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INTERNATIONAL 



Sribun£ 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


m The Wonrld’s Daily Newspaper 


Paris, Wednesday, April 23, 1997 



No. 35.503 


A Case of Corporate Culture Shock in the Global Arena 


■ By AJan Friedman 

haeroatiofiai Harold Tribune 


WINDSOR, England — - On a brisk 
morning a few days ago, a parade of 
American executives bearing 
bvemigbrbags and' jet-l agg ed expres- 
sions entered a two-story red-brick 
building located just a stone’s throw 
from Windsor Castle. 

The businessmen were reporting in 
for another day at. the nondescript cor- 
porate headquarters of Pharmacia & 
Upjohn Inc., the recently merged 
Swedish- American pharmaceut ical « 
com; 


f siting company headquarters with 
a suitcase in tow is not so unusual for 
intemationa) execotives. Yet the rea- 
son why so many Pharmacia & Upjohn 
executives converge on Windsor — 


even though they actually work at the 
company's main operations in Stock- 
holm, Milan - and Kalamazoo, 
Michigan — is that the two sides could 
not agree on any other location as their 
merged headquarters. 

It would be an undeiscatementto say 
that this $7 billion- a-year company has 

lems since ft -was bom in I995*as*a 
trans- Atlantic merger of equals. . 

The conflicts c ulmina ted in the 
resignation three months ago of the 
group’s American chief executive, 
John Zabriskie. Indeed, Pharmacia & 
Upjohn has suffered enough clashes of 
management culture, style and ap- 
proach to make a case study of what 
American executives should not do 
when they come to Europe. 

Among the prime lessons learned. 


executives of the beleaguered drugs 
company concede, was that it would 
have been hard to overestimate the trou- 
bles that American executives would 
have as they tried to graft onto an es- 
tablished European business their U.S. 
management style. 

For example, the hard-driving, mis- 
sion-oriented American approach that 
Upjohn executives brought with them 
shocked the more gradualist, con- 
sensus-oriented Swedish managers. 
Also, tile normal U.S. practice of re- 
warding managers with stock options 
was hard to achieve because of 
Sweden's heavy tax structure. 

The American managers from Kala- 
mazoo could not begin to comprehend 
how their European counterparts could 
take off the entire month of August for 
vacation. 


"They were astonished at European 
vacation habits," said Jan Ekberg, the 
Swedish-born chief executive of Phar- 
macia & Upjohn, who stepped down as 
chairman and replaced Mr. Zabriskie 
earlier this year. 

Mr. Ekberg, 60, who said he was 
hoping to End a new chief executive for 
the company so that he could resume 
his more hands-off chairmanship, con- 
ceded that there had been problems. 

“1 must admir there are different 
traditions." he said in an interview 
here. "1 think Europeans are much 
more international. We are used to 
working across borders, in different 
languages. We are used to treating 
people in a different way. 

"The Americans are really not very 
international because they have this 
huge home base. American companies 


sell their products abroad, but that does 
not necessarily make them internation- 
al." 

On paper, the marriage of Pharmacia 
AB. a respected drugs company that 
was weak in the United States, and 
Upjohn Co., a proud Midwestern firm 
that needed more international busi- 
ness and a new product line, looked 
good. Putting the merger into practice 
proved a lot harder. 

Executives recalled that there was 
immediate debate over where to base 
the company and what to call it. The 
new British headquarters, which em- 
ploys less than 100 of the group’s 
30,000 employees, was a geographic 
compromise that eventually produced 
tangled lines of management commu- 

See CLASH, Page 11 


Television Newscasters 
Vie for Global Audience 

CNN and BBC Act Locally to Conquer Viewers 


By Richard Covington, 

Special i a the Herald Tribune 

CANNES — As a hostage in the 
American Embassy in Tehran in 1980, 
: Chris Cramer made an art of waiting, 
passing tense days and nights second- 
' guessing his captors. Lately, the training 
(* has come in handy. 

As one of the main architects of CNN 
' International’s strategy, Mr. Cramer, 
vice president and managing director of 
k the service, is currently embroiled in 
second-guessing the growing ranks of 
competitors in the field of global news. 

His moves to regionalize the service 
and to leaven die schedule with a new 
slate of arts, music and opinion pro- 
gxams and feature-fcngto documentaries 
are a direct response to challenges from 
MSNBC and units of Rupert Murdoch’s 
News Corp. such as Fox News Network 
in the United States and Sky News, in 


10 Executives 
Quit Nomura 
Over Scandal 


By Sheryl WuDunn 

. New York Times Service 

! TOKYO — The once-revered house 
of Nomura Securities Co. has been tum- 
bling from its heights, and the company 
tried to haft the fall Tuesday by an- 
nouncing a highly unusual move: Its top 
ranks wul step down from the board. 

Nomura also promoted Junichi Ujiie, 
a young American-educated executive, 
to take over as president in atactic some 
analysts hope will initiate a g ener a tion al 
change in managerial mindset within 
the company. Analysts said the pro- 
motion and the mass resi gnation, vir- 
tually unheard of for a publicly listed 
Japanese company, would help stop the 
bleeding at the brokerage, but that any 
turnaround will take time. 

Nomura's tom 10 executives, includ- 


Britain. But Mr. Cramer faces his most 
critical challenge from BBC World. 

After two years in Europe, BBC Worid 
has gained an audience of 30 mfilian 
homes out of ils worldwide viewership of 
50 million homes in 174 countries and 
territories, according to Hugh W illiams, 
the BBC’s director of dmnnels. 

By comparison, CNN International 
reaches 113 nrilHon homes in 210 coun- 
tries and territories outside the United 
States, where the domestic service 
reaches an additional 71 million tones, 
according to company figures. 

BBC World's growth in Europe has 
come in spite of the fact dial the service 
has not been able to broadcast in Britain, 
due to British regulatory restrictions 
that limited broadcast licenses. 

But this state of affairs is about to 
ctoange.Wito toe launch of digital broad- 
casting services, the television landscape 
in Britain has been thrown open to com- 
petition and BBC World is expected to 
start a 24-hour news operation for broad- 
cast in Britain by the end of the year. 

Following, a $500 million agreement 
last October with, an American docu- 
mentary nerWoik,'f>iscovcry Commu- 
nications Inc., a subsidiary of Tele- 
communications Etc., BBC World is 
expected to be en toe air next year in the 
United States as part of a bouquet of 
pro g ams and channels provided by 
BBC Worldwide. ~ 

With an overall news and current af- 
faire programming budget of £250 mil- 
lion ($408.7 million) and with 250 cor- 
respondents around the world, inch 
its ooorestic operations and BBC Wc 
the BBC can marshal substantial re- 
sources in toe increasingly fierce com- 

^The annMllMTOtadSget for the do- 
mestic and internatio nal services of 

See TV, Page 11 



Vladimir MWmbn/Agrfirc tranev-ftrew 

President Jiang Zemin of China, left, with Dime Minister Viktor Chernomyrdin on Tuesday in Moscow. 

Moscow Looks East to Counter NATO 


C tm p Se ibfOirSi^fmnDapmcha 

MOSCOW — President Jiang Zemin 
of China arrived here on Tuesday for a 
five-day state visit that is intended to 
cement friendlier ties between Moscow 
and Beijing — and perhaps give Russia 
a counterbalance to NATO's eastward 
expansion . 

Mr. Jiang stepped off his plane to a 
warm welcome from Prime Minister 
Viktor Chernomyrdin and then went by 
motorcade to an apartment in toe Krem- 
lin, a raze honor granted only to a few 
selected dignitaries in thepast. Mr. Jiang 
ism meet with President Boris Yeltsina! 
his Kremlin residence on Wednesday. 

The details of Mr. Jiang’s visit were 
well-scripted, leaving lime room for 
suspense. Instead, much of toe interest 


in toe trip focused on its undercurrent of 
opposition to NATO expansion and the 
United States’s role as the world's lone 
superpower. 

In a written statement distributed 
after his arrival, Mr. Jiang spoke of "the 
establishment of a new type of relations 
between toe Russian and Chinese state, 
aimed at long-term neighborliness and 
friendship." 

Mr. Yeltsin's spokesman, Sergei 
Yastrzhembsky, said that the two pres- 
idents would issue a joint statement 
opposing "anyone’s attempts to play 
the role of an absolute leader in in- 
ternational affairs," an obvious refer- 
ence to the United States. 

After decades of bitter hostility, Rus- 
sia and China have cautiously estab- 


lished wanner relations in toe last few 
years. Russia, in particular, looked to 
Mr. Jiang’s visit as a respite from its 
troubling relations with the West 
The North Atlantic Treaty Organi- 
zation’s expansion "is leaving us with 
no other choice" but to bun eastward, 
said Mikhail Titarenko, director of toe 
Institute of Far East Studies at the Rus- 
sian Academy of Sciences. 

Mr. Yeltsin, who had been on va- 
cation at Russia’s Black Sea resort of 
Sochi, returned to Moscow for the meet- 
ing with Mr. Jiang. 

"This will be toe first Russian- 
Chinese summit after the two aides de- 
clared in Beijing in April 1996 their 

See MOSCOW, Page 11 


U.S. Bans 
Any New 
Investment 
In Burma 

Albright Says Regime 
Continues Repression 
In a ‘ Dangerous ’ Way 

By Brian Knowlton 

Imemarional Herald Tribune 

WASHINGTON — The United 
States announced Tuesday a ban on new 
investment in Burma, which Secretary 
of State Madeleine Albright said was 
moving in the ''dangerous and disap- 
pointing direction” of large-scale re- 
pression. 

Burma, she said, had "closed polit- 
ical party offices, arrested peaceful 
demonstrators, and harassed and intim- 
idated those espousing democratic prin- 
ciples." 

While Washington and its allies have 
made clear to Burma the advantages of a 
democratic approach, she said. "Un- 
fortunately, toe military leaders in Ran- 
goon have chosen not to listen." 

In Burma, a military leader defiantly 
dismissed toe U.S. measure, Reiners 
reported. "It's not a problem for us," 
said Lieutenant General Khin Nyunt. 
who holds the title of Secretary One of 
toe ruling State Law and Order Res- 
toration Council. 

But human rights groups in the 
United States and exiled dissidents in 
Thailand applauded toe move, which 
appears certain to isolate the Rangoon 
regime further. 

The announcement ended weeks of 
debate in the administration, which has 
been torn between demands from the 
business community to resist sanctions 
and pressure from Congress and human 
rights groups to take a tougher stance 
against a regime that is already one of 
the world’s pariahs. Burma has been 
condemned for repression of its people 
and involvement in, or failure to curb, 
widespread drug trafficking. 

Mrs. Albright said that the United 
States had discussed the latest measures 
with its friends in Asia and Europe. It 
was not clear, however, whether the 
sanctions would be mirrored by other 
nations. 

She defended the decision against 
critics who said it was hypocritical to 
tighten economic pressure on a small, 
poor, inward-looking country like 
Burma while treating the issues of trade 
and human rights separately in China, 
with its enormous commercial and stra- 
tegic clout. 

"We have consistent principles and 
flexible tactics," she said. 

"We will continue to speak out about 
human rights violations whether they’re 
in China, Burma or Cuba. We, however. 

See BURMA, Page 4 


ing President Masashi Suzuki, will re- 
linquish their key powers, and five other 
directors will also step down in a pro- 
icess that shrinks the total number of 
'Jboard members from 43 in February to 
23 beginning May 1. 

act in this wl - 

Fiorillo, a financial analyst at ING Barings 
Securities Ltd. "Nomura has so much 
power here that in toe final hew, a lot of 
business would have to come back." 
Nomura, whose $12 billion in share- 

See NOMURA, Page 15 



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AGENDA 


Peruvians Storm Residence 


LIMA, Peru (AP) — Amid gunfire 
and explosions, Peruvian forces 
stormed the rebel-held Japanese am- 
bassador’s residence Tuesday, and 
soldiers began pulling hostages off 
toe compound roof. 

An estimated 15 guerrillas of the 
Tupac Amaru rebel movement have 
been holding 72 hostages at the res- 
idence since the took over the build- 
ing at a cocktail party on Dec. 17. 

An early report said some hostages 


had been rescued safely. 

People in civilians clothes crawled 
on their hands and knees across the 
roof and were guided down to the 
ground by soldiers in combat gear, as 
tear gas wafted through the air. 

Smoke could be seen billowing 
from the roof of the compound. Sol- 
diers in uniform aimed their weapons 
from the roof of toe compound of 
neighboring buildings. 


Labour’s Campaign Leaves 
Old Mining Town in the Dark 


By Warren Hoge 

New York Tines Service 


i $ 


Newsstand Prices 


Andorra 10.00 FF 

Antftes 1250 FF 

Cameroon ..1.600 CFA 

Egypt — EE 5.50 

F ranee — ......10.00 FF 

Gabon 1100 CFA 

Italy -...aaODUre 

Ivory Coast .1550 CFA 

Jordan 1.290 JD 

Lebanon. XL 3,000 


Morocco 16 Oh 

Qatar.. } 0X0 Rials 

Reunion 1250 FF 
Saudi Arabia ...10.00 R. 
Senegal — 1.700 CFA 
Spain-..-.— 225 PTAS 


Tunisia-... 
UAE. 


...1250 Din 
..10X0 Difh 


U.S. MU (Eur.)..._S120 


H»*ti 

Nine-year-old Chong Yeuk-lam crying as she is led away by Hong Kong immigration officers Tuesday. 

For Girl, 9, No Mercy in Hong Kong 


By Keith Richburg 

Washington Post Service 



HONG KONG — A nine-year-old 
illegal immigrant girl who battled for 
yearn to stay in Hong Kong was taken 
away from her apartment in handcuff’s 
on Tuesday and deported to China. Gov- 
ernment officials warned that children 
now flooding across the Hong Kong 
border face a similar fate. 

The girl, Chung Y-euk-lam, spent al- 
most her entire life as a fugitive m Hon§ 
Kong, speaking fluent 


attending local schools. Yeuk-lam had 
been spirited into Hong Kong along with 
her mother, also an illegal immigrant, 
when the child was only three months 
old. She was only discovered in 1995. 

Little Yeuk-lam had waged a long, 
highly publicized, but unsuccessful le- 
gal fight to remain here, enlisting her 
school teachers for support and even 
petitioning the British governor, Chris 
ratten, who ignored her appeal. 

Immigration officials said that allow- 
ing Yeuk-lam to stay would only en- 
courage the swell of other children 


swarming the Hong Kong border in 
record numbers. 

After her father refused to surrender 
the girl and her mother on Tuesday, 
immigration officers entered toeir apart- 
ment and handcuffed the pair. Leung 
Ping-kwan, the colony's chief immi- 
gration officer, said the unusual force 
was necessary because the girl's mother 
had tried to lull herself by biting off her 
tongue. 

Yeuk-lam was one of 20 mainland 

See CHILD, Page 4 


□gland - 

turnoff for this South Yorkshire mining 
town with the Dickensian name comes 
up shortly after an election billboard on 
the main road saying, * 'Britain is boom- 
ing-" 

The governing Conservatives put toe 
sign up, and it was about as far as they 
felt comfortable venturing toward this 
forlorn place. The residents of Grime- 
toorpe are solid working class, resentful 
of the Conservatives for having shut 
down their coal pits and long loyal to the 
party with the name that sounded fa- 
miliar to them. Labour. 

Now. though. Labour has refash- 
ioned itself as "New Labour" and it is 
conducting a campaign for the May 1 
national election aimed at wooing the 
beneficiaries of the hoom with promises 
of low taxes and limited government 
spending. The targets are toe voters of 
prospering Middle England. None of 
them live here. 

This is the Britain that got left behind 
hy Ilk* luHint and i.s now being left out of 


the campaign. The new Labourites are 
just as scarce in places tike GrimethoTpe 
as the old Conservatives. 

"The Labour Party isn’t on toe side 
of the working people anymore,” said 
Ken Capstick, 55. a former miner and 
union official. 

He recalled that Tony Blair, the re- 
formist leader of New Labour, paid a 
visit in December ro celebrate toe vic- 
tory of the local member of Parliament 
in a by-election and was gone in 15 
minutes. 

The boom has come at toe cost of 
aggravating two divisions in British so- 
ciety. one between toe rich and toe poor. 
the other between the south and the 
north. Grimethorpe. northern and poor, 
is ar toe bottom end of both equations, 
neglected and invisible in the current 
national debate. 

People hen? will most likely vote La- 
bour. if they bother to vote at all. 

Found in die ghettos of reinvigorated 
urban centers or in downtrodden rural 
villages close by affluent towns all over 
Britain, those are places that suffer from 

Sir TOWN, Page 1 1 








INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, APRIL 23, 1997 


PAGE TWO 


The Romanov Gems / An Exhibit on Ice 


Cold War in the Art World 


W ASHINGTON — For three centuries, 
the Romanovs ruled, over a Russia filled 
with mystery. Decades after the death of 
Czar Nicholas Q in 1918, the family's 
jewels are the center of a modem tale of intrigue.* 
Valued at more than $100 million, the jewels lie 
in the vault of the Corcoran Gallery of Art, while 


By Linton Weeks 

Washington Post Service 


other artifacts, priceless gowns and paintings sit in a 
moving van on New York Avenue in downtown 
Washington, bookended by two sedans with Rus- 
sian diplomatic license plates. The international 
feud over who controls the exhibition rages as 
charges and countercharges of nefarious and fraud- 
ulent activity fly. 

It's a post-CoId War tale of cents and sensibility. 
It's a tale of battling lawyers and bureaucrats and 
evolving market systems. And it’s a portrait of a 
man in the center of the controversy: Mikhail Gus- 
man. 47. who describes himself as a Russian teacher 
and journalist but who is said by others to be a 
wheeler-dealer — one of the "new Russians." 

He was hired by the Russian government, be said, 
because he speaks excellent English and is a skilled 
negotiator. "I love your country and respect your 
country," he said by phone on Monday from the 
Russian Embassy. 

The ordeal began early last week. 

On one side is the American Russian Cultural 
Cooperation Foundation, a Washington-based or- 
ganization dedicated, ironically, to 
fostering relations between the two 
countries. On the other side is the 
Russian Minispy of Culture's Organ- 
izing Committee, assembled by : — ' — ^ 

Prime Minister Viktor Chernomyrdin 

to work with the American founds- 

tion. Mr. Gusman is the executive ^^^B 

director of the Executive Committee ■gpl 

of the Organizing Committee. He said 

he used to work for a Russian in- - 

formation agency. Bj ||P 

The show containing the jewels had 
been on display at the Corcoran since gfflKSggj 
Jan. 29 and was extremely popular. 

About 80,000 people filed by a dia- T&r 

mond -studded cornucopia, a ruby that 

once belonged to Catherine the Great 

and a casket fashioned from gold, fr'ffifp- ffijl 

pearls, rubies and quartz. The show 

closed a week and a half ago. The 


a suggestion: If the foundation was not able to 
deliver the jewels to Houston on time, then the 
contract between the museum and the foundation 
would be broken and the $150,000 the museum had 

S aid to the foundation would be returned. Then, Mr. 
faizio said, Mr. Gusman suggested the Houston 
museum could pay the money to the Organizing 
Committee to mount the show. 

Mr. Marzio stud he told Mr. Gusman he would 
not * ‘participate in the scheme he described because 
it violated tne spirit of the agreement the Museum 
has with the foundation." 

"It appeared to me that what Mr. Gusman was 
proposing was, at a minimum, unethical, and I did 
not warn to be a participant in what I believed to be 
a questionable strategy." Mr. Marzio said in a 
telephone interview from Houston. 


M ONDAY, Mr. Gusman insisted that Mr. 

Marzio misunderstood his suggestions. 
"He was absolutely wrong that I 
wanted him to break the contract,' ' Mr. 
Gusman said. ‘ ‘There are two sides to this story. I’m 
not sure that the Russian -side has had tire op- 
portunity to tell its full side of the story. 

"We have a couple of problems with the foun- 
dation," Mr. Gusman continued. "From our point 
of view, the way the exhibit has been handled has 
been very unprofessional, very destructive, not re- 
spectful to the Russian side." 

* ‘They pull the blanket onto themselves," he said, 
using a Russian saying that means to hog the bed- 



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gallery began crating it up so it could 
be delivered to the Museum of Fine Art 


in Houston, where the exhibit is sched- _ 

uled to ran from May 11 to July 20. couecao 

A truck was packed — with cos- 
tumes and other objets d’art — when David Levy, 
director of the Corcoran, received a fax from the 
Russian ambassador, Yuli Vorontsov, instructing 
him not to send the exhibit to Texas, but to return the 
valuables to the Russian Embassy. 

Mr. Levy replied that the Corcoran's contract 
was with the Cultural Cooperation Foundation, not 
the Russian government or the Organizing Com- 
mittee. He said he would keep the jewels locked in 
the museum vault until the matter between tire 
Americans and the Russians could be resolved. 

On April 15, Peter Marzio. a former Corcoran 
director who has headed Houston's Museum of Fine 
Art since 1982, received a call from Mr. Gusman. In 
an affidavit, Mr. Marzio said that during the 45- 
minute conversation, Mr. Gusman expressed dis- 
satisfaction with the way the foundation had handled 
the exhibit so far. Mr. Gusman said, according to the 
affidavit, that he wanted the Houston museum to 
sign a new contract with "the Russians." 

The Houston museum, Mr. Marzio told Mr. Gus- 
man, did not want to break its contract with the 
foundation. Mr. Marzio said that Mr. Gusman made 


A portrait of the Grand Duchess Catherine Alexeyevna from the i Jewels of the Romanovs' 
collection. Some exhibits are being held in a van outside the Russian Embassy in Washington. 


clothes. "Step by step,” he said, "we were removed 
from concrete decisions about the project' ' 

The Organizing Committee is obligated to the 
Russian museums from which the artifacts are 
borrowed, he said, adding that the foundation had 
not adequately reported expenditures or receipts. 

The foundation chose him "as a target," Mr. 
Gusman complained, adding that it was attacking 
him because he was a tough negotiator. 

The Embassy of the Russian Federation issued a 
news release Monday afternoon, .enumerating its 
complaints with the foundation. 

The American group violated the contract between 
the two parties in various ways, the statement said, 
including shutting out the Russian Organizing Com- 
mittee from key decisions, overcommercializing the 
exhibit and not providing adequate security. 

Michael Goldstein, a foundation board member. 


countered that the agreement placed all arrange- 
ments in the hands of his organization. He said the 


charge of overcommercialization was “so absurd as 
to be idiotic.” 

' The foundation has conceded, however, that the 


display cases were inadequate. The alarm system, 
for instance, was rigged to tire lights in the cases so 
that when they were turned off at night, the alarms 
switched to backup power. But, Mr. Goldstein said, 
the problems had been remedied and more secure 
cases would be ready for the Houstoa show. 

"We're not perfect.' * said the foundation’s chair- 
man. James Symington, a former State Department 
chief of protocol and three-term congressman from 
Missouri. ‘ ‘We had to mount this exhibition in four 
.months.- The Russians insisted it come in calendar 
year 1 9963iasty work was done on the cases, which 
resulted iiidefecis." 

He said he was mostly concerned about the 
moving van. "It’s my fervent hope that we can get 
that track out of the damn street That will help with 
the atmosphere of discussion." 

At one point Monday, Mr. Levy announced that 
he thought a tentative agreement had been reached 
and that the truck would be moved to the Russian 
Embassy but not opened until the matter was settled. 
But day stretched into night and the track stayed 
where it was. 


General Andres Rodriguez Dies at 72; Led Coup in Paraguay 


By Calvin Sims 

New Verk Times Service 


BUENOS AIRES — General Andres 
Rodriguez. 72. who led a coup in 
Paraguay in 1989 that ended more than 
three decades of dictatorship by General 
Alfredo Stroessner, died Monday in 
New York. 

A spokesman for the Paraguayan Em- 
bassy in Washington said that General 
Rodriguez had died of complications 
from liver cancer at Memorial Sloan- 
Kettering Hospital. 

General Rodriguez is considered one 
of Paraguay’s most important modern 
political figures for having overthrown 
General Stroessner, who came to power 
in 1954 and won eight straight pres- 
idential elections in Paraguay, mainly 
through fraud and intimidation. 

On Feb. 3, 1989, General Rodriguez 


toppled General Stroessner in a bloody 
palace coup that resulted from a bitter 
dispute over who would succeed the 
ailing General Stroessner. who went 
into exile in Brazil. 

Shortly after the coup. General 
Rodriguez, who had been a bulwark of 
the Stroessner regime, surprised skep- 
tics by restoring press liberties, freeing 
political prisoners, welcoming home 
exiles, and conducting open presidential 
elections. 

Paraguayans elected General Rodrig- 
uez. who first served as interim pres- 
ident. to a four-year term that ended in 
1993, when a businessman. Juan Carlos 
Wasmosy. became Paraguay’s first 
democratically elected civilian presi- 
dent. 

While many historians credit General 
Rodriguez for bringing democratic rale 
to Paraguay, which had known only 


dictators since it won independence in 
1811. others viewed him as an oppor- 
tunist who deposed his mentor to fulfil] 
a Lifelong quest to become president. 

Herbert Zipper, 92, 

Conductor in Dachau 

SANTA MONICA. California (AP) 
— Herbert Zipper. 92. a celebrated Vi- 
ennese conductor who formed a secret 
orchestra in a Nazi concentration camp, 
died here of lung cancer Monday. 

Mr. Zipper had first been imprisoned 
by the Nazis at the Dachau camp, then 
later in Buchenwald. After his family 
got him a visa and rescued him. Mr. 
Zipper went to Manila only to be im- 
prisoned again by the Japanese. He laier 
worked as a secret informant for Gen- 
eral Douglas MacArthur. 

In Dachau. Mr. Zipper recruited fel- 
low inmates who had been in Munich 


and Vienna orchestras to give secret 
concerts to raise the spirits of other 
prisoners. 

Mr. Zipper co-wrote "Dachau 
Song," a resistance song that spread 
from prison camp to prison camp. 


Thomas J. Connor, 91. who had 
such a brief but decidedly eventful ca- 
reer with the FBI that he dined out on it 
for six decades — including 18 Cold 
War years with the CIA, died April 14 in 
Southbury. Connecticut. He was the last 
surviving member of the FBI detail that 
gunned down John Dillinger outside the 
Biograph Theater in Chicago in 1934. 


Dutch Police 
Try Skates 


TRAVEL UPDATE 


Efficiency Drive at UN 
Chalks Up Big Savings 




. to Sa«e 


i: • 


By John M. Goshko 

Washington Post Service 


■ UNITED NATIONS, New York — 
Secretary General Kofi Annan’s cost- 
cutting ra rnpn i ^n has led to managerial 
changes that will save the United Na- 
tions $100 million this year through 
such measures as streamlining procure- 
ment and using the Internet, according 
to a UN report 

The report lists several changes in- 
volving big expenditures, such as sav- 
ing more than $21 million in bringing 
UN peacekeeping troops out of me 
former Yugoslavia by hiring boats for 
specified periods of time rather than per 
voyage. It also covers new techniques 
such as disseminating information 
through an Internet home page rather 
than by putting data on paper. & notes 
efficiency moves such as reducing the 
number of signatures required to au- 
thorize a UN staff member’s business 
travel to one, from 12. 

These steps are being taken in re- 
sponse to the goal set by Mr. Annan last 
month to make more money available 
for social and economic programs by 


international organizations and 

j— . nn mniiiKr users everywhere. 


“The mtenid is f“® . 

does" he said. ‘Tt also is an invaluable 
tool for reaching our goal of cutting the \ 
S*,ti£r of pjer documentanon we * f • 
churn out by 25 percent. ■* 


Zaire Villagers 
Attack Hutu 
With Machetes 


reducing nonprogram costs from 38 per- 
cent of the uN budget to no more than 


25 percent. 

Mr. Annan, who became secretary 
general Jan. I, is under heavy pressure 
from the U.S. Congress to do more with 
less money through far-reaching re- 
forms. Washington’s failure to pay 
more than $1 billion in back dues and 


peacekeeping costs has brought the 
United Nations to the brink of bank- 
ruptcy, and the conservatives con- 
trolling Congress have warned that pay- 
ment of these arrears depends on 
successful reform. 

The most significant restructuring is 


LULA. Zaire — Zairian villagers 
armed with machetes attacked Rwandan 
refugee camps in eastern Zaire on Tues- 
day to avenge the killing of six Zairians, 
witnesses said. 

They said residents of Kasese village. 
25 kilometers south of Kisangani, jeftat 
dawn for two nearby camps for 55,000 
Rwandan Hutu refugees to take revenge 
and that shooting followed. 

“This morning at 6 AAL the vil- 
lagers decided to go and take revenge 
and make the refugees flee. They took 
machetes," said Samy Janga, a Kasese 
schoolteacher. . 


15 . 


“Soon afterwards we heard shooting 
nn for an hour and a half. 


expected to come through downsizing 
of the UN bureaucracy. But reductions 
in these areas still are largely in the 
planning stage. 

The anticipated savings outlined in 


the latest report involve what Joseph 
Connor, undersecretary general for 
management and adminis tration, called 
‘ ‘changes that can be made immediately 
by doing things differently." 

Mr. Connor noted that the majority of 
changes stemmed from 400 ongoing 
efficiency projects assigned to veteran 
UN bureaucrats with instructions to find 
simpler and cheaper ways of doing 
things. "It's straight Management 
101," he said. 

The 51-page report is crammed with 
examples of the changes that have re- 


sulted from this exercise. For example, 
procurement methods were simplified 


greatly after one efficiency team found 
that it cost more than $1,000 to process 
the paperwork on each UN purchase 
even though most items bought cost less 
than $1,000. 

Mr. Connor cited with particular 


which went on for an hour and a half. 
Some villagers ran into the forest to 
hide," he added. 

Travelers said it was impossible to 
pass Kasese because of the fighting. 

Six Zairians were killed and two 
wounded at Kasese on Monday in an 
attack attributed to Hutu extremists by 
the villagers, who stopped aid workers i 
reaching the camp. * 

In Zaire's capital, Kinshasa, French 
troops were preparing to evacuate 
French citizens and other foreigners if 
civil war reaches there. 

General Rene Landrin, commander 
of the 300-member French force stand- 
ing by in neighboring Congo, told Radio 
France Intern ationale that the principal 
task of his troops was to evacuate 
French nationals, but added that the 
French would help "all countries that 
have citizens on Zairian soil." 

President Mobutu Sese Seko was 
looking for a venue to meet with the rebel 
leader, Laurent Kabila, after ruling out 
traveling to South Africa, his son and 
spokesman said Tuesday. He cited die 
fragile of Marshal Mobutu, who is 

suffering from prostate cancer. Nzanga . 
Mobutu said talks were under way to-find 
a new location. (Reuters. AFP ) 


Algerian Guerrillas Accused 
In Worst Massacre of Villagers 


Watkins Reynolds Matthews, 98, a 
why wrangler who spent more than half 
a century presiding over his family's 
showcase Texas cattle spread, died 
April 13 at the historic Lambshead 
Ranch, west of Fort Worth. 


CcmpdeJ hr Our Staff Fran DnpazAa 

ALGIERS — Islamic fundamental- 
ists massacred 93 inhabitants in an 
overnight attack in a village outside 
Algiers, cutting the throats of the vic- 
tims or hacking them to death with farm 
tools, a government statement said 
Tuesday. 

The death toll, which included 43 
women and girls, was the highest in a 
single attack on villagers in more than 
five years of conflict in which Muslim 
fundamentalist guerrillas have been 
fighting to topple the government 

The Algerian government said: "The 
attack showed a savagery without any 
precedent A band of terrorists attacked 
the inhabitants of this isolated agricul- 
tural community, savagely assassinat- 
ing with knives and agricultural tools 93 
people, among them 43 women and 
young girls, and three children . ' ’ 

Another 25 were wounded, including 
1 8 in serious condition. 

The death toll was almost double the 
previous worst attack, early this month, 
when rebels killed all the 52 inhabitants 
of a village in Medea Province, 70 ki- 
lometers (45 miles) south of Algiers. 


The farmstead, about 25 kilometers £ 
from Algiers, is in the plain of Mitidja, 
where armed Islamic groups are ex- 
tremely active. 

Security forces intervened, thus pre- 
venting a worse toll, according to foe 
statement 

Algeria has weathered a series of 
massacres in villages, particularly since 
it set foe date of June 5 for parliamentary 
elections to be held. The attack co- 
incided with die deadline for political 
parties to register their list of candidates 
to compete m foe poll. 

Members ofafamily that fled the area 
described the heavily armed group as 
Islamic guerrillas. They said foe group 
began killing villagers because they re- 
fused to “collaborate." 

Armed groups depend for their sur- 
vival on the aid of simple citizens who 
provide food, money and other neces- 
sities. "We have no more to give. 
They’ve already taken everything," 
said a member of foe family, who ar- 
rived in the capital. 

The government said some of those 
who carried out foe attack had been 
killed. (Reuters, AFP, AP) 


WEATHER 


Agcnce Fmnce-Presse 

AMSTERDAM — 
Dutch policemen, in a 
bid to cut down on a 
street crime wave, are 
swapping their patrol 
cars for roller skaies, foe 
police said Tuesday. 

A team of skaters will 
soon cruise foe streets of 
this canal city for a 
week! on g trial. Officials 
hope foe team of four to 
six young officers will 
chase away Amster- 
dam 's street criminals. 


Tunnel to Open 
In Hong Kong 


HONGKONG (AFP)— A 
long-awaited toll tunnel 
aimed at easing traffic con- 
gestion across Hong Kong's 
harbor will be opened on 
April 30. 

Costing 7.5 billion Hong 
Kong dollars (S970 million), 
the Western Harbor Tunnel 
will be foe third and longest 
link between Hong Kong and 
foe Kowloon Peninsula. 


port unions began foe first in a 
wave of strikes Tuesday that 
could hamper travel in Italy 
over the next two weeks. 

Train, bus. ferry and air un- 
ions have called 26 strikes 
between now and May 4 as 
part of disputes over contract 
renewals and a reorganization 
of foe transport sector. 

On Tuesday, bus, tram and 
metro services were disrupted 
across foe country by a series 
of staggered strikes. 


ivities, particularly in the pyr- 
amids region. ' ' foe tourist au- 
thority said. 

The director of foe Cairo 
opera, Nasser An sari, con- 
firmed that plans involving 
Egyptian and foreign partic- 
ipation were under way and 
said that the details would be 
revealed in foe autumn. 


Europe 


Forecast for Thursday through Saturday, as provided by AccuWeaiher. 


Strike Disrupts 


Millennium Fete 


Transport Strike 
Begins in Italy 


At the Pyramids 


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Egyptian Tourist Authority 
said Tuesday that it planned 
several events around foe 
Sphinx and foe Pyramids to 
ring in foe Millennium. 

“Preparations are under 
way for many different fest- 


Belgian Trains 

BRUSSELS (AP) — A 
strike Tuesday severely dis- 
rupted high-speed train ser- 
vice to Paris, Amsterdam and 
London, forcing passengers 
into long detours or bus rides, 
officials said. 

Another strike is set for Fri- 
day. but talks between unions 
and management, scheduled 
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GE3 


THE AMERICAS 


V 


oeeingnea on Green Education 

Industry Vows to Save ‘Doomsday Kids 9 Prom Diet of Gloom 


.By Joby Warrick 

;-r ■ Washington Plan Service 

WASHINGTON — The problem; as 
some Texas officials (tescnbed ii. was 
the “unbalanced” view that children in 
public schools were getting about pol- 
lution. So two weeks ago, the govern- 
ment got a little help from the experts: 
the biggest polluters in the state. - 
_J : - At a Houston seminar , for educators, 

\ leading oil and chemical corporations 
were invited to offer advice on teaching 
s. children about the environment. The 

A companies helped pay for the seminar, 

fa and some promoted classroom roate- 

rials they had developed for schools. 
One brbehure. produced by Exxon, 
/, touted the advantages of gasoline power 

«{| over electric vehicles. 

The conference, co-sponsored by -the 
. Texas Natural Resources Conservation 

In; Commission, infixriated envw mmwit al 

groups, who . say they had not been in- 
vited. It also focused attention on a 
question gening national attention, es- 
-wrially as the 17th observance of Earth 
Day was marked Tuesday: Who con- 
trols the environmental education of the 
nation’s children?- • ■ - 

Critics of environmental education 
say children are being “scared green” 
by textbooks and a mass media that 
serve up gloomy, politically slanted 
' messages about the planet’s future. 

“We’re creating doomsday kids,” 
said Michael Sanera, a prominent critic 
whose new book, “Facts Not Fean A 
Parent's Guide to Teaching Children 
About the J&vironment,” is being 
hailed by conservatives. “Children are 
getting slogans and dogma instead of 
being (aught to think critically.” 

Environmentalists, however, say that 
both the book ami the seminar are part of 
a nationwide effort by industries mid 
conservatives to discredit environmen- 
tal instruction while simultaneously 
'1. promoting industry-friendly teaching 
materials and textbooks. 

' s' Both sides agree that the criticism has 

* begun to have an effect: One state, Ari- 
zona, has abolished mandatory envi- 
ronmental study in public schools, and 
several other states are considering re- 
vising or killing their programs. Some 
- environmentalists fear a federal envi- 
ronmental education pr o gram could be 
threatened when it comes up for reau- 
thorizaticra in Congress this year. 

Environmental education encom- 
passes a wide range of activ- 

ities that includes environmental sci- 
ence classes as well as coverage of 
ecology topics in social studies or sci- 
ence books. About 30 slates have -en- 
vironmental education programs, 
though many schools offer tittle formal 
instruction, or none at all . 

Schools and teachers who ohoose to 
teach about the environment may select 
from among literally thousands of 
books and' teaching guides;- including 
materials published by textbook compa- 
nies, environmental groups and major 


corporations. In terms simplified for 
children — or in some cases jazzed up 
for the MTV generation — these guides 
introduce students to exceedingly com- 
plex and controversial topics such as 
global climate chang e and wetlands de- 
struction — subjects that confuse ami 
divide many of their parents. 

The quality of the books varies 
greatly. But Mr. Sanera and other critics 
contend that most of the texts not only 
misinfo rm, but mislead. "Environmen- 
tal books tell only one side of an often 
complicated story,” he says. 

. In. his book, Mr. Sanera chips away at 
what he sees as distortions. For instance, 
while children are often shown images 
of smokestacks belching dirty air, they 
rarely are told that air quality has im- 
proved dramatically in the United States 
in the past two decades, he says. 

He faults other books for painting 
technology and Western industry as vil- 
lains. The geography text “Exploring a 
Changing World/’ far example, notes 
that China “has a lot to show the de- 
veloping world aboutproducing food” 
because “(hey rely era h uman labor 
rather than expensive machines.” 
Professionals in thefield concede that 

U.S. Vows to Fight 
Environment’s Woes 

Reuters 

WASHINGTON — The State De- 
partment issued its first of what are 
intended to be annual reports on the 
environment Tuesday and said it was 
pursuing the fight against world eco- 
logical challenges on five fronts. 

. As part of a new “green” focus to 
U.S. foreign policy first announced last 
year, the report said “regional hubs'* to 
promote environmental policies would 
be opened this year in U.S. embassies in 
six countries: Costa Rica, Uzbekistan. 
Ethiopia, Nepal. Jordan and Thailan d. 
Six more hubs will be opened next year 
to help neighboring countries tackle 
problems specific to their regions, said 
the report, issued on Earth Day. 

In a preface to the 32-page report. 
Secretary of State Madeleine Albright 
said the administration was focusing on 
five problems — climate change, toxic 
chemicals, species extinction, deforest- 
ation and marine degradation. 

Both Mrs. Albright and Vice Pres- 
ident A1 Gore, who wrote a separate 
introduction, said environmental prob- 
lems were now considered an integral 
part of U.S. national security. 

Such problems “respect no border 
and threaten the health, prosperity and 
jobs of all Americans.’ ’ Mr. Gore said. 

‘ ‘AH the missiles and artillery in our 
arsenal will not be able to protect our 
people from rising sea levels, poisoned 
air, or foods laced with pesticides.” 

. Mr. Albright said Soviet-era envi- 
ronmental disasters were impeding re- 
form in Russia and central Europe. 


problems exist Some textbooks contain 
errors and some teachers have blurred 
the line between instruction and ad- 
vocacy. But the suggestion that children 
are being brainwashed is “just plain 
wrong” said Kevin Coyle, president of 
the National Environmental Education 
and Training Foundation. 

In 1994, Mr. Coyle’s group com- 
missioned what is believed to be the 
most comprehensive survey of school- 
children's attitudes about the environ- 
ment. Of 2,139 students surveyed na- 
tionwide, die environment ranked 
below AIDS, guns and kidnapping as a 
source of concern. Less than half listed 
die environment as something they 
worry about. 

Other research suggests that envi- 
ronmental awareness actually improves 
children’s confidence, Mr. Coyle says. 
Children believe environmental prob- 
lems can be solved, polls show, and that 
they can play a role in the solution. 

' ‘Kids actually develop a more hope- 
ful attitude because there they can do 
things like turning off lights or not wast- 
ing water,” he said. 

' Mr. Coyle and others believe the 
backlash against environmental educa- 
tion is politically motivated — a view 
supported in a new report by the Center 
for Commerci al -Free Public Education, 
based in California. The report, “En- 
dangered Education.” accuses Mr. 
Sanera of using provocative anecdotes 
to manipulate public perceptions. Its 
authors, Marianne ManOov arid Tamara 
Schwartz, said the stories themselves 
are often distentions of real events. 

Consider, far example, the flap over 
an alleged outburst or activism at the 
Canyon View Elementary School in 
Tucson. In 1 994, second-graders sound- 
ed off to the local newspaper after a 
developer destroyed a patch of desert 
behind! their school to make room for a 
subdivision. “The desert used to look 
beautiful, but now they are wrecking 
it.” wrote a 7-year-old. “People are so 
greedy about money,” wrote another. 

Conservative lawmakers cited the let- 
ters as evidence of environmental edu- 
cation gone awry. Mr. Sanera suggested 
in a newspaper article that the young 
writers were echoing “teachers’ ideas 
about biodiversity or sustainability.” 

The controversy spurred a rollback of 
Arizona’s environmental education 
program, which was abolished die same 
year. Control of funds for environmen- 
tal education was turned over to log- 
gers' and cattlemen's groups. 

But Ron Melnick, the teacher whose 
pupils wrote the letters, says the critics 
got it wrong. Mr. Melnick said his 
youngsters reacted viscerally to die 
sight of bulldozers toppling centuries- 
old saguaro cactuses that they had stud- 
ied during nature walks. The letters, he 
said, were die children's idea. . _ 

“I bent over backward to show them . 
the developer’s side of things,” Mr. 
Melnick said. "It’s ironic that the stray 
is being turned around like that ” 


Tobacco and Politics: A ‘Pariah’ Falls 


> By Kevin Sack 

New York Times Service 

ATLANTA — When Attorney Gen- 
eral Michael Moore of Mississippi filed 
the first lawsuit by a state against the 
tobacco industry, in May 19W, it was 
considered an act of supreme political 
courage, if not seff-ixrunolation. 

Mr. Moore was warned by friends 
that his career would never survive the 


bigtobacco companies. 

These days, by contrast, California’s 
attorney general, Daniel Lungren, a Re- 
publican who is likely to' run for gov- 
ernor, is under heavy attack from Demo- 
crats in the state legislature because he 
has refused to join the 23 state attorneys 
general who have filed lawsuits -drat 
have followed Mr. Moore’s lead. 

The differing experiences of Mr. 
„v Moore and Mr. Lungren reflect how 
V quickly public sentiment has turned 
against the tobacco companies, and how 
that change has emboldened political 
opposition to the industry, particularly 
at the state and local level 
Last week, the industry’s new polit- 
ical vulnerability became more apparent 


when it was disclosed that tobacco ex- 
ecutives have bean negotiating a set- 
tlement that could place the industry 
under strengthened federal regulation 
and cost it hundreds of billions of dol- 
lars. While the talks have been driven 
primarily by legal and financial con- 
siderations, they also have been pushed 
along by rapid changes in the relation- 
ship between politics and tobacco. 

David Kessler, the former Commis- 


istrarioivsaid: “I don’t want to under- 
estimate die enormous influence, (he 
money, the power of (he industry. But I 
believe we’re beginning to see a dramatic 
change in the political landscape.” 

In the last three years, as tobacco 
companies have faced a steady drip- 
drip-drip of revelations about deceptive 
miaritetmg practices, public opinion has 
shifted forcefully against the industry. 

“Most politicians know that you 
don't stand too close to a. pariah in the 
next photo op,” said Dr. John Seffrin, 
chief executive officer of the American 
Cancer Society. 

The political shift began in the 1980s 
with the passage of ordinances in several 
cities prohibiting smoking in public, and 


POLITICAL 


some commercial, places. Then in the 
’90s, whistle-blowers provided anti- 
smoking advocates and reporters with 
insider documents that made a strong 
case that tobacco firms had long known 
their products were addictive and had 
marketed them deliberately to teenagers. 

A turning point, many in the anti- 
smoking movement believe, was a 1994 
congressional hearing in which the chief 
executives of seven tobacco com 




believe cigarettes were addictive. 

John Mantila, a political consultant 
who has worked on anti-smoking cam- 
paigns. said (hat when he played video- 
tape of that testimony for participants in 
focus groups, it elicited ‘ ‘instant re- 
cognition and instant laughter.” . 

The jiy-riminflring documents, and the 
novel legal notion in Mr. Moore's lawsuit 
that cigarette makers should be held li- 
able for Medicaid costs from smoking- 
related illnesses, gave those state officials 
who were inclined to sue the companies 
more impetus to do so. Although fee first , 
state lawsuits were filed by Democrats, i 
the cause has become bipartisan. Five 
Republican attorneys general have filed 
in the last eight months. 


Whitewater Extension Sought Hearings for New CIA Nominee 


LITTLE ROCK, Arkansas — Whitewater prosecutors 
said Tuesday that they had gathered extensive evidence of 
possible obstruction of justice and asked the federal district 
court here to extend the investigating grand jury's term by 
six months. , T . _ _ 

The office of the independent counsel Kenneth Starr, 
cited their obstruction inquiry as well as what it said was 
substantial new information man James McDougal, Pres- 
ident Bill Clinton's former business partner who was re- 
cently sentenced on fraud, charges, in requesting that the 
grand jury’s term -be extended to Nov. 7 from May 7. 

The papers filed Tuesday said Mr. Starr wanted to 
examine possible "concealment and destruction of ev- 
idence and intimidation of witnesses” by unidentified 
parties. 

Capital Mayor Favors Execution 

WASHINGTON — The mayor of the U.S. capital, long 
an opponent of the death penalty, said Monday that he now 
favored executing the killers of police officers. 

“This decision, it was -a difficult one. Mayor Marion 

Barry said at a news conference. ■ 

No one has been executed in Washington | far 40 yens.. 
But Mr. Bany said he would submit a bill to the Qty 
Council calling for the execution of those found gudty of fee 
first-degree murder of on-duty law-enforcement officers. 
The mayorsaid he had made his decision atejg gag 
for weeks over the slaying of wo ftjna of Crfumbia 
policemen who were apparently killed for no reason 
than that they were officers- • \ NS1 * 


WASHINGTON — The Senate Select Committee on 
Intelligence is expected to hold confirmation hearings next 
week on President Bill Clinton’s nomination of the acting 
dA director, George Tenet, as director, people close to the 
committee say. 

On Monday the panel received from the White House the 
official nomination papers for Mr. Tenet, who has held the 
No. 2 job as deputy director of central intelligence since 
May 1995. 

Mr. Tenet would be a replacement nominee for Anthony 
Lake, the former national security adviser, who withdrew 
his name in the face of Republican opposition. (WP) 

Americans Back Gingrich Loan 

ARLINGTON, Virginia — Nearly two out of three 
Americans say the House speaker. Newt Gingrich, should 
be allowed to use a $300,000 loan from Bob Dole to pay an 
ethics committee assessment, according to a new poll. 

The USA Today/CNN/Gallup Poll found 63 percent 
approving of the loan arrangement (AP) 

Quote/Unquote 

President Bill Clinton, announcing new measures that 
require polluting industries to disclose the levels of toxic 
cheaoucais they release into the air, water and land: * ‘We’re 
giving Am erica n s a powerful very powerful early-warning 
system to keep their children safe from toxic pollution. 
We’re giving them the most powerful tool in a democracy 
7- knowledge.” (AP) 




A boat motoring by some of the buildings that were gutted by fire over 
the weekend in the central section of flooded Grand Forks, North Dakota. 


Away From 
Polities 

• Two small-town teenagers were 
arrested and charged with what of- 
ficials called the elaborately plotted 
murders of two pizza deliverymen, 
who were lured to an abandoned 
house in a remote area of Sussex 
County in New Jersey and shot and 
killed when they drew up in a car. The 
victims appeared to have been chosen 
randomly, and their money was not 
taken. Officials said the motive may 
have been the thrill of killing. (NYl) 

■ A truck driver was executed by 
injection for raping and strangling a 
cocktail waitress who had hitched a 
ride. Benjamin Herbert Boyle, S3, 


sentenced to die for the 198S slaying 
of Gail Lenore Smith, was die third 
murderer executed in Texas in eight 
days and the fifth this month. (AP) 

• A fire that destroyed a vacation 

home owned by die president of R. J. 
Reynolds Tobacco Co., Andrew 
Schindler, probably was caused by a 
cigarette discarded by workmen, ac- 
cording to investigators in Wilming- 
ton, North Carolina. (AP) 

• The Citadel, which was accused of 

ignoring the harassment of female 
cadets, canceled classes so students 
at the South Carolina military school 
could attend a day of sensitivity train- 
ing that included group discussions 
about sexual harassment, demeaning 
language and die future of women on 
the campus. (AP) 


Clinton Offers 
‘Creative 5 Aid 
In Rebuilding 
Soggy Midwest 

The Associated Press 

GRAND FORKS, North Dakota — 
President Bill Clinton on Tuesday 
promised a creative federal approach to 
helping residents of the Upper Midwest 
rebuild houses, roads ana utilities dev- 
astated by flooding. 

* ‘The people are, quite literally, in the 
fight of their lives,” Mr. Clinton told 
reporters outside the White House be- 
fore leaving for a helicopter tour of 
Grand Forks, which was swamped by 
the Red River over the weekend. “What 
they have endured is enormous. How 
they are enduring it is remarkable.” 

He added: “We're going to have to 
be prepared to be veiy creative here.” 

James Lee Witt, director of the Fed- 
eral Emergency Management Agency, 
said the cleanup would have to be ex- 
tensive. 

"You’re talking water-treatment 
plants, sewage-treatment plants, 
bridges and roads,” he said. “The in- 
frastructure is totally gone.” 

Mr. Win said his agency was wor- 
rying about how to clean up the debris 
once the waters recede, and how to find 
temporary housing for the thousands of 
people left homeless. 

The cost will be huge, he said. In 
addition to the destroyed bridges and 
roads, about 2 million acres of farmland 
have been flooded and more than 

100.000 cattle have been lost Federal 
officials said the full extent of the dam- 
age — and the repair costs — would not 
be known until the river recedes. 

States and local governments are usu- 
ally ejected to pay 25 percent of the 
cost of rebuilding after a natural dis- 
aster. But Governor Ed Schafer of North 
Dakota and fee state's congressional 
delegation asked fee Clinton adminis- 
tration Monday to pay fee entire bill. 
Governor Ante Carlson of Minnesota 
asked fee federal government to pay 90 
percent. 

Mr. Clinton was to tour the Grand 
Forks area by helicopter and then meet 
wife rescue workers and refugees at fee 
Grand Forks Air Force Base. More than 

2.000 evacuees are staying there. 

Sewage-fouled river water covered 

75 percent of Grand Forks and virtually 
all of neighboring East Grand Forks, 
Minnesota, on Monday. A large section 
of central Grand Forks was destroyed by 
fire. 

All of fee Dakotas and much of Min- 
nesota already have been declared fed- 
eral disaster areas. 




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Director 

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Johan Groothaert 
Gient Strategies Group 
Merrill Lynch International 

Peter Stanyer 

Performance ft Risk Management 
Mercury Asset Management 
, Group PLC 


Peter Jay 
Journalist, 
writer ft broadcaster 

Gordon Bagot 
Director, Head of Research 
ft Consultancy 
WM Company 

Angelien Kemna 
Director of Equity Investment 
Robeco Group 

Lars Nielsen 
Professor of Finance 
INSHAD 

Richard Pagan 
Bonds ft Equities Portfolio 
Analysis 

Salomon Brothers International Lid. 


Jan Mi chi el Hessels 
Chief Executive Officer 
Vendex International N.V. 

Andrew Skirt on 
Chief Investment Officer 
Barclays Global Investors 

Piet Veldhuisen 
Head of Mutual Funds 
Generate Bank N.V. 

Onno Vriesman 
Client Strategies Group 
Merrill Lynch International 

Bill Stack 

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PAGE 4 


ENTERIVATIOIVAL HERALD TRIBUNE, WEDNESDAY, APRIL 23, 1997 



ASIA/PACIFIC 


Defector to Seoul Hints That North Has Nuclear Bombs 


briefly 


hu'° 


By Andrew Pollack 


Mp» - I’orfc Tunes Service 


r SEOUL — The high-ranking Norrh 
Korean defector to have arrived in Seoul 
has implied that his former country has 
nuclear weapons and the ability to use 
them to annihilate South Korea, accord- 


mgto a newspaper report here. 
The Chosun Hbo. South Kore 


The Chosun 2 bo. South Korea's lead- 
ing newspaper, published an essay Tues- 
day that it said was written by Hwang 


Jang Yop in August, as he was preparing 
to become the highest-level North Korean 


to become the highest-level North Korean 
official ever to defect to the South. 

"North Korea is capable of turning 
South Korea into a sea of flames and can 
completely annihilate the South with 
nuclear and chemical weapons and mis- 
siles," the essay says. It also states that 
North Korea would reduce Japan to 


ashes if the United States intervened in a 
war to help South Korea. 

It has long been suspected that North 
Korea has the plutonium and technology 
to make an atomic bomb. But it has been 
unclear whether the Stalinist regime ac- 
tually has any bombs or the ability to 
launch them. 

So Mr. Hwang's statement could add 
some new information and raise some 
new fears. 

Experts reacted cautiously. "That's a 
very strong statement," a Western ana- 
lyst said "It certainly is something that 
bears thinking about and maybe wor- 
rying about, but until we know more we 
can ’t go much beyond it." 

First, it is impossible to confirm the 
authenticity of the document. The news- 
paper, which is known to have close 
contacts with South Korean intelligence. 


did not say how it obtained the essay. 

There is also the question of whether 
Mr. Hwang, who was a top ideologue, 
would have known military secrets. The 
documentdoes not mention any specifics 
about weaponry. And at another point it 
says that North Korea is "developing” 
nuclear and chemical weapons. 

An official in South Korea's Defense 
Ministry said that more information was 
needed to assess what has been written, 
but added, "We are not so astonished" 
by the essay. 

A U.S. official said the United States 
‘ ‘can't vouch for its authenticity,’' but is 
studying tbe document and is likely to 
discuss the issue with Mr. Hwang when 
it gets a chance to interview him. 

Mr. Hwang is now in a secret location, 
where he is being debriefed by the South 
Korean intelligence service. 


Since Mr. Hwang sought asylum at 
South Korea's consulate in Beijing on 
Feb. 12, the Chosun Bbo has been pub- 
lishing a series of letters he supposedly 
wrote over the last year. 

While the handwriting has matched 
Mr. Hwang's, some experts suspect the 
letters might have been fabricated by 
South Korean intelligence, or that Mr. 
Hwang had been coached to write them. 


Many U.S. and South Korean officials 
have thought that North Korea, which is 
suffering severe food and fuel shortages 
and a collapse of industry, would not 
wage a war that it is sure to lose. 


But the essay, amplifying remarks 
that Mr. Hwang made Sunday when 
he arrived in Seoul, said that North 
Korea "believes it will win a war" 
and that anyone who doubts its will- 


ingness to go to battle is "stupid." 

In 1994, North Korea and the United 
States signed a pact designed to stop 
North Korea’s nuclear power develop- 
ment program. Instead, the United 
State, South Korea, Japan and other 
countries are to provide North Korea 
with a type of nuclear reactor from 
which it is more difficult to divert 
plutonium for bombs. 

But so far the North's nuclear fa- 
cilities have not been inspected to deter- 
mine whether plutonium might have 
been diverted in the past 

U.S. officials have said that they 
thought North Korea had collected 
enough plutonium for one or two 
bombs. 

It was already well known that North 


Indonesia Sentences 
2 Labor Activists 


>" ts Fr 


'.A'-'*, m 


■*+ — — WWKCli 

Korea possesses chemical weapons ana appeal, 

that it has been developing missiles. leftist P 


SURABAYA Indonesia — An 
Indonesian court on Tuesday sen- 
tenced two leftist activists accused 
of fomenting labor strife to four and 
six years in jail for subversion. 

The court in Surabaya, Indone- 
sia’s second-largest city, sentenced 
Dita Indah Sari, 30, to six yeara in 
fail and Coen Husein Ponton. 27, to 
four years for manipulating, un- 
dsrmiaiag and deviating &o m 

accused of 

organizing a strike in Surabayain 
My in which as many 20,000 
workers took part, said they would 
appeal Both are members of the 
IerastPeople’s Democratic Party. 

r (Reuters) 






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North Korea 
Bids for More 
Food as Talks 
Stall in N. Y. 


By Michael Dobbs 

Washington Post Service 


WASHINGTON — North Korea is 
seeking firm promises of additional 
food aid as a condition for committing 
to join four-party negotiations aimed at 
a permanent peace on the Korean Pen- 
insula. according to U.S. officials. 

Talks in New York that began April 
1 6 and were designed to lead to a peace 
conference — to include both Koreas. 
die United States and China — have 
reached an impasse over North Korea's 
request for the food aid pledge. 

The United States sought to over- 
come the obstacle by saying that Wash- 
ington may be willing to provide more 
food aid to North Korea as long as there 
is no direct linkage between such as- 
sistance and the peace talks. America's 
official position is that food aid is a 
purely humanitarian issue. 

[South Korean diplomats were Hying 
home Tuesday from New York, but 
officials in Seoul said they remained 
hopeful that the North would eventually 
agree to talk peace, Reuters reported.] 
The Americans and North Koreans 
held working-level talks Sunday in 
New York and agreed to meet again but 
without specifying a time or place, a 
State Department official said. 



China Official 
To Visit U.S. 

A Week After 
Dalai Lama 


Journalists Cleared 
Of Libel in Taiwan 


- :.s r^SiWE 




TAIPEI — Two journalists were 
found innocent Tuesday of crim- 
inal charges that they had libeled a 
senior politician of the governing 

party in a case seen as a test of free 

speech in Taiwan. . 

Judge Lee Wei-hsm of District 
Court ruled that Ying Chan, an 
American journalist, and Hsieh 

m « ■ — VQiiArf o r 


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South Korean rangers running through a burning hoop Tuesday in training in Chungchon-South Province. 


"There is a bit of a muddle in New 
York right now, a diplomatic muddle.’ * 
said the State Department spokesman 
Nicholas Burns. "The North Koreans 
need to make a fundamental decision: 
Do they want to go forward with four- 
party talks or not?" 

The Clinton administration had been 


hopeful that the Communist regime in 
Pyongyang would agree last week to 
take part in the four-party peace con- 
ference. 

According to Stale Department of- 
ficials, North Korean diplomats orig- 
inally gave a positive response Wed- 
nesday but then sought to link their 


agreement to promises of more Amer- 
ican food aid. 

Mr. Bums said Washington was pre- 
pared to consider further requests for 
assistance from the World Food Pro- 
gram. But he insisted that the food aid 
could not be given as a ‘ ‘ precondition ’ ’ 
for starting the talks. 


BURMA: U.S. Bans Any New Investment There , Citing Repression 


Continued from Page 1 


have to have a flexible approach to bow 
we deal with it, depending upon what 
our national interests are. And we have 
to understand where we have strategic 
relationships that require us to take a 
different approach.” 

Michael Jendizejczyk. Washington 
director of Human Rights Watch/ As La. 
agreed with Mrs. Albright that the situ- 
ations in Burma, which had "singled 
itself out for stigmatization in the eyes of 
the world." and China, which was strug- 
gling to manage "profound change," 
were fundamentally different. 

He welcomed the U.S. move, saying 
that it would increase pressure on Asian 
countries and others to take a tougher 
line with Burma. 

"This decision will up the cnte for the 
Japanese, and especially the Association 
of South East Asian Nations," he said. 
"They will now be under greater scru- 
tiny to justify their constructive engage- 


ment approach and prove that it has had 
concrete results." 

ASEAN is planning to invite Burma 
to join in July. 

The European Union decided last 
month to suspend preferential trade ben- 
efits to Burma, and Mr. Jendrzejczyk 
said the action Tuesday could trigger 
debate in some European parliaments 
about further measures. 

The United Nations Human Rights 
Commission passed a resolution last 
week voicing concern about rights vi- 
olations in Burma, including extraju- 
dicial, summary and arbitrary execu- 
tions, deaths in custody, torture, 
arbitrary arrests and forced child labor. 

The sanctions announced Tuesday ap- 
ply only to new investment, leaving cur- 
rent investors untouched. The United 
States is the founh-largest investor in 
Burma, after France. Singapore and 
Thailand. 

The largest U.S. investor now in the 
country is Unocal Corp., which has 


joined the French petroleum company 
Total in a SI 2 billion partnership to 
explore for and exploit natural gas 
fields. 

Roger Beach, chairman of Unocal, 
which is based in California, said during 
a visit to Bangkok that the sanctions 
were counterproductive and would hurt 
the Burmese people, but would not af- 
fect his company’s investment. Reuters 
reported. 

Some points of the sanctions re- 
mained unclear and will not be known 
until President Bill Clinton signs the 
order in the next few days. One of those 
was whether companies now investing 
in Burma will be permitted to increase 
their overall levels of investment. 

Mrs. Albright said the United States 
had urged Burma’s leaders, to little ef- 
fect, to begin a serious dialogue with the 
National League for Democracy, the op- 


Aborigines Portrayed 
As Cannibals in Book 


position group led by Daw Aung San 
Suu Kyi. and with representatives of 


Suu Kyi. and with representatives of 
ethnic minorities. 


Compiled by Our Staff Fran [fupaictttt 

SYDNEY — Supporters of a rightist 
member of Parliament who has said that 
Australia was being “swamped by Asi- 
ans' ' have now published a book claim- 
ing that Aborigines were cannibals. 

The book, "Pauline Hanson: The 
Truth." written by a supporter of the 
member of Parliament, claims that Ab- 
origines who lived in northern Queens- 
land in the 19th century ace infants and 
older members of their tribe. 

Henry Reynolds, senior research fel- 
low at James Cook University, said on 
radio. ‘ ‘I don’t think there’s any credible 
evidence in the historical anthropolo- 
gical literature to sustain that" 

Julie Finlay son. at the Center for Ab- 
original Economic Policy Research in 
Canberra, said that in some Aboriginal 
societies there were highly ritualized oc- 
casions "where some part of the deceased 
body may be eaten" to take in the dead 
person's "spiritual qualities.' TAP, AFP) 


CanpM bj Our ia&Fru* Dispttckn 

BEIJING — The Chinese govern- 
ment said Tuesday that it opposed a visit 
to the United States by the Dalai Lam a, 
but signaled its desire to preserve im- 
proved U.S. ties by announcing that For- 
eign Minister Qian Qichen will visit 
Washington next week. 

At his regular briefing, the Foreign 
Ministry spokesman, Cui Tiankai, said 
Mr. Qian would meet President Bill 
Clinton, Vice President A1 Gore and 
Secretary of State Madeleine Albright. 

The Dalai T-ama, viewed by China as a 
dangerous independence activist, is vis- 
iting Washington this week to gather 
support for his campaign to win 
autonomy for his Tibetan homeland. 

Washington will be "conniving with 
and supporting the Dalai Lama’s activ- 
ities to split the motherland" if it allows 
him to visit or meet American leaders. 
Mr. Cui said. 

"It will be interfering in China’s af- 
fairs and we resolutely oppose this," Mr. 
Cui added But he stopped short of de- 
manding that the visit be stopped, saying 
instead that it should be “carefully 
handled" 

"We feel that some of tbe present 
improvements in China-U.S. relations 
have not come easily,” Mr. Cui said 
"Tire two sides should treasure this situ- 
ation.” 

Clinton administration officials said 
Tuesday that Mr. Clinton was expected 
to meet tbe Dalai Lama on Wednesday at 
the Whitt House. The exiled Tibetan 
leader will meet with Vice President A1 
Gore at his offices, and Mr. Clinton will 
make a “drop- by visit" during those 
talks, the officials said 

The meeting will be similar to a ses- 
sion Mr. Clinton had last week with 
Martin Lee. the democracy leader from 
Hong Kong, who has also drawn 


Chung-liang, a Taiwanese reporter, 
had met the requirements of good 
intent under Taiwanese libel law. 

The two, who had faced up to 
two years in prison if convicted, 
were not available for comment. 
But Ms. Ch an , who also writes for 
the New York Daily News, said 
Monday that she saw the case as 
crucial to reporters’ willingness to 
tackle controversial topics. 

Liu Tai-ying, head of the Na- 
tionalist Party’s Business Manage- 
ment Committee, brought the 
charges over a report by the two in 
Hong Kong's Yazhou Zhoukan 
magazine that he offered a S 1 5 mil- 
lion donation to Bill Clinton's cam- 
paign. The source for the story. 
Chen Chao-ping, a Taiwanese lob- 
byist, defended die article but 
settled after Mr. Lhi sued him/AP). 


.. vjjwije* 

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Terrorist’s Appeal 
Rejected in Japan 


should not erode freedoms in Hong 
Kong when Beijing regains control of 
the British colony on July 1. 

Mr. Qian's visit also comes despite 
Washington’s support for a failed effort 
to censure China last week at die UN 
Human Rights Co mmissi on in Geneva. 

China acted against smaller countries 
that backed the UN effort. 

It canceled die visit of a minister from 
Denmark, which sponsored the censure 
effort, and a four-country European tour 
by Deputy Prime Minister Zhu 
Rongji, (AP, Reuters) 


TOKYO — A Japanese appeals 
court on Tuesday upheld a lower 
court decision to sentence a mem- 
ber of die Japanese Red Army to 
life imprisonment for mastermind- 
ing two hijackings in die 1970s. 

Judge Mjtsuru Kobayashi of the 
Tokyo High Court rejected Osamu 
Maruoka’s appeal against a life 
sentience handed down by a lower 
court hrl993, saying he was re- 
sponsible for "extremely danger- 
ous and vicious crimes." 

Judge Kobayashi said Mr. 
Maruoka, 46, was guilty of mas- 
terminding two hijackings of Japan 
Airlines planes in the 1970s. 
Maruoka appealed Tuesday's rul- 
ing to the Supreme Court. 

In 1973, Mr. Maruoka’s group 
hijacked a JAL plane bound for 
Tokyo from Paris and forced it to 
land at Dubai. After releasing the 
hostages, die group blew up the 
plane in Libya. 

In 1977, Mr. Maruoka led a Ja- 
panese Red Army group in the hi- 
jacking of a JAL flight to 
Bangladesh. (Reuters) 


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For the Record 


Heavy rains- and flooding 
touched off two landslides on the 
Western Pacific island of Pohnpei, 
killing at least three people. Sixteen 
others were missing. (AP) 


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INTERNATIONAL CLASSIFIED 


CHILD: 9-Year- Old Illegal Immigrant Is Deported to China 


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TODAY’S 


BUSINESS 

MES SAGE 

OTHER 

and 

Automobile 

Market 


Appear* on Page 7 


Oitf Nbk SfteoaJ Headi.Tr 


REAL ESTATE IN THE 
SOUTH OF FRANCE, 


Real Estate 
for Sale 


Continued from Page 1 


RIVIERA & MONACO 

agttarc or Friday. 25ffl tpl 


Belgium 



Chinese children deponed Tuesday. As 
local papers have covered the little girl’s 


losing campaign, her sad face came to 
symbolize the plight of the hundreds of 


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International 
Herald Tribune 
ads work 


mainland children who have been flood- 
' ing illegally over the bonder in recent 
weeks — most with the help of shadowy 
maritime smugglers known as "snake- 
heads" — to be reunited with their par- 
I ents in Hong Kong. 

Almost all of tbe children have Hong 
Kong fathers, and under the Basic Law 
j are guaranteed the right to live here after 
Hong Kong reverts to Chinese rule July 

More than 1,500 children have 
crossed the border illegally this year — 
already twice the number that crossed 
during all of 1996 — and social workers 
have warned that thousands more may 
be on the way as the children try to get 
here before July l. 

In Guangdong Province, public secu- 
rity officials and local community groups 
have warned that as many as 130,000 
children are waiting on (he other side of 
foe border in southern China, all with the 
right to live in Hong Kong. If they came 
over at once, it would severely strain 
Hong Kong 's already overburdened edu- 
cation and social welfare system. 

Because of the wording of the Basic 
Law. the children and their parents be- 
lieve they cannot legally be forced to 
leave after July I. Atony here fear that 
border controls will become even more 
strict once China officially takes charge. 

But the incoming Chinese chief ex- 
ecutive for the territory, Tung Chee- 
hwa, on Monday dashed any hopes that 
the children might be allowed to remain 
after July 1. 

In a local television interview broad- 
cast Monday night, Mr. Tung said the 
children would be allowed to come here 
under an orderly, official arrangement 
only after they proved their identity and 


their genuine status as the offspring of 
Hong Kong parents. 

‘ ‘If they sneak into the territory before 
their status is confirmed, they win be 
sent back," Mr. Tung said. 

Mr. Tung added that he would be 
traveling across the border to Guang- 
dong Province on Sunday for talks with 
local Chinese officials on ways to stem 
the human tide. 

Chinese officials currently allow in 60 
children each day, but Mr. Tung wants to 
increase that number to 100. 

But the children themselves, and their 
parents, complained here that corruption 
on the ocher side of the border had dis- 
rupted the orderly process. They said 
that Guangdong officials frequently 
asked for large bribes before allowing 
eligible children to be placed on die 
waiting list to leave, ana even once on 


the list, the bribe amounts continued to 
escalate along with the waiting time. £ . 
Some Of the children have ctno-ed fieri- ** - 


JJTU Vifi//«rv llhwfn 

v imrturv Ifefon 


odic demonstrations and sit-ins in front 
of Hong Kong government office build- 
ings, urging the government not to send 
them back to the mainland. 

The Hong Kong police said they were 
now increasing cross-border intelli- 
gence-sharing with their main land coun- 
terparts, in anew effort to try to stem the 
human flow. 

Mr. Leung, the immigration officer, 
said Chung Yeuk-Iam and her mother 
had to be deported in the face of the huge 
numbers now swarming over the border 
and the others waiting to come. 

"If we give them special treatment," 
Mr. Leung said, "it would send a wrong 
signal to other parents that it is all right to 
smuggle their children to Hong Kong. ’ ’ 


•J 

• 1 J* ' S' 


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India Parliament Endorses New Leader, ■ 

But Congress (I) Conditions Its Support 


0„ 'r U ‘ llrt ' Panel 


Rearers 

NEW DELHI — Prime Minister 
Inder Kumar Gujral of India won a 
vote of confidence in Parliament on 
Tuesday, a day afteT his center-left 
government took office. 

The speaker of die lower house, 
P.A. Sangma, announced that Mr. 
Gujral, the fourth prune minister in a 
year, had won the voice vote at the end 
of more than 10 hours of debate broad- 
cast on national television. 

Mr. Gujral’ s victory had been ex- 
pected. He had the support of both his 
United Front coalition, with 178 votes 
in the 542-member lower house, and 
the Congress O) Party, with 140. 

Congress helped to topple Mr. 
Gujral’s predecessor, H.D. Deve 
Gowda, in a voce of confidence on 


April 1 1, but pledged to support anew 
center-left government provided it 
found a new leader. Mr. Gujral was - 
chosen by the United Front as its trad- 
er Saturday and sworn in Monday. 

Mr. Gujral. 77, was opposed fry the 
Hin d u nationalist Bharatiya Janata 
&W. which with its allies controls 
193. voces and is the single biggest 
party in Parliament. - 

Congress (I) promised to back Mr. 
Gujral for the remaining four years of 
the Lok Sabha, or lower house, but 
with conditions. Former Finance Min- 
ister Manmohan Singh, the Congress 
economic policy adviser, said that Mr. 
□ujrajstennre hinged on thesnccess 
or a coordination committee set up by 

a ?L the u ^ited Front to sort 
out policy differences. 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, APRIL 23, 1997 


PAGE 5 



EUROPE 


ection 


s i .» 


■ Nothing to Fear , ; Juppe Insists 

CtorrSt J t*r Ow Suff Fm* Dapaxhn 

. PARIS -—Prime Minister Alain Juppe of France rallied his 
forces Tuesday for an early padiafoentaiy election campaign 
. that will be dominated by European issues. 

Mr. Juppe again voiced support for a’ single European 
currency, foe euro, which will be the central battleground after 
President Jacques Chirac called elections almost a year early 

• in what analysts said was a major political gamble. 

France’s partners in foe European Union regard Mr. Chir- 
■ ac s decision as a bold move that could make or break 
economic and monetary union. 

France has nothing to fear but everything to gain from the 
; euro, everything to gain from the Union, everything to gain 
. from Europe," Mr. Juppe said in an address to legislators and 
' senior members of his often fractious center-right coalition. 
“We must have the euro now because afterward it will be 

• ton late,* be said, setting out his main campaign themes for 
! voting scheduled for May 25 and June I. 

The prime minister argued that France needed a gov- 
' eminent with a renewed legitimacy to prepare for foe single 
. currency and to reform the state, cutting public spending and 
; taxes. ' 

The Socialist-led opposition accused Mr. Chirac of pre- 
paring a new bout of austerity. , 

Mr. Juppe said his party would build a modern, slimmed- 

• down state, would free companies from too much regulation, 
;cut spending and taxes and continue to build a "grand 

• Europe" with a single currency while defending France’s 

• interests. • 

"Let us be the motor of this great adventure," he urged 
"National interest dictates that we must win because France 
cannot allow itself another Socialist fiasco,” he said to cheers 
and applause. 

As the campaign began, the government postponed its 
biggest privatization project, the skle of a minority stake in 
'France Telecom. (Page 18) - ■ i \ 

The Socialist leader, Lionel Jospin, accused Mr. Chirac of 
veering toward a harsher brand of capitalism. 

The leader of the far-right Natiqnal Front, Jean-Marie Le 

• Pen, accused the president of an “electoral holdup, a shameful 
swindle." 

A former Socialist prime minister, Laurent Fabius, said that 
; the election decision could backfire on Mr. Chirac. 

"Will the French say ‘bravo* to foe rise in unemployment, 

• 'great* to the rise in taxes, ‘well done’ for the increase in 

poverty? I doubt it,” foe Socialist parliamentary floor leader 
told Europe 1 radio. ■ • . 

"We are clearly favorable to a single currency, but not to 
the detriment of foe country's interests," Mr. Fabius said “If 
we w in. we must very quickly hold lqlks with the Germans and 
other countries on two or three questions, that is central.' ' 

He insisted that the left had a- 50-50 chance of victory. 

• Opinion polls taken before Mr. Chirac's announcement sug- 
gested the opposition's chances were more remote. 

The center-right coalition held 465 seats in foe dissolved 
577-member chamber, giving it a formidable advantage of 
incumbency despite Mr. Chirac's and Mr. Juppe's deep un- 
popularity. 

Opinion polls indicate that Mr. Juppe's coalition will lose a 
substantial number of seats but will still win a reduced 
majority in Parliament, where it has reigned since it routed the 
left in the last parliamentaiy voting, in 1993. (AFP, Reuters ) 







.... . 

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V: 






Businessman in Cash Scandal 
‘Felt Sorry’ For Ex-Irish Leader 

DUBLIN — The growing scandal involving large cash 
payments to members of foe Irish Parliament took a 
sensational turn Tuesday as Ben Dunne, the former chief 
executive and part owner of Ireland's largest department 
store chain, told a government tribunal that he haid handed 
former Prime Minister Charles Haughey three checks 
worth about $320,000 while the two men had tea at Mr. 
Haughey’s home in 1991. 

"I felt sorry for the man," Mr. Dunne told the tribunal- 
in Dublin Caitie. "He looked down. He looked a broken ; 
man." 

Mr. Haughey, after surviving several attempts by his 
own party. Fianna Fail, to remove him as an ineffective 
leader, was ousted as .prime 'minister in 1992. Mr. 
Haughey. 71, has denied receiving any 'money from 
Dunnes Stores, but is expected tq be subpoenaed by the 
tribunal, which is looking into reports that Punnes gave 
members ofParli ament more than 55 million in foe last 10 
wars. . • . . 

The scandal has caused widespread anxiety in the Irish 
political establishment in foe buildup to a national par- 
J lament ary election expected within a month. (NYT) 

NATO Military Chiefs Discuss 
Command Structure Reform 

BRUSSELS — NATO's military chiefs met Tuesday 
to try to agree on a streamlined command structure that 
would allow the alliance to cut defense spending while 
gaining greater flexibility for more varied types of mis- 
sions. . . .. . 

North Atlantic Treaty Organization sources said foe 
alliance’s 16 chiefs of defense staffs were set to approve 
reforms that would divide Europe into two- zones, one 
north and one south, but faced problems carving up a 
lower level of regional commands between member 
states. . . 

The current package of reforms, considered crucial if 
NATO is to have a real role in foe post-CoId War world 
and take in new members from former Communist 
Europe, seeks to move from 65 headquarters at four 
command levels to 25 at three levels. t Reuters ) 

EU Science Panel to Report 
On Easing of U.K. Beef Ban 

B R USSELS — A group of European Union scientists 
has been asked to report by foe end of May on a proposal 
to ease the British beef export ban for certified herds, a 
European Commission spokesman said Tuesday- 

Farm Commissioner rranz Fisctaler and Food Safety 
Commissioner Emma Bonino wrote a joint letter to foe 
British government last week saying foai a request to ease 
the ban was being considered, foe spokesman said. 

Britain proposed in February that foe ban be partly 
lifted to allow exports of beef from Northern Irish and 
other herds guaranteed to be free of bovine spongiform 
encephalopathy, or “mad cow” disease. {Reuters) 

Main Bulgarian Parties Give 
Support to Winner's Program 

SOFIA — Bulgaria’s main political forces gave broad 
support Tuesday ro a program devised by the party that 
won the elections Saturday. . _ _ .. 

After talks with foe Union of Democratic Forces, foe 
other parties in the new Parliament said they supported 
the principles of its economic plan. • 

The Union's priorities are reforms agreed to with the 
International Monetary Fund, fighting 

R Union ■ 


r a , 

Bulgaria into the European Urnoo-j 



West Europe’s Dry Spots Thirst for Rain 


By Tom Buerkle 

tnic manorial Herat J Tribune 


lua-Uwp Guom/Agcncc France -fma 

Prime Minister Alain Juppe, right, and 
his government ally, Francois Leotard, 
agreeing after strategy talks Tuesday. 


BRUSSELS — In Portugal and France, an 
absence of winter rains has left fields and 
pastures parched, and formers are dreading foe 
prospect of a long, hot summer. In England, 
foe longest dry spell in more than 200 years is 
putting paid to time-honored cliches about foe 
cool, damp weather. 

Across wide pans of Western Europe, a 
worsening shortage of rainfall is threatening to 
cause havoc for fanners and gaideners alike, 
and leading some experts to warn that global 
wanning could be putting many areas of the 
Continent at risk of drought. 

"There would appear to be an increased 
frequency of droughts in the U.K. and in other 
areas of Europe," ' said Alan Gustard. the head 
of risks and resources at the Institute of Hy- 
drology in Wallingford, England. 

"The volatility^ variability of the climate 
seems to be increasing." he said, with hotter, 
drier summers offset only in pan by werter 
winters. Although there is yet no concrete proof 
that the volatility is a man-made phenomenon 
caused by the increase of carbon dioxide and 
other greenhouse -effect gases, the changes 
“are commensurate with what you would ex- 
pea from global climate change," he added. 

"The consequences of fiiture climatic 
change may affect water availability" across 
all of Western Europe, warns a draft report on 
water resources completed recently for the 


European Environmental Agency. While wa- 
ter management has long been a priority in 
Europe's semi-arid regions around the Medi- 
terranean, "a greater area may be susceptible 
to desertification as a result of global warm- 
ing." it says. 

Other experts are more cautious. They note 
that the driest conditions currently prevail 
along the Atlantic coast, from Portugal through 
much of France and Belgium and into Britain. 
The main reason is a low-pressure system that 
has been anchored off foe coast for foe past 
three months, pushing to foe north foe winter 
rains that normally flow in off foe Atlantic. 

"It could be explained by normal weather 
patterns," said Guy Oberlin. director of re- 
search at Cemagref. a French environmental 
and agricultural research agency in Lyon. 

What's more, rainfall has been downright 
abundant in pans of Europe. In the Rhine 
Valley and Black Forest regions of Germany, 
winter rains have been two to three rimes the 
average in foe past three years. 

Drought "is not foe case in foe middle of 
Europe." said Volker Ventschmidt. head of 
foe climate and environment department at foe 
Global Precipitation and Climatology Center 
in Offenbach. Germany. 

In Spain, which has been suffering its worst 
drought of foe century for foe past decade, 
reservoirs in much of the country have been 
restored to as high as 90 percent of capacity by 
the soggiest winter in about 30 years. 

But those figures provide little comfort for 


Europe's dry regions. By far foe biggest risk is 
in France, where in many regions rain has been 
falling at only about one-third of foe seasonal 
average so far this year. Ten of foe country's 
96 departments have imposed restrictions on 
water use, and foe Environment Ministry’s 
drought committee will consider more drastic 
measures ai the end of the month. 

The biggest problems are in foe west and 
north. Groundwater levels have already been 
reduced by three to four years of below- 
average rainfall, which increases foe risk of 
pollution from pesticides and other chemical 
runoffs. Rationing could be necessary this 
summer that would affect ihose regions' big 
grain-farming and tourism industries, Mr. 
Oberlin said. 

In Portugal, a similar drought has been 
exacerbated by premature growth during a 
warm winter that has put foe grain crop at nsk. 
Agriculture Minister Fernando Gomes da 
SU va told his European Union colleagues at a 
meeting in Luxembourg on Tuesday. 

In England and Wales, foe past 24 months 
have been foe driest two years since record- 
keeping began in 1769. with rainfall averaging 
77 percent of normal. That's far from Sahara 
conditions, and reservoir* in foe west and 
north are mostly full. But areas in foe South- 
east that depend on groundwater reserves 
could face restrictions on foe use of sprinklers 
and hoses, said Janet Langdon. director of foe 
Water Services Association, which represents 
private water utilities in England and Wales. 


So small, it will change your perspective. 


r\ 



Forget those big mobile phones of the past. The Ericsson GF788 is 
so small it hides in your hand. Forget poor sound quality, here is a phone that 
lets you sound like you. Forget about having to keep your calls short, 
with this phone you can talk for hours. The Ericsson GF788 is easy to use, 
even though it is packed with features. And it comes in four discreet colours. 

It will change the way you look at mobile phones. 

ERICSSON 


■symrSv 


..yi. 'I'uyj b ? ^ . t-.- 


-j. ... 


PAGE 6 


INTERNATIONAL HERALD TRiBt WEDNESDAY, APRIL 23. 1997 


INTERNATIONAL 


A- ' 


Netanyahu Escapes Indictment, but Only He Is Scoring It a Victory 


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By Serge Schmemann 


.Vi*m l>ir> fiiMi Scrifrc 


JERUSALEM — A few minutes 
after the attorney genera! finished an- 
nouncing that he did not intend to indict 
the prime minister, a jaunty Benjamin 
Netanyahu came on the air to declare 
that another challenge by his political 
'enemies had been firmly rebuffed. 
Thus, he could continue on his chosen 
path. 

But just as every’ one of (he scandals 
and crises that have regularly shaken his 
administration in its first 1 0 months has 
-changed the political lay of the land, this 
one was certain to do the same. 

First of all. Mr. Netanyahu is now on 
political probation. 

Several key members of his coalition 
— including Natan Sharansky of the 
Russian emigrants' party, who had ex- 


pressed strong reservations about stay- 
ing in the government if even part of the 
allegations proved true — have rallied 
behind the prime minister, though now 
their support is wary and not uncon- 
ditional. 


NEWS ANALYSIS 


Mr. Sharansky's Yisrael B' Aliya 
Party said if would remain only if new 
mechanisms were put in place for mak- 
ing appointments. 

Yehuda Harel. leader of the Third 
Way Party, indicated he would not pull 
out. but only because he found the op- 
position too distasteful. 

Another immediate consequence was 
that the idea of a national-unity coalition 
with the Labor opposition is probably 
off. 

Over rhe last several months. Mr. 


Netanyahu has often dangled the pos- 
sibility' of bringing Labor in. and the 
tactic served both to keep hi* ow n right- 
wing partners in line and to mine attacks 
by the Labor Party. 

But after the attorney general's re- 
port. Shimon Peres, the leader of the 
Labor opposition, and all the chal- 
lengers for his place, seemed to sense 
that the rime had come to take off their 
gloves against the government. 

Yossi Beilin, one of the Labor figures 
contending to succeed Mr. Peres as 
party leader, was one of the first. 

On Sunday evening, he said: "A 
criminal would feel pleased on such a 
night, but a prime minister would 
resign, and Bibi has to decide if he is a 
criminal or a prime minister." 

However convinced Mr. Netanyahu 
may have been that he had emerged 
victorious, the fact was that the report 


issued by the attorney general, EUakim 
Rubinstein, and the state attorney' Edna 
Arbel. drew a most unflattering portrait 
of a prime minister. 

In the most favorable interpretation, 
he was too inexperienced or roo busy to 
see that u politician in legal trouble 
manipulated him to put a second-rate 
lawyer into the attorney general's office 
for the politician's personal ends. 

''Woe unto the prime minister who 
sees this paper as an absolution," wrote 
the columnist Nahum Bamea in Yediot 
Ahronot. 

"The Bibi that emerges from this 
story is not a criminal offender he is 
uncomprehending, inexperienced, as 
Rubinstein described it. Basically, a 
charlatan." 

.Another columnist. Yoei Marcus of 
Ha'aretz. wrote: “From this point on. a 
dark cloud looms over Netanyahu. He 


has lost his credibility with a large pan 
of the public and also in the world at 
large, and amid the criticism and in- 
vestigation he will not be able to func- 
tion." 

That was probably too categorical. 
But the number of unanswered ques- 
tions in the report, and the appeals im- 
mediately filed with the Supreme Court, 
promised that the scandal itself would 
not soon go away. 

And the weakening of Mr. Netan- 
yahu's position, boih in his coalition and 
against the opposition, insured that he 
would find his room for political ma- 
neuver curtailed. 

“If there is one achievement which 
burst out of this entire affair, it is in the 
area of Netanyahu's behavior." wrote 
the commentator Shalom Yerushalami 
in the Ma'ariv newspaper Monday. 
“The police, the attorney general and 


the state attorney yesterday struck i a 
sharp blow at the arrogance and pre- 
sumpruousness of the pnme minister 

and his advisers. . . f 

-Whoever saw Bibi in the last few 


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• - e sit 


TT IJV/V » p- — . 

days, and felt the intense pressure that 
he was under, understood that the era of 


200,000 Iranian Soldiers 
Begin Gulf Maneuvers 


J >7 i" l if’ ^ruif t'm iV/vf. fc. s 

TEHRAN — Iran's Revolutionary 
Guards on Tuesday began their largest 
war games ever, involving more than 
200.000 troops and missile firings, of- 
ficials announced. 

“These exercises will restore secu- 
rity in the Persian Gulf and benefit 
friendly countries in the region." said 
General Mohsen Rezai. head of Iran ‘s 
elite military force. 

Called “Tariq jJ Qods." or “Way to 
Jerusalem." the four-day annual ex- 
ercises are aimed ai training the Rev- 
olutionary Guards and Islamic volun- 
teers for "a rapid response to any threat 
against Iran, said General Rezai. He was 
understood to be referring to U.S. forces 
in the Gulf. 

Iran's paramount leader. Ayatollah 
Saved Ali Khamenei, arrived Tuesday 
at the main naval base of Bandar Abbas 
in the southern Gulf to attend part of the 
exercises. 

“Although there is no serious and 
real threat to our borders, we have ro be 
vigilant." Ayatollah Khamenei told 
thousands of people in Bondar Abbas. 

“The moment. God forbid, the 


people and the youth of this country 
become careless, that is the moment of 


become careless, that is the moment of 
. danger.' ' he said in remarks reported by 
srace-nin Tehran radio. 

The troops are to take pan in am- 
phibious military exercises, which have 
been planned since June, said the of- 


ficial press agency. IRNA. The war 
games will stretch the length of the Gulf 
and inland to wesrem Iran, including 
Kermanshah Province bordering Iraq, 
which fought a war against Iran from 
1980 to 1988. 

The ayatollah said that Iran would 
launch a "harsh response" against any- 
one threatening its security. That 
seemed to be a reference co reports that 
the United States might strike at the 
country if a Jink was established be- 
tween Tehran and a bombing last year 
that killed 19 U.S. airmen in Saudi Ar- 
abia. Iran denies involvement. 

Tests of Iran's missile strength are to 
be a focus of the exercises, officials 
said. 

The exercises will include missile, 
air. sea and land operations, said Gen- 
eral Rahim Safuvi. deputy commander 
of the Revolutionary Guards, who was 
quoted by the official news agency. 

General Safavi added that the Foreign 
Ministry had informed neighbors of the 
defensive nature of the exercises. 
"These maneuvers do not represent any 
threat to countries in the region." he 
said. 

Tehran radio reported, meanwhile, 
that people chanting "Death to Amer- 
ica' ' were marching to a desen region to 
mark the failed U.S. military mission in 
April 1980 to free 52 .Americans held 
hostage by Islamic militants at the U.S. 
Embassy in Tehran. ( AFP. Reuters i 


U.S. to Ignore 
Flights Aiding 
Iraqi Pilgrims 


■ 


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BAGHDAD — Iraq has flown heli- 
copters to its border u ith Saudi .Arabia 
to ferry h owe Muslim pilgrims, in vi- 
olation of a southern "no-flight" zone, 
but the United States ruled out Tuesday 
any military retaliation. 

The official Iraqi press agency. IN A. 
said that "a certain number of heli- 
copters" were flown south to the Arar 
border region Monday and Tuesday 
and that they arrived safely. 

More than 1.000 pilgrims passed 
through .Arar. which is just inside 
Saudi territory and 450 kilometers 
(270 miles) from Baghdad, at the be- 
ginning of April for the pilgrimage to 
Islam's holiest sites in Mecca. 

Military officials in Washington 
played down the flight, saying that it 
represented a technical violation but 
did not warrant an armed response. 

“We're not going to take military 
action." said a "Pentagon spokesman. 
Lieutenant Colonel Pat Sevjgny. 

Another Pentagon official said. 
■ * Saddam is always pushing to see how 
far he can go." referring To President 
Saddam Hussein of Iraq, "but we’re 
not going to shoot down a civilian 
aircraft over this." 

President Bill Clinron said Tuesday 
thai the United States would continue 
to enforce the no-flight zone, which 








lattun M.-tummaLThc iVihOJKd fTv»» 


ON THE MEND — Udai Hussein, eldest son of the Iraqi president, 
predicting Tuesday in his hospital bed that he will fully recover from 
an assassination attempt in December and will soon be walking again. 


was set up by Britain. France and the 
United Stares in 1991 to protect Iraqi 
Kurds and Shiite Muslims after a revolt 
failed. 

"We intend to continue to observe 
the non-fly zone and continue to sup- 
port the embargo" on Baghdad. Mr. 
Clinton said “We don't want to see 
religion in effect used and distorted in a 
way that tries to avoid the international 
obligations." 

The helicopter flights were the 
second challenge this month to the 


restrictions on Iraq: no-flight zones in 
the north and south of Iraq and a United 
Nations bun on international flights. 

On April 9. Iraq sent a civilian plane 
to Saudi Arabia to carry 104 elderly 
and sick pilgrims to Mecca. It returned 
to Iraq the same day. 

The Security Council then issued a 
statement calling on Iraq not to fly 
more planes without its consent, but 
stopped short of calling the flight a 
breach of the embargo, as sought by 
Washington. (AFP, AP > 


the single ruler is over. , _ 

For those hoping for a revival of the 
peace effort with the Palestinians as it 
was before Mr. Netanyahu took office, 
however, a weakened prime minister 
does not necessarily offer a better 

chance. , . 

Some Palestinian leaders expressed 
the apprehension that Mr. Netanyahu 
could take an even harder position to 
restore his standing with his constitu- 
ents. , . , 

.And without the threat of a nauonal- 
i unity government to check the tight 
wing, and with members of his coalition 
now more assertive, the prime minister 
was likely to find less political room to 
make concessions to the Palestinians. 

In this, the political scandal demon- 
strated how Israel's new election sys- 
tem, in which the prime minister is 
elected directly by the public, had failed 
in its objectives. 

As the first nationally elected gov- 
ernment leader. Mr. Netanyahu was 
supposed to be immune to the para- 
lyzing bickering among the many small 
parries that has traditionally marked Is- 
raeli politics. 

In fact, he ended up requiring eight 
parries to gain a bare majority in Par- 
liament. with the result that he is per- 
haps even more subject to pressure than 
his predecessors were. A key allegation 
in the affair was that Aryeh Deri, head of 
the religious Shas parry, threatened not 
to support the Hebron agreement in 
Januarv unless Mr. Netanyahu suppor- 
ted his* candidate for attorney general, 
Roni Bar-On. 

In his initial appearance, however. 
Mr. Netanyahu gave no indication that 
he appreciated the implications of the 
scandal. 

In his television appearance, he did 
acknowledge that “mistakes were 
made.' ‘ though he did not say what they 
were. 

But the thrust of his message was the 
familiar assertion that his enemies in the 
press and in politics were the real vil- 
lains behind his troubles. 

And if he has not learned any lessons, 
wrote Ham Shell in Ma'ariv. new (arises 
are inevitable. 

“If Netanyahu draws the right con- 
clusions. that's enough." he wrote. “If 
not. the Bar-On affair will repeat itself 
in some other form and will be re- 
membered as another juncture on the 
road to the final disintegration of Ben- 
jamin Netanyahu." 



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VALENCIA, Tuesday, June 13 —Her job -title read 
'“Administrative Support,” but for Rosa Barea of 
our Travel Service Office in Valencia, S^pain, a more;- ; 
fitting title might have been “Administrative, Medical, 
Emotional and Moral Support.” 

She earned it when she helped a Card member 
return home to Spain from Russia for an operation 1 
(lhal was after arranging for medicine to be flown 
to Moscow) and accompanied the Cardmember s wife 
to the airport for moral support. 

Ask Rosa, and she, like a lot of American Express 
employees, would say, "l _ 

was just doing ray job.'’ » 

That’s something to keep . 


■ 








was just doing ray job.” 
That’s something to keep 
in mind when you're far 
from home and have a 
job for .us to do. 


TCEiaa 03 OG3DS7 ("COS 




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>• _- .- ,- ; :..\ : . i: _. 



INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, APRIL 23, 1997 


BUSINESS MESSAGE CENTER 


READERS ABE ADVISED 

I hat thn International 
Herald Trflwna cannot bo 
held nwponj'bh for lots or 
damages incurred as a 
nsulf of transactions stem- 
ming from adwrft nm i h 
which appear In our 
paper, ft is t h e r ef or e rec- 
ommended that readers 
make wpnpWafa inquir- 
ies before sending any 
money or entering into 
any binding c ommitm ents. 


Import/Export 

BUYN8 OUTLET FOR Ttffi LARGEST 
TRADWG COiffAMES 
Batted i bum goods. Fragrances/ 
cosmetics, whbs. pens. ctrinamra, 
crystal, Handbags, optical trams, sura 
Besses. line cfaara. Gucci, Tag Hauer, 

Witter. Yreoqwoco. srarovoo. rteau. 
Fertaganu, Rada, femes, efc 
Pfaae caKac TRADWG DESK 
Tsfc USA +1-212-307-0973 
Far USA +1-212-807-9058 


MOAHEXWa 

URGE GRADER OF USED aOMNG 




USES- LEY) SOI JEMS - Al colors & 
wsfes. For pnee OS FAX: 901-501-3843 



CASKETS 

American Cartel tor export 
Become a rapieamnw 
Far nfarmaton to In the US 


BUYBffi i SELLING BRANS NAMES 
and kniy produce tor fid wrid mar- 
kata. Guaranteed. Stock lot prices art*. 
-Cash payments. Tel: Paris -+33 
{Q14859E88& Far +33fl3}l 48594360 

DOUWCAN CIGARS. B styles, lend 
rolled, voturoe purchases only. 
Wage U5A+S 54-4743866 

LEW SMS. Used and Quality 

^ fired from the USA. Honest and 
a. FfflC 5D362W746 USA 


Business Opportunities 

OFFSHORE BANKS 
COUPAMES & TRUSTS 
AOfiGfUTKW/PAS^ORTS 

BartroAcmuteng-Secreteriai 


Ad cafe tresed nih utmost confidante. 

POWDBtB) UX. HoSand origin, tow 
pins. vrtnttotKhaw arty. FAX ISA: 
+ 954 474-3686. 

blend tobacco, lowest prices, private 
te^^avetabfe. FAX USA: 1 (954) 

SEEK TO BUY SWISS GOLD, ROUGH 
DfAMOMJS, UGHT CRUDE OIL 
SANCHEZ Fax +33 (0)3 88 GO 53 17 


COMMERCIAL & INVESTMENT PROPERTIES 


Offices for Rent 

OFFICE SPACE • Parte 50-75 sqjn. 
available tor short-ttm lease {max. 20 
■norths) n toe Tour Uortpamssse. Usd 
tor smal bustfm (2-3 peopla). Office 
equtemeffl. fumture, phones and other 
sauces avatatt. let +33{0114279«00 
V Fax (0)1 42 79 99 31 

PARIS OfflCE SUB LEASE 900 sgJL, 
in pesbgrws brttfng located near Place 
Vendore on rue Castigfiau, toeing toe 
Intercontinental Hotel Beauefuly renovat- 
ed, qua! & bright 3 rooms Entrance lial. 
modem bathroom & shower. T4 morths 
at S3JXXMnorfli Fax +33 (0)1420)3041 

OFFICES MCBfTER OF ROK 
fumtatod. short ft bog-term bees, office 
equanenL optional senses. let 39 6 
479681 Fax 39 B 4768824 

ATELIER SPACE long or atm tent - far 
aitsL a nfl tocL phokuapher, (As etc. 
Teh +33 10)1444199% tox (0)144419929 


Rentals 


ltatSsonAw,MyC 75-76 SL 

600 A 1850 sqlt -AraWJs bmndrtaly 
Busrass OppoaaMy. E*a Mucha*. 
SNONRUDO 21 Ml 9-2500 *41 


GREECE, dewtopmert land and hotels 
(or sele. Hefletuc Really. let +33(0)4 
50 42 71 96 Fax pH SO 42 78 24 


HI OPPORTUNITY 
* GALAS seafront 
RESDBJCE HOTEL 110 No - 
. 40000 sqJUZJDO sql. STUDIOS. 
Many features— 20% yidd posstte. 
Bite In 1387: Ongmal vale: £4 Uflat 
£250.0000 ) year rert paste. or 
totol ota of sUfios £2S UOon. 
SeltorEU Mon (dMston pcsste) 
Tat m fm « 19 0481 
Fte «3 mi 46 97 79 94 


NICE. H0UDAY RESORT 

oSated tor sate. Estate taking n toe 
tread of Nice - 100 meters from the 
beadi 21 apamnans on 6 boom, lately 
ranted. TaitgUy egupped wifi new 
fanfare. Dwetopea as lanestaro project 
ready to go, Contact Modegc ApS, 
Tec Drama* +45 333 79 333. 

Fee +45 449 91 666 
or e-iaB HttaggA 


SUITABLE far AmencenfEuropeenttslan 
businessman, to make business in 
Ranee, Europe or toe worid. what loufd 
he better then to set op n a nee 40 
aoe asWe «ifi 10th caiiy casde, 600 
aim. ton apace, 1900 sqm induatnal 
buttngs, tubing pant (or 6.000 sqjn. 
or mo®? Vecart oi sale. Castto may be 
nkl tei Brtqc fcmtore. Located treat 
d Fiance, new highway. 4 hours tote 
from Pans. 2 bouts by TCV Ban. 1 hore 
by plane. Brochure on rapea fte +33 
m 96748190. Trt +33 (0)2 96749154 


Aston Corporate Tnstees 

19 Peal Read. W»> toe rt Man 
Tet +44 AS 1624 626591 
Far +44 (5) 1624 629126 

London 

. Trt +44 {B 171 222 0014 
Far +44 (S| 171 233 1519 

E Haft astontenterpriseriei 


FOR SALE 
US COMPANY 

Wet managed. SHU sates SI EM cadi 
flow In toe tost growing school uniform 
and booksten buses. Anhase pika 
S70M tor et&r pie toe asamSon of 
wotting capital ddx pi .71ft 
Fax ‘mute kr 001-617-6954)0*9. 


DEAL OPPORTWIY to acqure nek*- 
ate Kens to manufacture and market 
unlque'fow capml envionmentd equip- 
mem. Fully developed and proven w*h 
woddmde petert granted tor an eqsnd- 
ng msrttt P. Ufa 44(0)132 429 1190 

LOOKING FOR BRAZIL? Swiss In* 
tons can help you to save moray and 
tone. Short tine maters- Go between. 
No problems wuhoul sdutans. Phffippe 
Suer, tox +41 21 701 3390 Parmer wfiti 
Smfan covutarts 

2nd PASSPORTS Drivmg licences T 
Degrees/Cairoufiage Passoorts/Secrel 
Bank Aacunts. GaL P 0. Box 70302, 
Athens 16616 Greece. Fax 8962152, 
htq}^nw».gio6aFinaneyxait 

HT1 SOCIETY OF RNANCCRS 
NrtMOrimg tor liAtone protesstonaB teh 
projects tor treitong or hating tor 
protects. FREE Airmailed Report 
704-232-5907 Fat 704-251^061 USA 

ELECTRICAL COHTRACTWG Business 
Nonheastem New YoA t undrey opera- 
tion. Ktudes 1500 sq. 6 home, 1.3 
acres tuck, torts, metenefe; nofearse 
reOLied. S199K. Trt 516494-7715 USA 

DISTRIBUTORS IN SE. Asia waited: 
Original *Rayma‘ Therapeutic Bracelets. 
Sdw or gale plaed: attractive and efe- 
we. Made n Span Phase cotect Bo 
Tretong Fax (632) B48-2S33 

COW 1 ANY SPECIALIZED saffing bifi 
guentties of second hand photocopies: 
Toshiba-6estelner-Nashua...Te> 
+33(0)146655580 Fax +33(0)148656628 

New Hampshire 6 reft BEACH OOTbT 
wah omen cottage. Vhcakn ting nth 
■cane 1 S3»LTel USA 310457-9681. 


licral br^Lfe- Sribitnc 

mwwaaOTiegwp 

PLANNING TO RUN A CLASSIFIED AD? 

Place your Ad qufdJy and easily/ oonlact your nearest IHT office or representative with your 
text. You wffl be m formed of the oosT irnmediateiy, ond once payment is made your od wiB 
appear witfiin 48 hours. AB major Credit Cards Accepted. 


BJROPi 

PASH (HQi M - 43 93 85, 

Fac (011*1 43 937ft 
E+nad- OboMdVncBm 
GSMANT. AUSII0A A CBABALEUNOffi; . 
FrenUrel 

Tel 05qW12500. 

Fm 1069/ 97725DOO 
BBGtUttUJXSttOlKG. 

U fDZ] 344-3509. (02) 34401 17. 
foe ICQ) 34*0353 
GREECE & CYRUS: Atoarw 
Tel: 301/68 51 525 
Far 301/6853357 
ITALY: MAno. 

Id 58315738. 

Feoe 563 20938. 

ICIHBSAND6; Aawiwtfam, 

W 3120684108ft 
Fax. 31 206881374 
SWTlZEHAIftPiJy, 

Trt (Q21 728 3021. 
tec ^1)728 to 81. 

UNfTO WNGOOtft London, 

Id 0171836 4802 
H> 262009. Fax 420 0338. 

MPPtE EAST 
UHRAN Manana, 

Trt/Fw 591734 
ISRABlTel 4nw, 

Trt 972-99-586245, 

972-^586246 

Fax 972-99' 585685. 

KUWAIT: CaWKl landac 
Irt 07 1 836 4802 
Fv. 071 2402254 


MtDPLEEAST 
I3ANCH5ffllArtetel “ 

Tel /tec (Ml I] 786564/766576 
OMAN: c/a Botnan 
WVEbc (96) l| 7B6564/786587. 
SAUDI ARABIA: Coreact lendov 

TJj 71 836 4802 
fac71 2402254. 

AFRICA 
EGYP£ Cairo " _ 

TiJ 3499838 
He 21274 WCD UN 
Fax 3444 429 

SOUTH AFRICA 


Trt (27111 8035e92. 
fat (271 1)803.950? 

NORTH AMB8CA 
teWYOHt 

U.- 1212) 7S2KJ890 
TtJ tea 0001572-7212 
Fax (212 75*6765 

CANAPA 
TORONTO: ^ 

TeLirag 83*6200 
tec pee) 833-21 16 

LATIN AMHBCA 

BRAZLSaofaub. 

T«L 8534133. 
tec 852 8465 

LftnN AMHBCA 
iEBOk Menm G*. 

W (52 a 536 56 90 . 
fat 1525) 68281 22/687^42/ 
.5363577. 


LATIN AMERICA 


PBKfcbna 

W:J51 14)417052 
Tlx 20469GYD6A. 
Fat 416 422 


ASIAPAQHC 

HONGKONG: 

Trt (852)2922- 1 1B8 
Rx 61170 MHX. 

Far (8521 2922-1150 

ffdArBontey, 

Trt- 645 0S)4 
Fax. £456172 
Tlx 1 185171/2716 Att 
JAWi Tokyo, 

Trt 3201 02 10 
Tbc 133673 Fax 32010209 
AtAtAVSA: Kuab (unpa. 

Trt: «3) 981 28 14 
tec m 982 77 51 

PHUWfS: Rag Oy. 

Trt- 16321 637-32U 
tec (6^ 6330751 
SNGAFORE,Bn»& Singapan. 
Trt- 223 6478 
Fax 325 0842 
The 28749 MSN 


AUSTRALIA 


MBBOUNE: 

Trt 9650110ft 
Fere. 96506611. 


BUSINESS OPPORTUNITIES 


DEALERS NEEDED ■ BUY DflBCIJ 


1 1 MEXICO RUG FACTORYl 


5.AVEIS ■ SADOtBLAMdS . fflJGS 

!oc% hoc - . • wLwr.'K • bedsfueads 

WORLDWIDE ftffORT-EXPOffT 

HUGE 3OQ0Q sq.ft showroom 

OMYA8N+OU8UX)MS~SAKBI& 


WHOUSJUIWttY! 


A150: Iflamer Good! ■ Foil Art ■ SaMw 
Cowtwv nfia • ffaaa • Mon 
Pottery A Baked ■ KacHna Dob - Sb* 
CtMrtdes ■ Mexico Band) Aiftpree ♦ Mete 

a PASO MMUBUIHT CO. 

601 N. Oregrei ■ B FWO, Ttae»79W1 USA 
PH: 91 5444- ICfiO ■ 27 Wee to ftafaen 



kji it hi ir 


available for WTBWARONAL 
PROJECTS 1NDWVESn®JTBHAV9iG 
SATISFACTORY CRSXT SOFTOTF OR 
GUARANTEES 
Brokers Pr otected 

pgnuuajs CBESfT 

TeftfAIQ 801 -0270 
Fax: (416) 601*2280 
Toronto. Canada 


Don't Miss Our 
Sponsored Section 
on 

ImmKfflOML 

Franchising 

which will appear 
0> april 23, 1997 


TWO BRAND 
NEW FLOATING 
HOTEL BARGES: 

250 double rooms plus 
restaurant, disco, etc. 
Frustrated export order. 

Price each: 


Can arrange tow 
anywhere In tbe world. 

Note no reasonable offers 
will be refused 

tone +44(0) 1444 415 929 


SALES 


ifj iW\ 


SHELVING 
and RACKING 

We are along establidied 
(43 years) shehtng and racking 
manufacturing company, 
and are 

locriang for experienced 
representation 
either by agent or distributor 
Contact Leon Gasner 
Triple-A Manufacturing Co., Ud 
44 Miner Aue., Toronto, Ontario 
CANADA MIS 3P8 
Fax:416-29t-1292 


BARONIAL TITLES 


Soce «*waN»rtifri in 1826 “Burkes 
peerage' has publtsbed and dealt 
w&h die Azistocncr of Gl Britain. 
To acquire an authentic ancient 
Scottish title with confidence 
contact us at 

Sufic 202, AawnyHow+e. 

Recent St, London wik 5AA 
_ Pboocte C44) 1903700476- 


JUST PUBLISHED 

Interna tionnl Herald Tribune's 
International Franchise Guide 
INTERNATIONAL MASTER FRANC HISE 
& AREA DEVELOPMENT OPPORTLNmES 

The deBnMwe guide de'rrted soldy Id inlfmarional franciriaing. 
ry +giU rt- upHo-date profiles on the workT? leading international 
franchisors. 176 pages. LSS34.95 fincludes flipping) 

u IHT Guide. P.O. Bon 12488. Oakland. CA *M6iM. Cash, Morey Older, Visa 
ar M/C G^.Val.iCEwtr- Oae& ApprmaiiCTMinrF). . 


OFFSHORE COHPAfffiS 

READY MADE CO'S, FULL ADUN 
TRADE DOCUMEKTS AND UC 
BAfMNG S ACCOUNTWG 
CWtA BUSWESS SSWCES 

Cortsa SMte Ho far knmedete 
SEUViCBS & C0nte>Y bOdWB 

MACS LTD, Roam 1«B. Atoion Pta 
2-6 Grande Road. T5T. Kowtocn. 
Han Kan. e-nat nacsOrttsteuwi 
Trt B&27241223 Fax Z7224J73 


SMALL SWISS TRADiNS COVANY 
(AO) toutee 1979. preseniy kwOte, s 
toetons tor tHoteese offomrittes, a.g. 
Exoat/Yirorts. Fat (+41-71) 845 2405. 
Trt (+41-71) 845 2404 

SIS 1 0WJB1 OFFBWG his vessels to 
tradSno coropeny wdh 30% betow than 
the rreiott world market price. 
Cali to Hilton. Pans Tel: 
+33(0)147033024 Fax (IQ142E0Z746 

ALGERIA - 8£C0M£ _ PRESENT - 
Experienced engineers wi relocate fa 
> our company • Al aeagnmens. Trt 
+33 (0)1 GO 06 79 64. PTODEX#H0Lk 

OFFSHOffi COMPANIES. For (roe bro- 
choe v advice Tet London 44 181 741 
1224 Fax: 44 181 748 6556ffi33B 
wwwjppteavusrtc 

WANTED - STOCK BROKBWRMS 
Interacted in lucrative ntotbrehip wan 
U.S. kwBEtmem Bart. Leave Message 
1-212-473-&482. 

PORTLAND CEMENT + K LINKER. 
We offer buk-bagged any destratm 
Fax 972 3 9243104 ST 39 2 5*55464 

RARE ROYAL HIGH NOBIJTY TITLE 
Orly seriate enqona ptoan. Firat con- 
tact Fax 001-7035B842Z7. 

fMWJffiLCWZEDElCCOM 
0n4ne inanporation service in ora of 
f» natt' beer tax Ism venues. 


Telecommunications 


GlobeAfef 


GtoceNet, otvasfy owned paitnoshfa 
wtii os of fte US's tagasl cable T.V. 
pravkkB, seeks to opnldi Hi 
Caltert vtootasate progran. Only expef- 
mnead c&ack operators mth vtninwi 
monWy traffic need apply. The is tor toe 
serious ctibadc meeter a master agent 
tooting to Improve their martte portion 
and manffis. To iccete an overarew d 
at pnvam. please corted Karon Yawl 
via lax at 810-525-8610 a E-mail: 
gnelftntafepring. com. 



The Original 8 lagrat Dtianmt 

Tet 1^599.1991 
Fax: 120639.1981 


NETWORKING AND 
C0WHMCAT0NS 

Discount source tor al networking and 
tetecon products - modems, servers, 
rates, Jnftteai PCe. hubs, comedos, 
power protection, efc FMmi 
rofttoemMs to 

HTX Networt Scnton, Inc. 
dh of Haartre ML (kutkd 1979) 
4845 Paritoeaa Cl Oriindo R. 32B06 
Rax 407^6333 Trt 407294.4333 
Bnat ftoffitoBttxan 


Business Services 


ASSET PROTECTION 

Offering a unique range of services to 
overseas mestora r Cena&an private 
coporaliofls. reel estate and portfolio 
investments. Our fhm sracialzes in 
providing «agwf ano iUiwiudaMp 
ovemew lunctkxn tatetd to fte cpecSc 
raammerteoi meroees ownera. 
ftr more rtorrahon, phase coraact 
L Glutted CAAGA (UJL) 

Fax: Canada (418) 9554)783 
E4trt gnmrafclOefBJxa 


BUSINESS 
OPPORTUNITIES 


Oppobtcntties 
For Agents 
in Austria 

A 1/2 Billion US$ global 
networking corporation 
wishes to explore dif- 
ferent representation in 
Austria For sales of PC 



related products and 
services. 

We are seeking an agent 
with a proven track 
record of operating at 
the quality end of the 


computer/networking 

market 

This opportunity has 
the potential to be an 
exclusive and lucrative 
business for the right 
person / organisation. 
For more details 
please contact*- 
Bob Taylor an 
*44 1256 818811 
or email 
admin@csa.co.nh 


or Fax: (a 1(1) 547-3245 

iwi yFebareiHwwJnwiAisemdcoiD 


iferatiusag&ribimc. 


LIECHTENSTEIN & WORLDWIDE * 
OFFSHORE COMPANIES • 

• COUMNY FORMATION - READY M4QE* 
•MVMta&iT AND ACCOUNTANCY * 

• W7ERW7KWMI. MU LEGAL 4AO TO5T * 
SERVICES "SANK INTRODUCTIONS * 

-ASSET PROTECTION -WIDE SUPPORT • 

• TES s nOf£ AND HUL fiWWWDMJ • 

Fro* Bradxn otteabla to Engaan. e 
German and Russian • 

taterenopany * 

a MmagMwal ■ 

PJL Bex 4431 • 

Y?!35V 6304 21X5 ■ Sw5tz»fi«nd # 
p* Fra + +41 -41 -71D508A 

llj •«« fcg fate t to aipnyxh* 

hapdNrate teaca n ya n yj ft* 


buswess 8$W8«- swetote letewcrt, . 

dtedop pubndung. translation: French. . 
Engfcft. Arete: Trt AL +33 ftti S3 70. 
80 35 

Doasr Ctarioon Buthen Develop. - 

U.S. consuham vaUi ericas m LonKxi 
and Nm Yori. esaoten ywr proron 
in Euiope or US. Ablt tc ptov-de ton 
aroport ana marVewg. Consumer and 
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PAGE 8 


WEDNESDAY, APRIL 23, 1997 


lieralb 


INTERNATIONAL 



tribune. 


mausHFD wm» the nfw vorx times and THE washtmjtiin tost 


Arms Sales Galore 


In the name of advancing American 
commercial interests overseas, the 
Clinton administration has all but 
turned its policy on arms sales abroad 
over to the Pentagon and the corpo- 
rations that make the weapons. Their 
lobbying is hard to stop even when it 
unsettles a regional balance of power. 

The latest example is the decision to 
allow American companies to submit 
bids to sell F~ 1 6 fighters to Chile, which 
has no need for advanced warplanes. 
The sale would start a potentially dan- 
gerous and destabilizing arms race 
among Latin American countries that 
can ill afford it. Most Latin American 
governments oppose lifting a ban im- 
posed in 1977 on the sale of advanced 
fighter aircraft to the region. They were 
no march for the lobbying power of 
America’s defense contractors. 

Aims sales have been a large pan of 
the administration's effort to increase 
exports. Aerospace industry executives 
applaud the help they get from Amer- 
ican embassies, cabinet members and 
even the president. For the first time, 
cabinet officials have led American 
delegations at air shows and tout Amer- 
ican weapons around the world. The 
aerospace industry has contributed 
heavily to congressional members who 
have a say on arms sales. Its soft-money 
donations in the 1 996 presidential elec- 
tion were more than four times the 
amount it gave in the 1992 election. 

The push to sell arms overseas took 
off when the Cold War ended and 
Pentagon procurement dropped. Ten 
years ago the Pentagon spent twice as 
much on arms as it does now. The Gulf 


War — an air show for American 
weapons — helped, too. 

The United States is the world's 
premier arms dealer. By some esti- 
mates, 85 percent of the arms it sells to 
developing nations go to nondemocrat- 
ic countries. These sales strengthen re- 
pressive and corrupt militaries and rob 
the poor of money better spent on health 
or education. In places like Turkey and 
Colombia. U.S. weapons have been 
used against civilians and villages. 

Arms soles do generate high-wage 
jobs in America, but not as many as the 
aerospace industry has claimed. Most 
countries buying weapons insist that 
some production occur in their coun- 
try. Lockheed Martin’s F-16, for in- 
stance, has been built not only in 
America but in 12 other countries. 

Washington also spends a good deal 
to support America’s S 15 billion a year 
in arms exports. The government em- 
ploys 6 J>00 people to promote and 
service arras sales. It provides tax 
breaks to arms manufacturers, supplies 
client countries with grants or low- 
inierest loans to buy arms, and some- 
times forgives bad loans. This support 
may run as high as S7.5 billion a year. 

ui die current climate in Washing- 
ton, the concerns of the State Depart- 
ment are given scam consideration, 
and the aerospace industry drives de- 
cisions with dubious arguments about 
foreign military threats to the United 
States — including threats posed by 
aircraft sold by American companies 
in years past. This is no way to manage 
foreign arms sales. 

— THE NEW YORK TIMES. 


EDITORIALS/OPINION 


First a French Gamble, 


P ARIS — There will be two new 
governments in Western Europe by 
June, when the European Council is to 
meet in Amsterdam to revise or con- 
fine the Maastricht reform of European 
Union, and by July, when the NATO 
nations gather In Madrid to settle the 
NATO expansion issue. 

France as well as Britain will have a 
new government. French President 
Jacques Chirac’s decision to dissolve 
Parliament and call national elections 
is directly linked to European reform: 
the adoption of the single currency next 
year. He says he needs a new mandate 
in order to impose the measures that 
will allow France to meet the criteria 
for replacing the franc with the euro. 

He did not need to say. when he 
announced dissolution on Monday, 
that he thinks the electoral chances of 
his center-right coalition better now 
than they will be a year from now, 
when the existing Parliament's term 
would have ended 
The Socialist opposition is still in 
convalescence from its repudiation 
four years ago, and suffers from the 
ongoing revelations of illegality and 
corruption in the entourage and office 
of the late Socialist President Francois 
Mitterrand. 

Mr. Chirac has no reasonable answer 
to the question of why he thinks he will 
accomplish more with a reduced par- 
liamentary majority — the best he can 
reasonably expect from this vote — 
than he could in the past two years, 
controlling SO percent of the seats in 
Parliament. 


By William PfafF 

The real explanation undoubtedly 
lies in Mr. Chirac’s personality itself. 
He is a restless and driven man whose 
response to any problem is action — to 
do something dramatic, even if this is 
unreflective, unthought-out He is a 
campaigner, a fighter, not a ruler or 
governor or thinker. 

But he is caking a very large gamble 
here, because if this vote goes against 
hiscoalition he will spend die rest of his 
presidency — five years — blocked 

A large bloc of those 
polled have not 
committed themselves , 


and marginalized by “cohabitation” 
with a Socialist prime minister and 
leftist parliamentary majority. 

The poll indications at this point are 
not brilliant either for Mr. Chirac's 
departing majority or for the combined 
opposition, although the conventional 
judgment is that Mr. Chirac's support- 
ers will win a reduced majority. 

In the latest polls they axe credited 
with some 40 percent of the committed 
vote, and the Socialists, Communists 
and allied small parties with 37.5 per- 
cent. Ecologists and the National Front 
take the rest. (The latter is unlikely to 
elect more than two or three deputies 
out of the 577 totaL there being no 


Then the Euro Gamble 


proportional representation). A large 
bloc of those polled have not com- 
mitted themselves, and nearly a third of 
those with a choice say they could 
change their minds. 

The vulnerability of Mr. Chirac and 
his prime minister, Alain Juppd, is that 
while, they want a new mandate to cut 
the state deficit, the reason they are 
unpopular today is that they have 
already cut social benefits and raised 
taxes and social charges, rather than 
deliver on Mr. Chirac's extravagant 
campaign promises of prosperity and 
jobs- Many Chirac voters feel betrayed. 
The government’s failure to make a 
real reduction in unemployment is seen 
as having weakened social cohesion 
and the future of the economy. 

The Socialist leader, Lionel Jospin, 
says be refuses to pay “absolute re- 
spect” to the deflationary deficit cri- 
teria that the Maastricht 


set for the single currency. However, 
his party platform fails to provide a 


explanation for where new jobs 
will come from. 

Ail of this has been produced by the 
European Union's decision to create a 
single currency, and by the criteria set 
for qualifying to join that currency . 

Nothing in the nature of things 
would make a currency stable when 
government budgets are at 3 percent 
and unstable when they are at 3.5 per- 
cent, but that is the standard that has 
been set. It actually is the technicians’ 
elaboration of the general and reason- 
able admonition in the treaty that coun- 

pntmino rite nnrenrrv be in sound 


fiscal condition. But by now it seems 

Sel ifelmStMl has said he wfil nm one 

more time for chancellor “ oyd® - to see 

S^uro succeed. He wodd rbenwd 

his career with Germany having been 
unified under his leadership ^ per- 
manently committed to Europe 
through the medium of the single cur- 
rency. It is an imposing ambition. 

But doubt exists inside Germany not 
only as to whether Germany will itself 
meet die criteria but over whether it 
should indeed abandon the Deutsche 
mark for the Euro. 

Is monetary union really the ngnt 
method for solidifying Germany s 
European commitment? 

It is the one that exists, and that 
everyone now has accepted- It was 
adopted rather casually, and in its name 
much harm has been done to employ- 
meat and living standards in France 

and Germany. j 

Whether eventual good will come 
from that harm is uncertain. The logic 
of a single currency and single central 
bank for several major industrial econ- 
omies with different economic struc- 
tures and cycles, and with deeply dif- 
ferent traditions of social policy and 
government social accountability, has 
yet to be conclusively demonstrated. 

Both President Chirac and Chan- 
cellor Kohl are gambling electoraily to 

take a share in a second gamble, that the 

euro will succeed. That gives them two 
chances to lose. 


The Environment: U.S. -Chinese Cooperation Is Under Way 


Netanyahu Hangs On 


To the question of whether Benjamin 
Netanyahu. Israel’s embattled prime 
minister, can retain power, the official 
answer now is “yes.'* A police in- 
vestigation had recommended his in- 
dictment for appointing as attorney gen- 
eral someone who was going to go easy 
on three influential political figures fa- 
cing charges of criminal misconduct 
Bur a divided prosecutors' team de- 
cided that the available evidence was 
insufficient The prime minister admit- 
ted that he had “erred” in making the 
appointment but said that the criminal 
allegations against him were strictly 
political. The prosecutors rendered an 
administrative decision that is subject to 
Supreme Court review, but the legal 
threat against Mr. Netanyahu is thoughi 
to be effectively at an end. 

He nonetheless has been hurt The 
result almost surely will be to embolden 
political adversaries and perhaps incline 
him to rely a bit more on his nationalist 
and ultra-Orthodox constituencies. This 
could affect his conduct of policy to- 
ward the Palestinians. It could also af- 
fect his handling of the inflammatory 
issue of which Israeli rabbis may reg- 
ulate conversions to Judaism. That 
seemingly abstruse issue bears on the 
legitimacy of branches of Judaism other 
than Orthodox and is of intense personal 


concern to many Jews outside Israel. 

Israeli -Palestinian negotiations were 
stumbling, and a further turn to the right, 
by an Israeli government already very 
much of the right, would make them 
that much more problematic. 

The Israeli right and its American 
advocates espouse the notion that only 
a tough and unbending Israeli stance 
can convince the Palestinians that they 
have no choice but to abandon their 
hopes for a West Bank mini-state with 
its capital in Jerusalem. But this is not a 
notion that will appeal to those who 
feel that a good result can come only 
come from compromise. 

The Clinton administration has been 
at pains to say that Israel's internal 
affairs are its own concern. But any 
further turn away from the effort to 
negotiate a peace is bound to feed into 
Israeti-American relations, which are 
based — on the American side — on 
the expectation of hard-won but meas- 
urable progress at the IsraeJi-Palestini- 
an bargaining table. After Mr. Net- 
anyahu's close call, and given the 
speculation that he may turn more to 
the hard line, American officials will 
be watching the next phase with great 
interest It could have a wrenching 
effect on the U.S.-lsraeIi relationship. 

— THE WASHINGTON POST. 


Odd Russian Ways 


Top Russian officials say they 
would like to attract more foreign in- 
vestment. Someone ought to advise 
them that using embassy cars to wage a 
public and rather gangsterish feud on 
the streets of Washington does not 
much advance that cause. 

The action has been taking place on 
New York Avenue, outside the 
Corcoran Gallery. An exhibit of Rus- 
sian state treasures, including some of 
the most exquisite and some of the 
most ostentatious of the czars' jeweliy, 
has just concluded a highly successful 
run there: more than 80,000 people 
came to see the rocks and accompa- 
nying icons, costumes and historical 
material during a 10-week period. 
Now, according to a long-standing 
agreement between a nonprofit foun- 
dation and the Russian government, 
the jewels are supposed to move on for 
exhibit in Housron, San Diego and 
Memphis, with a possible end-of-tour 
engagement in New York City. 

Last week the Russian government 
suddenly had a change of heart; it 
wanted the jewels back, and now. Em- 
bassy drivers wheeled their official 
cars in front of and behind the first 
Houston-bound truckload of exhibits, 
wedging it in. and maintained those 
positions, in shifts, through the week- 
end. One explanation had it that Russia 
needed the jewels back tc celebrate 
Moscow's 850th anniversary this fall. 


Noises also have been made about 
problems in the display cases, lapses in 
security’, mistakes in the catalogue. 
Some Americans wonder whether the 
Russian side, having seen the success 
of the Corcoran show, simply wants a 
fatter share of die take. 

In the meantime, precious items are 
languishing in a truck — climate-con- 
trolled. it’s true, but hardly ideal for 
long-term storage. The Museum of 
Fine .Arts in Houston has advertised a 
May 1 1 opening for this “spectacular, 
blockbuster” exhibition, sent out in- 
vitations, hung banners and prepared 
display cases — to the tune of about 
SI 50,000 thus far. Goodwill, it is safe 
to say. is not being generated. 

U.S. investors are leery of Russia in 
part because that country's proto-cap- 
italists have developed a reputation for 
reneging on agreements in midstream 
and settling disputes without over- 
much regard for the niceties of law or 
negotiation. The two cities with the 
best view of the controversy at hand 
are precisely those that Russian politi- 
cians regularly visit to try to counter 
that stereotype and plead for more in- 
vestment: the political and the oil-and- 
gas capitals of America. Whatever the 
merit or lack of merit of Russia's griev- 
ances here, you would think it would 
see an advantage in settling them in a 
less confrontational way. 

—THE WASHINGTON POST. 


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W ASHINGTON — The 
U.S.-Chinese relation- 
ship includes areas of profound 
differences on human rights, 
trade and nonproliferation. At 
the same time, the U.S. com- 
mitment to -a policy of con- 
structive engagement allows a 
broad dialogue on the issue of 
the environment. 

On Vice President A1 Gore’s 
recent visit to China, which in- 
cluded a delegation of senior 
U.S. officials of which I was a 
part, a central focus of meetings 
with China's leaders concerned 
moving the discussion of the 
environment and development 
from the margins to the main- 
stream of our relationship. 

No two countries are more 
important in addressing global 
environmental challenges than 
China and the United States. 

Prime Minister Li Peng and 
Vice President Gore presided 
over the establishment of a 
China-U.S. Forum on Environ- 
ment and Development The 
forum recognizes both coun- 
tries’ conviction that economic 
prosperity and environmental 
protection go hand in hand. 

It also provides a setting for 
us to wane together on a con- 
stellation of problems and solu- 
tions that confront us in en- 
vironment, energy, science and 
commerce. I believe that it sig- 
nals a historic step forward for 
our relationship with China and 
for the health of the planet. 

Already we have identified 
areas for cooperation including 
initiatives on energy efficiency; 
promoting U.S. technologies 
for pollution prevention and 


By Jack 

control: undertaking joint stud- 
ies on coastal zone manage- 
ment; air quality and ocean 
monitoring; and pursuing com- 
mon policies related to inter- 
national negotiations on sus- 
tainable forest management and 
toxic chemicals. 

Nowhere, however, is the 
ability to cooperate more crit- 
ical than on global climate 
change. Mr. Gore indicated 
clearly to the Chinese leader- 
ship that addressing global cli- 
mate change is a U.S. domestic 
and foreign policy priority. 

China is second only to the 
United States in emissions of 
the greenhouse gases that cause 
global warming. Together our 
two countries account for more 
than 36 percent of such emis- 
sions worldwide. With energy 
demand in China projected to 
triple by 201 0, China is likely to 
surprcs the United States as the 
leaning consumer of energy 
within the next 30 years. 

The burning of fossil fuels 
such as coal and oil is funda- 
mentally altering die planet's 
climate system. Unless coun- 
tries take actions to reduce their 
fossil fuel emissions, commu- 
nities everywhere will feel the 
effects, whether through rising 
sea levels, the greater intensity 
and frequency of floods, storms 
and droughts, or the increased 
spread of infectious diseases. 

In the short term, China and 
the United Stales must cooper- 
ate in forging an international 
agreement, now under negoti- 
ation, for reducing greenhouse 


Gibbons 

gas emissions in the decades to 
come. In the long term, we must 
work together to develop sus- 
tainable strategies that dramat- 
ically improve energy effi- 
ciency ana lead to the increased 
use of cleaner energy sources. 

China recognizes that it has 
important needs and responsi- 
bilities in pursuing sustainable 
development, although the 
Chinese correctly point out that 
they are still a developing coun- 


W ASHINGTON — Costa 
Rica has a history of en- 
vironmental concern and lead- 
ership, yet continues to have its 
share of environmental prob- 
lems, including a high defor- 
estation rate. Since 1994, 
however, under the leadership 
of Jos£ Marfa Figueres, it has 
launched an effort to move to- 
ward sustainable development 
One area of major innovation 
is in energy consumption. Costa 
Rica is trying to phase out fossil 
fuels for power generation by 
2010. It has an abundance of 
ocher means of producing 
power: good hydroelectric sites, 
wind sources and the geotherm- 
al potential that goes with living 
atop a string of volcanoes. 

The country has reduced 
power demand with an aggres- 
sive campaign that depended in 
part on the classic approach of 
raising the price, through a 15 


Fumbles i, Mistakes and Outrages 


EW YORK For col- 
lectors of flips, flops, 
mistakes and outrages in the 
conduct of American foreign 
policy, last week was a treas- 
ure trove, pure heaven. 

Three times the Clinton ad- 
ministration floundered or 
double-talked itself into loss 
of credibility — on the treaty 
on banning chemical wea- 
pons. on the struggle against 
state-sponsored terrorism, and 
on the war on drugs. 

The most immediate issue 
is the treaty prohibiting pro- 
duction, storage and use of 
chemical weapons. 

This should have been a 
breeze. Americans could nor- 
mally be counted on to support 
international outlawing of 
chemical weapons, which the 
United States has already 
forsworn. But a lack of candor 
at home and of political cour- 
age with allies has made it a 
toss-up as to whether the meaty 
will pass when it comes up for 
a Senate vote on Thursday. 

Written into it are loopholes 
that are deal breakers for 
many senators. Article 10 
alone would break it for me. 

That article mandates that 
signatories have the righi to the 
“fullest possible exchange ' ’ of 
materials and information 
about “protections 1 ' against 
chemical weapons. Those ma- 
terials and techniques could 
show terrorist states how to 
produce chemical weapons 
that could evade the defenses 
of their chosen victims. Iran 
just loves Article 10. 

Since the treaiv was first 
proposed in die Reagan ad- 
ministration. four important 
facts have become port of in- 
ternational reality. 

• Some American friends. 


By A.M. Rosenthal 

like Russia and Germany, 
have sold techniques and 
components of weapons of 
mass destruction ro countries 
bitterly hostile to America. 

• Under Presidents George 
Bush and Bill Clinton, the 
United States has not shown 
the willpower to stop or pun- 
ish the “friendly" sellers or 
their customers. 

• China has become a major 
rogue distributor, to major 
rogue nations. 

• America has not been able 
to stop that, either. 

Article 10 would permit 
salesmen of death to peddle 
chemical-weapon materials 
and techniques legally, by la- 
beling them “defensive." 

The answer thar the sec- 
retaries of defense and stare 
gave was that the treaty will 
go into effect whether the 
United States likes it or not, so 
we should sign and keep an 
eye on it from the inside. 

There is a far better way. 
The Senate should adopt a 
proposed amendment making 
actual U.S. participation con- 
ditional on the president ob- 
taining deletion of Article 10 
and some other loopholes. 

The week's outrage on 
state-sponsored terrorism sac- 
rifices the right of Americans 
to get important nonciassified 
information. 

Washington decided to 
withhold a white paper about 
Iranian terrorism that it had 
planned to make public. This 
came after a German court 
found Iran guilty of terrorism 
against Iranian dissidents in 
Germany, and as information 
pops up that Iran was involved 


in the slaughter-bombing of 
an American military install- 
ation in Saudi Arabia. 

The white paper was with- 
held because toe State Depart- 
ment did not want to upset 
European stares that have tried 
to use “engagement” to per- 
suade Iran to behave sweetly, a 
policy that the United States 
says has failed. Hello? State, 
are you all there? 

Drugs: Mexico now is the 
major transporter of mari- 
juana and Colombian cocaine 
into the United States. The hot- 
shot general who headed Mex- 
ico’s anti-drug effort has been 
arrested as the secret agent of 
the drug cartels. The Mexican 
government had allowed this 
traitor to go to Washington for 
embraces and top secret brief- 
ings with his American coun- 
terpart, General Barry McCaf- 
frey, without informing any 
American that their man was 
about to be jailed. 

Bonded to Mexico by NAF- 
TA and the peso bailout, an 
embarrassed White House de- 
cided pot to lift Mexico’s cer- 
tification as a country doing 
its best to fight drugs. 

Mr. Clinton plans to visit 
Mexico next month. Instead of 
preparing Mexico’s public to 
hear some hard truth about 
their country's contribution to 
the drug war, the administra- 
tion has begun almost apolo- 
getically making nicey-ruce to 
Mexico, to put the visit in the 
“right light” for Mr. Clinton. 

Underlying these fumbles, 
mistakes and outrages are not 
simply defects of policy but of 
character the inability to face 
and correct mistakes, and the 
addiction to evasion and deni- 
al. As at home, so abroad. 

The New York Tunes. 



try. And clearly we cannot ex- 
pect China and other develop- 
ing countries to take on the 
same obligations as we do. Nev- 
ertheless, there is no escaping 
die reality that without their ac- 
tive participation, the problem 
cannot be solved 
Much hard work remains in 
gaining such participation, but I 
am hopeful, from shotting 
down polluting factories to in- 
stalling wastewater treatment 
systems, the Chinese are be- 
ginning to acknowledge the im- 


portance of environmental pro- 
tection to sustained economic 
growth and stability. 

A new door has been opened 
for the United States to cooper- 
ate with China toward (he goal 
of environmentally sustainable 
development It is now up to all 
of us to pass through that door. 

The writer, director of the Of- 
fice of Science and Technology 
Policy at the While House, con- 
tributed this comment to the Los 
Angeles Times Syndicate . 


By Thomas E. Love joy 


percent national fuel tax. Some 
of the revenues are being re- 
cycled into reforestation. 

The carbon tax is l intend to a | 
1996 forest law that pioneers 
the concept of “payment” for 
environmental benefits such as 
watershed protection and ab- 
sorption of greenhouse gases. 

Of die water for hydroelec- 
tric generation, 87 percent 
comes from protected forests, 
and would cost $104 million 
with fossil fuel generation. 
Thus the savings of environ- 
mental protection offset costs. 

Costa Rica's latest endeavor 
is to set itself up as a kind of 
world carbon bank, which 
works as follows. 

An entity in another nation, 
say, a private power company 
(or a public agency operating 
power plants) is required by law 
or pressed by international con- 
vention to cut its carbon emis- 
sions or at least keep them from 
increasing. If it is inconvenient 
or costly for the power com- 
pany to do so in its own country, 
it may “purchase” reductions 
in some other country. 

The power company (or pub- 
lic agency) might do this by 
building a nonemitting plant in 
Costa Rica, as the United 
States’ Northeast Utilities has 
done with a 20-megawatt wind 
farm there. Or it might buy foe 
equivalent of a conservation 
easement on a tract of Costa 
Rican forest, so that rather than 
being converted to pastureland 
or some other nonforested state, 
the land is maintained in its 
natural state as a capturer of 
carbon. Or it might simply pay 
for reforestation. 

This system, known as * ‘joint 
implementation," theoretically 


brings about pollution reduc- 
tions at the lowest possible cost 
Once foe law requires countries 
and companies to reduce or lim- 
it emissions, they look around 
for ways to minimize costs, and 
that js where Costa Rica comes 
into foe picture by offering it- 
self as a means of achieving foe 
pollution cuts. 

Recently it has created a fi- 
nancial instrument that allows 
one to invest in pollution re- 
duction through a type of bond 
that will eventually be tradable 
on commodity markets. For 
now, foe state provides funds to 
small landholders for reforest- 
ation or forest protection. 

In the other area of innova- 
tion, Costa Rica’s “alliance 
with nature” has already pro- 
duced nature-oriented tourism 
on the scale of $700 million a 
year and more than 100 private 
conservation areas. 

The most sophisticated as- 
""t, however' is the National 
titute for Biodiversity,, a, hub 
of activity engaged in system- 
atic inveotoiy of the flora and 
fauna in the 24 percent bf the 
nation designated for perma- 
nent protection. This is all fed 
into an enormous and 

used by pharmaceutical fi rms in . 
the search for new medicines. 

The generation of wealth 
from molecules in nature, 
thanks to organized data and the 
ability to return to the same 
individual tree that previously 
yielded a promising compound, 
already makes Costa Rica a 
country of choice at the dawn of 
the age of biotechnology. 

The writer is counselor for . 
biodiversity and environmental ' 
affairs to the secretary of the • 
Smithsonian Institution. He - 
contributed this comment to 
The Washington Post. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO" 


1897: King Assaulted 

ROME — An indescribable 
sensation was caused in Rome 
by an attempt cm the life of the 
King. As His Majesty was on his 
way to foe races, a man made a 
rush at his carriage, sprang upon 
foe step and made a stab at the 
King with a dagger concealed in 
a handkerchief. His Majesty, 
however, saw foe Wow coming 
and had time to turn it by strik- 
ing foe man's wrist with his el- 
tow, and the daggerburied itself 
in the cushion of the carriage. 
The would-be assassin, who 
was arrested by a passer-by, is a 
man of twenty-four years of age 
and a blacksmith by trade. 

1922: ‘fold Light* 

NEW YORK — After eight 
years of experimental work on 
the luminous principle of fire- 
flies, bacteria, Crustacea and 
other organisms. Professor 
Newton Harvey has discovered 


means to produce continuous, 
cold light. The light-producing . 
substance,, called Lurifezjn, is 
dissolved in water and poured 
into a flask. The substance, 
which glows without producing 
heat conies from a small crus- 
tacean about the size of a flea : 
and is imported from Japan. 

1947: Korea Parley 

MOSCOW — Vyacheslav M. 
Molotov, Soviet Foreign Min- 
ister, has agreed to a proposal by . 
Secretary of State George G 
Marshall to reconvene the joint 
American-Soviet commission in ; 
Seoul to prepare foe establish- * 
meat of an independent andsov- 
deign Korea, The commission « 
adjourned on May 8, 1946, when 

foe American and Soviet rep% 
reseniatives foiled to agree on - 
foe w ord * ‘democratic .in se- ‘ 
leaing Korean political' parties; 
and social organizations which 1 
were to assist in die formation of , 
a provisional gov errnritmt. •• . . 




- - - j-, : - • - 'v.- ’• 





INTERNATIONAL HERALD TRIBUNE, WEDNESDAY. APRIL 23. 1997 


PAGE 9 


OPINION /LETTERS 


A Way to Make Politics Mesh With Real Life 


/CAMBRIDGE, Mas- 
V^ sachusens — It is com- 
monplace to hear people 
complain about how the polit- 
ical debate isn’t “real. Isn’t 

about “things that matter/’ 

and involves politicians who 
“posture” without “talking 
to each other." 

Now assume that this cri- 
tique is right. The question is: 
Why? 

Last week, I found a plau- 
sible answer in an article in- 
cluded in a packet of readings 
for a conference here about 
civic engagement. Written by 
Michael Walzer, a philoso- 
pher at the Institute for Ad- 
vanced Study in Princeton, 
New Jersey, it was entitled 
“The Idea of Civil Society” 
and was published in Dissent 
magazine. 

Mr. Walzer argues that if 
you look at standard political 
fu-guments, they tend to be 
inspired by one of four all- 
inclusive and utopian visions 


By E. J. Dionne Jr. 

of the good life. Most of us 
understand each of them, and 
few of us agree with them in 
their entirety. 

Two of these visions come 
from the left The first sees the 
good life as defined by “the 
political community, the 
democratic stale.” We should 
be most engaged in our role as 
citizens who spend as much 
time as possible deliberating 
about the public good. If 
we’re not being public and 
political — if we’re distracted 
by such matters as, say. our 
family or our work — we’re 
missing what matters. 

The second leftist vision is 
the old Marxist idea ifaw work 
matters most and that the im- 
perative is to seize control of 
what we do from the employ- 
ers who boss us around. If the 
democratic utopia empha- 
sizes government, the work- 
er utopia emphasizes the 


struggle in the workplace. 

The right posits two other 
utopias. One sees freedom as 
defined by our roles as con- 
sumers in the marketplace. In 
this view, says Mr. Walzer, 
onr freedom is defined by o in- 
ability to “choose among a 
maximum number of op- 
tions.” The stars of this story 
are the entrepreneurs, "he- 
roes of autonomy, consumers 
of opportunity." 

Therefore, the more activ- 
ities char are devolved from 
government to the realm of 
the market the better. 

Finally, there is national- 
ism, which stands as an al- 
ternative to “market amorality 
and disloyalty.” Nationalism 
asserts that “to live well is to 
participate with other men and 
women in remembering, cul- 
tivating and passing on a na- 
tional heritage.” 

Now if you see how many 


of the usual political argu- 
ments fall into one or another 
of these categories, you can 
see why we complain so 
much, r m probably most par- 
tial to civic utopianism. 

But few of us live most of 
our lives in public — we iit- 

Ihe ‘civil society 9 
acts as a 
corrective to the 
usual ideological 
approaches. 

erally don’t live in "the gov- 
ernment" — and we have 
good reason to return regu- 
larly to the spheres of work, 
culture and family. 

A similar case can be made 
about the definition of us as 
“workers.” If we’re lucky, 
we love our work. But we 
usually rebel against the idea 


LETTERS TO THE EDITOR 


Defending Taiwan 

Regarding “Taiwanese 
Mischief’ (Editorial, April 
151: 

The editorial shows a dis- 
tinct lack of understanding of 
the important nuances regard- 
ing Taiwan and U.S. policy 
toward Taiwan. It totally foils 
to distinguish between the 
Chinese mainlanders, such as 
John Huang, and the 
Taiwanese — andTaiwanese- 
Americans — who are work- 
ing hard for a free, democratic 
and independent Taiwan. 

The attempts by Mr. 
Huang, Johnny Chung and 
Charlie Trie to buy influence 
in the United Stares are in- 
deed an outrage. However, 
these men are Chinese- Amer- 
ican and have nothing to do 
with the Taiwanese-Ameri- 
can community. 

Taiwan is populated by 21 
million people, some 85 per- 
cent of whom consider them- 
selves native Taiwanese. The 
other 15 percent are Chinese 
mainland followers of Chiang 
Kai-shek, who occupied 
Taiwan after 1945, repressed 
the Taiwanese with 40 years 
of martial law and made us 
unwilling pawns in the bigger 
chess game between the two 
Chinese adversaries. We 
Taiwanese had nothing to do 
with that civil war, and we . 
don’t want bur future to be 
held hostage to iL 

As for as President Lee 
Teng-hui’s trip to the United 


States is concerned: If a mere 
visit to his alma mater can 
lead to a “crisis in relations 
between the United States 
and China, " then I wonder if 
the United States really has 
the courage to stand up for the 
principles embodied in the 
UN Charter. TTieseprincipLes 
give the people of Taiwan the 
right to self-determination 
ami die right to determine 
their own future, without any 
interference by other coun- 
tries, such as China. 

The people of Taiwan 
simply ask China to respect 
the right of the Taiwanese to 
choose life, liberty, and the 
pursuit of happiness as a free 
and independent country, one 
that lives in peaceful coex- 
istence next to its big neigh- 
bor. Is that provocative? Is 
that too much to ask ? 

MEI-CHIN CHEN. 

Chevy Chase, Maryland. 

The editorial makes Taiwan 
the scapegoat not only for the 
current fund-raising problems 
of the Clinton admnustration. 
but also far the security chal- 
lenges die United States en- 
counters in the Pacific. 

On “Donorgare”: It is be- 
coming more and more ob- 
vious every day now that 
Beijing’s cronies play the 
leading part in the drama. On 
security in, the region; The 
statement that Washington 
recognizes Beijing as the gov- 
ernment of China including 
Taiwan is a fundamental mis- 


representation of the facts. 

At the height of the Cold 
War, President Richard Nix- 
on went to China to seek an 
ally able to counter die Soviet 
threat. He concluded die 
Shanghai Communique and 
thus laid the basis for a "one- 
China policy." In it. the 
United States acknowledged 
the Chinese position that 
Taiwan is part cif China. It can 
therefore be argued that the 
United States does not have 
its own one-China policy but 
merely takes note of China's 
one-China policy. 

The policy was unrealistic 
in 1972 and is even more so 
today. Since the Communists 
came to power in 1949. 
Beijing has not for a single 
day exercised control over 
Taiwan. With the democratic 
development that is curremly 
taking place on the island 
(Taiwan's so-called “politi- 
cal miracle”), the time has 
come for the international 
community to recognize 
Taiwan as an independent 
country. 

ECHO UN. 

Washington. 

I am disturbed — perhaps 
outraged is the better word — 
by the editorial- Despite the 
birth right of Taiwanese 
people to determine their fu- 
ture, the article in effect says 
Taiwan should not abuse 
Washington’s support by pur- 
suing its independence. 

One and half months ago 



was the 50th anniversary of the 
1947 massacre of thousands of 
Taiwanese by Chinese Nation- 
alists. The U.S.-Brrtish de- 
ed si cm3 to return the Japanese 
colony of Taiwan to the 
Chinese, without consulting 
die Taiwanese, was one of the 
major reasons for the killing. 

Now the refusal to allow 
the people's right to self-de- 
termination is happening 
again, in Hong Kong. 

CHAU-Y1 UN. 

Taipei. 

1 am not Taiwanese or 
Taiwanese-American, but I 
am totally dismayed by the 
editorial. It seems to blame 
Taiwan for all that is related 
to fund-raising scandals, last 
year's crisis in the Taiwan 
Strait Newt Gingrich’s re- 
marks to the Beijing leader- 
ship that the United States 
will defend Taiwan, die re- 
newal of most-favored-nation 
status for China, the Hong 
Kong transition — in short, 
for the uncomfortable status 
of current S in o- American 
relations. 

If there is any country in 
the world that deserves re- 
spect and friendship from the 
rest of the international com- 
munity it is Taiwan. It has 
made tremendous progress 
over the past several years, 
developing from an authori- 
tarian stale under martial 
law with severe human rights 
problems into an almost 
completely independent de- 
mocracy. 

So why is this political mir- 
acle not recognized by the in- 
ternational community in 

t eneral and by the United 
tates in particular? Aren't 
we talking about American 
values here? 

The ball is in the court of 
the international community 
now. The United States, to 
begin with, should upgrade its 
relationship with Taiwan, 
help Taiwan join internation- 
al organizations such as the 
World Trade Organization 
and the United Nations and 
help the people of Taiwan 
determine their own future. 

The people of Taiwan have 
worked hard and sacrificed a 
lot to transform their island 
into what it is today. It is now 
time for the rest of the world 
to do something in return. 

COEN BLAAUW. 
Washington. 


-1 


CROSSWORD 


ACROSS 

t Jim at the bar 
s Long Island 
town 

ID “Want to hear a 
secret?" 

14 It's tender in 
Turin 

is Actress Gia 


is Bar assoc. 

member 
17 Likes 
gamofogisf’s 
drinks? 

i» Kisser 
20 Migrants 
advocate 
Chavez 


'USam^'d 

Est. 1 PI 1, Paris 

“ Sank Roo Doe Noo’ 


A Space for Thought. 


w Sans mixers 
22 Latest thing 
aa Carafe quantity 
as Ffctfonafftotef 
hellion 

*7 First-rate 

30 Static 

31 Film director 
Wertmuiter 

32 Adventure hero 
WrfKame 

35 Grateful? 
saTailward, on jets 
39 Sangria 
container 

41 Gentle 
handling. 
intbsHy 

42 didt (legal 

refusal) 

44 Ike’s onetime 
singing partner 

esLuau 
entertainment 
46 Skip over 

45 Worker with a 
scythe 

so "The Song of 
the Earth' 
composer 
12 Highly - 
hackneyed 
34 Baseball's 
Jesus 

55 Actor Guinness 
ST Gin Bavorers 
■1 Asset 

crLfteapfatform - 
(fiver's drinks? 

*4 Mislay 
ss Fur source 
ee Sparkling wtna 
spot 

bt BBa-malds? 
Mintte 

poorhouse 
as Two semesters 

DOWN 

1 Voting group 

2 Deutsche article 

3 Song and 

dance. e.g. 


4 Gospel's 
Jackson 

s ML Carmel site: 
Abbr. 

• Treat with tea 
7 One who spikes 
the punch 
e Chase of 'Now. 

Voyager’ 
e Drawing that’s 
easy an the 
eyes 

10 Bar regulars. 
e.g. 

11 Uke an 
astronaut's 
drinks? 

12 Deer sirs 

13 Melville 
adventure 

IB Lexicographer 
Partridge 
*4 TVs Hatcher 
ae Detector target 
27 Scotch tarnKy 
2s LP player 
20 Uke a roofer's 
drinks? 
m Lawyer Roy 

33 Diminutive 
suffix 

34 Sprint rival 
38 WOrd fora 

madame 
37 Lasting 
impression 
se Bane room 
bend 

40 Bring home . 

43 Mistreats 
48 Vestibule 

47 Tap 
40 Part of • 

SEA TO 

» Fudge flavor 
si Let have 
■2 Davis of ‘Now. 
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C’Netc York Times/ Edited by fffU Shorts. 


Solution to Pnzzle of April 22 


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of our work defining us. And 
a Marxist account of human 
beings as producers doesn't 
work so well in a society 
where so many are in service 
occupations. 

The flaws of what Mr. 
Walzer calls "market imper- 
ialism" are obvious. The mar- 
ket is immensely productive, 
but it provides little -support 
for community — that ‘s not its 
job. It also leaves people be- 
hind. and pretends a price can 
be put on everything, i Think 
of whether you'd put a market 
“value" on your kids.) 

And, much as we all may 
love our own country, nation- 
alism is flawed because it 
doesn’t tell us a thing about 
how we should organize that 
country, how we should treat 
those who aren't part of it and 
what rights its citizens should 
have. 

This is where “civil so- 
ciety" comes in. The civil 
society view has honorable 
roots in the struggles for free- 
dom against communism in 
Eastern Europe. Dissidents 
argued that governments may 
oppress citizens, but people 
still had the ability to form 
independent associations — 
churches, unions, sports 
clubs, neighborhood groups 
— that express their yearn- 
ings both for individual ex- 
pression and for doing things 
together. 

The power of this idea, 
says Mr. Walzer, is as "a cor- 
rective to the four ideological 
accounts of the good life." 
We don't live entirely in the 
political sphere. We don’t 
live entirely through our 
work. We don’t live entirely 
through the market. And we 
don ‘t live entirely through the 
nation. We are individuals 
who value our freedom but 
also value our communities. 

You can see the value of 
Mr. Walzer's argument as a 
critique of our American pol- 
itics. We rebel against Demo- 
crats when we think they are 
saying that salvation ' lies 
through government. We 
rebel against Republicans 
when we think they are saying 
that salvation lies through the 
market- We are looking for a 
balance, a synthesis, that we 
know we have not found. 
Washington Post Writers Croup. 


Euthanasia’s Two Prongs: 
Mercy and Autonomy 


Bv Ellen Goodman 


H AARLEM. Netherlands — Annalies 
van hei Nederend still finds it hard. 
There are signs of mourning in the lines 
around her eyes, in the tension of her mouth 
when she talks warmly about “my mother, 
my best friend, my tennis partner." 

The auburn-haired woman, who Lives 
with her husband along a canal not far from 
Amsterdam, half expects to see her come 
through rhe door, bustling, carrying pack- 
ages and good cheer. Yet it's been months 

MEANWHILE 

since her 75-year-old mother died of cancer 
and euthanasia. 

Elizabeth Myer. nicknamed Dop. had 
nursed her husband through Alzheimer's 
and had seen her son die of a brain tumor. 
When she was stricken with cancer of the 
esophagus, Dop was fiercely determined 
"not to die like a plant ” 

So when treatment failed to arrest her 
cancer and it began to spread to the brain, 
this woman began a series of long talks that 
now occur openly in Holland, where doc- 
tors are allowed* to discuss and even to 
fulfill a patient's death wish. 

Anna, as she is called, still remembers 
those conversations among doctors, daugh- 
ter and mother. She remembers the final chill 
of knowing on a Friday that her mother 
would die on Monday. She remembers hold- 
ing her mother after the doctor’s lethal in- 
jection and hearing her say first, "take care 
of each other," and then, “dying is not so 
terrible." 

On this April evening, she struggles to 
explain to a visiting American the roots of 
her mother's decision. “She was indepen- 
denL you see. She didn't want to be de- 
pendenL" 

This is a sentiment that has become fa- 
miliar to me as I crisscross the country at the 
forefront of a debate about dying. 

Here. 2.4 percent of deaths occur with a 
doctor's assistance. These are mostly ter- 
minally ill patients who cut short their lives 
— and suffering — by days or weeks. But 
they are repeatedly portrayed with under- 
standing and respect as a cohort of the 
strong ... the independent. 

East of here. Eugene Sutorius. the en- 
ergetic lawyer who tried neariy all the cases 
dial led to the acceptance of doctor-assisted 
death, said it another way. ‘ ‘Euthanasia rests 
on two prongs. One is mercy. The other is 
autonomy.” 

On television recently, a prominent Dutch 
businessman known as “Mr. Fokker," after 
the airplane business he managed, echoed 


this sentiment in a posthumous broadcast. 
This master of industry, ill with cancer, 
announced his plan to "die like a gen- 
tleman, ’ ’ master of his out? fate. 

Elsewhere. Dutch doctors described 
those who ask for euthanasia as verbal, 
outspoken people who put a strong value on 
their dignity and control. And the minister 
of health. Else Borst-Eilers, said drat she 
wouldn't want to live if she no longer 
recognized her grandchildren. 

Independence has become a trademark 
value of postwar culture in many countries. 
But in Holland, it interacts with decisions 
about the end of life in ways that leave many 
wary. 

"We have rapidly moved to an individu- 
alistic culture," warns Henk Ten Have, an 
ethicist and opponent of euthanasia at the 
Catholic University in Nijmegen. "What 
does it do to a society if this becomes the 
rational and ideal way to die? If one behavior 
is rational, another becomes irrational." 

Similar arguments are reflected in the 
American debate as well. 

In the case now before the U.S. Supreme 
Court, six philosophers filed a brief favoring 
assisted suicide on the grounds of autonomy. 
But others like Harvard's Michael Sandel 
wonder whether "changes in law can bring 
changes in the way we understand 
ourselves." Is there a subtle social pressure 
to end life rather than become a burden? 

This debate about the value of autonomy 
has echoes even in Holland, a country with 
universal health care. And ir has echoes as 
well in this Haarlem family. 

Sitting at the dining room table, Anna's 
husband voices the discomfort he still feels 
with his mother-in-law’s decision. He ear- 
nestly describes his attempts to get the 
ailing woman to come into their home. "I 
can’t understand that she was afraid to give 
us trouble." he says, shaking his head. 

Anna, however, does understand. Dop 
had told her daughter “I don’t want to end 
life a fool, an idiot. I am a thinking person 
and I want to stay that way." 

In the end. moral questions surrounding 
life and death are no easier to son out under 
the liberal Dutch laws. The changing 
mores may just present more and more 
complex choices. 

But this daughter believes that the way 
her mother died "was goodrif you can think 
of good in those circumstances." 

"For her to have become dependent ... 
well, it was just not her." 

Then Anna adds: "I am the same way. I 
would do the same thing." 

The Boston Globe. 


BOOKS 


THE GOSPEL 
ACCORDING 
TO THE SON 

By Norman Mailer. 242 pages. 
$22.00. Random House. 

Reviewed by 
Michiko Kakutani 

P ERHAPS it was inevit- 
able that in this memoir- 
mad age, Norman Mailer, 
never a writer exactly known 
for his lack of hubris, would 
pen a novel in the form of an 
autobiography of Jesus. 

In an interview sent out by 
Random House with "The 
Gospel According to the 
Son.” Mailer observed that he 
felt up to the dare of chan- 
neling Jesos because his own 
literary celebrity had endowed 
him with "a slight under- 
standing of what it's Uke to be 
half a man and half something 
else, something larger." 

"Obviously, a celebrity is 
a long, long. long, long way 
from the celestial," be said, 
"bui nonetheless it does 
mean that you have two per- 
sonalities you Uve with all the 
time. One is your simple self, 
so to speak, which is to some 
degree still like other people, 
and then there's the opposite 
the media ernitv. which 


welL So the parallel was 
stronger than I realized." 

Tbe resulting book is a sort 
of novelized “Jesus Christ 
Superstar" starring Jesus as 
an ambivalent pop star and 
guru: a silly, self-important 
and at times inadvertently 
comical book that reads like a 
combination of "Godspell,” 
Nikos Kazantzakis’ “Last 
Temptation of Christ" and 
one of those new, dumbed- 
down Bible translations, all 
seasoned with Mailer’s own 
eccentric views on God and 
faith and the conservation of 
spiritual energy. 

The narrator of “The Gos- 
pel According to the Son" 
isn't the purposeful Son of 
God we met in Mark's Gospel 
or the forgiving Jesus de- 
scribed by Luke. This isn't 
the garrulous teacher intro- 
duced by Matthew, or the Je- 
sus who openly proclaimed 
his Messiahship in John. 
Mailer’s Jesus is an altogeth- 
er more ordinary fellow: 
petulant, irritable and ravaged 
by "thoughts of lust," a car- 
penter who just happened to 
discover at the age of 30 that 
he had another calling. 

For that matter, everything 
in this volume is a pale, user- 
friendly version of what it is 
in the Bible. Miracles aren’t 
so miraculous here: In the 


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12 EVENING CLASS, by 

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bv Kaiharine Graham 5 IB 

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5 CONVERSATIONS 

WITH GOD. by Neale 
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6 NAKED. by David 

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7 THE MILLIONAIRE 

NEXT DOOR, by Thomas 
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8 THE KISS, by Kathryn 

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Bale Cox I 

10 MIDNIGHT IN THE 
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12 DR. SUSAN LOVE S 

HORMONE BOOK, by 
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loaves and fishes scene, we re 
told that Jesus ' divided them 
exceedingly small, until there 
were a hundred pieces of 
bread from each loaf” and 
hundreds of flakes of fish, “a 
triumph of the Spirit rather 
than an enlargement of mat- 
ter." Even Judas is given 
plausible, human motives for 
his betrayal: As Mailer’s Je- 
sus tells it, Judas was angry at 
him for appearing to scorn the 
poor and for failing to lead a 
revolt against the Romans. 

Throughout "The Gospel 
According to the Son," Jesus 
suffers terrible doubts about 
his role as redeemer and wor- 
ries about the dissipation of his 
miracle-working powers as 
though he were an athlete {ty- 
ing to conserve his energies 
before an important game. 
After restoring the daughter of 
Jairus to life, he wonders: 
" Had I drawn too deeply upon 
the powers of the Lord? Would 
it have been wiser to save H is 
efforts for other matters'?'’ 

T HIS Jesus is patronizing 
about his disciples, sar- 
castic about his human flock 
and quick to anger. "So many 
miracles." he complains, "so 
little gain." For some reason, 
he is also extremely sensitive 
to smells, be it the odor of 
greed radiated by the Devil, 
the scent of exhaustion that 
clings to John the Baptist or 
Jesus* own sometimes sour 
breath. 

Though Mailer apparently 
wants to tr>' to flesh out Jesus 
as a character by exploring his 
inner conflicts and oh-so-hu- 
man problems, these efforts 
to make him relevant — com- 
bined with the book's 
flattened-ouu New Agey lan- 
guage — have a way of mak- 
ing him seem less Uke the 
historical personage we have 
come to know as Jesus than 
just another chatty cult lead- 
er. 

Sometimes Mailer's Jesus 
sounds an awful lot like a 


guest on Oprah. And some- 
times he sounds like Luke 
Skywalker. the apprentice Jedi 
dying to master the Force. 

Mailer's Jesus suffers from 
repressed memory syndrome. 
(Although Joseph supposedly 
told him about his miraculous 
birth when he was 1 2. he does 
not recall the discussion until 
he is 30.) He complains that 
his mother doesn't understand 
him. And he feels conflicted 
about his identity 1 . ( * “I felt as if 
I were a man enclosing an- 
other man within." ) 

To complicate matters fur- 
ther, the first-person narrative 
takes the sorts of sentiments 
that followers might think or 
say about Jesus and puts them ' 
in his own mouth. Often he- 
sounds downright boastful. 

"I could see how I wanted 
to be all things to all men," he ■ 
says. "Each could lake from 
me a separate wisdom. In- 
deed, I thought: Many roads 
lead ro tbe Lord.” 

As for Jesus' Father, He 
comes across as a weary, 
withholding Dad- Having 
died and been resurrected. Je- 
sus says he remains "on the 
right hand of God. * ’ * ‘My Fa- 
ther, however, does not often 
speak to me,” he adds. 
“Nonetheless. I honor Him. 
Surely He sends forth as much 
love as He can offer, but His 
love is not without limit." 

In recent years. Mailer has 
tried to dress his all-too-hu- 
man subjects. Lee Harvey Os- 
wald and Pablo Picasso, in the 
garments of heroism. This 
time he has tried to do the 
reverse, with equally distress- 
ing results. In trying to de- 
scribe Jesus and God as ac- 
cessible novelisric characters. 
Mailer has turned them into 
familiar contemporary types: 
He has knocked them off their 
celestial thrones and turned 
them into what he knows best, 
celebrities. 


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


Living in the L.S.? 

Now printed in New York 
for same day 
delivery in key cities. 

To subscribe, call 

1-800-882 2884 

(in New York, call 212-752-3890) 

IlcratbSSribunc 

■TUB? -n» M II. ™ *■» *»» . — T 

THE WORLD'S DAILY N DCS RIPER 









jiFu l ipjptfj 


international herald tribune, 

WEDNESDAY, APRIL 23, 1997 
PACE 10 


STAGE/ENTER TAINMENT 


The Man in the Clock Tower Blends Europe and the Orient 


By Joan Dupont 

fnremanonal Herald Tribune 


I STANBUL — Turkish film, sus- 
pended between East and West, has 
few opportunities to make a splash 
on the international scene. In 1982. 
Yilmaz Guney's “Yol." a film written 
in prison that decried the regime, won 
the Palme d'Or at Cannes. Omer Kavur, 
one of the rare Turkish directors to be 
invited since Guney's days, will be at 
the Cannes festival, out of competition, 
with “Journey on the Hour Hand.” 
which just won the top awards for best 
film and best director at the interna- 
tional Istanbul festival. 

Kavur, who was bom in 1944 in 
Ankara and got his training in Paris, 
makes very different movies from 
Guney's political protest films and is 
out of step with Turkish film today. 
“Journey on the Hour Hand" — not a 
very catchy title, he admits — is a 
meditation on Oriental themes, laced 
with riddles. labyrinths and mysticism. 

“Guney was very good ai telling a 
political story," says Kavur. "He was 
talented. Over the past couple of years, 
our cinema is beginning to be more 
political. It must happen, but 1 know I'm 
not the person to do it; I can’t do it." 

Turkey is feeling the tug from rising 
Islamic fundamentalism and the power- 
ful pull of the United States — not the 
America of the Istanbul-bom Elia 
Kazan, but the land of quick riches and 
glory. Gifted srudents get scholarships 
to Swarthmore and drop out or transfer 
to NYU, where there are "more op- 
portunities." “Young directors want to 
be recognized instantly," Kavur said. 


“They want to have box-office hits, ; £ 

but there are others who want to tell *'/■ 
their story through cinema; this is the . '- yf 
difference today, not politics. * ' J 

The director, who has made a . 
dozen films, operates a small pro- * 
duction company in the center of Js|j 
Istanbul’s Taksi quarter. He speaks 
and smokes quietly, unhurried, keep- 
ing pace with his own thoughts. M 
“Journey on the Hour Hand,*' he |fe? 
says, was set in a beautiful region 
between Ankara and Istanbul, a coun- tm 
try of lakes and woods. 

“I was inspired by a very peculiar 
clock tower I had sported while on j&P* 
location for another film. It sat alone 
on top of a rock, like a pagoda, and I JSyj~ 
thought. ‘It must have a story.' I 
imagined a woman inside that tower, *lf|p 
and thought what if a clock maker » 
came to repair it?” *£? r •; 



calling, so I went to France to study 
sociology and journalism, but Ihad 
movies on my mind,'' He arrived 


I N the movie, mystified by the 
woman's tragic past the clock 4 
maker is caught in her web and ; ; 
becomes part of the plot. “Yes. • 
she is Penelope, weaving, waiting for • * 
her husband’s return. In another tune, s . : - v 
perhaps, they were lovers; be left her 
to become a vagabond. He returns, 
the way Ulysses does, probably in his The Turkish director Omer Kavur. filming " Journey on the H our Hand. 


subconscious." 

Although Kavur has played on no- 
tions of time before and based his earlier 
“The Secret Face" on “clocks, time, 
and human faces. ’ ’ he feels this film is a 
new concept. "I wasn’t trying to apply 
normal logic. This story has been told a 
thousand times — the seeker becomes 
the hunted — but I wanted to tell the 
story a different way. with an Oriental 


concept of time and mysticism; this was 
the challenge." 

The director devised a script nour- 


ished by his readings, from Oriental 
tales to Virginia Woolf and. especially. 


tales to Virginia Woolf and. especially, 
modern Latin American novels, 
“Borges and Fuentes treat this concept 
of time with great talent. Our traditional 
story telling resembles Latin American 


literature; it has metaphysical, mystical 
and surrealistic elements that throw a 
veil over the story — the truth is hidden 
behind," 

Raised in Istanbul, the only child of a 
civil servant. Kavur says he never could 
have been a writer. “Even as a child, I 
wanted to be a filmmaker. In Turkey, 
however, cinema wasn't a very noble 


during the 196S student movement 
and returned home in 1971. "My 

main education in Paris was the Cine- 
matheque, I was crazy to see films; 
there’s no other way to discover Pabst 
and Lang. If you don't know them, 
how can you connect with the rest? If 
you don’t know Hitchcock, la Nou- 
velle Vague or Italian neorealism, 
how can you evaluate modem 
cinema? When I saw Antonioni, I saw 
a different cinema and he influenced 
vi me more than any French director.” 
Although Kavur doesn’t complain 
about feeling isolated, be is clearly in 
that lofty clock tower, apart foam new 
Turkish films such as "Somersault 
on a Coffin, " another prize-winning 
film here, about a homeless man on 
the banks of the Bosporus, “an orig- 
inal film,” and local products, in- 
fluenced by Hollywood. 

# “American culture monopolizes 
practically everything in our life, and 
young people tend to identify with it. 
They’re alienated from their own cul- 
$$ rare; they don’t even want to know it, 

^ which is a kind of assassination,’’ be 

id." says. “If a young director wants to be 

Spielberg and is conscious of this 
ystical wish, not just conditioned, let him be 
irow a Spielberg. It's all right with me; it's a 
hidden basic human right to choose. In Tuxkey, 
we don't have tbe freedom of choice. 
Lid of a There's nothing wrong with capitalism, 
r could but you have to have an alternative. The 
:hild, I alternative proposed here is Islam. In 
urkey , my opinion, Islam in its regressive form, 
noble is a danger. So it's a bad choice. ' ’ 


H IS own film, budgeted at well 
under SI million, is subsi- 
dized by the Strasbourg- 
based Euroimages. “Because 
of their support, I was able to make this 
movie," he says. 

“I myself am part European, and we 
feel half European because so many 
families came from the West my 
famil y came from Greece. 

“For six centuries we have had close 
political and cultural ties with Europe, 
but we are partly Oriental as well. Part 
of my family was very religious and 
gave me a religious education. 

“I’m a Muslim, but they were veiy 
open, so it’s never been a problem. You 
can’t deny what you are, so we’re 
European, bur we try to protect our own 
identity." . ' . . 

As a Turkish filmmaker, he feels it 
important to be selected by the Cannes 
festival. “Cannes is Cannes," he says 
with a melancholy smile. “It’s a jungle, 
but it's also a chance to be recognized, a 
chance to get distributed; so few Turk- 
ish film s are seen abroad.” 


LONDON THEATER 


Hello , ‘Goodbye’: Now, the British Version 


Chamber Music Galore 


By Sheridan MorJey 

International Herald Tnbune 


L ondon— S ayheiio 
to “The Goodbye 
Girl" laitheAlbery), 
but judging from 
most other reviews you may 
have to be quick about it. 

This week, as it happens. 


four new musicals open on 
Broadway in the nick of time 
to quality for the Tony 
Awards; by the law of av- 
erages, some of these are 
bound to go down in flames 
and. in the case of "Titanic," 
possibly in bubbles. Yet tbe 
air around Times Square is 
positively promise-crammed 



BROADWAY 


BBOUmv 

9 MM 



DHICACC 


THE MUIICAL 


im tm JiHES JOEL 

FEIMIIXC KEOWWB mUSHTON CRET 


SHDIE'HI THUTHE 224 WEST 44TK ST 


L. Kmlsicr.s uml HiiiiiiiL'iMvins 

% THE KING 




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j* I ® v " V'/l 

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TiV phantom 
of The OPERA 


& Majestic 
Theatre 


*9 


JULIE ANDREWS 





MARQUIS THEATRE, 

ErojcLwa, & '16th Struct. NYC 


For ticket prices & availability call The Broadway Line in N.Y.C. 
212-563-2929. LIVE BROADWAY is 3 registered 
trademark of The League of American Theatres and Producers. Inc. 


at the drought of native ter- 
ritory being reclaimed after 
more than a decade of the 
British invasion. 

Now compare and contrast, 
as they say on exam papers, the 
situation around the West End, 
where at least as many major 
new musicals will have opened 
by the beginning of June. There 
are few entertainments the Brit- 
ish public enjoys more than a 
musical and none that are so 
generally loathed by my critical 
colleagues. Give them a mind- 
less. feel-good romp tike * ‘The 
Goodbye Girl" and they be- 
have as if they have been forced 
to sit through a dogfight. 

Nobody is suggesting that 
“The Goodbye Girl” is the 
greatest escapist musical in 
town, since that is clearly 
Woody Allen’s "Everyone 
Says I Love You.’ ’ even if it is 
on film, but what we have at 


New York single mother for 
whom “Goodbye" has be- 
come a way of life after sev- 
eral unsatisfactory affairs. 

Four years ago. "The 
Goodbye Girl" became a 
gross and glitzy Broadway 
musical with a raucous Ber- 
nadette Peters and a some- 
what bland Martin Short try- 
ing unsuccessfully to retrieve 
a little domestic tragicomedy 
from within a vast edifice of 
irrelevant production num- 
bers and chorus dancing. Its 


Whelan's “The Herbal 
Bed" is a gripping 
Shakespearean thriller of 


original lyrics (by David Zip- 
pel) were indeed too brassuy 


the Albery is a quite remark- 
able retrieval job by the di- 


rector Rob Benin son and the 
lyricist Don Black. Twenty 
years ago, "The Goodbye 
Girl" was the Neil Simon 
movie for which Richard 
Dreyfuss won his Oscar as the 
unfortunate off-Broadway 
actor forced into an all-gay 
“Richard in." while Marsha 
Mason played the largely 
autobiographical role of the 


pel) were indeed too brassuy 
acerbic for their own good, 
but Black and Bettinson have 
now changed all that, so “The 
Goodbye Girl” gets reinven- 
ted for London as a play with 
songs, brought down in scale 
to an intimacy that neither 
original film nor the Broad- 
way musical ever achieved. 

The result is generally en- 
chanting: a musical of light 
and joy and jokes never better 
than in an up-on-the-roof love 
scene with Ann Crumb and 
the brilliantly versatile Gary 
Wilmot, lovingly choreo- 
graphed by Tudor Dairies. 
Sure there are better and 
braver musicals around, but 
few capable of spreading 
such utter, simplistic delight. 

At the Duchess, Peter 


Shakespearean thriller of 
about two hours trying to es- 
cape from a considerably 
more dozy three-hour ramble 
around its characters. Tbe sto- 
ry is a remarkable footnote 10 
Stratford history; toward the 
end of Shakespeare’s life, in 
1613, his only daughter, 
Susanna, married to a respect- 
able local doctor, brought a 
case of slander against a local 
reprobate who had accused 
her of infidelity and of having 
venereal disease. On this 
sketchy truth, Whelan has 
constructed a very slow-start- 
ing but ultimately gripping 
courtroom drama that brings 
into question all contempor- 
ary notions of sin and virtue, 
truth and convenient fiction, 
religion and religiosity. 


D EAUVILLE, France — The first 
Deauville Easter Festival missed 
its nominal spot on the calendar 
by a couple or weeks, bur in every 
other important respect its credentials are in 
order. 

On the musical side, tbe impulse came 
from the musicians themselves, mostly in 
their early 20s — soloists, members of 
chamber groups or first desk orchestra 
players — who wanted to play with each 
otter a repertory a bit to one side of what 
they notmally do for a living. 

Deauville had the place. Tradition here is 
related to horses, not music, and in the 
midst of the horsey establishment is the 
Salle de Vente des Yearlings. This semi- 
circular, all-wood, roofed amphitheater, 
built and mainly used for auctioning horses, 
sears 600 in dose proximity to the action. 
The result — performers and listeners 
agree — is chamber music in just about 
ideal physical and acoustical conditions. At 
a time when the acoustical properties of 
new concert halls still seem to be a matter of 
potluck, this is to be treasured. 

A partial list of the key musicians in- 
volved include Renaud Capucon, a 21- 
year-old violinist who is a concertmaster 
this year of the Gustav Mahler youth or- 
chestra; two pianists. Cincinnati-born 
Nicholas Angefich and Jerome Ducros, 


By David Stevens 

International Herald Tribune 


and the Moragues wind quintet, both as 
groups and individuals, were on hand. 

The repertory of string quartets or piano 
trios justifies die existence of permanent 
ensembles, but much of the richest chamber 
literature can only be played by ad hoc 
ensembles. 

The repertory of the six chamber con- 
certs last week was not wildly adventurous 
— a lot of Schubert and Brahms — but 
much of what was played was music that 
should be heard more often in concerts, but 
require getting die right combination of 
mndriam together — for instance, 
Mendelssohn's Octet for strings and 
Schubert's Octet for strings and winds, the 
B rahms and Sch umann piano-string quin- 
tets, or Chausson’s Concert for piano, vi- 
olin and string quartet. 


W ERE it not for 
half adozen tre- 
mendous perfor- 
mances, not 
least Stephen Boxer as a Ma- 
chiavellian prosecutor and 
Teresa Banham as the equally 
tricky Susanna, the first half 
of "The Herbal Bed” would 
seem even more languid, but 
in there somewhere are all the 
seeds of the drama that are to 
come to fruition during the 
trial. Michael Attenbor- 
ough's agile production 
comes good, just as the play 
finally gets itself together for 
a surprising and wholly un- 
foreseen final twist. 

At the Hampstead. Daniel 
Hill’s “Cracked” looks Like 
the pilot for an array sitcom 
designed to do for the Gulf 
War what “M*A*S*H” did 
for Korea. A military psychi- 
atric unit has been detailed to 
stay close io the from line, 
ready to offer instant therapy 
to any soldiers who can no 
longer face the threai of battle 
but have no wish to be sent 
home as deserters. 

The basic joke in Terry 
Johnson’s wonderfully judg- 
ed production is of course that 
most of the psychiatrists are 
loonier than any of their cli- 
ents, a theme Johnson has ex- 
plored often in his own writ- 
ing. Bui Hill is a Jot less adept 
than Johnson at dialogue and 
plotting, with the result that 
the only truly moving mo- 
ment of his script is one in 
which a member of the team 
(hearrbreakingly well played 
by David Horovitchj explains 
how he and his wife felt on 
discovering that their baby 
son was autistic. 

“Cracked” is not so much 
well written as well re- 
membered from other army 
comedies that have a habit of 
suddenly aiming tragic under 
fire. 


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T HE final concert, on Saturday, was 
orchestral, with the young musi- 
cians already on hand being suf- 
ficiently reinforced to make a 
Mozart-Beethovcn-size ensemble. Three 
rehearsals under Emmanuel Krivine suf- 
ficed to produce a remsukable unity of 


purpose and chamber-music sensitivity in 
Mozart’s “Figaro” overture and Mozart’s 


both prize-winning products of the Paris 
Conservatoire, and the cellist Jerome Per- 


Conservatoire, and the cellist Jerome Per- 
□ 00 . already embarked on an international 
career. In addition the Dane! string quartet 


Mozart’s “Figaro” overture and Mozart’s 
final piano concerto (KJ95) with Maria 
Joao Pines as the delicate soloist, and 
Beethoven’s Symphony No. 7. This was 
held in the slightly soggy acoustics of the 
Centre International, mainly the venue of 
the annual festival of American films. 

Krivine, Pires and the violinist Augustin 
Dumay (in the Chausson) were the only 
“names” of the week. For the rest, the 
music was the tiling. 


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Songs of the Americas 


B ERLIN — This city’s three opera 
companies keep one another on their 
toes not only with operatic but also 
with concert fare that at times gets 
fairly far out. The Deutsche Oper’s latest 
Foyer Concert brought the Berlin debut of 
Voxnova. a unique ensemble consisting of 
one Frenchman, two Frenchwomen and the 
Chicago-born bass Nicholas Isherwood, er- 
roneously publicized here in advance as a 
Comanche. 

Isherwood. Voxnova’s spiritus mentor, 
does have strong ethnomusicological interests 
and has collected material, particularly in 
Central America. 

Voxnova is based in Paris and has a spe- 
cialty as esoteric as its personnel: the jux- 
taposition of native American music with that 
of Karlheinz Stockhausen, for decades world- 
famed as an implacably uncompromising 
high priest of die avant-garde. 

Isherwood has sung Baroque music with 
such discriminating conductors as William 
Christie and Nicholas McGegan, and Wagner 
with Zubin Mehta, bin his dozen years as a 
dedicated Stockhausen acolyte have em- 
braced world premieres of three Stockhausen 
operas in as many European cities. 

Voxnova’s program here opened with na- 
tive American music, followed by “Red 
Rock,” Pascal Dusapin’s homage to such 
music, with the majority of the evening de- 
voted to Stockhausen’s “Indianerlieaer,” 
subtitled “In the Heavens I Wander. . 


By Paul Moor 

Inienurtirmal Herald Tribune 


Stockhausen took English translations of 12 
poems from various tribes and set them for 
unaccompanied soprano (Isabelle Soccoja) 
and bass (Isherwood). The score Introduces 
sonic variety by having the singers sporad- 
ically “alienate” their voices, in foe Brechtian 
sense, exploiting such technical refinements 
as having Isherwood’s voice produce two si- ' 
multaneous pitches, in a brief one-man duet 
The four barefoot singers (Valerie Chou- 
aniere and Thierry Fours complete lie roster) A:- 
wear simple white two-piece suits of vaguely --r 
Asian design. Their accompanying instru- 
ments consist of a drum and a few rattles, their 
props of one straw mask and a sort of totemic 
staff. Their entrance, in a processional having 
to do with a snake, len the sophisticated 
Berlin audience audibly puzzled. 


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songs’ origins, languages or content 
Stockhausen's “Indianerlieder”' at least 


the one and only God." In spite of foe austerity 
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provides frequent moments of appositely 
spare, austere sonic beauty. Soccoja Ish- 
erwo od perform this difficult 40-minute work 
from memory — a phenomenon in itself. 

Voxnova will repeat this program Saturday 
evening in Paris at the Cite des Aits.- 


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INTERNATIONAL 



Vice Admiral Cees van Duyvendijk is deputy 
commander in chief of the North Atlantic Treat* 
Organization for the • Eastern Atlantic, with 
headquarters m London; previously he was 
deputy commander in chief of the Royal Neth- 
erlands Navy. He spoke with Brian Knowlson of 
the International Herald Tribune about key is- 
sues facing NATO. 


Wkather This Series of Tests 


Q &A/ Cees van Duyvendijk, Deputy Commander, Eastern Atlantic 


might this not make them second-class members 
and thereby weaken die alliance? 

A. There are some significant dangers. We 
should really fight that If we start allowing 
second-class members into the alliance, X think 
that will be die beginning of the end. We have to 
make it absolutely clear that they are full mem- 
bers — ■ with all the benefits, but also with all the 
burdens. 

over 
lace 


Q. Where do we stand in the dispute 

ropean should replace 
the American heading NATO’s Southern Com- 
mand, based in Naples? 


French demands that a Euror 


Q. As talks continue over a NATO-Russian 
charter, there have been calls for ‘‘reciprocity’’ 
from Russia, perhaps by allowing NATO officers 
into Russia’s Defense Ministry. 

A. I*m sure that there will be something like 
,/ that. We shouldn’t be too willing to accoxn- 
' roodate the Russians, and there is no need to 

rornpensatetbean. mana, cased m Naples? 

We should look for a constructive way, a A. France is always keen to say, “It isn’t 
®*“* n *5® forum, a’ constructive structure to France, it's Europe' — but I drink they have a 
join m deliberations and exchange our views. But — — — T¥ — • * -* - «-• — 

they should not be part of NATO, because this is 

an alliance, and it is n6t possible to have diem at 
the table as a nonmember. We can’t have them 
interfere with die decision-m akin g process. 

Q.If NATO deploys very low levels of troops 
in the new member countries of Centra] Europe, 


point here. Having said that, I see die problem in 
die Mediterranean. We have the Greece-Turkey 
problem. I think the United States is in an ideal 
position, within the alliance, to keep that under 
control. And they have military assets in the 
Mediterranean that are relevant to the Middle 


In all other areas, the Americans have given 
mare responsibility to the Europeans. I should 
prefer a European CINC [commander in chief] 
South, but under an arrangement where it is clear 
that we have an American next to him. perhaps, 
controlling the U.S. maritime forces in particular, 
and available as a mediator, because the Medi- 
terranean is an extremely complex area. 

Q, When will we know the outcome of this 
Franco- American debate — only in Madrid at the 
NATO summit meeting in July? 

A. The political pressure on reaching a de- 
cision is extremely heavy. I think that to start 
negotiating with middle and Central European 
countries on enlargement without having solved 
this problem is difficult 1 think it is extremely 
important drat we have a solution on all this 
before Madrid. My impression is that there is a 
fair chance that we will. 

Q. Some people argue that NATO has lost its 
reason for existence and therefore should be 
dismantled, while others talk about broadening 


its missions. What is your longer-range view? 

A. There will be a NATO in 10 years, there will 
be a NATO 50 years from now. NATO is a vital 
alliance. One of the big achievements of NATO 
is the victory in the Cold War. Another achieve- 
ment is that we have brought 40 nations together 
that were in a scare of war for over 2,000 years. 

And we have created a structure where we 
have integrated the military structures to such an 
extent, and where the interdependence between 
armed forces is such that even if politicians 
should decide — even if conflict emerged be- 
tween two members — it would be almost im- 
possible to raise arms against each other. For that 
reason alone, it is worth keeping the alliance. 

Q. But is it worth keeping the alliance under 
increasing European leadership? 

A. The connection between North America and 
Europe is a necessity. The Europeans are not able 
to deal with their own business and need Amer- 
ican leadership. As a European, I’m ashamed to 
say it, but it’s a reality. When die Europeans get 



Vice Admiral van Duyvendjjk 

their act together better, then we can share, within 
the alliance, the burdens of the world. But I 
should also say that Americans have to be careful 
not to be arrogant To say that NATO without 
Americans is a paper tiger is not at all true. 


TOWN: Labour Leaves Some in the Dark 


* 


r dlfi;. 


Continued from Page 1 

a shortage of jobs and an abundance of 
drugs ana crime. 

Heading toward Grimethoipe, one 
leaves behind the Britain accurately por- 
trayed by the boastful placard — a coun- 
try whose restored civic centers, sub- 
urban shopping malls and leafy bedroom 
communities attest to the robustness of 
its recovering economy under the Con- 
servatives. 

Success is even in the air. Sheffield, 
the regional capital that was long a soot- 
blackened steel town, now c laim* the 
cleanest atmosphere of any industrial 
city in Europe. ■ 

Enter Grimethoipe, however, and the 
roadside offers a different set of signals. 
There are red-brick terraced houses with 
windows and doors boarded up and 
clutches of middle-aged men idling an 
the main street and in the parking lot of 
the Red Rum pub. The vast hillside 
sloping off to one side is covered with 
weeded-over crushed concrete and rus- 
ted cables. 



An outspoken reportfrom the Council 
of Churches for Britain and Ireland 
called. “Unemployment and die Future 
of Work" chastised the political parties 
last week for ignoring what it called the 
growing: problems of poverty, unem- 
ployment and. social exclusion. 

“When so many are living in poverty 
ami unemployment, it is wrong to give 
priority to the claims of those who are 
already well off,” die document said. 
“None of the political parties has put 
forward a program which offers much 
real hope of improvement to those in 
greatest need.” 

Thoughtbe report was support e d by 
all ghtn rfi Hffn ATTnnarfrmp mmjwlwl 
by high-profile clerics and well-known 
economists, it did not attract lasting at- 
tention after its publication April 8 be- 
cause it prescribed a remedy of increased 
taxes, worker organization and govern- 
ment mending mat no political party in 
post-Margaret Thatcher Britain will go 
near. 

Prime Mmister John Major and his 
Conservatives are campaigning on their 
success in reviving the economy, and 
Mr. Blair’s Labour Party is saying it will 
preserve the gams and continue me pro- 
gress by not miring personal income 
taxes for five years and not exceeding 
current Conservative spending limits for 
. two years. 

“I keep hoping that the Labour Party 
is trying to grab the votes of the two- 
thirds and get them to pay attention to the 
other third.” said Mike West, head of the 
church Industrial Mission office in Shef- 
field. “It’s my only cause for opti- 
mism.” 

Speaking to a gathering at die Tinsley 
< Methodist Church in suburban Shef- 
- field, Gabrielle Cox. one of the authors 
of the report, said: “We once had a 



Jonathan Plowr/Tbr IWo VikTim 


Ken Hancock, left, manager of the Red Rum pub in Grimethorpe, and David Parry discussing unemployment. 


shared sense of decency and compas- 
sion, but it doesn't seem to be anything 
yon can appeal to any longer. Bring this 
subject up, and we British act like 
someone got sick on.the carpet We get 
terribly embarrassed, and we look die 
other way.” 

If poverty and unemployment go un- 
noticed in the political debate, they are 
also being disguised in g ov e rnment stat- 
istics. 

A recent study by Hall am Sheffield 
University’s Center for Regional Eco- 
nomic and Social Research suggests that 


Britain's unemployment statistics vastly 
understate the scope of the problem by 
leaving out people who claim benefits 
under a category known as “perman- 
ently sick.” 

Britain’s unemployed, the report es- 
timates, actually number 3.95 million 
instead of the officially recognized 1 .8 
million, or 14.2 percent instead of 7.1 
percent 

The researchers said this explained a 
phenomenon here in which industries 
shrink their work forces radically but the 
unemployment figures remain static. 


CLASH: Case Study of What U.S. Executives Should Not Do When They Come to Europe 


Continued from Page 1 

ideation that are only now being sorted 
out. along with a less-than-smoothly 
'functioning internal computer system 
that Mr. Ekberg said was stfll being 
fixed. 

Instead of creating a new name far the 
group, as toe merger partners _Ciba- 
Geigy AG and Sandoz AG (fid when 
they invented die Swiss drug giant No- 
vartis AG last year, Pharmacia and Up- 
john negotiators haggled at length be- 
fore settling on the uneuphonious 
moniker Pharmacia & Upjohn. 

The cultural problems were com- 
pounded by a highly ambitious cost- 
saving and downsizing plan that-aimed 
to slash $500 million of costs and 4,000 
employees from the payroll in the first 
year. “In retrospect,* 1 said Dick Brown, 
an American who was brought in as 
Pharmacia & Upjohn’s temporary chair- 
man, “we might have been a bit ag- 
gressive about the extent of cost savings 
in the first year.” 


*> 


Mr. Brown, a respected outsider who 
has won high marks in the telecom- 
munications sector since taking over as 
chairman of Cable & Wireless PLC of 
Britain, noted that the Swedish- Amer- 
ican drags group had also suffered be- 
cause it had missed profit expectations 
twice in the last few months. 

Indeed, analysts say the company will 
announce, possibly as soon as Wed- 
nesday. first-quarter earnings per share 
of 40 cents or less, a profit level that 
could disappoint investors hoping for 
dose to 50 cents per share- 

Looking back. Mr. Brown recalled 
that “everybody tended to bail toe mer- 
ger as a very, sensible thing, and it 
was.” 

He added: “It gave scale, scope, in- 
ternational presence and it enhanced tire 
product portfolio. But everybody also 
realized that ifyou take companies like 
these from different sides of the earth, 
then it is hard to meld them together into 
a high-performing single unit” 

, when he took over toe 


BRIEFLY 


merged group, ran into immediate trou- 
ble with European managers. As one 
senior Phannada & Upjohn executive 
said, on condition he not be named: 
“Zabriskie was charging hard, aiming 
high, keen mi numerical accountability. 
He bad tors ‘we’ll take every MU* ap- 
proach. The Europeans were closer to 
their people, seeking more feedback 
from toe troops, and they were not used 
to the American business culture.” 

While Mr. Zabriskie could not be 
reached for comment and die official 
company line is that he left as “a mutual 
decision.” toe executive vice-president 
for research at Pharmacia & Upjohn, 
Goran Ando, offered some insight into 
the culture clash. 

“I tun a Swede who has lived in both 
Britain and the United States for a num- 
ber of years, and I see in Americans a 
more can-do approach to things,” Mr. 
Ando said- ‘ ‘They try to overcome prob- 
lems as they arise. A Swede may be 
slower on the start-up. He sits down and 
thinks over all the problems, and once he 


Israel Defends Interrogations 

GENEVA — Israel defended the methods used by its 
security forces in interrogating suspected Palestinian guer- 
rillas as lawful an Tuesday and said investigators bad foiled 
90 terrorist attacks in toe last two years. 

In a repent to the UN Committee Against Torture, Israel 
cniH it investigated every allegation of maltreatment, and 
despite terrorism tried to uphold the rights of all people 
under its jurisdiction. Detainees had "personal and political 
motives” for fabricating claims, the report added. 

Nigel Rodley, a UN special rapporteur on torture, said last 
month that Israel used sleep deprivation^ .hooding and violent 
shakin g in interrogations, often in combination. Together, he 

asserted, they amounted to inhumane treatment. ( Reuters ) 

Clinton 'Optimistic'’ on Treaty 

WASHINGTON — President Bill Clinton said Tuesday 
that he liked toe prospects of ratification of the Chemical 


Weapons Convention by die U.S. Senate. “I am quite 
optimistic,” Mr. Clinton said two days ahead of the Senate 
vote on ratifying toe global treaty banning chemical 
weapons. 

The pact faced fierce opposition from conservative sen- 
ators, and it was unclear Tuesday whether supporters had die 
two-thirds of Senate votes needed for ratification. 

Mr. Ointoo cited apackage of 28 clarifying amendments 
that be said responded to “90 percent of toe objections” of 
the strongest opponents of the treaty. (AP) 

Japan- China Dispute Is Shelved 

TOKYO — Japanese and Chinese officials agreed Tues- 
day to put aside a dispute over a group of islands in the East 
China Sea in an effort to conclude a fisheries treaty, 
Japanese government officials said. 

The territorial dispute over the islands, called Senkakus 
in Japan and Diaoyus in China, had resulted in a deadlock. 
The issue was shelved during two-day talks on exclusive 
economic zones, toe officials said. (AFP) 


is reasonably convinced be can tackle 
them, only then will be start running.” 

"But I don’t know which style is the 
best.” he concluded. 

Mr. Ando said he had found that one 
solution was to move American and 
European managers back and forth 
across the Atlantic, even for brief visits. 
This, he said, “helps to speed up the 
development of contacts, and it en- 
hances understanding because you de- 
velop respect for each other.” 

.The Pharmacia & Upjohn situation, 
its top executives insist, is now being 
rectified. But the case is not unique, and 
in interviews this week, the top exec- 
utives of other European-based compa- 
nies offered insights into how Amer- 
icans who come to do business in the Old 
World should adapt their style. 

In Frankfurt. David Hermann, chair- 
man and chief executive of Adam Opel 
AG, toe General Motors Corp. subsi- 
diary in Germany, said it was vital for 
U.S. executives to be culturally sensitive 
in Europe. 

“I have become increasingly aware of 
how important it is for an American in a 
key executive position in Europe to un- 
derstand the fears and aspirations of toe 
people in the company he leads,” he 
said. “I see sometimes that people don't 
do that” 

As an example, Mr. Hermann said, 
“We all know max we are too expensive 
in Germany, but we often don’t realize 
as Americans that 52 years of social 
peace is also linked to the now clearly 
overblown social system and worker 
benefits.” 

While “you can explain, with brutal 
efficiency, how high toe costs are.” Mr. 
Hermann said, “you won't be able to 
find solutions in a collective-bargaining 
atmosphere if you don’t understand the 
other side.” 

Over- the past five years, Mr. Hermann 
has reduced the company's work force in 
Germany to 45,000 from 57.500 
people. 

In Paris, Lucio Stanca, chairman of 
IBM for Europe, the Middle East and 
Africa, also said he had experienced 



Dick Brown: ‘In 
retrospect, we might have 
been a bit aggressive. 9 

frequent conflicts between American 
and European management cultures. 

Mr. Stanca. who was born in Italy, 
said a good example was the kind of 
work product an executive could expect 
from American or European managers. 

"If you have an issue and ask two 
groups of managers to work on it. one 
European and American, then from the 
European group you get a more ana- 
lytical, strategic, theoretical and long- 
term view of key directions,” Mr. 
Stanca said. "From the American group 
you will get action plans, implemen- 
tation plans, key dates, milestones, an 
American business plan." 

When asked what advice he would 
offer to American executives coming to 
Europe, Mr. Stanca said: “Some of my 
colleagues make the mistake of thinking 
of Europe as one single entity, and this is 
a dramatic mistake. Europe is an ag- 
gregation of very different identities.” 
He said that a second “very common 
mistake” was a tendency to assume 
“that what is good and right for America 
must work in Europe.” 

In Europe, he said, “it is important to 
respect the local culture and to combine 
it with the American way of approaching 
business.” 


“In parts of the North — like the coal 
fields — official rales have barely re-, 
acted to the disappearance of formerly 
dominant employers.” the report said. 

The Grimethorpe Colliery was shut 
down in 1993, one of last networks of 
underground tunneling to be capped 
with concrete in a government pit-clos- 
ing program that left only 100 strip and 
deep mines with 15,000 workers in an 
industry that immediately after the war 
counted 1.500 mines and 700,000 em- 
ployees. Since 1985, 230,000 mining 
jobs have been lost. 


TV: 

Global News Battle 

Continued from Page 1 

CNN is $500 million, said a company 
spokesperson. 

“Not being in toe UJC. has been one of 
our greatest disadvantages, but now that 
we will have a presence at home, we will 
have a stronger base for expansion,” Mr. 
Williams explained. “We are determined 
to make BBC World profitable within the 
next two to three years,” he said. 

At MIP-TV, the annual international 
television market here that attracted 
some 10,000 broadcast executives and 
program buyers, Mr. Williams was 
busily negotiating with Discovery Com- 
munications over the BBC’s planned 
entry into toe United States. 

Despite the recent stampede of news 
sendees, only the 17-year-old CNN is 
turning a profit. Last year, the subsidiary 
network of the Atlanta-based Turner 
Broadcasting System Inc., a unit of Time 
Warner Inc., made a $250 million profit 
on $800 million of revenue, according to 
a company spokesperson. 

“Having a news network is important 
for raising toe profile of large media 
organizations, so they can lose money if 
necessary. But there will be some big 
casualties in the next few years,” Mr. 
Cramer predicted. “Even though audi- 
ences are growing weary of this pro- 
liferation of news channels, the large 
media companies feel obliged to roll 
them out.” 

Responding to criticism that CNN is 
sometimes viewed as “a mile wide and an 
inch deep,” Mr. Cramer is revamping its 
programming. He said that the network 
would, for example, add a half-hour show 
devoted to a single issue of die day. 

“The Coming Plagues,” a four-hour 
documentary series on the Ebola virus 
and other epidemics, airs in July. As one 
of toe benefits of its affiliation with Time 
Warner, toe network also plans a series 
co-produced with Time magazine. 

As part of its regionalization cam- 
paign. CNN launched a 24-hour Spanish 
service last month, broadcast from its 
Atlanta headquarters. 

The latest series of CNN makeovers 
involves beefing up staffing in the Lon- 
don. Hong Kong and Atlanta offices to 
generate locally targeted and scheduled 
programs. The first offerings of this 
1 armed regionalization will be break- 
fast news shows produced in London 
and Hong Kong, which will be in sep- 
arate time slots. 

“If you’re sitting in Europe, why 
should you have Asian programs 
rammed down your throat and vice 
versa?” Mr. Cramer said. 

With North America dominated by 
CNN, toe battlegrounds for CNN and 
BBC World are Europe and Asia. 

Like CNN International. BBC World 
is keen to regionalize, in an effort to 
broaden its audiences and lure advert- 
isers attracted by a more targeted service. 
It launched its service in Berlin last fall 
and an edition with simultaneous inter- 
pretation into Japanese has been running 
for several years. A version in the Hindi 
language, co-produced with Carlton 
Television Lid., the British entertainment 
company, and the Hindustan Times daily 
newspaper, started in January. 

“It's certainly true that regionaliz- 
ation is the key to greater distribution. 
But it's also an open question how much 
expansion we can put into place because 
of the enormous costs involved,” said 
Mr. Williams. Unlike CNN, however, 
toe BBC service is under financial con- 
straints, be acknowledged. 

By contrast, CNN is expanding. It just 
opened a new bureau in Havana and has 
plans to open another bureau in Beirut 
within the next two months. 

Having spent 25 years at toe BBC 
before joining CNN last year, Mr. 
Cramer, who is British, knows the com- 
petition. While Mr. Williams charac- 
terized the British news service as 
‘ ‘more analytical and less reactive” than 
CNN, Mr. Cramer described the ven- 
erable BBC as "Himalayan, even pat- 
ronizing" in its approach to the news. 


I 


MOSCOW: With Chinese Leader’s Visit, Russia Is Looking East to Counter an Encroaching NATO 


Continued from' Page 1 

commitment to a new course of de- 
veloping partnership aimed at stra- 
tegic cooperation in toe 2Isr cen- 
tury,” Itar-Tass quoted the Russian 
Foreign Ministry spokesman, Gen- 
nadi Tarasov, as saying. 

“Tie spirit of the visit is in sharp 
contrast to the tendencies e merging 

in the West, such as NATO plans to. 
expand,” said Igor Rogachev, the 
Russian ambassador to China, ac- 
cording to toe news agency. 

. The Russian leader visited China 
last year and signed a cooperation 


agreement with Mr. Jiang, although 
neither side has publicly raised toe 
possibility of any forma] alliance. 

On Thursday, Mr. Jiang and Mr. 
Yeltsin will be joined at the Kremlin 
by leaders of the Central Asian na- 
tions of Kazakstan, Kyrgyzstan and 
Tajikistan to sign an agreement on 
troop reduction along their common 
borders. 

In an interview with Itar-Tass, 
Mr. Jiang said the agreement would 
have ‘ ‘a far-reaching importance for 
toe strengthening of relations” be- 
tween China and toe four countries, 
“and for the securing of peace and 


stability in the area of the border." 

Moscow has made Mr. Jiang's 
visit a hugely symbolic evenL 

Mr. Jiang, who has a good know- 
ledge of toe Russian language and 
literature, will go Friday to Yasnaya 
Polyana, the estate of the writer and 
philosopher Leo Tolstoy, about 200 
kilometers (130 miles) south of 
Moscow. 

Mr. Jiang brings an unusual per- 
spective to Chinese -Russian rela- 
tions. As a young electrical engineer 
in the mid-1950s, he spent two years 
in Moscow training at what is now 
the Zil automobile plant 


Not long after that, the two Com- 
munist giants had an ideological fall- 
ing out that chilled relations for three 
decades. The Chinese-Soviet border 
was a scene of constant tension and 
occasional dashes. 

Relations have grown wanner 
sinceaMay 1989 summit in Beijing. 
China and Russia already are draw- 
ing down troop levels along their 
frontier. 

With mutual trust growing, two- 
way trade rose by 25 percent last 
year, reaching $7 billion as China 
became a major customer for Rus- 
sian weapons. 


Irina Kobrinskaya, a foreign af- 
fairs analyst at the Carnegie Endow- 
ment for International Peace in Mo- 
scow. said toe demise of communism 
in Russia freed toe two countries to 
focus “on real national interests,” 
not ideological hair-splitting. 

She said China looked to Russia 
as a potentially huge trading partner, 
and wanted to ensure stability along 
its Russian border. Russia, with its 
smaller economy, already sees 
China as a crucial trading partner — 
its third largest — and needs 
China's cooperation to develop the 
Russian Far East (AP. Reuters) 




i 





PAGE 12 


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^ Style, Sounds, Dining, Arts 

g# Hemlines, jazz, restaurants and an - the 
, past year's articles from the JUT can be 

\ fawd on ourjite on the World Wide Web. 

- *vvhtip:/^www.jhLcom 


BUSINESS/FINANCE 


WEDNESDAY, APRIL 23, 1997 


International Funds Listing 

Track the performance of over 1,800 
international funds, exvry day. on the 1HT 
site m the World Wide Web. 


http://www.iht com 


PAGE 13 


Work Rules 

^ ILO Hopes to Instill 
New Set of Standards 

By Robert Kroon - 

Spedallo Jke Herald Tribune 

GENEVA — In a bold attempt to 
reconcile trade globalization with work- 
ers' rights; particularly in developing 
nations, the International Labor Orga- 
nization will propose a new set of stan- 
dards to protect workers. 

The proposed charter, to be an- 
nounced Wednesday, is likely , to be 
opposed by developing nations, par- 
ticularly in Asia, whim will feel that 
their low-wage trade advantages will be 
eroded. 

In a 7 7 -page document, Michel 
Hansenne, the organization’s director- 
general, proposes a set of measures “to 
I ensure that trade liberalization will pro- 
ceed apace with social reform add more 
humane working conditions.” 

The proposed reforms are certain to 
rekindle North -Sooth recriminations 
when they are formally presented at the 
annual 174-nation International Labor 
Conference in June. The United Stales 
and the European Union have come 
under criticism from developing coun- 
tries and some multinationals for trying 
to undo their cheap-labor advantages. 

But International Labor Organization 
officials claim that tbe nature of the 
debate is changing and that anew social 
code is on track. “Higher living stan- 
dards cannot be ordained, but trade lib- 
4 eralization without social progress is a 
* just a fairy tale," said a spokesman for 
the labor body, John Doohan. 

“This is about human .rights, not the 
redistribution of wealth,*' be added. 
“Ultimately, this new labor code will 
benefit all parties, enhance the image of 
big business and give governments 
more bang for their ILO bock.” 

Founded in 1919, the International 
Labor Organization has spawned hun- 
dreds of conventions that form the back- 
bone of social legislation in many coun- 
tries, including the United States. 

Mr. Hansenne warns that the global 
economy can be “more of a threat than 
a promise, unless it is linked with social 
progress and workers’ rights." 


- * -oirS- . - 

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• ■ isoh ■ 

Disputes are breaking out as newspapers in Russia are taken over by wealthy, invasive industrialists. 

Russian Paper Defies Its Big-Oil Boss 


By David Hoffman 

Washington Post Service 

MOSCOW — When the Russian 
petroleum giant Lukoil AO bought 
29.9 percent of the independent news- 
paper Izvestia in December, the editors 
reacted hopefully .' They sketched plans 
for ah ambitious six-year expansion 
that would be backed by their new 
investor. 

But now the newspaper is waging a 
war of words against LukoiL In a sud- 
den turn of events that has cast new 
light on lingering distrust between 
Russia's new capitalists and its jour- 
nalists, Izvestia has accused Lukoil of 
trying to grab control, sack the editor 
and turn the newspaper into a mouth- 
piece. 

Tbe conflict is only the latest ex- 
ample of tensions that have arisen as 
the Russian media have become 
takeover targets of wealthy industri- 
alists following last year's presidential 
election, in which most of the press 
lined up behind die re-election cam- 
paign of President Boris Yeltsin. 


Tbe dispute is being watched be- 
cause Izvestia — which in tbe Soviet 
era was die official government news- 
paper — is considered the most stoutly 
independent and democratic of Rus- 
sia's papers, and one of only three 
dailies with a national circulation. 

The other two are Komsomolskaya 
Pravda, a racy broadsheet with the 
biggest circulation, and Trod, once the 
official organ of labor. Both have been 
subsidized in recent years by RAO 
Gazprom, the natural gas monopoly, 
which was on the verge of purchasing 
20 percent of Komsomolskaya Pravda 
when it was snatched away by a rival. 

Gazprom and Lukoil are Russian 
corporate giants with significant polit- 
ical clout, and both are stiD partly 
owned by the state. 

In an unusual display of solidarity, 
13 prominent newspaper editors wrote 
a letter to Mr. Yeltsin, published by 
Izvestia in Tuesday's editions. The let- 
ter expressed alarm about the “forced 
reorientation'* of Izvestia and Kom- 
somolskaya Pravda at die hands of 
their corporate investors. 


Tbe letter charged that the owners 
had interfered in the two papers out of 
political spite. They reminded the pres- 
ident that he said in a recent speech: 
“We would never again have political 
and ideological censorship. We have 
had it and we know where it leads." 
The editors added, “We do not want to 
go there either. But we are all being 
driven in this very direction.” 

Among those who signed were the 
editors of tbe newspapers Moscow 
News, Nezavisimaya Gazeta, Trud, 
Vek, Obsbchaya Gazeta and Argu- 
menty i Fakty, and the magazines 
Ogonyok and New Times. The head of 
the journalists' union and an associ- 
ation fighting for press freedom also 
signed. But tbe editors of nationalist 
and Communist-oriented papers did 
not 

Displayed above the editors' appeal 
on Izvestia’s front page is a personal 
note from the cellist Mstislav Rostrop- 
ovich, insisting that the new owners 
not impose their w hims on the news- 

See PRESS, Page 15 


Korean Distiller Jinro 
Escapes Bankruptcy 

Bonk Steps In to Prevent ‘Domino Effect ’ 


By Velisarios Kattoulas 

International Herald Tribune 

SEOUL — South Korea narrowly 
averted its third major bankruptcy of the 
year Tuesday, when the nation's biggest 
distillery failed to meet debt repayments 
but stayed in business because of a last- 
minute rescue plan. 

Commercial Bank of Korea's rescue 
of Jinro Lid. appeared to be orchestrated 
by the government to prevent a “dom- 
ino effect'* in which scores of sub- 
contractors and other related companies 
might have collapsed, analysts said. But 
while they applauded the plan for pro- 
tecting the broader economy from an- 
other damaging shock, they said that in 
the long term it would only make it 
tougher to restructure Korean industry 
and financial institutions. 

“Having big companies going bust is 
really affectum the economy." said 
Daniel Yoo. a financial analyst at Dong- 
bang Peregrine Securities. “So by try- 
ing to ease out of the domino effect, the 
government is doing the right thing in 
the short term. But it doesn't solve the 
real problem that Korean companies 
don't care about profitability ana about 
funding themselves property.” 
Government officials could not be 
reached for comment 
The rescue of Jinro, with estimated 
debts of 3.2 trillion won (S3 .58 billion) 
follows the collapse of Hanbo Steel Co. 
in January with debts of 4.7 trillion won 
and of Samrai Steel Co. in March with 
debts of 1.7 trillion won. Those bank- 
ruptcies rocked Korean financial mar- 
kets and cast a shadow over the nation's 
economy. 

The government now expects the 
economy to grow about 6 percent in 
1997, Korea's lowest growth rate in five 
years. But Dongbang Peregrine, which 
expects weaker consumer spending than 
most other private research institutes, 
has forecast growth of just 4.1 percent 
Trading in the shares of Jinro. the 
flagship of South Korea's 19th largest 
business conglomerate, or chaebol, was 
suspended following its default on the 
payment of promissory notes. Usually 
such defaults lead to a suspension of all 
the company’s bank accounts, the first 
step toward bankruptcy. 

The Seoul stock exchange reacted 


badly to news of die scale of the widely 
known financial woes at Jinro. which 
used debt to fund overly ambitious ex- 
pansion. The index closed down 12.69 
points, or 1.8 percent, at 687.96. 

An executive with Commercial Bank 
of Korea said Jinro, which failed to pay 
back 50.4 billion wo a in promissory 
notes and checks called in by nonbank 
financial institutions, would only be 
bailed out in exchange for collateral, such 
as the managerial rights. Newspaper re- 
ports here said Chang Jin Ho, Jinro's 
chairman, had refused to step down. 

Built around brewing, distribution, 
construction and foods, Jinro had ac- 
quired by the end of February its 3 J2 
trillion won in debts because of its rapid 
expansion into new ventures. The com- 
pany, which had $3.9 billion in 1996 
sales and 6,000 employees, has been 
trying to stay afloat by selling $13 
billion worth of real estate and by halv- 
ing die number of its units to 1 2 through 
mergers or selling businesses to bolster 
its finances. 

On Monday, Commercial Bank an- 
nounced it would rescue Jinro and five 
affiliates after the Jinro Group said last 
week that it would sell off property and 
affiliates to raise cash to lower its debts. 

Commercial banks last week said 
they would continue to extend credit to 
the 51 largest business groups, even if 
they defaulted on debt repayments, as 
long as there was hope their operations 
could be salvaged. The agreement stip- 
ulates that banks calling in loans with- 
out permission of a bank committee set 
up to oversee the agreement would face 
penalties. But nonbank financial insti- 
tutions were not party to that agreement 
The decision by Commercial Bank to 
keep Jinro’s credit lines open sets up a 
potential battle between leading banks 
and nonbank financial institutions. 

Institutions such as merchant banks 
and savings trust firms argue that they 
stand to lose the most if troubled compa- 
nies are allowed continued access to 
credit In recent months, non bank fi- 
nancial institutions have been accused of 
contributing co the financial troubles of 
South Korean companies by routinely 
calling in notes on market rumors. They 
have countered by saying they must de- 
mand payments because their loans are 
not backed by collateral. 




Good Web Sites, but Risky Investments 


By Allan Sloan 

WashingionPotn Service 

WASHINGTON — La's go play 
with the Internet for a while. No, we’re 
It not going to dial up our Net provider and 
' go surfing electronically. Instead, let's 
surf through tbe financ ial statements of 
two of the Internet’s most interesting 
companies: Yahoo Inc. and 

Amazon.com Inc. Even in a world of 
midtimedia interactive global informa- 
tion superhighways, we can learn a lot 
from plain old reading. 

Let’s start with Yahoo, which created 
the Yahoo search engine Thai helps 
people find stuff on the Internet. The 
company is being touted as “profit- 
able” by many Nemiks. Yahoo aid, in 
fact, earn $96,000 in the fourth quarter 
last year — pretty impressive fora com- 
pany barely two years old. 

But look behind the numbers, and you 
find that there’s less to Yahoo’s profit 
than meets the eye. 

The company had $13 million of 
investment income during that quarter. 
l-i. Without that amount, Yahoo would 
have shown a $1.4 million loss for the 
quarter. And the investment income did 
not come from Yahoo's operations. 
Rather, it is the money that Yahoo 
■ earned on the money it amassed last 
year by selling $100 million of stock, to 
investors. 

For 1996, Yahoo’s cash earned $3.9 
million, while Yahoo's operations lost 
$6.8 million. All this is eminently clear 
to anyone who bothers to read the com- 
pany’s annual report. 


Yahoo’s cash gives it staying power, 
unlike many of its competitors. But the 
company has to prove it can consistently 
make money on its operations. At a total 
stock market value of more than $1 
billion (including option shares), Ya- 
hoo’s share price — $26,125, after fall- 
ing $2,125 on tbe Nasdaq Stock Market 
on Tuesday afternoon — still strikes me 
as a triumph of emotion over logic. 

Yahoo was part of last year’s hot 
Internet play: Search engines. Now. if 
stock peddlers have their way, it’s the 
nun of Internet retailed — or e-taiters, 
as they are known. 

Which brings us to Amazomcom, 
which is trying to raise money by selling 
stock to the public. It bills itself as the 
“Earth's Biggest Bookstore.” Dial up 
the Web site, press keys and in a few 
days, a book appears at your door. Pretty 
neat, bat is it a business? 

The company founder, Jeffrey Bezos, 
declined to be interviewed because of 
Securities and Exchange Commission 
regulations that limit what executives 
can say when their companies have a 
stock offering in the works. But before 
Amazon.com filed papers at the com- 
mission, Mr. Bezos said that tbe com- 
pany would be showing profits if it were 
not trying to expand its business. 

That’s not at all dear from 
Amazonxom’s financial statements. It 
lost $6 million last year, of which only 
$23 million was '‘product-develop- 
ment’’ costs. Amazon.com had about $6 
million on hand at tbe year-end. but was 
nmning through cash at the rate of more 
than $2 million every three months. 


The company has stayed afloat by 
raising $9.6 million through private 
stock sales. But at Amazon’s asking 
price for selling stock to the public, a 
stiff $13 a share — valuing the whole 
company at $340 million — public in- 
vestors could find themselves up tbe 
proverbial river without a paddle. 

One problem is now that 
Amazon.com has blazed the path, com- 
petitors such as Barnes & Noble Inc. are 
opening their own books-by-Net oper- 
ations. Tbe wholesaler that provides 
Amazon.com with half its books has also 
set up an on-line business. Amazon.com 
has cut prices to compete. 

Then there's the high asking price 
and the sour mood besetting high-tech 
initial public offerings these days. All of 
this makes it likely that the brokerage 
houses peddling Amazoo.com stock 
will have to drop the price, reduce the 
number of shares being sold, or both, to 
pull off a successful offering. 

The documents make it clear why Mr. 
Bezos wants to get the stock offering 
done. The $10,000 that Mr. Bezos in- 
vested two years ago would become 
stock worth about $130 million if the 
offering is a bestseller. 

I'm not saying that Yahoo and 
Amazon.com are doomed, or that no 
Internet company will ever make 
money. But it hasn't happened yet, and 
will probably take years. Meanwhile, 
try not to get hooked on hype. And try 
not to confuse a good Web site with a 
good investment. 

Internet address: 
CyberScape@ih (.com 


CURRENCY & INTEREST RATES 


Amsterdam 
Bnasctt 
j Frankfurt 
vUMmM 
Madrid 

mbm 


Cross Rates Aprt22 

* C BJL FI. Ill DJI IF- u. m O PajljB 

Amsterdam I JS7 11B I.U*& USD MW" — W 51 ' 

ST ?£ S - & J5- St SB- S St- 

L ^ 7M» MRS U* SOtB 23W MM 2X3 HUM 

Madrid iMffl tmmu wm as oa wn* tub ~ 

UHLS ubS wtjb 39 U? — wn as s una u*i lain iu» 

I 155 Sw uw aSrt Q«M- arai uw* «w uw — a®* 

zwieta i-«5 rm mm msb 52" JjS* 

, i un am | sen f «*» U5L27 VM *** “JT 

I SDR un? OSS) 130 7JBS 1334® l™ 

Ctes/nui In Antsftntom. London AiOon. Ports and Zurich. Bxbgs tn other cwswsr HemYorttaS 

Other Dollar Values 

, - i-.. fm-ii pars P u mm ct ftrl CuilioCl Per* 

Mstew* 7JM9 5. JUr. rand 4446 

fnwrt-P*" xSl 1-440 7 SL.Kor.woa HWSO 

AaundbMl 1»- "—”!!■* '£2 7 SMB SmLhnaa 74478 

Aaxtriaa sel. UMS t«aB.lortBJ 17M5 TAmS 2742 

■radical IJJ61S Indian nycc ^S- 76 114 Ttaritafct 2AM 

a*«My«a BJM 17W3 TurtMUn. 1M250. 

z*****™° SiSa-t uSi totnui SRU UAEdMwai ISTH 

sr£s ^ sjst- ss gu- « 

SKjSr 5.1 60S . Malay. ring. ZSWS »*S UM 


N. Zealand S 

Mona. On** 
PMLpasa 
Pod* rialy 
p-ort. escudo 
RassreMe 
Sons rival 
Stag.* 


dmacy 

S. AH. mod 

IKor.waa 

SMHLhroafl 

Trims 

Tftdbam 

TuridWhan 

UAEOriNH 

Vem-boR*. 


Ubld-Ubor Rates April 22 

Sols Franca 

Denar D-Marit Fmc Staring Frnec Yen ECU 

1 -<nontti SYe-SVta 3VW-3V* let-TVa 6V»-6Ve 3Vta-3Va Va-Ve 4.4Vh 
unontn aht-Stk J-3M Idta-I 3W-3iS 6Y»-4VH 

6 -raonth 5H-6 3M»- 3M* 1«Va • 1 - 6-V* SVa-TW, 41*-414 

1 -venr VA-Vk 3ft-3 1«yu-2V» 7V*-7Y* 314-3% <V*-4Vi. 

Sou cur Qsuta* UonSs Bank. 

Kates apflOcaDie fa interbank Oepo&its of SI mflfion mtotmum foreflw/vnfenij. 


Key Money Rates 

Uritad States ' a 

Discount rata 

Prtwerria ^ 

Federal funds 
Writy CDs deafen 
W-dayCP darim 
3 wo rth Treasury bK - - 
How Treasury bHl . 

1 ywy Treasury Ml t 

5-yew Tronsary nolo i 

7-|ewTieamy not* t 

10-year Treasury eotc < 

SDycw Troamry bawl 
MenU Lynch 30-day RA 4 

Ja— 

Dfacaant rate 1 

CaBnoaey t 

Tnurtkfefntiuiik < 


Bank base rate 
cnimaaoy 
1 -aari tateitaak 
3 w ari > tatertawh 
6-waaibtetertat: 
1 Hoar Cflt 


100 100 
too 514 
ttta 4Ve 
m 6M 
644 6V» 

IS) 7J6 


Forward Rates 


640rtD MtertRHtt 
Ifr-y e nr Cool bond 


Crmv «Htay FMW Ctete-cy »Wta, W FHtaf 

™ ^ SS !S » = « 

1J0« 1.W* 


Lootbdri rate 
Cn8 money 
1-morib taterhank 
MkUriri 
6 -mooHi IwtariMuA 
liHwwlMari 


Intwwrtton rate 110 no 

Cal owner 3V* 

1-anriH tatertnak 3¥e m 

Mwrife tateftenk 3flt 3fe 

knn tatartank - 37» 3Ya 

KHewOAT 182 531 

Sawces: Reuters. Bhwaibera, Merrill 
Lynch. Sank oi Tokvo-Mllaublsnt, 
CdmeeatmH, Cara yumaa. 

Gold 

ajvl pj*. arse 

Zurich 342-05 34140 -0J0 

LwakM 34100 341 A 0 —OM 

NenrVMr 345S0 34040 -140 

US- dollars per ounce- London official 
things Zurich ana New Yak wming 
and dosing prices New YoritCtmex 

Uune} 

Source: Reuters. 


Global Private Banking 


ECURITY IS THE MAIN REASON 


WHY SO MANY CLIENTS BANK 


WITH US. AND STAY WITH US. 



IteaJqiuirlerr nj Kt-'piit’/u 
National Ittinh a) Sure liirt 
(ShumI jt.t. IIP (>l'nL-M. 


Many private tanking clients split tlieir 
assets three ways. They heep a part for special 
opportunities. Another part for longer-term 
growth. And, very importantly, a part they 
know is ahsolu tely secure. 

At Republic we are well equipped to 
provide our clients with all three options. But 
ofitopuhlic what the hank is best known for; world- wide, 

a) Now York . * i t 

r.r Ora**. «. is its outstanding security. 

We assure security hv maintaining some of 
the strongest capital ratios in the hanking indus- 
try, a high degree of operating efficiency and a 
relatively small loan portfolio. Our credit ratings 
are AA. 

Clients sense this security in the quality of 
our service: personalized, responsive, hut meticu- 
lously discreet. Which is why they bank with us, 
and stay with us. Security and service, after all, ^ 

are the heart and soul of Republic. K ^y 


Vl.rt.i (•■irf.-rn ../ 

K.’pnl'lif .N ii/i" ItuiiL of 

Xetr York in .V«ip Kvi. 



Republic National Bank of New York’ 

Strength. Security. Service. 


A S-ilY-al 1 tank • Ni-» li'rk - I'l-n.-vj - lannli.it - • lU-inti ■ lt.-v.-rly I [illit - Itiu-mM Vir» ■ l "a; matt IrlanJr - l ti|H'iilu*-ii - litlirallar 

I'n.-nin'; • ilmttf Kmij! - Idli.irtr • tin AiuS-U-a • Ijijiim - Ijiunilmiirj!- Manila - Mrxi.ii Gil. - Miami « Milan - Mnnli- L'arln - Mtntl.-. iJ.i> 
Mtniliviil ■ Mwi» - Xaraju • l*ari* * I i-rtli • Pimla Jul Kale • Kin J.. Jaii.-int • Sanli.i^n • Siil<j|«nrt’ • SvJiitfy • Tiii|»"i * litlcjm • li>n>liUt - Zurich 

'• L , .-*i. l lili. Vila -n.il IuhL ..I X. Y.-rl I 'Ml. 



PAGE 14 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, APRIL 23, 1997 


THE AMERICAS 





Retailer Haft Accepts Buyout 


Soaring Profits Help 
Stocks Gather Steam 


Dollar in Deutsche marks 


By Margaret Webb Pressler 

Washington Past Service 



N D J P M A 


J F M A 


1996 

1997 

1996 


1997 

■Bohans* •• 

-tacte 

Tuesday 

' Pro* . 

%■ 

; .. .. . 


®4PM 

Close. 

Change 

WYSE 

TheDow 

•683059 

6660.80 

+ZB6 

wse 

"3S8P808'" • 
sap too - ... 

77464 

.75756 

760J37 

T42J33 

+1.88 

+2,11 


M5E . .Cttqposflet; v 

'AMEX ' \ • Mattel Yakie 
Tcriaiao TSE fntfaot" 
SSo Paula Borospa 

• ■ ■ ' 

BuenosAtrestAarval,, 
Sa-tS^at)’ " tP^ General 
Caracas. .-Capftai Genes 
Source; Bloomberg, Reuters 


406 M 


^tscteq.Cofnpoate 1212.74 
Mattet Value 544.96 

TSgfafaot" 5548.90 

BOttSfflpa- " 9473.75 


396.40 +LS1 
12 04^1 . +Q.7t 


712.16 

5380.55 

HA. 


551.47 -1.18 

5791.70.. +0.89 

9422.20 +035 

3752.14 +1.S1 

SS728 +2.13 

5352.31 
6826.10 


WASHINGTON — Herbert 
Haft, the retail magnate, has 
agreed to accept a $42 million cash 
buyout to relinquish control of the 
midtiraiilion-dollar retail empire 
he founded. The deal would end 
his four years of open warfare with 
his wife and children for control of 
the Dart Group of family compa- 
nies. which includes the Crown 
Books Corp., Trak Auto Corp. and 
Shoppers Food Warehouse Corp. 
chains. 

Although still subject to numer- 
ous approvals, the tentative set- 
tlement between Mr. Haft and Dart 
was struck Monday, in the last 
moments before a Maryland bank- 
ruptcy judge was to have appoin- 
ted a trustee to take control of the 
family's real-estate management 


company. Combined Properties 
Inc. had filed for bankruptcy pro- 
tection from creditors in May 1995 
as a result of the feud. 

If this settlement is accepted and 
other nearly settled Haft family 
issues are resolved, sources close 
to the deal said, no Haft family 
members will be involved in run- 
ning Dart Mr. Haft founded the 
company more than 50 years ago 
with a discount drugstore. 

Had a deal between Mr. Haft 
and Dart not been brokered 


Monday, the bankruptcy trustee 
would have begun selling at least 


would have begun selling at least 
some of the Washington-area 
shopping centers owned by the 
Hafts to repay creditors, such as 
mortgage lenders, who were 
dragged into the family's dispute 
through the bankruptcy process. 
The potential tax consequences of 
having their properties sold in this 


manner pushed the Hafts toward a 
settlement of the litigation out- 
standing between the family and 
its companies. 

The agreement reached Monday 
was between Mr. Haft and Dart. 
Lawyers for Dart and the Hafts 
said in court that a settlement of all 
other outstanding legal issues in- 
volving the Hafts is just days 
away. 

Sources said the deal calls for 
Mr. Haft to get $42 million, a third 
of which Dart had put in escrow IS 
months ago but was never dis- 
bursed because of pending litig- 
ation. Once that settlement is fi- 
nalized, what will likely happen is 
that control of Dart, with sales last 
year of $678 million, would pass to 
Richard Stone, who was appointed 
as a trustee for the company in late 
1 995 in anticipation of this kind of 
event. 


tiHcnuuuojJ Hereto Tribune 


Viacom to Sell Blockbuster Shares 


Very briefly; 


Test CPI Outpaces Standard Index 


WASHINGTON (Bloomberg! — The U.S. experimental 
consumer price index rose at a faster pace than the standard 
index in March, although longer-term trends suggest that the 
index, the government’s main inflation gauge, gives a higher 
estimate of the cost of living. 

The test index increased 0.2 percent from a month ago, 
according to Labor Department figures released Tuesday. 

In the official report for March, released April 25, die CPI 
increased 0.1 percent For the past 12 months, though, the 
experimental CPI was up 2 J percent while a baseline using 
the same methodology as the official CPI rose 2.7 percent 
Critics say the official CPI inflates the budget deficit by 
overstating the cost of living and pushing up entitlements. 


Coopted by Oar Staff From Dz**Md*s 

NEW YORK — Viacom Inc. said 
Tuesday that it would sell stock in 
Blockbuster Entertainment Group 
and that the unit’s chairman. Bill 
Fields, bad resigned after just a year 
on the job. 

Viacom bought Blockbuster in 
1994 for$8.4 billion from H. Wayne 
Huizenga. But Blockbuster's per- 
formance has been poor lately, and 
Viacom said its first-quarter cash 
flow would drop as much as 20 
percent because of weak video rent- 
als and sales. 


Viacom plans to issue a special 
class of shares early next year that 
will track the performance of Block- 
buster, but will not represent an 
ownership stake in the company. 
Sumner Redstone. Viacom’s chair- 
man. said the new shares would 
allow those who wanted to invest 
strictly in Blockbuster to do so. 

The amount of stock to be sold 
has not been determined. 

Mr. Redstone once trumpeted 
Blockbuster as a cash machine that 
would support Viacom's high-pro- 
file brands, such as MTV, Nick- 


elodeon and Paramount Pictures. 

The departure of Mr. Helds, the 
former No. 2 at Wal-Mart Stores 
Inc., led to a steep decline in Vi- 
acom’s share price, analysts said. 
The shares were down $4.25 at 
$26,215 in late hading. 

Jill Krutick, an entertainment ana- 
lyst at Smith Barney, said the moves 
were a mixed blessing, particularly 
given Mr. Fields's resignation. 

“He was heralded as the turn- 
around master of Blockbuster," she 
said. “It certainly puts a taint on the 
deaL” ( Bloomberg , AP) 


Time Inc. Chairman to Resign 

NEW YORK (AP) — Reginald Brack Jr., the chairman of 


Weak German Forecasts Lift Dollar 


Time Inc., which publishes the magazines Time. Sports 
Illustrated and People, is resigning after 35 years with the 


Illustrated and People, is resigning after 35 years with the 
company. Time Inc. announced Tuesday. 

He will be replaced by Dan Logan, the chief executive of 
Time Inc., whose parent is Time Warner Inc. Mr. Logan 
previously ran the business side of the company. 


• Tele-Communications Inc., the nation's largest cable tele- 
vision company, said it would buy Keams-T ribune Corp., 
publisher of The Salt Lake Tribune and four other regional 
newspapers in the West, for $627 million in stock. 

• Laidlaw Inc^ a school-bus company, will sell its 20 percent 
interest in Allied Waste Industries uic. for $376 million and 
will use the proceeds to retire long-term debt 

• Lockheed Martin Corp.’s first-quarter profit rose 6.6 

percent, to S290 million, while sales rose 3 1 percent, to S6.7 
billion. [AFX. AP. Bloomberg] 


Cemqtdoi try Our Sag Fran Dupatdta 

NEW YORK — The dollar was 
higher against the Deutsche mark in 
late tradmg Tuesday after Germany’s 
leading research institutes cut their 
forecasts for economic growth and 
predicted a weaker mark. 

The dollar also gained against the 
yen after Japan's finance minister 
suggested that the Group of Seven 
leading industrial nations would not 
take steps to halt its rally. 

Germany's six major economic 
forecasting institutes lowered their 


The institutes also predicted the dol- 
lar would rise to an average of 1 .80 
DM next year. 

* ‘That got the dollar going,’ ’ said 
David Ogg. manager of foreign ex- 
change at Dresdner Bank. “The 


FOREIGN EXCHANGE 


1997 growth forecast to 2.25 per- 
cent from 2.50 percent. That led 


cent from 2.50 percent- That led 
traders to conclude that the Bundes- 
bank would not raise interest rates. 


Germans really can’t raise rates be- 
cause of their weak economy." 

The dollar rose to dose at 1.7 161 
DM on Tuesday, up from 1.6975 
DM on Monday. It rose to 126325 
yen from 125315 yen. 

The yen fell after Japan's finance 
minister. Hiroshi Mitsuzuka. said 
that at their meeting in Washington 


on Sunday, G-7 officials would only 
confirm the statement they made 
two months ago, when they said that 
the dollar’s * ‘ misalig n merits'* in 
early 1995 had been “corrected." 

frimmanrs from 

Sakakibaia, a senior Japanese Fi- 
nance Ministry official who is known 
as “Mr. Yen," also buoyed the dol- 
lar. Mr. Sakakibara said Monday 
night that currency rates could not be 
controlled by governments. 

Against other currencies, the dol- 
lar rose to 5.7905 French francs from 
5.7347 and to 1.4620 Swiss francs 
from 1.4415 francs. The pound fell 
to $1.6345 from $1.6355. 

i Bloomberg , Market News) 


OmjMlnOv Sagfnm DapaK** 

NEW YORK — Stocks soared in . 
Tuesday, helped by falling bond 
yields and unexpectedly strong earn- 
ings from large corporations such as 
Minnesota Mining & Manufactur- 
ing and Bristol-Myers Squibb. 

The Dow Jones industrial avaage 
rose 17338 points, or 2.6 percent, to 
6,83339. Advancing issues out- 
numbered declining ones on the 
New York Stock Exchange by a 7- 
to-5 margin. 

The broad-based Standard & 
Poor’s 500 index rose 1437 points, 
10 774.64. 

“The rally continues," said Tim 
Morris, chief investment officer at 
Bessemer Tiusl “Investors are re- 
acting to some good first-quarter 
earnings. And the money flows 
keep coming, a n d you have to put it 
to weak.” 

The Nasdaq composite index, 
which contains many technology 
company shares, overcame an early 
slide and finished 8.79 points high- 
er, at 1312.74. 

Treasury bond rose after a gov- 
ernment auction of two-year notes 
met with unexpectedly strong de- 
mand. The price of the benchmark 
30-year issue rose 18/32, to 94 27/ 
32, palling the yield down to 7.04 
percent from 7.08 percent. 

Oil shares rose as major compa- 
nies announced strong results for 
the second day. 

Texaco said its first-quarter earn- 
ings soared to $980 million from 
$386 million in the quarter a year 
ago as oil and gas production and 
prices rose. The company got a 
windfall gain of $488 million after 
winning a tax fight against the U3. 
government. Texaco said revenue 
rose 17 percent in the quarter, to $1 2 
billion. 

Shell Oil, a wholly owned sub- 
sidiary of the Royal Dutch/Shell 
Group, stud first-quarter earnings 
rose to $5 17 million from $483 mfl- 
iion amid higher prices, production 
and sales. The company posted a 
one-time gain of $18 million in the 
latest quarter, compared with gains 
of $98 million in the period a year 
ago. Revenue in the quarter rose 20 
percent, to $7.63 billion. 

Rising airline stocks helped the 
Dow Jones transportation average 
soar into record territory. It was op 
45.62 points with less than an hour 
of trading left, at 233247. 


The parent company of u g^d 

Airlines said profit rose to $215 
Son from $105 
earlier. Revenue rose 10 percent, to 
$4.1 billion from $3.7 bilLon 
Northwest Airlines said its first* 
- 9 1 nercent to 


,tori» s 

2:1.8 Bill* 


1 r 
'f 0 



jw.oauuwu 1 " ““"“o - 

set higher fuel prices and winter 
storms. Revenue rose 4.9 pw^nt, 
to $238 billion from $2-27 biumn. 
Minnesota Mining & Manufac- 

_ Cl tLn fwntAnr rtf 


turing shares rose after the maker of 
P0s£ft notes and Scotch adhesives 


said its first-quarter earnings rose 
13 percent, to $410 million as a 
strong U.S. economy helped sales 
rise 7 percent, to $3.7 1 bilhaiL 
RJR Nabisco Holdings Corp. 
said first-quarter profit rose 8 per 


wa mi 


US. STOCKS 


cent, to $213 million as improve- 
ment in its food business overcame 
cl uppish tobacco results. 

The maker ofWinston arid Camel 
cigarettes, Ritz crackers and Oreo 
cookies said revenue fell 3 percent, 
to $3.78 billion. The sales decline 
was blamed on disruptions in its 
tobacco exports to the former Soviet 
Union and the impact of a sales- 
fojee reorganization at Nabisco. 

But shares in RJR Nabisco and 
other tobacco companies were 
lower in late tradmg as some in- 
vestors began to doubt that U-S. 
cigarette makers and anti-tobacco 
groups would reach a settlement 
that would grant the tobacco in- 
dustry complete immunity fromli- 




■.-* b - • 


■ 4 ■ 
f r J* 


ability suits. 

Bristol-Myers Squibb 
jumped after the company s 


■Ip 

.■ ? i - 11 ' • * 


quarter profit rose i2 percent, to 
$810 milli on as sales rose 10 per- 
cent, to $4.05 billion. Pharmaceut- 
ical sales rose 12 percent, helped by 
strong sales of Pravachol, its cho- 
lesterol-lowering drug, as well as its 
cancer thug Taxed. 

Xerox reported a better-than-ex- 
pected 14 percent rise in profit amid 
rising sales of printing services and 
of its computer-compatible printers 
and copiers. Net income was $270 
mini on, up from $237 million in the 
year-ago period. Revenue rose 2 
percent, to $4.02 billion. Xerox 
stock was little changed. 

Stock in Duke Power, one of the 
largest utilities, dropped after the 
company said first-quarter profit 
feQ § percent, to $175.4 million as 
mild weather reduced sales. The 
company said revenue fell 23 per- 
cent, to $1.13 billion from $1.16 
billion. f. Bloomberg , AP) 


trading left, at 4532.47. 

UAL Corp. said its first-quarter 
afit more than doubled, tor ex- 


profit more than doubled, far ex- 
ceeding analysts' estimates, as 
traffic was spurred by a strong 
economy and falling ticket prices. 




AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


1^. . 2 
i.-jT-.: 

S3 =~- 
vT‘< l 


..r.>w34lMW 
,*.* ?in kc nar* 


Tuesday’s 4 P.M. Close 

The fop 300 most ocflw stores, 
up to toe dosing on Woi Street 
The Associated Press. 


ub nut it> im one Indexes 


Most Actives 


April 22, 1997 


High Law LateH Owe Opk* 


Late* Ow * OpfcU 


High .Law Lomu Owe Opw 


Dow Jones 


tOOT* Low L dal Owe opart ORMGEJUa (NO10 


10-YEAR FRENCH 60V. BONDS tMATOT 


u« low Oree 


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Ttaa 24081 15 L&J 24&3S ZQ5JM *J9JP 
US 211.64 tnjB 210.94 2123* +0JB 
Omp 210121 214402 2099-56 214402 *45.10 


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79403 404 
73549 36% 
73377 25% 
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56641 557.91 559-54 56696 
J«J0 19725 1B2S4 18124 
8557 83J54 84.16 95J4 

76739 75638 76037 77A64 
74830 73&OB 74033 75736 


maz ia*» 
33483 50* 


5M SH 
4m 44H 
37* 33V. 
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4BV| SOW 


CORN (CBOT) 

Mooapm w m w mcawiaarbiwiwi 

Mav 97 30W 2W6 301% +1% 7JJ02 

Jul97 301% 290VS 300 +1)9 177X38 

s«? 57 290 37 an *1 zusr 

Dec 97 05% 2 B) TSS'A +% 91X24 

Mar 99 290 '<5 281 80 4% 9,977 

ESL sates NA. Men's, sates 71,622 
Men's open ini 319315 ort 6250 


Mery 97 7575 7420 75JD +U5 1,152 

AI97 77 JO 7480 7720 +0J0 11271 

See 97 8058 8400 Baj5 +&2D 4,964 

Nov 97 B3J0 82J5 HB5 + 0 JB 2304 

EsJ.sdes NA Mot's, sotei U19 
Mon’S apenH 28324 up 139 


FF5DCLOO0 -OtS oMOO pet 

Jun 97 12834 12830 12B22 44L14166348 


Seo 97 12632 12668 12638 4-0.16 S8S3 
Dec V 9628 9628 96X2 40.14 0 

. EsLvoteme: 147319. Open inL: 170201 off 
1354. 


Industrials 

COTTON 2 CNCTN) 


Stek Ph 
1IU 10H 
im uv. 
l« 146 
23V, 2F* 

llte 11% 
5 5 

(% 9* 

a* 12H 
» % 
10 »»» 
5% M 
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m iv. 

B% 21 

l*i 1% 
17V» 17* 

1071ft 107 


17% 16* 

1% f«* 

5% 5% 

2 % 1 % 
43*i 41% 

2 % 2 % 
7% 7T, 

J% 5% 
SH 5% 
W» 6% 
W i 
11% 11% 


MbSMOT 51» 58670 5155 

uST SBi Su si 

H nance 3A44S 35029 36445 


Nasdaq 

8B. 


167552 48% 
163177 27% 

1 02511 11 OH. 
100925 141% 
9230 47 


45% 47% 
7« 2n% 
103H 110% 
137% 141% 


Nasdaq 


'3S2 ’12 


7TO3 274 
682)1 23% 
53£10 36% 
" 5% 

12 % 
7% 


15% 1» 

3» V 
1» 2% 
TU 7V, 
24 23% 

15 1A 

M 9% 
M 6% 
26 Z5H 
?IH 27» 
7 A 

5% 5 

16% 16 
TV, 7*» 
29% 29 

v« % 
12% 12% 
m n 

ZV, 2 
17% 17% 

4% 4V. 

7% 44, 

7% 7% 

19% IW 
2S% 21% 

IIH n% 
6 % 6 
6*. 6V, 

1 % 1 % 
9% 9% 

11% 11*% 
*7, 6 

p. st* 
(o% n 


17% 16% 

9 1% 

16% 16% 
J%> 2% 

12 17% 

It* 11% 

in » 

& S 1 

14% 14% 


165673 16493? 165673 
841-71 HU) 86004 


36H j) 
25V, 271, 
21 % 2 % 

11 % 11 % 
6~» 7% 

4548m. 
9»* 9% 

30% 35 


SOYBEAN MEAL (CBOT) 
Wm-Mtetaartei 
MOV 97 27130 tarn mss *170 29303 
XI 97 27QJX) 265J0 27tL« *160 3L663 

Aw 97 261 JO 257.21 26140 *118 HU23 

SOT 97 247 2D KLOO 26600 *100 IX 

Od97 22650 22100 22650 *150 7.252 

Dec 97 22000 7T70O 21 9 JO *1J0 14346 

Eslstsa NA Mon's. sd(s 23A56 
Mon's ooenM 111572 a 0 819 


COLDMCM3Q 
las tray BL-dM 
Apr 97 343A0 
May 97 354.10 
JOT 97 34110 
Aug 97 36730 
0097 349M 
DecP 3S2J0 


npwtroraz. 
341 A0 341 A) 
35110 342.10 
34290 3040 
36S40 36600 


rTAUAU 60VBWMENTB0ND (UF9BJ 

m _200 twfcn-j*,ot loopct 

JunW 1Z7^ 13673 ®J4 -OSS 106290 

5*097 1Z7A0 12690 U7M *004 4J27 

EstsMec 6<436 Prev.xries 51035 

Pm. Often tats 112,117 to 4J05 


May 97 7190 7880 7IJI 

JUI7 7380 7149 7250 

Od97 7625 MOB 700 
Dec57 71U- 7495 7107 

Mw* 7620 7680 7618 
May 98 7651 7650 7870 
e*-**s NA Mun%«ta 
Mcrftopenw 75811 pH 60 


*028 njm 
*881 3MC 
+82J WJ4 

+0.17 nm 

*0.11 181B 
tans 65i 

tmh . 


tel.;.:. • 

-Tasjr.: 

Mi 


SOMA: To Hah S & i 


Aprf# 

Esf.sotes NA 
Avon's open K 


351 SO 35180 
35620 


Man's, sates 
1A» 08 « 


SOYBEAN OK. (C307) 
60800 fl»*- ttnts P*r Ip 
May 97 2648 3636 

XI 97 25.14 1674 

Aug 97 2627 2580 

So? 97 2533 2585 

0097 2530 2585 

Dec 97 2650 2S.K 
Est.stfts NA Mon's. 
Man 's open M 10K9 


3666 +105 22J79 

2585 -084 39875 
2519 -086 9J47 

25a -002 578 
2528 -007 5722 

2S8Z -008 16129 
sates 26225 
oft 1510 


551.96 541.47 54486 


Dow Jones Bond 


20 Bonds 
lOUBBUes 
10 InduOTtats 


10159 101 SO 

98J6 9758 

104.93 10503 


Va6 M%b 
5429* Z7% 
31260 77%, 
13149 27% 
llfiJ 24% 
6889 16% 

6073 4% 

£557 TV, 
4915 19% 

4800 £V» 

4743 9% 


25% TP* 
76 77% 
25% V 

22*1 23% 
16% 16% 


SOYBEANS {CBOn 

6000 bu mWrnw* «*n»i pw buSM 

May 97 MV) S32% B40% *3% 3kSB 

JU9T 844 83 M3 *«H 81J7B 

Aw 97 874% 117 82SV> *4% 0917 

SOT 97 751*1 744 751 +4% 7JB8 

Nov 97 695 488 4W% *5 *USt 

Est. sates NA Man's, sates 76931 

Men's ooenirt I82JS4 ell TBS 


JUNM-tMiwrA 
Apr 97 TIIjDQ 18785 1189 +110 1.515 

May 97 11180 18679 U980 +270 17.748 

JOT 97 109 JO W7JB 109.10 +2JD 1742 

Jut 97 109JO 10595 HKJO +2^5 10.939 

Auo97 11770 1B5S 10780 *115 856 

SOT 97 10780 10620 10580 +175 <225 

0097 VOX mi a F0699 *185 TJX 

NOV 97 K12A1 W2A0 KH8I +185 851 

Dec 97 10600 HMD 10280 +1J5 480 

Est sates NA Men’s, sates 4715 
Men' s ope n W 48737 aft 095 


EUROOaUARS (CMBQ 
SI mOTort«K allQO pel . 

May 97 KM MJ9 *610 340 

Jun 97 tun H* sun «9juo 

8497 9X92 mi 9383 4961 

Sap 97 tvs 9172 9176 +08147401 

Dec 97 9M 946 93L5D +082 294450 

M» 90 9X33 9X30 9335 +082 33240 

JOT 92 tlP 8X1 7 R12I +00 20X979 

SOT 98 9X11 9388 9X13 +082154535 

Dec 98 9381 9259 9383 +081127579 

Mot 99 KL01 9359 9382 *081 94088 

JOT 99 9196 9255 9258 *081 80836 

5*99 9195 9252 9195 +081 61.150 

BtntiS NA MotTS. sates Z7B5M 
AtaYkOTOTM 4569860 Pit 12383 
B8BTEHI>QUM>CCMB0 


SLVBKNCMX} 


Jon 97 18386 18X8 18M2 
Sep 97 18350 18320 18310 
Dec 97 18286 

Mot-90 . XtOK 

EsL sates NA MonTssates 6808 
Man^ apenOfl 34874 w 794 


Tradmg Activity 


Nasdaq 


Unowned 
TcMOTue 
New Kota 
New Lows 

AMEX 


*16 

1 £ 
3327 


T0WOTMS 
NtwHOTB 
New lows 


im 1468 

1984 25B 

2399 17* 

S743 S7U 

77 XS 

273 223 


WHEAT (CBOT) 

6000 Bu m6ibnum- awWs pw bvWwl 
May 97 445V, <11 441% *2% 6JT8 

JOT 97 450 437 447 558TC 

Seo 97 453V, 441 451 +% 12585 

Dec 97 462V, 450 460 +1% 12J31 

Estsates HA Man's sates 30,149 
Men's anenU 88861 up 2005 


Aar 97 47180 —280 2 

MOT? 97 47780 47450 47153 -100 4)^1 

JOT 97 mfO -289 2 

JOT 97 4080 47580 47680 -280 35808 

Sep 97 <8655 MOJO 461.18 -288 IBM 

Dec 97 0280 487 JB 0X50 —24® 6J7J 

Jan 98 «1.H3 -2JJ0 17 

Mot 98 496.10 -280 6473 

EsI. sates NA Mai's, sates 2iw w 
Man's wen Irt 99866 Off 2130 


OWAOUNBOLLAR (CMEB) 

100800 doOOT<swerCdn.«r 
Jun 97 7191 5177 Jm 778U 

sep 77 ms jm Jin <946 

Dec97 J270 7262 .7270 1812 

Mar 9* 7300 7300 J30O 732 

Estsrtes NA MorfxtOtS X956 
ManUflPenhrt B66» oft 788 


414Bla4.Mi 
May 97 5555 SU» 5485 -081 36729 

JOT P 5615 5280 5285 -057 31J96 

Jn(97 5625 5335 52.18 .-082 2X585 

Atw97 5135 5380 5280 . -4E 12J15 

Sep 97 5180 5480 5660 -457 7836 

CW77 5620 3X5 5580 —452 UM 

Nov 97 5675 5685 S6J0 . -042 6959 

Dec 97 57^ 5675 5680 -887 11781 

JOT 98 SJ0 57.15 SJK —462 6361 

POT 98 5785 5U5 5X75 -457 3.199 

EsLsOTos NA MonXsales 26X73 
TAoTs Often hi 144767 up 952 

LJSHT SWEET CRUDE WUBQ 
1X00 bbL-dotaiperbbf. 

2427 1980 1980 -8X7 H62M, 

8697 20J6 1980 WJ7 -441 WJ47 

an 19X6 1980 -431 ajM 

XJ* '785 I7JB -420 Xljn 

Od97 19JI 1982 1985 -022 16153 

NW97 1980 19JB 1985 -020 UJ55 

1}« »-S3 »X 0 -0J3 JWC 

25 25 W80 —OIH 163W 

POT 98 1982 1IJ2 19J2 —408 6103 

J* »» WXS 19J2 17J0 -426 16670 

^sOTes NA Man's. soteo 116227 
Men's epenw 423,170 up 964 

NATURAL CAS 0IMER} 

HUaommtei% IpwnmM, 

May97 2870 2835 2890 22J91 


Coniinutd !r< :v. I 


An 97 Z>25 ZB9P 2J35 
A697 2.140 Va 1155 


PLATMMUMER) 


Market Sates 


Livestock 

CATTLE (OUBO 


Apr»7 374^ -4J0 6 

May 97 38880 

JOT 97 380J0 37580 376.40 -410 HJSl 

0097 38180 37450 374M -4.W 28U 

Jot, 98 3RU0 —4.10 1,174 

EslSOte NA MaMssOTes 1X29 
Man's open Irrt 74X73 UP 272 


rv, 7 % 
?v, » 
l«i 14% 
4% 4% 

TSi MV 
13 12% 


Tew baes 
NewHkrtB 
New Laws 


St NYSE 
I Anm 
17 Nssrtoa 

tnirtiBons. 


501-70 47181 

2482 21.76 

58780 54434 


Are 97 69.® 69.10 6M2 *4M 

Jun 97 6457 64J0 66(7 -407 

AUS97 6470 6632 6645 -0J5 

CW97 (40 6422 6130 +102 

Dec 97 7OJ0 70JE 7410 -all 

FOTJ98 71.15 7499 71.10 -085 

Ed.sOTes 12X99 Man's-saks 9JOO 
Man's open urt 91122 oft 772 


LONDON METALS CLME} 

DoOoqpernHirfctoa 

AloOTun (Hu Crsdel 

Spot lSSVi 1S5V4 1516% 1517% 

Focwcrd 759980 759080 755280 JS380 


•BRIAN MARK (CMERT 
UOXOOwlKS PW Wfc 
Jun 92 J921 8450 8853 

Sep 97 59ZJ JB3 8888 
Dec 97 JN7 JtO JK3 
Mar N 80 ® 

Esl.sntes NA Man's. sates 39891 
Mirt epenw 8X751 oft 540 

JAPANESE YBUCMHO 
lUmBBon yen. Sow laa vwi 
J VtP JM 2982 2987 

SOT W 8MB 8094 8095 
DkW 8220 8220 8220 
E*. sates 76A Man's, sates 76236 
Mofsopenw B1XB2 off 264 


Ate 97 1145 1130 1150 

SIPP 2.150 1130 1150 


Od97 1180 1160 1M0 

MOV97 2890 1275 1290 


21391 

36S7 

16U9 

71295 

0.134 

16923 

WM'/nj 


SWISS FRANC (OAHU 


Dividends 

Company 


Pw And Roc Pay 
IRRE6ULAR 


Company Per Amt Rec Pay 

INITIAL 

Empire Otfl _ 875 5-9 5-30 

FsISecurCopn _ .17 5-16 6-2 

MARC Group n . .075 5-2 5-16 

Sufonna n Bncpn _ 84 5-2 5-19 

Skytandtcomnwn _ 825 5-1 5-22 


St 

6% 5*4 


IN «% 

u% in 


Baker Fentress 
BcerStewnsmSp 
DescSAdoCV 
EkCHwanno 
Fraeprt MCM Res 
KnignTsferTonk 
MBNA Carp ad 
MesaottsftrTr 
MesaRtfy Tr 

ReedlrrtlPLC 
Shanghai Pena 
Tow ADR B 


- 80 5-15 66 

_ .706 6-30 7-15 
b 8768 4-29 — 

- 88 5-26 6-26 

- J1 4-30 5-15 
B .17 4.25 5*9 
_ 4342 6-30 7-15 

- 8122 4-30 7-31 

.8986 4-30 7-31 
b .7724 4-25 64 

b .9696 5-15 - 

b 3094 M 4-30 


FE EUfcR CATTLE (CM43U 
aXQP tec- cores pw n. 

Aar 97 7150 7127 72X5 + 420 

Ma» 77 72X5 7182 7120 t-Q_T7 

AuB 97 7585 Tim 7127 +415 

Sep 97 71« 7SJ30 75.15 +0^1 

OcJ 97 7X60 7120 7135 +410 

MJV97 77J5 7680 7682 -0X2 

EsLsnles 1907 Man^. sates X991 
Morrs open ini HX65 Oft B9 


3410»°^R»T ^680 233980 
232080 232T8Q 228780 228980 


Spat 633% 634% 

Fcrwart 63980 64080 
Hkktl 

Spof 731080 732080 
Fwward 742580 743580 
Tin 


61980 62080 
£2680 62780 


« » J 881 
^97 4962 X9S0 
g vc” JP 5 jms JV5 
ptsdo NA Man's. sates 21898 
Man's oner W 47840 1 ^ 119 # 


723580 724580 
735080 735580 


SPOT 577100 570580 
Forward 581000 581580 
ZMc (Spedal Hlah Grade) 
Sprt TZ3Si» 123680 

Forward 125080 135980 


Dana Corp 
EojWnUlH 
FSJWARU! 
GaoOTdLS 
Kinder Care 


25L 25U 

9% « 


ST0CKSPUT 
FsJ SffcurCap 3 »r2 spiT. 
Sdiaing Plough 2 tor I spilt. 


LedngRmCorpor 
Meny Loreimv 
NofWK5oaffi 
QUKeniHn 
Park Nail Cp 
Red Lion inra 
SralHL Chories E. 
SauttwmCo 
TombrnoffSlne 
Union Elect Co 
Value Line 
Webster CBy 


Tie IV, 
s% MM 


11 % n% 
22% 21% 


JS 


s% m 

9% M 


A 5V, 
9% *9 


INCREASED 

apstene Cop Q X7 5-1 5-15 

NontWlFtld Q .14 5-6 5-20 

SOTMngPloogft O J 5-2 5-27 

TCFFnd Q 25 59 5-30 


u% n% 

1M 17 


YEABEHD 

Bouygues Offsn b .1713 6-36 7-7 


5- 30 613 
5-1 5-15 

5- 1 5-15 

6- 9 7-1 

4-30 5-15 

4- 30 5-14 

6- 16 6-J0 
5-2 670 

5- 15 613 
5-16 610 
4-30 5-15 

5-2 613 
5-5 6 Iff 
62 6-16 
6lo 6M 
4-28 5-15 
5-5 5-21 


HOCS-Lww (CMEBJ 
auBO bs.-cenisoerb. 

Jun 97 4520 BUS 1580 -425 

JOT 97 8545 BUS KJH -052 

Aup77 B2J0 81X5 BUT +8JJJ 

0077 7550 74J0 75X5 -US 

0eC*9 7ZS 7M0 72X5 +0.17 

Feb 98 70.95 7050 7U5 +X10 

Esl.s«es 8899 Mon's. ides 9823 
ANn'secenM 31834 is 1313 


566080 567080 
57 05 80 571080 


121816 121916 
124280 124380 


High Low dose Owe Ophf 


PORK BELLES tCMER) 


19% 

l*» IN, 


EXTRA 

HolngerhK g 2-50 5-7 5-12 


MOTMfc bxppradawe amooat per 
tewe/ADR; p -poyctael» Crew dl no Itefc 
B-Boatsry; o-qumterty; s-sMb-aoiwel 


May 77 911S 075 8982 -1J7 1I9S 

JOT 97 91.70 RJO »87 -U2 2X60 

Aug97 88J0 1650 44X7 -430 863 

Fe&9B 7U9 7620 072 +0X5 799 

Mar 98 7180 7140 7U9 +099 > 

M0»9B 8189 *!SJ0 2 

Est soles 4898 MOT’S, sates US 

Men’s open In! 4910 off W 


Financial 

UST.HLLSCCMER) 

siR+Won-etaoiWineL 

Jon 97 9*49 M58 9459 — 401 47J1 

Seo 97 9U2 9*S 903 3X79 

Dec 97 94X8 BO 

Est sates na M orfisotes ZD 

Mon’s open U lexOO up 81 


6M09m EURQMARK OJFFCJ 
QMlnttan-paollOOpd 

9626 96J6 9676 +001 in a 

is? 9675 + CLtn TxSu 

«J4 «J4 9674 +081 vSz 

^ 5S3 us H 

S 1 is Biaiss 

iSm + ain 74430 

SS 95 - 50 * tun mot 

JBW9 9S2S 9622 9624 + fiffl gc-Sn 

22?* +M1 3041b 
iB-lRJS sates 104X76 


*MONpl 5TBHUHG tUFFE) 
WMOB-^OTlOOpa 

a M S5 SS-! 


D0C97 2485 1375 2395 1438*1 

BAtates NA SAon'S.JOTtS 34X46 • -1 

MtefsopanM mm up 4209 

UNLEAM97 SASOLJNE (NMBq 
4LOoooal onunr sol 
•J pn aa 61X0 6145 -l 2 2MU 

w ojo a .w 6i.io ■ — 8xn lejar 

(1X0 6Q.n £025 -471 Oja 

cSS SS 2-™ ■— AX6 600 

Seo 97 sup Sits stjA —0X1 3X46 

0397 5690 SUH S62S ^437 T 35 

EBytes BA BtaftS »XM 
Man^apenM 181X73 up 984 ’ 
DA50ILQPE) 

UAdohara per metric ion- tots a (100 tons - 
"£tv J 1 57-92 16380 16175 -^40 22493 

l 6 * 50 JMJ5 - lJS i 1 ’ edf 

^77 }«80 16680 16625 -T40- 71183 
1 67 J 5 16680 -150 <«0 
SOTJ97 1728017025 17080 -74D 2X94 
S2S, 7240 17280 17280 -140 2.966 

Nov97 17150 17340 17340-—L25 911 

DecW 17480 17480 17480 —125- 7X35 

Jten9B N.T. N.T. 174JS — 1J|5 1293 

1273* tSrteKla0S °’ °P onfat -' 51334Dp 
BRBNTOU.OPE} 

UX.dotkws per barrel -lots of 1 X 00 barrels 
***£ IMj 174S 77JPH»35 TWf 

J^r77 18X5 1886 1889-034 38X75 

’K 1 18 * 18 '-020 — 633 1XW 
5ff77 18J4 1849 18L2X-034' 82» . 

0d?7 1&74 18X2 1846-4U * .1 

*<*97 1875 1660 1628 —033. 4 

DTC97 1673 1635 1829 —042 6134 ■ 

■tense 1670 1824 1827 —033 7X22 

^^gtMBKSMao. open WilA395ofi 


&xxr. .• 
P-Stlirii-;:-. ;. 

a ?ejr. - 
cjfai 

ssijsw.:- 

jui, *>-.i ..." \ 

fc aid t- . . 
•• 

fi •' 

^forfeT.r. ' 

h'aluecf ^ 

%stGdE-: P ;. . 

’““fi rjce-ii. - 

jaik * 

‘SSbhS/.C 
often ... 


Hiiar I 

■-:rv- j-.rite t Wli . W 
. ,;jt . v dm 
•tr.. -•• * JSkV 

. =! ; * *ii»- • ****-■ 

i*n ii 


• ■ V- 

te.-h* 

'• :»•»!*. p"*tA»r 

j-l-sTi 1 . 1 ■» Z W 

’• Jrrtvtii 


1 3 lnu ri aV.' ; : ? ' 


-i' JHJv.t 
•• i?KKU tfc- . 

I'.'urrrvtitti . 
* -•••. .V - j : ;iw>. 

i-:.-! rtf 
• i .a-<$drOT-r,utig 
»* ; Ti. 

■ • Isi. i* f:>isicA^ji 

Sv^tjR. 

J?ir 


w *i-. . ■ . 


f! ®SS:.i 


.1 A.m. m 

“b.-JijfptS V.HM 
v+:e 1 Ihojitii 
-- ; i..s; ,ii;r i it* ifi 


5 YIL TREASURY (CBOT) 

SieaoBosrm-pffAMmssr iw«a 

Jun 97 W4-33 10W5 166-36 +07 237X42 

50097 104-11 14J-H 104-16 + 04 1JO 

Dec 97 m-£3 18 

EsLsOTM NA MarrtLSOTes 21427 
Men's open rt 239401 oft 113 


«« SSI 

0^7 m> 9289 9287 Undl 

Mor96 9271 92M tiji iw* 

w 1 U ££ di 

f»*-9P9hIbl 4SfjB2 an me 


AU TV, 
7% »V 4 


3W 37ft 
«% 13% 


13 % 11 % 

TP- 11% 


3»« TV, 
Hi 17% 


»■ , 1% 

V 3% 


a* 

7* 7, 


2" i H% 

V-t 2S-1 


16% 14% 
10 1 


18% 17% 

9% »% 


U'l 11% 
16% IS% 


S? 51 


iiv. ii 

17 IJ 1 * 
10’-. IC% 
Ii , li% 


Stock ToMes Explained 

Sales figures om unofldd. Ytaoty highs sm ions reflect toe piwioos 52 ecOs plus the ament 
weeKbitfiiotttieM &tnOTft te dm- Vnwreo tp aqrilochiftifclentianiOun&igbi 25 percent or mree 
has Iven paid toe yeas Ngi+iaw iange aid dhklHidae OTmm for ha new stecks only. Unless 
otherwise noted rotes of Mfends are amwl astonemeftte hosed on Be Uffst dedmfien. 
a - dMdend OTso extra (d. b - ontnwl refe of dtidend plus stock dtv’utend. c - llquiitollng 
dividend, oc • PE weeds 99x*d - colled, d -new yearly law. dd - loss in me last 1 2 months, 
o - dfvidefld dBdored or paid In preceding 12 months. ( - annual race. Inaeaxtl m last 
dedamltoa s - dMdend to Canada fundb subbci to 15% rtoft-resldence fax. i - dhridend 
declared after jpflt-up or Slock dMdend.l- dividend poW this yea. omitted deterred, or no 
action token at totes! dMdend meeltoff. k - dfndend declared or pete lbs year, an 
occumutottve issue with dMdends in arean. m • amuai mte. reduced an tost dectofafna 
ii - rww Issue to the post 58 Yteeks- The WplHcjw lanpe beplns with toe start ol boding, 
rtd -ngdd u y d eff« er y.p-lniliol dl vhlend.nnnoaHaie unknown. P/E - pi toftv Atf rtotoSiBlIo. 
a-dose«»«»drmrtuOTfimd.r-dividefiddecJorad or paid In preceding 12 month* Plus stack 
dnidend. S - siadc spftt OMdend beptos t*»> dote at spW. sis - sates. 8-dMdend paW In 
stodt in preaedtoa 12 morths. esffraated cash value an ex-dMdend arex-datribuffon date, 
u- new vMrty Wgh. Y-badtog hotted, vl. in bankruptcy or reeeiversMp or being reoipanlRd 
under the SartidVpJcy Act or searrflies assumed bysuchosmpanles.wd- when tfsMiJtrteit 
wl - ■twn fssoed' ww ■ Wtm warrants, x - eit-dMdend or ex-naMs. sffs - es-dbtnmrtlon 
aw . wllhoul 9wm«i*s. »- ex-«»m»end and soles in ML yM - yield. 2 • soles to lufl. 


COCOA 4NCSE7 



lOnwWierwH- 1 Mr <oti 


May 97 

1429 

1407 

1425 

JOT 97 

1416 

)4» 

14W 

Seo 77 

U76 

US6 

1472 

Dec 97 

m 

1477 

W94 

MprW 



1517 


N YU TRBHSURT (CT0T3 

*100X00 Drift- ptLlSrafe or iMoa 

JOT 97 KB-J1 KB-24 10MB +6? 386412 

Sep 72 IBS-16 IdMJ IK-18 + 86 Mwi 

Dec 97 BS-fll 105-01 1Q5« +01 lJM 

Ed. sates NA Moo's.*'** 32,115 

Men's seen inxte aft mi 


Stock Indexns .... 

S? gs ss ;!S n ® 


Mcr58 1517 ♦» 19,70 

E9. sates 4.734 Mm's, iotas *446 
Man'sapHiM 9X180 qft 323 


CQFFSCMCSEt 
37JDO S»- COOMT fc. 

May 97 31 540 21050 31140 -175 4856 
jW 9? 19382 188 SO 18845 -570 IMS 
Seo 97 T7150 170X0 170X5 —445 4X27 

Oec*r 15540 1S2JB 15248 -340 <367 

E».io»a 5423 Mon's. s<*i 1L770 
Mon's open irrt 30471 oft ids 


U5 TREASURY BONDS (CTDT1 

apMMUbWI A 3MSM JOB pa) 

Jun 97 1S7-n 1B-T7 108-84 +15 451 JQ 

Sesto 167-17 l»-« 107-22 ♦« Vjn 

Ok 97 106-36 4.W 

MOT-91 106-16 jjpq 

ESLSOTH NA MOTTS. Ides 157X26 

Mon's ooOTikrt 497X37 oft <234 


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PAGE 15 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, APRIL 23, 1997 


ASIA/PACIFIC 


U S. Group to Buy 
Victoria’s Loy Yang 
In $3.8 BiUion Bid 


Ca^dUIrr Our SatfEnreDfepacfer 

MELBOURNE — A group fod 
by the U.S. company CMS Energy 
Corp. said Tuesday it would pay 4.9 
billion Australian dollars ($3.8 bil- 
lion) for die Loy Yang A power 
station in the largest sale of a single 
government asset in Australian his- 
tory. 

CMS, which is based in Dear- 
born, Michigan, will take a 50 per- 
cent stake in Loy Yang A, a 2.000- 
megawatt power station and mine 
for brown coal, or lignite, in Vic- 
toria, a state in southeastern Aus- 
tralia. NRG Energy Inc., a subsi- 
diary of Northern States Power Co. 
of Minneapolis, will take control of 
25 percent. The remaining 25 per- 
cent will be owned by Horizon En- 


ergy Australia Investments Ltd. 

The sale of Loy YangA. whi 
considered the most efficient dec- 


tricity generator in Australia, comes 
as private power generators rush to 
enter Australia's emerging compet- 
itive energy market. 

The [sice of the 10-year-old sta- 
tion represents more than 14 times 
Loy Yang’s projected earnings be-' 
fore interest, tax and depreciation of 
335 million dollars. 

The relatively high price is jus- 
tified in view of the potential growth 
of the industry , high cadi flow and 
the relatively risk-free nature of in- 
vesting in Australia, said David 
Scaysbrook. managing director of 
NRG Australia Ltd. . 

“It 's a good asset.” he said * ‘The 
cost base is low and investing in 
Victoria, Australia, has a lot less risk 
than some other places.” 

Loy Yang A is one of several 
stations in Australia’s Latrobe Val- 
ley, one of the richest areas in the 


world for brown coal deposits. 

Victoria is . die first Australian 
state to sell its utilities to private 
owners and to introduce competi- 
tion into its electricity market. Other 
states, however, are also shaking up 
their power companies: New South 
Wales has begun to revamp its state- 
owned market, Queensland has 
some privately owned utilities, and 
South Australia is also introducing 
some chang e to its markets. 

In addition, as a first major step in 
the development of a free market in 
electricity. Victoria and its northern 
neighbor. New South Wales, will 
merge their markets next month. 

with the Loy Yang A sale, the. 
overall proceeds from Victoria's as- 
set-sale program are expected to rise 
to 18 J5 billion dollars. 

The government has already sold 
five electricity-distribution compa- 
nies and two generators. In addition, 
it plans to sell its electrici ty -■ trans- 
mission network as well as more 
electricity assets, including the 
state’s transmission grid, Power- 
Victoria. The state plans to use the 
money to reduce its debt and im- 
prove its credit rating. 

In the Loy Yang sale, the in- 
vestors will finance the purchase 
through a mixture of debt and 
equity. The Victoria government 
will receive total proceeds of about 
4.75 billion dollars from the sale. 

CMS and NRG won the bid 
against two rival consortia led by 
two other U.S. companies. Amer- 
ican Electric Power Co. of Colum- 
bus, Ohio, ami AES Coro, of Ar- 
lington, Virginia. Alan SrockdaJe, 
the Victoria treasurer, said the 
CMS-NRG bid won purely on 
price. (Bloomberg, Reuters) 


Dark Side of Red - Chip Chains 

Operating Profit Slumps at Some Favored rhiwg Firms 


By Philip Segal 

Special 10 the Herald Tribune 


HONG KONG — When the most popular share in 
the best-liked sector of the Hong Kong stock market 
boosts earnings 109 percent, well in excess of ana- 
lysts’ expectations, could this be anything but good 
news? 

The answer is yes for anyone concerned about the 
company's actual profit margins. 

While China Resources Enterprise LtcL's bottom 
line posted an impressive gain, it followed the same 
pattern as most of the ‘'red-chip” stocks so far in this 
earnings season. 

Red chips are top-ranked 
Chinese stare company subsidi- 
aries that are listed and incor- 
porated in Hong Kong. These 
coveted companies are growing 
at the speed of light by buying 
new businesses from their parent 
companies — even while their 
actual profit margins from on- 
going operations are falling. 

Among the biggest selling 
points of red-chip companies are 
their mainland connections and 
management superior to that of 
other Chinese companies. 

So far, however, “the only 
source of growth in earnings per 
share is financial engineering,'* 
according to one analyst who would speak negatively 
about a red chip, but declined to be identified. 

“Operating efficiency is the thing that no one is 
focusing on. and that they'll have to focus on” once 
the red-chip companies have stopped growing so 
quickly, he added. 

Operating profit at C hina Resources fell 13 per- 

off a 
tina 

Resources made a profit of 596.7 million Hong Kong 
dollars ($77 million) in 1996. It was able to bank the 
income after it handed out refunds to applicants who 
failed to get new shares. 

The same is true at Guangzhou Investment, which 
invests largely in the oversupplied property market in 
southern China, adjacent to Hong Kong. While profit 
rose impressively in 1996 as a result of income from a 
spin-oft, operating profit feD 17 percent. 



Source: Bloomberg 


wpvmuiig win ut vuiuu ivv iwii i ^ pv 

cent, but the company made money by spinning oft 
subsidiary that was heavily oversubscribed. Chit 


Concerns about the ability of red-chip managers to 
improve on their assets is not new. 

As the red-chip craze took hold late last year, the 
head of China research at HSBC James Capel. Eliza- 
beth Cheng, said that out of 50 red chips she had 
surveyed, only three had improved their operating 
margins between 1994 and 1995. 

This year, a food wholesaler and retailer, Ng Fung 
Hong, was one of the rare exceptions. Earnings rose 
20 percent, to 363.1 million dollars in 1996. while 
operating margins also showed improvement, rising 
23.7 percent. 

But the problem for shareholders in the long term 
was that the company issued so many new shares last 
year to fund acquisitions that earn- 
ings per share were up by less than 
a tenth of a percentage point. 

Nevertheless, many investors 
and fund managers say that while 
red chips are less than transpar- 
ent as investments, they seem 
destined to rise for now. 

Many say they believe thai 
there is Chinese money behind 
the red-chip mania, with Beijing 
keen to put on a show of con- 
fidence before Hong Kong's 
handover June 31. But such spec- 
ulation only fuels the stocks' rise 
even more. 

Indeed, red chips command 
the rapt attention of investors. 
Last month, Gitic Enterprises Ltd., a property de- 
veloper and trader in building materials owned by 
Guangdong Province, proved so popular in its initial 
public offering that it was oversubscribed 900 times, 
a Hong Kong record. 

Peter So, an analyst at Schraders, said he thought 
red chips had already put doubts about management 
quality behind them. In the lean years of 1994 and 
1995, at the height of China's austerity measures, red 
chips were often able to maintain earnings growth 
while other Chinese stocks plunged. 

Now. the argument goes, as China loosens up on 
credit, corporate China will benefit. 

Even those who figure there is value in red chips 
concede some of this rally has been overplayed. With 
price-to-eamings ratios as high as 56, some of the red 
chips, according to Charles Cheung of Jardine Flem- 
ing, are “a little too expensive.” 


IHT 


Bloomberg News 

MANILA — Pilipino Telephone Coip. said Tuesday it 
would sell 20 percent of the company to Philippine Global 
Communications Inc. for 5.17 billion pesos ($196.2 million). 

Pilipino Telephone, or Piltel, the Philippines' second- 
largest cellular phone company, said Philcom would buy 
258.25 million new shares at 20 pesos each, a 40 percent 
premium to the market price. Piltel shares fell 25 centavos on 
Tuesday, to 14.50 pesos. 

As part of the agreement, Kltel received an option to buy 20 
percent of Philcom for an.undisclosed price during its initial 
share sale later this year. 

After the sale is approved by the Sec u rities and Exchange 
Commission, two Unicom directors, Roberto' ^Ongpin and 
Mario Locsin. will be given seats on Piltel’s board. 

“The alliance creates a formidable team having the nec- 
essary resources to become the country’s second-largest pro- 
vider of telecommunications services,” the companies said. 

Such a cross-ownership agreement brings together a lead- 
ing cellular phone operator with Philcom, the country's 


second-largest provider of international calling services, cre- 
ating what is known in the industry as a gateway. 

Piltel and Philcom are building on a partnership that began 
in February. The two companies signed an agreement to 
explore ways of sharing facilities and cutting the cost of 
installing phone lines on the southern island of Mindanao. 

Government regulations require cellular phone companies 
such as Piltel to install 400.000 land lines. Carriers licensed to 
provide international calling services must also install 
400.000 lines. 

Some of POtel’s service area overlaps that of Philcom 's 
subsidiary. Major Telecoms Inc. Piltel said it expected to 
lower costs by teaming up with Major Telecoms in installing 
those lines. ' 

“Now we have access to agateway without having to put up 
another 300,000 lines,” said Deborah Anne Tan, investor 
relations manager at Piltel. “It makes sense.” 

The capital infusion will help Piltel as it prepares to take on 
additional debt in 1998 to pay for its land-line expansion and to 
upgrade its cellular phone to digital technology, analysts said. 


“It does relieve their debt burden,” said Melanie Santos, an 
analyst at HSBC James Capel. “The downside is an obvious 
dilution in earnings.” 

Alexis Cabel, analyst at Angping & Associates Securities 
Inc., said Piltel would benefit in the long run from raining 
access to an international gateway that would offer it links to 
the Internet. 

■ Higher Food Prices Bolster Profit at Purefoods 

Purefoods Corp.. a unit of Ayala Corp., said Tuesday it 
posted a net income of 19.3 million pesos for the first quarter 
of the year, up from a net loss of 108 million pesos in the 
comparable period last year. Reuters reported. 

Purefoods’ president, Renato Mouteraayor, said after the 
company's shareholders’ meeting that the increased earnings 
for the first three months of the year followed higher sales of 
processed meat and flour and higher chicken prices. 


NOMURA: To Halt Slide, Top Officials of Securities House Quit 


Continued from Page 1 


vestment research division at Yam ai chi 
Securities Co. “But it is still gray. Now 
holders’ equity makes it by one measure they are trying to clean the water to make 
the world's hugest securities company, it clear again. But whether you will be 
' ' ’ able to dnnk the water again, I just don’t 

know.” 

Nomura suffered a similar scandal in 


has been plagued for two months by a 
scandal in which it admitted it trans- 
ferred profits to compensate losses for a 
client linked to Japan s underworld. Last 
month, regulators raided Nomura’s of- 
fices and the homes of company ex- 
ecutives to gather evidence. 

Since the disclosure, Nomura has 
fallen from the market leader to No. 4 in 
the value of securities it has traded on the 
Tokyo Stock Exchange. Its market share 
in bond underwriting has dropped to 2.4 
percent so far this year from 14 percent 
for the last fiscal year. 

Such prominent clients as Tokyo 
Electric Power Co. have shied from in- 
cluding Nomura as a lead underwriter 
v for fear of investor backlash. As a result, 
/Nomura recently has been shot out of 
virtually all lead bond underwriting 
business by Japan’s top companies. 

American companies, like California 
Public Employees’ Retirement System, 
cut off business with Nomura, as have 
such government institutions as the Ja- 
pan Development Bank. 

•’Nomura was like spoiled water, the 
water was black, and they changed some 
of it, so it became gray,” said Hiroshi 
Masuda, deputy general manager of in- 


1991 in which it compensated favored 
clients for losses, and me financial com- 
munity bad assumed the company had 
uprooted the practice. The harsher re- 
action of the financial community this 
time, however, reflects the growing role 
that the market mechanism has assumed 
in imposing financial discipline and 
scrutiny in Japan. 

Companies seem to be paying more 
attention to shareholders, and the current 
Nomura scandal touches them directly. 
Nomura is said to have illegally funneled 
38 million yen in profits from its pro- 
prietary trading account into the account 
of a real estate agent linked to a former 
sokaiya. or corporate extortionist. 

On Monday, in another bow to share- 
holders,. company directors of the 
Takashimaya department store group 
agreed to accept personal responsibility 
and pay 170 million yen ($1.4 million) in 
damages to the company for payoffs to 
sokaiya gangsters. The agreement was 
part of an out-of-court settlement of a 
class action suit by shareholders. 

Sokaiya extort money from compa- 


nies by threatening to disrupt sharehold- 
er meetings, and paying off sokaiya is 
illegal. 

“In the national trend of reform.” 
said a Japanese executive at a small 
securities company, “the entire business 
world is trying to make a break from the 
old Japanese way, and what is partic- 
ularly conspicuous is that companies are 
starting to be highly conscious about 
stockholders. The Nomura incident in- 
volved sokaiya, which the public detests 
the most. Thai is why this case became 
so big.” 

Nomura is expected to report losses 
— analysts estimate about $2 billion — 
on Thursday when it announces results 
for its fiscal year ended March 3 1 . partly 
due to huge losses at a subsidiary, 
Nomura Finance. Nomura executives 
worry that the blot on the company will 
drive away talented employees, and a 
growing number are already sending out 
rfesumfe, industry executives say. 
Younger directors and middle managers 
have also voiced criticism, and so Tues- 
day’s management shuffle seems as 
much aimed to appease employees as 
clients. 

The stock market rallied on the news 
of Nomura's mass resignation, lifting 
the company's stock price by 70 yen to 
1 .370, up from this year’s lowest level of 
1,100 yen a week ago. 


Hanoi Plans to Sell 
First Brady Bonds 


PRESS: A Russian Newspaper Loudly Defies Its Big- Oil Boss 


Continued from Page 13 

papers. "I know that some 
commercial, financially 
strong organizations help or- 
chestras survive in Russia,” 
he said, * ‘but 1 cannot believe 
they would appoint the chief 
conductor and dictate to him 
the repertoire of their lik- 

m W struggle for Izvestia 
has sparked interest among 
the liberal intelligentsia, but 
one journalist at the news- 
paper said tiie protests were a 
bit naive, since Lukoil had 
legitimately gained control of 
its shares and the newspaper 
needed outside investment to 
survive. 

Izvestia had a Soviet-era 
circulation of 10 million but 
fias seen that dwindle to 
509,500. Still, the paper has 
been a champion of Russia’s 
transition to a frte-maricet de- 
mocracy. and it has a repu- 
tation as one of the few papers 
that shuns the practice of 


selling news articles to secret 
sponsors. 

Last Dec. 7, Lukoil's pen- 
sion fund acquired the 19.9 
percent share of Izvestia from 
a bank. At the time, the oil 
company said it had no desire 
to influence ibe editorial 
course of the paper. 

Igor Golembiovsky, the 
editor in chief, said in a recent 
interview that Lukoil was ex- 
pected to invest in Izvestia’s 
expansion plans, which in- 
clude printing 22 regional 
editions. All national daily 
newspapers are losing circu- 
lation in the provinces be- 
cause readers arc tur nin g 
more to local outlets. 

Izvestia has been a critic of 
prime Minister Viktor 
Chernomyrdin, and earlier 
rh is month republished an ar- 
ticle from Le Monde, a Paris 
daily, suggesting that he had 
secretly amassed a $5 billion 
fortune from Gazprom, which 
he once headed. His spokes- 
man denied she charge, and 


the article drew an angry re- 
sponse from the president of 
Lukoil, Vagit Alekperov, 
who suggested the oil com- 
pany might dump its shares. 

The newspaper launched a 
barrage of complaints about 
Lukoil, saying the company 
had decided to make “a rad- 


ical change in the leadership 
of the paper and in its political 
orientation.” A Lukoil 
spokesman refused to re- 
spond. 

Rather than sell its stake, 
however, Lukoil was buying 
up more Izvestia stock ana 
now owns 41 percent. 


Bloomberg Nens 

HANOI — Vietnam plans 
to sell its first Brady bonds as 
soon as May to help settle 
$900 million in defaulted 
loans from Western banks, a 
central bank official said 
Tuesday. 

Such bonds, which use 
U.S. Treasury bonds as col- 
lateral. would clear the way 
for other international bond 
sales. Once it settles old 
debts, the government plans 
to sell Eurobonds backed 
only by its promise to repay 
investors. 

“We are preparing for a 
Brady bond issue in May or 
June.” said Nguyen Doan 
Hung, a director at the State 
Bank of Vietnam. 

These bonds, issued by 
Mexico and other developing 
countries to help pay off bank 
loans, will be listed in Lux- 
embourg, he said. 

That Vietnam can even 
consider tapping the interna- 
tional markets is a testament 
to investors’ search for higher 
yields. 

If the government manages 
to sell Brady bonds — named 
after Nicholas Brady, a former 
U.S. Treasury secretary — it 
would show it is serious about 
squaring its finances. 

That, in turn, would en- 
courage fund mangers to buy 
other Vietnamese bonds and 
might enable Vietnamese 
companies to sell debt them- 
selves. 

•‘They’ve come a long 


way,” said Christian Voss, a 
director at Merrill Lynch. 

■ Kazak Bond on Hold 

Failed talks between 
Kazakstan and Japanese un- 
derwriters on a bond issue 
show the difficulties that 
former Soviet republics face 
when trying to raise funds in 
yen, according to Reuters in 
Tokyo. 

The underwriters are not 
only worried about the new 
republics' low credit ratings 
and high political risks, but 
are also about negative im- 
ages in the minds of Japanese 
investors, they said. 

Last week, the head of 
Kazakstan's central bank, 
Uraz Jandosov, said the bank 
might shelve plans to issue a 
yen-denominated samurai 
bond this summer and choose 
instead another dollar Euro- 
bond issue later in the year. 



IN THE 


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•Sbate.llfflae. 


Tokyo 

Nikkei 225 



Exchange; 
Hong Kong 

Index. 
Hang Seng 

Tuesday 

Close 

1&5SR8S 

Prev. ‘ %■ 

Otoe Change 

12,626.04 -0.36 

•Singapore 

Strega Times” 

2,047.58 

2.037.89 

-*0.47 

Sydney 

ASOrcffnaiias 

. 2,447.60 

2,445.80 

+0.07 

Tokyo " 

f®tfcei225 

18^44,45. 10,551.66 -0.O4] 

| KuateLwnpia'Gompo^te' 

1,120.50 

1.127.60 

-0.63 

Bangkok 

.set ; • 

esi.is 

894.21 • 

•9,44 

Send - 

Composite Index 

687.96 ‘ 

.70085 

-1.81 

TaEps! 

Sjocfc Market index 8*43062 

8,302.25 

+1.55 

Manila 

'PSE ; , 

%e«Ms 

£944.96 

-2.87 

Jakarta 

Conpoetteindex 

. 64624 

642L26 

+0.62 

Wellington 

NZSE -40 ■ . 

2J5&84 

2^5230 

-0.08 

Bombay 

SenaStve Index 

3,800.63 

3,799.79 

+ 0.02 

Source; Teiekurs 


ImcnUMtuI Herald Tribune 

Very briefly: 


Philippines 9 Piltel Sells Stake to Philcom to Forge a Link 


•SACOM, a telecommunications equipment and cable maker 
that is a unit of Vietnam Post & Telecommunications Corp., 
plans ro sell 49 percent of its equity to private individuals. 
SACOM said 240.000 shares would be sold at 500,000 dong 
($42.90) apiece in early June if the plan wins government 
approval. The state will retain a 5 1 percent share. 

• China said it was not seeking preferential terms for entering 
the World Trade Organization, but rather a "balance" be- 
tween its commitments and its ability to honor them. The 
WTO director general, Renato Ruggiero, currently in Beijing 
to maintain the momentum of talks on China's accession, 
called for greater flexibility from China over such issues as 
market access, especially in the services and agriculture. 

• Reliance Industries Ltd., India's largest petrochemical 
maker, said net profit for the year ended March 31 rose 1.4 
percent, to 13.23 billion rupees ($370 million), last year as 
higher demand for petrochemicals offset falling prices. Sales 
rose 12.1 percent, to 87.3 billion rupees. 

• The Finance Committee of Japan's lower house of Par- 
liament approved revisions to the foreign-exchange law. 
which will cut bank profits while saving money for individuals 
and corporate overseas investors. Hie rules, to take effect in 
April 1 998, will allow Japanese individuals and companies to 
bypass Japanese banks when exchanging currencies. They 
also will be able to deal directly with foreign and Japanese 
banks overseas, including opening up yen accounts. 

• Japan's five major steelmakers reported that combined 
capital investment mis year will fall to the lowest level in 10 
years. Overall investment by the steelmakers will total 353 
billion yen ($2.82 billion) in the year ended March 3 1, down 
from 419 billion a year earlier. 

• Japan's deputy minister for international trade, Hisashi 

Hosokawa. seeking to soothe U.S. fears over a potential surge 
in Japan's trade surplus, said, "I do not think that the present 
auto export trend will continue in the same manner as we have 
seen in the first quarter of the year. ’ ’ Reuters, afp. Bloomberg 



COUNTRY/CURR^ICY 

2 MONTHS 
NEWSSTAND 
PRICE 

2 MONTHS 
OFFER 
PRICE 

W5COUNT 

OFF 

COVER PRICE 

AUSTRIA 

ATS 

1.450 

650 

55% 

BHGtUM 

BEF 

3.380 

1,350 

601 

DENMARK 

DKK 

7B0 

360 

54% 

FINLAND 

HM 

624 

310 

50% 

FRANCE 

H= 

520 

210 

60% 

GERMANY* 

DEM 

182 

n 

60% 

GREAT BRITAIN 

£ 

47 

22 

53% 

GREECE 

DR 

•1B.200 

9,100 

50% 

IRELAND 

IRS 

52 

26 

50% 

ITALY 

n 

145.600 

58,000 

60% 

LUXEMBOURG 

LFR 

3,3800 

1,350 

60% 

NEn«LAM3S 

NLG 

195 

78 

M% 

NORWAY 

NOK 

832 

390 

53% 

PORTUGAL 

ESC 

11,960 

5,000 

58% 

SPAIN 

PEAS 

11.700 

5400 

57% 

SWEDEN 

5EX 

832 

350 

58% 

SWITZERLAND 

CHF 

166 

66 

60% 

ELSEWHERE 

S 

— 

SO 

— 


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ot 0 1 »84 85 W or 1069| 971 J 631 1 . 


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EVTEKNATTONAL HERALD TRIBUNE, WEDNESDAY, APRIL 23, 1997 


NASDA 











































































































INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, APRIL 23, 1997 


PACK 17 




SPONSORED) PAGE SPONSORED PAGE 


BY SPAIN: Museums 


Openings and Renovations 

New and newly revitalized museums — cdl by Spain — await art lovers. 


I a the artistic rivalry 
between Spain’s two 
major cities, Barcelona 
and Madrid, the latter has 
always bad a distinct 
advantage - the Prado, the 
I most venerable member of 
the “golden mile” trio that 
also includes the Thyssen 
collection and the Centro 
Reina Sofia 

With the 1995 opening of 
the Contemporary Art 
Museum and the simultane- 
ous reopening of the 
Catalan National Art 
Museum, Barcelona is 
catching up. In Madrid, 
meanwhile, the Prado is 
getting a partial face-lift. It 
deserves more. 

Spanish Guggenheim 
Madrid and Barcelona are 
not the only Spanish cities 
with the means to attract art 
lovers, however. In the 
northern industrial capital 
of Bilbao, the Guggenheim 
Museum of Modem and 
Contemporary Art is so 
new it hasn’t opened yet 
Billed as the museum for 
the 21st century, the 
Spanish Guggenheim, 
designed by U.S. architect 
Frank Gehry, looks like a 
giant metallic flower. 

Over a 20-year period, 
the museum will show 
works from the vast 
Guggenheim collections in 
New York and Venice, as 
well as its own acquisitions, 
currently being purchased 
with its $43 milli on budget 
The museum is sched- 
uled to open on Oct 3. 

Barcelona 

Among Barcelona's post- 
Olympic unveilings is the 
Contemporary Art 

Museum, designed by 
American architect Richard 
Meier. The white, glass- 
fronted building, with its 
innovative sources of natur- 
al light, is more impressive 
than the contents, which 
change every six months. 
Still, you can almost always 
count on seeing works by 
Miquel Barceld, Luis 
Gordillo, Antoni Tbpies or 
sculptor Xavier CorbenS - 
although not a lot of any of 
them - and the spectacular 
building is worth it all. 
Speaking of worth, it cost 
$35 million. 

Barcelona's Catalan Na- 


tional Ait Museum has a 
carefully restored perma- 
nent exhibition of 12th-cen- 
tury Romanesque frescos 
(the color quality is excel- 
lent) and woodcarvings 
from regional Ca talan 
churches mat is more than a 
match for its breathtaking 
surroundings high on a trill 
in the barrio of Montjuic. 

The 1929 National 
Palace in Barcelona has 
undergone a seven-year 
renovation by MU an archi- 
tect Gae Aulenti (who also 
renovated the Musde 
d’Orsay in Paris). The work 
still is not finished, 
although the museum 
opened more than two 
years ago. 

The Prado is modernized 
Few exhibits are planned 
this year for the Prado, 
Madrid's premier museum, 
because of extensive 
repairs, according to a 
spokesman. The neoclassi- 
cal 18th-century building is 
getting a new roof, finally, 
after years of shocking 
reports of leaks in inappro- 
priate places like the 
Velrizquez room. In addi- 
tion, upper-floor adminis- 
trative offices will move to 
neighboring locales to 


make room fra: new hang- 
ing space and temporary 
exhibition halls. 

Tbe scope of the renova- 
tion , however, has been 
drastically reduced: The 
original plan called for a 
budget of $150 million, 
expansion of current 
premises and an intercon- 
necting tunnel system, 
while the actual moderniza- 
tion, to be finished in tbe 
spring of 1998, will cost 
only $11 million. 

There are 3,500 paintings 
in foe Prado's Madrid col- 
lection, and 1,500 are on 
view. The rest are in vaults 
open to specialists only. 
Optimum use of space 
would accommodate an 
^additional 600-700 paint- 
ings. the spokesman says. 

Founded on foe private 
collections of Spanish 
kings, tbe Prado reflects foe 
Hapsbmgs' and Bourbons’ 
traditional tastes: national 
masterpieces by artists 
including Goya, Vel&zqyez, 
Zurbarfn, El Greco and 
Murillo.as well as works by 
Titian, Tintoretto, Rubens, 
Bruegel and Bosch. 

TbeTTiyssen collection 
The Thyssen-Bomemisza 
Museum opened in 1992 to 


Spring and Summer Shows 

BARCELONA 

Contemporary Art Museum. TeL: (93) 412 0810. 

• Josep Lhris Sert Architect in New York. Through 
June 29. 

MADRID 

Prado. Tel.: (91)4202836 

• Los 5 Sentidos y el Arte ( Tbe 5 Senses and Art). 
Through May 4. 

• Cathalnnia (Medieval Catalan Paintin g). Through 
June 8. 

Museum Thyssen-Bomemisza. TeL: (91) 420 3944. 

• La Anunciacion del Greco: B Ciclo del Colegio de 
Maria de Aragdn. April 29-June 29. 

• George Grosz: The Berlin Years, 1 893-1933. May 28- 
Sept 14. 

Centro Reina Sofia. TeL: (91) 467 5062. 

• Robert Mofoerwefl. Through May 4. 

• Lipchitz (1891-1973). May 20-Sept. 9. 

To call from outside Spain, replace the first 9 by 34. 


“By Spain: Museums* 

war produced in its entirety by the Advertising Department of 
the International Herald Tribune. 

Writer: Barbara Barker in Madrid. 

Program Director: Bill Mahder. 


Win a week for two 
in Spain ! 

Simply find the answers to these two questions 
relating to the text on this page: 

1 . What museum houses Picasso’s 
“Guernica"? 

2. Where is the new Spanish Guggenheim 
located? 



Once you have the answers, send them to us with the completed 
coupon below for a chance to visit Spain. The first three entries drawn 
with the correct answers will be the winners. 

(Entries must be received no later than May 16, 1997.) 



The Contemporary Art Museum, by architect Richard Meier, opened in Barcelona m 1995. 


house the collection of 
Baron Hans Heinrich 
Thyssen-Bomemisza - 715 
paintings dating from foe 
I3fo to foe 20th century. 
Before foe baron’s collec- 
tion was sold to Spain for 
$350 million in 1993, it was 
considered the second- 
largest private art collection 
in the world (the Queen of 
England's is still the first). 

At the time of the muse- 
um’s opening, the baron 
said, T started collecting 
after the war, beginning 
with German Expression- 
ists, then European 
Modem. American 19th 
century, American Modem 
and Russian avant-garde. 

“My pictures are a com- 
plement to the Prado and 
vice-versa... Just by cross- 
ing a plaza, you can see foe 
whole spectrum of 
European and American 
developments. Artistically, 
it’s an ideal situation." The 


museum is located near tbe 
Prado in foe early -19th- 
century VUlaherraosa 
Palace, which was renovat- 
ed by top Spanish architect 
Rafael Moneo. 

“It’s like an American 
museum," said the baron, 
“completely modernized, 
with high-tech educational 
services and conference 
rooms. It's a live museum, 
not a mausoleum where the 
pictures hang and get dusti- 
er and dustier." 

Centro Reina Sofia 
The nearby Centro Reina 
Sofia, Madrid's modem art 
museum, reopened in 1991 
after a decade-long renova- 
tion and a $58~ million 
investment Tbe museum’s 
modem amenities include 
computerized lighting and 
climate control updated 
security systems and out- 
door elevators. 

“Guernica,” one of this 


century's most significant 
works, has been in the 
Reina Sofia since 1992. 
when it was moved from 
foe Prado despite Picasso's 
well-publicized wish that it 
remain there. Currently, foe 
new Guggenheim museum 
in Bilbao is trying to get the 
painting. Picasso painted it 
as a protest against the 
bombing of Guernica, a 
northern Spanish town, 
during the Gvil War. 

Highlights of the Reina 
Sofia's permanent collec- 
tion include Salvador Dali's 
“The Great Masturbator" 
and Joan Mirtj’s “Woman, 
Bird and Star." Of special 
interest are two recent 
acquisitions by American 
Abstract Expressionist 
Robert Motherwell and a 
group of seven paintings 
and drawings by Picasso 
from the 1930s that were 
bought by the museum in 
February. • 


Also Worth a Visit 

Picasso Museum. The key word here is “early” - the 
museum, housed in an impeccably restored 14th-cen- 
tury Gothic palace; covers Picasso's formative years, 
between 1890 and 1899. The star of the 3,600-piece 
collection is a 1957 series of 58 oil paintings that inter- 
pret the Veldzquez masterpiece “Las Meninas," which 
is in the Prado. Barcelona. Tel.: (93) 319 6310. 

Sorolla Museum. Built in 1910, this was the studio 
and home during the 1920s of Joaquin Sorolla y 
Bastida, called the “painter of light" for his landscapes 
and beach scenes splashed with intense Mediterranean 
sunlight The charmingly neglected garden was 
designed by Sorolla. Madrid. Tel.: (91) 310 1584. 

Art Nouveau and Art Deco Museum. Housed in a 
restored palacete (small palace), the museum features 
1300 pieces of glassware (including works by Lalique 
and Emile Gall£), porcelain, enamels, jewelry, paint- 
ings. furniture and one of the most important doll col- 
lections in the world, dating from the mid- 19th centu- 
ry to the 1930s. Salamanca. Tel: (923) 12 14 25. 

Dalf Museum. Very few of Dali's major works are 
here, but the funny-man of tbe Surrealist movement is. 
After his death in 1989, Dalf was buried in the muse- 
um he founded. Figueres. Tel.: (972) 51 18 00. 

National Museum of Roman Art. Statuary, mosaics, 
ceramics and coins, even an excavated Roman street 
based on early remains of Merida, founded in 25 B.C. 
The stunningly tall arches and exposed Roman bricks 
are another aekhetic triumph by master-builder Rafael 
Moneo. Merida. Tel.: (924) 31 93 85. 

Fine Arts Museum. A large group of paintings from 
foe 17th-century Sevillian school, including works by 
Zurbardn and Vhldes Leal. Located in a restored 17th- 
century convent Seville. Tel.: (95) 422 0790 

To call from outside Spam, replace the initial 9 by 34. 



THREE WINNERS! 


Grand Prize; A week n 
Parador DwteQ. Airire 1 
subscription to the HT. 


in for turn next July, staying n a 
byt*ria.PfusaoiBye8r 


theHT. 

Third Prize: Acofleclion of booksabtxXSparifflida 
3-fnofTt}i subscription to the WT. 


RULES AND REGULATIONS 


lj Open to European residents. 

2) Travel must be completed on dates specked. 

3) Entries be received no bter than M^y 16, 1997. 

4) Vdkt on* inhere legal. No pucfaase necessary. 

5) Entries wa not be accepted fom staff and famies of the 
IHT newspaper. TlftESPANA, nor from tteir agents or 
siisiSaries. 


COUPON 


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c om p an i e s. 

Send coupon to: 


or via Efflai : vist-spain©fttcorn 


7 )NocasnaRmia 0 veBpnzes. BfT/Tweapafia Competition, International Herald 

the carreer responses be the mows. 

9) On afl matters, the RiSshert decision is foal. 

10|Theftashertes g^tte rigW«fe 

j xwadowsl 

’SSSSSg^S^tijS^ 

to cancel the conpetmon at any sta^. 





A STOPOVER IN SEVILLE CAN SATISFY A PASSION 
FOR THE MOST PALATIAL OF LIFE’S TREASURES 


The capital of Andalusia is arguably the most beautiful city in Spain. Its hidden 
delighrs and unique character are joys shared by its people and its visitors. 









PAGE 18 


INTERNATIONAL HERALD TRIBLNE. WEDNESDAY. APRIL 23, 1997 


EUROPE 


France Telecom Sale 
Pushed Back to June 


Dutch Banker Bets on Euro 


fiar.Mjfl l-'nmi fteywirik-i 

PARIS — The government said 
Tuesday it would postpone the sale 
of France Telecom SA until after the 
upcoming elections to ensure that 
the nation's biggest ever initial pub- 
lic offering is not hurt by doubts 
about the outcome of the vote. 

The announcement came a day 
after President Jacques Chirac dis- 
solved Parliament and brought for- 
ward elections- to May 25 and June 
1, from March 1998. Individual in- 
vestors can start reserving shares in 
France Telecom from June 5, as 
opposed to May 6 as originally 


Papers Vanish 
In Elf Aide’s Case 


AFX A'nts 

PARIS — Prosecutors are inves- 
tigating the weekend disappearance 
of documents pertaining to the case 
of Andre Tarallo. an executive with 


the oil company Elf Aquitaine SA 
who has already been indicted for 
corruption, a Justice Ministry 
source said Tuesday. 

Documents implicating Mr. Tar- 
aJJo were found in a search in Mar- 
seille last Friday as part of a larger 
investigation into a kickback scan- 
dal implicating Elf Aquitaine. 

Mr. Tarallo has been indicted for 
receipt and abuse of corporate as- 
sets. He is free on bail of 10 million 
francs (Sl.7 million). 

A box of financial records was 
seized from a Marseille interior dec- 
orator . showing that the firm carried 
out 45 million francs worth of work 
on homes belonging to Mr. Tarallo 
in Paris. Corsica and Geneva. 

Sealed and sent to Paris, the doc- 
uments disappeared from police of- 
fices over the weekend and were 
still missing, sources said. 


scheduled, the government said. 

The government did not say when 
the shares would trade on the Paris 
and New York stock markets or 
when the shares would he priced. 

The government said it would 
proceed with the sale of its majority 
stake in the defense-electronics 
maker Thomson CSF. a unit of 
Thomson SA. as scheduled this 
year, allaying investor concerns it 
would be postponed once again. 

The. sale of Thomson SA was 
postponed last year after a panel that 
oversees state asset sales objected to 
a joint bid from Lagardere SC A and 
Daewoo Electronics Co. No date has 
yet been set for the sale of Thomson 
Multimedia, the second principle 
unit of Thomson SA. 

Investors said the decision to 
postpone the France Telecom of- 
fering would allow them to decide 
whether to buy the shares with the 
knowledge of what kind of gov- 
ernment will be in powerfor the next 
five years. Some investors have ex- 
pressed concern about the govern- 
ment’s treatment of minority hold- 
ers in stale-controlled companies. 

"There is not enough clarity in 
France for investors right now," 
said Andre Baladi who heads Andre 
Salad i & Associates in Geneva, a 
mergers and acquisitions firm. 
‘‘The decision to start ihe elections 
now and to postpone France Tele- 
com by a month will clear the air." 

The government aims to raise be- 
tween 30 billion francs and 50 bil- 
lion francs (S5.2 billion and S8.7 
billion) from the sale of a minority 
stake in the telecommunications 
company. It needs the money to help 
prepare for the sale of indebted 
state-owned companies, such as the 
insurer GAN SA. 

Analysis estimate France Tele- 
com to have a total market value of 
about 200 billion francs. 

(Bloomberg. Reuters ) 


l" npiMh. ft rAftfl f>*r. v: 

AMSTERDAM — Wim Duis- 
enberg, the president of the Dutch 
central bank, predicted i iiesday 
that the European Union would 
introduce its single currency on 
schedule in 1999 with at least half 
its 15 members taking part. 

He also confirmed that he is a 
candidate for die job of first pres- 
ident of the European central bank, 
which will control monetary po- 
lice in the era of the common cur- 
rency. 

Separately, Germany’s top eco- 
nomic institutes said Bonn could 
manage to cut its budget deficit 
enough to qualify for the single 


currency if quick action were 
taken to revamp state finances. 

The six institutes said they ex- 
pect European monetary union to 
start on time with a large number 
of countries, including Germany, 
taking part. 

But they cut their forecast for 
growth in Germany’s gross do- 
mestic product this year to 2.25 
percent from 2.5 percent. 

As for the German budget def- 
icit. "we expect a deficit of 3.2 
percent of gross domestic product 
in 1997. falling to 2.9 percent in 
1998." said Willi Leibfrilz, an 
economist with the [fo institute, 
speaking for the group. The 


Maastricht criteria for monetary- 
union call for a deficit of 3 percent 
of GDP, which Mr. Leibfrilz said 
was “still thoroughly possible" 
for 1997. 

The single-currency picture 
may become clearer Wednesday, 
when the European Commission 
releases forecasts for the EU's eco- 
nomic performance in 1997, the 
year for qualifying for die euro. 

Also on Wednesday, the Inter- 
national Monetary Fund will re- 
lease its semiannual report, and an 
official there said the report would 
say that “prospects are good for 
monetary union and the euro." 

( Bloomberg , Reuters. AFX) 


U.S. Crafts a New Policy on Africa 


Washinqivn Post Sen u e 

WASHINGTON — The Clinton 
administration and key congression- 
al leaders are crafting a new trade 
policy with Africa intended to stim- 
ulate greater democratic and eco- 
nomic reform in developing sub- 
Saharan nations through more ex- 
pansive private-sector investment. 

Officials from the White House 
and Capitol Hill have opened ne- 


gotiations on legislation that would 
encourage free-trade agreements, 
eliminate trade barriers in the textile 
industry and provide assistance in 
creating new businesses and build- 
ing infrastructure in Africa. 

In the eves of many critics, the 
U.S. relationship witfTsub-Saharan 
Africa has been focused so much cm 
traditional foreign assistance pro- 
grams that the United States effec- 


SAP Profit Grows 55°/o on Weak Mark 


iTmfnfc - K Ovr Suifl Fntr />_i pu. fo - 

WALLDORF, Germany — SAP AG shares rose 
Tuesday after the German software company said first- 
quarter pretax profit soared 55 percent, fueled by 
favorable currency rates and big contracts in the United 
States and other international markets. 

The company said pretax profit in the first quarter 
rose to 181 million DM (SI 07 million! from 117 
million DM, while sales surged 49 percent, to 1.03 
billion DM. 


WORLD STOCK MARKETS 


High Low dose Pm. 


High Law Close Prev. 


High Low Close Pie*. 


Tuesday, April 22 

Prices In tocal currencies. 
Teiekurs 



High 

lam 

dose 

Prev. 


AEXtedeu 748*9 



Previous: 74492 

ABN-AMRO 

131*5 

129.70 

130.90 

139.90 

Aegon 

13840 

136*0 

136*0 

137*0 

Ahold 

I32JQ 

131*0 

131*0 

131*0 

MjoMJxA 

76170 260.40 2*1-50 

260 

Boon Co. 

4130 

88.10 

90*0 

92 

BotsWcucva 

37*0 

36.90 

37*0 

37*0 

CSMcva 

113 

110.70 

111*0 

H!*D 

Dordtsct* Pet 

365*0 359*0 365*0 

36) 

DSM 

188*0 

185.60 

187.90 

186 

Elsevier 

31*0 

31 

31*0 

31.10 

Forth; Amev 

73.10 

72*0 

77J0 

72*0 


u0*0 

59*0 

m 

60*3 


6480 

64 

64*0 

64 

Hagerneyer 

163 

161 

162*0 

160.98 

Hanekeo 

322.70 

319*0 321.90 319*0 

Hoogcwensinra 

86*0 

84.80 

55*0 

85*0 

riuni Douglas 

157 

155 

156 

15420 

ING Group 

75*8 

7420 

74V0 

74.40 

KLM 

5870 

57*0 

57.90 

57*0 

kHPBT 

38.90 

3BS0 

38.90 

38*0 

KPN 

69.70 

67*0 

68.10 

68.90 

Ned lord Gp 

4SAQ 

4470 

4490 

45 

Nutrioa 

2TO.90 

286 39020 286*0 

CiceGrtnten 

237 

733*0 

23490 23340 

PhiKps EJec 

91*0 

89.90 

91.10 

90*0 


95*0 

90*0 

9450 

95 .ro 

Pon-Jsiad Hdg 

171 *C 

168 

171*0 

168 

Rabeco 

160*0 

15940 

159 *U 

1S9.70 

Radamca 

(A*J 

60.10 

60M 

6030 

Raflneo 

162 

162 

162 

162*0 

Rarenta 

109*0 

108*0 

109*0 

109*0 

Rural Dutch 

343*0 

338 34240 

338*0 

Wnflewcwj 

373L40 368.40 37330 365*0 

Venue inn 

•S 

93*0 

93*0 

95.10 

VNU 

41*0 

4040 

41 

40*0 

y/urien Kt eva 

234.90 230-20 

230.70 

231 

Bangkok 


SET Index: 691.16 
Previous: 69421 

infcSvt 

230 

228 

230 

234 

icngtoV BkF 
t’jura Tnci By 

270 

26J 

268 

266 

37 

36 

36 

36*5 

Pi . iraicr 

328 

324 

324 

326 

SumCcmenrF 

7SJ 

712 

716 

716 

Sicm Cora 3k F 

167 

I6S 

16/ 

162 

Teusroraaiis 

44 

41*0 

41*0 

43*5 

Tw Airwn/s 

4125 

42*5 

42*0 

42*5 

ihrii P jrm 5* F 

177 

173 

173 

173 

UrdCDmrn 

I7i 

160 

169 

172 

Bombay 

5euex 38 Merc 3800*3 
Previous: 3799.79 

Bairn Auto 

930.7 5 

953 

966 

952 


1071 

1058 

1069 

1063 

Htodu;; Pettn 

404 J9SJ0 

an 

T>6 



89*0 

89*0 


ITC 

427.75 

413*5 

415*0 424*5 

MeharssarTei 

2e5 279.75 

783 287*0 

Re-'iance m3 

320.25 

307*5 

308 307.75 

Stale Bk India 

315*0 305*5 307.15 311*5 


2375 

22.75 

73*5 

22*5 

Talc Eng Loco 

396 390*0 3TO.75 389*5 

Brussels 


BEL-JO mdec 219643 


Prewow: 1183*0 


14000 

13800 

14W0 

138/5 


61-0 

MW) 

6160 

60TO 

BEL 

8480 

am 

84» 

8200 

C2R 

3420 

3370 

3395 

3370 

Cimfi 

14300 

14000 

14200 

14150 

1815 

1795 

1795 

1790 


8000 

7960 

7970 

7960 


3615 

3SM 

3600 

3580 


6350 

6180 

6180 

6210 


2635 

3600 

760(1 

2570 

GBL 

5140 

5080 

5140 

5130 

Gen Bcrwufc 

14350 

14150 

14350 

14206 

Krt!3(?raant 

129/5 

12825 

17925 

12875 


12825 

13650 

12750 

12775 


snoo 

4960 

5000 

5000 


9180 

9080 

9160 

9080 

SorGenBelg 

2555 

3025 

3045 

3030 


20500 

20350 

20450 

20350 


15100 

14950 

150/5 

15100 

UCB 

■77950 

96500 

97250 

96350 


Sctering 

SCL Carbon 

Stamens 

Springer (Aid l 

Suetbucker 

Thnsen 

Vena 

VEW 

Vtag 

Vafcswagen 


Low dose 
iM.ro laSJO 
233 233 

91.15 91-20 
1490 0.00 

H72 820 

380 38250 
92*0 93 

500 500 

751 75150 
1057105050 


Bril Petal 
BSkyB 

am Steer 
Brit Telecom 
BTP 


Burmon Cosrroi IOjei 


Helsinki 


HEXCewmil Index: 28Z0.17 
Previous: 2839. U 


Burton Gp 1-51 

Coble Wireless 5*0 

Codbury Sdiw 5 JO 

Carlton Comm 535 

Coaiml Union M7 

Compass Gp 6.75 

Courtaidds 3L33 

Dtaons 5.15 

Etacbocamponenis 420 
EMI Group 12-20 

Energy Group 4.98 


6*0 

7*1 

6*6 

5*3 

5*2 

5*1 

1M 

1*6 

1*6 

435 

4*4 

4*0 

244 

2*0 

2*0 

1103 

I0JD6 

10*8 

1*9 

1*9 

1*0 

471 

471 

477 

108 

114 

117 

5*6 

5*1 

132 

6*1 

08 

6*7 

6*8 

171 

6*4 

3*8 

3*8 

A33 


5.10 S.14 

4.17 4*0 


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Hutitomoki I 
Kemlm 
Kesko 
Merita A 
Metro B 
MeBo- Serin B 
Neste 
MatoaA 
Orion- YMymae 
Outokumpu A 
UPMkym mene 
Velma 


41 4130 
233 73X50 
52.30 53 

7150 71 JO 
7420 14.50 
13B 138.10 
34*0 36-JO 
120 723 

m 309 
1BWJ 19050 
91 9150 
11250 HIM 
87 JO 8750 


EfflenatseOi 
Fom Cotantai 152 

Genl Acckfem ft. 13 

GEC 173 

GKN 9.43 

Otoso weAcoroe ll J2 

Granada Gp BM 

Grand Mel 5.12 

GKE 179 

GreenaBGp 521 

GuTroess 5.79 

GUS 652 


Grand Mel 5.12 

GKE 179 

GreenaBGp 521 

GotaMS 5.79 

GUS 652 

Hoys 5J1 

HSBC HMgS 14.91 

TO 7 M 

irrtpl Tobacco 421 


12 11.79 
4.W 427 

4.15 6.10 

152 151 

B.12 8.02 

3.72 17T 

928 9*6 

1155 11.41 
0 80 623 


BcaRdeutnm 

Bead! Roma 

Benetton 

Oedita itcnano 

Edison 

ENI 

HW 

Gaierau Ask 

IMI 

INA 

Itotoos 

Mediaser 

Mediobanca 

Montedison 

CHret* 

Piirmakji 

PtH6 

RAS 

Rou Banco 
5p«*o Torino 
Slot 

Telecom Italia 
TIM 


4410 4360 
12W 1175 
22401 22100 


PwgealGt 

Ptaoufl-Prim 

Prornoaes 


579 585 
2267 2264 
1868 7804 


ABBA 
AuiDoman 
AsPa A 


2340 

2370 

Renault 

132-40 

127.90 

132. 

127*0 

Alters Copco A 

201 

196*0 

198 

196*0 

TOCO 

9065 

Rexel 

157B 

1559 

1561 

1569 

Autoliv 

295 288*0 

290 

389 

8870 

8840 

Rh- Poulenc A 

178*1) 

176 17150 

178 

EtearaliMB 

487 

461 

4BS 

480 

.5575 

5695 

jtoroft 

530 

512 

530 

525 

Ericsson 3 

250 243*0 

746 

251 

29850 

30450 

Schneider 

31170 30180 

311 

31120 


1115 

1082 

1100 

10S5 

14TO 

14950 

-SEB 

990 

774 

985 

988 


502 

490 

4911 

496 

2290 

22E5 

SG5 Thomson 

386.60 

379.10 

Vki 

37110 

investor B 

338 

327 

328 

333 

5800 

5870 

Ste Generate 

628 

617 

624 

625 

M 0 D 0 B 

316 

7)2 

2)5 216*0 

7075 

7075 

SodentM 

2719 

2600 

Oina 

271" 

Nonfixmken 

258 

253 

756 

756 

10650 

10725 

StGobain 

761 

744 

750 

751 


277 

269 

269 

276 

1160 

1165 

Suez 

280.40 773*0 27160 280*0 

SandvikB 

194 

191 

194 

197 

517 

516 

synthetabo 

£70 

655 

663 

655 

Scania B 

186*0 

183 

1 B6 

1B/.50 

25S0 

2560 

Thomsen CSF 

182*0 17110 181*0 17160 

SCAB 

172 16450 171*0 

168 

3770 

3765 

Total B 

461.40 453*0 460*0 455*0 

Banker! A 

81 

80 

SOW 

80*0 

14650 

14958 

LNnor 

87 

83*0 

86 

87*5 


217 

214 

J17 

716 

16790 

16049 

Video 

360 

350 

352 

360 

Skaitska B 

340 

333 

336 

340 


11585 11670 
7700 7795 

4345 4380 

5225 5140 


Sao Paulo 


D ore spo ladecWlsi 
Previous: 9422*0 


SKFB 

Sporbanken A 


528 5.06 

178 2-73 


5.16 5.19 

577 5.72 


Montreal 


lndo s Wc fa hntec 287XB3 
Previews: 28142* 


650 644 

5.40 525 


14.91 i486 
7377 495 


Hongkong 


4.17 423 

652 6-68 


Amoy Props 
BkErmAsto 
Guitar Poc/nc 
Cheung Kong 
CK infrastnid 


Chino Light 
OBcPodfic 
DooHeng Bk 
First Podftc 
Hong Lung Dev 
Hong 5eng Bk 
Henderson Inv 
Henderson Ld 
HK Chino Gos 
HK Electric 
HK Telecomm 
Hopewell Hdgs 
HSBC Hdgs 
Hultfrtsoti Wh 
Hyson Dev 
Johnson EJ Hdg 
Kerry Props 
NewVAntdDev 
Oriental Press 
Pearl Oriental 
SHK Praps 
Shun Tot Hdgs 
Sim Land Co. 
STh China Posl 
SwtrePoc A 
Wta 1 Hdgs 
Wtieetocfc 


780 725 

2665 24.10 
I7.ro 1180 

68.75 67J5 
22.15 2185 
35 34J0 

39.90 3920 

36.10 36 

9.75 960 

1415 1410 
8475 04 

785 7.70 

45*5 6475 
1165 1760 
21 26.70 
13*0 1105 
403 198 

187 lasin 
57J5 57 

2110 21.70 
19*0 1520 

17.90 17J5 
41 JO 40JO 

3.05 198 

103 195 

00.75 7950 
495 J 93 
7.25 7.IS 
6-7? 660 

58 56 

30.10 2960 
16-30 1685 


765 780 

2620 2645 
11 JU >7.95 
67 JS 6825 
2110 2110 

35 35 
39.» 3960 

36 3610 

9*5 9J5 

1410 1415 
B45C 8425 
7J5 780 

W*i 65 

1250 1165 

27 2680 
1105 1X30 
483 4 

187 187 

5750 57.75 
2185 2170 
1920 1950 
1780 1780 
40.90 MAO 
105 2.95 

195 198 

79.75 7950 
495 495 

725 725 

650 680 

5725 5825 
29 AS 29.95 
1655 leJO 


land Sec 

Lasrno a-m 

Lego) Gem Grp 387 

UoytfeTSBGp 635 

UmnVoitty 


135 136 

781 7.75 


281 127 

3.86 387 


Marks Spencer 581 


529 529 

1.93 1.93 


MEPC 

Mercury Asset 1172 

Notarial Grid 119 
Natl Power 
NotWesl 
Next 
Orange 
PfcO 
Pearson 
PHUngton 
PawetGer. 


Jakarta 


Composite tatesc 64624 
Previous.- 64126 


Astra Inh 

aklntiimnn 

3h Negara 

Gudang Garm 

■ndocemetn 

Uidcfaod 

moral 

SampoeroariM 
Semen Greslk 
Tetekwnunftssi 


5900 5800 5000 5800 

1875 1775 1025 1750 

1425 1150 1400 1350 

10450 10350 10450 10300 

3325 3300 3300 3300 

4850 4875 4S5fl 4350 

6t3KI 6700 6700 6775 

9975 9725 9925 9650 

5875 50» 5875 5750 

3650 3400 3*00 3650 


528 
705 
657 
116 
650 
7J0 
1.19 

rwmuni 6.® 

Premier Famed 583 
Prudential 
RttfrockPP 
Rank Group 
RecWOColm 
Red land 
Reed Inti 11 JO 

Renta*? infflai 402 

Reuters Hdgs 5.99 

Rcwbii 

RMC Group 
RodsRayte 
Hotel Bk Sari 
RTZ reg — 

Rcyrd C. Sun All 455 

Safeway 175 

SnJnsowy 13) 

sdinden ism 

Sect Newcastle 683 

Sea. Power 3J7 

Seeuricor ■“ 

Severn Trent 


SheBTronsp* 1069 


Smite Nephew 1 JB 


1170 1161 
lid 11 B 
5.19 529 

695 694 

653 6A7 

113 114 

607 4.08 

729 727 

1.15 1,19 

640 648 

4*8 5 

5.74 5J5 

448 445 

428 426 

822 889 

148 144 

1153 11.19 
3.99 199 

595 586 

3.17 119 

929 9,45 

141 144 

552 545 

980 9*0 

455 445 

145 145 

228 329 

1522 1520 
680 681 
2.72 173 

289 286 

7.48 788 

10*7 10*2 
9J1 981 


Bee Mob Com 
CdnTire A 
CdnUltlA 
CTPMSvt 
Gaz Metro 
Gt-WedUfeco 
Imosca 
Investors Grp 

Lnntaw Cos 
Natl Bk Canada 
Power Cora 
Power Ferl 
QuebecorB 
Rogers Comm B 
Royal BkCda 


•Mb 44 
24H 24 ’t 

3135 Wi 
33 33 

1720 17.05 
2235 22*. 

36.70 36*5 
2435 2435 
1720 17*0 
15 147C 
27.80 27*0 
26 2595 
2420 2430 
7 JO 7*0 

5115 52*5 


BradescoPfd 
Brahma Pfd 
CermgPW 
CESPPtd 
Copef 
Etetrobros 
Itoutxmco Pfd 
Light Serritfos 
LigMpar 
Petrabms Ptd 
PaulistaLui 
Sid NncJonal 
Souza Crtri 
TeWraPH 
Tetenrig 
Telert 
TetepPtt 
Umbanco 
U stomas Pto 
CVRD Pfd 


B80 8 JO 

72500 72080 
4600 4520 
5740 56850 
1580 1570 
45100 44680 
57780 57400 
457.00 455-50 
31780 31680 
20980 20550 
16151 16149 
2S80 3780 
55 0 549 

117*0 11660 
161.10 16180 
17150 17087 
29501 290 JO 
3510 3480 
1.19 1.16 

2680 2570 


575 884 

72500 72580 
4600 4520 
57.10 57.10 
I5J0 1581 
45280 44580 
57480 57680 
456.50 45780 
31780 31580 
20980 20150 
16250 1*151 
3880 37.90 
549 545 

I17M 11670 
161.10 161.70 
173.00 17380 
29580 29400 
3510 3400 
1.18 1.17 

2580 2610 


Stodshyprdek i 
Slam A 
Sv Handies A 
Volvo B 


169.58 167 

138 13& 


190 190 

100 9550 


Sydney 


OBX lodec 410.19 
Previous; 607.14 

174 170 173 172 


Seoul 


CumpasBB tadeac 6086 
Pmiois: 697 J4 


1010DO 99000 99000 101500 


Amcor 
ANZBUng 
BHP 
8 oral 

Brambles Ind. 
CBA 

CCAmafll 

CohaMyer 

Comalcu 

CRA 

CSR 

FosreraBiew 
Goodman Rd 
ICI AitsnnOa 
Lend Lease 
MlMHdgj 


Smite Khtie 
Srretes Ind 
SteernEtac 
Stogecaadi 
Stand dtoner 
Tate & Lyle 
Tesco 


1J6 1J7 

9J4 9.03 


7*9 7.58 

422 425 


589 6 

B.H 8.79 


Thornes Woler 68S 


445 444 

3*4 3*1 


Johannesburg AnMattet;7D658a 

3 Previous; 7D4084 


6 JS 681 
4 99 498 


5*0 551 

2*5 2*4 


Copenhagen 


EG Zert 
Czf&xr-, B 
r . ;;;n Fere 
G: Rises 
n~r Curst e at 
D S j.erdbry B 


Antateamta Bu 
ttogloArn Cod 
AngtaAm-Corp 
AngwAm Gold 
AnotoAmim) 
AVMIN 
Bartow 
CG. Smitti 
DC Beers 
Ditelontetr 
Fst Natl Bk 

Gencor 

GFSA 

imperial Hdgs 

IngweCoal 

Hear 

Johroes indl 


7 930 

79 

29*5 

29.75 

290 

284 

790 

283 

281*0 

2W./5 

281 

281*5 

307 

305 

307 

305 

m 

180*0 

Ifll 

180*0 

17.90 

17*0 

l/*0 

17.90 

49*5 

46.90 

49.05 

49 

25.40 

25*0 

25*0 

2140 

15175 

157*0 

158 

litL/5 

39*0 

3« JS 

49*5 

3>4» 

31*1 

30.75 

31.71 

31*0 

18.60 

15*0 

I860 

18.40 

111 

no 

111 

110 

56*0 

55*5 

56*0 

11*1 

28 

27*0 

28 

7**0 

404 


4*4 

3 


UM Assurance 457 


UtdNews 

UtdUtiSBfea 


Vendomeljtuts 517 


Vodafone 

WiBbteod 


Wtatoms Hdgs 116 


Wotsdey 
WPP Group 
Zeneco 


1*88 1596 
453 455 

7M 726 
660 458 

513 515 

173 160 

757 7.68 

114 115 

499 495 

252 151 

18*4 1822 


Madrid 


Balsa Met! 49136 
Pievtom: 494J6 


293 

7W 

792 

7«0 

Liberty Hdgs 

214 

111 

314 

315 

3TOJ9 

386 

389 

385*1 

LtoeityLitc 

117.75 

116.71 

117*0 

117*5 

471 

869 

370 

875 

UDLrte Strut 

15.75 

15*0 

iSJS 

15*0 

32? 

a 1 

388 

388 

Mlnera 

101 

too 

100*0 

101 

549 

wo 

i4» 

5J5 

MamtMl 

1905 

tiro 

19 

19 


D.SU’.IS 
FLS Its 3 
res nnamne 
N n 'itraisk B 
roDri’isBu B 
7?-.% jsrnl 3 
~n- ic Sirs 
'Jr.iisnmrkA 


WOO 291900 294000 29 1500 
206000 200000 203500 201000 
910 BTO 900 89£55 
iM 672 642 645 

672 655 669 659*1 

eoi m bcj eoo 
335 326 335 326 

346 n* 3 ^jso no.es 
330 3J4 32? MJ.13 


801 Ttl 

335 325 


34# ns 

330 324 


Nedcor 

Rembrandt Gp 
Rrchemont 
Past Platinum 
3A Breweries 
SamarKO' 
iasot 
S SIC 

TrgerOars 


BS e.7S0 68 "7-50 

46J0 4450 46.ro 46.40 
44.75 4350 *475 6150 
75 *2 74.75 77 

132 131 JS 131.75 13250 


5J 53 25 
200 IM 


48 49 

54 5350 
2M 5«.S3 
77.40 77 


Frankfurt 


OAX:3340J3 
PremMU 334758 


Kuala Lumpur composite: 1120*0 

r Prcvtaas 1127*0 


-ve 5 

Aiieis 
iiira'jHdg 
Ai:;na 
?eri m 

515 c 

2ev.r“.3t c» 


Se. jeniirippnk ' 


= rw*rws Vet Ilt-S 


1320 1320 1320 

177*0 T7Sia 175 
3130 3141 3204 
12 Si 1 M* 1111 
3470 34.93 ysO 
4* 70 6/ 10 6 7 95 
5185 51 05 5105 
67.70 *7.70 47. tj 
19.05 69.65 4950 
i? 5940 3840 
4190 4190 4190 
Ilf* 1371 134* 

154 156 159 

«5 40 45*0 4425 
157.70 127.70 12B.3Q 
7725 0 777 76? 

» 3o tO 39 15 
36 50 3650 3*85 
543? 54M 5480 

yn 337 n 

153 156.10 156.60 
322 322 334 

113 113 117.50 

141 141 40 140 5u 


AMW13 Hdgs 

Gentag 

4 #4d Bonking 

MDiinnsmpF 

Pemrws'jcs 

Proict 

Public BK 

Ptflijng 
Resorts World 
PommarB pm 
S tate Oa ray 
Telekom Mai 
Temper 
UId Enqineefs 
TTL 


IB IB 
1410 1 430 
2 6-75 27 

550 5^0 

B55 955 

1580 1580 
450 45* 

164 3J2 

950 9*5 

2120 mo 

&1D 125 

17.W) 17.90 
11.90 12 

1980 19.90 
10.40 1070 


Aewtnw 

ACESA 

Aguas Borcelon 

Aroentorlo 

BBV 

Booesto 

Bonkinlar 

Bat Centra HHo 

BcoPwtar 

BfoSomtitder 

CEPSA 

CatHnenR 

Corpf.Wptre 

Eodeso 

FECSA 

Gas Natural 
Iberdrata 
Pwo 
Ripsol 

SevflkinnElec 
Tabaadera 
THsfontoJ 
Umon Fenoso 
Vttlenc Cement 


2O9S0 20860 
1640 1645 

5450 54TO 
6350 *390 
5260 9170 

1140 1130 

30300 20200 
4200 4150 

24950 27390 
10010 10100 
4630 4750 

25W 2515 

7240 7200 

9910 9600 
1155 1150 

J1900 32300 
1415 1575 
8 S» 2505 

6330 6370 
1290 15*0 
7700 7180 

3710 3645 
1195 1165 
1740 1740 



Benjesefl Dy A 
Christa nta Sk 
Den make Bk 
Elhem 
Hafsliipd A 
Kveeraer Asa 
Norsk Hvdra 
NorskeSlcog 4 
Nycomec A 
Orkla Am A 
Pelka GeoSvt 
Sago Petal A 


TransjceanOft 
Sln-Ttocnd Asa 


144*0 

I4J 

144 

144 

M.10 

23*0 

74.10 

2iro 

s.ro 

J7.7C 

27.ro 

27 M 

134*0 

132*0 

134 

133*0 

4a*0 

46 

46 

4*70 

350 

346 

35D 

345*0 

250 

344 

3SC 

3S 

733 

232 

232 23150 

135*0 

’04*0 

105 

10450 

£03 

i?o 

605 

189 

HS 33IL5C 

;a.> 

233 

113 

UL5C 

1:3 

li: 

12/ 

126 

126*0 126*0 


435 

<45 

4 40 

■S3 

44.10 

44<>t) 

14*0 


Daewoo Herwy 

Hyundai Eng. 
K» Motors 
Korea El Pwr 
Korea EwtiBk 
Korea Mob Tel 
LG SpmitDri 
Pahong Iran Si 
Samsung Dbtay 
Samsung Elec 
SWnhanBOT* 


4700 4460 

18300 17900 

14500 16000 
27100 26600 
5500 5400 

458000 452000 
27400 26500 
54900 53600 
42000 41200 
61700 60000 
10500 10200 


4700 4610 

SB300 IBM® 
16500 Man 
26600 mm 

5430 5520 

455000 458000 
76800 27400 
54(00 SrtOf] 
41500 41600 


60000 61500 
10200 10400 


Nat Aust Bank 
NatMutwriHdg 
kwCop 
PodfleDurtap 
Pioneer lirrt 
Pub Braaacad 
5:GfCiseBon» 
wive 

Westpot Bung 
WootBWePet 
WoohvorAs 


>680 16*5 
1.90 186 


487 6 

3*4 132 


1687 16.79 
188 187 


429 4.27 

6*4 6*0 


405 685 
3*4 136 


7.92 787 

780 7*4 


4L2B 429 
6*4 6*5 


*84 *74 

1087 9.91 


7.K 7.95 

7*7 782 


684 6.78 

10 989 


Singapore 


Taipei 


Stadr Mortari AHteto 8430L62 
PtattOS 842187 


Manila 


PSEtadBa2e4S*S 
Provtoos: 3944.98 


CAC-a; 2514*7 
Previous: 2522*7 


London 


FT-SE 100:4346.10 
Previous; 432878 


Ayala B 24 

Aiwa Lana 2589 

BkPWIpIsl W 

C&P Homes 11 

MnnftlEICCA 119 

Meira Bank 635 

Pefron 10 

PCI Bank 375 

PhB Long DteJ 1550 

San /Aiguri B B250 

SM Prime Hdg 7*0 


Abbey Natl 
Allied Domeca 
Anglian Water 
Antoi 


831 883 

435 426 


684 *44 

6.6/ 6.58 


3.07 B.11 

480 4J3 


Mexico 


22*5 

73 

23*5 

Accor 

ail 934 

«46 

Me 

ZS 

2 S 

25*0 

AGF 

(97 is; 23 

190*0 

I«2 

1 S2 

157 

162 

AtrUgtode 

85* i?) 

SK 

859 

10*S 

10*0 

11 

Alcatel Ahlti 

StS 640 

MS 

660 

116 

ne 

119 

Axn-JAP 

3£7.70 3S2.32 

255.70 356 70 

620 

625 

625 

Bancarn? 

7S7 740 

<45 

74 J 

9.90 

10 

10 

BIC 

Sis 540 

»: 

555 

360 367*0 

360 

BNP 

"i.'-C 2K.53 

225 

773*0 

152S 

1540 

1560 

Canal PI 43 

lets ;m 

1070 

103! 

79*0 

79*0 

84*0 

Csitmow 

■MJ “73 

3K5 

-20 

7.10 

7.10 

7.40 

Cfflrnc 

'si auc 

^4*0 

256 




CCF 

750*0 244 


250*0 

Salsa Meu 2792.92 
Pyprieas: 3758*4 

Cetetem 
Cnnstan Dior 
CLF43e>inFran 

!*5 435 

840 51) 

545 542 

154 

6 T6 

543 

630 

327 

546 


AnoPatBrw 
CeretwsRK 
□iy Devils 
CvGe Carriage 
Dairy Perm ml * 


fc£2 6.47 

»*l 6 6? 


495 

<75 

0.00 

(LOO 

A'JIO Grouj 

1 12 

1.11 

1.11 

6720 

■H 

M.70 

67.45 

Asscc Bl rC0d5 

5*8 

i?< 

U7 

67.10 

4**5 

66 80 

*5 33 

BAA 

5J0 

5*0 

5*1 

573 

514 

579 

515 

Brraraw 

10.39 

10*2 

1016 

#5 j3 

m /a 

'* 

65.30 

Boss 

7.9k 

751 

7 0J 

1155 

1125 

1135 

H55 

5AT ind 

5 27 

5.1 B 

5.24 

77,15 

7210 

22.90 

22 

Bant jcMiand 

342 

3*5 

140 

50180 

<77 

4?ii0 49990 

StocCirctc 

■r-M 

4 2? 

423 

659 

648 

651 

647*0 

BOC Group 

9.(0 

8.98 

9*5 

135 80 

35.IO 

35*0 

36.10 

Boots 

*9/ 

687 

60S 

158 

IV. *0 

156.50 

157*0 

BPBJnd 

3 7-i 

3 Xl 

3*0 

3905 

3680 

3820 

3970 

BnfAerasp 

(3 55 

1140 

13*0 

443 *0 

<36 

<36 «2*0 

Bnt Alr.iDfS 

6*1 

6,80 

686 

6 <45 

67 

6710 

67.40 

BG 

1 84 

1.31 

1 82 

2 °B 

;«v |0 

791 

288*0 

Bril Land 

5<0 

5*6 

5 37 


AHa A 

aanscdB 

CrmecCPO 

omc 

EmpModema 
OcoCa soAl 
GpoFBcamer 
Goo Fin IntaKM 
K.knb Oorii Mev 

T«Mek L 


43.90 4430 4X95 
1&7D 1686 16.98 
7735 37*0 27*0 
11.62 11.90 11*2 
40-50 4185 40.7C 
46*0 472S 4640 
1.75 1J5 1.77 

2730 2730 2730 
30-20 3050 30*0 
9980 10080 1O0LT 
16.12 1*J6 1630 


MIB Tetaaaflca: 1225280 

Previous: 1229980 


AJlewna Asst 17400 17230 12240 12365 

BcaCammlw 3580 3465 35* 3S4S 


CrediiAgnccie 

□anene 

Elf-Aguliare 

EjiaarwBS 

Euradrsnev 

Eiimiiewi 

Gen.Eoia 

Haws 

imeni 

Lotorce 

Lea rand 

L-Oreal 

LVMH 

Lywi Eaw 

MidwfinB 

PprttnsA 

Pnr*df«card 


I2501I67.1S1:4?.1O 


352 

335 


Ha 

:4j 

12C 

537 

m 



ITS 

536 

vt; 

9*S 

VB!) 

?.ro 

<641 

6*0 

5*i 


7<* 

Ijl 

:ci 

7« 

4C2 

2S7.I3 

rr* 

3**0 

8 ai 

795 

i)5 

M0 

V ■! 

362.60 

76 < 


95? 

<50 

730 

951 

1920 

1852 

IW/ 

I9TO 

1344 

1795 

111 ) 

1319 


ili 

ili 

o2‘ 

328 

310*0 321.60 

m 

3i3 

350 60 

357 

2®4 

235 

2*1 

2 M 


Daily Farm irH * 

DSSteeAn 
DBS Lena 
Frmer&Neaw 
h* Land ‘ 
jard TActhnn ' 
-lord Strategic ■ 
Kernel 
rjrapel Bank 
KeapeiftrS 
t.eppci Land 
OCBCtorriqr. 
OS Union BkF 
Parkway Hdgs 
Sembawvtg 
irnj Ahteieiqn 
Sing Lend 
Slnq Press F 
5*5 Teen Ind 
Sing Tekcon u n 
Ter Lee Sank 
Uidinaustrial 
’JtdOScoBIP 
Wmg Tgi Hdgs 


*85 6.90 

695 080 

1280 1750 

T58Q 1S.HJ 

069 0*8 

77*0 1750 
480 486 

10.90 10.90 
2.19 U1 


Calhny Lite Ins 


Chang Hns Bk 
Orion Tung Bk 
China Devdpmt 
Chinn yw 
flrs Bank 

Farmasa Plastic 
Hue Nan Bk 
lot! Comm Bk 
Nan Ye Washes 
Hw 7 wig Lite 
Taiwan Semi 
Tanjrw 

uaiAtimEiet 

utd'.'MHaanri 


S7J 555 
3M 336 


390 

386 

IBS 

190 

4*6 

430 

4*4 

4*6 

4.12 

3.7G 

4*6 

4.10 

17* 

17*0 

17*0 

I7J0 

10*0 

10 

10*0 

9.90 

6 A 0 

6*0 

6*0 

6*5 

645 

6*5 

6*5 

6*5 

12.10 

11.90 

1110 

IS 

6*0 

6*0 

6*5 

6*5 

27*0 

26*0 

77*0 

36*0 

ISO 

164 

3*0 

172 

2*2 

2*3 

2*6 

2*3 

3*3 

3*6 

US 

13S 

1 14 

1 13 

1.11 

1.13 

UM 

1460 

1460 

IS 

4.14 

410 

417 

412 


160 160 
)12 113 

72 72*0 

115 115 

29 39.10 

11250 11X50 

69 70 

104 10450 

7150 7MC 

73 73*0 

10080 101 

8280 85 

5580 56 

ss ms 

71 71 


Tokyo 


MtatetZZS: 18S44A5 
Prevtoat UB5l*6 


Adrionuio 

ABUfipponAir 

Amwcv 

Am hi Bank 

AscMChm 

AsahiGkX! 

Bk Tokyo htilsu 
Bk Yokohama 
Bndgestone 

Canon 
Chubu Elcc 


Stockholm 5 X_>6 Men 27033 
mWK 279*86 


OnreahuEiec 
Dai Hpp print 
Dotai 

DaHcniKang 

DeunBank 

Dcrwa House 


107*0 1C* 10780 106 


urn loon 

7*8 771 
3650 3570 
799 783 
708 690 
ll?0 l>10 
2070 1980 
539 517 
3480 3440 

2810 ma 

30TO 2060 
2120 2080 
2370 2210 
*44 *75 
1420 1360 
439 ill 
1470 1430 


1010 1010 

727 7Z7 

3650 3550 
79B 801 

706 699 

1120 I no 

2010 201Q 

517 521 

2470 2490 
26f0 2770 
2070 3100 
2000 2080 
2250 2320 
623 MS 
1360 1390 
m JIB 

UT0 1440 



: -$?’ 
V--*". r--S 5 J 


Frankfurt 
DAX. . 
3600 

m 

3200 


1997. 

■ index 


Amsterdam 


Frankfurt: 


Helsinki 
Oafc . 
London 


' Lonrtblt : ' ' 

Frfe too index CAC40 . 

4400 j\ ■ ■ m 

. . 4300 - • / V ' 2700 ' fJSu : 

■ 4200 - - f- " 2550 I * 

; 4100 - - M- m kf' 

' 4000 JV- - ; 

l DJ-FMA. *OJ FMA< 

f v 1996 199 7 . 1996 , . 

tfoto ■ • Tttesd®? Piw %■ 

^ 

jj. ' J 74B,fip ■ 744.9 2 -frCLS l 

! " 3347.58 ^022 

Sterfit' ■ : : 

Sr."":: Gfff AA 



:V%+, 


F M A . 3900 NJ> J'F f^A 
1997. 1996 199' 


-V^sn "TTjrgl 






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•-OSX. 

:.'FTSK : 10Q7T 







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lively has no trade policy with the 
region. 

The legislation would eliminate 
certain textile and clothing quotas; 
create a $150 million equity fund 
and a $500 million infrastructure 
fund for African entrepreneurs; es- 
tablish a U.S.- Africa Economic For- 
um to Facilitate trade pacts, modeled 
after a similar Asian-Pacific group: 
and call fora free-trade agreement. 


Milan . 

Pam' 

stocWiotm "SXi&: 

Zurich . ;.syt. 
Source: Tetetoirs 


12252' 12298 -&38 

2.7^33 . ■ 2,796.6© .-13)' 
*0.42 

■3^06.44^ 2U99P.31 ~ ■ +QS4 

IiUctdNjoiuI Herald Tnbnoc 






* 


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• *. ****** 

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foyTfo* *ki 


Very briefly: 




■zizSL i 

■- V ’ 


SAP’s chief executive. Dietmar Hopp, said he did 
not expect to maintain such strong sales growth. 


“We're sticking with our forecast for sales growth of 
25 percent to 30 percent." he said. But, he added, “if 


the dollar remains strong compared with the Deutsche 
mark, then the increase could be clearly higher." 

Traders said the market had been expecting pretax 
profit of about 155 million DM on sales of 920 million 
DM. SAP stock rose 2.20 DM to 291 DM. 

(Bloomberg, Reuters ) 


• Caisse des Depots et Consignations, France s biggest . ■/. 
financial institution, said its profit almost doubled in 1996, to 

3.97 billion French francs ($690.8 million), thanks to a decline . >.<•’- , 

in real-estate provisions and higher trading income. r • 

• PofyGram NV’s first-quarter net profit dropped 1.6 per- ';<£■ 

cent, to 122 million guilders ($63.7 million), as weakness in -qg. y 
the film business outweighed improved music sales. " • -• 

• Greece introduced a code of conduct for the nation’s '• 

brokerages, banks and investment companies that requires 

them to adopt internal auditing mechanisms and refrain from - 

insider trading or money laundering. . ^ ‘ 

• Asea Brown Boveri Ltd-, a Swiss-S wedish engineering - 

conglomerate, said first-quarter net profit rose a greater-than- gT.’. -- . 
expected '8 percent, to $236 million, fueled by earnings at jts »- 

power units and cost-cutting. ■ - 

• Smith Kline Beecham PLC’s first-quarter pretax profit rose 8 •? " V; ^ 

percent, to £4 1 8 million ($683 J million ). as sales of new higher- -j 

margin drugs offset the impaa of currency fluctuations. .^5*^ 

• Lufthansa AG will start a joint venture with British Mid- , , ' 

land PLC at the end of May to offer flights between Britain and Q . : 

Germany. Blpomhers. Reuters 




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High Low Closa Prev. 


9150 89 91 8780 

19a 18780 IBS-50 191 
71780 38380 30*80 32080 


168 169 

138 13*80 
tro iro 
9980 100 

228 236 


ABOnflnaries: 2447*0 
Prewwv 144580 


BJJ8 8.12 

8.12 &1B 
17H9 17.12 

3M 3*4 
22*0 2280 
1386 1385 
14*3 1*27 

4.12 4.18 

6*2 683 

10*8 19*1 

4*4 4*7 

2*5 2*6 

1J1 1J0 

12 11.75 
3485 2480 
1-72 1.74 


|The Trib Index 

Prices as ot 3M P M. New York ttme. 

Jan. t. 1092=100. 

Level 

Change 

% change year to date 

World Index 

151.08 

40.53 

+0.35 +1.30 

Regional tndezns 




Asia/PacHic 

108.93 

-0.38 

-0.60 -11.75 

Europe 

159.89 

•0.68 

-0.42 -0.81 

N. America 

176.20 

+3.39 

+1.96 +8.83 

S. America 

140.61 

+0.85 

+0.61 +22.88 

Industrial Indteaate 




Capital goods 

180.17 

+1^8 

+0.08 +5.41 

Consumer goods 

173.15 

+1.48 

+0.85 +7.26 ‘ 

Energy 

179.28 

+2-35 

+1.33 +5.00 

Finance 

109.50 

-0.70 

-0.64 -5.98 

Miscellaneous 

154J23 

-0.57 

-0.37 -4.67 

Raw Materials 

180.CS 

-0.22 

-0.12 +2.66 

Service 

.140,75 

. -0.95 

-025 . +250 

umbos 

131.88 

+0.77 

+0-59 .'.-321 • 

Tito /murnaPcna/ Herafcf Tribune WotkJ Stock Index O tracks Ihe U S. dcOar values ol ' 

280 intmtatkoiaBy lme$t3btB stocks from 2S countrioa. For mom Wonnatton.a free 

boakla!tS3va8atteby*T&ng!a 37» Trib Ma*.f8t Avenue Charles do Gauko. 

92521 AtowBy Cerier. France. 


CcmpSod by Bloomberg News . 


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FuBPtata 


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HUodri 

HonOo Motor 

IBJ 

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JAL 

Japan Tobacco 
Jusca 
Knjtaia 
Karaal Bee 

Kao 

KawaswlHvy 
Kavra Steel 
KMONIppRy 
IGrtn Brewery 

Kobe Steel 

Komatw 

Kubato 

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Kyushu Etac 

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Matsu Comm 
Matsv Elec ind 
Matsu Elec Wk 
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NU^ubbtil Hvy 
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Mitsui Furiosn 

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Nintendo 

NtapEt^ess 

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NKK 

Nomura Sec 
NTT 

NTT Data 
OP Paper 
Osaka Gas 
Ricoh 
Rohm 
Satona ak 
Santoro 
Samra Bank 
Sanya Bee 
Seam 


7980a 7800a 
2620 25TO 
5480a 5390a 

2180 nso 

4310 4180 
1570 1430 
4470 4360 

1290 1270 

1160 1140 
71BB 1130 
3870 3710 
1340 1290 
482 464 

5B4 575 

6250 6048 
500 493 

B 200 a 8060 a 

3780 3670 

570 544 

2200 2170 
1360 1320 
496 
370 
707 
99S 
225 230 

904 895 

578 566 

7410 7W> 

1990 I960 

396 375 

485 471 

2(00 1970 

3160 3100 

2000 1970 

1200 1170 

1170 1150 

427 418 

715 497 

1540 1500 

845 B32 

910 B9B 
7340 7310 

933 927 

1450 1420 

730 686 

4530 4500 
1510 1480 

1790 1750 

718 67B 

W70 0990 
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Seklsui House 
Sevo^Eteven 
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Shizuoka Bk 

Softbank 

Sony 

Sumihnra 
SumBomc Bk 
SumSChem 
Sumitomo Eta 
5un6tMntal 
SuaiH Trust 
TaislibPhorm 
Takedo CtKffl 
TDK 

Tohoks El Pwr 
Taka Bank 
ToMo Marine 
T«Kitea?Wf 
Tokyo Etedren 
Tokyo Gas 
Tokyo Ccrp. 
Toaen 

Topoan Print 

Tornyind 
Toshiba 
Tostem 
Toyo Trust 
Toyota Motor 
ramonavdri 


369 364 

770 — 

273 
law 1340 
B860D 8770a 
3520b 3490b 
627 616 

396 287 

1480 1460 

9510 9420 

721 696 

3280 3240 

1450 1370 

475 466 

7290 7220 

5970 5930 

1710 1180 

1130 1110 

7810 7770 

1580 1550 

1960 1 930 
604 578 

2440 2420 

15« 1580 

1150 1120 

8000 7880 

8990 8090 
669 825 

1590 1480 

S2S 51 4 
1700 MS 


1090 1030 
2930 2850 
7780 2750 
9020 8920 
1990 1970 
963 931 
72*0 727ft 
2250 2200 
4568 4500 
299 296 
645 436 

1190 1160 
1659 1620 
773 764 
70S 695 
2800 2770 
832 790 
33« 3310 
2650 2620 


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845 808 
7900a 8390a 
2610 2620 

5400a 5480a 
2170 2190 
4290 4230 

1460 7500 
4440 4360 

1230 1280 
1140 1150 

11» 1150 

3850 3710 
1300 1310 
- 468 484 

57B 577 

6120 5990 
494 499 

8150a 8240a 
3680 3720 

560 S® 

Jiao 2190 

1350 13® 

498 496 

373 372 

707 711 

999 1010 
221 222 
898 896 

,572 560 

7380 7390 

1988 199® 
379 377 

473 477 

1980 2030 
3110 3110 

1970 ISTO 
1190 117® 
1150 1178 
426 423 

TOO no 
1540 1520 

835 845 

898 907 

1330 1330 

928 927 

1450 1420 

690 680 

4530 4500 
1500 1490 
1780 17BO 

708 67) 

9000 9050 

846 B45 

553 556 

365 365 

760 760 

271 268 

1370 1300 

8810a 88900 
3520b 3510b 
617 617 

294 294 

1460 1460 

9510 9220 

701 705 

3240 32B0 

1370 1370 

473 467 

7240 7190 

SMS S930 
1210 1180 
1115 U?° 

7B0Q 7810 
1560 1540 

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593 586 

24® 2430 

1580 1600 
1130 1140 

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8970 8950 
833 849 

1480 1490 

.516 520 

lo»l 1700 
307 304 

MM 1050 
29® 3960 
2730 2770 

9000 8880 
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935 932 

1220 1230 
2230 2210 
4550 4548 

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644 639 

jiro 1200 

1630 1640 

765 767 

AW 707 
2280 27M 
820 790 

3330 3350 
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PAGE 20 


^ licralbSSrtbunc. 

Sports 


WEDNESDAY, APRIL 23, 1997 ! 


World Roundup 



Hideki Irabu pitching for the 
Chiba Lotte Marines last year. 

Yankees Buy Irabu 

BASEBALL The New York 
Yankees on Monday acquired the 
rights to Japanese pitcher Hideki Ir- 
abu from the San Diego Padres for 
$3 mill ion, according to sources 
within baseball. As part of the deal, 
subject to approval of baseball's ex- 
ecutive council, the Yankees will 
send injured outfielder Ruben 
Rivera and minor league pitcher Ra- 
fael Medina to San Diego for three 
minor-leaguers: second baseman 
Homer Bush and outfielders Gordon 
Amerson and Vernon Maxwell. 

Irabu’s team in Japan, the Chiba 
Lotte Marines, agreed in January to 
give San Diego exclusive rights to 
sign him, but the 27-year-old said he 
would sign only with the Yankees. 

• Cuban pitcher Rolando A r- 
rojo, who defected before last sum- 
mer's Olympics, agreed to a con- 
tract with the expansion Tampa 
Bay Devil Rays and will receive a 
multimillion signing bonus. 

■ Jason Isngnnausen, a New 
York Mels pitcher recovering from 
arm and shoulder surgery, fractured 
his right wrist punching a trash can 
and will be sidelined until July or 
August. Isringhausen was playing 
for Norfolk of the Internationa] 
League and hurt himself April 3 1 
after allowing three runs in die first 
inning against Toledo. (AP) 

Sri Lanka Fights Back 

cricket Aravinda de Silva made 
79 not out to lead a Sri Lanka fight- 
back against Pakistan on the fourth 
day of the first test on Tuesday. 
Arjuna Ranatunga struck 58, and Sri 
Lanka closed on 206 for three in its 
second innings — a lead of 158. 

• West Indies and India drew the 

rain-ruined final test Monday in 
Georgetown. West Indies won the 
series, 1-0. India made 355 in its 
first innings. West Indies did not 
bat. (Reuters} 

Maid May Sue Cipolliui 

cycling Mario Cipollini faces 
possible legal action after a cham- 
bermaid allegedly pricked her fin- 
ger on a syringe left in a waste 
basket in his hotel room on the 1 996 
Tour of Italy. The rider and his team 
had been staying in the hotel in 
Prato before the 1 1th stage — 
which Cipollini won. (AFP) 


Money and Muscle Take the Field in Europe’s Semifinals 


International Herald Tribune 

LONDON — Pressure makes or breaks ath- 
letes. 

It probably was ever thus, but the stakes and the 
strains are at breaking point The pressure points 
Wednesday involve Manchester United against 
Bomssia Dortmund, and Juventus against Ajax in 
the second legs of the UEFA Champions League 
semifinals. 

We look to gifted players for inspired jjct- 
formances. They look at the night with something 
between relish and foreboding. 

They are fit young men in the prime of life for 
whom the final on May 28 could pay off the 
mortgage, but failure could bring the house down 
around them. Clubs such as Manchester United are 
S750 million businesses. Failure on the field means 
failure on the stock exchange. 

Thai is modem soccer. You want the best, there is 
a price to pay. This season the Champions' League 
becomes will gross 5200 million, an income 31 
percent greater than the 1994 World Cup. 136 
percent higher than Euro 96. 

Nine tenths of the money comes from five 
countries: Italy. Spain, England. France and Ger- 
many. So how dare we complain when, from next 
season, these favored earners will be allowed not 
one team, but two teams in the tournament? 

I do complain. To me, this adulterates the Cham- 
pions' League. You cannot have two so-called 
champions per country, and you should not shut 
out nations that are low in the finance league. 

UEFA argues that tradition does not pay the 


European Soccer / RobHuohis 


bills. Its marketing concept, the formula that proj- 
ects this event via television to 200 countries 
around the globe, creates a wealth that UEFA 
distributes from rich to poor members, the former 
East European states in particular. 

In essence. Latvia’s champion may never get to 
play against Ryan Giggs or Panick Kluivert, tut the 
profits from the Champions’ League provide the 
lifeline for Latvians to play at all. 

The prize, and the price, is fiscal. It is also 
physical. Already this season Borussia Dortmund 
has needed twice as many players — 22 — as it has 
had European games. The toll on Germany’s cham- 
pion club has stretched nerve and sinew for three 
years, during which some Dortmund heroes helped 
the nation to win the European Championship, and 
have played relentlessly without respite. 

U EFA’s medical advisers know this is a 
bankrupt philosophy. Dortmund's directors 
blamed the physicians, fired them, and still 
the casualties mount. Two weeks ago, the club had 
1 1 senior professionals in the treatment room. Even 
as Dortmund travels to defend a slender 1-0 lead in 
Manchester United's splendid 55,000-seat stadi- 
um. its captain . Matthias Sammer, the best defender 
in Europe, is ruled out with a groin injury. Also out 
of action is Ibrahim Tanko. a 19-year -old Ghanaian 
striker, and Juergen Kohler, a veteran of many caps 
and countless injuries. 


If Karl-Heinz Riedle and Stephanc Ch£ 
lead die attack, if Paulo Sousa and Andy Moeller 
combine in midfield, and if Steffen Freund and 
Julio Cesar play in defense, it may only be thanks to 
p ainkilling injections. 

Manchester United declares a clean bill of 
health, though Roy Keane, its fiery Irish marauder, 
is suspended again. Alex Ferguson, United’s man- 
ager, talks up ms side ’s readiness to avenge some of 
England’s humiliations at German hands, but I 

suspect Dortmund has the edge in technique and the 

striking quality to expose Manchester’s defense. 

Ferguson, of course, accepts nothing of the kind. 
"The Dortmund game," he insists, "is the biggest 
match in Manchester for 50 years." 

History tells him otherwise. United was last a 
winner of the European Cup in 1968, and dial :was a 
monument to the club’s ability to rise from disaster 
and conquer the continent. Should the present side 
reach the final, it will journey to Munich, where in 
February 1958 a plane carrying the Busby Babes, 
arguably United’s finest ever team, crashed on the 
runway en route to European Cup duty. 

Many of that squad died, buta legend was bom. 
Survivors such as Sir Bobby Charlton, now a 
United director, are only too aware of how the 
Munich air crash spawned an affection for the club 
on al] continents. 


Today, that affection perpetuates Manchester 
United’s fortunes. You might meet a schoolboy, or London . 


a businessman, in HongKong or 

of British youth and import the best foreigners. 

T HE WHEEL turns against Ajax. Itt youth 
policy groomed teams to beat the financial 
Sams of Milan, Turin and Barcelona, but 
Wednesday could begin the owl of an A]« era/n» 
Dutch must ovarium a2-l deficit against Juventus 
— die most accomplished and disciplined team on 
the continent — or miss next year's Champions 
League. It could be the final hoar of Louis Van 
Gaal, the coach who came through the Ajax nam- 
ing classes, and who is moving on to Barcelona. 
Van Gaal without the system,, and Ajax without 
Van Gaal, are questionable entities. . 

The club has done well to achieve semifinalist 
stains this tune. Ajax lost half its team to Italian 
predators last summer, and the other half to injuries 
brought by fatigue and stress. Some, notably the 
wonderfully productive Jari Litmanen and the pre- 
cocious Patrick Kluivert, are back. But a g oal 
deficit to tbe redoubtable Juventus does not invite 
optimism. 

I would love to be wrong. United versus Ajax is 
the romantic’s finale- Yet Dortmund versus Jy- 
ventus has the ring of truth in a season where 
finance and physique impose realism on us all. 
Rob Hughes is on the staff of the Times of 





Muster and Sampras 
Fall in Monte Carlo 

Becker Also Loses in Opening Match 


H m w I V i 

Thomas Muster reacting Tuesday as he lost to Fabrice Santoro in the first round of the Monte Carlo Open. 

Rivers Lifts Olympiakos Into Hoops Final 


The Associated Press 

ROME — David Rivers scored 28 
points to lead the Greek champions, 
Olympiakos of Piraeus, past Slovenia’s 
Olimpija Ljubljana, 74-65, Tuesday 
night for a spot in the final of the 
European basketball club champion- 
ships. 

Olympiakos advanced to the 
European Final Four title game for the 
third time in four years; it was runner-up 
to Badalona in 1994 and Real Madrid 
the next year. 

With Rivers, a guard who used to play 
in the NBA, running the offense, 


Olympiakos led the Slovenian cham- 
pions from the start, but wasn’t able to 
put away the game until the closing 
minutes. 

Reserve guard Jaka Danell's 3-point- 
er brought Ljubljana within 55-53 with 
7:40 left. Olympiakos’s small forward 
George Sigalas responded with a jump- 
shot basket and then Rivers took over, 
scoring eight straight Olympiakos 
points to make it 65-55. 

Dragao Tarlac. a 2.10-meter (6-11) 
center drafted by the NBA champion 
Chicago Bulls in the second round in 
1995, added 10 points and a game-high 


13 rebounds for Olympiakos. 

Ljubljana was led by center Vladimir 
Stepania's 12 points and 10 boards. 

Olympiakos had the advantage of 
playing in the atmosphere of a borne 
game, with team banners draping the 
rafters and thousands of chanting fans 
decked in tbe team's red and white col- 
ors. Organizers said Greek fens had about 
half of die available 10,000 tickets. 

None of this year’s semifinalists has 
ever won the European tide, though 
Barcelona came close a year ago, when 
it dropped a 67-66 heartbreaker to 
Panathinaikos. 


By Christopher Clarey 

International Herald Tribune 

MONACO — Feet of clay were the 
rule on Tuesday and not simply because 
of the surface. 

True, No. 1 seed Fete Sampras and 
Boris Becker, who both lost their open- 
ing marches at the Morrte Carlo Open, 
have not made their big names on the 
crushed red brick. 

But die same cannot be said of 
Thomas Muster. 

The Austrian won 18 day events in 
1995 and 1996. He won the French 
Open once, die Italian Open twice and 
this tournament twice, as wdL 

After a brilliant start on hardcoorts 
this year. Muster no longer looks much 
like a claycourt specialist Last week in 
Barcelona, he struggled to beat Renzo 
Furlan of Italy in his opening march and 
was then dis misse d in straight sets by 
Cedric Pioline of France. 

On Tuesday, the small man kicking 
diit at Muster’s aura of invincibility was 
another Frenchman: Fabrice Santoro, a 
former teen phenom turned adult jour- 
neyman. 

The score was 6-2, 7-6 (7-3), and the 
only people more disappointed than 
Muster, a longtime Monaco resident, 
were the promoters, who must now cele- 
brate the centennial of tins event with- 
out their three biggest gate attractions. 

"Maybe you should consider me a 
hardcourter now,” said Muster, mus- 
tering a joke: "A few things aren’t 
working my way at die moment. *Tm 
playing about 60- or 70 percent of my 
normal capacities. It's not enough." 

It still might have been enough 
against the crafty, 90th-ranked Santoro 
if Muster had not double-faulted to lose 
his serve while leading 5-4 in the second 
set. In the ensuing tiebreak, he double- 


faulted again on match point, but his 
problems weren’t all the product of his ) 
own internal struggles. • 

Santoro die 1989 French Open junior | 
champion, is probably the only man on * 
tour to have won his last two claycourt ) 
matches against Muster (in 1992 in ! 
Genoa. Italy and in 1994 in Kitzbuhel, ; 
Austria). ! 

Since then, the Frenchman has re- • 
worked his game, metamorphasizmg [ 
from an ultraquick baseliner with two- • 
handed strokes off both wings into a ; 
frequent net-rusher, and though his , 
ranking has yet to reflect his improved • 
versatility, there is no question he is now \ 
better equipped to thrive in die power- ■ 
heavy world of modem men’s tennis. * 
Against Mustier, he pushed forward * 
cOTisistentlyartfully changed speeds and ‘ 
spins to keep the forebidding Austrian , 
from finding a groove, ? 

As a result, Muster, the relentless ’ 
baseliner, was the one who ended up * 
looking impatient, rushing to net. where * 
he is not at his finest.- - 

"I succeeded in destablizing him,” 1 ; 
Santoro said. "He’s managed quite of- 1 
ten to crush opponents in recent years * 





player WUU^ J. 
doubts is vulnerable." / 

Just ask Becker and Sampras, who-* 
both faded in the stretch. ! 

Becker has never won a tournament ’■ 
on clay and has spent much of the last 15;’ 
months trying to get healthy. 

On Tuesday, he lost, 1-6, 6-3, 7-6 (7- ; 
4), to the combative Furlan. 

Sampras, a late wild-card entry, lost," 
3-6, 6-2, 6-3, in the twilight against' 
Swedea’s explosive Magnus Lareson, 
who appears to have rediscovered both 
his mammoth forehand and confidence 
this season. 


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Scoreboard 


BASEBALL 


Majou League Stamduhu 


Bafltawnt 

Boston 

Toronto 

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NewYom 

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Minnesota 
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PMUSMnvS.aniUMM 
TUESDAY. « COLOMBO 
Sri Lanka T*r bmingc 330 
PNlsiai 1st tarings; 3?B 
Sri Lanka 2d innings: 206-3 
rare hot 

MOU vs. WEST MDKS 
MONOAr, Ol GeoRQETOWK OUYANA 
hrdta tarings 3S5 

Rain Warrupiad match doctored o draw 

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8 1 2—3 
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HAJOR LEAGUE BASEBALL 
AtaWOUILEAOUE ' 

TAtoff* BAT -Agreed to terms trim RHP 
RokmdoArrofoi 

NATtOMAL LEAGUS 

hoWoa -O ptioned inf Russ Johnson to , 
New Orleans, AA. ... 


NATIONAL BASKETBALL ADROCUTION 
DEirves —final Die* Motto, coodb and 
Jtoi Brareffl,Gene unis and Kip Motto, as- 
sfetutfeoactaL 

K61UU • 

NATIONAL FOOTBALL LSACUK 
awbwa -Signed P Matt Peytotv K Scott 
Benhey, LB Lyran Cahtdm lb Janeltlrons, 
LB ManoeOu! Mostena, Lb Rory WtatoCB 
Arthorar cobbs, cb Nattam Penynwiv FB 
TImeflry Coftav G Aden Degraffbnrrfd. G 
Ban Knufmarw DE Dantus Fridec OE- Best 
Iriegborai* WR Tabaris Hshor, WR tta 
KeaM ttol OT TTtanoa Guyno, S5 Kerry 
Horn FS Kevin Jackson, RB CJ. WIlBarrc 

and DT Matt Rice. 

Atlanta —Signed OT Jtnapt Akers, OT 
Bob Gann, GTocUP 0 fMni>OT DomileEnv- 
bra DT MaWai Vtona DE Sony AAtaMB 
aid WR Anthony Ladd. 

J * a «otrvnx8 -Signed OTTqddFdrd- 
Lonoe Ftmdwburt, TE toaocCuffit 
RB David Ttrorapson, CB CurtS Anderean, , 
LB Jtsmte 8flJstoy. es Kevin Devine. Wft 
James Kidd, WR Macefi WesfcOEAlYWrt- 
KM, and OT Craig Warren. 

MEW BHOLAHD -40ftwd OB Chris Bits- 


prrnatntsH -signed OL justtn ChotwL 
pL Mcraa Even, LB Genrid PDndL L8 
'Andy Jooeta TE DJ. Jane* FB OavM Mb- 
Contv QL M ortc Non Q& Mike Quinn, WP 
Sean ReaKondDB Cedric Somuto: 
rte w orpa o -signed Or Robert Bell OT 

UontotoiPB Rodney FBer, C Nate Gibson, TE 
Ryon ween. F5 Sean HamtoCOfl JWm Heb- 
gen. LB Aitrinnr Hicks. CB/PR Shod II- 
naa'^WR Damien Johraetv--LB -MTke 
ArataMskl DT comet SpoJrv DT Roshod 
Swtowanu D6 van TotoM. 













PAGE 21 



EVIIERNATIONAL HERALD TRIBUNE, WEDNESDAY, APRIL 23, 1997 


SPORTS 



m 

I o 

* .1 


Lone, Doomed Ride 
Of Breakaway Cyclist 


. By Samuel Abt 

international Herald Tribune 


L IE GE, Belgium — Georg 
Totsehnig ’s -Mg adventure 
started shortly after 10 A.M„ a 
bit less than Eve kilometers into the 
Liege-B astogne-Liege bicycle clas- 
sic, in the town or Beaufays, just 
outsidcthecity limits of Liege, as the 
riders were moving gently uphill, try- 
ing to work up a little warmth for 
themselves on a cold morning. 

Probably people were still chawing 
indie pack, as menders do when they 
are moving out, still going nowhere. 

The 188 riders did have a des- 
tination. of course. First was Bas- 
togne, deep in the Ardennes and the 
focus of the Battle of the Bulge in 
World War II. After Bastogne, the 
destination was the same Liege the 
pack had just left. 
Liege-Bastogne-Uege is the oldest 


of the sport's one -day classics, started 
in 1892 and run nearly every year 
since except for a few years at the turn 
of die century and during World Wars 
landH. 

It is a demanding race, includinj 
dozen of tbe short but steep hills 
keep Belgium from being flat as a 
table. Nobody in memory has wot 
L iege -Bastogne-Liege with a break- 
away from start to finish because the 
route is 262 kilometers (163 miles) 
long, the winds usually strong and 
those hills munderons on tired legs. 

But the lack of success on long 
breakaways has not curtailed them. 
Nearly every year, somebody goes off 
on an early attack, builds a big lead 
and then is caught 80, 90 or 100 
kilometers from the finish, where the 
real race begins. Last Sunday, it was 
Totschnig’s turn. 

He is a 25-year-old Austrian who 
rides for the Telekom team in Ger- 
many. At the start of the season, he 
tankttl 79th in the computerized stand- 
of file, world's top 900 riders. 
1997 he recorded one victory, in 
the championship of Austria. The 
year before he finished a splendid 
ninth in the three-week Giro d' Italia 
and demonstrated climbing ability. 
He was hired during the winter by 
Telekom to offer support in the moun- 
tains to its leader, Bjarne Riis, the 
winner of the last Tour de France. 

A waiker bee, that, and no reason 
to get excited if be attacked early, 
especially if he went alone and had 
nobody to take a turn setting the pace 
and sheltering him from the wind on 
the long trip south to Bastogne and the 
return over most of the dozen hills. 

ByKilometer26,hehadaIeadof4 
minutes 10 seconds. By Kilometer 35, 
as he rode parallel to a stream dotted 
with fishermen, his lead was 6:15. 

Past apple and wild cherry trees in 
Sower, past small herds of cattle in 
pastures, past dark hillsides. 


rose to 14:10. hi a field, a trough of 
water for cattle was covered with a film 
of ice. At the fir s t major bin, the Cote 
deSt. Roch, 900 meters long with a 12 
percent grade, a big crowd of fans 
waited at the summit, Ttjfomeiw 81. h 
was snowing lightly again. 

Into Bastogne Totsehnig came, 
taming right ax the Patton tank that 
commemorates the battle there and 
heading back north. He had already 
grabbed his musette of sandwiches, 
fruit and cakes at the feed zone, Ki- 
lometer 98, when another rider surged 
out of the pack, in pursuit 
The chaser was Ermanno Brignoli. 
27, as Kalian with the Batik team. 
Unranked by the computer in his fourth 
year as a professional, another worker 
bee. The pack let him go, too. 

Brignoli caught Totsehnig even- 
tually, although it took a while. The 
Austrian was far and away first over 
' the next three hills but looking weary 
as he struggled against the strong 
wind that shook the dark boughs of 
the Ardennes trees. 

By the tbirdof those hills, the Cote 
des Hezalles, 111 kilometers at a grade 
of 11 percent, his lead over Brignoli 
■ was down to 2:30, with the pack four 
and a half minutes farther back. 


T 


against hunters and foamy 
osted against fishermen, Totsehnig 
,ew. fighting a headwind. 

The slightest sprinkle of rain turned 
to snow and, far behind him, the race 
rafeo reported team cars being called to 
the pack forriders who wanted another 
jacket. By Kilometer 50, when his lead 
was at 1 1:20, die sky lightened in the 
southwest. By Kilometer 69; Tot- 
schnig was being pushed by a tailwind, 

and his lead, as he crested a hill and had 

a view of the shadowed valley below. 


HE SUN was out now, and the 
dark clouds of morning bad 
turned to white puffballs. In the 
pack, riders were calling to their team 
cars to return jackets. 

Looking weary, Totsehnig re- 
sponded to fans' applause by rising 
from the saddle and putting some 
extra effort into the next climb, the 
Cote d’Aisomont, Kilometer 171, 
nearly 5 kilometers long with a grade 
of 5 percent. 

He was first there by 50 seconds 
over his chaser and then, on a steep 
and sinuous descent, he was over- 
taken. Totsehnig had been out alone 
five hours. Nobody ever wins Liege- 
Bastogne-Liege with a start-to-finish 
breakaway but somebody usually 
tries. 

At the next climb, the Cote de 
Stbckeu, Kilometer 178, slightly 
more than a kilometer at a grade of 12 
percent, Brignoli was the first rider 
over, followed by Totsehnig and then 
the pack, 3 minutes back. 

Not long after that, first Totsehnig 
and then Brignoli were caught and the 
real race began. The exact spot was 
Kilometer 193 of the 262, the start of 
die climb up the Cote de Rosier, 4 
kilometers wife a grade of 6 percent. 
There were still six hills ahead. 

Brignoli never did finish the race. 
Totsehnig did. He - was 108th of the 
112ridets*whomadeit.l5:55 behind 
the winner, Michele BartolL 

For his victory; Baitoli, an Italian 
wife MG, received 100 World Cup 
points, or enough to put him into a tie 
for die lead in fee 10-race compe- 
tition, 200 points in fee computer 
rankings, or enough to move him 
from fifth in die world to third, and 
500,000 Belgian francs ($14,300). 

Totsehnig gained no World Cup or 

^T^ish^, however, be won the 
kmg of the mountains prize, 100,000 
Belgian francs plus 10,000 more for 
each of the five hills he conquered- As 
the custom is, he shared fee money 
wife his teammates, keeping for him- 
self the exploit. 



Swc CnWBrmrn 

Flyers' winger Da ini as Zabrus, left, going after the puck, with the Penguins’ Ian Moran in close pursuit 

Flyers Shove Lemieux Toward Exit 

Pittsburgh Stands One Game From Early Playoff Elimination 


The Associated Press 

The suspense is almost over now, and 
Mario Lemieux knows it. 

The Philadelphia Flyers have too 
much for the Pittsburgh Penguins — too 
much talent, too much muscle, too much 
momentum. 

The Flyers pelted goaltender Ken 
Wregget wife 53 shots Monday night, a 
club playoff record. Lmemates Eric Lin- 
dros, John LeClair and Mikael Renberg 
scored in a 5-3 victory over the Pen- 
guins. 

Philadelphia leads 3-0 in die best-of- 
seven Eastern Conference series that 
could end as early as Game 4 on Wed- 
nesday in Pittsburgh. 

“You have to be realistic about our 
chances," said lemieux, who is retiring 
after die playoffs. “That’s a great team 
over there. They're bigger and stronger 
than we are. It's going to be hard to come 
back. They won a big game on fee road, 
and that's usually the key game.” 

The Flyers have outscored Pittsburgh 
13-5 in fee series. They outshot the 
Penguins 53-38 on Monday, setting 
team records for shots in a playoff game 
and in a single period — 28 in the first. 

Wregget made 27 saves in the first 
period, another playoff record, but fre- 
i himself 


quendy found 


defending 


against breakaway rushes. By the 
second period, those breakouts began 
turning into goals. 

“Any time a goalie sees that much 
rubber, he’s going to get tired,' ' said the 
Flyers’ Garth Snow, who won his third 
straight game in goal. 

When"* Wregget began to wear down, 
the Flyers sent their big forwards at him 

NHL PlAYOFFS 

and dared the Penguins to move them 
out of his way. 

Usually, they didn't, and fee Flyers 
benefited. The Penguins allowed Far Pal- 
loro to position hims elf beside fee net, 
and he steered in the Flyers' lying goal 
midway through the second period. 

“They're fee best in fee league at 
feat*' Lemieux said. “They drive to fee 
net and stay there. That’s the secret to 
feeir offense.” 

The Flyers trailed. 2-1, after one period 
despite their early shooting blitz. But they 
dominated the second period as Falloon, 
Lindros and LeClair scored. Falloon has 
three goals in fee series after scoring only 
11 during the regular season. 

Now, Lemieux ’s retirement might be 
roly hours away. “I really haven't 
thought much about it." Lemieux said. 


Sabres 3, Senators 2 Buffalo beat Ot- 
tawa on Dixon Ward's goal wife 20 
seconds remaining to take a 2-1 lead in 
another Eastern Conference series. 

But fee victory could prove costly for 
fee Sabres, who might have lost their 
star goaltender, Dornmik Hasek. for the 
rest of fee series. 

Hasek sprained his right knee late in 
fee second period while trying to stop a 
lying goal by Ottawa's Sergei Zholtok. 

“Maybe I’ll feel better when I wake 
up.” said Hasek, who is favored to win 
fee Hart Trophy as fee NHL’s most 
valuable player. “But right now I don't 
think I'll be back this series.” 

After Hasek was injured, he was re- 
placed by rookie Steve Shields, who 
quickly gave up the go-ahead goal to 
Alexei Yashin. Shields settled down, and 
the Sabres rallied to win on third-period 
goals by Darryl Shannon and Ward. 

“It’s a real gut-check time for our 
team to go and play as hard as we did. 
especially after Dominik went down,” 
Shields said. 

Shannon tied the game at 11:51 of the 
third period, blasting a slap shot be- 
tween Ron Tugnun's pads from fee top 
of fee face-off circle. Ward then got the 
-winner during a wild scramble in 
it of the Ottawa goal. 


Head of Russian Hockey Is Murdered 


spayed 
fire soon 


Reuters 

’"MOSCOW —The head of fee Rus- 
sian Ice Hockey Federation. Valentin 
Sych, was shot dead in an apparent 
contract killing early on Tuesday near 
his country villa outside Moscow. 

Police said Mr. Sych’s wife was 
wounded when an unidentified gunman 
‘ their car wife automatic rifle 
soon after they set off from fee town 
of Dmitrov toward Moscow. Although 
hit in fee leg, she was able to summon 
police by mobile phone. 

Police said they had no immediate 
clue to the motive. 

Mr. Sych, 60, whose national hockey 
squad is due to fly to Helsinki on Wed- 
nesday for fee world championships, 
had spoken out recently against fee in- 
volvement in sports of Russia's feriving 
criminal underworld and mafia-style 


gangs. He told Renters in an interview 
two months ago feat criminal activity in 
Russian sports was getting worse and 
that many players and officials were 
frightened of organized crime and fa- 
cing pressure to abet illegal ventures. 

“A nightmare, an absolute night- 
mare,” Nikolai Epshtein, one of Rus- 
sia's longest serving coaches, said of 
Mr. Sych’s death. “I'm speechless.” 
“This was a premeditated murder,” 
said Anatoli Kostxyukov, head of fee 
federation’s coaching council “I can- 
not understand how this could happen to 
him. This is a total outrage.” 

Police found the killer's car and gun 
close to the scene. 

For 20 years, up to 1989, Mr. Sych 
was on the Soviet Sports Committee, 
becoming deputy head in 1984. After a 
brief spell representing Russian winter 


sports at fee International Olympic 
Committee, he becamepresident of fee 
hockey federation in 1994. 


The links between crime and sport in 
Russia range from much rumored but 
seldom proved match-rigging to strong- 
arm attempts to take control of sports 
clubs and organizations. 

Numerous organizations in Russia, 
including fee state-run National Sports 
Fund, became prime targets for crim- 
inals because, until recently, they en- 
joyed huge tax breaks and customs priv- 
ileges, which allowed them to import 
alcohol, tobacco and domestic appli- 
ances cheaply. 

The then head of fee fund was shot 
and knifed outside his Moscow apart- 
ment last summer but survived and re- 
turned to accuse senior Kremlin aides of 
siphoning cash out of the fund. 


With 4 KBIs, 
Griffey Saves 
The Mariners 


The Associated Press 

Ken Griffey tripled in fee tying runs 
. in fee seventh inning before scoring the 
go-ahead run on Edgar Martinez's sac- 
rifice fly as fee Seattle Mariners beat the 
Kansas City Royals, 6-5. 

Griffey went 2-for-3 with four runs 
batted in Monday night, raising his ma- 
jor-league leading total to 25. His nine 
home runs lead fee American League 
and his 20 runs scored are also a league 
high. 

Seattle's starter, Randy Johnson, ap- 
pealed to be on the way to winning his 

Basis au. Roundup 

15th consecutive decision when his 
wildness allowed the Royals to tie fee 
game in the sixth. 

Johnson walked two, threw a wild 
pitch and gave up three hits in the inning. 
The left-hander gave up five hits, walked 
five and struck our five in six innings. 

“I think it was very apparent that I 
didn't have anything much today,” 
Johnson said. "But I’m not going to have 
a 98 mile-per-hour fastball every day.” 

The Royals then took the lead in fee 
seventh on Jeff King’s two-run homer 
off Bobby Ayala, 

Then Griffey saved fee Mariners. 

In the bottom of fee inning. Brian 
Bevil replaced Jose Rosado and walked 
pinch hitters Joey Cora and Paul Sor- 
rento before Alex Rodriguez hit into a 
fielder’s choice. 

Griffey followed wife his first triple 
of the season, and he slid home after 
Martinez’s shallow fly ball to right 
fielder Johnny Damon. 

Yankem 4, White Sox 3 Cecil Fielder, 
batting just .172, hit a tie-breaking 
double in the eighth inning as New York 
won three of four games at Chicago. 

With fee Yankees trailing, 3-2. Derek 
Jeter walked with one out in fee eighth, 
stole second and scored the tying run on 
Wade Boggs's single. 

After a steal ana an intentional walk 
to Tino Martinez, Fielder drove his 
double off fee left-field fence to score 
Pat Kelly, a pinch runner. 

David Cone got his first victory de- 
spite giving up a career-high eight walks 
and seven hits in seven innings. 

U g o re 7, Rangers 6 In Arlington, 
Texas. Melvin Nieves's three-run 
double off the glove of center fielder 
Damon Buford capped a five-run eighth 
for Detroit Going into fee eighth, the 
Tigers trailed, 5-3. 

PhWws 10 , Pirates 2 Terry Francona. 
Philadelphia's rookie manager, had a 
good night in Pittsburgh. His team beat 
the Pirates comfortably and his father. 
Tito, a former major leaguer, and bus- 
loads of fans from his hometown, nearby 
New Brighton, were there to cheer. 

The Phillies scored four runs in fee 
first inning. Mike Lieberthal hit a three- 
run homer and Wendell Magee Jr. added 
a run-scoring single. 

Cuba 6, Marts 4 Errors by Butch Hus- 
key and John Olerud led to a pair of 
unearned runs in the seventh inning as 
New York, gave Chicago three runs on 
three errors at Shea Stadium. 

Scott Servais drove in three runs for 
fee Cubs, and Frank Castillo allowed 
four runs and four hits in six innings. 

It was fee second straight victory for 
the Cubs after they started fee season 0- 
14. 

Angels 5, Blue Jays 4 Luis Alicea slid 
under the tag by catcher Charlie O’Bri- 
en wife one out in the bottom of the 13th 
for an Anaheim victory at home. 


DENNIS THE MENACE PEANUTS 


CALVIN AND HOBBES 


oumwatriw 

HDWJBBBTTO 

CALW.tJuaawsI 

iBHVBSJ.MD. 



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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, APRIL 23, 1997 


OBSERVER 

The Wannahe 


Mind Your Etiquette: The New Emily Post 


By Russell Baker 

N HW YORK — I'd like to 
be Martha Siewan. Then 
I would never have to interrupt 
my cooking to go shopping for 
the hand-woven Malaysian 
cheesecloth without which it 
is impossible to bake a brace 
of mallards to perfection. 

The rare cheesecloth would 
be right there in my incredibly 
neat cupboard on the beau- 
tifully decorated shelf where I 
keep my immaculate imported 
cheesecloths. I would know 
without having to consult a 
cookbook that hand-woven 
Malaysian is the only possible 
cheesecloth for baking a brace 
of mallards, just as wide- 
meshed Iranian cheesecloth is 
the only cheesecloth for bak- 
ing a pride of lions. 

All my friends would be 
envious and make cruel, cut- 
ting remarks about my per- 
fectly carved Halloween jack- 
o'-lanterns and my ability to 
slaughter and bone a 1.200- 
pound hog without wrinkling 
my apron or disturbing a sin- 
gle hair on my head. 


Sometimes, though. I’d 
like to be Norm. I would leave 
my whole family awestruck 
by driving a nail without split- 
ting the board, just the way 
Norm drives a nail on “This 
Old House." People would 
never again beg me to put 
down the crosscut saw before 
I amputated myself. 

My vast workshop would 
be stocked with the latest tools 
from the world's best tool- 
makers. When someone's 
house was falling down I 
would show him how to save it 
with my new nuclear-powered 
house straijghrener-upper. 

Other times I'd give up 
everything to be Dennis Rod- 
man. Then I would no longer 
have this boring hair nobody 


ever notices. Some days 1 
would have chartreuse hair, 
some days, aquamarine hair. 
Now and then, mauve hair. 

I would be able to look in 
the mirror and find out what 
chartreuse, aquamarine and 
mauve mean. Then decorators 
would respect me for knowing 
what I'm talking about when I 
tell them I prefer the couch in 
mauve rather than aquamarine 
and find their chartreuse bath- 
room simply de crop. 


I'd like to be Tom Cruise. 
Then when the dentist said I 
needed $3,000 worth of cos- 
metic tooth repair if I wanted to 
be handsome enough to get the 
girl in the end, I would laugh. 
“I always ger the girl in the end 
and what's more, they pay me 
520 million for my trouble." 

Afterward 1 would stick 
$20,000 or S30,000 in the 
pocket of his dentist's jacket 
and say. “Take the wife and 
kids to a ball game," so he 
wouldn't think I was jusr an- 
other nasty rich guy. 

Thai rat Adam Chandler 
doesn't worry one bit about 
people chinking he's a nasty 
rich guy. Year m and year out 
on "All My Children." Adam 
Chandler fights the good fight 
against the syrupy cult of the 
Nice Guy. That's why I'd like 
to be Adam Chandler. Then I 
would never again pretend 
that I'm a good loser. When 
anybody beat me at something 
I would hatch an ingenious 
plot to bankrupt his company 
and, if he didn't have a com- 
pany, to ruin his marriage. 

Shamelessly double-cross- 
ing friends and lovers while 
amassing millions in dishon- 
orable business schemes. I 
would exult at last in the free- 
dom to cry, "No more Mr. 
Nice Guy!" Still, sometimes 
I'd like to be the Reverend 
Jerry — oh well, never mind. 

Neve York Times Service 


By Enid Nemy 

Afar Kwi Times Service 

N EW YORK — Who needs it? 

Not you! You know which forte 
to use when. You never crook your 


think the question rude but says. 
"I'm in the middle” — advised 
answering with humor and offered 
some alternatives: “Old enough to 
know better." “49 and holding." 

Her own age? “I'm starting this 


menis. Etiquette? Get serious! 

Thai attitude is likely to give a 
high priestess of manners a hissy 
fit. Most people, it seems, haven ’t a 
clue what etiquette means. 


guide. “Etiquette: The Blue Book 
of Social Usage.** was published. 

Wien she died in 1960. she had 
completely revised the book nine 


Etiquette, in the 1990s, is about times. It is still, according to a 
niceties like not cutting off motor- spokesman for the 435 Barnes & 


ists when switch- 
ing lanes, or not 
swatting anyone 
with your hack- 
pack on the sub- 
way. "Etiquette is 
a code of behavior 
based on consider- 
ation and thought- 
fulness. and it’s a 


Tm starting this 
about the same 
a ge as Emily did, 1 
Peggy Post said. 


Noble stores in the 
United States, the 
best-selling book 
in its category. 

Reflecting the 
changes in society. 
Peggy Post’s style 
is not quite as for- 
mal as Emily 
Post's, but neither 


fallacy that only certain people need is it as breezy or irreverent as many 
it," said Peggy Post, a great-grand- of the current crop of etiquette 
daughter-in-law of Emily Post, the books. “This is a reference book," 
doyenne of die etiquette gurus who she said firmly, 
for almost eight decades has stood Margaret ( Peggy i Post, w ho was 
for what's proper in social behavior, bom in Washington, was a man- 
Peggy Post has inherited the legacy: ager at Chemical Bank in New* 
She has just updated "Emily Post’s York when she met Allen Post, an 
Etiquette” for the 75th-anniversaiy investment counselor, in 1977. 
edition, which will be published by “I was taken aback when I found 

HarperCollins next month. “The out who he was." she recalled of 
whole thing about etiquette is to their first dinner dare, when a ref- 
make life easier,” Post said, "not to erence to another Emily prompted 
make it more formal or rigid. Every- a mention of his great -grandmoth- 


one needs guidelines. ' ’ 


er. “But he was such a natural, 


What is also needed before tack- down-to-earth person I didn't think 
ling the new volume, the 16th edi- about it." They married in 1979 
non. is a session or two of strength and live in Fairfield County. Con- 
training. The new dos and don'ts of necticut. 


making life easier take up 845 
tightly packed pages. Is it O.K. to cut 
lettuce in a salad? Yes. (The taboo 
started because knives used to be- 
come corroded from salad dressing. ) 
Brides should perk up at this one: 
there's no reason why the bride- 
groom shouldn't do his share of note 
writing, and many more now do. 

On the subject of personal ques- 
tions: How do you answer someone 


It wasn't until after raising two 
stepsons that she began her ap- 

E renticeship with the Emily Post 
istirute. the umbrella organization 
for the Emily Post franchise, which 
includes 13 books, a Good House- 
keeping magazine column that has 
run for” 25 years and etiquette lec- 
tures. Soon she was making ap- 
pearances at bridal events with 
Elizabeth Post, her mother-in-law 



Vinaio >. LoWTVk 1 \r» tariTitKi 

Peggy Post has revised her great-grandmother-in-law’s guide. 


who asks your age, assuming you and Emily's granddaughter-in-law. 
don’t wantto reveal it? Post — who who revised the book five times 
acknowledges that some people between 1965 and 1992. On Eliza- 


beth’s retirement in 1995, Peggy 
Post took over the Good House- 
keeping column (“How do you eat 
a cherry tomato? Carefully!'*) and 
started working on the new edition 
of the book. Elizabeth Post's 
daughter and three sons were “not 
inclined'' to take on their mother's 
work, Peggy Post said. 

“I’ve tried to make it more mul- 


ticultural, more relevant.' ’ she said. 
There are lists of holy days for 
Buddhists, Christians, Hindus, 
Muslims. Jehovah's Witnesses and 
Jews; suggestions on the legal as- 
pects of living together and how 
single mothers might deal with 
their children's questions on par- 
entage, and advice on public dis- 
plays of affection. (“Holding 


hands, affectionate greetings ac- 
SSinied by a kiss on the cheek, 
STSfck hug, are «*• 

Stable in public- Passion is 
>. And a V - of * e 
word “servant 5 ^ is out. It's now 
staff member or housekeeper. 

What to do when ethnic jokes are 
told? There’s no need to laugh or 
silently support such a display of 
noor taste, Post writes. You may 
Sy say: ‘I don’t siOTtort what 
you’re saying’ or Tdon t like jokes 
to belittle people,’ or simply get 

Up ^qtichSmgfup Judith Martin’s 
theory that although there is still a 
long way ro go, there has been a 
vast improvement in etiquette m 
this country since Emily Post s 
day. What’s that again? This from 
the etiquette raaven who wrote 
“Miss Manners Rescues Civiliza- 
tion” (Crown Publishers) and four 
other Miss Manners books? Ra- 
cism and sexism no longer meet 
with social approval." she ex- 
plained. What have racism and sex- 
Esm to do with etiquette? ' Eti- 
quette is for respect and dignity,' 
she said. “It is human social be- 
havior.” 

And what about the general state 
of manners? Serious and alarming 
axe two of the words used, but Post, 
Martin and Letitia Baldrige, who 
has seven etiquette books under her 
belt, main tain nevertheless thai the 
pendulum is swinging. 

Martin points out mat more than 
a generation ago society went 
through a phase of deploring any- 
thing artificial and asked. Why 
can’t people just behave naturally? 
Then, the reaction was, “Everyone 
is so rude, so disgusting. 

“The kids who got away with it 
now know better. * Martin said, 
“and they're not going to let their 
children get away with it. £ think 
etiquette is on the upswing." 

Post concurred: “There’s alot of 
discussion about people being rude 
and uncivil. They now want some 
control over their lives. ’ 1 Sounding 
very much like Emily Post, she 
added, “They are looking for a 
sense of order.” 








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Cannes Film Festival Announces the 1997 Lineup 

S IX American films, including Johnny THE OFFICIAL SELECTION 
Depp’s directing debut. "The Brave," May 7-18 

led the list of selections announced Tuesday in competition: ’ 

for the 50th Cannes Film Festival, which runs "The Fifth Element." Luc Bessoo. France 

from May 7 to 18 Other directing debuts in Stwiochio. luly 

competition include Gary Oldman, Bntam. Cali it Love." Nick Cassavetes, ujs. 


PEOPLE 



tor “Nil by Mouth” and Samantha Lang, 
Australia, for “The Well" France has four 
films, and Britain and Italy each have three in 
the official selection of 28 films. Opening die 
festival will be “The Fifth Element" by Luc 
Besson of France, and closing, out of com- 
petition. is Clint Eastwood's “Absolute 
Power.’ ’ Organizers plan special celebrations 
marking the festival's 50th anniversary, in- 
cluding die presentation of the Palm of Palms 
to Ingznar Bergman. GiUes Jacob, the di- 
rector of the festival, also announced that 
Chinese authorities had confiscated the pass- 
port of the director Zhang Yuan, whose 
“East Palace West Palace ’ ' will be presented 
in the “Certain Regard" section of die fes- 
tival 4 ‘If he were prevented from coming, and 
unfortunately there have been precedents,” 
Jacob said, “we shall make no attempt to 
replace him and his chair will stay empty.” 
(Related article. Page 10) 


THE OFFICIAL SELECTION 
May 7-18 

IN COMPETITION: 

“The Fifth Element." Luc Bcssoa. France 
"The Ice Slorat.*' Aag Lee. Taiwan 
"II Principe di Hombourg." Marco Bellochio. luly 
"CaU it Love." Nick Cassavetes. U4>. 

“The Brave." Johnny Depp. U.S. 

■ ‘The Sweet Hereafter' ' (De Beaut Lendemainsi. Atom 
Egoyan. Canada 

"Funny Games," Michael Handle. Austria 
"LA. Canfideimol," Curtis Hanson. U.S. 

"La Femme Defend ur." Philippe Hard. France 

"Unagi." Sfaohci Imamura. Japan 

"Assassins." Maohicu Kasjov'itz. France 

"The Well." Samantha Lane. Australia 

"Nil by Mouth." Gary Oldman, UJL 

"Kim « Adams." hlrissa Ouedmogo. Burkina Faso 

"Western." Manuel Poirier, France 

"La Tregua." Francesco Rcei. tialy 

"Happy Together." Wong Kar-Wai, Hong Kong 

' ‘The Bid of Violence." Wim Wenders. Germany 

"Welcome to Sarajevo." Michael Wintertaottom. ILK. 

"Keep CooL" Zhang Yimou, China 

OUT OF COMPETITION: 

"Hamlet," Kenneth Branagh. UJC 
"A! Mussir." Youssef Outline. Egypt 
" Black Out.' ’ Abd Ferrara. UJS. 

"Nirvana." Gabriele Salvatores. Italy 
"Viagem ao Principio do Mundo." ManocI de Oliveira. 
Portugal 

"Ghosts." Stan Winston, U.5. 

* ‘Welcome to Woop Woop." Stephan Elton, Australia. 
"Absolute Power." Clint Eastwood. ILS. 


T HE director of Vienna’s Burg- 
theater, Claus Peymann. will 
take over as bead of the Berliner 
Ensemble beginning in 1999 amid 
continuing attempts by the celebrat- 
ed German theater to redefine itself 
in the post-Communist era. The Ber- 
liner Ensemble, founded in East Ber- 
lin by Bertolt Brecht in 1949, has 
been dogged by problems since the 
collapse of the Wall. The actor Mar- 
tin mittke. who rook over as head 
of the theater in 1995 after the death 
of the playwright Heiner Mueller, 
quit last December in protest at what 
he described as inadequate public 
funding. 


Jerry Seinfeld has broken up with 
his longtime love, Shoshanna Lon- 
Stein, the New York Post reported. 
The couple called it quits in February 
after five years together, and Lon- 
stein. 2 1 , a senior at the University of 
California at Los Angeles, headed 
back to her family in New York, the 
paper said. Friends of the 41 -year- 


old comedian confirmed the breakup 
after photos surfaced in the Globe 
newspaper last weekend of Lonstein 
kissing another man. 


Thirteen letters from Margaret 
Mitchell, the author of “Gone With 
the Wind." to an early suitor and 
lifelong friend sold for $32,200 at 
Christie’s in New York. Mitchell 
wrote the letters to Henry Love An- 
gel, who died in 1945. She died four 
years later. The letters and a signed 
manuscript of “Lost Laysen." a 
Mitchell novella, surfaced in 1994 at 
the home of Angel’s son. Bidding on 
the 1916 manuscript, written 20 
years before "Gone With the 
Wind," failed to reach the minimum, 
Christie’s said. 


The Rock and Roll Hall of Fame is 
about to get a big. multicolored 
memento of the ’60s. The author 
Ken Kesey is putting the final 
touches on the 1947 bus that will be 


shipped to Cleveland, Ohio, to be the 
centerpiece of the hall's "I Want to 
Take You Higher: The Psychedelic 
Era 1 965-69" exhibition, which is to 
open on May 10, Kesey said tbebos 
would be parked between John Len- 
non’s Rolls-Royce and Janis 
Joplin's Porsche. The bus is the suc- 
cessor to the 1939 school bus used 
by the Merry Pranksters in a 1964 
cross-country odyssey chronicled in 
Tom Wolfe’s 1968 book, “The 
Electric Kool-Aid Acid Test” The 
original bus is now rusting away in 
the woods behind Kesey’s home in 
Oregon. 


Woody Alien has been wandering 
from club to club since the closing 
last year of Michael’s Pub in New 
York, where he had played clarinet 
every Monday night for die past 25 
years. But bis wandering days are 
over. He now has a regular gig for an 
undetermined length of time at the 
elegant Cafe Carlysle in the Carlysle 
Hotel. 



Uk*d UpcHWTl* Anootwl Flat 

PROTEST SONG — Singer Ju-<* 
tietle Greco at a news conference tor 
promote preservation of the Saint- 
Germain-des-Pres area in Paris.' 


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