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The Worlds Dally Newspaper 


Loudon, Thursday, December 4, 1997 

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In Kyoto, Greenpeace 
Meets Its Darth Vader 

Lobbyists for Bigger and Better Emissions 
Question Whether Global Wanning Exists 

By Kevin Sullivan 

Wntoigron Post Service 

KYOTO, Japan — JJR- Spradley 
Jr., a Washington lawyer in a nice 
suit, a sharp haircut and tasseled 
loafers, is the kind of guy who makes 
environmentalists crazy. He tells 
them that there is no scientific proof 
that global wanning exists, that it’s 
the “emperor’s new clothes" and that 
what they’re trying to do at this 
week’s global climate conference 
threatens to “wreck the entire world 
economic system-" 

Mr. Spradley is a paid consultant 
for a major electric power-producers 
organization. He is also one of more 
than 800 registered industrial lobby- 
ists here this week, working hard to 
derail an international global warm- 
ing treaty that environmentalists say 
is critical for the Earth’s future. 

In this conference hall full of en- 
vironment ministers, environmental 
activists, recyclers, bicyclists, solar- 
powered coffee-makers, windmill en- 
thusiasts and a young English fellow 
who lived in a tree bouse for three 
months to protest a shopping mall 
development that threatened a forest, 
Mr. Spradley is about as popular as an 
alligator in a wading pool He knows 
that to environmentalists he’s a bad 
guy, but he says that industry’s mes- 
sage needs to be heard. 

“How many people were follow- 
ing Moses when he started? And there 
was only one guy saying the Earth 
was round in the beginning: it’s noth- 
ing to be ashamed of," said Mr. Spra- 
dley. who represents the Edison Elec- 
tric Institute in Washington. 

Delegates from more than 150 
countries are gathered in Kyoto this 
week with one main goal in mind: to 
do something about global warming. 
While there is wide disagreement 
about the extent of the problem and 
the best way to combat it, there is a 
broad consensus among countries 
from the South Pacific to the Arctic 
Circle that some kind of treaty is 
needed from this 10-day conference. 

There is also an understanding, 
which is driving huge lobbying ef- 
forts on ail sides of the question, that 
what happens here could affect the 
shape of energy production and use 
for decades to come, and the global 
climate forever. Billions of dollars are 
at stake, thousands of jobs stand to be 
made or lost and lifestyles around die 
world could improve or decline be- 
cause of the action taken in Kyoto. 

The conference is about as 
“green’ ' an event as is ima ginab le, an 
environmentalists' paradise. Every 
piece of paper is recycled stock and 
video screens drone on endlessly 
about the dangers of climate, change. 
Environmental scientists and activists 
from around the world, many of them 
dressed in khakis and baggy sweaters, 
hold forth with stacks of statistics and 
research papers. Local hotels tout 
their own environmental awareness, 
asking guests to reuse towels to cut 
down on die use of detergents in the 
laundry. Even the young Japanese 
workers offering information and di- 
rections to the conference hall toilets 
wear bright green jackets. 

It’s not a crowd that thinks much of 

See CLIMATE, Page 4 

Reno Averts 
The Worst 
For Clinton 

White House Doesn’t 
See End of t Discussion 9 
On Campaign Funds 

By David S. Broder 
and Peter Baker 

Washington Post Service 

WASHINGTON — Even before the 
decision was announced. President Bill 
Clinton issued strict instructions to his 
chief of staff on how the White House 
should react if Attorney General Janet 
Reno rejected an outside investigation 
into fund-raising calls: “People should 
not be gleeful." 

With good reason, according to 
politicians and analysts in both parties. 
By declining Tuesday to seek appoint- 
ment of an independent counsel, Ms. 
Reno spared Mr. Clinton and Vice Pres- 
ident Ai Gore a potential disaster. But 
the controversy surrounding the financ- 
ing of their 1996 campaign seems likely 
to dog Mr. Clinton for the remainder of 
his presidency and still threatens Mr. 
Gore's bid to succeed him. 

“I frankly don’t think this matter 
ends,” said the White House press sec- 
retary, Michael MeCurry. 

“H will continue to be a subject of 
discussion," he said, adding that the 
issue remains a matter of inquiry for the 
Justice Department. “It will continue to 
be a source of partisan political attacks 
on the president and continue to be an 
item which some news organizations 
choose to investigate. I mean, I don’t 
think anything is going to change much, 
to be candid.” 

The dour assessment of what was 
otherwise welcome news grew in part 
out of the realization that even without a 
rutor, by its own count the 

White House is under investigation on a 
variety of fronts by no fewer than 20 
Republican-led congressional commit- 
tees or suboo mn dti® es * 

But after thousands of hours of in- 
vestigation, Ms. Reno said there was no 
reasonable basis to believe that Mr. 
Clinton or Mr. Gore had violated a 
century-old law against campaign fund- 
raising on federal property. Although 

A Humbled Nation Accepts 
Fund's Largest-Ever Rescue Plan 

only last yea 
joined Ihe C 
iib of advano 

By Andrew Pollack' 

New York Times Service 

Propping Up 

IMFJed aid packages for Thailand, 
Indonesia and South Korea in 
1997 writ dwarf 
the $50 biHfon 
bailout of 

S. Korea 

IMF aid: S55 billion 

Won vs. the dollar, 
percentage change stoar 
Jan. 2. 1997 

Knjae HwWAgrtw Fnito-ftuar 

Mr. Iim and Mr. Camdessus oo their way Wednesday to meet President Kim. 

SEOUL — South Korea agreed to 
terms -on Wednesday for. the largest in- 
ternational economic rescue ever — a 
$55 billion loan package that should 
help die heretofore fast-growing nation 
pay its debts, but at the cost of its pride 
aid autonomy. 

After several days cif tense negoti- 
ations in which an agreement seemed to 
slip out of reach, the Intern ational Mon- 
etary Fund, the leader Of die bailout, 
said it would provide Sooth. Korea with 
$21 billion in standby credits. The 
World Bank promised to provide $10 
billion and die Asian Development 
Bank $4 billion. 

The United States and several other 
nations agreed to provide an additional 
$20 billion if the initial money from the 
international organizations proves in- 
sufficient. Some $5 billion will come 

' IMF funds, already strained, face 
■ singular pressure. Page 13.-' 

from the United States, SlOfrillion from 
Japan, and the rest from Australia, Bri- 
tain, Canada. France, Germany and pos- 
sibly others. 

The managing director of the IMF, 
Michel Camdessus, who arrived here 
Wednesday morning to complete die ne- 
gotiations, called the plan “a strong eco- 
nomic program that provides for a de- 
cisive and welcome response to- the 
country’s present financial difficulties.'' 

But for South Korea, which grew 
from an impoverished nation to the 
world's 1 1th- largest economy, it 
marked the humbling end of the eco- 
nomic miracle and the beginning of a 
period of what President Kim Young 
Sam has described as “bone-carving 

By Celesttne Bohlen 

New York limes Service 


No one “exonerated," Reno said. 

both officials made calls from the White 
House, Ms. Reno said the law did not 
apply because the calls either were 
made from residential areas, did not 
involve specific solicitations or did not 
raise actual campaign money. 

She declared drat the final determi- 
nation was hers alone and that she was 
not influenced by politics or any outside 

The attorney general emphasized that 
her finding was limited to the question 
of telephone solicitations. 

“Any decision not to ask for an in- 
dependent counsel does not mean that a 
person has been exonerated or that the 
work of the campaign finance task force 
has ended," Ms. Reno said, vowing, 
“We will continue to vigorously inves- 
tigate all allegations of illegal activity." 

There was also a political catch. 
While Ms. Reno found no reason to 
trigger the independent counsel statute, 
the director of the FBI, Louis Freeh, 
made known bis disagreement with that 
judgment, handing Republicans and 
other critics a tailor-made argument to 
dismiss her move as partisan. 

Within minutes of ber announce- 
ment, Ann McBride, president of the 
self-described citizens lobby Common 
Cause, upbraided Ms. Reno for “aim- 
ing a deaf ear" to the head of the na- 

See INQUIRY, Page 8 . 

ROME — Silvio Berlusconi, the 
former Italian prime minister, was con- 
victed Wednesday on charges that he 
falsified the price of a film company that 
was bought by his Fininvest company in 

Mr. Berlusconi, a media magnate 
who is the leader of Italy’s center-right 
opposition, was sentenced to 16 months 
in jail, which he will not have to serve 
under an Italian law that suspends most 
prison terms under two years. Mr. Ber- 
lusconi will appeal the verdict, and his 
political allies immediately issued pub- 
lic statements of support 

Still, the conviction, handed down by 
a court in Milan, marked the first con- 
clusion of a string of court cases faced 
by Mr. Berlusconi and his business as- 
sociates on charges ranging from pay- 
ment of bribes to creation of illegal 
slush funds. 

It also comes at a low moment for his 

center-right coalition, known as the 
Freedom Alliance, which has just taken 
a beating in local elections held across 
Italy this month. The center-right’ s poor 
showing in several major cities, from 
Venice to Palermo, has only raised new 
doubts about Mr. Berlusconi's leader- 
ship of a coalition that had already 
showed signs of fraying at the edges. 

It has been three years since Mr. 
Berta scorn's seven-month old govern- 
ment, hailed in its day as a fresh start for 

step back with recent statements that he 
would not offer himself as a candidate 
for prime minister in the event of new 
elections. But with predictions that 
Italy’s center-left government, headed 
by Prime Minister Romano Prodi, is now 
set for a long period of stability, the next 
national elections seem a long way ofif. 

Mr. Berlusconi has long claimed that 
he has been the victim of a vendetta by 
Milan’s public prosecutors, who he 
claims have used their judicial powers 
Italian politics, collapsed, paving the to further political ends. In a statement 
way for the election m April 1996 of carried Wednesday night on one of 
Italy’s first popularly elected center-left Italy’s three Finin vest-controlled sta- 
tions, Mr. Berlusconi called the Milan 
conn’s ruling * * incomprehensible, ’ ’ 
saying it was proof of the prejudice 
against him. 

In contrast to the Berlusconi channel, 
which buried the news item deep in its 
evening broadcast, one of the state- 
owned channels gave it prominent men- 

iy s first popularly elected center- 

In the last year, many of Mr. Ber- 
lusconi's political supporters have 
privately admitted that the conflict of 
interest between his business empire, 
which includes television stations, 
sports teams and supermarkets, and his 
political ambitions has become a li- 
ability, particularly as his judicial dif- 
ficulties increase. 

Mr. Berlusconi himself has taken a 

See ITALY, Page 8 

Gorbachev Raises Dough at Pizza Hut 

By Ales sandra Stanley 

New York Times Service 

MOSCOW — The last leader of the 
Soviet Union was unable to prevent 
the collapse of communism. So now 
be has conspicuously taken his place 
on the winning side. 

Mikhail Gorbachev, 66, has shot a 
commercial endorsement for Pizza 
Hut. Mr. Gorbachev agreed to sit 
down at a table with his granddaughter 
in the Moscow outlet of Pizza Hut and 
pay tribute to capitalism and its greasi- 
est offshoot: American test food. 

Mr. Gorbachev said be was not ex- 
actly sore how much he was being 
paid, fan some reports indicated his fee 
was close to $1 million. 

Explaining that he badly needed the 
money to finance his' foundation, a' 
research institute that bears bis name, 
Mr. Gorbachev said in an interview 
Tuesday that he bad declined many 
other offers to endorse products -but 

made an exception for Pizza Hut 

“I thought that it is a people’s mat- 
ter — food,’’ he said. “This is why if 
my name works for the benefit of 
consumers, to hell with it — I can risk 

The script is deferential: indeed, it 
could be viewed as Mr. Gorbachev’s 
ultimate fantasy. He arrives by lim- 
ousine at a Pizza Hut and some patrons 
notice him. An older man grumbles, 
“Because of him, we have economic 
confusion." A younger man dis- 
agrees, saying, “Because of him we 
have opportunity." 

Patrons continue to argue, until an 
older woman pipes up, “Because of 
him we have things like Pizza Hut." 
The patrons rise and give a standing 
ovation to their former leader, holding 
pizza slices aloft in tribute. 

Mr. Gorbachev responds with a dig- 
nified smile. He does not actually eat a 

See GORBACHEV, Page 8 

Ed EflgfcVTbe Aao&kdPra 

There are no plans to broadcast 
Mr. Gorbachev’s ad in Russia. 

Canada Peddling Troubled Reactors Round the World 

4 Nuclear Units Are Forced to Close in Ontario Over Maintenance Problems, bid Sales Continue 

Newsstand Prices 

Bahrain 1.000 BO Malta 55 c 

Cyprus -C Nlgeaa.,.1SB00 Naira 

rjaruro/k »."1AOO DKr Oman 1.250 OR 

SSS_„12J)0FM Qatar 10.00 OR 

nix-har £0.85 Rep. Ireland. JR £ 1.00 

Great Britain -* 0 - 90 SaudiAraWa....10SR 
STI..CE5.50 S. Africa. ...R12 + VAT 

1.250 JD UAE. 10-00 Dh 

Sm . Sa 160 U.S. Mi. (Eur.J ...S 120 
SJg L .700 FBs ZMHfaw.- Zni$4Q-Q0 

By Anthony DePalma 

New Yurt Times Service 




TORONTO — On the blustery shore of Lake 
Ontario, in Canada’s most heavily populated region, 
four elderly nuclear reactors bedeviled by leaks, fail- 
ures and operators who sometimes drank beer or 
smoked marijuana on the job are being shut down 
because they cannot be safely run by eras of the largest 
utility companies in North America 
At the same time, workers are busy excavating a 
huge site in China, about 95 kilometers (60 miles) 
south of Shanghai, where two Canadian reactors sim- 
ilar to the troubled ones in Canada are being built 
under Canadian supervision. 

The four reactors on Lake Ontario, along with three 

more farther north on the edge of Lake Huron, are 
being mothballed because their operator, Ontario Hy- 
dro, acknowledged last summer that it does not have 
the money or the proper management to run diem 

The basic design of the Canadian reactors is unique. 
Although they ate simpler than American-type re- 
actors to build, experts now agree that they are for 
more complex to keep running safely. Maintaining the 
units has put enormous demands on Canadian op- 
erators with solid technical backgrounds and access to . 
the latest equipment and designs: 

For die last 40 years, however, the same type of 
Canadian -designed and built reactors has been sold to 
countries around the world, including Romania, India 
and Argentina, that have for less money or technical . 

expertise than Canada and already are struggling to 
keep (he reactors safe. And because .the reactors are 
unlike any others, the number of qualified operators 
and knowledgeable inspectors is limited. 

The reactor in Argentina is regularly shut down to 
repair leaking pipes, and heavy water leaks at die 
reactor in South Korea have occurred so often that the 
operator, Korea Electric Power Corp., has ordered 
olant workers to wear masks packed with iceto block 

Th e dosing of seven of Ontario Hydro's 19 op- 
erating reactors has underscored the difficulties that 
Canada itself has had in keeping the reactors ru nning 
safely. It has also raised questions about Canada’s 

See REACTORS, Page 8 

pain.*' It was only last year that South 
Korea proudly joined The Or ganiz a t ion 
for Economic Cooperation and Devel- 
opment, the club of advanced nations. 

“I have come here to beg the for- 
giveness of the Korean people, * the 
finance minis ter*. Lim Chang Yuel, said 
in a nationally broadcast sp eech Wed- 
nesday night “Please understand the 
necessity of die economic pain we must 
bear and overcome.’ ’ 

South Korea is the latest and largest 
of the so-called Asian tiger economies 
to fall 'victim thus year to sharp de- 
valuations of its currency and soaring 
debts. The amount of money available 
to Korea is larger than the $17 billion 

See KOREA, Page 8 

On Chaebol: 
Change Now 
Or Break Up 

By Don Kirk 

• ' . Special io the Herald Tribune ■ 

' SEOUL — From the black-suited ex- 
ecutives in lavish suites of South 
Korea's leading conglomerates to die 
white-shirted salarymen working at the 
seas of desks on the floors below, the 
reaction Wednesday to news of toe IMF 
emergency loan was toe same: How 
could a group of foreigners here for just 
a few days dare challenge all they had 
fought to build for two generations since 
the Korean Wat? 

The huge conglomerates of Sotito 
Korea Inc.-, the engines that built the 
world’s l Ith-largest economy, believe 
they have been targeted fen- dismantling 
by foreign forces. 

“Dissolving chaebol, an integral part 
of Korea’s traditional culture, is tan- 
tamount to turning our national economic 
foundation over to advanced countries; ’ 
said a spokesman for Samsung Group as 
toe Internationa] Monetary Fund agree- 
ment was announced Wednesday. 

“We are afraid of what they are do- 
ing,” said Lee Gong Gyu, a section chief 
in the headquarters of toe Hyundai group 
of companies, a vast chaebol, or con- 
glomerate, which started as a side-street 
garage and grew into an empire of more 
man 40 companies that construct 
everything — as its ads proudly pro- 
claim — “from chips to ships.” 

“We know toe IMF is urging 
soroething,”Mr.Leesaid “The chaebol 
is going to have to change to survive.” 

Survival is indeed an issue for many of 
toe chaebol Companies from eight of toe 

protection this yearfseveral other cEae^ 
bol are widely believed to be in danger. 

Just what toe IMF wants South Korea 
to do about toe country’s mighty chae- 
bol is for from clear, however. Details of 
the agreement have yet to be revealed. 

Kim Young Sop. senior presidential 
secretary for toe economy, insisted 
Wednesday that there was “no discus- 
sion of toe dismantling of conglomerates 
or toe forcible merger of banks.” Such 
assurances, however, did little to counter 

See CHAEBOL, Page 8 


U.S. Exporters 
Hit by Asia Crisis 

ican manufacturers and farmers are 
starting to feel the consequences of 
toe financial problems in Asia, toe 
Federal Reserve said Wednesday. 

The Asia crisis had “adversely 
affected demand” for exports, the 
survey said, in the first evidence of 
the effects of the Asian crisis on the 
U.S. economy. Plage 14. 




Page 12. 
Page 11 . 



. — Pages 6-7. 
-- Pages 20-2L 


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Crime / Busman's Holiday of a Lunch 

Society of Armchair Sleuths 
Picks at Unsolved Mysteries 

By Ronald Smothers 

New York Times Service 

P hiladelphia — Amid the cheny 

wood paneling and 17th-century Eng- 
lish-style elegance of the Grill Room of 
the Downtown Club here, about 80 men 
and women were gathered over lunch to discuss 
and dissect a brutal unsolved murder of IS years 

The case involves a girl between 14 and 18 
years old, whose decomposing body was found 
in a ravine alongside a cemetery in Blairstown, 
New Jersey, in summer 1 982. She was wearing a 
red V-neck pullover and a red, white and blue 
print wraparound skirt with a peacock motif 
along the borders. Around her neck was a gold- 
colored c hain with tiny white beads and a 14- 
karat gold cross. Her face had been bludgeoned 
beyond recognition with a blunt object 
The girl has never been identified. No weapon 
was ever found, and no arrest ever made in the 
killing, which became known as the Princess 
Doe case. 

The lawyers, former prosecutors, current and 
former federal agents and forensic specialists 
had gathered to toss out ideas for new ap- 
proaches in the case; suggest scientific tests that 
might shed new .light, reorder the facts to chal- 
lenge the obvious and speculate on a psycho- 
logical profile and possible motive of a killer in 
the slaying in rural Warren County. 

It was a meeting of the seven-year-old Vidocq 
Society, a private group that meets every other 
month ana takes on unsolved murder or dis- 
appearance cases from around the United States. 
In many instances, the trail has grown cold. But 
in others, the group assists the local authorities 
who are still investigating or, at the request of 
victims’ families, provide ideas for faltering 

This is not a gathering of a ragtag bunch of 
Baker Street Irregulars playing dutiral amanu- 
ensis to Sherlock Holmes’s genius. Nor are they 
a bunch of good-natured Archie Goodwins, 
filling the role of narrator and legman to the 
sedentary but brilliant Nero Wolfe in the mystery 
novels of Rex Stout. 

It is a group that collectively has hundreds of 
years of crime-solving experience. Their gath- 
erings are a busman's holiday for people who 
concede that they just cannot help taking their 
work home with them. 

Already, they have quietly assisted on about 
100 cases, resulting in some arrests and con- 
victions. More often, their involvement has prod- 
ded investigators into new ideas and approaches. 

The group is named for Eugene Francois 
Vidocq, a rakish 19th-century cnminal-tumed- 

detective who helped start, and later headed, the 
first detective squad for the Paris police. 

Vidocq was a master of disguise, a fan of 
scientific tools in crime solving and a devotee of 
strict organization. He has been credited with 
introducing undercover work, ballistics testing 
and extensive record keeping into police work, 
and is thought to have been the inspiration for the 
detective Dupin in Edgar Allan Poe’s “Murders 
in the Rue Morgue." He is so much a part of 
French popular culture that he was the subject of 
comic books and a television cartoon series in 
the 1960s. 

The Vidocq Society was started by William 
Fleisher, a farmer police officer and FBI and 
Customs Service agent who is now a polygraph 
expert; Frank Bender, an artist and forensic 
sculptor, and Richard Walter, a nationally 
known forensic psychologist who works with 
the Michigan Department of Corrections. 

The combination makes for some odd chem- 
istry in crime solving, as Mr. Fleisher’ s meth- 
odical approach and bulldog tenacity mixes with 
Mr. Bender's intuitive, artistic sensibility, and 
Mr. Walter’s wide-ranging mind, which 
searches for underlying patterns. 

1 The three of us sat down for lunch one holiday 
and were lacking old cases, solved and unsolved, 
back and forth, and the next thing I knew it was 
dark outside." said Mr. Fleisher of the men’s first 
meeting. “I suggested that we get a bunch of other 
people with similar interests together and do this 
more often. I sent out 28 letters and 26 people 
wrote back that they were interested.” 

T oday, foe society has 82 regular mem- 
bers, matching the life span of its name- 
sake, and more than 100 associate mem- 
bers, a designation created to 
accommodate foe wide interest in joining foe 
group. The three co-founders recently optioned 
the rights to their lives and the society's story to 
a Hollywood production company that is de- 
veloping a script for a movie. 

For members like Jeffrey Miller, a local de- 
fense lawyer and former federal prosecutor, it is 
"an exciting, fraternal group, not your normal 

gray lawyers’ group.” 

aids law enforcement agencies, he said, 
which are often too busy with new cases to focus 
on cold cases, and comforts families trying to 
come to grips with foe fate of a slain or missing 
loved one. 

"And because we aren’t doing this as some 
competing law enforcement agency but as a 
private group," said Joseph O’ Kane, foe group's 
executive director and a customs agent, "there is 
little resentment from other investigators when 
we get involved. What we have found is that 

L- 1 > IWnifc/Tb- Nm. Yrofc Tlmr. 

Frank Bender, a forensic sculptor and one of the three co-founders of the 
Vidocq Society , in his studio with a reconstruction bust of a crime victim. 

some cases can be solved rather easily with foe 
concentrated expertise we can bring in.” 

The group is credited by a Lubbock, Texas, 
assistant district attorney with buoying demor- 
alized investigators in the 1991 disappearance of 
a car stereo installer, Roger Scott Dunn, and 
providing the expert help that led to a murder 
conviction in the case. 

Theresa Baus, the sister of a Little Rock, 
Arkansas, restaurant manager murdered in 1 99 1, 
said foe society’s work helped acquit a suspect 
who she and other family members felt was 
innocent, assuaging their fear that ‘‘foe con- 
viction of the wrong person would forever pre- 
vent foe capture of foe right person.” The killer 
re mains at large. 

The society suggested eight years after the 
1984 murder of a shoeless and sockless Drexel 
University student that the police consider foot 
fetishists. That led to the arrest and conviction of 
a former security guard who had been dishon- 
orably discharged from foe military for stealing 
women's sneakers. 

Over coffee and dessert at foe lunch, Mr. 
Bender, foe sculptor, recalled what was known 
about foe Princess Doe case, presenting vivid, 
slides of the battered and decomposed head, and 
showed a picture of a bust he bad nwfa, for 
which he had reconstructed her appearance. He 
also introduced several tidbits of evidence that 
might contribute to a profile of a suspect. 

Joining the presentation was another member 
of the society, Dr. Haskell Aslan, a forensic 
odontologist who has sought to match foe body’s 

teeth with the dental records of more than 30 
missing girls. 

Mr. Walter, foe forensic psychologist, called 
the crime “power assertive rather than sexual 
based largely on its brutal nature. It was "about 
dehumanizing her, talcing away ber face,” he 
said, adding that he thought that killers of this 
type consider themselves "super- John Wayne 
types and see themselves as superior to others.” 

Throughout foe meeting, members commen- 
ted from foe floor as others made presentations. 
Some went with the momentum of Mr. Walter’s 
analysis and built upon iL Others, like Donald 
Weinberg, a humanities professor at Community 
College of Philadelphia, challenged Mr. Wal- 
ter’s often neat constructions and tried to rein in 
Mr. Bender’s intuitive leaps. 

“Our client is justice here,” Mr. ‘Weinberg 
said. “We're not here to nail any one person." 

Seated in foe audience was an invited guest, 
foe Waxren County prosecutor, John O’Reilly, 
who took notes throughout foe presentation. 
Afterward he said he was surprised at some of 
what he heard. He said that the case was very 

much alive and that as recently as September he 

City, Mary- 

had sent two investigators to Ocean ' 
land, to pursue a tip on foe possible identity of 
Princess Doe. No thing came of it, he said. 

As for die society members’ speculation, Mr. 
O'Reilly said, “I may have heard a few tilings here 
that I might want to go back and double check.” 

More than an hour after foe lunch ended, Mr. 
O'Reilly was huddled in a comer in whispered 
conversation with Mr. Walter. 

Panel Blames 

■ r 

Ferry Design ' 
And Crew for 
’94 Disaster ■ 

. Hi* 

— 4% 

.H*\ **■ 

The Associated Press - 

TALLINN, Estonia — An interna- 
tional commission investigating the 
1994 Estonia ferry disaster said Wed- 
nesday that design flaws and crew in- . 
action were instrumental in the death of 
852 people when foe ship sank in a 
storm in the Baltic Sea. ‘ 

The final report on Europe's worst ff 
maritime disaster since the end of World J 
War II said improperly designed locks “ 
allowed storm waves to tear the ship's 
bow door off. It also said faster reaction 
by foe crew could have increased ti& 
Estonia’s odds of survivaL- -• — - » 

But the Swedish-Finnish-Estoniifi 
co mmissi on is widely distrusted be- 
cause of repeated delays in issuing the 
rep on and the resignation of its former 
chairman. The German company that 
built foe huge ferry, the Meyer shipyard^ 
formed its own commission, which was 
often at odds with the international 

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The Estonia sank Sept. 28, 1994, on 
its way to Stockholm from Tallinn when 
waves of up to four meters (13 feet) 
ripped off its visor-style bow door and 
water poured into the vehicle deck. The 
ship sank in about 45 minutes off the 
Finnish coast in foe middle of foe night. 
Many who made it off foe ship died 
quickly in foe frigid waters of the Baltic 
Sea. A total of 137 people survived. 

The final report issued Wednesday 
upheld many of foe conclusions in a 
1 995 preliminary report, which said the 
bow door's locks faded because of poor 

TTie bow-door visor attachments 
"were not designed according to the 
realistic design assumptions,” the com- 

: __ • 

.-*• • 


. ..4 i 

L u< * 

• « _ VJt 

mission wrote in a 230-page final report 
It said the door locks should have been 

five times stronger. 

The report said that while the Estonia 
was basically seaworthy and properly 
manned, its officers were slow to re-! 

i/jfi /Ytiiri 

nTu * 1 ' 

spond to signs of trouble, such as reports 
of strange souj 

of strange sounds from the bow. 

It also that ship’s alarms had not been 
sounded until five minutes after foe Es-; 
tonia began listing heavily. By then, it 
was difficult for passengers to escape, 
the report said. ; 

A separate report commissioned by 
foe Meyer shipyard and made public 
Monday said the bow-door failure ap-; 
patently was a result of poor mainten- 
ance of the ship and excessive speed. 1 





Reuters • 

TEL AVTV — About 
700.000 workers began a na- 
tionwide strike Wednesday 
in Israel, shutting down the 
main international airport 
and the stock exchange in Tel 
Aviv, ports, banks, govern- 
ment offices and state-owned 

A labor court ordered most 
of foe strikers back to woik by 
the evening, pending a hear- 
ing Sunday, but the Histadrut 
Trade Unions Federation said 
it hod not yet decided whether 
to call off the biggest walkout 
in Israel in years. 

Asked if the strike had 

ended, the head of foe union, 
Amir Peretz, said: “No, no, 
certainly not” He said the 
federation would meet with its 
lawyers to discuss foe order. 

Months of feuding between 
the union and foe Finance 
Ministry over pension rights 
and privatization finally 
boiled over when the finance 
minister, Yaacov Neeman, 
made a remark that tire unions 
saw as inflammatory. “We 
don’t need enemies from 
within,” Mr. Neeman said 
Monday. “We have here 
bombs that are not ticking, 
exploding homemade 
bombs.’’ Mr. Peretz respond- 

ed by ordering the strike. 

Airlines changed flight 
schedules Wednesday so 
they could land before the 
strike shut down Ben-Gurion 
Airport outside Tel Aviv. 

Trains were stopped and 
workers stayed away from 
government-owned firms, 
including defense industries. 

Prime Minister Benjamin 
Netanyahu said that "like 
most Israeli citizens” he did 
not understand foe reason for 
foe strike. "It gives the Is- 

raeli economy a bad name," 
he said on Israel Radio. 
"There is no justification for 
this. It needs to stop now." 

Mr. Peretz called the strike 
a “spontaneous expression of 
foe rage workers reel” over 
Mr. Neeman ’s remarks. Mr. 
Neeman had apologized for 
his comments, saying he was 
not referring to foe workers. 

About 150,000 public sec- 
tor workers struck for 24 hours 
Sunday, and talks since have 
not resolved the dispute. 

Lufthansa to. Track Down Phones 

FRANKFURT (Reuters) — The German airline Lufthansa is 
testing a small electronic device to help it track down pas- 
sengers wbo jeopardize flight safety by using mobile phones. 

Mobile phones can interfere with an aircraft's electronics 
systems, and airlines usually remind passengers to mm them 
off before takeoff. 

Doctors and travelers need better education about avoiding 
malaria abroad because the disease has become drug-resistant', 
in some places, and knowledge is still evolving about anti-; 
malarial drags, foe report says. 

Report Calls for Malaria Awareness 

An Italian rail strike called for Thursday to protest plans; 
to cut about 25,000 jobs was narrowly averted when unions! 
and management reached an agreement Officials said the: 
pact reached late Tuesday, did not give any specific numbers ^ 
for job reductions. (AFP)', ^3 

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CHICAGO (AP) — As many as 30,000 North American 
and European travelers contract malaria annually, federal 
researchers said in a report in Wednesday’s issue of The 
Journal of foe American Medical Association. 

Continental Airlines will begin flying from the New York 
City suburb of Newark, New Jersey, to Moscow next spring! 
regardless of whether it gets approval for an alliance with the- 
Russian airline Aeroflot (Reuters) 

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Unesco May Add Pompeii 
To List of World Treasures 


. NAPLES — The United Nations Educational, Sci- 
entific and Cultural Organization will announce on 
Thursday new sites to be added to its list of exceptional 
world treasures to guarantee them special protection for 
posterity, a spokeswoman said. 

One of the stars of the list of 46 candidates being studied 
by Unesco 's World Heritage Committee at a weeklong 
meeting in Naples is the nearby ancient Roman site of 
Pompeii, destroyed by a volcanic eruption in A.D. 79. 

“Pompeii is going to be chosen for sure,” a Unesco 
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North America 

Abundant moteture wD bo 
moving onshore along the 
PacJltc Coast Friday and 
Saturday. Mexico anil bo 
warm and mainly dry. 
Western Canada will be 
rattier mild and dry. while 
eastern Canada and the 
northeastern United Kates 
w« be wry cold wSh snow 


Friday and Saturday will 
continue to bring clouds 
and rain to the central 
Mediterranean and the 
Balkans. Heavy snow will 
continue » buW the snow 
peck In the Alps. Mtlder air 
*61 Bow up tram the aouttv- 
west and warm the British 
Isles. Sunny, windy and 
cool tn Portugal. 


Vary cold arctic air will 
surge southward owar east- 

ern China. Heavy snow wHI 

(all over Manchuria and 
North Korea. Winds circu- 
lating westward oil the 
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rain to the mountains ol 
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Clinton Race Initiative Sputters Into Action 

^By Michael A. Fletcher and Peter Baker 

Washington Post Service 


Bilfrn!^ 3T0N T For six mon*s. President 
£-_ i i s cam P®iS“ for racial reconciliation 
Jong with little action and little impact, 
ey 5 s own aides. But as he hosted 
2S IW ? : *“? “oeting on race in Akron, Ohio, 
on Wednesday; Mr. Clinton hoped to finally start 
the provocative “national conversation” he en- 
when he announced the effort last June. 

-i ^or all the lofty sentiments expressed by the 
president when he k i c ked off the yearlo ng cam- 
^tgn m San Diego, White House aides acknowl- 
edge that pals were not clearly defined. 

*■ until months after the San Diego speech 

jpat me White House assembled a staff to cany oat 
the initiative. And the kinks are still being worked 
out. Flooded with calls and mail, John Hope Frank- 
M 0 * historian and chair man of the pr es i den t's ad- 


visory board, did not get his own assistant until two 
months into the project and was not told that Akron 
had been selected for the first meeting until after it 
had been reported in the news media. 

Just Tuesday, a former U.S. poet laureate, Rita 
Dove, turned down a White House invitation to 
take port in a race initiative event, Reuters reported, 
complaining that the White House knew little about 
her background. 

The White House views the town hall meeting as 
the turning point that rescues the initiative and 
begins to give it more focus. During the session, 
aides said, Mr. Clinton planned to announce that 
over die next few months he would unveil an 
“opportunity agenda" to improve race relations 
with initiatives in education, housing, health and 
civil rights enforcement 

“I don't know that any of us has ever artic- 
ulated" the goals- until now, said the White House 
deputy chief of staff. Sylvia Mathews, who over- 

sees the project and took a more hands-on role after 
the president became frustrated with its pace. 

Yet even the newly defined goals lack the scope 
that some allies of the White House hoped to see 
when the initiative got under way. The newpolicies 
have been narrowly drawn. 

One dial Mr. Clinton planned to announce in 
Akron, for example, would create “education op- 
portunity zones* modeled along economic de- 
velopment zones, providing financial incentives to 
15 to 25 impoverished school districts that adopt 
dramatic reforms such as closing failing schools 
and ousting bad teachers. 

“If we're having a national discussion on race at 
all, we all seem to be having very different con- 
versations," said Kenneth O’Reilly, a University 
of Alaska historian who has written a book about 
presidents and race. ‘ ‘Clinton has his conversation, 
and that certainly ain’t the same coovssatioa that 
the opponents of affirmative action axe having." 


: Albright’s Midwife Crisis 

u WASHINGTON- — “Dear Mrs. Allbright," began the 
.'■-letter from a woman in Dewsbury, En gland, “ft is a 
Sunday ritual for our family that we try to complete the 
L crossword in the Sunday Express. One clue was: who is 
p tbe Secretary of State in America? Not one of us could 
remember your name. 

“That evening, my daughter went into labor with her 
P* first child. la the middle of a bad contraction she 
screamed, ‘It’s Madeleine Allbright.' Her husband and I 

• knew what she meant but the poor midwife thought she 
was delirious. The labor proved to be long and hard bnt 
throughout it all she held ou to your name. We yelled at 
her, ‘Come on, yoa can do it, who was that woman?’ and 
she yelled back: ‘It was BJoody Madeleine Allbright. ’ 

“Eventually she was delivered of a fine" baby. Named 
Madeleine? No, Sam. “I now cannot see you on TV or 
read about you in the press without thinking good old 

Mrs. Albright read the letter at a senior staff meeting 
| s this week. Of course, if the family had known how to spell 

- Albright, they could have finished the crossword in the 

, Sunday Express. (Al Kamen. WP ) 

. Gephardt Defines Principles 

- CAMBRIDGE, Massachusetts — The House minority 
leader, Richard Gephardt, Democrat of Missouri, sought 
in a speech here to become die voice for Americans who 

,• feel left behind by soaring corporate profits and stock 
. prices by calling few government actions to soften the 
;• consequences of the free market. 

In a speech laced with populist, class-conscious rhet- 
oric, Mr. Gephardt recalled the turn-of-the -century era 

• when the federal government dismantled monopoly cor- 
j po rations and instituted worker protections. 

“We need a new progressivism for a new century," he 
. > said at Harvard University. “We must fight for a crucial, 
if limited, role for government as a positive instrument of 
our common interests and our common values.' ' 

The speech was Mr. Gephardt’s most comprehensive 
‘ recent staiem«ftof his political values. It was made as he 
ends a year in which he established himself as the leader 
of a competing wing of the Democratic Party — opposing 

- PresidearBifrClinton on the budget agreement, tax cuts, 

- relations with China and trade — and as he begins a year 

in which he will try to lead House Democrats bhek to the 
majority and, perhaps, himself to die 2000 presidential 
race against Vice President Al Gore. (WP) 

: Quote/Unquote 

Representative Henry Hyde, Republican of Illinois and 
chairman of the House Judiciary Committee, on Attorney 
General Janet Reno’s decision not to appoint a special 

- counsel: "When all die quibbling, lint-picking and fine 
«. distinctions are made, this matter all boils down io a loud 
_ and clear conflict of interest between the attorney gen- 
f eral’s duty to the public to enforce the law and her 

personal loyalty to the president who elevated her to the 
•• top law enforcement post in the land.' ’ 

Senator Carl Levin, Democrat of Michigan, on the 

- same issue: “The attorney general is a person of rock- 

• solid integrity. She has proven over time that she’ll call 
them as she sees them, as required by law, ignoring both 

• the threats of Republican leaders and her position in die 

administration.” • (AP) 

Giuliani Ad Kept Off Buses for Now 

New York Times Service 

NEW YORK — Those New York 
magazine advertisements that made fun of 
Mayor Rudolph Giuliani will not be going 
back on city buses here quite yet 

At the request of city said transit officials, a 
federal appellate court judge in Manhattan gave 
die Giuliani administration a brief reprieve 
Tuesday from a ruling Monday that said city 
officials had violated New York magazine’s 
First Amendment rights by preventing it from 
running the satirical ads on city buses. 

The magazine said the promotions were an 
affectionate joke. In die ads, die magazine 
declares that it is “possibly the only good thing 
in New York Rudy hasn’t taken credit for." 

But the dispute continued to escalate, as 
lawyers for the city and die Metropolitan 
Transportation Authority went to the 2d U.S. 
Circuit Court of Appeals, telling a judge in 
court papers of the ‘ ‘irreparable harm that will 
ensue" to both die city and the mayor if the 
ruling by Judge Shira Scheindlin of the U.S. 
District Court here is allowed to stand. 

“The decision was wrong," the mayor said 
Tuesday, saying Judge Scheindlin's finding 
that the magazine had the right to use his name 
in its satirical ads could open die door to similar 
promotions by less reputable publications. 

The stay will remain in place until a hearing 
Thursday before a three-judge panel of die 
appellate court. 

Jta Boufg/Rnani 

Louise Woodward at the hearing Wednesday over 
her altered conviction in an 8- month-old’s death. 

Away From 

•The prosecutors’ appeal 
of the dismissal of a British 
an pair’s juiy conviction in a 
murder trial will go directly to 
the Supreme Judicial Court trf 
Massachusetts. Justice Rom 
Abrams said foe appeal 
agains t the judge’s ruling, 
which freed Louise Wood- 
ward, could be presented to 
the full seven members of foe 
top court in March, bypassing 
the Appeals Court (AP) 

• Videocameras are enter- 
ing Los Angeles police patrol 
care, six years after the video- 
taped beating ofRodney King 
rocked foe department Chief 
Bernard Parks plans to make 
foe cameras standard equip- 
ment on new cruisers. (LAT) 

• For-profit health care 
should be ended, more than 
2,000 Massachusetts doctors, 
muses and other health care 
professionals urge in an ar- 
ticle in the new issue of Tbe 
Journal of the American 
Medical Association, arguing 
that the rise of managed 
health care threatens the soul 
of American medicine. (WP) 

• Traffic accidents win soon 
be tbe world’s third-leading 
cause of death, U.S. experts 
have predicted, behind heart 
disease and strokes. Half a 
million people die in such ac- 
cidents every year. ( Reuters ) 



The Amish Take Up 
New Ways of Living 

Few groups in America are 
tied to the word tradition as 
closely as the Amish, who live 
in communities separated 
from the modem world, shun- 
ning such amenities as elec- 
tricity and die telephone. 

Yet change has come in a 
big way in the last decade. As 
tlteir farms from Pennsylvania 
to Ohio, Indiana, Iowa and 
Illinois have become more 
costly to run, nearly half of the 
Amish have found nonfarm 
work' as craftsmen, carpenters' 
ami construction workers. 
Many are. making out_yexy. 
welE according to a new book, 
“Amish Enterprise: From 
Ploughs to Profits.” 

Many Amish now work at 
crafts for tourists, who find 
them endlessly fascinating — 
the men in beards and wide- 
brimmed hats, the women in 

more than $ 100,000 a year, and 
7 percent more than $500,000. 

“They don’t have com- 
puters, they’re not using elec- 
tricity and they don’t have 
(raining about how to create a 
marketing plan" — foe 
Amish limi t education to the 
eighth grade. But what they 
do have, he said, is entrepre- 
neurial spirit, innovativeness 
and a strong work ethic. 

Short Takes 

Facelifts and other forms 
of “rejuvenation" surgery 
are becoming increasingly 
popular among men. Mem- 
bers of the American Society 
of Plastic and Reconstructive 
Surgeons performed 5,000 
facelifts on men last year, up 
80 percent from 1992. “I’ve 
done facelifts on these guys, 
they’re like 65 * years old,- 

they’ve been ranchers all their 
lives, whereas you didn't used 
to see that," said Dr. Robert 
Qaik, of Wichita, Kansas. 
Urban men. too, are part of the 
trend. Still, men trail women. 
They accounted for just 14 
of the nation’s 
last year. 

All the added shopping, 
wrapping and decorating 
for foe holiday season boosts 
Americans’ trash output by 
25 percent, or a million tons a 
week between Thanksgiving 
and New Year’s, notes The 
Washington Post It quotes 
the ULS (Use Less Stun) Re- 
port as saying that just one 
tablespoon or wasted cran- 
berry sauce per person adds 
up to 16 million pounds. So 
eat up. And ho ho ho. 

.. ^rian..KiK>wUon 

rd Walk a Mile for Patchouli? 
Cigarette Firm Lists Ingredients 

Washington Post Service 

WASHINGTON — For the first time, an American tobacco 
company will list die ingredients in its cigarettes on foe label 

On Tuesday, Liggett Group foe. introduced cartons that foe 
company plans to begin using that list the ingredients in its 
L&M -cigarettes, including molasses, phenylacetic acid and 
foe oil of foe East Indian mint called patchouli. 

The move comes as the state of Massachusetts is trying to 
compel disclosure of ingredients by cigarette makers, an effort 
that other major tobacco companies are fighting. 

Liggett, which signed foe first settlements with states and 
private attorneys suing it, supports foe Massachusetts effort 
“Liggett believes that its adult consumers have a right to frill 
disclosure,” said Bennett LeBow, Liggett ’s head. 

Along with blended tobacco and water, the 26-item L&M 
list includes high-fructose corn syrup, sugar, natural and 
artificial licorice flavor, menthol, artificial milk chocolate and 
natural chocolate flavor, valerian root extract, molasses and 
vanilla extracts, and cedarwood oil. Less familiar additives 
include glycerol, propylene glycol, isovaleric acid, hexanoic 
acid and 3-mefoyjpfnCmdic jgnd^. j - V ■ ■* .. ■ ^ .= 


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; plain c 

nets. Others have formed wan- 
dering construction crews. 
“They are great workers," 
Dave Beatty of Marion Cen- 
ter, Pennsylvania, said, after a 
15-man Amish team built him 
a two-stray house. 

The Amish get about $10 
an hour, plus meals and a bus 
ride to foe work site if it is 
more than 80 miles from their 
homes. Otherwise, they travel 
to work by horse and buggy. 

Donald Kiaybill, co-author 
offoe book, found that about 15 
percent of the Amish now make 




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had metal bezel 
Sapphire crystal 
Water resistant. 

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Grendwn, Switzerland 
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Willard Inter- Cunt mental, 'Washington D.C. 

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U.K. Turns Circumspect 
In Talks on Hong Kong 

Meetings in Beijing Are First Since Handover 

By Edward A. Gargan 

Afar fori. Times Service 

HONG KONG — For the first time 
since Britain relinquished sovereignty 
of Hong Kong four months ago. British 
diplomats have met with officials in 
Beijing for a two-day discussion of the 
territory's reversion to Chinese rule. 

Although China has repeatedly and 
emphatically declared that Britain now 
has no responsibility to monitor or judge 
Beijing's policies toward Hong Kong, 
British diplomats used the occasion 
Tuesday and Wednesday to raise issues 
of democracy and human rights with the 

Despite its slams as nothing more 
than the former colonial power, the orig- 
inal agreement between the two coun- 
tries in 1984 called for continued bi- 
lateral discussions about Hong Kong 
through 2000. 

And while Britain has regularly crit- 
icized China, and its appointed leader 
for Hong Kong, the former shipping 
magnate Tung Chee-hwa, for dismant- 
ling all of the territory's democratic 
institutions, London was far more cir- 
cumspect in the talks in Beijing this 

"I stressed the need to look forward, 
not backwards," Alan Paul, the Leader 
of the British delegation to the Joint 
Liaison Group, said Wednesday in 
Beijing after six hours of meetings span- 
ning two days. "I think that it is vital 
that between now and 2007. when the 
time comes for Hong Kong to take a 
decision on the move to universal suf- 
frage, all necessary steps are taken to 
ensure that this is a real option." 

Hong Koqg officials are planning to 
hold elections in May for the territory's 
legislature, elections that will, however, 
sharply restrict the electoral franchise in 
a way designed to ensure the dominance 
of the business elite and pro-Beijing 

Even so. Mr. Paul refrained from 
criticizing publicly either the abolition 
of the fully elected legislature in July, 
upon the handover, or the methods for 

choosing a new one in May. He also said 
that Britain had no intention of sending 
election monitors to the May vote. 

“However." he added, “we shall be 
following the elections with the greatest 
possible interest." 

Mr. Paul also welcomed Beijing's 
decision to submit reports to the United 
Nations on the human rights situation in 
Hong Kong. It was unclear, though, 
whether the reports will be written in 
Hong Kong and revised by Beijing or 
sent directly to the United Nations. 

Although no Chinese official was 
available to comment on the meetings, 
held at the Diaoyutai state guest house 
just west of the Forbidden City, Beijing 
has continued to accuse London of rail- 
ing to deal completely with the illegal 
Vietnamese migrants who have landed 
in Hong Kong. There are still about 
1,200 so-called boat people here, most 
living in camps waiting either for ac- 
ceptance as refugees by some foreign 
country or far repatriation to Vietnam. 
Since the 1980s, more than 250,000 
refugees have either been resettled 
abroad or returned' to Vietnam. 

Mr. Paul said that Britain would eval- 
uate requests for asylum on a case-by- 
case basis, but offered the Chinese no 
promises to accept die Vietnamese en 

Both Mr. Paul and his Chinese coun- 
terpart, Wang Guisheng. are newly ap- 

One participant in the talks, Michael 
Suen Ming-yeung, now secretary for 
constitutional affairs in Hong Kong, 
switched sides ai the meetings; before 
July, he sat with the British delegation at 
the Joint Liaison Group discussions. 

Mr. Suen evinced no discomfiture at 
his realignment * 'Both China and Bri- 
tain have the same goat that is for the 
interest of Hong Kong," he said. 

At the regular Foreign Ministry brief- 
ing Tuesday, Tang Guoqiang, a spokes- 
man, poured a little cold water on the 

“The JLG's work,” he said, “was 
basically completed before die hand- 

Praise for Pakistan’s Army 

Military Played ‘Positive Role ’ in Power Struggle 

CarpMbfOwSBfFroBiD upmika 

ISLAMABAD, Pakistan 
— The government Wednes- 
day praised the army’s role in 

paralysis. The army itself 
made no comment on its 
role. , 

Many had womed the 

re-establishing stability as an crisis would cause the power- 
acting president and an in- ful military to take charge, but 

'-> k 

terim supreme coart chief the army chief was cast m the 
took power following Prime role of mediator, shuttling be- 
Minister Nawaz Sharif’s vie- tween the feuding heads of 

The dispute began several 
months ago over the appoint- 
ment of five new judges to the 
bench, expanding it to 17. 

Mr. Sharif preferred a 
smaller bench. Justice Shah 
eventually won. but not be- 
fore he resurrected corruption 
charges against Mr. Sharif, 

suspended legislation passed 
by Parliament and eventually 

lory in a constitutional state and judiciary to find a suspended legislation passed 

Hi tT- compromise. by Parliament and eventually 

Aimal Mian, the most so- Mr. Sharif accused both the charged him with contempt 

nior justice, took the oath of president and chief justice of If found guilty on the con- 
office as chief justice in a crying to undermine his goy- tempt-ot-coint charge Mr. 
ceremony attended by. 14 oth- eminent Mr. Leghan said Sharif could be removed from 
er justices, dozens of le gfe - Mr. Sharif’s administration power. 

lempi-oi-vwuii biuugc, ivir. 

Sharif could be removed from ® 

er justices, dozens of legis- 

lators and the gov e rnors of was a “dismal failure,” and 


President K. R. Narayanan, right, conferring with Prime 
Minister Inder Kumar Gujral in New Delhi on Wednesday. 

Pakistan's four provinces. Justice Shah accused the but now it wtil not be heard by 
The only justice absent was prime minister of orchestral- Justice Shah. 

Sajj ad Ali Shah, who was re- ing a mutiny on the supreme According to news reports 
moved as chief justice Tues- court bench. Wednesday, Justice Shah has 

day after a dispute with the In the end, 10 of the 17 taken a two-mouth leave of 
prime minister, whom he has justices on the supreme court absence from the bench. He is 
sought to have tried for cor- had sided with the prime min- scheduled to retire in Febru- 
ruption and contempt of ister. ar Y- (AP, Reuters) 


He still faces the charge, 
butnow it will not be heard by 
Justice Shah. 

According to news reports 
Wednesday, Justice Shah has 
taken a two-month leave of 
absence from the bench. He is 

(AP, Reuters) 

Cabinet Urges President 
To Call Election in India 

Washington Post Service 

NEW DELHI — The cabinet 

Congress (I) Party withdrew its 
support, prompting Mr. Gujral to 

of Inder Kumar GujraL the care- resign and Mr. Narayanan to ap- 
taker prime minister, recommen- point him as caretaker. 

taker prime minister, recommen- 
ded Wednesday that Parliament 
be dissolved, making it likelier 
that India will bold a midterm 
election early next year. 

President K.R. Narayanan 
does not have to follow the cab- 
inet' s recommendation, which 
was described as unanim ous, but 
it would be unusual if he rejected 

None of the three major blocs 
in Parliament — the United 
Front, Congress and the Hindu 
nationalist Bharatiya Janata 
Party — were able to assemble a 
new majority government over 
five days of negotiations and at- 
tempts to induce defections. 

Representatives of the parties 
sounded resigned to the second 

Voting by the nation’s 600 parliamentary campaign in less 
millio n registered voters would than two years, facing what Out- 

take several weeks and probably 
begin in February. 

The 13-party united Front co- 

look newsmagazine called 
election nobody wants.” 

Ajit JogL a Congress spokes- 

alition that ruled for seven man, tried to blame the coalition 
months was reduced to a minor- for not reaching a compromise 

ity government Friday when the on a new government 


The chairman of the Sen- 
ate, Wasim Sajjad, stepped in 
as acting president following 
Farooq Leghari’s resignation 
as head of state late Tuesday, 
accusing Mr. Sharif of seek- 
ing “total powers." 

Information Minister 
Mushalnd Hussain on Wed- 
nesday praised the army for 
its role in solving the political 

“The Pakistan Army 
played a positive role to sta- 
bilize the situation and 
demonstrated a commend- 
able commitment to the con- 
stitution, rule of law and 
democratic political sys- 
tem," he said in a statement. 

Mr. Hussain said this “is 
sign of stability, especially 
for a country like Pakistan, 
which has experienced vary- 
ing periods of military rule in 
tiie past" 50 years. 

It was the first time that Mr. 
Sharif s government had pub- 
licly acknowledged the sup- 
port the military gave to end 
the weeks of constitutional 

CLIMATE: At Kyoto Talks, Greenpeace Meets Its Darth Voder 

Continued from Page 1 

representatives of oil, coal, 
automobile, agricultural and 
other industries fighting any 
binding agreement in Kyoto. 

Greenpeace, the environ- 

puppets of President Bill 
Clinton and Vice President Al 

mental watchdog group, held 
a packed press conference 

a packed press conference 
Wednesday to blast industrial 
lobbyists for their “obstruct- 
ive role" and for “un- 
abashedly playing games 
with science and statistics." 

One environmental group. 
Friends of the Earth, is dis- 
tributing a leaflet that shows a 
jowly man in a cowboy hat 
and abolo string tie, looking a 
lot like J.R. Ewing from 
“Dallas," with little bowtied 

Gore sitting in his consider- 
able Lap. 

The idea, endorsed by 
many environmentalist here, 
is that the U.S. government’s 
environmental policy is con- 
trolled by major oil and auto- 
motive companies that are 
“making billions of dollars 
from fossil fuels whilst help- 
ing to wreck the Earth’s cli- 

Friends of the Earth also 
has set out a ballot box for 
voting on the “top of the 
Dirty Dozen.” 

Voters are asked to choose 
their least favorite among 12 
groups and companies, in- 


eluding Exxon, Mobil, Shell 
Oil, Ford Motor Co. and the 
Global Climate Coalition, the 
American organization — 
co mprising those oil compa- 
nies, the Big Three auto- 
makers, mining and transport 
companies, steelmakers and 
chemical producers — that 
has led the charge against 
binding emissions targets at 

“It is visceral,” said Gail 
McDonald, the coalition’s 
president, who is cited per- 
sonally in a Friends of the 
Earth pamphlet 

Ms. McDonald, former 
chairman of the Interstate 
Commerce Commission in 
the Clinton administration, 
said that the opposition to her 
group’s position in Kyoto this 
week had been vehement and 
sometimes personaL 

* ‘For a person who used to 
get a certain degree of de- 
ference as a public official, 
it’s hard," she said. “I re- 

mind myself each day that I 
need a thicker skin." 

Ms. McDonald's group is 
among the largest lobbying 
groups in Kyoto, with more 
than 100 members expected 
to be in town before the con- 
ference ends Dec. 10. 

Greenpeace, perhaps the 
largest international environ- 
mental delegation at the con- 
ference, has about 40 mem- 
bers here. 

The McDonald group was 
the leading force behinda$13 
million advertising campaign 
in the United States this fall 
that warned that strict reduc- 
tions in greenhouse gases 
would cause catastrophic 
economic results and en- 
danger the lifestyle of every 

“We’re often seen as the 
guys in the black hats." Ms. 
McDonald said. “But we do 
feel great entitlement to make 
the case for tiie companies we 

The Minister of Transport Public Works and Water Management will 
start an application procedure on 1 December 1997 for the granting 
ot licences for the installation, maintenance and operation of telecom- 
munications networks based on the DCS 1800 and C5M standards In 
the Netherlands. 

This procedure is based on the Telecommunications Act The relevant 
legislation - published in the StaatsWad’ (Statute Book) and in the 
Sraatscouranf ithe Netherlands Government Gazette) - wiH be 
available no later than 1 December 1997. 

An application will only be handled if: 


Legal Services 

Available are: 

a two national licences, consisting of a combination of DCS 1800 
and GSM -frequencies. The current GSM licensees, KPN and 
Libertel. are excluded from these licences, 
b 1 6 licences, consisting of DCS 1 800 frequencies only. 

No mandatory national coverage applies to these licences. 

the application document has been requested and a sum of 
NLG 500 has been received; 
an application has been received that satisfies the 
statutory requirements; 

the application has been received before 7 January 1998 at 
14.00 hours; 

a sum of NLG 25.000 has been received for an application for a 
combined DCS 1800/GSM licence no later than 7 January 1998 
at 14.00 hours; 

a sum of NLG 15,000 has been received for an application for a 
DCS 1800 licence no later than 7 January 1998 at 14.00 hours. 
This sum does not have to be received If the applicant has also 
submitted an application for a combined DCS 1800/GSM license. 


AU 4 DECQSRE 1987 
Prtx Hors TVA en devise beats 
(tradueftn dsponUa sir fenande) 
Ren place Ik baronies arterietis 

DIVORCE M 1 DAY. No trawL Wrtc 
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Business Opportunities 

FRANCE {am C) sn ffll - TVA 206% 
00: 3.78 FOOT-. 225 

SC87: 5,39 SCSP: 524 

UK (zone B) en /! - TVA 17,5% (Bad 5%) 
GO. 55589 FOOT: 0.3476 


ZDME t‘G: 

There are no restrictions on combining these licences. 

The licences wiH be auctioned, unless it appears from the application 

procedure that there is no scarcity of them. 

in that case the licences will be granted to the applicants. 

2. Request for an application document 

An application document may only be sent if a payment of NLG 500 
has been received. An application document can exclusively be 
requested In writing from; 

GO: 1,06 

ZONE tt-t: 

GO: 1,04 

ZDHE H - F ; 

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m Dougin tail 
+44 SiW 6298 


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Fac +44 ffi 1 1624 B2512B 

Parties who are interested in one or more licences may submit an 
application In order to be eligible for a licence, a number of minimum 
requirements will have to be fulfilled. 

1. Submission of the application 

The application procedure will be described in an application docu- 
ment. This document also contains the relevant statutory regulations. 
The application must be submitted in conformity with the require- 
ments with respect to form and content, as described in the applica- 
tion document. For licenses for DCS 1800 combined with GSM, a sum 
of NLG 25.000 must be paid simultaneously with submission of the 
application An applicant for one or more licenses for DCS 1800 must 
pay a sum of NLG 15,000 simultaneously with submission of the 
application. An applicant who wishes to acquire both a licence for 
DCS 1800 combined with GSM and one or more licences for 
DCS 1800 must only pay the sum of NLG 25.000. 

The Minister of Transport, PubKc Works 

and Water Management 

c/o mr. P. van DuUemen, dvH-law notary 

PO Box 11756 


The Nethedands 

fax: +3170 347 6719. 


GO: 22,64 F00: 1059 

SC97: 33JD6 SCSP: 31,18 

I imd qn 

Tot +44 ffi 171 233 1382 
Fax: +44 (ffl 1T1 233 1518 

H0UAHDE tsmS) NLGII - TVA 175% 
GO: 1,321 POD: &B29 

SC97: 1,949 SCSP 1,698 

E Mall: astafltafeiprisuwt 


GO: 19JES 

3. Payment 

The payment required must be transferred to: 

GO. £6,69 

SC07: 103,10 SCSP: 107,59 






Bank account number 22J>8.00.926, 

F. van Lanschot Ban idem N.V.. In The Hague, The Netherlands 

In the name of mr. P. van DuUemen, 

civil -Jaw notary In The Hague. The Netherlands 

3tfrrt fr3BS taribiinc 



2402 Bant al America Tows 

The application and the payment must be received no later than 
7 Ian nary 1998 at 14.00 hours. 

4. Duration of the licence 

The licence will be granted for a period of 15 years. 

The Hague 

An applicant for a combined DCS 1 800/GSM licence may only submit The Minister of Transport, PubHc Works 

one application. An applicant for one or more of the sixteen DCS 1800 and Water Management 

licences must indicate which of these Hcenees he wishes to acquire. On whose behalf. 

An applicant who wishes to acquire a combined DCS 1800/GSM the Director of the Tetecomm unkatians and Post Department 

teence as well as a DCS 1 800 licence must submit two applications. drs. J.M.F. Dins 

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HELP crisis-lira in aigish. 3 pm - 
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Bond S&mj ■ Mail Phone, Fax. Telex 
Tflt 44 171 290 9000 Fax 171 4® 7517 


Treaty Assailed in Bangladesh 

DHAKA — Bangladesh’s main opposition party on 
Wednesday called for a national general strike on Sunday 
to protest the signing of a peace treaty with tribal rebels in 
the Chittagong Hill Tracts. 

“The treaty amounts to a denial of sovereignty over 
one-tenth of the country’s total territory.” said former 
Prime Minister Begum Khali da Zia, leader of the 
Bangladesh Nationalist Party. 

TTie treaty was signed in Dhaka on Tuesday by the 
government of Prime Minister Hasina Wazed and rebel 
leaders. It is intended to end a quarter century of tribal 
insurgency in the 5*50Q-sguare-mile ( 14,2DO-square-ki- 
lometer) Chittagong Hill Tracts, which border India and 
Burma. (Reuters) 

Sihanouk Greeted by Hun Sen 

PHNOM PENH — King Norodom Sihanouk of Cam- 
bodia returned to Phnom Penh on Wednesday and was 
greeted by a long line of officials including the country's 
de facto leader, Hun Sen, who deposed the Icing's son. 
Prince Norodom Ranariddh, in early July. 

The 75-year-old king left Cambodia in late October for 
medical treatment in Beijing. King Sihanouk, accom- 
panied by his wife. Queen Norodom Monineath. was 
making his first trip to the capital since the coup that 
removed his son from power. (Reiners j 

Bhopal Anniversary Observed 

BHOPAL, India — Survivors of one of the world's 
worst industrial accidents observed the 13th anniversary 
of the fateful day on Wednesday, carrying effigies of the 
dead through the streets of Bhopal. 

Up to 6,500 people were killed and ai least 20,000 injured 
in tins central Indian city after 27 tons of toxic gas leaked 
from a pesticide factory owned by an Amencan mul- 
tinational, Union Carbide Corp., on Dec. 3, 1984. 

Survivors and children bom after the accident burned, 
beat and kicked effigies of the company's former chair- 
man, Warren Anderson, in front of Union Carbide India 's 
former plant (Reuters) 

Jakarta Reinstates Loggers 

JAKARTA — Indonesia has reinstated 45 of the 144 
timber exploitation permits revoked in the wake of wide- 
spread forest fires, the official Antara press agency re- 
l»rted Wednesday. 

The agency quoted Soegeng Widodo, director of forest 
supervision in the Forestry Ministry, as saying Tuesday 
that tiie 45 licenses, held by 21 companies, were restored 
after the companies agreed not to clear land through 
burning. (Reuters) 

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Global markets, global communications, global technologies... the trend seems to be to 

globalize pretty well everything. 

So how on earth do you keep on top of daily developments? Through the 

global eyes of the International Herald Tribune. 

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rtbunc Global Economics Bumping Against Local Culture 


Conditions for Seoul 

The United States is right to back a 
financ ial rescue plan for South Korea 

but also right to insist on tough con- 
ditions — what President Bill Clinton 

ditions — what President Bill Clinton 
termed a “strong agreement" with the 
International Monetary Fund. Helping 
the Koreans is in the interest of the U.S. 
economy, which would be seriously 
affected if South Korea’s downward 
spiral were not checked. But such as- 
sistance makes sense only if South 
Korea implements the tough economic 

reforms it needs to help itself. 

A rescue will involve billions of 

dollars, both directly and indirectly 
through U.S. contributions to the IMF, 
and therefore is sure to excite oppo- 
sition in Washington. So it is worth . 
pointing out that what is commonly 
referred to as a “bailout" is by no 
means a gift from American taxpayers 
to their South Korean counterparts. 

When the United States “bailed 
out" Mexico, U.S. taxpayers ended up 
in the black because Mexico promptly 
repaid its loans, with interest. The goal 
in South Korea is the same: to provide 
a pool of money to restore international 
confidence in die South Korean eco- 
nomy while it retools and works 
through its financial crisis. The South 

Koreans promise to repay the money 
once they regain their footing. 

That is the theory, and there is no 
reason it can’t work in South Korea's 
case, where in many ways the economy 
is in better shape than was Mexico's. 
South Korea has an impressive indus- 
trial base, a high savings rate and a 
highly educated population. Its eco- 
nomy is the world’s 1 1th largest. 

But South Korea’s economy also is 
beset by some very real problems. If 
those are not tackled, no amount of 
money can restore investor confi- 
dence. And if the IMF, backed by the 

Freeh’s Truth Grenade 

There was nothing unexpected in 
Attorney General Janet Reno’s refusal 
on Tuesday to appoint an independent 
counsel on the issue of telephone so- 
licitation by Bill Clinton and A1 Gore. 
Indeed. Ms. Reno's choice of such a 
narrow legal issue guaranteed the out- 
come that she announced. What was 
unexpected was the dramatic way in 
which Louis Freeh, the FBI director, 
rebelled against her persistent blind- 
ness to the conflict of interest that this 
case presents to her and the Justice 
Department. By doing so, he exposed 
the -emptiness of Ms. Reno's inter- 
pretation of the Independent Counsel 

Act, and practically guaranteed that 
demands for a counsel will persist de- 

demands for a counsel will persist de- 
spite her desire to smother them. 

Mr. Freeh put his prestige as director 
of the bureau behind several powerful 

let the White House and Congress 
know that he and his agency do not 
endorse her effort to hobble and politi- 
cize federal law enforcement 
Ms. Reno's aides and die Clintou- 
Gore team are livid about Mr. Freeh's 
show of independence, and they will 
probably counter by accusing him of 
playing to the press and the Republican 
congressional majority. But in OUT 
view he has acted prudently to preserve 
his personal reparation and the integ- 
rity of the FBL He has also followed 
sound legal principle in protesting Ms. 
Reno's perversely constricted reading., 
of the Independent Counsel Act 
Republicans in Congress must seize 

on this principled defection from the 
Reno bloddne strategy to force ap- 

of the bureau behind several powerful 
ideas that have disrupted Ms. Reno’s 
effort to curtail an unrestricted inves- 
tigation of the Clinton-Gore fund-rais- 
ing in 1996. Through unnamed aides, 
he has now asserted thar this attorney 
general is so mired in conflict of in- 
terest that she must step aside and let 
others investigate her boss. He has seen 
through Ms. Reno's decoy tactic of 
focusing on whether the telephone 
calls violate a century-old statute, and 
he has argued that the available ev- 
idence requires a broader inquiry. 

Mr. Freeh has let it be known that he 
remains worried about a reported 
.Chinese government effort to influ- 
ence the 1996 election. He has shown 
that he has no confidence in the career 
officials who, at Ms. Reno's insist- 
ence, have been given control over the 
most significant political scandal since 
Watergate. By putting his doubts in a 
memo that he handed to Ms. Reno for 
her Thanksgiving holiday reading, he 

Reno blocking strategy to force ap- 
pointment of a counsel A logical first 
step would be to summon Mr. Freeh to 
testify in public on his memo to Ms. 
Reno. Thai information can then be 
used in another letter formally request- 
ing the attorney general to do her doty 
under the counsel law. 

For Mr. Clinton, a smart move would 
be to adopt Mr. Freeh’s view as his own 
and simply order Ms. Reno to appoint a 
counsel with the authority to examine 
all aspects of the ’96 campaign, in- 
cluding the Chinese connection and 
campaign spending by both parties. 

It will take a few days for the mag- 
nitude of Mr. Freeh’s action to sink in. 
Washington has not seen an FBI di- 
rector publicly tell an attorney general 
that she is wrong on the evidence and 
wrong on the law. It was a momentous 
act of duty to lob this hand grenade of 
truth into Ms. Reno's legal fantasy- 
land. Now the congressional majority 
must embrace its duty to pursue justice 
when the Justice Department reneges. 


Other Comment 

Dangerous Politics in India 

The fall of the latest Indian gov- 
ernment comes as no surprise. But, 
given the constellation of forces in 
Parliament, no bloc is yet strong 
enough to form a stable government, 
and new elections are unlikely to 
change that. If any party stands to 
benefit from the continuing crisis, it is 
the Hindu nationalist Bharatiya Janata 
Party, which is already the strongest 
party in the lower house. The once 
abhorred Hindu nationalists can only 
profit from the political impasse and 

ular state and have grave consequences 
for religious freedom in that country. 
— Neue Zurcher Zeitung (Zurich). 

gain further respectability. 

Should the BJP ever become the 

Should the BJP ever become the 
dominant partner in a coalition gov- 
ernment. that would pose a serious 
threat to the concept of India as a sec- 

Compromises are, of course, the 
very stuff of politics, but there comes a 
time in the lire of a party and institution 
when the game of politics is reduced 
to maneuvers and playing Byzantine 
games to win power and stay in office 
once having achieved it. 

The Congress Party can claim the 
dubious distinction of proving how 
contagious its new mores are. The 
Bharatiya Janata Party that had 
flickered as a shining light in adver- 
tising its discipline and probity has 
become a mirror image of Congress. 

— 5. Nihal Singh, commenting in 
the Khaleej Times (Dubai). 


licral ft^^ Srumne 





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W ASHINGTON — South Korea's 
crisis is as much noli deal and 

United States and Japan and others, 
lends South Korea money in such con- 
ditions. the bailout fund will just be 
frittered away. 

Some time will pass before we know 
for sure whether South Korea is willing 
and able to institute the needed and 
promised reforms. Its National As- 
sembly recently rejected a package of 
financial liberalization measures. The 
nation is approaching a presidential 
election, so the incumbent is a lame 
duck with limited authority. South 
Korea’s government denied up to the 
last minute that it needed an IMF bail- 
out at all, and many officials, unions, 
banks and businesses still seem in a 
state of d enial about the extent of nec- 
essary reforms. 

Those reforms, it should be stressed, 
are not identical to what the IMF has 
imposed on Mexico and other ailing 
economies. South Korea’s problem is 
not one of government or consumer 
profligacy, so the traditional medicine 
of fiscal austerity and imposed reces- 
sion needs to be modified. But the 
economy — as many of its smartest 
policy experts have long argued — 
needs deep structural reform. Banks 
were too cozy with government and 
with allied industrial conglomerates, 
and they made a lot of bad loans. 

Now the economic structure needs 
to be opened up to foreign investors 
and local entrepreneurs alike. Banks 
and companies that are effectively 
bankrupt should be allowed to fail; 
regulation should be consistent and 
clear to the public. Such reforms will 
help South Korea's economy in. the 
long run, but a lot of folks who got rich 
the old way, including politicians, will 
continue to resist. Monitoring the res- 
cue plan calls for long-term vigilance. 


YV crisis is as much political and 
psychological as economic. The same 
is true of almost all the countries caught 
in the present economic downdraft 
Governments have to a large extent 
earned popular approval for their abil- 
ity to deliver economic progress. The 
rapid rise of hiring standards has fanned 
expectations and muted opposition. 
Success is intoxicating and disarming. 

Now economic growth will slow and 
may reverse. Expectations will be 
dashed and discontents aroused. Gov- 
ernments will operate in a different 
climate and lace unpopular decisions. 
No one knows how well, or whether, 
political leaders will cope. 

South Korea exemplifies a common 
dilemma. Rapid economic growth has 
overwhelmed traditional ways of doing 
business and politics. Remorseless fi- 
nancial mnricpfg and multinational 
linns guide the global economy. Strict 
economic calculation reigns. Investors 
want international accounting stan- 
dards and enforceable contracts. 

Meanwhile, emerging economies 
play by their own rules. Political con- 
nections often determine who wins and 
loses: financial information is often un- 
reliable or dishonest The most dis- 

By Robert J. Sanxuelson 

global dictates or economic growth. 

For South Korea, vulnerability 
arises from an estimated $ 120 billion in 
foreign debt. This consists mostly of 
dollar loans made to South Korean 
banks and companies. About S66 bil- 
lion of these loans mature in less than a 
year, says the Bank of Korea. 

If the loans are not renewed. South 
Korea could plange into depression. Its 
foreign exchange reserves (now less 
than $30 billion) might be depleted; it 
would have to curb imports sharply. Or 
borrowers, including big banks and 
companies, would be forced into bank- 
ruptcy. Or both. 

An IMF loan aims to avert this large 
calamity by imposing a smaller calam- 
ity. Foreign creditors would be reas- 
sured or paid off with the new credit; 
but South Korea would be forced to 
ma|fc. basic changes in its traditional 

approach to economic growth. 

This has involved using banks to 
make big loans to the chaeboL These 
large conglomerates (the best known 
are Hyundai and Samsung) dominate 
the economy. Generous loans were in- 
tended to promote strategic industries, 
from shipbuilding to computer chips. 

But lax loans also promoted huge 
overinvestment. Computer chips, now 
South Korea’s largest export, are the 
latest example; the present crisis start- 

tnrbing aspect of the failure of Japan’s 
Yamaicbi Securities was the company’s 

Yamaicbi Securities was the company’s 
concealment of $2 billion in losses. 

Local culture and global economics 
collide. Countries may have to heed 

ed with the collapse of prices for 
memory chips (down 70 percent from a 
year earlier) in late 1996. This crippled 
exports and widened the trade deficit. 

As a result. South Korea is not earn- 
ing enough abroad to cover its overseas 
debt, and its banks are saddled with bad 
loans to the chaebol. The Bank of 
Korea puts bad and ponperforming 
loans (nos paying either interest or prin- 
cipal) at $20 billion; private estimates 
go to at least $50 billion. 

The reckoning has arrived. South 
Korea’s growth will drop because new 
credit — foreign and domestic — has 
evaporated. The chaebol will shut some 
operations, fire workers at others. 

For ordinary South Koreans; the 
prospect is for higher taxes, lower em- 
ployment and more insecurity. “Life- 
time employment" will erode. Wheth- 
er South Koreans will quietly stomach 
all this is a good question. Whether 
South Korean politicians can summon 
the will to enact all the new laws 
needed to satisfy the IMF and global 
investors is also a good question. 

South Korea is now in the midst of a 
campaign for a Dec. 18 presidential 
election. None of the three major can- 
didates haa candidly addre ssed the eco- 
nomic crisis. All three favor banking 
reform, notes The Economist, “but no 
one knows how resolute any of them 
would be in pursuit of it." 

Similar uncertainties plague other 
Asian countries. Japan has handled its 

Turbulence Now, but East Asia’s Economic Success Is Impressive 

Lumpur in 1968 was 

YY Lumpur in 1968 was 
sleepy. There were not enough 
motor vehicles to pot together a 
traffic jam. Minutes after you 
left the heart of town you could 
be at the edge of the jungle. 

My office on die fifth floor 
of the China Insurance Build- 
ing looked down on the entire 
city. Palm trees stood taller 
than most b nil dings. Shops 
were mom-and-pop affairs, 
with the family living upstairs. 

Today the Malaysian capital 
is unrecognizable to anyone 
who knew it 30 years ago. Its 
skyline is punctuated by the 
two tallest buildings in the 
world, die Petronas Towers. 
Climate-controlled malls offer 
some of the world’s costliest 
luxuries to customers who live 
in elegant condominiums. 

Morning and evening, grid- 
lock is easily comparable to the 
worst that metropolitan New 

York can dish out 

With minor variations, these 

By Lewis M. Simons 

kinds of changes can be seen 
throughout Southeast Asia — 
in Singapore, Bangkok, Ja- 
karta and Manila — to say noth- 
ing of Tokyo, Seoul, Taipei, 
Hong Kong and, increasingly, 
Shanghai and Beijing. 

When I first came to know 
these cities, most were stagnant 
backwaters. Today they are 
world-class showcases, replete 
with world-class problems — 
like turbulent stock markets. 

There is a troubling tend- 
ency among some Americans 
to declare that the current fi- 
nancial crisis in Asia means 
that the economic accomplish- 
ments of these countries have 
been nothing but myth. Only 
yesterday these same financial 
analysts and newspaper report- 
ers were calling Asia's eco- 
nomic revitalization a miracle. 

That sort of shortsightedness 
results in a. wildly- swinging, 
scorecard of so-called winners 

and losers, a kind of topsy- 
turvy perception of the world. 

In 1982, just as I was pre- 
paring to move to Tokyo, Ezra 
F. Vogel’s book, “Japan as No. 
1: Lessons for America," is- 
sued adire wanting that Japan 
had left the United Stales in the 
dust Because many Americans 
had been so dismissive of Japan 
after World War II, they were 
stunned to discover that it had 
risen, apparently overnight, 
from the wreckage and become 
an economic powerhouse. 

American self-confidence 
went gurgling down the drain. 
During the 14 years 1 was based 
in Tokyo, executives from ma- 
jor American companies ar- 
rived daily to bow before the 
Japanese businessman, the 
gods of “just-in-time" deliv- 
ery and “lifetime employ- 
ment” The Japanese, it 
-seemed, had the^nswers 

in. 1990, Japan's economy 

burst Stock markets in die 
United States went wild. Former 
pilgrims from Detroit and Sil- 
icon Valley, along with the ana- 
lysts on Wall Street, were 
thrilled. America was back! 

Is the Asian economic mir- 
acle now finished? So much for 
the Pacific century? 

The economic evolution of 
much of Asia was not mira- 
culous. It was the result of a lot 
of hard work and smart invest- 
ing, as well as luck and for- 
tuitous timing There was 
plenty of chicanery and crooked 
dealing. But die economic evo- 
lution was not a myth. 

Certainly some Asian lead- 
ers — notably Lee Knan Yew, 
the founder of modem Singa- 
pore, and Mahathir bin Mo- 
hamad, Malaysia’s prime min- 
ister — helped create and 
perpetuate the thesis that 
’ Asian values" produced a 
level of industriousness super- 
iocfo thataf the Westin gedjeraL 
and die United States in par- 

The writer, a longtime Asian 
correspondent for various ' 
news organizations, won a 1 
1987 Pitlitxer Prize for his ar- ■ 
ticles on the Philippines. He "• 
contributed this, comment to . 
The New York Times. 

Playing Electoral Politics With Britain’s European Role 

P ARIS — Tony Blair says 
that fox hunting will be 

JT thar fox hunting will be 
banned in Britain by the year 
2000; and that Britain will not 
join the European single cur- 
rency until well into the new 
millennium. He is likely to be 
wrong on both counts. 

On both, the prime minister is 
caught in the jaws of promises 
made or evaded during his elec- 
toral campaign last spring. On 
both — emulating his model. 
Bill Clinton, during Mr. Clin- 
ton’s first term — he is already 
running for a second term. 

Last Friday the House of 
Commons voted, 411 to 151, 
for a private member's bill to 
ban fox hunting. “A cruel and 
outdated practice,’’ according 

By William Pfaff 

to the bid’s supporters. A matter 
of “the unspeakable in pursuit 
of the inedible,” in Oscar 
Wide’s pleasantry. 

An attack upon England’s 
heritage, in pursuit of an agenda 
“which will move relentlessly 
through fishing and shooting 
and angling, ’ declared die 
former Conservative deputy 
prime minister, Michael Hesel- 
tine, on Friday. 

Earlier, Mr. Blair had an- 
nounced that it would be his 
government's policy on the 
single European currency to re- 
fuse to join it during the life of 
this Parliament, but perhaps to 
accept membership in Euro- 

pean monetary union in die next 
Parliament, assuming that La- 
bour government will be re- 
newed in the new millennium. 

There is a big majority inside 
the Labour Party for banning fox 
hunting, and a big minority of 
British voters who do not want 
the single currency. The Labour 
leadership recognizes that both 
issues can. make trouble for them 
among those centrist voters con- 
verted from Toryism last spring 
who put the unthreatening and 
accommodating Mr. Blair into 
10 Downing Street 

Fox hunting is part sport part 
agricultural ve rmin control and 
part snobbery, but is profoundly 

Preferring Saddam to America? 

other crisis with Iraq ap- 

YY other crisis with Iraq ap- 
pears over, with Saddam again 
stronger than he had been. The 
reason for his success is not 
hand to find: “Arabs Angry 
with U.S. for Iraq Crisis, ’ 

By Daniel Pipes 

reads the typical newspaper 
headline. And indeed they are. 

headline. And indeed they are. 

From all over the Middle 
East politicians, religious 
leaders and ordinary people 
have harsh words for Amer- 
ican actions. In their view, 
America is “starving and be- 
sieging the Iraqi people. ’’ 

Arab commentators seem 
not to fmd Saddam Hussein a 
threat to themselves. A senior 
Jordanian asserts blandly that 
“there is no capability of Iraq 
to threaten its neighbors for 
the next 20 years.” 

With such altitudes, it 
comes as no surprise that 
Middle Eastern governments 
tried to prevent the U.S. gov- 
ernment from using force 
against Saddam. 

Neither the Saudis nor the 
Turks have agreed to the use 
of their territory for strikes 
against Iraqi targets. Secretary 
of State Madeleine Albright 
undertook an embarrassing 
trip to tile region and found no 
Arab support for using force 
against Iraq. 

All this is very strange. It 
should be the Saudis, Turks 
and others who beseech the 
Americans to help fend off 
Saddam — the tyrant who at- 
tacked Iran in 1980, Kuwait in 
1990 and Saudi Arabia and 
Israel in 1991. Middle East- 
erners, after all, are a lot closer 

to Saddam Hussein's missiles 
than America is. They are also 
a lot weaker. 

Why then is the United 
States in this topsy-turvy situ- 
ation in which the distant and 
strong power begs nearby and 
weak states to contain their 
mutual enemy? An answer 
may lie in die fact that the U.S. 
government has repeatedly 
found itself in this position. 

During the Vietnam War, 
Washington had to plead with 
the South Vietnamese to stand 
strong against the Viet Cong 
and. Noth Vietnam. In the last 
decade of the Cold War, it had 
to persuade NATO allies to 
accept modem American mis- 
siles on their territories. 

In each case, as in the 
present one, U.S. officialdom 
made the same mistake: So 
convinced of the righteous- 
ness and importance of its 
cause, it shouldered the main 

With this in mind. I propose 
that President Bill Clinton say 
something like this: 

“It’s up to you, my Middle 
Eastern friends. If you think 
you can coexist with a Sad- 
dam who possesses large 
armies and weapons of mass 
destruction, we're happy to 
withdraw our aircraft carriers, 
our soldiers in the region and 
the rest of our infrastructure. 

“If you think you can sur- 
vive a Saddam who gains the 
proceeds of 3 million barrels 
of oil a day, we will lift the 

“In short, if you want to 
return to the way things were 
before the Iraqi troops in- 
vaded Kuwait in August 1990, 
just tell us and it's yours. 

“But if you worry that such 
steps will endanger your se- 

rooted in England’s country life 
and class traditions. Fox hanting 
also represents a significant eco- 
nomic interest in a countryside 
where fanning is a dwindling 
source of employment. 

Mr. Blair, together with nine 
other members of his cabinet, 
contrived not to be in London 
for last Friday's vote, although 
he says he supports the fox 
hunting baa He has indicated, 
however, that his government 
will not press tiie bill’s passage 
in this parliamentary session. 

On the single currency, his 
government suffers from the 
sentiment expressed by the late, 
great James Durante as “feel- 
ing that you want to go when 
you know that y’gotta stay." A 
divided mind on the matter. 

The mind in question is not so 
- much that of Tony Blair as of his 
handlers and positioners. The 
experience of their American he- 
ro, Bill Clinton, has convinced 
than that Britain’s prime min- 
ister should do nothing without 
justification from polls and focus 
groups, and endorsement from 
the major business interests, and 
these tend to conflict. 

Industry, banking and Bri tish 
international business generally 
want Britain a member of the 
European single currency as 
early as possible, for obvious 
commercial reasons. However, 
a serious obstacle exists in the 
fact that Britain’s economic 
cycle is out of phase with those 
of the major Continental eco- 


1897: Hawaii Question 

cunty, we are happy to stay. 
However, we need yon expli- 
citly to ask us to do so. And you 
have to pay part of our costs 
and provide soldiers and ma- 
teriel to carry out the mission. 

“Finally, so that we know 
that the request is deeply felt, 
and not just the whim of the 
leaders, you must hold a ref- 
erendum on the topic so that 
the people of your countries 
can endorse our efforts. ” 

This sensational statement 
would turn the politics of the 
Middle East right-side up and 
transform America from pari- 
ah of tiie region to savior. 

responsibility for it, shoving 
aside the local parties. 

This has the perverse effect 
of freeing up the locals. Aware 
that what they do has almost 
no importance, they revert to 
political immaturity. 

No longer having to worry 
about their own skins, they in- 
stead indulge in corruption (Vi- 
etnam), political opportunism 
(NATO) and conspiracy the- 
ories (die Middle East). 

The solution would lie in a 
very different American ap- 
proach, one that gives signif- 
icance to the allies’ actions. 

PARIS — [The Herald says in 
an Editorial:] It is gratifying to 
learn that the subject of the an- 
nexation of Hawaii is to precede 
the consideration of Cuban af- 
fairs by the American Congress. 
If the question is not settled 
SOOn, Hawaii mav be annexnt 

all property of over $16,000, the 
Swiss people rejected the idea 
by a vote of seven to one. The 
referendum was inspired by the 
present industrial crisis. Com- 
munist elements got through a 
petition which confronted 
Switzerland with this issue. 

subjects into the islands shows, 
ana the United States will 
forever lose control of this im- 
portant point in the Pacific, 
which is on the highway of her 
Asiatic and Australian trade. 

The writer is editor of the 
Middle East Quarterly. He 
contributed this comment to 
The Washington Post. 

1922: Swiss Property 

LAUSANNE — Switzerland 
administered a smashing defeat 
to the advanced Communistic 
principle of the confiscation of 
private property for State pur- 
poses. In the first referendum 
ever held on this 

1947: Lethal Sabotage 

PARIS — Sabotage killed six- 
teen persons and hospitalized 
twenty-seven others yesterday 
[Dec. 3] when a Paris-LiUe ex- 
press was derailed three miles 
south of Arras. The first incident 
of mass homicide to be attributed 
to the current strike wave was 
one of six derailments reported 
during the day. The legislature 
approved, by 412 to 183, a mea- 
sure imposing imprisonment and 
heavy fines on those found guilty 
of obstructing non-strikers 
through threats of violence. Only 
the solid Communist party bloc 
voted in opposition to the fines 

Or f 

■i)[ p 

banking crisis poorly for seven years. 
Until recently, politicians were scared 
to shat the weakest banks or to discuss { 
using public funds to shntfe up others. 

In Thailand, bad bank loans resulted - 
from inept or corrupt lending -toj 
favored insiders; bank supervision (as : - 
in Japan and South Korea) was lax. 

China’s economic growth will slow, 1 
and this could expose hugp problems in • 
icbanlringsy5ttaL lihasIemheavilyto - 
state-owned firms that employ more 
rhfln 100 million Chinese. Many o f those - 
Vans cannot be repaid, and streamlining - 
die state-owned companies would raise " 
unemployment. To cut costs, mmeeded •’ 
workers would be fired. 

With booming economies, Asian so- \ 
cieties managed to reconcile local cus- •“ 
toms and global commerce. This ac- ' 
commodation is now breaking down, * 
for better or worse. 

The crisis could be therapeutic. It 1 
could jolt societies to abandon corrupt 
and outdated practices t h at ha m per par- ' 
ticipation in the world economy. The 
pressure of events may force changes 
that leaders could not make alone. 

Butthc pressure of eventscoold prove - 
a seedbed of social unrest and nation- - 
fliism. Economic crisis could breed 
political crisis, which could prolong eco- * 
nomic crisis. At best, recovery would be 
postponed. At worst, the twin crises * 
would be more unpredictable and ex- > 
plosive than either alone. 

Washington Post Writers Group. 

. r ‘.r* 

. I,; 

' -‘-.i A'i 

• ■ 

: 5 1 

-- — U 1 

ticular. It is understandable that • 
some Americans would relish ■ 
watching the Japanese and ' 
their acolytes get into trouble. * 

Asia’s achievements, mira- 
culous or not, may be measured i 
in its cities and villages and in • 
die well-being of its people. 1 
When you consider how ; 
quickly the Asian economies J 
rose in the first place, it is ob- 5 
vious that they' will not stay 
down for long. They will re- i 
form, as they must, and grow * 
leaner, cleaner and tougher in i. 
the process. 

America, too, had its cur- ‘ 
ren cy crisis, its stock market ■ 
crash and its savings-and-loan " 
scandal. And the United States * 
came back. So wifi Asia. 

nomies. This means that a mon- 
etary policy suitable for most of 
Europe might not be suitable for 
the United Kingdom. 

Opinion remains divided, in 
the majority favorable to mon- 
etary union but again with an 
entrenched popular and polit- 
ical minority hostile to any sub- 
stantial British concession to 
centralized power in Europe. 

The Conservative govern- 
ment ousted from, office last 

S was devastated by its in- 
division on Europe. Out 
of office, its new leader, Wil- 
liam Hague, has attempted to 
impose a firm anti-European (as 
well as pro-fox hunting) party 
line, but certain of the barons of 
the parly reject it, including Mr. 
Hese trine and the former chan- 
cellor of the Exchequer, Ken- 
neth Clarke. Thus wall the in- 
ternecine struggle go on. 

Mr. Blair’s method for nav- 
igating this turbulent strait is to 
declare that his government fa- 
vors British entry into monetary 
union, but not yeL If the single 
currency is a success after its 
launch next year, will those who 
have dawdled find themselves 
left decisively behind? 

The partem of British-Euro- 
pean relations since the war has 
been of British rebuffs to Eu- 
rope, followed by efforts to 
catch up with the others when it 
was too late to be a leader. Mr. 
Blair is doing it once a gain 

International Herald Tribune. 

Los Angeles Times Syndicate. 


2irr i 

;&■ • 

S'.' y 




- From LB J, a Lesson 
For Reality Fudgers 

By Jim Hcagland 

W ASHINGTON — A bad dency to avoid disaster in Viet- 
cold and the slowing of busi- aam, but be willfully ignored it 
less over a national holiday let me fastening instead on arguments that 
spend the Thanksgiving weekmd , Jit his domestic preoccupations, 
with Lyndoo Johnson, whose ex- A striking example was his re- 
periences could provide some use- pealed use; m his private coover- 
iil insights for die affable young ■ sations with Washington's political 
nan from Arkansas now sitting ii bosses, of his view that America 
jLBJ’s place- inthe Ova] Office. was committed by treaty to defend 

f The insights are extrapolate? Sooth Vietnam at virtually any 
from a reading of “Taking cost. Senator Richard Russell, the 
ptarge,’* the recently published hawkish Georgia Democrat, sug- 
jntimate self-portrait that Mf. gested otherwise in a conversation 
[Johnson painted of himself in con- on Vietnam on May 27, 1964: 
jversarioos he secretly taped.. The LBJ: How important is [Viet- 
enmscripts of the capes, edited by nam] to us? 

^fichaei BeschJoss into book Russell: It isn’t important a 
form, are the next best thing to a damn bit. with all these new mis - 
Jseance with America’s 36th pies- sile systems, 
jdent, who ruled Wa^hingon LBJ: Well, I guess it’s impor- 
whent first cams to this town * taut to us — 

[ Since then, whenever 1 1 have Russell: From a psychological 
;watcbed leaders such as Jacques standpoint. 

Chirac of France or Boris. Yeltsin LBJ: I mean yes, and from the 
bf Russia work a room or get. car- standpoint that we are party to a 
pied away with emotion titering a treaty. And if we don't pay any 
crisis, Lyndon has invariable come attention to this treaty, why, I 
io mind, favorably or otherwise, don’t guess they think we pay 
jLarger than life, manipulative per- attention to any of them, 
eonalib'es who generally di them- Russell: Yeah, but we’re the 
Helves more damage than their op- only ones paying any attention to 
portents ever could alwaysrcmind itf 

me of the Texan who yas the LBJ’s real reason at this point is 

politician’s politician. I 
' Bill Clinton is too careful, too 
JegalisticaUy minded ancr too re- 
luctant to use raw power ever to be 
mistaken for LBJ. But these tapes 
provide valuable glimpses into the 
problems chat every president 
jfaces, particularly in .frying to 
mesh domestic political impera- 
tives with the far mote abstract 

provide valuable glimpses into the 
problems chat every Ipresident 
jfaces. particularly in.-pying to 
mesh domestic political impera- 
tives with the far moje abstract 
demands of foreign p obey. 

! Great abstractions can drive na- 
tional engagement The Crusades 
pi Europe, the Cold War, the open- 
ing of global markets/are slogans 

S arguments that lave helped 
lers harness energy and focus 
ntion on national potions. , 
j But abstractions are also dan- 
gerous in policy, as in life. They 
become more important, than the 
goals they are meant :o facilitate, 
i They replace rational examin- 
ation of costs and benefits and of 
[he chances of success. They be- 
come weapons in arguments with 
rivals and opponents rather than 
guidelines for action that need to 
pe constantly re-ejtarained. 

[ Such was the case of Vietnam 
and President Johnson. The tapes 
t»im an astonishing picture. LBJ 
had available theiinfoimation and 
advice he needed parly in his pres- 

mm fee 

political challenges he perceives 
that Henry Cabot Lodge, then the 
U.S. ambassador in Saigon, and 
Robert F. Kennedy pose to him. 
He believes that both will accuse 
him of being soft on Vietnam. 

I will get out of Vietnam as soon 
as Hanoi agrees to the neutral- 
ization of the South, he says over 
and over, setting as his condition an 
outcome that his advisers know 
North Vietnam has rejected. 

Nothing remotely resembling 
Vietnam looms on the horizon for 
President Clinton. But the John- 
son experience is a useful remind- 
er as Mr. Clinton juggles Iraq, 
Bosnia, NATO expansion and the 
rest He must resist the temptation 
of retreating into abstractions to 
explain away the world’s hard 
edges and difficult choices. 

Mr. Johnson was not wrong to 
pay attention to the problems of 
domestic political management in 
dealing with foreign policy. But 
he came to grief by failing to 
recognize which whs which, by 
failing to see where justification 
(for actions that served his own 
reputation and fortunes) began 
and where reality ended. 

The Washington Past. 





COOL. ^ 

“Los Angeles. Times Syndicate 

Rating Asia 

Regarding ”, Asian Storm Soaks 
Ratings Firms, Credibility Takes 
a Hit Over Slow Reporting” 
(Nov. 22): 

I am writing on behalf of 
Moody’s Investors Service to 
place some events in context 

We became concerned about 
the buildup of short-term debt in 
Thailand in the 1990s. In the 
spring of 1996, we placed Thai- 
land’s short-term foreign cur- 
rency borrowing ceiling on re- 
view for possible downgrade. 
When we dad that, Moody's was 
severely criticized. We were told 
by officials and investment 
bankers that all was well in Thai- 
land, and we even saw commen- 
taries published by another ratings 
agency supporting this. 

Moody’s strongly disagreed. 
For quite some time, our concerns 
were ridiculed, but we neverthe- 
less stood by oar opinion. 
Moody’s argued forcefully that 
the buildup of short-term debt was 
unsustainable. How different sub- 
sequent events might have been if 
our concerns, which were voiced 
more than a year before die fateful 
devaluation of the baht, had been 
take more seriously. 

Instead we were told that we 
did not “understand” Thailand. 
We were told that we did not 
understand Asia and that all was 
welL On the other hand, our ex- 
perience in examining credit told 


us that whenever any firm or 
country builds up a large short- 
term debt, that firm or country is 
exposed to changes in market con- 


An analogous problem oc- 
curred in die case of South Korea. 
Historically, Moody's has bad a 
one-notch lower rating on Korea 
than the other major agencies. De- 
spite that, and before the others, 
we changed the medium-term out- 
look to negative in June of this 
year. Again, we were told that the 
problems faced by Korea were 
only temporary; the current ac- 
count balance was improving — 
everything would be welL It cer- 
tainly wasn’t 

By the summer we felt com- 
pelled to place die short-term bor- 
rowing ceilings on review for 
downgrade as our previously and 
publicly expressed fears came 
closer to reality. This time, 
however, our warnings were more 
closely heeded. Once again (as 
had occurred with Thailand) mar- 
ket participants who had told us 
only months before that we were 
exaggerating the problem now 
told us we hadn’t done enough! 

Despite the criticism and 
second-guessing, we believe that 
oar methodical approach to these 
sovereign ratings has shown its 

After all, we are not “rating” 
countries but, rather, rating the 
risk of default on publicly traded 
bonds issued by governments and 

Intimations of Mortality, 
Or the MeMng of Decaf 

By AUjwojx J. XJeiman 

N EW YORK — Wbeodid tbe ; 

men I’m attracted to- begin.. 
drinking decaf? " * . 

It seems that only yesterday .; 
these rugged individualists could, 
enjoy a cup of strong coffee r- - 
sometimes even two or three — 


and suffer no 21 effects. Now 
they’re all taking antacids and 
stacking brides under the head- 
board to prevent addreflox. 

Last week, while waiting in tine 
at i^y local Ingel shop, I spatted a 
rather dashing man, in his fate 40s 
or early 50£, Who glided up toithe 
counter in jeans and work boots 
and ordered a large coffee. I 
thought he was a keeper until he 

sold on international markets. 

We still feel that we are for 
from an actual sovereign 
fauft in both the cases of Thailand 
and Korea, although we must ad- 
mit, as noted by recent rating ac- 
tions, that the risks have obvi- 
ously increased. 

It is important to remind market 
participants, once again, not to 
be excessive in their evaluations 
in times of apparent euphoria or 
crisis. Perhaps our greatest value 
is to improve market efficiency 
through analysis that sees through 
these cycles and dispassionately 
analyzes tire credit risk. It is prob- 
ably an indication of the correct- 
ness of our position that we are 
criticized on both ends of the eu- 
pboria/crisis cycle. 


New York. 

The writer is managing di- 
rector of the sovereign risk unit 
at Moody's Investors Service. 

About France 

Regarding "What Sort of 
Friend. Is a Resentful France?" 
( Opinion. Nov. 28) by Richard 

France, as wdl as other EU and 
NATO nations, has a Mediter- 
ranean shore. The United States 
does not It would be “insuffer- 
able arrogance” if France asked 
to patrol die shores of Lake 

It is presumptuous, to say 
the least, for the United States 
to reject European requests to 
name a European admiral to 
head NATO’s southern com- 



After siding with the Allies 
during World War n, France, 
China and Russia all became op- 

S onents of America, to different 
egrees. The common denomin- 
ator in this opposition is that all 
three countries are bastions of 
hard-core socialism. It is this 
ideological difference with, the 
United States tint fuels France’s 


France has been unable to 
openly reveal its socialist zeal 
and hostility to" capitalism be- 
cause of geography. Unlike 
Russia and China, Fiance is a 
small country surrounded by 
Western nations. 

However, die French have 
made the best of their predica- 
ment by only grudgingly giv- 
ing their support to Western 
policies. This also works to in- 
crease their prestige in world 

Mr. Cohen’s playful article 
shows the continuing ability of 
this thom-in-your-side strategy to 
elicit reactions disproportionate 
to the importance of France. 


sheepishly added* in* a whispo - . 
“Am make that half decaf. ’ ’ This 
oehdTowiud^ decaffeinated coffee 
seerhstobe a telltale sign that baby 
boouSas are aging. 

Older generations seemed to 
have escaped tins fate. My mother 
stiB drinks one cup of real coffee 
every monimg. - 

Most of my. con iam a orari w 
have quit smoking and mink al- 
cohol only occasionally. We work 
long hours, exercise like crazy 
and are tired all the time. There’s 
never enough timoto finish read* 
iog the newspaper, and we need 
reading glasses to make out the 
crossword puzzle. 

1 used to be able to see, and I 
used to be able to drink regular 
coffee without heartburn, and I 
used to date young men who. 
drought people could do anything 
they set their minds to. Now a cold 
comes on suddenly and lasts two 
weeks, naps are a daily ritual and 
dinner is eaten earlier rather than 
later. If we stay out all night we 
have cotton for brains for days. 

I don’t know when this : all 
happened, butl’m going toinvife a 
friend over so we can do the cross- 
word puzzle together. He’ll bring 
his reading glasses, and Fll make 
one strong pot of decaf coffee. 

The writer, an author cf chil- 
dren’s books, contributed this 
comment to The New York Times. 

Newfound Ailments 

M ANY of my friends have 
recently become addicts. 
They have not taken up some new 
drug or habit. They tc doing the 
same thing they have been doing 
far years. They smoke. 

They became addicts because 
of a push, socially and legally, to 
“medicalize” smoking. 

before in America. People who 
drink too much have long since 
ceased to be seen as moral railmes 
or sinners. Now they are viewed as 
diseased. Children who can’t con- 
centrate on homework were once 
thought of as bad students. Now 
they might get a diagnosis of at- 
tention deficient disorder. 

— Kevin Wildes, a Jesuit 
priest and associate director cf 
Georgetown University’s 
Kennedy Institute of Ethics, 
commenting in 
The New York Times. 

.nr'l •■’Mi 

- jn*’"" ■ -.o era ““-iib ynrai-vv *• -mnsrn U 

.’•jm !i • -jhn* #, abr. n»u. 

*£•••• iV-i-.i . -..ft 

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The only thing comparable about 

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Call tor your free 
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telephone numbers 

Just as each wnHdly destination offers 
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Such dedication to perfecting the art 
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.Meet all. any leading Hotel can be 
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No wonder the only thing more 
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Discover tor voursdf why each bold 
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-j Austria 

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f«en vital -tele* Raycf 
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: Koroi Socfw 

j Belgium 

frysseis -o/ol Winds* Hotel 
i Croatia 

r*irob Hotel Esplanade 

J Cyprus 

.nfjr.ot imainus 3eorh Hotel 
r-.forvas Pagrios Amamm. Beocti 

J Hona 


» Holst d'Angtetere 
! England 

aotowav Inc- Lygon Arms 
The BuAetev 

'i G&sdge s 
i tno Cortnow*Tt 
the Doi=noM« 

Four Seasons Hotel 
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I Pai 

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f Rnkmd 

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Ccp-Ponat Hotel Royal RMera 
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Batten- Boden Brerner's Park-Hotel & 


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fflkacw Forest) Howl ROmwood 

Berih Grand Hotel Espfanods 
Kemonsui Hotel Apten 

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Kempmsfa Hotel Atlantic 

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FuWenrtof Lecwg 
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Athens Hotel Grande Bretagne 
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Amsterdam Hotel de 1‘Ewope 
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Venice Bauer GnlnwaW 

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Venice Lido Hotel Excels** 

Vwona Due fem Hotel Bogiorl 

Luxembourg City Hotel Le Royal 

Monte Carta Hotel da Ports 

Orto Hotel ContlnenlQl 

fEnl M 


Wareaw Hotel ft«a< 



Aimocdo de Pflia Hotel via Vita Poic 

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Usbon Hotel do lapa 
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Moscow Kempinsld Hotel 

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Auchterarder Gteneogtes 
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Geneva Hotel des Betguos 
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Lucerne Paioce Hotel Luzern 
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Mom-Peiefln Lo Mtodor Resort ord 

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St. Motto Boatutt’s Palace Hotel 
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EC ia ChomPtrioce 
United Arab Emmeries 
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The Royal Abjor Hotel 

Mombasa Serena Beach Hotel 
Naked Nakobi Serena Hotel 
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Grand Bate RoycriPakn 

Mancicech La Mamounia 
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Carihoge The Reddence-TUnb 
Ham Meldei 

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Metsoune Roatmon's Regency 

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KuataLumpu’ Hotel btana 

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Karachi Peal Continental Hotel 
People's Repubtc of China 
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(Canton? White Swan Hotel 
Shanghai Garden Hotel Shorten 
Shanghai JC Mandate 
the Vfesttn Id Ping Vbng 

PhD pplnes 

ManSa Mandarin Oriental 
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Sktgcpore City me Mandarin 

Marina Mandarin 
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Taipei The FJTz Hotel 
The Sherwood 

Bwigicok The DuritThcrt 

ChoAm/HuaWn DuSt Resort and Pole 

tRabl DiWt Royavodee Roaori 


Ruricet Du<0 Laguna Resort Hotel 
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Morriiec* Rtb-CorBon Kempinria 

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Killer Says He Followed 
Mrs. Mandela 9 s Orders 

Hands ‘Full of Blood, ’ Ex-Bodyguard Says 

The Associated Press 

MadikUela-Mandela ordered the 
killings of suspected police informers 
in the late 1 980s. including the 14-year- 
old activist Stompie Seipei, her former 
chief bodyguard testified Wednesday. 

Jerry Richardson, a convicted mur- 
derer, told the Truth and Reconciliation 
Commission his hands were “full of 
blood’ 1 from carrying out orders from 
President Nelson Mandela’s former wife 

to kill impimpis, a term anti. 

Peter AndmwtfApaicc Rwte-Ptew 

Winnie Mariikizela-Mandela smiling Wednesday as she listened to 
testimony from a former bodyguard who implicated her in two murders. 

activists used to mean police ii 

Mr. Richardson, who admitted hav- 
ing been a police informer, mentioned 
two murders that he had committed on 
orders from Mrs. Ma rlilrira la- Mandela 
— of Stompie Seipei and a woman 
named Kuki Zwane. 

“I killed Stompie under the instruc- 
tions of Mami, ” he said, referring to 
Mrs. Madfldzela- Mandela by the name 
used by many at the time for the woman 
who was known as the mother of the 
nation. “Mami never killed anyone, 
but she used us to kill a lot of people. 
She does not even visit us in prison, but 
she used us.” 

Mr. Richardson’s testimony was the 
strongest in eight days against Mrs. 
Madirizel a-Mandela, coming as it did 
from an insider of her so-called Man- 
dela United Football Club group of 

Mrs. Madikizela-Mandela’s testi- 
mony, which had been expected Wed- 
nesday, was postponed until Thursday 

after Mr. Richardson’s rambling and 
sometimes erratic testimony. 

After lunch, he repeatedly disrupted 
proceedings by challenging questions 
from Mrs. MadilriMla-Manriaia’s law- 
yer. Ishmael Semenya. Archbishop 
Desmond. Tutu, chairman of the com- 
mission, repeatedly admonished him to 
give direct answers. The audience erup- 
ted in laughter when, asked why he had 
applied for amnesty from the commis- 
sion, Mr. Richardson responded that he 
was “trying his luck.” 

He also alleged that agents of South 
Africa's former while-minority or 
apartheid government had regularly 
visited Mis: Madikizcla-Mande la at her 
home a n d intimated that one had h«H a 
love affair with her. 

Earlier Wednesday, Mr. Richardson, 
wearing a green suit and carrying a small 
soccer ball when he arrived, explained 
how Stompie Seipei and three other men 
were whipped, beaten and thrown in the 
air to land on the ground by football club 
members led by Mrs. MadDdzela-Man- 
dela in December 1988. 

Mr. Richardson said he protected Mrs. 
MadJd zela-Mandela at his 1990 trial, 
saying she was absent when the assault 
took place. “You see, I loved Mami with 
all my heart,” he said. “I would have 
done anything to please her.” 

But, he addecC after spending “so 
many years” in prison without a visit 
from Mbs. Madikizela-Mandela, “I 
have woken up to the fact” that she was 
working with apartheid agents. 

KOREA: IMF Aid to Toted $55 Billion 

GORBACHEV: Last Soviet Leader Pays Tribute to Capitalism's Greasiest Offshoot 

Continued from Page 1 

slice of pizza, but sips coffee as he 
watches nis granddaughter dig in hap- 

Though the ad was shot in Moscow 
last Thursday, there are no plans to 
broadcast it in Russia. Esteemed in die 
West as the statesman who ended the 
Cold War, Mr. Gorbachev is extremely 
unpopular in Russia, where he is blamed 

economy far enough. 
When he ran for the presidency last year 
— his first campaign for public office — 
he won less than 1 percent of the voce. 
To put it another way, Mr. Gor- 

bachev’s endorsement of Pizza Hut 
could well cause sales in Moscow to 
drop dramatically. 

41 Here in Russia, it will be understood 
one way,” Mr. Gorbachev said of the ad, 
which has already been ridiculed in the 
Russian press. “In other places, it is 
nothing unusual. I see my colleagues, 
former presidents, and your presidents, 
too, taking part in campaigns.” 
Actually. Mr. Gorbachev may be 
for statesmen, 
and Helmut Kohl 
commercials. Even in 
America, where celebrity endorsements 
are part of the cultural fabric, no former 

ad for the Houston Astros, the baseball 
team, as a favor to its owner, Drayton 
McLane. His vice president, Dan Quayle, 
did a commercial in 1994 for Frito-Lay 
potato chips and was paid $50,000. 

Since leaving the Kremlin, Mr. 
Gorbachev has marketed hiroself as a 
newspaper columnist, memoirist and 
highly paid speaker, and made a cameo 
appearance in a Wim Wenders art film, 
improvising a soliloquy on Dostoyevsky. 

He has already made an ad for Apple 
computers in Germany, but he said that 
by starring in the Pizza Hut commercial 
he was taking a step he had previously 
considered “unsuitable” for someone 

Yeltsin had stripped him of much of the 
office space he was allotted after he 
resigned from office on Dec. 25, 1991, 
and had deliberately thwarted his fund- 
raising efforts. 

Continued from Page 1 

offered Thailand and die $23 billion 
promised Indonesia in recent months, as 
well as the $48 billion offered Mexico 
about three years ago- Mr. Camdessus 
pi iH he hoped the loans to South Korea 
would help stabilize the region. 

The administr ation of President Bill 
Clin ton applauded die bailout plan- of 
one of itsley Asian allies. “We have a 
v ital national economic and security in- 
terest in helping Korea to restore market 
stability as soon as possible,” Treasury 
Secretaiy Robert Rubin Said in a state- 
meat. The United States, which is the 
largest shareholder in the IMF, playeda 
major role in. pushing for Seoul to adopt 
stem reform measures. 

[Mr. Rubin said South Korea would 
probably not need more than $35 billion 
of the bailout package, Bloomberg News 
reported from Santiago, where Mr. Rubin 
was attending a meeting of finance min- 
isters from Neath and South America. 

["The np-fix>nt money was designed 
to be more than sufficient to deal with 
the issue, given the strength of the pro- 
gram and on the assumption that the 
program is diligently pursued,” he said. 
**Tne backstop money is there if for 
some reason there is a need for ad- 
ditional resources.”] 

The $5 billion U.S. contribution will 
come from the Exchange Stabilization 
Fund, a pool of money that the president 
can use at his discretion to maintain 
stability in currency markets. Use of the 
fund does not require approval by Con- 
gress, where there is some resistance to 
such international bailouts. 

The package still needs formal ap- 
proval by the IMF executive board, 
which is expected as early as Thursday. 
Until then, full terms of (he agreement 
were not hieing made public. 

Nevertheless, officials and press re- 
pents say Seoul agreed to curb growth, 
clean up ailing banks through mergers or 
closures and open its market more to 
foreign goods and investors. 

Seoul will also put some restrictions 
on its sprawling industrial conglomer- 
ates, or chaebol, whose free-wheeling 
spending is considered a major cause of 
the nation's bad debt problems. 

Hie Korean stoat market, after 

plugging early in the day; rallied at the 
end of trading to close up 065 percent, 
endhg nine days of consecutive oedinc. 

Tte rally was fueled by reports that 
die IMF agreement would raise the limit 
on how much of a Koreaa Company’s 
stock can be owned by foreigners from 
26 pexent to 50 percent immediately 
and to 55 percent next year. That por- 
tends aa influx of foreign money into the 
stock rnarkeL \ 

The lescue package was urgent be- 
cause South Korea’s foreign cmreocy 
reserves are believed to be; nearly de- 
pleted, nmMng it difficult fqtthe nation 
to pay its forcigu debt. Somti$66 billion 
of mat drotis due within ayeas and about 
$20 billien by the end of this year. 

With fee new austerity ^program, 
many economists predict unemploy- 
ment, now at about 2S percent, will 
double or even triple as widespread lay- 
offs mark a nation in which lifetime 
employmeat is considered a right. 

Lee Jeorg Ja, head of research for the 
Seoul branch of HSBC Jamies CapeL, a 
securities hause, said she would not be 
surprised to see as many asa quarter of 
the companies: listed on Korea’s stock 
exchange gobiaknipt. She said the eco- 
nomic downts n would last two years, 
but other anal sts said they thought it 
would be long* r. 

“I would sa we’re -not 
any return to g owth over 
the next few y sars,” said 
head of researc at J. Henry ! 

Seoul. South K >rea is expected to grow 
about 6 percen this ycarbut the target 

for next year 
half that 

In addition 
there was also 
nation had 
economy. It ap, 
gram, which was 
behind foe seen 
obtained some 

“With the 

Korea's financial i 
will virtually be injpontrol of foe profits 
and management !pf Korean compa- 
nies,” a newscasseaon the state-owned 
Korean Broadcasts > System said Wed- 
nesday night He ; Iso warned, “U.S. 
automobiles and Ja anese products are 
expected to pour info Korea.” 

Executives at Pizza Hut seemed dis- J^TT A 1/ kiAT M rr J n_ a W 

mayed that Mr. Gorbachev had spoken 1 1 i~l iJ a wtJm L/TluST JtiOSSUrO tO t^tlOngC 

about his coming cameo so soon, and ° 

would not disclose when foe ad was 
expected to run or provide a still ptao- 

Con tin lied from Page 1 

president has taken quite so bold a step. . of his standing. 

In 1996, George Bush made an unpaid He complained that President Boris 

tograph from foe video. 

But one company executive explained 
Pizza Hut’s interest in attaching Mr. 
Gorbachev’s name to its pizza this way: 
“We are constantly striving to take oar 
advertising to a new edge. And we have 
a new co mm ercial that the whole world 
will want to watch.” 

Ex-Energy Chief 
Cleared by Reno 

Washington Pusi Service 

O'Leary, who concluded a rocky 
tenure as secretary of energy only to 
face allegations of wrongdoing 
growing out of foe campaign fi- 
nance controversy, has beat cleared 
of improper behavior by Attorney 
General Janet Reno. 

Ms. Reno said .Tuesday that 
Justice Department investigators 
found “no evidence” that Ms. 
O'Leary was personally involved in 
soliciting a $25,000 donation to a 
charity she beaded from a visiting 
Chinese petrochemical official who 
wanted an audience with her in 

The attorney general said she 
would not seek an independent coun- 
sel to continue the investigation. 

In a statement issued Tuesday. 
Ms. O'Leary called the meeting 
with the Chinese official “an ex- 
pected diplomatic courtesy” and 
foe allegations “ludicrous.” 

INQUIRY: Reno’s Refusal to Name Counsel Spares White House 

Continued from Page 1 

tion’s premier law enforcement agency. 

Still, had Ms. Reno gone the other way, 
matters would have been much worse far 
the White House, and Mr. Gore, more so 
than his boss, stood to suffer acute polit- 
ical damage regardless of foe ultimate 
legal outcome. Previous investigations 
by independent counsels have dragged on 
for years, and the one rejected by Ms. 
Reno surely would have lasted at least 
until the presidential election season. 

Far beyond the immediate issue of the 
40 telephone fund-raising solicitations 
Mr. Gore has acknowledged making 
from his White House office, an outside 
probe would keep alive at least in foe 
political arena the larger questions sur- 
rounding the tactics employed by the 
Qinton-Gore campaign to collect large 
sums of campaign cash. 

“Absolutely, he is better off,” said 
Tbm Rath, the Republican national com- 
mitteeman from New Hampshire, home 
of foe first presidential primary in 2000. 
“He doesn't have to fight a two-front 
war — with lawyers on one side and 
politicians on foe other.” 

A Republican pollster. Bill MclnturfF, 
drawing on the case of one of bis clients, 
Fife Symington, who resigned as Ari- 
zona governor after being convicted of 
filing fraudulent financial documents, 
said, “It is not a happy thing to go 
through an election, as he did, when 
you're under federal investigation.” 

But Mr. Mclnturff reinforced Mr. 
Rath’s view that “the tarnishing of 
Gore ’s image has already happened: The 
visit to foe Buddhist temple will remain 
in people’s minds. The question has 
been planted, and it won’t go away.” 

The impact on Mr. Clinton, on the 
other hand, seems less direct To dale, the 
campaign controversy has only dented 
his strong standing in foe polls. With no 
more elections in his future, foe primary 
political concern was foe effect a special 
prosecutor would have on his ability to 
govern and his historical legacy. Accord- 
ing to several pollsters and scholars of the 
presidency, Mr. Clinton came away from 
the Reno decision as strong — or as weak 
— as he went into il 

"I’m not sure it will make a dif- 
ference," said Jeffrey Tubs, a Uni- 

versity of Texas political scientist “He 
seems to me remarkably unfazed by all 
of this. But if you think he’s not ac- 
complishing much now, he won’t be able 
to do more because of tins.” 

Linda DiVaD, another Republican 
pollster, saw negative fallout for foe 
president foe vice president and foe 
Democrats in general. 

“The credibilityof the attorney general 
is now in question,” she said, “and that is 
as damaging to Clinton as John Mitcbefl’s 
downfall was to Richard Nixon.” Mr. 
Mitchell was foe attorney general im- 
plicated in Watergate and imprisoned. 

“This has foe potential to be a sig- 
nificant campaign issue next year,” by 
“intensifying the anger of core Repub- 
licans against the whole Clinton admin- 
istration,” she added. 

Bat Ed Saipolus, a Democratic pollster 
in Michigan, said: “The public is not 
paying as much attention to all this as the 
Republicans would tike. As long as the 
economy is good, they will pass this off as 
typical of whatpoliticians do. They don’t 
see that what Cunton and Gore have done 
has harmed them personally.” 

foe widespread view around the 
headquarters of the 50 or so chaebol that 
the IMF sees them as foe enemy-in foe 
battle to put South Korea’s housein order 
— and open its doors to foreigners. 

The Federation of Korean Industries, 
a land of club of chaebol chairmen and 
presidents that operates from its own 
imposing office tower in Yoido, Seoul’s 
financial district, spoke for an entire 
class of mercantile elite to a statement 
issued Wednesday just as the IMF and 
the government came to terms. 

‘ Tn Thailand, Mexico and other coun- 
tries receiving IMF funds, has the IMF 
ever demanded the dissolution of con- 
glomerates?” asked planning officers 
from the 30 largest chaebol “We un- 
derstand that the IMF apparently called 
for resolving the problem of the chae- 
bol’s heavy borrowing practices.” 

The clear implication was that the 
IMF had failed to appreciate the nerve of 
the chaebol each founded by one man 
and almost all still under family control 
in daring to borrow an average of four 
times their worth — and turn South 
Korea from a pauper to a prince among 
mercantile nations. 

“Without foe chaebol bow can foe 
country survive?” asked a senior di- 
rector in foe marketing department of 
Hyundai who asked not to be named. 
Like many in his position, he did not have 
to be told foe terms of Wednesday’s IMF 
agreement to know that he opposed it 

“The IMF is intervening in the sov- 
ereignty of our country,’ ’ he said * ‘Many 
people are afraid of what foe IMF will do 
to the chaebol and to oar country.” 

All foal tte IMF has done, at least 
publicly, is to ask a few pointed questions 


Guilty Verdict 

Continued from Page 1 

Mr. Berlusconi's convic- 
tion was handed down in a 
case involving foe 1989 pur- 
chase by Fininvest of Me- 
dusa, a film company which, 
according to foe court, had a 
reported sale price of about 30 
billion tire ($17 million), 
which in reality was 20 bil- 

According to prosecutors, 
Mr. Berlusconi and four busi- 
ness associates set aside the 
10 billion lire difference for 
an illegal slush fund 

In her final statement, Mar- 
gherita Taddei, foe public 
prosecutor in the Medusa 
case, said that the philosophy 
behind the tampered books 
was to create a slush fund 
“The creator of the system 
was Silvio Berlusconi” said 
Ms. Taddei who had sought a 
20- month sentence for foe 
former mime minister. 

Another Fininvest execu- 
tive. Carlo Bernasconi, was 
also sentenced Wednesday, 
while three other company 
officials were found not 

In another case, Mr. Ber- 
lusconi stands accused of au- 
thorizing bribes by one of his 
companies to Italian tax in- 
spectors in return for lenient 

Also, he has been charged 
with channeling money to 
politicians, including foe 
former Socialist prime min- 
ister, Bettino Craxi, now in 
self-imposed exile in Tunisia. 

- , '<■ .. i a 

- .-'I ■ 


, , ,/# ’J/. 

teal Mqpfflfc tonitWBl hat 

SNOWY SNARL — Cars and trucks creeping through slush on the autobahn 
near Erfurt, in eastern Germany, on Wednesday after heavy snowfalls in the 
area. The spell of wintry weather has disrupted transport around the country. 

REACTORS; Canada Is Still Exporting 

Continued from Page l 

policy of aggressively exporting them to 
countries with limited experience in reg- 
ulating, and in some cases simply op- 
erating, nuclear reactors. 

Since 1952, according to one esti- 
mate, Canada’s nuclear "industry has re- 
ceived more tii an $10 billion in gov- 
ernment subsidies. It sold 11 reactors 
overseas, including the two to China. 

But Canada has repeatedly been scol- 
ded by its own citizens and other nations 
for selling reactors to authoritarian gov- 
ernments in Argentina, Pakistan and Ro- 

In 1974, India exploded a nuclear 
device it admitted had been made with 
plutonium from a reactor purchased 
from Canada. 

Yet, the Canadians continue to circle 
foe globe trying to peddle foe same re- 
actors that have proved so difficult to 
manage in their own backyard. One of 
three bids opened by the Turkish gov- 
ernment in October came from Canada. 
And Canadian officials continue trying 
to sell more to Hungary, Indonesia, the 
Philippines and Thailand, not to mention 
repeat sales to China, South Korea and 

“All this has to do with a very deeply 

rooted historic question of technological 
prestige that has its roots in the nuclear 
weapons programs of the Second World 
War,” said David Martin, 'research di- 
rector for Nuclear Awareness Project, an 
environmental group in Ottawa. “Our 
nuclear research effort was a way to try 
to rearrange the world’s picture of 

The government defends the program, 
saying that each export sale creates thou- 
sands of jobs at home. But critics charge 
that the government’s obsession with foe 
reactor blinded it to the project's serious 
shortcomings. . 

A crown corporation. Atomic Energy dren, grandchildrerl 
of Canada, Ltd, was formed in 1952 to perience and show 4 

about how deep foe chaebol are in debt 
and what they in tend to do about it. 

Then, as a finance ministry official pnt 
it, the IMF “urged us to present measures 
to improve their corporate governance 
system as well as financial structure.” 

Blaming South Korn’s troubles on 
foreigners is common] Seme. Finance 
Ministry officials' and Ichaebol execu- 
tives this week have blamed the United 
States for influencing lie IMP to ne- 
gotiate for the reduction of chaebol 
power — and for foreign interests to be 
able to own up to 50 percent of stock in a 
South Korean company. 

“The Utyted States msto have played 
some role t^ehind foe IMF call with foe 
aim of bolding Korean firms in check in 
foe world market,” a man described as a 
senior executive at a leading chaebol 
was quoted) Wednesday m foe Sou* 
Korean presp as saying. That is a view 
that runs deep in society 

“We oppbse freedom fol foreign in 
vestment in financial markets.” foe 
Korean Confederation of Trade Unions, 
which represents 600,000 workers, said 
Wednesday A “Opening of our financial 
markets won’t help solve foe problem. 
Rather, it will bring us into slavery.” 

In fhet, the IMF advised what many 
South Korean officials themselves have 
been urging for years — that the chaebol 
do away with some of foe cozy arrange- 
ments that typically bind a group to- 
gether even though no chaebol actually 
has a single distinct holding company. 

IMF and government negotiators 
agreed in principle that the loose pay- 
ment guarantee's among chaebol sub- 
sidiaries, which commonly buy . and sell 
a wide range qf products from each 
other, are one reason why some compa- 
nies are in such deep trouble. • 

One obvious s Jiutica, demanded for 
years by foreign jankers and investors, 
would be a requii xnent that the chaebol 
issue consolidated statements that reveal 
the precise financi 1 realities of each com- 
pany within each group. Another com- 
monly urged meas ire would be to crack 
down on the syster under which compa- 
nies within a coach 1 extend easy credit to 
one another with l.ttle accountability, a 
system that has bien blamed for huge 
losses. The chaebol with their longstand- 
ing contacts at ma or banks, sop up so 
much credit that ba iks have little left to 
lend small- and met i urn-size enterprises. 

One immediate r suit of the country’s 
fin ancial predicamc it is that foe chaebol 
will have to get i d of money-losing 
entities, many of foe n run by relatives of 
chaebol chieftains ■ rho want their chil- 

maiket the Canadian design, called the 
CANDU — for Canadian Deuterium 
Uranium. One of the strongest selling 
points was the CANDU reactor’s unique 
ability to be refueled while operating. 
This helped the reactors achieve in- 
dustry-leading performance in their 
early years. 

The reactor’s reliance on heavy water 
also made it a formidable producer of 
plutonium, which could be used to make 
nuclear weapons. 

The plutonium can be extracted with- 
out shutting down the unit, and thus in 
comparative secrecy. 

to gain some ex- 
perience and show dfoat they can do. 

“Inefficient companies must go,” 
said Park Ho Won c f LG Securities, an 
offshoot of the I G Group, South 
Korea’s third larges chaebol. “That is 
the lesson we are Tea ning at the expense 
of national pride.” 

Some of the cha« boL, at least, have 
responded by annoincing cost-cutting 
measures that seem t recognize that the 
conglomerates canm t continue amass- 
ing huge debts and hipe to stay in busi- 

On Wednesday, th« Daewoo group of 
companies announce* a 15 percent sal- 

ary cut for executh 
for managers and a ! 

rest of foe 200,000 1 

a 10 percent cut 
on pay for the 
le on foe payroll, 

also likely to 
against wh3t 
workers see as 

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PAGE 10 



Tales of Hiding Gold From the Nazis 

Europeans Trade Stories of Their Doomed Subterfuges During War 


By John Burgess 

Post Service 

LONDON — In September 1943, of- 
ficials at the central bonk of Italy were 
ceitiin of what was coming: The Ger- 
mans who had seized control of much of 
the country would show up at the bank to 
cart off its gold So they hatched a plan: 
hide half die gold and create false doc* 
uments indicating that ithad bees shipped 
to a city about to fall to the allies. 

An underground vault was prepared 
for the gold. Workers built a 9-inch-thick 
wail m front of the door and plastered it 
over, using fans and electric lamps to dry 
it quickly "and make it look old. 

Thai account, offered by rhe Bank of 
Italy , shows that officials in the countries 
that Germany conquered during World 
War II somenmes showed remarkable 
pluck in trying to defend their gold from 
Nazi looting. They used subterfuge and 
lasi-minui«. shipments abroad. They 
launched campaigns of letter-writing 
and court filings aimed at shaming the 
Germans into playing by the rules. 

But they rarely succeeded, generally 
losing (heir ingots to the German Reichs- 
bank. which used it to finance the war. 

As delegates from 4 1 countries met in 
London cm Wednesday for a second day 
to discuss the theft of Europe’s gold and 
what became of it after the war, those are 
among the stories being shared. While it 
is always easier to recount resistance 
than surrender, .some of the tales had 
sufficient credence to be used after the 
war in the counties' efforts to get the 
missing gold back. 

Even before the war began, much of 
Europe felt Germany had its eyes on 

their gold. In a report to the gathering, 
the delegate from the Czech Republic 
said that at the time of the Munich con- 
ference in 1938, which ceded Czech soil 
to Germany, the central bank of Czech- 
oslovakia had sent about 93 percent of its 
gold stock to such foreign depositories 
as the Bank of England. 

After the Nazis re inched in, a German 
representative arrived at the bank, and, 
with a threat of summary execution, 
forced two bank directors to draw up 
orders to the Bank of England to transfer 
about 50,000 kilograms (1 10,000 
pounds) of Czech ggildto Germany. 

Czech officials quietly asked die Brit- 
ish Embassy to block the transfer in 
London, but about half of it was turned 
over anyway, according to the Czech 
account. The other half, which became a 
political issue for British opponents of 
the Munich accord, stayed in London. 

Winston ChurchilL soon to be Bri- 
tain’s prime minister, expressed outrage, 
the Czechs say, calling the transfer ‘ ‘but- 
ter-fingered” and declaring that Ger- 
many would only use the gold to buy 
more weapons. 

Sweden, a neutral country that traded 
in gold with Germany dining the war, 
offered in its statement an account of 
Belgium’s futile attempts to hang onto 
its stock. Some of it ended up in Sweden 
at war’s end. 

Shortly before the war, Belgium en- 
trusted more than 200,000 kilograms of 
gold to the Bank of Ranee. In June 1940, 
word reached officials in Belgium that the 
french had decided to move much of their 
own gold to Dakar, the capital of Senegal. 
The Belgians sent word: Take ours, too. 
please. Traveling aboard French Navy 

vessels, the gold arrived in Dakar on June 
28. But with Germany soon in control of 
France through the Vichy government, 
the gold was returned from Africa, com- 
ing in through Marseilles. Later it was 
transferred to the Reichsbank, in a 11 “sale” 
forced by Germany. 

In a communication to the German 
government in December 1942, officials 
at the Belgian central bank protested the 
terms of the transaction and said the bank 
would not accept Germany's payment in 
marks, which could only be used to buy 
German goods. France supported the Bel- 
gians, saying the gold should be relumed. 
The Germans ignored the demands. 

The Netherlands tried to send much of 
its gold to London in the days before Nazi 
troops crossed its border. Bat a small 
boat taking ir to a larger one for shipment 
across the channel hit a mine and sank. 

The Germans managed to salvage 
nine and a half tons of gold from the 
wreck. In 1941, a German court of ar- 
bitration granted them the right to keep 
it. even though the site was not in in- 
ternational waters. The Dutch appealed, 
but the court never took up the issue 
through the duration of the war. 

The Italian ruse, probably the most 
courageous recounted in the documents, 
was ultimately a failure. 

The Bank of Italy reponed that, ac- 
cording to court testimony after the war, 
the bank's governor at the time. Vin- 
cenzo Azzolini, was called to the Min- 
istry of Finance after the gold was hid- 
den and got the impression that the 
Germans knew precisely how much the 
bank had. Fearing reprisals, he ordered 
the wall torn down ana the gold restored 
to its normal place. 


n j o ./ j /• » V m lt J since the government ii 1992 cancele* general election 

Zct South Africa farmer milieu that Muslim fundamentalists were pois> to win, (Reuters) 

JOHANNESBURG — A second white farmer and his rj Q r/y* i '*• I* 

JOHANNESBURG — A second white farmer and his 
wife have been murdered in South Africa, prompting a 
warning Wednesday by a rightist leader that farmers would 
take the law into their own hands to ensure their safety. 

The police said the victims were found shot on their farm 
in eastern Mpumalanga Province. On Sunday, another 
farmer was shot dead by burglars in North-West Province. 

The latest killings bring to at least 16 the number of white 
farmers murdered in the past month. 

The leader of the rightist Freedom Front, Const and 
Vtljoen, said that farmers had had enough and would “take 
responsibility for their own safety.’ ’ (AFP) 

U.S.- Cuban Effort onfigration 

HAVANA — A senior' 
part of their cooperation 
and Havana have exc 
smuggling of illegal 
The official, John HamA 
bilateral talks, said 
proposed and held a 
thoriums in September to 
documentation used by' ’ 

migration' rnes, Washington 

infonnaxJi Qn how to stop 

Easier French Visas for Algerians Pre-election Gunfire HUsfamaica 

PARIS — France will ease visa requirements for Al- 
gerians to show its solidarity with “a martyred people’ ’ who 
are the target of violence. Foreign Minister Hubert Vedrine 
told the National Assembly on Wednesday. 

Mr. Vedrine said the Socialist-led government sought to 
make relations with the French easier so that Algerians did 
not feel abandoned. 

Civil strife has claimed about 65,000 lives in Algeria 

KINGSTON, Jamaica 
wounded by pre-election 
two major parties traveled 


f, head of frU.S. delegation ai 
1 that the^ nited States hatf* 
' for Cut** immigration au- 
wm'.<amples of false 
smuggjlngickets. (Reuters) 

least }• people were 
when iitofcades from 
gh August Wn, a volatile 


, M upon 

Tuesday. Fifty-four can didates bvep-esentetff^nselves fra 
the parliamentary elections scheduled for Dec" g. (Reuters) 







We can now fly you to one third of the eath. hot bid, 
considering the other two thirds is covered by wate. 

C.ffil.-Jh. On, vm# f-n«i LH^H^rhn 

OTTAWA — More than 
125 nations on Wednesday 
began signing a treaty ban- 
ning anti-personnel land 
mines, weapons that Prime 
Minister Jean Chretien of 
Canada said caused "exter- 
mination in slow motion.” 

The Canadian foreign min- 
ister. Lloyd Axworthy, who 
has lobbied fur the ban over the 
past year, was the first to sign, 
and Mr. Chretien immediately 
presented Canada’s instru- 
ment of ratification to the 
United Nations secretary-gen- 
eral. Kofi Annan. 

"Given die pressure from 
the people, from the grass- 
roots. I realty do not think any 
government can sit out tiiis' 
movement for long.” 1 - Mr: 
Annan said "It’s only a mat- 
ter of time.” 

Mr. Chretien said more 
than ! 25 conn tries would, sign 
the treaty Wednesday and 
Thursday, but the world’s 
biggest military powers, the 
United Stales, Russia and 
China, were only observers at 

:aty er 

Canada was followed by 
Norway and South Africa, in 
tribute to their roles in ral- 
lying other nations to support 
a ban. 

Most Middle East coun- 
tries. including Iraq, Iran, Is- 
rael and Syria, as well as Af- 
ghanistan. were also not 
signing, but most nations of 
Africa. Latin America and 
Europe were. 

' 'The most powerful voices 
here in Ottawa will not be the 
ones uiside this conference 
site.” Mr. Chretien said. 

"They will be the cries of 
the victims of land mines, from 
the rice fields of Cambodia to 
the suburbs of Kabul from the 
mountainsides of Sarajevo to 
the plains of Mozambique.” 

The number of signatories 
is more than twice the number 
of countries that originally 

backed the ban. Nations have 
rushed to sign on. just 14 
months after Mr. Axworthy 
challenged participants at a 
conference in the same hall to 
return to Ottawa to sign a ban 
at the end of 1997. 

The anti-land mine activist 
Jody Williams said at the con- 

Jody Williams, the anti-land mine activist, pausing dur- 
ing her speech Wednesday at the Ottawa conference. 

ference that Mr. Axworthy ’s 
challenge initially had horri- 
fied the diplomatic commu- 
nity because it went outside 
the slow-grinding disarma- 
ment conference at the United 
Nations in Geneva. 

"Who would have expec- 
ted that within such a short 
time the governments of the 
world would have responded 
to a band of NGOs calling for 
a ban on a weapon in wide- 
spread use?” asked Ms. Wil- 
liams. referring to nongov- 
ernmental organizations. She 
represents the International 
Campaign to Ban Land 
Mines, which in October won 
the Nobel Peace Prize. 

Momentum for a ban built 1 
up this year, and the cause 
was popularized by the death 
of Diana, Princess of Wales, 
this summer. She had drawn 
attention to amputees. 

"The late Princess of 
Wales seized the attention of 
the world when she exposed 
the human cost of land 
mines.” Mr. Chretien said. 

Between 60 million and 
100 million anti-personnel 
land mines are dotted around 
69 countries. They fcili civil - 1 
ians long after ware have 
ended and render useless vast 
tracts of arable land in some 
of the poorest countries. 

The mutes kill or maim 
more than 25,000 people a 
year, mostly women and chil- 

Mr. Annan told the confer- 
ence: "We must now turn our 
imaginations to the cause of 
mine clearance so that the vic- 
tory of today does not become 
a hollow one.’ ' ( Reuters. AP) 

A ‘Garbage’ weapon That Lies in Wait 

Disabled Vietnam Vet Dearies America’s ‘Hollow* Derision to Stay Out 

By Francis X. Clines 

frrw y.irl Tones Service 

WASHINGTON — Bobby Muller 
was blown from rhe ground by a land 
mine once and recalls it as a kind of 
ludicrous rumbling. He landed un- 
injured. propelled off a Vietnamese road 
by the shock wave, not the shrapnel, of 
the infernal thing. 

"Just like being iu a cartoon,” Mr. 
Muller soul punctuating the memory 
with tight laughter as he recounted his 
singular. 28 -year odyssey from Marine 
warrior to postwar scourge of the scores 
of millions of land mines now-haunting 
the earth like a subliminal plague. 

Mr. Muller, 52, marched away from 
that land-mine explosion only ro be left a 
paraplegic by enemy gunfire not much 
later in 1969. . . 

Recently, rocking in his wheelchair, 
Mr. Mu Her angrily called the land mine a 
"garbage” weapon: "That’s right,” lie 
said. “Three-dollur anti-personnel land 
mines have killed more people than all 
the Cold War weapons of mass destruc- 
tion combined." 

An estimated 26,000 innocent people 
are killed or wounded by such mines 
each year across the globe. ' 

The multinational grassroots move- 
ment to ban mines organized sot. 
years ago was honored until this year’s 
Nobel Peace Prize. Bui as the movement 
reached a crowning moment Wednesday 
ond.Thursday in Ottawa, with tlje sign- 
ing of a treaty among more than 125 
nations banning land mines, Mr. Muller, 
for -all his success, will be a thoroughly 
bittersweet presence, he admits. . • / : 

"The signing’s extraordinary, but it’s 
qt risk of becoming a hollow treaty if the 
U -S. isn’t brought on board,” he said: 
"It’s ironic and sad that this country. 

which played so important a part in 
getting tiiis campaign off the ground, is, 
at the end of the day r a no-show.” 

The Clinton administration is holding 
out at being a signer despite international 
pleas and pressures. 

The Vietnam War rendered Mr 
Muller hopelessly militant — first as a 
founding organizer of aggrieved Viet- 
nam' veterans, and then as a leader of 
anti-war vets, too. He was among the 
first to galvanize postwar missions of 
mercy rack to -Indochina, bearing the 
latest in American prosthetics to help 
those with lost limbs. 

Some years later in Cambodia, be was 
shocked by die legions of civilians he 
encountered freshly maimed by mines in 
that civil war. His dark epiphany was 
that land mines were the grisly common 
denominator for a demanding new 

. . “These weapons have become prob- 
ably the most destabilizing factor in 
Thud World countries today that are 
recovering from conflict,” Mr. Muller 
said, noting estimates that the earth re- 
mained seeded with perhaps 100 million 
land mines claiming dozens of fresh 
victims daily. 

President Bill Clinton, while pro- 
claiming imposition to land mines, ar- 
gues that mere are substantial strategic 
reasons for not signing and for taking a 
different approach, in pan to protect 
/U.S. troops stationed in such- places as 
South Korea. But Mr. Muller, a scarred 
veteran of political battles in Washing- 
ton, says the president told him flatly one 
day that he simply could not risk a 
breach with the Pentagon establishment 
by daring to sign the ban. . 

While opponents present "slippery 
slope” arguments that more vital 
weapons would be targeted next, Mr. 

Muller contends that the Pentagon is 
institutionally incapable of ever renoun- 
cing even the most counterproductive 
weapon unless there is firm pressure 
from the commander-in-chief. 

* ’That’s the whole crux of this issue,” 
said Mr. Muller, who has enlisted an 
array of retired military brass, including 
General Norman Schwarzkopf, the U.S. 
commander in the Gulf War, to endorse 
the ban in an open letter to the president, 
arguing that anti-personnel mines are 
not essential and are inhumane. 

Anticipating the next round, Mr. 
Muller plans to have his organization, 
the Vietnam Veterans of America Foun- 
dation, out on the congressional cam- 
paign trail next year and in the pres- 
idential election to follow, aiming to put 
public pressure on Vice President AI 
Gore and any other political aspirant 
rated lukewarm on such a globally pop- 
ulist issue. 

The Muller organization was the core 
group in the International Campaign to 
Ban Land Mines, the coalition that in 
less than a decade grew to more than 
1,000 organizations in more than 60 
countries and won the Nobel Prize. 

The prize instantly brought world- 
wide celebrity to the international group 
and its American coordinator, Jody Wil- 

Mr. Muller remained in the- back- 
ground, delighted that the Nobel com- 
mittee, in making the award, openly 
expressed the hope that all nations would 
sign the treaty. 

"There is so much romanticized 
gobbledygook going on out there today 
about people clattering away on e-mail 
aod moving the world on this issue,” 
Mr. Muller sard, scoffing. “Nonsense. 
This is Basic Politics 101. It’s political 
strength. It’s money.” 

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V a R I G 

Land-Mine Treaty Signing Begins 

PAGE 11 




oWs 40% Cut in Russia’s Baltic Forces 



***"-\. i . . 1 

By Daniel Williams 

HatJnnjmw PnuSmir* 

MOSCOW — President nZT 
Yeltsin cnsiied another strategic sen- 
- Mtion in Sweden on WednelL 

for. the first time — by more than 40 

S lt * hwrf and n*val units, es- 
in northwest Russia,” Mr 

*C w not easy .but we will solve 

WU3, : (■»*.• v 

' slal e visit to . 

* ®* r - Yeltein surprised the 

Swedes and his own entourage by 
gk>dging to reduce nuclqaj: forces by a 

TJat off-the-cuff staten*ew was im- 
mediately modified by aides who said 
that Mr. Yeltsin ; was '‘tired” and that 
the offer might be part of future aims 
^ control negotiations. . 

On Wednesday, . however. Mr. 
Yeltsin spoke from a text and, at NATO 
neaaquarters in Brussels, Defense Min- 
JJto igor Sergeyev confirmed Mr. 
Yeltsin s plans for cuts in both land and 

naval forces. 

Mr. Seigeyev said troops would be 
pulled from Kaliningrad, a Russian en- 
clave between Lithuania and Poland, as 
well as from the $L Petersburg area. The 
Russian Baltic and Northern fleets will 
also be .repuced, be said. 

Tne prt^xwal .am>eafed aimed sit as- 
suring Lithuania. Latvia and Estonia 
that Russia is ho threat to themi, in line 
with Moscow’s assertion they need 
not join NATO. for. self-defense. : AD 
three countries rejec ted a receatRussian 
Proposal fo offer them security guar- 

“I’m sure that 'the Baltics will be- 
come a region of firm trust, stability and 
security,” Ml Yeltsin said- in his 
^eech. “We want a common- border 
mat does not divide os but makes ns 
closer,” he continued, “a border of 
peace, not strife.” 

In practical terms, his pledge is a 
statement of existing reality. Russia's 
forces are only nominally at 1 00 percent 
strength in northwest Russia or, for that 
matter, anywhere else. 

The readiness of units has been 
eroded by the necessity for soldiers to 
find work to supplement low and fre- 
quently delayed wages and by a general 
deterioration of equipment. 

Moreover, since the Yeltsin govern- 
ment has announced plans to slash Rus- 
sia’s entire troop levels by more than a 
third over the next few years, a re- 
duction in frontline Baltic troop levels 
would be likely. 

The Baltic cuts are part of an overall 
reorganization of the military an- 
nounced in July, Mr. Sergeyev said. 

The pledge is aimed at capitals be- 
yond the Baltic Sea, Russian observers 

' For Washington and west European 
capitals, already embroiled in debate 
over how to fond NATO expansion into 
Poland, Hungary and the Czech Re- 
public, Mr. Yeltsin portrays Russia as 

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© New York Times/Edited by Will Shorts. 

no threat. "This is a way Russia con 
attract positive attention to itself," said 
Dimitn T renin, a military analyst. 

“ Yeltsin wants to show a Western 
audience and not just the Baltic states 
that he's a nice guy. It's not a hollow 
statement and politically, it’s pretty 

The strategy represents a shift from 
tactics employed' about a year ago. 

Then, in the face of the proposed 
NATO expansion, the Russians said 
that Kaliningrad would be made a fort- 
ress and nuclear weapons might be tar- 
geted on Warsaw. In Sweden, by way of 
contrast, Mr. Yeltsin proposed setting 
up a telephone hot line between the 
Kaliningrad military command and the 
Baltic countries. 

Surprise dovish statements abroad 
are a periodic feature of Mr. Yeltsin's 

In May. he told a NATO summit 
meeting in Paris that he was going to 
remove nuclear warheads from mis- 
siles. His aides explained that he meant 
to say that the missiles would no longer 
target NATO members. A few years 
ago, on a visit to Warsaw, he said that 
Poland's enuy into NATO would be no 
problem, only to reverse himself a few 
days later in Moscow. 

Such zigzagging makes it difficult for 
Mr. Yeltsin to achieve foil public re- 
lations benefits and positive responses 
from the West. Praise might help bolster 
him at home against frequent charges 
that he is stripping Russia's military 

In effect, Mr. Yeltsin has unilaterally 
reduced Russia's military power as part 
of a strategy lo reduce government 
spending and shift the country's eco- 
nomic focus from military industry to 

S.-rfri CtaiLin /Aperk.T Fianix-hcw-c 

Brigita Dahl, the speaker of the Swedish Parliament, showing the way to 
the guest speaker. President Boris Yeltsin of Russia, on Wednesday. 

consumer goods. Future reorganization 
of the armed forces is designed lo cap 
this policy and make the military more 

Reform is supposed to include the 
merger of anti-missile forces into the 
navy, incorporation of air defense 
forces into the air force and decent- 
ralization of the command of ground 

troops. The elimination of “excessive 
diversification." in Mr. Yeltsin’s 
words, is meant not only to reduce the 
number of enlisted troops and lower- 
ranking officers but also to shrink Rus- 
sia's constellation of generals. 

According to the plan. Russia will 
possess an all-volunteer force instead of 
a conscript army. 

Russia and NATO: Peacemakers Inc. 

They Pledge to Accelerate Their Military Cooperation Program 

By William Drozdiak 

Pon Siwuv 

BRUSSELS — Hoping to set aside 
decades of animosity. Russia and the 
North Atlantic Treaty Organization 
pledged Wednesday lo accelerate a mil- 
itary cooperation program with the goal 
of building a new security partnership 
for the 2 1 st century. 

Russia's defense minister, Igor 
Sergeyev, joined his counterparts from 
16 alliance nations for their first formal 
discussions under a permanent joint 
council. It was set up lo case Moscow's 
distrust about NATO’s decision to in- 
corporate Poland. H ungary and the Czech 
Republic as full members in 3999. 

Mr. Sergeyev and the U.S. defense 
secretary. William Cohen, also signed a 
bilateral pact that is designed to increase 
military exchanges and bolster Russia's 
demoralized armed forces. 

“They are going through a very pain- 
ful time right now," Mr. Cohen said. 
“We think it is important to help in a 
positive, constructive fashion.” 

All the ministers reviewed an am- 
bitious agenda that includes building on 
Bosnia peacekeeping efforts, coordinat- 
ing disaster relief plans, enhancing ihe 
security of nuclear arsenals and other 
measures that could foster a new climate 
of confidence between former enemies. 

NATO officials acknowledge that the 
new’ relationship with Russia is struggling 
through an awkward stage. Moscow’s 
leadership is still resentful about NATO's 

eastward expansion and remains suspi- 
cious about the strategic intentions of die 
Western military alliance. 

For the United States and its allies, 
there is lingering reluctance to see the 
nascent council invested with too much 
authority, keeping it from undermining 
NATO’s basic policymaking institu- 
tions. On the other hand. NATO officials 
acknowledge that unless Russia sees the 
initiative bear fruit, Moscow could be- 
come alienated by the process and aban- 
don any hope of building a true part- 

Early meetings with Russia's foreign 
minister, Yevgeni Primakov, and at the 
ambassadorial level have gone badly. 
Control over the agenda must be divided 
among Russia, an alliance member that 
rotates every month and Secretary-Gen- 
eral Javier Solana Madariaga — and this 
three-way chairmanship has proved to 
be virtually a formula for paralysis. 

While they are dismayed by initial 
contacts with Moscow's top diplomats, 
senior NATO officials say they have 
been favorably impressed by their deal- 
ings with Russian military officers, who 
show a keen desire to learn from the 

Russians who have served with ihe 
NATO-led peacekeeping effort in Bos- 
nia during the last two years have been 
awarded with big promotions when they 
return home, and they strongly advocate 
closer military cooperation with 

Ministers from Russia and NATO 


Those Papon ‘Saved’ 
Not Jews ? Paper Says 

PARIS — Maurice Papon’s claim 
lo have saved 130 Jews from depor- 
tation to Nazi death camps was false 
because nearly all those he crossed off 
deportation lists were Roman Cath- 
olic. a newspaper said Wednesday, but 
one of his lawyers denied the report. 

Mr. Papon, a Bordeaux police su- 
pervisor during World War D, is cur- 
rently on trial for crimes against hu- 
manity for allegedly signing arrest 
orders that led lo the deportation and 
deaths of 1 .690 Jews. 

Just before the trial was suspended 
last month so Mr. Papon could re- 
cover from illness, the former official 
of the collaborationist Vichy regime 
said he had saved 130 Jews by cross- 
ing their names off a list of people to 
be deponed. 

The newspaper Liberation, with the 
front-page headline “Papon's Lie,” 
said it investigated the claim and 
found '“there was practically no Jew 
on the list of 130 people purportedly 
saved from deportation by Papon.” 

“All he did was conscientiously 
apply the racial laws of Vichy, sorting 
out “Aryans' and Jews, condemning 
the latter to deportation but ‘saving’ 
the Catholics that the Germans never 
had the intention of deporting," the 
paper said. (AP) 

Havel Doctor Sees 
A Risk in Voyage 

PRAGUE— Miroslav Cerbak.head 
of the I cam of doctors treating ailing 
President Vaclav Havel, said Wednes- 
day he was worried by the president's 
plan to travel to the Dec. 13 summit of 
the European Union in Luxembourg. 

"As a citizen. I feel that it is prob- 
ably a good thing that he’s going; as a 
doctor, I'm worried,” Dr. Cerbak told 

the press agency CTK. 

Mr. Havel said Tuesday he would 

replace Vaclav Klaus, who has 
stepped down as prime minister, as 
the head of Czech delegation to the 

Mr. Havel’s spokesman, Ladislav 
Spacek. said the president, who is 
recovering from pneumonia and bron- 
chitis, had consulted with doctors 
about his decision to go. t API 

Bonn Disciplines 6 
Over Nazi Photos 

BONN — The Defense Ministry 
said Wednesday that it had opened 
disciplinary proceedings against six 
soldiers who decorated a room in their 
barracks with pictures of Adolf Hitler 
and prewar army flags for a drinking 

The ministry said the incident took 
place in the southern town of AI- 
tenstadt in 1993 but only came to the 
attention of officers this week, when 
they received photographs showing 
the soldiers together with Nazi sym- 
bols and pictures. 

News of the case broke in the news- 
paper Bild. which said the soldiers 
had also shouted extreme rightist slo- 
gans during the party. f Reuters l 

Austrian Elections 
Planned for April 

VIENNA — Austria’s coalition 
government said Wednesday that next 
year’s presidential election would 
take place April 19 with a second 
round May 24 if necessary. 
r Apart from the incumbent, Thomas 
Klestil, who is seeking a second term 
as an independent, two other can- 
didates have already declared them- 
selves: Richard Lugner. a building 
tycoon, and Heidc Schmidt, leader of 
the Liberal Forum. 

The rightist Freedom Party, led by 
Joerg Haider, and the Greens are ex- 
pected to announce their candidates in 
the next few weeks. (Reuters) 

countries agreed to work on plans for a 
series of joint military exercises over the 
next two years under the alliance's Part- 
nership for Peace program. These mil- 
itary projects now involve 44 countries 
stretching into Central Asia. 

Russia has embarked on a drastic re- 
structuring of its military establishment, 
with the number of troops under arms to 
be halved to about 1 million by 2000. 

Mr. Sergeyev confirmed reports that 
Russia was prepared to make unilateral 
"drastic reductions’* in its land and nav- 
al forces, mainly in the northwestern and 
Baltic regions, which he described as the 
most stable areas along the frontier. 

Mr. Cohen welcomed the proposed 
cutbacks and said the United States was 
ready to offer its advice after going 
through a painful ordeal in shutting bases 
and trimming forces after the Cold War 

He said the United States and its aliies 
would offer retraining assistance so that 
Russia’s retired military officers could 
find work in the private sector. 

In addition, the United States has 
offered its help to fortify Russia’s nu- 
clear security. 

The U.S. strategic air commander. 
General Gene Habiger, spent a week 
touring Russian nuclear installations and 
told the NATO ministers that he was 
impressed by the protective alert sys- 
tems that still appear to be functioning at 
strategic missile bases. 

Mr. Sergeyev said he was pleased by 
the U.S. assessment. 

Britain to Ban 
Sales of Beef 
On the Bone 

The AutniatcJ Press 

LONDON — As farmers protested 
falling beef prices, the government an- 
nounced Wednesday that it would ban 
all sales of beef on the bone afrer its 
advisers warned that bone marrow 
could contain “mad cow” disease. 

Jack Cunningham, ihe agriculture 
minister, said the government's scientif- 
ic advisers concluded there was a risk of 
material contaminated with bovine 
spongiform encephalopathy entering the 
food chain through swellings on nervous 
tissue near a bovine's spinal cord. 

“T have decided we must act on this 
advice." Mr. Cunningham told Inde- 
pendent Television News, but added. 
““The risk is very small.” 

■'Ninety-five percent of beef is 
already eaten off the bone,” he said. 

But farmers feared the ban would 
further erode public confidence in Brit- 
ish beef and harm rheir incomes. 

"The announcement is bound to 
spread uncertainty in the mind of the 
housewife, who is already confused as 
to whether to buy beef,” said David 
Hill, a cattle breeder. 

British beef prices have fallen since 
March 1996, when the government an- 
nounced there might be a link between 
bovine spongiform encephalopathy and 
a new strain of Creutzfela- Jakob disease, 
a similarly fatal brain-wasting disease in 
humans. Many countries banned imports 
of British beef. More recently, the strong 
British pound has forced prices lower. 

For the last three days, fanners 
note5ting the low price of British beef 
ve intercepted consignments of 
cheaper Irish beef coming into the port 
of Holyhead, northwest of London. 

On Monday, farmers dumped 40 tons 
of Irish beef burgers into the sea. 

More than 20 people have died in 
Britain of the new strain of Cremzfeld- 
Jakob disease. 


PAGE 12 



Depressed Children: Be Alert to Often- 

By Jane E. Brody 

Ne h - York Times Service 

EW YORK — A report last 
. month on the successful use 
of the drug Prozac to treat 
depression in children as 
young as 7 might be viewed not so much 
as a testimonial to the effectiveness of 
this popular drug bat as an alert to warn 
parents and teachers that children — 
even very young children — can be- 
come seriously depressed. 

The National institute of Mental 
Health in Bethesda, Maryland, esti- 
mates that more than 1.5 milli on Amer- 
ican children under 18 are seriously 
depressed, and the American Academy 
of Child and Adolescent Psychiatry puts 
the number at more than twice that. 

The real number may be higher still. 

and it is almost certainly growing. No one 
knows the actual number because, child 
psychiatrists say, depression in children 
is often missed or misdiagnosed A de- 
pressed child may show few of the hall- 
marks of adult depression and rarely ful- 
fills the official diagnostic criteria 
established for adults. 

Dr. David G. Fassler, a child psy- 
chiatrist in Burlington, Vermont, said 
“Very young children who don’t yet 
have die verbal skills to put their feelings 
into words may never say, "I'm feeling 
down,’ or, T feel like there’s no hope 
left’ Instead, they often act out their 
upset by behaving in ways that look very 
imliVp what we think of as depression.’' 

In his new book, “Help Me, I'm 
Sad,” written with Lynne S. Dumas 
(Viking). Dr. Fassler explained: “A 
child who bullies bis baby sister, picks 

fights at school or suddenly suffers fre- 
quent and unexplained aches and pains 
may be expressing his depression just as 
surely as the child who becomes tearful 
and withdrawn.” 

In a study of 69 children and ad- 
olescents by Dr. Anh Nga Nguyen, an 
expert in childhood depression at the 
University of Texas, at Galveston, more 
than 95 percentof the children displayed 
their anger and depression through im- 
proper behavior at school or at home or 
both. She concluded: "Most of the time, 
a bad child is really a sad child” 

The symptoms of childhood depres- 
sion vary with age. In an article last year 
in Contemporary Pediatrics. Dr. Susan- 
nah Sheny, director of the Cambridge 
(Massachusetts) Youth Guidance Cen- 
ter, and Michael JeUinek. chief of child 
psychiatry at Massachusetts General 

Hospital in Boston, wrote that in infants 
and toddlers, depression might appear 
as a failure to thrive or gain weight 
normally or as delays in speech and 
motor development. Dr. Fassler listed a' 
sad or emotionless facial expression, 
minimal activity, imresponsiveoess or 
withdrawal and excessive or unusually 
little crying. Preschoolers may wet their 
pants or fail to control their bowels. 

The Massachusetts doctors added, 
"Their play may be reckless, aggres- 
sive, destructive or show a preoccu- 
pation with morbid, even suicidal, 
themes.” Or they may have frequent 
accidents. School-age children may lag 
in . social and academic skills that show 
up as school phobia, social Isolation, a 
poor self-image, poor grades of anti- 
social behavior like stealing or lying. 

Among older children and teenagers. 

depression may assume more classic 
forms, like admitting to sad, bqred or 
empty feelings. But other common 
characteristics can be deceiving. Con- 
sider it a red flag for depression if an 
older child experiences extreme mood 
swings, engages in dangerous activities, 
fails academically, runs away from 
home, abuses drugs, or steals or lies. 

percent. He added that' “the 
longer the initial episode goes ig- 
nored, the sooner the next will occur,' ’ 
ant* the more likely it sjp persist into 
adulthood. i - ‘ 

Furthermore, depression in a child 
affects foe entire family and can 
severely strain a marriage. And when a 
child's depression, emanates from in- 
appropriate behavior byxmrcnls, therapy 
can result in happier and more effective 
parents as well os healthier children. 

Dr. .Fassler and other experts Insist 
that treatment for childhood depression 
is highlv effective. "Individual therapy,, 
family therapy, medication and world 
with a’ child’s school cun. all help a 
youngster successfully overcome de- 
pression,” Dr. Fassler wrote, adding 
that a combination of these approaches 
is often flic most effective; 

O not assume that your child 
will outgrow, foe problem. 
Although depression typic- 
ally lifts even without treat- 
ment within . about nine months. Dr. 
Fassler emphasized that it should not be 
left to run its course. He noted that 
untreated depression could result in 
“severe emotional and developmental 
setbacks” and that foe recuirence rate 
w ithin three years was as high as 50 


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. .* (Apr 

. ... t*r 

A Computer Spawns 
• • ^ A Noisy Dinosaur 1 

*A computer mode! (below) shows that the Apatosaurus a 
tail’s base, segments t through 1 7, was stiff and muscular and / 
might have functioned like a bullwhip handle. In segments 18 through 
. . a transition area, vertebrae are slightly longer than those at the tail’s base f 

or end. These vertebrae show signs of mechanical stress that could have been caused f 
by a whipping action. The final foil segments were flexible, like a whiplash, in movements 5 
. parallel to the ground. The tip ... ff 

could cover a meter-long arc. mTjj,. . • * 1 J 

Segment 25 

The New Ycrt Timer. IUuaB&tioo by QregoiyS. P»nl 

Segment 18 

Did Dinosaurs Crack the Sound Barrier With Their Tails? 

By John Noble Wilford 

New York Times Service 

EW YORK — Move over. Chuck 
Yeager, and give way to supersonic 
dinosaurs. At least 150 million years 
before Yeager in 1947 became the 
first person to break the sound barrier in a rocket 
plane, foe largest dinosaurs, a group known as 
sauropods, could have mustered foe right stuff 
to send sonic booms resounding over the Meso- 
zoic landscape. No, the 100-ton creatures never 
got off foe ground. All they would have had to 
do was flick their long tails like a bullwhip. 

The idea had occurred to some paleontol- 
ogists examining fossils of the enormous saur- 
opod tails, which tapered to thin tips. Could they 
have been used like whips to defend themselves 
or to produce a loud "crack'* to intimidate 
predators or communicate with fellow saur- 
opods, including potential mates? As physicists 
have known since 1958, the crack of a whip is 
actually foe shock wave, or sonic boom, caused 

by the thin tip of a whip exceeding foe speed of 
sound for one moment. 

No one had put the idea to a test until a master 
of computer simulations. Dr. Nathan P. Myhr- 
vold, of Microsoft Corp., struck up an extended 
electronic-mail conversation with a leading di- 
nosaur expert. Dr. Philip J. Currie, of the Royal 
Tyrrell Museum of Paleontology, in Drum- 
heller, Alberta. 

In analyzing fossils and developing computer 
models of sauropod tails, foe two researchers 
said they had found evidence that dinosaurs like 
Apatosaurus (also known as Brontosaurus) and 
Diplodocus could indeed have flicked their tails 
to supersonic velocities. But foe sonic booms 
produced by foe 3.500-pound (1 -580-kilogram) 
tails of these behemoths would probably have 
sounded more tike cannon fire than foe crack of 
a bullwhip. 

Dr. Myhrvold and Dr. Currie described the 
research in interviews and in a report in the 
journal Paleobiology. They conducted a variety 
of computer simulations, testing different as- 

sumptions about foe biomechanical capabilities 
of these giant dinosaurs. They compared tails 
with whips in their computer analysis to see 
how similarly they behaved. "In all cases, it 
was easy to find simulations that produced 
supersonic motion,” foe scientists wrote. 

said he thought foe concept of sauropods with 
supersonic tails was physically plausible. But at 
a recent paleontology conference, he said, be 

" heard “other people who just hate foe idea.” 
One critic is Dr. Kenneth Carpenter, a p; 

ITH one side-to-side flick, foe re- 
searchers determined, a wave of 
energy could accelerate through 
the length of one of foe tapering. 

segmented tails, gaining momentum to propel 
the rip of the tail to velocities of more than 750 

the tip of the tail to velocities of mare than 750 
miles an hour, faster than the speed of sound. 

“We must confess that it is pleasing to think 
that foe first residents of Earth to exceed foe 
sound barrier were not humans, but rather the 
diplodocid sauropods,” Dr. Myhrvold and Dr. 
Currie concluded. 

Other dinosaur experts are sharply divided 
over foe research. 

Gregory S. Paul, an independent specialist in 
dinosaur anatomy who is based in Baltimore, 

leontologist at foe Denver Museum of Natural 
History. “To be blunt,’ ’ he said in an interview, 
“foe computer simulations are another case of 
garbage in, garbage out” 

Dr. Carpenter questioned whether foe bony 
segments of foe dinosaur tails could have pro- 
duced a supersonice boom. Even if foal was. 
possible, he said, using the tail like a whip might 
have been both painful and- damaging to dl- 
• nosaurs. The last few segments might even snap 

• In their report. Dr. Myhrvold and Dr. Currie 
emphasized that only the last two or three inches 
of the dinosaur tail would have exceeded the 
speed of sound. The possibility of pain or dam- 
age might be minimized or eliminated, they 
pointed out, if foe most extreme part of foe tail 
extended past foe last vertebra, as a piece of skin. 

tendon, or keratin, the protein that can take the 
form of scales, claws, or feathers. “If whips 
made from the skins of cows and kangaroos are 
able to withstand supersonic motion,” they 
said, “why not dinosaur skin and tendons?” 

But foe two researchers agreed with foe pa- 
leontologists who now reject the idea that the 
sauropods regularly used their tails defensively. 
The animals would probably have sustained as 
much' injury to their tails as they Inflicted on 
attackers. ■ ‘ • 

As chief technology officer at Microsoft, Dr. 
Myhrvold presumably has more pressing re- 
search matters than dinosaur tails. But dino- 
saurs have fascinated him since childhood, and 
he has probably never met a research problem 
be did not try to use a computer to solve. He got 
in the habit of stretching the imagination when 
he studied cosmology under Dr. Stephen Hawk- 
ing at Cambridge University in England, “f 
don't claim it's relevant to MiltosqS!.’’ he said 
of the dinosaur simulations. “It’s 711st an in- 
teresting problem to me." - - 




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‘ - * t T ’’ • : ' Jb T 7~ * nK,fic - 1 

erson in Honpr lvomr 



• *4U 

By David Brown 

licu/ting/li/i Post Service 

entists have identified 
a second person in 
Hong Kong who re- 
cently became ill with a rare strain of 
influenza virus previously thought 
to infect only birds, foe World 
Health Organization reported. 

The recent case was a 2-year-old 
boy who became ill on Nov. 8 and 
was briefly hospitalized. The earlier 
one occurred in May in a 3-year-old 
boy. who developed a severe com- 
plication called Reye’s syndrome 
and died. 

There is no obvious connection 


“Monday thrtx^fi Friday ounkic Central London. Postal subscrip- 
tions are awaiabte throughout die UK on the d ay after pubficadon. 

between foe cases, which' were 
caused by an influenza A virus stib- 
type called H5N1. The recent in- 
fection appears to be a second, in- 
dependent leap of this pathogen 
from birds to human beings. 

While foe virus does not appear to 
pose an immediate public health 
threat, foe leap is a highly unusual 
and worrisome event. “To me, foe 
startling thing about the second case 
is that there is a second case,’* said 
Robert G. Webster, a virologist and 
influenza specialist at St. Jude Chil- 
dren's Research Hospital, in Mem- 
phis. “We have to realize that this 
virus is telling us that it's trying to 
seed itself into the human popu- 
lation. If it keeps doing this, it 

will be bad news, to say foe least:-* 

. The H5N1 subtype caused an out- 
break of chicken influenza in Hong 
Kong last spring, killing nearly 
7,000 birds. The new case seems to 
demonstrate the strain has some 
propensity to infect well. 
However, there’s no evidence it has 
foe properties that allow it to be 
spread from person to person — an 
essential trait for all. -epidemic 
strains of human flu virus. 

NFLUENZA viruses are con- 
stantly circulating in human 
pop ulatio ns. replicating, 
mutating and changing their 

biological behavior slightly year to 
year. Three or four times a century. 

however, a new flu subtype appears 
to which nobody is immune because 
nobody has been exposed 10 any- 
thing remotely like it Such a sub- 
type rapidly infects a large portion 
of the world’s population, often (al- 
though not necessarily) causing 
higher-than-usual mortality. 

These events are called “anti- 
genic shifts.” The last one occurred 
in 1968. Biologists expect another 
one soon. 

The deadliest epidemic of the cen- 
tury occurred in 1918 and 1919. 
when a (presumably) new subtype of 
influenza killed about 30 million 
people worldwide. An antigenic shift 
produced the “Asian flu” in 1957, 
which killed 70.000 Americans. An- 

other shift, the "Hong Kong flu'* of 
1968, caused fewer deaths. 

Chinese government virologists 
identified foe strain as subtype 
H5N 1 several weeks ago, and sci- 
entists at foe U.S. Centers for Dis-fr 
ease Control and Prevention in At-* 
lanta confirmed the identification. 

Nancy J. Cox, chief of foe in- 
fluenza branch at CDC, said the 
viruses from foe two children are 
different enough that they appear to 
have cotne from - different sources. 
The recent victim is a Vietnamese 
child, whose younger sibling and 
parents have not become ill. The 
child had no contact with the boy 
who was the first H5N1 case, and 
lives in a different part of the city. 



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An Album 

By Jan Morris. 366 pages. 
$24. Villard Books. 
Reviewed by Alan Riding 

J UST as Europe began 
commemorating the 50th 

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m commemorating the 50th 
anniversaries of critical mo- 
ments of World War n, the 
Soviet bloc collapsed, war- 
fare erupted in foe Balkans 
and “ethnic cleansing” 
stirred foe ghosts of foe Holo- 
caust Once again. European 
history was refusing to lie 
dormant Indeed, even now, 
foe European Union’s prom- 
ise of a different future keeps 
being challenged by old-fash- 
ioned nationalism. The past 
has spawned eight new Euro- 
pean countries since 1990. 
Demands for greater auton- 
omy can be heard from Scot- 
land to Catalonia. 

Jan Morris knows this and 
a great deal more. For half a 
century, she has been trav- 
eling the length and breadth 
of this complex and cooftict- 
ive continent Yet as this 71- 
year-old writer gathers her re- 
miniscences. she is reassur- 
ingly optimistic. Her new 
book, “Fifty Years of 
Europe: An Album,*’ covers 
1946 to 1 996 from the mixed 
; hope, uncertainty and dismay 
of foe immediate postwar era 
to foe eve of creating a single 
European currency. . More 
personally, it also traces foe 
metamorphosis of her identity 
from British to Euro- Welsh. 

It is an unusual book, al- 
most easier to define by what 
it is not It is not a travel or a 
history or a geography book, 
although it has elements of all 
three: it also lacks a narrative 

flow since it ignores chrono- 
logy and comprises hundreds 
of loosely connected anec- 
dotes, portraits, recollections, 
history lessons and quota- 
tions. Morris’s own definition 
— “an album” — is prob- 
ably best It is as if she had 
found a series of verbal snap- 
shots in an old suitcase and 
decided to present them with 
little heed to time or place. 

Still, she offers a logic of 
her own, organizing the snap- 
shots into five chapters: 
“Holy Symptoms” on 
Europe's religious roots and 
expressions; “The Mish- 
mash” on its ethnic and geo- 
graphical confusion; “Na- 
tions, States and Bloody 
Powers” provides brief conn- 
try-by -country sketches; 

“The Internet” on Europe's 
means of communication; 
and “Spasms of Unity” on 
attempts to unite Europe from 

mation that she is eager to con- 

How sbe does so, however, 
proved troublesome to me. I 
could overlook her attempts to 
engage foe reader with. 
“Loiter with me now for a 
moment or two” or “Allow 
me to invite you to Sunday 
luneb.” I even felt a certain 
relief when she suggested: 
“Let os now give ourselves a 
break in our fitful march 
across Europe.” But I found 
the constant hopping among 
country, period and subject lo 
be dizzying. At times I felt as if 
I were trapped by. a dinner 
partner who was determined to 
recount a lifetime of travel sto- 
ries — in nojparticular order 
— before coffee was served. 

To be fair, there are plenty 
of nuggets that I hope to re- 

member. “As Gustav Mahler 
observed to the conductor 
Bruno Walter when they 
traveled through the Alps to- 
gether, ‘No need to look — 
I've ^ already composed 
them.' Or : “Even Guin- 
ness, after all, that glorious 
black-and-cream icon of the 
Irish legend, was created by a 
family of impeccably mon- 
archist and Anglican creden- 
tial, rich in peerages.” Bat all 
too often, the information 
comes perilously close to 
guidebook fare. 

when her own hostility to 
people, she has it in for Den- 
mark. “a foolish place,” not 
least, it seems, because of 
“the central position that foe 
Tivoli Pleasure Gardens in 
Copenhagen appeared to oc- 
cupy in foe national psyche.” 
She targets “foe snobbery and 
pretensions” of Austria. “It is 
the sycophancy of older Aus- 
trians that I most dislike,” she 
pronounces. Poor Napoleon 
— no more than “a son of 
sexy Hitler” for her. She also 

I T might all have worked 
better if Morris had dropped 
half the information ana re- 
placed it with more of herself. 

Indeed, eager for more 
Morris, and less Europe. I 
came to celebrate moments 

offers a delightful generaliz- 
ation about food: “The Itaii- 

ation about food: “The Itali- 
ans eat most sensibly. The 
British eat most unhealthily. 
The Spaniards eat most ab- 
stemiously. The Scandina- 
vians eat most fastidiously. 
The Greeks eat most mono- 
tonously. The. Belgians eat 

most indigestibly.The French^ 
eat most pretensiously. The 
Germans eat mosti” 

Perhaps foe answer is to dip 
into this book at random, to 
nibble a while and return for 
more later. But it does offer a 
conclusion. Sitting on the 
quay at Trieste where her sto- 
ry began, Morris muses that 
there is “something wistful” 
to the spectacfeof old Europe 
groping its way toward co- 
mity. “The nostalgia that I felt 
here 50 yeafs ago was. I real- 
ize now, nostalgia not for a 
lost Europe, but for a Europe 
that never was, and has yet to 
be,” she writes. “But we can 
still hope and try, and be grate- 
ful that we are where we are, 
in this ever marvelous and 
fateful iomeritiF the world.” 

New York Times Sen-ice 

Or... ■* 

■••••' >V * 

! • ■ ■> 

» I 

■ - f-. 

Charlemagne to today. She 
begins and ends in Trieste, 

begins and ends in Trieste, 
* ’at foe cusp of Europe, where 
the races meet, where I can 
look one way toward Rome 
and Paris and London, foe 
other toward Belgrade and 
Bucharest and Athens.” 

It was there that a young 
British Army officer called 
James Morris (who underwent 
a sex change in 1972} began a 
European experience, a dis- 
covery of a different world that 
would lead her to uncountable 
voyages around Europe, first 
as a soldier, then as a journalist 
and finally, since 1956, as an 
essayist, historian and ac- 
claimed travel writer (she has 
also written one novel, “Last 
Letters From.Hav”). By now, 
she has visited every European 
country — even foe new ones 
— and has gathered volumes 
of weighty and trivial infer- 


By Alan Truscott 

T HE American Contract 
Bridge League’s Fall Na- 

■ Bridge League's Fall Na- 
tionals was won by Adam 
Wildavsky and Allan Falk, 
who led into foe final session 
and held on to win by seven 
match points. In hot pursuit 
were two European stars. 
Tony Forrester and Geir Hel- 
gemo , who have built a weird 
streak: In the past three years 
they have been second in five 
major events without scoring 
a win. 

The final standings were: 
first, Wildavsky and Falk, 
7S9.13 match points; second, 
Forrester and Helgemo, 
781.41; third. Chip Martel 
and Robert Levin, 763.28; 
fourth, Douglas Doub and 

John Rengstorff. 751.23; 
fifth, Gene Freed and Mike 
PasselL 743.58. 

Wildavsky and Falk use 
the Kaplarr-S hein wo Id Sys- 
tem, devised by two of the 
great figures in the game, 
bofo of whom died earlier this 
year. The single raise of a 
major-suit response shows a 

better- than- minim um hand , 

so Wildavsky as South was 
encouraged when his partner 
raised hearts. The partnership 
continued to . a borderline 
slam, making use of a rare 
conventional device: Four 
diamonds was "Last Train." A 
bid just below game in foe 
agreed trump suit shows that a 
player still has some slam in- 

The slam' would have been 
defeated if West had led a 

spade, for East , would have 
been able to win the ace and 
return foe suit forcing 
dummy to ruff. 

However, West led his 
singleton diamond and South 
won with dummy's ace and 
led to the heart ace. The ap- 
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gratifying, and he cashed his 
top clubs to discord dummy's 
spade king. Dummy was 
entered with a tramp lead to 
foe eight and a diamond was 
raffed high. Another tramp 
lead to dummy removed the 
missing trump, and East's dia- 
mond king was ruffed out. 
Dummy scored the last five 
tricks, and foe eventual win- 
ners collected 24.5 match 
points out of a possible 25 for 
making slam with an over- 

The tournament concluded 
with foe prestigious Reisinger 
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PAGE 13 

n»; JWwjd— UfaMjcnm f 

Asia Chastised as Its Rescuers Dig Deep to Fund Bailout 

Greenspan Urges Quick Banking Reform Aid to Seoul Leaves IMF at Its Most Stretched 

By John M. Berry omies — that they should accelerate the 

Post Service restructuring of their financial systems 

WAcuTNr* > rrvxi 7, ^ in their own interests,” Mr. Greenspan 

has Grecns P an said. "But, having delayed timely re- 

e k>ping nations to move as structuring, many now find themselves 

our iniermrinnfj t ^ n weaker hnksrn and equity capital that put their systems 
syaan.” at severe risKf collapie before full 
ri,^lr^ ch to *• Economic restructuring is feasible/ ’ 

*5? chffraan of the That is why it is necessary, Mr. Green- 

SKS! Reserve Board lard much of span said, for the International Monetary 
Jw the cram financial tor- Fund, the World Bank and some de- 
KME* A* 51311 muons on die way veloped countries, including toe United 
m which their governments had failed to States, to make temporary loans to those 

adequately regulate and supervise their governments, 
banking systems while directing hanlrc “Since an 
W HE? 1 *. loans t0 favored borrowers, have contagic 

What is wrong with policy — that is, basis, it is in i 
politically driven— loans?" Mr. Green- Fed chief said 
span asked. ‘ ‘Potentially nothing, if they But those ] 

“Since any severe breakdown can 
have contagion effects on a worldwide 
baas, it is in our interest to do so," toe 
Fed chief said. 

But these loans should be “contin- 

were made to firms to fi n a n ce expan- gent on the country mring the time to 
sioqs that just happened to coincide with reform finanriai systems as well as adopt 

a rise in consumer or business or over- sound econoir 
seas demand for their newly produced adding that “aj 
products. reform of fina 

"Unfortunately. this is often not toe nomic policies 
case. Policy loans, in too many in- useless, since i 
stances, foster misuse of resources, on- tions of being p 
profitable expansions, losses and even- IMF-led loai 
tually loan defaults." ded to Thailanc 

Huge losses on those and other types United States j 
of loans, particularly those used to fi- assistance in ti 
nance new real-estate ventures, have nation agreed 
crippled toe banking systems in South changes in its e 
Korea, Thailand and Indonesia. Putting banking practk 
surviving banks back on their feet wifi agreement was 
take lens of billions of dollars of gov- IMF and South 
eminent money in each case. Mr. Greensps 

“We should strongly stress to toe to take years foi 
□ewer members of the international fi- to restructure to 
nancial system — toe emerging econ- “Loan offi 

sound ec6nomic policies," he said, 4g»or* f m arflw n 

adding that “assistance without further Supervise banks, Greenspan advised, 
reform of financial systems and eco- 
nomic policies would be worse than judging credit and market risks are in very 

useless, since it would foster expecta- 
tions of being perpetually bailed out." 

IMF-led loan programs were exten- 
ded to Thailand and Indonesia, with toe 
United States providing some back-up 
assistance in the latter case, after each 
nation agreed to make significant 
changes in its economic policies and its 

By Brian Knowlion 

International Herald Tribune 

rescue of South Korea, com- 
ing hard on the heels of toe 
bailouts of Indonesia and 
Thailand, will place nearly un- 
precedented pressures on toe 
International Monetary Fund, 
leaving it wito less liquidity 
than at any time since 1982. 

U.S. and Fund officials say 
the lending organization can 
meet the need, but some econ- 
omists say its resources will 
be seriously stretched. 

One congressional study, 
revised last week, said a Fund 
bailout for South Korea prob- 
ably would limit toe IMF's 
future ability to deal with toe 
financial crisis in Asia. 

How great toe strain ulti- 
mately will be on Fond re- 
sources is not clear and will 

much as to $21 billion. The 
World Bank, its sister insti- 
tution, will provide $10 bil- 
lion; the Asian Development 
Bank, $4 billion; and cram- 
tries led by Japan, the United 
States and Germany, as much 
as $20 billion. 

The World Bank participa- 
tion is exceptional Normally, 
it provides assistance only to 
poor countries, and South 
Korea has undergone three 

rescue packages of $23 billion 
for Indonesia and $17 billion 
for Thailand. Of toe totals, toe 
Fund provided credits of $10 
billion for Indonesia and $3.9 
billion for Thailand. 

The $21 billion credit to 

tablish die so-called New Ar- 
rangements to Borrow, a set 
of medium-term credit lines 
that could be drawn on to help 
financially troubled coun- 
tries. It was to match the ex- 
isting $24 billion General Ar- 

South Korea will leave toe rangements to Borrow. 

IMF wito about $30 billion in 
liquid resources, which one 
institution official called 
“not a huge amount.” 

“We could probably go 

A recent congressional study said a 
bailout for Seoul could limit the IMF’s 
ability to deal with the crisis in Asia. 

banking practices. A similar but larger essary changes in a timely way. 

short suOTlym emerging economies," he not be until the effect of the 
said. “Training will require time.” new package in restoring con- 

In many instances, he said, the coon- fidence in South Korea and 
tries' legal framework matte it very dif- calming toe region’s finan cial 
ficult for lenders to seize the collateral markets is known, 
backing a loan. But economists say the in- 

The overriding difficulty, he said, is a stitution will face a severe test 
lack of political will to make toe nee- if, once toe smoke around 

agreement was concluded between toe 
IMF and South Korea on Wednesday. 

Mr. Greenspan said that it was likely 
to take years for die troubled economies 
to restructure their financial systems. 

“Loan officers wito experience 

* ‘There is a significant bias in political 
systems of all varieties," he said, “to 
substitute hope — read, wishful thinking 
— for possibly difficult preemptive 
policy moves, both wito respect to fi- 
nancial systems and economic policy." 

Seoul steps swirling, it appears 
that toe Asian financial “con- 
tagion'' has not been halted. 

Under the package an- 
nounced Wednesday, the 
IMF will provide Seoul with a 
three-year standby credit of as 

decades of rapid growth. A 
World Bank spokesman in 
Washington, asked about 
this, would not comment The 
World Bank and the IMF both 
declined to comment on toe 
structuring or terms of toe 

The IMF contribution will 
leave toe institution’s liquid 
resources at their lowest point 
in 15 years, said Rqjresenta- 
tive James Saxton, Republican 
of New Jersey, citing a study 
by toe Congressional Research 
Service. Mr. Saxton is chair- 
man of toe Joint Economic 
Committee of Congress. 

Since the summer, the IMF 

lower," said one government 
economist who asked not to 
be identified. “A lot depends 
on how efficient toe Korea 
bailout is. Potentially it could 
take pressure off not just toe 
Koreans but some other coun- 
tries, and maybe this is where 
it stops. But maybe this is not 
where it stops.'’ 

C. Fred Bexgsten, director 
of toe Institute for Interna- 
tional Economics, said that 
the Fund had “plenty of 
money* ’ but that its credits to 
any individual country were 
limited by its rules. 

Those rales are being 
stretched in the case of Seoul 

But U.S. politics have 
already intervened. A $3.5 bil- 
lion appropriation for the U.S. 
commitment to toe new credit 
lines was voted down last 
month by toe House of Rep- 
resentatives as other issues be- 
came entangled in the debate. 

Four big European donors 
— Germany, France, Britain 
and Italy — have said they 
will provide their own share 
of resources to toe new pro- 
gram and not wait for the 
United States to do so. 

Senate hearings on the is- 
sue are expected early next 
year. The IMF expects con- 

A Corporate Raider Shakes Up France’s Business Practices 

beyond toe value of Worms and withdrew. 

and built into a thriving producer of wood and furniture. 

tv,. Agneui ramiiy in naiy . rogeiner wun Assurances ueneraiei 

* twSZw de France SA. Eventually, Mr. Pinault decided toe offer was 

beyond toe value of Worms and withdrew. 

P ARIS — In the corporate world of France, wito its It was one of the few times he has not had his way. Mr. 

cozy intertwined shareholdings and classically edu- Pinault started by quitting school in Brittany to join his father 
rated business elite, it took an outsider such as in toe family lumber business, which he ultimately inherited 
Francois Pinault, a school dropout at age 16, to shake and boilt into a thriving producer of wood and furniture, 
things up. The local version of a corporate raider. Mr. Pinault 
has made his way as a capitalist without capital, a busi- 
nessman who aggrandized himself wito other people's 
money, borrowing and buying low and selling high to pay 
back his debts and still have plenty left over. 

His knack for finding loopholes in French corporate law 
has prompted the government to change toe rules for share- 
holding and takeovers, and his fancy financial footwork has 
fostered a movement to protect minority-shareholder rights. 

Tire corporate establishment has blocked his way several 
limes, but Mr. Pinault’s combination of sharp business 
elbows and deft political influence has made him come out 
the winner more often than not. 

“ When you build an empire, you step on toes, so everyone 
doesn’t love you." said Anne Meaux, a close friend whose 
public-relations firm represents Mr. Pinault and many more 
traditional captains of French business and industry. 

Mr. Pinault. 62. has built an empire on both sides of toe 
Atlantic. Consumers who buy Samsonite luggage or wear 
Converse sneakers or ski at Vail, Colorado, or shop at the 
Prinicmps department stores here are all doing business wito 
a holding company called Artemis SA, which Mr. Pinault 

controls." ..... 

Now, Mr. Pinault is trying to enter the lucrative business 
of financial services, though his bids in recent months for 
lice French insurance and financial-products companies 
haw not yet been successful. In September, for instance, 

Anemxs made a S4.8 billion hostile bid for a venerable 
conglomerate. Worms & Cie., and toe jewel in its crown, toe 

Athena insurance group. . 

Though Mr. Pinault pulled back rather than engage in a 
biddme war, he is not one to give up looking for another . _ _ 

Size. A successful bid would fulfill a "wish we have to be in French executive Francois Pinault in a 1993 pboto. 
financial' sen-ices and products,” said Pauirn Barbuet, • J J T 1 TW 7 l.i 

managing director of Artemis, “where we feel a lot of PmauJt Avoided lax Oil Wealth 
restructuring is coming in France and in fcurape. 

avoi ^ ^ * e 

fb For HoUMrfi ofGermany, Europe|s "TS SS&E SSS 

Agnelli family in Italy, together with Assurances Generales In the 1970s, the government sought to save jobs by 
de France S A. Eventually, Mr. Pinault decided toe offer was devising laws that offered entrepreneurs such as Mr. Pinault 

opportunities to acquire failing privately owned companies 

has taken toe lead in arranging because of the potential im- 

• pact of its crisis on toe re- 
gional and world economy. 

Normally, a member coun- 

try can turn to toe IMF to 

borrow 100 percent of its 
["R - • yearly “quota" — the 

f !*□ amount it usually provides 

L A CllyUL/Co the Fund — or 300 percent 

over three years. In the cases 
snt sought to save jobs by of Thailand and Indonesia, 
jreneors such as Mr. Pinault the rule was stretched to grant 

ham Newman, a spokesman. 
But if toe contribution were 
again rejected, he said, “po- 
tentially it could be serious." 

But IMF rules allow it to 
borrow from other sources. 
And in an extreme case, it 
might even sell gold, though 
gold prices have dropped 

How the resources provided 
by toe IMF can be used varies 
from case to case. 

The institution, without re- 
leasing details, said Wednes- 
day that toe program agreed 
on with Seoul included 
strengthened fiscal and mon- 
etary policies, financial sector 
reforms, further liberalization 
of trade and capital flows and 
restructuring of Korean cor- 

Generally, said Bob 
McKee, chief economist of 

It was one of the few times he has not had his way. Mr. at symbolic prices, often as little as 1 franc (20 cents). Mr. 
Pinaultstarted by quitting school in Brittany to join his father Pinault gradually amassed a fortune by buying up companies 
in toe family lumber business, which he ultimately inherited this way, then using government aid to turn them around and 

400 percent to 500 percent of Independent Strategy, a Lon- 
their quotas. Mexico in 1994 don-based consultancy, IMF 

Jjaqao O -imrtfann Mjcncg FnpK-Prcwt 

Agmce Fnmce-Presse 

PARIS — One of France’s richest men, Francois Pinault, 

sell them at a profit. 

By the late 1980s, he had graduated to bigger deals using 
someone else’s francs. In 1987, for example, he plunked 
down 5120 million in mostly borrowed money to acquire La 
Chapelle-d'Arblay, a foundering paper manufacturer based 
in Normandy, then reaped a profit of $90 million three years 
later when he sold iL Mr. Pinault is skilled at chopping 
companies down to their care businesses, lopping off jobs 
and raising productivity by automating. 

Along toe way, he has forged some lasting friendships and 
business relationships. In the 1970s, he promoted his busi- 
ness around toe southern city of UsseL, where a young 
politician named Jacques Chirac was building a career. Mr. 
Pinault has remained fast friends with Mr. Chirac, who is 
now president of France. At toe same time, he formed close 
ties with Credit Lyonnais SA, France’s largest commercial 
bank, whose local branch in Brittany served from the start as 
Mr. Pinanlt’s bouse bank. 

Mr. Pinault has kept his roots in Brittany, where he and his 
wife, Maryvonne — he has three children and she has one, all 
by their first spouses — keep a sumptuous country home 
whose grounds are dotted wito contemporary sculptures. 
They also have an apartment in Paris. 

Mr. Pinault, who is uncomfortable with the press, declined 
to be interviewed for this article. 

Mr. Pinault has long been involved in distribution, to sell 
either his companies’ wood products or furnishings made of 
wood. His jump into the big league came in 1992, when he 
acquired Au Pxin temps in a complex transaction that ex- 
emplified his aggressive brand of deal-making. 

After sellin g toe hardware chain Conforama fra: $775 
million loPr m te m ps, Mr. Pinault used (he proceeds to acquire 
66 percent of Prin temps. Two years la ter, he rounded out the 
group by talcing control of France’s largest mail-order house. 
La Redoute, and FNAC, a chain of book and record stores. 

Alain Mine, one of an impressive List of advisers Mr. 
Pinault has brought in over toe years to help him wito his 
expansion, described the strategy as "a classical one: to go 
progressively from production to distribution.” 

As France moved out of its recession of toe early 1990s, 

was granted 700 percent 

Seoul's quota is $1.1 bil- 
lion, so toe credit will be nearly 
2,000 percent of thai figure. A 
Fund spokesman said South 
Korea’s quota “woefully un- 
derstates" its relatively recent 
rise in rank to the llth-largest 
economy in toe world and was 
being revised sharply upward. 

U.S. officials have sought to 
be cautiously reassuring about 

funds “go straight into the 
central bank’s foreign-ex- 
change reserves as they draw 
it down, so those reserves do 
not continue to decline." 

He added. “That’s the con- 
fidence factor from the be- 
ginning .*’ 

The International Mone- 
tary Fund sets benchmarks, 
winch typically include the 
level of foreign-exchange re- 

tire IMF's resources and their serves, the way credit is being 
own determination to maintain created in the private sector. 

financial stability in Asia. 

“The IMF has quite sig- 
nificant resources now that 

and trends in the country’s 
money supply. Its funds are 
provided in “tranches," sub- 

can deal with current situ- ject to those benchmarks be- 
ations,” Stanley Roto, assist- ing met 

ant U.S. secretary of state for 
East Asian affaire, said late 
last month. 

Washington pledged as 
much as $5 billion for the 
Seoul bailout, money that can 
be drawn from toe Treasury's 
exchange stabilization fund 
without congressional ap- 
proval. That is just one-fourth 
toe unprecedented $20 billion 
support package the United 

A $700 million tranche of a 
510 billion loan to Russia was 
suspended this year when 
Moscow failed to meet an 
agreed-upon goal 
IMF funds can be drawn on 
to support a country’s balance 
of payments, pay internation- 
al bills and provide foreign 
exchange for importers, all 
aimed at reassuring foreign 
lenders and investors that 

States provided Mexico after they will be paid. 

toe peso crisis of 1994. 

After the Mexico crisis, 
IMF members agreed to es- 

The money is not supposed 
to be used to bail out banks or 
investors, however. 

admitted Wednesday that he had avoided paying toe conn- and as the battered real-estate market recovered, Mr. Pin- 

•_.*« W€fl)th I3X III 1997. oii1* v « rwAu/^I o onlH mini* Rv C^Ilino #vff nn_ 

7’* ^TJTLZLJ-VfFaetivelv into one. try's special weajin tax m iw/. ault’s acquisitions proved a gold mine. By selling off un- 

financiai maraeis npgc c»iw.u j Europe’s Mr. Pinault, who owns a retailing and mail-order empire, wanted units, he got toe cash to pay back the debt that had 

For example. Aiuanz ao 8 j. cori fj nne£ ] a repon m toe investigative weekly Le Canard financed the'buying spree, 

second-largest insurer aa ' _ s . f Ita . v .„ Eachaine cm Wednesday that he had taken oat a loan of 140 The latest to go was Prisnnic, a down-market retailer that, 
bidding war with Asskcnrazumi oen«_ . 3 mini on francs ($23.6 million) to buy shares in his company, was sold this year. Last year, profit at P in a nlt -Printemps- 

swallow up Assurances uenwu Uinnult will eet what be Pmault-Printemps-Redouie SA, so he would be exempted Redoute SA rose 36 percent, to $355 million, as sales 
But tltete isnogua^ t^ ^^ ^^ ^ from toe levy, knnm as toe solidarity tax on wealth. The tax increased 3.6 percent, to $13.8 billion, 
wants. His previous efforts is levied on^et assets, not on loans. But along tfieway. Mr. Pinault’s ways had made him toe 

pany, BanqueIndoraezSA,andW g ho«mie of re- Mr. Pinault’s personal wealth has been estimated by bfcte noire of French finance. In 1994, the Association for the 
Cnmpugme Fmaiwnere dc Punbas. fatiefl Decause oi re- busioess ££gazines at 12.2 billion francs to 12.5 

by o M fiomthe bfflioofia^. See RAIDER, Page 19 

See RAIDER, Page 19 



News of Argentina Sale 

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k iyii ■ IVb 4 % - 4«r Bloomberg News 

* NEW YORK — Gold f^ices fell Wednesday to their lowest 

it h-\ 4 T.-« level since 1985 after Argentina said it had sola a large part of 
,(oremnniem) its reserves of “ctol heightening concern that other 
countries would also reduce their holdings. 

“This confirms the worst fears the market had about 
central -bank sales," said Tony Warwick-Ching, precious 1 
metals analyst at Flemings Global Mining Group in London, i 
714 ta The price of gold has fallen about 20 percent this year. 

7 in 7 v* Argentina was the fourth central bank in the past two years ! 
^ to sell a large portion of its gold holdings. The country sold 
7 « about 124 tons of gold at an average price of $370.22 an ounce 
450 from January through July, realizing about $301 million more 

than ;t would have at current prices, the bank said. Central 
030 330 hflnfrc are the largest holders of gold. 

1 -uianm mtiitinnr al Gold for February delivery fell as much as $350, or 12 

zmMbMenuk 3 Vk 3 ** percent, to $292.40 an ounce on toe Comex division of the 

twjiiiinMnk m » ^lew York Mercantile Exchange, toe lowest for an active 

conoaci since Maich 14. 1985JSairtracts for Dec^ber gold. 
kr*c*, Bo* k_*f_T oA fg -m ifivtitht, w hi c h expire at toe end of the month, fell as low as $291.20 an 

ounce. On Wednesday, gold fell $1.40 an ounce to dose at 
GoId am, pj«. or* $294.50. ^ t 

Argentina is “another central bank that no longer wants 
ft Sin -Lft gold," said Dinsa Mehta, managing director of global com- 
L 9 o 29450 - 44 B modity risk at Chase Ma nh atta n Bank in New York. “The sale 

is affecting market sentiment today." 

K nS SSm Argentina did not announce toe sale earlier because of toe 
international gold market’s sensitivity, its central bank said. 

Admiral's Cup “Marccs". Its special and 
exclusive automatic movement gives 
the time of the high and low tide and 
the strength of the current in relation 
to the phases of the moon. It also has a 
calendar, centre seconds and 24 hour 
supplementary dial. Patented. 

Zfckb HA 292.73 -\JS 

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Maitres Artisans d’Horiogerie 


Sot InlbfKnatlof) write to Conim, 2301 La Ouux-^c-Fonta, SwUxcriauML 


'age 14 



E 5 ? 

| Investor's America 



H.J. Heinz Chiefs Exit Isn’t Quite Complete ^ <y o jj jnU.g., Fed Says 



By Tim Smart 

Washington Post Service 

WASHINGTON — The cartain has 
coroe down on one of corporate Amer- 
ica’s roost flamboyant acts with the 
retirement of Anthony O'Reilly as 
chief executive of H.J. Heinz Co. 

Mr. O'Reilly, 61, who relinquished 
his CEO duties Tuesday, was as much 
at home in Heinz's Pittsburgh board- 
room as aiibe Irish Derby clubhouse in 
Dublin. He had come under fire from 
institutional shareholders and corpo- 
rate governance groups who criticized 
his close control of the Heinz board as 
well as his large number of stock op- 
tions and other perquisites. 

His personally chosen successor as 
chief executive is Heinz’s president, 
W illiam Johnson. 48. Mr. O'Reilly is 

to remain chairman Qf the food- 

products company until 2000. 

Cnw PtabaUMim 

Anthony O’Reilly was under fire, 

man of Heinz in 1987 after having 

Star-Kist tuna, and 9-Lives cat food. 

Still, contrasts remained with the 
revamped Campbell, which has bo- 
come a model ox corporate governance 
while die Heinz board remaned 
packed with friends and business as-; 
sotiates of Mr. O’Reilly. 

Mr. O’Reilly's pay, which had con- 
sistently ranked him among the most 
heavily compensated U.S; executives, 
also angered some investors. Heinz's 
most recent corporate proxy statement 
said Mr. O'Reilly had received £L9 
million in pay, bonuses and other com- 

As the company's largest individual 
shareholder, Mrl O’Reilly owns 6.1 

GMpfe4^0wSltfftiMTX>ivm*s .. 

NEW YORK —US. man- 
ufacture* azid farmers are 

at Boston . Parmets 

The lower bond rates un- 

ctrwTrng to feel the con- derpinned the stock market, 
gcq \iwift>» of financial prob- ' but the report’s alatm bells on 
lemft ranking Asia, tbw Federal ' 'the' potential Asian impact on 
. Reserve said Wednesday. : eoaporate profits kept share 
/‘Asian financial turmoil prices in check.- 
and currency , weakness have - The Dow Jones industrial 

adversely affected demand for average finished 1311$ points 
Tnannfartimvl and a grieuHnral higher at 8^032.01, and gain- 

served as chief executive since 1979. A' million shares valued at $343 million 

former professional rugby player who as well as 
set scoring records for the Irish national valued at a 
team, Mr. O’Reilly wowed Wall Street ■ Some s 
in the 1980s as be revved up the tired much time 

as well as options on 750,000 shares 
valued at a further $42 million. 

Some analysts questioned how 
much time Mr. O'Reilly spent on 

exports,” the Fed said in its 
so-called beige book report, a 
survey of economic condi- 
tions by its 12 district banks. 

“Same districts .report in- 
creased competition from im- 
ports,” it said. ... 

U.S. factories, meanwhile. 


tag issues outnumbered los- 
ing ones by a 4-to-3 -margin 
on the New York Stock £x- 

The Asian turmoil has been 

Source: Bloomberg. Reuters 

Very brief ya 

• Cohunbia/HCA Healthcare Corp. is cutting 750 jobs at 
Florida home health care sites, after patient volume fell amid a 
governm en t investigation that has yielded fraud indictments 
against three executives. It also will pay $71 million to settle a 
tax dispute over executives’ stock options. 

• Newbridge Networks Corp. will dismiss 280 people, 
mostly at UB Networks, a U.S. distribution company that the 
maker of networking equipment acquired last year. 

• TrizecHahn Corp., a real-estate company, bought the Sears 
Tower in Chicago for $70 milli on and assumed debt 

• Cia. Forca & Lux Cataguazes-Leopoldinha is leading a 
group paying 577 million reals ($520.2 million) to bay the 

products company until 2000. brand and went on a global shopping Heinz business, given his many outside 

“I think he’s making tire right spree for international food companies, interests, which include owwsship of 
choice,” said Nell Minow, a principal at But Heinz lagged in the 199% as its the Independent Newspapers group of 

Lens Inc., a money-management com- arch rival. Campbell Soup Co., mod- Ireland and a majority stake in the 
pany based in Washington. “It’s great cruized under a new, outsider chief company that makes Waterford crystal 
be recognizes it’s time for him to go.” executive and a revamped board. and Wedgwood china. 

Bat Ms. Minow criticized Mr. This year, Mr. O’Reilly launched a Mr. CfReilly also kept busy with 
O’Reilly’s decision to continue as major restructuring of Heinz, prom- international diplomatic events, such 
chairman, calling it a “big mistake” ising to cut costs by closing 20 percent as hosting a party for Nelson Mandela 
that could inhibit Mr. Johnson's in- of the company's 120 factories world.- in 1993 and participating in various 
dependence. wide. Heinz also Mid it would spend Irish American fund-raising activities. 

Mr. O’Reilly became the first person more to market some of its venerable Heinz shares closed at $55,125 
outside the Heinz family to rise to chair- brands — including Heinz ketchup, Wednesday, up $250. 

continue to operate ax a, hi gh ■ particularly tiard on technol- 
level and wage pressures per- ogy companies, who are look- 
sis ted as low unem ployment ing to 'Asian demand for sales 
led to shortages of qualified growth. 3Com. wasJhe most 

Mr. O’ReQ 

Mr. O’Reilly became the first person 
outside the Heinz family to rise to chair- 

and Wedgwood c hina. 

Mr. 0 Y Reilly also kept busy with 
international diplomatic events, such 
as hosting a party for Nelson Mandela 
in 1993 and participating in various 
Irish American fimd-raising activities. 

Heinz shares closed at $55,125 
Wednesday, up $250. 

workers in many industries, actively traded U-S. stock, . 
fheFedsaid. falling V* to 35 1/16, after 

The Fed's regional out- blaming slowing sales in Asia 
look, published eight times a for disappointing profits. * 
year, is based on reports from Adaptec fell 4/fe to 41 3/16 
the Fed’s 12 district banks. after ah analyst at Sound View 

Analysts said the report Financial cut his profit fore- 
was likely to stall any in- cast -for the computer net- 
crease in interest rates, which working company, 
sent Treasury bond prices Among the gainers, Merck 
higher. The price of the rose to after the drug- v 

benchmark 30-year issue maker said it was developing ; } 

higher. The mice ■ of the 
benchmark 30-year issue 
closed up 7/32 point, taking 

the rose 214 to 97% afterfoe drag- 
issue maker said it was developing 
iking an anti-depressant foat would 

German Comments Sink Dollar Against Mark 

the yield down to 6.02 percent compete with . such biock- 
from 6.03 percent Tuesday. ' buster drugs as Prozac. 

The yield touched 6 percent in 
intraday trading. 

AT&T rose 114 to 57 13/16 
on published reports that the 

Bloomberg News 
NEW YORK— The dollar 
fell against tire Deutsche 
mark Wednesday after a 
Bundesbank council member 

they don’t want inflation.” “The comments from Jap- have a short-term dampening 

_ _i_u f_n i ce^.i. : n u.. »» 

“People want to try to company’s new chief exec- 
break foe 6 percent Level, utive would sell assets and 

The dollar fell to 1.7715 anese officials and Rubin, in- influence on foe dollar,’ 'said .based on the continuation of discontinue operations to pre- ^ 
DM in 4 P.M. trading from rfirairing their preference for Robin Marshall, chief econ- this ‘Asian flu', and low in- pare foe company for com- 

1 TTJC mf T J D..4 d.. (U. «t Du,. in TIC >> nfttMnn in tho Innoji'ictniW. * 

electricity distributing company Empress Energetica de Ser- SURgestcd ^ German 

gipe at auction from foe Brazilian state of Sergipe. 

central Hanlc may sell dollars 

• Internationale Nederlanden Groep NV is buying foe to lift foe German currency, i ties may 

Chilean insurer Cruz Blanca Seguros de Vida SA for $120 

million. AP. Bloomberg 

1.7775 DM Tuesday. But foe 
U.S. currency was little 
changed against foe yea as 
concern that Japanese author- 
ities may sell dollars to stem its 

□o further weakening in the omist at Chase Investment flation in foe U.S., 

yea, are likely to continue to Bank in London. 


petition in foe long-distance 
market (AP, Bloomberg) 

The council member, Ernst rise outweighed expectation 


Pact on Foreign-Investment Curbs ^“^“2 

Bloomberg News — 

SANTIAGO — The Western Hemisphere’s finance min- FOREIGN EXCHANGE 

is tors, facing fallout from tumbling markets in Asia, agreed 

Wednesday that restrictions on foreign-investment flows the dollar since early Novem- 
coold be used, to cushion foe blow from financial shocks. her, some traders took foe 

Minister s from 34 countries . using carefully grafted lan g ua g e comment as a sign foe bank 
to overcome U.S. objections, agreed in a joint statement that might act to keep foe mark 
foreign-investment controls were “a useful complement to, but from weakening further, 
not a substitute" for sound economic policies, strong regulation “Welteke’s hint warned 

and other means of protecting markets from turmoil. traders to watch out for in- 

“The key is, there may be a debate about capital controls, but tervention from the top,” said 
there should not be a debate about substituting capital controls John Hanly. manager of for- 
for sound policy," said Robert Robin, foe U.S. Treasury eign exchange at Bank Aus- 
secretaxy, who attended foe two-day meeting in Chile. ..... tria. “The weakening of foe 

He said countries could be 
controls instead effacing the’/ 

d to implement capital 
ties of sound policies." 

AP. Bloomberg Welteke, said the Bundesbank that foe worst may not be over 
would do what was necessary for Japan’s faltering economy, 
to ensure the mark’s stability. The dollar edged up to 128.725 
flirta With foe German currency yen from 128.645 yen. 
liUliPd down nearly 4 percent against Finance Minister Hiroshi 

_ Mitsuzuka of Japan said ex- 
0REIGN EXCHANGE cessive yen weakness was not 


i dollar since early Novem- Against other currencies, 

r, some traders took the foe dollar slipped to 5.9327 
mment as a sign foe bank French francs from 5.9478 
ight act to keep foe mark francs and to 1.4310 Swiss 
«n weakening further. francs from 1.4340 francs. 
“ Welteke’ s hint warned The pound rose to $1.6840 
tiers to watch out for in- from $1.6815. 
ventioo from the top,” said Treasury Secretary Robert 

tm Hanly. manager of for- Rubin also recently said be 
gn exchange at Bank Aus- shared Japan's concern over 
a. “The weakening of foe foe yen’s weakness, reinfor- 

Wefoiesday’s 4 PJf. Close 

Tlw 300 most traded stocks of flit day, 
up to the dosing on Wol Street 
Thofissod^od Press. 

urn U to o*t 

traders to watch out for in- 

eign exchange at Bank Aus- 
tria. “The weakening of foe 

mark has . foe jpotential .to qng -traders* -unwillingness to 
causk infliiubn vi a time when 1 fo&doflar. higher. 


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Romania’s Cabinet Brings Reform Hopes 

ByPeierS. Green 

fotrrnMuvut ItotM Tribu ne 

PRAGUE — This week's shake-up in the 
Romanian government could restore tEe“ usf 
ness community’s faith in the cotmtnf's £. 

cs ^* c,aUy ^er months of govStuiJSi 
foot-dragging on vital economic reforms in 
vestors and analysts say. ’ ,n 

But they also warn that the government will 
haw to take major action by the end of this 
month to rebuild its credibility. 

Key reforms speeding privatization and pro- 
tecting uj\ esimenj are still needed, some analysts 
say along with clear signs that the government 

£ 5"®* ha, ‘ . 1IS subsidies to unprofitable 
* stare enteipnscs and rein in public spending. 

Tire cabinet shuffle, aided by prodding by 
F^residem Emil Constantinescu. came Tuesdav 
after months of bickering in the four-party 
coalition led by Prime Minister Victor Ciorbea. 
™ government came to power late last year 
after seven years of leftist rule left Romania far 

Switzerland Loses 
Market Share in 
Offshore B anking 


GENEVA — Switzerland’s im- 
, portance as an offshore fund-man- 
? agement center is declining, with 
fewer than three of every 10 offshore 
dollars managed here, compared 
with four of 10 a decade ago, the 
author of a study said Wednesday. 

Henner Schierenbeck. who heads 
die Center of Economics and Busi- 
ness Administration at the Uni- 
versity of Basel, said at a private- 
banking conference here that more 
money was going instead to other 
offshore centers such as Luxem- 
bourg and the Caribbean. He also 
predicted that Swiss private banks 
would have to cut their fees in the 
lucrative advice- based business. 

But. he said, even though its mar- 
ket share was declining. Switzerland 
remained the world's most important 
offshore financial center. Recent 
*. bank surveys pul the volume of client 
' assets managed here at $2 trillion. 

He attribuied (he loss of market 
share to international criticism of 
Swiss banking-secrecy laws, the re- 
sponse to recent disclosures about 
Swiss handling of the assets of 
Holocaust victims and the shrinking 
role of die Swiss franc as the Euro- 
pean Union prepares to introduce its 
"tingle currency in 1999. 

behind in efforts to reform its post-Commuoist 

The new cabinet includes Finan ce Minister 
Daniel Daianu, the Western-trained chief econ- 
omist at the central bank; Valentin lonescu at 
the new Privatization Ministry, and Reform 
Minister Hie Serbanescu, a noted economic 
commentator. All have been vocal critics of 
Romania’s stalled reform efforts. 

“Each of these ministers needs to take some 
fairly prominent concrete action in the-nexr few 
weeks to show they are more than just new faces 
on old, stalled programs, ’ ’ said Roger Monsoo, a 
senior analyst at Daiwa Europe Lid, in London. 

Analysts say Romania's problems are not 
overwhelming. Other former Co mmun ist coun- 
tries have faced and overcome similar handicaps, 
they say, but success will require tough action. 

"I have hopes, but I can’t say I’m happy about 
the government, because the new people have 
not presented a plan,” said Dan Barbulescu, a 
director of Vanguard, a Bucharest brokerage. 
"They have to nave enough spine to face down 

and make sure there is no repeal of the settlement 
with the miners and civil servants.” 

A flood of payments to civil servants, laid-off 
miners and subsidized industries threatens to 
undermine the success of measures that have 
tamed inflation and stabilized the currency 
since the current government took office. 

Hungary faced a similar situation in March 
1995, when stalled reform efforts threatened 
hyperinflation and economic collapse. Wages 
were frozen, civil-service jobs were cut 10 per- 
cent, the forint was devalued 9 percent, and a 
rapid privatization of strategic assets raised sev- 
eral billion dollars that went to paying foreign 
debt. Today , Hungary is one of Eastern Europe’s 
best-performing economies, with projected 
growth of 3.4 percent for 1997. 

In Romania, inflati on jumped to 6.5 percent 
in October after hitting a low of 0.7 percent in 
July, and the economy will probably shrink dus 
year before growing 2 percent to 3 percent in 
1998, according to some forecasts. 

The slimmed -down Michelin man, left, will appear in the company's new advertising this month. 

The Michelin Man to Shape Up for His 100th Birthday 


PARIS — The tubby Michelin 
man. nearing 100, has been put on a 

The rotund logo, known around 
rhe world as a symbol of gustatory 
excess, will soon appear in a newer, 
slimmer version to mark his 100th 
year as an employee of the tire maker 
Compagnie Generale des Etablisse- 
ments Michelin SCA. 

The advertising character, who 

looks like a stack of tires with arms 
and who is known as Bibendum, has 
changed appearances many times 
since his debut in April 1898 in a 
drawing by the French designer 

But his waistline will no longer be 

“Thinner and smiling, Bibendum 
will look like the leader he is. with an 
open and reassuring manner,'' Mich- 
elin said Tuesday m a statement un- 

veiling the new Bibendum, who will 
begin appearing this month in ad- 
vertising for Michelin products, 
which also include guidebooks. 

An international public-relations 
campaign directed by the French 
advertising agency BDDP will cel- 
ebrate the new Bibendum, whose 
name is derived from the Latin 
phrase “Nunc est bibendum," 
roughly translated as, “Now is the 
time to drink." 

Russia Set 
To Raise 
Its Rates 

Central Bank Tries 
To Reassure Lenders 


MOSCOW — Russia plans to 
raise interest rates soon to calm mar- 
kets, but the turmoil is not threat- 
ening local banks or plans to ease 
restrictions on foreigners withdraw- 
ing funds, the central bank said 

“We intend to raise the refinan- 
cing rate, but will do it after de- 
termining a balance on the securities 
markets, and this will probably be 
based on the results of this week,” the 
central bank chairman, Sergei Du- 
binin, told an investor conference. 

‘ ‘Perhaps we will need a few days 
next week,” he added, without spe- 
cifying by bow much the rate would 

Yields on government paper have 
shot up despite efforts by the central 
bank to stop investors fleeing mar- 
kets, efforts that appear to have 
eaten into foreign reserves. 

Mr. Dubinin said the reserves, 
which include currency and gold, 
were at about S 1 8 billion at the start 
of December — more than $4 bil- 
lion below their Nov. 1 level, which 
he had said was $22.6 billion. 

Investors had feared that heavy 
losses suffered by some Russian 
. banks in stocks and bonds may have 
led to disruptions in the domestic 
banking system, but Mr. Dubinin 
said banks were not under threat. 

Separately, Vnesheconombank, 
Russia's bank for economic affairs, 
said the country had completed its 
restructuring of Soviet-era debt to 
Western commercial banks, ending 
six years of negotiations on the re- 
payment of $3 1 billion in defaulted 
loans and past-due interest. 

Russia agreed to turn the prin- 
cipal portion of the defaulted debt 
into $22 billion worth of new, long- 
term loans, while providing $6 bil- 
lion in long-term notes for past-due 
interest and $3 billion in cash. 

Russia has faced financial pres- 
sure in recent weeks because of mar- 
ket turmoil that started in Asia, but 
Mr. Dubinin reassured investors 
that a pledge to lift restrictions for 
foreigners on Russia’s currency 
markets from 1998 would be 
honored. (Reuters. Bloomberg ) 


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5j6 SJ7 5J6 
142 352 145 

941 9JD 950 
*88 9.12 985 

137 117 344 

1656 1658 1646 
531 S41 543 

2.76 282 2J9 

6*2 662 681 
610 615 886 

453 455 448 

138 141 140 

447 448 445 

283 110 286 

989 9.9S 985 

147 147 

5J0 538 533 

616 640 646 

440 446 47* 

832 547 624 

783 7.0£ 786 

ISO 280 281 

657 651 677 

43* 435 4.14 

482 443 453 

*38 635 631 

538 581 582 

146 168 187 

1081 mi3 10.17 
385 191 389 

12.01 13J1 12.99 
1125 1346 1334 
844 848 847 

585 536 547 

2.9* 111 387 

186 4 1A5 

534 538 546 

677 686 784 

755 740 752 

1508 1520 15» 
843 167 172 




Ba Centro Hup 












Vtdenc Cemenf 


Ayala Loud 
CiP Homes 
Manila Eke A 
Metre Bank 
PM Long DM 
SM Prime Mg 


Ado A 
Banned B 
Cemex CPU 




Goo Fin Mmiwj 

Kano Oaric Mex 






9JS 880 
344 340 

638 631 

Johannesburg «K2SESSS 

0.4A «»AA VXA 

RcnkAd lmCat 233 24S 
ReukreHdgs 68J, 655 

A&5AGW0 »» 7 250 ^54 

AoBknAm G*« ,ib |23 

ass aa it & ^ 

& m £* ss ss £J 8 

CO SRI*! ,niw fa | M 1040 llOtO 
MI0 * 33 

AM 41 JO 

FsfNoBA 7.75 790 

u«*.0r 6570 OX 

f- Sass 

RMC Group 

190 783 

744 7J7 

935 9 

2.47 238 

Royal BkScof 785 6K 

ts SS 
5855.^ ig i« 
i ssssr » a? 



174 170 
9.70 9J1 

ShetTnmspR ^ a« 

&ithe U84 II JO 

Smffii Nephew JJ9 

SfnWPGifK 609 697 

Saoha >nd *35 788 











?«™ U.90 

7 ,6 2.10 114 71* 

% si ^ *§ * 

l v & & 


,0*80 IfcJO 10620 l»M 
B 3675 37^ D-Jg 
5,3 55» 56*0 S7.10 

Slhcfn EkC 
smq e a w m 

4*8 459 

834 7J2 

Stand Charter 7.15 690 

TtfcCUfta 60 477 

Testa 5.00 4*5 

rumes Water 931 9.12 

3I&WP 617 5 

T1 Group 620 4*4 

TaaUas 112 384 

UnRoMT 481 670 

Uhl AswreriC* 536 615 

3.90 1*4 

643 648 

283 281 
934 943 

284 164 

613 6U 
7.13 787 

1.90 180 

623 *39 

564 53* 

1474 1672 
3 382 

574 56* 

985 889 

739 745 

169 3*1 

Z53 257 

662 645 

B.17 834 

13S 186 

738 78* 

619 485 

679 651 

1044 KL14 
248 18* 

*94 *99 

247 241 
63S 637 

248 1A 

581 6*3 

287 284 

731 738 

934 9 

241 138 

690 67S 

58S 545 
237 334 
504 S81 
1*42 1*32 

730 7.1* 

490 478 

170 233 

942 949 

419 416 

1181 11 J4 

1.72 189 

*83 60? 

a» 7.90 
447 468 

781 780 

7.12 7 

482 436 

581 493 

Ml 9-14 

588 501 

497 490 

38* 389 
478 473 

HO 519 
7J6 743 

ABboiizd Assk 

Ben Conan tw 




CROta (taflano 













Roto Banco 
SPooto Torino 
Tctooora Hafia 


Bee Mob Cob 
C dnTfacA 
Natl Bk Canada 

Power. — 
Rogers Co«mB 
Royal ffl.Cda- 

1982 1930 19J9 19.18 

Baba todee 41*37 
Previous: 421 JO 

24350 24490 24730 

2000 2036 2046 

6260 *330 4380 

me 9330 9330 

45M 4590 4*26 

U20 1420 1426 

B400 8420 8510 

3036 3075 2330 

WHO 9*50 97C0 

4555 4500 4*05 

4570 46*6 4650 

2930 2965 2950 

7500 7*50 7550 

2B30 2845 2B6G 

1315 1345 1340 

71 BO 7240 7380 

1980 1980 1995 

2375 2485 7400 

6440 6440 6540 

1440 1440 147B 

11300 11340 11380 

4510 4540 4550 

1490 1500 1500 

2830 2825 2B70 

PSE Mac 179989 
Pre vious: I779J6 

U 1175 I17S 1160 
14 1175 1175 1350 
87 JO 8250 B750 8180 
22! 282 220 284 

7650 7450 7680 74 

Z75 2*250 267 JO 277 JO 
345 US 145 140 

135 133 135 135 

860 845 B60 B60 

4* 45J0 45J0 45 

6*0 SJO SM 550 

Baba todex: 511334 
Prevtan: 6126*7 

6270 6120 *190 
1936 19.90 19j66 

3680 3*30 36 JO 
1638 1640 1640 
40.10 40.10 40.10 
55 M 6620 5670 
388 115 114 

TT4 Q 1101 

37 JO 3765 3780 
15780 15780 158«) 
21J5 21M 71 JS 

Ml* TetoreaSeo: 16584M 
Pimtoas: I6S9X80 

1780 1*310 1*650 16500 
3U0 5000 6005 MSS 

'470 7306 7470 7310 

437 140* 1430 1430 

050 27400 27800 27950 
1840 4720 4800 4815 

1980 9700 9940 9785 

000 9760 9760 10000 

«S9 5010 5120 5150 

100 38700 39000 38950 
B25 18310 1M5P 18500 
K» 3025 3050 3075 
825 6*90 *7*5 6785 

1600 8330 8450 8545 

I486 12290 12400 12450 
499 14*9 1490 1480 

977 964 970 969 

J25 24*5 2470 2550 

2S200 24800 25050 25200 
15080 14570 14915 14695 
11040 10910 11020 10995 
73S 7135 7330 7145 

ledastreds tarter 1777 51 
Previous: 337689 

*0 39*0 39.90 3980 
VH 29.15 9k 9J5 
9k 39 JS 39 JS 39*0 
S3 S3 53 51.90 
.70 18 1835 18*5 

35 34j50 34M 34H 

80 51.10 5280 51 

80 41 Li 4180 41 

M 24.16 3640 24to 
.40 XFA 2295 2105 
Ua 4?t 4680 4195 
.70 46 45Li 45 

JO 27^ 27J0 27 JO 
35 630 630 630 

81 79b 79*5 8036 

OBXiedae 658JS 
Prrrioes: 6*430 









Canal Plus 






Credit Agncole 




Erriaom BS 



France Teiecwn 

Gen. Eoux 









Pernod Rkred 


PWoult- Print 




Rh- Poulenc A 

SGS Thomson 
St* Generate 
Sub {Ck) 

Suez Lyon Eoux 
Thomsoii CSF 
Total B 

CAC-Vt: 290235 
Prevtoav. 291389 

11*2 119 1159 1164 
33670 332M 33330 33670 
940 927 933 943 

746 731 734 766 

439.40 43230 43AM 432*0 

910 899 907 90S 

429.90 41610 425 422 

29680 288*0 29280 29080 

1045 1022 1027 1033 
3272 31B6 3190 3276 

333.90 328J0 33390 329.90 

360 358 WttB l 3*0 

777 7*V 776 773 

*57 625 652 632 

1114 1100 1114 1100 

993 967 992 970 

650 637 645 644 

*76 *62 671 *64 

971 931 9*1 933 

7 JO 7 JO 7 JO 7M 
6*0 6JS 640 6*5 

717.® 21580 21580 717 

837 7*7 795 792 

407 400*0 4065D 40570 
707 *97 m 707 

39680 385J0 385.90 39* 

1200 1180 118* 1194 

23*0 2325 2337 2349 

1085 105S 1057 1080 

B0 323 327*0 32650 
44190 43670 44180 440 

318 308 31 7 JO 307.78 

699 *84 *99 *90 

3170 3101 3141 3110 

2325 226* 2297 2265 
17620 1M50 17110 171*0 
1811 1777 1790 1800 

272.40 2*7 269 2JOJO 




Ericsson B 



investor B 




Scania B 

SrE Bankon A 
Skandia Fors 

Store A 






Brambles bid. 

Coles Myer 

Fasten Brew 
ECI Austnrila 
Lend Lease 
Nal AuslBmk 

248J0 249 

291 JO 297 JO 
*10 *09 

297 317 

359 357 

716 722 

379 JO 389 

217 719 

2*880- 279 
271 3*1 

237 238J0 
18* 190J0 
174 171 

92J0 9250 
39* JO 405 
330 329 

1B2J0 189 J» 
201 JO 199 JO 
10O 103 

281 280 JO 
219 21 8 JO 

ABOnfeeanes: 2562*0 
Previous: 252480 

677 A** 

10J5 1034 
1670 1610 
383 175 

2&*1 28.15 
17J0 1782 
11*0 11 
7J2 7J6 

6*0 6.15 

5 6§» 

2J8 175 

236 2.38 

1133 10J3 
31*9 3030 
1.19 1.11 

20*0 20 

676 6*8 

10 .75 1035 

16*1 1614 

3.75 1A5 
78-17 28.40 
17.10 17.18 

11 1130 
7 JO 7.58 
622 695 

695 693 
2.7B 276 

23* 2J3 

11.1* 104 
3182 30JD 
1.15 1.12 

20*4 20. » 

^jOAX: : : ' : iFT^E. I 1 ©© , .. GAO 40. / ' 

• 4500 ~r~~~ , 5500-'- ’ ;;3ili» * 

4300- A 4 5300 M " " 3000 A A 

; mf Wl / 5100 6 J 1 2900*1 lWf 1 I 

■ 3900 / — -if -W— lJ/ - " 2800 I 

! 3700- If— ' 4700— ^ 2700 - P 

a'sond^jTs'o'nd: a so no 

1987 1997 1997 

Wednesday Prew - -: % ■ 


jflijsjff- • vsta^f ; 

Ooper a M^ea': ^^dkM8^8t . g3&^4. .. 8 . 641.15 -0.33. 


M;::':::”: r-a^ae 
' ‘• ■ 437Q.70 4.R7r.60.'"-6:i4| 
-Stock Btoheftge \giag7- sai.70 -o^5 1 

^ - y :cy>e 4& ; , ■ zjaozzs z9iaoa -0.37 

■ ' 3^SS34 3,331.50 -ZZSt 
'"■ •-•••' i^ss.og riOio 

V17^g ;37149g -fQ.06 

SOti/ce: Tetekurs InicnuuiHul Herald Tribune 

Very brief iys v 1 

• Gucci Group NV said third-quaner profit fell 6.3 percent, to " 
$43.1 million, amid an expected decline in sales in Asia and t 
Hawaii and the devaluation of several currencies against the - 
dollar. Gucci warned in September that its profit would be hit by t- 
the worsening of the economies in some of its Asian markets. 

• Ford Motor Co. said it had trade-union backing for a two- •'! 
year pay deal valued at least 8.75 percent or more for its 30,000 
British workers. 

• Hambros PLC is negotiating with several companies in- 0 
eluding Generale de Banque S A of Belgium to sell all or part ti 
of its banking business. But the talks do not involve the sale its T - 
nonbanking operations or financial-services company. c 

• Banca Commerciale Italians SpA said Europe's planned "> 
single currency would cost the bank 460 billion lire f$265.3 « 
million), most of it from lost income on interest margins. 

• Ericsson AB plans to save 2 billion Swedish kronor ($257 !- 

million) a year after 1999, when it plans to completes a cost- •:> 
reduction program in its Infocom division. * 

• Carlton Communications PLC said its second-half net 7> 
income rose 4 percent, to £108.1 million ($181.9 million), as ^ 
its TV advertising and products, film and production units 
drove growth, offsetting lower video sales. 

• Bass PLC announced a bigger -than- expected £177 million 77 

write-down of its Gala bingo-club assets. The write-down and " 
the British brewer's £60 million in costs associated with its 
failed attempt to buy Carlsberg-Tetley contributed to a 29 
percent decline in annual profit, to £477 million. •’ 

• Quebecor Printing Inc., a Canadian printing company, * 
offered £1883 million for Watmoughs Holdings PLC of J 
Britain to try to expand its presence in Europe. 

• Lego AS, a Danish toymaker, said it was considering setting ! 

up Legoland amusement parks in southern Germany, Japan ; 
and South Korea after the success of its park near London, 
which opened in 1996. BkHtml tern. Reuters 

The Mb Index 

Jan. 7. (992= 103 Low 

Press as rtSOOP.M Now York ume. 

% changs 

year to date 
% change 
+ 15.76 

- 18-67 
+ 18.11 
+ 34.52 
+ 31.69 

World Index 172.66 -0.11 -0.06 +15.76 

nofl i o na l Indexes 

Asio/Pucifrc 100.38 —0.30 —0.30 — 1857 

Europe 190.40 -025 -0.13 +18.11 

N. America 217.88 +0.12 +0.06 +34.52 

S. America 150.69 + 0.61 *0.41 +31.69 

Industrial Indexes 

Capital goods 216.61 —152 —0.70 +26.73 

Consumer goods 207.46 — 0.41 — 020 +28.53 

Energy 195.00 + 0.67 + 0.34 +1423 

Fmance 121.65 +024 +020 +4.46 

Miscellaneous 156.39 — 1.14 — 0.72 — 322 

Rarr Meumats 17124 +024 +020 —2X12 

Service 173.61 +0.48 +028 +26.43 

Utmdas 163.76 —0.40 —024 + 14.15 

Tim Uuemauonai Haiaut Treiune World Stock InOesOrracits ihe U.S donor value 
of 280 intamaUanaty Invostabie stocks trtxn 25 countries. For more mtoonanon. 
a tree booklet is avadabia bv wanting to The Tnb Index, tfli Avenue Charles de 
GauOe. 92321 NeuVy Ceaex. France CompSea Dy Bloomberg News. 

Mitsui Trust 


















21 'A 








Newbridge Net 

63 Vi 

























Nthern Telecom 



















Nat Mutual Mg 














338X0 331 JO 332X0 


News Carp 









Paneiln F’eflro 








PadAc Du-Mp 





Nippon Ofl 













Pioneer ion 









Placer Dome 








Pub Broadcast 


















Rio Unto 










Potash SasK 








SI George Bonk 













































Ropers Cornel B 















Secesoni Co 





167 JO 








Osakn G® 





Shea Cda A 




615 619 

93.90 9*J0 

1610 1480 1580 1620 

13000 13900 13900 12900 

Taflsraan Enr 

4SVt 46<v 
*lv» 43JB 

ji.ju . 
2316 . 

25.05 , 

I9JB : 
11.95 ' 
118U C 
29vy r 
2*40 , 

151* ’ 

AS* } 
471* ’ 

41.70 • 

Sao Paulo — Ta *pe> 

Canto Phi 
Daudonco P(d 



Ustowios PM 



Dpauno Heavy 


Korea El P* 
Korea EndiBk 

HJ5 8J0 
751330 745A0 
5100 CTHtl 
7 A 990 72JD 
13J0 1480 
54100 547 JX) 
51000 SlOiM 
460.00 440 
300110 wim 
262-00 266X0 
161 JO 1*0X0 

28.90 29*9 
B.70 BJ0 

123.50 122X0 
130.98 133X0 
117X0 llAXO 
319X0 310X0 
3*90 36.90 
7X1 6X5 

20.90 2DJ0 

Compastte todac: 379 131 
Previous: 376X7 

49100 43900 49100 4S500 
5100 4400 5100 5000 
7280 7280 7280 7910 
4700 4SS0 4600 5000 

14*00 13200 14*00 13*00 
3890 33*0 3850 3£» 
15*00 15400 15*00 11900 
4B300 42500 48300 44800 
34500 29900 34500 32400 
42000 34*00 41900 3V7D0 
*420 5750 *420 5950 

372500 34*000 372500 345000 

Camay Life Ire 
Chang Kvn Bk 
□ten Tung Bk 
China DevripmJ 
Chi no Steel 
tint Bank 
Farmrai Ptasltc 
Hud Nan Bk 
Ml Comra Bk 
NanYa Ptasria 
Shta Kang Lite 
UM Mod Else 






































Sanyo Elec 





















































TO 1 * 





















SNkoku El Pi 

«r 1910 




Westcoasl Eny 


























































ATX radCK 1215X3 







PrenoM: 127410 

Sum If Chora 














HBUZSSs 1*58558 
Previous 1(91529 

Singapore m myrnu mixt 

Hgfflond A 
Monk Hydra 
Hooke SkogA 





12*50 12550 
IM 183 
26.70 2*10 
31.20 SSM 
1 01 99 

45 45 

360 358 

3*3 357 

222 21 7 JO 
188 IBB 
*34 *28 

460 452 

127 1 2450 
130 12850 
340 340 

4850 47 JO 

12*50 127 

UO50 185 

2*10 3*60 
31.10 31*0 

w in 

45 44 

3S9 360 

£9 3*2 

220 220 

tas too 

*30 635 

455 AMJ0 
12*50 129 

130 129 

340 340 

<7 JO 48*0 

Asia POC Brew 
Cycle Cantata 
Oaky Farm Int 


Fraser* Neme 
JanJ Strategic 


CT5 Union 
PtKlmay Hdgs 
Sing Air foiMi 
Sing Land 
Tat Lee Bank 
Uld industrial 
Wing Tal Hagt 

“maj Oafiara. 

PraftoBB 1*97X6 

4*0 4*0 4*8 

8 120 110 
7.10 7.10 7J5 

0.92 0 92 0.92 

15*0 1SJ0 15* 
2.70 2.73 2J1 

110 115 115 
2.18 2J1 2.19 

530 SJO 5*0 
2X9 2X9 2.93 

5*0 5J5 5J0 

2J0 2J0 2J0 
4*3 4*2 £M 

2JB 159 2X1 
10* 1050 10* 
*55 *55 6.75 
3*4 3J4 1*0 

5X5 SJO 5* 
1070 10* 11.10 

4J* 4X2 4J4 

22 22*0 2110 
1J9 U1 1*1 
398 104 SJO 

163 2*7 2*3 

0.72 0J2 0J3 

10* 1050 10J0 

2X7 111 2X7 


j ffi ^ 975 9^ | 

rr 139 13*50 137J0 ff 



AsaM Gtoss 

Bk Tokyo Mltu 

Bk Yokohama 





Dal filpo Print 


Dal-ldii Kotg 


Ddwa House 




East Japan Ry 


Hoadjutu Bk 


Honda Malar 






Japan Tabacm 





Krona Steri 
KtoU Wpp Ry 
Kirin Brewery 
Kobe Steel 
Kyushu Bee 

Matsu Cana 
Mabu Etoc In* 
Matsu Elec Wk 
Mitsubishi El 
Mitoubtetd Efil 
MBsubtohl Huy 

























Sumit Trail ... 

Tasto Pfeonn 32* 

TatetoOtem 3740 

TDK 11200 

1830 17* 
394 343 

28*0 2790 
3210 31 W 

2020 2010 
1900 1850 

2450 2430 

554 485 

100G 975 

355 298 

472 441 

1800 18X1 

384 398 

283D 1840 

3190 3210 

2010 3030 
1850 ion 
24*0 24*0 
iS» 558 
990 999 

330 315 

970 1020 
442 4B4 

3990a 3850a 3870a JMOa 
2* 2340 23* 2390 
5820a 5770a 5790a 5840a 
1920 18*0 1880 18*0 

4970 4840 4840 4920 
718 470 *92 721 

4590 45*0 4® 4*00 

14*0 1440 1440 1450 

lire 1070 ireo 1070 

9*7 94* 959 950 

4750 4*50 4*70 4670 

1150 1120 1120 11*0 
281 270 270 272 

335 321 321 330 

*110 9J90 6030 4040 

399 395 395 398 

9780a 9660a 9*A0a 9780a 
2180 2040 TWO >1*0 
435 422 428 429 

2170 2160 2170 2180 
1770 1740 1740 17* 
300 295 29* 307 

209 205 205 211 

»4 *9* *9* 700 

995 977 977 9BJ 

111 117 117 ?2I 

731 720 720 7* 

432 434 451 

*290 *90 *250 *200 
1940 1920 1930 19* 
g0 225 2* 245 

305 295 300 309 

TohOkuEJPw 1920 

Total Bank 


Tokyo El FNtr 2280 

Tokyo Etackon 5200 

Tokyo G«c ~ 

Tokyo Cotp. 


Topprai Print 
Tow Trust 
Toyota Motor 

2*5 259 2*4 
870 847 05S 

3280 3208 3138 
3740 3640 3S78 
11200 10900 10900 

EACennot, 3050 

EVN 1*34 

Hughaten Wien 514 

OMV 1720 

OretEtekbu 1010 

VA State 206.90 

VA Tech 1929 


3000 3050 3030 

1*1* 1*31 1*2*20 

507.70 510 509 

1680 1711 1686.90 

1003 1008 1010 

593 sos «are 

1895 1928 1893 

2455 2484 2467 

Wellington ktse^mw 2391x4 

rmtawi 2338J5 

2070 3020 
3910 2840 
2020 2000 
10* 10* 
hot tore 

252 24* 

3S9 39 

15* 1520 
554 537 

4* 435 

16* 1570 

2040 20* 
3m 38* 
MWI 2000 
10* 10* 
ion 1020 

24* 2 53 
3* 3* 

1530 IS* 
543 541 

435 — 

1570 1 


AMU Cons. 
Attain Energy 
Alcan Akan 
Anderson Espl 
Bk Madras! 

Bk How Sofia 

Barit* Goto 

B Sachem Ptunn 


CdnOcdd Pel 
Donahue A 
Du Pont Cda A 
r ronoo H cvpd u 
Gulf Cda Res 
imperial a 

1PL Energy 
Laewen Group 
_ MacmBBtal 
MO Magna MIA 






Briefly tovt 






Carter HoUort 





Retdi Ch Bldg 












Reich Ch Foal 






RekhOi Paper 






Unn Nathan 












WBson Horton 






T5E industrials: 66*29 
Previses: 6667^6 

15 1945 1985 2030 
D5 28ta 28.90 29 JD 
9S 39J5 39X0 39X0 
95 13J0 13X5 1130 
85 *1* *4.10 *4V) 
20 6420 64* 65 

55 m 23.45 23b 

BO 44X5 44* 4405 
lb 37.70 38ta 37.* 
37 364 3*4* 36X5 

70 28.95 19Y> 29* 
S2 49 m 51J0 
85 44*4 45 4470 

* 71.10 TIM 71X5 
X 31X5 33J0 32.70 

31JS 32.15 31.95 
a 40.15 41* 4L15 
25 2455 246S 24J* 

55 2230 2140 2140 
» 10.15 10X0 10*4 
H 241* 25 2« 

Vi 3415 34*5 3420 
10 25X0 2* 15.90 

I* 14X5 15 15)4 

» 322 322 32* 

15 I7XS 18 18*h 

19> 19to 19X5 
Vi 2495 25** ism 

* 1035 lOVi m 

to 82U 831* 82X0 

M 2AU 2*95 27.20 
■’ *1 61 M 62.15 

.. 19 19 19.10 

IS 3185 33X5 34 

» 1530 15V. lsv, 

» 92.70 92X0 93V> 
» 12.10 l?to 1230 



Adecco B 
BoWw Hdg R 
BK Vision 
Ota Spec Chon 


Nestle R 
Novartis R 
Rtohemort A 


Sober F 

SAir Group R 
UBS 8 

Zurich AssurR 

SPIIadau 371732 
PlWiHtS: 371492 

1936 1921 192* 

428J0 0030 421 

1348 1335 1346 
2545 2445 2445 
N.T. N.T. N.T. 
2370 2340 2370 
2*41 2605 2620 

13*2 1315 1362 
159 JO 153 1 58.75 
1191 1180 1183 

216.75 212* 714* 211* 





























L 1 






1 //X 

































































PAGE 16 



Wednesday’s 4 P.M. Close 

The 24CK) most traded stoda of the dojr. 
NofiomWe prices not reflecting late trades etartiert 
His Assodeed Press. 


I *-B-C I 

3W* lift MR JB 1 3 27 Ml 39 38H 39 +* 

79%ul5Vi ABM i) li U 309 nUr 79 29* +* 

MhlK MRMinjMU _ 267 MU SR 20ft +W 
101 V* 55ft taut Ml 1 J> 12 W1HV% 9? 99 -I 

11W 10 ACNUn stia H.1 _ *323 I1M 111% VU% +1% 

A Sal =J93iKiIfcite;& 
,S «*»-*•* 

us u .tin im 

.90 9j0 . *524 101% 

!iss m m wb +i% 
tin im im im% -ft 
*524 10*W 10 10 _ 

*226 14*% 14* 14* . 

149% 1314 AlMMs .90 4J _ *226 14*% 14* 14* . 

a’JtfSSf 4 S£k%.i* 

21% 17% ACLRM 1.08 5J 14 737 194% 199- I9W -W 
19% 1W-AJL 144127 - 505 111% 11% 114% -ft 
24 17% AK Steels JO M 8 TXT 19% 18*1% 19 -1% 

ZHA ZZU AMBPrn _ _ K m 23V. 220% 73 
254% 20 AMFO . _ 1077 24* 24ft MH +!% 

24% 71 AMU Rl 1744 7 A 10 715 214 22 V» 23V. +1% 
129ft 7W AMR . 1J 4203 (6% 125?. 127 -ft 

» * 9ft A PTSa tn . _ 372 IM 13 lift +4% 

H (Shi ARCOOl 230 4.1 40 193 4 <0% 4M% »Va -V, 

hIoO^Uw stock 


4WU2200 BefSHoi 

71 54% Bottom 

171* 12% fcnfr 
28 17 BlgPowi 

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Continued on P&ge 18 


Japan Faces Further Weakness in Yen 

By Stephanie Strom 

New York Times Service 

T tafcfruM A I — mem os 

Handy Way to Make Calls? 

A Nippon Telegraph & Telephone Carp, employee 
testing a prototype wristwatch phone that the company said 
Wednesday it hoped to release commercially within two 
years. The device weighs 45 grams (1.58 ounces). The 
prototype features an ultrasmall antenna, high-density lith- 
ium-ion battery and a new power-saving computer chip. 

TOKYO — Waiting for an elevator at 
the Keidanren, Japan’s influential busi- 
ness association, one can hardly under- 
estimate the importance of the dollar- 
yen exchange rate. A digital display 
monitor han g in g from the ceiling shows 
just how many yen it would take to buy a 
dollar at that moment. 

Lately, it takes a lot more yen. 

Despite complaints from Washington 
about the expanding Japanese trade sur- 
plus in the past few months, Japanese 
exports are getting less expensive. The 
yen is trading this week at its lowest level 
against the dollar since May 1992. 

The dollar dosed in Tokyo on Wed- 
nesday at 128.65 yen. It has risen nearly 
11 percent against the yen this year and 
61 percent against the Japanese currency 
since touching a postwar low of just 
under 80 yen in April 1995. 

Japan’s expects are likely to become 
even cheaper, according to some econ- 
omists and currency traders. According to 
some forecasts, the dollar could reach 1 40 
yea, a level last seen in June 1991. 

The yen’s most recent slide, which 
reflects the continued weakness of the 
Japanese financial system, has not been 
welcome in Washington because a 
buildup of Japanese imports could hurt 
important American mdnstries. The 

weakening yen also disturbed Japan’s 
finance minister, Hiroshi Mitsuzuka. 

”1 have been concerned about the re- 
cent fluctuation of the yen’s exchange 
rate, and its movement today is unac- 
ceptable,” Mr. Mitsuzuka said Tuesday. 

He said Japan and the United States 
were prepared to stem the fall if nec- 
essary, and hours later, currency traders 

Tokyo’s interest rates are 
negligible, the economy is 
weak, and the banking 
system is burdened with 
bad loans. 

seemed to take notice as the yen re- 
covered some ground. 

But the likely outlook for the yen is for 
further erosion against the dollar. In- 
terest rales in Japan are negligible, the 
economy is weak, and the banking sys- 
tem is burdened with bad loans. 

“The yen should be weaker,” said 
Kazuteru Hasegawa, head of foreign- 
exchange trading at the Bank of Amenca 
here. “I think what's happened in this 
region recently is likely to damage the 

The currency weaknesses through 
much of Asia — brought on for differing 

reasons in Thailand, Malaysia and South 
Korea — have put added pressure on 
Japan, which relies heavily on exports 
that compete with goods from some of 
these countries. 

Since the Japanese government raised 
taxes in April, causing already weak 
consumer demand to slow sharply, the 
Japanese have been more dependent 
than ever on exports to pull their econ- 
omy out of its slump. 

“The Japanese economy is, over all, 
stimulated by a weaker yen vis-a-vis the 
dollar,” said Minoru Makihara, pres- 
ident of Mitsubishi Cotp. “In that sense, 
and since a trading company's activities 
are related to the stare of the Japanese 
economy, a weaker yen versus the dollar 
is not bad news." 

■ Economy Shrank in First Half 

Japan's economy shrank, in the first 
half of this fiscal year, Reuters reported, 
quoting official statistics. 

Gross domestic product — the total 
output of goods and services, excluding 
net income from overseas production — 
fell an inflation-adjusted 1.4 percent 
from the previous year in the April- 
September period, the government’s 
Economic Pl anning Agency said 

The agency also said CiDP rose 0.8 
percent in the second quarter of the fiscal 
year from the first quarter. 

Source: Tetekurs 

Imeraarionai HcraJJ TWmnc 

Very briefly: 

Currencies Skid Again, Then IMF Pact Lifts Won 

U.S. Clears Importing 
Of 21 Chinese Herbs 

Ajtencc Franct-Prcsxe 

BEIJING — China has won clearance to export 21 herbal 
medicines to the United Slates, officials said Wednesday, 
raising the possibility of major world markets for plants such 
as milk vetch and bupleurum. 

"The U.S. Food and Drug Administration, one of the 
world's strictest inspectors of foodstuffs and medicines, has 
gramed ‘entry visas' to 21 products,’ 1 said Yan Liang, director 
of science and technology collaboration at the Academy of 
Traditional Chinese Medicine. 

“Medicines approved by the FDA are more likely to be 
accepted by a number of other countries such as Canada, 
Mexico and Egypt,*' be was quoted as saying by the official 
China Daily. The approved herbal medicines include tonics 
and tablets to prevent and treat illnesses such as colds, stomach 
ache and diarrhea. 

* ‘The lack of an international standard, poor packaging and 
vague instructions are major obstacles preventing Chinese 

* herbal medicines entering the world market, ” Mr. Yan said. 
He said i 9 other traditional Chinese medicines were awaiting 
the Food and Drug Administration’s approval. 

China has been working to gain broader scientific ac- 
ceptance of the field and raise its exports of herbal medicines, 
an industry generating more ihan $600 million in sales an- 
nually. But sales of Chinese medicines in the United States 
account for only 5 percent of all herbal medicines sold there. 
” China has long promoted its traditional herbal medicines as 
effective complementary treatments for illnesses tanging from 
minor ailments to deadly diseases such as cancer and acquired 
immune deficiency syndrome. 

Chinese herbalists, for example, have pinned their hopes on 
; licorice for fighting the AIDS epide m ic. 

. "Now we need to conduct a more scientific and objective 

• appraisal of the curaliveeffects on AIDS of traditional Chinese 
.-.medicine.” >aid Guan Chcmgfen, head of immunological 
Research at the Academy of Traditional Chinese Medicine. 

CanpBed by Our SxtfFrvm Dispatcher 

SINGAPORE — Several Asian cur- 
rencies set fresh record lows against the 
dollar Wednesday, but central bank in- 
tervention and an agreement between 
South Korea and the International Mon- 
etary Fund halted the declines of some. 

The dollar hit highs against the South 
Korean won, the Indonesian rupiah, the 
Malaysian ringgit and the Thai baht 

“People really just don't know what’s 
going on in many of these countries right 
now, and until the air clears a little, 

possibly early next year, no one wants to 
be a hero,” a trader at a U.S. investment 
firm in London said. 

Analysts said the $55 billion South 
Korean financial rescue plan was close 
to what had been expected and might 
calm markets in the short term. 

“The market will be reasonably ap- 
peased by this, in terms of size, but the 
focus stiU remains on the details of the 
IMF conditions,” Graham Neiison of 
Banque Paribas in London said. 

touching a record high of 1300 

won in Seoul, the dollar slipped back to 
1,1 96 won from 1,230 won Tuesday. But 
it rose to 41.35 baht from 41.25 baht, to 
3,815 rupiah from 3,735 rupiah and to 
3.6450 ringgit from 33852 ringgit. 

Central bank intervention helped sta- 
bilize the Indian rupee a day after die 
Reserve Bank of India announced steps 
designed to push short-term interest rates 
high er and limit speculation against the 
currency. The dollar fell back to 39.03 
rupees from 3935 rupees Tuesday. 

(Reuters, Bloomberg) 

• China’s economy will grow 9 percent or more in 1997, with 
less than 2 percent inflation, Chen Jinhua, minister of state 
planning, said. But he added: “Overall quality and efficiency 
are not high, the economic structure is not rational, and some 
state-owned enterprises’ vitality is not strong.” 

• Toyota Motor Corp. has received more than 2,000 orders for 
its gasoline-electric hybrid car, more than double its initial 
monthly target, the Jij i press agency reprated, adding that orders 
could tut 3,000 by die time of die car's Dec. 10 introduction. 

• Mazda Motor Corp. said it had developed an electric 
vehicle that operates using fuel cells, which generate elec- 
tricity through a reaction between hydrogen and oxygen. The 
Demio FCEV, with a maximum speed of 90 kilometers (56 
miles) per hour, will need recharging every 170 kilometers 
and will be sold in Japan in 2005. 

• Infosys Technologies Ltd-, an Indian software company, 

plans to raise as much as $75 million by issuing American 
depositary receipts. Bloomberg. Return 

Japan Banks 

Ccmftitd by Oir Su&Fmrn Daparhet 

TOKYO — Sumitomo 
Bank Ltd. and three other 
major hanks had their 
credit ratings lowered 
Wednesday by IBCA 
Ltd., a European ratings 
concern, in the latest sign 
of fading confidence in 
Japan's lenders. 

IBCA downgraded 
long- and short-term debt 
of Sumitomo, Sanwa 
Bank. Ltd., Dai-Ichi 
Kangyo Bank Ltd. and 
Long-Term Credit Bank 
of Japan Ltd Moody’s In- 
vestor Service Inc., mean- 
while, said it was consid- 
ering downgrading debt 
of die regional kudos 
Ashikaga Bank Ltd, 
Hokuriku Bank Ltd ami 
Kiyo Bank Ltd to junk, or 
speculative grade. (AFP, 
Bloomberg, Reuters) 

RAIDER: Corporate Titan Shakes Up trance 

Continued from Page 13 

Defense of Minority Share- 
holders cook him to court over 
the way he had sought to 
merge hts Frintemps chain 
with La Kedoute by offering 
ftedoute stockholders shares 
tii Printemps. 

It contended that Mr. Pin- 
ault stood to acquire roughly 
$1 billion in capital for heav- 
Jily indebted Pnntetnps while 
the value of junior investors" 
shares would be diluted. 

Two yearn earlier, the as- 
sociation cried foul over the 
way Mr. Ptiuuii acquired 
Fnrrtemps in the first place, 
by bidding Ira only 6b percent 
.of its shares 

Though tin 1 minority hokJ- 
cri. lost both court battles, 
they like i»> think they won the 
1 war: French law s were 
tightened to require investors 
.to bid for all of a takeover 
■ target's stock. 

Cotettc Ncusillc, founder 
.and president ot the share- 
Iwlders association, acknowl- 
edged W words dripping with 
. irony that Mi Ptnault. by 
stiffing out loopholes, nau 
littered chances in legisla- 
tion. "I always say. she 
»«L "that the nunoniy 
shaitlwWcr* shmiUI raise a 
sterue u> Pinaulr 

‘ Yet she acknow ledges tnai 

Air, Pinauit has not acted out- 

Stock-market analysts, in 

any event, lose Mr Pnkiuh s 
magic. With the French evon- 
■wny coming back and retail 
»fes lift the tv* again, nis 
states will benefit sCV ~ 
:«al veils o! Iraisy 

fflem hi conmmerrzalion and 

: unproved UnTMies, 
-Michelle an analyst Jt 
ITI$ Seewmcs in Par?*, 
nsrcrnnwndaiuw !or 

"All He main Mitatalw'*** 
-we imwoving ihctf nt.v- 
sbe aid. 

(— Even hi. the minority 
^uurhddw* group i* again 
pumas* « m»l ih« !«*!> ltfl 


1^»M yfctf, a furniture i om 
ran> railed Dapht-Malho 
Jtfcd . declared bankruptcy - 
fcwing Wmniti&Z million 

of bonds it issued three years 
earlier with worthless paper. 
French authorities found 


niture companies — from Mr. 
Pinault. through Printemps. 

This time.' the association 
is not suing Mr. Pinault but 
KPMG, the French unit of the 
international accounting firm 
KPMG Peat Marwick, which 
audited the numbers used in 
the bond prospectus. 

The largest of the three 
companies acquired from Mr. 
Pinault had a 519 million gap 
on its balance sheer and, after 
the purchase, was found in a 
government report and a 
court ruling to have regularly 
overstated the value of its in- 

The suir contends that 
when Daptn issued its bonds, 
the discrepancy was already 
known to management and 
that KPMG failed in its duties 
by not preventing figures 
based on the false inventory 
amounts from being used m 

the prospectus. 

Danta say's it was a victim 
in all this, and KPMG dentes 
wrongdoing. . 

Eventually, the Pnntemps 
croup compensated Dapta for 
UwS19 million gap- 

The case is bogged downm 

a provincial court, and me 
shareholder assocynw ac- 
i-use* Mr. Pinault of bnngmg 
his political power to bear. 

‘ ‘Pinault is a friend of tbepres- 
ident,” Mrs. NeuviDe sattL 

Mr. Pinault’s investment in- 
terest is tinning increasingly 
abroad. Since 1990, the over- 
seas share of Artemis’s rev- 
enue has grown to about 40 
percent from virtually nothing, 
largely as a result of acqui- 
sitions in the United States. 

In 1991, Credit Lyonnais 
was a partner with the Apollo 
investment fund of Leon 
Black, the aggressive former 
deal-maker at Drexel 
Bur nham Lambert, in acquir- 
ing for almost $3 billion the 
junk-bond portfolio of the 
failed Executive Life Insur- 
ance Co. of California. But 
when Credit Lyonnais learned 
that American law did not per- 
mit banks to own operating 
companies acquired in a fore- 
closure, it sought a buyer. 

Enter Mr. Pinault. After 
borrowing money from Cred- 
it Lyonnais, Mr. Pinault took 
a long shot, paying $1.9 bil- 
lion for a package of the 
bonds that was subsequently 
exchanged fra equity, includ- 
ing large chunks of almost 
two dozen American compa- 
nies, from Converse and Flor- 
sheim shoes to Samsonite and 
the ski resort at Vail 

When stock prices took off, 
Mr. Pinault hit the jackpot. 
According to a recent report 
by Goldman, Sachs & Co., his 
U.S. investments have yiel- 
ded an average annual return 
since 1991 of 40 percent 

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r-iinisuii riL'.Lom 

PAGE 20 


j-or ;hoi\ i [ih'iuu-itiou '> imi us mi 

hi ip; 7\s S'. W .lft unh"tu ,.:.,n!!! 


World Roundup 

A V 

A bowled Curtley Ambrose, 
ending the West Indies inning. 

West Indies Collapse 

CRICKET Pakistan dismissed the 
West Indies for 139 runs Wednes- 
day on the fifth and final day to win 
the second test in Rwalpindi by an 
innings and 29 runs. West Indies 
began the day on 99 for six wickets. 
It trails, 2 - 0 , in the three-test series. 

• In Bombay. Rahul Dravid hit 
93 as India made 247 for three 
wickets on the opening day of the 
third and final test against Sri 
Lanka on Wednesday. {Reuters \ 

Red Card for Referee 

soccer Sandor Puhi, who ref- 
ereed die 1 994 World Cup final, was 
dropped for the rest of the season 
Wednesday by UEFA, European 
soccer's governing body, because 
he “failed to inflict the appropriate 
sanction after Paul Bosvelt fouled 
Denis Irwin." a Manchester United 
defender in a Champions' League 
game in Rotterdam. (Reuters) 

• The U.S. soccer federation on 
Tuesday extended coach Steve 
Sampson's contract through the 
1998 World Cup. (NYT) 

Revenge for Jayhawks 

basketball Kansas withstood 
a late charge by Arizona to beat the 
NCAA champion Wildcats, 90-87, 
in the Great Eight Basketball Clas- 
sic in Chicago. 

The Jayhawks' victory avenged 
i the 

a loss to the Wildcats in the final of 
The " Southeast “ Regional in last' 
spring’s NCAA tournament (AP) 

Devil Rays Sign Alvarez 

baseball Wilson Alvarez be- 
came the second big-name pitcher 
to sign with the Tampa Bay Devil 
Rays, agreeing Wednesday to a $35 
million, five-year contract Alvarez 
was 13- 11 with a 3.48 ERA with die 
Chicago White Sox and San Fran- 
cisco Giants last season. 

• Steve Hamilton, a 6-fbot-7 re- 
liever who pitched in two World 
Series for the New York Yankees in 
the 1960s. died of cancer Tuesday 
night He was 63. (AP) 

Diplomatic Letters 

Olympics Organizers of the 
Winter Olympics have sidestepped 
a political problem by deciding to 
use English alphabetical order at 
the opening ceremonies. This will 
keep the Chinese and Taiwanese 
delegations opart in the ceremony. 

• The first significant snow of 
the winter fell in Nagano on Wed- 
nesday; it was shown live on Jap- 
anese television. (Reuters) 

Tennis ’s Boy Wonder: A Marketing Machine at 13 



By Robin Finn 

New York Times Service 


RADENTON, Florida — The 
name of the tennis-playing 
product is Todd Reid and, ac- 
cording to the ominous publicity pack- 
age cooked up for him by an assortment 
of Australian advertising visionaries, 
his hair, future and credit card are the 
same convenient color gold. 

That is why Todd alone, out of some 
173 youngsters pelting tennis balls at 
each other during a recent Florida tour- 
nament, wore an Adidas tennis shirt 
tattooed with Qantas and Kentucky 
Fried Chicken logos. It's in his contract, 
you see. 

Most 13- year-old boy wonders whose 
best attribute is a slingshot forehand do 
not have agents, especially not agents 
who also claim to be their legal guard- 
ians. But no 13 -year-old male tennis 
prospect has ever pocketed this much 
money or generated this much hype. 

Jennifer Capriati had a $5 million 
endorsement portfolio ax 14, but Capri- 
ati was already competing with top 
players on the main circuit. And she was 
bitter and disillusioned by the time she 
was 17. 

“I don't really know how good I am, 
but it's nice to get ail the free stuff, so I’ll 
take it,'' said Todd, art inquisitive sev- 
enth-grader. "Having a manager who 
gets me sponsors is a bonus. 1 don't 
worry about what it all means when I'm 
on the court playing, but maybe at night 
when I go to sleep, I think about it." 

Todd sleeps on a bunk bed in a sock- 
strewn room shared with two other ten- 
nis acolytes. Like them, has trouble 
making his bed. doing his laundry and 
protecting his homework from the oc- 
casional act of boarding school thiev- 

’ Todd confines his misdemeanors to 
jumping out of the window after curfew 
and raiding the soda machine on behalf 
of himself and his roommates, one of 
whom is the son of the Bee Gees mu- 
sician Barry Gibb, the other a nephew of 
International Management Group’s 
chief, Mark McCormack. 

“If I get caught. I’ll tell them I was 

chologist who failed to discern, on 

had he secured the scholarship, valued 
at 5100,000, than Colbert persuaded 
Qantas to provide Todd and his en- 
tourage with wings to rftake the trip to 

“I thinir that a Todd Reid comes 
along about once every 15 years,’’ said 
Colbert, who sold his home in Australia 
and moved with his wife to Bradenton. 
Florida, to monitor Todd’s develop- 
ment. “It’s not that he has to be a 
mark eting product before his time, but 
the way I look at it, you can either 

basis of Todd's runner-up status m Aus- 

' r- 12 si 

I V- 

control the phenomenon or else you let 
: else 1 

evezyone else have his pickings ax it all 
along the way. I think this is healthy for 
Todd. His family wants him here and I 
know this kid is going to change ten- 

Andre Agassi was turning beads at 

*1 ? La IiAA AMIA* 1 /lllltR 

t ra Tin 's national under- 12 s competition 
last year,- any justification for his emejj- /' 
gence this year as a much -marketed . 
import to the Bollettieii academy, said: ’: *.• - 
“This has all the earmarks of becoming jf, .■ 
a catastrophe; it’s way too early code? •’ * 
ride if a iS-year-oldboy is aphenom or" '•*.". 
a superstar. And from the outside, jt 
sounds like the parents are leaving then* 
son to the wolves. ' ' ' ' 

“It would be one thing if he’d been ; 
runner-up in the 1 8 s at 1 Z, but right now,' . 
at age, the primary concern should 
be making sure he’s mentally, phys 
ically and emotionally healthy. 

r income. 


lly an 

be a source of 

B UT HE is just that, and not onIk\V .. 7 
to himself. Bob and Sandra Rei<J,7 ■ ■ 

Bollettieri’s at 13, but he has never quite 

r him 

_ _ , v . ** ^ ^ J ^ r ' ' • ' , 

’;7 4 ,: 7 jy&p 

.• ,7V xuu * T »»*vhTV»7»±>: 

forgiven his father for shipping 
.there. And even Nick Bollettieri, toe 
academy's guru, has said that the urgent 
business agenda and toe push for extra 
coaching that Colbert advocates for 
Todd “is toe most unusual case for a 
boy I've seen in all my 45 years in 
coaching, and that includes Agassi." 

Bollettieri said: “He’s got toe schol- 
arship, which he deserves, because he 
looks like if he’s given time and space, 
he's going to be good. But he’s only 13; 
we’re not treating him like a superstar, 
and I’m notlooking at him to make Nick 
Bollettieri a million bucks. I’d call it an 
area of grave concern that so much hype 

to himself. Bob and Sandra Rei ^ _ 
who enjoyed modest success oh^l 
the squash and tennis circuits, respetj- -7 
tively, back in their own salad days. 7 . 
enlisted Colbert, who previously man-' “7 
aged professional surfers, to shepheifC^. 
the most promising of their three tennis- jj 

1 - .» 




liar* Rnihwi-ia'TIt- V» taLTiaui 

Todd Reid working on his backhand at the Bollettieri Sports Academy. 

is being put on something alm ost un- 
known. I thin 

sleepwalking," said Todd, whose sleep 
since he came to Florida in September 
from his home in Coogee, New South 
Wales, has not always been very sound. 
“One night they found me in toe middle 
of the cafeteria with my blanket, and I 
couldn’t remember how I got there. But 
I'mgetting more used to it here now. It’s 
like you're a robot; you get up and play 
tennis. I guess it's important, though." 

Todd bolds zero national singles titles 
but already boasts five corporate spon- 

sors and a three-year tennis scholarship 
to toe Bollettieri Sports Academy. 
Strangest of all, because he left his par- 
ents behind when he jumped hemi- 
spheres to serve his junior apprentice- 
ship, Todd has a hyperactive agent as his 

Pete Colbert, a family friend, could 
not be more proud that. Largely on the 
say-so of a cute photograph and one 
high-visibility workout on toe practice 
courts at the Australian Open, he ne- 

: think you’d have to be a freak 
of nature to come through and live up to 
all this billing. And who knows, maybe 
he is and maybe he will. But toe reason 
we’re not giving him more coaching is 
because he doesn't need five, six. seven 
hours. It’s too early." 

Colbert insists Todd's case is special 
and every precaution has been taken to 
maintain integrity and maximize po- 
tential. “You can't compare Todd’s 
parents to toe Capriatis or anybody; and 
his sponsors have not demanded one 
thing from him," be said. 

play ing children into toe big time. CoU » 
belt's acquisition of Qantas. KFC; 7 ]‘ 
Head, and Adidas as sponsors enabled 
the famil y to send Todd to Bollettieri'^ ~- 
equipped not only with equipment, but : . 
also with a chaperone and manager. 1 
Bob Reid accompanied his son t£> ; "- ; 
Bollettieri’s and spent a week helping -V 
him adjust to the move. “What I saw : 
there at toe academy was like heaven for •; 
Todd,” Bob Reid said, “and I wouldn} 
have left him there if I didn't think 1 $ 
wanted to be there. Whatever happens, 
he can look back and know he was give? 
the best chance* to succeed.” , 

Bob Reid said he had no quarrel with 
Colbert’s continuing mission to procure 
more funds for his son. “I think there's 
a difference between exploiting 
someone and trying to build them * 
comfortable future," Bob Reid said, i 
“As a family, I don’t think we’ve put 4 
foot wrong; we're not just dreamers of 
fame and wealth." 

Colbert said that, ultimately, junior 
titles do not mean anything. “We’re 
looking at No. I in toe worla," he said. 

if ; 1 


^■[liatnl Hi 

(Jackpot ii 

Aii Awkward Family Reunion in Marseilles 


International Herald Tribune 

ARIS — Soccer's dysfunctional family hav 
gathered in the south of France to kick off toe 

. _ and. France, playing at home. I saw Yugoslavia 

.Jrorld 'So’cc'eir 7 Will Be RttN ' ' “recently 7 Ifplayed v’eiy'Wefl, but in right months H 

World Cup year a little early with toe draw 
for next summer’s fust-round groups. Four years 
ago, this extravaganza was in Las Vegas, this time 
it’s in Marseilles. Does FIFA, the governing body 
of world soccer, have a special affinity for cities 
with a reputation as mob towns? 

The draw has indeed become like an overblown 
Vegas magic act: a simple trick surrounded by 
hours of hoopla. 

First, there will be an all-star soccer match 
between Europe and The Rest of the World. Then, 
Sepp Blatter. FIFA’s general secretary, will con- 
duct toe draw helped by an array of soccer per- 
sonalities, international pop stars and toe tradi- 
tional beautiful assistants. All this so that 32 teams 
can be arranged in four groups of eight. 

During toe exhibition match, much of the at- 
tention will be not on toe field but on toe actions of 
soccer's capo, Joao Havelange, the president of 
FIFA. Will the Godfather embrace Pele? 
Havelange refused to allow soccer’s greatest 

tied President Fernando Henrique Cardoso of 
Brazil to Buckingham Palace on a state visit, and 
was knighted by the Queen. On Tuesday, as a 
spokesman for Mastercard, he was meeting jour- 
nalists in a luxury hotel in Paris. 

Pele said be planned to watch Thursday’s match 
and then leave before the draw. But if Havelange 
embraces him, might he not stay? 

“I would prefer not to stay four hours for the 
draw," he answered diplomatically. 

could have' injuries mid the team could change. 

Spain is a very competitive team. South Africa is a 
good team too, very tough.” 

He Is also impressed by the potential of Ar- 
gentina’s young team, buthe seems to be forgetting 
one team. What about Brazil, the defender? 

“Brazil has big problems in defense," he 
sighed. “We played three or four games last month 
against not-very-strong teams and let in a lot of 
goals. The team is not veiy good yet" 

Mastercard is a title sponsor of the World Cup, 

which it calls toe "largest sporting event in 
world." (Visa, needless to say. sponsors toe 
Olympics). The company had lined up a string of 
interviews with financial publications to give Pele 
the chance talk about the value of the relationship. 
Perhaps this was as much to convince Mastercard. 

The benefits of sponsorship are notoriously dif- 
ficult to quantify. However, if Mastercard’s mar- 
keting muscle combined with the considerable 


charm of the most famous athlete in toe world (only 
player to take part in toe draw in Las Vegas because Muhammad Ali, not Michael Jordan, comes close) 
Pele had accused Ricardo Teixeira, toe president of does not produce positive results, then the whole 

: i ^ ■ i-i.* __ 

toe Brazilian federation and Havelange's son-in- 
law, of corruption. Now Pele, who is Brazil’s 
minister of sport, is Dying to sort out the chaotic 
state of that country's soccer leagues. Havelange, 
who resents government's interfering in his sport, 

Pele is in Europe wearing both his official hats. 
On Wednesday, as Sports Minister, be accom- 

sports sponsorship industry might as well pack up 
and home. 

Clearly, toe key question for Pele on the eve of 
toe draw is not "which is toe best credit card in the 

world?” but “which is toe best soccer team in the 
World Cup?" 

"This is not an easy World Cup," he said. 
“There are many good teams: England, Germany 

I ele has an advantage over toe average fan. He 
can call up toe coach, Mario Zagallo, who is 
struggling to balance toedemand of Nike, toe 
Brazil team’s sponsor, for lots of exhibition games, 
with those of toe players' primary employers, the 
clubs, who want to keep their stars for their 

"I spoke with Zagallo," said Pele. “He says: 
‘Pele, because of the contracts with Nike and toe 
national federations, I have to change the team for 
every game.’ It's time to settle on one team," 

Yet, in another seme, Pele is optimistic. Brazil 
will attack more than in the United States in 1994. 

"Zagallo is a much more offensive coach than 
Carlos Paireira,” who guided toe Brazilian team 
last time,' Pele said. 

Has toe game become tougher for creative play- 
ers like him? 

“Now the talented players have more protection 
with toe yellow card and red cards," said Pele. 
“But toe philosophy has changed: not to lose 






7- >* 


i 7 

«■ i* 


\irwr Imii, 

Joao Havelange, left, and Sepp Blatter. 

rather than to win. Coaches use more defensive 

systems and that makes toe game more physical.) 
Players don’t have toe time to think.” 

Who does he see as the stars of the World Cupr 
He mentions Raul, toe young Real Madnfl 
striker, then, after a pause, adds Ronaldo, Brazil’s 
young striker, if he can stay fit Then, after another 
pause, he tries to think of an Englishman to pleasj: 
the interviewer. He comes up with Steve Mao- 
Manaman and that's it. But then would-be World 
Cup stars have to measure up to the very hig^ i- 
standard set by Pele himself. ‘ f> 

Havelange's fingers still clasp soccer power, bi4 
Pele holds toe hearts of toe game’s fans. 1 

: . « 


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A.-Sffllth 13-20 1-1 28, Loettner W 3-3 IS 
CfcFWey 7-ie M 1& Sort S-17 4-4 IS 
Rebounds — Attonfa 68 (Blaylock 10). Dados 

NBA Standings 















New Jersey 





New York 































































San Antonia 











2 sa 


LA. Lofctrs 




Sac ra memo 


Golden State 










3 V. 



W L 

9 5 

10 6 

10 7 

7 a 

7 11 

4 12 

1 13 
mcnc orviwoti 

13 a 

10 3 

13 4 

10 6 

5 12 

2 14 

1 13 

Sacramento 28 22 IB 34-102 

Charlotte 21 29 34 3S-121 

SJUdimand 8-16 8-102S, Fimdartwil* 7-10 
3-4 17; C: Aloe 12-18 3-3 30. Curry 8-10 1-1 
11 Rebounds— G ocmm e ntD 44 (Owens llj, 
Charlotte 43 (Dhroc B). 

Assists — Sacramortio 29 {RfchnwtxJ 9L 

Chariatta 41 (Wesley 9). 

Scow* 23 2S 18 15-78 

Washington 2» 22 23 21- 93 

SiBaker 10-13 2-S 22. Sctwempf 7-133-3 17; 
Wi'Hoanni 8-17 2-4 1& Murray 6-13 2-2 IX 
Rebouwtk— Senflte 44 (Sctuwnot, Pectins. 
Hawkins A. Washinoton 51 (Webber, 
Howard, Oavte IQ). Assists— Seam* 22 
(Sehrempf 10]. Wahlnetoa 23 (Strfddand 

Phsonft 17 29 24 20- 90 

MAwaabM 29 24 12 20- S4 

PdWeClaud 6-1 2 3-414 Kidd 4-15 MH'M; 
BRHKNm Ml 4-52Z OJMtidSon M9 04 17. 
Rebouato-Phoof* 53 (McOyees 10), 
AABwaukee 37 (HIH IQ. Asshts-Ptiomlx 14 
(Ndd 6), MBwaukee 20 (GJTofalneon 6). 
Atlanta 31 34 17 30-112 

Mias 24 23 17 13— 79 

50 (WbJker 15). Assists— AMania 24 (Corbin 
5). DaRas 16 (Finlay 6). 

Denver 31 17 25 28-101 

Houston 33 34 19 16-1U 

D; Newman 12-19 7-7 32, Fortson 9-13 4-5 
22; HAhader 8-136-7 22, BuDard 7-1404)20. 
Rebounds— Denver 51 (Garrett Fortson II), 
Houston 36 (Borktey n). Aeeiets— Denw3l 
(EBis. Jockjan 7], Houston 24 (Borktey 12). 
New York 21 25 23 IS — 84 

Son Antonio 2S 18 20 27— 90 

N.YjE wing T1-24 362S Houston 8-16 64 
22; SA^ Dunam 9-1 S 5-8 23, Robinson 6-18 
11-20 21 Rebounds— New York S3 (Ewing 
15), San Antonio 62 (Robinson 14). 
Asststs-New York 18 (Storks 14). Son 
Antonio 22 (AJohnson 11). 

Otfendo 21 24 22 22- 89 

Portland 17 2S 2S 21— 88 

OJHardaway 13-27 M 29, SeBurty 4-15 66 
14; P: Rider 12-204-633, WBflans6-ll 2-4 14. 
Rebounds— Ortnndn 49 (Sdkaty 10), 

Portland 45 (Satrarfe 10). Assists— Ortondo 
20 (Armstrong 6), Pwttand 20 (WHItams 9). 


NHL Standings 

New Jersey 
N.Y. Rangers 
Tampa Bay 


W L T. Pts CP 

15 8 
17 9 
14 10 
11 12 
8 12 
8 14 
4 17 

PUts burgh 







W L T Pis OF 








Otlawa 1 2 

N.Y. Istanden 0 2 0—2 

Rrst Ported: O-Kravehuk s. Second 

Poriorfc.0- Yashin 11 (McEachem) 1 New 
York, Chorsks 4 CSrrwIfnsW) (sh). 4 O- 
AHradesonV roa*gte. Von AJten) (pp) . s. Nw* 
York, BertuzzJ 3 (Smadnski} Third Period: O- 
GanHnor 2 (Cumwvwarth. Redded) ten). 
StatsoagoofaO-11^9— 26. New York 2 - 11 - 
3—16. GoeUes: O-Rhodee. New York, 

FJchautL Soto. 

Washington 110 1—3 

N.Y. Rangers 0 2 0 0-2 

Rrst Period: W-Simon 6 (Oates, Housley) 
tool- Second Period: New York. Kovalev 7 
(Keane. Stevens) top). 3, W- Johansson 9 
(Houstey, Oates) (pp).< Now York. Gretzky 9 
(Stevens, Sundshom) Third Parted: None. 
Overtime: & W-Jnneou 3 (KonawalcfiukJ 
Shote on goal: W- 10-9-5-4—28. New York 6- 
B- 1 1-0- 25. Goodes: W-KoUg. New York. 

R. Loots 0 l 2—3 

Now Jersey a l 0-1 

Fbst Ported: None. Second Petted: Si ■ 
Pronger 3 (Petterin, Conray) 1 NJ.-EBns 9 
(Ho». Ntedenwyeri TbW Period: SX.- 
AJctwynum 4 (Conray, Prongeri 4. 5J_-HuQ 
14 (Modnnts Conray) Shots on goob S.L- 
10-6-11—27. NJ.- 5-9-14— 28. Gooltet: S.L.- 
Fuhr. N J^QnideirT. 

Aoatiijlai 6 12 8-3 

Tonrito S 2 I •— 3 

Fhst Period: None. Second Period: T- 
SuBhran 3 (pjong, Berezin] l T-Koralev 9 
CundiA) (sh). 1 A-Sandstrom 5 (Mironov, 
□atgneauit} TMrd Posted: T -Smith 2 
Bundln) a, As Socco 3 (MliMto 
polgneaun 6. A-Satet 4 (CuBen) owribae: 

None. Shots on goak A- 1 3-1 1-12-1-37. T- 9- 

6-11-1-27. Goaflos: A4lebort. T-Hea^ 

Spanish Cup 


Las Pdmas 3. MaHorca 2 



Seattle — A greed terms with INF Aarap 
Halbert on 1 -year contract. 


COLORADO— Agreed Kims with 3B Vmrtr 
Ccsfflta on 4- year contract 

IS 9 
15 10 
11 12 
11 13 
11 13 
7 12 

wtsmui comuncz 










Edmonton i g i j 

Coten * ta 0 2 2—4 

First Potted: E-Smyth 10 (Weight. Amah) 
Searad Parted: C-Fmsbwj 8 (Knipg, Kwri) 
W* 1 CSokic IS (Kamensky, Ozuilnsh) 
tow. TWnl Petted: E-Kovaienkd 2 (Smyth, 
We taM topi. & C-Forebag 9 (Lemteux 
Jtomendty) & C4jemteux 10 (Gusarov, 
Ktemm) Shots an Boat: E- 7-6-7—20. C- 10- 
16-16—42. Goalies: E- Joseph. C-Roy. 



St. Louie 





Las Angeles 




San Jos* 












































pacific uv retort 































8 14 



















India 247-3 

Mnwud v*. WMT MMU 

**CO#tP TB*T, ATM DAY • 

Westindkn 303 and 139 


CLEVELAND— Waived G Greg Graham. ■ 

OOLBEN state— S uspended G Label 
SpmreH for at toast 10 gams tor attack on 
coach P.j. carteehno during practice on 



Atlanta— S inned TE Brian Sextan Put 
TE Ed West on Infured maene. Signed PK 
Scott Benltey to practice squad. , 

Ct NON N ati— S igned K Mark Gagdano ty 
the practice squad. Put LB Tom Tumulty and 
DL Ramondo Stallings on inlored reserve 
Activated S Trento in Mock from nan-fooBmP 
Btaaw rasorve Hit. Signed RB Ty Douttwd 
tram practice squad. 

Miami— S igned RB Lawrence PNlHps. Puf 
S Bncey Waftar on intuiad reserve. 

NEW Orleans— C lafeRed WR AMn Harper 
off Waivers (ran Washington Redskins. Re- 
leased TE Tony Johnson. 

nr. wants— S igned DE Antonio Edwards. 
PutC Brian WBOoms on injured rwervo- . 

N.Y.JBTS— Signed T Deron Thorpe off N.Y. 
Giants practice squad. Pvt T Jumbo ElUotlorr 
injured reserve, 

Philadelphia— S igned KR Mel Graftal- 
year canhact and DE-LB Al Wallace to 2- 
veor contract. Waived OL Harry Bofltowa» 
and LB OeShawn Fogte. 

SAN DIGBO— Signed TE Bryan JertnkKp. 
Puts Greg Jackson an tejunrd reserve. 

*** PBANCisCO-AnnmfflCfd rraJgnationaf 
Edward DeBartolo Jr. cturlrmon and chief 
■wsttve officer. 

WAIN MOTOK-Rriaased WR AMn Harper. 



NHL-Suspended Ftorida F Kbk Muiterter. 
owaddittoiM! game and fined Wra siiW 
a WflMtlcWng Inddent on Nov. 30 ogotat 




New Zealand 3G England 19 

coast ouARD-Anoatmced iwlgnsttMJf 
Chuck MOa foattwS coach, who wB rtw 
hto duties ae athletic director. 

WU-Annaunced men* lunlarb nkelbtf 
C Jekmi McCoy no* been parllafly rahaWW 
to team. 

^ I>»i , 

L lto.r. , »H 




1 ~ - 

* |l9ers’ Chairman Out 

1 f '' As Indictment Looms 

ls (i-r 



PAGE 21 

: nt-V, 1-* * 

to ( tar » W DujwifV> 

field performance ai all/* said Bill 


• - - * - 




A w,s 


■jW r ■ 

fiwth'iU tpnm in ■ an , *^ ers DeBartolo's role in recent years with 

11 " as disclosed that the 49ers has been confined tohoisting 
Ji^m^S.-^i“ U>Ul 5 ,a ? araaybe the Lombardi Trophy over his head aft^ 
the stag's Super Bowl viaories. Policy has rep- 
former governor, Edwin Edwards, after resented DeBartolo at the NFL’s annuS 
a long investigation of nyerboat casino meetings, and Policy’s influence in the 
losing and other business arrange- leaguers sux^ ITof 

_ Louisiana newspapers reported DeBartolo's impact on the 49era has 
I U ^L^^™ ] °c.%f rds :i he spraDg from his willingness to spend *e 

close to indicting him and the state's 
former governor, Edwin Edwards, after 
a'long investigation of riverfjoat casino 
licensing and other business arrange- 

: Two Louisiana newspapers reported 
t Tuesday that DeBartolo. Edwards, the 
f former governor’s son, Stephen, and at 
least three other men had received let- 
ters from the U.S. attorney’s office in 
New Orleans telling them that they are 
targets of the investigation. 

the letters invited the men to appear 
before the grand jury if they wished to 
offer evidence that might clear them. 
Typically, such letters are sent shortly 
before an indictment is sought. 

* DeBartolo was a partner with a casino 
company that won the state’s 15th and 
final gaming license last March. Ed- 
wards is a longtime friend of the De- 
Bartolo family, which has significant 
holdings in Louisiana. And both Ed- 
wardses have performed either legal or 
consulting work for a variety of casino 
companies in Louisiana since the 
former governor left office. 

DeBartolo withdrew from the casino 
project after the Loui siana State Gam- 
ing Control Board demanded that he 
turn over all documents that he pre- 
viously provided to the grand jury. 

When he pulled out in June, De- 
Bartolo cited National Football League 
concerns about gambling. 

DeBartolo’s sister, Denise DeBartolo 
York, will assume control of the Edward 
DeBartolo Corp., which owns about 85 
percent of the 49ers, and the team pres- 
ident, Carmen Policy, is expected to 
receive an estimated 5 percent own- 
ership interest for continuing to run the 
team’s day-to-day activities. 

"This "won't affect the team’s on- 

money to acquire and keep some of the 
game's top performers. The team has 
won five Super Bowls, posted winning 
records for 15 successive seasons and 
has claimed 13 National Football Con- 
ference West Division tides, including 
this year’s. 

Paul Tagliabue, the NFL commis- 
sioner, said rhar he hod informed the 
49ers of his approval of the steps taken 
Tuesday. He expressed his "complete 
confidence” in the team’s manage- 
ment. (NYT, LAT) 

■ Rice Is Due Back Early 

Jerry Rice, the star 49er wide receiver 
who has been out since he tore knee 
ligaments in the season opener, was due 
to return to practice Wednesday and 
hopes to play Dec. 15 against the Den- 
ver Broncos, The Washington Post re- 

But the 49er coach, Steve Mariucci, 
said that Rice had not been cleared to 
play- and that it would be a "minor 
miracle” if he suited up that Monday 
night. It is tire night the team will retire 
Joe Montana’s number in a halftime 
ceremony, and Rice has said that he 
hopes to be in uniform to honor his 
longtime quarterback. 

Rice, usually considered one of the 
hardest-working men in the game, has 
approached his rehabilitation the same 
way. He has also lost about 12 pounds 
(5.5 kilograms), dropping to 185. 

Jarir XihriuOu/Ap'iH** Frilirv-lViw 

The opening night of the new MCI Center, with the host Washington Wizards playing the Seattle SuperSonics. 

Sonics Are MCI Center’s First Victims 

Designated Hitters Hit 
The Jackpot in Salary 

By Murray Chass 

AVir Tunrx Service 

The owners of major league baseball 
teams have proposed dumping tire des- 
ignated hitter; the players have said for- 
ger about that plan. The best reason for 
each-stdc's argument has just emerged; 
The average salary for designated hitters 
in 1997, as determined by the players 
association, was 53,583,788. highest for 
tfny position in the American League. 

; The union's annual salary report, 

S esented to its executive board in 
awaii on Tuesday, showed that the 
pnlv higher position average in the ma- 
jor leagues is the $3,717,579 for first 

, _ The DH average, computed for seven 
vplayers who served as designated hitter 
ip So or more games, is the highest ever 
for thar position. $125,000 and change 
beyond the previous high of $3,458,573 
in 1W5. 

The owners proposed three months 
ago that the designated hitter, a position 
that was established in 1973, be phased 
out and that the clubs add a 26ih player 
to their rosters in its place. But the union 

sees tire proposal as a payroll-cutting 
move. The 26th player would most 
likely be a player being paid the min- 
imum salary. 

The seven players who were the des- 
ignated hitter in 80 or more games were 
mainly high-priced veterans, led by 
Cecil Fielder and his $9,237,500 in- 

Relief pitchers, as a group, continued 
to be tire lowest paid, averaging 
$717,901, but that salary was up from 
$537,646 the year before. Only 
shortstops had a reduction in average 
salary and that was slight, to $1,735,298 
from $1,745,613. 

The average for second basemen, on 
the other hand, enjoyed a 45 percent 
increase, to $2/380,949 from 

The average salary for the 826 play- 
ers who were on major league rosters or 
disabled lists on Aug. 31 was a record 
Si 336.609, a 1 9.3 percent increase over 
the 1996 average of $1,1 19,981. 

The percentage increase is the largest 
since the average rose 20.8 percent in 
1992, which was the first time the av- 
erage had reached seven figures. 

By Ric Bucher 

Washington Past Service 

WASHINGTON — The Washington 
Wizards christened their new home with 
their best victory of the season, a 95-78 
triumph over the Seattle SuperSonics in 
front of an appreciative sellout crowd. 
Neither team had set foot inside MCI 
Center before Tuesday, but the Wizards 
wasted no time in making it theirs. * 

The Wizards, who were 0-5 this sea- 
son at US Airways Arena, improved to 

NBA Roundup 

6-11. the victory enhanced by the fact 
that the Sonics are far and away the best 
of the six teams they have defeated. 

All five starters contributed double- 
figure scoring, and the sixth man, Tracy 
Murray, matched Juwan Howard for top 
honors with 18 points. The front line of 
Howard, Chris Webber and Terry Davis 
had 10 rebounds apiece, helping give 
the Wizards a 46-35 advantage. 

The Sonics came into the game with a 
seven-game winning streak but never 
threatened in the second half, despite 22 
points on 10-of-13 shooting by center 
Vin Baker. They were done in by 21 
turnovers, most of them forced by the 
Wizards' trapping defense. 

Whether it was tire larger capacity but 
more intimate confines of the new arena 
or a more responsive crowd, the-energy- 
from the stands was better than anything 
the Wizards experienced in their five 
games this season at US Airways Arena. 
When the Wizards opened their fust 
double-digit lead with a 12-2 burst at the 
start of the second quarter and the Son- 
ics called a timeout, several sections of 
the crowd gave the Wizards a standing 
ovation as they went to the bench. 

"It was a positive atmosphere and 
that’s what we need,” Murray said. “It 
just felt like there was a lot of energy.” 

In other games. The Associated Press 

Spur* so, Knickm 84 In San Antonio, 
New York blew a fourth-quarter lead for 
the sixth time this season. 

“1 hate to use the word panic on a 
veteran team like this one. but we kind 
of panicked tonight,” Chris Childs said 
after the Knicks shot 6-for-26 in the 

Wizards Get a New Stadium, 
And This One Is in Washington 

By William C. Rhoden 

New York Tana Service 

WASHINGTON — This was 
Washington at its best Abe Pollin, 
owner of the Washington Wizards, in 
his finest moment, standing before a 
city more passionate and excited about 
basketball than it has been in years. 

If there ever was an energizing 
night, a time to rally, this was it With 
President Bill Clinton and Mayor 
Marion Barry on hand, as well as NBA 
commissioner David Stem and just 
plain fans, Pollin opened the 5200 mil- 
lion MCI Center on Tuesday nighL 

Pollin, a day shy of his 74th birth- 
day, shouted: "Wow! Wow! Wow!” 
to the sell-out crowd of 20,674. 

"This is a day I will never, ever 
forget,” he said. 

This would be a way to bring heart 
and soul to a transient city in desperate 
need of some common thread. The old 
Capital Center, turned into US Airways 
Arena, was too for away, in Landovcr, 

fourth quarter and were outscored 27- 
15. David Robinson and Tim Duncan 
scored 23 points apiece, and Vinny Del 
Negro added a season-high 16 points for 
the Spurs, who won despite shooting 25- 
of-45 at the free-throw line. 

Hawk* 112, Mavericks 79 In Dallas, 
the Hawks had their largest margin of 
victory, set a season-high for points and 
enjoyed a rare blowout as Steve Smith 
scored a season-high 28 points in At- 
lanta’s fourth straight victory. 

Dikembe Mutombo, Christian 
Laetmer and Ed Gray all added 15 
points as the Hawks improved their 
league-best record to 15-2. 

Rockets 112 , Numets ioi In Houston, 
the Rockets led by as many as 28 points 
before Denver began a run midway 
through the thud quarter, eventually clos- 
ing to 100-95 with less than five minutes 
to go cm a dunk by Johnny Newman. 

Maryland. Too far to go to see a great 
team, much less a team struggling to 
pull itself out of the doldrums. 

This remarkable edifice on F Street, 
with its restaurants and shops, could be 
a great symbol of cohesion. So they 
came Tuesday night — president, com- 
missioner, owner, fans — to celebraie a 
new building in a city of buildings. 

While the money people celebrated, 
tiie coach and players sweat just a little. 
Bemie Bickers taff was on the bench in 
1973 when the Bullets opened the Cap- 
ital Center. Five years later, Wash- 
ington won an NBA championship, 
with Wes Unseld at center, and Bick- 
erstaff an assistant to Dick Motto. 

“How many times can you °o into 
an arena, open a new arena, close it, 
and then open a new arena,” said 
BickerstafF, now head coach. "Now. 
because times have changed with me- 
dia and all this kind of intensity, it's 
much larger. I've got all kinds of 
butterflies right now. But it’s because 
of the media and the hype." 

The Rockets responded with a 10- L 
run to pull away, keyed by Matt Bul- 
lard’s 3-pointer with 2:30 to go. 

Magic 89, Trail Blazon 88 Penny 
Hardaway scored 29 points, and Or- 
lando won in Portland despite Mowing a 
10-point lead late in the fourth quarter. 

Rony Seikaly added 14 points and 1 1 
rebounds, and Charles Outlaw had 1 1 
points and a key steal of an inbounds 
pass with two seconds left. 

Suns 90, Bucks as In Milwaukee, 
Phoenix forward George McCloud 
scored a season-high 16 points in his first 
start of tiie season, including a 3-pointer 
to tie the game at 86-86 with 57 seconds 

left Rex 

lex Chapui 
to give the 

man then made two free 

shots to give the Suns the victory. 

Homsts 95, Kings 78 In Sacramento, 
Glen Rice scored 14 of his 30 points in 
the third quarter and Charlotte had a 
franchise-record 41 assists. 

NHL Plans 
Format for 
Next Season 


PALM BEACH, Florida — The 
Toronto Maple Leafs will return to tiie 
NHL’s Eastern Conference and play 
more games against their traditional and 
geographic rivals under an NHL re- 

The National Hockey League Board 
of Governors on Tuesday approved a 
plan for the 1998-99 season to expand 
the league into six divisions. 

The Maple Leafs have been in the 
Western Conference since the 1981-82 
season. They will move to tiie Eastern 
Conference's Northeast Division, join- 
ing the Montreal Canadians, Boston 
Bruins, Buffalo Sabres and Ottawa Sen- 

The Leafs, Canadiens and Bruins are 
three of the NHL’s six original teams. 
The others are the New York Rangers, 
Chicago Blackhawks and Detroit Red 

With the realignment, both confer- 
ences will have three divisions instead 
of the current two-division format. The 
Atlantic, Northeast and Southeast di- 
visions will make up the Eastern Con- 
ference, while the Western Conference 
will have the Central, Northwest and 
Pacific divisions. 

Under the new structure, the Colum- 
bus Blue Jackets will join the Central 
Division upon entering the league in 
2000-2001. The expansion Nashville 
Predators had already been placed in die 
Central next year with Detroit, Chicago 
and the St. Louis Blues. 

Avalanche Jinx 
Plagues Oilers 

The Associated Press 

Peter Forsberg scored two goals as 
the Colorado Avalanche stretched its 
regular-season unbeaten streak against 
the Edmonton Oilers to 11 games. 

“Even when we have a really good 
effort, we get the short end of the stick,” 
said Doug Weight, the Oilers’ center, 

NHL Roundup 

after the Avalanche won, 4-2, on Tues- 
day night. "They pull it out in the end. 
It’s disappointing.” 

Forsberg extended his point streak to 
seven games in a penalty-filled contest 
in Denver. He broke a 2-2 tie with a shot . 
from tiie top of the right circle with 4: 19 
left in the third period. Claude Lemieux 
added an insurance goal with 1:46 re- 

Senators 4, Islanders 2 Ottawa held 

the Islanders to 1 6 shots in a victory that 
extended the Senators’ unbeaten streak 
againsr New York to seven games. 

Capitals 3, Rangers 2 At Madison 
Square Garden in New York, Joe Juneau 
scored the game-winner for Washington 
with 1:15 left in overtime. 

Blues 3, Devil* i Craig Conroy set up 
all of 5 l Louis's goals as the Blues 
snapped a season-high five-game win- 
less streak with a victory in New Jersey. 

Leafs 3, Mighty Ducks 3 In Toronto, 
Ruslan Salei’s goal with 4:06 remai ning 
gave Anaheim a tie with the Maple 
Leafs, who blew a two-goal lead for the 
second time in three games. 

PACE 22 



Scouting for Yule Help 

Going Homes American Filmmaker in Vietnam 

the first time that any- 
one can remember, there's a 
shortage of temporary help to 
work daring the holiday sea- 
son. The stores are so des- 
perate that they are sending 
oat scouts to 
recruit sales- 

Peter Loge, 
the senior head- 
hunter for 
Macy’s, heard 
about a 17- 
year-old pros- 
pect in Cul-‘ 
peper, Virginia. 

His name was Jason Marks, 
and he was wavering between 
the toiletries counter at 
Macy’s and the snow shovel 
section at Wal-Mart 

When Loge arrived at the 
Marks home, father, mother 
and Jason were sitting in the 
living room. 

Loge said, “You’ll all love 
Macy’s. Jason won’t even 
have to work in the stock 
room as a start. We’ll put him 
right on the floor in a won- 
derful environment” 

Mr. Marks said. “Can we 
talk about what the job 

“Twenty-five dollars an 

Mrs. Marks scoffed. 


“That’s chicken feed. Sears 
offered him $40 an hour and 
2,000 shares of stock options. 
Jason is a computer whiz, and 
he can write up a credit card 
purchase in two minutes flat 
Do you honestly think that 
we’d let him go for a measly 
$25 an hour?” 

By Craig R. Whitney 

New York Tima Service 

— Making the first American 

Jason said. “I even know 
how to process returns and 
ship packages for next-day 
delivery by UPS." 

“That’s why I’m here. Our 
scouting reports indicate that 
you can also handle cash trans- 
actions, but I don't think that I 
can go any higher than $55.” 

Mrs. Marks asked, “How 
about giving Jason a new 

Loge said, “If the Depon- 
ent Store Conference found 

meat Store Conference found 
out we had done that, we 
could forfeit all our sales be- 
fore Christmas.” 

Mrs. Marks wasn’t about to 
give up. “If you want our 
boy, give the family a trip to 

“Our hands are tied. We 
can’t do anything more than 
buy you a new house in Al- 

Jason said, “Kmart has 
offered me $60, and I don’t 
have to work on weekends.” 

jtl — Making the first American 
movie ever filmed entirely in Vi- 
etnam hasn't been a bed of lotus 
blossoms, say its producers and its 
young director, Tony Bui, 25. 

All of them hope Bui’s "Three 
Seasons" will create as much ex- 
ilement when it is released in te 
spring as “The Quiet American” 
did nearly 40 years ago. 

The Vietnamese- American au- 
reu. was 2 years old when his par- 
ents, with high-level connections to 
the defeated government of South 
Vietnam, fled with the family to the 
United States. He says he hated 
every minute of his first visit here 
five years ago. 

But his heart kept pulling him 
back to the city that used to be 
known as Saigon, and now he's 
here shooting his first full-length 
movie despite obstacles as dispar- 
ate as a typhoon, government cen- 
sors and the constant roar of the 
motorbikes that are taking over the 
city two decades after the Com- 
munists did. 

, : ’ V 

• •• ' •• '• ' v * 

-v V/ 

'Mt ■ jSSre r« 

The film's major supporters in- 
ude Harvey KeiteL who plays an 

Cezanne to Replace 
Delacroix on Bill 


PARIS — France an- 
nounced on Wednesday that 
Paul Cezanne would replace 
fellow painter Eugene Dela- 
croix on its 100-franc ($17) 
banknote, the country’s most 
popular. The banknote, to be 
issued starting Dec. 15, bears 
a portrait of the 19th-century 
Impressionist painter and a 
copy of his painting “The 
Card Players." 

Loge suggested, “Why not 
come over to the store and 
meet the other sales help? 
You'lL fall in love with them. 
Also, the customers are peo- 
ple who will help you get a 
job when you finish college. 
Jason, J’m not going to beg, 
but we need you if we’re go- 
ing to top our Christmas sales 
of last year." 

Mr. Marks said, "Jason’s 
the best sales prospect in the 
state. He should get at least as 
much as Michael Jordan who, 
as everyone knows, can't 
even gift wrap." 

elude Harvey Keitel, who plays an 
American veteran in search of the 
child, now a young woman, be 
fathered here. But dais is not an- 
other war movie about American 
hang-ups on Vietnam. 

“From my first visit here in 
1992, 1 knew that what I had to do 
was to tell the stories about this 
place that are the least told: the 
stories of the Vietnamese, from a 
Vietnamese point of view, and in 
Vietnamese,” Bui said after 
shooting a pedicab race scene in 
the hot sun just after the dry season 

“Three Seasons” aims to be a 
sentimental and sensitive explora- 
tion of the profound social ana cul- 
tural changes that have swept the 
country of his birth since the Com- 
munists reunified it by force in 

All the actors but Keitel are 
Vietnamese or Vietnamese-Am- 

ericans, and shooting is be- 
ing done with a Viet- 
namese company, state- 
owned Hang Fbim Giai 
Phong, or Liberation Film 
Studios. And government 
censors are keeping a 
watchful eye on both script 
and shooting. 

“It’s a film with only one 
known star, but I hope 
people in France, Germany 
or Idaho will all recognize 
the struggles, the hopes and 
the dreams of the people in 
this poor Third World coun- 
try as very similar to their 
own," said Bui, who grew 
up in Sunnyvale and San 
Jose in California and stud- 
ied filmmaking at Loyola 
Mazymount University in 
Los Angeles, graduating in 
1995. • 

The producers are only 
34: Jason Kliot, a New 
Yorker who graduated from 

the Dalton School and Am- > # 

herst College, and Joana Vi- Tony Bui directing his film “Three Seasons” in Ho Chi Minh City, 
cente, his wife and partner 

in Open City F ilms Inc. of New despite its capitalistic economic outdoor locations, near a bridge 
York City, they all came here to policy. over the Saigon River, 

start making the film in September Keitel, who speaks in English, The street urchin in the story was 

and expect to finish it at the end of completed a week of shooting here plncked from the ranks of the real 
December for only $1.5 million , a in mid-November. '“dust of life” orphans who still 

10th of what they estimate it would The three seasons of the title are swirl around the knees of foreign 



10th of what they estimate it would 

cost to do the shooting in the United the interwoven stories of a pedicab 
States. The film is scheduled for driver and a passenger he even- 

? ‘dust of life” orphans who still 
swirl around the knees of foreign 

a spontaneous, gesture after ', 
he finished shooting here, h^ 
made a $25,000 donation to- 
the Ho Chi.Mmh City Child 
Welfare Foundation. 

The Americans say tiug;- 
the two e ver-pre sent Viet- ' 
namese government censors 
^ on the set, who are both with 
a mysterious sate organiza- 
tion known tothc producers 
only os A-25, are often sus- 
picious about hidden deeper - 
meanings in die script * - 

. -Tha censors* whose ap* ' 
proval is required for the 
film to be shot here and win - 
be needed for its release in. 
Vietnam, are extraordinarily 
sensitive, the Americans 
say, to the way prostirutioif; 1 
supposedly a relic of Viet- - 
nam’s decadent past, is por- 

They also fretted about 
whether the ailing monk fo 
the story, who lives near a ‘ 
it Rim pagoda that rises out of the - 
center of a small pond 'and 
writes poetry, could some--- 
how be a sneaky allusion' to Pres-; 
ident Ho Chi Mi nh , who lived in a 
simil ar place in Hanoi until he died 
in 1969. 

But both director and producers ' 
take a philosophical view about * 

release by October Rims, which tually rescues from prostitution; 
introduced * ‘ Breaking the Waves ’ ’ Keitel and a street urchin he meets 

tourists and try to sell trinkets, official interference, which has sel- 
newspapers and cigarettes to eke dom been heavy-handed. . 

a . __ r m « . »*TL* T IaaIt a t nrn’ro in o 

introduced “Breaking the Waves” 
and “Secrets and Lies” in the 
United States and was acquired by 
Universal Studios last year. 

Bui. an athletic-looking young 

Keitel and a street urchin he meets 
before be finally finds his daughter, 
and an elderly Vietnamese house- 
keeper who loses her job in the city 
and goes to the countryside to help 

out a living. The boy, who wears a 
Woody Woodpecker T-shirt, is 

called Woody in the script. 

Most of the pedicab drivers in 
the film are not actors but wiry men 

“The way I look at it, we’re in a 
Communist country and we have to 
obey the rules,” KUot said. “Some 
of the things we have to worry 
about in the United States are just 

Bui, an athletic-looking young and goes to the countryside to help who really do peddle cyclos, but as annoying: the constant legal cen- 
man with long black hair pulled a Buddhist monk who is Hyin g of notHai, the Vietnamese hero of the sons hip, for instance,” he added, 
. .- - » ’ ■ — film. He is played by Don Duong, — i-£*:~. *.«. a- 

back in a ponytail, chuckled at the 
idea of a major studio backing a 
micro-budget film that will be re- 
leased in the United States with 
subtitles, but insisted that the Vi- 


The senpt, written by Bui and his an actor with a deep, resonant voice 
brother, Timothy Linh Bui, is both who is well known in Vietnam and 

sweetly Vietnamese and a] 
ingly American. “Tony be 

etnamese sound track was pan of very strongly in people helping 

e point of view he wanted- each other in aimcuit si 

So is this city, a place where Kliot, the producer, said. 

each other in difficult situations," 

an interpreter on lo- copyright problems,” Kliot said, 
og said, "I love this *‘We can’t put him in a Super- 

giant high-rise hotels, residences 
for rich expatriates and retail shops 
with expensive Western goods rise 
starkly out of seething slums, in a 
country still run by Communists 

The crew of 25 Ameri cans and 
60 Vietnamese got plenty of prac- 
tice doing that as soon as shooting 
began, when Typhoon Linda made 

is Bui’s uncle. 

Through an interpreter on lo- 
cation, Duong said, "1 love this 
film because it talks about hard- 
working people who are straggling 
to make a better life for themselves, 
and I'm happy to be playing in 

sons hip, for instance,” he added, 
explaining that the script originally 
called the street boy Mickey 

“We can’t use that because of 

man cape in one scene because 
Warner Brothers owns the Super- 
man rights and said no. Woody 

Woodpecker is Universal, so that’s 
OJC. But Tony has to alter his 

regan, when Typ 
k mucky mess of < 

Most of Keitel's scenes are in the vision slightly because of legal 

one of one of their rainy season with die urchin, and in constraints.” 



The Collector and the Killer: John Wilkes Booth’s Papers 

A BRITISH parliamentary 
committee on Wednes- 

By William Booth 

Washington Post Service 

B EVERLY HILLS, California 
— The collector resides in a 

JD — The collector resides in a 
hillside mansion of dynastic 
wealth, so tastefully fortified and 

perfumed with roses, so big and 
bright, that it takes a moment to 

bright, that it takes a moment to 
remember that one’s business here 
is a dark obsession. But it is a 

golden morning, and the security 
force is pleasant about buzzing the 

/ /• It / 

force is pleasant about buzzing the . 
guest through, the electronic gale, to . 

meet the collector who has amassed 
the world's most extensive collec- 
tion of artifacts belonging to the 4 -’ * 
man who shot President Lincoln in 
the back of the head. . 

She is Louise Taper, and her col- I L 
lection forms the core of a new F* 
book, titled “Right cm- Wrong, God i jgfc 
Judge Me: The Writings of John 
Wilkes Booth.” which was edited 
by Taper and John RhodehameL a ■4/- ' , ‘ 

scholar and curator at the Hunt- 
ington Library. The book includes 
all the known writings of Booth, 70 
documents, of which half have nev- 
er been published before. Among 
them: a speech written but probably 
never delivered by Booth, outlining Louise Tap 
his love of the South and his white 
supremacist beliefs; as well as recently uncovered 
love letters the actor penned, at the peak of his fame, 
to a young woman in Boston, hidden by her after the 
assassination, then kept by her heirs until they sold 
them to Taper. 

Through scholarship and the documents, the 
book attempts to show that Booth, the first Amer- 
ican presidential assassin (and, incidentally, no 
relation to this reporter), was not an isolated mad- 
man who killed m a deranged fever but a more 
complex and therefore disturbing character who 

mums mm 


Jonathan Almm/Tb* Wohnq'taxo KmI 

Louise Taper with a bust of Lincoln and a wanted poster for Booth. 

operated with calculation and political intent. 
Taper did not intend to be the collector who 

taper did not intend to be the collector who 
gathered together the strands of Booth’s short life. 
The trajectory of her obsession with Civil War 
objects started not with the last bloody act of 
America’s most bloody war, but innocently, with 
the gushy biographical novel “Love Is Eternal,” 
by Irving Stone, about Lincoln and Mary Tockl. 

Taper wanted to hold in her hands something 
from that era and those people. And so, more than 
two decades ago, she bought her first piece of 

Lincolniana, a little scrap of paper addressed to the 
attorney general and signed by the pres ident 

In the years since, her home has become a 
Lincoln museum. She and her husband, Barry 
Taper, the scion of a Los Angeles real estate and 
banking fortune, now own one of the largest private 
collections of Lincoln artifacts. 

She possesses the gloves, handkerchief and shirt 
stud that Lincoln wore to Ford’s Theatre oa the 
evening of his assassination. And most haunting of 
all. Taper acquired a cutting from Lincoln’s black 
coat, worn on the night of April 14, 1865. “You 
can see, there,” Taper points, "just the faintest 
blush of red.” 

She says: *T didn’t want to get into the as- 
sassination.” But history drew her forward. The 
effects of John Wilkes Booth, where are they kept? 

”1 don’t keep him here,” Taper says, sitting in 
the library and pouring coffee. ‘*1 keep him down- 

crazed, drunken, two-bit bam actor 
® i «l||i — or alternatively, that Booth was 
>'l|t llilpife not even a man at all but a demon. 
“8$ M ill; “John Wilkes Booth committed 
. §! .Ipflfl a monstrous act,” Taper says, “but 
-In he was no monster.” 

- He was the son of the “mad 

1 — ? illal tragedian” Junius Bratus Booth, 
/ i MM- who immigrated from England to 
I i JjpS| the United States, and toured the 
f j Jfjjlgg country’s theaters as the foremost 
MI S tragic actor in the years before die 
M‘ : JBli War. The elder Booth, who 
i iK|p was brilliant but also alcoholic and 
i f||| mentally unhinged, produced three 

JaHjOl sons who also became actors. The 
most accomplished was Edwin 
p Booth, whose 100-night run of 

“Hamlet” in New York City in 
1864 was famous. 

His little brother John Wilkes 
was himself one of die most suc- 
cessful stars of his time, hailed for 
his athletic performances of 
Shakespeare, particularly his work 
^ ! r 38 Richard ID and, eerily, Brutus in 
“Julius Caesar” — the noble tyrant 
slayer. His sword fighting brought 
packed houses, in thousand-seat 
theaters around the nation, to their 
nmxVuu.gtaiHMi feet The critics called him a genius, 
Booth. and “the most handsome man in 
America.” His one physical flaw, 
one critic noted, was his height Booth was short 
“The women would line die stage door for a 
glimpse of him,” Taper says. Searching for a 
contemporary comparison, she offers, with apo- 
logies, f ‘It was as if Brad Pitt shot Bill Clinton.” 

Documents relating to the matinee idol's life are 
extremely rare. In the hours and days after the 
Lincoln assassination, anyone with a connection to 
the actor was pursued by authorities, and bis letters 

committee on Wednes- 
day accused the officials of 
the Royal Opera House of 
mismanagement and sugges- 
ted that the government 
should take over and appoints 
“philistine” with financial 
skills to replace them. The 
House of Commons Culture, 
Media and Sport Committee 
accused the board of “dis- 
astrous raisjudgments” in 
foiling to find an alternative 
venae for the opera and ballet 
during the two years while the 
Co vent Garden theater is re- 
vamped. Some of die harshest 
criticism fell on Mary Allen, 
die Arts Council’s former sec- 
retary general who was ap- 
pointed chief executive of the 


Stmauha PnnWAgrncr Irancr-! 

S >era house last May without Gillian Wearing, the winner of the Turner Prize. 

e post befog publicly ad- 
vertised. Chris Smith, the secretary of state has resigned after a lengthy, bitter disf 
for culture, has already launched an inquiry with Seiji Ozawa, die conductor of the E 
into the future of the Covent Garden building, ton Symphony Orchestra, which runs 
headed by Sir Richard Eyre, former director summer training institute for -musician! 
of the National Theatre. Lenox, Massachusetts. Fleisher’s move 

A judge in Cape Town on Wednesday grant- 
ed Earl Spencer a divorce from his wife, 
Victoria, after an eight-year marriage. She will 
receive a lump-sum settlement of £1 .8 million 
($3 million), according to court documeuxs, as 
well as her house in Cape Town. Lord Spencer 

has resigned after a lengthy, bitter dispute 
with Seiji Ozawa, die conductor of the Bos- 
ton Symphony Orchestra, which runs die 
summer training institute for -musicians in 
Lenox, Massachusetts. 'Fleisher’s move fol- 
lows that of the pianist Gilbert Kalish, who 
served on the faculty for nearly 28 years, 12 of 
them as faculty chairman. Kalish resigned his- 
post on Oct. 29. Three other long-serving 
faculty members have also resigned. The cen- 
ter has been in turmoil since early 1 996, when 
Ozawa abruptly dismissed its longtime ad- 
ministrator, Richard Ortner. 

sale price of (he house and £250,000, in the 
event that she sold the property. 

Whitney Houston’s last-minute illness that 

went up in frightened flames. Edwin Booth was 
almost lynched by a mob. The entire cast of “Our 

In their book, Rhodehamel and Taper confront 
the popular myth thar Booth can be dismissed as a 

almost lynched by a mob. The entire cast of “Our 
American Cousin,” performed the night of Lin- 
coln’s fatal shooting, was detained. And so, nat- 
urally, evidence was destroyed by those who were 
associated with the assassin. 

Taper came to the game of collecting with the 
right ingredients: her second husband’s wealth ami 
her highly acquisitive nature. But the Booth material 
is dark and unsettling, and morbidly riveting. 

“In the North, I’m the Lincoln lady,” Taper 
says of hear collections. “But in the South, I’m the 
Booth lady.” 

Britain's most controversial art prize has 
gone to a woman video artist whose works 
include a 60-minute film of police officers 
posing in silence for a group photo. GOtian 
Wearing won the £20,000 ($33,500) Turner 
Prize for videos that the judges praised for their 
“complexity beneath an apparently simple 
surface.” The prize has been mocked as a 
pretentious publicity stunt by art critics, and in 
1995. media interest reached a peak when 
Damien Hirst, won the a ward for his carcasses 
of a cow and calf floating in formaldehyde. 

Sports Festival, sponsored by the Unification 
Church, will cost her $i million, the amount 
she was to receive for 45 minutes of song. 

Leon Fleisher, the pianist, conductor and 
teacher who has served as artistic director of 
the Tanglewood Music Center since 1984, 

^ T hirty years after performing the world's 1 
first heart transplant, the pioneering surgeon 
Christiaan Barnard says he never expected 
to be famous. Since Barnard performed the 
operation on Dec. 3', 1967, he has been the! 
recipient of awards from around the world- 
and able to hobnob with celebrities. A trans- 
plant museum opened Wednesday at the 
Groote Schtrnr Hospital in Cape Town, where 
Barnard put the heart of a road, accident victirn 
into the chest of 55-year-old Louis' 
Washkansky, who lived for IS days before 
his body rejected the heart. 

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