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PUBLISHED WITH THE NEW YORK TIMES AND 



WASHINGTON POST 


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Paris, Friday, September 30, 1994 


No. 34,707 










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Smog Over East Asia: | Ferry Probe Hunts Design Flaws 

An Ominous Symbol 
Of Rapid Development 


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By Michael Richardson 

A ni emotional Herald Tribune 

SINGAPORE — ■ Boom i imp £asi Asia 
has gotten a whiff of the future — and it 
is acrid and dark. 

A pall of smog has descended over 
Singapore and much of Malaysia in re- 
cent weeks. It is the latest sign of a 
spreading epidemic of pollution that is 
. eroding the quality of life in many parts 

’ First of two artic les 

of East Asia even faster than incomes 
and material living standards rise, scien- 
tists and researchers say. 

Indeed, even Singapore, which prides 
itself on having a clean and green envi- 
ronment, is becoming a victim of East 
Asia’s supercharged economic growth. 

The problem is likely to get worse 
unless countries take stronger steps to 
cut pollution and cooperate with their 
neighbors to protect the environment. 

The smog is a symptom of the growing 
environmental conflicts of interest 
among the countries of the region, as 
rapid economic expansion generates new 
tensions over access to dwindling natural 
resources. 

Pollution in Singapore and Malaysia 
from motor vehicles, industry and power 
stations normally disperses quickly. But 
in recent weeks it has been kept in place 
by layers of smoke from forest fires that 
started in August in neighboring Indone- 
sia. 

The fires are caused by excessive com- 
mercial logging, slash-and-bum agricul- 
ture by poor farmers, conflict pitting 
laborers and local land users against tim- 
ber and plantation companies, and tin- 
der-dry conditions. 

Until the smoke blanket recedes. Sin- 
gaporeans are having to adjust their life- 
styles. The government issues pollution 
updates three times a day. Hospitals and 
medical clinics have reported a rise in 
respiratory complaints and skin and eye 
irritation cases. 


When Zahara Yusoff, rice principal of 
the Opera Estate primary school in Sin- 
gapore, saw the gray haze in the school 
yard ihe other day, she took additional 
precautionary measures. 

“Since Monday, all our physical edu- 
cation lessons have been held indoors,” 
she said. 

The onset of the annual rainy season, 
which is due in October or November, 
will eventually douse the fires. But with- 
out better controls, they are likely to 
recur in the 1 995 dry season. 

Indonesia and Singapore agreed 
Thursday to coordinate action against 
future forest fires but said there was little 
they could do to combat the fire-induced 
haze currently plaguing both countries as 
well as Malaysia, Reuters reported from 

Jogj akar ta 

Goh Chok Tong, Singapore’s prime 
minister, said after signing two trade 
agreements in the Indonesian city that he 
had agreed in talks with President Su- 
harto that ministers from the two coun- 
tries should meet on the issue. 

Officials from Singapore and Malay- 
sia will meet next week to discuss the 
problem. 

The Singapore government has 
formed an inierministry task force to 
3 are measures to protect public 
if the smog gets worse. 

Law Hieng Ding, Malaysia’s environ- 
ment minister, said that his ministry 
would recommend that the government 
impose mandatory cuts on industrial fuel 
burning, reduce ihe number of vehicles 
on the road, close schools and declare 
public holidays if the pollution became 
more intense. 

He said Wednesday that Malaysia 
wanted Indonesia to be more forthcom- 
ing about its forest fires but had yet to 
receive any information from the Jakarta 
authorities. 

In an editorial, the newspaper The 

See POLLUTION, Page 7 


By Richard W. Stevenson 

* New York Times Service 
STOCKHOLM — A day after the ferry 
Estonia went down in a Baltic Sea storm, 
killing more than 800 people, the ship's 
owner said Thursday that it believed the 
sinking had resulted from water rushing 
into the hold, but was unsure where and 
how the breach had occurred. 

As Sweden, Estonia and Finland ab- 
sorbed the shock of Europe's worst mari- 
time disaster since World War II, the au- 
thorities gave up hope of finding anyone 
else alive in the frigid water where the 'ferry 
capsized and sank in only minutes early 
Wednesday. 


One Swedish town, Norrkoping, lost 56 
elderly residents who had seen the trip as a 
fun-filled cruise, and the Stockholm police 
force lost 60 civilian employees who had 
been attending a training session. 

As more survivors told of the doomed 
ship's last minutes, of stepping over wail- 
ing children in a scramble to get out, of 
failed and successful acts of heroism, gov- 
ernment officials and industry executives 
turned Thursday to what had gone wrong. 

Among the issues that officials said 
would be examined were the ferry's design, 
the Estonian crew's handlin g of the ship 
and the adequacy of safety inspections, 
particularly in Estonia, which has had to 


set up a maritime administration from 
scratch in (he last few years. 

Sien-Crister Forsberg, the technical di- 
rector for Nordstrom & Thulin, the Swed- 
ish partner in a joint venture with the 
Estonian state that operated the ferry, said 
all reports so far suggested that there had 
been large-scale flooding of the bold. 

Although he said there was not yet any 
specific evidence, Mr. Forsberg said there 
might have been a failure or design prob- 
lem in the bow doors, through which cars 
and trucks were loaded onto the ship. 
“That particular possibility will be very 
thoroughly examined.” he said. 

But he said he would rule out a failure of 


Late Compromise Expected 
In U.S.- Japan Trade Talks 


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By Steven Brull 

International Herald Tribune 

TOKYO — Japanese and U.S. negotia- 
tors appear likely to strike a last-minute 
compromise in tirade talks by the Friday 
deadline that would allow both nations to 
declare & partial victory, avoid the imposi- 
tion of serious sanctions against Japan, 
and i rwn tpfa stability in financial mar- 
kets. 

But such an agreement, typical of others 
reached; with Japan over decades, would 
more accurately represent a failure by 
Washington to obtain a results-Oriented 
agreement and a victory of sorts for Japan. 

It woyJd also work against the interests 
of free trade and deregulation in Japan, 
insofar as it endorsed a strengthened role 
for the Japanese government m determin- 
ing market outcomes. Asian and European 
nations would inevitably suffer discrimi- 
nation/: 

"An agreement based on fuzzy language 
woaki be a victory for Japan, and a defeat 
for the United States,” said Kazuo Ueda, a 
professor of economics at Tokyo Universi- 
ty- '. 

The outcome of the talks will not be 
known until midnight Friday, after which 
Washington has threatened to impose pu- 
nitive tariffs. Until then, both sides are 
playing tough. 

Mickey Kantor, the U.S. trade represea- 
Utive, said Wednesday that Washington 
’•-won’t accepi anything less” than “real, 
substantial, concrete, tangible agree- 
ments." . Foreign Minister Yohei Kona of 


Japan is firm that Tokyo will not commit 
to an increase in American imports. 

Despite the rhetoric, analysts say power- 
ful forces are pushing both nations to com- 
promise after 15 months of arduous nego- 
tiations. 

For one, leaders of both nations are 
anxious to avoid a repeat of last February’s 
rupture, when President Bill Clinton and 
Morihiro Hosokawa, then Japan's prime 
minister, failed to agree at their summit 
meeting in Washington. That helped send 
the yen soaring. Its almost 14 percent rise 
so far this year has delayed Japan's eco- 
nomic recovery and increased U.S. infla- 
tionary pressures. 

President Clinton also wants a victory 
before the midterm elections in November. 
He also needs to show his resolve on trade 
before Congress votes next week on legis- 
lation to apply the Uruguay Round of the 
General Agreement on Tariffs and Trade. 

For his part, Prime Minister Tomiichi 
Murayama, the Socialist leader of the un- 
wieldy coalition dominated by the Liberal 
Democrats, is keen to display finesse in 
negotiations that broke down under the 
stewardship of Mr. Hosokawa, now a 
member of the opposition. 

The risk remains large that neither the 
United States nor Japan will back off. If 
the two sides fail to reach agreement on 
government procurement, U.S. law re- 
quires Washington to respond with sanc- 
tions, although their imposition would be 
delayed by at least a month. In other 

See TRADE, Page 7 



Rnalerf 


Mats Finnanger landing in Oslo on Thursday after surviving the sinking. His father and a sister most likely died. 

NATO Backs Tougher Air Strikes on Serbs 


By Joseph Fitchett 

International Herald Tribune 

Seeking fresh diplomatic momentum af- 
ter a threat to lift the embargo on arms to 
the Bosnian Muslims was postponed, the 
Clinton administration persuaded NATO 
on Thursday to authorize tougher use of 
air power to punish Bosnian Serbian at- 
tacks on peacekeeping units. 

The alliance is now authorized to re- 
spond promptly and without warning to 
violations and provocations and to attack 
multiple targets. 

“we’re not launching all-out air war,” 


one senior Amen can official said. "But it’s 
going to be more than the current tit-for- 
tat retaliation.” 

The British defense secretary, Malcolm 
Rifkind, said there would “be no more 
pinpricks.” 

The North Atlantic Treaty Organiza- 
tion’s readiness for broader reprisal tactics 
will not automatically lead to tougher ac- 
tion, because allied warplanes need UN 
approval for any combat mission. 

“It's one thing for NATO to be ready 
and willing, but the reality is that UN 
commanders on the ground have not been 


enthusiastic about ordering up air strikes,” 
an American official said. 

But oiher officials said that every time 
NATO’s rhetoric had become more men- 
acing, the military pressure had increased 
on the the Bosnian Serbs, with localized 
success in most cases when Western mili- 
tary force has been applied. 

The U.S. defense secretary, William J. 
Perry, said earlier that "compelling force" 
should be applied to keep heavy weapons 
out of range of Sarajevo and other Bosnian 
cities, and he complained that United Na- 

See BOSNIA, Page 2 


the rubber seals surrounding the doors. 
Swedish inspectors noted wear and tear on 
the seals Tuesday before the ferry left the 
Estonian capital, Tallinn, for Stockholm. 

Mr. Forsberg said that the seals had 
been within safe limits and that the ferry 
had been in excellent condition overall. 

“The ship was very well-equipped, ful- 
filling all national and international rules 
with a very competent crew," he said. 

Officials said one of the vessel's two 
captains, Abvo Piht, an Estonian, was 
among the 140 confirmed survivors. They 
said that he was believed to be in a hospital 

See FERRY, Page 7 

Above Roar 
Of the Sea, 
The Screams 

Of the Dying 

By Erik Ipsen 

International Herald Tribune 

STOCKHOLM — Survivors of the 
doomed ferry Estonia told harrowing tales 
Thursday of sudden death, of friends and 
relatives snatched away by frigid Baltic 
waves, of screaming children clinging to 
the railings and, finally, of terrifying waits 
in the dead of night for rescue from the 
heaving seas. 

In Finland, Lars Lamke, a Swedish doc- 
tor. told of his desperate struggle to get out 
on deck as the Estonia began to heel over 
and of the awful fate he found there. 

“The heavy seas rushed over us." said 
Dr. Lamke, whose plummet into the 50- 
degree (10- centigrade) water stopped his 
watch at 13 minutes after midnight. “We 
watched the feny disappear from the sur- 
face of the sea. Suddenly all its lights went 
out, and all was black.” 

Others told of the piercing screams of 
survivors in the water that could be heard 
even above the roar of the sea. 

“I helped one man onto the raft." Ne- 
bojsa Grovic, a 35-year-old Stockholm so- 
cial worker, told reporters in Finland. “He 
just screamed hour after hour, kicking and 
waving his arms. He died on the raft.” 

In Stockholm, where two ferries carry- 
ing a total of 31 people who had been the 
Estonia arrived on Thursday, survivors 
were taken to Sodersjukhuset Hospital. 
Stefan T&rngren, the hospital's chief of 
surgery, reported that “medically they 
were not in such bad shape.” 

The worst of the physical injuries were a 
broken ankle and a broken shoulder. 

“The survivors here were young and in 
good condition,” Dr. Tbrngren said. “We 
have no children, and no old people ” 
Most — 23 of the 31 — were men. 

“It is a dreadful experience to receive 31 
passengers from a snip that carried more 
than 900 people," he said. 

In Finland, where most of the survivors 
were taken after the catastrophe Wednes- 
day, a doctor said it was a miracle that 
people could survive under such circum- 
stances. 

The youngest survivor in Turku Univer- 
sity Hospital was a 12-year-old Norwegian 
boy. The oldest was a 77-year-oJd Swede 
who was admitted suffering from severe 
hypothermia, his body temperature only 
78.8 degrees Fahrenheit (26 degrees centi- 
grade). 

On Thursday, Prime Minister Mart Laar 
of Estonia compared the sinking of the 
1 5 ,566- ton ferry to the Titanic disaster. 

Like the Titanic, he said, the Estonia 
was a vessel simply assumed to be "not 
possible to sink.” 

Among those reeling in shock from the 
disaster were officials of Estline, the ship's 
owners. At a news conference here Thurs- 
day evening, Estline’s traffic director, 
Carl-Gustaf Akerhielm, again revised up- 
ward his figures for the number of people 
on board the Estonia when the ship went 
down. There were 982 on board, he said, 
including a crew of 191. He blamed uncer- 
tainty over the figure on staff stress. 


Delhi Shuts Schools to Ward Off Plague 

" Compiled by Ow SuxffFrom Dapaeha of dead a t 300. Cases have been found anxiety that the plague outbreak has 

NEW DELHI — Authorities on Thurs- 
day ordered New Delhi's schools and mov- 
ie theaters to close to try to prevent the 
thread of plague, as cases continued to 

*-rease nationwide. 

puVe epidemic has already spread farther 
m 8|thc last major outbreak nearly three 
K Jes ago, but government urged dti- 
tha and foreign nations not to panic, 
fodig the outbreak was under control. 


aisny foreign governments have taken 
^jfeps to guard against the ackness — ad- 
vising against travel to India and screening 
or even barring travelers and cargo from 

India. (Page 6) , _ u 

The official death toll m Surat, where 
tiie outbreak began on Sept 20, has risen 
To 54. Unofficial estimates put the number 


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of dead at 300. Cases have been found 
hundreds of kilometers away, in Delhi, 
Calcutta and Bombay, 

The Delhi chief minister. Mad an Lai 
Khurana, ordered the city’s schools to be 
shut until Oct. IS. The closure came after 
IS of 47 suspected plague victims quaran- 
tined in the capital were confirmed to have 
the disease. 

Hie city’s movie theaters were ordered 
to close until further notice, a city official 
said. The closures were aimed at reducing 
public contact in the capital which has a 
population of 9 million people. Pneumonic 
plague is highly contagious and can spread 
between humans through coughing or spit- 
ting. It can be fatal if not treated promptly. 

An outbreak of the less-lethal bubonic 
plague east of Bombay last week, closely 
followed by the onset of pneumonic plague 
in Surat, has put nearly 1,500 people in 
isolation wards. 

Almost all of the sufferers were respond- 
ing favorably to treatment, health officials 
say. During the 1940s and early 1950s, 
plague Wiled thousands of Indians each 
rear. But by 1966, when the last death was 
recorded, Ute plague had virtually disap- 
peared until the Surat outbreak. 

The Indian government's decision to 
close schools and theaters underscored the 


stirred throughout India and abroad. 

The WoriclHealth Organization’s repre- 
sentative in India, Dr. N. K. Shah, was 
quoted by the Press Trust of India news 
agency as saying he expected the country 
to be free of the plague within three weeks, 
providod there were no other major out- 
breaks. 

The Indian Foreign Ministry, dearly ir- 
ritated by warnings and actions taken by 
some foreign governments, sent a state- 
ment to embassies saying, “The situation is 
well under control and there is absolutely 
no reason for panic." 

The statement said India had adequate 
supplies of medicine, and that both the 
bubonic and pneumonic outbreaks were 
under control. “Please impress upon your 
concerned authorities that every Indian 
traveler is not a plague carrier and, thus, 
rampant screening of Indians landing 
abroad should preferably be avoided." the 
statement said. 

The ministry said a decision by Gulf 
states to suspend flights to and from India 
was not warranted. “It does not seem that 
the countries concerned had had the bene- 
fit of prior consultations with the Indian 
Ministry of Health,” it said. “Suspension 
of flights would only spread false alarms.” 


Kiosk 


UN Votes to lift 
Haiti Sanctions 

UNITED NATIONS, New York 
(Reuters) — The Security Council on 
Thursday lifted fuel trade and aims 
sanctions against Haiti, beginning the 
morning after President Jean-Ber- 
trand Aristide returns from exile. 

In Port-au-Prince, meanwhile, at 
least five Haitians were killed and 
several dozen wounded after a gre- 
nade was thrown into a crowd protest- 
ing against the junta. (Page 3) 


Book Review 
Bridge 


Dow Jones 


Page 11. 
Page 11, 


Trib Index 


Down 

23.55 


J* 


3854.63 , 

The Dollar _ 

NtwYotV Uyt.cioie 


Down 

0 . 01 % 

115.39 


T/v 




previous dow 


DM 


1.5467 


1,5528 


Pound 


1.5782 


1.5746 


Yen 


98.60 


99.00 


FF 


5.2853 


5.2965 


Disney Packs Up Muskets 
At Civil War Battlefield 


By Michael D. Shear 
and Martha Hamilton 

Washington Post Service 

WASHINGTON — In a surprising 
retreat, the Walt Disney Co. has 
scratched a site near Civil War battle- 
fields in the Virginia countryside as the 
location for its third North American 
theme park, drawing praise from histori- 
ans and preservationists. 

But business and political leaders in 
the area worried that the park's loss 
would be a severe economic blow to the 
region, 

“I'm very happy. It's good news," said 
James McPherson, a Civil War specialist 



five miles (eight kilometers) from the 
Manassas battlefield. 

The Disney proposal proved contro- 
versial from the start, not only because 
local residents objected but also because 
historians argued that Disney would in- 
evitably trivialize the major themes in 


American history that its park was in- 
tended to portray. 

Local opponents declared that the 
400-acre (160-hectare) park and related 
hotels and golf course 35 miles southwest 
of Washington would cause air pollu- 
tion, traffic jams, urban sprawl ana seri- 
ous damage to unprotected Civil War 
battlefields. 

Those who backed Disney noted that 
the major battlefields at Manassas were 
already protected within a national park. 
The land Disney wanted to develop had 
been used' primarily as staging areas or 
transit points by Confederate and Union 
troops, and before them, Indians. 

The uproar over the proposed park 
was one of several issues that have shak- 
en Disney this year. The company’s Euro 
Disney theme park outside Paris has 
been unprofitable and recently had to 
cut operating costs sharply to compen- 
sate for decreased attendance. 

The public, and embarrassingly acri- 
monious, split between Disney's chair- 

See DISNEY, Page 7 




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IOTEKNATIONAL HERALD TRIBUNE, FRIDAY, SEPTEMBER 30, 1994 


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Good Intentions, 
Unresolved Issues 


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By Thomas W. Lippman 

Washington Post Service 

WASHINGTON — The se- 
curity agreements announced 
by Presidents Bill Clinton and 
Boris N. Yeltsin will accelerate 
the shrinkage of both nations’ 
nuclear arsenals and promise a 
Mo scow- Washington partner- 


NEWS ANALYSIS 


ship in coming arms negotia- 
tions, but they also leave diffi- 
cult issues unresolved. 


Russia and the United Slates 
are now in a position where 
they have agreed to reduce their 
arsenals further, have commit- 
ted themselves to share infor- 
mation that used to be among 
the world’s deepest secrets and 
have said they will work togeth- 
er to prevent nuclear freeboot- 
ing in the rest of the world. But 
they are still far from agreement 
on exactly how these goals will 
be reached, administration offi- 
cials and independent analysts 
said. 

For example, administration 
officials said nothing agreed to 
at the summit meeting would 
accelerate Russia's fulfillment 
of an earlier agreement to stop 
operating three nuclear reactors 
that stdl produce plutonium us- 
able in nuclear weapons. 

Nor did the two leaders make 
an effort to reach agreement on 
how to define a defense against 
short- and intermediate-range 
missiles that would comply with 
the 1972 Anti- Ballistic Missile 
Treaty. Mr. Clinton and Mr. 
Yeltsin settled for an agreement 
to instruct subordinates to re- 
solve this issue “in the shortest 
possible time.” 

In the biggest surprise of the 
summit meeting, the two presi- 
dents agreed that once the 
START- 1 arms-red notion trea- 
ty was in effect and the 
START-2 treaty ratified, they 
would remove enough nuclear 
missiles from active service to 
get down to the level specified 
in START-2 without waiting 
until 2003, as that treaty pro- 
vides. 

This would remove 5,600 
Russian warheads and about 
half that many U.S. warheads 
from active status years ahead 
of schedule, a senior Defense 
Department official said. 

There is a catch: Russian im- 



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m unique, tins initiative may 
succeed. “The presidents 
agreed,” it said, “that each side 
would independently consider 
further unilateral steps, as ap- 
propriate, with regard to their 
respective nuclear forces.” 

U.S. officials said this was an 
urgent matter because Russia's 
arsenal of tactical weapons was 
scattered at scores of military 
sites controlled by local com- 
manders rather than by Mos- 
cow, increasing the danger that 
weapons or nuclear materials 
could be stolen or sold 

This “loose nukes” threat is 
regarded by U.S. officials as a 
more serious threat to world 
peace and U.S. national securi- 
ty than the possibility of a nu- 
clear attack by Russian strate- 
gic missiles. 

Mr. Clinton also managed to 
clarify part of Mr. Yeltsin's 
speech, noting that the Russian 
announcement that no further 
contracts would be signed with 
Iran for the sale of arms was an 
agreement in concept only. A 
U.S. official said later that the 
United States was siill unclear 
on what Mr. Yeltsin meant in 
saying that Russia would “ser- 
vice” its current contracts. 

Russia sells Iran about S 1 bil- 
lion a year in arms, including 
submarines. The United Slates 
considers Iran a pariah nation 
because of its support for ter- 
rorism, and has sought to hall 
Russian arms sales to Tehran 
since the Bush administration. 


NATO Names Claes 
To Its Top Position 


Rouen 

NEW YORK — NATO 
foreign ministers on Thurs- 
day formally appointed 
Foreign Minister Willy 
Gaes of Belgium as secre- 
tary-general of the 16- na- 
tion Western alliance. 

Mr. Gaes, 55, succeeds 
Manfred W&rner, a Ger- 
man who died Aug. 13. 


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Summit Partners Make Clear 
Their Desire to Trim Arsenals 


piemen tation of START- 1 is to 
begin only when Ukraine, for- 
merly a part of the Soviet 
Union, accedes to the Nuclear 
Nonproliferation Treaty as a 
nonnuclear state. 

This is a step Ukraine has 
repeatedly pledged to take since 
gaining its independence from 
Moscow, but it has not hap- 
pened 

A Pentagon official said 
Wednesday that President Leo- 
nid Kuchma of Ukraine would 
be told in strong terms when he 
visits Washington in November 
that Ukraine’s place in the 
world community will be mea- 
sured by its performance on this 
issue. 

All previous anns-reduction 
agreements between Washing- 
ton and Moscow have focused 
on strategic, or long-range, 
weapons. The Clinton adminis- 
tration’s strategy going into this 
summit meeting, senior officials 
said, was to persuade Russia to 
begin reducing its tactical, or 
shorter-range, arsenal as well 


For Yeltsin, Dissension in the Ranks 


By Michael Specter 

New York Times Service 

MOSCOW — Suggesting that it will 
take more than democracy to chase in- 
trigue from the Kremlin, one of Presi- 
dent Boris N. Yeltsin's closest aides has 
acknowledged that an “unseen struggle” 
was under way among Mr. Yeltsin's ad- 
visers over his political future. 

“A stru g g le is going on for a democrat- 


ic president, practically speaking, for the 
next term of Russia's history," tb 


tory," the Rus- 
sian president's press secretary, Vyaches- 
lav Kostikov, told the Interfax News 
Agency. “All the rest are emotions and 
the dust of political sideshows.” 

The fight is apparently over whether 
Mr. Yeltsin should run again for presi- 
dent in 1996, whether he should put the 
elections off until economic reforms 
have more time to take hold, how he 
should conduct hims elf as president, and 
what, if anything, Mr. Y el is in should say 
about it all now. 


Mr. Kostikov, often more outspoken 
than his boss or most other advisers to 
Mr. Yeltsin, was unexpectedly struck 
from die list of officials who traveled to 
the United Nations and Washington this 
week with the Russian president So were 
several other close advisers to Mr. Yelt- 
sin, prompting the newspaper Izvestia to 
ease back into the Kremlinology of past 
eras and predict power struggles to 
come. 

It is not clear why Mr. Kostikov did 
not travel to the United States. But it is 
also not clear — despite what Izvestia 
suggested — that the Yeltsin administra- 
tion has been torn apart by a split be- 
tween democrats like Mr. Kostikov and 
more hard-line guardians of power like 
Victor Ilyushin, a former Communist 
Party official and long a close ally of Mr. 
Yeltsin. 

Mr. Yeltsin has jettisoned many dem- 
ocrats from his timer circle, and with 
opponents like Alexander V. Rutskoi 


and Gennadi Zyuganov, the Communist 
Party leader, already campaigning to- 
gether with strong appeals to Russian 
nationalism, it puts Mr. Yeltsin in a 
difficult position. 

“It is not surprising that the presi- 
dent’s name and position are giving rise 
to open and covert polemics," Mr. Kosti- 
kov told Interfax. “The stakes are too 
hig h. The president is about to take vital- 
ly important decisions on the date of the 
elections. He is to decide whether he will 
seek another term, as a number of lead- 
ers are proposing, or use his influence to 
put off elections.” 

Gearly. Mr. Yeltsin faces political 
problems. There are many indicators of 
severe economic problems — unproduc- 
tive factories, unrealistic budgets, and 
inflation that, though greatly reduced, is 
still too high. On the other hand, foreign 
capital is returning to the country and 
Mr. Yeltsin's political opponents look 
far weaker than they have in months. 


According to the joint com- 

this 



Solution in Bosnia? ‘Patience,’ Rose Says 


By Roger Cohen 

New York Tunes Service 


SARAJEVO, Bosnia-Herzegovina — 
The commander of United Nations troops 
in Bosnia says the increased use of force 
advocated by the United States will only 
lead the West toward war and a disaster 
like the one in Somalia. 


logistics, that is war, and I’m not going to 
fight a war in white-painted tanks.” 

The general was responding to thinly 
veiled criticism from President Bill Clin- 
ton, who called for a new toughness in 


saving Sarajevo from strangulation during 
a speech Me 


“Patience, persistence and pressure is 
how you conduct a peacekeeping mission," 
the commander. Lieutenant General Sir 
Michael Rose, said in an interview. 
“Bombing is a last resort because then you 
cross the Mogadishu line.” He was refer- 
ring to the Somali capital, where American 
peacekeeping troops became involved in a 
shooting war that led to their departure. 


The British general added: “If someone 
wants to fight a war here on moral or 
political grounds, fine, great, but count us 
out Hitting one tank is peacekeeping. Hit- 
ting infrastructure, command and control. 


londay at the United Nations. 
American officials have been quietly 
pointing the finger at General Rose, saying 
he has been loo timid in his response to the 
presence around Sarajevo of tanks and 
artillery of the Bosnian Serbs, as well as 
other Serbian pressure on the Bosnian cap- 
ital. 

Seen from Sarajevo, the U.S. approach 
to Bosnia lacks coherence because it in- 
volves calls for wider NATO air strikes 
without addressing what happens to the 
tens of thousands of British. French and 
other UN troops in the aftermath. 

“If the decision is to go up to another 
level of enforcement, then we would have 
to leave,” General Rose said. “NATO 
sometimes suggests a level of targeting or 


course, but not major rows. 

Asked about his nonconfroatational ap- 
proach to recent actions by the Bosnian 
Serbs against the citizens of Sarajevo. Gen- 
eral Rose said the only protection for his 
troops came from the consent of all war- 
ring parties to the UN mission here. 

Asked if he felt greater sympathy for the 
Serbs after eight months here — an allega- 
tion frequently made by Bosnian govern- 
ment officials — General Rose said he had 
tried to maintain strict neutrality. 

“I disconnect myself personally,” he 
said. “Of course I am not insensitive to the 
victimization of people or the dismember- 
ment of a country recognized by the Unit- 
ed Nations. But I must maintain dialogue 
with both sides because the alternative is a 
worse war. If we succeed, the world will be 
a safer place for decades. But if we fail, the 
consequences will be horrendous.” 


BOSNIA: U.S. Persuades NATO to Toughen Strikes After Serb Attacks 


Continued from Page 1 
tions officials were reluctant to 
let NATO do its job in Bosnia. 

Speaking to NATO defease 
ministers meeting in Seville, 
Spain, Mr. Perry showed the 
immediate thrust of U.S. policy 
on Bosnia after the Bosnian 
government formally asked the 
United Nations on Tuesday to 
leave its arms embargo in place 
for six more months. 

The U.S. initiative to find a 


way to equip the outgunned 
Muslims 


Bosnian Muslims with weapons 
to match their Serbian foes — 
which threatened to cause the 
worst rift yet in trans-Atlantic 
diplomacy concerning Bosnia 
— thus became “largely aca- 


demic,” in the words of Secre- 
tary of State Warren M. Chris- 
topher. 

Not only easing U.S. dealings 
with President Boris N. Yeltsin 
of Russia during the Washing- 
ton summit meeting, the initia- 
tive also lifted a cloud threaten- 
ing the two-day NATO meeting 
in Seville. 

As a sign of the important 
potential changes under way in 
NATO, France is attending the 
talks in Spain — the first time it 
has participated in top-level 
military consultations since de 
Gaulle distanced his country 
from the alliance in 1966. 

Explaining why France and 
other European allies objected 


to the Clinton administration's 
handling of embargo issue, a 
French official told a group of 
reporters last week that the pro- 
posed U.S. action could not im- 
prove the outcome in Bosnia. 

“Serbian forces won’t wait if 
they think their enemies are go- 


ing to gel equalizing weapons, 
strike first,’ 


jua 


ask ihe butter... 





W-G-A. P • O • R ■ E 


they will strike first,” the 
French official said. “Our mili- 
tary believes it would take 
months for the Bosnian govern- 
ment forces to tih the balance. 
Meanwhile, we would be throw- 
ing away what looks like a real 
opportunity to see Belgrade 
squeeze the Bosnian Serbs and 
make them accept a settle- 
ment” 

Although relieved, some Eu-’ 
ropean officials asserted this 
week that the diplomatic dilem- 
ma was largely of the Clinton 
administration’s own doing. 
Ccmgresspassed a bill instruct- 
ing Mr. Clinton to press the UN 
Security Council to lift the em- 
bargo unless the Bosnian Sobs 


agreed by Oct 15 to accept a 
peace plan brokered this sum- 
mer by the five-nation contact 
group of mediating powers. 

This U.S. deadline aroused 
particular antagonism in Brit- 
ain and France, which were 
ready to withdraw their peace- 
keeping forces in the event of an 
influx of weapons. 

Generally, the U.S. initiative 
— to let arms flood into a con- 
flict where Washington has de- 
cided not to commit American 
ground forces — was seen as a 
sign that NATO no longer guar- 
anteed trans- Atlantic consulta- 
tions before the United States 
took a unilateral initiative on 
European security. 


Fire Kills 9 in South Africa 

Reuters 

JOHANNESBURG — Nine 
lie burned to death and at 
;t 10 were injured in a forest 
fire near the eastern South Afri- 
can resort town of Hazyview. 


WORLD BRIEFS 



4 Slovaks Are Seized With Uraraju^ 

BRATISLAVA, Slovakia (Reuters) — Four Slovaks: hawSbeen 




caught trying to smuggle 750 grams of uxanhnh-235 a ertes the 
Slovak border with Hungary, the Interior Ministry said Thusday. 
The isotope can be used in malting nudear weapons. . ■«#■ : - 

The three men and one woman .were stopped in thetr- car 
Wednesday near the town of Slovenske Nove Mesto, on Slovakia’s 
southeast border with Hungary. The uranium was found hidden in 
a lead box, according to an investigator at the Slovak Interior 
Ministry. - v - 

Since May. the Ger man authorities have made five seizures of 
radioactive material, much of it believed to have originate^ m the 
former Soviet Union. - ’ • 








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i 




Rabin and Hussein Meet in Aqaba. 

JERUSALEM (AF) —Prime Minister .Yitzhak Rabin of Israel 
and King Hussein of Jordan held a surpn® 5 meeting in Jordan ;on 
Thursday to try to overcome differences on water rights and 
territory that are blocking a peace treaty. 

A spokesman for Mr. Rabin confirmed that the meeting was 
taking place at the monarch's palace in the resort of Aqaba. ‘A 
spokesman for the Royal Palace said King Hussein and Mr. Rahin 
were discussing ways to advance the negotiating process. 

“His Majesty and Mr. Rabin axe discussing ways to resolve the 
core issues of conflict, it w-Juding Jordan’s water and tenitotul 
rights,” the spokesman said. Israeli television repeated that thd 
meeting was at «y?nrJ inting a timetable for reachin g a peace 

treaty. 


;j- v 


A Survey Questions Kohl’s Chances ‘ ^ 

BONN (Reuters) — A Gennanjpofling institute indicated for 
the first urn*- on Thursday that Chancellor Helmut Kohl could* 
lose power in October’s general elections, touching Off a dispute as »'■■■ 
rival institutes the small-sample survey irresponsible. _ ' 

Die Woche, a weekly, published figures by the Forsa Institute ( 
that gave Mr. Kohl's coalition partner, the ailmg Free Democrats, " 
just 4 percent support — too little to win any seats in Parliament 
— and Mr. Kohl's Christian Democrats 42 percent 
Mr. Kohl needs the Free Democrats to return to Parliament if 
he is to have a real eharie#; of f orming a majority government, and 
a result like the one predicted by Forsa could end his rule. 



_v-— 




6 Killed as Trains Collide in Germany 


-u - 


BAD BRAMSTEDT, Germany — Six people wertlglwl and 
60 were hurt, 20 seriously, when two trains collided Thursday. 

afternoon in this northern German town, the police said. < 

A spokesman for the private Altona-Kaltenkirehen^Neoinuen- 
ster railroad said in Hamburg that human error appeared to have. 
faiitwt the crash, which happened on a single-track part of 010 
line. . ' 

Mare than 200 policemen and rescue service officials were at 
the seme, where some people were still stuck in the cars, the 
railroad spokesman said. > 




: i 




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Sau Kraft/Tfe Aiwiciand tan 

INFLATED CAMPAIGNING — A woman wanting by a balloon ad for the Christian Socialist Union in central 
Bratislava on Thursday. The party is one of many contesting Slovakia’s two-day general elections, which begin Friday. 


use of air power that cannot be squared 
with my position. We have debates, of 


Fbgging Victim Is in Drug Clmw 


The Associated Press 

KETTERING. Ohio — Michael Fay has entered drug 
rehabilitation for a butane-sniffing habit that he idled on to 
forget about his flogging in Singapore, his stepmother said. 

Jan Fay said her stepson was admitted to a clinic in 
Minnesota several weeks ago after rite and his father learned 
that be had been inhaling the gas from pressurized cans to get 
high. Butane is also used in cigarette lighters. 


Mr. Fay, 19, told her that sniffing butane helped him forget 
four lashes to the buttocks with a rattan cane he 


about the four 

received in Singapore after being convicted of vandalizing 
earn, she said. 

“But you can’t blame Singapore for everything,” Mrs. Fay 
said Wednesday. “Michael knows that now. He knows that he 
has to take responsibility For his actions.” 


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3&aC - ,, '£ 




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2d French Aide Named in Blood Case 


Men Turns to Alla 


jS t\. ■ 


PARIS (Reuters) — A former Socialist health minister, Ed- 1 \ 

mond Hervfe, was placed under investigation on Thursday for ■ • 
being an accomplice to poisoning in a test of whether, the govern- 
meat can be blamed for AIDS-tainted blood transfusions that 
infected more than half of France's hemophiliacs. • • 

A simil ar investigation was opened into a former social affairs 
minister, Georgina Dnfoix, this week. A former prime minister.' . 
Laurent Fabius, will face the judges Friday. & ■’ •a . 

The three face possible charges carrying a maximum penalty of ' -s- . • 

30 years in prison for their role in the emotionally charged if”- 
scandal, which has infuriated many in France. But the investiga-- .. . . . 
tion does not automatically lead to prosecution. More than 400 ; '-iJ 
hemophiliacs have died from the tainted transfusions. 'c.-: ■ 


TRAVEL UPDATE 


British Stores Lore French Shoppers 




>uch major retail chains as Boots, Mothereare, Tesco and” ? 1 *" v~:.v 
Texas, as well as the ferry company Sealink France, are backing "**’ i - ir : , . 
the effort to lure French shoppers with a three-week television ;' 5 ^ -Mr . li; 
advertising campaign in northern France starting Thursday. 



8® « 

v ji tonamcnm- ■ 

ing stores in Canterbury and Whitfield and bade. 

Fonteeu people have died of cholera in Ukraine and 568 are' 
infected with the disease, Ukrainian radio reported. (AFP) 

France’s new safety belt requirement and tighter limits offi 
drunken driving helped lower the automobile dcamtoll Birina the l 
summer months, the Transport Ministry said. During August, * 4 1 

there were 764 deaths, 117 fewer than a year earlier. (Reuters) . t **'*U|| .'VCl 


SAS said it would resume ffigfats from Copenhagen to Chicago; lO* 
starting in March. The route was dosed in 1992 in an accwd wxtif |\i 

Austrian A m ines, which flies Vienna-Cop en hag en-Chi CMO Aus- ill | * 

trian intends to dose the route next summer, §AS said. (AF) * *■ *• - ‘ 


„ (AF) t *■ 

Concerned about too many tourists on Galapagos Islands and >. ji..., 

overfishing there, Ecuador has stopped issuing new licenses for . . ‘ 

tourist operations and faciliti e s. The islands are home to raro' ^i.S'QT 
tortoises and many other endangered flora and fauna. (AP^.% ^ ^ ~ 

Southwest Airlines is offering a 50 percent discount for tbenext^i j 





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EVTERJSATIQNAL HERALD TRIBUNE, FRIDAY, SEPTEMBER 30, 1994 


THE AMERICAS/ 




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U.S. Forces in Haiti: 
Clinton Stands Back 

After Constraints of Somalia , 


Vl 


By Mark Fincman 

J** 

- r • _ " y 

, and Art Pine 

W 1UK- 


Lea Angela Tima Service 



< PORT-AU-PRINCE. Haiti 

iv*.. 1 . 


— President Bill Clinton is do- 



fog something in Haiti that he 

st* lUfc. . , . 


did not do in the United States 


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operation in Somalia: 
[e is letting the military be the 
militar y. 

' American officials say that, 
in contrast to the Somalia ven- 
ture, Washington is stepping 

NEWS ANALYSE 


lit 




back and leaving the military 
operation on the ground to its 
generals and admirals. 

* “The White House has kept 
hands-off;" a senior military of- 
ficer said. 

. Although that may have 
made for some occasional ner- 
vous moments for administra- 
tion officials, it has also given 
(he military far more latitude 
than it has had in previous op- 
erations — both at the top lev- 
els of command and among 
squad leaders and sergeants. 

That, in turn, has meant far 
more on-the-spot improvising, 
both by senior commanders 
and by soldiers and Marines in 
the Geld, officials familiar with 
the U.S. operation in Haiti say. 

Last we^, for example, after 
Haitian policemen beat a civil- 
ian to death in Port-au-Prince, 
it was General Hugh Shelton, 
the U.S. commander in Haiti — 
and not administration officials 
*- who decided to assign U.S. 
foilitary policemen to oversee 
the Haitian forces. 

* The White House and the 
Pentagon’s civilian leadership 
essentially went along 

* And this week, the miliiaiy 
delayed the departure of a con- 
tingent of Maxines until early 

. October, to avoid giving the ap- 

*i m nr r. • ■ • - ^ prance that Washington was 

: : - re. v:” pending to Lieutenant General 


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Raoul C6dras, the Haitian junta 
leader, who had accused the 
American troops of committing 
“atrocities.” 

Military officials say the 
broad latitude for the generals 
stemmed from several rectors; 

• Unlike the U.S. venture in 
Somalia, the Haiti operation is 
entirely American-run. so U.S. 
commanders have not had to 
tailor their actions to fit in with 
the demands of UN officials, a 
major constraint in Mogadishu. 

• Planning for the Haiti ven- 
ture was meticulous, with major 
units and their weapons pack- 
aged as separate components 
that could be interchanged and 
shifted around as the situation 
on the ground required, giving 
Geld commanders added, flexi- 
bility. 

• Many of the U.S. troops 
now in Haiti, particularly the 
army’s 10th Mountain Divi- 
sion, served in Somalia and 
have experience with such 
peacekeeping operations. One 
lesson that the army learned: 
Keep ordinary combat troops 
away from day-to-day policing 
duties. 

To be sure, the wider discre- 
tion now being afforded mili- 
tary commanders — combined 
with the rapidly changing situa- 
tion in Haiti — has led to occa- 
sional confusion, and a few in- 
consistencies. 

During the beating incident 
last week, for example, while 
U.S. troops in that pan of Haiti 
were forced to do nothing more 
than watch, American soldiers 
in another part of the island, 
using the same rules of engage- 
ment, were permitted to step in 
and halt similar behavior. 

But the U.S. military police, 
who are assigned to serve only 
as a buffer between the Haitian 
forces and the people until a 
UiS.-led UN multinational po- 
lice force forms, do, of course, 
have their Affiliations. 



Bows/ Room 

U.S. Marines guarding the arrival of Haitian lawmakers for the opening of Partiament 

Grenade Thrown at Protesters 
Kills at Least 5 in Haiti Capital 


Compiled by Our Staff From Dispatches 

PORT-AU-PRINCE Haiti 
— A grenade exploded near a 
crowd of anti-junta protesters 
Thursday, killing at least five 
Haitians and wounding several 
dozen others, the Red Cross 
said. 

Haitians on the scene said a 
grenade was tossed into the 
crowd as hundreds of people 
marched past the Port-au- 


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POLITICAL NOTES 




Felngtein Tims to Attack Mode 

" LOS ANGELES — After months of bat- 

■ •tering in one of the longest and most expen- 
*sive television attack campaigns in congrcs- 

• sional election history. Senator Dianne 
? Frinstein has seen her wide lead in pre-elec- 
tion polls in California evaporate and is now' 

>■ going on the offense herself in an effort to 
, salvage her campaign for re-election. 

Polls show that Ms. Feinstein's wealthy 

* Republican opponent. Representative Mike 
L Huffington of Santa Barbara, has pulled eyen 
- in lbejuce. which will decide Ms. Feinstein's 
f political future and will help determine 

whether her party retains control of the Sen- 
ate and whether President Bill Clinton can 
„ .hold,tbis crucial state in 1996. 

Knocked off balance by the Huffington 
assault, she is struggling to take the fight to 
. her opponent but much of . the time she finds 
herself concentrating more on defense than 
Offense. , ... 

As. she begins to strike back, her television 
J advertisements bear a strikingly resemblance 

■ to his as she uses sharply worded assaults to 
question his ideology and his legislative a bili- 

, iv. In fact, some of her attacks are even more 
acertHc than his because they go on to ques- 
; tiotrhis character. (NYT) 

. W* Ho Time to Be a Democrat 

‘ DENVER — Governor Roy Romer suc- 
cinctly slates the source of his problem as 
voters consider whether to grant him a third 


term: "Tm an incumbent, and I'm a Demo- 
crat.” • 

By the common yardsticks of politics, Mr. 
Romer's rc-clcction bid should be a cakewalk 
and, under the ordinary standards of elective 
competition. Governor Bruce King of New 
Mexico, also a Democrat, should be favored 
for rc-clcction. And Michael J. Sullivan, the 
popular Democratic governor of Wyoming, 
would be expected to have the edge in his bid 
for a Senate seat. 

But these are not ordinary times. The li- 
abilities of Washington and the unpopularity 
of President Clinton have damaged the cam- 
paigns of Democratic House and Senate can- 
didates and are also hurting Democratic gu- 
bernatorial incumbents. 

‘‘People are not feeling much better about 
Republicans, but generally people are feeling 
less good about Democrats,” said Geoffrey 
Garin, a poll-taker. "The fact of the matter is 
that some of the old familiar stereotypes 
about Democrats are back in play this cycle, 
more in terms of tax-and-spend type issues 
than anything else.” ( WP) 


Quote/ll luiuote 


Neel Lattimore. Hillary Rodham Clinton’s 
spokesman, denying a tabloid report that the 
first lady was pregnant: “This is the same 
publication that said she adopted a space 
alien babv. If they already have a space alien 
babv, l don’t know if they need another one/’ 

(tfyrj 


Prince docks. Bleeding victims 
staggered through the streets, 
pleading for help. 

The explosion sent hundreds 
of people running from a 
stretch of the seaport area, 
which is guarded by some of the 
nearly 20,000 American troops 
in Haiti. Red Qoss and U.S. 
military vehicles carried 
wounded from the scene. 

American soldiers stormed 
the building from which the ex- 
plosive was believed to have 
been thrown, using M-60 ma- 
chine guns to blow off the door 
and arresting a man inside. 

The greaade was set off 
about a mile from city hall, 
where the mayor of Portrau-. 


Prince, Evans PauL was being. , agreement. 


months to consider an amnesty 
for Haiti's military leaders. The 
lawmakers planned to work in 
committees Thursday and said 
the next session would be next 
week. 

The leader of the military 
junta, Lieutenant General 
Raoul Cedras, has demanded 
an amnesty as the price of a 
Sept. 18 agreement to give up 
power. Some expressed deep 
reservations about absolving 
the soldiers who overthrew Fa- 
ther Aristide and are blamed 
for thousands of deaths since 
then. At least six amnesty pro- 
posals have been prepared. 
There was no indication when 
the lawmakers would reach 


restored to power under U.S. 
protection. 

Mr. Paul, who has been un- 
able to fulfill his duties because 
of death threats since the 1991 
military coup that toppled Pres- 
ident Jean-Bertrand Aristide, 
was escorted into the building 
under heavy guard. 


At the United Nations on 
Thursday, Secretary of Slate 
Warren M. Christopher intro- 
duced a resolution in the Secu- 
rity Council to lift all sanctions 
agamst Haiti when Father Aris- 
tide returns home. 

“The time has come to pre- 


Mr. Paul, whose popularity - pare for the resumption of nor- 
mav one day lead Him to the mal economic acuvtuesm Hai- 
’ - - u, Mr. Christopher sard. 

Sanctions were 


presidency, tried to return to 
office last year, but was pre- 
vented by armed paramilitary 
gunmen who shot and killed 
five of his supporters outride 
the building. 

Haitians five deep crowded 
against coils of barbed wire 
thrown up around the white 
stone building before bis arriv- 
al. 

On Wednesday, lawmakers 
met for the first time in nine 


last 

year when General CMras re- 
neged on an agreement to step 
down. Tougher, comprehensive 
measures were enacted in May, 
causing havoc to Haiti’s impov- 
erished economy. 

The ^capital was braced for 
protests to mark the third anni- 
versary of the coup that over- 
threw Father Aristide. 

(Reu- ters f AP) 


4 ilft-Aria ‘ ; - 




n't 1 "-* 1 * 


A! 


M 


■-r : 


. . rn* 


TV Station Admits Error 
InSimpson DNA Report 






IJV* 1 




By Howard Kurtz 

f Hfrtongton Port Service 

■ WASHINGTON — KNBC- 
TV of Los Angeles, wb«e re- 
art about a DNA test m the 
(J- Simpson trial prompted an 
— denunciation from the 

has acknowledged that 

'ry incor- 


‘the accuracy 
sources tell us." 
“We acted 


of what our 


its story was “fi 
rccL" 


,f3u 


responsibly as 
journalists,” Ms. Black said in 
an interview. “We went through 
multiple, very highly reliable 
sources that we’ve used many 
times in the past, and they had 
knowledge of the investigation. 
When questions came up in 
court about our story, we went 
back to aH these sources, who 




t 


■? >’ 


fi ' The NBC affiliate said that dbck io w ^ 
rton^nwTsources forth e<fi* all reconfirmed the story 
puiSrcpOTt were now “chang- But on Tuesday, Ms. Black 
inc Domons of their stones.” said: u We learned from a key 
vTrL. source that something was fac- 

KNBC reported last week incorrect. The individual 

that blood on a pair of socks lua “A .. - ■- 

m Ur fJiniTKnn’s hOIOC 


iwr 


lUMiJ 

would not tdl us in what way it 
was incorrect” 

Sanford J. Ungar, dean of 
American University’s School 
of Communication, criticized 
KNBCs behavior. 


uiiu uiwy v- — £ ~ 

„• found in Mr. Simpson s home 

. had been linked to that of his 
c slain former wife, Nicole Brown 

Simpson. 

judge Lance A. I to said the 

report was false and that he was - Evcry something like 

j**"— 

stood by its story, Judge lto 
said hfi was considering ban- 
: ning tdevirion cameras from 
tile trial. 




the mainstream 
in etna uikc one step closer to 
the tabloid press, and the public 
has another reason to be cynical 
about what it reads and sees," 
iliw uiw* he said. “The threshold on this 

A KNBC reporter, Trarie story is pretty low for going on 
Savaae. did not retract the re- the air.” 
irt until the 11 PM. newscast k 


port until the 1 1 PM. newscast 
Tuesday, ax days after it aired. 

The station’s president, Car- 
ole Black, told Judge Itom a 
letter that “h was not KNBCs 

y intent to provoke Your Honor, 

hni that journalists relied upon 


CNN, which said it had con- 
finned the stray, announced 
Wednesday that one of its 
sources "now tells us that infor- 
mation given to him was incor- 
rect and that no UNA tests 

iunn* Hone on the SOCkS- 


Convict, Cleared 
By DNA, Is Freed 
After 10 Years 

Los Angeles Times Service 

SAN DIEGO — A 36-year- 
old barber who had been in a 
California prison for 10 years 
for rape and kidnapping has 
been freed after DNA tests 
proved his innocence. 

Frederick R. Daye, convicted 
in 1984 in San Diegp Superior 
Court after being identified by 
the rape victim and a witness, 
was released from the Vacaville 
state prison. 

Mr. Daye said he planned to 
sue his prosecutors. He won his 
freedom thanks to the determi- 
nation of an attorney, Cannela 
Simon cini, and a television re- 
porter, Mark Matthews. 

After Ms. Simoncini filed nu- 
merous motions on behalf of 
Mr. Daye, prosecutors finally 
agreed to do a type of DNA 
blood testing that was not avail- 
able in 1984. In 1990, Mr. 
Daye’s co-defendant, who like 
him was serving a life sentence 
in prison, signed an affidavit 
' ig Mir. Daye was not in- 
in the crime. The same 

test that cleared Mr. 

Daye also confirmed the guilt 
of the co-defendant, David 
Pringle, 

The DNA lest results were 
made public on Monday, and 
Deputy District Attorney 
James E Atkins of San Diego 
immediately asked a judge to 
order Mr. Daye freed. 


Away From Politics 


• American Tobacco Co., winch makes Caitron cigarettes, has 
agreed to stop advertising that 10 packs of iiS brand have less 
tar than one pack of others brands, the Federal Trade Com- 
mission said. 

• A teenager who was originally sentenced to three years in 
prison for breaking into a school in Tbomascon, Georgia, and 
stealing ice cream escaped a retrial by pleading guilty to 
reduced charges. He received a year's probation and a $600 
fme. 

• Michael Sooner, a murderer who begged jurors to “put me 
out of my misery," was sentenced in Lovelock, Nevada, to die 
for gunnin g down a slate trooper. 

• An 82 -year-old man carrying groceries was struck and killed 
by a Metrolink commuter tram, becoming the fourth fatality 
oil Metrolink tracks in less than a week. Two of the four 
victims committed suicide. Metrolink provides rail service 
from downtown Los Angeles to five surrounding counties. 

AP 


vo; 
DNA 


International 

Classified 

Marketplace 

I Monday 

International Conferences and Seminars 
I Tuesday 
Education Directory 
I Wednesday 
Business Message Center 
I Thursday 

international Recruitment 
I Friday 

Real Estate Marketplace, Holidays and Travel 
I Saturday 
Arts and Antiques 

Plus over 300 headings in International Classified 
Monday through Saturday 

For further information, contact Philip Oma in Paris; 
Tel; (33- 1) 46 37 94 74 - Fax: (33- 1)463752 12 

LYTKRMTfilMl. 


HlUUDp Wltl! TWI stu mat nut* fin flMWlirw WI 


Page 3 


Tweaking Castro: U.S. Hopes 
Cubans Rush to Entry Lottery 


By Steven Greenhouse 

Hew York Tunes Service 

WASHINGTON - Having 
promised President Fidel Cas- 
tro that it would grant entry 
rights to at least 20,000 Cubans 
a year, the Clinton administra- 
tion has decided to select about 
one-quaner of that total by a 
lottery of Cuban applicants.' 

Administration officials who 
are putting the finishing touch- 
es on the immi gration plan said 
the lottery is intended to create 
opportunities for Cubans who 
have no hope of being admitted 
under U.S. immigration law be- 
cause they neither have close 
relatives m the United States 
nor qualify for refugee status. 

The other 15,000 would be 
accepted largely by broadening 
the definition of refugees and 
close relatives. 

One official said that so 
many Cubans — perhaps more 
than 100,000 — might apply for 
entry through the lottery that it 
could embarrass Mr. Castro 
and increase pressures on him 
to liberalize his economy. 

“One advantage of die lot- 


tery over accepting people on a 
first-come, first-served basis is 
you won’t have people standing 
in long lines outside the Ameri- 
can Interest Section in Ha- 
vana,” an administration offi- 
cial said. 

Another advantage, officials 
said, is that it might encourage 
some of the 30,000 Cuban refu- 
gees being held at Guantdnamo 
Bay Naval Station to repatriate 
voluntarily to try their luck in 
the lottery. If Cubans were 
granted entry on a first-come, 
first-saved oasis, the Guanta- 
namo refugees would have little 
chance to qualify and thus little 
incentive to go back home. 

State Department officials 
repealed this week that the refu- 
gees at Guantanamo have no 
chance of going directly to the 
United States. But they noted 
that Venezuela, Mexico and 
other Latin American countries 
have agreed to resettle several 
hundred of the Cubans. 

The administration agreed 
on Sept. 9 to admit more than 
2), 000 Cubans a year as pan of 


a deal in which Mr. Castro 
promised to stop the exodus. 

Last week, Ricardo Alarcdn. 
Cuba’s chief negotiator in the 
talks with Washington, com- 
plained that the administration 
was dragging; its feet in saying 
exactly how it would grant en- 
try to’ the 20,000 Cubans. At a 
Sept. 9 news conference. Attor- 
ney General Janet Reno indi- 
cated that the details would be 
released the following week. 

In explaining the delay, one 
Justice Department official 
said, “It’s more important to do 
it right than to do it fast." 

State Department officials 
said they were pleased by two 
steps the Castro government 
took this month: U met in Ma- 
drid with three prominent ex- 
iled dissidents, and it permitted 
farmers to sell some of their 
produce in the open market. 

But administration officials 
said the steps did not go far 
enough to warrant the “careful- 
ly calibrated" response Wash- 
ington promised if Havana took 
major steps toward democracy. 



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** 



Algerian Entertainer 
Is Slain, and Berbers 
Vow a ‘Total War’ 


By Youssef M. Ibrahim 

New York Times Service 

TUNIS --The Algerian civil 
turmoil pitting secularists 
against Muslim fundamental- 
ists entered a new phase of eth- 
nic conflict with the murder 
Thursday of a well-known Ber- 
ber entertainer and the earlier 
kidnapping of another popular 
Berber singer. 

The attacks are pushing Al- 
ina’s considerable ethnic Ber- 
er population, estimated at S 
million among Algeria’s popu- 
lation of 28 million, to arm it- 
self. Some of its leaders are 
threatening “total war” to de- 
fend their Berber heritage and 
the relative independence of 
their people in the mountainous 
Kablyia region of northern Al- 
geria. 

Suspected Muslim funda- 
mentalist militants in Oran shot 
to death Ctaeb Hasni. one of 
Algeria’s most popular singers. 
The killing followed the kid- 
napping Sunday of a 38-year- 
old Berber singer and political 
activist, Matoub Lounes, from 
a sidewalk caf& about eight kilo- 
meters (five miles) east of Tizi- 
Ouzo, the cultural and spiritual 
capital of the Berber Kabylia 
region of Algeria. 

The acts' dramatically in- 
creased tension among Berbers 
who have staged massive strikes 
in the last three weeks to de- 
mand the revival of their ethnic 
Tamazight language. Many of 
the Berber villages have been 
forming self-defense commit- 
tees. 

Senior political Berber fig- 
ures, including Hocein Ait Ah- 
med, head of the second largest 


political party in Algeria after 
the Islamic movement and Said 
Saadi, another Berber leader 
who heads the vehemently anti- 
fundamentalist Assembly of 
Culture and Democracy, 
warned in separate statements 
that targeting Berber figures 
could tip the country toward a 
full-fledged civil war. 

Mr. Saadis movement had 
threatened to take up arms if 
Mr. Lounes was not returned 
immediately. That threat was 
made even before Thursday’s 
killing of Mr. Hasni, 26. Both 
men were strong anti-funda- 
mentalist figures. 

Mr. Lounes had repeatedly 
asserted he was “neither Arab 
nor Muslim.” Mr. Hasni was a 
star performer of Rai music, a 
blend of Algerian melodies with 
Western themes that appeals to 
a wide segment of North Afri- 
can youths but is viewed as 
“vulgar and seditious” Western 
music by fundamentalists. 

The Berber Cultural Move- 
ment, an association that has 
evolved in the past few years as 
the political wing for commit- 
ted ethnic Berbers in Algeria, 
has called for a massive Berber 
demonstration on Oct. 2 after 
successfully organizing the 
strikes to demand the rednstitu- 
lion of Tamazight, banned for 
32 years by successive Algerian 
governments. 

The strikes and protests were 
only the most obvious aspect of 
a much deeper malaise among 
the ethnic Berbers, which has 
grown in the past two years as 
the tide of Islamic fundamen- 
talism has steadily mounted in 
Algeria. 


Carlsson of Sweden 
Names 6 to Cabinet 


Reuters 

STOCKHOLM — Sweden’s 
prime minister-designate, Ing- 
var Carlsson, named key minis- 
ters in his new Social Demo- 
cratic cabinet on Thursday. 

The minority government, 
which will take over next week 
from the coalition led by the 
conservative prime minister, 
Carl Bildt, faces the tough task 
of cutting a huge state budget 
deficit and securing a “yes” 
vote in a referendum in Novem- 
ber on whether Sweden should 
join the European Union. 

Mr. Carlsson, who toppled 
Mr. Bildt in a general election 
this month, gave the post of 
finance minister to Gofan Pers- 

500 . 

Mr. Persson. 45, a Former 
schools and adult education 


minister with a blunt approach 
and no high-level economic 
training, will be plunged into 
the spotlight as international fi- 
nancial markets focus on Swe- 
den’s mountain of debt. 

Mr. Carlsson named six min- 
isterial appointments, three of 
them women, in his minority 
government, 

A foreign-aid expert, Lena 
Hjelm-WaUen. a member of the 
Social Democrats’ inner circle, 
was appointed to be foreign 
minister. 

Mrs. Hjelra-Wallen, who will 
play a key role as the govern- 
ment aims to take Sweden into 
the Union on Jan. 1, has been 
education minister and foreign 
aid minister. 

The party secretary, Mona 
Sahlin, was named deputy 
prime minister. 


EUROPEAN 

TOPICS 


ISackto the Horse’ 

In German Logging 

For more than 600 years, 
workhorses have helped 
German loggers drag felled 
trees from the forests. The 
sharp, clear sound of axes 
against tree minks and the 
gentle jangling of tow chains 
were as much a pan of forest 
life as was the smell of pine. 

As elsewhere, mechaniza- 
tion changed that The new 
sound in the forests became 
that of chain saws and trac- 
tors; the new smell was of 
diesel fuel. 

In the 1980s, the weekly 
magazine Der Spiegel re- 
ports, horses made a come- 
back. Alarmed by reports of 
dying forests, environmen- 
talists agitated for a return 
to old-fashioned ways. Me- 
chanical forestry, they not- 
ed, tends to cause wastage of 
up to 10 times that wrought 
by men with horses — not to 
mention damage to soil and 
undergrowth. 

In the Saarland in 1987, 
Wilhelm Bode, then in 
charge of state forest man- 
agement and now an active 
environmentalist, banned 
clear-cutting, had fences 
built around forest stands 
and put more than 50 horses 
back in service. But these 
changes were rolled back by 
economy-minded officials. 

Now German nature 
groups have joined forces 
with the workhorse lobby to 
mount a “Back to the 
Horse" campaign. Knowing 
that their environmental ar- 
guments alone are unlikely 
to cany the day, they offer 
figures showing that the 
more careful forestry of men 
and animals, because it does 
less damage to trees, is more 
cost-effective than modem 
means of .tree harvesting. 

Around Europe 
Overall crime in England 
and Wales dropped by S3 
percent last year, the steep- 
est decline in 40 years, the 


government announced. But 
violent crime rose by 5 per- 
cent On Wednesday, Interi- 
or Minister Michael Howard 
called on Britons to set up 
voluntary citizens’ patrols to 
help fight crime by reporting 
suspicious activities to the 
police. The plan was criti- 
cized by Alan Beith, speak- 
ing for the centrist Liberal 
Democratic Party, who said 
it ’’could easily turn into 
pushing innocent people 
around in a threatening 
way." 

Sophie Peltier, 32, holds 
four advanced degrees, in 
subjects including the histo- 
ry of Christianity and Afri- 
can ethnology. She is a vora- 
cious reader and a former 
professor. Now she writes, 
and reads, messages on a 
Belgian phone-sex service. 
“I make a better living than 
when I was teaching moral- 
ity,” she told an interviewer 
for Le Soir of Brussels. “And 
it’s an excellent exercise in 
style and writing tech- 
nique.’’ la the process, she 
has learned a good deal 
about European tastes. “I 
try to be D am boy an l and 

imaginative with French 
callers.” she says, “because 
they don’t accept mediocri- 
ty. Francophones, let us not 
forget, have an enormous 
store of culture on this sub- 
ject: De Sade, ‘Dangerous 
Liaisons,* ctc-And the Bel- 
gians? "They have a fantasy, 
for example, of making love 
in a church, because religion 
is a big taboo here —where- 
as a Danish man would 
shrug and say, ’So what?’ ” 

The book “Argot du Bis- 
trot” (“Bistro Slang"), by 
Roland Giraud, offers some 
useful vocabulary for lovers 
of these unpretentious 
French restaurants. Thus, 
“drowned dog” refers to a 
lump of sugar placed in 
black coffee; “umbrella syr- 
up” is water. The thick cloth 
that beer- truck drivers use to 
absorb the shock of the 
heavy kegs they unload out- 
side these clattering estab- 
lishments is known simply 
as “mother-in-law.” 


Brian Knowlton 



.'■v, . r i * 

•v; , 


Ii.Ti* Kl 111. I 


„ , ri m t _ _ ■ r\i it win r r i nut i 

OUT OF HIDING — Tasliiua Nasrin, who fled Bangladesh for Sweden in August 
after being threatened by Islamic fundamentalists with death because of her support 
of women’s rights, speaking Thursday at meeting in Lisbon of the International 
Parliament of Writers. She said she would eventually return to fight for equality. 


IRA’s Adams, Ex -Pariah, Gets 
A Hero’s Welcome in New York 


By Francis X. Clines 

V«n York. Times Service 

NEW YORK — AnfuHv 
casting off his old role as offi- 
cial pariah, Geny Adams, the 
political spokesman for the 
Irish Republican Army, 
beamed from the steps of City 
Hall as New York politicians 
ried to be at his side and hail 
him as honored guest and new- 
born statesman. 

With his State Department 
visa ban now a thing of the past, 
Mr. Adams, once imprisoned 
and often denounced hv Britain 
as an IRA terrorist, received 
multiple awards and heroic 
praise from city officials who 
welcomed him as a "harbinger 
of peace” and "a civil rights 
activist.” 

A relatively small lunch-hour 
crowd of a few hundred cheered 
him, but the domestic political 
value of Mr. Adams’s official 
turnabout was demonstrated by 
the throng of local politicians 
who crowded about Iiim. 

They pressed him to accept 
three different government 
proclamations, the Crystal Ap- 
ple award extended bv Mayor 
Rudolph W. Giuliani to rank- 
ing foreign dignitaries and a 
private New York Police De- 
partment boaL tour or Ellis Is- 
land and the Statue of Liberty. 


The man from Belfast was 
officially hailed as an Irish lead- 
er to be reckoned with by May- 
or Giuliani, whose former du- 
ties as the U.S. attorney in 
Manhattan included taking ac- 
tion against aliens who were 
IRA partisans. But with a 
cease-fire by the IRA this 
month, the mayor credited Mr. 
Adams on Wednesday with 
leading the guerrilla movement 
to a courageous step. 

"1 think President Clinton 
should greet him.” he declared, 
joining the Irish visitor’s own 
campaign Tor the Clinton ad- 
ministration to honor him with 
a White House visit, which 
would add to the pressure on 
London for peace talks that are 
open to leaders of Northern Ire- 
land’s militant Republican 
movement. 

Mr. Adams, the leader of 
Sinn Fein, the IRA’s political 
arm. stepped forward happily 
beneath a City Hall welcoming 
banner as the Police Depart- 
ment’s Emerald Society offered 
the bagpiped skirl of "Wrap the 
Green Flag Around Me. Boys." 

Mr. Adams thanked the city 
government for an “unwavering 
commitment" to economic- 
boycott pressures on Britain's 
Northern Irish government. 

Then be addressed Prime 


Minister John Major of Britan 
saying, “It is lime. Mr. Majo 
to go — to leave our count! 
and to leave us in peace.” 

He received no shortage i 
sympathy from a phalanx * 
politicians. The Irish group w. 
particularly delighted to he. 
Mr. Giuliani talk of the North 
suffering under an “outside A 
cupation force" — precisely ih 
characterization resented b;. ih 
North’s Protestant loyal:*.: 
who worry that the Brni> 
might eventually leave 
era Ireland. 

"We don't have p.-.u : ’ V 
Adams said. comp | UT , .-j '■ 
British troops still ■: 

North while loyalist 
have been :tn.:c*.::*L ' : 
Republicans and *• ■. 
headquarters in Pc •; 

Mr. Adams sc. v >' .■ 
ebullient mood 
part of u nmliKi:. t i* 

United Stales live 
Washington next ■■ ;■ ! 

Shadowed hv <*::•.• : 

British reporter de n -n 
know whether .» su-pict » 5 : 
gunman was part «d ’u- <:••!•■■ 
rage, Mr. Adams die" Liii.c**: 
at a City Hall new.- t'-n'ei. 
when he replied th.*t the 
now knows British justice is 
matter of “innocent until prm 
en Irish." 


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


i&'r S>,' 





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 
of airlines around the world, while winging your way to exotic Istanbul on Thai. The airline that's smooth as silk. % Tnai 





4k3ilSr 


age 6 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, SEPTEMBER 30, 1994 


flute®.: 


i 

/forth Korea and U.S. Suspend 
Talks Pending Consultations 


By R. Jeffrey Smith 

I Washington Past Service 

J GENEVA — The chief 
men can and North Korean 
igotiators suspended their 
Iks here Thursday after find- 
jg they were deadlocked on 
jy aspects of a potential ac- 
•wi eliminating North Korea’s 
ipability lo make nuclear 
Jns, U.S. and North Korean 
ficials said. 

At issue, American officials 
■id, are unacceptable new 
n°rth Korean demands for ad- 
ptional compensation for 
bopping its nuclear program. 
s well as new conditions that 
aorth Korea wants to impose 
i its month-old pledge to wind 
s>wn key portions of the pro- 
nam in coming years. 
oThe U.S. negotiator. Robert 
£ Gallucci, said Thursday 
ught that be and other senior 
aembers of the American dele- 
ition would return to Wash- 
ington on Friday for high-level 
tmsulia lions while technical 
I pert. s on the two delegations 
untinued informal talks about 
fveral disputed issues. 
vMr. Gallucci said he planned 
return to Geneva on Tuesday 
nd begin new talks the follow- 
sg day with his counterpart, 
torth Korea's deputy foreign 
sinister. Kang Sok Ju. Mr. 
rang told U.S. officials that. 
Eiile he would remain in Gene- 
t. he would consult with his 
pital. 

'Officials said the talks were 
5 pended at Mr. Gallucci's re- 
lest after seven straight days 
negotiation failed to produce 


any progress toward an accord 
spelling out the economic and 
political rewards North Korea 
would get for scrapping nuclear 
plants that Washington claims 
can be used to make nuclear 


weapons. 

“There’s distance between 
the two sides," said a U.S. offi- 
cial involved in the negotia- 
tions, "and on our side at least, 
it’s worth taking some lime to 
figure out where we go from 
here." 


The intense frustration ex- 
pressed by U.S. officials this 
week contrasts sharply with the 
upbeat mood they displayed af- 
ter reaching a preliminary ac- 
cord in August that spelled out 
what each side would do to Ful- 
fill the other's demands. 

U.S. officials had hoped dur- 
ing these talks to fill in the 
blank spaces on that accord, 
but said they instead found 
themselves confronting unex- 
pected new obstacles. They said 
they remain mystified by what 
they regard as a more hard-line 
stance by North Korea. 

One U.S. theory is that the 
North Korean team is deliber- 
ately s tallin g until their country 
formally names Kim Jong fi its 
new leader, possibly in mid-Oc- 
tober. Mr. Kim is expected to to 
succeed his father, Kim II Sung, 
the longtime North Korean 
president. American officials 
have speculated that North Ko- 
rean negotiators have been or- 
dered not to make any conces- 
sions until Mr. Kira has 
consolidated his position. 

Another theory is that the 


North Korean leadership may 
be riven by a dispute between 
two opposing camps, one that 
refuses to give up the nuclear 
program and another bent on 
forging new ties to the West. 

A third theory, one official 
said, is dial North Korean offi- 
cials “simply do not know how 
to take ‘yes' for an answer." and 
believe "that any deal Washing- 
ton is willing to accept can al- 
ways be improved. 

The two sides disagreed this 
week, for example, about 
whether South Korea can play a 
central role in supplying North 
Korea with two new light-water 
nuclear reactors. The reactors, 
which produce little plutonium, 
would replace graphite-moder- 
ated reactors that North Korea 
is now building, and which pro- 
duce large amounts of plutoni- 
um. the key ingredient of nucle- 
ar arms. 

The two sides also disagreed 
about North Korea’s plan to 
restart an existing 25-megawatt 
nuclear reactor that was shut 
down for refueling last May. 

They also differed about 
North Korea’s insistence on re- 
taining indefinitely an estimat- 
ed 8,000 spent fuel rods already 
discharged from that reactor, 
which are laden with enough 
plutonium to build one or two 
nuclear weapons. 

Washington had sought a 
North Korean commitment 
that the rods would eventually 
be transferred to another coun- 
try, ruling out any use of the 
plutonium in weapons. 




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Assassin 
In Mexico 
Reportedly 
Was Hired 


pi'fvel 


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JrtH Robin; Agcm (rjiiLe-i'rcw 


A group of Rwandan refugees sheltering at a church in the former French security zone in southern Rwanda. 


Report Finds 6 Organized 9 Tutsi Murders 


By Raymond Bonner 

.Vro York Times Service 

GENEVA — Soldiers of the new Tutsi- 
dominated Rwandan government are en- 
gaged in the “coordinated and organized” 
killing of Hutu villagers, according to a 
report by the United Nations High Com- 
missioner for Refugees. 

The report also says the new govern- 
ment has set up camps where it is de tainin g 
people after telling them to come to get 
food and clothing. At one compound, 
guarded by soldiers, there was a building 
“full of dead bodies,” the report says. Most 
of the victims were men. who had their 
hands tied behind their backs. 


The report was prepared by UNHCR 
field officers, and is separate from a report 
recently completed for the agency by a 
consultant, Robert Gersony. Mr. Ger- 
sony’s investigation has not been made 
public, and the UN secretary-general, Bu- 
tros Butros Ghali, has instructed UN offi- 
cials not to talk about it. 

Before the secretary-general’s “gag or- 
der” — as UN officials here are describing 
it — the High Commissioner for Refugees 
had issued a statement that Mr. Gersony 
had found evidence of systematic and 
widespread killing. Left unanswered by 
the agency’s statement was whether the 
killings had occurred during the Rwandan 


civil war, or since the new government 
came to power, in mid-July. 


The field officers' report, which is circu- 
lating among nongovernmental relief orga- 
nizations. corroborates Mr. Gersony ’s 
conclusion, and provides evidence of kill- 
ing of Hutu in August and earlier this 
month. 


By Ted Bardacke 

Washington Past Seme* 

MEXICO CITY — The fatal 

shooting of Jose Francisco Run 

Massieu, the No. 2 man m Mex- 
ico’s governing party, was car- 
ried out by a hired killer, 
sources said Thursday. _ 

But as the country tried to 
cope with the shock of its sec- 
ond major political assassina- 
tion in six months, the lack or 
any official explanation about 
the killing had Mexicans won- 
dering if they were in for the 
same kind of confused situation 
that followed the assassination 
Of Luis Donaldo Colosio Mur- 
eita in March in Tijuana. 

Mr Colisio was the presiden- 
tial candidate of the governing 

Institutional Revolutionary 
Party, known here as PRI. . 

Within hours of the killing 
Wednesday, the police said they 
had taken the suspected gun- 
man into custody for quesuon- 




The field officers interviewed 31 refu- 
gees, all Hutu, and said they found them 
“very credible.” The refugees told of 
Rwanda Patriotic Front soldiers “coming 
into their villages, taking people out of 
their homes, tying their hands behind their 
backs and killing them.” 


gnoring UN Assurances on Plague, Nations Warn Travelers to Avoid India 


International Herald Tribune 


The United States. France. Britain 
d Italy warned travelers Thursday 
avoid visiting India despite an ear- 
r assurance from the World Health 
ganization that visitors going there 
1 not need to change their plans 
:ause of the plague. 

\ WHO spokesman in Geneva 
d the organization was sticking by 
opinion that foreigners were high- 
unlikely to contract plague. It ad- 
ed particular caution only in visit- 
. the western city of Surat, the only 
ality declared an epidemic zone. 
Hie’ organization bases its advice 
information received from Indian 
dth authorities and its own region- 
office in New Delhi 
Hie spokesman denied a sugges- 
1 dial the health organization, a 


UN agency, might be taking a more 
relaxed position to avoid offending 
Indian sensibilities. If the organiza- 
tion thought there was a significant 
danger to travelers, he said, it would 
say so. 

With several countries breaking off 
air and sea contacts with India. New 
Delhi accused their governments of 
overreacting. The All-India Associa- 
tion of Industries said the nation “is 
working as normally as ever.” 

Officials said there was no plague 
risk in any of the main tourist areas, 
and most international airlines said 
there had not been a substantial num- 
ber of cancellations. But Air-India 
said it had lost half its business be- 
cause of a ban on flights by Gulf 
countries that has stranded" thou- 
sands of passengers. Hie mainly do- 


mestic Indian Airlines also was hit by 
the ban. 

The U.S. government issued a 
plague advisory Thursday, warning 
travelers to avoid areas of India 
stricken by outbreaks of the deadly 
disease. 

Federal health officials said for- 
eign visitors generally are at a low 
risk for plague Infection. But the 
Centers for Disease Control still rec- 
ommended that Americans avoid ar- 
eas known to be infested with rats 


and apply insect repellent to ankles, 
legs, clothing and outer bedding. 


legs, clothing and outer bedding. 

Egypt and Malaysia banned flights 
to and from India. 

Indian businessmen feared a cata- 
strophic impact on imports as Gulf 
countries turned back cargo ships 
and European importers suspended 


peanut exports from the epidemic re- 
gion. 

Some diplomats based in New Del- 
hi told reporters that they though t the 
government was concealing details of 
the outbreak, which has taken at least 
47 lives. 

In Paris, the Health Ministry said. 
“All persons planning to travel to 
India in the near future are advised to 
postpone their trips, unless there are 
imperative reasons, particularly to 
the northwestern states of India, in- 
cluding New Delhi and Bombay.” 

Britain's Health Department said 
that people should travel to India 
only if their visit was strictly neces- 
sary and that they should avoid Guja- 
rat state altogether. 

In line with screening practices in 
other countries, doctors at Heathrow 


Airport began boarding flights from 
India and checking passengers for 
high temperatures and breathing 
problems, two early symptoms of 
pneumonic plague. 

The main problem facing health 
authorities was how to identify peo- 
ple who may have become infected 
by plague but had yet to start show- 
ing symptoms. In cases of doubt, 
countries are authorized to detain 
passengers for up to six days, the 
incubation period for the disease. 

“There really isn’t any way of iden- 
tifying somebody who has pneumon- 
ic plague infection but is not yet sick 
from it.” said Malcolm Molyneaux of 
the Liverpool School of Tropical 
Medicine. 

“So there is no screening method 
that could be applied to healthy peo- 


ple to decide that they may soon be 


developing this illness,” he said. 
Israel told its nationals to canct 


Israel told its nationals to cancel all 
visits to India “at least until the ex- 
tent of the epidemic- and the health 
authorities’ ability to control it be- 
come clear.” 

The German government cau- 
tioned against plague hysteria. In its 
capacity as president of ihe European 
Union, however, it called a meeting 
of EU countries Friday to coordinate 
action in helping India and prevent- 
ing any outbreak in Europe. 

Russia suspended all tourist and 
business trips to India on Thursday. 
It said only diplomats and members 
of official delegations would be al- 
lowed to visit the country, and only 
on condition they were vaccinated. 

— BARRY JAMES 


His identity was unclear, 
with the police calling him ei- 
ther Joel or Hector Resen diz of 
Acapulco. 

El National, a government- 
controlled newspaper, reported 
that the suspect was named 
Daniel Aguilar Trevino, from 
the border state of Tamaulipas. 
The report said Mr. Aguilar was 
paid approximately $15,000 by 
two unidentified men to carry 
out the attack. 

A spokesperson for the attor- 
ney general's office said that the 
El National report “was not 
false.” 

The conflicting versions 
about the identity of the killer 
was reminiscent of the still-con- 
fused government account of 
the events saxrounding the Co- 
losio murder. 

Within days of the candi- 
date’s death, officials an- 
nounced that the suspected as- 
sassin, Mario Aburto Martinez, 
had atied in conjunction with 
at least five other men, some of 
whom were local PRI officials. 

Afterward, the special prose- 
cutor in the case, Miguel Mon- 
tes Garcia, said that Mr. 
Aburto had acted alone. Mr. 
Montes resigned his post a few 
days later. 

Those originally accused of 
assisting Mr. Aburto remain in 
custody. 


« 

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** 



New Rules on Safety 
May Prevent Repeat 
Of Sinking in Baltic 







By Barry James 

Imenuttumal Herald Tribune 

. Ship designers have known 
since the 1987 capsizing of a 
British ferry in Belgium that a 
relatively small amount of 
flooding can cause a a roll-on, 
roll-off ferry to founder. 

Ship construction experts 
said Thursday that an influx of 
water through the bow doors 
could have been the reason that 
the ferry Estonia sank in the 
Baltic Sea, lolling more than 
800 passengers and crew mem- 
bers. 

After 188 died aboard the the 
Herald of Free Enterprise, the 
International Maritime Organi- 
zation adopted several amend- 
ments to the 1974 Safety of Life 
at Sea Convention designed to 
improve the safety of passenger 
ferries. 

One amendment, adopted in 
1992, takes effect Saturday. It 
calls for improved stability of 
older femes after accidents’ and 

A Ferry Worker 
Tried to Sabotage 
The Estonia in *92 

Agence France-Presse 

STOCKHOLM — The ferry 
that sank in the Baltic Sea on 
Wednesday was the target of a 
sabotage attempt two years ago 
on a run between Stockholm 
and Tallinn, Estonia, the ship's 
owners, the Estline company, 
said Thursday. 

In that incident, a drunken 
Swedish repairman was caught 
trying to open water pumps and 
loosen pressure valves in the 
ferry's machine room, the own- 
ers of the Swedish-Estonian 
company said. A machinis t on 
duty noticed something wrong 
and halted the attempt in time. 

Had the repairman managed 
to cany on, his sabotage would 
have cut short the electrical cir- 
cuit and led to a loss of control 
over the vessel, called the Esto- 
nia, which was carrying 900 
passengers and 115 crew mem- 
bers at the time. 

The man was returned to 
Sweden locked in a cabin, the 
owners said, after the Scandan- 
avian airline SAS refused a re-' 
quest from the captain of the 
Estonia that he be flown, fear- 
ing he might attempt to sabo- 
tage the plane. 


for measures to ensure that cap- 
tains do not sail with open car- 
go doors. These measures have 
been required of all new ships 
since 1990. 

Another amendment calls for 
better subdivisions in cargo 
ships to prevent catastrophic 
flooding and improved damage 
stability. 

The Estonia had a fairly high 
classification that gave it until 
1999 to comply with the amend- 
ment 

The Estonia, which was built 
in West Germany in 1980. 
lacked many of these modern 
standards. 

Could it and ships like it be 
retrofitted with tetter safety 
features? 

“Bluntly, yes,” said Marshall 
Meek, a former president of the 
Royal Institution of Naval Ar- 
chitects in London. “Nobody 
wants to do it but the nub of 
the argument is this: Why 
should older ships be less safe 
than current ones?” 

“The simple fact is that if 
these ships are going to be made 
safer, as some of of us think 
they should be, they are going 
to be more expensive to build 
and perhaps more expensive to 
operate." 

For example, he said, putting 
in more bulkheads could slow 
down loading and unloading of 
the vessels. ‘That is the last 
thin g the operators want be- 
cause for them a quick turn- 
around is absolutely neces- 
sary,” he said. 

Mr. Meek said there were no 
formal regulations setting out 
the minimum time a ferry 
should remain afloat after suf- 
fering damage and how long it 
should take to evacuate the pas- 
sengers. 

'The maritime world is still 
too casual about these things,” 
he said. 

John Spouge, a naval safety 
consultant with DNV Technics 
in London, said the integrity of 
the door itself rather than the 
seal was crucial. 

“I think the probable cause 
of the ship sinking was a door 
being open or ajar rather than 
merely leaking,^ he said. 

Mr. Spouge said that after its 
engines stopped, the high-sided 
ship might have turned beam 
on to the storm-force winds, 
causing it to heeL This could 
have sent trucks careening 
against the doors. 


DISNEY: Park Project Abandoned 

Coutiinied from Page 1 provements from regional 

man. Michael Eisner, and his 
longtime colleague Jeffrey Kat- WjUTen Dahlstrom, 


„ . „ , __ , ... Peicr Dc Jmg/Thr Aiucuird Prrv. 

A guard standing watch Thursday over 41 coffins carrying the bodies of ferry victims to Helsinki for identification. 


zenterg resulted in Mr. Katzen- 
berg’s departure, disrupting op- 
erations in several areas of the 
company. Mr. Eisner also re- 
cently had heart surgery. 

Mr. McPherson said he 
would be happy to help Disney 
officials find another location 
in Virginia that would be less 
significant historically. “Some 
of us mil be quite happy to 
advise them,” he said. “This has 
never teen an attempt to bash 
Disney.” 

The major opposition group 
to the project, the Piedmont En- 
vironmental Council, “from the 
beginning was hoping that Dis- 
ney would take a second look,” 
said Christopher Miller, a 
group spokesman. “We're 
pleased they’ve made lhat deci- 
sion." 

T don’t get it; they would 
have won," said Richard L. Sas- 
law, a state senator and Disney 
booster. “They would have 
opened the damn place. It'd be 
different if they were losing, but 
they were winning every" bat- 
tle." 

Disney recently won approv- 
al for rezoning from the local 
planning commission and ap- 
proval for maj'or highway im- 


a vice 

president at the Corey Winston 
Co. real estate brokerage, said 
wealthy landowners who had 
objected to the project, and to 
the sprawl they said it would 
have spawned, were to blame 
for Disney's change of plans. 

What it showed was the raw 
economic clout “of a very quiet 
but powerful landed gentry 7 who 
wrested control from the aver- 
age folks who wanted the pro- 
ject," he said. 

For Virginia's Prince William 
County, Disney held the prom- 
ise of more than 3,000 jobs di- 
rectly related to the theme park, 
as well as thousands of spin-off 
jobs as development was drawn 
to what many thought would 
become a major suburban em- 
ployment center around Dis- 
ney's America. 

The county, whose popula- 
tion exploded by 50 percent 

during the 1980s and now is 
about 240,000, has been hard- 
pressed to raise ihe revenue 
needed to educate and serve all 
its new residents. 

Disney estimated that when 
the theme park development 
was complete, the county would 
have collected nearly 512 mil- 
lion annually in additional rev- 
enue. 


DlVCrS T^lll Begin Scnrch for Bodies TRADE: US.- Japan Compromise Expected in Tokyo 


Reuters 

AMSTERDAM — Divers 
will soon start trying to recover 
bodies trapped below decks of 
the Estonia, 90 meters down on 
the Baltic seabed. 

"The first priority is to gel 
the bodies back." said Eldine 
Habig, a spokeswoman for the 
salvage company Wijsmuller 
Salvage. 

Wijsmuller has been asked by 
the Estonian government to 


plan an operation to try to re- 
cover the victims' bodies. 

Russia said Thursday that 
Finland had asked for Russian 
help in raising the Estonia and 
recovering bodies. 

Karl Smolnikov, a spokes- 
man for the Russian minis try 
that deals with emergencies, 
said the ministry would send a 
group of experts to the Finnish 
port of Turku on Friday to 
study ways the operation could 
be carried out. 


Miss Habig said divers — 
breathing a mixture of helium 
and oxygen to counter the ef- 
fects of working at such depths 
— would try to explore the 
wreck. 

She said strong currents and 
the danger to the divers could 
make a search hazardous. 

A final contract to begin sal- 
vage work would not be award- 
ed until an inquiry had estab- 
lished the position of the hull. 


Continued from Page 1 

sectors, Washington could des- 
ignate Japan as a “priority’” 
country under the Super 301 
trade act, leading to sanctions 
12 to 18 months later. 

If Washington puts on sanc- 
tions, Tokyo has threatened to 
break off the talks and file a 
lawsuit against the action with 
GATT. The yen could soar. 

The Clinton administration 
also faces a potential backlash 


from industry groups demand- 
ing a Japanese commitment to 
increased sales. “If the formula 
doesn't include the words ‘sales 
and share' the agreement is 

worthless,” said John Stem, 
representative of the American 
Electronics Association in To- 
kyo. “Agreements that can be 
construed differently by both 
countries are dangerous to the 
U.S.-Japan relationship be- 
cause they are nothing more 


than agreements to disagree.” 

Still, the betting is on the fol- 
lowing: 

• Insurance: The United 
States and Japan reach agree- 
ment on deregulatory measures 
to bolster foreign access to the 
Japanese insurance market. 

• Flat glass: In a largely sym- 
bolic slap at Tokyo, the United 
States begins an investigation 
into Japan's glass market under 
its Super 301 trade legislation. 


FERRY: Ship ’s Owner Unsure How Breach Occurred POLLUTION: Boomtime in East Asia Proves Acrid 


Continued from Page 1 

in Helsinki but that he had not 
yet been seen or interviewed by 
the Finnish authorities or by 
the ferry company. 

They said Captain Piht was 
the only senior crew member 
known to have survived. 

A Swedish-Estonian-Fmnish 
commission is being set up to 
conduct the investigation into 
the sinking. Mr. Forsberg said 
lhat the ferry would probably 
not be raised to the surface but 
that divers would examine and 


film the wreck, on the sea floor 
several hundred feet down, as 
soon as possible. 

Officials said the govern- 
ments had not decided whether 
to try to recover the bodies of 
those trapped in the ship. Many 
people are believed to have 
been asleep in cabins on the six- 
deck ferry when it went down. 
Search teams had recovered 65 
bodies from the surface by late 
Thursday. 

“One thing you really heard 
were the screams of women out 
in the sea." said Hannu Sep- 


panen, a Finn who was one of 
one of the 140 or so survivors. 
“The screams of women.” 

The precise number of the 
missing and dead remained un- 
certain because of conflicting 
reports about how many people 
had been on board the 157-me- 
ter (515-foot) Estonian-flagged 
vessel when it set out from Tal- 
linn. The feny’s operator said 
982 people had been on board, 
but Estonian officials said the 
passengers and crew members 
had totaled 1.049. 


Continued from Page 1 

Straits Times in Singapore said 
that both countries “should tell 
the Indonesians firmly but po- 
litely that they could be more 
purposeful about preventing 
fires.” 

Similar transborder environ- 
mental disputes are occurring 
elsewhere in East Asia. 

For example, Japan is being 
increasingly affected by acid 
rain caused by sulfur and nitro- 
gen fumes from burning coal 


for power, industry and home 
heating in China. 

Vietnam is concerned that 
Thailand will draw excessive 
amounts of water from the Me- 
kong River in the dty season, 
thus increasing intrusion or salt 
water from the sea into the Me- 
kong Delta region of southern 
Vietnam, the country's main 
rice-growing area. 

“As Southeast Asia becomes 
industrialized, demand for wa- 
ter will rise sharply, and so will 
conflict between users,” said 


Cbee Yoke Ling, a lawyer with 
the secretariat in Penang for the 
nongovernment Asia-Pacific 
Environment Network. 

These conflicts will probably 
be difficult to resolve, because 
poorer nations will seek aid* 
from richer neighbors as the 
price for curbing pollution, just 
as Western Europe has had to 
invest heavily in environmental 
control in Eastern Europe for 
sell-protection. 


Next: The high cost of clean- 
ing ttp in East Asia 


Investing in New 
Infrastructure 
for Europe 

Berlin • Kempinski Hotel - November 3 & 4 








This major international conference will provide senior 
executives involved in Europe’s new infrastructure projects 
with the ideal opportunity to meet, enter into discussion 
and to do business. 

To join them, contact Brenda Erdmann Hagerty in London 
on Tel: (44 71) 836 4802 or Fax: (44 71) 836 0717. 


SKADDEiM 
ARPS 

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MEAGHER & 

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iacralOaagsMtrtbune 


i Utah 


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Jbc fifth in a now ever- more-routine 
series of meeting, between Bill Clinton 
and Boris Yeltsin marked an ironic rever- 
sal. Once all but written off as a would-be 
reformer who had failed, the Russian pres- 
ident came to Washington hailed for hav- 
ing calmed the political storms and made 


progress in privatizing and fighting infla- 
tion. It was mostly the American presi- 


tion. It was mostly the American presi- 
dent, who is in deep water politically, of 
whom it could be said that he “needed" a 
summit. That goes too far, but Mr. Clinton 
did make good use of this one. 

He and Mr. Yeltsin bore down on the 
right place: on expanding economic ties. 
Earlier notions that Russia would launch a 
market revival from a platform of Western 
public aid have yielded to a more realistic 
emphasis on increased private foreign in- 
vestment This does not spare the Russian 
people the human costs, of Great Depres- 
sion dimensions, of the new Russian revo- 
lution. But meanwhile it offers Americans, 
especially oil investors, large opportuni- 
ties. No other American president has 
worked harder and more openly, as Mr. 
Clinton promised he would, to carry the 
banner of business abroad. 

In the non-job-relnted parts of policy, 
Washington continues to have problems 
in dealing with Moscow. Not Cold War- 
sized or -shaped problems but differences 
of outlook on regional issues that persist 
and must be dealt with seriously. This 


Senator vs. World Trade 


Ernest Hollings, chairman of die Senate 
Commerce Committee, declared Wednes- 
day that be would keep the Senate from 
voting this session on the trade accord that 
the Clinton administration signed with 
more than 100 other countries last April in 
Marrakesh, Morocco. This is a destructive 
bow to the demands of textile firms in his 
home state of South Carolina, who fear 
competition from abroad under the ac- 
cord. If Mr. Hollings is successful he 
would delay and possibly block for good 
approval of a bill that would add S200 
billion a year to the U.S. economy. 

Mr. Hollings is the main culprit, but 
the White House was his enabler. It dal- 
lied in getting the legislation to Congress. 
Then it rejected advice to sidestep Mr. 
Hollings's committee. The danger is that 
the Senate vote could be delayed until 
next year, or longer. Delay, in turn, could 
jeopardize approval here and abroad. 


e legislative rules that govern the 
accord are known as fast track. 


trade accord are known as fast track, 
which requires Congress to vole quickly 
and without amendment. Under the 
rules, Mr. Hollings's committee has 45 
days to deliberate before sending the bill 
to the floor. But the 45-day period did not 
begin until Tuesday, when the adminis- 
tration delivered its bill to Congress, and 
Congress is due to break in nine days. 

The administration took months to set- 
tle upon ways to pay for the bill; it spent 
precious weeks fighting, unsuccessfully, 
for a provision to apply fast track to 
future trade deals. By the time the trade 
bill arrived at Mr. Hollings’s door, he 
could put off a vote past the end of the 
session, in effect nullifying fast track. 

Even as late as Tuesday, however, the 
administration could have run around Mr. 
Hollings by removing two nonessential 
provisions from its bill, denying the Com- 
merce Committee jurisdiction. But the ad- 


Plague Need Not Rage 


An epidemic of plague has struck In- 
dia. sending hundreds of thousands of 
terrified residents fleeing from the indus- 
trial city of Surat. It is primarily an out- 
break of pneumonic plague, the most 
virulent, most contagious form of the 
disease, which is spread by coughing. 

But as the panic mounts in India and 
other countries, it is reassuring to recall 
that this disease, for all its historic savage- 
ry, should be readily manageable in the 
modem world. There are potent antibiot- 
ics to treat the victims, sanitation measures 
to reduce rat populations that harbor the 
lethal bacteria, and pesticides to kill the 
rats and fleas that spread the disease. 

The fight may be difficult in India, 
where millions of impoverished citizens 
live jammed in slums with poor sanitation 
and rudimentary health care. But even 
there, a vigorous public health campaign 
should be able to contain the epidemic. 

Historically, plague has emerged re- 
peatedly from animal reservoirs in Asia 
to devastate humanity. In the sixth centu- 
ry' A.D.. it ravaged the Byzantine Empire, 
lulling perhaps 40 percent of (he popula- 
tion of Constantinople. In 14th century 
Europe, as the infamous Black Death, it 
killed 20 million people in four years. 

Early in this century, it caused 10 mil- 
lion deaths in India alone. By contrast, 
deaths in the current outbreak are offi- 
cially measured in scores and suspected 
cases are put between 1,000 and 2.000. 


How bad the epidemic is and how bad it 
will become, nobody yet knows. 

Unfortunately, the initial response in 
India was sluggish, judging from press 
reports. Many doctors and other health 
workers reportedly fled from Surat rather 
than fight the epidemic. No senior offi- 
cials from outside the city even paid a 
visit for six days after the first reported 
death. Emergency stocks of medicines 
were slow in arriving. There was no aggres- 
sive effort to find and treat plague victims, 
discourage panicky flight that could 
spread the disease, fumigate the pests or 
clean up rodent-attracting garbage. 

That neglect has apparently been rati- 
fied in recent days as a flood of antibiot- 
ics has been poured into Surat, where the 
crisis may be ebbing. But now the disease 
is spreading throughout India, with small 
numbers of suspected cases reported in at 
least 20 different cities and towns. 

The U.S. federal Centers for Disease 
Control and Prevention is increasing sur- 
veillance at America’s airports, where it is 
handing out notices alerting travelers from 
India to watch for such symptoms as fever, 
chills, headache, general aches and pains, 
painful swellings in the groin, armpit or 
neck, and coughing or difficult breathing. 
The alert describes the danger to travelers 
as “extremely small.” Fearsome as this 
disease was in the past, it is no match for 
modem medicine, aggressively applied. 


— THE N£li YORK TIMES. 



International Herald Tribune 

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FRIDAY, SEPTEMBER 30, 1994 

OPINION 


time the two leaders treated their tensions 
over Bosnia, where a risk yet exists of a 
deepening proxy war. and lran. where a 
formula was drafted to cut back Russian 
arms supplies to this outlaw state. 

Still troubling, however, is the Azerbai- 
jan- Armenia war. which Russia has made 
a test case of assertiveness in its “near 
abroad.” One case where the Clinton 
team ought to have more of a problem 
with Moscow is NATO membership for 
East European states. Washington has 
sometimes not been attentive enough to 
the anxieties of these new democracies. 

Their giant remaining nuclear stock- 
piles compel both countries to keep mak- 
ing their arsenals less threatening and. in 
Russia's case, more secure, too. Mr. Yelt- 
sin, expressing Russia’s claim to remain a 
global player, had a whole clutch of new 
disarmament proposals. It's fine, to take 
one, to set a deadline of next year's 50th 
anniversary of the United Nations for a 
comprehensive nuclear test ban treaty. 
The prompter nuclear reductions that 
were announced are also fine. But the 
higher priority is for Moscow- to make 
good on its big reductions pledges of the 
past Airy declarations of intent were the 
frequent and disappointing stuff of di- 
plomacy between bouts of Cold War con- 
frontation. They should have no place in 
the new era of “pragmatic partnership." 
- the Washington post. 



Carrots for Koreans: 


Alas, die Safest Way 


By George 

C HARLOTTESVILLE, Vir- 
ginia — Critics of the Clin- 


gim a — Cnacs Ot me s-uu- 

ton administration's North Ko- 
rea policy denounce it as a kind of 
“payoff” to that country- They 
contend that the administration 
is setting a terrible precedent for 
future extortionists by negotiat- 
ing incentives for Norm Korea to 
abandon plutonium production 
and join the international com- 
munity. Such critics fail to under- 
stand (dial it will lake to solve the 


Perkovich 

It has no standing to seek deals. 

• Iran is tfauskft as the one 
somewhat feasible North Korea 
copycat Yet the U-S. commit- 
ment to block supplies to the Ira- 
nian program remains unshak- 
able (as it should), and Iran, is 


aDie [as u auw**-/* .ri,. 

confronted with the possibility 
that the development of North 


that the development of North 
Korean-like production faculties 
would be preempted by Israeli or 

American military attack. , 

Were Iran somehow to obtain 


toughest proliferation challenges 
in me post-Cold War world. 

The U.S. objective goes beyond 
bringing North Korea into com- 
pliance with the Nuclear Nonpro- 
liferation Treaty. That treaty al- 
lows North Korea (or any other 
signatoiy) to produce and repro- 
cess plutonium os long as it veri- 
fies. through safeguarding ar- 
rangements, that no diversion for 
weapons has occurred. North Ko- 
rea’s treaty violation does not stem 
from the acquisition of plutonium 
but from the undeclared and un- 
verified way it proceeded. 

The world would be safer if 
North Korea and other hostile 
states avoided possession of pluto- 
nium altogether. This, along with 
inspections to clarify past North 
Korean plutonium production, is 
what the Clinton administration 
has been Dying to negotiate in 
the talks in Geneva. 

Naturally, North Korea seeks 
to exact a price. Not only does 
Pyongyang want benefits for re- 
versing its withdrawal from the 
nonproliferation treaty, it also 
wants to be compensated for 
switching away from the alarm- 
ing plutonium program. 

unsavory business, true. But 
the basic bargain is good for the 
international community. If the 
administration can effect the bar- 
gain, criticism of the means over- 
looks the significance of the ends. 

The North Korean case need 
not affect strategies toward most 
other states. Consider the five 
countries that pose the greatest 
nuclear proliferation concerns: 

• Israel already receives more 
U.S. aid than any other state, 
withouL having to constrict its nu- 
clear program. 

• Pakistan has been seeking for 
yean* to have U.S. sanctions lifted 
in return for ceasing high enrich- 
ment of uranium. The North Ko- 
rean “precedent” will not change 
the terms of this dialogue. 

• India continues to develop its 
nuclear weapons program and 
has resisted inducements to con- 
strain or roll it back. 


Following the Europeans to Dishonor 


By William S afir e 


L ONDON — Taking advantage of a weak Ameri- 
j can president. Britain and France — partners in 


Because the United States has a national interest 
in the defense of Europe, it must not let the trans- 


ministration was not certain the strategy 
would work and feared alienating the 
chairman. With the benefit of hindsight, 
the White House seems to have erred. 

If the trade bill is put off until next year, 
it might not qualify for fast-track status 
because the statute expires at the end of 
the year. That would open up the bill to 
deal-breaking amendments. The loss 
would be large. For 50 years, the United 
States has led its partners through success- 
ful rounds of open trade accords, each one 
giving a powerful boost to the world econ- 
omy. The Marrakesh accord would add 
trillions to world production by disman- 
tling barriers to trade and investment 

The administration has possible ways, 
none good, to get the trade bill back on 
track. It could pressure Mr. Hollings. but 
that is likely to fail. It could try a quick 
maneuver to grab the bill away from the 
Commerce Committee, but the tactic is 
legally suspecL The fallback tactic, men- 
tioned by the president is to keep the 
Senate in session, at leasL officially, 
through elections so that the 45 days 
elapse and the Senate is forced to vote 
after elections. This strategy seems feasi- 
ble, but it would also be ugly: visibly 
displaying the administration's inability 
to push high-priority bills through a 
Democrat-controlled Congress just as 
voters prepare to cast their ballots. 

This has been a brutal week for Mr. 
Clinton. The Senate majority leader. 
George Mitchell, buried health care re- 
form, blaming obstructionist Republi- 
cans. Now. a fellow Democrat knocks 
down the administration's second most 
important initiative, free trade. The ad- 
ministration unwittingly aided and abet- 
ted. But Mr. Hollings has single-handed- 
ly jeopardized the economic fortunes of 
the world for some parochial interests. 

— THE NEW YORK TIMES. 


±—i can president. Britain and France — partners in 
appeasement iu Bosnia — have seized leadership of 
tiie Atlantic alliance. 

The American idea was to enforce a cease-fire 
with NATO air power, while lifting the one-sided 
arms embargo to allow Bosnians to defend them- 
selves against insatiable Serbs. In that way. a bal- 
ance of power could be achieved on a territorial 
division recommended by the United Nations and 
accepted by the Muslims and Croats. 

But the British-French notion was to put peace- 
keeping troops in Bosnia that confirmed the Serbi- 
an gains and restrained further killing until the 
victims of aggression gave up. 


Atlantic change in leadership thrust it into iso- 
lation. Accordingly, a fair adjustment should be 


Prodded by Congress. Mr. Clinton prepared to go 
* the LIN Security Council to lift the embargo. To 


to the LIN Security Council to lift the embargo. To 
prevent this, the Brits and French then twisted the 
arm of Bosnia until it broke. They warned Sarajevo 
that unless Bosnia told Mr. Clinton to stop, they 
would pull out their peacekeepers before weapons 
could be supplied and let Serbian carnage begin just 
in lime for winter. 

Not since World War II has the world seen such 
callous betrayal. Bosnia, fearful of lotai desertion, 
was forced to cave in. and asked Mr. Clinton to 
accede to British- French policy. This he did wiih 
alacrity. Thus, instead of leading NATO into en- 
forcement of the UN -recommended division of 
Bosnia, the United Slates is meekly following its 
allies down the path of dishonor. 

Let's face it: In this test of the will to abandon 
collective security, tbc Europeans prevailed. Ameri- 
can diplomacy failed. 

Tis a famous victory for Prime Ministers John 
Major and Edouard Bahadur, and another igno- 
minious defeat for Bill Clinton. New let's sec what 
Europeans won: They won the right to defend 
Europe much more by themselves. With local lead- 
ership goes increased local responsibility for n> 
doctrine of assertive appeasement. 

NATO exists (a) to stop the threat to its members 
from Russia, which is temporarily much reduced, 
and (b) to act as a unified military command to 
meet threats of aggression elsewhere, which it has 
just demonstrated it has not the will to do. 


Union. Accordingly, a fair adjustment should be 
along these lines: 

1. Troop strength: Of 161.000 .Americans now in 
the region, half are in Germany: the total is planned 
to come down to 100,000. That is high for a non- 
leadership role. The United States should limit its 
commitment to 50.000, mainly air and sea forces, 
most in the Mediterranean; the U.S. drawdown 
should encourage other members of NATO to wel- 
come Poland, which can provide ground troops on its 
soil and replace U.S. forces in Germany. 

2. Command: Saceur. the Supreme Allied Com- 
mander in Europe, has always been an American 
because (a) U.S. troops were’ a vital component of 
NATO forces and (b) the United States wanted an 
American in charge of its theater nuclear weapons. 
Soon those reasons will no longer apply. 

Tune for Saceur to be a European. A likely 
candidate would be the UN's Sir Michael Rose, 
the British lieutenant general whose permission to 
NATO aircraft to lake out one empty Serbian tank 
does not quite recall the exploits of Montgomery 
at EJ Alamein. 

3. Political scope: A Euro-Saeeur would open the 
possibility of an American becoming, secretary-gen- 
eral of NATO. If the Europeans desired an Ameri- 
can political presence, they might someday draft a 
Dick Cheney to be a one-man tripwire rather than 
Willy Claes, the experience-free Belgian socialist 
bureaucrat just chosen. 

Besides strategic superstars Henry Kissinger 
and Zbigniew Brzezinski. who are the Big Ten 
thinkers to cope with Europe's era of assertive 
appeasement? in the United States. Robert Black - 
will and Sam Huntington of Harvard; Eliot Cohen 
of Johns Hopkins: Edward Lultwak and Rob- 
ert Kagan. In Britain. John Chipman of the 
Institute of Strategic Studies: in France. Franco is 
Heisbourg and Pierre Lellouche: in Germany. Die 
Zeit's Christoph Bertram: and in Russia. Sergei 
Karaganov. 

Over to you. fellows: what happens when a deter- 
minedly impotent consensus wrests leadership from 
a supine superpower? 

The New York Timex. 


It would fed, better 
to punish Pyongyang. 
But that might not end 
the nuclear threat. 


the weapons capability now as- 
cribed to North Korea and then 
turn around and seek a “deal” to 
abandon it, the international 
community would have to weigh 
the costs and benefits of this op- 
tion against the alternatives. 

The administration's induce- 
ment strategy is the only one that 
the American public and the in- 
ternational community will sup- 
port economically, militarily and 
politically at this time. 

The likely ineffectiveness and 
high costs of military options 


have been widely recognized. 
Supposed surgical strikes could 
not reliably destroy the posable 
North Korean weapons), but 
would trigger war, which the peo- 
ple of America, South Korea and 
Japan would not support. Sanc- 
tions are seen more as a protest 
and p unishm ent than a decisive 
tool to denuclearize North Korea. 

Current and probably future 
proliferant states cannot be 
swayed by appeals to treaty obli- 
gations or morality, especially as 
long as these states face serious 
security threats. The task, then, is 
to create new interests for these 
states to abandon nuclear capabil- 
ity. Coercion is one way. Interna- 
tional leaders should do more to 
prepare publics for the burdens of 
forcible nonproliferation where 
necessary. But coercion may not 
move regimes whose leaders arc 
personally or culturally unable to 
retreat, as in North Korea or Iraq. 
Such leaders must be positively 
induced or militarily defeated. 

In risk-averse democracies, the 
positive strategy will win most 
cost-benefit analyses. 


• Iraq is subject to UN con- 
straints; its nonnuclear status is 


enforced as a consequence of war. 


The writer is director of the Se- 
cure World Program of the W. Al- 
ton Jones Foundation. He contribut- 
ed this lb The Washington Post 


American Special Interests Could Nitpick the GATT Accord to Death 


W ASHINGTON — The fight 
over GATT is getting ugly. 


W over GATT is getting ugly. 
An odd alliance including power- 
ful Senate mandarins and the con- 
sumer advocate Ralph Nader is 
doggedly committed to defeating 
the new trade law — which ex- 
tends the General Agreement on 
Tariffs and Trade — by nitpicking 
it to death. It may just succeed. 

The emotions over GATT ex- 
ploded Wednesday with a pledge 
by Senator Ernest Hollings. Dem- 
ocrat erf South Carolina, to block a 
vote this year. Under ihe special 
“fast track” rules for considering 
trade legislation. Mr. Hollings has 
the power to bold the GAIT legis- 
lation in his Commerce Commit- 
tee for 45 days, or past Congress’s 


By Hobart Rowen 


scheduled OcL 7 adjournment 

An angry President Bill Clin- 
ton told a news conference he 
would keep the Senate in special 
session if need be to overcome 
Mr. Hollings's tactic. GATT- 
friendly senators are looking for a 
way to circumvent Mr. Hollings. 

It has become increasingly 
clear that the administration 
might be frustrated in its effort to 
get GATT through Congress this 
year, especially through the Sen- 
ate. where influential committee 
chairmen, such as Mr. Hollings 
and Patrick Leahy, head of the 
Agriculture, Nutrition and For- 
estry Committee, conducted a 


last-ditch effort to protect special 
interests they represent from the 
new. liberalized trade rules. 

GATT would be hugely benefi- 
cial to the United States. In addi- 
tion to lowering tariffs and reduc- 
ing consumer prices, it adds rules 
for trade in services, adds protec- 
tion for intellectual property 
rights and modernizes procedures 
for resolving trade disputes. 

There are flaws to the treaty: It 
doesn't cover financial services, 
and it has weaknesses on environ- 
mental issues. Mr. Nader also has 
argued the case that GATT stan- 
dards on hormone-treated beef 
are weaker than America’s own. 


Population: Bangladesh Is No Model 


A MHERST. Massachusetts 
. — In drawing attention to 


zV — In drawing attention to 
the need for better family plan- 
ning and reproductive programs 
worldwide, the International 
Conference on Population and 
Development in Cairo this 
month was proclaimed a great 
victory for women. A sobering 
reality, however, has largely 
been overlooked. Some pro- 
grams held up as models at the 
conference have actually under- 
mined basic health care and 
limited women's choices. 

Consider Bangladesh, often 
cited by population experts as a 
success story. Bangladesh's fer- 
tility rate has declined from sev- 
en births per woman in 1975 to 
fewer than five today — a con- 
siderable achievement in a 
country that is the world's most 
densely populated and getting 
more crowded. Yet population 
agencies fail to acknowledge the 
human costs of its aggressive 
family-planning policy. 

When 1 was doing research in 
rural Bangladesh in 1975. I 
found that both men and women 
were interested in birth control 
but were often unable to get iL 
Where it was available, it was 
usually provided without proper 
instructions or follow-up care. 

The absence of medical atten- 
tion was not surprising. At the 
time there was virtually no pri- 
mary health-care system in the 
area or in most places outside 
the major cities. 

Unfortunately, that is still 
true today. Over the last two 
decades. Bangladesh, encour- 
aged by international develop- 
ment agencies, has embarked on 
an ill-conceived crusade for 


By Betsy Hartmann 


population control that has 
worked against establishing a 


primary health-care system. 

In tie early 1980s, bodies 
such as the World Bank and the 
U.S. Agency for International 
Development called for a dras- 
tic reduction in Bangladesh’s 
population growth. Those calls 
led to a beavy-banded campaign 
that emphasized sterilization 
over temporary birth-control 
methods and all but neglected 
basic health care. 

Women and men were offered 
cash for being sterilized, health 
workers received a fee for each 
client they recruited for steriliza- 
tion and doctors were paid by 
the case, encouraging them to 
rush through operations. Wom- 
en were the mam targets of this 
campaign, even though steriliza- 
tion is far less risky for men. 


A 1983 investigation of gov- 
nmenl clinics bv the World 


emmeni clinics by the World 
Bank f ound that doctors operat- 
ed in appallingly unhygienic 
conditions and that women 
sometimes submitted to Steril- 
izations without being told that 
the operation was permanent. 
That sam e year, AID officials 
complained to the Bangladeshi 
government about reports of a 
coercive campaign by the army 
to sterilize women in one poor 
tribal community who had more 
than three children. 

A year later. British develop- 
ment workers discovered that 
officials in flooded areas were 
withholding emergency food 
aid from poor women unless 
they agreed to be sterilized. 


The sterilization drive had a 
devastating impact on the coun- 
try's fledgling health care efforts. 
Sterilization fees paid to local 
health workers, for example, 
caused them to neglect their oth- 
er duties. Since the mid-1980s, 
population control programs 
have absorbed one-thud of the 
country's total health budget 
Concerns over Bangladesh’s 
record led European donors to 

? ress for reform in the mid- 
980s. But while sterilization 
rates have been declining, the 
operation remains the govern- 
ment's chief method of popula- 
tion control. And while Bangla- 
deshis now have better access to 
other methods, they are still rare- 
ly provided with adequate medi- 
cal supervision or follow-up care. 

Bangladesh gives the lie to the 
claim that family planning is the 
best way to improve women and 
children’s lives. Maternal death 
rates are still extremely high be- 
cause there is little decent preg- 
nancy care, and the small im- 
provement in infant mortality is 
Largely due to a childhood immu- 
nization drive in the late 1980s 
and better control of dysentery. 

A comprehensive primary 
health-care system with volun- 
tary family planning would 
meet Bangladesh’s needs far 
better than its present popula- 
tion control program. Instead 
of praising the Bangladeshi 
model, tbc experts should learn 
from its mistakes. 


But a treaty as all-encompassing 
as GATT has to be considered on 
an overall benefit basis, which 
lips heavily in its favor. 

I have admired Mr. Nader's 
commitment to consumer causes. 
But he has joined a cabal of pro- 
tectionists who try to blame far- 
sighted trade legislation for unem- 
ployment in the United States, 
especially in the manufacturing 
sector. Respected economic stud- 
ies show, however, that trade is 
only one of many forces affecting 
wages or the level of jobs. 

One problem that the Clinton 
administration has had to over- 
come is a requirement that Con- 
gress “find" money to compen- 
sate for any losses in tariff 
revenues. I am in receipt of a fax- 
broadside from Mr. Nader that 
attacks the administration’s 
GATT financing package as “a 
joke” full of “accounting tricks.” 

“Does this at least trouble your 
sense of governmental standards?” 
Mr. Nader asks. It does. But the 
question of having to “finance” 
GATT is a joke to begin with. 

Because one of the great 
achievements of the new GATT 
treaty is to sharply reduce tariffs, 
the Treasury wifi initially lose 
revenue. But the econo my will 
expand as a result of GATT and 
eventually more than make up 
those losses. The tariff loss is put 
at about $12 billion in the fust 
five years and as much as $40 
billion in the first 10 years, pid- 
dling amounts in a multitrilUon- 
doUar economy that will be sub- 
stantially expanded by GATT. 


Mr. Nader's complaint is that 
the financing pack age worked out 
by the administration for the first 
five years is made up largely .of 
gimmicks and “funny money”: 
only $6.2 billion, he says, is real. 

The whole exercise of attribut- 
ing revenue losses to GATT is part 
of a wicked political game. The 
tariff losses mould have and could 
have been waived, as Newt Ging- 
rich, the House minority leader, 
offered to do. But the Democrats 
sensed a trap involving a future 
Republican proposal to cut capital 
gains taxes: If they agreed to a 
waiver of pay-as-you-go rules be- 
cause the GATT ultimately would 
produce a larger GDP, returning 
tax revenues to the Treasury far 
exceeding any immediate tariff 
losses, they feared the Republicans 
could use the same argument to 
contend that any capital gains tax 
losses would be made up by a 
booming economy in future years. 

Another disruptive tactic being 


discussed by GATT opponents is 
to raise a point of order in the 


to raise a point of order in the 
Senate, .where the budget rules re- 
quire coverage of the first lO years’ 
tariff losses, instead of only the 
first five years, as in the House Ml. 

If GATT dies or is held over to 
an uncertain fate iu next year's 
Congress, it will represent a tri- 
umph of narrow interests. 

The Washington Post. 


A two-pan opinion c oh/aut by Ho- 
bart Rowen ( Sept 13 and 14) was an 
excerpt from his book. “Self-Inflicted 
Wounds : From LBPs Guns and Butter 

to Reagan’s Voodoo Economics.” 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


1894: Cigarette limits? 


PARIS — The Minister of Fi- 
nance proposes in the revised 
budget of 1895 to practically 
abolish the manufacture of ciga- 
rettes for so-called free distribu- 
tion. The Minister proposes to 
limit the number of cigarettes 
made by the employes of a pro- 
prietor of a shop to 100 as a 
maximum, thus hoping to stop 
the fraudulent sale of tobacco. 


tion to it not only of the Govern- 
ment but of the nation as a whole. 
It is realized by all except the 
strikers, misled by a group of 
counterfeit Lenins, that the 
movement must be broken, oth- 
erwise the anarchy that bolshe- 
vism has created in Russia will 
be duplicated in England.” 


1944: ffimmkr’sPlot 


1919: Striking Xening’ 


Betsy Hartmann is author of 
the forthcoming “ Reproductive 
foghtf and Wrongs.” She con- 
tributed this comment to The 
Hew York Times. 


LONDON — There is every indi- 
cation that the railwaymen's 
strike will be fought out to a fin- 
ish on both sides. It is now certain 
that the Government will bring 
against the strikers aU the re- 
sources of the State, civil and mil- 
itaty. [The Herald says in an edi- 
torial:] “One reassuring sign in 
the strike of the British railway 
employes is the resolute opposi- 


LONDON — [From our New 
York edition:] Anthony Eden. 
British Foreign Secretary, told 
the House of Commons today 


[Sept. 29] that Heinrich Himm- 
ler. Gestano chief, is rmlnino n 


«er, oestapo duel, is training a 
secret organization of young Na- 
zis to continue resistance in Ger- 
many for years during the Allied 
Occupation. The young Germans 
will seek to maintain the Nazi 
party until divisions among the 
Allies might give Germany the 
Opportunity of starting another 
war. Mr, Eden said. 




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Kindly Tell Us, Republi cans, 
How You Plan to Pay the Bill 


By E. J. Dionne Jr. 

TITASHINGTON — In this, fall's 
., ▼ » U.S. elections, the Republi- 
? cans could play a constructive role 

- by asking voters to make some 

- choices about what they want gov- 
. eminent to do and how much it 

- should cost Unfortunately, it looks 
’ like the Republicans won’t be run- 

sing that kind of campaign at all. 

*■ Instead, they will be talking in a 
. lot of detail about tax cuts « n d im- 
i. proving the military and rather little 
about what other spending they 
ii might junk to pay for this program. 

^ If you think this seems like a gr ainy 
“‘videotape replay of Republican 
campaign commercials from 1978 
and 1980, you’re right. 

“I’m willing to pit Reagan vs. 

Clinton,” Newt Gingrich, the Re- 
publican leader in the House, told 
reporters last week. “You choose.” 

Mr. Gingrich, who prides himself on 

- looking forward rather than back, 

. figures it is safer to try to win one 
fl more for the Gipper. 
r The shame of this is that Mr. Ging- 
i. rich’s idea of having Republican 
? t House candidates commit to a “con- 
. tract with America,” as they did at a 

news conference Tuesday, is daring 
. and might have been useful Some of 
{, the Republican ideas — on tax cred- 

- its for families with kids, stricter en- 
. forcemeat of child support payments 
h by absent fathers and welfare reform 

— are certainly worth deba ting , 
b But overall, their program seems 
-to assume a cynical electorate that 

will not ask many questions about 
r, how the goodies in the package are to 
be paid for. The Republicans would 
tl cut taxes on families with kids, roll 
■ bade, the tax on higher-income Social 
, Security recipients passed last year. 


..modify the tax penalty on married 
; people and cut the capital gains tax, 
^ They would let people on Social Se- 
• curity earn more money without sac- 
J rifidng benefits, further increasing 
<. government outlays. And they would 
/“strengthen defense." 

»' How would they, then, balance 
_ the; budget? Why, by passing a con- 
,,stitutional amendment requiring a 
’. balanced budget and giving the 
iident the lme-item veto. Nifty, 
oo the tax cuts, gimmi cks 
on the spending cuts. The Congres- 
i, siooal Budget Office figures it would 
take $750 bOlion to get the budget 
balanced in five years. If the Republ- 
icans realfy support the balanced bud- 
. get amendment, where will they get 
L the money to balance the budget? 

•» The Republicans have issued a list 
' of “possible offsets” — note the 
^.“possible" — to pay for their pro- 
, gram, some of them highly question- 
able, especially $28 billion m “over- 
head reductions.” At best, these cuts 
cover only the near-term costs of the 


Republicans’ tax promises; they do 
not even begin to close the budget 
deficit. Are the Republicans serious 
enough about even these cuts to add 
them to their “contract”? 

It is no wonder that the Clinton 
administration has had a grand lime 
briefing everyone about the Republi- 
can program. President Bill Clinton 
has his problems, but he’s made diffi- 
cult budget choices — to the point 
where he’s constrained his ability to 
finance his own new programs. 

The Republicans need to do bet- 
ter. Mr. Gingrich and buddies could 
start by pledging to produce an hon- 
est list of spending cuts that would 
balance the budget in accord with 
their constitutional amendment — 
and to put it out well before Election 
Day. Please, guys, don’t tell us that 
economic growth will solve all the 
budget problems. You tried that a 
few trillion dollars of deficits ago. 
And don’t give us vague talk about 
“entitlements” and “welfare" and 
“waste." To paraphrase a famous 
Republican; what will you cm and 
when will you cut it? 

The truth is that the Republican 
Party has three honorable ways to 
approach the electorate that would 
be entirely in keeping with the par- 
ty’s philosophical orientation. If Re- 
publicans want to be the low-tax, 
small-government party they claim 
to be, they need to be candid about 
how much they’d have to cut Social 
Security, Medicare and other big, 
popular programs to get there. This 
would permit a genuine debate 
about the size of government and 
force the country to come to terms 
with how much federal money goes 
to a rather small list of purposes. 

Alternatively, Republicans could 
tone down their rhetoric and argue 
that their real purpose is not to slash 
and bum but amply to keep things 
pretty much as they are — no huge 
cuts, no big new programs. In Ger- 
many, the Christian Democrats ran 
for years on the slogan “No Experi- 
ments.” That’s a fairly good defini- 
tion of prudent conservatism. It's 
not flashy, but it has the benefit of 
being true to what the Republicans 
actually do in office. Most Republi- 
cans don’t seem to want to cut gov- 
ernment programs for the elderly or 
for farmers or for veterans or for 
business or for middle class school 
districts or for the military. Why 
don't they just say so and stop pre- 
tending that small government is 
just around the comer? 

The third alternative, which could 
be combined with the second, is for 
Republicans to focus as much on 
how government does things as on 
what it does. They could steal some 
of Mr. Clinton's New Democrat 




' Just when you thought it was safe to go back in the voting booth . . / 


clothes by saying they recognize 
some of the same problems as Dem- 
ocrats do but have different ap- 
proaches to solving them. 

For example, the Heritage Foun- 
dation was willing to spend rather a 
lot of government money to give 
the uninsured vouchers to buy 
health insurance. That’s quite dif- 
ferent from building a big bureau- 
cracy. A lot of Republicans talk 
about school vouchers to give more 


kids a chance to go to private 
schools. But how would they do it 
and where would they raise the 
money? Or are they just saying that 
states should try this if they want to? 

More generally. Republicans 
mi gh t ponder the suggestion of Wil- 
liam Schambra, a senior program 
officer at the conservative Lynde 
and Harry Bradley Foundation, that 
many social problems would be bet- 
ter solved through families, neigh- 


borhood groups, churches and other 
institutions outside of government. 
That is an interesting idea. But how, 
exactly, could it be done? 

Unfortunately, the Republicans 
are not even close to grappling with 
such noble thoughts right now. They 
want to win by tossing around tax cuts 
and term limits and hope Mr. Clinton 
does the rest Cmon. Newt, you used 
to be a lot more interesting than that. 

77ii? Washington Posi 


LETTERS TO THE EDITOR 


Britain’s Place in Europe 

Regarding “Major Is Singing That 
Old 1959 Song" ( Opinion, SepL 21): 

Roy Denman is correct in saying 
that British attitudes toward Europe 
have changed little since 1959 and 
that there re main s a “British convic- 
tion that nothing in Europe can hap- 
pen without British permission.” 

Those of us Britons working over- 
seas know that the reverse is true 
and that we urgently need a govern- 
ment that will recognize the eco- 
nomic reality of European Union 
with a political vision to match. 

Britain has much to contribute to 
a united Europe: a world financial 
center, one of Europe's liveliest cap- 
ital cities and many world class com- 
panies. We should realize how much 
more we would get back in return, 
culturally and economically. 

CHRISTOPHER S. HONEY. 

Kuala Lumpur. 

Health-Conscious Russians 

It’s not true that “Now and For- 
ever, Russians Cherish Fat” (Sept. 
22). And the reason is simple: With 
free state medical care practically a 


thin g of the past, taking care of one’s 
own health has become a priority. 
When you start living in a market 
economy, you can no longer follow 
“Stalinist food habits.” More and 
more people now understand that 
their health has a value and choose 
to lead a healthy way of life. 

OLGA NELIOUBINA. 

Paris. 

The Law in Singapore 

Regarding the report “ Singapore 
Hangs Dutch Engineer’' (Sept. 24) by 
Philip Shenon: 

The article casts doubt on Jo- 
hanna es van Damme's conviction 
for drug trafficking, repeating the 
story that he might have been linked 
to the Dutch national intelligence 
agency CR1. 

Mr. van Damme did not raise the 
alleged CRI connection in his trial, 
his court appeal or his initial peti- 
tion to the president for clemency. 
In any case, the alleged connection 
was irrelevant to his drug trafficking 
offense. The Dutch government has 
stated that it had “ascertained that 
the proceedings against Mr. van 
Damme were conducted correctly 


and carefully." The Dutch foreign 
minis ter said that “there is no truth 
in the story that Mr. van D amm e 
was being ’run’ by the CRI as an 
informer.” 

The article also repeats Mr. van 
Damme's denial that he knew the 
suitcase he was carrying contained 
drugs. The court disbelieved him be- 
cause there was no evidence to sup- 
port his claim. 

Mr. van Damme’s brother, Pieter 
Jacobus van Damme, told the Dutch 
newspaper De Telegraaf (SepL 20), 
that Mr. van Damme had told him 
in July that he had received $5,000 
to collect “a so-called empty suit- 
case in Bangkok.” Pieter Jacobus 
van Damme said: “If you do some- 
thing like that you know the risks. 
When my brother received the suit- 
case. he signed his death sentence." 

The claim that the van Damme 
case “sent a chill through [Singa- 
pore's] large Western expatriate 
community" vs therefore baseless. 
There is no vendetta against any 
Westerner. It is simply the law tak- 
ing its impartial course. 

S. R. NATHAN. 

Ambassador of Singapore. 

Washington. 


Even Up at Flathead Lake ? 
Bewilderment Is in the Air 

By Flora Lewis 


F lathead lake, Montana 

— The problems of Haiti and 
Cuba, let alone Bosnia and Russia, 
are very far away. People are aware 
and concerned. But a lonely loon 
floating placidly on the long lake, an 
osprey soaring from its messy nest 
atop a tall pine to dive for fish, 
arouse more excitement. 

There is a deep, constant joy in 
the beauty and self-absorption of 

MEANWHILE 

nature here that overrides preoccu- 
pation with events that come and go. 

Elections are coming, but all the 
signs are for candidates for county 
attorney and councillors. Not a one is 
about the congressional or hard- 
fought U.S. Senate race in Novem- 
ber, though Vice President A1 Gore 
just came through Missoula to cam- 
paign for Montana’s Democrats. 

Worries are voiced about the state 
of the country, and the slate of the 
world, serious worries. But they are 
of another order. They are about a 
sense of declining social reliability, 
of growing cynicism and disorienta- 
tion, when thoughts shift from the 
rbythms of nature to the way people 
can be expected to behave." 

Gloria Johnson works for a county 
program to help the mentally dis- 
abled learn to live outside of institu- 
tions, a frustrating job that demands 
endless patience. She talks with dis- 
may of the troubles small-town 
schools in the area are having with 
teenagers who bring guns and knives. 

“Imagine, here in Montana.” she 
says. “I'm 31 years old. 1 think back to 
when 1 was 15 or 16. That's not so long 
agp. How could things have changed 
so much? What has happened?" 

Her husband, a clear-eyed, 
thoughtful young man who built 
their cedar-wood house overlook- 
ing the lake and does construction 
and carpentry, said: “But what do 
you do? You have to be strict with 
the kids who spread violence, but if 
you expel them from school, they 
just go on further in that direction, 
without hope of changing. They've 
already started gangs here copied 
on the ones in Los Angeles. They 
have threatening graffiti codes.” 

A psychologist wrote at length in 
the local newspaper about his fears of 
rising Christian militant movements, 
people who insist they alone know 
God’s truth and must make it the law 
of the land, to be enforced with the 
repressive power of the state. He has 
respect for religion, but if these cru- 
saders were to become a majority, he 
warns, that would be the end of 
tolerance and moderation, an ugly 
society without freedom. 

The nagging fears are of loss of an 


open quality of life to match the 
open sky anti the pleasure of health 
and vigor. It isn’t that people reject 
government Thev want laws to pre- 
serve what they cherish, in the land- 
scape, the air and the water, and in 
the way they can count on dealing 
with each other. But they hear a 
false ring in the promises, the reli- 
ance on narrow interests that collect 
vast amounts of money for lobbying 
and elections campaigns. 

“If a politician handed you a fistful 
of dollars to buy your vote, you’d be 
offended," an editorial in the Missou- 
lian says. “Instead, they pay huge 
sums for consultants and advertising. 
They try to buy your vote just the 
same, only they do it in a more subtle 
way. And" it’s still offensive.” 

the paradox of television is that it 
brings the faces and voices of power, 
of what should be responsibility, very 
close. They grimace or grin, stumble 
on a word just like ordinary people. 
The aura dissipates. Thev - don't seem 
so special, so wise, so all-knowing. 
They contra die 1 themselves. 

And yet television makes them 
surreal. They flicker through their 
performance and vanish — to re- 
lapse into who knows what secret 
looks, what secret thoughts, what 
hidden intentions when they are 
not being observed. 

They may be persuasive for the 
moment, but being so near and yet 
so distant makes them harder to 
trusL They are wrapped not in mys- 
tery but in manipulation. 

There is an extravagance in lan- 
guage that confounds judgment. Is 
everything advertising hyperbole 
and entertainment spectacle? The 
loon and the lake are real, but what 
of the rest? 

So people look around and won- 
der how children are growing up. 
what guidance they absorb and what 
convictions they acquire to steady 
them through the unavoidable trials 
ahead in everyone’s world. 

My impression of the mood just 
now — and it seems to be represen- 
tative — is not that Americans no 
longer care what happens in the rest 
of the world, but that they are no 
longer sure they know what to do 
about it And they do feel a danger 
of things going wrong that will un- 
dermine the country's ability to live 
up to what is expected of America. 

The 20th century is ending in be- 
wildermenL in the United States as 
elsewhere. In the serenity of Flat- 
head Lake, nature remains stirring 
and consoling. But even that is put 
in question by the newly insistent 
global issues of environment and 
population. Knowledge is welcome, 
but it brings no bliss. 

' Flora Lewu, 


Mini to Ih 


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MAGNfKBff WAIBHW3NT Mto* 
2100 acres + prime 125 one stand, 
TAX FI® JlSMFro +33-1 -396961 9? 


PARIS & SUBURBS 

PARIS 1ST 

VB4D0ME-C0NC08DE AfiEA 

2 recqpon apanmerts 
m new high dan bidding, 
pariana- 156 SGlM. 
IMMOTUJHtE SATIS 

Tab 1 1 1 45.03.78^8. 

(92.) NEURIT, lareanonal 

Ba G. Charcot, ground Roc*. 

350 sqjn. + 300 kjjh. garden, 

3 math room, parting*. 

(8ftl BE DE PH4TH1WRE 105 sqm. 
5ft floor, cotm and comfort cite. 
G-LN. TM: (1) 45 08 56 68 

(16ft) V*W SBW + BOB. TOOT* 
Oamc Parson apartment, 
lowly reception roam + 3 beefroams. 
(92) NHmiY 

Prodigious house with charm, 450 sqm. 

n 1 J00 sqm. treed parte 

JOHN TAYtORTsk (1)45533535 

EXCEPTIONAI 

8*. PLACE F8ANCOI5 IS 

TOP FLOOR- BALCONY 

3*9 vqjfk, fieesrore. Hdi doz. 
macf 1 xiuSo. TeL (1) 44 71 87 82 

BOULOGNE BOB . 

House, enlirely renovated, gardwB 

200 iqm, 6 loams. 2 bartxouai. fined 
boieinert. wmter go den, veranda, 
garage. F7M Owner Tet 1-fa 05 05 48 

PAHS 7ft - CHAMP DE MAAS 

Srtwm opartment comprijlrg demote 
fivmg roan, 3 bedrooms, 2 baftreoms. 
n high da* hecaone buUng, on 
ground flow, targe pnviae gwite". 
not overiooLed. Price- FBJOO.OOO. 
Tet PfiOMO IffiAL til 44.17.18JC. 

PAMS 16A - JASMIN, S*oom 
upulinarii. 120 sqm. with 50 sqm. 
retrace era 30 sqm. bateom. double 
ban room, 3 bedroom*, 2 tomtoms, 
pauq, m bridit, modern, high cko; 
burlftw. Price- F4.800.0M. Tel; 
PfiOMO REAL HI 44.17.1802. 

CHAMPS aTSS UM STYLE Metio 
George V. 3roH to ChonpL wew 
from Day windows botanies, enchant- 
ing flort m Rotonda 73 sqm 5ft floor, 

2 bedrooms. FF3 m®on. No ogenE- 
Pans 1-46478135 Sy*ey 61-2-54W77 

UNESCO 

4th Floor, 153 sqm, 5 rooms, 3 baths. 

2 irak* rooms. Tel (1] 44 71 87 32 

17ft, EFCME/'MAGRAM 

7 room, high dost, 195 sqm. 

Mads studo lo sqm. Bor™ prut 

Tel owner after 8pm 1-4622 03 65 

MHJDON - RESDBCTIAL &5 ten from 
BfW tower, beautiful turn of fte com. 
house. 9 room in period condition. 
Ponorarac roof wnoce over Ptw with 
meceationoi view, landscaped garden. 
FF59 mflon. let (1)46 0244 55 

16th 7/8 Rooms View Seta 

340 sqm. perfect corxfiwn, sti-rfio. 

A BASOM-Tik (1 ) 46 05 64 « 

Till RUE DE VERNBAL 

2/3 room apotmenrto renorait 

Tel Owner (1) 47.03.91.09. 

AVENUE MONTAIGNE - fecepacrei 
aed-a-tone, aaxute Hotel Pica. 8ft 
floor on naderi Rreploot. 24 hour 
jearritv. Garage posscie. Intmaung 
crice. Td ill 47 20 56 00 Imominosl 

10 KM5 EAST PARE - A BARGAIN. 
SMALL CHATEAU 400 iqm.. pork 
7,100 iqn. BrAtno permn far 2 
housra FLfBD.KO. ret- Owner (1) 
4706 008) (between 9am and 11m.) 


PARS 16* - AUOHk Bpfxm 
opornrem in wr> ngh drs budang. 
rosed ground floor, em- 
mrdeft fa* F6J004JOO- Ws 

(Teal d 44.i7.iaoz 


MONTMARTRE • MOWN DE IA 

GAlfTTE. calm, bode, in smaB leno- 
vreed buUng. 120 sqm. on four 


floors, entirety redone and 
F3J&.W0. 


■ Teh Owner (» 425' 


TTOCADGfiO DUPtEX, 5th floor, fac- 
ing south, t»gh decs, freestone buid- 
mg, 4/5 b«5r 4 baths, 189 sqm. 
FS5M. Teh M6 PI 47 55 68 20 


PARS 7th - CHAMP DE MARS 

VIEW ON BFFB. TOWS, 5th Boor, 
Hi, 5 rooms + 2 mad) roams. 
F9JOO.OOO. Teb I114Si»JPi7. 


PARIS BATNSNOUE5 |17ft| 2 rooms, 
greet Icme, 52 lanr F950.OOO. Tel 
Owner PI 45 51 4? 4 lewrorori. 


ISA, SUNNY HOUSE. 4 txekooms. 2 
both*, forge terrace, neat Sgrae 
Commerce. F3.85Q JQ0. Td 1-6072763 


ST GBUflAM DB 99B, end 16th cent. 
3/4-room asuple ure x ti iiere. 
floor, view, ipeanune: Tel 1 


TOWNHOUSE - PARIS 16TH 
Henri Martin. Price; FI 1 .3X3,000. 
Teh PBOMO K£AL p| 44.17.1402. 


STUNfWG 3-bedroan mM' 

vast slrySght*. stoned gloss, fans 12th 
nr Bob de Vincennes. Tek 1-4367 2626 


16tis BOB DE BOULOGNE. Vary hn- 
unous oporwient 110 sqjn. + le*- 
iobs j- porfano. Teh Q) 4&2025a5. 


SWITZERLAND 


VILLA RS - PRESTIGIOUS. NtW 
2 bedroom duplex aporouert, 107 
sqjn. + 2 balconies, garage. Owe to 
center and sK-ifis, mognffceni wew. 
Al one how from Genera. SFr. 
80000D. Contort owner Mr. Mqriafli 
TeL + 41-22 733 25 30. 


USA RESIDENTIAL 


New Jenav 15 Min. toNYC 

Com Bredlylo The GALAXY 
7000 Bvrt- E Guflenberg/loww Mofi 
Tennn In 4 Outdoor Pods. Ctob 
1-2 4 3 Bedrooms & Penthouses 
RENTALS SI MO- MOM 

SALK JW.OGM565.0OO 

CORPORATE RELOCATION 



2Q1 -861-4777 

OPEN 7 DATS FAX 201 -861-0677 


RBff WITH OBION TO BUY pfai 
aeefit far rent pad aganst [xxdicw 
price. Luury ooop ape* & rent « 
NYCi BXjgnrficenl Carlyte Hotel, 
MadatM Avenue at 76fii 5 l liwnp 
rem, atitorf-fitowi tetdren. 2 bed 
rooms. 2 matole berths. 


vesed'an hjnh ffcot. Wy maid ser- 
vice and off hcrisl foalnas arafioale. 
finonana can be cnanged. Monthly- 
rerld 515.000. Prindpab only cortott 
Erchara BfumenthoL attorney, 488 
Madison Ave., tel 212-7550190, fox.- 
212-752-0097 USA. 


TUXEDO PARK, NEW YORK 

Gated, private vitage, only 40 fflfes NT 
O’/. Offers 3 takes, wooded HL and 
Eurepean mbanoe. Let us show you 
weekend atttogej in S4Q0K lange or 
Oxsseaux in S15J5 mtton area, 
masihr bsA 1886-1940. 

TPAREAITY 

Tek 914-351-4800 Fot 914-351-5752 


SARASOTA/ Ungboa! Key, Ffanda. 3 
bedroom, 2 baft home on deep sal 
boat water wth dock, pat nunutes 
from the Guff of Mexico and Satreota 
Bay. 2 /OO *q-fr- completely fumshed, 
beach s luto oacss the street. New 
heated POOL Great rental haory. 
5560,000. LoB USA 813288-3068 or 
Fpt B13388-1390 far further mfa 
SOUTH FLORIDA, EAST COAST. 
Unique linuni ocean-view condo 
epanmew. 3600 sq. h. whh 1W5 sa 
ft. terrace. 3 ensoee bedraooH. Forma 
dining room, fiving room, ea^i 
khchen. wine caw. pool, maiy frtreo. 
Boat Eaton. Benda. S595.000. Owner. 
Fcx. MP) 392 3336 or wnteto P.O, 
Bax 1B61. Boca Eaton, R. 33429 U5A. 


NUOTOWN MANHATTAN COPOO 
Fgl service luxury doormen builtang, 
150 sqm. 2 bedro oms, ided P*d» 
tene or corporate apartment. Near 
thestres/Qmnal Fai/Uncdn Caw. 

fAj’Siskp W°2?? 

215-1435 USA 


MANHATTAN^. 61st ST. Steal, c«y 
stu£(j separate bkhen (newly ier»- 
vaodt, high cefexp. hordwe-od floor*. 
Sl 10.000. Montcnance S50070/ mo. 
Tto/raX: “J14a967l49 USA 


WASMNGIDN, D C Georgetown's 
Gem. 150 yis old Tordty renovated 
European luxury, marble, chandefea 
Pnvoc/ wall, mast private area No 
aoenf*. 202-3334B95 F» 7CO-tl3-563o 


MANHATTAN SIUOO STEAL bxury 
peddler re m Wea 55ft Sr. Gwp. 
WoA to all S80K. Mantencmae 155/t 
north Fa.: 2I25B2-946I USA 

REAL ESTATE 

TO RENT/SHARE 

ITALY 

ROME TRASTEVBC, famUmd flat. 
w*h large terrace, l^M ha/mo. Pons 
331-420 4895 7 lame 39^3751 3984 

GREAT BRITAIN 

HQMDA/VBIO BEACH. Woterfrcrt 
property for 26 homes exxt 100 con- 
duiMwnumi at kxfian Brver. Prnale 
mar ma Td: +46^7489544. 

MONACO 

HYDE PAUL Luxury Rat, 1 bed. 
targe reception overlooks pork, cfamg 
gaSery 6 study. Pariana & partaogr. 
OS per week. TeL- 44 71 5® <03 

PORT OF MONACO Unqve new 
herbwv & sea. 4W rooms. 2 bafts. 2 
terraces. Short lease. Tel 33*330 5089 


Pag© 23 
FOR MORE 
REAL ESTATE 


FRANCE 



Maisons-Laffitte 


WEST OF PARIS 

FACING RER - HIGH CLASS BUILDING 
| H_350 sq.m, office space on 4 levels. 

Underground parking (Low charges) 
j ©Still available: 4 apartments from 
studio to 6 roams. 1 5 mins. Inil 
Lvccc Sainl Germain cr\ Laye 
Contact Mr. Blanchard, SOGECIF 
TeL: (I) 39 12 30 00 fpnrenbiy un.) - Fax: (1) 39 62 63 60 


Auction Sale ai the Palais de Justice of Paris 
Thursday. October 6. 1994, at 2:30 p.m. in one lot 

— APARTMENT, PARIS 6th — 

1, 3. roe Bonaparte - 7, Qua! Malaquais 

6 main rooms on the 3rd floor - bedroom on the 4ih floor - 2 cellars - garage. 

Starting price: FF 7,500,000. 

Contact: Maine Georges KIEJMAN. Lawyer. 260. bd Sl Germain, Paris 7. 
Tel.: ( 1 > 45.55.09.iXJ or the clerk at [he TGI of Paris 
where the terms and conditions are registered. 

Ort-siie visits with Maine BARGAIN. Huiwsier de Justice in Paris. Friday. 
Sep l ember 30 from 2-5 p.m. 

Minilcl 3616 AVOCAT VENTE or 3616 code ECO. 


ILSJL 


FOR SALE 

U.S.A. - HOUSTON I DALLAS / FT. WORTH 
20-vbof oM oompony. owner not m good heoKi ond po^ rflfiement ogs seeks lo sdl comptny. 

WEIL ESTABLISHED - EXCELLENT CREDIT - EXCELLENT REPUTATION 
AppnxbnoWv 1000 rngh quality income producing apartments, plus 5 mil Ion square feel 
ol PRIME Development Lana au wflti nign density, 100% leased uSIBes in piece. 
PLUS: a Property Management Company 
wu son Afltx cosh or Ssted stock (US S75 000.000} 

BROKE RS/AGENTS Protected wfli a 10% commssion. 

SERIOUS CONFIDENTIAL INCURIES ONLY: FAX (713) 468- f 506 


5WTTZBULAND 


SWITZERLAND 
FOR SALE 

In the surroundings of Geneva, 
left take snore 

OUTSTANDING 
WINE PROPERTY 

Classified vintage 
Appellation dOrigine 
II ha. of vineyards, suitable for 
[rtcrhantcal harvesting: equipped 
with drip Irrigation. Winery buildings 
complete vrtth press, cellar, bulling 
ball storage families as well as 
harvesting machine. Iraclor. de. 

| Please submit ofEera under no. 815SS3 
to PabHefau. 1211 Genera 3. 


Barbados - St. James 
(West Coast Beach) 

One storey vita for sals wffh two 
double bedroom suites ond logo 
entertaining looms. fonr4ng port 
of the exclusive 'Setttere Beach 

complex' Exquisitely decorated. 
Offers invited to the region of 
US$350,000 pfc*. 
Contact Mrs. Neville. 

for complete detoas. 
ond photographs. 

T*L- 4- 44 932 867251 
Fax: + 44 942 869796 



Unique, 15 min. Eurotunnel, 
Equal distance to 
PAWS - LONDON - BRUSSELS 
16 th Century Historic 

CHATEAU 

Tel. & Fax (33-1) 64 66 07 61 


ITALY 


Auction sale at the Palais de Justice ol NANTERRE 
THURSDAY, OCTOBER 13, 1994 at 2p.m. 

TOWN HOUSE 

3 floors, situated in 
BOULOGNE - BILLANCOURT (92) 

5, rue Gambetta 

STARTING PRICE: 7,150.000 FF 
Contact : Maitre Beplt DESCLOZEAUX. 
lawyer in the Hauts-de-Seine 
58, boulevard du Couch ant. 92000 NANTERRE. 
Tel.: (1) 47 24 16 58 from 8-10 a.m. 


y Exclusive Villa near Lake Como ^ 

ITALY 

5 km from BcHagto. 15 km lo Lake Lugano (Sndtocrland). 

Unique, modem Lombard 9tylc I souse, natural slate roof. 

Sunny and quiet site with unobstructed view on lake and alpine scene. 

within easy reach of Cadcnabbla/Mcnagglo golf course. 

5.000 sq.m. (c. 2.25 acres), 460 sq.m. Inside walls plus roof terrace with 
luxury barbecue and open fireplace. 3 bedrooms. 4 la 17 s rooms, large 
haH -dining room, fireplace, large modem kitchen, marble IJuare. i ‘ 
for 3 cars, cellar bar (lavema), central healf 


For more in/i 

TeL or] 


contact 

1-96 46 08. 


U3JL 


Real Esstate Agents^ 

US Crenpany onururee Inrmtnc Tours ™ 
for hntsvm in Arbom: 

New Homes in Golf S Tennis 
"GatohConirmirirt'es - Rcoa». 
set up for Remit, nr Gnat timn 
Homes in PhocniI ;».TCL^d^k , . 

3 boars from Grand Casyonl 
Amadng tow Prices ta Fum-fcrxbrds. 
TourSrr.fco-Fjt «12oW0-Q«7 
92W F. ttilnwo, »1ttrt, Screwjjlc, 

Altana 85260 US a 


OrBEAT BUTAIM 

A CENTRAL LONDON'S 
INVESTMENT 

Next to Buckingham Palace, -in very 
pretty private squat®, eftstingreshed 
5 bedroomed Georgian bouse, 
including setfeontained flaL 
In need of redeco ration; 
interesting history. Private sale. 

S2 mimon/f] J5rTon»n. 

^TaL: UK (44) 71 828 0796. „ 


SPAIN 


REAL ESTATE GUZMAN 


MARBEUA LUXURY VUA 

In good residential area with spectacular sea 
view, modem desigi. uAimaie quality 2,420 
sq.m./630 sq.rn.rw4 <1 suites, seporafe 
aporiment, t receptions, air oondWaning and 
underfloor heeling. 

25 wars experience. 

Weorter spariiMnu, vSks*. 
and inv e stm ent opportunities. 

CoS. KSSHNA SZEKELY. | 

TeL: 34-52-814)14)2 hax- 34-52-81 J7J8I 


Rod Estate Mcricetpkire 

Every Frictay 
Contact Fred Ronon 
Td: (331)46 37 9391 
Fax: (33 \J 46 37 93 70 
or your nearesr (HT «jffice 
or representative 






International Herald Tribune 
Friday , September 30, 1994 
Pi Page 10 









■n- 

m 


Madrid in the Fall: Visual Arts and the Fine Art of Living 



Monasterio dates 

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Madrid 


H .-PMBrte^TcMO 



By Penelope Casas 


M ADRID — When a celebrat- 
ed 19th-century Madrid ban- 
dit and bon vivant, Luis Can- 
delas. was apprehended and 
sentenced to public hanging, it is said that 
his last words were. “Be happy, my be- 
loved city." Madrilehos have taken his 
words to heart; with the arrival of fall . the 
rhythm of life in Spain's capital acceler- 
ates to a frenzied pace as residents re- 
turned en masse from August vacations. 

The fiery s umm er heat rs gone and the 
weather is generally splendid. Restaurants 
and shops have reopened, and the narrow 
streets of Old Madrid and the elegant 
boulevards are once more bustling. The 
museums have special exhibits, and cul- 
tural and jazz festivals are under way. 
Young people frequent nightclubs till 
dawn, while their elders do not dine until 
10 or 1 1 P. M. — all in a seemingly instinc- 
tive effort to stretch enjoyment of each 
day to its limits. 

Spirits are especially high these days. 
Madrid's stately buildings and monumen- 
tal plazas have been refurbished and re- 
lighted, and the city positively glows. It 


has become a shopper's mecca (deluxe 
malls have sprouted all over), a place of 
fine eating and a cultural whirlwind, cen- 
tering on the Golden Triangle formed by 
the city's three major museums. 

The Prado, founded in the last century to 
house the extensive royal art collection, has 
always been a highlight for visitors, but the 
dty has received a major cultural boost 
with the acquisition of one of the world's 
largest private art collections, given to 
Spain by Baron Hans Heinrich Thyssen- 
Boraermsza. The Reina Sofia Art Center, 
winch became a contemporary an museum 
in 1992, rounds out the artistic offerings 
with a fine collection of 20th-century art, 
including Picasso’s “Guernica.” 

Another art attraction is the 18th-cen- 
tury neodassic San Antonio de la Florida 
chapel with its Goya frescoes. 

The Prado Museum is celebrating its 
175th birthday. Besides its dazzling per- 
manent collection, it wfl] feature from 
Nov. 19 to Jan. 29 the works of Federico 
de Madrazo, a noted 19th-century Span- 
ish artist, on the occasion of the 1 00th 
anniversary of his death. 

The Reina Sofia Art Center is present- 
ing through Nov. 21 an exhibit of 70 


works of the American abstract expres- 
sionist Franz Kline, covering 1946 to 
1962. If you missed the Salvador DaU 
exhibit in the United States, “Dali. The 
Years of His Youth" will be at the Reina 
Sofia Oct. 18 to Jan. 16 and includes 
works rarely seen before his death. 

The Thyssen-BorDemisza Museum will 
present “the Golden Age of Dutch Land- 
scape Painting’' Oct 10 to Feb. 12, includ- 
ing works by the 17th-century artists Rem- 
brandt, Salomon and Jacob van Ruisdad, 
Maindert Hobbema and Van Goyen. 

The 1 ltb annual Aut umn Festival takes 
place through Nov. 20. This year it in- 
cludes contemporary dance, theater and 
film from the Netherlands and the Na- 
tional Symphony Orchestra from Cuba 
and ancient and Baroque music as well as 
contemporary composers. Call (1) 559 00 
89. Most tickets are S16 to $20. 

The jazz festival, Oct. 27 to Dec. 3, will 
feature performances at the Circulo de 
Bellas Artes, 2 Marques de Casa Riera, 
and Teatro Monumental, 65 Atocha. Call 
(1) 523 43 46. Tickets: $16 to $24. 

After being dosed for about a year for 
repairs, the Royal Factory of Tapestry, 
founded in 1721 by Philip V, has re- 


THE M 9 I / E 6 E I E E 


The Shawshank 
Redenwthm 

Directed bv Frank Darabont 
U.S. 

Although adapted from a 
Stephen King novella, "The 
Shawshank Redemption” 
has more to do with a man’s 
internal demons than the 
kind that routinely rise up 
from overgrown graveyards. 
It’s not a typical story from 
the honor King. Instead, it's 
an old-fashioned, spiritually 
uplifting prison drama 
about two lifers who must 
break their emotional shack- 
les before they can become 
free men. The director 
Frank Darabont is chiefly 
interested in the 20-year 
friendship that sustains 
Andy (Tim Robbins) and 
Red (Morgan Freeman). 
The movie opens in 1947 as 
Andy, a prominent New 
England banker, is on trial 
for murdering his wife and 
her lover. He insists be is 
innocent, but the jury finds 
him guilty. Sentenced to life, 
twice over, Andy is shipped 
to the maximum-security 
stale prison at Shawshank, 
Maine. An introverted loner 
with an interest in reading, 
Andy doesn't moke himself 
many friends until Red. a 
30-year-veteran of the sys- 
tem. decides to take him un- 
der his wing. Things begin to 
change for the better when 
Andy finds a way to use his 
skills and education to bene- 
fit his fellow felons. It is 
hope that allows him to sur- 
vive what may or may not be 
an unjust imprisonment. 
And hope is his gift to his 
friend Red. who no longer 


even tries to impress the pa- 
role board at his hearings. 
He’s become “institutional- 
ized,” he explains to Andy, 
and would be a “nobody” on 
the outride. Red’s gift to 
Andy is absolution when he 
finally confesses his true 
sins. Whether or not he 
pulled the trigger, Andy 
blames himself for causing 
his wife’s death; his redemp- 
tion comes as he leams to 
give of himself over the 
course of this marvelously 
acted and directed film. 

(Rita Kempley, WP) 

Los Pooras Afloa de 
Nuestra VkSa 

Directed by Emilio Martinez 
Lazaro. Spain. 

This film confirms Gabino 
Diego as Spain's leading 
young comedy actor. Not 
yet 30, he previously has 
played the fool wtien it 
comes to women. But here 
the script allows him to take 
full command, pouring tre- 
mendous versatility into the 
hapless character of Alberto, 
who is kind of a Spanish 
version of Woody Allen. Al- 
berto serenades the women, 
pretends to be an English- 
man teaching in Madrid and 
cracks great jokes. But to no 
avail; he still gets dumped. 
One girlfriend sweetly de- 
parts by saying she'll always 
think of him as “very spe- 
cial,’' to which he replies 
that he'd rather just be con- 
sidered “normal'’ so they 
could keep on dating. The 
story depicts the worst years 
of Alberto's life because his 
handsome brother (Jorge 
Sanz) always gets the girls 


they both are chasing The 
two actors were paired in 
similar roles in the 1 994 for- 
eign Oscar winner “Belle 
Epoque.” David Trueba. the 
brother of the “Belle Epo- 
que” director Fernando 
Trueba, wrote the script for 
“Peores Aftos.” Bui he gives 
almost all of the best lines to 
Diego, leaving the support- 
ing cast a bit fiat and not 
quite a match for Diego’s 
comedic flair. 

(At Goodman, IHT) 

SoMI Trompour 

Directed by Nikita Mikhal- 
kov. France. Russia. 

Colonel Kotov is a hero of 
the revolution, a handsome 
mustachioed man who lives 
a life of apparent harmony. 
Played by Nikita Mikhalkov 
himself, the colonel is mas- 
ter of the family datcha and 
beyond, for he has been dec- 
orated by Stalin. Everything 
appears Chekhovian — the 
datcha, the summer day, the 
cups of tea, but it is Mikhal- 
kov who makes the tea-cups 
tremble, who introduces 
modern ironies to the scene. 
For the shady Dmitri (Oleg 
Menchikov) has intruded on 
this domestic order, seeking 
revenge for a decade in mile, 
making a play for Kotov’s 
beautiful wife Maroussia 
(Ingeborga Dapkounaite) 
ana bewitching daughter 
Nadia (Nadia Mikhalko v) 
Mikhalkov, who has also 
spent years away from 
home, has returned to his 
obsession with the theater of 
nostalgia and treason, add- 
ing touches of F ellini to his 
Russian repertory. The de- 
tails of the summer day are 


pleasurable — the table talk 
between madcap grand- 
mothers, the music, a lake- 
side picnic interrupted by 
Stalinist scouts — but Dmi- 
tri's visit reveals the disturb- 
ing underside: the old order 
is dead and the revolution 
has been betrayed. The di- 
rector’s art buoys up his 
anti-Stalinist fable, but there 
are many broad hints, and 
symbols,' a bit too much of 
everything in fact — tea and 
sentiment, nostalgia and be- 
trayal — in this deverly 
plotted and brilliantly over- 
acted movie. 

(Joan Dupont, IHT) 

Terminal Velocity 

Directed by Deran Sarafian. 
U.S. 

The ads for the new Charlie 
Sheen movie, “Terminal Ve- 
locity,” only get it half right: 
It's not the fall that kills you, 
it’s the jokes. “Te rminal Ve- 
locity” is the sort of lame- 
brained, gratingly obnox- 
ious live-action Road 
Runner cartoon that makes 
falling out of an airplane 
look like a welcome relief. 
Sheen plays a cocky sky-div- 
ing instructor who is hired 
for a lesson by a mysterious 
foreign beauty (Nastasria 
Kinski). Almost immediate- 
ly things go wrong, and 
Sheen finds himself in the 
middle of a plot to heist a 
plane-load of Russian gold. 
The picture moves bnskly, 
but its combination of dare- 
devil stunts, breathless es- 
capes and witty tag lines is 
so repetitious that it seems 
to last forever. 

(Hal Hinson, WP) 


The IHT Pocket Diaiy Fits In The Palm Of Your Hand. 


Year after year — even at a period 
when diaries abound — the International 
Herald Trilnaieflat. silk-grain leather 
diary is the hit of the season. 

Ingeniously designed to be thbuier- 
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including a built-in note pad with always- 
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conversion tables of weights, measures and 
distances, a list of national holidays by country, 
a wine lintage chan, and many other useftdl 
facts. All in this incredibly flat little book that 
slips easily into a pocket. 

The perfect gift for almost anyone . . . 
including yourself. 

Please allow three weeks for delivery. 


HcralOKribunc 



> Measures Sx 13 cm <51/4x3 in.). 

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1 1995 notable dates and nanonal holidays in over 80 countries; 

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.1995 IHT Pocket Diaries. 


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opened. Visitors can watch intricate tapes- 
tries being woven and rugs being hand- 
loomed, all made to order for private 
diems. 

R OOMS can sometimes be sub- 
stantially less expensive when 
reserved through a travel agent 
Many hotels offer weekend dis- 
counts (Friday through Sunday) up to 50 
percent. All prices are for double occu- 
pancy. 

Budget: The 67-room Carlos V, 5 Mae- 
stro Vitoria; (1) 531 41 00, fax (1) 531 37 
61, is a small family-operated hotel next to 
the pedestrian Preciados Street, where 
Madrid’s two major department stores are 
situated. It has nicely decorated rooms, a 
comfortable, tasteful salon and cozy 
breakfast nook. About $80. 

Luxury: The Palace and Ritz, which 
face one another across the Neptune Pla- 
za, are still the grand dames of Madrid 
hotels, dating from the turn of the century. 
The Ritz has 158 rooms and is the more 
formal and sedate of the two, requiring 
jackets and ties even when visiting the bar. 
The Ritz, 5 Plaza de la Lealtad; ( 1 ) 521 28 
57, fax (1) 532 87 76. generally has rooms 


available for about $3 75, weekends about 
$275. 

The Palace has 480 rooms, a more casu- 
al ambience, and is popular among local 
residents, who frequent its bar and choose 
the hotel for elegant weddings. Its lobby is 
a never-ending spectacle of well-heeled 
Spaniards. Posted prices are about $300 
but lower rates can be negotiated. The 
Palace, 7 Plaza de las Cortes; (l) 429 75 
51, fax (1) 429 86 55, can be reserved 
through a travel agent for about $250, 
weekends about $170. 

Across from the Royal Palace on the 
Plaza de Oriente is the Caffe de Oriente, 2 
Plaza de Oriente; (1) 547 15 64. There are 
outdoor tables for drinks and snacks, and 
downstairs in a long brick barrel-vaulted 
room, once part of the long-gone San Gil 
convent, is the elegant Restaurant Caffe de 
Oriente. Managed by Luis Lezama, a 
priest who built a restaurant empire to 
provide jobs for underprivileged youth, 
the restaurant is exquisitely decorated in 
Spanish Victorian style. The menu has a 
Basque accent and includes small, thin 
piqinllo red peppers stuffed with shrimp, 
wild mushrooms and spinach, and loin of 
hake with clams in green sauce. Dinner is 


Phougnphs by Omita/Cow tor The Neo Yorii Tunes; NYT m«P, , 

about $100. (Restaurant prices are for a > 
three-course meal for two with house, 
wine.) . 

La Gran Tasca, 24 Santa Engraaa; (1) ; 
448 77 79, is open until 4 A. M. to accom- 
modate the film and theater crowd. Best;, 
known for its cotido, an elaborate chick-; 


pea stew that makes a complete and abun- 
dant meal for two, La Gran Tasca, a: 
Castilian-style restaurant, also serves ex- ; 
cdlent fried fish like baby squid and white ; 
anchovies as a first-course, and vasty polio 
al ajillo (garlic chicken). Dinner: $45. 

For inexpensive meals in general, tapas-- 
are the best bet. The appetizer foods are- ■ 
found in dozens of varieties at hundreds of 
tap as bars, where you can pick and- 
choose. Bocaito (6 Libertad), an Andalu- 
sian -style tapas bar, has an unusually' 
large and attractive variety including'.’ 
crisply fried fish, salads and canapes; two' 
people sharing several portions can easily 
be satisfied for about $25 if they don’t- 
over-order or choose the higher-priced 
fish. • — 

Penelope Casas, the author of “Discover- 
ing Spam : An Uncommon Guide," wrote . 
this for The New York Times. 


Nashville Cats in Mouseland 


By Mike Zwerin 

International Herald Tribune 


M 


ARNE-LA-VALLEE. 
France — EuroDisney Artis- 
tic Director Jean-Luc Cho- 
plin quotes the German poet 
to explain his motivation for invading 
Mouseland with three cats: “Goethe said 
that God has need of the devil. I wanted to 
have some sort of contrast to catch peo- 
ples' attention. So Mickey now has three 
cats to play with.” 

The six-meter-high country music trio 
logo, “The Nashville Cats,” designed by 
Norris Hall, will overlook Frontierland 
from the top of Thunder Mountain until 
Oct. 3 1 , when the current “Far West Festi- 
val” concludes. Choplin calls it “Land 
Art.” He wanted to give a “real living 
Nashville artist a chance to create some- 
thing.” 

The festival includes the work of another 
real live Nashville artist, Ed Clarke, 90. An 
exhibition is dedicated to his photographs 
of postwar Paris and his home town. Six- 
teen Tennessee craftspeople were brought 
over to weave and carve their wares and sell 
them. A gaggle of country musicians is 
performing throughout 

For Choplin. Disneyland, Paris, is a 
“360-degree outdoor stage.” He asked 
Robert Carson, a young director who 
staged “Mancra” at the Bastille Opfera. to 
stage the Wild West show. George Fenton 
(the score for the film “Gandhi") was 
asked to compose the music. The Roma- 
nian stage designer Petrika Ionesco con- 
ceived the floats for the themepark’s daily 
parade. Sculptor Rachid Khunoune has 
designed a Mount Rushmore-like lion to 
represent the release oF the film “The Lion 
King” in November. 

Choplin cites Robert Louis Stevenson 
writing about Monterey, California, “The 
one common note of the country was the 
haunting presence of the sea” to illustrate 
how be would like the customers to leave 
the park: “When they dose their eyes 
leaving this piece of America in Europe I 
hope they have the haunting sound of 
country music in their ears.” 

One wonders how retaining artistry is 
possible writing music for corporate meat- 
grinders like blockbuster movies and the 
Walt Disney Co. There’s probably a lot of 


self-censorship involved. And don’t forget 
“country music,” the immortal words of 
Buddy Rich when asked by a doctor if he 
had any allergies. But there's no tongue in 
cheek here. On the contrary, you get the 
impression that all of this is of great im- 
portance and the source of much pleasure 
for Choplin. It’s not hype. Rumor has it 
that some Disney executives did not get 
the three-cat joke. Choplin is something of 
an alien in Fairyland. 

He has been director general of the 
Orchestre de Lorraine, and of the Roland 
Petit ballet company in Marseille He cre- 
ated “Ffetes Musical es de la Sainte-Bau- 
me,” an important summer dance festival 
in a medieval monastery in the south of 
France (1975-80), and was administrator 
of the Paris Opfera Bailer for five years. He 
considers all of this invaluable experience 
for his current duties. His collaboration 
with Petrika Ionesco on the Rudolf Nure- 
yev production of Tchaikovsky’s “Cinder- 
ella” illustrates “the straight line from my 
past to Disney.” 

“Fascinated” by the Wild West, be ad- 
mired Frederic Remington's sculpture 
and has read biographies of Sitting Bull 
and Rosa Bonheur, who painted Buffalo 
Bill. Choplin cites William Cody’s six- 
month stand (“the only time a legend 
presented itself on stage as a legend”) at 
Porte des Teraes in Pans which played to 
millions of people: “If the guardians of 
the Camargue are wearing cowboy hats, 
boots and big silver bell buckles that's 
Buffalo Bill's influence.” 

He believes that one should not put 


U Thomas the Tank Engine is 
keeping up with the times. The 
British children’s television series 
will feature more forceful women 
diameters, Reuter tells us. Until 
now there had been only Daisy the 
green engine and Clarabel and 
Annie the carriages. Now there will 
be a Mavis engine and a Caroline 
car. Also, someone serving 
refreshments called Nancy. Now 
that’s a really revolutionary idea. 


culture into categories and that it should 
be freely exchanged. 

Living in New York in the early 1970s, 
he became friendly with the Judson 7 
Church Theatre Company, particularly.'! 
Trisha Brown who “for me is a certain-' 
vision of the Wild West She dances the 
wilderness.” Returning home, he created : 
his dance festival to which he invited poo-’ 
pie like the choreographer Merce Cun- 
ningham and the composer John Cage. A- 
Japanese trombone player swore to hit 
some impossibly high note (Choplin for- 
gets which) while performing a Cage work 
or commit suicide. It was a sort of bet a r 
point of honor. He was serious. The other- 
musicians were anxious. Choplin asked 
Cage if they shouldn’t cancel the show. * 
“There isn’t that much difference between " 
art and death,” Cage replied, enigmatical- 
ly (quoting, I believe, the despot Tamer- 
lane). The show went on and the trombon- - 
ist missed his note although he's still alive ■ 
as far as Choplin knows. 

S OMETIMES in what he calls “the 
middle of the herd” in the theme 
park, listening to the sounds and 
music coming from all directions, 
on his 360-degree stage, Choplin remem- 
bers Cage's dream of creating a sound* 
sculpture by assembling several marching . 
bands and miscellaneous smaller groups 
each playing its own repertory (he proba- ' 
bly got the idea from Charles Ives). “I’ve 
played with that concern here,” he says. 
“Nobody knew but me. That was one link ~ 
with what I did before.” 

Before, Choplin had defined himself 
according to Cage’s conception of the job,- 
which he translates: “I am the utility for! 
you guys. I'm going to serve you. You're 
going to be bigger and better because of, 
my utility. I keep my ego out of it” People 
began to suggest that he take a more direct 
creative role staging productions of his. . 
own. “You have the eyes, the ears and the 
experience;” they said 
When offered this job, he thought “Dis- .. 
ney is a blank page. The story has yet to be.”; 
written.” He was also becoming tired of 
working in the eKte, sophisticated wodds of ,< 
dance, experimental theater and avant-mu- ' 
sic. So he said: “ ‘Well, why not oy to give • 
artists a chance to create beauty for II 
million people instead of 200,000.’ I decid- ■ 
ed my ego should be a tittle bit bigger.” - 


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IV in 


S & A A 


International Herald Tribune 
Friday, September 30, 1994 
Page 11 


& 


The Great Business-Class Game I 71 1 JTTTTT JJTl 777171 77771 



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By Roger Collis 

t Itatnutional Herald Tribu ne 

B RITISH AIRWAYS’ long-await- 
ed, much-hyped £70 million 
(SI05 million) "relaunch'* of its 
Club Europe business class a 
.'ouple of weeks ago turned out to be little 
more than smoke and mirrors. BA’s mes- 
sage to business travelers is: We’ll give 
you a (2-inch) wider seat (but regrettably 
the same leg room as sardine class); a new 
network of airport lounges around Eu- 
rope; access to die Fast Track lane 
through immigration and security at 
Heathrow; a special Cuvfe Brut Cham- 
pagne from Piper Heidsieck and “more of 
a European accent” (the cabin crew 
speaks “up to 15 phrases in seven lan- 
guages” if you will pay a premium of 10 to 
15 percent on the full economy fare. 

Thanks to growing competition on most 
of the main European routes, b usines s 
travelers have a choice between frills and 
fares. Airlines such as Lufthansa, Swissair 
and KLM, and now BA, provide wide 
seats for wide-bodied executives in busi- 
ness class; Air France and SAS allow 
passengers paying the full economy fare to 
travel in the front cabin on the usual 
narrow seats; British Midland offers a 
range of business-class fares; Air UK of- 
fers lower business fares in a single-class 
cabin; Transwede has a similar concept 
between London and Sweden; and Dub- 
lin-based Ryanair leads the crusade for 
low fares with no frills between Ireland 
and Britain. 

For airlines, the issue is how to recap- 
ture those high-yield business passengers 
(20 percent of traffic but 60 percent of 
revenue) who have been downgrading 1 to 
the back of the plane. For business travel- 
ers, the issue is how to solve the shifting 
equation of comfort, convenience and 
price by buying only as much flexibility as 
they need 

“The timing of our Gub Europe launch 
was partly judgment, partly luck, as we’re 


bottoming out of the recession,” says Pe- 
ter White, general manager, Europe, for 
British Airways in London. ’‘Business 
travelers were basically saying to us, 
you’re ripping us off. If you’re going to 
charge this sort of premium, we want 
something for iL Flexibility is important 
because we double book, but you can't get 
away with charging us four to one on fares 
in the back of the plane unless you signifi- 
cantly enhance our travel experience. 

“So we decided well continue with the 
premium. We’ll address the hassle on the 
ground by having telephone check-ins, va- 

fkt frefBHt Trait hr 

let parking. Fast Track, and building 
lounges all over Europe. And we'U give 
you a bigger seat; so crudely, there are 
now rows of rive instead of six abreast, so 
we’ve solved the elbow-room drama — 
your armrest or mine? — and now there’s 
more room in the overhead lockers. 

“People have been trading down from 
business class to full economy, partly be- 
cause of this new ethos in business travel 
against conspicuous consumption. There 
was a profound backlash. We're now sens- 
ing a shift but I think inside my soul it will 
never return to the really hi gh yields we 
had in short-haul travel. Because of com- 
petition.” 

Competition is fiercest on those routes 
served by British Midland (Heathrow to 
Paris, Amsterdam, Brussels, Dublin, 
Frankfurt and Nice), and Air UK (Stanst- 
ed to Amsterdam, Brussels, Paris, Copen- 
hagen, DOsseldorf, Frankfurt, Nice and 
Innsbruck). British Midland offers a range 
of fares in the front cabin, EuroOass, 
which is pitched at the normal economy 
faze charged by other airlines; a three-day 
return, at around 30 percent less than 
business class on most other carriers; and 
Eurobudget, normally a back-of-the- 
plane fare that carries some restrictions 
but allows an open return. 

BM has extended its three-day return to 


destinations in Italy, Austria and Spain 
through code-sharing deals with Alitalia. 
Iberia and Austrian Airlines. Buy a Dia- 
mond EuroPass for rive round-trips and 
save up to 65 percent on normal fares. 
EuroPass holders get access to business- 
class lounges at Heathrow, Amsterdam. 
Brussels, Dublin, Frankfurt and Paris, 
without having to make the usual four 
qualifying flights. 

Air France plans to relaunch its busi- 
ness class next spring. Meanwhile, the full 
economy fare allows you to sit in the front 
cabin, but there are ho lounges for short- 
haul passengers, In the back cabin, you 
can save up to 20 percent off the full 
economy fare with a “Eurochallenge" 
ticket which is fully flexible, but only on a 
round-trip with Air France. 

SAS has no premium for business class; 
and you have the run of lounges in Stock- 
holm, GO te burg, Copenhagen, Paris, Lon- 
don, Geneva, Vienna, Dusseldorf, Dublin. 
Budapest and Sl Petersburg. SAS sells a 
discounted business-class" fare, Euro- 
Tickei, which saves up to 30 percent on 
fare between Scandinavia and most places 
in Europe. 

The best fare deals in Europe are with 
Ryanair, a fast-growing carrier that mod- 
els its strategy on the highly successful 
Southwest Airlines in the United States: 
low cost, no frills, high frequency point- 
to-point services on high density routes. 
Ryanair flies 130-seal 737s (six abreast 
with a reasonable 33-inch seat pitch) be- 
tween Dublin and Prestwick International 
(Glasgow's independent airport), and Bir- 
mingham, Manchester, and London 
(Stans ted, Gatwick and Luton). 

“We operate an all-economy service, no 
snacks, no meals, no coffee or tea, no free 
drinks, although we have a full bar service 
at duty-free prices.” says Valerie O'Leary, 
a spokeswoman for Ryanair in Dublin. 
“But our lowest return fare to London is 
£59 with one-day advance purchase and 
no minimum stay. Our cheapest same-day 
or next-day return is £79. And our cheap- 
est fully flexible round-trip fare is £99.” 


THE AHTS f T / 9 / 


BELGIUM 

Bruges 

Groeaingemuseum, tel: (50) 34- 
79-59, open daily. Continuing/To 
Nov. '5: “Hans Memllng: Five Centu- 
ries >1 Reality and Fiction.” 40 
wortaby Memiing and paintings, 
drawngs and sculptures by his con- 
temporaries in Bruges. 

BRITAIN 

London 

Hayvard Gallery, tel: (71) 928- 
31 4< open daily. To Jan. 8: "The 
Romm lie Spirit in German Art 1790- 
199C" Explores the. romantic tradi- 
tion H German art and its relationship 
with Modernism. Includes 300 paint- 
ings' watered ors, prints end sculp- 
ture: by Johann Heinrich Fuseli, Ca- 
spar David Friedrich, Emil Nolde, 
KanJinsky, Klee, Beuys and Baselitz. 
The exhibition will travel to Munich. 
Royal Academy of Arts, tel: (71) 
4945615, open daily. Conti nu- 
ing.To Dec. 14: "The Glory of Ven- 
ice.Art in the 18th Century." Fea- 
luns cityscapes by Canaletto. 
Gurch and Bellotto, genre paintings 
by Tepoto, scenes ofVenrtian life by 
Pien Ldnghi and prison scenes by 
Pirnesi. 


CANADA 

Toronto 

Art Gallery of Ontario, tel: (416) 
977-0414, closed Tuesdays. Contin- 
uing /To Dec. 31 : “From Cezanne to 
Matisse: Great French Paintings from 
the Barnes Foundation." 

FRANCE 

Lyon 

Musee des Beaux-Arts, tel: 78-28- 
07-66, closed Mondays and Tues- 
days. To Dec. 18: “Maurice Denis. 
1870-1943." 200 paintings, draw- 
ings and art objects, ranging from 
small Nabi paintings of the 1890s to 
large complex figure groups in pale 
colors by the French painter and il- 
lustrator. The exhfcltion will travel to 
Cologne, Liverpool and Amsterdam. 

Paris 

Grand Palais, tel: 44-13-171-17, 
closed Tuesdays. Continuing/To 
Jan. 9: "Gustave Caillebotte, 1848- 
1894.” A retrospective of 89 paint- 
ings and 28 drawings by the lesser- 
known French Impressionist painter. 
Also, Oct. 1 to Jan. 2: "Nicolas Pous- 
sin." More than 100 paintings and 
135 drawings documenting the 1 7th- 
century French painter's artistic evo- 
lution, from his Baroque composi- 


tions to the mythological paintings 
and the biblical subjects. The exhibi- 
tion will travel to London. 

Musde du Louvre, ted: 40-20-50-50, 
closed Tuesdays. To Dec. 19: 
"D'Outre-Manche: L'Art Britannique 
dans les Collections PubJiques Fran- 
ceses.” The evolution of British art 
from the end of the 16th century to 
1850, through 230 paintings, engrav- 
ings, drawings and sculptures by Ho- 
garth, Reynolds and Gainsborough, 
Bonington. Constable and Turner 

GERMANY 

Leipzig 

Museum der bitdenden Konste, lei: 
f34l) 31-31-02. closed Mondays. 
Continuing/To Nov. 5: "Lucas Cra- 
nach: Ein Maler-Urrternehmer aus 
Franken." More than 200 hems, in- 
cluding 54 works by the 1 6th-century 
German painter and engraver. 

ITALY 

Florence 

Chiesa di S. Stefano deg II Agostin- 
lani In . To Dec. 11: "II Pontormo a 
Empoti." Features works by the 1 6th- 
century Italian Mannerist painter 
while In the district of Empoli. It in- 
dudes early works as wdl as paint- 
ings by other masters of the early 


16th-century, such as Andrea del 
Sarto and Fra' Bartolomeo. 

JAPAN 

Tokyo 

Hara Museum of Contemporary 
Art, tel: (3) 3445-0651 . open daily. 
To Nov. 3: ' Yasumasa Morimura: 
Rembrandt Room." Morimura uses 
photography to supenmpose himself 
into masterworks of Eastern and 
Western art. His creations have in- 
efuded him as Manet's "Flute Play- 
er." and as Pre-Raphaelite maidens. 
The exhibition features 26 works 
based on portraits by Rembrandt. 

SINGAPORE 

National Museum, tel: 332-3656. 
dosed Mondays. Oct. 1 to April 30: 
"Song. Yuan and Ming: Life in the 
City. Exhibits trom the Song. Yuan 
and Ming dynasties from 960 to 1 644 
give glimpses of the vibrant life m 
towns and cities of the period. 

UNITED STATES 
New York 

Metropolitan Museum of Art, tel: 
(212) 570-3951. closed Mondays. 
To Jan. 8: "Ongms of impression- 
ism.” Painbngs by avant-garde artists 
who worked in Paris in the 1860s. 





Carrier/Hotel 

Alitalia 


Canadian Airlines 


Cathay Pacific 


Emirates 


Location 
Britain to Italy 


Britain to Canada 


Hong Kong to Europe 


Bangkok to Dubai 


Four Seasons Hotel Toronto 


Gulf Air 


Britain to Gulf 


Hotel Nikko 


Le Parker Meridien 


Manila Hotel 


Meridien Hotels 


New World Hotel 


Oriental 


Portman Shangri-La 


Shangri-La Hotel 


Virgin Atlantic 


Virgin Atlantic 


Bangkok 


Hong Kong 


New York 


Europe 


Ho Chi Minh City 
Singapore 

Shanghai 

Britain to Scandinavia 


Kuala Lumpur 


Britain to United Stales 


Hong Kong to London 


Britain to United States 





Save £100 ($150) on business-class fare lor same-day round- 
trips between London Heathrow and Milan/Rome. Schedules allow 
for a full day in either city. 

Round-lrip business-class fares of £1,726 from Heathrow. Gatwick 
or Manchester to Toronto, Winnipeg, Calgary, or Edmonton save 
£548 off the regular London-Toronto fare. 

Passages members buying a round-trip business' class from Hong 
Kong to Amsterdam. Frankfurt, Manchester, Paris or Rome earn 
enough points for a free round-trip economy ticket from Hong Kong 
to places such as Manila. Hanoi and Taipei. (Sign up for member- 
ship in Passages at check-in.) Until Dec. 15. 

Three-night Dubai holiday package at $870 per person includes 
round-trip economy fare and hotel wilh breakfast for twin-share plus 
shopping discounts of up to 30 percent 

Rooms (single or double occupancy) lor 195 Canadian dollars 
(SI 50) per night Monday to Thursday and 170 Canadian dollars on 
' Friday, Saturday and Sunday nights. Until Oct. 31 . 

Full-fare passengers traveling from Manchester to the Gulf, Africa, 
the Indian subcontinent, the Far East or Australia can choose bet- 
ween a companion fare in first class and business class: a confir- 
med upgrade from full economy to business or business to first; or a 
connecting flight from any British airport to Manchester. Until Nov. 
30. 

Three-day/two-night package for 7,200 baht ($288) for single and 
3.850 baht per person twin sharing includes “superior room, welcome 
drink and fruit basket and meal voucher for BOO baht. Until Dec. 31. 

"Winter Package" for 1,380 Hong Kong dollars ($180) per night 
(single or double) includes welcome tea/coffee, fruit basket use of 
health dub and pool, 10 percent discount in hotel restaurants and 
bars, one set of round-trip ferry coupons between Kowloon and 
Central. Dec. 1 t o March 31. 

Weekend rales allow stays of one to four nights for $159 per night 
plus tax. Until Dec. 31 . 

Suites at 50 percent off. Even bigger discount if you are over 50. 
Until Dec. 31. 

Discounts of up to 50 percent in many cities, including Paris, 
Brussels and Barcelona. From Nov. 1 for weekend stays and from 
Dec. 1 for every night Until March 31 . 

Introductory rates of 20 percent off normal prices of SI 75 to S220. 
Oct. 1 to Dec. 31. 

"Suite Affordables" package includes suites from 435 Singapore 
dollars ($290) with airport transfers, local phone calls, pressing of a 
suit or dress and 4 P.M. checkout. Until Dec. 31 . 

A 30 percent discount on regular room rates. Until Nov. 30. 

Passengers buying a round-trip business-class ticket to Denmark. 
Finland. Norway or Sweden get the first night free at 19 parlidpating 
SAS Hotels. Subsequent nights are 30 percent off the rack rate. 
Until Dec. 31. 

Weekend break package costs 195 ringgit (about S76) per room per 
night, induding continental breakfast. Until April 30. 

Full-fare passengers are upgraded to the next class (subject to avai- 
labflity) on flights from London (Gatwick) to St. Louis and onward 
conne ctions across the United States. Until Dec. 31. 

Full-fare economy passengers get three-day Avis car rental with 
unlimited mileage; six days for two people traveling together. Extra 
days at reduced rates. Until Dec. 31 . 

“First Time Flier Promotion:" first time round-trip in business class 
from London to New York, Los Angeles or Miami earns 40.000 
bonus points, which can be redeemed for an economy round-lrip 
ticket or up to four round-trip tickets between London and continen- 
tal Europe with SAS or British Midland. 


Although it* IHT carBtutif checks ftps? alters .{time be lorewamed that some travel agents may be urjmw a/ them, or unable to book nem. 


SUES 






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THEORY AND PHILOSO- 
PHY OF ART: Style, Artist 
aid Society 

b Meyer Schapiro. Illustrated 
36 pages. $ 27 . 50 l George Bra- 
Jler. 

leviewed by 
/tichael Kimmelman 

r HE daun tingly tided “The- 
ory and Philosophy of Art; 
ityie. Artist and Society” has 
seen long awaited. It is the 
ourth in a series of essay collec- 
tions by the eminent scholar 
Meyer Schapiro. The first three 
volumes, devoted to late an- 
tique and medieval, Roman- 
esque and modern art, came out 
in the late 1970s. 

They revealed to a general 
audience what many art histori- 
ans and artists and his former 
Columbia University students 
knew: that Schapiro, 90, is 
among the century’s most in- 
spired thinkers. 

Those three volumes, espe- 
cially the one on modem art, 
turned out to be popular even 
though the essays had originally 
been written for specialty perio- 
dicals. Why popular? Because 
ihe ideas in Schapiro’s articles 
are inevitably bigger than the 
recondite subjects he is ostensi- 
bly addressing. His writing, 
while uncompromising, dense 
and diziving in its references, is 
without cant or pomp. He is a 
humanist, not a pedant and the 
pleasure he takes in le arn i n g is 
obvious, pore and contagious. 

Most of the essays m this new 
volume were written decades 
ago, hut Schapiro is a perfec- 
tionist who was apparently re- 
luctant to commit them to book 
form. Other articles were con- 
sidered, but he ultimately felt 
they weren’t ready, so the pub- 
lisher, George Braziller, says a 
fifth volume is planned. 

To appreciate this book, U s 
helpful to know something 
about Schapiro’s contribution 
to scholarship. He is the most 
important an historian that the 
United States has produced, an 
intellectual beacon since the 
1930s. when he became a con- 
spicuous figure in Yoii 


leftist circles. His writings, even 
those from half a century ago, 
remain alive and influentiaL 
His early Marxist essays contin- 
ue to inspire new generations of 
social art historians. 

His career stretches back to a 
1929 doctoral dissertation at 
Columbia on the medieval ab- 
bey of Moissac in southwestern 
France. By referring to social 
and political history, theology, 
folklore and many other areas 
of inquiry, that work, when ex- 
cerpted in Art Bulletin in 1931, 
helped to broaden the ways of 
looking at and thinking about 
art of the Middle Ages. 

Over the years, Schapiro has 
opened art history to many per- 
spectives: Marxist, semiotic, 
psychoanalytic. An impas- 
sioned modernist, he has dem- 
onstrated that the study of art is 


By Alan Truscott 

T O a modem eye, the follow- 
ing game was decidedly pe- 
culiar. It was not contract 
bridge, nor even auction bridge, 
but the original “bridge.” The 
dealer had to play the hand, and 
could other name the trump 
suit or permit his partner to do 
so. Then the players could dou- 
ble and redouble ad infinitum. 
There were no part-scores, 
games, slams or rubbers. The 
irick scores, for the side taking 
seven tricks or more, were: 
spades 2; dubs 4; diamonds 6; 
hearts 8, no-trump 12. There 
were complex bonuses for hon- 
ors is the trump suit. 

If the dealer passed and the 
third hand was weak, he tended 
to bid spades, so that the oppo- 
nents would collect 2 points a 
trick. This strategy backfired on 
the diagramed deal, dealt by an 
anachronistic computer. North 
selected spades as the trump 
suit, and his partner had to 
struggle in spades doubled. 

With perfect defense he 
could have been held to one 
trick, for East-West can draw 
trumps and score five trump 
tricks, five dub tricks and two 


part of, and essential to. the 
totality of culture. 

And he believes this also ap- 
plies to the study of contempo- 
rary art. As an intimate of the 
New York School artists and a 
member of the Partisan Review 
circle, he helped to give to the 
study of new art an intellectual 
legitimacy it had not bad. 

“Theory and Philosophy of 
Art” indudes both famous and 
previously unpublished essays, 
not specifically about artists or 
works of art, but about differ- 
ent approaches to the study of 
art. Schapiro writes, for in- 
stance, about Freud’s analysis 
of Leonardo and Heidegger’s of 
van Gogh, about the French 
critics Diderot and Eug&ne Fro- 
mentin and about the connois- 
seur Bernard Berenson. 

His article about style is one 


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bidding: 

South West North East 

Pass — 4 DbL 

Pass — Pass 

West led the diamond four. 

red aces. In practice South was 
allowed to make two tricks, los- 
ing 24 points: five down dou- 
bled, at 2 points a trick, plus 4 
for honors. 

In the replay South bid dia- 
monds and was doubled by 
EasL North redoubled, and 
South, had no trouble making 
nine tricks. His score was 3 
times 6, multiplied by 4 for the 
redouble, plus 24 for honors, 
for a total of 96. England 
gain ed 120 on the deal, and 
eventually won the match by 

170- 


of the essential statements on 
the subject. Style in this case 
has to do with the evolution of 
forms, and Schapiro dissects 
grand theories on the subject to 
prove that in the end, no ade- 
quate theory exists, li’s a subtle 
defense of iiis own multifaceted 
an history. 

His essay “On Some Prob- 
lems in the Semiotics of Visual 
Art: Field and Vehicle in Im- 
age-Signs” is a classic. The 
prose is Mozartian, complex in 
its thought but elegantly and 
straightforwardly put. It dis- 
cusses issues like the flat surface 
and rectangular shape of a pic- 


ture, the frame around a picture 
and the relationship between a 
picture's size and its meaning, 
citing examples of Stone Age 
art, children’s drawings, Assyr- 
ian reliefs and Chinese colo- 
phon Inscriptions. 

Isn’t it interesting. Schapiro 
notes, that without thinking we 
hold in conceptual balance the 
illusionism of a painted image 
wilh the presence of an artist's 
signature in the corner of that 
image? His article is a refresher 
course in looking. 

Every art dealer, collector 
and grant-giver especially 
should read the book's last es- 


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say, “On the Relation of Patron 
and Artist: Comments on a 
Proposed Model for the Scien- 
tist," which Schapiro wrote in 
1 964 for The American Journal 
of Sociology, in response to an 
article called “Role Strain and 
the Norm of Reciprocity in Re- 
search Organizations.” That 
unlikely source inspired one of 
the most pointed sketches on 
the history of art patronage, al- 
lowing Schapiro to champion 
artistic freedom in the process. 

Michael Kimmelman is on the 
staff of The New York Times. 


WHAT THEY'RE READING 


• Rmfi Bogni, chief executive 
of Swiss Bank Corporation in 
LoDdon. is reading “ Does God 
Play Dice T by lan Stewart. 

“Basically it is all about cha- 
os theory and its development 
It is well written and does man- 
age to hold your interest.” 

(Erik lpsen, 1HT) 



Rate the world's best restaurants 
with Patricia Wells. 

The IHT's restaurant critic has set out 
on a rare and ambitious gastronomic journey, a 
search for the 10 best restaurants in the world. 

She will be rating, in month-to-month 
articles, the top restaurants from region to 
region, and comparing them to one another. 

Whether it's the best in dim sum, 
delicious but secret sushi bars or the finest of 
French tables, she will guide readers with 
articles about inexpensive restaurants as well 
as the grand ones in the world's major cities. 

^ She will also share her tips on how to select 

quality restaurants in unfamiliar territory. 

Don’t miss this series. 


fxr:. vr: .■ 


r.’.. * " V 


COMING OCTOBER 17th 

ITALY 


oppautE vaio 
tSTW73931. 


Tb ATK3V2. fto . 


Patricia Wells is the author of 77j<? Food 
^^Lc.ver's Guide to Paris, now in its 
third edition. 








































































































• *5* 



' V 



** 


International Herald Tribune, Friday, September 30, 1994 


Page 13 


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5 ‘ 


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3. ' 

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4 . 

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THE TRIB INDEX: 115.39® 

internal Herald Tribune World Stock Index ©, composedof 

S nJS? tIOf ^ 1,y - ,nves ^ b,e from 25 countries, complied 

by Bloomberg Business News. Jan. 1 . 1992 = 100 
120 . ' 



m ■ j 

• -"jij ;/ 


9/29/94 close: 115.39 
Previous: 115.40 


go 


> L- / . A# ■ *.u. ■ . x-V 


•> iaj 

s 

1994 


Appm weighing: 32% 
Ctosa: 12859 Pm- 128.14 


150 


Approx, weighting: 37% 
Ctosa 11550 Prev.: 115.41 




1994 


1994 

| North America 


Latin Amortcu 


Approx weighting: 2W 

Ctosa: 95.48Pmj9S.il 


Approx, wet^ifing: 5% 

Close: 147.49 Pm.: 149.41 




7Tw tndax Hacks U.S. dollar values of stocks In: Tokyo, New Yotfc, London, and 
Aigwitlna, Australia, Austria, Belgium, Brazil, Canada, Chfla, Dvunark, Finland. 
Rama, Garmany, Hong Kona lUJy, Mexico, Nottwriande, New Zealand, Norway, 
Singapore, Spain, Sweden, Switzerland and Venezuela. For Tokyo. New York and 
London the Me* Is composed of ff» SO lop Issues in terms of market capkaBzaBm, 
othmwisa the ton top stocks are tracked. 


1 In riuetriat Sectors [j 


Thu. Pm % 


Thu. 

Pi*». 

% 


dot* dott Etwngii 


dm 

don 

dmgc 

Energy 

111.68 112.45 -0.68 

Capital Goods 

115.40 

116.61 

-1.04 

lAfflfes 

128.49 128.75 -020 

Raw Materials 

134.43 

134-57 

-0.10 

Finance 

116.88 115.06 +1.41 

Consumer Goods 

10320 

103.71 

-0.49 

Service* 

12029 121.19 -0.74 

Mteceflaiwous 

134.70 

13535 

-0.48 

For mom information about Ihe Max. a booklet is avaheNo tree ol charge. 


Write to Trib Max, 181 Avenue Charles da GauBe. 92521 NetMSy Cede x, France. 


O International Herald Trtoune 


Car Sales 
Help Fiat 
Return 
To Profit 


Bloomberg Annas Neta 

MILAN — Fiat SpA said 
Thursday that rising sales and 
efficiency helped it bounce 
back to profit in the fust half of 
1994, signaling a dr amati c turn- 
around for Italy's largest indus- 
trial company. Car sales were 
strong, particularly outside the 
Italian market. 

The company said that it hnd 
posted a pretax, profit of 727 
billion lire ($457.8 million) in 
the first half, compared with a 
pretax loss of 982 billion lire in 
the same period a year ago. 

The figure exceeds what many 
analysts bad been expecting the 
company to make for the entire 
year. Furthermore, Italy’s car 
sales are widely expected to pick 
up in the second half of 1994. 

Fiat had lost 1.78 trillion lire 
in 1 993. its first-ever overall loss 
and its first operating loss since 
the 1970s. 

This year, operating profit 
was 792 billion lire in the first 
half, compared with an operat- 
ing loss of 476 billion lire a year 
ago. The company said it had 
some one-time gams, but it did 
not provide details. 

Fiat said all its main units 
were in profit at the operating 
level by the end of June. 

Sales in the first half rose 16 
percent, to 3136 trillion lire, 
and the company predicted that 
revenue totaled 63 trillion lire 
for the full year, up from 54.6 
trillion lire in 1993. 

Fiat said it sold 713,000 cars 
in Europe in the first half, with 
its market share staying steady 
at 1 1.3 percent. But stripping out 
Italy, its European market share 
gained to 5 percent from 4.6 per- 
cent, with sales up 22 percent 

Fiat’s worldwide sales to- 
taled 1.07 million cars, an in- 
crease of 10 percent, with 
strong gains in Poland. Brazil, 
Argentina and Turkey. 


WALL STREET WATCH 


Where Fund Money Flows 


By Floyd Norris 

New York Times Service 

N EW YORK — Inflation fears are 
striking mutual fund investors, 
who are moving money into gold 
stock funds while taking it out of 
bond funds, which have been damaged by 
rising interest rates. 

“Investors are clearly responding to a per- 
ceived inflationary environment” said Neal 
Litvack, an executive vice president of Fideli- 
ty Investments. Hepointed to a survey of 
investors, done for Fidelity by the University 
of Michigan, which showed more than 50 
percent of those questioned this month think 
inflation will turn up in the next six months. 

In recent months, that figure had hovered 
near 20 percent. 

At T. Rowe Price Associates, another large 
mutual fund company, executives reported a 
surge of interest in its New Era Fund, which 
invests in natural resources companies and is 
often viewed as an inflation hedge. 

Such trends have helped sustain the inflow 
of money into stock funds. 

At the same time, it appears that the out- 
flow from bond funds, which has been going 
on since last spring, is increasing amid con- 
cerns that the Federal Reserve Board will 
raise interest rates soon. 

Figures released Wednesday by the Invest- 
ment Company Institute, a mutual-fund 
trade group, showed that bond funds suffered 
a net cash outflow of $2.8 billion in August, 
and fund executives said the figure has almost 
certainly risen this month. 

Mr. Litvack of Fidelity said that the net 
inflow of cash into the firm’s gold stock fund 


in September was the first this year. For the 
industry as a whole, such funds have seen net 
inflows since May. 

While bond funds now offer much juicier 
yields than they did when interest rates bot- 
tomed last October, investors seem to be 
focusing more on the principal losses that 
have come from rising interest rates, which 
they fear will continue. As bond yields rise 
with interest rates, bond prices fall. 

Bond funds have seen net cash outflows 
every month since March. Government bond 
funds have suffered withdrawals in every 
month since November. 

While government bond funds took in a net 
$5.9 billion in 1 993, they have seen withdraw- 
als of 513.7 billion in the first eight months of 
this year. 

Total assets of government bond funds fell 
below $100 billion in August for the first time 
since January 1 992; they are down 23 percent 
from the peak reached in July of last year. 

Some stock fund managers say the public 
has lost its appetite for risky funds. Money has 
moved either toward funds viewed as inflation 
hedges or toward less-aggressive funds. 

A remarkable amount of money has been 
flowing into stock funds despite the fact that 
equities have not been performing very well. 

The August figure was the best since Feb- 
ruary. and the fourth-best month ever. So far 
in 1994, S93.4 billion has gone into stock 
funds, leaving them on a pace to break the 
full-year record of $127.9 billion set last year. 

Much of that strength has come from inter- 
national funds, which took in $35.9 billion in 
the first eight months, just below the 1993 
full-year record of $37.8 billion. 


Women and Bretton Woods 

50 Years On, 2 U.S. Officials Signal Shift 


By Alan Friedman 

InienuuianaJ Herald Tnbune 

MADRID — Ever since they were founded 
after the end of World War II to help stabilize 
the world economy, the International Mone- 
tary Fund and the World Bank have been 
decidedly male preserves. 

Men have occupied almost all the key posts 
— despite the growing recognition that in 
much of the dewloping world women often 
play the central role in economic life. 

But if the top U.S. officials at these finan- 
cial institutions have their way, the near- 
monopoly by men could soon change. The 
message should become clear as early os this 
weekend, as delegates gather here for the 
annual IMF and World Bank meetings. 

This year, for the first time, the legions of 
pinstriped male bankers and technocrats tak- 
ing pan in the annual IMF- World Bank jam- 
boree will find that both of the US. executive 
directors at these institutions are women. Both 
will be challenging the status quo, pushing for 
reforms that range from socially responsible 
lending to increasing equality in the staffing of 
the institutions themselves. 

Karin Lissakers, the American executive 
director at the IMF, is a veteran of the Senate 
Foreign Relations Committee, the State De- 
partment and a specialist on banking and 
Third World debt 

Jan Piercy, who was named by President 
Bill Clinton as U.S. executive director at the 
World Bank last spring, is a former banker 
and a specialist in development economics 
who previously was deputy director of presi- 
dential personnel in the White House. 

That Ms. Fiercy is a forthright individual 


comes across in her assessment of the Madrid 
meeting, which will include lavish celebra- 
tions of the 50th anniversary of the founding 
of the World Bank and IMF at the Bretton 
Woods conference. “I am dreading Madrid." 
said the new top American official at the 
World Bank. "I find it totally impossible to 
reconcile the kind of opulence of these annual 
meetings with our fundamental mission as a 
development organization." 

At the IMF, Ms. Lissakers noted that the 

Bretton Woods institutions were bastions of 

Top American aides at the 
IMF and World Bank are 
women challenging the status 
quo. 

male supremacy, “like the world of money 
and economics and finan ce." She said in an 
interview that she herself had not felt any 
discrimination since arriving at the IMF last 
December. “But," she added quickly, “the 
fact is that I also happen to represent the 
largest member of this institution." 

The 49-year-old Ms. Lissakers said her ex- 
perience at the IMF had convinced her "there 
is an institutional problem, a subconscious 
discrimination, against women that one sees in 
terms of salaries and promotions.” She said 
there were few women in senior positions at 
the IMF, and not a single woman director of 
the important regional divisions. 

Ms. Piercy. who in her previous position 

See WOMEN, Page 18 


IMF Supports Aid to Kiev 


International Herald Tribune 

MADRID — The Interna- 
tional Monetary Fund on 
Thursday announced its sup- 
port for a comprehensive eco- 
nomic reform program in 
Ukraine, paving the way for 
the former Soviet republic to 
obtain multilateral Western 
aid that could total nearly $4 
billion over the next two 
years. 

Michel Camdessus, the 
IMF managin g director, said 
an initial loan of $360 million 
would be disbursed before 
the end of 1994 and that 
“considerably more” funds 


would follow as long as Kiev 
takes the actions it has prom- 
ised. These include measures 
to reduce its deficit, reform 
its labor market, speed up 
privatizations and battle in- 
flation. 

“This has all the potential 
to be a long-awaited break- 
through in the Ukraine," Mr. 
Camdessus said. He urged 
wealthy Western govern- 
ments participating in the an- 
nual meetings of the IMF and 
World Bank to supplement 
IMF assistance with substan- 
tial government aid. 

At the annual Group of 


Seven summit last July, lead- 
ers agreed that making sure 
Ukraine succeeded in its tran- 
sition to a market economy 
was of economic, political 
and military importance, nor 
least because the country still 
has nuclear weapons. 

The G-7 countries held out 
the prospect of $4 billion of 
multilateral aid if a reform 
plan could be worked out 
with the IMF. 

The newly announced $360 
million loan is half of a $700 
million systemic transforma- 

See AID, Page 18 


Stocks Slide 
On Renewed 
U.S. Rate Fears 


Compiled by Our Staff From Dispatches 

LONDON — Fears of rising 
U.S. interest rates and a dire 
profit forecast by a leading 
French company combined to 
depress European stock mar- 
kets on Thursday. 

French, German, British and 
bourses dosed lower, with the 
pressure spilling over into the 
Dow Jones industrial average in 
subsequent U.S. trading. 

London’s Financial Tunes- 
Stock Exchange 100-share lost 
1.5 percent, at 2,992.50. Germa- 
ny’s DAX declined 1.2 percent, 
at 2,043.58, and France’s CAC- 
40 index slipped 1.2 percent, at 
1,881.74. 

“It is looking pretty ghastly. ” 
one British trader said. "There 
is just no confidence out there." 

Figures showing strong U.S. 
economic growth resurrected 
fears the Federal Reserve Board 
would raise interest rates to 
dampen inflationary trends. The 
fears were briefly laid to rest on 
Tuesday when the Fed’s policy- 
making body met but cud not 
raise rates. But analysts said the 
Federal Open Market Commit- 
tee may have authorized Alan 
Greenspan, the Fed chairman, 
to raise rates at his discretion. 

Thursday’s figures showed 
rising new-home sales, a drop in 
jobless claims and an upward 
revision of the gross domestic 
product for the second quarter. 

“It’s part of a consistent pat- 
tern of European markets ap- 
pearing to be coupled to U.S. 
markets and showing negative 
reactions as pressure on those 
markets filters through." said 
Paul O'Brien, a European 
economist at J.P. Morgan & Co. 

The stock markets were 
dragged down by the 14 percent 
plunge in shares of Alcatel 
Alsthom SA of France, which 
announced a s tee per-than -ex- 
pected decline in first-half prof- 
it Wednesday night 

Alcatel Alsthom. one of 


France’s largest companies and 
a world leader in telecommuni- 
cations, transportation, and 
electric power generating 
equipment said profit fell 33 
percent to 2.02 million French 
francs because of a weak Ger- 
man market and lower orders. 

Alcatel also forecast that full- 
year profits could be down 40 
percent The company’s shares 
closed at 488.70 French francs, 
compared with 567.00 francs. 

Alcatel's announcement had 
an effect in Germany, where 
Siemens ended down 22.20 
Deutsche marks ($14.30). at 
632.30 DM, with traders fear- 
ing that the bad news from the 
rival Alcatel boded ill for Sie- 
mens results. 

As expected, the Bundesbank 
left its leading interest rates un- 
changed at its council meeting, 
and economists said rates were 
clearly on hold until after Octo- 
ber’s general election. 

“This is a crash-scenario," 
said Richard Sopp, head of 
sales at brokerage Ballmaier & 
Schultz Wertpapier AG. “It’s 
topsy-turvy. TTie foreigners 
want to cash in ahead of the 
elections. Who knows what’ll 


ha^jjen there?" 


several European ex- 
changes fell on news that U.S. 
housing sales rose 9.7 percent in 
August, investors trading on the 
Milan exchange focused on op- 
timism that the tough 1995 na- 
tional budget will get through 
Parliament. 

The Italian stock market's 
Mibtel Index ended down 1 
percent, at 10,992. 

Leading British stock, aver- 
ages plunged to their lowest lev- 
els since July, tracking falling 
stocks and bonds on Wall Street 
amid concern the U.S. inflation 
rate is climbing. 

US. stocks tumbled as reports 
of economic growth fueled con- 
cern that accelerating inflatior 

Sec MARKETS, Page 14 


Toshiba Joins the PowerPC Microprocessor Camp 


Compiled by Our Staff From Duptudua 

TOKYO — International Business 
Machines Corp. said Thursday it had 
wooed Toshiba Corp. into the group of 
supporters of its PowerPC chip in an 
effort to usurp Intel Corp.'s dominance 
in the personal computer microproces- 
sor market 

IBM granted Toshiba a license for 
IBM’s PowerPC microprocessors and 
IBM’s AIX operating system software. 

The pact also gave Toshiba the right 
to develop its own version of the 
PowerPC, the companies said. Dan Sul- 
livan, IBM’s program director of licens- 
ing, said “there are no restrictions" of 


how Toshiba could use the chip. To- 
shiba said that it planned to use the 
PowerPC in midrange computers. 

"The market is moving towards a 
merging of information and communi- 
cations systems with visual technologies, 
and that requires computers offering 
much higher levels of performance,” 
said Kunika Mizushima, executive vice 
president of Toshiba. "Toshiba and 
IBM consider this PowerPC alliance as 
an important strategic step towards next 
generation computer development." 

But Toshiba, a leading maker of por- 
table computers, said it bad no plans to 
use the PowerPC in personal computers 


at the moment. “We believe that the 
PowerPC will take a significant portion 
of the PC market," said Mr. Mizushima. 
"But the market is still developing, so we 
haven't decided whether we will use it in 
our PCs." 

Although the PowerPC chip has been 
attractive to computer makers in their 
high-end servers because of its high per- 
formance, demand for use in personal 
computers has been weak because of a' 
lack of programs. 

The PowerPC chip, developed 
through a joint effort by IBM, Apple 
Computer Inc. and Motorola Inc„ com- 


petes directly with Intel's widely uset 
Pentium microprocessor. 

Mr. Sullivan said the PowerPC rela- 
tionship could lead to further coopera- 
tion between IBM and Toshiba, noting 
that cooperation in liquid-crystal dis-. 
plays, flash memories and other busi- 
ness areas had been fruitful. 

IBM also has PowerPC agreement. 1 
with the Japanese companies Hitach. 
Ltd. and Canon Inc., but this pact wsu 
much bigger because of Toshiba’s wid< 
range of computer, chip and oLher relat- 
ed products, industry sources said. 

(Reuters, AP, 


Hong Kong Exchange Adds Disclosure Rules 


Agpnee Fmnee-Preue 

HONG KONG — Compa- 
nies listed in Hong Kong will 
have to reveal new details of 
their directors’ fees, major cus- 
tomers and property holdings 
under disclosure rules an- 
nounced Thursday by the terri- 
tory’s stock exchange. 

The rules, which follow two 
months of consultations, be- 
come effective Saturday and 
will apply to accounts for fiscal 
years ending on or after Dec. 
31, the exchange said. 

“The changes will increase 
the transparency of listed com- 
panies and will bring accounts 
disclosures to a level compati- 
ble with Hong Kong’s position 
as a major international finan- 


cial center," said Herbert Hui, 
the head of listings. 

Chinese state companies 
whose shares trade in Hong 
Kong, as well as local firms that 
are incorporated overseas, will 
be subject to all the new rules, 
Mr. Hui said. 

Companies are to increase 
their disclosures about fees and 
bonuses paid to their directors, 


as well as salaries and perks for 
senior managers, the exchange 
said 

Details of directors and senior 
managers themselves, particular- 
ly their relationships, also will be 
required, as well as new informa- 
tion on pension plans and reval- 
uations of properties and other 
tangible assets. 

Major customers and suppli- 


ers will have to be named, and 
annual reports axe to include “a 
discussion of the results for the 
year,” including comment on 
financial resources and poten- 
tial acquisitions. 

Though not part of the new 
rules, the exchange is also ask- 
ing listed companies to an- 
nounce results early in the day 
and to many news media. 


Weekly net asser 
value 

on 26.09.94 

US $ 60.07 

Listed on the 
Amsterdam 
Stock Exchange 

Information: 

AlcesPierson Capital Management 
Rolan 55, 101 - KK. Amsterdam. 
Tel.: t- 51-20-5211410. 



CURRENCY & INTEREST RATES 


AButardom 

■nwwu 

Frankfurt 

He) 


MJksa 


Cross Rate* 

( t DM, 

us uns \m 
n*ns sons as® 

«• w — 

2M* 

nun SL5U mn 

us&ft mat iwa 

MWYMKtfe) 1 - SCo U* 

&S LOB WHS 
Tokyo ** TB7» BM 

Toronto «« MS MW 

Zorich UMS U3B US 

1ICU IMS UW MW 

i (or mt in tan 

Closings In Amsterdam. London. 
rahaotSpjn. 

at To puy one pounds hi Toouf 
ovottobt*. 

Othar Dollar Valuta 

CWTWCV Ptfi 
Greek drac. mss 
Hew Kartl MM5 
HtmLtorW VBJ5 
Iwflen rupee JUS 
ImH. r oeia ft 217401 
IfUtl AH” 
lawttSMk. MB 
Kuwaiti Aar LSYH 
Moknr.rim. SJOJS 


Sept. 29 

FA Lira OFI B.F. SJ“. Yen « Peseta 

one 9.1115 ■ Utt* U* U57S* IMS 1J53- 

UB IMS* 1USS Mil BJ2B ZL71 MldJ* 

urn uw* Qit27 *tms* m uw* urn i®’ 

UB2 ym n 2737 SUM UK 1554* 2.01 HUS 

nsn &jm * Tin* uma w.wt ixud* *sj») — 

sue — nil «« mwo ism mn 

UK) usa 1JB 310 UK5 *6# 1 - JC7 ,auB 

— — oiffi* uea omw hot usn* urn tins* 

HP nru 3tn noil HOD 710 17W 

mtK 90U4* BJTO OOP* 10441 LWJ* — 1X47* 

S2Q4 MW H740* UCOJ* 1JBD* MM 10019“ 

UJU1 2.UI6 *490 1 5928 EZ2J1 1-4*54 1S.1J1 

MA symu. UfE 4*7217 LSS30 M474J 1-9*74 1HM 

New York end Zurich flWrws m other centers; Toronto 


Eurocurrency Deposits 

Swtt* 

Dollar D-Mark Franc 

Sterling 

French 

Franc 

Yen 

Sept. 29 

ECU 

1 month 

4%*-5 

4*ir4 , h. 

3 "W*. 



2 v,2v. 

5VJ-5V* 

3 month* 

Shrfif. 

5\v5*. 

4-4 Vo 


5 %rS 

VA-V* 

S 

6 months 

5^5% 


4 Vw-4 v. 

SM VS 

FU-fCh 


6<ft-6<4i 

1 rear 

6 *r6 K. 

5*r5'h. 

4«r4 ■h. 

VfrTVi 

AK-Ht 

2 V2 

6HrA% 


Sources: Reuters, Lloyds Bonk. 

Rates enoHeabkr to Mortnaik deposits otn mmon mtntmom (or eouhulentl. 


one donor; *.■ Units of 100; net otto ted; »■*-: net 


CWTWCV 

Arawt-pc* 

AMML5 

ABrir.iCML 

tiwUraal 


CmAkwwo 
0*nW» krone 
ttmpwn* 
na.iMrtto 


Per* 

wm 

U515 

mow 

as* 

I52M 

VJff 

om 

UB 


Centner Per* 
Max. peso UB4 
N, Zealand* 1.4592 
llorw. krone Win 
PhlLpcM 2S.W 
PoHihzMr M30a 
Fortescutto 157.92 
Ruct-rutrie 2SMJU 
JfflKtJ rival 17S05 
Slav.* »■** 


Currency Perl 
S.Afr.rand 1569 
S.Kor.wm 79&20 
5 wed. krona 7.459 
Taiwan 5 34.16 

TMIMM 3*$3 

TvrkM) lira 3*066. 
IMEcBrhafli 16727 
Venei. ban v. 194LOO 


Forward Rates 


- Currency 
MmdSMrftW 
Pee rant mm * 


Currency 
CunodJoo *JBor 


30-dav 44WOV FWtnf 
1-3423 UG3 Uffii 
00,10 97Ji 97 AS 


jfrday 60-dav »<J« 

UTSS UMft >-»*» 



jantotnmc »_jl rgrussew; Banco Commerctaie f muane 

,T * Y0,! Rom *** * ow “* 

t Toronto); IfBF IS&RI- Other dido from Reuters andAP, 


Kay Monay Ratas 

United States Clow 

Discount rote 4JOO 

prime rale f* 

Federal Hinds **• 

fraMwfbCDs 4 -62 

CMinfcMMrUadm 
haonttiTreaferrMII 
1-rear TrtaiBry Mil &61 

2>ytar Treasury note 0S1 

Srear Treasury note TZI 

7-ycor Treasury note 7J0 

16-vear Treasury note 7*2 

30-rear Treasury bead 7J4 

Merrill Lynch JWar Ready (diet 4.11 
Japan 

Dwcwartrtrtt Mi 

Cali mam fW 

l-tnonm bnerbaab 21 V 

1 -monrb Interbank 214 

C^nanth Interbank ** 

10-year Government bond 454 

Germany 

Lombard rate 6J0 

Call money *-55 

l-momti Interbank 495 

J-mwitn interbank MO 

fr*nonffl Interbank 5J0 

u-vear Bund 7J5 


Prey. 

400 

724 

456 

456 

125 

451 

5J6 

450 

721 

735 

7S 

7,81 

409 


1M 

2.16 

2«v 

JU 

2K. 

448 

6-DO 

490 

100 

no 

5J0 

7JR 


Britain 


Bank ban rale 


» 

Call money 

100 

5* 

1-monTb Interbank 


54 

3-mpatti Interbank 

s*. 

5 hw 

rtnoctb liitcrtMBfc 

6to 

6fc 

T9-rfar dtt 

8.91 

9 JO 

France 



Intervention rate 

100 

100 

CaB money 

5* 

Sto 

I-muntb Interbank 

515 

5*. 

3-montb Interbank 

5* 

5Vj 

A-mantti Interbank 

51D 

5% 

T Drear OAT 

B.13 

M7 


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Sources; Reuters, Bloomberg. Merrill 
Lynch. Bank of Tokyo, C ammertbank, 
Graenmttt Montagu, Credit Lyeoncb. 

Gold 

AM. PM. ChTK 
Zurich 39435 3*5-75 -050 

London 39450 295J0 -0£5 

New York 3MJJ0 39870 +M0 

il_5- dollars per ounce, Lonaan otltdal tlx - 
laov Zorich and now Yoritooeruno and cas- 
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Source: Reuters. 


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Page 14 

MARKET DIARY 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, SEPTEMBER 30, 1994 


SHORT COVER 


r'J fjjjSh 


Strong U.S. Growth 
Undercuts Dollar 


Dow Jonas Averages 


Daily closings of tfie 

Dow Jones -Industrial average 


Open HtBh Low Lost dm. 

Indus 327 9 a 3878.18 3847.90 38509 — CAB* 
Trans 150X55 1507.69 1491.87 1483X4— 19J2 
UM 178-W 180.00 178.0V 18000 - 1XS 
Como 12+2.62 115137 128133 178438 —8.47 


EUROPEAN FUTURES 

Metals 


One Pnwlooi 

BM Ask Bid A3* 
ALUMINUM IHhtfl Grads) 
WtariPermMge^ 

Forward 161M0 IWWO MM/B 'M200 
COPPER CATHODES (HWl Grade) 

Bf'TBBVw » mg 

Forward 2S30XO 2531JB 2S6BJW 256940 

LEAD 

Dolton per mtrrtc ton 

Soot 62*00 63500 63100 43340 

Forward ottOO 63940 6*440 64740 

NICKEL 

fSS 0 ”*^ 641100 *42100 644100 64SUW 
Forward 6S11D0 6525 00 454540 4550.00 
TIN 

Dalian per nrnhfctaii 

spot 531000 5311 00 534000 smoo 

Forward 53VOOO 539SM 54210) 543000 
ZINC (Sndal High Grade) 

Dollars per m e t ric ten 

s£t 100750100050 101840 101MO 


Compiled by Our Staff From Dispatches 

NEW YORK — The dollar 
edged lower on Thursday after 
the Commerce Department re- 
vised its figure for second-quar- 
ter U.S. gross domestic product 
to a higher-than -expected 4.1 
percent. 

The dollar closed at 1.5482 
Deutsche marks, down from 
1.5528 on Wednesday. It also fell 
to 98.60 yen from 99.00. 

Investors often buy dollars 
after positive economic reports, 
betting that strong growth will 
give the Federal Reserve Board 


Foreign Exchange 


an incentive to raise rates to 
control inflation. High rates of- 
ten make dollar-denominated 
deposits attractive. 

This year, however, signs of 
economic strength have hurt 


the dollar by raising concern 
that the Fed has not raised rates 
enough to comrol inflation. 

Against other currencies, the 
dollar fell to 5.2853 French 
francs from 5.2965 and to 
1. 2855 Swiss francs from 
.1.2870. The pound rose to 
51.378? from «! S7dfi. 


Amy Smith, an analyst at the 
IDEA consulting firm, said the 
the dollar would not move much 
either way until traders see the 
outcome of the trade talks be- 
tween the United States and Ja- 
pan. The U.S. side set Friday. 
Sept. 30 at midnight as the dead- 
line for the two sides to reach an 
agreement before sanctions 
would be decided upon. 

An agreement on opening the 
Japanese market to U.S. goods 
would be the first step in paring 
Japan's $60 billion annual trade 
surplus, which many analysts 
said was the source of the yen's 
strength. The surplus means Ja- 
pan’s exporters have a wealth of 
dollars they must sell for yen 
when they send revenue home. 

Many traders expected the 
dollar to drop if Washington 
imposes sanctions on Japan. 

“Nobody wants to do any- 
thing before the trade talks are 
over." Ms. Smith said. 

“Both governments want to 
give each other a success, so a 
partial agreement is more likely 
than none at all,” Kevin Harris 
of MCM Currency Watch said. 

(Bloomberg, AFX) 



Standard A Poor 1 * Indexes 


Industrial! 

Tramp. 

UtIUMS 

Finance 

SPS00 

SP TOO 


Mbit Law Close Ctm 
530.16 54*41 547.42 — 174 
36196 35133 350.96—330 
15X64 151 JIB T51S4 - 1.10 
4153 4112 4116—035 
46434 467.51 46234 -2M 
aim 42730 42830 — 173 


NYSE Indexes 


Won Low Last an. 


Com pcs. re 
Industrials 
Tramp. 

UWIIV 

Finance 


99637 26434 25114 —131 
331.51 31V.6I 37137 — 1.43 
233.7V 230.21 730.77 —234 
206.10 20433 204.99 —1.10 
207.16 20145 20603 -0.99 


161.00 159 A0 
15935 15X75 
N.T. N.T. 
156.75 15600 
N.T. N.T. 


Ed. volume: 1M09. 


Last Some Cilia 
1ML75 16035 +150 
15933 15935 +250 
N.T. 1SB40 +250 
154.75 15735 +250 
N.T. 19950 +250 
Open Ini. 104049 


BRENT CRUDE OIL OPE) 

U.S. doflars #er BarreMots of 1500 bands 


53*000 533X00 

542100 543050 


Nov 

1649 

1695 

163$ 

1674 

+ 0X1 

Dec 

7692 

16X7 

1639 

1678 

+ 0.15 

JOB 

1692 

16.76 

1692 

1691 

+ 0.10 

Feb 

1609 

1634 

1690 

1682 

+ 0.13 

Mar 

1696 

1633 

1693 

1683 

+ 0L15 

Art 

1678 

1630 

1678 

1694 

+ 0.16 

Afar 

7478 

1630 

7478 

7494 

+ftW 

Jon 

1638 

16.70 

1*38 

1694 

+ 0.16 

J1* 

16JB 

163B 

1678 

1686 

+ 0.16 

AIM 

1630 

1638 

1638 

169? 

+ 0.16 

Sen 

1690 

1690 

1690 

1692 

+ 0.16 

Oct 

)690 

16.90 

1690 

1694 

+ 0.16 


Labor Unrest Threatens GM PIants 

DETROIT (NYT) — Labor stoppages 
key factories that produce automatic transmissions tor 
built by General Motors Corp„ threatening to shut ncwtofGM^ 
final assembly operations in North America withm a few day». 

An assembly plant in Linden, New Jersey, that builds coiripatt 
pickups also will close Friday for lack of parts. The plant in 
Linden employs 2.700 hourly workers. „ , 

GM plants in Wilmington, Delaware and Oklahoma City also 
were put on alert that they would be dosed for lack of parts by 

Saturday if the strike is not settled. 






Inventories Push Growth Higher 


E5>. volume: 51550 . Open Ini. 147515 


101 BUD 1Q19JM 


1030A0 103130 104200 104330 


Financial 

Ok LOW ClOM Change 


FTSE 100 ILIFFE) 
82$ eer Index mint 


Stock Indices 

Hied Low Close Chorno 


A tt J J A S 


NASDAQ Indexes 


| HU Low Cl 

I 3-MONTH STERLING (LIFFEJ 
[ 000300 -Ph Of TOO net 


i 82$ per 
Dec 


WASHINGTON (APJ — - A huge buildup in unsold goods 
spurred the U.S. economy to a strong 4. 1 percent annual growth 
rate in the spring, the Commerce Department reported Thupdav, 
revising a 3.8 percent figure reported a month ago. But tne bloated 
inventories could slow growth. , ... 


NYSE Most Actives 


Composite 

industrials 

Bcnt-S 

Ins wonce 

Finance 

Tranui. 


75937 75638 
770.95 76836 
772 M 76640 
940.49 93735 
93933 933.98 
706.40 70331 


75831 —130 
77033 —034 
769.80 —2.99 
940.17 -D.B4 
93431 —400 
70447 — S3I 



VaL 

HWl 

Low 

Lost 

cm. 

CUrnpaQS 


32 1 ■ 

50’. 

]2>l 

-•* 

Glaxo 

BrTWi 

18* 

10 

18 


BICChE 

■ttnn 

26'. 

in. 

37*+ 

— V. 

UsorG 

47445 

5\» 

):• 

4 

—1 

Alcatel 

3AI49 

18W 

18'-. 

18', 

-)«, 

Te(Mc« 

33615 

43 , 'l 

63 

62 1 '. 

— ?'•. 

‘NUcrTcs 

31453 

3S"i 

34'. 

35W 

• ’i 

NAAedEnt 



14*. 

I4W 



IBTA 

H-t Mr.' 

69'.. 

an- 

69 V. 

- 1'. 

FordAAs 

H/ il'.V 

7B'/i 

27"; 

TT* 

-V« 

Merck 


JSAt 

35 

35V. 

— "1 

SiorTch 

20146 

30 

28*. 

23V, 

— J'i 

Gnlnsd s 

19327 

39-', 


28A, 

— t.* a 

AAolorlas 

18819 

S3'. 

51V, 

53 

-1 

PnllAAr 

18401 

60 Vj 

S9+, 

S9 7 « 

—49 


AMEX Stock Index 


Kph Low Lost Cns. 
45661 45554 43658 *0.18 


Dec 9129 9332 ns -1M 

Mar 9230 9231 9232 — 032 

JST 91.71 97.64 9136 -031 

Sep 9139 9131 91S —031 

Dec 9038 9039 90.90 -032 

Mar 9075 9048 9058 — 001 

JOB 9060 9053 9654 -OBJ 

Sep 9051 9045 9046 + 0.01 

Dec 90.49 -WOA 9038 + 032 

Mar 9037 9033 9036 + 033 

Jen 9634 ma> job +<lo 7 

Sen 9034 9030 9032 + 034 

Est. volume; 48389. Osen lot.: 487381. 
34AONTH EURODOLLARS ILIFFE) 

31 million- pH OMOOpCi 


Dec 30583 29910 »9t0 -603 

Mar N.T. N.T. , 30205 -603 ; 

Ed. volume: 16310. Open lot.: S336I. 

CAC 40 (MATIF) j 

FFMI per index point _ ' 

Sea 189230 1863.00 187630 -Z740 ! 

0<t 189930 1871 JO 188459 -2730 

NOV 190550 1B8330 18*40 -»30 

Dec 191730 189150 1*050 -2750 

Mar 194100 192250 19»40 -27.50 

JOB 193330 191230 191930 - 2830 

Ed. volume: 62317. Open Int.: 72.967. 
Sources: Motif, Associated Press. 
Leaden Ml Financial Futures Exefianae, 

inrt Rvtrokrurn Exchmm. 


UiTWUiVllM Wtuu uwn j,. 

The department said most of the change came from an. addi- 
tional S3.9 billion in inventory investment, primarily cattle. The 

> . .t i $1nniActtr rtfAn- 


llUUflJ iPJ .7 UUUVU m BMTWU 6 U * J iMiwie-j- 7 r V 

second-quarter growth was the largest since gross dome^c prod- 
uct increased 63 percent in the last three months of l 993- The 
economy grew at a 3 3 percent rate in the first quarter this year. 
Analysts said they expected production to slow in the second half 
of the year as companies try to work down inventory buildup. ; 

The Labor Department said the number of Americans filing first- 
time eh™* for unemployment benefits fell an unexpectedly sbsrp 
1 1,000 last week, pushing claims to their lowest level this year. The 
Commerce Department also reported that sales of new homes rose 
9.7 percent in August, the biggest jump in nearly a year. 

Fox’s Programming Chief Leaves 

LOS ANGELES (LAT) — Fox Broadcasting Co.’s failure to 
turn its billion- dollar investment in National Football League 
coverage into a Sunday night ratings bonanza has claimed its first 
victim: Sandy Grushow, the network’s progr ammin g chief, has 
left the company. . 

Mr. Grushow’ s departure, which had been rumored, underscores 
Rupert Murdoch’s idiosyncratic management style that has led to 


Dec 

K.T. 

N.T. 

9*07 

Mor 

N.T. 

N.T. 

9170 

Jon 

N.T. 

N.T. 

93X0 

Sea 

N.T. 

N.T. 

9301 


Dividends 


Dow Jones Bond Averages 


20 Bonds 
10 utlinias 
10 Industrials 


NASDAQ Most Actives 


NYSE Diary 


MARKETS: Rates Chill Stocks 


Continued from Page 13 
will push interest rates higher, 
slowing the economy and crimp- 
ing corporate earnings. 

'Falling prices Tor transporta- 
tion, telephone, auto, drug and 
financial stocks swamped 
smaller gains in computer, elec- 
tric utility and hotel issues. 

“Stocks are reacting to fears 
that the economy is overheat- 
ing.” said Tracy Herrick, chief 


32%, even though S.G. Warburg 
cut its 1994 earnings estimates 
on Wednesday, citing soft do- 
mestic sales of personal com- 
puters. 


intd 
Paco a 
ll Hull hit 

Exabyte 
MK Rail 
Sybase s 
NerlcICm 
US Him* 
Lotus 

ArtdMts 

MicroPro 

MCI 

WoUfln 

ArticsffS 

Nowell 


High 

Law 

Last 

Cho- 

*1 Vi 

40 

41V. 

♦ W 

25'-. 

3T^ 

25V. 

- 1", 

26 V. 

25V. 

257. 

— '. 

21'. 

19", 

21V. 

♦ IV. 

11'., 

B'.j 

9V-< 

— JV. 

47+. 

JS 

45H 

—IV. 

21V, 

?OV. 

21". 

♦ '/I, 

47 

43'. 



34 V. 

34", 

369, 

-2 

47 

4S 1 - 

Jjv. 

. '/j 


v„ 

Vs 

— '.'a 

241. 

231. 

2*v. 

♦ V'r. 

30'. 

I9v« 

19V. 

—V. 

57". 

56V. 

54 v ; 

— V. 

IS 

14V. 

14*. 

— *» 


Advanced 

Declined 

Uncnoraea 
Total issues 
New H lot's 
New LOWS 


874 1401 

1267 806 

770 661 

7861 2868 

43 52 

94 78 


AMEX Diary 


Advanced 
Declined 
Unchanged 
Total issues 
NewHtohs 
New Laws 


254 298 

299 250 

255 773 

BOO 821 

9 16 

32 18 


AMEX Most Actives 


Blockbuster Entertainment 
fell ft, to 27%, after stockhold- 
ers approved its takeover by 
Viacom, valued at S30 per 
share. 


U.S. Stocks 


investment strategist at Jefferies 
& Co. in Palo Alio, California. 


The Dow Jones industrial av- 
erage closed down 2335 points, 
at 3.854.63. 

Declining issues led advanc- 
ers by 3 to 2 on the New York 
Stock Exchange. Volume was 
302.1 million shares. 

The yield on the benchmark 
30-year Treasury bond jumped 
to 7.84 percent from 7JS1 per- 
cent on Wednesday as the price 
declined 10/32 to % 2/32. 

The Dow Jones transporta- 
tion average tumbled 19.32 
points to 1.483.54. its lowest 
since Feb. 23, 1993. 


Airline stocks fell, with 
USAir Group, down 1, at 4, 
after it suspended dividend 
payments on its preferred stock. 
UAL, parent of United Airlines 
dropped 3%, to 87'4, after Salo- 
mon Brothers lowered the air- 
line stock to hold from buv. 



VOL 

High 

Low 

Lost 

Chfl- 

Viocri wi 

90543 

!'•; 

1><i 

Lu 

— 

VkKB 

*6321 

19V. 

38' -a 

38V. 


Alori 

11140 

7V. 

6". 

7 

— i 1 ’! 

Viacmrt 

4001 

3"/w 

3V. 

3*. 

— 1 Vii 

EdnBav 

6321 

14 

13V. 

13". 


NY Tint 

6113 

22'e 

2P4 

219. 

— '/d 

TWA vlB 

5568 

I'. 

2'. 

29. 


Grevu* 

4937 

27-n 

2 

2"» 


AExol 

4380 

1V4 

1', 

IV. 

+ ,, i» 

woe wre 

4347 


2I'.’„ 

71. 

— 'iB 


NASDAQ Diary 


advanced 
Declined 
Un&ianBed 
Total issues 
New Highs 
New Laws 


1478 1746 

1673 1401 

1939 1942 

«m 5089 
94 83 

61 57 


Est. volume: 0. Open hit.: 1872. 

3-MONTH EUROMARKS (UFFE) 

DM1 million -pis Of IN PQ 
DOC 9473 9468 9468 — 036 

Mar 94M 9428 9428 —006 

Jon 93.93 9108 9108 — 0X6 

SOP 9358 9353 9154 — 005 

Dec 9332 9335 9126 —0X5 

Mar 93.11 9105 93X5 — 0XS 

Jan 9250 9236 9235 — 0X4 

SOP 9272 9272 9268 — 0X4 

Dec 9256 9252 9252 —0X4 

Mar 9243 9243 9241 —0X3 

Jun 9229 9229 «22B — 0X2 

SCP 92.16 92.17 92.16 —0X2 

Est volume: 74340. Open Inf.: 690.158. 
3-AAONTH PIBOR (MATIF) 

FF5 roUfion - ptsof IN pet 
Dec 94.13 94X6 94X8 —03)3 

Mar 9368 9361 9362 —003 

Jun 9357 9351 9352 —003 

Sea 9193 92X7 9290 —002 

Dec 9263 9260 9261 —0X2 

Mar 9243 9240 9241 — 0X1 

Jan 9225 9221 9222 —0X1 

S«P 9112 9200 92X9 — 0X1 

Est. volume: 37X55. Open inr.: 167317. 
LONG GILT (UFFE) 

ERM00 - pts & 32nds of IN pci 
Dec 99-31 FMJ7 99-14 - 0-11 

Mar N.T. N.T. 98-26 -0-11 

I Est volume: 55X21. Open lot.: 99415 
GERMAN GOVERNMENT BUND (LIFFEJ 
< dm 250X00 - pn of in ad 
D« B9J9 09.12 99.18 -059 

Ksr KLS6 8858 8848 — 040 

Est. volume: T7*978. Open Int: 147681. 
ID-YEAR FRENCH GOV. BONDS (MATIF) 
FF5HU0S - PtS Of H» PCt 


Company Per Amt Rcc Pay 

IRREGULAR 

Banco Bilbao Viz c 5926 10-7 11-1 

Burnham Fund A - .18 9-30 10-10 

Enterprise Oil PLC c 5779 10-6 11-8 

North Fort Bncp - .10 10-Z7 11-15 

c-aoarax amount per ADR. 

STOCK 

Arrow Find - 4% 10-n IW 

INCREASED 

Hertwllfe inti O 52 10-27 114 

Petrol Hflilcirtrs - X2 10-14 10-28 

REGULAR 


Alliance Wld Dir 
Alliance widli 
Am Adi Rl Term 95 
Am Adi Rt Term 96 
Am Adi Ri Term 97 


M .14 10-7 10-21 
M .1186 10-7 10-21 


M 42 10-7 I0-2S 
M .03 10-7 10-26 


Rupert Murdodi’s idiosyncratic management style that has led to 
the resignations of several high-ranking. Fox executives since he 
became more involved with the studio's affairs several years ago. 
Mr. Murdoch controls News Corp., Fox’s parent company. 


Am Adi Rt Term 98 
Am Adi Rt Term 99 
Am Gov Inca 
Am Gov Port 
Am Gov Term 
Am Gov Mum Inco 
Am Muni Term 
Am Mun Term 11 
AmMun Term 111 
Am Opporl men 
Am Set Port 
Am Strotinco Port 
AmSIral Inco II 
Am strut Inco III 
Americas IneoTr 
CBS Find 

Central Hudson 
Charter Povw 
Fst United Coro 
Horace Corn 
HlBhlonder Inco 
H Ingham Svss 
interWest SvpsBk 
Moraate Indust 
Melrooolfan Fin 
Minn Muni inco Pi 
Minn Muni Inca It 
Mlm Muril Term 
NIPSCO ind 
Patriot GO, Dv 
PubS vc Colorado 
Ravole Inv 
Western Mno ADR 



111X4 

11092 

11098 


110X0 

11030 

110.14 


109X6 

109X6 

109X2 

Sep 

N.T. 

N.T. 

N.T. 


Est. volume: 122307. Open tnt.: 129397. 


Spot Commodities 


Market Sales 


NYSE 
Amoy 
Nasdca 
In millions. 


Commodity Today 

Aluminum, lb 0724 

Cooper electrolytic, lb 1X2 

Iran FOB. tan 213.30 

Lead, lb 040 

Sliver, tray at 5L99 

Steel (scrap). ton . 110.17 

Tin lb NJL 

Zinc, lb 05109 


Industrials 


High Low Lost Settle OToe 
GASOIL (IPE) 

UXL dorian per metric foo+ot* of IN tans 
Oct 15375 15155 15250 15250 + 250 

Nov 15655 15375 15575 155.75 + 355 

Doc 15975 15675 15875 ISAM 4-375 

J«l 160.75 15875 16075 16075 + 350 

Feb 161X0 15875 161X0 161X0 +100 


M X375 10-7 10-26 
M .04 10-7 10-26 


M .1)425 10-7 10-26 
M X64 10-7 10-26 


Chiysler Will Spend and Slay Solo 


M X8 10-7 10-26 
M .065 10-7 10-26 


M X725 10-7 10-26 
M 7542 !«-/ 10-26 


M X517 10-7 10-26 
M X475 10-7 10-26 


M X93 10-7 10-26 
M .125 ID-7 10-26 


M .1125 10-7 10-26 
M Mi 10-7 10-26 


c -approx amount per share. 


M .106 10-7 10-26 
. .875 10-14 10-31 
Q 52 10-11 11-1 

O XZ75 10-10 10-21 
O .13 10-21 11-1 
Q 05 10-14 11-15 
M .116 10-7 10-36 
. X4 KM1 10-21 
O X75 10-7 10-14 

. XI 25 10-14 11-15 
a 70 10-17 10-31 
M X69 10-7 10-26 
M X492 1 0-7 1 0-26 

M jflSOP 10-7 IfrSi 
O J6 15+31 11-18 
M .1031 10-12 10-26 
a jo 10-14 n-i 

O 7125 9-30 10-17 
C .118 10-6 11-10 


SIENA, Italy (Combined Dispatches) — Top executives 4 't 
Chrysler Corp. said Thursday the company would not make any 
major acquisitions or substantial investments in joint ventures 
between 1995 and 1999. as the company begins a plan to spend 
more than $20 billion, mostly on new vehicle products. 

Company executives, during a two-day seminar in Italy, out- 
lined the company’s plans and said Chiysler had identified 58 
billion in costs that can be taken out of its overall operations. * 

(Bloomberg, Reuters) 


a-mauel; 9+antUe m Canadian funds: m- 

moafhly; o-auartertr; D-semfonuaJ 


Guber Steps Down at Sony Kctures ; 

CULVER CITY. California (A F) — Sony Pictures Entertain- 
ment announced Thursday that Peter Guber has resigned as 
chairman, ending a five-year tenure filled with far more bombs 
than hits. ? 

The free-spending producer presided over the box office catas- 
trophes “Last Action Hero,” “Lost in Yonkers," ‘Til Do Any- 
thing" and “Geronimo: An American. Legend.” He will become 
an independent producer on the Sony lot. ,* 


Anheuser-Busch dropped 114. 
to 52, when the beer and snack- 
food maker was cut to neutral 
from above average at Merrill 
Lynch & Co. because of concern 
that unexpectedly low beer sales 
will hamper earnings. 


Traffic Gains Help Alitalia Cut Loss French Developer Under Investigation 


* 


Compaq led the action on the 
NYSE and dosed higher, at 


Alcoa Aluminum fell PA, to 
85?S, General Motors declined 
%, to 46%. and International 
Paper fell ft. to 78ft. These are 
among the companies that 
could be expected to suffer if 
rising interest rales cut into 
consumer purchases. 


(AP, Bloomberg Reuters) 


Bloomberg Business .Vthj 

ROME — The Italian na- 
tional airline Alitalia SpA said 
it sustained a first-half loss and 
that the cost of layoffs was the 
biggest factor, but it said that 
operating performance had im- 
proved and traffic had grown. 

The consolidated net loss in 
the first half totaled 197 billion 
lire ($126.8 million), narrowed 
from a loss of 218 billion lire in 
the like period a year ago. 


But the most recent loss in- 
cluded 45 billion lire of one- 
time charges for layoffs, while 
the year-ago figure included 
112 billion lire of one-time 
gains from selling aircraft. 

The airline’s revenue rose 
12.7 percent, to 3.09 trillion lire. 

Profit before writedowns, fi- 
nancing charges, taxes and one- 
time charges was 115 billion 
lire, compared with a loss of 87 
billion lire a year ago. 


Roberto Schisano. managing 
director, cited “a significant in- 
crease in traffic carried, gener- 
ated by higher load factor cou- 
pled with a visible reduction of 
costs and expenses.” 


“These first positive signs are 
the best incentive to push on . 
with the implementation of the 
restructuring plan which should 
lead us to complete recovery,” 
said President Renato Riverso. 


Reuter} 

PARIS — The chairman of France's third- 
largest real estate developer, Compagnie 
Generale de Developpement Immobilier SA 
was placed under judicial investigation 
Thursday Tor “aggravated influence ped- 
dling" in a political corruption scandal, jus- 
tice sources said. 

iyiichel Mauer was the. latest casualty in a 
widening probe into kickbacks and illicit 
campaign funding, which began with the for- 
merly ruling Socialist Party and has spread to 


the center-right coalition now in power. 

Later in the day, Cogedim announced in 
Paris that it suffered a loss of 403 million 
francs ($76 million) for the year’s first "half, 
against a loss of 584 mi 11 ion francs in the same 
period last year. The latest loss includes 244 
million francs in provisions for bad debt. 


Mr. Mauer was arrested .on Tuesday :and 
questioned for 48 hours about bis financial 
links with the Socialists and Industry Minis- 
ter Gtrard Longuet's Republican Party. 


WORLD STOCK MARKETS 


U.S. FUTURES 


Via A woci c»6d F*nm 


Amsterdam 


ABN Amro Hid 5840 58.10 
ACF Hokfino 3830 38J0 


AU6NDM 

AMEV 


Helsinki 


Amer-YMvmo 

Erno-Gubelt 

Mufitomaki 

K.O-P- 

Kvmmanc 

Metro 

Nokia 

Panlola 

Rcoota 

Stockmann 


106 106 
45.90 45.70 

144 144 

9x0 10.10 

135 135 

145 150 

565 570 

64 Jfl 64 JO 
102 IN 
245 243 


1 ,,kls3 


Hong Kong 




Montreal 

AlCOLId I 13* 


Book Montreal 
BCE Motrile Con 
Can Tire A 

can utu a 

Cascadea 
Crown* Inc 
CT FlnT Svc 
Gaz Metro 
GlWestUteco 
Hees inn Ben 


13*t 13*9 
24 24 

39* 38* 
II*. 11L. 
23 U 231k 
819 B6k 
17YS 16~4 
1731. 17* 
122k 12*11 
20’A 20 

13'A 133k 


Hudson's Bar Co 78** 28'* 


investors Grn inc 16*k 17'i 


La bait iJoftnl 
Lob low Cos 
Mai son A 
nail BkCanoda 
Oshawa A 
Panedn PofrtHm 
Power Cor* 
Power Flirt 
Qucbecor B 


21Va 21Vk 
219k 22 


Shell Cdo A 
Soutnom inc 
Stelco A 
Triton Ffrrt A 


ifnsseas^m^ 


Madrid 


BBV 3185 3230 

Bco central Hhp. atw 2925 
Banco Santander 5000 5140 


Banesto 
CEPSA 
Drooodos 
Enaesa 
Ercm 

™ , Ibentrolg 

s 5"W 

^ ( Tabacolem 
Telefonica 


■30 Stock ExdMnae 1 
| Pnmous : 390X5 


1035 1030 
3205 3225 
TOO 1970 
5500 5590 
106 170 

81? 832 
3920 3950 
3120 3200 
1740 1740 
Index: 298J0 


Stockholm 


AGA 

68 

48 

n AsecA 

539 

560 

Astra A 

100 

ISO 

t Atlas Copco 

95 

96 

6 Electrolux B 

355 

363 

* Ericsson 

400 

406 

a Esseite-A 

94 

94 

X Handelsbanken 

87X0 09X0 

. Investor B 

173 

174 

U Norsk Hvdro 

249 

247 

i5 Procardia AF 

732 

735 

Sandvlk B 

m 

113 

SCA-A 

119 

118 

S-E Banken 

45X0 46X0 

5k and la F 

12S 

127 

Skamka 

147 

150 

SKF 

130 

131 

Store 

429 

429 

Trelleboru BF 

102 

101 

Volvo BF 

137 

140 


Sydney 

Amcor 

ANZ 

BHP 1 

Boral 

Bousoinvllle 
Cotes Myer 

Comal co 

CRA 

CSR 

Fosters Brew 
Goodman Flda 
ICl Australia 1 

Magellan 

Ml M 

Nat Aust Bank 1 
News Cora 
NlneNerwortc 
N Broken Hill 
PacDunlon 
Pioneer Intt 3 


8.96 884 
195 191 
19.711 19.56 
340 3-33 
1.02 IJK 

4.15 413 
SM 5J1 

19 18X2 
454 450 

1.15 1.13 

128 1X9 

1074 1190 
1X5 1X5 
2.7" 2X2 
10-38 1076 
8X0 BJ7 
4.17 4X5 
175 161 
414 410 
3J8 124 


Nmndy Poseidon 163 2X2 
QCT Resources 140 1-39 


Santos 

TNT 

Western Minina 


185 180 
24® 7J5 
7.90 7X4 


West poc Bank) no 423 4.16 


WMdSlde 490 454 

All Ordinaries Index: 2830X0 
Previous : 2B14JS 


Blue Circle 
BOC Group 


Sao Paulo 

Banco da BraaO 19 19 

Bonespo ?40 925 

Bradesco &15 870 

Qratimo S7^fi m 

CetnlB 92 89 

Eletnooras 366357.9? 

iiaubenco 277 275 

Light 328318X1 

Paranapanetna 12X0 13 

PetTutoroj 168 157 


Sauza Cruz 7300 7450 

Telebm 53 51X0 

TetoiB 455 655 

LjBmtnos 143 141 

Vale Ria Dece 176167X9 
VartB NJL 165 

BavNNU Mex : 5442* 
Previous : SzTTS 


Seasa 

tfWI 

Season 

Low Open h60i 

LOW 

Close 

aw 

OP.Irt 


Grains 




WHEAT ICBOT) SMDiinwynium-UdnvspvrMiW 




109 DeeW 187", 389", 

las 

ajMV,-090Vi 47,941 

*04", 

3X7 Mar95 194", 197V. 

193". 

197 V. -090/, 1*928 

3.93 

H6",AAav95 183 3X4 

180', 

183 

-091V, 

2X41 

3x» 

111 -W95 153', 3X3', 

150V, 

153 

—091V, 

5.289 

3X5 

151 Vr Sep 95 3X5", 156V. 

3X5", 

3X6Vv— 

116 

3.75 

3X5 Dec 95 


3ASv,-ojxr„ 

B4 

3J4"i 

3X4 jm»6 


150 

-0JE", 

3 

EsLiaies leJHO Wed’s.sates 18988 




wca’saeenlnt 75.121 uo 1» 









113 V) Dec 7* 1931, 195", 

193 

194V._a01<e 75X97 

407+1 

3X5 NUT9S 197+. 178V, 

176" 

3.9BVi-aOO", 11.930 

3.«6 

12IV,AAov95 183 185 

182". 

394 

—091*i 

993 

IST'i 

116V) Jut 95 157 158 

155", 

1X5W— 093 

2,185 

177 

3X9 Sep 95 


3J1 

— 092 

45 

165 

160", Dec 95 


163", -091 ", 

3 

Est. saws NA. Wed’S, soles 4.791 
Wed's seen Int 40.773 up U& 





CORN 

(CBOT) SJXUbummnwn-diAnpwDiiPiH 



177 

114V, Dec 94 2.14 7, 115 

114 

114". 

134X08 

592 Vi 

2J4H)AAnr« 2J4'X 2J4V4 

123". 

124W-QJ0". 4*127 

785 

2X2 AAavTS 2X2 2X1", 

131". 

2X2 V, 


18939 

2.85V. 

2X6WJUI95 2X6"i 2X7 

136", 

U7 


18.877 


1X9 Sep 95 140M 141 

140 VI 

240", 


7X30 


2X5WOec95 144*. 145 

144". 

144 V. 


7,i» 


ISOWAAarTB 


151 VI 

♦ 090% 

47 


lilteJUfW 


2X7 

♦ 090% 

64 

Est setes 23900 wed's Sates 29X00 




Wed's otin ini 227.946 up S323 





SOYBEANS ICBOT) MM»Durnlnfniwn-oaBarvpartajsfrei 



5X6V,N0«">4 5X7", 5X7 Vl 

143", 

143"»-0J>416 78JB2 | 


5X65. Jan 95 5-57 157 Vi 

5X3'/. 

5XIW— 0.O4W 31 J49 



543 V, 

144 

-094’', 12413 


ITIhMavM 5X4 174V, 

in 

171". 

-093% 

4X22 



177 

177'*. -093", 12931 


179 Aua95 590 590 

178", 

SJB'.I-OJM 

371 


5X7 5eo95 593", 593", 

181", 

5J1"i— 0JB2 

70 


5JBV:Nov95 S99W 192 

188 

LBS'A— 003 

*496 


6.10 Jul"6 


696V, -Ojn", 

8 

Esf.sate-. 25JMO Wed-s-Mtes 30X49 




I Wed'S open BO 135,553 141 1167 





SOYBEAN AAEAL (CBOT) iHKn-Mniw 

»on 




16*900094 14490 144X0 

14190 

islio 



164X0 Dec 94 14*10 144X0 

163X0 

163X0 

—1.40 44X11 


M*90Jan9S 144X0 14*30 

16*40 

144X0 

—190 11X29 

207 JO 

140X0 AAar 95 169X0 17000 

168X0 

148X0 

—140 UJ,785 


17100 AAav 95 17140 17180 

I7IJM 

171.10 

—1x0 

6JQ4 








175X0 Auo 95 175X0 17180 

174X3 

17*70 

-1X0 

40B 


17590 Sep 9S 174.90 174X0 

T7140 

17140 

— 1X0 

SM 


176X00095 177.00 I79JB 

17100 

17890 

-3X0 

10 







Est. soles 17900 wed’s, sates 13X92 









1 SOYBEAN OIL ICBOT) MUtoM-polianaa-llUln. 




21100094 2595 2598 

75X5 

21X6 

-0125 11903 


2290 Dec "4 24JB 24X8 

2*33 

24X4 

—0 28 3*770 1 


2145 Jen 95 2*24 3*26 

2496 

2*08 

— 0X3 

9,145 


22.73 Mar 95 2195 2197 

2177 

2170 

-0X2 

*955 




23X7 

-0.14 



2100 Jul 95 2148 23X5 

23X5 

2135 

-0.18 

*488 


2195 Aug 95 2145 2147 

2130 

2130 

-0.15 

4*3 


2195S*p95 23X5 21X5 

2120 

2123 

-0.15 

321 


21100095 2130 2135 

23.10 

2110 

-OXS 

226 


2290 Dec "5 2120 ZL2S 

2100 

2100 

— 0J0 

650 

Ed. soles 20900 wed's, sdes 18X35 




wed's ooen Int 82,717 up h» 






Season 

Season 






Hwb 

LOW 

Open 

HWK 

Low 

Close 

Qw Oo.litf 

12X0 

*.17 Mar ,5 

12-33 

12X8 

1233 

12X4 

10.17 99942 

12*5 

10X7 AAav 95 

12.35 

1154 

1735 

11X5 

iai6 i*«a 

12X2 

10.57 Jui *5 

12X4 

12X3 

12X4 

12*3 

>0.14 10^4 

I2X* 

10X7 Oa *5 

1241 

12.15 

1291 

12.15 

>09* 7.205 

1182 

(O.BBMar*fi 


11X0 

1144 

11.73 

<097 1985 

1140 

11 ISAAmn 




11X5 

<005 9 

1148 

71.70 JUI «4 

1140 

1140 

11.80 

1140 

<091 5 

Est. sates 77X80 Woo's, sates 18934 



Wed’s open ini l42J*i 

OH 

5554 




COCOA 

(NCSE) 1 5moirtc ipct nxi 



1580 

1041 Dec 94 

1343 

1349 

1331 

1341 


1605 

1077 Mtr *5 

1395 

7397 

1383 

1391 

16413 

1612 

1078 AAav 95 

1425 

1425 

1418 

IC3 

4477 

1400 

1225 Jui *5 




1451 

2480 

IM 

1447 Sep 95 




14TB 

1304 

1633 

1290 Dec 95 

1501 

7501 

1501 

1505 

*963 

1676 

1350 AAar 96 




1534 

3J94 

1642 

1225 May 94 




1547 

312 


Jui 9* 




1587 

11 


Est. sales 4016 Wee’s, stfes 9-322 
wed's wen int alt 4 82 

ORANGE JUICE (NCTN1 iMNM-etnsnel 
13400 BSXONovW 9170 99-90 9870 

132X0 89.00 Jan 95 10TX0 10175 101X0 

12425 93.00 Mor 95 10*90 1 0S-50 10440 

11475 97X0 Mav 95 10775 10150 107.75 

119-00 100-SaJul95 II IS) 111X5 111 JO 

U4X0 11 3.50 Sen 95 11*50 11450 11450 

113X0 1 69X0 MW 95 

111X0 105J0Jan«6 

Est. sales 3700 Werfs-soies 2X1! 

Wtd’s own int 23X65 uo 342 


♦ 1X5 9,651 
-1.10 6482 
♦0X0 4632 
HUS 1X42 
*865 

♦ IMS 168 

♦ 0.45 
+ 045 


Metals 


HI GRADE COPPER (NCMXJ m* to. 

117x0 75-73 Dec 94 717JJ 11745 11540 11415 

118J5) 7490Jan95 117.00 117X0 117X0 115N 

117X0 73X0 Feb 95 11S35 

117X0 73X0 Mar 95 116X0 U400 11450 11495 

115X0 7485MOV95 11425 11460 11340 11415 

11470 78.00 Jul 95 113X0 11340 11275 I13J5 

113X0 79. 10 Sep 9s 113X0 113.10 112.15 112*5 

12210 742000 9S 11840 11*40 117X0 117.40 

11*80 7775NOV95 11470 1I6JD 11470 11440 

115.75 18X0 Dec 95 11070 11140 11070 111.15 

1OBX0 8450 Jan 96 11045 

1 1030 62.70 Mar 94 10945 

11450 OLNAorM 11455 

109 JO 10820 May 9» 106X5 

11520 10410 Junto 11175 

JUI«» 10435 

112X5 I11404ug96 11290 

Esl. sales 12X00 WaTs. sales 12962 
Wed’s open ne 57,9*7 all 1072 
SILVER (NCMX) 1600 Iray ot-oetrspwiiwot 


— 7.W 42175 
—1X5 565 

— 1 x 0 «a 
—US 5X16 
—1X5 1^8 
—145 1X35 
—1.15 BID 
—2-00 2197 
—1.95 75* 

— 120 992 
-120 59 

-120 m 

— 1J0 583 
—120 50 

— IJ5 287 
—120 

-UO 57 


5*9X 511X0094 558X 55*0 558X 507 

Nov 9* 566X 

597 J 380XDKM 5640 571X S60X 548.5 

5745 401XJW19S 5710 5720 S69J 571.1 

#0*0 *14JMar9S 5740 57VO 5710 S77.I 

6041 41BXMOV95 312 S82X J77J WJ 

610.0 420XJUI95 J89X 590X 5852 5904 

603J 532J5a>9S S88X 5B8X 5880 S97J 

6240 5390 Dec 95 6050 605X 5982 6074 

6720 STSX Jan 94 471.7 

6320 554XMOTW 619X 

587X 587XMOV96 6348 

J496 6341 

Efi.scem 21000 wed's. sales 28440 
Wed’S open int 121.333 up 1421 
PLATINUM INMER) UmgL-ikAnwnvB 
43540 3*8X00094 41450 41950 417X0 419X9 

*35-50 37*80 Jon 9S *2250 42250 422X0 *73.50 

43900 390X0 Arc 95 42250 427 00 4250)0 42*70 

435X0 419J0JJ95 42400 426X0 430X0 

43*00 *22X000 95 435X0 435X0 435X0 432.90 

Est. sixes 5X3S Wed’S, soles 5X78 
Wed’s open Int 22JOO oft 626 
GOLD (NCMX) MOnwoz-aftrsiierlmraz. 

417.00 344X00094 39*70 39190 39*30 3KJ0 

Nov 9# 396X0 

426X0 343X0 Dec 94 398X0 399X0 377X0 39870 

41100 363X0 Feb95 «1.70 402J0 «IJ0 «2X0 

.17X0 36* 50 95 405X0-406X0 405X0 «55D 

478X0 361X0 Jun 9} 40*70 409X0 *0*70 409X0 

41450 380 50 Aug 95 411X0 411X0 411X0 41860 

*19X0 401X00095 416X0 

42J.C0 «10X0Dec95 420X0 420L7D 420X0 421« 

43*50 413J0 Fed «6 424.40 

43020 41*30 Aw 94 42*40 

431X0 41100 jun 96 432X0 

ESI. soles 35X00 Wed's, sales 46X74 
Wad’s open M 18*321 of) 376 


♦14 4 

♦15 

*15 91794 
♦3X 44 

-16 10X73 
*3A 4,53) 

♦ *1 17M 
*4J 1X09 
*4X 2,270 

♦ 4X I 

♦ *7 1X13 
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0X0 3.540 

♦ 1X0 15X73 

>1x0 2X84 
‘l.«3 474 

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♦ 080109.992 
♦0X0 19.737 
♦0X0 7x27 
*0X0 10X07 
*0X0 5X84 
*0.90 1,253 
+050 6.032 
*1.00 1X37 
*1X0 1X98 
*1X0 5X73 


Financial 


(1ST. BELLS (CMER1 si nUAow-e&M IMeef. 

96.10 MXSDCC94 94X7 94X7 94X1 94x3 —0X4 17X90 

9M5 9198 Mor vs 94J7 9*27 9*19 9*20 -0X7 8.971 

9*2* 93X7 Jun 9S 93X4 -0X8 2.3S4 

Esi. sales 3X06 Wed's, woes 3X91 


Wed’s men M 732\i up 305 
SYR. TREASURY (CBOT) iiaaigw.MsnMDllflH 
104-30 101-26 DOC 94102.155 102-11 107-00 102-055— II 101192 
103-09 101-23 Mar 45101-20 101-21 101-12 Uh-18— 10 1203 

Est. idea 41.2)0 Wed’s, sain 4J.693 
wed's ooen Int 189.392 ott JM 

19 YR. TREASURY ICBOT) slflOXHwUt-BisliNndsWHSBci 


COFFEE C (NOE) Pjan-wAiwO 
34*2S 77.10 Dec 94 Z14J0 71650 711.20 716.10 

*66 nn 78. 90 Mar 95 217.75 SO JO 215X0 Z19.9S 

24*40 82J0Mav9f 218X0 222X0 71700 271.15 

WJO 1500 Jut 95 219X0 220X0 217X0 72U5 

nig lliSOSenK 22008 230X0 23000 221 50 
943x0 01X0 Dee 95 230 JO 222X5 220X0 222.75 

Eftiw 9,110 Wed’s, sales 10.108 
Wed'S ooen irt J7.770 w )*2 
SUCAR -WORLD II (NC9S HMMIIL-CBnRre 

4X9009* 12X5 12X3 »45 1169 


115- 01 99-12 Sep 91 99X2— 10 2 

114- 21 100.25 Dec 9* 101-22 101-14 101-42 101-10— 13 24X365 

111 - 07 100-05 Mar 95100-30 100-30 100-10 100-17— 11 4T59 

105-22 99-20 Jun9J 99-20 . 99-25 99-1? W-2S — 10 116 

110-31 9MI1 Dec 95 96-17— 10 1 

EsLsdes 88X00 Wed’s. sales BL75S 

Wed's open irt 295X33 UP 4075 

US TRSASURY BONDS ICBOT) apaiiOOJXXMMalXMiWIBOKn 
118-08 71-19 Dec W 99-04 99-10 96-11 96-22— II 79*650 

116- 10 97-51 M0-959&-1J 96-20 97-23 0B-DO - 15 24,930 

115- 19 97-10 J019S 97-16 97-16 97-02 97-11 — H I0L7S4 

112- 15 97-05 SB793 96-27 *6-27 94-W 94-23 — I* 233 

113- 14 9644 Dec?S 96-00 *6-04 96-00 96-04 — 14 126 

114- 06 «»-]« Nhr 96 95-17 95-19 *5-17 99-19 — U 44 

100-W *5-77 jUiPB M-W— W 25 


IflO-JB 95-77 JU 1 P 8 ff-W— 14 25 

Est. sates 4*0.008 WetTAtetof 419X89 

♦ 1X0 21X97 Wed’S ooen Int 465X3S uo 9028 

♦ 1X5 9,205 MUNICIPAL BONDS (CBOT) 1100 a* rwcx -en- ».»•»<* X- 0 pa 

-1.95 3X07 91-17 87-40 DK94 87-29 18-03 07-10 87-18 — 08 18X00 

♦ 7.15 1,165 88-09 36-06 MarMle-ll 86-31 86-11 86-16 — 00 116 

•!■» HI fsf.sate 3,700 Wed's. sales 3X87 

*1X5 675 Wed'teeenlnr 18X58 <& 357 

EURODOLLARS (CMSR) SI irtltoB^o* IDUua. _ 

95.100 #0710 Dec 94 94.130 9*110 WJttl 9*080 . -50525X08 

9SJM 90J40 Mar 9s 9X740 91370 91650 93X80 -80408 JS6 

•0.18 7X8* 94730 90. 710 Jun 9S jnjnn 91*0 9X230 91200 — ^ 110289X8$ 


Commodity Indexes 

McocJv*s 19 w 5? 

Reutera IaS* 

DJ.Fuivra 

Com. Research Sr:? 





% 






















INTERNATIONAL HERALD TRIBUNE, FRIDAY, SEPTEMBER 30, 1994 


Page 15 







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Anwricno Samoa 
AnKgup [dMfeawd Ohanrt) 
ArUfloa (pay phon«| 
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China (CtfOiU +/ 

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633,1000 

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Guam 

Guaremaia + 
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Hang Kong 
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Hungary *J 

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India + 

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Iraland + 

Imel + 

Holy 9 

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080-900-01 

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1-800-55-9001 

177.102.2727 

172-1877 

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Japai (5X3 (EngUi) + 

Japan (KEO| (Eng Ed-} + 

Japan (J^wmal + 

So**/ 

Korea (Dasom} 9 

Korea (KT) 

Ku+ait 

Lhrtdanrtoin + 

LMiaanta / 
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Macao o 
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M«ucs + 

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Mert. Airtllei 

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Saudi Arabia 
Singapore 4 
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Spain 

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Page 16 


INTERNATIONAL 



TRIBUNE, FRIDAY, SEPTEMBER 



HA FUND MANAGEMENT! LTD 

La<vilte Ha Hamilton, HMll Btnrnida 
t* Aloha Asia Hedoe (Sen Zl I j Mtt» 

n Aloha Eurooe Fd I Aug 3lj_Ecu 
m Aloha Futures Fff (Aug 31 ) J 
fliAMn GIM Pro Trad Aug 31 S 
m Alpha Global Fa (Aug aft _s 
mAlotn hcb Fd Cl A/Aug 31 _1 
m Along Hdg Foci B/Aug J)_s 

m Atone HOT Fd Cl C/Aug 3I_S 

mAipno Jwwn Spec (Apr 30) j 
A) Alpha Lalln Airier (Aug 31)8 
m Along Pacific Fa (Aug 311 -S 

m Aloha SAM S 

m Alpha Sheri Fd I Aug 21) S 

ai Anna siit- T Fix Inc/Aua lift 
m Alpha Tllldato Fd (Jill 311-41 
pi A lohq Worthington ( Jul 31 
w aco/Aipna GIH _ 

co/Aloha Mkt Ntrl Aug jis 
mBuch-Aluha EurHdu Aua 31 Ecu 
reseat Aston Hedge Aua 31S 
m Global vest value (Aua 31) _* 

1* Newel Japan Fund ,1 

mHemisonere Neuirai Aug 31s 
m Lalln vm value (Aug 3<J _S 
mNiaiAopi Aurelia lAugll) j 
m Poet I RIM OOP BVi Sea I9_S 
mdlngoen I nr I Fund/ Aug 31 _S 
mScge inn FdlAugJI) 
mSaiuS Inti Fd l Aug 31) 

ACRAL ASSOCIATES LTD 
wArrgf American Quant Ffl.j 

wArroi Allan Fund 

wArroi inri Hedge Fund 
ATLAS CAPITAL MA 
w Atlas CMbal Fa 

bail 12 Place veodome, tsni Paris 
m intermorkc! Fund 
i inierolii Convert Bds 

I I IMerplll Inti B05 
r interatti OM Convertibles-! 
l merman ei Multicurrency Fund 

lass a FF 

lag b I 72LM 

K BRUSSELS LAMBERT (334) 5(7 

ff BBL Invest America S 419.16 

d BBL Invest Belgium 
a BBL invest For East 
d BBL Invest Asia 
d BBL invest Lotin Amor 
ff BBL invest UK 
d BBL IL) InvGatanUnes 
a BBL id invest Eureae 

tf BBL ILI invest World _LF 

d BBL 1 FI invest Franco 

BL Renia Fd mil LF 

BL IF' Renlafund FRF FF 

BL Polrlmonlol Bol LF 

onto Cash S-Medlum BEF BF 
d Renta cash s-Meowm demdm 
d Remo Cosh S-Madtom usd s J03325 
BANQUE BELGE ASSET MGMT FUND 
snore Distributor Guernsey oat 72641* 
iv Ir.M Eoultv Fund 
■v Int'i Bond Fund 
>• Dollar Zone Bd Fd 
»Asm Pocilic Ration Fd 

iv India Fund 

■r Sierhna Eoultv Pd 

iv sterling Bd Fa 

BANQUE 1NDQSUEZ 

w The Dragon Fund Skxrv S 

m Japan Cid Fd A (31/08/94i_j 
m Jaaan Gtd Fd B !31/O0/M)_S 
itiDuai Futures Fd a A Units S 
mDuai Futures Fd a CUniNA 
m Maximo Fui. Fd Ser. 1 Cl. a s 
m Maxima Fut. Fd Ser. 1 Cl. BS 
mMo'ima Fut. Fd Ser. 2 a. c S 
m Maxima Fid. Fd Ser. 2 a. ds 

mindosuez Cutr.CI A Units S 

m I ndosue: Curr. Cl B Unlts_s 

wlPNA-3 

d ISA Astoi Growth Fund 
d ISA Japan Res. Growth FtLY 
d ISA Pacific Gold Fund__j 
d isa Aslan income Fund 
d 1 ndosue: Korea Fund 
wSnonanoi Fund 
iv Himolavan Fund 

1* Manila Fund 

p Malacca Fund 

iv Slam Fund , 

d indosuei Hong Kong Funq_j 
d Slogan a Malay Trust 
d PocHic Trust. 
d Tasman Fund 
d Japan Fund 

w Managed Trust 

d Gorhnore Japan Warrant _S 
w 1 ndosue: Hlgn v Id Bd Fd A3 
w 1 ndosue: High Yld Bd Fd BJ 97 68 

a Maxi Emma Ptav 9075880 

b Maxi France FF 

w Maxi France 9S __.ff 

d Mdasuez Later America 5 

w Indasuez Multimedia Fd 
BANQUE SCAHOINAVE 
i> fntelbcnc 
w imelsec Chf 
m Swisitund ait 
BANQUE 5CSALLIA 
(4122) 346-1261 

w Plelade Norm Am Equities 3 

iv Pie lode Europe Eoulnes Ecu 

w Plelade Asia Pacific Eg — S 

rv PJeiode Envlronmem Eq 5 

w Plelade Dollar Bends 
wPteiode ECU Bonds 
w Plelade FF Benas- 
w Plelade Euro Conv Bands 
» Plelade Dollar Reserve 
1* Plelade ECU Reserve 
w Plelade 

w Plelade FF Reserve . 

BARCLAYS INTL FUND MANAGERS 
Hons Kong. Tel: (BS2) 01900 
d Oilno (PRC) 
d Hong Kang 

S Indonesia 
Japan 
d Korea 
d Malaysia 
a Phil loci 
d Singapore 
d Thai land.. 

Scum East Asia 
PARING INTL FD MA 
(MB RECOGNIZED) 

IFSC HSE.Custom Use DodwJJub. 44714284000 

w High Yield Banff — _* 933 

w World Bond FFR FF 53. N 

S IARING INTL FD MHGRS (IRELAND) LTD 
NON SIB RECOGNIZED) 

w Austral la S 26.12 

nr Japan Tecftnotogv S 66JR 

■v joikxi Fund . s 2AM 

w Japan New Generation S 2ZJ8 

w Matavsln & Slngauore S 133A6 

■v Ucrtn America S 26S2 

tv OctODUS Fund S 44J9 

nr Paettlc Fund- - .9 II7J4 

w Inter national Bond * 17-70 

w Europa Fund — 1 I7J1 

U. w«nn » >.M e 112.76 

<h Trisiar Warrtxit 1 36JI 

«■ Giasaf Emerging Mkfs___s I6J0 

w Latin America— S 17.15 

«v Currency Fund . .j; 1657 

it Currency Fund Mqnooed—S SlJI 

•v Vorra Fund s 10M 

wDariM EmeraWofUFO S UK6 

BDD GROUP OF FUNDS 

1* 3DD USSCosn Fund s 511695 

n BDD Ecu Caw Fund Ecu 6197J3 

W BDD LwtU Franc Cash SF 51M.9I 

•* ODD In! Bond Fund-USS S 5141 J8 

p BDD ml Band Fund-Ecu Ecu 6M4A1 

■v BDD N American Eoultv Fas 
iv BDD European Eoultv Fund Ecu 
mBDD BsJon Eoultv Fund — s 
mBDD US Small Cop Fung 

nr.CD Japan 1 

mp.3D Emerging Mxts Fa — s 

*• Enrol munocr* Fixed Inc FF 

H E wniui MullLCv Bd Fd .FF 

BE LINVEST MGMT (OSY) LTD 

n Bel.r«5t-nra:ll S 137X47 

» Bclinvrs'-C-H»al — — .1 94132 

n SrUnvcst-'Sroel S 70*3* 

iv Eelinuest-Muitibond. 3 924.9ft 

a Pc 1 invent- Superior S 9049 

BNP LUXEMBOURG 
INTER CASH 

I Franc F BF FF 1SS35.14 

I Frsrer Securlto FF ISM659 

’ lifer Cash DM DM 270133 

■ Inter Cash Ecu. .... Ecu 194761 

! inter Cash GBP — ___C 150237 

f tr.ter Casnuw 3 125135 

/ i.tict Cccmm Y 145064 

INTEP MULTI INVESTMENT 
IV Privatisations mil Invest __S 1254124 

IV- Txlxcrm Invest - - * I014M 

INTEP OPTIMUM 

I* 'rrcrSend USD S MI2 09 

n BEF.-LUF BF 103313J10 

>» wiiiinne. 1 w r.*x njui 2900A5 

WUSD— - 1 1344.11 

» FRF FF 1479149 

«* ECU ECU 1 H5J4 

INTER STPATEGIE 

1* Arstrgne S 118735 

m France FF 10793.11 

I* Euroocdu Mnrn ,1 1219J4 

» f ureoe Cu Centro DM Z76&00 

n E L-rooe du jMJ Ecu 95534 

wJcrcn Y 115711 

iv Airier lore dv Ward I ISWffi 

w “-Hd-Esi Asioiloue .s IBJ4.45 

wGletfll — — S 35725 

BSS UNIVERSAL FUND SICAV 

0 E unset ECU A (Dtvi Ecu 136540 

a EUTOC ECU 0 (Cool Ecu 1J9.9M0 

a Inlelsee USD A toivl 1 21.9582 

9 imelsec USD B (Coo) 1 2X1962 

d Intelbcnd USD A (DM, — 5 15J>40 

d imeibore ? vsd B (Coo) 1 i9.«ao 

1? Fhinsee Global FM A (Dhrl fm 224J?bh 

e Fme»<C-IH)OIFMB(CaalFM 224.7837 

a imeioono frf aiDIvi ff im3369 

s ‘nie.bo ad frf 0 iCapf ff 1333102 

a Sc ’ best USD A (Dlv I 5 27JT79 

C Far East USO B (Coal S Z/JSIFb 

C Japan jpv A (D*v) y 1108.4919 

a Jsocn JPY B icon) Y 11064919 


d Parsec FRF B (Cap) FF 1 154422 

d Latin America USD A (Otv)l 773039 

d Lalln America USD b (Cgg)i Z73W? 

d Nann AmericoUSDA (DiviS iamu 

a North America USD B 

(Coal S 169614 

d Axin usn a tnivi * 1IL0730 

d Ajlg USD B (Cop) S 103730 

d vrorw USD A IDlvl x hlimi 

d World USD B (Cap) 1 10.1841 

BUCHANAN FUND LIMITED 
5% Bank ot Bermuda Ltd: (809) 2954800 

f Global Hedge USD„ j 1135 

I Gkjfeii Hed-je GBP 1 14#J 

f Global CHF SP 1* W 

1 European a Attonir .. .5 U.M 

I POdllC _S 14474 

r Emerging Morten 3 2542 

GAISSE CENTRALS DBS BANQUES POP. 

d Fructllux - QOL Fses A FF 8417^3 

d FructUin-ObLEvraB Ecu I49IB6 

•vFrvctihix -Actions F58SC-FF 8328.10 

d Fructnvc Actions Euro DvEcu 1 77X56 
d FntcTIKi*- Court Term* E-FF 871XW 

d Fruetlhnr ■ 0 More F dm imit 

CALLANDER 

w canenoer Enter. Growth —5 11029 

w CMlandcr F-Asset . .S 15230 

w Callander F^Mh-ian AS TI9637 

w Callander f-Spctush Pto B33X00 

wCtflgndfF-US Health Cores SH7 

w ca Hander Swus Growth SF 140.90 

CAMPBELL (BERMUDA) LTD 

wGIW inoKutknal (23 Sew u W37t 

CANADIAN INTERNATIONAL GROUP 

d Cl Canadian Growth Fd cs bjfl 

d ci North American Fd cs XD» 

d Cl Poddc Fund— CS 18J0 

oa Global Funa. CS 9re 

d ci Emery Muriels Fd CS 10.19 

d ci European Fund ,cs 1*5 

d Cnnodo Guar. Mortgoge FOCS 1X73 

CAPITAL INTERNATIONAL 

w caoltof Inn Fund S 134.16 

wCaoliol Holla SA S *627 

CDC INTERNATIONAL 

w CEP Court Terme FF 17B2KU19 

WGF1 Long Terme. ff tSiraaM 

CHEMICAL IRELAND FD ADM LTD 
S3-1M13CD 

rr Kona 2151 Century Invt s 1029 

wThe Yellow Sea Invt Co 1 103* 

CINDAM BRAZIL FUND 
d Clnaam Equity Fund— S 16JL75SO 

a cinaom Balanced Fund % ihlttm 

CITIBANK (LUXEMBOURO) SJL 
FOB 373 LuxemlMurg TeL 477 9S 71 

d at nvest Global Band 1 9740 

d at nve» FCP USD S 1223/8 

d ai nvest FGP ECU Ecu 1241 37 

d Cttinvts) Selector S 1477.86 

d aticumndes usd s iisxsr 

d ciHairrendesDEM dm 14435 

d aiteurrendes GBP c 14433 

<J CJNeurrendes Yen Y 12441 go 


d at mart UK Eautty — c 

d C it mart French Envrttv FF 

d Cltlport German Eaullv. — DM 

d aiBort Joptm Eamiv y 

d citiDort iapec 1 

a citlpan Earner J 

d CM toon NA s Band S 

d citiDort Euro Bond Ecu 

d Managed Currency Fima _s 

d indki Focus Funa S 

CITIBANK (PARIS) SJL 28/09/94 

d ail 96 COP G« s 

d ati Gtd Aslan Mkrs Fa s 

cititrust 

n> US S Equities 5 

■tUS S Monev Market — j 

W US S Bonos 1 

manperformonce PtH SA.„S 

w The Good Earth Fund J 

COMGB5T C3W) (479 75 10 

I CF.E. Larus Fund J 

•v Caimest Asia . 9 

wComoest Eurooe— SF 

CONCEPT FUND 

b wam Global Hedge Fa s 

a wam inti Bd Hedge fo s 

CONCERTO LIMITED 

w NAV 23 Seat 1994 S 

COWE N ASSET MANAGEMENT 
Coiwfl Enterprise Fund N.v. 

wCkmAShs s 

w class B 5hs s 

CRBDIS INVESTMENT FUNDS 
d a Portf Inc DM A DM 


d a Pont Inc DM A DM 

d CS Portf Inc DM B —DM 

d cs Portt Inc I Lire) A/B Ul 

d cs Pont tnc Sfr a sf 

d cs Port incSFn B SF 

d CS Pont inc U»a « 

d CSPnrtt ineUSSB S 

d CS Portt Bol DM . —DM 

d C5 Portt Bai (Lire) Ara ur 

d cs Pont Bol SFR— SF 

d CS Portf Bal 1156 * 

d CS Portt Growth DM -DM 

d CS Porlf Gro (Lire) A/B Ut 

d CS Portf Growth SFR SF 

d CS Portf Growth U5S 8 

d CS Mtnev Market Fd BEF J8F 

• a cs Money Market Fd cs cs 

d CS Money Market Fd DM — DM 
a CS Money Market Fd FF— FF 
d CS Money Market Fd Ecu_Ecu 
a cs Money Market Fd hfi_fi 

d CS Money Market Fd Lit LH 12550B450 

d CS Money Market Fd Pto Pfas 12B3FJW 

d CS Money Market FdSF— SF 

d cs Money Market Fd s s 

d cs «Mnev Market Fd Y«n_Y 

d CS Money Market Fd (. t 

d Credit S mlltMh) Cop SwMZISF 

d c radix Korea Fund S 

d CS Ea Fd Emerg Mkfs- S 

d CS Eq Fd Lat America % 

d CS Ea Fd Small Gao Eur DM 

d CS Eq Fd Small Cap Gev dm 

d CS Ea Fd Small Coo Jen Y 

d CS Ea Fd Small Cap USA— s 

d Credit Suisse Fds inti SF 

dcs Eure Blue CMm A DM 

d CS Euro Blue Chins B dm 

if CS France Funa A FF 

d CS France Fund B. — - .ff 

d C5 Germadr Fund A — .DM 

d CS Germany Fund B DM 


d CS Goto Mines A 

d CS Gold Mines B S 

8 CS Gold Valor 6 

CS Hlsoano Iberia Fd A Pto 

ff CS Htspono Iberia Fd B J»ta 

d CS Italy Fund A Ui 

d CS Italy Fund B — — Lit 

ff cs Jamal Me gatr en d SFR—SF 
ff CS Jomn Megotrend Yen _Y 

ff CS Netherlands Fd A— FL 

d CS Nefhertands Fd B FL 

d CS North- American A 5 

ff CS N artti- Amer Icon B. S 

ff CS Oeko-Prolec A --DM 

d CS Oeko-Pratec B DM 

ff CS Tiger Fund -.5 

0 CS UK Fund A C 

ff CS UK Fund B L 

ff Energie - Valor— SF 

ff Europe Valor ■— SF 

S Pacific - Valor — SF 

SchweiierokUen SF 

a Bond Valor D - Mark DM 

d Bond Valor Swt— SF 

d Band Valor us ■ Dollar s 

ff Bond Valor Yen Y 

tf Bond Valor c sterling t 

0 Convert Volar Swt ... SF 
ff Convert Volar US ■ Dollar _! 

3 Convert Valor tStertnai—i 
Credit Swha Fds Bds — . — SF 

ff CS Bond Fd Ure A/B ut 

a CS Bond Fd Pesetas A/B— Pta» 

a cs Capital dm 1997 dm 

ff CS Capita DM 2000 DM 

3 CS capital Ecu 2000 Ecu 

CS Corttol FF JMD_— -FF 

ff CS Capital SFR 3100 SF 

ff CS Ecu Bond A —Ecu 

ff CS Ecu Bond B Ecu 

ff CS EUTOP0 Bond A DM 

d CS Eurooa Bona B DM 

0 CS Fixed I DM 8* 1/96. DM 


ADVERTISEMENT SapL 29, 1994 

INTERNATIONAL FUNDS 

Quotations supplied by fimds Bstad, and trensmtaed by mCftOPAL PAWS [TeL 

NotMMt nhwoMlatleM v* npgUed by Nm Funds listed with «ha nception of mm qiio8** tawedon iwig prieo*. 

The marqmo] synAoh threat* tregoetwy of QMitatkiu guffBodi (d) ■ dpltr; [«) • wMldy; (b) • bi-monthly; (I) (ortnighUY !•!»»» tvwwgetajj W - regtdariy; ft) - twice wmMk [m) - mnUMy. 

LN. T M t aiL ° WaL IWC0ME F . W t> 3JJ.7S i SS MERrTlLLYNCHShWtEBM ,0 " mtULoSmiw^XFa-ZZX w& 

d Lora Temi ■ DMK DM 10&»R d Otabol HW In com? Bond -S ^ WORLD INCOME PORTFOLIO d pSSJrGJblESro&rtftFdJ 

ERMITAGE LUX (353-4173 30) .. ffGHIXCBono t 1030 d Ck75SA f «« 3 nSSIInS ShoSSm 's svtS 

iin fl iKaJHlAg - B " Hd . c SS merrillltnch a SSSSeSl^&wFa'Ij 2^1 

w ErmittSe Asian HBffse Fd_s M7 <# American Blue Chip 6 JXJ7 G , L ; *4,^ a 2 * pn ctfol^ a Ream GW 2.IS5 

its itsL^rr^—^ n s u <s^» " - - F m li 

3 Emilio?. EmC MMS^a — S l«7 GUINNESS FLI.13KT IHFL ACCUM FD „ UNAQIAN DOLLAR PORTFOLIO n — ( ’.Tin 

iTSTSSIESiVS^Li mm S ST — ? Sw iSSS^i 3 Kit mlSS 

■asRFdKSEWwi *" 5asgsfKW^°^a ggas& j — — | 93 

*.Esa^ is jassssspi-w- sBsesm^ h 

d Fkj.Aiiw’.VoIwsiv i 110571m w Mona invest CroBsonce — ff utxm dOggA-l — s cam grwtn CHFjf 

a Frontier Fund i 37.9(1 wMondbtvestOpp Intles FF 1221.92 ffCtassA-7 S 1X14 SKuSEgSmSSSSubi 1«S 

SgSBSliEiBg igarri S3 ™ ggg?5:i i ixoi "KtcAMoSSSj laj 

ff NtmEiPPPe npid!!!!l ll W2 HEPTAG8H RJPIB MV (599MI55SS) EUROPEAN BOND PORTFOLIO (USD w nwSoh^nrrt^ Wle « lnnxi 

ff Orient Fund 1 mil / Hoorcnxxi OLB Fund s 8X9? dOwA-L. dm a« JSSSKH'JU'JS ? JSwti 

SWfSTI^zzI ff E «?^Eite^EWLTD SgSg -— i f II 18 

OMiBIBI ^^ERUNOWgT^UO * tt 

FOKUS BANK AS. (73 01555 m HentWS Eurooewi Fund ECU 3412* ff Category A 1 1M7 wR^WfclrtAm Argwrt._S 

F^ffl^LM^RGMKTS^D ^ ™ ’S 

§ Bren littn Invest Co Slcav-J 4137 m Hermes Neutral Fund s tW.94 YE_t( PORTFOLIO _ tvtM SSSmfwSyjvDAj*.—— numiuiry 

w Coiomwon invesi Co Sicov_s 1530 m Hermes Gfebal Fund— ^ wi-ta rf category A r 2w PQ_B_m30W AZ_RonerannUJiJiU *24 |z f_,i m 

ff dtt EmMJrK invCoSIcovX 1126 mHertnes Bona Fund- Ecu 123625 d .&»LwSfyJ L - - 2 . 7 V 7 .— a t lao 2 1! 177® 

a l no Km Invest Co Sknv s 1246 m Hermes Sterling Fd- £ 109JJB MULTI CURRENCY 80ND PTFL d RG coroM FwJJ F[ 

d Latin Amer Extra Yield Fd S 180307 m Hermes GoW Fund s *35.14 d Class A * m 'SS 

d Laim AnttriCO income CO-3 9J1 IFDC SJLGROUP,L0WlonJax(4*-71>«tTn dCtosB s ■ , - -- =7 7 5 rF - -= - j T -, 2,147 j “ n liu* 

B Lahti American invest Co_i 1249 w I FDC Japan Fund Y 22949JB US FEDERAL SECURITIES PTFL Munev ^FFL tisjni 

UMencon invest CaSicgv—S *5.19 w interoond Fund Ecu 106K.* <1 Ckjsx a s «.]9 NWreRrtrasw AmsterWnSioaa 

w Peruvian invest Co Sicav—S 1X10 w Korea Dynamic Funo, 5 2^a dOmB— s 946 rotnschild (group ediaondbej 


Pj 3. Bon 2001. Hamilton, Bermuda 

m FMG Global (31 Aug) S 11 

m FMG N. Amer. (31 Aug) S IX 

m FMG Eurooe (31 Augi 1 IX 

rn FMG EMG MKT [31 Aug) S 1Z 

ffiFMGOtJl Aua) S 9. 

mFMG Fixed (31 Augi S IX 

FX CONCEPTS (BERMUDA) LTD 

w ConcKjtX Fore* Fund S 9. 

GAIA CURRENCY FUNDS 

tv Gala Hedge II S 13*. 

iv Goto Hedge III ■ — » 17. 

wGAlAFr S 122, 

m Gala Guaranteed ci. 1 i 8* 

S^TMORE^ii D05UF 2 FUlfoS 38/09/94 
Tel : (352) 46 S4 2* 470 
Far- (35214654 23 
BOND PORTFOLIOS .. 

ff DEM Bond DB531 DM X 

d Dlverbond □ is 231 SF 1 

d Dollar Bono Dio 115 s 1 

ff Eurooeon Bd — Db l.lo Ecu 1. 

d French Franc DK 934— FF 11 

ff GloOOl Bond— Dh 106 S X 

EQUITY PORTFOLIOS 

ff ASEAN * 9. 

ff Asia Pacific s 5. 

ff Continental Europe Ecu 1. 

ff Developing Markets — S * 

a France — FF IX 

ff Germany DM X 

d International S 1 

ff Japan — Y Z70J 

ff Norm America 5 X 

d Switzerland SF 3. 

d united Kingdom 1 1. 

RESERVE FUNDS 

ff DEM Dtt 3864 DM 43 

d Dollar CDs 111* S 11 

ff French Franc — —FF 13. 

<1 Yen Reserve Y 281 

GEFINOR FUNDS 

Landau 171-499 41 7iAeneva:41-22 735 55 XI 

w Scofilsh World Fund S 47936 

h Slate SI. American ■ _ S 348.' 

GENESEE FUND Ltd 

iv £A1 Genesee Eagle s 152. 

w (B1 Genesee Short 6 67, 

w (Cl Genesee Ooportinuiy 5 171. 

w (FI Genesee Non- Equity 5 139.' 

GEO LOGOS 

w II Strotatir Bond B Ecu HEX. 

w II Pacific Bond B SF 1147. 

GLOBAL A5SET MANAGEMENT 
OFFSHORE FUNDS _ 

11 Athol SU>ougtas.l el Man 46426436037 


w GAM ASEAN S 

w GAM Australia X 

ir GAM Boston % 

w GAM Combined DM 

w GAM Crass Mortal S 

w GAM European S 

iv GAM France FF 

w GAM Fronc-val SF 

wGAMGAMCO 5 

iv GAM Hum Yield 5 

ur GAM East Asia S 

w GAM Japan 5 

iv GAM Money Mkfs USS S 

d Do STorllna C 

ff Da Swhs Franc SF 

d Da Deutscnemork DM 

ff Do w* v 

iv gam Allocated Ml Il-Fd S 

w GAM Emerg MktS Mltl-Fd J 

ni GAM MJII-EimM USS S 

w GAM MIII-EuroM DM DM 

w GAM MllFGIobal USS S 

w GA U MJtl-US S 

n GAM Trtxflna DM —DM 

wGam Troakta USS— _» 

w GAM Overseas s 

w GAM Pacific t 

w GAM Relattve Value — « 

w GAM Selection 1 

w GAM Sumgare/Matartia-S 

ir gam SF Spedal Bond SF 

iv Gam Tv che S 

IV GAM U.S. — S 

iv GAMul Inveslmenls * 

w GAM Value * 

m GAM Whitethorn. S 

w GAM Worldwide 5 

•v GAM Bond USSOrd s 

w gam Band USS Special s 


ding DM— DM 12*05 

aria uss s 17X47 

neas s 1SZ92 

ific 973J5 

g five Value S lOftJH 

Ctton I 44X2? 

iopare/Malovsta_S 790*5 

Spedal Bond SF 12X88 

he S 359.15 

« 21135 

iveslmenls * 87X44 

ue * 12*75 

lelhorn % 19X52 

•tdwlde____S 66440 

d USSOrd S 14433 

. d USS Special S 18938 

w GAM Band SF_ SF 100.15 

» C-AM Bond Yen y 1444*00 

IT gam Band DM DM 117-0! 

W GAM Bond C_ J 15533 

iv GAM 1 5oeco1 Bond I 14055 

i* GAM Universal USS- S 1*803 

w GSAM Composite — t 33819 

w Global Strategic A — — JS 1JU9 

w Global Strategic B — s 101^ 

w European strategic A 5 W.90 

w European Strategic B_ — S JDOffl 

iv Tradlno Stroleglc A_ S 101.17 

Hr Trading Strategic B. . , S 10110 

w Emerg Mkl* Strategic A S 11 uu 

w Emerg Mkts Strategic B — s MX24 

SWISS REGISTERED FUNDS 4M-422 2*36 

MuhlOMCitstrasse 173£H NKZurkh 

ff GAM (CH) Europe SF 9)33 

d GAM (CH) Mondial —SF 16055 

d GAM ICH) Padflc SF 28*98 

5EC REGISTERED FUNDS 

135 East 57th Streets Y 10022312-888-0)0 

w GAM Europe S 6939 

wGAM Global S 13730 

w GAM international 5 i?*2) 

w gam North America -S 9131 

w GAM Poclfic Basin S 1«336 

IRISH REGISTERED UCITS 

65-44 Lower Mount SI Dublin 2353-1-474040 

iv GAM Europa ACC DM 12X21 

w GAM Orient Act -DM 159.91 

W GAM Tokyo Aa: DM 17631 

w GAM Total Bona DM ACC — DM 10*C 

w GAM Universal DM Acc — DM 17*29 

GLOBAL CAPITAL MANAGEMENT LTD 
Bermuda: <809 1 395-flmo Fax: (8091 295-4180 
JWH GLOBAL STRATEGIES LTD 
vr JA1 Original Investment _s 973* 

wiC) Financial A Metals S 1*630 

w (D) Global Diversified J 11X96 

w IF) G7 Currency- S 9883 

w(H) Yen Financial J 13925 

iv (j) Diversified Risk Adi— S 118*3 

wIKlinfl Currency *■ Bond-J 117jg 

w (Li Global Financial ■— s 8938 

w JWH WORLDWIDE FUND3 1723 

GLOBAL FUTURES ft OPTIONS SICAV 
fllFFM Int Bd PiW-CHF a -SF 10X94 
GOLDMAN SACHS 

ivGS Adi Rale Atari. FQll S 932 

mGS Global Currency S 126298 

wGS World Band Fund — 5 181* 

w GS World income Fund I 9J1 

GS EQUITY FUNDS SICAV 

w GS Euro Small Cap Port DM 9*42 

iv GS Gtatci Eautty— 1 1133 

iv G5 US Cap Growth Port S 1033 

wGS US Small Cop Port S 1805 

w GS Asia PorHdta < 1M3 

GOTTEX FUND MANAGEMENT 

wG. Swan Fund Ecu 116X19 

GRANITE CAPITAL INTL GROUP 

iv Granite Cooitol Foully % 0.9857 

w Granite Canltal Mcrtoooe— J 02729 

w Granite Globa! Debt. Ltd S 0.9*83 

GT ASSET MANAGEMENT (IRELAND) LTD 
Tel: (44) 71 -710*667 

ff GT Asean Fd A Shares S 

ff GT Asean Fd B Shares S 

ff GT Asia Fund A Shares S 

d GT Asia Fund B Shares I 

d GT Aslan Small Como A Sh.5 
d GT Asian Small Comp B Shi 
d GT Australia Fd A Shares — S 
d GT Australia Fd B 5hores_S 
d GT Austr. Small Co ASn — S 

d GT Austr. Small Ca B Sh S 

ff GT Berry Jason Fd A Sh S 

ff GT Berry Jason Fd B Sh_» 
ff GT Bond Fd a snares S 

ff GT Bond Fd B Shares S 

ff GT BIOS. Ap sciences A 5IL3 
d GT Bloft Ao Sciences B Sh_S 

d GT Dollar Fund A Sh S 

d GT Editor Fund B 5h s 

ff GT Emerging Mkts A Sh S 

ff GT Emerging Miffs B Sh— S 
d GT Em Mk! Small Co A ShJS 
ff GT Em Mkt small Ca B 5h J 
w GT Euro Small Co Fd a sh j 
w GT Euro Small Co Fd B Sh A 
tf GT Hang Kong Fd A Shares* 
ff GT Hang Kong Fd B SharesS 
ff GT Honshu Pntti finder A Shi 
ff GT Honshu Pathfinder B Sh* 
wGT JapOTC Stocks Rd ASM 
iv GT JapOTC Stacks Fd B Shi 
w GT Joo Smell Co Fd A Sn_S 
w GT Jap Small Co Fd B Sh— * 

wGT Latin America A I 

»GT Lalln Amer ICC B 5 

ff GT Strategic Bd Fd A Sh 1 

ff Gr Strategic M F0 B 5fl-J 
ff GT Telrcsmm. Fd A Shares* 
tf GT Telecomm. Fd B Shares* 
r GT Technology Fund A Sh_S 
r GT Technology Fund B 5h_s 
ST MANAGEMENT PLC f 4471710*547) 

O G.t. BfaiecniHeotth Fund -5 2049 

d G.T. Deutschtana Fund S 12X6 

ff G.T. Europe Fund S 5X06 

wG.T. C-iSOOi 5mail Co Fd S 3X1* 

ff G.T. invnitnert Funa_— 5 27JM 

w G.T. Korea Fund S *17 

w G T. Newlv InoCauntr Ffl_s 4231 

wGT.US SmolLCompontaS-S 2*34 

GUERNSEY CAPITAL MANAGEMENT LTD 

f GCM Global 5ei. Eq. I 107*9 

GUINNESS FUGHT FD MHGRS (Gluey! LIS 
GUINNESS FLIGHT GLBL STRATEGY FD 


w GAM Eurooe — — — S 

iv GAM Global S 

w GAM international 5 

w gam Nairn America S 

wGAM Pacific Basin S 

IRISH REGISTERED UCITS 


0 CS FiMa I ECU 8 3/4% 1/94.ECU 

ff CS Rued I SF7H 1/96— SF 

ff CS FF Bond A FF 

ff C5 FF Bond B — FF 

ff CS Gulden Bond A FI 

ff CS Golden Bond B— FI 

a cs Prime Bond a SF 

« CS Prime Bond 8 SF 

ff CS Shart-T. Bond DM A DM 

ff CS Shart-T. Bona dm B DM 

tf cs Shart-T. Bondi a s 

tf CS Short -T. Bond S B — S 

ff CS Swiss Franc Bond A SF 

a CS Swiss Franc Bond B — 5F 

d CS Euro real DM 

CREDIT AGRICOLE 
INDEXIS 

a Index Is USA/SftP 500 5 . 1837 

ff indents Janon/NIkkel Y 17*0.9ft 

1 d Indents G Bref/FTSE £ 1285 

d lndaxis France/ CAC 4tj _ — ff 13*70 

tf IndoxlsCT FF 11733 

MONAXIS 

tf Court Terme USD S 1732 

d Court Terme DEM— DM 392B 

d Court Terme Jpy y 227133 

0 Court Terme gap — c 133* 

ff Court Terme FRF FF 13944 

ff Court Terme ESP Pla 301020 

ff Court Terme ECU Ecu 3004 

MOSAIS 

d Actions Inn Dtverslfilcs— .FF 1223* 

d Actions Nora- America! nes _s TZZ5 , 

tf Actions Jatwtaiscs Y WXSI I 

d Acilora Angialxex £ 12.96 

tf Actions Aliemondex DM 39 AS 1 

tf Actions Francoises— FF 137JO 

a Adlans Ess. & Port — Pta 3*7542 

tf Acilora IhxllenneS-— Ul 339(C-*3 

tf Actions Bassta PaCI«que_S 39.1* 

tf oaiig inri ditotihto ff n*sa 

0 Obllg Nord-Amertcoines— s 1835 

ff Ot no jggonaises Y ™5A* 

ff Obllg Angta Wcs — — c 1337 

rf OOllg Allemondra DM 39JJ1 

rf OOllg Franc afsra FF I***) 

tf Obllg Em ft Port Pta 244*89 , 

tf Obllg Conv art. Intern. FF 141.71 

d Court Terme Ecu — -Ecu 2238 

d Court Term* USD S 1784 

tf Court Terme FRF FF 14*09 

CREDIT COMMERCIAL DE FRANCE 
a Elysees Monetolf e — ... - FF 9134931 

tf 5am AOtemh USD B S 1117-49 

cuRsrraR fund 

d Curxllor East Aslan Ea i 1113* 

ff Cursltgr Gird Bd Onoorj— J 9473 

d Curxllor GIM Owtn S-ib-FBJS 1MA3 

DARIER HENTSOt GROUP 
10141-2270848 37 _ 

d Hxitxch Tteaturv Fd_— SF 92D9.16 

tf DHMalor Markets Fund —5 F 980*48 

tf OH Mandarin Portfolio SF iDOivoo 

tf Samurai i 'artta ki x F 30230 

DISCOUNT BANK GROUP 
w Eurovol Eoultv — .. . ..Era 124*57 
wN. America Eoultv — ... , j 1*5*01 

•v Pacific Equity S 13(980 

w Dolvat Bond S ll*iM 

w Multi curr. Bond 5f 1343.16 

wMidtlCurrencv Band FF *678/2 

urMulllcurrmcv Bene DM BJJT 

DIT INVESTMENT PPM 

tf Concentre + DM S131 

ff inn Reotertona * ... .DM 4756 

DRE5DNER INTL MOMT 5ERVICES 
La Touche Home - 1 FSC ■ Dublin 1 
DSB Thornton Lot Am Sei Fd 

tf Conaulstaaar Fund 1 11.45 

DUBIN ft SWIECA ASSET MANAGEMENT 
Tel : (0091 ■U5 1400 Fo* 1 1807)945 1488 _ 

o HiahOr kfl» Caottal Cora S 12171.2 

m Overtook Perionwjnce Fd S SW/S ^ 

m Pacific RIM Op Fd J I0*7*£ 

EBC FUND MANAGERS (JeiW I LTD 

1-3 Seale Si. SI Heller : 0534-3*331 

EBC TRADED CURRENCY FUND LTD _ 

ff rwolml- -t 2X4694 

I ff income 3 MflM 


ff Matwgml Currency- 

tf Global Bono — 

ff Global High Income ( 

ff G)UACBona_ 

d Euro High Inc. Bond. 

d Global E wily 

d American Blue QiIp. 

ff Jgpgn and PodflC- 

tf UK — — 

ff European- — - 


GUINNESS FLIGHT INTL ACCUM FD__ 
ff Deutsche mark Money ..JI M 90*77 

ff US Dollar Money S 38.941 

ff US Dollar Him YdBqnfl 5 3*77 

ff litfIBatorexd Grill __ — s 3*J8 

HJUENBICHLER ASSET MANGT GeunbH. 
w Hasenolchier Com AG - 1 451 830 

w HosenblCNer Cam Inc S im25 

wHusenUchierDlv 5 ms 

wAFFT S 147X00 

HDF FINANCE.TeK3HH074*(SfcFax (D746455 

» Mood In vest Europe ff 12H35 

w Mona invest Cromonce FF imn 

wMandbtvnlOpp Intles FF 1221.92 

wMondkivest Emerg Growth. FF 135488 

wMenainveff Futures— .-.FF 121*38 

HEPTAGON FUND NV (599HU5SS) 

/ HeorrmxT olb Fund s 887? 

m 1 ieatggon CMO Fund s HA 

HERMES ASSET MANAGEMENT LTD 
Bermuda: <807 1 27S4im Lux:(lSZ14M4461 
Pinal Prices 

m Hermes Eurooetr Fund Ecu 341J4 

m Hermes Norm American Fds VJJB 

m Hermes Aslan Fund S 389JJ 

mHormesEmerffMWsFundJ 11X79 

m Hermes Strategies Fund — s W263 

m Hermes Neutral Fund s t I4J* 

m liei 1 l i es Gtabal Funff ....— ^s &6i.«0 

m Hermes Bona Fund Ecu 123635 

m Hermes Sterling Fd £ 10908 

m Hermes GoW Fund s 435J4 

IFDC SJL GROUP, L0MonJax(44-71)43S 9172 

w I FDC Jaoon Fund Y 22949JX) 

w interoond Fund Ecu iows.jo 

w Korea Dynamic Funa s 2g*g 

w Malacca Dynamic Fund — % 192383 

wMaroc Inveximenl Fund FF 936836 

INCOME PARTNERS (ASIA) LIMITED 
iv Asian Fixed income Fd — s 10617 

INTERINVEST [BERMUDA) LTD 

C/b Balk at Bermuda Tei : 809 275 4000 
rn Hedge Hog ft Conserve Fd_J PM 

INTERNATIONAL ASSETS FUND 
2. Bd RoyoL l- 2449 Luxembourg 
w Europe Sud E Pcu 9147 

INVESCO INTL LTD, POO Z7V. Mrsoy 
Tel: 44 S34 73114 __ 

d Maximum Income Fund c ftvsos ■ 

tf SierUnoflAngdPtfi ( 2.1200 

d P ioneer Markets [ *7620 

tf Global Band S „ _ 

tf OkusonGlaiJaiSlrotegy S 174900 

d Asia Sutler Growth _ . s 2752(10 

d Ninoon Warrnnl Funo s 1.9800 

d Asto Tiger Worrmi . s 5JB00 

d Eunwaan Warrant Fund S ±3«® 

ff Gltf N.W. 1994 $ *8400 

PREMIER SELECT FUNDS 

ff American Growth S 68400 

d American Enlernrlse S 88500 

d Asks Ttaer Growth— _S 130300 

tf Dollar Reserve S *3100 

rf European Growth s 5JM0 

a European enterpri s e— s *S4M 

d Global Emerging Markets _s 10.I3M 

d Global Growth % 58M 

d Nippon Enterprise s *0800 

d Nippon Growth S 5J«0 

tf up. Grown C 53200 

tf Start loo Reserve C 

tf North American Warrant 1 *3400 

tf Greater Chino Om 1 8.1600 

ITALFORTUNE INTL FUNDS 

wCtossA ( Aggr. Growth I ioUS 8123780 

w Class B (Global Eautty) S 1282 

■V Class C (Gtabal Bond). - 


wCtossA ( Aggr. Growth I iol.!$ 8123780 

w Class B (Global Eautty) S 1282 

W Class C (Gtabal Bond) S 11.13 

w Class D (Ecu Bond) Ear 1080 

JAR DINE FLEMING .GPO Box 11448 Hg Kg 

ff JF ASEAN T/USt S 41-44 

ci JF For East wmt Tr s 2188 

d JF Global Conv. Tr- S 1*3 

tf JF Hong Kong Trust _—J 1123 

tf JF Japan Sm. Co Tr Y *877*00 

tf J F japan Trust — Y 1 174*80 

tf J F Malaysia Trust S 3080 

tf JF Podfic Inc. Tr. $ 1264 

tf JF Thailand Trust S 43J4 

JOHN QOVETT MANT (IjOJAJ LTD 
Tel: 44824 - 62 94 20 

w Govetl Atan. Futurm [ 1184 

w Govett Man. Fut. US3 S 784 

w Govett 3 Gear. Curr_ S 1189 

w Govelt 3 GltH 3ui. Hdaa 5 HL8314 

JUUUS BAER GROUP 

ff Boertnnd — — SF 

ff Conbar— - — SF 

d Eouiboer America S 

d Eoutbarr Europe. — SF 

tf SFR- BAER SF 

tf Stuck bar SF 

ff SwKsbor — SF 

tf Lktattioer 3 

tf Europe Bond Fund-. Ecu 

a Dollar Band Funo J 

rf Austro Bond Fund AS 

rf Swiss Bond Fund SF 

tf DM Bond Fund -—DM 

rf Convert Banff Ford sf 

ff Global Bond Fund. DM 

tf Euro Slock Fund Ecu 

d US Stock Fund 3 

a Pacific Stock Fund- % 

d Swiss stock Fund SF 

ff Special SwKs Stock — — SF 

d Japan Stack Fund y 

ff German Stock Fund DM 

d Korean Stock Fund * 

d Swiss Franc Cash — -SF 

ff DM Cash Fund— DM 

tf ECU Cash Fund Ecu 

tf Sterling Cosh Fund. — c 

ff Donor Cash Fund 1 

ff French Fume Cash- -FF 

KEY ASSET MANAGEMENT INC 
m Kev Asia Uniterm t 10386 

in Key Gtobai Hedge 3 25X85 

<ev Hedoe Fund Inc S 15064 

PACIFIC ASSET (MANAGEMENT INC 


B Kev Hedoe Fund Inc S 

PACIFIC ASSET MANAGEM 
mKI Asia Pacific Fd Llo_— .1 
KIDDER. PEABODY 

b Chesapeake Fund Ud S 

b III Fund Lid S 

b Inn Guaranteed Fund S 

a Stonehenge Ltd 3 

LEHMAN BROTHERS 38/01/94 

tf Aslan Dragon Part NV A 3 

ff Aston Dragon Port NV B 5 

d Global Advtaors II NV A I 

ff Global Advisors 1 1 Nv B 1 

a Gtobai Advisors Port NVAJ 
ff Global Advisors Part NV BJS 

ff Lehman Cur Adv, A/8 -5 

tf Natural Resources NV A S 

tf Natural Resources NV B — 3 
tf Premier Futures Adv A/B J 
LIFPP INVESTMENTS 
Z47F Lima Tower Centre. 89 Quo 
Tel (0S2) 847 6888 Fox 18531 594 E 

w Java Fund — S 

n Asean Fixed Inc Fd. 3 

w IDR Money Mattel Fd s 

iv uSD Money Market Fd — s 
w Indonesian Grwrtn Fd— ji 
w Aslan Growth Fund 4 


. 1 Warrant Fund. 

LLOYD GEORGE MNGMT (853 

iv Antenna Fund — — A 

w LG Asian Smaller Cos Fd— 8 

w LG India Fund Lftf S 

iv LG Jaaan Fd — s 

w LG Korea Fd Plc__ % 


9J3 

X4J 

1285 

1086 

an 

10J5 

581 

MS 4*33 

1889 

198932 

1*97 

iaos 

10.97 


AS' Australian OoUars; AS- Austrian SdiUiDfis; 
Lit ■ Italian bra: LF - Luxembourg FranC*;jJ-p«ig 
Not Communicated: a ■ New; s - su^enora Ss 
e ■ misquoted wdten *-not registered wfui reguii 


resr-fe 

„ fca IncLSNpreUm.—. 

Hlddla ot btd »d offered price. E: estimated pnCB; y: pncB 


LLOYDS BANK INTL (BAHAMAS) Ltd „ 
w Lloyds Americas PprtfoHo_S 968 

LOMBARD. OD1ER ft CIE -GROUP 
08LIFLEX LTD (Cl) _ 

d MultloirrencY ..... 3 3285 

tf Dollar Medium Term 5 2*54 

tf Dollar Unw Term S 1984 

tf Japanese Yen. Y 498780 

d Pound Sterling — t 2591 

d Deutsche Mark DM 1761 

tf Dutch Florin .H TXIt 

d HY Eurocurrencies Ecu )562 

d Swiss Franc SF liOO 

tf US DnOor Short Term 5 1380 

d HY Euro Curr DIvM Pay — Ecu 1060 

ff Swiss Multicurrency 8F i486 

tf European Currency Ecu 2163 

tf Belgian Franc——. BF 13*60 

d Convertible s 1*90 

1 tf French Franc .— . FF 13X80 

tf Swiss Multt- Dividend SF 9 JO 

tf Swiss Franc Short-Term— SF 10X03 

0 Canadian Dollar — — CS 1X50 

d Duleh Florin Multi FI 1*53 

tf Swiss Fume Divtd Pay.— JF 10X5 

d CAD Mul Hair. Dlv CS 1162 

d Mediterranean Curr SF 1X28 

ff convertibles -■ IF 96* 

tf Deutschmark Short Term_DM 1X82 

MAGNUM FUNDS isle ot Man 
Tei 4W24 488 320 Fas 44-424 688 334 

w Magnum Fund 3 «U2 

I w Magnum MallFFund J 9068 

w Magnum Emerg Growth F<H 9337 

I wMAgnum Aggres. Grwth FdS 9293 

MALABAR CAP MUMT (Bermuda) LTD 

mMotabar inti Fund S 19A7 

MAN INTERNATIONAL FUTURES 

mMinl Limited ■ OrtBnary 5 4085 

mMInt Lkiihed- income —S 1280 

m Mini Gta Ltd - Snec lssue—i 2482 

rnMtot GW Ltd- Nov 2002 3 21.04 

m Mbit Gtd Lid -Dec 1994 S 17J1 

mMIntGId Ltd -Aim 1995 S 1481 

mMint Sp Res Ltd (BNP) 3 9787 

mMint Gtd Cumnffa S 672 

mMint Gld Currencies 2001 s 6Je 

mMint GGL Fin 303 s 483 

mMint Phu GW 2003- J PSP 

m Athena Gld Futures s 1286 

mAIftenaGMCurrenctos— S 9 84 

mAthcnaGtd FUmndatsCapA 100) 

m Athena Gtd Financials IncJ 10.1 1 

mAHL Capital Mkts Fd S 1X17 

mAHL Commodity Fund 1 1172 

mAHL Currency Fund 1 761 

I mAHL Real Time Traa Fd s SJ6 

mAHL GW Reel Time Tru j X99 

I m AHL Gld Can Mark Ltd— S 98* 

m AHL Gtd Commodities Ltd 81 93* 

mMon Guaranteed 1994 LM — S 887 

jwMop I j ve rog ud Rntnv. LMJ 1189 

mMAP Guaranteed 2M0 i 9.98 

mMAP Gtd 2001 S IDAS 

MARITIME MANAGEMENT LTD 
73 Front St Haml him Bermuda (809)292 9789 
w Maritme Mh-Sectar 1 Ltd -S 180688 

w Marl time Glbi BelaSerles_S 83380 

w Maritime GIM Petto Series J 79280 

MATTHEWS INTERNATIONAL M8T 
EMERGING ASIAN STRATEGIES FUND 
"h™* s 11883 

j P/Sfn^CONV STRATEGIES FDLTD ,,S “ 

mClassA 5 9988 

tf Class 0 — .J 9882 

MAVERICK (CoraosMBWt 94MM2 

m Mover kit Fund » 14772 

MCKINLEY .CAPITAL PARTNERS, LTD 

m The Corsair Fund Ltd s 77jn 

m The Dauntless FdLM s 11170 

MEESP1ERSQN 

RokUl 55. 1012k k. Amsjerdan I20-S2111B8) 
n Asia Pot. Growth Fd N.V. _S 4881 

w Aston Cooita Holdings— _s 61X 

w Asian Selection Fa N.v R idsjb 

I wDP Amer. Growth FdN.V.-S 3X40 

1 IV EJMS CBWtrf Fd NLV. FI lOf.lM 

w Europe Growth Fund N.V. -FI l?St 

w Japan Diversified Fund s 5283 

j5 E L s^YSs&r a — 1 

d Dollar Assets Portfotlo 5 180 


Dutch Florin 



ff Prime Rate Parttoilc S 1080 

MERRILL LYNCH SHORT-TERM 
WORLD I NCOME PORTFOLIO „ „ 

dCIOMA.. f X» 

O CiloSvi B BmQ 

GLOBA LCURRENCY BOND SERIES 
AUSTRALIAN DOLLAR PORTFOLIO 

ff Category A A* 

tf Cotnorv b -AS 17^0 

CANADIAN DOLLAR PORTFOLIO 

tf Category A g J4.W 

tf Calraorr n — a 1X79 

CORPORATE HIGH INCOME PTFL 
tf Class A- 1 -» 2-M 

rf OassA-2 i JS 

tf Dassft-i — — S ’88 

tf Cuss 1 ^ 

DEUTSCHE MARK PORTFOLIO 

a Category A DM J28B 

tf Cnteaerv B DM 1263 

EUROPEAN BOND PORTFOLIO (DM1 
d n«u 4.l s 1363 

tf CK5 A-? I 1X14 

3 Class B-1 » u 

tf cia»B-2__ a 1581 

EUROPEAN BOND PORTFOLIO (U5S) 

a CiOSS A-l—— pm !« 

a Class A-2- —DM 971 

tf Class B-1 — * 8.95 

3 Class B-2 5 983 

POUND STERLING PORTFOLIO 

tf Category A 1 lXg 

tf Cciegory B. r 1SJ7 

U5 DOLLAR PORTFOLIO 

(/Category A 5 IXJO 

tf Category B -S 11)0 

YEN PORTFOLIO 

tf Category A J JJ 

tf Category F ■ y 1260 

MULTI CURRENCY BOND PTFL 

d Class A * 7286 

tf Okas B s 3IA7 

US FEDERAL SECURITIES PTFL 

a Class A s 9.H 

tf Class B » 966 

MERRILL LYNCH 

EOU I TV f CONVERTIBLE SERIES 

BASIC VALUE PORTFOLIO 

ff GQ55 A i JW4 

tf Class B 5 14J4 

CONVERTIBLE SECURITIES PTFL 
tf Oats A » 1199 

w riiS? n s 1384 

GLOBAL ALLOCATION PTFL (USI) 

tfCtassA % 1089 

d Class B _ 1080 


GLOBAL EQUITY PORTFOLIO 

rfClossA S 10*3 

tf Class B 5 983 

EURO EQUITY PORTFOLIO 

tf Class A S 1*42 

tf Class. B 5 1388 

LATIN AMERICA PORTFOLIO 

of Class A S 16J9 

tfCtaosB 1 1778 

PACIFIC EQUITY PORTFOLIO 

tf Class A 1 977 

tf Class B 1 976 

WORLD NATURAL RESOURCES PTFL 

tf Class A S 1221 

ft rlflt* ft II n S 1147 

DRAGON PORTFOLIO 

d Class A. S 17J» 

d CUis B * 1770 

MERRILL LYNCH EMERGING MARKETS 

d C kas A S JIM 

d Class B S 1287 

MERRILL LYNCH INC I PORTFOLIO 

tf a ass A 3 870 

tf Clou B — S 

d class C * STD 

MERRILL LYNCH MEXICAN INC PORT _ 

a Mexican inc S Ptfl Cl A S 9J7 

d Mexican ine 1 Ptfl Ci B — s 977 

rf Mexican inc Peso Ptfl Ci a j 8.99 

tf Mexican Ine PetaPHl Cl B 7 _ B79 

MOMENTUM ASSET MANAGEMENT 
w Momentum Novehler Pert_s 938* 

m Momentum Rotnhow Fd— J 11586 

m Momentum RxR R-U... . S 79.27 

m Momentum Stackmoalw — S IS9.92 

MOKVAL VOMW1LLER ASSET MGT CO 

w Wilier Japan-— Y 21780 

iv Wilier South East Asia S 1889 

w Wilier Telecom 1 1087 

» WlllerfundvWUlertHjno Caps li« 

w wifiertureft-wmerttond Eur Ecu i?8B 

wWlltortunds-wuiereq Eur —Ecu 1387 

iv wnierhmds-wllliireo iraiy-Ln 1275UM 

ur Wlllerfunds-Wlllerea NA S 1188 

MULTIMANAGER N.V. 

m World Bond Fund-. Ecu 1288 

m European Equities Ecu 14A9 

m Japanese Enui Hes Y 881 

m Emerging Martels S 2121 

m Cash Enhancement S 987 

m Arbitrage, S 9^ 

— s 11)0 

NICHOLAS-APPLEGATE CAPITAL MGT 

tv NA Flexible Growth Fd. * 14*83 

tt NA Hector Funa 5 12965 

NOMURA INTI- (HONG KONG) LTD _ 

ff Nomura Jakarta Fund 5 1085 

NOR IT CURRENCY FUND 

m BCL USD S 81781 

mBCLDEM DM 871.13 

mBCLCHF SF 92*79 

rnB CL FRF. FF 4471 JO 

m BCL JPY Y 8249580 

mBCL BEF BF 2679380 

OBEY A5SET MANAGEMENT LTD 

21 GrosvenorSt.LdnWIX9FEA4-71-4992998_ 

tf Odey Euronecn DM 126J3 

wOdev Euraoean — _S IJ2J1 

wOdev Euron Growth inc DM '288 

w Odey Euroo Growth ACC— DM 1 39 79 

wOdev Euro GrthSter Inc — c 5679 

w Odev Euro Grth Sler acc — c 5770 

OLYMPIA CAPITAL INTI- INC 
williams House. Hamilton HMll, Burmuda 
Tel: 809 292 (018 Fax; 809 29S-2305 

w Finsbury Group— S 22172 

w Olympia Securlte SF SF I42A2 

tv Otymola Stars Emerg MkfsS 999.D3 

wWmcn. Eastern Dragon S 1771 

W Winch. Frontier S 27782 

w When. Fut. OlviraXa Star— 5 1*369 

w Winch. Gt Sec Ik PI (A) s 9.19 

w Winch. Gi Sec ine PI (C) S 9A4 

m Winch. Global Healthcare— Ecu 104278 

w winch. Hide mri Madison —Ecu 151782 
w winch. Htog inl'l Ser D— — Ecu 178570 

w Which. Hkto Inll Ser f Ecu I775A0 

•V winch. HUM oiv Star Hedges UKftiB 
w Winch. Reser. MuIlL Gv BdJ 17.97 


w Winch. Reser. MuIlL Gv Bd_S 
w Wknchesler Thailand — _ s 
OPPENHEIMER ft CO. INC Fdi 
b Arbitrage international — s 

b Emerg Mkts Int 111 % 


a Obliges! Gtal FO- Fixed Inc-DM K8g 
b Ootioesl GIM Fd-Gen Sub F JJM 181853 

OPTIMA FUND MANAGEMENT 
73 From St. Hamilton, Bermuda 809 29^8658 
* Optimo Emerald Ftf Ltd — * 103* 

w Optima Fund — — — * 180* 

w Optima Futures Fund— — S I/ O 

w Optima Glooal Fund S 104 

iv optima Perlculo Fd Lid — J 980 

w Optima Short Funo 8 7.11 

w The Platinum Fd LW S HU# 

ORBITEX GROUP OF FUNDS 

d Orbltax ASM Poc Fd S 58104 

a Oral le* Growth Fd S 7^ 

tf Oral lex Hearth ft Envlr FdS 

tf Orbtlex Japan Small Cap Fd* 47438 

doraiiMNoturai Res Fd — CS 1*520* 

tf EtenKfY Fund Lid S 38*2739 

tf InftnltY Fund LM S 594.HJ21 

ff Novastar Fund S 1)3.7718 

» 5tar High Yle« Fa Lid 8 15)5339 

ARIBA5-GR0UP 

w Luxor * 

ff Parvesl USA B 5 

d Parvesl Japan B Y 

d Parvesl asm Poat B s 

tf Parvesl Europe B, ..—Ecu 

tf Parvesl Holland B FI 

d Parvesl France B FF 

ff Parvesf Germany B. . ■ DM 

tf ParvestOMFOolUrB s 

rf ParveStOMI-OMB DM 

rf Parvesl Obi i- Yen B Y 

rf Parvesl ODH-Gukien B — — FI 

rf Parvesl OMJ-Franc B FF 

d Parvesl Obn-stw B — — £ 
d Parvesl Obtl-Eai B. Ecu 

tf Parvesl ObO-Belire B LF 

tf Parvast 5-T Dollar B * 

tf Parvesl S-T Europe B Ecu 

tf Parvest S-T DEM B DM 

tf Parvest 5-T FRF B FF 

d Parvest S-T Bef Plus B BF 

d Parvest Global B— L7= 

d ParvestintBonoB- S 

tf Parvest OUMJraB Lit 

a Parvest In* Eaolttcs B S 

d Parvesl UK B c 

d Parvesf USD Plus B S 

d Parvest 5-T CHF B SF 

d Parvest Obfi-Canodo B a 

tf Parvesl OMFDKK B DKK 

PER6AAL GROUP , „ 

f Emeroing Mkts VUtfBS S 9T^ 

t EuroMir (Ear) LW Ecu IW60 

f FX. Financials ft Futures -5 

l Growth n.v S 

f investment Hkigs n.v s I3152S 

I Media ft Communlcatlans—S lraaOO 

/ NascnlLM 5 187134 

PICTET* CIE -GROUP 

tf Airwrasec . . ■ ■ 8 5371 

WP.CF UKVaHLux) 1 *280 

w P.CF GermavM (Lux I DM 91« 

wP.CF Noromvol (Lux)— S 2870 

w P.CF Vafiber ( Lino Plus «n980 

WP.CF VairtaDa (Luxl Ul I14M580 

;F®.WaWfltsrS S 

w PiJ.F. Votaond USD (Lux) -I »8» 

w P.UJ=. Valbond Ecu (Lux)-EOJ 1T7.1J 

W P.U.F. VsJband frf iluk) J=F 927^ 

■v P.U.F. Votaond GBP ILux A 9121 

hPM Valbond DEM (Lux) DM 285-H 

w P.U.F. US SBd Ptfl (Luxl—* 

w P.U.F. Model Fd Ecu 1169J 

W P.U.F. PfetHe 5F 47273 

w P.U.T. Eme rg Mkts (Luxl _5 2J6« 

IvP.U.T. Eur. Opporf (Luxl —Ecu 1*439 

b PJJ.T. Global Volup (Luxl -Ecu 1*464 

nr P.U.T. EurovO) I Lux)— ECU mW 

PREMIER INVESTMENT FUNDS LTD 
e/o PA. Bax itOO. Grand Cayman 
Fm: (S09) 9498993 

m Premier US Eautty Fund— S IBM] 


m Premier inti Ea Fund s 

it) Premier Sovereiwi Bd Fd_5 


% mWBML 


ul-J w 

!!^ ,SS5 

i Fd 5 97977 

GAM FUND INC 
I 723432 Fax:7234ft8 


tePrtvote Asset m GAM Ffl* lots 

PUTNAM 

rf Emerging HMhSc.Trwt^ 3727 

IV Put nan Em. lnfp.Sc. Trust J 3981 

d Putnam Glob. High Growth 2 1JJJ 

tf Pumam Htohinc gnma rss 
U Putnam iml Fund % 15J1 

QUANTUM GROUP OF FUNDS 

sasnM ja 

S»SSSM==dl "K 

w Quanhxn Realty Trust s JKffl 

■r Quantum UK ReoNv Fund— C 109-5) 

wQunar inti Fund N.V * 1SJ4 

wQUMl Fund H.V.* 5 14687 

REGENT FUND MA NAG CME NT LTD 

J New WreaGrowth Fd * 1288 

w Nova Lai Podfic Imr Co — Jt unB 


■v Pacific Arb'rtrage Co 5 18A7 

in RX. Country wrnt Fd » 24*87 

d Pogent Glhl Am Grin Fa S 48553 

tf Pegenr&W Euro Grm Fd J * 8880 

tf Regent GlbllnK Grin M—S 23378 

a Regent GBH J* Grth Fa 5 24731 

tf Regent GM Poat Basin —5 489)7 

a Begem GUM Reserve S liras 

ff Regem GUX Resources 1 2704 

fl Repent GW Tiger S 3JS44 

tf Regent Gttx UK Grth Fd S l.fSW 

w Regenl Moghul Ftf Ltd - — S 1U0 

m Regent Foe rile Hdg Fd 5 1276635 

» Regent Sri Lenka Fff- 5 118S 

w Unaervahied Assets 5ar I 5 1134 

REPUBLIC FUNDS 

w Republic GAM S 13928 

id Republic GAM America s 11688 

w Reg GAM Em Mkis Gloss* J 1S*S4 

w Rea GAM Em Mkts Lot AmS 12786 

w Republic GAM Eurooe CHFSF nm 
w Republic GAM Europe US38 9886 

w Republic GAM Grwtn CHF JF '0572 

W Republic GAM Grown I C HAM 

w Republic GAM Growth U5J5 14988 

w Republic GAM Opporturt/tvS 11*72 

wReeublle GAM Padflc S W 81 

w Rep Gtob Currency —3 

iv Rep Gtob Fixed inc i HEZJi 

w RflDUDIIcGnsev D(ri inc, S 1D84 

w Republic Gtisey Eljr Ine — DM 9.99 

w RepuWlc Lat Am Alloc 5 10254 

w Republic Lat Am Argeirt. 5 98.13 

w Republic Lat Am Brazil s '» 

w Republic Lat Am Mexico J 18&90 

ir Republic Lat Am Venet— S 8*74 

w Reo Salomon smsegles 5 8756 

ROBECO GROUP 

FOB 9713)00 AZ Rotten omOyiO 224T22I m 
ff RG America Fund— __Fl 1418Q 

rf RG Eurwto Fund Fl J2MO 

d RG Podfic Fwitf Fl 1415a 

tf RG Dhrlrente Fund Fl 516B 

if RG Money Plus F FL— .Fl D58t 

More Rebeeo see Amsterdam Stocks _ 
ROTHSCHILD (GROUP EDMOND DE) 
IN-HOUSE FUNDS 

w Aslan Capital Hotomgs Fd J ..*245 

w Dai HP LCF Rottechlld Bd-S 1000.13 

w Dm wa LCF Roiftsai Eq, — x iwa 

w Force Cash T radii tan CHF JF 10*77.48 


nr Force Cnsh Tradllion CHF JF 1 Q477 jB 

wLelcam — J 278BP 

w Leveraged Cap Holdings — 6 «JJ7 

wObU-Vator. SF M»a 

w Pri Challenge Swte Fd 5P '091.W 

b PrieaultY Fd- Eurooe Ecu 1168B 

a Prtegultv Fd-HeWefia 5F iq*9m 

a Pri8ouity_Fd-Latln Am s ]<a.o» 

b Prtaond Fund Ecu. Ecu 1 1*472 

b Prlbond Fund USD 5 lih-™ 

b Prfbond Fd HY Emer MktsS 119817 

w Selective Invest Sa. s ,37*218 

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mExptarer Fund S 115802 

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rf Jgpwrf to rHolto Y 

ff Sterling Bend SNecttoi £ 


International RecnAment 


Every Thursday 

Contact Philip Oma 
Td.: (33 46 379336 
Fax (33 1)46379370 
or your newwMHT offica 
ar representative 


information on how to list your fund, fax Simon OSBORN at (33-1) 46 37 21 33 


For expert advice on personal investing. 

Every Saturday, the Ihtermtional Herald Tribune publishes The Money Report, a weekly section that provides 
a penetrating analysis of financial products and services available to today's high-net-worth investor. 

For timely investment information, read The Money Report. 


international 
































r AMEX 

TOwrsday's CioviMi 

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IS Month 

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Soles llourn ore unoftlclol. Yearly highs and laws reflect 
tne previous 52 weeks Pirn ihe current week, but no i me latest 
trading day. Where a sMlt or slock <Uvlae«d omounttmi to 25 

percent or more nas been paM. me year s nioh-iow range one 

dividend are shown lor the new stock only, unless otherwise 

noted, rates ot dividends are annual disbursements based on 

the totes! declaration. 

a — dividend also e*ira(s>. a— annual rate of dividend otus 
stock dividend c — llautoallno dividend, ctd — colled, d — 
new yearly low. c— dlvtoend declared or paid In precedlmi 12 
months, a — dividend In Canadian funds, suolccf to 15% 
non-residence to*, i — divtoena OeOoreO Otter splll-up or 
stock dividend, f — dividend paid mu year, omitted, deterred, 
or no action token o' latest dividend meal lira, k — dividend 

declared or paid mis war, on accumulative issue with divi- 

denas In orr eon. n — new Issue in the pool 52 weeks. The htotv- 

low ronoe beoins wllh Ihe storl of trading, nd — ne»i doy 
delivery. PTE — price- earn I ngs ratio, r— dividend declared 
or Paid in preceding 12 months, plus stock dividend, s — stock 
sallt. Dividend begins with date of spill, sis— sales, t—diw 
Oend paid in stock in preceding 12 monlhs. Mil mated cash 

value on er -dividend or ex ’distribution date, u — new yearly 

high, u — trotting halted, vl— In bankrualcv or receivership 

or Being reorganized under the Bankruptcy Act. or securities 

assumed bv such companies, wd — when distributed, wl — 

when Issued, ww— with warrants. * — ex-dlvtoend or •«- 

right*, eats— ei-distribution. xw — without w oi r un ts, v— 

ex-dividend and sales In tutt. via— yield. :— sates In tuiL 


On November 29th. the IHT will publish a 
Special Report on 

Telecommunications 

Among the topics to be covered are: 

■ Phone company privatization around the 
world. 

■ The global mobile phone standard. 

■ Overcrowding on the information 
superhighway. 

■ The competition to wire up the fast- 
growing nations in Asia. 

■ Alliances among media providers. 

The newspaper win also be distributed at SITCOM 
in Pans on the same day. 

For furthenntormation. please contact Btt Mahder in Paris 
at (33-1) 463793 78. tax: (33-1) 46373044 

■7l# | V rUHEMTKIMI <*W» „g 

iicralo^f^e;ribunc 


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Page 18 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, SEPTEMBER 30, 1904 


EUROPE 


USAir Halts Dividend, 
BA’s Shareholders Fay 


Bloomberg Business News 

PARIS — British Airways 
PLC shares fell 4 percent to a 
52-week low Thursday, after 
USAir Group said it would de- 
fer payment on BA’s preferred 
stock investment. 

The stock fell to 345 pence 
(55.44). down 15 pence, it has 
lost about a quarter of its value 
in the past two months as inves- 
tors have become increasingly 
concerned about BA’s U.S. 
partner. USAir has long had 
financial difficulties, and the 
crash of one of its 737s on Sept. 
9 has not helped. In late New 
York trading. 

Alan Solioway, a spokesman 
for BA, said that his company 
had participated in the decision 
to have USAir defer payments. 

“The decision by the USAir 
board was unanimous. We have 


three members on that board. 
So we were party to that deci- 
sion," Mr. Solloway said. 

The USAir board also has a 
representatives from Berkshire 
Hathaway Inc., the holding 
company controlled by Warren 
Buffett, a USAir spokesman 
said. “The decision was made, 
where a company is losing mon- 
ey, it should not be paying divi- 
dends,” the spokesman added. 

BA had been collecting S25 
million a year in dividend pay- 
ments on its $400 million, or 
24.6 percent, stake in USAir. 

Although BA has continued 
to make a strong showing, and 
has done well in increasing the 
number of higher-paying busi- 
ness-class and first-class pas- 
sengers. growing concerns 
about USAir have pummeled 
BA’s stock recently. 


In May, when BA announced 
pretax profit for 1994 of £301 
million, the British carrier said 
it might be forced to write off 
its investment in USAir if it 
could not get its costs under 
control. 


Despite the bad news, ana- 
lysts were not overly concerned. 


“We think the damage is lim- 
ited,” Mike Powell of Natwest 
Securities said. He noted that 
even if BA had to lose £16 mil- 
lion a year, assuming dividend 
payments remained suspended, 
BA actually gained £70 nullioa 
in annual revenue through its 
ties with USAir. The two airlines 
have a code-sharing arrange- 
ment that encourages U.S. pas- 
sengers flying USAir to use BA 
for international flights. 


Forte Profit Rises 62 % 


Reuters 

LONDON — Forte PLC 
said Thursday that good re- 
sults in its restaurant and 
London hotel operations 
helped its first-half pretax 
profit surge by 62 percent. 

Profit rose to £60 milli on 
($95 million), from up from 
£37 million ($58.4 million). 

Forte stock rose 3 pence, 
to 322 pence, on the London 
Stock Exchange. The com- 
pany held its dividend at 
2.75 pence. 

“The figures were as good 
as could have been expected, 
and that’s not to d amn them 
with faint praise.” one ana- 
lyst said. 

Forte nulled off a dramat- 


ic coup two weeks ago when 
its 1.09 billion franc ($207 
milli on) bid for 57 percent of 
Society des Hotels Meridiem 
which was owned by Air 
France, was chosen over a 
rival bid by Accor SA. 

Forte said it would extend 
its offer, which values the 
whole of Meridien at 1.9 bil- 
lion francs ($360 million), to 
other Meridien shareholders 
once the deal is approved by 
the french government. 

It has so far refused to say 
how it will pay. 

The company has three 
options: debt cash raised 
through disposals or an eq- 
uity placing. 


Credit Lyonnais 
Banks on Its Ads 


Reusers 

PARIS — Credit Lyonnais 
launched a huge publicity drive 
on Thursday, takin g ouL full- 
page advertisements in 75 
French newspapers that 
mocked its troubles. 

“Here are the bad results that 
everyone was waiting for,” ran 
the headline of one ad, which 
went on to explain why the state- 
controlledbank suffered a loss of 
4.5 billion French francs ($853 
million) in the first half of 1994. 
“The idea is to show our clients 
that we are talking openly to 
them and that we are not hiding 
anything,’' a spokeswoman said 

The ads will run five days and 
cost about 15 million francs. 


Trading System 
Gives New Look 
To Dutch Bourse 


AFP-Ettd News 

AMSTERDAM — The Amsterdam Stock Exchange’s new 
stock-trading system, which is to be launched Friday, is 
expected to increase volume and liquidity, reduce fees' and 
strengthen the bourse’s competitive position, brokers said. 

Among the changes, die system is to 

• Separate the market into a retail segment for small orders 
and a wholesale segment for large orders. 

• Set thresholds for wholesale trades in the 30 most active 
stocks. 

• Give the wholesale and retail markets their own dealing 
systems. 

e Change the role in the retail market of the marketmaker, 
to provide a U.S.-style stock specialist service. 

• Introduce computerized screen-based dealing for the 
wholesale market, allowing direct dealing without use of a 
market maker 

• Make orders visible to all bourse members. 

Two systems will be operating in the wholesale market: the 
Amsterdam Stock Exchange Trading system, and the Auto- 
matic Interprofessional Dealing system Amsterdam. 

Cees Smit of Mees Pierson Holdings NV. which is to be a 
specialist in 30 Dutch stocks, said the system was aimed at 
making trading easier. Institutional investors will be able to 
access several market specialists and get “a very good price." 
he said. 

Bert Metz of Delta Lloyd Bank NV said he expected the 
new system to be a clear improvement, resulting in increased 
liquidity and boosting Amsterdam's competitive position. 

Bourse members wfll be able to advertise prices to members 
and nonmembers on the Amsterdam Stock Exchange Trading 
screen. The Automatic Interprofessional Dealing system will 
be a computerized interdealer broker. It trill be order-driven, 
comparable to the German IBIS system, and will mainl y be 
used for active stocks. 

The retail segment will operate with one market maker per 
stock. The segment will contain two electronic systems: the 
limit-order book, into which market makers are required to 
enter continuous bid and offer prices for the 30 most actively 
trade stocks, and the old-fashioned open-order book system 
for other stocks. 

Mr. Smit said the new system would enable him to trade 
directly with other parties in Amsterdam. The system will be 
less expensive than current trading because fees will be lower, 
which m turn will boost the volume of trades flowing through 
Amsterdam, he said. 


ILK. to Sefi 
Power-Firm 
Interests 



Reuters 

LONDON — The British 
government is to offer for sale a 
stake in the privatized power- 
generating companies National 
Power and PowetGen that is val- 
ued at £3.9 billion ($6 billion), 
the companies said Thursday. 

They said that the offer of the 
remaining 40 percent of their 
shares that are still owned by 
the government was planned 
for February 1995. 

Investors wifi be offered a 
package of shares in both com- 
panies, but the shares will be 
traded separately once sold. 

The sale of the first 60 percent 
raised £2.16 billion in 1991. 

The two companies said at 
least 40 percent or the new offer- 
ing would be set aside for small 
investors, who would be able to 
buy at a lower price than institu- 
tions. If demand is strong, the 
share would be increased. 

There will also be two sepa- 
rate international offerings. 

The sale is likely to dwarf an 
expected privatization, expect- 
ed to amount to £1 billion, of 
the national Post Office that is 
likely to take place later next 
year and a British Rail sell-off 
that could bring £1.5 billion. 


Investor’s Europe 


Frankfurt 

DAX ' •••• 


London; ? ;v-' - 
FT.SE 1.00 Index;, 


CAC 40; 



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Vienna-'. 

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■ : . 9m2 ^- 323^t >i,ty 

Sources: Reuters, AFP 

Inienntknul Herald TnUu~ 

Very briefly: 


i;il> 




■ Italian Offerings 
The Italian government said it 
intended to seU stakes in tbelsti- 
tu to Mobiliare Italiano SpA bro- 
kerage house; the insurance 
company Istituto Nazionale 
delle Assicurazioni SpA: Ente 
Nazionale per 1’Enexgia Elet- 
trica, an electric utility; and So- 
cdti Finanziaria Telefonica, the 


phone company, in the first half 
of 1995. Bloon 


{loom berg Business 
News reported from Rome. 


ago because of lower provisions and recovery. 

• Dnssduer Hank AG said bidding for around 2. 1 million shares in 

the airline Lufthansa AG, which the German government is 
selling, is based on 1 84 Deutsche marks ($1 18) a share, the price it_ 
closed at Thursday. _ 

• Virgin Group PLC and ICL PLC, the British computer-making 

uni t of Fujitsu Ltd., will jointly market personal-computer p*od~^ 
ucts in Europe and the Middle East I 

• Volkswagen AG’s supervisory board will hold a meeting on' 
Ocl21. The board is expected to discuss the large losses at its 
Spanish unit Sociedad Espafiobt de Automobiles de Turismo SA. 

• Union des Assurances de Paris said it acquired Provincial 7 
Insurance PLC of Britain for less than £300 million ($472 million). . 

• British Gas PLC, whipped by domestic competitive change, said 

it would more than double international expansion over the next * 
five years. (AFX, Bloomberg, Reuters ■' 


WOMEN: High U.S. Officials of IMF and World Bank Qudlenge the Male Near-Monopoly AID: IMF Supports Funds for Kiev 


Continued from Page 13 


helped to appoint Ms. Lis- 
sakers. admitted that even in 
Washington “it was not easy to 
get Karin into the IMF job." 
The problem, she explained in 
an interview, was not so much 
overt discrimination as “the 
way in which people move in 
circles of trust." 


At the World Bank there are 
also few women in senior posi- 


tions, with the exception of Jes- 
sica Einhom. the bank’s trea- 
surer. Ms. Pierey, 46, recalled 
that she recently mentioned to 
the World Bank board that all 
of the 18 commissioners in a 
special committee to examine 
the bank’s effectiveness were 
men. “1 mentioned that, but 
there was no pickup. There is 
great discomfort in looking at 
the issue of targeting such ap- 
pointments,” she added. 

The IMF and World Bank 


have commissioned studies that 
recommend increasing the 
number of women in senior 
posts. Ms. Einhoro, while 
pointing out Lhat her own suc- 
cess at the bank shows there is 
scope for women to succeed, 
also noted that “I have always 
thought that die real judgment 
on the bank is how women do 
on the operations side, the lead- 
ing side, and there has still nev- 
er been a woman vice president 
there.” 


Two years ago. the World 
Bank hired Mark Wiig, a for- 
mer director-general in Nor- 
way's ministry of family affairs, 
as a senior adviser on women. 
Ms. Wiig said that whereas two 
years ago 8 percent of senior 
managers at the bank were 
women, the proportion was 
now 1 1 percent and the goal by 
1997 is to raise the level to 15 
percent. 

Ms. Pierey, by her own ad- 


mission, has wasted no time in 
using her position to press Lew- 
is T. Preston, the World Bank 


president, on a number of is- 
sues, including the need for 


more socially responsible lend- 
ing- “1 have pushed very hard 

for microcredits, loans for pro- 
ductive purposes at the grass- 
roots level, and the program is 
very close to announcement. It 
will be discussed at Madrid." 


Continued from Page 13 
tion facility, an IMF loan de- 
signed for former Soviet re- 
publics. 

An IMF official said that 
early in 1995 Ukraine would 
probably seek and, if it is still 
progressing with reforms, re- 
ceive a $1 billion IMF stand- 
by loan, and possibly a $500 
million contingency loan to 
help it cope with falling ex- 
ports. 

The World Bank, mean- 


while, could make available a 
$400 million rehabilitation 
loan plus up to $800 million 
of project loans. The Europe- 
an Bank for Reconstruction 
and Development could pro- 
vide Ukraine with a further 
$300 million. 

Aid from Western coun- 
tries, which is likely to be dis- 
cussed at a G-7 conference on 
Ukraine that is scheduled for 
Oct. 29, could total $1 billion. 

Separately, as thousands of 


bankers and government offi- 
cials began arriving here for 
the annual IMF and World 
Rank meetings, the heads of 
both institutions agreed that 
changes would be needed to 
meet the challenges of devel- 
opment in the next century. 

—ALAN FRIEDMAN 


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UPDATE 


UPDATE 


PLAYER PROFILE 


PLAYER PROFILE 



Annika Sorenstam 


Heme. Phoenix. A Z 


Years on the 
WPGET: 1 


v ictcnes 0 


Cateer Money: 
S 160.847 


The 

19 9 4 

Solheim Cup 


European Solbeim Citp Team 

1. Laura Davies 6. Irish Johnson 


2. Anmlto Swenslom 

3. Lkelotto Neumann 

4. Helen Alfredsson 

5. Lora Fair dough 


7. Alison Nicholas 

8. Cotrin Nilsmork 

9. Dale Retd 

10. Pom Wright 


r- Kathryn Marshall 




SOLHEIM 

tCUP- 

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JsV 

>:»ii :!■"•■ 

USA * EUROPE 

> I lie 


October 21-23.10^ 


Coming 


in THE 

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ON 


Friday 

October 2 1 st 


A Special 
Supplement 


on 


The 1994 
Solheim Cup 



Betsy King 


Home: 
Limekiln. PA 


Years on the 
LPGA Tour: 17 


Victories: 29 


Career Money: 
S4.6S5674 


The 

19 9 4 

Solheim Cup 


Standing as of Sept. 16, 1994 

6. Both Daniel 

7. B roadie Burton 

8 . Sherri Slemhauer 

9. Meg Mdon 

10. Mkhefle McGann 


]. Betsy King 
L Donna Andrews 

3. Doltie Module 

4. Pally Sheehan 

5. Tommie Green 




lijii 



USA • EUROrE 


Thk- 


October 2 1-23. 1 904 



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CORPORATE SPONSORS 

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China Berates 

t 

Japan lor Plan 
To Limit Exports 


i Agaice Fnmee-Presse 
[BEIJING — China lashed out 
at< Japan's plans to restrict Chi- 
nese textile imports, warning the 
move would harm trade ties and 
thht Beijing would be forced to 
retaliate, a report said Thursday. 

["If Japan sticks to its guns 
and comes up with unilateral 
restrictions on Chinese textile 
exports, it would only harm bi- 
lateral trade," the China Daily 
quoted an official as saying. 

["China will not accept the 
restrictions and will be obliged 
id respond” he said, adding 
th[at fast-growing textile exports 
were a major commodity for 
China to balance its large trade 
deficit with Japan, 

Japan is considering mea- 
sures to control imports of Chi- 
nese textiles that undercut do- 
mestic producers. 

The Chinese sensitivity over 
the textile issue, which has previ- 
ously received little attention, 
comes amid a dash between the 
two countries over the upcoming 
Asian Games. 

Diplomats said Japan had 


emerged the victor in the squab- 
ble over the presence of Taiwan- 
ese officials at the games, adding 
that while the dispute was super- 
ficially about sports, it was root- 
ed in the resentments and ambi- 
tions harbored by two 
traditionally rival countries. 

"Japan should not return to 
the pattern of trade skirmishes, 
like it has with the United 
States," the China Daily report 
quoted Wei Xiaorqng, the coun- 
try's trade representative in Ja- 
pan. adding that it should in- 
stead engage in “friendly 
negotiations." 

The newspaper attributed the 
growth of Chinese textile ex- 
ports to the country’s low pro- 
duction costs and Japan's mar- 
ket potential. Many exported 
textiles are made by Japanese 
companies operating in China, 
officials said. 

Japan-China trade was worth 
$20 billion in the first half of the 
year, up 322 percent over the 
like period in 1993, and officials 
forecast that it would total be- 
tween $45 billion and $50 billion 
for all of 1994. (AFP. AP) 


Victim of Its Own Success, 
Manila Wants to Curb Peso 

Agatce France-Presse 

MANILA L- Congress and cabinet members met here Thurs- 
day to discuss measures to slow the appreciation of the Philippine 
peso, which is of major concern to expoi icrs here. 

For much of the month the dollar has hovered at a little over 25 
PhiTipnipg pesos. Last year, the dollar averaged 27.12 pesos, 
according to the Cielito Habito, the economic pl anning secretary. 

Exporters, who say the strong peso has caused them massive 
losses, have threatened to mount a strike, keeping some of their 
dollar earnings abroad to force the peso down. 

Mr. Habito said the strength of the local currency was due to 
increased foreign confidence in the Philippines. "Foreigners are 
putting their dollars into the economy because they expect it 
would be doing well in the future." 

Mr. Habito said the government's position was to "let the 
market determine," the exchange rate but added that the me 
"should not be overly volatile.” 

He and other officials said one proposal, which got wide 
support, was a suggestion to phase out a special foreign-exchange 
allocation for oil imports. This would force oil companies to buy 
dollars in the market, increasing the demand for the dollar. 

Jose De Venecia, the house speaker, said Parliament was also 
considering other measures to help exporters in the face of the 
strong peso, such as paring terms on dollar loans and the creation 
of an export-import bank. 


China Tempts Brewers 

But Tapping This Market Is Not Easy 


Bloomberg Business Mem 

HONG KONG — Making beer for Chi- 
na’s 1.2 billion people is a templing prospect 
for the world’s major breweries. Making a 
profit will take perseverance. 

The market and its possible rewards are 
plain to see. With sales growing by 20 percent 
a year, China is already the world’s second- 
largest beer producer, outranked only by the 
United States. 

Since the country’s rate of consumption 
lags far behind that of its Asian neighbors, 
there is plenty of room for growth. 

“Current per capita beer consumption in 
China at 10 liters is only a quarter of Taiwan's 
40-liter figure," said Sonja Jong, an investment 
analyst at Mees Pierson Securities Ltd. "The 
Chinese market can realistically quadruple." 

Such prospects have already persuaded the 
makers of name brands such as Heineken, 
Foster’s, Carlsberg, Beck's and Budweiser to 
find Chinese partners and start developing 
brewing projects in China. 

Local production by more foreign brewers 
seems inevitable: a 120 percent tariff on beer 
imports gives domestic brands a big advantage. 

Various difficulties have emerged for brew- 
ers, ranging from shortages of raw materials, 
to poor distribution and unfavorable foreign 
exchange controls. 

Analysts say the best foreign performers so 
far have been the Carlsberg and San Miguel 
brands in Guangdong, a booming province 
that borders Hong Kong. 

"Beer is a perishable product which poses 
transportation problems," said Emi Y ama - 
saki, manager of corporate development at 
China Strategic Investment Ltd. 

China Strategic, which is based in Hong 
Kong, operates five breweries in C hina with an 
aggregate annual capacity of about 500,000 
tons, making it the country’s largest brewing 
grow, with 3.8 percent of yearly production. 

"China’s beer industry has always been 
fragmented because of transportation prob- 
lems," Ms. Yamazalti said. 

Foster’s Brewing Group Ltd. of Australia is 
selling only to certain local markets right now 
because of distribution concerns. 

“As we develop our brand portfolio, we 
want to distribute to other parts.” Peter Wil- 
liamson. chief executive officer of Foster's 
Asia, said. “We see ourselves as being there 
for the long term, building large breweries for 
the Chinese market” 

Unless foreign breweries can start export- 
ing from China, the only way they can gener- 
ate foreign exchange is to go to the official 
swap markets with their local currency earn- 
ings. These markets have sometimes been 
plagued by hard currency shortages. 

"The incentive is the ultimate belief that one 
day there will be no exchange controls." Philip 
Day of Pacific Rim Consulting Group said. 

The problem is complicated by the fact that 
the companies have to pay for imports of 
malt, hops and barley with hard currency. 


The companies clearly need to develop do- 
mestic sourcing to keep their foreign ex- 
change costs down, analysts said. 

"If you prqject Forward, the demand for 
raw materials is going to keep growing.” Mr. 
Day said. 

Foster’s has started to address the problem. 
"We import some raw materials but find that 
local hops are fine,” Mr. Williamson said. 

Pleasing the Chinese palate is also proving 
hard for some foreign brewers, according to 
Ms. Yamazaki of China Strategic. "From our 
experience, the major factor is taste, since 
Chinese consumers are used to light beers.” 
she said. 

"There’s nobody with an ale in there.” Mr. 
Day agreed. “By and large, the beer in China 
is quite light” 

Foster’s, which has acquired breweries in 
Shanghai and Guangdong with a combined 
capacity of about 140,000 tons, does not brew 

With sales growing by 20 
percent a year, China is 
already the world’ s second- 
largest beer producer. 

its own brands in China. For now, the compa- 
ny produces local beers already on the market. 

"Producing Foster’s in China is a long-term 
aim, " Mr. Williamson said. 

Beer has essentially been a cottage industry 
in China, and the arrival of foreign competi- 
tion is expected to trigger a shakeout, analysts 
said. There are about 860 breweries nation- 
wide, but most are too small to take advan- 
tage of economies of scale and make foreign 
investment viable. 

“Most of the breweries have an annual ca- 
pacity of less than 50.000 tons," Ms. Y amazaki 
said. “There are only about 10 to 15 breweries 
in China with a capacity of 100,000 tons." 

Even Tsingtao Brewery Co., which makes 
China's best-known beer,’ has captured only a 
2.4 percent market share. It will produce 
between 3 1 0,000 and 340,000 tons of beer this 
year. “And Tsingtao is probably China’s best- 
distributed brand of any product,” Mr. Day 
of Pacific Rim said. 

Tsingtao has embarked on a massive ex- 
pansion program designed to raise output to 2 
million tons by 2000, when it aims to have a 
10 percent market share. 

There has already been one casualty in 
Shanghai. Ding Shah Brewery was forced to 
close its doors earlier this year because of 
fierce competition. 

Four of the five remaining breweries in 
Shanghai are joint ventures with foreign com- 
panies. including Dutch brewer Heineken NV 
and Foster’s Brewing of Australia. 

"Ullimately, we could see 10 to 15 brewing 
groups emerge in China." Mr. Day said. 


Page 19 

ASIA/PACIFIC 


Plantation 
Seeks to Buy 
Malaysia’s 
Bumiputra 

Agenee France- Prase 

KUALA LUMPUR — A 
small, publicly traded planta- 
tion company has bid to buy 
Malaysia's second-largest state- 
owned commercial bank, 
spokesmen said on Thursday. 

Ayer Molek Rubber Co. has 
submitted an application 
through the prime minister's 
department to buy Bank Bumi- 
putra Malaysia Bhd. 

The bid for Bumiputra was 
made known to the Kuala Lum- 
pur stock exchange late Wednes- 
day. It came after two other 
companies, the Landmarks Bhd. 
real estate concern and a finance 
business, Idris Hydraulic, denied 
reports they bid for the bank. 

Twice rescued by the govern- 
ment from collapse after a 1984 
loan scandal in Hong Kong, the 
bank made a turnaround last 
year with a 45 percent surge in 
group pretax profit, to 450.1 
million ringgit ($176 million). 

Ayer Molek is seeking the Fi- 
nance Ministry’s approval under 
the local Banking and Financial 
Institutions Act to buy the bank, 
which is 99.9 percent govern- 
ment-owned. The banking law 
requires all prospective buyers of 
local banks and finance compa- 
nies to obtain approval from the 
Finance Ministry before begin- 
ning negotiations. 

If the deal is approved, bank 
assets, totaling 29.7 billion ring- 
git on March 31, would be in- 
jected into the plantation com- 
pany through a reverse 
takeover, the sources said 

The bank, with a network of 
164 branches, has been a tradi- 
tional lender to members of 
Prime Minister Mahathir bin 
Mohamad's United Malays Na- 
tional Organization. 

The bank would be “a strate- 
gic acquisition as any company- 
buying it will directly wield in- 
fluence over business dealings" 
of the United Malays National 
Organization, an analyst with a 
Kuala Lumpur brokerage said. 

Set up in 1965 largely to pro- 
vide aid to indigenous Malays, 
called Bumipuiras. the bank 
was was rocked by a scandal in 
1984 involving’ huge loans 
granted by its Hong Kong sub- 
sidiary, Bumiputra Malaysia 
Finance, to the collapsed Car- 
nan Properly Group. 


Investor’s Asia 


Hong Kong 
Hang Seng 
HOOD : 

10000 :- 


Singapore 
Straits Times 


Tokyo 
Nikkei 225 


2400 — aon-~ 

2300 -kA *-- 21009 — i/1 


- 19000 — 1 


A M.J J A 9 

1994 


Exchange 


Hong Kong Hang Sang 

Singapore StraitsTimes 

Sydney ■ All Ordinaries 

Tokyo Nikkei 225 

Kuala Lumpur Composite 

Bangkok : SET 

Seoul Composite 

Taipei . . Weighted P 
Manila PSE .. ’ 


'TfTs 8 

M J' 

1994 

Thursday 

Prew; 

Close 

Close 

9.70021 

9,693.49 

2,348.90 

2330.69 

2,030.60 

2,014.20 


Change 


19,615.12 19,507-60 +0.55 


1,133.68 

1,482.12 


Jakarta 


Composite Stock 1,037.95 

Weighted Price 7,101-13 

PSE.. 2,397.96 

5 took Index 497.24 


New Zealand NZSE-40 
Bombay National Index 

Sources . Reuters. AFP 


2,897.96 

497.24 

2,072.55 

2,071.75 


1.140.03 -0.63 

1,493.67 -0.77 

i.039.79 -aie 

7,102.10 -0.01 

2,377,69 +0.70 
502.13 -0.97 

2,068.60 +0.19 

2,094.30 -1.08 

IiuciulK4i.il IkreVJ Tnhnur 


Very briefly: 

• Videsh Sanchar Nigam Ltd.. India's overseas telecommunica- 
tions monopoly, is preparing to re-launch its Euroissue next 
month at a reduced price and issue size, according to banking 
sources. It withdrew a SI billion issue in May. 

• China’s industrial output is expected (o grow by more than 15 
percent this year, an official report said Thursday; exports and 
retail sales should grow by 20 percent each, and investment is 
expected to grow by 14 percent. 

• Japan’s industrial output in August rose by 3.S percent from 
July, when it had fallen by 1 .7 percent. 

• The Stock Exchange of Thailand will admit new brokers for the 
first time in three years starting Jan. I. The seats will cost 300 
million baht ($12 million). 

• NHK, the Japanese national broadcaster, conducted a survey on 
organized crime; 23 percent of 205 companies said their execu- 
tives had received threats from mobsters. AFP. ap, Bk<amber& Reuters 


Australian Deficit Hits a High 


Compiled by Our Sta ff From Dispatches 

SYDNEY — Australia's cur- 
renL-account deficit reached a 
four-and-a-half-year high in 
August, data showed Thursday. 

Analysis said the gap was a re- 
sult of surging imports, a sign 
the economy was growing fast e- 
nough to spur inflation. This led 
to fear of an interest-rate incr- 
ease by the central bank, which 
might try to reduce demand. 
Meanwhile, a drought in eastern 
Australia eroded exports. 

The current-account deficit. 


which measures trade in goods 
and services, rose IS percent in 
August, reflecting a 7.1 percent 
leap in imports, compared with a 
2 percent rise in exports. The 
deficit was the highest since Jan- 
uary 1990. 

The numbers strengthened 
calls by economists for curbs on 
government spending. 

The deficit rose to 2.14 billion 
Australian dollars ($1.58 billion) 
in August, after seasonal adjust- 
ment, following a 36 percent 
surge in July, to 1.8 1 billion. 

(Reuters. Bloomberg. AFP) 


Singapore Airlines 

•ALL AROUND THE WORLD- 







IS 




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Page 20 


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INTERNATIONAL HERALD TRIBUNE, FRIDAY, SEPTEMBER 30, 1994 

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Good news out of Africa comes, 
surprisingly, from a landlocked, semi- 
desert area on the once-troubled 
borders of South Africa. The 1.4 
million inhabitants of Botswana can 
look back on 28 years of 
independence, which brought stable 
democracy and strong economic 
growth (thanks to the discovery of 
diamonds), and can look forward to a 
new era of regional cooperation 
following the birth of a democratic 
South Africa. 


In the 1980s. Botswana had an average economic growth rate of 10. 1 percent, the highest in Africa . 



For further information and inquiries un Botswana, 
please contact the following ministries: 


Information & Broadcasting: 

Tel.: (09267) 352-541 
Fax: (09267)352-971 
Private Bag 0060 
Gaborone. Botswana 


Commerce Dept, of Trade & Investment: 
Tel.: (09267)351-790 
Fax: (09267)305-375 
Private Bag 004 
Gaborone. Botswana 


Finance: 

Tel.: (09267) 350-252 
Fax: (09267) 356-086 
Private Bag 008 
Gaborone. Botswana 


JL he Republic of Botswana has much to celebrate on Sep- 
tember 30, the 2Sth anniversary of its independence. It is one 
of the tew countries in Africa that has kept a democratically 
elected government since independence and has remained at 
peace, both with itself and the world at large. 

Botswana never experimented with Marxism and enjoyed 
an average economic growth rate of 10.1 percent during the 
1980s. the highest in Africa. Growth is expected to drop to 
about half this level during the current decade. 

Botswana owes its internal stability partly to the fact that 
95 percent of its people belong to one ethnic group, the 
Botswana. They speak the Tswana language, but English is 
the official language of (he country . 

Botswana's independence dales hack to (he ISSUs. when 
the Batswanu chieftain. Khama III. asked Britain to declare 
the country that was tlien known as Bcchuanaland a British 
protectorate. The aim was to protect ils peoples against the 
ambitions of Cecil John Rhodes of (he Cape Province and 
Paul Kruger of the Transvaal, and front plundering Boers 
and other Africans. 

The protectorate of Bcehuanalaiid lvcame (he indepen- 
dent Botswana in 1^06. with Sir Sere l sc Khama. a descen- 
dant of Khama III. as ils llrsi pivsidenl. After his death in 
1980. he was succeeded by his vice president. Sir Kctumile 
Masire. who has remained in office since then. His 
Botswana Democratic Party was re-elecied in I *>84 and 
1989 and is expected l«i win die next general elec I ion by a 
smaller but still eon Nona hie margin. Opposition conies from 
several small parties critical of (he ruling party's tight rein on 
government spending. 



the first democratically elected government in South Africa. 
Botswana always opposed the apartheid ideology, but was 
economically and. to some extent, politically dominated by 
its powerful neighbor. Landlocked Botswana has always re- 
lied on South African seaports and gels 80 percent of its im- 
ports from South Africa. • 

Botswana refused to allow guerillas to establish bases 
w ithin its borders- for attacks on South Africa, bui it did give 
shelter to political refugees. This attracted raids into 
Botswana's territory by South African armed forces. 


Low population density 

Covering an area of 588.000 square kilometers (224.71 1 
square miles). Botswana has a population of only 1.4 mil- 
lion. which makes it one of the least densely populated coun- 
tries in the world. Originally a pastoral economy and one of 
the poorest in the world. Botswana owes its recent economic 
growth to the discovery of diamonds after independence and 
the increasing exploitation of this resource. The slowdown 
in the economy since 1990 reflects the state of the world 
market for diamonds. This has added impetus to government 
programs that encourage the expansion of other sectors of 
the economy. 

The scene has changed this year because of the advent of 


International cooperation 

Botswana is u member of the Southern African Develop- 
ment Community, whose headquarters are in Gaborone, 
capital of Botswana. Founded in I^Xt) us (he South African 
Development Coordinating Conference, this group of 10 
countries - Angola. Botswana. Lesotho. Malawi. Mozam- 
bique. Namibia. Swa/iland. Tanzania. Zambia and Zimbab- 
we - was dedicated it* promoting economic cooperation 
among members and adducing their economic dependence 
on South Africa. On Sept. 2S. E K 4. however, the new de- 
mocratic South Africa became a member of S A DC. (bus 
making it community of economic cooperation. 

Tile clYccis of this on Botswana's economy are diflieuli lo 
predict. Botswana was one of the lew countries sjxvilieally 
exempted from applying sanctions lo South Africa, which 
means that trade is not likely to increase significantly' Soiith 
Africa lias long bought beef from Botswana. and Botswana 
has imported a host of manufactured goods from South 
Africa. The Botswana government has long been in partner- 
ship with South Alric:ui companies in ils biggest industries - 
diamonds, nickel and copper - and in soda ash. 

South Africa's opportunities lor doing business wilh 
SADC members will he enhanced hv the organization, and 
(his could increase competition in markets that a new gener- 
ation of Botswanan manufacturers is seeking to exploit. 
Negative effects may be mitigated by the fact that South 
Africa is keen to promote economic growth in the region, if 
only to reduce the flow of illegal immigrants from ils poorer 
neighbors. It could assist this process by forming joint ven- 
tures between its own companies and those of oilier SADC 
members similar to joint ventures that already exist in 
Boiswana. If successful, these would enlarge opportunities 
for Botswana’s manufacturers. 




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AFRICA 


BOTSWANA 


Easier Investment 


Reform of hurcacratic rules helps husmcss/jjcoplc.- 


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urcaucralic delays that hampered investment in 
Botswana are a thing of the past, says Dihalengi T.shcko, di- 
rector of the Department of Trade and Investment Promotion 
(T1PA). : ' 

“Businessmen were sometimes frustrated by the lime it 
took to get licenses and work and residence pejrmits for ex- 
patriates.'* he says. "The allocation of suitable industrial land 
also took time. TIPA is working with the Department of 
Home Affairs and other government departments to elimi- 
nate these bottlenecks. It could be that we will open an office 
that will allocate serviced sites to new investors and also at- 
tend to other paperwork required by government." 

This is one of the options being considered in the restruc- 
turing of TIPA now taking place. The Botswana Develop- 
ment" Corp. is conducting an investigation to identify areas 
of comparative advantage in the economy. When it is com- 
pleted. TIPA’s efforts in promoting investment and trade 
will become more focused, Mr. Tsheko says. < 

“We export beef and raw hides,” he says. “But we could 
add more value by expanding our processed meat industry 
and by producing leather garments and leather upholstery 
We produce soda ash that others use in the glass and chemi- 
cals industry and precious .stones that others make jewelry 
from. These are possible investment opportunities, but we 
must be confident of finding export markets as our local 
market is too small." 


The people of Botswana: 

A Hereto woman ( top left), 
and two youths displaying 
their skill at fishing. 
Animal life: The sight of an 
elephant (top right) is one 
the main attractions of the 
game parks, and a statue 
(bottom, left) 
celebrates the main 
agricultural export 
The resources: Botswanans 
tram to sort and value 
diamonds (middle of the page). 

which come from the ore 
hauled from the rich deposits 
( bottom , right). 


Diamonds Are Botswana’s Best Friend 


Tax holidays offered 

Among the incentives offered to investors under TIPA' s Fi- 
nancial Assistance Policy are tax holidays, labor training 
grants, and capital and sales grants. There is also a Local 
Preference Scheme, whereby local manufacturers supplying 
the government receive advantages over foreign suppliers! 

The effective nominal corporate tax rate was reduced this 
year from 35 percent to 30 percent, and a progressive liberal- 
ization and simplification of exchange controls is taking 
place. 

Botswana acceded to the principles of ihe General Agree- 
ment on Tariffs and Trade in 1993. This provides the coun- 


. r j i r on .. , , p . „ , „ try with better access to world markets but also i mooses 

tucms have mmsjonned the economy, accounting for 6U percent of the country s exports and providing 50 percent of government revenues. obligations to reduce protection and subsidies for its own in- 


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dustries. 


■otswanu is the world's 
biggest producer of gem- 
quality diamonds, which ac- 
count for SO percent of the 
country’s exports and 50 
percent of government rev- 
enues. 

Diamonds are mined by 
Dcbswana Diamond Co., a 
joint venture between the 
government and Dc Beers 
Centcnaiy. in which each 
holds equal shares. 

Diamond production 
climbed to a high point of 
nearly 17 million carats in 
1990. but fell to 14.7 million 
carats in 1993. 

This was mainly due to 
slackening demand in devel- 
oped countries and the ap- 
pearance on the market of 
smuggled diamonds from 


Zaire. Angola and Russia. 

In 1992. the Central Sell- 
ing Organization in London, 
to which Debswana sells all 
its production, imposed on 
its suppliers a 25 percent cut 
in output. This cut has since 
been reduced to 15 percent. 
Meanwhile, improvements 
to the mining plant should 
increase the group's possible 
carat production by 12 per- 
cent. 


Learning new skills 
Dcbswana is the largest sin- 
gle employer outside the 
government, with a staff 
complement of nearly 6,000. 
about 90 percent of whom 
are members of the 
Batswana ethnic group. 

Dcbswana owns the 


Botswana Diamond Valuing 
Co., which sorted 14.6 mil" 
lion carats of diamonds in 
1993. and the Teemane 
Manufacturing Co., a dia- 
mond cutting and polishing 
operation. Two foreign com" 
panies have also sefup dia- 
mond cutting and polishing 
facilities. 

“These operations are 
teaching local people new 
skills and are allowing as to 
milk the diamond cow at 
various stages between min- 
ing and retailing.” says 
Baled/.i Gaolathe. managing 
director of Dcbswana. 

The company runs three 
training centers that teach 
technical, managerial and 
accounting skills. Promising 
employees are sent abroad to 


institutions of higher learn- 
ing. . 


Reserves of copper nickel 
BCL. a company jointly 
owned in equal parts by the 
government and the Anglo 
American Corp.. exploits the 
country’s vast reserves of 
copper nickel ore. This em- 
ployer of 4,600 is facing dif- 
ficult trading conditions due 
to falling nickel and copper 
prices in 1993. The compa- 
ny is not operating at a profit 
but capital investment is 
continuing with the assis- 
tance of a loan from the Eu- 
ropean Union. There are 
signs of a recovery in com- 
modity prices. 

Soda Ash Botswana, a. 
joint venture of the 


Botswana government and 
the South African chemicals 
group AECL began produc- 
tion in 1992. It can. produce 
large quantities of salt and 
up to 300.000 tons of soda 
ash a year, about 80 percent 
of the requirements of the 
region. Soda ash is used 
mainly in the glass, metals 
and. detergents industries. 
Due to the stagnant South 
African economy and soft 
world prices, the plant is un- 
derutilized and experiencing 
cash flow problems. 

Botswana has one coal 
mine, which is operated by 
Anglo American Corp. The 
country has more than 
enough coal to meet its in- 
dustrial and power genera- 
tion needs for the future. 


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A tfofrfe roc/Vfy, an excellent infrastructure and a sound financial position are seen as creating an environment conducive to private-sector investment. 

PrasHfcnt of Botswana, answers of the recent national development plans and is the primary these projects. We have done this together with our partners 
questions on tne development of the country. objective of the current plan, NDP 7. It is our policy to allow because we share the view that medium- to long-term 
a swanats one of Africa s most economically successful market forces to identify suitable business opportunities and prospects remain good Our foreign reserves, taxation and 
ana politically stable countries. What is the secret of its sue - exploit them. However, we are making a considerable effort liberal exchange regimes, the deregulation of our economy. 


Botswana was able to formulate a development philoso- 
phy that was well understood and attracted support from the 
international community. We have implemented well-de- 
signed projects within rational development plans. We have 
managed our economy in a prudent manner, thereby ensur- 
ing that mineral revenues were not dissipated but reinvested 
in productive assets. We have pursued policies that created 
political stability within a multiparty democracy. 

What is the potential for increased investment in 
Botswana from South Africa and other countries? 

Excellent: Botswana is a stable society with excellent in- 
frastructure and a sound financial position. It has good ac- 
cess to the other markets of the region, including the Repub- 
lic of South Africa. It has a strong balance-of-payments po- 
sition which permits investors to repatriate their profits and 
capital whenever they wish. The capital market facilities are 
improving, and a new Stock Exchange Act has been passed 
that will provide investors with greater liquidity for their in- 
\) vestments. Tax rates are competitive with regional and inter- 
national rates. The government has placed its highest priori- 
ty on education and training for the labor force. Conditions 
are excellent for investors who wish to serve the Southern 
African market from a base in Botsw ana 
What are the most promising investment opportunities in 
Botswana? 

Botswana’s central location in the region makes it an ideal 
base for industries and services that serve the region. Light 
manufacturing, distribution and financial services, and pub- 
lishing and information services are excellent candidates for 
location in Botswana. Tourism and travel services are also 
natural industries that could make use of Botswana's abun- 
dant wildlife and game reserves. 

The economy is heavily dependent on diamonds. Are there 
plans for strengthening other sectors of the economy? 
Diversification of the economy has been a central theme 

Agriculture - a 
Realistic Policy 

Beef is the principal agricultural industry. 

IVIeasured in hard curren- Botswana Meat Commis- 
cy. agriculture is no longer sion coordinates the produc- 
Botswana’s major industry, tion of beef; operates abat- 
but it still provides a liveli- toirs and canning, tanning 
hood for the vast majority of and by-products plants; and 
the population. markets beef and beef prod- 

Many are subsistence ucts abroad, 
farmers, but the government Sorghum is the country’s 

is helping them to develop primary arable crop, 
sustainable commercial It has been established 
farming activities based on that climatic and soil condi- 
, sound environmental man- tions do not permit 
agement. In some circum- Botswana to produce 
stances, the government enough food to feed all its 
. suppIiesTree seed and finan- people. The country's agri- 
cial grants for plowing to cultural policy thus empha- 
help them get started on new sizes the promotion of viable 
crops. ’ ‘ farming operations and the 

Beef is the principal agri- avoidance of those that re- 
cultural industry. The quire uneconomic subsidies. 


to create an environment conducive to private-sector invest- 
ment. We have maintained a strong fiscal discipline. We 
have developed an infrastructure of roads, airports, telecom- 
munications, water and power supplies that we believe are of 
international standards. Most important, we are orienting our 
education and training system to prepare our young people 
for the kind of work that a modem economy will offer, we, 
therefore, believe that both foreign investors and local entre- 


“The mining sector has been developed with capital 
and technical expertise from a number of local and 
international sources in joint ventures 
with the government of Botswana . ” 


preneurs can have confidence in locating in Botswana to ser- 
vice the regional market 

Some critics write off Africa as a lost cause. What assur- 
ance do potential investors have that Botswana’s internal 
peace and economic growth is likely to continue? 

It is now 28 years since we became independent and dur- 
ing this period we have been known for our peace, stability 
and trustworthiness. We have reaped great dividends from 
remaining as such and have learned from events elsewhere 
in the world that development and prosperity can be assured 
only when internal peace prevails. 

The world economy is at present going through a reces- 
sion, and some of our projects - like the Sowa and Selibe- 
Phikwe mines - have experienced some difficulties. We are 
in partnership with international companies in these projects. 
The fact that we have not jettisoned our partners during these 
difficult times should be an assurance to potential investors. 
You must bear in mind that during these difficult times, we 
have been ready and willing ro inject additional fonds into 


liberal exchange regimes, the deregulation of our economy, 
our geographical centrality within Southern Africa and a 
highly developed infrastructure should reassure investors of 
our enormous potential. 

Do you foresee more economic cooperation between 
Botswana and South Africa? 

There are opportunities for joint ventures, as indeed has 
been the case in the past. You will note that the economic 
sector of mining (diamonds, copper, nickel and, lately, soda 
ash) has been developed with capital and technical expertise 
from a number of local and international sources, including 
South Africa, in mutually beneficial ventures with the gov- 
ernment of Botswana. Similarly, a significant number of 
commercial and industrial businesses of South African ori- 
gin are operating in Botswana under joint-venture arrange- 
ments. We would expect such joint ventures to increase. 
There is increased scope for collaboration and joint ventures 
between the parastatal companies of both countries follow- 
ing the democratization of South Africa. 

Such links could be in the utility sectors of water, electric- 
ity, power and transport (railways, for example), with a view 
to exploiting economies of scale in production. This collabo- 
ration could be even more beneficial if developed at a re- 
gional level, including the whole of Southern Africa within 
the context of SADC. Progress in this regard has already 
been made in linking power, telecommunications, transport 
and communications between Botswana and Zambia, Zim- 
babwe, Namibia and South Africa. We can accelerate this 
process of regional integration to our mutual benefit. 

Does Botswana fear South Africa ’s economic or political 
domination of Southern Africa ? 

No. This was the aim of South Africa during the era of 
apartheid, which terrorized citizens and destabilized the 
economies of neighboring countries. The new SouLh Africa 
is determined to establish mutually beneficial relations with 
other countries in the region. The recent accession of South 
Africa to SADC bears testimony to this. 



Controls Eased 

Rate of inflation will determine new liberalization. 

T'he government of Botswana believes in positive in- 
terest rales, a stable financial system, an equitable tax 
structure and sound fiscal policy. 

The authorities have, however, not always been able 
to maintain positive real interest rates, largely because 
inflation has for some years averaged between 10 per- 
cent and 16 percenL But there ore now added incentives 
because the government has committed itself to liberal- 
ization of exchange control. Such a move will greatly 
enhance Botswana’s attractiveness to investors. 

The government has announced that it intends to 
adopt Article 8 of the International Monetary Fund's 
Articles of Association, which calls for the removal of 
restrictions on certain international transactions. 

The government realizes that it cannot do this unless 
interest rates exceed the inflation rate; if they do not, 
capital will flow out of the country in search of better re- 
turns as soon as restrictions are lifted. 

South Africa, which is the dominant partner in the 
Southern African Customs Union, to which Botswana 
belongs, has also signaled its intention to abolish ex- 
change control. 


;V : : - ! 

m 

v 





Making the most of difficult conditions: The dry and stony agricultural land is nevertheless able to support herds of cattle (above), and cocoa tins ate ingeniously recycled into building materials (below). 


s ; ; -v 


BOTSWANA'S PROJECTED GROWTH 

liese fwo Idbksshow fha projected growth between 1990 
cmd^iXMef g ovmnm o i ri mvenuotmdofreal GDP per capita. 

Told Government 

Year ... Revenues 

(Pula millions) 

1990 ; 3741 

1991 v 4069 

- 1992 - 4614 

1993 ' 4758 

5041. 

5713 c i . 



Real GDP 
per capita 

(Pula) 

5707 

5855 

5776 

5707 

5897 

6017 

63 

•*. . ^259 

\.3ir 

fe-.X • «27l: A ! 

6280 'Va*'. 


The Challenge of Change 

New engines for growth are being sought from manufacturing and services to 
replace revenue from diamonds, which has been falling in recent years. 



Botswana stands at a crossroads. Thanks 
to the discovery of rich diamond deposits af- 
ter independence, the country enjoyed unin- 
terrupted economic growth of more than 10 
percent a year between 1 98 1 and 1 99 1 . 

The increase in the production of dia- 
monds by the new mines doubled the per 
capita income of one of the poorest coun- 
tries in the world, transforming it from an 
agriculture-based economy to one in which 
diamonds account for 80 percent of exports 
and 50 percent of government revenue. 

Expectations high 

LBul diamond production cannot keep grow- 
• ing indefinitely, and population growth is 
about 3.5 percent a year. Weak demand for 
diamonds in the early 1990s forced produc- 
tion cutbacks even while new capacity was 
being made ready to come on stream. 

Economic growth since 1992 has been 
, about 2 percent a year, but unemployment 
has risen from 14 percent to 20 percenL 

In a country grown accustomed to nouce- 
i able improvements in the standard of living 
r over more than a decade, the government is 
under pressure to find new ways of satisfy- 
ing the expectations of its people. 

While revenues from diamonds grew, it 
was easy to spread wealth around by enlarg- 
ing ibe civil service and increasing govem- 
‘ mem expenditure on public services. 

But as the Ministry of Finance s review of 
the Seventh National Development Program 
puts iL “When the diamonds sector grows at 
less than 3 percent a year, growth of govern- 


ment services per capita will stagnate.” The 
review continues: “Botswana needs new en- 
gines of growth to replace the diamond rev- 
enue and government expenditure. . . They 
will probably come from manufacturing and 
services, but no one can predict exactly 
which products or services will develop 
comparative advantages.” 

Strong reserves buBt up 
The hunt for growth industries is now on. 
This is no different from what is happening 
in many other developing countries, but 
Botswana has advantages enjoyed by few. 

The government has had a surplus on its 
budget for years. This surplus is expected to 
turn into a deficit of only 1 7 million pula ($6 
million) next year. By the year 2000. the 
deficit is expected to rise to 719 million 
pula, or 6.4 percent of gross domestic prod - 
UCL 

This is a low figure by African standards - 
South Africa’s budget deficit is currently at 
that level. 

Another strength of Botswana is its for- 
eign exchange reserves, which are sufficient 
to cover about 20 months of imports. Even 
by the financial year ending in 1997. re- 
serves are expected to be sufficient to pay 
for more than 15 months of imports. 

Botswana has the gift of some years in 
which to identify its new engines of eco- 
nomic growth and the means lo activate 
them before there is a danger of the country 
being overtaken by the poverty that stalks 
much of the continent. 



“Botswana" 

was produced in Us entirety by the Ache ni sing Department of the International Herald Tribune, 
h was sponsored by the Government of Botswana and the display adsertisers. 

Writer. - Curt iw? Keyserlingk is based in Johannesburg. South Africa. Program director: Bill Mahder, 


Sheraton Gaborone 


Botwana Technology Centre... 

discovering, producing and promoting Technology appropriate for Botswana. 

Specialist staff and committed responsbflity have made us a leading Centre involved 
in technology development and assessment and information dissemination.. .just the 
climate of opportunity for anything needing assistance and advice. 


BUILDINGi/CONSTRUCTION 
COMPUTER TECHNOLOGY 
ELECTRONICS 
FOOD PROCESSING 
RENEWABLE ENERGY SYSTEMS 


BOTSWANA TECHNOLOGY CENTRE 


For further information please contact: 
The Managing Director 
Botswana Technology Centre 
Private Bag 0082 - Gaborone 
Tel.: 314161 
Fax: 374677 


TECHNOLOGY ASSESSMENT 
INDUSTRIAL DEVELOPMENT 
TECHNOLOGY INFORMATION 


HOTEL 


In GABORONE on business 
stay at the Sheraton! 

12 minutes from the Airport and 4 kilometres 
from the city centre. 

All rooms are airconditioned and equipped with 
a millibar/ seif-dial phone, hairdryer, TV (with 
in-house movies) and 24rhour room service. 

A Business Centre service is also available with 
boardroom and conference facilities. 

The Sheraton has a gymnasium, floodlit tennis 
courts, saunas, a squash court, pool and jogging 
track. 


Hold: Tel. (267) 312-999 - Fax (267) 312-989 
or via our Reservations office 
ill lahtnineshurg: 

Tel. (Oil) 788-5438 - Fax (Oil) 880-6228. 


ERIC nOBERT/BYLVlE BERGEROT 
















j.- 






Page 22 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, SEPTEMBER 30, 1994 


I 





House Panel Deals 
A Blow to Baseball 
Antitrust Exemption 


The Associated Press 


Washington — The 

House Judiciary Committee 
voted Thursday to eliminate 
baseball's antitrust exemption 
if owners unilaterally impose 
work rules such as a salary cap. 

The voice vote marked the 
first time a congressional com- 
mittee has taken action against 
the exemption, which was creat- 
ed by a 1922 U.S. Supreme 
Court decision. 

“I think we want to pul this 
league and the players on notice 
that the antitrust exemption 
they enjoyed is on its death- 
bed," said Representative Mike 
Synar, and Oklahoma Demo- 
crat who is the bill's sponsor. 
“Its a very narrow, straightfor- 
ward approach to give players 
their day in court so we can end 
this strike.’' 

The measure now goes to the 
full House for consideration. In 
order to become law, it would 
need to pass both the House 
and the Senate. 

The ranking Republican on the 
committee, Hamilton Fish Jr. of 
New York, opposed the measure. 

H I continue to be concerned 
about the necessity for taking any 
action.” Fish said. “In my judg- 
ment, the Congress should not 
intervene in an ongoing collective 
bar gaining dispute unless a na- 
tional security issue is involved." 

The fate of the bill is unclear. 
The congressional leadership 
has said it hopes to adjourn the 
session by OcL 7. 


The bill would give baseball 
players the same legal status as 
athletes in other sports if owners 
unilaterally impose work rules. 

The bill to partially remove 
baseball's antitrust exemption 
had cleared its first hurdle 
Wednesday, but even then the 
players' association wouldn't 
say whether the legislation 
could bring an end to the strike. 


Two key provisions that the 
union had wanted were deleted 
before Wednesday’s vote. The 
first eliminated what amounted 
to an automatic injunction 
against a salary cap until any 
lawsuits are decided. The sec- 
ond left it up to the courts to 
determine whether the union 
would have to decertify before a 
suit could be heard — a tactic 
forced on National Football 
League players when they sued 
after their 1987 strike. 

Donald Fehr, the head of the 
players' association, testifying 
before the subcommittee last 
week, promised that if the origi- 
nal bill by Synar became law, 
players would end the strike, 
which began Aug. 12. 

Another House panel, the 
Education and Labor subcom- 
mittee on labor-management 
relations, began a hearing 
Thursday on a bill by Represen- 
tative Pat Williams, Democrat 
of Montana, that would impose 
binding arbitration if players 
and owners don’t come to an 
agreement by Feb. I. The arbi- 
trator would select the final of- 
fer of one side. 



NHL Players Plaft i 
Mutual Guarantees 


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The Associated Pnss 

NEW YORK — National 
Hockey League players are 
promising not to strike during 
the season and playoffs if the 
league wll guarantee there will 
be no lockout, The Canadian 
Press reported Thursday. 

A source dose to the negotia- 
tions told the news agency that 
the union hoped the offer 


the union hoped the oner 
would break the stalemate in 


contract talks. The two sides 
have been without an agree- 
ment since SepL IS, 1993. 

The NHL Players Associa- 
tion was to announce the pro- 
posal at a news conference later 
Thursday in Toronto attended 
by several high-profile players 
including Wayne Gretzky. 

“We will have no comment 
until the commissioner speaks 
to the board of governors to- 
day," said the NHL’s spokes- 
man, Arthur Pincus. The 
league’s governors had a con- 
ference call planned for 6 P-M. 
in New York. 

Commissioner Gary Bettman 


has said he wants an agreeing 
in place by Saturday or he 

S stpcme the start of the seasgg 
e has repeatedly said g 
doesn’t want hockey to 
self in the same position: « 
baseball where players go .si 
strike late in the season. . 

“Baseball started a. sea^ij 
that they couldn’t finish,” Bcf| 
man said when negotiation 
with the union broke off. ^ 
think that is the crudest form<| 
frustration for the fans. ■ -M 
“If we delayed the semong 
week and got an agreement,;! 
would be worth it" - ^ 
Players on Wednesday ngag 
ed the owners’ latest conttt® 
proposal and it appears th& 
only a last-minute ;brea§| 
through could save opening d#| 
on Saturday. . •*! 

“There is no question 'tMraj 
are serious problems," said Bm 
G ood enow, executive directed 
of the players association. 
“There arc some big, philospisg 
cal issues we're bogged down; 
with.” 


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Michel Potto/Agakre Frmce-PrCW 

Chinese women gymnasts during team practice for the Asian Games, winch are to begin Sunday in Hiroshima, Japan. 


Asian Games Athletes Sidetracked by Typhoon 


Driver Killed in Australia Qualifier 


Compiled by Our Staff From Daparcha 

KAGOSHIMA. Japan — 
Hong Kong’s last uip to the 
Asian Gaines as a British colo- 


ny got off to a rough start 
Thursday when a planeload of 
athletes was unable lo land in 
Hiroshima because of a ty- 
phoon. 

About SO members of Hoag 
Kong's 164-member team were 
spending the night in Kagoshi- 
ma because powerful winds buf- 
feting their plane had made it 
unsafe to land in Hiroshima. 

Hiroshima is not in the ty- 
phoon's direct path, and the 
rain associated with it was good 
news for the games. The rain 


Ex-QB Ward Signs 
With NBA 9 s Knacks 


By Clifton Brown 

New York Tunes Service 

NEW YORK — Charlie Ward, a rookie point guard the 
Knicks feel has significant potential signed a five-year, S4.6 
million contract and will report to training camp next week. 

Ward will earn 5575,000 this season, the salary slot vacated 
by Bo Kimble. 

Ward was the Heisman Trophy winner as the quarterback 
for Florida State’s football team last season, but he was also 
an outstanding basketball player for the Seminoles. averaging 
10.5 points and 4.9 assists as a senior. 

Bypassed in the National Football League draft this spring 
despite leading the Seminoles to the national championship. 
Ward has decided to devote his professional career strictly to 
basketball He has already shown some of his potential. He 
was named the most valuable player during the Doral Arrow- 
wood Summer League, averaging 12.S points and 6.8 assists 
for the Knicks. 

While Ward may not get significant minutes as a rookie, the 
Knicks indicate he has the potential to be their point guard of 
the future. Ward, 6 feet, 2 inches (188 centimeters) tall has 
excellent quickness and was a better shooter during the 
summer than the Knicks had expected. But as a rookie. 


filled courses for the canoeing 
and rowing events, guarantee- 
ing that they would go ahead. 

But the winds could further 
affect the schedules of flights 
bringing in athletes and major 
guests, mduding Juan Antonio 
Samaranch, head of the Inter- 
national Olympic Committee. 

“We are very much con- 
cerned,” said Takayoshi Fuku- 
shiraa, secretary-general of the 
games. 

The unscheduled diversion 
did not mean a break in training 
schedules for the Hong Kong 
athletes. Bill Sweetenham. Hong 
Kong's swimming coach, or- 
dered his squad to be up at 6 


A.M. Friday for training before 
taking a plane to Hiroshima lat- 
er in the morning. 

He said his swimmers had 
broken 1 1 Hong Kong records 
in the last three days, including 
a 56.66-second record Thursday 
by 17-year-old Robyn ijmsam 
in the 100-meter freestyle. 

Sweetenham, like many 
coaches, sees China as the big- 
gest challenge. He said the Chi- 
nese athletes had better disci- 
pline and financing than most 
competitors, though he asserted 
that the some of their swim- 
ming records were drug-assist- 
ed. 

“Even blind Freddie on the 


hotel comer could tell you that 
all things aren’t as they should 
be in mainland China," he said. 

China says it cooperates fully 
with the international drug- 
control regimen. 

A. de O. Sales, president of 
Hong Kong’s Olympic Com- 
mittee, said he didn't expect 
much change in the way Hong 
Kong takes part in internation- 
al events in 1997 except that 
medal winners would no longer 
hear the British national an- 
them on the medal stand. 

“Hong Kong doesn't have an 
anthem.” he said. M We'U have 
to compose one.” 

(AP, Reuters} 


BATHURST. Australia (Reuters) — Don Watson was kflM 
Thursday when his GM-Holden Commodore sedan blew a tu 
and hit a barrier at high speed during a qualifying round for th 
Bathurst Tooheys 1000, Australia’s premier touring car event. ; 

Watson was pronounced dead at a nearby hospital The ama 
teur driver veered off the track at an estimated 250 kilometers (15 
miles) per hour and careered out of control on the grass befes 
slamming into a tire wall at the Mount Panorama circuit s 
Bathurst . _ , . . w 

It was the third death in the 30-year history of the race: > 4 


W'' v -.-jet 


Eaton Retires After 11 Years in NBA1 


SALT LAKE CITY (AP) — Mark Eaton, the 7-foot-4 (22f| 
centimeter) center of the Utah Jazz who has been struggling with ft, 
degenerative bade ailment, has retired, ending an 1 1-year career ip 
the National Basketball Association. 

Eaton, 37, attributed the move to “lingering physical injuries^ 
The shot-blocking center’s career had in effect ended a year ago, 
when pain from deteriorating disks forced him to drop out of 
training camp and miss the 1993-94 season. 




Four times he won the NBA's shot-blocking title, ad 
Defensive Player of the Year honors in 1985 and 1989, the year jig 
made his only All-Star Game appearance. 

Benetton Offer Reported for Tracy . 

LONDON (Reuters) — The Canadian Indy car driver Paul] 
Tracy has been offered a three-year contract by Benetton, accdqH 
ing to Thursday's issue of a British motor sport magazine. v J 
Tracy, testing with the Formula One team in Estoril, Portugal) 
this week, was asked to sign the contract before he sat in the 
team’s car for the first time. Autosport reported. He was to drive] 
the Benetton on Thursday, when the world'chathpiodship leaaSrJ 
Michael Schumacher, was in Munich on personal appearan$i 
duties for the team’s sponsors. VJ 

The magazine said Tracy was believed to have been offered £5:4ij 
million ($8.5 million) over three years, subject to a satisfactory) 
test. • i 




Japanese Leagues 


NHL Preseason 


Central Lew™ 


Wednesday's Gomes 



w 

L 

T 

Pet. 

OB 

Detroit < Montreal 1 

Yomlurl 

*6 

59 

D 

.528 

— 

Tampa Bay X Florida 1 

Ctumictu 

66 

57 

a 

-528 

— 

Canary & Edmonton 5 

Hiroshima 

65 

63 

D 

JOB 

2Vj 

San Joee K Los Anodes < 

Yokohama 

61 

65 

0 

Mi 

5Vj 


Ha rah In 

61 

66 

0 

M0 

6 

. • . - j . 

Yakulf 

59 

65 

0 

.<72 

7 

. _ . . * _ X, 


Thursday's Results 
Yokohama e. Hanshln 7. 13 inning* 
Yakut! 5. Hiroshima 4 
Yamiurl vs. ChunknL mWL rain 
Pacific League 


playing time will be hard to come by. 
Ward will join Derek Harper, the ii 


Ward win join Derek Harper, the incumbent starter. Doc 
Rivers and Greg Anthony at the Knicks’ crowded point guard 
position. It is unlikely that New York win open the season 
with four point guards. Harper won the starting job last 



w 

L 

T 

Pet. 

OB 

So Ibu 

73 

50 

1 

sn 

— 

Kintetsu 

68 

S5 

2 

JSS2 

5 

Dalai 

67 

57 

1 

.540 

6Vb 

Orix 

66 

57 

Z 

J28 

8 

Latte 

52 

71 

1 

A23 

21 

Nippon Ham 

44 

7B 

5 

361 

2HVS 

Thursday's Results 



Nippon Ham 11, 

LOtte 6 




Orix vs. Kintetsu, apd, rain 



Sribu vs. Datel. ppa, rain 





season with bis strong finish. The likely scenario is that Ward 
wiU be developed slowly as the No. 3 point guard, leaving 
either Anthony or Rivers to be traded. 






FIRST TEST 
A infra Da vs. Pakistan 
Thursday, In Karachi 
Pakistan 1st Innings: 209-7 


BASEBALL 
American Law* 

BALTIMORE— Fired Dick Bosman. pitch- 
ing coach. 

CHICAGO— Signed Gan* Lament, manag- 
er, to 1-year contract. 

BASKETBALL 

National Basketball Association 

CHICAGO— signed Steve Kerr, guard to 
multiyear contract. 

DETROIT— signed Bill Curley, forward, to 
multiyear co ntract. 

HOUSTON— Re-signed Mario Elle. ward. 

N. Y. KNICKS— Signed Charlie Ward, 
guard, to 5-vear contract. 

PHILADELPHIA— Named World B. Free 
strenotti and condtthmine coach. 

UTA H Announced the retirement at Mark 
Eaton, center. 

FOOTBALL 

Nattoaol Football Leone 

ATLANTA— Signed Oarenw Verdin, kick 
returner, and Brett Maxis. safety. Released 


Tony Smith, kick returner, and Joe Rogers, 
wide receiver. 

CLEVELAND— SignedShelby Hill, wide re- 
ceiver, to the practice sauad, 

GREEN BAY— signed Reggie Johnson, 
tight end Waived Darrell Thompson, running 
back. Added Tommy Fagan, defensive nd to 
the practice sand. Released joy Williams, 
defensive end tram the practice nuiaa 
INDIANAPOLIS— Sinned Mark Jackson, 
wide receiver. Waived Shannon Baker, wide 
receiver. 

KANSAS CITY— Signed Jerroi Williams, 
linebacker. Signed Ronnie Woo Work, Hne- 
bockcr, to the practice sauad. Released Matt 
Gay, safety. Released Emerson Martin, 
guard from the practice sauad 
NEW ORLEANS— Waived Mike Stone- 
breaker, linebacker, and Pott Evans, tight 
end Signed Scott Adams, offensive lineman, 
and Kbn Batkin, tight end 
PHILADELPHIA— Signed Phil Bryant. 
running back, to the practice sauad 
TAMPA BAY— Waived Jeff Hunter, defen- 
sive end Re-sloned Jerry Ellison, running 
back, to the practice sauad 


BUFFALO— Assigned Dean Melanson.de- 
fensemanand Steve Shields, goalie, te Roch- 
ester. AHL Agreed to terms with Damlnlk 
Hasek, po ol tender, on 3-year contract, 

HARTFORD— Assigned Jim Agnew and 
John Stevens defensemen. and RaberTPetro- 
vldcy and Igor Chlfalrev, torwaras. te Spring-, 
field. AHL. 

LOS ANGELES— Assigned Brett Seeubv 
center, la Muskegon, CHL. 

N. Y. ISLANDERS— Sent Bryan McCabe, 
defenseman, to Spokane. WML. 


LIBERTY BOWL— Announced a three- 
Year TV contract with E5PN. 

GULF SOUTH CONFERENCE— An- 
nauncad Mat Monteval to. Southern Arkansas 
and Arkansas-Main Icelto have joined tlwcan- 


[iWp* 

LrPrafl 

ispibitwi 


L--I •• 5 


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For the Record 




HOCKEY 

National Hockey League 
ANAHEIM — Assigned Steve Rucchln, cen- 
ter.and Allan Beshtr.goaltendar, la San Die- 
go, IHL, and Nikolai Tsulgln, defenseman, to 
the Central Red Army foam. Traded Terry 
Yoke, rtgtrt wing, to the Toronto for David 
Sacco, right wing. Loaned Jean-Francols 
Jamphe. right wing, to the Canadian National 
Team. 


IONA— Named Eric Woodrtn men* tennis 
coach; Lou Persian! and Tony Slleftl men* 
assistant baseball coaches. 

NEW PALTZ. N.Y.— Named Peter Tadrlck 
moirs {assistant soccer coach and Hick Peso- 
vento men's assistant basketball coach. 

NORTHEASTERN— Named Terry Condon 
a ssociat e athletic director. 

NOTRE DAME— Named Bab Chm lei assis- 
tant football coach. 

SAN DIEGO— Named Brad HWtancf men's 
busfcaUxril cooctt. 

SOUTHEASTERN LOUISIANA— Named 
John Cane baseball coach. and Pete Lanalals 
assistant softball coach. 


Benin has become the seventh country to withdraw from tirei-.-, 
1996 African Nations Cup, the Confederation of African Footbftit 
said on Thursday. No reason was given for the withdrawal but the* ^ 
high cost of travel and organizing matches has led to a spate . 
withdrawals from African tournaments. (RetileMf* “ ‘ 

The Philadelphia 76ers have hired World B. Free as 
conditioning coach. Free spent 13 seasons in the NBA, foarafc?.~. 
them with Philadelphia. 

Brace McNafl, the Los Angeles Kings’ president, has agreed 
turn over control of his assets — including his remaining l’; 


percent interest in the hockey team — to a couit-appoinW#?^ : ‘ 

hflnVfimfm mictMk /P A •** 


bankruptcy trustee. 


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DENNIS THE MENACE PEANUTS 


CALVIN AND HOBBES 



'Mr. Wilson wants me to walk with him 
AND HEIP KEEP HIS HINGES WORKING * 


do Jn&cUufr 

NEEDS A If-, -ft go to ekMowC. 

600 D 5 HEEP/I! 



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u ' ,| ' a >ii f? Dundee Crashes Out of Cup Winners’ Cup 

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. For the first time since the 
1958-59 season, Scotland will 
have no representatives in the 
second round of any of the Eu- 
ropean cup competitions. 

Its last re maining representa- 
tive, Dundee United, took a 3-2 
'first-leg lead over Tairan Pre- 
Sov into the second leg of the 
Cup Winners’ Cup match in 
Slovakia, but lost the game, 3-1, 
and fell out of the competition! 

on a 5-4 aggregate. 

In London, Ian Wright 
.scored his 98th and 99th career 
goals for Arsenal as the defend- 
ing champion cruised into the 
second round of the Cup Win- 
nos Cup Thursday with a 3-0 

\nMAnr ratop VT1 « 


, ' — — » 

mAuxerre, France, Aux- 
errc completed a clean sweep for 
French dubs in Europe when 
they overcame a two-goal deficit 
to knock Croatia Zagreb out of 
Cup Winners' Cup. It was 
sixth victory for a French 


club in Europe in 48 hours after 
Marseille, Cannes, Bordeaux 
and Nantes qualified in the 
UEFA Cup on Tuesday and 
raris-St Oennain won a Cham- 
pions Cup match in Moscow on 
Wednesday. 

In Bratislava, Vadislav Zvaia 
scored two goals for the Slovak 
team, which rallied after Dun- 

EUROPEAN SOCCER 

dee United had taken a 1-0 lead 
in the second minute on a goal 
by Jerren Nixon. 

Zvara curled the ball home 
on a free lack from 22 meters to 
tie the score in the 10th minute, 
and Robert Kods made it 2-1 in 
the 18th when he put in the 
rebound after goalkeeper Alan 
Main let another free kick slip 
out of his hands. 

Zvara sealed the victory with 
another score in the 71st. 

The Scottish casualty list this 
season already includes the 



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■ European Cup Results 

CUP WINNERS’ CUP 
nnt RawMb SMnad Lag 
tflraM a Broodby I 

-Scorer: Mark Stnxfel (31st); Brandby wins 
*4 on aggreoato. 

, WHS ZhXav % Cemc a s 
Chelsea wins « on aggregate. 

HJK HsttWd l Btsfldas 1 
Scorers: HJK — Rami R ontonon UTtti); 
Badkka— Oktor DoroUogtu (Mth) Betektas 
. wins 3-1 on aggregate. 

. | Totran P r a se * Si Dundee United l 

Scorer*: Totran — Vodtsjov Zvara noth, 
71*1), RotNii Kods (18th!; Dundee United— 
Jerren Nixon (2nd); Totran wtnsMoaaggre- 
'.'Bata. 

-• ' Charaonarais h Srassbappar Zurich 0 
Scorer: Ttnatai Guseinov (fltij; Gn» 
. hopper whs* 3-1 on aasrestita. 

- DCS Lodz A FC Porta I 

- 'Scorer: Ivenfco Drulovtc (45tti); FC Porto 
' wins 30 on aggregate. 

- - PowBUmOm A MrN 1 

Scorers: PanatMnoHcos— Alexis Afexoudb 

I t \ (Mh.TI11i)avWoWanyctn(aoni,B71h.9om), 

I It'Jr, III l> Joan Borefll (Mftd; Ptrln — Christo Orocftev 
ui.ii, (44th); PonottilnotlwB wins I-t on aggr e gate 
Austria Vienna % Brantk Manor ■ 

’ ■ Scorers: vicuna — Flood ( 2 ist). Kabka 
. (52nd, 5Hti); Vienna wins 4-1 on aggregate. . 


CHAMPIONS’CUP 
First Rotate . 

Group A 

eaXtfasoray 0 . Manchester united • 

IF K Qoth enaom % Borcateoa 1 
Scorers; IFK — Magma Erffngmark 
(74th), jesser BtoiWW (»tti); Barcelona— 
Hrlsto stortetikov (ram). 

Group b 

Spartak Moscow L Parts St. Gerraate 2 
Scorers: Saartak — Rashid Rdchlmov 
(SStti); Paris 56 — Paul U Own (5ftttl. 
Vaklo (Mth). 

Berrars Moteeh V Drnamo Kiev 0 
Scorer: Mohnid Schdl (9lh|. 

Group c 

BenfKa X Andertecftt i 
Scorers: Bcntfco— Cteodto CwHooto ( 2 ottv. 
4ls»). Fernanda Tavares (72nd), Andsrlecnt 
— Paulo Madeira (own goal, goth) 

5taaoo Bucharest % Hafdok spot l 
Scorer: Alton A9anovtc (HIM. 

snap D 

AC Mllaa 3, Aastrio Sabharg g 
Scorers: Gtovanrt Stroma 140th). Marco 
Simone (5*h. 44th). 

AEK Athens t, Alax Amsterdam 2 
Scorers: AEK — Tony SavavskI (30th); 
Alax — Jcri LIMuxien (33nl). Patrick Kiuh 
vart (43rd). 


Rangers, beaten by AEK Athens 
last month in the preliminary 
round of the Champions’ Cup. 

Aberdeen was euminaled by 
Skonto Riga of Latvia in the 
UEFA Cup preliminary round, 
and Motherwell lost to Borussia 
Dortmund on Wednesday in 
the fust round of the same com- 
petition. 

Arsenal 3, Omonia Nicosia 0: 
Arsenal’s triumph gave the 
London club a 6-1 aggregate 
victory over the Cypriots and a 
place in the final 16 for Friday's 
draw in Geneva. 

Wright scored an easy break- 
away goal in the ninth min ute 
when Omonia’s attempt at the 
offside trap went awry. A huge 
drop kick by goalkeeper David 
Seaman that sailed three-fourths 
the length of the field was chased 
down by Paul Merson. who drew 
the goalkeeper away and fed 
Wright for the open sboL 

Stefan Schwarz added the 
second in the 31st minute, set 
up after the ball was batted 
away after Merson’ s long run 
into the penalty area. The 
bounce came knee-high to 
Schwarz, who nailed home the 
left-footed shot from 25 meters. 

Wright, who joined Arsenal 
from Crystal Palace in 1991, 
scored his second in the game 
and seventh of the season in the 
70th minute when he met Ray 
Parlour’s cross with a flying 
header. Wright was carried off 
on a stretcher with two minutes 
to play after a tackle by Omonia 
substitute Nadim Tuuc. 

Auxerre 3, Croatia Zagreb 0: 
Auxerre, down 3-1 after the 
away leg, beat Croatia, 3-0, 
Thursday night with goals from 
Bernard Diomede, St&phane 
Mah6 and Sabri Lamouchi. 

The French Cup holders had 
a huge boost when defender 
Zvonomir Soldo, who had al- 


ready been booked, was sen t off 
in only the 11th minute for a 
tackle from behind. The visitors 
had their share of bad luck, with 
both stopper Goran Mamie and 
striker Igor Pamic forced out of 
the action in the first half be- 
cause of injury- 

Diomede scored five minutes 
before halftime when be headed 
home a free kick from the right. 

Two policemen were injured 
by a barrage of bottles thrown 
by Croatian soccer fans attend- 
ing the match. The police said 
about 200 fans of Croatia Za- 
greb, many of them drunk, coo- 
fronted officers outside the Aux- 
erre stadium before the match. 

Viktoria Zizkov 0, Chelsea 0: 
In Jablonec, Chech Republic, 
goalkeeper Dimitri Kharine 
saved a penalty as the injury- 
plagued Chelsea held Viktoria 
Zizkov to a goalless draw in the 
second leg of their Cup Win- 
ners’ Cup first-round match, 
The English club won 4-2 on 
aggregate. 

Kharine made a string off 
fine saves, two of them denying 
the Czech team a goal after half 
an hour. 

Anthony Barness, pressed 
into service because of injury 
and illness, gave away a penalty 
by nipping the dangerous Karel 
Poboxsky. But Kharine bril- 
liantly slopped Pen Vrabec’s 
spot-kick and then flung him- 
self to the side to stop Po- 
borsky’s follow-up shot. 

Wenfer Bremen 2, Maccabi 
Tel Aviv <h In Bona a goal 
direct from a corner kick by 
Mario Basler sealed Werder 
Bremen’s victory and gave the 
German team a place in the 
second round. 

As central defender Michael 
Schulz distracted the Maccabi 
defense, Basler ‘s ins winger 


sneaked inside the two defend- 
ers on the near post in the 81st 
minute. Striker Marco Bode 
had slammed in a Basler cross 
from six meters 10 minutes af- 
ter halftime to give Bremen the 
aggregate lead after a scrappy 
first naif. 

Sampdoria 2, Bodoe Gfimt 0: 
In Genoa, England’s captain, 
David Platt, suffered an ankle 
injury that could sideline him 
for a month after scoring in 
Sampdoria’s victory. 

Sampdoria, the winner of the 
trophy in 1990, advanced to the 
second round on a 4-3 aggre- 
gate. 

Platt, who also scored in 
Sampdoria’s 3-2 first-leg defeat 
in Oslo, headed, home an Attilio 
Lombardo cross for the night’s 
first goal in the 13th minute. 
Lombardo made it 2-0 in the 
36th minute when he beat the 
diving Robnny Westad from 
the edge of the penalty box. 

But injuries to Platt and re- 
serve striker Maui© Bertarelli 
took the edge off Sampdoria’s 
triumph. Bertarelli could be 
sidelined for up to three months 
with a dislocated knee after col- 
liding with Westad. 

■ Inter Milan Out of UEFA 

Inter Milan, the defending 
champion, was knocked out in 
the first round of the UEFA 
Cup on Thursday night, losing 
to the English club Aston Villa, 
4-3, in a penalty shootout. 

The shootout came after Vil- 
la won the second-leg match 1-0 
on a goal from Ray Houghton 
four minutes before halftime . 

With the aggregate at 1-1 and 
neither team able to score in 
extra time, the match went to 
penalties. Phil King slotted in 
the winning kick after back-to- 
back misses by the Italian dub. 

(j 4P. Reuters) 



m Ptlr Jtnrk'Rculcr' 

Dundee United's Jerren Nixon, right, with Marian Skalka of Tatran Presov in pursuit 


•fw 

itte 




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NFL Owners 
Approve Draft 
.For Expansion 

Reuters 

DALLAS — The owners 
. of National Football 
League teams have agreed 
' on a plan, to stock the two 
newest expansion teams 
; with players. 

The Carolina Panthers 
and Jacksonville Jaguars, 
; who arc to begin play next 
season, will select from a 
pool of six players left un- 
‘ protected by each of the 28 
existing franchises, NFL 
owners meeting in Dallas 
decided on Wednesday. 

The expansion draft is 
expected to be held in nrid- 
• February. 

Once a team loses a play- 
er it is allowed to pull one 
back from its unprotected 
list. Any player left unpro- 
tected by a team must be 
under contract for 1995. 

. No kickers or punters are 
eligible for selection. Only 
one player per team with 
more than 10 years' experi- 
ence may be exposed. 

The Panthers and Jag- 
uars must pick 30 players 
each and can choose a max- 
imum of 42. 

v The Panthers and Jag- 
uars will receive one extra 
draft choice per round in 
each of the next two years. 
The expansion teams thus 
will have a total of 14 
choices as opposed to the 
seven each of the existing 
teams receive each season. 


The 2 Shidas Go Head to Head 


REAL ESTATE MARKETPLACE 


By Charlie Nobles 

New York Timet Service 

DAVIE, Florida — In recent 
weeks, conversation between 
Don Sbula and his oldest son, 
Dave, has conspicuously veered 
away from any discussion of 
football personnel and game 
details. 

“It's been more ‘How's the 
family doing?* and talk about 
arrangements for this weekend, 
who’s tickets they’re going to 
use and who they’re gonna root 
for,” Dave said, referring to 
other members of the family. 

But father and son cannot 
avoid talking football any long- 
er. On Sunday night, in River- 
front Stadium in Cincinnati, the 
Shulas will make National Foot- 
ball League history when Don’s 
Miami Dolphins face Dave's 
Bengals. It will be the first time a 
fatter and son have opposed 
each other as head coaches. 

This will be the fourth time 
Dave, 35, has peered from the 
opponent’s sideline at his father, 
the NFL’s winningest coach. It 
happened in 1981, when Dave 
was a receiver with the Baltimore 
Colts; in ’89, when he was an 
assistant with Dallas, and in *91. 
when he was an assistant with 
Cj jflcinnari- But cleariy this mat- 
chup is different. 

Dave is now a boss, too. And 
his asters — Sharon, Donna 
and Annie — have already in- 
formed their fatter of their alle- 
giance Sunday to their brother. 
That leaves only son Mike, an 
assistant coach with the Chica- 
go Bears. 

“There's no maybe to any of 
this,” Dave said Monday, feign- 


ing anger. “My sisters are root- 
ing for me and so is my brother 
Mike. And if he says he’s not, 
then he’s in big trouble." 

Dave Shula comes into Sun- 
day’s game with an 8-28 NFL 


“Our team just feels about as 
low as you can get now after 
coming back in the second half 
and tying the score and still 
losing,” he said. “My responsi- 
bility is to this team. We want 


coaching record, putting him a to get it back going again. Cin- 
mere 322 victories behind his 64- annati’s our next ball game.” 


year-old father. The Bengals are 
0-4 this season, to Miami's 3-1. 

Don has kept his advice to a 
minimum, his son said, but did 


Ttfy sisters are 
rooting for me and 
so is my brother 
Mike. And if he says 
he’s not, then he’s 
in big trouble.’ 

Dave Shula 


Dave said be had mentioned 
the father-son matchup to his 
athletes twice. 

“Once when I went over the 
schedule during training camp, 
highlighting some things." he 
said. “I just mentioned this 
would be a special game. Then 
today as we began our meetings 
and started talking about the 
week. I just mentioned you’re 
going to get caught up in it 
some, because Tm sure people 
are going to be asking you 
about iL" 

Don took Dave to his first 
football game at age 4 — the 

1963 NFL title game pitting 

Shula’ s Baltimore Colts against 
remind him of the responsibfl- the Cleveland Browns in Cleve- 
ity he must shoulder as the head land S tadium Eventually, Don 

man. 

“He said, ‘As the head coach 
of your team, your players look 
to you for answers and want 
you to lead them out of the 
situation that they’re in,’ ” 

Dave said. “And he said there is 

no time for anything but that — “I’ve never looked back." 
to constantly search to find 
ways to improve the situation.” 

While Dave desperately 
needs a victory Sunday. Don 
said he could not allow himself 
to think like a father. 

“We’re coming off just a 
very, very disappointing loss," 
he said, referring to Miami’s 38- 
35 defeat by Minnesota. 


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allowed his son as an adolescent 
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coach. 

That put a law career on per- 
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For investment 
information 

Read 

the MONEY REPORT 
every Saturday 
in the IHT 


8 th, ON AVE GEORGE V 
caret Avo Montaigne ilxxe v«ry ten 
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long term. Tcbfl) *6 37 93 8 * 


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e qu ipped. ___ ___ 

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4th, RUE DB ROBBS, FURNISHED 

30 sqm. F5.33Q par month. 2-34 
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DMBT ROOOEAU, ON AVRKUR 

greet. hAy equipped. SfL 1 bedroom 
to. Owner. frdO&Tet 142 79 60 58 


15* Mir PORTE DE VERSAILLES 100 
sqm. 4 roams, dam, edit 
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EmuSECK, 6 

done, t»gh do® wv™ 
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entirety .w- 


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166^ TROCAD0W, Kino, 1 bedroom. 
Coll feme: 1-4660 


-I 0 


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a office Mr. Motto 14693 2636 


PARIS 6ft. LUXEMBOURG 

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SPAIN 


7 PLAZA DE ESTANA APARTMB6T5. 

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85 85. Fn* 


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Page 9 
FOR MORE 
REAL ESTATE 


USA 


EURO CASA - NEW YORK. 
Furnished/ unfurnished apartments. 
Weekly - Monthly . Yearly ftenak. 
80, 5th Ave, Mi floor. N.Y. 10011. 
2] 7433471. 1 


Tel (212 


. Fa« (212) 243-6205. 


REAL ESTATE 
WANTED/EXCHANGE 


Jh 


Fn Q4-II <294458 


PLAZA RASUCA APARTMBfTS 27. 
Cormdanle Zorito Mo*id located in 
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SWITZERLAND 


BOUGEMONT NEAR OSTAAD la lei 
ywfy beourifel duplex flat in Swiss 
cha let. 3 bedrooms, 2 baths, garage. 

lame i dale! possibte. Teh +41 22 
731 66 31. 


PBR YORK OTY/ Centred Pm* West 
One bedroom, luxury; buUng for 


INratNATlONAL RBTOKE, ox 
& edrateonof e ndtonget for paifes- 


sxxxdl. intenhange, 286 Park S 
Homftn Ortejno. Canoda UP 3G4. 


International 
Herald Tribune 
ada work 


INTERNATIONAL CLASSIFIED 


TODAVS 

HOLIDAYS 
& TRAVEL 
SECTION 

Appears 
on Page 1 1 


CROSSWORD 


PERSONALS 


_ ACROSS 

1 Cornic strip 
pianist 

A -IB Defraud 
* 14 London district 


taBondnran 

t* Andrew 

Jackson's 
homa, tenth 
Tha" 




JAL 



offers 7 direct flints 
a week to Osaka 
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. more 

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japan Mrikw* 


it The “her* of 
'Leave Her to 
Heaven* 

IB Entanglement 
is incites 
ai Man of 
tomorrow 

22 Roman art 

23 The French 
Conn ecu on* 
locale 

2 S Recipe words 
2* Discards 

sBGuNandjet, 

e.g. 

32 Legislature 

33 KAin’s river 

34 Bow to gravity 
34 'Blubber - writer 

37 They're 
charged 

sa Thanksgiving 
services 
40 Dutch 
statesman 
Hugo 

44 Blue Jays or 
Cardinals, e.g. 

45 High-up 
apparatchik 

47 Medical suffix 
so Basketball's 

Manure 

52 Trumpet blast 

sa Stylus 

■4 Eocene, for one 
so Finally had 

some hick 
so Comer 

so Three-time U S 
Open tennis 
champ 

ao Common dog's 
name 

ei Volunteer’s 
place 


DOWN 

1 Pronunciation 
symbol 

2 Bronx 

a Parsley, sage, 
rosemary and 

thyme 

4 Piston 

5 Site of Eastern 
iniquity 

4 “CHiPs" star 
7 Parses, m a way 
a Just beats 
• Pieces 

10 The sun 

11 Body o* 

members of 
equal authority 

12 Field 

13 Dam 

15 Park, N.J. 

20 Upton Sinclair 
novel 

2 « "The Icarus 
Agenda" author 

*» Prefix with -crat" 
27 Fixes the length 
of 



CONGRATULATIONS 

VMari* end BirfetBd 

on ffw b«lh of your firti son 

JEAN-B APTISTE 

on September 28th 1994 

+510 kg • 50 o« 

Los c# te« & best wishes 
fren row friends a the Trfc. 


THANK YOU 5AQSD HEART d Jesus 
and Sant Jud* for proven an swered 
and counted herftfe P.uA. 


ANNOUNCEMENTS 


Attention visitors 

from the U.S. I 



Puzzte by Ken Qaffney 


24 Sa Lilt- 


-Marie 


©Ne*e York Times/ Edited bv fFiU Shorts. 


29 Restaurateur 
Tools 

30 Coffee break 

erne 

si Didn't stir 
33 Predetermine 
the outcome 
39 Sunbathes 

36 Nol worth 
quitting over 

39 Advice column 
start 

41 *Oh. now — - 
badguyt* 

42 Actress 
Thurman 


Solution to PnaJe of SepL 29 


43 Choir director's 
exhortation 

48 Range 

47 Says 'one 
dub," maybe 

40 Fort . Fla. 

40 Talus site 

so Automotive 
pioneer 

si One of TV's 
Taylors 

55 igt>9 Broadway 
hit 

5? Legal matters 


H 

0 

D 

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□ 


0 

nan^i 

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Page 24 


OBSERVER 


Doom Looms on Radio 


By Russell Baker 

N EW YORK -If you tend 
toward suicide, listening to 
talk radio is even more danger- 
ous than reading newspapers. 
Apparently it's all over for the 
good old United States. 

The country’s dead broke. 

In spite of die fact that every- 
body’s so poor that the national 
diet is based on conuneal mush, 
we're still being taxed to death. 

Hasn't been a war of any 
quality whatever since George 
Bush left Washington. 

It's this Jimmy Carter you 
can thank for that. Every time 
we get up to the edge of a half- 
way decent war, this Jimmy 
Carter sticks his oose in and it's. 
“Goodbye, bloodshed!” 

Jimmy Carter won’t do. 
Who’s scared of us anymore? 
Nobody, that’s who. 

The only surviving super- 
power left on this earth, and 
nobody even trembles when we 
say. “Sit up straight and mind 
your manners." 

Call that a superpower? Hah! 
What’s this country coming to? 
□ 


that Ira Magaziner up to the 
Congress and asking them to do 
something for the baseball fans 
for a change, and you know 
why? 

The fans aren't feminist 
enough for Hillary Clinton. 

If something isn’t done to 
stop this feminism before it’s 
too late, this country’s going to 
see Jimmy Carter sending his 
wife Rosalynn out to do the job 
next time he wants to stop 
America from doing the manly 
thing to these two-bit dictators. 

□ 


We've been taxed and spent 
into bankruptcy by the liberals. 
They're still following the phi- 
losophy of that guy Whatcha- 
macallum who said, “Tax and 
tax, spend and spend, elect and 
elect until America is destroyed 
and destroyed." 

When a country lets people 
like Jimmy Carter and the liber- 
als call the tune, what do you 
expect? No wonder we're the 
laughingstock of the world. 

Jimmy Carter and the liber- 
als just won’t do. 

Hillary Clinton won't do ei- 
ther. 

Pardon me, Clyde, make that 
Hillar y RODHAM Clin ton. 

George Washington didn't 
let Martha take over the White 
House. George Washington 
didn't let Jimmy Carter stick his 
nose into the whisky rebellion 
and settle it with a shameful 
compromise, did he? 

You don't see Hillar y taking 


Feminism is at the root of our 
nation's catastrophe. Along with 
liberalism and taxes and Jimmy 
Carter and greedy baseball play- 
ers. Did I mention the public 
school system and ail that lean- 
ing over backward to appease 
nutty demands for diversity and 
multiculturalism? Did I mention 
1-ani Guilder's Justice Depart- 
ment, or is it Janet Reno's? 

Sweet, merciful divinity, for- 
give me. 1 almost forgot the me- 
dia. You know as well as I know 
who did it The media did it. 

They're always trying to 
make a joke of it always saying, 
“No, no, the media didn't do it, 
the butler did it.'’ 

And what about these comets 



“Monty Python" in its heyday: from left, Michael Palin, Graham Chapman, John Cleese, Eric Idle and Terry Jones. 

25 Years On, Something Completely Different 


By William E. Schmidt 

iVrw York Times Service 


L ONDON — The show wasn’t always going to be 
called “Monty Python's FI vine Circus. - An ear- 


spinning around the universe? 
One of them’s got Earth's name 
on it light now and is probably 
barreling down on us at 75 mil- 
lion miles an hour, and Bill 
Clinton not doing a thing about 
iL 

Probably because Hillary 
hasn’t told him to. 

When that comet hits, let’s 
hope it scores a bull's-eye on 
Capitol Hill, and not just a surgi- 
cal strike either. The whole Con- 
gress needs a good obliterating, 
as well as the Supreme Court, 
not to mention the State Depart- 
ment and the Patent Office. 

There’s no use going on. Ev- 
erything is ruined. It’s all over. 
Life just won’t do. Love your 
show, Clyde. 


JLu called “Monty Python's Flying Circus. - .An ear- 
ly working title was “Owl-Stretching Tune.” Then, 
briefly, ‘The Year of the Stoat" and “The Venus de 
Milo Panic Show,” before someone hit on the idea of 
“Gwen Dibley’s Flying Circus.” 

N aturaUy it made no sense, but it was only a short 
step from there to television history. “There was 
really no reason why we did anything the way we 
did,*' explained Michael Palin, the actor and writer 
who was one of the six creators of “Monty Python.'’ 
“But of course, there was a reason why we did things 
for no reason at all." 

Sunday will be the 25th anniversary of the British 
broadcast debut of “Monty Python,” and from Los 
Angeles to London, fans have been gathering to 
celebrate the series. 

Over three and a half years beginning in 1969, Palin 
and the other five members of the Python cast pro- 
duced 45 half-hour episodes, an idiosyncratic and 
sometimes anarchic blend of surreal animated graph- 
ics and absurd sketch comedy. Such as a takeoff on a 
television quiz show, in which Mao, Lenin, Che Gue- 
vara and Karl Marx appear as contestants eagerly 


stage his own version of “Hamlet," or. as he puts it, 
“Thamle." {“Be ot orbot neot, tath is the nestquie.") 

George Perry, the author of “The Life of Python,” 
published in Britain this month by Pavilion Books, 


said the series had left a lasting imprint on both film 
and television comedv. on both sides of the Atlantic. 


competing to answer arcane questions about English 
League soccer. Or the would-be theatrical producer 
who speaks only in anagrams but is determined to 


and television comedy, on both sides of the Atlantic. 

“Python" was the template for “Saturday Night 
Live” and a direct influence on the comic styles of 
scores of performers, including Dan Aykroyd, John 
Belushi and Steve Martin. “Their real importance 
was that they broke all the rules,” Peny said. “They 
did skits without punch lines, letting one comic 
sketch flow into another without a segue. They 
interrupted themselves. They created a sense of the 
unexpected. Combined with the brilliant, sometimes 
grotesque graphics by Terry Gilliam, it was anarchic 
and completely innovative." 

It is a measure of their penetration into the 
popular culture that the adjective Pythonesque has 
had a place in the Oxford English Dictionary since 
1975, defined as “pertaining to, or characteristic of 
‘Monty Python’s Flying Circus.' " 

After the television series ended in 1974. the six 
collaborated on three feature films, including 
“Monty Python and the Holy Grail." before going 
their separate ways. 

Graham Chapman died in 1989: the surviving 
Pythons have endured, singly and sometimes in 
collaboration. Their efforts have been underwritten 
in part by their own farsighted derision, years ago. 


to lock up nearly all of the long-term license and 
franchise rights to their Python work. 

Palin continues to appear in films — he starred 
with John Geese in Geese’s 1988 comedy. “A Fish 
Called Wanda" — and was the writer and narrator of 
two successful television travel documentaries 
(“Around the World in 80 Days” and “Pole to Pole”) 
and continues to write both for films and stage. 

Geese, who is best known for “Fawlty Towers.” 
and has become a familiar presence in television 
commercials, just finished writing a sequel to “Wan- 
da" and filming a role in Kenneth Branagh’s remake 
of “Frankenstein." 

Terry Jones, most f amili ar to Python fans as the 
naked organist, has written and produced a four- 
part series on the Crusades for the BBC, and Eric 
Idle has been involved in two recent film comedies: 
“Nuns on the Run” and “Splitting Heirs.” 

Gilliam has gone on to success as a film director, 
with credits including the 1985 cult hit “Brazil” and 
“The Fisher King." with Robin Williams, in 1991. 

With the exception of Gilliam, who is American, 
the Pythons were all middle-class products of Ox- 
ford and Cambridge in the 1960s, young men, as 
Palin said, keen to “cock a snook at the world." 
Now, three decades later, Peny says, there is consid- 
erable irony that the Pythons “are now undoubtedly 
a British institution and have become part of the 
fabric of that monumental edifice they had such fun 
trying to demolish .” 


pay for restoration work there. ’ ff i 

□ 

Woody Allen’s appeal of ai' ** lv 
ruling awarding custody or his 1 
children to Mia Farrow was re- : ■ * r 
jected by New York state’s high ^ *• 

court because the matter is not . -. v 
final. Allen's lawyer. 1 ‘ 
Abnunowitz, said that is be-' ■ ■ 

cause the lower court ordered ' ’ 
that Allen pay Farrow’s legal ' - , 
fees and the fees have not yet ’ . 
been set Once they have been 
set, the appeal will be refiled. \ ■ 

□ f -a ’ 

Martin CSccone, 37, Mato®-.. ■ 
no's brother, can’t come up with 
$2£00 for bail, so he has been . •:••••' 
in jail in Michigan on drunk*',. • * » 
driving charges since July 9. 

Madonna had no comment < : 

□ \N - - ! 


■*.t « 


f . . 




Ne*> York Times Service 


Lord Justice Brown's shot ; r 
was unorthodox but not illegal- :- : - 
at least that's what the club seev :.•» ■ 
retaiy at the Woking Golf Gut'...-. • 
in southern England ruled. The.. - 
judge climbed a ladder to play a 
golf shot from the roof of lhe. . ; !,■ 
clubhouse. The Daily Tele-. ! -.: 
graph reported. He then putted^ !, 
it over the 12-foot drop to the!'.', 
green within feel of the hole. ; ■*'. 


. a 


r f*fi 
-i 


WEATHER 


THIS WEEKEND AT THE BEACH 


5»*Js 

•• :,*i 1 


Europe 


Forecast for Saturday through Monday, as provided by Accu-Weather. 


Copwihdgeri 

Con Dm Sd 

DuHn 

Edn&wgfl 

Flown 

Frankfui*. 

Genova 

Hefsmta 

bureuJ 

Lai Raima! 

Looon 

LcnOtfi 

Manna 

most 

Mascot.' 

Muneh 


Prmfjm 

RaySat* 

Romo 

Si RoMtiOmy 
Sw*lv*r 
Strawcutu 
Tahiti 


Today 
High Low 
OF OF 

21.70 18. ■61 
19 » 14/57 
2SG7 1 1152 
31*8 2170 
23.73 19-E6 
2870 16851 

22.71 9<40 

22-71 12*53 
247S 13*55 
17/02 11*2 
2271 19X58 
17*2 11.52 
15*59 12/53 
sens i7« 
22.71 9.40 

19*6 14.57 
12*3 744 

26-79 1066 
2475 ia« 
22.71 16*1 
21.70 1253 
2170 14.57 
23.73 10«4 
14.57 5M1 

21.70 12,53 

2373 18.154 
12/53 7/44 

23/73 21.70 
21/70 14/57 

22.71 10/50 

11.52 4/39 

29814 17*1 
11.52 4.05 

1253 B46 

2170 12/53 
12 53 0/46 

26.70 19X56 
20.60 11/5* 
1966 9.40 

2170 15-59 



I UhMMOlUlFy 
COW 


Unsenonattv 

He* 


North America 

The Great Laken region 
through New England will 
have chilly weather this 
weekend. Heavy rains along 
the Gu« Coa« Saturday mil 
spread northward through 
the lower Mississippi River 
Valley Sunday. Denver to 
Salt Lake City will have 
sunny, pleasant weather this 
weekend. 


Europe 

Cool, damp weather this 
weekend In Spain will give 
way to sunny, warmer 
weather Monday London 
through Pahs and Munich 
will be sunny and pleasant 
this weekend. Show are will 
dampen London Monday. 
Rome to Athens and Istanbul 
wlfl have sunny, very warm 
wealtw this weekend. 


Asia 

Chilly autumn weather will 
plunge southward through 
Bafmg this weekend. Shang- 
hai will turn cooler Monday. 
In the wake o( Typhoon 
Orchid. Japan win have sea- 
sonable weather and a lew 
scattered showers this week- 
end. Manila will be warm 
with a Few afternoon show- 


Asia 


Today 






Low 

W 

HtQh 

Low 

W 


OF 

C/F 


OF 

OF 


B^mkoic 

31/88 

24.75 

01 

31.09 

24,7f i 

Bate™, 

MTS 

13-55 


2170 

0/40 

80 

KtonuKona 

DOW 

24/75 


JO.W 

25/77 


MUnlU 

31 W 

2979 


31 W 

2679 


Nen Oem 


22 71 


J4V3 

23 -73 * 

Seoul 

H/70 

IlflC 


2373 

12-53 


Stwqlu. 

M79 

19-64 


2675 

19-66 


Sngapofe 

2964 

2475 


31/80 

25'7.- 


Too®. 

31/80 

10.64 

s 

29/84 

22-71 


Tokyo 

3679 

20/98 

r 

27 60 

VtifX 

sh 

Africa 

Alpere 

.'577 

JSrrt 


27 'SO 

21-70 

s 

Cep* Tcn«i 

zo<w 

12/53 


20-68 

9-40 


Casablanca 

19.66 

16.W 


23 73 

15-5(1 


Harare 

20 AW 

7/44 

oc 

22-71 

10.50 

5 

UgiM 

.50/02 

23-73 


20/02 

24.75 x 

NMOtl 

23/7J 

10, *50 


24.75 

11-52 


TuiK 

3irea 

2271 

PC 

31 <W 

20«b 



SATURDAY 



SUNDAY 


AHorwastsawiiiaLifj^iJIfc' ' 
b> Aem-Wo.ui»«. ivai 


art 
- V.*4P 

..r >*« 


Middle East 


Latin America 


Oceania 



Today 


Tor 

wrow 



Today 

„ 

Tomorrow 



HUP, 

Low 

W 

Wsh 

Low 

W 


tegti 

Low 

W 

Hk>ft 

Low 

W 


C/F 

OF 


OF 

OF 



OF 

OF 


OF 

OF 


Ban. 

23/04 

24-75 


31/08 

22/71 

• 

Buiroa Me* 

10/64 

11-S2 

aft 

2068 

11.62 


Cun 

23-04 

19/00 


30/80 

ia«4 i 

Cw*»# 

29-84 

2080 


27 00 

2170 an 

Done-jcu* 

20.79 

14.57 


29-04 

13-55 

■ 

Umi 

19-58 

15-50 


10«4 

15-59 


Jwussttin 

2476 

17-82 


26.79 

16/01 

■ 

MmeoCtiy 

25/77 

11/52 


24/75 

>1/52 


Luxor 

35-95 

20-60 


36.97 

16/61 

• 

HK><rej4n*ln? 2577 

1684 


2577 

21/70 


nywsi 

36/100 24.75 


39-102 24-75 

• 

Sanire^j 

17162 

0-441 

PC 

21-70 

6.43 

pc 


Mewap 

AIM 

Bosun 

Cheapo 

Demur 

Devon 

HonoUu 

Houston 

LosMigaiM 


Mwneapoto 

Montreal 


1601 10.60 1 16811 9/48 PC 
23.73 1152 l 22/71 12.53 PC 


Legend: sreunny. pc-partty cloudy, c-dauoy. ah-ahoware. Htiu nd a m o nni . r-ram. sf-www flurries, 
■n-anow. Mee. W-WaaOw AH maps, foments and data provided by Accu-WeeDier, Inc. C'1964 


Nsw You 

Pnoartu 

San Fan. 

3 MM 

Toronto 

Washingion 


Europe and Middle East 







Europe and Middle East 





Location 

Weather 

High 

Low 

Water 

Wave 

Wind 

Location 

Weather 

High 

Low 

Water 

Wave 



Temp. 

Temp. 

Temp. 

Heights 

Speed 



Temp. 

Temp. 

Temp. 

Haights 



C/F 

C/F 

C/F 

(Metres) 

(kph) 



OF 

OF 

C/F 

(Uebws) 

Cannes 

partly sumy 

2679 

1 0/64 

23/73 

1-2 

SW 

20-10 

Cannes 

sunny 

28/79 

17/ 62 

23/73 

O-l 

□aauvdls 

clouds and sun 

20/66 

14/57 

14/57 

1-3 

S 

40-70 

Deauville 

doudsandsun 

21/70 

10/50 

14/57 

1-2 

Raimi 

partly sunny 

27/80 

18/84 

23/73 

0-1 

s 

10-20 

Him mi 

party sunny 

27/BO 

18/04 

2J77J 

M 

Malaga 

sunny 

25/77 

18/64 

23-73 

O-J 

E 

8-16 

Malaga 

sunny 

26/78 

18/64 

23*73 

<M 

Cagfian 

sunny 

29/04 

22/71 

23-73 

0-1 

W 

12 22 

Caghnn 

sunny 

29/04 

20/68 

23/73 

0-1 

Faro 

sunny 

23-73 

16-01 

20/68 

0-1 

NW 

10-20 

Faro 

pertly stray 

23/73 

16/61 

19/66 

0-1 

Piraeus 

partly sunny 

31/M 

21/70 

22/71 

0 1 

W 

10-30 

Piraeus 

sunny 

30/86 

21/70 

23/73 

0-1 

Cortu 

sumiy 

30.06 

21/70 

24.76 

01 

NW 

1226 

Corfu 

stray 

29/84 

20/68 

24/75 

0-1 

Brighton 

shawms 

21/70 

12-53 

15/59 

2-3 

S 

30-60 

Brighton 

showers 

19/86 

7/44 

15/59 

23 

Ostond 

cloudy 

19/66 

13/55 

14/57 

2-3 

SE 

30-60 

Osiend 

showers 

18/64 

10/50 

13/55 

2-3 

Schevenmgen 

clouds and sun 

19/66 

13/55 

1559 

1-3 

SE 

2&-50 

Schcvetmgen 

douds and sun 

13/64 

10/50 

15/59 

1-3 

Syfi 

cloudy 

17/82 

11/52 

14/57 

2-4 

SE 

20-40 

Syfl 

showers 

16/61 

7/44 

13/55 

2 4 

limn 

showers 

32.09 

21-70 

24/75 

1-2 

NW 

30-10 

Izmir 

clouds and sun 

32/89 

21/70 

23/73 

1-2 

Tel Aviv 

clouds ana sun 

27/BO 

21/70 

2,780 

1-2 

W 

18 36 

Tel Aviv 

doudsandsun 

27/80 

21/70 

27/80 

1-2 

Carftibean and West Atlantic 







Caribbean and West Atlantic 





Be (trades 

iTlnjiflTnn 

partly sunny 

32/B9 

23/73 

29/84 

1-2 

E 

ECC 

20-40 

Barbados 

party sunny 

32/89 

24/75 

28/B2 

IS? 

ivngsrofi 

St Thomas 

partly sunny 
showers 

33/91 

33/91 

22/71 

23/73 

2682 

29/04 

l-o 

1-2 

cx 

ESE 

20-40 

25-45 

Kingston 

St/fhamas 

party sunny 
party sunny 

32/89 

33/91 

23/73 

25/77 

28/82 

28/82 

• 1-3 

1-2 

Hanuhon 

clouds and sun 

14/57 

4/39 

2802 

1-2 

SE 

2040 

Hamilton 

sunny 

14/57 

5/41 

28/82 

o- 1 

Asla/PacHtc 








Asia/Pacific 






Penang 

party sunny 

29/04 

24/75 

29/84 

0-1 

SW 

10-20 

Penang 

party sunny 

31/88 

23/73 

29/84 

0-1 

Phuket 

munderttoims 

31/BB 

24/75 

29/84 

0-1 

SW 

15-25 

Pfiukei 

clouds and sui 

32/BS 

24/75 

29/84 

0-1 

Ball 

sunny 

32.-69 

22/71 

29/84 

0-1 

SW 

12-25 

Bali 

partly sunny 

32/80 

23/73 

29/B4 

O-l 

Cebu 

tfvKJemorms 

32 m 

24/75 

30/86 

0-1 

SE 

15-30 

Cebu 

thunderstorms 

32/89 

24/75 

29/84 

0-1 

Palm Beach. Aus 

sunny 

22/71 

12-53 

18/04 

1-2 

W 

15-30 

Pnkn Beach, Aua. 

doudy 

23/73 

13/SS 

18/84 

1-2 

Bay of Islands, NZ 

Cloudy 

16/61 

9/48 

iS/59 

1-2 

W 

20-40 

Boy of Islands, NZ 

doud8 and sun 

16/81 

3/48 

18/01 

1-2 

ShUBhama 

showers 

26/79 

21/70 

27/80 

1-2 

SE 

20-40 

ShirBhama 

doudsandsun 

27/80 

21/70 

27/80 

J-3 

HonokJu 

partly sunny 

32/89 

24/75 

27/80 

1-2 

ENE 

20-40 

Honolulu 

doudy 

31/88 

24/75 

27/80 

1-2 


Wind „ * 

Speed * J 

(kph) 

W IMa; ! i » % 

S 31 HW . 

S l(L2»V 

t A-T6 • *f 

w 123*. .... . 

W 12*8- - ! • •"* 

w iciJBsi^ T5v. a . ». 

NVV tlK» . , . . .. 

g • 

E sMo;r:-u 

G t5 . 

e is re*- ‘ 

MW 15 S: 

WNWLOea.. ., . 


jj. 

■ £ 


SE anas:.; ■Jr;* . , 


ESE 25-42-^- ,. . . 

F«?P *>411 —— * ■ •» H. 


ESE aMO'”— 1 • • ••• *•« 

SE ltxs- J •••,■ V : *** f 

*" -.-.a -,J m 


«!* •*' ■ v« ... t. . 

SW 12-25*.,. * ‘ 

sw mr-v.'i” ...! , 

sw tw.r.35 1 ... w . * 

ffW SO-35'- • -M. • ^ -.-4 • ■■ 

NW 12-2= S -r-,- ... 

sw awt,...,; . J- 1 '• -f** 

ENE « 

C ‘V” .6' :'T L 


Your stomach s growling 



Mother Nature’s calling. 


' 


** N ^ 

■ - V : 


Your flight s boarding. 


* - ' • ■ 


— 

* .* 

- : : .X 

' y ' 




- ■ / 


Plenty o( time to make, say v 




- 


; . 

• 


ten calls 


• 

' 


. 

■ • 



With AT&T USADirect* and ' j 

World Connect* Service, you ca?i * 

m ultiple calls without redialing ^ f-- - -a ». j, r ” 
vour card or access number. '* * a 




You’re In z hurrv. So we’II be brief. AT&T USADirect ; "• i4t -- 

.... . 'iii,. i. . ■ • • '• -• r 

-4 i ■ . 

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World Connect Service gets you fast, clear connections;.. **■ •* . . 1 \ 

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back to the United States or to any of over 100 orliefc ' : >- t . it . < 


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.•’■ft ■ | 

f 

thnuphr isn’t vnttr Flftrhr jrhnnT rondv rn tafcp nff Z 


ASIA /PACIFIC 
AUSTRALIA 1800-881-011 


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RUSSIA 'MHQSCDWJ 155-5042 


SAIPAN* Z35-2B72 

SINGAPORE 900-01 1 Mil 
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HUNGART 

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MIDDLE EAST 

BAHWN flfflMJQI 

CYPRUS' 080-90010 

KYPriCAIRO)' S1D4200 

ISRAEL .177-100-2727 

KUWAIT . . . . 800-288 

LEBANON (BEIRUT] ' .428-801 

SAUDI ARABIA . . 1-800-10 
TURKEY’ 00-800-12277 

U ARAB EMIRATES' . . BOO -121 


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AMERICAS 

ARGENTINA*. . 001-800400-1111 


BOLIVIA-.. 

BRAZIL 

CANADA. 

CHILE. . 
COLOMBIA 
EL SALVADOR*.. 
HONDURAS,, 
MEXICO 


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0-800-1112 
.000-8010 
1-000-575-2222 
000-0312 
. . 980-114018 
198 

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95 - 800 - 482 - 424 Q 


PANAMA. 

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VHEZUHAV 00-011-120' 

AFRICA 


TYtieWorlcT Connections 


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LIBERIA . 
SOUTH AFRICA 


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0-808-99-0123 





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