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INTERNATIONAL 



Srihiml 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


The World’s Daily Newspaper 


Paris, Saturday-Sunday, April 26-27, 1997 



No. 35,506 


Toxic- Arms Vote Boosts 
Clinton’s Foreign Policy 


By Helen Dewar 

Washing ton Post Service 


WASHINGTON — The Senate has 
handed President Bill Clinton a major 
foreign policy victory in approving the 
global treaty banning the production 
and use of chemical weapons. 

Mr. Clmlon signed die instrument of 
ratification Friday and, speaking at a 
press conference minutes later, called 
the Senate vote "a clear signal of re- 
solve' ’ to mam tain U.S. leadership in 
the worid. He said the convention “ will 
keep our soldiers and citizens safer.” 
The treaty was approved Thursday 
night by a larger-than-expected vote of 
74 to 26, with29 Republicans joining all 
45 Democrats in voting- for it. With 
more than, half of Senate Republicans 
sup po rti ng it, die pact received sewn 
votes more than the two-thirds majority 
required to ratify treaties. 

Treaty supporters also stripped out 



Also (rain in 



Deal on Pact 


By Thomas W. Lippman 
and Peter Baker 

Washin gton Po st Service 

WASHINGTON — In its successful 
campaign to win Senate approval of the 
treaty banning chemical weapons, the 
Clinton administration gave Republi- 
cans concessions on a range of other 


national security issues, including the 
payment of back dues to die United 
Nations and approval of arms control 
agreeme n t s with Russia. 

-■ President Bill Clinton hailed the out- 
come as a victory for bipartisanship in 
foreign policy and suggested that the 

~ NEWS ANALYSIS ~ " 

vigorous negotiations could be a model 
for similar deals over domestic issues, 
such as balancing die budget 

Still, in pressing for Senate assent to 
die pact, the admmstratioa offered ini- 
tiatives and concessions that will 
strengthen the hands of the Senate ma- 
jority leader, Trent Lott of Mississippi, 
and die Foreign Relations Committee 
chairman, Jesse Helms of North Car- 
olina, on other key unresolved issues. 

The administration designed the 
trade-offs U> show Mr. Lott and Mr. 
Helms that their concerns and die Sen- 
ate’s prerogatives are taken seriously by 
the White House, administration offi- 
cials said. Hus effort succeeded when 
Mr. Helms let the treaty emerge from his 
committeefor a Senate vote and Mr. Lott 
agreed at the last minute to support it 

No part of the concession package is 
specifically linked to any other part, 
administration officials and Mr. Lott 
said. 

But in practice Mr. Helms is assured 
that in exchange for letting the pact out 
of his committee be will get the re- 
organization of the government’s for- 
eign policy agencies that he has long 
sought and wul have a strong voice in 
deciding whether and bow to begin re- 
paying mis country’s debt to the Unii 
Nations. 

Those were prices Mr. Clinton was 
willing to; 
portance 

chemical weapons and because he knew 
his credibility as president was at stake. 
What was given away, die White House 
concluded, was far less than what was 
gained — the biggest legislative victory 
of the president’s second term. 

From the start, administration offi- 
cials said, they recognized that Mr. 
Helms, a determined roe of the treaty. 

See POLICY, Page 7 


Jnited 


were prices Mr. Clinton was 
> pay, both because of the im- 
he attached to el im i n ati n g 


The Dollar 


NmYoifc Friday C A PAi. piwkwelo— 


DM 


1.7274 


1.7152 


Pound 


1.6245 


1.626 


Yen 


126.30 


126.10 


5.8295 


5.7855 



•53.38 


changa 

- 5.81 


6738.87 


S&P 500 


6792L25 


Friday O 4 P-M pwvfcmsdow 


765.37 


771.16 


Newstnnd Prices 

Andorra 10.00 FF Morocco. 


16 Oh 

Antflas..... 1250 FF Qatar 10JJ0 Rials 

Cameroon ..1.600CFA Reunion 1250 FF 

Egypt 5E550 Saudi Arabia. ..1 0-00 R. 

France -...10.00 FF I.IOOCFA 


Gabon 1 100 CFA - ^ 225 PTAS 

Italy — - 2 .800 lira . - ■ . gen ran 

K oa8, ;!So c S EEi ziSm 

Lebanon. 3 ... LL 3.000 U-S. (Eur-)..-Sl -20 



five provisions demanded by Senator 
Jesse Helms of North Carolina, the For- 
eign Relations Committee rfm^Tnan, 
and other treaty foes, and adamantly 
opposed by the administration as treaty 
* ‘Jailers or. threats to implementatio n 
{Russia’s lower house of Parliament 
ratification Friday, saying it 
l Western funds and more time to 
destroy its stockpile, Reuters reported. 
The State Duma sent a statement to other 
participating countries saying it would 
try to ratify it in a few months.] 

Mr. Qifltan had staked a large mea- 
sure of his prestige at home and abroad 
on the outcome, lobbying long and hard 
for its approval in the face of con- 
servative Republican opposition. 

Approval was assured after Senator 
Trent Lott of Mississippi, the majority 
leader, endorsed the treaty in mid- af- 
ternoon. Mr. Lott, whose position was 
seen as the key to a dozen or more 
Republican votes, said he was persuaded 
largely by White House agreement to a 
long list of treaty clarifications. 

He said the clincher came when Mr. 
Clinton sent him a letter pledging to 
withdraw from the treaty if other coun- 
tries exploited its provisions to en- 
danger the security of the United Stales 
or spread technology for development 
of poison gas weapons — an elaboration 
on earlier administration assurances. 

“I believe the U.S. is marginally bet- 
ter off with the treaty, than without it,” 
Mr. Lott said. 

' He conceded that it might be difficult 
to verify and enforce, and it may not 
“rid the world of poison gas.” But. he 
said, there would be “real and lasting 
consequences to the United States” rf 
the treaty were rejected, casting doubts 
on die credibility of the nation's foreign 
policy and its stature in die world. 

Nfr. Clinton, hailing the vote in a late- 
night appearance in the White House 
briefing room, lavished praise on Mr. 
Loti for working with him and said he 
hoped to take advantage of die same 
spirit of constructive negotiations to 
forge a balanced budget. 

‘ ‘This vote is an example of America 
working as it should.' Democrats and 
Republicans working together, putting 
our country first, reaching across party 

, See TREATY, Page 7 



Imm 


Deputy Prime Minister Tansu Ciller, meeting the press Friday, says her party won’t pull out of the coalition. 

War of Nerves Heats Up in Turkey 


By Kelly Couturier 

Special to the International HemUTribiutf 

ANKARA — The Turkish govern- 
ment appeared on the brink of collapse 
Friday as tension between the staunchly 
secular military and the pro- Islamic 
Welfare Party deepened. 

As Prime Minister Neeme trin 
Erbakan, leader of the Welfare Party, 
completed a round of meetings with 
civilian and military leaders a day be- 
fore a key meeting of the military-dom- 
inated' National Security Council, op- 
position leaders and political analysts 
said the 10-month Islamist-led coalition 
government was living its final days. 

Saying the coalition’s “natural life" 
had already expired, the leftist oppo- 
sition leader, Birient Ecevit, added, 
“It’s legal life is also about to expire:” 


Doubts about the future of the co- 
alition were even surfacing within the 
Welfare Party, which has dismissed un- 
til now any notion of leaving the gov- 
ernment. “It seems that we have our 
back to foe wall.” Minister of State 
Abdullah Gul was quoted in the local 
press as saying. 

Worries about the fate of the gov- 
ernment caused the Istanbul stock ex- 
change to dose 4.9 percent lower. 

The content of Mr. Erbakan’s talks 
with civilian and military leaders was 
not disclosed, but analysts said they most 
likely focused on a series of measures foe 
military wants foe government to im- 
plement to counter Islamic radicalism. 

Mr. Erbakan has dragged his feet on 
carrying out the measures, which in- 
clude a ban on pro-Sharia propaganda 
on television and radio, tighter restric- 


tions on religious dress and purges of 
Islamist activists from state offices. 
Sharia is the Islamic legal code. 

The military is also seeking stricter 
surveillance of donations to political 
parties from religious organizations and 
an overhaul of the education system to 
discourage the growth of religious 
middle and high schools. 

The Security Council, which includes 
the nation's top five military leaders as 
well as senior government officials, 
presented the measures to the govern- 
ment in February and is expected to 
review its performance in implementing 
them at its meeting Saturday. The coun- 
cil, nominally a consultative body, has 
in practice dictated policy to civilian 
governments. 

See TURKEY, Page 7 


Booming Brazil and Argentina Lure Automakers 


By Keith Bradsher 

New York Times Service 


SAO JOSE DOS CAMPOS, Brazil — Since the 
days of Marco Polo, foe possibilities in Asia have 
captivated traders, merchants and business, exec- 
utives. It is foe continent of tomorrow, experts say, 
and when a company the size of General Motors 
sinks $750 million into Thailand and $2 billion into 
China, it makes for big headlines. 

But in Brazil and Argentina, much closer to home, 
foe world’s biggest automaker has committed $4 
billion. And while there are few headlines back 
home, there is plenty of money to be made today. 

After a half-century of false starts, Brazil and 
Argentina are booming and a large upper middle 
class is emerging with money to spend Auto ex- 
ecutives around foe world have concluded that the 
two countries, which taken together make up 80 
percent of South America’s auto sales, represent an 


even more lucrative market than Southeast Asia or 
Eastern Europe. 

And so. faced with little or no growth at home, 
U.S., European and Japanese carmakers are pouring 
a total of $18 billion into new South American 
factories, convinced that foe recent double-digit sales 
growth will continue. 

As a single market, Brazil and Argentina "will 
pass Germany and become one of foe top three 
markets in foe world, behind the United States and 
Japan,” predicts Mark Hogan, president of General 
Motors of Brazil Ltd. 

Not everyone sees it Mr. Hogan's way, but most 
auto executives agree that unlike other developing 
markets where profits are anticipated down the road, 
there are plenty to go around now in this pan of the 
world. GM’s profits in Soutb America, for example, 
are higher than anywhere else. 

The prosperity" is readily apparent at GM’s palm- 
fringed factory in Sao Jose dos Campos, about 100 


kilometers (62 miles) northwest of Sao Paulo. The 
factory's highly automated assembly lines operate 
23 hours and 15 minutes aday and still do not keep up 
with demand. 

So many employees are now able to afford the 
Chevrolet Corsa, a tiny car too small for U.S. tastes, 
that there is a critical shortage of spaces in foe 
employee lot. 

Chrysler Corp. has such confidence in this market 
that it will open its first new factory in a developing 
country since 1965, on April 25 in Cordoba, Ar- 
gentina. 

The main reason for the auto boom has been a 
resurgence of economic growth. In both Brazil and 
Argentina the growth of economic output is expected 
to surpass 4 percent this year and next, putting them 
ahead of foe United States. Japan and Europe and in a 
league with the Philippines and the Czech Republic. 

See CARS, Page 7 


U.S. Forges 
Deal to Curb 
Trade Gap 
With Japan 

Both Nations Agree 
To Work to Prevent 
‘Significant’ Increase 

hr Oar Stag Frrwn Dtspotcha 

WASHINGTON — The United 
States and Japan have agreed cm the 
need to avert another major increase in 
Tokyo's trade surplus and plan to step 
up talks on deregulating the Japanese 
economy. President Bill Clinton said 
Friday. 

Mr. Clinton, speaking at a While 
House news conference after meeting in 
the Oval Office with the Japanese prime 
minister, Ryutaro Hashimoto, also 
pledged to carry out "in good faith" 
measures to reduce the burden on Tokyo 
of U.S. military bases in Japan. 

“We both want to promote strong 
domestic, demand-led growth in Japan 
and to avoid a significant increase in 
Japan's external surplus," Mr. Clinton 
said. 

"These are essential to sustaining foe 
progress that has been made." 

Mr. Clinton added that an "ambi- 
tious" economic reform program in Ja- 
pan would prove beneficial to both 
countries as well as other foreign busi- 
ness, but said that further negotiations 
on improving market access in Japan 
were needed. 

"We have agreed to intensify talks on 
deregulation under our framework 
agreement," he said. 

Mr. Hashimoto acknowledged that he 
had discussed Japan's trade surplus with 
the United States in his talks with Mr. 
Clinton. 

But he stressed that they had agreed 
not that foe surplus should not grow, but 
that it should not show a "significant” 
increase. 

“We would not like to see any sig- 
nificant increase in Japan’s surplus,” 
Mr. Hashimoto said. 

Mr. Clinton also said that the United 
Slates was "very aware that our pres- 
ence has imposed burdens on foe people 
of Okinawa." 

For his part. Mr. Hashimoto said Ja- 
pan appreciated the Clinton adminis- 
tration's efforts to consolidate its mil- 
itary bases on Okinawa. 

He said foal Japan had "no inten- 
tion" of asking the United States to cut 
its troop presence. 

There are about 45,000 U.S. troops in 
Japan, mostly on foe southern island of 
Olunawa. 

"We are proceeding in good faith," 
Mr. Cl intern said, to carry out a series of 
steps agreed to last year to make foe U.S. 
military presence on Okinawa less bur- 
densome. 

Mr. Hashimoto delicately addressed 
foe size of the U.S. military presence in 
Okinawa, saying he would not ask for 
troop cuts because of “many spots of 
instability and uncertainty" in the re- 
gion. 

See JAPAN, Page 7 


Prague Weighs Words 

Prosecution of Far-Rightistfor Hate Speech 
Raises Concerns Over Preserving Democracy 


By Dean E. Murphy 

Los Angeles Times 


PRAGUE — Ask anyone here about 
Miroslav Sladek and the reply is usually 
foe same. Silence. He is not someone 
most Czechs like to talk about, and they 
would prefer it if he kept his mouth Shut 
as well. 

The leader of the far-right Republican 
Party can be charming: admirers find his 
sparkling blue eyes especially enchant- 
ing. The problem comes when he speaks 
his mind, or sometimes worse, acts out 
his anger. 

Mr. Sladek once shoved a woman — 
foe mother of a government spokesman 
— against a glass door after they argued 
over politics at a beauty salon. He has 
promised to award an Alfa Romeo to the 
Czech town that evicts die most 
Gypsies, a small but unpopular minority 
across Europe. Many or his constituents 
believe foe greatest Gypsy crime is be- 


ing bom at all, be told bis fellow le- 
gislators last year. 

Extreme nationalists are not hard to 
come by in European politics, from 
Jean-Marie Le Pen in France to Vladi- 
mir Zhirinovsky in Russia. 

What makes Mr. Sladek significant is 
that he may end up behind bars for his 
beliefs — the first democratically elect- 
ed political leader in the former Eastern 
bloc facing such a punishment since the 
overthrow of communism. 

“His statements are racist, anti- 
Semitic and xenophobic,” said Jan 
Jirak, an analyst at Charles University in 
Prague. “They represent the worst of 
hale speech, winch for historical rea- 
sons is regulated by law in this coun- 
try.”. 

Despite general disdain for Mr. 
Sladek’s bigoted politics, his extraor- 
dinary criminal prosecution for an in- 

See CZECH, Page 7 


AGENDA 


UN Demands End to Israeli Building Project in Jerusalem 


UNITED NATIONS, New York 
(Reuters) — A special session of die 
UN General Assembly demanded an 
immediate halt Friday to foe construc- 
tion of an Israeli settlement in East 
Jerusalem and called for an end to all 
assistance to “illegal Israeli activit- 
ies” in the occupied territories. 

The vote was 134 to 3, with 11 
abstentions. The countries that voted 


against foe move were the United 
States, Israel and Micronesia. 

The countries that abstained were 
Australia, Canada, Germany, Latvia, 
Liberia, Lithuania, Marshall Islands, 
Norway, Romania, Rwanda and Ur- 
uguay. By abstaining, Germany broke 
ranks with its European Union part- 
ners. 

The special session was the fourth 



time a United Nations body debated an 
Israeli decision last month to build 
6,500 homes for Jews at foe site, called 
Har Homa in Hebrew and Jabal Abu 
Ghneim in Arabic. 

A U.S. veto last month sparked Pal- 
estinian protests when it prevented foe 
UN Security Council from taking ac- 
tion to call on Israel not to proceed 
with the housing project 

THE AMERICAS Page 3. 

Court Seta US. Rules on Tobacco 


VBwijnn Odo/Rouen 

UNSURE IN TOKYO — Policyholders conferring at Nissan Mutual 
Life Insurance Co„ shut down Friday by the government. Page 9. 


INTERNATIONAL 

Page 4. 

Zaire Generals Think of Themselves 

Books 

.... Page 4. 

Opinion 

Page 6. 

Sports 

. Pages 18-19. 

International Classified 

Page 13. 

| The 1HT on-line httpr/A 

vvviy.ihl.com J 


Huge and Rich Bed of Dinosaur Fossils Found in Remote China 


By Malcolm W. Browne 

New York Times Service 


PHILADELPHIA — An international team of 
paleontologists has announced the discovery of a 
fabulous trove of dinosaur fossils in a remote 
region of northeast China. 

Hundreds of major finds at foe site include foe 
first fossilized internal organs of dinosaurs ever 
seen and foe first fossil of a dinosaur containing a 
mammal it had just eaten. 

Many of the specimens excavated from foe site 
seem to bear on foe question of kinship between 


dinosaurs and birds, although the wealth of puz- 
zling fossils seems more likely at this stage to 
inflame debates over the origin of birds than to 
settle diem. 

Amonespecimens recently recovered from the 
site by a Chinese team were more than 200 fossils 
of a primitive bird. Confucius omis, together with 
many species of dinosaurs, mammals, insects and 
plants — an apparently complete record of the life 
there at the instant in the late Jurassic or early 
Cretaceous period, roughly 200 million years ago, 
when it was suddenly wiped out. 

The scientists surmise that a brief but lethal 


catastrophe, perhaps a huge volcanic eruption, 
killed and buried everything there, possibly even 
bacteria. 

The announcement of the find and of an agree- 
ment by China to permit international cooperation 
in the study of the site was made Thursday at a 
meeting at the Academy of Natural Sciences in 
Philadelphia. Four American paleontologists and 
one German paleontologist, chosen because of foe 
diversity of foeirexperience and views, reported on 
a reconnaissance trip to China they completed two 
weeks ago. 

The Site, near the village of Beipiao in Liaoning 


Province in northeastern China was discovered by 
a local farmer who realized foe potential scientific 
value of a fossil he found, which looked as much 
like a bird as a dinosaur and which seemed to have 
a feathery crest — perhaps some form of primitive 
feathers or fur. He split the rocky specimen in 
half, selling one half to scientific institutions in 
Beijing and the other half to their rivals in 
Nanjing. 

Although foe new trove was nor announced until 
Thursday, photographs of this transitional animal 

See FOSSILS, Page 7 


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: PAGE 2 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 26-27, 1997 


Major Pounds Blair for ‘Desperate’ Maneuver on Pensions 



CaijwM hr Ow hdfFnn Dupj* hn 

LONDON — Britain’s election cam- 
paign plumbed new depths of bitterness 
Friday as Prime Minister John Major 
accused the opposition leader, Tony 
■Blair, of scurrilous scaremongering 
1 over the governing Conservatives’ pen- 
. sion plans. 

With the vote just days away, a furi- 
ous Mr. Major said it was “absolutely 
contemptible” for Labour to frighten 
elderly people into thinking their pen- 
sion could be at risk. 

Mr. Blair, zeroing in on a- Tory pro- 
posal to privatize parts of the govern- 
ment pension scheme, claimed a fifth 
Conservative government would do 
away with state pensions entirely. 

The accusation touched a raw nerve 
in a country where pensioners represent 
a sizable pan of the electorate. The 
election is on Thursday. 

"Heaven alone (mows how desperate 
their campaign must be getting if they 
are prepared to stoop to tactics like 
this, Mr. Major said at his daily news 


conference. He said he had never come 
across such coldly calculated scaremon- 
gering. “This is just the politics of crude 
fantasy — scurrilous, unscrupulous 
campaigning in order to win votes from 
people whom they wish to frighten.” 

“This sort of scare is a wholly dif- 
ferent dimension. It really brings pol- 
itics down into the 
gutter,” he added. 

Mr. Blair, ap- 
parently delighted 
with the reaction 

his charge elicited, 

repeated it on television and said: “I do 
not withdraw a single iota of it. There is 
no doubt that the purpose is to replace 
the basic state pension with a private 
pension.** 

The six-week campaign has been 
hard-fought, wiih negative campaign- 
ing on both sides and exchanges in- 
creasingly centered on the two leaders 
and which one the electors can trust 

Two polls published Friday gave La- 
bour leads over the Conservatives of 16 


and 18 percentage points, dwarfing the 
4.3 percent swing it needs to capture 
power for the first time since 1979. 

But Labour strategists have made a 
deliberate decision in the final stretch of 
the campaign to supplement their 
party's positive agenda with a raw ex- 
pose of what they see as the dangers of 


This sort of scare is a wholly different dimension. 
It really brings polities down into the gutter. 7 

an unprecedented fifth Conservative 
victory in a row. 

Mr. Blair, under questioning at his 
daily news conference, denied ms party 
was willfully misleading pensioners. 

He said that the government had 
failed to answer key questions about the 
cost of its complex pension proposals, 
which envisage that young people start- 
ing work will build up a personal pen- 
sion fund underpinned by a state guar- 
antee. 


Labour’s economics spokesman, 
Gordon Brown, said the government 
was in near panic because of Labour's 
line of attack. 

Mr. Major was already seething when 
he walked into his daily campaign press 
briefing Friday, and persistent questions 
on pensions, and over broken Tory 
promises not to 
raise value-added 
tax on home heat- 
ing — another pen- 
sioner issue — 
— only infuriated him 

more. 

At one point Mr. Major vowed, “I 
would not only leave Downing Street, I 
would leave politics and I would rail a 
general election" before allowing the 
state pension to be abolished. 

Mr. Major said that when he was bom 
his father had already retired and he felt 
so strongly about maintaining a guar- 
anteed state pension that he would resign 
as prime minister if Ins cabinet ever 
overruled him cm the issue. 


He told BBC Radio that his pension 
reform was a ‘ ‘one-way bet: people cat 
be better off, but nobooy is going to be 
worse off.” 

“Whai we are proposing far young 
people entering the work force is to set 
up for them a specific new scheme that 
will probably ensure that their pensions 
are far higher, when they come to retire 
in 40 years’ time, than anybody could 
ever have imagined before, ’ ’ the prime 
minister said. 

The dispute overshadowed figures 
Showing that Britain’s economic output 
jumped I percent in the first three 
months of the year. • 

Economists said interest rates would 
have to be raised to cool the economy 
whoever won the election, but Mr. Ma- 
jor said Britain was on course for con- 
tinued steady growth. (Page 11) 
“We’ve broken the boom-bust 
cycle,' ’ he said, clearly exasperated that 
voters are not giving his party enough 
credit for what he called Britain ’s ‘ ‘eco- 
nomic miracle. ’ ’ (Reuters, AFP ) 


2 Bombs Near Highway 
Disrupt English Traffic 


C-jmprM tn Oi* SutfFrun DaptmHn 

LONDON — Two bombs blew up 
next to a superhighway in central Eng- 
land on Friday in what appeared to be 
the latest Irish guerrilla attempt to dis- 
rupt Britain's election campaign. 

The police also carried out a con- 
trolled explosion at Luton airport,- north 
of London, after a suspect device was 
found in the terminal. 

The police had closed parts of the M6 
motorway after receiving coded warn- 
ings but one of the devices exploded 
near to a section of the road that had 
been left open. There were no reports of 
casualties. One blast slightly damaged a 
132,000-volt electricity pylon. 

‘ ‘That these explosions were so dose 
to people's homes is despicable,” said 
Chief Inspector Steve Dugmore of the 
West Midlands police. “If the pylon had 
fallen in one direction it would have 
fallen onto the M6 where drivers at 
rush-hour were going to work. If it had 
fallen the other way it could have fallen 
onto flats and residents' property." 

The blasts had all the hallmarks of the 
Irish Republican Army, which has 
mounted several attempts to disrupt the 
election campaign by bringing the coun- 
try's road ana rail network to a halt. 

Huge traffic jams quickly formed after 
the police closed pints of the M6, the 


nearby M5 and parts of the major north- 
south Ml highway in Yorkshire. They 
also evacuated the main rail station in the 


city of Birmingham. 
The highways, j 


airport and station 
were reopened later in the day. 

The IRA, which wants British troops 
out of Northern Ireland, has disrupted 
rail and road networks several times in 
the last few weeks to win maximum 
publicity at virtually no cost. 

“We believe that these things are 
manifestations of what is wrong in our 
society,” said Martin McGuinness. a 
parliamentary candidate for Sinn Fein, 
the IRA’s political wing. 

But Foreign Minister Dick Spring of 
Ireland angrily condemned the IRA, 
saying it was “morally wrong and po- 
litically stupid.” 

“Many Irish people who have made 
their lives in Britain are directly affected 
by these actions,” he said in Dublin. 
“Even more suffer from a sense of 
shame and embarrassment." 

In London on Monday, bomb threats 
closed five rail stations and three in- 
ternational airports. Two blasts and a 
series of bomb warnings paralyzed rail 
and road traffic in northern England last 
Friday. Earlier the Grand National 
steeplechase was abandoned because of 
an IRA phone call. (Reuters. AP. AFP) 



laffa4«Aaln 

Police officers patrolling the normally crowded city center of Birmingham on Friday after a security alert 
The city's main nail station and a nearby shopping center were evacuated after a suspected IRA warning. 


B R • E F l Y 


Easter Pilgrimage 

Blocked on Cyprus 

has been canceled because 
^bTthe Turkish Qrenot author- 
feGreek Cypnot officials said 

^is not going » goatod 
unless there 

chanees,” said Talas Christo- 
noulas, presidential wmnussioncr 
Sr humanitarian affairs m the 
Greek Cypriot-led government 
^ e&d 6& people w^e 
scheduled to travel tp the Turkish- 
held north of the island ona piL 
primage to the tnonastey of 
A^Sos Andreas on Sunday for 
SeGreek Orthodox Easter. It was 
to be the first such visit suk* the 
island’s division in 1974. ( Reuters ) 

Russians Recover 
Radioactive Matter 

MOSCOW — The police in 
western Russia have found two 
stolen capsules of radioactive cesi- 
um -137 and detained eight people 
on suspicion of planning to 
smuggle the material abroad, a 
news agency said Friday. 

The Tcad-encased capsules were 
discovered in a bam in Safonovo, 
180 kilometers (110 miles) from 
Smolensk, close to Russia’s border 
with Belarus, Itar-Tass reported. 

It quoted a police official as say- 
ing mat the radioactive c apsul es 
were stolen from a local en terpris e 
and that they were apparently 
meant to be smuggled into an un- 
specified European country. Cesi- 
um-137, a radioactive isotope, is a 
fission product used in cancer re- 
search and radiation therapy. (AP) 

UN Wants Retrial 
Of3inBosnia 

SARAJEVO, Bosnia-Herzego- 
vina — International officials de- 
manded Friday that Bosnian Sobs 
grant a new trial to three Muslims 
convicted of murder in what they 
viewed as a sham trial. 

Alexander Ivanfco, spokesman 
for UN police who monitored the 
trial, said the UN mission in Bosnia 
had called cm Serb authorities “to 
order a prompt retrial of foe three 
persons convicted.” (AP) 



How to be a Prune Minister 
A unique guide to Britain's top job; 
How to form a cabinet, keeping rebels 
and rivals in check and how to deal with 
Prime Ministers Question Time. 


FOR THE INSIDE STORY WATCH SUNDAY 
27 APRIL 21:05 CET 


WORLD 


BBC Wlfafcl , o Iro6»ra1 J i» Bmji Bmodcareng Conxmnp" 


U.S. Chair Lures Paris AIDS Pioneer 


TRAVEL UPDATE 


By Elisabeth Rosenthal 

New York Tunes Service 


NEW YORK — Professor Luc Montagnier, co-discoverer 
of foe AIDS virus and one of Europe's most eminent scientists, 
has announced that be intends to move the home base for much 
of his research from the Pasteur Institute in Paris to Queens 
College, part of the City University of New York. 

Dr. Montagnier accepted a newly endowed professorship, 
the first endowed chair at Queens College. He will move to 
New York this October to begin building and running a new 
AIDS research institute that the college plans to construct with 
a mix of corporate money, private donations and government 
matching funds. 



JSanmfs &vi 

EH. 1911 -PARIS 

TIE OLDEST COCKTAIL BAR IN EUROPE TO. 

Just tell the taxi driver, “Sank roo doe noo“ sm. 

PARIS: 5, rue Oa unou 
BERLIN; Oard Hotel Esplanade - MONTREUX: Montreux Palace . 
HANNOVER: SeidlerHotel Pdikan 



RELIGIOUS SERVICES 


AMSTERDAM 

CROSSROADS INTERNATIONAL 
CHURCH Interdenominational & 
EvangeScal Sunday Service IftOO am & 
11:30 a.mJ Kids Welcome. De 
Cusersbaat 3. S. Amsterdam Info. 020* 
641 881 2 or 0206451 653. 

FRANCE /TOULOUSE 

HOPE INTERNATIONAL CHURCH 
(Ewngdted). 4, bd de Pixac. Colon er. 
Sunday service. 6:30 p.m.Tel.: 
056274 11 SS. 

FRENCH RlVtERA/C&TE D'AZUR 

NICE: Holy Trinity (Anglican). 11 rue 
Bulla, Sun. 1 1: VENCfc St Hu^s, 22, av. 
Resistance, 9 am Tat 33 04 93 87 19 8a 

MONTE CARLO 

MONACO CHRISTIAN FELLOWSHIP 
Worship Service, Sundays: 11 a.m. 
9. rue Louis Notary, Monte Carlo. 
TeL 37792 165647. 

PARIS and SUBURBS 

EMMANUEL BAPTIST CHURCH - An 
evmgefcai church In toe western sufcubs, 
all are welcome. 9:45 First Service 
concurrent with Sunday School, 11:00 
Second Servlca wBi CrtWrerfs Church. 
French Service 6.30 pjn. 56. rue des 
Bone-Raisins, 92500 RueWAsImaison. 
For rio, cal 01 4751 2963. 

HOPE INTERNATIONAL CHURCH 
Hotel Orton at Par&te-Detoree. 8 bd. de 
Neuty. Worship Sundays 930 am Rev. 
Douglas Millar, Pastor. Tel.: 
01 43 33 04 06. Mftro 1 tola Defense 
Esplanade. 

SAINT JOSEPH'S CHURCH (Roman 
Canofc). MASS IN BfCUSrt SaL 630 pm; 
Sun 9-45, 11.00 am. 12:15, 6:30 pm 
5Q. avenue Hoche. Paris Btfi. Tel.: 
01 43272B5& Meter Chafes cteGafe ■ Safe. 

TOKYO 

ST. PAUL INTERNATIONAL LUTHERAN 
CHURCH, near Wabash Stn TeL 3261- 
374ft Worthp sowar 930am. Sundays. 

TOKYO UNION CHURCH, near Omctesando 
Sdtway Sfc Tal- 340WXX7. WtaheSaNeas 
Sutiay-830& 1100 am. SSS &45ajn. 


SWITZERLAND 

BASEL CHRISTIAN FELLOWSHIP 
English-Speaking non-demnvnationaL 
TeL +41 61 302 1674, Sundays 1030 
MtSereStrassel ft CH-4056 Basel 

ZUR1CH-SWITZERLAND 

ENGLISH-SPEAKING CATHOLIC 
MISSION; St. Anton Church, 
MtoenrestraBe 63 Sunday Mass: 630 
am & 1130 am Services held m the 
oyptot SL talon Church. 


THE EPISCOPAL CHURCHES 
OF EUROPE (Anglican) 


BRUSSELS AVATBttOO 

ALL SAINTS' CHURCH, 1st Sun. 9 & 
t !:TS am Holy Eucharist wth ChHente 
Chapel a 11:15. Al olhar Sundays: 11:15 
am Holy Eucharist and Sunday Stood 
563 Chaussrie de Louvain, Chain. 
Belgkia TeL 382 38WS56. 

WIESBADEN 

THE CHURCH OF ST. AUGUSTINE 
OF CANTERBURY, Sun. 10 am 
Famfly Eucharist Frankfurter Strasse 3, 
Wiesbaden. Germany. Tel.: 
43611306074. 


PARIS and SUBURBS 

THE ANERtaAN CATHEDRAL OF TIC 
HOLY TRINITY, Sun. 9 & 11 am, 1045 
am Sunday School for children and 
Nursery care. Third Sunday 5 p.m. 
Evensong. 23, avenue George V, 
Paris 75006. Tel.: 334)1 53 23 84 00. 
Manx George V or Alma Macau, 

FLORENCE 

ST. JAMES' CHURCH. Sux 9 am me I 
& 1 1 am Rita U. Via Bemodo Ruceiai 9. 
5012ft Florence; Italy. T*: 3065 29 44 17. 

FRANKFURT 

CHURCH OF CHRIST THE KING 
(Episcop&l/Anglican) Sun. Holy 
Communion 9 & H am Sunday School 
and Nursery 10:45 am Sebastian Fflnz 
St 22. 60323 Frartfurt, Germany, Ui, 2, 
3 hkfJBHm. Tat 4369 5501 54. 

GENEVA 

EMMANUEL CHURCH, la & 3d Sun 
10 am Euchanst 2nd & 49i Sun. Morning 
P^er.3(uedeMartioux, 1201 Geneva 
Switzerland TeL: 41/22 732 80 78. 

MUNICH 

THE CHURCH OF THE ASCENSION, 
Sun. 1?;45 a.m. Holy Eucharist and 
Sunday School. NurswY Care provided 
Seybothstrssse 4, 81545 Munich (Har- 

lading), Germany. TeL 4969 64 81 85. 

ROME 

ST. PAUL'S WTTHW-THEWALLS, Sun 
MO am Holy Eucftaris Rite I; 1030 am 
Choral Euchansf Rite «: 10:30 a.m. 
Church School far dridren & Nusay care 
provided i pm Spanish Eucharist Via 
Napdl 5ft 00104 Roma TeL 39G408 
3339 cr 396 474 3569. 


EUROPEAN 

BAPTIST CONVENTION 


NICE- FRANCE 

LB.C. 13 me Vernier, Engtsh service, 
Stnday ewningl &3Q. pastor Roy Mfcr- 
TeL (04 939 320596. 

PRAGUE 

LB. FELLOWSH8 5 , Vtoohradska * 68, 

Prague 3. Sun 11 XXL TeL (GO) 311 7974. 

WATERLOO 

Waterloo baptist fellowswp 

Stn. 19X10 at Swedish Church, across 
tarn MaBonafcts. TeL (02) 353 1585. 

ZURICH - SWITZERLAND 

LB.C of ZOrich, Gheistrasse 31. 8803 
Ruschifion, Worship Services Sunday 
mornings 1030. TeL1-481001& 


RERUN 

l-B.C- BERLIN. Rothenbuig Sir. 13, 
ISiag/ttz). Sunday. BMe study 10.45. 
worship Service 12 00 noon. Charles 
Warlord, pester. TeL 030.774467a 

BREMEN 

Lac, HdhBrto h estr. Hennann-Bose-Str. 
Worship Sin 17330, Paster telephone; 
04791-12877. 

BUCHAREST 

LB.C-, Strada Popa Rusu 22. 3.00 pm 
Cored Paster Me Kemper. TeL 312 3860 

BUDAPEST 

meets at Morics Zsigmond 
Gimnazium, Torekvast ut 48-54. Sun. 
1000. TdL 250-3932. 

BULGARIA 

LRO, World Trade Center. 36. Drehan 
Tzanfeov Btvd, Worship 1 iflO. James 
Dlirs, Paster. TeL 669666. 

FRANKFURT 

INTERNATIONAL CHRISTIAN FEL* 
LCWSHP, Ev.-Frahrchlche Gemeinde, 
SOdenerear 11-16, 63150 Bad Hombuft 
Sunday Worship, Nursery S 55: 
1120 AM. Mid-week mWaries, Pastor 
Mlflvey. CaMRax: 0617^62738. 
BETHEL LB.C. Am Dachsberg 92 
(Ehgfeh), Worship Srn. 1L0D am and 
ftOOp-m. TeL: 069549559. 

HOLLAND 

iratTYINTH^TIONmrwdesyouto 
a Chrs centered Idowahip. Serve bk 
ftOOaxtiOaoam Bto a ncampl aan 54. 
Wasswoar (J70517-B024 nursery prov. 


ASSOC OF wn 
CHURCHES 


BERLIN 

AMERICAN CHURCH N BERLIN, cor. 
ot Cby ASee & Potsdamer Sir., SS. 930 
am. Worship 11 am TeL 03081 32021. 

FRANKFURT 

TRINITY LUTHERAN CHURCH, 
KSsetununatee 54, Sun. Worttlp 1 lam 
Td. 06G@5631Q66 W512SS2. 

GENEVA 

EV. LUTHERAN CHURCH 20 rue 
Vodairre. Smfey worshp 830. in German 
l1O0inEngtish.Tet {022)3105089. 

JERUSALEM 

UJnCRAN CHURCH of the Redeemer. 
Cld City. Muistan Rd. Encfeh worship Sun 
9 am AP are wefcome. TeL (02) 6261-049. 

PARIS 

AMERICAN CHURCH IN PARIS. 
Worship 11.00 am GS, Dual tfOrsay. 
Paris 7. Bus 63 at door, Metro Alma- 
Maiceauor kmfdes. 

VIENNA 

VIENNA COMMUNITY CHURCH, 
Suiday MOtsftp in EngQsft itrSOAJU.. 
Sunday school, nursery. ntemabonaL al 
d e m rwna i cre welcome. Daufli B eigasse 
i& Vienna 1. 

ZURICH 

INTERNATIONAL PROTESTANT 
). worship 


CHURCH English . . 
service. Sunday School 
Sundays ntoam, ~ 

TeL (01) 2625525. 


Nurser 


The move will be a loss for France, where Dr. Montagnier, 
64, though nearing retirement age. remains a popular public 
figure. Under his new contract. Dr. Montagnier will continue 
to ran a laboratory al foe Pasteur Institute. He will also 
continue as president of foe World Foundation for AIDS 
Research and Prevention, a nonprofit group based in Paris. 

The deal is foe brain child of Dr. Bernard Salick, a doctor- 
turned -entrepreneur who donated $4.5 million to start foe 
project and brought Dr. Montagnier to the Flushing campus 
earner this year. The impending arrival of Dr. Montagnier and 
tire creation of a new institute would be a boon forNew York’s 
research efforts, which have been hurt by cutbacks in federal 
funding as well as shortages at academic health centers feeling 
the pinch from managed care. 

Although some scientists were suiprised by foe move. Dr. 
Montagnier said that the offer to found and run a new AIDS 
center seemed like a natural opportunity for him. He said that 
his World Foundation for AIDS Research and Prevention, 
which has one center in France and another in tire Ivory Coast, 
had been considering a research program in North America; 
the new center will be affiliated with the foundation. 

“New York is the center of this disease,” Dr. Montagnier 
said. “There are already many skilled scientists working there 
and also so many patients. I am very glad that Queens College 
has allowed me to start this in New York, which has foe 
highest incidence of AIDS in the United States.” 

Dr. Montagnier said the new institute, to be called the 
Center for Molecular and Cellular Biology, would focus on 
developing AIDS vaccines as well as new simpler treatments 
for AIDS that would not require patients to be on medication 
indefinitely. Current state-of-the-art treatments for AIDS re- 
quire patients to take costly and complicated drag com- 
binations for life. 


French Air, Rail and Sea Travel Hit 

; T PARIS 1 (Reuters) — Strikes disrupted Frfcncfa air. sea and 
rail traffic Friday, halting many trains, cutting half foe flights 
at foe domestic airlines Aur France Europe, TAT and Air 
liberte, and stranding ferries to Corsica and Tunisia. 

Train conductors who had been scheduled to end a 36-hour 
strike over wages and working conditions at 8 AiM. extended 
their protest in several regions, restricting train service by up 
to two-thirds. 

Air France Europe reduced flights by 55 percent as pilots 
began a two-day strike over pay cuts and working conditions. 
Air Liberte and TAT, French units of British Airways, can- 
celed almost half of (heir flights. 

A strike also stranded femes between Corsica and the ports 
of Nice aztd Marseille, and baited a crossing from Tunis. 

New Flights From Brussels to U.S 

NEW YORK (IHT) — CityBird, a new airline owned 1 
company that began Virgin Express, is planning service from 
Brussels to North American cities with an inaugural fore of $148 
each way and a base fere of $184 to Newark, New Jersey. 


foe 


Correction 

A brief article in the April 15 issue on an airlift taking home 
Rwandan refugees from the jungles of Zaire misstated foe 
affiliation of Stephen Lewis. He is deputy executive director 
of Unicef. 


The new carrier is offering the introductory fare to Newaric 
in June, when it begins operations doe, and to California. It 
has already begun frying to Florida and Mexico. 

Not all economy-class seats will be available at the lowest 
regular fares, which are $249 for Miami and Orlando, $294 to 
Los Angeles and San Francisco and $324 to Mexico City. 
Business-class fores start at $619 for Newark, which has 
flights four days a week. 

Air Algerie Resumes Paris Flights 

PARIS (AFP) — Algeria’s state airline, Air Algerie, re- 
sumed regular flights to Paris's Charles de GauUe airport 
Friday, ending a two-year suspension of services. 

Air Algerie called off itsflijghts to Paris in June 1 995 to protest 
a decision by aiipoit authorities to move its check-in counter to 
an isolated terminal because of fears of terrorist attacks. 

The resumption of services caused British Airways to move 
its check-in operations to another building. Singapore Airlines 
and TWA said they had both asked to be moved away from the 
terminal being used by Air Algerie. 


WEATHER 


Europe 



Tndav 



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Low* 

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Ainans 

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15V66 

13/K s 

18*4 IQS) pc 


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13/56 

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Forecast for Suiday through Tuesday, as provided by AccuWealher. Asia 



srs 


North America 

UBd with coma sunshine in 
the Northeast Sunday, but 
ran a flinty Monday, then 
windy and eootor Tuesday. 

That storm wfl spread ™n 
from east Texas to Ten- 
nessee Sunday, and 
across the Northeast to 
New England by Tuesday. 
Cool in the Plains, but 
sunny and warm in the 
Southwest 


Europe 

Mild with some sun to Lon- 
don and Paris Sunday, but 
windy and cooler wrtn the 
chance tor showero Mon- 
day and Tuesday. Spain 
will remain sunny, warm 
and diy through the period. 
Some sun. dry and sea- 
sonable to eastern Europe. 
There could be soaking 
rate on northern dopes of 

dwAto*. 


Asia 

Tokyo and most at Japan 
wB be dry with Iota at out- 
shine end comfortably rrt(d 
aHemoons Sunday through 
Tuesday. Beijing will be 
quite warm with the chance 
for showers Sunday and 
Monday, but cooler with 
3unahirw Tuesday. Some 
sun and the chance ot a 
shower, at Hong Kong and 
Cation. 


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North America 


■s 

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Arana tens 

BMMn 14/57 

Chicago 19*6 

COBBS 21 <70 

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D«JH» 18/04 

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INTERNATIONAL HERALD TRIBUNE, SATURDAi-SUNDAi; APRIL 26-27, 1997 


PAGE 3 



on Tobacco Is Mixed 


■" ' Ow S^FKmDopadts 

GREENSBORO, North Carolina — 
In a grtkmdbreakmg ruling, a federal 
judge decided Friday for the first time 
that the Food and Drug Administration 
can regulate sales and labeling cig- 
arettes, but cannot regulate the promotion 
and advertising of robaccoproducts. 

The ruling by the U.S. District Court 
judge. William Osteen, was bailed by 
anti-smoking forces but described as 
mixed by aiobocco executive. Stocks of 
the leading tobacco companies shot up 
immediately after the decision was an- 
nounced, onlyto quickly tumble. 

Although the agency has the authority 
“to impose access, restrictions and la- 
beling requirements on tobacco products, 
FDA lacks the authority to restrict their 


advertising and jxomotKm,’ ' Judge Os- 
teen said in ttis fiS^jage decision. ; 

The siding means that restrictions 
such as limits on placement of vending 
machines could be allowed. But there 
would be no requirement for significant 
changes in advertising, such as limiting 
billboards to black and white, with no 
pictures — no Joe Camel, no Marlboro 
Man. Such a requirement had been 
scheduled to take effect Aug. 28. 

Charles Blixr, general counsel for RJR 
Tobacco Co., said the company was 
“very pleased the court struck down 
restrictions on advertising and promotion 
of tobacco products.** He said, “We’re 
disappointed the court did not find as a 
matter of law that the FDA has absolutely 
no jurisdiction over tobacco products.” 


President Bill Clinton said ihe ruling 
on advertising and promotion would be 
appealed. Mr. Blixt said the industry, 
too, would appeal. 

As for the rest of the rating, Mr. Clin- 
ton called it “a historic and landmark day 
for the nation's health and children.” 

The ruling means the agency’s crack- 
down on tobacco sales to minors, by 
iMuixing stores to demand photo iden- 
tification from people in their 20s, will 
stand, as will the regulation of vending- 
machine sales. 

The judge rejected the tobacco in- 
dustry's biggest argument: that Con- 
gress never intended for the agency to 
regulate tobacco and that it had not 
proved that tobacco was a drug under its 
own statutes. (AP, Reuters) 


Ups and Downs of a Universe Theory 


By Nicholas Wade the universe, with the degree of twist- 

Nei i- York Tunes Service ing. being greater in one direction than 

~ — ~r~ in others. - • 

NEW YORK — Just last week two Their report, published in the April 
scientists reported that the universe ap- 21 issue of Physical Review Letters, 
peared to have as “up" and a not only defies current cosmological 
■ ‘down, ' ' a startling piece of news for theory but would also require changes 
cosmologisrs because it challenged in the textbook theory of electromag- 
their fundamental belief- that the uni- netism Such a revolutionary finding, 
verse is the same in all directions. heralded in a leading scientific journal, 

Now the bottom may have dropped • could hardly escape att ack, and the first 
out of the universe if two critics are critics have struck with unusual speed, 
right in asserting they have found a Daniel Eisenstcm of the Institute for 
basic flaw in the statistics that support Advanced Study at Princeton, New Jer- 
the new finding. sey, and Emory Bunn at Bates College 

BorgeNodland, of the University of in Lewiston, Maine, say .there is a stat- 
Rochester, and John Ralston, of the istical flaw in the Nodland-Ralston anal- 
Umversity of Kansas, reported that po- - ysis. Mr. NocHand and Mr. Ralston ana- 
laiized light was twisted through a very lyzed polarized tight from 160 gala xie s 
gradual corkscrew motion as it crossed that were not uniformly distributed in 


Their critics aigue that the way 
took account of tins nemunifonnity 
created a spurious correlation. 

Mr. Nodland and Mr. Ralston say 
the critics have misunderstood their 
method. Mr. Ralston also notes that the 
editors of Physical Review Letters held 
up their article for two years while six 
referees examined it minutely for 
faults, whereas the critics 1 paper had 
not ye t passed any such scrutiny. 

Ellen Zweibel, an astrophysicist at 
the University of Colorado, said she 
had just received the critics' 
manuscript and bad not made up her 
mind which side was right. She noted 
that the critics had raised a genual 
objection but had'not worked through 
the numbers to measure the size of 
bias they said was there. 


Away From Politics 

• The world headquarters of R’nai 

B’rith was sealed off for eight hours, 
with 108 people inside, by me Wash- 
ington Fire Dqpanment, after a maO 
room employee noticed a foul odor em- 
anating from, an envelope marked “an- 
thrachs,” a misspelling apparently re- 
ferring to an often fatal bacterium. After 
testing the red, jellylike substance, foe 
authorities determined that it was “not 
ltfe-threatening.'' (NTT) 

• Eugene Lang, the creator of a foun- 
dation that hems underprivileged stu- 
dents attend college, is giving $30 mil- 
lion to his alma mater, Swartfamore 
College, school officials said. . (AP) 

• Rottweilers attacked and killed an 

11 -year-old boy at bis school bus stop in 
Milford, Kansas, as his younger brother, 
schoolmates and the Inis driver looked 
on in honor. (AP) 

• Subway and union officials in New 

York say there has been a rash of in- 
cidents over theiast 16 months in which 
conductors opened train doors on die 
wrong side. (NYT) 


F^BI Evidence Shows Beijing 
Approved Bid to Buy Influence 


* By Bob Woodward 

Washington Poet Service 

WASHINGTON — The FBI has ob- 
tained substantial evidence that top 
Chinese officials approved plans in 1995 
tortmqktobiyiig^ 
politicians and that the effort ran through 
the 1996 elections and is ongoing, ac- 
cording to U.S. government officials. 

Secret communications between 
Beijing and the Chinese Embassy in 
Washington establish that die influence- 
buying plan was “government sanc- 
tioned, 1 official said. 

The officials declined to name the 
Chinese officials who allegedly approved 
the plans. “It’s a pretty small top,” one 
source said, noting that ihe No. 1 official 
m China is Jiang Zemin and the 

No. 2 is Rime Minister 1a J?eng. 

Investigators on a special. FBI task 
force examining the Chinese component 


of the campaign finance controversy 
only recently assembled all the intel- 
ligence that would confirm direct ap- 
proval by top officials in Beijing. Some 
White House officials initially concluded 
dial authorization might have gone no 
higher than die embassy in Washington. 

While officials said the FBI has what 
one described as amazing detail showing 
the Chinese intent to buy influence and 
has tracked some China-U.S. money 
transfers that may hove been used in the 
scheme, investigators have not yet con- 
clusively tied that information to any pay- 
ment to an individual or organization. 

The director of the FBL Louis Freeh, 
and Attorney General Janet Reno 
briefed senior members of the Senate 
Select Committee cm Intelligence on 
Wednesday about die establishment of a 
connection between the influence-buy- 
ing scheme and the highest levels of toe 
Chinese government 



Peru Rebels May Have Tried to Give Up 

Government Buries All but One Guerrilla in Unmarked Graves 


OaopHultyOsrSuffFmiDupadiri 

LIMA — Amid accusations that some 
rebels were killed while crying to sur- 
render during the successful hostage res- 
cue, the government on Friday buried all 
but one of die 14 slain guerrillas in 
unmarked graves rather than turn toe 
bodies over to their families. 

Peruvian television showed footage 
that seemed to suggest some of the rebels ' 
bodies may have been mutilated after 
army troops stormed the Japanese am- 
bassador’s residence to free 71 hostages. 

The government did not comment on 
the allegations made Thursday, but fo- 
cused its attention on toe solemn pa- 
geantry of funerals for a judge and two 
soldiers killed in the raid. 

The government's refusal to release 
the remains of the Tupac Amaru rebels 
for family burials and possible autopsies 
came amid accusations that military 
commandos had executed some of toe 
guerrillas who had tried to surrender 
once the rescue operation had begun. 

Several local and foreign news ser- 
vices have quoted unnamed farmer hos- 
tages and military intelligence officers 
who said they witnessed or overheard 
the soldiers execute the rebels. 

The reports have gained credibility 
because they are being attributed to both 
Peruvians and Japanese who were hos- 
tages. 

• According to several former hostages, 
at least two rebels were executed by 
soldiers after being taken prisoner, said a 


front page report in toe Mainichi Shim- 
bun daily in Japan. 

Die former hostages, whose names 
were not given, said the two rebels were 
unarmed when they were captured. 

When the assault started, one rebel, 
Ernesto (Tito) Cruz, took off his jacket, 
to which several grenades had been at- 
tached, the newspaper report said. He 
then lay on the floor alongside toe hos- 
tages as the elite troops stormed toe 
residence. He was taken prisoner and 
taken away with his hands tied, accord- 
ing to the former hostages. 

A young female rebel was also cap- 
tured alive, the report said, adding that 
she shouted, “Don't kill him!” 

The freed hostages also told the Jap- 
anese daily Asahi Shimbun on Thursday 
that they saw rebels being killed by the 
Peruvian forces after they had given 
themselves up. 

* T saw a murder,' * one of toe hostages 
said. He told how one rebel put his hands 
in the air, but was shot nevertheless. 

Speculation that some rebels were ex- 
ecuted or their bodies mutilated has been 
increasing since television stations 
broadcast images of President Alberto 
Fujimori inspecting the residence and 
stepping over bodies that were riddled 
with bullets and dismembered. 

One body is believed to be that of the 
rebel leader, Nestor Cerpa Cartolini. It 
had a bullet hole in the head and a large 
gash across toe neck. Next to the body 
was another, without a head or arms. 


Military and terrorism experts said 
that their experiences had shown that 99 
percent of all hostage rescue operations 
had ended with all toe hostage-takers 
being killed because the rescue teams 
were trained to kill all potential op- 
ponents. They said this made it virtually 
impossible for someone to effectively 
surrender during such a raid. 

Peruvian television and radio reported 
Friday that all but one of the rebels, 
including Mr. CeTpa, were buried in sev- 
eral cemeteries throughout Lima without 
the knowledge of relatives, many of 
whom live in toe remote jungle. 

Mr. Fujimori had said the rebels’ bod- 
ies would be returned to their families. 
That of Rob Rojas Fernandez — Mr. 
Ceipa’s chief lieutenant — was claimed 
by relatives, and buried on the outskirts 
of Lima. 

But other relatives who came to the 
police morgue Thursday to retrieve toe 
bodies expressed anger after being told 
the bodies would not be released. 

“We can't accept that they bury my 
daughter's body with no name,'* said 
Johanna Rodriguez Bustamante, whose 
20-year-old daughter Luz Dina Vil- 
loslada Rodriguez, was one of the rebels 
who seized toe residence on Dec. 17. 

For die former hostages, meanwhile, 
the homecomings continued. Shigeru 
Taki. toe first Japanese hostage to return, 
said Friday in Osaka. “The first thing I 
want to do is go home, stretch and get 
some rest '* (NYT, AJFP, AP, Reuters) 


POLITICAL NOFLS 


Driving on U.S. Highways 
At 47 Billboardsan Hour 


Florida had 20,711 billboards, the most of any 
statehood that Texas had toe most illegal billboards. 
Scenic America announced die results of its survey 
along with new billboard-control legislation toot 


WASHINGTON — An environmental group 
has called' the Highway Beautification Act a 
“loophole-riddled disaster” that has allowed at 
least 5,000 new billboards a year to rise dong 
America's major highways. . 

In what it called the first stato-by-state survey 
of the law’s effect in a decade, Scemc : America 


will be introduced by Senator James Jeffords, 
Republican of Vermont, one of four states that do 
not allow any billboards. The others are Alaska, 
Hawaii and Maine. . (WPj 

Clinton Backs Gay Workers 


Coho Salmon Protected 

WASHINGTON — In a wide-reaching de- 
cisions under the federal law protecting en- 
dangered species, the Clinton administration will 
declare the Northern California coho salmon a 
creature threatened with extinction, administra- 
tion officials said. 

By forcing potentially r sharp restrictions on 
logging, agriculture and building along the crucial 
salmon-supporting streams of toe Northern Cali- 
fornia coast, toe action is intended to protect a fish 
that is celebrated as toe spirit of the Pacific 
Northwest. (LAT) 

Quote /Unquote 

Senate Jesse Helms, Republican of North Car- 
olina, after the Clinton administration made a 
series of concessions that cleared toe way for the 
Senate to approve a treaty banning production of 
chemical weapons: “Thanks to what our critics 
called stubbornness, our soldiers in the field will 
be a little safer, and toe constitutional rights of 
American citizens will be a little better pro- 
tected," (AP) 


laid loose zoning lows, legal loopholes and lack of 
orforcement money have taken the bite out of the 
icl Motorists now can expect to see an overage of 
17 billboards an hour while traveling on federally 
unded highways. 

“A drive down an American highway looks 
ike a ride through toe Yellow Pages, but an 
•specially offensive Yellow Pages where cig- 
trettes and booze and strip joints and casinos are 
he leading advertisers,” said Scenic America's 
resident, Meg Maguire. “It's liner on a stick." 

The best estimate of total billboards nationwide 
s between 425,000 and 450,000, toe group said, up 
rom 300,000 when President Lyndon Johnson 
igned the law in 1965. The study found that 


WASHINGTON — President Bill CHnton has 
vowed to wage a vigorous lobbying campaign to 
persuade Congress to ^ass legislation prohibiting 
job discrimination agamst gay workers. 

The president issued a statement reaffirming his 
“strong support” for the Employment Nondis- 
crimination Act after meeting Thursday with gay- 
rigfats activists and a congressional delegation that 
plans to reintroduce the measure soon. 

Yet even as he pledged “to work bard for its 
passage,” Mr. Clinton did little to raise the jMofile 
of toe issue. His meeting was not listed on his 
public schedule and was held behind closed 
doors. His statement on behalf of toe bill was 
made in writing rather than in person in from of 
television cameras. QVP) 


THE STORY OF JUNK 

By Linda Yablonsky. 325 
pages. $23. Farrar, Straus & 
Giroux. 


ko Kakutani 
iOw does a girl get from 
nt A to Point B : from a 
ome childhood in an 
ericas suburb to a 
life as a heroin addict 
tier in Greenwich Vil- 
[ow does a nice gi rl end 
uggling heroin from 
id in condoms pushed 
rectum? Well, this is 
' Linda Yablonsky sets 
tell in her chilling if 
nes tedious firstnovel, 
Itory of Junk.” 
ainly this novel conld- 
rcore timely. After all, 
about middie^class 
ise have becomes reg- 
ime on television news 
nes, heroin chic has 
• the -fashion world's 
craze, and “Rent,” a 
[ about life among toe 
transvestites, and 
be artists of the Lower 
je, hasbecomeahit, as 
j-ainsjjttttmg,” a high- 
movie about Scottish 


ir “T tte Stosj' of 
ts gritty portrait of 
iddfetion stands in 
irtrast to the Tech- 


nicolor effusions of “Train- 
spotting’ ’ and * ‘Rent.’ ’ There 
are alarming stories about 
friends passing out from over- 
doses, buying methadone that 


There are gruesome descrip- 
tions of addicts covered with 
sores and bruises, trolling the 
mean streets of Alphabet City 
looking for a fix, and equally 
gruesome descriptions of 
what it feels like to go cold 
turkey. Even Yablonsky’s 
mere upbeat scones have a 
way of depressing the reader: 
endless days and nights spent 
in cold apartments and hot 
restaurants, listening to peo- 
ple with “great haircuts and 
shiny suits r ' talk about their 
habits and say things like “I 
think death must be bliss.” 

* *Wlnle otiier drugs weak to 
alleviate pain, excite the mind, 
or otherwise trick the senses,” 
her narrator says, “heroin 
{days with the soul — or 

whatever it is makes a person 
uniquely appealing ana dis- 
tinguishable. Like an envel- 
oping shadow dissolving day 
into night, it sneaks across 
your vision- and tries to pur it 
out. whatever that joy is by 
which you live, ft creeps inside 
and pushes you down, making, 
smaller and smaller, a tiny 
.jse burning down.” 
framed by the unnamed 


BOOKS 


narrator’s arrest and interrog- 
ation by a narcotics officer, 
“Junk” jumps back and forth 
in time to tell the story of how 
she reached this point. We 
learn that she is an aspiring 
writer and sometime restaur- 
ant cook who was attracted to 
die bohemian world of New 
York, so different from the 
middle-class world of her 
youth. We learn that her dab- 
bling in heroin led to a habit 
and mat that habit, in turn, led 
to dealing. We also learn that 
her regular customers are 
“drippers and party heads, 
overachievers, friends,” the 
artists, musicians, and poets 
she hangs out with in SoHo 
and the Village. 

Writing in edgy, service- 
able prose, Yablonsky gives 
the reader some evocative 
snapshots of the worlds her 
characters frequent: a Village 
restaurant "hung with paint- 
ings and other works of art by 
the better-known clientele” 
arid equipped .with a huge 
walk-in fringe that also serves 
as a drug parlor. Avenue B, 
where mere are “bodies 
slinking in and out of guarded 
doorways, diving through 
holes punched in concrete 
walls, wiggling into gaps in 
the sidewalk deep as wells, 
shooting up in empty lots, 
nodding on the hulks of aban- 
doned cars.” She provides 


some voyeuristic glimpses of 
their lives: being ducked for 
track marks by suspicious 
dealers: taking valium, 

codeine and Darvon to over- 
come the pain of withdrawal; 
and yards and yards of stoned 
conversation. 

Though Yablonsky proves 
she can be a vivid storyteller 
when she has a real stoiy to 
relate (like her narrator’s 
smuggling trip to Thailand), 
and demonstrates an anthro- 
pological flair for recording 
toe mores of the downtown 
drug scene, her narrative often 
devolves into a weary recit- 
ation of drug buys, drug busts, 
drug parties: toe deadening 
routines that frame an addict's 
life. As for the characters (the 
narrator’s lover. Kit the nar- 
rator’s former lover, Rico; toe 
narrator’s drug source, An- 
gelo; even the narrator her- 
self). they, too, tend to blur 
into one another, all of them 
obsessed with junk: where to 
get it, how to ingest it, and 
occasionally how to kick it 


As Yablonsky, herself, 
writes: “Everyone's, got a 
story to tell, and most of those 
stories will change in some 
way. every time they’re told. 
Not this one, not toe story of 
junk. This one's always the 
same.” 


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


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Saturday April 18,1997, please complete this coupon & send it to: 
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PAGE 4 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 26-27, 1997 


As Zaire Army Falls Apart, the Generals Think of Themselves 


BRIEFLY 


By Lynne Duke 

Wuihington Poa Service 


KINSHASA Zaire — With more 
than half his country in the hands of 
rebels and his health threatened by pro- 
state cancer, a heavily medicated Pres- 
ident Mobutu Sese Seko is being re- 
assured by one of his top generals that he 
will retake lost territory and turn the tide 
of the disastrous war. 

The same general, apparently sniffing 
defeat in the air, has snipped ms family 
and his valuables out of the country. 

In six months, the rebel forces led by 
Laurent Kabila have swept from eastern 
Zaire to within striking distance of Kin- 
shasa in what analysts describe as a 
military walkover. When they finally 
arrive here, they may meet some initial 
and perhaps heavy resistance, but 
mostly what they will find is a capital 
city full of military men who have taken 
off their uniforms and donned white 
headbands to signal their welcome of 


Marshal Mobutu's demise, according to 
diplomats and soldiers. 

Accounts such as the tale of the du- 
plicitous general, which was told by a 
Western diplomat and a Zairian security 
official, are reaching Zairian troops as 
well as reporters. Many of the soldiers 
see their commanders' cut-and-run men- 
tality as confirmation of the bankruptcy 
of the corrupt system known as Mobu- 
uiism — yet another reason to abandon it 
and embrace the change symbolized by 
Mr. Kabila’s rebel movement 
“Personally, I won't fight," said a 
sergeant in the Civil Guard, banging his 
hand on his chest for emphasis. “Con- 
scientiously. I won’t fight” 

Even if the troops wanted to fight, 
they couldn't do it effectively, diplomats 
say. The Zairian Army's decades-old 
battle tanks do not nin and had to be 
parked during a military parade last year. 
Its aircraft had to be piloted by Serbian 
mercenaries the last rime an attempt was 
made to turn back the rebels during the 


short-lived defense of Kisangani. 

Zaire has some helicopter gnnshijs. 
antiaircraft guns and mortars, and in 
recent weeks has procured tons of 
weapons, such as rocket-propelled 
grenades and launchers. But diplomats 
say Zairian troops are so poorly trained 
that their proficiency on any but the 
most basic weaponry is questionable. 

‘ ‘This is really the gang feat couldn't 
shoot straight,” a diplomat said. “The 
Zairian Army hasn't had a live-fire ex- 
ercise for 10 years.“ 

Of the 70,000 soldiers once estimated 
to make up Zaire's military — divided 
among die army and the paxamilitaiy 
Civil Guard and Gendarmerie — about 
15,000 are believed to be here in Kin- 
shasa. Thousands more soldiers are 
slowly streaming in from outlying 
towns that have fallen to rebels or are 
expected to fall any day, a Western 
military analyst said. On Thursday, the 
rebels claimed to have advanced as far 
as the towns of Ilebo, Tsbikapa and 


Dowete, about 350 miles (560 kilo- 
meters) east of the capital. 

Still, the military's unpredictability 
makes die potential for bloodshed great 
if the rebels ay to take Kinshasa by 
force. The Special Presidential Divi- 
sion, which is recruited largely from 
Marshal Mobutu's northern home re- 
gion of Equateur and Is the most loyal 
and best-equipped branch of the mil- 
itary, is said to have 5.000 troops in 
Kinshasa and could make a last stand to 
save the Mobutu ^ov eminent. 

But another Civil Guardsman pre- 
dicted that if the Presidential Division 
tried to fight, it would fighi alone— and 
fail. Many troops from the Civil Guard 
and the Gendarmerie would refuse to 
fight, said the soldier and one of bis 
colleagues, both of whom said they 
would not fight 

“One cannot wash one’s face with 
one finger,” said the soldier. “The DSP 
cannot fight alone. I think they will run 
to the ocean as the rebels say, because 


80,000 Hutu Fled Camps, 
UN Air Search Confirms 


In Oar Sajf Fmn D upuKl*i 

KISANGANI, Zaire — A United Na- 
tions aerial search of two refugee camps 
confirmed Friday that an estimated 

80.000 Rwandan Hutu refugees had fled 
into the Zairian jungle this week, and aid 
agencies accused rebels of seeking “a 
final solution” by condemning them to 
die. 

Gabon, meanwhile, emerged as the 
venue preferred by Zaire’s president. 
Mobutu Sesc Seko, for talks with the 
rebel leader Laurent Kabila, who said be 
wanted a meeting only in South Africa 
or Zambia. 

“We didn't see any refugees.” said 
Carlos Haddad, Kisangani representa- 
tive of the UN World Food Program 
after flying 95 kilometers south of here, 
Zaire's northeastern capita], 

“The forest is so dense that either 
they are hiding somewhere or they went 
west to Opola,” Mr. Haddad said of the 
estimated 50.000 refugees who disap- 
peared from a camp at Kasese. 25 ki- 
lometers south of Kisangani, and about 

30.000 who had left a camp at Biaro. 20 
kilometers farther south. 

Mr. Haddad said the forest was so 
dense that it would have been impossible 
to spot any refugees off the road either 
from the plane or from a car. 

Relief workers, he said, would talk to 
villagers along the road to try to obtain 
information on the refugees’ where- 
abouts. 

A spokeswoman for the UN High 


Commissioner for Refugees said the 
search found traces of the passage of 
people further south of Biaro and 
Kasese toward Ubundu, as well as small 
numbers of people scattered on a road, 
and smoke coming from the thick 
forest. 

The refugee agency said earlier that it 
had received reports suggesting that Bi- 
aro had been emptied. A UN mission 
allowed to reach Kasese on Thursday 
found no refugees, alive or dead, after 
the camp was sealed off for four days 
from aid workers and journalists. 

Hie spokeswoman for the UN agency 
said aid workers had also been blocked 
from Biaro, but one worker trapped there 
Tuesday reported that a train carrying 
rebels had arrived, and that their arrival 
was followed by looting and fighting. 

The refugees are becoming a public 
relations disaster for Mr. Kabila. But 
rebel officials accuse the news media of 
biased reporting and blame UN agen- 
cies for not repatriating them earlier. 

Mr. Kabila said that his forces, who 
have taken more than half of Zaire since 
October, could seize the town of Kikwit, 
390 kilometers east of Kinshasa, within 
48 hours and that the battle for the 
capital would be swift 

He said he wanted face-to-face 
talks with Marshal Mobutu in South 
Africa or possibly Zambia, and re- 
jected all other proposed venues. Mr. 
Kabila did not mention Gabon as a 
venue for talks. (Reuters, AFP) 



Sxyjti Aifr/Tfa Au ocU I mI Pirg 

Rwandan Hutu children waiting for repatriation Friday on a UN truck 
carrying refugees near Goma, Zaire, at the Rwanda border. 


the other units won’t fight ’ . 

Many residents of this tease capital 
fear what might happen even beiore tne 
rebels arri ve. The aty could explode in a 
looting rampage by the soldiers, who 
have gich long-standing anger ove r low 
pay and poor housing that it has spurred 
them to riot on two previous occasions. 

Residents of the city’s distantquarters 
near N'Djili International Airport say 
soldiers in their areas arc growing tense 
and have begun shaking down residents 
more than usual and firing into the air. 

“They feel the pressure, and dial is 
why they arc creating panic in the quar- 
ters,’ ' an airport security official said. 
“They are aiming to loot die quarters. 

Zairian soldiers are everywhere in ev- 
idence here. Hie military compound mat 
is Marshal Mobutu’s K insha sa home. 
Camp Tsharshi, bristles with Presidential 
Division forces, whose loyalty tradition- 
ally has been secured by giving them 
better pay, better equipment, m ore sta tus 
and more opportunities for corruption 
tb fl o are afforded the regular troops. 

Marshal Mobum’s form of perso nal 
au tocratic role, with its vast patronage 
system of cash, favors and retribution, 
Jong held this society together, especialty 
thf. military e nmmand . To be a general is 
to have access to wealth, and there are 
intricate financ ial relationships between 
military brass and business barons, each 
sharing in die lucrative diamond and 
gold trade that recently has been denied 
them because of rebel advances. 

The corruption extends to weaponry 
as weU. Tainan generals and business- 
men have sold weapons to Angola’s 
UNITA rebel movement, which appar- 
ently continued to rearm despite apeace 
settlement in Angola's long civil war, 
diplomats say. A general here com- 
plained that government farces woe 
being denied the hardware needed to 
defeat Mr. Kabila’s rebels. 

At the start of the year. Marshal 
Mobutu's government spent millions of 
dollars on new equipment, weapons mid 
mercenaries to mount a counteroffensive 
a gainst die rebels at Kisangani. But 
Kisangani fell swiftly on March 15. and 
now officials here are accusing die 
former prime minister, Kengo wa Doodo, 
of misspending or stealing much-of the 
money intended for die counteroffensive. 
Mr. Kengo has denied the charge. 


U.S. to Recognize New Hong Kong Passport 


Reuters 

HONG KONG — Responding to an 
issue that has caused concern here, the 
United States said Friday that it would 
grant 10-year multiple-entry visas to 
holders of Hong Kong passports issued 
after China takes back the territory. 


Dining '{mdzjt Out 


BRUSSELS 

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The U.S. consul-general, Richard 
Boucher, said holders of future Hong 
Kong passports would get the same visa 
treatment dow enjoyed by holders of 
Hong Kong British travel documents. 

“We intend to issue maximum valid- 
ity visas for the United States for people 
with the new Hong Kong Special Ad- 
ministrative Region passport,” Mr. 
Boucher said. 

The decision was a milestone in in- 
ternational recognition of the new -pass- 
port and removed a question mark 
hanging over Hong Kong as China pre- 
pares to resume sovereignty on June 30, 
ending 156 years of British colonial 
role. 

From July 1 , die territory of 6.4 mil- 
lion people will become a Special Ad- 
ministrative Region of China; and win- 
ning easy travel access to major 
destinations is viewed as a barometer of 
confidence in the territory’s future pros- 


pects. Easy travel rights are also seen as 
a key to maintaining Hong Kong’s po- 
sition as an international business and 
tourism center. 

So far, nine countries — Britain, 
Singapore. Canada, the Philippines, 
Western Samoa, Trinidad and Tobago. 
Namibia, Benin and San Marino — 
have gone further to giant full visa-free 
entry for the new passports, bat other 
nations have hesitated. 

Japan, for example, has said it will 
treat the passports more favorably than 
Chinese passports, but it has not yet 
revealed details. 

Mr. Boucher said the same visa ap- 
plication procedures and conditions for 
approval as now would apply after the 
handover for Hong Kong people wish- 
ing to visit the United States. 

In return, LLS. citizens would be ac- 
corded the same visa-free entry priv- 
ilege that they now enjoy. 


Kim’s Son Admits 
Choosing Officials 

SEOUL — The son of South 
Korea’s president admitted Friday 
he had intervened in government 
personnel changes but denied cor- 
ruption allegations during a tele- 
vised parliamentary hearing. 

KimHyun Chul, 38, son of Pres- 
ident Kun Young Sam said. 
“When my father asked me, I gave 
my opinion about what kind of per- 
sons should be selected, and re- 
commended the most rejected and 
renowned people to him. 

He said, however, that the al- 
legations about his role in appoint- 
ing government officials had been 
exaggerated, adding that he had 
never taken any kickbacks for re- 
commending appointees. (AFP) 

Two Teenage Girls 
Slain in West Bank 

JERUSALEM (Combined Dis- 
patches ) — The bodies of two teen- 
age girls were found Friday in a 
West Bank nature reserve near Je- 
rusalem, apparently the victims of a 
Palestinian guerrilla attack, Israeli 
radio said. 

The girls , who were believed to 
be about 15, were hidden near a 
stream in die Wadi Kelt area close 
to die Jewish settlement of Kfar 
Adumim, northeast of Jerusalem, 
the radio said, citing the police. 

Police sources said the girls, be- 
lieved to be immig rants from die 
former Soviet Union, had been 
raped and stabbed several times in 
the throat (Reuters, AFP) 

Burma Dissident 
Hails U.S. Curbs 

RANGOON — Daw Aung San 
Suu Kyi, the Burmese opposition 
leader, welcomed Friday the U.S. 
decision to impose economic sanc- 
tions on Burma because of con- 
tinuing “large-scale repression” of 
the democracy movement 

Addressing an impromptu news 
conference at the home of a senior 
official in her National League for 
Democracy, Daw Aung San Suu 
Kyi said she was pleased the United 
States “recognizes the gravity of 
tire situation in Burma.” 

The activist, who had repeatedly 
called for sanctions in order to put 
pressure on the ruling junta, dis- 
missed the Association of South 
East Asian Nations' opposition to 
the U.S. decision as “rather pre- 
dictable” as tire grouping bad never 
favored such action. f AFP) 

Iraq Starts Airlift 

BAGHDAD — Iraqi helicopters 
started Friday to fly home Muslim 
pilgrims from the Saudi Arabian 
border through a UJS .-patrolled ex- 
clusion zone, die official news 
agency INA said. 

Baghdad earlier this week sent 
nine helicopters to the south, vi- 
olating die “no-flight” zone, to 
wait for Iraqis returning from the 
pilgrimage to Mecca. (AFP) 


OFF THE RACK, By Matt Gaffiiey 


ACROSS 
1 Campus 
cafeteria 

arrangement 
9 Soft drink brand 

15 Spots, biblically 

20 The Witching 
Hour* author 

21 Dorsal part Of 
the midbrain 

.22 Merchant 
Nordstrom 

23 Flip through a 
magazine? 

25 "Tbc Canterbury 
Tales' pHgrim 

26 Returnee's 
‘heflor 

27 Dickens boy 

28 Mars’s opposite 

29 Bogies 

30 Appearances 

31 Powerful 
Washington 
lobby 

34 'If_ — broke 

35 Near, in 
Niedersachsen 

36 Gel a 3 on a 3. 


37 Blackens 

39 Fromthe source 

46 From the capita] 
of Eritrea 

43 Gets mentioned 
by a magazine? 

45 Unvarnished 

46 Says a myth 
that’s amiss? 

47 Prefix with god 

48 Three-time 
Masters winner 

51 Manx or Persian 

52 Present 

57 One magazine's 
view? 

61 Neighborof 
Mauritania 

62 When repealed, 
comment to an 
apotogizer 

63 Sneer's cootedy 
parmer 

64 Left -lane type 

67 Movie segment 

68 Like on 
oversized 
magazine? 

70 City of Brittany 

72 AXM-need 

73 Guards 


Est. 1911, Paris 

“ Sank Roo Doe Noo * 


A Space for Thought. 


74 Coordinate in 
the same 
battleships 

76 Back way 

79 SpilLasMood 

80 Force behind* 
magazine? 

85 Herons* haunts 

89 ‘Deair 

90 X'sonamap 

91 U.S.SJL 
successor 

92 “Die 
Master si nger' 
soprano 

93 Bellyached 

94 20 Questions 
category 

96 Prominent U.S. 
mayor 

98 Held off 

99 Old car with a 
409 engine 

101 Shining 
example? 

102 Fades (out) 

163 Adler of 

Sherlock 
Hoimes stories 

104 Gracing a 
magazine's 
cover? 

108 Around 

109 * serious?" 

119 Southeast Asian 

tongue 

111 More fitting 

112 Saddam 
Hussein, eg. 

113 They're useful in 
making contacts 
DOWN 

1 Cousin erf the 
xylophone 

2 Them 

3 Orange County 

4 Inveigled 

5 Big balls 

S "You come here 
often?” e^. 

7 Whiz 

8 Counselor at 
Trey 

8 Stands 

It 'And I Love 

11 Show biz group 

12 Dazes 

13 Sandwich filler 

14 Green card, 
informally 

15 Certain 
neurotransminer 

16 Finely done 

17 Some professors 

18 Common alarm 
dock setting 

19 Bridge Support 

24 Piece of 

disinformation . 

31 Larrup 

32 Niryas motion 

S3 As the crow 



©7V«o York Times/Edited by Will Shortx. 


43 Jan 


34 “ not back in 64 Any car. 

an hour...” affection 

36 Foe of the Sioua. 65 Goddess 
38 Red Sea nation mentioned in 

41 Amounts to TheRaven” 

carry 68 Computer key 

43 Flles 08 “Peanuts’ boy 

69 "Load's Prayer- 

.... . . ' pronoun 

44 5I-Across,for 

one 71 Like some sports 

46 Switzerland's „ Sjjf™** 

— Leman 

48 Pcruhry plant 75 Otte First Lady’s 
_ mmdennaioe 

“SSL™ 

Hastings 

50 Operation 77 SSHSf** 1 

locations, for m * ybc 

Short 78 Gets the short 

51 Gel tough end of the stick 

53 Brunch fare 80 Where Montego 

54 Point of Bay is 

depression 

aaFandC “‘HE? 

55 toaS 11 PiCk * 82 1955 Wimbledon 

57 Recent fighter ^^ r f-°P en 

58 According iq C ** lnp 

59 Makes 83 Sinners do it 

60 Disgrontledness *4 Fine porcelain 


85 Ftoctionofan 
inch 

86 Curtis and 
others 

87 News locale of 
5/28/53 

88 Assents 
91 TTiafs 

impossible!" 

95 Bank worry 

96 Resign. asan 
office 


97 -... cost to 

your 

98 Sheepskin 
holder 

*60 Rubber roller 

102 Brazilian 
national hero 

105 Under. Prefix 

106 Overly 

107 Silver raimg? 


Solution to Puzzle of April 19-20 

IsTe in 


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f}nrm!J£ aa RRR33 n nrinooo 
* nRnrjnRS na H ani,n nnn 
nnnRn a nRnn 0 nr *n nno 

SSSl 

aR naSnRn A Rnr. nnn ^ nn00 

mRRRn nRRP nano nnn 

rannn n nnnnn 




i 


Hu 








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11 

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16 

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10 

11 

12 

13 

14 15 

16 

17 

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14 15 

16 

17 

IB 19 2D 21 22 23 

24 

25 

18 

19 

20 

21 22 23 

24 

25 

18 

19 

20 

21 22 23 

24 

25 

18 

19 

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24 

25 

18 

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35 

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37 38 39 

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34 

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38 39 

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41 

34 

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38 39 

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42 43 44 45 46 47 

48 

49 

42 

43 

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43 

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GAME 6 





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1 

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8 

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1 

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3 

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5 6 7 

8 

9 

1 

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8 

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10 11 12 13 14 15 

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17 

10 

11 

12 

13 14 15 

16 

17 

ID 

11 

12 

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16 

17 

10 

11 

12 

13 

14 15 

16 

17 

10 

11 

12 

13 

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16 

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24 

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CIRCLE SIX NUMBERS FROM 1 -49 IN EACH GAME YOU WISH TO PLAY 


GAME 1 

GAME 2 

GAME 3 

GAME 4 

GAME 5 

123456789 

1234-56789 

1 2 3 4 5 6 7 8 9 

1 2 3 4 5 6 7 8 9 

123456789 

10 11 12 13 14 15 16 17 

10 11 12 13 14 15 16 17 

10 If 12 13 14 15 16 17 

10 11 12 13 14 15 16 17 

10 11 12 13 14 15 16 17 

18 19 20 21 22 23 24 25 

18 19 20 21 22 23 24 25 

18 19 20 21 22 23 24 25 

16 19 20 21 22 23 24 25 

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PAGE 6 


SATURDAY-SUNDAY, APRIL 26-27, 1997 


1 


editorials/opinion 


Reralb 


INTERNATIONAL 



(tribune 


PUBLISHED WTTK THE NEW kURK TIMES AND THE WUflINGTM POST 


Zaire Atrocities 


Laurent Kabila, the rebel leader who 
may soon be Zaire's new master, 
promises to end the manipulation of 
ethnic hatreds by President Mobutu 
Sese Seko for the past three decades. 
But a campaign of starvation and vi- 


olence against Hutu refugees in the 
area of Zaire now under Mr. Kabila’s 


control runs counter to that promise. 

The United States, in conjunction 
with the United Nations, should de- 
mand an immediate end to Mr. Kab- 
ila's deadly ethnic gamesmanship. 

International mining companies now 
rushing to sign lucrative contracts with 
his representatives should also heed 
these events, taking care that their roy- 
alty payments not be used to finance the 
crimes of a new Zairian dictatorship. 

Tnu, the Hutu now being victimized 
are not a sympathetic group of refugees. 
They fled Rwanda after losing a civil 
war there in 1994. But before their de- 
feat, Hutu militias in Rwanda instigated 
the killing of more than half a million 
Tutsi in Rwanda. After a Tutsi-Jed mil- 
itary force finally halted the slaughter. 
Hutu militias and civilians fled across 
the border into Zaire, where they were 
welcomed by Marshal Mobutu's gov- 
ernment and were soon launching new 
raids back into Rwanda. 

To counter the threat. Rwanda's 
government gave military support to 
Mr. Kabila's long-dormant rebellion. 
With Marsha] Mobutu’s own forces 
offering little resistance. Mr. Kabila's 
troops gained control of the eastern 
half of Zaire. 

That left the Hutu refugees adrift. 


Under international pressure last fall, 
more than half of them were safely 
evacuated back to Rwanda. But the 
remainder fled deeper into central 
Zaire. Now the rebels have caught up 
with them, and are effectively starving 
them to death. 

'Hie key Zairian airport in the rebel 
region has been virtually closed to them, 
preventing their evacuation to Rwanda. 
Food shipments intended to keep them 
alive in Zaire have been looted by local 
villagers with encouragement and ap- 
proval from rebel forces. Refugee agen- 


cies were kept away from their en- 
campments for days. When the agencies 


finally arrived on Thursday, they found 
the camps emptied of their inhabitants. 
Even mote ominously, local villagers 
report char rebel troops have been at- 
tacking and killing refugees. 

These atrocities must be halted at 
once. The United Nations must be given 
immediate access to ah civilian Hutu 
refugees and a chance to evacuate them 
to Rwanda. Those too weak or sick to 
move will have to be assured protection, 
under UN supervision, inside Zaire. 

After decades of Marshal Mobutu, 
almost any change of regime in Zaire 
looks good. Bur while Mr. Kabila so far 
appears less venal than his rival, he has 
given no indication of being any more 
tolerant or less ethnically divisive. He 
has offered no reliable commitments to 
democracy, humanitarian decency or 
the role of law. Zaire's people deserve 
better than to replace one cruel and 
arbitrary dictatorship with another. 

— THE NEW YORK TIMES. 


Debt Relief Plans 


During her recent trip to Africa, 
Hillary Clinton visited nations that be- 
lie the basket-case stereotypes often 
attached to the entire continent. In 
Uganda, for example, she praised that 
nation's democratization, its economic 
reforms, the “stunning growth rate" 
of its economy and its commitment to 
primary education for ail. 

Whether Uganda can make good on 
that revolutionary promise of universal 


primary schooling is to a large extent 
being decided in Washington, in meet- 


ings this past week and next Clinton 
administration officials and counter- 
parts from other wealthy nations, meet- 
ing at the World Bank and the Inter- 
national Monetary Fund, are debating 
how to implement a debt relief iniriative 
for developing countries. The terms of 


debate are dty, but what's at stake is the 
sibilitv of r 


possibility of reform and renewal. 

Many developing countries are so 
burdened by debt that a huge portion of 
their national income, including the aid 
they receive, is immediately recycled to 
batiks and governments to the north. 
Uganda spends about seven tunes as 
much on debt repayment as on primary 
education, while about one-third of its 
children can't go to school at all — 


although education is a crucial pre- 
requisite for development Blame this 
heavy burden first and foremost on the 
poor countries themselves, and on the 
corrupt regimes that squandered aid 
year after year. Nations where such re- 
gimes still hold sway should be cut off. 

But last fall, with strong U.S. lead- 
ership, the world’s leading lenders 
agreed that nations with a strong com- 
mitment to. and record of. reform 
should get some debt relief, or else 
even the best policies wouldn't save 
them. Now lenders will decide which 
countries will benefit, when and by 
how much. Some officials want to 
move slowly, either because they nev- 
er liked debt relief in the first place or 
to use the promise of forgiveness as 
leverage to promote further reform. 

But reformers throughout the de- 
veloping world need evidence that this 
debt initiative is for real — that swal- 
lowing tile medicine of economic re- 
form really will bring rewards. For rhar 


credibility to be achieved. Uganda. 
its k 


with its long and impressive record, 
should be given as much help as pos- 
sible. and other deserving nations 
should follow swiftly behind. 

— the Washington post. 


Budget Shenanigans 


The U.S. budget negotiators are said 
to have at least the outline of a deal in 
sight That’s good news if true — and if 
the deal is the right kind. The deficit 
reduction that they seek needs to be 
both genuine and fair. Those are rests 
that most past plans to balance the 
budget have failed. 

Genuine means the balance is more 
than momentary, more than something 
to pose for a snapshot, more than a 
one- or two-year vanishing phenom- 
enon. Thus the plan shouldn't carry its 
own built-in program to self-destruct. 
T ax cuts would be such a program. The 
Republicans are insistent on an array of 
them. The president long ago. and for 
the usual political reasons, said he 
favored such an offering as well. They 
are in agreement as ro many of the 
kinds of cuts that should be granted. 

The problem, of course, is that tax 
cuts add to the deficit the negotiators 
purport to reduce. The contradiction has 
been resolved on the Republican side 
particularly through the use of back- 
loading. Backloading is granting the tax 
cut but arranging things so that the 
serious revenue loss will not occur until 
after the year in which the budget is to 
be balanced and the snapshot taken. 

No sooner do you balance the 
budget, in other words, than you begin 


heavily of this defect. No balanced- 
budget plan thar includes such back- 
loaded cuts should be regarded as other 
than destructive and fake. 

The ait of the phony spending cut is 
unfortunately equally well developed 
The purportedly balanced-budget plan 
the president sent to Coagress earlier 
this year included a number of new 
spending programs that mysteriously 


slopped — just plain disappeared — in 

2002, dx 


, the yearrhe balance was supposed 
to be achieved. Both sides reach balance 


onjjaper by decreeing that by the year 


2002, the total available to the con- 
gressional appropriations committees 
for domestic purposes will be appre- 
ciably less, in real terms, than now. But 
the programs aren't actually cut That is 
left for others to do later. 

The fairness issue is also by now 
familiar. The tax cuts reward which the 
parties seem headed would mainly re- 
duce the liabilities of the better-off. 
Neither party wants to take the ax to the 
broad middle-class programs, mainly 
aid to the elderly in the form of Social 
Security. Medicare and Medicaid, that 
make up the bulk of the budget They’re 
left with the programs that aid the poor 
and what you might call the budget of 
the Federal Triangle, the operating 


to unbalance it again. The leading cap- 

sals 


t that supports everything from 
atrolai 


ital gains and estate tax cut propose 
on the Republican side and the pro- 
posals on all sides to create a broad new 
stream of tax-exempt investment in- 
come through a new kind of IRA. or 
individual retirement account, partake 


the Border Patrol and the highway pro- 
gram to Head Start. 

The right way to do this thing is to 
spread the burden, and unfortunately 
the burden needs to be real or the plan 
will just be fluff. 

— THE WASHINGTON POST. 


HcralbS^ertbunc 


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Made by the CIA: Mobutu and Other Disasters 


W ashington — what respon- 
sibility should we Americans 
feel when our government, for policy 
reasons, imposes on another country a 
regime that reduces it to misery? 

The decline and anticipated fell of 
President Mobutu Sese Seko should 
make us reflect on that question. For we 
invented the Zairian dictator, suppor- 
ted his corrupt regime for decades and 
filled his pockets with dollars. 

The Central Intelligence Agency 
made Marshal Mobura its man after the 
Congo (as it was then called) became 
independent in 1960. It backed him 
when he carried out a coup in 1965 and 
made himself president. 

Over the next 30 years, the United 
States supplied more than SI. 5 billion 
in economic and military aid to Zaire- 
Much of it was salted away by Marshal 
Mobutu in Swiss banks, or used to buy 
chateaux in Europe. 

Zaire was left to decay into the chaos 
portrayed by V. S. Naipaui in his novel 
“A Bend in the River. 

CIA officials and other Americans 
who dealt with Marshal Mobutu were 
under no illusions about him. In their 
view, we had to support him because he 


By Anthony Lewis 


was an anti-Comanznist bulwark in the 
Cold War. As Franklin Roosevelt said 
in another context, he was an SOB, but 
he was our SOB. 

In the 1970s. we enlisted Marshal 
Mobutu in a particular Cold War ad- 
venture: the arming of Jonas Savimbi, 
the Angolan rebel leader, in his attempt 
to overthrow the leftist government of 
Angola- The CIA got arms to southern 
Zaire, and from there to the Savimbi 
forces. The Angola caper gave Marshal 
Mobutu added leverage with his Amer- 
ican backers. If they wanted to keep the 
Angolan rebels in the field, he would 


say, they had to line his pockets. 

United States 


More than once die 
had the chance to press Marshal 
Mobutu for reform — and funked it. In 
1978. when we helped him put down a 
rebellion in Shaba Province, we could 
have called for democratization but did 
not. In 1991, after an army mutiny, a 
Bush administration committee recom- 
mended pressing Marshal Mobutu to 
retire, but the idea was quashed. 

Zaire is not the only example of U.S. 


governments using the CIA to reshape 
fee politics of another country, indif- 
ferent to the cruelties imposed on the 
people of that country. Guatemala is 
another, perhaps equally outrageous 
from the viewpoint of international law 
and human values. 

In 1954, a military coup sponsored 
by the CIA overthrew the left-wing 
government of President Jacobo 
Arbenz. one of die few in Guatemala's 
history that had been freely elected. 
The coup began a long national descent 
into savagery. 

In the 1980s, Guatemalan military 
forces carried out a relentless campaign 
against rebels among the Indians who 
mate up a majority of the country’s 
population. The military strategy was 
to destroy villages deemed sympath- 
etic to the rebels. In the end, 140.000 
people were killed or missing and one 
milli on displaced from their villages. 

Many Guatemalan military and polit- 
ical leaders were on the CIA payrolL 
Last year, the Intelligence Oversight 
Board found that the CIA had paid a 
number of military officers suspected of 
assassinations, kidnapping and torture. 

The Guatemalan civil war was fi- 


agreement 'signed MUece"” ■ — 
ercivii wars have ended m S 
and Nicaragua,, where to CIA was 


M I Li i 

even more deeply engaged- 
A tew months ago. the pA. 
public training manuals it had used wife 
Latin American security 
foj^finto eariy 1980s. The manuals 

carrying out the wishes of the highest 


American authorities. 

But the existence of the CIA, op- 


erating in secret, allowed those author- 


idesm act as if they knew nothing of the 
torments inflicted on other people m 
what we deemed to be our interest 
“Mobutuism is about to become a 
creature of history,’’ Mike McCurry. 
the White House spokesman, said on 
April 9, washing America’s hands of its 
SOB at long last. I would Wee to be 
around when a presidential spokesman 
says, “CIA corruption of other coun- 
tries’ politics is a creature of history. 

The New York runes. 


Blair and the Predicament of the Baby Boomer Politician 


L ONDON — The invocation 
of somebodyisra was Jack- 
sonian (Jesse, that is). But the 
speaker quickly moved on into 
Clinton country: “I am some- 
body of my own generation, a 


By Jim Hoagland 


generation that's grown up 
without die tags of easy political 
simplicities of left and right." 


The words come from Tony 
Blair, the 43-year-old barrister 
who seems to be rolling toward 
victory over Prime Minister John 
Major and the Conservatives in 
Britain's May I election. 

Mr. Blair expressed that core 
idea of his taut, effective cam- 


paign to Journalists Tuesday 
ana amplified it in an interview 


in The Sunday Times Mag- 
azine. “My guiding belief is 
that politics must be modern- 
ized." he said. "The way Bri- 
tain is governed is out of date, 
politics is remote and irrelevant 
to people." 

In Britain, the idea of gen- 
erational change in politics is 
still a strong selling point, even 
as in America Bill Clinton’s 
campaign finance and White- 
water-related troubles are on the 
verge of giving youthful polit- 


ical opportunism a bad name. 

Newt Gingrich’s problems in 
Congress and Benjamin Netan- 
yahu's moral disasters in Israel 
make the same point in their 
own very different contexts: 
Younger does not necessarily 
mean better or cleaner. The suc- 
cesses and failures of these three 
outwardly similar baby boomer 
leaders has little to do with age, 
everything to do with maturity. 

For many in the gaggle of 
American journalists sampling 
the British campaign, the prom- 
ise of generational change 
raises inevitable and unfavor- 
able comparisons of New La- 
bour Blair and New Democrat 
Clinton. 

“Tony Blair is not a British 
Bill Clinton." a London friend 
says preemptively and wearily 
before I can even ask. "Blair 
does not awake each morning 
anxiously waiting for an attack 
from the left. Blair awakes each 
morning thinking about how he 
can crucify his opponents first 
The politician he resembles most 
is actually Margaret Thatcher. " 


My friend requests anonym- 
ity, but be is well-positioned to 
assess these leaders. He is also, 
firmly in Mr. Blair's camp in 
Britain’s election campaign: 
His effort to make the cherubic- 
looking candidate seem like 
Stalin fits in. with Mr. Blair's 
effort to convince the electorate 
that he is tough and disciplined 
enough to hold Labour’s old- 
guard socialists in check. 

But that mini-portrait of Mr. 
Blair's ruthlessness — which 


The campaign maneuvering 
about ties with Europe is point- 


aiso stands in sharp contrast to 
the decent-bul-bemddled im- 


age thar now holds Mr. Major in 
a viselike grip — is based in 
reality. 

Mr. Blair has relentlessly de- 
politicized and transformed the 
Labour Party and turned it into a 
media-savvy machine dedi- 
cated to the one iron law of 


Blairism: The only point of 
elec 


elections is to get elected. 

Mr. Major in contrast has 
been unable to quell an ideo- 
logical riot in his Conservative 
Party over Britain’s links to the 
European Union. Presiding 


c omf ortably over an expanding 
economy, Mr. Major is not able 
to run his fractious party, which 
is intellectually and ethically 
exhausted by 18 years in 
power. 

ipaign 
vife Eu 

less at this stage. It represents a 
final Tory attempt to use the 
politics of fear (fear of foreign- 
ers and globalization) to halt the 
swing of the pendulum of time 
and of hope. If Mr. Blair con- 
tinues to perform as shrewdly 
on the campaign trail as he has, 
I don't see how toe Tory attempt 
will succeed. 

Conventional wisdom here 
holds that Mr. Blair’s real prob- 
lems start cm May 2. The Clin- 
ton precedent argues that a 
campaign retreat from grand 
principles and traditional con- 
stituencies of his party could 
leave Mr. Blair adnft in office 
without a road map or guiding 
star. 

If feat does happen, despite 
Mr. Blair's- manifest self-con- 
trol, intellectual clarity and per- 
sonal probity, it will suggest a 
larger reality: The world is in 


fee midst of a political change 
not of generations but of eras. 

What unites baby boomer 
politicians globally is the uni- 
verse of demands feat modem 
media and particularly televi- 
sion impose on them. These de- 
mands require them to be pro- 
fessional full-time politicians 
above all else — virtually from 
the cradle, or at least from the 
start of their careers. 

They must surround them- 
selves with consultants and 
pollsters, and finance specialists 
to pay the consultants and poll- 
sters. They do not run haber- , 
dasheries as Truman did or ex- 
plore continents & la Churchill 
before entering politics. Colin 
Powell ’s unwillingness feus far 
to test whether military service 
and glory are still a viable route 
to political power speaks to the 
weakness of that tradition now. 

Bill Clinton's White House 
experience has shown the weak- 
nesses fee modem closed circuit 
of politics creates. It will be up to 
Mr. Blair, if elected, to demon- 
strate feat it also creates 
strengths. 

The Washington Post. 



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Fujimori’s Triumph Obscures Some Macabre Revelations 


L ONDON — It is not Alberto 
Fujimori, in whose hands 
the decision never really lay, but 
fee army chief Nicolas de Bari 
Hermoza Rios and fee all- 
powerful master of fee intelli- 
gence service, Vladimiro 
Montesinos. whom we must 
thank for fee lives of 7 1 hostages 
in Lima. Thank you, therefore, 
for saving fee lives of fee hos- 
tages. you who have taken fee 
lives of many other Peruvians. 

It was a string of macabre 
revelations over the past two 
weeks about human rights vi- 


By Alvaro Vargas Llosa 


olations and government corrup- 
tion that precipitated the rescue. 

Leonor La Rosa, who 
worked for fee intelligence ser- 
vice. accused her superiors of 
torturing her because she had 
information about atrocities 
committed by them under fee 
guise of fee infamous ‘ ‘Colina’’ 
death squad. Horrendous pic- 
tures of me woman left no doubt 
that she had indeed been tor- 
tured. Then the mutilated 
corpse of another woman. Mar- 


iella Barreto, was discovered, 
confirming fee claims of Le- 
onor La Rosa and other former 
agents. Miss Barreto was the 
fianefie of Santiago Martin 
Rivas, former chief of the Co- 
lioa squad and Mr. 
Monresinos’s former right- 
hand man . Mr. Martin Rivas 
was sentenced to prison in 1994 
for the massacre of 26 people, 
innocents without terrorist 
links, at La Cantuta University 
and in Barrios Altos. 


No Pyongyang Reform, No Food 


W ASHINGTON — If the 
people of a faraway 
country are starving, does the 
United States have a moral 
obligation to feed them? Yes. 

The obligation is self-im- 
posed, to be sure, but, given 
the country we are, inescap- 
able. 

Now a harder question; If 
fee people of a faraway coun- 
try are starving, and feat coun- 
try (1 ) is a sworn enemy of fee 
United States, (2) has massed 
a million-man army within ar- 
tillery range of 37.000 Amer- 
ican troops defending a loyal 
ally and (3) threatens to in- 
cinerate our ally and our 
37.000 soldiers in a "sea of 
flames" — do we Americans 
still have a moral obligation to 
feed that country? 

No. Indeed the president of 
the United States has the con- 
trary obligation not to 
strengthen that enemy in any 
way. After all. a president’s 
first obligation is to die welfare 
and safely of his own people, 
especially American soldiers 
risking their lives abroad. 

Why, then, is the Clinton 
administration sending food 
aid to North Korea? 

North Korea is starving. 
Having ruthlessly imposed an 
absurdly anti-productive eco- 
nomic system — one that 
makes die old Soviet system 
look positively cornucopian 
— It cannot feed itself. A fan- 
atical militarism dial sacrifices 
its population to the greater 
gloiy of its armed forces com- 


By Charles 
Krauthammer 


Meanwhile, the Clinton ad- 
ministration has been trying to 
get North Korea to sit down 
wife fee United States, South 
Korea and China to hammer 
out a peace settlement for fee 
Korean Peninsula. We have 
waited a year for the North 
Koreans to say whether they 
would agree to these four-sided 
talks. North Korea finally said 
it would give an answer in re- 
cent meetings at the UN. The 
United States and South Korea 
sent delegations to New York. 
The Nonh K weans, after post- 
poning meeting after meeting, 
this past week finally refused 
to agree to the peace talks. 

As this slap m the face was 
being delivered, the State De- 
partment declared. “We don’t 
want to link food aid to the 
peace talks, because we want 
to get the food to fee people 
who need it quickly, without 
regard to politics and to in- 
ternational negotiations. ’ ' 

Indeed, the State Depart- 
ment spokesman Nicholas 
Bums enunciated a more gen- 
eral principle, saying countries 
ought to react to the famine 
"the way they would to any 
other part of fee world where 
there is a serious food crisis. 
All of us have a h umani tarian 


fee very military that is threat- 
ening American soldiers. 
Why, President Bill Clinton’s 
own defense secretary sugges- 
ted just a week earlier that fee 
North was asking for food "to 
keep its citizenry fed while its 
military continues to function 
and soak up what limited re- 
sources they have." 

And the chairman of the 
Joint Chiefs of Staff noted 
that, famine or no famine, fee 
North Koreans were engaging 
in more military training than 
ever. “If they are in such great 
difficulty, as they claim they 
are, and if they are in need of 
assistance," asked General 
John Shalikasbvili, “why are 
they spending their resources 
on this kind of military ex- 
ercising? You have to ask 
yourseif. , ’ 

Indeed, why give food aid 
to a country feat is snubbing 
peace talks, increasing its mil- 
itary training and quite pos- 
sibly preparing for war? 

Food aid? Yes, bur only in 
exchange for North Korean 
concessions. And we might 
demand something a bit more 
substantial than feat North 



say; 


imperative to help.’ 
In othi 


pounds fee problem. Yet fee 
united States has pledged S25 
million in food aid. 


Yet. according to state- 
ments this past week by its 
highest-ranking defector ever. 
North Korea is preparing war 
against South Korea and fee 
American troops based there. 


other words, the Clinton 
administration believes that 
we should deal wife famine in 
North Korea as we would 
famine in, say, Canada: wife a 
humanitarian heart and no 
strings attached. 

What kind of naivetfi is 
that? The administration can- 
not possibly believe that you 
can give food aid to North 
Korea without strengthening 


Koreans: Want food? We’ll 
give you food. On one con- 
dition: that you move a sub- 
stantial part of your forces 
back, say, 100 kilometers 
from fee DMZ. 

Thai kind of de-escalation is 
verifiable. It is tangible. And it 
would actually help protect 
our 37,000 soldiers. They are 
not just hostages to North 
Korea. They are wards of an- 
administrauon that seems in- 
capable of playing to win, 
even when dealt a hand wife 
four aces. 

Washington Past Writers Group. 


Those killings revealed fee 
existence of fee Colina squad 
and its links to the government 
The revelations of fee past two 
weeks indicate the squad has 
been more active than ever. Mr. 
Martin Rivas was freed by a 
government amnesty in 1995, a 
few months after he received a 
20-year prison sentence in an 
attempt to placate public opin- 
ion. Testimony of former in- 
telligence agents implicated 
him in the killing of Miss Bar- 
reto, who. it seems, knew too 
much. 

The revelation of these scan- 
dals led to reprisals against the 
media. The owner of Channel 2 
was threatened by Mr. 
Montesinos’s envoys, and also 
has been investigated by Peru’s 
Internal Revenue Service. The 
same kind of fiscal harassment 
is being suffered by Delia 
Revoredo, a Constitutional 
Tribunal magistrate who voted 
against Mr. Fujimori's attempt 
to violate a constitutional pro- 
vision that would bar him from 
another term in 2000. 

Even before news of the 
scandals, fee economy’s stag- 
nation had sent Mr. Fujimori’s 
larity ratings dropping. 


was guilty of corruption and 
human rights violations. The 
opposition began to talk of an- 


3.TI 

r.-is 


Mir- 

.-r mam*** 

sctpAf ******* 

- :V Mir. •. • Mllri* fM 

vHNwitirf •• id** m* 

■-.'la** •» . 

-4 • '#d*4*** 

■ t air Mk. Wmm 
.'...vaiflNM ■ mm?. . 




other corn. 

Should it surprise anyone 




m 70 percent to 45 percent. 
Sun ‘ 


But last Sunday, after fee scan- 
dals broke, polling agencies re- 
gistered a massive drop in fee 
government's fortunes. Mr. 
Fujimori’sratings fell to 35 per- 
cent, wife disapproval ratings 
up to 60 percent 

those 
lontesinos 


feat fee militaiy decided to go 
ahead Tuesday and risk 
everything at the Japanese Em- 
bassy in Lima? 

The military has won its bet/ 
and achieved (thank God) the 
liberation of 7 1 hostages. It has 
feus obtained a new legitimacy 
born of force, the same kind thar 
it obtained in fee 1992 coup and 
that was confirmed in 1995 in a 
border war with Ecuador, 
which the Peruvian military lost 
in fee Alto Cenepa region but 
won where it really mattered, by 
destroying the political oppo- 
sition. The same will happen 
now: who will dare, in the next 
few months, to recall (he hor- 
rific revelations of fee past two 
weeks? 

Eveiy success achieved 
through force by this govern- 
ment has run out of steam, soon- 
er or later. In this case, the oxy- 
gen will not run out before 
military officials achieve whatg; 
they are really after Mr. 
Fujimori's unconstitutional re- 
election and the preservation of 
a power structure whose hands 
are stained by too much blood 
and whose pockets are stuffed 
wife too many dollars. 


"tfV a/ ' 


‘s v . m 

^a\- 
"c.r: ■ 





• Min, 




? .cunn 
■ 12 

* •!■» t--i 

rt-LUWtt. ..**■/ 

net nut: 


«*y w uv 1 U 

Eighty-two percent of th< 
polled thought Mr. Montesix 


The writer is a Peruvian jour- 
nalist. son of the novelist Mario 
Vargas Uosa. This comment 
was distributed by the Los 
Angeles Times Syndit 


icate. 


IN OUR PAGES; 100, 75 AND 50 YEARS AGO 


1897; Japanese Navy 


PARIS — The Japanese Gov- 
ernment plans an extensive nav- 
al building scheme which should 
be completed by 1 906. The Cab- 
inet decided to increase fee num- 
ber of cruisers and to build ships 
of greater displacement. Japan 
wifi consequently attain an un- 
rivalled position as a naval 
Power in fee Far East, and fee 
policy of European Powers be- 
ing to retain their battleships in 
home waters renders it improb- 
able that even England or Russia 
will be able to atm at naval su- 
premacy in fee Eastern seas. 


Siavia felt that Vienna was the 
proper place for a Monarchist 
rally. In Prague, long hostile to A 

rh(* WtncHi TTrrr n.iLK#. « 


fee Hapsburgs, any public 
manifestation of mourning for 
the late Emperor would have 
roused suspicions, and fee 
Hapsburgs were declared en- 
emies of Belgrade. 


1922: Nostalgic Lords 

VIENNA — Vienna is passing 
through an era of Monarchist 
propaganda. The ex -Emperor’s 
death brought to Vienna nearly 
all the aristocrats from Austrian 
country-seats and fee neighbor- 
ing states. The feudal lords of 
Czechoslovakia and Yugo- 


1947: Libya’s Status 

JERUSALEM — premier 
Jamal Mardam of Syria said feat 
Tudcey will request fee trust- 
eeship of Libya when fee status 
of the former Italian colony 
comes up before the United Na- 
tions. The Arab stales want 
Libyan independence to 
strengthen fee Arab camp, while 
Britain is grooming Turkey on 
*e argument feat Tuffcey ntied 

fefc ftmintni iniii 


U ia i 1 U 1 MJ 1 UIUM 

fee country in 1912. Britain op- 
poses fee extension of Arab in- 
fluence, while France welcomed 

1 i « ■ 


Turkey trusteeship as & barrier 
between fee Arab T and 
her North African possessions. 




















INTERNATIONAL HERALD TRIBUNE, SATURDAY'S UN DAY. APRIL 26-27, 1997 


PAGET 


INTERNATIONAL 


* Italian Troops in Albania Face Fragile Calm and Uncertain Mandate 


'X 

7 


'A 


& 


* 


By Jane Perlez 

Afrw- York Times -Service 


VLORE, . Albania — The guns and 
ammunition have been: stashed in 
homes, and gangs now restrict most of 
meir shooting to the cover of night. But 
the apparent calm that greeted the Italian 
soldiers who came ashore at this mer- 
curial port town on the Adriatic this 
week appears very flimsy. 

"We don't trust die situation much,” 
said Colonel Carmelo Abisso, chief of 
operations for the 1,000-man Italian 
force, whose last units arrived Thursday. 

‘We also have to take into consideration 
Bosnia and Somalia, and it all makes us 
very cautious.” 

After four days here, the Italians have 


been barely seen in the town that was the 
epicenter of the violence that rocked 
Albania last month after the collapse of 
spurious financial schemes. The soldiers 
nave kept a low profile, patching up their 
wretched living quarters in looted Al- 
banian Army barracks and visiting the 
melange of competing local authorities. 

More than any of the other European 
nations contributing a total of 6,000 
troops to the UN-backed mission that is 
to fan out over Albania, the Italians must 
overcome psychological barriers 
brought about by the often hostile re- 
lationship between Italy and Albania, 
which Italian troops occupied during the 
two world wars. 

This, historic tension is .particularly 
strong in Vlore. After withdrawing from 


Albania at the end ofWorid War I, Italian 
forces returned to Vlore in 1920 and 
declared the city a protectorate, but after 
eight months they were pushed back into 
the sea by local righting units. 

Now, on top of the difficulty of an 
uncertain mandate, the Italian soldiers 
must deal with the complex emotions 
aroused by their presence here. Even 
though Vlore residents spend hours 
watching Italian television and back 
Italy’s sports teams, many of their fore- 
fathers fought the Italian forces in the 
past. 

The Italians also have to overcome 
practical problems caused by the high 
expectations of the people here who 
seem to expect the; Italian troops to open 
the schools and the university and 


provide bulletproof vests and modem 
weapons to the impoverished, inept and 
corrupt local police force. 

The Italian commander. General Gir- 
olano Giglio. said he was horrified when 
he heard that Albania's president. Salt 
Berisha. had suggested that the Italians 
should go on joint patrols with the po- 
lice. "I have explained we don't have 
any police mission.” General Giglio 
said. “It is not my job to control the 
people and take arms.” 

Instead of disarming the heavily armed 
population who emptied the military 
storehouses last month. General Giglio 
said his job was to help deliver aid and. by 
his troops’ presence, to provide a calming 
influence. He acknowledged that the 
people were well-fed — open markets 


are flourishing — but said he believed 
that a return to normalcy was needed. 

The desire by the Italian troops to 
keep their distance from the Vlore police 
— who have condoned much of the 
smuggling of drugs, weapons and people 
that has provided the town with most of 
its income since the collapse of com- 
munism — soon became evident. 

Mr. Kordha said he wanted to get “rid 
of the criminal gangs.” but at the same 
time, he said the best-know n JocaJ gang 
leader. Panizan Caushi. was “a help.” 
The police chief said Mr. Caushi, pop- 
ularly known as Zani. was just a "man 
who runs with guns” and had recently 
assisted with security for visiting dig- 
nitaries from Tirana. 

But many people said Zani's gang. 


POLICY: Republicans Gain Concessions 


Continued from Page 1. 

could bottle it up indefinitely in his 
committee if the White House and State 
Department took the path of confron- 
tation, as they did last year. 

"We knew Helms wanted his com- 
mittee to be a serious player, so Secretary 
of State Madeleine Albright decided to 
work with him on his key concerns,” a 
State Department official said. 

This was just practical politics, of- 

Terms of the Treaty 
On Chemical Arms 

New York Times Service 

Current signers: Signing began in 
Paris on Jan. 13, 1993, when 1 30 nations 
signed, including the United States and 
Russia. The total is now 163. 

Current ratifiers: 75 countries. Iran, 
China and Russia have signed but not 
ratified; Iraq and Libya have not signed. 

Effective daterOn Tuesday, 180 days 
after the 65th ratification. On May 6, a 
conference is to select members of the 
executive council, which sets rules for 
verification. Countries not parly to the 
treaty get no seats. 

Nations with chemical weapons: 
Only the United Stales. Russia and 


ficials said. Another bruising fight with 
Mr. Helms and his allies would have 
jeopardized the administration’s pros- 
pects for several high-priority objectives 
— not just the chemical treaty but ad- 
ditional spending for international af- 
fairs, payment of bade UN dues and 
arms control agreements with Russia. 

Mr. Clinton's decision to pursue a 
bipartisan approach produced months of 
public stroking of prominent Republican 
officeholders, past and present 

Combined with the concessions pack- 
age and intense negotiations on the 
treaty itself, the campaign paid off as the 
Republican-controlled Senate provided 
(he required two-thirds majority. 

Mr. Clinton invested more political 
capital in w innin g approval of the chem- 
ical weapons ban than on any other 
international affairs issue since the 
North American Free Trade Agreement 
during his first year in office. 

His final gesture came in a letter to 
Mr. Lott on Thursday morning prom- 
ising to pull the United States out of the 
treaty if the pact ultimately stimulated, 
rather titan reduced, the proliferation of 
poison gas weapons. It could turn out, 
however, that the price remaining to be 
paid is greater still. 

For example, the president agreed to 
submit for Senate ratification raodific- 



Fayei Nnfdnflc/Apuc Fraact-ProK 

A NEW PROTEST — Palestinian children and Israeli soldiers engaging in a standoff Friday in the Gaza 
Strip. The Palestinians were protesting a plan by Jewish residents in Gosh Katif to expand their settlement 


a and Iraq ations to two existing treaties that the T A "DA 1YT* HT J Q I O j. j. r% n • jr T70CCTT C. 
report having such weapons. About 20 White House had previously said did not J/ % m . /\ I U I lrOUC OUTDIUS bet tO mj€ MACineCl in J/ \Jk3oJ-LikJ* 

— * - • tv. g I 


other countries have or are seeking the 
ability to make them, including North 
Korea, India, Pakistan. Libya. Iran, 
China and Israel. 

The treaty: 

• Bans development, production, ac- 
quisition, stockpiling, transfer and use of 
chemical weapons. 

• Prohibits any party from helping 
any other country do any of the above. 

• Requires elimination of all chemical 
weapons and production facilities by 
2007. The United Stales is already ob- 
ligated by law to do so by 2004. 

• Creates Oiganization for the Pro- 
hibition afQjermcal Weapons to condnct 
routine and unannounced inspections of 
companies using chemicals covered by 
the treaty. Intrusiveness varies with tire 
risk that a facility or its products could be 
used for prohibited purposes. 

• Requires parties to report location of 
chemical weapons storage sites, location 
and characteristics of production and 
research facilities, details of all equip- 
ment transfers since 1946, plans far des- 
troying chemical weapons and location 
ana activities of any faalrty using or 
producing controlled chemicals. 

• Takes into account dual-use chem- 
icals that can be used for weapons. 

• Allows any party to the treaty to 
request a ‘‘challenge inspection” of any 
site in another nation.- lire request may 
be denied if three-quarters of the 41 
countries on the executive council ob- 
ject; the council must act within 12 
hours. Allows the country facing inspec- 
tion to manage access to protect military 
secrets or proprietary information. 

• Establishes trade sanctions on 
chemical exports from countries not part 
of the treaty. 


require Senate approval. That means Mr. 

Lon and Mr. Heims are assured an im- 
portant say that they would not have had 
otherwise. One of the agreed treaty re- 
visions. negotiated by Mr. Clinton and 
President Boris Yeltsin of Russia in Hel- 
sinki last month, would define what 
kinds of short-range missile defenses are 
permitted by the 1972 Anti-Ballistic 
Missile Treaty. 

Until recently tire administration ar- 
gued that this agreement was just a tech- 
nical modification of an existing treaty 
and did not require reratification. 

The second is a modification of the 
treaty on Conventional Forces in 
Europe, which is a baric building block 
in negotiations with Russia over the ex- 
pansion of NATO. 

"The administration bad previously 
refused to submit these treaties to the 
Senate for ratification,” Mr. Lott said 
Thursday. "From the very beginning of 
tiie 105th Congress, I made dear to the 
administration that bnrartisanship could 
not mean farcing the Senate into acting 
on the administration’s chosen prior- 
ities. It had to include action on some of 
our priorities — arms control treaties we 
believe deserve Senate consideration. 

State Department reorganization and 
real reform at the UnitedNations.” 

The administration has now accepted 
most, but not all, of his position on the 
changes in the treaties. It also has offered 
a State Department reorganization plan 
largely consistent with one Mr. Helms 
proposed two years ago. In addition. 

Senate sources said, the administration 
has agreed that any action on its pro- 
posed special appropriation to begin a strong domestic demand-led recovery 
; off the UN arrears must have the ■' and avoiding a significant increase in its 


Continued from Page 1 

Yet he said be would be interested in 
an eventual decrease "to reduce the bur- 
den” on Okinawa's people if the Asia- 
Pacific region stabilized. American of- 
ficials have expressed concern about the 
impact of a new allegation that a U.S. 
serviceman attacked a woman in Oki- 
nawa, site of a major military base. 

On the economic front, Mr. Hashi- 
moto said that be had assured Mr. Clin- 
ton that Japan’s policies are directed 
toward" achieving greater : economic' 
growth through increased domestic de- 
mand rather San by increasing exports. 

Japan’s surplus has been shrinking in 
recent years, although it began going up 
again Iasi fall, causing some officials in 
Washington to worry about the long- 
term trend. 

‘‘Obviously, we don’t want it to go 
back up,” Mr. Clinton said before start- 
ing his talks with Mr. Hashimoto. 
"We’ve made some real progress.” 

Earlier Friday, Treasury Secretary 
Robert Rubin implicitly asked Japan to 
make sure that its economic recovery was 
fueled by domestic demand rather than 
by exports driven by the cheap yen. 

Mr. Rubin said the United States 
shared Japan's concern about the yen's 
current weakness. 

He also said that questions about 
growth in Japan would be raised at the 
Group of Seven talks in Washington on 
Sunday. 

‘‘An important focus for our meeting 
will be japan's challenge of maintaining 


stressed the importance of the U.S. -Ja- 
pan alliance. 

"It’s important to reaffirm that the 
relationship the United States has with 
Japan is unique and comprehensive and 
profoundly important to our future,” the 
president said. 

Mr. Hashimoto thanked Mr. Clinton, 
whom he addressed as Bill, for inviting 
him to the White House on Thursday to 
celebrate the Senate’s ratification of a 


treaty banning chemical weapons. * MVJ ivtiunw l»» v »* wvtw (Maw ■ v 

“The fact that I was able to share that ported Thursday on some of their find- 


Dinosaur Bed Found 

Continued from Page 1 

were presented last October in New 
York City at a meeting of the Society for 
Vertebrate Paleontology. 

They caused such a scientific sen- 
sation that Donald Wolberg of the Phil- 
adelphia academy arranged for a trip by 
international experts to inspect the site. 
They returned two weeks ago, and re- 


wonderful moment together with the 
president itself makes my trip to Wash- 
ington worthwhile,” Mr. Hashimoto 
said. 

Asked about the friendship treaty 
signed this week by the leaders of Russia 
and China, both men said it posed no 
obstacle to continued positive U.S. re- 
lationships with Russia and China and 


mgs. 
John 


Yale Uni- 
1964 dis- 


other Asian nations. 


(AFP. AP) 


paying 

approval of Mr. Helms’s committee. 


TREATY: Clinton Foreign Policy Victory 


Continued from Page 1 


lines, reaching for the common good,” 
he said- “This vote is vivid proof that we 
are stronger as a nation when w 
together.” 


outlined three circumstances under 
which, after consultations with Con- 
gress, he would be "prepared to with- 
draw from the treaty.” He would do so, 
we work he said, if transfer of defensive equip- 
ment to another country could result m 


external surplus,” he said. 

As for the United States. Mr. Rubin 
said, "we have a strong dollar and solid 
growth." 

He recalled that Japanese authorities 
had "expressed their concern at the 
weakness of the yen,” adding that this 
was "a concern that we share." 

Hoping to keep the diplomatic waters 
calm, the Clinton administration stepped 
lightly over its disagreement with Japan 


21 Die in Bombing 
Of Algerian Train 

Reuters 

ALGIERS — A bomb hidden 
under railroad tracks blew up a train 
Friday south of Algiers, killing at 
least 21 people and wounding 20, 
security forces said. 

The artack capped a week of 
bloodletting, including three village 
massacres. Some 440 people are 
known to have been killed in the last 
four weeks, with most attacks oc- 
curring in the region south of Al- 
giers. A total of 160 have died in the 
last four days. 

The train attack occurred at S 
A.M. at Gue de Constantine, just 
south of Algiers, on a line running 
between the capital and Blida. about 
50 kilometers (30 miles) south, the 
authorities said. 


Ostrom, a retired 
versity professor who in 
covered the velociraptor dinosaurs made 
famous in the movie “Jurassic Park," 
headed the inspection trip to China. 

"This was one of the most exciting 
moments of my life," he said. “I’m not 
aware of any richer fossil sites any- 
where.” 

Among the fossils the group ex- 
amined were several specimens of sino- 
sauropteryx. an animal very similar to 
compsagnathus dinosaurs. In one of the 
fossils, they found an oviduct containing 
an egg that would have been laid if the 
animal had lived. 

This was the first fossilized internal 
organ ever found in a dinosaur. 

In another specimen of the same spe- 
cies. they found the fossil jaw bone from 
a primitive mammal that the dinosaur 
had just eaten. The jaw bone is about an 
inch wide and is studded with sharp little 
teeth. 

The main immediate interest of the 
group focused on specimens that might 
or might not represent transitional life 
forms between dinosaurs and birds. 

Although a majority of paleontolo- 
gists accept the view that modem birds 
are direct descendants of dinosaurs, oth- 
er experts argue that the two lines are 
merely "convergent” — that they 
evolved into similar forms through a 
process of parallel evolution, not by di- 
rect kinship. 


which this week roughed up a meeting of 
the rebel committee that has tried to run 
the town for the last month, terrified 
them. Colonel Abisso said that Mr. 
Caushi “is a big problem for the pop- 
ulation — they are afraid of him.” 

■ Turkish Soldier Is Wounded 

The multinational security force in 
Albania suffered its first casualry Friday 
when a Turkish soldier guarding the 
international airport was hit in the hand 
by a stray bullet. Reuters reported. A 
military spokesman said the wounded 
man was among 700 Italian and Turkish 
soldiers who have taken control of Rinas 
airport, 25 kilometers { 15 miles) outside 
Tirana. With the airport secure, six ci- 
vilian flights are now arriving daily. 


CARS: 

Latins Lure Builders 

Continued from Page 1 

Inflation, once at crippling annual 
rates of 5.000 percent or more in both 
countries, is now running at 9 percent in 
Brazil and just 1 percent in Argentina 
Banks, once reluctant to lend, are now 
happy to make car loans. 

Jose Filho. a retired sales manager, 
said that he and his wi fe, Theresinha, had 
watched with amazement as their three 
married children, two engineers and an 
architect, had bought a total of 10 new 
cars in the last three years. "We just 
have one car,” a 1987 Chevrolet 
Chevette, Mr. Ftlho said. 

And Marcelo Suarez, a 27-year-old 
worker at a Volkswagen factory near 
Buenos Aires, said that a bank loan last 
year had allowed him to buy his first car, 
a 512,000 VW Pointer. “Before, there 
weren’t any loans,” Mr. Suarez said. 

The Japanese in particular have con- 
cluded that Brazil and Argentina rep- 
resent the largest and most attractive of 
the world’s emerging markets, and are 
beginning to set up factories here. 

By comparison, the smaller auto mar- 
ket in Thailand is becoming saturated; 
China and Indonesia pose political dif- 
ficulties; India still has too few roads, and 
demand is only beginning to rise in East- 
ern Europe, said Koichi Kondo, pres- 
ident of Honda Motor of Brazil Ltd. 

For half a century, predictions have 
abounded that Brazil would become a 
true economic powerhouse only to see 
growth suppressed by political instabil- 
ity, hyperinflation and protectionism. 
After a similar experience for 40 years. 
Argentina got off to a roaring start in the 
early 1990s but then suffered the effect 
of Mexico’s recent recession, which 
dampened its economy and cooled in- 
ternational investor interest 

Some skeptics question the wisdom of 
expanding the Brazilian and Argentine 
auto industry to the point that it can 
supply a market the size of car-crazy 
Germany. They worry about an invest- 
ment frenzy leading to a surplus of cars 
sold off for a loss. Also, the export of 
surplus cars from here could worsen an 
international glut of car production. 

Ford Motor Co., which alone among 
the world’s auto giants is not building 
new plants here, questions other auto- 
makers' ambitious plans. 

"They are underestimating by far. I 
think, the difficulty of operating here, 
and overestimating the potential.” said 
Ivan Silva, president of Ford of Brazil 
Ltd., which already has two huge as- 
sembly plants near Sao Paulo, a vast 
factory city choking on air pollution and 
traffic, with as many people as New 
York City and its suburbs combined. 

Aside from pollution and traffic, too 
rapid growth can create other worries. 
Auto sales in Brazil in the first quarter 
ran at an annual rate of 2.2 million 
vehicles, triple the level five years ago. 
feeding concerns dial the economy may 
be overheating. Auto sales in Argentina 
have also been brisk, running at an an- 
nual pace of 400,000. 

Since Brazil has extraordinary in- 
come inequality, one of the widest gaps 
between rich and poor of any country, 
according to the World Bank, some 
automakers are hedging their bets by 
pursuing wealthy customers, who are 
likely to go on spending even if the 
economy sours. 


seiner- invm auvmu vvuuu J vuuiu i»im ui uguujr uvvi iio uioa^ivuiiwm wmwapujj 

p^Republiam leadership in the Senate cap^tiitiesf if^chnology and chemical provide emergency food aid for North TURKEY: War of Nerves Heats Up Between Army and Islamists 

" ’ " * : * 1 ‘ ’* Korea. 


to" support the treaty. Mr. Helms re- exchange requirements are used to erode 

international export c 


mained resolutely opposed. international export controls; or if these 

Although Mr. Lon’s decision was requirements are carried out in ways that 
clearly important, the treaty appeared to jeopardize U.S. security by contributing 
have gathered impressive strength even to arms proliferation. These are in ad- 
dition to assurances already written into 
the Senate’s resolution of ratification. 

Mr. Lott interpreted the new assurances 
as an “ironclad commitment from Mr. 
Clinton to the Senate. “It's very strong 


have gathered impressive strength 
before that, thanks in part to a surprise 
boost from Bob Dole, the former Senate 
majority leader and the 1 996 Republican 
presidential candidate. 

The action Thursday climaxed a Jong, 
grueling odyssey for the Chemical 
Weapons Convention, which outlaws 
development, production, storage or use 
of chemical warfare agents. 

It was negotiated by the administra- 
tions of Presidents Ronald Reagan and 
George Bush and was near a vote last 
year until Mr. Dole raised objections. He 
reversed himself Wednesday, saying he 
was satisfied by later clarifications. - ; 

The United States and Russia — ? the 
two countries with by far the largest 
stockpiles of chemical arms — already 
have pledged to destroy them. Bui both 
governments have supported the pact as 
a way to make permanent and universal 


language — and unequivocal language — 
from the president,” he said, terming the 
assurances "unprecedented.” 

Mr. Loti, who has had few victories in 
the 105th Congress, also had a big stake 
in the outcome, which many said would 
help define the direction and stature of 
his leadership. . 


In a brief session with reporters before 
his Oval Office meeting, Mr. Clinton 
was asked if Japan should give more 
aid. 

“We need to discuss that,” he said 
without elaborating. 

The Clinton administration wants 
more countries to respond to UN appeals 
for food aid for North Korea, where 
floods the last two years have devastated 
farmland in an already impoverished 
country. 

Japan, angered by allegations thai 
North Korean agents kidnapped several 
Japanese citizens in the 1970s. has 
balked. 

Mr. Hashimoto and Mr. Clinton also 


Continued from Page 1 

Mr. Erbakan returned from a pilgrim- 
age to Mecca earlier this week to face an 
open challenge from the ranks of the 
military, whose generals, while ruling 
out a coup, have made no secret of their 
determination to rid Turkey of the “anti- 
secular" threat. 

Late last week. Brigadier General Os- 
man Ozbek lashed out at Mr. Erbakan, 
criticized his pilgrimage to Mecca, and 
vowed to fight against Islamic radicals 
as fervently as he fights against Kurdish 
separatists in southeastern Turkey. 

Referring to the Kurdish Workers 
Partv. General Ozbek was quoted as 


saying. “Just as 1 have struggled with 
the PKK for 13 years. 1 will struggle 
against these." Islamic radicals. 

~Mr. Erbakan's Islamist justice min- 
ister. Sevket Kazan, announced that he 
had launched an investigation of the 
general, whose words, he said, “con- 
tained elements of insult." 

The general staff, however, has tacitly 
backed the general, and Defense Min- 
ister Turban Tayan later said the Justice 
Ministry had no authority to prosecute 
military personnel. 

The military, which is the constitu- 
tional guarantor of Turkey's modem 
secular heritage, has taken power three 
times since 1960. 


Mr. Erbakan's coalition partner. 
Deputy Prime Minister Tansu Ciller, 
who heads the pro-secular True Path 
Party, denied Friday that she would pull 
our of the coalition. 

Mrs. Ciller has made tentative moves 
toward implementation of the Security 
Council's recommendations. Her interi- 
or minister. Meral Aksener. gave in- 
structions to provincial governors last 
week to dismiss known Islamist activists 
working in state offices and to strictly 
enforce dress codes in public buildings. 

Mrs. Ciller also announced this week 
an overhaul of the education system that 
would discourage students from attend- 
ing religious middle and high schools. 


CZECH: Prosecution of a Far-Right Leader for Hate Speech Raises Fears of Communist-Style Oppression 


the abolition of weapons widely viewed 
as particularly horrifying. 

Mr. Clinton's letter was aimed at al- 


laying fears that provisions designed to 
encourage technology exchanges and 
assistance to countries threatened by 
chemical attack are not used to under- 
mine U.S. defeases or help "rogue 

countries develop new weapons 

It also enabled Mr. Loti and other 
Republicans to claim high-profile con- 
cessions from Lhe administration, pro- 
/ viding them with political cover from 
attacks by the treaty’s foes. 

In his two-page letter. Mr. Clinton 


Continued from Page 1 

flammatory anti-German statement made months 
ago poses a nettiesome dilemma for Czech leaders: 
How can they protect freedom of speech — - among 
the most cherished prizes of the anti-Communist 
struggle — and guard against age-old hatreds that 
have historically moved Europeans to violence? 
Are legal constraints on “hate speech” compatible 
.with the development of young. democracies? Or 
are the new democrats merely repackaging Com- 
munist-style oppression for their own purposes? 

The predicament posed by hate-mongering, even 
prominent Communist-era dissidents say, requires 
a- less absolute standard of free speech than is the 
norm in the. United Stales. 

Qiily- with the passage of lime • — perhaps an 
entire generation' — may the situation change and 


Firs! Amendment guarantees be appropriate, said 
Jiri Dienstbier, a former Czechoslovak foreign 
minister who was imprisoned for his antf-Com- 
munist views in the 1980s. 

“We know how fragile democracy can be if it is 
not protected.” Mr. Dienstbier said. “Right now it 
is more, dangerous to democracy if someone is 
permitted to ran hatreds like this. What Sladek says 
strikes a chord in the souls of people.” 

But by locking up Mr. Sladek, others fear, his 
outlandish views gain d wider audience, while well- 
meaning authorities are cast os authoritarian 
thought police. 

Limiting freedom of expression erodes public 
confidence in democracy, possibly releasing more 
demons than it restrains, said Jun Bluha. a Social 
Democratic member of Parliament. 

“Why on earth should we tum this man into a 


martyr?” said Mr. Bluha. whose opposition party 
has opposed Mr. Sladek \s prosecution. “It would 
be much more charact eristic of a democracy if the 
voters simply rejected him at the next election." 

The Czech police have charged Mr. Sladek. 46. 
with inciting national and racial haired, a criminal 
offense that carries a maximum one-year prison 
term. The law was written decades ago by Com- 
munist authorities, it encompasses many other pro- 
hibitions. including a ban on ridiculing the pres- 
ident and the slate. The same provisions were 
invoked lo silence anti-Communist dissidents. 

The charge against Mr. Sladek stems from a 
stridently anti -German speech he delivered in Janu- 
ary at the gates of Liechtenstein Palace in Prague, 
where Gemuin and Czech leaders had gathered to 
sign a long-awaited agreement on the countries’ 
World War II grievances. The far-right Republican 


Party, which holds 18 seats in the 200-member 
Czech Parliament, had come to protest the un- 
popular declaration. 

"We can only regret that we killed too few 
Germans” during the war. Mr. Sladek shouted into 
his microphone before the police managed to cut off 
the power, it was these words lhai authorities 
determined crossed the criminal threshold. 

Mr. Sladek is not cooperating with the police. He 
said in an interview that he is prepared to go lo jail 
for his beliefs. 

“Freedom of expression is indivisible — either it 
is for all of us or if is for nunc of us.” said Mr. 
Sladek. 

“Democracy cannot operate on a five-year 
plan." he added, “where certain views are per- 
mitted at the beginning and only with time general 
freedom of expression is allowed." 



INTERNATIONAL herald tribune 
SATURDAY-SUNDAY, APRIL 26-27, 199; 
PAGE 8 


Man Ray: A New Look 
At the Jack-ofAllArts 


N ICE — The 500-irem Man Ray 
exhibition here is the first ret- 
respecti ve France has devoted to 
that eminent conceptual tinkerer 
and jack-of-aJI-ans since the big Paris show 
celebrating him just four years before his 
death in 1 976. 

Man Ray. whose real 
name was Emmanuel 
Rudniisky. was bom in 
Philadelphia in 1S90, In 
1911, at the age of 21 he jjMpgp-7!^! 
moved to New York to . 

take drawing lessons. JK 

That same year he wan- ffijf 

dered into the gallery at i§[ _ 

291 Fifth Avenue foun- ^8 fplfe. 

ded and run by the pho- I y W 

tographer Alfred Stieg- \ 

Thanks to Stiegfitz. \ _ 

the budding artist dis- goM 

covered not only pho- T&gfiPB 

tography but also cer- _ jiff l| 
tain aspects of that ^ p3 «gr 

startling phenomenon 
known as “modem 
ait." which was to hit 
New York just two 
years later, with the Ar- r J ' 
mory Show. 

Man Ray appears to Self-portrait, hi 
have been most im- 
pressed by the Cubist works he saw there. A 
number of paintings done in 1913. includ- 
ing a portrait of Stieglitz. are in this idiom. 
Man Ray was then a 23 -year -old with a 
promising talent and an unusual willingness 
to experiment with new forms. 

Shortly thereafter, he met Marcel Du- 
champ and they became lifelong friends 
and accomplices. They had a common 
fondness for irony, humor, provocation and 
both were inclined to take a cheerfully 
cynical view of life. Man Ray’s talent fol- 
lowed several parallel paths. He made his 
reputation and earned his living as a pho- 


By Michael Gibson 

fniernalionat Herald Tribune 


stressed by the inscription of the instru- 
ment’s f-shaped sound-boles on her back. 

Man Ray also enjoyed producing quaint 
or provocative objects whose impact on the 
viewer today suffers considerably from the 


fact that artistic innovation generally tends 
rn trickle down into the novelty trade. Some 


% 


Self-portrait, half-bearded. 1943 . 


to trickle down into the novelty trade. Some 
decades ago, for instance, American drug- 
stores carried such items as “a gift for the 
man who has every- 
thing: a mink tooth- 
brush." The popular- 
ization of this sort of 
jJjHk easy humor (no doubt 

inspired by Meret Op- 
iHK penheim’s mink-lined 

cup), rather takes the 
* wind out of the sails of 

_ such items as Man 

-S”) Ray's laundry-iron with 

Pjfc* nails attached to the 

lower surface. 

^ C? But Man Ray him- 

■ self occasionally, and 

\ t rather unfortunately. 

*&*«£ indulged in facile 

*• / wordplay, as in, for in- 

/ stance, a piece com- 

posed of two large bed- 
m fflr springs mounted on a 

cigar box and entitled 
' x •— ire “Spring-time." 

^ As for the paintings 
and drawings, we can 
f -bearded. 1 943. only acknowledge that 

Man Ray was not ex- 
actly outstanding in this field. A viewer's 
interest may be aroused by a painting or a 
drawing, but ii is nearly always the un- 
derlying concept which intrigues one. Such 
is the case of his imaginary portrait of the 
Marquis de Sade whose massive head is 
composed of stones (those of the Bastille, 
perhaps?), or of the painting showing two 


large red lips floating in die evening sky. 
The fact that the Nice exhibition does not 


tographer. thanks to which we have splen- 
did photo portraits of many of the major 


include the originals of these two paintings 
(but a lithograph of one and a photo of the 
other ) is of no great consequence, however, 
precisely because the idea is. in either case. 


did photo portraits of many of the major 
artistic figures of the period. But he also 
experimented endlessly in the field of pho- 
tography. He created such innovative ef- 
fects as solarization < the print is exposed to 
light during the process of development). 

His delight in the female body also re- 
sulted in such now classic marvels as “Vi- 
olon d’Lngres" in which the resemblance 
between the model’s body and a violin is 


more important than the actual execution. 
Man Ray will certainly remain a key 


historical figure and chronicler of the first 
half of this century. Some works will con- 
tinue to hold their own. Others ha ve lost their 
sparkle. Others still will remain only his- 
torically relevant But the show as a whole 
reminds one that Man Ray's wit was an 
active leaven in a tumultuous period of art 
"Man Ray,” Muses d'Art Moderns et 
Contempordin, Nice, to June 9. 


ART EXHIBITIONS 


MAY 9-12,1997 

Festival HaJJ, Navy Pier, Oricag^; 


-.‘‘•IV -. V* 






• f v- '• . - 


The Fifth Annual 
Exposition of 
International Galleries 
Featuring Modern and 
Contemporary Art 


Vernissage *97 

Opening Night Benefit for the Museum of Contempcirafy Art 
Thursday. /Way 8, 1997 ; v 


Information 

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A Gaze From Ancient Egypt 

Mummy Portraits Go Straight to the Essential 


Imcrnanonal Herald Tribune 

L ondon — Some 

may wonder one day 
how a major an such 
as Egyptian portrait 
painting under the Romans 
could have failed to be rec- 
ognized as such for so long. 
Anyone walking through one 
of die year’s more remarkable 
shows. “Ancient Faces: 
Mummy Portraits from Ro- 
man Egypt” (until July 20 at 
the British Museum), will 
guess one of the reasons. The 
portraits, which started com- 
ing to light in the course of 
amateurish excavations of the 
early to mid- 19th century, 
largely in the delta area 
known as the Fay-urn, are of- 
ten damaged, and that makes 
looking more difficult. 

The portraits were attached 
to the wrapped mummified 
bodies abruptly exposed to at- 
mospheric agents, and some 


SOUREN MELiKIAN 


•« •? • • 


times none too kindly 
handled, so it is extraordinary 
that so many should have sur- 
vived. ‘Until now, they have 
been treated as archaeologic- 
al material — an excuse for 
doctoral dissertations on the 
minutiae of costume or re- 
ligious history, barely as art 

Even in the show, wonder- 
ful in content and grossly pe- 
destrian in its display, the 
greatest and the weakest are 
not separated. Perhaps in the 
distant future an archaeolo- 
gist will one day hang side by 
side a fragmentary Leonardo 
and a kitsch painting by the 
19th-century French painter 
Bouguereau and draw intel- 
ligent conclusions on the 
mores of Europeans in a by- 
gone age. 

Yet. even such a bland dis- 
play in which chronology' 
serves as the guideline fails to 
dampen the power and the 
poignant immediacy of some 
of these portraits painted in 
encaustic on small wooden 
panels between the middle of 
the first century and the early 
third century. 

The National Gallery, 
which owned a few gems un- 
til 1994. should have thought 
twice before handing over to 
the British Museum the ad- 
mirable portrait of a woman 
painted around A.D. 55-70. It 
came out of Flinders Petrie's 
digging at Hawara in 1911. 
The wistful aloofness 
tempered by the faintest sug- 
gestion of contentment as if 
inspired by happy recollec- 
tions that cannot be shared 
makes it a timeless master- 



Portrait of a woman, painted around AD. 55-70. 


duced. Even the costume does 
not immediately give away 
the time frame. She wears a 
single strand of gold beads 
from which a small crescent 
pendant hangs over a discreet 
dticotiete in wide V-shaped 
form. The wine-colored tunic 
is barely seen, and the coif- 
fure could be that of many 
periods. The face that fills foe 
picture transfixes the viewer. 


A nother portrait 
from the Petrie 
finds given to the 
British Museum by 
foe National Gallery suggests 
that the hypnotic quality of 
the Egyptian Fayum stare did 
not weaken as time went by. 
Specialists put this one 
around A.D. 140-160. They 
disagree about foe nature of 
the portrait — some see it as a 
Likeness of the deceased as foe 
god Sarapis, others as a 
novice of the cult who died 
before being ordained. Who 
cares? What hits the viewer is 
that sense of despair tempered 
by resignation when confron- 
ted with the inevitable — the 
sitter's death. A slight squint, 
far from lightening up the 


piece as great as anything the 
Italian Renaissance ever pro- 


ART EXHIBITIONS 


FRANCIS 

BR1EST 


Fim ’ Art Auctioneer 


_>•>, net i.vii’ 7A'.0.< j y ■ 7,7 . !.i (i 


Henriette and Andre GOMES Collection 

Tuesday June 17, 9 p.m - Wednesday June 18, If a.m 

Paris Drouot Montaigne - 15 avenue Montaigne, 7500B Paris 


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mood, deepens the feeling of 
restrained tragedy. 

Other likenesses, on the 
contrary, burst with an intens- 
ity of life that is surreal. The 
portrait of a woman, probably 
executed between AT). 190 
and 220, shows a long oval 
face with huge eyes quiz- 
zically laughing as she 
looked the artist straight in 
the eye. With her hair 
gathered in two halves parted 
m foe middle and her arched 
eyebrows impeccably trim- 
med, sbe must have had a 
striking appearance, en- 
hanced by patrician elegance. 
Her golden earrings are de- 
signed in the form of a small 
hoop with a large pearl at- 
tached to it and a tiny gold 
button under foe pearL A 
necklace of cylindrical em- 
eralds separated by small 
gold beads and a second 
necklace in foe form of a 
plaited band hang around a 
slender neck, of which she 
seems proudly conscious. 
The mauvish drape folded 
around her shoulder in a stud- 
ied negligee effect is subtly 
emphasized by the top of her 
white muslin tunic. A strong- 


ly incfividualized elegance 
would appear indeed to have 
been cultivated at that time by 
Egyptian society women. 

A very different personal- 
ity can be read into the sen- 
sitive features of a young 
woman whose portrait was 
among the first to come to 
light at ar-Rubay at in foe 19th 
century. Her dark eyes stare 
intensely at foe viewer as if 
desperate for an answer to 
some haunting question, 
while sbe forces herself to 
bring a shadow of a smile to 
her Dps, as urbanity requires. 
A white drape is gracefully 
thrown over a purple-blue tu- 
nic hemmed with gold-thread 
bands. She wears a costly 
parure. The rectangular em- 
eralds set in gold of the ear- 
rings, which each retain a 
single pearl, recur in the neck- 
lace, one on each side. A dia- 
dem of gold laurels, as tight as 
tracery, is poised on the small 
waved coiffure. It fits foe 
dainty features. 

Here and there the portraits 
survive with foe mummified 
body concealed under linen 
wrappings, to which they 
were attached. The face of a 
woman peers at the viewer 
from foe top of her encase- 
ment like some apparition in a 
window. Her coarse face with 
anxiously knitted eyebrows 
speaks of a life of hardship. 
The nose, twisted out of 
shape, appears to have been 
broken. Yet her exquisite 
jewelry, at variance with the 
plebeian appearance, points 
to great wealth, making one 
wonder what story lies behind 
this portrait of poignant sad- 
ness worthy of M untie. 

Even more surprising than 
this anticipation of foe moods 
in which later European mas- 
ters were to paint is foe range 
of styles apparently cultivated 
within the same lapse of time. 
A stunning portrait of a man, 
flanked by two panels rep- 
resenting Sarapis and Isis is 
on loan from foe J. Paul Getty 
Museum in Malibu, Califor- 
nia. The side panels, naive 
and gauche, are not just from 
a different hand, but clearly 
from a different school. The 
portrait of the man looks tike 
a primitive of Fayum painting 
in its stylization. 

How did this extraordinary 
art come about? Ever since its 
discovery, it has been char- 
acterized as a province of Ro- 
man art If so, one wonders 
why not one figural image 
from Pompeii ox any funerary 
cache from foe Hellenistic 
world gets anywhere near the 
burning intensity of these 



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about AH. 80-110. 


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ity, in contrast to Roman por- 
traiture, they go straight to 
essentials. Ax nines, the mod- 
ernity in feeling confounds 
foe viewer. The face of a 
beardless man from foe Petrie 
Museum with thin lips, bit- 
terly pressed, or that of a 
“Young Person’’ from the 
Manchester Museum, with 
dilated black pupils as if ter- 
rified at some dreadful sight, 
could be .those of 20th-cen- 
tury characters. 


‘r-twrflrt. > 

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)bes into the human soul 


/oid of anecdotal trivial- 


Record Set for Islamic Art 


L 


International Herald Tribune 


ONDON — A 10th-century bronze- 
deer fetched £3.63 million (S5.9 mfl- 


I .lion) at Oiristie’s on Friday, the 
■ * highest price ever attained by an ob- 
jet d’art from foe Islamic world. 

The heavily cast animal with a textile pat- 
tern engraved on the back, measuring 17 j 
inches (44.5 centimeters) from ear to hoof, 
once served as a fountainhead spitting out foe 
water from its mouth. 

Closely related to another bronze stag re- 
covered from excavations conducted at Mad- 
inat Az-Zahra’, the capital of foe Umayyad 
caliphs of Spain near Cordoba, it was prob- 
ably executed in the same workshop. The 
piece was described as “foe property of a 
noble European family by descent. “ It is 


believed to have been consigned from Aus- 
tria. Its late Biedermeier-period stand sug- 
gests that foe stag was acquired in foe last 
century. 

The chances of coming across another 
piece of dial type, size and period are remote, 
and foe price was foe result of a bitter fight for 
foe “unique." At first, it involved two top- 
notch London dealers, Oliver Ho are and 
Daniel Katz. Ir was then left to foe anonymity 
of telephones. 

The mystery buyer who won the piece, 
merely identified by his paddle number, 916, 
bought with an unbridled enthusiasm that 
knew no financial boundary and sometimes 
suggested a novice in the field. 


SOUREN MELIKIAN 




1 ART EXHIBITIONS 



the Van Dongen nobody knows 


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S HOULD these works 
really be credited to 
die colonial power 
called Rome? Or is it 
not simply that we have the 
wrong perspective on An- 
cient Egypt? 

Egyptian art was certainly 
never confined to a succession 
of hieratic images as is so often 
implied. Already, early Egyp- 
tian sculpture of the fourth and 
fifth dynasties betrays a 
powerful aptitude at highly in- 
dividualized representation. 
Later, the art of the age of 
Nefertiti produced some of the 
most profound psychological 
studies in three-dimensional 
form devised by mankmdL 
Looked at from this angle, foe 
Romancomponent in the great 
mummy portraits may not goj? 
much further than a hairdo or 
foe cut of a drape. 


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AOL Users 
In Britain 
War ned of 
Surveillance 


By Christopher Johnston 

Special to the Herald Tribune 

LONDON — Subscribers logging 
onto AOL L td, in Britain this week were 
greeted with news that the Internet- ser- 
vice provider was imposing a tough new 
contract giving it wide latitude to dis- 
close subscribers' private E-mail and 
on-line activities to law enforcement 
and security agencies. 

The new contract also requires users 
to comply with both British and U.S. 
export laws governing encryption. AOL 
Ltd. is a subsidiary of AQL Europe, 
jvhich is a joint venture between Amer- 
ica Online Inc. of the United States and 
Germany’s Bertelsmann GmbH. 

The contract notes in part that AOL 
-“reserves the right to monitor or dis- 
close the contents of private commu- 
nication over AOL and your Hum to the 
extent permitted or required by law.” 

“It's bad news,” said Marc Rolen- 
berg, director of the Electronic Privacy 
Information Center, a Washington- 
based civil liberties . organization. “I 
think AOL is putting up a red flag that 
their commitment to privacy is on the 
decline. It puts their users on notice that ‘ 
to the extent permitted by law, they can 
do anything they want. ’ ’ . 

'Hie contract also prohibits sub- 
scribers from posting or' tr ansmitting 
any content that is ‘ ‘unlawful, harmf ul, 
threatening, abusive, harassing, de- 
famatory. vulgar, obscene, seditious, 
blasphemous, hateful, racially, ethnic- 
ally or otherwise objectionable.*' 

AOL and its competitors called the 
move part of a trend to protect on-line 
service providers from suits by users in 
case they are required id disclose sub- 
scribers" activities to law enforcement 
agencies. 

The contract also beefed up the legal 
wonting relating to sensitive content 
such as pornography, and prohibiting 
the maintenance of links to obscene 
Web sites. 

The updated contract is also the first 
to inform subscribers that they are re- 
quired to comply with both British and 
U.S. export laws governing encryption, 
or coding, a hot topic of debate recently 
-between software publishers and seeu-^. 
riiy agencies. 

. AOL Europe wiH provide similar 
contracts, which vary according to local 
law in each of the seven European coun- 
tries in which die network operates. 

AOL executives denied any govern- 
ment pressure in updating the contract. 



Transrapid is still on track, led by Deutsche Bahn and its chairman, Heinz Du err, corporate backers say. 

Bad Turn for German Fast Train 

3 Domestic Firms Exit Consortium for High-Tech Transrapid 


CarpOed by Our Sk&Fnxn £ h ymcbg» 

FRANKFURT — The Transrapid 
high-speed railway is seeking foreign 
construction partners after the exit of 
three of the original German builders. 

The 297-kilometer (178 -mile) rail 
link between Hamburg and Berlin was 
dealt a Mow after Hochtief AG, Phil- 
ipp HoLzmann AG and Bilfinger & 
Berger AG said they were leaving the 
investor group led by Thyssen AG. 

Transport Minister Matthias Wiss- 
maim, who heads government in- 
volvement in the nearly 10 billion 
Deutsche mark ($5.82 billion) ven- 
ture, said Friday that Transrapid could 
be built at the right price only with a 
fully open, international tender. 

“For this kind of project, without a 
real tender and real bidding you do not 
get the competition and the cost re- 
duction you need,” he said in Bonn. 

The train, which will be propelled 
and elevated by magnetic forces, is to 
travel between theTiwo.dties in less 
than an hour by 2005, at speeds of up to 
450 kilometers an hour. The trip truces 
three hours by train now. 

Proponents say Transrapid, as a 
prestige technology project, bolds ex- 
port potential for Goman industry. 


Mr. Wissmann said the estimated 
cost had risen by a tend] since 1993. 
partly because seven kilometeis of track 
had been added to the original plans. 

The government is to provide 6.1 
billion DM, he said, with the rest com- 
ingfrom industry. 

Thyssen, Siemens AG and the 
Deutsche Bahn railways operating 
company said they would proceed 
with the project, under Deutsche 
Bahn's leadership. 

Siemens said the companies were 
talking with GEC Alsthom NV about 
joining the investor pool. That group 
includes Adtranz. the rail joint venture 
of Daimler-Benz AG and the Swedish- 
Swiss conglomerate ABB Asea 
Brown Boveri Ltd. 

Confirming Adtranz's participa- 
tion. a Daimler-Benz board member, 
Eckhard Cordes, said. “By participat- 
ing in this project, we mil have die 
chance to maintain and expand our 
leading role in the rail industry." 

Hochtief, Philipp Holzmann and 
Bilfinger & Berger, while not com- 
menting on whether they had plans to 
enter the open tender process, made 
clear that their participation had 
foundered on issues of cost 


“Transrapid is very much a prestige 
object," said Karin Brinkmann, an 
analyst at Bayerische Hypotheken- & 
Wechsel-Bank AG, “and as such, 
factors often come into play that are 
not purely commercial.*' 

She said that she would not be en- 
thusiastic if any of the German compa- 
nies re-entered the bidding separately. 

At tbe same time that it increased its 
estimate of the project’s costs, the gov- 
ernment lowered its revenue estimate 
for the route. Annual sales are ex- 
pected to be between 709 million DM 
and 964 million DM, the Transport 
Ministry said, against the 1.15 billion 
DM estimated in 1993. 

But Mr. Wissmann predicted that 
the rail line would be profitable in its 
“first years” of operation. 

“Obviously it’s not good to see 
consortium members step out at this 
stage," said Glen Liddy, an analyst at 
Dresdner KJeinwort Benson. “But the 
impact on Thyssen’s profitability in 
the foreseeable future is nil." 

But opposition parties said Friday 
that the reorganization of the project 
and the new cost and revenue pro- 
jections made clear die rail link was 
not viable. (Reuters, Bloomberg. API 


Japan Shuts Down 
An Insolvent Insurer 

But Tokyo Says Case Is Isolated 


By Sandra Sugawara 

Washington Post Service 


% 


Fed Up With the Feds Chorus of Critics Speaks Up 


By JohnM. Berry 

Washington Post Service 


WASHINGTON — The U.S. econo- 
my is humming along — strong growth, 
low unemployment, rising wages, low 
inflation, high profits and a bullish stock 
market — but there is sharp disagree- 
ment over how to keep it that way. 

A month ago a unanimous group of 
Federal Reserve Board policymakers de- 
cided to raise short-term interest raies, for 
the first time in more than two years, to 
keep tbe economy from ov erheating ami 
sparking a new round of price increases. 

The move — and tbe likelihood of 
more increases to come — hastriggereda 
- wave of criticism from liberal Democrats 
in Congress, labor organizations, bousing 
and community development advocacy 
groups, the National Association of Man- 
ufacturers and tbe U.S. Chamber of Com- 
merce. In the absence of any concrete 
sign of rising inflation, these groups ar- 
gue, the Fed acted cm an imaginary threat, 
needlessly sacrificing jobs and profits. 

“There is this notion Fed Chairman 
Alan Greenspan has got," Represen- 
tative Barney Frank said, “that inflation 
is a nuclear holocaust, a chain reaction, 
that once you get a tiny bit of inflation it 


is totally out of control. That just isn't 
true. They are cutting off growth before 
inflatio n shows up,” the Massachusetts 
Democrat said, adding, “and they ig- 
nore the social consequences." 

“Now is not tbe time to further raise 
interest rates and put economic growth 
and opportunity at risk," the House 
minority leader, Dick Gephardt of Mis- 
souri, and Senator Tom Haririn, Demo- 
crat of Iowa, said in a letter to Mr. 
Greenspan that they released Friday. 

But a governor of the Federal Re- 
serve, Laurence Meyer, said tbe threat 
of rising inflation was real. 

“The economy appears to be grow- 
ing at an unsustainable above -trend 
rate,” Mr. Meyer told the Forecasters 
Club of New York on Thursday. "A 
tightening of monetary policy was mo- 
tivated, from my perspective, not by the 
prevailing data on employment rates, 
wage change and inflation, but, rather, 
by a forecast of where I expected util- 
ization rates and inflation to be six 
months and a year from now, if mon- 


Such arguments fall on oear ears 
among the Fed's critics, some of whom 
note that Mr. Greenspan himself has 
acknowledged that he had not foreseen 


that the nation could achieve today's 
combination of low inflation and low 
joblessness. To the critics, such an ad- 
mission means the Federal Reserve 
Board and its chairman cannot be sure 
bow low unemployment can go before it 
triggers rising inflation, so any preemp- 
tive raising of interest rates to slow the 
economy is unwarranted. 

Most of the Democratic members of 
the House Banking Committee are ur- 
ging its chairman, Jim Leach, to call an 
immediate bearing on Fed policy, al- 
though so far the Iowa Republican has 
declined to do so. 

In addition, members of advocacy 
groups picketed Mr. Greenspan's 
Washington home and the Fed’s 
headquarters last week. 

Members of the Fed’s board are ap- 
pointed to 14-year terms to help insulate 
them from the sort of political pressure 
being brought to bear by critics. On the 
other hand, Mr. Greenspan and his col- 
leagues have said repeatedly that in a 
democratic society the central bank must 
be responsive to the public's needs. 

In ms speech, Mr. Meyer said the Fed 
wanted to make sure that the six-year 
economic expansion would not be 
choked by problems with inflation. 


Mr. Meyer estimated that given ex- 
pected labor force growth and pro- 
ductivity increases, the economy could 
grow between 2 percent and 2.5 percent 
a year without affecting the unemploy- 
ment rate. Inflation, he said, tends to 
accelerate when unemployment falls 
below about 5 5 percent 

Tb us, with the jobless rate down to 
5 .2 percent in a robust economy, he said, 
there are two inflation risks: that un- 
employment is already so low that in- 
flation “will gradually increase over 
time" and chat growth wilt remain so 
strong that unemployment will fall fur- 
ther, “compounding the risk of higher 
inflation.” 

The Fed, Mr. Meyer argued, must 
therefore be “leaning against the 
wind.” 


TOKYO — Tbe government shut 
down an insolvent Japanese insurance 
company Friday for the first time since 
World War II. ordering Nissan Mutual 
Life Insurance Co. to halt its opera- 
tions. 

Finance Minister Hiroshi Miisuzuka 
said the liquidation was an isolated case 
stemming from bad investments. 

“The order of suspension is to ensure 
the credibility of the industry and to 
dispel policy-holder concerns." Mr. 
Mitsuzuka said. 

Asked about the possibility of similar 
cases, Mr. Mitsuzuka said, “We expect 
this case to be the fust and last in the 
insurance industry." 

Jesper Koll, an analyst with JJ*. Mor- 
gan, said the decision to close down, 
rather than rescue, Nissan Mutual in- 
dicates that authorities are gaining con- 
fidence in the ability of the economy 
and the financial markets to handle such 
a blow. 

It 4 ‘shows how serious they are about 
restructuring and reforming" the finan- 
cial system, he said. 

“I'm surprised by the speed with 
which things are happening," he added. 
“It used to be every six months we 
would get evidence of financial con- 
solidation. Now it's happening every 
month.*' 

Hiroshi Yoneraoto. president of the 
mid-sized Tokyo-based life insurance 
company, said that for the financial year 
ended March 31, Nissan Mutual posted 
a loss of $417 million. He added that if 
Nissan Mutual had to cover all its li- 
abilities today, it would be short $1.5 
billion. 

Nissan Mutual officials said that dur- 
ing an inspection of the company in 
September 1995, the Finance Ministry 
learned that Nissan Mutual did not have 
enough assets to cover all its liabilities. 
But at the rime, the ministry felt that the 
company could be saved, according to a 
ministry official, Makoto Fukuda. So 
Nissan Mutual received "administra- 
tive guidance," or advice behind closed 
doors, to improve its balance sheet. 

Other problems revealed Friday by 
Nissan Mutual were hidden "off bal- 
ance sheet," which means they were not 
previously publicly reported. Such ac- 
counting practices are legal in Japan. 
The problems included $108 million in 
bad loans, foreign and privately traded 
securities that had plunged $7 1 2 million 
since they were purchased, and real 
estate holdings that had fallen in value 
by $234 million. 

Like many life insurance companies 
in Japan, Nissan Mutual grew rapidly 
during the 1980s by offering high-yield 
policies thai were gobbled up by in- 
dividuals. The companies took the cash 
from those sales, investing it in stocks 
and bonds and making loans to real 
estaie investors. During the years of 
rapid growth, the value of those in- 
vestments skyrocketed. 

But with the bursting of the economic 
bubble, plunging interest rates and fluc- 
tuating currencies of the 1990s, the in- 
vestment yields began to lag behind the 
yields companies had to pay on their 
policies. For example, Nissan Mutual 
reported Friday that it received an av- 
erage yield of 3.1 percent on its in- 
vestments. compared to the average 4.7 
percent dividend it had to pay on its 
policies. 

The Finance Ministry has asked the 
Life Insurance Association of Japan to 
develop a plan for handling Nissan Mu- 
tual policyholders. In the meantime, 
Nissan Mutual has been banned from 
selling policies or processing cancel- 
lation requests. 

About 70 percent of Nissan Mutual’s 


group policies were held by Hitachi Ltd. 
and Nissan Motor Co. A Life Insurance 
Association official said the group would 
ask the two companies for support. 

■ U.S. Tie-Up for Nippon Credit 

Bankers Trust Co. of the United 
States said Friday that its link with Nip- 
pon Credit Bank would help expand its 
security business but stressed that it had 
no plans to become a major shareholder 
in the debt-ridden Japanese bank. The 
Associated Press reported from Tokyo. 

A team from the two companies met 
Friday to develop several projects that 
will convert real estate and other assets 
into securities of about 50 billion yen to 
100 billion yen each, both sides said. 

Much has been said in the Japanese 
media of the rare tie-up between a local 
bank and a foreign one, which was 
initially announced April 10 and was 
finalized Friday. 

Nippon Credit's bad debts total about 
460 billion yen. 


Mitsubishi 
To Write Off 
Automaker’s 
U.S. Losses 


Bloomberg News 

TOKYO — Mitsubishi Motors 
Corp. said Friday that it would 
write off 43.1 billion yen ($341.5 
million) in losses from its Amer- 
ican sales subsidiary, the latest 
blow to the company's troubled 
U.S. operations. 

The yen's resurgence against the 
dollar cut into U.S. sales. Mit- 
subishi said, forcing the automaker 
to become overly dependent on the 
less profitable leasing business. 
The company said it also had 
suffered from lower used-car prices 
when it sold vehicles whose leases 
had expired. 

U.S. sales fell 5.5 percent, to 
187.126 vehicles, in 1996, after 
having fallen 14 percent in 1995. 

“It is a ridiculously large sum of 
money," said Matthew Ruddlck. an 
auto analyst at HSCB James Capel 
Japan Ltd. “They must have been 
well aware of it: not to have dis- 
closed it to investors is worrying.’ ’ 

Mitsubishi shares in Tokyo fin- 
ished Friday down 4 yen, at 910. 

The write-off will significantly 
affect earnings. Managing Director 
Minoru Wada said, but he declined 
to provide specific profit figures. 
Mitsubishi will release in May its 
earnings for the year ended March. 

Mitsubishi, a lare entry among 
Japanese automakers in the U.S. 
market, lacks American marketing 
muscle, said Kaoni Kurata. auto ana- 
lyst at Goldman Sachs (Japan) Ltd. 

The U.S. Equal Opportunity 
Commission ruled last week that 
289 women were victims of sexual 
harassment at the Normal, Illinois, 
plant of Mitsubishi Motor Man- 
ufacturing of America Inc. The 
commission filed a lawsuit against 
tbe American subsidiary last year. 

The parent company had to put 
32.6 billion yen into the manufac- 
turing unit in Its previous year ro 
write off accumulated losses and 
inject capital. Mr. Ruddick said. 


CURRENCY & INTEREST RATES 


Cross Rates 

1 1 dlm. 

Amsterdam 1*235 IMS US 

Biussch 26 40 575175 

Frankfort UW IMS 

London (al UOl — 

Madrid MUM 2J4M 

HUM 

Now York CM — lfiSS® UMI 
Parts 5JHJ 9M5 

TOKYO BM) 

Taranto 2240 

Zurich 1*05 2J«B WS15 

1 ECU 1 MS Dm 1 


April 25 Ufaid-Libor Rates 


Ff. 

ntw 

ill 

6290 


UR DJI 

uur — 
ira* me 

61*5]- MOT 


B.F. if. 
MB* UtW 
— MZSS 
U4M* L174Z 


Ym CS 
ISOS' UK 
020 2M1 

uar um 


uss' 

ate* 

Liar 


2jv74 9ms uun lun sum uo sues urn zs*i 

Boa U277 0*5* 3W79 -4GD4 WUT 11530' UU454 — 

□card 

SMB 17»» IM SO UB HUB UW 14US5 
u» _ map* me aw mb uur 4i» use 

nj 7LS U4 UBS SLO — - 90JS MW 

pain B23M UW2* iTM* MOT* UW. !,■£* — 

avm UBS** 03SU 41253* — LIS** 1JSU UHB* 
19545 uon LMU6 23009 *03333 14*4* MUSS I -32 UMDS 

, enn UtnufflSSfSE M mm™ UHiM« 

Lfrws « amwntom London. Man. Parts and Z**h,ndngs to aBmroea^ 


-D-Marit Franc 
1-mantti SV»-S¥» 1M-1* 

S-montti 5^- V» 3-30 
frawntn SVit-6 3-M 

61*-69ta 3M-3M) 1*k-2Vu 


6*fa-6* 
6** ■ 7 


April 25 

Franck 

Franc Yin ECU 
3»- 3W 4-tVt 

3W W-Va 4V».*Vo 
3H-3W I*-* *ta-*V» 

3*4 - 3 Y* Yta-fc *¥» - *¥» 


Sources: Rentes Lbyds Bank. 

fto*w avpBcabkt to Interbank tepastts of St mSSon minimum torequhratenO. 


Other Dollar Values 


Currency 

OJWftS 

Aosfraflons 3-2845 
Austrian sek- 124W2 
Brazil rant 1-0*25 
aiMstrum 
czkbkbrm awB 
QaalsfchreM 6339 
Ettpt.paan* 3393 
FEVncrkfcB 5.15*1 


Currency 
Greek drae. 

Haag KangS 
Hung, forint 
fotSaarapea 
lMto.n*ptofc 
bttnc 
IvoeSrtt*- 
KuwAwr 
Malay, ring. 


PerS 

273.06 

7J47 

1B1JK 

35.765 

2*3130 

04454 

fljom 

2J50W 


Currency ' 

Men. pas* 
N.ZMftndS 
Horae krone 
FUR. peso 
Potlsfc doty 
PorL escudo 
Raw raw* 
Saoti US* 
smg-s 


Per* 

7365 

1-440? 

70515 

2436 

3.15 

172.13 

574530 

3 JS 

1,4*35 


S. Atr.raod 

5. Kar-wai 

Swea.krana 

TMaS 

Tbninaftt 

TWkMBn 


Per* 
44*35 
692*0 
7711 
37-63 
wan 
1 33540. 


UAEdkfm- 16705 
Vann. bolt. 47930 


Forward Rates 


ClRlCDLf 

Pmad Sterling 
CantKSan dollar 
Deatuhenrarii 


13329 

1.3896 

17118 


13219 

0866 

17079 


*Woy 

1321! 

08*2 

1.7042 


Japura***** 
Swiss franc 


SHO* 

12UB 

1*544 


12448 

1.4513 


12190 

1*454 


Key Uoney Rates 

United States Ctaso 

Discount rate 5LOO 

Print rata an 

Federal foods Sf* 

96-doy CDs dealers • 5175 

iMdnyCPdaelav 539 

3 B»irih Treasury MB 5J7 

1 -yea- Treasury Ml 573 

a^nar Treasury UB 632 

Syear Treasury oMe 633 

7-year Treasury oaf* 637 

Ifryacr Treasury note 673 

39-yacr Treasury band . 7.13 

MariD Lynch Sfrday RA *js 

Japan 

Olicnnaf rati qjq 

CM many- 0*4 

iHranriitataraank 037 

3-oot» tatatB on k ■ * 038 

frMMttiBtottMk 034 

10-year Go«t bond 132 

Germany 

Unsworn** <30 

Ml money 3 J» 

1-mefb Merbenk 023 

l*nart»WaraaM 




6-aoath Mora 
10 y u u r Bund 


125 

028 

too 


5.00 

V* 

5Y» 

573 

068 

5.18 

537 

631 

632 
636 
4.92 
7.12 
4.95 

050 

044 

037 

038 
043 
006 


450 

108 

029 

125 

128 

582 


Britain 

Bonk base rate 
COB many 
l-manth Mertmak 
3-nmrtb Interbank 
6-martb Mertnnk 
UHnarOBf . 


400 
600 
6Vn 
(h 
6V» 
7 JO 


400 

Ot» 

6Vn 

M 

6W 

737 


intervention rate 3.10 3.10 

CM money 3*» 

l-montti Interbank 3VU 3VU 

3*mofl] interbank 3Fu 

6-aoWtl toteftmk 39U 314 

70-year OAT 502 579 

Sornxn Reuters, Biaembm Menta 
Lynch. Bank al Tokro-Mllavblthl, 
CwnmaMn*. OedV LroanoH. 


Gold 


Zurich 


aja. pja. erg* 


34050 34200 +100 
341.35 3*225 +U5 

New Yak 3*250 34 X 90 -170 

US. doibrs par ounce. London ofUcktl 
OmgsrZuriatantiNewnrki 
arid Cfratog prices; Alew VM 
(June.} 

Sterner feMto. 


lb our readers 
mBelgjmn 

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PAGE 10 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 26-27, 1997 


THE AMERICAS 



’s America 


; 7 v a/ ' v v 


30-Year T-Bond Yield 


655 

6.65 


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Dollar in Deutsche marks B Dollar frr Yen 


1.70 - 


150 



N D J F M A 
1996 T907 







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=.."B&psob.' 



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7ZT7Z ■ . iSUHfi :- '''HfJ&e, 

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rr Nasdaq 


. ; Ma^wt-Vaiuo. ..V. 

Stt83.;> mas.; \rp£t 

Toronto 


. saapao > -.§pei?8- rytim) 



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" iPSa General 

'S3&JB? .*ses^&: 

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■■ -£ap&d General,- 

.eaiaaB; 7 -" 

Source: Bloomberg. Heritors 


Very briefly; 


SEC Says Trader Faked Diary 


The Associated Press 

NEW YORK — The former 
Kidder Peabody & Co. bond trader 
accused of scheming to falsify 
profits and earn millions in bo- 
nuses faked entries in a diary cru- 
cial to his defense, the Securities 
and Exchange Commission 
charged. 

The SEC made the allegations 
in final documents filed as part of 

its administrative case seeking to 

punish Joseph Jen for the scandal 
that hastened Kidder’s demise. 

The SEC asked Administrative 
Law Judge Carol Fox Foelak to 
ignore Mr. Jen’s diary — which 
differed from a version the gov- 
ernment obtained from Kidder _ — 
in deciding on the civil securities 
fraud charges. 

The twist in the protracted case 
could hurt Mr. Jett because the 
diary was used to corroborate de- 
fense contentions that his super- 
iors knew about his trading 
strategy that created almost S3SO 


million in phony profits and 
masked hefty losses. 

Kenneth Warner, a lawyer for 
Mr. Jett, said the SEC's assertions 
were “completely false and des- 
perate." The SEC filings Wed- 
nesday were supposed to be the 
Iasi before a deasion, but Mr. 
Warner said he would ask the court 
to allow the defense to rebut the 
allegations. 

“The diary is powerful evi- 
dence of Mr. Jett’s innocence," he 
said. “In the face of that, the SEC 
wants to find a way to have die 
judge disregard it. The evidence 
shows die diary was completely 
reliable and trustworthy.” 

The government's contentions 
could make it even more difficult 
for Mr. Jett since there is a general 
feeling that administrative judges 
tend to favor the SEC, Bruce 
Baird, a partner in die law firm 
Covington & Burling, said. 

“It’s tough to beat the SEC in 
tbat forum even with a good case 


and here his success depends on 
the Judge believing him over the 
SEC" said Mr, Baird, former 
head of the securities and com- 
modities fraud unit of the U.S at- 
torney's office in New York. 

Both the diary that Mr. Jett used 
for his defense and the one the 
government got from a computer 
at Kidder after be was fired in 1994 
were used at the trial. The two are 
computer diaries he allegedly kept 
while at Kidder. 

Mr. Warner said the diary the 
government got from Kidder was 
actually a version of Jett’s master 
copy that he kept for his secretary 
to use in preparing bis daily sched- 
ule. Mr. Jett deleted information 
be wanted to conceal from his sec- 
retary from the Kidder copy, Mr. 
Warner said. 

But the SEC charged that Mr. 
Jett fabricated information in his 
version that was not on the Kidder 
copy to bolster his defense after be 
was fired by the company. 


Westinghouse Posts Wider Loss 

PITTSBURGH (Bloomberg) — Westinghouse Electric 
Corp. said Friday its first-quarter loss widened as its newly 
acquired radio business could not offset the failure of its CBS 
broadcasting unit to attract the types of audiences wanted by 
television advertisers. 

Westinghouse reported a loss of $1 5 1 million, or 23 cents a 
share, wider than a loss from continuing operations of $1 14 
million, or 26 cents a share, a year earlier. Revenue rose 18 
percent to $ 2.22 billion. 

Freeport Said to Give Up on Busang 

JAKARTA (Reuters) — An Indonesian newspaper said 
Friday that the U. 

& Gold 
Indonesia' 

The Harian Ekonomi Neraca newspaper said Freeport was 
planning to withdraw officially before results of an inde- 
pendent audit to determine the gold content in Busang are 
announced. 

Test cores drilled by the Canadian consulting company 
Straibcona Mineral Services Ltd. at Busang over the past few 
weeks are being assayed. Results are expected in early May. 

• Hunt Financial Inc. led an investment group that bought 
Chris tian Salvesen PLC's U.S.-based refrigerated ware- 
housing business for $122.4 million. 

•The Wall Street Journal’s on-line edition surpassed 
100.000 paying customers. Dow Jones & Co.’s decision to 
charge for die service was seen by many as a key test of the 
ability of a publication to make money on the Internet 

• Bankers Trust New York Corp. agreed to acquire $133 

billion in institutional trust assets from NationsBank Corp_ 
which would give die New York bank almost S2 trillion in 
assets under custody. Bloomberg 


Soaring Costs Undercut EDS Profit 



Ctxofxled bj Ow Sajf Fran Dispaxha 

PLANO, Texas — Electronic 
Data Systems Corp-’s shares 
plunged Friday after the data pro- 
cessor said first-quarter profit de- 
clined due to soaring costs and that it 
planned to cut as many as 9,000 
jobs, or 9 percent of its work force, 
to streamline operations. 

EDS was the most active share on 
U.S. markets, falling $9,125, to 
$32,875, in late trading. 

EDS, which was spun off from 
General Motors Corp. last year, said 
dial its profit fell 1 1 percent in the 
first quarter, to $194.1 million. 


EDS’s expenses rose 8.5 percent in 
thequarter. 

The company, which operates 
computer systems for big compa- 
nies and governments, has struggled 
as personal computers and the In- 
ternet’s greater presence have bitten 
into its business. 

“Our goal with this project is to 
address root issues that are holding 
back our performance and transform 
every aspect of our business to make 
this a mare rumble and a more ef- 
fective competitor,’' said Les Aiber- 
thal, president and chief executive. 

“Obviously, I am not pleased 


with our earnings performance in 
the first quarter," Mr. Alberthal 
said. 

The earnings drop came despite a 
7 percent rise in revenue, to $3.59 
billion. 

EDS said it expected to take a 
one-tune charge against earnings to 
pay for its cost-cutting plan, pos- 
sibly as early as the second quarter. 

EDS was founded with a $1,000 
investment by Ross Perot in 1962. 

In October, the company’s shares 
fell 19 percent after the company 
said its growth would slow in die 
fourth quarter. (Bloomberg. AP) 


Stocks Slide as Traders 
Await Economic Data 



CaepUtd tKOrStffFnm Du/m*** 

NEW YORK — Stocks feU Fri- 
day atnid worries that economic data 

to be released next week would re- 
veal inflationar y pressures, justify- 
ing another increase in interest rales 
by die Federal Reserve Board. 

The Dow Jones industrial aver- 
age fell 53 38 points, to 6,738.87. 
Declining issues outnumbered ad- 
vancers by more than a 2 -to-l mar- 
gin. The broader Standard & Poor’s 
500 index dropped 5.81 points, at 
76537. 

The Dow’s weakest issue was 
Philip Morris, which fell 2% to 3916 
following a federal judge’s ruling 
that the Food and Drug Admin- 
istration can regulate tobacco 
RJR Nabisco Holdings 
2 % to 28%. 

treasury bonds were little 
changed as traders awaited the re- 
ports next week on labor costs, eco- 
nomic output and jobs. The daia 
should give an indication of wheth- 
er the economy is growing fast 
enough to spark inflation. 

The price of die benchmark 30- 
year bond slipped 2/32 to 93 23/32, 
pushing its yield up to 7.13 percent 
from 7.12 percent 

Many investors expect die Fed- 
eral Reserve to raise borrowing 
rates next month to cool die econ- 
omy and stifle inflation, which di- 
minishes die value of fixed-income 
securities such as bonds. 

“If you string together a few 
strong reports, investors will as- 
sume we will definitely have a Fed 
hike,” said Barbara Martin, a fund 
manager with Citibank Global As- 
set Management. “Everyone thinks 
interest rates could go up from 
here.” 

Stock in Intel, Cisco Systems and 
DeD all lost considerable ground, 
leading the Nasdaq composite index 


lostSd. jy 2000 

plujigwMH to 53v4 after the com- 

outer company's eararegs appar 
mSy disappointed investors. After 
the market closed Thursday. Gate- 
way posted a 34 percent nse in 
S U to $673 mU&n as.«vwue 
Ke 24 percent, to SI .42 bita. 

Broderbund Software shares, 
meanwhile, dropped 3 to ls% ^ 
the software maker said salesfor its 
financial second half would be teL 
But Qualcomm shares rose l 15/ 
16 to 44 13/16 after the maker of 

U.S. STOCKS 


wireless phones said a federal judge 

had lifted a temporary restraining 
order barring it from making or 
marketing its digital “Q phone. 
Motorola had claimed thm Qual- 
comm infringed on patents that Mo- 
torola holds on its StarTac phone- 

Hertz shares rose 3% to 27% on 
their first day of trading on the 
NYSE. Ford Motor sold a 19 per- 
cent stake in the company worth 
about $480 million. 

Shares in Nynex and Bell At- 
lantic posted strong gains. Late 
Thursday, foe U.S. Justice Depart- 
ment gave Bell antitrust clearance 
to proceed with its $23 billion ac- 
quisition of the Nynex. The Federal 
Co mmuni cations Commission sell 
m us t approve the merger. Nynex 
rose 4 % to 48%; Bell Atlantic stock 
rose 5% 6334. 

Stock in US West Communi- 
cations rose 1% to 3314 after foe 
telephone company said first- 
quarter profit rose 3 percent, to 
$339 mil linn as increased demand 
helped revenue outpace expenses. 
Sales rose to $239 billion from 
$2.47 billion. ( Bloomberg . AP) 


Dollar Gains Amid Caution Over Weekend G-7 Meeting 

unchanged,' 
tobert Rubi 


Ccwpdrrf by OwSBtfFnm Dapatchn 

NEWYORK— The dollar gained 
against most other major cur re ncies 
Friday amid cautious trading ahead 
of the Sunday meeting of finance 
ministers from the Group of Seven 
leading industrialized nations. 

The G-7 ministers and central 
bankers at the meeting, predicted 
Gary Sakamoto of National Aus- 
tralia Bank, will continue “to 
preach for a strong — not stronger 
— dollar. But they’re probably go- 
ing to tack on foe word stable." 


“Our policy is 
Treasury Secretary Robert Rubin 
said Friday. “We’ve had a strong 
dollar for some time now. ” 

“I expect we’ll discuss exchange 
markets, as finance ministers do, but 
I have nothing to add to foe recent 
statements I've made on that sub- 
ject," he said. 

Mr. Rubin has said Washington 
opposes using exchange rates to af- 
fect trade. 

At their last meeting, Feb. 8 , foe 
G-7 ministers and bankers attempted 


to slow foe dollar’s appreciation by 
saying “major misalignments" in 
its value “had been corrected.” But 

FOREIGN EXCHANGE^ 

foe dollar has since gained another 
23 percent against the yen and 3 
percent against foe Deutsche mark. 

The dollar closed at 1.7274 DM 
on Friday, up from 1.7152 DM on 
Thursday. It rose to 126.300 yen 
from 126.100. 

Against other major currencies. 


tire dollar rose to 5.8295 French 
francs from 5.7855 and to 1.4685 
Swiss francs from 1.4608. 

The pound fell to $1.6245 from 
$1.6260. 

Hie dollar's renewed strength has 
caused particular concern in Japan, 
where officials have called the rise 
“excessive.” 

Mr. Rubin said Washington 
“shares concern” with Tokyo over 
foe value of the dollar. 

While the strong dollar has 
helped stimulate Japan's stagnant 


economy by making exports cheap- 
er, Washington has warned that 
could go too far. 

Analysts say Japanese threats to 
intervene against foe dollar are con- 
nected tfl Ui. concerns over foe 
trade surplus. 

‘‘Once the trade surplus with the 
U.S. really starts to rise,” said Ken- 
neth Landon of Deutsche Morgan 
Grenfell in Tokyo, “they can at least 
point to the fact that they’ve tried to 
keep foe dollar-yen from rising 
higher.’ '(Bloomberg, Market News) 


AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


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Indexes 
Daw Jones 


oem him in Cm* Ov- 
Indus 6777 M 47V2JS 4726.03 673887 -S3JB 
Trans 2537^1 25«.19 2509X2 25T2J4 -310 

wr 21 

Caras 212 

Standard & Po«s 

I ft wft ra Ttdnr 

HIM Lnr drat MO 

Industrials 92000 90071 91033 90127 

Tima. 586.92 57433 57433 56092 

UfflUte 103X5 181.17 1B138 18007 

Finance 0015 04.99 85.12 0434 

SP500 77939 769J2 771.18 74SJ7 

SP100 76234 753.10 75424 747 J3 


Most Actives 
NYSE 


April 25, 1997 

High Urn LOW Chgn Opkn 



57.997 

120090 

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40142 48001 40O3B 
5U11 SiS SJ7T1 
■05S2 17UJB2 37B44 
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362.15 36036 36063 


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Trading Activity 


NYSE 


NcvHioto 
m« Law* 

AMEX 

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799 1173 

1683 
840 
3322 
26 
SI 


Nasdaq 


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15 

692 

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Company Par Ant Rec Pay 

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b .0326 4-30 5-7 

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_ .13 4-2* 4-28 
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EmivesCASoc 
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Manage* BaFti 
Premier antbsn 
Sun Enemy Ptnrs 
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Roosevelt Pnd _ 72S 5-15 5-30 

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Managers STuiinc 


M -00 4-24 4-28 


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Alcan Akim 
AmPBTram 
Ain General 
Ashland Cod 
AmtonPvep 
Amy Dennison 
BRE Prao 
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Stack HBs 
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PW* Power 
Hereuteslnc 
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Jut 97 294 294ft ♦» 

Sa>77 206 23116 287ft +* 

Dec97 281 V4 Z77ft 278ft 

M»9B 285V, 283 203 

MOV90 288ft 207 288 ♦! 

XI93 292ft 29Q 290 -Jft 

Ed.S8s HA. TH/s.sd» 106110 
mrtDPBlM 329J94 off 4933 

SOYBEAN MEAL (CBOTI 
100 raw- dedors PV ft, 

Mov97 282JO ZTIOQ S1J0 ♦660 27^6 

.M97 20020 271JS 270JD *7 JO 4JJ34 

Aub 97 27LOO 1UX 269 JS +4J0 13-202 
SBP97 25600 2S400 + 600 1JSS 

0d«7 22680 Z2SJ0 2RL» ♦! JO 7,9» 

Dec 97 22180 21880 21980 + 040 15.770 

Ed. totes HA. T1V 5. softs 27770 
WiawH 111854 ip 3CD 

SOYBEAN Oft- ((JUT) 

VUUbfaoMkPerti 

Mar 77 2SJJ JUT 3497 ♦412 17099 

MV 2145 2SJJ 2145 -0.13 42.160 

AUQ77 2580 25X7 2181 ♦0.13 1QJ20 

5BP97 2180 2153 2172 -0.19 4679 

CW97 2185 2580 2174 ♦L22 US3 

Dac97 2600 2547 2582 +821 17AM 

Erf. SOW* HA. Thu's. SON* 14471 
Thu's open H 191883 all 404 

SOYBEANS (CBOT) 

5JB0 bu mMmum- ram per ouanti 
Mov97 873ft 847ft 867ft ♦20ft 29X24 

JUI97 874 0Oft B67V, ‘19ft 06749 

Aug97 84 6 828 8<7ft M4ft 14.104 

Sep 97 767ft 734ft 764ft ‘9ft 7.277 

Nov 97 701 093 698 *3 42-944 

Erf- soles HA. TTirs-softs SACO 
Thu’S open W 182X78 up 1116 

WHEAT KBOT) 

5000 bu cant* rar burfW 

MOVJ7 « 7 420 423ft ‘7 4.114 

Jul97 435 424 CBft ♦6ft R016 

Set>97 439 427ft 4Bft ‘9 13JK6 

Dec 97 449 431 446ft ♦ift 13X19 

Erf-ades NX Thu’s.sntts 36393 
Thu's own W 0822 up 783 


livestock 

CATTUUCMBO 
A 0 BD **.- cenh ear ft. 

Jw97 4430 6385 6182 -aiO 36850 

Auo97 642S 6387 6487 +887 24.652 

0797 SL5S 0.10 UAI +02 1SJH 

Decs? 702 692 7030 +082 8X34 

FeDSB 7187 7075 70.95 +02 528 

Act* 72.90 7280 2275 +882 884 

Erf.swes 10.908 Thu's. Kies 12854 
Thu'soeaiirf 91.912 Oft 354 

FffiDOl CATTLE (CMBt) 

SQoOQO evtti BV K&. 

Way 97 732 7282 7117 +092 5839 

AM 97 7125 HE 7555 +1130 6899 

SflP 97 JSA5 7480 7535 +115 1 jBS 

OC97 7195 752 7S25 +0.15 2X01 

NOV 97 772 7195 77.15 1,106 

Jon 98 782 7780 7185 +02 307 

ES- sales IBS Thu's, sabs U09 
Dirsopenw 2UB3 UP 208 

HOCS-faeao (CMCRJ 


High Lew Latest Cbge Op tot 

ORANGE JUICE 06C7I0 
1M00 ww- em mt ra 

May 97 79 JO 7530 76.15 +B.» 6732 

Jut 97 B0J5 77X0 77 JS -4L20 13374 

Sap 99 8150 8030 «U0 -020 5-500 

Nw97 8580 SL90 8230 +085 2319 

EdLMes HA TTw's.sata 1101 
TTIU*SsprftM *994 Off 797 


Metale 

GOLD06CMX) 

tea tnr o*j- <SaUarsotr travaz. 

ATT «7 34330 34230 342X0 *130 296 

600797 3CJ0 +130 I 

Juntl 345 SB 342X0 KL90 *130 744 H 
AUB97 347X0 344X0 34451 +130 16324 
Otf» 3®80 349J0 34930 +130 6379 
Dec 97 253.10 351 JO 35200 +J30 7)312 
Fet>98 35480 +1J0 4XP1 

Acrffi 3930 *1X0 3835 

An 91 36030 *1X0 6336 

Erf- sale KK Thu's, sales 13J97 
Thu'S open W 162.273 aft 941 

M GRADE OJPPBUNCMX] 
UXQfaL-artSMrlL 
Apr 97 11430 11100 1I4J0 +075 691 

MOV 97 HIM 17 IjB 1T3L7Q +035 U.10 

M\V 111X0 THUS 111* +185 2815 

AH 97 111* 109X5 11035 +185 161BI 

AUB97 10985 10BJD )W85 +CJO 991 

Sep 57 TB7X0 10640 107X0 +tL» 4850 

Od97 1065B 105X0 TBiiO +080 0(7 

l*w97 tout +OJ 0 KJ 

Dec 97 10430 1*00 10420 t030 6000 

Erf- sales HA Thu'S, sales 11J33 
Tiki's opwint 50-238 aft 199 

SLVBttNOAX) 

5890 troy ra- earn perrarroL 
AorV <71 JO +280 1 

May 97 47X50 46850 47280 +2JD 36012 

Jin 97 474X0 + 2J0 J 

MV <7839 47380 47603 +2JU 418TI 

SWW *380 46X50 481.70 *2J0 4367 

DK97 49080 CUD *9.10 +270 6518 

-*n» 491JD +2JS 77 

Mgr« 49980 49780 49780 +280 6486 

Btsrfes NA TIuTs. sales 28.943 
Thu's open inJ 95ja alt UU 

PLATBMM (NMBU 
ftftVB^Hnpvtwn 

Aprw rajo mx znja +ijo $ 

MV mSD V7M £7J0 tlXO 1X216 

Oav 38180 37690 37690 +1J0 2,909 

a. sales NA. TUrt. scries 1X23 
Thu's open Vit 16961 up 513 


6513 
-002416278 
-403 304762 
—6* 236928 
-6*204752 
-082 TS-574 
-002132832 
-082 99,925 

- 6 * sixth 


LONDON METALS OJftB 
DMonpermetitcian 


Previous 


fSwottJ 1 




.==« „!£W 15g80 156880 
2561ft 2563ft 257X00 257580 


High Lam Latest Cbge OpUt 

10- YEAR FRENCH GOV. BONDS OAAT1F1 
FFSOCJOQ- otsOtlQOpd 
Joa 97 120X0 120.10 12X20—634161190 
Sep 97 12680 12660 12674 — 032 6407 
Dec 97 9630 9630 9623—034 0 

Est voiurac 166X56 . Open ht: 169J97 up 
UN. 

[TAUA N GOV ERNMENT BOND OJPFE) 
m-Zurraon-pw wioopef 
£22? teJS —08710652* 

*e0*7 Itr. H.T. 12415 —607 S0T7 

IURL PKV.M0K 57,963 
Praepantaj 110836 IM 1851 
FUROfM U Alts (CMB7J 
simnon-oftafiaapa. 
ttrxV 9187 431 

Afloy 97 9UI 9U7 9407 -607 3 MBS 

Jun97 9X90 9X97 9X97 -081 484332 

-M97 9187 9187 9X57 

Sep 97 9X60 0X6 93X7 

Dec 97 9140 9X36 9337 

MarN 9334 9121 9332 

JUn90 9112 9109 9XI1 

SbpW 9X03 9199 9181 

Dec 95 9233 92* 9101 

Mar 99 9233 9230 9231 

Jun99 9109 9287 9107 

a-**s NA Thu's. 5C6 bs 45X789 
Thu's 0P«1« XS90764 ip 2D3S2 
MITNHPOUMKCMBO 
0500 prank. S »ra Bound 
Am\V 1X2SB 1X194 1X216 38871 

s® 97 1X796 1X190 1X19* 562 

. _ 1X191 101 

^.s«des N-A. Thu's. sides 6653 
Thu's open M 38,974 oft 1157 

CM6ADIAN DOLLAR CCMSO 
i w . n on i lN Brys per cun, ar 
An ?7 TOT 7179 7153 75710 

S*P 97 3232 J319 7222 6196 

DaeV 3HS 7255 3255 

NA W^Stte 4899 
Thu's open W 03860 oft 314 

GauiANMARKtoAEW 
12S80D nmiu, S par mrafc 
in97 58S 38(0 5011 2X795 

» ■» -gg tw 

Dec 77 ^03 J703 4903 219 

a-srfes NA Thu’s.aies 1X758 
Thu's ocen W 02830 off 441 

JAPANESE YEN (OMBt) 

RMNnas sub- 100 yen 

xS Ss TS 

Dec 97 8230 J230 X230 6M 

HA. Thu’s. K*es 0X39 
TTs/h open (rtf H3839 oft 1401 

S9RS5 FRAME (OUST) 

HMM*ra.,W ' rape 
JU1 77 X0B7 XB37 XM4 

See 77 MS X9T0 X0I3 

Dec 97 J830 


447*5 
XI 14 


a.s*s NA. Yhu^soMs 14172 
71W0C00BW 473S7 Oft 354 


n~~ "3*52 f MQIfTiT TrUIUHQ ELiffD 

337X00 237380 237180 237X00 3SnBVrairf5raS' uwn 


Spot *1980 62080 *2680 
Hnwrd 63080 63180 635ft 


Forward 743X00 mLoo 746080 

Spar 560080 570000 56BS80 
Forward 574080 57+580 573080 
'MM Grade! 


62780 

63680 


735580 

747080 


569380 

573580 


SfW ' J247S 7249ft I2&O0 
Fount* 126080 127180 127780 


tsoaajo- 

Jaa97 9386 

Sgw oat 9383 

DeC77 0284 92J9 

IWB VLB V1B 

Juara 9284 7150 

Sjp« 92.C 9K0 

DecTS 9134 9281 

Atajf 9ZZ7 9134 

Jun99 9283 9119 

SW99 0U9 9116 


ASSOC SoncCais n >,,TI ^ L 39 M 5-15 ... 

ffiS VoSSZ - -11 SX 5-15 


Stock Tables Explained 

Sides llguies « unrtfldoL^ Wgiis rad hras lefcd Hie previous 52 ends sta Ihe aunt 
wertLMnort«iIate 5 rtoiftig day. Whereos^jOor stack <*»VJendomou rang to 25 oerart or more 

oftietvrise neM, ndra offBoMenOS ommbubi dKbunemrab bmed on Die Wes; dedoodon. 
a - d Iv Wend ataa extra to), b - annual rate of Oftderai plus slack dividend, c - Squ mating 
dMderuJ-ec-PE ooeds WcM-atUedfl- nawyeorty tov.dd- ion in ltielastIJmonms. 
■ - dividend dedared or poU to prwwflng 12 rnartfts. I - annual rai* inoeosM on kst 
dedaralton- S' iWdeod In Conodlon fumls, swbjed Jo 15% non-jwldence fas i - dividend 
d-dsred after spm+M V stock iftviaeniL dMdeira paid ttayeor, omWed. detonea or no 
adton taken « tatwt dMdend meeBnB- k - dividend declared or pdd Rib yew. an 
□rcumutartTve Issue with dfrridetids ki anears. m - annuel mfe, reduced an fcsl dectarotSon, 
n - new ftsve ki the past 52 weeks. The ldgh-hw range begins wttn me start of trading. 

mf-rmtday dwwry. p - bifW dividend, annum raw unknowa WE -prtcmiirings ralia 

a -dased-end mutoal lu«Lr- dMdeild dettned orpaM In pracedtag 12 mourns, pin stack 
awfatend. % - stack spa. Dividend begin* wftti daw of spnr. tit- softs, t-avidend paid m 
eftyv In irrmKtfflserflnialedCTshwatoeqrreae^MdeiWOrar-dTsnttullondate. 

u-newveartrW0 ft -' , ' ,nHli ' > 9 r,o * ,e<J,1 ' 1 ' lnl>anltnip,cyw,pcp ' vws,,, ) ,orljB ' n 5 rew 9' ,ni2e<3 
umterJIwBantauptey M, orsecorttoaHuinid^ byweticampanfes. wd -when dfcfflbu**. 
u< . wtnn bxueti BW - eettti warrants. « - ex -dividend or ex-rights. nSs - ex -distribution. 


Am 97 8495 M.17 84X1 -695 

MV7 05.10 1440 640S -8X7 

AW97 085 US 8287 -082 

Oct 77 7460 7580 7SJ7 -617 

DBC07 7110 7XH 7250 -085 

Erf. cede 6101 Thu ’t sides 14060 
Thu's open kit 37,H< up 139 

PORK BELLE KMER) 

40800 ***.- art* OB- B. 

Mar 77 7120 9112 9230 -192 

JU177 9495 0180 9185 -282 

AugV 91TS 4082 4087 -183 

Est. sales 106 7txrt.sdes 5,7*1 
Ttn/sapenirt 733 up 2B& 


Food 

cocoa mesa 

W mrfrfcfaras- s Mr m 
May 97 1401 
JU197 1494 

Soph 1516 
Dec 97 1531 
MartB US 
MCY9B 1570 
ESLBXB 98*7 Thu's, sales LS5 
Thu's GOBI « 9XJES Oft 11 

avpacoicsE) 

27800 oL-amev *>. 

May97 2JUM 71403 71635 -380 
Jut 97 23X53 19259 WX2S -401 
Sen 97 14480 17453 17470 -480 
Dec 97 ftuo is JO 159.10 -205 
640-98 15580 14675 !«75 — L2J 
Erf. soles 1224 Thu's.saies 1X0 
Ttu'sopnbd 30,194 eft 308 

SUGAR-WORLD 17 (NCSEJ 
m,oBBfct-coraowxi 
MOV97 1L56 1187 1)85 ♦!» 

Jut 97 1L15 10.91 11.14 ‘UR 

00 97 10.9* 1079 1091 +009 

Mvn ua 1075 HUB *014 
Etf sdes 19814 Thu'isdes 618U 
IWsawM 170250 aft 3071 


17833 

*800 

17*6 

4734 

38“ 


2714 

1815 

950 


U44 

1465 

*13 


1466 

1409 

-6 

3U96 

M0 

14N 

-7 

IW0J 

1S11 

1511 

-a 

VLSIS 

1S33 

1533 

-12 

19820 

15B 

1553 

-13 

883* 


2 *» 

14354 

1741 

4191 

I 8 « 


JUB 

tsxn 

3889 

20877 


1256X0 
127000 

tflgh Low Oom Ove Optra 

Pfaiandal 

UST. BILLS (C36BU 

si mukra-HsoiiaapeL 

An 97 P4S »Ut 9484 —401 4 SB 

5« 97 9425 9425 9425 -Ml x^2 

Dec 97 94 a ke 

^.sota HA. Thu's.saies IS 
TTaftaoenw iojn up km 

5YR.TREA5WY KBOT7 

tlMUBOnrtn- PH4 44Bq^ IBOpd 

8»l97 184*15 10646 104-1) —03 2348U 

SJP971O3.S0 MM VO-99 -03 XOT 

DR97 180-56 20 

>un 

Thu’s wtn ad 231141 oft a 

It YR. TREASURY (CBOT) 

sSjaMRai raopa 

80197 105-77 tflS-11 105- 14 —83 329,234 

S8P 97 10541 10600 10541 —01 71 X70 

Die 971 04-22 104-22 104-22 —01 I860 

Sd- safes KA. Thu's.saies 80877 
HaAoP^W 3S49M oft 4H 

US 7REAURY BONDS (CBOri 

Biw m o80 rta 43tadsati08pai 
80197 107-12 106-31 ID-S -D 

S4CV JOSJB 106-7? rOi-22 _06 084 

£r 183 -■ g 

grates NA ThAa*, 31LC7 

WlWlrt 500X32 Sft 3381 

J sS£ iSia^zas 


V34 —042113800 
9M* —003 9X018 
9282 —Hill 74742 
raxs-tuo 3L325 
VLSI —am <0353 
97B -OB3 24797 
9233 —003 21817 
9X26 —002 14463 
0X21 —0J12 KL3QJ 
9X17-082 690 


nSoSSS 

IW97 9076 9076 9075 — OBI <133 
JOT? 9074 9174 9075 IlSomm-t 
Jdft 7074 9074 9073 —001 t .m 
*gn 9070 9067 SS-aSiaoiS 
Dwrf7 90S* 9452 9053 — U8 310Z71 
MartS 9041 9036 9038 -SS 164*6 

807U8 9632 96.17 9619 -Offi ijtaw 

S" ««-dS|U4« 

95J1 9073 — (LB3 77J26 
*W? 9SS 960 9648 — OJJ3 64 SU 

j rart? «23 95X1 9XZ1 —am XJOl 

as is? as 

WJON7MPIBOR OUT IFI 

Ef%£‘tE<Z*- US7wa 

uSS 9626 

II I s ™ 

Otc 99 Ml) Mfl MU — 0JU out 


High Lam Latest Chge Optra 

0097 7405 7450 7487 +087 2874 

EE* 7 5S 5* ‘057 Z3J7I 

(HI IS* 5 + o« X9B7 

vtrefi 77X2 7725 77J2 +0J9 777 

^ ratal NA Thu's, sato am 
TlWsapwiW 7X926 Up 147 

HEATMB4ML (NMBO 
44XM aofa rams pwr pal 

5070 5SJ0 B85 -8M 77X54 

JWW 546D S8S M.TO +002 300 

MV 5460 5175 5415 +082 34632 

(475 505 5470 +007 11713 

SepJ7 5555 S0O 5055 +022 7,010 

£197 5*30 K70 5020 +0.12 7834 

S'2 f ^ 45 S* 30 +0JZ 9,165 

‘SK S7-® +007 11016 

aUB +12 0010 

g*-»dH NA. Thu'S. Sdes 25891 
Thu's open W 143,923 tip 1303 

UGHTSWSr CRUDE (MMHt) 

IM bbUtWknner BH. 

SSff *s US JZ M -O®’ 100812 

8*97 2070 1985 2080 +CL01 50876 

*3* »-W 1982 208* taiB VMS 

Sep97 2086 1984 20X0 +081 ?W»5 

CO 97 1987 1980 1987 +087 10342 

ffiK ,yj7 +W» mt 

1M0 1980 +012 37809 

ISu S'® IM* ‘Ml 1 58B4 

R*98 1984 1970 19JJ3 +089 783* 

tU9 19.02 +189 482? 

NA Tiv/mde* 5181* 
WsotwnW 482,102 aft 1031 

NATURAL GAS (NMBtl 

nMflmUu%tMrnri Hu 
Nlft X109 XlM 1725 30534 

MV Lift Z72B 2.150 jf^4 

AU097 2.190 UK 2.160 tt,175 

Ssp 97 Xiao 1130 2.170 1X005 

OctV 1100 1745 2775 Ii5« 

NW97 X3» 1250 1276 7^6 

Dec 77 2J00 2J50 1370 i am 

S 

Feb9B 1360 2J40 1360 6860 

“•WWS y* 1250 48*7 

NA. Thu'S. 5Cfe5 fli,gw 
WsopoiW 101.75* Off 1*660 

WCEAqaCASQUNEftMxao 

4Z8aooH, cents per gal 

MayW 6X15 <185 0285 -089 21J90 

"K»7 S' 15 fl.™ 61X0 —085 4 {%! 

MV 47.10 flg.15 «O80 +083 14821 

S™ 2« S-2 ‘“- 17 fcw 

5W 97 5t70 5BJ0 50JO *085 38S 

5*Jfe 5170 5470 +0J0 2864 

Nav07 S5J0 5170 hjo +085 1830 

DJC97 5580 K50 BJ0 — 0XB XS61 

NA 7Tw'XL KSes 20 gn 
TTWacppilnl 99814 off 020 

GASOIL OPE) 

^^^K r ! n0,,fc1oo - ,o, »«rra o taw 
Way 97 1*780 1&585 16580 +185 21.133 
Jwi97 16780 16580 T6680 +2^ K956 

IS-S I 47 - 25 +1J5 

5£$XL Ig-75 16X50 +180 5866 

17QJ0 +180 1768 
17180 17150 17150 +180 1301 
1 7'+H0 17480 +185 M67 
17585 17475 17475 +185 7840 
JOQPS 77680 17600 17630 +1JS 1802 

, i34 f atsrte ®t«». (^enkit:»407off 

5^3S L ^. 

Mrn ix6i lag 

IfiJO 1883 
Sep97 1877 1682 
0097 1873 1673 

,N-T. N.T. 

1&70 1080 
H.T. N.T. 

BttHBflE 27^00. 

4289 


Aug 97 

Jit 

Oo 07 
Jon98 


tote otl 800 barrels 
1087 — 0.14 64936 
1134 —0.13 44M2 
18X1 -ai2 14948 
J8-50 — 0.13 4090 

1453 -ai4 
1002 -0.1S 5,771 
18-52 -0.10 W55 
1&49 -aiO 7X41 
Open W--16&788 Off 


Stock Indei 
WOMP.WDEXICftER) 

Wk/txWx 

2«5 wus ms 
StaW 78225 77780 7*8 

a. ides NA. Thu's. ^ 
TtWxopenw 191819 » 

^40(fAATin 

2 5355 2533. 

N.T. NT.gg 
®*P 98 N.T, NT. 2534j 


^^Avtdwncl 27,963. Opeibdj 279033 Dp Erf-VOtua^avk^ 

uinimi mm ... . 


Es.9rfes 


igj44 -ausnsai 

1 -an BOTH 

1B&366 


vm. open ait VM 

g£FZ1tW* m{? 


MWWTHRIIROURft aim) 

m-lmBanrsterauBpo 

i a fiii 

l*W. 9X36 9X31 JI32 _g» ^55 
NT- NT. 9025 —010 1 
0X17 9177 0X74 —R12 }2g 


S *=*.... 

ElLHhR pK J^ T -IM • W 




Induatrtata 

rerfONj (Ncno 

:a a 


Commodity tntfpxeg 

M i££ *32 
IM 

240.16 24744 




INTERNATIONAL HERALD TRIBUNE, SATURDAi’-SUNDAY, APRIL 26-27, 1997 


PAGE II 



fcai t u T^a*- 




Wwtk 


Economy 

Is Sur ging 

At 3% Pace 
In Britain 


C*v*t<lhyOvSn#FiumDapa**B 
LONDON — Britain’s econ- 
omy grew at a faster-than-ex- 
P®cted 3 percent annual rate in 
the first quarter of 1997 as out- 
put in business services, fi- 
nance and communications 
picked up, according to initial 
government estimates Friday. 

Gross domestic product rose 
1 percent from the previous 
quarter, the largest quarterly 
jump in two-and-a-haif years, 
and 3 percent from the same 
period last year, the Office of 
National Statistics said. 

Economists expected a 0.8 
percent rise on the quarter and a 
2.9 percent rise on the year. 

while the report came as 
welcome news to the governing 
Conservatives, it sent bonds 
lower and fanned expectations 
that interest rates will have to be 
raised after the general election 
Thursday to prevent inflation 
from accelerating. 

“The figures demonstrate 
that the economy remained 
buoyant during the first 

r ter,” said Philip Shaw, 
f economist at Union PLC. 
“They do provide another ar- 
gument for a degree of overall 
policy restraint ’ * 

Economists say “trend” 
economic growth runs between 
2 and 2.5 percent on an annual 
basis. Any faster than that and 
die economy risks overbearing, 
causing inflationary pressures. 

“A3 percent rise is clearly 
above trend and makes it very 
difficult for the authorities to sit 
back and not raise interest 
rates,” said Adam Chester, in- 
ternational economist at Ya- 
maichi International. 

Ciaran Barr, an economist at 
Deutsche Morgan Grenfell, 
said: “We expect the recovery 
to continue to accelerate. Base 
rates could rise by 2 percentage 
points by next year.” 

The potential for such a rate 
rise hit financial markets. The 
price of the benchmark 10- year 
gilt fell after the report, pushing 
its yield up to 7.67 perce nt fro m 
151 on Thursday. The FTSE- 
100 stock index fell 19.40 
points to close the day at 
4569-70 JBloomberg, Reuters)^ 


EUROPE 


Russian Cabinet Proposes New Tax Code 


Cuqded by Ow Ss&Fnm DupaKba 

MOSCOW — Prime Minister 
Viktor Chernomyrdin said Friday a 
new tax code would be proposed 
next week to replace current un- 
wieldy system, and he urged that the 
plan be enacted before year’s end. 

“The existing tax system binds us 
at the legs and the arms,” Mr. 
Chernomyrdin said at a special cab- 
inet meeting on the new tax code. 

The prime minister said the new 
tax plan would be submitted to Par- 
liament's lower bouse, the State 
Duma, by Wednesday. 

It calls for lowering rates, sim- 
plifying the tax system and slashing 
exemptions. Businessmen and 
economists say current tax law 
stifles tiie economy, fuels massive 


evasion and contributes to a severe 
revenue shortfall. 

The inability to collect taxes and 
pay workers is one of the state's 
most pressing problems. 

The plan already has been the 
subject of fierce bureaucratic infight- 
ing. Mr. Chernomyrdin conceded 
that pushing it through the oppo- 
sition-controlled State Duma would 
involve “even more interne work.” 

He noted that the new plan would 
likely cut government revenue by an 
estimated 72 trillion rubles ($12.5 
billion) a year. Officials hope to 
make up most of that loss by re- 
ducing tax evasion and cutting ex- 
emptions. 

Meanwhile, Sergei Dubinin, 
president of Russia’s central bank. 


said Moscow and the International 
Monetary Fund had agreed on Rus- 
sia’s monetary and fiscal policies 
for this year after a round of ne- 
gotiations this week in Moscow. 

The Itar-Tass press agency 
quoted Mr. Dubinin as saying that 
the document on which the two 
sides had agreed takes into account 
the 1997 budget revision, which 
should result in lower spending, 
since tax receipts are well below the 
level forecast in the first quarter. 

However, the revised budget 
must be approved by Parliament, the 
lower house of which has already 
said it would oppose any further 
budget reduction. 

The central bank chief also said he 
was sure the IMF board, at its next 


meeting in May, would release three 
monthly loan installments totaling 
5700 million in connection with its 
big loan to Russia of more than S10 
billion for the 1996-98 period. 

On several occasions the IMF has 
frozen monthly installments, par- 
ticularly because of the govern- 
ment's difficulties in increasing tax 
receipts markedly. 

Michel Camdessus, the IMF's 
managing director, said Thursday 
that in May he would submit a pro- 
posal for continued fund support for 
Russian reforms. 

Mr. Dubinin also said that Mos- 
cow and IMF experts had agreed to a 
review of the economy's perfor- 
mance once a quarter, instead of 
once a month. (AFP, AP. Reuters) 


Germany Again Airs Split on EMU 


CarySatbyOur SaffFrvm Diapadta 

DUSSELDORF — Even as 
Chancellor Helmut Kohl spoke re- 
assuringly about Germany's ability 
to meet the criteria and deadline for 
Europe’s planned single currency, 
doubts about a timely start were 
being aired Friday by a Bundesbank 
council member. 

The chancellor rejected calls to 
push back the start of the monetary 
union, while Reimut Jocfaimsea, the 
Bundesbank official, said that a 
delay should not be ruled out or 
“demonized” and that Germany 
should not be let in “witb a wink” n 
it misses some criteria. 

The contrary outlooks — often 
voiced before — typify tire polarity in 
Germany about whether Europe’s 
largest economy will meet the criteria 
for European Monetary Union and 
what should be done if it cannot. 

The possibility of Germany’s 
missing the criteria, especially the 
budget deficit limit of 3 percent of 
gross domestic product, has been a 
growing concern with near-record 


unemployment making it hard to 
trim jiublic spending. 

“rm not in favor of pushing the 
project back,” Mr. Kohl said. ‘ ’Ger- 
many will meet the criteria” 

Under the timetable adopted in tbe 
Maastricht Treaty on European eco- 
nomic and monetary union, coun- 
tries must meet a set of fiscal criteria 
this year to be eligible to join. 

Germany and France, considered 
to be the anchors of the planned 
monetary union, are struggling to 
cut their budget deficits. In 1996, 
both overshot the limit, ending with 
deficits of 3.8 percent in Germany 
and 4.1 percent in Ranee. 

A summary of Mr. Kohl’s speech, 
made public ahead of his address to 
the American Chamber of Com- 
merce in Germany, said that the 
chancellor “made it dear that he 
intended to stick to both tbe stability 
criteria contained in the Maastricht 
Treaty and the timetable.” 

But Mr. Jochimsen said it would 
be “e x traord in arily difficult” for 
Gennany to meet the deficit limit and 


might be “impossible” to cut the 
government's debt to the 60 percent 
limit from 61.5 percent last year. 

He warned against treating Ger- 
many more favorably than other 
contenders when the time comes to 
decide which countries will adopt 
the common currency, the euro. 

There can be no “gentleman's 
agreement that excuses the German 
failure to meet the criteria witb a wink 
to allow EMU to come into being,” 
while keeping Italy, Spain and Por- 
tugal out of the union, he said. 

Separately, Italy's Treasury min- 
ister, Carlo Azeglio Ciampi, said 
that forecasts by the Organization 
for Economic Cooperation and De- 
velopment indicated that Italy 
would qualify for tbe first wave of 
admissions early in 1988. 

“Tbe forecasts which the OECD 
will include in its report for June 
indicate that by the end of 1 997 Italy 
will achieve a budget deficit of 2.9 
percent of GDP, he said in an 
interview in the D Sole 24 Ore news- 
paper. (Bloomberg. AFX) 


Spain Phone Firm 
Rejects Bidder’s 
Request for Time 

Reuters 

MADRID — Retevision, 
which will soon become 
Spain’s second basic telephone 
operator, on Friday rejected the 
request of Unisource. a consor- 
tium, for more time to submit its 
statement of interest in purchas- 
ing 60 percent of the group. 

“Tbe Retevision sale com- 
mittee will propose to tbe board 
that Unisource’s request to 
delay the deadline for present- 
ing its candidacy be denied,” a 
Retevision spokesman said. 

This means Unisource will 
not be allowed to present an in- * 
dependent bid for me 60 percent 
stake in Retevision that the state 
is selling, although it will be 
allowed to join its effort with tbe 
other three groups of ladders. 

AT&T-led Unisource is a 
consortium of flagship compa- 
nies from the Netherlands, 
Switzerland and Sweden. 


UBS on Track for Record Earnings in 1997 


Bloomberg News 

ZURICH — Union Bank of Switzerland, con- 
firming expectations Swiss banks could 
record profits in 1997, said Friday that 
[uarter earnings were “considerably” higher 
a year earlier, boosted by commission and 
income. 

UBS, which never officially reports quarterly 
figures, said profits through March were 
“strong” in all areas, and “practically no new 
provisions” were necessary after last year’s 3 
billion Swiss franc ($2.05 billion) charge to 
rovCTTutme~lbanTossesL 


“We knew that the first quarter was brilliant 
for the banks, with rising financial markets and 
low interest rates,” said Christoph Bieri, an 
analyst at Zuercher Kantonalbank. "The reas- 
suring news today is that no more loans turned 
bad." 

UBS bearer share s rose 7 francs on Friday to 
1341 francs. 

Swiss banks have lost an estimated 42 billion 
Swiss francs on loans in the past six years, 
according to the Federal Banking Commission, 
ascompames failed and real estate prices Jell. _ 

Sbcuing provisions held back rising earnings 


from investment banking and asset management, 
and the three biggest Swiss banks — UBS. Credit 
Suisse and Swiss Bank Corp. — last year posted 
their first net losses as they took multi billion- 
franc charges to streamline their portfolios. 

Analysts said that strategy would lead to re- 
cord earnings this year. UBS is expected to post 
net profit of about 2.7 billion francs this year, 
after a loss of 348 million francs last year. 

So far this year, tbe Swiss Market Index has 
risen 22 percent, tbe best performance among 
Europe's major stock markets, while Swiss in- 
terest rates are at their lowest levels since 1979. 


Investor’s Europe 


Frankfurt 

London 

Paris 

DAX 

FTSE100 Index 

CAC4G 

3600 

4400 \ 

2B50 

3400 

4300 t/V 

2700 

3200 

42oo f r 

2550 

3000 * 

4100 

2400 

2800 

4000 

2250 A/ 

2*»m dj 

ttnn V* 

FMA ^NDJFMA 

»“n d 



1996 

Exchange 


1997 

Index 


1996 


1997 

Friday 


1996 


1997 


Prav. % ■ 
Close Change) 


Amsterdam 

AEX 

752.S2 

783.76 

-128 

Brussels 

BEL-2D 

220222 

2223.49 

-098 

Frankfurt 

DAX 

3274.10 

3,39726 

•088 

Copenhagen 

Stock Martel 

Closed 

542.98 

- 

Helsinki 

HEX General 

2,277.79 

2,884.41 

-023. 

Oslo- 

OBX 

5B&31 

804.14 

-1.30 

London 

FTSfelOO ““ 

4,389.70 

4.388.10 

4X44 

Madrid 

Siodk Exchange 

49921 

50429 

-1.14 

tan 

MtBTEL 

Closed 

12177 

-• 

'Paris 

CAC40 . 

%53&2B 

2J53SJB3 

-014 

Stockholm 

SXJI8 

2,73827 

2.777.75 


Vienna: -. . 

Arm 

120021 

121527 

-0.75 

Zurich „ 

SB'. 

. 3,02424 

3,051.18 

-0JB8 

Source: Tetekurs 


imem.iiion.il Herald Tribune 

Very briefly: 


• Trading supervisors at the Frankfurt stock exchange have 
started an investigation into suspected pricing irregularities in 
shares in Allianz AG Holding. The daily Handelsblatt said 
the inquiry concerned share traders at BHF Bank in Frankfurt, 
who are suspected of forcing Allianz's share price down 
before exercising put options. 

• Lukoil, Russia's biggest oil company, will issue level-three 
American Depositary Receipts in the first quarter of 1 998. 

• Russia plans to sell a 1.5 percent stake in RAO Unified 
Energy System, a utility, this fall, raising about $130 million. 

• Sol Melia SA’s chairman, Gabriel Escarrer, is looking to buy 
either Madrid’s Ritz Hotel, owned by Granada Group PLC, 
or a hotel in London, a spokesman for the company said. 

• Akzo Nobel NV’s first-quarter net profit rose 2.4 percent, to 
340 million guilders ($1 76. 1 million), on Iower-than-expected 
income from pharmaceuticals and coatings. 

• Whitbread PLC, a British brewer and leisure company, 
will sell 13 Country Club hotels to Regal Hotel Group PLC 
for £64.5 million ($104.6 million) in cash. 

• Dassault Aviation’s net profit rose 1 28.7 percent in 1 996, to 
917 million French francs ($158.3 million), mainly because of 
capital gains on the flotation of Dassault Systemes. 

• Volkswagen AG will raise prices on all its passenger cars 
and optional extras by 1 .9 percent as of April 28, 1 997, 

Reuters, Bloomberg. AFX 


Mobile Phones Lift Ericsson 

Bloomberg News 

STOCKHOLM — LM Ericsson AB, the world's 
biggest supplier of telecommunications equipment, said 
Friday (hat first-quarter pretax profit jumped 30 percent 
as sales for mobile phones and their networks doubled. 

Pretax profit rose to 2.02 billion kronor ($263 million) 
from 1.549 billion kronor in the first quarter last year, 
while sales climbed to 30.7 billion kronor from 22.66 
billion. 


WORLD STOCK MARKETS 


toon tw dm Prev. 


Hi* la* dore P rev. 

BIC 

BNP 


HI* Law date Piw. 
m M B M 

23&5D 734J0 236-30 23440 


HI* law dosa Prev. 


The Trib Index 

Prices as of 3.00 P.U. New York tmw. 

Jan 1. 1902= 100 

Level 

Change 

V change 

year to date 
% change 
40 99 

Work! Index 

150.61 

-1.58 

-1.04 

Regional Indexes 

Asm/Pacrfic 

109.11 

-0.85 

-0 77 

-11.60 

Europe 

159.42 

-2.20 

-1.36 

-1.10 

N. America 

174.12 

-1.77 

-1.01 

4-7.54 

S. America 
Industrial Indexes 

143.95 

•0.06 

-0.04 

+25.80 

Capital goods 

183.60 

-1.05 

-0.57 

+7.42 

Consumer goods 

171.07 

-1.83 

-1.06 

+5.97 

Energy 

177.99 

-2.35 

-1.30 

+426 

Finance 

108.92 

-1.71 

-1.55 

-6.47 

Miscellaneous 

152.98 

-0.72 

-0.47 

-5.44 

Raw Materials 

178 51 

-2.56 

-1.41 

+1.78 

Service 

141.05 

-0.66 

-047 

+2.72 

Utitmes 

13237 

-1.08 

-0.81 

-7.73 

The International Herald Tnbune World Stock Index O tracks the U.S. dollar values of 
2B0 euematlonaBy mvastabte stocks from 25 countries. For more information, a tree 
booklet k avaSabte by writing to The Tnb Index. 181 Avenue Charles do Gaulle. 

92S21 NeuOy Cedex. France. Compiled by Bloomberg News. 


















R 


ESTERHATIOSAL 


PAGE 12 


Fridays 4 PM. Close 

Nationwide ptos to) reftedfag tat* trades ebewtec- 

Tne Associated Press. 


NAI . HERALD TRI BUNE. ^ ATL-RD Vt-S^ -DAY. APRIL 26-27. 1997 

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Continued on Page i4 







* Moody’s Downgrades 
3 Thai Banks’ Debt 


tn Oj» Sk^f fwm Dtspatdwj 

BANGKOK — Moody’s In- 
vestors Service Inc. lowered long- 
term debt ratings for three major 
Thai banks Friday and called for 
tougher regulation amid concerns 
over deteriorating loan values. 

The UJS. ratings agency said the 
downgrades reflected the “anticip- 
ated impact that Thailand’s weak- 
ening financial fundamentals, de- 
clining property and stock markets 

deepening crisis in the finance com- 
pany sector and continuing econom- 
ic slowdown will have on the three 
banks’ asset quality, capital levels 
and profitability." 

Bank of Ayudhya PLC had its 
long-term senior debt and deposit 
ratings cut to Baa2 from Baal , while 
debt issued by Thai Military Bank 
Ltd. and Siam City Bank PLC was 
downgraded to Baa3 from Baa2. 

Moody’s had downgraded Thai- 
land's long-team sovereign debt rat- 
ing, to A3 from A2, two weeks ago. 

Unofficial estimates have put the 
level of bad debt in Thailand’s fi- 
nancial system at more than 700 
billion baht ($26.86 billion). 

Moves to downgrade the hanV 
debt had been widely expected fol- 
lowing a March announcement by 
Moody's that it was reviewing the 
three banks’ ratings. 

Thailand bad one of the world’s 
fastest growth rates until 1995, with 
annual rates topping 8 percent. 

But the country is suffering from 
a slowdown in its export-led econ- 
omy. a rising current-account def- 
icit, plummeting property prices and 


a shortage of cash at financial in- 
stitutions. 

Separately, Industrial Finance 
Coip. of Thailand said Friday that its 
board had agreed on terms for taking 
over the manag^mwir of Bangkok 
Bank of Commerce Ltd. 

The board agreed to buy 18 5 per- 
cent of the ailing bank's shares from 
the central bank's rehabilitation fund 
at 10 baht per share, for a total of 6.57 
billion baht, according to a statement 
filed with the stock exchange. 

Industrial Finance will receive 36 
million baht pier year in manage- 
ment fees and has profit-sharing op- 
tions, according to the statement 

The government took over the 
bank in May after it was found to 
have billions of baht worth of non- 
performing loans. 

Some senior executives, includ- 
ing Chief Executive Kririddat Ja- 
lichandra, have been charged with 
fraud and violations of the Banking 
Act AFP, Reuters 

■ Property Fears in Malaysia 

The International Real Estate Fed- 
eration’s Malaysian chapter said Fri- 
day that central bank limits cat prop- 
erty loans could lead overextended 
hanks to withdraw financing for de- 
velopers and even cause the collapse 
of die sector, Agence France-Presse 
from Kuala Lumpur, 
loans cannot top 20 per- 
cent of banks' total outstanding loans, 
excluding homes costing 150,000 
ringgit ($59,900) or less and owner- 
occupied properties, infrastructure 
projects and industrial facilities. 


The Great Wall 9 With Fries 


Bloomberg Nears 

BEIJING — Part of the Great Wall of China is for 
sale. And you get Big Macs and beer to go with it. 

The city of Beijing has grouped its stake in ticket 
booths for die Wall with its stakes in 30 McDonald's 
Coip. outlets. China's biggest brewer and other assets 
in an initial public offering next month intended to 
raise $180 million for their owner, Beijing Enter- 
prises Holding Co. 

Analysts said Beijing Enterprises was likely to be 
an instant hit with investors. 

“Everyone and his dog — and his dog’s vet — is 
just itching for Beijing Enterprises to come out,’ ’ said 
Haddon Zia, fund manager at Prudential Portfolio 
Managers (Asia) Ltd. 

Beijing Enterprises owns the rights to 60 percent of 
ticket sales at a section of the Great Wall that draws 4 
million visitors a year. It also owns a quarter of the 
franchises for McDonald’s 30 outlets in the capital. 

Beijing Enterprises also owns 80 percent of 
Yanjing Brewery. China's biggest beer producer. 

The decision to allow the company to go public is a 
sign that China is confident that die worst of its growing 
pains — including accelerating inflation and rampant 
corruption — have been relegated to the past- 

The sale also reflects the age-old rivalry between 
Beijing, the country’s political center, and Shanghai, 
its commercial hub. 

Shanghai sold its holding company, Shanghai In- 


dustrial Holdings Ltd., last year. Shanghai Industrial's 
market value, at S4 billion,’ now makes it die second- 
biggest Chinese company traded in Hong Kong. 

“It really is a matter of face with these Chinese 
companies," said Nerissa Lee. a funds manager ai 
Guinness Flight Asia Ltd. “They're going to try to 
outdo Shanghai Industrial." 

Acquisitions have lifted China-related stocks this 
year. The Bloomberg Red Chip Index, which tracks 
41 Chinese companies registered in Hong Kong, 
doubled in the past year. This week, the index re- 
gistered its best -ever gain — a hefty 10 3 percent. 

While $180 million might seem a modest target, 
analysts said Beijing Enterprises could flourish 
through acquisitions, which its connections could 
make easier. 

Beijing Enterprises' chairman, Hu Zhaoguang, is 
the city's vice mayor, an asset that bankers managing 
the share sale at Peregrine Investments Holdings Ltd. 
have made sure to highlight. 

“The company will actively seek opportunities to 
expand" by buying roads, dairy farms and tele- 
communications companies in the future, a research 
report by Peregrine said. 

Even without that potential, the company's existing 
assets make its stock look cheap, investors say. Beijing 
Enterprises plans to sell 150 million shares for between 
8 Hong Kong dollars ($1 .03) and 9 JO dollars each, or 
about 12.7 to 14.8 times its forecast 1997 earnings. 


Investor’s Asia 


Hong Kbrig 
Hang Seng 

14000 : — , — 

13500 
13000 -f' 


Singapore 
Shafts Times 


Tokyo 

Nikkei 225 



'N D J F M A 
1996 1997 


N D J F M A 
1996 1997 


N D J F M A 
1998 1997 


Exchange 
Hong Kong 

Index 

Hang Seng 

Friday 

Close 

12,645.76 

Prav. % 

Close Change 

12,726.63 -0.64 

Singapore 

Straits Times 

2419.8ft 

2,020.17 

-0.03 

Sydney 

M Ordinaries 

Closed 

2,474,70 

- 

Tokyo 

NB*ei225 

1fl.612.B6 

18,69607 -0.46 j 

Kuala Lumpur Composite 

14789-45 

1,096^3 

-0-65 

Bangkok 

SET 

684.00 

688.42 

-054 

Seoul 

Composes Index 

692.48 

690^0 

+024 

Taipei 

Stock Market Indeut- *£54.1 9 

8,629.23 


Manila 

PSE 

2,875L37 

2^0633 

-1-17 

Jakarta 

Composite index 

6S2.48 

652.98 

-OQ 8 

Woffington 

NZSE-4Q 

dosed 

>.253.57 

- 

Bombay 

Sensrthre index 

3,825^7 

3.806.72 

+052 

Source: Tetekuis 

IlttrnuiKvu! HenU Tnbunc 


Very briefly: 


• China’s economic growth will reach 10 percent this year. 

U.S. Aide Hopeful on China’s WTO Entry official Xinhua news agency ^said, citing a report by the 

IT J Academy of Social Sciences and the State Statistics Bureau. 


Reuters 

HONG KONG — James Sasser, the U.S. ambas- 
sador to China, said Friday that Washington hoped to 
conclude talks on China’s entry into the World Trade 
Organization by the time President Jiang Zemin visits 
the White House later this year. 

“I think there is hope,” he said. “Realistically, it's 
going to be difficult to do, but not impossible." 


Mr. Sasser also predicted a tough debate over re- 
newal of China’s most-favored-oation trading status 
this year, but he was optimistic it would be granted. 

Mr. Sasser said Washington would continue to push 
vigorously to reach a WTO agreement with China in 
conjunction with other members of the trade body. 
Foreign Minister Qian Qichen is to begin talks Monday 
in Washington to plan Mr. Jiang's visit. 


> The Bank of Japan said a slowdown in the six months ending 
in September was “inevitable" following the burst of spending 
before the tax increase April 1. But the central bank said the 
economy remained on track toward "moderate recovery." 

• Daiwa Securities Co. posted a net loss of 84.02 billion yen 
IS665.7 million) for the year ended in March, while Nikko 
Securities Co. reported a corresponding loss of 1 13.6 billion 
yen. Both brokenfge giants spent large sums during the year to 

bail out subsidiaries. .\FP. Bloomberg, Reiners 


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Competition 
Calls for 
France Telecom 

Post-privjHzation /oa’MSls. 
Pcr-shdr* amounts in French * 
francs, others in trillions 
o! francs, 


J&T 




YeartoDscambor 
[Sales 


181.6 


Net income 

14J5 


16.6 


Tax rate 

.46% 


42% 

wsm 

Earnings per share 

14.5* 


16.6 


Net dividend 

'' - ' 


6.8 



12.1- 


10.5 

SSfc'-.'. 




5.8%. 

E3||9 


Source; Remtngs Research 








<«•<&, >a> 


What Will France Telecom Be Worth? 


t 


By Digby Lamer 



F rance telecom's partial 

privatization has been delayed 
until June 24, giving investors 
some additional time to study 
the offer and the eventual price. If the 
issue had gone ahead as planned, with 
die government setting the price on May 
25. it would have had to compete with 
the first part of the two- round 
legislative elections scheduled 
for that day. 

Analysts said the government 
had no choice but to wait. Only 
an extremely low price could 
have drawn investor interest 
amid an election dial is centering 
on France's position on European unity. 

ivatization 
! But too low 

price would have Jett the government 
open to accusations of wasting public 
assets at a critical time for a country 
sensitive to what it calls its patrimony. 

The riming of the issue also is sen- 
sitive because the privatization may de- 
pend heavily on private investors. 

Although the government has corn- 
mined a minimum 25 percent of die 
issue to individuals, analysts predict 
that the actual figure will exceed 70 
percent, and they estimate that (he issue 
price will be from 1 50 to 200 francs ($26 
to $34). The government is to retain a 
minimum 51 percent. 

As with all telecommunications is- 
sues, investors may have difficulty de- 
ciding what is good value. Previous 
French privatizations have been crit- 
icized for being priced too high. But the 
privatization in May 1996 of the insurer 
Assurances General es de France was 
considered inexpensive, analysts said, 
and that could indicate a change in the 
government's approach. AGF shares 
were sold at about 128 francs and have 
risen to trade at about 184 francs. 

Jeremy Todger. an investment man- 
ager with Guinness Flight Asset Man- 
agement Ltd. in London said valuation 
was less of a problem now, because 




other major issues are in the market. 

“Deutsche Telekom, especially, 
provides a pretty good benchmark for 
the France Telecom issue," he said. 
‘ ‘They have many similar features." 

He added that strong prospects for 
growth in the telecom sector, thanks to 
the spread of mobile telephony and on- 
line services, made the initial value of 
(he stock less critical for investors in the 
long term. He said any price below 180 
francs would make France 
Telecom shares good value. 

William Laurent, chief tele- 
coms analyst at Robert Fleming 
Securities Ltd. in London, said 
dial comparing me telecom- 
munications company with an- 
other was hard but possible. 

“Valuation is difficult because none 
of these companies is the same," he 
said. “The normal price/eamings and 
price-to-cash-flow measures are all but 
meaningless; not least because they 
have international exposure." 

He recommended making a com; 
ison using the percentage return 
each company’s working capital. 

"Across Europe." he said, “there is 
a strong correlation between the return 
on capital and the valuation." 

The higher the return, the better die 
valuation. This technique would put 
France Telecom’s share value at 175 
francs, placing it in the mid-range of 
analyst expectations. Using the same 
calculation. Deutsche Telekom's mar- 
ket capitalization of 100 million 
Deutsche marks ($58 million) is slightly 
overpriced, while Spain’s Telefonica at 
3.2 billion pesetas ($22 million) and 
British Telecom PLC at £1.15 billion 
($1.84 billion) correlate exactly. 

Beyond the France Telecom issue, 
there is little telecom activity planned in 
Europe this year. Hie Greek government 
recently approved the sale ofa further 1 1 
percent of die Hellenic Telecommuni- 
cations Organization, known as OTE. 
This wiD be completed by July, putting 
19 percent in private harms. According 
to figures from CTT Research Ltd., the 
Greek government hopes to raise 270 


million drachma ($996,000) from die 
sale, 60 percent of which will be handed 
to OTE to finance future investment 

But Mr. Laurent said die best tele- 
communications opportunities were to 
be found in Asia. 

“Asia will undoubtedly be the most 
active region during 1997.” he said. 
The likely prospects are India's Videsh 
Sanchar Nigaxn Ltd. and Australia's 
rival telecom companies, Telstra Corp. 
and Optus Communications Pry. Telstra 
is expected to raise $7 billion and Optus 
S3 billion, said Mr. Lament, quoting 
both figures in U.S. dollars. 

In South Korea, international in- 
vestors will be able to hold up to 33 
percent of telecom stock as of 1998. 

The Thai government is processing 
legal changes to end the state's tele- 
communications monopoly. Analysts 
say this could lead to the sale of the 
country’s Telephone Organization of 
Thailand and the Communications Au- 
thority of Thailand. 

In November, the Indonesian gov- 
ernment pledged to sell 15 percent of PT 
Telekomunifcasi. 

A S WITH many emerging-market 
investments, it can be difficult 
for international investors to find 
accurate information about the compa- 
nies in which they hope to invest. Mr. 
Laurent said, however, that getting in- 
formation about quoted companies had 
become easier in the last two years. 

Despite tins progress, new public of- 
ferings may still be problematic, he 
warned. Previous attempted privatiza- 
tion of India's VSNL in 1993 was over- 
priced and Indonesia's PT 
Telekoraunikasi Indonesia issue in 
1995 was badly under-subscribed. 

Brazil 's Tele bras $A is the main con- 
tender for further privatization in Latin 
America. 

“Exactly when that will be is any- 
body's guess." Mr. Laurent said He 
said the government may begin by 
selling its holding in two successful 
subsidiaries, Tele SP and Embratel. 
neither of which is currently quoted. 


Paradise in Hong Kong? Look Again 


By Philip Segal 


A T FIRST BLUSH. Asia's 

/V utilities might seem like 
La paradise for international in- 
Jkvestors. With national eco- 
mic growth rates as much as 7 per - 
itage points higher than in Europe 
i North America, it is not surprising 
it Asian countries have utilities that 
>w faster, too. Yet these companies’ 
cks have lower volatility than 
ia’s markets overall and they often 
iture higher dividend yields. 

Within Asia, Hong Kong’s utilities 

1 If IC 


Chinese acquisition, die territory's 
biggest phone company has seen its 
monopoly profits eroded as competitors 
have been allowed into fixed-line, cel- 
lular and long-distance call-back ser- 
vices. The latter alone have grabbed 
almost 20 percent of TelecomTs busi- 
ness in the little more than a year that 
they have been allowed to operate. Tele- 
com's stock has surged several times 


this year on rumors that a company 
' by China would buy about 8 
t of Telecom from Cable & Wire- 



;vay u ay tuai « ^ — 

I to expanding into a market of taore 
a billion people, but it is not every day 
sovereignly over HongKong returns 



□i one ui uns -» — 

hs of many investors water because 
» great business connections such an 
gement would foster. 

; usual, investors looking for para- 
aught to set their sights a bit lower, 
long Kong's utilities look to riskier 
itments in China and to increasing 
exposure to real estate, they will 
; lo lode less like traditional, de- 
able. defensive utilities, and more 
he rest of the market Returns may 
, but so will the risk. 



Ik JE11E Wuuwv- 

t . Hong Kong Telecommumca- 

j(L, “is really not a utility any- 
' said Gary Chan, head of re- 
al Union Bank of Switzerland, 
likeliest possible target of a 


in order to wrest control of the 

phone company from British hands. 

Analysts such as Mr. Chan said the}' 
liked die stock, and they said that die 
competitive pressures it is facing are 
already in the price. Others see prob- 
lems ahead, because Telecom has to 
invest most or all of its cash to get 
access to new technologies, all the 
while facing increased competition. 
“This is ‘Paradise Lost’ for Hong Kong 
Telecom," said Daniel Widdicombe, 
an analyst at Bear, Steams & Co. 

What about China coming up with a 
nice chunk of cash for the Cable & 
Wireless stake it has been eyeing? 

“China can't afford Telecom for 
cash,” Mr. Widdicombe said. “ It 
could only do i t for an equity swap with 
C & W." His rating on the stock; selL 
The other three utilities in Hong 
Kong are still what they pretend to be: 
monopoly providers of essential ser- 
vices. Yet here, too, things are chan- 
ging fast Hong Kong & China Gas Co. 
is the star of the three, now trading at 20 
times this year’s estimated earnings; 
more than a 20 percent premium to the 
pest of the market, according to 


Richard Ferguson at Nomura Inter- 
national (HK) Ltd. 

The gas company is a utility, but last 
month the managing director, Mal- 
colm Matthews, said his aim was to 
increase its dependence on real estate 
to as much as a quarter of total profit 
w ithin five years. The gas company has 
a 5 percent stake in a $5.2 billion 
property development, part of Hong 
Kong’s new airport railroad, as well as 
a large residential development in the 
Kowloon section of Hong Kong. 

So this utility must not be valued 
without taking a view on real estate 
prices. That spells volatility, because 
property prices in Hong Kong have 
moved by as much as 40 percent in a 
single year. 

Hong Kong has two noncompeting 
electric companies that have divided 
the territory into exclusive service 
areas. For years, they have set their 
rates according to capital expenditure: 
the more they built, they more they 
were allowed to charge. 

Now, with much of Hong Kong’s 
industry having moved across the bor- 
der to China, the larger of the two 
utilities, China Light & Power Co., is 
facing overcapacity of 50 percent and 
the prospect that one day China will 
also supply Hong Kong's power. 

StilL as with the gas company, there 
is always real estate. Alice Hui. an 
analyst at W.I. Carr (Far East) Ltd., 
said die has trading buys on China 
Light and Hong Kong Electric Hold- 
ings Ltd. Investors “will be com- 
pensated by property interests for 
lower revenues ned to capital ex- 
penditure,’' she predicted. 


Stodgy No More, Utilities Sparkle 

Globalization Makes Power Companies an Interesting Play 


By Judith Rehak 


E lectric utility compa- 
nies have traditionally been sol- 
id. safe investments for share- 
holders seeking steady income 
rather than the excitement of share-price 
appreciation. 

But deregulation and a rush by es- 
tablished companies into overseas mar- 
kets are transforming this once-stodgy 
industry into an array of investment op- 
portunities. generated by a series of pri- 
vatizations. cross-border acquisitions, 
takeover battles and friendly mergers. 

In Britain, shareholders in privatized 
electric utilities have already reaped 
handsome returns as their investments 
became takeover targets. Of 12 such 
companies, only one remains independ- 
ent after a two-year buying spree led by 
American utilities seeking more lucra- 
tive markets abroad as they face shrink- 
ing profits at home. 

In Latin America, where demand for 
electricity is exploding, the race is on for 
a piece of the action. Last week, three 
consortiums, including utilities from 
Argentina, Belgium, Chile, Spain and 
the United States, were battling to 
provide energy to Chile’s booming cop- 
per-mining region. Privatizations, such 
as Electrobras SA in Brazil, and, later 
this year. Electricidade de Portugal, are 
attracting big institutions, mutual funds 
and individuals as they list their shares 
on foreign stock exchanges. 

There are several approaches for in- 
vestors considering a stake in this de- 
veloping sector. Not all privatizations 
end in takeovers and relatively quick 
paydays as they have in Britain, but some 
make worthy longer-term investments. 

For example, NatWest Markets in 
London has a buy recommendation on 
Empresa Nacional de Electricidad SA. 
Spain’s dominant electricity generator 
and distributor. Already partially privat- 
ized. Endesa’s stock pnee slumped in 
January as regulatory negotiations in 
Spain, often mired in political squabbles, 
got under way. But to the surprise of 
many observers, the talks are ahead of 
schedule, said Lueder Schumacher, who 
follows the company for NatWest 
"Also very revealing was that En- 
desa's dividend payment came in for 
ahead of expectations." he added, noting 
that it jumjttd 5 1 percent to 280 pesetas 
($1.90) a share, for last year, versus 
predictions of as little as 17 percent. 





^jj-Chilgener 
, ADR price 

\ 'JS8 



IHT 


Endesa has global ambitions as well. 
It is parr of a group that purchased 70 
percent of Companhia de Electricidade 
do Rio de Janeiro SA in Brazil in 
November. But Mr. Schumacher also 
likes its strong domestic position, where 
he .anticipates an earnings boost from 
majority stakes it took in two other 
Spanish utilities last year. 

He suggested buying it for the capital 
gain. Shares are currently selling at about 
9.920 pesetas . and he predicted that they 
could go as high as 1 1,400 pesetas over 
the next six months. The company also 
has American depositary receipts. 

U.S. electric utilities are jumping on 
the global bandwagon, but declaring 
oneself an international player does not 
guarantee a bonanza for shareholders. 

"You have to ask if these companies 
are really prepared to work in other 
countries," said Steven Fleishman, a 


utilities analyst with Merrill Lynch & 
Co. “Some are, and some aren't." 

One that meets the criteria, in Mer- 
rill’s view, is Edison International Co. 
Last year, the California-based utility 
bought First Hydro Ltd., a hydroelectric 
power plant in Britain. It also is building 
a SI. 8 billion power plant in Indonesia 
with General Electric Co. and is de- 
veloping a project in Italy that is to sell 
power to an oil refinery. ’ 

What sets Edison a pan from its com- 
petitors. Mr. Fleishman said, is that oth- 
ers are buying foreign utilities in com- 
petitive auctions where the resulting 
returns are lower. 

“Edison is doing more from the 
ground up, and because that's harder to 
do. that adds value to returns for in- 
vestors." he said. 

The company's shares have moved 
up to $20 JO from $15 in recent months; 
Merrill's target price is $26 over the 
next year, aha S37 by 2000. 

American companies are not die only 
ones on the prowl for attractive markets 
abroad. Gilben Casillas, who follows 
Latin American electric companies for 
Salomon Brothers Inc., favors Chilgener 
SA. Chile's second-largest generator. 

“They have ample cash flows from 
existing operations, and they're willing 
to be more aggressive in terms of ex- 
panding their business outside of Chile, 
where there's more money." he said. 

Like many international electric util- 
ities, Chilgener is looking to neighbor- 
ing Brazil, where demand for electricity 
is exploding. But it is avoiding the rush 
of privatizations of Brazil's huge elec- 
tric companies, in which it could own 
only a small stake, in favor of building 
facilities where it can lock in revenue, 
Mr. Casillas said. 

This year, the company will begin 
construction of a coal-fired plant in the 
Parana region of Brazil, with operations 
to start in 1999. 

In keeping with the new world of 
electrical utility investing. Mr. Casillas 
noted that Qulgener's dividend was 
modest. Instead, he is focused on com- 
ing earnings growth, propelled by two 
new projects in northern Chile, where it 
has won contracts that produced rev- 
enues of $35.8 million last year and 
should grow to $ 123 million in 2000. In 
1999, when revenue from the Brazilian 
projects begins to stream in, he said, the 
company will have "a rich year.” Be- 
sides its Chilean listing. Chilgener 
ADRs trade in New York. 


CL 


sv 




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THE MONEY REPORT 


♦Funds as Safe Havens in a Rocky Sector 

With Volatile Utilities, Blending Income and Growth Stocks Is Best Bet 


ByBarbara Wall 

I F THE PERFORMANCE of utility 
stocks m recent months has taucln 
investors anything, it is to beware 
of chasing high yields. Some 
companies that many believed could 
never disappoint have been forced to 
reduce dividends, while many others 
i. have increased their yields despite poor 
W corporate performance in order to main- 
tain their investor bases. 

- Deregulation, mergers and takeover 
activity has made the utilities sector 
volatile, which is why investors may fed 
safer opting for a managed fund rather 
than trying to pick individual stocks. 

• Most utility funds are U.S.-domi- 
ciled. Some funds chase yield, but most 
aim for a combination of income 
capital growth. Yield funds are primar- 
ily invested in electricity and gas- 
pipeline companies, while jncome-and- 
growth funds generally gravitate toward 
telecommunications stocks. 

* Lipper Analytical Services in New 
York tracks pofonnance of more than 90 
U.S. utilities funds. It ranked MFS Util- 
ities, ran by Massachusetts Financial 
Services, as best in terms of total return 
over three and five years and second over 
.4 one year. From March 1992 to March 
1997, the fund’s value grew 103 percent. 
Its annual yidd is now 4 percent 
Funds that are solely concerned with 
yields have not been doing as welL Of 
the pure income funds monitored by 
Upper, Merrill Utility Income achieved 
one of the highest yields in the 12 months 
to March 1997, 6.05 percent on its Class 
A shares. Yet the total return was just 
1.67 percent over that time frame 
“Funds that chase yields have, on the 
whole, done badly in recent years," said 
Maura Sbaughnessy, an MFS Utilities 
manager. ‘"‘Although some have ach- 
ieved yields of 6 and 7 percent per annum , 
this has generally been at the expense of 
f capital protection. Even professional m- 
y vestors have been caught out by the grow- 
• J ing disparity in performance between 
stocks that are in the same subsector." 

’ ‘Some of the high-yielding domestic 
electricity companies have fallen by as 
much as 60 percent," she added, “be- 


cause they were poorly positioned to 
talre advantage of regulatory changes.’’ 
if there is such a thing as a sleep-well 
stock, Ms. Sbaughnessy would 

nOrnmatBfTMSKqpygyfViTp nfh ffirhig am 

or Sierra Pacific Resources in Nevada. 

‘ The companies are growing at 5 per- 
cent and 8- percent per annum, respect- 
ively.” she said. “Sierra Pacific still 
looks cheap and CMS Energy's growth 
rate is likely to increase on the back of its 


Although MFS Utilities is invested 
primarily m American companies, Ms. 
Shanghnessy is eager to increase the 
portfolio’s exposure to other markets, 
including Britain and Brazil. 

“The fund has invested in the two 
main British power generators. Power- 
gen and National Power,” she said. 
“Both companies offer attractive yields 
and would appear to have excellent 
earnings potential. Doomsday mer- 

zero when the market* is Iiberalhzecl in 
1998, but this is not a major warty.’’ 

JF Second Utilities Trust PLC is a 
split-capital investment trust run by 
Johnson Fiy Asset Managers in London. 
Split-capital trusts are similar to dual- 
purpose mutual funds. They have dif- 
ferent classes of shares in the same 
portfolio with varying objectives; cap- 
ital gains and dividends are apportioned 
among the. classes according to pre- 
detennined formulas. 

Richard Neill, a spokesman for the 
trust, said British utilities offered some of 
the best opportunities for combined yield 
and earnings growth. “Concern aver a 
possible post-election windfall tax on 
privatized utilities has pushed up yields 
and affected market sentiment," he said, 
“but the pessimism seems to be over- 
done, especially with regard to telecom- 
mumcanon, water and electricity stocks. 
Balance sheets are extremely well-fin- 
anced and managements appreciate that 
customer service and executive remu- 
neration are politically sensitive issues." 

The trust’s major utility investments 
are electricity and water companies. 

“The fund’s managers have gradu- 
ally increased the. portfolio's exposure 
to the British power generators National 
Power and Powergen," Mr. Neill said. 


Getting Over the High-Tech Hang-Up 

O VER THE PAST YEAR, way around the High-Tech Hang-Up. ing 1997) and has increased more than 
Cisco Systems Inc., maker of Leslie Douglas, a partner in the old- 15-fold in value over the period, and 
computer networking equip- line Washington investment firm of Microsoft Inc., die world’s top soft- 
ment, has taken investors on Foiger Nolan Heroine Douglas, has ware company, which has been a 


O VER THE PAST YEAR, 
Cisco Systems Inc., maker of 
computer networking equip- 
ment, has taken investors on 
a roller-coaster ride; from $58 a share 
in late June 1996 to $47 in July, then up 
to $75 in February and down to $47 on 
Friday afternoon. 

High-tech companies like Cisco are 
like the rest of the stock market — only 
more so. In the short ran, 
they are extremely volatile, ” 
but in the long run, they J ** K * 
tend to rise, and smartly. If 
you had bought 1,000 shares of Cisco 
exactly five years ago for $36,500, 
today you would have 8,000 shares 
worth $376,000. 

Investors who can endure volatility 
can profit handsomely from high-tech 
stocks. A portfolio that skimps on tech- 
nology is missing die best bet of the 
century (20th and 21st). 

This may be a good time to buy tech 
stocks, since many of them have been 
beaten down badly. Netscape Com- 
munications Corp~ maker of the pi- 
oneer Interact browser, has fallen to 
$25.75 from $65 in five months. PBHG 
Technology & Communications, a 
widely admired mutual fund that was 
up 54 percent last year, has dropped 20 
percent since Feb. 1. 

There is, however, a problem- 1 call 
it the High-Tech Hang-Up: Most of us 
do not understand what the companies 
do, what their products are, whai com- 
petition they face, what their future 
holds. When we buy stock in Wal-Mart 
Stores Inc. or Coca-Cola Co., we have 
a fairly clear view of such matters, but 
with mgh-tech, we are flying blind. 

I would like to suggest a fascinating 


way around the High-Tech Hang-Up. 

Leslie Douglas, a partner in the old- 
line Washington investment firm of 
Folger Nolan Fleming Douglas, has 
recognized the importance of high- 
tech and has devised a relatively low- 
risk way of profiting from it. Here is the 
Douglas Theory: 

At the start of every year, you invest 
equal amounts in the five largest 


CLASSMAN ON INVESTING 

companies listed on Nasdaq, the over- 
the-counter market with a surfeit of 
tech stocks. Then, after a year, adjust 
the holdings, replacing any stocks that 
have fallen out of the top rive. 

hi tins case, largest refers to maker 
capitalization — the number of shares 
outstanding times die price per share. This 
figure is roughly what investors believe 
the entire company is wrath. 

Mr. Douglas showed me figures us- 
ing his system that go back six years. 
They are impressive. On average, 
Douglas Theory stocks returned an in- 
credible 3 3 percent annually, while the 
Dow Jones industrial average returned 
just under 17 percent. Mr. Douglas beat 
the Dow in five of the six years. His 
returns ranged from alow of 4.5 percent 
(1993) to anigh of 65.8 percent ( 1996), 
while the Dow’s range was from 2.1 
percent (1994) to 32.S percent (1995). 

. Although the Nasdaq is not snictly a 
high-tech market , the top five stocks 
since 1991 have always been tech- 
based. Two companies have domina- 
ted the. list: Intel Crap., the semicon- 
ductor maker, which has made it in 
seven of the past seven years (includ- . 


ing 1997) and has increased more than 
15-fold is value over the period, and 
Microsoft Inc., die world’s top soft- 
ware company, which has been a 
Douglas stock since 2992. 

This year’s five companies, in ad- 
dition to Intel and Microsoft, are Cisco; 
MCE Communications Corp., the tele- 
communications company about to be 
acquired by British Telecommunica- 
tions PLC, and Oracle 
Corp., the database maker. 

The list does not change 

much from year to year; the 
only alteration in 1997 was that MCI 
replaced Amgen Corp., die biotech 
pharmaceutical concern. 

Why does the Douglas Theory work 
so well? First, high-tech growth has 
been beating even well-managed con- 
sumer companies, the darlings of the 
market Five of the 10 top-performing 
mutual funds over the past five years 
have specialized in technology, ac- 
cording to Mornings tar Inc.: Fidelity 
Select Electronics, Fidelity Select 
Computers, Seligraan Communica- 
tions and Information. PBHG Growth 
and Alliance Technology. 

Second, by concentrating on large- 
cap companies, Mr. Douglas does not 
expose his list to horrendous risk. It is 
doubtful, for instance, that Microsoft, 
holding cash and marketable securities 
of $7 billion and no long-term debt, 
will go out of business any time soon. 

Third, despite their successes. Intel 
and Microsoft, especially, are viewed 
with some skepticism on Wall Street. 
Unlike with smaller high-techs, in- 
vestor enthusiasm in large-caps does 
not go to extremes. 

Washington Post Service 




BNP Gets Bullish 
On Bulgaria 

Banque Nationaie de Paris 
suggests the ravaged Bulgarian 
economy is attractive for in- 
vestors who are not afraid of 
risk. After sp ending the 1990s 
shrinking, "either the econo- 
my will implode, shrivel up 
and die on the slab, or it will 
recover. Lazarus-like, emerg- 
»ing on the far side with aD its 
Vacuities intact,” BNP said. 

David McWilliams and Mi- 
chael Temchin of BNP’s Lon- 
don office are betting on the 
latter outcome, with several 
caveats. The first is thai the 
new government goes ahead 
with a pledge to establish a 
currency board, which would 
replace the central bank and 
frw~nc pvdusivelv on support- 


ployment rate of abour 12.5. 
percent, the country would 
have to undertake major eco- 
nomic reforms likely to bang 
that to 20 percent this year. 

BNP reckons that the hun- 
ger for foreign exchange will 
encourage the government to 
“sell the family silver’ ' via 
bargain-priced privatizations. 
Investors, the analysts said, 
should buy the dollar-denom- 
mated state bonds known as 
Zimks, which have equity- 
conversion features that BNP 
thinly could be sweetened for 
technical reasons. The high 
jobless race, meanwhile, will 
dampen wages, encouraging 
worker productivity. 

The strategy is risky and de- 
pends on die economy recov- 
ering to the point where Bul- 
mria can live off its exports. An 




Venture-Cap Funds 
May Face IRS Tax 

U.S. vezrmre-capital part- 
nerships were roiled in August 
when the Internal Revenue 
Service unexpectedly indicat- 
ed that it was within its jur- 
isdiction to impose a 35 per- 
cent tax on cash distributions 
to foreign limited partners. 

But die industry hopes the 
IRS is having second thoughts. 
So far, no fund has incurred 
the penalty, and the section of 
the IRS Code that deals with 
the tax has been suspended j 
while under review. 

Mark Heesen, legislative 
director of the National Ven- 
ture Capital Association, said 
die rule was designed to keep 


OFFSHORE 

COMPANIES 

From US $350 only 


track of the transfer of assets 
and money overseas, but the 
IRS and venture-cap funds 
alike had ignored il “But 
then someone asked, and by 
law, the IRS had to respond, * ' 
Mr. Heesen said (JUT) 


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1 ‘Both companies have invested heavily 
in overseas power generating projects 
over the last few years, and National 
Power, in particular, has been successful 
in exploiting several opportunities in 
emerging markets, notably Pakistan.” 

City financial Shaw Utilities was the 
first utilities unit mist to be started in 
Britain, in March 1 993. Micropal ranks it 
first out of four income -and-growth util- 
ities mutual funds over the three-year- 
period to April 1. 1997. Since 1993, the 
fund’s value has grown by 80 percent. 
The current yield is about 6.50 percent. 

The fund's original mandate was to 
invest in British water stocks, electric 
distributors, power generators, gas and 
telecom stocks. It has diversified into 
associated areas, such as airports, mo- 
bile-phone companies and railroads. 

There are at least two funds domiciled 
in Britain that invest in utility shares 
around the world: JF European Utilities 
Trust PLC and the Gartmore Global 
Utilities Fund, which is run by Gartmore 
Fund Managers Ltd. Both seek a com- 
bination of income and growth. 

Simon Melluish, a manager with 
Gartmore in London, said he favored 
British utility stocks for their high yields 
and European, Asian and Latin Amer- 
ican stocks for growth exposure. 

"In Continental Europe, we are 
primarily interested in ensuring that 
valuations are reasonable.” he said. “A 
favorite stock with managers is the 
second Portuguese mobile -phone license 
operator, TeleceT Comunicacoes Pess- 
oais. Other major holdings include the 
Belgian Telecom company Electrabel— 
one of the few pure dividend plays in 
Europe — and Telecom Italia.” 

JFEuropean Utilities Trust is heavily 
invested in telecom stocks. The fund has 
profited from investments in Southern 
Europe, but managers are looking to 
increase the fund’s exposure to oper- 
ations elsewhere, such as British Tele- 
com and Deutsche Telekom. 

For Junker information call: 

• Qty FmancUl Shaw Utilities, 44 17] 407 5966. 

• GartmOiT Gtoh.il IMines Fund. 44 171 7822563. 

■ IP Secmd Utilities lYua and JF EimpeM UtBincf Tins, 44 
171 451 1000. 

• MFS UlUtta: Ncu-U-S. hvaMi shooW can 44 171 47071321. 
b the (Mod Stales, call 1 800 637 29» a 617 954 5000. 

• MeniU Utility Income, ! 608 282 2801. or in the United Stales. 

1 800 637 3863. 


U5. Funds Over Ona Year 

% return 

Yield 

U.S. Funds Over 5 Years 

% return 

Yield 

Prudential Utility; Z 

18.46 


Fidelity Utilities 

83.21 

2.77%' 

MFS Utilities; A 

18.44 

. 4.oi *; 

Putnam Utility; A 

80.05 

4.04 ' 

Federated World Utility; A 

18.28 

: &37 • •*« 

Highest Yielding U.S. Funds 
Merrill Utility Inc; A 


■ 

Prudential Utility; A 

18.21 

; 2 & 4 ' 

% return 
1.67 

Yield 
&Q5 ' . 

MFS Utilities; C 

17.58 

■ 3 *^ 

EV Trad. Total Return 

5.03 

5.92 

U.S. Funds Over 3 Years 

% return 

" ~ Yield** 

Merrill Utility Inc; D 

1.53 

5.79 

MFS Utilities; A 
MFS Utilities; C 

57.50 

53.32 

: 3^7 

Flagship Admiralty; Util. A 

6.30 

5.75 

MFS Utilities; B 

53.30 

: S- 85 * 

Smith Barney Utilities; A 

3.94 

5.60 . 

Strong Am. Utilities 

52.28 

i 3:ti 

U.K. Funds Over One Year 

% return (ln£) 

Yield 

Lindner Inv. Utilities 

49.59 

■ ' ■ ■■■ 

C.F. Shaw Utilities 

11.21 

6.49 ' 

U.S. Funds Over 5 Years 

% return 

Yleki ** 

Gartmore Global Securities 

5.96 

0.95 

MFS Utilities; A 

103.49 

" 4, 01 r ; 

J. Fry Utilities Ord (2003) 

20.88 

. 11.60 

Global Utility Fund 

86.36 

; • s-si • * j 

J. Fry Utilities -Zero (2003) 

12.35 

'.0.00 

Prudential Utility; A 

83.21 

zM. .1: 

Average 

13.34 1 

4.76 


Source: Upper Analytical Services (U.S.); Micropal QJ.K.) 


A Feast for the Yield-Hungry Investor 


By Ann Brocklehurst 


W ITH DEREGULATION, 
privatization and globaliz- 
ation, many utility shares 
are no longer the low-risk 
dividend producers they used to be. In- 
vestors now must do considerable home- 
work to determine a utility's 
capacity for income growth and 
its chances of succeeding in a 
competitive environment 
“In the past, one utility stock 
was the same as the other,” said 
Philip R. O'Connor, a principal 
with Coopers & Ly brand/ 

Palmer Bellevue in Chicago. “They 
were income stocks and paid fairly reg- 
ular dividends.” 

Whether investors bought a phone, 
electric or gas company, the advantages 
and disadvantages were similar, since 
these regulated utilities were limited to 
specified rates of return on their assets. To 
compensate for stable stock prices, they 
paid large dividends designed to attract 
yield-hungry investors, and they financed 
growth by issuing new securities. 

While Mr. O’Connor said he believed 
many utility companies would remain 
income stocks, others will no longer use 
spare cash to pay dividends, opting in- 
stead to reinvest it. In the United States, 
where the electrical industry is being 
deregulated, distribution companies will 
likely continue to be income producers 
due to the steady nature of their busi- 
ness. If they wish to become involved in 
supply, however, they will be taking on 
far more risk than in the days of mono- 
poly and shareholders may nor reap the 
same level of dividend payments. 

Daniele Seitz, a vice president of UBS 
Securities in New York, said the nar- 


rowing spread between yields on elec- 
tric-company shares and those on long- 
term bonds in the current low-ime rest- 
rate environment was a “clear reflection 
that investors anticipate electric compa- 
nies in die U.S. won't be as consistently 
generous with dividends as in the past” 

While long-term bonds and utilities 
appeal to income-conscious investors, 
bonds are attractive when high 
rates make yields rise and utility 
stocks are favored when in- 
terest rates are low. 

Ms. Seitz sees particularly 
good income and growth pros- 
pects for American Electric 
Power Co. of Columbus, Ohio. 
As a low-cost producer surrounded by 24 
other electric utilities, most of which are 
higher cost, it will have a definite edge 
when it is allowed to bid for new con- 
tacts. she said. 

In many ways, the United States is 
following the example of Britain, which, 
according to Derek HasBrouck of the 
consulting firm Theodore Barry & As- 
sociates, went from a state-owned util- 
ities system “quite a way behind the U.S., 
to one that was two giant steps in front of 
the U.S. in market structure.” The newly 
privatized British utilities rewarded in- 
vestors far more spectacularly than their 
U.S. counterpans ever bad. with many 
paying out large special dividends. 

But after a wave of mergers and ac- 
quisitions. tire British utilities that remain 
publicly traded appear to be performing 
like traditional income stocks, attracting 
investors with generous dividends. 

“You still get a fairly healthy in- 
come, but what is declining is dividend 
growth," said Richard Moore, a Hoorn 
Govett analyst in London. He cautioned 
investors to check that companies could 
afford the dividends they were paying. 


saying thai "certain utilities" in Britain 
were “‘over-distributing." 

He said, for example, that he sus- 
pected the dividends of United Utilities 
PLC were being funded by borrowing, 
making them less attractive to share- 
holders in the long-term. But he re- 
commended Severn Trent Water, which 
he estimated would have a gross di- 
vidend yield of 6.5 to 7.0 percept this 
year with the potential to grow at 10 to 
1 1 percent. 

"I think it's the one to buy," he said. 
"You can stick it under your pillow and 
sleep at night.” 

Risk-averse utilities investors will 
also be happy to note that they will soon 
be able to go global without venturing 
directly into emerging markets. U.S. and 
British utilities facing competition at 
home have been buying up companies 
around the world as they look for growth 
in each other's markets as well as in Asia, 
Larin America and Eastern Europe. 

In the meantime, investors in search 
of yield must be prepared to accept a 
higher level of risk than that associated 
with traditional utility investments. 

With a slew of utility privatizations 
coming up in Latin America. Keith 
Howe, a finance and utilities specialist 
at De Paul University in Chicago, sug- 
gested that investors could take advan- 
tage of growth opportunities and cut risk 
by buying a basket of five to eight 
telephone stocks. Because of the tre- 
mendous need to invest in infrastruc- 
ture. these companies are unlikely to use 
their cash to pay high dividends and they 
probably are not what the income- 
hungry investor had in mind, but Mr. 
Howe sees strong growth potential. 

"They're only going to improve as 
income levels rise and more and more 
people get hooked up." he said.. 


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PAGE 18 


^ lieralfc^Eributtc 

Sports 


SATORDAl'-SUNDAX, APRIL 26-27,1997^ 




It to 


World Roundup 


Rivers Shows His True Colors 


Woods Accepts 
ZoeUer’s Apology 


GOLF Tiger Woods said he ac- 


cepted Fuzzy Zoeller’s apology, al- 
ana dis 


though he was stunned and dis- 
appointed by Zoeller’s racially 
insensitive comments. 

“At first. I was shocked to hear 
that Fuzzy Zoeller made these un- 
fortunate remarks,” Woods said 
Thursday in a statement released by 
his management agency, IMG. 
“His attempt at humor was out-of- 
bounds, and I was disappointed by 
it But having played golf with 
Fuzzy, I know he is a jokester, and I 
have concluded that no personal 
animosity toward me was inten- 
ded.” 

Zoelier, 45. was fired by his 
sponsor, Kmart Corp., and with- 
drew from this week's Greater 
Greensboro Chrysler Classic on 
Wednesday. 

“I am the one who screwed up 
and I will pay the price," Zoeller 


said after pulling out of the S1.9 
ent. “I s 


million event. “1 started this, and I 
feel strongly that 1 have to make 
things right with Tiger first before 
anything else. I also regret the dis- 
traction this has caused the world of 
golf." (AP) 


Moya Defeats Krajicek 


tennis Carlo Moya, who lost to 
Pete Sampras in die Australian 
Open final, showed he could also 
win on clay by defeating the 
Wimbledon champion, Richard 


Krajicek, at the Monte Carlo Open 


on Friday. 

Moya rallied to beat Krajicek, 1- 
6, 6-2. 6-4. The sixth-seeded Moya 
is to take on seventh-seeded Mar- 
celo Rios in one of Saturday's 
semifinals. Rios beat Magnus 
Larsson of Sweden, 6-2, 6-1, in 49 
minutes. 

Fabrice Santoro of France con- 
tinued his streak by beating Carlos 
Costa. 6-3, 7-5, to also gain the 
semifinals. Alex Corretja routed 
Christian Ruud of Norway, 6-2, 6- 
0, in the other quarterfinal. (AP} 


Green Suitor for Brown? 


basketball The Indiana 
Pacers' coach, Larry Brown, will 
meet with Boston Celtics owner 
Paul Gaston next week to discuss 
replacing M.L. Carr as head coach. 
The Boston Globe reported Fri- 
day. 

Carr is expected to give up die 
job he has held the past two seasons 
after Boston posted die worst re- 
cord in its history. 15-67. His po- 
sition as director of basketball op- 
erations also appears to be in 
jeopardy. 

Brown has talked more than once 
by telephone with the Celtics and 


may be in Boston on Monday for 


the in-person meeting, the Globe 
said, citing anonymous sources. 

It also quoted the Pacers’ pres- 
ident, Donnie Walsh, as saying 
Brown told him about the planned 
meeting. Brown coached the Pacers 


the past four seasons, taking them 
nee finals ii 


to the Eastern Conference finals m 
1994 and 1995. They were elim- 
inated in the first round in 1996 and 
missed this year's playoffs. (AP) 


James Leads Spanish Open 


golf Mark James of England 
opened a two-shot lead in the 
second round of the Spanish Open 
on Friday, as Jose Maria Olazabal 
of Spain scored a hole in one on the 
278-yard 2 7th hole. James posted a 
four-under-par 68 to move to 135, 
nine under. (AP) 


American Leads Olympiakos to EuroLeague Title 


By Ian Thomsen 

International Herald Tribune 


R OME — David Rivers had been 
hearing for two seasons that he 
might be too flamboyant, that he 
was too much the American showman 
to win the most serious basketball prize 
in Europe. 

Well, this all turned out to be a big 
misunderstanding. When that prize 
came within reach in the final or the 
European Championship, Rivers 
grabbed it firmly. 

He was not so much the point guard in 
Olympiakos's 73-58 victory over Bar- 
celona on Thursday night as he was a 
rescuer, a creator and a reliable pair of 
eyes that his teammates sought out 
every few moments. Rivers moved back 
and forth in the relaxed hurry of the 
emergency-room physician who never 
seems to raise his voice. 

Overall, he scored 54 points on just 25 
field goal attempts in his team's pair of 
victories at the Final Four. Without him. 
Olympiakos might have lost its third 
European final in four years; with him, it 
controlled the second half. He was voted 
Most Valuable Player in a landslide. 

The loss was disastrous for Bar- 
celona, which is now winless in five 
European finals since 1984. The Span- 
ish team’s beleaguered coach. Aito Gar- 
cia Reneses, was facing yet more crit- 
icism for many of his substitutions, but 
the fact is that his two best scorers, 
Aleksandar Djordjevic (6 points) and 
Art uras Kamisovas (14 points), were 
outscored 26-20 by Rivers. After a 
start, Kamisovas was shut 


Barcelona was outre bounded, 39-27, 
and shot 14free throws to Olympiakos’s 
41, the latter statistic implying that the 
loser had been victimized by referees 
for the second straight year. 

Last year, Panathinaifcos became the 
first Greek club to win the European 
championship when the officials ig- 
nored a case of goaltending against Bar- 
celona in the final seconds. But this 
year, the discrepancy in the calls more 
or less mimicked Olympiakos’s superi- 
ority in size, strength and, above all. 
organization. 

When the Greek champions calmed 
down and began the second half by 
feeding center Dragan Tariac (11 
points. 14 rebounds, 3 blocks), there 
was no stopping them. Barcelona went 
scoreless for almost four minutes as its 
halftime deficit of two points ballooned 
to 39-29. In the last 10 minutes. 
Olympiakos maintained a two-digit 
lead and was beating the Catalans in all 
phases. 


when his job is to feed the Olympiakos 
fleet of big men. Hie implication is 
scorned by those who know Rivers as a 
player formed by such pressures. 

Rivers was a rare four-year starter at 
Notre Dame, one of the few American 
colleges with a national following. In 
the summer before his junior season, he 
was thrown through the windshield in a 
car accident that almost killed him. He 
didn’t miss a game that season, despite 
playing well below his normal weight. 


Oyer the years he competed in four 
i NBA Finals — 


appears to be headed for a summer 
to'out with the New York Knicks, and 
by Dimitris Papanikolaou. the 26-year- 
old future star who was probably the 
best sixth man of the Final Four. 


N OT THAT it was always so one- 
sided. With one most valuable 
exception, Olympiakos seemed 
to be overwhelmed in the opening 
minutes. Short passes went uncaught; 
the easiest fast-break lay-up was missed 
as if shot from a carman. This was 
Pjordjevic's chance to seize the rhythm, 
to make the game his. But he was 
hobbled by an apparent knee strain as 
well as by Rivers’s defense. 

Djordje vic’s midseason arrival from 
the NBA turned a losing Barcelona team 
into a EuroLeague finalist, but Barcelona 
was never going to win the final with him 
shooting 2 for 11 from the field. 

Before tins Final Four began, such 
numbers were anticipated of Rivers by 
more than a few Greek experts. Since 
coming to Greece last season. Rivers 
has been accused of being skittish under 
pressure, of trying to score too much 


NCAA Tournaments, an J 
as a rookie for the LA. Lakers after 
Magic Johnson had been injured — and 
be has won championships in the Con- 
tinental Basketball Association, France 
and last year in Greece. 

“Championships are championships 
— it doesn't matter where you’re play- 
ing or at what level, there is always great 
pressure to win,” said Rivers, 32, who 
will be a free agent next month. “I play 
the game to von championships. Next 
year, wherever I am, I will set my sights 
on makin g it to the Final Four and 
winning this again.” 

Much more surprising than Rivers's 
performance was the amount of free- 
dom he was given to run the team as he 
saw fit. Rivers’s coach, Dusan Ivkovic, 
is a Serb who extended to nine the streak 


of European Championships won by 
coaches from the former rug 


Jugoslavia. 


They are not kno wn to have ^peci^y 


good relationships with NBA- 
piayers like Rivers, who was the only 
American — indeed, the only black 
player — on either team. 

But the two had much in common this 
season. As much as Rivers was criticized 
— rumored all season to be on his way 
out at Olympiakos — the criticism has 
been worse for Ivkovic in his first year as 
the replacement for Yannis Ioannidis, 
the Greek coach who was beloved by the 
Olympiakos fans for his fighting spirit. 



sir 




cil 






9*1 




>*a A I 


Oevd JaUnMgoHi 

David Rivers celebrating Olympiakos’s victory over Barcelona in the 
EuroLeague final. Rivers was voted the game’s Most Valuable Player.' 


At this stage of the game, however, 
the players don’t need any more riling 
up. Ivkovic was able to' calm them 
down, and ultimately he was secure 
enough to form a kind of partnership 
with Rivers. 


Of course, you didn’t need to knoi£ 
any of that to realize what was ar stake,, 
given the presence of 5,000 highly vocaf i 
Greek fans. By the end they were shout-* : 
mg two names over and oven “Dusan/* 1 ' 
and “Reavers. ’ r •* 


.fgOARB 





PSG Loses the Match, 
But Advances to Final 


Brawling Liverpool Makes It a Wild Night 


By Peter Berlin 

International Herald Tribune 


LIVERPOOL — It was clear that this 
was going to be a wild night of soccer 
when, 30 seconds after kickoff, Liv- 
erpool's veteran center half Mark 
Wright shouted and gestured to two 
teammates who were out of position. 

The formation he was trying to ex- 
plain to Stig Inge Bjomebye and Jason 
McAteer was the traditional English flat 
back four. 

Normally, top professionals playing 
for big clubs do not take die field for a 


wing-backs, had reverted to an , 
back four for. fee. first time since. 11 
Which is why Bjomebye and McAteet 
were so confused. 

Evans recalled die abrasive Neil Rud- 
dock, who spent die evening biffing the 
ball ixpfiekl where, for fee fust time tide 
season, Evans was starting all three of 
his star strikers — Stan Colleymoifey 
Patrik Berger and Robbie Fowler. “ 
Liverpool’s commitment to the 


strategy of whacking the ball forward 
with all chasing it provided PSG wife 


European, semifinal unsure of what po- 
sition they are playing. But Thursday 


Thi Cup Winnbii Cup 


IWkrmUl/nrum 


PSG’s Patrice Loko leaping for the ball between Liverpool’s Neil Ruddock, left, and Mark Wright 


was not a normal night for Liverpool. 
Two weeks earlier, in Paris, it had 
floated like a butterfly and stung. like 
one too, losing 3-0 to Paris- St. Germain. 
Far the return match, it came out 
swinging. 

But a funny thing happened: PSG 
showed a surprising appetite for brawl- 
ing, and at (he end of the evening, it was 
the French team that was still standing. 
PSG lost a helter-skelter match, 2-0, to 
win, 3-2, on aggregate. The French team 
will meet Barcelona on May 14 in Rot- 
terdam for the Cup Winners Cup final. 
“We warned to get the ball 


litres to counterattack swiftly i 
Loko broke free and shot wide? 
Then the ball struck bis heel as he was 
about to break clear again. But in the 
22th minute, everything changed. 

David James, the Liverpool goal- 
keeper, humped a high, hanging ball 
forward. After a prolonged wrestle with 
Bruno N'Gotty, the PSG center-back, 
Colleymore flicked die ball to Fowler 
who scored with a sublime shot. 

Liv 

and PSG suddenly decided to abandon its 
attempts at controlled soccer in favor of 



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If 


cer 


Jazz Use Clippers for a Playoff Exercise, 106-86 



research is correct and soc- 
suffer brain damage from 
ig the ball and the clashes of heads 
that often come with it, then players on 
both teams sacrificed a great many brain 
cells Thursday. N'Gotty in particular, 
refused to back down in his long battle 



By Chris Baker 

The Los Angeles Times 


SALT LAKE CITY — The Los 
Angeles Clippers received a warm wel- 
come from the Delta Center fans when 
they ran onto the court to open their 
first-round NBA playoff series against 
the Utah Jazz. 

“Welcome Clippers!" a sign read. 
“We need the practice for round two.” 
The Jazz, which has won 14 con- 
secutive regular-season games against 


lando's Penny Hardaway, who was 6 for 
16 and scored 13 points. Teammate 
Derek Strong had 15 points. 

Knicks 109, Hornets 99 John Starks, 
who was presented with this year's 
NBA Sixth Man Award before the 
game, put host New York, ahead for 
good with one of the Knicks’ five 3- 
pointers in the fourth quarter. 

Allan Houston, the player Statics lost 
his starting job to at the start of this 
season, added three 3-pointers and 
scored 13 of his 25 points in the final 


away 

because players get a little i 
If quality means pretty passing in 
midfield to no purpose, then Liverpool 
had offered plenty in Paris, while never 
really threatkiing to score. 

On Thursday, John Barnes, a last link 
with Liverpool's glory years, was 


with the shaven head of Colleymore. - 
It was rarely a dirty game, but ijf- 
wasn’t elegant. At the end. Ruddock did 

imrtiia a HiviA -» T ■ 1 _ 


Michael Thomas, 
sidekick, Jamie 
have a shot of 


scutmng 
Barnes’s midfield 
seemed to 
. Bur then 


revive a tune-honored Liverpool tra- 
dition: If all else fails, whack your op- 
ponents a few times to see if that puts 
diem off. One forearm slam on Bernard 
Lama, the PSG goalkeeper who was 
catching the ball in midair, was par- 
ticularly noteworthy. 

Liverpool’s attacks were ceaseless 
and enthusiastic, but uncoordinated. 
Berger and Colleymore, in 

IhiIpbJ r . 


!J 





the Clippers, then easily disposed of 
them, 106-86, Thursday night before a 
sellout crowd of 19,91 1. 

AH-Star forward Karl Malone, who 
hopes to deliver the Jazz its first NBA 
championship, had 27 points and 10 
rebounds in 40 minutes. 

With the crowd chanting "MVP. 
MVP, MVP,” Malone, who’s likely to 
finish second to Michael Jordan in the 
Most Valuable Player balloting, made 
2 3 of 2 7 shots as the Jazz took a 1-0 lead 
in the best-of-five series. 

In other games. The Associated Press 
reported: 

Heat 99, Magic 64 In the first playoff 
game between Florida’s two NBA 
teams, Miami raced to a 25-poini first- 


blowing a 13 -point halftime lead. 
Starks and Houston led five Knicks in 


Liverpool wasn't too worried about the 
midfield. It didn’t plan to play any soc- 
cer there. 

Evans, the English manager most 
dedicated to the continental defensive 
formation of three center-hacks and two 


linked badly. Liverpool 

“way f} 1 gening and finally scored again 


wth 11 minutes left when Wright, un- 
challenged, headed in from a comer. But 

mat was as close as the Reds came. PSG 

showed that, under its sometimes effete 
exterior, lies a rock-hard toughn es s. 


double figures on a night when Patrick 
'15. Larry Johnson 


Ewing scored only i 
had 2) points, includ: 


ing 17 in the first 
half, Starks had 19 and Chris Childs 14. 


Fans Mar Barcelona: Victory 


quarter lead and went on to rout visiting 


NjiiIIihfWV^ 


Larrv Johnson of the Knicks screaming with pleasure after a N.Y. rally. 


rlando, which tied an NBA record for 
fewest points scored in a playoff game. 

Voshon Lenard outscored Orlando, 
12-20, m die first period and finished 
with 24 points, including .six 3-pointers. 
The Magic made just 26 of 85 shots, a 
season-low 30.6 percent. 

Four players took turns guarding Or- 


Vlade Divac had 27 points for Char- 
lotte and Anthony Mason added 12 
points. 13 rebounds and 5 assists. 

Rockets 112, TIiiibcrwolvM 95 Matt 
Maloney and Mario Elie took up the 
scoring slack for Houston’s big three in 
the first half, and the host Rockets went 
on to spoil Minnesota's playoff debut. 

While Charles Barkley (10 points), 
Clyde Drexler (4) and Hakeem Olaju- 
won (8) combined for only 22 points in 
the first half, Maloney and Elie totaled 
25 as the Rockets took a 61-48 lead. _ 

Maloney was 4 of 5 from 3-point 
range in the first half, when he scored 12 
of his 14 points. Elie scored 13 of his 
team-high 2 1 points in the first half. Both 
players finished 4 of 7 from long range. 

Barkley finished with 15 points and 
1 1 rebounds for the Rockets. 

Rookie Stephen Marbuiy led the 
Timberwdves with 26 pointsand Kevin 
Garnett added 21. ... 


Usurers 

FLORENCE — Unruly fans maned 
Barcelona's victory over Fiorentina, a 
triumph that gave the Spanish team a 
berth in the Cup Winners Cup final 
against Paris-SL Germain. 


Two Spanish players were hit by ob- 
jects thrown from the stands 


Florentine's dreams — and Italy’s 
hopes of having three finalists in the 
three club competitions — fell by fee 
wayside Thursday night 
Barcelona’s English coach, Bobby 

Robson, said he was hit on the head by a 

plastic bottle. A Barcelona defender. 
Seigi Baijuan, received brief medical 
assistance, in the 36th minute after being 
hit with what appeared to be a coin. 

On at least two occasions, fee Swedish 

referee Anders Frisk consulted a Euro- 
pean soccer federation official on the 
touchline to discuss the fans’ behavior. 

Both teams finished with 10 men. as 
Florentine's Brazilian-bom striker, Luis 


W 

Oliveira, was sou off in the 48th minute 

MioSS ! eC0I l < lr b S 0 . 1 “ ble offense ^ 

Na ^ of Barcelona was 
shown the red card in fee 83 d. 

the L disn ^tive fans. Rob- 
son said. I thought at one time feat if it 

nwrh°!^ nf would fee 

Sifef what would happen to 

JJ Claudio Ranieri, 

S t V^S,°n mt0 something worse! 

we cannot condone fee crowd’s 

^i V '-Bu^ C ^Sf UnaCceptable -' ' •“ 
_pw « fee referee had kent the- 

gme flowing it would have bee? fefr 

t 

ad^ce ^tofee final! . 3 «J%n 




*«£'v - -• ■: 


N 

$ 

% 

;'H ; 

- * ■ 

• r i . *4: 

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ttte 


‘ 



INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUTTOAY. APRIL 26-27, 1997 


PAGE 19 


SPORTS 



To Be Going to 





■ c °tfr 


-■r?a 


H^trk 


'.;z 


“• CmpBtdtyQwSufFnmDbpuelKS'-- 

'-MONTREAL — Mark this date 
clown. The Montreal Canadiens are no 
longer without a playoff victory ai 
Slolson Genoa:. Seeking to become only 
the third ream to s weep the Canadtens in 
the playoffs. the New Jersey Devils 
j&lped thek- reeling opponents out by 
fblowing a 2-0 first-period lead instead. 
~ Then after allowing Montreal to slip 
ahead by 3-2* the Devils tiedthe game in 

NHlFiATotri 

the closing minutes of regulation, be- 
gsre. losing, 4-3, oh a goal by Patrice 
Brisebois in the third overtime early 
Friday morning. 

- Game 5 is to be played in New Jersey 
on Saturday , with the Devib leading the 
series, 3 games to 2. 

• Brisebois beat Martin Brodeur witha 
backhand shot at 7 minutes 37 seconds 
of the third extra session. The goal came 
after Jose Theodore, the 20-year-old 
rookie goaltender, had made his 56th 
save of die night, knocking away Shawn 
Chambers’s blast. Theodore was mak- 
ing the first playoff appearance of his 
K; career. 

1 - Avataneh* 7, Btaekhawlu O Patrick 
Boy set an NHL record with his 89th 
career playoff victory, and Valeri Ka- 
mensky broke a postseason scoring 
slump with three goals as host Colorado 
routed Chicago, 7-0, to take a 3-2 lead in 
die Western Conference series. 

Coyotes 3, - Mighty Hacks 2 Bob 
Corkum, a center on the original Mighty 
Ducks four years ago, had a goal and 
two assists to lead visiting Phoenix to 
victory and a 3-2 lead in the Western 
iJ- y. “fereoce quarterfinal. ('ATT, AP) 



Great Danes of Cycling 

Riis and Sorensen Pedal Separate Ways 


By Samuel Abt 

International Herat J Tribune 


Cal Ripken of tbeOrioles, making the transition to third base from shortstop, shows how to snag a line drive. 

Athletics Up, Down and Finally Up 


The Associated Press - - 

Rick Aguilera gave up a pair of nixnh- 
inning homers, then threw a wild pitch 
to ter the winning run score in the 1 Hfc as 
the Oakland' Athletics beat the Min- 
nesota Twins, 12-11. 

Oakland led 6-0 after two innings and 
8-2 entering the seventh in their game 
Thursday night. But Terry Stembach’s 


three-run homer against hisformer team 
highlighted a seven-run eighth as vis- 
iting Minnesota took an 11-8 lead. 

Brent Mayne hit a solo homer in the 
ninth off Aguilera (1-1), and Matt Stairs 
hit a two-run drive. 

fUngora 4, Tigers 2 In Arlington, 
Texas, Ivan Rodriguez broke a 2-2 tie in 
the seventh with a two-run double, and 
Roger Pavlik (2-2) rebounded from two 
bad starts. 


Pavlik gave up six hits in seven in- 
nings with seven strikeouts and no 
walks, lowering his earned run average 
to 8.10, from 12.10. 

bid! ans 6, Browers 3 Brian Giles and 
Tony Fernandez hit two-run homers as 
Cleveland sent host Milwaukee to its 
fifth consecutive loss. 

Charles Nagy (3-1) allowed three 
runs — two earned — and eight hits in 
six-plus innings, struck out eight and 
walked three. Jose Mesa got the save, 
even though he allowed the Brewers to 
load die bases with two outs in the ninth 
before retiring Mark Loretta on apopout 
to second. 

Rad Sox 2 , Orioles 1 Nomar Gar- 
ciapaira homered with two outs in the 
12tb innir 


a inning off Terry Mathews (0-1). 

“ • ik(3-4‘ ' ^ 

igRa 

before Chris Hailes started the eighth 
with a homer off Jim Corsi. Butch 


Rick Triicek (3-4) pitched 1 x h innings 
for the visiting Red Sox, who led, l-O, 


Henry got two outs for his fourth save. 

It was the second straight extra-in- 
ning game for the Orioles, who valiantly 
erased a seven-run deficit in a 1 0-inning 
loss to Chicago on Wednesday. 

In the National League: 

Pintos 4, Cubs 3 Jason Kendall 
scored from second on a throwing error 
by shortstop Rey Sanchez as Mel Rojas 
blew his first save chance for Chicago, 
allowing Pittsburgh to rally for a vic- 
tory* 

The Cubs, who at 2-17 have the worst 
record in the majors, have lost nine 
straight home games, including last sea- 
son. 

Kendall's double off Rojas (0-1) tied 
the score, and Jose Guillen singled to 
Sanchez, who threw the ball past first 
for the Cubs* major league-leading 27th 
error. 

Rich Loiselle (1-0) pitched two in- 
nings to get the vicrory. 


PARIS — City mouse and country 
mouse do have some things in common. 
They are both Danes in their early 30s. 
they both race bicycles for a living and 
they are both at the top of their sport. So 
what if they don't overwhelmingly like 
each other? 

Country mouse is Bjame Riis, a 9-to- 
5 kind of guy. definitely a brownb agger, 
who rode in the service of others for 
nearly a decade and rarely won a race 
himself. At age 32 last year, he bloomed 
as the leader of the Telekom team in 
Germany and won the Tour de France in 
dominating style, taking the leader's 
yellow jersey halfway through the race 
and holding it without problem. 

When he retires in a few years, Riis 
will surely return to his hometown of 
Heming (population 57,000) in western 
Denmark, open a bicycle shop and 
coach youngsters, just like his father. 

City mouse is Rolf Sorensen, 32. who 
has been a star all this decade, winning 
such vaunted races as Paris-Tours in 

1990. Liege-Bastogne-Liege in 1993, 
Tirreno-Adnarico in 1987 and 1992 and 
Paris-Brussels in 1 992 and 1994. Back in 

1991. when Riis was laboring as a do- 
niestique, or servant, in the pack, 
Sorensen wore the yellow jersey in the 
Tour for four days until he crashed, broke 
a collarbone and had to withdraw. 

He is as articulate and outgoing as 
Riis is shy. Their fan clubs, Danish 
journalists say. are entirely different: 
Sorensen’s tends more to the country- 
club set, Riis's to the blue collar. They 
have been rivals since they both turned 
professional in 1986. and each accused 
the other of costing him victory in the 
1994 world championship roadrace by 
not sacrificing his own chances. 


Sorensen comes from Copenhagen, 
die capital, and a city more than 20 times 
bigger than Heming. Since his faiher is 
an industrialist, he grew up rich and long 
had a reputation as a playboy, which, in 
this sport, meant little more than he 
dated women and drove a sports car. 
Then, in the middle of the decade, his 
victories turned sparse. 

Now Sorensen is winning again. He 
was first in a daily stage in the last Tour 
de France and might have won two 
stages if Riis had eased off and not led the 
charge that overtook Sorensen in the 
final kilometer into Gap. He took the 
silver medaJ in the road race at the 
Olympic Games in Atlanta, won the Tour 
of Flanders earlier this month and is tied 
for the overall lead in the World Cup. 

That series of one-day classics con- 
tinues Saturday with the Amstel Gold 
Race in the Netherlands before adjourn- 
ing until August. Sorensen said that he 
hoped to do well in the Amstel as a 
stepping-stone to overall victory in the 
World Cup. "This is always my pan of 
the season," he said. "Now and nor- 
mally in the autumn." 

That leaves only the summer as a hole 
in his form, but the summer is Tour de 
France time, a time, as Riis well knows, 
when victory makes a career. So Riis is 
not among the leaders in the springtime 
World Cup races; he is riding now as 
preparation for a peak in July. 

What does Sorensen think of Riis's 
possibility of repeating his victory in the 
Tour de France? “If he rides like he did 
last year" — a stage victory in the Alps 
and another in the Pyrenees, a second 
place in the daylong showdown into 
Pamplona, second and fourth places in 
the two time trials, a total display of 
power — “he should have a chance." 

City mouse looked pleased with his 
mild putdown of country' mouse. 


Scoreboard 

bliiaiMB 


NBA Playoffs 


- ir&t 


.1. < 
IV > » 


(BEBT-OT-BEVEH) 

THURStUTS RESULTS 

OHStoM 23 23 29 24-99 

' 39 29 16 34-109 

CdMvocll-186627, Rice 9-172-2221 H-Yu 
Houston 1007 1-1 25. Johnson 3-13 2 2 20. 
Rebounds— Chuffette 43 (Mason 131, New 
York 35 (Ewhig 9). Antals— Chariot* 21 
(Mason SL New YWt 30 ttMkfi M. 

Orlando U 20 17 17- 64 

Miami 35 14 34 26- 99 

0: Strang 6-14 W 1& PJtoniawoy 6-16 0-3 
ISM: UmardB-13M 34, Mofede 6120-0 1£ 
Resounds— Orlando 58 (Anderson 12, 
Miami 59 (Brawn m Andris— Oriando 10 
IP-Hantaway 2, Miami 27 (T-Hrartaway 
11 ). 

MbMSOta 21 23 17 36— 95 

Houston 31 JO ST 34-172 

M: Mattery 10-194-428, GamettTO-21 00 
ZliH: Elie 7-133-3 21. Ota|in*on 7-134618. 
Reb ounds— Minnesota 40 (Garnett 9), Hote- 
tan 68 (Witte 13). Assists— M, 20 (Garnett, 
GogBotto. Mattery 4), H.2B (Danders). 

L-A- cuppers 34 24 28 18-86 

Utah 31 23 16 26—106 

. L^Vdu5M9-lS3-22V Outlaw 54 Wli. 
U: NVcdono 13-27 1-6 27, RUSMU 6-8 3-4 16- 
B ebo o pd f Lae Angeles 42 (Vaught 11), 
Utah 53 (Motor* 10). AnUtr-LA.15 tSealy, 
Dairy, Richardson 3), Utah 30 (Stockton 17). 

■ European Final Fouw 

TUnSOAY, M ROME - 

■V nuu. 

'otymptatas, Greece, 73 Barcelona Spain, 58 
ID PLACE 

LjuMJanrv Slow* BA vmotarm. France 79 


BASEBALL 


Major Luaue Standi nos 


Boston 

11 

9 

350 

2- 

Toronto 

9' 

"9 

J00 

2 

New Yorir 

10 

n 

.476 

3Y, 

Detroit 

» 

. 13 

.409 

5 


CSNTRAL HVTBXNT 



Minnesota 

' 11 

10 

-524 



Cleveland 

10 

10 

300 

'A 

MRwaukBe 

8 

9 

.471 

1 

Kansas Oly 

8 

ID 

JU4 

1W 

Chicago 

6 

14 

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WEBTORWM 



Seattle 

13 

8 

. A19 

— 

Tent 

10 

.8 

.556 

1W 

Oakland 

11 

10 

.524 

2 

Anaheim 

9 

10 

.474 

3 

MATMMIAL UAMM 



EAST DtVmON 




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L 

Pet 

GB 

Attoata 

. 14 

5 

737 

— 

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10 

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Montreal 

9 

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New York 

8 

12 

.400 

6V* 

PMortetaNa 

6 

13 

316 

8 

CENTRAL (RVISiON 



Houston 

13 

7 

.650 

mm 

Ptosburgh 

10 

9 

326 

216 

St Laois 

7 

12 

368 

sn 

ttodrinatf : 

6 

14 

300' ' 

7 ‘ 

Chicago 

2 

17 

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WEsrWVMON 



San Frondsco 14 

4 

J78 

— 

□otonxto 

73 

5 

J22 

7 

U» Angeles 

. n 

7 

411 

3 

San Diego 

9 

9 

600 

5 


(10), B. Henry (12 and Hnsetinorc 
KamJantedO, Rhodes 03). TeJJIcdhem (12 
and Horinx W-TriJ cefcj*. L-TeMothms. 
0-1. HRs— Boston, Gordapana ML 
Batifreare, Halles (3). 

Ctemhmd 021 818 002-6 14 1 

Milwaukee BOO Dll 180-3 11 2 

Nagy, KJtoe (7>. Ptonk (E0,M8jn (9) and 5. 
Alomar EMred, VMane (7). Ftarie (7), 
Miranda (W, Wfckman (2 and Matheny, Le- 
vts m. W— Nagy, 3~1. L— Stored, 2-2. 
HRs-anrahmd, T.Femandtt (1), GBes (3). 
NATIONAL LEAOUC 

Pittsburgh 100 880 102-4 6 0 

Chicago BIO 690 280-3 7 2 

FjContow. Granger Oh M. WBfctns (7), 
Lotsrte (8) and Kendall; Tractrsel Patierson 
(8). Rojos (Bond Houston, w—udsefle.1 -a 
L— Rojos, 0-1. 

. JAHtNEM LBAOUW 
OMM U IW 



W 

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J389 

73 

Hanshln 

7 

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Yokohama 

6 

12 

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333 

83 


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EASTOMSION 
W L 

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wwmriuwmom 

ASmSCAHLEAlWE 

DO ter 080 MB 000-2 6 0 

Tew 000 001 3001—4 11 0 

Ju.THotnp5oa Sager O), M. Myere O). 
IbJones (7) and Casanova; PavOK, 
PaHenon 00. WetMand (9) and I. 
Roddgun. W-PovOk, 2-2. 
L—Ju. Thompson, 1-2. Sv>— WetKrtand (5). 
HRr—Dottottr 'Fryman (4). 

BMnosato Ml otp 270- 00-U 21 0 
Oaktand 330 200 OU 01—12 19 0 
01 lmdafls):FJ4oclitowH, SWbidM QL. 
Gocrtado (7), Otson (8), Naolty (W, AguHera 
W apd Gu Myers, Stetabach (7);Teigba(ler, 
Gmoa (7), iLLmift (7), 7to|tor(8>, Utongnf 
W and Mayne. W-Wongea 1-2. 
L-AguDera, 1-1. HRs— Minnesota 
Stunted) O), Knoblauch (2). Oakland, 
Stairs O), Mayne (I). 

100 090 001-2 9 0 
000 010 000-1 5 1 
H am mond. Coni (7), Stocumb 0A, Ttflcek 


nmiriBiMus 

Yaku85, Hanshln 2 
Hiroshima A YomJurt 1 

YakoteAto 7, QwnlcN 6 

MCnCUAMI 



W 

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371 

— 

Seflxi 

9 

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13 

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Ortxa KMetau 1 
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Nippon Ham 7, Sdbu 2 


HOCKEY 


NHL PUYOFFO 


GB Btmasore 000 


NaarJaney 


0 1 0 

1 2 0 


0- 3 

1— 4 


First Period: Nj.-W6dermayerl (GHmour, 
Chambers) (pp). 2. NJ.-EBas 2 (MacLeon) 
Sacate Pertact M Rncrtit 1 Third Perkitfc A1- 

Stevenson 1,& M-RsccH 4 (BnmeLKnlvu) 4 

NJ^OddUnl CEBas). Flnt Owerttme: None. 
Second Overtime None ThM Overtime 7, 
M-Brtsebotel (Katvu, Brunet) Shots on goat 
N 4-4-13-8-13-7— K. M- 7-12-6-5-8- 
3—41. CaateK NJ.-Bfodeur. M-Tteodore. 

(Now Jerttf leads scries 3-1> 
Chtcaga 0 0 0-0 

Cntamdo 3 2 2-7 

Rist Period: Cokrado-Lemieux 4 

(Rmberg, Kamensky) (pp). 2, Cakradtt- 
Keane3(Ybiih RkxO i Cotorodo-, Kamonslcy 
1 (SrddG Fotsberg) (pp). Second Period: 
CDfomdo-Komensky 2 (SoUd (ppL 5. 
Colorado- Ktemm 1 (Forsberg, LemteuK) TMrd 
Porte d: Cotarado-Kamensky 3 (Ozalnsh, 
Forte) (pp). 7, Cotorado-JOnes 3 (Soklc, 
AMU tart (pp). Staab oa gate Chicago- 6-11- 

8- 25. Cokrada- 14-7-14-35. Goalee 
Ctilaipo-Hockett, Tenori. COtaredo-Rny. 

(Colorado leads sertas 1-3) 

PteeU* . . .12 3—5. 

Aaohebn 1 e i— 2 

first Period; Phoenix. Tkochulr * {Jannnr, 
Drake) i A-Setanne 4 (TiebU, Kolya) 
Seamd Period: Phoenix, Roentak 2 
(ShannorvCarftum) 4 Phoenbt Nummtnen 3 
(Gartner, Corkum) Third Period: A-5etnnne5 
(Datoneautt Mfranavj (pp). 6, Phoenix, 
Cartwm 2 (RoenldU 7, Phoenb, Tkadiuk 5 
(Nummtnen) (en)- Shots rai goot Phoenix 5- 

9- 10— 24. A- 10-11-11 — 3Z Goalies: Ptroenhc 
KhaWbuHn. A- Hebert. 

(Ptentx toads cartes 340 


CPP UmOHMUH CPP 

SESUnNALO, RETURN LCQ 
UmrpoM England, Z Ports-St. Gernoin, 
France. 0 

Parts- Si. Gennain advances an 3-2 aggre- 
gate. 

FtortenMna, Italy, 0, Barcelona Spain, 2 
BarcMana Mvances «w 3-1 aggregate, 
to final, May 14at Rotterdarii, Netaertesuis, 
Ports-St Gennain plays Barcelona. 

IH9U8H WMWB LIAOBl 

Tottenham 1, Mkkflesbrauah 0 


tnsaxmsi Manchester Untied 69; Ar- 
senal 65,- Liverpool 64; Newoastle 6ft Asian 
VDiaSO; Storffteto We<toesdflV5<S.- Chetseo 55; 
Wimbledon Tottenham Uu Leeds 44; Ev 
erton 4% Derby 43: Btockbuni 41; Leicester 
40j Southampton 38c West Ham 3&- Coventry 
38; Sunderiand 37) MidtBesbrough 3 a- Not- 
tingham Forest 33. 

UBTntHATTMUU. WOMEN FRHHDLY 

Untied States 4 France 2 


CRICKET 


IWUtttUI 
SO-OVER BENEHT IIXTCM 
UWI VtCE-CHANCELLOfTtt XI V*. MOW 
TUnsDAY. (N PORT OF SPAM. UK Hi DAD 
University of West Indes' Vtoe-Chancceor's 
Xh 242 a Bout 
Indio: 274 for sh 
India won by 32 runs. 


RUGBY LEAGUE 


MMI LIAMM MMBT UUUKM TOCT 
FMDAV, M STONEV 
Australian. New Zealand 22 


TENNIS 


BUDAmuUUUOMN 

FW11AY, IN BUDAPEST 
QUARTERFINALS 

Amanda Conzer (2), South AMca def. Ele- 
na Wagner, Germany, 6-1. 6-7 (9-11). 6-2. 

Kortna Habsodova CD. SkwaMa. def. 
Atewidni FUsal (8J, France. 6 - 4 . v4. 

Sabine Appeknons (4), Belgium, dot. 
Crtstlno Tormns Vdenv Spabv 6-4,64. 

Henrteta Nagyova (7), Slovakia def. Joan- 
nette Kni gar, South Africa. 44, 6 - 4 , 63. 
DAOUUHOM WOfHSM'S OPEN 
FRIDAY. M JAKARTA. INDONESIA 
OUAIITEHnNAU 

Yuka Yoshieb, Japan, def. Wang Shi- ting. 
Taiwan, 64 3-2 (mi); Alexia Dectwume- 
Baderefc France, def. Urn Eun-ha. South K6 
rea, 6-4,62. 

Rita Grande, Italy, def. Nancy Feber, Bel- 
gium, walkover; Naako Savamatsis Japan, 
def. Nana MtyagL Japan, 7-5, 61. 


MOtm CARLO OPIM 

FRBAV. IN IfONTE CARLO, MONACO 
QUARTERFINALS 

Alex Comtia Cl 2). Spain def. Christian Ruud, 
Naraav, 62. 60; Fabcice Santora France, 
def. Cartas Casn. Spain. 61 7-5. 

Cartas Moya (6). Spain, def. Richard Kralksk 
U), Netherlands. !-& 62, 6« Maiceta Rte 
(7),QiBe. def. Magnus Latsson.5we.61 61. 


TRANSITIONS 


MfOAU 

MAJOR LEAGUE BASEBALL 

AMERICAN LEAGUE 

SEATTLE— Put LHP Ttot Davts on 15-day 
disabled 

list. Recalled RHP Derek Lowe ham Tac6 
maPCL. 

NATIONAL LEAGUE 

PHILADELPHIA— Sent INF-OF Rex Hutfler 
to Reading. EL, on rehabOlratton assign- 
ment. 

MMBTMU 

USA BASKETBALL 

USAS— Named VanderbUTs Jim Foster 
coach of womerrs Work! Unfcenjry Games 
team and N.C Charlotte coach Ed Baldwin 
and Kansas State coach Deb Patterson as- 
sistant coaches. 


NATIONAL FOOTBALL LEAGUE 
Baltimore — A greed to terms with DT 
Tarry Slragusa. 

OAKLAND— Signed S Eric Turner to 4-year 
contract. 

MN DIEGO— Agnea to terms ertih FB Aaron 
Croveron 1 -year contract 
san fraa cisco— Signed LB Kevin 

MHchelL 

CANADIAN FOOTBALL LEAGUE 
Hamilton— Signed 0B wtiNam Bermett 
DB Malcolm Pearson. WR Daniel Adams 
and WR Kevin Fronds- 

COLLEGE 

Kansas state— A nnounced WR Andre An- 
derson has tot football team after violating 
team rales. 

okaloosa-waltdn cc— Named Brwdte 
Stewart mens wstetbou coach. 


The Week Ahead 


Saturday, Afwil 26 

noxiNCk Atlantic City — George Foreman, 
United States, vs. Lou Sava rase. Untied 
Slates, 17-raund bout tar Foreman's IrVHU 
IwavyeUKrt title. 

cricket, Port-of-Spaln, Trinldod — ftet 
one-day international. West Indies vs. India. 

crcuiw. Amsterdam, Neihertands — UCI. 
IVorW Cup, Amstel Goto Race. 

GOLF, Men; Madrid, Spain — PGA Eu- 
ropean Tour, Spanish Open, to April 27; 
Greensbora North Carolina — U-S- PGA 
Tour, Greater Greensboro Chrysler Classic, to 
April 27; Tsukute, Japan — Japan PGA, 
Kirin Open, to April 27) Us Vegas — U.S- 
Senlor PGA Tour, Las Vegas Senior Ctosslc 
io April 27. Women; Stadcbrtdpe* Georgia — 
U.S. LPGA, Cltidi-fll-A Charity ChatnpL 
onstdG to April 27; Nasu, Japan — Japan 
LPGA, Nasu Ogavra Ladles, to April 27. 

ice hockey. Helsinki, Tumu and Tampere, 
Finland — IMF, World Championships, to 
May 14. 

soccer, Various sties — World Cup quoi- 
Kytag: Namibia vs. Egypt; Singapore vs. 
Kurvaft; United Arab Embates vs. Jordan. 

TENM& Men, ATP Tours; Monte Carlo 
Opera to April 27; Orlando, Florida — US. 
Men's Clay Court Cham pi unships, to April 27. 
Women. WTA Tarns: Jakarta. Indonesia — 
Danaman Opera to April 27; Budapest Hun- 
gary — Budapest Lotfes Opera to April 27. 

table tennis. Manchester, England — 
1TTF, Wortd OwmplonsWpis. to May 5. 
Sunday, Ambii. 27 

athletics. Madrid, Spain — Madrid 
Marathon. 

AUTO racing, imoia Holy — F1A, Formula 
One. Grand Pits of Son Marines Nazareth 
Penreylvcnia — CART, Indy-car, Bosch 
Spark Plug Grand Pit* Talladega, Alabama 
— auto racing, NASCAR, Winston Cup. w&i- 
stonSDO. 

ducket, Porr-of-5poin, Trinidad —second 
one-day International West Indies vs. India. 

LAomssa. Tokyo — ifwla, women, 5tti . 

World Cup, to Moy 4. 

soccer. Various sires — Wortd Cup qual- 
ifying: Cambodia vs. Indonesia; Canada vs. 
Jamaica; Butkl na Faso v*. Nigeria; Kenya vs. 
Guinea; Tunisia vs. Liberia; Zambia vs. Con- 


ga; Zaire vs. South Afifca (In Lame. Togo); 
Zimbabwe vs. Angola; Cameroon vs. Toga 
Ghana vs. Gabon; Sierra Leone vs. Morocco. 

Monday, April 28 

tennis. Women, WTA Tour : BaL Croatia — 
Croatian Bal Ladtes Open, lo May 4' Ham- 
burg, Germany — Rexona Cup, to May 4. 
Men. ATP Tour Munich, Germany — BMW 
Opera to May * Atlanta, Georgia —AT and T 
Challenge, to May 4; Prague, Czech Republic 
— ATP Tour, Czech Opera to May 4. 

Tuesday, April 29 

SOCCER, SantiogoL Chile— World Cup qual- 
ifying: Chile vs. Venezuela. 

Wednesday, April 30 

cricket, Amos Vale. Si. Vincent — West 
l reties vs. India, thin] one-day International. 

soccer. Various sites — World Cup qual- 
ifying: Denmark vs. Skwcnia; Greece vs. Croa- 
tia; England vs Georgia; Italy vs. Poland; 
Norway vs. Finland; Switzerland vs. Hungary; 
Austria vs. Estonia: Sweden vs. Scotland; 
Latvia vs. Belarus; Israel vs. Cyprus; Russia 
vs. Luxembourg; Malta us. Faeroe islands; 
Yugoslavia vs. Spain; San Marino vs. Nether- 
lands,- Turkey vs. Belgium,' Liechtenstein vs. 
Lithuania; Romania vs. Ireland; Germany vs. 
Ukraine; Armenia w. Northern Ireland; 
Colombia to. Peru - Paraguay vs. Uruguay; 
Araentina vs. Ecuador. Miami — exhtbttion, 
Medea vs. Brazl. 

Tnuwspay, MayI 

golf. Mm: Brescia. Italy — European 
PGA. tWIon Open, to May 4; The Woodland* 
Texas — U.5. PGA Tour. Shell Houston Open, 
to May As Alchi, Japan — Japan PGA, aw- 
nkMCrawns Open. raMayU . Women: Day- 
tona Beach, Florida — U.S. LPGA. Sprint 
Titielwldets Championship, to May 4. 

Friday, May 2 

golf. Aten; Birmingham, Alabama— UJS. 
Senior PGA Tour. Bruno's Memorial Classic, 
to Allay 4 Women; sakolde. Japan — japan 
LPGA, KachldoU Queens, to May 4. 

tennis. Davis Cup. Eim-African Zone. 
Group 2. fm round: Norway vs. Nigeria' 
Georgia vs. Slovenia; Egypt vs. Portugal; 
Lithuania vs. Yugoslavia.- Ivory Coast vs. 
Latvia; Poland vs. Ghana; Ireland vs. Be- 
toius Finland vs. Greece. 


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PAGE 20 



DAVE BARRY 


Correct Use of Apostrophe’s 


M IAMI — It is time once again for 
"Ask Mister Language Person.” 
the only grammar column to have won 
both the Nobel Prize for Literature and 
the Indianapolis 500. 

We shall begin today by reviewing 
the correct use of the apostrophe, which 
is defined grammatically as “the little 
thing that is hard to find when you put it 
inside quotation marks.’ ' as is shown in 

this example: 

Even top professional writers have 
trouble with apo- 
strophes, as we see in 
this quotation from Wil- 
liam Shakespeare: 

"O Romeo. Romeo 
“Your lookin’ fine in 
them tight's.” 

This is incorrect, of 
course: Shakespeare has 
used the word "your” 
as a participial infraction, which re- 
quires an apostrophe, as we see in this 
corrected version: 

"O Romeo. Romeo 
“You're buttock’s are highly visible 
in them light's.” 

A lot of people have this problem, 
which is why it is important to remem- 
ber the Three Rules For When To Use 
Apostrophe’s: 

1. TO INDICATE CONTRAC- 
TIONS. 

Example: “This childbirth really 
hurt's!” 

2. DM HERPETOLOGICAL PHRASES. 
Example: "There's snake's in the 
Nut *n‘ Honey!" 

3. DM LETTERS TO CUSTOMER 
SERVICE. 

Example: “Dear Moron’s:" 

Please have these rules tattooed on 
your biceps, because Mister Language 
Person is getting tired of correcting 
people and may soon rum the whole 
matter over to the police. 

□ 

Now let’s take a look at some other 
grammar questions that have poured in 
to the Institute of Grammar Institute 
from readers ail over the world: 

Q. Has anybody ever used the word 
“penultimate'’ correctly? 

A. Not since 1949. 

Q. Recently, did your research as- 
sistant Judi Smith make a grammat- 
ically interesting statement regarding 
where her friend Vickie parks at The 
Miami Herald? 

A. Yes. She said, quote: “She comes 
and parks in whoever 's not here's space 
that day.” 

Q. Can that sentence be diagramed? 

A. Not without powerful pharma- 
ceuticals. 

Q. Can you please quote the caption 
to a newspaper photograph from The 
Associated Press, sent in by Patricia 
Lees, showing a man throwing some 
kind of whitish substance? 

A. Yes. It said: “A protester hurls 


Has anybody 
ever used the 
word ‘penultimate" 
correctly? 


yogurt in a demonstration in Belgrade 
Wednesday against the government's de- 
cision to nullify municipal elections.’ ’ 

Q. Private citizens in Belgrade are 
allowed to possess YOGURT? 

A. Yes. No wonder there’s trouble 
over there. 

Q. On Nov. 23. 1996, The Milwaukee 
Journal Sentinel ran a story, sent to you 
by Amy Mason, concerning six teen- 
agers who were charged with illegally 
shooting 30 deer. Please print the re- 
action, as primed in the 
story, of state Depart- 
ment of Natural Re- 
sources official Dave 
Zeug. 

A.Hesaid:“Ir’ssad. 
especially this close to 
the deer gun season; 
there’s at least 30 or 
more deer that are not 
available for someone’s son or daugh- 
ter." 

Q. Those poor kids! 

A. I’m sure the deer were also very 
upset about missing deer gun season. 

Q. Please quote from a 1996 As- 
sociated Press story, sent in by Richard 
Carvonius, concerning a Federal Avi- 
ation Administration decision to ground 
a charter airline for not meeting federal 
standards. 

A. The story states that “planes in the 
air were allowed to land.” 

Q. No wonder we have problems, 
what with the FAA being so soft on 
these airlines. 

A. If the Internal Revenue Service 
were in charge, this type of situation 
would be dealt with via missile. 

Q. How many letters will you get 
from people who are upset - because you 
used apostrophes incorrectly in this 
column? 

A. Hundreds. 

Q. Really? Even though it’s clear to 
anybody with an IQ above crustacean 
level that it’s a joke? 

A. Yes. We will .also receive angry 
mail from people on all sides of the 
hunting issue. 

Q. What about Barry Manilow fans? 

A. Yes. now that you've brought his 
name up. Thanks a lot 

□ 

TODAY S LANGUAGE TIP: To 
add impact to dry business reports, try to 
personalize your message for your spe- 
cific reader 

WRONG: “Market stabilization 

should ameliorate short-term growth." 

RIGHT: “Market stabilization 

should ameliorate short-term growth, 
you zit-brain.” 

□ 

GOT A QUESTION FOR MISTER 
LANGUAGE PERSON? 

He does not care. 

€>/<W The Miami Herald 

Distributed bv Tribune Media Sen-ices Inc. 


Bruce Beresford’s Hollywood Road 


By Bernard Wcinraub 

New York Times Sen-ice 

L OS ANGELES — Nearly five 
years ago Bruce Beresford heard a 
tape recording of a musical choir re- 
creating a conceit that took place in a 
Japanese prison camp for women in 
World WarU. 

“I thought. ‘This is fabulous.’" he 
said the other day. “It sent shivers up 
my spine. I thought. ‘What kinds of 
people are these that would produce 
this kind of music in a camp? ” 

As Beresford, the Australian direc- 
tor of “Breaker Morant,” “Driving 
Miss Daisy" and “Tender Mercies.” 
explored the Jirtie-known story of the 
female choir in a brutal camp in Su- 
matra. he concluded that it was a per- 
fect vehicle for a movie. 

“AH the prison camp stories I’ve 
seen, and heard, of. were about the 
heroism of men.’’ said Beresford, who 
is 56. “As I researched this and heard 
the music. I realized that women were 
heroic too. on just as grand a scale . And 
their treatment was just as appalling. 

The director’s research into incidents 
involving the women held captive by 
the Japanese in World War II led to the 
movie “Paradise Road." The film's 
cast includes Glenn Close; Frances Mc- 
Dormand. who won an Academy 
Award last month for “Fargo”; Ju- 
lianna Margulies. a star of the television 
show “EJL,” and Pauline Collins. 

Beresford said the movie, which he 
wrote and directed, was inspired by the 
real -life classical choir formed by a 
group of women, including nurses, 
nuns and wives of wealthy Australian. 
Dutch and British businessmen, in a 
Sumatran prison camp. They organized 
the choir both as a source of strength for 
the prisoners and as a symbol of de- 
fiance of their Japanese captors. 

“It wasn’t as though these women 
did a little step and sang a few popular 
folk songs.” said Beresford during 
lunch in a Beverly Hills restaurant. “I 
mean, this was a real, real achievement 
in the face of such chaos and hate." 

Beresford and Sue Milliken. the 
producer, interviewed dozens of sur- 
vivors of the Sumatran jungle camp, 
some of whom had kept their sheet 
music. One camp survivor led to an- 
other. Beresford said. 

Survivors were found in Australia. 
Britain, Holland and the United States. 
Published and unpublished diaries were 
also used as material, along with copies 
of the choir's scores that had been 
stored at the Australian War Museum in 
Canberra and at Stanford University in 
Palo Alto. California. Be re s f ord said 
the women depicted in the movie were 
based, mote or less, on real people. 

Asked about the possible reaction of 
the Japanese to the film's depiction of 
them as brutal and horrific. Beresford 
said he was only reflecting what he 



jto( GnMRrin/TbrVv York Than 

Beresford: His “Paradise Road” deals with women POWs in Sumatra. 


read in diaries and what camp sur- 
vivors told him. He said a Japanese 
adviser on the film threatened to quit if 
the script was unrealistic and took two 
weeks off to do his own research. 

“He came back two weeks later and 
put the script on my desk and said. ‘It 
makes me ashamed to be Japanese.' " 
Beresford said. “And I said, ‘It’s true,’ 
and be said. T know it’s true.' and he 
was our adviser through the entire 
movie.” 

Reviews of the film, which opened 
in the United Stales on April 1 1 . have 


been decidedly mixed, with critics 
generally applauding the acting but 
finding the movie overly sentimental. 
“In trying to keep track of everybody 
while providing enough melodrama to 
sustain an atmosphere of controlled 
terror," Stephen Holden wrote in The 
New York Times, ’Paradise Road' 
stumbles all over itself and never 
really finds its center. But it has some 
hair -raising moments." 

Beresford, who lives in Sydney with 
his wife, Virginia Duigan. another 
filmmaker, and has four children, ac- 


knowledges some bleak - turns in his 
career. Amid the big successes, like 
“Driving Miss Daisy,” have beat 
some big disappointments, like “Si- 
lent Fall.” with Richard Drcyfuss, 
and, most recently, “Last Dance,” 
with Sharon Stone and Rob Moriuw. 
His next film deals with the life of ’ 
Mustafa Kemal Ataturk, the founder : 
of modem Turkey. 

In recent years the Hollywood .stu- 
dio system. has- become far more in- 
trusive, he said, and left him quite ’ 
depressed. Beresford attributed the 
low qualify of some, films to die in- 
troduction of video editing, which en- 
ables studio executives to play a more ' 
direct role in the cutting and shaping of 
a movie. 

“In the old days — only a couple of 
years ago — you'd make a film, show 
the studio the cut, they'd look at it and . 
comment and then go away,” he said. 
"It was often useful because their' 
comments were quite spontaneous — 
they were comments that an average 
audience would make, comments like, 
‘It’s too slow there,’ or 1 dadn’tqniBe 
understand that' " 

“Now they all get videocassetres, 
they take it home and then not only run 
it back and forth as many times as they 
like," Beresford said. “They can ac- 
tually do their own little edits on ir.” 
“Before, the reaction was emotional 
and direct.” he added. “Now they're 
running h beck and forth, and it’s a 1 
nigh tmar e- One executive says, ‘Drop 
this scene: it’s garbage.’ Another one ■■ 
says, ‘Keep this scene: it’s my favor- " 
ite.’ And a third says, ‘Shorten k.’ " 

While 20th Century Fox executives 
were deeply involved in the making of 
“Paradise Road,” Beresford said the 
experience was relatively benign com- 
pared with his dealings with the Walt ' 
Disney Co. over “The Last Dance." ' 
That was “ni ghtmaris h,” he said. ■ 
“There was so much advice I couldn’t 
believe it. And they kept haranguing 
you. 

“Disney would call and they’d say,. 
‘We think you should do so-and-so.’ 1 
And I’d say. ‘O.K., you told me this 
yesterday. ' And an hour later someone . 
else would call, that afternoon some- 
one else would call, the next morning 
someone would call, all with the same- ' 
t hing . It never stopped! .4 

“Every day there were pages and 
pages, and they were doing all of then- 
cuts all the time. And a few times I just 
said .ro them. ‘Look, either m cur the 
film or you’ll cut die film, but we both 
can’t cut the film because it’ll endup a 
mess.’ " 

* ‘I mean. I've kept all die notes and 
sent them to the National Library-in’ - 
Australia," Beresford said, laughing. 
“I said: ‘I want you to keep all these 
notes. They're going to be very in- 
teresting to some historian in die fu- . 
ture.’ ” 


■f 


, Mr* 


V.-f- 





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PEOPLE 


By maintaining a far-flung network of news-gathering resources, the World's Daily 
Newspaper brings you unrivalled coverage of world politics, business and economics, 
as well as science, technology, travel, fashion, the arts and sport — all from an 
international perspective. 

Take aewaniage of this limited opportunity to fry the International Herald Tribune 
with a low cost, 2-month trial subscription and enjoy delivery to your home or office 
every morning. 


T HE estate of Ella Fitzgerald is giv- 
ing a large array of her music, ar- 
rangements and memorabilia — includ- 
ing the remains of the glass she shattered 
in the famous "Is it five or is it Mem- 
orex?” commercial — to the Smith- 
sonian Institution and the Library of 
Congress. The Smithsonian is also get- 
ting keys to a dozen cities around the 
world and a pile of honorary doctorates 
and awards. The bequest includes more 
than 2,000 photographs going back to the 
’30s, many of them autographed by the 
music and nonmusic royalty mat admired 
the First Lady of Song. The bequest also 
includes the red jacket and skirt ensemble 
made famous in Annie Liebowitz’s por- 
trait of Fitzgerald for American Express. 
Liebowitz has also donated a print 
Fitzgerald died last year at age 79. 

□ 

Two American and two Japanese sci- 
entists are the recipients of the 1997 
Japan Prize. Joseph Engel berger, a ro- 
botics expert, and Hiroyuki Yoshi- 
kawa, president of the University of 
Tokyo, jointly won the award for their 
work in establishing the robotics in- 
dustry-. Bruce Ames, a professor of bio- 
chemistry and molecular biology at the 
University of California in Berkeley, 
and Takashi Sugimura, honorary pres- 
ident of Japan’s National Cancer Cen- 
ter, were honored for their contributions 
to the understanding of the genetics of 
cancer. The award, which carries a prize 
of 50 million yen (S400.000) for each 
winner, was conferred in a ceremony 
attended by Emperor Akihito and 
Empress Michiko. The Japan Prize was 
first awarded in 1985. Three recipients 
have gone on to win a Nobel Prize. 


George Musgrave has finally fallen 
victim to his own invention — he was 
fined for parking on a yellow no-park- 


ing line 50 years after Bri- 
tain adopted his idea. “It is 
one of those ironies,” the 
pensioner said from his 
home in Eastbourne. Eng- 
land. Musgrave won a 
safety competition in 1947 
when he suggested that yel- 
low lines be painted on the 
side of roads to designate 
areas where vehicles could 
not park, and he received a 
£2 prize. And now, at the 
age of 81, the invention has 
finally caught up with him. 
‘ ‘I received the magnificent 
sum of £2 then, which I 
have now returned to the 
community with my £20 
parking fine,” he said. 

□ 

A 12-year-old boy in 
Denton, Texas, has become 
an Internet hero for sum- 
moning help for a woman 
who was seriously ill half a 
world away in Finland. At 
first, Sean Redden said, he 
couldn’t tell whether the 
"sob" and “pain" mes- 
sages flashing across his 
computer screen were real 
or part of a game in the 
Internet chat room he had 
logged onto. But he decided 
to take the mess 
actions, with helx 



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CATWALK — Tony the Tiger, the breakfast 
cereal character, laying trades in cement at 
Mann’s Chinese Theatre in Hollywood.; 


COWTHY/CURSfiNa 

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624 

310 

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GERMANY" 

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832 

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/, and his 
lp from his mother, local 
sheriffs dispatchers, international op- 
erators and Finnish paramedics, may 
have saved the woman’s life. Texas au- 
thorities have verified through Interpol 
that the whole tiling was not a hoax. 
Tarja Laitinen, a 20-year-old business 
student in Kerava, F inland , was indeed 
in serious trouble. Sean said he was 
playing a character in a chat room, a 
cyber fantasy world, when a new char- 
acter entered the room, saying, “Hello, 
help me.” The woman said she was an 
asthmatic college student in Finland 
who had stayed late in die computer lab, 
had gotten locked in and was having 
trouble breathing. She said she was get- 
ting worse by the minute and gave de- 
tails including her name and address . 1 
was too real to be a joke,” Sean said 

□ 


Three of the poets who held the title have, 
died: Robert Penn Warren, Howard 
Nemerov and Joseph Brodsky. 

□ ; 

Oasis, Britain ’stop rock band, with i 
troubled history of stateside perform 
mances, said it would give the united 
States one more chance — this time 


from N( 

^ine se Trade 




It 


might open another concert depending 
on audience reaction. The band abruptly- 
abandoned a U.S. tour last year. . ; 

□ p 

Western waters have irrigated thft 
im a gina tion of the painter David; 
Krueger for years. Now, theraging Red' 
River of the North is th re aten s to 
reclaim fouryears of his woifei ctmentl^ 
on display in the flooded North Dakota 1 
Museum ofAn in Grand Forks. The city! 
was evacuated the very day the. 
Krueger’s one-man show, “Back Wa-; 
ter,” was to come down. nature's! 


ti\. > 


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Band KmneRSfTbt Anocwed Pnu 

WISHY WASHY? — Artist Ingrid 
Bach and her sculpture <4 Viciiy- 
Waschi,” made of household pro- 
ducts. at the Frankfurt art fair. 


Four of the five surviving U.S. poets 
laureate met to read their work ana cel- 
ebrate die 60th year of what is called 
American poetry’s “Catbird Seat” 

rf*. ini. nr to come aown. "jo nature s. 

tiie job of consultant in poetry that later revenge.” Krueger said ruefiiflv “The- 

Ssa-atssass ; 

nan and one about Jatun Sacha, a South □ 

ber. Hie other laureates ion handle • v 

Mark Strand, Mona Van Duyn and ^But ite S 1 ■ ^ : 

Rita Dove. Richard Wilbur was unable father is 86 and cKii ** S ^ ere ’- ^ 6 . 
to attend, but one of his poems was read. 


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