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INTERNATIONAL 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 




The World’s Dally Newspaper 


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Paris, Wednesday, August 20 , 1997 




U.S. Weighs 
Eased Curbs 
On Cuba for 
♦Pope’s Visit 

Travel by Americans 
There in January 
5 ; May Be Permitted 





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By Steven Lee Myers 

New York Times Service 

Washington — weighing its 

aversion to Fidel Castro against its re- 
gard for Pope John Paid U, the Clinton 
administration is strongly considering 
easing restrictions on travel by Amer- 
icans to Cuba during the Pope's sched- 
uled visit there in January, officials 
say. 

The temporary easing would allow 
hundreds and perhaps thousands of 
people to go to Cuba for the Pope’s visit, 
now scheduled to last five days, starting 
Jan: 2L the officials said. 

The administration also wants to allow 
Catholic churches and charities to ship 
supplies and equipment to help Catholic 
officials in Cuba org ans the visit 

While measures being considered 
would mark a significant relaxation of 
the restrictions against Cuba, which the 
United States has maintained for more 
than three decades, the officials insisted 
that the administration was in no way 
proposing a more general lifting of the 
economic embargo, which the United 
States has tightened in recent years. 

“The secretary of state views the 
Pope’s visit as an important develop- 
ment-in bringing to the Cuban people a 
message of hope and faith and the im- 
portance of respecting human rights,’* 
James Rubin, a spokesman for 
Madeleine Albright, said Monday. 
“And therefore, out of respect for His 
Holiness, we are facilitating travel and 
die delivery of certain goods for the 
purpose of that trip.’’ 

The officials coaid not yet say exactly 
how many people would be allowed to 
saet wba&er.Cu ba wou Id accept them, 
they said the administration was 
to grant special licenses to ' 
,e groups, presumably Catholics. 
Currently, die embargo does not ban 
travel and die sending of relief supplies 
outright, but severely restricts citizens 
or even residents of the United States 
from spending money in Cuba, with few 
exemptions. 

It also requires that anyone who re- 
ceives permission to travel to Cuba do 
so by flying there from a third country, a 
mle’that the administration is also con- 
sidering easing. 

Although no final decisions have 
been made, the administration has been 
quietly reviewing the matter for months, 
working in consultation with the U.S. 
Catholic Conference in Washington and 
archdioceses from around the country. 

The archdiocese of Miami, which in- 
cludes a large population of Cuban- 
Americans, has requested permission to 

See CUBA, Page 6 



By James Flanigan 
ia Stuart Silverstein 


Bi 
ant 

Las An geies Times Service 


Organized labor in America, battered 
by decades of declining influence, 
scored a big victory with a tentative 
settlement in the Teamsters strike 
against United Parcel Service. 

However, the deal could create some 
inflationary pressures on the economy, 

NEWS ANALYSIS 

and sends a signal that management 
may not be fully able to deploy workers 
as it sees fit. 

But whether American business 
suffered a long-term defeat, and lost 
leverage in battles w ith organized labor, 
will be subject to debate. 

Leaders of the Teamsters and United 
Parcel Service reached a tentative 
agreement late Tuesday to end the 15- 
day-old nationwide strike that gave the 
union most of what it wanted. 

AfeU complement of the biggest U.S. 
package delivery company’s trademark 
brown trucks could be back on the roads 
by Wednesday, officials said. 

The labor victory was aided by a tight 
labor market and strong public support 
And the UPS situation, some experts 
argue, is atypical in that it was hard for 
the company to replace its vast number 
of highly skilled workers. In other in- 
dustries, where striking workers are 
easier to replace, management may still 
hold the upper hand, analysts say.* 

The Teamsters president, Rem Carey, 
boasted Monday night that “workers 
were on the ran, but not any more. This 
strike marks a new era.’’ 

The settlement resulted in significant 



I Dukl Akeflteaaw 

Jubilant United Parcel Service workers outside an Oakland, California, 
distribution center after hearing a radio broadcast about the accord. 


concessions to the union on the key 
issues of part-time labor and pensions. 

UPS management declined to state an 
opinion of the settlement But econ- 
omists speculated that the combination 
of having to promote part-time workers 
to full-time schedules, with pay raises 
for all workers, could set off a round of 
wage and cost pressures in the U.S. 
economy. 

“This means there will be cost pres- 
sures from the wage side that we haven’t 
seen* in this expansion,” said Lany 


Kimbell, director of the University of 
California, Los Angeles, Business Fore- 
casting Project 

Wage increases are not inflationary, 
if offset by productivity gains. 

For UPS management though, there 
is tough work ahead. The union pre- 
vailed on its key demand that UPS, 
which employs more than 100,000 part- 
time workers, upgrade thousands to 
full-time positions. 

See UPS, Page 6 


Goh’s Motives Questioned 
In Singapore Defamation Case 


Reuters 

SINGAPORE — A British lawyer 
accused Prime Minister Goh Cbok Tong 
’• of Singapore on Tuesday of using the 
- courts as a tool to get an opposition 
leader out of Parliament 

Cross-examining Mr. Goh on the 
second day of a defamation case against 
the Workers’ Party leader Joshua Je- 
yaretnam, die libel lawyer George Car- 
wan suggested to a packed High Court 
that -the action was designed to bankrupt 
Mr. Jeyaretnam. 

Bankrupts are barred from being 
members of. Parliament. 

“One wav of making a member ot 
Parliament bankrupt” he said, “is to 
use the heavy artillery of multiple ac- 
tions to obtain massive damages. Is that 
part of your strategy?” _ . 

When Mr. Goh said it was not, Mr 
Carman said, “You and your 10 polit- 
ical colleagues saw this as a method of 
t causing financial oppression on this 
f 71-year-old man because you wanted 
; r hhn out of Parliament and thougnt tne 
court would provide a convenient 
method.” , 

“No, Mr. Jeyaretnam is not a threat to 


the PAP.” Mr. Goh said, referring to his 
People's Action Party, which has led 
Singapore since it became self-govern- 
ing in 1959. 

Mr. Goh; his predecessor, Lee Kuan 
Yew, and nine other People’s Action 
leaders accused Mr. Jeyaretnam of de- 
faming them at a final rally before the 
I an, 2 elections in which the PAP won 
gl 0 f g 3 seats. Mr. Jeyaretnam told the 
rally that a fellow Workers’ Party can- 
didate had filed police reports against 
the PAP leaders accusing them of ly- 


ing- 


Tbe trial is being monitored by soch 
human rights groups as the Geneva- 
based International Commission of Jur- 
ists and Amnesty International which 
says it is concerned at reports Singapore 
has used defamation suits io limit free 

SP Tfce People’s Action leadership 
See SINGAPORE, Page 4 


AGENDA 


Good Day on Mir as Grew Plans Repairs 


The Mir space station returned to a 
stable alignment with the sun Tues- 
day as the Russian- American crew 
prepared to restart the main computer 
that failed Monday. 

Russian officials said they hoped to 
have the computer in operation by 
Wednesday, allowing two Russians 
and an American on board to move 
ahead later this week with a long- 
awaited internal spacewalk to cany 
out major repairs on the damaged 
vesseL A Russian official attributed 
some to Mir’s problems on lack of 
financing. Page 5. 


PAGE TWO 

Dr. King's Dreams and His Heirs 

THE AMERICAS Page 3. 

A Controversial U.S. Arms Decision 

IHTER NATIONAL Page 6. 

Jranian Urges 'Fresh' Foreign Policy 

Books Page 10. 

Crossword — Page 10. 

Opinion Pages 8-9. 

Sports Pages 18-19. 

■UafiUygllui 


'/w.iht.com 


Bosnian Serb Finance Minis ter Resigns 


BANJA LUKA. Bosnia-Herzego- 
vina (AFP) — The Bosnian Serb fi- 
nance minister, Ranko Travar, 
resigned Tuesday, President Biijana 
Plavsic's office announced. 

Mr. Travar, in a short statement, 
said, “I can no longer take part in 


resolving the political and constitu- 
tional crisis.” 

Mrs. Plavsic is involved in a power 
struggle with hard-liners associated 
with the wartime Bosnian Serb leader 
Radovan Karadzic. 

Earlier article. Page 5. 


North Korea Opens 
A Window to World 

Energy Project Allows Seoul 
And Others Into Stalinist State 


By Kevin Sullivan 
arid Mary Jordan 

Washington Post Service 


. . . , . rid Haiiif/lp-nr hnnr^-Pimr 

umciais ot foreign countries scrutinizing the groundbreaking blast Tuesday for a North Korean nuclear plant 

UPS Accord: A New Era for Labor? 

After Years of Loss, 

Victory for a Union 


TOKYO — North Korea on Tuesday 
broke ground on a $5 billion energy 
project that international officials hope 
will make the reclusive Stalinist nation 
more economically stable, less of a mil- 
itary threat and more engaged with the 
outside world. 

In a remote comer of North Korea’s 
east coast, more than 100 diplomats and 
officials from at least 10 nations watched 
as an explosion of fireworks, a shower of 
confetti and the roar of bulldozers 
marked the symbolic beginning of an 
internationally funded project ro build 
two nuclear power reactors that will pro- 
duce electricity for ailing North Korea. 

In a statement read on his behalf at the 
ceremony Tuesday, President Bill Clin- 
tonsaid die project was ‘ ’at the top of the 
United States’ foreign policy agenda.” 
He described the groundbreaking as “a 
major new milestone” that would sig- 
nificantly contribute to peace and sta- 
bility on the Korean Peninsula. 

The project, managed by a U.S.-ied 
consortium known as the Korean Pen- 
insula Energy Development Organiza- 
tion, has been a top priority of the gov- 
ernments in Washington, Seoul and 
Tokyo since North Korea agreed to ii in 
1994. 

Under the deal. North Korea agreed 
to suspend its efforts to build nuclear 
weapons and dismantle its existing 
graphite nuclear power reactor. In ex- 
change, North Korea will get two light- 
water nuclear reactors, whose fuel is 
much more difficult to convert to 
weapons use. Those reactors may take 
as long as 10 years to build, and in the 
meantime. North Korea will receive 
500,000 tons of feel oil each year. 

North Korea is so short of feel that 
factories throughout the country have 
shut down, and Western officials say 
North Koreans have been dismantling 
factories and trucking their machines 
and other metal across the border into 
China ro sell for scrap. 

In a speech at the site Tuesday, a 
North Korean diplomat. Ho Jong, said 
the nuclear issue was “a produci of the 
Cold War that stems from the historical 
distrust and abnormal relations” be- 
tween North Korea and the United 
States. Mr. Ho pledged that North Korea 
would continue to honor the deal to 
forge “future-oriented relations with 
the U.S. through reconciliation and co- 
operation.” 

North Korea has long resisted dealing 
directly with its rivals in the South: 
instead, it has tried to seal bilateral 
agreements with the United States, much 
to the annoyance of Seoul. Mr. Ho did 
not mention South Korea in his speech 
Ttiesday. even though South Korea is 
paying most of the cost of the reactors 
and providing most of the labor. 

See KOREA, Page 4 


9 The Dollar Iff 

N«w York 

Tuesday 6 4PX 

previous close 

DM 

1.8408 

1.8335 

Pound 

1.606 

1.6062 

Yen 

11B.1B5 

118.00 

FF 

6.1995 

6.1705 

■ 4 s,. The Dow ■ 


Tuesday tioee 

previous dose 

+114.74 

7918.10 

7803.3Q , 

1 S&P 500 m 

change 

Tuesday e 4 P.M. 

previous clo&B 

+13.52 

926 01 

912.49 


Asia Bankers 
Raise Rates 
As Currencies 
Face Attacks 


By Veiisarios Kaltoulas 

International Heral d Tribune 

TOKYO — The turmoil in the East 
Asian financial markets widened Tues- 
day as central b anks raised interest rates 
and sold dollars to defend their cur 
rencies from speculators. 

.“Concern about Asian currency val- 
ues bas broadened.” said Alex Erskine, 
regional market strategist at Citibank in 
Singapore. “We started with the Thai 
baht, but the contagion has spread 
across the region.” 

The sliding currencies pushed stock 
prices down in most of the region, con- 
trasting with a 1.5 percent rebound on 
Wall Street and strong gains in Europe, 
which rose after the U.S. and German 
central banks passed up opportunities to 
raise interest rates. (Page 12) 

With investors split over wheiher 
East Asia’s economies have bad hiccups 
or a more serious malaise, turmoil in the 
region’s financial markets is unlikely to 
pass quickly. But analysts said Asian 
central bankers were determined to re- 
store calm by late September, when the 
world's central bankers gather in Hong 
Kong for die annual meeting of the 
International Monetary Fund. 

“This is supposed to be a trophy 
meeting,” celebrating East Asia's eco- 
nomic vigor and stability, said a re- 
gional analyst who asked not to be iden- 
tified. “During the meeting the world’s 
focus will be on Asia. So it will be 
extremely humiliating if the region’s 
currency markets are in turmoil.” 

On Tuesday, however, selling by 

See MARKETS, Page 12 


An Embassy Bow in Poland 

U.S. Refuses to Compensate Site’s Ex- Owners 


By Christine Spolar 

Washinftt'n Past Service 


WARSAW — Even in a city cursed 
with a skyline of Stalinist blocks, the 
U.S. Embassy stands out as an archi- 
tectural nightmare — a glass, cement 
and aluminum hulk, circa 1960. 

But No. 29 Aleje Ujazdowskie is 
notable for more than its unfortunate 
design. In a wrangle over post-Cold War 
restitution, the U.S. government is at 
odds with a Polish family — which 
suffered in Nazi concentration camps 
and then Soviet-era purges — over who 
has proper claim to the address. 


love American people, but every- 
one I tell this story to is flabbergasted,” 
said Albert Czetwertynski, son of the 
property ’s former owner, who now 1 ives 
in Canada. “They can’t believe their 
government has acted like — well, like 
Bolsheviks.” 

In Eastern Europe, eight years after 


Interpol! Internet! Some Fret Over Rush in Roulette 

* — - i_ .j i r< , l... l e e j .j ij 



Newsstand prices 


Andorra 10.00 FF Lebanon -LI. JOOOl 

Andtes 12.50 FF Morocco ...•16 cm 

Cameroon.. .1. 600 CFA Qatar 

Egypt-- EE 5 50 bunion 12 -MFF 

France 10.00 FF Saw* 

Gabon 1.100 CFA Senegal 1 -lJOCFA 

Italy 2.800 Lire Spain....- ^ 

fray Coast. 1250 CFA Tunisia 

Jordan 1.250 JDUA.E. 

70 Q Fib U.S. MiL (Eur.) Sl ^° 


By Beth Berselli 

Uudkwc fcn Service 



WASHINGTON — It's the convenience of itthat 

da" or "S £: 

Internet 3 F^ P of thousands 8 of other gambling 

nifty graphics, * brings Am 

together in a ‘‘yirfual casino. visit 

“Ifsvery private. There are 


you win. I can just relax and concentrate on what I’m 
doing.” 

Despite a host of questions about legality and le- 
gitimacy, Internet gambling is probably a $200 mil- 
lion-a-year business, analysts say, and likely ro rop $i 
billion by the turn of the century. There are about three 
dozen sites on die World Wide Web where gamblers 
can bet real money on blackjack, craps am) the Boston 
Celtics, among others. A year ago, barely a virtual bet 
had been placed. 

Some sites are for real, paying winnings when 
winnings arc due as legitimate casinos do in the real 
world. Others, some gamblers' said, seem to be con 
operations. Either way, the growth has caught the 
attention of U.S. senators and state attorneys general, 
who are determined to beard this lion in its den. They 
portray on-line gambling as the latest cyber-bogeyman. 

X 


citing a huge potential for fraud, abuse and addiction. 

State prosecutors, notably in Missouri, have filed 
charges against a number of gambling operations, 
saying that if people in the state can risk their money 
through them, they violate state laws against gambling. 
Now, critics have banded together to introduce a bill in 
Congress to outlaw Internet gambling altogether. 

A growing number of gamblers and site operators 
are voicing dismay, saying that Internet gambling is 
entirely legal and beyond the jurisdiction of the U.S. 
government. 

“If Minnesota can make the rules for the entire 
internet, what’s ro stop China or Iraq or some other 
country?” asked Kerry Rodgers, the owner of Granite 
Gate Resorts Inc., a Las Vegas company that tried to 

See GAMBLE, Page 18 


the fall of the Berlin Wall, the U.S. 
government still holds leases for prop- 
erty that were first negotiated with 
Communist governments. 

Contracts firmly in hand, Washington 
will not budge on demands from former 
owners. In two well-publicized cases — 
one here, the other in Romania — claims 
by individuals are going nowhere. 

' To critics, this contradicts the U.S. 
government’s stance — in some other 
parts of the world — in favor of resti- 
tution of property that was appropriated 
by authoritarian regimes. For example, 
the Helms-Bunon Act seeks to punish 
anyone who profits from property in 
Cuba that was seized from pre-revo- 
lutionary owners by the government of 
Fidel Castro. 

In Poland, the intrigue began after 
World War II, when all land in bomb- 
devastaied Warsaw was deemed state- 
owned. Yet, as Polish law makes clear, 
private landowners could hold on to 
buildings still standing on land they 
formerly owned. 

Records show that the Czetwertyn- 
skis, an aristocratic family struggling in 
the new Communist Poland, did just that 
with their estate on the city’s exclusive 
Embassy Row. 

Missing some doors, chandeliers and 
crystal, the 19th-century villahad largely 
escaped Warsaw's wartime destruction. 
The Czetweitynskis made the most of it, 
renting the villa to state-run Polish Ra- 
dio. Postwar records show that the Cz- 
etwerrynskis earned thousands of dollars 
a year from the villa in the late 1940s. 

Albert Czetwertynski’s 87-year-old 
father, Stanislaw, a survivor of two 
death camps — Auschwitz and Buch- 
enwald — often advised his family 
aboui the value of the Polish Radio 
rental. 

It was, his sons remember, what kept 
See EMBASSY, Page 6 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, AUGUST 20. 1997 

PAGE TWO _ 


A Controversial Legacy' / Passing Hie Torch to q Mew Generation ^ _ 

Martin Luther King’s Heirs Seem to Be Shattering Some Dreams 


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By Kevin Sack 

AVn- York Tuna Service 

A TLANTA — For more than 25 years after the 
assassination of Dr. Martin Luther King Jr., his 
widow and four children were Atlanta s royalty. 
World leaders made pilgrimages to the Martin 
Luther King Jr. Center for Nonviolent Social Change to pay 
tribute. Presidential candidates begged for an audience, 
preferably with a photo opportunity. A reverential press 
dutifully reported official pronouncements and rarely, if 

ever, criticized. 

But now, as the family prepares to transform Dr. King s 
legacy into a financial empire and as it takes its most public 
role in vears — an extraordinary mission to prove the 
innocence of Dr. King’s convicted killer, James Earl Ray — 
its reputation has lost much of its imperial sheen. 

Both in the city where they once held court, and among 
civil-rights figures, the Kings are now routinely derided. 

“If they are the repository of King's legacy, I don’t see 
much being done to spread the message of his life and 
work,” Julian Bond, the civil-rights veteran and scholar, 
said in one typical remark. 

This change in status parallels a generational shift in the 
family's leadership from Dr. King’s widow. Coretta Scon 
King, who is 70, to her 36-year-old son, Dexter Scon King. 
After succeeding his mother as both the head of the King 
center and executor of Dr. King’s estate, Dexter King 
quickly consolidated control over the family's social 
agenda and financial affairs. 

Since then, with halting, often awkward steps, Dexter 
King has cobbled together a vision for preserving his 
father's legacy that relies more on the Internet and in- 
tellectual property rights than on the cause-oriented mis- 
sion that Mrs. King developed in 1968. 

One measurement of the change: die King center — whose 
mission statement declares its dedication to “research, edu- 
cation and training in nonviolent philosophy and strategy” 
— no longer even offers workshops on nonviolence. 

In many ways, the transition has highlighted the gen- 
erational differences, in both substance and style, between 
the marchers and dreamers of the civil-rights era and the 
deal makers and realists of today. 

Dexter King and his siblings are, quite literally, the 
children and beneficiaries of their father's movement. And 
although Dr. King was famously uncomfortable with wealth, 
so much so that be gave civil-rights groups the S54.000 he 
won with the 1 964 Nobel Peace Prize, his children have not 
hesitated to claim what they view as their birthright. 

Earlier this year, the Kangs signed a multimedia pub- 
lishing deal with Time Warner that is based on the family's 
intellectual property rights to Dr. King's words and image. 
The deal is projected to transform the King estate into a fund 
worth S30 million to $50 million. The estate, whose be- 
neficiaries are Mrs. King and her children, was valued at 
S66.492.29 at Dr. King’s death in 1968. 

Then in March, in a race against time to answer a question 
about his family's history, Dexter King staged a televised 
prison meeting with the terminally ill Mr. Ray, who had 
confessed ro killing Dr. King and then recanted in 1968. 


W ITHOUT any showing of evidence, Dexter 
King declared that his family believed Mr. 
Ray innocent of any knowing involvement in 
the killing. Mr. King later implicated Pres- 
ident Lyndon Johnson in a government conspiracy, a theory 
promoted by Mr. Ray’s lawyer, William Pepper. Mr. King 
has joined Mr. Pepper in calling for a trial. 

If Dexter King seems an independent spirit, his friends 
say, it is because he feels unfettered by the history and 
emotional bonds of the civil-rights movement. Dexter King 
himself makes no claim to civil-rights leadership. Nor does 
he think the King center should be in the business of civil- 
rights activism, at least not beyond enshrining his father's 
legacy and preserving its relevance for those who know little 
of the Montgomery bus boycott and the inarch to Selma. 

“I have never seen myself the way the media has 
portrayed me, as a leader/' Dexter King said in a recent 
interview. “I’m not trying to have a constituency. I’m not 
trying to be preachy or be on a pedestal. I’m not trying to 
effect change on that level, not because it's not something 
that should be done, but that’s just not my best destiny." 

If, as Mr. King says, he is not trying to have a con- 
stituency, he seems to be succeeding. With almost every 
endeavor, he has excited intense opposition or, at the very 
least, befuddlement. The criticism flows from civil-rights 
veterans who marched with Dr. King, from board members 
of the King center, from the pulpit of die church where Dr. 
King, his father, and his maternal grandfather had been 
pastor, and from the liberal black editorial page editor of 
The Atlanta Constitution. Some historians suggest that the 


TRAVEL UPDATE 

Speedup on New Schiphol Runway 

AMSTERDAM (AP) — Besieged by complaints about 
noisy jets overhead, the Dutch government has agreed to speed 
up plans for a fifth runway at Amsterdam's Schiphol Airport. 

Transport Minister Anne marie Jorritsraa, citing the ur- 
gency of easing noise levels, said work on the runway must 
begin "as quickly as possible” with a target date of 2003 for 
completion. 

But a group known as the Environmental Defense As- 
sociation, which is opposed to Schiphol expansion, called the 
speedup plan illegal. 

British Isles Ferries Expand Service 

LONDON (NYT) — Ferry service has begun on two new 
routes in the British Isles. In July, the 300-passenger Claymore 
began sailing between the Scottish town of Campbeltown, 1 20 
miles ( 190 kilometers) southwest of Glasgow, and Ball yeas tie 
in Northern Ireland The twice-daily service crossing will 
continue until Oct 19 and will resume at Easter. 

Two vessels now operate between Liverpool and Dublin. One 
of the vessels makes the trip in six hours on a six-day- a- week 
schedule, while a speedier snip sails cm Wednesdays only. 

The airport on San Cristobal in Ecuador's Galapagos 
Islands was closed Monday as investigators study why a plane 
landed shorr of the runway Sunday, losing its front landing 
gear and sliding 770 yards (385 meters). (APJ 

New York Waterway is planning a new glass-enclosed 
ferry terminal at the foot of West 39th Street. The company has 
been operating ferry service between Weehawken. New Jer- 
sey, and its 38th Street dock since 1987. (NYT) 


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choked back tears several times 
while speaking resentfully of his 
feeling that she had never received 
proper credit — or assistance — for 
raising her family and continuing her 
husband's work. 

But Dexter King, who bears a 
striking physical resemblance to his 
father, is also stridently independent 
and determined to be his own man. 
Only four months after being nam ed 
president of the King center, he 
resigned in a dispute with the board 
and his mother over the control and 
direction of the center. Mr. King was 
28 years old. 

“He thought she had moved out, 
and she only intended to move over.” 
said the Reverend Joseph Lowery, a 
King center board member and die 
president of the Southern Christian 


Dr. King's widow, Coretta Scott King, 
seated, and three of her four children, 
Martin Luther King 3d. 39, left Bernice, 34, 
center, and Dexter, 36, right, who has taken 
over from his mother as president and chief 
executive of the King center in Atlanta. 


Plans for the S50 milli on Dream Center — mocked by 
Cynthia Tucker. The Constitution 's editorial page editor, as 
* ‘a son of I Ha ve a Dreamland ’ ’ — are on hold. Dexter King 
said public altitudes had become so poisoned in Atlanta that . 
die center might have to be built elsewhere. 

After being appointed die executor of the estate in 1991,- 
Mr. King appointed Phillip Jones, a college friend with 
tenacious entrepreneurial instincts, as its manager and gave 
him a free hand to pursue marketing arrangements that 
would spread Dr. King’s story. 

Mr. Jones also began to aggressively enforce the estate's 
licensing rights to Dr. King’s words and image. Ultimately, 
Dexter King and Mr. Jones say, they would like to use the 
estate’s intellectual property rights to put together cor- 
porate that would generate income far charities that 
embrace Dr. King’s philosophy. 

Under Mr. Jones s guidance, the estate has reached . 
financial terms with the filmmaker Oliver Stone, who might 
make a movie about Dr. King’s life and death. It has agreed 
to the production of a television entertainment program 
each January to commemorate the King holiday. Mr. Jones 
also hopes to design software to 
^ teach students about nonviolent tac- 

ttt King, tics. He is working with a Disney 

nhilAron subsidiary on a one-hour animated 

enuaren, special “about some kids who go 

JTL Bernice, 34, back in time and meet a young Mar- 

cho has taken _ 

j . j i. r Under the Tune Warner agree- 
aent and chiej ment, which is expected to bring the 
ft Atlanta. estateanestimatedSlOmiltionayear, 

; the company is to produce new bods 

of Dr. King’s writings, CD-ROM’s of 
his speeches and memoirs by family members. The deal also 
includes the creation of a World Wide Web site. 


gut i 


* r- ; < : 


family's activities threaten to tarnish Dr. King's legacy. 

“Unfortunately, at some level, the behavior of the family 
does impact, does hurt King's own historical reputation." 
said David G arrow, a King biographer who has become a 
regular critic of the family. “I hope it’s a minor impact” 

On Aug. 28, 1963, Dr. King told those gathered for the 
March on Washington that he had a dream “that my four 
little children will one day live in a nation where they will 
not be judged by the color of their skin but by the content of 
their character." Since then, those children, while knit 
tightly by their past, have traveled varied paths. 

Yolanda Denise King, 41, is an actress in Los Angeles 
who was cast as the daughter of another murdered civil- 
rights leader. Medgar Evers, in a recent film. 

Martin Luther King 3d, 39, is the chairman of Americans 
United for Affirmative Action, a coalition be founded this 
year partly to dispel the notion that his father’s dream would 
not have countenanced racial preferences. 

Bernice Albenine King, 34, inherited her father’s love of 
the pulpit. With degrees in law and divinity from Emory 
University, she is associate pastor of a Baptist church in 
Atlanta and has published her sermons and writings. 

Like his siblings, Dexter King has never been married 
and has no children. 

Though Mrs. King has never moved from the modest 
brick house she shared with Dr. King in a black neigh- 
borhood, Dexter King lives in a gated, integrated con- 
dominium complex. He receives a salary of $1 32300 from 
the King center and owns a Mercedes and a Lexus. 

A disk jockey in high school and college, Dexter King 
invested his time and money in media and entertainment 
ventures until his mother made it clear that she thought he 
was the most capable of her children to succeed her as the 
family's leader, spokesman and business manager. 

That role, while fulfilling now, he said, was “not what I 
would have necessarily chosen for my life." 

In 1989. Mr. King was named president of the King center. 
But Mrs. King retained the powers of chairman of a board 
that was dominated by civil-rights veterans and corporate 
benefactors, people of her generation, not Dexter King’s. 

Mr. King is devoted to his mother, so much so that he 


Leadership Conference. Mr. King his speeches and memoirs by family members. The deal also 
said at the time, “They passed me a includes the creation of a World Wide Web site, 
match and not a torch.” 

' In 1994, Mrs. King, now moving OME civil-tights veterans, recalling the self-sac- 

toward retirement; prevailed upon rificing spirit of their movement, find the deal 

the King center board to give her son . distasteful. But not Andrew Young, a King (tenter 

a second chance and the full au- board member who firmly supports Dexter King, 

thority of being chairman, president ‘ ‘People look with a jaundiced eye at the Time Warner 
and chief executive. deal, but Time Warner will get Martin Luther King’s words 

Mr. King quickly overhauled the distributed better than all the nonprofits and churches have 

King center board so that family done in the last 30 years,” said Mr. Young, the farmer 

members held a majority of the mayor of Atlanta and former chief delegate to the United 

seats. He orchestrated the premature Nations. “There’s nothing wrong with a tree-market ap- 

shutdown of the Martin Luther King preach to an essentially humanitarian vision." 

Jr. Federal Holiday Commission, The estate also licenses tbe manufacture of King-related 

Aim? wTtmr, which was authorized by Congress items, among them porcelain statuettes and checkbooks. 

and headed by Mrs. King, because The Kings have won a reputation for fiercely enforcing their 

he saw ic as a fund-raising competitor of the King cenrer. licensing rights, most notably by suing CBS News and USA 

Mr. King inherited a history of s ignifi cant deficits from Today for excerpting or reprinting the “I Have a Dream" 

his mother, who had been unable to raise a sufficient speech without asking permission or paying fees. USA 

endowment for the center and unwilling to limit its scope. Today settled its case in 1 993 by paying the estate a $1 ,700 
“We were not being very effective in carrying out our licensing fee and legal costs; the CBS suit is pending, 
mission and purpose, primarily because we were too broad- Scholars are also angry about extreme limits on access to 

based," Mr. King said. “The King center became kind of the King center's archive, perhaps the most extensive 


pK'i:--- 
Iffi* . 

TIs" - 

Jjr.i-- R- 


S OME civil-rights veterans, recalling the self-sac- 
rificing spirit of their movement, find the deal 
distasteful. But not Andrew Young, a King center 
board member who firmly supports Dexter King. 
“People look with a jaundiced eye at the Time Warner 
deal. buiTime Warner will get Martin Luther King’s words 
distributed better than all the nonprofits and churches have 
done in the last 30 years,” said Mr. Young, the fanner 
mayor of Atlanta and former chief delegate to the United 
Nations. “There’s nothing wrong with a free-market ap- 
proach to an essentially humanitarian vision." 

The estate also licenses tbe manufacture of King-related 
items, among them porcelain statuettes and checkbooks. 
The Kings have won a reputation for fiercely enforcing their 
licensing rights, most notably by suing CBS News and USA 
Today for excerpting or reprinting the “I Have a Dream" 
speech without asking permission or paying fees. USA 
Today settled its case in 1 993 by paying the estate a $1 ,700 
licensing fee and legal costs; the CBS suit is pending. 
Scholars are also angry about extreme limits on access to 


like on all things to all people organization, and that’s \ collection of civil-rights documents in the country. Because 
always a handicap.” ! of staffing shortages, Dexter King said, the archive is rarely 

Mr. King has struggled to make the King center self- open and then only to those with long-standing requests, 

sustaining by vastly reducing its p ro g rams. Clearly, he To shed the financial burden of maintaining the archive, 
wants to free himself and his siblings from the hat-in-hand I Dexter King has opened negotiations with several uni- 
fund-raising that so preoccupied his mother. [ versifies about die possibility of their buying parts of the 

The center is now- a shell of its former self, limited largely j collection. Because Stanford University is a leading con- 
to planning commemorations of Dr. King’s birthday, main- i tender, some civil-rights veterans are concerned that tbe 
taining the King crypt, archive and other buildings, op- Kings will allow the papers to be moved out of the South. 
Crating a gift shop and managing the King family's public Notall of the complaintsabout tbe Kings concemmoney. 

appearances and other activities. A number of longtime ' allies, many of whom question 

Dexter King has cut the staff ro 14 from a peak of 70 in whether James Earl Ray acted alone, cannot understand 
1993. why the Kings went so far in declaring his innocence. 

Prominent black Atlantans, including the Reverend 
TELL, the King center, which received nearly half i Joseph Roberts, the pastor of Dr. King’s Ebenezer Baptist 
of its S4.2 million budget from federal grants in i Church, wonder why the Kings have not taken a more 


Exclusion 


0 1996, will run a small operating deficit in 1997, its 
sixth straight shortfall. Mr. King said. But the 
. deficit, not accounting for depreciation, was whittled to 
about $50,000 in 1996 from more than S400.000 in 1992, 
financial statements show. 

Dexter King's first public relations debacle came 
quickly, in a feud with ihe National Park Service. The 
government wanted to build a visitors center for its Martin 
Luther King Jr. National Historic Site just across the street 
from the King center. King objected because he wanted the 
site for a money-making interactive museum ro be called 
the King Dream Center. 

After a prolonged standoff, the park service eventually 
built its visitors center. But some of its exhibit space 
remains empty because the King center has declined to lend 
artifacts, such as Dr. King's funeral wagon, clothing and 
Nobel Prize medal, said Troy Lissimore, the historic site's 
superintendent. 


visible stand on critical issues that would have presumably 
concerned Dr. King. 

“The center- is not addressing the issues of the day,” 
Father Roberts said, pointing to the family's low profile on 
-such subjects as church burnings and welfare change. 

“I think it is incumbent upon somebody representing the 
King center ro instruct us, albeit coajecturally, on what Dr. : 
King's position might have been on those issues according 
to his principles." 

But Dexter King argues that his father's stature has 
created unrealistic expectations of his family and a skewed ! 
notion of its obligations. 

“I think it's unfair to take the King family, to take the King 
center, to take any one entity and say, ‘You are responsible 
for all social change,’ ” he said. “I really think it's a doable 
standard that, for some reason with the African-American 
community, every time you rise to any degree of prom- 
inence, you're expected to solve everybody's problems.” 


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Washington’s T-Shirt Vendors 
Banned From Federal Parks 

Washington Post Service 

WASHINGTON — The National Park Service has notified 
T-shirt vendors that they can no longer sell the shirts on the 
Mall and at the Vietnam Veterans Memorial, effective Sun- 
day. 

Barring a last-minute court reprieve, T-shirts will no longer 
be available for purchase in federal parks in Washington. T- 
shirt vendors with valid District of Columbia permits can 
continue to sell on city streets. 

Jan Scruggs, president of the Vietnam Veterans Memorial 
Fund, said he welcomed the Park Service action. 

“I believe we are seeing the beginning of the end of the 
memorial being used as a retail vending outlet," he said. 
“This decision will allow the real demonstrators to stay and 
the T-shirt salesmen to leave.” 

For years, Mr. Scruggs has urged the Park Service to oust 
the vendors, who he says have sold T-shirts under the guise of 
a round-the-clock protest within sight of the Vietnam Vet- 
erans Memorial. 

Some protest groups had held such demonstrations for more 
than a decade, financing their efforts through the sale of 
message-bearing T -shirts . 

In 1995, the Park Service issued new regulations banning 
the sale of T-shirts in the Washington parks because of what it 
called a flea-market atmosphere created by tbe clothing dis- 
plays near the monuments and memorials. Critics said the T- 
shirt ban was unconstitutional because it infringed on freedom 
of speech. 

Several groups, concentrated ai the Vietnam Veterans 
Memorial and on the Mail near the Smithsonian Institution 
museums, succeeded in having themselves exempted from the 
ban while their attorney c halleng ed it. Those groups received 
notice from the Park Service Tuesday. 


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Antors 23/73 7«4* a 22(71 7/44 pc 

Alton 27780 2W68e 23/84 20/66 pc 

Barcelona 2577 16*66 PC 27/00 10/66 pc 

Belgrade 28/B2 I960 pc 2»B2 15/59sh 

Borin 26/79 15/59 sh 24/76 14/57 pc 

Brussels 26/79 17*2 ah 2679 17*2 pc 

EMope* 26*2 15*9 * 27/80 16/59 Hi 

Copenhagen 24/75 14/57 pc 23/73 14/57 pc 

Cone Del Sal 31*6 10/66 i 25*4 ZD/Sfl pc 

DUMn 24.75 18*4 e 24/76 1664 pc 

EdrtMgh 26/79 16/61 pc 25 77 16*1 pc 

Horen* 29*2 16*1 c 20*2 iMOpc 

FranKhirl 25/77 13/55 i 24/75 12/53 pc 

Geneva 28/52 14/57 pc 28*2 14/57 pc 

Hahmta 2271 IMS pc 23/73 1S/59 pc 

total ini 2679 17*21 27*0 1»84 ah 

Kiev 20/68 IBM pc 22/71 13*5 pc 

Lea Palmas 2682 2170 b 26/70 10(86 5 

Lrcbon 2577 1 7 62 pc 2879 17.82 pc 

London 27180 1 664 a 27*0 i B/64 pc 

Madrid 36*7 1661 pc SS/91 16/61 ah 

Molema 3188 1864 pc 29*4 17.fi? pc 

Mum 26/70 15*10 28*2 17*2 c 

Moscow 19*6 12/63 pc 21/70 13*3 pc 

Mura* 24/75 12/53 pc 2476 13/56 pc 

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Stockhokn 2373 15/59 pc 2373 15/59 pc 

Strasbourg 31/88 17*2 t M/84 16*1 a 

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Forecast tor Thursday through Saturday, as provided by AccuWeather. 


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and cool weather tor much dry and nice weather 
0 ! tho Northeast Thuisdajz across much ol Eastern 
and Friday. Ft should dry Europe Thursday through 
out Saturday, but it will Saturday. A storm may 
/amain cool. Expect sunny, bnng a shower to London 
hoi and dry wealhet m the Thursday, but dry weather 
Southwest through Satur- should return lor the week- 
day Pleasant weather win end It mu not be quite as 
dominate in the Midwest hot m Madnd. but expect It 
under high pleasure. to remain warm from 

southern Spain to Italy. 


Asia 

The remains 01 Winnie vuU 
continue to cause heavy 
rain Irom the Korees into 
Manchuria Thursday and 
Friday. The storm will head 
nonti into eastern Russia 
Saturday. Hot and steamy 
weather K in SYXe tor Bel- 
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tered thunderstorms possi- 
ble. 


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^•5. Says It Will Join 

Talks on Land Mines 

But Critics See Hidden Motive in Decision 


INTERNATIONAL HERALD TRIBt flVE, WEDNESDAY, AUG UST 20, 1997 

THE AMERICAS 


PAGES 


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NwK»*73wiW 
EDGARTOWN. Massachusetts — 
The decision by the Clinton adminis- 
mtion to join its European allies in 

nS S t l0n 10 ban “‘'-Personnel land 
nnnes has guaranteed the U.S. a place at 
the toble as the ban is negotiated, but 
cnncs remain concerned that the White 
House is less interested in advancing the 
prospects for a treaty than in trying to 
\ v'cm^ 0 one t * iat it could no longer pre- 

• , President Bill Clinton has Jong said 
that he supports such a ban, but only as a 

' IS™ * a global treaty negotiated 
through the United Nations. Under the 
approach the United States agreed to 
. Monday, nations that do not take part in 
; J™-. talks w dl not be bound by the treaty. 

■ China. India and Russia, among other 

• countries, do not plan to take part. 

In a statement issued through the 

■ press office here, where Mr. Clinton is 
; on vacation with his family, the White 

• House said, “The United States will 

■ work with the other participating na- 
.nons to secure an agreement that 

• achieves our humanitarian goals while 
. protecting our national security in- 

■ wrests.” 

. The Stare Department spokesman, 

• James Rubin, said the United States 
! would insist on “a geographic excep- 
. non for anti-personnel land mines m 

■ Korea, ’ where Pentagon pl ann ers 
count on land mines ro blunt any North 

■Korean incursion. He also said the 
! United States would seek to ensure that 

• the treaty does not ban mines whose 
“primary function is some thin g else,” 

. such as blowing U p tanks. 

Mr. Rubin said that the United States, 
contrary to some reports, would not 
; insist that the treaty include an excep- 
tion for so-called “s mar t mines,” 
which eventually destroy themselves 
! rather than remain active underground 
for years. 

But some supporters of the ban said 
that other nations were unlikely to make 
an exception for Korea. Monday’s an- 
nouncement, they said, did not change 


U.S. policy on land mines. 

“I see nothing new, except they're 
deferring the actual decision of whether 
they sign until Ottawa,” said Caleb 
Rossiter, the director of Demilitariz- 
ation for Democracy, a group that re- 
leased a report Monday arguing that the 
Pentagon need not rely on land mines in 
Korea. 

Bobby Muller, the president of the 
Vietnam Veterans of America Foun- 
dation. said that because the admin- 
istration had not changed its basic ne- 
gotiating position on land mines. 
Monday’s announcement indicated, at 
best, that it did not want 10 seem ob- 
structionist. 

“The only apparent interest of the 
United States in going is. one, to be able 
to say they actually tried and. two, to trv 
to weaken the treaty," Mr. Muile'r 
said. 

More than 100 countries have already 
agreed to join in the negotiations. But 
until Monday the United States had said 
that ir would only “attend” the talks, 
and not take part. 

Instead of the current round of talks, 
the Clinton administration urged that a 
ban be negotiated through the United 
Nations disarmament conference in 
Geneva. 

But efforts to negotiate a ban in 
Geneva have gone nowhere, adminis- 
tration officials acknowledge, and the 
administration's critics came to view 
insistence on that forum as a stalling 
tactic. Even as the White House said 
Monday that it would join the Oslo 
talks, it said that it would keep seeking a 
treaty in Geneva as well. 

As many as 100 million anti-per- 
sonnel mines may be buried in 68 na- 
tions. They kill or maim someone, al- 
most always a civilian, every’ 22 
minutes, according to figures issued by 
the Red Cross. But Mr. Rubin said that 
American land mines were not respon- 
sible for such incidents. 

“The problem isn't American land 
mines," he said. “The problem is land 
mines in other countries. ” 






4 % 





at eve Helper /i ce Asatuicd nt* 

ALL TOGETHER — A company of cadets at the Virginia Military Institute marching in front of the 
barracks in Lexington, Virginia. The women are the first of 30 to attend the school, until now for men only. 


Away From Politics 

• The space shuttle Discovery and its 
crew of six returned to Earth on Tues- 
day after a day's delay, carrying a 
satellite containing valuable informa- 
tion about Earth's ozone layer. The 
space plane glided through a mostly 
clear sky and landed at the Kennedy 
Space Center in Cape Canaveral. Flor- 
ida. ending a 12-day journey. (AP) 

• More people died in fires in the 

United States last year than at any year 
since 1990, the National Fire Protec- 
tion Association said. It said fires 
killed 4,990 people in 1996 in the 
United States, making the U.S. fire 
death rate the highest in the indus- 
trialized world outside the former So- 
viet bloc. f API 

• A Chicago company is recalling 
5,000 German-made chocolate eggs 


after U.S. officials said they pose a 
serious risk for young children who 
could choke on the toy figures hidden 
inside. The Consumer Product Safety 
Commission on Monday advised par- 
ents who have bought the Kinder Sur- 
prise chocolate eggs to take the toys 
away from children under 3. The toys 
come in pieces that children are sup- 
posed to fit together, and the com- 
mission said the pieces were so small 
that young children could easily choke 
on them. (AP) 

• Timothy McVeigh's lead attorney, 
Stephen Jones, said he would ask a 
court to let him stop representing the 
convicted Oklahoma City bomber. Mr. 
Jones said Monday he was making the 
request because of an interview Mr. 
McVeigh gave 10 the Buffalo News in 
New York state in which he said the 
attorney had “screwed up badly" in 
conducting his defense, lied to him and 
got him the death penalty. ( Reuters ) 


• The Food and Drug Administra- 

tion has approved a surgical implant 
to restore movement in paralyzed 
hands. The electronic device, called 
Freehand, helps quadriplegics feed 
themselves, pour coffee and even write 
letters. The NeuroContro] Corp. im- 
plant gives hope to quadriplegics wbo 
retain some upper-body movement but 
cannot move their hands. Electrodes in 
the implant send electric impulses to 
muscles that force a paralyzed hand to 
move on command. (AP) 

• An accused bank robber who had 

been under a suicide watch grabbed a 
bailiff s pistol as he was leaving court 
Monday, wounded the bailiff and shot 
himself to death. William Foster 
grabbed Wayne Van Dyke’s gun in the 
hallway of "a counhouse in Mount 
Pleasant, Michigan. He wounded Mr. 
Van Dyke in the struggle, then shot 
himself in the head, according to (he 
sheriff. Barry DeLau. (API 


Exclusion From U.S. Church Accord Stings Episcopalians 



By Gustav Niebuhr 

New York Times Sen-ice 

PHILADELPHIA — The leaders of 
the. nation's largest Lutheran denom- 
ination have voted to enter mtoa historic 
agreement for close cooperation with 
three other denominations, but they nar- 
rowly rejected similar ties with the Epis- 
copal Church. 

In approving a document called the 
Formula of Agreement, the Evangelical 
Lutheran Church in America decided to 
bridge gaps within Protestantism — 

S aps tiiat have- existed nearly since the 
eformation — berween the faith’s 
Lutheran and Reformed traditions. 

Although not a merger, the document 
calls for “full communion * ’ between the 


POLITICAL p 


5.2 million-member Lutheran denom- 
ination and three other churches, the 
Presbyterian Church (U.S.A.). the 
United Church of Christ and the Re- 
formed Church in America, which to- 
gether account for about 5 million bap- 
tized members. 

Its practical effect means that the 
churches retain their creeds and theo- 
logical traditions but fully recognize 
each other’s sacraments and clergy 
members and can collaborate in mis- 
sionary work and major social service 
projects. 

A key provision of the agreement 
provides for “exchangeability'’ of 
clergy members, an important consid- 
eration in the case of hundreds of small 
congregations whose meager finances 


keep them on the edge of survival. 

Under this provision, for example, an 
isolated Lutheran church that could not 
afford a full-time pastor could share the 
services of a minister from a nearby 
Presbyterian church, thereby possibly 
freeing up money for purposes like a 
day-care program or food pantry. 

For that reason, the Lutherans' de- 
cision to vote down a similar agreement 
with the 2.5 million-member Episcopal 
Church — an action by which Lutherans 
effectively truncated their role as a uni- 
fying Protestant force — came as a bitter 
blow to some. 

Bishop Stephen Bouman, head of the 
Lutherans' Metropolitan New York 
Synod, a regional body comprising 235 
congregations, said that Lutherans and 


Episcopalians “have churches almost 
across the streei from each other in the 
South Bronx." 

For the benefit of church members, 
particularly the poor, he said. “We need 
to share our resources, to share our 
grass-roots leaders." 

The Lutheran-Reformed agreement 
passed by 839 votes to 193 among voting 
members attending the Lutherans' 
Churehwjde Assembly, their top policy- 
making body, which is meeting through 
Wednesday at the Pennsylvania Con- 
vention Center. 

A two-thirds majority was neces- 
sary. 

But the vote on the Lutheran-Epis- 
copal document, called the Concordat of 
Agreement, fell a mere six votes short of 


the necessary majority, with 684 mem- 
bers in favor and 351 against. Some 
members wept with disappointment 
after the vote. Others said the agreement 
failed because of persistent fears among 
some Lutherans of binding themselves 
to a church in which bishops play so 
large a role. 

Afterward, Lutheran officials, as well 
as representatives of the other Protestant 
churches involved, appeared stunned by 
tire mixed results. 

in meetings earlier this summer, each 
of the participating denominations had 
voted overwhelmingly to endorse their 
parts of the agreements. 

The Episcopalians, who met in the 
convention center a month ago, voted 9 
to 1 in favor of the Concordat. 


House Panel Names Counsel 
In Fund-Raising Investigation 

WASHINGTON — A former Maryland prosecutor on 
Tuesday was named chief counsel of the House com- 
mittee investigating fund-raising abuses in the 1996 pres- 
idential campaign. - , 

Dan Burton, Republican of Indiana, the panel s chair- 
man, announced the appointment of Richard Bennett, 
who served as U.S. attorney for Maiyland from 1991 to 
1993 and ran for state attorney general in 1994. 

Mr Burton said Mr. Bennett, 50, a partner in a Bal- 
timore law firm, will join the committee later this month 
to supervise the investigation. 

“The committee, the Congress and the country are 
fortunate that Dick Bennett has accepted my invitation to 
become our chief counsel," Mr Buxton said in a state- 
ment. “His reputation as a legal scholar and a zealous 
advocate precede him. 1 ’ 

His arrival will fill a six- week vacancy created with the 
abrupt resieoarion of John Rowley, who complained he 
had not been given authority to ran a ‘profession^ 
credible investigation.” 

One School Test Too Many? 

bit its next Obstade: House 

Republicans. reCU m S fom j B summer recess, 

IS ^flome Republican lawmakers 
one of the first p even abolish, the groundbreaking 
SSSfi* prohibit to Education Department 

which Saving swiftly to develop 
The department, ^ M congressional 

the tests, h “ >“{? J-SL fiofaow it has to contend with 
dtepucism about *eid^B Republican of 

'ch^an of the House Comnutiee on 

Education and the Workforce^ Goodting 

-We already ha« “£ have their own 

to tell us What Y* ■gjjj sent his House colleagues a 
Last month, government is already 

letter detailing how the year t0 help states 

spending more than -500 exam s. The new tests 
develop their own jetoggg® 1 exams (W P) 

would cost another 5 2*. million. 


Jury Says Dow Hid Risks of Breast Implants 


By Barry Meier 

.Vfw York Times Service 

NEW YORK — In a major courtroom set- 
back for one of America’s largest chemical 
producers, a state jury in Louisiana has found 
that Dow Chemical Co. had knowingly de- 
ceived women by hiding information about the 
health risks of silicone used in breast implants. 

The New Orleans juiy, which is hearing the 
first class-action lawsuit brought against a com- 
pany involved in the breast-implant industry, 
also found Thai Dow Chemical had failed to test 
silicone adequately before it was used in the 
human body. 

Monday’s decision ended the first part of a 
case that could involve the claims of 1,800 
women who received breast implants. In the 


trial’s second phase, expected to start in late 
September, the same jury will determine wheth- 
er eight women were injured by the devices. It 
will also decide what compensation, if any. they 
should receive. 

If upheld, the decision could have significant 
financial implications for Dow Chemical, 
which is part owner of Dow Coming, which at 
one time was the nation’s largest implant pro- 
ducer. Dow Coming filed for bankruptcy to 
protect itself from breast-implant lawsuits. 

Executives of Dow Chemical said they be- 
lieved that the jury's decision was unfounded 
and that the company would be vindicated in the 
trial's next phase. 

In recent years, tens of thousands of women 
have claimed that they suffered a host of he.alth 
problems from silicone-filled breast implants. 


including hardening of the breast tissue, im- 
plant rupture and disabling disorders that re- 
semble autoimmune disorders like lupus or 
connective tissue disease. 

There is abundant evidence that silicone im- 
plants ruptured at rates far higher than initially 
suggested by manufacturers. But the vast ma- 
jority of recent scientific studies has found that 
the rate of autoimmune diseases in women with 
implants is about the some as for the general 
population. 

But the leading plaintiffs' lawyer In breast- 
implant litigation, John O’Quinn, said Mon- 
day s decision could broaden the legal front in 
claims against Dow Chemical. 

“Maybe someone will finally get the message 
that when evidence is put out in the open under 
oath, the truth comes out,'’ Mr. O ’Quinn said. 


U.S. Checking 
Police Beating 
Of Immigrant 
In New York 


By Blaine Harden 

Ytuihingtoii Post S ervice 

NEW YORK — Invoking the "al- 
most incomprehensible depravity" of 
police officers who attacked a Haitian 
immigrant in their custody, U.S. At- 
torney Zachary Carter announced that 
the federal government has begun a civil 
rights investigation of the New York 
City Police Department for a partem of 
tolerating brutality. 

The announcement came as the as- 
sault on Abner Lonima, who was beaten 
and brutalized with a wooden plunger 
handle in the bathroom of a Brooklyn 
police station on Aug. 9, grew into a 
scandal, tarnishing the reputation of a 
police force that has won national ac- 
claim in recent years for presiding over 
a major reduction in crime. 

Mayor Rudolph Giuliani, a Repub- 
lican whose political fortunes have 
soared as the crime rate has fallen and 
whose public image is closely tied to 
aggressive police tactics, moved again 
to respond to community outrage over 
the Louima case. 

During the weekend, thousands of 
Hainan immigrants, many carrying toi- 
let plungers, marched in Brooklyn to 
protest what they said was routine abuse 
of minorities by a police force that is 76 
percent white. 

The mayor, who last week ordered 
wholesale changes in personnel at the 
Brooklyn precinct where Mr. Louima 
was tortured, announced an initiative 
that will require all 38.000 members of 
the country's largest police force to 
spend three or four bouts over the nexr 
six months meeting with community 
critics and discussing police behavior. 

As the mayor was announcing the 
new program, his police commissioner 
said that two more officers from the 
70th Precinct in Brooklyn had been ar- 
rested in the assault on Mr. Louima, 30, 
a security guard who remains hospit- 
alized with a ruptured bladder and other 
internal injuries. 

All 700 members of the Internal Af- 
fairs Division of the police force have 
been assigned to the case. 

Four officers have been arrested, one 
has been suspended, 13 have been taken 
off active duty and two top commanders 
of the 70th Precinct have been trans- 
ferred. 

The two officers arrested Monday 
allegedly beat Mr. Louima after he was 
arrested outside a Brooklyn nightclub on 
charges of assaulting a police officer. 

All charges against Mr. Louima have 
since been dropped and the mayor has 
twice visited hum in the hospital. The 
two newly arrested officers allegedly 
beat Mr. Louima on the head with a 
police radio as he sal handcuffed in the 
back seat of their cruiser. 

Mr. Carter, who is U.S. attorney for 
the Eastern District of New York, said 
that the federal government was step- 
ping into the case because the alleged 
behavior of police officers suggested 
that they did not fear being disciplined 
by their superiors. 

“Among the most disturbing aspects 
of this case is that one or more officers 
are alleged to have committed an act of 
almost incomprehensible depravity 
within the police precinct and with the 
apparent expectation that they could get 
away with it." Mr. Carter said. 

Using a 1994 law that gives the 
Justice Department the authority to look 
into brutal! tv in a city police depart- 
ment. Mr. Carter said that federal in- 
vestigators will attempt to find out if a 
pattern exists in New York City “of 
railing to take effective action against 
officers who are guilty of civil rights 
violations or otherwise permitting an 
atmosphere of tolerance for police 
abuse of authority." 

Similar investigations have taken 

g lace recently in such cities as New 
irleans, Philadelphia and Pittsburgh. 

Mr. Giuliani, a former federal pros- 
ecutor, said that the Justice Department 
“has a perfect right to investigate any- 
thing they want to." 


A New Breed of Pawnshops Is Booming in the South 


Quote /Unquote 

« naatt’T i 


Lf IM/tc- r 

■Newt Gingrich. “People 

store. Bui it ac ^\^ l0 {hTAmericim P=°P>e 
more money going (AP) 

earned it in ihe first P^ ce - - — 


By Sarah Jay 

New York Times Senice 

ATLANTA — When 
Misty Jones, a 23-year-old 
mother of three, fell behind 
on a nagging bill this summer 
she knew just what to do. She 
brought a battery charger for 
the family car to Cash Amer- 
ica, a local pawnshop, to ask 
for help. 

“It rained for like two 
weeks" said Ms. Jones, 
whose husband, a house 
framer, needs good weather 
for his work. * ‘We knew that if 
we came to a pawnshop, they 
would give us a little loan.” 

Not long ago. Ms. Jones 
returned to the shop in a strip 
mall in Riverdale, a suburb of 
this city that has long been a 
mecca of pawnshops,to pay 
back the loan — SsO plus 
SI 2.50 interest. She unfolded 
her pawn ticket, and not only 
was she greeted warmly, but 
an employee even volun- 
teered to carry the battery 
charger out to her car. 

That treatment, such a con- 
trast to the customary image 
of pawnshops, «!»■»- 

dent. It fit in with the bright 
and spacious appearance and 


the young, efficient and af- 
fable employees. The mer- 
chandise on display was clean 
and easy to find. Signs dir- 
ected customers to appropri- 
ate areas, whether they were 
asking for a loan on a pearl 
necklace or looking fora bar- 
gain on a used lawnraower. 

“Cash America looks 
more modem,’ * Ms, Jones 
said,. “and I prefer the ones 
that don't have guns." 

Ms. Jones is the son of 
customer who has made an 
unexpected success of a new 
breed of pawnshops that have 
swept across the South in re- 
cent years and is beginning to 
extend its reach. Led by Cash 
America International, based 
in Fort Worth, Texas, and the 
first and largest of the new 
wave, these modem chains 
have been simultaneously 
consolidating this age-old in- 
dustry and sprucing up its 
seedy image. In the process, 
they have changed the land- 
scape of the trade, perhaps 
one of the last mom-and-pop 
businesses to be brought inro 
the contemporary era. 

“All of us are consolid- 
ating the industry,* ’ said John 
Tbedford, president of Value 


Pawn and Jewelry, which has 
opened 22 pawnshops 
throughout Florida in the last 
three years. “We’re putting a 
fresh coat of paint on these 
locations. Our employees 
wear shirts and ties and name 
tags. We’re cleaning up the 
image of this industry.* 

And the customer-friendly 
approach of the chains has 


local pawnshops lived up to 
their reputation as dingy, 
cramped outlets, with mer- 
chandise piled to the ceiling, 
and used on occasion as a 
dumping ground for petty 
thieves. But that has ceased to 
be the norm, thanks to a hand- 
ful of visionaries who tar- 
geted the industry as ripe for a 
revolution. 


‘We’re putting a fresh coat of paint on 
these locations. Our employees wear 
shirts and ties and name tags. We’re 
cleaning up the image of this industry.’ 


been contagious. On Peters 
Street in Atlanta, once known 
for its many old-style pawn- 
shops, those that remain have 
more or less mimicked the 
new wave. As a general man- 
ager at one of them said. 
“You have to treat it like a 
business: be nice ro custom- 
ers, send out flyers and treat 
people with respect, as op- 
posed to saying, ‘Here, I’ll • 
give you $2 for that,’ the way 
some shops used to do.” 

Until recently, nearly all 


Inspired by a sagging econ- 
omy, a rash of personal bank- 
rupcies, and a growing seg- 
ment of the population with 
bad credit that has limited ac- 
cess to the banking system, 
these entrepreneurs gambled 
that the pawnshop trade was 
{Mimed to grow. 

And it has. In 1988, when 
the National Pawnbrokers 
Association was formed, 
there were an estimated 6,800 
pawnshops nationwide. Now 
there are more than 15,000. 


Some of them are owned by 
Cash America and three other 
publicly traded chains. EZ- 
Coro of Austin, Texas; First 
Cash Inc. of Arlington, 
Texas, and U.S. Pawn in 
Westminster, Colorado. 

But scores of others are 
also owned and operated by 
individuals who have fol- 
lowed Cash America’s for- 
mula of acquiring new shops, 
improving customer service, 
computerizing operations and 
remodeling the stores in a 
conscious effort to dispel the 
old perceptions. 

These new leaders are 
shaping the industry in sev- 
eral ways, from pressing state 
legislators for more regula- 
tion to distancing themselves 
from the old icons. In Florida, 
for example, the traditional 
symbol of three balls — used 
from the days of the Medici 
— is absent from all Value 
Pawn and Jeweliy signs. In 
New York, the trade group for 
the industry changed the very 
name of the business, from 
pawnbroker to "collateral 
loan broker.” 

The vast majority of pawn- 
shops are clustered in the 
South, mostly because state 


regulations allow them to 
charge more favorable in- 
terest rates. For example, in 
Florida and Texas, which 
each support more than 1,000 
pawnshops, interest rates and 
service fees can run to 20 per- 
cent a month, and Georgia 
pawnshops can charge as 
much as 25 percent. In con- 
trast, New York City’s rates 
are held at 3 percent which 
explains why the city has only 
about 70 licensed pawnshops, 
down from 150 in the 1960s. 

There is no federal pawn- 
shop law, so it will fall to state 
legislators to determine the 
future growth of the industry, 
according to John P. Caskey, 
an associate professor of eco- 
nomics at Swarthmore Col- 
lege. "There's a huge poten- 
tial market,” he said. "The 
key is to change the regu- 
lations.” 


IBSa English 
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PAGE 4 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, AUGUST 20, 1997 


ASIA/PACIFIC 


Hordes of Cambodians 
Flee Village Under Siege 

Ousted Leader’s Troops Make Last Stand 




The Associated Press 

KHUENG HOEICHUENG. Thailand 
— Machine gun and mortar fire re- 
sounded Tuesday near the last strong- 
hold of troops loyal to Cambodia's ous- 


tlie direction of O’Smach Tuesday 
morning. Later, mortar fire was ex- 
changed. 

Villagers from the area wheeled their 
possessions on oxcarts, carrying chick- 


ted prime minister, hours after tens of ens and herding pigs on their way across 
thousands of villagers fled to Thailand to the border in the dark. _ 


escape the battle. 

The opposition soldiers — with 
nowhere left to run after being chased 
across Cambodia for the past month — 
are making a last stand at O'Smach. 
about five kilometers (three miles) from 
the Thai border. 

But they face almost certain defeat by 
the army of the Cambodian coup leader. 
Hun Sen. now that villagers who were 
shielding them have fled, a high-ranking 
Thai Army officer said Tuesday. 

An estimated 35,000 Cambodians 
streamed across the border into Thailand 
late Monday and early Tuesday. 


Refugees made their way to a tem- 
porary camp at Khueng Hoeichueng, 
just inside Thailand, where roost bedded 
down on mats in an open field. 

Water supplies, toilets, and medical 
facilities were in place at die 20-acre (8- 
hectare) site, and the Red Cross was 
providing instant noodles for food and 
plastic sheets for shelter. 

Only about 200 civ ilians were be- 
lieved still in O’Smach, j>lus about 35 
malaria patients stranded m the hospital. 
The Thai Army sent two trucks into 
O'Smach to evacuate about 50 people. 

During the past month. Mr. Hun Sen’s 


The officer, who spoke on condition of troops routed Prince Ranariddh's soldiers 


anonymity, said soldiers loyal to Hun Sen, 
who ousted Prince Norodom Ranariddh 
in a coup July 5 and 6. had been reluctant 
to launch a full-scale attack on O'Smach 
for fear of high civilian casualties. 

But with the villagers now safe inside 
Thailand, there was nothing to hold Mr. 
Hun Sen's troops back. 

“Ranariddh’s troops are in danger 
because they no longer have any people 
to protect them,” the Thai officer said. 

Machine-gun fire could be heard from 


from Siem Reap, more than 95 kilometers 
from the border to the edge of Thailand. 

“O’Smach is the last village,” the 
Thai officer said. “After this, it will be 
finished.” 

In the Cambodian capital of Phnom 
Penh. Mr. Hun Sen announced a plan 
Tuesday to return security and stability 
to Cambodia before elections promised 
next year. In a four-hour broadcast aired 
on all Cambodian radio and television 



lurt B ri r nnria 


Cambodians fleeing into the Thai border town of Karb Chemg on Tuesday to escape the fighting in O’Smach. 
and defense ministries had been told to Prince Ranariddh and warned that his Asian Nations, but that if membership 


crack down on rampant crime. 

■ Hun Sen Speaks Out on ASEAN 
Mr. Hun Sen criticized President Fi- 


country would not join ASEAN if it had was delayed until after the 1998 elections 


stations, Mr. Hun Sen said his interior del Ramos of the Philippines for meeting 


to wait until next year for membership. 
Reuters reported from Phnom Penh. 

Mr. Hun Sen said he was still interested 
in joining the Association of South East 


in Cambodia, he did not want any part of 
the regional club. ASEAN delayed Cam- 
bodia’s membership after Mr. Hun Sen 
seized power in July. 


Indonesia Considers Buying Radar Balloon to Patrol Gas Field 


Bv Michael Richardson ***** Beijing may claim ownership. 

. Piinam 1?95 assured Indonesia^!* 

had no claim to the Natuna Islands, 1 .250 

SINGAPORE — Indonesia is dis- kilometers (S00 miles) north of Jakarta, 
cussing the purchase of a long-range But Beijing failed to give such an 
U.S. radar balloon to use with newly assurance for the offshore gas field, 
acquired reconnaissance aircraft to pro- which is about 225 kilometers northeast 
tect its giant Natuna gas field in the of Natuna, the biggest island in the 
South China Sea. group. 


Analysts said Tuesday that the move 
was another warning to China not to 
question Indonesian ownership of the 
gas project, which is being developed 
with U.S. companies at a cost of about 
$40 billion. 

They said it also was intended to 
reassure Western and Asian partners in 
the project, and regional countries ne- 
gotiating to buy the gas for power gen- 
eration and industrial use, that it will 
go ahead as scheduled despite concerns 

U.S. and Japan 
Cover Taiwan 
In Arms Study 

Reuters 

TOKYO — Japan’s government 
spokesman said Tuesday that a security 
review with the United Stales covered 
possible conflicts across the Taiwan 
Strait as well as on the Korean Pen- 
insula. 

Chinese state media reacted quickly, 
accusing Japan of trying to preserve the 
gulf between Beijing and Taipei and 
denouncing the decision as interference 
in China's internal affairs. 

Since last year, Tokyo and Wash- 
ington have been reviewing their 1978 
“Guidelines for Defense Cooperation." 
They include provisions for Japan to 
support the U.S. military in regional 
conflicts. 

"The ‘Far East’ covered in the U.S.- 
Japan Security Treaty covers the area 
north of the Philippines, that includes the 
Taiwan Strait and the Korean Penin- 
sula,” the chief cabinet secretary. Seir- 
oku Kajiyama, said at a news confer- 
ence. 

“I am not aware that the revision 
includes a change in the fundamentals of 
the security pact,” he added. 

China has repeatedly warned Japan not 
to include Taiwan as a region covered. 
“We express serious concern about the 
remarks and ask the Japanese govern- 
ment to make a clear-cgr clarification," 
said the Chinese Foreign Ministry 
spokesman, Shen Guofang, on Tuesday. 

Tokyo should abide by the terms of its 
commitments under its peace treaty with 
China, state radio quoted Mr. Shen as 
having said. 

In an interim report in June on the 
review, the United States and Japan did 
not specify a geographical limit to be 
covered. 

The interim report said that Japan 
might send warships to take pan in UN- 
sanctioned naval blockades and mine- 
sweeping operations during an armed 
conflict “surrounding Japan.” 

A final report is due in September. 

On Sunday, Mr. Kajiyama made sim- 
ilar remarks about the review of the 
guidelines in a television talk show, 
drawing sharp criticism from Beijing. 


group. 

Official Chinese maps show the gas 
field falling within a line marking 
Beijing’s claimed “national boundary" 
in the South China Sea, a vast claim that 
also includes the disputed Spratly Is- 
lands several hundred kilometers to the 
north. 

Indonesia's deputy air force chief. Air 
Vice-Marshal Djatmiko, said recently 
that the military planned to tether a radar 
balloon high above die gas field. South- 
east Asia's largest, to detect possible 


incursions of foreign ships and planes 
into Indonesian territory. 

Quoted by Indonesia’s official news 
agency, Antara, he stud that the balloon 
carrying the radar was bigger than a 
Boeing 747 jumbo jet, and that dis- 
cussions were under way to buy it from 
the United States. 

The bead of Indonesia's western fleet 
command. Rear Admiral Achmad 


Sutjipto, also said recently that some of trillion cubic feet of recoverable gas and 
the sue Nomad-22 reconnaissance planes is scheduled to start production in 2002. 
acquired from Australia would be used Likely buyers of the gas include Singa- 


to safeguard the Natuna gas field. 

“They will serve as extensive eyes 
and ears for the warships," he said. 

Indonesian military commandos have 
said that Hawk jet fighters, 24 of which 
were bought recently from Britain, and 
Sukhoi Su-30K fighters, 12 of which 
were ordered this month from Russia, 


would be used to defend the gas field. tons a year, with 40 percent coming from 

The project — 50 percent owned by Indonesia. 

Exxon Corp. of the United States; 26 Pertamina plans to reduce its stake in 
percent by Mobil Corp, another Amer- die Natuna project to 1 1 percent from 24 
ican company, and 24 percent by Per- percent. Officials say that a Japanese 
tamina, Indonesia's state petroleum consortium of oil and trading companies 
company — is considered vital to na- is negotiating to buy the 13 percent share 
tional interest by the Indonesian gov- from Pertamina. 
eminent. Analysts said that Indonesia wanted 

The field is estimated to contain 45 as many foreign companies and coun- 
trillion cubic feet of recoverable gas and tries as' possible to be involved in the 
Is scheduled to start production in 2002. project to discourage China from doing 
Likely buyers of the gas include Singa- anything to disrupt it. 


pore, Thailand. Japan, South Korea and 
Taiwan. 

Indonesia is the world's largest pro- 
ducer of liquefied natural gas. with an 


“With the U.S., Japan and so many 
other international interests involved, 
Beijing will know that there will be a 
very powerful coalition against them if 


output of over 22 million tons a year they try to upset the status quo," said 


worth about $4 billion. 


Jusuf Wanandi. chairman of the super- 


Japan. the world's leading buyer of visory board of the Center for Strategic 
liquefied natural gas, imports 43 million and International Studies in Jakarta. 


w* ■£ 


f >/;.*?? 

S •* ■ 



Police in Taipei on Tuesday besieging three men wanted in the kidnap-murder of an actress's daughter. 


Taiwan Police Kill 
Suspect in Murder 


TAIPEI — Taiwan police on Tues- 
day shot and killed a man suspected of 
kidnapping and murdering the teen- 
age daughter of a popular actress in a 
crime that triggered mass protests and 
caused several officials to resign. 

One policeman was killed and three 
were wounded during the gunfighL A 
passer-by w as also wounded. 

Police" identified the dead suspect as 
Lin Chun-sheng and said he w as shot 
10 times and died on the w’ay to hos- 
pital. Two other suspects escaped. 

A live television broadcast showed 
dozens of officers with bulletproof 
vests exchanging fire with the gun- 
men while hundreds of people 
stopped to watch. 

The suspects, sought for the ab- 
duction and murder in April of Pai 
Hsiao-yen, the 17-y ear-old daughter 
of an actress, Pai Ping-ping. 

Pai Hsiao-yen, whose father was 
the late Japanese comic book artist 
Ddti Kajiwara, was kidnapped on 
April 14 on her way to school 

Her kidnappers chopped off half of . 
her left little finger, sent it to her 
mother and demanded a S5 million 
ransom. The girl’s body was later 
found floating in a river. She had been 
strangled. 


briefly 


Typhoon Batters 

China, Killing 6 

BEIJING — The typhoon des- 
ignated Winnie tore across south- 
eastern China on Tuesday, killing at 
least six people, injuring hu ndreds 
and toppling thousands of homes, . 
officials said. . . _ 

But casualties were limited be- 
cause local officials had evacuated 
nearly a million people from coastal 
towns and villages in the direct path • 
of the typhoon, which killed at least 
31 people and left 13 missing in 
Taiwan. . 

Six people died in Manila and 
25,000 fled their homes Tuesday as 
the fringes of the typhoon ham- ■ 
mered the Philippine capital with ! 
torrential r ains , officials said. The 
downpour that began Monday . 
triggered widespread floods and 
power outages, forcing the closure 
of government offices, businesses, 
schools and finan cial markets and 
cansing horrendous traffic jams. | 

Philippine Airlines canceled four ' 
international and 15 domestic 
flights, the Manila airport office re- 
ported, and several other departures 
were delayed when crew members 
arrived late. ( Reuters ) 

Ex-Party Boss’s Son j 
Convicted in China 

BEUING — China has sentenced 
the son of the capital’s disgraced 
former Communist Party chief to 12 
years in prison for corruption, of- 
ficials said Tuesday. 

The No. I Intermediate People’s 
Court in Beijing convicted Chen 
Xiaotong, son of the former city 
party boss and Politburo member; 
Chen Xirong, of taking bribes and 
misusing public funds, a court 
spokesman said, adding that do ap- 
peal was filed against the June 28 
verdict and that Chen Xiaotong was 
already serving his sentence. 

The spokesman refused to com- 
ment on whether authorities 
planned to press charges against 
Chen Xitong, who was pinged hi 
April 1995 after a multumllion doJ-_; 
lar corruption scandal. (Reuters) 

- i". -i- - 

Elephants Protest - 

NEW DELHI — Forty elephants 
marched through die streets of . a 
northeast Indian town carrying 
protest signs in their trunks in a 
demonstration against a law that has 
pur them out of work. 

- - The lumbering Sunday protest- ■ 
was held in Kailasahar, a town in 
Tripura state where nearly 100 ele- 
phants have been pushed out of 
work by a recent Supreme Court , 
order, the Press Trust of India said 
Tuesday. The wider was part of a 
judgment prohibiting indiscriminate 
logging in the fast-depleting forests 
of the area by timber merchants. 

The protest was organized by ele- 
phant owners who loan their an- 
imals to timber merchants. It ended 
with an elephant giving to the local 
administrator a petition seeking a 
reversal of the court order. ( AP ) 

For the Record 

' ' "-1 

T wo farmers who have refused •! 
to sell their land for more than three 
decades to make way for a second 
runway at Tokyo’s overcrowded 
main airport agreed Tuesday to ne- 
gotiate selling their property. But 
officials say the airport is still 3 long 
way from "getting a new runway. 
Four other farmers with land es- 
sential to building a runway have 
not yet agreed to negotiate. (AP) 

Government jets and artillery 
pounded Tamil Tiger positions in 
northern Sri Lanka on Tuesday in 
Fighting that killed at least 57 
people, the military said, as soldiers 
resumed their drive into a jungle 
area held by the guerrillas. (AP) 


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KOREA: Energy Project Is a Milestone 


Continued from Page 1 of the Korean peninsula. “It will bring in 

a Western presence and expose North 
A South Korean official at the cer- Korea to Western technology," Bill 
emony, Chang Sun Sup, called the deal Richardson, the U.S. representative to 
“a kind of test or touchstone to know if the United Nations, said in a interview 


the divided Koreas can work together." 

While the immediate goal of the proj- 
ect is to pull the plug on North Korea's 
nuclear weapons ambitions, the ground- 
breaking Tuesday has a far broader im- 
portance. It is being heralded as a sig- 
nificant opening by North Korea to the 
outside world and a sign of hope for future 
agreements between Pyongyang and a 
skeptical international community. 

Eventually, thousands of South 
Koreans are expected to work and Jive at 
the construction site in North Korea — a 
remarkable breakthrough for the iso- 
lated country. U.S. officials said they 


Prime Minister Ryutaro Hashimoto of could not underestimate the impact on 


Japan plans to visit China next month. 


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North Korean laborers in working 
alongside South Koreans and learning 


here last week. “It also shows that the 
West is keeping its word." 

The groundbreaking Tuesday is per- 
haps the most important sign recently of 
grudging engagement by North Korea. 
While it continues to drag its feet on 
proposed four-party peace talks with the 
United States. South Korea and China, it 
has allowed U.S. teams to enter the 
country to search for the remains of U.S. 
soldiers killed in the Korean War. And 
Tuesday, the International Monetary 
Fund said it was sending a fact-finding 
mission to Pyongyang this month, at 
North Korea's invitation. 

The North Korean government would 
only allow a small pool of journalists 
into North Korean for the ceremony, and 


about how the South has prospered. The they were not allowed to stay overnight. 


North Korean people are taught that AH foreigners who attended had to go by 
South Korea is far poorer than the boat from South Korea, and no one was 
North. allowed to stray far from the site. 

For half a century it has been im- According to reporters at the site, the 
possible for families on either side of the port where their ship landed was drab 
military zone -that divides the Korean and filled with rusted ships. The only 
peninsula te yll each other on the thing in town that appeared to be freshly 
phone, bu.Tiiec&use of the project new painted was a large portrait of the coun- 
phone lines were installed this month. ■ try’s national founder, Kim II Sung. 


The first mail between the two nations in 
decades was delivered this week: a letter 
from officials at the construction site to a 
construction company in Seoul. Many 
hope lhai increased comacl between 
Nurih and South Korea will help forge 
what is seen as an inevitable unification 


Stephen Bosworth. executive director 
of Korean Peninsula Energy Develop- 
ment Organization, said Tuesday that 
the North Koreans viewed the project as 
"a window lo ihe outside world.” Mr. 
Bosworth is widely expected to fill the 
vacant post of U.S. ambassador to South 


Panel Seeks Advice 
On Pakistan Unrest 

A fence Frum e-Pressr 
ISLAMABAD — A high-level 
commission set up by the Pakistan 
government to promote sectarian 
peace held its first meeting here 
Tuesday, following about 150 
killings in recent months. 

The meeting reviewed the law 
and order situation and decided to 
seek “help and guidance" from re- 
ligious scholars in the task, an of- 
ficial statement said. 

The commission, co-cliaired by 
Religious Affairs Minister Raja 
Mohammed Zafar-uI-Haq and In- 
terior Minister Shujaat Hussain, in- 
cludes MPs, religious leaders and 
senior government officials. 

The meeting comes amid a lull in 
the spate of religious violence 
which has shaken Pakistan. 


Korea. Although South Korea and Japan 
are financing most of the reactor project. 
Mr. Bosworth said the United Slates had 
contributed SS0 million to $90 million. 
Some in Washington have questioned 
the wisdom of that expenditure. 

Many congressional Republicans 
have said that the United States should 
take a tougher line toward North Korea 
and that the United Stales has no guar- 
antees that Pyongyang will not try to add 
nuclear weapons to ils massive stock- 
piles of chemical and biological 
weapons. 


SINGAPORE; Goh Gives Testimony 




Continued from Page 1 hurled it.” Mr. Goh said. 

But Mr. Carman said Mr. Jeyaretnam 
denies using the courts to silence the had not endorsed Mr. Tang's statements 
opposition. It is a question. Mr. Goh has and questioned why his client was being 
said, of challenging allegations that sued. Was it because Mr. Jeyaretnam, a 
would undermine his ability to govern. lawyer, had acted for Mr. Tang? Was it 
The case against Mr. Jeyaretnam is in any way connected to this? Mr. Car- 
the second this year against a Workers' man asked. 

Party member. As in the first, the al- “If you are suggesting that we took 
legations stem from an election cam- action because he appeared for Mr. 
paign in which the PAP turned all its Tang, that is completely wrong,” Mr. 
weapons on Tang Liang Hong. Goh said. 

They accused Mr. Tang of being “an Bur Mr. Carman said Mr. Goh had 
anti-Christian. Chinese chauvinist" filed an affidavit earlier arauing that Mr. 
who endangered racial harmony in pre- Jeyaretnam’s alleged defamation was 
dominantly ethnic Chinese Singapore, motivated by malice because “of his 
which has substantial minorities of conduct when he acted as counsel for L 
Malays and Indians. Mr. Tang." I 

_ Mr. Goh and his colleagues sued Mr. “1 really have to sav vou have not 


Tang over a variety of comments, in- 
cluding the lying charge. Mr. Tang fled 
Singapore, saying his life had been 
threatened, and did not return to defend 
himself. The PAP leaders won a record 
8.08 million Singapore dollars ($5.65 
million) in damages in the case and then 


wuuuuk .1 wucii iic aciea as counsel tor 
Mr. Tang." 

"l really have to say you have not 
been truthful with the courtroom in the 
last five minutes.” Mr. Carman told Mr. 
Goh. who denied the charge but con- 
ceded there was “a connection" be- 
tween the suits and Mr. Jeyaremam's 
defense of Mr. Tang. 

Singapore newspapers that carried 


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■■M n T Mr ' s Ch u arge of Jy ,n g- troversy were not named in any of the 
™ r - V™* Hong has just libel suits. Mr. Carman asked Mr. Goh if 


placed before me two repons he has 
made to police against, you know, Mr. 
Goh Chok Tong and his people,’’ Mr. 
Jeyaretnam told the election rally. Mr. 
Goh's counsel. Tom Shields, said the 
comment amounted to an endorsement 
of Mr. Tang's charges, which had been 
widely publicized. 

”/! is as if Tang had prepared a Mo- 
lotov cocktail and gave it to Mr. Je- 
yarctnam and at that precise moment 


trovensy were not named in any of the 
libel suits. Mr. Carman asked Mr. Goh if 
Singapore newspapers — all owned by 
one company — were really “free." 

.. " **. *? 3 f ree press." Mr. Goh said, 
"but it is a free and responsible press.” 

He said the government retained the 
right of reply to any reports with which it 1 
disagreed. 


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Successful Day on Mir 
As Crew Plans Repairs 

Russians Expect Computer to Operate 
By Wednesday, and Then the Spacewalk 


INTERNATIONAL HERAL D TRIBUNE, WEDNESDAY, AUG UST 20, 1997 

EUROPE 


PAGE 5 


By David Hoff man 
Washington Post Service 

The space station, 
nnng smaU booster rockets, returned to 

2r® nn ? ! with the son Tuesday 
as me Russian-American crew replaced 

‘i “ defec ? ve ^-processing unit and 

' SaSdMon ^.* 6 rna “ COmpU,ef 

Russian officials said they hoped to 

S22 “ ie . corn P uter back in operation by 
Wednesday, which would allow two 
Russians and an American on board to 
move ahead later this week with a long- 
awaited internal spacewalk to carry out 
tnajor repairs on the damaged vessel. 

Without the computer and related 
guidance system, the Mir has to use 
special rockets to keep its solar panels 
properly angled to die sun to generate 
power. The craft has been running on 
reduced power since a June 25 accident. 
Ine power is also needed to run the 
navigational aids which keep the station 
m correct alignment, but have been shut 
off since Monday’s failure of the main 
computer. 

A computer device, the central data 
' i exchanger, that is on board the ship went 
■/ out just as the crew was attempting to 
dock with a Progress freighter. Russian 
officials and the National Aeronautics 
Space- Administration said the broken 
device shared information between the 
central computer and the Mir’s sensors, 
jets and navigational aids. The crew had 
an extra device on board and replaced it 
Tuesday. 

Viktor Blagov, deputy flight director, 
told Reuters that the crew was to begin 
testing the repaired computer Wednes- 
day, when there was enough power in 
Mir’s batteries. “We ma y fin d out that 
more computer sections need to be re- 
placed,” he said. If there were no fur- 
ther problems, be predicted the crew 
would try to put the computer back into 
action soon so that it could automat- 
ically guide the space station. 

. Although the latest glitch has not 
. i endangered the lives of the three-man 
) crew, it interrupted plans for the critical 
spacewalk to improve the electrical sup- 
ply on the aging craft. Mr. Blagov said 
the spacewalk inside a damaged module 
may be conducted Thursday, orpossibly 
Friday. NASA said it would be Friday. 
The aim of the spacewalk is to restore 
additional power to Mir by replacing 
cables severed after the accident. 


told * e ln «erfax news 
agency that a medical examination of 
the crew indicated that they are well, 
ine previous commander, Vasili Tsib- 
liev, complained of heart complications 
after several weeks of highly-stressful 
attempts to keep Miraloft. He was at the 
controls when the ship was rammed 
June 25 by a cargo vessel. 

When Mir runs low on electricity, 
many of the systems are shut down to 
conserve power, malting Life aboard the 
11-year-old craft unpleasant for the 
crew, who must periodically fire rockets 
on the Soy uz escape vehicle, attached to 
Mir, to keep the station properly aligned 
to the sun. It is also difficult and often 
impossible to carry out scientific ex- 
periments without power. The main 
oxygen-generating system. Elektron. 
also remained turned off Tuesday while 
Mir attempted to accumulate more 
power from the sun. The crew has been 
using back-up canisters for oxygen. 

•Mr. Blagov complained, in com- 
ments to Reuters, that the Russians have 
been using equipment until it breaks and 
that the computer crash Monday was 
caused by a lack of financing. Launched 
in 1986, Mir was supposed to serve only 
five years in space. 

1 ‘We are saving a lot of money on this 
scheme, but we really have to decide 
soon whether we need safety or money- 
saving,” Mr. Blagov said. 

Some workers at Mission Control 
have not been paid for months. But 
officials there have insisted that finance 
problems have not threatened safety. 

Mr. Blagov said the broken computer 
part had not been changed in almost 1 1 
years. 


A Canadian Vandal's Painted Protest "| Police Chief Is Seized 


Is awMI 


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ucDBi AIlroVTtK AwcHcd Pira 

A worker cleaning paint off a statue of Charles de Gaulle in 
Quebec City after it was vandalized Tuesday, on the 55th an- 
niversary of the World War II raid on Dieppe. A note found 
nearby said: “The blood of Canadians was spilled at Dieppe.” 


Count Matuschka, German Vintner, Is Dead at 59 


The Associated Press 

WIESBADEN, Germany — Count 
Erwein Matuschka Greiffeachu. 59, 
one of the best-known German wine 
makers, was found dead from a gunshot 
wound Tuesday, a day after his family- 
run business declared bankruptcy. 

Police said he apparently sbor himself 
in die head with his 9-mm handgun. 

Count Mamschka’s body was found 
on a bench about 200 meters (660 feet) 
from his Schloss Vollrads property in 
Rheingau. the wine-growing region 
west of Frankfurt. The police found a 


farewell letter and a will at his home. 

The Matuschka vineyards have been 
in the family for 27 generations. Over 
the past three years, however, the busi- 
ness fell an estimated 20 million 
Deutsche marks ($ 1 1 million) into debt, 
and Count Matuschka declared bank- 
ruptcy Monday. 

Legh Knowles, 78, Musician 
And California Wine Promoter 

NEW YORK (NYT» — Ugh 
Knowles. 78, a trumpet player in the 
Glenn Miller Orchestra who later became 


In Serb Power Struggle 

Hard-Liners Later Release Official 


chairman of Beaulieu Vineyard, one of 
California’s most famous wineries, and a 
passionate spokesman for all California 
wines, died of cancer Friday at a con- 
valescent home in Napa, California. 

Just out of the air force in 1948. Mr. 
Knowles answered an advertisement 
from the California Wine Advisory 
Board, a trade organization, and made a 
career promoting California wines. 

Mr. Knowles played with a number of 
bands before entering the service in 
1 942 but always fondly remembered his 
stint with Glenn Miller. 


Agenve France-Presse 

BANJA LUKA. Bosnia-Herzegovj- 
na — The power struggle for control of 
the Bosnian Serb republic continued 
Tuesday when a police chief loyal to 
President Biljana Plavsic was briefly 
arrested by security officers from a rival 
faction. 

The new chief of the Banja Luka 
police. Milan Sutilovic, had been at his 
desk less than two hours when officers 
from the Bosnian Serb state security 
service arrested him, but he was re- 
leased after refusing their demands that 
he resign, a senior policeman said. 

On Sunday. Mrs. Plavsic’s special 
police units seized the police headquar- 
ters in a move seen as stepping up the 
tensions between berself and hard-liners 
who support her predecessor, Radovan 
Karadzic, who has been indicted for war 
crimes. Mr. Karadzic is based in Pale, in 
the east of the country. 

Following Sunday’s seizure, British 
peacekeepers from tire NATO-led Sta- 
bilization Force in Bosnia and United 
Nations police ejected the special police 
unit, and UN investigators began sifting 
evidence of human-rights abuses com- 
mitted in the building. 

However, after the peacekeepers and 
UN officials left Monday night, Mrs. 
Plavsic signaled that the headquarters 
was now under her command by ap- 
pointing Mr. Sutilovic as the new 
chief. 

But Pale apparently struck back, with 
the security officers escorting Mr. 
Sutilovic from the building at 9.30 A Jil 
past guards who said drey did not realize 
what was happening. 

Mrs. Plavsic’s nearby presidency 
building was ringed Tuesday morning 
by Bos nian Serb troops armed with ma- 
chine guns and by special police units, 
both of which remain loyal to the pres- 
ident 

■ Wiretapping Evidence Found 

Mike O'Connor of The New York 
Times reported from Sarajevo: 

Once again demonstrating a more as- 
sertive stance by Western officials in 
Bosnia, some 300 British soldiers and 
UN workers searched a police station 
for evidence of electronic eavesdrop- 
ping on the president of the Serbian half 
of the country by her political rivals. 

They found extensive, sophisticated 
listening equipment boxes filled with 
audio tapes, and copies of faxes sent to 
and from President Plavsic's office, for- 
eign officials said. 


“There is substantial evidence that 
the president’s phones were tapped, her 
meeting rooms were bugged by the po- 
lice,” a foreign official said after the 
search of the five-story police headquar- 
ters in Banja Luka, die largest city in 
Bosnian Serb territory. “They were 
' running an espionage center.” 

North Atlantic Treaty Organization 
officers said they had also found 
weapons and ammunition beyond what 
police forces are allowed under NATO 
rules. 

The action Monday was the most 
recent case in which Western officials 
and NATO-led forces have intervened 
in ways that they have previously said 
are beyond their powers. 

On Saturday, the international 
agency responsible for overseeing ci- 
vilian aspects of the peace agreement 
interceded forcefully for Mrs. Plavsic 
by issuing what amounted to a decree 
that she had the right to dissolve the 
legislature and hold new elections. 

Last week, NATO officers notified 
Bosnian Serb paramilitary police units 
that they must either disband or follow 
strict limits on their activities. 

And in July, American soldiers began 
round-the-clock protection for several 
hundred Muslim and Croatian refugees 
returning to homes in a Bosnian Serb 
area, and British soldiers arrested a war 
crimes suspect and killed another who 
they said had resisred arrest. 

This time, as many as 300 British 
troops took over the Banja Luka police 
headquarters and then conducted a 
search for proof of what one interna- 
tional official described as “undemo- 
cratic behavior.” 

The official, who spoke on condition 
of anonymity, said it appeared that the 
police were working for a group of Mrs. 
Plavsic’s hard-line political rivals. 

While largely a figurehead. Mrs. 
Plavsic is president of the Serbian entity 
in Bosnia. She has been locked in an 
increasingly bitter power struggle with 
hard-line politicians, mcludingher pre- 
decessor, Mr. Karadzic. He and his al- 
lies wield much of the real power among 
Bosnian Serbs. 

Last month, Mrs. Plavsic, with the 
support of Western officials, asserted 
herself against Mr. Karadzic and his 
associates, dissolving the Bosnian Serb 
Republic’s legislature. That set off a 
healed legal challenge. The Constitu- 
tional Couit of the republic ruled on 
Friday that Mrs. Plavsic has acted il- 
legally, but Western officials in effect 
overturned the decision. 


An Unknown Pilot Finally Identified 

Toulouse to Honor an American Killed in Action There 53 Years Ago 


The Associated Press 

PARIS — Mary Haley Poole never 
thought she would know just what 
happened to her older brother DanieL, a 
U.S. pilot who perished in France dur- 
ing World War U. 

After months of research on two con- 
tinents, reporters for the French news- 
paper La Depeche du Midi pieced to- 
gether the final flight of Second 
Lieutenant Daniel Haley, Mrs. Poole 
said, and on Wednesday, city officials in 
Toulouse will unveil a stone pillar in- 
scribed with the name and rank of Lieu- 
tenant Haley, who died Aug. 17, 1944, 
while on a bombing run over an airport 
held by the Germans. 

“I never thought we would find out 
this mystery,” Mrs. Poole. 72, said by 
telephone from Toulouse. “It’s over- 
whelming.” . . TT . . - 

Mrs. Poole said U.S. armed forces 
officials told her parents that Daniel, 
then aged 20, was missing in action. 
■After the war ended, the MIA tag was 
automatically changed to KIA killed 

■inaction. _ , , 

A body was eventually found ana 

buried in a militaiy cemetery in Liege. 


Belgium, but the family was never en- 
tirely certain and never learned the cir- 
cumstances of his death from the U.S. 
military, die said. 

Several months ago. 53 years after his 
plane was shot down, Mrs. Poole was 
contacted by reporters from La Depeche 
du Midi, who had researched the story 
for the Toulouse daily. 

Dozens of people had seen the Lock- 
heed P-38 at low altitude during a straf- 
ing and bombing mission over the 
Toulouse airport in 1944, she said. The 
story of the crash was well known in 
Toulouse, in southwest France, and 
Lieutenant Haley was referred to as the 
“unknown pilot.” 

The account in La Depeche du Midi 
was based on die reporters’ research in 
U.S. military archives and conversa- 
tions with Roger Weatherbee, one of 
two surviving pilots of the three-plane 
mission, Mrs. Poole said. Several wit- 
nesses contacted La Depeche do Midi 
after a series of articles was published, 
adding more detail. 

The plane, which had taken off from 
Corsica, was hit on the right engine and 
the pilot tried to bring the nose of the 


plane up so he could jump, Mrs. Poole 
said she had learned. 

But the maneuver failed and he rolled 
the plane over to try and bail out upside 
down. The pilot’s parachute opened, but 
he landed in trees and then plunged head 
first into a concrete wall — a fall so hard 
no one could have survived. 

The Germans swooped in and carried 
off the body wrapped in the parachute, 
leaving the identity of the pilot a mys- 
tery. 

Mrs. Poole said that the reporters 
from La Depeche du Midi did research 
at U.S. air force archives in Mont- 
gomery, Alabama, which led them to 
Mr. Weatherbee. Mr. Weatherbee, now 
72 and active in veterans’ reunions, 
helped the reporters locate Mrs. Poole, 
who lives in Charlotte, North Carolina. 

Toulouse city officials decided to 
honor Lieutenant Haley by erecting a 
stone slab this week with his name and 
rank on the site where his plane crashed. 
The city is also considering renaming a 
street in his honor. 

Mrs. Poole is accompanied by her 
two daughters, and Mr. Weatherbee also 
came to Toulouse for the event. 



Bonn Resumes Holocaust Talks 

BONN _ Under fire from the United States and Jewish 
B fieman officials resumed talks Tuesday on com- 
K^iig Ho^aust survivors in Eastern Europe for losses 

suffered du ^f 100 billion Deutsche marks 

G erman y has paid ^ Wesu those 

ffiSSSKTs -u - ** *» 

pensation dunng the C° - BonJ1 offered one-time 

After C5en«uww“ r s e urviv0I5 u, Russia and parts of 

KSeSM group l and "* sov ' 

eminent say average age of the 

"The matter general secretary of 


Jewish for monthly German pensions of 

Soviet bloc to be djgRS victimS J, the West. Estimates 
500 marks. the surviv0f5 in Eastern Europe 
nf the number oi Hoioc 

range from 1 Kohl'* government has pledged to 
Chancellor Helm two-day round of talks is the 

find a solution in 1990. (AP) 

latest of a senes si 

Germans Seize Beef Imports 

HAMBURG — Ju,y 
illegally .mpor.ed n ion ban. the pubhc pros- 

See said here ^^f^cstoms officiate jn 

“52 annuu nu'emen' on?i ,| nglf Bn, am 

this port city fcild Fjw* week in violation of the EU 
were seized in G ^^ use of “mad cow disease, 
export ban imposedbe^^ 


The public prosecutor’s office said 40 beef shipments 
from Britain reached Germany during the period. Part of the 
imports were resold to German companies. A Hamburg 
importer told investigators he believed the beef originated in 
Ireland, which is not affected by the ban imposed last year. 

According to documents seized at the importer’s offices, 
about 440 tons were re-exported to Eastern European 
countries. Of these, 116 tons were stored for a Limited 
period and resold to four companies in the German states of 
Bavaria, Lower Saxony and Saxony. (AFP) 

3 Russians Seized in Georgia 

TBILISI, Georgia — Three Russian peacekeepers 
serving in the foimer Soviet republic of Georgia have been 
taken hostage, the Russian Embassy said Tuesday. 

An embassy spokesman. Alexei Savinskr, said that two 
officers and a soldier had been captured by Georgian 
gunmen near the town of Rukhi, in a security zone between 
Georgia and its breakaway province of Abkhazia. 

The 1 , 500 -member Russian peacekeeping force patrols 
a buffer zone between Georgia and Abkhazia. The two 
sides fought a bloody ethnic conflict in 1992-93. Abkhazia 
has run itself as a de facto independent state ever since but 
has not gained international recognition. 

Tamaz Nadarishvili, head of the former Georgian-in- 
stalled government in Abkhazia, now in exile, said the 
hostaee-takere were demanding the bodies of two Geor- 
gia he claimed had been killed by Abkhazian police units 

on their side of the buffer zone. 

Violent incidents are common in the security zone and 
hoth ihe Russian peacekeepers and the Abkhazians blame 
Heoreian sabotage groups for a spate of mine-laying 
incidents and other armed attacks. 

President Eduard Shevardnadze of Georgia has vowed 
. _ repain control over Abkhazia, bui he and the separatist 
, Vladislav Ardzinba. last week disavowed the use of 

forcero resolve the issue. (Rentem 


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Istanbul, September 30 ft October 1 , 1 997 

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-PAGE 6 


INTERNATIONAL 


Socket Barrage Lifts Israel’s Border Tension to New Level 


By Douglas Jehl 

Net* York Times Sendee 


■ JERUSALEM — The conflict in 

■ southern Lebanon reached a tense new 
■stage Tuesday after Islamic guerrillas 

■[filed dozens of Katyusha rockets into 
' northern Israel to avenge a deadly attack 
. Monday by militiamen aligned with Is- 
rael. 

The cross-bonder barrages were by far 
'the heaviest since clashes between 
- Hezbollah guerrillas and Israeli forces in 
southern Lebanon erupted into full-scale 
fighting in April 1996. Rockets rained 
.-down across Israel’s northern border, 
• .causing only minor damage and injuries, 
but sending those who live in border 
[settlements scurrying by the thousand 
into underground shelters. 

At least for now, it appeared that 
Israel had chosen to avoid retaliation. 
While warning, sternly that Israel stood 
ready to protect its civilians. Prime Min- 
ister Benjamin Netanyahu said Tuesday 
that “the immediate task is to stop the 
cycle of violence.” 

’ Preoccupied by Israel's unraveling 
partnership with the Palestinians, Mr. 
Netanvahu and his aides appeared to 


have little eagerness for sending Israeli 
forces deeper into Lebanon now. Last 
vear’s air and artillery onslaught, which 
lasted 17 days, was waged by Mr. Net- 
anyahu's predecessor. Shimon Peres, 
and it did not achieve clear results for 
either side. 

Tuesday, for the first time since the 
April 1996 cease-fire, in which all sides 
agreed to halt attacks on civilians, 

Hezbollah openly declared that it had 
carried out what it called rocket attacks 
on “north occupied Palestine.” 

And the prime minister's statement 
was unambiguous. As relayed by a 
spokesman. Mr. Netanyahu said that Is- 
rael would “ respond severely to attacks 
on civilian lives, and Israel hopes this 
message will be absorbed on the other 
side in all its meaning.” 

A senior United Nations official in 
Lebanon said that Israel had relayed buildings Tuesday in the m 
word to Hezbollah that “if there is no town of Kiryat Shimona, 
more firing from your side, we will hold 
our fire.” adding thar quiet had seized 
the border zone. 

Nevertheless, Israel's Channel Two 
television broadcast footage Tuesday 
night showing that Israel was moving 
additional firepower, including heavy ar- 


tillery, into southern Lebanon, although 
as nothing more than a show of force. 

The artillery bombardment Monday 
by pro-Israeli militiamen of the coastal 
city of Sidon prompted a view in some 
quarters that the action had left Hezbollah 
but with little option but to strike back. 

Monday's indiscriminate attack killed 
seven civilians, including an infant who 
died overnight, and Israeli officials tried 
to distance themselves from it. calling it 
irresponsible. Tensions on both sides 
nevertheless have reached new heights 
after 10 days in which more than a dozen 
people have been killed in southern Leb- 
anon, and in which Israel and its allies, 
and Islamic guerrillas, have taken steps 
that appear to violate their 16-month-old 
agreement to avoid attacks on civilian 
populations. 

As Mr. Netanyahu toured damaged 
in the northern Israeli 
he declared: 

4 ‘ We obviously don *t seek an escalation. 

But equally, we won’t accept this as a pro-isnu 
way of life.” General Antoine Lahad. an Israeli-sup- 

The prime minister's task in tamping ported ally, 
down pressure to retaliate was simpli- The 200-member force that unleashed 
fied by the fact that among thefew Israeli the barrage operate from the Christian 
civilians who suffered scrapes or enclave of Jezzine, which lies north of 


scratches in Tuesday morning’s attack, 
only one man was described even as 
having been “slightly wounded.” 

A total of 80 Katyushas were 
launched from southern Lebanon in two 
early-morning barrages that began just 
after 7 AJV4., and 45 of them landed 
within Israel's borders. But these ap- 
peared to have been targeted widely, a 
tactic that Timor Goksel, political ad- 
viser to the United Nations peacekeep- 
ing mission in southern Lebanon, de- 
scribed as “calculated Firing” aimed at 
minimizing damage or loss of life. 

Israelis living wi thin rocket range 
nevertheless expressed fear and frustra- 
tion at what they called Tuesday’s un- 
settling sign that an agreement they had 
believed would guarantee them some 
safety appeared to be breaking down. 

It was in the hope avoiding renewed 
Katyusha strikes that Israel sought Mon- 
day to distance itself from the attack on 
Sidon, although it was carried out by 
Israeli militiamen who report to 


the strip of southern Lebanon that Israeli 
forces and General Lahad's South Leb- 
anon Army maintain as a security zone. 
In the hours after the attack, Israeli of- 
ficials repeatedly described the battalion 
as an autonomous force that operates 
entirely outside of Israel ’s control.. 

But although a military spokesman 
left the opposite impression on Monday, 
senior Israeli officials, including Uri 
Lubrani, the coordinator of Israel’s op- 
erations in southern Lebanon, were open 
Tuesday in acknowledging that the Is- 
raeli Army provides the militiamen with 
arms, ammunition and other supplies. 

The force calls itself die 20th Bat- 
talion of the South Lebanon Army, and 
its firepower includes one pair each of 
155 millimeter and 130 millimeter how- 
itzers that were used in Monday's bom- 
bardment.lt is considered important 
enough far Major General Amiram Lev- 
ine, head of Israel’s Northern Command, 
to have visited tbe battalion on July 17. 

Its decision to open fire upon Sidon 
was in retaliation for 3 roadside bombing 
that claimed (be lives of two teenagers 
whose father had been among the force’s 
commanders until his assassination four 
years ago. 


Urg! 


Iran President 
;es 4 Fresh’ 
Foreign Policy 
In Key Speech 

Reuters 

TEHRAN — President Mohammed 
Khatami told Parliament on Tuesday 
that the Islamic republic needed an “ac- 
tive and fresh presence” in its foreign 
relations. 

"In foreign relations, we need an ac- 
tive and fresh presence based on our 
independence and national interests.” 
he said before a debate on his cabinet 
appointees. “It is important for us to 
defuse tensions and seek friendship and 
brotherhood in the international 
arena.” 

“We have to exploit all possibilities 
to promote and progress our country in 
the world based upon the three principles 
of dignity, wisdom and expediency.” 
Mr. Khatami said. 

Iran has no ties with the United States, 
which has imposed sanctions on the Is- 
lamic republic, and its relations with 
Europe are often tense. Over the past 
year, it has w orked toward improving its 
fragile ties with its Arab neighbors in the 

Analysts do not expect Mr. Khatami, 
who was swom in on Aug. 4, to make 
radical changes in foreign policy, which 
"is the domain of the supreme leader. 
Ayatollah Ali Khamenei. 

Mr. Khatami addressed Parliament 
shortly after it opened for a debate on his 
proposed cabinet. It is expected to vote 
Wednesday on the 22 cabinet nominees- 

He asked Parliament in his 50-minute 
address to give its vote of confidence to 
all the nominees so ”th3t the stagnation 
" we are witnessing will come to an end as 
_ soon as possible.” 

The first three legislators who spoke 
after his address said they supported all of 
his nominees. 

But Islamic hard-liners, who dominate 
e Parliament, are expected to veto at least 
one of the appointees chosen by Mr. 
■Khatami, a moderate 54-year-old 
Muslim Shiite cleric. They especially 
object to his proposed minister of culture. 
Ataollah Mohajerani — a controversial 
figure for his support in 1990 of a re- 
-- sumption of talks with Washington. 

The final make-up of the cabinet is 
seen as being crucial to set a reformist 
tone for Mr. Khatami’s four-year term. 

Mr. Khatami told the 270-member 
Parliament thar his administration was 
based on the rule of law and increasing 
popular participation in politics and oth- 
er areas of life. 

“The two major principles of all plans 
and programs are following the rule of 
law and encouraging people’s partic- 
ipation in political, social and cultural 
fields. 

“We have had many crises in the past 
years,” he said. “Now it’s the era of 
consolidating and stabilizing the Islamic 
' republic. This requires a powerful state, 
but the basis of a powerful state is proper 
relations with me people so that the 
system should be based on law.” 

Mr. Khatami was swept to power in 
elections in May . thanks to support from 
youths, women and the middle classes 
who see him as a leader capable of 
enacting social and economic 
freedoms. 



KLrr» j-1V 

The 19th-century villa, left, known 
as the Czetwertynski Palace, was 
razed in the early 1960s to make 
way for the new L.S. embassy in 
Warsaw. Albert Czetwertynski, 
above gesturing at the present-day 
embassy, and his family are de- 
manding that the United States 
give up the lease on the property. 

ni S'H* 


EMBASSY: Polish Family Demands U.S. Return Property Confiscated by Communists 


Continued from Page 1 

them clothed and fed. But in 1954, the 
elder Czetwertynski was arrested in a 
purge by the Communist government, 
ironically on a charge of spying for the 
United Slates. He denied the accusation. 

His lawyer later told family members 
that the charge was bogus and that the 
arrest stemmed from the fact that 3 secret 
police raid at their home bad uncovered 
S 1 50 in cash — possession of which was 
illegal at the time. 

Upon his release from prison in late 
1956 — the beginning of a post-Stalin 
political thaw — his family said he was 
startled to find a U.S. flag flying over his 
rental property. 

The villa, he was told, had been turned 
into an embassy. 

Stanislaw Czetwertynski. his sons re- 
call, was puzzled and became angry when 
his attempts to contact U.S. officials were 
repeatedly rebuffed. “My father always 
thought. ‘A democratic country like the 
United States — there must be somebody 
who will listen to me,’” said Albert 
Czetwertynski, now 57. 

For years, the Czetwertynskis sought 
recompense. In 1960, the family fled to 
Canada, while other relatives moved to 
Belgium, France and Switzerland. 

But by then, the U.S. government was 
busy tearing down their villa: by 1963, it 
was replaced with the modem eyesore. 

Today, questions about the Czetwer- 
tynski case elicit a single-page statement 
from embassy officials. 

The statement does not dispute the 
Czetwertynskis’ story but defends U.S. 
legal rights. 

(t claims that the United States “first 
acquired rights’ ’ to the site in 1 945 — an 
eye-opener to the family. It says the 
embassy signed a lease in 1956. That 
lease, it says, remains valid. 

"Embassy negotiations to acquire 
and use the property were conducted 
with the legal authorities of Poland, and 
the United States government has 
throughout acted according to the law of 
Poland,” the statement says. 

“We regret the family’s continuing. 


understandable anguish over this deeply 
felt issue, but their quarrel is with the 
government of Poland, not that of the 
United States.” State Department of- 
ficials contacted in Washington would 
not discuss the case. 

No official ever spoke to Stanislaw 
Czetwertynski, now feeble and infirm. 

Albert Czetwertynski, who grew up to 
be a businessman and maintained his 
family’s claim to the property, was 
called to the embassy in 1995. 

The United Stares, he was told, bore 
no responsibility. 

But documents from U.S. National 
Archives sketch out long discussions 
between the Americans and Poland’s 
Communist rulers to turn the villa into 
government property. 

The talks began in 1955. 

U.S. archives show that in 1956 — 
when Stanislaw Czetwertynski was in 
jail — the U.S. and Polish governments 
signed a contract that, despite existing 
Polish law, gave die Americans “tem- 
porary ownership' ' of the Czetwertynski 
villa and land. 

For $992,500 in congressional appro- 
priations, the Americans assumed land 
rights there for 80 years — until 2036 — 
with an option for another 20 years. 

For $100,000 more, the two govern- 


ments agreed that the Americans con- 
trolled the fate of the villa. 

The sale of the villa is central to the 
current dispute. 

The Czetwertynskis are unable to claim 
land ownership; what they argue is that 
they were wrongly deprived of the villa. 

Documents show the Polish govern- 
ment had once planned to designate the 
villa a “historical monument:” the 
Americans apparently persuaded them 
otherwise. The archives also show that 
the Americans sought protection from 
any Pole who could claim harm from the 
deal. The U.S. negotiators wanted the 
Polish government to promise, as part of 
die lease, to “cancel without reimburse- 
ment ail burden" or claims by the pre- 
vious owners. 

No document shows whether the orig- 
inal owners were ever contacted about 
the plans for 29 Aleje Ujazdowskie, 
which was widely known in Warsaw as 
the Czetwertynski Palace. 

"Everybody knew who we were,” said 
Albert Czetwertynski. “and what prop- 
erty we owned. How could the Americans 
not know if they were interested in that 
bouse? And the Communists? They knew 
where to find my father if there were 
cjuestions about ownership. He was in the 
jail that they put him in.” 


Unofficially, U.S. government offi- 
cials concede that the claims are trou- 
bling. But the embassy is not likely to 
interfere in a matter that is seen as legal 
and financially beneficial for the U.S. 
government. 

In Poland, the Czetwertynski family- 
case is complicated by Polish law. Un- 
like other East European countries, such 
as the Czech Republic, Poland has yet to 
adopt a restitution law. 

Today, the land on which the villa 
stood is probably worth millions. 

The family wants recompense for its 
lost home, but more important, it is 
waiting for the U.S. government to ex- 
plain its 40 years in residence at 29 Aleje 
Ujazdowskie. “My case is not with the 
Polish government,” Albert Czetwer- 
tynski said. “The Communists ignored 
human rights. The Americans took ad- 
vantage of that. I want to meet with the 
Americans and hear what they have to 
say for themselves.” 

■ Romania Evicts Congolese 

Romanian authorities have evicted 
diplomats of the Democratic Republic of 
Congo from their Bucharest embassy 
building because about $1.4 million in 
rent has not been paid, Reuters 
Bucharest quoted officials as saying. 


briefly 


in 


Fighting in Nigeria 
Leaves 30 Dead 

LAGOS — At least 30 people 
have been killed in three days of 
fighting between two communities 
in the southwest Nigerian city of Ife, 
newspapers reported Tuesday. 

Thousands of residents have fled, 
leaving the streets to combatants 
and looters. Fighting erupted at the 
weekend between Ife and 
Modakeke communities aimed with 
shotguns, cutlasses and clubs, over 
the relocation of a local government 
headquaners. 

The Daily Times said more than 

1,000 paramilitary police had been 
sent to Ife to restore order, while 
local traditional rulers .were told by 
the military authorities to bring their 
people under control. f Reuters ) 

Comoran Rebels 
Agree to OAU Talks 

ADDIS ABABA — The Comor- 
an government and separatists from 
two breakaway islands have agreed 
to talks sponsored by the Organi- 
zation of African Unity, an OAU 
statement said Tuesday. 

The secessionists of Anjouan and 
Mobeli islands want renewed lints 
with France, the former colonial 
power, either returning to French 
rule or as independent micro-states 
in association with Paris, which is 
rejecting their overtures. 

The date of die conference has 
not been set, bnt it is expected to 
lake place within the next two to 
three weeks. The likely venue is 
Addis Ababa, the OAU headquar- 
ters. (AFP) 

At Last, Polar Base 
Sees Light of Day 

MCMURDO STATION, Ant- 
arctica — The sun rose Tuesday 
over McMurdo Station and its 154 
Americans — for the fust time in 
160 days. 

Its return helps break the winter 
isolation at the U.S. base, where 
staffers were preparing for the ar- 
rival of the first flights from the 
outside world since winter set in. 

On Thursday, the U.S. Air Force 
will deliver 60 staff members, fresh 
food, three tons of mail and news- 
papers. Though spring at the bottom 
of the world is still a month away, 
researchers got an early start on 
celebrating with a swim Saturday in 
the waters off New Zealand's 
nearby Scott Base. (AP) 

Peasants in Brazil 
Overrun 2 Ranches 

SAO PAULO — About 200 
peasant families have overran two 
ranches in southeastern Brazil to 
pressure the government to speed its 
land distribution program. 

The peasants took over ranches 
Monday in Pontal de Paranapan- 
ema. in far western Sao Paulo state, 

■ 'to alert authorities that we are run- 
ning out of patience,” said Gilraar 
Mauro, a leader of the Landless 
Rural Workers Movement. 

He said fhe group had stopped its 
land takeovers in die region for six 
months. “But the government has 
done norhi ng, * ’ he said. (AP) 

For the Record 

Two people were killed and 30 
injured when an unidentified per- 
son threw a hand grenade into a 
restaurant in Bogota, police said 
Tuesday. (Reuters) 


CUBA: U.S. Weighs an Easing of Travel Ban During the Pope's Visit There in January 


Continued from Page 1 

send a cruise ship to cany more than 

1 ,000 people to Cuba for the visit, ac- 
cording to other administration officials, 
who spoke on condition of anonymity. 

Peter Coats, a special assistant to 
Bishop Thomas Wenski. auxiliary bish- 
op of Miami and director of Catholic 
charities there, welcomed the admin- 
istration’s consideration, noting that the 
Pope’s visit would have major rever- 
berations for Catholics in the United 
States and Cuba. 

Reflecting the political sensitivities of 
anything to do with Cuba, administra- 


tion officials have also discussed the 
easing of the restrictions with members 
of Congress prominently involved in 
policy toward Cuba. They include Rep- 
resentative Robert Menendez, Democrat 
of New Jersey, and Representative 
Deana Ros-Lebtinen, Republican of 
Florida. 

Ms. Ros-Lehtinen, whose district in- 
cludes a politically potent population of 
Cuban -Americans, expressed some re- 
servations. While she supported the 
Pope and his message, she said she op- 
posed allowing pilgrims from the United 
States to travel to Cuba for the visit. 

“This is an end run on the embargo,” 


she said, suggesting any easing would 
lead to further attempts, despite the ad- 
ministration’s insistence otherwise, “if 
you want to listen to the Pope, buy his 
tapes or visit him somewhere else.” 

The Pope, who is credited by some 
with accelerating the collapse of com- 
munism in Eastern Europe, accepted an 
invitation to Cuba last fall when he met 
with President Fidel Castro at the Vat- 
ican. 

A visit by the Pope anywhere carries 
enormous significance, but the trip to 
Cuba, which has evoked memories of his 
visit to his native Poland in 1979. offers a 
chance to bolster the church's revital- 


ization in Cuba after years of repression. 

After it came to power in 1959, Mr. 
Castro’s government nationalized church 
property and closed Catholic schools. In 
recent years, though, the government has 
eased restrictions and allowed Cubans 
more freedom to worship. 

The visit could also highlight the em- 
bargo. imposed by President John 
Kennedy on July 8. 1963, which the 
Vatican has opposed on grounds that it 
hurts Cuba's people more than its gov- 
ernment 

The embargo also forbids all com- 
mercial trade and restricts relief assist- 
ance, like gifts of medicine. 


Tribal Strife in Kenya Moves to Sea Resort 


Cnnf*ini Ik Our Otyvirlin 

MOMBASA, Kenya — Officials said 
rwo people were killed Tuesday on 
Kenya's coastal region, and arsonists 
overnight set ablaze more than 1 00 curio 
stalls on the seafront in a resort town. 

Hassan Hadji, deputy commissioner 
of Kenya's Coast Province, said at a 
news conference thai the arson attack 
took place in Malindi. 120 kilometers 
north of the port of Mombasa. 

Mr. Hadji said the police treated the 
arson as “a criminal act.” He said no 
one had been hurt. But it was the first 
time in seven days of violence that at- 
tackers hil targets linked to tourists in 
Kenya and the first violence reported 
from as far north as Malindi. 

In Nairobi. President Daniel arap Moi 
warned Kenyans on Tuesday against tri- 
balism. saying the country had been 
“pushed to the wall" repeatedly, but 
Kenyans knew i( was unlike Rwanda and 
Burundi, which were ravaged by ethnic 
haired. 


Mr. Moi's government and the op- 
position. heading for elections later this 
year that threaten to bring more trouble, 
have blamed each other for the string of 
brutal attacks on the coast. 

Mr. Hadji said 150 people armed with 
bows and arrows and assault rifles at- 
tacked a seven-man police patrol Tues- 
day in the village or Mtwapa. north of 
Mombasa. In the exchange of fire, the 
police shot and killed one person. 

He said that early Tuesday, a man was 
killed by vigilantes in Kitaruni. nine 
kilometers north of Mombasa, when he 
tried to bum a house, and that five people 
were slashed with machetes at Niopanga 
when thugs burned three homes and 
attacked the owners. 

The two deaths Tuesday brought the 
death toll in seven days of violence in the 
coastal region to at least 37. 

Malindi. which has been settled since 
the 14th century, has developed into a 
tourist center catering primarily to Ger- 
man and Italian tourists. (Reuters. AP) 


Outline of Tentative Fact 

The Associated Press 

Key components of a tentative 
agreement between striking Team- 
sters and United Parcel Service: 

Contract: The union wanted a 
two- or three-year deal, but agreed 
to a five-year contract. 

Jobs: The company proposed 
creating 1,000 full-time jobs. The 
agreement calls for UPS to create 

10,000 from existing part-time po- 
sitions over the life of the contract. 

Salary: The $8-an-hour base pay 
goes up 50 cents. The average pay of 
a UPS driver. $19.95 an hour, will 
increase by $3. 1 0 over the life of the 
contract. The pray for a part-time 
woiker will go up by $4. 10 an hour. 

Pensions: The company wanted 
to withdraw from multi-employer 
pension plans and to create a new 
retirement plan solely for UPS 
workers. Under the agreement. UPS 
withdrew its proposal and agreed to 
keep the existing system. 


UPS: Accord May Be a Signal That Labor Is Reco vering Strength 


Continued from Page 1 

Also, the company shelved its pro- 
posal to withdraw UPS pensions from 
the Teamsters multiemployer pension 
plan — a proposal the union adamantly 
opposed. 

The labor victory sends a powerful 
signal to companies and employees 
throughout the economy, where part- 
time work has increased in recent years, 
helping companies score gains iri pro- 
ductivity and profits. 

“The most important upshot is that 
management doesn 't have as free a hand 
to do whatever it wants to do to its 
employees. Now it has to calculate the 
costs of labor pushing back." said Geof- 
frey Garin, president of Peter D. Han 
Research, which conducts polls for un- 
ion and Democratic causes. 

For workers, the strike settlement 
dovetails with a labor market with low 
unemployment and a scarcity of workers 
for some jobs. At UPS and elsewhere. 


“we’re going to see improving settle- 
ments for workers, with some rise in 
wages. 

There have been very strong gains in 
profits but there haven’t been strong 
gains in wages." Mr. Kimbell noted. 

Whether rising costs of labor would 
set off rising inflation remained a ques- 
tion after the labor victory. 

However, in the larger sense of the 
“Main Street” economy, the settlement 
could provide a boost to consumer con- 
fidence. 

“In general, this should reassure 
people." Mr. Kimbell said. “Now it’s 
not just thai the unemployment rale is 
low. but there's also a prospect for better 
jobs.” 

The 15-day strike proved a turning 
point in many ways. Just as the crashing 
of the air traffic controllers strike in 1981 
signaled an era of corporate restructuring 
and labor retreats, so the UPS settlement 
may presage a period of growing strength 
tor union members and other workers. 


Notably, the Teamsters enjoyed broad 
public support in the UPS strike. 

A poll released Friday showed 55 
percent of Americans siding with the 
strikers, vs. 27 percent backing the com- 
pany. 

Although the cost of strikes normally 
is punishing to labor and management 
alike, this will encourage more unions to 
walk out io win their demands. 

As much as labor won at the bar- 
gaining table, it also scored a significant 
victory with the public in making its 
point that many workers want full-time, 
not part-time. jobs. 

. However, a sizable number of people, 
including retired^ persons, homemakers 
and students, often welcome flexible 
schedules and the work of many busi- 
nesses demand that people work odd 
hours. 

Still, part-time workers earned lower 
wages than full-time employees and that 
rankled enough lor the union to elevate it 
into a pivotal strike issue. 


f 


i. 


$ 


& 



PACES 





INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, AUGUST 20, 1997 


RAGE 7 


iSLi® & ^ J • i THE INTERMARKET 


^ +44 171 420 0348 




telecommunications ^ 


Save £ 85 % On 
International Calls! 

The Original 

kallback 


EajU oThe U.S. From- 

_ . 


.Germany 
U.K. 

Japan 
Hong Kong 


$0.31 

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$0.38 

$0.46 



AT4T FI bar Optic Networks ■ 24-Hour Customer Service 
•tombed 6 Second Billing - Ideal (or Home, Office. 
Holets and Cell Phones 


Manors get depundabto, hQtquSty service” I Agents Wanted 

wwrw H»wa T^w, 1 cell 1-206-378-3S61 

Tel: 1.206.599.1991 • Fax: 1.206.599.1981 

417 Second Avenue West ■ Seattle, WA 98119 USA 
wwvrJjallback.com • Email: lnfaekanback.com 



NOAMEX INC. 

URGE GRADER OF USED CLOTHING 
For women - men ■ ctiidren 
PREMIUM i DOMESTIC QUALITY 
DENIM JEANS & DENIM JACXETS 
Eroon txg bale; small bales boi*s 
AFRICA ASIA., EUROPE, MID-EAST 
CENTRAL & SOUTH AMERICA 
Tel 718-342-2278 Fax.7i8-342-2258 US 


BUYING OUTLET FOR THE LARGEST 
Trading Companies Branded A Luxury 
goods Fragrance&cosiTMtics, watches 
pens, china owe crystal, hancfcaqs, 
Qpfcal frames, sunglasses trie agars, 
Gucd. Tag Heuer, Cartier. Weagewoai. 
Swsro'jski Hersnd. Feiragamo Piada, 
Hermes etc. Please caMax TRADING 
DESK Tel USA +1-212.B07-0973 Fax 
USA +1-212-907-9050 All calk Healed 
mffi ulmasi confiderxs. 


CASKETS 

American Casket lor export 
Brame a representative 
Far ttomaHor tax irr the US 
1603) 9264630 


LUXURIOUS BQDYfflATH SOAP 4 baa 

per unit, total 300 grp. 5.30 USD. 

36 per case, mwnum ICO cases. Visa S 
MasterCard Fa* 1 -514-747-8901. 


DOMINICAN CIGARS. 9 styles, hand 
rolled, volume purchases only. 
Telefax USA+95+474-3866 


LEVI S01S. Used and Me*. Quality 
jeans direct from the USA Honest and 
Retatte Fax. 5C3*2W748 USA 


READERS ARE ADVISED 


that t ha International 
Herald Tribune cannot be 
held responsible for loss or 
damages incurred as a 
result of transactions stem- 
ming from advertisements 
which appear in our 
paper. It is therefore rec- 
ommended that readers 
make appropriate inquire 
res before sending any 
money or entering into 
any bmding commitments. 


OFFSHORE BANKS 
COMPANIES & TRUSTS 
IMM1G RATION/PASSPORTS 

Banb'ng-Accounrr-j-Seaetanaf 

Vat RegaraWiHnvbCfiq 
Mafr-Ptone-Fax Sevres WorbwUe 

Aston Corporate Trustees 

Aston House, Douglas. Me of Man 
Tut +44 «n 1624 626591 
Fr +44 (ty 1624 625126 

London 

Teh +44 (0) 171 233 1302 
Far +44 (0} 171 233 1519 

E Mail: 8ston§enterpr!se.net 

www.astofl-tonLdefflon.caiA 


QUALITY T-SHIRTS horn Hamburg. 
Ready stock, large quantities for sale 
Fax uermamr <49-40-371726. 


SMALL ARMS ANMUN1T10KMLITARY 
egupmeri and supplies, lowest pnees. 
vabrne Ortf. FAX USA +B5+47M86E 


T-SHUTIS B SMUBEN 501 JEANS S 
SI1PAJR SHRIMPS 5 S27. 1-6 KG 
FAX TEL 44 101151 707 2543 


TAMAGOTCHI TOY (Pifpy & Dnsaun 
1 00 .000-1.000 £03 ins. Low pnee 
Fax 7H-67W255 USA 


USED LEVI 591 JEANS - All colon & 
wades. For pnee W FAX 801-561-3849 
USA RECYCLEWEAR 


Business Opportunities 


LIVE AND WORK IN FRANCE 
CANAL BARGE COMPANY 
Estabfebed 1993, 104 It chart* DoaL 
6 passengers. A crew, excetert 
coraoon, highest rapmatm mintous. 

ua«y vehixit. extssng cfierwie, 
stan-t® support artmoed nei keang 
posstte. attire on lormatses/vcrkng 
papers USS40MO Wrte B. Box 036Z 
I h T 92521 MeudV Calex. France 


HORS WANTED FOR ft NAIL 
hie *t the USA Knowledge of 
a lens helpful Contact Barton 
SS Eroort PO Bo* 6117®. 
inn. Fl 33261 USA Fax: 3® 
Tet 305 692 'W26 


SPORTS i Drwmq Licences : 
Camouflage p3S^ansiSecm 
iouras 6M. P O Box 70302. 
3610 . Greece. Fax 896*152. 

■ gtfalHTiwiev can 

J INTERESTED IN MAKING a 
imspwh and Residing mine 
r more rtamatioa Hay a Pen . 

IGLE DISK SOFTWARE mS 
IS si 20 to stan _ info. 
er«its org or call 902-M3-2620. 


ID SECOND PASSPORT I 
ml Iasi new havens, 
^-31-3551430 

. KL1NKER. . 
qed any destination 

i7u 39 2 5455464 


OFFSHORE COMPANIES 

READY MADE CO i. FULL ADUN 
TRADE DQCUMfflTS AND LC 
BANKING 8 ACCOUNTING 
CHNA BUSINESS SSSMC53 

Corac Stela Ho tar rmmsiir 
services & cm^aw brach'jre 
MACS LTD, F:c- ''2: A5kt =122 
1-6 Sanaa toi TS7. Kcstoc- 
Hang Korn e-mai nacsitfts^evs 
Teh 862-27241 


41223 Fax 27224373 


SCOLA G0WG GLOBAL 

SCO LA. net pi t ft esucaoosal ponder ti 
24-hour foreign new pregranmcig va 
satellite. is going global. SCOLA j 
2-clwwet wtrtfmde transmssicr. wads 
SFonsor3.’adv?rtisa:s As lmte as 
S3425 (US i oer spa. Woe or fax. 
SCOLA. PO Bo* 619- UcCWtand !A 
5154M619 USA FAX (It 712-565-252 
emal scotaSaafeog 

wfrwiw.scGta.Cflj 


MULTVTALEMTED AMERfCAH, 
maedtoly gari Froth. rat 50s, 
seeks rte rest mg business opoonusies 
in Ar ■ toiosQue area. Travel 
crerauvty deinrefy a plus. 

?3X *33 m 42 21 00 51 OT’-Sc* 373 
(HT. 32521 Neuiy Cede* France. 


PRBE SITE COTE D'AZUR, 
finanaat owestmerts. Hrtel renoraacn tor 
presold Bmeshare operaftsi 
Owner seeks panrwfsj. 

Toed secway Vary speed apponufiBS. 
FAX +33 (0)493581680 fur firet contort. 


DISTRIBUTORS WANTED. Outsandtog 
ecologies) designer-houses Prgab pro- 
gram (10 fraemsiona) Top Oesmws) tor 
sales all over rhe world, rax bermeny 
+821 • 5S27 67 


ntPLOMATC PASSPORTS, fcg 
an Consul S HJ 1^,^ 
aiipassportsxom. Tat *34-33042969 
Fax *34-62882733 


OFFSHORE COMPANIES. For tree bro- 
chure or advica Tei Loretsi 44 181 >41 
1224 Fax. 44 181 “48 655W633S 
MwefpWorvcD i* 


INT'L franchises f 



Master Franchise Opportunity 
BMS TECHNOLOGIES 


BMS Technologies is an established and successful 
j American brand leader in Commercial. Residential and 

I Insurance Restoration sen ices, with a 50 year track 
I record. Established in 20 countries 
Nos seeking applicants for Master Franchise rights. 

■ Specializing in Indoor Environmental Services & 
Insurance Disaster Recovers 

■ Ohennfl j prawn svsrcm ro build a Franchise network 
22 Proprietary Paiema & 11 Prolil Centers 

Complete Trainine JL On-going Suppwt 

For an appointment to meet ScdU while in 
London, call or fax Bill Sims. Principals Only. 

1 - 817 - 332-1575 rax : 817 - 335 - 5118 ^ 


Scotland, Wales 


BMS2 sSsJSS:* 


Lid 


JUST PUBLISHED 

International Herald Tribune’s 
International Franchise Guide 
INTERNATIONAL MASTER FRANCHISE 
& AREA DEVELOPMENT OPPORTUNITIES 

Tht* definitive guide devoted solely to international franchising. 
tMailvd. utrto-date proltlo on the world's lradin« inu-muiioiuil 
franeni+ors, 176 pages. I SS34.*J5 (includes snipping) 

Smr] i.. 1HT OuiH'-. P.O. Bov J24B& f)akland. C4 WH. Cash. Money Order. V La 
nr M/C (send Am. #. L\w. Dale A Approval Saunire).’ 

Tel: (511^839-5471 or Fits: (SlU) WT-3:45 
E-Mail: sourt-ebook[o : carthlinlc.ttet WeIwitr.-wwwr.fRinchiseind.com 

8na KS& ibnc: 

TIM lllgMa NrTNPtffl 


CONTROL 

AN ENTIRE COUNTRY WITH 


Master Rights Opportunity 
Trawl Netook Tne Na 1 travel agency chan 
Kith ova 400 locations n 15 countries. 
www.lravnet.com/franchise 
See schedule to meet executives 
Stephanie Abrams, Exec V. P. 
Tel: (201) 567-8500 ext 23 
Fax: gm 567-4405 IJSA^ 


USA OPPORTUNITY 

Enter an exiting pan of the 
iransportanon business r the UJUL 
AJaays rraflafifa. vre're bed cbseiy to 
the nee.- prcdud development process a 
on? d Three van and tiuck *n- 
sfflns. '.Ye are consistent- m dw tep 10 
m teh cia&y and votome. On rdustry 
is rnsordauig-U there can w no nw: 
eras/s .vhen'ihe mane: enbdes acam 
explain r.fiv- 12 raT. aumed 
staenTO =c-.:erul manaoemenieam 
Art sa< ^ tc li months "mwmanonai 
C-osstlres 

Box 361, krtenottonal Herald Triune 
850 Rad Are, N.Y. N.Y. 10022 USA 
Far 1-708-763-9819 


USA/UK HEALTH FOOD Muufacturer 

seedr* s.z nnbv«s 
e&cz, 4-7 T-te Caicr^s aar. 
*-r: ccwenal 5 nrrjwr 
r==sz ‘.Ye :"&■ zi 
TMTJa". kKW! mss 

. rrr r*r 3XzS sre ^2ssi*i?c 
=s i =>r. 5 “ met A^ess 
j^nsr. • :.t i srzn zz-zsr 
err- sr.-Ftr.f xrra r,?? ‘ 
rscce: sr-'car. 734 -.- 

TteiT 2 r ‘cs -iSter iilZitSSssST 
:■ =•— . agrees SsryS^ea a 
vs ] '.j -TTsftgs r.r? 'rsns. cc. ' 
sri* -':es, *a?s7ZK&e£ana 0 


\ ! BL KNOWN FRENCH 

0 COUTURE HOUSE" 

seeks patn+rs t: ^ease its e?ish- 
capffil c. cisr. '.z ttvetep is fes: 
xsr. zrr* Ksraftw! tsir«s 
=ax dsa's s ■ -33 iG'* - *“ 32 70 


US. D uai a ass es - A ^r wsfirng Genera 
s &\2 Eaines. VAne Step* Dricie- 
anera =Ka?7.KS. EhremeCiAssoc 
‘USA* S1-57C-30C2- Fa* 331-3249247. 


Telecommunications 


CR. fa teroaional 
inemsttosl Ftspad Cants 

Extreme)? Cupstfie Pric mg 
Tei- 398:-5S£242 Fat 39^1-335272 
W22 0 : 3 Cs^al Trad. SuSe 670. 
VSBcMoa Cetorare 1980M132 USA. 


Business Services 


2KD PASSPORTS. Y^e free travel 1 
bankatg back door to Spam & £U. 
Ago* are wtsme. Tei 572 500631 S, 
ra 372 4 34236 (X E-mat 
e^sspcrtSpesspoagfiac- 


Y0OT OFFEE M UMMATTAH 
5th Ave. maB handling mtMdual 
telephone 'jne - trensering, lac, e-maL 
Tef 1-212-843-94^ Fax 1-212-221 -5SB 


RUSSIAN BUSINESS Vbaa hduSng 
muftt-arery plus an oftet trad savicss 
va our dowacen Uoscow c&e Tet +44 
(0)113 232 ®62 Fax (0)113 232 0228. 



smutD SALADS 


\ 33-year proven track record, y 


. Over 1700 locations worldwide. > 


29 coutries awarded; 
Nine countries operating. 


Seeking MasJer License candidaTB 
11 major European markets, 




Internationally Call; 

( 770 ) 984-2707 

Fax: (770)980-9176 
■Afww.blimpie.com 


EDfTORlAL SERVICES 0NUNE 
Writing ' Eifirg ’ Prootreaing 

www edsarvixm • nfoeadservism 


MAILING LISTS by Berger 8 Company 
European business and consumer daa 
Tet 4i 131262966 Fax 44 1313267901 


YOUR OFFICE M LONDON 
Bond Street - Ued Phone. Fax. Telex 
Tet 44 171 29G ?Mu Fa* 171 439 7517 


Consultants 


WTL FINANCUL CONSULTING RRU 

r&p&s US niM&a' r — .a h ace- 
nsK5 r nerrecca r,.:. and 
nresmrt tankr.g ecenerre - me 
ser-d resume to 

r,TREFD KTaftAT&'A 1 . 5 A 
CO FRANCO 8 FRANC: 

P0 5a£r 
Paama 5. rarer* 

Tot +507-263840 Far ♦507-263-8051 


FINANCIAL CONTROLLING SERVICES 
German nscral iltuen Er.gi'srrFrerchi 
Kev aroas in Accourr,-;. Contrawg. 
GAAP-Aeportmg. Aud4mg Oraansaucn 
Serrat tares A asg Funcjiar; sn to- 
snm bass and a speaa! es^mams 
Fax. +45-4122-96 4P-2 iGennanyi. 
E-mail emueBerfienrstcmnetsulc? 


Business Networking 


YOUR U5JSWBS EXPANSION NOW! 
Reps, executives, deal i ratal tor you 
No bent lae. Success - fee! Free irao J 
ycu fex cfe U M & P. +41 1 71J15S7 


Capital Wanted 


SWISS COMPANY SEEKS investment 
partner (01 USS12M Artwty relates 10 
(already masting) memannaly patemed 
extracucn systems at aciwe uigradieras 
uto esdsl poemicd tor cosmefc. no- 
trftfcnal and ptonracaiicat acprcations 
Please conoa CERATECH Fax +41 22 
819 IS 00 


ENTREPRENEUR SEEKS atai FFi 2M 
suxtal to buy company assets vahiol fl 
Sitosanca) retun on nvestmem. 
Field • rtiotesafc electrical atrtianew 
Tel' *33 10)6 11 03 37 72 Fax: *33 
(Oil 43 89 69 24 


SI IIEUON. PAYS BACK SIStLOM « 
90 days fifiy eoflaietaizeti. No towers. 
Tet 91S-6B3-Z400 or 913-671-1555 




BUSINESS OPPORTUNITIES 


Do you want the success ? 

We are looking tor trade partners tor a worlduide distribution. 

DISCOUNT PERFUMES, 

■ ORIGINAL FRENCH PRODUCTS. 

Luxury perfumes, 100 ml for the price of DM 5,95. 
Successful products worldwide. 

ENTRUP & CO, 593 79 Seim, Germany 
Tel: +49 - 2592 - 979730. Fax +49-2592-97973 1 
(URGENT) 


3C 

CHORUS 


Business to Business Services 

• Business Plan Preparation 

• Investment Prosaec ruses 

• Project Studies & Appraisals 
» Business Reviews 

• International Promotion 
for further mimtuhw cull it .i+ifr fie 
Chants Ltd.. 2». Grwvennr Street 

London W1X4FE 

Tel- +44 (in 171il74h2ti 
Fax: *44 tOi J71 *>17 ttXC 


r-THE GOLD MACHINE- 

PwUM msmoiBS r dflU 
By ream shot) enoravro no mofalors tf 
GOLD atl f#COUS W2TAIS. 
Opwaamm nom« «n4 sfl s«u oeskn 
or»Hi»itwr tafie artes Sree » 
apmM and ranspon Mth 310333 car 
USS 30000 Un»iun»Wfl Opal 
KDumnARsntiMS 

L DmIHT .34 

MMMt 25 BS7B0 E^rtoni, GbiMM 
Tri. 00496171 -12 to 32 ftx. 00406173 - 32 2D S' J 





IN THE 


Protect Your Personal Assets 

• incorporate <n anv state, including 
Delaware. Nevada & Wyonwig 

- LLC s iL'rmted UabOny Comparaesi 

- in as Mile as 48 hours 

Corporate Agents, Inc. 

ri u {302. Vto-TOT* 

Ca-npuSena GO INC 
nnp .nw* coreorew com 


302 - 998-0598 



IIAVi YOU AM 


IDEA OR 
INVENTION? 


peer uni 

...then 

America's leading product 
devetopmen r company Is interested 

International product design 

1 Harley Street, Londoa WIN IP* 


+44 (0)171*436*1127 

-VA rftf L IflFOMMATION PACK 


Business Opportunities 

Appears every Wednesday in The Intennarket. 

To advertise con tart Nina Nieli in our London office; 
Tel.: + 44 I 71 420 0325 / Fax: + 44 1 71 420 0338 
or your nearest IHT office or representative. 


Capital Available 


CAPITAL C0RP. 

H & A 

Corporate Financing 
venue Capital 
(WorKMej 

Tel: 001-407-248-0360 
Fax: 001 -407-248-0037 USA 


FUNDS AVAILABLE 
Fia mvesment Progams 
Proof of rinds AvasaWe 
Through Accoirt hatom at 
Swen us s European Sante 
(212) 758-4242 Far [212] 758-1221 
v/ww johnbemey com 
Attorney's & Brokers owed 
375 Park Aw . NY. NY 10152 USA 


PROJECT CAPITAL 
AvaSabte for Rant 
Wnmum USS 5m 
Maximum USS 10m 
Renal casts vary utn 
Penod money rajured 
Fax 44 (0)171 470 7205 
Al Stokers Watson* 


COMMERCIAL FUNDING AVAILABLE 
Business Finance ' Venture Capital 
Worldwide ' Brokers welcome 


ETHIC INVESTMENTS LTD 
FAX +44 ®)115 942 7846 


BROKERS 

Do your own ra*ig transactions 
You provide trank guararaee. vre wi 
prowte bank evUerce rt funds in ywr 
name. For nominal teasing cost 
Fate 44 (0)171 470 7113 


CAPITAL FUNDING AVAILABLE 
Urwrum SIM USD Charges no retainer 
tees. Meresi A\ & w> Contto Ms 
Harden: Fax 60W2+14TO Canada. 


PROJECT CAPITAL 8 LOAN FUNDS 
evalable this quarter Mu USD S2M 
Fax +1 809 686 7056 to CC1C. the Fund 
Managers & tweamers Bankas. 


LETTERS OF CREDIT 
avalable 

FAX +44 (0)171 373 4558 


& 

A NCI o American Oioi'f 
PIC — — 

PROJECT FINANCE 
VENTURE CAPfTAL 

global coverage 

NO UAXNUf.1 
BROKERS WELCOME 
For Corputfle Brochure and 
rtonrairon part 
Tel +J4 1934 si 35 
Fa*. -4C 1 9M K! 3T 
You are Become :sc ui 


LEASE SCASHS 
FOR YOUR INVESTMENTS 

WE DEPOSIT CASH INTO YOUR 
ACC CUNT OR ARRANGE L-C 
IN YOUR FAVOUR. 

PINNACLE CREDIT (CANADA) 
Tel: (416) 601-2270 
Fat (416) 601-2280 

BROKERSIAGENTS WANTED 
HIGH COMMISSIONS PA0 


GLOBAL PROJECT FUNDING VEN- 
TURE CAPITAL-JOINT VENTURES- 
PftOJECT FINANCING 


lvTI*-.XIVh*l VlNIlim 

Tel: +44 113 2727 550 Fax: *44 113 
2727 560 Fees ere not requested pmr to 
an offer ol fining being made. 


-WMED1ATE & UNUMITED “ 
Capte) avaoaUe for 
AIL busness projects 1 
MM U.S St mrt/no max. 

WI Business Consutag 
(717) 397-7490 (US. FAX) 
jflpiYnwJrawawicom [Wemen 


PROJECT & VENTURE CAPITAL 
AVAILABLE MIN. USS 1M. NO MAX. 
5% INTEREST RATE NO FEES. 
FAX -44 (0) 1904 33(560. UK 


COIIIIERCfAL/BUSfNESS FINANCE 
available lor any vtatte protects wold- 
wme Fax Oriel synopss m Engish 10 
Corporate Advances. |+)41-i273«i300. 


m:\tiiu; 

CAPIX4L WAJVTED 
US$20,000,000. 

NAPOLEON FRENCH CHEESE 
FRENCH WINERY PRODUCT 
MADE IN CHINA SINCE 1993 

BEIJING NJNDI FOOD CO. LTD. 
GSELS. SIFONI G1LLES 

120 Chemin du (iuc 
83300 (Var) I)ragui"nan, FKANCE 


r SUN, WINdT WAttRio create ENERGy"J 


I Solar water heater; 

■ Wind and I or sun 


I 

I Water purificajhn. pollution, add f or dKalinatidn tm. 100 L / day and up. I 
• QuaJitv products, produced in the HJ. Verv reasonably pneed. 

FIs. reply 1(5 jedana InL Fax +-+4? 7215 3238 of e-mad hem2Jre’aoaat J 


EMPIRE STATE BU1DMG 
ADDRESS 

Gain instant crodlbillty. 
Establish a NY presencs In 
tha world's best-known 
building. Mall received, phone 
answering, conference 
room, furnished mlni-off teas. 
HIPWE STATE OFFICE SERVICES 
T£L2tF73MB72*FA£2tM64-1tX 


ANNOUNCEMENTS 


WORLD TRENDS: 

If you want tire verv lasnier 
«.i.invenri><njl inielli^encc. 
Ci-rujci 

THE SPECIAL OFFICE 
UK Fax: 01608 650 540 

■«> props iciikli. no iluipu- 
h>il wi w- uld k-.im ihr IjcI; 


PROJECT RNANCING 

Vertue Capttfl ■ Jort Vernues - 
No Maxrnum • Brokers Protected 

RJ.L INTERNATIONAL 
Tel: 001-242-363-1649 
Fax: 001-71 6-779-8200 


VENTURE CAPITAL 
Uin USS 3m Irom Principal 
Start igs, development, eto 
Nnr Pert AvaJabto July 
Fax: *44 10)171 470 7158 
Ann: Ftoancs Z*eor 

AH Brokers 


Financial Services 


FUNDING PROBLEMS? 

tor 

SOLUTIONS 

Coflaa 

BANCOR 

OF ASIA 

Bankafcte guarartees to secira tondng 
Tor vrabie projects: 

VENTURE CAPITAL 
EQUITY LOANS 
REAL ESTATE 

Lmg ram eoOarereJ 
Supported Grafantees 


OFFSHORE BANK 


with correspondent relationship. 

Class A commercial license. 
Immediate delivery. US $60,000. 
Nassau, Bahamas 

Tet (242) 394-7080 Rue (242) 394-7082 
Agents Wanted Worldwide 


OFFSHORE COMPANIES 


■-AHIfIS REQUIRED 

No Capital Required 
Full Assistance Provided 
Exceflem Rate of Commission 
to sell 

OFFSHORE & UK COMPANIES | 

Corporate Business Centre Lirorad 
mm Tel. (44) 181 201 0502 
■_ Fax. (44) 181 201 0309 


WORLD WIDE RNANCING 

'CommereM Mortgages 
“Venture Caphai 
-Stock Loans 
•ProtBCt Furefing 
•betters ot Credit 
’Accoutre Recehabta Financing 
•RrhratB Placement 
■Public State 

Tel: (212) 75M242 
Fax: 1212) 758-1221 

Ti s ir- i.i 

Sefurdsr^ 

Screen H=cuLr« 


Fax: 

Tel: I 


1 81D-92S4 
l 894-5358 


(Commssiwi atBiwd only i®on Funding) 
BroKtoS CoruTCSWi Assuai 


FINANCIAL GUARANTEES 

insuranof l Reinsurance backed 
guratees tor quafled 
busness protects. 

Tet 561-998-3222 
Fax 561-9983226 USA 
norttoJrpOvrortJtalaJine 


UA DOLLARS AVALABLE 
■ Tradna Prograns/li'eniijfe CafXfl 

• Equity Loans/Bndge Loans 
’ UniartExjxirt Francng 

• S2M-S50M Furvls Guaranteed 
By Top Fumes' ihStouhons 

2<:-356W4.-35E^359Fa*’42.326-3®5 


Financial Investments 


OUTSTANDING IBIZA (Spanish 
Bateancs) property - Good kteim Seek 
hnancal imresia *44 iGi 171 229 5269 


Diamonds 


ROUGH DIAMONDS We ml pay instant 
cash tor gem quatty. Atncan ornm. 
volume orty Fax Si4 474-3866 USA 


Serviced Offices 


YOUR OFFICE IN PARIS 

la ready tvfien you need it 
even tor a cools W hotxs. 

* FrJy furctorfl modem otfices 
and conference rooms to rent by the 
hour. day. month etc . 

* You tactca) or pemtartert base 

* fYesflga mafing address A! services 

91, Fg St-Honora 75008 Parts 
Tel +33 10)144713636 Fax (0)1 42681560 



LEONARD 

■jT- 



BAREME AS 24 

AU 20 AOUT 1997 
Pnx Hors ?.'A en dwise locale 
iuretucten tsspcniSe si* denandei 
HentpAao? les baemss arteneas 

FRANCE (zme C) en FF1^?7A 2Bff » 
GO 3.73 WO* u. 

SC97 5.45 SOS’: i37 

iKe./l-*TVA175°+iTioiiB‘.! 

GO; OjStti F00* 03476 

/mature (zone 0 DWl - ?/A 15 J = 

ZONE I -G: 

GO 1.10 

ZONEB-l: 

GO 1.0' 1 “ 5 

ZONE IB- F: 

GO: 104 SCSF 1*4 

ZONEIV-F:_ 

SOS’ 1* 

zo fo. ,V '°» fro •» 

*3 SCSP S3 

ISr. h S SW: '» 

LUXEMBOURG en LUF-1 - Tik 15 5- : 

GO- 15^ 

ESPAGNE pare h & 16=1 

gCSl. 153-43 SCa i i» — 

■ usage reifjWW 


SUBSCRIBER CUSTOMER SERVICE: 
For questtonsvqiiarasetiaitnedelfe- 
Aft- (S '/Otf nerawer, the statos d your 
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PAGE 8 


WEDNES DAY, AUGUST 20, 1997 

EDITORIALS /OPINION 


Ileralb 


INTERNATIONAL 



tribune 


Pl'BI.ISIIEH WITH THE NEK >«BK TIMES WD THE « POST 


America and China 


American diplomatic design and the 
luck of Beijing's political calendar have 
given Washington its best chance in 
years to press for constructive change in 
Chinese policies at home and abroad. 

The Clinton administration has in- 
vited President Jiang Zemin to visit 
Washington in late October, enhancing 
his prestige at the very moment when 
Chinese leaders are sorting out the 
succession to the late Deng Xiaoping. 
As that visit approaches. Mr. Jiang is 
eager to assure a harmonious meeting 
with President Bill Clinton and to mute 
congressional and public criticism 
over China's abuses of human rights 
and religious freedom. 

Mr. Jiang's concerns give America 
the kind of leverage it has not enjoyed 
since Mr. Clinton abandoned his abort- 
ive early attempt to link China’s trade 
status to progress on human rights. The 
administration should make the most 
of this new opportunity, presenting Mr. 
Jiang and other leaders with a list of 
realistic and consistent steps that Bei- 
jing could take to improve relations 
and avoid the crises of recent years. 

Secretary of State Madeleine Al- 
bright and 'Mr. Clinton's national se- 
curity adviser, Samuel Berger, have 
already made a good start. Mr. Berger 
met Mr. Jiang in Beijing last week and 
suggested ways in which China can 
contribute to’ a successful summit 
meeting. These include releasing jailed 
democracy advocates like Wei Jing- 
sheng and Wang Dan. allowing Red 
Cross visits to Chinese prisons and 
inviting American religious leaders to 
visit China. Last month Mrs. Albright 
reminded her Chinese counterpart of 
the importance Washington attaches to 
restraining Chinese nuclear exports, 
especially to Iran and Pakistan. 

Improving relations also depends on 
wise American conduct. But most of 
the recent problems have resulted from 
provocative Chinese behavior. Al- 


though China is becoming an increas- 
ingly important economic and military 
power, its government remains hyper- 
sensitive about its standing in world 
affairs and responds belligerently to 
perceived slights. Beijing particularly 
worries that Washington is trying to 
contain Chinese pow-er. On the con- 
trary. the Clinton administration until 
recently acted as if maintaining good 
relations required Washington to ig- 
nore Chinese human rights abuses and 
dangerous weapons transfers. 

Both sides now appear to be learning 
from past mistakes. Mr. Jiang knows 
that he is considered inexperienced in 
foreign affairs and that he could burn- 
ish his reputation by leading the way to 
less acrimonious relations with Wash- 
ington. The Clinton administration 
now seems to recognize that trade, 
human rights and restraining the 
spread of nuclear and missile tech- 
nology need not be conflicting ob- 
jectives. Rather. Washington's abiliry 
to expand American economic rela- 
tions with China is directly related to 
how well Beijing respects its treaty 
commitments abroad and the rule of 
law at home. 

Beyond the immediate political cal- 
culations in Beijing, this is a partic- 
ularly appropriate moment for Wash- 
ington to take a more active stance on 
human rights issues in China. The 
Chinese political system is plainly 
evolving from a Leninist totalitarian- 
ism that tried to control all aspects of 
human life tow ard a dictatorship more 
narrowly focused on political repres- 
sion. As economic reform progresses, 
social controls on ordinary' people tend 
to dimmish, even as the regime tight- 
ens its grip on political dissent. .Amer- 
ican policy should be aimed at con- 
solidating these gains while en- 
couraging the Chinese to extend them 
to the political sphere as well. 

— THE V£lf YORK TIMES 


East Asian Medicine 


The current financial crisis in Thai- 
land. now reverberating throughout 
East Asia, has led some to question 
whether the golden era for Asia's tiger 
economies is coming to a close. It 
needn't be. .Asia's success stories, from 
South Korea to Indonesia, are facing 
new' challenges, due in part to their past 
success and in pan to the accelerating 
globalization of the world economy. 
But with proper policies, and absent 
unexpected global economic shocks, 
there is no reason they can’t stay on a 
growth path over the long term. 

During the past several years Thai- 
land's economy attracted vast amounts 
of foreign capital, fueling growth rates 
of 8 percent and higher, but its gov- 
ernment did not adjust quickly enough 
to new circumstances. Bank regulation 
was lax. corruption flourished and ex- 
change rate policy was bungled. Too 
little investment was channeled into 
education and infrastructure, which are 
key to future economic growth. Warn- 
ing signs of trouble were ignored. The 
result: Thailand now faces at least two 
years of austerity policies. Both for- 
eign and Thai investors will suffer, but 
— as after Mexico's peso crash — it is 
the poor who will suffer most from a 
slowdown in growth. 

Each Asian nation is different, but 
some of Thailand’s problems find 
echoes across the region. Globaliza- 
tion has benefited Thailand, Malaysia. 
Indonesia and other neighbors more 
than any other region in the world. 
Trade and foreign investment flows 
helped fuel average annual growth in 
Thailand of 4.6 percent over the 
quarter-century from 1965 to 1990 
(compared with 0.8 percent in Latin 
America). But global capital markets 
are fickle; they "punish mistakes 


severely," ihe Asian Development 
Bank noted in a report published just 
before Thailand's crash. The ADB re- 
port. written primarily by Harvard 
University's Jeffrey Sachs and David 
Bloom, predicted that global integra- 
tion would force Asia's developing 
nations to put more emphasis on rule of 
law, transparent financial regulation 
and other improved governance, or 
suffer the consequences. 

Rapid growth obviously is easiest 
when countries are beginning from 
near zero. As they have prospered. 
Asia’s tigers have found that the low- 
wage industries that got them started, 
such as shoe factories, are quick to 
move on: from South Korea, say, to 
Malaysia to China's coastal regions 
and now to China's interior. This can 
be a positive development, reflecting 
rising standards of living in the aban- 
doned countries. But to attract higher 
value-added industries, countries 
again need more investment in edu- 
cation and bener state institutions. 

Not every- nation will move up this 
economic food chain with equal suc- 
cess. But most Asian economies re- 
main well positioned geographically, 
demographicaily and in other wavs to 
make the transition. Thailand, for ex- 
ample, doubled its standard of living 
relative to America's from 1965 to 
1990 — but even then reached a level 
only one-fifth as high. With improved 
policies, the .ADB report figured. Thai- 
land's growth is actually likely to ac- 
celerate during the next 30 years — and 
Thailand's economy, on a per-person 
basis, would still be only half as large 
as that of the United States. In that cose, 
the next two painful years might be 
remembered as a bump in the road. 

— THE WASHINGTON POST 


Other Comment 


Recruiting for Hamas 

The lessons of Israel i-Palestinian 
turbulence should [be] clear to Amer- 
icans as to the more thoughtful Israelis. 
"Security” is not manna from heaven 
to be plucked and enjoyed, and in the 
circumstances of the Middle East in the 
closing years of rhe century it can 
never be achieved by Israel remaining 
a colonial power policing Palestinian 
areas, bottling up entire populations at 
will, making access to and from Pal- 
estinian territories a nightmare for the 
Palestinians themselves and the world, 
and generally telling the Palestinians 
that they are little better than serfs and 


must live on bits and pieces of territory 
that must not be armed. 

Terrorism against innocent civilians 
for any cause is abhorrent and must be 
condemned, but it is time Americans 
paused to consider what options they 
are leaving Palestinians. Every day the 
actions of the Israeli authorities are 
driving Palestinians into the arms of 
Hamas, whose words have a greater 
resonance among the people against 
the backdrop of Israeli actions. And we 
have Benjamin Netanyahu and Bill 
Clinton asking Yasser Arafat to pro- 
vide Israelis with security. 

— S. Nihal Singh, commenting in 
the Khaleej Times t Dubai). 


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A New Policy Toward Iran to Please Big Oil? 

. arc 


W ASHINGTON — For nearly two 
decades, the makers of American 
foreign policy have looked with thinly 
disguised contempt at attempts by their 
European counterparts to build a con- 
structive dialogue with Iran. 

These diplomatic overtures to the 
Iranians have typically been described 
in the United States as naive, com- 
mercially self-serving or both. From an 
American perspective, it was as if die 
Europeans were not dealing just with 
the enemy but with the devil incarnate. 

But Europe’s soft line toward Iran 
may soon become United States policy 
as welL The Europeans might appre- 
ciate such a reversal — if not for the 
hypocritical way the United States is 
going about iL 

Evidence of such an about-face 
came to light late last month. Through 
unnamed officials, the Clinton admin- 
istration let it be known that it would 
not oppose a planned 3 .200-kilometer 
pipeline to carry natural gas from Turk- 
menistan to Turkey through Iran. 

Although Secretary of State 
Madeleine Albright was quick to deny 
that there had been any fundamental 
shift in policy, one can only wonder 
about the timing of the leak. 

This news surfaced in late July, just 
days before the inauguration of Iran's 


By Stephan -Goetz Richter 


new' president, Mohammed Khatami, 
who was predictably described by the 
same unnamed administration officials 
as a * ‘moderate’ ’ with whom the United 
States might be able to do business. 

In reality, the United States had been 
signaling a change in policy for 
months, all in the dance of veils fa- 
miliar to Washington observers. 

First, word circulates that oil compa- 
nies with interests in the region have 
retained the services of noted foreign 
policy experts and former officials. 

Next, these same luminaries pub- 
licly decry the "unproductive - ' nature 
of American policy toward Iran. The 
containment strategy, we are told, 
needs to be rethought. 

Finally, the usual unnamed admin- 
istration officials start dropping hints 
that such a rethinking is in the works. 

Rather than taking comfort from the 
notion that Washington may be mod- 
erating its hostility toward Iran, the 
Europeans have been a bit taken aback 
by iL They believe that it is preparing to 
engage with the I ranians for one and 
only one reason: Big Oil has something 
big at stake in Central Asia. 

Iran has influence with virtually every 


country in the region. The countries at 
Central Asia are simply too historically 
interwoven for it to be otherwise. Ob- 
viously. this puts the United States oil 
cnfinrc at a distinct disadvantage in the 
race to tap the vast energy resources of 
the former Soviet republics. 

Little wonder, then, that the Clinton 
administration gave a hero's welcome 
to .Azerbaijan's president. Heydar Ali- 
yev, on his recent visit to Washington 
— or that business interests eager to 
unlock oil in the Caspian Sea are work- 
ing overtime to soften American at- 
titudes toward Iran. 

Europeans take offense at this sort of 
double standard. After alL even as hints 
of a kinder, gender stance toward Iran 
surface in the press. European and li.S. 
negotiators are gening ready to discuss 
the imperial Heims-Bunon 'legislation, 
which seeks to enforce American trade 
sanctions against Cuba by applying 
them to non-American companies! 

America constantly reminds every- 
one that under U.S. law Iran, like Cuba, 
is economically "untouchable.” Yei 
this policy seems expendable as soon as 
.American interests decide to go after 
Central Asian oil. Europeans find it 
particularly hard to swallow the idea 
that the entire world should dance to the 
tune of American domestic politics. 


European policymakers understand 
realities well enough to know that as 
the world’s only superpower the 
United States plays a paramount role 
on virtually everv issue. But they won- 
der whether the L'nited Stares is short- 
sighted enough to believe that it can tell 
other nations not only what to uo but 
also precisely when to do it. 

Europeans are bemused to see how 
easv it is to change American foreign 
policy. Just have a few political heavy- 
weights prepare die way by endorsing 
the impending shift In short, make it 
sound like a geopolitical strategy ad- 
justment. not a cut-and-dried business 
tr ansa ction. Is it any wonder that more 
and more people abroad have an uneasy 
feeling that America, for all its achieve- 
ments. is growing ever more cynical? 

That suspicion certainly has not 
been contradicted by the Clinton ad- 
ministration's decision to allow the 
pipeline through Iran. To many Euro- 
peans, it just looks like a way to get 
Washington's policy out of a trap — 
and out of the way of some very power- 
ful business interests. 

The writer. publisher of the Trans - 
Atlantic Weekly Wire . a global strategy 
newsletter, contributed this comment to 
The New York Times. 


< 


Two Scenarios for the Start of the Next American Recession 


W ASHINGTON — Serious 
problems in the American 
economy are being ignored at 
some peril. The business cycle 
has not been banished, and cir- 
cumstances exist in LI.S. finan- 
cial markets which suggest that 
the next recession may not be 
far in the future. 

Increases in household in- 
debtedness are causing enor- 
mous problems of declining 
creditworthiness, loan write- 
offs by lenders and personal 
bankruptcies. 

As of late 1996. household 
debt totaled 89 percent of annual 
disposable income, compared 
with 83 percent in 1 990 and only 
67 percent in 1980. .Americans 
have been on a spending binge 
since the early 1 980s, and now 
owe almost ayear's income on 
credit canls. car loans, mon- 
gages and other debts. 

The predictable result of ex- 
cessive spending has been a 
sharp increase in loan defaults 
and bankruptcies. More than a 
million bankruptcies were filed 


By Robert M. Drum Jr. 


in 1996, and banks have recently 
been writing off about 7 percent 
of credit card receivables as un- 
coUectable. compared to 6 per- 
cent a year ago. and far less in 
the more distant past 

From 1960 to 1983. families 
saved about 8 percent of dis- 
posable income. The figure de- 
clined to about 5 percent in 
1989. before rising slightly dur- 
ing the 1990-1992 recession. It 
fell during the following recov- 
ery. and was a mere 4.8 percent 
in the first quarter of this year. 

Domestic savings rates [in- 
cluding business and govern- 
ment) averaged 21.4 percent of 
GDP in the"" 1960s. The figure 
declined in the 1970s and I9S0s. 
and has averaged only 15.5 per- 
cent thus far in the 1990s. 

In a little more than three 
decades. 5.9 percent of U.S. out- 
put was shifted from savings to 
private and public consumption. 
This has become an economy of 
eat. drink and be merry. 


A national savings rate of just 
over 15 percent is not sufficient 
to finance even modest plant 
and equipment investment 
levels, so America has to bor- 
row from foreigners. It has re- 
cently been borrowing about 
Si 50 billion per year abroad to 
finance its current account def- 
icit so that rhe economy can 
invest more than the small 
amounts Americans save. 

America was a large net cred- 
itor to the rest of the world in the 
early 1980s. It is now the larges; 
net "debtor, and this indebted- 
ness will reach SI trillion by the 
end of this year. 

It is not difficult to foresee 
the likely cause of the next re- 
cession. Either consumers are 
going to conclude that their 
debis are excessive and that 
they should reduce expendit- 
ures. or the banks are going to 
force them to stop buying so 
much by refusing to lend. 

Writing off 7 percent of cred- 


it card receivables will even- 
tually get the attention of bank 
managers, w ho will then decide 
that creditworthiness standards 
need to be tightened sharply. 
Spending on consumer durables 
and other discretionary con- 
sumption (such as travel and 
restaurant meals) will decline, 
and a recession will follow. 

An alternative scenario be- 
gins with foreign investors de- 
ciding that continuing to lend 
5 150 billion a year to a country 
with high consumption and low 
savings is less than prudent. If 
the willingness of foreigners to 
lend declines, the exchange rate 
for tite dollar w ill faJL strongly 
encouraging the Federal Re- 
serve td defend the currency, 
which means tight money, high 
interest rates and a recession. 

If both scenarios were to de- 
velop simultaneously, things 
could get nasty. 

L' domestic consumption de- 
clines. because of excessive 
household Indebtedness, at the 
same time that foreigners de- 


cide to reduce their lending to 
the United States, the Federal 
Reserve will face . a tough 
choice. Domestic spending de- 
clines would call for easy 
money, but defending the dollar 
requires tight money. 

The Fed would probably de- 
cide to ease, letting the exchange 
rate for the dollar decline sharply 
at the risk of more inflation. But 
there would be a serious reces- 
sion before this got sorted out. 

Despite the current happy 
times, a recession is out there 
waiting. Its cause will very 
probably be the excessive debts 
that Americans have accumu- 
lated in recent years, and it will 
represent at least a temporary 
end of the consumption binge. 

The party will have been fin 
while it lasted. The problem 
will be getting through .the 
mom in 2 after. 


4 




The writer, a professor qf eco- 
nomics di George Washington 
University, contributed this com- 
ment to The Washington Post. 


The White House Finds in Favor of Bibles and Head Scarves 


W ASHINGTON — Reli- 
gious people in America 
have argued for decades that the 
First Amendment, which guar- 
antees freedom of religion, has 
been wrongly interpreted as 
requiring freedom from religion. 
They have condemned efforts to 
drive religion from "the public 
square" and asserted that reli- 
gious people have rights, too. 
Now, to the great" surprise 
of many wbo made this argu- 
ment, the Clinton adnunistra- 


Bv E. J. Dionne Jr. 


tion has turned out to be an ally. 

The administration issued 
guidelines last Thursday requir- 
ing government supervisors to 
respect individual expressions of 
faith by federal employees. 
Christians will be able to keep 
Bibles on their desks. Muslim 
women will be able to wear head 
scarves. Jewish workers who 
want to honor their high holy 
days will have to be accommo- 


dated as much as possible. No 
one will be able to stop a federal 
worker from talking or arguing 
about religion during coffee 
breaks and lunch. 

President Bill Clinton is so 
masterful at symbolic politics 
that it is easy to write oft' the 
new rules as a feel-good ex- 
ercise. especially since reason- 
able supervisors largely prac- 
tice what these rules preach. But 


Slipping Backward in Jordan 


O XFORD, England — The 
recent announcement 
that Jordan’s next parliamen- 
tary elections are to be held on 
Nov. 4 should be cause for 
celebration. The kingdom has 
since 1989 led the Arab world 
in political reform. But an in- 
creasing number of Jordani- 
ans feel that the democratic 
process, such as it is. is simply 
no longer worth the candle. 

Behind this malaise lie 
anxieties about lack of con- 
sultation in decision-making, 
and the absence of popular 
support for key strategies, no- 
tably the normalization of re- 
lations with Israel. 

The forthcoming general 
election should be a show- 
case. It will be the third since 
the advent of a Jordanian-sty le 
glasnost more than eight years 
ago. All three will have been 
free of direct government in- 
terference. Great strides have 
been made — martial law has 
been ended, political prison- 
ers released, political parties 
legalized, and a pluralist press 
has started to emerge. 

Of late, however, political 
reform has begun to lose its 
way. The rules of the electoral 
game have been massaged to 
favor underpopulated rural 
constituencies, leading to a 
surge of tribal representation 
in the National Assembly and 
a diminution of the ideolog- 
ically oriented parties. 

Amendments to the publi- 
cations law adopted last May 
seem designed to squeeze out 
the more nee-spirited weekly 
press: two publications have 
already gone under. In the 
shadows, the activities of the 
intelligence and security ser- 
vices remain unchecked. 

The Near East remains a 
volatile area. Arguably, de- 
mocracy anywhere is best in- 
troduced in bite-sized chunks. 
For all the recidivism of late. 


By Philip Robins 


is 


Jordan's reformist record 
good by Arab standards. 

What should be more of a 
cause for concern is the dam- 
age that such measures have 
on the political culture of in- 
clusion. One of King Hus- 
sein’s many achievements has 
been to craft a system suf- 
ficiently broad and flexible to 
include a wide political spec- 
trum of views, from Islamist 
to CommunisL 

Ultimate power lies with 
the palace, but the National 
Assembly has acquired two 
important roles — as a watch- 
dog on govemmenL and as a 
noisy safety valve for frus- 
trated oppositionists. That In- 
dus i vis m is now in jeopardy. 

The Islamic Action From, 
the kingdom's only mass 
political movemenL has de- 
cided to boycon the Novem- 
ber poll. Its particular gripe is 
the electoral system intro- 
duced by sleight of hand just 
before the 1 993 elections, and 
which helped to halve Islamist 
representation. 

Many mainstream politi- 
cians in Jordan share the ex- 
asperation of the Islamic 
front. They believe that the 
growth in tribal representation 
has had a deadening impact on 
Parliament and has stifled 
political debate. 

Four leftist and nationalist 
parties have expressed an in- 
tention to join the boycott. 
Speculation is rife that many 
ot Jordan's vigorous profes- 
sional associations and other 
civil society groups will fol- 
low suit. Trie omens are not 
good for a large tumouL 

These political parties 
already control just under one- 
quarter of the seats in the 80 


certainly be undermined if the 
boycott goes ahead. 

Opposition political activ- 
ity may take an increasingly 
extra-parliamentary form." It 
will in turn become harder for 
such parties to dissuade their 
more hotheaded elements to 
refrain from disruptive action. 
Here, both relations with Is- 
rael and ihe IMF- inspired 
tight economic strategy are 
vulnerable. 

The government, ro its 
credit, has sought to open a 
dialogue to see If the situation 
can be retrieved. But even if 
an arrangement can be made 
with the November poll in 
mind, broader issues of con- 
cern will remain. 

Most importantly, an elec- 
tion boycott in Jordan will 
damage the cause of political 
institutionalization, the elu- 
sive quality in the search for 
stability across rhe 'Arab 
world. From a regime per- 
spective. this would appear to 
be counterproductive, as King 
Hussein has often cham" 
pioned the cause of institu- 
tionalization in the 1990s. 

The erosion of Jordan's cul- 
ture of inclusion is most un- 
likely lo affect the king’s own 
position: his political sraiure 
and authority remain strong. 
But to ensure that this mon- 
arch of 45 years is not judged 
by history to be a latter-day 
Franz Joseph, he must con- 
solidate a system of govern- 
ment that has a genuinely pop- 
ular base. 

Brooding discontent and 
electoral boycotts do not fa- 
cilitate such a process. 

The writer, lecturer in 
Middle East politics at Oxford 
University and a fellow oj St 
Antony's College, is preparin n 
a history of Jordan. He con- 


member National Assembly., trihuted this comment to the 
whose inclusivist nature will international Herald Tribune. 


this underestimates the balan- 
cing act required to ensure that 
individual rights are protected 
while keeping the government 
out of religion. 

These guidelines were nor an 
automatic political winner, a fact 
underscored by the reactions of 
Barry Lynn, executive director 
of .Americans United for Sep- 
aration of Church and State, and 
Cathy Cleaver, legal policy di- 
rector of the conservative Fam- 
ily Research CounciL 

Mr. Lynn said the guidelines 
"go far beyond what the con- 
stitution requires for religious 
expression" and "really urge ... 
all government employees to 
set up kind of a religious shrine 
at their own workplace." 

From a very different per- 
spective. Ms. Cleaver said that 
"the guidelines leave much 
room for discrimination based 
on the employer's judgment." 

The real point is that the ad- 
ministration has been trying, 
with the help of a broad range of 
religious leaders, to find a~ sat- 
isfactory settlement of a battle 
over religious rights that began 
in the 1960s when the Supreme 
Court outlawed school prayer. 

The First Amendment is 
commonly interpreted as re- 
quiring "separation of church 
and state." What it actually 
says on the subject is thai "Con- 
gress shall make no law respect- 
ing an establishment of reli- 
gion, or prohibiting the free 
exercise thereof. 

As Mr. Clinton said on 
Thursday, the amendment has 


tw o parts. It does prohibit the 
imposition of religion, any re- 
ligion, by the state, but it also 
protects the free expression of 
religious beliefs by individuals. 

that means that the govern- 
ment cannot require youngsters 
to say prayers. But. as the ad- 
ministration made clear in a set 
of guidelines issued in 1995, 
school officials cannot stop in- 
dividuals from praying or talk- 
ing about religion just because 
they happen To be on govern- 
ment property. As Mr. Clinton 
said at the time, the constitution 
"does not require children to 
leave their religion at the 
schoolhouse door." 

Drawing the lines correctly 
matters most to members of 
minority religions, as Rabbi 
David Saperstein. director of 
the Religion Action Center of 
Reform Judaism, pointed out at 
a news conference outside the 
White House. The lone Jew, 
Muslim or Hindu in a work- 
place or a school is especially 
vulnerable to intimidation. 

Adam Meyerson. a vice pres- 
ident of the’ conservative Her- 
itage Foundation and a Clinton 
critic on many fronts, said in an 
interview that Mr. Clinton's ac- 
complishments on religious 
rights are real. 

"Clinton's greatest legacy 
may well be his leadership in 
reducing the bigotry against re- 
ligion that has been expressed 
in recent decades by much of 
the Democratic Party and 
American liberalism." 

Washington Past Writers Group. 


$ 


IN OUR PAGES: 100. 75 AND 50 YEARS AGO 


1897: Electric Cabs 

PARIS — The electric cab 
which has just made its appear- 
ance in rhe streets of London 
seems to be a success. In on 
interview with the manager of 
the company, ihat gentleman 
states that the new horseless cab 
is in every- way equal to the 
demands made on iL It is as 
steerable as the ordinary cab. 
makes very little noise and costs 
so little that it can compete eas- 
ily w ith the present ■ 'gondola of 
London." Fourteen" of these 
vehicles have been placed on 
the streets, and a hundred more 
will follow as soon as thev can 
be turned out by the builders. 

1922: Selling Austria 

VIENNA — Austria has come 
to the point where she can no 
longer exist as an independent 
State. With the currency so low 
that, for all practical purposes, it 
has ceased to be of any value as 


a basis of exchange, conditions 
have become impossible. The 
Austrian Government has there- 
fore decided to get into personal 
contact with the leading states- 
men of Austria's three most im- , 
portant neighbors — Germany. 
Italy and Czecho-Slovakia. 
This means that Austria is seek- 
ing fusion with one of these 
three countries at any price. 

1947: Blast Kills 400 

CADIZ. Spain — More than 400 
persons were killed and between 

5.000 and 6.000 injured when 

2.500.000 pounds of explosives 
in ihe Cadiz Arsenal and Naval 
Torpedo Factory blew up on the 
outskirts of the city . The ex- 
plosion, which wrecked the in- 
dustrial section of the city and 
blasted an orphanage and a hos- ‘ 
pital. left Cadiz without water 
and electricity. The Franco gov- 
ernment banned the publication 
in Spanish newspapers of the 
dead and injured toll. 




tr (I*,. 
’■If 


Ah 


I * 




INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, AUGUST 20, 1997 


OPINION/LETTERS 


PAGE 9 


ft 


Cities Can Shine if They Take Up Tools 
And Build on Renaissance Lessons 


M ALIBU, California — In- 
stead of Hying to salvage the 
roass-industoial centers of 
tne 20th century, with their bul- 
gwg populations, smokestacks 
and gleaming high-rise towers, 
today s cities would do better to 
emulate the cities of the Reoais- 
sance and the early modem period 
T ' Ve “ce. Florence and Amster- 
dam- These relatively small but 
dynamic urban centers created the 
forms, attitudes and patterns of 
commercial interaction that have 
shaped and continue to shape 
— our civilization. 

• Rarely has the need for such a 
v|f "reassessment of urban strategies 
been more critical. 

Despite occasional hype about 
the “comebacks” of various 
American cities, the reality of the 
1990s has been a continuing out- 
migration of middle-class people; 
companies and opportunities 
from most urban centers. 

To make cities appealing again, 
they must, as the economist Jiro 
Tokuyama once observed, “un- 
learn the secrets” of their most 
immediate success. 

For nearly a century, cities 
grew according to a mass- 

For economic 
success , cities must 
f jt be open to outsiders. 


industrial model, with economies 
based on large-scale manufactur- 
ing and the housing of vast cor- 
porate bureaucracies. Today the 
.American cities most dependent 
on this model — Detroit, Chicago. 
St. Louis. Newark — are those 
that have been shrinking most rap- 
idly, both in population and in 
economic importance. 

By contrast, cities or parts of 
cities still serving the more tra- 
ditional functions as centers of 
cross-cultural trade, artisans hip 
and creativity — San Francisco, 
Seattle, Boston. New York and 
West Los Angeles — have per- 
formed markedly be tier. Their pop- 
ulations are relatively stable, and 
because of surging employment in 
high-end services, specialty man- 
ufacturing, entertainment and 
trade, they command among the 


highest rents and have the Iowesi 
office-vacancy rates in the nation. 

Although these cities* commer- 
cial. artisan and creative activities 
have roots in the origins of urban- 
ity in Mesopotamia. North Africa 
and the ancient Mediterranean, it 
was the great Renaissance cities 
that perfected these urban roles and 
helped by the foundation for what 
the urban historian Martin Thom 
has dubbed “the age of cities." 

Venice, Florence and Genoa 
were essentially trading states that 
used their international connec- 
tions to secure a lucrative role at 
the center of burgeoning com- 
merce between the great cultures 
of the Levant and a still-awaken- 
ing Europe. They also developed 
the second major pillar of urban 
economics — a highly evolved 
craft-based economy. The Vene- 


By Joe! Kotkis 

tians divided up their neighbor- 
hoods along functional lines, with 
specific residential and industrial 
communities for shipbuilding, 
munitions and glassmaking. 

Finally, the Renaissance citv- 
siaies. with Venice in the lead 
benefited from the fostering of 
economic, technical and cultural 
contacts with the outside world 
particularly the highly evolved so- 
cieties of the early Islamic Middle 
East- This openness to outsiders 
was then, and remains today, one 
of the critical components of a 
successful urban economy. 

The economic bulwarks of the 
20th century' industrial city — 
mass-production industries and 
giant corporate bureaucracies — 
are shrinking in size and recreating 
to more pliant, less complex edge 
cities. Faced with the loss of so 
much of their traditional economic 
base, cities must seek to exploit 
niches where they enjoy a com- 
parative advantage. 

Ports, airports, rail tines — the 
essentials of maintaining a role as 
a center of cross-cultural trade — 
must be bolstered. 

At the same time, cities need to 
find better ways to stimulate 
growth of creative industries, 
such as multimedia, movies, tele- 
vision and theater. 

One critical element is the cre- 
ation of the city as a work of art. 
Filled with pride in their accom- 
plishments, the Venetians and 
their Renaissance rivals vied with 
each other in fashioning die most 
arresting urban landscapes. Such 
culrural amenities help keep cre- 
ative and educated populations 
from leaving. 

But keeping creative 20- or 30- 
year-olds happy will not, by itself, 
create workable cities. For the 
great urban agglomerations of 
America, such as New York. 
Chicago. Los Angeles and Hous- 
ton. economic opportunities musr 
be developed for their largely 
minority and largely immigrant 
'populations. At their height, cities 
like Venice provided work not 
only for merchants and artists but 
also for the vast legions of ar- 
tisans. mechanics and semiskilled 
workers who constituted the great 
majority of urban dwellers. 

Right now, the biggest obstacle 
to developing an enterprising 
civic spirit lies in what "Mr. Thom 
has called the ‘‘pandemonium of 
ethnic cleansing,” in which tribal 
rivalries undermine any overall 
sense of common purpose. For 
cities to flourish again, all their 
disparate groups must realize a 
sense of common purpose. 

Traditionally, such attitudes re- 
flea not only political or econom- 
ic values but also transcendent and 
spiritual ones. Many of the great 
cities of antiquity — Ur, Snraer, 
Athens, Rome. Venice, Con- 
stantinople — were built around 
structures of profoundly religious 
significance. In much die same 
way, today's cities should identify 
themselves through the construc- 
tion of soaring new cathedrals. 


mosques, Buddhist or Hindu 
temples and synagogues that re- 
flect the common spiritual values 
of rbeir inhabitants. 

Like the citizens of Rousseau's 
Geneva, today's New Yorkers, 
Angelenos. Chicagoans. San 
Franciscans or Houstonians have 
in their hands the tools to forge a 
bright future for their cities — if 
they dedicate themselves to the 
effort. In this effort, they may also 
determine whether we sink into a 
fragmented, disjointed high-tech 
version of the Dark Ages or ini- 
tiate our own new- Renaissance. 


The writer, a senior fellow at 
the Pepperdinc Institute of Public 
Policy and at the Pacific Rescan h 
Institute, contributed this com- 
ment tv the Los Angeles Times. 



LETTERS TO THE EDITOR 


Israel and the UN 

In response to the editorial 
“Bigger Security Council?** 
(Aug. lb), it is worth noting that 
just one of the 185 member coun- 
tries of die United Nations is in- 
eligible to sit. in any capacity, on 
the Security Council. All seven 
countries on the U.S. terrorism list 
are eligible. So, too. are tiny An- 
dorra and the Seychelles Islands. 

Only democratic Israel, a LIN 
member for nearly five decades, is 
denied that possibility because, 
for practical purposes, nonper- 
manent members are always se- 
lected by one of the five regional 
blocs — Africa, Asia, Eastern 
Europe. Latin America, and 
“West European and Others." 

By geography, Israel should be 
in the Asian Group, but Iraq, 
Saudi Arabia and other states have 
denied Israel membership. As a 
temporary' measure, Israel has 
sought inclusion in the "West 
European and Other’ ’ group, but a 
few- European Union countries, on 
one pretext or another, have 
blocked Israel from joining. 


If UN reform is on the agenda, 
then remedying Israel’s anomal- 
ous situation, which denies it par- 
ticipation not only in the Security 
Council but also in the Economic 
and Social Council, the Interna- 
tional Court of Justice and other 
UN organs, ought to be at the top 
of the list for those who care about 
the credibility’ and effectiveness 
of the UnitedNations. 

DAVID A. HARRIS. 

New York. 

The writer is executive director 
of the American Jewish Commit- 
tee. 

Arab Economies 

Regarding "Decades of Polit- 
ical Stagnation Hobble Econo- 
mics of Arab World" I Aug. 4i: 

.Although the political climate 
influences the economic prospects 
of the region, several countries 
have implemented new measures 
in an effort to make their markets 
more accessible to foreign invest- 
ment. 

For example, Jordan has taken 
aggressive steps in reforming its 





investment laws and company 
Jaws and in removing restrictions 
on the outflow of capital. 

As I observe changes in the 
Middle East. 1 think back to when 
Japan and Germany embarked on 
an era of economic reform after 
World War IL Restructuring na- 
tional economies in the Middle 
East will similarly demand pa- 
tience. 

Many leaders in the Arab world 
have come to terms wiih the chan- 
ging world economy and the 
emergence of regional trade 
blocs. At the very least, they 
should be commended for their 
efforts to get on the bandwagon. 

MASSOUD DERHALLY. 

London. 

Surfing and Snooping 

Regarding "Privacy Vanishes, 
but Is That Bad?" ( Opinion. July 
30) by Carole A. Lane: 

The writer fails to distinguish 
between information that is 
already public — given know- 
ingly and simply made more eas- 
ily accessible by Internet — and 
private information that has no 
business in cyberspace. 

Also, there is the matter of un- 
regulated and abusive combining 
of information from different 
sources. Even government agen- 
cies are supposed to respect their 
jurisdictions. Internet surfers can 
merge data that have profound im- 
pacts on the lives of the subjects. 

The gathering of certain infor- 
mation for legitimate purposes 
has been institutionalized for 
good reasons. In a democracy, the 
right to protection from unreas- 
onable searches should not be 
traded for an Internet account. 

ERIC FENSTER. 

Montreuil, France. 

On NATO’s Shortlist 

Regarding “ Why Should NATO 
Grow? Just Look at History" 
( Opinion . July 9): 

The two countries short-listed 
for NATO enlargement at the 
Madrid summit meeting were Ro- 
mania and Slovenia, not Romania 


and Slovakia. The objection that 
“American boys might have to 
die for Budapest” — cited as a 
stumbling block to public accept- 
ance of the expansion plan — is 
silly. Americans have died for 
lesser cities in the past. 

BETSY BUNDSCHUR 
Ljubljana. Slovenia. 

What Serbs Want 

Regarding ‘Right About Bos- 
nia" (Opinion, Aug . IS): 

The editorial refers to separatist 
voices among the Bosnian Serbs. 
It ignores the fact that the Serbs in 
Bosnia-Herzegovioa opposed its 
separation from Yugoslavia in 
1992. Today, the Bosnian Serb 
objective is simply to reintegrate 
Serb-inhabited territory wiih 
Yugoslavia. 

GEORGE TINTOR. 

London. 

When Smoke Travels 

During my residence in the 
United States I heard and read 
about the terrible harm caused by 
tobacco to smokers and non- 
smokers alike. The government’s 
outcry and public behavior verged 
on hysteria. Tobacco was public 
enemy number one. 

Here in Greece, I witnessed a 
most interesting happening in a 
taverna. Two young women ap- 
proached every table offering free 
Marlboro cigarettes and lighters 
to everyone. 

1 am intrigued. What is poison 
in the United States is good for 
the Europeans. Hypocrisy. I 
would say — or better, hubris. 

JEAN de SION. 

Athens. 


Letters intended for publica- 
tion should he addressed "Letters 
to the Editor" and contain the 
writer's signature, name and full 
address. Letters should be brief 
and are subject to editing. tV'c can- 
not be responsible for the return of 
unsolicited manuscripts. 


A First Wife 
Had a Point 
To Make 

By Olivia Goldsmith 

N EW YORK -For a domes- 
tic dispute, the 4 ‘alienation of 
affection” case of Dorothy Hut- 
eltnyer vs. Margie Cox Hurelmyer 
has attracted a lot of attention. But 
this is not a story of greed or 
vengeance, as the press would 
have iL It is about the need for 
vindication. 

On Aug. 5. a jury ib North 
Carolina ordered the second Mrs. 
Hutelmyer (Margie) to pay the 
first (Dorothy! $1 million for 
stealing away her husband. 

“Do you think she’s going to 
get $1 million?" Margie Hur- 
elmyer said after the jury’s judg- 
ment “I own no property. I have 
no savings.” 

She just doesn’t get it. The law- 
suit was not about money. N or 
was it Dorothy Hutelmyer ’s aim to 
.blame "the other woman” for her 
ex-husband's behavior. The law- 
suit was about honor and loyalty; 
it was about the marriage contract. 
The lawsuit was simply a way for 

MEANWHILE 

the first Mrs. Hutelmyer to send a 
message: What happened to her 
was neither fair nor appropriate. 

Margie Hutelmyer appears to 
feel no responsibility. In fact, she 
blames the first wife for the whole 
mess. “Until she can acknow- 
ledge that she shares in the re- 
sponsibility in the breakdown of 
that marriage," Margie Hurelmy- 
er said, “she can never get on with 
her life.” Thank you. Dr. Ru±. 

But we are not talking about a 
failed marriage where two people 
agree that they are growing apart 
and decide to separate. We are 
talking about betrayal and decep- 
tion. Joseph and Margie Hutelmy- 
er have admitted that they had an 
affair while he was married. He is 
responsible for his actions, cer- 
tainly, but isn't she also culpable? 

Disastrous changes in divorce 
laws in the past two decades have 
not only failed to protect many 
wives financially but also have 
given them no emotional succor. 
Since the antiquated “alienation of 
affection” law is still on the books 
in the state where she lives, why 
shouldn't Dorothy Hutelmyer 
press her case in the courts? 

The decision is not a victory for 
conservative family values, as 
some politicians have said. It is 
not even a practical solution for 
most women in her situation. 
Only 12 states still have the ali- 
enation of affection law on the 
books. The jury’s decision is a 
vindication. 

What the resourceful Dorothy 
Hutelmyer did was ask a jury of 
her peers if her anger was jus- 
tified. In less than three hours they 
came in with a decision support- 
ing her. What’s wrong with that? 

The writer, author of " The First 
Wives Club" and “ The Best- 
seller,’' contributed this comment 
to The New York Times. 


t t 



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INTERNATIONAL HERALD TRIBUNE, 
WEDNESDAY, AUGUST 20, 1997 
PAGE 10 


STAGE/ENTER TAINMENT 




Zhang Yimou, Keeping Cool in the Face of Censorship 


L OCARNO. Switzerland — 
Zhang Yimou, red T-shirt, black 
jeans, sits on a terrace looking 
out on Logo Maggiore. China’s 
leading Fifth Generation director, who 
has won many prizes abroad and run into 
trouble with die authorities at home, was 
sitting this one out by being a jury mem- 
ber aj the Locarno film festival. 


By Joan Dupont 

International Herald Tribune 


hiTvtnt Story of Qiu Ju” won the Golden Lion 

the following year. His latest film, 

M bune “Keep Cool. ' ' had been set this year for 

Switzerland — Cannes — where lie has also won {sizes 
.red T-shirt. black — but at the last minute, the Chinese 
a terrace looking government pulled it out, already piqued 
fageiore. China’s because a film about homosexuality in 


cause it shows his personality and that 
he’s not lost his touch. I think it will be a 
big commercial success ” 

At a time when filmmakers from 


Beijing, “East Palace, West Palace” by 
Zhang Yuan, had also been invited to the 


ing of moving to the West, Zhang sees no 
question of emigrating. “I can't make 
movies outside China because there’s so 
much to say about China, and 1 don’t 


ting this one out by being a jury mem- Puccini’s “Turandot” in Florence, is 
raj the Locarno film festival. waiting to see whether the authorities 

The jury last weekend awarded the will allow his film, a contemporary com- 
o top prizes to “Ayneh” (“The Mir- edy, to compete at the Venice film fes- 
r'*), an Iranian film by Jafar Panahi rival, which opens late this month, 
out a little girl wandering the streets. At the open-air theater on the Piazza 
da French film, Tony GatliTs “Gadjo Grande, along with Locarno's auteur 


ror”), an Iranian film by Jafar Panahi 
about a little girl wandering the streets, 
and a French film, Tony Gatlif s * ‘Gadjo 
Diio” ( * ‘Crazy Gadjo”), on the plight of 
Gypsies in Romania. “I think both films 
deserved first prize because they are 
simple, thoughtful and well made." he 
said. 


fare, he has also seen the latest in West- when die famil y came under disgrace 


era production, films like John Woo’s 
“Face/Off” (out of competition). 

“It's a good chance to see movies from 
different countries; it's hard, in China, to 


The Chinese director has lived the ■ see so many films,” he said. He knows 


drama of uprooting in his own country, 
falling out with capricious censors as ins 
reputation grew. He received a Golden 
Bear at Berlin for “Red Sorghum” 
1 1987), and a Silver Lion at Venice for 
“Raise the Red Lantern” (1991); “The 


the movies of Hong Kong-to-Hollywood 
Woo: “l liked the ones he made in Hong 
Kong and didn't like the first two he 
made in Hollywood, but perhaps his 


because of his father's war past — he had 
not been on the winning side. The par- 
ents were sent to a re-education camp, 
while the boy worked in the fields and, 
larer, a factory to the tune of loudspeak- 
ers blaring propaganda. Having been 


photography for “Yellow Earth,” by bis 
film school colleague Chen Kaige, his 
way of filming the land, his sense of a 
people immured in tradition, set the style 
of what became known as Fifth Gen- 
eration filmmaking. 

By portraying injustices of past re- 


and I had to change a lot of things. A 
happy end was added, but he feels that 
his mm, with its hip slang and surging 
hand-held camera effects, preserves his 
original style and idea. 

“And I’m really happy with Jiang 
Wen,” he said, breaking into a smile. 


festival. Zhang Yimou, who just staged have much to say about other countries, 
Puccini’s “Turandot” in Florence, is he said. “There are so many things to put 
waiting to see whether the authorities on screen that one life’s work may not be 
will allow his film, a contemporary com- enough. And maybe the day will come 
edy. to compete at the Venice film fes- when China will open up more, and a 
rival, which opens late this month. director will get more freedom — then. 

At the open-air theater on the Piazza definitely one life will not be enough.” 
Grande, along with Locarno’s auteur The director, born in 19S0. was 14 


gixnes. right through the Cultural Rev- * ‘He’s the best actor in China today, and 
olution, Zhang and Chen told the story of intelligent. I saw the movie he made 
what it is like to live under a s tifling , pin toe Heat of toe Sun”] and took a 
oppressive society. In their recent films, video back to my hometown for my 
“Shanghai Triad” (Zhang) and “Temp- parents. We all laughed, 
tress Moon” (Chen), set in Shanghai in “I think ‘Keep Cool’ is toe funniest 
toe '20s, they each showed a boy ’s view film I*ve ever made. When they screened 
of a corrupr world, as if revisiting their it at toe Film Academy, toe public en- 
own painful childhoods. And each has joyed it. I don’t know if foreign-lan- 
used the actress Gong Li, who was guage subtitles will translate toe fun.” 
Zhang’s lover until two years ago, to As to why “Keep Cool” was not 
play a panoply of characters. allowed to go to Cannes, Zhang says, 

“They gave us no reason, but as you 

W ITH “Keep Cool,” the di- know, Chinese authorities don’ t give rea- 
rector has broken with toe sons for not letting a film go abroad. But 
historical film. “This is toe I think it’s because they didn’t like the 
first contemporary movie film! There’s too much that’s about an 
I’ve made. I needed a change,’ ’ he said- individual and bis philosophy — it’s me 
He is pleased with the comedy, which expressing myself, and mavbe there’s 


W 


ITH “Keep Cool,” the di- 
rector has broken with toe 
historical film. “This is toe 
first contemporary movie 


, he won toe top prize 


reputation there has given him more free- Tokyo festival for his pan in Wu Tian- really quite happy, though as we know, 
dora. I found ‘Face/ Off* interesting be- zning’s “The Old Well.” As director of the authorities always ask for changes 


ector Jiang wen. i m too muen or me in it, it s too strong. 
y, though as we know, “I really believe they feel, like when 
ways ask for changes you see someone, and that person malms 


vou ill ai ease? You know? 

They can't think of any specific Nggl 

reason, but they fee! uneasy, and ^ 
toe impact of my films may be too 

bl Marco Muller, director of toe Locarno - 
festival, an old friend of toe director, has 
used his ties with toe Chinese mdiutry ■ — 
he speaks Mandarin — and the Venice 
festival to negotiate the film’s entry. 

“Once I knew ‘Keep Cool wouidn t 
be going to Cannes, I alerted Venice. We - 
have to see if our diplomatic efforts will 
be fruitful, but I know that toe last thing 
you should do when dealing with- 
Chin ese censorship is to respond with 
declarations on freedom, of expression. ■ 
My motto has been, get them to let toe 
film out first, make statements later." 

Zhang, who says be would like to make 
more contemporary films, smiled when, 
asked whether he would be tempted to do 1 
a comedy with Gong. He is considering a , 
project on China’s first empress, starring - 
the actr ess . “She would be playing the . 
first empress in Chinese history, in an- 
other historical film, different from the . 
one I just made. No,” he laughed, “it . 
would not be a funny part” 


*>>j. On! 

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Movie Titles: No Clones Allowed 


LONDON THEATER 


N tw TfUKK. — scanning a 
marquee at a megaplex, 
moviegoers see dipped titles 
— “Conspiracy,” “Noth- 
ing” and “Free” — and are expected 
to know toe rest “. . . Theory,” ”... to 
Lose” and “. . . Willy.” It is the 
business of movie studios to create 
instant brand identification for their 
titles tor even parts of them). One way 
to do that is to make sure that no two 
tides are that much alike. 

The Motion Picture Association of 
America has 1 50,000 titles on file at its 
Title Registration Bureau. It is an in- 
teresting exercise to try to come up 
with a' distinctive tide that is not 
already there. Even if there is no exact 
match, there is the mailer of similarity. 
If a duplication or similarity is noted, 
permission must be obtained from the 
studio that first released the title. 

This year seems to have had a record 
number of title tangles. “Air Force 
One” had a potential conflict with 
“Air Force.” the 1943 movie about 
World War IL but no title protest was 
raised. However, toe independent film 
“Hurricane.” shown at Sundance, 
triggered a protest from Viacom be- 


By Linda Lee 

A'rtr York Times Sen ice 

EW YORK — Set 


cause of Paramount Pictures* 1979 
film “Hurricane,” and was forced to 
change its title to “Hurricane 
Street” 

Oliver Stone thought he was shoot- 
ing a movie called “Stray Dogs” this 
spring. That was before Akira Kur- 
osawa brought “Stray Dog” (1949) to 
his attention, and before anyone got 
around to mentioning Sam Peckin- 
pah’s 1972 “Straw Dogs.” Now 
Stone's film, opening in October, is 
called “U-Turn.” (Not “Utah” from 
1945. “Urn” from 1983 or “Utz” 
from 1993.) 

Walt Disney Co. knew it wanted to 
release Demi Moore's forthcoming 
Navy Seal movie as “G.I. Jane.” The 
problem was that Hasbro had regis- 
tered that name in connection with its 
line of G.I. Joe action figures. Disney 
tried other titles, bnt nothing stuck, a 
Disney executive said. Finally, Disney 
bought the rights to “G.I. Jane” from 
toe toy company. 

Titles, whether for books or movies, 
cannot be copyrighted. Since 1925. 
however, the Title Registration Bureau 
has been charged with avoiding 
“identical usage or harmful similar- 
ity” in movie titles in the United 
States. The studio registers its title, 
often at the script stage. Every day. the 


Title Registration Bureau sends out a 
list of proposed titles to subscribers. 

It is up to the subscribers to register a 
complaint within 10 business days. 
The matter is settled between friends or 
sent to an arbitration panel made up of 
“disinterested parties.” 

‘ 'The majors have bitter fights about 
this,” said an industry source who has 
seen the process. ‘ ’They are screaming 
into toe phone, threatening each other. 
From time to time it does get ugly.” 

The arbitration panel recently levied 
a fine of $1,500 a day per screen 
against Miramax for showing 
“Scream” after the film's title drew a 
complaint. At toe time, “Scream” was 
on 1,200 screens. The complaint was 
that “Scream” might be confused with 
toe 1996 film “Screamers.” released 
by the Sony Corp. The matter was 
resolved privately between Sony and 
Disney. “Scream” continued to* play, 
and Disney's Miramax will releak 
“Scream Q” at Christmas. 

Despite the “Scream” situation, 
money is seldom involved. When 
Fox’s “Independence Day” was re- 
leased last year, it got a friendly waiver 
from Warner Brothers Studio, a unit of 
Time Warner, which released a ro- 
mantic drama called “Independence 
Day” in 1983. 


BOOKS 

CHIEF JUSTICE: 

A Biography of Earl 
Warren 

By Ed Cray. 603 pages. 5 30. 
Sinum & Schuster. 

Reviewed by 
Herbert Mitgang 

I N “Chief Justice,” a laud- 
atory new biography of Earl 
Warren, Ed Cray cannot re- 
frain from contrasting the 
former chief justice with Chief 
Justice William Rehnquist: 
"The justices under the in- 
tellectually rigid Rehnquist 
have restricted some rights, 
particularly toe right of appeal 
in federal courts,” he writes. 
“Still, court observers agree, 
while toe Rehnquist Court has 
not expanded civil liberties 
and civil rights, the conser- 
vative judicial revolution has 
fallen short of expectations.” 

Both chief justices are con- 
sidered (to use a much ma- 
ligned word) activists. To 
oversimplify, it depends on 
whether you agree or disagree 
with their interpretations of 
what toe Constitution allows 
or forbids. For toe general 
reader, a more telling differ- 
ence emerges here by com- 
paring the associate justices 
under Rehnquist with toe le- 


gal stars who sax with Warren. 
There were giants in those 
days. 

In this hefty book about 
Warren’s life and career as 
chief justice from 1953 ro 
1969. several familiar facts 
are underscored that have be- 
come pan of our legal and 
social history. 

While attorney general of 
California after Pearl Harbor, 
Warren played an unwhole- 
some role in putting Amer- 
icans of Japanese descent into 
wartime internment camps; in 
later years he made up for his 
anti-libertarian actions by en- 
dorsing a law against intern- 
ing alleged subversives even 
in wartime. 

Warren wrote toe unani- 
mous decision in Brown vs. 
Board of Education of 
Topeka desegregating toe 

E ublic schools “with ail de- 
berate speed” that changed 
the face and heart of Amer- 
ica's educational system. 

As a consequence of this 
and other decisions. President 
Dwight D. Eisenhower re- 
gretted that he had named 
Warren to the court because 
he considered his ideas much 
too liberal. The president had 
expected Warren to be, like 
himself, a moderate Repub- 


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iican who would not rock toe 
ship of slate. But Warren’s 
libertarian decisions led rad- 
ical conservatives to call for 
his impeachment. 

‘ ‘Chief Justice ' ’ delves 
deeply into these matters 
from 'angles personal, polit- 
ical and judicial. The author, a 
journalism professor at the 
University of Southern Cali- 
fornia, delivers an idealized 
biography that balances toe 
man and his decisions 
through toe voices of friends, 
family and colleagues. 

As one example of toe depth 
of his research, Cray found 
and interviewed 45 of War- 
ren’s former law clerks. They 
give toe reader a behind-the- 
scenes look at toe court's de- 
cision-making process: the di- 
plomacy , toe arm-twisting, toe 
large egos, toe first drafts and 
final writing credits. It’s this 
land of inside knowledge that 
makes “Chief Justice’ ’ a read- 
able and innovative work. 

Warren’s turnaround from 
California prosecutor to 
Washington civil libertarian 
runs all through the story of his 
16 years as chief justice. He 
undoubtedly was influenced 
by three more experienced and 
opinionated associate justices 
— William O. Douglas. Hugo 
Black and William J. Brennan. 
They formed a liberal bloc that 
Felix Frankfurter — usually 
on the right with fellow con- 
servatives John M- Harlan, 
Tom C. Clark and Harold H. 
Burton — sarcastically called 
toe Four. 

Associate Justice Charles 
Whittaker was toe swing 
voter who sometimes joined 
toe liberals in majority rul- 
ings. 

How tod Chief Justice 
Warren manage to achieve 
agreements among col- 
leagues with diverse back- 
grounds and views ? His polit- 
ical experience as attorney 


Dusting Off the Gaslight Thriller 


By Sheridan Morley 

International Herald Tribune 


L ondon — T here is 

something very curi- 
ous, not to say mys- 
terious, about Ka- 
ro line Leach’s “The Mys- 
terious Mr. Love” at toe 
Comedy, and it is not just the ^ — 

way the dramatist spells her - 
first name. This is a first full- L 
length play by a (presumably) 
young writer, and yet had you 
told me it was a revival of a W 
1930s gaslight thriller. I J 
would have had no trouble at 
all with toe idea. 

The George Love of toe title 
is one of those half-true figures 
who are forever turning up in 
now dusty volumes of great 
trials of 1912 or thereabouts. r 
He is a channing confidence ; 
trickster, a kind of tum-of-the- 
century Alfie. whose dodge is ||p|||| 
to many lonely spinsters and K 
then disappear with their often 
meager wealth. A small-time 
Dr. Crippen, perhaps, except 
that there is always an in- ’’S 
triguing doubt about whether V vp 
he plans to kill his victims or B 
merely rob them. B 

It would be unfair to tell r mi 
you which, since we only find 
out at the final fade; but what The Ret 
is impressive about the play- 
wright is her considerable talent for dia- 
logue. She has only two characters: 
Love, amiably played by Paul Nicholas, 
in his first noosinging West End ap- 
pearance. and his victim, an overweight 


general and governor of Cali- 
fornia taught him how ro 
compromise and not try to 
achieve outright victories. 
Fairness was his shibboleth. 

In toe school desegregation 
case, toe author writes, 
“Warren had neatly framed 
toe argument in moral terms 
rather than legal.” He spoke 
to the reluctant justices in 
private before drafting his 
own opinions. One of his law 
clerks recalled that he fol- 
lowed the precept that if you 
wanted to talk to somebody, 
you did not summon him to 
your office; you went to his. 
In the landmark Brown case, 
Warren pressed for two re- 
sults: a unanimous decision 
that would demonstrate toe 
coon was unshakable and a 
ruling unencumbered by con- 
curring opinions that might 
dilute its legal authority. 

“With Brown,” Cray 
writes, “toe chief justice had 
transformed the brethren into 
‘the Warren Coon.’ ” 

A FTER that decision, toe 
court extended its reach 
into other landmark areas of 
American life and liberties. 

Cray does go a little over- 
board in his language sum- 
ming up Warren: “He was 
like an Old Testament proph- 
et. a conscience to remind us 
that this nation could be a 
more perfect union, that we 
individually could be better, 
even more noble.” 

And stylistically, his book 
could have done with fewer 
punchy one-sentence para- 
graphs. But these alarums are 
more than compensated for 
by the solid factual and ana- 
lytical material that Cray has 
assembled with such dedica- 
tion in “Chief Justice.” 

Herbert Mitgang, a jour- 
nalist and historian, wrote 
this for The New York Times. 





-4 


Gcaailna 

The Reduced Shakespeare Company does the Bible. 

[ for dia- young American comics who have been block a f 
aracters: playing their Reduced Shakespeare just years age 
iicholas, down the road ai toe Criterion for almost prestige ; 
End ap- two years now. The joke is much the The J 
rrweieht same* as ever, the Bible in 90 minutes, mere hal 


milliner played with a wonderful mix of plus interval for changing toe Testa- 


self-pity and bravado by Susan Pen- 
haligon in several tons of padding. 

There was a vogue for these two- 
handers in toe 1960s and Leach has 
followed the rules of the brief encounter, 
twisting and turning her characters in a 
power game that takes off in some new 
direction just as it is about to run into a 
blank wall. Bob Torason has come up 
wito an immensely agile production, and 
though in its slower moments one is left 
wondering why a contemporary play- 
wright would wish to return to this mori- 
bund snobbery-wito-violence conven- 
tion of fireside thrillers, it is written wito 
considerable expertise, played with great 
charm, and directed wito real brilliance. 

“The Bible: The Complete Word of 
God (Abridged),’ ’ at the Gielgud, is the 
latest offering of the Reduced 
Shakespeare Company, a remarkable 
group of originally three (now six) 


CROSSWORD 


ments. and toe Reduced Shakespeare 
Company still seems to me a revue or 
cabaret rum mysteriously promoted to 
full-scale theatrical life. 

What we get here is all known gags 
about toe Bible from Creation to toe 
mnsical of Armageddon, written 3nd 
performed in cheery undergraduate 
style. The fact that toe company is now 
packing two West End theaters (say one- 
twentieth of toe total) suggests that 
there’s a demand for collegiate humor 
unsatisfied by toe present "educational 
system on either side of the Atlantic. All 
toe old jokes are here, from fig leaves to 
such old groaners as “Demal is not just a 
river in Egypt”; but toe secret of their 
success has always lain in toeinreaiment 
of their audience. Here we, or at least 
those braver than your critic, are hauled 
up on stage to play all toe animals in 
Noah’s Ark. which is done with a re- 


markably good grace, Lon- 
don theatergoers having at, 
ways been curiously ■ 
masochistic in their willing--; 
ness to pay £20 a ticket and 
then get mocked in public. 

One or two gags are new, 
here, but most are as ancient' 
as the Testaments them- , 
selves, though I admit a* 
Beade fondness for the idea, 
of Jude, toe Lord’s betrayer, 
who could take a sad song and 
make it better. 


| Ed Mirvish and bis son- 
1 David have detonated a bomb- . 
1 shell that will reverberate 
a around toe British theater fra-. 

.. several seasons to cane. After - 
”■« almost 15 years, toe Canadian 1 
‘ a father and son owners of die 
^ Old Vic have announced that 
l> /■ they are “tired” of running a. 
r. - London theater and would tike 

• \ |B to invite bids for toe freehold 
1 f Jfl of somewhere in the region of 
/ VjH £7 million (SI 1.2 million). 

Tbeir decision may have 
''US something to do wito toe fact 

* ■ -*J|H that tins year, toe first of the . 

Peter Hall residency, is going 

1PI11B Iocosta£ least a million pounds 

of debt Bnt the tragedy is that, ■ 
GmaiLna for toe first time since the Na- 
Bible. tional Theatre left the premises ■ 

for its purpose-built concrete 
block a few hundred yards north about 20 
years ago, the Vic had begun to re-acquire 
prestige and a sense of purpose. 

The Mirvishes bought toe Vic for a 
mere half-million in 1983, beating a rival , 
offer from Andrew Lloyd Webber that 
was just 10 percent lower.’ Since then,’ 
though the theater was often turned into a 
receiving house and had one catastrophic j 
neoclassical season under Jonathan • 
Miller, the Mirvishes have spent a for-; 
tune restoring and redecorating toe toeat- ! 
er, so that it is now looking as good as ; 
ever it has. Moreover, in a year when the ! 
Royal Shakespeare Company seems in • 
midlife crisis as it pulls back from the ! (i 
Barbican, and the National is also in a ■ 
state of uncertainty as Trevor Nunn sue- ’ 
ceeds Richard Eyre, Hall has been of- 
fering at the Vic a classical company at ; 
the very top of its form in such pro- . 
ductions as toe Ben Kings ley- Alan ■ 
Howard “Waiting for Godot” and tbe ! 
Felicity KendaJ “Waste” and “The ’ 
Seagull.” This year toe Vic has time and \ 
again proved itself toe best dieater in toe ■ 
country, and I now fear for its future as \ 
well as that of Hall's great company. 




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ironing Out 
Problems 
At Clothier 

Laura Ashley to Curb 
Operations Amid Loss 

\ Oimp&xl by Our 5*&Fwa, Da/wr/jr, 

' PLc°S?P? ~ La®? Ashley Holdings 
hSS Ttie ^ day 11 w °“Id report a 

MgfcSr 

Firet-hatf pretax losses will be about 
£4J million ($7.2 million), including a 
OTe-bme charge of £1 million to close 

190 &?’!? “ W ? c » with the loss of 
190R J( *?' For fuW year to January 
1W8. the company predicted it would 

S?S; e ? Cn -.? >n, P ared witb Pretax profit 
ot a year earlier. 

“Putting the U.S. on hold while they 

«at it aD out is good news, " said Richard 

Ratoer, analyst at Mees Pierson & Co. 

•l.™? a management problem 
though; Do they have the ability to at- 
tract top people to work with them?” 

The news comes amid a series of 
problems at the company, which has 
struggled as the popularity of its 
flowery, prim. English-country clothing 
and furnishings faded. Three top ex- 
ecutives, including its chief designer, 
have left in the past three months amid a 
fluny of profit warnings, press reports 
of management discontent and disclos- 
ures that sales are slowing and stocks of 
merchandise rising. 

After losses in 1990, 1 991. 1992 and 
1995, Laura Ashley appointed Ann 
Iverson, an American, as chief exec- 
utive officer. She had previously 
brought Storehouse PLC's Mother care 
baby goods retail unit back fo health in 
the 1980s. 

Ms. Iverson said this year's setbacks 
meant that Laura Ashley's recovery 
would take longer than the three- to- 
four-year period she had predicted when 
she joined the company in 1995. 

“Clearly, this year is going to be 
disappointing,'’ she said, “but once we 
correct the problems that we’ve iden- 
tified, I think we will get back into the 
turnaround. So it has been delayed." 

Ms. Iverson's aggressive expansion 
in the United States, coupled with cost- 
cutting, helped lift profit and sent Laura 
Ashley's stock price to as high as 219 
pence in September. The good times 
abruptly ended when the company . 
warned in . April that it had moved tod " 
fast and would have to sell off excess 
stock at a big discount. Since then, die 
shares have fallen sharply. On Tuesday, 
the stock fell 2 pence, to 54.5 pence. 

Sales in the first half rose 17 percent 
from a year earlier, or 1 1 percent after 
adjusting for the strength of the 
pound. 


MEDIA MARKETS 


WEDNESDAY, AUGUST 20, 1997 


PAGE 11 



,CTsr3aaPr^«»»' «wt> -a - 



3 HCA Executives Say 
They Did Not Overbill 

U.S. Goverment to Widen Inquiry 




FRYING HIGH — Richard Branson, left, chairman of Virgin Atlantic Airways, and Sir Freddie Laker, an 
airline entrepreneur, after a meeting Tuesday In London with members of the (J.S. Congress to discuss the 
proposed aUnnoe between British Airways PLC and AMR Corp.'s American Airlines. BA's chief executive, 
Kobert Ayling, said Mr. Branson opposed the alliance because he was “afraid of new competition." 

Swiss Bank Profits Weather Nazi Issue 


By John Tagliabue 

Netv Vor] Times Serv ice 

Despite an international black eye for 
their handling of the accounts of victims 
of the Nazis, the big three Swiss banks 
are staging a remarkable recovery from 
their worst year in history. 

Last week, Swiss Bank Corp. said 
that its profit surged 84 percent in the 
first half of 1997, to 1.326 billion Swiss 
francs ($877 million). 

Earlier, the Union Bank, of Switzer- 
land reported a 67 percent rise in first- 
half earnings, to 1.856 billion francs. 

Though Credit Suisse, the largest of 
the three in terms of assets, will not 
formally report its results until next 
week, h disclosed a 70 percent increase 
in first-half net income, to 1.41 billion 
francs. last week when it announced a 
proposed S8.8 billion takeover of Win- 
terthur Insurance Co. 

All three banks said they had ben- 
efited from, increased earnings on se- 
curities trading "in the global bull mar- 
ket, from cost-cutting measures applied 
last year, and from the dollar's recent 
surge, which resulted in higher franc 
earnings from operations in dollars. 
Swiss banks report earnings twice a 
year, not quarterly. 

The results were welcome relief for 
the big three, all of which declared 


losses in 1996 for the first time after 
making large provisions for bad debts 
resulting from a depressed Swiss econ- 
omy. 

So why the quick turnaround? 

“There has been a positive climate 
for the banks," said Thomas Kalber- 
matteo, chief banking analyst with UBS 
Research in Zurich. 

"Interest rates have been falling, in- 
flation is low, and domestically, the 
banks have done tremendous restruc- 
turing.” 

That is not all. The banks are also 
profiting from an aggressive policy of 
expansion. Swiss Bank Corp., for in- 
stance, said that net income at SBC 
Warburg, the merger of its international 
division with S.G. Warburg Group 
PLC, die British merchant banking 
house it acquired in 1995 , rose 60 per- 
cent, to S455 million. 

And if world stock markets shrug off 
recent declines and resume rising, Swiss 
Bank stands ro reap big profits from its 
acquisition in May of the Wall Street 
investment bank Dillon, Read and from 
the proposed creation of an investment 
bank and asset-management business 
with the Long-Term Credit Bank of 
Japan. 

Analysts expect all three banks to 
remain highly profitable in the second 
half, but they, like the market, have 


Rolling Stones and Sprint Go on Tour 


Reuters 

NEW YORK — In a bid to add some 
attitude to its image, Sprint Corp. will 
be the sole sponsor of the North Amer- 
ican segment part of the Rolling 
Stones’ upcoming concert tour. 

For Sprint, the third-largest long-dis- 
tance U.S. phone company, the deal 
offers the chance to raise its profile and 
provides a link to an enormously pop- 
ular band. The Stones, in turn, will get 
an estimated $5 million to $6 million in 
the deal and plenty of wireless phones. 

"It was obvious, the Rolling Stones 
and Sprint are a perfect fit." Spruit's 
chairman, William Esrcy, told a 


in the spring in Los Angeles and is set company can use to entertain major 
for release Sept 30 on Virgin Records, corporate customers. 


Sprint executives said the sponsor- 
ship would give them several ways to 
harness the Stones’ marketing muscle. 
A tour logo even shows the pin from 
Sprint’s “so quiet you can hear a pin 
drop" advertisements sticking through 
the protruding tongue of the Rolling 
Stones’ logo. 

The cost to Sprint was not disclosed, 
but Tim Kelly, assistant vice president 
for advertising and sponsorship, said 
published reports of $5 million to $6 
million were "in the ballpark-” 


Sprint, based in Kansas City, Mis- 
souri, will provide the Stones with a 
variety of telecommunications ser- 
vices such as wireless phones, long 
distance phoning and fax services. 

Mr. Kelly said the Stones' longevity 
— this will be their 13th North Amer- 
ican tour in 33 years and band members 
are well into their 50s — » has shown the 
band has broad popularity. 

"The Stones are the preeminent 
rock ’n’ roll band," he said. “They 
speak to a broad spectrum. It's rare to 
nnd a musical group that has that much 


0 


I l 

Si 


„ Kiam Esrev told a "We wanted to do something pro- find a musical group that has that much 
PftS&S&SZ ^Sprint got a small, bui immediate 

ti e^«3^ d g iv^/~ s 0f wt 

willing » break tom^vennon ““ 'f™^ up for S^t service priority in ference. which was attended by more 
redefine lelecommumca nons. Kb conceit tickets. than 300 journalists. 

The band — wittj ?Se company also will be allowed to With Mr. Jagger behind the wheel, 

nse^eTP.intage and music h, g -to J-d™** , ansvedjn . 

that^e “Bridges io Babylon torn 
begins Sept. 13 in Chicago. The North 
America portion ends ip Uetniary^Axi 
album with the same title was recorded 


with the Stones at Monday's press con- 
ference, which was attended by more 
than 300 journalists. 

With Mr. Jagger behind the wheel, 
the four band members arrived in a 


television ads to be run in the cities of bright red, 1955 Cadillac convertible 


the concert tour. Mr. Kelly said. 

Another benefit to Sprint will be the 
availability of choice seats, which the 


after traveling across the bridge with a 
police escort. "We’re really pumped 
up for it." Mr. Jagger said. 


ruPPENCY & INTEREST RATES 


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reacted coolly to Credit Suisse's 
planned acquisition of Winterthur 
through a stock swap. 

Hans Kaufrnann, research director of 
Bank Julius Baer in Zurich, switched bis 
investment recommendation for Credit 
Suisse to sell from hold. The acquisition 
will presumably increase Credit 
Suisse's overall earnings, he said, but it 
will also dilute per-share earnings. 

"They could have had the same ef- 
fect on earnings with cost controls," 
Mr. Kaufrnann said. 

In contrast to his wariness on Credit 
Snisse, Otaf Conrad of Morgan Stanley 
International in London is bullish on the 
Swiss Bank Corp., thinking that it will 
outperform the overall Swiss market. 

Its acquisition of Dillon. Read and its 
moves into Japan show that the bank is 
"dearly continuing its global expan- 
ses BANKS, Page 15 


CcmiMbyQvStrflFmmDoputrhn 

FORT MYERS, Florida — Three 
Columbia /HCA Healthcare Corp. ex- 
ecutives pleaded not guilty in U.S. Dis- 
trict Court on Tuesday to charges that 
they conspired to overbill government 
health-insurance programs. 

Michael Neeb, Robert Whiteside and 
Jay Jarrell were accused in a grand jury 
indictment of falsifying cost reports 
used for reimbursement from Medicare 
on behalf of Fawcett Memorial hospital, 
a Columbia / HCA facility in Port Char- 
lotte, Florida. 

The indictments against the three 
men are the only ones so far in the 
investigation into whether Colombia/ 
HCA overbilled the government and 
whether it violated federal laws by giv- 
ing doctors financial incentives to refer 
patients to its hospitals. 

The prosecutor in the case, Kathleen 
Haley, has already indicated that the 
investigation is more widespread. Ms. 
Haley has said that more indictments are 
likely. 

A favorite of Wall Street just a few 
months ago, Columbia /HCA’s for- 
tunes began to turn in March after a 
federal raid of Colmnbia/HCA hos- 
pitals in El Paso, Texas. Soon after, 
federal officials said that the govern- 
ment was reviewing whether die 
Nashville, Tennessee-based hospital 
chain had overbilled Medicare, the gov- 
ernment health-insurance program for 
the elderly. 

Columbia/HCA shares, which 
reached a 52-week high of $44,875 on 
Feb. 18, fell 62 J coats to $33 in New 
York. 

Last month, federal agents raided 
other Columbia / HCA facilities. 

The raids were followed by the resig- 
nations of Richard Scott, then 
Columbia /HCA c hairman, and David 
Vandewaier, the second in command. 
The new management, led by Dr. 
Thomas Frist Jr., purged the Columbia / 
HCA ranks of several executives. Dr. 
Frist hired law and accounting firms to 
review Columbia / HCA’s operations. 

Dr. Frist also announced that the 
company would sell its home-care agen- 
cies, which are at the heart of die federal 
investigation. 

More than a dozen people associated 


Global Private Banking 


with Colombia/HCA secretly filed sep- 
arate lawsuits against the company un- 
der federal whistle-blower laws, con- 
tending that the company had engaged 
in schemes to defraud national health 
care programs, government officials 
said. 

The sealed lawsuits, which were 
brought under laws that allow individu- 
als to sue on behalf of the government, 
were filed long before federal agents 
raided Columbia last month. Several of 
the individuals who filed the suits were 
said to have provided information that 
government investigators used in de- 
veloping their criminal inquiry. 

Victor Campbell, senior wee pres- 
ident and spokesman at Columbia, said 
that the new management had re- 
peatedly expressed interest in hearing 
any allegations from employees of 
wrongdoing. (Bloomberg. NYT) 

Insurance Bid 
To Beget Giant 

The Associated Press 

WINNIPEG. Manitoba — Great- 
West Ufeco Inc. said Tuesday that it 
wanted to buy a rival Canadian insurer. 
London Insurance Group Inc., for 2.9 
billion Canadian dollars ($2.08 billion.) 

The offer of 33 JO dollars a share turns 
a bid announced in late June by the 
Royal Bank of Canada. 

That offer, worth 27.50 dollars a 
share, was endorsed by the London In- 
surance board. 

Great- West said that a combination 
with London Insurance would create 
Canada’s largest insurer with assets of 
52.8 billion dollars and 3,600 sales rep- 
resentatives. 

Stock in London Insurance jumped 
6.45 dollars, to 33.50 dollars in after- 
noon trading. Great- West Ufeco shares 
rose 45 cents, to 33.30 dollars. 

Investors Group Inc., Canada's 
biggest mutual fund company, would 
participate in the deal by acquiring 
about 8 to 10 percent of Great- West's 
common stock. Great- West said. 


HEREVER YOU GO, WHEREVER 


YOU MAY BE, YOU’LL FIND THAT 
REPUBLIC SPEAKS YOUR LANGUAGE. 


7.00 7.00 

7v» m 
7ft 7ft 
TV. 7V, 
7W 7ft 
7jn 7.01 


Our multilingual account officers are at your 
service in some three-dozen financial centres 
around the world. And though they speak many 
different languages, all are committed to one 
fundamental principle: to protect our client/ 
capital as we safeguard its purchasing power 
\!,Z'!i!.TiZ ^ It is a simple principle upon which we base 

(.Niuvl.'*. I. nl liratiu. 

our brand of financial conservatism: private 
banking built upon rigor; discipline and prudence. This 
sophisticated conservatism, vigorously pursued, bas created 
a global private bank of exceptional stability, capable 
of weathering the roughest storms. 

Indeed, Republics capitalization ratio, 
on a risk adjusted basis, is two limes as great 
as that required by the worlds international 
hanking regulators. 

To our way of thinking, it is security as 
well as return that we must ensure each day. 

And in tke process, Let provide a unique quality 

1 TorU /(..Wi(fi'irf*rj - 

( . 1.1, 1 }• J* A’lynWrV .VarfiMu/ Wrful 

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3-awflt! interim* 3ft 3 V* 

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10-fWOAT 552 555 

Sources: Reuters, Stoemfeero 4 
Lynch, Beak or Tokyo- MliiuMthl, 
CewBnenSont G*flfJL*»wofc. 

Gold 

AJIA- P.NL. W* 

Zurich 32155 323.10 +020 

Lennon 322.10 22.10 - 050 

Now Yoft 324 JO 32650 i 1JB0 

US. dolhn per ounce. London oHktal 
ffidtHSs Zetricha/tdNpw Kart mating 
and OasSna prices.- New York Comet 
flfcCJ 

SUweefeuteK. 


Ip Republic National Rank of New York" 

Strength. Security. Service. 

A Sjfra lliinb * N>'b Yurt " Ot'iU'Vii * ’ IVijiuj * IWinil " IV.’vitIv Mill- * Kiu'iiiv \ir.-y ’ I. jviitjii i-ljml, ' I ,>}vnliii&*ii " lilltfjlljr 

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- (Li.JJ. Xd.uJiW. f Kt% W. W. 


SookssING &**'**** 
(MdtM. Borne to Ptence 




PAGE 12 


Th& Dow 


30-Year T-Bond Yield 




M A M J J A 
1997 


Exchange index 


NYSE The Dow 

NYSE S&P500 

NYSE S&PIOO 

NYSE . Composite 

U.S. Nasdaq Compa 

AMSX Market V&ue 

Toronto TSE Index 

S ao Paolo Boveapa 

M exico City Botea 

Buenos Aires Menial 

Santiago IPSAGanerefl 

Caracas Capital General 

Source: Bloomberg. Reuters 

Very briefly: 


Market Value 
TSE Index 


850.01 

5617-23 

HA. 


Microsoft’s Apple Stake Reviewed 

NEW YORK ( AP> — The Justice Department on Tuesday 
said it was reviewing Microsoft Corp.'s proposed SI 50 mil- 
lion stake in Apple Computer Inc. and three other recent 
investments to determine if they could hinder competition in 
the high-technology business. 

In addition to Apple, the inquiry focuses on Microsoft’s 
purchase of stakes in three companies that make video tech- 
nology for the Internet, Gina Talamona, a Justice Department 
official, said. The companies are VDONet Corp., Progressive 
Networks Inc., and VXtreme Inc. 

Microsoft said that it was unaware of the Justice De- 
partment’s review of its stake in Apple but confirmed that it 
had received requests for information for its investments in 
companies that make the video technology. “We are con- 
fident that the Justice Department will conclude that com- 
petition is robust once it reviews the facts,” Microsoft said. 

• Advanced Energy Industries Inc/s shares fell after the 
company said it would take charges of up to S6. 1 million in the 
third quarter for an acquisition and to pay for water damage to 
its headquarters. Advanced’s shares closed at S27.625, down 
S4.00. 

• l/RS Corp. agreed to buy Wood ward -Clyde Group Inc. 
for S35 million in cash and S65 million in stock, creating the 
fifth-Iargest U.S. engineering firm. 

• Gannett Co.’s board approved a 2 -for- 1 stock split and a 5.6 
percent increase in its quarterly dividend, (o 38 cents. 

• Ameritech Corp.’s bid to become the first Baby Bell 
telephone company to offer its customers long-distancephone 
service was rejected by U.S. regulators. 

• Home Depot Inc.’s second-quarter profit rose a better-than- 
expected 32 percent, to S358 million, as it cut costs. 

• Qualcomm Inc. rejected a move by Motorola Inc. to add 
seven patents to its infringement claim suit. Biaomhem. afx 


INTERNATIONAL HERALD TRI BUNE, WEDNESDAY, AUGUST 20, 1997 

THE AMERICAS 


U.S. and European Stocks Get Back on Track to Gains 


S r 


Vf 




JU 

lQ M A M J J A 

1997 

Tuesday Prev. % 

©4PM Close Change 

7918.10 7803.38 +1.47 

526-01 fllg.49 +1.48 

90tL92 887.78 +1.48 

4793* 473.55 +1.26 

1600.71 1569.53 *7.99 

841.20 634.59 +1.04 

671 &80 6649.70 +0.99 

11240.73 11132.03 +0-98 
504146 4933.77 +2.18 

850.01 838.71 +1-35 

5617.23 5586.60 +0-S5 

hLA. 9232.07 

IrUcmiuivul Herald Tribune 


By Erik Ipsen 

iMi rrnuni'mil Hgfafci Tribune 

NEW YORK — Optimism had a 
powerful rebirth in U.S. and Euro- 
pean markets on Tuesday as in- 
vestors shrugged off the gyrations of 
the past week and pushed pices 
higher once again. 

Shares soared by more than 3 per- 
cent in the Netherlands and Switzer- 
land, while in New York, the Dow 
Jones industrial average rose 1 14.74 
points, or 1.5 percent, to 7,918.10. 

“If you cannot find a good rea- 
son for stocks to go down, maybe 
they should not have gone down in 
the first place,” said Thomas Mc- 
Manus. chief investment strategist 
for NatWest Securities in New 
York. The last psychological bar- 
riers for yet another run by the bulls 
were swept away Tuesday after- 
noon when, as expected, the Federal 
Reserve Board's Open Market 
Committee announced that it would 
leave interest rates untouched, leav- 
ing the federal-funds target rate at 
5.5 percent. 

A report earlier in the day had 


confirmed investors* faith that all 
was well with the universe. Allay- 
ing fears of an explosion in eco- 
nomic growth that might rekindle 
inflation, the Commerce Depart- 
ment reported that housing starts in 
July had held steady with the mod- 
erate levels of the previous month at 
an annual rate of 1 .447 million. 

Similarly, the end of the United 
Parcel Service strike that had idled 
185,000 workers and had raised 
fears on Wall Street of a shift of 
power back in the direction of or- 
ganized labor, also came as good 
news. Anal ysts saw little in the de- 
tails of the new proposed contract 
that might unleash a surge in labor 
costs either at UPS or elsewhere. 

European markets, inspired by 
the strong 108.70 point bounce in 
the Dow on Monday (after Friday's 
247 point faint) and by die prospect 
of robust corporate earnings growth 
in their own front yard, had their best 
day in weeks. Underlying Switzer- 
land's buoyant market, for instance, 
are expectations that corporations 
there will raise their dividends an 
average of 55 percent this year. 


In London, where the FTSE-100 
Index closed up 79 points, or 1.6 
percent, the rally once again was led 
by shares in pharmaceutical, oil, 
and banking companies. Germany's 
DAX index soared 2.2 percent, led 
by shares in the auto industry and 
hopes that the weak Deutsche mark 
would fatten profits for exporters. 


The sna 
on both sic 


Even many bulls now think that 
stock prices may coast for a bit 
rather than continue their steep as- 
cent. In Germany, where the DAX 
has now gained 44 percent this year, 
and in the Netherlands, where the 
main stock index has turned in 
Europe’s best performance — a rise 
of 46 percent, most analysts say 


ury bond rose 6/32, to 98 9/32, 
pulling the yield on the benchmark 
issue down to 6.51 percent from 
6.52 percent. 

■ Computer Issues Rise 

Computer-related shares rose as 
investors anticipated a positive 
earnings report from Dell Com- 


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1 - 

jin 

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M ,, M,V 
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iUIHI UlUlllS lUi CA1AJJICI9. OJ LWK11L UUCUjaur * . -MnrtMl 

nap-back in equity markets there is little prospect of mai n tai n - puter+ Bloomberg Ne s po 
sides of the Atlantic was so mg the rally ar that pace in the last Technology s a good place to be 


STOCK MARKETS 

strong that some analysts expressed 
concern. “I really would like to 
have seen a 5 percent shake-out,*' 
said Robert Kerr, equity strategist 
for Nikko Securities in London. 
“These prices are justified only if 
you believe that we will have low 
inflation and moderate economic 
growth forever.” 

In Europe and America, many 
analysts concede that stocks are 
rising because there is simply a lot 
of cash around looking for a prof- 
itable parking place in a work! 
where the relative rewards for hold- 
ing cash verge on the punitive. 


mg the rally at rhat pace in the last 
thud of the year. 

On Wall Street, where the Dow is 
up 23 percent this year, but where 
toe rally has gone far longer and 
carried the averages far higher than 
in Europe, analysts also see signs of 
a slowdown. With consumer price 
inflation running at its lowest rate in 
1 1 years and with producer prices 
now having declined for seven 
months in a row — the longest string 
of reversals since the 1930s — many 
market strategists have turned their 
sights on bonds. 

Reading the Fed’s inaction on 
Tuesday as an “all clear” on the 
inflation front, bond buyers pushed 
prices higher for die second day in a 
row. The pice of the 30-year Treas- 


going into the second half of the 
year," said Stephen DaJton, a fund 
manager with Corestates Invest- 
ment Advisers in Philadelphia. 
Computer makers benefit from 
Christmas sales and the launch of 
new products in die second half of 
the year, Mr. Dalton said. 

Investors are putting money into . 
high-tech stocks, which look attract- A 
ive now that many are below their ▼ 1 
peaks for the year, Mr. Dalton said. 

The Nasdaq Composite Index, 
which contains many technology is- - ■ 
sues, rose 31.19 points, or 2 percent, 
to 1,600.71. Intel, Microsoft and 
Dell were the most active issues on 
U.S. exchanges; all three posted 
strong gains. 


MARKETS: Asian Central Banks Raise Rates and Sell Dollars in Renewed Defense of Currencies 


Continued from Page 1 

speculators sent the baht and the 
Indonesian rupiah to record lows 
against the dollar before authorities 
responded. 

Bangkok approved an austerity 
budget and increased the amount it 
will borrow under an International 
Monetary Fund-backed plan to S20 
billion from SI 6.7 billion. Finance 
Minister Thanong Biday a said the 
government was negotiating with 
die Bank for International Settle- 
ments for an additional £3.3 billion 
credit line. AFX News reported 
from Bangkok. 

In offshore trading in Singapore, 
the dollar rose to a record high of 
32.75 baht. 

Indonesia, meanwhile, increased 
interest rates on short-term govern- 
ment bonds to prop up its currency. 
After the dollar rose to a record 
3.035 rupiah. Bank Indonesia, the 
central bank, raised rates for the 
bonds by as much as 18.375 per- 
centage points, to 30 percent. With 
that incentive, investors came back 
to the Indonesian currency, and the 
dollar ended the day at 2,882.5 rupi- 
ah. a 3.2 percent gain over its close 
on Monday. 

Jakarta abandoned its rupiah peg 
last week, following a similar move 
by Thailand on July 2. The currency 
weakness in the region reflects a 
slowdown in economic growth that 


has discouraged investors and made 
it difficult for the export-driven 
countries to pay their debts. Linking 
die value of its money to a hard 
currency sach as the dollar makes a 
developing country attractive to in- 
vestors but can be a burden for ex- 
porting companies as well as re- 
quiring high interest rates. 

With the Indonesian peg aban- 
doned. only Hong Kong among the 


major Southeast Asian countries 
links its currency to the dollar. Yet, 
currency fears Tuesday sent Hong 
Kong shares into their sharpest de- 
cline since the territory reverted to 
Chinese rule July 1. Hong Kong 
interest rates rose sharply and the 
subsequent weakness of Hong Kong 
shares sent stock prices in Shenzhen 
and Shanghai plummeting as well. 
The Hang Seng index fell 3.85 per- 


Thai Cabinet Clears Budget Cuts 


AFX New s 

BANGKOK — Thailand's 
cabinet has approved reductions 
totaling 59 billion baht (SI .84 bil- 
lion ) from the budget for the year 
to September 1998, a Budget Bu- 
reau official said Tuesday. 

The International Monetary Fund 
reportedly had asked the eovem- 
ment to cut 1 00 billion baht from the 
original 980 billion-baht budget. 

Finance Minister Thanong Bi- 
daya said the government had 
opened negotiations with the Bank 
for International Settlements to 
borrow an additional £3.3 billion. 

Mr. Thanong also said that the 
current two-tier trading system 
for the baht would remain in ef- 
fect “until the baht stabilizes.” 

The government’s planned cuts 


will include reducing investment 
by about 10 percent 
The transport and communica- 
tions budget would be lowered by 
9.5 p ercent, while the defense 
budget woold be cut by 7 percent. 

The Interior Ministry's budget 
would be cut by 8 percent, and die 
Health Ministry's budget would 
be trimmed by 4 percent 
Mr. Thanong said the cabinet 
had backed a Bank of Thailand 
study on strengthening the super- 
vision of financial institutions. 

“The authorities will make 
sure that financial institutions 
have sufficient provisions and in- 
crease capital if necessary*. The 
authorities will also monitor in- 
ternal management of financial 
institutions," he said. 


cent, while various indexes of B- 
class Chinese shares, those avail- 
able to foreign investors, fell 4 per- 
cent to 1 1 percent 

The South Korean won fell to a 
seven-year low before foe central 
bank intervened by selling up to SI 
billion in fore ign-curreocy reserves, 
traders said. Ostensibly triggered by 
intensifying worries about the na- 
tion’s bankruptcy-prone industrial 
conglomerates and its debt-ridden 
financial sector, the drop in the 
won’s value also reflected fears it 
could soon come under attack from 
speculators, analysts said 

The won’s weakness could also 
reflea the slump in the Southeast 
Asian currencies, which puts South 
Korean exporters at a disadvantage 
against their rivals in those coun- 
tries. The dollar traded as high as 
901 won, a record since the currency 
peg began in 1990. although it was 
quoted late in the day at 893, up from 
891 on Monday. 

In response to its weakening econ- 
omy, the South Korean government 
said it would raise spending next year 
by only 5 percent, down from a 13 
percent budget expansion this year. 

The Thai cabinet vored Tuesday 
to trim spending by 6 percent, to 923 
billion baht in the year that begins 
Oct. 1 . But that reduction may fall 
short of the IMF's demands, which 
reportedly range up to 100 billion 
baht. 


As economic growth has slumped 
to its slowest pace since the 1960s 
and bad debts at banks have surged, 
the Thai government, a six-party 
coalition, has come under pressure 
to resign. Officials estimate growth 
of 3 percent in the next two years, 
down from rams near 10 percent a 
decade ago. 

■ Dollar Rises Against Mark 

The dollar rose against the 
Deutsche mark as U.S. stocks 
climbed and the Bundesbank left 
German interest rates unchanged, 
Bloomberg News reported from 
New York- 

“There’s confidence in U.S. as- 
sets and therefore confidence in the. 
U.S. dollar.” said Ralph Delzenero 
of First Chicago NBD Corp. 

In 4 P.M. trading, the dollar was 
at 1.8408 DM, up from 1.8335 DM 
on Monday. 

Against other major currencies, it 
rose to 118.185 yen from 118.00and 
to 6. 1995 French francs from 6. 1705- 
francs. 

But it dropped to 1.5137 Swiss 
francs from 1.5170 francs. The 
pound fell to $1.6060 from $1.6062. 

The dollar rose to 1.3941 Ca- 
nadian dollars from 1 .3885, prompt- 
ing the Bank of Canada to intervene, 
following a repot indicating that 
domestic inflation is not a threat and 
that the Bank of Canada will not 
have to raise interest rates soon. 


1 > 1 i 


WORUI 


AMEX 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


Tuesday's 4 P.M. Close 

The top 230 most fldive shores 
up to fte dosing cn V/oll Sheet. 
r*v Assozatf Press 

i» Sete Hf, Lew idea CJije 

is lift ~ 

cii r.. s- sv, 

tit X-. !»:« 25.. .'I 

lie lift lift 111 , .> 

!U 3'* 3ft Urn 

S*» T5*» 1S-I 1J*» -"k 

% IC'l Wm IB*. A. 

IZS 14ft mi U*. *'• 

UW 3*1 a*i 23V. -U 

«ifl lift* it*, mi 

M5 IS. li-i 1SV, 

ibs in iv. lire - * 

no 9>» v-'i ?>» > i « 

33 l-i 11. 1*. -re 

jn it*, it** i»v» -v» 

*ft * » -re 


J4ft 2I«* 

ton id: 


1&*V 14* 
7ft 3*. 


Iff. IBu 
» 30 


feta 5ft 
lift 15*ta 
IJVl lift 
Hi >* 
2ft 2ft 
v>m rrvi 
22 210 . 
6ft ftfti 
5ft 5ft 
lift 11*. 
S«ft 3W 
TP/a IT*. 
tW ft 


im nc Law oijc Indexes 


sv. S*» 

«ft B *ft 


W» Uft 
Ftta 21* 
5ft feta 
121* 12ft 
ft ft 

Sft Sft 
lft iv. 
3ft 3ft 
2ft 2*. 
4H* Jfft 
■Vk ft 
13ft II« 
lav. in 
ft o* 

5ft S 
«*> *1 
17ft 14ft 
4ft 4> 
lift II 
15ft IS 


lift MV* 
21ft JW 
ft* Sft 
lft 2ft 
Mft IS 
Sft Sft 


S 3ft 
ISft 13ft 

■ex n 

ft* ft* 

1} 12ft 

lft lft 
IS*. 14ft 
is ir. 
w>* m 

□ft 3 

IW. Ifft 

Jft J* 


Most Actives 


Aug. 19,1997 


High Law Letts: Chge CfirS 


7*', !»* 

lift lift 

IS'. IS'. 

2 C 24'. 


!»'• if. 
is 

S'*. 5*. 

Oft 10'ta 


5T>. X-. 

21 2 ; 


24ft 23' i 
5« o* 


Wl lift 
4 1 * 4ft 


Sh 5 

si** m. 


79ft 
5*. Sft 
I Jft ID 
1W* lft. 
ISft 15ft 


lft. I 1 *. 
92ft »1 “s 
lift 40ft. 
111. lift 
24ft 23ft 
22ft 21V. 
13ft. 13ft 
lift U 


37ft 16ft 

rift* 1 ) 

14ft Mft 
?Jft 21 
4‘fe 4 


10 9ft* 
lft ft 
7 V. Oft 
131* IMS* 
ISft IS** 
15V* Mft 
4V* 4 

Iff*. M 

IS 171* 


DM 79ft 

3Sft ft* 
lift lift 


Dow Jones NYSE 

avn K«n Ih imt cat. 

7 «4i 27 70IILW 780220 7918.10 .714 74 Boy KM* 

■ OS 2173x0 28 ttS» 7MU2 288041 *055 Compaq s 
UID 2X43 23134 230J1 23134 *1.97 FHiKri 

Ccnp 243509 2453.11] 74Z7.11 245190 * 24.85 GeflBect 

/WanT 

Standard & Poors amd 

Prmnon Today 

H>sk Lot Oow <9*5. HMteflPk 
Industrials 1072/0104941 1072.62 I08B.70 
TrortvC 654.98 M6J9 654.93 656.U mi 1 , 1 

Utilities 197.05 194J9 197325 19447 NtaBs 

Finance IQ5J4 10X15 10573 106/0 PWUAors 

SP 500 912.57 B93J4 912/9 926311 

SP100 888 07 BA4-58 887.78 900.92 


High Low Latest Qtge Opart ORANGE JUICE (NCTN) 

M hw, n. — . 153100 ttis.- certs per Ih. 

103657 37*ii ss=. jrt «3'» Grains 

to * 5 66**. Mft Si’1 *»1 WWb*' • V0,w ' &X 7S0C I*- 3 

fir d5w aSL' 

S36B3 47. H'* -U. Mar 98 274 272‘? 175*. -4 3X455 Mams open irt 36772. ag 57V 

51663 4<P»« toil 40^* »■« Mar 98 281 277 2801. *4 1&143 

■^ l - V!s -w w 284’* 282 283>< -4 17.120 Metals 

^ 4 MS. 204? ‘ SepPS 268 263L. 26 #-.t *** 1/77 GOLD (NCM30 

MI7D iaV Si: eft ..* OK99 26 r.T 263 266ft *4 IL475 100 Iny oaficis per iwy cl 


High Lew Lattst Or/a OpM 

Pm.cpenol- 284723 up 1.273 
ID-YEAR FRENCH GOV. BONDS (MATIF) 


High Lmr Lrtm Chge OpW 

Dec 97 9163 9X53 9163 +0.09 101.154 
Mar 98 9194 9184 9194 *0.10 54911 


S*p97 6930 67/0 VOS -1*5 11720 rFSCOOO - Dt> of 100 pd Tun 98 9418 9410 9417 +007 44081 

Nov 97 7080 69/3 7350 -IJ3 71547 S*s?7 13X3 139J0 13X20 *032 15X299 Sep 98 94J1 9425 9431 *0.06 37.20 

tan 98 7380 72/0 7X40 *133 JL433 Dec 9? 9»32 ^80 99.16 +030 11.771 Dec 98 94J9 9436 9438 +tUB 25448 

Mar 98 7650 7500 7630 -J /0 1640 .•4ar 98 9828 9828 9156 * 030 0 c it-nn 


5US5 86ft 15ft *7V* „ 

53(83 41'* -1*. Mar 98 

51668 ton. 60ft 40^* May 98 


33 . iniw Ert. sales NA Mon sales 1 1.125 
-4 38455 Man open W 36372, op 529 


50579 27ft 26ft 776. ♦’* jy gg 
50016 Mft 4 3>m 64ft ♦«« j-, gq 
48314 204. 2»» 204* * 


46730 40ft 40*; 40ft -ft 266ft 

46547 IW 104ft ire *4 EsL wrtes 17300 Mom sales 39.7B8 

47C6 4?V. 4?: - W 274685. wp 1*1 


Nasdaq 


asssassr" tss m 32270 :«s n “..slSStS - 

Oct 97 32500 373.10 32X70 -1® 15590 5 s1 

SOYBEAN MEALICBOT7 Dee 97 329.711 32450 32633 -l.«MK/58 riev.cpK sX; 107.766 oH 1/80 

100 Ians- Dollar! par ion FtO 98 3» 90 327J0 3ZA20 +I3S 1*977 I1M „, UBUWlrul:lK 

Aug 97 27100 26500 77X30 *7.10 1760 Apr98 HOOP -1.33 £342 UBOR 1-MONTH (CMEfO 

Sep 97 236/0 23050 23540 *5.00 21814 Jon 93 33tl0 33150 332-70 -1.80 7/79 Endpon-Cls at 100 pet 

OcS 97 21430 209.00 21400 *6.31 15971 Aug 98 35430 -1/0 1156 **37 9436 9436 UTOL 15SS3 


.v.ar W ^ ° EsLsrtes: 45948. Prtv.srtes; Z4312 

Esr.iate:Sifi37. Prev. open W.: 391/41 off 200 

Open 770C70 aH 2^97. 

ITALIAN GOVERNMENT BOND CUFFE1 . ^IlS? UStl ^ a ^ S 

rTL 2tXJ Efl&an - pft at 100 pa COTTON 3 (NCTN) 

Sep 97 136.10 13535 13500 *4Lffl 102.701 0/00 lta.-«rts pwRL . 

OrcU 10830 107.99 108.15 +039 5065 Od97 7235 7X30 BS 032 MB 


ITALIAN GOVERNMENT BOND (UFFE1 

rn. 200 BSion - pts o* ion pa 


a 97 32X60 32270 ±r‘&' “J.90 575 vcr9S N.T. N.T. 108/9 *039 107.7(6 0*9 97 ”4 j00 7X45 7X85 +0.07 42.771 

>97 323.70 -L9S 2 T~ M»98 7530 7435 75.10 +010 1X281 

• n Sna!!* 1 # Moy«8 7X90 7X50 75JB +0.13 A70fl 

:97 329.70 22450 52 6 5 3 -180120/58 rrev.cpK sfl_ 107.766 off 1/80 Jt* eg 7&JS 7630 76/0 +033 1989 


J«9B 7635 7630 76/0 +023 3,989 

Ed. sates NJL Mans sates 12331 
Atarrs open bit 8035& up 1>343 


Nasdaq 


479/4 47X55 47954 *5.99 MwKl 

S06J7 m.n 60637 -434 DeCCfllS 

*3530 43250 <35.06 ti58 Q wdas 

28732 2353* 28733 +I.94 Ascart 

44631 44158 446/1 *5/3 WhOtI 

sunMK* 

SSr- 

mo* ft* a* Cisco 

160031 157803 1530.71 +31.19 **2,.^. 


iS. im* *”! 20SJ0 199A0 20460 -5. 00 41380 0098 336/0 -I/O 

IS*' 13 ^? ISf ,i4i Jan9 « 201 50 196JB0 201/0 *630 6.737 6a saws NA Mon sales 40790 

90<34 40ft 39 404* -2ft M«9i 198/0 T92/0 198.00 +630 1457 M«rs open fell 206/22. up 834 

5® 479* 45ft 46ht -If* Est ides NA Mon uOn 1A302 


47 ^ 49 ^ Mens opai bit 11X344 up 787 

3!* .S’l cnvnciunii mnn 


HI GRADE COPPER (NCMX) 


CO 97 9436 94J< 94X5 unch. 7JS1 HEATING OIL {HMERJ 

Ncv 97 9431 9431 9431 -001 6377 424)00 got, cents per gal 

Est setts NA 7Jtan safes 74)08 rrZcl « 12 SS 

ftom open « SS251. up 1525 ^ 


1*97.71 W/2 1696.12 
2034J9 707X44 2034J9 
101X45 1004/9 V0U4N 


-454 AcaiMed 
+1636 *«Wen 


59214 103 
58754 p* 
57318 4ft 
54668 Sifts 


SO 50T* +ft 


SOYBEAN OIL (CBOT) 




Aug 97 

97/0 

96-50 

97/0 

+1.10 

1/88 

6X000 fiu- cents per U> 




Sep 97 

9X20 

*650 

97.85 

*1.15 

20/25 

Aug 97 

2233 

2208 

2215 

-am 

486 

Od97 

9830 

9720 

9X15 



Sep 97 

22.40 

22.13 

2223 

-004 

T9J81 

Nov 97 

9X10 

97.90 

97.95 

-7.35 

1/92 

00 97 

22/0 

2231 

2240 

-0.05 

1*351 

Dec 97 

9X35 

96.70 

9805 

*125 


Doc 97 

2302 

22/1 

2274 

-004 

4*829 

Jon 98 

9825 

97 M 

91 2s 

-MS 

70S 

Jan 98 

234)5 

2285 

2191 

■04b 

7/TO 

Feb 98 

9X00 

97/0 

97/0 

-1.15 


Mai 98 

23/5 

2X06 

2120 

-0/1 

4712 

Mar 93 

97/0 

96 M 

97*0 

-125 

2/17 

Esl uries NA AAons votes 1 1,643 


Apr 98 

9720 

9690 

97.00 

+1.15 

464 


EURODOLLARS (CMERJ 


5ep97 56.10 554)0 5531 +062 3LCS 
Od97 5X95 55.90 56/0 +061 31881 
No* 97 57/0 57.10 5730 +056 194*0 

Dec 97 58/0 57.95 SB.TD +056 20487 

Jan 98 ».W 3870 5X70 *0/6 15.715 

Fob 08 5900 5X70 SB.75 *0/1 4215 


Ini'-::: - 


64130 63459 44130 *441 


36948 92ft 919)i 92ft 


Dow Jones Bond 


20 Bonds 
10 UHBItts 
10 Industrials 


Trading Activity 


AOtancM 
Qed4¥«l 
Jndwngwl 
Total issues 
ffewHitfn 
Sew UMrs 


Mn need 
DedlnM 
Undcnaed 
Tarn Ksues 
NewHWK 


6ft 7ft -ft 


Atoms open M 97,241, off 1.1 1) 


SOYBEANS (CBOTT 

54)00 tni artnhmim- cmh per bushel 


Est safes taOOOAAairs safes 14249 
Moirs open tart 46363. up BS2 


SILVER (KCMX) 


11941 56ft 5+* 5ft -V* AugW 793ft 771ft 779ft /ft 1.719 548)0 tray oenls per Irpy OS- Est safes NA MoffS sales 42*833 

6627 31ft 30ft 31V* -lft Sep97 e59 650 654ft +4 1*389 Aug 97 45030 44X00 45030 *1.00 14 WWn* open rt 2,78*141 Up &159 


5566 5ft 

5445 V, 


-aOl NVTjnw 
+X16 te‘9* 


Nasdaq 


543S 3M4 79>4 30V* 

4899 47ft 46ft 47ft 
4228 ll*» lift lift 


5». 5ft *Vi Nov 97 621 607 619ft +!lft 81575 Sep97 4-n/yi 447/0 45TJ0 -1.00 43W39 

' J; Jpn9i 624ft 610 623ft *12W 17,169 Od«7 45*90 +1410 78 


Am 99 03.73 9170 9331 -0.02 100826 Oct 97 20/5 20.14 2033 +0.18 99, WO 

Sep 99 93/9 9164 9168 41.01 8*776 Nov 97 20/0 2037 20/1 +0.16 42/73 

Dec 99 9X61 9X58 9160 414)1 71271 Dec 97 30/2 2032 21U5 +0.14 50.207 

MarOO 91(0 9X57 9X59 -04)1 6*075 Jan 98 20/0 2X45 20-45 +X12 3X772 

Est. safes NAMotrs sales 42*833 Feb 98 20/6 30/2 20/4 +XT0 17/68 

tTWns rtwt tad 2>78*14X up 1159 EsL ides 974)71 Mom sales 89/31 

Mcirs open W 435.141, off 6,999 


BRITISH POUND (CMER) 


lft _ ESI safes NA Mon% sales 35404 
ft _ Mcffsapenlirt 13*99* up l/ll 


Sap 97 1.6100 1 


”. NATURAL GAS INMER) 

lCLDOOmm Mtrs, s per mm bin 


2046 

SS 

14)9 

1414 

523 

3416 

65 

X 

Aawnced 

Der/ned 

Uochongfel 

Tatart issues 

as: is? 


Nvaa 

1957 

I3S0 

iun 

5419 

85 

63 

Prev. 

1895 

7190 

1669 

5754 

174 

TO 

On* 

Prev. 

Market Sales 




"I 

735 

30 

3 

243 

336 

1(3 

741 

73 

11 

NY5E 

Arne* 

Nasdaq 

Tsdqr 

698 

5*5-58 

21-53 

61Z19 


prev. 

617.2! 

2556 

545/0 


WHEAT (CBOD Jl*99 472.4C 

54)00 bu ntartmum- certs per bushel EsL safes 11000 Matrs safes V 

Sep 97 362 357ft X60ft +3L, 2*436 Mons open Irt 90/41 ertr 1171 

Dec 97 377 374 375ft +3 5*874 

Atarw 3B7ft 385ft 386ft +2 164)36 PLATINUM (NMER) 

May98 390 388 389 *lft 1/30 50 toy at.- dollars per troy ar 

Est. sOfes NA. Mans safes 11637 00 97 *1600 407/0 408.00 


Mar 98 465/0 46100 46*30 +14)0 10640 1 1J»« 1^B04)4»5B 1,093 Sep 97 2-5JO 1528 +0.102 41,733 

May 98 469/0 461/5 468/0 +1.00 1072 Mar98 1591* -04X13 208 Od 97 7ASQ ^635 7 571 -0.087 42/62 

472.40 +1.00 1161 Est. safes NAAtotrs sales 1339 Nov 97 2/85 2/7/ 2/62 +04)82 1*729 

EsL safes 11000 Man safes 1*800 Mon open Ini 49/99. off S3? Dec 97 1825 1700 1792 +0.087 1X580 

Mon open Ini 90/41 crtT 1171 1825 1715 1790 *0417 S 1J«4 

CANADIAN DOLLAR (CMER) Ifeb 98 1645 1569 1590 +X04S 1149L 

PLATINUM fNMER)_ 10X000 dolto^S per Ola dff Est safes 6X384 Mon safes 312*5 


Man open Irt 49/99. off 537 


CANADIAN DOLLAR (CMER) Feb 98 1645 1569 1591 

PLATINUM (NMER) 10X000 DoltoiS per Cdn. dff EsL safes 6X384 Mon safes 3 

50 frtry qj.- dollars per fray az. '512 J1 ? ^ 0tnz 51,740 Moirs open Irt 22X62X up 878 

00 97 41600 407/0 408. 00 A40 11.168 2^2 1252 2'J 5™-°-“32 *W7 W 

Jan 98 4074)0 40100 407.00 -6.90 2/93 M»98 .7275 .7245 J249OJK02 694 UNLEADED GASOLINE INN 

Apr *8 40*00 396JO 39*50 -6 90 428 Esf. safes NA Mon sates *352 -OOOOort. cwifswr od 

J«I9B 39150 -6.90 1 Mon open Irt 57.641 up 765 Sep 97*^67/5 * 5 JO 67/1 

EsL series 1/77 Man sales 122« 

Morrs open Ini TAI9X off 333 


to Livestock EaLK^OTMtfeswn 

CATTLE (CMER) Morrs open Ini 1*1 «a off 33 

4L000Ba.-cenhperlb. 

AUR97 66.70 66/S 66X7 -0,10 *129 1 nunne urTm t it Met 

P»»v. 00 97 69.45 6X50 6X85 +XI5 49/10 )£ £** * .* *^7* * £ tLME1 

cam. Dec 97 71X5 7X70 71.00 +4L22 21.907 ■ 

■17-21 Feh 98 7X17 7270 7285 +aiO 11/50 ^ 

25/6 Apr 98 7507 7*65 74AS +0.10 *934 


^ UNLEADED GASOLINE (NMER) 

424)00 gaL cents per gal 

Sep 97 67/5 65/0 67/1 +214 3*274 

00 97 61X5 59.95 614k. +1.12 26.981 

Nov 97 58481 57/0 58/1 +X77 1X706 

Dec 97 5X20 57/0 S84B +X65 11.161 


Nov97 57/0 SBJBl *0.77 IX7D6 

1 21000 mark* S per mark Dec 97 5X20 57/a 584H +Q/5 11.161 

Pttvtous -f Si -ftS 98:775 J " 98 xm SUO +QA 2 9-957 

™ S8J9 5X30 58X9 +0/9 1570 

Mir98 /520 /SOS -5512 -00035 1/22 Mar 98 58.93 +Q /7 *#29 

Est. sales NA Atom sates 31441 Apr 98 al ^2 +0/7 1228 


545/0 Jyn 98 71.90 71/7 71X2 *022 2767 Foiwort J 63X00 I ]6j5Vi Te75 00 le804V 


177600 1740.00 17504X) Marts open irt 10*731 all X856 


Dividends 

Company 


Per Amt Rec Pay Compaiy 


Ed. sales 1X646 Man safes 212*2 
Atom open Ir* 95.166 off T. 154 

FEEDER CATTLE (CMER) 

5O0M tbs.- cents per K 

Per Amt Rec Pay Aug 97 bom 8020 so/7 -04» *194 


bodes OOgta Grade) JAPANESE YEN (CMER) 

2138ft 7141ft 21584)0 216X00 12/ Milan yea S per 100 yen 


Mar 98 5X92 +057 *#29 

Apr 98 61.62 +0/7 2,278 

EsJ. sales 32/57 Allan safes 32/78 
Mans open ini I0&67X off 875 


Fonjjrt 2144ft 2145ft 21(000 216X00 &p97 telB .MT6 OgJGMOS 7X2» U/. Ootos per melne ton -tatsol 100 tors 

”? DeC?7 .8610 -8587 3H0S-0M25 7A72 Sea 97 17150 170JD 17175 + £75 75 TQ1 

Sm 4 ??% #to9B /720-04W26 529 OcJ97 17425 17X50 17375 - 5J5 1*666 

Favrart 607.00 6034*) 6104)0 61 LOO EsL sates NA AAan safes 1X626 


Dekalb Geneffc Bn - .035 8-29 *12 *■» 65904* 66004* *5804* 65854* ^oP9nW8).23Xo«975 S? 9 « ,'/*S 1?g !”3 t " 

gW GjM Td _ -05 9-2 9-16 ^ word ww -°° a70ao ° M«4» SWISS FRANC (CMER) Feb 98 175.75 17X7S 177.00 + 2 X 

Raperlrefestn - 06 10-17 10-31 Jan98 ip 44 87.90 8217 +X70 2073 Si, mem c-uim rwr ctmim 1 254)00 francs. S per »nmc MW98N.T NT. 17*75 * 0.2 

REGULAR AAar98 *220 824* 8210 -a IS uu OT0.S S ^00 S" M76 irtS^OOlO *7% X67T 


CodScftweppes b 34] 

Cross limber Roy _ .147 

Elsevier NV b M 

Honan ADR b M 

Pemwin Basin . JUj 

Rexam PLC b 4E 

San Juan Basin . 4)71 

WMC Ltd ADR b 301 

STOCK SPLIT 
Gannett Co ? for I split. 

STOCK 


b 3476 ftl9 12-1 
_ .1473 B-29 9-15 
b 3803 8-22 10-14 


- 06 10-17 10-31 

REGULAR Mar 

O .1265 9-15 10-1 


Jon 98 8X55 81.90 8217 +0.10 1072 Soot 

AAarOS 8230 B2JM 8110 -a IS UJla 


NOV 97 175.75 17*4* 175/0 +4/0 7,560 
Dec 97 1774* 175J) 177.00 ♦ *00 J1B2S 
Jon 98 176/5 17*25 177/0 +34* a 159 
Feb9B 175.75 175.7S 177.00 + 200 *989 
Mar 98 N T NT. 17*75 * 0.25 2/76 


%n4 9.15 SsSbSiwiw 

L 2T4 9-15 Doj El ADR 

b 3077 9-25 11-3 FetlrtgosPrTnr 

SPLIT FsJ Find Corp Rl 

HarKXiPatPrOv)l 
HoroeOty Frnd 

CK Huntcolnc 


-333% 9-5 9-12 


MortooCap 

REVERSE STOCK SPLIT AAcrihaH Ikfey 

Beveitme Store 1 for 2ft revane spffl. fft?E?S , =!S OT 

Mego find /73 shares of AAego Mortgage Og £- en1 Rn<3 
for eadi share heM. 

INCREASED Reynolds Metals 

Am Greetings A, a .18 8-27 9-10 Storage Tnret 

FstAAcrehants 0 /8 9-5 9-19 SunSoarreLPA 

Gan nett Co O 38 9-12 KM Transtmi Inca Shr 




O.I255 9-I5 10-1 Ert. sale* 01)14 Men solw*W7 pK CSpedrt NM Grarie) 

0.1182 9-15 10-1 Marts open tall 22/87. off 300 SpoJ 1625J» 163QXW 163000 16334* 

- 30 8-29 9-12 . Forward 14724* 147*00 14014* 1492.00 

b .14 X29 — HOGS-Leoe (CMER) 

O .50 fl-31 9-17 40000 Its.- cents per to. HIM Law Oase One OpM 

Q S oils Vs Od 97 70 to WAS 7X30 +&3S 17,274 

M 8-25 a is D« 97 67/7 66^ 67/7 +X72 6^497 rfcvwn.j., 

O °0B 915 FW” 8 64J ® *SZ5 6*27 +0/7 2/76 ^o^E ariC * al 

Q (G5 X29 9-15 A * ir ® 63.77 6230 6150 +0J7 1/13 


ea. safes NA Man safes 1X981 BRENT OIL UPE) 

Mon open W 5*109, oft 1,153 UZ. doltars per barrel - lots of 14)0) barrels 

AMDUCAN PESO (CMER) gg SZ ££ ^ ll\i %% 

““ Jon9B 193? 19^ la!? 1*400 

2*2 -'SB 12^5*030050 Fe098 NT. N.T. 19.22 + Oil £we 


MEXICAN PESO (CMER) 
5004*0 pesos, S per peso 


Mar 98 .11882 .11865 .11865+4*106 5.18* Mar 96 


32 8-29 9-ts EsL sates 6/35 Atom sates 10/91 
30 8-29 9-12 AAon open tail 3*661, up 83 

34 9?15 PORK BELLI E5 (CMER) 

.13 9-5 9-15 40000 lbs.- ante per Bt. 


SES "Ell S 55} i'S? EM sates NA Alton Safes *464 

2155 Sfff SS 52! Man epen ml 4*87L up 431 


Mor98 94/2 9*81 9*82 -0.01 14714 

E*L wries NA AAon safes 1 J15 3-AAONTH STERLING (UR=E) — — 

Man open taii 1X912 up 36i csoaooo- pis of i oo per Stock Indexes 

9174 9174 9174 —0.02 109/76 SP COMP INDEX (CMER) 
?.t?J3 E * SURY,cflOT7 Dec 97 9i*4 92/1 92/1 —a 02 171/39 SWxoide* 

StOCMOprtav jj(S &64thsa< 100 pa Mar's 92/0 92/S 92/6 —04)3 9X573 Sep77 92X70 91510 9784* +9.25 18A/37 

rS5i !£22! J2J - ?? !£Z- 14 /""S ?7/' 9156 91S7 -X02 49.216 ntM mm ntJsa + 0*5 ta*u ' 

Dec 97 107-04 106-61 1074)1 -01 19/79 Sep 98 92/4 92/9 92/1 —001 SX252 **»98 93835 unch. 1247 

ESL totes NAMarsiafes 38/78 gec^ W-™ 91to 91*2 -002 4XO<8 Es». safes NA Atons sates 79JI0 

Morrs open tail ZT7/SX off 5*09 Mar 99 92. 74 9171 9173 —001 3&9IB Morn open W 199.783. up 1,947 

I*** TREASURY (CBOT) Prev.’apm up^/S’ 4 ** FTSE 199 (UFFE1 


AAor98 N.T N.T. 19.16 +X11 1995 

Ed safes: 27.500. Piev. safes: 1 7,253 
Prev. open BP.: 162/9$ up 967 


Q - T5 i ll KL1 fiSw H32 7X20 7X« *iw 15W 

0 ^ 0.15 |0-15 Mor98 71.40 2000 71.15 +130 30 i M P° 


1 97 8377 82-55 83. 7S +I.4S 


0 Z35 9-15 IMS T1.40 TOO 

M 4)916 8-29 9-30 Est. safes U04 Atom 


38 9-12 10-1 Transom Inco Shis Art .16 8-29 9-15 (Aon open tail *635- up 103 


.17 0 2 9-15 
34 9-2 9-15 


RosfenBncp O 06 9-2 9-1? Trans Find 

Statewide find Q .11 9-5 9-29 Whirlpool Corp 

initial ■ 

CammunffyBnSC n - .075 9-2 9-15 iim wUb tB E-quarterHC » —I — M 


COCOA (NCSE) 


EsL sates N A Men sates 3X678 
Artons open hit 277/SX off S.609 


1552 

1526 

1525 

-8 

2,107 

1568 

1540 

1553 

• 10 

3X216 

1591 

1574 

1584 

•7 

2X784 

1*12 

1598 

1603 

-9 

12276 

1633 

1623 

1623 

-9 

2/75 

1654 

1645 

1645 

-9 

3.941 


10 YR TREASURY (CSOT1 

Sioaooo prtav pts& 32ndsa(10opd 

!£2*? 7 !EL5 undi UlJtft s-a#onth euro MARK (UFFE) 


Stock Tallies Explained UgJ" !« « 

Safes flares reeimoffidaLYearttrlilgfc md Ioms retied Hie previous 52 week&pkis the ament Jutrt 1633 1623 1623 

vree*. but notpr* late st tra d ng day. Where ospWorstadtdfeetond o mounfeigta 25 percent or more 5^ 98 1654 1645 1645 

has been paid the yaw hjgt+tow range end dvfcfefKf aw shown tor me new stod/anfe. Unless Est.Mries6,926Atoiwsatei9/7l 
ataefwfce noted, rates ofcfivktends are annual (Ssbwsemerts based on Die tatest dectamian. Atarrsopen tart 9X701, up 272 

a - dividend aba extra (51. b - annual rate of dividend plus stock dividend, c - liquidating rnmp c rvon 
Onrtdend. ce - PE exceeds 99.CM - called, d - new yearly low. dd- loss In me last 12 men ms. ^jon^ernisper r> 


2 79.157 DM1 mHnari - pK 0(100 pd Doc 97 497 x 0 495X5 5010 0 *101.0 

■01 1.944 59P97 «4*7 96.6S 96/7 *XX12 25X9*7 Mar 98 N.T. N.T 505*0+101.0 


FTSE 199 (UFFE) 

£2S per Imfea potaH 

SepW 49474) 48780 494*0 +1014) 71,974 
g« 2 <9S0 - 5 5010 0 +101.0 £.420 

Mar 98 N.T. N.T 505*9+101.0 J9i 


Man upon ml 4Z2.670. up 1775 

US TREASURY BONOS (CBOT) 

(8 pd-flOXOOOflsA32nds afKB pet) 


SS8 £5? 525 xzrjmj- 

S3 S8 SS 33 388S IS SSSISSL. 


$op*7 114-14 113-23 1144» ♦ CD 502^234 Dqc99 95.74 95 70 95.74 15*714 

UK 2 JlfiJl r !2**2 113-2* + 03 41/76 95/8 95J1 95/s +04)4 12*345 Seo97 0 29?ln ’22 3MS0 

Mar9« 113-21 113419 113-U *m 32/02 n -‘ a “’S 34 9539 <404 7X435 Sn IS l«lsn wen 114,1 


• - dividend declared or paid in preceding 12 months. I - annual rate increased an last s«p97 18X00 1B3M 187.10 +*90 *5(8 cusHhn* 

dedarafloR.g-dMdend In Canadian tunas, subject to 15% non-residence tax. I -dividend Doc 97 168.00 16530 167.15 +*30 x«3 MorreoS^ m 2oa364o!i 


s ** 9520 +-SS SSt S£S SSS SSi W *a? 


declared after spftt-up arstocK dividend. dividend paid lids year, unified, deferred, ar no *52 }22 f?2S 

acthm taken at tatesl (fivldend meeting, k - dividend declared or paW this year, an JJSJ" JJ/O ^fo *100 'aoi xmS 1 . 

nrnimii Ini w. mm. miih rilmWiH. In — _ —.n.ml m+» Inrf ,1-^in.n+ u .n Ju,vs IJ * ,U UW»-»Slarts( 


Ert_safes: IM3B . Prev.srtes: 131939 
Prev. open ml.: 1/85/07 all IX32A 


accumulative issue wilh dividends in arrears, at - annual rate, reduced on last declaration. 

n - new Issue in the post 52 weeks. The high- tow range begins with the start at trading. iSrvcwnSl l«E Stm 
nd - nest day delivery, p - initial dividend, annual rate unknown. P/E - price^eambigs ratio. 


LDMGCILT (UFFE) ] -MONTH PI BOR (MATin 

£5X030 - PIS &3atds otl 00 pd FF5 mMicn - inscta 100 oct 

«97 JJtSI lltS . Un Sh ,W - ,aa S* 9+J2 U6J4 , 003 to2*5 

□K97 114-24 11*20 114-22 Unch. 1O051 Dec97 9440 Oftjn at^io + X08 42/34 ( 

CM. sates: *5396 Prev safes 4*150 Mar 98 9628 9433 9678 + 007 3 X 9 M 

Prev 6ponirt4 177.219 up X248 9616 9X12 9616 *04)4 *731 

GERMAN SOV. BUND (UFFE) !?* **" ^ **«♦«» »3?0 Muady-s 

DM250,000 - Dll at 100 ud EsI safes: *Lbl5 S*! ,, SS. 


•Are *8 2962-0 29670 3000.0 +70/ 91BO 
E«. safes.- 17,253. 

Open InL: 69/18 up 385. 


q-dased-end mutual fund, r-dtvtdenddedared or paid in preceding 12 months, plus stoc* SUGARWORLD 11 (HOE) prev. «panini4 177.219 up X248 An 98 9616 96.12 9616 

^^iito^lTT. tl.M +X07 9X53. GERMAN SOV. BUND (UFFE) 98 960? 9698 9* 02 

siocx in preceding 1 2 months esnmo led cash vafcie on ex-dhridend or ex+lfstiSiullon dale. m_oo mi uoo 12/5 +a05 66872 DM250000 - nfinl 100 od “ Esl rales: 6L*15 

u - new yearly high, v - Iroding haBed. yl - In bankruptcy or receivership or being reorganised Mar ft IZDS 11.96 12.07 * 04* 1*655 5ep97 102.92 )02/0 102/6 , 0 « lusn “Rm Ml: 76x*42 up 141 

under the Bankruptcy Act or secunHes assumed by such companies, wd - when distributed. j/« 11.92 11/4 *1 90 -4)05 9,749 Dec 97 1020 s lOleo 102/1 ’a. I 

wl - when issued' ww - wBh wurranls. 1 - ex-dhridend or ex-rtghb. ufb - ex-aistribulian. eh. sates 27.302 Morrs sales 17J0S Mreus N.T N.T. 101 .I 6 *X40 28X723 ^?*L"J- ,,, ®yKl UF FEl 

+..jui>. i i~iui_^i..h ,..««kui AAotis open Irt 1 97.93X up X01 4 PUB**, raw D_ — ... — mi. i ntwai - pltal 100 pet 


Commodity Indexes 


Reuters 
DJ. Futures 
CRB 


Previous ^ 
1-559.00 ‘ » 
1.894/0 ' 
U8.0S 
237/8 


» - without warrants, y- e* -dividend and sales in full. yM - yield, i - sales In fulL 


,aK '- — KB" , SL» *h m* fSSSSI g-=— 







SAGES 


<M 


\JU * | 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, AUGUST 20, 1997 


4 


i 


t > 



PAGE 13 


Bayer Net 
Rises 12%, 
Helped by 
The Dollar 


by Our S*fF*m Pupatfe, 

^VERHAUSEN, Germany 

Bayer AG said Tuesday that 
jwsr-nalf profit rose more than 
12. percent as its tax burden eased 
and it benefited from favorable 
currency-exchange rates. 

The chemical and pharma- 
ceutical company said that 
profit rose to 1.72 billion 
Deutsche marks ($946.4 mil- 
lion) from 1.53 billion DM. 
Pretax profit rose to 2.788 bil- 
lion DM from 2.72 billion. 
Sales rose 11 percent to 27.4 
Million DM. 

Bayer said it expected earn- 
ings to rise for the foil year. 

“For the second half of the 
year we expect the lively de- 
mand to continue and exchange 
rates, especially that of the U.S. 
dollar, to remain stable." the 
company said. “We believe 
that the price erosion experi- 
enced in the first half can be 
halted and that the urgently 
needed price increases can be 
implemented." 

^ Bayer is the last of Germany ’s 
“big three” chemical compa- 
nies to report that earnings were 
lifted by a strong dollar, like its 
competitors, Hoechsi AG and 
BASF AG, Bayer has reorgan- 
ized to concentrate on its most 
important businesses, while 
shifting its focus abroad. 

Shares in the company rose 
1.45 DM, to 70 DM. 

Analysts pointed out that the 
rise in Bayer stock on Tuesday 
underperformed the market as a 
whole. The DAX index rose 
2.23 percent, to 4169.62. 

Wolfgang Sawazki, analyst 
at WesiLB in Duesseldorf, was 
surprised at a drop in earnings 
at the health-care/ pharmaceut- 
icals division. Health-care sales 
climbed 9.9 percent to 6.455 
billion DM in the six month 
period, but operating profit fell 
to 766 million DM from 1.040 
billion DM, entting the return 
on sales to 11.9 percent from 
17.7 percent in die same period 
of 1996. (Bloomberg, AFX) 


Adapt to Deficit Reality, OECD Tells Bonn 


By Carl Gewirtz 

Intermtioiul Herald Tribune 


PARIS Germany was advised 
Tuesday to stop playing games with 
numbers, accept the fact that its 
budget deficit this year will over- 
shoot the Maastricht criteria for 
European monetary union, and °et 
on with fundamental reforms aimed 
at creating “astructurally sound and 
economically adaptive economy * ' 

Thp anninl .L o 


pany tax system, to make cuts in 
public spending, particularly in 
health care, public pensions and in- 
dustrial subsidies, and to eliminate 
excessive red tape to foster a climate 
of entrpreneuriai enterprise. 

The major policy decisions to be 
made on taxes and welfare “could 
set the stage for a return to a more 
optimisLic view of the future,” the 
report said. 


It forecast growth this year of 
2.25 percent followed by 2.75 per- 
cent next year, highly dependent on 
export growth with httle impact on 
reducing unemployment 
“A seif-sustainiflg strengthening 
of the growth process will depend 
on stronger investment and a re- 
covery of private consumption,” it 
said. 

Economics Minister Guenter 


~ SEB Official Sees EMU Threshold at 3.5 % 

mzation for Economic Cooperation 

Tnrl c . 


AFX News 


and Development, forecast r that the 

^ ^ - year wou W be TOKYO — Germany and France would be able to participai 
product percentofgrossdomes ^ c single currency if their 1997 budget deficits did not exceed 35 pr 


This is “well within the range of 
normal statistical revision” and 
therefore should be regarded as 
meeting the Maastricht criteria of 3 
percent, the report stated. 

The Maastricht critera, it added, 
“should serve only as milestones on 
the way to a sound medium-term 
fiscal position” and short-term ex- 
pedients just to meet the nominal 
target should be resisted if these run 
contrary to longer-term structural 
reforms. 

Hie OECD said there was a 
“pressing need” to simplify per- 
sonal taxes and overhaul the com- 


.te in the 
percent of 

gross domestic product and were'seen to be narrowing, a senior European 
Commission official told the Nihon Keizai Shimbun. 

The unnamed official, identified as a top-ranking bureaucrat responsible 
for monetary union affairs, said that 10 or 1 1 countries were expected to 
join the single currency on schedule on Jan. 1, 1999. 

Bui there was about a * ‘one in 1 0 chance' ' of delay in the starting date for 
the euro, the official said 

The commission would be flexible on participation by France and 
Germany because the Maastricht treaty did stipulate that it would take into 
account “all related factors” toward the single currency, not just the ratio 
of budget deficit to GDP, the official said. 

The official added that France's budget could be expected to shrink from 
1998 to below 3.0 percent, the general threshold to be achieved by an 
applicant by the end of calendar 1 997, and that the 35 percent ceiling for 
EMU membership might be broken if an economic slowdown in Germany 
triggered higher unemployment spending, while revision of social welfare 
policies in France could also lead to a larger deficit 


Strong Dollar and Cost Cuts 
Raise OMV Profit and Stock 


Con^Urd by OwSuff Front Dispartoi 

VIENNA — OMV AG shares 
soared 6 percent Tuesday after the 
energy and chemicals company re- 
ported that net profit rose 9 percent in 
the first half as the strong dollar and 
increased prices added to the effect 
of earlier cost-cutting measures. 

The largest company in Austria 
said profit rose to 1.35 billion 
schillings ($105.5 million) over the 
first half of the nrevioos year. 

The stock finished up 106.30 
schillings at 1.761.10. 

“It was not just cost-cutting,” 
said Wolfgang Pinner of Investment- 
bank Austria AG, “and we see that 
as very positive for the shares.” 

“With a strong commitment to 
cost cutting and profitable volume 
growth,” Lehman Brothers said. 
"OMV will be well positioned to 
outperform.” 

Chief Executive Richard Schenz 
said OMV had reaped the benefits of 


a restructuring program begun last 
year. Higher prices for gasoline and 
petrochemicals, its top two product 
groups, helped sales rise 21 percent 
to 45.3 billion schillings, be said. 

But Mr. Schenz said the second 
half would not be as strong as the 
first “Though we can't multiply 
our results by two, we expect foil- 
year revenue to increase slightly 
from that of 1996.” he said. 

He noted that earnings would have 
been higher if not for the govern- 
ment's austerity budget, which sus- 
pended some corporate tax benefits 
and raised some consumers' energy 
prices. Austria has been forced to 
raise income so if can reduce its 
deficit to within 3 percent of gross 
national product to meet the criteria 
for the single European currency. 

OMV plans to cat its work force 
by about 600 by the end of the year 
at a foil-year cost of about 2.7 billion 
schillings. ( Bloomberg , Reuters) 


Angolan Oil Lifts Elf 


ComptUd by Ow Stiff From Daptachrs 

PARIS — Elf Aquitaine SA 
shares surged 5.8 percent Tues- 
day after France's biggest oil 
company discovered a major oil 
field off the coast of Angola. 

Fabien Ghez, spokesman for 
Elf, said the new Dalia field was 
“ at least as big” as the nearby 
Girassol field the company dis- 
covered last year. Dalia contained 
at least 750 million barrels of re- 
coverable crude oil, he said. 

“Even at low estimates, with 
back-of-an-envelope calculations, 
we think the oil in Dalia is worth 
30 francs a share,’ ' said Alan Mar- 
shall. oil analyst at Robert Flem- 
ing Securities in London. 

Mr. Gbez said that the company 
would start to drill a second well 
□ext week in the Dalia field to 
confirm the results of the first test, 
conducted last week. 

The Dalia oil field was found at 
a depth of 1 360 meters (4462 feet) 
yards and is situated only 3 ki- 


lometers (1.9 miles) from Gir- 
assol, which is in the same block 
off the Angolan coast 

“It is perfectly possible that 
this is the biggest offshore Af- 
rican find yet” said Bernard As- 
tier. Elf s assistant director gen- 
eral for exploration in Angola. 

Stock in Elf closed at 685 
francs ($1 1 1). up 38 francs. 

■ Texaco Looks at Caspian 

Texaco Inc. has taken a 20 per- 
cent stake in a giant oilfield in 
Kazakstan, containing an estimat- 
ed 2 billion barrels, being de- 
veloped by Italy's ENI SpA and 
Britain's BG PLC, Bloomberg 
News reported from White Plains, 
New York. 

Texaco's participation would 
help BG and ENTs Agip oil unit 
as they look for ways to nmd what 
is likely to be a multibillion dollar 
development The project is one 
of a number near the Caspian 
Sea. (Bloomberg, Rearers) 


Rexrodt said the OECD report con- 
firmed that the government’s eco- 
nomic policies were on the right 
track, Bloomberg News reported. 

■ Rates Are Kept Steady 

The Bundesbank kept its main 
money-market rate at 3.0 percent 
Tuesday and killed off talk of an 
interest rate rise by announcing a 
sharp slowdown in M-3 money sup- 
ply growth, a key policy guide. Reu- 
ters reported from Frankfurt 

As expected, the bank set its auc- 
tion for securities repurchase agree- 
ments. known as repos, at a fixed 3.0 
percent this week, the rate that has 
prevailed for foe past year. 

M-3 growth, seen by the Bundes 
bank as a reliable indicator of future 
inflation, slowed to an annualized 
rate of 5.7 percent in July from 6.4 
percent in June. The rate was well 
below economists' forecasts, which 
Had averaged about 6.3 percent. 

* ‘This is very nice for foe Bundes- 
bank because it means they can hold 
off on an interest rate move for the 
time being,” said Gerhard Grebe, 
economist at Bank Julius Baer. 

Gram Kirkpatrick, an economist 
at the OECD, said that despite the 
recent weakening of foe Deutsche 
mark. “We don’t see any need to 
tighten monetary policy." 


Investor’s Europe 


3250 •' - 


FtarnkfUrt 

; 4500 ^-rS200 - 

• 4200 - A: ? 50W 

3900 -J J 4800 - 

3600 — yJr - ‘ 

3300 tyr ? 4400 

; 3000-m - A -y — j j A -h 4200 A M jj- A v 2500 M A|y j j j~ A vj 

1997 : 1997 1997 




.ax..::* 


* sA-y- vtvZ.V^OC-. yWffWft 




l V «A.<VfV 




mm 






Source: Telekurs 



Imcmauoiial HmH Tribune 


Very briefly: 


• British Telecommunications PLC said a review of its 
$22.3 billion acquisition of MCI Communications Corp. 
would be completed by the end of August and that the terms of 
the deal had not been changed. But some analysts said BT was 
likely to tighten cost and management control at MCI after the 
American company warned it would post a loss of $800 
million in this financial year. 

• Bezeq Ltd, Israel's state-owned telephone company, 
adopted a reorganization plan, which includes firing 1 ,800, or 
20 percent, of ns workers. 

• Trygg-Hansa AB, Sweden's second- largest insurer, said 
first-half net rose 63 percent, to 2.01 billion kronor ($2523 
million), as revenue from premiums and fund-management 
activities increased. 

• International Service System A/S of Denmark, foe world’s 
largest cleaning company, posted a profit of 83 million kroner 
($1 1.9 million) in the first naif, compared with a loss of 2.029 
billion kroner in the first half of 1996, when earnings were 
affected by a one-time charge for its U.S. unit 

• Kvaerner ASA, a British-Norwegian construction and ship- 
building company, said first-half profit rose 27 percent Co 605 
million kroner ($79.9 million), as it sold assets. 

• Jaguar, a British luxury carmaker owned by Ford Motor 
Co M presented plans to launch a smaller and cheaper model, 
code-named X400. which would have an annual production 
run of about 100,000 units, to compete with Bayerische 
Motor en Werke AG's 3-series cars. 

• Sobering AG of Germany and Christian Hansen Holding 
A/S of Denmark, have created a joint venture to sell allergy 
medication in Germany. 

■ Austrian Airlines AG, a state-controlled carrier, posted a 
first-half operating profit of 7.8 million schillings ($610,000) 
after a loss a year ago as it saved costs and formed alliances 
with U.S., Belgian and Swiss airlines. Bloomberg. AP. AFP 


WORLD STOCK MARKETS 


High Law Close Pm. 


* 


Tuesday, Aug. 19 

Prices In local currencies. 
Tetekurs 

High Low Orae Pnv. 


OeulTetetan 39.25 
DrcsdnerBank BDJO 
Fresenbo 3S6 3S4 354 

FiweniosMed 157 JO 15150 157.30 154* 
Fried. Kiupp 377 JO 3745D 37630 372 


Amsterdam 


AEXta*K»t745 
P redoes: 91748 


ABH-AMK0 
Aegoi 
AltoU 
Atao Nobel 
Boon Co. 

Bats Wesson 

CSM era 

DorttochePe* 

OSM 

Ebmto 

ForisAmev 

Gelrenics 

G-Broecw 

Effir 

Hoogoroiisam 
Hum Douglas 
I KG Group 
Ki-M„ 
KNPBT 
KPN „ 
NedOo-rdGp 
Nottaa 
OceGrfaten 
Phfflps Elec 


IHOg 

Robeco 
Rmtomco 
RoBnco 
Rorwrto 
top* Du** 
t/piOeuercvo 
Vender tall 
VNU „ 
vroBersKIcw 


49 JO 
154 
59 
331.5) 
14450 
40-80 
103 JO 
112 
20880 
32* 
89 80 
7040 
6050 
10850 
337 
12850 
9440 
99 JO 
7470 

4.90 
79 JO 
66J0 

35850 

261 

IS 

12050 

8870 

198 
6100 

199 

117.90 

111.90 
451 
114 

45 JO 
364 


4850 
14750 
5750 
m so 
140 
40 

102.10 
10080 
20150 
3170 
8750 
4850 
5850 
106 
32950 
12450 
9370 
97 
7470 
48 
77.70 
65 
35310 
25250 
149 AD 
113 
86 
196 
6170 
19750 
11750 
108 
444 
10850 
4370 
263 


4920 47 

151 144.70 
5880 55-90 
330 31850 
14150 135 

4840 3970 

103.90 101-60 
110.70 105.90 
20570 197.10 

3150 31J0 
8890 86.10 
69 JO 68 
60.40 59 

107 104 

337 31550 
12750 122.10 
9450 93 

9830 9450 
76 7X30 
4970 47-40 
797a 76 

6670 63.80 
35750 34450 
257 JO 24750 

149.90 1S1J0 

116.40 110 

8650 84 

197 19* 

6270 61 JO 
19BJ0 196.90 
11770 117 

110 JO 10570 
450-90 442 

110J0 110 

44 43. 31 
26470 26150 


Bangkok 

Adv Info Stic 
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KrungThoi Bk 
PTT&JrfW 
Siam Ceram IF 

Stain Com BK F 

Teteattncwa 
lltd Comm 


210 

220 

2775 

390 

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2550 2850 
374 

HO 620 

107 J1S n A 

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Brussels 

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BBL 

CBR 

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DettnueUon 

Ele cttuOer 
Etedrofino 
Fate AG 
Geroert 
GBL 

GenBanque 
Krafieftank 
Petofina 
Powafifl 
Howie Bane 

sScGnSSg 

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i DCS 


Copenhagen 


• 

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VI 25 

;*t» 

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inornate. 

7.10 

7JJ3 

7.06 



3925 

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59-25 

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21835 

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032 

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77 

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345 

470 

140 

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HEW 

Hochfiet 

Hoectal 

tCotstodl 

LulMwnso 

MAN 

Mamemann 


11350 110 11150 1» 

15250 148 15150 146 

10150 10050 101 10840 

450 450 450 450 

9050 89 9050 8750 

74 7340 7370 72J0 
697 685 685 667^ 

9950 99 99 JO 99 

1335 1320 1333 13M 

3575 3540 3SJ5 3440 
533 52950 52950 523 

824 812 81750 814 


Kuala Lumpur 


High Low Close Prev. 


Sj05 
113 
819 
160 
446 

275 

1955 1955 19.41 18W 


High Law dose Pnv. 


High Low Ctaa Free. 


Mefcflgeseftsdiaft41AD 4895 4895 »J0 
Mrfni 9640 94B0 9540 92.15 

MonOiRuecfcft 612 399 60150 61050 

562 556 561 .541 

8540 8450 8470 8430 
427 JO 41850 427 42550 

19970 198 199 JO 197 

239 Z3B 238 240 

12865 11870 12820 11435 
1590 1578 1590 1578 

867 863 863 855 

43950 43250 43850 4X1 SO 
1(060 10270 102.80 1D0J0 
572 572 572 580 

767 7S6 76620 755 

1380 1345 1367 1285 


Pretesog 
RWE 
SAP pH 
Scftertng 

5GL Orton 
Stamens 
Springer <A*H 
Siwtaidter 


VW 


SET tartec 59844 
Pievimss: 604J4 

195 M 

714 220 

27 

390 
648 


Helsinki 

EnsaA 

HutriomoUl 

Korrira 

Ketlw 

NwrtoA 

MeftoB ^ 

Metao-S«1oB 

Neste 

NoMoA 

MmvYhtymoe 

Outokumpu A 

UPMKnwnene 

varaa 




* ^ 

225 2Z3 

S 4750 
75 72 

U20 22J0 

171 170 

50 4850 
143 139 JD 
456 44850 
187 185 

100 9450 
13550 134 

8350 81 


49 

224 

4750 

7250 

23 

170 

49 

13950 

454.90 

IBS 

9460 

13480 

81 


SO 

135 

108 


Hong Kong 

Anew) 

Btclm 


pmlocs; 432897 
863 83775 82850 87475 


875 
31 
1190 
90 JO 
2550 
4150 
47 JO 
46J0 
9.15 




Jt* 363 369-25 
321§ *7 71775 37)25 

W 37T 37125 J7A» 


BEL -28 

Pfntom; 237829 
1*75 1620 1*50 1640 

7*80 7460 7580 / jJO 

gg SS Bl S 

’S « ’ll 
g Ss S 
S ^8 gS 
SS So 

il B aa a 

!l S ’S S 

iSS s 'S ’S3 


6 r Prop* 
os) Asm 
oamorPxfflc 

OevrflKrno 
CXbrinKSoa 
OAioUoM 
CBlcPocmc 
DaoHenaBk 
FWPodBc 
HangLungDw 1470 

ffisssR q 

69 
1655 
29 J5 
1820 
488 
266 
7825 
25 


line 

HencleraonLd 
HK Chi no Gas 
HK Electric 
HKTefccomra 
Hopewell Hrigs 
HSBC HOte 

HotdiHonWi 

ISSJWo- *8 

OnentaiPtw 

peari Oriental 

SHK Props-. 

Shun To* H dte 

5moUwJCa 
Sth China Poa 
Swire PacA 
tthorf H099 
WhedMK 


180 

128 

» 

470 

7-80 

725 

6750 

31^ 

17.70 


S Mg j* 


Jakarta 

Astra loti 
BkWIInrion 

fflstfegoro 

(MvigGann 

Iffltocemera 

Inriofaod 

Sm^oernaHM 

Semen GreSj*. 

Tetaknn*ii# 8 Si 


BGfiaft 
CarishergB 

CodanFare 

Johannesburg 

M1912B 295000 ^ „ •» nm 

FLSIndB 
KobLiiHtaMM 
NwNonttftB 
SqAusBcrB 
raeDawpkB 
Jwj Banco 

Undemnork A 


m 2*1270 "^5 

s.« g g 
w | 2 


Frankfurt 

AMBB 050 

MaSta 77SJ0 

Shoo 

omm iso» 

Bt Serial 

BASF 65-80 

iSmtarf 87® 

Bemad 

BMW , 

CKADCotanm 

Degas so 


'S % 'I 

« a 

67-90 SS 

sag b 

s y t 

4 31 1 

'US W 1W3D 


BAs 

Cari 

analoAra-COfp 

AngtoArtGoM 

AnqtaAoi 

AVMIH 

6®taw 

CG.5mffli 

DeBcen 

Dnefontdn 

FstNolT® 

Gencor 

Ira^atHrite 

mgweC«a 

Iscor 

tawiot^w* 

Liberty Hdgs 

ijSSffii 

Minwco 

HompoA 

Meric* 

RetnhmndiGp 

nfenemonf 

Pust Ftattium 


3130 32 32 3230 

361 260 261 260 

252 250 MOJO 251 

264 260 264 *7 

S 3 ^ 58 

151 14925 15025 14725 
35.10 3475 35 34S 

3*40 38 38 38 

1050 1040 1055 1050 
9*50 95 9525 9550 

62 6125 62 612S 

2425 2410 2425 2405 
104 3 102 J 

66 iS 6525 &S 
3«3 361 36250 360 

13875 13825 13875 137 7S 
17.75 1740 17-» 1725 
9875 98 9850 9730 

1920 19 19.15 18JS 

9S2S M W » 
4615 45.75 46 4« 

66 6425 6475 6S 
82 8125 8125 8Z 


AMA6B Hdgs 
Genltog 
AAal Bankfaq 
Mol tall Sup F 
PetmnosGas 
Proton 
PubBcBk 
Renona 
Resorts Wold 
Rottmaa PM 

Tenraa 

Utd&gmeen 

YTL 


4850 
222 
47 JD 
72J0 

170 
4880 
140 
446 
18550 
9450 
133J0 
81 JO 


Haag Sen* 1547724 

Prestons 1*0948* 

845 83 8.95 

3020 3050 31 JO 
1250 J3J5 If 
8450 8725 92 

2450 2465 26 

3920 40J0 4 

4540 45.90 ^.90 
43 43 47.10 

ass 9.10 920 

1430 1445 1465 

100 10150 10450 
855 865 9JS 

6425 6625 7025 
15.30 1405 1460 
28-75 3950 30.10 
1765 17 JO 1850 
463 453 495 

255 262 272 

74 7525 8025 
2420 2435 2530 
21.15 7140 2145 

20.10 2040 mo 

4950 5050 5125 
265 177 215 

120 124 1J0 

9175 9425 9625 
450 465 4J0 

750 765 8 

7 7J5 720 

6150 6525 6825 
30JO 3040 31^ 
17 JO 1755 1725 


CoMrale tariet 99053 
59964 

7150 64S0 6500 7850 
1350 1175 1225 1W 
1275 IMO 1175 1M0 
9100 8575 8650 8TO 

3775 £2 
3850 3700 3700 3850 

7450 7175 7250 7W0 

7900 7OT 7450 7T00 

3450 XSC 2200 - 2025 
3600 3500 3500 3625 


11.90 

1040 

22.10 

SJ0 

4J0 

8-05 

342 

132 

730 

24J0 

7JS 

865 

940 

li30 

430 


TWO 

1030 

2120 

520 

9.15 

7J0 

332 

126 

7.10 
2420 

765 

8J0 

9.10 
1490 

645 


11.90 1120 
1030 1020 

21.90 21 JO 

525 525 

920 925 

7 JO 725 
334 332 

130 326 

7.15 7.15 

2420 2470 
7J5 720 

B3Q 820 
925 925 

■ 1520 IS 
455 660 


London 

AbbwNatl 

ASedDoncecq 

AdsDot Vtater 


FT-SEriMh 4*1420 
PrevtosE 483406 


Assoc Br 
BAA 
Barclays 
Ban 
BAHlwt 
Bank Scctomd 
BtoeCbrie 
BOC Group 
Baris 
BPS tad 
BrBAemsp 
BrffAnumys 
BG 

Bril Land 
Brill 


819 

481 

728 

431 

1-50 

528 

522 

1405 

850 

520 

426 

434 

11.15 

8J4 

151 

1460 

430 

157 

5.95 

862 


BritStael 1J0 

BrtfTWecora 427 

BTR 244 

BurmahCostni 1175 

BurtarGp 129 

CatrieWhetess 567 

CwtocrrSdTW 402 

CorttonCanro 523 

CoraaH Union 732 

Compas5Gp 6J5 

Courtmrids 1* 

Dtans 4te 

Efcdroasnponnris 492 
EMI Group 5-6? 

ISSSSS “i 

Fora Cntontol t27 

GeBlAcddeiri 9J8 

GEC 321 

GKN 1341 

GksoWelloanie 1337 

GronodaGp 807 

Grand MS 

GRE 

GreenobGp 
Guinness 

“ 5 893 

7115 

MU7 
199 
7J6 
156 
9JS 
222 
460 
7.42 
202 
5J6 
482 
1365 
264 
527 
803 
7J5 
136 
115 

442 

7J1 

Pilttagton >-» 

PowerGen 722 

PramtarFane* 5.4 
Prudadtal 
IWtrackGp 
(tank Group 
RedJBCotai 

&> 

RertoUtaBBl 
RBrieisHdBs 


5.96 

2J8 

492 

523 


UU9 

Hoy? 

HSkHldgs 

10 

tapi Tobacco 


Lend Sec 

Lasnto 

UgdGtWGrp 

UoydsTSBGp 

LucnsVBrtr 

Merits Spencer 

MEPC 

Merowyteet 

MofierolGrid 

lion Power 

KotWed 

HaS 

NawWiUraon 
Oompe 
PM 
Pew?* 


RTZreg 
BMC Group 
Roftfiraar , 
RoialBfcScol 
KotoliSim AI 
Sdewy 
5otasbWT 
Sdinden 
ScofMewa^fe 
Scot Power 
Seeuricor 
Sewm Trert 
5nef TrorapR 
Side 

SraflhWepftew 

SroritiKIne 

SaitasM 

SBwnEtac 

5togeandi 

Stcnd □enter 

Taeiti* 

Tesco 

TToraes Water 

31 Group 

TIGiW 

Tanktas 

Urifceer 

Utd Assurance 

irtdNews 


LOS 

7.93 

VQ. 

965 

3 

565 

118 

445 

192 

10.19 
1024 
250 
605 
5J5 
323 
465 

1870 
7.70 
424 

193 
857 
436 
1165 
179 

11.13 

845 

460 

7.0S 

11.13 

4(9 

4.19 

B 

489 

6 

031 

1871 
440 
7 17 


7.93 

467 

765 

6.18 

167 

497 

5-70 

1325 

832 

W 

412 

424 
1024 

7.93 
346 
1133 
408 
261 
529 
838 
435 
123 
325 
220 

1063 

127 

563 

525 
488 

724 
622 
33S 

488 

563 

626 

628 

125 

923 

323 

12J6 

1101 

7.97 

522 

222 

426 

522 

435 

527 

7066 

10 

3.94 
720 
260 
923 

267 
443 
7.11 

1.96 
587 

425 
1341 

268 
5.15 
728 
764 
328 
112 
433 
7J7 
166 
723 
543 
593 
7J5 
333 
960 
2.90 
547 
113 
631 
225 
920 
1065 
244 

5.96 

526 

176 
438 
i860 
768 
415 
229 
846 
417 
11.18 

177 
1091 
830 
453 
4.93 

9.96 
414 
404 

725 
626 
588 
327 
17.78 
4-50 
7-0B 


806 7.97 

423 469 

768 723 

623 622 

149 149 

5.05 494 

527 524 
1292 1323 

BJ9 8J9 
All AM 
420 410 

427 423 

11.05 1129 

7.96 7.92 

360 346 

1453 1449 
620 6.13 

263 263 

5.91 5.90 

848 8J8 

437 437 

127 125 

3J9 322 

223 221 

1068 1064 

120 127 

560 569 

5.96 403 

493 489 

727 723 

625 6-30 

139 327 

425 410 

492 490 

658 548 

428 426 

491 622 

126 125 

929 921 

328 326 

1263 1244 
1228 1126 
8-06 802 

524 527 

225 223 

491 490 

525 528 

442 434 

API 529 

20.72 2022 
10.09 929 

195 193 

725 7.18 

260 154 
927 928 

248 249 

444 440 

723 7.11 

1.99 103 
£93- 526 

476 480 

1147 1134 

263 19) 
525 A19 

7.99 72? 

7 23 767 
132 131 
114 112 
442 438 

742 715 

L47 147 

726 721 

543 548 

5.98 194 

723 7 76 
135 136 
962 945 
199 2.93 
567 544 

11* 113 

440 626 

186 188 

1002 1013 
1073 1045 
146 144 

5.99 5.97 

528 526 

181 177 

440 441 

1868 1050 
7M 76? 
422 417 

22? 192 

86S 840 

420 417 

1127 1140 
f.79 129 

1129 1087 
B20 8J8 

454 453 

70S 6.90 

1036 927 
478 476 
412 405 

790 7.92 

486 483 

192 5.94 

128 128 

17.98 17.78 
450 4S0 

7.14 7M 


Madrid 


BMsatadra:585J> 


PrataMB: 57L82 


267* 

76450 

76550 

26350 

ACESA 

1835 

1/85 

1815 

1775 

Aquas Boreekm 

S670 

5540 

56* 

5500 

Araentarta 

BBV 

7990 

4110 

7710 

4050 

7950 

4090 

7720 

4015 


1410 

13W 

14* 

13* 


7810 

75 ill 

7810 

7400 


5670 

56* 

56/0 

56* 


340* 

334* 

340* 

332* 


4395 

4265 

4395 

4220 

CEPSA 

4655 

4590 

46* 

46* 


3315 

3165 

3315 

3210 


8440 

32* 

8260 

3150 

84* 

31* 

8250 

3125 

FECSA 

1255 

1235 

1245 

1220 


6820 

66/0. 

6690 

66* 


1790 

1/65 

1/* 

1765 


2930 

2850 

2895 

28* 

Repsoi 

61* 

6050 

6160 

6020 


1395 

7365 

1384 

1370 



7780 

7860 

7650 


4070 

4025 

4060 

4010 


1225 

1705 

1220 

1*5 

VUenc Cement 

2760 

2/30 

2760 

2715 


To Our Readers 

The Manila stock market 
was closed Tuesday due to a 
tropical storm. 


Mexico 

AK0A 
Banged B 
Centex CPO 
C3raC 

Emp Modern 

GpoQssoAl 

GjroFBcorw 

Geo Fin tabu rsa 

K*bD oAMex 

TeterisoCPO 

TdMexL 


6660 

2400 

47.90 

1462 

4160 

5820 

175 

0560 

3720 

125J0 

2045 


Milan 

Afleanzo Assic 

Bca Conan ItaJ 

Ben FUeurom 

Bco di Romo 

Benetton 

CretBoNoSano 

BSsal 

ENI 

Fiat 

Generali Assic 
IMI 

m 

Itolgoi 

Medowi 

Mefioboncn 

Mariedson 

OWeffi 

Pomelo) 

PMS 

RAS 

Kota Banco 
SPpataTcrtw 
Telecom tala 
TIM 


Montreal 

Bee Mob Cm 

CdnToeA 

CdflUBA 

CTRlrtSK 

GroMdro 

Gt-WeslLBeco 

(moseo 

tavestonGrp 

LobtawCos , 

Nos Bk Condo 

PowsrCop 

Power Ftal 

OuebecorB 

RsgenCennB 

RbroJBkCdfl 


50*4 SOU 

2620 S'* 

38.80 XV) 
4140 43** 

1U0 1815 
33 Vj 3110 
41.70 41 

35V, 3420 
2045 20.10 
1720 1794 
3UP 37JS 

3760 3640 
27 2620 
1045 1045 
63 62 


35876) 
PWteBSi 353720 

50** 50*9 
2665 m 
3880 3895 
£S+ 43*4 
10*6 " 
3145 
41 


181* 

33 

41*6 


35*9 31*5 
2040 20 

1765 17)9 
38** 3720 
17 36 

.7625 26,90 
1045 W** 

6260 6265 


Oslo 

Akff A 

BenjesenDjfA 

ChrtsfcawBk 
DennonimBk 
EBem 
HohAflto A 
KvoemvAso 
Horst Hydro 
NonkeSkog A 
Nrajmed A 
Orkla Asa A 
PtBraGaoSK 
SaqgPfttnA 

SS nited 

TiWHOceonOfl 

5lonbrandAM. 


0BXtotec«841 
Prerioos : 60122 

134 129 130 133 

X8 206 W 204 

26J0 25.70 2580 2520 
3020 3040 30.40 3060 
145 13960 13960 
« 46 47 4591 

4J6 431 C8 

402 . 400 395 

288 788 286 

155 15850 153 

543 545 544 


468 

408 

291 

1S9 

551 

412 


407 


149 146 

m 724 


<17 

51 


410 400 

147 14660 
127 »2» 

417 417 617 

51 4920 


Paris 

Accor 

AGP 

AirUquide 

MaridAWIi 

Axn-UAP 

Bn nostro 

BtC 

BNP 

Carol Ptas 

CarraSour 

Cosmo 

CCF 

Cetetam 

CtoWlofiDtor 

CLF-Dexlo Fran 


CAC-40: 2934.14 
Prevtoas: 2876.13 

977 967 977 9SS 

225 2)820 224.90 2)B 

940 909 940 914 

824 *1? 823 SOS 

410 40520 410 404.10 

730 706 720 717 

498.90 489 49890 488 

282 774 261-80 270 

1032 1001 1030 1038 

4074 3946 4074 3929 
285 27810 28050 278 

318 31320 31570 31520 
677 464 476 M0 

950 924 950 922 

576 562 576 554 


‘S Credit Agricole 1287.10 1287.1 01 287.10 1265.10 

U7« C7J 071 oin 


BrinUm 581349 
H W I 4WUI 

6440 6550 64.10 
2220 23.40 23JJ0 
4125 4125 4125 
14.14 1462 14-20 
4240 4345 4345 
5740 sa20 5720 
140 349 560 

3420 3560 34.90 
3620 3720 3520 
17130 12520 12150 
2025 2025 2020 


925 9 12 929 910 

m 676 685 647 

832 811 832 812 

875 860 8J0 860 

7.10 625 7.10 725 

720 702 702 710 

388 377.10 384.90 38040 
863 840 859 844 

416.70 409.10 41490 41220 

Legrwd US 1US llfi 125 

LOreal 22*9 2233 2284 2230 

1474 1450 1469 1445 

366.90 35920 365 356.90 

448 4JB.rO 44720 436 

310 298 309 JO 300 

704 690 703 68* 

2630 2570 261 S 2615 
2221 2183 2207 2135 

164.90 158 164 157 

1685 Mil 16» 1610 

Rb-PautencA 24120 737 24140 23880 

404 590 - 602 588 

338-50 330J0 338-30 335 

1020 996 1008 1019 

592 571 590 SS7 

799 790 791 788 

2900 2872 2875 2862 

876 855 871 865 

1635 1610 1610 1525 

643 624 60 6)4 

730 706 730 705 

15240 149.50 152 15150 

610 593 603 585 

11460 11040 H4 110 
373 358-30 37220 35720 


Donocv 
Elf-Aqudotae 
ErirtaniaBS 
Eunxfisiw 
Ewitomnd 
Gen-Eaux 
Hows 
Imelnl 
Lafarw 
Legnind 
L' 

LVMH 
MJchefinB 
PnrtoasA 
Pernod RJand 
PmigeolQt 
PWt-Prirt 
Promodes 
Renaud 


Sonofi 
Schneider 

5EB 

SGS Thomson 
SteGenende 
Sodexho 
SJGobatn 
Suez (Oel 
Suez Lyon Earn 


T MB 
Uetaor 
Video 


CSF 


Sao Paulo 


SSSSTpST 

&IB 

NoubanaaPM 

UgMSerrtctos 


MIBTeJwelhwuamo 
Pmtaus; I412&M 

{4640 14450 14550 14370 
4500 4430 4470 4 395 

5640 5400 5415 S320 

1600 1545 1 570 1526 

56450 2fi000 26250 36100 
3415 3545 3405 3550 

BJ90 B160 8210 8180 
10200 10000 10200 9980 

36300 35950 36250 35800 

’MS 3 '& W 

77TO 7670 TO 74« 
11325 11155 11245 11150 
1115 1W 1108 1090 

4« 664 676 662 

3640 2605 2625 2608 

4690 4620 4685 461S 

U850 14JW 14850 MSB 
22000 21300 21750 213)0 
13450 13010 13175 13350 
30940 10600 10680 10740 
5870 5770 5035 5770 


l PM 

iLltt 

SUNactonat 

Souza Cnn 

TetahmPM 

Teknrig 

Teteil 

TetespPW 

Unibanco 
Usiminas PM 
CVRD PM 


1120 

78020 

5520 

8020 

16-50 

499.99 
65020 
50020 
42520 
29620 
19SJO 

3650 
10 JO 

140.99 
180.01 

154.99 
33420 

3820 

1140 

2640 


lojo iaw 

75720 76020 
52-50 53.99 
7620 7820 
1620 1620 
4K20 49120 
679.50 65000 
49320 49120 
41620 41620 
290.99 29120 
19220 19220 
3620 3620 
1045 1045 
13520 137-95 
17850 17920 
14420 14520 
32520 32920 
3640 3820 
1120 H45 
2520 2645 


1025 

77520 

S4JD 

7820 

14-50 


Se ™ 1 “■’TRKEISS 

Dacaai 93500 90000 WOO 93000 

7850 7500 7510 78S0 

21100 20500 2MOO 30900 
13200 12900 13000 13000 
34500 25800 35900 26100 
5570 5360 S400 5570 
44400 43100 46400 43000 
41500 59800 60000 41000 
47900 47200 47400 47800 
71400 70000 71000 71100 
SKHiafBank 9600 9400 9400 9550 
SK Telecom 490000 485000 487000 4*9500 


Singapore swan-mig 


Hyundai Eng. 
Kid Mo fan 
KorenSPvnr 
Korea EkIi Bk 
IGSamcM 
Pahang mnSf 
SrawungDMoy 


Asia Poc Brew 

CeiebasPnc 

CSyDwtts 

CfoeComooe 

wnrFfflBBt* 

DBS formal 

DBSLsM 

Fraser iKewe 

HKLaur 

Jord Malhesn" 

Jart Sfratoglc* 

KeppelA 

KeppdBceik 

KeppetFeb 

SSBiiSl 

OSIMMffirF 
PntawjrHdgs 
Seraboecng 
Stag Air toMgn 
SagUnd 
Sing Press F 
Stag Tedi hd 
SmTetecaRH 
TofleeBrai 

UtdtadustiU 
UMOScoBkF 
WingTalHdgs 
'.talUL (boats. 


5J0 

545 

150 

688 

4J0 

486 

1 1 JO 

tax 

M 

11J0 

1080 

11 

0,92 

087 

0J8 

17.10 

1670 

1680 

AM 

478 

AJ0 

9.10 

880 

885 

3LI8 

308 

1/6 

7j5 

660 

685 

402 

3.98 

482 

635 

6 

685 

330 

364 

170 

468 

466 

466 

AX 

408 

4M 

1180 

1240 

1250 

845 

8 

885 

635 

6.15 

615 

6JD 

660 

470 

12.10 

11-50 

11.90 

7.10 

7 

7.10 

2440 

24 

7420 

364 

150 

152 

261 

242 

244 

2J8 

2J6 

176 

IBS 

102 

1.03 

1360 

1110 

1340 

180 

164 

364 


540 

4.76 

1 740 
1120 
0.92 
1620 
4 26 
925 
3. IP 
425 
4 

620 

3- 58 
664 

4:12 
1120 
B 20 
6J5 

4- 50 
1140 
725 

23 

154 

241 

225 

125 

1310 

326 


50 


Stockholm 

rTWMKWyi 

AGAB 11DJ0 10920 11QJD 109J0 

ABBA 12Z50 118 I222D 117 

AHiDaem 250 240 250 23920 

ASreA 13620 T 32.50 13320 1SJ0 

AflasCapcoA 25920 25320 259 250 

fuat*. 309 292 30720 2B720 


ElectratacB 
Ericsson B 
H ernes B 
Incentive A 
Investor B 
MoOoB 
Nonfiwnfcm 

PtKTTTtVptob!} 

Sandri B 
Santa B 
SCAB 

S-EBenkenA 
StamBaFors 
SkanslaB 
SKf B 

SpartwnkenA 

sfemA 

SvHarxSesA 

VkriwB 


610 

35720 

322 

738 

413 

295 

257 

280 

254 

277,50 

188 

87 

332 

334 

222 

182 

140 

254 

222 


600 

349 

310 

715 

410 

2B4 

252 

274 

248 
223 
1*4 

8520 

31B 

329 

218 

174 

13650 

249 
215 


405 400 

356 34750 
322 301 

724 732 

412 40750 
28850 289 

25350 252 

277 77550 
25150 248 

227 222 

188 18650 
*7 85 

332 315 

333 331 

210 217 

183 173 

13950 134 

252 24750 
21750 21850 


62700 

494-00 

41550 

29400 

19400 

36J0 

1050 

139* 

178* 

14800 

328* 

3640 

1150 

36* 


Sydney 

AlOnteteK 242080 
Piwtar 241MB 

Amcor 

ANZBklng 

U7 

1015 

8-21 

9.93 

8-71 

9.98 

523 

9.92 

BHP 

l/JS 

178/ 

17.13 

17.11 


380 

3JS 

387 

383 


2840 

2/J5 

27.90 

2/./U 

CBA 

16.11 

15J0 

1581 

1584 

CC Amain 

15J0 

1468 

15.10 

I4J1 

CmerMyw 

649 

6JS 

640 

463 


669 

640 

640 

660 

CSR 

5.10 

4.9/ 

4.97 

5.10 


263 

2-58 

269 

261 


1 W 

1.97 

1.99 

15/ 

ICI Austrafia 

1105 

1280 

1280 

1285 


29.75 

29 JS 

29-30 

294b 

MIMHdra . 

1.72 

19.12 

147 

18.95 

168 

18.97 

18.96 

Nal Mutual Hda 

2.11 

209 

2.10 

288 


5.96 

58/ 

5.95 

5.92 

Podfle Duntoo 

360 

364 

368 

158 


4.90 

4* 

485 

484 

Pub Broadcast 

501 

*1.11 

7.90 

70J0 

7.93 

2081 

7.93 

20.98 

St George Bank 

547 

8J2 

8.34 

8-29 

WMC 

7J6. 

7.15 

7.19 


WestpacBJJng 

Waa&dePet 

429 

1105 

012 

10.90 

ai2 

1187 

8JI 

1088 

Mutarfte 

418 

485 

405 

410 

Taipei 

Stock 

Motet tax 971245 
PrertoOK 978*67 

Cottar Ufa ins 

MS 

145 

145 

14560 


116 

113 

m 

,1460 


87 

79 

8160 

7860 


126 

1276U 

124 

12160 

China Steel 

31.50 

30 JU 

31.10 

31JU 


116 

11360 

11460 



63 

67 

6260 

6260 


170 

>1760 

II7JD 

11/60 

Inti Carom Bk 

56.50 

54 

55 

56 


73 

7160 

72 

72 


101 

98 

9860 

9«6D 


157 

152 

152 

152 


4660 

131 

4560 

177 

127 

127 

UMWOrtdCNn 

6460 

63 

6360 

6360 


Tokyo 

Ajinomoto , 
a hlippon hr 
Naum 
AsoN Bank 
Asab Chon 

Asahi Glass 

Bk rofcyoMifw 

BKYokonorwi 

Bridgestoce 

Canon 

OtubuElec 

OiuaokuEiK 

OoiJfipoPtirt 

Dota 

D®-Khitoig 

□Hum Bank 
Data House 
Dota Sec 
DOI 
Demo 

East Japan Rr 

Ffeai 

Fan* 

Full Bonk 

F$PMo 

Fujitsu 

HochQuniBk 

Hitachi 

Hondo Motor 

1BJ 

(HI 

Itochu 

Bo-Yobado 

JAL 

Jrqun Tobacco 
JtBCD 
Korina 
Kami Elec 
Kao 

Kawasaki Hvy 

Korn Sled 

KjriiNgnRr 

HrinBfewrr 

KebeSted 

Komatsu 

Kabata 

Kyocera 

KnolwEJec 

LTCB 

Marubeni 

Mmi 

Matsu Conn 

MrtHiEtactad 

MotwSeclM 

MdsubUri 

MitsubsMCb 

MteotehiEl 

MitsuiMrtEsi 

Mitsubishi Hw 

AMabfaM MS 

MrhutasMTr 

AMun 


NBkei 225:10941* 
PieviHS: 19041.10 


1150 

11* 

1140 

mo 

705 

697 

703 

703 

34* 

3350 

33* 

33* 

B65 

854 

8* 

856 

604 

597 

600 

595 

988 

973 

979 

977 

2340 

23* 

2310 

23* 

515 

502 

504 

511 

2830 

2760 

Z77C 

28* 

3720 

3560 

35* 

37* 

2040 

2020 

2030 

20* 

1950 

1940 

19* 

1950 

2760 

2710 

2720 

27* 

860 

851 

B57 

850 

1510 

14* 

IS* 

1470 

661 

619 

631 

613 

13* 

1350 

13* 

1370 

797 

764 

775 

792 

7SS0O 

701* 

7040a 

70*0 

2890 

2780 

2830 

28* 

5460a 

S390O 

540* 

5500a 

2560 

2520 

25* 

74* 

5050 

eno 

49* 

49* 

1630 

1570 

1570 

1590 

4940 

4770 

4830 

J SO 

1680 

1*0 

1630 

1670 

1160 

1140 

1140 

11* 

1240 

12* 

1210 

12* 

38* 

3610 

36* 

3740 

1770 

1720 

1720 

17* 

380 

35S 

3* 

387 

510 

490 

497 

5* 

6860 

6740 

67* 

67* 

483 

471 

476 

479 

104* 

9750a 

996* 

9750a 

3370 

3270 

3280 

3370 

6I« 

605 

613 

601 

72* 

2190 

2200 

21* 

17* 

1750 

17* 

1740 

472 

458 

470 

475 

314 

302 

309 

31 3 

692 

685 

689 

684 

M2 

947 

956 

952 

179 

175 

177 

179 

818 

786 

799 

883 

491 

483 

488 

484 

9150 

8830 

8830 

9070 

I960 

JP3D 

1930 

1940 

607 

587 

596 

577 

443 

430 

4* 

449 

1910 

18* 

19* 

1910 

4760 

46* 

46* 

4710 

23* 

2320 

23* 

2370 

1390 

J 360 

1370 

1370 

1290 

1250 

1270 

12* 

317 

306 

314 

305 

590 

575 

SBO 

SU 

1750 

1690 

1720 

17* 

805 

79B 

803 

799 

734 

725 

731 

705 

1810 

17* 

17* 

■no 

1090 

1050 

1070 

1060 


The Trib Index 

Prices as o 1 3:00 PM Now Yam time. 

Jan. 1. 1932= 100 

Lever 

Orange 

%ctrange 

year to data 

World Index 

173 44 

+1.40 

+0.81 

♦1629 

Regional Indexes 





Asta/Padbc 

127.55 

•1.86 

-1.44 

+324 

Europe 

183.15 

+3.42 

+1.90 

+13.62 

N. America 

204.09 

+3.72 

+1-86 

+26.05 

S. America 

163.53 

+2.61 

+1.62 

+42.91 

Induatrta) Intkuas 





Capital goods 

226.10 

+4.56 

+2-06 

+3228 

Consumer goods 

188.95 

+3.34 

+1-80 

+17.05 

Energy 

195.14 

+3-43 

+1.79 

+1431 

Foranoe 

132.08 

+0.30 

+0.23 

+13.41 

Miscellaneous 

184.67 

-1.74 

-0.93 

+14.15 

Raw Materials 

186-25 

+2.73 

+1.49 

+620 

Service 

162.09 

+1.19 

+0.74 

+18.04 

memos 

161.24 

+0.13 

♦0.08 

+1239 

The International Harold Tidtune World Stock Indax C tracks the U S. daBar vatuos d 


trooNal tsavadabla by wrona la The Tilt) lndax.1Bl Avenue CnadasdeGaAe. 

82521 NnutUy Cadax. Prance. 


CompBad by Bloomberg News, j 

High Low 

Close Prev. 


High Low 

dose Prev- 


MBswFodnsn 
Mitsui Trust 
MurafaMfg 

NEC 

NUuSec 
Nhon 
Nbitendo 
J^pEnress 
teppon Ol 
Nippon Sted 
Nissan Motor 
NICK 

NomaroS* 

NTT 

Nnocfc 

OF Paper 

Osaka Gas 

Ricoh 

Rohm 

SatowBk 

Sontafo 

SanM Bonk 

Sanyo Elec 

Secaai 

SetouRwy 

SddsU Qkhi 

Sekbul House 

Seven-Eleven 

Sharp 

ShfliakuElPwr 

Shimizu 

Shin-etsuCJi 

Stosekto 

SMzuokaBk 

SoMmnfc 

5ony 

Sunrttonia 
Sumitomo 8i 
SumflChem 
SumBoreD Elec 

Smml Metal 

Sunil Trust 
TalsttoPhm 
Take* Orem 
TDK 

Tchoiur El Pwr 
Tokni Bark 
lotto Mori* 
Tokyo El Pwr 
Tokyo Etectom 
Tokyo Gcs 
TokyuCarp. 

Tcnai 

TopponPitat 

Toraytad 
TccJma 
Tastern 
TofD Tnut 
Ton* Motor 
Ytananoudil 

or jt lOttbix WO 


1510 1430 
727 717 

5650 5490 

1620 1570 

2570 2440 

422 410 

11400 10800 
744 721 

504 490 

318 307 

758 722 

197 193 

1680 1650 

1100b 11506 
5520b 52606 
606 601 
270 262 

1890 1810 

14300 13900 
765 742 

4020 3900 

1620 1 580 

461 445 

8950 8640 

5420 5550 

11* 1060 
1160 1140 

9020 8910 

7330 1300 

1890 1880 

404 591 

3350 3230 

2290 2140 

1210 12* 
5600 57* 

116* 109* 
10* 975 

1920 1860 

461 4S0 

1950 1920 

283 278 

1260 1230 

32* 3130 

3610 3500 

10300 971 D 

1960 1950 

1040 998 

1490 1430 

3250 2210 
7760 7310 

288 280 
621 602 
1130 1100 
1090 I860 
785 774 

734 724 

2510 2470 
1010 987 

3400 3220 
3030 3970 


1450 1470 

724 717 

5 490 5590 

1570 1610 

2470 2480 

612 613 

10BQ0 11000 

733 724 

499 497 

309. 318 
733 760 

195 IM 
1650 1650 

1170b 1100b 
5280b 5400b 
604 599 

365 270 

I860 1810 

139* 142* 
743 740 

39* 3960 

16* 1590 

445 451 

8690 8730 
5610 55* 

10* 1050 

11*0 1160 
8920 8910 

1320 1320 

1890 1890 

603 592 

3250 33* 

2220 2120 
12* 1210 
57* 57* 

110* 115* 
981 909 

1860 19* 

458 454 

1930 1950 

2* 279 

1230 1230 

3140 3190 

3500 3600 
9040 unoo 

1960 1940 

1010 10X 

1460 14* 

22T0 2250 

7410 7650 

288 285 

614 623 

1120 1120 

1870 I860 

784 781 

725 728 
2470 2450 

907 992 

3300 3330 
3010 2990 


Toronto 

AbfibiCom. 
Alberta Energy 
Atom Alum 
AndmonEspI 
BkMarfniQ ) 

Bk Nova Salta 

BrrrickGoM 

BCE 

BC Telecomm 
Btodwn Pharai 
BanbanSerfl 
Carneco 
CISC 

Cdn Natl RoH 
Din Nat Rea 
CdnOcddPet 
Cdn Pacific 
ComtacD 
Dafasca 
Domtar 
Donohue A 
Du PorrtCdaA 
EdpeiBmsan 
EwoNevMng 
Fairfax Rrf 
FakimbriOge 
Fletcher OMA 
Franco N e vada 
GoBCdaRes 
Imperial 09 
bca 

IPL Energy 
LtadawS 
Lawn Group 
MoancBidl 
Magna tail A 


7640 

75. BO 

».10 

26 

31 U 

31ft 

30.95 

ttte 

■SI Vi 

50.95 

W.95 

51 

1730 

17 

1/JU 

1/ 

5580 

5510 

55J5 

5530 

Alto 

6705 

6785 

67 

■nio 

37.35 

37 JS 

37.65 

4090 

39 <0 

4030 

3946 

3435 

34.05 

34.15 

343S 

35 70 

35 

35J0 

36 

3030 

79.30 

7940 

7946 

5730 

51.05 

5185 

50 

X't 

3740 

3/85 

3740 

70 

tfto 

69* 

68J0 

36.95 

36 

36* 

36* 

34.95 

3415 

34 Vi 

J4U 

42U 

41 

42 

41.15 

38ta 

3745 

37* 

37.90 

3070 

29 JD 

79* 

29* 

11.90 

1180 

1185 

1185 

374 

33 

3305 

37.90 

3745 

3ft 

37 

37 

7385 

7315 

23 JO 

73.15 

73 

77% 

77W 

73 

389 

vn 

389 

185 

77.70 

7745 

7740 

77 70 

m 

nn 

7340 

73.70 

2ft 

3330 

XU 0 

33140 


10.05 
73tt 
4070 
51 JO 
30.90 
43.10 
1845 
90 


9.9D 
72.15 7320 
39* 39 JD 

Site 51b 
2014 3Wt 
4240 42.90 
1815 18.15 
87.90 89* 


9.95 

7240 

4060 

5095 

204 

42JD 

18.15 


Methaaex 

Moore 

Newbridge Net 
Narandata 
Nonxn Energy 
Ntbeni Tetecom 
Nova 
Onex 

Ponatn Puflm 

Petra Cite 

PtoarDome 

PocaPettai 

PotathSasK 

Raiaissanoe 

RtoAlgom 

Rogers CantefB 

SeareoniCo 

adfCdaA 

Suncor 

TrttanaaEny 

TertB 

Tetagtobe 

Telus 
Thomson 
TorDom Bank 
Tnsualta 
TraraCda Pipe 
Trimark Ftal 
TrlzeCHoftO 
TVXGOM 
Westaoast Eny 
Weston 


1220 

11.95 

12 

12-05 

29 

28-15 

28.15 

7840 

4235 

40.15 

41 JO 

5V80 

75M 

2a05 

28.10 

28.10 

34J0 

34* 

3430 

34/8 

141.95 

137 JO 

140 

13688 

11* 

1140 

1145 

1146 

31M 

31.15 

31 40 

31 

2640 

26 

76 

KJ 

MM 

7485 

2585 

25 

030 

24* 

1110 

2430 

13* 

24J5 

13 

10445 

10115 

103* 

10285 

3185 

35 

35 

35* 

3445 

3405 

34* 

34* 

tm 

2730 

2730 

27H 

49* 

49 JO 

49.45 

48.95 

22* 

2185 

37 JO 

2185 

4615 

43* 

46 

44 

44 

4335 

4320 

43* 

28 

27 

•11 

2ft 

49* 

4840 

49 JO 

4886 

24.70 

2645 

2640 

2648 

3345 

33 

3385 

33 

4145 

4080 

41 JO 

40* 

1740 

17 JO 

l/Ji 

17.70 

2635 

26.10 

26.15 

26* 

Aft 

65 

6SVS 

6416 

32 

3185 

3135 

31.90 

735 

7.15 

7.15 

7.15 

2630 

26.10 

76.10 

26 

97 

96 

9/ 

95 


Vienna 

BoeMer-Uddeii 

CredtmstPM 

EA^eneraS 

EVN 

RwtaofctlWfen 

OMV 

OestBektriz 
V A Stow 
VATedi _ 
Wtenerbog Bau 


ATX todec J389J4 
Pn«lo«R 1349J8 

1014.90 9801009* 967.15 

6* 564 599 55690 

3210 3150 3179308460 
1605 1572199340 1572 

579 510 519 JOB 

17801 707* 1761.101654* 

875 866* 666J0 867 JO 

581 570 57940 562 

2369231005 23402374-50 

2415 2560259495 2545 


TSE hdtoSTrWs; S709J2 
Pmtoea.- 665532 


Wellington 

AirNZMidB 
Briertytawt 
Carter HoA aid 
RetdiChBldB 
Ftatai Cti Eny 
FtEkb Ch Fast 
nefOifli Paper 
Lion Nathan 

T e l ec om HZ 

WBson Horton 11.90 11.90 1190 11JB 


455 

445 

449 

455 

1J8 

IJ7 

138 

1J6 

150 

145 

150 

347 

430 

425 

428 

425 

555 

542 

548 

536 

1.92 

189 

1.90 

1.90 

030 

125 

130 

121 

4 

386 

4 

196 

740 

755 

780 

7J2 


Zurich 

ABBB 
Adecco B„ 

Aies-ShotoB 
AMR 
BaerHdqB 
BatotaeHdgR 
BK Vision 

CAa Spec Chon 

OmMR 

CrI Suisse Go R 

EJeUraunttB 

EmtQtataie 

ESECHdg 

HahtefbonkB 

UecMensILBB 

NertteR 

NnoriisR 

OerttnBwbR 

PragesoHUB 

niarnlriiaB 

RidwnantA 

Pi reB PC 

Roche Hda PC 

5 BCR 

SdMIerPC 
SGSB 
SMH B 
SuberR 
Saras Rem* R 
SurasahR 
i/BSB 
WtatetmurR 
Zurich AontR 


SPItodBHKte 

Pmtoos:3492Jl 


2359 

551 

1369 

2540 

870 

2200 

4020 

1100 

13525 

1066 

190 

538 

6820 

4610 

1279 

589 

1859 

2252 

168 

1925 

924 
3119 

330 

13735 

396 

1930 

3020 

925 
1188 
2107 
1928 
1504 
1389 
600 


2325 

54! 

1347 

2450 

870 

2135 

3950 

1080 

132.75 

1025 

183 

536 

6725 

4570 

1252 

585 

1836 

2176 

161 

1908 

900 

2090 

325 

13490 

391 

1880 

2960 

905 

1165 

2063 

1901 

1476 

1340 

582 


2355 2299 
541 549 

1359 1340 
2450 2450 
870 870 

2180 2120 
4015 3940 
1100 1080 
138 129.75 
1065 1010 
190 181 

538 537 

6790 6800 
4590 4560 
1273 1231 
585 588 

1853 1821 
2252 2135 
168 159 

1925 1900 
910 B94 

2119 2100 
32S 329 

13600 13315 
393 38050 
JH» 1880 
3000 3015 
910 885 

1170 1155 
21* 3066 
1925 1880 
1500 1473 
1385 1332 
596 579 







PAGE 14 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, AUGUST 20, 199" 


Tues day’s 4 P.M. Close 

MaSombfe ptes rat reflecfing late fnKfes etewheit 

TteAssaamtPKss. 


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PACES 


’J4 oo 



INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, AUGUST 20, 1997 


PAGE IS 


■ hik 


r I* 

u'lyf' 


Japan Bond Yield Hits a Low 


Ci«D<pW M-CV Suff Frimi Pupate 

TOKYO — The yield on the 10- 
>ear Japanese government bond 
touched a record low 2.06 percem 
on Tuesday on signs that thecoim! 

% S f S°? omy A WOU,d re ™ weak. 

n Tar0 A > so ' general 
°f the Economic Planning A gen cy 

lnLfjr h c P ns ^" spending 

and a decline in housing starts were 
“a matter of concern/’ the viehl nn 
182 bo JEmS 

2.07 percem by the end of iradbio 
down from 2.08 percent Monday 
■ A “ s counts triggered the 
1 * nds * said Kusuo Aoki. 
chief bond analyst at Yaraaichi Se- 
icunties Co., referring to the rise in 
The EPA’s view, 
which had been relatively optimist 
compared with that of the Bank of 
Japan, has been toned down." Bond 
prices move inversely to yields. 

The benchmark yield will prob- 
ably approach 2 percent if the gov- 
ernor ol the Bank of Japan, Yasuo 
Matsushita, confirms in a regular 
press conference next week that the 
economic recovery remains slug- 


gish. Mr. Aoki said. 

An official at the Ministry of Fi- 
nance said he thought there would not 

* “ cha ? g \ *" ,a P ans m °"- 
tfar>poUcy for the time hemp." 

The official said the ministry was 
caretully watching whether priva?e 
consumption "has been really 

Debts Force Daito Kogyo 
To File for Bankruptcy 

Agetue Frwue-Prcysc 

Da,, o Kogyo Co. 
filed for bankruptcy on Tuesdav, the 
third construction company to fail 
this summer, a private credit re- 
search agency said Tuesday. 

Daito had debts of 155.4 billion 
yen i SI. 3 billion), Teikoku 
Databank said. It filed for protection 
with the Tokyo District Court under 
the corporate rehabilitation law. 

Daito Kogyo 's failure followed 
those of Tokai Kogyo KK and Tada 
Construction Co. in July. ■ 

Tokai Kogyo had debts of 511 
billion yen and Tada Construction 
left 171.4 billion yen in liabilities. 


John Fairfax’s Earnings Fall 16 % 


'nipbid to Our Stgf Frrtn Pispuu 

SYDNEY — John Fairfax Hold- 
ings Ltd. reported Tuesday that net 
! profit fell 16 percent in the year 
ended June as a slowing Australian 
economy limited advertising reven- 
ue at the newspaper publisher. 

The company also cited costs as- 
sociated with a new printing plant 
for the decline in net profit to 73.9 
million Australian dollars (S54.7 
million). Sales rose 3 percent, to 
1.02 billion dollars. 

Although the value of advertising 
at the company's papers, which in- 
clude The Sydney Morning Herald 
and The Age dailies, rose 3 percent, 
volume fell 2 percem. 


Despite the drop in profit, analysts 
said the results were encouraging. 
"It was a good result," one analyst 
in Sydney said "It does not look 
like a good result, but it is." 

Fairfax said much of the weakness 
was in the first half of die year. ‘ ‘This 
result was encouraging and again 
demonstrated some improvement in 
economic conditions and the adver- 
tising market particularly in the last 
few months of the year/' it said. 

Vincent Pepe. media, analyst at 
ABN Amro Hoare Govett Securi- 
ties, said profit would grow strongly 
in the next three years based on 
improving profit margins and a 
pickup in the Australian economy. 


He predicted Fairfax would earn 
Si 15.9 million in the current year. 

Fairfax spent 330 million dollars 
over th’e past two years on a plant in 
Western Sydney to allow it to prim 
more color photos in its newspapers. 

Brierley Investments Ltd. of New 
Zealand owns about 22 percent of 
Fairfax. Analysts have suggested 
that Brierley is planning to sell its 
stake to Kerry Packer, the richest 
Australian, who has indicated that 
he would like to control Fairfax but 
is prohibited from doing so because 
he has interests in Australian tele- 
vision. The government is review- 
ing its media-ownership restric- 
tions. { Reuters . Bloomberg, AFP I 


ASIA/PACIFIC 


weakened or is weak just tempor- 
arily." But Finance Ministry offi- 
cials still maintained the position 
that the economy was in a moderate 
recovery trend, although its tempo 
has been "much slower recently. ' 

Mr. Aso's comments followed a 
series of reports showing an April I 
increase in the national sales tax 
slowed ihe economy. The figures 
ran counter to the EPA’s view last 
month that the economy was on the 
path to a self-sustaining recovery 
and the effects of the tax increase 
had faded. 

Household spending fell a bigger- 
than-expected 4.7 percent in June 
from June 1996 , the sharpest plunge 
in 23 years, the Management and 
Coordination Agency said earlier 
this month. 

In addition, housing starts fell for 
six straight months from January to 
June on a year-on-year basis. 

Dealers' said the buying of gov- 
ernment bonds was cautious, espe- 
cially because the Nikkei stock in- 
dex fell below 19,000. dropping < 
80. 1 0 points, to 1 8.96 1 .00. 

(Bloomberg, Bridge News. AFX ) 


Currency Woes Slow 
Asia Oil Refineries 

Region Faces Lower Demand for Output 

Renters 

TOKYO — The turmoil in the Asian currency markets is especially 
troublesome for the region 's oil refineries, which have been expanding 
their capacity and now face lower-than-expecied demand for their 
output. 

Refinery additions, expected to add some 2.8 million barrels per day 
to Asia’s overall refining capacity by 2000, had just begun io gather 
speed when widespread currency woes affecting Malaysia, the Phil- 
ippines. Thailand, and most recently Indonesia hit the region's ability 
to absorb the growing supplies. 

Inventories of middle distillates in the Asian trade center of Singa- 
pore last week were a huge 40 percem above year-earlier levels at 
10.23 million barrels. 

Analysts say new capacity additions during 1 996 of 620.000 barrels 
per day in South Korea and 275,000 in Thailand are largely responsible 
for the rise, although short-term factors such as lower Chinese diesel 
buying and a first-quarter importing spree bv independent Singapore 
traders are also ro blame. 

Growth in Asian oil-product demand, meanwhile, has slowed 
dramatically in pace-setting economies such as Thailand and South 
Korea, with demand figures from Indonesia. Malaysia and the Phil- 
ippines faring little better, analysts say. 

Thailand, which has suffered a 20 percent drop in the value of its 
currency since July 2, was already on shaky demand footing, having 
logged a 1.2 percent decline in oil product demand for the first half of 
1997. 

Although refinery construction has been slowed to some extent by 
the currency crunch, a 300,000 barrels per day climb in .Asian crude 
distillation capacity 1 is still expected by the end of this year, according 
to data from Washington's Petroleum" Finance Co. 

"The timing is not at all ideal for the region ro be experiencing a 
product surplus, given the economic slowdown we’ve seen," said Sara 
Banaszak, an analyst with the East-West Energy Center, based in 
Honolulu. 

Hardest hit in the near term will be refinery profit margins, as 
product prices decline against stable crude demand, although traders 
nore that the potential arrival of newly exported Iraqi crude volumes 
into Asia could provide some relief by pushing crude prices lower. 

Iraq began exporting crude oil ro world markets last week in the 
second phase of sales allowed under United Nations resolution 986. 

Indonesia, whose currency is also under pressure, still hopes for an 
additional 250,000 banels per day of capacity on top of its existing 
989.500 and last week laid down measures aimed at facilitating private 
investment in new plants. 

China has banned all new refinery construction until 2000 but will 
focus on expansion at existing sites, while India’s planned increases will 
probably be delayed by restrictions on foreign capital investment. 


BANKS: Swiss Profits Soar Despite Dispute on Wartime Accounts 


Peter Catranis^ 

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COMMISSION 


SetfcMw erf Managed Accounts 
Analysis tor All Ujj to Uitkms 
Execution Forex or Futures 
Trotting Sotnure A Free Dais 
Spot FX 2-5 P.c Fnce Spreads 
Futures SJ2S3B Per RocM-Tum 


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Continued from Page 11 

sion inro wholesale finance 
and investment banking," 
Mr. Conrad said. 

Mr. Kalbermatten says that 
Union Bank is the lowest val- 
ued of the big three. Its shares 
are up roughly 26 percent 
since me end of 1 996. lagging 
behind the Swiss index in- 
crease of 37 percent Only the 
Swiss Bank Coip. has out- 
, performed the market. Given 


the banks’ results and the 
market’s momentum, Mr. 
Kalbermatten says he re- 
mains slightly bullish. 

In his view, the main risk to 
ihe banks’ continuing prof- 
itability is the possibility of 
market mrmoil in the United 
Stares and elsewhere over- 
seas. 

But dangers also lurk at 
home, notably the prospect of 
higher interest rates as 
Switzerland’s economy ; 


emerges from recession. 

The Swiss Bank Corp.’s 
announcement that it *pur 
aside $ 1 05 million in the first 
half of this year to cover 
Swiss real-estate risks was 
evidence to most analysts of 
continuing fragility on the do- 
mestic side. 

For all the aegarive pub- 
licity surrounding their han- 
dling of the funds of Nazi 


Hong Kpng. . Tokyo , 

Hang-Song. :. ..Sfraits Times N&kei 225 

17000 -.-2275 22000 ~ — - 

■i6ooo -JyaoOf ■ 21000 - 

15000 -rW- - s 2126 V — r 20000 

■ 14000- -J V : 2050 : 19000 -J- V 

13000 v/ ;■ 1975— IBOOoVfy 

. 12000 y am" JTA ■ 19W, M TTmTJW 17000 fif. A~M~J j'A 
1997 1997 1997 

exchange* ir#$Br ’ Tuesday ' ' 'Frsv.'. ■ ' %■" . 


Ho»g^ v: v/:.' 1$#M8 -46,086.88. -3.8$ 

...1,913.85' ' ^.02 

awfirey . • Afl Onferaries ’ 2^0.90 2,6ifeS0 '+O.O& 


Sydney . ' Afl-Owfewu* 

Tokyo, ? J 
Kuatattenpia; Omrptistte' 

■ Sen^Mt . SET ■ • : 

Seoul ™ CcHT^c^te-i 
Taiptii' • StorttifeSci 

to ilB . :.PSE~ . " 


WeHtncitcn 


Afl-OraSnaifea ; ' 2^2R9B 2,618:50 +0.08 

.'set 

Compose- ^dex •> 741-29 747^9 - 0.80 

Sto^Mari^;iraJwt '^71245 v^TTOjK) ■.-wfljSO 
:.?%E- . T .="'?V" Otiid 2 , 388.67 

"". 890,63 5M J54 " " -1^2 

NZSEf40 ~ ’ ' 2yt93.B8 2,47082' ■ +093 

" "'-bM 


Source: Telekurs 


InicnuLiunul Herald Tnfnine 


victims and their survivors, 
the banks have so far escaped 
any discernible damage to 
their bottom lines from the 
controversy. 

In discussing first-half re- 
sults last week. Swiss Bank 
Corp. officers said business 
in the United States was 
smooth, even with govern- 
ment agencies, and said they 
expected no troubles. 


Very brief ys 

• The Philippines’ trade deficit narrowed 5.3 percent to S906 
million in June. Exports surged 18.7 percem from the same 
month in 1 996 to a value of $2. 129 billion, while imports rose 
10.4 percent to $3,035 billion. 

• Vietnam's Communist Party economic chief in Hanoi, To 
Dung, demanded curbs on unregistered investments after 
Vietnam News reported that half of all private businesses in 
the southern economic hub of Ho Chi Minh City have received 
illegal funds from foreign backers. 

• NEC Corp., the world second largest computer chipmaker. 
wants to build a 100 billion yen ($850 million ) plant in the 
United States to produce large-scale integrated circuits and 
'256-megabit dynamic random-access memory chips. 

• Broken Hill Pty. said it had given its underperforming 
assets, including Whyalla Steelworks in South Australia, New 
Zealand Steel and a'Hawaiian oil refinery, until May 1 998 ro 
raise return on capital to 10 percent or risk being sold 

• Singapore’s inflation-adjusted retail sales rose 4.6 percent 
in June over the same month in 1996 to 2.09 billion Singapore 
dollars ($ 1 .38 billion), led by sales of furniture and household 
equipment, which rose 20.6 percent. 

• Philips Electronics NV raised $283 million selling half of 
its stake in Taiwan Semiconductor Manufacturing Co., or 
51.3 million shares, at 149 Taiwan dollars ($5.20) each. 

• President Enterprises Corp.. Taiwan's largest food com- 
pany, said pretax profit for July rose to 5.05 billion Taiwan 
dollars from 3 14.8 million dollars in the same month of 1996 
after selling 15 percent of President Chain Store Corp.. the 
Taiwan operator of convenience stores. 

• Telecom Corp. of New Zealand said net profit rose 6.2 
percent to 188 million dollars t$120.62 million) in the three 
months to June 30 from the year-earlier period. The company 
also said It would try to lower its expenses, which rose 15 
percem, by cutting costs in its core business. 

• Japan's export shipbuilding orders for July surged 172 

percent from a year earlier io 1 .77 million gross metric tons for 
a total of 39 vessels. Blwmbcrz. A P. AFP. AFX. Refers 


fininl 
_ }i yirhn 


A » 



a 


iy 


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BANQUE AFRICAINE 


INVITATION TO TENDER TO INSURANCE BROKERS 
FOR INSURANCE OF ADB PROPERTIES 


The African Development Bank (ADB) is a multilateral development bank 
established to contribute to the economic development .and the social progress 
of Africa. The ADB Group lias 77 member countries and an authorized capital 
of US$ 21 billion. The ADB enjoys a triple “A” rating from the major 

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The ADB intends to select a firm of insurance brokers to undertake a 
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The tender doc-me nts may be purchased beginning on Wednesday 20 August 
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EMERGF.NO RECONSTRl ct soud HASTf SECTOR 

invitation FOR TENDERS 
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T3» Republic of Rrt.bim.Bon of Tripoli. 

com of Ihe -EniergMWJ & «^rd for the abo' e men ^ ror ^ foDowinB project; - Supply of 

F—i. iTSSSS-S- tn> « “T! Jcnltoo - 1 wacr nn* rinclT. 

The Council for D^elopment ^ coinp2rtor< , track 1 

landfill mobile equipm**- J^ DR . based upon the WoHd Brtk ' s J™ 1 “ ftr the above-mentioned project and will be arigd to 
Thk project ttiU bv ***** ^ doJumentik The bidding doemuente triB be avattaWe for 

Contractors who ^ critrria to be stated ft. «h» hddhS ^ forTn of a banker’s certified checkin the name of the 

it? - Trtri ri cna Brin,.. Utano. - 
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PAGE 16 


INTERNATIONAL HERALD TRIBUNE. WEDNESDAY, AUGUST 20, 1997 


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Ivertisemct INTERNATIONAL FUNDS August 19 , 1997 

available on Internet: http://www.iht.com/iHT/ UN/funds.html 


Quotations supplied t>y fund gfOups to NReropal Pan*P** : *0 28 08 09} Service SpOOSOTed by 

For information on how to list your fund, fax Katy Houri at (33-1) 41 43 92 «“ST± ,undse,htOTn NOKIA 


lb receivo free daily quotations for your funds by Enmafl : euacdbeM«^ ,nds ® Blltfi0,n 


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PAGE 18 


^ HcralOi»bune 

Sports 


WEDNESDAY. AUGUST 20. 1997 


Wings Trade MVP 

ice HOCKEY Goaltender Mike 
Vernon, who played in all 20 playoff 
games as the Detroit Red Wings won 
die Stanley Cup, was traded to the 
San Jose Sharks for two draft picks. 

Vernon, picked the most valu- 
able player in the playoffs, signed a 
three-year deal with San Jose worth 
a reported $2.75 million annually. 

Vernon, a Five-time All Star, re- 
placed Chris Osgood, the regular- 
season No.l, in the playoffs. He 
would have been a free agent after 
the upcoming season. (API 

Young Flyer Dies 

ice hockey Yanick Dupre, a 
left wing who played for the Phil- 
adelphia Flyers, died Saturday 
night of leukemia. He was 24. 

Dupre, a native of Montreal, was 
the Flyers' second-round draft pick 
in the 1991 draft. 

“He fought like a tiger and beat 
all of the medical expectations," 
said Jacques Dupre, his father. 

Dupre learned he had leukemia 
in April 1996. He played parts of 
three seasons with the Flyers be- 
tween 1991 and 1996 and scored 
twice.MP; 

Feyenoord Fans Charged 

soccer A group of Feyenoord 
Rotterdam fans appeared before a 
Dutch court Tuesday, charged with 
taking pan in the fatal beating of a 
rival supporter. A spokeswoman at 
the heavily guarded court in Haar- 
lem said the trial of the 14 young 
men would last at least a week. 

Carlo Picomie. an Ajax Ams- 
terdam fan. was clubbed to death in 
March in a prearranged clash be- 
tween two rival soccer gangs on 
wasteland outside Amsterdam. 

Police said the showdown in- 
volved hundreds of armed fans. 
Witnesses likened the scene to a 
seal cull.l Reuters} 

Cordero’s Choice: Trial 

baseball Wilfredo Cordero, a 
Boston Red Sox outfielder, rejected 
a deal that would have guaranteed 
he spend no time in jail, and chose 
instead to go to trial on charges that 
he assaulted his wife, even though 
Cordero’s lawyer has already com- 
plained that his client will not be 
able to get a fair trial. 

Cordero is accused of hitting 
Ana Cordero with a telephone, 
threatening her life and later vi- 
olating an emergency restraining 
order. The trial was scheduled for 
Ocl 20. 

Kevin Burke, Cordero's attor- 
ney. said Cordero felt he would be 
admitting guilt if he accepted the 
settlement, even though there 
would have been no explicit guilty 
plea. (APi 



Orioles Roll Along, 
Sweeping the Angels 

Lead Over Yankees Mounts to 5 


The Associated Press 

Pinch-hitter Harold Baines drove in 
the winning run in the bottom of the 
ninth on the Anaheim Angels' second 
error of the inning, giving tike Orioles a 
2-1 victory and a three-game sweep in 
Baltimore. 

After blowing a six-run lead to lose 
on Saturday, the Angels went to extra 
innings before falling Sunday. The 


MarcekJ Rios hitting to Jonath- 
an Stark at the MFS Pro 
Championship in Boston. Rios 
won, 6-7 (1-7), 6-2, 7-6 (7-1). 


series finale Monday was more of the 
same, but Tory Collins, the Anaheim 
manager, insisted he saw some good 
things, too. 

“We can leave here saying we played 
them inning for inning, pitch for pitch, 
three straighr nights," Collins said. 
“Yeah, we could be down because we 
got beat, but you betteT look at one thing 
— we can play with them." 

With one out in the ninth, Jeffrey 
Hammonds reached first when Dave 
Hollins misplayed his grounder to third. 
Chris Hoiies then lined a hit-and-run 
single to right, sending Hammonds to 
third. 

Mike Holtz replaced starter Dennis 
Springer and Baines hit a grounder that 
bounded off the glove of first baseman 
Darin Erstad as Hammonds raced 
home. 

The Orioles ’ 1 6th victory in 2 1 games 
gave them a 5-game lead over the idle 
New York Yankees in the AL East. 

Meanwhile, the Angels indefinitely 
suspended leadoff hitter Tony Phillips, 
who is facing a felony charge of cocaine 
possession. 

Phillips has not played since he was 
arrested at a motel on Aug. 10. The 
Angels suspended him after he turned 
down the team's request to go on the 
disabled list and take pan m a drug 
rehabilitation p ro g ra m. 

Writ* Box 5, Marimn Q In Chicago, 
rookie pitchers Scott Eyre and Keith 
Foulke combined on a four-hitter and 
Jorge Fabregas drove in three runs. 

Eyre allowed three hits in five innings 
and Foulke. who came over from San 
Francisco in a nine-player deal on July 
31, allowed just one hit in the final four 
innings for his first major league save. 


Johnson Leads 
Jaguars Over 
49ers, 28-20 


The Associated Press 

SAN FRANCISCO — Ron Johnson, 
making his first start at quarterback in 
place of Mark Brunell, who is injured, 
threw for three touchdowns and led an- 
other scoring drive as the Jacksonville 
Jaguars beat the San Francisco 49ers, 
28-20, in an exhibition game Monday 
nighL 

“Everyone expected that type of game 
from him. He was very cool and showed 
good leadership on the field," said Tom 
Coughlin, the Jacksonville coach. . 

The 49ers (1-2), gave a sloppy per- 
formance that included four turnovers in 
the fust half, when the starters were on 
the field. 

Johnson, a third-year pro from South- 
ern California who has appeared in nine 
NFL games — eight in the preseason, — 
completed 1 1 of 1 3 passes, including the 
last nine straight He passed for 226 yards 
while playing into the third quarter. 

Keenan McCardell helped settle John- 
son into the job, catching five passes for 
127 yards, including a 34-yarder for a 
touchdown and a 23-yarder that set up a 


Imfians 5 , Bki« Jays 3 In Cleveland, 
David Justice hit a three-nm homer, his 
fifth in a week, and Orel Hershiser 
pitched the Indians to their fifth victory 
in six games. 

Justice batted .513 as first-place 
Cleveland went 7-5 on a home stand that 
got off to an ominous 1 -3 start last week, 
sparking debate about manager Mike 
Hargrove's future. 

Justice, who batted in 15 runs on the 
home stand, put Cleveland up, 3-0, with 
his 24th homer in the first. 

Brewers 8, Rangers Sf Rangers 2, 

B rewer s o In Arlington, Texas, Rick 
Helling allowed one bit in eight innings 
in his first start for Texas since he re- 
turned to the club. 

. In the opener, Gerald Williams drove 
in three runs, Juan Gonzalez home red 
twice, Julio Franco went 3 for 4 and 
starter Scon Karl won his sixth 
straight. 

Helling was reacquired by the 
Rangers in a trade with Florida on Aug. 
12. He was sent ro the Marlins last Sept. 
3 as part of a deal that brought John 
Burken to Texas for the Rangers' pen- 
nant stretch drive. 

Lee Stevens’s two home runs ac- 
counted for the only scoring in the 
second game. 

In National League games: 

Phiines 12 , Giants 3 There was no 
loud music playing even though there 
was plenty of cause for celebration in 
the Philadelphia Phillies' clubhouse. 

“That's because this is what we ex- 
pect now," Rex Hudler explained after 
Philadelphia continued its hot streak 
with a victory over San Francisco in 
Philadelphia. 

Billy McMillon and Mike Lieberthal 
became the first pair of Phillies to con- 
nect for grand slams in the same game in 
76 years. 

The Phillies were baseball's laughing 
stock as recently as five weeks ago. 
They still have the worst record in the 
major leagues — 45-76 — but have won 
seven of eight and 15 of 19. 

“In case anybody hadn't noticed, 
we're turning into a pretty good 
ballclub," said Malt Beech, the rookie 
pitcher whose recovery from an 0-7 start 
has coincided with his team's upswing. 



Khnteri) bJfti.’Arajeo Frect-Pr-a-c 

Joe Carter of the Blue Jays writhing after being hit by a pitch. Indians catcher Sandy Alomar looks on. 


Beech (2-71 won his second straight 
start, limiting the Giants (o three hits and 
one earned run in seven innings. 

McMillon. called dp from Triple-A 
Scranton earlier in the day, got the first 
slam in the fourth inning when he lined 
a fastball from Mark Gardner over the 
right-field wall. 

McMillon was obtained from Florida 
in a trade for Darren Daukon. 

Lieberthal, emerging as the catching 
replacement for Daukon with the Phil- 
lies, got the second grand slam to close 
out the Phillies' six-run sixth. 

“We have been plating some great 
baseball lately, and today's no differ- 
ent." said Lieberthal, whose 1 8th homer 


of the season was his first grand slam. 
“Our pitching's giving as a chance to 
win. and we're hitting better." 

The Giants, who committed just eight 
errors in their previous 20 games, made 
up for that by committing four, three in 
the sixth. 

Second baseman Mark Lewis, who 
made two of the errors, shrugged off the 
loss. 

"Sometimes you have games like 
ihis w here nothing goes your way,** he 
said. "You just have to bounce back 
tomorrow." 

Pfratas 7, Martins 2 Pittsburgh took 
advantage of errors by shortstop Edgar 
Renteria and third baseman Bobby 


Bonilla in the seventh inning to win at 
Florida. 

The score v.as 2-2 when Jermaine 
Allenswurth, who had already homered 
and singled, doubled to start the Pirates 
seventh! Mark Smith hit a run-scoring 
single and Eddie Williams doubled be- 
fore the two errors added a pair of 
runs. 

Dale Sveum hit a two-run homer in 
the ninth for Pittsburgh and Moise AIou 
homered for the Mariins. 

Florida starter Kirt Ojala. who spent 
eight seasons in the minors, lasted 33$ 
innings in his major league debuL He 
gave up two runs on four hits and three 
walks. 




Judgment Day Arrives in NFL 
As Coaches Make First Cuts 


Su-jn Kjpjn "Dir 

Quarterback Steve Young scrambling for a gain against the Jaguars. 


touchdown run by Natrone Means. 

“I was pretty comfortable out there, 
knowing I was going up against a pretty 
good defense. Guys were open ana they 
made the plays,'' Johnson said. 

The showing was an encouraging de- 
velopment for Jacksonville (3-0). 
shaken last week by the knee injury to 
Brunell, who will need about eight 
weeks of rehabilitation. 


There was also an audible gasp from 
the San Francisco crowd when comer- 
back Dave Thomas jolted Jerry Rice as he 
was preparing to haul in a pass from Steve 
Young. The force of the blow separated 
Rice from the bail and knocked him to the 
ground. Shaken up, he trotted off the 
field, but returned after missing one play 
and finished with three receptions for 61 
yards, including a 35-yarder. 


7'V « P\ i r. 

Twenty \ear> of experience as a Na- 
tional Football League player and coach 
don't make it any easier for Tony Dungy 
to make squad cuts. 

"It's ditucui:." the second-war 
coach of the Tampa Bay Buccaneers 
said. "Especially the way it js now 
where you get sc>? in March, you've 
got your off-season program and 
They've been here four or five months, 
and you've got to tell them they’re not 
going to be with you. 

“fii a lor of cases, guys have done 
everything that's been asked." he said. 

Nineteen players, including veteran 
safety' Todd Scott, were waived by 
Tampa Bay Monday as Dungy trimmed 
the roster to 60 players. 

"Obviously, we had some tough de- 
cisions,” the general manager." Rich 
McKay said. “I expect next week's cut 
down to 53 will be even harder.” 

Among other players cut Monday, 
were Reggie Rivers, a running back arid 
special-teams player who had" been wirh 
the Denver Broncos for six years. 
Rivers. 29. played in 69 games, rushed 
for 428 yards, caught 75 passes for 675 
yards and scored eight touchdowns for 
Denver. 


The New Orleans Saints cut Jake 
Delhomme, the record-setting quarter- 
back from Southwestern Louisiana, but 
he expects to join the practice squad. 

The Green Bay Packers placed Edgar 
Bennett, a halfback, on injured reserve. 

He will miss the season with a tom 
Achilles' tendon. The Miami Dolphins 
placed receiver Yatil Green, their first 
round draft pick, on injured reserve. 

■ Sanders’ Injury Sidelines Him 

Deion Sanders will miss a few base- / h 
ball games because of a bulging disk in 
his back, and he is starting to worry that 
the problem will affect htsfoof ball career 
as well. The Associated Press reported. 

Sanders had another cortisone injec- 
tion in his lower back -Monday and will 
miss the Cincinnati Reds’ next two 
games while undergoing therapy. 

The siar player in two sports is con- 
cerned that the problem might interfere 
with his plans to play comerback for the 
Dallas Cowboys. Under his unusual 
contract with the Reds. Sanders will be 
allowed ro leave on weekends to play 
regular-season games for Dallas. 

He had hoped to be working out now 
io get in condition for football, but the 
bulging disk has limited him. 


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GAMBLE: Government Goes After Betting Parlors on the Web 


Continued from Page 1 

set up a gambling site but was stopped by 
a lawsuit. 

Others argue that Congress should ac- 
cept Internet gambling and regulate it. 
“Go ahead, take our tax money.’’ said Jay 
Cohen, who operates the sports betting site 
World Sports Exchange out of Antigua. 

Gambling sites, which are available to 
anyone with access to the Internet in any 
country come in iwo general flavors: those 
that offer casino games such as blackjack, 
roulette and craps, and those that take bets 
on sporting events. Sports book sites out- 
number on-line casinos by about 2 to I. 
Some sites specifically cater to non-U. S. 
customers: Inteitops. a sports betting site 
now in Antigua but formerly located in 
Austria accepts bets in German. 

In a typical casino site, a first-time 
gambler must open an account, usually 
by providing a credit card number. Many 
sites require that customers mail in a 
minimum deposit ahead of time, usually 
from $100 to $500. Bets can be placed 
for as little os $10. 

Site operators have computers that run 
complex programs that are supposed to 
simulate the chance and skills of a pur- 
| ticular game. After receiving bets from 
; across the Internet, they conduct u game 
— simulating the 'Spin of a roulette 
wheel, say — and report back to players 
whether the outcome. The player is left 
largely to lake on faith that the game was 
played honestly. 

The industry is nothing if not lull of 
potential, analysts says, providing a ser- 
vice (hat people often cannot obtain oih- 


erwise in their home states. Americans 
spent $550 billion on gambling last year 
— more than three times the revenue of 
General Motors Corp. 

Mr. Cohen believes in on-line wagering 
so much that he quit a high-paying job on 
the Pacific Slock Exchange and took a 
gamble of his own in Antigua in January, 
starting World Sports Exchange. The li- 
censed sports book operation has about 
400 customers. His site, and similar ones, 
aim to make money the some way bookies 
in the real world do: They set odds that tliey 
hope will give them an advantage and thus 
produce a profit. 

Mr. Cohen said he is mystified at the 
hullabaloo over Iniemet gambling. 

“Why should this be any different from 
going to Vegas?" he asked. “If anything, 
we’re more responsible. Vegas is all about 
sucking you in.” 

“We don't pour drinks down people’s 
throats," he added, “trying to impair 
their judgment." 

He said that his site included links to 
the Gamblers Anonymous Web Site and 
was registered with such child-protection 
services as Net Nanny as a way to ensure 
that underage gamblers did not bet. 

The recent Supreme Court ruling over- 
turning the Communications Decency Act. 
u law that provided fur criminal penalties 

for people who make “indecent" material 

available to minora on-line, is a signal that 
government should keep its “hands olY the 
Internet." he said. 

But governmental regulation has not 
gone away. Senator Jon Kyi has intro- 
duced a bill that would update (he ln- 
tersiale Wire Acl. which makes it illegal 


to use a telephone to assist betting acros 
state lines, to specifically prohibit In 
femer gambling. Under the Arizona Re 
publican s bill, operators of on-fin 
gambling sues would be punished will 
fines of up to $20,000 and prison terms o 
up to tour years, and individual bettor 
would face S2M fines and six-montl 
prison terms. 

"Virtual casinos make it easier fo 
those with gambling addictions to sinl 
deeper into debt and despair because al 
they have to do is sit down and log on • 
satd the chairman of the Judicial?- sub 
committee on technology. terrorist m< 

government information n< 

Supporting Mr. Kvl are a hosl of 
attorneys general. The Naiion-il a ' 
eianon of Attorneys Gener-d h, 
Muslically endorsed the legislation"':^ 
attorneys general such as j-.v n ' 
Missouri and Hubert H Humnl-^ 1 ^? 1 . Cl 

dumt 

very dumb bet. The^nH lm ' ;r nei is a 

etimblins '.swhllihu' n "- |ine 

Caribbean and place btrr " fly . 10 ,hc 
virtual visit be different * t !; sl,,, uld a 
•he law is clear. Internet , ° M- r - N«on. 
legal in Missouri, no i vu!" lb K not 
on-line hookies are based F WhtTe ,he 











Irish Star 
Gets Back 
In the Swim 
With Victory 

Gm/iilat b\ Our SuigTmn Dopes,- hi 

' SEVILLE — Michelle de Brain of 
■Ireland — formerly Michelle Smith — 
wm gold in the 400-merer individual 
jnedley in the European Swimming 
Championships Tuesday, her first big 
a ^ ace since she won three gold medals a 
year ago in the Atlanta Olympics. 

’■ . Dc Bruin, 27, who has raced little 
since Atlanta and had no qualifying rimt* 
in the 400. an event she won in Atlanta, 
clocked 4 minutes 42.08 seconds, the 
best time in Europe this season and the 
-third best time in the world. 

; Yana Klochkova of Ukraine was 
second in 4:43.07 and Hana Cerna of the 
Czech Republic was third in 4:44.05. 

. De Bruin had entered six events in 
■Seville but pulled out of the 800-meter 
freestyle. She is the defending European 
champion in the 200 butterfly and 200 
medley. She won the 200 medley and 400 
medley and the 400 freestyle in Atlanta. 

She is entered under the surname of 
her husband, Erik de Brain. She has 
threatened to pull out of the champi- 
onships if there are too many questions 
■about drugs or about her husband, a 
former Dutch discus thrower and shot 
.putter, who recently completed a drag 
ban. 

; In qualifying for the men’s 100 me- 
ters breaststroke, Andrei Korneyev, the 
;01ympic bronze medallist, and Thomas 
Schmolt, a German, were disqualified in 
the same heat after two false starts. 

They were ushered away by the starter 
when they ignored the disqualification 
and got back onto their blocks. Schmolt 
then scampered back once more before 
accepting the ruling. (AP. Reuters ) 



I I Gtillkn/ Apacr Frme-?iAe 

Jose Luis Hidalgo, (op, and Ruben Santos of Spain leaping from the three- 
meter board in the synchronized diving competition at the European 
swimming championships in Seville. Holger Schlepps and Alexander 
Mesch of Germany won the gold medal. The Spanish pair took silver. 


German Coach Sends His Love 

World Soccer J Ron Hughes 


Iniernuriunal Herjlci Tribune 

L ONDON — The letter from the 
Bundestrainer dropped on rhe 
doormats of each German nation- 
al team soccer player. It was intended to 
drop heavily. 

One year ago, Berti Vogts had been 
their friend and mentor as Germany won 
the European championship. One year 
hence, he hopes to lead them through the 
World Cup finals. Right now, Vogts, the 
national team coach, is looking for pro- 
fessional honesty rather than the friend- 
ship of his players. 

He spelled out to them his “total 
dissatisfaction” with their performanc- 
es since Euro 96. He named names. He 
pointed the finger. He warned: “If we 
don't improve in preseason prepara- 
tions, we could have problems qual- 
ifying for the World Cup, or crying to 
pnt on a show if we get there. * ’ 

The royal “we’ r was interesting. 
Vogts, 1 1 years now' the butt of German 
disaffection when things go slightly 
wrong, is the sole selector. He is the" man 
who will be kissed (again) by Chan- 
cellor Helmut Kohl, or kicked into Ger- 
many's growing unemployment queue. 

If his letter has penetrated, it will show 
on Wednesday. His team is in Belfast for 
a World Cup qualifier against Northern 
Ireland. Five times in 20 years, Germans 
have met Ulstermen. Five times Northern 
Ireland has resisted defeat. It upset Ger- 
many. 1-0. in Hamburg in 1983 in Euro- 
pean qualifying and drew a World Cup 
game, 1-1. in Nuremberg in November. 

There is something about the Irish 
when they have no hope of qualifying, 
and nothing to lose in having a go. 

There, I believe, lies the crux of Berti’ s 
briefing. For the first time in a decade, he 
has been unable to arrange a warm-up 
match. Maybe he worries that players 
coming off the beach will not be as 
hardened as Germans normally are. 

The players can read between the 
lines; they know the pressures on Berti, 
and two thirds of them, being the wrong 
side of 30. know his min d games. 

They know that the letter, with its 


criticism that "‘some of you believe how 
good you are, listening to your friends 
instead of the coach" was intentionally 
leaked for public consumption. 

We have heard it before. In 1978, 
Helmut Schoen berated the mercenary 

g ayers he previously coached to World 
up glory. In 1990, Franz Beckenbauer 
used the energy from battles in the dress- 
ing room to fuel Germany’s World Cup 
victoiy. When German players bicker, 
they become serious. When they are 
serious, they win. 

Vogts is stirring up Germany to rout 
the Irish. He cannot accept that there is a 
Northern Irish defender as dependable 
as Jurgen Kohler (31 years, 91 caps), a 
midfielder as effervescent as Thomas 
Hassler (31 years, 83 caps), or a striker 
as potent as Jurgen Klinsmann (33 
years, 96 cap£. 41 goals). 

Vogts complained that Germany 
should have crushed Northern Ireland, 6- 
1 or 7-1, in Nuremberg. Tommy Wright, 
die goalie who blocked Ireland’s net that 
night is injured So is his deputy. 

Klinsmann ought to be hungry for a 
goal because he hasn't scored for Ger- 
many in 10 hours and four minutes. Like 
Christian Ziege and Oliver Bierhoff, he 
plays in Italy, where clubs have not yet 
started the competitive season. 

Vogts trusts Klinsmann to show the 
benefit of a summer's rest on limbs so 
athletic, if in sports terms so aging. 

The Bundestrainer expects h is men to 
deliver — to improve a record that reads 
played eight, won five, drawn three, lost 
none since Euro 96 bat ended last sea- 
son with a goalless draw in Ukraine. 

Moreover, Vogts isn't satisfied with 
progress since the 1994 World Cup, 
even though Germany has been beaten 
only twice in 37 matches. 

The problem is that Germany, as a 
nation, has begun to do something it 
hasn’t done for 50 years — to doubt its 
own dynamism, its economic power. 
Implicit in his message is that million- 


aire players can lift the depression. 

Ukraine and Portugal lead Germany in 
European Group 9. But if Germany 
matches ego with effort, qualifying 
should be no problem. Typically, Ger- 
many's officials have arranged for their 
team the advantage of playing the last 
three matches at home; versus Portugal 
on Sept. 6, then Armenia and Albania. 

If the attitude is right, next summer’s 
letters will he kinder, and weighed down 
by Deutsche marks. 

C OLOMBIA’S players have more 
reason to be wary. Like Klins- 
mann, the Colombian captain. 
Carlos Valderrama, and his pals are too 
long in the tooth to be kidded. 

Some played in 1994, when an ac- 
quiescent defeat to the United States was 
followed by the death in Medellin of 
Andrez Escobar, a defender who scored 
an own goal, and was shot and killed. 

On Wednesday, Colombia is again on 
World Cup duty. It is expected to bear 
Bolivia, to regain ground in die fevered 
South American qualifying battle in 
which four countries will qualify. 

Colombia has blown from hot fa- 
vorites to fickle outsiders. After it fell, 
4-1, to Chile in July, death threats and 
drug stories started again. 

ki I thought we had moved on from 
1994,” said coach Heraan Dario Gomez. 
His players girded themselves, beat 
Ecuador 1-0, and restored some faith. 

Their’ s is a claustrophobic existence. 
Juan Josi Bellini, one-time Colombian 
FA president, is in jail accused of ac- 
cepting drug money. A state investigator 
says 80 of the leading 142 shareholders in 
Colombia's 16 major clubs are involved 
in drag trafficking or money laundering. 
The last tiling anyone needed was for 
Anthony De Avila to dedicate his win- 
ning goal against Ecuador on July 20 to 
two jailed cocaine carrel members. 

Rob Hughes is on the staff of The 
Times of London. 



Scoreboard 


BASEBALL 


I . • 

it Major League Standings 




EAST DIVISION 











W 

L 

Pet 

Baltimore 

77 

43 

Mi 

New York 

73 

49 

-598 

Boston 

62 

63 

496 

Toronto 

59 

63 

M 4 

Detroit 

57 

66 

463 


CENTRAL DnmON 


Cleveland 

64 

57 

329 

Chicago 

60 

63 

488 

Mihraukm 

60 

63 

488 

Kansas City 

51 

69 

425 

MJnnesata 

51 

72 

41S 


WEST DIVISION 


Seattle 

69 

55 

356 

Anaheim 

68 

56 

1548 

Te*»- “/• ' 

60 

65 

480 

Oakland 

SO 

75 

400- 

HAItONAlUAea 

1 


EAsravraoN 



w 

L 

Pel. 

Atlanta 

76 

49 

m 

Florida 

71 

-52 

-577 

New York 

67 

56 

345 

Manfred 

61 

61 

300 

PMwMphk) 

45 

76 

372 


CENTRAL DtVWON 


Houston 

66 

58 

332 

Pittsburgh 

61 

63 

492 

St. Louis 

56 

67 

-45S 

Cincinnati 

54 

68 

443 

Chicago 

so 

75 

400 


WEST DIVISION 


San Frandsco 70 

56 

556 

Ln Angeles 

67 

57 

MO 

Colorado 

60 

64 

484 

San Dlega 

60 

64 

484 

MONDJET'aUNBSCOM* 

AMERICAN LEAGUE 


Toronto 

002 

100 000-3 


GB 


1 

9 W 


5 

9% 


f 


Oewtand 301 Ml 00* — S 9 1 

W.Wiinams, Plesoc (7). QiwnfriR O) and B. 
Santiago; Hershfeer, AOacfcsor (6), Mesa 
GB and S. Atorror. W— Herah'ew 11-5. L— W. 
WMatns 7-11. S*-Masa (6). HRs-Tomnta. 
Sprague 02). StvGroon OS). Oevdand, 
femtirez CM. Juste* <20. 


Mitwwtee 042 000 002-8 12 1 

Texas 100 102 100-^5 9 0 

Kart Fettms (6). Da Jones (9) and 
Malhwiy; Stuitce. Whiteside 13). Gunderson 
(9). Pattmon (9) and I. Rodriguez. W— Kart 
8-10. L—S turtle, l-l. Sv— OoJenes {26}. 
HRs— Milwaukee, JuPronco (4). Texas. 
Ju-Gonzctez 2 (30). 

Second Gam 

MHwaufcte DOG no OBO-8 1 0 

Tons 000 010 10X-2 7 0 

Adamson A. Reyes (7) and Levis Helling, 
Wettekmd (B and Leyiftz. W— HeSng, 1-0. 
L— Adamsoa 3-Z Sv-Weffeiand 07). 
HR*— Texas, L Stevens 2 OS}. 

Anaheim 000 001 000-1 7 2 

Batflaw* ooi on 001—2 t 0 

D-Springer, Holtz (9) and Td.Green® 
Mussina Rhodes (8), Mtfl* (9) and Hades. 
W— MW* 2-1. L— D. Springer; Si 
Snaffle 000 008 008-0 4 0 

Oksgo 001 103 BOX— 6 9 0 

Lao, Spoferic (4). B- Wefts (71 and 
DaWOswc Eyre, FouUw (6) and Fabregas. 
W— EymM-L— Ura. 5-S.Sw— Fculte ni. 
NATIONAL LEAGUE 

Pittsburgh 001 100 3S2-7 f| 1 

Florida 001 108 000—2 7 3 

Loatza. Christiansen C7L M. WSVkn CTO. 
Loisefle (9) and Kendal; Ofida Alta need 
44), F. Heredia (7). Cook (8L Nen (9) and 
CJolwson. W— Lootzn, 9-8. L— Alfonseca. 1- 
1 . HRs — Pittsburgh. Aliensworth Suetim 

OD- Florida AJouU7). 

Sao Froadsce 008 011 001-3 t 4 

PMadripMO 004 004 02x— 12 14 2 

Gardner. MuIhoUand W, Poole (7). R. 
Rodriguez (8) andBJohrworo Beech. Biazler 
(8) and UeberitHL W— Beech. 2-7. 
L— Gmlnec 12-7. HRs-Phfladejphia. 
Lieberthal Cl 8), McMflton (1). 

AMERICAN LEAGUE LEADERS 

a AB R H Aug. 

FTbomasCUW 108 394 80 134 340 

Justice Cle 101 353 60 11B .334 

DNeWNYY 115 425 76 141 332 

RantaezOe 113 418 70 138 330 

MVhugtaiBos m 386 73 127 329 

WCtarkTex 108 39! 56 128 327 

BeWUHamsNYY 92 359 77 117 326 

EMartinezSea 124 436 88 1*! 336 

Gmef Tex 122 465 83 150 .323 

Cora Sea 11* 456 85 145 318 

RUNS— Garctapana Boston. 9& 


Knoblauch, Minnesota, 94- Griffey Jr. Seattle 
9Z Jeter, New York. 89; E. Martinez. Seattle. 
B& B. LHunter. Detroit, 86; Cora Seattle. 95. 

RBI— T. Martinez. New York. 116; Griffey 
Jr. Seattle. 114- J. uGonzaJez. Texts. 1 0ft 
Salmon, Anaheim. 9* F. Thomas, Chicago. 
98. 0. -Neflt New York, ToClort, Detroit 

9a 

HITS — Gordo perro, Boston. 161 Greer. 
Texas, 15ft Jeter. New York. 147; I. 
Rodriguez. Texas, 14* G. Anderson 
Anaheim, 145; J- hValent to, Boston 14& 
Cota Seattle. 145. 

DOU BLES—Jh Valentin. Boston 39; 
CirSta M Ataufcee 3i A. Rodriguez. Seattle 
3Si Cota Seattle 25; O. ~Ue£S. Nea York. 34; 
Gardapcnra, Boston 33: 6 me tied uritti 30. 

TRIPLES— Garoapana Boston 9; 
Knoblauch, Minnesota. 5; Jeter. New York. 7; 
Afleta, Anaheim 7; Danai Kansas City, e- 
Bundtz. Mhvootae. 6; Cflemcn Kansas Gfy. 
is Vtzqwi O-vdcrs & B. Andereon. 

Batttaiom,6L — 

HOME RUNS— Griffey Jr, Secnte 4ft T. 
Martinez. New York. 39s McGwire, Ooktana 
34 Thome Qevdand, 33; JuGonzatez, 
Tex as , 3a Buhner. Seattle 3ft F- Thornes. 
Odc6ga28. 

STOLEN BASES— B. LHunter, Detroit 6V 
Knobhnich. Minnesota. 4& Nixon Tororita 
47; TGoodurto. Texas. 4fc VizqueL Oevetond, 
34 Durham Ctocoge 24 A. Rodriguez, 
Seattle 22- 

PITCHING (14 Decisions) — Oemens, 
Toronto. 194 336, 1.7ft- R. aJohnsoa 
Seattle, 16* .80(1 24ft Moyer. Seattle, 12-4, 
jsa 406r Erickson Baltimore. 14-5, .737. 

D. Weils, New YOik, 14-ft J37, 36ft 
Mussina Boffimore 13-5, J22. 3.19; Blalt. 
Detroit 12-S .705, 411 
STRHCEOITTS— RnJohnson Sedfle 254 
Clemens. Torarda 226; Cone N.Y. 215; 
Mussina Baltimore 167; Appier, Kansas City,' 
152; C Finley, Anaheim. ISfc Fassera 
Seattle 149. 

SAVES— M. RWera. New York, 3& 
RaMyets. Boffimoie 3 61 R. Hernandez, 
Chfcopo. 271 Wettelcnd. Texas, 27; DoJones, 
Milwaukee 24 ToJortes. Detroit 2St Taylor, 
OaUanit21. 

NATIONAL LEAGUE LEADERS 

G AB R H Ayg. 
LWdflwCol 119 445 110 169 -380 

GwynnSD 114 457 59 173 479 


Piazza LA 116 419 73 146 348 

Lofton At! 87 364 65 125 343 

Joyner 5D 103 358 50 119 332 

AlforuoNYM 112 376 60 121 322 

LonkfordStL 96 348 67 111 319 

MoGmceChC 115 421 60 134 318 

GafarrogaCal 117 459 87 146 318 

BlouserAtl 119 410 70 128 312 

Bonilla Fla 119 439 59 137 312 

RUNS — Biggie Houston lift L Walket 
Colorado, lift Bonds. San Frandsca 91; 
Galarraga. Colorado. 87; Bagwell Houston 
84 E. cYoang. Colo rode 7ft Kent San Fran. 
75. 

KBt— Gakmoga Colorado, Hi Sogueft 
Houston 105: L Waher, Coiorade 101; 
Gwyrm. San Diego. 99; Kent San Frandsca 
94 C hJones, Atlanta, 95. A lag, Florida 94. 

HITS— Gwynn San Dlega 173. L. Weaver, 
Colorado, loft Biggie Houston 151; Piazza 
Los Angelee 14& Gatonaga Cotorada 146; 

Mondesi Los Angeles. 14& ChJones, Aitama 
- 14* WonuxJirPiasfcuigifc 144- 

DOUBLEs — GnjdfletaneK. Montreal 44 
Miorandml Phteddphla 3 fc L. Walker. 
Cotorada 36; Gwyna Son Diega 35; Lonsmg. 
Montreal 3 4 BonUa Florida 34; ChJonee 
Aflanto. 31; BogweU, Houston 31; B|»ia 
hoastaa 31. 

TRIPLES— DeShWds. SL Louie 1b W- 
Goerrero, Los Angetek ft Womack, 
Pmsburgto ft Randa Pittsburgh, ft a 
Sondeie Gndnnafl, T, Dautton Florida 75 
Tucker, Atlanta Cl EcYoung, Cotorada 6; 
McRae. New York. 6; L- Johnson CWooge 
6 . 

HOME RUNS— L. Walter. Cotorada 36. 
Bagwell Houston 3ft CasHBa Cotorada 31; 
Gobnaga Cotorada 31; Bonds, San 
FionciKe 3ft Piazza Loo Angelee 27; 
Hundley, New York. 26; Sosa Chleoga 26. 

STOLEN BASES— D- Sanders. Oidnmrt 
5 61 Womack, Pittstangh. 44; D. eShfeltfc SL 
Louie 43; EcYoung. Cotorada 32; Q. Veras. 
Sen Dlega 2ft Henderson San Dlega 2ft 
Blggta Houston 27. 

PITCHING (14 DedsioBO— Neogle 
Atlanta 16-3 342. 23* Kita Houston 16i 
842. 232: G. Maddux. Atlanta. 16-1 342. 23ft 
Estes, Son Frandsca 15-4. -7S9, 2.9ft J. 
HaniNon San Diega UK 714 4Jte P. 
J Martinez, Montreal 144» 70ft 17(t Judea 
Montreal 11-S 487. 472. 

STRIKEOUTS— SdtiBne Philadelphia 


24ft P. J Martinez, Montreal 21ft Noma Los 
Angeles. 187,- Smoltz, Atlanta 172rK.J3rawn 
Florida 171; Kite Houston 162; AIBenes. St. 
Louis, 160. 

SAVES— Beck. San Frandsca 34- Nen 
Florida 30; JoFranca New York, 3ft Hoffman. 
San Dlega 2ft Wohlere Atlanta 2 ft 
ToWoneL Las Anpeiea 2ft Eckereley. St. 
Louia 29. 


Japanese Leagues 


ennui uuKHifl 



W 

L 

T 

Pet 

GB 

Yakut! 

59 

39 

2 

402 

— 

Yota homo 

52 

43 

— 

347 

53 

Hiroshima 

50 

47 

— 

315 

83 

Oiuman 

47 

54 

1 

465 

133 

HansWn 

44 

54 

1 

449 

153 

Yomturi 

42 

57 

— 

424 

173 

MamuAOdt 




W 

L 

T 

Pet. 

GB 

Oral 

53 

38 ‘ 

3 

382 


Seibu 

52 

44 

2 

342 

33 

Nippon Ham 

49 

51 

1 

490 

83 

Da id 

48 

52 

— 

480 

93 

Wntehu 

46 

53 

2 

4&S 

113 

Lotte 

47 

51 

2 

.446 

125 


TIIISOAVSRIStan 
CENTRAL LEAGUE 
Yokohama 3. YokuB 2 
Yomluri 4 Hatwhln? 

Hiroshima 11 Chunlchl 3 

PACIFIC LEAGUE 
Oaf* 11. Orix 8 
Setou tl Lotte 3 
Kintetsu 2, Nippon Ham 0. 


SEATTLE -Recalled RHP Felipe Urn from 
Tacoma. PCLSent INF Andy Sheefs to Toco- 
nta 

NATIONAL LEAGUE 

ni— Announced 3-day suspension of San 
Frandscos Jeff Kent was reduced to turn 
days. Aug. 19 and 20. 

Colorado —Announced resigntriton of 
Mike Swanson public relations director, ef- 
fective Od. l to ft*e similar pasdtnn wtih 
Arizona Dtenondbocki. 

Philadelphia— Optioned OF Rkky Otero 
to Scranton IL. Sent RHP Scott Ruftaom out- 
right to Scranton. Recalled OF Bffly McMillan 
and RHP Ron Bkzzter fromSamrton. 

un fran asco -Put C Damon BenryWH on 
15-day disabled list. Recalled C Doug 
MinjbeRt from Phoenht, PCL 
USKITBAU 

NATIONAL BASKETBALL ASSOCIATION 
DALLAS -Signed G Erick Strickland to 6- 
year contract. 

LA. CUPPERS— Signed C Nate Huffman. 

POOTBAU. 

NATIONAL FOOTBALL LEAGUE 
ATLANTA -Retsraed QB Tommy Maddox, 
WR Tyrone Brown G Jeff Pahvkon RB 
Richard Huntley, DT Troy BoBey, LB 
Paxcholl Davis. CB Ttoi Denton WR Omar 
Ellison LB Jamal Fountains. DT Brad 
Keeney, PK David Lauder. G Keith Lonekec 
WR Peorce Pegrasn S Terry Roy. DE Jason 
Simmons. Wr Kevin Thoroal and DT MatMas 
Vavoo. Pul FB Fred Lester on Iniuted re- 


FOOTBALL 


NFL Preseason 


Jacksonville 2ft San Frandsca 20.- 


TRANSITIONS 


MMMU, 

AMERICAN LEAOUE 

ANAHEIM -Suspended OF Tony PhHIlps 
indefinitely. 

cm kaco -Acquired SS Juan Bautista tram 
BaRraore Orioles to complete July 29th trade 
forDH HoraW Baines. 


BALTIMORE -Waived LB Rusty Arrington 
LB Shown Ban knOL Mott Cravens, OLCnrig 
Novettsky, OL Klreem Swlnton DE Mike 
Ivey. TE BIB Khoynt DB Verone McKMey. 
DB Jermrrine TrenL DB Michael Wright. QB 
Scott Otis and WR Shown Wart. Put WR 
Eddie Brtttorv OL Sole isaki and C Je« 
Mitchell on Injured reserve. 

buffaCo — WoVved RB Carey Bender. TE 
Jason Bratton, LB Tyreil Buckner, P More 
CoIRns. WR Jimmy Cunningham TE Put 
Fitzgerald. DB QtffGreen RB Rene IngogRa 
OL Dave Hack. DE Juan Hammonds, K Gar- 
los Huerta. LB Paul Lo costa. OL Mike Rock- 
wood. TE MfceTBtey. DT Esera Tuaotoand 
DB Sean Woodson 

carouna -Waived NT Ed Phllloa CB 
Mlchoel Reed, TE SyO Tucker. PK David 
Akers. LB Sedrtc Oar*. G Robert Denton T 


Brian Estes. WR Marlon Evan, P Brian 
Crogeri T Todd Hunter, DE Bryan Juimla 
LB Myron Newsomn DE Jeff OgartL LB 
MBcheB Palmec S Nokia Reddick and CB 
Tim Sensley. Put S Eric Vance on vralved- 
bilurednst. 

QNQNMATI -Waived S Bracey Walker, OL 
MeMnTuten NT WIHIam Cara WR Jeff KHI 
and LB Randy Neal Terminated contmds of 
LB Eddie Sutter and TE Troy SadamkL 

DALLAS— WdtvedS Roger Harper. QB Mac 
Knake. LB Ketry Mock, TE Sean Shnms. DE 
Brett Williams imd DB MonlreB W1 lOams. 

Denver— Waived RB Reggie Rlvere. 

MESN sat— Waived WR Chris Millet WR 
Ronnie Anderson, DT Mike Thompson TE 
Kyle Wachholtz and DE Nicholas Lopez. Put 
RB Edgar Bennett on iniuted reserve. 

INDIANAPOLIS —Waived LB Devon Mc- 
Donald. RB Mflfcnlm Thomas. DB Rico Clark. 
DB Clarence Thompson DB Tim McTyer, OL 
Ran Coffins. OL Brannon Kidd. tVR Juan 
Daniels. WR Levi KeaJatoW. TE Darren 
Drexler, DL John Moyer ml DL Lorenzo 
West. Put OL CDoy WiUom on fnfnred re- 
serve. 

MIAMI -Waived OT Jerome Daniete G 
Randy Wheeled G Donnie Young, DE Larry 
Jackson S Charles Anthony. WR Olmflrious 
Stanley. DE Oscar Sturgis, LB Marc LBlto- 
rtdge. DT MDw Mohrtag, FB Robert WBson 
FB Ray Nealy and TE Walter Reeves. Placed 
RB Kirby Dor Doc WR Yatfl Green and LB 
Lorry bzo on injured reserve. 

MINNESOTA —Waived K Scott Sisson DB 
Chris Johnson DB Kvmme Elite DB Robert 
Davis. DB DoaneBuHet WR Clarence Jone& 
WR Yo Murphy. C Ben Lynch, LB AHen 
Sftmsbury, DE Todridc McIntosh and FB 
Obafeml Ayanbadelo. Put CB Antorao Banks 
on Injured reserve. 

N EW ORLEANS -Waived T Louts Age WR 
Shannon Bakec K John Bodavoort QB Jake 
Doteomma WR Lm DeRnmus. P Shoyne 
Edge, S Tom Eurape. WR Terry Goes* S 
Chris Hewitt DT Joe OSrien DT Emile 
Palmer, LB WHIten Slmsond RB Rk*y Whit- 
tle. PutTE Paul Green and LB Brian Jones on 
Injured reserve. Put G Jeridi on reserve- phys- 
ically unable to perform list. 

M.Y.ouNTS-PutWROmarDoirttesonln- 
|ered reserve- Waived FB Matt Calhoun DL 
Harold Gragg. DL Dameil GBItard PK Brian 
Hurley, 5 James Johnson WR Van Johnson 


and T Dave Rlkffl. 

M.Y. jets— W aived DE Jeff Cummins. RB 
Lou DAgostino. WR Joe Douglass, WR Todd 
Danzan, TE Brian Gaine, LB Craig Guest LB 
Tyrone Hines, T Troy Stark. DB Anthony 
Walker and S Steve Rosga. 

Philadelphia —Released FB Rudy Har- 
ris. Put TE Anrke President on injured re- 
serve. 

ST. UHlis -Signed OL Orlando Pace to 7- 
yeor contract. 

SAN die bo -Released T Robert Boll K-P 
Wayne Boyer, LB Grant Carter. QB Tony 
Corbin, lb Joe DIBecnardo. FB Rodney Filer, 
S Sean Hamlet LB Anthony HJdte TE Wern- 
er Hippier. DE Pat Ivey. WR Damian John- 
son G Ron Lewis. WR Ray Peterson, WR 
Anthony Rodgers. C Bryan 5totienbe«g. CB 
NUcnocl swm and LB Chris Singleton. 

SEATTLE -Waived OT Robert Bora CBCot- 
tos Jones. QB Jim Aretianes. P Paul Burton 
WR Andre Cooper. OT Pete OiMarto, OE 
Nick GtonacnluteCB Alonzo Hampton G J 
I no. lb Le Vance McQueen and G Laity 
Maore.Waived DT Keif Bryant LB Tyrofl Pe- 
ters. TE Jamal Chirk. WR Robert Wilson. C 
David Kempfort and DT Pnt Riley. Put LB 
Jason Kyte WR Grayson Shilllngtard and RB 
Doug innocent on injured reserve. Put DT 
Henry McMUon S Tj. Cunningham and TE 
hull MS on physically unable to perform list. 

Tampa SAY —Put WR-KR Marvin /War- 
shaft T Stephen Ingram and G Brian New- 
mtm on Inlured reserve: Waived GSean Love. 
TE WWy Tate WR Gregory Spann WR NJto 
Silvan WR Chris Campbell FB Robert Stat- 
en. QB Jason Martin. PK Bjorn Nlttmo. DT 
Anthony DeGrate DT Patrick Garth, DE Is- 
rael Stanley, LB Mark Williams LB LaCurtls 
Janes LB Erfcfle Mason. CB □ iff Shorn burg- 
er, S Eric Austin, DE EmS Eklyor, S Todd 
Sartt CB Ftoyd Young. 

WASHlNOTOfl— Wahred P Larwi Anderson, 
CB Tomur Bonnes. LB Lorry Echote K Pete 
EtaBOvk, QB AAark Hartsell FB Jim IGtte DE 
Mark Lee, WR Bobby Oliver G Matt Reem 
DT Dwalne Robinson TE Dd 5 engraves and 
C Chris Sedoris. 

Moaarr 

NATIONAL HOCKEY LEAGUE 

calgary —Named Steve Smith assistant 
coach. 

edmokton— Signed D Kevin Lowe to mul- 
tiyear contract. 



Recruitment 

Appears every Monday 
mThelnlennarkrt- 
To advertise contact Nina 
in our London office: 

TeL: +44 171 4200325 
Fax: +44 1 71420.0338 

or yoor nearest IHT office 
or representative. 


i 






PAGE 20 


OBSERVER 


The Other Nantucket 


By Russell Baker 


N ANTUCKET. Massa- 
chusetts — It used to be 
when you took the ferry out to 
Nantucket Island you were 
really out of it. Absolutely 
nobody went there. Which is 
to say nobody who was any- 
body in New York or Wash- 
ington. 

That was part of its charm. 
There was the occasional heir 
from Philadelphia, the short- 
tempered millionaire from 
Cincinnati fuming into the 
martinis about the press's un- 
fairness to Richard Nixon. 
But you were gloriously re- 
mote from the tedium of polit- 
ical jabber and the chest- 
thumping of giants who 
merged Amalgamated with 
Consolidated. 

At the eastern end of the 
island a village of tiny fishing 
shacks had been gussied up 
for a small contingent of the 
summering white-shoe set 
and a few Broadway theater 
types, and in Nantucket town 
there was one good restau- 
rant. It opened only in sum- 
mer. 


Everybody who is anybody is 
here, except for those who are 
in the Hamptons of Long Is- 
land, Martha’s Vineyard. 
Block Island, Rehobo th, 
Delaware, and wherever the 
most vital people of Califor- 
nia congregate in August. 

Places like those and this 
are summer showcases of 
American wealth. 

At Nantucket’s airport 
once inadequate for anything 
much bigger than a puddle- 
jumper, private jets now 
come and go bearing captains 
of the boardroom to and from 
the cruel labors of merging, 
acquiring, downsizing and 
outsourcing. 


□ 


□ 


We are talking of an an- 
cient age when Nantucket 
closed its main shopping 
street every Sunday evening 
for a concert by the town band 
because the authorities 
thought visirors on Sunday 
nights would rather listen to 
Sousa than shop for T-shins. 

On the Fourth of July. 
Main Street was blocked to 
make space for races, games, 
water fights. It was renible 
for business, but nobody 
seemed to mind. It was the 
Fourth of July. Even business 
took a holiday. The Fourth of 
July was that’important! 

This summer when you 
make the trip out to Nantucket 
Island you are really in for iL 


There are less awesome 
evidences of the island's rise 
to grandeur in things as 
mundane as laundry. The oth- 
er day. for example, the com- 

f iuter was down at Holdgate’s 
sland Laundry, which meant 
that — yes, yes! — Nantucket 
now has computerized laun- 
dry. 

Nantucket, baby, you've 
come a long way from the 
time when people lugged 
their dirt}' clothes to a couple 
of dilapidated laundromat 
machines that were threaten- 
ing to fall into the harbor un- 
der Straight Wharf, which 
was also ‘threatening ro fall 
into the harbor. 

Brand new trophy houses 
big enough for 12-child fam- 
ilies now spread across island 
moors once notable for their 
solitude and bare oceanic 
beauty. The important thing 
now. as everywhere else in 
the country, is not just to let 
people know you've got it, 
but to do so with no silly 
pretense that you are humble 
about it. 

As the old television com- 
mercial said, if you've got it. 
flaunt iL 

.Vth Rwi Times Seruce 


Armenian Poet’s Tale Reconstructs a Tragedy 


By Dinitia Smith 

New tort Times Service 


H amilton, New York — 
Growing up in Tenafly, New 
Jersey, during the “strange sweet- 
ness of a privileged childhood," 
the poet Peter BalaJdan could feel 
beneath the membrane of subuifran 
life the indmarions of his family's 
ancient and exotic Armenian cul- 
ture and a dark and terrifying pasL 
On Sundays, there were the in- 
cense-filled, 1 ,500-year-old rituals 
of the Armenian church. There 
were oriental rugs on the floors of 
his family's house, while other 
children's houses had shag. There 
was Balakian's beloved grand- 
mother, Nafina. who baked choe- 
reg. Armenian shortbread, and told 
him strange parables and fragments 
of her violent dreams. 

But mostly Balakian lived the 
blithe existence of a suburban child, 
his life marked by the sports sea- 
sons, basketball, baseball, football, 
largely unaware of his family’s past 
and of the historical moment that 
has come to define it forever. 

Then, when Balakian was 23, he 
discovered 4 ‘Ambassador Mor- 
genthau's Story," a memoir writ- 
ten by Henry* Morgenthau, U.S. 
ambassador to Turkey from 1913 
to 1916. His hands sweating, he 
read this report of the massacre of 
more than a million Armenians by 
the Turkish government. Suddenly 
all the scattered memories of his 
childhood coalesced like the shards 
of a broken mirror. 

A year later came another stun- 
ning moment, when an aunt re- 
vealed to him the full story of his 
grandmother, whose first husband, 
parents, aunts, brothers, sisters, 
nieces and nephews were slaugh- 
tered by the Turks. His grandmoth- 
er, her first husband and their infant 
daughters were sent into the Syrian 
desert without food or water, to die. 
They were among the few who 
survived the death march, though 
her husband was later killed. 

The discovery of his family's 
past impelled Balakian. who is now- 
46 and a professor of English at 



J. i>t .i . -fc -U. Uk V. V. A Tim--* 

Peter Balakian, left, and ancestors who were killed on Aug. 1, 1915. His memoir tells their story. 


Colgate University in Hamilton, 
New York, to learn more about 
Armenian culture and history', and 
the events of 1915 to 1917. The 
results of his quest are chronicled in 
his memoir, "Black Dog of Fate." 
published in May. 

Balakian, the author of five 
books of poetry and a critical study 
of Theodore Roeihke, is pan of a 
group of third-generation Armeni- 
ans who have brought to the surface 
once again the facts of Armenia’s 
tragic history, events that have been 
overshadowed by the huge numbers 
killed during the Nazis' slaughter of 
the Jews three decades later. 

Carol Edgarian, in her 1994 nov- 
el "Rise of the Euphrates.’ ’ a mul- 
tigenerational saga, takes as her 
starting point the Turkish atroc- 
ities. Mark Arax. in his memoir 
about his father’s murder. "In Mv 


Father's Name," traces his fam- 
ily's violent history back to the 
massacres. 

The playwright Leslie Ayvazian, 
in “Nine Armenians," tells the sto- 
ry of a young woman whose family 
has always repressed memories of 
the genocide and who travels back 
to the newly independent Republic 
of Armenia as a relief worker. 

The Canadian filmmaker Atom 
Egoyan, in his widely praised 1993 
film “Calendar," tells the story of 
a young Armenian photographer's 
return to Armenia to take pictures 
of old churches for a church cal- 
endar, for many Armenians one of 
their few links to the culture. 

At the heart of their work is a 
search for justice and acknowledg- 
ment "L needed to tell a family 
story that came to haunt me as an 
adult ' ’ Balakian said of his memoir. 


"to chart the affirmative, powerful 
and beautiful parts of ray growing 
up and” — referring to the 1915 
massacre — * ‘this enormous, major 
moral event of the 20th century." 

The Armenian culture has roots 
in Anatolia and the Caucasus 
stretching back 2.500 years. The 
Armenians were a cosmopolitan 
people with strong ties to the Hel- 
lenic world, and as traders they 
traversed the globe from Shanghai 
to Amsterdam to India. They were 
the Ottomans" architects, famous 
for the sensuous carvings of their 
churches as well as for their tiles, 
their rugs and their lace. 

Along with Greeks and Jews, 
.Armenians constituted a large part 
of the intellectual and financial in- 
frastructure of the Ottoman empire. 
They were often resented by the 
Turks because they were Chris- 


tians. better educaied, wealthier 
and Westernized. Like Jew's, .Ar- 
menians were in many places for- 
bidden to own property, so they 
frequently became bankers and 
money lenders, and like Jews they 
w ere despised. During successive^ : 
waves of persecution they dis^ 
persed throughout the world, aiid 
today the Armenian diaspora ex^' 
tends from Australia to Jerusalem. ; 
Armenians sealed on the farms 
vineyards of California, and more 
recently many poorer immigrants ; 
from the former Soviet Union have . 
settled in Los Angeles. 

With the outbreak of W odd War - 
L the Turkish government that had 
replaced the old theocracy saw the - - 
Armenians as a security threat and 
collaborators with the Russians. As 
part of a systematic plan bfex--- 
temrination. the Armenians say,, 
two-thirds of the Armenian people 
were killed, deported or sent into' 
the desen to starve. 

The Armenian massacre was- 
widelv chronicled in the press. In 
The New York Times of Feb. 6, 
1916, a headline said. “Babies 
Thrown Into Rivers. ' * The next day ri f j. ' 
a headline told of a "Great Plain! 
Black With Refugees." Another 
headline, on the following Aug. 21. 
read. **500,000 Massacred." Still 
another, on the same page, read, 
“Begged to be Buried Alive." 

To this day, the Turkish gov- 
ernment disputes that genocide 
took place. “Armenians are afraid 
of knowing more about historic 
events,” said a spokesman 
Turkish Embassy in Washington 
identify 


♦ 



Irrin’ 


I ■' 


I 


who asked not to be identified. 
“We admit there was a tragedy ai 
the end of World War I, but it was 4 
wartime period.” 

Balakian has protested attempts 
to suppress the Armenian story. - ; . 

"The Armenian holocausr de- 
serves to take its rightful moral 
place in history," said Balakian. 
"For a generation for whom there 
could be no justice, the pain is 
compounded by the evil of denial. 
There is always a period of delay 
after a trauma. But now we are ata 
moment of threshold." - 


fith > 


Si*** " 



jpjjjiknrr.- _ ■ _ 

-I"”- • : 1 


In ITS Part- 


FLYING ADS 


PEOPLE 


Between the Wind and Water, Banner Days at the Beach 


By Ken Ringle 

Washiimton Past Sen ice 


O CEAN CITY. Maryland — This is your 
captain speaking. We are currently 300 
feet above the queen city of mid-Atlantic 
beach culture in the little red plane next to the 
one pulling the banner advertising the bikini 
fashion show at Hooters. Our aircraft is a 
radial-engine, open-cockpit Waco biplane 
that looks like something conjured up by the 
Red Baron. 

We knew you wondered what lurks in the 
hearts of those intrepid sign-pullers winging 
their way through summer, out over the surf 
line, looking down for glimpses of full-frontal 
sunbathers or great white sharks grazing 
among the surfboards. 

What do they think about when they're up 
there? 

"Aerobatics!" says Gina Moore, 27. a 
Tennessee stunt flier who, her colleagues say, 
has spent more flight time upside down than 
right side up and tows a banner boosting 
Wockenfuss taffy. 

“Women!" says Dave Carper, 32, uni- 
formed in a “WU1 Work for Sex" T-shirt 
whose banner touts a band called Love See 
Mama Jump at the Hurricane on 68th Street. 

"Fun!" shouts biplane pilot John 
McLaughlin, 45, over the Waco’s engine 
racket and wind rush. 1 ‘We’re all having more 
fun than we ever had in our lives." 

McLaughlin, a rakish Inverness, Florida, 
hospital pharmacist, has put aside pill-pushing 
for the summer to barnstorm the boardwalks 
between Assareague Island and Delaware Bay. 

He and the others are pan of an 1 1-plane air farce 
operated out of a Berlin, Maryland, chicken farm by 
a former high school agriculture teacher. Bob Bunt- 
ing. For the past 17 years Bunting has found ad- 
ditional egg money — and no end of amusement — 
in tow-plane aviation. 

On any summer weekend his ragtag crew of 
pilots may fly 80 or more half-hour message mis- 
sions. They advertise restaurants and nightclubs 
and lovesick suitors (Deanna Will You Many Me 
Please? Love Jimmy) at $75 to $295 a pop. 

That’s not counting the biplane rides — $55 for 
1 0 minutes to $ 1 50 for half an hour. 

“People come up here in the biplane and they're 
astounded to see how narrow Ocean City is," 
McLaughlin says. “The whole island's only about 
three blocks wide. They find that sort of scary. And 
these are people, most of them, who have absolutely 



surfboard about a mile south of the Fenwick 
Hotel? Check it out!" 

The staging ground for Bunting's Ocean 
City air force lies west of here and several 
generations removed from the technocratic 
impersonality that cloaks much of commer- 
cial aviation. It rather resembles a summer 
camp. 

When Bunting mustered his troops at 8 one 
recent morning they included his niece Laurie 
Bunting. 19. and her 16-year-old brother. Ral- 
ph; Dan Moore, 24, a theology graduate from 
Wisconsin training to fly missionaries in In- 
donesia: Debbie Dulles, 24, of Snow HilL who 
moonlights as a waitress in a nearby inn. and 
Anthony ("I'll be 15 in two days") Rhode, 
who had braces on his teeth and a fondness for 
aerial work breaks on the nearby Bunting 
trampoline. 

Everybody showed up in shorts looking 
slightly disheveled. 

The 16 regulars began sleepily pushing 


planes out of the hangar, piecing together 
bamu 


Lirn Voni^/Thr ^Mhinpiin Po«i 

Biplane and message taking off from Berlin, Maryland. 


no understanding what a hurricane can really do." 

But you'll have a hard time holding that par- 
ticular thought In an era when most people fly 
sealed in a giant tube, there is something redeeming 
about an open-cockpit biplane. It may be the only 
perfect way to experience Ocean City: above the 
noise and the traffic and the T-shirt shops and the 
smell of- coconut sunscreen and stale hot pretzels; 
above Tattoo Charlie's and Shock Value Body 
Piercing and Bahama Mama's and the miniature 
golf course built around gianr plastic icebergs. With 
the wind in your face you transcend the Cloudbreak 
Surf Shop {"Hot Deals on Cool Stuff") and Big 
Pecker’s Bar & Grill and the Bearded Clam and 
look out instead on the pellucid waters of As- 
sawoman Bay. 

“Hey, Dave! ’ ’ crackles the radio from one of the 
tow planes. “Did you catch that chick on the 


ers and racing around on an impressive 
collection of fat-tired three- and four-wheel 
motorcycles, golf carts and even a miniature 
eight-wheel John Deere dump truck. Trading 
insults all the while. 

While many of the banners towed by Bunt- 
ing's Ocean Aerial Ads Inc. remain the same 
week after week, most are put together or 
updated daily from a stock of some 5,000 
nylon letters, numbers and symbols housed in 
the handsome white bam that sheltered horses 
and mules in the days before airplanes. 

A cheerful forty ish woman named Sandra 
Jones presides over the assembly process, 
while Rhonaa Hancock, 21, and her sister Ericka, 
both of Salisbury, Maryland, buckle the letters 
together and strengthen fraying E's and S’s with 
duct tape. It's past 10 before Chris Bemath lifts off 
in his red-and- white Piper Super Cub. 

The banner says HAPPY 42d BIRTHDAY 
MARC and Chris wings away through the haze 
toward "some blue umbrellas on the beach north of 
the boardwalk in Rehoboth." 

“Personal" messages like Marc's are only about 
5 percent of his sign business, Bunting says, bur 
they’re the most fun. Most are birthdays, an- 
niversaries or proposals, bur the one he remembers 
most said something like HONEY PLEASE FOR- 
GIVE ME I'M REALLY, REALLY SORRY. 

“That guy must have really screwed up," Bunt- 
ing says thoughtfully. “We didn't just fly that once. 
We flew it a Tol" 


T HE couturier Jean- 

Charles de Castelbajac 
has apparently upset conser- 
vative Catholics by using a 
rainbow on clothing he de- 
signed for the Worfd Youth 
Festival, which opened Tues- 
day in Paris. With the rain- 
bow emblazoned on the robes 
of Pope John Paul II. who 
will lead a Mass for up to 
500,000 people on Sunday, 
and adorning the festival's T- 
shirts, bandannas, hats and 
umbrellas, church officials 
defended the use of the 
design, which resembles a 
symbol of the gay rights 
movement Homosexuals 
“did not invent the rainbow, 
and it is not the same rain- 
bow." said Bishop Michel 
Dubost. chief organizer of 
the youth festival. Castelba- 
jac. a devout Catholic, was 
asked by the Archdiocese of 
Paris to design the ceremonial 
robes for the youth evenL His 
signature rainbow design has 
stripes of green, blue, red, or- 
ange and yellow, each color 
representing a continent The 
5,000 priests attending the fi- 
nal Mass on Sunday will wear 
crosses of the different colors 
on their sleeves. Castelbajac, 
who has dressed stars from 
Lauren Bacall ro Elton John, also used his 
rainbow design for the festival's sportswear 
and a crucifix. Sales of the items are expected 
to cover one-fifth of the festival 's budget. 

□ 

The Rolling Stones will begin a yearlong 
concert tour in Chicago next month, with 
stops planned in North and South America, 
the Middle East India and Europe. Mick 
Jagger and friends announced. Several top 


Lons-Kan-' 

Ramifefr- 

Is Unclear 



/•U 


Ballerinas taking refuge from the sun in London. 


break sporting sun-kissed bodies. "We 
simply cannot have roasted swans." the bal- 
let's artistic director, Derek Deane, told the 
dancers, asking them to stay indoors or wear 
hats and sunblock outside. 


□ 


Anthony Quinn settled his divorce case 
Tuesday, just hours after one of his sons 
testified that the actor had abused his wife,. 

_ r Iolanda, during their 31 -year marriage, 

bands, including Sheryl C row and Smashing Quinn. S2. a two-time Academy Award win- . 
Pumpkins, have agreed ro open some shows ner. was accused in court of hitting his wife » 

"" "tq~a n_u..i • • and shouting obscenities. Danny Quinn, 33. 

testified that he never tried to stop the abuse of 
his mother because he was young at the time 
and thought that if he tried to interfere or call 
police, “My father would have killed me." 
Terms of the settlement were not disclosed, 
but a lawyer for Mrs. Quinn said she was 
“veiy satisfied. She doesn't want to gloat, but 
she’s very happy." 


on the "Bridges to Babylon" tour. 

□ 

Dancers with the English National Ballet 




have been told to lose their suntans because 
their bosses fear they will look more like 
lobsters than swans for a forthcoming pro- 
duction of ' * Swan Lake. 1 ’ The order went out 
as the troupe reassembled after a five-week 



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AT&T Access Numbers 


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almw '-ouriume. 


EUROPE 

Austria *o 

. 022-903-811 

Belgium*. 

0-800-100-10 

France . 

0-80 8-99-8011 

Germany. 

0130-0010 

Greece* 

00-800-1311 

Jrelando 

1-800-550-000 

Italy* 

. 172-1011 

Netherlands* 

0800-022-9111 

Russia **|Moscowp 

755-5042 

Spain 

900-99-tKHI 

Sweden. 

020-795-611 

Switzerland* 

0600-89-8011 

United Kingdom* 

B5OO-89-O011 


0800-89-0011 

MIDDLE EAST 

Egypt*(Calro)» . 

510-9200 

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177-1M-2727 

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... .1-000-10 

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0191 

South Africa 

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