stay high for some time,” said 

The problem is acute in 
Spain, which has changed its 
laws to boost employment. 

But little improvement in the 
jobless rate is expected. 

Son soles Gallego Heirero. an economist with 
Analistas Fmancerios Intemacionales. a con- 
sulting firm in Madrid. “Things will improve 
next year, but not substantially.” 

A recent forecast by NatWest Markets in 
London projected Spain's unemployment 
rate would decline only marginally, to 23.9 
percent next year and 2’3.3 percent’in 1996. 

While the jobless rates in the rest of Europe 
are not so high, the projected improvement 
over the next few years is equally slight. Ac- 
cording to NatWest, France’s unemployment 
rate will decline to 1 1.9 percent in 1996 from its 
average level for this year of 115 percent. 

Over the same period, Italy's rate will drop 
to 10.7 percent from 10.9 percent. In Western 
Germany, joblessness is projected to fall from 
8.3 percent this year to 7.6 percent in 1996. 

Europe has remained calm at least in pan. 
economists said, because unemployment bene- 
fits are generous. They start at S470 a month in 
Spain for a single person and go up to more 
than double that for a worker with two or more 
children. They generally continue, in some 
form, for as long as workers remain jobless. 

What progress there has been in battling 
unemployment has come largely as a result or 
deregulating the labor force. The need for such 
steps has gained widespread acceptance, even 
among Socialists such as Prime Minister Felipe 
Gonzalez of Spain, who pushed a package of 
changes through Parliament Iasi year despite 
strong opposition from his party's left wing 
and from the country's trade unions. 


Blocmherg Business Sent 

ROME — Telecom Italia 
SpA, Italy’s state-owned tele- 
communications company, said 
greatly reduced costs of debt 
service and increased sales re- 
sulted in a J 19 percent rise in 
pretax operating profit for the 
first half of 1994. 

Telecom Italia was created 
July 27 through ihe merger of 
five smaller telecommunica- 
tions companies. 

When comparison figures are 
used, they refer to first-half 
1993 figures of Sip SpA, which 
accounts for 90 percent of Tele- 
com Italia business. 

Pretax operating profit for 
the first half rose 1 1 9 percent to 
2.174 trillion lire (51-4 billion) 
compared to the same period 
last year, mainly due to a reduc- 
tion in Telecom's interest pay- 
ments on debt, the company 
said. Interest payments de- 
creased 38.2 percent, to 757.7 
billion lire. 

Sales increased 25 percent, to 
14.2 trillion lire. Operating 
profit before taxes and interest 
payments was 7.9 trillion lire. 

■ Merger Set m Peru 

The Spanish-owned tele- 
phone companies Emel Peru 
SA and Compania Peruana de 
Telefonos SA will merge by the 
end of the year, Reuters report- 
ed from Lima. 

Telefonica de Espaiia SA ac- 
quired a controlling stake in 
both companies by paying $2 
billion in a privatization auction 
in February. 


Canal Plus Buys 
Stake in Vox 

Compiled by Our Staff From Dispatches 

GUTERSLOH. Germany — 
Canal Plus SA. the French' ca- 
ble-television company, agreed 
to take a 24.9 percent stake in 
Vox, the troubled German 
broadcaster. Financial details 
were not disclosed. 

Vox was threatened with 
bankruptcy before News Corp. 
bought a 49.9 percent stake in 
the company in July. 

The channel is 24.9 percent 
held by a unit of Bertelsmann 
AG. (Reuters. A FX) 



a’mTTaT. 

1994 

Exchange : In dt 


London 
FTSE 100 Index 


'sr5B 

1994 


Paris 

CAC40 

2300- 

SCO-™-- 

3000 — -ft.j 
. 1900 W 


Amsterdam 

Brussels 

Frankfurt " 

Frankfurt 

Helsinki . 

London 

London 

Madrid 

Milan 

Paris 

Stockholm 

Vienna 

Zurich 


index •• Tuesday 

Close 

A£X 400.66 

Stock Index 7,201.50 

DAX. 2,058.73 

FAZ 779.08 

HEX 1,882.36 

Financial Times 30 2.340.20 


FTSE 100 . 

General Index 

MIBTEL 

CAC4P 

Affaersvaartden 

Stock Index 

SBS 


3,008.50 

297.30 

10947 

1,901.28 

1,816.96 

436.10 

919-93 


Sources: Reuters. AFP 


“"A M J J A S 
1994 

Prev. 

Close Change 

400.47 +0.05 

7.212.41 -0.15 

2,068.67 -0 48 

784.86 -0.74 

1.880.39 +0.10 

2.331.40 +0.38 

2,999.80 +0 29 

297.17 +0.04 

10754 +1.79 

1,902 72 -0 08 

1.810.38 +0.36 

440.70 -1.04 

921,59 -0.1B 

Imcmiinnu! Herald Tnhunr 


Societe Generate Net Rises 
But Full-Year View Is Weak 


Compiled by Our Staff From Dispatches 

PARIS — Soci£l£ Generate 
reported a 4 percent increase in 
net earnings in the first six 
months of this year because of 
reduced provisions for problem 
loans. But it said it expected 
full-year earnings to decline. 

The bank, one of the largest 
in France, said net profit rose to 
2-24 billion French francs ($42 1 
million) from 2.16 billion francs 
a year earlier. 

The results were in line with 
expectations. 

But Marc VienoL the chair- 
man said: “1994 net profit will 
be lower than last year, but I 
can’t say by how much because 
it will depend on economic con- 


ditions ” The bank earned 3.6 
billion francs in 1 993. 

Net banking income declined 
2 percent, to 19.87 billion 
francs, in the first half, reflect- 
ing a significant drop in finan- 
cial-market trading profits. 

The bank reduced provisions 
for problem loans 22 percent in 
the First half from a year ago, but 
they remained high at 2.74 bil- 
lion francs. Mr. Vienot said. 
Some 710 million francs of prob- 
lem loans related to the de- 
pressed real estate sector. 

Gross operating profit 
dropped 10 percent, to 6.05 bil- 
lion francs. But this was 9.6 
percent higher than in the sec- 
ond half of 1993. 

{ Bloomberg, AFP, AFX) 


Very briefly: 

• West German consumer prices rose 2.9 percent in September 
from a year ago, but were unchanged from August, according to 
provisional figures from the federal statistical office. 

• MTV Networks, a unit of Viacom lnc_, has promoted William 
Roedy. chief executive of MTV Europe, to president of all MTV 
international operations. 

• Oman Oil Co. will conduct a feasibility study to lav the world’s 
deepest underwater natural gas pipeline from Oman to India; the 
countries wall sign a final, long-term gas supply deal in July if the 
pipeline proves feasible. 

• Scor SA, France’s largest reinsurer, said its first-half net profit 
rose to 99 million francs ($19 million), from an estimated 29 
million francs a year ago: the company also said sales improved. 

• House of Fraser PLC said its first-half pretax loss widened to 
£4.5 million ($7.1 million) from £800.000 because of an £S-5 
million charge for listing on the London Slock Exchange. The 
company owns S6 department stores in Britain. 

• Bayer AG’s management board chairman. Manfred Schneider, 
said be was confident that the company would realize its earnings 
goals its 1994 financial year; in August, the company announced a 
24 percent increase in first-half earnings. 

• Sears PLC. the British retailer that owns Selfridges, an upmar- 
ket London store, said first-half pretax profit jumped 38 percent 
o £53.8 million. Sears raised its dividend to £1.05 from £1.00. 

• Tarmac PLC Britain’s biggest construction and housing compa- 
ny, said two years of restructuring helped its first-half pretax 
profit rise to £23.1 million from £2.5 million a year ago. 

• The Russian Central Bank spent $25 billion over the last two 
months on intervention to support the ruble, reducing its foreign 
exchange reserves to below $5 billion, a bank official said. 

• Norway may raise its value-added tax to 23 percent in 1995 from 

the current 22 percent to compensate for losses likely to be 
suffered by farmers and medium-sized companies if the ’country 
joins the European Union. AFP. aFX. Bomber*. R«um 







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Page 18 


INTERIN ATI ON AL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 28, 1994 


ASIA/PACIFK 


Fujitsu Bolstered 
By Cost-Cutting, 
Upturn in Sales 


Bloomberg Businas .Vpmj 

TOKYO — Fujitsu Ltd. said 
Tuesday it would show larger 
profits than forecast for the year 
ending in March 1995 because of 
cost-cutting efforts and in- 
creased sales of semiconductors. 


A spokeswoman for Fujitsu, 
Japan's largest computer maker, 
said pretax profits for the year 
may reach 70 billion yen ($714.3 
million), 8 billion yen more than 
the company predicted in May. 
Fujitsu earned 28.9 billion yen In 
the previous year. 

Fujitsu was forced into a ma- 
jor restructuring after it lost 8.7 
billion yen in the year to March 
1 993. The company said it would 
cut some 6,000 jobs by 1995, 
bringing the company's total 
work force lo 50.000. To cut 
costs further, the company has 
derided to acquire pans from 
overseas for a new line of inex- 
pendve personal computers it 
released in September 1993. 


Improved sales of semicon- 
ductors because of a worldwide 
surge in demand for computers 
and the chips that go in them 
will also help earnings. Fujitsu 
said. The company is Japan’s 
fourth- largest and the world’s 
No. 8 chip maker. 


■ Matsushita on Target 

Matsushita Electric Industrial 
Co. is confident of reaching its 
earnings forecasts for the first 
half of its business year ending 
SepL 30, Reuters reported on 
Tuesday from Osaka, Japan. 

Strong overseas and better- 
th an -expected domestic sales, 
as well as continued cost-cut- 
ting, will help the company 
meet its forecasts despite the 
yen's climb against the dollar, a 
spokesman said. 

Matsushita has predicted a 
30 billion yen parent pretax 
profit for the period, which is 
steady from a year ago. 


Computer Company Has Character 

Founder Has a Lock on Chinese-Language Publishing 


Bloomberg Business Hews 

BEIJING — The Cultural Revolution 
frustrated Wang Xuan, a Beijing Univer- 
sity professor. After Red Guards learned 
the computer specialist had studied Eng- 
lish by tuning into the BBC. he was 
“struggled against," becoming the target 
of verbal and physical abuse and being 
required to write self-criticisms. Worst of 
all, he had to spend five years “doing 
nothing," he said. 

So when normality returned in 1976, 
Mr. Wang had some catching up to do. 
He reacted by working without a day off 
for the next 16 years. 

“I did it for the attraction of the chal- 
lenge. the difficulty of the project and the 
value of the project," he said. 

Mr. Wang's goal was to develop a com- 
puterized printing system for Chinese-lan- 
guage publishing. What he came up with 
is now the core product of one of China's 
fastest-growing computer companies. 

Mr. Wang is technical director of 
Founder Group, a sian-up computer 
company linked to his university. 

This year, Founder's revenue is set to 
double, to 1.8 billion yuan ($211 million). 
Exports also are likely to double, to about 


$8 million. The company earned 1 30 mil- 
lion yuan in 1993, Mr' Wang said. 

According to a recent front-page arti- 
cle in the People’s Daily newspaper. 
Founder's black-and-white and color 
printing systems are now used by 99 
percent of all Chinese newspapers in 
China and 90 percent of magazines. 

In recent months, Mr. Wang has been 
an outspoken critic of attempts to make 
China’s computer industry self-suffi- 
cient. He said he wanted China to collab- 
orate with foreign companies, when nec- 
essary, to stay competitive. 

Founder has signed technical accords 
with seven foreign computer companies, 
including AST Research Inc. and Hew- 
lett-Packard Co. of the United States and 
Canon Inc. of Japan. Founder also mar- 
kets minicomputers in China for Digital 
Equipment Corp. of America; predicted 
sales this year would top 100 million yuan. 

Founder’s main product, its publish- 
ing system, comes in software form but 
usually is sold as a package of terminals. 


Founder and made in Italy and Britain 
runs most of the systems. 

This year. Founder said it expected to 
sell up to 3.000 of its color printing sys- 
tems. The basic product, including com- 
puter processing cards, software and type- 
faces, sells for about $20,000 overseas. 
Founder has sold its products to about 40 
leading Chinese papers abroad, including 
Hong Kong's Ming Pao. 


To raise its international profile and 
attract investors. Founder plans to list its 
Hong Kong subsidiary on the Hong 
Kong slock exchange next year and seu 
half its shares in the unit. 


Founder (HK) Ltd. handles the com- 
pany’s overseas sales, but it will be ex- 
panded lo take in the enterprise's other 
subsidiaries, dealing with finance and 
real estate development. 


Cheung Yuk-fung, executive president 


typesetting systems and scanners. Much 
or the eqirii 


or the equipment is imported. A high- 
density computer chip developed by 


of Founder, said the company has yet to 
choose an underwriter but ’ expects to 
pick a medium-sized one. "We don't 
nave that many shares." he said. “We 
expect to raise about 500 milli on to 600 
milli on Hong Kong dollars.*' 


The A340 has brought Delhi closer to Washington D.C. 


The A340 is the longest range aircraft in civil aviation history. It can fly a full complement of passengers, in true wide-body comfort, for over 16 hours non-stop. This opens up a whole new 
route network for the world's airlines. For example, the A340 can easily fly non-stop all the way from Frankfurt to Santiago, New York to Cape Town or Delhi to Washington D.G. 


Investor’s Asia 


Hong Kong 

HangSefKj 

liooo 


Singapore 
Straits Times 


Tokyo r 
Nikkei 225 






Exchange ' 

Hong Kong 

Index. 

. Hang Seng 

Tuesday jjev. . 

Close • Close Change 

9,61024 . 9,677 .3$ ; V.-0.69.. 

Singapore ; 

Straits Times' 

2,269.84 2L299.81. *A9\ 

Sydney . • 

All Ordinaries ; 

2,Q13JB0 . 2,030.00 .. .*0.60. 

Tokyo. . ... . 

.. Mkke». : 225 : 

19,468.89 19,814.36 -1.7* 

| Kuala Lumpur Composite 

1.149.60 1.157.48 -0.68 

Bangkok. . 

: SET * ... 

1.5D2J25 .. 1.495.72 +0*44 

Seoul 

•-■Compastte Stock 

.1,052,01' 

Taipei. . 

-.yveighied. Price 

7,102:10. .<7,025.76. 

. Manila \v. 

■;,SSE.v“ : . ,.v. 

2,934.27 :v _ 2,94420.'. ■ 

Jakarta - 

Stock'tadeJt s . . 

: 507.24 . 510.19 .j.-. -oi8= 

. New Zealand 

:; '.NZSE40. ; : 

.2*083-58- 2,075.80;. 

Bombay. •• 

National Index 

2,108-31 .-. £109.67 r -0.05 

Sources: Reuters 

AFP 

(menu banal HcfnM Tribune 

Very briefly: 


* Japan’s leading economic index stood at 60 points, down from a 
revised 61.5 points in June, but well above the threshold of 50, 
considered the dividing line between expansion or contraction, for 
the seventh consecutive month. 

• Samsung Aerospace Industrial Co. and 31 other South Korean 
companies have formed a consortium to develop a 1 00- seat 
passenger jet jointly with China. Seoul and Beijing plan to invest 
$1.2 billion to develop a prototype by 1998. 

i Thailand's Securities & Exchange Commission said it had ap- 

.1 - : .i . . i .r _ -uAnJam fr»r 


proved in principle the establishment of a secondaiy market for 
fail to g?in a listing on regular exchange. 




AIRBUS INDUSTRIE 

TAKING THE WORLD VIEW 






A330 


A300 


A3I0 


A240 


A32G 


securities that fs 

• Australia’s ruling Labor Party backed a government plan. to 
privatize the country’s airport network but only on the condition 
that majority ownership remain Australian. 

• Shenzhen Special Economic Zone Read Estate & Properties 
(Group) Co-, the largest listed company in Shenzhen.- said its B 
shares can now be traded as American depositary receipts. 

• AH Nippon Airways said it was likely to post profit of about 2.4 
billion yen ($24.55 million) in the six months ended Sept. 30. 

• Taiwan's index of leading economic indicators fell 0.3 percent in 
August, its first drop after four rises, because of slower export 
growth and other factors. 

• Singapore Telecom is to launch a trial video-on-demand service 

that would allow subscribers to select movies and view them at 
home whenever they want to. Reuters. ap, aFP. Bloomberg 


David Tang Leaves 
Problematic MKI 


Bkhvmberg Business News 

HONG KONG — David 
Tang, the Hong Kong business 
executive, said Tuesday, he had 
resigned as chairman of MKI 
Corp., a real estate and invest- 
ment company that has been 
suspended from trading on the 
Hong Kong stock exchange 
since June. 

One of Hong Kong's most 
visible personalities, Mr. Tang 
said he had resigned from MKJ 
and an associated company. 
Chesterfield Ltd. 

“I was involved in too many 
things," Mr. Tang said. He said 
he was trying to “divest" in or- 
der to concentrate on his own 
businesses. 

Mr. Tang’s replacement at 
MKI is Khundkar Khalid Ah- 
med Hossain, who is already 
the company’s president and 
chief executive. 

Hong Kong’s securities 
watchdog, the Securities. and Fu- 
tures Commission, suspended 
MKI shares from trading after 
the company made a series of 
potentially market-moving an- 
nouncements without first clear- 
ing them with the regulator. 

MKTs stock doubled between 
May 5 and June 6. The securities 
watchdog suspended trading in 
the shares, demanding evidence 
that some of its deals really exist- 


ed. The stock last traded at 61 
Hong Kong cents. 

The suspension is still in ef- 
fect, jLUfgqs for 

a change at the current tSlhe,’*a 
commission, spokesman said 


On September 9,. MKI and 
erfi<“ 


Chesterfield reported huge 
losses in Chinese real esta te deal- 
ings. The companies said they 
had been forced to write down 
two of their investments -to just 
1,000 Hong Kong dollars ($129) 
each after having paid a total of 
233.9 million dollars for them. 

What got MKI in trouble 
with securities regulators was a 
series of announcements claim- 
ing to have locked up lucrative 
contracts in Mongolia, includ- 
ing an exclusive marketing 
agreement for a supercomputer 
research center at the country’s 
National University. 

But the Mongolian govern- 
ment could not confirm when 
the center would actually open, 
and who would run it. At best, 
MKTs claim was premature. 

Many.of the deals that got the 
company suspended from trad- 
ing have failed to mate rialize 
Several companies named as 
MKI business partners said 
they did not have any formal 
agreements with the Hong 
Kong company. One company 
named in a release said it had 
no contact with MKI, 


Jardine Will 
Soon Trade 
In Singapore 


Compiled by Our Staff From Dispatches 

HONG KONG — Jardine 
Matheson Holdings Ltd. and 
Jardine Strategic Holdings Ltd. 
said Tuesday that most of their 
shares would trade in Singapore 
once the companies delist from 
the Hong Kong Stock Ex- 
change on Dec. 31. 

Neil McNamara, company 
secretory of Jardine Matheson. 
said institutional shareholders 
had expressed no concern about 
the change. 

The Jardine group has made 
arrangements with nine securi- 
ties firms to trade the shares for 
retail Hong Kong investors. 
The houses will charge broker- 
age fees of no more than half a 
percentage point 

Mr. McNamara said s imilar 
steps would be taken for the 
Jardine subsidiaries that have 
said they would delist on March 
31: Dairy Farm International 
Holdings Ltd., Mandarin Ori- 
ental International Ltd., and 
Hongkong Land Holdings Ltd. 

The Jardine Matheson com- 
panies' primary listings are in 
London but most trading in 
their shares is done in Hong 
Kong. Jardine Matheson's 
shares closed Tuesday at 65 
Hong Kong dollars ($8.4 1 ). 

(Bloomberg Kmghi-Ridder) 


Undersea Cable 
To Unk Japan . 
WUhBritain _■ 


Agertce Franoe-Presse 

TOKYO — Marubeni 
Corp. of Japan is to launch 
a $1.4 billion project with 
U.S. and Saudi . Arabian 
companies next year to link 
Japan and Britain with the 
world’s longest, undersea 
cable, a spokesman said 
Tuesday. 


Marubeni’s partners are 
Nynex Corp. of the United 
States, the Dallah Al Bar- 
aka Group of Saudi Arabia 
and Gulf Associates Inc., a 
New York-based 
meat firm. 


invest- 


. . Th® project involves lay- 
jnE_a 27, 000-kilometer 
(16,740-mile) optical cable 
connecting Japan and: Brit- 
ain through the Mediterra- 
nean Sea. the Red Sea, the 
Indian Ocean, the South 
China Sea and the East 
China Sea. It is expected to 
begin early next year and to 
be completed by 1997. 


The partners plan to re- 
cover their investment 
through sales of circuits to 
mternationa] telephone op- 
erators, the Marubeni 
spokesman said. 




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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 28, 1994 


Page 19 


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■v Ernd tan Aston HedwFd_s 


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w Ermltano Crosby AVa Fa_i 2117 

■vErmHogeAmerWdg Fd_» a_y 

w ErnUtage Enter Mm Fd 1 t*/7 

PUHOPA FUNDS LIMITED 

d American Equity Fund S WkJj 

a Americoft CWton Fund s 

w Aslan Equity Fd i \y M 

E vpREsr jJprr fl lwki tntm 125,28 

m E vwesj CafHtm int! Ufl S 12177 

FIDELITY tHTL IHV. SERVICES (Lux) 

d DbcovtlfY Fund S Mai 

a Stir FMt Ftuwf , BXB] 

a fw. Amer. Assets s 197.1B 

0 Fid. Amer. values iv. 3 110573X0 

a Fmnltor C.mif , 377, 

0 G total ind Fund s wm 

rf Global Select ton FufxL_» 23J0 

0 New Eunwe Fund i 14.14 

0 Orient Fund 1 1VK 

d Speddl Growth Fund -* 42.91 

d WnrtH Fiwirl t 11123 

finmamagemeht sa- Lwqibhsi Ji/2»rm 

FOREIGN* COLONIAL BMERG MKTS LTB 
Tel : London 071 438 IS* 
a Argentinian Invest Co Slav* 2738 

0 Bnullton tmrei co Slew s 4137 

w Colombian invest Co SintvJ tjjo 

d Glbl Em Mkts inv Co SJcav4 11,48 

9 InUJCto Invest Co Slrnv - s 1244 

a Lotto Amer Extra view Fd s ltLt&p 

0 Latin America Income Co— 4 vji 

0 Lotto Amcrtton invest Co_s 1247 

0 Mexicon invest Co SKav 5 4119 

w Peruvian Invest Co Slcov S 74.10 

1349 

mFMGN.Anw.cn Aitol—l iwt 

m FMG Europe (31 Ays) s 10J3 

m FMG EMC MKT |ji AU8J_S 1249 

m FMG Q 131 Auo) S 942 

mFMG Fixed <31 Auaj—j 104)6 

FX CONCEPTS f BERMUDA) LTD 
w Concepts Forex FuHd__-S 9.12 

GAIA CURRENCY FUNDS 

■vGafe Hedge II S 13344 

IV Goto H«torlll__- S 1744 

i» Goto Swiss Franc Fd sf sim 

m r. j I » c, « 12443 

mGoto GaaronteM CL 1 s (4.« 

«n Goto Guaranteed CL II- S mw 

OARTMORE IMDOSUEZ FUNDS- 34/09/94™ 


0 Euro Htoh Inc. Band— ___£ 

0 GIOOOl Fmritv 4 

a American RnwChin , 

0 Jaoon and Pacific—— —4 

0 u r_ 1 

gu e inS^ 1 flightTn n. Accui 

0 Deutschemer* Money ..PM 


GARTMORE IMDOSUEZ FUNDS 
BOND PORTFOLIOS 

S8 f%g3=8£2g=SP 

rf rVJWvOMMl TMe^U t 


0 DoS lor Bond. .Dts2.lt— 4 Z4S 

rf Euroamm Bd — Dtxl.10 Ecu 14s 

d French Fronc—Dls 7J4 FF 1240 

0 ASEAN S 9*3 

0 Aslo Podflc- S 5.17 

d Continental Eunice Ecu 144 

d Devefaplno Markets— j 449 

0 France FF hua 

2 P?"®- ; D« 143 

0 lnhvnmkvu.1 , 244 

0 — - v 24840 

d North Amerlcn . _ . s 7^3 

d Khwlorri r F 1^ 

RESERVE FUNDS 

d DEM — DB 3443 DM bJ9J 

a Donor— DU 2U3 S 2187 

0 French Franc FF llfll 

0 Yen Reserve— —^_Y 2864 

GEFINOR funds 

London :71 -<9941 71Xieneva:4V22 735 55 3D 

ir Scottish World Fund i 479 jssa 

w State St Amta taw S 34897 

GENESEE FUND LM 

WJA) G enese e Eaole S 1SL42 

w(B) Geneoee Start S 47*4 

Iv f C) Genesee Opportunity 5 17195 

wjFl Genesee Non-Equttv — i 139.98 

GEO LOGOS 

w II 5trototn Bond 8 Ecu 105S.V4 

w U Podfe Bond B ... *>F llOJt 

GLOBAL ASSET MANAGEMENT 

n’^^^Mtoe^of Man 4MM42MS7 

iv GAM AruHrcBS 5 

w GAM ASEAN S 

w GAM Australia — S 


f GAM Boston. 

IV GAM Combined .DM 

er GAM CrD3S'MmLet_ 5 

■vGAM Euraoeoit s 

IV GAM France. FF 

w GAM Franc-wal SF 

wGAMGAMCO s 

w GAM Htoh YMtf . . t 

w GAM Ecu! Asia S 

iv GAM Japan I 

urGAM Morwy Mlcls USS S 

0 Do 5 ter lira c 

0 Do Swiss Franc SF 

0 Do Deutsetiemark DM 

0 Do Yen Y 

w GAM Allocated Min-Fd S 

am Emera Mkb MitFFd s 

AM MttFEliraoe USS S 

AM AUtt- Europe DM DM 

AMMm-Gtobal USS— s 

"“.Ml IMIS— — X 

i Trodtou DM — DM 

Trading USS S 

Overseas S 

PacHJc— S 

Relative Value— s 

Selection _S 


Stnwoore/Mali . 

5F Spectat Bond. SF 

Tyoie — * 

US.. s 

ut Investments S 

value s 

Whitethorn s 

Worldwide— S 

Bond USSOrd S 

Bond USS Special — _s 


Bond c 1 15434 

ISpecM Band C 14235 

traversal USS — . S 14803 

Conncahe __J 33b.iv 

StratautcA S 101*9 

Strategic B S 10193 

_ — rXon Strategic A— * 99.90 

European Strategic B S mo JB 

Trading Strategic A * 101.17 

Tr ™Unfi Strategic 8. S 102.10 

try Mkn Strategic A— S 11110 

era Mkn Strategic B — s 11594 

YED FUNDS 41- 1-02 2424 
171CH 803LZurlcti 

we— SF 9209 

■vwi jvm TO<dlal SF IflJiH 

AM ICHI Podtlc SF 2TUM 


REGISTERED FUNE 
1 5701 street NY 10022912-BHM2M 
Europe S m*0 

Global S 137JM 

InlernattonaL 5 192B3 

North America S 9tLM 

Padftc Basin — S 19402 

REGISTERED UClTS 
mver Mount StJJuttln 2353-1-474040 

M Europe Ace — DM 131*9 

*■• Or tan Ace. —DM 159 J3 

ToLya Act— DM 174X1 

Total Bond DM ACC—DM 10400 

SOI DM Are DM 17499 

tal management ltd 

295-4000 Fax: 1(09) 2H-6UQ 
GLOBAL STRATEGIES LTD 


15701 Street/i Y 10 
Europe 

Global 

' International— 
North America— 


<F) G? Currency — $ 90X3 

(H) Yen Flnanctol J T59JU 

IJ) Dlverstned Risk Adi, — s 11843 

IK) Inti Currency & Bond ~J 11793 

iLlGiqtai Flnanctol— S B9JS 

IDRLDWtDE FUNDS 1793 

FUTURES S OPTIONS SICAV 
rt Bd Pnw-CHF Cl -SF 10094 
SACHS 

ptcMorl Fd II * 1J2 

— J Currency 3 1 242/8 

YtarlO Bond Fwto S 10.12 

World Income Fund S 9 JO 

QUITY FUNDS SICAV 
Euro Small Cop Port. — DM 9476 

GtaxH Eauity I 11.95 

"• Cap Growth Port— * 10J3 

SmaB COP Port— S tail 

i PorttoBO —5 1152 

■rUND MANAGEMENT 

Fund Ecu 1145.19 

CAPITAL INTL GROUP 

— “-I Equity I 0/857 

I Mortgage— 5 07729 

Debt Ltd— S 09483 

«>en» IGEMENT (IRELAND) LTD 





d GT Tatramm. Fd AShoreSj 
d GT Telecomm. Fd B Shores* 
r GT Technology Fund a ShJ 
r GTTedxtotogyFgndBShJ 
GT MANAGEMENT PLCI44 711 


0 GT. BloteOi/ Health Fund-5 2050 

0 G.T. Oeuischtarf Fund S llw 

0 &.T. Eureoe Fund- 5 49*? 

ivG.T. Global Small Co Fd 5 3056 

0 at. investment Fund-. — 5 27X4 

G.T. Koreo Fund — J 628 

G.T. Newtv lad Cowl r Fd— S 42X1 

^CAPTTALMMiWEMENTLTD 

‘^^FUGHtVd MUMS (Gnseyl Ltd 
FLIGHT GLBL STRATEGY FD 

ModaCNd Currency 1 3M7 

Global Bond S SS 


0 Nippon warrant Fund s t js» 

d Ada Tiger Warrant -5 50500 

0 European Warrant Fund s 3 . mm 

0 GW N.W. 1994 S 90400 

PREMIER SELECT FUND5 
0 Amer icon Growth— — __ S 60400 

0 Amer taw Enterrrbe^ ■ 1 88500 

0 Asia Ttoer Growth S 1LD30D 

0 Dollar Reserve s sjjido 

0 European Growth — S 5JB00 

0 European Enterprise s sstoo 

d Gtotial Emeraino MnvKel-, J 10.1308 

0 Gtatal Growth S 5JE0U 

d Ntapon Enterprise s B0500 

0 Nipm Grawm i sj« 

0 UK Growth—. C 52200 

d Sterling Reserve t 

0 North Amertam Warrant— S 43400 

d Greater Chino Oops — — J 0.1400 

ITAJLFOBTUNE INTI- FUNDS 
w Opss A (Aggr. Growth itaLiS 00010X0 

ir Doss B (Global Equity! S 1204 

w Cures C (Gtobol Band) 5 11.14 

■v Class D(EarBond)- Ecu 1179 

JAP.DINE FLEMING. GPO Box IWI Ha Kg 

0 JF ASEAN Trust S 61*7 

0 JF Far East wmt Tr i 2)^ 

0 JF Global Conv. Tr S UJ0 

0 JF Hang Kang Trust 5 18.14 

0 JF JoponSm-CoTr. Y 4662280 

d JF Japan Trust . ,y 1 1B01/JJ 

0 JF MotoyskJ Trujf s 30/S 

0 JF Podnc Inc. Tr. S 1Z74 

rf JF Thailand Trust S <U2 

JOHN GOVETT MANT O.0J8J LTD 
Tel: 44534 -42 94 70 

if Gavett Mna Futures J 1154 • 

w Gavetl fAnn. FuL U55 1 70* 

w Govett S Gear. Cure, I U5» 

w Govett S Glbl BaL Hdae s 10X314 

JULIUS BAER GROUP 

0 Boeraonc SF 

0 Canter — SF 

a Edutarer America- . . 1 

d Eaulboer Europe SF 

0 SFR-BAER - — 5F 

0 Stackbar — SF 

0 StKjsDcr SF 

0 LfcsiBKUtr— 1 

0 Europe Bond Fund Ecu 

d Dollar Band Fund S 

a Austro Band Fund AS 

0 Swiss Bond Fund- JSF 

0 DM Band Fund DM 

0 Convert Bond Fund. -SF 

d Global Band Fund DM 

d Euro Stocr. Fund -Ir: 

0 US Stock F -j.nl . — 5 

0 Pacific Shx± rund 4 

0 Swiss Slock Fund SF 

0 special Swiss Slock SF 

0 Jaoon Stack Fund— Y 

0 German Slock Fund. DM 

0 Korean Slock Fund S 

0 Swiss Franc Cash SF 

0 DM COSH Fund DM 

0 ECU Cosh Fund Ecu 

0 Sterling Cash Fund- 

0 Dollar Cosh Fund s 

0 French Franc Cosh FF 

KEY ASSET MANAGEMENT INC 

S&S&fiSSEzz =J 2$ 

mKev Hedge Fund inc 4 iwj 

Kl PACIFIC ASSET MANAGEMENT INC 


ittKl Asia Pacific FdUd- 
K1DDER, PEABODY 
b Chescpeoke Fund Ltd- 
b III FundUd — , . 


E^SwNBROTTtERSMrat/W 
> Asian Dragon Pori NV A — S 

' Asian Drouon Pan NVB S 

1 Gtohal Advisors II NV A i 

' Gtobol Advisors It NV B — S 
' Global Advisors Port NV AJ 
' Global Advisors Port h V B J 
I Lehman Cur AUv. A.‘B— — J 
r Futures Adi 


0 Premier Futures Adv A/B-S 9JV 

LIPPO INVESTMENTS 
24<F Updo Tower Centre. 89 Oueenswav/tk 
Tel (B521 847 AE38 Fm 1852) 594 0388 

w Java Fur 5 9.73 

w Asean Firaa IncFd j 8« 

wIDRMMrf Marker Fd S 12X5 

w USD Monev Market Fd s 1054 

iv Indonesian Growtn Fd 1 23.72 

wAd on Growth Fund — S IC.75 

w Aslan Warrant Fund— S 551 

LLOYD GEORGE MNGMT (852)4454431 

tv Antenna Fund S 1BX9 

tvLG Aston Smaller Cos Fd_S 19jw32 

tv LG India Fund Ltd— S tte97 

■v LG Jcocn Fd S 10X5 

ivLGKorea Fit Ptc 5 10X7 

LLOYDS BANK INTL (BAHAMAS} LM 
ivUoyds AnrertcDs ParHoUo-S *AS 

LOMBARD. ODIER * CIE -GROUP 
OBLIFLEX LTD (Cl) 

0 Multlairreno S 3258 

d Cottar Medium Timm S 7441 

d Dollar Long Term — — 1 1»45 

rf JcwmeseYen Y 4979X0 

d Pound Sterling i 259* 

0 Deutsaie Mork DM ITXC 

0 Dutch Florin FI 1813 

d hy Euro Currencies Ecu 15X3 

0 SwlD Frane <F 1298 

0 US Dollar Short Term S 1199 



d Betoton Franc — BF 1MJ? 

d Convert IM« i 14. ft. 

0 Frenrti Franc FF 153X0 

0 Swiss Mum-DMOOTd — SF 

d Swiss Franc Short-Term SF 107.99 

0 canofltan Doltar CS 1150 

d Dutch Florin Multi FI 14 jo 

d Swiss Franc Ohrtd Pay SF 1033 

0 CAD Multlcur. Dhf CS 1 1x3 

0 Medherraneoo Cure SF IILZJ 

d CsarmnlWes— — 5F iji 

0 Deutschmark Snort Term -DM 10X1 

MAGNUM FUNDS We of Man 
TC< 44424 488 320 Fas 44*34 688 334 

, w Maonum Fund I 9L22 

W Magnum Mum- Fund. 1 9048 

w Magnum Emera Growth Ftn KL77 

wMAgnum Aggtes. Grwtn FdS 9295 

MALABAR CAP MGMT taermuda) LTD 

m Malabar inti Fund— S 19X7 

MAN INTERNATIONAL FUTURES 

171 Mint Limited -Onfinarv S 40XS 

mMim Limited- income— J 12X0 

mMint gw LW - Soec Issue —5 2eX2 

mMintGtd ud -Nov 2002 S 21X4 

mMlniGta Lid - Dec 1W4. — S 17J1 

» Mint Gld Ltd -Aug 1995 5 1451 

mMint So P« Ltd I BNP) 1 9?J7 

mMintGtd Currencies S 6.72 

m Mint GW Currencies — s a.te 

mMint G GL Fin 2003 - — % 433 

mMlm Pius Gtd 2003 — — J 95V 

m Athena Gtd Futures 5 1238 

in Athena Gta Currencies-— S 936 

m Athena Gto Rnanclols COP 3 10X9 

mAlhwta Gtd Financials lnc_S 10.11 

mAHLCm>ih» MtosPd S 13.17 

mAHLConunodltv Fund s 1872 

mAHL Currency Fund — S 7X1 

m AHL Rsal Time Trod Fd — S 874 

mAHL GW Real Tim* Trd — 5 6.99 

rtt AHL Gtd Cap Mark LTd— s 9X4 

'mAHL Gtd Commodities Lid J 954 

mMao Guaranteed 1994 Ltd — s 0X7 

mMap Leveraged Recav. Lid 5 1129 

inMAPGowiteed2060 S 9.99 

mMAPGtdMOl S W.45 

MARITIME MANAGEMENT LTD 
73 Front St Hamilton Bermuda (8091292 9787 
, w Maritime Mil-Sector I Lid _S lOfcXH 

ir Maritime Gitx Beta Serles-S B3I20 

w Mortllme Glbl Delta Series 3 792JH 

MATTHEWS INTERNATIONAL MGT _ 
EMERGING ASIAN STRATEGIES FUND 

rn Class A S 11803 

d Class B S 114X5 

PACIFIC CONV STRATEGIES FD LTD 

mCtassA S P>X8 

0 Ctous B S 9112 

MAVBRICK (CdVimilUXBSO) MMM2 
m Maverick Fund - —5 147 77 

MCKlNUiY CAPITAL PARTNERS. LTD _ 

raThe Corsair PundLM -S ti.s 

m Tha Dauntless Fd Lid s 111.70 

MEESPIERSON 

Ratlin 55. ISTJkto Amsterdam (20-521 UBS I 

iv Asia Poc. Grawlh Fd N.V S 4131 

iv Asian CbPttol Hotalngs— -» 4330 

w Aston 5etecttte Fd K.V -Fl 10533 

IV DP Amer. Growth Fd N.V— 1 35X0 

N EMS Offshore Fd N.V. FI UIIJM 

w Europe Growth Fund N.V.-Fl 525B 

w Jonan Dtverslfleo Fund— 5 5233 

w Leveraged COP Hald ..5 40X7 

MERRILL LYNCH 

0 Dollar Assets Portfolio 5 1X0 

0 Prime Rate Portfolio 5 iai» 

MERRILL LYNCH SHORT-TERM 
WORLD INCOME PORTFOLIO 

0 Pass A .a fi jo 

0 class B S 830 


‘ Francs; F_ * Dutch Horin: 
nubble; K£.* 

Amsterdam 
publication; £ bid 


MERRILL LYNCH 

GLOBAL CURRENCY dOND SERIES 
AUSTRA LI AN DOLLAR PORTFOLIO 

0 Category It ' ~ a t 

CANADIAN DOLLAR PORTFOLIO 


a Deutsche™ trk Money -DM 90457 

d US Dot lor McneY 1 38.932 

0 US Donor High Yd Bond— S 24.74 

0 IfflT Balanced Bill— S ^ 3434 

HASENBICHLER ASSET MANGY GeunML 

w HasertMailw C«h AG S *742X8 

w HascnUchlsr Cam Inc S 122/3 

wHasenolcWwDIV — S 13839 

■vACCT _J 15DBX0 

HDF F I NANCtTH 1 33-1 )4S ,r , , {r* 49744455 
w Mandtovcst Europe-- . F F 1247 JS 

wMondtovesTCralstance — KKM 

wMondlirvestOnpInttos. FF 1221.92 

w ftatdlnwa Emera Growth JF 1354*8 

wMandiiwes Futures— _FF I214J8 

HEPTAGON FUND NV (5999-415435) 

f M*p»ggo OLB Fund 5 88.99 

m Heptagon CMO Fund s na 

HERMuASSET MANAGEMENT LTD 
Bermuda; (889)295 4QK. Lm: (3SSKM M it 
Final Prices 

mHerines European Fund Ecu 34134 

m Hermes Norm American FdS 297X8 

m Hermts Aslan Fung. s 38974 

m Hermes Emerg Mkts FunajS 13539 

m Hermes Sirategles Fund S 462X3 

niHermes Neutral Fund- 5 ikw 

m Hermes G&ifflM Ftmo s mi . 90 

m Hermes Bond Fund Ecu 1134.25 

m Hermes Sterling Fd c lW.afl 

m Hermes Gold Fund 5 43S.M 

IFDC 5 A- GROUP 

w ITOC Japm Fund Y 55949X0 

w laterbaad Fund—— —Ecu ID434.4) 

» Karen Dynamic Fund s 2224X3 

nr Malacca Dynamic Fd— S 1723.77 

■vMarac investment Fd—FF 954L16 

INCOME PARTNERS (ASIA) LIMITED 

w Asian Fixed Income Fd S 14S9S 

INTERINVEST (BERMUDA) LTD 
C/o Bank of Bermuda. Tel : 8092954600 
mHedae Hog A Conserve Fd_S 9X4 

INTERNATIONAL ASSETS FUND 
2. Bd Raval. L-2«49 Lvxemtaura 

w Europe Sud E Ecu 91X7 

1NVESCO 9NTL LTD. POB 271, Jersey 
Tel: 44 S3* 73114 

0 Maximum Income Fund— J 0.9200 ’ 

0 Starling Mngd Pffl £ 2.1200 

a Pioneer Mockifs l 4/420 

0 Gtobol Bond S 

a Ofcasan Giatm Snatagy s \7xno 

0 Asia Super Growth s 27 jcso 


CANADIAN DOLL 
0 CaltaorvA— 

MRAiir 

d Class a-i 

0 Class A-2 


a 

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I INCOME PTFL 


0 Class A- > 
0 Class A-2, 
a Class B-1, 
0 OassB*?. 


POU ND ST ERLING PORTFOLIO 

0 Cm BOOTY A - 1 

0 Category B— — _i 
U5 DOLLAR PORTFOLIO 

0 Category A . .,„c 

0 Category B I 

YEN PORTFOLIO 

0 CntvnorvA . „ . V 

0 Category F i v 

MULTI CURRENCY BOND PTFL 

0 a i 

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yS^EDERAL SECURITIES PTFL 
0 QnBB ~~ i 

MERRILL LYNCH 
EQUITY / CONVERTIBLE SERIES 
BASIC VALUE PORTFOLIO 

0 Class A % 

d CkrH B _ _ . . £ 

CONVERTIBLE SECURITIES PTFL 
d Class A s 

0 ClmB — f 

GLOBAL ALLOCATION PTFL IUS5I 

a Class A s 

0 * 
GLOBAL EQUITY PORTFOLIO 
tf C loss A 5 

EURO^EOU ITY PORTFOLIO* 

a Cta»A s 

a Class B s 

LATIN AMERICA PORTFOLIO 
0 Class A S 


d Clira B 

PACIFIC EQUITY PORTFOLIO 

0 Class A 5 9X4 

0 Class B 5 9X3 

WORLD NATURAL RESOURCES PTFL 

d Class A 5 1230 

d Class B S 11.77 

DRAGON PORTFOLIO 

0 Clan A 5 17X5 

0 Class B 1 1735 

MERRILL LYNCH EMERGING MARKETS 

0 CtossA j 1217 

0 Class B - 5 1214 

MERRILL LYNCH INC S PORTFOLIO 

0 Class a 5 BJO 

d Clcs-j 6 S BZD 

0 Class C S 8.70 

MERRILL LYNCH MEXICAN INC PORT 

0 Mexloxi Inc S Ptt( Cl 4 i 9X4 

d Mexican tne 5 PHI Cl B 5 9X4 

tf Mexican lne Peso PtflCJ AX 9X8 

0 Mexknn Inc Peso Ptti a B3 9X6 

MOMENTUM ASSET MANAGEMENT 
iv Momentum NayelMer Pert_S 9334 

m Momentum Ratobow Fa S 115X4 

m Momentum RvR R.U S 7937 

m Momentum Staomaster s Vfl.n 

MORVAL VONWILLER ASSET MGT Co 

w Wilier Japtm Y 217X0 

» WUler South East Asia— _3 1139 

» Wilier Telecom s rox? 

w Wlllerftjnas-vvillertwnd Coni 15x8 

w Wlllertunds-WlitatMnd EurEcu 123a 

wWlltoriuncfc-Wlllereg Eur_Ecu 13J7 

wWtliertundA-WilierM Italy -Ur )27iifflJ 

wWIUerlunds-Willerea NA s 11X6 

MULTIMANAGER N.V. 

m World Band Fund Ecu 1248 

m European Eou Hies — Ecu 14X9 

minoant-ji Enulltos Y 881 

mEmenrtng Markers s 2021 

mCash Enrxmaimenl s 9X7 

m Arbitrage s *.93 

m Hedge- s 1118 

NICHOLAS-APP LEGATE CAPITAL MGT 

u> NA Flexible Growth Fd S 14*33 

iv na Hedge Fund 5 129X5 

NOMURA INTL {HONG KONG) LTD 
0 Nomura Jakarta Fund— S 10.98 

NOR IT CURRENCY FUND 

m&CLUSD 5 BI7J1 

mBCLDEM-- J3M 87L13 

mBCLCHF SF 92479 

mBCLFRF. FF 4491 ID 

mBCLJPY- — Y 82*95X8 

mBCLBEF BF 2*793X8 

OO EY ASSET MANAGEMENT LTD 
21 Grasvenor StXdn WIY. 9FE-44-7I J992998 

d Odev Earogean DM 12562 

■vOde. E -raneon 6 132X7 

w Odev = jrop Growth Inc —DM 1 39/1 

ur Dae > Europ Growth Are DM 1*00? 

wOdey Euro GrthSter Inc— J S7J4 

w Odev Euro GrttiSier Are _> 57.57 

OLYMPIA CAPITAL INTI- IMC 
Williams House. Hamilton MM It. Bermuda 
Tel. 569 292-1618 Fax: 8092T5-230S 

m. f -fuburv Group S 221.92 

w J'ympto Securlle SF SF 142X8 

w C.vmpla Slurs EmergMktsS 100274 

w winch. Eastern Dragon j 17/1 

w winch. Frontier 5 277X2 

■v Winch. Fut. Olymuto Stores 16334 

w Winch. Gi Sec Inc PI 1*1— J 9.1* 

wWlncttGiSecIncPI IC1 S 9X4 

m winch. Global Healthcare— Ecu lOrt/8 
w winch. Hide inn Madison —Ecu 1 si txj 

w winch. HUalnrtSerD Ecu 1785.7D 

iv winch. Htog im i ser f Ecu 177540 

nr Winch. HldaOly5tar Hedges 103X44 

w Winch. Reser. Multi. Gy Bd-3 17.97 

w Winchester Thailand S 33/6 

OPPENNEIMER & CO- INC FdS 
0 Arbitrage International 10X70 

b Emerg Mkls Intr II— t Hto.ft. 

b inti Har!»Ki Fund II. S 180X3 

OPTIGEST LUXEMBOURG 
b OpUbcsi c.rui Fd-Fhed litc-OM 155X03 

b Oaltoesf GU Fd-Gen Sub F.DM 181X53 
OPTIMA FUND MANAGEMENT 
71 Front 51- Hamilton. Bermuda 809295-8658 
w Optima Emerald Fd L Id — S 1034 

w Opflma Fund i HUM 

n Optima Futures Fund— S I73B 

wOotlma Global Fund S 1434 

“ Ootinvi pmaita Fd Ltd — s 9/4 

, W Oaltma Short Fund S 7.11 

■v The Platinum Fd Ltd — 1 1848 

OR BITE X GROUP OF FUNDS 

0 Orbtlr* Asia Poc Fd S 5/792 

0 oral te* Growth Fd_ -I 73028 

0 OrOITr* Heallh & Envlr FdJ 5. 12B8 

. 0 Orbttex Japan Small Coo Fta 4X11* 

d Drutex Natural PesFd — O 144*44 

FACTUAL 

0 EientKv Fund Ltd S 4824*39 

0 Infinity Fund Lid 1 A2M7W 

0 Novasiar Fund— S 111*871 

0 Star High Ykrtd Fd Ltd S 151x125 

PARIBA&GROUP 

w Luxor i 

d Porveyt USA B 5 

0 Parvect Jooan 6 — Y 

0 Porvest Asia Podl B X 

0 Poraest Europe B Ecv 

tf Parvost rtoilana B_. — FI 

0 Parvus: FrcnceB — FF 

0 Pffrvesl Germany B_ DM 

0 Porvesf Obll-Ocllar B S 

0 POTVest CtHl-DM B DM 

a Porvest OWFYen B Y 

0 Porvest Oa [-Gulden B 3=1 

<J Pnrv*slQi>»-FroncB FF 

0 Parvesr 0011 -S ter B— c 

0 Porvest ODU-Ecu B- Ecu 

0 Parvni OblFBeiuv B LF 

0 Porvest 5-T Dollar B— — S 
0 Porvest 5-T Europe B— Ecu 

0 Porvest S-T DcM a.. DM 

0 Porvest S-T FRF B FF 

0 Parvesl S-T Bel Plus B BF 

0 Porvest Global B— LF 

0 Porvest im Bona B s 

0 Porvest ObJI-LIra B LH 

a Parveu ml EnuHlei B S 

d Porvest VJK B — 1 

rf Porvest USD Plus B S 

0 Parvost S-T CHF B SF 

0 Porvest Obll-Ca/ioda B CS 

0 Porvest Obll-DKK B DKK 

PERMAL GROUP 
t Emerging Mkts Hld» X 92732 1 

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international 


Recnfltment 

Every Thursday 

Gintact 

Philip Oma 
Tel.: (33 1 J 
46 37 9336 
Fax: ( 331 ) 

46 37 93 70 

or your nearest 
IHT office 
or representative 


For information on how to list your fund, fax Simon OSBORN at (33-1) 46 37 21 33 


I isfe »g 


ifCTrriTr.iTi -1*1 ^TI 1^11 ^ ' — 


Attend this major 
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meet and question the region s 
key decision-makers. 







THE MIDDLE EAST e> 
EASTERN MEDITERRANEAN 

ASTIR PALACE HOTEL, VOU LI AGMENI, NEAR ATHENS ^ 

10-11 OCTOBER, 1 99 -J ifSsUi 

■*YP 4 k iMIBM'hAU •!. R 1 C" rthf fl 

Hfra!o«fc£s&-(bnbunc 


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FOR FURTHER DETAILS 
PLEASE CONTACT: 

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Tel: (-U 7!) 856 -1802 
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Page 20 


SPORTS 



Despite Rally, 
Victory Eludes 
Broncos Again 


By Timothy W. Smith 

New York Tuna Service 

ORCHARD PARK, New 
York — On a dreary autumn 
night, with rain falling intermit* 
tently, the Denver Broncos 
were hoping to salvage some 
respect and turn around a sea- 
son on the brink of collapse 
against the Buffalo Bills here on 
Monday night. Ultimately, the 
dampness of the night would 
work to their undoing. 

The Broncos fought back 
from a 24-7 deficit early in the 
third quarter on the strength of 
quarterback John El way’s guile 
and grit. Twice they narrowed 
the Bills* margin to 7 points on 
field goals by Jason Elam. 

Trailing by 7 with 21 seconds 
to play and one last sbot at the 
Bills’ end zone on a fourth-and- 
goal from the 4, El way rolled to 
his right and threw a pass to 
Cedric Tillman that sailed 
about S yards over his head. 
The ball had slipped out of El- 
way’s hand, and so had the Na- 
tional Football League game, 
27-20. And the Broncos bad 
slipped to 0-4, tying the 1964 
Denver team for the worst start 
in franchise history. 

“We had some problems with 
wet balls all night,” Elway said, 
“f knew I couldn't run it in from 
there, so my only option was to 
throw it The ball was wet and 
anytime you have a wet ball you 
just want to get it out quickly. 
That's what I wanted to do." 

The Bills were spared another 
of 0 way’s patented fourth- 
quarter comebacks. 

“His whole career he’s been 


noted for that," said Bills safety 
Henry Jones. “It’s about time 
his luck ran out. I’m glad it 
happened tonight." 

The Bills moved to 3-1 and 
tied the Dolphins for first place 
in the Amencan Football Con- 
ference East. 

Denver's coach. Wade Phil- 
lips, who is trying to stave off 
calls for his dismissal, may al- 
ready have learned that Jack 
Faulkner was dismissed as 
Broncos coach after losing Lhe 
First four games in 1964. But 
Phillips said the way the Bron- 
cos battled back on Monday 
night gave him hope that they 
would soon be able to turn 
around their fortunes. 

Both teams suffered major 
blows to their rushing attacks. 
The Broncos may have lost run- 
ning back Rod Bemsdne for the 
season with an injured right 
knee. And Bills running back 
Thurman Thomas, who was 
having his best game of the sea- 
son, went out early in the third 
quarter with a knee injury. 

Thomas left the field under 
his own power with an ice pack 
wrapped around his right knee 
and did not return. Before the 
injury, he had 103 yards and 
two touchdowns (on runs of 16 
and 27 yards) on 17 carries. He 
was injured on a 9-yard run that 
helped set up 3-yard touch- 
down run by fullback Carwell 
Gardner that helped give the 
Bills that 24-7 lead. 

Trailing by 27-20, and with all 
three of their timeouts, the Bron- 
cos had one last shot to tie or win 
the game. They started their fi- 



Oates of Orioles 
Joins the f lanks ? 


Of Fired Managers 




..i* i JOaSHr. atM 1 : i. 

Mike GruH/Rcnicn 

Buffalo's Thurman Thomas, downed by Denver defenders, scored twice before injuring his knee in the third quarter. 


nal drive S3 yards from the Buf- 
falo goal line after a 24-yard 
punt return by Glyn Milbum. 

Elway completed a 24-yard 
pass to S hann on Sharpe on a 
fourth-and-5 from the Bills' 48. 
On a third-and-goal at the 5 
with under a minute to play, 
though, Elway didn’t see Mu- 
bum wide open in the left cor- 
ner of the end zone and threw a 
pass to receiver Jeff Campbell 
that was batted down by Jones. 

On fourth-and-goal from the 
4, the Broncos called a timeout. 


Then Elway, rolling to his right, 
threw the slippery pass that 
sailed over Tillman’s head. 


■ Cards Reject Simms Price 

Phil Simms, released by the 
New York Giants this summer 
in a salary-cap move, priced 
himself out of a chance to re- 
sume his career with the Cardi- 
nals, news agencies reported. 

“We just can’t afford him,” 
the Arizona coach. Buddy 
Ryan, said Monday. “It's like 
when you want a new set of 


curtains and you can't do it. It 
doesn't matter how much you 
want them. He wants more 
money than we’ve got." 

S imms , 38, is now a television 
commentator. He was the most 
valuable player in New York’s 
39-20 victory over Denver in 
the 1987 Super BowL 

Simms had been scheduled to 
make more than $2 million with 
the Giants and reportedly 
wanted a two-year, guaranteed 
$4 milli on contract from the 
Cardinals. The Cardinals re- 


portedly were offering SI mil- 
lion for one year because of 
salary-cap problems. 

Simms said he gave the Car- 
dinals a deadline to come up 
with a better offer and the dead- 
line passed. But he also insisted 
that the issue was more than 
one of money. 

“I didn’t want to get myself 
in a position where Fm one of 
four quarterbacks,” he said, re- 
ferring to Steve Beuerlein, Jim 
McMahon and Jay Schroeder. 

(AP, WP ) 


The Associated Pros 

BALTIMORE — Johnny 
Oates has been fired as manager 
of the Baltimore Orioles by the 
team's owner, Peter Angelos, 
becoming the third manager to 
lose his job since tbe baseball 
strike began in August 

Oates, who led the Orioles to 
a 6349 record this season, 
failed to produce the results 
Angelos had expected from a 
lineup bolstered in 1994 by the 
addition of a half-dozen high- 
priced free agents. 

Angelos openly questioned 
several of Oates’s decisions last 
year and questioned his ability 
to lead the team. Rumors of 
Oates's dismissal began in May, 
and intensified in early August 
when the Orioles fell- 10 games 
behind the first-place New 
York Yankees in the American 
League East. ■ 

When the strike began, the 
Orioles trailed the Cleveland 
Indians for the wild-card spot. 

Team sources said Monday 
after the dismissal that Angelos 
was looking for a high-profile 
manager who would get the 
most out of one of baseball’s 
highest-paid lineups. Tbe Ori- 
oles have been denied permis- 
sion to talk with the Oakland 
Athletics’ manag er, Tony La 
Russa, whose contract expires 
in October, The Baltimore Sun 
repotted Sunday. 

That story, Angelos said, 
triggered the move. 

“We couldn't let things con- 
tinue like this,” Angelos said in 
a telephone interview. “It was 
not fair to Johnny. We would 
have probably ended up mak- 
ing the same decision, but that 


newspaper story forced 
act quicker than anticipated, 
Baltimore was 291-270 (.519} 
in Oates's nearly four yean -as 
manager. Oates, 48, took over 
for Frank Robinson on May 23, 
1991. his first managerial jobin 
the major leagues. 

Oates joins Hal McRae -of 
Kansas City and Butch Hobson 
of Boston as managers who 
have lost their jobs since the 
strike began Aug. 1L 

Oates made a statement 
through the team. 

“I want to thank the Balti- 
more Orioles organization for 
giving me the opportunity to 
manage at the major-league lev- 
d," he said. “I leave the O's 
with my head held high. Last 
but not least, 1 would like to 
thanlc all the wonderful Orioles 
fans for their support and' en- 
couragement.” 

Angelos led a group of inves- 
tors that bought the team for. a 
record SI 73 million last August 
and inherited Oates. The' Ori- 
oles made a run in 1993, and 
Angelos subsequently rewarded 
him with a two- year' con tract. ' 
After Oates took over in 
1 99 1, the Orioles finished in last 
place with a 54-71 record. But 
they improved to 89-73 in 1992, 
then went 85-77 to finish in- 
third place in 1993. 

Baltimore was expected to be 
a contender this year after .An- 
gelos spent millions on Rafael 
Palmeiro, Sid Fernandez, Chris 
Sabo, Lee Smith and Mark 
Eichbom. The Orioles ended tip ; 
spending only four days in first 
place — acme after April 19. 



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Fate of NHL’s Season 
To Be Decided Friday 


The Associated Press 

TORONTO — The National Hockey League season is still 
set to begin Saturday night, but Commissioner Gary Bettman 
said he would decide on Friday whether to postpone it. 

On Tuesday, there were strong signs that the start of the 
season would be delayed. The Anaheim Mighty Ducks canceled 
their hold reservations in Dallas for Friday and the Boston 
Bruins were looking for ice time for playoff hockey in July. 

Bettman said a decision would be made Friday so that 12 
teams would have time to caned their iravd plans to opening- 
night destinations for Saturday’s scheduled start of the season. 

Bettman arrived Tuesday for a morning meeting with Bob 
Goodenow, the union’s executive director. If the two pick up 
where they left off Monday, things look bleak. One insider 
said “nothing was accomplished” during five hours of negoti- 
ations Monday. 

Negotiators for owners and players met in large and small 
groups trying to find common ground for a collective bargain- 
ing agreement on two of three key issues — a tax to help small 
market teams and salary arbitration. 

The NHL is proposing to tax teams that exceed the league’s 


average salary, which was approximately 516 million in 1993- 


: money would be pooled to hdp small-market teams. 

Players resist the proposal because they feel it is a salary 
cap. Instead, they have proposed a 5 percent tax on salaries 
and revenues, with the money being pooled to help small- 
market teams. The NHL opposes this because it feels it does 
not address the issue of escalating salaries. 


SCOREBOARD 


Vis 


Monday's Borne 
Buffalo 27, Denver 20 


NFL Standings 


■v^va* 


NHL Preseason 


AMERICAN CONFERENCE 
East 


'■*. ./.-A .* • I.TJl *=■ 

Japanese Leagues 


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W 

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Pts 

PF PA 

Buffalo 

3 

1 

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J50 

83 85 

Miami 

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■750 

12fi 101 

Now England 

2 

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0 

500 

124 122 

M.Y.Jaf» 

2 

2 

0 

500 

40 72 

IndJanaaolH 

1 

3 

a 

550 

80 97 


Central 




W 

L 

T 

PH 

PF PA 

Cleveland 

3 

. I. 

0 

.758 

*1 51 

Plttcburgh 

2 

2 

a 

500 

70 87 

Houston 

1 

3 

8 

JS0 

AS 03 

Cincinnati 

0 

4 

0 

MO 

71104 


West 





W 

L 

T 

PIS 

PF PA 

San Dleoo 

4 

0 

0 

1.000 

114 78 

Kansas Ctfv 

3 

1 

a 

.750 

84 60 

Ssattto 

3 

1 

8 

JS0 

10A 53 

LA, Rataera 

1 

3 

0 

350 

95 134 

Dsflvor 

0 

4 

0 

MO 

72137 

NATIONAL CONFERENCE 



East 





W 

L 

T 

PfS 

PF PA 

N.Y. Glams 

3 

D 

0 

tom 

79 A3 

Dallas 

3 

1 

o 

M7 

43 4A 

PMiadslpMa 

2 

1 

8 

M7 

fiA 57 

Washington 

1 

3 

8 

■250 

BO 118 

Arizona 

0 

3 

0 

M0 

2« AA 


Central 





w 

L 

T 

Pts 

PF PA 

Minnesota 

3 

1 

0 

258 

100 48 

Chicago 

2 

2 

8 

500 

74 88 

Dstroit 

2 

2 

8 

500 

71 78 

GfwnBoy 

2 

2 

0 

500 

47 50 

Tampa Bay 

1 

3 

8 

550 

43 70 


West 





w 

L 

T 

PI* 

PF PA 

San Francisco 

3 

1 

0 

730 

119 70 

Atlanta 

2 

2 

• 

500 

94 94 

LA. Rams 

2 

2 

0 

500 

42 77 

Nsw Orleans 

' 1 

3 

a 

550 

43 99 


Yomlurl 

Ownlchl 

Hiroshima 

Haahfn 

Yofconomo 

Yoftuir 


Central League 
W L T 


Pet. 

532 

524 

512 

■484 

.400 

M7 


CB 


Monday's Games 
Ottawa 5. PtilladetDtila 2 
Washington 4. Quebec 2 
N.Y. Islanders X N.y. Rangers 1 
Toronto 2. Chicago 1. OT 
St. Louis X Winnipeg 3 


1 

2to 

t 

4Vj 

8 


Tuesday's Resale 
Yokutt 10. Hiroshima 3 
HamMn X Yokohama 2 
Yomlurl vs. Chuntchl. pod. rain 
Pacific Leasee 
W L T 

73 58 1 

(8 55 2 


Seibu 

Kintetsu 

DoW 

Orix 

Lotte 

Nippon Ham 


Pci. 

5*3 

553 

548 

528 

.421 

J58 


GB 


5 

6*4 

8 

21 
28 Vb 


Tuesday's Rosette 
Kintetsu fi. Orix 1 
Lolte 4. Nippon Ham 1 
Seibu vs. OaleL npd. rain 




ENGLISH PREMIER LEAGUE 
Sheffield Wednesday l, Leeds I 
Standings: NencasHel*, Blackburn 17. Not- 
tingham Forest T7. Manchester United IX 
Chelsea IX Liverpool 11, Manchester city 11. 
Leads 1 1, Aston Villa 7, Wimbledon 7, Norwich 
9, Tottenham *, Southampton *. Arsenal & 
Ipswich 7. Queens Park Range r s 6, Sheffield 
Wednesday fi, Lelcesierxwesf Horn & Coven- 
try X Crystal Palace X Everton X 
INTERNATIONAL FRIENDLY 
Japan X Australia 0 


BASEBALL 
American League 

TEXAS— Signed 2-year Mover develop- 
ment cnntrods with Oklahoma City. AA and 
Tulsa TL. 

TORONTO— Old not renew contract of 
Dous Ault manager of their affiliate In GulF 
Coast League. 

National League 

CINCINNATI— Agreed la terms wllti 
Thomas Howard, outfielder, and Lenny Har- 
ris. Intlelder, an 2-vear contracts. 

BASKETBALL 

Mat tonal Basketball Association 

INDIANA— Signed Dale Davis, forward, to 
multiyear con tract. Signed Bryan Caver and 
Sieve WOodberrv. guards. 

MINNESOTA— Agreed to terms with Don- 
veil Marshall, forward, on muttlvaar contract. 

NEW JERSEY — Named Jonn Wetiel assis- 
tant head coach. 

ORLANDO— Named Richie Adubara assis- 
tant cooch and Tom Sterner pro scout and 
assistant coach. 

FOOTBALL 

National Football League 

ARIZONA— Signed Barry Word, running 
batt. 

Ml AMI— Put Terry Kirbv, running bock, on 
injured reserve. Re-signed Aaron Graver, 
running back. 

PHILADELPHIA— signed Tom McHale, 
offensive lineman, to 1-year contract. 


HOCKEY 

HaNoocri Hockey League 

EDMONTON— Sent Jaoauln Gage, goalie, 
and Josef Clernv, left wing, to Cane Breton. 
AHL. and Ken McRae, light wing, to Cleve- 
land. IHL. 

HARTFORD— Assigned Manny Leoace. 
goa B ender, to Springfield. AHL. 

LOS ANGELES— Agreed to terms with 
Rich Toechet right wing, on 4- year confroct. 

N.Y. ISLANDERS— Sent Dan Plante, right 
wing : Derek Armstrong and Chris Marlnucd. 
centers; and Gord Din eon and Chris Luongo. 
defensemen, to Denver, IHL. 

PHILADELPHIA— Assigned Scott lo- 
Grxnd. ooai tender; Andre Faust, left wing; 
and Vaclav Prospal and Jan Uplansky, cen- 
ters. to Hershev. AHL. 

QUE BEG— Sent Rene Corbel and Reginald 
Savaoe. left wtnos; Dwayne Norris, center; 
and Janne Laukkanen end Jan Kletnm, de- 
fensemen. to Cornwall. AHL. 

ST. LOUIS— Assigned Dave Roberts, cen- 
ter; Terry HoMnger, defenseman; and Geoff 
Sargeam. goaitenaer. to Peoria, IHL. 

TORONTO— Signed Adam Oeodmarsh. 
canter, to multiyear contract. Assigned 
Alexei Kudashav, center, to St. JohnX AHL 
Designated DavW Sacco, center, and Chris 
Snell, defenseman, tor assignment. 

COLLEGE 

NCAA— Placed De Paul's men's basketball 
program an probation for one year lor viola- 
tions Involving a booster who provided free 
apartments and meals to seme Movers. 

AUBURN— Dee GIUH*. associate athletic 
director, retired. Promoted Terry wtndle to 
senior associate athletic director and chief 
financial officer and Jay Jacobs to associate 
athletic director. 

CENTENARY, NJ.— Homed Joan Room 
trainer, Joe Martino men's assistant basket- 
ball cooch and Bab Lucas men's part-time 
assistant basketball coach. 

LOUISIANA TECH— Named Jim Oakes 
athletic director. 

NYU— Named Steven Brown Ice Iwckev 
coach. 


Tigers 9 Anderson Assails 
' Crime 9 of Orioles 9 Owner 


Washington Pan Service 

WASHINGTON — One of Johnny Oates's fiercest com- 
petitors, Sparky Anderson of tbe Detroit Tigers, may wdl 
have been one of the people most upset by his firing. 

“It's a crime,” said Anderson, 60. “He's one of the classiest 
men I've ever managed against I can't understand what 
Baltimore is doing. What does he have to do? I’ve been 
around 25 years, and my last five were total failures. I know 
what it is to fail, but I'm still around. Here he is doing a great 
job, and he’s fired” 

From the day Oates was hired as manager on May 23,. 1991, 
Anderson has been one of his biggest supporters. 

“Not many people speak out Uke this,” he said by phone 
from his home in Thousand Oaks, California. “Why am I doing 
it? Let's face it. I'm dose to the end, and I’m tired of watching 
people get kicked around and nobody sticking up for them.” 

“People say not to burn bridges," Anderson added. "But 1 
don’t mind burning bridges when I know I’m right He was 
really a good person. He was so concerned about his players. 
You never heard him bad-mouth his players. I think the whole 
thing stinks." 

“He's one of 28 managers in the majors,” he continued. 
“None of the other 27 would have won a pennant for 
Baltimore because tbe Yankees were unbeatable in '94. Where 
are we going? You must have a [manager] there year after year 
after year. He has to be part of the city, part of the franchise! 
there like concrete. But you have these people [owners] come 
in with lots of money who don't understand the game. That's 
why I think Baltimore has made their gravest mistake ever.” 


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International Herald Tribune 

I STANBUL — Where East meets West — that has been the 
deflation of this port on the Bosporus since travel began. 
Where barriers stand between men, sport is able to overcome. 

These two concepts will be thoroughly examined on Wednesday 

night That is when Manchester 
Rob % United, the English champion, re- 

Hughes f^dht tura s to the Ali Sami Yen stadium 

! — — _ to play Galaiasaray, the Turkish 

_ _ side that elhninauxl it from the 

European Champions* Cup 10 months ago. 

Revenge, in the sporting vernacular, is too inflammatory a word 
l ? 'P ie 1 C0n ^ es | should stretch heart and mind and sinew; it 
should be about winning, losing or drawing. If only that were at 
stake, if only sport were on trial, this match would be the stuff of 
international sporting exchange. 

Alas, even to those of us who cherish soccer as the ling nfi franca 
of human activity, the game (hat can reach parts other thinpc dare 
not go, there is deep foreboding. This match game should not take 
place m Istanbul 

No authority —not the British, the Turks or UEFA, European 
. soccer’s governing body — has resolved the 160 cases of alleged 
wrongful arrest and deportation of Pngli^ men and women when 
£ Galatasaray last met Manchester United in November. 

No guarantee, other than a 24-hour armed police guard for the 
Manchester players, has been given this time around. Consequent- 
ly, regardless of whether vou accept Tur kish or British versions of 
wbai happened a year ago, there remains a threat to life, limb and 
public disorder writ so large that a competent authority would 
have moved the match to neutral ground. 

This abandons the tenet of sporting exchange. It forfeits the 
opportunity to right the past wrongs. It shows weakness to malevo 
lent minority groups who attempt to use sport as a show of power. 

Yet priority has to be safety — and safety is not assured. 
Whatever the diplomatic attempts have been between governments, 
whatever friendly gestures now put on by the two clubs, we are not 
given sufficient explanations as to why Istanbul riot police invaded 
the rooms of Manchester fans — among tham a 51 -year-old deaf 
woman — and terrorized them, held them in custody, and 
deported them without allowing them to see the game last year. 

A LMOST a year later there are no apologies, no soothing words, 
xVzso assurances other than the claims of the Istanbul police that 
they know from British police sources that 40 known hooligans 
intend to revisit the stadium, and that “this time we wiH. be tougher 
and more ready.” 

Meanwhile, instead of 7 00 Manchester supporters, there will this 
time be undo' ISO. UEFA had wished for none. In July, Ren£ 
Ebed£ head of competitions for UEFA, stated:.“It is the duty of the 
British Foreign Office to get involved. Manchester United fans 
should be asked to stay away. Last time it was the Turkish police 
who overreacted, but United fans should realize that you cannot be 
intoxicated on the streets in Turkey, or even appear to be so.” 

So it is an offense, triggering police baton assault, to appear to 
be inebriated? Heaven help us. If there is such a fearful disparity 
between cultural responses, then IJEFA’s responsible recourse 
was surely to order the two legs of this contest to be played on 
neutral ground — in Paris, Rotterdam, Copenhagen, whoever. 


Cascarmo Scores Twice as Marseille Tops Olympiakos, 3-0 

Juventus, Parma, Bordeaux 


And Napoli Also Triumph 





^ , Rada Sishcti/RcoMw 

Traozonspors Aidceak Sonnes was pressed by Dinamo Bucharest's MihaJ Pana during the UEFA Cup mati^ Tuesday. 

Trainer at Banned Australia Stable Dies 


Compiled by Our Staff From Dispatches 

BRISBANE, Australia — The Austra- 
lian racehorse trainer Vic Rail died in a 
hospital here on Tuesday morning, a week 
after he was hospitalized with symptoms 
similar to a virus that has killed 14 horses. 

Rail, 49, died after suffering from a 
heart attack at Brisbane's Mater Hospital, 
where he was in the intensive care unit with 
a respiratory complaint that specialists 
had been unable to diagnose. 

All racing in die south of Queensland 
state has been halted while the authorities 
try to establish the cause of the illness that 
has killed 14 horses over the past week at 
two stables — those of Rail and the adjoin- 
ing stables of John Fitzgerald. 


Rail was best known as the trainer of Vo 
Rogue, who won over $2.3 million in prize 
money from 1987 to 1991. Doctors nave 
not been able to determine whether there is 
a link between his Alness and the mystery 
horse virus. 

The state racing minister. Bob Gibbs, 
said a link had not been discounted al- 
though there was no medical basis as yet 
for such a theory. 

Poisoning has been ruled out as a cause. 
Ian Douglas, exotic diseases director for the 
Department of Primaiy Industries, said vet- 
erinary experts had agreed that a virus was 
the cause, but no known condition has been 
revealed by pathology tests. 

All the horses either suffocated or were 


destroyed after suffering a rapid increase 
of fluid in their lungs. 

Douglas said the disease did not appear 
to have spread beyond the two stables. 

“Although an infectious agent may be 
involved, it may not be highly contagious, ” 
he said. 

The authorities have ruled out African 
horse sickness, equine flu, equine herpes 
and three types of encephalitis as possible 
causes. 

Gibbs said Tuesday that the current ban 
on racing and horse movement in southern 
Queensland would not be lifted until there 
was no chance of the disease spreading. 

(AP. Reuters) 




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East is foibidden from meeting West in Istanbul 
2 hope it is a good match. I hope every supporter on both sides 
enters and leaves the stadium in sportsmanship. And I hope the 
excessive security proves as overdone as it appeared Monday. 

Same erf the Manchester players had been allowed out of the 
coniines of their palatial hotel a former home of an Ottoman 
emperor. They had gone into the city center with their own 
security guards. 

T HEY returned by taxis, but fleetingly three players were 
unaccounted for. At the point at which one United security 
man began talking urgently into his mobile phone, the cab drew 
up. “What kept you?” the guard politely inquired. 

“We stopped off to buy chocolate,’’ came the reply from the 
United winger Lee Sharpe. 

Boys wiD be boys, players will be players, innocence offers a 
thin shaft of light. The players, perhaps inadvertently, had mixed 
after all with Turks. May the match prove as much a time for 
freedom, expression and whim. 

□ 

As the Champions’ League, the UEFA Cup and the Cup 
Winners’ Cup occupy soccer's most affluent continent, there is 
_ it news from the United States. 

Pou may recall the dark fears for Tab Ramos, the American 
whose skills were blunted by the elbow from Brazil’s Leonardo in 
the World Cup quarterfinal in Palo Alto, California, on July 4? 

Carried off, operated on for a fracture dose to the temple, the 
U.S. playmaker had been warned by one neurologist that to play 
again would be to risk horrendous consequences. Ramos has since 
received several more specialist opinions, and has been given the 
green light to play. 

The scare, he believes, is over. And though Real Beds, the 
Spanish dub that holds his rights, had gambled by signing up 
£imorc foreigners than it can play, the word from the States is that 
T Ramos, clever and cunning performer that he is, might soon be 
fully recuperated and ready to make his way back to the pitch. 

Few Americans play this sport so intuitively or so inventively as 
Ramos. If his brain scans are as dear as he says, if his courage and 
conviction to resume axe as deep as they sound, there will surely be 
European takers for this quiet American. 

He, after all, was an innocent victim. And whether it be 
innocence deprived of traveling to watch games or to play them, 
ds free expression the world over. 

Rob Hughes a an rtf tuff ef 7fcf 71ma. 


SIDELINES 


soccer needs 


Davis Cup Final Is Set for Moscow 

MOSCOW (Reuters) — Russia, surprise semifinal victors over 
Germany, will contest the Davis Cup final against Sweden in 
Moscow, the Russian Tennis Association said on Tuesday. 

Russia beat Germany, 4-1, in Hamburg to secure its place in the 
final for the first lime, handing the Germans their first home 
defeat in nine years. The tennis association said the venue for the 
Dec. 2-4 final of die world's most prestigious team tennis tourna- 
ment would be decided by Oct. 10. 

Capriati Confirms Comeback Delay 

NEW YORK (NYT) — Jennifer Capriati confirmed Monday 
that her comeback, intended for next week in Europe following a 
year-long layoff from competitive tennis, has been postponed due 
to a groin strain she re- aggravated during a practice session two 
weeks ago. Capriati was uncertain when she would make her 
comeback but said she intended to do so this year. 

Capriati, 18, unranked and unseeded due to her absence from 
the Tour since a first-round loss at (he 1993 U.S. Open, an- 
nounced last week that she had received wild cards into the main 
draws of the European Indoors at Zurich and the Porsche Grand 
Prix at Filderstadt, Germany. 

“I was really looking forward to playing next week and return- 
ing to the WTA Tour,” she said Monday. “This is disappointing 
but I'm confident I’ll play again soon." 

For the Record 

Chad Hundeby of the United States broke the English Channel 
swimming record on Tuesday, going from Dover. En gl and, to Cap 
Gris-Nez, France, in 7 hours, 17 minutes. The previous mark of 
7:40 was set by Penny Lee Dean in 1978. (AP) 

The Ferrari Formula One team on Tuesday withdrew its appeal 
of a 550,000 fine and a suspended race ban for vandalism at the 
Portuguese Grand Prix. On Saturday, the team was pen alize d 
after mechanics helped break down a locked door to leave the 
Estoril track late Friday. (Reuters) 


Krabbe Files Suit Against IAAF 

BONN (Reuters) — Katrin Krabbe of Germany, the for- 
mer double world sprint champion, has filed a lawsuit seeking 
1 million Deutsche marks ($645,000) in damages from track 
and field organizations over her two-year doping ban, the 
newspaper Die Welt reported Tuesday. 

Krabbe filed her suit in a Munich court on Monday against 
both the German athletics association and the International 
Amateur Athletic Federation, the paper said. She also de- 
manded an immediate end to the ban. 

Krabbe, the 100- and 200-meter world champion in 1991, 
had announced her intention to take the associations to court 
earlier in the year. She claims that two years is too long to ban 
her from carrying out her profession and that the IAAF was 
acting outside its regulations. 

She and her teammaies Grit Breuerand Manuela Derr were 
banned for two years by the IAAF in August 1993 after they 
admitted having taken the banned drug clenbuterol. 


Compiled in' Our Stiff From Dispatches 

PARIS — The former Irish 
international striker Tony Cas- 
carino kept up his recent scor- 
ing blitz with two goals for 
Marseille as the French Second 
Division leaders beat Olympia- 
kos of Greece, 3-0, in the UEFA 
Cup on Tuesday. 

Marseille reached the second 
round with a 5-1 aggregate vic- 
tory to become the first French 
second division side for 32 

European soccer 

years to reach the second round 
of a European dub competi- 
tion. 

The last team to do that was 
St. Etienne in the Cup Winners’ 
Cup in 1962, but Marseille’s 
status as a second division side 
was forced on them as punish- 
ment for a match rigging scan- 
dal last year. 

Cascanno, one of the players 
brought in to bolster the former 
European champions following 
the departure of many of its star 
players as a result of" the demo- 
tion, added to the 15 goals he 
has scored in 12 league matches 
this season, with strikes in the 
53d and last minute. 

He pushed the ball past 
Olympiakos’ goalkeeper Kjria- 
kos Tohouroglou for his first 
goal, and sealed victory in the 
last minute, crowning his 
team’s domination throughout 
a one-sided match. 

Despite his success this sea- 
son Cascanno, 32, who joined 
Marseille after two largely un- 
productive years with Chelsea 
in London, was left out of the 
Irish squad for their next Euro- 
pean Championship qualifier 
against Austria on Oct 12. 

In Turin, striker Fabrizio Ra- 
vanelii scored all five goals — 
four of them in an eight minute 
spell — to give Juventus a 5-1 
victory over CSKA Sofia and a 
place in the second round. 

His tally was just one short of 
the individual single-match 
scoring record in European 
competition which stands at six 
goals and was set by Lothar 
Emmerich when Borussia Dort- 
mund beat Floriana of Malta, 
8-0, in a Cup Winners’ Cup 
match first round, second leg tie 
in 1965. 

Prematurely grey at 25, Ra- 
vanelli began his spree in the 
ninth minute, before adding the 
rest in an eight minute blast in 
the 75th. 79lh. 81sl and 83d 
minutes. 

Midfielder Gianfranco Zola 
scored twice to give AC Parma 
a 2-0 victory over visiting Dutch 
dub Vitesse .Arnhem, advanc- 
ing the Italian squad on a 2-1 
aggregate. 

Zola, a member of Italy’s na- 
tional squad, put Parma’ahead 


in the 23d minute on a powerful 
free kick that froze the Arnhem 
keqper on its way into the up- 
per-left corner of the goal. 

The Italian international 
sealed the aggregate advantage 
in the 62d minute from two me- 
ters OUL 

Germany’s Bayern Leverku- 
sen held the Netherlands' PSV 
Eindhoven to a 0-0 draw here 
Tuesday, gaining the Germans 
a second-round place after their 
5-4 first-leg victory. 

Eindhoven’s star Brazilian 
Ronaldo was neutralized by 
tight German marking and the 
Dutchmen could find no way 
through a well -drilled Leverku- 
sen defense 

In London, the Brazilian 
striker Artur Oliveira, who 
missed a penalty in the first leg, 
redeemed himself by scoring a 
last-minute penalty to put Boa- 
vista of Portugal into the sec- 
ond round. 

Eintracht Frankfurt, winner 
of the tournament in 1980, 
made sure of advancing with a 
2-0 victory over SCT Otimpija 
of Slovenia for a 3-1 aggregate 
success. 

The Ghanian international 
striker Anthony Yeboah’s 84th 
minute strike sealed the Slove- 
nians’ fate after Mirko Dick- 
haut’s 9th-minute opener. 

Napoli, UEFA Cup winner 
in 1989, also made sure of its 
expected place in the second 
round with a 31 st-minute Ren- 
ato Buso goal, giving them a 1-0 
victory against Skonto Riga in 
Latvia for a 3-0 aggregate tri- 
umph. 

Bordeaux of France complet- 
ed the formality of eliminating 
Lillestrom of Norway, winning 
2-0 away from home for a 5-1 
aggregate triumph. 

The Norwegian defense, 
playing well below par, seemed 
paralyzed when their defenders 
failed to stop Zinedine Zidane 
from scoring 1-0 after one min- 
ute and 40 seconds. 

Kispest Honved of Hungary 
crashed 3-1 at home to Twente 
Enschede of the Netherlands, 
but still managed to squeeze 
though 5-4 on aggregate after 
winning the first leg 4-1 away 
from home two weeks ago. 

AIK Solna of Sweden made 
it through to the last 32 on the 
away-goals rule after drawing 
2-2 with Slavia Prague in the 
Czech Republic despite trailing 
2-0 by the 35th miaute. 

Jan Suchoparek pul Slavia 
ahead with a penally in the 26th 
minute and Kadek Bejbel made 
it 2-0 nine minutes later. 

But Dick Lidman scored im- 
mediately and Gary Sundgren's 
72d-minute equalizer was 
enough to send the Dutch team 
into the next round. 

(AP, Reuters, AFP) 


CROSSWORD 


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40 Clothed 

4 1 Dynamite 

42 See instructions 
45TwitS 

40 Bowery 

«t Sacred 
46 Moots 

si See instructions 
SS "Deutschland 

alles" 

» Doughnut, e.g. 
58 Oratorio solo 

ss Martin 
nickname 
M Separate 
si Miss 
Durbeyfiald 
82 British carbine 
esKathJe Lee's 
co-host 
84 Blue-pencil 

DOWN 

i Mine waste 


2 Uneofthe 
Hebrides 
3Auelsub|ect 
4 Summer 
serenaders 
s Plan 

8 Madrid museum 

7 Wilhelm's one 

8 Art style prefix 
8 National debt 

figure 

10 Lite 

11 Award since 

1958 

12 Protein-rich 
edible 

is Look to be 
21 Shea squad 
£3 Urge 

29 Capacitor unit 
28 Yemen of old 

27 Mr. Benchley 

28 Domain 

29 Silver Star, e.g. 

30 Expanses 

31 Wild West 
justice 

32 Parking lot 
mementos 

34 Maui dances 

37 Curved sword 

38 Sandbox friend 

41 Labs 

43 Fairy king 

44 Jamaican 
export 

49 Banquet 
recitations 

47 MusJrm nymph 

48 Toggery 

48 Sad news item 

M Artist Magritte 
si Rocky height 

92 Angry 

93 Pending, as e 
legal decree 

94 Bridge seat 

57 Unlock, inverse 


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© New York Times /Edited by WiH Shorts. 

Solution to Puzzle of Sept, 2T 


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Page 22 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, SEPTEMBER 28, 1994 




OBSERVER 


Why Are They Gloating? 


By Russel] Baker 

N ew YORK — Republi- 
cans are ecstatic. They say 
aU signs indicate the voters are 
sick and tired of President Clin- 
ton. They say this could mean a 
Republican takeover of the 
Congress this year. And even 
sweeter than that — a Republi- 
can president elected in 1996. 

It makes you wonder whether 
Republicans ought to have a 
head examination. Have they 
thought this thing through, be- 
yond the joy of election night, 
the exultation of being televised 
crying, "We’re Number One!”? 
Surely not. 

Wanting to be responsible 
for the Congress is symptomat- 
ic of a death wish. The Ameri- 
can people hate the Congress. 
That’s what all the polls show, 
and what truth can we cling to if 
we don't believe polls? 

□ 

Republicans are just as good 
as everybody else at kidding 
themselves. They naturally be- 
lieve everything will be differ- 
ent once Republicans are in 
charge at the Capitol. 

A few things will be different, 
all right. Newt Gingrich, who 
has done more than any other 
politician to convince people 
that Congress is a rotten crowd, 
will be Speaker of the House. 

Will Gingrich use his new 
power to make Americans stop 
hating the Congress? Are 
America and all the ships at sea 
just wailing for Lhe “All's Wdl” 
cry from Newt so they can pitch 
in and help Congress do good 
Republican things? 

Hey, there’s a problem: If 
Rraublicans take charge they 
will have to come up with some 
good Republican things to do, 
yet their record suggests that all 
they want done is nothing. 

stifi- 


this, but not by people who ex- 
pect their Social Security checks 
to keep coming, or by compa- 
nies that expect their federal 
subsidies to keep flowing, or, 
for that matter, by every uving 
citizen except those devoted to 
pure conservative principles. 

Except for this noble minor- 
ity, Republicans in power will 
feel obliged to do something: 
something Republican. 

□ 

Imagine Speaker Gingrich 
trying to lead a Republican 
Congress to passage of his par- 
ty’s great Do- Something Act: 
What can poor Newt expect but 
rebellion in his own party? The 
political organism's biology 
compels it always to do what it 
has always done before. 

In any case, what is the great 
Republican Something waiting 
to be done? The Norm Ameri- 


Plenty of nothing. And justil 
ably so, they assure us, because 
nothing was far better than the 
catastrophic somethings that 
Clinton wanted done. 

There's a lot to be said for 


can Free Trade Agreement, a 
quin tessen dally Republican pro- 
ject, was passed by Republicans 
helping Clinton crush the old- 
time Democrats. What’s left? 

Well, there’s always cutting 
the capital-gains tax. Cutting 
taxes is fun for everybody, and 
cutting the capital-gains tax is 
fun for Republicans, which is 
probably why Democrats never 
let President Bush do it. 

□ 

This brings us to the alarming 
glee with which Republicans 
look forward to winning the next 
presidential election. They obvi- 
ously expect beaten Democrats 
to submit sweetly to another Re- 
publican president, as they did 
to the charming Reagan. 

They ought to think this over. 
The extraordinarily poisonous 
attacks on President Clinton, 
led or encouraged by Republi- 
cans, are leaving American 
politics thoroughly poisoned. 
After watching their own presi- 
dent tom to pieces by unrelent- 
ing partisanship. Democrats 
will surely be itching to return 
the favor, thank you. 

New York Tuna Service 


’Pulp Fiction’ and Facts: 



By Bernard Wemraub 

New York Times Servlet 

L OS ANGELES — Lawrence 
Bender has, without question, 
the smallest office of any big-time 
producer in Hollywood. 

It's a windowless and cramped 
space, with a rental desk and couple 
of movie posters tacked onto a wall. 
And Bender doesn't limit his frugal- 
ity to the workplace. When the 36- 
year-old producer flies to New York, 
his hometown, to make a film, he 
sleeps on sofas in his friends’ apart- 
ments. 

"Someone said to me: ’Don't they 



say: 

stand. “They” is “me.”’ of 

spending 510,000 on a hotel, I could 
get another crew person. I can’t get 
away from the fact that I want to put 
everything In the movie.” 

Bender’s latest project is “Pulp 
Fiction,” directed and written by his 
friend Quentin Tarantino. A violent 
and often comic drama inspired by 
the lurid crime Action of the 1930s 
and 1940s, it was the winner of this 
year’s Golden Palm at the Cannes 
film festival 

With an ensemble cast that in- 
cludes John Travolta, Bruce Willis, 
Uma Thurman, Harvey Keitel, 
Christopher Walken and Samuel L 
Jackson, it is opening in U. S. the- 
aters on Oct. 14. 

“Pulp Fiction” is one of three films 
produced this year by Bender. The 
others are “Fresh,” an urban drama 
that opened last month to generally 
positive reviews, and “Killing Zoe,” 
about a Paris bank heist. 

His first movie was the 1992 cult 
hit “Reservoir Dogs,” also written 
and directed by Tarantino. The film 
cost SI J million and has grossed $20 
million worldwide. It also estab- 
lished Tarantino as a director of sig- 
nificance. 

Now, as part of a new wave of 
fil mm akers whose idiosyncratic taste 
and sensibilities have seized the at- 
tention of the Hollywood establish- 
ment, Bender, a onetime ballet danc- 
er and a sometime actor, and 
Tarantino, have been sought out by 
many studios. 


Except for a loose arrangement 
with Miramax, a division of Walt 
Disney Co., however-, the two have 
steered clear of any involvement with 
a studio that would erode their inde- 
pendence. 

Characteristically, Bender’s next 
two films cany an individual stamp. 
One of them, “White Man’s Bur- 
den,” starring Travolta and directed 
by Desmond Nakano, depicts a ra- 
cially charged world in which blacks 
are a powerful majority while whites 
are a poor, unemployed, powerless 
minority. 

The other, “Four R corns” in- 
volves a bellman in a Los Angeles 
hotel who moves from room to room 
and dopes with four totally disparate 
couples. 

“Each couple is crazier than the 
next,” said Bender. The film has four 
different directors, one of whom is 
Tarantino. 

Bender, a casual and friendly man 
who speaks with an unmistakable 
New York accent, has an obvious 
talent for raising money and financ- 
ing movies. But he plays it down in 
favor of his aesthetic side. 

“I hate to say I'm a creative type 
because it sounds so funky,” he said. 
“But because of my background I 
look at movies differently than other 
producers. I look for thing s with 
movement and character and color.” 

Still, there are other personal sat- 
isfactions. “What -I like about pro- 
ducing,” he said, “is the feeling you 
have when you get the money and 
make the deal. Making the deal is 
like the thrill of victory. It’s empow- 
ering.” 

How he turned into a dealmaker, 
after years in New York as a strug- 
gling actor and dancer, am ayes him. 
“Ihad, like, six call-backs for 
'Cats,' ” he said with a laugh. “Didn't 
make it” 

He was bom in the Bronx and 
brought up in New Jersey, the child 
of parents who were teachers and 
later became psychotherapists. He 
earned a degree m civil engineering 
at the University of Maine, but his 
heart was in dancing. 

He won a scholarship to the Louis 
Falco dance troupe and supported 
himself by working as a flamenco 
dancer. A series of injuries ended his 



asked me if there was one actor hr the 
world Fd want in this movie. I . told 
her Harvey Keitel And she knew 

him. ” . . / . 

Within a week Keitel had phoned 
Bender to tdl him he wanted to ap- 
pear in “Reservoir Dogs.” 

Bender said: *T had two very dif- 
ferent feelings. One was that this was 
the most exciting thing in my life; I 
was gang to make a real movie, 
something special. 

“At the same time, I knew .that 
once Harvey was in, it was going to 
be a bigger movie than I thought and 
it would somehow be impossible for 
me to be in it as an actor. It was 
complete elation and sadness. I was 
gojng^to have to put off this part of 

The bulk of the cost of “Reservoir 
Dogs” was paid by Live Entertain- 
ment, a video company that a friend 
of Bender's, the director Monte 
H eilman, persuaded to back the 
film. 

Although several top actors sought 
roles in “Pulp Fiction,” Bender and , 
Tarantino insisted on casting Tra- 
volta, whose career had ncifc- flour- 1 
ished in recent- year*.' . ■ % 
“People said, ’John Travolta^ 


'• i 

\\ 

■ V 




Marina Rodi for The New Y«k Hon 

Filmmaker Lawrence Bender: “ I look at movies differently.” 


dance career and he turned to acting. 

“I was a triple threat,” he said. “I 
was a dancer, singer and actor. But I 
was threatening nobody.” 

He moved to Los Angeles in the 
early 1980s to pursue his acting ca- 
reer, worked for three years in vari- 
ous Aim production jobs and decided 
the only way he would ever act was to 
produce a movie and put hims elf in 
1L 

After meeting several friends, 
among them the director Scon Spie- 
gel (who later was co-author of “The 
Rookie”) and Boaz Yakin (who di- 
rected “Fresh”), Bender began eking 
out a living producing horror f ilms 
that went straight to video. (One of 


them is the video cult favorite “The 
Intruder.") 

In 1 990 he met Tarantino, who had 
been struggling for years to have one 
of his scripts produced. Tarantino 
gave Bender a screenplay about a 
bank robbery gone awry. It was 
called “Reservoir Dogs.” 

“He had written it in three and a 
half weeks, and it was amazing,” said 
Bender. “The dialogue was incredi- 
ble. I told him I could raise money 
for this. He didn't know Td never 
raised money for anything.” 

A Texas businessman vowed to 
help out. But then Bender had a 
stroke of luck: “My acting teacher, 
Lilly Parker, read the script and 


m the world, 0 ’ be recalled. “We stfdT 
John was the bottom bne. 
didn't understand why we d u 
want to use a superstar. ButJohn ’ 
the guy Quentin wanted.” •- 
Bolder has lived for several years * 
in an apartmeat in Hancock Park, a 
stolid Los Angeles community, with 
JoSQe Bentotila, a French water: He'-' 
said that he was still not sui&how lus . 
career would evolve, and remained 
uncertain whether he wouldpantitiria 
producer or try tojqtim.toactmg. OT 
even seek another fS -eer, 7 outside 
movies. But leaving^ thcT 
ness seems, at this point, im^o6«L^ ' ' 
“Many tunes people write scripts 
because they want to write a screen- 
play, not because there's anything 
they need to say," be said. “And I 
want to make movies with people 
who need to say something,, whether 
it’s a political statement or a pure 
cinematic statement. I want to make 
movies that come from some inner 
being. And those are hard , to find ” 


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27*0 

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Franttfu/l 

16/04 

9/48 


20*8 

9.48 pc 

Qpwva 

1654 

11,32 


2170 

13*5 DC 

HoKmia 

Il>52 

8.43 


1J/5J 

5*41 ah 

haamul 

2B/82 

19, E6 


28*2 

18*4 , 

Uis Palma; 

24/75 

1936 


24/75 

20/58 1 

Ust*/1 

1B.S6 

I7IC 

pc 23 .73 

16,61 pc 

Lcnarn 

1762 

12/53 


IB/66 

12,53 « 

UMnd 

1«<W 

13, ns 

»h 

24,75 

12*53 pc 

Ulan 

2271 

17-62 

I 

26.79 

17 52 pc 

Moscow 

18 W 

8/4E 


15/59 

6Mj c 

Murach 

1B.G4 

11.32 



11*52 pc 

MCO 

23/73 

18/64 


28,79 

18/04 Ml 

Olio 

1050 

SMI 


I2'63 

4/39 S6 

Palma 

22C1 

2170 

c 

25.77 

20.68 nil 

Pine 

19/66 

11/52 

pc 21/70 

13/55 • 

Pnjgus 

18*1 

10/50 


20*86 

11.-52 C 

Rvy»iaiak 

9.48 

2/35 

s 

0M> 

3/37 5ti 

Pc»n® 

26 79 

19-66 

an 

29*J 

18/104 pc 

SI. P*M-Mura 13.55 

4/ TO 

ah 

13/55 

2*36 Hi 

Slocuiotm 

1152 

b'43 

•h 

12*3 

6*43 sn 

ShaSourj 

18 Ad 

9M8 


19 « 

12-5J pc 

Tarann 

J1« 

7 '44 

1 

12*3 

8/43 m 

Vents 

25.77 

19«E6 

1 

27.* 

19 66 pc 

V*nna 

17 62 

U53 

so 

19.88 

12*63 pc 

iVa-ow 

16*64 

6.43 


1986 

0.46 Bi 


'956 

12/53 

an 22 71 

13*5 pc 

Oceania 

AucMand 

15-58 

8 46 

1 

14. -57 


S»Jno> 

16^1 

8.46 

»0 

17*2 

8/4i. pc 


Forecast for Thursday through Saturday, as provided by Accu-Weathar. 


Asia 



Tantav 



High 

Low 

W 

Mgh 

Low 

W 


OF 

OF 


at 

OF 


BonoUfc 

31/88 

24.75 

eh 

32*8 

24,76 

1 

Buonp 

22-71 

12*3 

DC 

30*8 

11/52 

PC 

Hong Kong 

29/84 

25-77 

«n 

28*4 

2677 

a 

Uanila 

31/88 

26-79 

1 

31 *8 

25/77 

« 

NowDeM 

35 /TO 

22,71 

1 

34*93 

24 75 

• 

Seoul 

26,79 

12*53 

s 

2475 

15*9 


Slaipn 

28.82 

19*6 

5 

27*80 

29*8 

a 

SnpofMV 

31*8 

25/77 

pc 31*08 

24 7S 

pc 

Tape. 

3 1 TO 

2170 

8 

31 *8 

23-73 

pe 

To*r> 

24.76 

19*66 

sn 

28-79 

»*8 



Jew [roam 

North America 

The Great Lakes through 
New England will have chlly 
weather Thursday into the 
weekend. A cooking rain wdl 
linger over the Canadian 
Maritime*, into Friday. Very 
warm weather will surge 
northward from Dallas 
through Denver late this 
week. 


Africa 


Europe 

Northern Scandinavia 
Bi rough northwestern Russia 
ml have damp, ctvtty weath- 
er late this week London 
through Pans win he sunny 
and milder Warm air will 
surge northward from Rome 
and Athens through Bulgar- 
ia A stow -moving storm wdl 
bring unusualy wet weather 
to southern Spain. 


Asia 

Nonhem China will have 
cool weather late this week, 
while Shanghai is dry and 
seasonable. Beijing and 
Seoul will have dry. cool 
weathei Thursday and Fri- 
day. Showers wd reach Bei- 
jing Saturday Typhoon 
Ochld will bring heavy rams 
and strong winds to south- 
ern Japan later this week. 


AWers 2S77 

CaeeTcwn is-» 
CwuMmw 10*66 
Kami* 10166 
U(jm 2**2 

Nun** 22,71 
Time 32*9 


33 m sh 2B *2 21170 1 
10150 pc 19*6 n -53 pc 
15/50 pc £271 IJ1S5 t 
pc 23171 10/50 5 
33/73 pc 29<*4 24»7& pc 
11/53 m 247 £ 12-53 4 
21170 pC 32*9 31.70 


North America 


Middle East 


Latin America 



Today 


Tmsorrow 

~ 







LOW 



Low 

W 


Wph 

Law 

m/ 

High 



OF 


OF 

OF 



OF 





27*0 

2271 

% 

29*4 

2373 


Buonas Aires 

2271 




Cairo 

27*0 

10*6 

s 

31*8 

18*6 


Caracas 

28*2 




Damaeaa 


13*5 


27*0 

15*59 


Lnu 





Jemawam 

2271 

16*1 

A 

25*77 

17rE2 


MooicoCay 


14/57 



Lijot 



pc 

37*98 

18*4 


R* JOJaneap 





RWdh 

38/100 24,75 

s 

39*1022*75 


Sarngp 

18*6 

8/46 

c 

18*4 


Low w 
OF 

9148 pc 


Ancnoroga 

Adana 

Bowon 

Chicago 

Demur 

Devon 

HonSkJU 

Houston 

Los Angeles 

Mam 

Mmeipofti 

MomraaJ 

Nassau 

New Yorfc 


Sen Fran. 


Legend: wunny. pc -parity doudy. c-ctoudy, sh-showara. r-thunderewtns, wain, sf-snow flurries, 
sn-enow, l-fcn. W-Weathor. Afl m«p», toratrearoaod data provklodby Accu-Woalhar, Inc.i1»«4 


Torortp 

Waanmgton 


11163 1.-34 

2H*2 16/81 
21170 13155 
10*4 8148 

29184 10150 
16.51 8 leg 

»/B6 35.77 
30/91 iB.-ea 
30*8 19-66 
32. TO 34775 
18*1 7/44 

17162 7(44 

31138 24175 
22/71 13/56 
4111 06 24175 
21/70 16*1 
23/73 12/53 
17182 8MG 
24/75 13155 


pc It 153 307 pc 

6 27*0 14157 •; 

C 16.84 10.50 «i 
01 21;70 tom pc 
a JO *6 3148 s 

an le.w a/46 pc 
PC 31188 24175 pc 
S 34193 21/70 t 
PC 2BIBZ 17*62 PC 
I 32/89 M/73 pc 
pc 20-68 8146 c 

sn 16*1 8/40 an 
I 32.88 24.75 pc 
PC 20158 12763 an 
a »n 02 2373 s 
PC 21/70 14/57 pc 
pc 19*6 12153 an 
an 16.81 9/40 in 
pe B27I 11.52 pc 


T HE University of South Carolina is 
getting a collection of F. Scott Fitzger- 
ald memorabilia that includes the galley 
proof of “The Great Gatsbv” and the writ- 
er’s whiskey flask — all for S800.000. The 
collection belonged to Matthew Bruccoti, 
an English professor. “I couldn't find a 
coffin with bookshelves," said Bruccoli of 
the sale. 

□ 

Confronted by members of the Grateful 
Dead who want portable toilets outside the 
Boston Garden when they perform there 
this week and an end to police harassment. 
Governor William Weld of Massachusetts, 
a self-described Deadhead, promised to do 
what be could. But the protest leader Dan 
Kontoff was wary: “Sometimes politicians 
will say one thing and do another." 

□ 

She may go down in history as the ulti- 
mate symbol of sexual freedom. But as she 
turns 60 on Wednesday, Brigitte Bardot 
couldn’t care less. She wants to be remem- 
bered as the “fairy godmother of animals.” 
Bardot, jthe star of “And God Created 
Woman” nearly 40 years ago, says she has 
been reborn. “The woman who made those 



AdcGae Bommart/ Rentas 


Brigitte Bardot will be 60 Wednesday. 

movies, that's not me. She's someone else," 
she told Jeffrey Robinson, author of “Bar- 
dot: Two Lives” that was published this 
week in Britain and France. The book will 
be published in the United Stales next 


spring by Donald Fine. Despite a deep- 
seeded mistrust of the press. Bardot agreed 
to cooperate with Robinson; 

■ D 

The Duchess of York has denied reports 
by her father, Major Ronald Ferguson, that 
she is on the verge of reconciliation with 
her husband. Prince Andrew,. The Sun re- 
ported Tuesday in London, quoting 
friends of the. duchess. “I and’Very disap- 
pointed in my father," it quoted her as 
saying. “I find the whole thim; absolutely 
staggering.” . . . Fears for princess Di- 
ana’s safety mounted after she was jostled 
by hundreds of fans as she tried to leave a 
London nursing college after abriv&e vis- 
it Politicians questioned . whether she 
should be allowed to insist on traveling 
without bodyguards.* “Good gritfi she is 
still wife of the hear to the throne," said 
Junes Cran, a Conservative member of 
Parliament. 

□ 

Victoria Sellers, 29, the daughter of the 
late actor Peter Sellers, is negotiating a 
plea agreement in Los Angeles under 
which she is expected to admit to a misde- 
meanor charge in connection. with a rob- 
bery spree and thus avoid jail. 


<! 








'«*°rof the wikis**; 


•t.ldOwiWf 


Your stomach s growling. 


Mother Nature's calling. 




• t S I V 


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*- *4*- 


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• ' 

. *■ 


<' J" * 

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With AT&T USADirect* and 
World Connect!* Service , you can make 
multiple calls without redialing 
your card or access number ; 

You ' re ^ a h urry- So we’ll be brief. AT&T USADirect and 

|L World Connect Service gets you fast, clear connections 

back to the United States or to any of over 100 other 


iRuii 


Your flight s boarding. 


Plenty of time to make, say,/’' 


■•Nr'fs 

. .v. , 

'• -0~. ’ 


ten calls 




8®V\ 


ASIA /PACIFIC 
AUSTRALIA 1800-UI-ini 


CHIKA, PRC*** 
HONG ROMS 
INDIA* 
INDONESIA* 
JAPAN-. 

KOREA 

SMWfl 

MALAYSIA- 


10811 
000-1111 
na-ii7 
001-881-10 
HI38-111 
009-11 
OEM-Ill 
. 000-0011 


NElYTEiiLAND 
PHILIPPINES' 
RUSSIA ' f (MOSCOW) 
3MPAJT 
SINGAPORE 
SRI WWW 
TAIWAN’ 

IHflD AND* 


ARMENIA’* 


. 000-9* I 
105-11 
155-5042 
233-2072 
030-0IIMU 
• 430-420 
DMO-1B2M-0 
0011-7)1.1111 
EUROPE 

8014111 


AUSTRIA"*** 

BELGIUM* 

BULGARIA. 

CROATIA** . 
CZECH REPUBLIC 
DENMARX- 
F1NLAND' 

FRANCE . 
GERMANY . . . 
GREECE' 


022-903-011 
0400-10040 
.. OO-T0&HE1D 
99-30-0011 
00-420.00101 
0091-0010 
9880-100-10 
190*0011 
0139-0010 
00-900-1311 


HUNGARY* 
ICELAND-. 
IRELAND . . 

HALY- . 
UECH1EHSTBN- 
LTTHUANIA* . . .. 

LUXEMBOURG 

MALTA 

MONACO'* 

NETHERLANDS'.. 


00J-80M1111 
.. .999-001 
1-900-550-000 
... .172-1011 
155-00-11 
BOISE 

... 0-800-0111 

0000-890-110 
1 00-0011 
. 06-022-9111 


countries. Also, an easier way to make multiple calls. 
Up to 10 in a raw. Just dial the AT&T Access Number 
l below for the country you're calling from. Your call 

t* 

fc. . _ ... 

t! 8° through in seconds. Then, instead of hanging 

up after each call, busy signal or unanswered call, 
simply press the #button. In short you'll spend less 
r time dialing. And more time talking, Wait. On second 
thought, Isn’t your flight about ready to take off? 


im 


i'i \ 

M.I-V- 

r- 

... 

■ 

t < ■ ;v ■ .. 

' 

?/■■ ■ 

n„ . ■ 



NORWAY . . 

POLAJiOtt.. 
PORTUGAL* 
ROMANIA. ... 
SLOVAK REP... 
SPAIN. .. 
SWEDEN- 
SWITZERLAND' 
UKRAINE*. . 
U.K. 


. . 900-190-11 
00010-400-0111 
. 05017-1-2B8 
01-000-4288 
. ..00-420-00101 
. B08- 99-00-11 
020-705-511 
155-00-11 
. . 80100-11 
0500-89-0011 


MIDDLE EAST 

BAHRAIN aOO-OOl 


CYPRUS' 

EBYPT” (CAIHO] J 

ISRAEL 

KUWAIT 


060-90010 

. . 510-0200 
-.177*100-2727 
. . 800-288 


LEBANON (BEIRUT? . .428-801 
SAUDI ARABIA. . . . 1-aOQ-TO 
TURKEY' .00-HW-12Z77 
U ARABBARATES' .800-121 


AMERICAS 

ARGENTINA* . 001.800-200-1111 
BOLIVIA', . 0-800-I1I2 

BRAZIL 000-8010 

CANADA 1-0OO-575-2Z22 

CHILE. 000-0312 

COLOMBIA 000-11-0010 

EL SALVADOR'.. 100 

HONDURAS*.. ... 123 

UEXIC0W 95-0OO-4E2-42AO 


PANAMA.. . . itIO 

PERU 1 . 191 

VENEZUELA'. 00-011-120 

AFRICA 

GABON- . 000-001 

GAMBIA- 00111 

IVORY COAST 00-11 Ml 
KENYA* 0800-10 

LIMRIA 797*797 

SOUTH AFRICA 0-000-99-0123 


TrutiXorld' 'Connections 



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